Technical analysis on EU,GU and major pairs

[johny5]

EUR/USD wave analysis for May 19, 2011

During yesterdays trading the EUR/USD could not define further direction. At the same time, the price is still within the wave structure that at the moment can be characterized as another series of abc correction waves. Thus, current situation allows both resumption of downside movement in the range of the future 5th wave in the estimated 3rd (or C), and possible development of a new uptrend section.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD Bullish Outlook May 19, 2011 (Daily Strategy)

The United Kingdom pound United States dollar pair is showing signs of a change in trend, a daily close above the first monthly resistance around 1.6205 will be a clear signal to buy long up to resistance levels of 1.6650 at least. We remind you that the long term fundamental price target for the pair is at around price levels of 1.7500 United States dollars to the United Kingdom pound.

Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-05-20

The spot rate is currently testing the upper limit of its medium-term bearish channel at 1.6240 suggesting a decline in the short term. However a break of these levels would free up significant potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6240 with a 1st objective of 1.6320, then 1.6340. A break in 1.6220 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Technical Support and Resistance Level For May 20, 2011

TODAY's TECHNICAL LEVELS :

Breakout BUY Level : 1.4394.
Strong Resistance : 1.4386.
Original Resistance : 1.4372.
Inner Sell Area : 1.4358.
Target Inner Area : 1.4324.
Inner Buy Area : 1.4290.
Original Support : 1.4276.
Strong Support : 1.4262.
Breakout SELL Level : 1.4253.
SHORT DESCRIPTION :

Today the EUR/USD is to find Support and Resistance between 1.4276 and 1.4372 and it has a strong Support at 1.4262 and a strong Resistance at 1.4386; if today the EUR/USD breaks out and closes below 1.4253, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4394, it will be the sign for LONG trading for today. Another option for the advanced trader can be trading between the Inner Buy Level at the 1.4290 for LONG trading and the Inner Sell Level at the 1.4358 for the SHORT trading, and all of them with the target at the 1.4324 level.

Performed by Arief Makmur, Analytical expert

 

[johny5]

The EUR/USD technical analysis and trading recommendations for May 24, 2011

The euro is still observing the sell signal without a target level, formed yesterday, the MACD is also demonstrating a slight correction. The formed sell signal is strong and confirmed, since the Chinkou Span fixated below the price graph and the price is below the Ichimoku cloud. Thus, at the moment the first target for the downside movement is 1.4021 the first support level. If this level is passed the second target will be the second support level at 1.3885. Downside movement remains while the price is below the Kijun-sen (1.4160), if the price fixates above this line it is recommended to cut short positions. The Chinkou Span is below the price graph, which confirms the current sell signal and indicates bearish sentiment. The Bollinger bands show downside movement, the lines are diverging and directed down. The MACD is ascending, thus indicating current correction movement, if it reverses down this will denote the end of the correction movement.

Trading recommendations:
Currently it is recommended to trade down with target at 1.4021 and further to 1.3885. Stop Loss should be placed above 1.4160 and stretched as the Kijun-sen declines. Short positions should only be opened after the MACD reverses down.

Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for May 24, 2011

The GBP/USD currency pair has successfully broken the support level at 1.6164, to decline further. Nevertheless, the viewpoint at the pair is still bearish.
Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 1.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6430 level as a break of this resistance will target the pair to 1.6517.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for May 25, 2011

The GBP/USD currency pair has rebounded off the Fibonacci correction level 50.0. Earlier the GBP/USD has successfully broken the support level at 1.6164. Nevertheless, the viewpoint at the pair is still bearish.
Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 1.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6430 level as a break of this resistance will target the pair to 1.6517.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD wave analysis for May 25, 2011

In general, as expected, the EUR/USD currency pair started to move upwards slowly after it failed to break the 40 figure level. At the same time, given the correction scenario of the wave situation after May 16, current growth of the euro price is limited by the c wave (in the B). If so, the indicated upside movement might develop in the direction of the 1.4200 level.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD wave analysis for May 26, 2011

The EUR/USD is still forming an upside correction. At the same time, the development of the estimated wave in the B is becoming quite complicated. In this relation and given the indicated inner wave dimension of this wave in the B we might assume that the targets for current growth of the euro might be located in a quite wide range between the levels of 43 and 44 figures.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for May 26, 2011

The GBP/USD currency pair has rebounded off the Fibonacci correction level 50.0. Earlier the GBP/USD has successfully broken the support level at 1.6164. Nevertheless, the viewpoint at the pair is still bearish.
Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 1.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6430 level as a break of this resistance will target the pair to 1.6517.

Performed by Vladimir Donin, Analytical expert