Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD candlestick analysis for May 27, 2011

The GBP/USD currency pair is bouncing off the Fibonacci correction level 50.0 and has closely approached the resistance level 1.6430. If it is broken, short positions should be closed.
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 27, 2011

Yesterdays multidirectional trading did not allow the EUR/USD to develop the upside movement within the estimated c wave, in the B. At the same time we might suppose that the price is forming a quite complicated inner wave structure of this correction c wave, in the B. If so, as we mentioned before, the upside movement might develop in the direction of the levels between 43 and 44 figures.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-05-30

The spot rate approaches the intermediate resistance of its medium-term bullish channel to 1.6580 suggesting a decline. However a break of these levels would reach the upper limit of this one to 1.6840.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6580 with a 1st objective of 1.6720, then 1.6740. A break in 1.6550 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD wave analysis for May 30, 2011

The EUR/USD currency pair continued to move upside, forming a quite complex wave situation of the whole upside movement developing since May 23. At the same time, given the correction scenario, such growth of the price can be considered as a forming structure of the c wave, in the B. If so, the targets for this c wave, in the B, may be located near the 1.4450 level.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD wave analysis for May 31, 2011

Trading in the range yesterday did not allow the EUR/USD currency pair to choose further direction. Nevertheless, the narrow price range allowed the pair to form the wave structure that now looks like a part of the future 4th wave in the c, in the estimated B. If so, after the activity on the markets resumes and the decline within the 4th wave ends, the euro might continue advancing in the direction of the targets located above the 44 figure level.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD Around The Down Trend Line. May 31, 2011

The United Kingdom pound United States dollar pair is showing signs of a change in trend, a daily close bellow of the downtrend line, will be a clear signal to sell short even the nearest support level at 1.6250. It is important to point out that the pair could return to its previous low point. If it fails to break through the 1.6205 weekly support level. Such a drop will create an additional opportunity to pick up the pair at a low and attractive buy price.

Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-06-01

The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 1.6480 suggesting a decline. However a break of these levels would reach the upper limit of this one to 1.6550.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6480 with a 1st objective of 1.6550, then 1.6580. A break in 1.6460 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD wave analysis for June 1, 2011

Yesterdays growth of the EUR/USD to the targets located above the 44 figure level might indicate the end of forming of the upside trend section initiated May 23. At the same time we cannot eliminate the possibility that the price will form even more complicates inner wave structure of the 5th wave in the c, in the estimated B. In the meantime, we should note the fact that if the euro cannot develop the upside movement, the euro will be able to decline to 1.4000.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis

The spot rate is currently testing the lower limit of its medium-term bullish channel at 1.4320 suggesting a rebound. However a break of these levels would free a large downside potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.4320 with a 1st objective of 1.4420, then 1.4450. A break in 1.4290 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis

The spot rate is currently testing the intermediate support of its medium-term bullish channel at 1.6310 and seems to start a rebound. However a break of these levels would entail a return to the lower limit of this one to 1.6090.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6310 with a 1st objective of 1.6420, then 1.6450. A break in 1.6280 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert