Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD Intraday Technical analysis 2011-08-01

The spot rates approaches the upper limit of its medium-term bullish channel in 1.6520 suggesting a decline. However a break of these levels would allow it to initiate a bullish trend more violent.

According to previous events, the market indicates a bearish opportunity on the levels of 1.6520 with a 1st objective of 1.6420, then 1.6400. A break in 1.6550 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD candlestick analysis (long-term view) 2011-08-01

Earlier in a weekly graph the EUR/USD formed Dark Cloud Cover candlestick combination indicating downside movement confirmed further.
This combination shows that the pair dropped sharply after an attempt to advance to the resistance level 1.4700, which means that the bears started to increase their influence.
Further decline is supported by the RSI indicator demonstrating a rollback from the overbought level 70.0.
Break of the support level 1.3969 will denote that this point of view is correct. In this case we should expect a decline to the support level 1.3427 where the Fibonacci correction level 50.0 is also located.
It is worth mentioning that stop loss should be placed slightly above the resistance level 1.4700 as its break will target the pair to 1.4900.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-08-02

The spot rate is currently testing the lower limit of its medium term bearish channel in 1.6250 suggesting a rebound. However a break of these levels would initiate a bearish trend more violent.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6250 with a 1st objective of 1.6350, then 1.6380. A break in 1.6220 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-08-02

The spot rate has bounced on the lower limit of its medium term bearish channel in 1.4190 and approach to the intermediate resistance of this one to 1.4320. A break of these levels would allow it to reach the upper limit of the channel to 1.4450.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 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 2011-08-03

The spot rate has bounced on the lower limit of its medium term bearish channel in 1.6220 and approach to the intermediate resistance of this one to 1.6320. A break of these levels would allow it to reach the upper limit of the channel to 1.6420.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6320 with a 1st objective of 1.6420, then 1.6450. A break in 1.6290 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-08-03

The spot rate has bounced on the lower limit of its medium term bearish channel in 1.4150 and approach to the intermediate resistance of this one to 1.4270. A break of these levels would allow it to reach the upper limit of the channel to 1.4420.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4270 with a 1st objective of 1.4370, then 1.4420. A break in 1.4240 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-08-04

The spot rate broke the intermediate resistance of its medium term bearish channel in 1.4260 suggesting a pull back. A resumption of bullish is expected in the short term.

According to previous events, the market indicates a bullish opportunity on the levels of 1.4260 with a 1st objective of 1.4360, then 1.4380. A break in 1.4230 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD wave analysis for August 4, 2011

Yesterdays resumed GBP/USD growth probably denotes that the inner wave structure of the 4th wave is completed. If so, current upside movement is developing within the 4th wave of the whole uptrend section initiated July 12. At the same time target levels for this 5th wave might be located in the range 1.6470-1.6560.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD candlestick analysis (long-term view)

Earlier in a weekly graph the EUR/USD formed Dark Cloud Cover candlestick combination indicating downside movement confirmed further.
This combination shows that the pair dropped sharply after an attempt to advance to the resistance level 1.4700, which means that the bears started to increase their influence.
Further decline is supported by the RSI indicator demonstrating a rollback from the overbought level 70.0.
Break of the support level 1.3969 will denote that this point of view is correct. In this case we should expect a decline to the support level 1.3427 where the Fibonacci correction level 50.0 is also located.
It is worth mentioning that stop loss should be placed slightly above the resistance level 1.4700 as its break will target the pair to 1.4900.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-08-05

The spot rate approaches the lower limit of its medium term bearish channel in 1.6210 suggesting a rebound. However a break of these levels would initiate a bearish trend more violent.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6210 with a 1st objective of 1.6310, then 1.6330. A break in 1.6180 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert