Technical analysis on EU,GU and major pairs

[johny5]

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

The EUR/USD currency pair is still trading down.
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 wave analysis (week review) 2011-08-08

After testing the 1.6470 level in the beginning of the week the GBP/USD pair was trading in the rang 1.6215 1.6435. At the same time the complex inner wave structure formed during last week is gaining characteristics of a horizontal triangle composing the estimated continuous 3rd wave (or c). If so, after this horizontal correction ends the pound might resume growth to the first target level near 1.6640.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD candlestick analysis (long-term view) 2011-08-09

The EUR/USD currency pair is still trading down this week.
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 2011-08-09

The spot rate is currently testing the intermediate support of its medium term bearish channel in 1.6330 and seems to start a rebound. However a break of these levels would entail a return to the lower limit of the channel to 1.6210.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6330 with a 1st objective of 1.6430, then 1.6450. A break in 1.6300 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-08-10

The spot rate approaches the intermediate resistance of its medium term bearish channel in 1.4400 suggesting a decline. However a break of these levels would allow it to reach the upper limit of the channel to 1.4480.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4400 with a 1st objective of 1.4480, then 1.4520. A break in 1.4380 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

The GBP/USD technical analysis and trading recommendations for August 10, 2011

Overview:
The pound is continuing sideways movement, the price has been located between 1.6470 and 1.6260 for a long time, now the Ichimoku might form false signals. The Tenkan-sen and the Kijun-sen are now forming a buy signal, but as it was already mentioned, false signals are likely to be formed as the Ichimoku is a trend indicator. Therefore it is recommended to stay outside the market until the trend movement starts. The Chinkou Span is above the price graph, which indicates bullish sentiment of market participants. The Bollinger Bands show sideways movement, the lines are not diverging and directed sideways. The MACD is descending, which demonstrates current downside movement withing the sideways price channel.
Trading recommendations:
Currently it is recommended to stay off the market until the trend movement starts. The beginning of trend movement will be shown by the Bollinger Bands that will start to diverge.

Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

Technical analysis and trading recommendations for EUR/USD for August 11, 2011

Forex market analysis for August 11 shows that at the moment downtrend still remains and there are frequent rollbacks and corrections. The downtrend is moving to side movement. It is not recommended to trade this pair now. The buy signal is confirmed and weak, since the Chinkou Span fixated over the price graph and the price is below the Ichimoku cloud. At the moment the first target is 1.4660 the second support level. Upside movement remains while the price is below the Kijun-sen (1.4240), if the price fixates below this line it is recommended to cut long positions. The Chinkou Span is above the price graph, which confirms the current buy signal and indicates bullish sentiment. The Bollinger bands show side movement, which prevents us from bullish trading. Yet due to high volatility and frequent corrections trading is not recommended in general.


Trading recommendations:
Currently it is recommended to wait until the market stabilizes. Trading is dangerous now as losses are rather likely to occur.
In addition to technical image, one should take into account the fundamental data and the time of their release.

Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-08-11

The spot rate is currently testing the lower limit of its medium term bearish channel in 1.6105 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 1.6105 with a 1st objective of 1.6190, then 1.6230. A break in 1.6090 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Bullish Outlook, August 12, 2011 (Daily Strategy)

The evaluation of fundamental analysis is finally argues that the euro-dollar pair should be supported in long-term upward direction as the euro is the natural currency "by default" when investor confidence betray the dollar.

The technical picture of the pair reflects opportunities for advancement to the 1.4700 resistance level. The first price target for the short term can be found at around 1.4360. However, only if the pair breaks the downtrend line that acts as resistance in the 1.4380, we will get technical confirmation for the continuation of the movement upwards and towards the medium term price target at around 1.4680 or 1,4700 dollars to the euro.



Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-08-12

The spot rate approaches the upper limit of its medium term bearish channel in 1.6250 suggesting a decline. However a break of these levels would 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 1.6250 with a 1st objective of 1.6360, then 1.6380. A break in 1.6220 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert