Technical analysis on EU,GU and major pairs

[johny5]

GBPUSD wave analysis for November 14, 2011

Wave pattern analysis:
Stable growth of GBPUSD price during the Friday trading session allows regarding the Thursday low as c wave, part of the correction structure, finish. The wave formed on October 31. This is the 4th wave of the upside trend developing since October 6. If this is the case, then the newly appeared upward zone may well be the beginning of the 1st wave in the future 5th one. The first possible target for the 5th wave is near the 62nd figure.
General conclusions and trading recommendations:
The price failed to reach 1.5866 level, having tested it twice. The growth of quotes registered on Friday points at possibility that a new upside movement has started within the framework of the 5th wave of the long-term upward trend. A-b-c waves are over with a high probability and the current movement is the 1st wave if the 5th one. The target of this wave is 1.6184 level which corresponds to Fibonacci percentage 216.8%. Thus, at the moment it is recommended to open positions to buy. MACD confirms the upside movement as well. It shows divergence which is being worked off most likely. Another optimistic fact is that the price is still within the upwards band and it could not leave it even being within the boundaries of the 4th correction wave.


Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-11-14

The spot rate is currently testing the intermediate resistance of its medium-term bearish channel in 1.3820 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.4070.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3820 with a 1st objective of 1.3890, then 1.3920. A break in 1.3800 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-11-15

The spot rate is currently testing the intermediate support of its medium-term bearish channel in 1.3580 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.3450.

According to previous events, the market indicates a bullish opportunity on the levels of 1.3580 with a 1st objective of 1.3660, then 1.3690. A break in 1.3560 would invalidate this scenario.


Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-11-15

The spot rate approaches to the lower limit of its medium-term bearish channel in 1.5860 suggesting a rebound. However a break of these levels would release significant potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5860 with a 1st objective of 1.5940, then 1.5960. A break in 1.5840 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-11-16

The spot rate approaches to the lower limit of its medium-term bearish channel in 1.3420 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 1.3420 with a 1st objective of 1.3500, then 1.3530. A break in 1.3400 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-11-16

The spot rate broke the lower limit of its medium term bearish channel in 1.5860 resulting in an acceleration. A pull back on these levels is expected before a resumption of bearish.

According to previous events, the market indicates a bearish opportunity on the levels of 1.5860 with a 1st objective of 1.5760, then 1.5740. A break in 1.5890 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-11-17

The spot rate is currently testing the intermediate resistance of its medium-term bearish channel in 1.3550 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.3760.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3550 with a 1st objective of 1.3610, then 1.3640. A break in 1.3530 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-11-17

The spot rate approaches to the upper limit of its medium-term bearish channel in 1.5750 suggesting a decline. 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 1.5750 with a 1st objective of 1.5820, then 1.5850. A break in 1.5730 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-11-18

The spot rate is currently testing the intermediate resistance of its medium-term bearish channel in 1.3530 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.3740.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3530 with a 1st objective of 1.3590, then 1.3620. A break in 1.3510 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-11-18

The spot rate approaches to the upper limit of its medium-term bearish channel in 1.5790 suggesting a decline. 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 1.5790 with a 1st objective of 1.5860, then 1.5890. A break in 1.5770 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert