Technical analysis on EU,GU and major pairs

[johny5]

EUR/USD Intraday Technical analysis 2012-02-21

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.3290 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

Technical indicators provides sellers signals and approaching to the overbuy zone supporting the assumptions of a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3290 with a 1st objective of 1.3350, then 1.3380. A break in 1.3270 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2012-02-22

The spot rate is currently testing the intermediate support of its medium term bearish channel in 1.5760 suggesting a rebound. However a break of these levels would entail a decline to the lower limit of this one to 1.6530.

Technical indicators do not provide clears signals but until that the support is not broken the assumption of a rebound is most likely. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5760 with a 1st objective of 1.5820, then 1.5850. A break in 1.5740 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2012-02-22

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.3290 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

Technical indicators do not provide clears signals but until that the resistance is not broken the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3290 with a 1st objective of 1.3350, then 1.3380. A break in 1.3270 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2012-02-23

The spot rate is currently testing the lower limit of its medium term bearish channel in 1.5600 suggesting a rebound. However a break of these levels would free a large potential and entail a bearish channel more violent.

Technical indicators provide buyers signals supporting the assumption of a rebound in the short term. Bollinger bands are much discarded to a result of the strong decline of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5600 with a 1st objective of 1.5650, then 1.5680. A break in 1.5580 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2012-02-23

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.3280 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

Technical indicators provides buyers signals but approaching to the overbuy zone supporting the assumptions of a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3280 with a 1st objective of 1.3350, then 1.3380. A break in 1.3260 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2012-02-24

The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 1.5760 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.5860.

Technical indicators give sellers signals suggesting a decline in the short term. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5760 with a 1st objective of 1.5820, then 1.5860. A break in 1.5740 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2012-02-24

The spot rate is currently testing the upper limit of its medium term bullish channel in 1.3390 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend more violent.

Technical indicators provide sellers signals and evolve in overbuy zone suggesting a decline. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3390 with a 1st objective of 1.3450, then 1.3480. A break in 1.3370 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical Analysis 2012-02-27

The spot rate is moving in a medium-term trading range approaching its upper limit in the point 1.5930, indicating a possible decline. However, the breakdown of these levels will reveal a large potential that will initiate the bullish trend.

Technical indicators provide signals for SELL-deals, confirming the assumption of a decline that is expected to take place soon. For the last days Bollinger bands have tightened significantly showing a decline in volatility and the beginning of a violent movement.

Proceeding from the previous events, the market indicates a bullish opportunity as soon as the spot rate will has broken its resistance in the point 1.5930 with a 1st objective seen at 1.5990 and at 1.6030 levels. If the level 1.5910 is passed through, the scenario will be reversed.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical Analysis 2012-02-27

The spot rate is currently testing the upper limit of its medium term bearish channel at 1.3490 and seems to initiate a decline. However a break of these levels will free up significant potential and initiate a bullish trend.

Technical indicators provide sell-signals and are approaching the overbuy zone supporting the assumption of a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events, the market will indicate a bullish opportunity as soon as the spot rate has broken its resistance at 1.3490 with the 1st objective of 1.3550, then 1.3580. A break through 1.3470 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Wave Analysis for February 28, 2012

After the yesterdays repulse from the level of the figure 59 that took place during the Pacific session, the GBP/USD pair had lost over 100 pips by the end of the day. The inner wave structure of the ascending part of the trend that was formed on Friday does not seem to be very convincing. This enables the Pound to resume the growth to the targets located near the point 1.5930. At the same time, as it has been mentioned before, the 2nd wave (or the wave B) is likely to transform in more complicated corrective structure which, in turn, is expected to acquire the properties of diagonal triangle.

Targets for the variant with the wave 2 or B (in case it is complicated):
1.5662 38.2% according to Fibonacci
1.5581 50.0% according to Fibonacci

Targets for the variant with the wave 3 or C:
1.5933 261.8% according to Fibonacci

General conclusions and trading recommendations:
The formation of the ascending part of the trend within the wave 3 (or wave C) with targets seen at the 1.5933 (equal to 261.8% of Fibonacci) is very likely to resume. The continuous correction is considered as negative factor for the uprising part of the trend. Though it is possible that the ascending part of the trend will turn downwards, the Fridays movement stimulated the formation of the uprising part of the trend. The renewal of the high of the wave 1 (or wave A) will be confirmed by the formation of the wave 3 (or wave C) indicating the further growth of the pair.

Performed by Alexander Dneprovskiy, Analytical expert