Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD Intraday Technical Analysis 2012-03-21

The price is now testing the upper limit of its medium term bearish channel at 1.5910 and seems to initiate a decline. Though puncturing through these levels will free up significant potential and start a bullish trend.

Technical indicators provide sell-signals and are getting closer to the overbuy zone supporting the assumptions of a decline. Bollinger bands are much discarded as a result of a strong increase during these days. Stabilization is expected in the short term.

According to previous events, the market will indicate a bullish opportunity as soon as the spot rate has broken its resistance at 1.5910 with the 1st objective of 1.5970, then 1.5990. A break through 1.5890 will change the plan.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Negotiation in Range - March 21, 2012

The EUR/USD pair retreated to 1.3284 around the second weekly resistance, reached in early European session, after the approval of an aid package amounting to EUR 130 bln by the Congress of Greece.
As for the technical levels, we note that the euro has corrected to 61.8% Fibonacci retracement of the maximum at 1.3486 - 1.3002 so we can re-sell the weekly R_2 with one target in the pivot point to 1.3120, and if there is a continuous downward sequence, we can buy at the minimum of 1.3120 with a target at 61.8% Fibonacci.
It is most likely that the euro will be within the range of 1.3290 - 1.3120.
The range indicator and MACD are positioned in the neutral zone and are slightly positive.

Performed by Gerardo Porras, Analytical expert

 

[johny5]

GBP/USD Intraday Technical Analysis 2012-03-22

The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.5810 suggesting a rebound. However, a break of these levels will entail a decline to the lower limit of this one - to 1.5510.
Technical indicators provide sell-signals supporting the assumptions of a rebound. Bollinger bands are much discarded as a result of the strong increase of these days. Stabilization is expected in the short term.
According to previous events, the market will give a bearish opportunity as soon as the spot rate has broken through its support at 1.5810 with the 1st target at 1.5750, then at 1.5730. A break through 1.5830 will change this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical Analysis 2012-03-22

The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.3150 suggesting a rebound. However, a break of these levels will entail a decline to the lower limit of this one to 1.2940.
Technical indicators provide sell-signals but are approaching the oversell zone supporting the assumptions of a rebound. 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 bearish opportunity as soon as the spot rate has broken its support at 1.3150 with the 1st objective of 1.3090, then 1.3070. A break through 1.3170 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical Analysis 2012-03-23

The spot rate is currently testing the intermediate resistance of its medium term bullish channel in 1.3280 indicating a possible decline. However, a breakdown of these levels will enable the reaching of the upper limit of its channel in the point 1.3350.

Technical indicators provide signals for BUY-deals but approaching to the overbuy zone confirms the prospect decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence 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 1.3280 with 1st objectives seen at the 1.3330 and 1.3350 levels. If the level 1.3260 is broken, the prospect scenario will be invalidated.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

The spot rate is presently testing the upper limit of its medium term bearish channel in 1.5890 and is likely to initiate a decline. However, a breakdown of these levels will reveal significant potential starting a bullish trend.

Technical indicators provide signals for Buy-deals but approaching to the overbuy zone confirms the assumptions of a decline. Bollinger bands are much discarded due to the strong increase that took place these days. The situation is likely to stabilize soon.

According to the previous situation, the market indicates a bullish opportunity as soon as the spot rate will has broken its resistance in 1.5890 with 1.5950 and 1.5970 seen as first objectives. A breakdown of the 1.5870 level will reverse this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical Analysis 2012-03-26

At the moment the spot rate is testing the upper limit of its medium term bearish channel in the point 1.5890 and is expected to decline. However, a breakdown of these levels will reveal significant potential resulting in the beginning of a bullish trend.

Technical indicators do not provide clear signals but as long as the resistance is unbroken, the assumption of a decline is relevant. Bollinger bands have greatly tightened in recent days indicating a decline in volatility and the imminence of a violent movement.

Proceeding from the previous events, the market indicates a bullish mood as soon as the spot rate will has broken its resistance in 1.5890 with 1.5950 and 1.5970 seen as first objectives. If the 1.5870 levels is passed through, the prospect scenario will be reversed.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Wave Analysis for March 26, 2012

Wave marking analysis:
On Friday the EUR/USD pair has managed to continue the ascending movement that begun recently. In the course of the Asian session it reached the point 1.3290 having overcome the high of the 3rd wave of the whole uprising part of the trend. Therefore, we can assume that within this part the pair has formed the 5-wave structure which in turn is a part of more complicated correction. Proceeding from the size of this 5-wave structure the targets for its 5-wave structure are seen at the levels of 33 and 34 figures.
Targets for the variant with the wave 5 (supposed):
1.3293 161.8% according to Fibonacci
1.3334 200.0% according to Fibonacci

Targets for the variant with the beginning of the descending part of the trend:
1.3106 76.4% according to Fibonacci
1.3078 88.6% according to Fibonacci

General conclusion and trading recommendations:
Corrections of the wave marking indicate that the ascending part of the trend is being formed within the wave 5. Current upward movement has targets 1.3293 and 1.3334 corresponding to 161.8% and 200.0% of Fibonacci. If the current wave marking is true, that the impulse downside movement is likely to resume when the wave 5 is completed renewing the local minimum of the supposed wave 1 or A. Nevertheless, the marking remains quite controversial.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD Intraday Technical Analysis 2012-03-27

The spot rate has broken the intermediate resistance of its medium term bullish channel in 1.3340 resulting in acceleration. A pullback is expected to take place on these levels before the resumption of the bullish trend and reaching of the channel's upper limit.

Technical indicators provide signals for Sell-deals and approaching the overbuy zone supporting the assumptions of a decline. Bollinger bands have greatly tightened in recent days indicating a volatility decline and the imminence of a violent movement.

According to the previous events, the market indicates a bullish opportunity at level 1.3340 with 1.3400 and 1.3420 seen as first targets. A breakdown in 1.3320 will revesre this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical Analysis 2012-03-27

The spot rate is presently testing the upper limit of its medium term bullish channel in 1.6000 and is likely to initiate a decline. However, if these levels are passed through, the revealed potential will result in more violent movement of a bullish trend.

Technical indicators provides buyers signals and approaching 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 has broken its resistance in 1.6000 with 1st objectives 1.6060 and1.6080. In case the level 1.5980 is passed through, the proposed scenario will be invalidated.

Performed by Albert Fitoussi, Analytical expert