Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD Intraday Technical Analysis 2012-05-29

The spot rate is currently testing the upper limit of its medium term bearish channel at 1.5710 and seems to initiate a decline. However, a break through these levels will release good potential and initiate a violent bullish trend.

Technical indicators do not provide clear signals but until 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 will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.5710 with the 1st objective at 1.5770 and then at 1.5790. A break through 1.5690 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical Analysis 2012-05-30

The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.5600 and is likley to rebound. However, a break through these levels will reveal good potential enabling to reach its lower limit 1.5530.
Technical indicators provide buyers signals and as long as the support level is unbroken, the rebound is most likely to take place. Bollinger bands are much discarded resulting from the strong recent decline. The situation is expected to stabilize soon.

Considering previous events the market will provide a bullish opportunity at the level of 1.5600 with 1.5660 and 1.5680 seen as first targets. A breakdown of 1.5580 level will reverse this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical Analysis 2012-05-30

The spot rate is currently testing the lower limit of its medium term bearish channel at 1.2430 and is likley to rebound. However, a breakdown of these levels will release significant potential resulting in more violent bearish trend.

Technical indicators provide buyers signals and as the support remains unbroken, the assumption of a rebound is relevant. Bollinger bands are much discarded due to the strong decline that took place these days. The situation is expected to stabilize soon.

According to previous events the market will provide a bullish opportunity at the level of 1.2430 with the 1st objectives seen at 1.2490 and 1.2510 levels. In case the level 1.2410 is passed through, the proposed scenario will be altered.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Intraday Technical Analysis 2012-05-31

The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.2430 and is likely to initiate a decline. However, a breakdown of these levels will release significant potential enabling to reach its upper limit in 1.2550.

Technical indicators provide sellers signals confirming the assumption of a decline. Bollinger bands are much discarded due to the strong decline that took place these days. The situation is expected to stabilize soon.

According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.2430 with the 1st objectives seen at 1.2490 and 1.2510 levels. A breakdown of 1.2410 will cancel this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Is Time To Buy For May 31/2012

The British pound recovers from the fall that led to lows in January (1.5462). On Thursday durin the American session it was traded slightly higher. Noteworthy that the volume of retail trade in the United Kingdom grows, sales amounted to 21% versus 6% in the previous month which increases the possibility of recovery of the British currency.


On the daily chart we can see that the British pound is around the second weekly pivot: we do not recommend buy deals at current levels, only if the pair closes above 1.5497, above the W_S2. With objectives to the 200 day moving average around 1.5800. At 1.5820 is the weekly fractal and is very likely that in this area the pair will find strong resistance as we can see on the chart.

The Momentum indicator is starting to show bullish signals.

Performed by Gerardo Porras, Analytical expert

 

[timepass]

Re: EUR/USD Intraday Technical Analysis 2012-05-31

The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.2430 and is likely to initiate a decline. However, a breakdown of these levels will release significant potential enabling to reach its upper limit in 1.2550.

Technical indicators provide sellers signals confirming the assumption of a decline. Bollinger bands are much discarded due to the strong decline that took place these days. The situation is expected to stabilize soon.

According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.2430 with the 1st objectives seen at 1.2490 and 1.2510 levels. A breakdown of 1.2410 will cancel this scenario.

Performed by Albert Fitoussi, Analytical expert

Johny5, since last 2-3 days, it seems that your forecast is out of sync with the prevailing price. Even today, this pair has been trading below 1.2410 for more than 2 hours now when you say "A breakdown of 1.2410 will cancel this scenario". You have posted your observation after the invalidating scenario has taken place, thus making the forecast pointless. In future, kindly check the CMP before posting your forecast.

 

[johny5]

EUR/USD Rebound For June 01 (Weekly Strategy)

The EUR/USD pair is currently recovering having the support at 1.2285. We believe that it is very diffiluct to break it through.

Therefore recommend you buy at that price level or if the pair closes above 1.2400, enter buying with medium-term objectives near 1.2950.

The Stochastic indicator is showing bullish signals.

Performed by Gerardo Porras, Analytical expert

 

[johny5]

GBP/USD Intraday Technical Analysis 2012-06-01

The spot rate is presently testing the lower limit of its medium term bearish channel at 1.5340 and is likely to initiate a rebound. However, a breakdown of these levels will reveal significant potential and initiate a more violent bearish trend.

Technical indicators provide buyers signals and evolving in oversell zone supporting the assumption of a rebound. Bollinger bands are much discarded as a result of a strong recent decline. The situation is likely to stabilize soon.

According to previous events the market will provide a bullish opportunity at the level of 1.5340 with 1st objectives seen at 1.5400 and 1.5420. A breakdown of 1.5320 will cancel this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical Analysis 2012-06-04

Presently the spot rate is testing the upper limit of its medium term bearish channel at 1.5380 and is about to decline. However, a breakdown of these levels will reveal significant potential and initiate a violent bullish trend.

Technical indicators do not provide clear signals but as the resistance level is unbroken, the assumption of a decline is relevant. 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 provide a bullish opportunity as soon as the spot rate has broken through its resistance 1.5380 with the 1st objective seen at 1.5440 and 1.5460 levels. A breakdown of 1.5360 level will cancel this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Wave Analysis. Weekly Survey

Wave marking analysis:
As a result of last weeks trades the EUR/USD continued its downward movement. Having lost another 300 pips, the pair tested the level of figure 23. Despite the elaboration of the significant price level 1.2340, the inner wave structure of the descending part of the trend beginning in early May, looks as not completed yet. Thus, the price is likely to decrease further towards the point 1.2000. At the same time the MACD divergence points that correction of the whole descending movement lasting for 10 figures is necessary.



Targets for the option with the wave 4 in 5:
1.2528 23.6% according to Fibonacci
1.2673 38.2% according to Fibonacci

Targets for the option with the wave 5 in 5:
1.2340 423.6% according to Fibonacci

General conclusions and trading recommendations:
During the last week the euro continued its descending movement. Therefore, this week the quotes are likely to drop further within the wave 5 in 5 towards the 1.2340 which corresponds to 423.6% of Fibonacci. The rate can form the 4th wave from the current positions towards the points 1.2528 and 1.2673 which is equal to 23.6% and 38.2% of Fibonacci. MACD is located in the negative area indicating that the wave 4 is likely to begin in the nearest future. Also the MACD points at convergence that confirms the possible formation of the ascending correction.

Performed by Alexander Dneprovskiy, Analytical expert