Technical analysis on EU,GU and major pairs-part 2

[johny5]

GBP/USD Technical Correction for September 12, 2012

The pound sterling recorded a maximum level of 1.6130 which coincides with the daily fractal of 1.6129, the second weekly resistance is placed 33 pips above at 1.6163. Given that the markets are bullish, the pair may find a strong resistance at these levels. We, therefore, recommend selling below the 1.6129 fractal, with objectives at the nearest support of 1.5958.

The MACD indicator is showing an imminent correction in the price of the pound.

Performed by Gerardo Porras, Analytical expert

 

[johny5]

EUR/USD Intraday Technical Analysis 2012-09-13

The spot rate has been testing since yesterday the intermediate resistance of its medium-term bullish channel at 1.2930 suggesting a decline. However, a break of this level will release a good potential and enable the upper limit of its channel at 1.2990.

Technical indicators provide sell signals and approach overbuy zone. Moreover, 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. Furthermore, the superior band strengthens the intermediate resistance supporting the assumption of a violent movement in case of failure.

As the spot rate is currently testing the intermediate resistance of its channel, we suggest 2 scenarios: the first one is the hypothesis of a decline where we recommend a sell at the level of 1.2930 with the 1st objective at 1.2870 and then at 1.2850. A breakthrough of 1.2950 will invalidate this scenario. The second scenario is a break of its resistance where we advise a buy stop which means buying the spot rate as soon as it is broken through its resistance of 1.2930 with the 1st objective at 1.2990 and then at 1.3010. A breakthrough of 1.2910 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical Analysis 2012-09-13

The spot rate has been testing since yesterday the intermediate support of its medium term bullish channel at 1.6110 suggesting a rebound. However, a break of these levels will release a large potential and enable the lower limit of its channel at 1.6070.

Technical indicators provide sell signals but approach an overbuy zone supporting the assumption of a decline in a short-term. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. Furthermore, spot rate evolves at the level of the superior band supporting the assumption of a violent movement in case of failure.

As the spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios: the first one is the hypothesis of a rebound where we recommend a buy at the level of 1.6110 with the 1st objective at 1.6170 and then at 1.6190. A breakthrough of 1.6090 will invalidate this scenario. The second scenario is a break of its support where we advise a sell stop which means selling the spot rate as soon as it is broken through its support of 1.6110 with the 1st objective at 1.6050 and then at 1.6030. A breakthrough of 1.6130 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Bullish Outlook for September 14, 2012

Amid the Feds announcement about monetary easing program expansion, the British pound gained strength.
As the currency was appreciated yesterday, it reached the record high of 1.6250. According to Fibonacci sequence, we expect a decline to 23.6%; buy when the level of 1.6012 is met. Indicators are showing an overbought position. The targets are to be placed at 1.6250 and higher at 1.65.

Performed by Gerardo Porras, Analytical expert

 

[johny5]

EUR/USD Bullish Outlook for September 14, 2012

The Fed announced a new plan in order to stimulate the U.S. economy at the meeting that ended on Thursday. This should continue to keep rates exceptionally low in the United States until the end of 2015 and go on well after economic recovery.
At the technical level, we note that the euro is above 200 day moving average period, which that the rate is going to maintain an upward trend for a long time until the next target of 1.35 and reach 1.40 at the end of the year. Everything depends on how good the situation is in the Eurozone countries, here the euro appreciated only by a weak dollar, but still the problems are not solved.
In the short-term we recommend buying a return to the 200 day moving average around 1.2880 periods with goals at 1.32 and above at 1.35.

Performed by Gerardo Porras, Analytical expert

 

[johny5]

GBP/USD Intraday Technical Analysis and Trading Recommendations for September 17, 201

The GBPUSD pair continued its bullish movement last week recording a high at 1.6254.

As seen on the daily chart above, the price broke through a long-term trendline resistance suggesting a further bullish scenario at least towards 1.6315 corresponding to 78.6% Fibonacci.

The view remains bullish in short-term testing 1.6300 1.6350 zone.

Intraday support is seen around 1.6160. However, an obvious break below that level could lead price to neutral zone in nearest term testing 1.6130-1.6050, while a longer-term support is seen around price level 1.5920 (50% Fibonacci Level).

Performed by Mohamed Samy, Analytical expert

 

[johny5]

EUR/USD Intraday Technical Analysis and Trading Recommendations for September 17, 201

The EUR/USD pair resumed its bullish movement last week recording a high at 1.3167.

As it is seen on the chart above, the view remains bullish in near-term as long as the pair is trading above 78.6% Fibonacci level around 1.3015.

Intraday support is seen around 1.3090. However, breakdown below that area could lead price to neutral zone in nearest term testing 1.3050 1.2970 while a longer-term support is seen around price level 1.2810 (61.8% Fibonacci Level).

Performed by Mohamed Samy, Analytical expert

 

[johny5]

EUR/USD Technical Correction for September 18, 2012

The EUR/USD shows a correction we had expected; right now it is trading at the daily support level of 1.3270 resistance level and was very strong due to the attempt to break on two occasions. It is possible to continue its correction for next few days until the 1.2920 fractal, which coincides with the retracement level of 23.6% Fibonacci lines. We recommend buying at this level, with objectives at 1.3170. A close below 1.29 will start a longer bearish sequence.
Trend indicators together with MACD are showing overbought levels.

Performed by Gerardo Porras, Analytical expert

 

[johny5]

GBP/USD Sell Bellow 1.63 for September 18, 2012

The British Pound is more stable now, although it is influenced by an upward force. Given that many pairs may take significant corrections during the next few days, there is a correction of key level towards 1.60. Taking into consideration the opportunity we have against the actual uptrend, we recommend selling at support level of 1.6035. as the stop loss will place it above the highest recorded level of 1.63 fractal. The last candlestick is showing an imminent correction in the price of the pound. Indicators are showing overbought levels.

Performed by Gerardo Porras, Analytical expert

 

[timepass]

Re: EUR/USD Technical Correction for September 18, 2012

The EUR/USD shows a correction we had expected; right now it is trading at the daily support level of 1.3270 resistance level ...
Performed by Gerardo Porras, Analytical expert

When did it reach the 1.3270 level ??

PS : Also, your chart is not clear even on enlargement. Can you please post larger pictures. Thanks.