Technical Analysis - page 2
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Technical Analysis and Trading Recommendations
GBP/USD
July 8, 2011.
Psychological Level at 1.5930
The GBP/USD's subsequent sharp fall suggests that decline from 1.6448 and had resumed to 1.5957 yesterday. And it is now approaching from the psychological level of 1.5930, moreover, it is also between the 50% Fibonacci Retracement and 38.2% (daily chart). If the trend will break this level and closure below it, then it will be a downside momentum is rather convincing and the structure of the fall looks is not corrective, therefor the market will indicate a Bearish opportunity below 1.5930 then the Support will be become a Resistance, hence it will a good sign to Sell below 1.5930. Meanwhile, if the pair can't break this level, it will probably recovery and choppy rise from this level extended further next days, for that it will be a good sign to buy above 1.5960.
Recommendations:
According to previous events the price still flapping between 1.6000 and 1.5950.
1. Below 1.5930 look for further downside with 1.5850 and 1.5800 targets.
2. Buy positions above 1.5960 with target 1.6015 then 1.6085.
Technical Analysis and Trading Recommendations.
EUR/USD.
JUly 11, 2011.
Pivot Point: 1.4281
Outlook:
Last week, the EUR/USD has downside movement from 1.4581 to 1.4212, and today the market has opened at 1.4205.
1st: Uptrend represents the triple bottom of the channel emerging.
2nd: The RSI has still positive on the weekly frame, hence it calls for a new upleg.
3rd: A strong Support at 23.6% Fibonacci Retracement level.
Therefor, the price movement will be trapped between 1.4140 and 1.4417 (Fibonacci Retracement levels). Moreover With 1.4140 a major Support, there, the market will indicates a Bullish opportunity on level of 1.4200/1.4140, with a first target at Pivot Point (1.4281), then if break 1.4300 will be a breakout above this level with a second target at 1.4400. However, the best location for placing a stop loss should be below 1.4100.
Technical Levels:
Technical Analysis
EUR/USD
July 12, 2011.
Pivot Point: 1.4081
Overview:
The EUR/USD's subsequent sharp fall suggests that decline from 1.4227 and it could break Support at 1.4100. Therefore it was turned to Resistance, and the price has still trapped between 61.8% Fibonacci Retracement levels and 50%. Moreover, should be noted that on daily chart the RSI is still going down, hence it is a good sign to sell below 1.4100 with a first target of 1.4040 and continue towards 1.3950. On other hand, if it is approaching from the RSI/70 then it will be saturation around 1.3907 to rebound the price.
Technical Levels:
R3: 1.4416
R2: 1.4322
R1: 1.4175
PP: 1.4081
S1: 1.3934
S2: 1.3840
S3: 1.3693
Technical Analysis and Trading Recommendations
EUR/USD
July 13, 2011.
Technical Levels:
R3: 1.4302
R2: 1.4181
R1: 1.4078
PP: 1.3957
S1: 1.3854
S2: 1.3733
S3: 1.3630
Overview:
The EUR/USD's subsequent sharp fall suggests that decline from 1.4227 and it could break Support at 1.4100. Therefore it was turned to Resistance, and the price has still trapped between 61.8% Fibonacci Retracement levels and 50%. Moreover, should be noted that on daily chart the RSI is still going down but if it is approaching from the RSI/30 then it will be saturation around 1.3825 to be possible to rebound the price, hence it is a good sign to sell below 1.4000 with a first target of 1.3875 and continue towards 1.3825. Meanwhile, it will also a good sign to Buy above 1.4080 with a traget of 1.4178.
Recommendations:
According to previous events the price still trapped between 1.4100 and 1.3900.
1. Below 1.4075 look for further downside again with a target of 1.3875.
2. Buy positions above 1.4080 with a target of 1.4178.
Technical Analysis.
NZD/USD
July 13, 2011.
Overview:
The NZD/USD has declined to test 0.8200, it will be possible to continued straight from this Support again, hence the Kiwi is shown signs of strenght following the break of the highest level of 0.8200 since two weeks. As well as, a break of the high of an inside bar it is a good sign to buy above the level of 0.8200 with a first target of 0.8300 and futher to 0.8350. However, in case of reversal takes place and the NZD/USD breaks through the Support level of 0.8200 and closure below it on daily chart, then the market will lead to futher decline to 0.8000, in order to indicating the correction movement. Moreover should note a point of view that the EMA25 (Red) have to cross over the EAM50 (Green), it would be more of a confirmation for downtrend. Nowadays, should be noted that the RSI is on the 50 and calls for neutral.
Technical Analysis.
EUR/JPY.
July 14, 2011.
Pivot Point: 111.25
Overview:
The EUR/JPY's recovery at Tweezer Bottom and was rebounded from 109.70, it continued straight and it is shown signs of strenght following the level of 109.70 since two days. Moreover, uptrend represents the Tweezer Bottom of the channel emerging, and it shows a strong Support at 23.6% Fibonacci Retracement level. As well as, The RSI has still positive on the weekly frame, hence it calls for a new upside. Therefore, the market start indicating a Bullish opportunity on level of 111.70 with a first target of 113.30 and continue towards 115.00. However; The best location for placing stop loss bellow 23.6% Fibonacci Retracement Level.
Technical Levels:
R3: 115.18
R2: 113.61
R1: 112.82
PP: 111.25
S1: 110.46
S2: 108.89
S3: 108.10
Technical Analysis and Trading Recommendations
GBP/USD
July 15, 2011.
H4
Pivot Point: 1.6147
Overview:
The GBPUSD's Resistance has broken and it was turned to Support since three days and, therefor the pair has already formed a Strong Support at 1.6084. Moreover, after breaking 38.2% and start signing for Bullish market, and the price has placed above 50% Fibonacci. hence, should be note that the price has still trapped between 50% Fibonacci Retracement levels and 61.8%. As well as, the RSI is still calling for uptrend. hence it is a good sign to Buy above 1.6084 with a first target of 1.6200, and continue towards 1.6300. Meanwhile, it will also a good sign to Sell below 1.6050 with a target of 1.5950.
Recommendations:
According to previous events, the price has still trapped between 1.6084 and 1.6193.
1. Buy above 1.6084 with target 1.6185 then 1.6250.
2. Below 1.6050 look for further downside with 1.5990 and 1.5935 targets.
Technical Levels:
R3: 1.6280
R2: 1.6236
R1: 1.6191
PP: 1.6147
S1: 1.6102
S2: 1.6058
S3: 1.6013
Technical Analysis.
EUR/USD
July 19, 2011.
Pivot Point: 1.4085
Overview:
As expected, the EUR/USD's turbulent rise from 1.3840 has extended further to as high as 1.4282 a week ago. It should be noted that the price has still been trapped between 50% Fibonacci Retracement levels and 61.8%, Moreover, after it couldn't close below 50% Fibonacci Retracement, the market started showing the signs of Bullish market, and the price has been set above 50% Fibonacci five months ago (18th of March 2011). Therefore, the market indicates a Bullish opportunity on level of 1.4025 with a first target of 1.4250, and continues towards 1.4300. Meanwhile, the RSI is below 50 on daily chart, meaning it is still calling for downtrend on level of 1.4000 and continues Bearish towards 1.3850.
Technical levels:
R3: 1.4276
R2: 1.4204
R1: 1.4157
PP: 1.4085
S1: 1.4038
S2: 1.3966
S3: 1.3919
Technical Analysis.
GBP/USD
July 20, 2011.
Pivot Point: 1.6116
Overview:
The GBPUSD broke the resistance at 1.6015 and turned back to support a week ago. Therefore the pair has already formed a strong Support at 1.6084 on H4 chart, further rise could be formed a double top and traget would be at 1.6193. Moreover, after breaking 38.2% and start signing for Bullish market, it should be note that the price has been set above 50% Fibonacci Retracement level. As well, the RSI is still calling for uptrend on daily chart. Thus, according to previous events, the pair has still trapped between 1.6180 and 1.6015, so it is a good sign to Buy above 1.6200 with a first target of 1.6275, and continue towards 1.6325. Meanwhile, if the pivot point (1.6115) breaks and closure below it on H1 it will also a good sign to Sell below 1.6095 with a target of 1.5980.
Technical Levels:
R3: 1.6330
R2: 1.6253
R1: 1.6193
PP: 1.6116
S1: 1.6056
S2: 1.5979
S3: 1.5919
Technical Analysis.
EUR/USD
July 20, 2011.
Pivot Point: 1.4147
Overview:
As expected, the EUR/USD's turbulent rise from 1.3840 has extended further to as high as 1.4282 a week ago. It should be noted that the price has still been trapped between 50% Fibonacci Retracement levels and 61.8%, Moreover, after it couldn't close below 50% Fibonacci Retracement, the market started showing the signs of Bullish market, and the price has been set above 50% Fibonacci five months ago (18th of March 2011). Therefore, the market indicates a Bullish opportunity on level of 1.4125 with a first target of 1.4250, and continues towards 1.4335. Meanwhile, the RSI is below 50 on daily chart, meaning it is still calling for downtrend on level of 1.4075 and continues Bearish towards 1.395.
Technical levels:
R3: 1.4373
R2: 1.4295
R1: 1.4225
PP: 1.4147
S1: 1.4077
S2: 1.3999
S3: 1.3929