Forex Technical Analysis - page 5
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GBP/USD Mid-Day Outlook 2 Februari 2012
Daily Pivots: (S1) 1.5707; (P) 1.5751; (R1) 1.5805;
GBP/USD's rally resumed after brief consolidations and intraday reaches as high as 1.5868 in early US session. As discussed before, the fall from 1.6746 might be finished at 1.5234 already. Further rise would be seen to 1.6165 key cluster resistance for confirmation (61.8% retracement of 1.6746 to 1.5234 at 1.6168). On the downside, below 1.5706 minor support will turn intraday bias neutral and bring consolidations first before staging another rally.
In the bigger picture, price actions from 1.3503 are treated as consolidations to long term down trend from 2.1161. At this point, we're favoring the case that such consolidation is either finished with three waves to 1.6746, or five waves as a triangle at 1.6165. Deeper decline is in favor to 1.4229 key support and decisive break there should extend the long term down trend through 1.3503 low. Meanwhile, strong rebound ahead of 1.4229, or a break of 1.6165, will dampen the immediate bearish view and extend the consolidation from 1.3503 instead.
EUR/USD Mid-Day Outlook 2 Februari 2012
Daily Pivots: (S1) 1.3010; (P) 1.3112 (R1) 1.3182;
EUR/USD rebounded strongly after hitting 4 hours 55 EMA but i staying below 1.3233 temporary top. Thus, intraday bias remains neutral. Sustained break of 38.2% retracement of 1.4246 to 1.2625 at 1.3244 will resume the rebound from 1.2625 and target 61.8% retracement at 1.3627. On the downside, break of 1.2931 minor support will suggest that corrective rise from 1.2625 was already finished and the larger decline from 1.4939 is likely resuming for a new low below 1.2625.
In the bigger picture, price actions from 1.6039 are unfolding as a consolidation pattern in the long term and is in progress. Fall from 1.4939 is a falling leg inside the pattern. It's hard to anticipate the length of a leg of any complex corrective pattern. Also, price actions would likely remain choppy and indecisive with misleading momentum indicator readings. But after all, overall picture still favors deeper fall to 1.1875 support before the consolidation pattern completes. Though, sustained trading above 55 weeks EMA (now at 1.3653) will pave the way for a test on 1.4939 resistance level.
GBP/USD Mid-Day Outlook 7 Februari 2012
Daily Pivots: (S1) 1.5759; (P) 1.5809; (R1) 1.5869;
GBP/USD dips further to 1.5729 so far today as consolidation from 1.5882 temporary top extends. More corrective trading would be seen. But again. near term outlook remains cautiously bullish with 1.5641 cluster support intact (38.2% retracement of 1.5234 to 1.5882). Above 1.5882 will target a test on 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already. On the downside, below 1.5641 support flip bias back to the downside for 1.5234 support instead.
In the bigger picture, price actions from 1.3503 are treated as consolidations to long term down trend from 2.1161. At this point, we're favoring the case that such consolidation is either finished with three waves to 1.6746, or five waves as a triangle at 1.6165. Deeper decline is in favor to 1.4229 key support and decisive break there should extend the long term down trend through 1.3503 low. Meanwhile, strong rebound ahead of 1.4229, or a break of 1.6165, will dampen the immediate bearish view and extend the consolidation from 1.3503 instead.
EUR/USD Mid-Day Outlook 7 Februari 2012
Daily Pivots: (S1) 1.3085; (P) 1.3145 (R1) 1.3224;
EUR/USD dips back to 1.3030 so far today but is staying in tight range. Intraday bias remains neutral first. On the upside, sustained break of 38.2% retracement of 1.4246 to 1.2625 at 1.3244 will resume the rebound from 1.2625 and target 61.8% retracement at 1.3627. On the downside, break of 1.2931 minor support will suggest that corrective rise from 1.2625 was already finished and the larger decline from 1.4939 is likely resuming for a new low below 1.2625.
In the bigger picture, price actions from 1.6039 are unfolding as a consolidation pattern in the long term and is in progress. Fall from 1.4939 is a falling leg inside the pattern. It's hard to anticipate the length of a leg of any complex corrective pattern. Also, price actions would likely remain choppy and indecisive with misleading momentum indicator readings. But after all, overall picture still favors deeper fall to 1.1875 support before the consolidation pattern completes. Though, sustained trading above 55 weeks EMA (now at 1.3637) will pave the way for a test on 1.4939 resistance level.
GBP/USD Mid-Day Outlook 8 Februari 2012
Daily Pivots: (S1) 1.5759; (P) 1.5809; (R1) 1.5869;
GBP / USD bullish with price support at 1.5641 (38.2% retracement of 1.5234 to 1.5882). Above the price of 1.5882 will target 1.6165 resistance tests on the price (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Breakdown of the price would confirm that the overall decline in the price of 1.6746 to 1.5234 over the price already. On the reverse side, below 1.5641 indicates the price will go back to the downside for 1.5234 support prices.
EUR/USD Mid-Day Outlook 8 Februari 2012
Daily Pivots: (S1) 1.3058; (P) 1.3100 (R1) 1.3172;
Breakdown of the 38.2% retracement of 1.4246 to 1.2625 at 1.3244 price will continue to rebound from a target price of 1.2625 and 61.8% retracement at 1.3627 price. Daily biased upward trend. On the other hand, breakdown of the price of 1.2931 support will indicate that corrective rise from 1.2625 has completed and the price decline is greater than the price of 1.4939 is likely to continue for the price is below 1.2625. 1.2625.
EUR/USD Mid-Day Outlook 9 Februari 2012
Daily Pivots: (S1) 1.3143; (P) 1.3206 (R1) 1.3323;
Daily bias in EUR / USD remains on an upward trend for the time being. Rebound from 1.2625 price target 61.8% retracement of 1.4246 to 1.2625 which is in the price of 1.3627. On the contrary, through support price of 1.3028 indicates that rebound completion signal, the short-term outlook will remain slightly bullish.
GBP/USD Mid-Day Outlook 9 Februari 2012
Daily Pivots: (S1) 1.5820; (P) 1.5863; (R1) 1.5938;
Daily bias in GBP / USD remains on an upward trend and the current target price of 1.5234 to 1.6165 resistance rates (61.8% retracement of 1.6746 to 1.5234 which is in the price of 1.6168). Breakdown of the price would confirm that the overall decline in the price of 1.6746 to 1.5234 over the price already. On the contrary, through the price of 1.5729 support indicates the formation of the peak, short-term outlook will remain cautiously bullish.
EUR/USD Mid-Day Outlook 10 February 2012
Daily Pivots: (S1) 1.3224; (P) 1.3256 (R1) 1.3291;
Intraday bias in EUR/USD remains on the upside with 1.3214 minor support intact. Current rise from 1.2625 is expected to continue towards 61.8% retracement of 1.4246 to 1.2625 at 1.3627. On the downside, below 1.3214 minor support will turn bias neutral and bring consolidation. But break of 1.3028 support is needed to signal completion of such rebound. Otherwise, near term outlook will remain mildly bullish even in case of retreat.
GBP/USD Mid-Day Outlook 10 February 2012
Daily Pivots: (S1) 1.5765; (P) 1.5847; (R1) 1.5896;
Intraday bias in GBP/USD remains neutral for the moment and more consolidation could be seen below 1.5928 temporary top. But near term outlook remains cautiously bullish as long as 1.5729 support holds. Above 1.5928 will target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already.
EUR/USD Weekly Outlook 13 Februari 2012
Despite edging higher to 1.3321 last week, EUR/USD lost momentum from there and retreated sharply. A short term top is likely in place with bearish divergence condition in 4 hours MACD. Initial bias is neutral this week with focus on 1.3028 support. Break there will indicate completion of the rebound from 1.2625 and bring retest of this support. Also, in that case, whole decline from 1.4939 is likely resuming for another low below 1.2625. On the upside, above 1.3321 will extend the rebound from 1.2625 towards 61.8% retracement of 1.4246 to 1.2625 at 1.3627.
Technical Analysis EUR / USD August 21, 2013
Bias Daily EUR / USD remains on the upside for the moment. Corrective pattern from 1.3710 has completed and the possibility of further rally would be seen to test this resistance (1.3710). Instead, break of 1.3205 indicates a short-term reversal signal. Otherwise, outlook bullish.
Technical Analysis GBP / USD August 21, 2013
Further rally is still supportive. We will remain cautious on reversal around 1.5751 and 100% projection of 1.4813 to 1.5433 from 1.5101 at 1.5721. Break 1.5422 (minor support) will turn bias back to the downside. However, the short-term outlook remains bullish. Break of 1.5751 will have larger bullish implication and will change the focus to 1.6380 (resistance).
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