Forex4you Technical Analysis

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Forex4you Technical Analysis 15/12/10

EUR/USD: Technical Analysis

Key resistance 1.3450/60 proved its strength and didn't let the price go further, so it returned to a decline. Indicators are turning down, though the readings are still unclear and vague. Considering this fact, we recommend to be cautious regarding future outlook. Fall and fixation below 1.3320/10 will initiate further decline to 1.3150/40 with a possible fall to the lower supports at 1.3050/60, 1.2980/70. Reversal up, above 1.3400/10 means that the "bullish" potential is still there. If so, we'll be expecting new attempts to rise above 1.3450/60.

GBP/USD: Technical Analysis

Attempts to go beyond level 1.5900/1.5890 failed, so the price returned to 1.5710. This level has been quite a good support recently, as well as today - the level has prevented the "bears" from further decline, so the price bounced to 1.5340/45, where it currently resides. Indicators suggest a downward movement. In this case it's worth considering support 1.5310/00 breakout as a signal to further decline to minimums at 1.5480/90, with possible stops at 1.5650, 1.5590, 1.5530. A reversal to the "bullish" trend is only possible if the trading rises above resistance 1.5840.

USD/JPY: Technical Analysis

Reversal below support 83.90 triggered not only further decline to 83.40, but also initiated a plunge to 82.90/80. This support has stopped the "bears", so the trading is now carried out at 83.80/95. To proceed with their growth the "bulls" have to pass a challenging range 83.95 – 84.40. Indicators are being unclear, which suggests a possible sideways correction with support at 83.60/50. The breakout of the above mentioned key resistance will give reasons to expect growth to 84.80/85.00. Level 83.40/30 breakout is likely to initiate a new fall to level 82.80/90 .

Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

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Forex4you Technical Analysis 16/12/10

EUR/USD: Technical Analysis

Support 1.3320/10 breakout suggested realization of further down trend scenario. The price plunged towards resistance level 1.3220/30, where it still consolidates. Indicators are turned down, giving more reasons to expect a decline, the trading is very likely to sink towards 1.3150/40. There is also a high possibility that a down trend expands to supports – 1.3050/60, 1.2980/70. At the same time, it's worth noting, that the support level, which is being tested at the moment has already proved its strength recently, so we recommend to consider sideways consolidation within 1.3300/10 – 1.3220 as well. Reversal above 1.3400/10 and attempts to breach resistance 1.3450/60 will indicate the "bullish" potential.

Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

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Forex4you Technical Analysis 20/12/10

EUR/USD: Technical Analysis

Forecast about the upcoming correction to growth proved to be correct, though a decline was continious and the price met support only at level 1.3150/40. Currently, the trading is carried out at 1.3160/70. Indicators are turned down, suggesting to expect the "bearish" trend as a higher possibility. So, a decline is likely to continue, with the next support seen at 1.3050/60. Nevertheless, level 1.3150/40 seems to be strong enough to hold back a decline for quite a long time, which gives reasons to expect further correction within the range 1.3200/1.3180 – 1.3150/40. The alternative scenario - level 1.3400/10 - 1.3450/60 breakout with the following fixation above- will be a signal to changes in the market moods.

GBP/USD: Technical Analysis

Minimums at 1.5480/90 were tested like it had been expected and the price took another attempt for further decline, only touching level 1.5450. Then the price retraced upwards and is currently consolidating around levels 1.5540/50. Indicators seem to be turning up, though it can only be seen at R%. The growth may continue, and the biggest progress will be made at resistance 1.5650/60. Reversal to a down trend from the current levels is also a possibility and level 1.5480 breakout will initiate a decline to the next support at 1.5400/10. Significant changes in the market moods and further growth will only take place in case the price breaches level 1.5710/20 and fixes above.

Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

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Forex4you Technical Analysis 21/12/10

EUR/USD: Technical Analysis

Yesterday EUR/USD fell to support at the 200 day MA and the monthly pivot at around 1.3095. From there it has bounced, probably in an Elliot 4th wave back up to 1.3200 and since begun to turn lower, perhaps at the beginning of the 5th wave down this morning. It will probably return to match the 1.3095 lows before possibly another bounce back up to 1.3200.

GBP/USD: Technical Analysis

The pair is trading sideways and the price remains within the range, limited by the levels 1.5570/80 – 1.5480. The trading is currently carried out at 1.5550. Indicators are being unclear and don't show any particular direction, which makes the outlook rather vague. Thus, it would be a good idea not to make any hasty decisions and wait till the price escapes from a given range. The upsurge will indicate further growth to resistance 1.5650/60, a fall below 1.5480 will initiate a decline to the next support 1.5400/10. It's worth watching SS at the moment - its escape from the over-sold zone suggests the "bullish" sentiment.

USD/JPY: Technical Analysis

Assumptions of the last comment rpoved to be correct and the price failed to breach resistance range 83.95 – 84.40, suggesting further sideways movement. The price currently resides at 83.60/50, which is considered a support level for this consolidation range. Indicators don't suggest any particular direction, which makes further correction within a given range quite a possibility. Even if support 83.50 is breached, a decline won't last long and go beyond support 83.30. Resistance 83.95-84.40 breakout, on the other hand, will trigger growth to the target level 84.80/85.00.

Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

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Forex4you Technical Analysis 22/12/10

GBP/USD: technical analysis

A fall below 1.5480 promoted the "bearish" movements in the market and the price continued to decline, reaching level 1.5420/30, though it currently resides at 1.5440. Target 1.5410/00 hasn't been reached yet, but there are reasons to expect it anyway, regarding the present situation. Indicators suggest the "bearish" trend, MACD, on the other hand, is forming "bullish" divergence. So it's worth considering a large-scale pullback upwards as well. Growth above resistance 1.5530/20 will be a signal to the pullback.

EUR/JPY: technical analysis

Yesterday the exchange rate dropped to support at the 109.50 lows as predicted. The bounce from there was short-lived and this morning we had falling prices once again which have reached 109.70 so far and will probably find support at 109.50 again. From there, there could be another bounce, perhaps to 110.00, which could complete the E wave of a triangle (which began at the lows of the 20th ). If so then ultimately we could see much lower prices after the triangle breakout, reaching perhaps down to the old lows at 108.40. Alternatively there may be a break to the upside targeting the 110.80 highs at the monthly pivot again.

EUR/USD: technical analysis

The "bears" were lucky yesterday and almost tested level 1.3050/60, reaching 1.3070. Then, a pullback followed, bringing the trading back to level 1.3150, which has become a strong resistance. The price is currently rebounding downwards and consolidating at 1.3130/20. Indicators are turned down, though R% registered the surge of growth. With no significant changes made, previous assumptions are still relevant - support 1.3050/60 is likely to be tested or even breached in the near future, which suggests risks for further decline to 1.2970/80. At the same time growth to 1.3230 or even to 1.3300/10 is a possibility, though it may commence from the current levels as well.

EUR/USD: technical analysis

The EUR/USD pair fell to support just below the 200 Day MA at 1.3075 yesterday evening and then bounced as expected. It is still rallying and could be expected to reach 1.3200 perhaps where the exchange rate will touch the upper channel line of the move down since the 17th. After that there is a possibility of another reasonably strong sell off, back down to the recent lows at 1.3075 perhaps.

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

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Forex4you Technical Analysis 23/12/10

GBP/USD: technical analysis

The price not only breached target level 1.5410/00, but passed beyond it, reaching level 1.5350/60. Then, the price rebound up and it's currently consolidating around 1.5400, at level 1.5390/80. Indicators suggest further "bearish" trend, although "bullish" MACD divergence gives reasons to be cautious and consider a possible large-scale pullback upwards. In this case, it's worth taking into account strong support at 1.5320/30, which has been holding back the "bears" for the whole August/September, but eventually triggered a reversal to a medium-term growth. If a decline continues now, this support will most likely become an insuperable hindrance for quite a long time. Growth above resistance 1.5530/70 will be a signal to a big pullback with the first target at 1.5650/60 and then - 1.5710/00.

EUR/USD: technical analysys

The pair repeated yesterday's scenario - having reached level 1.3070/80, it bounced upwards, testing resistance 1.3050/60, and then returned to decline. The trading is currently carried out at 1.3110/00. Indicators suggest a down trend. Since no significant changes have been made, the outlook remains the same - support 1.3050/60 is likely to be tested, and, in case of a breakout, the price may plunge even further, to 1.2970/80. Rebound upwards to 1.3230 and 1.3300/10 is also a possibility, even from the current levels.

USD/JPY: technical analysis

Support 83.30/40 has been holding back the "bears" for quite a long time, but this time it didn't, so the price declined to another strong barrier on the way down - level 82.80. Indicators turned down, suggesting further bearish trend. Support 82.80/90 breakout clears up the way to support 82.30 with a possible test of level 82.00. At the same time, currently tested level is strong enough to stop a decline, although reversal to growth is unlikely, at least for the near future.

EU6 - volume profile analysis

Hello, respected colleagues! The trades have been slack from the very beginning of the week, and my suggestion would be: buy on the "Europe", sell on "America". In fact, after each attempt to decline on the American session, the price immediately starts correcting to the opening prices. Today won't be an exception and new rotations in the range 1.307-1.318 will be tested. Level 1.308 is quite a good support for the "bulls", who want to play on a bounce. Being a "bull", I expect level 1.338 for a medium term, and the volume for action is enough. So, it's up to you. As for the fundamental front, it's worth paying attention to the American session - some significant data is coming out at the beginning of it, so volatility is quite a possibility.

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

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Forex4you Technical Analysis 27/12/10

EUR/USD: technical analysis

EUR/USD: structure analysis

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

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Forex4you Technical Analysis 28/12/10

GBP/USD: technical analysis

EUR/USD: technical analysis

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

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Forex4you Technical Analysis 29/12/10

EUR/USD: technical analysis

Analysis By forex4you
Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

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Forex4you Technical Analysis 30/12/10

EUR/USD: technical analysis

It seems that development in the US debt market has currently become the main driver for the stock market...

Analysis By forex4you
Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.