Forex4you Technical Analysis

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Forex4you Technical Analysis 14 March 2011

AUD/USD: technical analysis

Support 0.9980, which followed level 1.0030 hindered the "bearish" trend. The price grew to level 1.0150/60, met a strong resistnace, so it pulled back to 1.0075/90, where it still resides. Indicators have turned up, which says in favor of the previous forecast, that suggested reversal to growth and fixation above 1.0070/80. So, growth is likely to continue, first to level 1.0210, then to 1.0250/60. Decline below 1.0030/20 will cancel the "bullish" scenario.

GBP/USD: technical analysis

Concerns that support level 1.5980/90 might hold back a decline turned out to be correct. Having tested level 1.5975, the price pulled back up, tested resistance 1.6100, and it's currently consolidating around this barrier, making attempts to finally breach it. Indicators seem to be turning up, although the readings are not clear yet, so the situation is rather uncertain. Despite a recent fall below level 1.6100, mentioned previously as the key barrier on the way down, reversal to growth is still a possibility. If the price breeches resistance range at 1.6100-1.6150, we'll be expecting growth to the new local maximums at 1.6350/70. Until then, "bearish" trend should be considered dominating.

Analysis by: Joaquin Monfort
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 17 March 2011

EUR/USD: Technical Analysis

EUR/USD has rallied strongly after completing a fulcrum bottom pattern overnight. The target for the end of the rally, taken from the 1.3870 lows was at 1.4005, which has already been surpassed. This could signify that the rally is now overstretched and due a correction. The exchange rate will probably drift back down, therefore, to 1.4000 before generating another directional move.

Analysis by: Joaquin Monfort
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 18 March 2011

EUR/USD: Technical Analysis

Scenario, offered in the previous analysis has been correct - the price tested the 1.4080-1.4040 resistance range and it currently resides around levels 1.4045/50. Indicators suggest growth, which gives reasons to postpone pullback down expectations for some time and expect a decline to commence right from the current levels. Support at 1.3850 should be considered as the target for decline. 1.3850 level breakout, together with up trend line (blue line) breakout, followed by fixation below, will indicate cardinal swings in the market sentiment.


USD/JPY: Technical Analysis

Considering current developments, technical picture seems to produce small effect on this pair. Having tested 76.44 minimum level, the price suddenly rose, at first, following intervention messages, then the BoJ intervention itself. At the moment the price resides at 81.30. Seems like the yen will continue weakening, regarding present attacks on the yen from the most G-7 central banks too. However, we should consider resistance 83.10/82.90 strength anyway. The situation is rather vague and uncertain, so it would be good idea to be wary of opening new yen positions.

Analysis by: Joaquin Monfort
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 March 2011

EUR/USD: Technical Analysis

Previous forecast, saying that price may continue its growth and test 1.4130/1.4170 levels turned out to be correct. Touching 1.4180/70 level, the price began to pull back downwards. At the moment, trading is carried out around levels 1.4150/55. Indicators say in favor of growth, albeit the readings are not all unanimous, which gives reasons to consider a possible pull back, that may grow into quite a long-term sideways movement within 1.4080/70 – 1.4180/70 range. Decline below 1.4010/00 may indicate that a pullback is very likely to become a reversal. Final signal for a medium-term "bearish" trend would be support 1.3850 and up trend line (blue lines) breakout with the following fixation below. Until the price breaches the above mentioned support levels, the "bullish" trend should be considered "dominating". In case growth continues, level 1.4250/60 is considered to be the next target.


GBP/USD: Technical Analysis

Growth, forecasted in this pair, turned out to be correct. The price ascended, and it currently resides at level 1.6230/40. Indicators say in favor of the up trend. The "bulls" are likely to finally reach the targets, mentioned in the previous analysis - levels 1.6280/1.6300, but only in case they manage to overcome a significant barrier – a long-term trend line (green line), which links August and November 2009 maximums. This resistance level has already proved itself as a strong barrier, and it can prove it this time as well. Decline below support 1.6150 will give reasons t doubt of the "bullish" potential. Decline below 1.5990/80 support level with the following fixation below will indicate the beginning of medium-term "bearish" trend.

Analysis by: Joaquin Monfort
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 March 2011

EUR/USD: Technical Analysis

The current rally is still in progress. The next target on the 0.0005 chart is 1.4265, followed by 1.4385 on the larger 0.0015 box chart. The exchange rate will probably continue rising therefore, initially reaching the first of these targets before possibly going higher still.

Analysis by: Joaquin Monfort
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 23 March 2011

EUR/USD: Technical Analysis

Resistance 1.4250 level hindered growth, so the price now consolidates around level 1.4170/50. Indicators are turning down, suggesting to expect further decline. Yet, current pull back should be considered a correction within the up trend. Sideways movement in the range 1.4250 – 1.4130 is also quite a possibility, support level for this range may be moved lower, to 1.4060/50 level. A steeper decline will be considered as a signal to the change of sentiment in the market. Signals for reversal are the same - decline below 1.4010/00, and then level 1.3850/80 breakout - up trend line (blue lines). In case growth continues, the next strong resistance stands an 1.4300/1.4290 level, which matches with a long-term down trend line (red line).

GBP/USD: Technical Analysis

The price continued to grow, but only made it to 1.6400 level and then pulled back downwards, so now it resides at 1.6320/10. Indicators changed direction, suggesting further pull back down. If trading moves below the previously breached long-term down trend line (green line), we'll consider it as a sign of the weakening "bullish" potential. Until it happens, growth to 1.6450/60 or even to 1.6570/90 is still the highest possibility. 1.6140/50 – 1.6100 support range breakout would indicate a change of sentiment.

Analysis by: Arkady Nagiev
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 24 March 2011

EUR/USD: Technical Analysis

Several bearish targets have been met - at 1.4050 and 1.4085 and so it is possible the down move may have reached a conclusion. A consolidation period may begin from here - or a new move up, although it is too early to establish any meaningful upside targets yet and the only count so far yielded 1.4130 which has just been achieved.

Analysis by: Arkady Nagiev
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 25 March 2011

EUR/USD: Technical Analysis

The trend reversed yesterday and began rising. It will probably continue up as the 0.0015 box chart’s uptrend is intact and is still showing an upside target of 1.4385. However, the smaller 0.0005 box chart affords a more achievable target of 1.4265. It is quite possible that the exchange rate will continue to rise to that level.

GBP/USD: Technical Analysis

The price continued to decline and the "bears" managed to breach the 1.6140/50 – 1.6100 support range, which is the key one on the way down. At the moment the price resides at level 1.6080/70. Indicators suggest a down trend, which gives enough reason to expect further "bearish" development. In this case, previous forecast may come true and the price will eventually fall to 1.5980/1.6000 level, as soon as 1.6140/50 – 1.6100 range is breached. Should the price breach and hold above 1.6270/60 level, we'll be anticipating a reversal to growth.

Analysis by: Arkady Nagiev
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 28 March 2011

EUR/USD: Technical Analysis

The EUR/USD pair has fallen to just above an important trendline reaching back to the January lows. It will probably fall a little further to meet the trendline currently situated at roughly 1.3980 which also coincides with a monthly pivot line. From there, there is a good possibility of a bounce, and the level of the monthly pivot at 1.4131 could supply a possible target.

GBP/USD: Technical Analysis

The pair continued to slide downwards and the price passed 1.5980/1.6000 target support level, mentioned previously. At the moment the price resides at 1.5960/50 level, making attempts to hold below recently breached 1.5980/1.6000. Indicators are turned down, giving reasons to expect further decline. At the same time, there is a whole cluster of strong supports in the range, where the price currently resides. Therefore this decline may stop and the price may commence a sideways correction. Consolidation may take place from even lower levels - 1.5930/20, for instance. Should 1.5990 – 1.5930 range be easily breached, decline will be expected to stop after support 1.5840/50 level, which is likely to be tested in the near future.

Analysis by: Arkady Nagiev
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.