USD/CHF candlestick analysis for July 29, 2011

In a 4-hour graph the USD/CHF currency pair is consolidating near a psychologically relevant support level 0.8000.
Earlier in a 4-hour graph the USD/CHF formed a Shooting Star candlestick indicating downside movement confirmed further.
This candlestick shows that the USD/CHF was demonstrating upside movement for several days, but rebounded after a fail to break 0.8946. At the next attempt of the bulls to fixate above 0.8900 the bears started to increase their influence, which resulted in formation of this candlestick.
Successful testing of the support level 0.8747 proved this point of view. Break of 0.8458 which is also the 61.8 Fibonacci projection 0.9342-0.8552 to 0.8946 targeted the pair to 0.8350. Break of the 0.8350 level caused downside movement to psychologically relevant support level 0.8000. Its break might target the pair to 0.7900.
Stop loss should be placed slightly above the 0.8277 level as a break of this resistance level will target the pair to 0.8400.

http://instaforex.com/forex_analysis/34610/?x=OUE 

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EUR/USD Technical Analysis & Long Opportunity July 27, 2011

EUR/USD is in a solid uptrend contained in the marked bullish channel since July 7.
Now the pair is retracing towards the support level 1.4343 marked on the chart.
This level is a solid support as it's confluence of the Fibonatcci levels , retest of the short term bearish channel broken before and the lower limit of the long term bullish channel.
So as we see the pair, the market offers a LONG opportunity around 1.4343 with TP at 1.4435 then 1.4515 .
SL should be 4H closure outside the bullish channel.

http://instaforex.com/forex_analysis/34492/?x=OUE

EUR/USD Intraday technical analysis July 26, 2011

The pair is now trying to break the bearish channel on the daily chart under the influence of the bad news of USD.
If the pair manages to close the way it's now, it will be a good chance to go long on retest of the backside of the channel (around 1.4400 - 1.4440 )  on its retesting.
This move if confirmed is targetting at least 1.4560 which is a strong resistance level.

On the 4H chart, the pair has broken a short-term channel waiting for its retest at around 1.4400-1.4440  to go long.
Area mentioned above is a good one to go long at as it's 38.2% Fibonatcci and the backside of the broken bearish channel and near the ascending lower limit of the bullish channel.
TP is 1.4480, 1.4520 then 1.4560.
SL should be 4H closure below 1.4325.

http://instaforex.com/forex_analysis/34370/?x=OUE

EUR/USD Intraday Technical Analysis & Possible Scenarios - July 20, 2011

Yesterday's long position achieved its target as we expected.
Now the pair is facing resistance at the SUPPLY area 1.4200 - 1.4215 marked in red circle on the chart.

The previously mentioned supply area is also 50% Fibonatcci Retracement Level of the bearish wave from 1.4580.
Also the pair is facing the upper limit of the symmetrical triangle marked above.
Expected Scenario:
After a bullish day (Yesterday), the resistance (supply) area 1.4200 limited the pair from further upside movement.
Also bullish candlesticks became weak indicating strength of the bears there.
The view for the day is mainly bearish as long as the pair is trading below 1.4200.
Its expected for the pair to visit 1.4090, 1.4050 then 1.4030.
In case the pair closes above 1.4200, it's easy to reach 1.4285-1.4300.
Trade Recommendations:
SELLING near 1.4180 - 1.4200 with TP 1.4100 then 1.4050 with caution at 1.4130 as it's a strong support level.
SL should be 4H closure above 1.4200.

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USD/CHF wave analysis for July 20, 2011

After demonstrating good dynamics during yesterday’s trading the USD/CHF pair managed to gain over 100 pips. At the same time the wave structure indicated on the graph since the beginning of this week looks like an almost completed correction. If so, the CHF can resume upside movement fromyesterday’s levels or from the 83 figure level declining in the direction of July 13 low within the future 3rd wave, in the 5th.

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USD/JPY Intraday Technical analysis 2011-07-19

The spot rate has bounced on the lower limit of its medium-term bearish channel and is currently testing the intermediate resistance of this one in 79.60. A break of these levels would allow it to reach the upper limit of its channel to 81.40.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 79.60 with a 1st objective of 80.10, then 80.40. A break in 79.40 would invalidate this scenario.

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EUR/USD Technical Analysis & Possible Scenarios July 18, 2011

The pair is trading inside a long term bullish channel.
Last weekly closure came very bullish as the pair failed to close below the broken downtrend line marked above.
It's important to notice that the weekly candle is very bullish hummer from the signifcant support area 1.4060 - 1.4000 which is a high demand area.

On the daily chart, the pair is trading is a slightly bearish channel.
The situation is confusing as the pair has broken the uptrend line with successful retesting of the backside of this trendline.
The Expected Direction:
On the intermediate term, the pair remains bullish as long as it's trading above 1.3750 which is the lower limit of the bearish channel on the WEEKLY chart.
Also it's important not to lose the support 13970, as its break opens the way for the pair to test 1.3750.
On the short term, the pair is consolidating in a range between 1.3970 - 1.4280.
Break of the range to the downside opens the way for 1.3750-1.3770.
Break of the range to the upside opens the way for 1.4400 then 1.4500 - 1.4570.
http://instaforex.com/forex_analysis/33630/?x=OUE  

EUR/USD Retest of the broken triangle on the Daily July 15, 2011

EUR/USD currency pair has broken the uptrend line extending from  Jan 10, 2011.
Also the pair has successfully retested the backside of this broken trend line with obvious bearish reaction.
Also as we notice the pair has broken the short-term trend (Blue) & successfully retested it.

On the 4H chart, The pair is facing the short-term support level 1.4100 which may limit the downside decline for the time.
As we have bearish view for the pair:
The best area to SELL the pair is at 1.4200-1.4250 with TP at 1.4110, 1.4050 then 1.4040.
Direct break of 1.4100 with closure below it opens the way down to 1.4050 then 1.3950.
SL for SHORT positions should be placed above 1.4375.

http://instaforex.com/forex_analysis/33558/?x=OUE  

GBP/JPY candlestick analysis for July 14, 2011

In a 4-hour graph the GBP/JPY currency pair is bouncing off after a sharp decline. The viewpoint at the pair is still bearish as the downtrend remains.
Earlier in a 4-hour graph the GBP/JPY formed a Shooting Star candlestick, indicating downside movement which was later confirmed.
This candlestick combination was formed after the pair failed to break the resistance level at 135.17, which means that the bulls were not able to solidify here and the bears began to increase their influence.
Break of the Fibonacci correction level 23.6 and the upside channel proves this point of view. Successful testing of the support level 131.23 targeted the GBP/JPY to 129.00. Its break allowed the pair to reach the support at 125.00 with further target at 124.00.
However, it should be mentioned that if the pair fixates above the resistance level 129.00, short positions should be closed as it would lead to growth to 130.28.

http://instaforex.com/forex_analysis/33368/?x=OUE

The EUR/USD technical analysis and trading recommendations for July 13, 2011

4-hour timeframe

Overview:
Forex market analysis for July 13 shows that at the moment the currency is still observing a sell signal with target level 1.4310, the target level was reached by the price, however, downside movement remains. The formed sell signal is strong and confirmed, since the Chinkou Span fixated below the price graph and the price is below the Ichimoku cloud. At the moment the first target is 1.3984 – the second support level, however, downside trading should be started below this level. If this level is passed the second target will be the second resistance level at 1.3756. Downside movement remains while the price is above the Kijun-sen (1.4100), if the price fixates above this line it is recommended to cut short positions. The Chinkou Span is below the price graph, which confirms the current sell signal and indicates bearlish sentiment. The Bollinger bands show possible downside movement, the lines are diverging and directed down. The MACD is ascending, which indicates current correction movement, this filter does not allow us to trade up now, but the MACD reverses down it will be a signal to open short positions again.
Trading recommendations:
Currently it is recommended to trade down with target at 1.3756 and further to 1.3984 and 1.3521. Stop Loss should be placed above 1.4100 and stretched down as the Kijun-sen declines. It is recommended to start up trading after the MACD reverses down.
In addition to technical image, one should take into account the fundamental data and the time of their release.
The chart annotation:
Ichimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
 The red line and the histogram with white bars in the indicators window.
http://instaforex.com/forex_analysis/33308/?x=OUE   

EUR/USD Intraday Technical analysis 2011-07-12

After breaking its short-term support in 1.4200 the spot rate has accelerated and is currently testing the lower limit of its medium term bearish channel in 1.3930 suggesting a rebound. However a break of these levels would initiate a bearish trend more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3930 with a 1st objective of 1.4030, then 1.4100. A break in 1.3900 would invalidate this scenario.

http://instaforex.com/forex_analysis/33180/?x=OUE  

GBP/JPY Elliott wave count and Fibonacci levels for July 11, 2011

GBP/JPY has finished corrective subwave B from 128.19 to 130.82 (colored royal blue in the chart) that is part of impulse wave C of long term downtrend (from 132.30) - this one is light green in the chart. Now we have potential impulse wave C developing from 130.82 (colored royal blue). Within this wave there are A, B and C subwaves - colored red. Subwave C from 130.09 is still developing.
Now the targets of the downmove are Fibonacci expansions off 139.93-130.26-135.11, 135.11-129.74-132.30, 132.30-128.19-130.82, 130.82-128.95-130.09, 130.09-129.56-130.03.
Supports:
- 128.93 = contracted objective point (COP), achieved (!)
- 128.64 = super expanded objective point (SXOP)
- 128.28-22 = confluence area of COP and objective point (OP)
- 127.06 = expanded objective point (XOP)
- 126.93 = OP
- 126.71 = OP
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 130.82-128.89 and then 135.11-128.19.
Resistances:
- 129.63 = .618 ret
- 129.85 = .382 ret
- 130.08 = .50 ret
- 130.08 = .382 ret

Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (10-15 pips above the current prices) or into the overbought area (30-40 pips above the current prices).
http://instaforex.com/forex_analysis/33048/?x=OUE  

EUR/JPY Intraday technical & Follow up July 8, 2011

As we Expected Level 115.70 limited further decline of the pair.
Long positions from this level are +90 pips.
It's recommended that some of the trading lot should be closed as the pair can face resistance at the current levels.
Area 116.00 - 116.20 can be a good area to add long positions again.
SL should be advanced to be placed below 115.40.
http://instaforex.com/forex_analysis/32944/?x=OUE  

EUR/USD Intraday technical analysis July 7, 2011

The Daily candlestick closed around 1.4300 without being able to break it.
This level is a previous top (May 19,2011) which acts as a support for the pair.

The price movement is trapped between 61.8% & 50% Fibonatcci Levels.
Bullish action begins to appear manifested in the lower tails of the 4H candlesticks.
Also the Oscillators are showing oversold signals.

Expected Direction:-
Fundamentally, All views are directed towards interest rates news about Euro.
The market is expecting the interest rate to be raised.
Technically, after 2 days of downside moevment from 1.4550 to 1.4300 without being able to break it
with the signals mentioned above, this indicates the end of the current bearish wave.
The expected next bullish wave is targeting 1.4360, 1.4370 then 1.4420.
Recommendations:
Today, it's not recommended to risk high % of your account due to the coming announcement.
As long as the pair is trading above 1.4250 We can take long positions around 1.4300.
TP at 1.4370,14420 then 1.4450.
SL should be 4H closure below 1.4250.

http://instaforex.com/forex_analysis/32870/?x=OUE

GBP/JPY Elliott wave count and Fibonacci levels for July 6, 2011

GBP/JPY is developing corrective subwave B from 128.19 (colored royal blue in the chart) that is part of impulse wave C of long term downtrend (from 132.30) - this one is light green in the chart. Now within this wave B there are A, B and C subwaves of still smaller degree - colored magenta in the chart. Wave C stopped at 130.82, and now we have potential subwave A in to the downtrend. The targets of the downmove are Fibonacci retracements of 128.40-130.82, and expansions off 139.93-130.26-135.11, 135.11-129.74-132.30, 132.30-128.19-130.82.
Supports:
- 129.61 = .50 retracement
- 129.32 = .618 ret
- 128.28 = contracted objective point (COP)
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 135.11-128.19 and expansions off 128.19-130.06-128.40.
Resistances:
- 130.83 = .382 ret
- 131.43 = expanded objective point (XOP

Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (10-15 pips above the current prices) or into the overbought area (45-60 pips above the current prices).
http://instaforex.com/forex_analysis/32712/?x=OUE  

GBP/JPY head and shoulders and Long opportunity July 4 , 2011

As we see , there's apparent rejection of the Fibonacci level 61.8% to be broken.
Now it's expected to see a bullish move to come next.

4H chart , there's a broken bearish channel and successfuly retested.
Also there's a Head & Shoulder pattern with broken neck line targetting 131.30.
Based on the analysis:
There's an opportunity to go long at the live price with TP at 130.60 then 131.20.
SL should be placed below 128.20.

http://instaforex.com/forex_analysis/32536/?x=OUE  

EUR/USD Intraday Technical Level For July 1st / 2011

TODAY  TECHNICAL  LEVEL :

Breakout BUY Level : 1.4542.
Strong Resistance : 1.4534.
Original Resistance : 1.4520.
Inner Sell Area : 1.4506.
Target Inner Area : 1.4472.
Inner Buy Area : 1.4437.
Original Support : 1.4424.
Strong Support : 1.4230.
Breakout SELL Level : 1.4401.

SHORT  DESCRIPTION :

Today the EUR/USD is to find Support and Resistance between 1.4424 and 1.4520 and it has a strong Support at 1.4230 and a strong Resistance at 1.4534; if today the EUR/USD breaks out and closes below 1.4401, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4542, it will be the sign for LONG trading for today. Another option for the advanced trader can be trading between the Inner Buy Level at the 1.4437 for LONG trading and the Inner Sell Level at the 1.4506 for the SHORT trading, and all of them with the target at the 1.4472 level.


http://instaforex.com/forex_analysis/32329/?x=OUE