GOLD Intraday Technical Analysis 2012-05-31

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Gold is currently testing the intermediate resistance of its medium term bearish channel at 1,575 and is about to decline. However, a break through these levels will reveal significant potential enabling to reach its upper limit in 1,610.
Technical indicators do not provide clear signals but as long as resistance is unbroken, the assumption of a decline is relevant. Bollinger bands are much discarded due to the strong decline that took place these days. The situation is expected to stabilize soon.
According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1,575 with the 1st objectives seen at 1,590 and 1,595 levels. In case the level 1,572 is passed through, the proposed scenario will be invalidated.

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GOLD Intraday Technical Analysis 2012-05-30

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At the moment Gold is testing the intermediate support of its medium term bearish channel at 1,538 and is likely to rebound. However, a breakdown of these levels will release significant potential enabling to reach its lower limit in 1,491.
Technical indicators provide sellers signals but as long as support is unbroken, the assumption of a rebound is relevant. Bollinger bands are much discarded as a result of a strong decline these days. The situation is expected to stabilize in the nearest future.
According to previous events the market will provide a bullish opportunity at the level of 1,538 with the 1st targets seen at 1,550 and 1,555 levels. A breakthrough of 1,535 will cancel this scenario.

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GOLD Intraday Technical Analysis 2012-05-29

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Gold is currently testing the intermediate resistance of its medium term bearish channel at 1,583 and seems to initiate a decline. However, a break through these levels will give good potential and the pair will be able to reach the upper limit of this one - 1,614.
Technical indicators do not provide clear signals but until the resistance is not punctured the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.
According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1,583 with the 1st objective at 1,595 and then at 1,598. A break through 1,580 will alter this scenario.

GOLD Intraday Technical Analysis 2012-05-28

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Gold is currently testing the intermediate resistance of its medium term bullish channel at 1,583 and is expected to decline. However, a breakdown of these levels will release significant potential enabling to reach its upper limit in 1,620.
Technical indicators provide buyers signals but as long as the resistance level is unbroken, it is very likely to decline. Bollinger bands are much discarded due to the strong increase that took place these days. The situation is expected to stabilize soon.
According to previous events the market will provide a bullish opportunity as soon as the gold will has broken through its resistance of 1,583 with 1,595 and 1,598 seen as first objectives. A breakthrough 1,580 will invalidate this scenario.

GBP/USD Intraday Technical Analysis for May 25, 2012

Weekly Pivot Point: 1.5715.

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GBP/USD:

• Resistance: 1.6030. (Sell below this level).
• Support: 1.5624. (Buy above this level).
  

Trading Recommendations:

According to previous events, the price is still located between the levels 1.5650 and 1.6030.

• The descending movement will probably take place lower than the 1.6030 level with the first targets at levels 1.5730 and 1.5633.
• BUY-deals are recommended higher than the 1.562 level with targets at levels 1.57 and 1.5889 (Weekly pivot point).

Overview:

It should be noted that the market revealed the signs of instability. The trend movement was controversial as it took place in a narrow sideways channel. Concerning the previous events, the price is still between the levels 1.5650 and 1.6030, so it is recommended to be cautious while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then, the market will probably indicate the signs of a bullish trend. In other words, BUY-deals are recommended higher than the 1.5625 level with its first target at the level of 1.5725. From this point the pair is likely to begin the ascending movement to the point 1.5825 and further to the level 1.5900. However, if the pair fails to pass through the level of 1.6030, the market will indicate a bearish opportunity below the strong resistance level 1.6030. In this regard, SELL-deals are recommended lower than the 1.6030 level with the first target at 1.5730. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.5633.

GOLD Intraday Technical Analysis 2012-05-24

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Gold is currently testing the intermediate resistance of its medium term bearish channel at 1,580 and seems to initiate a decline. However, a break through these levels will release good potential and will be able to reach the upper limit of this one to 1,620.
Technical indicators do not provide clears signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.
According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1,580 with the 1st objective at 1,590 and then at 1,595. A break through 1,577 will invalidate this scenario.

GOLD Intraday Technical Analysis 2012-05-23

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Gold is currently testing the intermediate support of its medium term bearish channel at 1,552 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 1,508.
Technical indicators do not provide clears signals but are approaching the oversell zone supporting the assumption of a rebound. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events the market will provide a bullish opportunity at the level of 1,552 with the 1st objective at 1,565 and then at 1,570. A break through 1,549 will alter this scenario.

GBP/USD Intraday Technical Analysis and Linear Regression Channels for May 22, 2012

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The GBP/USD currency pair witnessed quick decline from 1.6120 towards 1.5730 during last week.

The GBP/USD has Intraday support zone located around 1.5740 - 1.5760 which prevented further decline showing significant bullish price action.
Now the upper limit of the Violet channel was broken to the upside Yesterday while Resistance zone 1.5840-1.5860 is still being tested by the GBP/USD pair which if broken will probably allow the pair to reach the upper limit of the Blue channel and the next Intraday resistance zone at 1.5940-1.5960.
After a bullish price action towards 1.5740, this price level is considered a valid BUY entry with tight SL below 1.5700.


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Breakdown of Price Zone 1.5960-1.5940 lead to quick decline towards 1.5860-1.5840 which was broken too, leading to price zone 1.5740-1.5760.
Price Zone 1.5740 - 1.5760 corresponds to the lower limit of the Yellow & Blue channels and also to the Average Daily Range which was indicative of possible bullish retracement coming after.
The GBP/USD has shown extensive bearish decline last Thursday exceeding the Average Daily range breaking its Intraday Support levels indicating possible bullish retracement too.
There's a possible Head and shoulders being formed with head at 1.5730 which becomes confirmed with bullish closure above neck-line located at 1.5840 to be targeting to the price level of 1.5940.
Breakthrough 1.5840 corresponding to the upper limit of the Yellow & Blue channels will probably allow the GBP/USD to reach higher levels at 1.5885 and 1.5925.

Based on the previous analysis
The market offers a bullish opportunity at price zone 1.5777 with a tight Stop Loss below 1.5720.
TP levels are to be located at 1.5810, 1.5885 and 1.5925

GBP/USD Weekly Technical Levels for May 21 - 25, 2012

Weekly Technical Levels:

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Tip (s):

R3 and S3 are considered as clear indicators of the maximum range for the period of extreme volatility. Nevertheless, it is still possible to break them through.
Pivot lines operate well at sideways markets, as prices are most likely to be located between the R1 and S1 lines.
Within a strong trend the price will be located below the pivot point line and will continue its movement.
In case of the breaking news release that may influence the market, the price may go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.

Observation (s):

• If the trend goes upwards, then the strength of the currency will be defined as follows: GBP is an uptrend and USD is a downtrend.
• Most of the traders use the Fibonacci retracement to determine the accurate psychological support and resistance levels.
  

GBP/USD Intraday Technical Analysis 2012-05-18

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The spot rate is currently testing the intermediate support of its medium term bullish channel at 1.5690 and seems to start a rebound. However, a pass of these levels will release good potential and reach the lower limit of this one to 1,5360.
Technical indicators provide sell-signals but until the support is not broken the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.
According to previous events the market will provide a bullish opportunity at the level of 1.5690 with the 1st objective at 1.5750 and then at 1.5770. A break through 1.5670 will alter this scenario.

GBP/USD Intraday Technical Analysis 2012-05-17

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The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.5860 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 1.5020.
Technical indicators provide sell-signals but until the support is not broken the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short term.
According to previous events the market will provide a bullish opportunity at the level of 1.5860 with the 1st objective at 1.5920 and then at 1.5950. A break through 1.5840 will alter this scenario.

GBP/USD Intraday Technical Analysis and Trade Recommendations for May 16, 2012

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In the beginning of the month,the GBP/USD pair has broken the lower limit of its bullish channel. Since then it has been downtrending within the depicted bearish channel.
Yesterday the GBP/USD pair showed siginificant bearish swing breaking-down the significant support / prominent Intraday buttom around 1.6050 opening the way for a quick decline towards 1.5960-1.5940 which is considered as a strong support zone that determins the next target.
Bullish stabilization above 1.5960-1.5940 enhances the bullish retracement towards 1.6050. However, its breakdown will lead to another decline towards 1.5895 and 1.5860.
Price Level 1.6050 is considered to be valid SELL entry as it corresponds to the upper limit of the ongoing bearish channel & previous broken support level.
SL should be located above 1.6120 while TP levels are to be located at 1.6015, 1.5975 and 1.5930.

GBP/USD Intraday Technical Analysis and Linear Regression Channels for May 15, 2012

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The depicted chart illustrates the current situation of the GBP/USD currency pair on the 4H timeframe.
The GBP/USD pair is currently testing the lower limit of the almost identical bearish channels around 1.6050 which may constitute a suitable price level for bulls to initiate a bullish swing.
Price Zone 1.6040-1.6060 constitutes a strong support zone for the pair which pushed the pair towards 1.6120 Yesterday failing to maintain higher levels.
Price should be maintained above 1.6040-1.6060.Otherwise, a quick decline towards 1.5960 will probably take place.
Price Zone 1.6140-1.6160 is considered a strong resistance level for the GBP/USD pair for those who look for bearish opportunities.


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The Hourly chart gives a similar view for the GBP/USD.
The GBP/USD PAIR has been downtrending within the depicted Blue & Yellow bearish channels for almost three days with bearish breakout below the lower limit of the Violet channel.
The GBP/USD pair is now testing the mid-line of the Yellow & Blue channels around 1.6050 which will determine the next target for the pair.
The GBP/USD pair has an Intraday support level at 1.6000 which corresponds to the lower limit of the bearish Yellow channel and an Intraday resistance level at 1.6090-1.6110 corresponding to the upper limits of its movement channels.

GBP/USD Intraday Technical Analysis and Linear Regression Channels for May 14, 2012

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The depicted chart illustrates the current situation of the GBP/USD currency pair on the 4H timeframe.
The GBP/USD currency pair is currently testing the lower limit of the almost identical bearish channels around 1.6050 which may constitute a suitable price level for bulls to initiate a bullish swing.
Price Zone 1.6040-1.6060 constitutes a strong support zone for the pair which should hold price above. Otherwise, a quick decline towards 1.5960 will probably take place.
Price Level 1.6140 is considered a strong resistance level for the GBP/USD pair for those who look for bearish opportunities.


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The Hourly chart gives a similar view for the GBP/USD.
The GBP/USD has been downtrending within the depicted bearish channels for almost two days. However, today we witnessed a bullish breakout above the upper limit of the violet channel with quite strong bullish price action.
The GBP/USD has an Intraday support level at 1.6040 which corresponds to the lower limit of the bearish Yellow channel and an Intraday resistance level at 1.6095-1.6110 corresponding to the upper limits of its movement channels.
Retesting of the backside of the broken violet channel at 1.6045-1.6055 will be an appropriate BUY entry with TP levels at 1.6080. 1.6100 & 1.6130.
SL should be 4H closure below 1.6030.

GBP/USD Intraday Technical Analysis 2012-05-11

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The spot rate is presently testing the intermediate support of its medium term bearish channel at 1.6090 and is expected to rebound. However, a break through this level will trigger a decline to the lower limit – 1.6050.
Technical indicators do not provide clears signals but until the support is not broken the assumption of a rebound is most likely . Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events the market will provide a bullish opportunity at the level of 1.6090 with1.6150 and 1.6170 considered as first targets. In case the level 1.6070 is passed through, the proposed scenario will be cancelled.

GBP/USD Intraday Technical Analysis 2012-05-10

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The spot rate is approaching the upper limit of its medium term bearish channel at 1.6180 and seems to initiate a decline. However, a break through these levels will release good potential and initiate a violent bullish trend.
Technical indicators provide buy-signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement
According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.6180 with the 1st objective at 1.6240 and then at 1.6260. A break through 1.6160 will invalidate this scenario.

GBP/USD Intraday Technical Analysis and Linear Regression Channels for May 9, 2012

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Having reached the price level 1.6300, the GBP/USD pair has been trading in downside movement within the narrow-ranged bearish violet channel until Monday when we had a bullish breakout.

On Tuesday we mentioned that in order to remain bearish in the nearest future the GBP/USD pair was not to hold above 1.6160, which had been broken yesterday then followed by a failure to stabilize above the mentioned level.
A breakdown of the resistance level 1.6160 opened the way to the point 1.6195 which pushed the GBP/USD pair to the downside again to close below 1.6140-1.6160. However, GBP/USD is still trading above the broken bearish violet channel and within the bullish blue channel which hasn't been broken till now.
It's better to wait for a confirmation to determine the next destination for GBP/USD which will be either a re-closure above 1.6160 or a break through the lower limit of the Blue channel at 1.6115.



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On the hourly chart we can obviously see a significant support level at 1.6100 which corresponds to the lower limit of the Yellow channel.
In order to activate the bullish scenario, the GBP/USD pair should initially break through resistance level at 1.6150 (the intermediate line of the Yellow channel and the upper limit of the violet bearish channel).
Breakdown of support level 1.6100 will probably lead to a quick decline towards 1.6050. However, appearance of bullish price action towards it brings bullish strength into the market targeting at 1.6150 and then at 1.6190.

GBP/USD Intraday Technical Analysis 2012-05-08

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Presently the spot rate is testing the upper limit of its medium term bullish channel at 1.6220 and is likely to decline. However, a breakdown of these levels will reveal significant potential and initiate a violent bullish trend.
Technical indicators provide sellers signals but as long as the resistance remains unbroken, the pair is likely to decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement
According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.6220 with the 1st targets seen at 1.6280 and 1.6300 levels. In case the level1.6200 is passed through, the proposed scenario will be altered.

GBP/USD Intraday Technical Analysis and Linear Regression Channels for May 7, 2012

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Having reached the price level 1.6300 ,the GBP/USD pair has been trading in downside movement within the narrow-ranged bearish violet channel.
In order to remain bearish in the neraest future the GBP/USD pair should not hold above 1.6160.
A breakdown of the resistance level 1.6160 will probably open the way to the point 1.6195 (then 1.6240) before the further resumption of the downside movement.




All of the three Linear Regression Channels for the GBP/USD pair are bearish today indicating bearish tendency of the market.
Having failed to break through the resistance level 1.6230-1.6245, the pair declined towards 1.6150; thus, a lower bottom was compared with the previous one at 1.6185.
After successful breakdown of 1.6150, the pair declined towards 1.6113 which corresponds to the lower limit of the Yellow channel.
It's important to note that the GBP/USD pair has an important resistance level 1.6150 which corresponds to the upper limit of the Violet channel & the intermediate line of both Blue & Yellow channels and another significant resistance level at 1.6175 which corresponds to the upper limit of the Yellow & Blue channels.
Price levels 1.6150 & 1.6175 are considered valid SELL entries with TP levels located at 1.6111, 1.6075 and 1.6025.
SL should be located above 1.6200
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GOLD Intraday Technical Analysis 2012-05-04

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Gold has broken the intermediate support of its medium term bearish channel at 1.644 resulting in acceleration. A pull back on these levels is expected before the gold will reach the lower limit of its channel to 1,620.
Technical indicators provide buyers signals and evolvement in the oversell zone confirms the assumption of a pull back. Bollinger bands are much discarded due to the strong recent decline. The situation is expected to stabilize soon.
According to previous events the market will provide a bearish opportunity at the level 1.644 with 1.634 and 1.630 seen as first tgargets. In case the level 1.647 is passed through, the prospect scenario will be altered.

GBP/USD Intraday Technical Analysis for May 3, 2012

Pivot Point: 1.6190.

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GBP/USD:

• Resistance: 1.6270. (Sell below this level).
• Support: 1.6100. (Buy above this level).
  

Trading Recommendations:

According to previous events, the price is still located between the levels 1.5955 and 1.6290.

• The descending movement will probably take place lower than the 1.6270 level with the first targets at levels 1.617 and 1.61.
• BUY-deals are recommended higher than the 1.61 level with targets at levels 1.6155 and 1.6233.

Overview:

It should be noted that the market revealed the signs of instability. The trend movement was controversial as it took place in a narrow sideways channel. Concerning previous events, the price is still between the levels 1.5955 and 1.629, so it is recommended to be cautious while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then, the market will probably indicate the signs of a bullish trend. In other words, BUY-deals are recommended higher than the 1.61 level with its first target at the level of 1.6155. From this point the pair is likely to begin the ascending movement to the point 1.62 and further to the level 1.6233. However, if the pair fails to pass through the level of 1.6270, the market will indicate a bearish opportunity below the strong resistance level 1.6270. In this regard, SELL-deals are recommended lower than the 1.6270 level with the first target at 1.6170. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.61.

GOLD Intraday Technical Analysis 2012-05-02

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Gold is currently testing the intermediate support of its medium term bearish channel at 1,649 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 1,620.
Technical indicators provide buy-signals and as the support is not broken the assumption of a rebound is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events the market will provide a bullish opportunity at the level of 1,649 with the 1st objective at 1,660 and then at 1,665. A break through 1,646 will alter this scenario.

GOLD Intraday Technical Analysis 2012-05-01

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Gold is currently testing the upper limit of its medium term bearish channel at 1668 and is expected to decline. However, a breakdown these levels will reveal significant potential and initiate a violent bullish trend.
Technical indicators provide sellers signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded due to the strong increase these days. SThe situation is expected to stabilize soon.
According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance level 1668 with 1678 and 1682 seen as targets. In case of 1665 level breakdown the proposed scenario will be cancelled.