Technical Analysis of the Currency Pairs 03/06/2013

EUR/USD
Forex on EUR/USD are still moving in a corrective leg of the last decline from 1.3240. The upside movement still looks as a correction but a price movement above 1.3127 will turn the medium term bias to bullish. Until this level holds further downside wave could be seen. The price moved above its 50 day moving average which is sign that some positive momentum could be expected. The last decline should be limited below 1.3242 and bring another fall. On the downside, a clear break and daily close below 1.2918 will confirm the bearish bias and would lead the price to 1.2746. A price movement below the last will resume whole decline from 1.3710.

 

GBP/USD
The British pound extended the medium term correction and currently the pair is hovering around 1.5260. First intraday resistance could be projected at 1.5275 and a clear move above it would lead the price to the next resistance at 1.5320. The last level should limit the upside move and bring fall resumption. Relative Strength Index is in overbought zone which is sign that some decline could be seen soon. On the downside, a break below 1.5109 will turn bias to bearish and lead the price to the major resistance at 1.5007. A price movement below it will target a test on 1.4830 support.

 

USD/JPY
The pair continues to move in a consolidation pattern of the medium term rise from 91.51. Further waves on upside are expected but only a clear break above 102.74 could resume the bullish momentum. The current correction should be limited by the psychological 100 mark. A price movement through it could bring a deeper decline to the next support at 97.00. The value of Forex on USD/JPY still moves above its 50-day moving average while the RSI is between oversold and overbought zones.

 

USD/RUB
The trend of Forex on USD/RUB remains bullish for the moment. The price broke above the resent high at 31.90 and confirmed the positive momentum. Further rise could be seen with first intraday resistance at 32.45. A price movement above it would lead the price to the psychological 33 mark. On the downside, first support is at 31.52 followed by 31.25. Crucial for the medium term bullish trend is 30.90. Some pull-back could be seen as the daily Relative Strength Index is in overbought zone.

 

Disclaimer:The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Technical Analysis Of The Currency Pairs 27/05/2013

EUR/USD
The single currency remained almost unchanged on Friday after volatile session, closing the weekly session at levels of 1.2927. Currently the pair is moving slightly up, but expectations remain rather neutral, which is confirmed by the Relative strength Index (RSI), located in the middle of the scale. On the upside, strong resistance is located at 1.3000 levels. A possible decline would bring the pair to retest the 1.2820 levels of support.

GBP/USD
The British pound recorded increase during the trading on Friday, closing the week at levels of 1.5119. The rise of the currency is continuing and today, as the pair is currently located at the levels of first resistance at 1.5150. If there is a breakthrough this level, the uptrend of the GBP/USD from 1.5010 will be confirmed. On the down side, any downturn would turn expectations to negative and the pair will head back to the support at 1.5010.

USD/JPY
The Japanese yen continued its climb at the end of the week, closing the session on Friday at levels of 101.25 after volatile session. On today’s session USD/JPY is moving downwards and broke the first support level at 101.00. For now, bias remains negative and further decline of the pair would lead it to test the 100.00 levels. On the upside, if there is an increase, the pair will head back to 102.00 levels.

USD/RUB
The pair registered volatile session on Friday closing the week with decline at levels of 31.12. Today the pair is moving slightly higher with first resistance expected at 31.41. Any decline would bring the pair down to the levels of first support at 31.00. On the bigger picture, the bias remains neutral, as the pair is moving in a range of 30.00-31.00.

Disclaimer:
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Technical analysis of the currency pairs 13/05/2013

EUR/USD
The bearish momentum is in action and a clear break of the major support at 1.2950 would confirm the negative outlook. On Friday, the Forex on EUR/USD moved below that level but after that sharply reversed above it. Today trading in situated around that zone and a price movement below 1.2950 would lead the price to the next support at 1.2900. Corrective patter from 1.2746 is possibly finished and new deeper decline could be seen in the near future. A breakout of the lowest level of the year will resume whole decline from 1.3710. On upside first resistance is at 1.3030 followed by 1.3167. The Relative Strength Index is in oversold zone and cross of the 30 level could be taken as a signal for short term positive move.

GBP/USD
Intraday bias is changed to bearish after the breakout of the zone at 1.5366. Medium term trend also is turned back to the downside and some deeper decline could be seen. First intraday support is at 1.5311 and a price movement below it would unlock new potentials and would lead the value of Forex on GBP/USD to the next support at 1.5243. The correction of the general decline from 1.6378 is already completed and the target now is set at 1.5196. A movement below it will confirm bearish case and should target retest on 1.4830 support next. First intraday resistance on upside could projected at 1.5416. The RSI is in the oversold zone which suggest the same small upside move is possible.

USD/JPY
The Forex on USD/JPY topped new high at 102.14 earlier in the day and confirmed the bullish scenario. Intraday trend remains on upside and further rise is expected. The first target above the current top could be projected at 102.62. In case of price movement above it next target would be set at the 161% projection of 77.13 to 96.70 at 104.65. On downside immediate support is at 100.80 followed by 100.54. A break and daily close below the last will turn the bias to neutral and will bring consolidation. A pull back could be seen soon as the RSI is deep in the overbought zone which is also sign that the trend needs new fresh breath.

USD/RUB
The trend still remains neutral for the moment as the price of Forex on USD/RUB continues to move in the tight range between 30.90 and 31.42 levels. The price needs a clear break beyond one of these levels to set medium term direction. In case of a break below 30.90 level medium turn bias will be changed to bearish. On upside, a price movement above 31.39 would lead the price to the top at 31.79. A clear break and daily close above it is needed to confirm the medium term bullish trend.

Disclaimer:
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Technical analysis of the currency pairs 06/05/2013

EUR/USD
Forex on EUR/USD are still in a neutral trend with first intraday support at 1.3030 and first intraday resistance at 1.3135. Until the major support at 1.2954 holds, corrective movement from 1.2746 will be in favor. Above the major resistance at corrective pattern would be extended to the next resistance at 1.3315. However, a clear break and daily close below 1.2954 will indicate that correction is completed and new target will be set at 1.2746. Also, such development will leave rebound from 1.2746 in three wave corrective structure and has some bearish implications. The price is still moving above its 50-day moving average which is sign for a continuation of the short term bias.

GBP/USD
Short term bias of Forex on GBP/USD remains neutral for now with first support at 1.5477 and first resistance at 1.5603. A price movement above the top at 1.5603 will bring another rally towards 1.5788. In medium term outlook the positive movement from the beginning of March is still treating as a rebound of the decline from 1.6380 to 1.4830. A clear break below 1.5477 would turn bias back to the downside with next support at 1.5196. A price movement below the last will indicate that corrective leg is over and turn outlook bearish. The MACD on four-hour chart gives a sign for “put”.

USD/JPY
The bias remains slightly bullish with first resistance at 99.50 followed by 99.94. A clear price movement above the pick of the year would unlock new potentials for further growth. First resistance above the psychological 100 mark could be projected at 101.40 followed by the 161.8% projection of 77.13 to 96.70 at 104.65. On downside, in case of break below 97.95, new fall could be seen. In that case, downside should be contained by 95.74 and bring rebound. forex traders are waiting the RSI to cross the overbought zone from upside to give sign for “put”.

USD/RUB
The Forex on USD/RUB are still moving in large range between 30.75 and 31.80 levels. The price needs a clear break and daily close above the top to continue bullish medium term momentum. First resistance towards this level is at 31.37. On downside first intraday support is at 30.90 followed by the major 30.75. In case of price movement below that last medium term bias will turn bearish and deeper decline could be seen. Technical indicators don’t give signs.

Disclaimer:
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Technical analysis of the currency pairs 19/04/2013

EUR/USD
The euro posted a corrective move of its decline from Wednesday which is still in action. The corrective pattern could be limited around 1.3100 mark, but a clear break there would change the outlook again to positive. The first resistance above 1.31 could be projected around 1.3135 followed by 1.3200. On downside first support is at the psychological 1.30 level. A price movement below it would trigger new wave on downside towards 1.2965. The price of Forex on EUR/USD is trying to set direction and it moves around its daily 50 moving average.

GBP/USD
The currency pair is moving in a choppy range this week. The Forex on GBP/USD are available around 1.5330 and first resistance for the day could be projected around 1.5342. A clear break above it would extend the positive move to the next resistance at 1.5375. The Relative Strength Index on one hour chart is in the overbought zone and cross below the 70 level could be taken as sign of reversal. On downside first support is at 1.5215 followed by 1.5180.

USD/JPY
The dollar started again to gain positions against the yen as the currency pair moved above it resistance level at 98.50. Currently the binary traders are making trades around 99.20, and expect that further rise could be seen. The target is at sentiment zone 100 and if we see movement through this level way for new high will be cleared. Good place to “call” the pair is at the first intraday support at 98.55. Traders are also looking at the hourly chart where RSI is in overbought zone.

USD/RUB
The forex traders are making “call” orders on USD/RUB as the pair continued the positive trend after a deep correction. Currently trading is situated around 31.45 but new wave on upside is expecting. First resistance is at 31.74 followed by 32.12. A price movement above the first would confirm the bullish trend. On downside first intraday support is at 31.37. Technical indicators don’t’ give signs for the near term.

Disclaimer:
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Technical analysis of the currency pairs 17/04/2013

EUR/USD

The Euro extended the bullish trend against the dollar with a new monthly high at 1.3181. The Forex on EUR/USD rebounded from the 1.3026 level and added more than 1.17 percent on Tuesday. The bullish momentum could continue towards 1.3262 and a clear break above it would lead the trading around 1.33 mark. On downside first support could be projected at 1.3135 followed by 1.3040. Only a price movement below psychological 1.30 level would return bears on the market for new eave on downside.

GBP/USD

The price of Forex on GBP/USD is still moving in range with slightly bullish sentiments. In case of break above the resistance at 1.5360, the positive trend will be extended towards 1.5410. A price movement above the last would clear way to 1.55 marks. Trading is situated above the daily 50 moving range which is also another sign for further positive movement. On downside first support could be projected at 1.5270 followed by 1.5240.

USD/JPY

The correction in the currency pair is still in action with a new low level at 95.84. Some of investors took their profits from last week and this triggered the downside wave. Currently the trading is situated around 97.63 with first resistance on upside at 98.28. A movement through this level would change the bias again to bullish and new test of the sentiment zone around 100 could be expected. On downside first support is at 96.40 and a break there would lead the Forex on USD/JPY to the next support at 95.75 which is crucial for the rise from 92.55.

USD/RUB

The pair is still seeking for a direction after the deep fall in the past week. The price of Forex on USD/RUB is around 31.38 with first resistance at 31.50 and first support at 31.00. A daily close above 31.50 could be taken as a signal for further rise while a daily close below 31 mark could defiantly suggest that the positive trend from the beginning of February is already over. Technical indicators also don’t give a clear signal for the future direction of the currency pair.

Disclaimer:

The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument. 

Technical analysis of the currency pairs 15/04/2013

EUR/USD
The positive trend from the past week could be reversed today if the price of Forex on EUR/USD breaks below 1.3040 level. A price movement below that level would confirm the head and shoulders formation on the one-hour chart. The target of the reversal formation could be projected at 1.2965. The price already moved below its 50 Moving Average while the RSI indicator is below the overbought and oversold zones. The first support below 1.30 level could be projected around 1.2990 mark which is the 38.2 level of the Fibonacci Projection of the uptrend from 1.2743.

GBP/USD
The British pound resumed the neutral trading after the pair broke below 1.5360. Some further decline could be seen with first major support at 1.5240. A clear break and daily close below that level would return negative momentum from the beginning of the year. On four-hour chart the price is still above its 50 MA and a rebound from it, is possible. On upside first resistance is at 1.5360 and price movement trough this level would return upside trading again.

USD/JPY
The Forex on USD/JPY reversed positive trend from the past two weeks. This downside movement still looks like a corrective pattern of the rise from 92.55. The bearish move could be limited by the support at 97.19 but in case of a break below it next support could be projected at 95.75. The RSI gives a signal for “buy” as the indicator crossed its 30 level. The 50 period moving average gives a signal for downside trend. On upside first resistance could be set at 98.28 but only clear price movement above 99.00 mark would return bullish outlook.

USD/RUB
The rubble started the session with a loss against the dollar and currently is available around 31.34. The bias is neutral as the Forex on USD/RUB are seeking for short term direction. On upside first resistance could be projected at 31.50. The Relative Strength Index is overbought zone and cross below 70 level would give sign for downside move. First intraday support is at 31.00 followed by 30.75

Disclaimer:
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Technical analysis of currency pairs 03/04/2013

EUR/USD

Forex on EUR/USD dropped below 1.28 marks as the pair rebounded from 1.2877 on Tuesday. Trading continues to move in range and clear break of one of the borders could set direction in medium term. Upside border of the range is at 1.2905 while the downside is at 1.2750. Break of the resistance level at 1.2905 would extend corrective pattern towards 1.3045. On downside break below the lowest level of the year 1.2750 would resume bearish trend for further decline towards 1.2660. On one hour chart price of Forex on EUR/USD already crossed below its 50 MA which is sign for downtrend. Relative Strength Index is close to the oversold zone but doesn’t give any sign.

GBP/USD

British currency declined against the dollar on Tuesday and hit its lowest price since two weeks. Forex fell more than 150 pips from its top at 1.5257. Currently trading is situated around 1.51 after the price hit low at 1.5074. The last level could be taken as a first support on downside and clear break below it would lead the price towards next intraday support at 1.5025. The level is key point and price movement below it would return medium term negative momentum. On upside first resistance could be projected at 1.5135 followed by 1.5175. Relative Strength Index on one hour chart crossed 30 levels from downside which could be taken as a sing of corrective reversal of the negative trend from yesterday. The price is moving below its 50 MA.

USD/JPY

Negative trend seem to be reversed after yesterday’s rally of Forex on USD/JPY. Currency pair reversed above 93 marks and today is available around 93.5. Further rise could be seen only if the price breaks above its top at 93.68 which could be set as a first resistance for the day. Above it next target could be projected at 93.95. Price is moving above 50 MA while the RSI index is between overbold and oversold zone. On down side first intraday support is at 92.53 and price movement below it would trigger test of the 92 zone

USD/RUB

Forex on USD/RUB continue to climb with new highest level of the year. Earlier in the day, currency pair topped new intraday high at 31.4635 after clear break of the previous high at 31.1650. Next resistance for the positive movement could be set at 31.8386. Price is moving above its 50 MA while RSI on four-hour chart is in overbought zone, and cross below 70 levels would be taken as a sign of reversal. First intraday support could be projected at 31.1650 followed by 30.9600.

Disclaimer:

The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument

A Brief Look At Dow Jones 21/03/2013

The Dow Jones rallied today and posted a new high for the current week. Forex on the blue-chip index increased by 55.91 points or 0.39% and closed the day at 14511.73. Investors traded higher on the Down and it hit a fresh intraday high for the eighth time this month at 14546.82. This year Forex on the Dow Jones have risen 11 percent so far. On Wednesday, the American major index was led by Coca-Cola and American Express which added respectively 1.37% and 1.34%. Both companies were followed by Disney with 1.12% on yesterday’s session.

Investors’ decisions were formed after the Federal Reserve minutes and press conference of chairman Ben Bernanke. The Central bank indicated that it will leave interest rates unchanged at a record low level and will continue buying $85 billion in debt each month until unemployment falls to 6.5%. The Fed also expects inflation to rise to 2.5% and the economy to grow by 2.3% and 2.8% this year. Forecasts are slightly lower compared with estimates in December. On the other hand, investors still have concerns over the bailout plan for Cyprus. Global markets expected the final decision of the island country. The crisis in the country came after it rejected approval for tax on deposits in banks. Parliament in Cyprus voted with 36 of its members against the strict measure. Finance minister Michael Sarris is in Moscow for talks with Russia, and speculations that Putin’s country could support Cyprus are rising.

On the economic front today are Unemployment Claims which are scheduled for 12:30 London time. Economists expect the number of individuals who filed for unemployment insurance for the first time during the past week to rise to 11 000. The number for the previous week was 332K. An hour-and-a-half after that would be announced the annualized number of residential buildings that were sold during the previous month, excluding new construction. Existing Home Sales are staying at 5.02M while the previous value was 4.92M. The Philly Fed Manufacturing Index also could trigger some movement as the economic event is expected at 14:00 GMT.

The technical outlook on Forex on the Dow Jones is strong and bullish. Range trading from this week is a correction of the general positive trend and a clear break above the new all-time-high could trigger a further rise. In the short term first support could be projected at 143 305 followed by 14 267. A break below the last could extend neutral trading towards 14 123. Only a price movement below the 13 745 mark could be taken as a sign of reversal of the positive trend. On the upside first intraday resistance is higher yesterday at 14546.82.

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument. 

A Brief Look at IBEX 35 20/03/2013

Forex on Spanish IBEX 35 are trading higher on Wednesday reversing the bearish trend from the beginning of the week. The index returned above 8400 points and currently is trading around 8466.20 gained 1.72% or 159.50 points. This is the first positive day for the European stocks in four days, as policy makers weighed bailout options for Cyprus.
Euro also is gaining today after a rebound from the bottom of yesterday. The European currency added 56 pips or 0.42% against the dollar posting the first positive day for the currency this week. After the announcement in Saturday, the single currency opened 140 pips down against the dollar and returned again below the 1.30 mark. Of course this affects bad on the all markets in Europe respectively on the Spanish major index.
Cyprus concerns stopped the positive impulse of the Spanish index as from the end of the previous month IBEX 35 posted new highs every week. Today investors are expecting that Russia will support the island country and fears of eventual collapse of it bank system, wouldn’t continue. Finance minister, Michel Sarris is in Moscow to discuss eventual conditions for a loan from Russia.
Technically speaking, the decline from this week is still corrective in its nature and only break below the major support at 8260 could change investors’ sentiment. Until this level holds bulls will stay stronger than bears on the market and further rises would be expected. Break below 8260 would extend the fall towards psychological 8000 level and would return negative trend from January. On upside price of Forex on IBEX 35 needs clear break above 8615 to confirm the bullish trend. First intraday resistance towards this target is 8515 followed by 8550. Price movement through the highest level of month would clear the way to the top of the year at 8752.

Disclaimer:
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument