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EUR/USD: Technical Analysis

The "bears" didn't manage to breach support 1.3150/40, like it had been previously assumed, so, the sideways movement continued. The trading is currently carried out at 1.3210/20. Indicators are "bearish", thanks to SS, though both R% and MACD suggest further consolidation within the range 1.3310 – 1.3150/40 as a higher possibility. Support 1.3150/40 breakout will most likely initiate new minimums test at 1.2960/70, with a possible stop near support 1.3050/60.  A reversal to the bullish scenario will take place in case resistance 1.3320/30 is breached.



GBP/USD: Technical Analysis

Assumptions about the range trading between 1.5840 – 1.5720/10, mentioned in the previous analysis proved o be true. Having tested level 1.5840/50, the price returned downwards; it currently resides very close to the support of this range, trading at level 1.5730/20. Indicators are turned downwards. Earlier forecast is still relevant  - if the upper border of this range - level 1.5840 - is breached, we'll be expecting critical changes in the market moods to the "bullish". Falldown below 1.5710 will open the way to the new minimums, though levels 1.5650, 1.5590, 1.5530 are going to be rather challenging for the "bears".  For now, further "bearish" trend is considered a higher possibility.



EUR/JPY: Technical Analysis

This pair bounced off resistance-turned-support at 110.50 towards the end of last week and has been rising steadily since. It is approaching the recent highs at the 111.60 mark and it ought to get as far as them, if not slightly higher. This is perhaps an Elliot wave 5 of the move up from the December 7 lows and once finished it should complete the impulse. Right now it looks like it is falling a little, but this is probably only a correction – back to 111.20 perhaps - before a final thrust higher to 111.70 or thereabouts.


Analysis by: Forex4you.com written by Forex4you analyst

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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.

EUR/USD: Technical Analysis

The price didn't make it to support 1.3150/40 and started its growth on trades from level 1.3170. But having failed to breach resistance 1.3320/30 it's pulling back at the moment, so the trading is carried out at levels 1.3200/10. Indicators suggest the "bearish" moods, which makes yesterday's scanario - support level 1.3150/40 test - quite a possibility. This level breakout will reveal the "bearish" potential will- a fast breakout will initiate minimums 1.2960/70 tests in the near future, a failure to breach this barrier will result in a sideways correction. Resistance breakout at 1.3320/30 will trigger a reversal to the "bullish" trend.



GBP/USD: Technical Analysis

Assumptions of a possible surprise factor in the pair - a pullback upwards to the recent local maximums at 1.5820/30 - turned out to be correct. After a rapid ascension and key resistance 1.5850/40 test the price is pulling back downwards and currently resides at 1.5770/80.  The second part of yesterday's scenario seem to be realized and the pair will recommence its decline to support levels 1.5500/1.5470. Nevertheless, to make it happen, the "bears" have to pass a lot of supports and one of them - level1.5780/70 - is being tested at the moment. Indicators give reasons to expect this level to be breached, so the price will descend to the next strong level - 1.5710/1.5690.  The next on the way are supports 1.5650, 1.5590, 1.5530. A signal for the "bullish" possible strength is the same – resistance 1.5840/50 breakout.



EUR/JPY: Technical Analysis

This pair reached highs in the 111.60s yesterday and has since fallen to resistance turned support at the top of the recent range at 110.60 and also the neckline of a sloping inverted H&S at the November 30 lows. It is quite probable that the exchange rate will revisit the 111.60 highs again. From an Elliot pattern perspective this pullback could be the wave 4 before wave 5 up. It might also be the pullback to the neckline of the inverted H&S with a move higher to 114.15 worth watching for.



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.

EUR/USD: Technical Analysis

Assumptions that risistance 1.3410/00 was strong enough to withstand the "bullish" attacks turned out to be correct. The price didn't manage to pass this barrier, so it currently resides at 1.3190/80. Indicators suddently changed their readings in favor of a downward movement, which gives reasons to expect further possible decline. The current fall will probably reach support 1.3150/40, which breakout would indicate the "bearish" potential. If the barrier is easily breached, we'll be expecting new minimums to be tested at 1.2960/70 in the nearest future. A return above 1.3320/30 suggests a reversal to the "bullish" trend.


GBP/USD: Technical Analysis

The price got close to the key resistance 1.5850/40, but then pulled from level 1.5820 and reversed to decline. Having tested level 1.5670/60, the trading is pulling back up and is currently carried on at levels 1.5700/10. Seems like the assumptions of the previous analysis, that a fall below support 1.5710/00 would give reasons to expect a reversal to growth for a medium-term, are starting to be realised. Indicators reversed down, which gives even more reasons to expect this reversal. Support level 1.5650 breakout will be one more signal for that.  It's worth taking into account that support 1.5650/40 is rather strong, which makes a big pullback upwards to the last local maximum 1.5820/30 with further reversal to decline quite a possibility.  Resistance level 1.5840/50 breakout will indicate the "bullish victory".



EUR/JPY: Technical Analysis

This pair rallied up to the top of the range and the monthly pivot at 110.80. It is currently pushing against these resistance highs and indications remain quite bullish. There appears to be a triangle unfolding sideways at these same highs which may be breaking out at the moment and it could thrust up to perhaps 111.55 or thereabouts. There is also a slanting inverted head and shoulders pattern on the 4-hour chart which is breaking its neckline currently and could reach a target of 114.15. However, a move back down to the bottom of the triangle at 110.65 is also possible before any further action.


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.