As shown on the monthly chart below, buyers failed to bottom 3 times in the past, once at 1.5271 (Oct 2011 low), the second one at 1.5233(Jan 2012 low), the last one at 1.5237 (Jun 2012 low) , because of the lack of bullish momentum , the pair extended its weakness beneath those level to get the needed momentum to help the pair rising once again , in other words, the GBPUSD is in extended bullish divergence on the monthly chart, this scenario is bearish in short term view (1-2) years and…Continue
Added by Haitham653 on August 5, 2013 at 1:40pm — No Comments
The GBPUSD maintained a bullish momentum last Friday , topped at 1.5307 levels, now pressure will be on the key resistance 1.5307, the GBPUSD will have to hold above the 1.5307 levels on a daily closing basis to push the market for further upside gains , If seen , it will target the 1.5355 levels where a breach will turn focus on the 1.5477 ahead of 1.5530, at this this point this level 1.5477/1.5530 is likely to contain any upside move and most likely we might see resumption of the whole…Continue
Added by Haitham653 on August 4, 2013 at 1:00pm — No Comments
UBS - "EURUSD BULLISH Yesterday’s sharp sell-off is viewed as a correction to unwind the overextended upside extremes. With the bull trend intact, potential is for the pair to move above 1.3302 to test the key resistance at 1.3417. Support is at 1.3120.
USDJPY NEUTRAL The pair advanced from the strong support at 96.75. This strength is approaching the resistance at 100.02. A closing break above this would trigger further upside.
GBPUSD NEUTRAL With the MACD threatening to cross…
Added by Francesc Riverola on August 2, 2013 at 3:00pm — No Comments
Currently we are at 1.5223 after the reaction to a negative Non Farm Payroll release. We are looking for a bullish continuation to the resistance area @ 1.5381. The pair will have to break above 1.5250 if not that would invalidate this. The average daily true range (ATR) for the pair currently is 128 pips.…Continue
Added by Scott Barkley on August 2, 2013 at 12:55pm — No Comments
EURUSD : As long as the daily close is above 1.3165, the pair is very bullish , strong and sudden rise is suggested, below 13165 would weaken / delay the current bullish run for retesting 1.3065/1.3000 levels, resistance is at 1.3300, a daily close above 1.3300 will open the way towards/beyond 1.3415 levels..
GBPUSD : The cable is under pressure withe further risk to the downside , resistance is 1.5222 ahead of 1.5353 (main) then 1.5412 , next…
Currently we are at 1.5166 after the break south of the expanding wedge. We are looking for a bullish continuation to the R5 / day chart target @ 1.506-5025. We have to break the support cluster in the 1.5160 area first. FOMC later – be careful! The average daily true range (ATR) for the pair currently is 128 pips.…Continue
Added by Scott Barkley on July 31, 2013 at 12:48pm — No Comments
Recommendations: SHORT positions below 1.5250 with 1.5195 & 1.5150 as next targets.
Alternative scenario:The upside breakout of 1.5250 will call for a rebound to 1.5295/355
Description: The pair trades below its resistance at 1.5250, as long as this level holds ,the risk will remain to the downside towards 1.5200 ahead of 1.5150, an hourly close above 1.5250 will reverse risks to the upside towards 1.5300 , above 1.5295 will…
HSBC - "Over the next 10 days the markets will be focusing heavily on the policy meetings of the big four
This week: Fed, BoE, ECB
Next week: BoJ, RBA (We expect 25bp cut), BoE Carney inflation report
For those with a weak constitution look away now, because on top of these policy meetings we have crucial data: US GDP data (important benchmark revisions), ISM, Payrolls
By the end of the week we may have a better understanding of where we stand on the tapering debate. This…
Added by Francesc Riverola on July 30, 2013 at 10:25pm — No Comments
The GBPUSD maintained a bearish momentum yesterday , topped at 1.5412 and bottomed at 1.5327 levels , now pressure will be built on the key support 1.5327 , the GBPUSD will have to break and hold below the 1.5327 levels on a daily closing basis to push the market for further downside losses,If seen , a bearish pressure will be built on the 1.5288 levels, a break will aim the 1.5128 levels ahead of the psychological level 1.5000.
Alternatively , a failure to hold below the 1.5327…
EURUSD is bullish , so as long as 1.3175/1.3255 holds on a daily closing basis, next resistance is around 1.3400 levels, losing 1.3175 on a daily closing basis will open the way towards 1.3082 ahead of 1.30000
GBPUSD is neutral , support is at 1.5327 ahead of 1.5288 , resistance is at 1.5412, a daily close above 1.5412 will open 1.5475/1.5530,while below 1.5288 will open 1.5128.
USDJPY is neutral , strong support is at…
Added by Haitham653 on July 30, 2013 at 5:46am — No Comments
UBS - "EURUSD BULLISH As the bull trend persists, indicated by the trending and momentum indicators pointing higher, focus is on further upside. Key resistance is at 1.3417. Support is at 1.3253 ahead of 1.3166
USDJPY NEUTRAL The sharp sell-off since Thursday faces a strong support at 96.75.A closing break below this would trigger further sell-off. Resistance is at 99.41 ahead of 100.87.
GBPUSD NEUTRAL The pair is testing the critical resistance at 1.5394, since Thursday. A closing…
Added by Francesc Riverola on July 29, 2013 at 1:39pm — No Comments
Recommendations: LONG positions above 1.5355 with 1.5400 & 1.5440 as next targets.
Alternative scenario:The downside breakout of 1.5355 will call for a slide to 1.5300/260.
Description: The pair trades above its support at 1.5355, as long as this level holds , It will move higher towards 1.5400 , ahead of 1.5440 levels, an hourly close below 1.5355 will reverse risks to the downside towards 1.5300/260 levels.…
The GBPUSD rose as suggested last week , topped at 1.5434 levels.On the daily chart , the pair has lost some of the upside momentum after bottoming at 1.5288 levels, since the pair failed to close below 1.5288, it pulled-back towards the key resistance 1.5390 , now pressure will be on the key resistance 1.5390, stability above the 1.5390 levels on a daily closing basis will pave the way towards 1.5465 ahead of 1.5515 levels, above 1.5515 will have large bullish implication towards 1.5750…Continue
Added by Haitham653 on July 29, 2013 at 1:29am — No Comments
Recommendations: LONG positions above 1.5374 with 1.5430 & 1.5470 as next targets.
Alternative scenario:The downside breakout of 1.5374 will call for a slide to 1.5325/280.
Description: The pair's already found support at 1.5374, as long as this level holds , It will move higher towards 1.5430 , ahead of 1.5475 levels, an hourly close below 1.5374 will reverse risks to the downside towards 1.5325/280 levels.…
Goldman Sachs - "EUR/$: Our positive stance on the EUR is due to the stronger BBoP trend for the Euro area. In contrast to the weaker balance for the US, this structural imbalance implies a gradually weaker USD and a stronger EUR. Downside risk remains in the Euro area, with growth remaining weak and the ECB signaling that it expects to keep rates low, with a downward bias, for ‘an extended period’. However in the longer run – and after more ‘muddling through’ – we expect…Continue
Added by Francesc Riverola on July 24, 2013 at 1:55pm — No Comments
(received 8h ago but could not publish it as I was sleeping :)
UBS - "EURUSD BULLISH With the trending and momentum indicators pointing higher, focus is on further upside. Key resistance is at 1.3417. Support is at 1.3134 ahead of 1.3052.
USDJPY BULLISH Any downside will be held by strong support at 98.57, which was held previously on a closing basis. Focus is on resumption of upside, with resistance at 101.53 ahead of the key resistance at…
Added by Francesc Riverola on July 24, 2013 at 1:43pm — No Comments
As shown on the weekly chart below fall from 1.3710 levels was contained well around 1.2750 levels, If we back to the past a little bit , and checked this area, you could notice that we have strong demand zone around 1.2500/1.2700 levels in medium term view. how !!
According to weekly %R Williams, we have 3 bullish divergence(s) around 1.2700 levels, added that 1.2500 is protected by the weekly EMA (30) , Sept 2012 low, and it's a round number..
See how the pair pulled-back…
Brown Brothers Harriman - "Euro: After recovering from $1.2755 on July 9 to $1.3200 on July 11, the single currency has been consolidating. In that consolidation, it has been carving out what appears to be a flag, which is understood as a continuation pattern. However, we are skeptical of the pattern's validity as it is getting too close to the apex. Nevertheless, the relative strength index and the MACDs are constructive and the 5-day average crossed above the 20-day…Continue
Added by Francesc Riverola on July 22, 2013 at 3:03pm — No Comments
After some struggle against the 55-day EMA, GBP/USD ultimately broke that resistance and closed above it. The high of this upward move was 1.5282.
GBP/USD retracements and 55-day EMA
Isn't it interesting that this high where…Continue
The GBPUSD continued to maintain its bullish momentum last week, bottomed at 1.5027 and topped at 1.5281, the weekly close above 1.5221 levels opens the way towards 1.5303 ahead of 1.5475 then 1.5750 levels, a daily close above 1.5303 will advance the pair towards 1.5475 levels.
On the downside, support is 1.5027 followed by 1.4813 levels, note that the weekly close above 1.5221 confirmed bottoming at 1.4813 levels, to reverse risks to the downside, the pair needs to hold below…
Added by Haitham653 on July 21, 2013 at 8:00pm — No Comments