GBPUSD GOING DOWN AFTER SOME UP SWING
Thursday, 19 April 2012
GBP/NZD
The NZD keeps stamping against the USD and gives the other currencies the opportunity to rise against it. The pair has created the "Cup & Handle" pattern under 1.96 and if the pair breaks through this resistance and the resistance of the 200 SMA, it might jump to the psychological number of 2.0. However, as we always warn in these kinds of situations, it is dangerous to buy a currency in extreme levels and sometimes it is better to wait for a false-break & reversal rather than taking a chance with deep stop-loss order.
GBP/JPY
The support that the USD got at 80.0 against the JPY was as strong as we estimated and the Yen weakened to 81.2 against the USD. This helped the pound to rise against the Yen and the weekly chart gives an interesting point of view regarding the pair GBP/JPY. The trend is clearly bullish and the arrangement of the candlesticks, as well as the fact that the pair reached 40% Fibonacci levels, indicate that a bullish reversal is about to occur, if the pound crosses above the weekly high at 130.50. A successful break-up of this pick might take the pair above 133.0 again. Another supporting element for the pair is the fact that the 20 EMA is about to cross above the 50 EMA, which means that the prices are increasing.
Daily Analysis - 19.04.2012
GBP/USD
The correction in the stock markets did not help the USD against most of the major currencies that continued strengthening against the American dollar. The pound investors were encouraged by improving economic data regarding the British economy, such as lower unemployment rate and lower unemployment claims.
On the technical aspect, the pound is trying to break through the strong resistance at 1.60, which it has failed to do during the last couple of months. If it succeeds, we might see the pair around the 7-months high at 1.6150. However, if it fails, the seller might take the pound under 1.59 again.
Wednesday, 18 April 2012
Tuesday, 17 April 2012
Monday, 9 April 2012
Thursday, 15 March 2012
Wednesday, 14 March 2012
euro is in your hand
new signal euro expected to 3.100 stop loss 1.2980 take profit :1.3100 GMT TIME : 12:23:57
Tuesday, 13 March 2012
GBP/USD trades around 1.5700 ahead of key UK data
Yesterday, GBP/USD failed to sustain a break of support at 1.5650 and bounced higher to recover all of the previous day's losses. The action resulted in a false break of the mentioned support level and, as a well known principle in technical analysis...The action resulted in a false break of the mentioned support level and, as a well known principle in technical analysis, signals potential for future movements to the upside. "With the Stochastic showing that conditions are oversold, it looks like the bulls are going to take control of the pair again soon," says the BabyPips.com FX-Men Team. During the Asia-Pacific session, GBP/USD traded within range between 1.5673 and 1.5710, last at 1.5685 vs. 1.5701 late Tuesday in NY.
In the European session ahead, risk event for the pound includes key UK jobs data at 0930 GMT. "The key level to monitor for the GBP/USD heading into the release will be the 1.5750 level, as it near the 61.8% retracement and coincides with the 61.8% retracement of the swing downward in the pair seen during Friday and Monday," comments Fan yang, CMT, Cheif Technical Analyst at FXTimes.
The market technician continues: "However, a stronger than expected report, which can help the case that more easing is not necessarily can help the GBP/USD to move above the 1.5750 level (or hold that level if it moves above it prior to the release) and could the mean the pair targets the highs from Friday near 1.5830."
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