GBP/USD intraday technical levels and trading recommendations for April 24, 2014

Show full picture Show full picture On April 15, the bulls were concentrated around 1.6666. They provided significant support on the last pull-back resulting in a bullish reversal Hammer daily candlestick. Shortly after, a consolidation zone was established between 1.6767-1.6830. The bulls couldn’t show enough follow up around 1.6850. Instead, a sideway movement is taking place. The GBP/USD pair looks bearish on the short-term prospective. Breakdown of 1.6767 opens the way towards 1.6700 and 1.6660. On the other hand, price zone of 1.6830-1.6850 should be considered for selling as long as the bulls can’t achieve the daily closure above it. Mohamed Samy is taking part in the “Analyst of the Year” award organized by MT5.com portal. If you like his article, please vote for him. Performed by Mohamed Samy, Analytical expertInstaForex…

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On April 15, the bulls were concentrated around 1.6666. They provided significant support on the last pull-back resulting in a bullish reversal Hammer daily candlestick.

Shortly after, a consolidation zone was established between 1.6767-1.6830. The bulls couldn’t show enough follow up around 1.6850. Instead, a sideway movement is taking place.

The GBP/USD pair looks bearish on the short-term prospective. Breakdown of 1.6767 opens the way towards 1.6700 and 1.6660.

On the other hand, price zone of 1.6830-1.6850 should be considered for selling as long as the bulls can’t achieve the daily closure above it.

The material has been provided by InstaForex Company – www.instaforex.com

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GBP/USD intraday technical levels and trading recommendations for April 24, 2014

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EUR/AUD intraday technical levels and trading recommendations for February 24, 2014

Show full picture Since January 24, the EUR/AUD pair has been moving to the downside within the depicted bearish channel. On February 13, the bulls expressed a bullish breakout above the upper limit indicating weakness of the ongoing bearish momentum. Simultaneously, the bulls established an inverted Head and Shoulders pattern off 1.5000. The neckline is roughly located at 1.5265. Confirmation of bullish reversal is evident with Four-Hour fixation above price level of 1.5265. Projection target of this confirmed pattern is located at 1.5525 as long as neckline remains defended by the bulls (our stop loss level). On the other hand, consolidation below 1.5265 threatens our bullish view hindering further bullish progression allowing a sideway movement to take place between 1.5265 and 1.5080. Mohamed Samy is taking part in the “Analyst of the Year” award…

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Since January 24, the EUR/AUD pair has been moving to the downside within the depicted bearish channel.

On February 13, the bulls expressed a bullish breakout above the upper limit indicating weakness of the ongoing bearish momentum.

Simultaneously, the bulls established an inverted Head and Shoulders pattern off 1.5000. The neckline is roughly located at 1.5265.

Confirmation of bullish reversal is evident with Four-Hour fixation above price level of 1.5265.

Projection target of this confirmed pattern is located at 1.5525 as long as neckline remains defended by the bulls (our stop loss level).

On the other hand, consolidation below 1.5265 threatens our bullish view hindering further bullish progression allowing a sideway movement to take place between 1.5265 and 1.5080.

The material has been provided by InstaForex Company – www.instaforex.com

For more info: EUR/AUD intraday technical levels and trading recommendations for February 24, 2014

Forex analysis review

EUR/AUD intraday technical levels and trading recommendations for February 24, 2014

The post EUR/AUD intraday technical levels and trading recommendations for February 24, 2014 appeared first on FX FOREX.

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