Browsing all articles from May, 2013
May
31

USD/CAD D1 Technical May 31

USD/CAD manage to hold physical level 1.0300 and get a bounce. Now pair is expected to continue its bullish trend and test its resistance at 1.0390 level. If par manage to break 1.0390 level it will then target 1.0420-45 level.

Price action on 1.0445 level should be carefully watch. If USD/CAD get a pull back from this area and D1 closure below 1.0390 level then it will indicate strong bearish strength which will open gate towards south and pair will then target 1.0300-250-200 level respectively.

May
31

GBP/USD D1 Technical May 31

GBP/USD is in bullish trend above 1.5160 level. Price action on 1.5160 level should be carefully watch. If cable manage to hold this level and give a weekly closure above 1.5200 level then it will provide a valid buy entry and target will be 1.5260 level then 1.5300 level respectively.

The scenario will be vanished. If GBP/USD fails to hold its support and D1 closure chart below 1.5160 level will take pair further down towards southward.

May
31

EUR/USD D1 Technical May 31

Yesterday EUR/USD manage to break its resistance 1.3006 level and target +50 pips. But pair didn’t manage to break 1.3070 resistance and got bearish strength and dropped. Now pair is expected to face next support at 1.2950 level.

If EUR/USD manage to break 1.2950 level and give a day closure below this level then EUR is continue its bearish trend and target 1.2880-800 level.

On the other hand, daily closure above 1.3070 level will change the scenario and EUR/USD will then further move upward.

May
31

AUD/USD D1 Technical May 31

AUD/USD didn’t manage to over come 0.9695 level and dropped towards its support 0.9590 level. Currently pair break its support level and Aussies is expected to target its next support at 0.9525 level.

Price action on 0.9525 level should be carefully watch. If pair manage to break that support and give a weekly closure below 0.9525 level then pair will continue its bearish trend and target 0.9350 level.

May
30

GBP/USD D1 Technical May 30

GBP/USD manage to hold 1.5000 level yesterday and target 1.5160 level in early Asian session. Now GBP/USD is expecting to continue its uppish trend and target 1.5200-60 level respectively.

The scenario will be vanished. If cable fails to hold its support 1.5080 level and D1 or H4 candle chart closure below support level. It will then indicate bearish strength and GBP/USD will then continue its trend and target 1.5008-4980 level respectively.

High impact News can affect the pair. News like Prelim GDP q/q, Unemployment Claims, Pending Home Sales m/m. Prelim GDP q/q, Unemployment Claims, Pending Home Sales m/m.

 

May
30

USD/CAD D1 Technical May 30

 

USD/CAD got a strong pull back from 1.0420 level and dropped around 100 pips. As the trend line is also broken. So, pair is expected to face its support at 1.0280 level.

Price action on this level should be carefully handle. If pair manage to break support level and give a day closure below 1.0280 level then pair will get more bearish strength that will take USD/CAD towards 1.0200 level.

But if USD/CAD hold 1.0280 level and manage to break 1.0390 level then  pair will continue its bullish trend and target 1.0445 level.

High imapct Data’s of USD can change the scenario. Data’s like Prelim GDP q/q, Unemployment Claims, Pending Home Sales m/m.

 

May
30

EUR/USD D1 Technical May 30

EUR/USD is in bullish mood today but as long resistance 1.3006 is not broken pair can get a pull back from this zone. So, price action on 1.3006 level should be carefully watch. If pair manage to break its resistance and H4 candle chart closure above this level then EUR/USD will further move upward.

On the other hand. If pair didn’t manage to break through its resistance and get a pull back then it will provide a valid sell entry point with stop loss just located above 1.3006 level and take profit at 1.2880 level.

High impact News can affect the trend of EUR/USD. News like Prelim GDP q/q, Unemployment Claims, Pending Home Sales m/m.

 

May
30

AUD/USD D1 Technical May 30

Aussies get a bounce from its support 0.9527 level  yesterday and now trading near its pivot point 0.9695 level. In Asian session due to positive data of Building Approvals m/m AUD/USD target around 90 pips.

Bollinger bands are not providing clear signals yet. The support is now at 0.9580 and resistance is around 0.9700 level. Price action on both level should be carefully watch.

There can be two scenario. First, If AUD/USD manage to beak 0.9695 level and give a day closure or H4 candle chart above 0.9695 level then it will indicate pair got bullish strength and Aussies will then further move towards northward.

On the contrary, If pair fails to hold its support 0.9580 level and D1 or H4 candle chart closure below this level this will indicate lack of bullish potential and pair will hen continue its bearish trend.

High impact News can affect the movement of AUD/USD. News like Prelim GDP q/q, Unemployment Claims, Pending Home Sales m/m.

 

May
29

USD/CAD D1 Technical May 29

USD/CAD mange to break 1.0390 level yesterday. Now pair will face its weekly resistance at 1.0445 level. W1 is showing group of sellers in this zone.  Bollinger bands are not providing clear signals due to overbought of USD/CAD.

So, it is important to watch price action on 1.0445 level. If pair get pull back from this level and H4 or D1 candle closure below 1.0390 level then it will clearly indicate bearish strength and USD/CAD will then start moving southward and first target will be 1.0300-0280 level respectively.

This scenario will be vanished. If pair manage to overcome its resistance and H4 or D1 candle chart closure above 1.0445 level. It will then indicate USD/CAD still have bullish strength which will take pair further upward.

High impact News of CAD can affect the trend of USD/CAD. News like BOC Rate Statement, Overnight Rate.

May
29

GBP/USD D1 Technical May 29

GBP/USD got more bearish after it fails to overcome 1.5160 level and dropped more then 100 pips. Now the key level is 1.4980. Cable is expected to face this level. Price action on 1.4980 level should be carefully handle.

There can be two scenarios, First if GBP/USD manage to hold 1.4980 level and give a day closure above 1.5080 level then pair will indicate bullish signals and provide a valid buy entry with Sl located just below 1.4980 level.

Secondly, If Cable fails to hold its key level and H4 or D1 closure below 1.4980 level then it will indicate a strong bearish trend. Which will open gates towards southward and take pair further downward.