EURUSD - trading recommendation. Technical analysis (H4)

EURUSD - H4 chart

The rate is still in the consolidation phase. As it's reached important resistance zone (1.3135 - 1.3155) coming hours will determine the further movement direction. The bullish mood looks pretty strong now, so breaking above the resistance (1.3155) is very likely. After that it should move to 1.3195 and 1.3235 later. If it fails, the triple top formation will be confirmed. It will force the rate to strong decline towards 1.3055.

EURUSD - H4 chart

Trade recommendation
Buy after closing above 1.3155 Target levels: T1: 1.3195 T2: 1.3235 Sell after closing below 1.3095 Target levels: T1: 1.3055 T2: - Current resistance levels 1.3155 1.3195 1.3235 Current support levels 1.3095 1.3055 1.3025

GOLD - trading recommendation. Technical analysis (Weekly, Daily, H4)

GOLD - Weekly chart

Gold arrived at 1630 support level. Long term uptrend line and major support at 1600 are also very close. Upward bounce in the comming weeks looks very likely.

GOLD - Weekly chart

GOLD - Daily chart

The rate is moving in the downtrend channel. After hitting support at 1619 it bounced up and stopped at 1645.

GOLD - Daily chart

GOLD - H4 chart

After strong decline last week the rate bounced up. It was stopped on the short term downtrend line and consolidated in the 1636.85 - 1645.00 zone. If it break the resistance at 1645.00 and the downtrend line it should start its movement up to 1660.00 level. 

Another scenario will take place if the rate breaks the support at 1636.85 and short term uptrend line. Then we could expect decline to 1630 and 1617.75 further.

GOLD - H4 chart

Trade recommendation
Buy after closing above 1645.00 Target levels: T1: 1654.00 T2: 1660.00 Sell after closing below 1636.85 Target levels: T1: 1630.00 T2: 1617.75 Current support levels 1636.85 1630.00 1617.75 Current resistance levels 1645.00 1654.00 1660.00

EURUSD - trading recommendation. Technical analysis (Daily, H4)

EURUSD - Daily chart

Strong decline within last three days has brought the rate to 1.3025 - 1.3055 support zone. Combined with oversold sentiment it can lead to upward correction. 

EURUSD - Daily chart

EURUSD - H4 chart

EURUSD was stopped at 1.3055 line. If it remains over this level  we can expect consolidation in 1.3055 - 1.3085 zone. Breaking over this consolidation will give the green light to 1.3135 line. 

EURUSD - H4 chart

Trade recommendation
Buy after closing above 1.3085 Target levels: T1: 1.3135 T2: - Sell after closing below - Target levels: T1: - T2: - Current support levels 1.3055 1.3025 1.3000 Current resistance levels 1.3085 1.3135 -

GBPUSD - trading recommendation. Technical analysis (H4)

GBPUSD - H4 chart

The rate hit the support level at 1.5865 and the minor uptrend line. It seems that the most probable scenario for upcoming hours is breaking over 1.5900 and upward movement towards 1.5950.

But if the rate closes below 1.5865, open short trade with 1.5830 and 1.5805 as targets.

GBPUSD - H4 chart

Trade recommendation: Buy after closing above 1.5900 Take profit level: Target : 1.5950 Sell after closing below 1.5865 Take profit level: Target 1 : 1.5830 Target 2 : 1.5805

AUDUSD - trading recommendation. Technical analysis (Weekly, Daily, H4)

AUDUSD - Weekly chart

Last week the rate crossed down the support line at 1.0350, as well as the short-term uptrend line. This week opening made a big rising gap, but from that time the rate was gradually falling. The nearest support is around 1.0350. Breaking it down will open the way for further decline.

AUDUSD - Weekly chart

AUDUSD - Daily chart

Since the end of February the AUDUSD has been moving in the downward trend. It stoped in the support zone around 1.0350, and touched the higher order upward trend line. Large decline since the beginning of this week has almost close the formed gap. Further movement toward support at 1.0345 seems to be most likely. Breaking this support and the nearby uptrend line will give the signal for further decline.

AUDUSD - Daily chart

AUDUSD - H4 chart

The rate moves in a downward channel. After reaching the 1.0335 support it bounced up and was stopped at 1.0445 resistance line. If the AUDUSD breaks down the short-term uptrend line (plotted during the upward correction) it will move towards 1.0335. Breaking this support would open the way towards 1.0275 and then to 1.0210. There some upward rebound is very possilbe.

If the rate turned to be so weak that it remains above 1.0335 some consolidation within the downward channel should be expected.

AUDUSD - H4 chart

Trade recommendation: Sell after closing below 1.0335 Take profit level: Target 1 : 1.0275 Target 2 : 1.0210

EURUSD - trading recommendation. Technical analysis (Weekly, Daily, H4)

EURUSD - Weekly chart

In the last 3 weeks the rate was growing up after a strong decline last month. It reached the downtrend line and was blocked at the level of 1.3345, which corresponds to the middle of a large bearish candle formed few weeks ago. Further upward movement is now blocked by the downtrend line and resistance at 1.3450. The nearest support is at the uptrend line and level of 1.3115.

EURUSD - Weekly chart

EURUSD - Daily chart

The rate maintained its course between the broken downtrend line (dashed line) and the newly plotted trend line (solid line).
It did not manage to brake over the current consolidation. Last candle was bullish, but a long upper shadow and lack of  breaking above the consolidation is not inviting for opening the long trades. Furthermore stronger upward movement is also blocked by the higher time-frame downtrend line and strong resistance around 1.3450 (weekly chart). The closest resistance is at 1.3355 and support at 1.3275.

EURUSD - Daily chart

EURUSD - H4 chart

The rate is consolidated in the range of 1.3275 - 1.3360.
Recently, a few candles with long upper and lower shadows have been formed. Rate bounced down from the upper consolidation limit, but stronger decrease was stopped at the moment.

If the rate will break the downtrend line it should fall to 1.3275. It is the closest support. Breaking it down will give the signal to the fall  to the level of 1.3245 and further to 1.3215. In the 1.3175-1.3215 zone we should expect some upward correction - here comes the support zone and the uptrend trend line of the higher time frame. In the upcoming week I expect breaking down and movement towards 1.3215 level.
Alternatively, if the rate remains bullish enough to break over the 1.3385 you should consider buying with the 1.3425 as the target.

Trade recommendation: Sell after closing below 1.3275 Take profit level: Target : 1.3215 Buy after closing above 1.3385 Take profit level: Target : 1.3425

EURUSD - trading recommendation

EURUSD rate reached the 1.29750 support, which has stopped the decline and led to bouncig up. The closest resistance to this movement is 1.3035. This level in conjunction with the downtrend line should stop further growth. However, if it is broken the next resistance is 1.3075. In the near future I expect consolidation in the 1.2975 - 1.3035 zone. Currently the rate seems to be too weak for some further upward movement. I expect it will sustain the bearish mood. The signal for further declines is breaking below 1.2950, and the next goal for this movement is 1.2905.

EURUSD - Daily chart

EURUSD - H4 chart

Trade recommendation: Sell after closing below 1.2950 Take profit levels: Target : 1.2905

EURUSD - trading recommendation

EURUSD rebounded from support at 1.2650. The rising mood should be sustained in the coming weeks.

EURUSD  - Weekly chart

Breaking  the downtrend line and 1.2890 resistance opened the way toward 1.3085. However, if  the rate drops again below 1.2890 we should expect a consolidation in the range of 1.2650 - 1.2890.

EURUSD  - Daily chart

After reaching the 1.2975-2995 resistance area EURUSD drops sharply stopping at the 1.2885-1.2905 support zone. Then it moved upward and stopped at 1.2950. Breaking up this level should open the way towards 1.2995 and 1.3075 further.

But if the rate breaks down the uptrend line and support of 1.2885 I would expect a further fall till 1.2835 and then 1.2800.

EURUSD  - H4 chart

Trade recommendation: Buy after closing above 1.2950  Take profit levels: Target 1: 1.2995 Target 2: 1.3075 Sell after closing below 1.2885 Take profit levels: Target 1: 1.2835 Target 2: 1.2800

EURUSD - trading recommendation

EURUSD rate is currently in the weekly support zone. Arriving at this zone forced the rate to bounce up. I predict some further growing in the nearest future.

EURUSD Weekly chart

At the lower time frame we can see that the rate reached the resistance level at 1.28015. I expect breaking up. Closing above this zone shall open the way up to 1.28900 target level. If the rate remains below 1.28015 we should expect some downward movement towards 1.27200.

EURUSD  H4 chart

Trade recommendation: Buy after closing above 1.28015 Target level: 1.28900

USDJPY trading recommendation - updated

Since mid-July 2011 USDJPY is consolidating in the area of 75.50-78.25. After arriving near the upper boundary line and downtrend line it bounced down. The decline was stopped around 76.60 in the middle of a large bull candle formed on October 30th.

USDJPY - Weekly chart

After reaching the 76.60 support line USDJPY bounced up.  It reached 77.20 level which resulted in a downward correction.

USDJPY - Daily chart

The rate crossed over the downtrend line. Recent strong upward breakout should result in further growth. The nearest resistance is at 77.20. The support line is 76.85. If the exchange rate will remain above the new uptrend line and 76.85 support , I predict breakout above 77.20 resistance. Then a correction is possible, but the rate should not fall below 77.20. Target level for this movement is 77.60.

USDJPY - H4 chart

Trade recommendation: Buy after closing above 77.20 Take profit level: Target : 77.60

Click here to see my latest technical analysis charts for USDJPY

AUDUSD is going to raise - technical analysis and trade recommendation

AUDUSD exchange rate crossed over downtrend line on December 30th. Then it reached the resistance level at 1.0365 and then bounced down. The downward movement was stopped at 1.0200 support level and now we should expect the upward rebound.

AUDUSD hit support level - daily chart

 At the 4-hour chart the lower shadow candle was formed. This suggest that the further faling potential is depleted. Recommended trade is buying after breaking the short-term downtrend line and closing above 1.0265 resistance. Target level is 1.0335. If the rate remains under 1.0265 we should expect consolidation in 1.0200-1.0265 zone.

AUDUSD downtrend line is going to be break  - H4 chart

Trade recommendation: Buy after closing above 1.0265 Take profit level: Target : 1.0335

USDJPY is going up 05.01.2012 - technical analysis and trade recommendation

Last week USDJPY bounced down after reaching the downtrend line. Downward movement was stopped in the area of 76.85. It corresponds to the middle of the big bullish candle formed on October 30. This area was support before, so it seems that now this level is a great place to react and move up.

Rate hit the major support - USDJPY weekly chart

Yesterday on the daily chart small bullish candle with long shadows was formed. It suggested that the downward movement dynamic was depleting.

After hitting the support bullish formation is formed - USDJPY daily chart

Today brought us a dynamic breakout from consolidation in 76.60 – 76.83 area. This currency rate crossed over the downtrend line which was forming since 28’th December . 

The rate has reached the 77.15 area.  I expect some correction now, but decrease should not be deeper than 76.95. Suggested transaction is a buying position after closing above 77.15 with the target of 77.50.

Crossing over downtrend line - USDJPY 4-hours chart

Trade recommendation: Buy after closing above 77.15 Take profit level: Target : 77.50