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EURUSD Near its Yearly High
Sun, Jul 26 2009, 22:12 GMT
by Mohamed I El Shall
GBPUSD
The sterling against US dollar on med term is in up trend as long as it stays above 1.6310. Since taking out the important price level at 1.6376 on 15th July 2009. But on short term GBPUSD is correcting down after closing below 1.6431, the pair of currency needs to have an hourly close above 1.4682.
Trading Strategy: Buy at 1.6376 with a stop loss at 1.6300 and take profit 1.6478.Resistances: 1.6478/1.6544/1.6600
Supports: 1.6376/1.6310/1.6265
EURUSD
The pair is in up trend on both med and short term as long as it stays above 1.4120. A four hours close below that level will change pair’s direction to down. The fight between supply and demand forces for the pair is clear since it had been bouncing strongly between 1.4119 and 1.4291. A daily close above 1.4291 will bush the pair higher to test current year high at 1.4333.
Trading Strategy: Buy from 1.4199 To 1.4163 with a stop loss at 1.4100 and 1.4250 as target.Resistances: 1.4250/1.4291/1.4333
Supports: 1.4199/1.4163/1.4119
USDJPY
After taking out the important price level at 94.50 on last week USDJPY had confirmed the up trend direction. The pair of currency has to stay above 93.50 in order to maintain its bullish direction. A four hours close below 94.57 would change pair’s directional bias to neutral.
Trading Strategy: Buy from 94.46 with stop loss at 94.24 and take profit at 95.00.Resistances: 95.11/95.60/96.00
Supports: 94.46/93.86/93.51
Published on Sun, Jul 26 2009, 22:12 GMT
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EURUSD finished its 4th IM wave
Wed, Jul 15 2009, 23:27 GMT
by Mohamed I El Shall
From classic technical analysis point of view EURUSD finished its sideways phase by closing outside its highlighted symmetrical triangle by closing above 1.4072. Pair should head north as long as it stays above 1.3910.
From Elliot Waves point of view EURUSD had finished its 4th IM wave and start forming its upward 5th wave. This technical outlook should stay as it is as long as EURUSD stays above 1.3910.
_20090715232921.png "EURUSD 160709 (1)")
We recommend a long trade from 1.4000 with a top loss at 1.3910 targeting 1.4150.
Published on Wed, Jul 15 2009, 23:27 GMT
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GBPUSD Elliot Waves Count
Mon, Jul 13 2009, 23:33 GMT
by Mohamed I El Shall
After GBPUSD breached the very important support level at 1.6200, it had formed a clear impulsive wave. First wave ended at 1.5982, and right now we are correcting up in the second wave targeting price levels from 1.6400 to 1.6560.
We recommend shorting the pair of currency with any reversal sign inside this box.
Supports
1.6200 – 1.6080 – 1.5980
Resistances
1.6427 – 1.6500 – 1.6560
Published on Mon, Jul 13 2009, 23:33 GMT
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EURUSD Found a Good Demand
Mon, Jul 6 2009, 23:45 GMT
by Mohamed I El Shall
Yesterday, the pair of currency had found a good demand forces, at 1.3883 had bounced the pair back up again. We expect the pair to keep on moving higher as long as it stays above this level.
We recommend a buy from 1.3927 with a stop loss at 1.3820 and a target at 1.4050. For the following reasons
- Hammer bullish reversal formation with a low at 1.3883.
- Bullish divergence formed on the price bottoms and OsMA.
- Overbought on Stochastic indicator on four hours time frame.
Supports
1.3927 – 1.3883 – 1.3824
Resistances1.4011 – 1.4065 – 1.4124
Published on Mon, Jul 6 2009, 23:45 GMT
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Bounce or Break. This is The Question?
Mon, Jul 6 2009, 03:38 GMT
by Mohamed I El Shall
GBPUSD has to answer this question on the next coming hours. As it is approaching its important support level at 1.6200 while you read this article. We kept on mentioning this important price level many times on our daily and weekly review.
We recommend a long position from 1.6200 with a stop loss at 1.6050 and our target will be at 1.6565. For following reasons.
- 1.6200 is a very strong price level since it had supported the pair of currency and pushed it up several time last month.
- Bullish divergence on OSMA.
- The pair had signaled an overbought signs on stochastic indicator.
Illustrations are on below chart.
Published on Mon, Jul 6 2009, 03:38 GMT
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Technical Over View
Tue, Jun 30 2009, 00:31 GMT
by Mohamed I El Shall
GBPUSD
The pair of currency is heading now up to its upper side boundary for the non trending rectangle at 1.6621. The break of this level will open the way for GBPUSD to see its important resistance level at 1.6755. But on the other hands we can see a bearish divergence on the four hours time frame, which might be the reason for the pair of currency to go down again testing the pivot support at 1.6200. For today we need to see either a close above 1.6621 or a close 1.6427 so we may enter a short trade with a stop loss at 1.6621 and a take profit target at 1.6200. Important levels are on the chart.
For EURUSD as we mentioned on our current week technical outlook the pair is heading north targeting 1.4266 then 1.4338 as long as it stays above 1.3888. For today we will buy EURUSD from 1.4011 with a top loss at 1.3888. Important levels are on the chart.
CHF against US dollar still on neutral phase as long as it stays inside its trading range from 1.0985 till 1.0631. The pair of currency need to close outside these boundaries so we can trade on breakout direction. Important levels are on the chart.
USDJPY went up yesterday. We think it will test its important resistance level at 96.57 before going down again targeting its important support level at 95.03. we will short the pair of currency from 96.57 with a stop loss at 97.18 targeting 95.03Important levels are on the chart.
Published on Tue, Jun 30 2009, 00:31 GMT
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Weekly Technical Over View
Sun, Jun 28 2009, 23:30 GMT
by Mohamed I El Shall
GBPUSD
Since the beginning of this month, the pair had bottomed at 1.5802. The price level at which GBPUSD had found a strong demand succeeded to push the pair up strongly till it reached our current trading range top at 1.6621. Since then the pair of currency had lost demand momentum, as it shows on the chart by moving inside the highlighted rectangle with a top at 1.6621 and its bottom is at 1.6200. GBPUSD needs to close either ways. For this week we will stand a side till the pair breaks either up or down.
The pair of currency had moved down since the start of the month of June. But now after last week break of its latest down top at 1.4011. The pair had changed it directional bias from bearish to bullish. EURUSD has to keep on trading above 1.3824 in order to maintain it bullish technical outlook. For the current week we will buy the pair with a stop loss at 1.3800.
USDCHF entered into non directional phase after the demand forces had succeeded to stop USDCHF from going further down to lower than 1.0589 (June Low). We need to see a daily close above 1.0985 or below 1.0631 in order to decide up on our next trades’ direction.
The Japanese yen is showing a very strong demand against US dollar since the beginning of June. And the pair of currency technical weekly outlook would stay the same for the current week as long as it stays below 96.57. We will try to sell pair’s rallies with a stop loss at 97.00.
Published on Sun, Jun 28 2009, 23:30 GMT
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Technical Over View
Mon, Jun 22 2009, 23:06 GMT
by Mohamed I El Shall
GBPUSD
The pair is still moving inside its neutral boundaries. It needs to close above 1.6620 or below 1.6188 in order to determine its future direction. In such circumstances we need to stand a side for a clearer technical outlook for the pair of currency. Important levels are on the chart.
The pre - mentioned short term up correction move had ended by the close under 1.3870 latest up bottom for the move. Today’s technical outlook for EURUSD is down as long as it says below 1.4000. We will try short the pair from 1.3931 with a stop loss at 1.4000 .Important levels are on the chart.
USDCHF
USDCHF is on non directional phase as long as it trades below 1.0923 and above 1.0760. For today we will stand a side till we have a clearer technical outlook .Important levels are on the chart.
USDJPY
USDJPY needs to close below 95.50 and stays below 97.18 (Latest down top high) in order to confirm its bearish bias. Today we will wait for this close to happen. Important levels are on the chart.
Published on Mon, Jun 22 2009, 23:06 GMT
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Technical Over View
Fri, Jun 19 2009, 00:17 GMT
by Mohamed I El Shall
GBPUSD
The pair is facing a strong demand forces 1.6240 appears to be very powerful since it caped the price for the third time from breaking through that level. Yesterday’s mentioned bullish divergence still intact as you may see on below chart. We still need to see four hours close outside pre–mentioned boundaries at 1.6240 and 1.6499 so we can look for a trade setup in a clearer technical out look for the pair of currency. Important levels are on the chart.
Yesterday’s technical outlook stays as is since EURUSD was not able to break above 1.4177 or below 1.3756. But on a shorter time frame the pair of currency is developing a corrective up move which needs to stay above 1.3806 in order to continue. Today’s technical outlook for the EURUSD is to stand aside for trading range break. Important levels are on the chart.
USDCHF technical outlook will be the same since we still moving inside its trading range between 1.0955 and 1.0647. And since it is the mirror for EURUSD the pair is developing bearish short term down trend which should be intact as long as USDCHF stays below 1.0923. For today we need to stand aside till we can find a better condition for trading. Important levels are on the chart.
USDJPY had corrected upward but it is still below 96.78. Depending on this we still hold on our bearish technical out look for the Japanese yen in front of US dollar but with a bet careful for today as we need more confirmation from the market, and this confirmation would be by first staying below 96.78 and second by breaking below 95.50. we will stand aside for today. Important levels are on the chart.
Published on Fri, Jun 19 2009, 00:17 GMT
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Technical Over View
Wed, Jun 17 2009, 22:41 GMT
by Mohamed I El Shall
GBPUSD
For the third consecutive time
GBPUSD could not break below pre-mentioned support level at 1.6240. On the attached
chart you can see the marked descending triangle and its lower boundary at
1.6240. And with the highlighted bullish divergence we can say that there is a
higher probability for the pair to break up than down. We have to wait for the
pair to close either below 1.6240 or above 1.6499 in order to look for entry. Important
levels are on the chart.
Unlike our pre mentioned
expectations on yesterday’s report. EURUSD had closed above 1.3931 (Pair’s
latest lower daily swing top) which was the reason for the pair to go on its
neutral phase. Right now we need to see four hours close above 1.4177 or below
1.3756 so we can start to look for entry. Important levels are on the chart.
USDCHF had mirrored EURUSD by closing below its latest upper bottom at 1.0820. The sentiment for the pair will be sideways till it closes above 1.0955 or below 1.0647. We need for a close either above or under USDCHF sideways boundaries. Important levels are on the chart.
USDJPY is trending down as long as it stays below 96.78. A four hours close above this level would change USDJPY direction. Today we will short the pair from 96.06 with a stop loss at 96.78. Important levels are on the chart.
Published on Wed, Jun 17 2009, 22:41 GMT
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Technical Over View
Wed, Jun 17 2009, 00:09 GMT
by Mohamed I El Shall
GBPUSD
Yesterday GBPUSD had found a
strong demand force at mentioned critical support at 1.6240, but it bounced
from pre-mentioned resistance level at 1.6472. The pair might be in the process
of forming down head and shoulders as long as it stays below 1.6472. For today
we need to wait for the pair to show a clearer sentiment. Important levels are
on the chart.
On yesterday’s report our
expectations for EURUSD was to go south. The Pair had been faced with selling
pressure at one of our mentioned resistance levels at 1.3919. For today we
expect the pair to go further down as long as it stays below 1.4143, we will
try shorting EURUSD rallies. Important levels are on the chart.
USDCHF is in up trend
direction as long as it stays above 1.0642. We will buy the pair from 1.0800 or
1.0742 with a stop loss at 1.0642. Important levels are on the chart.
USDJPY
The pair confirmed its down trend by breaking below our mentioned neutral phase lower boundary at 97.08. USDJPY yesterday retested this level again as a resistance. Today we will short the pair from 97.08, 97.54, or 98.00 with a stop loss at 98.55. Important levels are on the chart.
Published on Wed, Jun 17 2009, 00:09 GMT
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Daily FX Anlysis
Tue, Jun 16 2009, 00:24 GMT
by Mohamed I El Shall
GBPUSD
GBPUSD failed yesterday to close
below 1.6240. So we still need to wait the pair to close below this critical
level to announce direction change from up to down. But on the other hands
GBPUSD closed yesterday below bearish engulfing pattern formed last week on its
daily chart. A four hours close above reversal pattern high at 1.6621 will
confirm the continuation of pair’s previous up direction. We need to wait for a
four hour close above 1.6621 or below 1.6240. Important levels are on the
chart.
The pair will be heading
south after yesterday’s close below 1.3804 as long as it stays below 1.4177. We
will try shorting EURUSD’s rallies from 1.3856, 1.3919, or 1.3981 with a stop
loss at 1.4177. Important levels are on the chart.
USDCHF
As we mentioned yesterday, on our weekly technical out look. That USDCHF had been trying to establish a moderate bullish bias. And by yesterday’s close above 1.0857 the out look has been confirmed. We will buy on depth from 1.0857, 1.0809, or 1.0743 with a stop loss at 1.0647. Important levels are on the chart.
Since the end of last week the pair entered on its neutral phase. The pair needs to break above 98.55 or below 97.07 in order to determine its future direction. We recommend standing a side till it breaks the neutral phase boundaries. Important levels are on the chart.
Published on Tue, Jun 16 2009, 00:24 GMT
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Weekly Technical Over View
Sun, Jun 14 2009, 22:24 GMT
by Mohamed I El Shall
GBPUSD
The pair is trying to find a direction. GBPUSD Still bullish for us on the daily time frame as long as it stays above the key support level at 1.6240. But on its weekly chart the pair has a very clear bearish divergence a long with a very strong weekly bearish engulfing pattern as shown on below chart. We need to see a daily close above 1.6663 (a very strong resistance level the pair had been trying to break since the beginning of current month) or below last week low 1.5802 in order to establish a stronger bias for the pair.
Trading Strategy:
We will stand aside till the pair breaks above 1.6663 or below 1.5802.
EURUSD
Since the end of last month till to date EURUSD is inside a trading box with an upper boundary at 1.4338 and a lower boundary at 1.3792. EURUSD need to have a daily close above or under any one of them. But as you may see on below chart EURUSD had formed a bearish divergence on its weekly chart which should increase the probability for the pair to head south other than breaking the trading box upper boundary at 1.4338.
Trading Strategy:
We will stand aside till the pair breaks above 1.4338 or below 1.3792.
USDCHF
USDCHF is establishing a moderate bullish bias on its weekly chart by forming a bullish divergence, a weekly bullish engulfing pattern, and it failed to make a lower low than 1.0368. We will try carefully to buy the pair with a stop loss below 1.0589.
Trading Strategy:
We will buy on depth with a stop loss at 1.0500.
USDJPY
USDJPY is on up direction since the end of May. We will hold on this direction as long as USDJPY stays above 97.07. A daily close above 98.55 will opens the way for the pair to a higher levels.
Trading Strategy:
We will buy on depth with a stop loss at 96.50.
Published on Sun, Jun 14 2009, 22:24 GMT
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Daily FX Anlysis
Fri, Jun 12 2009, 01:46 GMT
by Mohamed I El Shall
GBPUSD
GBPUSD had closed above 1.6472 to
confirm north bias, the bullish outlook should remain as it is as long as price
stays above 1.5240. A four hours close below 1.6240 will change GBPUSD
direction to down. We recommend buying the pair from 1.6472, or 1.6323 with a
stop loss at 1.6240. Important levels are on the chart.
As we mentioned on our
yesterday's outlook for EURUSD. The pair still on a neutral phase it has to
close above 1.4143 or below 1.3914. But with a closer look on EURUSD four hours
chart we can see a bearish divergence which will increase bearish odds (i.e.
there is a bigger probability for the pair to close below 1.3914). A four hours
close below or above neutral phase boundaries will determine future pair’s
direction. We recommend standing a side till it breaks any of these two levels.
Important levels are on the chart.
The pair is in a neutral
phase it has to close above 1.0858 or below 1.0588. on the other hand the pair
had formed a bullish divergence which will increase the probability for the
pair to go up. A four hours close below or above neutral phase boundaries will
determine future pair’s direction. We recommend standing a side till it breaks
any of these two levels. Important levels are on the chart.
Yesterday USDJPY had failed to make a higher top greater than 98.17, and this is became the reason for the pair to enter on its neutral phase. The pair needs to break above 98.17 or below 97.07 in order to determine its future direction. We recommend standing a side till it breaks any of these two levels. Important levels are on the chart.
Published on Fri, Jun 12 2009, 01:46 GMT
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Daily FX Anlysis
Wed, Jun 10 2009, 22:52 GMT
by Mohamed I El Shall
GBPUSD
The pair is loosing momentum on
its up trend after forming yesterday’s daily candle where body percentage is
less than 50% of total daily range. A four hours close below yesterday’s low at
1.6240 will change GBPUSD direction to neutral on the other hand a four hours
close above 1.6472 will confirm the continuation of the preceding up trend. We
recommend standing aside for GBPUSD. Important levels are on the chart.
The pair is on a neutral phase it has to close above 1.4143 or below 1.3804. A four hours close below or above neutral phase boundaries will determine future pair’s direction. We recommend standing a side till it breaks any of these two levels. Important levels are on the chart.
USDCHF
The pair is in a neutral phase it has to close above 1.0985 or below 1.0590. A four hours close below or above neutral phase boundaries will determine future pair’s direction. We recommend standing a side till it breaks any of these two levels. Important levels are on the chart.
USDJPY
The pair is in up trend as long as it stays above 97.07. A four hours close below that level will change pair’s direction to down. We recommend buying USDJPY from 97.91, 97.54, or 97.23 with a stop loss at 97.07. Important levels are on the chart.
Published on Wed, Jun 10 2009, 22:52 GMT
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Daily FX Anlysis
Tue, Jun 9 2009, 23:15 GMT
by Mohamed I El Shall
GBPUSD
The pair is in up trend as long as it stays above 1.5778. A four hours close below that level will change pair’s direction to down. We recommend buying GBPUSD from 1.6240, 1.6080, or 1.5944 with a stop loss at 1.5778. Important levels are on the chart.
The pair is in up trend as long as it stays above 1.3792. A four hours close below that level will change pair’s direction to down. We recommend buying EURUSD from 1.4011, 1.3920, or 1.3806 with a stop loss at 1.3792. Important levels are on the chart.
The pair is in a neutral
phase it has to close above 1.0985 or below 1.0590. A four hours close below or
above neutral phase boundaries will determine future pair’s direction. We
recommend standing a side till it breaks any of these two levels. Important
levels are on the chart.
The pair is in up trend as long as it stays above 96.51. A four hours close below that level will change pair’s direction to down. We recommend buying USDJPY from 97.15, or 96.69 with a stop loss at 96.51. Important levels are on the chart.
Published on Tue, Jun 9 2009, 23:15 GMT
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Daily FX Anlysis
Mon, Jun 8 2009, 21:01 GMT
by Mohamed I El Shall
GBPUSD
Analysis : Up, as long as it stays above 1.5770
Support : 1.5946/1.5770/1.5518
Resistance : 1.6233/1.6431/1.6660
EURUSD
Analysis : Up, as long as it stays above 1.3791
Support : 1.3859/1.3791/1.3727
Resistance : 1.3984/1.4050/1.4100
USDCHFAnalysis : Neutral, it has to break above 1.9055 or below 1.0641
Support : 1.0861/1.0808/1.0743
Resistance : 1.0973/1.1060/1.1125
USDJPY
Analysis : Up, as long as it stays above 95.86
Support : 97.94/97.25/96.69
Resistance : 98.90/99.40/100.00Published on Mon, Jun 8 2009, 21:01 GMT
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Technical Over View
Wed, May 13 2009, 14:41 GMT
by Mohamed I El Shall
GBPUSD
GBPUSD on last week reached a very strong resistance level at 1.4750 at the end of last weeks trading days, and formed a hanging man candle stick reversal pattern. For this week the pair needs to have a daily close above this level to confirm the up trend. On the other hand, any daily close below 1.4396 would shift our bias to down.
Trading Strategy:
We will stand aside till the pair breaks above 1.4750 or below 1.4396.
EURUSD
Since the break of the strong support level at 1.3088 on the first half of this month. EURUSD have been moving down, till it had found a good support level at 61% Fib. Level for previous up move from 1.2455 till 1.3737 at 1.2884. And since then it bounced back up. For this week EURUSD needs to close above 1.3391 (latest swing high) to confirm its up trend.
Trading Strategy:
We will buy on depth with a stop loss at 1.2800.
USDCHF
The pair on last week failed to break below the ascending channel, which the pair had moving in it since 19th March 2009. For this week we expect USDCHF will break this channel down targeting the support area between 1.1302 to 1.1239.
Trading Strategy:
We will sell rallies with a stop loss at 1.1637.
USDJPY
USDJPY is technically in a down trend as long as it stays below 98.42. But on the other hand the pair had reached a very important price level at the end of last week trading days (96.63) the pair should break this level on current week for further declines.
Trading Strategy:
We will sell rallies with a stop loss at 99.00.
Published on Wed, May 13 2009, 14:41 GMT
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Fri, Nov 20 2009, 15:15 GMT
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Forex Analysis on Majors - Euro. Price Range Is Getting Narrow by Forex Ltd
Fri, Nov 20 2009, 13:21 GMT
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