intraday

Wednesday’s Jan 23rd midday analysis -13.00 GMT

EurUsd has retraced towards the middle point of yesterday’s range after finding resistance at the 1.4670 area, looking at last weeks chart we can see that around the mentioned level the pair formed a consolidation pattern, this indicates the importance of the former support turned into resistance zone. Without any more surprises we expect the pair to resume its down trend especially while we are trading below 1.4600.

GbpUsd failed to stay above 1.9600 and after forming a bearish divergence on the smaller timeframes we already saw a test of the 1.9500 support level, if this is breached we expect to retest yesterday’s low at 1.9330 on the way to the bigger bearish target of 1.9180.

Monday’s Jan 14th midday analysis -13.00 GMT

EurUsd pushed higher and got above 1.4900 so far in today’s trading session and although at the moment is trading just a few points below that it has built up some bullish short term momentum, perhaps enough to make it to the 1.5000 zone in the next few days.

GbpUsd moved also higher, but with little momentum covering only 70 points from the Asian low to the early UK session high. Trading above 1.9600 is hard the pair having some tough resistance to break at 1.9650 which is also a former low from early this year and also is the 50% Fibonacci retracement of the 1.9830/1.9480 down move.

Thursday’s Jan 4th midday analysis -13.00 GMT

Euro traded just above the 1.4700 level for most of today’s session waiting for the NFP release, the par fas traded calmly getting closer and closer to the support level but not managing to break below as the upcoming are important and could change the mid term perspective.

GbpUsd failed to perform as expected, although it briefly got below 1.9700 the 9.30 GMT UK news helped pushed the pair for a new retest of the 1.9800 resistance and now we are trading roughly at the 50. Fib line of today’s 125 pont move; also the upcoming NFP release will have an impact on the pair and will determine the direction for the remainder of the session.

Thursday’s Dec 20th midday analysis -13.00 GMT

EurUsd failling to print a new low in yesterday’s US session gave bulls enough reason to push the pair higher and so it touched the 1.4400 intraday resistance and after that we saw a small retracement towards the 50.0 Fibonacci of yesterday’s trading renage. We may a second attempt at the 1.4400 level in today’s remaining trading hours.

GbpUsd traded inside Thursday’s range, and after it didn’t manage to break a new low we are trading just under the 1.9900 resistance and chances are the pair will head higher in the US session.

Wednesday’s Dec 19th midday analysis -13.00 GMT

EurUsd has entered into the 3rd consecutive tight range day, it covered today only 50 pips with the mention that it broke under the trendline connecting monday and tuesday’s lows and has already retested the trendline now turned into resistance and one could expect a move lower later on in the US session.

GbpUsd broke lower today when the BOE minutes got out, and before that the pair surged higher and tested the 2.0180 intraday resistance. Today’s low at 2.0030 is just pips away from the Fibonacci Expansion target we mentioned a while back and we are looking to get closer to the 2.00 area in the following hours.

Tuesday’s Dec 18th midday analysis -13.00 GMT

EurUsd stayed contained in a 50 pip range not managing to break above the 1.4415 intraday resistance line. The pair has clearly slowed down it’s bearish momentum and it starts to look bullish at least on the shorter timeframes.

GbpUsd formed both today and yesterday two exhaustion pattern on the 1 hour timeframe seen below, and this looks hard to break unless we get some bullish USD news that can push the pair lower. Looking at the chart closest resistance is last weeks low at 2.0180 that has been already tested in the UK session and we expect at least another test of this level in the Us session.

Hello traders, this is intraday technical view- 13.30 GMT

EurUsd found some support in Monday’s US session and it started a retrace towards the 50. Fib Line of the move down. In today’s Asian session we witnessed the pair making the most of today’s move while in the european trading hours, as seen on the 1hr chart below, we saw a retest of a trendline which also coincides with the middle of todays’ range of 113 points. A succesfull break above today’s high hasa projected target of 1.4686 just a few points below the 1.4700 round number.

GbpUsd started to recover some of the loses from the previous days after it found support just above the 2.0500 level; it moved higher all the way through asian and UK session towards the 200 MA (on the 1 hour timeframe) and it looks like its found resistance there. The short term bias is bearish and we expect the pair to move below 2.0700 and trade inside today’s range for the rest of the day.

Hello traders, this is the 12.30 GMT intraday technical view

EurUsd continued to make higher high and higher lows for the most part of Thursday’s session and in today’s trading hours until rumors started about bank losses in Uk that triggered a change of focus towards the US dollar, although the pair lost the points gained previously in the Asian and European trading hours it has found support close to the 61.8 Fib Line of the last move up and from there it started to slowly move higher trying to get back above 1.4700.

GbpUsd failed to reach our projected target of 2.1185 and although it made higher highs and higher lows on the 1hr timeframe, as seen in the chart below, the bulls lost some of their strength. When the Uk bank rumors got out cable lost more than 100 points in a matter of minutes and only stopped just below the 2.1000 support level. At the moment in the market there is increased volatility and we advise caution until the rumors either get confirmed of proved to be just that, rumors.

Hello traders, this is the 13.00 GMT intraday technical view

EurUsd reached it’s projected target in Wednesday’s session calculated using Fibonacci Expansion at 1.4729, after that it lacked enough strength to stay above 1.4700, it retraced to around the 0.50 Fib level and has traded around that level in a 50-60 points range until now. The pair is trying to figure out a direction for the rest of the session but the bullish should prevail, as the market conditions haven’t changed while the ECB decided to hold rates.

GbpUsd traded around the 2.1000 level for most of the Asian and Uk session and only prior to the BOE rate announcement it started to move higher and after another retest of the 2.1000 support level minutes before the announcement it pushed higher and printed a new high at 2.1085. As seen on the chart below,on the 1hr timeframe the pair formed a bullish flag formation that has a target calculated with Fibbonacci Expansion at 2.1185.

EurUsd formed a triangle on the 1hr timeframe on Monday afternoon(see chart below) and it broke out of that triangle with fury in the Asian session, the momentum pushed the pair towards the yearly high at 1.4530. In the most part of the UK session the pair traded just below the high in a small consolidation range and right as we write this intraday commentary EurUsd printed a new record high at 1.4555 and bullish momentum keeps building up.

Cable found support around the 2.0800 area yesterday, and it moved higher in the Asian session until it found resistance at a down sloping trendline. Looking at the 1hr timeframe the pair seems to be forming a triangle as it has already touched the resistance trendline two times and is now slipping lower. Usually this triangle pattern is a continuation pattern and considering the overall bullish sentiment, a breakout above the 2.0880 will be a clear sign that the up trend is still valid.