Technical analysis for EUR/USD, GBP/USD

EUR/USD Open 1.2532 High 1.2675 Low 1.2458 Close 1.2561 Yesterday Euro/Dollar climbed to the top 1.2675, from where it started descending, and closed at 1.2561. This morning the currency couple continued its decreasing to 1.2458, which may be a sign of renewal of the downwards trend of the EUR/USD. On the 1 hour chart the Euro broke down out of the symmetrical triangle, which indicates a descending scenario. Currently signals are downwards. Immediate support is 1.2410. Break below this level may cause further descending towards 1.2300. First resistance is yesterday's top 1.2675. The CCI indicator crossed down the 100 line of the 1 hour chart, suggesting potential downwards pressure.
Technical resistance levels: 1.2675 1.2800 1.2910
Technical support levels: 1.2410 1.2300 1.2190

Trading range: 1.2510 - 1.2445
Trend: Downward
Sell at 1.2499 SL 1.2529 TP 1.2459
 
Have a look to the levels
Resistance 3: 1.4380
Resistance 2: 1.4300/10
Resistance 1: 1.4250
Latest New York: 1.4069
Support 1: 1.4020/30
Support 2: 1.3950
Support 3: 1.3900
 
EURUSD:
* Range 1,3260/80 resistance

For short-term sells on condition of formation of topping signals the targets will be 1,3200/20, 1,3140/60, 1,3080/1,3100 and/or further breakout variant up to 1,3020/40, 1,2960/80, 1,2900/20.

An alternative for buyers will be above 1.3340 with targets 1,3380/1,3400, 1,3460/80, 1,3520/40.
 
the gu will be long time bearish looking at daily and weekly chart. if gu cross down below 1.6032 looking further down to 1.5962 if crossing down this level we can see further down to 1.5288 i think.
 
Guys, where do we say GBP/USD now going seeing that the resistence levels of 1.5950 have been broken twice today. ??????????

Any comments would be much appreciated!

Thanks
 
do you mean support levels? H(ead) and S(houlder) targets 1.52... Weekly looks like significant top formed so LONGER term test of lows (1.35) and maybe MORE...

this is LONGER term stuff.. if you are a day trader then this is not for YOU!
DAILY view
cable+daily.png (image)

Weekly view...but from June 17..now we are going lower in what may be wave 5
cable+week.png (image)
 
do you mean support levels? H(ead) and S(houlder) targets 1.52... Weekly looks like significant top formed so LONGER term test of lows (1.35) and maybe MORE...

this is LONGER term stuff.. if you are a day trader then this is not for YOU!
DAILY view
cable+daily.png (image)

Weekly view...but from June 17..now we are going lower in what may be wave 5
cable+week.png (image)

are you saying that you think it'll fall to as low as 1.35 over the long run (potentially)????

To be honest, i do normally day trade, however, im definately looking to have a longer term view on cable as there is much talk about the pound falling by large levels.

Even a fall to 1.52 would result in significant profits from current level.

Whats the difference between what i said and support levels????

Appreciate all the help i can get, thanks alot!
 
are you saying that you think it'll fall to as low as 1.35 over the long run (potentially)????

To be honest, i do normally day trade, however, im definately looking to have a longer term view on cable as there is much talk about the pound falling by large levels.

Even a fall to 1.52 would result in significant profits from current level.

Whats the difference between what i said and support levels????

Appreciate all the help i can get, thanks alot!

yes if we are in a wave 5 down...(elliot waves) then longer term should approach that level..OBVIOUSLY not in a straight line...at 1.52/1.55 I would probably cover half and wait for rebound to sell more...however my view can change all depends on price action!

Am also looking for euro to top out soon...
 
i hear alot about price action. Have read a bit into it as well but finding it quite naive to be honest.

Maybe im just not understanding it. From what i do understand, certain price levels have to be hit before we see the movement we want, hoever, how and when do we exactly know what the resistence/support prices are beofre the favourable rise/fall??? Some help on price action wud really be appreciated as always.

Also, im placing a limit to sell from 1.5919 (currently at 1.5952). Any thoughts???

Thanks in advance!
 
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