Weekly review of three pairs | 25 April 2014

EUR/USD

Monthly chart: An ill-defined reaction of April to March pin makes us doubt it has a good outlook. Besides, we see a strong trend activity of ADX, therefore, there is a great probability of attacking 1.4034 with a further movement to a middle-term space to 1.4964. Support by the middle Bollinger band (1.3249) must be pointed out. Any movement down to this point won't break ascending structure.

Weekly chart: the last week was finished by a very narrow inside bar. Support is located at 1.3715, from this point bulls can develop an attack to 1.4034. Decline below 1.3715 makes plan with movement to 1.3249 real.

Day chart: the pair had been under sales within the last 2 weeks, which is seen due to 2 bearish pins coming one after one. Bollinger enevlopes are getting narrow speaking about coming impulse movement. Support 1.3715 also seems confirmed and important from a diagnostic point of view.

Conclusion: so, main plan is growth to 1.4034, following to a possible touch of 1.3715. Another option is the break of 1.3715 and decline to 1.3249.

GBP/USD

Monthly chart: March inside bar is being worked out rather actively with a full support by Bollinger bands and ADX/RSI connection. All these is talking about attack of 1.7051, with a promising target at 1.91.

Weekly chart: here we witness an ideal reversal for divergence and an uptrend is being constructed. In this moment the pair is squeezed between support 1.6527 (middle) and resistance (upper Bollinger band). We buy the pair around 1.6527 either on breaking 1.6848 with the first goal as of 1.7050.

Day chart: here an incomplete bearish plan is seen, thus, the option with roll down to 1.6653 and 1.6527 is promising for purchase. Getting below 1.6527 will in its turn break ascending structure which will lead to continuation of decline in the direction of 1.62.

Conclusion: so, we are looking to attack 1.7050. Within the frames of such attack, there can be a decline with the purpose to accumulate strength. Key support areas are 1.6653 and 1.6527. Another option is the break of support 1.6527 and a local reversal of the pair in the direction of 1.62.

AUD/USD

Monthly chart: a technical rollback to the area of the middle Bollinger band (0.9717) is continued, whereupon the most probable option will be a new wave down with the target at bottom Bollinger band (0.8402). Break of 0.9717 will bring a new reversal and will provide growth to 1.0764 with a new outlook.

Weekly chart: upper Bollinger band was not broken, which leads to decline from current levels. But support 0.9030 can lead to that the area 0.9717 will be worked out.

Day chart: here is a control level – middle Bollinger band (0.9277). If bullish potential is saved, we will see activity of users which will not let the pair get below. Break of 0.9277 level would confirm a start of a new month wave down with the first goal 0.8697.

Conclusion: so, the main option is touch of 0.9277and an impetus to 0.9717. Another option is the break of 0.9277 and decline to 0.87.