ANNOUNCEMENT

FROM TODAY I WILL BE DOING END OF DAY REVIEW OF MARKET. WILL ANALYSE MARKET BEHAVIOR AND MY ANALYSIS.
IN TECHNICAL STUDY ADDITION OF FIBONACCI RETRACEMENT  WILL BE ADDED.
I WILL ALSO ADD FUNDAMENTAL ANALYSIS TO MY DAILY REPORT.

DAILY FOREX ANALYSIS 7/23/2013

PAIR: GBPUSD

TECHNICAL STUDIES: Daily Pivot Points, Moving Averages(5,10,15,50,100,200), Bollinger Bands, RSI.

Daily Pivot Points: PP 1.5362. Open 1.5365. It opened today just above pivot point, so I am neutral from pivot point.
Moving Averages (5,10,20): SMA5 1.5315, SMA10 1.5223, SMA15 1.5140. Moving averages are below price, and are moving in upward direction SMA5&SMA10 have crossed middle band. SMA5 is untested for last 3 days.
Moving Averages(50,100,200): SMA50 1.5288, SMA100 1.5273, SMA200 1.5573. SMA50&100 are below price and are providing support, SMA200 is resistance.
Bollinger Bands:  Bollinger Bands are expanding, upper band in upward direction and lower band in lower direction. middle band is still straight. Price is above middle band so it is bullish.
RSI: RSI is 57 and its bullish.
Bias: My bias is technically Bullish as price is supported by SMA5,10,15,50,100, and middle bollinger band.
Risk:  Yesterday it did not move much, remained between PP & R1. And opened just at PP. So is it losing bullish momentum? I have to see today.
Trade Plan:
Bullish above: 1.5400
Bearish below:1.5334
CONTACT: newtraders01@gmail.com

DAILY FOREX ANALYSIS 7/23/2013

PAIR: GBPUSD

TECHNICAL STUDIES: Daily Pivot Points, Moving Averages (5,10,15,50,100,200), Bollinger Bands, RSI.

Daily Pivot Points: PP 1.5333, R1 15.409, S1 1.5283. price opened above pivot point so it is bullish today. 

Moving Averages: SMA5 1.5281, SMA10 1.5195, SMA15 1.5132 are rising and providing support. SMA50 1.5285, SMA100 1.5289 are below price providing support. SMA200 1.5577 is resistant point. 

Bollinger Bands:  Price is above middle band so it is bullish. 

RSI: RSI reading is 56 in bullish zone.

BIAS: Today my bias is bullish.

Risk: Technically i don't see any risk today. SMA200 can provide strong resistance but we might not test it today.

Trade Plan:

Buy above 1.5409

sell below 1.5283
CONTACT: newtraders01@gmail.com

DEAILY FOREX ANALYSIS 7/22/2013

PAIR: GBPUSD
Technical Studies: Daily Pivot Points, Moving Averages, Bollinger Bands, RSI,
Daily Pivot Point: PP 1.5244, Open 1.5268, above pivot so bullish start.
Moving Averages: SMA5 1.5223, SMA10 1.5137,SMA15 1.5113. SMA's are moving in upward direction. SMA10 has 4 days laging. SMA5 has golden crossover with SMA10, SMA15 and SMA20. SMA's are bullish.
Bollinger Bands: Bollinger Bands are contracting, uper, middle and lower all are in straight direction. Bollinger Bands are neutral
RSI: RSI reading 52, so RSI is bullish.
Overall bias: Bullish.
Risks: SMA 50,100 can provide resistance.
Trade Plan:
Bullish above:1.5293
Bearish below:1.5208
CONTACT: newtraders01@gmail.com

DAILY FOREX ANALYSIS 7/19/2013

PAIR: GBPUSD

Technical Studies: Daily Pivot Point,Moving Averages,Bollinger Bands,RSI

Daily Pivot Point: Price opened above pivot point.

Moving Averages: SMA5 1.5173, SMA10 1.5097 ,SMA15 1.5104, all SMA's are below price and are moving in upward direction.

Bollinger Bands: price is above middle band, bollinger bands are contracting.

RSI: RSI is at 50.

Bias: My bias is developing bullish, but still their is downward risk.

Trade Plan.

Bulllish above: 1.5253

Bearish below:1.5167

CONTACT: newtraders01@gmail.com

DAILY FOREX ANALYSIS 7/18/2013

Pair: GBPUSD

Technical studies: Daily Pivot Point, Moving Averages, Bollinger Bands, RSI.

Daily Pivot Points: Cable opened above pivot point.

Moving Averages: SMA 5,10&15 are below price and moving in straight direction. SMA5 1.5153, SMA10 1.5105, SMA15 1.5066.

Bollinger Bands: Price is above middle band. Lower band is moving upward, while upper and middle are downward. Bollinger Bands are contracting.

RSI: 49.

Bias: Daily bias is neutral. 

If price goes above 1.5293 I will be bullish, and f it goes below 1.5104 I will be bearish

Contact: newtraders01@gmail.com

DAILY FOREX ANALYSIS 7/17/2013

Pair: GBPUSD

Technical Studies: Daily Pivot Points, Moving Averages, Bollinger Bands, Relative Strength Index.
Daily Pivot Point: Cable opened above pivot point 1.5122.
Moving Averages 5,10&15: SMA5 1.5140, SMA10 1.5047& SMA15 1.5105.  There is golden cross on SMA5&10, and new golden cross has developed on SMA5&15. 
Bollinger Bands: Bollinger Bands are contracting, lower band is moving upward, while upper and middle are lower.
Relative Strength Index:  RSI is at 49, and moving upward
Bullish momentum is developing, but still need to mature. 
Trade Plan: 
Bulish above:1.5201
Bearish below:1.5077
Contact: newtraders01@gmail.com