Technical analysis on EU,GU and majors

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GBP/USD Intraday Technical analysis 2010-11-24

Yesterday the spot rate rebounded from the lower limit of its medium term downtrend channel at 1.5760 and approached its intermediate resistance level of 1.5880. A breakout of this zone will allow pair to reach the upper limit of its channel at 1.6050.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance level in 1.5880 with a 1st objective of 1.5980, then 1.6020. A breakthrough of 1.5850 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2010

 

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Fundamental Analysis, November 25, 2010

The price of crude oil has recorded yesterday its sharpest advance in the last four months, jumping up by over 3% to a level of 84 US dollars for one barrel during electronic trading at the New York Commodities exchange. The price of gold, in the meanwhile, recorded a slight descent by 0.4% to a level of 1372 US dollars for one ounce of gold.
Wall Street trading closed yesterday on index rises inspired by positive macroeconomic data from the labor market. By the end of the trading day, the Dow Jones Industrial Average had strengthened by 1.4% to 11,188 points, the NASDAQ index ticked up by 1.9% to 2,543 points, whereas the S&P 500 had risen by 1.5% to 1,198 points. Today the stock markets in the United States will be closed for Thanksgiving.
Index rises have been recorded this morning in the Asian stock markets for the first time in three days. As such the Tokyo stock exchange has recorded a 0.8% rise, the Hong Kong exchange climbs about 1%, and the Seoul exchange climbs slightly by 0.2%.
In the American macroeconomic arena, the Irish government had published data yesterday regarding its new austerity plan including the reduction of government deficits by 15 billion Euros (4% of the nation's GDP) over 4 years. The program includes a 10 billion expenditures cut as well as new taxes that will increase government revenue by 5 billion Euros.
The Bureau of Labor Statistics reported yesterday that the amount of new unemployment claims in the United States had fallen last week by 34 thousand to 407 thousand, the lowest level since July 2008. The reduction was far sharper than predicted by analysts, who expected to see 435 thousand new unemployment claims. Furthermore, it was reported that private consumption in the United States grew by 0.4% in October, slightly lower than economists' predictions of a 0.5% rise. Furthermore, the order data for non-consumable products had descended by 3.3% in October as compared to the previous month, while analysts expected only a 0.1% decline in orders.


Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010

 

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EUR/USD Intraday Technical analysis 2010-11-25

The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.3340. A breakout of this area will free a significant potential for the brginning of an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance level at 1.3340 with a 1st objective of 1.3420, then 1.3460. A breakthrough at 1.3310 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

Fundamental Analysis, November 26, 2010

Index declines have been recorded this morning in the Asian stock markets, led by South Korean and commodities stock due to China's attempts to bring inflation under control, the debt crisis in Europe and the tensions in South Korea. As such, the Tokyo stock exchange drops 0.2%, the Hong Kong stock exchange drops about 0.1%, the Seoul stock exchange dives about 1.3%, and the Shanghai exchange retreats by 0.5%.

The European debt crisis is expanding, with Portugal and Spain at the center of concern these days, due to investors' fears that, should the Portuguese crisis worsen, it will expand also to neighboring Spain. Interest rates on Portuguese ten-year bonds have jumped up to 7% yesterday, and those on Spanish bonds leaped up to 5.08%. Furthermore, there exist concerns that the European aid fund is not large enough to also rescue Spain, the 4th largest Eurozone economy. It must be noted that Spain's economy is largest than those of Greece, Ireland, and Portugal combined. That said, the Spanish deputy Minister of Finance stated yesterday that the country would not require funding until the end of the year.

In the same context, the German chancellor, Angela Merkel, clarified in her Berlin speech that despite European concerns over the Irish debt crisis threatening to engulf other Eurozone states, so far no country is required to reorganize its debt. The chancellor added that Germany is ready to act in solidarity with its European partners to preserve the market strength of the Euro.

Today is “Black Friday” in the United States, the opening shot for the holiday shopping season in the United States. As in every year, investors will be watching retail chain sales closely, as they have long become an index of the strength of private consumption, and thus the overall state of the American economy.

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

Candlestick analysis of the GBP/USD for 26/11/2010

On a 4-hour graph the GBP/USD currency pair is continuing to decline. The viewpoint on the currency pair is bearish, as earlier the combination of candlesticks Bearish Engulfing formed; this combination indicates the decrease, confirmed further.
This combination of candlesticks appeared after the currency pair could not break through the resistance level near 1.6085-1.6096, which means that the bulls did not manage to solidify here. Further the bears started to increase their presence.
The breakout of 1.5841 confirms this point of view. After a pullback the pair resumed its decline with the target to 1.5651.
In case the resistance level of 1.6096 is breached then short positions should be closed, as it will lead to advance to 1.6175.

Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010

 

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The EUR/USD technical analysis and trading recommendations for November 26

Overview:
The sell signal with the target to 1.2949 is still observed. The current signal is strong and confirmed, as the price is below the Ishimoku Cloud and the Chinkou Span is below the price graph. That is why the first target for the downside movement is the second support level of 1.3315, which the price reached but has not yet overcome. In case the second resistance level is passed the next target will be the third support level of 1.3186. The critical level below which the downside movement is presented is Kijun-Sen (1.3530), it is recommended to cut short positions above this level The Chinkou Span is below the price graph, thus confirming the current sell signal. Bollinger Bands show the continuation of downwards movement, the lines are diverging and directed down. MACD is ascending, thus showing the slight correction movement.

Trading recommendations:
Currently, it is recommended to trade down with the target to 1.3186, we enter the market only after the price fixates below 1.3315. Stop Loss is placed above 1.3530. Also in order to trade down it is necessary to wait for MACD reverses downside.


Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

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EUR/USD Technical Analysis. Support and Resistance Levels For November 29, 2010

Today Technical Level :

Breakout Buy level : 1.3275.
Strong Resistance : 1.3267.
Original Resistance : 1.3255.
Inner Sell Area : 1.3242.
Target Inner Area : 1.3211.
Inner Buy Area : 1.3179.
Original Support : 1.3167.
Strong Support : 1.3154.
Breakout Sell level : 1.3146.

Today Outlook :

The pair EUR/USD is still appeared biased within the downtrend. However, if the retesting of the level 1.3200 fails, the pair will break up the level 1.3250; in this case, EUR/USD is likely to reach the level 1.3275 before continuing rising up to the mark 1.3300.
On the other hand, if after having retested the level 1.3200 successfully the pair breakdowns this level, EUR/USD is expected to fall to the level 1.3175 as a first target and 1.3150 as a second one.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

Candlestick analysis of the GBP/US for November 29, 2010

Candlestick analysis of the GBP/US for November 29, 2010
On a 4-hour graph the GBP/USD continues to decline. As it was expected the GBP/USD has broken through the support level of 1.5661. We expect the decrease with target to 1.5500 after a pullback.
The outlook is bearish, as earlier the pair formed the combination of candlesticks Bearish Engulfing that indicates the decline, confirmed further.
This combination of candlesticks emerged after the currency pair could not break through the resistance level near 1.6085-1.6096, which means that the bulls did not manage to fixate here. Further, the bears started to increase their influence.
A breakout of 1.5841 confirms this point of view.
However, it is worth pointing out that in case the resistance level of 1.6096 is broken through then short positions should be closed, as it will lead to increase to 1.6173.

Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD. Continuation of the downwards movement, November 30, 2010

GBP/USD

Due to concerns over the European debt crisis, the British pound/ US dollar pair dove sharply from its previous highs of 1.6300 and to its present levels around 1.5550. The likelihood for a trend reversal or at the very least a technical correction have risen sharply after the pair was braked by the strong support level of 1.1550 US dollars for one British pound.

Although it is possible to enter a buy deal even now, a daily close over the support level will add confidence to the upwards movement. On the other hand, one must be careful regarding the possibility for continued negative momentum. In the case of a final breach at 1.5480 will produce a signal for a position reversal and move to a sell deal on the pair with an exit goal around the next support level around 1.5250 US dollars per one British pound.



Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD technical analysis and trading recommendations for November 30

Overview:
The sell signal with the target to 1.2949 is still presented. The current signal is strong and confirmed as the price managed to fixate below the Ishimoku Cloud and the Chinkou Span is below the price graph. In this case the first target for the downside motion is the second support level of 1.2824. The Kijun-Sen (1.3230) is the critical level below which the downwards tendency is still observed, it is recommended to cut short positions above this level. The Chinkou Span is below the price graph, thus confirming the current sell signal. Bollinger Bands show the continuation of the downtrend, the lines are diverging and directed down. MACD is descending, thus pointing to the current downwards motion.

Trading recommendations:
Currently it is recommended to trade down with a target to 1.3033 and further to 1.2824. Stop Loss is placed above 1.3230.

Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD technical analysis and trading recommendations for December 01, 2010

Overview:
The sell signal with a target to 1.5531 is still observed. The current signal is strong and confirmed, as the price managed to fixate below the Ishimoku cloud and the Chinkou Span is below the price graph. In this case the first target for downside movement is the first support level of 1.5416. If this level is passed the next target will be the second support level of 1.5240. Kijun-Sen (1.5635) is the critical level below which the downwards motion maintains, it is recommended to cut short positions above this level. Also it is worth pointing out that the target level of 1.5531 has been passed already and MACD indicated the correction movement, which can be the beginning of new uptrend. The Chinkou Span is below the price graph, thus confirming the current sell signal. Bollinger Bands show the continuation of downside motion, the lines are converging and directed down, thus pointing to correction movement against the downtrend. MACD is ascending, which means the beginning of correction tendency.

Trading recommendations:
Currently it is recommended to trade down with a target to 1.5416 and further to 1.5240. Stop Loss is placed above 1.5635. We enter the market only after the correction ends, which will be indicated by the turndown of MACD.


Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD Technical Analysis. Support And Resistance Levels For December 01, 2010

Today Technical Level :

Breakout Buy level : 1.3056.
Strong Resistance : 1.3048.
Original Resistance : 1.3036.
Inner Sell Area : 1.3023.
Target Inner Area : 1.2993.
Inner Buy Area : 1.2962.
Original Support : 1.2950.
Strong Support : 1.2937.
Breakout Sell level : 1.2930.

Today Outlook :

At present the EUR/USD is traded in the range of 1.3025 – 1.2975. In case this pair breaks up and closes above the level of 1.3025, then 1.3050 will be a first target and 1.3075 – a second target before the EUR/USD will move to 1.3100. On the other hand if this pair can break out and close below the level of 1.2975, then the pair probably will reach the mark of 1.2950. In case today the momentum to downsides is strong enough then the pair will reach the level of 1.2925 before it moves to 1.2900.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

The EUR/USD technical analysis and trading recommendations for December 02, 2010

Overview:
The sell signal with the target to 1.2949 is still observed. The current signal is strong and confirmed, as the price is below the Ishimoku cloud and the Chinkou Span is below the price curve. The price is near the first support level of 1.3033, which is the first target for downside movement. In case this level is passed the next target for movement will be the second support level of 1.2824. Kijun-Sen (1.3150) is the critical level below which the downwards motion remains, it is recommended to cut short positions above this level. It is worth pointing out that the target level has been passed already, and the MACD reversed to up, which denotes the correction movement. The Chinkou Span is below the price graph, thus confirming the current sell signal. Bollinger Bands show the continuation of the downtrend, the lines are slightly converging and directed down, thus pointing to the correction tendency against the downtrend. MACD is ascending, thus also indicating the current correction motion.

Trading recommendations:
Currently it is recommended to trade down with a target to 1.3033 and further to 1.2824. Stop Loss is placed above 1.3150. We enter the market only after MACD turns down.

Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD Technical Analysis. Support and Resistance Levels For December 06, 2010

Today Technical Level :

Breakout Buy level : 1.3439.
Strong Resistance : 1.3431.
Original Resistance : 1.3418.
Inner Sell Area : 1.3405.
Target Inner Area : 1.3373.
Inner Buy Area : 1.3341.
Original Support : 1.3328.
Strong Support : 1.3315.
Breakout Sell level : 1.3307.

Today Outlook:

It seems that today the EUR/USD will try to reach the 1.3300 level. If this level is easily broken through, then the pair will decline to the mark of 1.3275 as a first target and to 1.3250 as a second target. In case the Breakout Sell Level (1.3307) is broken out, it will indicate that the pair has again the Bearish momentum. On the other hand, if the level of 1.3300 acts as a strong support and this pair easily breaks up the level of 1.3325, then the EUR/USD will rise again to 1.3350 as a first target and to 1.3350 as a second target.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD Intraday Technical analysis 2010-12-06

On Friday the spot rate broke through its intermediate resistance level to 1.5720 giving a place to an acceleration. A pullback is possible on these levels before a resumption of bullish movement.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5720 with a 1st objective of 1.5860, then 1.5910. A breakthrough of 1.5690 will change this situation.
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Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD. We Expect a Break In The Trend Line, December 07, 2010 (Daily Strategy)

The likelihood for forming a bottom on the EUR/USD pair rose significantly last Friday, after an impressive leap by the pair and a weekly close around the level of 1.3430. One may enter a buy deal on the pair even at its present values, although perhaps it is preferable to make the entry conditional on a breaching of the trend line formed by the weekly close.

A breaching of the trend line around 1.3425 will confirm the positive momentum on the pair, with the intermediary goal for exit from the buy deal set around the resistance level of 1.3950.

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD Intraday Technical analysis 2010-12-07

The spot rate approached to its resistance level through its medium-term downtrend channel 1.5780. A breakout of this zone will allow the pair to reach the upper limit of this channel at 1.5880.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5780 with a 1st objective of 1.5860, then 1.5880. A breakthrough of 1.5750 will change the situation.


Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD Technical Analysis. Support and Resistance Levels For December 08

Today Technical Level:

Breakout Buy level : 1.3329.
Strong Resistance : 1.3321.
Original Resistance : 1.3308.
Inner Sell Area : 1.3295.
Target Inner Area : 1.3264.
Inner Buy Area : 1.3233.
Original Support : 1.3220.
Strong Support : 1.3207.
Breakout Sell level : 1.3199.

Today Outlook:

It seems the EUR/USD will test the 1.3200 level, which acts as a strong support for today. But please pay attention to this "Round Number/Physiologic Level". If the EUR/USD breaks out and closes below that level, then the pair will go down to the level of 1.3175 as a first target and to the level of 1.3150 as a second target, especially if the Breakout Sell level (1.3199) will be broken through. On the other hand, if the 1.3200 level serves as a strong support and the EUR/USD starts to reverse upside again and breaks out the mark of 1.3225, then the pair will move to test the 1.3250 level as a first target and the 1.3275 level as a second target before this pair goes back to 1.3300.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD, Pattern of Stagnation, December 08, 2010 (Daily Strategy)

GBP / USD

The pair Pound - Dollar is on the high of a sharp correction after running into the secondary resistance of 1.5815, leading the pair down. As the trend remains positive, you can take advantage of the current correction to get the pair to a more attractive price. The 1.5700 support level will serve as a prime target for purchase.

According to the estimation technique, the pair Pound - Dollar falls into a pattern of stagnation, after which it is estimated that it would resume the upward sequence, which began some time ago. Our ultimate goal for the start of the long position is about the important resistance level of $1.6050 per pound.


Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

The EUR/USD wave analysis for December 09, 2010.

Yesterday the EUR/USD price returned to the boundaries of the downward corridor and continued slow movement along its upper border. We can suppose that this is the first waves’ formation of the future 5th wave of the whole down-trend which started on November, 04. At the same time for Euro there is still possibility that the wave situation of the correction structure which was formed after November, 01and possibly is its 4th wave can complicate.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010