Instaforex: Candle Analysis

[abu85]

NZD/USD candlestick analysis for August 9, 2011

n a 4-hour graph the NZD/USD formed a Three Falling Methods candlestick combination indicating downside movement confirmed further.
This combination was formed after a sharp decline from 0.8846. At the same time any rollback was used by the bears in order to increase their influence.
Downside movement is supported by the fact that the pair broke the lower limit of the downtrend. Besides, break of the support level 0.8114 means that this point of view is correct. Its break targeted the pair to 0.8014 with further target at 0.7975.
It is worth mentioning that stop loss should be placed slightly above 0.8345 as its break will enable the pair to reach 0.8465.

 

[abu85]

EUR/USD candlestick analysis (long-term view)

The EUR/USD currency pair is still trading down this week.
Earlier in a weekly graph the EUR/USD formed Dark Cloud Cover candlestick combination indicating downside movement confirmed further.
This combination shows that the pair dropped sharply after an attempt to advance to the resistance level 1.4700, which means that the bears started to increase their influence.
Further decline is supported by the RSI indicator demonstrating a rollback from the overbought level 70.0.
Break of the support level 1.3969 will denote that this point of view is correct. In this case we should expect a decline to the support level 1.3427 where the Fibonacci correction level 50.0 is also located.
It is worth mentioning that stop loss should be placed slightly above the resistance level 1.4700 as its break will target the pair to 1.4900. 

 

[abu85]

AUD/CAD candlestick analysis for August 9, 2011


The AUD/CAD currency pair is still trading down. Earlier in a daily graph the AUD/CAD has formed an Evening Star candlestick combination indicating bearish signal, confirmed further.
This candlestick combination was formed after the pair could not break the resistance level 1.0550, which means that the bulls could not solidify here and the bears started to increase their influence.
Break of the Fibonacci 23.6 correction level means that this point of view is correct. If the pair fixates below the support level 1.0123 will probably lead to downside movement to 0.9937 where the Fibonacci correction level 61.8 is also located. At the same time the break of 1.1023 will denote the formation of Double bottom.
It is worth mentioning that stop loss should be placed slightly above the 1.0550 level as its break will target the pair to 1.0600.

 

[abu85]

EUR/USD candlestick analysis (long-term view)

The EUR/USD currency pair closed with a sharp decline this week.
Earlier in a weekly graph the EUR/USD formed Dark Cloud Cover candlestick combination indicating downside movement confirmed further.
This combination shows that the pair dropped sharply after an attempt to advance to the resistance level 1.4700, which means that the bears started to increase their influence.
Further decline is supported by the RSI indicator demonstrating a rollback from the overbought level 70.0.
Break of the support level 1.3969 will denote that this point of view is correct. In this case we should expect a decline to the support level 1.3427 where the Fibonacci correction level 50.0 is also located.
It is worth mentioning that stop loss should be placed slightly above the resistance level 1.4700 as its break will target the pair to 1.4900. 

 

[abu85]

AUD/CAD candlestick analysis for August 18, 2011

The AUD/CAD currency pair is rolling back slightly after it failed to break the resistance near 1.0378.
Earlier in a daily graph the AUD/CAD has formed an Evening Star candlestick combination indicating bearish signal, confirmed further.
This candlestick combination was formed after the pair could not break the resistance level 1.0550, which means that the bulls could not solidify here and the bears started to increase their influence.
Break of the Fibonacci 23.6 correction level means that this point of view is correct. If the pair fixates below the support level 1.0123 will probably lead to downside movement to 0.9937 where the Fibonacci correction level 61.8 is also located. At the same time the break of 1.1023 denoted the formation of Double bottom.
It is worth mentioning that stop loss should be placed slightly above the 1.0378 level as its break will target the pair to 1.0550.

 

[abu85]

EUR/GBP candlestick analysis for August 19, 2011

0.8890-0.8642.
Earlier in a 4-hour graph the EUR/GBP formed a Dark Cloud Cover candlestick combination indicating downside movement confirmed further.
This candlestick combination was demonstrating strong upside movement after a fail to break 0.8720. However, it reversed near 0.9083. It means that the bears activated near 0.9100 and did not allow the bulls to fixate.
Fixation below the Fibonacci correction level 23.6 denotes that this point of view is correct. This caused a decline to the support level 0.8860 where the Fibonacci correction level 61.8 is located as well. Its break caused downside movement to 0.8720. Fixation below 0.8720 enabled the pair to reach 0.8600.
As mentioned before, in case the pair closes above the resistance level 0.8891 short positions should be closed as this break will target the pair to 0.9000.

 

[shadowfx]

information very useful, thank you tt, if I may please be given an analysis of the gbp / usd

 

[abu85]

information very useful, thank you tt, if I may please be given an analysis of the gbp / usd

Welcome

This analysis taken from instaforex website..

you can check... it here.. http://instaforex.com/forex_analysis/

 

[GhostTrader]

good information by TT..thanks bro..

 

[Light]

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