Instaforex: Candle Analysis

[abu85]

EUR/JPY candlestick analysis for October 6, 2011

In a 4-hour graph the EUR/JPY currency pair is rebounding after recent sharp decline, however it is still trading within a downtrend.
Earlier in a 4-hour graph the EUR/JPY formed a Long Shadows candlestick indicating a decline confirmed further. This candlestick was formed amid a rollback after a breakthrough of an upside channel, which means that the bears dominate on the market.
Besides, the currency pair broke the support level 110.10 which proves this point of view. Further another bearish combination Three Falling Methods was formed, which intensified the downside movement. At the same time a break of the Fibonacci projection level 61.8 targeted the pair to the support level 106.75. Break of 106.75 will probably lead to a decline to a psychologically relevant support level 100.00.
It is worth mentioning that stop loss should be placed slightly above the resistance level 105.33 as its break will cause upside movement to 107.00.

 

[abu85]

EUR/USD candlestick analysis (long-term view) 2011-10-07

The EUR/USD currency pair has traded up this week thus recovering all the lost positions.
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. Its break targeted the pair to 1.2869.
It is worth mentioning that stop loss should be placed slightly above the resistance level 1.3969 as its break will target the pair to 1.4700.

 

[genofx]

candle...sedap2

 

[abu85]

GBP/USD candlestick analysis for October 10, 2011

The GBP/USD currency pair is demonstrating a rebound after it could not fixate below the support level 1.5344. Nevertheless the viewpoint at the pair remains bearish.
Earlier in a 4-hour graph the GBP/USD pair formed a Falling Three Methods combination that gives us a bearish signal.
This combination was formed amid a downside movement after the pair could not break the resistance level near 1.6600, which means that the bulls could not solidify here and the bears started to increase their influence. At the same time each rollback was considered as a pause before further decline.
Break of the support level 1.5565 will denote that this point of view is correct. In this case we should expect a downfall to the support level 1.5344. Its break will cause downside movement to 1.5290.
It is worth mentioning that stop loss should be placed slightly above the 1.5932 level as its break will allow the pair to reach 1.6200.

 

[abu85]

GBP/JPY candlestick analysis for October 11, 2011

Earlier in a 4-hour graph the GBP/JPY formed a Hammer candlestick indicating a bullish signal confirmed further.
This candlestick was formed after the pair once again failed to break the support level 116.87, which means that the bears could not solidify here and further the bulls started to increase their influence.
Break of the Fibonacci correction level 23.6 and the downtrend will prove this point of view. Their break will target the pair to the resistance level 130.80 whrer the Fibonacci correction level 61.8 is located as well. At the same time successful testing of the resistance level 120.80 will point to the formation of a Double Bottom.
It is worth mentioning that in case the pair fixates below the support level 116.87, long positions should be closed as it will cause refreshing of multi-month lows.

 

[abu85]

GBP/USD candlestick analysis for October 12, 2011

The GBP/USD currency pair is demonstrating a rebound after it could not fixate above the support level 1.5565. Nevertheless the viewpoint at the pair remains bearish.
Earlier in a 4-hour graph the GBP/USD pair formed a Falling Three Methods combination that gives us a bearish signal.
This combination was formed amid a downside movement after the pair could not break the resistance level near 1.6600, which means that the bulls could not solidify here and the bears started to increase their influence. At the same time each rollback was considered as a pause before further decline.
Break of the support level 1.5565 will denote that this point of view is correct. In this case we should expect a downfall to the support level 1.5344. Its break will cause downside movement to 1.5290.
It is worth mentioning that stop loss should be placed slightly above the 1.5932 level as its break will allow the pair to reach 1.6200.

 

[abu85]

EUR/USD candlestick analysis (long-term view) 2011-10-13
​

The EUR/USD currency pair is trading up this week. Nevertheless, the viewpoint remains bearish.
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. Its break targeted the pair to 1.2869.
It is worth mentioning that stop loss should be placed slightly above the resistance level 1.3969 as its break will target the pair to 1.470

 

[abu85]

GBP/USD candlestick analysis for October 17, 2011

The GBP/USD currency pair is approaching the resistance level 1.5932. In case of its break short positions should be closed.
Earlier in a 4-hour graph the GBP/USD pair formed a Falling Three Methods combination that gives us a bearish signal.
This combination was formed amid a downside movement after the pair could not break the resistance level near 1.6600, which means that the bulls could not solidify here and the bears started to increase their influence. At the same time each rollback was considered as a pause before further decline.
Break of the support level 1.5565 will denote that this point of view is correct. In this case we should expect a downfall to the support level 1.5344. Its break will cause downside movement to 1.5290.
It is worth mentioning that stop loss should be placed slightly above the 1.5932 level as its break will allow the pair to reach 1.6200.

 

[abu85]

EUR/JPY candlestick analysis for 2011-10-18

In a 4-hour graph the EUR/JPY currency pair is rolling back after an unsuccessful testing of the resistance level 107.00.
Earlier in a 4-hour graph the EUR/JPY formed a Piercing Line candlestick indicating upside movement confirmed further.
This candlestick was formed after the currency pair could not break the support level 100.75, which means that the bears could not solidify here and the bulls started to increase their influence.
Break of the Fibonacci correction level 23.6 and the downside channel proves this point of view. Their break targeted the pair the resistance level 111.93 where the Fibonacci 50.0 level is also located.
However we should mention that in case the pair fixates below the support level 100.75 long positions should be closed as it will cause a downfall to a psychologically relevant level 100.00.
.

 

[akukayo]

EUR/JPY candlestick analysis for 2011-10-18

In a 4-hour graph the EUR/JPY currency pair is rolling back after an unsuccessful testing of the resistance level 107.00.
Earlier in a 4-hour graph the EUR/JPY formed a Piercing Line candlestick indicating upside movement confirmed further.
This candlestick was formed after the currency pair could not break the support level 100.75, which means that the bears could not solidify here and the bulls started to increase their influence.
Break of the Fibonacci correction level 23.6 and the downside channel proves this point of view. Their break targeted the pair the resistance level 111.93 where the Fibonacci 50.0 level is also located.
However we should mention that in case the pair fixates below the support level 100.75 long positions should be closed as it will cause a downfall to a psychologically relevant level 100.00.
.

ada potensi nak pegi 100.00 lani..