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Candlestick analysis of the EUR/USD for 23/09/2010 2010-09-23​

Earlier at 4-hour graph the EUR/USD pair has formed the Shooting Star candlestick which gives a bearish sign.
This candlestick formed after that the currency pair had made a huge upward motion, but a breakthrough failure of 1.3439 led to a rollback. It means that here the bears have probably started to increase their impact.
A breakthrough of Fibonacci correction level 23.6 will mean that this point of view is correct. In this case the downward movement to the support level at 1.3155-1.3140 where the Fibonacci correction level 38.2 is located.
On the other hand, when overcoming the resistance level at 1.3439 it is recommended to close short positions as the breakthrough of this mark will open the way to 1.3688.



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

 

[BudakFx]

EUR/USD technical analysis and trading recommendations for 23/09/2010 2010-09-23​

4-hour timeframe



Overview:
As expected, the buy signal is continuing with a target at 1.3064. This is a strong and confirmed signal as the price fixed above the Ishimoku cloud and the Chinkou Span is above the price curve. The target level is passed, however, the signs the upward movement comes to an end are not observed. Alongside, the price managed to fix above the first resistance level of 1.3235, which offers the next target of the movement at 1.3422 – the second resistance level. In case this level is passed the further target will be 1.3687 – the third resistance level. If the rebound from this level occurs, a correctional movement can start. When the MACD reverses down, the long positions should be cut manually. In case, the price is below the Kijun-Sen (1.3230) that will denote the weakening of the current signal and the point to reduce long positions. The Chinkou Span is above the price chart, which is a confirmation of the current buy signal. The Bollinger Bands show the upward movement, the lines are diverging and directed upside. The MACD is ascending thus demonstrating the current upturn.

Trading recommendations:

Currently, it is recommended to trade long with the target at 1.3687. Stop-loss is set below 1.3482. If the MACD reverses down, the long positions should be cut manually. We enter the market only after price fixes above 1.3422.

In addition to technical image one should take into account the fundamental data and the time of their release.

The chart annotation:
Ishimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with the white bars in the indicators window.




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

 

[BudakFx]

AUD/USD Candlestick Analysis for September 24, 2010 2010-09-24​

On 4-hour chart, the AUD/USD currency pair is pulling back after it reached a fresh two-year high. On the daily chart, a candlestick combination of Evening Star has been formed thus signaling the bears strengthen. In case AUD/USD breaks through Fibonacci correctional level of 23.6 that will confirm this viewpoint.




For those who earlier have opened long positions it is recommended to close them if the support level of 0.9270 is broke down since it will indicate that the uprising trend is breached. Earlier on 4-hour chart, AUD/USD has formed the Morning Star combination, which is a signal for upward motion.
This combination developed around the mark of 0.8770, where the bulls increased their influence and a pullback after a downward movement took place. The fact that the Morning Star combination shaped nearly the lower limit of the ascendant trend (a daily chart) supports an upward motion.



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

 

[BudakFx]

Candlestick analysis of EUR/GBP 2010-09-24​

EUR/GBP pair is rolling back from the resistance level of 0.8605. The breaking through of this mark denotes that EUR/GBP is targeted to 0.9160, where Fibonacci correctional level of 61.8 is.
Earlier on a weekly chart, EUR/GBP has formed Hammer candlestick thus indicating the bullish signal. This viewpoint is confirmed by the fact that this candlestick formed near the support level of 0.8070, where the bulls increased their influence and bears did not strengthen, and rebound took place. The candlestick shows the decline of the currency pair after unsuccessful attempt to break through the resistance level of 0.9411. However, having approached the level of 0.8067, it has reversed.
Since EUR/USD has broke out Fibonacci correctional level of 23.6 denotes that this viewpoint is correct.
On the other hand, long positions should be closed if the support level of 0.8070 is broken through, as it will cause a drop to 0.7693.




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

 

[BudakFx]

Technical analysis of the USD/CAD for 24/09/2010 2010-09-24​

Support levels: 1.0188, 1.0101, 1.0050
Resistance levels: 1.0385, 1.0511,1.0569

On 4-hour chart, the USD/CAD currency pair has broken though the resistance level of 1.0360, this probably denotes that the rollback from the mark of 1.0680 stopped. Nevertheless, in order this viewpoint is confirmed this pair should breach the level of 1.0385. in this case we expect the upward motion with the aim at 1.0511.
If the currency pair reverses and breaks out the support level of 1.0188, then the decline to 1.0101 is expected.
In midterm, the USD/CAD continues the uprising movement after it forming a bottom at 0.9930. A breakthrough of 1.0680 will confirm the upward trend as well as the downward trend with 1.3063 is broken though. In this case, it is expected that the USD/CAD pair will move up to Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1123 with the next target at Fibonacci correction level 61.8 at 1.1866.



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

 

[BudakFx]

EUR/USD technical analysis and trading recommendations for 24/09/2010 2010-09-24​

4-hour timeframe



Overview:

Buy signal is continuing with a target at 1.3064. This is a strong and confirmed signal as the price fixed above the Ishimoku cloud and the Chinkou Span is above the price curve. The target level has been already passed, however, the signs the upward movement comes to an end are not observed. Alongside, the price managed to fix above the first resistance level of 1.3235, which offers the next target of the movement at 1.3422 – the second resistance level. The price did not fix above the second resistance level. The price has slightly corrected having rebounded from this level. In case this level is passed the further target will be 1.3687 – the third resistance level. If the price is below the Kijun-Sen (1.3230) that will denote the weakening of the current signal and the point to reduce long positions. The Chinkou Span is above the price chart, which is a confirmation of the current buy signal. The Bollinger Bands show the upward movement, the lines are diverging and directed upside. The MACD is descending thus demonstrating the current downward trend.

Trading recommendations:
Currently, it is recommended to trade long with the target at 1.3687. Stop-loss is set below 1.3230. If the MACD reverses up, we enter the market.

In addition to technical image one should take into account the fundamental data and the time of their release.

The chart annotation:

Ishimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with the white bars in the indicators window.







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

 

[BudakFx]

USD /CHF technical analysis and trading recommendations for September 24, 2010 2010-09-24​

4-hour timeframe



Overview:

The sell signal with target at 0.9781 is continuing. This signal is confirmed and strong as the price is below the Ishimoku cloud and the Chinkou Span is below the price chart. That is why the downward movement is more preferable now. The price has overcame the first support level of 0.9951 and the second support level of 0.9807 is the next target. In case the price rebounds from this level, the sideway trend or correction take place. If the price breaks through these support levels then it will set new target at 0.9678. If the price is above the Kijun-Sen (0.9950) that will denote the weakening of the current sell signal and the point to reduce long positions. The Chinkou Span is below the price chart, which is a confirmation of the current bearish attitude. The Bollinger Bands show the downside movement, the lines are diverging and directed down. The MACD is slightly ascending thus pointing tp the probable correction.

Trading recommendations:

Currently, it is recommended to trade short with the target at 1.3687. Stop-loss is set above 0.9950. If the MACD reverses down, we enter the market.

In addition to technical image one should take into account the fundamental data and the time of their release.

The chart annotation:
Ishimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with the white bars in the indicators window.




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

 

[BudakFx]

The U.S. stock market review for 23/09/2010 2010-09-24​

The U.S. stock market review for 23/09/2010
The USA trading session resulted in stock indices fall. The stocks have been pushed downwards for the second session in a row amid the adverse data on the U.S. labor market and European economic statistics
Dow Jones Industrial Average decreased by 77 points (0.7%) down to 10662 points. During the session the index was demonstrating a mixed trade before the plunge at closing. Dow closed in the negative territory for the second straight session, having shown the most dramatic tumble since September 7. Still it remains 6,5% higher than it was at the beginning of the month and 2,3% higher than it was in early 2010.
Standard & Poor's 500 declined by 9.5 points (0.8%) down to 1125 points, while Nasdaq Composite sank by 7.5 points (0.3%) down to 2327 points.
Walt Disney stocks reduced by 87 cent (2.6%), which is presently $33.12. General Electric stocks fell in price as well – by 36 cent (2.2%), down to $16.14. J.P. Morgan securities decreased by 84 cent (2.1%) to $39,10.
These losses are said to be rather expected, since the market had approached the upper level of its recent range. Investors are unlikely to break through this range for there is but a week left until the end of the month and the quarter.
The choppy stock market dynamics on Thursday was caused by the promiscuous statistics. The report on unemployment benefits came short of the forecasts. The same holds true of the data on Eurozone economic growth. The positive news on unexpectedly substantial increase in sells on the primary U.S. housing market last month was not sufficient to eliminate the concerns.
Ireland announced the Q2 abrupt fall in the GDP. The economic activity of the country considerably decelerated in April-June, which enhanced the concerns both within Europe and outside its boundaries. What was questioned is whether the rigid economic measures are effective for settling the enormous public debt, accumulated by many governments for the economic crisis and recession.
Meanwhile, this month German economy showed a tangible slowdown in public sector activity. According to the Eurozone supplier indices, its economy has been slackening even faster than forecast.




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

 

[BudakFx]

EUR/USD Technical Analysis. Support And Resistance Levels For September 27, 2010 2010-09-27​

Here is an intraday Important trading level for this pair today :

Breakout Buy level : 1.3543.
Strong Resistance : 1.3535.
Original Resistance : 1.3522.
Inner Sell Area : 1.3509.
Target Inner Area : 1.3477.
Inner Buy Area : 1.3445.
Original Support : 1.3432.
Strong Support : 1.3419.
Breakout Sell level : 1.3411 .



Market Overview :

The euro has strengthened to 1.34 because of the negative sentiment in United States about the FED's wrong estimation of the US dollar value. By the way, the euro strengthening has been also promoted by the successful sale of Portugal’s state bonds in amount of 750 million euros, thus making market players optimistic regarding the Common European Currency. The US Federal Reserve is prepared to provide additional measures for economic recovery if it is necessary. New stimulus measures will include the maintaining of the interest rates and purchase of treasury bonds.

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

 

[BudakFx]

GBP/USD technical analysis and trading recommendations for September 27 2010-09-27​

4-hour timeframe



Overview:
The buy signal is continuing. This signal is confirmed and strong as the price is above the Ishimoku cloud and the Chinkou Span is above the price chart. The signs that the upward movement is over are not observed. Alongside, the price managed to fixate above the pivot level of 1.5721, thus indicating new target 1.5940 – the first resistance level. The price did not fix above the resistance level. In case this level is broken through, the next target will be 1.6061 – the second resistance level. In case, the price is below the Kijun-Sen (1.5970) that will denote the weakening of the current signal and the point to reduce long positions. The Chinkou Span is above the price chart, which is a confirmation of the current buy signal. The Bollinger Bands show the upside movement, the lines are diverging and directed up, denoting the probable continuation of the uprising movement. The MACD is slightly ascending thus pointing to the current up movement.

Trading recommendations:
Currently, it is recommended to trade long with the target at 1.5940. Stop-loss is set below 1.5670. If the MACD reverses down, the long positions should cut manually.

In addition to technical image one should take into account the fundamental data and the time of their release.

The chart annotation:
Ishimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with the white bars in the indicators window.





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