Technical Analysis from www.Instaforex.com

[BudakFx]

Copper review for 18/10/2010 2010-10-19​

Copper futures closed on the upside on Monday refreshing 27-month high amid the US dollar downtrend during the session. By the end of the deals on COMEX the December contract closed with 0,4% growth or by 1.6% higher at 3.8550 dollar-pound that comes as the highest ark from July 2008, when copper prices reached the maximum at 3.9630 dollar-pound.
Earlier in the session the copper recouped the lost positions when the US dollar turned down. A weak dollar makes the copper cheap for investors using other currencies.
The copper prices are still supported by news that in near time the FRS is to start the second wave of the quantitative easing.
In addition, last time this metal purchases soared, as one investors are waiting for the copper demand upturn amid the economic upsweep, while others are hedging themselves from the currency risks.




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

 

[BudakFx]

The AUD/USD candlestick analysis for 19/10/2010 2010-10-19​

At a 4-hour graph, the AUD/USD currency pair continued to roll back after it had reached the parity level. It is expected in a short-term the currency pair will consolidate. If the pair breaches the resistance level of 1.00, then the growth to 1.05 is expected.
Earlier on a 4-hour chart, The AUD/USD had formed the combination of candlesticks Morning Star, thus indicating the uprising movement.
This combination of candlesticks had formed near 0.8770, where the bulls started to increase their influence and a rollback after downwards motion happened. The uptrend is confirmed by the fact that Morning Star emerged near the lower limit of the uptrend (daily chart). This combination of candlesticks provided a good opportunity to open long positions.
The stop orders should be set slightly below 0.9615, as the breakthrough of this mark will denote the breach of the uptrend.




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

 

[BudakFx]

EUR/USD Technical Analysis. Support And Resistance Levels For October 11, 2010 2010-10-20​

Breakout Buy level : 1.3766.
Strong Resistance : 1.3758.
Original Resistance : 1.3745.
Inner Sell Area : 1.3731.
Target Inner Area : 1.3699.
Inner Buy Area : 1.3666.
Original Support : 1.3653.
Strong Support : 1.3639.
Breakout Sell level : 1.3631.

Yesterday, the EUR/USD successfully hit the Target. 2 at 1.3750, now this situation indicates that the bearish sentiment is observed on this pair. Especially, if today after this currency pair breaks 1.3724 level, it will go to 1.3685 level area (The Hesitation Level). If the pair can break and close below that level, it seems the EUR/USD will be going to 1.3625 as a target. 1 and 1.3525 as a target. 2. All these target must be fulfilled on Friday Oct 22/2010 (the third Rules). Otherwise, the EUR/USD will lose the downtrend momentum and it will lead this pair to the sideways movement. However, before this pair goes to these two targets, it must be back to up first to test 1.3750 level again, but if the EUR/USD after the re-test of the level is still going up to 1.3835 (break and close above that level), this situation will indicate the downtrend of the EUR/USD is cancelled, and the EUR/USD will be going to reach 1.3925 as a target. 1 and 1.3975 as a target. 2, before this pair go back to the 1.4000 level area again.




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

 

[BudakFx]

The USD/JPY technical analysis and trading recommendations for October 20, 2010 2010-10-20​

4-hour timeframe






Overview:
New buy signal is formed, however, the Bollinger Bands converged, thus indicating the flat. In this case, until the lines start to diverge, the Ishimoku signals can be ignored. In case the lines start to diverge up, it is recommended to wait until the price is above the Ishimoku cloud, as it will confirm the buy signal. If the Bollinger Bands are diverging and directed down, it is recommended to wait for the sell signal. The Chinkou Span is below the price curve, thus indicating the bearish sentiment. The Bollinger bands show the sideways movement in the narrow range, the lines converged and directed sideways. The MACD is ascending, testifying about the current correction.

Trading recommendations:
Currently, it is recommended to wait until the situation becomes clear and the Bollinger Bands start to diverge.

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 EUR/USD technical analysis and trading recommendations for October 20, 2010 2010-10-20​

4-hour timeframe



Overview:
New sell signal is confirmed, the Bollinger Bands started to diverge. The sell signal with the target to 1.3790 is strong now, as the Chinkou Span is below the price curve, and the price is below the Ishimoku Cloud. Moreover, the price has reached the first support level of 1.3781. In this case, the next target for the downside movement is the second support level of 1.3586. If this level is not broken through, the correctional movement can start. In case the price is above the Kijun-Sen (1.3920) it is recommended to cut short positions, as the sell signal will weaken. The Chinkou Span is below the price graph, thus confirming the current sell signal. The Bollinger Bands show the downtrend, the lines are diverging and directed down. The MACD is descending, testifying about the current downward movement.

Trading recommendations:
Currently, it is recommended to trade short with the target to 1.3586. Stop-loss is set above 1.3920. If the MACD reverses up the short positions should be cut.

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/JPY Technical Analysis. Support And Resistance Levels For October 20, 2010 2010-10-20​

Resistance. 3 : 81.78.

Resistance. 2 : 81.62.

Resistance. 1 : 81.46.

Support. 1 : 81.26.

Support. 2 : 81.10.

Support. 3 : 80.94.



Yesterday, after the USD/JPY hit the Resistance. 3 (Oct 19) at 81.67; it reversed down again between 10 pips - 20 pips, having come in line with our forecast before yesterday. Anyway, the USD/JPY failed to break and close below the mark of 81.00; now we assume the USD/JPY has a new direction (Up Now) as yesterday this pair broke through the triangle form. After the breakout of the triangle formation yesterday, the USD/JPY had set a new target 81.75 as a target.1 (it is a Hesitation level) and 82.50 as a target. 2, this direction and targets will expire until tomorrow Thursday, Oct 21/2010 (The 3rd Day Rules). Today it seems the USD/JPY will test 81.00 level again, but please pay attention to the Support. 3 (80.94) if this pair can break through 81.00 level there is a possibility that this currency will reverse up between 10 pips to 20 pips; but if the USD/JPY after it breaks Support. 3 (80.94) still goes down to 80.50 level it seems the upward movement from this pair will be fail.





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

 

[BudakFx]

Technical analysis of the USD/CAD for 20/10/2010 2010-10-20​

Support levels: 1.0076, 0.9980, 0.9930
Resistance levels: 1.0385, 1.0511, 1.0680

On 4-hour graph the USD/CAD currency pair continued the upside movement successfully breaking through the resistance level at 1.0190. A break through of 1.0385 will mean that a rollback from 1.0680 is over and further growth should be expected. In favor of this comes the divergence on MACD and RSI on 4-hour graph.
If the USD/CAD will make a turnout and overcome the support level at 1.0076, then the downward motion to 0.9980 is most probable with further target at 0.9930.
In a mid term a consolidation from 1.0855 has not finished yet and one more minimum is expectable. Nevertheless, if a turnout takes place then a breakthrough of 1.0680 will confirm that consolidation is finished and that the downtrend with 1.3063 is broken through. In this case, the USD/CAD is to end the upside tendency to Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target at the Fibonacci correction level 61.8 at 1.1866.



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

 

[BudakFx]

The EUR/USD candlestick analysis for 20/10/2010 2010-10-20​

The EUR/USD pair continues to move downwards.
Earlier on a 4-hour chart, the EUR/USD had formed Shooting Star candlestick that is a bearish signal.
This candlestick emerged on the uptrend. However, near January 2010 high, the bears started to increase their influence and a rollback happened.
The breakthrough of Fibonacci correctional level 23.6 and support level of 1.3777 indicates that the uptrend is breached and that this viewpoint is correct.
Now, the downside movement to 1.3382, where Fibonacci correctional level 50.0 is placed, should be expected.
The downside tendency is confirmed by the fact that on a daily chart the EUR/USD had formed the combination of candlesticks Dark Cloud Cover.
On the other hand, if the resistance level of 1.4157 is broken through, then short positions should be closed, as it will lead to new annual highs.




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

 

[BudakFx]

The AUD/USD candlestick analysis for 20/10/2010 2010-10-20​

On a 4-hour chart, the AUD/USD currency pair rolls back after it fell to the lower limit of the uptrend. At present, the viewpoint on the currency pair is bullish. If the resistance level of 1.00 is broken through, then the increase to 1.05 is expected.
Earlier on a 4-hour graph, the AUD/USD had formed the combination of candlesticks Morning Star, which is the signal for uprising movement.
This combination of candlestick formed near 0.8770, where the bulls started to increase their influence and a rollback after downside movement took place. The upward tendency is confirmed by the fact that Morning Star emerged near the lower boundary of the uptrend (daily chart). This combination of candlesticks opened an opportunity to take long positions.
It is worth to say that the stop orders should be set slightly below 0.9639, as the breakthrough of this mark will mean the breach of the uptrend.



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

 

[BudakFx]

USD/JPY Technical Analysis. Support And Resistance Levels For October 25, 2010 2010-10-25​

Resistance. 3 : 81.52.

Resistance. 2 : 81.36.

Resistance. 1 : 81.20.

Support. 1 : 81.00.

Support. 2 : 80.84.

Support. 3 : 80.68.

The USD/JPY has to break and close below 80.75 in order to confirm its downside movement. If today the pair breaches this level, it will move to 80.25 and in case the downtrend is strong, the USD/JPY will reach 80.00 level. However, today before the pair moves to this level, it will face a Support. 3 at 80.68 level. If the pair hits this level, it will cause the reverse of the currency up by approximately 10 pips to 20 pips, but if the USD/JPY after hit the Support. 3 still goes down to 80.24 level, this will indicate the downtrend for this pair. On the other hand, in case today the USD/JPY moves to the Resistance. 3 at 81.52 level, they is a possibility the pair reverse to downsides by approximately 10 pips to 20 pips. Nevertheless, if this pair after hit that level and still goes up until to 81.96, this will indicate the uprising movement for the USD/JPY; but the downside pressure for the USD/JPY is stronger than the upside.

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