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EUR/USD Technical Analysis. Support and Resistance Levels For November 10, 2010 2010-11-10​

Breakout Buy level : 1.3836.
Strong Resistance : 1.3828.
Original Resistance : 1.3815.
Inner Sell Area : 1.3802.
Target Inner Area : 1.3769.
Inner Buy Area : 1.3736.
Original Support : 1.3723.
Strong Support : 1.3710.
Breakout Sell level : 1.3701.


Yesterday the level of 1.3750 was easily reached by the EUR/USD. If the EUR/USD wants to continue its downside movement, this pair must breakout and close below the 1.3685 level. 1.3865 will be a first target for the downside movement, and the second target is 1.3525 before it reaches the mark 1.3500. However, if this pair breaks through and closes above 1.3775 level this will indicate the EUR/USD will set a new direction (going up) with the first target at 1.3875 and the second target at 1.3975 before it moves to the 1.4000 level area again.

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

 

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GBP/AUD is continuing its upward trend (Daily Signal), November 10, 2010 2010-11-10​

After the trend line was broken decisively, the Pound/Australian dollar pair is all the way back down, apparently in order to re-examine the same line that served as resistance before the break and is expected to now act as support.

The first objective for the exercise part of the long position is in relation to the first resistance level of 1.6230, while the second goal for the total year is in relation to the higher resistance level around 1.6530 Australian dollars per pound.


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

 

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EUR/USD Intraday Technical analysis 2010-11-11​

The spot rate came to test the upper limit of its medium-term downtrend channel in 1.3810 and fell. A break of this area would release a significant potential and begin an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will break its resistance in 1.3810 with a 1st objective of 1.3890, then 1.3910. A break in 1.3780 would invalidate this scenario.

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

 

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USD/JPY Intraday Technical analysis 2010-11-11​

The spot rate came to test the upper limit of its medium-term bullish channel 82.80 and fell. It seems to initiate a pull back on its support through to 82.00 before a resumption of bullish.

According to previous events, the market indicates a bullish opportunity on the levels of 82.00 with a 1st objective of 82.80, then 83.20. A break in 81.80 would invalidate this scenario.

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

 

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GOLD Intraday Technical analysis 2010-11-11​

Gold has rebounded yesterday from the lower limit of the bullish channel and is currently testing its strength through to 1412. A break of this zone will allow it to reach the upper limit of its channel in 1430.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will break its resistance in 1412 with a 1st objective of 1421, then 1430. A break in 1410 would invalidate this scenario.

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

 

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GBP/USD Intraday Technical analysis 2010-11-11​

The spot rate is out of its medium term downtrend channel by breaking the upper limit of this one to 1.6110. A pull back is expected before a resumption of bullish.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6110 with a 1st objective of 1.6180, then 1.6240. A break in 1.6080 would invalidate this scenario.

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

 

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USD/JPY Technical Analysis. Support And Resistance Levels For November 10, 2010 2010-11-11​

Today Technical Level :

Resistance. 3 : 82.55.
Resistance. 2 : 82.39.
Resistance. 1 : 82.23.
Support. 1 : 82.02.
Support. 2 : 81.86.
Support. 3 : 81.70.

Today Outlook :

Since the USD/JPY has got a strong upside movement 2 day ago now this pair is starting to retrace, anyway this currency still tries to reach 82.03 (Fibonacci Support 61.8%). If this pair hits and closes below this level, then the USD/JPY will probably meet with new support at 81.81 level (Fibonacci Support 78.6%). In case this pair can break out and close bellow all these levels this will lead to the weakening of the USD against the YEN, especially if the USD breaks through and closes below 81.50. However before this pair moves down to that level it must face the Support. 3 at 81.70. Usually, after the USD/JPY hits the Support. 3 area it reverses to upside between 10 pips to 20 pips, otherwise if this pair after hit the Support. 3 area still goes down to the level of 81.25, this will indicate the USD/JPY has a strong downside momentum for today. On the other hand, the USD/JPY can go upwards to the Resistance. 3 at 82.55, usually the USD/JPY will reverse to the downside between 10 pips to 20 pips. However, if the pair reaches the Resistance. 3 and moves up to the mark of 83.00, this will denote the USD/JPY has a strong up momentum for today. However, please be attentive because today it is the Bank Holiday in the USA, so please be ready for an unexpected movement and volatility today.

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

 

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

Today Technical Level :

Breakout Buy level : 1.3841.
Strong Resistance : 1.3833.
Original Resistance : 1.3820.
Inner Sell Area : 1.3807.
Target Inner Area : 1.3774.
Inner Buy Area : 1.3741.
Original Support : 1.3728.
Strong Support : 1.3715.
Breakout Sell level : 1.3706.



Today Outlook :

Yesterday the level of 1.3685 served as a strong support, the EUR/USD has already reversed to the upside from it. The pair has already broke out and closed above 1.3775 and now is trying to reach 1.3825 as a first target and 1.3875 as a second target, before the EUR/USD moves back to 1.3900 again. Nevertheless, the pair moves to that level it will try tore-test the level of 1.3750 at first before it will reach both of the targets. In case the currency pair still moves downside to 1.3674 after the re-testing, this situation will indicate the EUR/USD has already lost the upside momentum for today. However, because of 2 Bank Holidays (French & US) today, please be prepared for an unexpected movement and volatility for this pair today.





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

 

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Copper Review for 10/11/2010 2010-11-11​

Copper futures closed on the downside on Wednesday amid the profit fixation by the traders after reaching new highs, the US dollar strengthening and weak economic data on import of China.

By the end of deals on COMEX the December contract closed on the downside by 7.4 cents or by 1.8% to 3.969 dollar/pound. On Tuesday the contract reached the highest mark from July 2008, but on Wednesday it lost the won positions, as the traders were fixing their profit. At present moment, the copper futures are trading on the upside by 6,3% in November.
The Chinese data on copper import reduced in October the second straight month that has put a downward pressure on futures. China is the major copper consumer. According to the report of China's Main Custom Authority, the import in October amounted to 273 511 tones that by 26% lower than the September indicator.

Partly the downtrend was caused by the production activity fall in China during the week holidays at the beginning of October.
Many observers expect the November demand to rise in November. The descending pressure on the market was put by the US dollar upturn that makes the copper futures more expensive for the holders of other currencies.
Nevertheless, a positive US report restricted the metal losses on Wednesday. As it became known the trade deficit of the USA eased in September, and the jobless claims turned out to be better than anticipated. The copper is sensitive to such data, as it is widely used in the production and construction.




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

 

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The candlestick analysis of the AUD/USD (long-term outlook) 2010-11-11​

The decline of the AUD/USD currency pair was limited by the parity level against the US dollar. As it was noted before, a breakout of the resistance level of 1.00 targeted the currency pair at 1.05. In case of the successful breakthrough of 1.00 to downside, the next important support will be the mark of 0.9646.
At a week graph the AUD/USD has formed the bullish combination of candlesticks Bullish Engulfing, which indicates the uprising motion, confirmed further.
In favor of upside movement comes the fact that this combination of candlesticks emerged on the uptrend after a rebound from the support level of 0.8066 and from the Fibonacci correction level 38.2, where the bears did not solidify and the bulls started increasing their influence.
This combination of candlesticks shows that the currency pair was declining after the failure to break out the resistance level of 0.9394. However, the pair reversed having come closer to 0.8066.
The fact that the AUD/USD broke through the mark of 0.8855 denotes that this point of view is correct.
On the other hand the long positions should be closed in case the support level of 0.9400 is breached, as it will lead to downside movement to 0.8765.




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