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Candlestick analysis of the AUD/USD (long term outlook) 2010-11-19​

This week the AUD/USD is traded with a slight decline. At present, the currency pair is rolling back after it successfully breached the support level near 0.98. As it was mentioned before, it is recommended to close long positions in case the support level of 0.9646 is broken through, as it will allow pair to reach 0.9400.
Earlier at a weekly chart the AUD/USD formed the bullish combination of candlesticks Bullish Engulfing that indicates the uprising signal, confirmed further.
In favor of the 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 the Fibonacci correction level 38.2, where the bears did not manage to solidify and the bulls started to increase their influence.
This combination of candlesticks show that the pair was declining after it could not 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 level of 0.8855 means that this point of view is correct.



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

 

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Candlestick analysis of the GBP/CHF for 19/11/2010 2010-11-19​

On a 4-hour graph the GBP/CHF is probably forming the bullish combination of candlesticks Rising Three Methods. If the pair closes above the level of 1.0068, this will confirm this point of view.
In favor of he further advance comes the fact that this combination of candlesticks is forming on the uptrend near the resistance level of 1.6008, in case this level is broken through the increase to 1.6600 is expectable.
The combination of candlesticks Rising Three Methods shows that the currency pair demonstrated the upside motion during a couple of days after it failed to break out the support level of 1.5417, which means that the bulls increased their influence here and did not allow the bears to fixate.
It is recommended to wait for the complete formation of the candlesticks’ combination. In this case the stop orders should be placed below the support level of 1.5860, as the breakthrough of this mark will target the pair at 1.5717.



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

 

[BudakFx]

EUR/USD Outlook Remains Bearish , November 19, 2010 2010-11-19​

The latest slide has finally stopped after ending a sequence of consecutive daily lower highs, and it seems the market starts the process of correcting the latest major 1.4285-1.3445 move. While there is certainly room for additional upside movement from current levels (1.3715), our outlook remains bearish following the break below 1.3700 several days ago. The 38.2% fib retracement off of the latest move comes in by 1.3760, with the level also offering itself as the midpoint between the 10/20-Day SMAs.
STRATEGY: Sell is set at 1.3760 or 1.3780 for an Open Objective; STOP is set at 1.3850.



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

 

[BudakFx]

EUR/USD Technical Analysis. Support And Resistance Levels For November 22, 2010 2010-11-22​

Today Technical Level :

Breakout Buy level : 1.3816.
Strong Resistance : 1.3808.
Original Resistance : 1.3795.
Inner Sell Area : 1.3781.
Target Inner Area : 1.3749.
Inner Buy Area : 1.3716.
Original Support : 1.3703.
Strong Support : 1.3689.
Breakout Sell level : 1.3681.



Today Outlook :

At early morning, this pair tries to reach the mark of 1.3775. If today the EUR/USD achieves and breaks through this level, then there is a possibility that the EUR/USD will move to the level of 1.3800. On the other hand, in case today the pair breaks down the mark of 1.3750, then it will point to the fact that the level of 1.3725 is a next target and probably the EUR/USD will move downwards again to the level of 1.3700. In case the downside movement is strong, the mark of 1.3675 will be the next target for this pair today.



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

 

[BudakFx]

USD/JPY Technical Analysis. Support And Resistance Levels For November 22, 2010 2010-11-22​

Today Technical Level :

Resistance. 3 : 83.86.
Resistance. 2 : 83.70.
Resistance. 1 : 83.53.
Support. 1 : 83.33.
Support. 2 : 83.17.
Support. 3 : 83.00.

Today Outlook :

At present the USD/JPY moves in a range of 83.25 – 83.75. However if today this pair can break this range to the downsides (bellow the 83.25), it will lead this currency pair to the level of 83.00 and in case the downside movement its strong then the pair probably will reach the level of 82.75. Nevertheless before this pair goes to that level, it must face with today Support. 3 (83.00). Usually after hit this level the USD/JPY reverses to up between 10 pips - 20 pips, but if after hit this level this pair is still going down to the level of 82.55 this will indicate that the Yen strengthen against the US Dollar today. On the other hand, if this pair can close above the mark of 83.75, then the pair will move to the level of 84.00; and if this tendency is strong enough, the mark 84.25 can be reached easily. However at first this pair will face with the Resistance. 3 at 83.86; usually after hit this level the USD/JPY reverses to the downside between 10 pips to 20 pips; but if after hit the Resistance. 3 level 83.86 this pair is still moving up to the level of 84.31, it will denote that the USD will strengthen against the Yen today.



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

 

[BudakFx]

EUR/USD Intraday Technical analysis 2010-11-22​

The spot rate is currently testing the upper limit of its medium-term bullish channel at 1.3780 and seems starting to decline. However a breakout of this area will enable it to begin an uptrend more violent.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance level at 1.3780 with a 1st objective of 1.3860, then 1.3890. A breakout in 1.3750 will invalidate this scenario.

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

 

[BudakFx]

GBP/USD Intraday Technical analysis 2010-11-22​

The spot rate approached the upper limit of its medium-term downtrend channel at 1.6090. A breakthrough of this area will release a significant potential for the beginning of an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken out its resistance level at 1.6090 with a 1st objective of 1.6160, then 1.6190. A breakthrough of 1.6070 will invalidate this scenario.

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

 

[BudakFx]

GOLD Intraday Technical analysis 2010-11-22​

Gold has been testing the resistance level since Friday at 1365 representing the second shoulder of the figure in "head-shoulder". A breakout of this area will invalidate this scenario and release a significant upside potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance level at 1365 with a 1st objective of 1376, then 1384. A breakout at 1363 will invalidate this scenario.

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

 

[BudakFx]

USD/JPY Intraday Technical analysis 2010-11-22​

The spot rate is currently testing the upper limit of its short term downtrend channel at 83.55. A breakthrough of this zone will allow it to reach the upper limit of its medium-term bullish channel at 84.00.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken out its resistance level of 83.55 with a 1st objective of 84.00, then 84.20. A breakout at 83.40 will invalidate this scenario.

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

 

[BudakFx]

Technical analysis of the USD/CAD for 22/11/2010 2010-11-22​

Support levels: 0.9980, 0.9930, 0.9820
Resistance levels: 1.0263, 1.0385,1.0513

At a 4-hout chart the USD/CAD is rolling back from 1.0236, having broken through the support level of 1.0160. Recently, the currency pair was traded in a range of 0.9980 – 1.0162. Since the important resistance level is broken through the viewpoint became bullish. As it was mentioned before, if the uprising motion continues then the advance with the target to 1.0385 is expected. The breakout of 1.0385 will denote that the rollback from 1.0680 ended and further growth should be expected.
On the other hand if the USD/CAD reverses and breaks through the mark of 0.9980, this will lead to the decline with the target at 0.9930.
In a midterm the consolidation from 1.0855 has not finished yet and another low should be expected. Nevertheless in case of the reversal the breakout of 1.0680 will confirm the end of consolidation and that the downside trend from 1.0363 is breached. In this case it is forecasted that the USD/CAD will move upside to the Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target to the Fibonacci correction level 61.8 at 1.1866.




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