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Candlestick analysis of the EUR/GBP for 24/11/2010 2010-11-24​

On a daily graph the EUR/GBP is again showing the decrease after a slight pullback. The outlook is still bearish, as the downtrend remains. As it was mentioned before if the level of 0.8451 is broken through then the decrease to support level of 0.82 is expected.
Earlier on a daily chart the EUR/GBP formed the combination of candlesticks Bearish Engulfing that points to the downwards tendency.
This combination of candlesticks shows that the currency pair was moving upside during several weeks after it failed to break out the support level of 0.8067. Nevertheless, the pair reversed having moved to 0.8950. This means that the bears started to increase their influence here and did not allow the bulls to solidify.
The breakthrough of the Fibonacci correction level 38.2 and support level of 0.8626 confirms this viewpoint.
It is recommended to place the stop orders slightly above 0.8821, as the breakout of this area will target the EUR/GBP to 0.8950.





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

 

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Technical analysis of the USD/CAD for November 24 2010-11-24​

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

On a 4-hour graph the USD/CAD currency pair is pulling back from 1.0263 after it could not break this resistance level through. The short-term outlook is bullish, since the resistance level of 1.0160 is breached. If the upside movement continues then the advance to 1.0385 is expectable after a breakout of 1.0263. Further the breakthrough of 1.0385 will denote that the rollback from 1.0680 is over and the growth should be awaited.
On the other hand, if the USD/CAD reverses and breaks through the level of 0.9980, then this will lead to the decline with the target to 0.9930.
In a midterm the consolidation from 1.0855 has not ended yet and another low should be expected. Nevertheless, in case of the reversal the breakout of 1.0680 will confirm that the consolidation finished and that the downside trend from 1.3063 is breached. In this case it is predicted 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

 

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USD/JPY Technical Analysis. Support And Resistance Levels For November 24, 2010 2010-11-24​

Today Technical Levels :

Resistance. 3 : 83.65.
Resistance. 2 : 83.48.
Resistance. 1 : 83.32.
Support. 1 : 83.11.
Support. 2 : 82.95.
Support. 3 : 82.78.

Today Outlook :

For today, the USD/JPY is at the crossways; if it wants to continue the Bullish Movement then this pair must break out and close above the level of 83.75, in case of this situation the pair will move upside to the mark of 84.00 and the next target will be the level of 84.25. But before this situation happens, this pair must face with the today’s Resistance. 3 (83.56), usually after hit this level the USD/JPY reverses to down between 10 pips to 20 pips. However, if after hit this level this pair is still going up to the mark of 84.09 this will confirm the Bullish movement is still presented. But I prefer the second scenario; the USD/JPY will go down below the level of 83.25 and reach its next target at 83.00. If this pair has a strong momentum for downside movement, the mark of 82.75 will be reach and the next target will be the level of 82.50. Nevertheless, before this pair goes to that the level, the USD/JPY will meet with today’s Support. 3 (82.78). Usually after hit this level this pair reverse to up between 10 pips to 20 pips, but if after hit today Support. 3 the USD/JPY pair is still going down to the mark of 82.34, this will indicate the Downtrend is strong today.







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

 

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The EUR/USD technical analysis and trading recommendations for November 24 2010-11-24​

4-hour timeframe



Overview:
New sell signal with a target to 1.2949 formed, since the price having left the Ishimoku Cloud did not confirm the previous buy signal. The current signal is strong and confirmed, as the price is below the Ishinoku cloud and the Chinkou Span managed to fixate below the price graph. In this case the second support level of 1.3315 is the first target for downside movement. In case this level is broken through the next target will be the third resistance level of 1.3186. The critical level below which the downside movement is till observed is 1.3560 (Kijun-Sen), it is recommended to cut short positions above this level. The Chinkou Span is below the price graph, thus confirming the current sell signal. Bollinger Bands show the beginning of the downwards trend, the lines are diverging and directed downside. MACD is descending, which also indicates the current downtrend.

Trading recommendations:
Currently, it is recommended trade down with the targets to 1.3315 and 1.3186. The stop-loss is set above 1.3560. In case MACD reverses upside we close short positions.

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

 

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USD/JPY, Technical analysis and trading recommendations for November 24. 2010-11-24​

USD/JPY



The US dollar/Japanese yen pair is continuing to move in a downwards trend since the beginning of July. In the last few days the pair has been signaling an opportunity for action after it has reached the upper border of the range. From this point onwards the pair is expected to make a return back down, towards the lower border of the trench, or, alternatively, to breach the trench upwards.
Therefore it is possible to enter a sell deal even on the current price levels with exit goals around the support level of 81.40 and the support level of 80.20. On the other hand, a breach and daily close over the upper border of the range at 83.60 will signal of a positive momentum which is expected to push the pair all the way up to the resistance levels of 85.40 and 87.00 respectively.



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

 

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USD/JPY Technical Analysis. Support And Resistance Levels For November 25, 2010 2010-11-25​

Today Technical Levels :

Resistance. 3 : 83.94.
Resistance. 2 : 83.78.
Resistance. 1 : 83.61.
Support. 1 : 83.41.
Support. 2 : 83.24.
Support. 3 : 83.08.

Today Outlook :

It seems that the level of 83.75 serves as a strong Resistance and the mark of 83.25 as a strong Support during a couple of days. For the clear uptrend up, this currency must break out that strong Resistance (83.75) and close above 84.25. On the other hand, for the well-defined downside trend, this pair must break through below the level of 83.25 and close below the mark of 82.75. However please pay attention to today's Resistance. 3 (83.94) and today's Support. 3 (83.06); usually after hit these levels the USD/JPY reversal to up/down. But if after hit this level the pair is still going on their way until 50 pips it will indicate this pair has find its movement for today.



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

 

[BudakFx]

EUR/USD Technical Analysis. Support And Resistance Levels For November 25, 2010 2010-11-25​

Today Technical Levels :

Breakout Buy level : 1.3388.
Strong Resistance : 1.3380.
Original Resistance : 1.3367.
Inner Sell Area : 1.3354.
Target Inner Area : 1.3323.
Inner Buy Area : 1.3292.
Original Support : 1.3279.
Strong Support : 1.3266.
Breakout Sell level : 1.3258

Today Outlook :

This pair is now trading in the range between 1.3325 and 1.3275, the rebound from the level of 1.3325 will lead to the fact that the EUR/USD will re-test again the mark of 1.3375 and move to 1.3400. However, if the EUR/USD can break down the level of 1.3275 then the currency pair will move to 1.3250 and further to 1.3225, and probably it will reach 1.3200; especially if this pair closes below the yesterday’s low (1.3284).



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

 

[BudakFx]

EUR/USD Intraday Technical analysis 2010-11-25​

The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.3340. A breakout of this area will free a significant potential for the brginning of an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance level at 1.3340 with a 1st objective of 1.3420, then 1.3460. A breakthrough at 1.3310 will invalidate this scenario.

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

 

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GBP/USD Intraday Technical analysis 2010-11-25​

The spot rate has bounced off the lower limit of its medium-term downtrend channel at 1.5720 and is currently testing the upper limit of its short-term downtrend channel at 1.5770 . A breakthrough of this area will provide a significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has breached its resistance level of 1.5770 with a 1st objective of 1.5830, then 1.5860. A breakout in 1.5750 will invalidate this scenario.


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

 

[BudakFx]

GOLD Intraday Technical analysis 2010-11-25​

Gold is currently testing the lower limit of its medium-term bullish channel at 1369 suggesting a rebound in the short term. But the upside trend is limited as a departure from its short term downtrend channel was not performed.

According to previous events, the market indicates a bullish opportunity on the levels of 1369 with a 1st objective of 1379, then 1382. A breakthrough of 1367 level will invalidate this scenario.

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