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[BudakFx]

EUR/USD Technical Analysis. Support And Resistance Level For August 20, 2010. 2010-08-20​

The rising anxiety about a slow recovery of the global economy has helped to weaken the euro exchange rate, hence the anxiety level of the economic situation in Greece is getting worse along with the tightening of budgets in this country, which is not good for the economy of Greece, as its budget in some areas has increased sharply to 70 %. And in parts of the eurozone there has been no significant advance of economic growth, so in the result the market decided to sell rather than hold the European currency, for example, the German PThe rising anxiety about a slow recovery of the global economy has helped to weaken the euro exchange rate, hence the anxiety level of the economic situation in Greece is getting worse along with the tightening of budgets in this country, which is not good for the economy of Greece, as its budget in some areas has increased sharply to 70 %. And in parts of the eurozone there has been no significant advance of economic growth, so in the result the market decided to sell rather than hold the European currency, for example, the German PPI inflation data despite recent increase of 0.5%, is still lower than in the previous month at 0.6%, this makes the European currency not to move significantly as expected by the market. However, the market is currently looking for new clues in the data due from the eurozone where the indicators should be consecutively positive.
As for the technical analysis, the position of the euro against the US dollar has been quite overbought since this currency has touched 1.3280-level, which is the strongest level since April 2010, that is why during this week, this pair has been demonstrating a weakening tendency. Another reason of the market to attain to the risk aversion is a statement that the US FRS acknowledges that the country's economic growth is slowing.


Anyway here are the intraday important trading levels for this pair for today:


Breakout Buy level : 1.2869.
Strong Resistance : 1.2861.
Original Resistance : 1.2849.
Inner Sell Area : 1.2836.
Target Inner Area : 1.2806.
Inner Buy Area : 1.2775.
Original Support : 1.2763.
Strong Support : 1.2751.
Breakout Sell level : 1.2743.






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

 

[BudakFx]

USD/JPY Technical Analysis. Support And Resistance Levels For August 20, 2010 2010-08-20​

Market in the United States is quite shaken after the re;eased data released economic data looks weak and beyond they're expectations. Thats Why yesterday US Dolar during London Market close gotted weakeness againts Yen so the result that times USD hit the Support. 3 @ 85.16 and after approximatelly 1 hour latter Our Target (10 Pips to 20 Pips) gonna hit; here's the screenshoot :






Now for today, here are important intraday trading levels for USD/JPY :

Resistance. 3 : 85.83.

Resistance. 2 : 85.66.

Resistance. 1 : 85.50.

Support. 1 : 85.29.

Support. 2 : 85.12.

Support. 3 : 84.95.










Suggestions:

Taking Scalp for 10 pips to 20 Pips nearly Support. 3 for BUY and Resistance. 3 for SELL; but please observe if this pair after the break of Support. 3 or Resistance. 3 is still going for 47 pips - 50 pips, then this pair is likley to continue the movement, so please change the position before.





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

 

[BudakFx]

USD/JPY technical analysis and trading recommendation for August 20, 2010. 2010-08-20​

4-hour timeframe




General view:
A new sell-signal targeted to 84,31 is formed, which is weak and unconfirmed. However, at the moment the situation more resembles flat or a weak declining movement with dense reverses. And I will not recommend trading before the beginning of the trend advance. In addition, it is needed to mention that the price is positioned near the Ishimoku cloud which increases the uncertainty. The current falling target is the support level of 85.16. if this level is passed, the aim will be the second support level of 84,13. The Chinkou Span is placed below the price curve denoting the falling continuation. The Bollinger Bands show the sideways movement as the lines are not diverging and are sideward directed. The MACD is increasing which shows uncertainty.




Trading recommendations:

Currently, it is not advisable to trade as all indicators show diversified movements. The Bollinger Bands signal the flat.


Besides the technical picture, it is important to consider the fundamental reports and 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 August 23, 2010 2010-08-23​

The yen exchange rate is strengthening against the euro for the seventh consecutive week, signaling a slowing of the global economic demand in the Japanese currency for hedging purposes. The yen has become stronger than 15 out of 16 majors before the reports’ release this week predicting the fall in the US home sales and a slow economic recovery in Japan in July. Anyway, concerns about the global economic growth and the uncertainty have boosted the yen purchases. Last week, the Japan's Trade Minister Masayuki Naoshima stated that the current position of the yen against the US dollar was too strong, that the currency (the yen) should be by about 6% weaker then US Dollar to help the exporters in Japan this year, the yen has consolidated to 8.3%. Meanwhile, based on the Tankan survey conducted by the Bank of Japan, Japan's manufacturing industry expects the yen to move to the range of 90.16 yens per the US dollar for six months ended March 2011.
However, here are the intraday important levels for this pair today :


Resistance. 3 : 85.86.
Resistance. 2 : 85.69.
Resistance. 1 : 85.52.
Support. 1 : 85.31.
Support. 2 : 85.14.
Support. 3 : 84.97.


Suggestions:


Scalping from 10 pips to 20 pips near the Support. 3 for BUY and the Resistance. 3 for SELL; but please, pay attention, that if this pair is still moving for 47– 50 pips after breaking through the Support. 3 or the Resistance. 3, then it is likely to continue the advance, so please, change the position beforehand.










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

 

[BudakFx]

EUR/USD Technical Analysis. Support And Resistance Level For August 23, 2010. 2010-08-23​

The European Central Bank Council member Axel Weber said that the ECB should help banks to overcome liquidity pressure till the end of the year before making a decision about when to give the emergency aid. That statement brought up fears about the European recovery ahead of the reports on the performance of the US housing sector. A total of 54 economists have predicted that the purchase of new and existing homes will fall by 12% in July. The ECB officials’ comments force the market to re-focus on the European economy; the uncertainty about the economic recovery makes the market reluctant to take excessive risks. So, the result of that statement was that last week on Friday the EUR/USD pair had already a Breakout and closed below "The Breakout SELL level", thus losing the strength of that pair (the euro – the US dollar).




However, here are the important intraday levels for this pair today :

Breakout Buy level : 1.2758.
Strong Resistance : 1.2751.
Original Resistance : 1.2739.
Inner Sell Area : 1.2727.
Target Inner Area : 1.2697.
Inner Buy Area : 1.2667.
Original Support : 1.2655.
Strong Support : 1.2643.
Breakout Sell level : 1.2635.




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

 

[BudakFx]

The EUR/GBP Candlestick Analysis for 23/08/2010 2010-08-23​

On a 4-hour chart the EUR/GBP pair is declining. Breaking through the mark of 0.8215 denotes that EUR/GBP has targeted to 0.8067.
As it was said before, the candlestick combination “Bearish Engulfing”, is formed on a 4-hour chart, showing that the currency pair has been demonstrating an upward movement for several days after an unsuccessful attempt to of breaking through the support level of 0.8067. However, having approached 0.8531, it has reversed. This in its turn denotes that the bears have activated at that mark without giving the bulls to fixate here.
Moreover, the EUR/GBP pair passed the support level of 0.8423 and the Correctional Fibonacci level of 23.6 confirming the viewpoint.
It should be singled out that stop orders are to be placed slightly above 0.8285, as the puncture of this mark will mean that the declining trend is broken through.




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

 

[BudakFx]

EUR/GBP Candlestick Analysis for August 24,2010 2010-08-24​

On a four-hour chart the EUR/GBP currency pair is consolidating. Though a short-time attitude to the pair remains bearish. Breaking through the mark of 0.8215 denotes that EUR/GBP has aimed at 0.8067.
As it was stated before, on a 4-hour chart the candlestick combination “Bearish Engulfing” has formed, which shows that the currecny pair has been demonstrating an uprisign movement for several days after an unsuccessful attempt to break though the support level 0.8067. However, having approached 0.8531, it reversed. This denotes that the bears have activated at this mark, not letting the bulls fiaxt here.
Moreover, EUR/GBP has interrupted the support level 0.8423 and Fibonacci correctonal level of 23.6, which confirms this viewpoint.
We should underline that stop orders are to be placed slightly above 0.8285, as the puncture of this level will mean the breaking of the decreasing trend.




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

 

[BudakFx]

USD/CAD Technical Analysis for August 24,2010 2010-08-24​

Support Levels: 1.0380, 1.0244, 1.0200
Resistance Levels: 1.0586, 1.0670, 1.0858


On a 4-hour timeframe USD/CAD has succeeded to break the upper border of the declining channel. At the moment the pair is consolidating around the resistance level of 1.0586, after a break though it an upturn with a further target of 1.0670 should be expected.
In case of the reversal, the puncture of 1.0380 and the EMA(55) will make the intraday attitude to the currency pair neutral. However, if the decrease continues, the break through the support level of 1.0244 will aim the currency pair at 1.0107.
in a mid term prospect, USD/CAD is likely to have formed a bottom at 0.9930. Meanwhile, taking into account the bullish divergence on a daily and weekly MACD, the outlook of the pair remains bullish against the background of the descending trend reverse from the mark of 1.3063. It is foreseen that USD/CAD will ascend to Fibonacci correctional level of 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target at Fibonacci correctional level of 61.8 at 1.1866.






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

 

[BudakFx]

Analysis of Market Manipulations with Aud/Usd for 24.08.10 2010-08-24​

The Australian dollar hit all the indicated targets but thereafter amid other currency pairs the Aussie started to decline. On the background of such bearish market sentiments I can only forecast the current decline.


Trading recommendations:


-Stay out of the market.



Performed by Alexey Portnov, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

EUR/USD Technical Analysis. Support And Resistance Level For August 24, 2010. 2010-08-24​

Negative sentiments on the market have increased after the statement of Alex Weber that suggested the ECB to extend emergency lending to the banks until to first quarter of 2011. As a result of the perception of that statement, the current financial crisis in the Eurozone will last much longer. Thus, the slowing world economy is weakening with a predicted decline in property sales in the US housing sector that is due today, with the lack of economic indicators supporting the United States, new data can show that the global economic situation is still gloomy, particularly in the Eurozone and the United States.
Here are the important intraday levels for this pair today:



Breakout Buy level : 1.2695.
Strong Resistance : 1.2687.
Original Resistance : 1.2675.
Inner Sell Area : 1.2663.
Target Inner Area : 1.2633.
Inner Buy Area : 1.2603.
Original Support : 1.2591.
Strong Support : 1.2579.
Breakout Sell level : 1.2571.






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