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EUR/GBP Candlestick Analysis for August 31, 2010 2010-08-31

EUR/GBP Candlestick Analysis for August 31, 2010 2010-08-31​

On a 4-hour chart EUR/GBP is demonstrating flat. However, the attitude to the currency pair remains bearish.
Breaking through the mark 0.8215 means, that EUR/GBP has targeted to 0.8067.
As it was mentioned before, on a 4-hour chart the combination of candlesticks “Bearish Engulfing” has developed, which shows that the pair has been demonstrating the uprising movement over several days after an unsuccessful attempt of breaking through the support level of 0.8067. Though, having approached 0.8531, it has reversed. Which in its turn denotes that the bears have activated at that point without letting the bulls fixate.
Moreover, the EUR/GBP pair has broken through the support level of 0.8423 and Fibonacci correctional level of 23.6, which confirms this viewpoint.
It should be underlined that stop orders can be placed slightly above 0.8240, as passing this level will denote the falling trend to be punctured.




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

 

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EUR/USD Technical Analysis. Support And Resistance Levels For August 31, 2010. 2010-0

EUR/USD Technical Analysis. Support And Resistance Levels For August 31, 2010. 2010-08-31​

During the trading session yesterday the American currency strengthened versus the euro amid the report of the Bureau of Economic Analysis (BEA) about a performance improvement on the consumption sector in the economy of the USA. The actual release showed that the indicator Personal Spending on monthly basis which improved to 0.4% previously estimated to rise to 0.4% from the value at the previous period of 0.0%. The GBP-USD pair was trading within the range of 1.5542.
The important intraday trading levels for today are:



Breakout Buy level : 1.2724.
Strong Resistance : 1.2716.
Original Resistance : 1.2704.
Inner Sell Area : 1.2692.
Target Inner Area : 1.2662.
Inner Buy Area : 1.2632.
Original Support : 1.262.
Strong Support : 1.2608.
Breakout Sell level : 1.2600.








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

 

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USD/JPY Technical Analysis. Support And Resistance Levels For August 31, 2010 2010-08

USD/JPY Technical Analysis. Support And Resistance Levels For August 31, 2010 2010-08-31​

The Bank of Japan finally issued an incentive for the first time since March 2010, providing extra bank credit amounting to 10 trillion Japanese yen with a fixed interest rate for a six-month period; where such credit will be given one or two times per month in the sum of around 800 billion yens. Although, yesterday the yen became stronger versus the US dollar, apparently the BOJ seems to have failed again as the market saw that stimulus is not enough to hold the yen increase against the American currency.


The important intraday trading levels for today are:



Resistance. 3 : 84.91.

Resistance. 2 : 84.74.

Resistance. 1 : 84.58.

Support. 1 : 84.37.

Support. 2 : 84.20.

Support. 3 : 84.03.



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

 

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Question and Answer. Trading Recommendations for AUDUSD and EURGBP. 2010-08-31​

Yesterday I got a few emails with requests to write about AUD/USD and EUR/GBP. As I have enough time, I will kindly write about it. Although in my last review I described the market. I will point out here only the conclusions.
On the market the situation is very puzzled. The main thing which should be given attention is the negative data releases, as they are able to make the markets refrain from risky assets and invest in the US dollar, and if they have no fear of the BOJ interventions, in the yen as well.
As to the Aussie, there is nothing much to be said here.












There is the area of 0,8754 above which according to the technique it should be bought, and below – sold. But not on such market, moreover, I do not personally see any strategy in it lately. There is something similar to a red ascending channel and numerous ress/supp in the form of actual for it movements. Besides, all of them have almost converged thus denoting a long-term wide sideways market movement.
The first sell signal here can be breaking through the red channel downwards with a confirmation. But this is not the solution for selling and one can hardly be directed by this. It will be more logical to regard the selling exactly after breaking through 0.8754 by the price of the week close. The close daily price will not be enough. I will not consider the variants of purchases by far; the market is unfavorable for it at the moment.
The situation with the euro-pound pair is easier. In one of the reviews I wrote that the strong statistics can support the pound. In fact, it is happening so currently. To put it right, the British fundamentals appear much better than the European. It is clearly seen on the charts that the euro is falling shaper than the pound. As to their maximums, the pound has moved less to the lows than the euro. Yesterday’s trading illustrates similar dynamics. From the market opening price the European currency decreased more than the pound.
The pound is moving downwards at a slow pace. It is possible that everybody is waiting for the enhancement of the rate, or at last for a hint to this event, which is not wise. The authorities of the US and EU declare that it is too early to refrain from the mild policy of interest rates. And the same situation is in the UK. As its economy has hardly recovered from the crisis distortions, since there are no surprisingly favorable statistics yet. So, I suppose they will not be increasing the interest rate till 2011.
Nevertheless, all these events give support to the pound. That is why at the moment the British pound looks more attractive than the European currency. Actually, the charts are demonstrating it visually.


















I think that there is nothing much to explain, as everything is quite vivid. I can recommend the following. It is only logical to sell. The most conservative option here is selling from 0,8284 - 0,8305 with a target at 0,8030. It is logical to put the stop slightly above 0,8390. Being aggressive, one should consider the break through the level of 0,8165 with the same target. In this case the stop is in accord to your MM. I would prefer the conservative variant of selling, and if it does not move higher, wait for this vivid break through, see the price dynamics and estimate if it is worth acting.


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Performed by Aleksey Goncharov, Analytical expert
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EUR/USD Technical Analysis. Support And Resistance Levels For September 1, 2010 2010-09-01​

The meeting of the FOMC held this morning has demonstrated that the US economic forecasts have worsened and currently the economic growth needs the incentives of the FRS. Thus, the authorities will discuss the measures which can restore the advance. The FRS has also come to a conclusion to re-invest the funds into mortgage-related securities with a maturity and long-term US government bonds so that to balance the use of funds amounting to $ 2 trillion and maintain the support for economic growth. The FRS are open for other actions, such as the options to invest back into the mortgage-based security assets, mortgage-backed securities are the major choice in order to see the improvements in time. In the figures you can see the movement of the pair.






The important intraday trading levels for today are:

Breakout Buy level : 1.2735.
Strong Resistance : 1.2728.
Original Resistance : 1.2716.
Inner Sell Area : 1.2704.
Target Inner Area : 1.2674.
Inner Buy Area : 1.2644.
Original Support : 1.2632.
Strong Support : 1.2620.
Breakout Sell level : 1.2612.






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

 

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USD/JPY Technical Analysis. Support And Resistance Levels For September 1, 2010 2010-09-01​

The yen is weaker than the US dollar and the euro the first time in three days following the signals of the economic recovery in Asia as the investors buy assets with higher yields. The Japanese currency declined versus 16 main opponents after China reported the fastest advance of the manufacturing sector in August 2010. Thus, yesterday this pair after hitting the Support. 3 level during FOMC meeting, moved to target profit (between 10 pips to 20 pips).




The important intraday trading levels for today are:

Resistance. 3 : 84.79.

Resistance. 2 : 84.62.

Resistance. 1 : 84.46.

Support. 1 : 84.25.

Support. 2 : 84.08.

Support. 3 : 83.91.


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

 

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Analysis of the Market Manipulations with EUR/USD for September 1, 2010 2010-09-01​

The markets demonstrated a positive dynamics yesterday, thus the euro ended up. Today a beginning of a new season is due, so, a fresh inflow of liquidity can become a basis for a good trend, though by far the investors fear to actively inject their funds in stock market, on the contrary, at present a massive outflow of the investors from the market is observed. Today a decrease is expected after passing certain levels.
Trading recommendations:
-Trade for breaking through the denoted levels



Performed by Alexey Portnov, Analytical expert
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Analysis of the Market Manipulations with AUD/USD for September 1, 2010 2010-09-01​

On the markets a decorrelation is observed, thus it is not a surprise that the Aussie closed neutrally as compared to other pairs. Having recoiled, the pair started to uprise amid the expected growth of the GDP data. The figures appeared above the forecasted thus the price uprose sharply. At the moment the price has stopped at the level of ask, so the decline after the break through this level can be expected or a new impulse after passing this level. By far it is hard to define the further events, though I would assume selling.
Trading recommendations:
-stay out of the market




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

 

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EUR/USD Technical Analysis. Support And Resistance Levels For September 2, 2010 2010-09-02


The EUR/USD pair was strengthening on the trading session in London, but when the US market opened and the ISM data were released, the pair decelerated till this morning, as the figures published amounted to 56.3 in August; thus, it can be stated that the factory managers have optimistic anticipations about the market sales especially during this holiday season.
The important intraday trading levels for today are:

Breakout Buy level : 1.2858.
Strong Resistance : 1.2850.
Original Resistance : 1.2838.
Inner Sell Area : 1.2825.
Target Inner Area : 1.2795.
Inner Buy Area : 1.2764.
Original Support : 1.2752.
Strong Support : 1.2739.
Breakout Sell level : 1.2732.






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

 

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USD/JPY Technical Analysis

USD/JPY Technical Analysis. Support And Resistance Levels For September 2, 2010 2010-09-02​

During the trading session in the second half of the day USD/JPY was strengthening against the US dollar, but after the closing of the market in London, the currency pair hit the Support. 3 and thereafter it unexpectedly firmed versus the US dollar and touched the profit target 10 pips to 20 pips.




The important intraday trading levels for today are:

Resistance. 3 : 84.78

Resistance. 2 : 84.61.

Resistance. 1 : 84.45.

Support. 1 : 84.24.

Support. 2 : 84.07.

Support. 3 : 83.90.


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