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[BudakFx]

Gas Review for September 17, 2010 2010-09-20​

Natural gas futures closed slightly up amid the profit fixation after a 5-day ascend.
According to the results of the NYMEX the October futures for gas decreased by 3.8 or by 0.9% to $4.024 per btu. October futures ended above the level of 4 USD on Thursday for the first time since August 24, which lead to partial closing of the long positions with the target of the profit fixation.




The market states that high natural-gas reserves are also exerting the pressure on the prices. The EIA reports that the reserves of the natural gas last week reached 3.267 trillion cu ft, which is by 6.2% more than the average 5-year value. The natural gas extraction remains high even in the conditions of the market congestion, which increases the fears concerning that the gas inventories will be at the record highs for an extended period of time.
Nevertheless, the futures upturned from an 11-month peak hit in August. The analysts state, that the reverse was caused by the expectations of the demand growth in the winter time. Usually, the gas futures reach their minimum in August – September.
The tropical storm had no impact on the energetic infrastructure of the USA in the Gulf of Mexico. The hurricane Karl came upon the Mexican coastline on Friday and continued its advance westwards, though it did not influence the US natural gas extraction. It is expected that the hurricanes Igor and Julia will also have no effect on the gas production and will move to the north of the country.



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

 

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The US stock market for 20/09/2010 2010-09-21​

On Monday, the US stock indices closed up amid the positive earnings reports of companies that increased the confidence in the economic recovery. Dow Jones Industrial Average rose by 145.77 points or by 1.37% to 10753.62 points, the highest closing level from May 13. Nadaq Composite advanced by 40.22 points or by 1.74% to 2355.8 points, having showed the growth for the ninth session in a row. Standard&Poor’s 500 lifted by 17.12 points or by 1.52% to 1142.71 points.
The shares of the financial companies have become the growth leaders after the report of Discover Financial Services pointed to improvement of the tendency on the lending market. Discovers shares hiked by 59 cents or by 3.8% to 16.16 dollars. The securities of American Express rose in price by 1.75 dollars or by 4.2% to 43.12 dollars. J.P. Morgan Chase stocks surged by 1.13 dollars or by 2.8% to 41.19 dollars, and the shares of the Bank of America soared in price by 34 cents to 13.74 dollars.
The companies’ stocks of consumer goods sector also have been the growth leaders amid the rising confidence in the economic recovery. The advance on the stock market on Monday has accelerated after the National Bureau of economic research announced the recession, which has started in December 2007, came to its end in June 2009. The securities of the housing sector companies went up in price before the week when the labor market data are published. The share quotations of Lennar ticked up by 1.15 dollars or by 8.2% to 15.14 dollars. In the third quarter, the company restored the yield, and its profit has exceeded Wall-Street expectations. Home Depot quotes increased by 76 cents or by 2.5% to 30.65.




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

 

[BudakFx]

USD/JPY Technical Analysis. Support And Resistance Levels For September 21, 2010 2010-09-21​

Here is an intraday important trading level for this pair today :

Resistance. 3 : 86.07.

Resistance. 2 : 85.90.

Resistance. 1 : 85.73.

Support. 1 : 85.52.

Support. 2 : 85.35.

Support. 3 : 85.18.



Suggestions:

Scalping from 10 pips to 20 pips near 184.47 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 positions beforehand.

Market Outlook :

The dollar continues to rise against the yen. Fears connected with the interventions of the Bank of Japan are strong enouch to decrease market volatility, the speculators do not stake on buying back the yen amid an effort to maintain the rate of deflation.

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

 

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EUR/USD Technical Analysis. Support And Resistance Levels For September 21, 2010 2010-09-21​

Here is an intraday important trading level for this pair today :

Breakout Buy level : 1.3126.
Strong Resistance : 1.3118.
Original Resistance :1.3105 .
Inner Sell Area : 1.3092.
Target Inner Area : 1.3061.
Inner Buy Area : 1.3030 .
Original Support : 1.3017.
Strong Support : 1.3004.
Breakout Sell level : 12996.

Market Outlook :

Dollar weakens against the euro for a second day amid expectation that a weakening global recovery will reduce the demand for dollars. Moreover, many market participants are still pessimistic, having forecasted the Fed will cut its economic growth outlook. According to the analysts, the Fed will still hold interest rates in the long term. But the economic conditions in Europe, which is still unstable, must be taken into account.


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

 

[BudakFx]

GBP/USD technical analysis and trading recommendations for September 21, 2010 2010-09-21​

4-hour timeframe



Overview
As expected, buy signal is continuing. This signal is strong and confirmed as the price managed to fixate above the Ishimoku Cloud and the Chinkou Span strengthened above the price curve. However, yesterday the signal has weakened since the price fixed below the Kijun-Sen. Alongside, the price is above the pivot level of 1.5568, which offers the next target of the movement at 1.5789 – the first resistance level. In order to continue long trading it is needed to wait for the price fixation above Kijun-Sen that will strengthen the current signal. If such consolidation does not happen then it is recommended to wait for sell signal. The Chinkou Span is above the price chart, which is a confirmation of the current buy signal. The Bollinger Bands show the downward movement, the lines are diverging and directed downside. The MACD is descending thus demonstrating the current correctional movement.


Trading recommendations:
Currently, it is recommended to trade long with the target at 1.5789. Stop-loss is set below 1.5585. The moment to enter the market is after the MACD reverses upwards and price is fixed above the Kijun-Sen.


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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The copper review for 21/09/2010 2010-09-22​

Copper futures closed on the downside on Tuesday after that the market did not manage to hold the won positions above 3,5 dollar/pound amid the economic uncertainty. By the end of the deals on COMEX copper futures with December delivery reduced by 2,35 cents or 0,7% to 3.481 dollar/pound. The biggest part of the session the copper was trading in a sideward trend, as the traders did not take a chance to open big positions before the publication of the US FRS statement later this Tuesday, and also potential signs of metal demand lowering in the developing countries.
The recent growth on the copper market has led to disputes about if the current prices really reflect the global economic recovery or not. The December contract price exceeded the mark of 3.50 dollar/bushel for the first time since April, but afterwards, a small rollback took place.
The FRS statement publication resulted in the price upturn from the day mnimum, as the FRS gave a sign that it is ready to take additional measures of quantitative easing, if it is necessary that has impacted the dollar negatively. The greenback weakening often lends support to copper prices, turning them down for the consumers using other currencies.
Earlier copper futures rose after the Commerce Department of the USA reported that the new house construction of the USA ticked up in August to 598 000. The analysts forecasted that the indicator will amount to 550 000 last month. The copper is sensitive to such news as this metal is widely used in the construction.



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

 

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The US stock market review for 21/09/2010 2010-09-22​

Dow Jones Industrial Average increased by 7.41 points or by 0.07% to 10761.00 points, having closed at the highest level since May 2010. Nasdaq Composite went down by 6.48 points or by 0.3% to 2349.35 points. Standard & Poor’s 500 index declined by 2.93 points to 1139.78 points. This is the first falling of the index for three days and strongest drop in two weeks. However, compared to the beginning of September the index still shows the growth by 8.6%.
Caterpillar shares that rose in price by $1.64 or by 2.2% to $76.39 supported the growth. Hewlett-Packard papers advanced by 53 cents or by 1.4% to $39.92, and Intel stocks went up by 21 cents or by 1.1% to $19.14. The quotations of Legg Mason fell by 90 cents to $29.98, and Morgan Stanley securities dropped by 78 cents or by 2.9% to $26.06.
Following the results of one-day meeting the FRS did not announce the additional measures aimed to support the recovery. However, some representatives of the Central bank are worried by the low inflationary levels, observed recently, and announce they are ready to take the extra measures to stimulate the economic revival.




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

 

[BudakFx]

The technical analysis of USD/CAD for 23/09/2010 2010-09-23​

Support levels: 1.0188, 1.0101, 1.0050
Resustance levels: 1.0360, 1.0511,1.0569

After USD/CAD pair declined below the support level of 1.0212 it bounced back to the resistance level of 1.0360. Nevertheless, the view on the currency pair remains bearish, as the downside trend takes place. In case the mark 1.0188 is broken through with the target at 1.0101, where the upside hike is expected.
If the currency pair breaks through the resistance level of 1.0360, it will mean that the downside trend is overcome and that we should wait for growth to 1.0511.
In a midterm, the USD/CAD pair continues the upward movement after forming a bottom at 0.9930. A breakthrough of 1.0680 will confirm the upward trend as well as the downward trend with 1.3063 is broken though. In this case, it is expected that the USD/CAD pair will move up to Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1123 with the next target at Fibonacci correction level 61.8 at 1.1866.



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

 

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Candlestick analysis of USD/CHF for 23/09/2010 2010-09-23​

Earlier at 4-hour chart, the USD/CHF currency pair has developed a Hammer candlestick, which is signaling about an upward tendency.
This candlestick indicates the decline of the currency pair during a couple of weeks, but it bounced back after it did not break through the mark 0.9838. This means the bears did not manage to fixate and the bulls became active.
If the USD/CHF breaks through Fibonacci correctional level of 23.6, it will mean that this viewpoint is a correct one. The breach of the resistance level of 1.0138 and Fibonacci correctional level of 38.2 means the pair has targeted to 1.0230-1.0240, where Fibonacci correctional level of 50.0 is placed.
Stop orders are advisable to set below 0.9838 because the breakout of this mark will mean the pair has aim of 0.9636.



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

 

[BudakFx]

AUD/USD candlestick analysis for 23/09/2010 2010-09-23​

At 4-hour chart, the AUD/USD pair strengthens after it reached a two-year high. The breach of 0.9467 set a target at 0.9842 for AUD/USD pair.
Earlier at 4-hour chart, this pair has formed a combination of candlesticks Morning Stars thus signaling the uprising movement.
The combination of candlesticks has developed near 0.8770, where the bulls have become stronger and rollback happened after falling. The ascend is also shown by that the Morning Star is located next to the lower limit of the upward trend (daily chart).
It is recommended to place the stop orders near 0.9250 as the breaking through of this mark will denote the uptrend is overcome.




Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-201