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[BudakFx]

USD/JPY Technical Analysis. Support And Resistance Levels For September 30, 2010 2010-09-30​

Here is an intraday important level for this currency today :



Resistance. 3 : 84.10.

Resisatnce. 2 : 83.94.

Resistance. 1 : 83.77.

Support. 1 : 83.57.

Support. 2 : 83.41.

Support. 3 : 83.24.



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 :

Dollar weakened against the other currencies thus hitting exporter sectors in both Europe and Japan. It is expected this situation will continue. U.S. dollar fell against most major currencies, and the Dollar Index down 0,33 percent to 78,753 level. It seems that the dollar is under the pressure by the possibility that the Fed will add billions of U.S. dollars in their money market. Meanwhile in Asia, Bank of Japan is ready to intervene this caused the advance of the Japanese bonds to the highest levels in seven years.

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

 

[BudakFx]

The technical analysis of USD/CAD for 30/09/2010 2010-09-30​

Support levels: 1.0188, 1.0101, 1.0050
resistance levels: 1.0385, 1.0511,1.0569

On a 4-hour chart, the USD/CAD currency pair consolidating after it lowered to the support level of 1.0188. At present, the view on the currency pair is neutral. The fact that USD/CAD breached the resistance level of 1.0360 probably denotes that the rollback from 1.0680 is over. Nevertheless, this viewpoint will be confirmed only if the pair breaks through the mark of 1.0385. In this case, the upward movement with the target to 1.0511 is expected. The divergence of the MACD confirms the uprising movement.
However, if the pair breaks through the support level of 1.0188 this will mean that the breach of the resistance level of 1.0360 was false the downward trend to 1.0101 should be expected.
In a midterm, USD/CAD continues to move up after it formed a bottom at 0.9930. The breakthrough of 1.0680 will confirm the upward movement and that the downtrend with 1.3063 is breached. In this case, it is expected that USD/CAD will move up 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]

Candlestick analysis of the AUD/USD 2010-09-30​

The AUD/USD currency pair continues to trade up this week. Earlier on a weekly chart, AUD/USD has formed the bullish combination of candlesticks Bullish Engulfing, thus indicating the upward movement. It is expected that the pair will test the resistance level of 0.9849.
The uprising movement is confirmed by the fact that this combination of candlesticks has formed on the uptrend after it rebounded from the support level of 0.8066 and Fibonacci correctional level of 38.2, where the bulls started to increase their influence and the bears did not fixate.
This combination of candlesticks indicates that the pair was declining after failed attempt to break through the resistance level of 0.9394. However, it reversed after it moved to 0.8066.
The fact that AUD/USD has successfully breached the mark of 0.8855 means that this viewpoint is correct.
On the other hand, the long positions should be cut if the support level of 0.9000 is broken through, as it will denote that the upward trend is breached.




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

 

[BudakFx]

EUR/USD technical analysis and trading recommendations for September 30, 2010 2010-09-30​

4-our timeframe



Overview:
Buy signal with the target to 1.3064 is continuing. This signal is strong and confirmed as the price is above the Ishimoku cloud and the Chinkou Span is above the price curve. The target has been passed, however, the signs that the uprising movement is over are not observed. Alongside, the price is above the pivot level of 1.3337, which offers the next target of the movement to 1.3647 – the first resistance level. In case this level is passed the further target will be 1.3803 – the second resistance level. If the price is below the Kijun-Sen (1.3475) it will denote the weakening of the current signal and the point to reduce long positions. The Chinkou Span is above the price chart, which is a confirmation of the current buy signal. The Bollinger Bands show the upward movement, the lines are diverging and directed upside. The MACD is descending thus indicating the possible correctional movement.

Trading recommendations:
Currently, it is recommended to trade long with the target at 1.3647. Stop-loss is set below 1.3475. If the MACD reverses up we enter the market.

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

 

[BudakFx]

USD/JPY Technical Analysis. Support And Resistance Levels For October 1, 2010 2010-10-01​

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


Resistance. 3 : 83.91.

Resistance. 2 : 83.75.

Resistance. 1 : 83.58.

Support. 1 : 83.37.

Support. 2 : 83.21.

Support. 3 : 83.04.



Suggestions:
Scalping from 10 pips to 20 pips near 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 :



In August 2010, the industrial sector of Japan fell by 0.3% for the third month in a row. The cause of this decline is the weakening of the export hit by the strengthening of the Japanese yen, so that the products from Japan are less competitive on a global market, especially against products from China. The analysts expected that the export would rise by 1%. Machinery sector, iron and steel production were the main contributors to the monthly decrease. The Commerce Department now predicts the Japanese production will decline by 0.1% in September and by 2.9% in October 2010. It seems that the problems will still haunt the Japanese economy and the steps in Japan’s economic recovery are still halting and uncertain.







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

 

[BudakFx]

EUR/USD Technical Analysis. Support And Resistance Levels For October 01, 2010 2010-10-01​

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

Breakout Buy level : 1.3697.
Strong Resistance : 1.3689.
Original Resistance :1.3676.
Inner Sell Area : 1.3663.
Target Inner Area : 1.3631.
Inner Buy Area :1.3599.
Original Support : 1.3586.
Strong Support : 1.3573.
Breakout Sell level : 1.3562

Market Outlook :

Budget deficits of European countries are growing now. Spain's debt ratings are expected to be cut by one to two levels, and Portugal now is under the pressure in the debt market. As a result of failing to tackle the budget deficit, Portugal came under pressure to sell its bonds. In addition, there is other problem in Portugal; the opposition put pressure on the present government to cancel planned tax increase in the country starting next year.

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

 

[BudakFx]

EUR/USD technical analysis and trading recommendations for October 1, 2010 2010-10-01​

4-hour timeframe



Overview:
The price advances steadily. Buy signal with the target to 1.3064 continues. This signal is strong and confirmed as the price managed to fixate above the Ishimoku cloud and the Chinkou Span is above the price curve. The target level has been passed already, however the signs that the upward movement is over are not observed. Alongside, the price is above the pivot level of 1.3337, which offers the next target of the movement to 1.3647 – the first resistance level. In case this level is passed the further target will be 1.3803 – the second resistance level. If the price is below the Kijun-Sen (1.3525) it will denote the weakening of the current signal and the point to reduce long positions. The Chinkou Span is above the price chart, which is a confirmation of the current buy signal. The Bollinger Bands show the upward movement. The MACD is descending; nevertheless, the price continues to increase.

Trading recommendations:
Currently, it is recommended to trade long with the target to 1.3803. Stop-loss is set below 1.3525.

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

 

[BudakFx]

USD/CHF technical analysis and trading recommendations for October 1 2010-10-01​

4-hour timeframe



Overview:
Sell signal with the target to 0.9781 is continuing. However, yesterday this signal weakened as the price fixated above the Kijun-Sen. To continue trading it is recommended to wait for the strengthening of the current sell signal, in particular when the price is below the Kijun-Sen. In whole the signal is confirmed and strong as the price is below the Ishimoku cloud and the Chinkou Span is below the price curve. The downside movement is more preferable now. It should be mentioned that the price is under the pivot level of 0.9911 and next target for the downtrend is the first support level of 0.9704. In case the price rebounds from this level, the side way trend or correction may happen. If the price breaks through this support level, we will have next target for movement to 0.9573. The Chinkou Span is below the price curve, thus confirming the bearish sentiment. The Bollinger Bands show the downward movement, the lines are diverging and directed downside. The MACD is ascending thus indicating the correctional movement.

Trading recommendations:
Currently, it is recommended to trade short with the target to 0.9702. Stop-loss is set above 0.9795. If the MACD reverses up, we enter the market with 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

 

[BudakFx]

Candlestick analysis of NZD/USD for October 1, 2010 2010-10-01​

NZD/USD currency pair has not breached the resistance level near 0.7415.
Earlier on a daily chart, NZD/USD has formed the combination of candlesticks Breakaway, thus signaling about the downward motion. This candlestick formed near the resistance level of 0.7414, where the bulls did not manage to fixate and the bulls became active.
The breakthrough of Fibonacci correctional movement of 23.6 will confirm this viewpoint. In this case, the downside movement to the support level of 0.7159 should be expected. The breach of this mark will lead to the downtrend with the target to 0.6947. However, it can limited by Fibonacci correctional level of 50.0 near 0.7000.
It is recommended to set stop orders slightly above 0.7415 as the breakthrough of this resistance level will set new target to 0.7450 for the currency pair.




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

 

[BudakFx]

USD/SEK candlestick analysis for 01/10/2010 2010-10-01​

USD/SEK continues to trade down. Earlier on a 4-hour chart, USD/SEK has formed the combination of candlesticks Bearish Engulfing, thus signaling the downside movement. This candlestick shaped after the currency pair rolled back to the upper limit of the downtrend. However, near 6.9240 the bears stared to increase their influence.
The further decline confirms this viewpoint. The breakthrough of 6.7472 will set a target to 6.4420 for the currency pair.
It should be mentioned if the resistance level of 6.9240 is breached, then short positions should be cut as it will denote the breakthrough of the downside trend.




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