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The technical analysis of the USD/CAD for November 05, 2010 2010-11-05​

Support levels: 1.0000, 0.9980, 0.9930
resistance levels: 1.0160, 1.0385, 1.0680

The USD/CAD has successfully broken through the support level near 1.0050-1.0075. Now the further decline to 0.9980 should be expected. Nonetheless, if the currency pair could not break out the parity level versus the US dollar, the rebound to upwards is forecasted. If the USD/CAD breaks through the resistance level of 1.0160 and EMA (55), then the short-term outlook will be neutral. The breakout of 1.0385 will denote the end of the pullback from 1.0680 and in this case the advance is expectable. The divergence on the MACD and RSI at 4-hour graph comes in favor of this fact.
In a midterm, the consolidation from 1.0855 has not finished yet and one more low is expected. Nevertheless, in case of the reversal the breakthrough of 1.0680 will confirm the end of the consolidation and that the downside trend from 1.3063 is breached. In this case it is expected 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 at the Fibonacci correction level 61.8 at 1.1866.
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Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010

 

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The GBP/CHF candlestick analysis for 05/11/2010 2010-11-05​

At 4-hour graph the GBP/CHF currency pair has formed a combination of candlesticks Bearish Engulfing, which points to the downside movement.
The breakout of 1.5627 and Fibonacci correction level 38.2 confirms this point of view. Now the decline to 1.5541 with the next target at support level near 1.5378 should be expected.
This combination of candlesticks shows that the pair was moving upwards during several days after it failed to break the support level of 1.51. However, having come closer to 1.5964 it reversed. This denotes that the bears become active here and did not allow bulls to solidify.
It is recommended to set the stop orders slightly above 1.5825 since the breakthrough of this mark will target the pair at 1.5964.



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

 

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CAD/JPY. Signs of an upward sequence that unfolds, November 5, 2010 (Daily Signal) 2010-11-05​

Since the minimum of January 2009 until its peak in April 2010 the pair has made a retraction to the 61.8% Fibonacci.
The last low appeared around 78.70, where the pair created a simple reversal pattern of "double bottom", which combined with the positive deviation in the MACD indicator, creates an interesting opportunity for purchase.
RSI shows the buy signal. On the CAD/JPY there are observed two signs of an upward sequence that unfolds.



The mere fact that the pair has already crossed the strong resistance level of 79.80 suggests to take long position immediately with a starting point slightly below the next significant level of resistance around 82.70 and 84.50. The protection order can be placed below the yesterday intraday low around the level of 79.00 yens per Canadian dollar.





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

 

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GBP/USD Intraday Technical analysis 2010-11-05​

The pair has accelerated violently yesterday to the upper limit of its medium-term bullish channel and this seems to make a pull back on its support through to 1.6190. However a break of these levels would entail a return to the lower limit of its channel to 1.6130.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6190 with a 1st objective of 1.6260, then 1.6290. A break in 1.6160 would invalidate this scenario.

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

 

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EUR/USD Intraday Technical analysis 2010-11-05​

The spot rate came to test the upper limit of its medium-term bullish channel 1.4280 and fell. It now approaching its mid-term support to 1.4180 suggesting a rebound in the short term. However a break of this zone would result in an acceleration toward the lower limit of the latter to 1.4100.

According to previous events, the market indicates a bullish opportunity on the levels of 1.4180 with a 1st objective of 1.4260, then 1.4330. A break in 1.4150 would invalidate this scenario.

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

 

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GOLD Intraday Technical analysis 2010-11-05​

Gold is currently testing the upper limit of its medium-term bullish channel to 1394 suggesting a decline in the short term. However a break in that area would release significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1394 with a 1st objective of 1406, then 1409. A break of 1392 afterward would invalidate this scenario.

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

 

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USD/JPY Intraday Technical analysis 2010-11-05​

The spot rate is currently testing the lower limit of its short-term bullish channel 80.60 suggesting a rebound in the short term. However a break of this zone would result in an acceleration toward the lower limit of its medium-term downtrend channel at 79.95

According to previous events, the market indicates a bullish opportunity on the levels of 80.60 with a 1st of objective 81.50, then 81.80. A break in 80.40 would invalidate this scenario.

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

 

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USD/CAD about the psychological level of 1.000 , November 8, 2010 (Daily Strategy) 2010-11-08​

A sequence led the U.S. dollar - Canadian dollar back to the previous minimum area around the psychological level of 1.000. This level is a tough stand that could lead to up the pair once again. The Momentum indicator supports the investment potential and thus helps prepare for taking a long position on the pair.
The trigger for taking a stand is the resistance level of 1.0070. This level has a double meaning as it crosses the trend line that accompanies the movement of the pair in recent times. At the end of the 4-hour bar above the trigger to filter, to the extent possible, a break in vain should be expected. Upward sequence would advance all the way to the previous peak level around 1.0300. Even so, our starting point is located slightly above the resistance of 1.0270 Canadian dollars per U.S. dollar.





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

 

[BudakFx]

The USD/CAD technical analysis for November 08 2010-11-08​

Support levels: 1.0000, 0.9980, 0.9930
Resistance levels: 1.0160, 1.0385, 1.0680

The USD/CAD currency pair is continuing to move downwards. At present, the USD/CAD tests the strong support level near the parity level against the US dollar. As it was mentioned before the breakout of 1.0050 will target the pair at 0.9980. However, if the USD/CAD does not break through the parity level versus the American dollar, then a rebound to up is expected.
If the USD/CAD reverse and breaches the resistance level of 1.0160 and EMA (55), then the short term viewpoint on the currency pair will be neutral. Further, the breakthrough of 1.0385 will denote that the pullback from 1.0680 is over and the increase is expectable. In a midterm outlook the consolidation from 1.0855 has not been finished yet and another should be awaited. Nevertheless, in case if the reversal the breakout of 1.0680 will confirm the end of the consolidation as well as that the downtrend from 1.3063 is breached. In this case it is expected that the USD/CAD will move upwards to the Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1126 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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The EUR/USD technical analysis and trading recommendations for November 8, 2010 2010-11-08​

4-hour timeframe



Overview:
The buy signal with the target at 1.4188 is continuing. However the target level has been passed already and the signal weakened. As the price fixated below the Kidjun-Sen and the signal weakened, then the sell signal should be expected soon. , so the trading up is out of the question. In case the sell signal forms, the first target for the downside movement will be the first level of 1.3836. Otherwise, the current buy signal will strengthen, however it is unlikely. The Chinkou Span is above the price graph, thus confirming the current buy signal. The Bollinger Bands show the sideways movement, the lines are diverging and directed sideways. The MACD is descending, thus indicating the current downwards motion.

Trading recommendations:
Currently, it is recommended to wait for the sell signal. In case this signal is strong then the first target for the downwards movement will be the level of 1.3836.

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