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[BudakFx]

USD/JPY We expect a close above 82.00, November 10, 2010 2010-11-10​

There is finally some evidence of a potential base with the market carving out a short-term double bottom on Wednesday. The break back above 82.00 neckline resistance triggers the formation and potentially exposes gains towards 84.00 over the coming sessions. However, the break of 82.00 is not enough in our opinion and we will need to see a close above the figure to really encourage reversal prospects. Inability to close above 82.00 will keep the pressure on the downside. We expect a daily close above 82.00

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

 

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The market manipulations analysis of the AUD/USD by Alexey Portnov for 10.11.2010 2010-11-10​

The Australian dollar declined to support level of 0.9995, having broken through the range. The price continued to advance after it had tested this level for the second time; this indicates the support to increase. In this case I expect the testing of these range levels
Trading recommendations:
--To buy with the target at 1.0085.



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

 

[BudakFx]

The candlestick analysis of the AUD/USD (long-term outlook) 2010-11-10​

The AUD/USD pair is pulling back after it reached new historical high last week. As it was mentioned before, the breakout of the resistance level 1.00 targeted the currency pair at 1.05.
At a week graph the AUD/USD has formed the bullish combination of candlesticks Bullish Engulfing, which indicates the uprising tendency, confirmed further.
In favor of the upwards movement comes the fact that this combination of candlesticks appeared on the uptrend after a rebound from the support level of 0.8066, as well as from the Fibonacci correction level 38.2, where the bears could not solidify and the bulls started to increase their influence.
This combination of candlesticks shows that the currency pair was decreasing after it failed to break through the resistance level of 0.9394. However, the pair reversed near 0.8066.
The fact that the AUD/USD has breached the mark of 0.8855 means that this point of view is correct.
On the other hand the long positions should be closed if the support level is broken through, as it will lead to decline to 0.8765.




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

 

[BudakFx]

The candlestick analysis of the EUR/GBP for 10/11/2010 2010-11-10​

The EUR/USD is consolidating after the successful breakout of the support level 0.8626. Nevertheless, the viewpoint is still bearish.
Earlier at a daily graph the EUR/GBP has formed the combination of candlesticks Bearish Engulfing, which indicates the downside tendency.
This combination of candlesticks shows that the currency pair was demonstrating the uprising movement during a couple of weeks after it failed to break through the support level of 0.8067. However, having come closer to 0.8950 the pair reversed. This denotes that the bears activated here and the culls did not fixate.
The breakout of the Fibonacci correction level 38.2 and support level of 0.8626 confirms this point of view. Now, the downwards motion with the target at support level of 0.8462, where the Fibonacci correction level 61.8 is placed, should be expected.
It worth to point to out that stop orders should be set slightly above 0.8821, since the breakthrough of this mark will target the EUR/GBP at 0.8950.



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

 

[BudakFx]

The technical analysis of the USD/CAD for 10/11/2010 2010-11-10​

Support levels: 0.9980, 0.9930, 0.9826
Resistance levels: 1.0100, 1.0160, 1.0385

The USD/CAD currency pair could not break through the support level of 0.9980 and rebounded to 1.01. If the uprising movement continues, then in case the level of 1.0160 is broken out the upwards motion with a target at 1.0385 is expectable. Further, the breakout of 1.0385 will denote that a pullback from 1.0680 is over and advance should be awaited. If the USD/CAD breaches the support level of 0.9980, this will lead to the decline with a target at 0.9930. However, in case the testing of this mark fails the rebound to upside should be expected.
In a midterm the consolidation from 1.0855 has not ended yet and another low is expectable. Nevertheless, in case of the reversal the breakout of 1.0680 will confirm that the consolidation finished and that the downtrend from 1.3063 is broken through. In this case we expect that the USD/CAD will move up to the Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target to the Fibonacci correction level 61.8 at 1.1866.




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

 

[BudakFx]

USD/JPY Intraday Technical analysis 2010-11-10​

The spot rate is currently testing the upper limit of its medium-term downtrend channel 81.90 and seems to initiate a withdrawal. However a break in that area would free a significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will break its resistance at 81.90 with a 1st objective of 82.60, then 82.80. A break at 81.60 would invalidate this scenario.

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

 

[BudakFx]

GOLD Intraday Technical analysis 2010-11-10​

Gold has bounced off the lower limit of its medium-term bullish channel at 1384. A return to this area presage a rebound. However a break of these levels would lead to a downward acceleration and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1384 with a 1st objective of 1403, then 1408. A break in 1381 would invalidate this scenario.

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

 

[BudakFx]

GBP/USD Intraday Technical analysis 2010-11-10​

The spot rate has bounced off the lower limit of its medium-term downtrend channel in 1.5870 and is currently testing its intermediate resistance to 1.6020. A break of this area would release a significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6020 with a 1st objective of 1.6110, then 1.6150. A break in 1.5990 would invalidate this scenario.


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

 

[BudakFx]

EUR/USD Intraday Technical analysis 2010-11-10​

The spot rate has bounced off the lower limit of its medium-term downtrend channel and 1.3740 of its approach to this intermediate resistance at 1.3800. A break of this zone would allow it to reach the upper limit of its downtrend channel at 1.3910.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3800 with a 1st objective of 1.3890, then 1.3910. A break in 1.3770 would invalidate this scenario.

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

 

[BudakFx]

USD/JPY Technical Analysis. Support And Resistance Levels For November 10, 2010 2010-11-10​

Today Technical Level :

Resistance. 3 : 82.14.
Resistance. 2 : 81.98.
Resistance. 1 : 81.81.
Support. 1 : 81.61.
Support. 2 : 81.45.
Support. 3 : 81.28.

Today Market Prediction :

After a breakout to the upside from the triangle formation yesterday, it seems the pair will try to reach 82.25 level before it goes to 82.50. Nevertheless, before that, "usually" the pair re-tests the 81.25 - 81.00 level first; if this pair after the re-test still goes down to the 80.24 level it means the upside movement of this pair ended. However, at first the USD/JPY will meet with today Support. 3 (81.28). Generally, after this level the pair reverses between 10 pips to 20 pips. Anyway, in case the level of 82.50 is not reached until tomorrow this will indicate the uprising movement for this pair finished, and before this pair goes to 82.25 it will face with today Resistance. 3 at 82.14. Usually, after hit this level the pair reverses to downside; but if this pair can break this level and moves to the 82.56 level this will indicate the strong momentum for the USD/JPY for today.

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