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

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

The USD/CAD is consolidating near the support level of 0.9980. If the USD/CAD breaks through 0.9980, this will lead to the further decline with the target at 0.9930.
Otherwise, the rebound to upside is expectable. If the uprising motion continues, then the breakout of the resistance level of 1.0160 will target the currency pair at 1.0385. Further, the breakthrough of 1.0385 will denote that a pullback from 1.0680 finished and further advance 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 then the breakout of 1.0680 will confirm the end of the consolidation and that the downtrend from 1.3063 is breached. In this case it is forecasted that the USD/CAD will move to the 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.




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

 

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The EUR/GBP candlestick analysis for 11/11/2010 2010-11-11​

At a daily graph the EUR/GBP pair is testing the Fibonacci correction level 50.0. In case this level is broken through we expect the decline to the support level of 0.8462, where the Fibonacci correction level is placed.
Earlier on a daily chart the EUR/GBP has formed the combination of candlesticks Bearish Engulfing, which indicates the downwards movement.
This combination of candlesticks shows that the currency pair was demonstrating the upside movement during a couple of weeks after the failure to breach the support level of 0.8067. Nonetheless, the pair reversed having come closer to 0.8950.This means that the bears activated here and the bulls could not strengthen.
The breakout of the Fibonacci correction level 38.2 and the support level of 0.8626 confirm this point of view.
It is recommended to place stop-orders 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

 

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The EUR/USD technical analysis and trading recommendations for November 11, 2010 2010-11-11​

4-hour timeframe



Overview:
The sell signal with the target at 1.3576 is still observed. This signal is strong and confirmed, as the price strengthened below the Ishimoku cloud and the Chinkou Span fixated below the price curve. The second support level of 1.3640is a first target for the price movement. In case this support level is passed the next target will be the third support level of 1.3418. Also it should be said that the correction motion can start, since the lines of the Kidjun-Sen and Tenkan-Sen strongly moved away from each other. If the price strengthens above the Kidjun-Sen (1.3945), it will denote the weakening of the sell-signal and point to cut short positions. The Chinkou Span is below the price graph, thus confirming the current sell signal. The Bollinger Bands show the downside motion, the lines are diverging and directed downwards. The MACD is ascending, thus indicating the current correction movement against the downtrend.

Trading recommendations:
Currently, it is recommended to trade down with the target at 1.3640 and further to 1.3418. The stop-loss is set above 1.3945. In case the MACD reverses downside 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

 

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The review of the US market for 11/11/2010 2010-11-11​

The US stock indices reached the positive territory on Wednesday. The Dow Jones Industrial Average rose by 10.29 points, or by 0.09% to 11357.01 points. The Standard & Poor’s 500 grew by 5.31 points, or by 0.44 points, to 1218.71 points. The Nadaq Composite edged up 15.80 points to 2578.78 points. The share quotes of Chevron were increasing all day long and increased by 1.61 dollars, or by 1.9%, to 85.17 dollars. Exxon Mobile securities rose in price by 0.50 dollars, or by 0.7%, to $71.13 amid the Government data, testifying about the further reduction of oil and fuel reserves. The stocks of financial sector also showed the strong dynamics. The quotes of Citigroup up ticked by 12 cents to 4.42 dollars, and Bank of America shares grew by 30 cents, or by 2.4%, to $12.57. J.P. Morgan papers gained by 72 cents, or by 1.8%, to $40.62. This month the oil and gas and financial sectors demonstrate the strongest dynamics after they were falling behind from other sectors during the whole year. The stocks of Boeing dropped by $2.18, or by 3.2%, to $67.07. Boeing 787 Dreamliner made an emergency landing in South Texas after the crew reported smoke in the cabin. 787 Dreamliner should have been put into service almost three years ago.
Ford Motors shares edged up 56 cents to 16.63 dollars after General Motors announced the profit in amount of $2 billion in third quarter, this is the third profitable quarter in a row The income grew by 20%.




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

 

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AUD/USD Around the psychological level of 1.0000 2010-11-11​

The Australian dollar/U.S. dollar pair managed to cross the strong psychological resistance level of 1.0000, when a couple of days after the break, the pair is back to examine the level, this time from above. Psychological level that served as resistance for a long time, now will serve as a significant level of price support. The mere fact that the pair is back to examine the level represents an attractive opportunity for the purchase, with estimated starting point 1.0500.

On the contrary, we must take into account the possibility of a new retreat and break of the psychological level, which will serve as a trigger to take short position on the pair. In this case, we may see a sharp down to the level of support of the veteran pair trend line, which passes through the price level of U.S. $ 0.9650 per Australian dollar.

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

 

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EUR/USD Intraday Technical analysis 2010-11-15​

The spot rate is currently testing the upper limit of its medium term downtrend channel at 1.3720 and seems to initiate a withdrawal. However a break in this area will release a significant potential and begin a new trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will break through its resistance at 1.3720 with a 1st objective of 1.3805, and then 1.3820. A breakout of 1.3690 will invalidate this scenario.

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

 

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GBP/USD Intraday Technical analysis 2010-11-15​

The spot rate has bounced off the lower limit of its medium-term bullish channel at 1.6060 and is currently testing the upper limit of its short term trading range at 1.6185. A break of this zone will allow it to reach the upper limit of its channel.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance at 1.6185 with a 1st objective of 1.6250, and then 1.6290. A breakthrough of 1.6160 would invalidate this scenario.

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

 

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GOLD Intraday Technical analysis 2010-11-15​

Gold is currently testing resistance through its short term bearish channel in 1370. A break of this zone will allow it to reach the upper limit of this one at 1380.

According to previous events, the market indicates a bullish opportunity since the spot rate has broken out its resistance at 1370 with a 1st objective of 1380, then 1390. A breakthrough of 1368 will invalidate this scenario.



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

 

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USD/JPY Intraday Technical analysis 2010-11-15​

The spot rate has approached the upper limit of its medium-term downtrend channel at 83.30 suggesting a decline in the short term. However a breakout in that area will release a significant potential and begin a new trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance of 83.30 with a 1st objective of 83.80, then 84.40. A breakout in 83.10 will invalidate this scenario.

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

 

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The technical analysis of the USD/CAD for 15/11/2010 2010-11-15​

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

The USD/CAD currency pair has strongly rebounded from the support level of 0.9980. In whole, the USD/CAD is continuing to consolidate near multi-month lows. If the uprising movement continues then the breakout of the resistance level of 1.0160 will target the currency pair to 1.0385. The breakthrough of 1.0385 will denote that a pullback from 1.0680 ended and further advance should be expected.
If the USD/CAD turns back and breaks through the mark of 0.9980, this will lead to the decline with a target to 0.9930.
In a midterm the consolidation from 1.0855 has not finished yet and another low is expectable. Nevertheless, in case of the turnback the breakout of 1.0680 will confirm that the consolidation is over and 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 to the Fibonacci correction level 61.8 at 1.1866.





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