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Technical Analysis and Trading Recommendations for the EUR/USD for November 15. 2010-11-15​

4-



General picture:
The sell signal continues going on with the target to 1,3576. This signal is approved and firm, as Chinkou-span is below the price chart, and the price - below Ishimoku cloud. The price is also below the pivot level of 1,3789. That is why at this moment the price target is the first support level of 1,3497. In case of overcoming this support level the next target will be the second support level at 1,3277. Worth pointing out that presently an up-going correction takes place, that is shown by MACD, however, it seems to come to an end, as the price did not solidify above Kijun-sen. In case of price fixation above Kijun-sen (1,3780), the sell signal will weaken and will come as a signal for cutting short positions. Chinkou-span is below the price chart that means a confirmation of the current sell signal. The Bollinger bands demonstrate a downtrend, the lines are expanding to the downside, that means a downward tendency. MACD is rising that points to a current correctional movement.
Trading Recommendations:
In the present situation it is recommended to stake on a downtrend with the target at 1,3497. Stop Loss should be set above 1,3780. It is better to enter the market after MACD turning to the downside.

Apart from the technical picture, the fundamental data and the release time should be taken into account.

Picture Explanations:
Ishimoku indicator:
Tenkan-sen – red line
Kijun-sen – blue line

Senkou-span A– light brown dashed line
Senkou-span B – light-violet dashed line
–
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
Red line and the hystogram with white bars in the indicators window


Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

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The candlestick analysis of the EUR/GBP (long-term outlook) 2010-11-15​

By the end of the week the EUR/GBP closed with a strong decline, having successfully broken through the support level of 0.8535. The viewpoint on the currency pair is still bearish, since the EUR/GBP has formed the combination of candlesticks Bearish Engulfing on the downside trend.
As it was mentioned before, the breakout of the support level of 0.8535 will mean that this point of view is correct. In this case the decline to 0.7750 should be expected.
In favor of the downtrend comes the fact that this combination of candlesticks appeared near the upper limit of the downtrend, where the bulls did not manage to fixate and the bears started to increase their influence and a rebound took place.
It is recommended to close short positions in case the Fibonacci correction level 50.0 is breached, as it will mean that the downside trend is broken out and the currency pair is targeted at 0.98.





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

 

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EUR/USD Technical Analysis. Support and Resistance Levels For November 15, 2010 2010-11-15​

Breakout Buy level : 1.3773.
Strong Resistance : 1.3765.
Original Resistance : 1.3752.
Inner Sell Area : 1.3739.
Target Inner Area : 1.3706.
Inner Buy Area : 1.3673.
Original Support : 1.3660.
Strong Support : 1.3647.
Breakout Sell level : 1.3639.

After a breakout from 1.3685, this pair now tries to reach a new target at 1.3625. If this level is easily broken through by this pair today, then there is a possibility for this pair to set a new target at 1.3525 before it goes to 1.3500. However, be careful of the retracement to re-test the level of 1.3750 again.

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

 

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USD/JPY Technical analysis, Support and Resistance Levels for November 15, 2010 2010-11-15​

Resistance. 3 : 83.00.
Resistance. 2 : 82.83.
Resistance. 1 : 82.67.
Support. 1 : 82.47.
Support. 2 : 82.31.
Support. 3 : 82.14.

After the USD/JPY broke through the mark of 82.75 it tries to reach a new target at 83.25, but before it moves to that level, this pair will meet with today Resistance. 3 at 83.00. Usually after hit this level the USD/JPY will reverse to downside between 10 pips to 20 pips, but if the pair after hit that level still goes up to the level of 83.44 this will indicate that the US Dollar strengthens against the Yen today.

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

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The candlestick analysis of the USD/SEK for 15/11/2010 2010-11-15​

Earlier on a 4-hour graph the USD/SEK has formed Shooting Star candlestick that indicates the downside movement, confirmed further.
This candlestick appeared after the currency pair could not break through the level of 6.8937, which means that the bulls did not manage to fixate here. Further, the bears started to increase their influence.
A breakout of the Fibonacci correction level 23.6 confirms this viewpoint. Now the decline to the support level of 6.7012 with the next target to 6.6419 is expectable.
However, it should be said that if the resistance level of 6.8937 is broken through, then short positions should be closed, as it will lead to the increase to 7.0870.





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

 

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The USD/CHF technical analysis and trading recommendations for November 15 2010-11-15​

4-hour timeframe



Overview:
The buy signal with a target to 0.9854 is continuing. This signal is strong and confirmed, as the price strengthened above the Ishimoku cloud and the Chinkou Span managed to fixate above the price chart. Also the price has reached and overcome the first resistance level of 0.9823. That is why the first target for the uprising movement is the second resistance level of 0.9905. In case the price manages to fixate above this level, the next target will be the third resistance level of 1.0023. If the price is below the Kijun-Sen (0.9730), then the current buy signal will weaken and it is recommended to cut long positions. The Chinkou Span is above the price graph, thus confirming the current buy signal. The Bollinger Bands indicates the continuation of the uprising motion, as the lines are diverging and directed upside. The MACD is ascending, thus denoting the current uptrend.

Trading recommendations:
Currently, it is recommended to trade up with the target to 0.9905 and further to 1.0023. The stop-loss is set below the Kijun-Sen – 0.9730. In case the MACD reverses downside the long positions should be cut.

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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GOLD The technical analysis shows that there is a potential continuation of the correction. November 15, 2010 (Daily Signal) 2010-11-15​

GOLD



Having reached its historic high of $1424 per ounce, gold began to decline slightly, as a part of the correction of the recent upward movement. The table of technical analysis shows that there is a potential that the correction will continue. It should be noted that after gold has broken through its immediate trend line, it fell all the way to test it from below but could not get through. In addition, you can clearly discern the negative deviation on the MACD indicator, which provides the skeptics with the compelling arguments.
It is forecasted that gold will continue to fall to its previous low, around $1315. The short positions should be maintained near the support level of 1330. The "long" may find the purchase price around 1310 to 1315, as a sequence of the bearish potential.







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

 

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AUD/NZD Around the strong level of support 1,2700. November 15, 2010 (Daily Signal) 2010-11-15​

The Australian dollar/New Zealand dollar pair has broken through the strong support level of 1.2700 and thus effectively created an interesting opportunity to purchase. There are higher chances that the pair will continue its stagnation, which began some time ago, and complete the upward wave toward the upper range of stagnation, at least about 1.2860.
It is forecasted that the pair will try to test the previous high of 1.2960 and continue to move to the resistance level of 1.3000.
On the contrary, we must take into account the possibility of breakthrough of the support level at 1.2700, indicating an opportunity to take a short position with potential bearish, though low levels of support from NZ $ 1.2250 Australian dollar.



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

 

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USD/JPY Intraday Technical analysis 2010-11-16​

Since yesterday the spot rate has been testing the upper limit of its medium-term downtrend channel at 83.30, suggesting a decline in the short term. However, a breakthrough of that area will free up a significant potential.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken out its resistance in 83.30 with a 1st objective of 83.80, then 84.40. A breakthrough of 83.10 will invalidate this scenario.



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

 

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Graphical technique of Ishimoku: AUD/USD, 16.11.2010 2010-11-16​

H4

Yesterday's trading session on the Australian dollar market took place in a sideward range. Despite that the day started from a sharp movement the bears did not manage to cut the rate below 0.9815. However, the bulls also nestled against the resistance - Senkou Span B holds its positions and does not let the bulls go inside the Ishimoku cloud.

Meanwhile, the general situation on the market has already started changing in favour of bears - Anticipatory lines (1, 2) crossed and in near time the character of the Cloud. At this moment the recovery is interfered by the Rotation line (3) which strictly down-directed. If it is broken through upwards then during today's session a price upturn is possible to the Standard line (4), but then the downtrend will continue. If the bulls have no enough force for entering the Tenkan-Kijun channel (3,4) then the lowering can be continued from the current levels.





H1

A sidehead existence on the market is clearly seen at the time graphs - ll indicator lines are directed horizontally (1, 2, 3, 4). Amid this the bulls are trying to break through inward the Ishimoku indicator from the downside. Amid this the support is obtained only from the "Golden Cross" (5) formed yesterday formed by Tenkan and Kijun lines, as Chinkou Span crossed the candlestick graph in a sideward direction.

Possibly, the bull-spirited players will take one more shot to the revival, but bearing in mind the bears force such variant is low probable. Very much so that the downward tendency will be extended from the current levels.

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Performed by Vadim Idrisov, Analytical expert
InstaForex Companies Group © 2007-2010