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GOLD Intraday Technical analysis 2010-11-16​

Gold is approaching the resistance through its medium-term downtrend channel at 1373. A breakthrough of this area will release a significant potential to reach the upper limit of its channel at 1399.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken out its resistance level at 1373 with a 1st objective of 1384, then 1399. A breach of 1371 will invalidate this scenario.



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

 

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

The spot rate came to test the upper limit of its downtrend channel at 1.6085 and seems to initiate a withdrawal. However a breakout in this area will allow the pair to achieve the upper limit of its medium-term bullish channel at 1.6190.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance at 1.6085 with a 1st objective of 1.6160, then 1.6190. A break of 1.6060 would invalidate this scenario.



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

 

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

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The spot rate came to test its strength through the upper limit of its short term downtrend channel at 1.3650 and seems starting to decline. However a breakout in this area will result in acceleration towards the upper limit of its downtrend channel at 1.3710.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance level at 1.3650 with a 1st objective of 1.3710, then 1.3750. A break in 1.3630 will invalidate this scenario.








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

 

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EUR/USD Technical Analysis. Support And Resistance Levels For November 16, 2010 2010-11-16​

Today Technical Level :

Breakout Buy level : 1.3648.
Strong Resistance : 1.3640.
Original Resistance : 1.3627.
Inner Sell Area : 1.3614.
Target Inner Area : 1.3582.
Inner Buy Area : 1.3550.
Original Support : 1.3537.
Strong Support : 1.3524.
Breakout Sell level : 1.3516.

Today Outlook :

The EUR/USD still has a downwards movement. If today this pair can break out and close above the mark 1.3775, it will cancel the previous downside movement and set a new target at 1.3875 before the pair moves to 1.3900 level again. However, in case the EUR/USD still moves down and closes below the level 13475; this will indicate that the downtrend is still prevailing on this pair today and this situation will lead to the downside movement to the mark 1.3450.



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 16, 2010 2010-11-16​

Today Technical level :

Resistance. 3 : 83.55.
Resistance. 2 : 82.89.
Resistance. 1 : 83.22.
Support. 1 : 83.02.
Support. 2 : 82.85.
Support. 3 : 82.69.



Today Outlook :

After hit the mark 83.25 yesterday, it seems this currency could not continue its strengthening anymore and now the USD/JPY begins to move downwards again. Today, if the pair can easily broke through the level of 83.00 and closes below it, then the USD/JPY will set a new target at 82.75 before it moves to 82.00 in order to re-test. On the other hand, in case the USD/JPY can break out the mark 83.25 today, this pair will set a new target at 83.75 before it moves upside to the mark of 84.00. However, before this pair reaches all the target levels, it must face with today’s Resistance. 3 at 83.55, usually after hit this level, the USD/JPY turns to downside between 10 pips to 20 pips.



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

 

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The EUR/USD technical analysis and trading recommendations for November 16 2010-11-16​

4-hour timeframe



Overview:
The sell signal with a target at 1.3576 is still observed. This signal is strong and confirmed, as the Chinkou Span is below the price graph and the price is below the Ishimoku Cloud. Also the price is below the pivot level of 1.3780. Presently, the first support level of 1.3477 is a target for movement. In case this level is passed the next target will be the second support level of 1.3268. It should be said that at present the correction movement has finished. In case the price manages to fixate above the Kijun-Sen (1.3685), the sell signal will weaken and it will be a point to reduce short positions. The Chinkou Span is below the price graph, thus confirming the current sell signal. The Bollinger Bands indicate the downside motion, the lines are diverging and directed downwards. The MACD is descending, thus denoting the resumption of the downtrend.

Trading recommendations:
Currently, it is recommended trade down with the target to 1.3477 and further to 1.3268. The stop-loss is set above 1.3685. In case the MACD reverses upside the short 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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Technical analysis of the USD/CAD for 16/11/2010 2010-11-16​

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

On a 4-hour graph the USD/CAD currency pair is continuing to move sideways. Recently the USD/CAD is traded in the range between 0.9980 – 1.0160.
At present, the currency pair rebounds after it could not break through the support level of 0.9980. If the uprising movement continues then the breakout of the resistance level of 1.0160 will target the currency pair to 1.0385. Further the breakthrough of 1.0385 will mean that a pullback from 1.0680 has finished and further increase should be expected.
If the USD/CAD reverses and breaks out the level of 0.9980 it will lead to the decline with the 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 reversal the breakout of 1.0680 will confirm that the consolidation ended and that the downtrend from 1.3063 is breached.
In this case it is forecasted 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

 

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Candlestick analysis of the EUR/AUD for 16/11/2010 2010-11-16​

On a daily chart the EUR/AUD has formed the combination of candlesticks Breakaway, which indicates a bullish signal.
This combination of candlesticks appeared on the downtrend after the currency pair has reached the high of 1.5454, where the bulls did not manage to fixate and the bears started to increase their influence. However, near 1.3666 the pair rebounded.
The uprising movement is supported by the fact that this candlestick formed near September 2010 low, this may denote the formation of the “double bottom”.
The breakthrough of the Fibonacci correction level 23.6 will mean that this point of view is correct. The increase to 1.5010 is expected in case of the breakout of the major resistance level of 1.4373, where the Fibonacci correction level 38.2 is placed.
On the other hand, if the currency pair reverses and breaks through the support level of 1.3666, then long positions should be cut, as the breakout of this mark will lead to achievement of new historic lows.



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

 

[BudakFx]

GBP/AUD (Daily Strategy), November 16, 2010 2010-11-16​

Having broken through a trend-line upwards and began marking a possible reversal, the British Pound - Australian dollar pair has entered a wide range between the low of 1.58 and the high of 1.640, and is expected to continue horizontal movement in the near future. Yesterday after it approached the upper limit of the range (the level of 1.6415) the pair began indicating the possibility for a downwards movement that would take the price level back to the lower limit of the range.
A daily close below the support level of 1.6250 will signal about the downside movement, forming an entry trigger for a sell deal. That said, another trigger can be used in the case of a continued upwards movement towards 1.6500, the boundary of the range. The goal for exit from the sell deal is set near the support level representing the lower boundary of the range around 1.5900 Australian dollars per British pound.




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

 

[BudakFx]

USD/CAD (Daily Strategy), November 16, 2010 2010-11-16​

USD/CAD



The recent downwards movement of the US dollar - Canadian dollar pair has brought it down precisely to the previous low around the psychological level of 1.000. For now, this level had succeeded in breaking the pair's retreat, even forming a strong basis for the buy deals. The positive deviation on the MACD indicator and the fact that a double bottom has been formed together created a high probability for the downside movement.
The positive movement is expected to complete a similar move to that which brought the pair to its low of 1.0000, and, therefore, to ascend to the previous highs around 1.0300. Where the 200-day moving average is set. The recommended exit goal is placed at the major resistance level of 1.0275 Canadian dollars per the US dollar.








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