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USD/JPY Intraday Technical analysis 2010-11-25​

The spot rate is now testing the support level through its medium-term bullish channel at 83.40 and seems to initiate a rebound. However a breakout of this zone will result in an acceleration toward the lower limit of its channel to 82.80.

According to previous events, the market indicates a bullish opportunity on the levels of 83.40 with a 1st objective of 83.90, then 84.10. A breakthrough of 83.20 will invalidate this scenario.

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

 

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Technical analysis of the USD/CAD for 25/11/2010 2010-11-25​

Support levels: 0.9980, 0.9930, 0.9820
Resistance levels: 1.0263, 1.0385,1.0513

On a 4-hour graph the USD/CAD currency pair is declining again after it bounced off the resistance level 1.0263. As of now, the outlook remains bearish. As it was mentioned before, the breakout of 1.0385 will lead to the uprising movement with the target to 1.0385. The breakthrough of 1.0385 will denote that a pullback from 1.0680 is over and further growth should be expected.
On the other side, if the USD/CAD continues to move downside and break down the level of 0.9980, it will lead to decrease with a target to 0.9930.
In a midterm the consolidation from 1.0855 has not ended yet and another low should be expected. Nevertheless, in case of the reversal the breakthrough of 1.0680 will confirm the end of consolidation and that the downtrend from 1.3063 is breached. In this case it is expected that the USD/CAD moves upside to the Fibonacci correction level 38.2 from 1.3063 to 0.9928 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/GBP (long-term outlook) 2010-11-25​

This week the EUR/USD is demonstrating the downside movement after a slight pullback. The outlook is still bearish, as earlier the EUR/GBP has formed the combination of candlesticks Bearish Engulfing on the downtrend. Moreover, the breakout of the support level of 0.8535 confirms this point of view. Now the decrease to 0.7750 should be expected.
The downwards movement is supported by the fact that this combination of candlesticks developed near the upper limit of the downtrend, where the bulls did not manage to solidify and the bears started increasing 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 downtrend is broken out and the currency pair is targeted to 0.98.



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

 

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Candlestick analysis of the GBP/USD for 25/11/2010 2010-11-25​

On a 4-hour graph the GBP/USD pair is continuing to move downside. The outlook is still bearish, since the pair formed the combination of candlestick Bearish Engulfing that indicates the downwards motion, which was confirmed further.
This combination of candlesticks emerged after the pair could not breakout the resistance level near 1.6085-1.6096, which means that the bulls did not manage to solidify here. Further the bears started to increase their influence.
The breakthrough of 1.5841 confirms this point of view. After a rollback the pair resumed the decline with the target to 1.5651.
However, in case the resistance level of 1.6096 is breached the short positions should be closed, as it will lead to advance to 1.6175.




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 25 2010-11-25​

4-hour timeframe



Overview:
The sell signal had cancelled and new buy signal formed, but since it arose in flat we do not have the final target, and the signal is most probably false. Bollinger bands indicate the flat; in this case until sideways movement is observed the Ishimoku may form a lot of false signals. Consequently, it is needed to wait for the beginning of trend movement, about which Bollinger bands will signal. In case Bollinger bands diverge upside the first target will be the second resistance level of 1.0128 and the buy signal will be confirmed. The Chinkou Span is above the price graph, thus pointing to the bullish sentiment. Bollinger Bands show the sideways movement, the lines are directed sideways and converged, thus indicating the flat and probable change in direction. MACD is ascending, which denotes the uprising movement within the sideways range.

Trading recommendations:
Currently, it is recommended to wait for the divergence of Bollinger bands that will denote the beginning of trend movement. It is not recommended to trade until the flat is observed.

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 US stock market review for 24/11/2010 2010-11-25​

On Wednesday the US stock indices grew amid the positive macroeconomic data. American investors are preparing for holiday season, buying the shares of retail sector that recovered their positions lost on Tuesday. At the end of trading Dow Jones Industrial Average rose by 150.91 points, or by 1.37%, to 11187.28, after it fell by 142 points on Tuesday. Standard & Poor’s soared by 17.62 points, or by 1.49%, to 1198.35, and Nasdaq Composite index gained 48.17 points, or 1.93%, to 2543.12. The US markets will be closed on Thursday and opened only for half a day on Friday.
Amazon.com shares reached new historical high, having showed the advance by $9.05, or by 5.4%, to $177.25 ahead of gift buying season. Oracle papers edged up 55 cents, or 2%, to $27.74. Court awarded Oracle a 1.3 billion dollars judgment against SAP AG because of intellectual-property theft. SAP shares lost 62 cents, or 1.3%, to $48.07. American depositary shares of UBS surged by 5 cents or by 0.32%, to $15.82 after the trustee recovering money for victims of Bernard Madoff’s Ponzi scheme accused the bank of active participation in the fraud and demanded 2 billion dollars.
The stocks of consumer and industry sectors led the growth on Wednesday after the latest data showed that the consumer were more optimistic regarding spending. The Reuters/University of Michigan consumer sentiment index rose to 71.6 in November versus October reading of 67.7. The number of initial jobless claims for a week November 20 fell by more than expected, having reached the lowest level since July 2008.
Meanwhile, the US consumer income was growing at faster paces than for the most part of the year. Consumer spending increased. However, the durable goods orders showed the sharpest decline in almost two years, and new home sales dropped for the fourth time in the last six months.




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

 

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EUR/JPY, November 24, 2010 (Daily Strategy) 2010-11-25​

After a sharp downwards movement inspired by the Irish debt crisis and the tensions in Korea, the Euro/Yen pair, its fall is braked by the support level of 110.50, is expected to recover that may return it to its previous high of 114.50 Yens per one Euro.
Since the pair is currently trading around the middle range between the 110.50 support level and the 112.00 resistance level, it is best to make the entry into a buy deal conditional on a retreat towards the level of 112.70 or a breach of the level 112.00. The exit goal maybe position relatively to the meaningful resistance level around 114.80.



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

 

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EUR/USD Intraday Technical analysis 2010-11-26​

The spot rate fell after it having tested the upper limit of its medium-term downtrend channel at 1.3460. A look back at the lower limit of this channel to 1.3270 points to a rebound in the short term.

According to previous events, the market indicates a bullish opportunity on the levels of 1.3270 with a 1st objective of 1.3350, then 1.3380. A breakthrough in 1.3240 will invalidate this scenario.


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

 

[BudakFx]

GBP/USD Intraday Technical analysis 2010-11-26​

The spot rate is currently testing the lower limit of its medium-term downtrend channel at 1.5705 and seems to start a rebound. However a breakout of these levels will lead to a downward acceleration and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5705 with a 1st objective of 1.5780, then 1.5805. A breakthrough of 1.5680 will invalidate this scenario.


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

 

[BudakFx]

GOLD Intraday Technical analysis 2010-11-26​

Gold is currently testing the lower limit of its medium-term bullish channel at 1367 suggesting a rebound in the short term. However a break of this zone will free a large potential downside trend and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1367 with a 1st objective of 1376, then 1381. A breakthrough in 1365 will invalidate this scenario.


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