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

The spot rate is currently testing resistance level through its short-term bullish channel at 83.95. A breakout of this zone will allow it to reach the upper limit of its channel to 84.10. The upside is limited in the short term.

According to previous events, the market indicates a bearish opportunity on the levels of 84.10 with a 1st objective of 83.60, then 83.40. A breakthrough of 84.30 will invalidate this scenario.

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

 

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Candlestick analysis of the GBP/USD for 26/11/2010 2010-11-26​

On a 4-hour graph the GBP/USD currency pair is continuing to decline. The viewpoint on the currency pair is bearish, as earlier the combination of candlesticks Bearish Engulfing formed; this combination indicates the decrease, confirmed further.
This combination of candlesticks appeared after the currency pair could not break through 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 presence.
The breakout of 1.5841 confirms this point of view. After a pullback the pair resumed its decline with the target to 1.5651.
In case the resistance level of 1.6096 is breached then 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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Candlestick analysis of the EUR/GBP (long-term outlook) 2010-11-26​

This week the EUR/USD is showing the downside movement after a slight pullback. However, at present the movement is limited by the support level of 0.8430-0.8450.
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 support level of 0.8535 means that this point of view is correct. Now the decline to 0.7750 should be expected.
The downwards motion is supported by the fact that this combination of candlesticks emerged near the upper limit of the downtrend, where the bulls did not manage to solidify 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 broken through, since it will denote that the downtrend is breached and the currency pair has targeted to 0.98.





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 26 2010-11-26​

4-hour timeframe



Overview:
The sell signal with the target to 1.2949 is still observed. The current signal is strong and confirmed, as the price is below the Ishimoku Cloud and the Chinkou Span is below the price graph. That is why the first target for the downside movement is the second support level of 1.3315, which the price reached but has not yet overcome. In case the second resistance level is passed the next target will be the third support level of 1.3186. The critical level below which the downside movement is presented is Kijun-Sen (1.3530), it is recommended to cut short positions above this level The Chinkou Span is below the price graph, thus confirming the current sell signal. Bollinger Bands show the continuation of downwards movement, the lines are diverging and directed down. MACD is ascending, thus showing the slight correction movement.

Trading recommendations:
Currently, it is recommended to trade down with the target to 1.3186, we enter the market only after the price fixates below 1.3315. Stop Loss is placed above 1.3530. Also in order to trade down it is necessary to wait for MACD reverses downside.

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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Ishimoku graphic chart: AUD/USD, 26.11.2010 2010-11-26​

4

Bears on the markets turned out to be stronger and continued the rate downtrend of the Australian dollar against the American one. At 4-hour graphs almost all lines of Indicator were down-directed alerting about further downward motion. Thus, Senkou-span A (1) expands the Kumo diapzon in a downward direction and Tenkan and Kidjun (3,4) came out of neutral condition and followed the bears. The price way out from Tenkan-Kidjun channel (4) means that in the nearest time bearish mood will be dominating on the market.




1

The Australian dollar run the yesterday's trading session within the hour cloud. The bulls tried to break through the upper line of the Cloud, but the luck was attended to their opponents: after rather weak trial of recovery the aussie tumbled under the Ishimoku cloud.

Tenkan and Kidjun formed a "dead cross" (5).

At this moment the hour situation remains down-going and here the Ishimoku lines are firmly down-directed (1,2,3,4). Obviously, in the nearest time the downside trend continuation should be expected.






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

 

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Candlestick analysis of the AUD/USD (long-term outlook) 2010-11-26​

Currency pair AUD/USD moves down aimed at 0.9646. On the whole, long-term outlook remains bullish as the uptrend is still taking place. However, it is recommended to close long-term positions in case of the support level 0.9646 breakout, as it gives the way to 0.9400. Earlier the AUD/USD has formed Bullish Engulfing combination on the weekly chart which is a signal to the uptrend that was proved later.
Domination of the uptrend is supported by the fact that this candlestick combination was formed on the uptrend after the rebound from the support level 0.8066 as well as from the Fibonacci correction level 38.2 where bears have failed to consolidate their position while the bulls have started to increase their influence.
This candlesticks’ combination shows that the currency pair falls after its unsuccessful attempt to break through the support level 0.9394. However, having reached 0.8066 it made a reversal. The fact that AUD/USD has successfully broken through the level 0.8855 proves this point of view.




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

 

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Technical analysis of the USD/CAD for November 29, 2010 2010-11-29​

Support levels: 1.0079, 0.9980, 0.9930
Resistance levels: 1.0266, 1.0380,1.0513

Currency pair USD/CAD shows a sideways trend on a 4-hour chart. At the moment USD/CAD is taken neutrally. As it was noted earlier the breakthrough of the line 1.0266 will drive to the upward movement with the target to 1.0380. The breakthrough of 1.0380 means that the rebound from 1.0680 is completed and further growth is expected. On the other hand, if USD/CAD continues downward movement and break down the level 1.0079 it will cause the decrease with the target 0.9980. In the midterm the consolidation with 1.0855 has not finished yet and one more low is expected. Nevertheless, if a reversal takes place the breakthrough of 1.0680 will confirm that the consolidation is over and downtrend with 1.3063 is broken. In this case, USD/CAD is expected to make an upward movement 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

 

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EUR/USD Intraday Technical analysis 2010-11-29​

The spot rate has bounced off the lower limit of its medium term downtrend channel at 1.3180 and approach to its intermediate resistance to 1.3270. A breakout of these levels will reach the upper limit of its channel to 1.3320.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance of 1.3270 with a 1st objective of 1.3320, then 1.3360. A breakthrough in 1.3250 will invalidate this scenario.




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

 

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GBP/USD Intraday Technical analysis 2010-11-29​

The spot rates approach the upper limit of its short term downtrend channel at 1.5660 suggesting a decline in the short term. However a breakout in that area would free up significant potential and begin an uptrend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance at 1.5660 with a 1st objective of 1.5740, then 1.5780. A breakout in 1.5630 will invalidate this scenario.

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

 

[BudakFx]

GOLD Intraday Technical analysis 2010-11-29​

Gold is approaching the upper limit of its long-term downtrend channel at 1372. A breakout of this area will free a significant potential and begin an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance in 1372 with a 1st objective of 1382, then 1387. A breakthrough of 1370 will invalidate this scenario.

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