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USD/JPY Intraday Technical analysis 2010-11-30​

The spot rate is currently testing the lower limit of its medium-term bullish channel at 84.00 suggesting a rebound in the short term. However a breakthrough in this area will lead to the beginning of a downward trend.

According to previous events, the market indicates a bullish opportunity on the levels of 84.00 with a 1st objective of 84.50, then 84.80. A break in 83.80 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 30/11/2010 2010-11-30​

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

On a 4-hour graph the USD/CAD again rebounded from the resistance level of 1.0266. Nevertheless, the rollback was limited by EMA (55), which probably points to dominancy of bulls. At present, the viewpoint is neutral. As it was mentioned before, the breakout of 1.0266 will lead to the upside movement with a target to 1.0380. Further, the breakthrough of 1.0380 will mean that the rollback from 1.0680 is over and the growth should be expected.
On the other hand, if the USD/CAD continues to decrease and breaks through the level of 1.0079, then this will lead to falling with the target to 0.9980, where the rebound to up is expectable. In a midterm the consolidation from 1.0855 has not ended yet and another low is awaited. However, in case of the reversal 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 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

 

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USD/JPY Technical analysis, Support and Resistance Levels for November 30, 2010 2010-11-30​

Today Technical Level :

Resistance. 3 : 83.94.
Resistance. 2 : 83.78.
Resistance. 1 : 83.61.
Support. 1 : 83.41.
Support. 2 : 83.24.
Support. 3 : 83.72.

Today Outlook :

The USD/JPY is still biased within the uptrend, especially in a mid-term.






However today, if this pair wants to strengthen its uptrend movement it must break up the mark of 84.50, in this case such situation will allow pair to reach the level of 84.75 before it goes to 85.00 (if the momentum to up its strong). Anyway, if the USD/JPY breaks down the level of 84.00 it will allow this pair to move to the mark 83.75. In case this pair has a strong downtrend momentum then the USD/JPY probably reach the mark of 83.50.
Please pay attention to today’s Resistance. 3 and Support.3; usually if the USD/JPY reaches these levels it reverses between 10 pips to 20 pips. But if this pair after hit one of these levels still goes until 50 pips, it will indicate that the pair has found its way.







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

 

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EUR/USD Technical Analysis. Support and Resistance Levels For November 30, 2010 2010-11-30​

Today Technical Level :

Breakout Buy level : 1.3180.
Strong Resistance : 1.3172.
Original Resistance : 1.3160.
Inner Sell Area : 1.3147.
Target Inner Area : 1.3116.
Inner Buy Area : 1.3084.
Original Support : 1.3072.
Strong Support : 1.3059.
Breakout Sell level : 1.3051.

Today Outlook :

The EUR/USD is still moving in the downtrend. It seems the situation between North and South Korea worsens; one of the reason is the USA will take a joint training task force with the South Korean troop. Nevertheless, the EUR/USD is still traded within the range between 1.3125 and 1.3075. In case today the EUR/USD can strengthen above the mark 1.3125; there is a possibility that this pair will move to the level of 1.3150 and/or to 1.3180. However, if today the EUR/USD can break down the level of 1.3062 and especially the Breakout Sell level at 1.3051, then this will be a clear signal for this pair today.

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

 

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Candlestick analysis of the EUR/GBP for 30/11/2010 2010-11-30​

On a daily chart the EUR/GBP is again testing the support level near 0.8423. The viewpoint is still bearish, as the downtrend is observed. As it was mentioned earlier, in case the level of 0.8423 is broken out we forecast the decrease to support level of 0.82.
Earlier on a daily graph the EUR/GBP has formed the combination of candlesticks Bearish Engulfing that indicates the downside movement.
This combination of candlesticks shows that the currency pair was increasing during a couple of weeks after it failed to breach the support level of 0.8067. However, the pair reversed having come closer to 0.8950. This means that the bears activated here and did not allow bears to strengthen.
The breakthrough of the Fibonacci correction level 38.2 and support level of 0.8626 confirms this point of view.
It is recommended to place the stop orders slightly above 0.8600, as the breakout of this level will target the pair to 0.8821.




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

 

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Candlestick analysis of the USD/NOK for November 30, 2010 2010-11-30​

Earlier on a 4-hour graph the USD/NOK formed Shooting Star candlestick that indicates the downside movement.
This candlestick has developed after the pair could not break through the level of 6.2164, which means that the bulls did not manage to solidify here. Further the bears started to increase their influence.
A breakout of the Fibonacci correction level 23.6 will denote that this point of view is correct. In this case the decline to support level of 6.000 with the next target to 5.9337 should be expected.
However, it should be mentioned if the resistance level of 6.2164 is broken through then short positions should be closed, since it will lead to advance to 6.3656.





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

 

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EUR/USD technical analysis and trading recommendations for November 30 2010-11-30​

4-hour timeframe



Overview:
The sell signal with the target to 1.2949 is still presented. The current signal is strong and confirmed as the price managed to fixate below the Ishimoku Cloud and the Chinkou Span is below the price graph. In this case the first target for the downside motion is the second support level of 1.2824. The Kijun-Sen (1.3230) is the critical level below which the downwards tendency is still observed, 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 the downtrend, the lines are diverging and directed down. MACD is descending, thus pointing to the current downwards motion.

Trading recommendations:
Currently it is recommended to trade down with a target to 1.3033 and further to 1.2824. Stop Loss is placed above 1.3230.

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 29/11/2010 2010-11-30​

Monday the US stock indices declined as the investors were concerned that the aid package to Ireland in amount of $112.61 would not be enough to contain the Euro-zone debt crisis. At the end of trading the Dow Jones Industrial Average decreased by 39.51 points, or by 0.36%, to 11052.49 points. The Nasdaq Composite fell by 9.34 points, or by 0.37%, to 2525.22 points, and the Standard & Poor’s 500 plunged by 1.64 points, or by 0.14%, to 1187.76 points. Hewlett-Packard shares fell in price by 1.4% after Gartner Inc. cut its forecast for world-wide personal computer shipments for 2010. International Business Machines stocks edged lower by 0.7%.
Amazon.com shares rose by 1.3% and reached the record high during the session; the analysts expect that the company will increase its market share in the current holiday shopping season. This optimism appeared came on hopes for “Cyber Monday” after good result of “Black Friday” that may result in more favorable holiday season then last year. Nevertheless, the majority of other retailers stocks fell in price. Nordstorm shares shed by 2.4%, Best Buy dropped by 3%, and Macy’s lost 2.2%. The strongest decrease was marked in the consumer-discretionary and technology sectors; however the financial, energy and materials sectors ended the day in the positive territory after a rebound at the end of the day. This recovery happened after the Dow had been declining by more than 160 points earlier in the session, since the investors started realizing that these levels are of interest. Being at Monday lows, the stocks were trading at levels that have not been observed since October, until midterm elections and the Federal Reserve System statement about the measures in amount of $600 dollars. Investors were still worried about the Euro-zone debt situation even after on Sunday Europe reached the agreement to pay Ireland a 67.5 billion Euros aid package. Taking into account Ireland’s own contributions, the sources of which are state’s treasury and pension-reserve fund, the bailout package is 85 billion Euros. There are also worries that Portugal and Spain will also need the help to refinance their debts. This anxiety promoted the falling of the euro, whereas the cost of insuring the Spain and Portugal’s debt against the default was increasing. The European Commission said that the weakness of global markets and government efforts to decrease the deficit would lead to “gradual and arther unsteady” economic recovery in 27 Euro-zone countries.




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

 

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GBP/USD. Continuation of the downwards movement, November 30, 2010 2010-11-30​

GBP/USD

Due to concerns over the European debt crisis, the British pound/ US dollar pair dove sharply from its previous highs of 1.6300 and to its present levels around 1.5550. The likelihood for a trend reversal or at the very least a technical correction have risen sharply after the pair was braked by the strong support level of 1.1550 US dollars for one British pound.

Although it is possible to enter a buy deal even now, a daily close over the support level will add confidence to the upwards movement. On the other hand, one must be careful regarding the possibility for continued negative momentum. In the case of a final breach at 1.5480 will produce a signal for a position reversal and move to a sell deal on the pair with an exit goal around the next support level around 1.5250 US dollars per one British pound.



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

 

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EUR/USD Intraday Technical analysis 2010-12-01​

The spot rate has bounced off the lower limit of its medium term downtrend channel at 1.2970 and approached its intermediate resistance at 1.3095. A breakout of these levels will allow the pair to reach the upper limit of its channel at 1.3180.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3095 with a 1st objective of 1.3180, then 1.3200. A breakthpugh in 1.3070 will change the situation.



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