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Candlestick analysis of the NZD/USD for December 7 2010-12-07​

The NZD/USD pair is pulling back after it broke out the resistance level of 0.7630.
Earlier on a 4-hour graph the NZD/USD has formed the combination of candlesticks Bullish Engulfing, which indicates the uprising movement.
This combination of candlesticks developed after the currency pair failed to break through the support level of 0.7400, which means that the bears did not fixate here and the bulls started to increase their influence.
A breakout of the Fibonacci correction level 38.2 and resistance level of 0.7630 confirms this viewpoint. Now the uprising movement to the Fibonacci correction level 61.8 with the next target to 0.7835 should be expected.
It is recommended to place the stop orders slightly below 0.7400, since the breakthrough of this support level will target the pair to 0.7150-0.7200.




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

 

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Technical analysis of the USD/CAD for December 07, 2010 2010-12-07​

Support levels: 1.0000, 0.9980, 0.9930
Resistance levels: 1.0079, 1.0290, 1.0380

On a 4-hour graph the USD/CAD rebounded after it again could not break through the support level near 0.9980-1.0000. The levels near the parity served as a good support, last month the USD/CAD did not manage to break through the parity level. Nevertheless, this week the pair will probably break out this level. At present, the viewpoint is neutral, since the USD/CAD came back to the range of 0.9980-1.0079. If the pair reverses then the breakthrough of 1.0290 will lead to uprising movement with the target to 1.0380. The breakout of 1.0380 will mean that the pullback from 1.0680 ended and further growth should be expected. In a midterm the currency pair will probably remain within the limits of its wide range between 1.0000 and 1.0750-1.0850. However, in case of the reversal the breakout of 1.0680 will confirm the end of consolidation and that the downtrend from 1.3063 is breached. In this case it is predicted that the USD/CAD will move upside to the Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.112 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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The EUR/USD technical analysis and trading recommendations for December 7, 2010 2010-12-07​

4-hour timeframe



Overview:
The buy signal with the target to 1.3451 is still presented. The current signal is confirmed, but weak, as the price is in the Ishimoku cloud and the Chinkou Span managed to fixate above the price graph. So, it is not recommended to trade up until the current signal strengthens. If the price strengthens above the Ishimoku cloud then the first target for uprising movement will be the first resistance level of 1.3577. In case the price breaks through this level, then the next target will be the second resistance level of 1.3742. The Kijun-Sen (1.3190) is the critical level above which the uprising movement maintains, below this level it is recommended to cut long positions. It is worth pointing out that the downside movement can be resumed in the nearest time, if the current movement turns out to be a deep correction. The Chinkou Span is above the price graph, thus confirming the current buy signal. The Bollinger bands show the upside motion, the lines are diverging and directed up. The MACD is ascending, pointing to the current upwards tendency; however, the upper limit of the Ishimoku cloud is not passed.

Trading recommendations:
Currently it is recommended to wait until the price strengthens above the Ishimoku cloud and then to trade up with the target to 1.3577 and further to 1.3742. Stop Loss is placed below 1.3190. In case the MACD reverses down, this will denote the beginning of the correction.

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 market manipulations analysis of the GBP/USD by Alexey Portnov for 07/12/2010 2010-12-07​

As it was forecasted the pound continued to advance after correction. Now the price approached the strong resistance level of 1.5775, from which the correction will probably start. In case this level is broken through, the strong advance will start. I expect the second scenario will take place, but the price should strengthen above the 1.5775 level. As yet the price will consolidate under this level.
Trading recommendations:
-If you were opening long positions I recommend closing a half of them. If the 1.5575 level is passed, to buy again.



Performed by Alexey Portnov, Analytical expert
InstaForex Companies Group © 2007-2010

 

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EUR/USD. We Expect a Break In The Trend Line, December 07, 2010 (Daily Strategy) 2010-12-07​

The likelihood for forming a bottom on the EUR/USD pair rose significantly last Friday, after an impressive leap by the pair and a weekly close around the level of 1.3430. One may enter a buy deal on the pair even at its present values, although perhaps it is preferable to make the entry conditional on a breaching of the trend line formed by the weekly close.

A breaching of the trend line around 1.3425 will confirm the positive momentum on the pair, with the intermediary goal for exit from the buy deal set around the resistance level of 1.3950.

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

 

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AUD/USD, Upwards Movement, December 07, 2010 (Daily Strategy) 2010-12-07​

After a correction straight towards the meaningful support level of 0.9600, the likelihood of the beginning of a new wave of upwards movement that will push the pair to new highs is stronger than ever. The improvement in investor sentiment is definitely likely to support the pair, which is expected, from a technical perspective, to move upwards, towards the 1.0450 and 1.0600 levels at the very least.

An entry into a buy position can be timed for the possibility of a light downwards correction towards the nearest 0.9780 support level,



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

 

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EUR/USD Intraday Technical analysis 2010-12-14​

The spot rate has bounced off the lower limit of the bullish channel and subsequently broke his intermediate resistance at 1.3390. A pullback is expected before a resumption of an upward movement.

According to previous events, the market indicates a bullish opportunity on the levels of 1.3390 with a 1st objective of 1.3460, then 1.3530. A breakthrough of 1.3370 would change the observed situation.

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

 

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GBP/USD Intraday Technical analysis 2010-12-14​

The spot rate is currently testing the upper limit of its medium-term bullish channel at 1.5900 suggesting a decline in the short term. However a breakout of this area would accelerate and initiate a bullish uptrend more violent.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1.5900 with a 1st objective of 1.5960, then 1.6000. A breakthrough of 1.5880 would invalidate this scenario.

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

 

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GOLD Intraday Technical analysis 2010-12-14​

Gold has broken the upper limit of its trading range at 1399 resulting in an acceleration. A pullback appears to begin before a resumption of bullish trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1399 with a 1st objective of 1411, then 1418. A breakout of 1397 will change the observed situation.


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

 

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USD/JPY Intraday Technical analysis 2010-12-14​

The spot rate is starting a rebound on the lower limit of its short term downtrend channel at 83.20. The pair is now approaching its intermediate resistance level at 83.90. A breakthrough of this zone would allow the pait to achieve its resistance level at 84.40.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 83.90 with a 1st objective of 84.40, then 84.70. A breakout of 83.70 would invalidate this scenario.

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