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Candlestick analysis of the USD/CHF for December 17 2010-12-17​

On a 4-hour graph the USD/CHF currency pair declined further after a pullback. The viewpoint on the currency pair is still bearish, since earlier the USD/CHF has formed the combination of candlesticks Falling Three Methods, which indicates the downside movement.
This combination of candlesticks shows that the USD/CHF demonstrated the uprising motion during a couple of weeks, but the pair rebounded after it failed to break through the level of 1.0066. This means that the bulls did not manage to fixate here and the bears started increasing their influence. The downside movement is supported by the fact that the pair has broken through the line of uprising trend.
A breakthrough of support level of 0.9850 means that this point of view is correct. The breakout of 0.9547 will target the currency pair to 0.9462.
It is recommended to place the stop orders slightly above 0.9736, as the breakout of this level will target the pair to 0.9850.




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

 

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GOLD Intraday Technical analysis 2010-12-17​

Gold has bounced off the lower limit of its short term downtrend channel at 1361 and is approaching its intermediate resistance to 1377. A breakot of this area would free a significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1377 with a 1st objective of 1388, then 1397. A breakthrough of 1375 would invalidate this scenario.

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

 

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GBP/USD Intraday Technical analysis 2010-12-17​

The spot rate has bounced off the lower limit of its bullish channel and is currently testing its horizontal resistance level at 1.5650. A breakthrough of this zone would allow the pair to reach the upper limit of its short term downtrend channel at 1.5800.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance of 1.5650 with a 1st objective of 1.5740, then 1.5800. A breakout in 1.5620 will change the observed situation.

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

 

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EUR/USD Intraday Technical analysis 2010-12-17​

The spot rate is currently testing the resistance level through its medium-term bullish channel at 1.3330 suggesting a decline in the short term. However a breakout in that area would free up significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance of 1.3330 with a 1st objective of 1.3390, then 1.3430. A breakthrough of 1.3310 would invalidate this scenario.

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

 

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EUR/USD Intraday Technical analysis 2010-12-20​

The spot rate has bounced off the lower limit of its medium-term downtrend channel and is currently testing its intermediate resistance at 1.3200. A breakout of this area would release a significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3200 with a 1st objective of 1.3270, then 1.3340. A breakthrough of 1.3170 would invalidate this scenario.

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

 

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GBP/USD Intraday Technical analysis 2010-12-20​

The spot rate is currently testing the resistance level through its medium-term downtrend channel at 1.5560. A breakthrough of this zone would allow the pair to reach the upper limit of this channel at 1.5620.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5560 with a 1st objective of 1.5620, then 1.5650. A breakout of 1.5540 will change the observed situation.

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

 

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GOLD Intraday Technical analysis 2010-12-20​

Gold has broken this morning strength through its medium-term downtrend channel at 1381 leading to an acceleration. A pullback to this area is feasible in the short term.

According to previous events, the market indicates a bullish opportunity on the levels of 1381 with a 1st objective of 1392, then 1397. A breakthrough of 1379 would invalidate this scenario.


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

 

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USD/JPY Intraday Technical analysis 2010-12-20​

The spot rate approaches the upper limit of its medium-term downtrend channel at 84.20. A breakthrough of this area would free a significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 84.20 with a 1st objective of 84.70, then 85.10. A breakout of 84.00 will change the observed situation.


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

 

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EUR/USD Technical Analysis. Support And Resistance Levels For December 20, 2010 2010-12-20​

TODAY TECHNICAL LEVEL :

Breakout Buy level: 1.3193.
Strong Resistance: 1.3185.
Original Resistance: 1.3173.
Inner Sell Area: 1.3160.
Target Inner Area: 1.3128.
Inner Buy Area: 1.3097.
Original Support: 1.3085.
Strong Support: 1.3072.
Breakout Sell level: 1.3064
TODAY OUTLOOK :

Today this pair is traded in a range between 1.3125 and 1.3175. The pair will be traded in a downtrend situation, but it seems that today this pair will try to re-test the level of 1.3200, especially if the EUR/USD can break out and close above the 1.3175. On the other hand, if this pair breaks through and closes below the 1.3125 level, then the pair will probably move down to the mark of 1.3100. In case the downtrend momentum is strong enough, then the pair will probably reach the 1.2975 level.
TODAY SUGGESTION :

BUY at 1.3216. Take-profit is set between 10 pips to 20 pips.

SELL at 1.3114. Take-profit is set between 10 pips to 20 pips.



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

 

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USD/JPY Technical Analysis. Support And Resistance Levels For December 20, 2010 2010-12-20​

TODAY TECHNICAL LEVEL :

Resistance. 3 : 84.31.
Resistance. 2 : 84.14.
Resistance. 1 : 83.98.
Support. 1 : 83.77.
Support. 2 : 83.61.
Support. 3 : 83.44
TODAY OUTLOOK :

The USD/JPY is now trapped between the levels 83.68 and 84.10. However, if this pair can break out close below the level of 83.68, then the USD/JPY will try to reach the 83.50 level as a first target and the 83.25 level as a second target. In the other hand, if this pair breaks through and closes above 84.10, the pair will move upside to 84.25 as a first target and to 84.50 as a second target. Nevertheless, please pay attention to today’s Resistance. 3 and today Support. 3, usually after reaching one of these levels the USD/JPY reverses between 10 pips to 20 pips. If the pair after reaches one of these levels still goes more than 50 pips in the chosen direction, then this will denote that the USD/JPY has found its tendency for today.



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