Technical Analysis from www.Instaforex.com

[BudakFx]

Technical analysis of the USD/CAD for December 23 2010-12-23​

Support levels: 1.0000, 0.9980, 0.9930
Resistance levels: 1.0212, 1.0290, 1.0380

On a 4-hour graph the USD/CAD is rolling back after it failed to break through the resistance level of 1.0212. However, EMA (55) may support the pair. Earlier the USD/CAD has rebounded from the support level of 1.0000, which is a bottom of a wide trading range.
The uprising movement is confirmed by the fact that on a 4-hour chart the MACD divergence appeared. As it was mentioned before, if the USD/CAD breaks out 1.0259, then this will lead to upside motion with the target to 1.0380. Further the breakout of 1.0380 will denote the end of a rollback and that further advance should be expected. Moreover, the breakthrough of 1.0380 will point to the formation of “Triple Bottom”.
Nevertheless, the breakout of the support level near 0.9980-1.0000 will allow the pair to reach 0.9930.
In a midterm the currency pair will probably remain within the limits of its wide range between 1.0000 and 1.0750-1.0850. Nonetheless, in case the reversal takes place, then the breakout will confirm that the consolidation ended and that the downtrend is broken through. In this case it is expected that the USD/CAD will move upside 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

 

[BudakFx]

The market manipulations analysis of the AUD/USD by Alexey Portnov for December 23 2010-12-23​

Against expectations, the Australian dollar reached new highs, the parity level is passed. Now I expect the movements against the trend, I will mark only the strong support levels: on the chart I marked the range which further will be supported by strong demand. The growth may stop only because of the American statistics for today.
Market recommendations:
-Outside of the market




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

 

[BudakFx]

The USD/CHF technical analysis and trading recommendations for December 23, 2010 2010-12-23​

4-hour timeframe



Overview:
It seems that franc started downside movement. New sell signal with 0.9423 target leve has been formed. The signal is strong and confirmed, as the Chinkou Span managed to fixate below the price chart and the price fixed below the Ichimoku Cloud. Therefore, now the first target of the downside movement is the second support level 0.9408. In case this level is passed the next target will be the third support level of 0.9255. The downside movement remains until the price is below the Kijun-Sen (0.9610), if the price fixates above this line it is advisable to cut short positions. The Chinkou Span is below the price curve, thus indicating the bearish sentiment and confirming the sell signal. The Bollinger Bands seem to show the beginning of downside trend, the lines are diverging and directed down. The MACD is descending indicating the downward movement.
Trading recommendations:
Currently it is recommended to trade down with the target to 0.9408, in case this level is passed the next target will be 0.9255. Stop Loss should be placed above the Kijun-Sen (0.9610). In case the MACD reverses up short positions should be cut manually.


In addition to technical image, one should take into account the fundamental data and the time of their release.



The chart annotation:
Ichimoku 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

 

[BudakFx]

USD/JPY Technical Support Resistance for December 27th/2010 2010-12-27​

TODAY TECHNICAL LEVEL :

Resistance. 3 : 83.36.
Resistance. 2 : 83.20.
Resistance. 1 : 83.03.
Support. 1 : 82.83.
Support. 2 : 82.67.
Support. 3 : 82.50.
TODAY OUTLOOK :

By the moment this pair has already been trading in the range between 82.75 and 83.00; if the pair manages to break out and close below 82.75, it will try to reach 82.50 as a first target and 82.25 as a second target, on the other hand, if this pair can break through and close above the 83.00 mark, this will cause this currency to advance to 83.25 as a first target and 83.50 as a second target. Please pay attention to today’s Resistance. 3 and today’s Support. 3, usually after reaching one of these levels the USD/JPY reverses between 10 pips to 20 pips. If the pair reaches one of these levels and still goes more than 50 pips in the chosen direction, this will denote that the USD/JPY has found its tendency for today.
TODAY RECOMENDATION :

BUY at 82.50 (Support. 3) and set Take profit for 10 pips to 20 pips.

SELL at 83.36 (Resistance. 3) and set Take profit for 10 pips to 20 pips.



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

 

[BudakFx]

EUR/USD Technical Support & Resistance for December 27th/2010 2010-12-27​

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3172.
Strong Resistance : 1.3164.
Original Resistance : 1.3152.
Inner Sell Area : 1.3139.
Target Inner Area : 1.3108.
Inner Buy Area : 1.3076.
Original Support : 1.3064.
Strong Support : 1.3051.
Breakout Sell level : 1.3043.
TODAY OUTLOOK :

This pair has been trading between the 1.3075 and the 1.3125 levels. In case it can break out and close below the 1.3075 level, this will lead the EUR/USD to go down to 1.3050 as a first target and 1.3025 as a second target. On the other hand, if this pair can break through and close above 1.3125, this situation will cause this currency to advance to 1.3150 as a first target and 1.3175 as a second target. However, please be careful for the low volatility during the The New Year Holidays.
TODAY SUGESSTION :

Just BUY and SELL between the Inner Fibonacci Envelope or Breakout from their BUY & SELL Level.



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

 

[BudakFx]

EUR/USD Intraday Technical analysis 2010-12-27​

The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.3150. A break of this area would 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 will have broken its resistance in 1.3150 with a 1st objective of 1.3210, then 1.3260. A break in 1.3120 would invalidate this scenario.

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

 

[BudakFx]

GBP/USD Intraday Technical analysis 2010-12-27​

The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.5460 suggesting a decline in the short term. A break of this zone would allow it to reach the upper limit of its short-term bullish channel at 1.5510.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5460 with a 1st objective of 1.5510, then 1.5570. A break in 1.5430 would invalidate this scenario.

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

 

[BudakFx]

GOLD Intraday Technical analysis 2010-12-27​

Gold is currently testing resistance through its channel bearish medium term to 1389. A break of this zone would allow it to reach the upper limit of this channel in 1407.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1389 with a 1st objective of 1399, then 1407. A break in 1387 would invalidate this scenario.


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

 

[BudakFx]

USD/JPY Intraday Technical analysis 2010-12-27​

The spot rate broke its support to 82.85 this morning, resulting in an acceleration. A pullback on these levels is expected before a resumption of bearish.

According to previous events, the market indicates a bearish opportunity on the levels of 82.85 with a 1st objective of 82.40, then 82.20. A break in 83.10 would invalidate this scenario.

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

 

[BudakFx]

Candlestick analysis of the GBP/USD for December 27, 2010 2010-12-27​

On a 4-hour graph the GBP/USD is consolidating after a drop to 1.5355. Nevertheless, the viewpoint on this pair is still bearish as the downtrend still remains. Earlier the pair dropped sharply after it failed to break out the resistance level of 1.5900.
Earlier on a 4-hour graph the GBP/USD formed the combination of candlesticks Bearish Engulfing which indicates the decline, confirmed further.
This combination of candlesticks developed after the currency pair could not break through the resistance level near 1.6085-1.6096, which means that the bulls did not solidify here. Further the bears started increasing their influence.
A breakthrough of 1.5841 means that this point of view is correct.




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