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Technical analysis of the USD/CAD for December 27, 2010 2010-12-27​

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 descending after it failed to break through the resistance level of 1.0212. If the downside movement extends, the pair is expected to bounce up near strong support level of 1.0000.
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 1.0290, this will lead to upside motion with the target to 1.0380. Further 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 of 1.0680 will confirm that the consolidation ended and that the downtrend with 1.3063 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

 

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

The AUD/USD has slightly rebounded after it successfully broke the resistance level near 1.0024. Now upside movement targeted for this year’s high 1.0182 should be expected.
Earlier on a daily chart the AUD/USD has formed the combination of candlesticks Bullish Engulfing which indicates the uprising movement, confirmed further.
This combination of candlesticks developed near the support level of 0.9537, where the bulls started to increase their influence and a rebound took place after a downside movement. This combination of candlesticks provided a good opportunity to open long positions.
A breakthrough of the resistance level of 0.9710 means that this point of view is correct.
However, in case the reversal takes place and the AUD/USD breaks through the support level of 0.9710, then long positions should be closed, as it will lead to the further decline to 0.9537. 





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

 

[BudakFx]

The EUR/USD technical analysis and trading recommendations for December 27, 2010 2010-12-27​

4-hour timeframe



Overview:
The pair is extending its downside movement with frequent corrections, which has probably turned into sideways movement. The formed sell signal has target level of 1.2966. This signal is strong and confirmed since the Chinkou Span fixed below the price graph and the price managed to fixate below the Ishimoku cloud. But, as mentioned before, correction movement is continuing, therefore it is not recommended to trade down until it ends. In addition the price fixated below the Kijun-Sen, which weakened the current signal; therefore it is not recommended to trade yet. The first target for the downside movement is 1.3047 – the first support level. If the first support level is passed the next target will be the second support level of 1.2907. The Chinkou Span is below the price graph, thus confirming the current sell signal and indicating the bearish sentiment. The Bollinger bands show either possible completion of the downwards movement or a prolonged correction, the lines are not diverging and directed sideways. It is recommended to resume trading after the lines start to diverge again. The MACD is ascending, thus pointing to the current correction movement.
Trading recommendations:
Currently it is recommended to trade down with the target to 1.3047, in case this level is passed the target will be 1.2907. Stop Loss should be placed above 1.3127. Short positions should be opened only if the MACD reverses down, Bollinger bands start to diverge and the Kijun-Sen is passed.


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 white bars in the indicators window.



Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

USD/JPY Technical Analysis. Support And Resistance Levels For December 28th, 2010 2010-12-28​

TODAY TECHNICAL LEVEL :

Resistance. 3 : 83.07.
Resistance. 2 : 82.91.
Resistance. 1 : 82.74.
Support. 1 : 82.54.
Support. 2 : 82.38.
Support. 3 : 82.21.
TODAY OUTLOOK :

Today the USD/JPY has already been trading between 82.50 and 82.75; if the pair manages to break out and close above 82.75, it will try to go up to the first target at 83.00 and the second target at 83.25 if the upside momentum is strong enough; on the other hand if the pair can break out and close below 82.50, this will cause it to go up to 82.25 as its first target and 82.00 as its second target. However, please pay attention to today’s Resistance. 3 and today’s Support. 3, usually after reaching one of these levels the USD/JPY will 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 if this pair can close above 82.88 set TakeProfit between 10 pips to 20 pips

SELL if this pair can close below 82.68 set TakeProfit between 10 pips to 20 pips.



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

 

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EUR/USD Intraday Technical analysis 2010-12-28​

The spot rate is currently testing resistance through its medium-term downtrend channel at 1.3270. A break of this zone would allow it to reach the upper limit of this one to 1.3390.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1.3270 with a 1st target of 1.3360, then 1.3390. A breakout of 1.3240 would invalidate this scenario.

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 28th, 2010 2010-12-28​

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3298.
Strong Resistance : 1.3290.
Original Resistance : 1.3277.
Inner Sell Area : 1.3264.
Target Inner Area : 1.3233.
Inner Buy Area : 1.3201.
Original Support : 1.3189.
Strong Support : 1.3176.
Breakout Sell level : 1.3168.
TODAY OUTLOOK :

In the early morning the EUR/USD broke out and closed above the 1.3175 level; recently this pair has stopped and has been trapped betwen 1.3225 and 1.3250; if it manages to break out and close below the 1.3225 level, this will denote that it will advance to its first target at .3200 and its second target at 1.3075; on the other hand if this pair can break out and close above 1.3250, this will cause this pair to go up to 1.3275 as its first target and 1.3300 as its second target.
TODAY SUGGESTION :

BUY at 1.3213 and set TakeProfit between 10 pips to 20 pips.

SELL at 1.3111 and set TakeProfit between 10 pips to 20 pips.



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

 

[BudakFx]

GBP/USD Intraday Technical analysis 2010-12-28​

Since yesterday the spot rate has been testing the upper limit of its medium-term bullish channel at 1.5490 and seems to be starting to decline. A break of these levels would free up significant potential and begin a more violent upward trend .

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1.5490 with a 1st objective of 1.5560, then 1.5580. A break of 1.5460 would invalidate this scenario.

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

 

[BudakFx]

GOLD Intraday Technical analysis 2010-12-28​

This morning gold has broken resistance through its medium term bullish channel to 1389 and seems to be making a pullback on this area before a resumption of bullish.

According to previous events, the market indicates a bullish opportunity on the levels of 1389 with a 1st objective of 1397, then 1402. A break of 1387 would invalidate this scenario.



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

 

[BudakFx]

USD/JPY Intraday Technical analysis 2010-12-28​

The spot rates approach the upper limit of its medium-term downtrend channel 83.10. A break 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 83.10 with a 1st objective of 83.50, then 83.90. A break of 82.90 would invalidate this scenario.

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

 

[BudakFx]

Technical analysis of the USD/CAD for December 2, 2010 2010-12-28​

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 moving further to the parity level after it failed to break through the resistance level of 1.0212. However, the pair is expected to bounce up near strong support level of 1.0000 that is also a bottom of a broader range.
Nevertheless, if a reversal takes place and the USD/CAD breaks the 1.0290 resistance level, this will lead to upside motion with the target to 1.0380. Further 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 the 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 of 1.0680 will confirm that the consolidation ended and that the downtrend with 1.3063 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