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Candlestick analysis of the AUD/USD for December 28, 2010 2010-12-28​

The AUD/USD is advancing further 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]

EUR/GBP candlestick analysis (long term view) 2010-12-28​

The EUR/GBP currency pair started this week on the upside.
Nevertheless, as mentioned before, successful breakout of the support level near 0.8430-0.8450 targeted the pair to 0.8143.
The view on the currency pair remains bearish as earlier the EUR/GBP has formed a combination of Bearish Engulfing candlesticks in a downward trend.
In addition, the support level breakthrough at 0.8535 proves that this point of view is correct. Now the pair is likely to decline to 0.7750-0.7700.
The downside movement is supported by the fact that this combination of candlesticks was formed near the upper line of the downward trend where the bulls could not solidify, the bears started increasing their influence and the rollback took place.
It is worth pointing out that short positions should be closed in case of breakthrough of Fibonacci correction level 50.0, as it will mean that the downtrend is overcome and the currency pair will target to 0.98.




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

 

[BudakFx]

Candlestick analysis of the GBP/USD for December 28, 2010 2010-12-28​

On a 4-hour graph the GBP/USD is bouncing off 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

 

[BudakFx]

Candlestick analysis of the USD/CHF for December 28, 2010 2010-12-28​

On a 4-hour graph the USD/CHF is descending again after it failed to break through the support level near 0.9645-0.9669. The viewpoint on the currency pair is still bearish. As mentioned before, the breakout of the support level 0.9559 targeted the USD/CHF pair to 0.9462.
Earlier on a 4-hour graph 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 was increasing during a couple of weeks, but the rebound took place after the USD/CHF failed to break out the level of 1.0066. This means that the bulls did not manage to solidify here and the bears started increasing their influence. The downside movement is supported by the fact that the currency pair broke through the line of the uptrend.
A breakthrough of support level of 0.9850 confirms this point of view.
It is recommended to place the stop-orders slightly above 0.9669 as the breakout of this level will target the currency pair to 0.9850.





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

 

[BudakFx]

EUR/USD Technical Analysis. Support And Resistance Levels For December 29th, 2010 2010-12-29​

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3166.
Strong Resistance : 1.3158.
Original Resistance : 1.3146.
Inner Sell Area : 1.3133.
Target Inner Area : 1.3102.
Inner Buy Area : 1.3070.
Original Support : 1.3058.
Strong Support : 1.3045.
Breakout Sell level : 1.3037.
TODAY OUTLOOK :

The intraday bias of this pair still in the downtrend; at now the EUR/USD is trying to test the 1.3150 level. If the pair manages to easily break out and close today, it will cause this pair to go up to its first target at 1.3175 and the second target at 1.3200; but on the other hand if it comes back to downside again and breaks out and closes below 1.3125, it will make this pair reach its first target at 1.3100 and its second target at 1.3075.
TODAY SUGGESTION :

BUY at 1.3160; set TakeProfit between 10 pips to 20 pips.

SELL at 1.3058; set TakeProfit between 10 pips to 20 pips.


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

 

[BudakFx]

USD/JPY Technical Analysis. Support And Resistance Levels For September 29th, 2010 2010-12-29​

TODAY TECHNCIAL LEVEL :

Resistance. 3 : 82.72.
Resistance. 2 : 82.56.
Resistance. 1 : 82.40.
Support. 1 : 82.20.
Support. 2 : 82.03.
Support. 3 : 81.87.
TODAY OUTLOOK :

This pair has already traded between 82.25 and 82.50; if the USD/JPY can easily break out and close below 82.50, this situation will cause this currency to go down to 82.00, on the other hand if this pair can beak out and close above 82.50, this will make this pair to go up to 82.75. However, 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 82.57; set TakeProfit between 10 pips to 20 pips.

SELL at 82.37; set TakeProfit between 10 pips to 20 pips.

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

 

[BudakFx]

EUR/USD Intraday Technical analysis 2010-12-29​

The spot rate is currently testing the lower limit of its short-term bullish channel at 1.3090. A break of these levels would result in an acceleration toward the lower limit of its downtrend channel at 1.3015.

According to previous events, the market indicates a bearish opportunity as soon as the spot rate will have broken its support in 1.3090 with a 1st objective of 1.3015, then 1.2960. 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 2010-12-29​

The spot rate fell after testing the upper limit of its medium-term downtrend channel at 1.5510. It is now testing the lower limit of its channel to 1.5320 suggesting a rebound in the short term.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5320 with a 1st objective of 1.5410, then 1.5450. A break in 1.5290 would invalidate this scenario.

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

 

[BudakFx]

GOLD Intraday Technical analysis 2010-12-29​

Gold is approaching the resistance through its medium term bullish channel to 1414, suggesting a decline in the short term. However a break in this area would achieve the upper limit of the latter in 1451.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1414 with a 1st objective of 1425, then 1432. A break in 1412 would invalidate this scenario.

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

 

[BudakFx]

USD/JPY Intraday Technical analysis 2010-12-29​

The spot rate broke yesterday through the resistance of its medium-term downtrend channel at 82.20. A pullback to this area is expected before a resumption of bullish.

According to previous events, the market indicates a bullish opportunity on the levels of 82.20 with a 1st objective of 82.70, then 83.00. A break in 82.00 would invalidate this scenario.



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