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Technical analysis of the USD/CAD for December 29, 2010 2010-12-29​

Support levels: 1.0000, 0.9980, 0.9930
Resistance levels: 1.0212, 1.0290, 1.0380
On a 4-hour graph the USD/CAD has dropped to support level near 0.9980-1.0000, to rebound further. Most of 2010 this level demonstrated substantial demand since Canadian companies tend to buy dollars for lower price. As mentioned before, the breakout of support level at 0.99880 will allow this pair to reach 0.9930.
Nevertheless, if a reversal takes place and the USD/CAD breaks the 1.0212 resistance level, this will lead to upside motion with the target to 1.0290. Further breakout of 1.0380 will denote the end of a rollback from 1.0680 and that further advance should be expected. Moreover, the breakthrough of 1.0380 will point to the formation of “Triple Bottom”.
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

 

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USD/CHF candlestick analysis for December 29, 2010 2010-12-29​

On a 4-hour graph the USD/CHF has successfully broken through the support level at 0.9500. The viewpoint on the currency pair is still bearish. The breakout of the support level 0.9500 targeted the USD/CHF pair to 0.9400 with 0.9350 as the next traget.
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]

AUD/USD candlestick analysis for December 29, 2010 2010-12-29​

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]

GBP/USD candlestick analysis for December 29, 2010 2010-12-29​

On a 4-hour graph the GBP/USD is still in downtrend. Earlier the pair dropped sharply after it failed to break out the resistance level of 1.5900.
As mentioned before, 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.
Nevertheless, if the resistance level at 1.5650 is broken, it is recommended to close short positions as it will lead to an increase to 1.5900.





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

 

[BudakFx]

The EUR/USD technical analysis and trading recommendations for December 29, 2010 2010-12-29​

4-hour timeframe



Overview:
Euro has been demonstrating uncertain holiday movement, thus it is recommended to refrain from trading. The sell signal has been cancelled, instead a new buy signal with target level 1.3397 has been formed. The formed signal already became stronger and weakened back. In general the Ishimoku and the Bollinger Bands are indicating that highly volatile sideways movement has begun, which is extremely dangerous for trading. The Chinkou Span fixed above the price graph, which confirms the current buy signal and shows bullish sentiment. The Bollinger bands show sideways movement, the lines are not diverging and directed sideways. The MACD is descending, thus pointing to the current downside movement.



Trading recommendations:
Currently it is not recommended to trade until the pair stabilizes or until the beginning of trend movement, which is to be indicated by the Bollinger Bands.

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

 

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USD/JPY Technical Analysis. Support And Resistance Levels ForDecember 30, 2010 2010-12-30​

TODAY TECHNICAL LEVEL :

Resistance. 3 : 81.79.
Resistance. 2 : 81.63.
Resistance. 1 : 81.47.
Support. 1 : 81.27.
Support. 2 : 81.10.
Support. 3 : 80.94.
TODAY OUTLOOK :

This pair by now has already been trading between 81.25 and 81.50 levels. If it can break out and close below 81.25, this will make the USD/JPY to go down to the mark 81.00; if today the momentum its strong enough, it will go down again to the 80.75 level. On the other hand if this pair can break out and close above 81.50, this will cause this currency to go up to 81.75, if the upside momentum is strong enough for today it will reach the mark 82.00. 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 81.91 and set TakeProfit between 10 pips to 20 pips.

SELL at 81.71 and 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 Technical Analysis. Support And Resistance Levels For December 02, 2010 2010-12-30​

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3309.
Strong Resistance : 1.3302.
Original Resistance : 1.3289.
Inner Sell Area : 1.3276.
Target Inner Area : 1.3245.
Inner Buy Area : 1.3213.
Original Support : 1.3201.
Strong Support : 1.3188.
Breakout Sell level : 1.3180
TODAY OUTLOOK :

The EUR/USD by now has already been trading between 1.3225 and 1.3250. If it can break out and close below the 1.3225 level, it will cause this currency to go down to the mark 1.3200; if today the downtrend momentum is strong enough the 1.3175 level possibly will be reached by this pair. However if the 1.3250 level is broken, this will enable this pair to go up to 1.3275, and if the upside momentum is strong enouh for today, the 1.3300 level will possibly be reached today.
TODAY SUGGESTION :

BUY at 1.3273 and set TakeProfit between 10 pips to 20 pips.

SELL at 1.3171 and 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 2010-12-30​

The spot rate is currently testing the upper limit of its short-term bullish channel at 1.3260 suggesting a decline in the short term. However a break in this area would achieve the upper limit of its channel to 1.3380.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3260 with a 1st objective of 1.3360, then 1.3380. A break in 1.3230 would invalidate this scenario.

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

 

[BudakFx]

GBP/USD Intraday Technical analysis 2010-12-30​

The spot rate has bounced off the lower limit of its medium-term downtrend channel and seems to initiate a breakdown of its short term downtrend channel at 1.5480 . A pullback on these levels is expected before a resumption of bullish.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5480 with a 1st objective of 1.5580, then 1.5620. A break in 1.5450 would invalidate this scenario.


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

 

[BudakFx]

GOLD Intraday Technical analysis 2010-12-30​

Gold is currently testing resistance through its medium term bullish channel to 1416 suggesting a decline in the short term. However a break in this area would achieve the upper limit of this one in 1451.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1416 with a 1st objective of 1426, then 1432. A break in 1414 would invalidate this scenario.

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