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GBP/USD Intraday Technical analysis 2011-01-03​

The spot rate broke through the resistance of its medium-term downtrend channel at 1.5520 resulting in an acceleration and seems to initiate a pullback on these levels before a resumption of bullish. A rebound in this area would achieve the upper limit of its channel at 1.5740.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5520 with a 1st objective of 1.5620, then 1.5660. A break in 1.5590 would invalidate this scenario.

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

 

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GOLD Intraday Technical analysis 2011-01-03​

Gold approaches the upper limit of its medium-term bullish channel at 1437 suggesting a decline in the short term. However a break of these levels would initiate 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 in 1437 with a 1st objective of 1447, then 1453. A break of 1435 would invalidate this scenario.

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

 

[BudakFx]

USD/JPY Intraday Technical analysis 2011-01-03​

The spot rate moves between its intermediate support and the upper limit of the middle term bearish channel between 80.95 and 81.35. A rupture of the upper limit of this one 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 81.35 with a 1st objective of 81.80, then 82.00. A break of 81.10 would invalidate this scenario.

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

 

[BudakFx]

USD/JPY Technical Analysis Monthly Review for January 3rd/2011 2011-01-03​

MONTHLY REVIEW :

The USD/JPY is still in the Bearish Trend. This indicates that the pair has already traded below the EMA 5 & EMA 21 and the RSI (13) has traded below the 40 line (now at 34). However if this month the USD/JPY can successfully break out and close below the 80.93 level, it will cause this pair to re-test the strong support 80.20 level.

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

 

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EUR/USD Technical Analysis Monthly Review for January 3rd/2011 2011-01-03​

MONTHLY REVIEW :

In the monthly charts the EUR/USD has formed a triangle, it means this pair will soon make a big move, nevertheles this pair is now in a ranging situation, which is indicated by the fact the EUR/USD has traded between the EMA 5 & EMA 21, and the RSI(13) value has been betwee 40 and 60 (Now at 48; it means the market in a sideways period (monthly charts). Besides the Previous Candlestick (December) has already closed within the body area of the November Candlestick. It means that the Bearish situation in November is no longer applying for this pair. so We predict this month the EUR/USD will be trading in the range between 1.2970 and 1.3497.



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

 

[BudakFx]

EUR/GBP candlestick analysis (long term view) 2011-01-03​

The EUR/GBP currency pair ended the previous week on the upside amid typical end of month purchases.
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]

USD/CHF candlestick analysis for January 3, 2011 2011-01-03​

USD/CHF candlestick analysis for January 1, 2011
The USD/CHF currency pair is continuing to reach all-time lows. The viewpoint on the currency pair is still bearish. The breakout of the support level 0.9350 targeted the USD/CHF pair to 0.9300 with 0.9250 as the next target.
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 0.9560 as the breakout of this level will target the currency pair to 0.9669.






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

 

[BudakFx]

EUR/USD Intraday Technical analysis 2011-01-04​

The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.3420. A break of this zone would allow it to reach the upper limit of its medium-term bullish channel at 1.3530.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3420 with a 1st objective of 1.3530, then 1.3580. A break in 1.3390 would invalidate this scenario.

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

 

[BudakFx]

GBP/USD Intraday Technical analysis 2011-01-04​

The spot rate is testing support through its medium-term downtrend channel at 1.5450 suggesting a rebound in the short term. However a break in this area would entail a return to the lower limit of its channel to 1.5270.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5450 with a 1st objective of 1.5570, then 1.5610. A break in 1.5420 would invalidate this scenario.

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

 

[BudakFx]

GOLD Intraday Technical analysis 2011-01-04​

Gold approaches the lower limit of its medium-term bullish channel at 1412 suggesting a rebound in the short term. However a break of this zone would free a large potential downside and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1412 with a 1st objective of 1422, then 1424. A break of 1410 would invalidate this scenario.

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