GBP/USD: Weekly Technical Levels for October 31 -- November 4, 2011.

Technical analysis

Mourad El Keddani

 

Weekly Technical Levels:

Tip (s):

R3 and S3 are good indication for the maximum range for extremely volatile days but can be exceeded occasionally.
Pivot lines work well in sideways markets as prices will most likely range between the R1 and S1 line.
In a strong trend, price will be low through a pivot point line and keep going.
If there is significant news to influence the market price may go straight through R1 or S1 and reach even R2 & R3 or S2 & S3.

Time Frame: H1.

Drag your Fibonacci retracement levels from the lower to the higher of the last week (24th - 28th of October, 2011) in order to determine low and high price.
Average = (Higher - Lower) / 2
Average = 1.6021

• Range was: 262 pips (upward).
• The value of 50% Fibonacci retracement levels is: 1.6021
• 1.5835 will be formed a new support.
• 1.6300 will be formed a new resistance.
• Volatility is 419.80 so the market has called for a high volatile.
• It should be noted that the price has still been trapped between 1.59 and 1.615.
  

  Observation (s):

• If the strength of the trend for pair is an uptrend, then the strength of the currency: GBP is an uptrend and USD is a downtrend.
• Most of traders use the Fibonacci retracement to determine accurate psychology level of support and resistance.
• Volatility Formulas: Variation = Average * (Higher - Lower).
  
  http://instaforex.com/forex_analysis/42661/?x=OUE

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GBP/JPY Elliott wave count and Fibonacci levels for October 28, 2011

Wave analysis

Roman Molodiashin

GBP/JPY is developing impulse wave C (colored light green in the chart) of medium term uptrend from 116.91. Within this wave there are three subwaves (colored royal blue in the chart), and potential subwave C is still developing from 119.93. Within the latter wave there also three waves (colored magenta in the chart) with subwave C developing from 120.62. The targets of the upmove are Fibonacci retracements of 130.81-116.78, and expansions off 116.78-120.78-116.91, 116.91-122.58-119.93, 119.93-122.04-120.62, 120.62-122.01-121.06.
Resistances:
- 122.45 = objective point (OP)
- 122.73 = OP
- 123.31-38-43 = confluence area of expanded objective points (XOP) and contracted objective point (COP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 120.62-122.45, 121.06-122.45.
Supports:
- 121.76-75 = .50 and .382 retracements
- 121.59-54 = .618 and .50 retracements
- 121.39 = .618 ret

Overbought/Oversold
Assuming that the major wave is now up it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (30-45 pips below the current prices).
http://instaforex.com/forex_analysis/42575/?x=OUE

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GBP/USD Intraday Forecast for October 27, 2011.

Forecast

Mourad El Keddani

 

Pivot Point: 1.5967.

Time Frame: Daily and H4.

Overview:

The GBP/USD broke the resistance at 1.5837 and turned back to support last week. Therefore the pair has already formed a strong support at 1.5837 on H4 and daily chart, Aswell after breaking 38.2% and start signing for bullish market on this level, it should be noted that the price has been set above 38.2% of Fibonacci retracement levels and the price couldn't close below the support last week since 21^st of October 2011. Futhermore, the RSI has still positive on the daily frame, so it calls for a new upleg. Then, according to previous events, the pair has still been trapped between 1.5837 and 1.6041. For that it is a good sign to buy above 1.5900 with a first target of 1.6075, and continue towards 1.6190 (61.8% of Fibonacci retracement levels on daily chart and it also should be noted that the resistance 3: 1.6194). Meanwhile, if the support (1.5837) breaks and closure below it on H4, it will also a good sign to sell at 1.5837 with a target of 1.5700.

Trading Recommendations:

According to previous events, the price has still been trapped between 38.2% of Fibonacci retracement and 50%.
Long Buying:

• Buy above 1.5900 with a first target of 1.6075, it might resume to 1.6184.

Short Selling:

• Outlook -1-: Swing trade at 1.6200 in order to sell with a traget of 1.6118.
• Outlook -2-: Below 1.5837 look for further downside with 1.5750 and 1.5700 targets.

Intraday Technical Levels:

R3:1.6194
R2:1.6118
R1:1.6043
PP:1.5967
S1:1.5892
S2:1.5816
S3:1.5741

Observation (s):

Please check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate.
Key level at 1.5900.

Warning (s):

Stop Loss should NEVER exceed your maximum exposure amounts.
Risk to reward ratios are important and should be calculated.

Example 1:
A risk reward ratio of 1:1.5 is recommended:
Risk: 30 pips must make a profit of 45 pips.
30 pips * 1:1.5 = 45 pips.
Example 2:
A risk reward ratio of 1:1.5 is recommended:
Risk: 45 pips must make a profit of 60 pips.
45 pips * 1:1.5 = 60 pips.

http://instaforex.com/forex_analysis/42443/?x=OUE

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AUD/USD Technical Analysis and Trading Recommendations for October 26th - 28th, 2011.

Forecast

Mourad El Keddani

 

Pivot Point: 1.0439.

Overview:

AUD/USD's turbulent rise from 1.0362 has extended further to as high as 1.0500 two days ago, and it closed at 1.0424 yesterday, and it should be noted that the price is now approaching a strong support at 1.0362, because the bulls had already broken this level therefore the bears were forced to pullback above this level of 1.0362 (24^th of October 2011). As well the price has placed above 50% of Fibonacci retracement levels ten days ago. Futhermore, this strong level has still been trapped between 61.8% of Fibonacci retracement levels and 78% on H4 chart. So it is probably that the market will start showing the signs of bullish market again in order to indicate a bullish opportunity on level of 1.0360 with a first target of 1.0465, and continues towards 1.0600. Meanwhile; if the support (1.0362) breaks, the market will indicate a bearish opportunity below it then the support will be become a resistance, so it will a good sign to sell below 1.0360 with a target at 1.0180 and it might resume to 1.0080.

Trading Recommendations:

According to previous events, the price has still been trapped between 1.0241 and 1.0465.

• Buy above 1.0360 with a first target of 1.0460, and continues towards 1.0575.
• Closure below 1.0320 (H4 chart), it will call for downtrend in order to continue bearish towards 0.0078 (50% of Fibonacci retracement levels)
  

  Intraday Technical levels ((26^th of October 2011)):

  R3:1.0580
  R2:1.0538
  R1:1.0481
  PP:1.0439
  S1:1.0382
  S2:1.0340
  S3:1.0283
  

  Observation (s):

  Please check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate.
  Key level at 1.0362.
  
  http://instaforex.com/forex_analysis/42351/?x=OUE

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GBP/JPY Elliott wave count and Fibonacci levels for October 25, 2011

Wave analysis

Roman Molodiashin

GBP/JPY is developing impulse wave C (colored light green in the chart) of medium term uptrend from 116.91. Within this wave there are two subwaves (colored royal blue in the chart), and subwave B is still developing from 122.58. The targets of the downmove are Fibonacci retracements of 116.91-122.58, and expansions off 122.58-119.97-122.04, 122.04-120.93-121.91.
Supports:
- 120.80 = objective point (OP)
- 120.43 = contracted objective point (COP)
- 120.11 = expanded objective point (XOP)
- 119.75 = .50 ret
- 119.43 = OP
- 119.08 = .618 ret
- 119.00 = super expanded objective point (SXOP)
If the price keeps advancing the immediate resistances will be Fibonacci retracements of 130.81-116.78 and expansions off 116.78-120.78-116.91, 116.91-122.58-119.93, 119.93-122.04-120.93.
Resistances:
- 122.23 = COP
- 123.04 = OP
- 123.38-43 = confluence area of XOP and COP
- 123.80 = .50 retracement

Overbought/Oversold
Assuming that the major wave is now up it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (20-35 pips below the current prices).
http://instaforex.com/forex_analysis/42289/?x=OUE 

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EUR/USD: Weekly Technical levels for October 24th - 28th, 2011

Technical analysis

Mourad El Keddani

 

Weekly Technical Levels:

Tip (s):

R3 and S3 are good indication for the maximum range for extremely volatile days but can exceeded occasionally.
Pivot lines work well in sideways markets as prices will most likely range between the R1 and S1 line.
In a strong trend, price will be low through a pivot point line and keep going.
If there is significant news to influence the market price may go straight through R1 or S1 and reach even R2 & R3 or S2 & S3.

Time Frame: H1.

Drag your Fibonacci retracement levels from the lower to the higher of the last week (17^th - 21^st of October, 2011) in order to determine low and high price.
Average = (Higher - Lower) / 2
Average = 1.3783

• 50% Fibonacci retracement levels has already formed a strong level at 1.3783.
• Double bottom at 1.3655.
• It should be noted that the price has still been trapped between 1.3652 and 1.3913.

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Volatility:

Variation = Average * (Higher - Lower)
359.70

Observation (s):

If the strength of the trend for pair is an uptrend, then the strength of the currency: EUR is an uptrend and USD is a downtrend.
Most of traders use the Fibonacci retracement to determine accurate psychology level of support and resistance.
Strong support at 1.3660.
http://instaforex.com/forex_analysis/42147/?x=OUE

EUR/JPY Intraday Technical analysis 2011-10-21

Technical analysis

Albert Fitoussi

The spot rate is currently testing the upper limit of its medium-term bearish channel in 106.60 suggesting a decline. However a break of these levels would free up significant potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 106.60 with a 1st objective of 107.20, then 107.60. A break in 106.40 would invalidate this scenario.

http://instaforex.com/forex_analysis/42057/?x=OUE

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AUD/USD Intraday Technical Analysis October 20, 2011

Technical analysis

Mohamed Samy

AUD/USD is now trending down inside a bearish channel since August 1.
Since it broke the main established low at 0.9942, it declared the structural end of the former uptrend.
Recently, the pair found support from the lower limit of the marked channel manifested in the long bullish daily candlesticks.
The pair managed to break and close above former resistance zone 0.9727-0.9942 and 38.2% Fibonacci level (0.9920).
We need to focus on short positions in this strong downtrend so We suggested a SHORT position at 1.0300 or better which is giving +70 pips till now.
This resistance area is representing the upper limit of the bearish channel, 61.8% Fibonacci level & previous supply (congestion) zone.
Yesterday we had a shooting star daily candlestick confirming our bearish view towards this level.
SL should be daily closure above 1.0280 and TP remains the same at 1.0010, 0.9950 and 0.9730.
http://instaforex.com/forex_analysis/42001/?x=OUE

InstaForex

USD/CAD Technical Analysis and Trading Recommendations for October 19, 2011.

Forecast

Mourad El Keddani

Pivot Point: 1.0176

Overview:
The market is continuing to show signs of strength following the break at 1.0000 (Horizontal line of a green color on the chart). Therefore the USD/CAD's resistance has broken and it was turned to support a month ago (16^th of September 2011), aswell the pair has already formed a strong support at the level of 1.0000. So the market indicates a bullish opportunity on level of 1.0000 with a first target of 1.0200 and continue towards 1.0320. However, If the trend can break this level and closure below 1.0000, then it will be a downside momentum is rather convincing and the structure of the fall looks is not corrective, for that the market will indicate a bearish opportunity at 0.9930 hence it will be a good sign to sell at this level.

Trading Recommendations:
According to previous events, the price has still been trapped between 1.0000 and 1.0400.

• Buy above 1.0000 with target at 1.0150 then 1.0300.
• Below 0.9930 look for further downside with a target of 0.9730.

Technical Levels:
R3:1.0394
R2:1.0329
R1:1.0241
PP:1.0176
S1:1.0088
S2:1.0023
S3:0.9935

Observation (s):
Please check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate.
Key level at 1.0000.
History will probably repeat itself at this level again.

http://instaforex.com/forex_analysis/41815/?x=OUE

InstaForex

AUD/USD Intraday Technical Analysis October 18, 2011

Technical analysis

Mohamed Samy

AUD/USD is now trending down inside a bearish channel since August 1.
Since it broke the main established low at 0.9942, it declared the structural end of the former uptrend.
Recently, the pair found support from the lower limit of the marked channel manifested in the long bullish daily candlesticks.
The pair managed to break and close above former resistance zone 0.9727-0.9942 and 38.2% Fibonacci level (0.9920).
We need to focus on short positions in this strong downtrend so We suggested a SHORT position at 1.0300 or better which is giving +120 pips till now.
This resistance area is representing the upper limit of the bearish channel, 61.8% Fibonacci level & previous supply (congestion) zone.
SL should be advanced to be daily closure above 1.0259 and TP remains the same at 1.0010, 0.9950 and 0.9730.
http://instaforex.com/forex_analysis/41757/?x=OUE

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EUR/USD Weekly Forecast For October 17th - 21st / 2011

Forecast

Arief Makmur

DESCRIPTION :

Last week the EUR/USD tried to test the dynamic resistance Simple Moving avarage (10) at the 1.3896 level; if next week the currency is successfully continuing its movement toward and above level 1.3896, then 1.4040 Fibonacci Resistance 50% will be the next destination for EUR/USD. Conversely, if it turns out that next week EUR/USD reverses course to the level 1.3684 then 1.3650 would be the primary target and 1.3625 and 1.3600 will be the next targets.
http://instaforex.com/forex_analysis/41585/?x=OUE

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USD/CHF wave analysis for October 14, 2011

Wave analysis

Alexander Dneprovskiy

During yesterday’s trading the USD/CHF currency pair could not continue the downside trading thus coming into a horizontal correction state. At the same time it seems that regardless the further development of the wave situation the price might resume declining at least to the 87 figure level (38.2% of the current correction). In the meantime the estimated 2nd wave (or b) at the moment looks a little simplified thus allowing it to be formed further, either in price or in timely respect.

http://instaforex.com/forex_analysis/41485/?x=OUE

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EUR/USD Intraday Technical Level For October 13rd / 2011

Technical analysis

Arief Makmur

TODAY  TECHNICAL  LEVEL :

Breakout BUY Level : 1.3845.
Strong Resistance : 1.3837.
Original Resistance : 1.3824.
Inner Sell Area : 1.3811.
Target Inner Area : 1.3778.
Inner Buy Area : 1.3745.
Original Support : 1.3732.
Strong Support : 1.3718.
Breakout SELL Level : 1.3711.

DESCRIPTION :

Today EUR/USD has the support and resistance at 1.3732 and 1.3824 is accompanied by a strong support at 1.3718 and 1.3837 for they strong resistance; If today EUR/USD can breakout and close below the 1.3711 level then this indicates considerable Bearish  strength, while if the EUR/USD today can breakout and close above the 1.3845 level then this indicates Bullish considerable strength . Alternatively you can trade in a way to open BUY position at the level of 1.3745 and 1.3811 for SELL position in which case both targets are at the 1.3778 level.
  http://instaforex.com/forex_analysis/41337/?x=OUE

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GBP/USD candlestick analysis for October 12, 2011

Technical analysis

Vladimir Donin

The GBP/USD currency pair is demonstrating a rebound after it could not fixate above the support level 1.5565. Nevertheless the viewpoint at the pair remains bearish.
Earlier in a 4-hour graph the GBP/USD pair formed a Falling Three Methods combination that gives us a bearish signal.
This combination was formed amid a downside movement after the pair could not break the resistance level near 1.6600, which means that the bulls could not solidify here and the bears started to increase their influence. At the same time each rollback was considered as a pause before further decline.
Break of the support level 1.5565 will denote that this point of view is correct. In this case we should expect a downfall to the support level 1.5344. Its break will cause downside movement to 1.5290.
It is worth mentioning that stop loss should be placed slightly above the 1.5932 level as its break will allow the pair to reach 1.6200. 

http://instaforex.com/forex_analysis/41211/?x=OUE

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AUD/USD Elliott wave count and Fibonacci levels for October 11, 2011

Wave analysis

Roman Molodiashin

AUD/USD is developing corrective wave A of medium term uptrend (colored light green in the chart). Within this wave there are A, B and C waves of smaller degree (colored red in the chart), with wave C still developing from 0.9733. The targets of the upmove are Fibonacci retracements of 1.0768-0.9387, and expansions off 0.9387-0.9878-0.9733.
Resistances:
- 1.0036 = contracted objective point (COP)
- 1.0077 = .50 retracement
- 1.0224 = objective point (OP)
- 1.0240 = .618 ret
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 0.9387-1.0014.
Supports:
- 0.9774 = .382 ret
- 0.9701 = .50 ret
- 0.9627 = .618 ret

Overbought/Oversold
Assuming that the larger wave is now moving up it's preferable to try long positions when the Detrended Oscillator goes below the zero level (current prices) or gets into the oversold area (30-40 pips below the current prices).
http://instaforex.com/forex_analysis/41091/?x=OUE

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