Overview:
The euro is continuing the upside movement, the Bollinger bands are diverging up, which strengthened the new buy signal with target level 1.4220. The formed buy signal is strong and confirmed, since the Chinkou Span fixated above the price graph and the price is above the Ichimoku cloud. Thus, at the moment the first target for the upside movement is 1.4295 – the first resistance level. If this level is passed the second target will be the second resistance level at 1.4405. Upside movement remains while the price is above the Kijun-sen (1.4055), if the price fixates below this line it is recommended to cut long positions. The Chinkou Span is above the price graph, which confirms the current buy signal and indicates bullish sentiment. The Bollinger bands show the continuation of the upside movement, the lines are diverging and directed up. The MACD is ascending, thus indicating current upside movement, if it reverses down this will denote the beginning of a correction movement.
Trading recommendations:
Currently it is recommended to trade up with target at 1.4295 and further to 1.4405. Stop Loss should be placed below 1.4055. If the MACD reverses down, it is recommended to cut long positions.
In addition to technical image, one should take into account the fundamental data and the time of their release.
http://instaforex.com/forex_analysis/25319/?x=OUE
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Tuesday, March 22, 2011
Monday, March 21, 2011
Morning Forex Overview
Previous session overview
A quiet day on the nuclear front in Japan is giving risk-sensitive currencies a lift, while the prospect of further central bank intervention has curbed yen appreciation for now.
Japanese authorities cited progress Monday in cooling the affected reactors at the Fukushima Daiichi Nuclear Power plant, as they continued to douse those reactors using fire trucks and water cannon.
The yen was weaker on the prospect of further moves by the G-7 central banks to sell it even though the safe-haven Japanese currency was supported by the ongoing military action in Libya and the surge in oil prices.
At 0720 GMT, the dollar was trading at JPY80.92, up from JPY80.60 in late New York trade on Friday; while the euro was at JPY114.67, up from JPY114.35, and at USD1.4176, down from USD1.4182.
Elsewhere, spot gold was at USD1428.00 per troy ounce, up USD10.10 from New York Friday.
The New Zealand currency also was up, changing hands at USD0.7335. The Swiss franc, meanwhile, sank against the U.S. dollar, reflecting the return of some risk appetite after last week's market shocks that resulted from fallout from Japan's earthquake, in particular the nuclear crisis.
The Pound held no resemblance to consumer confidence coming at record lows, as the BoE's involvement in co-ordinate intervention pushed the GBPJPY pair from JPY127.80 to higher near JPY132.53, simultaneously taking the GBPUSD along for the ride to trade as high as USD1.6256.
The Australian dollar pushed higher Monday in quiet trade, shaking off worries over Libya as Japan's nuclear crisis showed signs of easing. At 0526 GMT, the Australian dollar was changing hands at USD1.0015, up from USD0.9837 late Friday. Against the yen, it traded at JPY80.945, down from JPY81.35.
Market expectation
For now, much of the focus remained on the technical's surrounding the dollar, with analysts noting solid resistance around JPY82.00 and the risk of intervention on any dip towards JPY80. Others have noted JPY81.20 could be a difficult short-term resistance point.
Few economic data releases are scheduled from the U.K. or Europe. In the U.S., however, existing home sales data for February are due at 1400 GMT.
EURSEK is set to test support at SEK8.82/85 Monday after it crashed through the support level at SEK8.95, say dealers. This triggered a more profound downside reaction than anticipated. The pair must fall back beneath the 55-day moving average band to confirm that the recent correction has ended calling for fresh cycle lows, dealers added.
European stock markets are expected to open higher Monday, helped by gains in Asia overnight after Japanese officials announced that conditions at the Fukushima Daiichi nuclear power plant have continued to improve over the weekend.
www.tradebankerstyle.com
A quiet day on the nuclear front in Japan is giving risk-sensitive currencies a lift, while the prospect of further central bank intervention has curbed yen appreciation for now.
Japanese authorities cited progress Monday in cooling the affected reactors at the Fukushima Daiichi Nuclear Power plant, as they continued to douse those reactors using fire trucks and water cannon.
The yen was weaker on the prospect of further moves by the G-7 central banks to sell it even though the safe-haven Japanese currency was supported by the ongoing military action in Libya and the surge in oil prices.
At 0720 GMT, the dollar was trading at JPY80.92, up from JPY80.60 in late New York trade on Friday; while the euro was at JPY114.67, up from JPY114.35, and at USD1.4176, down from USD1.4182.
Elsewhere, spot gold was at USD1428.00 per troy ounce, up USD10.10 from New York Friday.
The New Zealand currency also was up, changing hands at USD0.7335. The Swiss franc, meanwhile, sank against the U.S. dollar, reflecting the return of some risk appetite after last week's market shocks that resulted from fallout from Japan's earthquake, in particular the nuclear crisis.
The Pound held no resemblance to consumer confidence coming at record lows, as the BoE's involvement in co-ordinate intervention pushed the GBPJPY pair from JPY127.80 to higher near JPY132.53, simultaneously taking the GBPUSD along for the ride to trade as high as USD1.6256.
The Australian dollar pushed higher Monday in quiet trade, shaking off worries over Libya as Japan's nuclear crisis showed signs of easing. At 0526 GMT, the Australian dollar was changing hands at USD1.0015, up from USD0.9837 late Friday. Against the yen, it traded at JPY80.945, down from JPY81.35.
Market expectation
For now, much of the focus remained on the technical's surrounding the dollar, with analysts noting solid resistance around JPY82.00 and the risk of intervention on any dip towards JPY80. Others have noted JPY81.20 could be a difficult short-term resistance point.
Few economic data releases are scheduled from the U.K. or Europe. In the U.S., however, existing home sales data for February are due at 1400 GMT.
EURSEK is set to test support at SEK8.82/85 Monday after it crashed through the support level at SEK8.95, say dealers. This triggered a more profound downside reaction than anticipated. The pair must fall back beneath the 55-day moving average band to confirm that the recent correction has ended calling for fresh cycle lows, dealers added.
European stock markets are expected to open higher Monday, helped by gains in Asia overnight after Japanese officials announced that conditions at the Fukushima Daiichi nuclear power plant have continued to improve over the weekend.
www.tradebankerstyle.com
Wednesday, March 16, 2011
EUR/USD Technical Analysis. Support And Resistance Levels For March 16/2011
TODAY TECHNICAL LEVEL :
Breakout Buy level : 1.4056.
Strong Resistance : 1.4047.
Original Resistance : 1.4034.
Inner Sell Area : 1.4020.
Target Inner Area : 1.3987.
Inner Buy Area : 1.3953.
Original Support : 1.3940.
Strong Support : 1.3926.
Breakout Sell level : 1.3918
TODAY OUTLOOK :
It looks like today the EUR/USD wants to test its last channel at 1.3956; if this level can hold this pair and provide a strong support for today, it will cause the EUR/USD to go up again and the pair will test the 3 days high at 1.4015, and if this level can be broken out, this will indicate the bullish situation for the EUR/USD is back. On the other hand if the 1.3956 level cannot handle the downside movement of this pair and the EUR/USD closes below this level, it will indicate that the upside movement of this pair will be held.
TODAY SUGGESTION :
BUY if the EUR/USD can break out and close above 1.4015 and set Take profit at 1.4025 as the first target and 1.4050 as the second target.
SELL if the EUR/USD can break out and close below 1.3956 and set Take profit at 1.3945 as the first target and 1.3925 as the second target.
http://instaforex.com/forex_analysis/24931/?x=OUE
Breakout Buy level : 1.4056.
Strong Resistance : 1.4047.
Original Resistance : 1.4034.
Inner Sell Area : 1.4020.
Target Inner Area : 1.3987.
Inner Buy Area : 1.3953.
Original Support : 1.3940.
Strong Support : 1.3926.
Breakout Sell level : 1.3918
TODAY OUTLOOK :
It looks like today the EUR/USD wants to test its last channel at 1.3956; if this level can hold this pair and provide a strong support for today, it will cause the EUR/USD to go up again and the pair will test the 3 days high at 1.4015, and if this level can be broken out, this will indicate the bullish situation for the EUR/USD is back. On the other hand if the 1.3956 level cannot handle the downside movement of this pair and the EUR/USD closes below this level, it will indicate that the upside movement of this pair will be held.
TODAY SUGGESTION :
BUY if the EUR/USD can break out and close above 1.4015 and set Take profit at 1.4025 as the first target and 1.4050 as the second target.
SELL if the EUR/USD can break out and close below 1.3956 and set Take profit at 1.3945 as the first target and 1.3925 as the second target.
http://instaforex.com/forex_analysis/24931/?x=OUE
Tuesday, March 15, 2011
EUR/USD Technical Analysis. Support And Resistance Levels For March 15/2011
TODAY TECHNICAL LEVEL :
Breakout Buy level : 1.4061.
Strong Resistance : 1.4053.
Original Resistance : 1.4039.
Inner Sell Area : 1.4025.
Target Inner Area : 1.3992.
Inner Buy Area : 1.3959.
Original Support : 1.3945.
Strong Support : 1.3931.
Breakout Sell level : 1.3923.
TODAY OUTLOOK :
Since early morning the EUR/USD has been trading in a ranging situation between 1.3975 and 1.4000. However, the pair unexpectedly broke out and closed below 1.3975. Now it is going to test the next support at 1.3950 and this level can be easily broken because the EUR/USD wants to test the Fibonacci support area 78.6% at 1.3928. If this level can be broken out too, there is a possibility that today the pair will go down again to the 1.3900 level.
TODAY SUGGESTION :
NO TRADE suggested during the FOMC statement.
http://instaforex.com/forex_analysis/24879/?x=OUE/
Breakout Buy level : 1.4061.
Strong Resistance : 1.4053.
Original Resistance : 1.4039.
Inner Sell Area : 1.4025.
Target Inner Area : 1.3992.
Inner Buy Area : 1.3959.
Original Support : 1.3945.
Strong Support : 1.3931.
Breakout Sell level : 1.3923.
TODAY OUTLOOK :
Since early morning the EUR/USD has been trading in a ranging situation between 1.3975 and 1.4000. However, the pair unexpectedly broke out and closed below 1.3975. Now it is going to test the next support at 1.3950 and this level can be easily broken because the EUR/USD wants to test the Fibonacci support area 78.6% at 1.3928. If this level can be broken out too, there is a possibility that today the pair will go down again to the 1.3900 level.
TODAY SUGGESTION :
NO TRADE suggested during the FOMC statement.
http://instaforex.com/forex_analysis/24879/?x=OUE/
Monday, March 14, 2011
GBP/USD. Weekly and Monthly Pivot Points, For March 14-18, 2011 2011-03-14
_____WEEKLY____
Weekly - R3 = 1.6656
Weekly - R2 = 1.6500
Weekly - R1 = 1.6292
Weekly Pivot = 1.6136
Weekly - S1 = 1.5928
Weekly - S2 = 1.5772
Weekly - S3 = 1.5564
_____MONTHLY______
Monthly - R3 = 1.6680
Monthly - R2 = 1.6479
Monthly - R1 = 1.6365
Monthly Pivot = 1.6164
Monthly - S1 = 1.6050
Monthly - S2 = 1.5849
Monthly - S3 = 1.5735
http://instaforex.com/forex_analysis/24843/?x=OUE/
Weekly - R3 = 1.6656
Weekly - R2 = 1.6500
Weekly - R1 = 1.6292
Weekly Pivot = 1.6136
Weekly - S1 = 1.5928
Weekly - S2 = 1.5772
Weekly - S3 = 1.5564
_____MONTHLY______
Monthly - R3 = 1.6680
Monthly - R2 = 1.6479
Monthly - R1 = 1.6365
Monthly Pivot = 1.6164
Monthly - S1 = 1.6050
Monthly - S2 = 1.5849
Monthly - S3 = 1.5735
http://instaforex.com/forex_analysis/24843/?x=OUE/
Friday, March 11, 2011
GBP/USD Around Second Weekly Support , March 11, 2011 (Daily Strategy)
GBP/USD
The British pound - United States dollar pair is facing its second weekly support approximately 1.5959, is also important to note that there is a strong line of support, so the fall that brings the pound sterling, can hold at these levels, at these levels would be a good opportunity to buy with a target in 1.6160. around monthly pivot.
something we see on the graph, the analysis of 03 March where our outlook was bearish, so it is, having won about 300 pips.
http://instaforex.com/forex_analysis/24741/?x=OUE/
The British pound - United States dollar pair is facing its second weekly support approximately 1.5959, is also important to note that there is a strong line of support, so the fall that brings the pound sterling, can hold at these levels, at these levels would be a good opportunity to buy with a target in 1.6160. around monthly pivot.
something we see on the graph, the analysis of 03 March where our outlook was bearish, so it is, having won about 300 pips.
http://instaforex.com/forex_analysis/24741/?x=OUE/
Thursday, March 10, 2011
Fundamental market review for 10.03.2011
The euro declined against the dollar on Thursday as concerns about Europe’s debt problems outweigh hopes for interest rate hike by ECB. It is also of concern that raising the interest rate ECB might provoke the next wave of debt crisis in Europe. In the meantime, investors are expecting European leaders’ meeting on Friday and bank stress-tests planned on the next few weeks.
During the next weeks the attention of market players will be concentrated on debt problems, as European leaders and Ministers of Finance will have a series of meetings devoted to these issues.
The euro was under pressure amid surprisingly bad data on China’s foreign trade. According to the Thursday’s data by Custom Administration, China’s export advanced by 2.4% y-o-y in February, which is considerably lower than January’s 37.7% and economists’ estimate (25.9%). These results were conditioned by the lunar calendar New Year. Nevertheless, the data turned out to be quite shocking and forced the investors to sell the euro. The dollar is supported by rising unrest in Libya.
Today US foreign trade balance data and federal budget balance data are due.
http://instaforex.com/forex_analysis/24661/?x=OUE/
During the next weeks the attention of market players will be concentrated on debt problems, as European leaders and Ministers of Finance will have a series of meetings devoted to these issues.
The euro was under pressure amid surprisingly bad data on China’s foreign trade. According to the Thursday’s data by Custom Administration, China’s export advanced by 2.4% y-o-y in February, which is considerably lower than January’s 37.7% and economists’ estimate (25.9%). These results were conditioned by the lunar calendar New Year. Nevertheless, the data turned out to be quite shocking and forced the investors to sell the euro. The dollar is supported by rising unrest in Libya.
Today US foreign trade balance data and federal budget balance data are due.
http://instaforex.com/forex_analysis/24661/?x=OUE/
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