EUR/USD Intraday Technical Level For October 10th / 2011

Technical analysis

Arief Makmur

TODAY  TECHNICAL  LEVEL :

Breakout BUY Level : 1.3465.
Strong Resistance : 1.3457.
Original Resistance : 1.3444.
Inner Sell Area : 1.3431.
Target Inner Area : 1.3399.
Inner Buy Area : 1.3367.
Original Support : 1.3354.
Strong Support : 1.3340.
Breakout SELL Level : 1.3333.

DESCRIPTION :

Today EUR/USD has the support and resistance at 1.3354 and 1.3444 is accompanied by a strong support at 1.3340 and 1.3457 for the strong resistance; If today EUR/USD can break out and close below the 1.3333 level then this indicates considerable Bearish strength, while if the EUR/USD today can breakout and close above the 1.3465 level then this indicates considerable Bullish strength. Alternatively you can trade in a way to open BUY position at the level of 1.3367 and 1.3431 for SELL position in which  case both targets at the 1.3399 level.


http://instaforex.com/forex_analysis/40965/?x=OUE

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for October 7, 2011

Wave analysis

Roman Molodiashin

GBP/JPY is developing potential impulse wave 5 (colored light green in the chart) of medium term downtrend from 120.78. Within this wave there are five subwaves (colored red in the chart), and subwave A is now developing against the downtrend from 116.91. The targets of the upmove are Fibonacci retracements of 120.78-116.91, and 127.31-116.78.
Resistances:
- 118.85 = .50 retracement
- 119.30 = .618 ret
- 120.80 = .382 ret
However if the downtrend resumes and the price breaks below 116.78, the immediate supports will be Fibonacci expansions off 130.81-123.27-127.31, 127.31-116.78-120.78, 120.78-119.06-120.73, 120.73-117.66-119.06.
Supports:
- 116.23 = super expanded objective point (SXOP)
- 115.99 = objective point (OP)
- 115.11 = expanded objective point (XOP)
- 114.27 = contracted objective point (COP)

Overbought/Oversold
Assuming that the major wave is now down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (10-20 pips above the current prices) or into the overbought area (40-55 pips above the current prices).
http://instaforex.com/forex_analysis/40835/?x=OUE 

InstaForex

EUR/USD Intraday Technical Level For October 6th / 2011

Technical analysis

Arief Makmur

TODAY  TECHNICAL  LEVEL :

Breakout BUY Level : 1.3407.
Strong Resistance : 1.3399.
Original Resistance : 1.3387.
Inner Sell Area : 1.3374.
Target Inner Area : 1.3343.
Inner Buy Area : 1.3311.
Original Support : 1.3299.
Strong Support : 1.3286.
Breakout SELL Level : 1.3278.

DESCRIPTION :

Today EUR/USD has the support and resistance at 1.3299 and 1.3387 is accompanied by a strong support at 1.3286 and 1.3399 for the strong resistance; If today EUR/USD can break out and close below the 1.3278 level then this indicates considerable Bearish strength, while if the EUR/USD today can breakout and close above the 1.3407 level then this indicates considerable Bullish strength. Alternatively you can trade in a way to open BUY position at the level of 1.3311 and 1.3374 for SELL position in which case both targets are at the 1.3343 level.
http://instaforex.com/forex_analysis/40677/?x=OUE

InstaForex

GBP/USD Intraday Technical Analysis for October 5, 2011

Technical analysis

Mohamed Samy

As we see on the daily chart, we had a successful retest of the broken bearish channel at 1.5345.
Level 1.5345 isn't just the backside of the bearish channel but also a strong daily support for the pair which was mentioned in previous articles.
The daily candlestick looks very bullish after achieving the target of breakout of the previous range 1.5533- 1.5715.


Here on the 4H chart, we can see obvious bullish reaction towards the support level 1.5345 which stopped at the 50% fibonacci.
Based on the previous analysis, The market indicates bullish opportunity near 1.5345 with SL daily closure below it.
Profits should be taken at 1.5490 , 1.5530, 1.5590 then 1.5670.

http://instaforex.com/forex_analysis/40542/?x=OUE

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GBP/JPY Elliott wave count and Fibonacci levels for October 4, 2011

Wave analysis

Roman Molodiashin

GBP/JPY is developing impulse wave C (colored light green in the chart) of medium term downtrend from 127.31. Within this wave there are five subwaves (colored royal blue in the chart), and subwave A is now developing against the downtrend from 116.78, therefore wave C may be coming to an end. Within this wave (A) there are two waves of still smaller degree (colored magenta) with subwave B still developing. The targets of the upmove are Fibonacci retracements of 127.31-116.78, and expansions off 116.82-120.78-117.97.
Resistances:
- 120.42 = contracted objective point (COP) - 120.80-85 = confluence area of .50 retracement and objective point (OP)
- 121.93-122.05 = OP and .618 ret
If the price keeps falling the immediate supports will be Fibonacci retracements of 116.78-120.78, and expansions off 130.81-123.27-127.31, 126.55-123.04-124.36, 124.36-116.78-120.78, 120.78-119.06-120.73.
Supports:
- 117.95 = expanded objective point (XOP)
- 116.23-10 = confluence area of super expanded objective point (SXOP) and contracted objective point (COP)
- 115.17-11 = SXOP and XOP

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 (5-10 pips below the current prices) or into the oversold area (40-60 pips below the current prices).
http://instaforex.com/forex_analysis/40440/?x=OUE 

InstaForex

Technical Analysis and Trade Recommendations for USD/CHF - October 3, 2011

Technical analysis

Stanislav Polyanskiy

4 hr


General review:
On October 3, the franc – US dollar pair closed the sideways moving and a new buy signal formed, the price passed the Ishimoku cloud which all confirms the current bullish sentiment on the market. The formed buy signal is strong and proved, as the Chinkou span is positioned above the price curve and the price is fixated above the Ishimoku cloud.
That is why now the target for trading long is the first level of resistance at 0.9176 and this target can be traded. If this level is passed through the next aim will appear the second resistance level of 0.9273. The uprise will continue until the price is placed above the Kijun Sen (0.9015), if the price declines below this line, this will denote weakening of buy signal and will call for narrowing longs, it is also recommended to set the stop loss below this level.
The Chinkou Span is above the price curve which is the confirmation of the current signal for purchases and stands for a bullish sentiment.
The Bollinger bands point to a rising motion as the bands are diverging and directed upwards, thus positions to buy the pair are most recommended now.
The MACD shows an upturn, the indicator is increasing which makes long positions possible, on an assumed correction (if the MACD recoils downside) it is advised to leave the market.
Trading recommendations:

Now it is recommended to trade long for the franc, target at 0.9176. If this level is crossed, the following target will be at 0.9273. The stop loss should be placed below 0.9015 and while the Kijun sen upmoves the stop loss should be gradually shifted upside. In case the MACD makes a downward rebound it is advised to narrow the longs manually.
In addition to the technical data it is also recommended to consider the fundamentals and the time of their release.
The chart annotation:
Ishimoku 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 the white bars in the indicators window.
http://instaforex.com/forex_analysis/40326/?x=OUE