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Fundamental Analysis For October 18, 2012

2012-10-18 19:54:49 (читать в оригинале)

A marked optimism about the summit meeting of European leaders which is held on Thursday and Friday in Brussels is giving bullish strength relative to the euro and to a lesser extent the British pound and the Swiss franc.
The single currency failed to break 1.31during the Wednesday's session, while the pound was around 1.62 during early American trading session.
The Australian dollar retook power in the last hours after China announced strong growth in its GDP. The Aussie is very dependent on China’s current situation. This country is the main destination for Australian exports.
As for the yen, it is bearish technically (bullish on charts) against the dollar. There is still the possibility of intervention by the Bank of Japan, which has not yet successful in finding the right action to prevent further strengthening of the yen against the dollar.
Of course, the general weakness of the U.S. currency concealed a stronger yen each day.
During Thursday's session, retail sales will be released in the UK at 4:30 Eastern.

The material has been provided by Instaforex Company - instaforex.com

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USD/CAD Intraday Technical Analysis and Trading Recommendations for October 18, 2012

2012-10-18 16:48:55 (читать в оригинале)

After the USD/CAD pair broke below 0.9845 the market went to the downside. It reached the price level of 0.9635 testing the lower limit of the depicted bearish long-term channel which expressed a considerable bullish strength.
The USD/CAD bullish movement managed to break above the upper limit of the depicted long-term channel (0.9725) which was considered to be a bullish signal in the long term with a possible bullish 123 reversal pattern appearing on the DAILY chart targeting 0.9980.
Intraday Price Action towards 0.9730 (61.8% Fibonacci) should be watched for a valid Intraday BUY entry.
Price zone 0.9820 - 0.9850 is an intraday resistance zone. In order to resume the targets for the bullish patterns targeting around 0.9980 there should be a break above the intraday resistance zone.
Fixation below price level of 0.9650 breaking the established bottom around 0.9740 invalidates the bullish scenario for the current situation.

The material has been provided by Instaforex Company - instaforex.com

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GBP/USD Intraday Technical Analysis and Trading Recommendations for October 18, 2012

2012-10-18 16:47:23 (читать в оригинале)

The GBP/USD pair reacted strongly towards 1.6300 - 1.6350 zone confirming the bearish retracement scenario expected in the previous weeks.
GBP/USD expressed daily closure below the lower limit of the depicted bullish channel which extended the bearish movement towards 1.5970 which has been providing considerable support for the pair.
The lower limit of the depicted 4H channel provided considerable support pushing the GBP/USD pair to the upper limit of the bearish 4H channel around 1.6125 which has been broken during yesterday's consolidations.
The lower limit of the broken DAILY channel was retested around price zone 1.6160 - 1.6180 yesterday. It triggered a suggested SELL entry with SL located above 1.6215.
The GBP/USD pair needs to be reclosed inside the depicted 4H channel (below 1.6095) in order to resume the expected bearish scenario on the DAILY chart.
Support: 1.6125, 1.6070, 1.6020, and 1.5970.
Resistance: 1.6175, 1.6260, and 1.6315.

The material has been provided by Instaforex Company - instaforex.com

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SILVER Technical Levels and Trading Recommendations for October 18, 2012

2012-10-18 16:44:03 (читать в оригинале)

 

Overview
The H4 chart demonstrates today that silver is still stabilizing between the Resistance level of 33.30 and the Support level of 33.00 after its failure to break the Resistance level of 33.30 today. If silver takes an upward movement and manages to close 4H above this Resistance level, it will provide a good opportunity to buy above the Resistance level as well as make it possible to reach the Resistance level of 33.65 as the level target. After that we should wait for breaking out of this Resistance level to continue the bullish move. In case silver is able to break the Resistance level of 33.65 and close 4H above, we will get a bullish strength which will provide new buy signals and enable the Resistance level of 34.20 as a level target.
On the other hand, if silver reverses its bullish move and takes a downward move after its rebound from the Resistance level of 33.30, it will be a strong indicator for the bearish move after closing 4H below Support level 33.00 enabling Support level 32.65. In this case we should wait for breaking this Support level to continue the bearish view. Based on the given H4 chart, the technical indicators provide buy signals, but as long as the Resistance level 33.30 is unbroken, the downward move is still expected and invalidating the upward movement. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support levels
R3 (34.20)
R2 (33.65)
R1 (33.30)
S1 (33.00)
S2 (32.65)
S3 (31.90)

Trading Recommendations
According to the previous analysis, we recommend buying in case of closing 4H above the Resistance level of 33.30 with TP 33.70; SL closing 4H below the Resistance level might be appropriate.

The material has been provided by Instaforex Company - instaforex.com

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GBP/JPY Technical Levels and Trading Recommendations for October 18, 2012

2012-10-18 16:41:52 (читать в оригинале)

 

Overview
Proceeding from today's 4H chart, the pair continues its bullish move after breaking the Resistance level of 127.75 and currently the pair is testing the Resistance level of 128.10. Given that the pair continues its bullish move and manages to break this Resistance level and closes 4H above, we will receive a strong indicator for more bullish signals which will enable the Resistance level of 128.40 as the level target. Then we should wait for breaking this Resistance level to continue the upward move and open the way towards the Resistance level of 129.05.
On the other hand, if the pair fails to break the Resistance level of 128.10 and bounces from it, it may reverse the bullish move taking a downward move which will enable the Support level of 127.75. Then we should wait for breaking this Support level in order to get new bearish signals. In case the pair is able to break the Support level and closes 4H below, we will get a bearish strength providing new sell signals which will enable the Support level of 127.20 as a level target. Based on the given H4 chart, the technical indicators provide buy signals, but as long as the Resistance level of 128.10 is unbroken, the downward move is still expected invalidating the bullish outlook. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support Levels
R3 (129.05)
R2 (128.40)
R1 (128.10)
S1 (127.75)
S2 (127.20)
S3 (126.85)

Trading Recommendations
According to the previous analysis, we recommend buying after breaking the Resistance level of 128.10 and closing 4H above with TP 128.55; SL closing 4 hours below the Resistance level will be appropriate.

The material has been provided by Instaforex Company - instaforex.com