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Review of the Currency Markets (October 5, 2012)

2012-10-05 11:21:51 (читать в оригинале)

EURUSD: This market was trading sideways from Monday to Thursday, but it broke out to the upside on Thursday. The price now goes above the EMA 21. The next target could be 1.3050.

 

USDCHF: The USD/CHF pair firstly moved indecisively earlier this week. This continued until there was a downward breakout on Thursday.  The support level at 0.9300 has been tested, and if the bearish bias continues, the next target could be 0.9250.

 

GBPUSD: This instrument was trading lower from Monday to Wednesday, but the loss has been recovered as the pair moved up strongly. The resistance level at 1.6200 has been tested, and if it is broken upwards, the next target would be 1.6250.

 

EURJPY: Interestingly, EUR/JPY has maintained the momentum which it had at the beginning of this week. The price has tested 102.00 and is trying to close above it. If this proves successful, the next target would be 102.50.

 

USDJPY:  USD/JPY has also maintained the bullish bias which it had at the beginning of this week. But since Thursday, the price has been coming down, and right now it is staying below the supply level of 78.50. It is still safe to assume that this pair would share the fate of other JPY pairs.

  

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

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GBP/USD. Forecast for October 5, 2012

2012-10-05 11:05:29 (читать в оригинале)

 

Bank of England left its policy unchanged, as it was expected: the interest rate is still at the level of 0.5%, the bond purchase target is left at 375 bn pounds. The British currency grew amid positive atmosphere on the market.
Today we do not expect any data from the UK; investors will be catering the labour data from the USA. The anticipations are encouraging.
The price growth has stopped on the Kruzenshtern trend line of 4H time frame. After it is fixed above it, we can expect continuation of the uptrend.
Technical targets are at 1.6245, 1.6257 (resistance on daily time frame), 1.6309 (high of September 21).

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

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GBP/USD Intraday Technical Analysis

2012-10-05 10:56:20 (читать в оригинале)

 

 

The spot rate is currently testing the upper limit of its medium-term bearish channel at 1.6200 suggesting a decline. However, a break of these levels will initiate a bullish channel.
Technical indicators do not provide clear signals but approaches overbuy zone and until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in the short term.
The spot rate is currently testing the upper limit of its channel, we suggest 2 scenarios: the first one is the hypothesis of a decline where we recommend a sell on the level of 1.6200 with the 1st objective at 1.6140 and then at 1.6120. A breakthrough of 1.6220 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 1.6200 with the 1st objective at 1.6260 and then at 1.6280. A breakthrough of 1.6180 will invalidate this scenario.

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

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EUR/USD Intraday Technical Levels for October 05, 2012

2012-10-05 10:49:14 (читать в оригинале)

TODAY's  TECHNICAL  LEVELS:

Breakout BUY Level: 1.3075.

Strong Resistance: 1.3067.

Original Resistance: 1.3056.

Inner Sell Area: 1.3043.

Target Inner Area: 1.3013.

Inner Buy Area: 1.2982.

Original Support: 1.2970.

Strong Support: 1.2957.

Breakout SELL Level: 1.2950.

 

DESCRIPTION:

Today EUR/USD has support and resistance at 1.2970 and 1.3056. It is accompanied by strong support at 1.2957 and by 1.3067 as strong resistance.

If EUR/USD breaks out and closes below a 1.2950 level today, then this will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and close above a 1.3075 level, then this will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.2982 and at 1.3043 a SELL position, in this case both targets should be located at the level of 1.3013.

 

 

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
Email : Arief.jakarta@indo.instaforex.com

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

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USD/JPY Intraday Technical Levels for October 05, 2012

2012-10-05 10:48:29 (читать в оригинале)

TODAY's  TECHNICAL  LEVELS:

Resistance 3: 78.94.

Resistance 2: 78.79.

Resistance 1: 78.63.

Support 1: 78.43.

Support 2: 78.28.

Support 3: 78.12.

 

DESCRIPTION:

Please, pay attention to the levels of support 3 (78.12) and resistance 3 (78.94). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

 

 

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
Email : Arief.jakarta@indo.instaforex.com

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