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Silver Technical Levels and Trading Recommendatios for September 21, 2012

2012-09-21 16:27:39 (читать в оригинале)

 

 

 

Overview

The H4 chart demonstrates today that silver is still trading between the Support level of 34.25 and the Resistance level of 34.85 and fails to break the Resistance level 34.85 today. If silver continues the upward movement and manages to break this Resistance level, it will provide a good opportunity for buying above the Resistance level as well as make it possible to reach the Resistance level of 35.60 as a 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 35.60 and close 4H above, we will get a bullish strength which will provide new buy signals and enable the Resistance level 36.00 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 34.85, it will be a strong indicator for the bearish move after closing 4H below the Support level of 34.25 enabling the Support level of 33.90. 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 of 34.85 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(36.00)
R2(35.60)
R1(34.85)

S1(34.25)
S2(33.90)
S3(33.20)

Trading Recommendations

According to previous analysis, we recommend buying in case of closing 4H above the Resistance level 34.85 with TP 35.50; 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 September 21, 2012

2012-09-21 16:22:04 (читать в оригинале)

 

 

Overview

Proceeding from today's 4H chart, the pair is going to take an upward move after breaking the Resistance area 126.45-126.85. Currently, the pair is trading between the Resistance level of 127.75 and the Support level of 126.85. Given that the pair 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 127.75 and bounces from it, it may reverse the bullish move taking a downward move which will enable the Support level of 126.85. 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 126.45 as a level target. Based on the given H4 chart, the technical indicators provide buy signals, but as long as the Resistance level of 127.75 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(127.75)

S1(126.85)
S2(126.45)
S3(125.80)

Trading Recommendations

According to the previous analysis, we recommend buying after breaking the Resistance level of 127.75 and closing 4H above with TP 128.35; SL closing 4 hours below the Resistance level will be appropriate.

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

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USD/CAD Intraday Technical Analysis and Trading Recommendations for September 21, 2012

2012-09-21 16:19:45 (читать в оригинале)

The USD/CAD pair found resistance around the price level of 0.9915 corresponding to the upper limit of the bearish channel breaking down the lower limit of the consolidation range at 0.9845 which previously acted as support level.

After breakdown of 0.9845, the market went to the downside reaching the price level of 0.9635, achieving the full target for this range bearish breakout located at 0.9745 and testing the lower limit of the depicted bearish long-term channel.

The USD/CAD pair reacted strongly towards the upper limit of the depicted channel pushing the pair to the downside testing the Intraday Support zone 0.9720-0.9700.

Price level of 0.9840 still should be watched for price action at retesting as it will probably offer a valid SELL entry with target at the lower limit of the channel around 0.9650. However, fixation above 0.9845 threatens again the bearish view confirming the possible bullish Head & Shoulders pattern depicted on the chart.

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for September 21, 2012

2012-09-21 16:18:26 (читать в оригинале)

The GBPUSD had one more indecisive movement on Tuesday manifested in the Doji daily candlestick which was followed by a bearish candlestick on Wednesday. However, the pair reacted strongly towards the price level of 1.6160 pushing the pair to test 1.6300 – 1.6350 zone.

The view remains bullish in short-term testing 1.6300 – 1.6350 zone as long as we have daily closure above 1.6250.

Support: 1.6200, 1.6180, 1.6150, 1.6125, 1.6075.

Resistance: 1.6250, 1.6285, 1.6300, 1.6350, 1.6390.

Intraday support is seen around 1.6160. However, an obvious break below that level could lead the price to neutral zone in nearest term testing 1.6130-1.6050, while a longer-term support is seen around price level 1.5920 (50% Fibonacci Level).

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

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EUR/JPY Wave Analysis for September 21, 2012

2012-09-21 14:22:46 (читать в оригинале)

EUR/JPY Elliott Wave
For the last few days the EUR/JPY pair was trading in a downward channel, developing corrective wave A (coloured blue) of the bigger wave (4) (coloured green). Yesterday during the Asian and European sessions, we could observe a descending movement from 102.38 towards the 100.93 level and we can consider this move as the end of the impulsive (3) wave (coloured purple) of the bigger A wave (coloured blue). Therefore, during the New York session, the EUR/JPY pair started pushing higher when development of the corrective (4) wave (coloured purple) start. At the moment, the EUR/JPY pair is trading around 102.10 level and we are expecting to see price lower today. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1, with Take Profit at 100.64 (100% of wave 1). To reduce the risk, we can use invalidation at 102.40 level as Stop Loss. Also it is necessary to monitor the EUR Belgium NBB Business Climate data that can change the rate of the pair.
Support and Resistance
(S3) 100.13 (S2) 100.69 (S1) 101.03 (PP) 101.59 (R1) 102.15 (R2) 102.49 (R3) 103.05
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 101.80 with Stop Loss 102.40 and Take Profit at 100.64 are recommended.

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