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EUR/JPY Candlestick Analysis for September 13, 2012

2012-09-13 12:08:41 (читать в оригинале)

Daily

EUR/JPY has built bearish candlestick formation Harami and tried to make a swing towards yen but did not manage to do so. The rate overcame Harami candlesticks, that is why this pattern is of no importance for now. As the result the quotes may extend towards correctional level 38.2% - 100.71 Fibonacci. If the pair fixes above this level, EUR/JPY may reach the correctional level of 50.0% - 102.76 Fibonacci. Moreover the pair still can demonstrate a reverse and rebound from correctional level 38.2%. In this case, the quotes may fall to 23.6% - 98.15. Building of bearish candlestick formation will enhance the expectations of a rebound.

4h

On 4-H time frame the rate has fixed above Fibonacci level of 76.4% - 99.84 due to Absorption. As the result, the growth may extend towards correctional level of 100.0% - 101.61. Another bearish candlestick formation may help the pair to make a short-term swing towards yen and go to the downside, probably, to 76.4%. But currently, such combination is not observed. Fibonacci 38.2% - 100.71 resistance level may prevent the pair from growth.

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

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Gold Threatened A Breakout, Only To Fallback Later... A Break of 1724.00 Will Accelerate Downside...

2012-09-13 11:57:23 (читать в оригинале)

 

Technical Outlook and Chart Setups:

Yesterday's spike to 1746.00 levels seems to be a final attempt of the bulls before giving up. Believe it or not, a bearish setup is still on till 1750.00 levels are intact. Smaller time frames have begun showing signs of a reversal, which shall be considered as a retracement of the huge upswing from 1580/90 levels to 1746. Furthermore, the backside of falling line of resistance is passing through 1640.00 levels for now. We are considering 1630/50 levels to be strong support levels from where the bulls should resume the next bull leg. For now, charts are stretched enough, indicating a pullback.

Trade Recommendations:

Remain short, stop at 1750.00, targetting at 1650/30 Levels

 

Good Luck!

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

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McDonald's Stocks Review on Point and Figure Chart

2012-09-13 11:55:46 (читать в оригинале)

 

McDonald’s stocks continued to go down.
Taking into account the upside move, we can suggest that overcoming of support line 91.0 was false.
It signifies about the probable ascending movement to the resistance level of 92.0.
It is better to sell stocks after the support level of 88.6 is broken through.
Axel’s Levels for Today:
Daily pivot point: 91.01.
If the price is above the pivot point, the asset is bullish.
If the price is below the pivot point, the asset is bearish.

 

Resistance 1: 91.41
Resistance 2: 92.02
Support 1: 90.4
Support 2: 90.0
Today we recommend buying MCD stocks after the resistance level of 91.41 is overcome.

 

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

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EurJpy Spikes, But Structure Remains Bearish.

2012-09-13 11:46:01 (читать в оригинале)

 

Technical Outlook and Chart Setups:

Structurally the picture remains unchanged for now. Bulls attempted a break yesterday but failed to do so. Bottomline: "Till the time resistance at 102.00 level is intact, bears will regain control". Prices are just above the 0.786 resistance of the earlier downswing as shown above. It is recommended to continue holding short positions for now. Strong support does not come before 99.00 levels. On the other hand, if the bulls manage to break past 102.00 levels, the wave structure shall begin to take bullish curve. We shall review the chart setup again and position accordingly. Bearish potential remains real for now.

Trade Recommendation:

Remain short, stop at 102.00.

 

Good Luck!

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

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GbpChf Testing Trendline Support Again...

2012-09-13 11:44:33 (читать в оригинале)

 

Technical Outlook and Chart Setups:

The overall structure remains constructive for bulls. At the moment, prices are testing trendline support passing through 1.5080-1.5100 levels. As depicted above, the 0.5 Fibonaci support line is also passing around the 1.51 mark and past resistance turned to support as well embarks the same price levels. Considering the above three convergance levels, it is indicative that a rally is on the cards now. Maket is just moving sideways, in view of a major fundamental news to be out today. This is just a phase where most traders wait for major fundamentals to be out before they enter with conviction. Technically, bulls are ready for the rally. We humbly suggest traders to take long positions for now. Risk-Reward ratio is the best right now.

Trade Recommendations:

No change. Remain long with stop at1.4900.

 

Good Luck!

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