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EUR/JPY Candlestick Analysis for September 11, 2012

2012-09-11 12:43:07 (читать в оригинале)

Daily

After being in narrow sideways channel for two weeks, EUR/JPY demonstrates a strong quotes growth. On Monday, the pair was near the correctional level of 38.2% - 100.71 Fibonacciб according to new Fibo-net. Bearish candlestick formation Harami signifies about probable quotes reverse in favor of the Japanese yen. For this reason, we can observe a quotes rebound which can extend until the correctional level of 23.6% - 98.15. On the other hand, if the quotes fix above Fibonacci 38.2%, the rate may go up further towards the correctional level 50.0% - 102.73. Building of bullish candlestick formation will contribute to quotes growth.

4h

4-h chart also demonstrates an ascending move after several weeks of lull. On Friday, we witnessed the rate fixation above the correctional level of 76.4% - 99.85 Fibonacci. After that, two bearish candlestick formations Shooting Star and Harami were built. However, they did not help the quotes to go further down the correctional level of 76.4%. That is why the quotes are still below Fibonacci 76.4% and the quotes growth towards the correctional level of 100.0% - 101.62 is possible. If the rate holds below Fibonacci 76.4%, the pair may fall towards 61.8% - 98.74. Bullish candlestick formation will strengthen the expectation of rebound from the level of 76.4% Fibonacci.

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

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GBP/USD. Forecast for September 11, 2012

2012-09-11 12:21:53 (читать в оригинале)

 

Today we are anticipating positive data on trade balance from the UK (12:30 GMT +3). Visible trade balance is expected to be -9.0 mln pounds against -10.119 bn pounds in June. Trade balance non EU will reach unrevised -4.5 bn pounds in contrast to -5.175 bn pounds in June. Total trade balance should hit the reading of -3.2 bn pounds against -4.3 bn pound.
At 16:30 (GMT +3) the USA will disclose its trade balance. The indicator is forecasted to fix at -44.0 bn dollars compared to -42.9 bn dollars in June.
Technically, we expect the growth towards trend lines resistances on 4H chart at 1.6046 and fixation above them.

 

  

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

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McDonald's Stocks Review on Point and Figure Chart

2012-09-11 12:05:38 (читать в оригинале)

 

MCD stocks got over the resistance level of 90.8.
Now it is a great opportunity to sell the securities.
A significant price deviation from the major line of the uptrend also indicates stock’s fall.
The primary target for the sellers will be the support level of 90.0.
Axel’s Levels for Today:
Daily pivot: 91.24.
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: 91.58
Resistance 2: 91.83
Support 1: 90.99
Support 2: 90.65
It is recommended to sell MCD stocks today.

 

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

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Dollar Fell Against its Counterparts

2012-09-11 11:56:21 (читать в оригинале)

 

The dollar dropped against its major counterparts ahead of the 2-days FCOM meeting.
DXY index, that IntercontinentalExchange Inc uses to monitor the dollar’s movements against 6 major currencies of the US main business partners, slashed towards 4-month low amid the speculations about the next QE3 by the Fed. Demand for the euro was limited before the reports were released this week.

 

 

 

Many experts think that the Fed will state about further easing measures. If QE3 is launched, the dollar will continue its downward move.
The Fed bought securities for $2.3 bn from 2008 to 2011 during two rounds of so-called quantitative easing. On August 31, Ben Bernanke expressed support to such measures in his speech and suggested following steps for fighting against high unemployment rate, the issue that is of great importance now.
However, the economists are still pessimistic about the euro as there are real threats for the EZ economies.
Greece is still in focus. The leader of the left-wing party reported that the decision about reduction of expenses was not taken. Moreover, he added that poor citizens must be protected against austerity measures.
George Soros said recently that while Germany requires more austerity measures from Europe, it will deep further to recession. As the result, the crisis will hit Germany itself in the upcoming 6 months.

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

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EUR/JPY Intraday Technical Analysis

2012-09-11 11:36:33 (читать в оригинале)

 

The spot rate tested yesterday the intermediate support of its medium term bullish channel at 99.70 supporting the hypothesis of a rebound. However, a break of these levels will free a large potential and reach the lower limit of its channel at 98.30.

Technical indicators provide sell signals but until the support is not broken, the assumption of a rebound is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

As the spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios: the first one is the hypothesis of a rebound where we recommend a buy on the level of 99.70 with the 1st objective at 100.30 and then at 100.50. A breakthrough of 99.50 will invalidate this scenario. The second scenario is a break of its support then we advise a “sell stop” which means selling the spot rate as soon as it is broken through its support of 99.70 with the 1st objective at 99.10 and then at 98.90. A breakthrough of 99.90 will invalidate this scenario.

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