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Silver Technical Levels and Trading Recommendatios for September 10, 2012

2012-09-10 14:25:10 (читать в оригинале)

 

 

Overview

Proceeding from today's H4 chart, silver is still stabilizing between the Support of 33.30 and the Resistance level of 34.00 after taking an upward move last week. If silver continues its bearish move and manages to break the Support level of 33.30, this will give a strong indicator for the downward move and open the way towards the Support level of 32.40, then we should wait for the breakout of this level to continue the bearish move.
On the other hand, if the pair doesn't break the Support level of 33.30 and reverses its downward move, it may be a good opportunity for a bullish signals enabling the Resistance level of 34.00. The breakout of this Resistance level will denote a bullish strength providing new buy signals from this level till reaching the Resistance level 34.40 then 35.00.

Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level 33.30 is unbroken, the upward move is still expected and invalidating the bearish outlook. Therefore, we should wait more confirmations before making the decision.

Resistance and Support levels

R3(35.00)
R2(34.40)
R1(34.00)

S1(33.30)
S2(32.40)
S3(32.00)

Trading Recommendations

According to previous analysis, we recommend selling in case of breaking the Support level of 33.30 with TP 32.50; SL closng 4 hours above 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 10, 2012

2012-09-10 14:23:11 (читать в оригинале)

 

Overview

Proceeding from today's H4 chart, the pair takes a slightly upward move after its rebound from the Support level of 125.00 yesterday and currently the pair is testing the Resistance level of 125.30 trying to break it in order to continue its bullish move. If the pair is able to break this Resistance level and close 4H above, it will be a strong indicator for the bullish movement enabling the Resistance level of 125.70.
If the pair manages to close 4H above this Resistance area, this will indicate a bullish strength providing new buy signals.
On the other hand, if the pair doesn't break the Resistance level and bounces from it to reverse its bullish move taking a bearish trend, in this case, we should wait for the breaking of the Support level of 125.00 to get bearish signals enabling the Support level of 124.75, in case of breaking this level as well, we recieve a bearish strength providing new sell signals from this level till 124.50 as a level target. Based on the given H4 chart, we can find that the technical indicators provide bullish signals, but as long as the Resistance level 125.30 is unbroken, the downward move is still expected and invalidating the bullish outlook. Therefore, we should wait more confirmations before making the decision.

Resistnace and Support levels

R3(126.30)
R2(125.70)
R1(125.30)

S1(125.00)
S2(124.75)
S3(124.50)

Trading Recommendations

According to previous analysis, we recommend buying in case of closing 4H above the Resistnace level 125.30 with TP 125.75; SL closing 4 hours below the Resistnace level will be appropriate.

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

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EUR/USD Wave Analysis, Weekly Review

2012-09-10 12:42:33 (читать в оригинале)

 

Wave Analysis:
The slow growth of EUR/USD which started last week, finished with a significant rally which allowed the pair to fix above 28 figure. The quotes’ upward move started from August 16 low still looks like the inner wave structure of wave с with the extension in the wave 5. If it is so and taking into account the ratio between wave a (or wave 1) and с (or wave 3), we can expect a noticeable price rebound from the reached high or from the level of 1.2940 – 1.2950. At the same time, the fact that there is still a divergence between the direction of the main trend and MACD despite strong growth of the pair, we can expect the situation will turn against the euro in any moment.
Target for correctional upward move in the terms of wave 5 in с or 3:
1.2937 – 61.8% Fibonacci
1.3148 – 76.4% Fibonacci
Targets for down wave (probably 1 or a):
1.2595 – 38.2% Fibonacci
1.2384 – 23.6% Fibonacci
Summary and Trading Recommendation:
Last week the euro rate continued its correctional upward trend. Thus, the quotes rise in the terms of wave 5 in с or 3 is possible towards the levels of 1.2937 and 1.3148 which is equal to 61.8% and 76.4% of Fibonacci. MACD divergence is indicative of the down wave formation. In the terms of this wave, the pair may head to the levels of 1.2595 and 1.2384 which correspond to 38.2% and 23.6% of Fibonacci. However, the ascending channel demonstrates that the upward channel is still valid.

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

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AUDUSD Point and Figure Chart

2012-09-10 12:17:03 (читать в оригинале)

 

AUDUSD on 503 Chart:
The sellers failed to overcome the major uptrend line at 1.02 which resulted in the downward move of the pair.
The main target for buyers is the resistance level of 1.06. After this level is broken, we will be able to reach 1.08.

 

 

AUDUSD on 303 Chart:
The prevailing tendency is downtrend on 303 chart.
Taking into account the trend observed on 503 chart, we are expecting the continuation of the upward movement to the resistance level of 1.049 and further to the resistance level of 1.06.
We suggest to buy the pair.

 

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

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GBP/USD. Forecast for September 10, 2012

2012-09-10 12:11:14 (читать в оригинале)

 

We received important data on the real economic sector of the UK on Friday. The indicators were above expectations: industrial output increased 2.9%, consensus 1.6$. Manufacturing production gained 3.2% against 2.1%. The GDP outlook from NIESR for August was 0.2% in contrast to 0.3% in July. As the result, the pound grew at a slower pace amid the market optimism and closed the day at the level of 77 points.
Today there is no news from Great Britain and the investors will be with the market tendency which is going to be neutral today. Industrial production in China was below expectations: 8.9% y/y against 9.0% while trade balance demonstrated a surplus of 26.7 bn against 18.9 bn. Japanese GDP for the second quarter dropped to 0.2% in contrast to 0.3%, while balance of payment made up 625.4 bn yen against 485.6 bn yen.
Technically, we are anticipating the trading to be in the sideways channel of 1.5975 – 1.6034.

 

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