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GBP/USD Intraday Technical Analysis

2012-09-06 12:50:46 (читать в оригинале)

 

The spot bounced off yesterday to the lower limit of its medium term bullish channel at 1.5830 and tests now the intermediate resistance of this one at 1.5940 suggesting a decline. However, a break of these levels will free a large potential and enable the upper limit of its channel at 1.6050.

Technical indicators do not provide clear signals but approach an overbuy zone suggesting a decline and until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility. Furthermore, the superior band strengthens the intermediate resistance supporting the hypothesis of a violent movement in case of failure.

As the spot rate is currently testing the intermediate resistance of its channel, we recommend 2 scenarios: the first one is the hypothesis of a decline where we suggest a sell on the level of 1.5940 with the 1st objective at 1.5880 and then at 1.5860. A breakthrough of 1.5960 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” that’s means to buy the spot rate as soon as it is broken through its resistance of 1.5940 with the 1st objective at 1.6000 and then at 1.6020. A breakthrough of 1.5920 will invalidate this scenario.

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

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EUR/USD Intraday Technical Analysis

2012-09-06 12:46:38 (читать в оригинале)

 

The spot rate bounced off to the lower limit of its medium term bullish channel and broke the intermediate resistance of this one at 1.2580 leading to an acceleration. A pull back on these levels is expected before reach the upper limit of its channel at 1.2660.

Technical indicators provide sell signals but until the support is not broken, the assumption of a pull back is most likely. Bollinger bands have stabilized showing a more regular volatility. Furthermore, the spot rate evolves at the levels of superior band supporting the hypothesis of a pull back in short-term.

As the spot rate tests the lower limit of its channel, we recommend 2 scenarios: the first one is the hypothesis of a pullbakc where we suggest a buy at the level of 1.2580 with the 1st objective at 1.2640 and then at 1.2660. A breakthrough of 1.2550 will invalidate this scenario. The second scenario is a break of its support where we advice a “sell stop” which  means to sell the spot rate as soon as it is broken through its support of 1.2580 with the 1st objective at 1.2520 and then at 1.2500. A breakthrough of 1.2600 will invalidate this scenario.

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

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EUR/JPY Candlestick Analysis for September 6, 2012

2012-09-06 12:40:44 (читать в оригинале)

Daily

Due to low volatility, the EUR/JPY rate is still flat. Candlestick formations which are being formed from time to time, do not affect the price. We have just seen bullish Harami and bearish Long Legged Doji. However, they cannot move the quotes significantly. Thus, when the flat is over, the rate may grow towards correctional level of 76.4% - 100.44 Fibonacci. At the same time, it can also fall towards 100.0% - 97.01 of Fibonacci. On 4H chart the flat is even more obvious, that is why let us examining this chart better.

4h

On 4H chart the rebound from correctional level of 61.8% - 98.74 Fibonacci was not unexpected as well as the rebound from correctional level of 50.0% demonstrated earlier. The bullish candlestick formation Absorption was formed which enabled the rise towards Fibonacci level of 61.8%. Now we can expect the rebound from that level without bullish formation with the quotes fall towards 50.0% - 97.86. Overcoming of 50.0% and 61.8% contributes to upward or downward movement respectively. However, fixation above the correctional level of 61.8% is not meaningful as the sideways channel boundary is placed at the level of 99.00.

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

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EUR/USD. Forecast for Septembeer 6, 2012

2012-09-06 12:24:59 (читать в оригинале)

 

As we expected, services PMI in the Eurozone was below the forecasts: 47.2 against 47.5. Amid the overall statistics, the euro was falling down until the ECB announcement about its intention to perform bond purchase program without limitations (which reminds of the Fed plans to buy securities without any restrictions). To prevent inflation, the CB will sterilize the excessive liquidity by taking it back to the deposits or withdraw from commerce.
Thus, at 15:45 (GMT +3), the ECB will decide on the key interest rate and will report about intervention program. But before this they will release Eurozone GDP for the second quarter. It should lose 0.2% according to the forecasts. At 14:00 German manufacturing orders will be disclosed: the indicator will gain unrevised 0.3% against 1.7% fall in June. If the data is below the forecasts, it will strengthen investors’ appetite to bond’s purchase which will lead to refusal to sterilize money supply (which should be used for real sector development and other measures of support) as well as reduction of margin requirements on refinancing operations, cut in the key interest rate from 0.75% to 0.5%. In the mid-term, purchase of Spanish and Italian bonds may not be implemented as these countries must first ask for bailout officially from the EU. But they are not hurry to do it. In its turn, the EU is talking about shrinking of government expenditures and sovereign cut as well.
At 16:30 (GMT +3) we are waiting for Mario Draghi’s conference. Investors hope that the last two weeks were fruitful as any of the ECB representatives visited Jackson Hole conference. Thus, they are waiting for some unusual decisions.
Technically, the first target for growth is the point of trend lines crossing on daily chart at 1.2670. Further, the resistance at 4H chart at 1.2706 is expected. The next target is 1.2740 (high of June 20).

 

  

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

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McDonald's Stocks Review on Point and Figure Chart

2012-09-06 11:36:40 (читать в оригинале)

 

McDonald’s stocks resumed their upward move as it was widely expected, having rebound from the major uptrend line 89.0.
Now the main target for buyers is the resistance level of 89.8. After it is breached, it will be possible to reach 90.4.
In case the support level of 88.6 is taken, the prevailing tendency will change to downward and we will get a sell signal.
Axel's levels for today:
Daily pivot point: 89.11.
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: 89.38.
Resistance 2: 89.72.
Support 1: 88.77.
Support 2: 88.50.
We recommend buying MCD stock today after the resistance level of 89.38 is broken through.

 

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