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GBP/USD Fractal 1.5956 - For August 31, 2012 (Daily Strategy)

2012-08-31 18:44:17 (читать в оригинале)

 

The pound has a bullish outlook against the dollar in the short term, trading between 1.5910 and 1.5770, exceeding the 1.59. The currency can add upward force to the pair, although the indicators show depletion in the upward and overbought signal. So, I prefer to go in the direction of the correction to find trapped in a resistance level. Given that now everyone is wondering whether the Fed will implement a plan to stimulate the economy by buying cash bonds, which would, if carried out, result in a huge boost to equity markets, particularly currencies.
Therefore, we recommend selling at the resistance of 1.5956 (fractal) with objectives to 1.5801, this serves as a part of the downward correction.
Our outlook remains bullish above 1.5750.

 

If you need a personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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- Expectations About the Speech Ben Bernanke at Jackson Hole - Fundamental Analysis, for August 31, 2012

2012-08-31 18:40:25 (читать в оригинале)

 

Unemployment rate remained in the Eurozone unchanged due to unexpected rise of consumer price index in July which pushed the euro higher leaving its lateralization to the dollar.
Other leading currencies also managed to recover positions, but the dollar had better times. In their turn, the European stock markets closed Friday's session with operating profit of 1.4%, very high values ​​that were handled in the upcoming days.
These movements tend to occur later this month, contributing to profit-taking corrections while contract expirations generate some rallies expected on short notice.
There is a huge expectation ahead of the speech of Fed Chairman Ben Bernanke which will be delivered at 10: 00 ET as part of the symposium that is held in Jackson Hole.
Markets waiting anxiously for any Bernanke’s announcement, in anticipation of the steps which will be followed by the Fed at its next policy meeting which will take place in two weeks. Without embargo expectations definitely should be lower. It will be difficult for Bernanke to leave many doors open with so many days ahead, with much employment data and August inflation before that meeting.
The question goes is whether the Fed will implement a plan to stimulate the economy by buying cash bonds, which would result in a huge boost to the stock markets, especially European currencies.
The undersigned impression is that this plan is going to be implemented, but not on the date when it is clear who will be deployed effectively. What you might expect is Bernanke’s usual skepticism sample together with pessimism about the future of the U.S. economy.
Technically, this possibility can be clearly seen. EUR / USD crossing has a significant uptrend on the daily chart, perhaps with some signs of exhaustion and we can see a correction in the coming hours. But apparently such behavior indicated that the single currency will fetch area from 1.2850 to 1.30 in a few days before changing its course to the downside again.
After the usual downward correction 1.2605 which could push the euro back to 1.2590 we will see another scenario. Overcoming of this resistance, will stretch the rally to 1.2630 and above 1.2655 / 60. Above that level the next target is 1.2705. On the downside 1.2570 is support now, with the next targets of 1.2535 and 1.2515.
The pound has a bullish outlook against the dollar in the short term, although somewhat more moderate. The yen remains unchanged, currencies linked to oil gain new force before the rise of the barrel price in the last few hours. But there are no major changes, and the Australian dollar, ailing all week, resumes an upward trend that can be much longer if it exceeds 1.0410 during the American session.

 

 

If you need  personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

If you like my Fundamental analysis, please vote for me, at the portal MT5.com please login and then vote for me. Thanks.

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

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Silver Technical Levels and Trading Recommendatios for Aug 31, 2012

2012-08-31 16:52:05 (читать в оригинале)

Overview

The H4 chart demonstrates today that silver takes an upward movement after bouncing from the Support level of 30.30. Presently silver is trading between the Support level of 30.30 and the Resistance level of 31.00. If silver continues the upward movement and manages to break this Resistance level, it will provide a good opportunity to buy above the Resistance level as well as make it possible to reach the Resistance level of 31.40 as the 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 31.40 and close 4H above, we will get a bullish strength which will provide new buy signals and enable the Resistance level of 32.00 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 31.00, it will be a strong indicator for the bearish move after closing 4H below the Support level 30.30 enabling the Support level 30.00. 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 31.00 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(32.00)
R2(31.40)
R1(31.00)

S1(30.30)
S2(30.00)
S3(29.50)

Trading Recommendations

According to the previous analysis, we recommend buying in case of closing 4H above the Resistance level 31.00 with TP 31.45; SL closing 4H below the Resistance level might be appropriate.

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

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EUR/USD Intraday Technical Analysis and Trading Recommendations for August 31, 2012

2012-08-31 15:50:32 (читать в оригинале)

 

 

The EUR/USD pair is demonstrating a strong bullish movement which was maintained within the depicted bullish channel. However, on Friday the market witnessed some bearish retracement in reaction to the upper limit of its movement channel around the price level of 1.2580.
This week the EUR/USD pair managed to break down the short term uptrend line depicted on the chart after finding resistance around the price level of 1.2570. However, the pair came back to consolidate above the trendline as depicted on the chart.
The most significant Resistance level is located around 1.2580. This price level was tested last week expressing bearish reaction which pushed the EUR/USD pair strongly to the downside.That's why a low risk SELL entry is suggested at retesting which is taking place now with a tight SL located above 1.2630.

The lower limit of the movement channel and two important Fibonacci levels & SMA 100 are located between 1.2310-1.2360 where price action should be watched for a valid low risk BUY entry with SL located below 1.2230 which corresponds to 78.6% of Fibonacci level.

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for August 31, 2012

2012-08-31 15:49:07 (читать в оригинале)

 

The GBP/USD pair has resumed its bullish movement recording a higher high  at 1.5912 last Thursday after breaking through 1.5750 and reaching the upper limit of the depicted channel which served as supply zone for the pair.

GBP/USD bullish movement was maintained within the depicted movement channel. However, on Friday the market witnessed some expected bearish retracement which was seen on Tuesday too.
The lower limit of the movement channel as well as the significant Support level, located between 1.5750-1.5770 were suggested as a valid low risk BUY entry  with SL located below 1.5700 which was triggered today.
The most significant Resistance level is located around 1.5910; this price level was tested last week expressing obvious bearish reaction which pushed the GBP/USD pair towards the lower limit of the depicted movement channel yesterday. That's why bullish movement should break through this level in order to make other bullish swings.
Breakthrough above the price level of 1.5850 is essential today in order to reach the next resistance level at 1.5910.

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