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AUD/USD Around EMA 200 for August 30, 2012 (Daily Strategy)

2012-08-30 18:55:10 (читать в оригинале)

 

The Australian dollar remains under downward pressure as market sentiment remains weak due to weak construction and mining data in Australia. Now we are approaching to the 200 day moving average periods (blue). This is a key point because a close below this level would increase the chances of a new bearish sequence.
Therefore, this gives us the option to buy at this level or sell below it. Only if the pair closes below the 1.0315 level, we recommend selling with objectives to the fractal of 1.0215, a break of this level will signify mass sales of the pair to 1.0006.

 

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Fundamental Analysis, for August 30, 2012

2012-08-30 18:52:06 (читать в оригинале)

 

From time to time markets are expressing caution and uncertainty at the same time as they wait for new steps. Under such circumstances, the dollar did not show any significant moves.
But do not be misled by this quiet period when the moves are imprecise and hard to predict. But at the same time they can be of great importance, however, can be repeated from time to time.
During the last hours the Canadian dollar rebound from some highs but did not lose its uptrend against the leading currency.
Same situation can be observed with gold, although its current bearish correction seems to be reversal.
The euro, the pound, the Swiss franc, and the yen did not change their price trend. The yen has lost some of its interest as currency is trading at its junction with the dollar, and its daily price range does not exceed 20 points.
Last hours are decisive for Europe as Ben Bernanke, the Fed’s chairman, will announce about the following steps. And this event will end the market calm.
The rest of the day does not seem to change the current situation much. The data released on consumption and personal income is not so impressive. The same can be said towards weekly jobs requests in the USA.
Dow Jones should illustrate what will happen to the currencies. The index gained just 10 points. But we recommend not relaxing as all good things come to an end.

 

  

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

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USD/CAD Intraday Technical Analysis and Trading Recommendations for August 30, 2012

2012-08-30 15:48:34 (читать в оригинале)

The USD/CAD pair was trading in oversold position within a wide range bearish channel which is depicted on the chart in red, when the pair broke through the upper limit of the short term bearish channel presented on the chart in Blue indicating a possible bullish retracement towards price level of 0.9970 seen on Wednesday with two successful retestings of the backside of the broken channel at 0.9888 then at 0.9845 on Tuesday.
Breakout above the bearish Blue channel gives the opportunity for the USD/CAD pair to visit the upper limit of the longer term channel around the price level of 1.0025 as long as the pair is trading within the current consolidation range above 0.9845. However, the pair found resistance around price level of 0.9945 which pushed the USD/CAD pair to the backside of the broken channel 0.9845 again before further continuation of the bullish movement.
Price level of 1.0025 corresponds to Fibonacci levels of 50% and 78.6% of the most recent two bearish swings. That's why price action should be watched there for a valid long term SELL entry with SL located above 1.0080.

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GBP/USD Intraday Technical Analysis and Trading Recommendations for August 30, 2012

2012-08-30 15:44:39 (читать в оригинале)

 

 

The GBP/USD pair has resumed its bullish movement recording a higher high last Thursday at 1.5912 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 tested showing a strong bullish price action which indicated a valid low risk BUY entry as expected with SL located below 1.5700.
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 price level of 1.5850 is essential today in order to reach the next resistance level at 1.5910.

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EUR/USD: Intraday Technical Analysis for August 30 - 31, 2012

2012-08-30 14:16:37 (читать в оригинале)

Weekly Pivot Point: 1.2465

Time Frame: H1

 

Weekly Pivot Points:

R3: 1,2930
R2: 1,2760
R1: 1,2635
PP: 1,2465
S1: 1,2340
S2: 1,2170
S3: 1,2045
 

Trading Recommendations:

According to the previous events, the price is still located between 1.2450 and 1.2650.

• Buy deals are recommended above 1.2460 with the targets seen at 1.2590 and 1.2675 levels.
• Look for further downward movement below 1.2760 with the first target seen at 1.2710 and 1.2603 levels.

Overview:

The EUR/USD pair has broken the resistance level and turned towards the support level near the two week point of 1.2465 (August 22, 2012). Therefore, the pair has already formed a strong support at 1.2465. Moreover, having failed to close below 1.2465 (which became a weekly pivot point for August 27 - 31, 2012), the pair started showing a bullish reaction at this level. It is necessary to mention that these levels coincide with strong levels for bulls on H1 chart; the pair has also formed a strong support at the level of 1.2460. So, the pair will move upwards which is a convincing fact; the structure of the upside movement looks as non-corrective indicating a bullish opportunity above 1.2460. This can be a good sign for buy deals above 1.2460 with the first target at 1.2590 initiating an uptrend in order to continue the bullish mood towards the point of 1.2650 and further to 1.2700. If the trend breaks the weekly resistance-1- (1.2635), then the pair will go upwards in these targets. However, it should also be noted that the price is still between 1.2450 and 1.2650, as the last strong resistance level (1.2760) is still able to begin a downtrend at this level. So the market indicates a bearish opportunity at the level 1.2760 on H1 chart with the first target 1.2710 and continues towards 1.2603.

Observation (s):

• If the trend is ascending, then the strength of the currency will be defined as following: EUR is an uptrend and USD is a downtrend.
• Most of the traders use the Fibonacci retracement to determine accurately the psychological support and resistance levels.
• Stop Loss should NEVER exceed your maximum exposure amounts.
• Usually the market has a high volatile, if the last day had a huge volatility.
  

 

 

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

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