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Silver Technical Levels and Trading Recommendatios for Aug 30, 2012

2012-08-30 12:25:47 (читать в оригинале)

 

 

 

Overview

The H4 chart demonstrates today that silver is still trading between the Support level 30.50 and the Resistance level 31.00. Presently silver is approaching the Resistance level 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 30.50 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(30.50)
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 Wave Analysis for August 30, 2012

2012-08-30 12:25:25 (читать в оригинале)

 

Wave Analysis:
During yesterday's trading session, EUR/USD failed to get over 1.2570 which resulted in price drop towards the lower line of the uptrend channel. Thus, the currency pair is of wait-and-see attitude which enables the growth within the boundaries of wave 5. In case of negative news, the pair may resume its downward move towards 24-level figure. Given that, indicators demonstrate unstable balance in which the market can operate till Bernanke’s speech on Friday.
Targets for Down Wave 1 or a:
1.2521 – 23.6% Fibonacci
1.2478 – 38.2% Fibonacci
Targets for Wave 5 into 5:
1.2568 – 161.8% Fibonacci
1.2613 – 200.0% Fibonacci
Summary and Trading Recommendations:
The most probable outcome is the continuation of the uptrend channel which was formed in 5 wave. Wave 5 into 5 may also continue its move enabling the rise towards 1.2568 and 1.2613 which is equal to 161.8% and 200.0% Fibonacci. The uptrend channel indicates the upward trend area, fixing below which will indicate a stronger downward move. After 5 into 5 wave formation, the pair may start going down under 1 or a wave which may push the currency pair lower towards 1.2521 and 1.2478 which is equal to 23.6% and 38.2% Fibonacci.

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

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GBP/JPY Technical Levels and Trading Recommendations for Aug 30, 2012

2012-08-30 12:06:53 (читать в оригинале)

 

 

 

Overview

Proceeding from today's H4 chart, the pair is still trading below the Resistance level of 124.50 and can't break it . If the pair takes an upward move and manages today to break this Resistance level and closes 4H above, we will receive a strong indicator for more bullish signals which will enable the Resistance level of 125.00 as the level target. Then we should wait for breaking this Resistance level to continue the upward move and open the way towards the Resistance level of 125.50.
On the other hand, if the pair fails to break the Resistance level of 124.50 and bounces from it, it may reverse the bullish move taking a downward move which will enable Support level of 123.75 again. Then we should wait for breaking this Support level in order to get new bearish signals. In case the pair is able to break the Support level and closes 4H below, we will get a bearish strength providing new sell signals which will enable the Support level of 123.20 as a level target. Based on the given H4 chart, the technical indicators provide buy signals, but as long as the Resistance level 124.50 is unbroken, the downward move is still expected invalidating the bullish outlook. Therefore, we should wait for more confirmations before making the decision.

 

Resistance and Support Levels

R3(125.80)
R2(125.30)
R1(125.00)

S1(124.50)
S2(124.00)
S3(123.50)

Trading Recommendations

According to the previous analysis, we recommend buying after breaking the Resistance level 124.50 and closing 4H above with TP 125.15; SL closing 4 hours below the Resistance level will be appropriate.

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

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EUR/JPY Intraday Technical Analysis

2012-08-30 11:55:33 (читать в оригинале)

 

 

The spot rate is actually testing the upper limit of its short term bearish channel at 98.80 suggesting a decline. However, a break of this level will free a large potential and initiate violent bullish channel.

 

Technical indicators do not provide clears signals but until the resistance is not broken the hypothesis of a decline is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short term.
As the spot rate tests the upper limit of its channel, we recommend 2 scenarios: the first one is the hypothesis of a decline where we suggest selling at the level of 98.80 with the 1st objective at 98.20 and then at 98.00. A breakthrough 99.00 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 98.80 with the 1st objective at 99.40 and then at 99.60. A breakthrough 98.60 will invalidate this scenario.

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

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GOLD Intraday Technical Analysis

2012-08-30 11:52:28 (читать в оригинале)

 

 

Gold has tested the upper limit of its medium term bullish channel at 1,678 and declined. It approaches now the intermediate support of this one at 1,647 suggesting a rebound. However, a break of these levels will release large potential and reach the lower limit of its channel at 1,575.
Technical indicators provide sell signals and evolve in overbuy zone supporting the assumption of a decline. Bollinger bands are much discarded as a result of a strong increase of these days. Stabilization is expected in a short term. Furthermore, the superior band strengthens the upper limit of its channel supporting the hypothesis of a violent movement in case of failure.
As gold tests its intermediate support, we recommend 2 scenarios: the first one is the hypothesis of a rebound where we advise buying at the level of 1,647 with the 1st objective at 1,657 and then at 1,660. A breakthrough of 1,644 will invalidate this scenario. The second scenario is a break of its support where we suggest a “sell stop” which means selling the spot rate as soon as it is broken through its support of 1,647 with the 1st objective at 1,637 and then at 1,635. A breakthrough of 1,650 will invalidate this scenario.

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