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EUR/USD Bearish Outlook for August 29 /2012 (Daily Strategy)

2012-08-29 19:11:12 (читать в оригинале)

 

The euro is trading above the psychological level of 1.25; we have seen that the pair demonstrated a recovery these days. This upward movement is more likely based on the idea that the Fed will provide more monetary easing and the ECB will probably do something of this magnitude. But of course, we will be probably disappointed. Because of this, it is really difficult for the market to operate now.
We, therefore, recommend being very cautious when buying, as before the rise there will likely be a correction to the level of 1.24.
Therefore, we recommend selling if the price closes below the daily pivot of 1.2535 or if gives a pullback to the level of 1.26. Sell with targets at 1.2464 and 1.2390.
Our outlook remains bearish below the level of 1.27.

 

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GBP/USD Bullish Outlook for August 29, 2012 (Daily Strategy)

2012-08-29 19:07:52 (читать в оригинале)

 

The British pound has been trading in the range of 1.5450 -1.5765 for three months. Now the pair is trading above the 1.5765 resistance level, which now serves as a very strong support. The fact that the pair has returned to that level and then bounced from it, increases the likelihood of a very strong bullish turn with a very strong traffic levels of 1.5850 -1.5960 (strong resistance). We can sell cautiously below these levels because there is a low volatility these days. If you prefer to buy, we recommend having a look at daily support levels.
It is most likely that the pair can quote at 1.60 level by September. Our outlook is bullish in the medium term above 1.5700.

 

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

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Fundamental Analysis, for August 29, 2012

2012-08-29 18:50:40 (читать в оригинале)

 

Activity on Forex is very slow these days as the result prices in USD pairs are mostly the same to those of the last 24 hours.
We do not have much of macroeconomic data. But above all, investors are expressing caution and for this reason major currency pairs demonstrating a lower activity like during the holidays.
The main reasons for this phenomenon are in two different points: first, the lack of clarity from Europe regarding the debt crisis affecting several countries in southern Europe. The issues are not solved as there is no specific aid; it is just a time-saving method. But it is not recommended in this situation. Moreover the markets are expecting the Fed meeting in Jackson Hole, scheduled for Friday. It is considered that there will be important announcements made by Chairman Bernanke with the FOMC meeting in sight. But there are yet some concerns which make stock markets move very careful.
In this context, the euro is moving in a narrow price range, not exceeding 1.2580, but neither falls from 1.2530. The short term charts remains the single currency with an uptrend, and the break of the mentioned above resistance stretch rally crossing at least to 1.2605, the first firm target. At the same, the area of 1.2630 can be taken into account.
The pound also moves within a very narrow band, presenting a clearer upward trend in the short term and could reach 1.5880 in the next few hours.
Meanwhile, the yen remains unchanged, and the Canadian dollar remains in the weak uptrend, you could lose the break of 0.9905.
As for the reports of the day, we are waiting for pending home sales at 10:00. At 10:30 there will be the turn of oil inventories, and at 2:00, the Fed's Beige Book, which will be closely followed by the markets.

 

 

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

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GBP/USD: Intraday Technical Analysis for August 29, 2012

2012-08-29 15:49:28 (читать в оригинале)

 

Weekly Pivot Point: 1.5801.

 

 

Weekly Pivot Point:

R3: 1.6158
R2: 1.6036
R1: 1.5923
PP: 1.5801
S1: 1.5688
S2: 1.5566
S3: 1.5453

GBP/USD "Pound-Dollar":
• Resistance: 1.5910 (sell below this level).
• Support: 1.5700 (buy above this level).

Trading Recommendations:

According to the previous events, the price is still between the levels of 1.5750 and 1.5825.

 

• The descending movement will probably be lower than 1.5910 level with the first target at 1.5855 and 1.5801 levels.
• Buy deals are recommended above the 1.5700 level with targets at 1.5777 and 1.5861 levels.

 

Overview:

It should be noticed that the market showed the signs of instability. The trend movement was controversial as it took place in a narrow sideways channel. Due to the previous events, the price is still between the levels of 1.5750 and 1.5825, so it is recommended to be careful while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then the market will probably show the signs of a bullish trend. In other words, buy deals are recommended above 1.5700 level with their first target at the level of 1.5777. From this point, the pair is likely to begin an ascending movement to the point of 1.5815 and further to the level of 1.5860. However, if the pair fails to pass through the level of 1.5910, the market will indicate a bearish opportunity below the strong resistance level of 1.5910. In this regard, sell deals are recommended lower than the 1.5910 level with the first target at 1.5855. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.5801 (The weekly pivot point).

 

 

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for August 29, 2012

2012-08-29 15:47:03 (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 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 Monday too.
The lower limit of the movement channel as well as the significant Support level, located between 1.5750-1.5770 were tested yesterday showing a strong bullish price action which indicated a valid low risk BUY entry 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.

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