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Fundamental Analysis, for August 09, 2012

2012-08-09 18:11:01 (читать в оригинале)

 

The ECB sharply downgraded its growth forecasts for the Eurozone economy from 1% to 0.6% by 2013 which generated euro sale during the last hours.
Data on the US jobs released last Friday affected markets which reflected in a cautious optimism but this mood is over for now. The ECB headed by Mario Draghi failed to take essential steps for easing of EU debt crisis.
The other leading currencies did not change its course in the last 24 hours. The Canadian dollar is very strong, trading below parity against the dollar, although its strength could be cut during the American session with a correction of USD / CAD at its first target of 0.9980.
The Australian dollar also maintains a very strong upward trend, although it has changed the speed of the latest move in that direction. However, the break of 1.0580 could push it back to the next target at 1.0615 then.
The yen does not move from a very narrow range against the dollar price. The Bank of Japan has changed its monetary policy regarding interest rates or the purchase of assets, maintaining the same pace, according to the information appeared a few hours ago.
The United States also have jurisdiction over the trade deficit figure for July. The same could be trimmed by lower energy costs, resulting from lower oil prices. Such data shall have an effect on the main actions of Wall Street. The Dow futures are tending to be slightly bearish which could last for the rest of the day.

 

 

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USD/CAD Intraday Technical Analysis and Trading Recommendations for August 9, 2012

2012-08-09 16:21:43 (читать в оригинале)

 

The USD/CAD pair movement was almost sideways during the previous days of consolidation which is manifested within a slightly bearish direction of the Yellow channel depicted on the chart. In fact, still there's no significant price action until today. However, the USD/CAD pair is approaching the upper limit of the Yellow & Blue channels around 0.9955.
The lower limit of the Violet & Yellow channels around price level of 0.9915 are considered as an intraday Support for the GBP/USD pair and should be carefully watched while being tested for bullish price action in order to catch a BUY opportunity with TP levels located at 0.9950, 1.0030 then 1.0080.
Price level of 0.9955 corresponding to the upper limit of the Yellow channel is regarded as an intraday Resistance level for the pair. If it is broken, that will probably allow the USD/CAD pair to make a bullish movement towards 0.9995 initially.
Bearish breakdown of 0.9900 invalidates the bullish scenario for the current time opening the way towards bearish targets at 0.9940 then 0.9915.

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

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Silver Technical Levels and Trading Recommendatios for Aug 9 , 2012

2012-08-09 16:19:20 (читать в оригинале)

 

 

 

Overview

 

The H4 chart demonstrates today that silver takes a downward move after its rebound from the Resistance level of 28.20 and presently it is approaching to the Support level of 27.90. If silver continues its bearish view and manages to break this Support level, it will provide a good opportunity to sell below the Support level as well as will make it possible to reach the Support level of 27.65 as a level target. After that we should wait for breaking out of this Support level to continue the bearish move. In case silver is able to break the Support level 27.65 and close 4H below, we will get a bearish strength which will provide new sell signals and enable the Support level 27.10 as a level target.
On the other hand, if silver reverses its bearish move and takes an upward direction after its rebound from the Support level 27.90, this will be a strong indicator for the bullish move after closing 4H above the Support level enabling the Resistance level 28.20 again. In this case, we should wait for breaking this Resistance level to continue the bullish view. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level 27.90 is unbroken, the upward move is still expected and invalidating the downward movement. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support levels

R3(29.00)
R2(28.40)
R1(28.20)

S1(27.90)
S2(27.65)
S3(27.10)

 

Trading Recommendations

According to previous analysis, we recommend selling in case of closing 4H below the Support level 27.90 with TP 27.55; SL closing 4H above the Support level might be appropriate.

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

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GBP/JPY Technical Levels and Trading Recommendations for Aug 9, 2012

2012-08-09 15:08:30 (читать в оригинале)

 

 

Overview

 

The H4 chart demonstrates today that the pair is taking a downward move after its rebound from the Resistance level of 123.20. Currently the pair is testing the Support level 122.35 and is trying to break it through to continue its bearish move. Given that the pair manages to break this Support level and closes 4H below, we will receive a strong indicator for more bearish signals which will enable the Support level 122.00 as a level target. Then we should wait for breaking this Support level to continue the downward move and open the way towards the Support level 121.55
On the other hand, if the pair fails to break the Support level 122.35 and bounces from it, it may reverse its bearish move taking an upward move enabling the Resistance level 123.20. Then we should wait for breaking this Resistance level to provide new bullish signals. In case the pair is able to break the Resistance level and close 4H above, we will get a bullish strength providing new buy signals enabling the Resistance level 123.50 as a level target. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level 122.35 is unbroken, the upward move is still expected invalidating the bearish outlook.

Resistance and Support Levels

R3(124.25)
R2(123.50)
R1(123.20)

S1(122.35)
S2(122.00)
S3(121.55)

Trading Recommendations

According to previous analysis, we recommend selling after breaking the Support level 122.35 and closing 4H below with TP 122.00; SL closing 4 hours above the Support level will be appropriate.

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for August 9, 2012

2012-08-09 15:06:52 (читать в оригинале)

 

The main tendency for the GBP/USD pair was bullish this week. As we see, the pair has been moving within three bullish channels which are depicted on the chart. However, the pair is showing some bullish weakness which is manifested in the recent overlapping swings that are taking place within the current Yellow channel.
Yesterday, the GBP/USD pair met the intraday Resistance Level of 1.5665 which expressed a significant bearish price action till now pushing the pair to the downside to test the lower limit of the Violet channel around price level of 1.5645. If this is broken, the pair will be able to resume its bearish movement towards 1.5600, 1.5545 then 1.5505.
The upper limit of the Yellow channel around 1.5690-1.5700 is considered as a strong intraday Resistance Level and a valid SELL entry with SL located above 1.5735.

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