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Fundamental Analysis For November 08, 2012

2012-11-08 18:00:23 (читать в оригинале)

The New York Stock Exchange on Wednesday suffered its worst decline of the year, with the Dow Jones falling by 2.42%.

Although, there are different arguments that explain this movement, as the next "war" between the Obama administration and the opposition over the issue of the fiscal deficit, which is certainly not new and has been getting worse every month in the last four years - the reality is that markets do not look favorably on the outcome of the elections and as technically expected, the lowest of the major actions was immediate.

Mario Draghi, President of the ECB, will start at 8:30 Eastern its monthly press conference, following the announcement of the ECB's monetary policy.
The euro suffers, like the pound, the franc and other hard currencies the consequences of what is happening daily. A low of Wall Street Obama's reelection, the new wave of pessimism in Europe, and data that do not help, adds an uncertainty about the future of Greece, every two weeks it is making headlines, presenting no good news.

In this context, the yen again is looming as a refuge for investors.

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

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USD/CAD Intraday Technical Analysis and Trading Recommendations for November 8, 2012

2012-11-08 17:22:48 (читать в оригинале)

 

The USD/CAD pair has been trending down when a bullish breakout above the bearish daily channel took place. However, the potential downside move remains valid as long as the pair is trading below 1.0040 and below 1.0000 area, the psychological resistance.
On Friday, further downside movement was anticipated when the USD/CAD pair gave strong bullish reaction towards 0.9950 - 0.9925, a confluence of previous consolidation range acting as support.
Yesterday intraday support around 0.9925 was broken down allowing the USD/CAD pair to initiate a strong bearish swing approaching the lower limit of the depicted bullish channel around 0.9850.
Price Zone 0.9850 - 0.9810 constituted an Intraday Support zone corresponding to the lower limit of the channel.
Price Level 0.9975 constitutes a significant intraday resistance which provides a valid SELL entry.

Support: 0.9950,0.9925,and 0.9875.
Resistance:0.9990,1.0010, and 1.0040.

Recommendation

Obvious breakdown below 0.9925 supported the bearish scenario in the short-term targeting 0.9860 - 0.9840 initially.
Price Action towards the price zone 0.9975 should be watched carefully for a possible valid SELL entry with SL is located below 1.0010.  

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for November 8, 2012

2012-11-08 17:20:02 (читать в оригинале)

The GBP/USD pair has been fluctuating heavily within the past few weeks after the broken DAILY bullish channel was retested around the price zone of 1.6160 - 1.6180, failing to maintain a directional trend.
The false breakout above the short-term descending resistance depicted on the chart was maintained at Daily Resistance Level 1.6160 activating the bearish scenario, which anticipates further downside pressure this week, possibly towards 1.5850 initially. However, obvious bullish reaction took place towards 50% Fibonacci (1.5930) today.
The price action should be watched carefully around 1.5960 which is considered to be the key level of the coming movement. A breakdown below allows and confirms the bearish scenario in the short term.
Consolidation below the Intraday Support Price Level 1.5900 is necessary to resume the expected bearish movement

Support: 1.5975 and 1.5920. 
Resistance:1.6050,1.6075, and 1.6125.   

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

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GBP/USD: Technical Analysis for November 8, 2012

2012-11-08 17:15:54 (читать в оригинале)

Weekly Pivot Point: 1.6069.

 

 

Weekly Pivot Points:
R3: 1.6299
R2: 1.6237
R1: 1.6131
PP: 1.6069
S1: 1.5963
S2: 1.5901
S3: 1.5795

GBP/USD "Pound-Dollar":
Resistance: 1.6130 (sell below this level).
Support: 1.5900 (buy above this level).

Trading Recommendations:
According to the previous events, the price is still between the levels of 1.5950 and 1.6070.
The descending movement will probably be lower than 1.6130 level with the first targets at 1.5960 and 1.5903 levels.
Buy deals are recommended above the 1.5900 level with targets at 1.6012 and 1.6125 levels.

Overview:
It should be noticed that the market showed the signs of instability. The trend movement was controversial as it took place in the narrow sideways channel. Due to the previous events, the price is still between the levels of 1.5950 and 1.6070, 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 1.5900 level with their first target at the level of 1.6012. From this point, the pair is likely to begin an ascending movement to the point of 1.6080 and further to the level of 1.6125. However, if the pair fails to pass through the level of 1.6130, the market will indicate a bearish opportunity below the strong resistance level of 1.6130. In this regard, sell deals are recommended lower than the 1.6130 level with the first target at 1.6045. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.6063 then 1.5901 (the weekly support 1).

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

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

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NZD/USD: Technical Analysis for November 8, 2012

2012-11-08 17:13:23 (читать в оригинале)

Overview:

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

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