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USD/JPY - Weekly and Monthly Pivot Points for July 16 - 20, 2012

2012-07-16 12:19:59 (читать в оригинале)

 

The pivot point is used as support and resistance at the same time; it is the first level that we observe. For this week the pivot points (weekly and monthly) for USD/JPY are: 79.40 weekly; 79.35 monthly
The Japanese yen is located below the pivot weekly and above the Moving Average of 200 periods (blue).
Therefore, taking into account the pivots points, we can conclude the following:
1) If the price in September is broken by the pivot point in an upward motion, the market is bullish and, conversely, if the pivot point is broken in a downward motion, the market is bearish.
2) They can provide points of market entry and exit as well as can be removed which is useful for trading strategy. For example, a sell limit order can be placed on a level support for opening if this support is broken and the stop loss can be placed for this order in one of the resistances.

Signal For 16 - 20 July
1) Sell short 79.70 with Take Profit at 78.85 and with Stop Loss at 80.00
2) Sell short bellow 200EMA (blue), Take Profit at 78.52

 

____WEEKLY_____
Weekly - R3 = 80.61
Weekly - R2 = 80.28
Weekly - R1 = 79.73
Weekly Pivot = 79.40
Weekly - S1 = 78.85
Weekly - S2 = 78.52
Weekly - S3 = 77.97

 

____MONTHLY____
Monthly - R3 = 84.01
Monthly - R2 = 82.31
Monthly - R1 = 81.05
Monthly Pivot = 79.35
Monthly - S1 = 78.09
Monthly - S2 = 76.39
Monthly - S3 = 75.13

 

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GOLD Intraday Technical Analysis

2012-07-16 12:19:51 (читать в оригинале)

 

Gold is currently testing the intermediate resistance of its medium term bearish channel at 1 597 and seems to initiate a decline. However, a break through these levels will release good potential and will be able to reach the upper limit of this one - 1 620.

Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

Amid the current events the market will provide a bullish opportunity as soon as gold price has broken through its resistance of 1 597 with the 1st objective at 1 610 and then at 1 620. A break through 1 594 will invalidate this scenario.

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

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EUR/JPY Intraday Technical Analysis

2012-07-16 12:18:41 (читать в оригинале)

 

The spot rate is currently testing the intermediate support of its medium term bearish channel at 96.50 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 95.90.

Technical indicators do not provide clear signals but until the support is not broken the idea of a retrace is most likely . Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

In accord to the previous events the market will provide a bullish opportunity at the level of 96.50 with the 1st objective at 97.10 and then at 97.30. A break through 96.30 will alter this scenario.

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

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USD/CAD Intraday Technical Analysis and Trading Recommendations for July 16, 2012

2012-07-16 12:17:45 (читать в оригинале)

 

 

The USD/CAD pair is demonstrating a continuation of the Flag Pattern after the long bullish swing initiated around the price level of 0.9797 on the 1st of May, which is expected to reach the target of 1.0360 then 1.0450 as initial targets for the pattern, when it is confirmed by breakthrough above Price Level of 1.0310.
Since June 4, the USD/CAD pair movement is maintained within the midterm slightly bearish depicted channel with its upper limit located around 1.0300.
Fibonacci level 50% and 61.8% are located at Price levels of 1.0120 and 1.0045 respectively which are regarded as strong Support levels for USD/CAD which are expected to constitute a proper BUY entry with SL located below 1.0030.
During last week, USD/CAD has been trapped within a narrow-ranged price zone between 1.0170-1.0230, the upper limit of which prevented further upside movement of the pair showing bearish price action which pushed the pair to the downside breaking-down the lower limit of the consolidation range as well.
On the short-term Price level of 1.0120 constitutes an Intraday Support which is expected to push USD/CAD to the upside towards 1.0200 then 1.0250 with SL below 1.0080.
Price zone between 1.0270-1.0290 should be carefully watched for price action in order to take a profitable trade at this key level.

 

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Silver Rally Expected To Continue

2012-07-16 12:13:56 (читать в оригинале)

 

 

Technical Outlook and Chart Setup:
The above wave structure represents an expected upswing opportunity. Until the time prices are above 26.00 level, we recommend buying on dips. The immediate support comes at sub 26.00 level. Buying on intraday dips would be a good trade strategy for now. Minimum upside extensions are 29.90/30.00 levels.
Trading Recommendations:
Stop below 26.00, stay long from Friday recommendations, and target 29.90 at least.

Good Luck!

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