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EUR/USD 1.2405 Strong Resistance - for July 11, 2012 (Daily Strategy)

2012-07-11 18:43:17 (читать в оригинале)

 

 

Italian prime minister announced that Italy may seek another bailout and this news ultimately hurt the Europe’s outlook.
On the technical level, the euro hit the 1.2250 support level which allows suggesting continuation of the downtrend. A close above 1.2250 would increase the probability of a rebound, to the weekly pivot of 1.2405 in this level. We recommend selling with short term 1.2150.
The Momentum indicator is showing that a rebound is imminent. Range Indicator is showing that the euro is highly oversold.

 

 

 

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GBP/USD Fractal 1.5589 - For July 11, 2012 (Daily Strategy)

2012-07-11 18:27:36 (читать в оригинале)

 

 

The British pound is going back to the bearish line after breaking its trend line. A few pips above 1.5589 are in the daily fractal, and only a break through this area would change the outlook for the pound, and we can buy to the next fractal 1.5760.
The range indicator is showing an upward sequence.

 

 

 

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

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

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Fundamental Analysis, for July 11, 2012

2012-07-11 18:23:14 (читать в оригинале)

 

Inflation data released in Germany showed the decline of 0.1%, which proves that even strong economies are affected by the crisis. The euro was not significantly affected by the news, however the market behaves in a different way. The single currency touched the new two years minimum of 1.2230, dragged down by a sharp decline in U.S. stocks.
The dollar, however, appears to be not as strong as on Tuesday. The fact that the Fed minute may show almost universal opinion about further stimulus measures for the economy, it may weaken the dollar.
In this context, the Fed is expected to boost a new QE at its meeting next month, which could weaken the dollar further. This explains the rise of the Australian dollar, the pound sterling, and the Canadian dollar, driven by rise in oil prices in recent hours.
These key reports will be released soon at 8:30 ET in addition to the mentioned above Fed minutes. No need to expect significant changes in the US deficit after these reports, but could be affected by lower energy costs (remember that oil suffered a significant drop in price).
In this context, the European markets operate with moderate increases of 0.6% on average, while the Dow Jones index futures recovered some of its losses from yesterday. On Tuesday the Dow Jones reached its low since June 29, deepening the climate of uncertainty within the world's largest economy.
Regarding the major currencies, the break of 1.2305 by the euro could give some strength during the American session. The European currency fails to return to a sustainable uptrend in short term.
The pound sterling demonstrates an opposite tendency. The British currency is strengthened this time, although only the improvement of 1.56 would give a greater upward momentum. Meanwhile, the yen is heading back to the area of ​​79 units per dollar.
It is known that the calm period on the markets is short. And usually some strong movements come after periods like this. It is better to prepare for them.

 

 

 

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EUR/USD Technical Levels and Trading Recommendations for July 11, 2012

2012-07-11 17:09:50 (читать в оригинале)

 

 

Overview

 

Proceeding from today's H4 chart, the pair did not manage to break the Support level 1.2250 and bounced from it, presently trading between the upper limit of its bearish channel and the Support level 1.2250. If the pair continues its slightly upward movement and breaks the upper limit of the bearish channel, this will give a strong indicator for the bullish move enabling the Resistance level 1.2330. Then we should wait for breaking this Resistance level and closing 4H above in order to receive new bullish-signals till reaching the Resistance level 1.2405 as a level target.

On the other hand, if the pair reverses its bullish move breaking the Support level 1.2250 and closing 4H below, but performing its move inside the bearish channel, it will be a good opportunity for the bearish move and open the way towards the Support level 1.2220 as a level target. Then we should wait for breaking this Support level to continue the bearish-signals. If the pair manages to break this Support level, this will indicate a bearish strength providing new bearish signals enabling the Resistance level 1.2175 as a level target. Based on the given H4 chart, the technical indicators provide sell-signals, but as long as the Support level 1.2250 is unbroken the upward movement is still expected invalidating the bearish outlook. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support Levels

R3(1.2450)
R2(1.2405)
R1(1.2330)

S1(1.2250)
S2(1.2220)
S3(1.2175)

Trading Recommendations

According to previous analysis, we recommend selling in case of closing 4H below the Support level 1.2250 with TP 1.2205; SL closing 4 hours 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 July 11, 2012

2012-07-11 17:03:38 (читать в оригинале)

 

 

Overview

 

Proceeding from today's H4 chart, the pair failed to break the Support level 123.00 again and bounced from it taking a slightly upward movement. Presently the pair is trading between the Resistance level 123.75 and the Support area 123.00-122.75. If the pair continues its bullish move and manages to close 4H above the Resistance level 123.75, this will be a strong indicator for the bullish move and open the way towards the Resistance level 124.40. Then we should wait for closing 4H above the Resistance level in order to get new bullish-signals.
On the other hand, if the pair reverses its bullish move and is able to break the Support area 123.00-122.75, this will denote a bearish strength and give the opportunity for the bearish-signals below the Support area and enable the Support level 122.40. Then we should wait for breaking this Support level to continue the bullish move. In case the pair manages to break the Support level, it will indicate a bearish strength providing new sell-signals after closing 4 hours below the Support level. Based on the given H4 chart, the technical indicators provide sell-signals, but as long as the Support area is unbroken, the upward move is still expected and invalidating the bearish outlook.

Resistance and Support Levels

R3(125.30)
R2(124.40)
R1(123.75)

S1(123.00)
S2(122.75)
S3(122.40)

Trading Recommendations

According to previous analysis, we recommend selling in case of closing 4H below the Support area 123.00-122.75 with TP 122.50; SL closing 4 hours above the Support area will be appropriate.

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