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GBP/USD Weekly Technical Levels for June 25 - 29, 2012

2012-06-25 13:49:49 (читать в оригинале)

Weekly Technical Levels:

 

Tip (s):

R3 and S3 are considered as clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. 

Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 line.

Within a strong trend the price is expected to be lower than the pivot point line and continue the movement.

In case of the breaking news release that may affect the market, the price is likely to go straight through R1 or S1 and even reach  R2 & R3 or S2 & S3.

Observation (s):

• If the trend is of upside character, then the strength of the currency will be defined as following: GBP is an uptrend and USD is a downtrend.
• Most of the traders use the Fibonacci retracement to determine accurately the psychological support and resistance levels.
  

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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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GBP/JPY Weekly Elliott Wave Count

2012-06-25 13:09:15 (читать в оригинале)

GBP/JPY Elliott Wave
From the start of June the GBP/JPY pair has been trading in an upward move developing the corrective wave (4) (coloured green). During the Friday's Asian session we could observe the ascending move toward the 125.70 level (new daily high). Therefore during the European and New York session the GBP/JPY did not manage to hold at this level and we could see the downward movement to the 125.05 level. Today this exotic pair continued trading in a bearish mood and price reached the 124.40 level. At the moment we can see the developing of the impulsive wave 1 (coloured blue) of the bigger (5) wave (coloured green). In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets with measuring (1) wave (coloured green) with Take Profit 1 at 119.67 (100% of wave 1) and Take Profit 2 at 115.83 (161.8% of wave 1). Invalidation at 127.13 can be used as a Stop Loss point.

Support and Resistance Levels
(S3) 124.31 (S2) 124.68 (S1) 124.92 (PP) 125.30 (R1) 125.67 (R2) 125.91 (R3) 126.29

Trading Forecast
Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 124.30 with Stop Loss at 127.13, Take Profit 1 at 119.67 and Take Profit 2 at 115.83 are recommended.

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

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EUR/JPY Intraday Technical Analysis

2012-06-25 13:06:12 (читать в оригинале)

 

The spot rate is currently testing the intermediate support of its medium term bullish channel at 100.00 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 99.60.

Technical indicators provide sell-signals but are approaching the oversell zone supporting the assumption of a rebound. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events the market will provide a bullish opportunity at the level of 100.00 with the 1st objective at 100.60 and then at 100.80. A break through 99.80 will alter this scenario.

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

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GOLD Intraday Technical Analysis

2012-06-25 13:05:54 (читать в оригинале)

 

Gold is currently testing the intermediate resistance of its medium term bearish channel at 1,580 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 to 1,630.

Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.

According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1,580 with the 1st objective at 1,590 and then at 1,594. A break through 1,577 will invalidate this scenario.

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

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GBP/USD Intraday Technical Analysis

2012-06-25 13:05:27 (читать в оригинале)

 

The spot rate is currently testing the lower limit of its medium term bullish channel at 1.5560 and seems to initiate a rebound. However, a break through these levels will release good potential and initiate a violent bearish trend.

Technical indicators provide buy-signals and approching oversell zone supporting the assumption of a rebound. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events the market will provide a bullish opportunity at the level of 1.5560 with the 1st objective at 1.5620 and then at 1.5640. A break through 1.5540 will alter this scenario.

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