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AUD/USD Strong Support - For May 31/2012 (Weekly Strategy)

2012-05-31 16:48:18 (читать в оригинале)

 Yesterday the Australian Dollar fell to minimum of 20 November last year (0.9663) around 0.9675 (May/30/2012). After this point recovers slightly as part of a take profit of the operators.

On the weekly chart we see a  low of 0.9663 as the low recorded in November last year. Below this level is the first weekly support 0.9653, and also on this level there is the weekly fractal 0.9660. Considering  that the Aussie has strong support to his forehead, we recommend buy as part of the correction and rebound upward, with medium-term objectives to 1.0136 U.S. dollars per Australian dollar.

The momentum indicator is showing bullish signal, a correction is imminent.

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

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What is the way that will take the market in the next few hours? - Fundamental Analysis For May 31 /2012

2012-05-31 16:46:08 (читать в оригинале)

The European currency repeated during Thursday's session the recent behavior with sharp increases in early European session after heavy losses during Asian session.
Previously it was weakened again during the American session against the backdrop of the main activities of Wall Street, which pushed the currency down.

The European debt crisis is presently somewhat alleviated by a considerable decrease in the borrowing costs of Spain (had approached default rates on Wednesday). The key data on the U.S. economy in recent days has been somewhat ignored in the headlines.

At 8:15 Eastern were expected private jobs report, provided by ADP, who previously mentioned the creation of 145,000 jobs in May up from 119,000 in April. Revisions of the latter figure, together with the divergence which often occur between the forecast and eventually published data are the factors that have an impact on prices, so you have to pay close attention to the report. The same is with the data employment from the Department of Labor which is to be released on Friday.

At 8:30, meanwhile, will be the turn of the first of two revisions of GDP in the second quarter. With a background of 2.2%, 1.9% growth expected this month appears very modest for an economy struggling to leave behind the deep recession that lasted until mid-2009 but failed to take off in sustainably. This is another fact that will affect currency prices.

The data on unemployment usually published on Thursday coincide with the end of the month and expected publication of the Chicago PMI.

In short, the day full of information and the end of the month, is always profit-taking and somewhat unpredictable; currency market that is presented by the dollar as the overall winner and the yen as a refuge.

What will happen on the market in the next few hours? It will be difficult for the U.S. currency to continue further the upward movement. In Europe it is really hard, though important corrections in the price of the euro if, for example, as the ECB announces some kind of direct aid to Spain, and away from its own sufficiency, complains about the lack of attendance. Spain is now the nation with more problems to deal with their external commitments, and tibia proposal to extend its fiscal deficit above 3% of GDP for one year is too little for a country that needs urgently to save the lives of their banks.

 

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

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GBP/USD Is Time To Buy For May 31/2012 (Daily Strategy)

2012-05-31 16:15:27 (читать в оригинале)

The British pound recovers from the fall that led to lows in January (1.5462). On Thursday durin the American session it was traded slightly higher. Noteworthy that the volume of retail trade in the United Kingdom grows, sales amounted to 21% versus 6% in the previous month which increases the possibility of recovery of the British currency.

On the daily chart we can see that the British pound is around the second weekly pivot: we do not recommend buy deals at current levels, only if the pair closes above 1.5497, above the W_S2. With objectives to the 200 day moving average around 1.5800. At 1.5820 is the weekly fractal and is very likely that in this area the pair will find strong resistance as we can see on the chart.

The Momentum indicator is starting to show bullish signals.

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

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GBP/JPY Technical Levels and Trading Recommendations for May 31, 2012

2012-05-31 16:13:13 (читать в оригинале)

 

Overview 

As we expected yesterday, after having broken through the support area 123.10-122.25 the pair began strong bearish movement. Considering today's 4H chart, the pair bounces for a few pips due to a slightl correction but it still expected to continue its bearish movement to reach the support level 121.55. The breakdown of this support area and closure 4H below it indicates bearish strength providing new sellers signals and opening the way towards the support area 121.00 keeping its movement inside the bearish channel.Therefore we should wait the breakthrough of this level to continue bearish signal.

On the other hand, if the pair faces the lower boundary of its bearish channel and touches it, there will be a strong indicator for the upward movement and a good opportunity to buy with 122.66 levlel target.  We should wait till the resistance level 122.85 is broken in order to provide a new sellers signals with 124.00 level target. Technical indicators provide bearish signals but as long as the support area is unbroken, the upward trend is still expected to invalidate the bearish outlook.

Therefore, proceeding from the chart, we should wait more confirmations before making the decision .

Resistances and Supports levels

R3(125.30)

R2(124.10)

R1(122.85)

S1(121.55)

S2(121.00)

S3(120.25)

Trading recommendations 

According to previous analysis we still expect more bearish move in case of breaking the support area, so we recommend selling with TP1 121.10 and TP2 120.35 ; SL 121.72 .

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GBP/USD Intraday Technical Analysis and Linear Regression Channels for May 31, 2012

2012-05-31 15:53:35 (читать в оригинале)

The Linear Regression Channels 1H Chart for the GBP/USD illustrates:

Yesterday the GBP/USD pair expressend quite steep bearish movement breaking down the Intraday Support at 1.5555 exceeding the Average Daily Range to record a daily low at 1.5474.

It is important to note that exceeding the Average Daily Range usually indicates a possible bullish retracement to take place soon after

The Bearish Violet channel which represents Yesterday's movement was broken to the upside few hours ago allowing the pair to test Price Level 1.5510 corresponding to the upper limit of the Blue channel and the mid-line of the Yellow one.

Price Level 1.5565 constitutes a significant Intraday resistance level as it corresponds to the upper limit of the bearish Yellow channel & previous boken buttom which is expected to act as resistance for the pair.

In order to reach level 1.5565, the GBP/USD pair should pass through its minor resistance level at 1.5510. Otherwise, The downtrend is going to be resumed sooner than expected.

Based on the previous analysis

The market offers a SELL opportunity around price level 1.5570 with SL located above 1.5620.

TP levels are to be located at 1.5510 then 1.5460.

 

Best Regards.

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