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EUR/USD Intraday Technical Levels for May 30, 2012

2012-05-30 10:50:08 (читать в оригинале)

TODAY's   TECHNICAL   LEVEL :

Breakout BUY Level : 1.2539.

Strong Resistance : 1.2532.

Original Resistance : 1.2520.

Inner Sell Area : 1.2508.

Target Inner Area : 1.2478.

Inner Buy Area : 1.2448.

Original Support : 1.2436.

Strong Support : 1.2425.

Breakout SELL Level : 1.2416.

 

DESCRIPTION :

Today the EUR/USD pair has support and resistance at 1.2436 and 1.2520 resectively and is accompanied by strong support 1.2425 and 1.2532 resistance levels.

If the EUR/USD pair breaks out and closes below a 1.2416-level today, then this will indicate considerable bearish strength, while if the EUR/USD pair manages to break out and close above a 1.2539-level, then this will denote high bullish strength. Alternatively, its is possible to open a BUY positions at the level of 1.2448, and SELL positions at 1.2508 level, provided that both targets are located at the level of 1.2478.

 

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com

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

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Fundamental Analysis for May 29, 2012

2012-05-29 17:48:13 (читать в оригинале)

No news of importance for fundamental analysis, no significant price movements, the foreign exchange market started the week.
The euro, British pound, Swiss franc and the yen did not offer significant variations in these hours, waiting for data to generate the impact on the market. For now, the situation in Europe only brings bad news, with risk premiums at record highs in Spain, with constant cuts of banks’ credit ratings by the rating agencies, and what not.
The truth is that the major pairs appear to have found a floor or a ceiling, in some cases, even that there is no new trend and it will not change the tendency observed for 3 days at least.
In just a few hours, at 10:00 Eastern time, you will learn the index of consumer confidence in the U.S., which could generate some impact on prices. Of course, any major news from Europe could break out of this market. Taking into account the circumstances, the news of this nature would be welcomed.
In our opinion, the dollar has more to lose than to win in the next few hours, though, of course, there is a sharp upward trend on all fronts. What I can see is that the paths fix the major pairs, and in this sense, the Australian dollar, which tends to anticipate this kind of movement has already begun to show signs of strengthening.

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

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USD/CAD Intraday Technical Analysis and Trading Recommendations for May 29, 2012

2012-05-29 17:37:43 (читать в оригинале)

According to the Linear Regression Channels illustrated 1H Chart for the USD/CAD currency pair :

The USD/CAD pair has been moving almost sideways within the Yellow channel. However, the recent Violet and Blue channels tend to be slightly bearish after testing of Intraday resistance zone mentioned yesterday around 1.0250-1.0260

Few hours ago, USD/CAD failed to break down the lower limit of the Yellow channel at 1.0210 which pushed the pair to the upside to test the mid-line of the Yellow channel at 1.0254. However, breakdown of 1.0210 will probably allow the USD/CAD to initiate a bearish swing down to 1.0150-1.0125.

The view for USD/USD is bearish now. However the pair has a stronger Intraday Resistance Level located at 1.0285 corresponding to the upper limit of the Yellow channel which should be defended by the bears.

USD/CAD has its Average Daily Range located at 1.0180 which may provide some Intraday Support for the pair.

It's suggested either to take a low-risk SELL entry at 1.0285 with tight SL above 1.0310 or to stay out of the market untill confirmed price action takes place on the chart in either direction.

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

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EUR/USD Intraday Technical Analysis and Linear Regression Channels for May 29, 2012

2012-05-29 17:00:18 (читать в оригинале)

According to the Linear Regression Channels illustrated 1H Chart for the EUR/USD currency pair :

Last week, the EUR/USD pair experienced quick bearish decline between Price Levels around 1.2820 reaching Price Levels around 1.2500. Since then, the pair has been moving sideways within the depicted Yellow channel.

The EUR/USD pair has an Intraday Resistance Level located at 1.2550 ( the upper limit of the Violet channel & the mid-line of the Yellow one ) which needs to be broken in order to resume bullish retracement towards 1.2610 initially which if broken too, will allow the EUR/USD to extend its bullish targets up to Price Level 1.2700.

The EUR/USD pair has an Intraday Support Level located at 1.2490 ( the lower limit of the Yellow channel ) which constitutes the last bullish defense line in the short-term perspective. However, its breakdown will possibly initiate another bearish swing towards 1.2450 initially.

This manifest sideway movement may indicate possible bullish retracement especially after the prolonged downside movement witnessed this month. However, Breakdown & Fixation below 1.2480 invalidates this scenario for now.

If you like my articles, please vote for me in Analyst of the Year Contest by clicking here.

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

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USD/CAD Elliott Wave Count for May 29, 2012

2012-05-29 14:17:55 (читать в оригинале)

USD/CAD Elliott Wave
Last week the USD/CAD pair was trading in bullish mood developing 3 wave (coloured green). Yesterday this major opened with 20 pips gap and price continued pushing lower. During the European session we could observe descending move toward the 1.0222 level. Therefore during the New York session the USD/CAD pair started pushing higher and reached the 1.0265 level. Today during the Asian session we could observe continuation of the bearish mood and price reached the 1.0205 level (200EMA). Presently the USD/CAD pair is in the corrective 4 wave (Coloured green) and I am waiting for the price to lower today. In accordance with our wave rules and taking into account that the wave 4 retraces 50% of the wave 3, we can define the potential targets with Fibonacci retracement (0.9956-1.0310) with Take Profit 1 at 1.0175 (38.2% of wave 3) and Take Profit 2 at 1.0134 (50% of wave 3). The resistance level at 1.0270 can be used as Stop Loss. Also it is necessary to consider the data concerning the U.S. S&P/CS Composite-20 HPI y/y and CB Consumer Confidence that can affect the rate of the pair.

Support and Resistance Levels
(S3) 1.0195 (S2) 1.0214 (S1) 1.0225 (PP) 1.0243 (R1) 1.0262 (R2) 1.0273 (R3) 1.0291

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 1.0205 with Stop Loss at 1.0270, Take Profit 1 at 1.0175 and Take Profit 2 at 1.0134 are recommended

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