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GBP/USD Intraday Technical Analysis for May 24, 2012

2012-05-24 10:28:19 (читать в оригинале)

 

Weekly Pivot Point: 1.5715.

GBP/USD:

• Resistance: 1.6030. (Sell below this level).
  
• Support: 1.5624. (Buy above this level).
  

Trading Recommendations:

 

According to previous events, the price is still located between the levels 1.5650 and 1.6030.

 

• The descending movement will probably take place lower than the 1.6030 level with the first targets at levels 1.5730 and 1.5633.
• BUY-deals are recommended higher than the 1.562 level with targets at levels 1.57 and 1.5889 (Weekly pivot point).

Overview:

It should be noted that the market revealed the signs of instability. The trend movement was controversial as it took place in a narrow sideways channel. Concerning the previous events, the price is still between the levels 1.5650 and 1.6030, so it is recommended to be cautious while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then, the market will probably indicate the signs of a bullish trend. In other words, BUY-deals are recommended higher than the 1.5625 level with its first target at the level of 1.5725. From this point the pair is likely to begin the ascending movement to the point 1.5825 and further to the level 1.5900. However, if the pair fails to pass through the level of 1.6030, the market will indicate a bearish opportunity below the strong resistance level 1.6030. In this regard, SELL-deals are recommended lower than the 1.6030 level with the first target at 1.5730. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.5633.

 

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If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com .

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AUD/USD Technical Analysis and Trading Recommendations for May 24, 2012

2012-05-24 10:24:46 (читать в оригинале)

Pivot Point: 0.9750.

Intraday Technical levels  (May 24, 2012):

R3: 0,9924
R2: 0,9864
R1: 0,9810
PP: 0,9750
S1: 0,9696
S2: 0,9636
S3: 0,9582

Overview:

The AUD/USD pair has turbulently reached the level 0.9787 moving from the point 1.0030. Yesterday's deals were closed at level 0.9757. Two months ago the price was below 61.8% of Fibonacci retracement levels. It is necessary to mention that the price formed a strong resistance level 1.0030 which is located between 50% of Fibonacci retracement levels and 38.2% on the Daily chart. Thus, the market is likely to show again the signs of bearish movement indicating a bearish tendency from the level 1.0030 with targets located near the strong support level 0.9515. Meanwhile, the bears were forced to go back to this level, forming a strong support in the point 0.9510 indicating a bullish opportunity above the support level. This can be considered a good sign for BUY-deals higher than 0.9510 with 0.9650 and 0.9790 seen as targets.

Trading Recommendations:

According to the previous events, the price is still located between 0.9500 and 1.0030.

• Buy-deals above 0.9500 with targets near 0.9790.
• Sell-deals below 1.0030 for the further development of the downtrend in order to continue the  bearish movement towards 0.9650 and 0.9510 levels.

Observation (s):

• Please consider the market volatility before investing, as the sight price may have already been reached and scenarios cancelled.
• Strong Support: 0.9500.
• Strong Resistance: 1.0030.

 

If you like my technical analysis, please vote for me by clicking here!

 

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com .

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GBP/JPY Elliott wave count and Fibonacci levels for May 24, 2012

2012-05-24 10:22:31 (читать в оригинале)

GBP/JPY is developing impulse wave C of medium term downtrend from 129.32 (light green in the chart). Within this wave we have five subwaves (red in the chart), and impulse subwave 5 is developing from 126.39.

The immediate supports are Fibonacci expansions off 131.75-127.76-129.32, 128.71-124.59-126.39.

Supports:

- 123.84 = contracted objective point (COP)
- 122.86 = expanded objective point (XOP)
- 122.27 = objective point (OP)

If the price reverses to the upside the resistances will be Fibonacci retracements of 126.39-124.25.

Resistances:

- 125.07 = .382 retracement
- 125.32 = .50 ret
- 125.57 = .618 ret

Overbought/Oversold

The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator goes above the zero level (15-20 pips above the current prices) or into the overbought area (35-50 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.

Read more on how to trade with Fibonacci levels.

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AUD/USD Elliott wave count and Fibonacci levels for May 24, 2012

2012-05-24 10:22:11 (читать в оригинале)

AUD/USD is developing impulse wave A (light green in the chart) of medium term downtrend. Within this wave there are five subwaves (magenta in the chart), and impulse subwave 5 is developing from 0.9934. The latter contrains subwaves A, and B (red in the chart), that is developing from 0.9689.

Now the immediate resistances are Fibonacci retracements of 0.9934-0.9689.

Resistances:

- 0.9783 = .382 retracement
- 0.9811 = .50 ret
- 0.9840 = .618 ret

If the price resumes the downtrend the targets below will be Fibonacci expansions off 1.0473-1.0110-1.0219, 1.0219-0.9795-0.9934.

Supports:

- 0.9672 = contracted objective point (COP)
- 0.9632 = expanded objective point (XOP)
- 0.9510 = objective point (OP)

Overbought/Oversold

The larger wave is now moving down, so it's prefereable to go short when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (15-30 pips above the current prices), watch for possibilities to go short at or near the indicated resistances.

Read more on how to trade with Fibonacci levels.

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

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USD/JPY Intraday Technical Levels for May 24, 2012

2012-05-24 10:21:41 (читать в оригинале)

TODAY's   TECHNICAL   LEVELS:

Resistance. 3 : 79.86.

Resistance. 2 : 79.70.

Resistance. 1 : 79.54.

Support. 1 : 79.35.

Support. 2 : 79.19.

Support. 3 : 79.03.

 

DESCRIPTION:

Please, pay attention to the levels of support. 3 (79.03) and resistance. 3 (79.86), in general, when a level is touched, USD/JPY will rebound from the previous minimum by10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign of that these currencies have found trends today.

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