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USD/CAD Intraday Technical Analysis and Trading Recommendations for April 27, 2012

2012-04-27 18:14:01 (читать в оригинале)

The USD/CAD pair is showing again bearish tendency on Intraday basis as it managed to breakdown the lower limit of the bullish violet channel representing yesterday's movement.

Yesterday the USD/CAD managed to close above 0.9845 which allowed the pair to move higher towards 0.9870. However, it found resistance there at the upper limit of the violet channel which pushed USD/CAD back inside the movement channels again.

Now the USD/CAD is testing the intermediate line of the Blue & Yellow channels and previous Intraday buttom at 0.9805 which may constitute support for the pair to push it up to retest the broken lower limit of the violet channel at 0.9845.

SELLING the USD/CAD pair at 0.9845 is recommended with SL above 0.9880.

TP levels are to be located at 0.9810 & 0.9760.

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for April 27, 2012

2012-04-27 18:10:36 (читать в оригинале)

The Daily chart depicted above reflects that the GBP/USD pair could break its long-term downtrend line of January. Since then it has been trading within an uptrending despite some sideways consolidation in November and March.

Although the GBP/USD pair showed a significant bearish reaction towards 1.5950 - 1.6000 which gave some bearish expectations. The pair has failed to break through the level1.5800 which allowed the bulls to make a strong push to the upside and break 50% & recently 61.8% Fibonacci levels at 1.5925 & 1.6090 respectively.

It is crucial that a short-term uptrend line was broken in the first week of April which was tested at 1.6125 last Friday which is expected to constitute a solid resistance level at 1.6262  to prevent the further upside movement.

On the 4H chart, we see that the GBP/USD pair has recently broken the consoildation range between 1.6077-1.6145 with successful retesting which allowed the GBP/USD to resume its bullish movement towards 1.6262.

SELLING the GBP/USD pair at 1.6262 with a small lot size is recommended as long as the GBP/USD pair shows some bearish respect for the price level on the lower timeframes.

TP levels are to be located at 1.6155 & 1.6000 with SL placed above 1.6305.

Price Zone 1.5930 - 1.5980 is recommended as a valid Long-term BUY entry with SL located below 1.5810.

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

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NZD/USD Candlestick Analysis for April 27, 2012

2012-04-27 15:40:37 (читать в оригинале)

Daily

The kiwi continues to be traded within the sideways channel between Fibonacci levels 23.6% and 38.2% against the greenback. On Monday the rate has tested the lower limit of the channel that is why we can assume the quotes growth towards the correction level 38.2% - 0.8234. But the formation of the Falling Star bearish pattern indicates the possible retesting of the lower limit of the sideways channel. In general the pair has been traded within this channel for more than a month that is why we cannot forecast anything but the movement within its borders.

4h

As it was mentioned before, the Fibonacci level 38.2% is still considered as the key level on the daily chart. As it was expected, the rate has failed to fix below it and reversed to the benefit of the kiwi though yesterday’s results indicate the retesting of this level. Apparently the rate will manage to leave this channel though we can talk about it only basing on real facts. Despite the 4H timeframe analysis the limits of the sideways channel are still considered as the key levels.

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

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EUR/USD Wave Analysis for April 27, 2012

2012-04-27 11:43:24 (читать в оригинале)

 

Wave marking analysis:
In the course of yesterday’s trades, the EUR/USD pair continued the daily renewal of the previously reached highs. The breakdown of the correction level 61.8% has opened the way to the next level – 76.4%. The point 1.3340 is expected to be reached soon. Therefore, despite the evident MACD divergence, the inner wave structure of the ascending part of the trend starting from April 23 is getting more and more complicated. Thus, the wave marking is to be amended. At the same time it is necessary to consider that retention of long positions seems to be quite risky, as the turn of the market against the euro can start in any time.

 

Targets for the resumption of the descending part of the trend within the wave 3 or C:
1.3087 – 23.6% of Fibonacci
1.3039 – 11.4% of Fibonacci

Targets for the wave E in 2 or B:
1.3295 – 76.4% of Fibonacci
1.3343 – 88.6% of Fibonacci

General conclusions and trading recommendations:
The recent growth of quotes can be considered as a quite complicated wave 2 or B. The current ascending movement within the wave E has targets 1.3295 and 1.3343 which is equal to 76.4% and 88.6% of Fibonacci respectively. The MACD divergence points at the possible reversal of quotes to the benefit of the dollar, as the wave 2 or B is nearly completed. If the current marking is true, then the wave 3 or C with targets seen at 1.3087 and 1.3039 can begin its formation almost from the current points.

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

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USD/CAD Survey according to the Point and Figure Charting for April 27, 2012

2012-04-27 11:27:05 (читать в оригинале)

 

Having reached the support level 0.981, the USD/CAD pair resumed the ascending movement within the correction. Presently the main target for purchasers is seen at the resistance level 0.996 where the main line of the descending trend is drawn. In case this level has been overcome, the tendency will change to uprising one and the strong signal for Buy-deals will be provided.

The point 0.981 is considered as the support level. If this level has been passed through, the strong signal for Sell-deals will be provided and the way to the point 0.975 will be opened.

Relative strength index is located in the O column indicating the purchasers’ force. As long as the main tendency remains descending, today it is recommended to sell the pair, when the support level 0.981 has been overcome.

 

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