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USD/JPY Weekly and Monthly Pivot Points for April 23 - 27, 2012

2012-04-23 17:50:48 (читать в оригинале)

The weekly pivots chart for the USD / JPY indicate that pivot points are placed according to the maximum and minimum quotes and the weekly closure of the pair. This chart will enable to place Stop Take Profits or Stop Losses. These Pivot Levels are some sort of a trading map that will allow you to know beforehand the possible increases and declines of the pair.

Therefore, it is recommended to open the short positions at the R1 level and long positions at the S1 level. If the weekly pivot is considered as target, it may be a feasible strategy for swing trading. The strategy can be used otherwise: it is possible to open long positions in S2 positions, and short R2 weekly with S1 or R1 as seen weekly targets or to the pivot point.

 

 

____WEEKLY_____
Weekly - R3 = 83.57
Weekly - R2 = 82.67
Weekly - R1 = 82.09
Weekly Pivot = 81.19
Weekly - S1 = 80.61
Weekly - S2 = 79.71
Weekly - S3 = 79.13

 

____MONTHLY______
Monthly - R3 = 88.08
Monthly - R2 = 85.13
Monthly - R1 = 84.49
Monthly Pivot = 82.54
Monthly - S1 = 80.90
Monthly - S2 = 78.95
Monthly - S3 = 77.31

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

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GBP/USD Intraday Technical Analysis and Linear Regression Channel for April 23, 2012

2012-04-23 16:11:48 (читать в оригинале)

Considering the GBP/USD Linear Regression Hourly chart, we can observe a narrow-ranged bullish violet channel indicating the bullish strength of Friday's movement.

Yellow & Blue channels depicted above are less bullish than the violet one, indicating the prevailing bullish domination during the last week.

Today at earlier time, the GBP/USD could breakdown the lower limit of all the depicted channels indicating weakness of the bulls today. Hence, the Intraday view for the GBP/USD pair is bearish for today.

Price zone 1.6100-1.6110 which corresponds to the backside of the Yellow & Blue channels and previous broken buttoms is expected to initiate a bearish movement after retesting so it is considered as a valid Intraday SELL entry with SL located above 1.6160.

TP levels are to be located at 1.6070, 1.6005 & 1.5965.

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for April 23, 2012

2012-04-23 16:08:29 (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 level1.5830 which allowed the bulls to make a strong push to the upside and break 50% Fibonacci level (1.5925) and 1.5980-1.6000 ( Resistance level and Supply Zone)

It is important to mention there was a short-term uptrend line that was broken in the first week of April which was being tested at 1.6125 last Friday which is expected to constitute a soild resistance level to prevent the further upside movement up to the retesting of 1.5930 - 1.5980 (newly formed support zone) takes place constituting a long-term BUY entry.

At the moment it is recommended to stay outside the market until this support zone has not been reached. However, SELLING the GBP/USD at 1.6125 with a small lot size is still valid targetting 1.6000 with SL placed above 1.6170.

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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USD/CHF Technical Analysis and Trading Recommendations for April 23, 2012

2012-04-23 16:05:47 (читать в оригинале)

4H

General situation:
On April 23 the USD/CHF pair has successfully left the sideways movement. The rate has fixed below the Ichimoku Cloud and Bollinger Bands are expanding downwards. The current signal for Sell-deals is confirmed and strong, as the Chinkou Span is located below the price chart and the price is below the Ichimoku Cloud. That is the reason why targets for descending movement are seen at the first support level 0.9031. In case this level has been overcome, the new target for bearish trade – the second support level 0.8973 – will be available. The descending movement remains the same as long as the price is below the Kijun-Sen (0.9145). While bullish trading below this line it is recommended to place the Stop Loss. In case the price passes this line through, the signal for Sell-deals will weaken and the further elaboration of the descending movement will be questioned. Chinkou Span is located below the price chart confirming the current signal for bearish mood on the USD/CHF market. Bollinger Bands indicates the beginning of the descending movement; lines are expanded and directed downwards, so options with short positions are recommended. MACD has reversed to downwards, pointing at current downside movement of the price. Therefore, presently it is possible to remain short. If the indicator reverses to upwards, this will indicate the possible beginning of the correction.

 

Trading recommendations:
On the USD/CHF market it is recommended to consider short positions with first targets seen at the 0.9031 level. If the price passes this level through, the point 0. 8973 is to be considered as the next target. Stop Loss is to be placed above the point 0.9145 and, in case this line goes higher, it will be possible to place the Stop Loss after it. When the MACD reverses to upwards, it will be possible to reduce short positions manually. With 50-60 pips of profit, Stop Loss can be placed to the zero area. Take Profits are to be placed a bit higher than the target levels (10-15 pips approximately).

Apart from the technical picture it is necessary to consider the fundamental data and the time of its release.

Explanations to the picture:
Ichimoku Indicator:
Tenkan-Sen – red line
Kijun-Sen – blue line
Senkou Span A – light brown dotted line
Senkou Span B – light blue dotted line
Chinkou Span – green line
Senkou Span B – violet dotted line
Bollinger Bands:
3 yellow lines
MACD Indicator:
Red line and the histogram with white bars in the indicators window.

Analyst of the Year contest

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

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USD/MXN Elliott Wave Count for April 23, 2012

2012-04-23 13:46:33 (читать в оригинале)

USD/MXN Elliott Wave
Last week the USD/MXN pair has finished the development of the wave 1 and 2 (coloured blue) of the bigger (1) wave (coloured green). Presently we can observe the development of the wave 3 (coloured blue). During the Friday's European session the USD/MXN pair has started the descending movement towards the 13.140 level (100EMA). Therefore, during the New York session we could observe the price below 200EMA support. We can consider this move as the end of wave 1 of the bigger 3 wave. Today during the Asian session the USD/MXN pair started a bullish mood and we could observe the price back to 100EMA resistance around 13.140.We are expecting to see end of wave 2 of the bigger wave 3 around 13.195 level. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (13.287-13.047-13.265). Take Profit 1 at 13.033(100% of wave 1) and Take Profit 2 at 12.886 (161.8% of wave 1). As Stop Loss the invalidation point at 13.287 can be used.

Support and Resistance levels
(S3) 12.9989 (S2) 13.0526 (S1) 13.0858 (PP) 13.1395 (R1) 13.1932 (R2) 13.2264 (R3) 13.2801

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the downward movement. That is why Short positions at level 13.140 with Stop Loss at 13.287, Take Profit 1 at 13.033 and Take Profit 2 at 12.886 are recommended.

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