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GBP/USD Weekly Technical Levels for April 23 - 27, 2012

2012-04-23 10:31:13 (читать в оригинале)

Weekly Technical Levels:

Tip (s):

R3 and S3 are clear indicators of the maximum range for the period of extreme volatility. Nevertheless, it is still possible to break them through.

Pivot lines work well at sideways markets, as prices are most likely to be located between the R1 and S1 lines.

Within a strong trend the price will be located below the pivot point line and will continue its movement.

In case of the breaking news release that may influence the market, the price may go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.

Observation (s):

• If the trend goes upwards, then the strength of the currency will be defined as: GBP is an uptrend and USD is a downtrend.
• Most of the traders use the Fibonacci retracement to determine the accurate psychological support and resistance levels.
  

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

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GBP/USD Bearish Outlook for April 20, 2012 (Daily Strategy)

2012-04-20 18:40:12 (читать в оригинале)

The British pound exceeded this morning's expectations as retail sales grew 1.8%, 4 times more than expected, and that's how the British pound to the benefit of the euro reached its maximum since last November.

At the technical level it has reached its third weekly resistance of 1.6127. This level is a very strong roof area which we believe is due to give a correction technique to at least the 1.5950 or maybe even the 32.8% retracement of Fibonacci .

Therefore, we recommend to sell below W_R3 weekly with targets located at level of 1.5950. The range indicator is showing the overbought and a pullback.

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

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Fundamental Analysis, for April 20, 2012

2012-04-20 18:34:54 (читать в оригинале)

 On Friday the euro rose against the dollar in European session after the publication of the German IFO survey and affected the business climate in the country. The measurements made between about 7000 heads of leading companies reached 9-months highs, growing more than expected. With data like this is much too say concerning the asymmetry between the Northern and Southern Europe in present circumstances.

While in Germany the employment situation, wages and output is close to positive level considering the IFO report as the ZEW index, which reflects the country's financial climate, the nations that until recently appeared in the top 10 in the world, like Spain, have no choice but to celebrate the opportunity to place debt in the credit market, as it has happened on Thursday.

Considering this situation, we can come to several conclusions. It is clear that the euro project was created by Germany, which in turn kept the infrastructure part of the sovereignty of their peers for each currency. But the situation was expected to be different between countries that adopted the new currency - the euro or to adopt it in the nearest future. In other words, there are protection mechanisms amid the emerging problems.

The euro is trading at the 1.3 level or above, and irrespective if problems that can occur can change the debt situation of countries whose debt is becoming unaffordable, except of observing almost record levels of its economic growth expected in coming years. The main sources for this growth are high exchange rates.

But Germany is not concerned about the exchange rate. A large part of its exports are dumped to the rest of Europe where the euro is handled exactly. This can be considered as an insignificant fact taking into accounts its losses or gains against the dollar. No doubt that currency revaluation affects the export market of any nation, unless the currency of your client is the same as yours. We always say the same thing, but do not underestimate the Germans.

One of good news is from the German IFO, as stated above, on the recent euro’s erratic tendency. But the UK also offered a good thing: retail sales rose 1.8%, 4 times more than expected, and that's how the British pound to the benefit of the euro reached its high since last November. But at the moment reversal patterns are expected to take place in the nearest future.

The rest of the coins have undergone no significant changes: the franc gradually follows the euro, the Canadian dollar parity pivots against the dollar, but today the situation can change due to the release on consumer inflation rate in Canada. The Australian dollar’s direction is not clear, as the one of gold and the yen starting to discount a devaluation of the Bank of Japan to the 27th of April amid the announcement of a plan to stimulate the economy.

European shares are trading at a profit: the oil is traded at $ 103.20 per barrel WTI, and Dow Jones futures become a dangerous play in supporting 12840 points, below which the picture can become very bearish.

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

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EUR/USD Bullish Outlook for April 20, 2012 (Daily Strategy)

2012-04-20 18:03:16 (читать в оригинале)

 

On Friday the euro rose against the dollar during the early European session due to the publication of the IFO survey in Germany, reaching a 9-months high.

On a technical level, the euro has broken its downtrend line after having formed a pattern of reversal technique. Due to the fact that the euro is a bit overbought, we recommend Buty-positions on the pullback of the downtrend line with a target seen at 1.3290 level.

The Momentum indicator and Range are shown bullish signals.

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

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USD/CAD Intraday Technical Analysis and Trading Recommendations for April 20, 2012

2012-04-20 18:01:06 (читать в оригинале)

The USD/CAD Linear Regression Hourly Chart reveals:

Yesterday we suggested a bullish entry for the USD/CAD at closure above 0.9910 which hit its first TP level at 0.9960 (the upper limit of the Yellow channel) then started to decline.
The USD/CAD could break the lower limit of the Bullish Violet channel reaching the next support level located at 1.5910 which corresponds to the lower limit of the wider Bullish Blue channel and the neck-line of the double buttom pattern depicted on the chart.
The pair has an Intraday support level at 0.9880 corresponding to the intermediate line of the Yellow channel and its breakdown is a bearish signal especially after breakdown of the lower limit of the violet channel which reflects some bearish domination and bullish weakness.
Breakdown of 0.9880 will allow the pair to reach the lower limit of the Yellow channel at 0.9825.
The most expected scenario is that USD/CAD shows bullish reaction towards 0.9910 giving a BUY signal and TP levels are to be located at 0.9960, 1.0005 then 1.0040 with SL located just below 0.9870. However, all possible scenarios should be taken into consideration due to the prolonged sideway movement of the USD/CAD on the Longer time frames since Last January.

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