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EUR/USD Intraday Technical Analysis

2012-04-18 12:10:14 (читать в оригинале)

 

The spot rate is currently testing the intermediate support of its medium term bearish channel in 1.3080 indicating a possible rebound. However, a breakdown of these levels will entail a decline to its lower limit in the point 1.2980.

Technical indicators provide sellers signals but approaching to the oversell zone confirms the assumption of a rebound. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events, the market indicates a bullish opportunity at levels of 1.3080 with 1.3140 and 1.3160 seen as first objectives. In case the level 1.3060 has been passed through, the proposed scenario will be reversed.

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

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USD/CHF Technical Analysis and Trading Recommendations for April 18, 2012

2012-04-18 11:56:01 (читать в оригинале)

4H

General situation:
On April 18, the USD/CHF pair remains within the Ichimoku Cloud resulting in formation of the signal for Sell-deals. At the same time it does not stimulate any trading strategy. The current signal for Sell-deals is confirmed and weak, as Chinkou Span is fixed above the price chart and the price has entered the Ichimoku Cloud. That is the reason why the targets for downside movement are seen at the first support level 0.9042 though it is recommended to trade at this level only when the current signal has strengthened. In case this level has been passed through, the new target for bearish trading – the second support level 0.8993 – will be available. The downward movement remains the same as long as the price is lower than the Kijun-Sen line (0.9170). While bearish trading below this line it is recommended to place Stop Loss. If the price goes higher than this line, 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 Sell-deals and indicating the bearish mood on the USD/CHF market. Bollinger Bands indicates the current sideways movement; lines are restricted and directed sideways that is the reason why it is better to refrain from opening any positions. MACD has reversed to upwards pointing at the current ascending movement of the price. Nevertheless, considering the general picture, the situation is not very favorable for trading.

Trading recommendations:
On the USD/CHF market is recommended to open short positions with first target seen at the 0.9042 level but only when the price is fixed below the Ichimoku Cloud. When this level has been passed through, it is recommended to consider the 0.8993 level for Sell-deals. Stop Loss is to be placed above 0.9170 and if this line goes downwards, Stop Loss can be placed after it. While opening the short positions MACD is to be directed downwards. With 50-60 pips of profit, Stop Loss can be placed into the zero area. Take Profits can be placed a bit higher than the target levels (10-15 pips approximately). In general the situation for trading is considered as not positive.

 

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.

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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 18, 2012

2012-04-18 11:29:09 (читать в оригинале)

 

Having overcome the support level 0.996, the USD/CAD changed the main tendency to descending one. The breakdown of the support level 0.993 which is the previous wave’s low has lead to the strong signal for Sell-deals.

Having reached the support level 0.987, the pair resumed the ascending movement within a correction. Considering the wave marking, presently we can observe the third downward impulse wave.

The main target for buyers is seen at the resistance level 0.993. In case it has been overcome, the pair will enter in the flat area of the wave 0.993-1.003.

The main target for sellers is seen at the support level 0.987. If it has been passed through, the strong signal for Sell-deals will be provided and the way to the point 0.980 will open.

As long as the main tendency remains descending, today it is recommended to sell the pair when the support level 0.987 has been overcome.

 

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

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GBP/CHF Remains Locked, Go Short

2012-04-18 11:19:33 (читать в оригинале)

Technical Outlook:

There are absolutely no changes in the prospect structure for GBP/CHF. The larger structure on Daily Charts shown below seems to be carving out a possible Head and Shoulder. Furthermore, prices remains locked in a Wedge form of sideways consolidation structure. A clear breakdown is required either on the side of the wedge represented as Line Of Resistance and Channel Support Line in chart below.

 

 

Chart Setup:

Technically, prices are carving a possible C formation, of the down AB as shown above. It can also be represented as Right Shoulder of our conventional H & S pattern. Also we can see the wedge structure within which prices have remained locked for a certain period of tiime. The Line of Resistance passes through the 1.4620/50 area while the Channel Support Line now passes through 1.4480/1.4500 region. We need to see a clear breakthrough on each side confirming the further trend direction. At the moment, we it is recommended to remain bearish with stop at 1.4790. But it is necessary to take into account, that the breakdown on a north side is possible as well.

Trade Recommendations: Issued Earlier

Sold @ 1.4520/40, Stop @ 1.4790, Target1 @ 1.3950, Target2 @ 1.3800.

 

Best Regards,

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

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EUR/JPY on Crossroads, Hold on Shorts

2012-04-18 11:11:57 (читать в оригинале)

Technical Outlook:

EUR/JPY structure is presenting 2 possible options. 1) The  rally of the wave 5 from 97.00 to 111.00 correcting in 3 waves which can extend towards 103.00 and 101.00 levels. 2) The 3 wave downswing might have ended below 104.00 levels; presently the single currency is attempting to reach a new high, as shown in the chart setup below. Until the measured resistance at 107.50 holds at the same level, prices are expected to fall down. Please, consider the Chart Setup and Recommendations below.

 

 

Chart Setup:

Immediate resistance is located at 107.50 as it was mentioned yesterday. But it is necessary to concern the fact that EUR/JPY has passed through all retracement levels acting as resistance from 106.30/50 levels. Currently prices are testing 107.00 levels and are likely to break down to upside. It is hereby suggested to re-consider the trading strategy in case 107.30/50 levels are broken today. The resistances are seen at 107.50 and 111.00 levels and supports are at 102.00, 99.20 and 98.00 respectively. You can find two recommended trading strategies below.

Trade Recommendations:

1. Sold @ 105.00, Stop @ 107.50, Target1 @ 102.50, Target2 @ 101.00

2. If stopped out today, it is recommended to: Buy @ 105.50/70, Stop @ 104.50, Target above 111.00.

 

Best Regards

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