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EUR/USD Sell Bellow Fractal 1.3405 - March 30, 2012

2012-03-30 18:39:47 (читать в оригинале)

The pair EUR / USD pair is trading within the upward trend due to optimism over the meeting of Finance Ministers of the Eurozone that was held today and covered the topics related to the EFSF and ESM funds.

As to the technical level we can note that the single currency has tried for several times to pass through 1.3390, though it failed. If we look at the chart, we can see a very strong fractal 1.3405 at this level.

We recommend Sell-deals below this level with targets seen at the level 1.3170. A weekly and monthly closure above 1.3405 will change the perspective of the pair targeting the level 1.3490 towards the point 1.36.

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

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GBP/USD: Correction for March 30, 2012 (Daily Strategy)

2012-03-30 18:34:53 (читать в оригинале)

The GBP / USD  pair is traded in an uptrend and found resistance at 1.6005 W_R2. In the yesterday's analysis we  mentioned that the pound will have the objective at level 1.60  given that the statistics for the pound is unfavorable, apparently due to the weakness of the labor sector and a high level of inflation that affects retail sales. However, the influence of the external environment is stronger driving the pair  to new highs.

We believe that thisis not a long-term prospective. So, we recommend Sell-deals at level 1.6088 with a short-term target 1.5850.

The range indicator and Momentum are showing the overbought levels and the beginning of a correction.

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

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Fundamental Analysis, for March 30, 2012

2012-03-30 18:25:24 (читать в оригинале)

 

The meeting of the finance ministers of Europe that decided to extend bailout funds to economies in need boosted the movement at the stock exchanges of the continent.

These events resulted in the new upward movement of the euro which once again exceeded the point 1.33, though its speed turned to be bullish just before midday in Europe.

Moreover, a strong recovery of major currencies at the New York Stock Exchange on Thursday seemed to compensate the results of the U.S. session.

Unlike the recovery of the euro and British pound which remains much stronger against other currencies (mostly against the dollar) against the dollar than its rivals, the Australian dollar and Swiss franc do not look sustainable in the long-term perspective. However, it seems that profit-taking has come to an end of the month, especially in a period when maturing futures contracts generate some turbulence on all markets.

The yen was experiencing the same and is presently stable against the dollar reaching the support level of figure 82. On the 4 hour chart we can see that the rate of the USD / JPY is within a strong downtrend.

Concerning today’s news it is necessary to mention the data on Canada's GDP released at 8:30 Eastern, just at the same time with the figures on United States income and personal consumption. Also at 9:45 was released the news about Chicago PMI. Finally at 9:55 was released the information on the consumer confidence index published by the University of Michigan and Reuters.

 

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

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USD/CHF Technical Analysis and Trading Recommendations for March 30, 2012

2012-03-30 16:32:30 (читать в оригинале)

4-часовой таймфрейм

General situation:
On March 30 the USD/CHF pair (as other pairs) has completed the correction. Therefore, the pair is likely to resume the movement towards the 0.8900 level in few hours. The current signal for Sell-deals is confirmed and strong as Chinkou Span is located below the price chart and the price is still located below the Ichimoku Cloud. Thus, the target for descending movement is seen at the support level 0.8996. In case it has been passed through, the new target for bearish trade – the third support level 0.8996 will be available. The downside movement remains relevant as long as the price is located below the Kijun-Sen (0.9075). While bearish trade above this line it is recommended to place Stop Loss. In case the price goes higher than this line, the signal for Sell deals will weaken and the further development of the downside movement will be questioned. Chinkou Span is located below the price chart confirming the signal for Sell-deals and indicating the bearish mood on the USD/CHF market. Bollinger Bands indicates the possible end of the descending movement or too long correction (which is more likely); lines are narrowed and directed downwards that is why it is recommended to consider short positions. MACD is directed downwards indicating the current resumption of trend’s movement. Thus, the indicator allows opening new sellers orders. The new correction can be identified (as it was earlier) by MACD reversal to upwards.

 

Trading recommendations:
On the USD/CHF market it is recommended to consider short positions with the level 0.8996 seen as targets. When this level has been passed through, the next target for Sell-deals will be seen at the 0.8925 level. In case this line declines, Stop Loss can be placed after it. After the MCAD reversal it will be possible to reduce or close manually the Sell positions. With a profit of 50-60 pips Stop Loss can be placed to the zero area. Take profits can be set a bit higher than the target levels.

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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EUR/USD Intraday Technical Analysis and Trading Recommendations for March 30, 2012

2012-03-30 15:33:03 (читать в оригинале)

According to the EUR/USD pair Linear Regression Channel 1H Chart presents:

Having reached the lower limit of the Yellow & Violet channels at 1.3250 yesterday, the EUR/USD pair moved upwards and made a clear bullish breakout outside the Yellow & Blue channels.
Thus,  a bullish signal was provided affecting the ongoing bearish domination during this week rendering the backside of the broken limit at 1.3310 a valid BUY entry.
TP is to be located at 1.3375, 1.3440 & 1.3475.
SL is to be placed below 1.3248.
 

 

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