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EUR/USD Intraday Technical Analysis and Trading Recommendations for March 29, 2012

2012-03-29 16:43:38 (читать в оригинале)

 

According to the EUR/USD Linear Regression Channel 1H Chart presents:
The EUR/USD currency pair has been trending upwards. However, during the last two days the pair is more or less moving sideways.
Yesterday's EUR/USD price movement was quite weak which remained within the narrow-ranged bearish Violet and Blue channels depicted on the chart.
Today we are looking forward for a bullish breakout above the upper limit of the violet channel at 1.3350 which is a bullish signal to resume the bullish trend towards 1.3385, 1.3430 and 1.3475.
Price level 1.3270 corresponds to the lower limit of the all depicted channels giving a good BUY entry with SL to be placed below 1.3215.
Bullish breakout above 1.3350 is also a BUY entry but with higher risk/reward ratio.
TP will be located at 1.3385, 1.3430 and 1.3475.
Significant Bearish reaction towards 1.3350 gives early warning that the bullish domination is fading away.

 

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

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USD/CAD Elliott Wave Count for March 29, 2012

2012-03-29 13:21:39 (читать в оригинале)

Market Overview
Yesterday the USD/CAD pair was trading within the upward trend. During the European session the major started to ascend towards 0.9975. Therefore, during the New York session we were able to observe continuation of the bullish mood; the price reached the new daily high at 1.0000 at the end of session. Today during the Asian session we have observed continuation of upward trend and price reached the 0.9973 level. Today the USD/CAD pair is expected to test the 0.9900 level. Also it is necessary to consider the data concerning the USD Unemployment Claims, Final GDP q/q, FOMC Member Lockhart Speaks, Fed Chairman Bernanke Speaks and CAD RMPI m/m, IPPI m/m, Annual Budget Release that can affect the rate of the pair.

Support and Resistance levels
(S3) 0.9922 (S2) 0.9943 (S1) 0.9956 (PP) 0.9976 (R1) 0.9997 (R2) 1.0010 (R3) 1.0030

USD/CAD Elliott Wave Analysis
The USD/CAD pair has finished A wave (colored blue) of the bigger (C) wave (colored green) in the point 0.9999. Presently we can observe start of B wave (colored blue). In accordance with our wave rules and taking into account that the wave B should retrace from 50 - 61.8% of wave A, we can define the potential targets with the Fibonacci retracement (0.9899-0.9999); the First Take Profit at 0.9949 (50% of wave A) and Second Take Profit at 0.9921 (78.6% of wave A). For Stop Loss we can use the 1.0020 resistance level.

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the downward movement. That is why Short position at levels 0.9970 with Stop Loss at 1.0020, Take Profit at 0.9949 and Take Profit 2 at 0.9921 are recommended.

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

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USD/CAD Intraday Technical Analysis and Trading Recommendations for March 29, 2012

2012-03-29 13:20:02 (читать в оригинале)

 

The USD/CAD currency pair has been trending up within the bullish Violet and Blue channels after testing the intraday support level at 0.9900 which was mentioned as a good BUY entry last Tuesday.
Today USD/CAD is testing significant resistance area ranging between 0.9995 - 1.0006 which corresponds to the upper limit of the Yellow channel and previous consolidation zone.
So it's considered a valid low risk SELL entry for intraday traders.
For conservative traders the bearish direction for today will be confirmed, once the USD/CAD pair makes 1H closure below 0.9972.
TP for SELL orders should be located at 0.9955 and 0.9910 initially.
Breakthrough 1.0040 invalidates the bearish scenario; hence SL should be located slightly above.

 

 

 

 

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

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AUD/USD Elliott Wave Count for March 29, 2012

2012-03-29 13:18:28 (читать в оригинале)

Market Overview
Yesterday the AUD/USD pair was trading within the downward trend. During the European session the major started to decline to 1.3400. Therefore, during the New York session we were able to observe the continuation of the bearish mood; the price reached the new daily low at 1.0355 level at the end of session. Today during the Asian session we have observed continuation of decline under 1.0340.Today the AUD/USD pair is expected to test 100 EMA. Also it is necessary to consider the data concerning the USD Unemployment Claims, Final GDP q/q, FOMC Member Lockhart Speaks and Fed Chairman Bernanke Speaks that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0293 (S2) 1.0335 (S1) 1.0360 (PP) 1.0401 (R1) 1.0443 (R2) 1.0468 (R3) 1.0509

AUD/USD Elliott Wave Analysis
The AUD/USD pair has finished (A) wave (coloured black) of the bigger B wave (coloured blue) in the point 1.0557, and wave (B) in the point 1.0341. Presently we can observe start of (C) wave. In accordance with our wave rules and taking into account that the wave C is equal to the wave A, we can define the potential targets with the Fibonacci retracement (1.0335-1.0557-1.0341); the first Take Profit at 1.0561 (100% of wave A) and second Take Profit at 1.0621 (127.2% of wave A). For Stop Loss we can use a 1.0336 level.

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the upward movement. That is why Long position at levels 1.0410 with Stop Loss at 1.0336, Take Profit at 1.0561 and Take Profit 2 at 1.0621 are recommended.

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

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SILVER Intraday Technical Analysis

2012-03-29 13:03:46 (читать в оригинале)

 

 

Silver is currently testing the upper limit of its medium term bearish channel at 32.20 and seems to initiate a decline. Still a break through these levels will free up significant potential and initiate a bullish trend.
Technical indicators provide buy-signals but until that the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of the strong increase of these days. Stabilization is expected in the short term.
According to previous events, the market will indicate a bullish opportunity as soon as silver has broken its resistance at 32.20 with the 1st objective of 32.80, then 33.00. A break through 32.00 will change the scenario.

 

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