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

2012-03-23 15:39:15 (читать в оригинале)

4H

General situation:
On March 23 the USD/CHF pair again was trying to begin the ascending part of the trend towards the Ichimoku Cloud. The signal for Buy-deals was formed but it is not confirmed yet and weak, as the Chinkou Span remains below the price chart and the price is still located lower than the Ichimoku Cloud. Therefore, the target for the uprising movement is seen at the first resistance level 0.9281. It is recommended to open the long positions with this objective only when the price is fixed above the Ichimoku Cloud. In case this level has been overcome, the new target – the second resistance level 0.9406 – will be available. Upward movement remains relevant as long as the price remains above the Kijun-Sen (0.9130). While bullish trading below this line it is recommended to place Stop Loss. If the price goes below this line, the further elaboration of the upside movement will be questioned. Chinkou Span is located below the price chart. This fact is not considered as a confirmation of the current signal for Buy-deals and indicates the bearish mood at the USD/CHF market. Bollinger Bands shows the end of the downside movement, lines are not expanding and directed sideways. Thus, it is recommended to wait until the lines are expanded to one side, as the situation is controversial. MACD is directed downwards indicating the descending movement. Therefore, the indicator does not allow opening new buying orders, as these positions are not considered as relevant anyway due to the weak signal. The new signal for Sell-deals is very likely to be formed soon.

Trading recommendations:
On the USD/CHF market it is recommended to wait until the strengthening of the current signal (if this happens). After that it will be possible to consider long positions with targets seen at the 0.9281 level. If the price passes this level through, the level 0.9406 will be considered as target. Stop Loss is to be placed below the point 0.9130. if this line goes higher it will be possible to place Stop Loss after it. When the long positions are to be opened, MACD should be directed upwards. 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.

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.

 

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

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AUD/USD Elliott Wave Count for March 23, 2012

2012-03-23 13:32:26 (читать в оригинале)

Market Overview
Yesterday the AUD/USD pair was trading within a downward movement. During the European session the major started a descending movement to the 1.0355 level. Therefore, during the New York session we could observe the continuation of the bearish mood; the price reached a new 9-weeks low at 1.0336. The AUD/USD pair did not manage to hold this level and at the end of the New York session the price has moved a bit higher towards1.0385 level. Today during the Asian session we could observe an upward movement to the 1.0420 level.The AUD/USD pair is expected to test 200EMA resistance at 1.0500 level today. Also it is necessary to consider the data concerning the USD New Home Sales that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0254 (S2) 1.0311 (S1) 1.0345 (PP) 1.0402 (R1) 1.0459 (R2) 1.0493 (R3) 1.0550

AUD/USD Elliott Wave Analysis
The AUD/USD pair has finished A wave (colored pink) of the bigger B wave (colored blue) in the point 1.0636 and wave B (colored pink) in the point 1.0335 level. Presently we can observe the beginning of the final C wave of the bigger B wave. Proceeding from our wave rules and considering that the wave C is equal to the A wave, we can define the potential targets with the help of Fibonacci extension (1.0422-1.0636-1.0335) with first Take Profit at level 1.0550 (100% of the wave A) and second Take Profit at 1.0650 (161.8% of the wave A). For Stop Loss we can use 1.0335 invalidation point.

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin an upward movement. That is why long positions at levels 1.0490 with Stop Loss at 1.0335,Take Profit 1.0550 and Take Profit 2 at 1.0650 are recommended.

 

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

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EUR/USD Intraday Technical Analysis and Trading Recommendations for March 23, 2012

2012-03-23 13:30:08 (читать в оригинале)

Pivot Point: 1.3194.

Time Frame: H4

 

Overview:

The EUR/USD pair has broken the support level and turned towards the resistance level near the last week's point 1.3309 (March 2, 2012). Therefore, the pair has already formed a strong resistance at 1.3309. Moreover, having failed  to close above 1.33, the pair started showing a bearish mood at this level. It is necessary to mention that these levels coincide with strong levels for bulls on the H4 chart; the pair has formed a strong resistance at the level of 1.3309. Thus, the pair will move downwards which is a convincing fact; the structure of the downside movement looks as non-corrective indicating a bearish possibility below 1.33. This can be a good sign to sell the pair below 1.33 with the first target at 1.3180 initiating a downtrend in order to continue the bearish mood towards the point 1.3122 and further to 1.3055. However, it should also be mentioned that the price is still between 1.3290 and 1.3003, as the RSI and the last strong support level are still able to begin a downtrend at this level. So the market indicates a bullish opportunity at the level 1.3 on H4 chart with the first target 1.3122 (Weekly Pivot Point) and continues towards 1.32.

Trading Recommendations:

 

According to the previous events, the price is still located between 1.3290 and 1.3.

 

Buy-deals above 1.3 with the targets seen at 1.2940 and 1.316 levels.
Below 1.33 look for further downside pace with the first target seen at 1.3020 and 1.2940 levels.

Technical Levels:

R3: 1.3377
R2: 1.3315
R1: 1.3256
PP: 1.3194
S1: 1.3135
S2: 1.3073
S3: 1.3014

Observation (s):

Please, consider the market volatility before investing, as the sight price may has already been reached and scenarios invalidated.

Buyers are BIDding at a lower price.

Sellers are ASKing for a high price.

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

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SILVER Intraday Technical Analysis

2012-03-23 13:28:20 (читать в оригинале)

 

Silver is currently testing the intermediate resistance of its medium term bearish channel in 31.90 pointing at possible decline. However, a breakdown of these levels will open the way to the upper limit of its channel - 32.40.

Technical indicators do not provide clear signals but as the resistance level remains unbroken, the assumption of a decline is relevant. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

Proceeding from the previous situation, the market indicates a bullish opportunity as soon as the silver will has broken its resistance in 31.90 with points 32.40 and 32.60 seen as first objectives. A breakdown of the 31.70 level will cancell this scenario.

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

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USD/CAD Intraday Technical Analysis

2012-03-23 13:25:30 (читать в оригинале)

 

At the moment the spot rate is testing the upper limit of its medium term bearish channel in 1.0011 and is expected to decline. However, in case these levels are broken down, a  significant potential will be revealed resulting in the beginning of the bullish trend.

Technical indicators provide signals for Sell-deals; their location close to the overbuy zone confirms the assumptions of a decline. Bollinger bands are much discarded due to the strong growth of the pair that took place these days. The situation is expected to stabilize soon. 

Considering previous events, the market indicates a bullish opportunity as soon as the spot rate will has broken its resistance in 1.0011 with a 1st objectives seen at the 1.050 and 1.070 level. If the level 99.80 is passed through, the proposed scenario will be reversed. 

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