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EUR/USD Intraday Technical Analysis and Trading Recommendations for March 22, 2012

2012-03-22 17:12:01 (читать в оригинале)

 

According to the linear regression channels the chart presents the following:
Yesterday, the EUR/USD currency pair showed massive bearish price action after visiting the resistance level 1.3283 which corresponds to the upper limit of all depicted channels roughly.
The EUR/USD pair has confirmed the marked Head & Shoulders reversal pattern with closure below the neck-line at 1.3180. Howeverб the pair found resistance at 1.3135 corresponding to the lower limit of the violet channel also breaking the lower limit of the bullish yellow channel depicted on the chart.
Yesterday, we mentioned the importance of intraday resistance area 1.3240-1.3260 as a good SELL entry which is running in profit now.
The market indicates an intraday SELL entry at 1.3185 - 1.3200 which corresponds to the backside of the broken yellow channel and the neckline of the H&S pattern.
Stop Loss is to be placed above 1.3255 and Profits should be taken at 1.3135 and 1.3105.

 

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for March 22, 2012

2012-03-22 16:42:09 (читать в оригинале)

According to the linear regression channels the chart shows the following:

The GBP/USD currency pair showed massive bearish reaction towards resistance level 1.5885 which was suggested to be a good SELL entry yesterday.

The bearish movement reached its expected TP levels at 1.5830 and 1.5800 also confirming the H&S reversal pattern illustrated on the chart with closure below the neck-line at 1.5820.

Price level 1.5820-1.5840 also corresponds to the lower limit of the broken Yellow channel giving another SELL entry for today with SL located above 1.5870.

The GBP/USD currency pair is expected to visit 1.5740 and 1.5720 as targets for the H&S pattern.

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

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USD/CAD Elliott Wave Count for March 22, 2012

2012-03-22 14:29:31 (читать в оригинале)

Market Overview
Yesterday the USD/CAD pair was trading upwards. During the European session the major started a descending movement to the 0.9873 level. Therefore, during the New York session we could observe strong bullish mood and price reaching new daily high at 0.9934.
The USD/CAD pair did not manage to hold this level and at the end of the New York session we could observe the price to return back to 200 EMA around 0.9915 level. Today during the Asian session we could observe an upward move to 0.9940 level. Today the USD/CAD pair is expected to test 1.0000 level. Also it is necessary to consider the data concerning the CAD Core Retail Sales m/m, Retail Sales m/m and USD Unemployment Claims that can affect the rate of the pair.

Support and Resistance levels
(S3) 0.9849 (S2) 0.9872 (S1) 0.9886 (PP) 0.9910 (R1) 0.9933 (R2) 0.9947 (R3) 0.9971

USD/CAD Elliott Wave Analysis
The USD/CAD pair has finished 1 wave (colored pink) of the bigger C wave (colored blue) in the point 0.9968, and 2 wave (colored pink) in the point 0.9873. Presently we can observe 3 wave (colored pink). Proceeding from our wave rules and considering that the wave 3 will retrace 161.8% of 1 wave, we can define the potential targets with the help of Fibonacci extension (0.9859-0.9968-0.9873) with first Take Profit at level 1.0023 (138.2% of the wave 1 and second Take Profit at 1.0049 (161.8% of the wave 1). For Stop Loss we can use 0.9910 support level.

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin an upward movement. That is why long positions at levels 0.9950 with Stop Loss at 0.9910,Take Profit 1.0023 and Take Profit 2 at 1.0049 are recommended.
 

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

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EUR/USD Elliott Wave Count for March 22, 2012

2012-03-22 14:27:27 (читать в оригинале)

Market Overview
Yesterday the EUR/USD pair was trading downwards. During the European session the major started a descending movement to the 1.3215 level (50 EMA support). Therefore, during the New York session we could observe the euro – U.S. dollar pair slightly higher before price continued with the bearish mood to the new daily low – to 1.3177, EUR/USD did not manage to hold this level and at the end of the New York session we could observe the price returning back to 50EMA.Today during the Asian session we could observe an upward move to 1.3250. Today the EUR/USD pair is expected to test 1.3100 level. We saw bad news from Europe today.
Still it is also necessary to consider the data concerning the GBP Retail Sales m/m , EUR Industrial New Orders m/m and USD Unemployment Claims that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.3119 (S2) 1.3160 (S1) 1.3185 (PP) 1.3226 (R1) 1.3267 (R2) 1.3292 (R3) 1.3333

EUR/USD Elliott Wave Analysis
The EUR/USD pair has finished i wave (colored blue) of the bigger (iii) wave (colored green) in the point 1.3284. Presently we can observe end of ii wave (colored blue). Proceeding from our wave rules and considering that the wave iii will retrace 161.8% of i wave, we can define the potential targets with the help of Fibonacci extension (1.3003-1.3284-.1.3133) with first Take Profit at level 1.3409 (100% of the wave i) and second Take Profit at 1.3583 (161.8% of the wave i). For Stop Loss we can use 1.3100 support level.

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin an upward movement. That is why long positions at levels 1.3200 with Stop Loss at 1.3100,Take Profit 1.3409 and Take Profit 2 at 1.3583 are recommended.

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

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SILVER Intraday Technical Analysis

2012-03-22 14:23:58 (читать в оригинале)

 

 

Silver is currently testing the intermediate support of its medium term bullish channel at 31.60 suggesting a rebound. However, a break of these levels will release strong potential and entail a decline to the lower limit of this one to 31.00.
Technical indicators provide sell-signals but are approaching the oversell zone supporting the assumptions 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 the levels of 31.60 with the 1st objective of 32.20, then 32.40. A break through 31.40 will alter this scenario.

 

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