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EUR/USD Sell Fractal 1.3240 - for March 20, 2012

2012-03-20 18:14:11 (читать в оригинале)

 

The EUR / USD pair that is trading at 1.3190 has moved lower after the breakdown of the short-term trend line. Before the continuation of the descending trend, we will observe the usual pullback to 1.3240 weekly resistance. If this level is broken, the pair is expected to reach the 1.3309 level that is considered as the next resistance level.

Therefore, we recommend Sell-deals at the weekly resistance level around 1.3240 with a short-term objective 1.3055.

 The MACD indicator and range are showing the bearish signals.

 

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

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Fundamental Analysis for March 20, 2012

2012-03-20 18:10:38 (читать в оригинале)

 On Monday the dollar fell against other major currencies, with a strong momentum in relation to the euro and the pound sterling.

 

Wall Street shares continued to weakened, affected by the atmosphere of doubts of the European session.
However, a single fact could not change the direction of the market movement in a few hours. This time China was a protagonist.

The great Asian power, which affects all economic blocks, either due to its import or export, has entered this year into shadow of economic growth, prompting an immediate rise in the dollar on all fronts.

Thus, when the assumption concerning the possible decline in steel production, the hard currencies weakened, while exchange of "goods" was damaged even more, as China seemed to indicate the decline in commodity demand commodities that is taking place at the moment.

On the issue price is far more evident: the euro is back from yesterday’s highs after having failed to break down the 1.32 level. Meanwhile the British pound supported by the release on British inflation index standing in line with expectations, has fallen moderately without losing its short-term bullish direction.

But the Australian dollar is the first one to be affected by the news from its powerful neighbor, whose main customer is falling rapidly breaking the 1.05 point.

The Canadian dollar has not been that much affected, as the European currency was trading in narrow price ranges. The low oil prices, which appear to slow down at these times, have "stuck" loonie quotes on all fronts.

The low of the Dow Jones index futures appears to be more striking as it was traded at 13300 points within the strong bearish trend on the 4H chart. Maybe this time the beginning of significant profit-taking chip stocks, which are now at the 4 years high, will take place without interruption.

Meanwhile, the European stock markets operate with heavy losses, while on Tuesday's session averages they remained in the range between 1.2 and 1.7%. The major indexes are expected to move within downtrends in the nearest future.

The financial world now awaits the key U.S. data: building permits, announced at 8:30 EST. The construction sector indicated a very slow recovery in recent months; published figures do not exceed the highs of 2010. It should be noted that this data is a major concern of the Fed led by Ben Bernanke, who considers the primary building to leave behind once the economic crisis. Indeed, Bernanke will be presented in Washington from 12:45.

 

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

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USD/CHF Technical Analysis and Trading recommendations for March 20, 2012

2012-03-20 16:02:44 (читать в оригинале)

4H

General situation:
On March 20 the USD/CHF pair continued the descending movement and fixed below the Ichimoku Cloud. As e result, the signal for Sell-deals was strengthened enabling to open the short positions. The current signal for Sell-deals is confirmed and strong as Chinkou Span is located below the price chart and the price is fixed below the Ichimoku Cloud. That is the reason why the first support level 0.9084 is considered as a target for downside movements. In case this level has been overcome, the new target for the bullish trade – the second support level 0.9012 – will be available. The downward movement remains relevant as long as the price is above the Kjun-Sen (0.9210). While bearish trade above this line it is recommended to place Stop loss. When the price goes higher than this line, the signal for Sell-deals will weaken and the further development of the movement will be questioned. Chinkou Span is located below the price chart confirming the current signal for Sell-deals indicating the bearish mood of the USD/CHF market. Bollinger Bands indicates the continuation of the descending movement; lines are expanding and directed downwards. Therefore, it is recommended to consider short positions. MACD is directed downwards and is considered as a signal of current descending movement. Thus, it is possible to open new selling orders and support the already opened orders. When the MACD turns to upwards, this will be the sign of correction.

 

Trading recommendations:
On the USD/CHF market it is recommended to consider short positions with target seen at the 0.9084 level. When the price passes through this level, the next target for Sell-deals will be seen at the 0.9012 level. Stop loss is to be placed above the point 0.9210. In case this line goes downwards, Stop Loss can be placed after it. With 50-60 pips of profit Stop Loss can be placed to zero area. Take profits can be placed a little 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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USD/CAD Elliott Wave Count for March 20, 2012

2012-03-20 13:57:21 (читать в оригинале)

Market Overview
Yesterday the USD/CAD pair was trading within the downward movement. During the European session the major started the ascending movement towards the 0.9930 level.Therefore, in the early New York session we could observe the downward movement towards the 0.9860 level. The USD/CAD pair finished the trading day few pips above daily low at 0.9875 level.Today during the early Asian session we could observe the bullish movement to the 0.9890 line. Today the USD/CAD pair is expected to test 0.9950 level. Also it is necessary to consider the data concerning the USD Building Permits, Housing Starts, Treasury Sec Geithner Speaks and Fed Chairman Bernanke Speaks affect the rate of the pair.

Support and Resistance levels
(S3) 0.9816 (S2) 0.9843 (S1) 0.9860 (PP) 0.9886 (R1) 0.9913 (R2) 0.9930 (R3) 0.9956

USD/CAD Elliott Wave Analysis
The USD/CAD pair has finished the B wave (colored blue) in the point 0.9860 level. Presently we can observe the start of the wave C (colored blue). Proceeding from our wave rules and considering that the wave C is equal to the wave A, we can define the potential targets with the help of Fibonacci retracement (0.9842-1.0027-0.9860) with first Take Profit at level 1.0005 (78.6% of the wave A) and second Take Profit at 1.0044 (100% of the wave A). For Stop Loss we can use 0.9860 support 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 0.9920 with Stop Loss at 0.9860, Take Profit at 1.0005 and Take Profit 2 at 1.0044 are recommended.

 

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

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AUD/USD Elliott Wave Count for March 20, 2012

2012-03-20 13:30:16 (читать в оригинале)

Market Overview
Yesterday the AUD/USD pair was trading within upward movement. During the European session the major started the descending movement to the 1.0530 support level. Therefore during the New York session we could observe the bullish mood; the price has reached the new daily high at 1.0635 level. The AUD/USD pair did not manage to hold this level and at the end of New York session we saw a pullback towards the 1.0605 level. Today during the Asian session we could observe strong downward movement of this pair and price test 1.0520 support level. Today the AUD/USD pair is expected to test 1.0600 level again. Also it is necessary to consider the data concerning the USD Building Permits, Housing Starts, Treasury Sec Geithner Speaks and Fed Chairman Bernanke Speaks that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0522 (S2) 1.0552 (S1) 1.0571 (PP) 1.0601 (R1) 1.0631 (R2) 1.0650 (R3) 1.0680

AUD/USD Elliott Wave Analysis
The AUD/USD pair has finished the wave A (colored pink) of the bigger wave B (colored blue) in the point 1.0619. Presently we can observe the end of the  wave B (colored pink). 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 help of Fibonacci retracement (1.0422-1.0619-1.0469); the first Take Profit is to be placed at level 1.0599 (61.8% of the wave A), the second Take Profit at 1.0681 (100% of the wave A). For Stop Loss we can use the support level 1.0450.

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin an upward movement. That is why long positions at levels 1.0500 with Stop Loss at 1.0450, Take Profit at 1.0599 and Take Profit 2 at 1.0681 are recommended.

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