InstaForex Wave Analysis - page 146
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EUR/JPY Intraday Technical Analysis
The spot rate approaches the intermediate resistance of its long-term bearish channel at 111.60. It seems that a decline was initiated. However, a break of these levels will free a large potential and reach the upper limit of its channel at 119.80.
Technical indicators provide buy signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility.
The spot rate is currently testing the intermediate resistance of its channel, we suggest 2 scenarios. The first one is the hypothesis of a decline where we recommend a sell on the level of 111.60 with the 1st objective at 111.00 and then at 110.80. A breakthrough of 111.80 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 111.60 with the 1st objective at 112.20 and then at 112.40. A breakthrough of 111.40 will invalidate this scenario.
More analysis - at instaforex.com
USD/JPY Intraday Technical Levels for December 19, 2012
TODAY's TECHNICAL LEVELS:
Resistance 3: 84.70.
Resistance 2: 84.53.
Resistance 1: 84.37.
Support 1: 84.16.
Support 2: 84.00.
Support 3: 83.83. DESCRIPTION:
Please, pay attention to the levels of support 3 (83.83) and resistance 3 (84.70). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
More analysis - at instaforex.com
USD/JPY Intraday Technical Levels for December 21, 2012
TODAY's TECHNICAL LEVELS:
Resistance. 3 : 84.47.
Resistance. 2 : 84.30.
Resistance. 1 : 84.13.
Support. 1 : 83.93.
Support. 2 : 83.77.
Support. 3 : 83.60.
DESCRIPTION:
Please, pay attention to the levels of support. 3 (83.60) and resistance. 3 (84.47), in general, when a level is touched, USD/JPY will rebound from the previous minimum by 10-20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
More analysis - at instaforex.com
GBP/CHF Breaks Support At 1.4720/25; Hold Short Positions
Technical Outlook and Chart Setups:
As depicted here, the single currency breaks below immediate support at the 1.4720/25 levels. Furthermore, the pair is completely out of the falling wedge formation. Minor pullback rallies can be expected, but they will be well capped below the 1.4830/40 levels. It is recommended to sell intraday rallies towards 1.4830/40 and also hold short positions taken earlier. Fibonacci support levels are at 1.4600 and lower, while resistance starts from the 1.4830/40 levels through the 1.5050 and 1.5150 levels respectively. Looking lower from here on.
Trading Recommendations:
Hold on to short positions taken earlier and sell further intraday rallies. Stop is at 1.5000, target is at 1.4600.
More analysis - at instaforex.com
EUR/USD Long-Term Technical Analysis for December 27, 2012
Overview:
The EUR/USD pair has broken the support level and turned towards the resistance level of 1.3299 last week. Therefore, the pair has already formed a strong resistance at 1.3300. Moreover, it failed to close above 1.3299 and started showing a bearish reaction at this level. It is necessary to mention that these levels coincide with strong levels for bears on the H1 chart; the pair has also formed strong resistance at the level of 1.3300. The pair will move downwards, it is convincing; the structure of the downside movement does not look corrective and is indicating a bearish opportunity below 1.3299. This can be a good sign for Sell deals below 1.33 with the first target at 1.3270 initiating an uptrend in order to continue the bullish mood towards the point of 1.3133 and further to 1.3072. If the trend breaks the weekly resistance 1 (1.3282), then the pair will go downwards to these targets. However, it should also be noted that the price is still between 1.3277 and 1.3177, as the last strong support level (1.3050) is still able to start an uptrend at this level. Thus, the market indicates a bullish opportunity at the level of 1.3050 on the H1 chart with the first target at 1.3110 and continues towards 1.3212 (weekly Pivot Point).
Note: Resistance at 1.3300 & Support at 1.3050 (Long Term).
Observation(s):
If the trend is ascending, then the strength of the currency will be defined as follows: EUR is an uptrend, and USD is a downtrend. Most of the traders use the Fibonacci retracement to determine accurately the psychological support and resistance levels.
Stop loss should NEVER exceed your maximum exposure amounts.
The market is highly volatile as usual when the last day had a huge volatility.
More analysis - at instaforex.com
EUR/JPY Intraday Technical Analysis
The spot rate is currently testing the upper limit of its long-term bearish channel at 114.60 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.
Technical indicators provide buy signals but approaches overbuy zone and until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility.
The spot rate is currently testing the upper limit of its channel, so we recommend 2 scenarios: the first one is the hypothesis of a decline, then we recommend a sell on the level of 114.60 with the 1st objective at 114.00 and then at 113.80. A break through 114.80 will invalidate this scenario. The second scenario is a break of its resistance, then we recommend a “buy stop”, which means to buy the spot rate as soon as it has broken through its resistance of 114.60 with the 1st objective at 115.20 and then at 115.40. A break through 114.40 will invalidate this scenario.
More analysis - at instaforex.com
USD/CAD Intraday Technical Analysis and Trading Recommendations for January 1, 2013
In the previous articles we suggested that the potential downside movement remained valid as long as the pair was trading below 1.0040 and below 1.0000 area, the psychological resistance.
The daily chart showed a narrow consolidation range 0.9905 - 0.9955 located few pips above 0.9890 (50% Fibonacci Level), which was broken down. It opened the way towards 0.9825 without further bearish pressure, which indicated a bullish retracement had taken place which allowed the pair to come back again within the congestion zone 0.9905 - 0.9955.
Last week, the USD/CAD pair expressed quite strong bullish reaction breaking through the upper limit of the depicted bearish channel on the 4H chart with newly established ascending bottoms at 0.9870 and 0.9910. The pair gave daily closure above both 50% and 61.8% Fibonacci levels.
Price Zone 0.9890 is rendered as a confluence of support for the USD/CAD pair. Hence, a valid BUY entry can be taken with SL located just below 0.9810, but we need to see that 0.9905 is broken down first.
A breakthrough of 0.9955 probably opens the way towards 0.9990 then 1.0020.
Resistance: 0.9955, 1.0040, and 1.0080.
Support: 0.9905, 0.9870, 0.9830, 0.9805, and 0.9760.
More analysis - at instaforex.com
USD/JPY Intraday Technical Levels for January 04, 2013
TODAY'S TECHNICAL LEVELS:
Resistance 3: 88.11.
Resistance 2: 87.94.
Resistance 1: 87.77.
Support 1: 87.56.
Support 2: 87.38.
Support 3: 87.21. DESCRIPTION:
Please pay attention to the levels of support 3 (87.21) and resistance 3 (88.11). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
More analysis - at instaforex.com
EUR/USD Intraday Technical Analysis
The spot rate is currently testing the upper limit of its medium-term bearish channel at 1.3070 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.
Technical indicators provide sell signals and, until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
The spot rate is currently testing the upper limit of its channel, so we recommend 2 scenarios: the first one is the hypothesis of a decline, then we recommend a sell at the level of 1.3070 with the 1st objective at 1.3010 and then at 1.2990. A break through 1.3090 will invalidate this scenario. The second scenario is a break of its resistance, then we recommend a buy stop, which means to buy the spot rate as soon as it breaks through its resistance of 1.3070 with the 1st objective at 1.3130 and then at 1.3150. A break through 1.3050 will invalidate this scenario.
More analysis - at instaforex.com
USD/JPY Intraday Technical Levels for January 08, 2013
TODAY'S TECHNICAL LEVELS:
Resistance 3: 88.05.
Resistance 2: 87.87.
Resistance 1: 87.70.
Support 1: 87.49.
Support 2: 87.31.
Support 3: 87.14.
DESCRIPTION:
Please pay attention to the levels of support 3 (87.14) and resistance 3 (88.05). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
More analysis - at instaforex.com