Friday, September 28, 2012
Wednesday, September 12, 2012
GBPUSD Intraday Technical Analysis for September 12, 2012
GBPUSD Intraday Technical Analysis for September 12, 2012 - The spot rate made a pull back yesterday at the intermediate support of its medium term bullish channel at 1.5980 and approaches now the upper limit of this one at 1.6100 suggesting a decline. However, a break of these levels will release a good potential and initiate a more violent bullish channel.
Technical indicators provide buy signals but approach an overbuy zone supporting the assumption of a decline in a short-term. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short-term. Moreover, the superior band strengthens the upper limit of its channel also strengthening the hypothesis of a decline.
As the spot rate is currently testing the upper limit of its channel, we suggest 2 scenarios: the first one is the hypothesis of a decline where we recommend a sell at the level of 1.6100 with the 1st objective at 1.6040 and then at 1.6020. A breakthrough of 1.6120 will invalidate this scenario. The second scenario is a break of its resistance where we recommend a “buy stop” which means buying the spot rate as soon as it is broken through its resistance at 1.6100 with the 1st objective at 1.6160 and then at 1.6180. A breakthrough of 1.6080 will invalidate this scenario.
GBPUSD Intraday Technical Analysis for September 12, 2012 - Source: InstaForex
GBPCHF Is Ready To Rally... Stay Long
GBPCHF Is Ready To Rally... Stay Long
Technical Outlook and Chart Setups:
Please note the wedge consolidation depicted above. The single currency pair is showing pretty clear signals that it is headed to the north side till 1.51 level is intact. Moreover, trendline support and past resistance turned to support and Fibonacci support and all demonstrating a convergience here. We suggest to be patient and hold on to longs positions taken earlier. Every intraday dip can be used to add further longs. A break out should materialize in 1-2 days.
Trading Recommendations:
No change. Please hold on to long positions taken earlier, Stop at 1.49, Target at 1.55/56 levels.
GBPCHF Is Ready To Rally... Stay Long - Source: InstaForex
EURJPY Elliott Wave Analysis for September 12 - 2012
EURJPY Elliott Wave Analysis for September 12 - 2012
Today's Support and Resistance Levels:
S1: 99.84 R1: 100.32
S2: 99.52 R2: 100.60
S3: 99.18 R3: 100.90
Technical Overview:
We saw the expected minor correction down to 99.52 yesterday and should now be ready for the last push higher towards the ideal target at 100.60. A test of 100.60 will likely mark the top of red wave 5 and black wave 3 and we should then be looking for black wave 4 down towards 98.40 and likely even 97.72 as black wave 4 corrects black wave 3 and sets us up for the last impulsive rally towards the 101.40 - 101.60 area.
In short-term we should expect support at 99.84 and again at 99.52.
Trading Recommendation:
We will sell EUR against JPY at 100.55 or at 99.45 (one order cancels the other) With a stop at 100.90 and take profit at 97.90.
EURJPY Elliott Wave Analysis for September 12 - 2012 - Source: InstaForex
France August Inflation Rises More Than Forecast
France August Inflation Rises More Than Forecast - French annual inflation rose more than expected in August, data from the statistical office Insee showed Wednesday.
EU harmonised annual inflation came in at 2.4 percent in August, up from 2.2 percent in July and slightly above the 2.3 percent rise forecast by economists.
On a monthly basis, the harmonized index of consumer prices climbed 0.7 percent, faster than the 0.6 percent expected increase.
Consumer price inflation accelerated to 2.1 percent from 1.9 percent in July. The largest upward pressures on annual inflation came from the increase of prices of energy.
Month-on-month, the index gained 0.7 percent, reversing July's 0.4 percent fall. Economists were looking for an annual rate of 2 percent and a monthly growth of 0.6 percent.
France August Inflation Rises More Than Forecast - Source: InstaForex
German HICP Up 2.2% In August
German HICP Up 2.2% In August - Germany's inflation, measured by the harmonized index of consumer prices (HICP), rose to 2.2 percent in August from 1.9 percent in July, final data released by the Federal Statistical Office confirmed Wednesday.
Month-on-month, the HICP moved up 0.4 percent in July, revised from the 0.3 percent rise estimated in the preliminary report.
At the same time, the consumer price index (CPI) climbed 2.1 percent year-on-year in August, up from July's 1.7 percent. This was slightly above the flash estimate of 2 percent.
On a monthly basis, prices rose 0.4 percent, revised from the earlier estimate of a 0.3 percent increase.
In August, the rate of inflation was mainly determined by the development of energy prices, the statistical office said. Energy prices increased 7.6 percent annually while the CPI excluding energy was just 1.4 percent higher than last year.
German HICP Up 2.2% In August Source: InstaForex
Tuesday, September 11, 2012
NZDUSD: Intraday Technical Analysis for September 11, 2012
NZDUSD: Intraday Technical Analysis for September 11, 2012
Weekly Pivot Point:
R3: 0.8404
R2: 0.8265
R1: 0.8193
PP: 0.8054
S1: 0.7982
S2: 0.7843
S3: 0.7771
Overview:
The NZDUSD pair is expected to continue the movement from the point of 0.7964 (23.6% of Fibonacci retracement level on the H1 chart and the weekly support 1 at 0.7982). Thus, kiwi shows the signs of strength, following the breakdown of the highest level 0.7964. This fact can be considered as a good signal for BUY deals above 23.6% point of Fibonacci retracement level on the H1 chart or at the level (0.7964) with the first targets at 0.8054 and 0.8193 (it will serve as a strong resistance level and is considered to be appropriate for Take Profit orders). It is necessary to mention that this level will coincide with the weekly resistance 2 (0.8193). However, in case of the reverse movement and if the NZDUSD pair fails to break through the resistance level of 0.8193, the market will show a further decline to the 0.8054 level indicating a bearish mood in order to retest the weekly pivot point at this level.
EURNZD - Elliott Wave Analysis for September 11 - 2012
EURNZD - Elliott Wave Analysis for September 11 - 2012
Today's Support and Resistance Levels:
S1: 1.5710 R1: 1.5778
S2: 1.5689 R2: 1.5814
S3: 1.5667 R3: 1.5874
Technical Overview:
Not much has happened here. Green wave iv is still in progress. We are looking for green wave iv to ideally end at 1.5667 and take from there of in green wave v towards 1.5974. As we are entering the final series of waves four's and five's, the picture will likely be somewhat messy, but in overall we expect the first rally from 1.4968 to end near 1.6200. However, in the larger picture we should see much higher levels in longer-term.
Trading Recommendation:
We are still looking for buying EUR against NZD at 1.5675 with a 1.5580 stop and take profit at 1.6185.
Source: InstaForex
EURJPY Intraday Technical Analysis
EURJPY Intraday Technical Analysis - The spot rate tested yesterday the intermediate support of its medium term bullish channel at 99.70 supporting the hypothesis of a rebound. However, a break of these levels will free a large potential and reach the lower limit of its channel at 98.30.
Technical indicators provide sell signals but until the support is not broken, the assumption of a rebound is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
As the spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios: the first one is the hypothesis of a rebound where we recommend a buy on the level of 99.70 with the 1st objective at 100.30 and then at 100.50. A breakthrough of 99.50 will invalidate this scenario. The second scenario is a break of its support then we advise a “sell stop” which means selling the spot rate as soon as it is broken through its support of 99.70 with the 1st objective at 99.10 and then at 98.90. A breakthrough of 99.90 will invalidate this scenario.
Source: InstaForex
Euro Crisis Still Has "Long Way To Go", IMF's Zhu Says
Euro Crisis Still Has "Long Way To Go", IMF's Zhu Says - Europe still has a "long way to go" in resolving its debt crisis, International Monetary Fund Deputy Managing Director Zhu Min reportedly said Tuesday.
"The crisis is not over," he was quoted as saying during a speech at the World Economic Forum in the Chinese port city of Tianjin. "We are still in the middle" and "there is a long way to go," he said. Zhu also urged Europe to keep faith in the single currency.
On China, he said the economy is currently experiencing "soft landing." Stabilizing Chinese growth is of top priority and the IMF supports further policy easing in China, reports said quoting the official.
Source: InstaForex
Subscribe to:
Posts (Atom)