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AUD/CAD candlestick analysis for June 20, 2011
Earlier in a daily graph the AUD/CAD has formed an Evening Star candlestick combination indicating bearish signal, confirmed further.
This candlestick combination was formed after the pair could not break the resistance level 1.0550, which means that the bulls could not solidify here and the bears started to increase their influence.
Break of the Fibonacci 23.6 correction level means that this point of view is correct. If the pair fixates below the support level 1.0189 will probably lead to downside movement to 0.9937 where the Fibonacci correction level 61.8 is also located.
Downside movement is supported by the divergence on the RSI and the Stochastic.
It is worth mentioning that stop loss should be placed slightly above the 1.0550 level as its break will target the pair to 1.0600.
http://instaforex.com/userfiles/20110620/Picture_10.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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USD/CHF candlestick analysis for June 20, 2011
In a 4-hour graph the USD/CHF currency pair is rolling back after it failed to break the 0.8552 resistance level. Nevertheless, the viewpoint at the pair remains bearish as it is still in a downtrend.
Earlier in a 4-hour graph the USD/CHF formed a Shooting Star candlestick, indicating downside movement confirmed further.
This candlestick shows that the pair demonstrated upside movement during several days, however, it rebounded after an unsuccessful attempt to break the 0.8946 level. At the next attempt of the bulls to fixate above 0.8900 the bears started to increase their influence and formed this candlestick.
Break of the support level 0.8747 proved this point of view. Successful break of the 0.8458 level, which is the Fibonacci projection level 61.8 from 0.9342 to 0.8552 on 0.8946, targeted the pair to 0.8350. Its break will probably lead to a downside movement to 0.8300.
Stop Loss should be placed slightly above 0.8552 as the break of this level will target the pair to 0.8747 and will lead to the formation of a short-term bottom at 0.8326. Besides, break of 0.8552 will probably point to the formation of Cup and Handle.
http://instaforex.com/userfiles/20110620/Picture_7.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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GBP/USD. Weekly and Monthly Pivot Points, For 20 - 24/ June, 2011
_____WEEKLY____
Weekly - R3 = 1.6760
Weekly - R2 = 1.6600
Weekly - R1 = 1.6397
Weekly Pivot = 1.6237
Weekly - S1 = 1.6034
Weekly - S2 = 1.5874
Weekly - S3 = 1.5671
http://instaforex.com/userfiles/20110620/mongbp20.gif
_____MONTHLY____
Monthly - R3 = 1.7450
Monthly - R2 = 1.7094
Monthly - R1 = 1.6770
Monthly Pivot = 1.6414
Monthly - S1 = 1.6090
Monthly - S2 = 1.5734
Monthly - S3 = 1.5410
http://instaforex.com/userfiles/20110620/weegbp20.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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AUD/USD. Weekly and Monthly Pivot Points, For 20 - 24/ June, 2011
_____WEEKLY_____
Weekly - R3 = 1.0968
Weekly - R2 = 1.0841
Weekly - R1 = 1.0731
Weekly Pivot = 1.0604
Weekly - S1 = 1.0494
Weekly - S2 = 1.0367
Weekly - S3 = 1.0257
http://instaforex.com/userfiles/20110620/weeaud20.gif
_____MONTHLY______
Monthly - R3 = 1.1545
Monthly - R2 = 1.1278
Monthly - R1 = 1.0973
Monthly Pivot = 1.0706
Monthly - S1 = 1.0401
Monthly - S2 = 1.0134
Monthly - S3 = 0.9829
http://instaforex.com/userfiles/20110620/monaud20.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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EUR/USD. Weekly and Monthly Pivot Points, For 20 - 24/ June, 2011
____WEEKLY_____
Weekly - R3 = 1.4943
Weekly - R2 = 1.4720
Weekly - R1 = 1.4516
Weekly Pivot = 1.4293
Weekly - S1 = 1.4089
Weekly - S2 = 1.3866
Weekly - S3 = 1.3662
http://instaforex.com/userfiles/20110620/weeeur20.gif
____MONTHLY______
Monthly - R3 = 1.5876
Monthly - R2 = 1.5409
Monthly - R1 = 1.4902
Monthly Pivot = 1.4435
Monthly - S1 = 1.3928
Monthly - S2 = 1.3461
Monthly - S3 = 1.2954
http://instaforex.com/userfiles/20110620/moneur20.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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Fundamental Analysis, June 20, 2011
This week there are two focus : first, the EU finance ministers meeting and secondly, the
U.S. Federal Reserve meeting. These two meetings are focused on the current market
problems, so the results could provide directional orientation of the major currencies in
the short term. In particular, the timing of the Federal Reserve meeting is close to the
period of the second stage of quantitative easing, so the market can concentrate on their
future monetary policy. Furthermore the International Monetary Fund (IMF) will pay its
share of the next tranche of aid to Greece to give more time to the European Union, and to
define a package to keep Greece afloat up to 2012.
Many investors believe that the European authorities are running out of time, warning that
decisions must be made by Greece, that the market sentiment will deteriorate further and
lead to a contagion or a more serious crisis.
The big question that concerns us is whether this crisis in Greece is merely a speculative
attack, or whether the country is receiving the punishment they deserve. Recall that, for
several months, the major rating agencies are lowering credit rating of the country
consistently, and firing the Credit Default Swap (CDS) of the country at record highs. Your
credit score is today "CCC" being very close to the level "D".
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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GBP/JPY Elliott wave count and Fibonacci levels - June 21, 2011
GBP/JPY is now moving within wave C of medium term downtrend - colored light green in the chart. Wave C was confirmed when the price broke below 129.74 (top of wave A). Within wave C we have A and B subwaves - colored red in the chart.
Now the targets below the current price level are Fibonacci retracements of 122.49-139.93, and expansions off 139.93-130.26-135.11, 135.11-129.74-132.30, 132.30-128.90-130.32.
Supports:
- 128.22 = contracted objective point (COP)
- 126.93-92 = confluence area of two objective points (OP)
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 132.30-128.90.
Resistances:
- 130.60 = .50 retracement
- 131.00 = .618 ret
http://instaforex.com/userfiles/2011...1-02-gj-en.gif
Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (10-20 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD Elliott wave count and Fibonacci levels - June 21, 2011
AUD/USD is now developing wave C of medium term downtrend - colored royal blue in the chart. Wave C has been confirmed since the price broke below 1.0523 (top of wave A). Within wave C there are A and B subwaves - colored magenta in the chart.
The targets of the downmove are Fibonacci retracements of 0.9707-1.1011, and expansions off 1.0774-1.0523-1.0714, 1.0714-1.0477-1.0634, 1.0634-1.0496-1.0615.
Supports:
- 1.0744 = objective point (OP)
- 1.0488 = contracted objective point (COP)
- 1.0463 = OP
- 1.0397-92 = confluence area of OP and expanded objective point (XOP)
- 1.0359 = .50 retracement
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 1.0774-1.0477, and expansions off 1.0477-1.0634-1.0496.
Resistances:
- 1.0653 = OP
- 1.0661 = .618 ret
- 1.0750 = XOP
http://instaforex.com/userfiles/2011...1-01-au-en.gif
Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator goes above the zero level (current prices) or gets into the overbought area (25-40 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/CAD candlestick analysis for June 21, 2011
The AUD/CAD is probably forming a platform for further decline. Earlier in a daily graph the AUD/CAD has formed an Evening Star candlestick combination indicating bearish signal, confirmed further. However, the AUD/CAD decline is limited near the 1.0285 level.
This candlestick combination was formed after the pair could not break the resistance level 1.0550, which means that the bulls could not solidify here and the bears started to increase their influence.
Break of the Fibonacci 23.6 correction level means that this point of view is correct. If the pair fixates below the support level 1.0189 will probably lead to downside movement to 0.9937 where the Fibonacci correction level 61.8 is also located.
Downside movement is supported by the divergence on the RSI and the Stochastic.
It is worth mentioning that stop loss should be placed slightly above the 1.0550 level as its break will target the pair to 1.0600.
http://instaforex.com/userfiles/20110621/Picture_8.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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USD/CAD candlestick analysis for June 21, 2011
Support levels: 0.9655, 0.9600, 0.9513
Resistance levels: 0.9972, 1.0050, 1.0100
In a 4-hour chart USD/CAD rolled back following a sharp increase fixed earlier and breaking the resistance level of 0.9840. A short-term view on this currency pair remains bullish amid persistent uptrend.
As it was mentioned before, until the 0.9655 support level is unbroken, USD/CAD may continue growing from a many year low 0.9445. In case 0.9655 support level is broen we should expect slight consolidation.
The break of 0.9721 resistance level targeted the currency pair to 0.9972. In case of successful testing a mid-term bottom may be formed at 0.9445. Further a break of 1.0380 will be suggestive of a rollback from 1.0680 being over and further upside movement may well be predicted.
It is worth noticing that in a 4-hour graph a Reverse Head and Shoulders figure was formed. A break of the neck line proved this point of view and targeted the currency pair to approximately 1.0050.
In case of a reverse, a break of the main support level of 0.9445 will open a way to 0.9400. There are also grounds to foresee further decline targeting 0.9353 which is projecting Fibonacci 100.0 from 1.0285 to 0.9666 up to 0.9972.
In the mid-run a break of 0.9930 support level pointed at continuing mid-term downtrend from 1.0363 (high of 2009) with a target of 0.9400. However, this downtrend is likely to be correction with a strong support level near 0.9056-0.9700.
Until 0.9972 resistance level is not broken the mid-term view on this currency pair will remain bullish.
In case of a reverse, a break of 1.0851 will confirm a break of downward trend from 1.3063. In this situation USD/CAD will show upside movement up to 1.1126 resistance level with a target to 1.1866.
http://instaforex.com/userfiles/20110621/Picture_11.png
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GBP/JPY Bullish Above 129,20 June 21, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110621/gbpjpy_21.gif
GBP/JPY
The wave of drops across the markets brought the United Kingdom pound – Japanese yen pair
all the way to its lowest and critical support levels in the region of 129.30. The
assessment is that so long as the pair is traded above the critical level of 129.30, it is
worth a buy position with views towards price rises to the high levels of 131.50 and 133.40
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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CRUDE OIL Bullish Outlook June 21, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110621/credde_21.gif
CRUDE OIL
In the four-hour chart, we can see the price of a barrel of oil has rebounded from its
lowest level in 91.14, is now trading above its monthly support around 93.29, however, the
price per barrel of oil shows an attractive opportunity to buy long term.
Ttherefore a return to the level of 93.30 or a close above 94.50 will be the beginning of a
new upward wave. with a target to the resistance level of 103.00 dollars per barrel of oil.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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USD/CHF wave analysis for June 21, 2011
http://instaforex.com/userfiles/20110621/CHF_h4.gif
In general as expected, during yesterday’s trading the USD/CHF currency pair has continued
to decline from the 0.8550 level. Therefore, such downside movement is becoming more and
more like the inner structure of the 5th wave. If so, the Swiss franc might continue to
recover, thus decreasing in the direction of the levels located near the 83 figure level.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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GBP/JPY Elliott wave count and Fibonacci levels - June 22, 2011
GBP/JPY is now moving within corrective wave B of medium term downtrend - colored magenta in the chart. Within this wave there are A, B and C subwaves of smaller degree - colored red in the chart. Now the targets of the upmove are Fibonacci retracements of 132.30-128.90 and expansions off 128.90-130.32-129.65.
Resistances:
- 130.53-60 = confluence area of contracted objective point (COP) and .50 retracement
- 131.00-07 = confluence area of .618 ret and objective point (OP)
- 131.95 = expanded objective point (XOP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 122.49-139.93, and expansions off 139.93-130.26-135.11, 135.11-129.74-132.30, 132.30-128.90-130.45.
Supports:
- 128.35 = COP
- 127.05 = OP
- 126.93 = COP
http://instaforex.com/userfiles/2011...2-02-gj-en.gif
Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (10-20 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com