Silver Technical Levels and Trading Recommendations for September 25, 2012

SmartForexAnalysis

Overview

The H4 chart shows today that silver is still trading between the Support level 33.90 and the Resistance level of 34.25. In case that silver continues its bearish view and manages to break this Support level, it will provide a good opportunity to sell below the Support level as well as will make it possible to reach the Support level of 32.50 as a level target. After that we should wait for breaking out of this Support level to continue the bearish move. In case silver is able to break the Support level of 32.25 and closes 4H below, we will get a bearish strength which will provide new sell signals and enable the Support level of 32.65 as a level target.
On the other hand, if silver reverses its bearish move and takes an upward direction after its rebound from the Support level 33.90 , this will be a strong indicator for the bullish move after closing 4H above the Support level enabling the Resistance level 34.25 again. In this case, we should wait for breaking this Resistance level to continue the bullish view. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level of 33.90 is unbroken, the upward move is still expected and invalidating the downward movement. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support levels

R3(35.60)
R2(35.00)
R1(34.25)
S1(33.90)
S2(33.25)
S3(32.65)

Trading Recommendations

According to previous analysis, we recommend selling in case of closing 4H below the Support level 33.90 with TP 33.35; SL closing 4H above the Support level might be appropriate. 

Performed by Analytical expert: Hossam Soliman Ali
InstaForex Companies Group © 2007-2012

 Published: 2012-09-25 12:07:02 UTC+00 50 min. ago

GBP/JPY Technical Levels and Trading Recommendations for September 25, 2012

SmartForexAnalysis

Overview

The H4 chart demonstrates today that the pair continues its bearish move till reaching the Support level 126.15. Currently, the pair is trying to break the Support level of 126.15 . Given that the pair manages to break this Support level and closes 4H below, we will receive a strong indicator for more bearish signals which will enable the Support level of 125.70 as a level target. Then we should wait for breaking of this Support level to continue the downward move and open the way towards the Support level of 125.30.
On the other hand, if the pair fails to break the Support level of 126.15 and bounces from it, it may reverse the bearish move taking an upward move enabling the Resistance level of 126.85. Then we should wait for breaking this Resistance level to provide new bullish signals. In case the pair is able to break the Resistance level and close 4H above, we will get a bullish strength providing new buy signals enabling the Resistance level of 125.75 as a level target. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level 125.80 is unbroken, the upward move is still expected invalidating the bearish outlook.

Resistance and Support Levels

R3(128.40)
R2(127.75)
R1(126.85)
S1(126.15)
S2(125.70)
S3(125.30)

Trading Recommendations

According to previous analysis, we recommend selling after breaking the Support level 126.15 and closing 4H below with TP 125.75; SL closing 4 hours above the Support level will be appropriate.

 

Performed by Analytical expert: Hossam Soliman Ali
InstaForex Companies Group © 2007-2012

 Published: 2012-09-25 10:54:14 UTC+00 2 hours, 3 min. ago

USD/CAD Intraday Technical Analysis and Trading Recommendations for September 25, 2012

SmartForexAnalysis

The USD/CAD pair found resistance around the price level of 0.9915 corresponding to the upper limit of the bearish channel breaking down the lower limit of the consolidation range at 0.9845 which previously acted as support level.

After breakdown of 0.9845, the market went to the downside reaching the price level of 0.9635 testing the lower limit of the depicted bearish long-term channel which expressed a considerable bullish strength.

The USD/CAD pair reacted strongly towards the upper limit of the depicted channel pushing the pair to the downside testing the intraday Support zone 0.9720-0.9700 (neckline of a possible H&S reversal pattern)

It's important to notice that the USD/CAD pair is probably establishing an ascending bottom around 0.9777 which may act as intraday support to be watched.

Price level of 0.9840 still should be watched for price action at retesting as it will probably offer a valid SELL entry with target at the lower limit of the channel around 0.9650. However, fixation above 0.9845 threatens again the bearish view confirming the possible bullish Head & Shoulders pattern depicted on the chart which will be targetting around 0.9920.

Performed by Analytical expert: Mohamed Samy
InstaForex Companies Group © 2007-2012

 Published: 2012-09-25 10:16:24 UTC+00 2 hours, 41 min. ago

GBP/USD Intraday Technical Analysis and Trading Recommendations for September 25, 2012

SmartForexAnalysis

The GBPUSD had one more indecisive movement on Tuesday manifested in the Doji daily candlestick which was followed by a bearish candlestick on Wednesday. However, the pair reacted strongly towards the price level of 1.6160 pushing the pair to test 1.6300 – 1.6350 zone.

On Friday, the GBP/USD pair almost reached the price level of 1.6300 when the market reacted strongly bearish which was manifested in the daily bearish hammer candlestick which strongly suggests an upcoming bearish retracement towards retesting of the broken long-term trend line around 1.6150-1.6100.

The GBP/USD pair is now trapped within consolidation range 1.6160-1.6300.

The view remains bullish in short-term with the test of 1.6300 – 1.6350 zone as long as we have daily closure above the broken long-term trendline depicted on the chart .

Support: 1.6230, 1.6200, 1.6180, 1.6150, 1.6125 and 1.6075.

Resistance: 1.6250, 1.6285, 1.6300, 1.6350 and 1.6390.

Intraday support is seen around 1.6160. However, an obvious break below that level could lead the price to neutral zone in nearest term testing 1.6130-1.6050, while a longer-term support is seen around price level 1.5920 (50% Fibonacci Level).

Performed by Analytical expert: Mohamed Samy
InstaForex Companies Group © 2007-2012

 Published: 2012-09-25 10:13:58 UTC+00 2 hours, 43 min. ago

USD/CHF Wave Analysis for September 25,2012

SmartForexAnalysis

USD/CHF Elliott Wave
For the last few days the USD/CHF pair was trading in a upward move, developing corrective (4) wave (coloured green) of the bigger wave (A) (coloured orange). Yesterday during the European session, we could observe an ascending movement towards the 0.9390 level. Therefore, during the early New York session this major pair did not manage to hold this level and price retraced back to 0.9354 level. At the moment, the USD/CHF pair is trading around 0.9370 level and we are expecting to see the price lower in the next few days, when development of the 5 impulsive wave starts. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring 1 wave, with Take Profit 1 at 0.9176(100% of wave 1). To reduce the risk, we can use resistance at 0.9450 level as Stop Loss. Also it is necessary to monitor the CHF SNB Chairman Jordan Speaks and U.S. S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, Treasury Sec Geithner Speaks data that can change the rate of the pair.

Support and Resistance
(S3) 0.9283 (S2) 0.9311 (S1) 0.9328 (PP) 0.9355 (R1) 0.9383 (R2) 0.9400 (R3) 0.9427

Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9330 with Stop Loss 0.9450 and Take Profit at 0.9176 are recommended.

Performed by Analytical expert: Nicola Delic
InstaForex Companies Group © 2007-2012

 Published: 2012-09-25 10:10:41 UTC+00 2 hours, 46 min. ago

EUR/USD. Forecast for September 21, 2012

SmartForexAnalytic

MT5- The hopes for the positive fundamentals were not realized. The descending movement continued after the Asian session. Manufacturing PMI in the Eurozone was above expectations (46.0 against 45.6), services PMI demonstrated worse results: 46.0 against 47.6. 10Y bonds auction was quite successful, the yield made up 5.67% against 6.65%, however, the stock yields grew from 5.69% to 5.77%. There were rumors that the yield rose as the result of speculations in order to make Spain ask for bailout. Same evening, the market got the news that Spain will ask for financial aid next week. After this information the euro reversed its downward movement despite poor jobless claims index from the USA and Markit manufacturing PMI.

We do not expect any macroeconomic data from the Eurozone and the USA today.

Technically, the growth is possible towards 1.3028 (but first we should see a breakout of 1.3002), 1.3081. However, due to yesterday’s fall, 1.2930 area can be tested once again.

Performed by Analytical expert: Yuriy Zaycev
InstaForex Companies Group © 2007-2012

 Published: 2012-09-21 08:19:51 UTC+00 2 days, 14 hours, 59 min. ago

-Today the Fed announcement- Fundamental Analysis, for September 13, 2012

MT5-This day was highly awaited by the markets, especially by New York stock market.
The Fed will announce its next steps at noon which will give stimulus to the U.S. economy, which in recent months demonstrated weakness of its key indicators such as employment growth.
In August employment figures were very low, with virtually zero inflation, and with the assurance that they will not move interest rates until 2014 and not until 2015, we expect that the Fed will announce a new bond purchase plan, called QE3. Will it be the solution? Probably not, but it will help to generate more movement in the economy.
Bernanke was very skeptical and pessimistic about the current situation as he saw that the $ 2.3 trillion that was used in two previous plans has not done much. For instance, the unemployment rate remains above 8%.
The fact that inflation does not grow despite mountains of money injected into the economy, demonstrates the magnitude of the crisis which started four years ago with the fall of Lehman Brothers. The U.S. economy had, however, entered recession in the fourth quarter of 2007.
Apart from the long-term consequences of present actions scheduled for today by the Fed, it calls attention to the prevailing climate of euphoria in the American stock exchanges. The Dow Jones is breaking records since December 2007 with a closing at 13,333 points Wednesday, although, it is just 9 points higher than Tuesday's close.
European currencies go down in these circumstances with a rare blend of optimism for the anticipated European Stability Mechanism, adopted on Tuesday in Germany, but they are also playing multi-month highs.
Naturally, with an announcement expected in the next few hours, the movements of the dollar pairs are measured and limited. But undoubtedly, the dollar will be shaken by the news of Bernanke and his people.
Is it so sure that the dollar will fall today? Actually, no. The leading currency is much oversold against the euro and the sterling, The Swiss franc and the yen only look slightly firmer against the Canadian dollar and the Australian dollar.
We have an impression that it will continue its downward path, but with a previous correction. Before QE3 starts, what would be the reason for this correction? Perhaps, Bernanke will announce something that will not completely satisfy the markets. The answer will be given at 12:30 ET.

If you need  personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

If you like my Fundamental analysis, please vote for me, at the portal MT5.com please login and then vote for me. Thanks.

Gerardo Porras Palomino is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

Performed by Analytical expert: Gerardo Porras Palomino
InstaForex Companies Group © 2007-2012

 Published: 2012-09-13 13:55:45 UTC+00 8 hours, 18 min. ag

Daily Trading Forecasts (September 13, 2012)

MT5
EURUSD: The price is presently above the support level at 1.2900. The next resistance level is 1.2950, and if this is broken, the price would target 1.3000.

USDCHF: In this market, further bearish move was rejected at the accumulation territory situated at 0.9350. The price is trying to rally temporarily to the resistance level at 0.9400, but this could be what it is called - temporary.

GBPUSD:  The price on this market has already been caught in an equilibrium zone as the cable tests the support level at 1.6100. If the support level proves valid, the price would test the resistance level at 1.6150.

EURJPY: The resistance level at 100.50 has been futilely tested by the price, as the Williams’ % Range is heading down from the oversold region. The psychological support level at 100.00 would allow the bulls to enter long at that level.

USDJPY: This is a bear market: the price is now threatening to go below 77.50. If this bearish propensity continues, the next target would be a demand zone at 77.00.

Performed by Analytical expert: Azeez Mustapha
InstaForex Companies Group © 2007-2012

 Published: 2012-09-13 11:44:41 UTC+00 10 hours, 27 min. ago

AUD/USD Wave Analysis for September 12, 2012

MT5-AUD/USD Elliott Wave
Yesterday, the AUD/USD pair was trading upward move, developing final C wave (coloured blue) of the bigger wave (B) (coloured green). During the European session, we could observe a strong ascending movement towards the 1.0504 level and we can consider this move as the end of the (B) wave. Therefore, during the early New York session, the AUD/USD pair did not manage to hold this level and the price started pushing lower when the development of the final (C) wave started. At the moment, this pair was trading around 1.0450 level and we are expecting to see the price lower today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.0504-1.0440-1.0487) with Take Profit at 1.0383 (161.8% of wave 1). Resistance Point at 1.0470 can be used as Stop Loss.
Support and Resistance
(S3) 1.0387 (S2) 1.0417 (S1) 1.0436 (PP) 1.0466 (R1) 1.0496 (R2) 1.0515 (R3) 1.0545
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0440 with Stop Loss 1.0370 and Take Profit 1.0383 are recommended.
Nicola Delic is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

Performed by Analytical expert: Nicola Delic
InstaForex Companies Group © 2007-2012

 Published: 2012-09-13 11:42:50 UTC+00 10 hours, 27 min. ago

Silver Technical Levels and Trading Recommendatios for September 13, 2012

MT5-The H4 chart shows today that silver takes a downward move after its rebound from the Resistance level of 34.00 and presently it is testing the Support level of 32.90 . If silver continues its bearish view and manages to break this Support level, it will provide a good opportunity to sell below the Support level as well as will make it possible to reach the Support level of 32.40 as a level target. After that we should wait for breaking out of this Support level to continue the bearish move. In case silver is able to break the Support level of 32.40 and closes 4H below, we will get a bearish strength which will provide new sell signals and enable the Support level of 31.90 as a level target.
On the other hand, if silver reverses its bearish move and takes an upward direction after its rebound from the Support level 32.90 , this will be a strong indicator for the bullish move after closing 4H above the Support level enabling the Resistance level 34.00. In this case, we should wait for breaking this Resistance level to continue the bullish view. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level of 32.90 is unbroken, the upward move is still expected and invalidating the downward movement. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support levels

R3(35.00)
R2(34.50)
R1(34.00)

S1(32.90)
S2(32.40)
S3(31.90)

Trading Recommendations

According to previous analysis, we recommend selling in case of closing 4H below the Support level 32.90 with TP 32.45; SL closing 4H above the Support level might be appropriate.

Performed by Analytical expert: Hossam Soliman Ali
InstaForex Companies Group © 2007-2012

 Published: 2012-09-13 11:41:32 UTC+00 10 hours, 26 min. ago

USD/CAD Wave Analysis for September 12, 2012

USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in a upward move, developing impulsive (3) wave (coloured purple) of the bigger A wave (coloured blue). Yesterday, during the Asian and European sessions, we could observe an ascending movement from 0.9714 towards the 0.9744 level. Therefore, during the New York session, this major pair continued trading in a bullish mood and the price reached 0.9768 level (new daily high). At the moment, the USD/CAD pair is developing final (5) wave (coloured purple) and we are expecting to see the price around 0.9750 level today. In accordance with our wave rules and taking into account that the wave B retraces 61.8% of the wave A, we can define the potential targets with Fibonacci retracements (0.9713-0.9790) with Take Profit at 0.9745 (61.8% of wave A). Resistance Point at 0.9800 can be used as Stop Loss.
Support and Resistance
(S3) 0.9695 (S2) 0.9715 (S1) 0.9727 (PP) 0.9748 (R1) 0.9768 (R2) 0.9780 (R3) 0.9801
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9790 with Stop Loss 0.9800 and Take Profit 0.9745 are recommended.

Nicola Delic is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

Performed by Analytical expert: Nicola Delic
InstaForex Companies Group © 2007-2012

 Published: 2012-09-13 11:41:12 UTC+00 10 hours, 23 min. ago