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  #21 (permalink)  
Old 19-11-2010, 10:40 PM
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Default GBP/USD Intraday Technical analysis 2010-11-19


The spot rates approach the upper limit of their medium-term downtrend channel at 1.6095 suggesting a decline in the short term. However a breakout in that area will free up a significant potential and begin an upward trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance level at 1.6095 with a 1st objective of 1.6160, then 1.6190. A breakthrough of 1.6070 will invalidate this scenario.


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  #22 (permalink)  
Old 22-11-2010, 06:45 PM
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Default The EUR/USD technical analysis and trading recommendations for November 22


Overview:
As it was forecasted the sell signal cancelled, the downside movement ended and buy signal with the target level of 1.3953 formed. The current signal is strong and confirmed, as the Chinkou Span managed to fixate above the price curve and price entered the Ishimoku cloud. The current target for the uprising movement is the upper limit of the Ishimoku Cloud (1.3923), which is also a resistance level. In case the first resistance level is broken through the next target will be the second resistance level of 1.4098. The Kijun-Sen (1.3620) is a critical level above which the upside movement is observed; in case the price moves bellow this level the long positions should be cut. The Chinkou Span is above the price graph, thus confirming the current buy signal. The Bollinger Bands show the beginning of the uptrend, the lines are diverging and directed upside. MACD is ascending, thus confirming the current upwards movement.

Trading recommendations:
Currently, it is recommended trade up with the target to 1.3923; in case this level is broken through then the target will be 1.4098. The stop-loss is set below 1.3620. If the MACD reverses downside the long positions should be cut.


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  #23 (permalink)  
Old 22-11-2010, 06:47 PM
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Default GBP/USD Intraday Technical analysis 2010-11-22



The spot rate approached the upper limit of its medium-term downtrend channel at 1.6090. A breakthrough of this area will release a significant potential for the beginning of an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken out its resistance level at 1.6090 with a 1st objective of 1.6160, then 1.6190. A breakthrough of 1.6070 will invalidate this scenario.

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Old 24-11-2010, 10:46 PM
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Default EUR/USD Analysis by Elliot Waves, November 24, 2010 (Weekly Strategy)



EUR/USD

The technical analysis denotes that the level of 1.3180 will be very meaningful support levels that may serve as a key point for a buy deal. The EUR/USD pair may stretch the borders of correction and reach its final mark around 1.3070, where it probably will reinforce the buy position once more. Our exit goals are forecasted with the help of 5th Elliot cycle wave, and are located around 1.4100 and 1.4450; 1.4500 levels respectively.



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  #25 (permalink)  
Old 24-11-2010, 10:47 PM
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Default GBP/USD Intraday Technical analysis 2010-11-24



Yesterday the spot rate rebounded from the lower limit of its medium term downtrend channel at 1.5760 and approached its intermediate resistance level of 1.5880. A breakout of this zone will allow pair to reach the upper limit of its channel at 1.6050.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance level in 1.5880 with a 1st objective of 1.5980, then 1.6020. A breakthrough of 1.5850 will invalidate this scenario.

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  #26 (permalink)  
Old 25-11-2010, 10:05 PM
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Default Fundamental Analysis, November 25, 2010

The price of crude oil has recorded yesterday its sharpest advance in the last four months, jumping up by over 3% to a level of 84 US dollars for one barrel during electronic trading at the New York Commodities exchange. The price of gold, in the meanwhile, recorded a slight descent by 0.4% to a level of 1372 US dollars for one ounce of gold.
Wall Street trading closed yesterday on index rises inspired by positive macroeconomic data from the labor market. By the end of the trading day, the Dow Jones Industrial Average had strengthened by 1.4% to 11,188 points, the NASDAQ index ticked up by 1.9% to 2,543 points, whereas the S&P 500 had risen by 1.5% to 1,198 points. Today the stock markets in the United States will be closed for Thanksgiving.
Index rises have been recorded this morning in the Asian stock markets for the first time in three days. As such the Tokyo stock exchange has recorded a 0.8% rise, the Hong Kong exchange climbs about 1%, and the Seoul exchange climbs slightly by 0.2%.
In the American macroeconomic arena, the Irish government had published data yesterday regarding its new austerity plan including the reduction of government deficits by 15 billion Euros (4% of the nation's GDP) over 4 years. The program includes a 10 billion expenditures cut as well as new taxes that will increase government revenue by 5 billion Euros.
The Bureau of Labor Statistics reported yesterday that the amount of new unemployment claims in the United States had fallen last week by 34 thousand to 407 thousand, the lowest level since July 2008. The reduction was far sharper than predicted by analysts, who expected to see 435 thousand new unemployment claims. Furthermore, it was reported that private consumption in the United States grew by 0.4% in October, slightly lower than economists' predictions of a 0.5% rise. Furthermore, the order data for non-consumable products had descended by 3.3% in October as compared to the previous month, while analysts expected only a 0.1% decline in orders.





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  #27 (permalink)  
Old 25-11-2010, 10:07 PM
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Default EUR/USD Intraday Technical analysis 2010-11-25


The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.3340. A breakout of this area will free a significant potential for the brginning of an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance level at 1.3340 with a 1st objective of 1.3420, then 1.3460. A breakthrough at 1.3310 will invalidate this scenario.

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  #28 (permalink)  
Old 26-11-2010, 10:24 PM
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Default Fundamental Analysis, November 26, 2010

Index declines have been recorded this morning in the Asian stock markets, led by South Korean and commodities stock due to China's attempts to bring inflation under control, the debt crisis in Europe and the tensions in South Korea. As such, the Tokyo stock exchange drops 0.2%, the Hong Kong stock exchange drops about 0.1%, the Seoul stock exchange dives about 1.3%, and the Shanghai exchange retreats by 0.5%.

The European debt crisis is expanding, with Portugal and Spain at the center of concern these days, due to investors' fears that, should the Portuguese crisis worsen, it will expand also to neighboring Spain. Interest rates on Portuguese ten-year bonds have jumped up to 7% yesterday, and those on Spanish bonds leaped up to 5.08%. Furthermore, there exist concerns that the European aid fund is not large enough to also rescue Spain, the 4th largest Eurozone economy. It must be noted that Spain's economy is largest than those of Greece, Ireland, and Portugal combined. That said, the Spanish deputy Minister of Finance stated yesterday that the country would not require funding until the end of the year.

In the same context, the German chancellor, Angela Merkel, clarified in her Berlin speech that despite European concerns over the Irish debt crisis threatening to engulf other Eurozone states, so far no country is required to reorganize its debt. The chancellor added that Germany is ready to act in solidarity with its European partners to preserve the market strength of the Euro.

Today is “Black Friday” in the United States, the opening shot for the holiday shopping season in the United States. As in every year, investors will be watching retail chain sales closely, as they have long become an index of the strength of private consumption, and thus the overall state of the American economy.

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  #29 (permalink)  
Old 26-11-2010, 10:27 PM
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Default Candlestick analysis of the GBP/USD for 26/11/2010

On a 4-hour graph the GBP/USD currency pair is continuing to decline. The viewpoint on the currency pair is bearish, as earlier the combination of candlesticks Bearish Engulfing formed; this combination indicates the decrease, confirmed further.
This combination of candlesticks appeared after the currency pair could not break through the resistance level near 1.6085-1.6096, which means that the bulls did not manage to solidify here. Further the bears started to increase their presence.
The breakout of 1.5841 confirms this point of view. After a pullback the pair resumed its decline with the target to 1.5651.
In case the resistance level of 1.6096 is breached then short positions should be closed, as it will lead to advance to 1.6175.

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  #30 (permalink)  
Old 26-11-2010, 10:37 PM
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Default The EUR/USD technical analysis and trading recommendations for November 26


Overview:
The sell signal with the target to 1.2949 is still observed. The current signal is strong and confirmed, as the price is below the Ishimoku Cloud and the Chinkou Span is below the price graph. That is why the first target for the downside movement is the second support level of 1.3315, which the price reached but has not yet overcome. In case the second resistance level is passed the next target will be the third support level of 1.3186. The critical level below which the downside movement is presented is Kijun-Sen (1.3530), it is recommended to cut short positions above this level The Chinkou Span is below the price graph, thus confirming the current sell signal. Bollinger Bands show the continuation of downwards movement, the lines are diverging and directed down. MACD is ascending, thus showing the slight correction movement.

Trading recommendations:
Currently, it is recommended to trade down with the target to 1.3186, we enter the market only after the price fixates below 1.3315. Stop Loss is placed above 1.3530. Also in order to trade down it is necessary to wait for MACD reverses downside.


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