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Thread: Daily Market Outlook

  1. #111
    jebat66 is offline Senior Member
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    EUR/USD Wave Analysis, Weekly Review 2012-09-10 0/5




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    Wave Analysis:
    The slow growth of EUR/USD which started last week, finished with a significant rally which allowed the pair to fix above 28 figure. The quotes’ upward move started from August 16 low still looks like the inner wave structure of wave � with the extension in the wave 5. If it is so and taking into account the ratio between wave a (or wave 1) and � (or wave 3), we can expect a noticeable price rebound from the reached high or from the level of 1.2940 – 1.2950. At the same time, the fact that there is still a divergence between the direction of the main trend and MACD despite strong growth of the pair, we can expect the situation will turn against the euro in any moment.
    Target for correctional upward move in the terms of wave 5 in � or 3:
    1.2937 – 61.8% Fibonacci
    1.3148 – 76.4% Fibonacci
    Targets for down wave (probably 1 or a):
    1.2595 – 38.2% Fibonacci
    1.2384 – 23.6% Fibonacci
    Summary and Trading Recommendation:
    Last week the euro rate continued its correctional upward trend. Thus, the quotes rise in the terms of wave 5 in � or 3 is possible towards the levels of 1.2937 and 1.3148 which is equal to 61.8% and 76.4% of Fibonacci. MACD divergence is indicative of the down wave formation. In the terms of this wave, the pair may head to the levels of 1.2595 and 1.2384 which correspond to 38.2% and 23.6% of Fibonacci. However, the ascending channel demonstrates that the upward channel is still valid.

    Alexander Dneprovskiy 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 Alexander Dneprovskiy, Analytical expert
    InstaForex Companies Group 2007-2012

  2. #112
    jebat66 is offline Senior Member
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    AUDUSD Point and Figure Chart 2012-09-10 0/5




    AUDUSD on 503 Chart:
    The sellers failed to overcome the major uptrend line at 1.02 which resulted in the downward move of the pair.
    The main target for buyers is the resistance level of 1.06. After this level is broken, we will be able to reach 1.08.






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    AUDUSD on 303 Chart:
    The prevailing tendency is downtrend on 303 chart.
    Taking into account the trend observed on 503 chart, we are expecting the continuation of the upward movement to the resistance level of 1.049 and further to the resistance level of 1.06.
    We suggest to buy the pair.





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    Sergey Litvinenko 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 Sergey Litvinenko, Analytical expert
    InstaForex Companies Group 2007-2012

  3. #113
    jebat66 is offline Senior Member
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    GBP/USD. Forecast for September 10, 2012 2012-09-10 0/5




    We received important data on the real economic sector of the UK on Friday. The indicators were above expectations: industrial output increased 2.9%, consensus 1.6$. Manufacturing production gained 3.2% against 2.1%. The GDP outlook from NIESR for August was 0.2% in contrast to 0.3% in July. As the result, the pound grew at a slower pace amid the market optimism and closed the day at the level of 77 points.
    Today there is no news from Great Britain and the investors will be with the market tendency which is going to be neutral today. Industrial production in China was below expectations: 8.9% y/y against 9.0% while trade balance demonstrated a surplus of 26.7 bn against 18.9 bn. Japanese GDP for the second quarter dropped to 0.2% in contrast to 0.3%, while balance of payment made up 625.4 bn yen against 485.6 bn yen.
    Technically, we are anticipating the trading to be in the sideways channel of 1.5975 – 1.6034.





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    Yuriy Zaycev 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 Yuriy Zaycev, Analytical expert
    InstaForex Companies Group 2007-2012

  4. #114
    jebat66 is offline Senior Member
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    GBP/USD Intraday Technical Analysis and Trading Recommendations for September 10, 2012 2012-09-10 0/5




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    GBP/USD Hourly chart on the basis of the Linear Regression Channels of three different time periods:

    The GBP/USD pair expressed a strong bullish rejection towards the lower limit of the Yellow & Blue channels around 1.5920 which pushed the pair towards 1.6030 corresponding to the upper limit of the Yellow one where bearish domination was expressed during the last few hours of Friday.

    The GBP/USD pair has been trending up within the depicted Yellow channel after breaking through above price level of 1.5930 (the most recent support level now) reaching the upper limit of the Yellow channel at 1.6030.

    The GBP/USD pair seems to be looking foriIntraday Resistance at the upper limit of the channel around 1.6030. That's why breakdown of the mid-line of the Yellow channel and the lower limit of the Violet one around 1.5995 opens the way directly towards the lower limit of the channels around 1.5960 and probably 1.5940.

    Mohamed Samy 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 Mohamed Samy, Analytical expert
    InstaForex Companies Group 2007-2012

  5. #115
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    Gold Breaks Out Aggressively. Watch Out For Bull Traps...!! 2012-09-10 0/5




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    Technical Outlook and Chart Setups:
    Gold is out of consolidation as we had expected a few weeks back. But these are certainly not the levels to go long. A correction, more likely in 3 wave, is the most probable move at the moment.We expect the yellow metal to retrace at least till 1630 level which was resistance earlier. Predicting prices to hit fresh highs above 1930.00 at the moment is not possible. Every rally has to be followed up by a healthy correction, for the trend to continue. We recommend traders to stay away from buying at these levels.


    Trading Recommendations:

    Go short now at 1736.00, stop at 1750.00, minimum target at 1630.00.



    Good Luck !


    Performed by Harsh Japee, Analytical expert
    InstaForex Companies Group 2007-2012

  6. #116
    jebat66 is offline Senior Member
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    EUR/USD intraday: the upside prevails.


    Pivot: 1.2745.
    Our Preference: LONG positions above 1.2745 with targets @ 1.28 & 1.283.
    Alternative scenario: The downside penetration of 1.2745 will call for 1.2675 & 1.2625.
    Comment: the pair is facing a pull back on its support.


  7. #117
    jebat66 is offline Senior Member
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    GBP/USD intraday: the upside prevails.


    Pivot: 1.5975.
    Our Preference: LONG positions above 1.5975 with 1.6015 & 1.6035 as next targets.
    Alternative scenario: The downside penetration of 1.5975 will call for a slide towards 1.5945 & 1.591.
    Comment: the pair is on the upside and is challenging its resistance.


  8. #118
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    USD/CHF intraday: under pressure.


    Pivot: 0.95.
    Our Preference: SHORT positions below 0.95 with 0.943 & 0.94 as next targets.
    Alternative scenario: The upside penetration of 0.95 will call for 0.952 & 0.956.
    Comment: the pair is rebounding but stands below its resistance.


  9. #119
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    USD/JPY intraday: under pressure.


    Pivot: 78.50.
    Our Preference: SHORT positions below 78.5 with 78 & 77.75 as next targets.
    Alternative scenario: The upside penetration of 78.5 will call for a rebound towards 78.8 & 79.05.
    Comment: the pair stands below its new resistance and remains under pressure.


  10. #120
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    AUD/USD intraday: consolidation in place.


    Pivot: 1.037
    Our preference: Short positions below 1.037 with targets @ 1.03 & 1.0275 in extension.
    Alternative scenario: Above 1.037 look for further upside with 1.0405 & 1.043 as targets.
    Comment: as long as 1.037 is resistance, look for choppy price action with a bearish bias.


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