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Thread: Daily Market Outlook

  1. #511
    jebat66 is offline Senior Member
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    SILVER (Spot) intraday: the downside prevails.


    Pivot: 34.22
    Our Preference: SHORT positions below 34.22 with 33.52 & 33.3 in sight.
    Alternative scenario: The upside penetration of 34.22 will call for 34.5 & 35.1.
    Comment: as long as 34.22 is resistance, likely decline to 33.52.


  2. #512
    jebat66 is offline Senior Member
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    Crude Oil (Nov 12) intraday: further advance.


    Pivot: 91.00
    Our Preference: LONG positions above 91 with 92.9 & 93.7 as next targets.
    Alternative scenario: The downside breakout of 91 will open the way to 90.3 & 89.3.
    Comment: the immediate trend remains up and the momentum is strong.


  3. #513
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    AUD/USD Wave Analysis for October 10,2012 2012-10-10 0/5




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    AUD/USD Elliott Wave
    Yesterday the AUD/USD pair was trading in a downward move, developing impulsive 5 wave (coloured blue) of the bigger (3) wave (coloured green). During the early Asian session we could observe strong ascending movement from 1.0190 towards the 1.0246 level. Therefore, during the European and New York sessions the AUD/USD pair did not manage to hold this level and price started pushing lower reaching a new daily low at 1.0174 level. This currency pair is trading around 1.0215 level at the moment and we are expecting to see price lower for the next few days. 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 wave 1, with Take Profit at 1.0068 (100% of wave 1). To reduce the risk, we can use invalidation at 1.0250 level as Stop Loss. Also it is necessary to monitor AUD Westpac Consumer Sentiment and U.S. FOMC Member Yellen Speaks, 10 Year Bond Auction, Beige Book data that can change the rate of the pair.
    Support and Resistance
    (S3) 1.0137 (S2) 1.0164 (S1) 1.0181 (PP) 1.0209 (R1) 1.0236 (R2) 1.0253 (R3) 1.0281
    Trading Forecast
    Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0200 with Stop Loss 1.0250 and Take Profit at 1.0068 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 Nicola Delic, Analytical expert
    InstaForex Companies Group 2007-2012

  4. #514
    jebat66 is offline Senior Member
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    GBP/USD Sell Bellow Fractal 1.6128 - For October 09/ 2012 (Daily Strategy) 2012-10-09 4/5


    The pound touched 1.60 as a result of a UK trade balance deficit which was higher than it was expected. The psychological level of 1.60 is the last support imagination, since the pair has technical support at 1.5956.

    A daily close below 1.60 will be the starting point of the pair’s decline to levels of 1.58. There is probably a rebound above 1.60, until strong resistance at 1.6128. Therefore, it is recommended selling at 1.6128 with targets until 1.5956 (daily fractal).





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

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

    Gerardo Porras 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 Gerardo Porras, Analytical expert
    InstaForex Companies Group 2007-2012

  5. #515
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    USD/CAD Wave Analysis for October 10,2012 2012-10-10 0/5




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    USD/CAD Elliott Wave
    Since our last analysis, the USD/CAD pair was trading in an upward move like we expected, developing corrective wave (C) (coloured green) of the bigger wave (2) (coloured orange). Yesterday, during the Asian and European sessions we could observe ascending movement from 0.9745 towards the 0.9770 level. Therefore, during the New York session this major pair continued trading in a bullish mood and price reached 0.9807 level. We can consider this move as the end of the wave (2) (coloured orange). The USD/CAD pair is trading around 0.9790 level at the moment and we are expecting to see price around 0.9565 level soon. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1, with Take Profit at 0.9658 (100% of wave 1) and Take Profit 2 at 0.9566 (161.8% of wave 1). To reduce the risk, we can use invalidation at 0.9808 level as Stop Loss. Also it is necessary to monitor U.S. FOMC Member Yellen Speaks, 10 Year Bond Auction, Beige Book data that can change the rate of the pair.
    Support and Resistance
    (S3) 0.9714 (S2) 0.9738 (S1) 0.9753 (PP) 0.9777 (R1) 0.9801 (R2) 0.9816 (R3) 0.9840
    Trading Forecast
    Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9775 with Stop Loss 0.9808, Take Profit at 0.9658, and Take Profit 2 at 0.9566 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 Nicola Delic, Analytical expert
    InstaForex Companies Group 2007-2012

  6. #516
    jebat66 is offline Senior Member
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    EurJpy Is Still Supported By Trendline. Look For A Bullish Bounce Here 2012-10-10 0/5




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    Technical Outlook and Chart Setups:

    As depicted above, prices are testing the trend line that offered support to the single currency. A bullish bounce here would change the outlook. Short-term timeframes are already suggesting/hinting a possible reversal from here on. Intermediary support is between 99.50 and 100.00 levels. On the flip side, a clear break would suggest further bearishness towards 98.00 level in the coming sessions. It is not recommended to go aggressively short at the moment since a bullish reversal is possible. Look out for opportunities to go long.

    Trade Recommendations:

    Book profits from the short positions taken earlier. Go long now. Stop at 99.10. Target open.



    Good Luck!

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

  7. #517
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    1.4900 Still Remains A Possibility For GbpChf 2012-10-10 5/5




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    Technical Outlook and Chart Setups:

    As it was discussed yesterday, the single currency pair produced Bullish Engulfing Pattern just shy of 1.4900 level. Longs were recommended around 1.5 level and prices still have a bit more room left on the upside. Sequence of lower lows and lower highs is forming at the moment, so it is suggested to book small profits on long positions. As depicted above, the downside Fibonacci extensions spread through 1.4900 (shown in red). Furthermore, trend line convergence is also at the same level. There is a possibility that prices fall back to 1.4900 and bounce thereafter. On the other side, bulls will gain more makeweight if prices take out 1.5250 resistance from here on. Keeping it simple, taking small profits should be the trade mantra. 1.4900 remains key to the bears, while 1.5250 remains key to the bulls.

    Trade Recommendations:

    Book profits from longs taken yesterday. Scalp between 1.4900 (go long) and 1.5100 (go short).



    Good Luck!

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

  8. #518
    jebat66 is offline Senior Member
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    USD/JPY Intraday Technical Levels for October 10, 2012 2012-10-10 0/5




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    TODAY's TECHNICAL LEVELS:

    Resistance 3: 78.66.

    Resistance 2: 78.51.

    Resistance 1: 78.35.

    Support 1: 78.16.

    Support 2: 78.01.

    Support 3: 77.85.


    DESCRIPTION:



    Please, pay attention to the levels of support 3 (77.85) and resistance 3 (78.66). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.





    Best regards,
    Arief Makmur
    Official Analyst of InstaForex Companies Group
    InstaForex Companies Group
    http://instaforex.com
    Email : Arief.jakarta@indo.instaforex.com

    Arief Makmur 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 Arief Makmur, Analytical expert
    InstaForex Companies Group 2007-2012

  9. #519
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    EUR/USD Intraday Technical Levels for October 10, 2012 2012-10-10 0/5




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    TODAY's TECHNICAL LEVELS:

    Breakout BUY Level: 1.2920.

    Strong Resistance: 1.2912.

    Original Resistance: 1.2900.

    Inner Sell Area: 1.2888.

    Target Inner Area: 1.2857.

    Inner Buy Area: 1.2827.

    Original Support: 1.2814.

    Strong Support: 1.2802.

    Breakout SELL Level: 1.2795.


    DESCRIPTION:



    Today EUR/USD has support and resistance at 1.2814 and 1.2900 and is accompanied by strong support at 1.2802 and by 1.2912 as strong resistance.
    If EUR/USD breaks out and closes below a 1.2795 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and close above 1.2920 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.2827 and at 1.2888 a SELL position. In this case both targets should be located at the level of 1.2857.







    Best regards,
    Arief Makmur
    Official Analyst of InstaForex Companies Group
    InstaForex Companies Group
    http://instaforex.com
    Email : Arief.jakarta@indo.instaforex.com

    Arief Makmur 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 Arief Makmur, Analytical expert
    InstaForex Companies Group 2007-2012

  10. #520
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    NZD/USD: Technical Analysis for October 10, 2012 2012-10-10 0/5



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    Weekly Pivot Points:

    R3: 0.8478
    R2: 0.8407
    R1: 0.8293
    PP: 0.8222
    S1: 0.8108
    S2: 0.8037
    S3: 0.7923


    Overview:
    The NZD/USD pair is expected to continue the movement from the point of 0.8151. Thus, the kiwi shows the signs of strength, following the breakdown of the highest level 0.8151. This fact can be considered as a good signal for BUY deals above this strong support (0.8100) with the first targets at 0.8222 and 0.8290 (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 1 (0.8290). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8290, the market will show a further decline to the 0.8253 level indicating a bearish mood in order to retest the weekly pivot point at the level of 0.8222.

    If you have any questions or requests, please feel free to contact me mourad.elkeddani@analytics.instaforex.com.


    Mourad El Keddani 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 Mourad El Keddani, Analytical expert
    InstaForex Companies Group 2007-2012

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