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EUR/USD Intraday Technical Levels for October 17, 2012


TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.3167.

Strong Resistance: 1.3158.

Original Resistance: 1.3148.

Inner Sell Area: 1.3135.

Target Inner Area: 1.3103.

Inner Buy Area: 1.3072.

Original Support: 1.3060.

Strong Support: 1.3047.

Breakout SELL Level: 1.3039.


DESCRIPTION:

Today EUR/USD has support and resistance at 1.3060 and 1.3148. It is accompanied by strong support at 1.3047 and by 1.3158 as strong resistance.
If EUR/USD breaks out and closes below 1.3039 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3167 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 1.3072 and at 1.3135 a SELL position. In this case both targets should be located at the level of 1.3103.

More analysis - at instaforex.com

USD/JPY Intraday Technical Levels for October 18, 2012


TODAY's TECHNICAL LEVELS:

Resistance 3: 79.53.

Resistance 2: 79.38.

Resistance 1: 79.22

Support 1: 79.02.

Support 2: 78.87.

Support 3: 78.71.


DESCRIPTION:

Please, pay attention to the levels of support 3 (78.71) and resistance 3 (79.53). 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.

More analysis - at instaforex.com

EUR/NZD - Elliott Wave Analysis for October 19, 2012


Today's Support and Resistance Levels:

S1: 1.5923 R1: 1.5981

S2: 1.5891 R2: 1.6061

S3: 1.5831 R3: 1.6127


Technical Overview:

The blue wave ii correction should be over soon and we should be looking for a break above 1.5987; it is the confirmation of it. Once resistance at 1.5987 is broken we should see the next rally higher towards 1.6127 and 1.6215. It is likely to be the most powerful part of it. However, in the long term we should look for much higher levels as we should expect this wave 3 higher from 1.5453 to extend, and therefore take us up to 1.6967. Of cause this rally will not be in a straight line. There seems to be some doubts as to we will observe reversals along the way, but we consider the roadmap is pretty much in place.

If we see a break below 1.5923 it does not alter the overall picture. Only a break below 1.5788 will do that. A break below 1.5788 will call for a more complex correction development.


Trading Recommendation:

You should be long EUR from 1.5725 with a stop at 1.5860. If you are not long EUR already you should buy at 1.5925 with the same stop.

More analysis - at instaforex.com

EUR/USD Intraday Technical Levels for October 22, 2012


Today's Support and Resistance Levels:

Breakout BUY Level: 1.3085.

Strong Resistance: 1.3077.

Original Resistance: 1.3065.

Inner Sell Area: 1.3052.

Target Inner Area: 1.3022.

Inner Buy Area: 1.2991.

Original Support: 1.2979.

Strong Support: 1.2967.

Breakout SELL Level: 1.2959.


Description:

Today EUR/USD has support and resistance at 1.2979 and 1.3065. The rate is accompanied by strong support at 1.2967 and by 1.3077 as strong resistance.
If EUR/USD breaks out and closes below 1.2959 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and close above 1.3085 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 1.2991 and at 1.3052 a SELL position. In this case both targets should be located at the level of 1.3022.

More analysis - at instaforex.com

USD/JPY Intraday Technical Levels for October 23, 2012


TODAY's TECHNICAL LEVELS:

Resistance 3: 80.29.

Resistance 2: 80.13.

Resistance 1: 79.97.

Support 1: 79.78.

Support 2: 79.62.

Support 3: 79.46.


Description:

Please, pay attention to the levels of support 3 (79.46) and resistance 3 (80.29). 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.


More analysis - at instaforex.com

EUR/USD: Technical Analysis for October 24, 2012


Overview:

The EUR/USD pair has broken the resistance level and turned towards the support level near the two-month point of 1.2903. Therefore, the pair has already formed a strong support at 1.2803 / 1.2894. Moreover, having failed to close below 1.2900 yesterday, the pair started showing a bullish reaction at this level. It is necessary to mention that these levels coincide with strong levels for bulls on H4 chart; the pair has also formed a strong support at the level of 1.2803 / 1.2894. The pair will move upwards, it is convincing; the structure of the upside movement does not look corrective and is indicating a bullish opportunity above 1.2803. This can be a good sign for buy deals above 1.2803 / 1.2894 with the first target at 1.2970 initiating an uptrend in order to continue the bullish mood towards the point of 1.3015 and further to 1.3130. If the trend breaks the weekly pivot point (1.3017), then the pair will go upwards to these targets. However, it should also be noted that the price is still between 1.3090 and 1.2955, as the last strong resistance level (1.3140) is still able to begin a downtrend at this level. Thus, the market indicates a bearish opportunity at the level 1.3140 on H4 chart with the first target at 1.3090 and continues towards 1.3000.


Weekly Pivot Points:

R3: 1.3392
R2: 1.3266
R1: 1.3143
PP: 1.3017
S1: 1.2894
S2: 1.2768
S3: 1.2645


Observation (s):

If the trend is ascending, then the strength of the currency will be defined as following: EUR is an uptrend and USD is a downtrend.
Most of the traders use the Fibonacci retracement to determine accurately the psychological support and resistance levels.
Stop loss should NEVER exceed your maximum exposure amounts.
The market has a high volatile as usual if the last day had a huge volatility.


More analysis - at instaforex.com

USD/JPY Intraday Technical Levels for October 25, 2012


TODAY's TECHNICAL LEVELS:

Resistance 3: 80.34.
Resistance 2: 80.18.
Resistance 1: 79.96.
Support 1: 79.78.
Support 2: 79.62.
Support 3: 79.46.


DESCRIPTION:

Please, pay attention to the levels of support 3 (79.46) and resistance 3 (80.34). 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.


More analysis - at instaforex.com

USD/JPY Intraday Technical Levels for October 29, 2012


TODAY's TECHNICAL LEVELS:

Resistance 3: 80.07.
Resistance 2: 79.92.
Resistance 1: 7976.
Support 1: 79.56.
Support 2: 79.40.
Support 3: 79.24.


DESCRIPTION:

Please, pay attention to the levels of support 3 (79.24) and resistance 3 (80.07). 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.


More analysis - at instaforex.com

GBP/USD Intraday Technical Analysis


The spot rate is currently testing the intermediate support of its medium-term bearish channel at 1.6000 suggesting a rebound. However, a break of these levels will reach the lower limit of its channel at 1.5880.

Technical indicators provide sell signals, but until the support is not broken the assumption of a rebound is most likely. Bollinger bands have stabilized showing a more regular volatility.

The spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios. The first one is the hypothesis of a rebound where we recommend a buy on the level of 1.6000 with the 1st objective at 1.6060 and then at 1.6080. A breakthrough of 1.5980 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means to sell the spot rate as soon as it is broken through its support of 1.6000 with the 1st objective at 1.5940 and then at 1.5920. A breakthrough of 1.6020 will invalidate this scenario.


More analysis - at instaforex.com

USD/JPY Intraday Technical Levels for October 31, 2012


TODAY'S TECHNICAL LEVELS:

Resistance 3: 80.01.

Resistance 2: 80.86.

Resistance 1: 79.70.

Support 1: 79.51.

Support 2: 79.35.

Support 3: 79.19.


DESCRIPTION:

Please, pay attention to the levels of support 3 (79.19) and resistance 3 (80.01). 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.


More analysis - at instaforex.com