InstaForex Wave Analysis - page 158
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EUR/JPY technical analysis for June 24, 2013
For today, EUR/JPY seems to have got a bullish momentum again, but the momentum is not strong enough because we spotted that EUR/JPY has already touch the EMA (100), this means the weak signal of the current trend (bullish), so please be prepared for unexpected reversal moves on this currency.
RECOMMENDATION:
Buy stop (pending order) at 129.26.
Take profit at 129.40.
Stop loss at 129.16.
More analysis - at instaforex.com
USD/CHF technical analysis for June 26, 2013
Overview:
USD/CHF's subsequent sharp fall suggests that decline from 0.9579 had resumed to test 0.9382. Therefore, the pair has already formed a strong support at the psychological level of 0.9130. It should be noted that the price has still been trapped between 0.9310 and 0.9220. Moreover, it couldn't close below this psychological level, while the price has been set above it for two weeks, hence the market started showing bullish signs. Consequently, it is a good sign to buy above 0.9130 with the first target of 0.9118 (Pivot point), and continue towards 0.9490. However, If the trend breaks this level and closes below it (0.9480), it will be a downside momentum. The structure of the fall does not look corrective, hence the market will indicate a bearish opportunity below 0.9480, subsequently the support will be become a resistance. It will be a good sign to sell below 0.9480 with the target at 0.9420. Further, it will be resumed towards 0.9132 in order to form a double bottom.
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EUR/JPY technical analysis for June 28, 2013
Since the 128.00 level was already breached yesterday, EUR/JPY started a new direction, now this currency is about to head up: all the three moving averages make a Golden Cross pattern.
RECOMMENDATION:
Buy stop (pending order) at 129.51.
Take profit at 129.65.
Stop loss at 129.41.
More analysis - at instaforex.com
EUR/JPY technical analysis for July 1, 2013
The EUR/JPY is still in the uptrend movement now; this fact has been already indicated by all the three "Golden Cross" chart patterns created by Moving Averages. As long as the retrachement from the EUR/JPY do not touch the EMA 100 (Green), the uptrend situation will continue.
RECOMMENDATION:
BUY Stop (Pending Order) @ 129.51.
Take Profit @ 129.65.
Stop Loss @ 129.41.
More analysis - at instaforex.com
EUR/JPY technical analysis for July 2, 2013
If we look at the chart, all the three moving averages forming Golden Cross pattern are still pointing to the fact that the uptrend situation is still continuing for EUR/JPY; however, this currency pair must have a small retracement as the element from the healthy uptrend; as long as the retracement does not touch the 129.00 and/or the EMA 100 (green); the uptrend situation for EUR/JPY is still in place.
RECOMMENDATION:
Buy stop (pending order) at 130.26.
Take profit at 130.40.
Stop loss at 130.16.
EUR/JPY technical analysis for July 4, 2013
Yesterday, EUR/JPY already breached bellow the EMA 100 (green) and went back above the EMA 100 (green) again. The bullish situation has already slowed down and the EMA 14 (red) is now between the EMA 34 (blue) and the EMA 100 (green). It indicates that EUR/JPY is now in the ranging situation.
RECOMMENDATION:
BUY Stop (Pending Order) @ 130.01.
Take Profit @ 130.15.
Stop Loss @ 129.91
Alternative:
Sell stop (pending order) at 129.46.
Take profit at 129.35.
Stop loss at 129.56.
More analysis - at instaforex.com
EUR/JPY technical analysis for July 5, 2013
Yesterday the EUR/JPY confirm change the course to the downside, this indicated by the candlestick already breach bellow the EMA 100(green); however on 30 minute charts they form the triangle pattern that indicates that there is decreased volatility and the market turns to be "choppy". This kind of market situation usually happens amid such important news as the US Non Farm Payrolls and the US Unemployment Rate, released every first Friday. So be cautious with this news release tonight. It is better to close all the positions one hour before the news release.
RECOMMENDATION :
No trades for today.
More analysis - at instaforex.com
Overview:
The resistance of the pair USD/CAD sets at the level of 1.0585, therefore the bears are going to sell below 1.0608 because there is a double top on the price 1.0608. It should also be noted that the resistance sets at the level of 1.0585, thus swing trade at 1.0608/1.0585 in order to sell with the target of 1.0480, it might resume to 1.0435. Additionally, the trend will call for a bearish market on the level of 1.0585, there is a bearish channel. It might be informing that the stop loss should never exceed your maximum exposure amounts. Hence, set a stop loss above 1.0640. However, the USD/CAD pair has still been trapped between 1.0375 (61.8% of Fibonacci retracement levels) and 1.0555 (100% of Fibonacci retracement levels). At the same time, the support sets at the level of 1.0400, then the bulls are going to buy above 1.0400 with the first target of 1.0483, it might resume to 1.0540.
EUR/JPY technical analysis for July 10, 2013
The EUR have get a pressure from the yen, this situation already confirmed by all the three Moving Average already that form the "Death Cross" pattern; please pay attention to the FOMC Meeting Minutes and Mr. Ben Bernanke speech tonight.
RECOMMENDATION:
SELL Stop (Pending Order) @ 128.99.
Take Profit @ 128.85.
Stop Loss @ 129.09.
The USD/CAD pair rose steeply last week approaching the key resistance level of the ascending channel around at 1.0530 as depicted in the chart. Since then, the pair has established a consolidation range between 1.0450-1.0560. Despite the signs of bearish reversal expressed around 1.0550, all trials for breakdown below 1.0450-1.0425 have been aborted untill we had a bullish breakout above 1.0555 on Friday. This breakout rendered this price level a valid BUY entry on retesting which took place Yesterday with SL as 4H closure below 1.0500 ( mid-range support ). This bullish breakout has a projection target extending up to 1.0670. However, we should notice the price action around 1.0655 as it corresponds to previous top that goes back to October 2011.
More analysis - at instaforex.com