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Wednesday 3 October 2012

Sometimes Too Risky to Trade

Yesterday's advanced signals consisted of only a trade analysis as the market consisted of high risk trades.

Check out our last Signal results at: http://www.brokersignals.com/#!signals/covx

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Technical Analysis

EUR / USD
Broke the 1.2860 level to rise we have reached the target of 1.2925, with the market currently is not able to set new highs but that stopped well above 1.2875. Possible attempts to assault the highest score made yesterday, but to attend a final break we expect the break at 1.2960.

USD / JPY
Supports short-term places to 77.75 worked very well and the prices are back above 78. We are now in the vicinity of two nice technical points, 78.00 and 78.20, which can lead to accelerations of 20/25 points. On an hourly chart, the signal to reverse the short-term trend has arrived, having returned above the level already indicated twice, that represented the watershed between up and down and across to new highs market could not confirm that a ' reversal actually took place. The Speculative Sentiment Index remains unbalanced, so be careful to potential downsides still in the air (important to use the stop, as always, but here we have a suggestion to keep them more rigid).

EUR/JPY
Strong rise in the exchange rate that has wiped out the points of dynamic resistance seen yesterday (EMA21) by reference to good above 100.00 and stopping again on the level of 101.00. Overcoming it could lead to attempts to climb towards 101.60, however, keep an eye on a potential bearish divergence in the formation on a 4 hourly graphic.

GBP/USD
We are still in front of a very important point of short resistance, 1.6175, that only in case of jump could open the way to 1.6220. New AUD/USD minimum on the Australian dollar, which could be extended in case of failure to 1.0275, with a potential for acceleration towards 1.0250. If we observe a 4-hour chart we realize how they have been broken and the prior lows as around 2.1 ¾ pass additional static levels, able to contain the bearish movements and that, if exceeded, could lead to what we saw.

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