empty
 
 
05.04.2012 09:57 AM
IBM Shares Survey according to the Point and Figure Charting for April 5, 2012

This image is no longer relevant
This image is no longer relevant

Overview:

The GBP/USD pair has been moving downward respecting the depicted bearish channel since mid-September when the ongoing channel was initiated.

Recently, the market failed to express bullish breakout above the price level of 1.5760 (upper limit of the daily bearish channel).

Instead, extensive bearish breakout was applied against the price levels of 1.5540-1.5560 (this breakdown was successfully executed on December 23).

Daily closure below the recent bottoms established around 1.5540-1.5560 rendered the previous consolidation range as a bearish flag pattern with potential projected target at 1.5300.

The key level for today's movement is 1.5200. Persistent fixation below it signals more bearish dominance towards the lower limit of the movement channel around 1.5130 and probably 1.5100.

On the other hand, four-hour fixation above price level of 1.5200 pauses the current bearish decline exposing price level of 1.5260, 1.5370 and 1.5410.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback