InstaForex Wave Analysis - page 129
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USD/CHF Wave Analysis for July 30, 2012
USD/CHF Elliott Wave
Last week the USD/CHF pair finished developing of the impulsive wave (1) (coloured green) of the bigger (A) wave (coloured orange). During the Friday's European session the USD/CHF pair we could observe an ascending movement towards the 0.9810 level and we can consider this move as the end of the 4 wave of the bigger wave (1). Therefore, during the New York session this major did not manage to hold this level and the price reached a new low at 0.9695 (5 wave end). Today the USD/CHF pair was trading in an upward move and we are expecting to see continuation of this bullish mood. In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (0.9970-09695) with Take Profit 1 at 0.9832 (50% of wave 1) and Take Profit 2 at 0.9865(61.8% of wave 1). Support at 0.9740 can be used as Stop Loss.
Support and Resistance
(S3) 0.9636 (S2) 0.9680 (S1) 0.9706 (PP) 0.9750 (R1) 0.9794 (R2) 0.9820 (R3) 0.9864
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9800 with Stop Loss 0.9740 Take Profit 1 at 0.9832 and Take Profit 2 at 0.9865 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Wave Analysis for July 30, 2012
AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in an upward move, developing impulsive wave 3 (coloured blue) of the bigger wave (3) (coloured green). During the Friday's Asian and European sessions we could observe an ascending movement towards the 1.0445 level. Therefore, during the New York session the AUD/USD pair continued trading in a bullish mood and price reached a new 13 weeks high at 1.0485 level. At the moment price is trading in a sideways move and we are expecting to see the price higher today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.0145-1.0443-1.0176) with Take Profit 1 at 1.0650 (138.2% of wave 1) and Take Profit 2 at 1.0731(161.8% of wave 1). Support at 1.0420 can be used as Stop Loss.
Support and Resistance
(S3) 1.0347 (S2) 1.0386 (S1) 1.0410 (PP) 1.0449 (R1) 1.0488 (R2) 1.0512 (R3) 1.0551
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0485 with Stop Loss 1.0420 Take Profit 1 at 1.0650 and Take Profit 2 at 1.0731 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GBP/JPY Under 122.00 Today - Wave Analysis for July 31, 2012
GBP/JPY Elliott Wave
Yesterday the GBP/JPY pair was trading in a downward move developing corrective wave A (coloured blue) of the bigger wave (2) (coloured green). During the Asian and European sessions we could observe a strong descending movement from 123.45 towards the 122.43 level and we can consider this move as the end of the corrective wave A. Therefore, during the yesterday’s New York session and today's Asian session this exotic currency pair started trading in a sideways move developing wave B (coloured blue) and we are expecting to see the price under 122.00 soon. In accordance with our wave rules and taking into account that the wave C retraces 100% of the wave A, we can define the potential targets with Fibonacci extensions (123.70-122.43-122.98) with Take Profit at 121.75 (100% of wave A). Resistance at 123.05 can be used as Stop Loss.
Support and Resistance
(S3) 121.85 (S2) 122.27 (S1) 122.54 (PP) 122.54 (R1) 123.39 (R2) 123.66 (R3) 124.09
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 122.55 with Stop Loss 123.05 and Take Profit at 121.75 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CHF Wave Analysis for July 31, 2012
USD/CHF Elliott Wave
Since our last analysis the USD/CHF pair was trading in a� upward move developing corrective wave A (coloured blue) of the bigger wave (2) (coloured green). During the yesterday’s European session we could observe an ascending movement towards the 0.9798 level. Therefore, during the first half of the New York session this major pair continued trading in a bullish mood and price reached 0.9822 level. We can consider this move as the end of the corrective A wave (coloured blue). Yesterday during the second half of the NY session and today in the course of the Asian one the USD/CHF pair retraced to the 0.9771 level (end of the B wave) and we are expecting to see price around 0.9870 today. In accordance with our wave rules and taking into account that the wave C retraces 100% of the wave A, we can define the potential targets with Fibonacci extensions (09695-0.9822-0.9771) with Take Profit at 0.9870 (100% of wave A). Support at 0.9770 can be used as Stop Loss. Also it is necessary to monitor the U.S. Core PCE Price Index m/m, Employment Cost Index q/q, Personal Spending m/m, S&P/CS Composite-20 HPI y/y, Chicago PMI, CB Consumer Confidence and Treasury Sec Geithner Speaks data that can change the rate of the pair.
Support and Resistance
(S3) 0.9705 (S2) 0.9736 (S1) 0.9755 (PP) 0.9787 (R1) 0.9818 (R2) 0.9837 (R3) 0.9869
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9800 with Stop Loss 0.9770 and Take Profit at 0.9870 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/NZD - Elliott Wave Analysis for July 31 - 2012
Today's Support and Resistance Levels:
S1: 1.5096 (possible bottom) R1: 1.5175
S2: 1.5045 R2: 1.5225
S3: 1.5000 R3: 1.5270
Technical Overview:
The break below 1.5131 signified that the decline from 1.6969 still had not found its final low. That said, after the break below 1.5131 we saw a perfect decline to the next support at 1.5096, which could mark the next bottom, however we now need a break above 1.5175 and more importantly 1.5225 to get the first signals that the test of 1.5096 possibly marked an important low.
As long as minor resistance at 1.5225 protects the upside we could see more downside pressure, but the downside momentum is clearly weakening on all time-frames, indicating a bottom should be in place soon.
Trading Recommendation:
Our stop at 1.5125 was hit yesterday. We will be looking for a new EUR buying opportunity at 1.5180 with a low risk stop at 1.5115.
Performed by Torben Melsted, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/NZD - Elliott Wave Analysis for August 1 - 2012
Today's Support and Resistance Levels: S1: 1.5096 (Possible bottom) R1: 1.5225S2: 1.5045 R2: 1.5270S3: 1.5000 R3: 1.5330
Technical Overview: We are still in some kind of bottom-building process and could possibly have seen the bottom with the test of 1.5096, but as long as minor resistance at 1.5225 protects the upside we must accept the possibility of one last decline below 1.5096 towards 1.5045.
However, a break above 1.5225 will ease the downside pressure, but a break above resistance at 1.5330 is needed to really indicate that a bottom is in place for a new rally above 1.5443 towards strong resistance near 1.5813.
Trading Recommendation:
If you are long from 1.5180 keep your low-risk stop at 1.5115. Otherwise wait for a break above 1.5225 (buy at 1.5230) with the same stop.
USD/JPY Intraday Technical Levels for August 1, 2012
Today’s Technical Levels:
Resistance 3: 78.39.
Resistance 2: 78.24.
Resistance 1: 78.08.
Support 1: 77.89.
Support 2: 77.74.
Support 3: 77.58.
Description:
Please, pay attention to the levels of support 3 (77.58) and resistance 3 (78.39). In general, when a level is touched, USD/JPY will rebound from the previous minimum by10 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.
Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GBP/JPY Weekly Wave Analysis 2012-08-01
GBP/JPY Elliott Wave
Since our last analysis the GBP/JPY pair was trading in a downward move developing last corrective wave C (coloured blue) of the bigger (2) wave (coloured green). From early European till the second half of the New York session this exotic pair was trading in a descending movement towards the 122.15 level. Today the GBP/JPY pair tried to push higher but after testing resistance level around 122.60, the price fell back to the 122.00 level and we can consider this move as the end of the (2) wave. At the moment this exotic currency finished developing of the C wave (coloured blue) and we can expect to see price higher for the next few days. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (120.81-123.70-121.95) with Take Profit 1 at 124.95 (100% of wave 1) and Take Profit 2 at 126.77 (161.8% of wave 1). Invalidation point at 120.81 can be used as Stop Loss.
Support and Resistance
(S3) 121.75 (S2) 122.06 (S1) 122.25 (PP) 122.57 (R1) 122.88 (R2) 123.07 (R3) 123.39
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 122.65 with Stop Loss 120.81, Take Profit 1 124.95 and Take Profit 2 126.77 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CHF Wave Analysis for August 1 - 2012
USD/CHF Elliott Wave
Yesterday the USD/CHF pair was trading in a downward move developing corrective wave B (coloured blue) of the bigger wave (2) (coloured green). During the European and New York trading sessions we could observe descending movement from 0.9805 towards the 0.9740 where this major pair found support and price started pushing higher at the end of NY session. Today the USD/CHF pair broke yesterday’s low at 09740 and price reached new 3 days low at 0.9735 level. We can consider this move as the end of the B wave (coloured blur) and we can expect to see price around 0.9850 today. In accordance with our wave rules and taking into account that the wave C retraces 100% of the wave A, we can define the potential targets with Fibonacci extensions (0.9695-0.9823-0.9735) with Take Profit at 0.9856 (100% of wave A). Resistance at 0.9700 can be used as Stop Loss.
Support and Resistance
(S3) 0.9705 (S2) 0.9730 (S1) 0.9745 (PP) 0.9769 (R1) 0.9794 (R2) 0.9809 (R3) 0.9833
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9775 with Stop Loss 0.9700 and Take Profit 0.9856 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/USD Intraday Technical Levels for August 1, 2012
Today’s Technical Levels:
Breakout BUY Level: 1.2349.
Strong Resistance: 1.2342.
Original Resistance: 1.2331.
Inner Sell Area: 1.2319.
Target Inner Area: 1.2291.
Inner Buy Area: 1.2230.
Original Support: 1.2251.
Strong Support: 1.2239.
Breakout SELL Level: 1.2232.
Description:
Today EUR/USD has support and resistance at 1.2251 and 1.2331 and is accompanied by strong support at 1.2239 and by 1.2342 as strong resistance.
If EUR/USD breaks out and closes below 1.2232 level today, this will indicate a considerable bearish strength, while if EUR/USD manages to break out and close above 1.2349 level, this will denote a high bullish strength. Alternatively, you can trade in a way to open BUY position at the level of 1.2230-and SELL position at 1.2319; in this case both targets should be located at the level of 1.2291.
Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com