InstaForex Wave Analysis - page 132
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EUR/USD Intraday Technical Analysis
The spot rate broke the intermediate resistance of its short-term bearish channel at 1.2270 leading to acceleration. A pull back is expected before reach of the upper limit of its channel - 1.2340. Moreover, the lowest point of Friday is a retracement of 64.8% of the rise between August 2 and 5, supporting the assumption of a pull back. However, a break through these levels will release good potential and reach the lower limit of its channel - 1.2230.
Technical indicators do not provide clear signals supporting the assumption of a pull back. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
If the spot rate tests its support, then we recommend 2 scenarios: the first one is the hypothesis of a pull back, then we recommend a buy at 1.2270 with the 1st objective at 1.2340, and further at 1.2360. A puncture of 1.2210 will invalidate this scenario. The second scenario is complementary of the first because it’s a “buy stop” when the spot rate will break the upper limit of its channel. We recommend to buy the spot rate as soon as it has broken through its resistance of 1.2340 with the 1st objective at 1.2400 and then at 1.2420. A breaking through 1.2320 will invalidate this scenario.
More analysis - at instaforex.com
EUR/JPY Wave Analysis for August 14,2012
EUR/JPY Elliott Wave
Last week the EUR/JPY pair was trading in a downward move developing corrective 2 wave (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the European session we could observe an ascending movement towards the 96.55 level. Therefore, during the New York session this currency pair continued trading in a bullish mood and the price reached a new 2-day high at 96.90 level. Today the EUR/JPY pair is trading around 97.00 level and we are expecting to see the price above 100.00 this week. 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 (94.92-97.80-95.70) with Take Profit 1 at 98.54 (100% of wave 1) and Take Profit 2 at 100.30 (161.8% of wave 1) To reduce the risk, we can use support point at 95.70 as Stop Loss.
Support and Resistance
(S3) 95.50 (S2) 95.87 (S1) 96.10 (PP) 96.47 (R1) 96.84 (R2) 97.07 (R3) 97.44
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 97.35 with Stop Loss 95.70, Take Profit 1 98.54 and Take Profit 2 100.30 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/USD Wave Analysis for August 14,2012
EUR/USD Elliott Wave
Since our last analysis, the EUR/USD pair was trading in an upward move, like we expected, developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green). During the European and the first half of the New York sessions we could observe an ascending movement from 1.2270 towards the 1.2373 level. Therefore, during the second half of the NY session this major pair did not manage to hold this level and the price slipped towards the 1.2325 level. At the moment the EUR/USD pair is testing yesterday’s high and we are expecting to see continuation of the bullish mood 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 (1.2133-1.2441-1.2259) with Take Profit 1 at 1.2558 (100% of wave 1) and Take Profit 2 at 1.2754 (161.8% of wave 1). To reduce the risk, we can use support point at 1.2240 as Stop Loss.
Support and Resistance
(S3) 1.2208 (S2) 1.2251 (S1) 1.2278 (PP) 1.2321 (R1) 1.2364 (R2) 1.2391 (R3) 1.2434
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2375 with Stop Loss 1.2240, Take Profit 1 1.2558 and Take Profit 2 1.2558 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/JPY Intraday Technical Levels for August 14, 2012
TODAY'S TECHNICAL LEVELS:
Resistance. 3: 78.83.
Resistance. 2: 78.68.
Resistance. 1: 78.52.
Support. 1: 78.33.
Support. 2: 78.18.
Support. 3: 78.02.
DESCRIPTION:
You should note for the levels of support. 3 (78.02) and resistance. 3 (78.83), in fact, the level being 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 of that these currencies have found trends today.
Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/NZD - Elliott Wave Analysis for August 15, 2012
Today's Support and Resistance Levels:
S1: 1.5282 R1: 1.5393
S2: 1.5266 R2: 1.5445
S3: 1.5250 R3: 1.5505
Technical Overview:
We are well on the way towards the first target for blue wave iii at 1.5443. Once we reach the blue wave iii target, we do expect a minor flat correction towards 1.5350 and maybe even 1.5293, but it should not move much deeper than that. After the correction, we will be looking for the one last rally in blue wave v towards 1.5492 as the first possible target.
Trading Recommendation:
You should be long EUR against NZD from 1.5210. Lift the stop from 1.4960 to 1.5190 and take profit at 1.5440.
More analysis - at instaforex.com
USD/CHF Wave Analysis for August 15,2012
USD/CHF Elliott Wave
For the last few days the USD/CHF pair was trading in a downward move developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the European and New York sessions we could observe an ascending movement from 0.9696 towards the 0.9751 and we can consider this move as the end of the corrective wave (2) (coloured purple). At the moment this major pair is at the beginning of the impulsive (3) wave (coloured purple) of the bigger 3 wave (coloured blue) and we are expecting to see the price at 0.9575 level soon. 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 (0.9809-0.9696-0.9751) with Take Profit 1 at 0.9642 (100% of wave 1) and Take Profit 2 at 0.9574 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 0.9809 as Stop Loss. Also it is necessary to monitor the U.S. Core CPI m/m, CPI m/m, Empire State Manufacturing Index, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m and Crude Oil Inventories data that can change the rate of the pair.
Support and Resistance
(S3) 0.9677 (S2) 0.9698 (S1) 0.9711 (PP) 0.9731 (R1) 0.9752 (R2) 0.9765 (R3) 0.9785
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9730 with Stop Loss 0.9809, Take Profit 1 0.9642, and Take Profit 2 0.9574 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/USD Wave Analysis for August 15,2012
EUR/USD Elliott Wave
Since our last analysis, the EUR/USD pair was trading in a downward move, developing corrective wave (2) (coloured purple) of the bigger 3 (coloured blue). During the Asian and early European sessions we could observe a strong ascending movement towards the 1.2385 level and we can consider this move as the end of the (1) wave (coloured purple). Therefore, during the second half of the EU session the EUR/USD did not manage to hold this level and the price slipped towards the 1.2316 level. At the moment we can observe the price trading in a sideways move and we are expecting to see it 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 (1.2240-1.2385-1.2316) with Take Profit 1 at 1.2460 (100% of wave 1) and Take Profit 2 at 1.2550 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.2240 as Stop Loss. Also it is necessary to monitor the U.S. Core CPI m/m, CPI m/m, Empire State Manufacturing Index, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m and Crude Oil Inventories data that can change the rate of the pair.
Support and Resistance
(S3) 1.2272 (S2) 1.2298 (S1) 1.2315 (PP) 1.2341 (R1) 1.2367 (R2) 1.2384 (R3) 1.2410
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2345 with Stop Loss 1.2240, Take Profit 1 1.2460, and Take Profit 2 1.2550 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/USD Intraday Technical Analysis
http://forex-images.instaforex.com/userfiles/20120814/eurjpy1.png The spot rate tested this week the upper limit of its medium term bearish channel at 1.2390 and declined. It is testing now the intermediate support of this one at 1.2260 and seems to initiate a rebound. However, a break of these levels would release a significant potential and enable the lower limit of its channel at 1.2210.Technical indicators do not provide clear signal but until the support is not broken, the assumption of a rebound is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. Moreover, the inferior band strengthens the intermediate support of its channel suggesting a more violent movement in case of break.
The spot rate tests its support that is why we recommend 2 scenarios: the first one is the hypothesis of a rebound. In this case we recommend a buy on the level of 1.2260 with the 1st objective at 1.2320 and then at 1.2340. A break through 1.2240 will invalidate this scenario. The second scenario is the hypothesis of a break of its support, here we recommend a “sell stop”. We suggest to sell the spot rate as soon as it is broken through its support of 1.2260 with the 1st objective at 1.2200 and then at 1.2180. A breakthrough 1.2280 will invalidate this scenario. http://instaforex.com/articles/ analysis - at instaforex.com
EUR/USD Intraday Technical Levels for August 17, 2012
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.2417.
Strong Resistance: 1.2410.
Original Resistance: 1.2398.
Inner Sell Area: 1.2386.
Target Inner Area: 1.2357.
Inner Buy Area: 1.2328.
Original Support: 1.2316.
Strong Support: 1.2304.
Breakout SELL Level: 1.2297.
At the moment EUR/USD has support and resistance at 1.2316 and 1.2398 and is accompanied by strong support at 1.2304 and by 1.2410 as strong resistance.
If EUR/USD breaks out and closes below a 1.2297-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2417-level, then this will denote high bullish strength. Alternatively for advance traders, you can trade in a way to open a BUY position at the level of 1.2328 and at 1.2386 – a SELL position, in this case both targets should be located at the level of 1.2357.
GBP/JPY Wave Analysis for August 17,2012
GBP/JPY Elliott Wave
Since our last analysis, the GBP/JPY pair was trading in an upward move, like we expected, developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green). During the yesterday's European and New York sessions we could observe an ascending movement from 123.80 towards the 124.87 level. At the moment we are close to 161.8% retracement, and we need to be prepared for entering short position when 4 wave (coloured blue) starts. In accordance with our wave rules and taking into account that the wave 4 retraces 100% of the wave 2, we can define the potential targets with measuring the 2 wave, with Take Profit at 123.70 (100% of wave 2). To reduce the risk, we can use support point at 125.50 as Stop Loss.
Support and Resistance
(S3) 123.30 (S2) 123.76 (S1) 124.04 (PP) 124.50 (R1) 124.96 (R2) 125.24 (R3) 125.70
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 125.20 with Stop Loss 125.50 and Take Profit 123.70 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com