InstaForex Wave Analysis - page 135
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USD/CHF Wave Analysis for August 28,2012
USD/CHF Elliott Wave
Since our last analysis the USD/CHF pair was trading in a upward move finishing corrective (4) wave (coloured purple) of the bigger 3 wave (coloured blue). Yesterday during the early European session we could observe a descending movement towards the 0.9580 and we can consider this move as the end of the B wave of the bigger (4) wave (coloured purple). Therefore, during the New York session the USD/CHF pair start pushing higher when developing the final C wave. At the moment we can observe the start of the final 5 wave (coloured purple) of the bigger 3 wave (coloured blue) and we can expect to see price around 0.9416 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 (0.9798-0.9699-0.9767), with Take Profit at 0.9416 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 0.9696 level as Stop Loss. Also it is necessary to monitor the CHF Employment Level and U.S. S&P/CS Composite-20 HPI y/y, CB Consumer Confidence data that can change the rate of the pair.
Support and Resistance
(S3) 0.9566 (S2) 0.9579 (S1) 0.9588 (PP) 0.9601 (R1) 0.9614 (R2) 0.9623 (R3) 0.9636
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9600 with Stop Loss 0.9696 and Take Profit 0.9416 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/CAD Wave Analysis for August 28,2012
AUD/CAD Elliott Wave
Last week the AUD/CAD pair finish the development of the corrective B wave at 1.0430 level and we could observe a strong downward move when developing the final C wave (coloured green) starts. Yesterday during the Asian and European sessions we could observe a descending movement from 1.0340 towards the 1.0280 level. Therefore, during the New York session the AUD/CAD pair continued trading in a bearish mood and the price reached new low at 1.0266 level. At the moment the price is trading around 1.0260 level and we are expecting to see it around 1.0200 today. 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 Retracement (0.9953-1.0595), with Take Profit at 1.0200 (61.8% of wave 1). To reduce the risk, we can use resistance at 1.0290 level as Stop Loss. Also it is necessary to monitor the CAD Corporate Profits q/q data that can change the rate of the pair.
Support and Resistance
(S3) 1.0220 (S2) 1.0248 (S1) 1.0266 (PP) 1.0294 (R1) 1.0322 (R2) 1.0340 (R3) 1.0368
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0250 with Stop Loss 1.0290 and Take Profit 1.0200 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CHF: Technical Analysis for August 29, 2012
Forecast:
•Strong level (Resistance) will be formed at 0.9760 providing a clear signal for sell deals with the target seen at the 0.9503 level. Stop loss is to be placed above 0.9680.•Strong level (Support) will be formed at 0.9500 / 0.9440 providing a clear signal for buy deals with the target seen at the 0.9703 level. Stop loss is to be placed below 0.9400.
Overview:USD/CHF:It is necessary to consider that the price is still located between points of 0.9633 and 0.9500, i.e. above the strong resistance level of 0.9760. The pair has already formed a strong resistance at this level of 0.9760 and is presently approaching it to the further testing. Therefore, the Swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below the 0.9760 level. Sell deals are recommended below 0.9760 with the first target seen at the 0.9575 level. Thus, the downtrend is likely to continue the bearish movement towards the 0.9503 level. Moreover, it is crucial that the price has probably formed a strong support at 0.9500 / 0.9440. The saturation is likely to take place around 0.9440. Therefore, it is possible that the market will start showing the signs of a bullish behavior. In other words, buy deals are recommended above 0.9500 / 0.9440 with the first target seen at the 0.9625 level and further at the 0.9703 level.
EUR/JPY Elliott Wave Analysis for August 29 - 2012
Today's Support and Resistance Levels:
S1: 98.46 R1: 99.01
S2: 98.21 R2: 99.18
S3: 97.98 R3: 99.59
Technical Overview:
Important support at 97.80 did hold for a break above 98.71 confirming that red wave 5 is building towards 99.59 and maybe even 100.60. In a short term we can expect support in the 98.25 - 98.35 area to protect the downside for a break above 99.18 towards the first target near 99.59.
Once this red wave 5 is in place, it will mark the end of black wave 3, which will be followed by a correction in black wave 4. Looking at black wave 2, we can clearly find a simple deep zigzag correction and, therefore, we should expect black wave 4 to be a shallow but complex correction. Whether black wave 4 begins from 99.59 or 100.60, we should expect a correction to just above 97.88.
Trading Recommendation:
You should be long from 95.85 with stop at 97.75. Consider taking profit at 99.50, which will leave you with a nice profit of 365 pips. If you are not long EUR already, you can buy EUR at 98.40 with the same stop and take profit levels.
Performed by Torben Melsted, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CHF Wave Analysis for August 29,2012
USD/CHF Elliott Wave
Yesterday the USD/CHF pair was trading in a downward move developing impulsive 5 wave (coloured purple) of the bigger wave 3 (coloured blue). During the European and New York sessions we could observe a descending movement from 0.9626 towards the 0.9547 level and we can consider this move as the end of the (1) wave (coloured black) of the bigger 5 wave (coloured purple). At the moment this major pair is developing corrective (2) wave (coloured blue) and we are expecting to see continuation of the bearish 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 (0.9798-0.9699-0.9767), with Take Profit at 0.9416 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 0.9635 level as Stop Loss. Also it is necessary to monitor the CHF KOF Economic Barometer and U.S. Prelim GDP q/q, Pending Home Sales m/m, Crude Oil Inventories, Beige Book data that can change the rate of the pair.
Support and Resistance
(S3) 0.9439 (S2) 0.9493 (S1) 0.9526 (PP) 0.9580 (R1) 0.9613 (R2) 0.9667 (R3) 0.9700
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9560 with Stop Loss 0.9635 and Take Profit 0.9416 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/USD Ready for 1.2000 - Weekly Wave Analysis
EUR/USD Elliott Wave
Since our last analysis the EUR/USD pair was trading in a downward move like we expected, but if we take another look, we will come to a conclusion that corrective 4 wave is not over, so, there is no much change in our wave count. Yesterday during the early Asian session this major pair found support at 1.2465 level and we could observe a strong ascending move towards the 1.2575 level (3 days high). At the moment the EUR/USD pair is developing final 5 wave (coloured blue) of the bigger (C) wave (coloured green) and we are expecting to see price around 1.2000 level when the development of the final (5) wave (coloured orange) starts. In accordance with our wave rules and taking into account that the wave 5 retraces 161.8% of the wave 1, we can define the potential targets by measuring wave 1, with Take Profit 1 at 1.9964 (138.2% of wave 1) and Take Profit 2 at 1.1884 (161.8% of wave 1) To reduce the risk, we can use resistance at 1.2700 as Stop Loss. Also it is necessary to monitor the U.S. Prelim GDP q/q, Pending Home Sales m/m, Crude Oil Inventories, Beige Book and EU German Prelim CPI m/m data that can change the rate of the pair.
Support and Resistance
(S3) 1.2383 (S2) 1.2424 (S1) 1.2494 (PP) 1.2535 (R1) 1.2605 (R2) 1.2646 (R3) 1.2716
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2520 with Stop Loss 1.2700, Take Profit 1 1.9964, and Take Profit 2 1.1884 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/NZD - Elliott Wave Analysis for August 30 - 2012
Today's Support and Resistance Levels:
S1: 1.5582 R1: 1.5672
S2: 1.5562 R2: 1.5708
S3: 1.5528 R3: 1.5744
Technical Overview:
It is most likely that we saw the top of maroon wave iii yesterday at 1.5708, which was slightly below the ideal target at 1.5708. We should now be looking for a minor correction down towards 1.5562 and maybe even 1.5528, but that is less likely. Once we have seen this correction, we should again turn our focus towards the upside for a rally near 1.5764, which should mark the top of maroon wave v and green wave iii.
Trading Recommendation:
As the trend is clearly up, we are looking for a buying opportunity and will buy EUR at 1.5565 with a 1.5465 stop.
USD/JPY Intraday Technical Levels for August 30, 2012
Today's Technical Levels:
Resistance 3: 79.07.
Resistance 2: 78.92.
Resistance 1: 78.76.
Support 1: 78.57.
Support 2: 78.42.
Support 3: 78.26.
Description:
Please, pay attention to the levels of support 3 (78.26) and resistance 3 (79.07). In general, when a level is 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 that these currencies have found trends today.
Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CHF Wave Analysis for August 30,2012
USD/CHF Elliott Wave
Since our last analysis the USD/CHF pair was trading in a downward move like we expected, developing impulsive (3) wave of the bigger (5) wave (coloured purple). Yesterday during the European and New York sessions we could observe a descending movement from 0.9635 towards the 0.9547 level and we can consider this move as confirmation of our count. At the moment this major pair is trading around 0.9565 level and we are expecting to see the price around 0.9455 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 (0.9660-0.9538-0.9634), with Take Profit at 0.9457 (161.8% of wave 1). To reduce the risk, we can use resistance point at 0.9595 level as Stop Loss. Also it is necessary to monitor the U.S. Unemployment Claims, Core PCE Price Index m/m and Personal Spending m/m data that can change the rate of the pair.
Support and Resistance
(S3) 0.9533 (S2) 0.9549 (S1) 0.9559 (PP) 0.9576 (R1) 0.9592 (R2) 0.9602 (R3) 0.9619
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9550 with Stop Loss 0.9595 and Take Profit 0.9457 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Weekly Wave Analysis
AUD/USD Elliott Wave
For the last 2 weeks the AUD/USD pair was trading in a strong downward move, developing corrective wave A (coloured green) of the bigger wave (E) (coloured orange). Yesterday during the early European session we could observe an ascending movement towards the 1.0397 level (new daily high). Therefore, at the beginning of the New York session this currency pair did not manage to hold this level and the price pushed lower reaching a 1.0347 level. At the moment the AUD/USD pair is trading around 1.0328 level and we are expecting to see the price around 0.9825 level in a few weeks. In accordance with our wave rules and taking into account that the wave E retraces 61.8% of the wave C, we can define the potential targets by measuring wave C, with Take Profit 1 at 0.9974 (50% of wave C) and Take Profit 2 at 0.9824 (61.8% of wave C) To reduce the risk, we can use resistance at 1.0410 as Stop Loss. Also it is necessary to monitor the U.S. Prelim GDP q/q, Pending Home Sales m/m, Crude Oil Inventories, Beige Book and EU German Prelim CPI m/m data that can change the rate of the pair.
Support and Resistance
(S3) 1.0283 (S2) 1.0315 (S1) 1.0332 (PP) 1.0364 (R1) 1.0381 (R2) 1.0413 (R3) 1.0430
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0315 with Stop Loss 1.0410, Take Profit 1 0.9974 and Take Profit 2 0.9824 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com