InstaForex Wave Analysis - page 137
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
EUR/JPY Wave Analysis for September 6, 2012
EUR/JPY Elliott Wave
For the last few weeks the EUR/JPY pair was trading in a sideways move (between 98.00 and 99.00 level), developing corrective (4) wave (coloured purple) of the bigger 3 wave (coloured blue). Yesterday during the Asian and European sessions we could observe a descending movement from 98.58 towards the 97.98 level and we can consider this move as the end of the (4) wave (coloured purple). Therefore, during the early New York session the EUR/JPY pair started pushing higher when the development of the (5) wave started. At the moment this currency is trading around 99.00 level and we are expecting to see the price around 100.200 soon. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with Fibonacci extension (94.13-97.81-95.71), with Take Profit at 100.29 (161.8% of wave 1). To reduce the risk, we can use support at 98.50 level as Stop Loss. Also it is necessary to monitor the EU French 10-y Bond Auction, German Factory Orders m/m, Minimum Bid Rate, ECB Press Conference , ECB President Draghi Speaks and JPY BOJ Gov Shirakawa Speaks data that can change the rate of the pair.
Support and Resistance
(S3) 97.62 (S2) 97.98 (S1) 98.20 (PP) 98.55 (R1) 98.91 (R2) 99.13 (R3) 99.48
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 99.05 with Stop Loss 98.50 and Take Profit at 100.29 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GOLD Intraday Technical Analysis
As gold is currently testing the lower limit of its channel, we suggest 2 scenarios: the first one is the hypothesis of a rebound where we recommend a buy at the level of 1,688 with the 1st objective at 1,699 and then at 1,705. A breakthrough of 1,685 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means selling gold as soon as it is broken through its support of 1,688 with the 1st objective at 1,678 and then at 1,675. A breakthrough of 1,691 will invalidate this scenario.
USD/CAD Wave Analysis for September 7, 2012
USD/CAD Elliott Wave
For the last few days the USD/CAD pair was trading in a sideways move developing triangle (4) wave (coloured orange) of the bigger 3 wave (coloured purple). Yesterday during the early European session we could observe a strong descending movement from 0.9913 towards 0.9872 level. Therefore, during the New York session, the USD/CAD pair continued trading in a bearish mood and the price reached 0.9807 level. Today during the Asian session we could observe one more downward move that brings this major to 0.9804 level and we can consider this move as the end of the (1) wave (coloured green) of the bigger (5) wave (coloured orange). In accordance with our wave rules and taking into account that the wave 2 should retrace 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (0.9917-0.9804), with Take Profit at 0.9874 (61.8% of wave 1). To reduce the risk, we can use the end of the (1) wave as Stop Loss. Also it is necessary to monitor the CAD Building Permits m/m,Employment Change, Unemployment Rate, Labor Productivity q/q, Ivey PMI, BOC Gov Carney Speaks and U.S. Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m data that can change the rate of the pair.
Support and Resistance
(S3) 0.9743 (S2) 0.9784 (S1) 0.9809 (PP) 0.9849 (R1) 0.9890 (R2) 0.9915 (R3) 0.9955
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9830 with Stop Loss 0.9804 and Take Profit at 0.9874 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GOLD Wave Analysis for September 7, 2012
GOLD Elliott Wave
Since our last analysis gold was trading in an upward move developing last 5 wave (coloured blue) of the bigger wave (3) (coloured green). Yesterday during the Asian and European sessions we could observe an ascending move from 1690.80 towards the 1712.70 level and we can consider this move as the end of the (3) wave (coloured green). Therefore, during the early New York session this commodity started pushing lower and the price reached 1696.45 level when the development of the corrective A wave (coloured blue) started. At the moment gold is trading around 1695.80 level and we are expecting to see the price around 1668.85 soon. In accordance with our wave rules and taking into account that the wave 4 should retrace 100% of the wave 2, we can define the potential targets with measuring 2 wave, with Take Profit at 1668.85 (100% of wave 2). To reduce the risk, we can use invalidation at 1714.10 as Stop Loss level. Also it is necessary to monitor the U.S. Non-Farm Employment Change, Unemployment Rate and Average Hourly Earnings m/m data that can change the rate of the pair.
Support and Resistance
(S3) 1669.3 (S2) 1681.5 (S1) 1692.5 (PP) 1704.7 (R1) 1715.7 (R2) 1727.9 (R3) 1738.9
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1693.60 with Stop Loss 1714.10 and Take Profit at 1668.85 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GOLD Intraday Technical Analysis
Gold bounced off to the lower limit of its medium term bullish channel and broke the intermediate resistance of this one leading to an acceleration. It tests now the upper limit of this channel at 1,744 suggesting a decline. However, a break of these levels will release good potential and initiate more violent bullish channel.
Technical indicators provide sell signals and evolve in overbuy zone supporting the assumption of a decline. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short-term. Furthermore, the spot rate evolves on the levels of the superior band strengthening the resistance.
As gold is currently testing the upper limit of its channel, we suggest 2 scenarios: the first one is the hypothesis of a decline where we recommend a sell at the level of 1,744 with the 1st objective at 1,732 and then at 1,730. A breakthrough of 1,747 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means buying the spot rate as soon as it is broken through its resistance of 1,744 with the 1st objective at 1,755 and then at 1,758. A breakthrough of 1,741 will invalidate this scenario.
EUR/NZD - Elliott Wave Analysis for September 10 - 2012
Today's Support and Resistance Levels:
S1: 1.5710 R1: 1.5778
S2: 1.5689 R2: 1.5814
S3: 1.5667 R3: 1.5874
Technical Overview:
We are still looking for a move closer to the ideal corrective target for green wave iv at 1.5667 from where we expect the next rally higher towards at least 1.5974 to end green wave v and blue wave iii. We are currently working on a series of waves four's and five's to end the impulsive rally from 1.4968. The ideal top for this impulsive rally is just above 1.6200.
In the larger picture the rally from 1.4968 is just the first rally in which we expect many impulsive rallies well above 1.6969 and even 1.9520, but we will have to take these rallies step by step as they occur interrupted by correction in between.
Trading Recommendation:
We are still looking to buy EUR against NZD at 1.5675 with a 1.5580 stop and take profit at 1.6185.
Performed by Torben Molsted, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CAD Wave Analysis for September 10, 2012
USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in a downward move, developing extended 5 wave (coloured blue) of the bigger wave (1) (coloured green). During the Friday's Asian session we could observe a descending movement from 0.0935 towards the 0.9804 level and we can consider this move as the end of the wave 1 of the bigger wave 5 (coloured blue). Therefore, during the early European session the USD/CAD pair did not manage to hold this level and the price retraced back to 0.9827 level (end of the 2 wave). At the moment price is trading around 0.9780 level and we are expecting to see it higher when developing the (2) wave (coloured green) starts. In accordance with our wave rules and taking into account that the wave 2 should retrace 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (0.9917-0.9755), with Take Profit at 0.9852 (61.8% of wave 1). To reduce the risk, we can use support 0.9750 as Stop Loss. Also it is necessary to monitor the U.S Consumer Credit m/m data that can change the rate of the pair.
Support and Resistance
(S3) 0.9725 (S2) 0.9752 (S1) 0.9768 (PP) 0.9794 (R1) 0.9821 (R2) 0.9837 (R3) 0.9863
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin its upward movement. That is why long positions at level 0.9775 with Stop Loss 0.9750 and Take Profit at 0.9852 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/JPY Wave Analysis for September 10, 2012
EUR/JPY Elliott Wave
Last week the EUR/JPY pair was trading in an upward move, developing impulsive 5 wave (coloured purple) of the bigger wave 3 (coloured blue). During the Friday's Asian and European sessions we could observe a strong ascending move from 99.60 towards 100.42 level and we can consider this move as the end of the impulsive 3 wave (coloured blue). Therefore, during the New York session when development of the 4 wave (coloured blue) starts we could observe the price pushing lower. Today the EUR/JPY pair was trading around 100.00 level and we are expecting to see the price around 99.30 soon. In accordance with our wave rules and taking into account that the wave 4 should retrace 100% of the wave 2, we can define the potential targets with measuring 2 wave, with Take Profit 1 at 99.12 (61.8% of wave 2) and Take Profit 2 at 98.32 (100% of wave 2). To reduce the risk, we can use resistance at 100.45 as Stop Loss. Also it is necessary to monitor the JPY Household Confidence, Economy Watchers Sentiment, BSI Manufacturing Index, M2 Money Stock y/y and EU French Industrial Production m/m, Sentix Investor Confidence data that can change the rate of the pair.
Support and Resistance
(S3) 99.25 (S2) 99.57 (S1) 99.77 (PP) 100.09 (R1) 100.41 (R2) 100.61 (R3) 100.93
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 99.95 with Stop Loss 100.45, Take Profit 1 at 99.12, and Take Profit 2 at 98.32 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GBP/USD Intraday Technical Analysis
As we expected yesterday, the spot rate made a pull back at the intermediate support of its medium term bullish channel at 1.5980 supporting a rebound. However, a break of these levels will free a large potential and reach the lower limit of its channel at 1.5900.
Technical indicators provide sell signals but approach an overbuy zone supporting the assumption of a return to its support in a short-term. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short-term.
As the spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios: the first one is the hypothesis of a rebound then we recommend a buy on the level of 1.5980 with the 1st objective at 1.6040 and then at 1.6060. A breakthrough of 1.5960 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means selling the spot rate as soon as it is broken through its support of 1.5980 with the 1st objective at 1.5920 and then at 1.5900. A breakthrough of 1.6000 will invalidate this scenario.
USD/CAD Wave Analysis for September 11, 2012
USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in a downward move, developing final (5) wave (coloured purple) of the bigger 5 wave (coloured blue). Yesterday during the Asian and European sessions we could observe the price trading in a sideways move between 0.9775 and 0.9789 level. Therefore, during the early New York session, the USD/CAD pair did not manage to hold this levels and price started pushing lower reaching a new daily low at 09755 level. At the moment, price is trading around 0.9755 level and we are expecting to see the price higher when 5 smaller wave of the bigger (5) wave (coloured purple) is over. 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 (0.9917-0.9720) with Take Profit at 0.9837 (61.8% of wave 1). Support at 0.9700 can be used as Stop Loss.
Support and Resistance
(S3) 0.9723 (S2) 0.9738 (S1) 0.9757 (PP) 0.9772 (R1) 0.9791 (R2) 0.9806 (R3) 0.9825
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9750 with Stop Loss 0.9700 and Take Profit 0.9837 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com