InstaForex Wave Analysis - page 138
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AUD/USD Wave Analysis for September 11, 2012
AUD/USD Elliott Wave
Last week the AUD/USD pair was trading in a� upward move, developing corrective (B) wave (coloured green) of the bigger wave (E) (coloured orange). Yesterday during the European and New York session� we could observe a descending movement from 1.0385 towards the 1.0333 level. Therefore, during the second half of the NY session the AUD/USD pair tried to recover but after testing of 1.0368 resistance level, the price fell back to 1.0333 level. Today during the early Asian session we could observe the price around 1.0320 level and we can consider that move as the end of the corrective B wave (coloured blue) of the bigger (B) wave (coloured green). At the moment the AUD/USD pair is developing final C wave (coloured blue) and we are expecting to see the price around 1.0465 level soon. In accordance with our wave rules and taking into account that the wave C retraces 61.8% of the wave A, we can define the potential targets with Fibonacci extensions (1.0166-1.0399-1.0322) with Take Profit at 1.0466 (61.8% of wave A). Support at 1.0320 can be used as Stop Loss.
Support and Resistance
(S3) 1.0264 (S2) 1.0299 (S1) 1.0316 (PP) 1.0351 (R1) 1.0368 (R2) 1.0403 (R3) 1.0420
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0390 with Stop Loss 1.0320 and Take Profit 1.0466 are recommended
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/JPY Intraday Technical Analysis
The spot rate bounced off yesterday at the intermediate support of its medium term bullish channel at 99.70 and is currently testing the upper limit of its short term bearish channel at 100.40 suggesting a decline. However, a break of these levels will release a good potential and enable the upper limit of its medium term channel at 101.30.
Technical indicators provide buy signals but approach an overbuy zone supporting the assumption of a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. 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 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 100.40 with the 1st objective at 99.80 and then at 99.60. A breakthrough of 100.60 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 at 100.40 with the 1st objective at 101.00 and then at 101.30. A breakthrough of 100.20 will invalidate this scenario.
EUR/JPY - Elliott Wave Analysis for September 12 - 2012
Today's Support and Resistance Levels:
S1: 99.84 R1: 100.32
S2: 99.52 R2: 100.60
S3: 99.18 R3: 100.90
Technical Overview:
We saw the expected minor correction down to 99.52 yesterday and should now be ready for the last push higher towards the ideal target at 100.60. A test of 100.60 will likely mark the top of red wave 5 and black wave 3 and we should then be looking for black wave 4 down towards 98.40 and likely even 97.72 as black wave 4 corrects black wave 3 and sets us up for the last impulsive rally towards the 101.40 - 101.60 area.
In short-term we should expect support at 99.84 and again at 99.52.
Trading Recommendation:
We will sell EUR against JPY at 100.55 or at 99.45 (one order cancels the other) With a stop at 100.90 and take profit at 97.90.
Performed by Torben Molsted, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CAD Wave Analysis for September 12, 2012
USD/CAD Elliott Wave
For the last few days the USD/CAD pair was trading in a downward move, developing 5 wave (coloured blue) of the bigger (1) wave (coloured green). Yesterday, during the European and New York sessions, we could observe a strong descending move towards the 0.9713 level and we can consider this move as the end of the (1) wave (coloured green). Today, during the early Asian session, the USD/CAD pair started pushing higher and the price reached 0.9738 level. At the moment this major pair is developing impulsive (3) wave (coloured purple) of the bigger wave A (coloured blue) 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 261.8% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9713-0.9735-0.9714) with Take Profit at 0.9773 (261.8% of wave 1). Invalidation Point at 0.9714 can be used as Stop Loss.
Support and Resistance
(S3) 0.9640 (S2) 0.9677 (S1) 0.9704 (PP) 0.9741 (R1) 0.9768 (R2) 0.9805 (R3) 0.9832
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9740 with Stop Loss 0.9714 and Take Profit 0.9773 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Weekly Wave Analysis 2012-09-12
AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in an upward move just as we expected, developing final corrective (C) wave (coloured blue) of the bigger wave (B) (coloured green). During the Asian and European sessions we could observe an ascending movement from 1.0320 towards the 1.0382 (new daily high) level. Therefore, during the New York session, the AUD/USD pair continued trading in a bullish mood and the price reached 1.0448 level. At the moment we can observe the end of the (B) wave (coloured green) and we are expecting to see the price lower for the next few days when the development of (C) wave (coloured green) starts. In accordance with our wave rules and taking into account that the wave C retraces 161.8% of the wave A, we can define the potential targets with Fibonacci extensions (1.0612-1.0166-1.0510) with Take Profit at 0.9807 (100% of wave A). Resistance at 1.0600 can be used as Stop Loss.
Support and Resistance
(S3) 1.0228 (S2) 1.0276 (S1) 1.0354 (PP) 1.0402 (R1) 1.0480 (R2) 1.0528 (R3) 1.0606
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at the level of 1.0450 with Stop Loss at 1.0600 and Take Profit at 0.9807 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/USD Intraday Technical Analysis
The spot rate has been testing since yesterday the intermediate resistance of its medium-term bullish channel at 1.2930 suggesting a decline. However, a break of this level will release a good potential and enable the upper limit of its channel at 1.2990.
Technical indicators provide sell signals and approach overbuy zone. Moreover, until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. Furthermore, the superior band strengthens the intermediate resistance supporting the assumption of a violent movement in case of failure.
As the spot rate is currently testing the intermediate resistance 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 1.2930 with the 1st objective at 1.2870 and then at 1.2850. A breakthrough of 1.2950 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 1.2930 with the 1st objective at 1.2990 and then at 1.3010. A breakthrough of 1.2910 will invalidate this scenario.
USD/CAD Wave Analysis for September 13, 2012
USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in a upward move, developing impulsive (3) wave (coloured purple) of the bigger A wave (coloured blue). Yesterday, during the Asian and European sessions, we could observe an ascending movement from 0.9714 towards the 0.9744 level. Therefore, during the New York session, this major pair continued trading in a bullish mood and the price reached 0.9768 level (new daily high). At the moment, the USD/CAD pair is developing final (5) wave (coloured purple) and we are expecting to see the price around 0.9750 level today. In accordance with our wave rules and taking into account that the wave B retraces 61.8% of the wave A, we can define the potential targets with Fibonacci retracements (0.9713-0.9790) with Take Profit at 0.9745 (61.8% of wave A). Resistance Point at 0.9800 can be used as Stop Loss.
Support and Resistance
(S3) 0.9695 (S2) 0.9715 (S1) 0.9727 (PP) 0.9748 (R1) 0.9768 (R2) 0.9780 (R3) 0.9801
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9790 with Stop Loss 0.9800 and Take Profit 0.9745 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Wave Analysis for September 13, 2012
AUD/USD Elliott Wave
Yesterday, the AUD/USD pair was trading upward move, developing final C wave (coloured blue) of the bigger wave (B) (coloured green). During the European session, we could observe a strong ascending movement towards the 1.0504 level and we can consider this move as the end of the (B) wave. Therefore, during the early New York session, the AUD/USD pair did not manage to hold this level and the price started pushing lower when the development of the final (C) wave started. At the moment, this pair was trading around 1.0450 level and we are expecting to see the price lower 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 (1.0504-1.0440-1.0487) with Take Profit at 1.0383 (161.8% of wave 1). Resistance Point at 1.0470 can be used as Stop Loss.
Support and Resistance
(S3) 1.0387 (S2) 1.0417 (S1) 1.0436 (PP) 1.0466 (R1) 1.0496 (R2) 1.0515 (R3) 1.0545
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0440 with Stop Loss 1.0370 and Take Profit 1.0383 are recommended.ke Profit at 0.9807 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/JPY Intraday Technical Analysis
The spot rate broke yesterday the intermediate resistance of its medium term bullish channel at 100.90 leading to an acceleration. A pull back to these levels is expected before reaching the upper limit of its channel at 101.50.
Technical indicators provide buy signals but approach overbuy zone supporting the assumption of a pull back in a short-term. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. Furthermore, the spot rate broke the superior band supporting the hypothesis of a violent movement.
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 where we recommend a buy at the level of 100.90 with the 1st objective at 101.50 and then at 101.70. A breakthrough of 100.70 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 100.90 with the 1st objective at 100.20 and then at 100.00. A breakthrough of 101.10 will invalidate this scenario.
EUR/NZD - Elliott Wave Analysis for September 17 - 2012
Today's Support and Resistance Levels:
S1: 1.5791 R1: 159.02
S2: 1.5705 R2: 1.5974
S3: 1.5592 R3: 1.6053
Technical Overview:
The base channel support line held on Friday and the break above 1.5802 indicates that wave 2 ended at 1.5578 and we should now look for the powerful wave 3 higher. The first target for wave 3 will where it equals wave 1 in length, which will be at 1.6513, but we will normally expect wave 3 to be the wave, that extends and therefore we would not be surprised to see wave 3 higher towards 170.91.
Even though we expect wave 2 to have finished at 1.5578 it could still turn into a more complex correction, if we do not break above 1.5902, but the odds for wave 2 to turn into a more complex correction is very low, so we will focus on the upside and a break above 1.5902 soon.
Trading Recommendation:
We bought EUR against JPY at 1.5805 and will place our stop at 1.5575. As soon as we get a chance to move our stop higher we will do that. If you have not bought EUR already you could buy a break above 1.5902 with the same stop.