InstaForex Wave Analysis - page 139
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Technical Analysis for September 18, 2012
Weeky Pivot Point:
R3: 0.8673
R2: 0.8513
R1: 0.8401
PP: 0.8241
S1: 0.8129
S2: 0.7969
S3: 0.7857
Overview:
The NZD/USD pair is expected to continue the movement from the point of 0.8103. Thus, kiwi shows the signs of strength, following the breakdown of the highest level 0.8100. This fact can be considered as a good signal for BUY deals above this strong support (0.8103) with the first targets at 0.8390 and 0.8500 (it will serve as a strong resistance level and is considered to be appropriate for Take Profit orders). It is necessary to mention that this level will coincide with the weekly resistance 2 (0.8513). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8500, the market will show a further decline to the 0.8370 level indicating a bearish mood in order to retest the weekly pivot point at this level 0.8241.More analysis - atinstaforex.com
EUR/USD Wave Analysis for September 18,2012
EUR/USD Elliott Wave
Last week the EUR/USD pair was trading in an upward move, developing impulsive 3 wave (coloured green) of the bigger (5) wave (coloured orange). Yesterday during the Asian and European sessions, we could observe a descending movement towards the 1.3083 level. Therefore, during the early New York session, this major pair did not manage to hold this level and price reached a new daily high at 1.3171 level. We can consider this move as the end of the (3) wave (coloured green). At the moment the EUR/USD pair is testing 1.3080 support level and we are expecting to see the price around 1.3235 level soon. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring 1 wave, with Take Profit at 1.3234 (100% of wave 1) and Take Profit 2 at 1.3344 (161.8% of wave 1). To reduce the risk, we can use support at 1.3000 level as Stop Loss.
Support and Resistance
(S3) 1.3034 (S2) 1.3068 (S1) 1.3089 (PP) 1.3123 (R1) 1.3157 (R2) 1.3178 (R3) 1.3212
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.3100 with Stop Loss 1.300 , Take Profit at 1.3234 and Take Profit 2 at 1.3344 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Wave Analysis for September 18,2012
AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in a downward move like we expected, developing final (C) wave (coloured orange)of the bigger E wave (coloured purple).Yesterday during the Asian session, we could observe a descending movement from 1.0556 towards the 1.0515 level. Therefore, during the European and New York sessions, this major pair continued trading in a bearish mood and the price reached a new 2 days low at 1.0455 level. At the moment, the AUD/USD pair is still trading in a downward move and we are expecting to see the price around 0.9824 level in the next few weeks. In accordance with our wave rules and taking into account that the wave E should retrace 61.8% of the wave C, we can define the potential targets with measuring C wave, 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 invalidation at 1.0620 level as Stop Loss.
Support and Resistance
(S3) 1.0394 (S2) 1.0433 (S1) 1.0457 (PP) 1.0495 (R1) 1.0534 (R2) 1.0558 (R3) 1.0596
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0410 with Stop Loss 1.0620 ,Take Profit 1 at 0.9974 and Take Profit 2 at 0.9824 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 bearish channel at 102.90 and approach now the upper limit of this one at 103.80 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.
Technical indicators provide sell signals and evolve in overbuy zone supporting the assumption of a decline 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 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 103.80 with the 1st objective at 103.20 and then at 103.00. A breakthrough of 104.00 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 103.80 with the 1st objective at 104.40 and then at 104.60. A breakthrough of 103.60 will invalidate this scenario.
EurJpy Shorts Still Have Room Left
Technical Outlook and Chart Setups:
Finally, our shorts have materialized. We again present the 4H chart to study the waves more careful. As depicted above, we were at R1 yesterday, and the extension of the primary downswing could possibly bring the prices down towards the 100.00 mark. It should be noted that the short-term support line is travelling towards the same price region at the moment. A bounce there would resume rally again but a clear break would indicate further weakness ahead towards the 99.00 region and lower. Please note the lined up supports as well.
Trading Recommendations:
Remain short, move stop to break even, target at 100.10.
USD/CHF Wave Analysis for September 20,2012
USD/CHF Elliott Wave
For the last few days the USD/CHF pair was trading in a sideways move, developing corrective (4) wave (coloured green) of the bigger (A) wave (coloured orange). During yesterday’s Asian session we could observe a descending movement towards the 0.9257 level. Therefore, during the early European session this major pair did not manage to hold this level and price started pushing higher reaching a new daily high at 0.9306 level. During the New York session price retrace back to 0.9260 level before we could observe continuation of the European bullish mood. At the moment the USD/CHF pair is trading around 0.9335 level and we are expecting to see price around 0.9442 level 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 0.9442 (100% of wave 2). To reduce the risk, we can use invalidation at 0.9238 level as Stop Loss. Also it is necessary to monitor the U.S. Unemployment Claims, Flash Manufacturing PMI, FOMC Member Lockhart Speaks, Philly Fed Manufacturing Index data as it can change the rate of the pair.
Support and Resistance
(S3) 0.9231 (S2) 0.9249 (S1) 0.9261 (PP) 0.9280 (R1) 0.9298 (R2) 0.9310 (R3) 0.9329
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9340 with Stop Loss 0.9238 and Take Profit at 0.9442 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Wave Analysis for September 20,2012
AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in a downward move, as we expected, developing impulsive (3) wave (coloured green) of the bigger wave (C) (coloured orange). Yesterday during the European session, we could observe descending movement from 1.0473 towards the 1.0429 level. Therefore, during the early New York session the AUD/USD pair started pushing higher reaching a 1.0496 level� and we can consider this move as the end of the corrective (2) wave (coloured green). At the moment, this major pair is trading around 1.0400 level and we are expecting to see price around 1.0200 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 Extensions (1.0624-1.0409-1.0496), with Take Profit 1 at 1.0199 (161.8% of wave 1). To reduce the risk, we can use resistance at 1.0500 level as Stop Loss. Also it is necessary to monitor the U.S. Unemployment Claims, Flash Manufacturing PMI, FOMC Member Lockhart Speaks, Philly Fed Manufacturing Index data that can change the rate of the pair.
Support and Resistance
(S3) 1.0386 (S2) 1.0416 (S1) 1.0434 (PP) 1.0464 (R1) 1.0494 (R2) 1.0512 (R3) 1.0542
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0380 with Stop Loss 1.0500 and Take Profit at 1.0199 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/JPY Intraday Technical Levels for September 24, 2012
Resistance 3: 78.46.
Resistance 2: 78.32.
Resistance 1: 78.17.
Support 1: 77.98.
Support 2: 77.83.
Support 3: 77.67.
Description:
Please, pay attention to the levels of support 3 (77.67) and resistance 3 (78.46). 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.
More analysis - atinstaforex.com
AUD/CAD Wave Analysis for September 24,2012
AUD/CAD Elliott Wave
Since our last analysis, the AUD/CAD pair was trading in a upward move, developing corrective B wave (coloured blue) of the bigger wave (2) (coloured green). During the Friday's European session, we could observe an ascending move from 1.0188 towards the 1.0245 level and we can consider this move as the end of the B wave (coloured blue). Therefore, during the New York session, the AUD/CAD pair started pushing lower reaching 1.0193 level. At the moment, this currency pair is trading around 1.0200 level and we are expecting to see the price at 1.0130 today. In accordance with our wave rules and taking into account that the wave C should retrace 100% of the wave A, we can define the potential targets with Fibonacci Extensions (1.0268-1.0152-1.0245), with Take Profit at 1.0128 (100% of wave A). To reduce the risk, we can use resistance at 1.0245 level as Stop Loss. Also it is necessary to monitor the AUD RBA Financial Stability Review data that can change the rate of the pair.
Support and Resistance
(S3) 1.0143 (S2) 1.0169 (S1) 1.0185 (PP) 1.0212 (R1) 1.0238 (R2) 1.0254 (R3) 1.0281
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0180 with Stop Loss 1.0245 and Take Profit at 1.0128 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Wave Analysis for September 24,2012
AUD/USD Elliott Wave
Last week the AUD/USD pair was trading in a downward move, developing impulsive wave (1) (coloured green) of the bigger (C) wave (coloured orange). During the Friday's Asian and European sessions, we could observe ascending movement from 1.0427 towards the 1.0518 and we can consider this move as the end of the (2) corrective wave (coloured green). Therefore, during the early New York session, the AUD/USD pair did not manage to hold this level and the price retrace back to 1.0440 level when development of the (3) wave starts. Today this major pair continued trading in a bearish mood and we are expecting to see the price lower this week. 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 Extensions (1.0624-1.0367-1.0518), with Take Profit at 1.0152(161.8% of wave 1). To reduce the risk, we can use resistance at 1.0519 level as Stop Loss. Also it is necessary to monitor the U.S. FOMC Member Williams Speaks and AUD RBA Financial Stability Review data that can change the rate of the pair.
Support and Resistance
(S3) 1.0370 (S2) 1.0406 (S1) 1.0428 (PP) 1.0465 (R1) 1.0501 (R2) 1.0523 (R3) 1.0560
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0380 with Stop Loss 1.0519 and Take Profit at 1.0152 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com