InstaForex Wave Analysis - page 103
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GBP/JPY Elliott wave count and Fibonacci levels for January 23, 2011
GBP/JPY is moving up within impulse wave C (colored red in the chart) from 117.49. Inside this wave we have three subwaves (colored orange red in the chart) with subwave C still developing from 119.13.
If the price breaks below 119.13, the whole wave from 117.49 will be Finished (wave C), and potential wave 4 will start from 119.87.
Now the targets below are Fibonacci retracements of 117.22-119.87, 117.49-119.87.
Supports:
- 118.96-86 = confluence area of .382 retracements
- 118.68 = .50 ret
- 118.55 = .50 ret
- 118.40 = .618 ret
- 118.23 = .618 ret
However if the uptrend resumes and the price breaks above 119.87, the immediate resistances will be Fibonacci expansions off 117.22-118.21-117.49, 117.49-119.72-119.13, 119.13-119.87-119.43, and retracements of 127.25-117.22, 122.71-117.22.
Resistances:
- 119.89 = contracted objective point (COP)
- 119.97 = .50 ret
- 120.08 = super expanded objective point (SXOP)
- 120.17 = objective point (OP)
- 120.51 = OP
- 120.61-63 = confluence area of .618 ret and expanded objective point (XOP)
Overbought/Oversold
The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (5-20 pips below the current prices). Watch for entries long at or near the indicated Fibonacci supports.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels for January 24, 2011
GBP/JPY is now developing potential corrective subwave 4 from 120.14 (colored red in the chart) that is part of impulse wave A of larger degree (colored light green in the chart) from 117.22.
The downwave has the following targets: Fibonacci retracements of 117.22-120.14, 117.49-120.14 (subwave 3).
Supports:
- 119.13 = .382 retracement
- 119.02 = .382 ret
- 118.82 = .50 ret
- 118.68 = .50 ret
- 118.50 = .618 ret
- 118.34 = .618 ret
However if the price breaks above 120.14 to continue subwave 5, we'll have the following resistances as targets: Fibonacci retracements of 127.25-117.22, 122.71-117.22.
Resistances:
- 120.61 = .618 ret
- 121.05 = .382 ret
- 121.54 = .786 ret
Overbought/Oversold
The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (10-20 pips below the current prices). Watch for entries long at or near the indicated Fibonacci supports.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels for January 24, 2011
AUD/USD stopped for a correction within impulse wave C of medium term uptrend (colored magenta in the chart) from 1.0354. Within this wave we have potencial corrective subwave 4 (colored red in the chart), that started from 1.0573.
Now the targets of the downmove are Fibonacci retracements of 1.0354-1.0573, 1.0370-1.0573.
Supports:
- 1.0471 = .50 retracement
- 1.0463 = .50 ret
- 1.0448 = .618 ret
- 1.0438 = .618 ret
But if the pair ends wave 4 and breaks above 1.0573 to continue the uptrend the immediate resistances will be Fibonacci expansions off A-B waves and subwaves: 1.0145-1.0377-1.0231, 1.0231-1.0449-1.0354, and 1.0354-1.0436-1.0370.
Resistances:
- 1.0585 = super expanded objective point (SXOP)
- 1.0606 = expanded objective point (XOP)
- 1.0707 = XOP
Overbought/Oversold
The larger wave is still going up, that's why it's prefereable to open longs when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (10-20 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/JPY Elliott Wave Count for January 24, 2012
Market Overview
This week has started in a sideways range for USD/JPY, trading at a price of only 20 pips from 77.07 to 76.86 and finishing New York session slightly above 50 EMA at 77.02. The Bank of Japan left overnight interest rates at 0.10%, as expected. Today at the opening of London session we saw the dollar-yen pair pushing higher above 77.23. We expect to see this major testing new resistance at 77.50.
Important News
(USD) Richmond Manufacturing Index
(JPY) BOJ Press Conference
(JPY) Trade Balance
Support and Resistance
(S3)76.76 (S2)76.85 (S1)76.90 (PP)76.98 (R1)77.07 (R2)77.12 (R3)77.20
Elliott Wave Analysis for USD/JPY
The USD/JPY pair finishes corrective wave ii between 50-61.8% of Fibo retrace of wave i and starts new 5 waves for iii wave.
According to our wave rules and assuming that wave iii has already started, we can project our target points with Fibonacci extension (76.53-77.30-76.86) to 161.8% of wave i at 78.10.
Trading Forecast
Based on Elliott Wave Rules we can expect the trend to go higher during the next few days. That is why we can come to a conclusion that we should open Long positions at 77.45 with Stop Loss at 77.15 and Take Profit at 78.10.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels for January 25, 2011
GBP/JPY strongly broke above 120.14 to continue wave 5 of medium term uptrend (colored red in the chart). The whole 5-wave cycle started from 117.22. Now the targets above are Fibonacci retracements of 127.25-117.22, and expansions off 117.49-120.14-119.58 (these are waves 3 and 4).
Resistances:
- 122.23-24 = confluence area of objective point (OP) and .50 retracement
- 123.42 = .618 ret
- 123.87 = expanded objective point (XOP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of the 5th wave from 119.58 - this wave is not developed, so no supports are available so far.
Overbought/Oversold
The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator gets below the zero level (10-20 pips below the current prices) or into the oversold area (30-40 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels for January 25, 2011
Below 1.0573 AUD/USD is developing corrective subwave B (colored magenta in the chart), that is part of impulse wave C of medium term uptrend (colored royal blue in the chart) from 1.0231. Wave C will continue if the price breaks above 1.0573, otherwise its end is at 1.0573.
As far as the corrective subwave is concerned, its targets below are Fibonacci retracements of 1.0231-1.0573.
Supports:
- 1.0442 = .382 retracement
- 1.0402 = .50 ret
- 1.0362 = .618 ret
But if the price keeps moving up and breaks above 1.0573, the targets above will be Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0573-1.0427, 1.0427-1.0494-1.0446.
Resistances:
- 1.0554 = expanded objective point (XOP)
- 1.0606 = XOP
- 1.0621 = super expanded objective point (SXOP)
- 1.0638 = contracted objective point (COP)
Overbought/Oversold
The larger wave is still going up, that's why it's prefereable to open longs when the Detrended Oscillator goes below the zero level (10-15 pips below the current prices) or into the oversold area (30-40 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
EUR/GBP Elliott Wave Count for January 25, 2012
Market Overview
Yesterday we saw this major pair pushing by 40 pips higher before this currency had found resistance at 0.8390 and started pushing by 80 pips lower to 0.8311, where EUR/GBP test 200 SMA Support but didn't have strength to continue pushing lower. Euro-pound finished New York session breaking 100 SMA at 0.8341. Today on the opening of the European session EUR/GBP has started moving higher, so we can expect continuation of an uptrend for the next few days.
Support and Resistance
(S3) 0.8269 (S2) 0.8299 (S1) 0.8318 (PP) 0.8348 (R1) 0.8378 (R2) 0.8397 (R3) 0.8427
Important News
(EUR) German Ifo Business Climate
(EUR) Italian Retail Sales m/m
(GBP) MPC Meeting Minutes
(GBP) Prelim GDP q/q
(GBP) BBA Mortgage Approvals
(GBP) Index of Services 3m/3m
(GBP) CBI Industrial Orders Expectations
(GBP) ECB President Draghi Speaks
(ALL) WEF Annual Meetings
Elliott Wave Analysis for EUR/GBP
EUR/GBP finishes B wave of the bigger c wave at 0.8311 and starts 5 waves up for final c wave. According to our wave rules and assuming that wave 3 will be 161.8 of wave 1, we can project our target points for the 3 Wave with our Fibonacci extension (0.8311-0.8351-0.8334) to 0.8401.
Trading Forecast
Based on Elliott Wave Rules we can expect the trend to go higher today. That is why we can come to a conclusion that we should open a LONG position at 0.8350 with Stop Loss at 0.8330 and Take Profit at 08401
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels for January 26, 2011
GBP/JPY has developed five waves of medium term uptrend (colored red in the chart). The whole 5-wave cycle started from 117.22 and may end at 121.98. However if the price breaks above 121.98, we'll have an extension - in this case a new A-B-C cycle will be moving from 119.58 (this is the base of wave 5). Now the targets above are Fibonacci retracements of 127.25-117.22, and expansions off 117.49-120.14-119.58 (these are waves 3 and 4), and 119.58-121.98-121.16.
Resistances:
- 122.23-24 = confluence area of objective point (OP) and .50 retracement
- 122.64 = contracted objective point (COP)
- 123.42 = .618 ret
- 123.56 = OP
- 123.87 = expanded objective point (XOP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 117.22-121.98, and expansions off 121.98-121.16-121.78.
Supports:
- 121.27 = COP
- 120.96 = OP
- 120.45 = XOP
- 120.16 = .382 ret
Overbought/Oversold
The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-201225
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels for January 26, 2011
Above 1.0573 AUD/USD is developing impulse subwave С (colored magenta in the chart) from 1.0427, that is part of impulse wave C of medium term uptrend (colored royal blue in the chart) from 1.0231. On smaller scale the former subwave has its own subwaves of smaller degree - these are A, B and C (colored orange red in the chart) with subwave C still developing from 1.0444.
The targets above as of now are Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0573-1.0427, 1.0427-1.0540-1.0444, 1.0444-1.0619-1.0588.
Resistances:
- 1.0638 = contracted objective point (COP)
- 1.0696 = COP
- 1.0740 = super expanded objective point (SXOP)
- 1.0763-69 = confluence area of two objective points (OP)
However if the price reverses to the downside to correct the uptrend the immediate supports will be Fibonacci retracements of the wave up from 1.0444 - this wave is not developed yet, so no supports are available so far.
Overbought/Oversold
The larger wave is still going up, that's why it's prefereable to open longs when the Detrended Oscillator goes below the zero level (25-35 pips below the current prices) or into the oversold area (50-60 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/JPY Elliott Wave Count for January 26, 2012
Market Overview
Yesterday the USD/JPY pair with great confidence reached the level of 65 pips and formed the new high at level 78.27. Further the USD/JPY pair started the descending movement from this resistance level. The news concerning the negative financial situation in the USA influenced the exchange rate of the pair. As a result the yen has strengthened against US dollar. This major currency tested for a several times 50EMA support level before it has been broken down and then continued the bearish movement. At the moment the price is testing the 100EMA support level. In case the level 77.50 is passed through it will be possible to consider the 200EMA the next support level located near the point 77.20.
Support and Resistance
(S3)77.15 (S2)77.43 (S1)77.59 (PP)77.87 (R1)78.15 (R2)78.31 (R3)78.59
Important News
(JPY) CSPI y/y
(USD) Core Durable Goods Orders m/m
(USD) Unemployment Claims
(USD) Durable Goods Orders m/m
(USD) New Home Sales
(USD) CB Leading Index m/m
(USD) Natural Gas Storage
Elliott Wave Analysis for USD/JPY
Today the USD/JPY pair finished the wave 3 (A, B, C) correction within the bigger wave 4 at level 77.52 and started the movement to the final wave 5. According to our wave rules and concerning that the wave 5 is equal to the wave 1 we can probably define the target levels proceeding from the amount of the pips that were passed. As the wave passed 77 pips we can determine our target by adding 77 pips to end of the wave 4 at level 77.52. In this case we can see the prospective wave 5 at level 78.29. For stop loss level we can use the end of the wave 1 at level 77.31.
Trading Forecast
Taking into account Elliott Wave Rules we can expect that today the trend will go upwards. Thus, it is recommended to open long positions at level 77.70 with Stop Loss at level 77.31 and Take Profit at level 78.29.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com