InstaForex Wave Analysis - page 112
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USD/CAD Elliott wave count for March 23, 2012
Market Overview
Yesterday the USD/CAD pair was trading within the upward trend. During the European session the major started ascending movement to the 0.9960 level. Therefore, during the New York session we could observe the strong bullish mood; the price has reached the new daily high at 1.0007 level.The USD/CAD pair did not manage to hold this level and at the end of the New York session we could observe the pricere bound to the 0.9985 level. Today during the Asian session we could observe an upward move to the yesterday's high where this pair find resistance and has started to decline. Today the USD/CAD pair is expected to test 50EMA support before we can see price above 1.0000 again. Also it is necessary to consider the data concerning the CAD Core CPI m/m, CPI m/m and USD New Home Sales that can affect the rate of the pair.
Support and Resistance levels
(S3) 0.9871 (S2) 0.9908 (S1) 0.9931 (PP) 0.9968 (R1) 1.0005 (R2) 1.0028 (R3) 1.0065
USD/CAD Elliott Wave Analysis
The USD/CAD pair has finished 1 wave (colored pink) of the bigger C wave (colored blue) in the point 0.9968, and 2 wave (colored pink) in the point 0.9873. Presently we can observe end of wave 3 wave (colored pink). Proceeding from our wave rules and considering that the wave 3 will retrace 161.8% of 1 wave, we can define the potential targets with the help of Fibonacci extension (0.9859-0.9968-0.9873) with Take Profit at level 1.0049 (161.8% of the wave 1. For Stop Loss we can use 0.9960 support level.
Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin an upward movement. That is why long positions at levels 0.9980 with Stop Loss at 0.9960 and Take Profit 1.0049 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels for March 26, 2011
The AUD/USD is developing the potential corrective wave B of the medium term uptrend (coral in the chart) from 1.0856. Within this wave there are subwaves A, B and C (royal blue in the chart). An impulse subwave C is developing from 1.0636. The latter comprses subwaves A and B (red in the chart), subwave B is developing from 1.0336. Within B there are three waves (orange red in the chart), with subwave C still developing from 1.0371.
The upside targets are Fibonacci retracements 1.0636-1.0336 and expansions 1.0336-1.0449-1.0371.
Resistances:
- 1.0484-86 = confluence area of objective point (OP) and .50 retracement
- 1.0521 = .618 ret
- 1.0554 = expanded objective point (XOP)
If the price reverses to the downside, the immediate supports will be Fibonacci retracements 0.9861-1.0856 expansions 1.0856-1.0423-1.0636, 1.0636-1.0336-1.0491.
Supports:
- 1.0306 = contracted objective point (COP)
- 1.0241 = .618 retracement
- 1.0203 = OP
- 1.0191 = OP
Overbought/Oversold
The larger wave is now moving downside, so it is better to go short when the Detrended Oscillator goes above the zero level (5-10 pips above the current prices) or into the overbought area (25-35 pips above the current prices). Consider the possibilities to go short at or near the indicated resistances.
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 March 26, 2011
The GBP/JPY pair is developing the corrective wave B of the medium term uptrend from 133.42 (royal blue in the chart). Within this wave we have two subwaves (red in the chart) and a corrective subwave B developing from 129.94.
The targets below are Fibonacci retracements 126.48-133.42.
Supports:
- 129.95 = .50 retracement
- 129.13 = .618 ret
The upside targets are Fibonacci expansions 126.48-133.42-129.94 and retracements 133.42-129.94.
Resistances:
- 131.27 = .382 ret
- 131.68 = .50 ret
- 132.09 = .618 ret
- 134.23 = contracted objective point (COP)
Overbought/Oversold
The bigger wave is now moving downwards, so it is recommended to try short positions when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (25-40 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CAD Elliott wave count for March 26, 2012
Market Overview
On Friday during the European session the USD/CAD pair was trading within the upward movement and reached the resistance level 1.0030. During the New York session the USD/CAD pair retested this resistance level twice, having failed to hold it. Thus, the price pushed down to 0.9975 level.Today during the Asian session we could observe the bullish mood; the price reached the 0.9990 level. Today the USD/CAD pair is expected to test 0.9950 level. Also it is necessary to consider the data concerning the USD Fed Chairman Bernanke Speaks, Pending Home Sales m/m and CAD BOC Gov Carney Speaks that can affect the rate of the pair.
Support and Resistance levels
(S3) 0.9929 (S2) 0.9953 (S1) 0.9968 (PP) 0.9993 (R1) 1.0017 (R2) 1.0032 (R3) 1.0057
USD/CAD Elliott Wave Analysis
The USD/CAD pair has finished the wave A (colored blue) of the bigger wave B (colored green) in the point 0.9964. Presently we can observe the end of the wave B (colored blue). In accordance with our wave rules and taking into account that the wave B retraces at least 50% of the wave A, we can define the potential targets with the help of Fibonacci retracement (0.9841-1.0033) with First Take Profit at 0.9937 (50% of wave A) and Second Take Profit at 0.9915 (61.8% of wave A). For Stop Loss we can use the 1.0033 invalidation level.
Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the downward movement. That is why Short position at levels 1.0000 with Stop Loss at 1.0033, Take Profit at 0.9937 and Take Profit 2 at 0.9915 are recommended.
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 March 27, 2011
The GBP/JPY pair is developing the corrective wave B of the medium term uptrend from 133.42 (royal blue in the chart) comprisisng two subwaves (red in the chart) and a corrective subwave B developing from 129.94. Within this wave we have four subwaves (yellow in the chart) and subwave 4 having started recently from 132.46.
Now the downside targets are Fibonacci retracements 126.48-133.42, 129.94-132.46 and expansions 133.42-129.94-132.46.
Supports:
- 131.50 = .382 retracement
- 131.20 = .50 ret
- 130.90 = .618 ret
- 130.31 = contracted objective point (COP)
- 129.95 = .50 ret
- 129.13-128.98 = confluence area of .618 ret and objective point (OP)
The upside targets are Fibonacci expansions 126.48-133.42-129.94, 129.94-131.31-130.68.
Resistances:
- 132.90 = expanded objective point (XOP)
- 134.23-27 = confluence area of COP and super expanded objective point (SXOP)
Overbought/Oversold
The bigger wave is now moving downwards, so it is better to try short positions when the Detrended Oscillator goes above the zero level (5-10 pips above the current prices) or into the overbought area (25-40 pips above the current prices). Consider the opportunities to go short at or near the indicated resistances
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 March 27, 2011
The AUD/USD pair is developing the potential corrective wave B of the medium term uptrend (coral in the chart) from 1.0856. Within this wave there subwaves A, B and C (royal blue in the chart). An impulse subwave C is developing from 1.0636 including the subwaves A and B (magenta in the chart); the subwave B is developing from 1.0336. However, due to exessive advance within corrective subwave B (magenta), wave C (royal blue) from 1.0636 may be completed. Within the wave B (magenta) there are four subwaves (orange red in the chart), with subwave 4 still developing from 1.0545.
The upside targets are Fibonacci retracements1.0856-1.0336 and expansions1.0336-1.0449-1.0371.
Resistances:
- 1.0554 = expanded objective point (XOP)
- 1.0596 = .50 retracement
- 1.0657 = .618 ret
- 1.0667 = super expanded objective point (SXOP)
If the price reverses to the downside, the immediate supports will be Fibonacci retracements 0.9861-1.0856, 1.0336-1.0545 and expansions 1.0856-1.0423-1.0636, 1.0636-1.0336-1.0545.
Supports:
- 1.0465 = .382 ret
- 1.0440 = .50 ret
- 1.0416 = .618 ret
- 1.0360 = contracted objective point (COP)
- 1.0245-41 = confluence area of objective point (OP) and .618 ret
Overbought/Oversold
The larger wave is now moving down, so it is better to go short when the Detrended Oscillator goes above the zero level (5-10 pips above the current prices) or into the overbought area (30-40 pips above the current prices). Mind the possibilities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CAD Elliott wave count for March 27, 2012
Market Overview
Yesterday the USD/CAD pair was trading within the downward trend. During the European session the major started descending movement to the 0.9960 level (100 EMA Support). Therefore, during the New York session we could observe the continuation of the bearish mood; the price has reached the daily low at 0.9905. Today during the Asian session we could observe sideways movement of the pair. Today the USD/CAD pair is expected to test 0.9880 level before going higher than 1.0000. Also it is necessary to consider the data concerning the USD S&P/CS Composite-20 HPI y/y,CB Consumer Confidence and Fed Chairman Bernanke Speaks that can affect the rate of the pair.
Support and Resistance levels
(S3) 0.9846 (S2) 0.9881 (S1) 0.9903 (PP) 0.9938 (R1) 0.9973 (R2) 0.9995 (R3) 1.0030
USD/CAD Elliott Wave Analysis
The USD/CAD has finished A wave (colored blue) of the bigger B wave (colored green) in the point 0.9964 and B wave (colored blue) in the point 0.9998. Presently we can observe the end of C wave. Proceeding from our wave rules and considering that the wave B will retrace 78.6% of wave A, we can define the potential targets with the help of Fibonacci retracement (0.9841-1.0033) with Take Profit at 0.9882 (78.6% of wave A). For Stop Loss we can use the 0.9930 resistance level.
Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin an Downward movement. That is why short positions at levels 0.9905 with Stop Loss at 0.9930 and Take Profit 0.9882 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CAD Elliott wave count for March 28, 2012
Market Overview
Yesterday the USD/CAD pair was trading within the upward trend. During the European session the major started to ascend towards 0.9930. Therefore, during the New York session we were able to observe continuation of the bullish mood; the price reached the new daily high at 0.9955 at the end of session. Today during the Asian session we could observe continuation of upward trend and price reached the 0.9975 level. Today the USD/CAD pair is expected to test the 0.9900 level. Also it is necessary to consider the data concerning the USD Core Durable Goods Orders m/m, Durable Goods Orders m/m and Crude Oil Inventories that can affect the rate of the pair.
Support and Resistance levels
(S3) 0.9881 (S2) 0.9902 (S1) 0.9915 (PP) 0.9936 (R1) 0.9957 (R2) 0.9970 (R3) 0.9991
USD/CAD Elliott Wave Analysis
The USD/CAD pair has finished A wave (coloured blue) of the bigger (C) wave (coloured green) in the point 0.9976. Presently we can observe start of B wave (coloured blue). In accordance with our wave rules and taking into account that the wave B should retrace from 50 - 61.8% of wave A, we can define the potential targets with the Fibonacci retracement (0.9899-0.9976); the First Take Profit at 0.9937 (50% of wave A) and Second Take Profit at 0.9928 (61.8% of wave A). For Stop Loss we can use the 1.0000 resistance level.
Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the downward movement. That is why Short position at levels 0.9960 with Stop Loss at 1.0000, Take Profit at 0.9937 and Take Profit 2 at 0.9928 are recommended.
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 March 28, 2011
GBP/JPY is developing corrective wave B of medium term uptrend from 133.42 (royal blue in the chart). Within this wave we have three subwaves (red in the chart), and potential impulse subwave C is developing from 133.32.
Now the targets below are Fibonacci retracements of 126.48-133.42, 129.94-133.32, and expansions off 133.42-129.94-133.32.
Supports:
- 131.63 = .50 retracement
- 131.23-17 = confluence area of .618 ret and contracted objective point (COP)
- 129.95 = .50 ret
- 129.84 = objective point (OP)
- 129.13 = .618 ret
The targets above are Fibonacci expansions off 126.48-133.42-129.94.
Resistances:
- 134.23 = COP
Overbought/Oversold
The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator goes above the zero level (55-60 pips above the current prices) or into the overbought area (90-110 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.
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 March 28, 2011
AUD/USD is developing potential corrective wave B of medium term uptrend (coral in the chart) from 1.0856. Within this wave there are subwaves A, B and C (royal blue in the chart). Impulse subwave C is developing from 1.0636. Within the latter we have subwaves A, and B (magenta in the chart), subwave B is developing from 1.0336. However, due to exessive advance within corrective subwave B (magenta), wave C (royal blue) from 1.0636 may be coming to an end. Within B (magenta) there are two subwaves (red in the chart), with subwave B still developing from 1.0557.
The targets above are Fibonacci retracements of 1.0856-1.0336.
Resistances:
- 1.0596 = .50 retracement
- 1.0657 = .618 ret
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 0.9861-1.0856, 1.0336-1.0557, and expansions off 1.0856-1.0423-1.0636, 1.0636-1.0336-1.0557.
Supports:
- 1.0420 = .618 ret
- 1.0372-68 = confluence area of two contracted objective points (COP)
- 1.0257 = objective point (OP)
- 1.0241 = .618 ret
Overbought/Oversold
The larger wave is now moving down, so it's prefereable to go short when the Detrended Oscillator goes above the zero level (10-15 pips above the current prices) or into the overbought area (40-55 pips above the current prices), watch for possibilities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com