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What are Fibonacci levels?
In this article we will discuss about a widespread, well-known key element of technical analysis. Why do you think technical analysis especially some elements work so well for financial markets? Why do you think Fibonacci levels are usually strictly followed? Because thousands and billions of traders and computer programs for trading use these elements. This way everybody acts the same at the same time…
This is why we decided to present in the category of technical analysis, the most used and well-known methods of predicting financial evolution. These methods are easy to understand and are very efficient.
We will discuss about Fibonacci levels. We will find out what Fibonacci levels are and how they are calculated. We will use them in our charts and we will see how they act. We will discover how useful Fibonacci levels are and, at the end, we will draw the conclusions. We will use Fibonacci levels daily in our analyzing and trading system.
Read full article at http://bit.ly/fsL82U
Fundamental Analysis, November, 17 / 2011
Mildly, the U.S. economy encouraging indicators resubmitted, although forecasts of a future recession in 2012 will remain firm. There is that President Obama expressed concern about the European future, as the old continent will need to succeed to avoid, in part, to trigger a new crisis in his country.
Anyway, as a sign of changing moods prevailing in global markets today, suffice to say that the dollar has completely mixed behavior in relation to currencies, commodities and stocks.
Just in time for New York Stock Exchange is a certain coordination between actions and coins, old-fashioned. Beyond that, it is remarkable to see how, while oil away from the $ 100 a barrel, the Canadian dollar does not grow, and is defeated by the U.S. dollar.
The Swiss franc, for instance, also away from parity imposed by the SNB of 1.20 against the euro, and is close to 1.25, which is the new floor of which was discussed a month ago. And the yen continues its erratic behavior, subject to interventions with a show of strength, but still subject to his demand after the interventions.
Gold, another concerning the mood of the market for the $ 1800 again, although it moves away from that level in European morning Thursday. And the British pound finally seems to regain some of its lost ground in recent days, with a positive step for October retail sales.
During the U.S. session on Thursday will know the usual requests for unemployment insurance and building permits (key data), at 8:30 Eastern. Later, at 10:00, will be the turn of the index of the Philadelphia Fed, and this is the agenda of macro data of the day.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels - November 18, 2011
GBP/JPY is developing wave A (colored light green in the chart) of medium term downtrend from 127.25. Within this wave there are three subwaves (colored royal blue in the chart), and impulse subwave С is still developing from 125.63. Within the latter there are also three subwaves (colored magenta in the chart) with impulse subwave C developing from 124.22. The targets below are Fibonacci retracements of 116.91-127.25, and expansions off 127.25-123.85-125.63, 125.63-122.90-124.22, 124.22-122.26-123.09, 123.09-120.82-121.64.
Supports:
- 120.78 = .618 retracement
- 120.24 = contracted objective point (COP)
- 120.13 = expanded objective point (XOP)
- 119.92-80 = confluence area of two XOP's
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 124.22-120.82.
Resistances:
- 122.12 = .382 ret
- 122.52 = .50 ret
- 122.92 = .618 ret
Overbought/Oversold
Assuming that the major wave is now down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (10-20 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels - November 18, 2011
AUD/USD is developing wave A of medium term downtrend (colored light green in the chart). Within this wave there are three subwaves (colored royal blue in the chart) with impulse subwave C still developing from 1.0343. Within the latter wave C there are also waves A, B and C (colored red in the chart) with subwave C still developing from 1.0183. The tragets of the downmove are Fibonacci retracements of 0.9387-1.0752, and expansions off 1.0752-1.0051-1.0343, 1.0343-1.0060-1.0183, 1.0183-1.0021-1.0117.
Supports:
- 0.9955 = objective point (OP)
- 0.9910-08 = confluence area of contracted objective point (COP) and .618 ret
- 0.9900 = objective point (OP)
- 0.9855 = expanded objective point (XOP)
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 1.0343-0.9973.
Resistances:
- 1.0114 = .382 retracement
- 1.0158 = .50 ret
- 1.0202 = .618 ret
Overbought/Oversold
Assuming that the larger wave is now moving down it's preferable to try short positions when the Detrended Oscillator goes above the zero level (current prices) or gets into the overbought area (5-20 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
Fundamental Analysis, November, 18 / 2011
European shares operating profit of 1.5% on average.
These movements are giving impetus to the euro, which had begun the session with a retreat on all fronts. In turn, the British pound positions recovers quickly.
The most important note of the day gives the record of Spain country risk since the creation of the euro, which surpassed 700 points on Thursday, and that puts the level of Greece, Portugal and Ireland, and in a dangerous area about their ability to pay debt.
Indeed, in this area seems to have a high speculative component, adding to credit to several European countries, using the wrong time living Italy and Greece, among others. There is also question the solvency of the second European power, France, the country risk exceeded 200 points, a figure that would be coveted in emerging countries, and that the French is a scandal.
In another, fell strong oil prices, both Brent below $ 110, including WTI, who lost the mark of $ 100.
The Canadian dollar extended a fall of 4 days, like oil (the main export of the country), was launched yesterday. The sweet crude oil futures for December delivery fell to $ 101.76 a barrel at $ 98.82. At the same time, the depreciation of the currency is fueled by expectations that the reports can now add to the evidence of Canada's economy is cooling. According to preliminary estimates, inflation in Canada fell in October to 2.7% from 3.2% in annual figures.
As for gold, recover positions in these hours of searching the area of �‹�‹$ 1,700 per ounce, and takes a long-term uptrend that could have its peak around June 2012.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/JPY Buy Long 104,47 November 18, 2011 (Daily Strategy)
EUR/JPY
The Euro - Japanese yen pair has formed a bottom around 103.40. this level is strong support because in 4 hours charts, thirteen times and tried to drill this level has been unsuccessful. Given that the euro is now showing signs of recovery, we can enter a buy order in the future, only if the pair manages to break his line so sharp downtrend and closed above 1.0445. With a medium-term goal to the last resistance of 1.0789, the range indicator shows oversold upward bounce is imminent. On the other hand, we will place stop loss just below the 103.40 level test. yen per euro.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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USD/JPY Wave analysis for November 18, 2011
Wave chart analysis:
Yesterday’s USD/JPY trading did not bring any considerable changes into the formed wave situation, and the price continued with horizontal movement along the 77 figure level.
Therefore we have received an evidence of our assumption that the inner wave structure of the 4th wave obtained the shape of a horizontal triangle.
At the same time such wave structure looks almost complete at the moment. However, given the formation process of the previous horizontal trend we cannot eliminate the possibility of the whole 4th wave to become even more complicated and continuous.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels - November 21, 2011
AUD/USD is developing wave A of medium term downtrend (colored light green in the chart). Within this wave there are three subwaves (colored royal blue in the chart) with impulse subwave C still developing from 1.0343. Within the latter wave C there are also waves A, B and C (colored magenta in the chart) with subwave C still developing from 1.0106. The tragets of the downmove are Fibonacci retracements of 0.9387-1.0752, and expansions off 1.0752-1.0051-1.0343, 1.0343-0.9964-1.0106.
Supports:
- 0.9910-08 = confluence area of contracted objective point (COP) and .618 ret
- 0.9872 = COP
- 0.9727 = objective point (OP)
- 0.9642 = OP
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of the wave down from 1.0343 - this wave is not developed so no resistances are available so far.
Overbought/Oversold
Assuming that the larger wave is now moving down it's preferable to try short positions when the Detrended Oscillator goes above the zero level (5-10 pips above the current prices) or gets into the overbought area (40-55 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
EUR/USD Intraday Technical Level For November 21st / 2011
TODAY TECHNICAL LEVEL :
Breakout BUY Level : 1.3585.
Strong Resistance : 1.3577.
Original Resistance : 1.3564.
Inner Sell Area : 1.3551.
Target Inner Area : 1.3519.
Inner Buy Area : 1.3487.
Original Support : 1.3474.
Strong Support : 1.3461.
Breakout SELL Level : 1.3453.
DESCRIPTION :
Today EUR/USD has support and resistance at 1.3474 and 1.3564 is accompanied by a strong support at 1.3461 and 1.3577 for the strong resistance; If today the EUR/USD can break out and close below the 1.3453 level then this indicates considerable Bearish strength, while if the EUR/USD today can break out and close above the 1.3585 level then this indicates considerable Bullish strength. Alternatively you can trade in a way to open BUY position at the level of 1.3487 and 1.3551 for SELL position in which case both targets are located at the 1.3519 level.
Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
GBP/USD. Weekly and Monthly Pivot Points, For 21 - 25 / November, 2011
We have two graphs, one weekly and one monthly. The strategy we should do is buy the supports S1, (we must be cautious because if the market is bearish try to fall, until weekly support S2) S2, (at this level there is greater probability that the price rebound, at least to the weekly S1.) S3 (severe long-term strategy with the objective of take profit, to the weekly pivot point.) on the other side. The same applies when a market is bullish expect the levels of R1, R2, R3 to sell and take advantage of the price correction.
_____WEEKLY____
Weekly - R3 = 1.6437
Weekly - R2 = 1.6264
Weekly - R1 = 1.6035
Weekly Pivot = 1.5852
Weekly - S1 = 1.5633
Weekly - S2 = 1.5460
Weekly - S3 = 1.5231
_____MONTHLY____
Monthly - R3 = 1.7304
Monthly - R2 = 1.6735
Monthly - R1 = 1.6410
Monthly Pivot = 1.5841
Monthly - S1 = 1.5516
Monthly - S2 = 1.4947
Monthly - S3 = 1.4622
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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USD/CAD. Weekly and Monthly Pivot Points, For 21 - 25 / November, 2011
We have two graphs, one weekly and one monthly. The strategy we should do is buy the supports S1, (we must be cautious because if the market is bearish try to fall, until weekly support S2) S2, (at this level there is greater probability that the price rebound, at least to the weekly S1.) S3 (severe long-term strategy with the objective of take profit, to the weekly pivot point.) on the other side. The same applies when a market is bullish expect the levels of R1, R2, R3 to sell and take advantage of the price correction.
____WEEKLY_____
Weekly - R3 = 1.0579
Weekly - R2 = 1.0440
Weekly - R1 = 1.0358
Weekly Pivot = 1.0219
Weekly - S1 = 1.0137
Weekly - S2 = 0.9998
Weekly - S3 = 0.9916
____MONTHLY______
Monthly - R3 = 1.1243
Monthly - R2 = 1.0949
Monthly - R1 = 1.0478
Monthly Pivot = 1.0184
Monthly - S1 = 0.9713
Monthly - S2 = 0.9419
Monthly - S3 = 0.8948
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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AUD/USD. Weekly and Monthly Pivot Points, For 21 - 25 / November, 2011
We have two graphs, one weekly and one monthly. The strategy we should do is buy the supports S1, (we must be cautious because if the market is bearish try to fall, until weekly support S2) S2, (at this level there is greater probability that the price rebound, at least to the weekly S1.) S3 (severe long-term strategy with the objective of take profit, to the weekly pivot point.) on the other side. The same applies when a market is bullish expect the levels of R1, R2, R3 to sell and take advantage of the price correction.
_____WEEKLY_____
Weekly - R3 = 1.0625
Weekly - R2 = 1.0484
Weekly - R1 = 1.0246
Weekly Pivot = 1.0105
Weekly - S1 = 0.9867
Weekly - S2 = 0.9726
Weekly - S3 = 0.9488
_____MONTHLY____
Monthly - R3 = 1.2425
Monthly - R2 = 1.1588
Monthly - R1 = 1.1060
Monthly Pivot = 1.0223
Monthly - S1 = 0.9695
Monthly - S2 = 0.8858
Monthly - S3 = 0.8330
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/USD. Weekly and Monthly Pivot Points, For 21 - 25 / November, 2011
We have two graphs, one weekly and one monthly. The strategy we should do is buy the supports S1, (we must be cautious because if the market is bearish try to fall, until weekly support S2) S2, (at this level there is greater probability that the price rebound, at least to the weekly S1.) S3 (severe long-term strategy with the objective of take profit to the weekly pivot point.) on the other side. The same applies when a market is bullish expect the levels of R1, R2, R3 to sell and take advantage of the price correction.
____WEEKLY_____
Weekly - R3 = 1.4141
Weekly - R2 = 1.3977
Weekly - R1 = 1.3750
Weekly Pivot = 1.3586
Weekly - S1 = 1.3359
Weekly - S2 = 1.3195
Weekly - S3 = 1.2968
____MONTHLY______
Monthly - R3 = 1.5449
Monthly - R2 = 1.4848
Monthly - R1 = 1.4352
Monthly Pivot = 1.3751
Monthly - S1 = 1.3255
Monthly - S2 = 1.2654
Monthly - S3 = 1.2158
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
Fundamental Analysis, November, 22 / 2011
The week had begun with the threat of so-called "super committee" of the U.S. Congress, composed of legislators from both major parties do not reach an agreement to reduce the budget deficit in the first world economy.
Indeed, after the close of U.S. markets, the committee announced that it reached an agreement, in words that, if not very carefully read seemed to say just the opposite. "After several months of hard work, and shared effort, do not reach a bipartisan agreement," the statement said, also, unusually, announced that in the coming months, maybe it is a common view.
The truth is that, beyond the pompous announcements, the new political fight puts rating agencies whose credibility is so low as to politicians involved in alertness.
The general comment is that some of them could cut U.S. debt notes. The immediate background, which occurred last August, had two implications well visible: the first was that turned the investing public, in fear of a general market collapse, the bond which had just been cut note, the second was the resignation, dismissal of the CEO of Standard & Poor's. A gesture to the rest of the sector CEOs think it will make the qualifying time of U.S. debt.
Moreover, the predictable happens in these cases: general decline in stock markets around the world, newspapers showing photos of the traders on Wall Street with his hands on his head, the graphs point down, and the same bad omens of good. Until again, any good news to change the mood of the markets.
Tuesday's U.S. session data is to keep the number of retail sales in Canada, along with preliminary U.S. GDP, at 8:30 Eastern. And the FOMC Minutes from the last meeting of the agency, at 2:00 PM.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/USD Bearish Outlook, November 22, 2011 (Daily Strategy)
The Euro-Dollar pair remains under pressure due to high cost of borrowing that remained in Europe and the weakening economic outlook in the Eurozone.
At the technical level we see in the daily chart, the pair has formed a technical figure as a triangle, only the breaking of one of its side will confirm the scenario, either bearish or bullish. if it is a bullish scenario we have a bearish strategy, ie sell at the weekly R1 to target short term pivot level around 1.3580. On the other hand, the range indicator shows that the pair is moving away from the oversold, we could say that there is a struggle to maintain bearish positions. At this level we do not recommend selling or buying. due to the uncertainty.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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GBP/USD wave analysis for November 22, 2011
Wave dimension analysis:
In the beginning of the week the GBP/USD fell by almost 3 figures, which allowed it to stop at 1.5610 later in the day. Therefore the price continued moving within the downside trend section, thus forming the inner wave structure of the 5th wave in the estimated 3rd (or c). If so, the 5th wave itself still does not look complete and allows the possibility of the downside movement to resume in the direction of the target level between 1.5565-1.5550.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
Fundamental Analysis, November, 23 / 2011
The dollar strengthened on all fronts by averaging the European session on Wednesday, growing stronger against the euro, pound sterling and Swiss franc.
The problems facing Europe, more precisely the states with financial problems to meet their sovereign debt, as well as doubts about maneuvers that would be carrying out some banks to "disguise" losses and present a positive number, print a downward force to the euro , who arrived 1 hour at its lowest since Oct. 10.
The euro area remains the center, with investor concerns about escalating plans for a new attempt to rescue Dexia, the Franco-Belgian bank to the brink of bankruptcy as a result of exposure to sovereign debt.
In turn, a negative German manufacturing PMI "helped" this new downward movement of the single currency.
Nevertheless, the stock of the old continent have no negative day: the DAX 30 in Germany grows above 2.5%, figures similar to the CAC 40 and FTSE 100. From there you can also explain the slight recovery experienced by the euro in the last hour.
In the U.S. session key data is expected on durable goods orders, which once generated great expectations among operators, which produced sharp movements. Although the impact that in recent months is somewhat devalued, the forecast is for growth of the orders of 0.1% in October, compared with 1.8% the previous period, subject to revision.
Also known reports of income and personal consumption, all at 8:30 Eastern. Meanwhile, at 9:55 will be the turn of the consumer confidence index from the University of Michigan / Reuters, and 10:30, the weekly inventory of oil.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/JPY Rebound 102,80 November 23, 2011 (Daily Strategy)
EUR/JPY
The euro against the Japanese Yen, is in a downward sequence marked the day yesterday broke its downtrend line, but I can not keep the momentum, however, given that the markets against the dollar oversold they are situated, upward bounce is imminent, we have 2 points to enter, the first will provide an opportunity for a low price in the support level (S1) 102.80 weekly, on the other hand if this level will have to wait for a closing the session above the 1.0440 level to take bullish positions. The range indicator shows the probability of change in short-term trend.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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The USD/JPY technical analysis and trading recommendations for November 23, 2011
4-hour timeframe
Overview:
According to the analysis of the yen on Forex market, the yen decided to keep up with the euro and the franc and remain in the sideways movement. In general the movement is quite weak. The narrow channel forces the Ichimoku indicator to give false signals, therefore it is not recommended to enter the market before the trend movement starts. The Bollinger bands show continuing sideways movement, the lines are slightly diverging and directed sideways, which indicates the recommendation to stay out of the market. The MACD is ascending, which indicates current upside movement, and is located near the zero level, which also points to the absence of the trend.
Trading recommendations:
Currently it is recommended to refrain from yen trading until the trend movement starts.
In addition to technical image, one should take into account the fundamental data and the time of their release.
Chart annotation:
Ichimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with white bars in the indicators window.
Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com