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AUD/USD Elliott wave count and Fibonacci levels - March 4, 2011
AUD/USD is developing impulse subwave C (colored red in the chart) within wave 5 of medium term uptrend - colored magenta in the chart. The targets of the up are Fibonacci expansions off 0.9709-1.0127-1.0064, 1.0064-1.0313-1.0204, and 1.0204-1.0368-1.0310, 1.0310-1.0364-1.0316.
Resistances:
- 1.0411 = contracted objective point (COP)
- 1.0453-57 = confluence area of objective point (OP) and super expanded objective point (SXOP)
- 1.0474-82 = confluence area of two objective points (OP)
If the price keeps declining the immediate supports will be Fibonacci retracements of 1.0310-1.0413.
Supports:
- 1.0374 = .382 retracement
- 1.0361 = .50 ret
- 1.0349 = .618 ret
http://instaforex.com/userfiles/2011...-audusd-in.gif
Overbought/Oversold
Assuming that the medium term trend is up, it's preferable to look for longs when the Detrended Oscillator goes below the zero level (current prices) or gets into the oversold area (15-20 pips to go) - this rougly corresponds to 1.0374 or 1.0361 Fib supports.
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Cattle review for 4 April, 2011
Futures on cattle grew on Friday and hit their all-time highs amid subsistent corn uprise which exacerbated concerns over decrease in beef supplies. Futures closed on uptrend for the 5th trading session in a row.
By the end of CME trades April futures on cattle gained 0.52 cent (0.43%) and reached 1.2207 US dollars per pound. April futures on well-fed stock grew by 0.30 cent (0.22%) and constituted 1.3810 US dollars per pound. May CFD increased by 0.02 cent up to 1.3940 US dollars per pound.
The beef market was supported on Friday by rising corn prices which has been caused by concerns over possible reduction of the reserves. Futures on cattle are rising in price when corn prices are growing since it has negative impact on cattle production.
Additionally, many market participants expect cash prices to increase this week which is to support futures. The market was hit by rumours of Japan keeping on importing American beef in the context of a growing possibility of nuclear pollution caused by Fukushima accident. They were proven by the information that radiation was found in US food, milk particularly.
The market was supported by the US stock market dynamics amid promising data on the labour market: the unemployment rate showed another decline. It caused the expectations of further economic growth to intensify which is likely to lead to increase in demand for beef.
http://instaforex.com/userfiles/2011...icture%203.png
Performed by Vladimir Donin, Analytical expert
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GBP/USD candlestick analysis for March 4, 2011
In a daily graph the GBP/USD is bouncing off after it failed to break the support level near 1.5960.
Earlier on a daily graph the GBP/USD has formed a Three Black Crows candlestick combination, which indicates downside movement.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6400, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the support level 1.5960 will prove this viewpoint. In this case downside movement to 1.5750, where Fibonacci correction level 61.8 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6400 level. Since a break of this level will target the pair to 1.6450.
http://instaforex.com/userfiles/2011...icture%208.png
Performed by Vladimir Donin, Analytical expert
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USD/CAD candlestick analysis for March 4, 2011
Support levels: 0.9600, 0.9550, 0.9500
Resistance levels: 0.9750, 0.9840, 1.0000
In the 4-hour graph the USD/CAD is still refreshing multi-year highs. The viewpoint at the pair remains bearish.
As mentioned before, break of the 0.9810 support level will initiate downside movement to 0.9650 with 0.9600 as further target. Nevertheless, the pair might face high demand near the 0.9589 level, which is a Fibonacci projection of 1.0285 to 0.9666 up to 0.9972.
If a reversal takes place and the USD/CAD breaks the 1.0000 resistance level, further advance to 1.0212 should be expected. Further break of the 1.0380 level will denote that the rollback from 1.0680 is completed and further growth should be expected.
In the midterm the breakout of the support level at 0.9930 indicated continuing midterm downtrend from 1.3063 (2009 high) with 0.9700 as a target. However, this downside movement is probably a correction, and a strong support level is located near 0.9056-0.9700.
Thus, if a reversal takes place, the breakout of 1.0851 will prove the downtrend broken through from 1.3063. In this case the USD/CAD is expected to go up to the resistance level 1.1126 with 1.1866 as the next target.
http://instaforex.com/userfiles/2011...icture%206.png
Performed by Vladimir Donin, Analytical expert
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AUD/USD. Weekly and Monthly Pivot Points, For April 04-08, 2011
_____WEEKLY_____
Weekly - R3 = 1.0639
Weekly - R2 = 1.0516
Weekly - R1 = 1.0450
Weekly Pivot = 1.0327
Weekly - S1 = 1.0261
Weekly - S2 = 1.0138
Weekly - S3 = 1.0072
http://instaforex.com/userfiles/2011...voteaudwee.gif
_____MONTHLY______
Monthly - R3 = 1.1220
Monthly - R2 = 1.0795
Monthly - R1 = 1.0560
Monthly Pivot = 1.0135
Monthly - S1 = 0.9900
Monthly - S2 = 0.9475
Monthly - S3 = 0.9240
http://instaforex.com/userfiles/2011...oteaudmont.gif
Performed by Gerardo Porras Palomino, Analytical expert
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EUR/USD. Weekly and Monthly Pivot Points, For April 04-08, 2011
_____WEEKLY_____
Weekly - R3 = 1.4542
Weekly - R2 = 1.4395
Weekly - R1 = 1.4315
Weekly Pivot = 1.4168
Weekly - S1 = 1.4088
Weekly - S2 = 1.3941
Weekly - S3 = 1.3861
http://instaforex.com/userfiles/2011...voteurowee.gif
_____MONTHLY______
Monthly - R3 = 1.4852
Monthly - R2 = 1.4550
Monthly - R1 = 1.4352
Monthly Pivot = 1.4050
Monthly - S1 = 1.3852
Monthly - S2 = 1.3550
Monthly - S3 = 1.3352
http://instaforex.com/userfiles/2011...oteuromont.gif
Performed by Gerardo Porras Palomino, Analytical expert
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GBP/USD. Weekly and Monthly Pivot Points, For April 04-08, 2011
_____WEEKLY____
Weekly - R3 = 1.6419
Weekly - R2 = 1.6286
Weekly - R1 = 1.6199
Weekly Pivot = 1.6066
Weekly - S1 = 1.5979
Weekly - S2 = 1.5846
Weekly - S3 = 1.5759
http://instaforex.com/userfiles/2011...otlibrawee.gif
_____MONTHLY______
Monthly - R3 = 1.6776
Monthly - R2 = 1.6588
Monthly - R1 = 1.6309
Monthly Pivot = 1.6121
Monthly - S1 = 1.5842
Monthly - S2 = 1.5654
Monthly - S3 = 1.5375
http://instaforex.com/userfiles/2011...otlibramon.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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EUR/USD wave analysis for April 4, 2011
http://instaforex.com/userfiles/20110404/EUR_h4.gif
Friday’s highly volatile EUR/USD trading allowed the price to fluctuate two figures between
the daily high and low. At the same time, in relation with testing of the 1.4250 level,
current wave situation leaves a chance for the euro to advance to 1.4320 – 1.4350 in the
range of the 5th wave, in the 5th (in the 3rd) of the whole uptrend section developed after
February 22.
Performed by Alexander Dneprovskiy, Analytical expert
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GBP/JPY Elliott wave count and Fibonacci levels - March 5, 2011
GBP/JPY is moving within corrective wave 4 of medium term uptrend - colored red in the chart. This wave in its turn is part of larger wave C - colored magenta in the chart. The immediate supports are Fibonacci retracements of 132.38-136.03, 130.18-136.03.
Supports:
- 134.64 = .382 retracement
- 134.20 = .50 ret
- 133.80-77 = confluence area of .382 and .618 retracements
- 133.11 = .50 ret
- 132.41 = .618 ret
If the uptrend resumes the immediate resistances will be Fibonacci expansions off 122.49-133.04-130.18, and 130.18-133.76-132.38, and also 132.38-136.03-135.10.
Resistances:
- 136.70 = contracted objective point (COP)
- 137.36 = COP
- 138.17 = expanded objective point (XOP)
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the medium term is now up it's preferable to look for longs when the Detrended Oscillator gets below the zero level (10-15 pips below the current price) or into the oversold area (30-40 pips to go).
Performed by Roman Molodiashin, Analytical expert
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AUD/USD Elliott wave count and Fibonacci levels - March 5, 2011
The AUD/USD currency pair paused after strong growth and refreshing all-time highs.
Earlier on a 4-hour graph the AUD/USD formed a Three White Soldiers candlestick combination that indicates upside movement, confirmed further.
This combination formed amid a growth after an attempt to break the support level 0.9700; afterwards the bulls started to increase their influence. This candlestick combination provided a good opportunity to open long positions.
Besides, the AUD/USD broke the 61.8 Fibonacci correction level. Break of the 1.0350 resistance level targeted the pair to 1.0400.
It is worth mentioning that stop loss should be placed slightly below the support level 1.0300, since its break will allow the pair to decline to 1.0200.
http://instaforex.com/userfiles/2011...cture%2012.png
Performed by Vladimir Donin, Analytical expert
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EUR/USD candlestick analysis for March 5, 2011
EUR/USD pair is rolling back after it failed to test the 1.4278 resistance level. As mentioned before, a break of this level will target the pair to 1.4577. Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint. Now we should expect an upside movement to 1.4278 resistance level.
It is worth mentioning that stop loss orders should be placed slightly below 1.4016 as a break of this level will denote that the uptrend is broken.
http://instaforex.com/userfiles/2011...re%2011(1).png
Performed by Vladimir Donin, Analytical expert
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GBP/USD candlestick analysis for March 5, 2011
In a daily graph the GBP/USD is rolling back after it failed to break the support level near 1.5960.
Earlier on a daily graph the GBP/USD has formed a Three Black Crows candlestick combination, which indicates downside movement.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6400, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the support level 1.5960 will prove this viewpoint. In this case downside movement to 1.5750, where Fibonacci correction level 61.8 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6400 level. Since a break of this level will target the pair to 1.6450.
http://instaforex.com/userfiles/2011...cture%2014.png
Performed by Vladimir Donin, Analytical expert
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NZD/USD candlestick analysis for March 5, 2011
The NZD/USD currency pair is rolling back after it successfully broke the 0.7660 resistance level.
As mentioned before, in a 4-hour graph the NZD/USD pair formed an Inverted Hammer candlestick, indicating upside movement.
This candlestick was formed after the decline of the currency pair was limited near 0.7160, which denotes that the bears could not solidify here and the bulls started to increase their influence.
Break of the Fibonacci correction level 23.6 proves this viewpoint. Now we should expect upside movement to the Fibonacci correction level 50.0, where the resistance level 0.7660 is also located.
Stop loss should be placed slightly below 0.7585, since its break will allow the pair to reach 0.7480.
http://instaforex.com/userfiles/2011...cture%2013.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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USD/JPY Bearish Outlook, April 05, 2011 (Daily Strategy)
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USD/JPY
Last week, a sharp upward sequence led to the United States dollar - Japanese yen pair to the price levels of 84.70 and 84.35, where the pair currently operates. Current price levels are high enough to establish the short position.
The break below the 83.50 support level also will serve as a trigger for taking short position on the pair, which could easily return to the 81.25 support level and even low levels of support yet for those who walked for two weeks, from 79.90 yen per dollar.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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USD/CHF Bullish Outlook April 05, 2011 (Daily Strategy)
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USD/CHF
The United States dollar – Swiss Franc pair, shows that the pair is on the threshold of an upside breakout, from the resistance level of 0.9240.
It is important to note that we do want to buy only if price is above the weekly pivot line around the 0.9237.Our outlook will remain bullish, always when the price has not broken its uptrend line and if it closes below 0.9200.
The RSI indicator reflect an upward movement to the secondary trend line of the pair passing through the price level of 0.9550 Swiss francs dollar.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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GBP/USD wave analysis for April 5, 2011
http://instaforex.com/userfiles/20110405/GBP_h4.gif
Yesterday’s two attempts to overcome the 1.6170 level failed; as a result the GBP/USD pair started to trade in a narrow price range. It is worth pointing out that local upside section initiated March 28, now has characteristics of a complete 5-wave structure. At the same time, given the MACD divergence, the price might continue yesterday’s decline in the direction of the 60 figure level.
Performed by Alexander Dneprovskiy, Analytical expert
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EUR/GBP Bearish Outlook, April 06, 2011 (Daily Strategy)
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EUR/GBP
The downward break of yesterday's trend line was the first sign of a prolonged downward trend that could affect the pair.
The technical analysis allocates the pair a drop to support levels of at least 0.8320. It is important to also note the negative deviation received from the MACD indicator. The deviation provides support for the negative forecast and allows for a short entry with much higher certainty than the expected trend.
The first objective for the partial exercise of the short position is in relation to the first monthly support level 0.8570, while the second goal for the total exercise is in relation to the second level of monthly support low, around 0, 8320.
Performed by Gerardo Porras Palomino, Analytical expert
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GBP/AUD Bullish Outlook April 06, 2011 (Daily Strategy)
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GBP/AUD
The downward correction of today represented by the time a technical correction in the short term bullish last sequence and therefore, could create an attractive opportunity to buy, before the pair continue to rise with the rising wave that awaits.
Our goal for the exercise of the long position is in relation to the first level of monthly resistance around 1.6160 Australian Dollars per Pound Sterling.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/USD wave analysis for April 6, 2011
http://instaforex.com/userfiles/20110406/EUR_h4.gif
Yesterday the EUR/USD could not develop the recent downside movement and went up from the reached low (1.4155) by almost a figure later in the day. At the same time current wave situation allows further development of the upside movement and forming a more complex inner wave structure of the 5th wave, in the 3rd. Simultaneously, the euro still might resume downside correction in the range of future continuous 4th wave.
Performed by Alexander Dneprovskiy, Analytical expert
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GBP/JPY Elliott wave count and Fibonacci levels - March 7, 2011
GBP/JPY is developing wave C of medium term uptrend - colored magenta in the chart. This wave in its turn has 5 subwaves (colored red) and wave A of potential corrective A-B-C cycle that is going against the 5 waves. The targets of the downmove are Fibonacci retracements of 135.10-139.60, 130.18-139.60 and expansions off 139.60-138.03-139.54.
Supports:
- 137.97-88 = confluence area of objective point (OP) and .382 retracement
- 137.35 = .50 ret
- 137.00 = expanded objective point (XOP)
- 136.82 = .618 ret
- 136.00 = .382 ret
- etc.
If the uptrend resumes the immediate resistances will be Fibonacci expansions off 122.49-133.04-130.18, 130.18-133.76-132.38, 132.38-136.03-135.10.
Resistances:
- 140.73 = objective point (OP)
- 141.01 = expanded objective point (XOP)
- 141.75 = super expanded objective point (SXOP)
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the medium term is now up it's preferable to look for longs when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (current prices), or hits Fib support area at 130.97-88.
Performed by Roman Molodiashin, Analytical expert
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AUD/USD Elliott wave count and Fibonacci levels - March 7, 2011
AUD/USD is developing impulse subwave C (colored magenta in the chart) within wave C of larger degree - colored royal blue in the chart. The former wave now has 5 subwaves - colored yellow in the chart. And subwave 5 is still developing. The targets of the upmove are Fibonacci expansions off 0.9709-1.0313-1.0204, 1.0204-1.0413-1.0285, 1.0285-1.0364-1.0311, 1.0311-1.0447-1.0415.
Resistances:
- 1.0494-99 = confluence area of objective point (OP) and contracted objective point (COP)
- 1.0518 = super expanded objective point (SXOP)
- 1.0551 = OP
- 1.0577 = COP
If the price reverses down the immediate supports will be Fibonacci retracements of 1.0285-1.0478.
Supports:
- 1.0404 = .382 retracement
- 1.0381 = .50 ret
- 1.0359 = .618 ret
http://instaforex.com/userfiles/2011...-audusd-in.gif
Overbought/Oversold
Assuming that the medium term trend is up, it's preferable to look for longs when the Detrended Oscillator goes below the zero level (5-10 pips below the current prices) or gets into the oversold area (20-30 pips to go - which roughly corresponds to 1.0390 Fib resistance), or hits Fib support at 1.0404.
Performed by Vladimir Donin, Analytical expert
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EUR/USD candlestick analysis for March 7, 2011
EUR/USD pair has successfully broken the 1.4278 resistance level. As mentioned before, a break of this level will target the pair to 1.4577.
Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint. Now we should expect an upside movement to 1.4278 resistance level.
It is worth mentioning that stop loss orders should be placed slightly below 1.4100 as a break of this level will denote that the uptrend is broken.
http://instaforex.com/userfiles/2011...cture%2011.png
Performed by Vladimir Donin, Analytical expert
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GBP/USD candlestick analysis for March 7, 2011
GBP/USD is rolling back severely after it failed to break the support level near 1.5960.
Earlier in a daily graph the GBP/USD formed a Three Black Crows candlestick combination, which indicates a downside movement.
This candlestick combination formed after the pair had failed to break the resistance level near 1.6400, which means that the bulls could not solidify here. Further the bears started to increase their influence.
A break of the support level 1.5960 will prove this viewpoint. In this case downside movement to 1.5750, where Fibonacci correction level 61.8 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6400 level. Since a break of this level will target the pair to 1.6450.
http://instaforex.com/userfiles/2011...cture%2012.png
Performed by Vladimir Donin, Analytical expert
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EUR/AUD candlestick analysis for March 7, 2011
In a 4-hour graph the EUR/AUD currency pair formed a Piercing line candlestick combination, indicating upside movement.
This candlestick combination formed in a downtrend after the pair reached the high at 1.4341 where the bulls could not solidify and the bears started to increase their influence. However, the pair rebounded near 1.3630.
Upside movement is supported by the fact that the pair is trading near support levels that prevented the EUR/AUD from a downfall for several weeks in Autumn of 2010.
Break of the 23.6 Fibonacci correction level will prove this viewpoint. Further, if the main support level, where the 38.2 Fibonacci correction level is also located, is broken, in this case an advance to 1.4520 should be expected.
On the other hand, if the pair breaks the 1.3630 support level, long positions should be closed as a breal of this level might result in a decline to 1.3500.
[img]http://instaforex.com/userfiles/20110407/Picture%2014.png[img]
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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USD/CAD Bullish Outlook April 07, 2011 (Daily Strategy)
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USD/CAD
The sharp increases in the price of petroleum gave support to the price of the Canadian
dollar was strengthened significantly in front the U.S. dollar.
In effect, the wave bearish on the loonie - United States dollar pair slowed for the first
time yesterday after encountered with the strong support level of 0.9567 and failed to
drill down.
The encounter with the strong level of support brings us to the conclusion that the low
price of the pair creates an interesting opportunity to buy, a daily close above 0.9610
confirm our bullish outlook.
Our goal for the exercise of the long position is in relation to the second level of
monthly resistance around 0.9890
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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EUR/JPY Bearish Outlook, April 07, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110407/euryoyenn.gif
EUR/JPY
In the last hours, the EUR / JPY has lost around 100 pips, showing signs of a possible
correction, or change in trend.A daily close below the first monthly resistance confirms
our bearish outlook.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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USD/CHF wave analysis for April 7, 2011
http://instaforex.com/userfiles/20110407/CHF_h4.gif
During yesterday’s trading the USD/CHF currency pair declined by 150 pips from the daily
highs. As a result of such decline inner wave structure of the estimated 2nd wave (or b)
has become quite complex and prolonged. At the same time, all this correction decline is
developing in relation to the upside section formed between March 23 and April 1, which in
its turn is probably the 1st wave (or a). If so, the currency pair might resume growth from
the correction level 61.8% or even from yesterday’s low.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
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The EUR/USD technical analysis and trading recommendations for April 7, 2011
http://instaforex.com/userfiles/20110407/eurusd%204.gif
Overview:
We can see that the euro is still observing the buy signal, correction movement has not
started yet, which allows us to trade up. The formed sell signal is strong and confirmed,
since the Chinkou Span fixated above the price graph and the price is above the Ichimoku
cloud. Thus, the first target for the upside movement is 1.4315 – the first resistance
level, reached already. If this level is passed the second target will be the second
resistance level at 1.4395. Upside movement remains while the price is above the Kijun-sen
(1.4205), if the price fixates below this line it is recommended to cut long positions. The
Chinkou Span is above the price graph, which confirms the current buy signal and indicates
bullish sentiment. The Bollinger bands show upside movement, the lines are diverging and
directed up. The MACD is ascending, thus indicating current upside movement, if it reverses
down, long positions should be cut as this will denote the beginning of a correction
movement.
Trading recommendations:
Currently it is recommended to trade up with target at 1.4315 and further to 1.4395. Stop
Loss should be placed below 1.4205. If the MACD reverses down, it is recommended to cut
long positions.
In addition to technical image, one should take into account the fundamental data and the
time of their release.
The 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
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GBP/JPY Elliott wave count and Fibonacci levels - March 8, 2011
GBP/JPY is developing potential corrective wave B of A-B-C cycle of corrective waves. The targets of the downmove are Fibonacci retracements of 135.10-139.60, 130.18-139.60.
Supports:
- 137.35 = .50 retracement
- 136.82 = .618 ret
- 136.00 = .382 ret
- etc.
But if the price breaks above 139.60 the current wave up will become subwave C of impulse wave of larger degree. The immediate resistances will then be Fibonacci expansions off 122.49-133.04-130.18, 130.18-133.76-132.38, 132.38-136.03-135.10, 135.10-139.60-137.80.
Resistances:
- 140.58 = contracted objective point (COP)
- 140.73 = objective point (OP)
- 141.01 = expanded objective point (XOP)
- 141.75 = super expanded objective point (SXOP)
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the medium term is now up it's preferable to look for longs when the Detrended Oscillator gets below the zero level (25-30 pips below the current prices) or into the oversold area (55-70 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
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AUD/USD Elliott wave count and Fibonacci levels - March 8, 2011
AUD/USD is developing impulse subwave C (colored magenta in the chart) within wave C of larger degree - colored royal blue in the chart. The former wave now has 3 subwaves - colored red in the chart. And subwave C is still developing. The targets of the upmove are Fibonacci expansions off 0.9709-1.0313-1.0204, 1.0204-1.0413-1.0285, 1.0285-1.0504-1.0408.
Resistances:
- 1.0543 = contracted objective point (COP)
- 1.0577 = COP
- 1.0623-27 = confluence area of expanded objective point (XOP) and objective point (OP)
If the price reverses down the immediate supports will be Fibonacci retracements of the wave up from 1.0408 - this wave is not developed yet.
http://instaforex.com/userfiles/2011...-audusd-in.gif
Overbought/Oversold
Assuming that the medium term trend is up, it's preferable to look for longs when the Detrended Oscillator goes below the zero level (30-35 pips below the current prices) or gets into the oversold area (45-55 pips to go).
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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EUR/USD candlestick analysis for March 8, 2011
EUR/USD pair has successfully broken the 1.4278 resistance level, to continue the upside movement further. As mentioned before, a break of this level will target the pair to 1.4577.
Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint.
It is worth mentioning that stop loss orders should be placed slightly below 1.4100 as a break of this level will denote that the uptrend is broken.
http://instaforex.com/userfiles/2011...cture%2010.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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NZD/USD candlestick analysis for March 8, 2011
At the moment the NZD/USD currency pair is testing the 0.7829 resistance level, which is February, 2011 high. Its break will allow the pair to reach 0.7974.
As mentioned before, in a 4-hour graph the NZD/USD pair formed an Inverted Hammer candlestick, indicating an upside movement.
This candlestick was formed after the decline of the currency pair was limited near 0.7160, which denotes that the bears could not solidify here and the bulls started to increase their influence.
The break of the Fibonacci correction level 23.6 proves this viewpoint. Now we should expect an upside movement to the 0.7660 level, following the Fibonacci correction level 50.0 break.
Stop loss should be placed slightly below 0.7660, since its break will allow the pair to reach 0.7585.
http://instaforex.com/userfiles/2011...cture%2012.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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EUR/GBP candlestick analysis for March 8, 2011
The EUR/GBP is trading down this week. As mentioned before, in case the Fibonacci correction level 50.0 is broken short positions should be closed since it will denote that the downtrend is breached and the pair will be targeted to 0.98.
Earlier in a weekly graph the EUR/GBP has formed a candlestick combination Bearish Engulfing on the downtrend.
Downside movement is supported by the fact that this candlestick combination has formed near the upper limit of the downtrend where the bulls did not manage to solidify and the bears started to increase their influence. Further a rebound took place.
As mentioned before, successful breakthrough of the support level near 0.8430-0.8450 targeted the pair to 0.8143.
http://instaforex.com/userfiles/2011...cture%2013.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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GBP/USD Bearish Outlook, April 08, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...britadolar.gif
GBP/USD
The pound – US dollar pair has once again met the stubborn level of 1.6400, the same level
that halted the climb of the pair during the previous wave of increases. the estimate is
that this time the pair could well break through this level and will continue its positive
upward momentum. Of course, there is the possibility of a reversal of the trend and a move
to a drop in exchange rates
Therefore, a daily close below the first weekly resistance would lead to a low price around
the 1.6190 level and then return to its upward trend.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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EUR/USD wave analysis for April 8, 2011
http://instaforex.com/userfiles/20110408/EUR_h4.gif
During yesterday’s trading the EUR/USD was declining from the 1.4345 high, reached earlier.
At the same time, such downside movement is probably limited by the estimated 4th, in the
5th (in the 3rd), which might become more complex and prolonged given a very complex inner
wave structure of the 5th wave. Simultaneously, target levels for this 5th (in the 3rd)
still apply and are located near the 44 figure level.
Performed by Alexander Dneprovskiy, Analytical expert
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The EUR/USD technical analysis and trading recommendations for April 8, 2011
4-hour timeframe
http://instaforex.com/userfiles/20110408/eurusd%204.gif
Overview:
We can see that the euro is still observing the buy signal, correction movement has ended,
which allows us to trade up. The formed sell signal is strong and confirmed, since the
Chinkou Span fixated above the price graph and the price is above the Ichimoku cloud. Thus,
the first target for the upside movement is 1.4395 – the first resistance level, reached
already. If this level is passed the second target will be the second resistance level at
1.4542. Upside movement remains while the price is above the Kijun-sen (1.4280), if the
price fixates below this line it is recommended to cut long positions. The Chinkou Span is
above the price graph, which confirms the current buy signal and indicates bullish
sentiment. The Bollinger bands show upside movement, the lines are diverging and directed
up. The MACD is ascending, thus indicating current upside movement, if it reverses down,
long positions should be cut as this will denote the beginning of a correction movement.
Trading recommendations:
Currently it is recommended to trade up with target at 1.4395 and further to 1.4542. Stop
Loss should be placed below 1.4280. If the MACD reverses down, it is recommended to cut
long positions.
In addition to technical image, one should take into account the fundamental data and the
time of their
release.
The 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
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USD/JPY. Weekly and Monthly Pivot Points, For April 11-15, 2011
_____WEEKLY_____
Weekly - R3 = 87.27
Weekly - R2 = 86.41
Weekly - R1 = 85.60
Weekly Pivot = 84.74
Weekly - S1 = 83.93
Weekly - S2 = 83.07
Weekly - S3 = 82.26
http://instaforex.com/userfiles/2011...20jpypivot.gif
_____MONTHLY______
Monthly - R3 = 92.30
Monthly - R2 = 87.79
Monthly - R1 = 85.47
Monthly Pivot = 80.96
Monthly - S1 = 78.64
Monthly - S2 = 74.13
Monthly - S3 = 71.81
http://instaforex.com/userfiles/2011...20jpypivot.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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AUD/USD. Weekly and Monthly Pivot Points, For April 11-15, 2011
_____WEEKLY_____
Weekly - R3 = 1.0960
Weekly - R2 = 1.0770
Weekly - R1 = 1.0666
Weekly Pivot = 1.0476
Weekly - S1 = 1.0372
Weekly - S2 = 1.0182
Weekly - S3 = 1.0078
http://instaforex.com/userfiles/2011...20audpivot.gif
_____MONTHLY______
Monthly - R3 = 1.1220
Monthly - R2 = 1.0795
Monthly - R1 = 1.0560
Monthly Pivot = 1.0135
Monthly - S1 = 0.9900
Monthly - S2 = 0.9475
Monthly - S3 = 0.9240
http://instaforex.com/userfiles/2011...udpivot(1).gif
Performed by Gerardo Porras Palomino, Analytical expert
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EUR/USD. Weekly and Monthly Pivot Points, For April 11-15, 2011
_____WEEKLY_____
Weekly - R3 = 1.4935
Weekly - R2 = 1.4713
Weekly - R1 = 1.4315
Weekly Pivot = 1.4377
Weekly - S1 = 1.4263
Weekly - S2 = 1.4041
Weekly - S3 = 1.3927
http://instaforex.com/userfiles/2011...0europivot.gif
_____MONTHLY______
Monthly - R3 = 1.4852
Monthly - R2 = 1.4550
Monthly - R1 = 1.4352
Monthly Pivot = 1.4050
Monthly - S1 = 1.3852
Monthly - S2 = 1.3550
Monthly - S3 = 1.3352
http://instaforex.com/userfiles/2011...0europivot.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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================================================== ===================================
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GBP/USD. Weekly and Monthly Pivot Points, For April 11-15, 2011
_____WEEKLY____
Weekly - R3 = 1.6848
Weekly - R2 = 1.6639
Weekly - R1 = 1.6512
Weekly Pivot = 1.6306
Weekly - S1 = 1.6176
Weekly - S2 = 1.5967
Weekly - S3 = 1.5840
http://instaforex.com/userfiles/2011...20gbppivot.gif
_____MONTHLY______
Monthly - R3 = 1.6776
Monthly - R2 = 1.6588
Monthly - R1 = 1.6309
Monthly Pivot = 1.6121
Monthly - S1 = 1.5842
Monthly - S2 = 1.5654
Monthly - S3 = 1.5375
http://instaforex.com/userfiles/2011...20gbppivot.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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USD/CHF wave analysis for April 11, 2011
http://instaforex.com/userfiles/20110411/CHF_h4.gif
On Friday the USD/CHF currency pair continued downside movement and observed the correction
level 76.4% by the end of the day, thus being back to the range of the main downtrend. At
the same time, inner wave structure of the wave of current estimated correction has become
quite complex and continuous. Given this, we might suppose that this wave is approaching
its end, which is probably located near 0.9060 – 0.9050.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
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GBP/JPY Elliott wave count and Fibonacci levels - March 12, 2011
GBP/JPY has finished wave 130.18-139.93 - wave C of medium term uptrend, colored royal blue in the chart. And now corrective wave 4 is developing. This wave on smaller scale has A-B-C subwaves within it, and subwave C is still developing - colored orange red. The targets of the downmove are Fibonacci retracements of 130.18-139.93, 122.49-139.93, and expansions off 139.93-137.92-139.15, 139.15-138.10-138.50.
Supports:
- 135.90 = expanded objective point (XOP)
- 135.75 = super expanded objective point (SXOP)
- 135.06 = .50 retracement
- 133.90-89 = confluence area of .618 retracement and SXOP
- 133.27 = .382 ret
If the price reverses up the immediate resistances will be Fibonacci retracements of the waves down from 139.15 and 139.93 - these waves are not developed yet.
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the medium term is down it's preferable to open short positions when the Detrended Oscillator gets above the zero level (35-40 pips above the current prices) or into the overbought area (75-95 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD Elliott wave count and Fibonacci levels - March 12, 2011
AUD/USD has finished wave 1.0204-1.0580 (wave C of medium term uptrend - colored royal blue in the chart) and now is developing corrective wave 4. Within this wave there are A-B-C subwaves (colored yellow in the chart) with subwave C still in development. The targets of the downmove are Fibonacci retracements of 1.0285-1.0580, 1.0204-1.0580, and expansions off 1.0580-1.0483-1.0511.
Supports:
- 1.0398-92 = confluence area of .618 and .50 retracements, already achieved
- 1.0354-48 = confluence area of expanded objective point (XOP) and .618 ret
- 1.0257 = super expanded objective point (SXOP)
If the price reverses up the immediate resistances will be Fibonacci retracements of the wave down from 1.0580 - this wave is not developed yet.
http://instaforex.com/userfiles/2011...-audusd-in.gif
Overbought/Oversold
Assuming that the medium term trend is down, it's preferable to look for shorts when the Detrended Oscillator goes above the zero level (25-30 pips above the current prices) or gets into the overbought area (50-60 pips to go).
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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USD/CAD candlestick analysis for March 12, 2011
Support levels: 0.9500, 0.9450, 0.9400
Resistance levels: 0.9670, 0.9750, 0.9840
In the 4-hour graph the USD/CAD is bouncing off after refreshing multi-year lows. The viewpoint at the pair remains bearish as the downtrend remains.
As mentioned before, break of the 0.9571 support level allowed the pair to reach 0.9500. Besides, we can expect a decline to 0.9353, which is 100.0 Fibonacci projection of 1.0285 to 0.9666 up to 0.9972.
If a reversal takes place and the USD/CAD breaks the 0.9840 resistance level, further advance to 1.0000 should be expected. Further break of the 1.0380 level will denote that the rollback from 1.0680 is completed and further growth should be expected.
In the midterm the breakout of the support level at 0.9930 indicated continuing midterm downtrend from 1.3063 (2009 high) with 0.9700 as the first target and 0.9500 as the next possible target. However, this downside movement is probably a correction, and a strong support level is located near 0.9056-0.9700.
Thus, if a reversal takes place, the breakout of 1.0851 will prove the downtrend broken through from 1.3063. In this case the USD/CAD is expected to go up to the resistance level 1.1126 with 1.1866 as the next target.
http://instaforex.com/userfiles/2011...icture%208.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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NZD/USD candlestick analysis for March 12, 2011
Earlier on a 4-hour graph the USD/SEK formed a Bullish Engulfing candlestick combination that indicates upside movement, confirmed further.
This combination formed after the pair failed to break the 6.1758 level, which means that the bears could not solidify here and the bulls started to increase their influence.
Break of the Fibonacci correction level 23.6 proves this viewpoint. Now we should expect upside movement to the 6.3678 level, where the Fibonacci correction level 61.8 is also located.
However, it is worth mentioning that if the 6.1758 support level is broken, long positions should be closed as this will cause a decline to the 6.1250 level.
http://instaforex.com/userfiles/2011...cture%2017.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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Gold review for April 12, 2011
On Monday futures on Gold declined amid weakening geopolitical instability thanks to the efforts aimed at ceasefire in the Middle East and US budget coordination. By the end of COMEX trades, June futures on Gold quotations dropped by USD 6 (0.4%) down to USD 1468.10 per troy ounce. During the trades futures reached a new all-time high of USD 14678 per ounce.
April futures lost USD 6 (0.4%) and constituted USD 1467.40. On Sunday evening The African Union representatives met with Libyan leader Muhammar Gaddafi and announced that he accepted their offer to cease fire. Yet it is unclear whether Gaddafi will retire then. The uncertainty on the market eased and investors’ inclination to risk intensified; the market participants have been tending to transfer their funds from Gold into more risky assets such as stocks which are more profitable. On Friday evening the leaders of US Republican and Democratic parties came to the consensus over the issue of reducing expenditures by the end of the financial year. The work of the federal government was not interrupted.
The prices for Gold grew amid the concerns over possible suspense in the government functioning as this metal is considered to be an instrument of hedging against political risks. The strengthening US dollar put pressure upon the Gold prices on Monday. The America currency recovered against the euro. Futures on Gold of which the prices are in US dollars, are becoming more expensive for investors working with foreign currencies when the US dollar is strengthening. Despite the Monday decrease, the prices for Gold are remaining near record levels. Some market observers note that USD 1500 level per ounce is possible to be attained. However, traders have been cautious regarding support ensured to Gold prices by investors’ demand. Managed currency, including hedging funds, boosted their positions amid prices growth for the third week in a row, having increased the volume of net long positions by 8.8% up to 216868 contracts on week March 30 – April 5. Meanwhile, inconsiderable investment flows in Gold-supported index funds which are believed to be an indicator of long-term investments, have been pointing at the weak current growth of the prices for Gold.
http://instaforex.com/userfiles/2011...icture%206.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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CRUDE OIL Bullish Outlook April 15, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...topetroleo.gif
CRUDE OIL
Yesterday, the price of oil that dropped back and closed the trading day beneath the
important test level of 109.37(1st Weekly Support) reaching the level of 107.87 dollars.
Now the pair is trading below this level.
We thus believe that the pair found a new support around the fractal that takes you to the
106.50 level, then resume their upward force to the levels of 117.00 dollars per barrel
price of ultimate goal.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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USD/CHF Bullish Outlook April 12, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...rancosuizo.gif
USD/CHF
The United States dollar – Swiss Franc pair, is in the final stage of its last downward
wave, We expect that around the first weekly support the pair found support strong stand to
prevent the sequence downward.
The pair is faced with two strong supports the weekly and monthly, around 0.8986, 0.8955
respectively.The progress of the pair to this level will create an attractive buying
opportunity for long position with a bullish outlook to the maximum levels around 0.9450.
It should be noted that as this operation is realized, the first point of partial exercise
could be situated in relation to the nearest resistance level which is around 0.9220.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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USD/LPY wave analysis for April 12, 2011
http://instaforex.com/userfiles/20110412/JPY_h4.gif
As expected, the USD/JPY currency pair continued to move in a horizontal corridor above the
correction level 23.6%, forming a quite complex inner wave structure of the current
correction. At the same time we should not eliminate the possibility of the estimated 4th
wave (in the 3rd) to obtain the shape of an inclined triangle with the price slumping to
the correction level 38.2%. At the same time, overbought Stochastic might indicate further
resumption of the pair’s growth.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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GBP/JPY Elliott wave count and Fibonacci levels - March 13, 2011
GBP/JPY has finished wave 130.18-139.93 - wave C of medium term uptrend, colored royal blue in the chart. And now corrective wave 4 is developing. This wave on smaller scale has four subwaves within it, and corrective subwave 4 is still developing - colored orange red in the chart. The targets of the upmove are Fibonacci retracements of 139.93-135.62 and 139.15-135.62.
Resistances:
- 137.27-38 = confluence area of .382 and .50 retracements
- 137.78-80 = .50 and .618 retracements
- 138.28 = .618 ret
If the downtrend resumes the immediate supports will be Fibonacci retracements of 130.18-139.93, 122.49-139.93, and expansions off 139.93-137.92-139.15.
Supports:
- 135.06 = .50 retracement
- 133.90-89 = confluence area of .618 retracement and SXOP
- 133.27 = .382 ret
- etc.
If the price reverses up the immediate resistances will be Fibonacci retracements of the waves down from 139.15 and 139.93 - these waves are not developed yet.
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD Elliott wave count and Fibonacci levels - March 13, 2011
AUD/USD has finished wave 1.0204-1.0580 (wave C of medium term uptrend - colored royal blue in the chart) and now is developing corrective wave 4. Within this wave there are A-B-C subwaves (colored red in the chart) with subwave C still in development. To confirm subwave C break below 1.0389 is needed. The targets of the downmove are Fibonacci retracements of 1.0285-1.0580, 1.0204-1.0580, and expansions off 1.0580-1.0389-1.0521.
Supports:
- 1.0403 = contracted objective point (COP)
- 1.0398-92 = confluence area of .618 and .50 retracements, already achieved
- 1.0348 = .618 ret
- 1.0330 = objective point (OP)
If the price reverses up the immediate resistances will be Fibonacci expansions off 1.0389-1.0521-1.0428.
Resistances:
- 1.0510 = COP
- 1.0560 = OP
http://instaforex.com/userfiles/2011...-audusd-in.gif
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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USD/SEK candlestick analysis for March 13, 2011
Earlier on a 4-hour graph the USD/SEK formed a Bullish Engulfing candlestick combination that indicates upside movement, confirmed further.
This combination formed after the pair failed to break the 6.1758 level, which means that the bears could not solidify here and the bulls started to increase their influence.
Break of the Fibonacci correction level 23.6 proves this viewpoint. Now we should expect upside movement to the 6.3678 level, where the Fibonacci correction level 61.8 is also located.
However, it is worth mentioning that if the 6.1758 support level is broken, long positions should be closed as this will cause a decline to the 6.1250 level.
http://instaforex.com/userfiles/2011...ure%207(1).png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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NZD/USD candlestick analysis for March 13, 2011
The NZD/USD currency pair has successfully tested the 0.7829 resistance level, which is February 2011 high. Now upside movement to 0.7974 should be expected.
As mentioned before, in a 4-hour graph the NZD/USD pair formed an Inverted Hammer candlestick, indicating upside movement.
This candlestick was formed after the decline of the currency pair was limited near 0.7160, which denotes that the bears could not solidify here and the bulls started to increase their influence.
The break of the Fibonacci correction level 23.6 proves this viewpoint. Now we should expect an upside movement to the 0.7660 level, following the Fibonacci correction level 50.0 break.
Stop loss should be placed slightly below 0.7660, since its break will allow the pair to reach 0.7585.
http://instaforex.com/userfiles/2011...icture%206.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD Bearish Outlook, April 13, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...tralianito.gif
AUD/USD
The daily chart of AUD / USD, we believe that the pair has found a strong barrier to overcoming the price of 1.0580, from my point of view, if the pair tried again de1.0560 back to level, and fail in its attempt to drill, would be an opportunity to enter into short selling, with a target around the second Weekly support is the level of 1.0180.
However, if the pair descend and close below the weekly pivot around 1.0476 would be a clear indication to enter selling, our stop loss above the monthly maximum.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/JPY Bearish Outlook, April 13, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...oyencitooo.gif
EUR/JPY
The strengthening of the euro in recent days push the price of pair Euro - Japanese yen, the two candles before today's meeting shows bearish, although not yet finished the trading day, and we believe that if the pair continued their upward trend will rise to the level of 124.00.
However, a daily close below the weekly pivot line around 121.60, would show signs of a trend change that would lead to the nearest support around 117.80. we recommend taking a bearish position, only if the price is below the weekly pivot line.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/USD wave analysis for April 13, 2011
http://instaforex.com/userfiles/20110413/EUR_h4.gif
During yesterday’s trading the EUR/USD pair finally tested the 45 figure level and, despite further rollback, demonstrated the intention of the euro to resume the uptrend. In this relation the whole wave situation, developed since March 11, requires certain precision. Given all this, we might suppose that the target for such upside movement might be the levels between 1.4650 and 1.4700. If so, the price might correct, supposedly, from yesterday’s highs, thus indicating the end of the 3rd wave, in the estimated 5th, of the whole uptrend section.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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GBP/JPY Elliott wave count and Fibonacci levels - March 14, 2011
GBP/JPY is developing corrective wave 4 of medium term uptrend - colored royal blue in the chart. Wave 4 has 3 subwaves within it, and subwave C is still developing - colored red in the chart. The targets of the downmove are Fibonacci retracements of 130.18-139.93, 122.49-139.93, and expansions off 139.93-135.62-137.12.
Supports:
- 135.06 = .50 retracement
- 134.46 = contracted objective point (COP)
- 133.90 = .618 retracement
- 133.27 = .382 ret
- etc.
If the price reverses up the immediate resistances will be Fibonacci retracements of 139.93-135.44.
Resistances:
- 137.16 = .382 ret
- 137.69 = .50 ret
- 138.21 = .618 ret
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the medium term is down it's preferable to open short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (right where the prices are - still better would be to wait until the price hits a Fib resistance, e.g. at 137.16).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD Elliott wave count and Fibonacci levels - March 14, 2011
AUD/USD has finished wave 1.0204-1.0580 (wave C of medium term uptrend - colored royal blue in the chart) and now is developing corrective wave 4. Within this wave there are A-B subwaves (colored magenta in the chart) with subwave B still in development. The targets of the upmove are Fibonacci expansions off 1.0389-1.0521-1.0428 and 1.0428-1.0538-1.0457.
Resistances:
- 1.0523 = contracted objective point (COP)
- 1.0560-67 = confluence area of two objective points (OP)
- 1.0635-42 = confluence area of two expanded objective points (XOP)
If the price reverses down the immediate supports will be Fibonacci retracements of 1.0285-1.0580, 1.0204-1.0580, 1.0389-1.0538, and expansions off 1.0580-1.0389-1.0538.
Supports:
- 1.0446 = .618 retracement
- 1.0420 = COP
- 1.0392 = .50 ret
- 1.0348-47 = confluence area of .618 ret and OP
http://instaforex.com/userfiles/2011...-audusd-in.gif
Overbought/Oversold
Assuming that the medium term trend is down, it's preferable to look for shorts when the Detrended Oscillator goes above the zero level (current prices) or gets into the overbought area (right where the price is - that also corresponds to 1.0523 Fib resistance).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com