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Cattle review for April 14, 2011
Futures on cattle grew on Wednesday amid purchases for lowered prices. Earlier futures dropped to their lows for week and a half. By the end of CME trades, April futures on cattle increased by 0.60 cent (0.51%) up to 1.1827 US dollars per pound. June contract closed with a gain of 0.17 cent having thus constituted 1.3302 US dollars per pound.
Futures increased amid weakening US dollar which has been intensifying the expectations of export demand growth, even though import demand showed decrease.
Dropping US dollar makes futures less expensive for those who operate with other currencies.
Another source of support for the market is the growth of prices for lean pork. They rose amid the prospects of seasonal decline in supply.
Market participants consider that futures growth may well continue after last week large-scale sales.
On the other hand, cash prices for beef tend to decrease in mid-April as more meat comes to the market. Prices fall is indispensable for demand to grow. At the same time export sales can support the market. Yet, many traders have been expressing concerns over high wholesale prices possible to have an opposite effects.
These concerns exacerbated shortly after the US Agriculture Department announced the wholesale prices for beef to have grown by 0.43 cent per pound.
http://instaforex.com/userfiles/2011...cture%2011.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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Wheat review for April 14, 2011
By the end of CBOT trades the prices for May futures on wheat declined by 6 ¾ cent (1.7%), by 7.52 ¾ US dollars per bushel. The US meteorological service forecasts precipitations in the region of the Great Plains which improves expectations of the market regarding the quality of winter wheat harvest. However, other regions of wheat cultivation (Texas and Oklahoma) are expected to get less moisture than needed that is why rainless weather will be unfavourable for harvest. Yet, traders’ attention has been focused on the news about rain in Kansas and Nebraska since there are concerns over precipitations in other US states which is to brighten the situation with harvest. Under all these circumstances traders decided to close part of long positions.
Besides, as exports data showed, The Middle East countries continued buying American wheat, in smaller volume though. It exacerbated the concerns over demand decline of demand due to high prices.
http://instaforex.com/userfiles/2011...re%2010(1).png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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EUR/USD wave analysis for April 14, 2011
http://instaforex.com/userfiles/20110414/EUR_h4(1).gif
Yesterday the EUR/USD continued its attempts to form the beginning of a continuous
correction structure in the range of the future estimated 4th wave (in the 5th). At the
same time, by the end of the day the price could not test the estimated correction level
23.6%, which might cause further downside movement directed to the targets below the 44
figure level, or even near the 43. Simultaneously, for a more convincing completion of the
5th wave, the euro price will probably make another attempt to pass the 1.4500 level.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
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NZD/USD Bearish Outlook, April 14, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...andesdolar.gif
NZD/USD
The technical chart of the New Zealand dollar - United States dollar reflects definite
signs of reversal potential of the pair, who endured increases in recent weeks.
But, it is estimated that if the negative sentiment is heightened within that investors
continue impacting the pair to be heading towards the lower support level around 0.7450.
The break of the trendline that accompanies the pair on their way upward a signal
representing the start of a new sequence with a potential downward fall to the important
resistance level of 0.7540.
It is important to note that the MACD indicator mark a negative deviation and support
reversal of the trend.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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SILVER Bearish Outlook, April 14, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110414/platita.gif
SILVER
Its upward trend of the Silver has been stopped by the strong monthly resistance around
41.90 level. And from this level has taken a turn to north this commodity is trading below
its first monthly resistance, therefore a daily close below this level would confirm our
bearish outlook push it around the Pivot Monthly.
The indicator MACD is negative, showing a fall even deeper, with a partial objective
around 36,45(Monthly Pivot) and final goal 31,80. (2st Monthly support)
Performed by Gerardo Porras Palomino, Analytical expert
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The USD/CHF technical analysis and trading recommendations for April 14, 2011
4-hour timeframe
http://instaforex.com/userfiles/20110414/usdchf%204.gif
Overview:
The franc price is still in the downside movement, the formed sell signal is strong and
confirmed, since the Chinkou Span fixated below the price graph and the price is below the
Ichimoku cloud, there are no signs of correction. Thus, at the moment the first target for
the downside movement is 0.8905 – the second support level, as the price managed to pass
the first one. If this level is passed the second target will be the third support level at
0.8750. Downside movement remains while the price is below the Kijun-sen (0.9035), if the
price fixates above this line it is recommended to cut short positions, as the current
signal would weaken. The Chinkou Span is below the price graph, which confirms the current
sell signal and indicates bearish sentiment. The Bollinger bands show the beginning of the
downside movement, the lines are diverging and directed down. The MACD is ascending, which
indicates current correction movement, it is recommended to resume trading down after the
indicator reverses down.
Trading recommendations:
Currently it is recommended to trade down with target at 0.8905 and further to 0.8750. Stop
Loss should be placed above 0.9035. It is recommended to resume trading down after the
indicator reverses down.
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 15, 2011
GBP/JPY is developing corrective wave 4 of medium term uptrend - colored royal blue in the chart. Wave 4 has 2 subwaves within it (A-B), and subwave B is still developing - colored magenta in the chart. The targets of the upmove are Fibonacci retracements of 139.93-135.19, and expansions (if the price goes higher than 139.93) off 122.49-133.04-130.18 (waves 1-2), 130.18-139.93-135.19 (waves 3-4).
Resistances:
- 137.00 = .382 retracement
- 137.56 = .50 ret
- 138.12 = .618 ret
- 140.73 = objective point (OP)
- 141.22 = contracted objective point (COP)
If the price keeps declining the immediates supports will be Fibonacci retracements of 130.18-139.93, 122.49-139.93, and expansions off 139.93-135.19-136.96.
Supports:
- 135.06 = .50 retracement
- 134.03-133.90 = confluence area of COP and .618 retracement
- 133.27 = .382 ret
- 132.22 = OP
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the wave of a larger degree (corrective subwave B) is moving up it's preferable to open long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (10-30 pips).
Performed by Roman Molodiashin, Analytical expert
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AUD/USD Elliott wave count and Fibonacci levels - March 15, 2011
AUD/USD is developing potential wave 5 of medium term uptrend - colored royal blue in the chart. To confirm wave 5 break above 1.0580 is needed. On smaller timeframes this wave consists of A-B-C subwaves (colored magenta in the chart) with subwave C still developing. The targets of the upmove are Fibonacci expansions off 0.9709-1.0313-1.0204 (waves 1-2), 1.0204-1.0580-1.0389 (waves 3-4), 1.0389-1.0538-1.0457 (subwaves A-B).
Resistances:
- 1.0577 = contracted objective point (COP)
- 1.0606 = objective point (OP)
- 1.0621 = COP
- 1.0698 = expanded objective point (XOP)
If the price keeps declining the immediate supports will be Fibonacci retracements of 1.0457-1.0558, 1.0389-1.0558, 1.0204-1.0580.
Supports:
- 1.0508 = .50 retracement
- 1.0496-93 = confluence area of .618 and .382 retracements
- 1.0474 = .50 ret
- 1.0454 = .618 ret
http://instaforex.com/userfiles/2011...-audusd-in.gif
Overbought/Oversold
Assuming that the medium term trend is up (wave of a larger degree is now 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 (20-30 pips below the current prices - this roughly corresponds to 1.0508 Fib support).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
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EUR/USD wave analysis for April 15, 2011
http://instaforex.com/userfiles/20110415/EUR_h4.gif
In general, as expected, during yesterday’s trading the EUR/USD currency pair declined to the correction level 38.2%; afterwards it made an attempt to resume growth by reaching the 45 figure level by the end of the day. Therefore, the price has most likely completed the formation of the 4th wave (in the 5th). If so, then such resumed growth of the price has indicated the beginning of the 5th wave (in the 5th), at the same time targets for this 5th may be located in a quite wide range from the levels located slightly above the 45 figure level and up to the 1.4700 level.
Performed by Alexander Dneprovskiy, Analytical expert
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USD/CAD Bullish Outlook April 15, 2011 (Daily Strategy)
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USD/CAD
You can take advantage of the flight of investors to the United States dollar by taking long position against the U.S. dollar - Canadian dollar.
Technically, the pair has broken its downtrend line, which accompanied him from 15 March. For now, the Canadian price is above its first monthly support,(0.9596) so support our bullish outlook. The MACD indicator shows bullish sign.
The upside potential in this case reaches to high levels of resistance of 1.0200, when in the way can also be found important intermediate levels of 0.9920 and 0.9780 can serve as key points for partial exercise position.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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AUD/USD Bearish Outlook, April 15, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...lianitoooo.gif
AUD/USD
The Australian dollar is the only currency between the major foreign exchange is now in its historic peak above the peaks of the time before the explosion of the crisis in 2008.
The technical picture 4 hours, the Australian dollar has formed a figure technique called triangle, which is already breaking down or up would confirm the great potential it brings
Only a bearish breakdown of the figure of the triangle will serve as a trigger to take a short position, with an ultimate goal 10180 U.S. dollars per Australian dollar.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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AUD/USD Bearish Outlook, April 15, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...lianitoooo.gif
AUD/USD
The Australian dollar is the only currency between the major foreign exchange is now in its historic peak above the peaks of the time before the explosion of the crisis in 2008.
The technical picture 4 hours, the Australian dollar has formed a figure technique called triangle, which is already breaking down or up would confirm the great potential it brings
Only a bearish breakdown of the figure of the triangle will serve as a trigger to take a short position, with an ultimate goal 10180 U.S. dollars per Australian dollar.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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USD/JPY wave analysis for April 15, 2011
http://instaforex.com/userfiles/20110415/JPY_h4.gif
Yesterday the USD/JPY currency pair continued to decline and tested the correction level 50.0% during the European session. At the same time, all downside movement initiated April 6 obtained the characteristics of a five-wave structure. Therefore, we might assume that inner wave structure of the 4th wave will become more complex and prolonged. Simultaneously, we should not eliminate the option supposing the resumption of downside movement of the pair in the direction of the levels located below the 77 figure level.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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The USD/CHF technical analysis and trading recommendations for April 15, 2011
4-hour timeframe
http://instaforex.com/userfiles/20110415/usdchf%204.gif
Overview:
The franc price is still in the downside movement, the formed sell signal is strong and confirmed, since the Chinkou Span fixated below the price graph and the price is below the Ichimoku cloud, there are no signs of correction. Thus, at the moment the first target for the downside movement is 0.8905 – the second support level, as the price managed to pass the first one. If this level is passed the second target will be the third support level at 0.8750. Downside movement remains while the price is below the Kijun-sen (0.9000), if the price fixates above this line it is recommended to cut short positions, as the current signal would weaken. The Chinkou Span is below the price graph, which confirms the current sell signal and indicates bearish sentiment. The Bollinger bands show the beginning of the downside movement, the lines are diverging and directed down. The MACD is ascending, however we do not see any upside movement; the price is steadily declining, thus we can ignore this indicator.
Trading recommendations:
Currently it is recommended to trade down with target at 0.8905 and further to 0.8750. Stop Loss should be placed above 0.9000.
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
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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GBP/JPY Elliott wave count and Fibonacci levels - March 18, 2011
GBP/JPY is developing subwave A (colored royal blue in the chart) within wave B of medium term downtrend - colored light green in the chart. The former wave has A-B-C subwaves of still smaller degree - colored magenta in the chart, and subwave C is still developing. The targets of the downmove are Fibonacci retracements of 130.18-139.93, 122.49-139.93, and expansions off 139.93-135.19-136.96, 136.96-135.53-136.36.
Supports:
- 135.06-134.39 = confluence area of .50 retracement and objective point (OP), already fulfilled
- 134.05-03-133.90 = confluence area of expanded objective point (XOP), contracted objective point (COP) and .618 retracement
- 133.27 = .382 ret
- 132.62 = super expanded objective point (SXOP)
- 132.22 = OP
If the price reverses up the immediate resistances will be Fibonacci retracements of the waves down from 136.57 and from 139.93 - these waves are not developed yet, so we can not get Fib levels from them.
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the wave of a larger degree is moving down it's preferable to open short positions when the Detrended Oscillator gets above the zero level (10-15 pips above the current prices) or into the overbought area (40-50 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 18, 2011
The AUD/USD currency pair is demonstrating growth again aiming to test the resistance level at 1.0600. If it is broken, we should expect a growth to 1.0650.
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 1.0500 resistance level targeted the pair to 1.0600.
As mentioned before, if the support level 1.0400 is broken, long positions should be closed as it will cause a decline to 1.0300.
http://instaforex.com/userfiles/2011...icture%202.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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NZD/USD candlestick analysis for March 18, 2011
The NZD/USD currency pair is rolling back slightly after refreshing a 3-year high at 0.8006. Nevertheless, the pair is still trading in the uptrend.
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 0.7750, since its break will allow the pair to reach 0.7660.
http://instaforex.com/userfiles/2011...icture%203.png
Performed by Vladimir Donin, Analytical expert
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GBP/USD wave analysis. Week review.
http://instaforex.com/userfiles/20110418/GBP_d.gif
After another testing of the 64 figure level the GBP/USD started to form the wave structure
of the estimated 2nd wave in the future 3rd (or C). If so, the 2nd wave does not look
complete at the moment, which allows a possibility of a decline to the 1.6175 level or
lower. At the same time, general dollar situation extremely overbought indicators require
being careful when keeping long positions.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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USD/CHF wave analysis for April 18, 2011
http://instaforex.com/userfiles/20110418/CHF_h4.gif
Last day of the week the USD/CHF currency pair was trading in a quite narrow price range
near the 0.8920 level. At the same time, the price almost finished to form the estimated
3rd wave (in the 3rd) of the whole downtrend section of the main trend. If so, the currency
pair might start moving from the reached lows (in the range of the future 4th wave) in the
short term. The formed MACD divergence proves this.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
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USD/CAD candlestick analysis for March 19, 2011
Support levels: 0.9500, 0.9450, 0.9400
Resistance levels: 0.9750, 0.9840, 0.9972
In the 4-hour graph the USD/CAD is rolling back after refreshing multi-year lows. The USD/CAD has probably formed a short-term bottom at 0.9529. However, the rollback might be limited near the resistance level 0.9750, where Fibonacci correction level 50.0 is also located.
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/20110419/USD_CAD.png
Performed by Vladimir Donin, Analytical expert
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AUD/USD Elliott wave count and Fibonacci levels - March 19, 2011
The AUD/USD currency pair is rolling back after another unsuccessful attempt to break the resistance level at 1.0600. Nevertheless, if it is broken, we should expect a growth to 1.0650.
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 1.0500 resistance level targeted the pair to 1.0600.
As mentioned before, if the support level 1.0400 is broken, long positions should be closed as it will cause a decline to 1.0300.
http://instaforex.com/userfiles/20110419/AUD_USD.png
Performed by Vladimir Donin, Analytical expert
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NZD/USD candlestick analysis for March 19, 2011
The NZD/USD currency pair is rolling back slightly after refreshing a 3-year high at 0.8006. Nevertheless, the pair is still trading in the uptrend.
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 0.7750, since its break will allow the pair to reach 0.7660.
http://instaforex.com/userfiles/20110419/NZD_USD.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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Silver review for April 19, 2011
On Monday futures on silver closed at their 31-year high as demand of investors for harbor assets grew after Standard & Poor’s published a negative forecast regarding the US rating.
The prices for silver rose up to USD 42.940 (a high for 31 years) after S&P lowered its forecast over the US rating from stable down to negative. Investors’ demand for currency alternative and an instrument of hedging against economic uncertainty have supported silver futures.
The quotations of April silver futures on COMEX grew by 0.9% (39.1 cent) by the end of trades and thus constituted USD 42.957 per ounce. The intraday high was much lower than that registered on January 18, 1980 – 50.360.
May futures on silver trading more actively, grew by 38.5 cent (by 0.9%) up to a record high of USD 42.956. Yet it is less than the intraday high of USD 43.560 per ounce.
Market participants say that the prices for precious metals are likely to continue increasing amid resumed demand for harbor assets and intensifying concerns over the European sovereign debt.
The market is more and more ruffled by talks about Greece not likely to fulfill its debt settling obligations regardless of the assistance rendered by the EU and IMF. These concerns have exacerbated due to rumours according to which no supplementary aid will be provided which is to make investors buy harbor assets amid increasing uncertainty.
http://instaforex.com/userfiles/2011...icture%203.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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EUR/USD candlestick analysis for March 19, 2011
EUR/USD pair is rolling back after it could not break the resistance level 1.4520.
Nevertheless, it is still trading in an uptrend after it 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 upside movement to the resistance level 1.4278.
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/20110419/EUR_USD.png
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GBP/AUD Bullish Outlook April 12, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...ustraliano.gif
GBP/AUD
The pair British pound - Australian Dollar is the most time in negative correlation with
financial markets, so when the markets go down the pair has a clear tendency to rise and
vice versa. And indeed, the bearish wave that gripped markets recently provided support to
the pound - that Australian dollar reversed direction and for the first time in a long time
began to climb upward.
For now the pair has met with strong resistance around 1.5575; the break of this level
serve as a trigger to take a bullish position that will lead you back to the levels of
1.6100 or even 1.6500.
The MACD indicator, is showing signs of an upward trend even higher.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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CHF/JPY Bearish Outlook, April 14, 2011 (Weekly Strategy)
http://instaforex.com/userfiles/2011...anco%20yen.gif
CHF/JPY
After an impressive upwards movement that led the Swiss Frank – Japanese Yen pair to the
93.94 high, we can predict a reversal of the positive trend and move to a wave of downwards
movement, especially due to the fact the pair has failed twice to breach the major
resistance level at 94.00. That said, the WEEKLY graph on the pair shows that the 88.60
strong support level is closing in on the pair from below.
The final goal for the expected downwards movement is positioned only at 88.60, the pair is
expected to meet the secondary weekly support level around 90.00, which will serve as a
test on its way down.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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USD/JPY wave analysis for April 19, 2011
http://instaforex.com/userfiles/20110419/JPY_h4.gif
Yesterday the USD/JPY continued to decline slowly and stopped near the 82 figure later in
the day. As a result of the continuing decline, the price forms extensions in the complex
wave structure of the estimated correction wave a, or in the 1st wave of the future new
downtrend section. At the same time, given the inner dimension of this 1st wave (or a) we
might allow a possibility of its soon completion, which is supported by the MACD
divergence.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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USD/CHF wave analysis for April 19, 2011
http://instaforex.com/userfiles/20110419/CHF_h4.gif
During the whole previous day the USD/CHF was making attempts to finish the formation of
inner wave structure of the 3rd wave, of the whole downside section initiated in early
April. At the same time, given the possibility of the 5th wave in this 3rd to be truncated,
we might suppose it will be completed near the 89 figure level. If so, we might expect
yesterday’s upside movement to develop to the levels of 90 or 91 figures.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
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GBP/JPY Elliott wave count and Fibonacci levels - April 20, 2011
GBP/JPY is moving in correction to medium term downtrend. Now we have corrective subwave B (colored red in the chart) within impulse wave C of medium term downtrend - colored magenta in the chart.
Now, the immediate resistances are Fibonacci retracements of 136.36-139.90, 139.93-132.90, and expansions off 132.90-134.43-133.68, 133.68-134.75-134.07.
Resistances:
- 135.41 = .618 retracement
- 135.80 = expanded objective point (XOP)
- 136.16 = XOP
- 136.42 = .50 retracement
- 136.87 = super expanded objective point (SXOP)
- 137.24 = .618 ret
- 137.69 = SXOP
If the downtrend resumes the immediate supports will be Fibonacci retracements of the wave up from 132.90 - this wave is not developed yet.
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the wave of a larger degree is moving up it's preferable to open long positions when the Detrended Oscillator gets below the zero level (20-30 pips below the current prices) or into the oversold area (55-75 pips below the current prices).
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD candlestick analysis for March 20, 2011
The AUD/USD currency pair is testing the resistance level 1.0600. If it is broken, we should expect a growth to 1.0650.
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 1.0500 resistance level targeted the pair to 1.0600.
As mentioned before, if the support level 1.0400 is broken, long positions should be closed as it will cause a decline to 1.0300.
http://instaforex.com/userfiles/20110420/AUD_USD.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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NZD/USD candlestick analysis for March 20, 2011
The NZD/USD currency pair is demonstrating upside movement after a rollback. Break of the resistance level 0.8000 will target the pair to 0.8050.
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 0.7823, since its break will allow the pair to reach 0.7740.
http://instaforex.com/userfiles/20110420/NZD_USD.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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USD/CAD technical analysis for April 20, 2011
Support levels: 0.9500, 0.9450, 0.9400
Resistance levels: 0.9750, 0.9840, 0.9972
In the 4-hour graph the USD/CAD is demonstrating downside movement to multi-year lows. 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/20110420/USD_CAD.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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EUR/USD candlestick analysis for March 20, 2011
EUR/USD pair is trading up with a target to test the resistance level 1.4520 after a rollback.
It is still trading in an uptrend after it 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 upside movement to the resistance level 1.4278.
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/20110420/EUR_USD.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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CRUDE OIL Bullish Outlook April 20, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110420/petroleo.gif
Crude Oil
The economic Instability will continue Supporting the price of black gold, There exists a
serious chance that the price of crude oil continues raising its price, Proof of this is
that a barrel of oil now being negotiated 109.10 dollars, and that for six day crude oil
price to attempt to drill the important support of 105.50.
In the graph we can see that now the price of oil, is above the pivot weekly, So it have
clean way down to the level of resistance of 113.00 dollars, will be our first objective,
and as our ultimate goal to 117 dollars a barrel oil
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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GOLD Technical Correction, April 20, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110420/oro.gif
GOLD
Today, gold has made ‹‹a maximum in 1503 dollars per ounce its maximum recorded so far, We
think that gold will even still some way to go maybe to 1700 or up to 2000 dollars a troy
ounce, now there is much uncertainty in the market gold is becoming the favorite to find
refuges and to diversify into other investments.
If we look at our chart, can see that gold has been an upward trend, the secondary trend
line, is overbought, so expect a potential correction, A close in 4 hours candle below the
price of $ 1500.00
it would be an indication to sell to the weekly Pivot line around 1460.00
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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AUD/USD Elliott wave count and Fibonacci levels - April 21, 2011
AUD/USD is developing subwave C (colored royal blue in the chart) within impulse wave C of medium term uptrend - colored light green in the chart. The former subwave also has waves of smaller degree - colored orange red in the chart, subwave C is still developing. The immediate resistances are Fibonacci expansions off 0.9709-1.0580-1.0389, 1.0389-1.0578-1.0442, 1.0442-1.0691-1.0648, 1.0648-1.0719-1.0676.
Resistances:
- 1.0791-1.0802 = confluence area of expanded objective point (XOP) and contracted objective point (COP)
- 1.0862 = super expanded objective point (SXOP)
- 1.0897 = objective point (OP)
- 1.0927-37 = confluence area of COP and SXOP
If the price reverses down the immediate supports will be Fibonacci retracements of the wave up from 1.0442 - 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 (25-30 pips below the current prices) or gets into the oversold area (35-45 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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NZD/USD candlestick analysis for March 21, 2011
The NZD/USD currency pair is demonstrating upside movement after a rollback. Break of the resistance level 0.8000 will target the pair to 0.8050.
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 0.7823, since its break will allow the pair to reach 0.7740.
http://instaforex.com/userfiles/2011...cture%2010.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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GBP/JPY Elliott wave count and Fibonacci levels - April 21, 2011
GBP/JPY is developing potential impulse subwave C (colored red in the chart) within impulse wave C of medium term downtrend (colored magenta in the chart). To confirm subwave C break below 132.90 is needed. The immediate supports now are Fibonacci retracements of 132.90-135.73, 122.49-139.93, and expansions off 139.93-135.19-136.96, 136.96-132.90-135.73, 135.73-134.66-135.48.
Supports:
- 134.41-31 = confluence area of objective point (OP) and .50 retracement
- 134.03-133.98 = confluence area of contracted objective point (COP) and .618 ret
- 133.75 = expanded objective point (XOP)
- 133.22 = COP
- 132.68 = super expanded objective point (SXOP)
- 132.22 = OP
- etc.
If the price reverses up and goes above 135.73 the immediate resistances will be Fibonacci retracements of 139.93-132.90, and expansions off 132.90-135.73-134.66.
Resistances:
- 136.41-42 = confluence area of COP and .50 ret
- 137.24 = .618 ret
- 137.49 = OP
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the wave of a larger degree is moving down it's preferable to open short positions when the Detrended Oscillator gets above the zero level (5-10 pips above the current prices) or into the overbought area (40-55 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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USD/JPY wave analysis for April 21, 2011
http://instaforex.com/userfiles/20110421/JPY_h4.gif
During yesterday’s trading the USD/JPY currency pair was trading in a narrow price range,
which nevertheless allowed it to indicate the completion of the 4th wave in the estimated
5th, of the whole downtrend section developed since April 6. At the same time, later in the
day the yen made an attempt to resume downside movement in the direction of the probable
target level located near the 82.15 level. If so, we cannot eliminate the chance of further
beginning of a continuous return of the price to the levels of the 84 figure.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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EUR/USD wave analysis for April 21, 2011
http://instaforex.com/userfiles/20110421/EUR_h4.gif
Yesterday the EUR/USD currency pair was trading dynamically in favour of the European
currency, which in its turn allowed the price to test the 45 figure level. At the same
time, the 3rd wave of this new uptrend section became quite prolonged in relation to its
1st wave. Given this, we might suppose that the euro can continue growth in the direction
of the estimated target level located near the 1.4620 level.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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The EUR/USD technical analysis and trading recommendations for April 21, 2011
4-hour timeframe
http://instaforex.com/userfiles/20110421/eurusd%204.gif
Overview:
The euro is still in upside movement, and as a result a new buy signal with target level
1.4826 was formed,the price also managed to pass 2 resistance levels. The formed buy signal
is strong and confirmed, since the Chinkou Span fixated above the price graph and the price
is above the Ichimoku cloud. Thus, at the moment the first target for the upside movement
is 1.4668 – the third resistance level, as the previous two were passed. If this level is
passed the second target will be the resistance level of the bigger timeframe at 1.4852.
Upside movement remains while the price is above the Kijun-sen (1.4385), 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 the continuing upside movement, the lines are diverging and directed
up. The MACD is ascending, which indicates current upside movement, if the MACD reverses to
the downside it will denote the beginning of a correction.
Trading recommendations:
Currently it is recommended to trade up with target at 1.4668 and further to 1.4852. Stop
Loss should be placed below 1.4385 and stretch it up as the Kijun-sen advances. If the MACD
reverses to the downside, 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
InstaForex Companies Group © 2007-2011
More analysis - at
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AUD/USD Elliott wave count and Fibonacci levels - April 22, 2011
AUD/USD is developing subwave C (colored royal blue in the chart) within impulse wave C of medium term uptrend - colored light green in the chart. The former subwave also has waves of smaller degree - colored orange red in the chart, subwave B is still developing. The immediate supports are Fibonacci retracements of 1.0442-1.0774, 1.0648-1.0774, and expansions off 1.0774-1.0726-1.0755.
Supports:
- 1.0711-07 = confluence area of .50 retracement and objective point (OP)
- 1.0697 = .618 ret
- 1.0677 = expanded objective point (XOP)
- 1.0647 = .382 ret
- 1.0629 = super expanded objective point (SXOP)
- 1.0608 = .50 ret
- 1.0659 = .618 ret
If the price breaks above 1.0774 to continue the uptrend the immediate resistances will be Fibonacci expansions off 0.9709-1.0580-1.0389, 1.0389-1.0578-1.0442.
Resistances:
- 1.0927-37 = confluence area of COP and SXOP
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 (current prices as well).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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GBP/JPY Elliott wave count and Fibonacci levels - April 22, 2011
GBP/JPY is developing subwave C (colored red in the chart) within corrective wave B of medium term downtrend - colored royal blue in the chart. The targets above the current price are Fibonacci retracements off 139.93-132.90, and expansions off 132.90-135.73-134.61.
Resistances:
- 136.36-42 = confluence area of contracted objective point (COP) and .50 retracement
- 137.24 = .618 ret
- 137.44 = objective point (OP)
If the price keeps declining the immediate supports will be Fibonacci retracements of 132.90-135.87.
Supports:
- 134.74 = .382 ret
- 134.38 = .50 ret
- 134.03 = .618 ret
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the wave of a larger degree is moving up it's preferable to open long positions when the Detrended Oscillator gets below the zero level (10-15 pips below the current prices) or into the oversold area (30-40 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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GBP/USD technical analysis for April 22, 2011
Earlier in a 4-hour graph the GBP/USD formed a Bearish Engulfing candlestick combination, which indicates a downside movement.
This candlestick combination formed after the pair had failed to break the resistance level near 1.6600, which means that the bulls could not solidify here. Further the bears started to increase their influence.
A break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.6164, 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 1.6600 level, since a break of this level will target the pair to 1.6750.
http://instaforex.com/userfiles/2011...cture%2015.png
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 22, 2011
EUR/USD pair has successfully broken the resistance level near 1.4577. As mentioned before, its break will target the pair to 1.4800.
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 upside movement to the resistance level 1.4278.
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%2013.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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NZD/USD candlestick analysis for March 22, 2011
The NZD/USD currency pair is demonstrating upside movement after a rollback. Break of the resistance level 0.8000 targeted the pair to 0.8050.
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 0.7823, since its break will allow the pair to reach 0.7740.
http://instaforex.com/userfiles/2011...cture%2012.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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GBP/USD wave analysis for April 22, 2011
http://instaforex.com/userfiles/20110422/GBP_h4.gif
During yesterday’s trading the GBP/USD continued a quite dynamic upside movement and tested
the 1.6590 level later in the day. Therefore, the 1st wave in the future 3rd in general
looks complete, and the decline indicated by the end of the trading is probably the
beginning of the 2nd wave in this estimated 3rd. At the same time, given the current
dynamics, the pound price is still able to form the 5th wave, in the 1st (in the 3rd) with
a more complex inner structure.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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The EUR/USD technical analysis and trading recommendations for April 22, 2011
4-hour timeframe
http://instaforex.com/userfiles/20110422/eurusd%204.gif
Overview:
The euro is still in upside movement and observing the buy signal with target level 1.4826,
we should also mention a slight correction. The formed buy signal is strong and confirmed,
since the Chinkou Span fixated above the price graph and the price is above the Ichimoku
cloud. Thus, at the moment the first target for the upside movement is 1.4668 – the third
resistance level, as the previous two were passed. If this level is passed the second
target will be the resistance level of the bigger timeframe at 1.4852. Upside movement
remains while the price is above the Kijun-sen (1.4400), 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 the continuing upside movement, the lines are diverging and directed up. The MACD is
descending, which indicates current correction movement, therefore it is recommended to
resume upside trading after it reverses back to the upside.
Trading recommendations:
Currently it is recommended to trade up with target at 1.4668 and further to 1.4852. Stop
Loss should be placed below 1.4400 and stretch it up as the Kijun-sen advances. Open long
positions after the MACD reverses back to the upside.
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
InstaForex Companies Group © 2007-2011
More analysis - at
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-
GBP/JPY Elliott wave count and Fibonacci levels - April 25, 2011
GBP/JPY is developing subwave C (colored red in the chart) within corrective wave B of medium term downtrend - colored royal blue in the chart. The targets above the current price are Fibonacci retracements off 139.93-132.90, and expansions off 132.90-135.73-134.61, 134.61-135.87-134.71, 134.71-135.67-135.01.
Resistances:
- 135.97 = confluence area of two objective points (OP)
- 136.36-42 = confluence area of contracted objective point (COP) and .50 retracement
- 136.56 = expanded objective point (XOP)
- 136.75 = XOP
- 137.24 = .618 ret
- 137.44 = objective point (OP)
- 137.52 = super expanded objective point (SXOP)
- 138.91 = SXOP
If the price reverses down the immediate supports will be Fibonacci retracements of 132.90-135.87.
Supports:
- 134.74 = .382 ret
- 134.38 = .50 ret
- 134.03 = .618 ret
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the wave of a larger degree is moving up it's preferable to open long positions when the Detrended Oscillator gets below the zero level (10-15 pips below the current prices) or into the oversold area (30-40 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
-
AUD/USD Elliott wave count and Fibonacci levels - April 25, 2011
AUD/USD is moving within corrective subwave B (colored magenta in the chart) that is part of impulse wave C of medium term uptrend - colored royal blue in the chart. The targets of the downmove are Fibonacci retracements of 1.0442-1.0775.
Supports:
- 1.0648 = .382 retracement
- 1.0608 = .50 ret
- 1.0569 = .618 ret
If the uptrend resumes and the price breaks above 1.0775 the immediate resistances will be Fibonacci expansions off 0.9709-1.0580-1.0389, 1.0389-1.0578-1.0442.
Resistances:
- 1.0927-37 = confluence area of COP and SXOP
http://instaforex.com/userfiles/2011...-audusd-in.gif
Overbought/Oversold
Assuming that the medium term trend is up and current wave is corrective it's preferable to stand aside or try 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 above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
-
NZD/USD candlestick analysis for March 25, 2011
The NZD/USD currency pair is demonstrating upside movement after a rollback. Break of the resistance level 0.8000 targeted the pair to 0.8050.
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 0.7823, since its break will allow the pair to reach 0.7740.
http://instaforex.com/userfiles/20110424/NZD_USD.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
-
GBP/USD technical analysis for April 25, 2011
Earlier in a 4-hour graph the GBP/USD formed a Bearish Engulfing candlestick combination, which indicates a downside movement.
This candlestick combination formed after the pair had failed to break the resistance level near 1.6600, which means that the bulls could not solidify here. Further the bears started to increase their influence.
A break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.6164, 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 1.6600 level, since a break of this level will target the pair to 1.6750.
http://instaforex.com/userfiles/20110424/GBP_USD.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
-
EUR/USD candlestick analysis for March 25, 2011
EUR/USD pair has successfully broken the resistance level near 1.4577 to take a break further. As mentioned before, its break will target the pair to 1.4800.
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 upside movement to the resistance level 1.4278.
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/20110424/EUR_USD.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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USD/JPY. Weekly and Monthly Pivot Points, For April 24-29, 2011
_____WEEKLY_____
Weekly - R3 = 84.56
Weekly - R2 = 83.92
Weekly - R1 = 82.91
Weekly Pivot = 82.28
Weekly - S1 = 81.26
Weekly - S2 = 80.62
Weekly - S3 = 79.61
http://instaforex.com/userfiles/2011...semanal(2).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...mensual(1).gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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EUR/USD. Weekly and Monthly Pivot Points, For April 24-29, 2011
____WEEKLY_____
Weekly - R3 = 1.5251
Weekly - R2 = 1.4950
Weekly - R1 = 1.4755
Weekly Pivot = 1.4454
Weekly - S1 = 1.4259
Weekly - S2 = 1.3958
Weekly - S3 = 1.3763
http://instaforex.com/userfiles/20110424/eursema.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/20110424/eurwee.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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AUD/USD. Weekly and Monthly Pivot Points, For April 24-29, 2011
_____WEEKLY_____
Weekly - R3 = 1.1190
Weekly - R2 = 1.0982
Weekly - R1 = 1.0858
Weekly Pivot = 1.0650
Weekly - S1 = 1.0526
Weekly - S2 = 1.0318
Weekly - S3 = 1.0194
http://instaforex.com/userfiles/20110424/audsemanal.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/20110424/audmensual.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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GBP/USD. Weekly and Monthly Pivot Points, For April 24-29, 2011
_____WEEKLY____
Weekly - R3 = 1.7116
Weekly - R2 = 1.6857
Weekly - R1 = 1.6683
Weekly Pivot = 1.6424
Weekly - S1 = 1.6250
Weekly - S2 = 1.5991
Weekly - S3 = 1.5817
http://instaforex.com/userfiles/20110424/gbpsemanal.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/20110424/gbpmensual.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com