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GBP/USD. Weekly and Monthly Pivot Points for January 30 - February 3, 2012
The pivot point (PPV) is a support/resistance level. It considers the largest price movement that can occur within a particular price. The pivot points are used in many ways, but generally they help to determine the overall market trend and to identify entry and exit levels.
The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help in identifying the possible points of entry and exit. It is recommended to use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be informed befo*****d about the market fluctuations namely the rebound of the market or the change of a trend.
If you have a trading strategy system, the levels of pivots can help you to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.
_____WEEKLY____
Weekly - R3 = 1.6028
Weekly - R2 = 1.5884
Weekly - R1 = 1.5805
Weekly Pivot = 1.5661
Weekly - S1 = 1.5582
Weekly - S2 = 1.5438
Weekly - S3 = 1.5359
_____MONTHLY____
Monthly - R3 = 1.6163
Monthly - R2 = 1.5968
Monthly - R1 = 1.5751
Monthly Pivot = 1.555
Monthly - S1 = 1.5374
Monthly - S2 = 1.5046
Monthly - S3 = 1.4668
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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EUR/USD Weekly and Monthly Pivot Points for January 30 - February 3, 2012
The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.
The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be given a notification befo*****d concerning the market fluctuations as a rebound of the market or change of a trend.
If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.
____WEEKLY_____
Weekly - R3 = 1.3704
Weekly - R2 = 1.3468
Weekly - R1 = 1.3344
Weekly Pivot = 1.3108
Weekly - S1 = 1.2984
Weekly - S2 = 1.2748
Weekly - S3 = 1.2624
____MONTHLY______
Monthly - R3 = 1.4066
Monthly - R2 = 1.3808
Monthly - R1 = 1.3374
Monthly Pivot = 1.3116
Monthly - S1 = 1.2682
Monthly - S2 = 1.2424
Monthly - S3 = 1.1990
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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USD/CAD. Weekly and Monthly Pivot Points, for January 30 - February 3, 2012
The pivot point (PPV) is a support/resistance level. It considers the largest price movement that can occur in a particular price. The pivot points are used in many ways, but generally are used to determine the overall market trend and to identify entry and exit levels.
In the charts of the weekly and monthly pivots they can be used as a plan for trading on Forex as it helps to identify possible points of entry and exit. It is recommended to use this tool, pivot points with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be informed befo*****d about the market fluctuations namely the rebound of the market or the change of a trend.
If you have a trading strategy system, the levels of pivots can help you to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.
____WEEKLY_____
Weekly - R3 = 1.0303
Weekly - R2 = 1.0232
Weekly - R1 = 1.0124
Weekly Pivot = 1.0053
Weekly - S1 = 0.9945
Weekly - S2 = 0.9874
Weekly - S3 = 0.9766
____MONTHLY______
Monthly - R3 = 1.0773
Monthly - R2 = 1.0598
Monthly - R1 = 1.0401
Monthly Pivot = 1.0226
Monthly - S1 = 1.0029
Monthly - S2 = 0.9854
Monthly - S3 = 0.9657
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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GBP/JPY Elliott wave count and Fibonacci levels for January 31, 2011
GBP/JPY reversed to the downside from 121.98 to develop corrective wave B of medium term uptrend. This wave is colored magenta in the chart, and is part of impulse wave A of a larger degree that is developing from 117.22.
As of now the corrective wave has five subwaves (colored orange red in the chart), and potential corrective wave A is developing against the five waves from 119.53.
Now the targets of the downmove are Fibonacci retracements of 117.22-121.98, and expansions off 121.81-119.95-120.67.
Supports:
- 119.52 = contracted objective point (COP)
- 119.04 = .618 retracement
- 118.81 = objective point (OP)
- 117.66 = expanded objective point (XOP)
However if the price reverses to the upside the immediate resistances will be Fibonacci retracements of 121.98-119.53, 127.25-117.22, and expansions off 117.22-121.98-119.53.
Resistances:
- 120.47 = .382 retracement
- 120.76 = .50 ret
- 121.04 = .618 ret
- 122.24 = .50 ret
- 122.47 = COP
- 123.42 = .618 ret
http://forex-images.instaforex.com/u...1-02-gj-en.gif
Overbought/Oversold
The bigger wave is now moving down, therefore it's preferable to try short positions when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (15-20 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-201225
More analysis - at instaforex.com
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AUD/USD Elliott wave count and Fibonacci levels for January 31, 2011
AUD/USD has finished corrective subwave B (colored red in the chart) at 1.0525 (.618 retracement of subwave A), and now is developing potential impulse subwave C that is part of impulse wave C of a larger degree (colored magenta in the chart) that started from 1.0427.
Now the targets above the current price are Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0573-1.0427, 1.0427-1.0687-1.0525.
Resistances:
- 1.0686 = contracted objective point (COP)
- 1.0769 = objective point (OP)
- 1.0785 = OP
- 1.0838 = SXOP
However if the price reverses down for a corrective wave of larger degree the immediate supports will be Fibonacci retracements of 1.0427-1.0687, 1.0231-1.0687.
Supports:
- 1.0526 = .618 retracement
- 1.0513 = .382 ret
- 1.0459 = .50 ret
- 1.0405 = .618 ret
http://forex-images.instaforex.com/u...1-01-au-en.gif
Overbought/Oversold
The larger wave is still moving up, so it's prefereable to open longs when the Detrended Oscillator goes below the zero level (5-10 pips below the current prices) or into the oversold area (30-45 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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Fundamental Analysis for January 31, 2012
After another summit 25 European countries made a decision to sign a new fiscal pact. According to this agreement the countries pledge not to spend money in the future.
The statement is not controversial: at least it is clear that there will be no overspendings so far. The commitment of the 3% deficit to GDP, signed at the time, has not found any support.
On the other hand, do these principles mean that the past is no more taking into account? No more spending from now, reasonable decisions and discipline. But who is going to pay for this?
While leaders participate in meetings and discussions approving the treaties that are quite similar, the unemployment rate reaches over 23 million.
There are countries on the brink of bankruptcy that is expected to occur in less than 60 days. But that is not the appropriate topic for discussion.
During the Monday's trading session the situation did not changed much except a very slight recovery of the dollar. The Wall Street shares (the main at least) hardly moved and reached the new low.
In this regard, the Tuesday’s European session was opened with remarkable results. Surprisingly, German retail sales fell 1.4%, which is the key event of the day as Germany is considered the engine of the continent. Therefore, this fact was the reason for significant concerns.
All these facts indicate the high probability of recession in Europe. Germany remains the only country that will avoid this.
Nevertheless, the euro zone again exceeds 1.32 in these times. The main stock exchanges, namely in Frankfurt, London and in Paris, represented by the DAX 30, FTSE 100 and DAX 30 are experiencing the ascending movement and can be considered a hope for some period of time.
On Tuesday the British pound and the euro have slightly increased along with the consumer confidence index in Britain, while the Swiss franc, faithful follower of the euro, also closed the deals at its monthly maximum.
It is necessary to mention that the most of the currencies initiated the upward movement during these last hours of the month, having closed at the same highs that do not correspond with the economic situation of their countries.
Generally, the Chicago PMI at 9:45 ET and the consumer confidence index released by the Conference Board at 10:00 ET is the crucial data for the American session.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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GBP/JPY Elliott wave count and Fibonacci levels for February 1, 2011
GBP/JPY reversed to the downside from 121.98 to develop corrective wave B of medium term uptrend (colored magenta in the chart). This wave has two subwaves (colored red in the chart) with subwave B still developing from 119.53. The targets of the upmove are Fibonacci retracements of 121.98-119.53, 127.25-117.22, and expansions off 117.22-121.98-119.53.
Resistances:
- 120.76 = .50 ret
- 121.04 = .618 ret
- 122.24 = .50 ret
- 122.47 = contracted objective point (COP)
If the price breaks below 119.53 to continue the downtrend the immediate supports will be Fibonacci retracements of 117.22-121.98, and expansions off 121.98-119.53-120.57.
Supports:
- 119.06-04 = confluence area of COP and .618 retracement
- 118.12 = objective point (OP)
http://forex-images.instaforex.com/u...1-02-gj-en.gif
Overbought/Oversold
The bigger wave is now moving down, therefore it's preferable to try short positions when the Detrended Oscillator goes above the zero level (5-10 pips above the current prices) or into the overbought area (25-35 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-201225
More analysis - at instaforex.com
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AUD/USD Elliott wave count and Fibonacci levels for February 1, 2011
AUD/USD has finished the whole wave from 1.0231 to 1.0687, according to wave count it is impulse wave 3 (colored royal blue in the chart), and now potential corrective wave 4 is developing against the uptrend from 1.0687. Within this wave we have three subwaves (colored red in the chart) - A, B, and potential C. Subwave C will be confirmed when the price breaks below 1.0525 - top of subwave A.
Now the targets below are Fibonacci retracements of 1.0231-1.0687, and expansions off 1.0687-1.0525-1.0684.
Supports:
- 1.0522 = objective point (OP)
- 1.0513 = .382 retracement
- 1.0459 = .50 ret
- 1.0422 = expanded objective point (XOP)
- 1.0405 = .618 ret
However if the price breaks above 1.0687 to continue the uptrend the immediate resistances will be Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0687-1.0525.
Resistances:
- 1.0807 = contracted objective point (COP)
- 1.0838 = super expanded objective point (SXOP)
- 1.0981 = OP
http://forex-images.instaforex.com/u...1-01-au-en.gif
Overbought/Oversold
The larger wave is now moving down, so it's prefereable to open short positions when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (35-50 pips above the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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GBP/JPY Elliott wave count and Fibonacci levels for February 2, 2011
GBP/JPY has just developed corrective wave B of medium term uptrend (colored magenta in the chart), and now potential impulse wave C is developing from 119.53.
The targets above are Fibonacci retracements of 121.98-119.53, 127.25-117.22, and expansions off 117.22-121.98-119.53.
Resistances:
- 121.04 = .618 ret
- 122.24 = .50 ret
- 122.47 = contracted objective point (COP)
- 123.42 = .618 ret
However, if the downmove continues the immediate supports will be Fibnoacci retracements of 117.22-121.98, and expansions off 121.98-119.53-120.92.
Supports:
- 119.41 = COP
- 119.04 = .618 ret
- 118.47 = objective point (OP)
http://forex-images.instaforex.com/u...2-02-gj-en.gif
Overbought/Oversold
The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator goes below the zero level (10-15 pips below the current prices) or into the oversold area (25-40 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-201225
More analysis - at instaforex.com
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AUD/USD Elliott wave count and Fibonacci levels for February 2, 2011
AUD/USD broke above 1.0687 to continue the uptrend. Therefore corrective wave 4 (1.0687-1.0525 - colored royal blue in the chart) is over and now we have wave 5 that is developing from 1.0525. Inside this wave there are A, B and C subwaves (colored red in the chart), and subwave C is still developing from 1.0569.
The targets of the upmove are Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0687-1.0525, 1.0525-1.0684-1.0569.
Resistances:
- 1.0807 = contracted objective point (COP)
- 1.0826 = expanded objective point (XOP)
- 1.0838 = super expanded objective point (SXOP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 1.0525-1.0756.
Supports:
- 1.0668 = .382 retracement
- 1.0640 = .50 ret
- 1.0613 = .618 ret
http://forex-images.instaforex.com/u...2-01-au-en.gif
Overbought/Oversold
The larger wave is now moving up, so it's prefereable to open long positions when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (20-35 pips below the current prices), watch for possibilities going short at or near the indicated supports.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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Fundamental Analysis, February 02, 2012
The debt situation in Greece has reached its deadlock even from an optimistic point of view, considering that some investors worry about the future of the euro.
According to the data released by ADP, the number of jobs created across the Atlantic region was lower than expected, but still significantly higher than in previous months.
Friday will become a real trial, as the employment data released by the Labor Department caused significant movements in the USD pairs movement.
With the respective European currencies we can observe the moderate upward trends. Presently the yen stands in the focus as it is approaching again the record high against the dollar. As the Bank of Japan stated before, it will not intervene in the exchange rate or take some emergency measure that prove to be ineffective over time with little impact in early hours.
It is necessary to mention the decreased oil prices. WTI barrel is lower than $ 100 and is trading at 96.83 at the moment. But there is no significant impact on their currencies, namely the Canadian dollar and Mexican peso.
Meanwhile, Gold remains above $ 1740 per ounce, which in turn initiates the upward movemen of the Australian dollar approaching the area of the 1.07 level.
Concerning the time of news release, the weekly unemployment requests, which will be announced at 8:30 EST and the presentation of the Fed Chairman Ben Bernanke in Congress at 10:00, will be the key events for Thursday’s U.S. trading session.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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EUR/USD Bearish Outlook for February 2, 2012 (Daily Strategy)
http://forex-images.instaforex.com/u...february02.gif
EUR/USD
The EUR/USD pair is trading at 1.3108 level indicating an upward trend. It remains in the overbuy zone despite the short-term uptrend breakdown. The weekly pivot line and the moving average of 50 periods are considered the support levels. At these levels SELL-deals are recommended. Otherwise it will be possible to wait until the end of the week: if the pair continues the ascending movement, we can enter the market and gain a profit by making the short-term deals till the second weekly pivot 1.2748 is reached.
On the other hand, the Momentum indicator is in overbought area indicating the bearish signals.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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Fundamental Analysis for February 3, 2012
The recovery of the U.S. economy on Friday has a litmus test in its most sensitive variable: the creation of jobs during the month of January.
According to previous estimates, is expected to have generated about 150,000 jobs last month, a figure much lower than in December, which in any case is subject to revision.
This fact remains, despite its ups and downs, the most important of the month, and takes effect during the coming weeks. The rate of unemployment, which President Obama obsessively fixed his attention, for re-election in November, would be unchanged at 8.5%. Both reports will be published as usual, at 8:30 Eastern.
At 10:00 ISM services will be announced, which could increase this month strongly compared to the previous measurement, endorsing a good number of jobs created, if this indeed is confirmed.
In any case, as we repeat every month, it is always best to wait until the effects dissipate jobs data and the different currency pairs take a definite trend, before entering the market. This type of data often leads to sudden movements in prices, which leveraged markets can have a devastating effect.
Remember this is a market, not a game of chance, and win in the marketplace responds to a good analysis of it, many hours of work, and not a simple riddle of who is right price direction at a given time.
Averaging the European session on Friday, major indexes of the old continent operate with gains of 0.3% on average, while Dow Jones futures show an uptrend in the short term. The same could be confirmed if the data of U.S. employment is positive.
As for currencies, have no relevant movements, as usual in the hours leading up to major reports. The major pairs’ prices have hardly changed since the close of U.S. session on Thursday, and is not expected to change until publication of the jobs report.
To take into account: the Swiss National Bank said, as did the Bank of Japan, who will defend the exchange rate of the franc to 1.20 against the euro as often as necessary. In other words, is imminent intervention of the franc against the euro, and therefore against the dollar. On the side of the BoJ, the situation is similar, and a movement towards 75.55 yen alarms turn ON the intervention. The exchange rate EUR / CHF is 1.2047 at the time, just a few points above the barrier set by the SNB.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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NZD/USD Strong Resistance at 0.8385 (Daily Strategy)
http://forex-images.instaforex.com/u...ebrauri(1).gif
NZD/USD
The New Zealand Dollar - U.S. dollar pair correlates with the stock markets around the world and the index level of fear marks a sharp decline in investor concerns.
At the technical level we see a marked upward trend, the pair has been detained by the second weekly resistance 0.8385, given that today is a weekend, there are fundamental data on the U.S. economy. It is important to take precautions due to market volatility.
We recommend you sell in (R_2) weekly. with a short-term objective 0.8178, just at the level of the uptrend line.
The Momentum indicator has entered into overbought area, there may be a change in trend.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com