Thread: InstaForex Wave Analysis

GBP/JPY Elliott wave count and Fibonacci levels for May 10, 2012


GBP/JPY is developing impulse wave A of medium term downtrend from 131.75 (light green in the chart). Within this wave we have three subwaves (royal blue in the chart), and impulse subwave C is developing from 130.71. Within it there are also three subwaves (magenta in the chart), and impulse subwave C is developing from 129.51.
The targets below are Fibonacci expansions off 131.75-129.02-130.71, 130.71-128.34-129.51, 129.51-127.76-128.75.
Supports:
- 127.67 = contracted objective point (COP)
- 127.14 = objective point (OP)
- 127.00 = OP
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 130.71-127.76, 131.75-127.76.
Resistances:
- 128.89 = .382 retracement
- 129.24-28 = confluence area of .50 and .382 retracements
- 129.58 = .618 ret
- 129.76 = .50 ret



Overbought/Oversold
The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (25-35 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

GBP/JPY Elliott wave count and Fibonacci levels for March 15, 2011

The GBP/JPY pair is developing a corrective wave B of the medium term downtrend from 127.76 (light green in the chart) including three subwaves (red in the chart) and a potential impulse subwave C developing from 127.97.

Presently the upside targets are Fibonacci retracements of 130.71-127.76, 131.75-127.76 and expansions of 127.76-129.32-127.97.

Resistances:

- 128.93 = contracted objective point (COP)
- 129.53-58 = confluence area of objective point (OP) and .618 retracement
- 129.76 = .50 ret
- 130.23 = .618 ret

The targets below are Fibonacci expansions of 131.75-127.76-129.32, 130.71-127.76-129.32.

Supports:

- 127.50 = contracted objective point (COP)
- 126.85 = COP
- 126.37 = objective point (OP)



Overbought/Oversold

The bigger wave is now moving downside, so it is recommended to try short positions when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (20-35 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

AUD/USD Elliott wave count and Fibonacci levels for March 15, 2011

The AUD/USD pair is developing an impulse wave A (light green in the chart) of the medium term downtrend comprising four subwaves (magenta in the chart) and a potential corrective subwave 4 developing from 1.0944.

Presently the immediate resistances are Fibonacci retracements of 1.0219-0.9944, 1.0142-0.9944.

Resistances:

- 1.0020 = .382 retracement
- 1.0043-49 = confluence area of .50 and .382 retracements
- 1.0066 = .618 ret
- 1.0082 = .50 ret

If the downtrend resumes, the immediate supports will be Fibonacci expansions of 1.0473-1.0110-1.0219, 1.0219-1.0020-1.0142.

Supports:

- 0.9943 = objective point (OP)
- 0.9856 = OP
- 0.9820 = expanded objective point (XOP)


Overbought/Oversold

The larger wave is now moving down, so it's prefereable to go short when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (current prices as well); consider the possibilities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/CAD Elliott wave count for March 15, 2012


USD/CAD Elliott Wave
Yesterday during the European session we could observe the ascending movement towards the 1.0050 level. We can consider this movement as the end of the 1 wave (coloured blue) of the bigger (3) wave (coloured green). Therefore during the New York session the USD/CAD pair start pushing lower towards the 1.0012 level (100 EMA support). Having tested this level the USD/CAD pair pushed slightly higher and we could observe the price back at 1.0040. Today during the Asian session we could observe the continuation of the bearish mood and price touching 0.9993 level. We can consider this move as the end of the wave 2 (coloured blue). Presently we are in the 3 impulsive wave (coloured blue). In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9953-1.0050-0.9993) with Take Profit 1 at 1.0128 (161.8% of wave 1) and Take Profit 2 at 1.0165 (200% of wave 1). The Invalidation point at 0.9954 level can be used as Stop Loss. Also it is necessary to consider the data concerning the U.S Core CPI m/m, Core Retail Sales m/m, Retail Sales m/m, CPI m/m, Empire State Manufacturing Index, TIC Long-Term Purchases and Business Inventories m/m that can affect the rate of the pair.

Support and Resistance levels
(S3) 0.9964 (S2) 0.9987 (S1) 1.0002 (PP) 1.0026 (R1) 1.0049 (R2) 1.0064 (R3) 1.0088

Trading Forecast
Proceeding from Elliott Wave Rules this week the trend is expected to begin the upward movement. That is why Long positions at level 1.0020 with Stop Loss at 0.9954, Take Profit 1 at 1.0128 and Take Profit 2 at 1.0165 are recommended.

Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

GBP/JPY Elliott wave count and Fibonacci levels for March 17, 2011

GBP/JPY is developing impulse wave C of medium term downtrend from 129.32 (light green in the chart). Within this wave we have three subwaves (red in the chart), and impulse subwave C is developing from 128.71.

The immediate supports are Fibonacci expansions off 131.75-127.76-129.32, 129.32-127.97-128.71, 128.71-127.63-128.33.

Supports:

- 127.36 = objective point (OP)
- 127.25 = OP
- 126.85 = contracted objective point (COP)
- 126.58 = expanded objective point (XOP)
- 126.53 = XOP

If the price reverses to the upside the immediate resistances will be Fibonacci retracements of the wave down from 127.71 - this wave is not developed yet, so no resistances are available so far.



Overbought/Oversold

The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator goes above the zero level (10-15 pips above the current prices) or into the overbought area (25-35 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

AUD/USD Elliott wave count and Fibonacci levels for March 17, 2011

AUD/USD is developing impulse wave A (light green in the chart) of medium term downtrend. Within this wave there are five subwaves (magenta in the chart), and potential subwave A of ABC corrective cycle is developing from 0.9870.

Now the immediate resistances are Fibonacci retracements of 1.0219-0.9870, and expansions off 0.9870-0.9967-0.9898.

Resistances:

- 0.9995-1.0003 = confluence area of objective point (OP) and .382 retracement
- 1.0045 = .50 ret
- 1.0055 = expanded objective point (XOP)
- 1.0086 = .618 ret

The targets below are Fibonacci expansions off 1.0473-1.0110-1.0219, 1.0219-1.0020-1.0142, 1.0142-0.9944-1.0014, 1.0014-0.9870-0.9968.

Supports:

- 0.9856 = OP
- 0.9823-20-16 = confluence area of XOP and two OP's
- 0.9798 = XOP


Overbought/Oversold

The larger wave is now moving down, so it's prefereable to go short when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (10-20 pips above the current prices), watch for possibilities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/CAD Elliott wave count for March 17, 2012


USD/CAD Elliott Wave
Yesterday the USD/CAD pair was trading upwards. During the Asian session we could observe ascending movement towards the 1.0130 level, where this major pair found resistance and started pushing lower in a European session. During the early New York session USD/CAD found support a few pips above 50EMA, and we could observe an upward move towards 1.0131 (new daily high). Today during the Asian session we could observe slight correction of this currency pair to the 1.0105 level. I expect to see price above 1.0180 for the end of the 3 wave (coloured blue). In accordance with our wave rules and taking into account that the wave 3 retraces 200% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9953-1.0050-0.9990) with Take Profit 1 at 1.0179 (200% of wave 1). The support level at the 1.0105 level can be used as Stop Loss. Also it is necessary to consider the data concerning the U.S. Unemployment Claims, Treasury Sec Geithner Speech, Philly Fed Manufacturing Index and CAD Foreign Securities Purchases, Wholesale Sales m/m, that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0023 (S2) 1.0053 (S1) 1.0072 (PP) 1.0102 (R1) 1.0132 (R2) 1.0151 (R3) 1.0181

Trading Forecast
Proceeding from Elliott Wave Rules this week the trend is expected to begin the upward movement. That is why Long positions at level 1.0140 with Stop Loss at 1.0105 and Take Profit at 1.0180
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

GBP/JPY Elliott wave count and Fibonacci levels for March 18, 2011

GBP/JPY is developing impulse wave C of medium term downtrend from 129.32 (light green in the chart). Within this wave we have three subwaves (red in the chart), and impulse subwave C is developing from 128.71. The latter also has its subwaves (orange red in the chart), and impulse subwave C is developing from 128.33.

The immediate supports are Fibonacci expansions off 131.75-127.76-129.32.

Supports:

- 122.86 = expanded objective point (XOP)

If the price reverses to the upside the immediate resistances will be Fibonacci retracements of the wave down from 128.33 - this wave is not developed yet, so no resistances are available so far.



Overbought/Oversold

The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator goes above the zero level (25-30 pips above the current prices) or into the overbought area (40-50 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

AUD/USD Elliott wave count and Fibonacci levels for March 18, 2011

AUD/USD is developing impulse wave A (light green in the chart) of medium term downtrend. Within this wave there are five subwaves (magenta in the chart), and impulse subwave 5 is developing from 0.9967.

The targets below the current price are Fibonacci expansions off 1.0473-1.0110-1.0219, 1.0219-0.9870-0.9967, 0.9967-0.9895-0.9957.

Supports:

- 0.9769 = super expanded objective point (SXOP)
- 0.9751 = contracted objective point (COP)

If the price reverses to the upside the immediate resistances will be Fibonacci retracements of the wave down from 0.9967 (the 5th wave) - this wave is not developed yet, so no resistances are available so far.



Overbought/Oversold

The larger wave is now moving down, so it's prefereable to go short when the Detrended Oscillator goes above the zero level (35-40 pips above the current prices) or into the overbought area (55-65 pips above the current prices), watch for possibilities to go short at or near the indicated resistances.

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/CAD Elliott wave count for March 18, 2012


USD/CAD Elliott Wave
Yesterday the USD/CAD pair was trading upwards developing last 5 wave of the bigger 3 wave (coloured blue). During the European session we could observe ascending move toward the 1.0156 level. Therefore, during the New York session USD/CAD continued trading in a bullish mood reaching a new daily high at the 1.0195 level. Today during the Asian session we could observe one more push higher where the USD/CAD pair reached 1.0226. We can consider this move as the end of 3 wave (coloured blue) of the bigger (3) wave (coloured green). Presently we are at the start of the corrective 4 wave. In accordance with our wave rules and taking into account that the wave 4 retraces 61.8% of the wave 3, we can define the potential targets with Fibonacci retracements (1.0053-1.0226) with Take Profit 1 at 1.0108 (50% of wave 3) and Take Profit 2 at 1.0080 (61.8% of wave 3). The resistance level at 1.0225 can be used as Stop Loss. Also it is necessary to consider the data concerning the CAD Core CPI m/m, CPI m/m and USD Treasury Currency Report, G8 Meetings, that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0073 (S2) 1.0107 (S1) 1.0129 (PP) 1.0164 (R1) 1.0198 (R2) 1.0220 (R3) 1.0255

Trading Forecast
Proceeding from Elliott Wave Rules this week the trend is expected to begin the downward movement. That is why Short positions at level 1.0165 with Stop Loss at 1.0225, Take Profit 1 at 1.0108 and Take Profit 2 at 1.0080 are recommended

Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com