Thread: InstaForex Wave Analysis

GBP/JPY Elliott wave count and Fibonacci levels for March 22, 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 four subwaves (red in the chart), and potential corrective subwave 4 is developing from 124.59. The latter also has its subwaves (orange red in the chart), and potential corrective subwave B is developing from 127.56.

Now the resistances are Fibonacci retracements of 128.71-124.59, and expansions off 124.59-125.76-125.02.

Resistances:

- 125.74 = contracted objective point (COP)
- 126.16-19 = confluence area of .382 retracement and objective point (OP)
- 126.65 = .50 ret

The immediate supports are Fibonacci expansions off 131.75-127.76-129.32, 128.71-124.59-125.76.

Supports:

- 123.21 = contracted objective point (COP)
- 122.86 = expanded objective point (XOP)



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 (15-20 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 22, 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 latter contrains subwaves A and B (red in the chart), and subwave B is still developing from 0.9795. However the upmove from 0.9795 to 0.9967 can terminate subwave 5 and the whole downwave from 1.0473.

The immediate resistances are Fibonacci retracements of 1.0473-0.9795, and expansions off 0.9795-0.9883-0.9803, 0.9803-0.9876-0.9814, 0.9814-0.9920-0.9892.

Resistances:

- 0.9932 = expanded objective point (XOP)
- 0.9945 = XOP
- 0.9958 = contracted objective point (COP)
- 0.9998 = objective point (OP)
- 1.0005 = super expanded objective point (SXOP)

If the price resumes the downtrend the targets below will be Fibonacci expansions off 1.0473-1.0110-1.0219, 1.0219-0.9870-0.9967.

Supports:

- 0.9751 = COP



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 (10-25 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 22, 2012


USD/CAD Elliott Wave
The USD/CAD pair was trading in a downward move yesterday. During the European session we could observe ascending move toward the 1.0225 level. Therefore during the early New York session we could observe continuation of the bullish mood and price reached 1.0245 level (daily high).The USD/CAD pair did not manage to hold at this level and price started pushing lower in the second half of the NY session. Today during the Asian session price reached new 2 days low at 1.0155 level (100EMA support). Presently we are in the corrective 4 wave and I expect to see price under 1.0110 level today. 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 (1.0053-1.0245) with Take Profit 1 at 1.0117 (50% of wave 3) and Take Profit 2 at 1.0087 (61.8% of wave 3). The resistance level at 1.0200 can be used as Stop Loss. Also it is necessary to consider the data concerning the U.S Existing Home Sales that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0113 (S2) 1.0144 (S1) 1.0163 (PP) 1.0194 (R1) 1.0225 (R2) 1.0244 (R3) 1.0275

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 1.1165 with Stop Loss at 1.0200, Take Profit 1 at 1.0117 and Take Profit 2 at 1.0087 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 24, 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 five subwaves (red in the chart), and impulse subwave 5 is developing from 126.39.

The immediate supports are Fibonacci expansions off 131.75-127.76-129.32, 128.71-124.59-126.39.

Supports:

- 123.84 = contracted objective point (COP)
- 122.86 = expanded objective point (XOP)
- 122.27 = objective point (OP)

If the price reverses to the upside the resistances will be Fibonacci retracements of 126.39-124.25.

Resistances:

- 125.07 = .382 retracement
- 125.32 = .50 ret
- 125.57 = .618 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 (15-20 pips above the current prices) or into the overbought area (35-50 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 24, 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 0.9934. The latter contrains subwaves A, and B (red in the chart), that is developing from 0.9689.

Now the immediate resistances are Fibonacci retracements of 0.9934-0.9689.

Resistances:

- 0.9783 = .382 retracement
- 0.9811 = .50 ret
- 0.9840 = .618 ret

If the price resumes the downtrend the targets below will be Fibonacci expansions off 1.0473-1.0110-1.0219, 1.0219-0.9795-0.9934.

Supports:

- 0.9672 = contracted objective point (COP)
- 0.9632 = expanded objective point (XOP)
- 0.9510 = objective point (OP)



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 (15-30 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 24, 2012


USD/CAD Elliott Wave
The USD/CAD pair was trading in a upward move yesterday. During the Asian and European session we could observe sideways move. Therefore during the New York session when U.S. New Home Sales showed possessive results this major pushed to the 1.0295 level. The USD/CAD did not to hold this level and price return to 1.0230 level at the end of the NY session.Today we can observe this pair slightly higher but before NY session we do no expect much change. Presently we can observe developing of the 3 wave (coloured green). 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 (0.9800-1.0062-0.9955) with Take Profit at 1.0381(161.8% of wave 1). We can use 1.0210 as stop loss point. Also it is necessary to consider the data concerning the U.S. Core Durable Goods Orders m/m, Unemployment Claims, Durable Goods Orders m/m, Flash Manufacturing PMI, FOMC Member Dudley Speech, Treasury Sec Geithner Speech and EU ECB President Draghi Speech, and the Belgium NBB Business Climate that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0149 (S2) 1.0186 (S1) 1.0210 (PP) 1.0248 (R1) 1.0285 (R2) 1.0309 (R3) 1.0347

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 1.0285 with Stop Loss at 1.0210 and Take Profit at 1.0381 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 May 29, 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 (magenta in the chart), and impulse subwave C is developing from 126.39. Within this wave we also have three subwaves (red in the chart).

Now the targets below are Fibonacci expansions off 131.75-127.76-129.33, 129.33-124.59-126.39, 126.39-124.08-125.03.

Supports:

- 123.60 = contracted objective point (COP)
- 123.46 = COP
- 122.86 = expanded objective point (XOP)
- 122.72 = objective point (OP)

If the price keeps moving up, the immediate resistances will be Fibonacci retracements of 126.39-124.08, and 129.33-124.08.

Resistances:

- 125.24 = .50 retracement
- 125.51 = .618 ret
- 126.09 = .382 ret
- 126.71 = .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 (10-25 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 May 29, 2011

AUD/USD is developing impulse wave A (light green in the chart) of medium term downtrend. Within this wave we have two subwaves (royal blue in the chart), and potential corrective subwave B is developing from 0.9689. The latter contains two subwaves (red in the chart), and subwave B is developing from 0.9888.

Now the immediate resistances are Fibonacci retracements of 1.0473-0.9689, and expansions off 0.9689-0.9888-0.9802.

Resistances:

- 0.9925 = contracted objective point (COP)
- 0.9988 = .382 retracement
- 1.0001 = objective point (OP)

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 0.9689-0.9888.

Supports:

- 0.9789 = .50 retracement
- 0.9765 = .618 ret



Overbought/Oversold

The bigger wave is now moving up, so it's preferable to try long positions when the Detrended Oscillator goes below the zero level (15-20 pips below the current prices) or into the oversold area (40-55 pips below the current prices). Watch for opportunities to go long at or near the indicated supports.

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

USD/CAD Elliott wave count for May 29, 2012


USD/CAD Elliott Wave
Last week the USD/CAD pair was trading in bullish mood developing 3 wave (coloured green). Yesterday this major opened with 20 pips gap and price continued pushing lower. During the European session we could observe descending move toward the 1.0222 level. Therefore during the New York session the USD/CAD pair started pushing higher and reached the 1.0265 level. Today during the Asian session we could observe continuation of the bearish mood and price reached the 1.0205 level (200EMA). Presently the USD/CAD pair is in the corrective 4 wave (Coloured green) and I am waiting for the price to lower today. In accordance with our wave rules and taking into account that the wave 4 retraces 50% of the wave 3, we can define the potential targets with Fibonacci retracement (0.9956-1.0310) with Take Profit 1 at 1.0175 (38.2% of wave 3) and Take Profit 2 at 1.0134 (50% of wave 3). The resistance level at 1.0270 can be used as Stop Loss. Also it is necessary to consider the data concerning the U.S. S&P/CS Composite-20 HPI y/y and CB Consumer Confidence that can affect the rate of the pair.

Support and Resistance Levels
(S3) 1.0195 (S2) 1.0214 (S1) 1.0225 (PP) 1.0243 (R1) 1.0262 (R2) 1.0273 (R3) 1.0291

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 1.0205 with Stop Loss at 1.0270, Take Profit 1 at 1.0175 and Take Profit 2 at 1.0134 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 May 30, 2011

The GBP/JPY pair is developing an impulse wave C of he medium term downtrend from 129.32 (light green in the chart). Within this wave we have three subwaves (magenta in the chart) and an impulse subwave C developing from 126.39 including three subwaves (red in the chart) and an impulse subwave C developing from 125.03.

Presently the downside targets are Fibonacci expansions of 131.75-127.76-129.33, 129.33-124.59-126.39, 126.39-124.08-125.03, 125.03-124.33-124.92, 124.92-123.84-124.39.

Supports:

- 123.79-72 = confluence area of expanded objective point (XOP) and contracted objective point (COP)
- 123.60 = COP
- 123.46 = COP
- 123.31 = objective point (OP)
- 123.09 = super expanded objective point (SXOP)

If the price reverses to the upside, the immediate resistances will be Fibonacci retracements of the wave down from 125.03 - this wave is not developed yet, so no resistances are available so far.



Overbought/Oversold

The bigger wave is now moving downwards, so it is 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 (20-30 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