Thread: InstaForex Wave Analysis

USD/CAD Elliott wave count for June 5, 2012


USD/CAD Elliott Wave
The USD/CAD pair was trading in a sideways movement yesterday developing the wave 4 (coloured blue) of the bigger (5) wave. From the beginning of the European session this major started the descending movement towards the 1.0375 level. Therefore during the New York session the USD/CAD pair started pushing higher reaching a 1.0435 level. During the Second half of the NY session we could observe the continuation of the bearish mood and price return to the 1.0390 level. Today's Asian session follow yesterday bearish mood and price reached a new low at 1.0360 level. We can consider this move as end of the corrective 4 wave (coloured blue). At the moment we can observe the start of the impulsive 5 wave of the bigger (1) wave (coloured green) and we are expecting to see price higher today.In accordance with our wave rules and taking into account that the wave 5 retraces 50% of the wave 3, we can define the potential targets with measuring the 3 wave with Take Profit 1 at 1.0475 (50% of wave 3) and Take Profit 2 at 1.0502 (61.8% of wave 3). The end of the 4 wave can be used as Stop Loss point. Also it is necessary to consider the data concerning the CAD Building Permits m/m, BOC Rate Statement, Overnight Rate, USD ISM Non-Manufacturing PMI and G7 Meetings Meetings that can change the rate of the pair.

Support and Resistance Levels
(S3) 1.0325 (S2) 1.0354 (S1) 1.0373 (PP) 1.0402 (R1) 1.0431 (R2) 1.0450 (R3) 1.0479

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 1.0420 with Stop Loss at 1.0390,Take Profit 1 at 1.0475 and Take Profit 2 at 1.0502 are recommended

Performed by Nicola Delic, 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 June 6, 2011

The GBP/JPY pair is developing an impulse wave C of the medium term downtrend from 129.32 (light green in the chart). Within this wave we have three subwaves (magenta in the chart) and a potential corrective subwave 4 moving from 118.74. Within this wave we also have three subwaves (red in the chart), and impulse subwave C is developing from 119.69.

At the moment the resistances are Fibonacci retracements of 125.03-118.74, 126.39-118.74 and expansions of 118.74-120.77-119.69, 119.69-121.27-120.56.

Resistances:

- 121.66-72 = confluence area of .382 retracement and objective point (OP)
- 121.88 = .50 ret
- 122.14 = OP
- 122.57-63 = confluence area of .50 and .618 ret
-122.97 = expanded objective point (XOP)
- 123.12 = XOP

If the price reverses to the downside, the immediate supports will be Fibonacci retracements of the upside wave from 118.74. As this wave has not developed yet, supports are not available.



Overbought/Oversold

The bigger wave is now moving down, so it is preferable to try short positions when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (30-50 pips above the current prices). Consider the 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 June 6, 2011

The AUD/USD pair is developing a corrective wave B (light green in the chart) of the medium term downtrend from 0.9581. Within this wave we have three subwaves (red in the chart) and an impulse subwave C developing from 0.9710.

Presently the immediate resistances are Fibonacci retracements of 1.0473-0.9581 and expansions of 0.9581-0.9803-0.9710.

Resistances:

- 0.9847 = contracted objective point (COP)
- 0.9922 = .382 retracement
- 0.9932 = objective point (OP)
- 1.0027 = .50 ret
- 1.0069 = expanded objective point (XOP)

If the price reverses to the downside, the immediate supports will be Fibonacci retracements of the wave up from 0.9581 - this wave is not developed yet, so supports are not available so far.



Overbought/Oversold

The bigger wave is now moving upwards, so it is preferable to try long positions when the Detrended Oscillator goes below the zero level (25-30 pips below the current prices) or into the oversold area (45-60 pips below the current prices). Consider the 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 June 6, 2012


USD/CAD Elliott Wave
For the last 2 days the USD/CAD pair was developing a complex corrective wave 4 (coloured blue). Yesterday during the European session we could observe the ascending movement towards the 1.0424 level and we can consider this move as end of the (x) wave (coloured pink). Therefore during the New York session the USD/CAD pair started pushing lower reaching a 1.0360 level.Today during the Asian session this major pair continued trading in a bearish mood and price reached 1.0310 level.Presently we can observe the end of the 4 wave and prepare to enter Long position for the 5 wave.In accordance with our wave rules and taking into account that the wave 5 retraces 78.6% of the wave 3, we can define the potential targets with measuring the 3 wave with Take Profit 1 at 1.0450 (61.8% of wave 3) and Take Profit 2 at 1.0488 (78.6% of wave 3). The invalidation of this count at 1.0269 can be used as Stop Loss point. Also it is necessary to consider the data concerning the U.S FOMC Member Lockhart Speaks, Revised Nonfarm Productivity q/q, FOMC Member Lockhart Speaks, Crude Oil Inventories,Beige Book and FOMC Member Williams Speaks that can change the rate of the pair.

Support and Resistance Levels
(S3) 1.0323 (S2) 1.0348 (S1) 1.0363 (PP) 1.0387 (R1) 1.0412 (R2) 1.0427 (R3) 1.0451

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 1.0350 with Stop Loss at 1.0269 Profit 1 at 1.0450 and Take Profit 2 at 1.0488 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 June 7, 2011

The GBP/JPY pair is developing an impulse wave C of the medium term downtrend from 129.32 (light green in the chart) comprising two subwaves (royal blue in the chart) and a potential corrective subwave B moving from 118.74. Within this wave we also have three subwaves (red in the chart) and impulse subwave C developing from 119.69 including 5 subwaves (yellow in the chart) and subwave 5 still moving from 121.91.

Presently the resistances are Fibonacci retracements of 126.39-118.74 and expansions of 118.74-120.77-119.69, 119.69-121.27-120.56, 120.56-122.89-121.91.

Resistances:

- 122.97 = expanded objective point (XOP)
- 123.12 = XOP
- 123.35 = contracted objective point (COP)
- 123.47 = .618 retracement
- 124.24 = objective point (OP)

If the price reverses to the downside, the immediate supports will be Fibonacci retracements of the wave up from 118.74 - this wave has not developed yet, so supports are not available.



Overbought/Oversold

The bigger wave is now moving up, so it is 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 (35-50 pips below the current prices). Consider the opportunities to go long 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 June 7, 2011

The AUD/USD pair is developing a corrective wave B (light green in the chart) of the medium term downtrend from 0.9581 comprising three subwaves (red in the chart) and an impulse subwave C developing from 0.9710. This wave also includes three subwaves (orange red in the chart) and a subwave C is moving from 0.9877.

Presently the immediate resistances are Fibonacci retracements of 1.0473-0.9581 and expansions of 0.9581-0.9803-0.9710, 0.9710-0.9931-0.9877.

Resistances:

- 1.0014 = contracted objective point (COP)
- 1.0027 = .50 retracement
- 1.0069 = expanded objective point (XOP)
- 1.0098 = objective point (OP)
- 1.0132 = .618 ret

If the price reverses to the downside, the immediate supports will be Fibonacci retracements of the wave up from 0.9581 - this wave is not developed yet, so supports are not available.



Overbought/Oversold

The bigger wave is now moving up, so it is preferable to try long positions when the Detrended Oscillator goes below the zero level (20-25 pips below the current prices) or into the oversold area (40-50 pips below the current prices). Consider the 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 June 7, 2012


USD/CAD Elliott Wave
For the last few days the USD/CAD pair was trading in a downward channel developing corrective (2) (coloured green). Yesterday since the opening of Asian session up to the end of the European session the USD/CAD was trading in a descending movement near the 1.0310 level. Therefore, during the New York session we could observe the continuation of the bearish mood and price reached 1.0270 level. Today during the Asian session the USD/CAD pair was trading in a sideways movement. At the moment we are in the corrective C wave expecting the price to go lower today. In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets Fibonacci retracement (0.9803-1.0444) with Take Profit 1 at 1.0198 (38.2% of wave 1) and Take Profit 2 at 1.0122 (50% of wave 1). Resistance level at 1.0310 can be used as Stop Loss point. Also it is necessary to consider the data concerning the U.S Unemployment Claims, Fed Chairman Bernanke Testifies, FOMC Member Lockhart Speaks and CAD Ivey PMI that can change the rate of the pair.

Support and Resistance Levels
(S3) 1.0196 (S2) 1.0239 (S1) 1.0266 (PP) 1.0309 (R1) 1.0352 (R2) 1.0379 (R3) 1.0422

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 1.0260 with Stop Loss at 1.0310,Take Profit 1 at 1.0198 and Take Profit 2 at 1.0122 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 June 8, 2011

GBP/JPY is developing impulse wave C of a mid-term downtrend from 129.32 (light green in the chart). Within this wave we have two subwaves (royal blue in the chart). Potential corrective subwave B is moving from 118.74. Within this wave we also have four subwaves (red in the chart); potential corrective subwave 4 is developing from 124.28.

The supports below are Fibonacci retracements of 119.69-124.28, 118.74-124.28.

Supports:

- 122.53 = .382 retracement
- 122.16 = .382 ret
- 121.99 = .50 ret
- 121.51-44 = .50 and .618 retracements
- 120.86 = .618 ret

However if the price reverses to the upside, the immediate resistances will be Fibonacci retracements of 129.33-118.74, and expansions of 118.74-120.77-119.69.

- 125.00 = super expanded objective point (SXOP)
- 125.28 = .618 ret



Overbought/Oversold

The bigger wave is now moving up, so it is preferable to try long positions when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (current prices as well). Watch for opportunities to go long 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 June 8, 2011

AUD/USD is developing corrective wave B (light green in the chart) of a mid-term downtrend from 0.9581. Within this wave we have two subwaves (magenta in the chart). Potential corrective subwave B is developing from 1.0002.

Now the supports below the current price are Fibonacci retracements of 0.9710-1.0002, and 0.9581-1.0002.

Supports:

- 0.9841 = .382 retracement
- 0.9822 = .618 ret
- 0.9791 = .50 ret
- 0.9742 = .618 ret

If the price reverses to the upside, the immediate resistances will be Fibonacci retracements of 1.0473-0.9581.

Resistances:

- 1.0027 = .50 retracement
- 1.0132 = .618 ret



Overbought/Oversold

The bigger wave is now moving up, so it is preferable to try long positions when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (10-20 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