Thread: InstaForex Wave Analysis

USD/CAD Elliott wave count for June 8, 2012


USD/CAD Elliott Wave
Yesterday during the Asian and European session the USD/CAD pair had descending movement developing end of the (2) wave (colored green). After this major pair found support around 1.0210 level and finished corrective (2) wave we could observe start of the upward movement for the start of the (3) wave. During the New York session price reached 1.0282 level. Today during the Asian session the USD/CAD pair continued trading in a bullish mood and price reached 1.0340 level.We can consider this move as the end of the 1 wave (colored blue) and at the moment we could observe start of the 2 wave (colored blue).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 (1.0210-1.1.0350) with Take Profit 1 at 1.0279 (50% of wave 1) and Take Profit 2 at 1.0263 (50% of wave 1). Resistance level at 1.0370 can be used as Stop Loss point. Also it is necessary to monitor the CAD Housing Starts, Employment Change, Trade Balance, Unemployment Rate, Labor Productivity q/q and U.S Trade Balance, Wholesale Inventories m/m data that can change the exchange rate of the pair.

Support and Resistance Levels
(S3) 1.0175 (S2) 1.0208 (S1) 1.0228 (PP) 1.0260 (R1) 1.0293 (R2) 1.0313 (R3) 1.0345

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 1.0330 with Stop Loss at 1.0370,Take Profit 1 at 1.0279 and Take Profit 2 at 1.0263 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 11, 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 two subwaves (royal blue in the chart), and potential corrective subwave B is moving from 118.74. Within this wave we also have two subwaves (magenta in the chart), and potential corrective subwave B is developing from 124.28.

The supports below are Fibonacci retracements of 118.74-124.28.

Supports:

- 121.51 = .50 retracement
- 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 off 118.74-124.28-121.85.

- 125.27-28 = confluence area of contracted objective point (COP) and .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 (current prices) or into the oversold area (30-45 pips below the current prices). 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 11, 2011

AUD/USD is developing corrective wave B (light green in the chart) of medium term downtrend from 0.9581. Within this wave we have three subwaves (magenta in the chart), and impulse subwave C is developing from 0.9820.

Now the immediate resistances are Fibonacci retracements of 1.0473-0.9581, and expansions off 0.9581-1.0002-0.9820.

Resistances:

- 1.0027 = .50 retracement
- 1.0080 = contracted objective point (COP)
- 1.0132 = .618 ret
- 1.0241 = objective point (OP)

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 0.9581-1.0007.

Supports:

- 0.9844 = .382 ret
- 0.9794 = .50 ret
- 0.9744 = .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 (current prices) or into the oversold area (25-35 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 June 11, 2012


USD/CAD Elliott Wave

Last week the USD/CAD pair was trading in a downward channel developing corrective (2) wave (coloured green). During the Friday's Asian and European sessions we could observe ascending movement toward the 1.0353 level. We can consider this move as the end of (B) wave (coloured green). Therefore during the NY session the USD/CAD pair did not manage to hold this level and price started pushing lower reaching a new daily low at the 1.0260 level. Today during the Asian session we could observe continuation of the bearish mood and price reached the 1.0200 level. At the moment we are at the start of the (1) wave (coloured green) and we are expecting to see price above 1.0500 soon. In accordance with our wave rules and taking into account that the wave 1 to push the USD/CAD pair to the 1.0500 level, we can put Take Profit 1 at 1.0300 and Take Profit 2 at 1.0350. Invalidation point at 1.0200 can be used as Stop Loss point. Also it is necessary to monitor the U.S. FOMC Member Lockhart Speech data that can change the rate of the pair.
Alternation: The USD/CAD pair is still in the corrective (2) wave (coloured green) and we can expect continuation of the bearish mood to the 1.0122 level (50% retrace of wave 1).

Support and Resistance Levels
(S3) 1.0202 (S2) 1.0238 (S1) 1.0260 (PP) 1.0295 (R1) 1.0331 (R2) 1.0353 (R3) 1.0388

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 1.0240 with Stop Loss at 1.0200 Take Profit 1 at 1.0300 and Take Profit 2 at 1.0350 are recommended.

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

USD/CAD Elliott wave count for June 12, 2012


USD/CAD Elliott Wave
Yesterday the USD/CAD pair was trading in an upward move developing 1 wave (coloured blue). During the European session we could observe ascending movement toward the 1.0255 level. Therefore during the New York session USD/CAD continued trading in a bullish mood and price reached the 1.0320 level. We can consider this move as the end of the 1 wave (coloured blue). At the moment this major pair is trading in a slight downward movement developing corrective 2 wave (coloured blue).
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 (1.0200-1.0320) with Take Profit 1 at 1.0243 (61.8% of wave 1) and Take Profit 2 at 1.0220 (78.6% of wave 1). Resistance level at 1.0325 can be used as a Stop Loss point. Also it is necessary to monitor the U.S. Import Prices m/m, IBD/TIPP Economic Optimism and Federal Budget Balance data that can change the rate of the pair.

Support and Resistance Levels
(S3) 1.0161 (S2) 1.0205 (S1) 1.0232 (PP) 1.0276 (R1) 1.0320 (R2) 1.0347 (R3) 1.0391

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 1.0285 with Stop Loss at 1.0325 Take Profit 1 at 1.0243 and Take Profit 2 at 1.0220 are recommended.

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

AUD/USD Elliott wave count and Fibonacci levels for June 12, 2011

AUD/USD is developing corrective wave B (light green in the chart) of medium term downtrend from 0.9581. Within this wave we have three subwaves (magenta in the chart), and impulse subwave C is developing from 0.9820. Within the latter potential corrective subwave B (red in the chart) is developing from 1.0007.

Now the immediate resistances are Fibonacci retracements of 1.0473-0.9581, and expansions off 0.9581-1.0002-0.9820, 0.9820-1.0007-0.9850.

Resistances:

- 1.0027 = .50 retracement
- 1.0037 = objective point (OP)
- 1.0080 = contracted objective point (COP)
- 1.0132 = .618 ret
- 1.0153 = expanded objective point (XOP)

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 0.9581-1.0007.

Supports:

- 0.9844 = .382 ret
- 0.9794 = .50 ret
- 0.9744 = .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 (10-15 pips below the current prices) or into the oversold area (35-45 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

GBP/JPY Elliott wave count and Fibonacci levels for June 12, 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 two subwaves (royal blue in the chart), and potential corrective subwave B is moving from 118.74. Within this wave we also have two subwaves (magenta in the chart), and potential corrective subwave B is developing from 124.28. Within the latter there are three subwaves (red in the chart) with potential impulse subwave C developing from 124.00.

The supports below are Fibonacci retracements of 118.74-124.28, and expansions off 124.28-121.85-124.00.

Supports:

- 122.16 = .382 retracement
- 121.57-51 = confluence area of objective point and .50 retracement
- 120.86 = .618 ret
- 120.07 = expanded objective point (XOP)

However if the price reverses to the upside the immediate resistances will be Fibonacci retracements of 129.33-118.74, and expansions off 118.74-124.28-121.85.

- 125.27-28 = confluence area of contracted objective point (COP) and .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 (5-10 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

GBP/JPY Elliott wave count and Fibonacci levels for June 13, 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 two subwaves (royal blue in the chart), and potential corrective subwave B is moving from 118.74. Within this wave we also have three subwaves (magenta in the chart), and potential impulse subwave C is developing from 121.85. Within the latter there are three subwaves (red in the chart) with impulse subwave C developing from 122.49.

The supports below are Fibonacci retracements of 118.74-124.28.

Supports:

- 122.16 = .382 retracement
- 121.51 = .50 retracement
- 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 off 118.74-124.28-121.85, 121.85-124.00-122.49.

- 124.64 = objective point (OP)
- 125.27-28 = confluence area of contracted objective point (COP) and .618 ret
- 125.97 = expanded objective point (XOP)



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 (5-10 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

AUD/USD Elliott wave count and Fibonacci levels for June 13, 2011

AUD/USD is developing corrective wave B (light green in the chart) of medium term downtrend from 0.9581. Within this wave we have three subwaves (magenta in the chart), and impulse subwave C is developing from 0.9820. Within the latter potential impulse subwave C (red in the chart) is developing from 0.9850.

Now the immediate resistances are Fibonacci retracements of 1.0473-0.9581, and expansions off 0.9581-1.0002-0.9820, 0.9820-1.0007-0.9850.

Resistances:

- 0.9966 = contracted objective point (COP)
- 1.0027 = .50 retracement
- 1.0037 = objective point (OP)
- 1.0080 = COP
- 1.0132 = .618 ret
- 1.0153 = expanded objective point (XOP)

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 0.9581-1.0007, and expansions off 1.0007-0.9850-0.9970.

Supports:

- 0.9873 = COP
- 0.9844 = .382 ret
- 0.9813 = OP
- 0.9794 = .50 ret
- 0.9744 = .618 ret
- 0.9716 = XOP



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 (5-10 pips below the current prices) or into the oversold area (25-35 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 June 13, 2012


USD/CAD Elliott Wave

Yesterday the USD/CAD pair was developing corrective wave 2 (coloured blue). During the Asian and European session we could observe descending movement towards the 1.0265 level. Therefore during the New York session the USD/CAD pair continued trading in a bearish mood and price fell under the 1.0255 level. Today during the early Asian session the USD/CAD pair found support at 1.0250 (end of the 4 wave) and price started pushing higher. At the movement this major pair is developing impulsive 3 wave (coloured blue) and we are expecting to see price higher today. 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 Fibonacci extensions (1.0200-1.0325-1.0250) with Take Profit 1 at 1.0396 (100% of wave 1) and Take Profit 2 at 1.0467 (161.8% of wave 1). Support level at 1.0240 can be used as a Stop Loss point. Also it is necessary to monitor the U.S. Core Retail Sales m/m, PPI m/m, Retail Sales m/m, Core PPI m/m, Business Inventories m/m, Crude Oil Inventories and 10-y Bond Auction data that can change the rate of the pair.
Alternation: We are still in the corrective wave 2 (coloured blue) and if price break 1.0250 we could expect the next support at the 1.0220 level.

Support and Resistance Levels
(S3) 1.0211 (S2) 1.0238 (S1) 1.0255 (PP) 1.0281 (R1) 1.0308 (R2) 1.0325 (R3) 1.0351

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 1.0240 Take Profit 1 at 1.0396 and Take Profit 2 at 1.0467 are recommended.

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