Thread: InstaForex Wave Analysis

GBP/JPY Elliott wave count and Fibonacci levels for June 14, 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 (royal blue in the chart), and potential impulse subwave C is moving from 124.28. Within this wave we also have three subwaves (magenta in the chart), and potential impulse subwave C is developing from 124.21.

The supports below are Fibonacci retracements of 118.74-124.28, 124.28-121.85-124.21.

Supports:

- 122.71 = contracted objective point (COP)
- 122.16 = .382 retracement
- 121.78 = objective point (OP)
- 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, 121.85-124.21-122.99.

- 124.45 = contracted objective point (COP)
- 125.27-28-35 = confluence area of COP, .618 ret, and OP



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 (5-10 pips above the current prices) or into the overbought area (55-80 pips above the current prices). Watch for opportunities to go short 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 14, 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 two subwaves (magenta in the chart), and potential corrective subwave B is developing from 1.0007. Within the latter potential impulse subwave C (red in the chart) is developing from 1.0003.

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

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 0.9581-1.0007, and expansions off 1.0007-0.9850-1.0003.

Supports:

- 0.9906 = COP
- 0.9846-44 = confluence area of objective point (OP) and .382 ret
- 0.9794 = .50 ret
- 0.9749-44 = confluence area of expanded objective point (XOP) 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 (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 14, 2012


USD/CAD Elliott Wave
Yesterday the USD/CAD pair was trading in an upward movement developing impulsive wave 3 (coloured blue). During the Asian and European session we could observe descending movement toward the 1.0250 level. Therefore during the early New York session the USD/CAD pair continued trading in a bearish mood and price reached a new 2 days low at 1.0240. We can consider this move as the end of the 2 wave (coloured blue). During the second half of the NY session this major started pushing higher and price reached 1.0300 level (daily high).We can consider this move as end of the 1 wave (coloured pink) of the bigger 3 wave (coloured blue). Today during the Asian session the USD/CAD pair did not manage to hold 1.0300 level and price pushed lower to the 1.0265 level (end of wave 2). At the moment we can observe start of the 3 wave (coloured pink) of the bigger 3 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 Fibonacci extensions (1.0240-1.0300-1.0265) with Take Profit 1 at 1.0362 (161.8% of wave 1) and Take Profit 2 at 1.0384 (200% of wave 1). Support level at 1.0240 can be used as a Stop Loss point. Also it is necessary to monitor the CAD NHPI m/m, Capacity Utilization Rate and U.S. Core CPI m/m, Unemployment Claims, CPI m/m, Current Account data that can change the rate of the pair.

Support and Resistance Levels
(S3) 1.0221 (S2) 1.0244 (S1) 1.0258 (PP) 1.0281 (R1) 1.0304 (R2) 1.0318 (R3) 1.0341

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 1.0295 with Stop Loss at 1.0240 Take Profit 1 at 1.0362 and Take Profit 2 at 1.0384 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 15, 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 (royal blue in the chart), and potential impulse subwave C is moving from 124.28. Within this wave we also have three subwaves (magenta in the chart), and potential impulse subwave C is developing from 124.21.

The supports below are Fibonacci retracements of 118.74-124.28, and expansions off 124.28-121.85-124.21, 124.21-122.70-123.55.

Supports:

- 122.16 = .382 retracement
- 122.04 = objective point (OP)
- 121.78 = OP
- 121.51 = .50 retracement
- 121.11 = expanded objective point (XOP)
- 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.

- 125.27-28-35 = confluence area of COP, .618 ret, and OP



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 (60-75 pips above the current prices). Watch for opportunities to go short 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 15, 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 (royal blue in the chart), and impulse subwave C is developing from 0.9820. Within the latter impulse subwave C (magenta in the chart) is developing from 0.9850. This wave also has its subwaves (red in the chart), and impulse subwave C is developing from 0.9921.

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, 0.9850-1.0003-0.9921.

Resistances:

- 1.0037 = objective point (OP)
- 1.0074-80 = confluence area of OP and contracted objective point (COP)
- 1.0132 = .618 ret
- 1.0153 = expanded objective point (XOP)
- 1.0169 = XOP

If the price reverses to the downside the immediate supports will be Fibonacci retracements of the wave up from 0.9850, however this wave is not developed yet, so no supports are available yet.



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 15, 2012


USD/CAD Elliott Wave
The USD/CAD pair was trading in a downward movement yesterday developing corrective wave Y (coloured pink) of the bigger wave 2 (coloured blue). During the European session we could observe a descending movement toward the 1.0260 level. Therefore during the New York session we could observe continuation of the bearish mood and price reaching a new 3 days low at the 1.0225 level. Today during the Asian session the price started pushing higher and reached 1.0245. At the moment we can observe the end of the 2 wave (coloured blue) so we wait 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 (1.0200-1.0325-1.0215) with Take Profit 1 at 1.0390 (127.2% of wave 1) and Take Profit 2 at 1.0435 (161.8% of wave 1). Invalidation point at 1.0200 can be used as a Stop Loss point. Also it is necessary to monitor the CAD Manufacturing Sales m/m and U.S. Empire State Manufacturing Index, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m, Prelim UoM Consumer Sentiment data that can change the rate of the pair.

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 1.0250 with Stop Loss at 1.0200 Take Profit 1 at 1.0390 and Take Profit 2 at 1.0435 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 19, 2011

GBP/JPY is developing potential impulse wave A of medium term uptrend from 118.74 (light green in the chart). Within this wave we have three subwaves (royal blue in the chart), and impulse subwave C is moving from 121.85. Within this wave we also have three subwaves (magenta in the chart), and impulse subwave C is developing from 122.07. The latter is being corrected, subwave B (red in the chart) is developing from 124.58.

Now the resistances are Fibonacci retracements of 131.75-118.74, and expansions off 118.74-124.28-121.85, 121.85-124.21-122.07, 122.07-124.58-123.29.

Resistances:

- 124.84 = contracted objective point (COP)
- 125.25-27 = confluence area of .50 retracement and COP
- 125.80 = objective point (OP)
- 125.89 = expanded objective point (XOP)

The supports below are Fibonacci retracements of 122.07-124.58, and expansions off 124.58-123.29-123.97.

Supports:

- 123.32 = .50 ret
- 123.17 = COP
- 123.03 = .618 ret
- 122.68 = OP
- 121.88 = 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 (current prices) or into the oversold area (15-30 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 19, 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 (royal blue in the chart), and impulse subwave C is developing from 0.9820. Within the latter impulse subwave C (magenta in the chart) is developing from 0.9850. This wave also has its subwaves (red in the chart), and impulse subwave 5 is developing from 0.9921.

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, 0.9850-1.0003-0.9921, 0.9921-1.0134-1.0056.

Resistances:

- 1.0132 = .618 retracement
- 1.0169 = expanded objective point (XOP)
- 1.0188 = contracted objective point (COP)
- 1.0241 = objective point (OP)

The immediate supports now are Fibonacci retracements of 0.9850-1.0141.

Supports:

- 1.0030 = .382 retracement
- 0.9995 = .50 ret
- 0.9961 = .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 (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 19, 2012


USD/CAD Elliott Wave
The USD/CAD pair was trading in the upward move yesterday developing impulsive wave 1 (coloured blue). During the Monday's European session we could observe the ascending move toward the 1.0265 level. We can consider this move as end of the 3 wave of the bigger wave 1 (coloured blue). Therefore during the New York session the USD/CAD pair continued trading in a bullish mood and price reached a new 2 days high at 1.0278 level (end of the 5 wave of the bigger 1 wave). During the second half of the NY session this major pair started pushing lower and price reached the 1.0240 level. Today during the early Asian session price pushed lower and the USD/CAD pair reached the 1.0218 level. At the moment we can observe the end of the 2 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 with Fibonacci extensions (1.0191-1.0277-1.0218) with Take Profit 1 at 1.0304 (100% of wave 1) and Take Profit 2 at 1.0357 (161.8% of wave 1). Invalidation point at 1.0161 can be used as a Stop Loss point. Also it is necessary to monitor the CAD Wholesale Sales m/m and U.S. Building Permits, Housing Starts, G20 Meetings data that can change the rate of the pair.

Support and Resistance Levels
(S3) 1.0151 (S2) 1.0184 (S1) 1.0204 (PP) 1.0237 (R1) 1.0270 (R2) 1.0290 (R3) 1.0323

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 1.0245 with Stop Loss at 1.0191 Take Profit 1 at 1.0304 and Take Profit 2 at 1.0357 are recommended.

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

EUR/USD Intraday Technical Levels for June 21, 2012


TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.2743.

Strong Resistance: 1.2735.

Original Resistance: 1.2723.

Inner Sell Area: 1.2712.

Target Inner Area: 1.2681.

Inner Buy Area: 1.2651.

Original Support: 1.2639.

Strong Support: 1.2627.

Breakout SELL Level: 1.2619.


DESCRIPTION:
Today EUR/USD has support and resistance at 1.2639 and 1.2723 and is accompanied by strong support at 1.2627 and by 1.2735 as strong resistance.

If EUR/USD breaks out and closes below a 1.2619-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2743-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2651, and at 1.2712 – a SELL position, in this case both targets should be located at the level of 1.2681.

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