Thread: InstaForex Wave Analysis

USD/JPY Intraday Technical Levels for June 28, 2012 2012-06-27



TODAY's TECHNICAL LEVELS:

Resistance. 3: 79.87.

Resistance. 2: 79.71.

Resistance. 1: 79.56.

Support. 1: 79.37.

Support. 2: 79.21.

Support. 3: 79.04


DESCRIPTION:
Please, pay attention to the levels of support. 3 (79.04) and resistance. 3 (79.87), in general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign of that these currencies have found trends today.
Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/CAD Above 1.0300 Today - Analysis for June 28, 2012 2012-06-28



USD/CAD Elliott Wave
Yesterday the USD/CAD pair was trading in an upward move developing corrective wave Y (coloured blue) of the bigger wave (2) (coloured green). During the Asian and European sessions we could observe an ascending movement toward the 1.0260 level. Therefore during the New York session the USD/CAD pair continued trading in a bullish mood, and we could observe price reaching a new daily high at 1.0267 level. During the second half of the NY session and today's Asian session this major pair did not manage to hold this level price and retraced to the 1.0231 level. We can consider this move as end of the 2 wave (coloured green), and we are expecting to see price above 1.0300 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 (1.0160-1.0317-1.0231) with Take Profit 1 at 1.0383 (100% of wave 1) and Take Profit 2 at 1.0477 (161.8% of wave 1). Support at 1.0225 can be used as a Stop Loss point. Also it is necessary to monitor the U.S. Unemployment Claims, Final GDP q/q, FOMC Member Pianalto Speaks, data that can change the rate of the pair.
Support and Resistance Levels
(S3) 1.0215 (S2) 1.0229 (S1) 1.0237 (PP) 1.0250 (R1) 1.0264 (R2) 1.0272 (R3) 1.0285
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 1.0280 with Stop Loss at 1.0225 Take Profit 1 at 1.0383 and Take Profit 2 at 1.0477 are recommended.Performed by Nicola Delic, Analytical expert

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

USD/CAD Above 1.0300 Today - Analysis for June 28, 2012 2012-06-28



USD/CAD Elliott Wave
Yesterday the USD/CAD pair was trading in an upward move developing corrective wave Y (coloured blue) of the bigger wave (2) (coloured green). During the Asian and European sessions we could observe an ascending movement toward the 1.0260 level. Therefore during the New York session the USD/CAD pair continued trading in a bullish mood, and we could observe price reaching a new daily high at 1.0267 level. During the second half of the NY session and today's Asian session this major pair did not manage to hold this level price and retraced to the 1.0231 level. We can consider this move as end of the 2 wave (coloured green), and we are expecting to see price above 1.0300 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 (1.0160-1.0317-1.0231) with Take Profit 1 at 1.0383 (100% of wave 1) and Take Profit 2 at 1.0477 (161.8% of wave 1). Support at 1.0225 can be used as a Stop Loss point. Also it is necessary to monitor the U.S. Unemployment Claims, Final GDP q/q, FOMC Member Pianalto Speaks, data that can change the rate of the pair.
Support and Resistance Levels
(S3) 1.0215 (S2) 1.0229 (S1) 1.0237 (PP) 1.0250 (R1) 1.0264 (R2) 1.0272 (R3) 1.0285
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 1.0280 with Stop Loss at 1.0225 Take Profit 1 at 1.0383 and Take Profit 2 at 1.0477 are recommended.Performed by Nicola Delic, Analytical expert

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

EUR/USD Intraday Technical Levels for July 3, 2012



TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.2640.

Strong Resistance: 1.2632.

Original Resistance: 1.2620.

Inner Sell Area: 1.2608.

Target Inner Area: 1.2578.

Inner Buy Area: 1.2548.

Original Support: 1.2536.

Strong Support: 1.2524.

Breakout SELL Level: 1.2516.


DESCRIPTION:
Today EUR/USD has support and resistance at 1.2536 and 1.2620 and is accompanied by strong support at 1.2524 and by 1.2632 as strong resistance.

If EUR/USD breaks out and closes below a 1.2516-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2640-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2548, and at 1.2608 – a SELL position, in this case both targets should be located at the level of 1.2578.

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

AUD/USD Wave Analysis for July 3, 2012



AUD/USD Elliott Wave
Yesterday the AUD/USD pair was trading in a sideways move developing final 5 wave (coloured pink) of the bigger 1 wave (coloured blue). During the early European session we could observe a strong ascending movement toward the 1.0277 level. Therefore, during the New York session the AUD/USD pair did not manage to hold this level and we could observe price around 1.0223 level. Today this currency pair is trading around 1.0285 and 1.0255 level and we are expecting to see price above 1.0365 today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets measuring 1 wave with Take Profit at 1.0369 (100% of wave 1). Support level at 1.0245 can be used as a Stop Loss point. Also it is necessary to monitor the U.S Factory Orders m/m and Total Vehicle Sales data that can change the rate of the pair.
Support and Resistance Levels
(S3) 1.0180 (S2) 1.0205 (S1) 1.0221 (PP) 1.0245 (R1) 1.0270 (R2) 1.0286 (R3) 1.0310
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 1.0265 with Stop Loss at 1.0245 and Take Profit at 1.6408 are recommended.

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

GBP/USD Weekly Wave Analysis 2012-07-03



GBP/USD Elliott Wave
The GBP/USD pair was trading in an upward move last week developing waves 1 and 2 (coloured green). During the Asian and the early European sessions we could observe descending movement toward the 1.5640 level where this major pair found support and price started pushing higher. Therefore, during the New York session we could observe a strong bullish mood in this pair and price reached above 1.5720 level. Today the GBP/USD pair is trading in a sideways move and we are expecting to see price above 1.5800 level. 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 (1.5265-1.5777-1.5483 with Take Profit 1 at 1.5993 (100% of wave 1) and Take Profit 2 at 1.6408 (161.8% of wave 1). Invalidation point at 1.5484 can be used as a Stop Loss point. Also it is necessary to monitor the U.S Factory Orders m/m and Total Vehicle Sales data that can change the rate of the pair.
Support and Resistance Levels
(S3) 1.5605 (S2) 1.5636 (S1) 1.5654 (PP) 1.5685 (R1) 1.5716 (R2) 1.5734 (R3) 1.5765
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 1.5777 with Stop Loss at 1.5484 Take Profit 1 at 1.5993 and Take Profit 2 at 1.6408 are recommended.

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

USD/CAD Intraday Technical Analysis and Trading Recommendations for July 6, 2012



On Friday the USD/CAD pair expressed a massive bearish reaction towards the price level of 1.0355 making a quick bearish movement of about 200 pips reaching price levels around 1.0160 and exceeding the Average Daily Range by about 75 pips.
During this week, USD/CAD has been moving downwards but within narrow range zone and without obvious swings which indicates a possible change in the current bearish direction which was proved yesterday with obvious bullish reaction towards the lower limit of the Yellow channel around 1.0099 manifested in the bullish engulfing 1H candlestick.
Today a bullish breakout above the depicted movement channels happened some time ago giving more confirmation that a possible coming bullish movement is about to take place.
Price Level of 1.0140 which corresponds to the backside of the broken Yellow & Blue channels is now considered as a strong Intraday Support Level where a valid low-risk BUY entry can be taken with SL located below 1.0090 while TP levels are to be located at 1.0180 then 1.0240.

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

GBP/USD Intraday Technical Analysis and Trading Recommendations for July 6, 2012




The Linear Regression Channels illustrate a strong bearish movement expressed by GBP/USD during this week as the pair has been trending down heavily within the depicted bearish Violet, Blue & Yellow channels which are almost identical.
This heavy bearish movement came as a consequence of the previous massive bullish movement expressed on Friday which exceeded the Average Daily Range by about 85 pips and after formation of the Head & Shoulders reversal pattern around price level of 1.5700.
Today it is possible to observe some signs of bullish recovery as the pair couldn't break through the mid-line of the Yellow channel failing to make a lower low. Instead, the pair found Intraday Support around 1.5500 which renders the price level of 1.5500 and valid BUY entry with minimal SL located below 1.5465 while TP levels are to be located at 1.5540 then 1.5570.
Price Zone 1.5570-1.5580 should be watched for price action as it's considered as a strong Intraday Resistance Zone for the GBP/USD pair.


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

GBP/JPY Still a chance to rally! - Analysis for July 6, 2012



GBP/JPY Elliott Wave
The GBP/JPY pair was trading in a downward movement yesterday, developing impulsive wave 3 (coloured blue). During the Asian and European sessions we could observe descending movement towards the 123.80 level. Therefore, during the New York early session, this pair did not manage to hold this level and the price started pushing higher, but the GBP/JPY pair found resistance at 124.50 level and we could observe continuation of the bearish mood in the second half of the NY session. Today this exotic pair is trading around 124.00 level and we are expecting to see the price around 120.70 level next week. 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 (125.78-122.81-125.43) with Take Profit 1 at 122.52 (100% of wave 1) and Take Profit 2 at 120.69 (161.8% of wave 1). Resistance at 124.50 can be used as a Stop Loss point.
Support and Resistance Levels
(S3) 123.24 (S2) 123.63 (S1) 123.86 (PP) 124.25 (R1) 124.64 (R2) 124.87 (R3) 125.26
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 123.70 with Stop Loss at 124.50 Take Profit 1 at 122.52 and Take Profit 2 at 120.69 are recommended.

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

GBP/JPY Wave Analysis for July 10, 2012



GBP/JPY Elliott Wave
The GBP/JPY pair finished corrective 4 wave (coloured blue) of the bigger (3) wave at 61.8% of the 2 wave yesterday. During the Asian session, we could observe an ascending movement towards the 123.50 level. Therefore, during the early European session, the GBP/JPY pair did not manage to hold this level and the price retraced towards the 123.05. During the New York session we could observe continuation of the bullish mood from Asian session and the price reached a new daily high at 123.63 level (end of the 4 wave). At the moment we can observe the price around 123.20 level and we are expecting to see the price around 122.00 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 (125.78-122.81-125.43) with Take Profit 1 at 122.52 (100% of wave 1) and Take Profit 2 at 120.69 (161.8% of wave 1). Resistance point at 123.60 can be used as Stop Loss point.
Support and Resistance Levels
(S3) 122.69 (S2) 122.96 (S1) 123.12 (PP) 123.39 (R1) 123.66 (R2) 123.82 (R3) 124.09
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 123.00 with Stop Loss at 123.60, Take Profit 1 at 122.52, and Take Profit 2 at 120.69 are recommended.

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