Thread: InstaForex Wave Analysis

AUD/USD Ready to Push Higher - Analysis for July 10, 2012



AUD/USD Elliott Wave
The AUD/USD pair was trading in a sideways move on Monday developing corrective wave 2 (coloured blue). During the European session, we could observe a descending movement towards the 1.0153 level where this currency pair found support and started pushing higher. We can consider this move as the end of the corrective wave 2 (coloured blue). Therefore, during the New York session the AUD/USD pair continued to its bullish mood from the second half of the EU session and the price retraces back to the open price (around 1.0210 level). Today during the Asian session, the price fell back to the 1.0160 level and we are expecting to see a higher price soon. 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 (0.9968-1.0328-1.0153) with Take Profit 1 at 1.0471 (100% of wave 1) and Take Profit 2 at 1.0694(161.8% of wave 1). Support at 1.0100 can be used as Stop Loss point.
Support and Resistance Levels
(S3) 1.0133 (S2) 1.0155 (S1) 1.0169 (PP) 1.0191 (R1) 1.0213 (R2) 1.0227 (R3) 1.0249
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 1.0255 with Stop Loss at 1.0100, Take Profit 1 at 1.0471, and Take Profit 2 at 1.0694 are recommended.

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

EUR/USD Intraday Technical Levels for July 10, 2012



TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.2377.

Strong Resistance: 1.2370.

Original Resistance: 1.2358.

Inner Sell Area: 1.2346.

Target Inner Area: 1.2317.

Inner Buy Area: 1.2288.

Original Support: 1.2276.

Strong Support: 1.2264.

Breakout SELL Level 1.2257.


DESCRIPTION:
At the moment the EUR/USD pair has support and resistance at 1.2276 and 1.2358 with a strong support at 1.2264 and a strong resistance at 1.2370.

If EUR/USD breaks out and closes below a 1.2257-level today, then this will point to a considerable bearish power, while if EUR/USD manages to break through and close above a 1.2377-level, then this will denote high bullish strength. Alternatively, you can open a BUY position at the level of 1.2288, and at 1.2346 – a SELL position, in this case both objectives should be placed at the level of 1.2317.


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

GBP/JPY Wave Analysis for July 11, 2012



GBP/JPY Elliott Wave
Since yesterday the GBP/JPY pair was trading in downward move developing impulsive wave 5 (coloured blue) of the bigger wave (3) (coloured green). During the early European session we could observe descending movement towards the 122.70 level. This move may be regarded as the end of a smaller wave 1 of the bigger 5 wave (coloured blue). For this reason, during the New York session GBP/JPY did not manage to hold this level and price returned to the 123.45. At the moment the price is trading around 123.10 level and we are expecting to see it around 122.00 level 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 123.67 can be used as Stop Loss point.
Support and Resistance Levels
(S3) 122.38 (S2) 122.69 (S1) 122.88 (PP) 123.20 (R1) 123.51 (R2) 123.70 (R3) 124.02
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 122.90 with Stop Loss at 123.66, 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

AUD/USD Wave Analysis for July 11, 2012



AUD/USD Elliott Wave
Since Monday the AUD/USD pair was trading in an upward move developing impulsive wave 1 (coloured pink). An ascending movement towards the 1.0245 level was observed during the European session. It is possible to define this move as the end of the 3 impulsive wave of the bigger 1 wave (coloured pink). Therefore, during the New York session the AUD/USD pair failed to hold this level and the price was pushed towards the 1.0178 level (end of the 5 wave). Today this currency pair is currently trading around 1.0250 level and we are expecting to see the lower price for the development of the corrective wave 2 (coloured pink).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 with Fibonacci retracements (1.0153-1.0275) with Take Profit 1 at 1.0206(61.8% of wave 1) and Take Profit 2 at 1.0183(78.6% of wave 1). Resistance point at 1.0300 can be used as Stop Loss point.
Support and Resistance Levels
(S3) 1.0113 (S2) 1.0145 (S1) 1.0165 (PP) 1.0197 (R1) 1.0229 (R2) 1.0249 (R3) 1.0281
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 1.0270 with Stop Loss at 1.0300 Take Profit 1 at 1.0206 and Take Profit 2 at 1.0183 are recommended.

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

USD/JPY Intraday Technical Levels for July 13, 2012



TODAY's TECHNICAL LEVELS:

Resistance. 3: 79.76.

Resistance. 2: 79.61.

Resistance. 1: 79.45.

Support. 1: 79.26.

Support. 2: 79.10.

Support. 3: 78.94.


DESCRIPTION:
Please, pay attention to the levels of support. 3 (78.94) and resistance. 3 (79.76), 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

EUR/JPY Pushing Lower - Analysis for July 13, 2012



EUR/JPY Elliott Wave
This week the EUR/JPY pair was trading in a downward channel developing impulsive wave 5 (coloured blue) of the bigger wave (3) (coloured green). Yesterday, during the European session, we could observe a descending movement towards the 96.40 level. Therefore, during the New York session, this currency pair did not manage to hold this level and the price started pushing higher. At the moment, the EUR/JPY pair is trading around 96.70 level, and we are expecting to see the price at 96.05 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 (101.60-98.30-101.40) with Take Profit at 96.05 (161.8% of wave 1). Resistance point at 97.00 can be used as Stop Loss point. Also it is necessary to monitor the EU Italian 10-y Bond Auction data that can change the rate of the pair.
Support and Resistance Levels
(S3) 95.57 (S2) 96.13 (S1) 96.47 (PP) 97.02 (R1) 97.58 (R2) 97.92 (R3) 98.47
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 96.60 with Stop Loss at 97.00 and Take Profit at 96.05 are recommended.

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

AUD/USD Above 1.0200 - Analysis for July 13, 2012



AUD/USD Elliott Wave
Since our last update the AUD/USD pair has finished its corrective wave (2) (coloured green) at 61.8% of the wave (1) (coloured green) and we could observe the beginning of the impulsive wave (3). Yesterday during the European and the early New York sessions, we could observe strong descending movement towards the 1.0098 level and we can consider this move as the end of the wave (2). Therefore, during the second half of the NY session, this pair started pushing higher and price reached 1.0153 (end of wave (1) (coloured pink)). At the moment, we can observe the AUD/USD pair trading around 1.0165 level and we are expecting to see the price above 1.0200 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 (1.0098-1.0153-1.0122) with Take Profit at 1.0209 (161.8% of wave 1). Support at 1.0120 point can be used as Stop Loss point. Also it is necessary to monitor the U.S. PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment and FOMC Member Lockhart Speaks data that can change the rate of the pair.
Support and Resistance
(S3) 1.0007 (S2) 1.0067 (S1) 1.0105 (PP) 1.0166 (R1) 1.0226 (R2) 1.0264 (R3) 1.0325
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 1.0170 with Stop Loss 1.0120 and Take Profit at 1.0209 are recommended.

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

USD/JPY Intraday Technical Levels for July 17, 2012



TODAY's TECHNICAL LEVELS:

Resistance. 3: 79.31.

Resistance. 2: 79.15.

Resistance. 1: 78.99.

Support. 1: 78.83.

Support. 2: 78.67.

Support. 3: 78.51.


DESCRIPTION:
Please, pay attention to the levels of support. 3 (78.51) and resistance. 3 (79.31), 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

EUR/USD Ready To Test 1.2000 Level - Weekly Wave Analysis



EUR/USD Elliott Wave
Last week the EUR/USD pair was trading in a downward move developing (3) (coloured green) of the bigger wave (5) (coloured orange). Yesterday during the Asian and European sessions, we could observe a descending movement towards the 1.2175 level. Therefore, during the early New York session, the EUR/USD pair failed to hold this level as a result the price pushed higher reaching a new daily high at 1.2289 level. Today during the Asian session, this major pair continued trading in a bullish mood and the price is currently trading around 1.2295 level. At the moment we are in the corrective (4) wave so we need to be prepared for the final (5) wave (coloured green) of the bigger (5) wave (coloured orange). 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 by measuring 1 wave with Take Profit 1 at 1.2116 (78.6% of wave 1) and Take Profit 2 at 1.2045 (100% of wave 1). Invalidation point at 1.2405 point can be used as Stop Loss point. Also it is necessary to monitor the UK CPI y/y, RPI y/y, BOE Gov King Speaks, BOE Inflation Letter, EUR German ZEW Economic Sentiment, ZEW Economic Sentiment and U.S. Core CPI m/m, CPI m/m, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m, Fed Chairman Bernanke Testifies data that can change the rate of the pair.
Support and Resistance
(S3) 1.2130 (S2) 1.2174 (S1) 1.2201 (PP) 1.2245 (R1) 1.2289 (R2) 1.2316 (R3) 1.2360
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 1.2340 with Stop Loss 1.2405, Take Profit 1 at 1.0216 and Take Profit 2 at 1.2045 are recommended.

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

AUD/USD Wave Analysis for July 17, 2012



AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in an upward move developing impulsive wave 1 (coloured blue) of the bigger wave (3) (coloured green). During the early European session we could observe a descending movement towards the 1.0204 level and we can consider this move as the end of the corrective 4 wave (coloured pink). Therefore, during the New York session the AUD/USD pair did not manage to hold this level and the price pushed higher. Today we could observe continuation of the bullish mood and the price is currently trading around 1.0300 level. 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 with Fibonacci Retracements (1.0098-1.0327) with Take Profit 1 at 1.0209 (50% of wave 1) and Take Profit 2 at 1.0183(61.8% of wave 1). Resistance point at 1.0350 can be used as Stop Loss point. Also it is necessary to monitor the U.S. Core CPI m/m, CPI m/m, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m and Fed Chairman Bernanke Testifies data that can change the rate of the pair.
Support and Resistance
(S3) 1.0179 (S2) 1.0201 (S1) 1.0214 (PP) 1.0236 (R1) 1.0258 (R2) 1.0271 (R3) 1.0293
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 1.0320 with Stop Loss 1.0350 Take Profit 1 at 1.0209 and Take Profit 2 at 1.0183 are recommended.

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