Thread: InstaForex Wave Analysis

EUR/USD Wave Analysis July 24, 2012



EUR/USD Elliott Wave
Since our Last analysis the EUR/USD pair was trading in an upward move developing corrective wave 4 (coloured blue) of the bigger (5) wave (coloured green). During the early European session we could observe a descending movement towards the 1.2070 level and we can consider this move as the end of the impulsive 3 wave (coloured blue). Therefore, during the New York session this major pair started pushing higher and price filled Monday gap at 1.2148 level and we can regard this move as the end of the 4 wave (coloured blue). Today the EUR/USD pair started pushing lower developing final 5 wave (coloured blue) of the bigger (5) wave (coloured green). 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 at 1.1983 (100% of wave 1). Resistance at 1.2150 point can be used as Stop Loss. Also it is necessary to monitor the EU German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI, BBA Mortgage Approvals and U.S. Fed Chairman Bernanke Speaks, Flash Manufacturing PMI data that can change the rate of the pair.
Support and Resistance
(S3) 1.2032 (S2) 1.2061 (S1) 1.2080 (PP) 1.2109 (R1) 1.2138 (R2) 1.2157 (R3) 1.2186
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2100 with Stop Loss 1.2150 and Take Profit at 1.1983 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 25, 2012



Today’s Technical Levels:
Resistance 3: 78.55.
Resistance 2: 78.39.
Resistance 1: 78.24.
Support 1: 78.06.
Support 2: 77.90.
Support 3: 77.74.
Description:
Please, pay attention to the levels of support 3 (77.74) and resistance 3 (78.55). In general, when a level is touched, USD/JPY will rebound from the previous minimum by10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found their trends today.

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

USD/CAD Wave Analysis for July 25, 2012



USD/CAD Elliott Wave
For the last few days the USD/CAD pair was trading in an upward move from 1.0065 level developing impulsive wave 1 (coloured blue) of the bigger wave (1) (coloured green). Yesterday, during the European and early New York sessions, we could observe a descending movement towards the 1.0156 level. Therefore, during the second half of the NY session, the USD/CAD pair failed to hold this level and the price reached 1.0226 level. Today, during the early Asian session, this major pair finished developing of the impulsive wave 1 (coloured blue) at 1.0230 level and we are expecting to see the price trading in bearish mood for the next few days. 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 (1.0065-1.0230) with Take Profit at 1.0128 (61.8% of wave 1). End of the wave 1 at 1.0230 level can be used as Stop Loss. Also it is necessary to monitor the U.S. New Home Sales, Treasury Sec Geithner Speaks, Crude Oil Inventories data that can change the rate of the pair.
Support and Resistance
(S3) 1.0107 (S2) 1.0132 (S1) 1.0176 (PP) 1.0201 (R1) 1.0245 (R2) 1.0270 (R3) 1.0314
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0200 with Stop Loss 1.0230 and Take Profit at 1.0128 are recommended.

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

EUR/USD Wave Analysis for July 25, 2012



EUR/USD Elliott Wave
Since our last analysis the EUR/USD pair was trading in a downward move as we predicted yesterday. During the European and New York sessions we could observe a descending movement from 1.2140 towards the 1.02043 level. Today this major pair did not manage to hold yesterday’s bearish mood and the price started pushing higher reaching a new daily high at 1.2082 level. The EUR/USD pair is currently developing last impulsive wave 5 (coloured blue) of the bigger wave (5) (coloured green) and we are expecting to see price at 1.2000 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 by measuring 1 wave with Take Profit at 1.1983 (100% of wave 1). Resistance at 1.2125 point can be used as Stop Loss. Also it is necessary to monitor the EU German Ifo Business Climate, Prelim GDP q/q, Belgium NBB Business Climate and U.S. New Home Sales, Treasury Sec Geithner Speaks, Crude Oil Inventories data that can change the rate of the pair.
Support and Resistance
(S3) 1.1928 (S2) 1.1928 (S1) 1.2023 (PP) 1.2080 (R1) 1.2118 (R2) 1.2175 (R3) 1.2213
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2080 with Stop Loss 1.2125 and Take Profit at 1.1983 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 27, 2012



Today’s Technical Levels:
Resistance 3: 78.51.
Resistance 2: 78.35.
Resistance 1: 78.20.
Support 1: 78.02.
Support 2: 77.86.
Support 3: 77.70.
Description:
Please, pay attention to the levels of support 3 (77.70) and resistance 3 (78.51), in general, when a level is touched, USD/JPY will rebound from the previous minimum by10 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

AUD/USD Wave Analysis for July 27, 2012



AUD/USD Elliott Wave
For the last 2 days the AUD/USD pair was trading in a upward move developing impulsive wave 3 (coloured blue) of the bigger wave (3) (coloured green). Yesterday during the Asian and European, session we could observe a strong ascending move towards the 1.0420 level. Therefore, during the second half of the New York session, the AUD/USD pair did not manage to hold this level and the price started trading in a sideways move. Presently we can observe the developing of the impulsive wave (3) 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 (1.0145-1.0443-1.0176) with Take Profit 1 at 1.0650 (138.2% of wave 1) and Take Profit 2 at 1.0731(161.8% of wave 1). Support at 1.0400 can be used as Stop Loss. Also it is necessary to monitor the
U.S. Advance GDP q/q, Advance GDP Price Index q/q and Revised UoM Consumer Sentiment data that can change the rate of the pair.
Support and Resistance
(S3) 1.0239 (S2) 1.0289 (S1) 1.0320 (PP) 1.0370 (R1) 1.0420 (R2) 1.0451 (R3) 1.0501
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0450 with Stop Loss 1.0400 Take Profit 1 at 1.0650 and Take Profit 2 at 1.0731 are recommended.

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

USD/CHF Wave Analysis for July 27, 2012



USD/CHF Elliott Wave
Yesterday we preformed a long term analysis for the USD/CHF pair and today we would like to examine a short time frame for intraday traders. Yesterday during the early European session, we could observe a strong downward move that brought this major pair to the new 6 day low at 0.9740 level. Therefore, during the New York session the USD/CHF failed to hold this level and the price started pushing higher. Today during the Asian session, the Dollar/Swiss pair was trading in a sideways move developing corrective wave 4 (coloured blue) of the bigger impulse wave (1) (coloured green) and we are expecting to see continuation of the yesterdays bearish mood. In accordance with our wave rules and taking into account that the wave 5 usually retraces 100% of the wave 1, we can define the potential by measuring 1 wave, with Take Profit 1 at 0.9688 (100% of wave 1) and Take Profit 2 at 0.9628 (161.8% of wave 1). Resistance at 0.9815 level can be used as Stop Loss. Also it is necessary to monitor the Swiss KOF Economic Barometer and U.S. Advance GDP q/q, Advance GDP Price Index q/q, Revised UoM Consumer Sentiment data that can change the rate of the pair.
Support and Resistance
(S3) 0.9640 (S2) 0.9705 (S1) 0.9744 (PP) 0.9809 (R1) 0.9874 (R2) 0.9913 (R3) 0.9978
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9755 with Stop Loss 0.9815 Take Profit 1 at 0.9688 and Take Profit 2 at 0.9628 are recommended.

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

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USD/JPY Intraday Technical Levels for Jully 30, 2012



Today’s Technical Levels:
Resistance 3: 78.83.
Resistance 2: 78.68.
Resistance 1: 78.52.
Support 1: 78.33.
Support 2: 78.18.
Support 3: 78.02.
Description:
Please, pay attention to the levels of support 3 (78.02) and resistance 3 (78.83). In general, when a level is touched, USD/JPY will rebound from the previous minimum by10 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

AUD/USD Wave Analysis for July 30, 2012



AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in an upward move, developing impulsive wave 3 (coloured blue) of the bigger wave (3) (coloured green). During the Friday's Asian and European sessions we could observe an ascending movement towards the 1.0445 level. Therefore, during the New York session the AUD/USD pair continued trading in a bullish mood and price reached a new 13 weeks high at 1.0485 level. At the moment price is trading in a sideways move and we are expecting to see the 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 (1.0145-1.0443-1.0176) with Take Profit 1 at 1.0650 (138.2% of wave 1) and Take Profit 2 at 1.0731(161.8% of wave 1). Support at 1.0420 can be used as Stop Loss.
Support and Resistance
(S3) 1.0347 (S2) 1.0386 (S1) 1.0410 (PP) 1.0449 (R1) 1.0488 (R2) 1.0512 (R3) 1.0551
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0485 with Stop Loss 1.0420 Take Profit 1 at 1.0650 and Take Profit 2 at 1.0731 are recommended.

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