Thread: InstaForex Wave Analysis

USD/JPY Intraday Technical Levels for August 8, 2012



TODAY'S TECHNICAL LEVELS:
Resistance. 3: 78.94.
Resistance. 2: 78.78.
Resistance. 1: 78.63.
Support. 1: 78.44.
Support. 2: 78.28.
Support. 3: 78.13.

DESCRIPTION:

You should watch after the levels of support. 3 (78.13) and resistance. 3 (78.94), 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

AUD/CAD Weekly Wave Analysis 2012-08-09
[imghttp://forex-images.instaforex.com/userfiles/20120809/AUDCAD_-_Primary_Analysis_-_Aug-09_0905_AM_(4_hour).png[/img]

AUD/CAD Elliott Wave
During last month the AUD/CAD pair was trading in an upward move until Monday when impulsive (5) wave (coloured green) of the bigger wave (1) (coloured orange) finished and we could observe the price going lower for the last few days when the development of the corrective (2) wave starts. Yesterday during the European and New York sessions we could see a strong descending movement towards the 1.0498 level (new 4 days low). At the moment, the price is trading around 1.0510 level and we are expecting to find it around 1.0200 in the next few weeks. In compliance with our wave rules and keeping in mind that the wave 2 retraces 61.8% of the wave 1, we can specify the potential targets with Fibonacci retracement (0.9952-1.0593) ,Take Profit 1 at 1.0351 (38.2% of wave 1), and Take Profit 2 at 1.0200 (61.8% of wave 1). To reduce the risk, we can use resistance at 1.0590 as Stop Loss. Moreover, it is necessary to monitor the AUD Unemployment Claims, Unemployment Rate and CAD Housing Starts, NHPI m/m, Trade Balance data that can change the rate of the pair.
Support and Resistance
(S3) 1.0484 (S2) 1.0496 (S1) 1.0503 (PP) 1.0516 (R1) 1.0528 (R2) 1.0535 (R3) 1.0548
Trading Forecast
On the basis of Elliott Wave rules today, the trend is tend to begin the downward movement. For this reason short positions at level 1.0500 with Stop Loss 1.0590, Take Profit 1 1.0351, and Take Profit 2 1.0200 are recommended.

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

EUR/USD Wave Analysis for August 9,2012



EUR/USD Elliott Wave
Since our last analysis, the EUR/USD pair was trading in a downward move developing corrective wave A (coloured purple) of the bigger 2 wave (coloured blue). Yesterday during the Asian and European sessions we could observe a descending movement from 1.2400 towards the 1.2325 level and we can consider this move as the end of the A wave. Therefore, during yesterday's New York session and today ‘s Asian session this major pair did not manage to hold this level and the price started pushing higher when the development of the B wave (coloured purple) started. At the moment the EUR/USD pair is trading around 1.2345 level and we are expecting to see the price around 1.2260 level today. In accordance with our wave rules and taking into account that the wave C retraces 100% of the wave A, we can define the potential targets with Fibonacci extensions (1.2441-1.2326-1.2385) with Take Profit at 1.2261 (100% of wave A). To reduce the risk, we can use resistance at 1.2400 as Stop Loss. Also it is necessary to monitor the EU ECB Monthly Bulletin, Italian Trade Balance and U.S. Trade Balance, Unemployment Claims data that can change the rate of the pair.
Support and Resistance
(S3) 1.2288 (S2) 1.2317 (S1) 1.2335 (PP) 1.2364 (R1) 1.2393 (R2) 1.2411 (R3) 1.2440
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2340 with Stop Loss 1.2400 and Take Profit 1.2261 are recommended.

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

USD/CHF Wave Analysis for August 10,2012



USD/CHF Elliott Wave
For the last few days the USD/CHF pair was trading in an upward move developing corrective wave 2 (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the European session we could observe an ascending movement towards the 0.9760 level (new 4 days high). Therefore, during the New York session this major pair continued trading in a bullish mood and price reached 0.9790 level. At the moment, the USD/CHF pair is developing a corrective C wave of the bigger 2 wave (coloured blue) and we are expecting to see the price around 0.9415 level 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 (0.9897-0.9656-0.9795) with Take Profit at 0.9416 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 0.9897 as Stop Loss. Also it is necessary to monitor the U.S. Import prices m/m, Federal Budget Balance data that can change the rate of the pair.
Support and Resistance
(S3) 0.9656 (S2) 0.9691 (S1) 0.9713 (PP) 0.9749 (R1) 0.9784 (R2) 0.9806 (R3) 0.9842
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9765 with Stop Loss 0.9897 and Take Profit 0.9416 are recommended.

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

EUR/USD Ready To Push Higher - Analysis for August 10,2012



EUR/USD Elliott Wave
Since our last analysis the EUR/USD pair was trading in a downward move like we expected, this major pair is currently developing final C wave (coloured purple) of the bigger corrective wave 2 (coloured blue). Yesterday during the European and New York sessions we could observe a strong descending movement towards the 1.2266 level. At the moment the EUR/USD pair is trading around 1.2260 level and we are expecting to see price higher today when the development of the impulsive 3 wave (coloured blue) starts. 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 (1.2133-1.2441-1.2259) with Take Profit 1 at 1.2563 (100% of wave 1) and Take Profit 2 at 1.2759. To reduce the risk, we can use invalidation point at 1.2133 as Stop Loss. Also it is necessary to monitor the EU French Industrial Production m/m, French Gov Budget Balance and U.S. Import Prices m/m, Federal Budget Balance data that can change the rate of the pair.
Support and Resistance
(S3) 1.2198 (S2) 1.2245 (S1) 1.2273 (PP) 1.2319 (R1) 1.2366 (R2) 1.2394 (R3) 1.2440
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2310 with Stop Loss 1.2133, Take Profit 1 1.2563 and Take Profit 2 1.2759 are recommended.

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

USD/JPY Intraday Technical Levels for August 13, 2012



TODAY'S TECHNICAL LEVELS:

Resistance. 3: 78.67.

Resistance. 2: 78.52.

Resistance. 1: 78.36.

Support. 1: 78.17.

Support. 2: 78.01.

Support. 3: 77.85.


DESCRIPTION:
Please, pay attention to the levels of support. 3 (77.85) and resistance. 3 (78.67), 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 Wave Analysis for August 13,2012



EUR/USD Elliott Wave
Last week the EUR/USD pair was trading in downward move, developing corrective 2 wave (coloured blue) of the bigger (3) wave (coloured green). During the Friday's European and early New York sessions we could observe a strong descending movement from 1.2305 towards the 1.2240 level and we can consider this move as the end of the 2 wave (coloured green). Therefore, during the second half of the NY session, the EUR/USD retraced back to the 1.2315 (new daily high). At the moment this major pair is trading around 1.2280 level and we are expecting to see the price around 1.2750 level this 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 (1.2133-1.2441-1.2259) with Take Profit 1 at 1.2558 (100% of wave 1) and Take Profit 2 at 1.2754 (161.8% of wave 1) To reduce the risk, we can use invalidation point at 1.2133 as Stop Loss.
Support and Resistance
(S3) 1.2207 (S2) 1.2236 (S1) 1.2253 (PP) 1.2282 (R1) 1.2311 (R2) 1.2328 (R3) 1.2357
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2300 with Stop Loss 1.2133, Take Profit 1 1.2558 and Take Profit 2 1.2558 are recommended.

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

GBP/JPY Wave Analysis for August 13,2012



GBP/JPY Elliott Wave
For the last few days the GBP/JPY pair was trading in a sideways move developing corrective wave 2 (coloured blue) of the bigger impulsive (3) wave (coloured green). During the Friday's Asian and European sessions we could observe a descending movement towards the 121.73 support level, and we can consider this move as the end of the corrective 2 wave (coloured green). Therefore, during the New York session this exotic currency did not manage to hold this level and the price started pushing higher when the development of the impulsive 3 wave (coloured blue) begun. 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 (121.03-123.20-121.73) with Take Profit 1 at 123.82(100% of wave 1) and Take Profit 2 at 125.08 (161.8% of wave 1) To reduce the risk, we can use support point at 121.70 as Stop Loss.
Support and Resistance
(S3) 121.34 (S2) 121.78 (S1) 122.05 (PP) 122.49 (R1) 122.93 (R2) 123.20 (R3) 123.64
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 122.60 with Stop Loss 121.70 Take Profit 1 123.82 and Take Profit 2 125.08 are recommended.

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

EUR/JPY Wave Analysis for August 14,2012



EUR/JPY Elliott Wave
Last week the EUR/JPY pair was trading in a downward move developing corrective 2 wave (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the European session we could observe an ascending movement towards the 96.55 level. Therefore, during the New York session this currency pair continued trading in a bullish mood and the price reached a new 2-day high at 96.90 level. Today the EUR/JPY pair is trading around 97.00 level and we are expecting to see the price above 100.00 this 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 (94.92-97.80-95.70) with Take Profit 1 at 98.54 (100% of wave 1) and Take Profit 2 at 100.30 (161.8% of wave 1) To reduce the risk, we can use support point at 95.70 as Stop Loss.
Support and Resistance
(S3) 95.50 (S2) 95.87 (S1) 96.10 (PP) 96.47 (R1) 96.84 (R2) 97.07 (R3) 97.44
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 97.35 with Stop Loss 95.70, Take Profit 1 98.54 and Take Profit 2 100.30 are recommended.

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

EUR/USD Wave Analysis for August 14,2012



EUR/USD Elliott Wave
Since our last analysis, the EUR/USD pair was trading in an upward move, like we expected, developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green). During the European and the first half of the New York sessions we could observe an ascending movement from 1.2270 towards the 1.2373 level. Therefore, during the second half of the NY session this major pair did not manage to hold this level and the price slipped towards the 1.2325 level. At the moment the EUR/USD pair is testing yesterday’s high and we are expecting to see continuation of the bullish mood 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 (1.2133-1.2441-1.2259) with Take Profit 1 at 1.2558 (100% of wave 1) and Take Profit 2 at 1.2754 (161.8% of wave 1). To reduce the risk, we can use support point at 1.2240 as Stop Loss.
Support and Resistance
(S3) 1.2208 (S2) 1.2251 (S1) 1.2278 (PP) 1.2321 (R1) 1.2364 (R2) 1.2391 (R3) 1.2434
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2375 with Stop Loss 1.2240, Take Profit 1 1.2558 and Take Profit 2 1.2558 are recommended.

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