Thread: InstaForex Wave Analysis

USD/CAD Wave Analysis for September 10, 2012 USD/CAD Elliott Wave Since our last analysis the USD/CAD pair was trading in a downward move, developing extended 5 wave (coloured blue) of the bigger wave (1) (coloured green). During the Friday's Asian session we could observe a descending movement from 0.0935 towards the 0.9804 level and we can consider this move as the end of the wave 1 of the bigger wave 5 (coloured blue). Therefore, during the early European session the USD/CAD pair did not manage to hold this level and the price retraced back to 0.9827 level (end of the 2 wave). At the moment price is trading around 0.9780 level and we are expecting to see it higher when developing the (2) wave (coloured green) starts. In accordance with our wave rules and taking into account that the wave 2 should retrace 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (0.9917-0.9755), with Take Profit at 0.9852 (61.8% of wave 1). To reduce the risk, we can use support 0.9750 as Stop Loss. Also it is necessary to monitor the U.S Consumer Credit m/m data that can change the rate of the pair. Support and Resistance (S3) 0.9725 (S2) 0.9752 (S1) 0.9768 (PP) 0.9794 (R1) 0.9821 (R2) 0.9837 (R3) 0.9863 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin its upward movement. That is why long positions at level 0.9775 with Stop Loss 0.9750 and Take Profit at 0.9852 are recommended. Performed by Nicola Delic, Analytical expert InstaForex Companies Group © 2007-2012 More analysis - at instaforex.com

EUR/JPY Wave Analysis for September 10, 2012



EUR/JPY Elliott Wave
Last week the EUR/JPY pair was trading in an upward move, developing impulsive 5 wave (coloured purple) of the bigger wave 3 (coloured blue). During the Friday's Asian and European sessions we could observe a strong ascending move from 99.60 towards 100.42 level and we can consider this move as the end of the impulsive 3 wave (coloured blue). Therefore, during the New York session when development of the 4 wave (coloured blue) starts we could observe the price pushing lower. Today the EUR/JPY pair was trading around 100.00 level and we are expecting to see the price around 99.30 soon. In accordance with our wave rules and taking into account that the wave 4 should retrace 100% of the wave 2, we can define the potential targets with measuring 2 wave, with Take Profit 1 at 99.12 (61.8% of wave 2) and Take Profit 2 at 98.32 (100% of wave 2). To reduce the risk, we can use resistance at 100.45 as Stop Loss. Also it is necessary to monitor the JPY Household Confidence, Economy Watchers Sentiment, BSI Manufacturing Index, M2 Money Stock y/y and EU French Industrial Production m/m, Sentix Investor Confidence data that can change the rate of the pair.
Support and Resistance
(S3) 99.25 (S2) 99.57 (S1) 99.77 (PP) 100.09 (R1) 100.41 (R2) 100.61 (R3) 100.93
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 99.95 with Stop Loss 100.45, Take Profit 1 at 99.12, and Take Profit 2 at 98.32 are recommended.

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

USD/CAD Wave Analysis for September 11, 2012



USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in a downward move, developing final (5) wave (coloured purple) of the bigger 5 wave (coloured blue). Yesterday during the Asian and European sessions we could observe the price trading in a sideways move between 0.9775 and 0.9789 level. Therefore, during the early New York session, the USD/CAD pair did not manage to hold this levels and price started pushing lower reaching a new daily low at 09755 level. At the moment, price is trading around 0.9755 level and we are expecting to see the price higher when 5 smaller wave of the bigger (5) wave (coloured purple) is over. 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 (0.9917-0.9720) with Take Profit at 0.9837 (61.8% of wave 1). Support at 0.9700 can be used as Stop Loss.
Support and Resistance
(S3) 0.9723 (S2) 0.9738 (S1) 0.9757 (PP) 0.9772 (R1) 0.9791 (R2) 0.9806 (R3) 0.9825
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9750 with Stop Loss 0.9700 and Take Profit 0.9837 are recommended.

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

AUD/USD Wave Analysis for September 11, 2012



AUD/USD Elliott Wave
Last week the AUD/USD pair was trading in a� upward move, developing corrective (B) wave (coloured green) of the bigger wave (E) (coloured orange). Yesterday during the European and New York session� we could observe a descending movement from 1.0385 towards the 1.0333 level. Therefore, during the second half of the NY session the AUD/USD pair tried to recover but after testing of 1.0368 resistance level, the price fell back to 1.0333 level. Today during the early Asian session we could observe the price around 1.0320 level and we can consider that move as the end of the corrective B wave (coloured blue) of the bigger (B) wave (coloured green). At the moment the AUD/USD pair is developing final C wave (coloured blue) and we are expecting to see the price around 1.0465 level soon. In accordance with our wave rules and taking into account that the wave C retraces 61.8% of the wave A, we can define the potential targets with Fibonacci extensions (1.0166-1.0399-1.0322) with Take Profit at 1.0466 (61.8% of wave A). Support at 1.0320 can be used as Stop Loss.
Support and Resistance
(S3) 1.0264 (S2) 1.0299 (S1) 1.0316 (PP) 1.0351 (R1) 1.0368 (R2) 1.0403 (R3) 1.0420
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0390 with Stop Loss 1.0320 and Take Profit 1.0466 are recommended

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

EUR/JPY - Elliott Wave Analysis for September 12 - 2012



Today's Support and Resistance Levels:

S1: 99.84 R1: 100.32

S2: 99.52 R2: 100.60

S3: 99.18 R3: 100.90



Technical Overview:

We saw the expected minor correction down to 99.52 yesterday and should now be ready for the last push higher towards the ideal target at 100.60. A test of 100.60 will likely mark the top of red wave 5 and black wave 3 and we should then be looking for black wave 4 down towards 98.40 and likely even 97.72 as black wave 4 corrects black wave 3 and sets us up for the last impulsive rally towards the 101.40 - 101.60 area.

In short-term we should expect support at 99.84 and again at 99.52.



Trading Recommendation:

We will sell EUR against JPY at 100.55 or at 99.45 (one order cancels the other) With a stop at 100.90 and take profit at 97.90.

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

USD/CAD Wave Analysis for September 12, 2012



USD/CAD Elliott Wave
For the last few days the USD/CAD pair was trading in a downward move, developing 5 wave (coloured blue) of the bigger (1) wave (coloured green). Yesterday, during the European and New York sessions, we could observe a strong descending move towards the 0.9713 level and we can consider this move as the end of the (1) wave (coloured green). Today, during the early Asian session, the USD/CAD pair started pushing higher and the price reached 0.9738 level. At the moment this major pair is developing impulsive (3) wave (coloured purple) of the bigger wave A (coloured blue) 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 261.8% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9713-0.9735-0.9714) with Take Profit at 0.9773 (261.8% of wave 1). Invalidation Point at 0.9714 can be used as Stop Loss.
Support and Resistance
(S3) 0.9640 (S2) 0.9677 (S1) 0.9704 (PP) 0.9741 (R1) 0.9768 (R2) 0.9805 (R3) 0.9832
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9740 with Stop Loss 0.9714 and Take Profit 0.9773 are recommended.

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

AUD/USD Weekly Wave Analysis 2012-09-12



AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in an upward move just as we expected, developing final corrective (C) wave (coloured blue) of the bigger wave (B) (coloured green). During the Asian and European sessions we could observe an ascending movement from 1.0320 towards the 1.0382 (new daily high) level. Therefore, during the New York session, the AUD/USD pair continued trading in a bullish mood and the price reached 1.0448 level. At the moment we can observe the end of the (B) wave (coloured green) and we are expecting to see the price lower for the next few days when the development of (C) wave (coloured green) starts. In accordance with our wave rules and taking into account that the wave C retraces 161.8% of the wave A, we can define the potential targets with Fibonacci extensions (1.0612-1.0166-1.0510) with Take Profit at 0.9807 (100% of wave A). Resistance at 1.0600 can be used as Stop Loss.
Support and Resistance
(S3) 1.0228 (S2) 1.0276 (S1) 1.0354 (PP) 1.0402 (R1) 1.0480 (R2) 1.0528 (R3) 1.0606
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at the level of 1.0450 with Stop Loss at 1.0600 and Take Profit at 0.9807 are recommended.

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

USD/CAD Wave Analysis for September 13, 2012



USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in a upward move, developing impulsive (3) wave (coloured purple) of the bigger A wave (coloured blue). Yesterday, during the Asian and European sessions, we could observe an ascending movement from 0.9714 towards the 0.9744 level. Therefore, during the New York session, this major pair continued trading in a bullish mood and the price reached 0.9768 level (new daily high). At the moment, the USD/CAD pair is developing final (5) wave (coloured purple) and we are expecting to see the price around 0.9750 level today. In accordance with our wave rules and taking into account that the wave B retraces 61.8% of the wave A, we can define the potential targets with Fibonacci retracements (0.9713-0.9790) with Take Profit at 0.9745 (61.8% of wave A). Resistance Point at 0.9800 can be used as Stop Loss.
Support and Resistance
(S3) 0.9695 (S2) 0.9715 (S1) 0.9727 (PP) 0.9748 (R1) 0.9768 (R2) 0.9780 (R3) 0.9801
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9790 with Stop Loss 0.9800 and Take Profit 0.9745 are recommended.

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

AUD/USD Wave Analysis for September 12, 2012



AUD/USD Elliott Wave
Yesterday, the AUD/USD pair was trading upward move, developing final C wave (coloured blue) of the bigger wave (B) (coloured green). During the European session, we could observe a strong ascending movement towards the 1.0504 level and we can consider this move as the end of the (B) wave. Therefore, during the early New York session, the AUD/USD pair did not manage to hold this level and the price started pushing lower when the development of the final (C) wave started. At the moment, this pair was trading around 1.0450 level and we are expecting to see the price lower 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 (1.0504-1.0440-1.0487) with Take Profit at 1.0383 (161.8% of wave 1). Resistance Point at 1.0470 can be used as Stop Loss.
Support and Resistance
(S3) 1.0387 (S2) 1.0417 (S1) 1.0436 (PP) 1.0466 (R1) 1.0496 (R2) 1.0515 (R3) 1.0545
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0440 with Stop Loss 1.0370 and Take Profit 1.0383 are recommended.ke Profit at 0.9807 are recommended.

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

AUD/USD Wave Analysis for September 18,2012





AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in a downward move like we expected, developing final (C) wave (coloured orange)of the bigger E wave (coloured purple).Yesterday during the Asian session, we could observe a descending movement from 1.0556 towards the 1.0515 level. Therefore, during the European and New York sessions, this major pair continued trading in a bearish mood and the price reached a new 2 days low at 1.0455 level. At the moment, the AUD/USD pair is still trading in a downward move and we are expecting to see the price around 0.9824 level in the next few weeks. In accordance with our wave rules and taking into account that the wave E should retrace 61.8% of the wave C, we can define the potential targets with measuring C wave, with Take Profit 1 at 0.9974(50% of wave C) and Take Profit 2 at 0.9824 (61.8% of wave C). To reduce the risk, we can use invalidation at 1.0620 level as Stop Loss.
Support and Resistance
(S3) 1.0394 (S2) 1.0433 (S1) 1.0457 (PP) 1.0495 (R1) 1.0534 (R2) 1.0558 (R3) 1.0596
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0410 with Stop Loss 1.0620 ,Take Profit 1 at 0.9974 and Take Profit 2 at 0.9824 are recommended.


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