Thread: InstaForex Wave Analysis

USD/CHF technical analysis for June 21, 2013



Overview:
USD/CHF: The price has still been trapped between 0.9275 - 0.9300 as well as it has been set below strong resistance at the level of 0.9420 (this level is formed at the weekly pivot point for June 17 - 21, 2013). Additionally, it should be noted that these levels are coinciding between 23.6% and 00% of Fibonacci retracement levels in the H1 chart and the pair has already formed a strong resistance at this level of 0.9403 and it is now about to test it. Therefore, the Swiss franc will have a downside momentum which is rather convincing and the structure of the fall looks non-corrective. Moreover, the decline from 0.9403 should be resumed to 0.9185 (strong support will be set at 0.9185). In order to indicate a bearish opportunity below 0.9403, it will be a good sign to sell below 0.9400 with the first target at 0.9290 and it will call for the downtrend in order to continue a bearish movement towards 0.9228 (00% of Fibonacci retracement levels in the H1 chart). Furthermore, it also should be mentioned that the price at 0.9222 will possible form a double bottom and call for a strong support. Hence, saturation around 0.9185 will rebound the pair; meanwhile, it will probably show that the market is going to start showing the signs of a bullish trend. In other words, it will be a good sign to buy above 0.9185 with the first target of 0.9300 and continue towards 0.9380.

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EUR/JPY technical analysis for June 24, 2013



For today, EUR/JPY seems to have got a bullish momentum again, but the momentum is not strong enough because we spotted that EUR/JPY has already touch the EMA (100), this means the weak signal of the current trend (bullish), so please be prepared for unexpected reversal moves on this currency.


RECOMMENDATION:
Buy stop (pending order) at 129.26.
Take profit at 129.40.
Stop loss at 129.16.

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USD/CHF technical analysis for June 26, 2013



Overview:
USD/CHF's subsequent sharp fall suggests that decline from 0.9579 had resumed to test 0.9382. Therefore, the pair has already formed a strong support at the psychological level of 0.9130. It should be noted that the price has still been trapped between 0.9310 and 0.9220. Moreover, it couldn't close below this psychological level, while the price has been set above it for two weeks, hence the market started showing bullish signs. Consequently, it is a good sign to buy above 0.9130 with the first target of 0.9118 (Pivot point), and continue towards 0.9490. However, If the trend breaks this level and closes below it (0.9480), it will be a downside momentum. The structure of the fall does not look corrective, hence the market will indicate a bearish opportunity below 0.9480, subsequently the support will be become a resistance. It will be a good sign to sell below 0.9480 with the target at 0.9420. Further, it will be resumed towards 0.9132 in order to form a double bottom.

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AUD/USD - Buy above 0.9341 - daily strategy for June 27, 2013



Yesterday the Australian dollar overcame 0.9294 area. After three attempts to break it, this pair at the moment is trading at 0.9322. Now it must face the 0.9341 area. A closure 4H chart above this level will open the way to the area of 0.9519, psychological level. It is the first weekly resistance. This morning during the American session, there will be data, which certainly will give strength to the U.S. dollar. On the other hand, China's economy is slowing, because of this, Australia is lagging with all the raw material used to be exported in large quantities. Also the price of gold is affecting this pair. The fact that today in the early hours of the day it reached the level of $1,222 per an ounce of gold is weakening the strength of the Aussie. On the other hand, people have begun to worry because the RBA will need to cut rates in the near term. However, we recommend you to buy this pair only if the price of the pair exceeds the 0.9341 area in 4H charts with objectives to the level of 0.9480.


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EUR/JPY technical analysis for June 28, 2013




Since the 128.00 level was already breached yesterday, EUR/JPY started a new direction, now this currency is about to head up: all the three moving averages make a Golden Cross pattern.


RECOMMENDATION:
Buy stop (pending order) at 129.51.
Take profit at 129.65.
Stop loss at 129.41.

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EUR/JPY technical analysis for July 1, 2013

The EUR/JPY is still in the uptrend movement now; this fact has been already indicated by all the three "Golden Cross" chart patterns created by Moving Averages. As long as the retrachement from the EUR/JPY do not touch the EMA 100 (Green), the uptrend situation will continue.

RECOMMENDATION:
BUY Stop (Pending Order) @ 129.51.
Take Profit @ 129.65.
Stop Loss @ 129.41.

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EUR/JPY technical analysis for July 2, 2013





If we look at the chart, all the three moving averages forming Golden Cross pattern are still pointing to the fact that the uptrend situation is still continuing for EUR/JPY; however, this currency pair must have a small retracement as the element from the healthy uptrend; as long as the retracement does not touch the 129.00 and/or the EMA 100 (green); the uptrend situation for EUR/JPY is still in place.


RECOMMENDATION:
Buy stop (pending order) at 130.26.
Take profit at 130.40.
Stop loss at 130.16.

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EUR/JPY technical analysis for July 4, 2013

Yesterday, EUR/JPY already breached bellow the EMA 100 (green) and went back above the EMA 100 (green) again. The bullish situation has already slowed down and the EMA 14 (red) is now between the EMA 34 (blue) and the EMA 100 (green). It indicates that EUR/JPY is now in the ranging situation.


RECOMMENDATION:
BUY Stop (Pending Order) @ 130.01.
Take Profit @ 130.15.
Stop Loss @ 129.91

Alternative:

Sell stop (pending order) at 129.46.
Take profit at 129.35.
Stop loss at 129.56.


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EUR/JPY technical analysis for July 5, 2013

Yesterday the EUR/JPY confirm change the course to the downside, this indicated by the candlestick already breach bellow the EMA 100(green); however on 30 minute charts they form the triangle pattern that indicates that there is decreased volatility and the market turns to be "choppy". This kind of market situation usually happens amid such important news as the US Non Farm Payrolls and the US Unemployment Rate, released every first Friday. So be cautious with this news release tonight. It is better to close all the positions one hour before the news release.


RECOMMENDATION :
No trades for today.


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USD/CAD technical analysis for July 9, 2013





Overview:
The resistance of the pair USD/CAD sets at the level of 1.0585, therefore the bears are going to sell below 1.0608 because there is a double top on the price 1.0608. It should also be noted that the resistance sets at the level of 1.0585, thus swing trade at 1.0608/1.0585 in order to sell with the target of 1.0480, it might resume to 1.0435. Additionally, the trend will call for a bearish market on the level of 1.0585, there is a bearish channel. It might be informing that the stop loss should never exceed your maximum exposure amounts. Hence, set a stop loss above 1.0640. However, the USD/CAD pair has still been trapped between 1.0375 (61.8% of Fibonacci retracement levels) and 1.0555 (100% of Fibonacci retracement levels). At the same time, the support sets at the level of 1.0400, then the bulls are going to buy above 1.0400 with the first target of 1.0483, it might resume to 1.0540.

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