Thread: InstaForex Wave Analysis

USD/CAD candlestick analysis for March 25, 2011

Support levels: 0.9650, 0.9600, 0.9550
Resistance levels: 1.0000, 1.0057, 1.0212

On a 4-hour graph the USD/CAD is still in a downtrend. At the moment the viewpoint at the pair remains bearish.
As mentioned before, break of the 0.9810 support level will initiate downside movement to 0.9650 with 0.9600 as further target.
If a reversal takes place and the USD/CAD breaks the 1.0000 resistance level, further advance to 1.0212 should be expected. Further break of the 1.0380 level will denote that the rollback from 1.0680 is completed and further growth should be expected.
In the midterm the breakout of the support level at 0.9930 indicated continuing midterm downtrend from 1.3063 (2009 high) with 0.9700 as a target. However, this downside movement is probably a correction, and a strong support level is located near 0.9056-0.9700.
Thus, if a reversal takes place, the breakout of 1.0851 will prove the downtrend broken through from 1.3063. In this case the USD/CAD is expected to go up to the resistance level 1.1126 with 1.1866 as the next target.


Support levels: 0.9650, 0.9600, 0.9550
Resistance levels: 1.0000, 1.0057, 1.0212

Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com

EUR/USD candlestick analysis for March 25, 2011

The bulls took advantage of a slight decline and pushed the EUR/USD pair up again. The pair might test the resistance level 1.4278 in the nearest time.
Earlier on a daily graph the EUR/USD pair formed a Bullish Engulfing candlestick combination, indicating upside movement.
This combination shows that the pair was advancing during several weeks. However, a rollback took place near the 1.4035 level, which provided another buy opportunity.
Further upside movement is supported by the fact that the uptrend remains.
Break of the resistance level 1.4035 proves this viewpoint. Now we should expect upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss should be placed slightly below 1.3850 as a break of this level will denote that the uptrend is broken.


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com

NZD/USD candlestick analysis for March 25, 2011

The NZD/USD currency pair is advancing further after it successfully broke the Fibonacci correction level 50.0.
Earlier on a 4-hour graph the NZD/USD pair formed an Inverted Hammer candlestick, indicating upside movement.
This candlestick was formed after the decline of the currency pair was limited near 0.7160, which denotes that the bears could not solidify here and the bulls started to increase their influence.
Break of the Fibonacci correction level 23.6 proves this viewpoint. Now we should expect upside movement to the Fibonacci correction level 50.0, where the resistance level 0.7660 is also located.
Stop loss should be placed slightly below 0.7330, since its break will allow the pair to reach 0.7121. 


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com

GBP/USD Around the Trend Line March 25, 2011 (Daily Strategy)





GBP/USD

The British Pound - United States dollar pair, from his maximum at 1.6400 has been a

correction to its first weekly support around 1.6056, at this level the pair has found his

daily trend line,

if the pair closes in 4 hour candles, above 1.6180 will be next week by negotiating with an

upward trend or target the 1.6340 to 1.6400.But if the pair closed this trading day, down

from 1.6045 the next week the pair will turn very bearish, which could carry to the strong

support around 1.5870.





Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011


More analysis - at

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GOLD Bearish Outlook, March 25, 2011 (Daily Strategy)






GOLD

Yesterday, gold has made ‹‹a maximum in 1447 dollars per ounce, then correct, according to

our table pivots gold has met strong resistance in 1444, is important to note the formation

of a pattern called the butterfly, which has a bearish performance.

Believe that if gold fails to break this level and close above this, therefore recommend a

daily close below 1444 would be a good opportunity to sell as the first target until the

monthly pivot around the level of 1389, and final goal in 1337 dollars per ounce.







Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011

More analysis - at

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USD/CHF wave analysis for March 25, 2011








As expected, the USD/CHF currency pair passed the 38.2% correction level, started to

decline and fell by almost a figure by the end of the day. Therefore, we can suppose that

in case of development of the new maintrend downside section, yesterday’s high 0.9123 will

complete the estimated 4th wave (in the 5th). At the same time, the first possible tarhet

for this 5th wave (in the 5th) might be the 0.8930-0.8320 level.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011


More analysis - at

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EUR/USD wave analysis for March 25, 2011






As expected, the EUR/USD price declined to correction level 50.0% and made an attempt to

resume upside movement in the direction of early highs. Thus, yesterday’s testing of the

1.4060 level has probably indicated the completion of the 4th wave, in the 3rd (in the 3rd,

or C). If so, the development of the 5th wave in this 3rd will be directed to the first

target level 1.4260.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011


More analysis - at

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GBP/JPY Elliott wave count and Fibonacci levels - March 28, 2011

The GBP/JPY is developing corrective subwave B (colored magenta in the chart) within wave A of medium term uptrend - colored royal blue in the chart. The targets of the downmove are Fibonacci retracements of 126.02-133.04, 122.49-133.04.
Supports:
- 129.53 = .50 ret
- 129.01 = .382 ret
- 128.70 = .618 ret
- etc.
If the price keeps advancing the immediate resistances will be Fibonacci retracements of 133.04-130.19.
Resistances:
- 131.28 = .382 ret
- 131.62 = .50 ret
- 131.95 = .618 ret

Overbought/Oversold
Assuming that the medium term (corrective subwave B) is down it's preferable to look for shorts when the Detrended Oscillator gets above the zero level (current prices), or into the overbought area (10-20 pips above the current price), or wait for a stronger retracement to one of the Fib resistances above.

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com

AUD/USD Elliott wave count and Fibonacci levels - March 28, 2011

The AUD/USD has developed five subwaves (colored orange red in the chart) within wave 5 of medium term uptrend - colored red in the chart. The targets of the upmove are Fibonacci expansions off 0.9784-1.0155-1.0064, 1.0064-1.0155-1.0112, 1.0112-1.0228-1.0186, 1.0186-1.0293-1.0233.
Resistances:
- 1.0293-99-1.0302 = confluence area of two contracted objective points (COP) and objective point (OP), already hit
- 1.0340-50 = confluence area of OP and super expanded objective point (SXOP)
- 1.0374 = expanded objective point (XOP)
- 1.0406 = XOP
- 1.0435 = OP
If the price keeps declining the immediate supports will be Fibonacci retracements of 1.0064-1.0293, 1.0186-1.0293.
Supports:
- 1.0252 = .382 retracement
- 1.0240 = .50 ret
- 1.0227 = .618 ret
- 1.0206 = .382 ret
- etc.

Overbought/Oversold
Assuming that the medium term trend is up, it's preferable to look for longs when the Detrended Oscillator goes below the zero level (5-15 pips below the current price - this rougly corresponds to 1.0252-40 Fib support area) or gets into the oversold area (20-30 pips to go - this rougly corresponds to 1.0240-27 Fib support area).

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com

NZD/USD candlestick analysis for March 28, 2011

The NZD/USD currency pair could not break the Fibonacci correction level 61.8, to rebound further.
As mentioned before, on a 4-hour graph the NZD/USD pair formed an Inverted Hammer candlestick, indicating upside movement.
This candlestick was formed after the decline of the currency pair was limited near 0.7160, which denotes that the bears could not solidify here and the bulls started to increase their influence.
Break of the Fibonacci correction level 23.6 proves this viewpoint. Now we should expect upside movement to the Fibonacci correction level 50.0, where the resistance level 0.7660 is also located.
Stop loss should be placed slightly below 0.7330, since its break will allow the pair to reach 0.7121. 


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com

GBP/USD candlestick analysis for March 28, 2011

On a 4-hour graph the GBP/USD has formed a Three Black Crows candlestick combination, which indicates downside movement.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6400, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the support level 1.5960 will prove this viewpoint. In this case downside movement to 1.5750, where Fibonacci correction level 61.8 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6400 level. Since a break of this level will target the pair to 1.6450.


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com

EUR/USD candlestick analysis for March 28, 2011

The EUR/USD is still trading in an uptrend, despite the rollback. The currency pair is still able to test the resistance level 1.4278 in the nearest time.
Earlier on a daily graph the EUR/USD pair formed a Bullish Engulfing candlestick combination, indicating upside movement.
This combination shows that the pair was advancing during several weeks. However, a rollback took place near the 1.4035 level, which provided another buy opportunity.
Further upside movement is supported by the fact that the uptrend remains.
Break of the resistance level 1.4035 proves this viewpoint. Now we should expect upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss should be placed slightly below 1.3850 as a break of this level will denote that the uptrend is broken.


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com

AUD/USD Bearish Outlook, March 28, 2011 (Daily Strategy)





This analysis we posted the 24th of March, so our bullish outlook is fulfilled, however we

expect the pair to change their trend and correct to the levels of 1.0000.

The analysis mentioned as follows:

"AUD/USD

A look on graph (daily) of the Australian dollar – United States dollar pair, is in a range

of 300 - points since December of last year, takes five days to a bullish force. Believe

that the pair will continue their upward trend at least until his second line of monthly

resistance around the 1.0310 level. A ascent to that level would create a sales

opportunity, who would return to the lowest level of support around

the level of 0.9860 United States dollars for one Australian dollar."

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011


More analysis - at

instaforex.com




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USD/JPY wave analysis for March 28, 2011






During Friday’s trading the USD/JPY made an attempt to break out of the narrow horizontal

corridor. At the same, in general the wave situation did not change significantly and still

allows the resumption of downside movement in favour of the yen, in the direction of the 79

figure levels. If so, at the moment the price is moving in the range of the 2nd wave, in

the 5th (in the 3rd) of the whole downtrend section initiated March 11.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011

More analysis - at

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GBP/USD. Weekly and Monthly Pivot Points, For March 28 to 01 April, 2011


_____WEEKLY____
Weekly - R3 = 1.6687
Weekly - R2 = 1.6543
Weekly - R1 = 1.6291
Weekly Pivot = 1.6147
Weekly - S1 = 1.5895
Weekly - S2 = 1.5751
Weekly - S3 = 1.5499






_____MONTHLY______
Monthly - R3 = 1.6687
Monthly - R2 = 1.6478
Monthly - R1 = 1.6365
Monthly Pivot = 1.6163
Monthly - S1 = 1.6050
Monthly - S2 = 1.5848
Monthly - S3 = 1.5735




Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011


More analysis - at

instaforex.com