Thread: InstaForex Wave Analysis

NZD/USD candlestick analysis for March 5, 2011

The NZD/USD currency pair is rolling back after it successfully broke the 0.7660 resistance level.
As mentioned before, in 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 0.7585, since its break will allow the pair to reach 0.7480. 


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

USD/JPY Bearish Outlook, April 05, 2011 (Daily Strategy)





USD/JPY

Last week, a sharp upward sequence led to the United States dollar - Japanese yen pair to the price levels of 84.70 and 84.35, where the pair currently operates. Current price levels are high enough to establish the short position.

The break below the 83.50 support level also will serve as a trigger for taking short position on the pair, which could easily return to the 81.25 support level and even low levels of support yet for those who walked for two weeks, from 79.90 yen per dollar.







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


More analysis - at instaforex.com




================================================== ===================================

================================================== ===================================




USD/CHF Bullish Outlook April 05, 2011 (Daily Strategy)





USD/CHF

The United States dollar – Swiss Franc pair, shows that the pair is on the threshold of an upside breakout, from the resistance level of 0.9240.

It is important to note that we do want to buy only if price is above the weekly pivot line around the 0.9237.Our outlook will remain bullish, always when the price has not broken its uptrend line and if it closes below 0.9200.

The RSI indicator reflect an upward movement to the secondary trend line of the pair passing through the price level of 0.9550 Swiss francs dollar.





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

More analysis - at instaforex.com







================================================== ===================================

================================================== ===================================



GBP/USD wave analysis for April 5, 2011





Yesterday’s two attempts to overcome the 1.6170 level failed; as a result the GBP/USD pair started to trade in a narrow price range. It is worth pointing out that local upside section initiated March 28, now has characteristics of a complete 5-wave structure. At the same time, given the MACD divergence, the price might continue yesterday’s decline in the direction of the 60 figure level.

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


More analysis - at instaforex.com

EUR/GBP Bearish Outlook, April 06, 2011 (Daily Strategy)





EUR/GBP

The downward break of yesterday's trend line was the first sign of a prolonged downward trend that could affect the pair.

The technical analysis allocates the pair a drop to support levels of at least 0.8320. It is important to also note the negative deviation received from the MACD indicator. The deviation provides support for the negative forecast and allows for a short entry with much higher certainty than the expected trend.

The first objective for the partial exercise of the short position is in relation to the first monthly support level 0.8570, while the second goal for the total exercise is in relation to the second level of monthly support low, around 0, 8320.

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

More analysis - at instaforex.com




================================================== ===================================

================================================== ===================================






GBP/AUD Bullish Outlook April 06, 2011 (Daily Strategy)





GBP/AUD

The downward correction of today represented by the time a technical correction in the short term bullish last sequence and therefore, could create an attractive opportunity to buy, before the pair continue to rise with the rising wave that awaits.

Our goal for the exercise of the long position is in relation to the first level of monthly resistance around 1.6160 Australian Dollars per Pound Sterling.







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


More analysis - at instaforex.com







================================================== ===================================

================================================== ===================================



EUR/USD wave analysis for April 6, 2011






Yesterday the EUR/USD could not develop the recent downside movement and went up from the reached low (1.4155) by almost a figure later in the day. At the same time current wave situation allows further development of the upside movement and forming a more complex inner wave structure of the 5th wave, in the 3rd. Simultaneously, the euro still might resume downside correction in the range of future continuous 4th wave.

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



More analysis - at instaforex.com

GBP/JPY Elliott wave count and Fibonacci levels - March 7, 2011

GBP/JPY is developing wave C of medium term uptrend - colored magenta in the chart. This wave in its turn has 5 subwaves (colored red) and wave A of potential corrective A-B-C cycle that is going against the 5 waves. The targets of the downmove are Fibonacci retracements of 135.10-139.60, 130.18-139.60 and expansions off 139.60-138.03-139.54.
Supports:
- 137.97-88 = confluence area of objective point (OP) and .382 retracement
- 137.35 = .50 ret
- 137.00 = expanded objective point (XOP)
- 136.82 = .618 ret
- 136.00 = .382 ret
- etc.
If the uptrend resumes the immediate resistances will be Fibonacci expansions off 122.49-133.04-130.18, 130.18-133.76-132.38, 132.38-136.03-135.10.
Resistances:
- 140.73 = objective point (OP)
- 141.01 = expanded objective point (XOP)
- 141.75 = super expanded objective point (SXOP)

Overbought/Oversold
Assuming that the medium term is now up it's preferable to look for longs when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (current prices), or hits Fib support area at 130.97-88.

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 7, 2011

AUD/USD is developing impulse subwave C (colored magenta in the chart) within wave C of larger degree - colored royal blue in the chart. The former wave now has 5 subwaves - colored yellow in the chart. And subwave 5 is still developing. The targets of the upmove are Fibonacci expansions off 0.9709-1.0313-1.0204, 1.0204-1.0413-1.0285, 1.0285-1.0364-1.0311, 1.0311-1.0447-1.0415.
Resistances:
- 1.0494-99 = confluence area of objective point (OP) and contracted objective point (COP)
- 1.0518 = super expanded objective point (SXOP)
- 1.0551 = OP
- 1.0577 = COP
If the price reverses down the immediate supports will be Fibonacci retracements of 1.0285-1.0478.
Supports:
- 1.0404 = .382 retracement
- 1.0381 = .50 ret
- 1.0359 = .618 ret

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 (5-10 pips below the current prices) or gets into the oversold area (20-30 pips to go - which roughly corresponds to 1.0390 Fib resistance), or hits Fib support at 1.0404.

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

EUR/USD candlestick analysis for March 7, 2011

EUR/USD pair has successfully broken the 1.4278 resistance level. As mentioned before, a break of this level will target the pair to 1.4577.
Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint. Now we should expect an upside movement to 1.4278 resistance level.
It is worth mentioning that stop loss orders should be placed slightly below 1.4100 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

GBP/USD candlestick analysis for March 7, 2011

GBP/USD is rolling back severely after it failed to break the support level near 1.5960.
Earlier in a daily graph the GBP/USD formed a Three Black Crows candlestick combination, which indicates a downside movement.
This candlestick combination formed after the pair had 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.
A 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/AUD candlestick analysis for March 7, 2011

In a 4-hour graph the EUR/AUD currency pair formed a Piercing line candlestick combination, indicating upside movement.
This candlestick combination formed in a downtrend after the pair reached the high at 1.4341 where the bulls could not solidify and the bears started to increase their influence. However, the pair rebounded near 1.3630.
Upside movement is supported by the fact that the pair is trading near support levels that prevented the EUR/AUD from a downfall for several weeks in Autumn of 2010.
Break of the 23.6 Fibonacci correction level will prove this viewpoint. Further, if the main support level, where the 38.2 Fibonacci correction level is also located, is broken, in this case an advance to 1.4520 should be expected.
On the other hand, if the pair breaks the 1.3630 support level, long positions should be closed as a breal of this level might result in a decline to 1.3500.
[img]http://instaforex.com/userfiles/20110407/Picture%2014.png[img]

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

USD/CAD Bullish Outlook April 07, 2011 (Daily Strategy)




USD/CAD

The sharp increases in the price of petroleum gave support to the price of the Canadian

dollar was strengthened significantly in front the U.S. dollar.
In effect, the wave bearish on the loonie - United States dollar pair slowed for the first

time yesterday after encountered with the strong support level of 0.9567 and failed to

drill down.

The encounter with the strong level of support brings us to the conclusion that the low

price of the pair creates an interesting opportunity to buy, a daily close above 0.9610

confirm our bullish outlook.

Our goal for the exercise of the long position is in relation to the second level of

monthly resistance around 0.9890









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

More analysis - at

instaforex.com




================================================== ===================================

================================================== ===================================






EUR/JPY Bearish Outlook, April 07, 2011 (Daily Strategy)





EUR/JPY

In the last hours, the EUR / JPY has lost around 100 pips, showing signs of a possible

correction, or change in trend.A daily close below the first monthly resistance confirms

our bearish outlook.

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


More analysis - at

instaforex.com







================================================== ===================================

================================================== ===================================



USD/CHF wave analysis for April 7, 2011






During yesterday’s trading the USD/CHF currency pair declined by 150 pips from the daily

highs. As a result of such decline inner wave structure of the estimated 2nd wave (or b)

has become quite complex and prolonged. At the same time, all this correction decline is

developing in relation to the upside section formed between March 23 and April 1, which in

its turn is probably the 1st wave (or a). If so, the currency pair might resume growth from

the correction level 61.8% or even from yesterday’s low.

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



More analysis - at

instaforex.com



================================================== ===================================

================================================== ===================================





The EUR/USD technical analysis and trading recommendations for April 7, 2011






Overview:
We can see that the euro is still observing the buy signal, correction movement has not

started yet, which allows us to trade up. The formed sell signal is strong and confirmed,

since the Chinkou Span fixated above the price graph and the price is above the Ichimoku

cloud. Thus, the first target for the upside movement is 1.4315 – the first resistance

level, reached already. If this level is passed the second target will be the second

resistance level at 1.4395. Upside movement remains while the price is above the Kijun-sen

(1.4205), if the price fixates below this line it is recommended to cut long positions. The

Chinkou Span is above the price graph, which confirms the current buy signal and indicates

bullish sentiment. The Bollinger bands show upside movement, the lines are diverging and

directed up. The MACD is ascending, thus indicating current upside movement, if it reverses

down, long positions should be cut as this will denote the beginning of a correction

movement.





Trading recommendations:
Currently it is recommended to trade up with target at 1.4315 and further to 1.4395. Stop

Loss should be placed below 1.4205. If the MACD reverses down, it is recommended to cut

long positions.
In addition to technical image, one should take into account the fundamental data and the

time of their release.



The chart annotation:
Ichimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with white bars in the indicators window. 




Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2011



More analysis - at

instaforex.com

GBP/JPY Elliott wave count and Fibonacci levels - March 8, 2011

GBP/JPY is developing potential corrective wave B of A-B-C cycle of corrective waves. The targets of the downmove are Fibonacci retracements of 135.10-139.60, 130.18-139.60.
Supports:
- 137.35 = .50 retracement
- 136.82 = .618 ret
- 136.00 = .382 ret
- etc.
But if the price breaks above 139.60 the current wave up will become subwave C of impulse wave of larger degree. The immediate resistances will then be Fibonacci expansions off 122.49-133.04-130.18, 130.18-133.76-132.38, 132.38-136.03-135.10, 135.10-139.60-137.80.
Resistances:
- 140.58 = contracted objective point (COP)
- 140.73 = objective point (OP)
- 141.01 = expanded objective point (XOP)
- 141.75 = super expanded objective point (SXOP)

Overbought/Oversold
Assuming that the medium term is now up it's preferable to look for longs when the Detrended Oscillator gets below the zero level (25-30 pips below the current prices) or into the oversold area (55-70 pips below the current prices).

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