Thread: InstaForex Wave Analysis

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

AUD/USD is now moving in subwave C (colored magenta in the chart) that is part of wave C of larger degree - colored royal blue in the chart. The former subwave C also consists of waves of still smaller degree - A, B and C, subwave C is still developing - colored red in the chart. The immediate resistances are Fibonacci expansions off 0.9709-1.0580-1.0389, 1.0389-1.0578-1.0442, 1.0442-1.0775-1.0676, 1.0676-1.0851-1.0778.
Resistances:
- 1.0927-37 = confluence area of contracted objective point (COP) and super expanded objective point (SXOP)
- 1.0953 = objective point (OP)
- 1.1009 = OP
- 1.1061 = expanded objective point (XOP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of the wave up from 1.0778 - this wave is not developed yet.

Overbought/Oversold
Assuming that the medium term trend is up it's preferable to try longs when the Detrended Oscillator goes below the zero level (40-45 pips below the current prices) or gets into the oversold area (60-70 pips below the current prices).

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

USD/CAD technical analysis for April 28, 2011

The NZD/USD currency pair is still refreshing 3-year highs, though it is yet unable to break the resistance level 0.8100. Nevertheless, its break will target the pair to 0.8150.
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.
The break of the Fibonacci correction level 23.6 proves this viewpoint. Now we should expect an upside movement to the 0.7660 level, following the Fibonacci correction level 50.0 break.
Stop loss should be placed slightly below 0.7823, since its break will allow the pair to reach 0.7740.


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

EUR/USD candlestick analysis for March 28, 2011

In a daily graph the EUR/USD pair is demonstrating a strong upside movement. Break of the resistance level 1.4800 targeted the pair to 1.5150.
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 upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss orders should be placed slightly below 1.4350 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

GOLD Technical Correction, April 28, 2011 (Daily Strategy)







GOLD

The ounce of gold recorded a new historical high in $ 1534.30, after increasing demand for

the precious metal by operators seeking to take refuge from inflationary risks in the

global economy.

According to the retraction of Fibonacci the price of gold has reached the level of 161.8%,

we note that at the same level is the second monthly resistance (1534.00) the next

resistance is around 1555.00 level; at this level would be a good opportunity to sell in

the correction or even a possible change in short-term trend, with an ultimate goal around

the second weekly support located at the level of 1464 dollars for an ounce of gold.







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

More analysis - at

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USD/CHF Bullish Outlook April 28, 2011 (Daily Strategy)





USD/CHF

The strong support situated at 0.8651 has served as a barrier to the strengthening of the

Swiss franc, believe that the pair have to try to cross this level and if it fails in his

attempt, would result a possible rebound upward, reaching his first weekly resistance

situated around 0.8990, we can buy in the current price of 0.8700. Should consider the

important support level of 0.8640, as a stop loss in case of continuing the current wave

bearish.

The positive deviation of the MACD indicator, adds weight to the positive outlook regarding

the pair.







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


More analysis - at

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EUR/USD wave analysis for April 28, 2011






As expected, the EUR/USD passed the 47 figure target level and resumed dynamic upside

movement after Bernanke’s speech. At the same time, the price continued to form inner wave

structure of the 3rd wave (in the 5th). Besides, it should be mentioned that break of the

1.4700 level will allow the euro to grow to the targets located near the 51 figure level,

and further up to 1.5500.

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



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The EUR/USD technical analysis and trading recommendations for April 28, 2011


4-hour timeframe




Overview:
The euro is still in upside movement and observing the buy signal with target level 1.4826,

the price reached the target level, but there are no signals for the movement to end. The

formed buy signal is strong and confirmed, since the Chinkou Span fixated above the price

graph and the price is above the Ichimoku cloud. At the moment the first target level is

passed, therefore the current target for the upside movement is 1.4950 – the second

resistance level. If this level is passed the next target will be the third resistance

level at 1.5251. Upside movement remains while the price is above the Kijun-sen (1.4690),

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 the continuing upside movement, the lines are diverging

and directed up. The MACD is ascending, which indicates current upside movement, therefore

it is possible to trade up now; if the MACD reverses down it will denote the beginning of

another correction and it will be recommended to cut long positions.









Trading recommendations:
Currently it is recommended to trade up with target at 1.4950 and further to 1.5251. Stop

Loss should be placed below 1.4690 and stretch it up as the Kijun-sen advances. If the MACD

reverses down it will be 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



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GBP/JPY Elliott wave count and Fibonacci levels - April 29, 2011

GBP/JPY is moving within wave C of medium term uptrend - colored magenta in the chart. Current wave C consists of 2 subwaves, A and corrective B, that is now developing - colored red in the chart. The targets of the downmove are Fibonacci retracements of 133.99-137.03.
Supports:
- 135.51 = .50 ret
- 135.15 = .618 ret
If the uptrend resumes and the price breaks above 137.03 the immediate resistances will be Fibonacci retracements of 139.93-132.90, and expansions off 132.90-135.87-133.99, 133.99-137.03-135.48.
Resistances:
- 137.24 = .618 retracement
- 137.36 = contracted objective point (COP)
- 138.52 = objective point (OP)
- 138.80 = expanded objective point (XOP)

Overbought/Oversold
Assuming that the wave of a larger degree is moving up it's preferable to open long positions when the Detrended Oscillator gets below the zero level (10-15 pips below the current prices) or into the oversold area (35-45 pips below the current prices).

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

AUD/USD Elliott wave count and Fibonacci levels - April 29, 2011

AUD/USD is now moving in subwave C (colored magenta in the chart) that is part of wave C of larger degree - colored royal blue in the chart. The former subwave C also consists of four waves of still smaller degree - colored red in the chart. The immediate supports are Fibonacci retracements of 1.0778-1.0947, 1.0676-1.0947, and expansions off 1.0947-1.0863-1.0941.
Supports:
- 1.0863-57 = confluence area of .50 retracement and objective point (OP)
- 1.0843 = confluence area of .618 and .382 retracements
- 1.0812-05 = confluence area of .50 ret and expanded objective point (XOP)
- 1.0780 = .618 ret
- 1.0721 = super expanded objective point (SXOP)
If the uptrend resumes the immediate resistances will be Fibonacci expansions off 0.9709-1.0580-1.0389, 1.0389-1.0578-1.0442, 1.0442-1.0775-1.0676, 1.0676-1.0851-1.0778, 1.0778-1.0947-1.0863.
Resistances:
- 1.0967 = contracted objective point (COP)
- 1.1009 = OP
- 1.1032 = OP
- 1.1061 = expanded objective point (XOP)

Overbought/Oversold
Assuming that the medium term trend is up it's preferable to try longs when the Detrended Oscillator goes below the zero level (current prices) or gets into the oversold area (15-25 pips below the current prices).

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

USD/CAD technical analysis for April 29, 2011

Support levels: 0.9450, 0.9400, 0.9353
Resistance levels: 0.9721, 0.9840, 0.9972

In the 4-hour graph the USD/CAD is rolling back after it could not break the 0.9450 support level. Nevertheless, the viewpoint at the pair is still bearish as the downtrend remains.
As mentioned before, break of the 0.9450 support level allowed the pair to reach 0.9400. Besides, we can expect a decline to 0.9353, which is 100.0 Fibonacci projection of 1.0285 to 0.9666 up to 0.9972.
If a reversal takes place and the USD/CAD breaks the 0.9721 resistance level, further advance to 0.9972 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 the first target and 0.9500 as the next possible 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.


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

NZD/USD technical analysis for April 29, 2011

The NZD/USD currency pair is rolling back after it could not break the resistance level 0.8100. Nevertheless, its break will target the pair to 0.8150.
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.
The break of the Fibonacci correction level 23.6 proves this viewpoint. Now we should expect an upside movement to the 0.7660 level, following the Fibonacci correction level 50.0 break.
Stop loss should be placed slightly below 0.7823, since its break will allow the pair to reach 0.7740.


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

GBP/AUD Bullish Outlook April 29, 2011 (Daily Strategy)





GBP/AUD

The technical chart of the Pound Sterling - Australian dollar pair contains an interesting opportunity to buy. The taking of long position respect the pair will be possible only if it crosses in an upward

direction its smaller trend line of 1.5300.

This break will represent a trigger for the buy during a new upward sequence it is estimated that will rise to the significant resistance level of 1.6160, Australian dollars per Pound sterling.

The positive deviation of the MACD indicator, adds weight to the positive outlook regarding the pair



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


More analysis - at instaforex.com




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GBP/USD wave analysis for April 29, 2011





In general, as expected, test of the 1.6700 resulted in a rebound of the GBP/USD from the high reached earlier by more than a figure. Therefore, we can suppose that at the moment the 4th wave in the 3rd, in the 3rd, 5th (in the 3rd or C) is being formed. If so, in the nearest future the pound will resume upside movement in the direction of the first estimated target level located near the 68 figure level.

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

More analysis - at instaforex.com







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USD/JPY wave analysis for April 29, 2011






In general, as expected, the USD/JPY pair resumed slow decline in the direction of the previously reached low 81.20. Given this, we can suppose that the price is forming the 5th wave in the range of the whole downtrend section developed since April 7. If so, the target level for this estimated 5th will probably be the 80.65 level.

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

More analysis - at instaforex.com

GBP/JPY Elliott wave count and Fibonacci levels - May 2, 2011

GBP/JPY is moving within wave C of medium term uptrend - colored magenta in the chart. Current wave C consists of 3 subwaves - A, B and subwave C is still developing - colored red in the chart. The targets of the upmove are Fibonacci retracements of 137.03-135.17, 139.93-132.90, and expansions off 132.90-135.87-133.99, 133.99-137.03-135.48.
Resistances:
- 136.10 = .50 retracement
- 136.32 = .618 ret
- 136.96 = objective point (OP)
- 137.24 = .618 ret
- 137.36 = contracted objective point (COP)
- 138.52 = OP
- 138.80 = expanded objective point (XOP)
If the price reverses down the immediate supports will be Fibonacci retracements of 133.99-137.03.
Support:
- 135.15 = .618 ret

Overbought/Oversold
Assuming that the wave of a larger degree is moving up it's preferable to open long positions when the Detrended Oscillator gets below the zero level (20-25 pips below the current prices) or into the oversold area (50-60 pips below the current prices).

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