Thread: InstaForex Wave Analysis

USD/CHF wave analysis for May 12, 2011







In general, as expected, the USD/CHF currency pair resumed growth and continued to form the

inner wave structure of the current upside correction. At the same time, such growth of the

price is developing in the range of the wave and in the direction of the estimated

correction level 50.0%, which also coincides with the parity of the waves a and c. Besides,

it is worth mentioning that given the current dynamics, the price might reach the area of

the 91 level.

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

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EUR/JPY Bullish Outlook, May 12, 2011 (Daily Strategy)







EUR/JPY

The upward trend in financial markets in generally in the the euro-yen Japanese in

particular, still not concluded. The fact that during the descent, the euro, Japanese yen

reached a 50% Fibonacci retraction but failed to close below reflects a change of direction

and the resumption of the original upward sequence of the pair.



It is estimated that the pair will move to new price peaks around 120.00 and 124.00

levels, is possible take advantage of more modest price target, and locate it in relation

to the nearest resistance level, and secure around 118.00 Japanese Yen. It is important to

emphasize that a reverse, below the 50% level will cancel the positive outlook respect the

pair.





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


More analysis - at

instaforex.com







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CRUDE OIL Bullish Outlook May 12, 2011 (Daily Strategy)





CRUDE OIL

The economic Instability will continue Supporting the price of black gold, There exists a

serious chance that the price of crude oil continues raising its price, a barrel of oil

now being negotiated 99.40 dollars. In the graph we can observe that the price of oil is

trading above the first weekly support located 99.18

We estimate an upward movement toward the nearest resistance level around 108.00 as the

first objective and a our ultimate goal around the level of 111.00 dollars for a barrel of

oil.



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


More analysis - at

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GBP/JPY Elliott wave count and Fibonacci levels - May 13, 2011

GBP/JPY is developing impulse subwave C (colored red in the chart) that is part of impulse wave C of larger degree - colored magenta in the chart. The latter is also part of wave C of still larger degree - colored royal blue in the chart.
The targets of the downmove are Fibonacci expansions off 139.93-132.90-137.03, 137.03-130.89-134.02, 134.02-131.79-133.15, 133.15-131.21-132.09.
Supports:
- 130.92-89 = confluence area of objective point (OP) and contracted objective point (COP)
- 130.23 = COP
- 130.15 = OP
- 130.00 = OP
- 129.54 = expanded objective point (XOP)
- 129.15 = .618 ret

Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (50-55 pips above the current prices) or into the overbought area (90-105 pips above 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 - May 13, 2011

AUD/USD has developed wave 1.0536-1.0888 which is now corrective wave B according to wave count - colored magenta in the chart. Now potential impulse wave C is developing, break below 1.0536 is needed to confirm it. Current wave has two subwaves - A and B, and subwave B is still developing - colored red in the chart.
The targets of the upmove are Fibonacci retracements of 1.0888-1.0566, and expansions off 1.0536-1.0888-1.0566.
Resistances:
- 1.0689 = .382 retracement
- 1.0727 = .50 ret
- 1.0765 = .618 ret
- 1.0784 = contracted objective point (COP)
- 1.0918 = objective point (OP)
If the price breaks below 1.0566 the immediate supports will be Fibonacci retracements of 0.9709-1.1011, and expansions off 1.1011-1.0536-1.0888, 1.0888-1.0566-1.0697.
Supports:
- 1.0514 = .382 retracement
- 1.0498 = contracted objective point (COP)
- 1.0413 = objective point (OP)
- 1.0375 = OP
- 1.0360 = .50 ret

Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator goes above the zero level (10-15 pips above the current prices) or gets into the overbought area (35-45 pips above the current prices), or hits a Fib resistance at 1.0701 (.382 retracement).

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

GBP/USD technical analysis for May 13, 2011

The GBP/USD currency pair is demonstrating downside movement, but it is yet unable to break the Fibonacci 38.2 correction level. Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of 1 the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 0.6164 where the Fibonacci 38.2 correction level is also located.
It is worth mentioning that stop orders should be placed slightly above the 1.6750 level as a break of this resistance will target the pair to 1.6877.


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

EUR/GBP technical analysis for May 13, 2011

The EUR/GBP currency pair has rebounded sharply after a decline to 0.8668. Earlier in a daily graph the EUR/GBP formed a Long Shadows candlestick indicating further downside movement, confirmed further.
This candlestick shows that earlier the EUR/GBP pair made a strong upside movement after an unsuccessful attempt to break the support level 0.8300. However, it reversed near the 0.9000 level. This means that the bulls could not solidify here and the bears started to increase their influence.
The divergence on the RSI and the MACD supports the downside movement.
Break of the Fibonacci 23.6 correction level proves this viewpoint.
As mentioned earlier, if the Fibonacci 38.2 correction level is successfully tested, we should expect downside movement with a target at 0.8650 where the Fibonacci correction level 50.0 is also located. Its break will target the pair to the next support level 0.8350.
It is worth mentioning that stop orders should be placed slightly above the resistance level 0.9050 as its break will target the pair to 0.9160.


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

NZD/USD candlestick analysis for May 13, 2011

The NZD/USD currency pair has found demand near the support level 0.7823 again, but could not fixate above the resistance level 0.7973. As mentioned before, its break will target the pair to 0.8125. If it is successfully tested, a growth to 0.8200 should be expected.
Earlier 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

CRUDE OIL "Double Bottom" May 13, 2011 (Daily Strategy)






CRUDE OIL

In the four-hour chart, we can see two figures bullish signal, a "Double Bottom" and the

other "Bullish Pennant", a buy at the present price creates an excellent opportunity where

the potential for a large price increase is as high as the size of the previous price

drops. The closer resistance level at 108.00 can be used as a key point for a partial

realization.

The resistance level of 114.70 that halted the pair previously can be used as a final

target price for the realization of a long position on the pair.



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



More analysis - at

instaforex.com




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EUR/JPY Bullish Above 115.71, May 13, 2011 (Daily Strategy)









EUR/JPY

The last wave of price drops was extremely sharp and it dropped the pair by over 750 points

right to the strong support level of around 114.30. In effect, so long as this important

level doesn't break downwards, the assessment is that in all probability the pair will

reach the bottom and begin a new move upwards.



Regarding the chance/risk ratio, then a buy above 115.71 creates an excellent opportunity

where the potential for a large price increase is as high as the size of the previous price

drops. The resistance level of 119.20 can be used as a final target price for the

realization of a long position on the pair.





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


More analysis - at

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GBP/JPY Elliott wave count and Fibonacci levels - May 16, 2011

GBP/JPY is developing corrective subwave 4 (colored red in the chart) that is part of impulse wave C of larger degree - colored magenta in the chart. The latter is also part of wave C of still larger degree - colored royal blue in the chart.
The targets of the upmove are Fibonacci retracements of 134.02-130.26, 133.15-130.26.
Resistances:
- 131.36 = .382 retracement
- 131.70 = confluence area of .382 and .50 retracements
- 132.05-14 = .618 and .50
- 132.58 = .618 ret
If the price reverses down and breaks below 130.26 the immediate supports will be Fibonacci retracements of 122.49-139.93, and expansions off
The targets of the downmove are Fibonacci expansions off 139.93-132.90-137.03, 137.03-130.89-134.02, 134.02-131.79-133.15.
Supports:
- 130.23 = contracted objective point (COP)
- 130.00 = objective point (OP)
- 129.54 = expanded objective point (XOP)
- 129.15 = .618 ret
- 127.88 = OP

Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (30-45 pips above 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 - May 16, 2011

AUD/USD broke below 1.0536 and thus confirmed wave C of medium term downtrend - colored magenta in the chart. On smaller scale this wave consists of A, B and C subwaves with subwave C still developing - colored red in the chart.
The targets of the downmove are Fibonacci retracements of 0.9709-1.1011, and expansions off 1.1011-1.0536-1.0888, 1.0888-1.0566-1.0716.
Supports:
- 1.0517-14 = confluence area of contracted objective point (COP) and .382 retracement
- 1.0413 = objective point (OP)
- 1.0394 = OP
- 1.0360 = .50 ret
- 1.0206 = .618 ret
- 1.0195 = expanded objective point (XOP)
- 1.0119 = XOP
If the price reverses up the immediate resistances will be Fibonacci retracements of 1.0888-1.0519.
Resistances:
- 1.0660 = .382 retracement
- 1.0703 = .50 ret
- 1.0747 = .618 ret

Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator goes above the zero level (current prices) or gets into the overbought area (25-35 pips above the current prices), or hits a Fib resistance at 1.0660 (.382 retracement).

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

GBP/USD technical analysis for May 16, 2011

The GBP/USD currency pair is demonstrating downside movement after a break of the Fibonacci 38.2 correction level. Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of 1 the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 0.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 leve will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6517 level as a break of this resistance will target the pair to 1.6750.


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