Thread: InstaForex Wave Analysis

USD/NOK candlestick analysis for August 4, 2011

The USD/NOK currency pair cannot break the support level near 5.3200. However, the pair is still trading in a downtrend after it was unable again to break the resistance near 5.6271.
Earlier in a daily graph the USD/NOK has formed a Bearish Engulfing candlestick combination indicating downside movement.
This candlestick combination was formed amid a rebound of the pair from the 5.3505 level that could not have been broken by the pair before. Nevertheless, the upside movement was paused near 5.4461. Further the bears started to increase their influence.
Break of the support level 5.2146 will denote that this point of view is correct. In this case we should expect downside movement to a multi-month low 5.1173.
However, it should be mentioned that in case the resistance level 5.6271 is broken short positions should be closed as it will lead to growth to 5.7217. 


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com

Fundamental Analysis, August 04, 2011


Spain again in the thick of things with installment debt issuance media certainly will mean a significant test of the country's ability to continue to be funded. We believe that this place expensive, because these references are facing in the secondary yields about 100 bp higher than a month ago (5 to 5.1%), but we expect an acceptable level of demand, which may temporarily ease the pressure of the debt markets.

After the SNB would cut interest rates 0.00 to 0.25% up to weaken the franc after considering overrated, Japan did the same with the BOJ's intervention in markets to weaken the yen for the first time since March. The BOJ has also expanded its asset purchase fund of 5 billion yen (63 million) to 15 trillion yen (189 million) and kept rates near zero today, before meeting the ECB and the BOE. Rumors of a new stimulus is increased after this week in U.S. manufacturing data to grow at slowest pace in two years, spending fell unexpectedly and service industries grew at the slowest pace since February 2010.


Consequently, we could live a quieter session in which European stock markets will stabilize after a best response in the last hours of Asia and the U.S..

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 August 4, 2011









Yesterday’s resumed GBP/USD growth probably denotes that the inner wave structure of the 4th wave is completed. If so, current upside movement is developing within the 4th wave of the whole uptrend section initiated July 12. At the same time target levels for this 5th wave might be located in the range 1.6470-1.6560.

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


More analysis - at instaforex.com



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AUD/USD Buy Above 1,0547, August 04, 2011 (Daily Strategy)





AUD/USD

The Australian dollar – United Stages dollar pair, is at this very moment in the midst of a free fall for the fourth consecutive day against the background of the weakening financial markets. has been corrected to the third weekly support around 1.0547
Since the Australian dollar represents a country that is financially strong and stable whilst the American dollar represents a jerky economy with extensive debt problems, then the Australian dollar – United States dollar pair can be expected to finish correction at some time and turn to the direction of its original trend – in an upwards direction.



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

More analysis - at instaforex.com



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NZD/USD Buy Above 0,8487 , August 04, 2011 (Daily Strategy)








NZD/USD

The analysis of the 30 minutes graph of the New Zealand dollar - United States dollar pair show stagnation, the price of the pair is fluctuating near the third weekly resistance around 0.8487. If in the course of the day the price of the pair trading above this level, would be a clear signal to enter an agreement of buy with a goal in the weekly Pivot around the 0.8740 level. Is important to note That, the MACD indicator, mark to oversold and a potential reversal of the trend.



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

More analysis - at instaforex.com

USD/CHF Rebound, August 05, 2011 (Daily Strategy)






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


More analysis - at instaforex.com

EUR/USD. Weekly and Monthly Pivot Points, For 08 - 12/ August, 2011



____WEEKLY_____
Weekly - R3 = 1.4868
Weekly - R2 = 1.4660
Weekly - R1 = 1.4470
Weekly Pivot = 1.4262
Weekly - S1 = 1.4072
Weekly - S2 = 1.3864
Weekly - S3 = 1.3674





____MONTHLY______
Monthly - R3 = 1.5447
Monthly - R2 = 1.5013
Monthly - R1 = 1.4705
Monthly Pivot = 1.4271
Monthly - S1 = 1.3963
Monthly - S2 = 1.3529
Monthly - S3 = 1.3221




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

More analysis - at instaforex.com



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AUD/USD. Weekly and Monthly Pivot Points, For 08 - 12/ August, 2011

_____WEEKLY_____
Weekly - R3 = 1.1569
Weekly - R2 = 1.1317
Weekly - R1 = 1.0879
Weekly Pivot = 1.0627
Weekly - S1 = 1.0189
Weekly - S2 = 0.9937
Weekly - S3 = 0.9499


_____MONTHLY____
Monthly - R3 = 1.1760
Monthly - R2 = 1.1420
Monthly - R1 = 1.1206
Monthly Pivot = 1.0866
Monthly - S1 = 1.0652
Monthly - S2 = 1.0312
Monthly - S3 = 1.0098





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


More analysis - at instaforex.com


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GBP/USD. Weekly and Monthly Pivot Points, For 08 - 12 / August, 2011



_____WEEKLY____
Weekly - R3 = 1.6751
Weekly - R2 = 1.6613
Weekly - R1 = 1.6501
Weekly Pivot = 1.6363
Weekly - S1 = 1.6251
Weekly - S2 = 1.6113
Weekly - S3 = 1.6001




_____MONTHLY____
Monthly - R3 = 1.7359
Monthly - R2 = 1.6914
Monthly - R1 = 1.6670
Monthly Pivot = 1.6225
Monthly - S1 = 1.5981
Monthly - S2 = 1.5536
Monthly - S3 = 1.5292




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



More analysis - at instaforex.com


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USD/JPY. Weekly and Monthly Pivot Points, For August 08 -12, 2011



_____WEEKLY_____
Weekly - R3 = 84,26
Weekly - R2 = 82,24
Weekly - R1 = 80,32
Weekly Pivot = 78,30
Weekly - S1 = 76,38
Weekly - S2 = 74,36
Weekly - S3 = 72,44


_____MONTHLY___
Monthly - R3 = 84,65
Monthly - R2 = 83,06
Monthly - R1 = 79,90
Monthly Pivot = 78,31
Monthly - S1 = 75,15
Monthly - S2 = 73,56
Monthly - S3 = 70.40



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 (week review)






After testing the 1.6470 level in the beginning of the week the GBP/USD pair was trading in the rang 1.6215 — 1.6435. At the same time the complex inner wave structure formed during last week is gaining characteristics of a horizontal triangle composing the estimated continuous 3rd wave (or c). If so, after this horizontal correction ends the pound might resume growth to the first target level near 1.6640.

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



More analysis - at instaforex.com

AUD/USD Elliott wave count and Fibonacci levels for August 8, 2011

AUD/USD is moving within wave 5 (from 1.0784) of medium term downtrend - colored red in the chart. These five waves are part of wave C of larger degree from 1.1063 (colored magenta in the chart).
The targets of the downmove are Fibonacci retracements of 0.8066-1.1079, 0.9707-1.1079, and expansions off 1.1063-1.0679-1.0784, 1.0784-1.0375-1.0522.
Supports:
- 1.0269 = contracted objective point (COP)
- 1.0231 = .618 retracement
- 1.0163 = expnded objective point (XOP)
- 1.0113 = objective point (OP)
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of the wave down from 1.1063 - this wave is not developed yet, so no resistances are available so far.

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 (70-80 pips above the current prices) or gets into the overbought area (100-120 pips above the current prices).

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com

GBP/JPY Elliott wave count and Fibonacci levels for August 8, 2011

GBP/JPY has developed the wave from 135.11 to 124.16 and is now moving in a corrective wave against this movement. Current wave A of long term uptrend (colored light green in the chart) now has A and B subwaves, with subwave B still developing from 130.81 (colored magenta in the chart).
The targets below the current price level are Fibonacci retracements of 124.16-130.81, and 125.25-130.81, and expansions off 130.81-127.38-128.87.
Supports:
- 127.49-37 = confluence area of .50 and .618 retracements
- 126.75-70 = confluence area of contracted objective point (COP) and .618 ret
- 125.44 = objective point (OP)
- 123.32 = expanded objective point (XOP)
If the price keeps moving up the immediate resistances will be Fibonacci retracements of 139.94-124.16, 135.11-124.16, and expansions off 124.16-130.81-127.38.
Resistances:
- 130.93 = .618 ret
- 131.49 = contracted objective point (COP)
- 132.05 = .50 ret
- 133.91 = .618 ret
- 134.03 = objective point (OP)

Overbought/Oversold
Assuming that the medium term trend is now up it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (15-35 pips below the current prices).

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com

EUR/USD candlestick analysis for August 8, 2011

The EUR/USD currency pair is still trading down.
Earlier in a weekly graph the EUR/USD formed Dark Cloud Cover candlestick combination indicating downside movement confirmed further.
This combination shows that the pair dropped sharply after an attempt to advance to the resistance level 1.4700, which means that the bears started to increase their influence.
Further decline is supported by the RSI indicator demonstrating a rollback from the overbought level 70.0.
Break of the support level 1.3969 will denote that this point of view is correct. In this case we should expect a decline to the support level 1.3427 where the Fibonacci correction level 50.0 is also located.
It is worth mentioning that stop loss should be placed slightly above the resistance level 1.4700 as its break will target the pair to 1.4900. 


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com

EUR/GBP candlestick analysis for August 8, 2011

In a 4-hour graph the EUR/GBP currency pair is rolling back after it successfully tested the support level 0.8720. The viewpoint at the pair is bearish as the downtrend remains.
Earlier in a 4-hour graph the EUR/GBP formed a Dark Cloud Cover candlestick combination indicating downside movement confirmed further.
This candlestick combination was demonstrating strong upside movement after a fail to break 0.8720. However, it reversed near 0.9083. It means that the bears activated near 0.9100 and did not allow the bulls to fixate.
Fixation below the Fibonacci correction level 23.6 denotes that this point of view is correct. This caused a decline to the support level 0.8860 where the Fibonacci correction level 61.8 is located as well. Its break caused downside movement to 0.8720. Fixation below 0.8720 enabled the pair to reach 0.8600.
It is worth mentioning that stop loss should be placed slightly above the resistance level 0.8891 as its break will target the pair to 0.9000.

Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com

AUD/USD Elliott wave count and Fibonacci levels for August 9, 2011

AUD/USD is moving within wave 5 (from 1.0784) of medium term downtrend - colored red in the chart. These five waves are part of wave C of larger degree from 1.1063 (colored magenta in the chart). Within wave 5 there are four subwaves (colored yellow in the chart) with subwave 4 still developing from 0.9928.
The targets of the downmove are Fibonacci retracements of 0.8066-1.1079, and expansions off 1.1063-1.0679-1.0784, 1.0784-1.0375-1.0522, 1.0522-1.0301-1.0397.
Supports:
- 0.9928 = .382 retracement, already hit (!!!)
- 0.9860 = expanded objective point (XOP)
- 0.9818 = super expanded objective point (SXOP)
- 0.9779 = SXOP
- 0.9573 = .50 ret
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 1.0522-0.9928.
Resistances:
- 1.0155 = .382 ret
- 1.0225 = .50 ret
- 1.0295 = .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 (current prices).

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com

GBP/JPY Elliott wave count and Fibonacci levels for August 9, 2011

GBP/JPY has developed the wave from 135.11 to 124.16 and is now moving in a corrective wave against this movement. Current wave A of long term uptrend (colored light green in the chart) now has A and B subwaves, with subwave B still developing from 130.81 (colored magenta in the chart). Within wave B there are three subwaves (colored red in the chart) with subwave C still developing from 128.87.
The targets below the current price level are Fibonacci expansions off 130.81-127.38-128.87, 128.87-126.45-127.30.
Supports:
- 125.44 = objective point (OP), already hit (!)
- 124.88 = OP
- 123.38 = expanded objective point (XOP)
- 123.32 = XOP
- 120.96 = super expanded objective point (SXOP)
- 119.89 = SXOP
If the price keeps moving up the immediate resistances will be Fibonacci retracements of 139.94-124.16, 135.11-124.16, and 130.81-125.36.
Resistances:
- 127.44 = .382 retracement
- 128.09 = .50 ret
- 128.73 = .618 ret
- 130.93 = .618 ret
- 132.05 = .50 ret
- 133.91 = .618 ret

Overbought/Oversold
Assuming that the medium term trend is now down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (40-60 pips above the current prices).

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com