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AUD/USD Elliott wave count and Fibonacci levels - March 23, 2011
The AUD/USD currency pair took a pause after a strong upside movement and declined to the 1.0070, which was not broken yet.
Earler on a 4-hour graph the AUD/USD formed a Three White Soldiers candlestick combination that indicates upside movement, confirmed further.
This combination formed amid a growth after an attempt to break the support level 0.9700; afterwards the bulls started to increase their influence. This candlestick combination provided a good opportunity to open long positions.
Besides, the AUD/USD broke the 61.8 Fibonacci correction level. Break of the 1.0070 resistance level will target the pair to 1.0200.
It is worth mentioning that stop loss should be placed slightly above the support level 0.9894, since its break will allow the pair to decline to 0.9700.
http://instaforex.com/userfiles/2011...re%2012(1).png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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EUR/GBP candlestick analysis for March 23, 2011
The EUR/GBP is demonstrating a rebound off the upper limit of the downtrend. A return to the range 0.8280-0.8680 might initiate further selling.
At the moment the viewpoint at the pair is still bearish since the EUR/GBP has formed a candlestick combination Bearish Engulfing on the downtrend.
Downside movement is supported by the fact that this candlestick combination has formed near the upper limit of the downtrend where the bulls did not manage to solidify and the bears started to increase their influence. Further a rebound took place.
As mentioned before, successful breakthrough of the support level near 0.8430-0.8450 targeted the pair to 0.8143.
It is worth highlighting that in case the Fibonacci correction level 50.0 is broken short positions should be closed since it will denote that the downtrend is breached and the pair will be targeted to 0.98.
http://instaforex.com/userfiles/2011...cture%2014.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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EUR/USD wave analysis for March 23, 2011
http://instaforex.com/userfiles/20110323/EUR_h4.gif
During yesterday’s trading the EUR/USD was moving in the range, approaching the 1.4250 level to test it and return to the 42 figure level. At the same time, at the moment the 3rd wave in the 3rd (in the 3rd, or C) looks complete. Simultaneously, the 5th wave in this 3rd might become even more complex, and the price will pass the 1.4275 target level to decline further, thus easing the MACD divergence in the range of the future 4th wave.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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GBP/USD wave analysis for March 23, 2011
http://instaforex.com/userfiles/20110323/GBP_h4.gif
Yesterday the GBP/USD currency pair continued to advance in favour of the British currency and tested the 64 figure level early in the day. Thus, the price is likely to form a complex wave structure of the 3rd wave, in the 5th, of the whole uptrend initiated in late December. At the same time, the fact that the estimated target level 1.6370is passed and incomplete wave situation allow a possibility of growth in the range of this 3rd wave to the next target level 1.6440.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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USD/CHF Bullish Outlook March 23, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...ancodolara.gif
USD/CHF
The United States dollar – Swiss Franc pair has formed a figure technique, called triangle, if broken in upward direction we can enter buying around the 0.9050 level. The RSI indicator is showing a trend change.
If our perspective is true can be carried out next to the nearest 0.9240 weekly resistance level, should the expected upward movement indeed occur.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/GBP Strong Resistance 0.8750 March 23, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110323/eurodolar.gif
EUR/GBP
The Euro – British pound pair is fully set and ready for a trend reversal and a movement for a new wave of downwards movements, this after having fought a stubborn battle for two days against the 0.8760 resistance level, and so far not having really succeeded in rising above it and forming an upwards breach.
It is best to await a clean breach of the trend line before one joins a new sell position, the downwards potential of the Euro- British pound pair is strong enough to lead it to the low levels of 0.8240 British pounds for one Euro.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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GBP/JPY Elliott wave count and Fibonacci levels - March 24, 2011
The GBP/JPY is developing corrective subwave B 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:
- 130.36 = .382 retracement
- 129.53 = .50 ret
- 129.01 = .382 ret
- 128.70 = .618 ret
- 127.76 = .50 ret
- etc.
If the price keeps advancing the immediate resistances will be Fibonacci retracements of 133.04-131.19.
Resistances:
- 131.90 = .382 ret
- 132.12 = .50 ret
- 132.33 = .618 ret
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the medium term has reversed to the downside it's preferable to look for shorts when the Detrended Oscillator gets above the zero level (10-20 pips above the current price), or into the overbought area (90-120 pips above the current price - this rougly corresponds to 132.33 Fib resistance level).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD Elliott wave count and Fibonacci levels - March 24, 2011
The AUD/USD is developing corrective subwave B (colored orange red in the chart) within wave 5 of medium term uptrend - colored red in the chart. The targets of the downmove are Fibonacci retracements of 1.0064-1.0155, and if the price goes below 1.0164, we get new targets as retracements of 0.9784-1.0155, 0.9709-1.0155.
Supports:
- 1.0110 = .50 retracement
- 1.0099 = .618 ret
- 1.0013 = .382 ret
- 0.9985 = .382 ret
- 0.9970 = .50 ret
- 0.9932-26 = confluence area of .50 and .618 retracements
- etc.
If the uptrend continues the immediate resistances will be Fibonacci expansions off 0.9709-0.9876-0.9784, 0.9784-1.0155-1.0064.
Resistances:
- 1.0221 = super expanded objective point (SXOP)
- 1.0293 = contracted objective point (COP)
http://instaforex.com/userfiles/2011...-audusd-in.gif
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
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USD/SEK candlestick analysis for March 24, 2011
Earlier on a 4-hour graph the USD/SEK formed a Bullish Engulfing candlestick combination that indicates upside movement, confirmed further.
This combination formed after the pair failed to break the 6.2383 level, which means 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 6.3678 level, where the Fibonacci correction level 50.0 is also located.
However, it is worth mentioning that if the 6.2383 support level is broken, long positions should be closed as this will cause multi-year lows to be refreshed.
http://instaforex.com/userfiles/2011...icture%209.png
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
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NZD/USD candlestick analysis for March 24, 2011
The NZD/USD currency pair is advancing further after a slight pause and at the moment is testing 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 0.7476 is also located.
Stop loss should be placed slightly below 0.7121, since its break will allow the pair to reach 0.6949.
http://instaforex.com/userfiles/2011...icture%208.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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EUR/USD Bearish Outlook, March 24, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...rrrodol(1).gif
EUR/USD
The Euro-United States dollar pair from its record high at 1.4247 has been corrected to the
1.4050 level. At this moment it is negotiating on the price of 1.4130, The resistance level
of 1.4200 and the 61.8% Fibonacci retracement line could serve as a short input signal to
continue the trend that had started even the weekly support line around the 1.3750 level.
We mention that expectations about what near future increase interest rates in Europe, the
pair relocated back to 1.4000, with a forecast of $ 1.4300 as strong resistance.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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AUD/USD Bullish Outlook, March 24, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...ustradolar.gif
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
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USD/JPY wave analysis for March 24, 2011
http://instaforex.com/userfiles/20110324/JPY_h4.gif
The USD/JPY price has been still near the 81 figure level for two days already.
Respectively, as we mentioned before, in the framework of the scenario assuming resumption
of the downside movement the price continued to form a more complex wave structure of the
2nd wave in the estimated 5th (in the 3rd). If so, after this 2nd (in the 5th) is completed
the pair might start another stage of strengthening, declining to the 79.00 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 24, 2011
http://instaforex.com/userfiles/20110324/EUR_h4.gif
Yesterday the EUR/USD pair declined by almost a figure and stopped by the end of the day
near the 41 figure level corresponding with the 38.2% correction level, calculated for the
whole dimension of the 3rd wave, in the 3rd (in the 3rd or C). In this respect the euro
might resume upside movement from the above mentioned correction level and start forming
the 5th wave in this 3rd. On the other hand, we should not exclude the possibility of the
4th wave inner wave structure to become more complicated and continue declining to the next
correction levels.
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 25, 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, and expansions off 133.04-131.19-131.75.
Supports:
- 129.90 = objective point (OP)
- 129.53 = .50 ret
- 129.01 = .382 ret
- 128.76-70 = confluence area of expanded objective point (XOP) and .618 ret
- etc.
If the price keeps advancing the immediate resistances will be Fibonacci retracements of 131.75-130.28, 133.04-130.28.
Resistances:
- 130.84 = .382 ret
- 131.01 = .50 ret
- 131.19 = .618 ret
- 131.33 = .382 ret
- etc.
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the medium term has reversed to the downside it's preferable to look for shorts when the Detrended Oscillator gets above the zero level (5-10 pips above the current price), or into the overbought area (80-110 pips above the current price - this rougly corresponds to 131.33 Fib resistance level).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD Elliott wave count and Fibonacci levels - March 25, 2011
The AUD/USD is moving within impulse subwave C (colored orange red in the chart) of wave 5 of medium term uptrend - colored red in the chart. The targets of the upmove are Fibonacci expansions off 0.9709-0.9876-0.9784, 0.9784-1.0155-1.0064, 1.0065-1.0155-1.0112, 1.0112-1.0228-1.0186.
Resistances:
- 1.0258-59 = confluence area of contracted objective point (COP) and expanded objective point (XOP)
- 1.0293-1.0302 = confluence area of COP and objective point (OP)
- 1.0350 = super expanded objective point (SXOP)
If the price breaks below 1.0186 the immediate supports will be Fibonacci retracements of 1.0064-1.0228, 0.9709-1.0228.
Supports:
- 1.0165 = .382 retracement
- 1.0146 = .50 ret
- 1.0127 = .618 ret
- 1.0030 = .382 ret
- etc.
http://instaforex.com/userfiles/2011...-audusd-in.gif
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 (20-30 pips below the current price) or gets into the oversold area (35-45 pips to go).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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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.
http://instaforex.com/userfiles/2011...cture%2012.png
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
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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.
http://instaforex.com/userfiles/2011...icture%208.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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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.
http://instaforex.com/userfiles/2011...cture%2010.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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GBP/USD Around the Trend Line March 25, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110325/libradl.gif
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)
http://instaforex.com/userfiles/20110325/oro.gif
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
http://instaforex.com/userfiles/20110325/CHF_h4.gif
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
http://instaforex.com/userfiles/20110325/EUR_h4.gif
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
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
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
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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.
http://instaforex.com/userfiles/2011...-audusd-in.gif
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
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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.
http://instaforex.com/userfiles/2011...icture%207.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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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.
http://instaforex.com/userfiles/2011...cture%2012.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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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.
http://instaforex.com/userfiles/2011...icture%204.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD Bearish Outlook, March 28, 2011 (Daily Strategy)
http://instaforex.com/userfiles/2011...ustradolar.gif
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
http://instaforex.com/userfiles/20110328/JPY_h4.gif
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
http://instaforex.com/userfiles/2011...brasemanal.gif
_____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
http://instaforex.com/userfiles/2011...bramensual.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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AUD/USD. Weekly and Monthly Pivot Points, For March 28 to 01 April, 2011
_____WEEKLY_____
Weekly - R3 = 1.0723
Weekly - R2 = 1.0508
Weekly - R1 = 1.0384
Weekly Pivot = 1.0169
Weekly - S1 = 1.0045
Weekly - S2 = 0.9830
Weekly - S3 = 0.9706
http://instaforex.com/userfiles/20110328/austrasema.gif
_____MONTHLY______
Monthly - R3 = 1.0528
Monthly - R2 = 1.0364
Monthly - R1 = 1.0272
Monthly Pivot = 1.0108
Monthly - S1 = 1.0016
Monthly - S2 = 0.9852
Monthly - S3 = 0.9760
http://instaforex.com/userfiles/2011...tramensual.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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EUR/USD. Weekly and Monthly Pivot Points, For March 28 to 01 April, 2011
_____WEEKLY_____
Weekly - R3 = 1.4402
Weekly - R2 = 1.4324
Weekly - R1 = 1.4206
Weekly Pivot = 1.4128
Weekly - S1 = 1.4010
Weekly - S2 = 1.3932
Weekly - S3 = 1.3814
http://instaforex.com/userfiles/20110328/eurosema.gif
_____MONTHLY______
Monthly - R3 = 1.4405
Monthly - R2 = 1.4133
Monthly - R1 = 1.3971
Monthly Pivot = 1.3699
Monthly - S1 = 1.3537
Monthly - S2 = 1.3265
Monthly - S3 = 1.3103
http://instaforex.com/userfiles/2011...uromensual.gif
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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GBP/JPY Elliott wave count and Fibonacci levels - March 29, 2011
The GBP/JPY has just finished wave 133.04-130.18 - corrective wave B of medium term uptrend. Now we have wave C developing - colored magenta in the chart. To confirm this wave break above 133.04 is needed. So far the targets above the current price are Fibonacci retracements 133.04-130.18, expansions off 122.49-133.04-130.18, 130.18-130.93-130.22.
Resistances:
- 130.97 = objective point (OP)
- 131.27 = .382 retracement
- 131.43 = expanded objective point (XOP)
- 131.61 = .50 ret
- 131.95 = .618 ret
- 132.18 = .super expanded objective point (SXOP)
If the price keeps declining the immediate supports will be Fibonacci retracements of 126.02-133.04, 122.49-133.04, and expansions off 133.04-130.18-130.93.
Supports:
- 129.53 = .50 ret
- 129.16 = contracted objective point (COP)
- 129.01 = .382 ret
- 128.70 = .618 ret
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
Overbought/Oversold
Assuming that the medium term (beginning of wave C) is now up it's preferable to look for longs when the Detrended Oscillator gets below the zero level (10-20 pips below the current price), or into the oversold area (40-50 pips below the current price).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD candlestick analysis for March 29, 2011
The AUD/USD currency pair is rolling back after refreshing all-time highs.
Earlier on a 4-hour graph the AUD/USD formed a Three White Soldiers candlestick combination that indicates upside movement, confirmed further.
This combination formed amid a growth after an attempt to break the support level 0.9700; afterwards the bulls started to increase their influence. This candlestick combination provided a good opportunity to open long positions.
Besides, the AUD/USD broke the 61.8 Fibonacci correction level. Break of the 1.0255 resistance level targeted the pair to 1.0350.
It is worth mentioning that stop loss should be placed slightly above the support level 1.0070, since its break will allow the pair to decline to 0.9894.
http://instaforex.com/userfiles/2011...cture%2010.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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USD/CAD candlestick analysis for March 29, 2011
Support levels: 0.9730, 0.9650, 0.9600
Resistance levels: 0.9840, 1.0000, 1.0057
On a 4-hour graph the USD/CAD movement was limited by the lower limit of the trading range 0.9730-0.9840. Nevertheless, the viewpoint at the pair remains bearish since it is still in a downtrend.
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.
http://instaforex.com/userfiles/2011...icture%206.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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GBP/USD candlestick analysis for March 29, 2011
As expected, the GBP/USD decline was limited by the support level near 1.5960.
Earlier 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.
http://instaforex.com/userfiles/2011...icture%207.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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GBP/USD Bullish Outlook March 29, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110329/libradolar.gif
GBP/USD
The British Pound - United States dollar pair takes five days on a downward trend from
their peak at 1.6400, now showing signs of stagnation or consolidation, if the pair touch
the weekly support line around 1.5890, would be a good opportunity to enter long with a
goal around 1.6300, a daily close above 1.5990, it would be a good start of a new upward
wave,
More analysis - at
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EUR/USD Bullish Outlook, March 29, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110329/erindolar.gif
EUR/USD
The Euro – United States dollar pair need a support or a leg around 1.3930 levels, we thus
believe that the pair continued their downward sequence to this level.
The euro has to go a bit higher, perhaps to levels of 1.4500 or more,
for it would be a good opportunity to buy at a cheap price at 1.3930 with a target output
in the short term 1.4320 and long-term 1.4540
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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USD/CHF wave analysis for March 29, 2011
http://instaforex.com/userfiles/20110329/CHF_h4.gif
As expected, the USD/CHF price started to move away from the correction level 61.8%. At the
same time, at the moment we cannot be sure that indicated downside movement can develop
into a new continuous sector of the downtrend. Current wave situation allows a possibility
of the upside movement to be resumed and the 5-wave structure to be formed on the local
uptrend section after March 23.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
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USD/JPY wave analysis for March 29, 2011
http://instaforex.com/userfiles/20110329/JPY_h4.gif
After Friday’s growth of the USD/JPY by a few figures, yesterday’s trading was located in a
quite narrow price range near the 81.60 – 81.70 level. As a result, the yen price is still
moving in the range of the estimated 2nd wave, in the 5th (in the 3rd), of the whole
uptrend section initiated March 11. At the same time, overbought Stochastic allows the
resumption of downside movement.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
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GBP/JPY Elliott wave count and Fibonacci levels - March 30, 2011
The GBP/JPY is moving on within potential wave C of medium term uptrend - colored magenta in the chart. To confirm this wave break above 133.04 is needed. The targets above the current price are Fibonacci expansions off 122.49-133.04-130.18.
Resistances:
- 133.04 = previous peak (100%)
- 134.21 = super contracted objective point (SCOP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of the wave up from 130.18 - this wave is not developed yet.
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
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 (25-35 pips below the current price), or into the oversold area (45-55 pips below the current price).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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AUD/USD candlestick analysis for March 30, 2011
The AUD/USD currency pair is demonstrating growth again and refreshing all-time highs further.
Earlier on a 4-hour graph the AUD/USD formed a Three White Soldiers candlestick combination that indicates upside movement, confirmed further.
This combination formed amid a growth after an attempt to break the support level 0.9700; afterwards the bulls started to increase their influence. This candlestick combination provided a good opportunity to open long positions.
Besides, the AUD/USD broke the 61.8 Fibonacci correction level. Break of the 1.0255 resistance level targeted the pair to 1.0350.
It is worth mentioning that stop loss should be placed slightly above the support level 1.0070, since its break will allow the pair to decline to 0.9894.
http://instaforex.com/userfiles/2011...cture%2017.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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Oil review for 30/03/2011
On Tuesday oil futures grew amid doubts over resumption of oil export from Libya and stock market uprise.
On Tuesday oil futures showed growth as doubts about Libyan oil export have been increasing and stock market has been up. By the end of NYMEX trades the quotations of April futures on low-sulfur oil rose by 81 cent (0.8%) up to USD 104,79 per barrel. At the same time ICE trades resulted in Brent oil prices growing by 46 cent (0.4%) up to USD 115,26 per barrel.
Crude oil prices have been rising amid uncertainties over how soon Libyan oil will be back on the market. According to Libyan rebels, the country may well start exporting oil within a week.
However, there are persistent doubts about such fast returning of Libyan oil to the market, particularly with the situation in other parts of the region remaining quite unstable. Almost all Libyan export of nearly 1.3 mln. barrels a day ceased due to the national conflict and the sanctions imposed on it by the West.
Crude oil prices have been soaring since the beginning of the Libyan conflict which broke up in mid-February to reach its high USD 106.95 per barrel in the beginning of March. Earlier on Tuesday the very prospect of Libyan oil to be back on the market pushed the prices down.
Yet, some market watchers suppose that the prices have reached their high and now they expect them to decline, especially in case Libyan oil export is resumed. Additionally, oil prices were supported by hiking American stocks which contributed much to hopes for higher US demand for oil.
On Wednesday the Ministry of Energy is to publish its weekly data on the oil reserves and petroleum products of the USA.
Analysts expect oil reserves to increase by 1.5 mln. barrels, reducing thus gas reserves by 1.7 mln. barrels and distillate reserves, including residual oil and diesel fuel, by 400 000 barrels.
http://instaforex.com/userfiles/2011...cture%2012.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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GBP/USD candlestick analysis for March 30, 2011
At the moment the GBP/USD is testing the support level near 1.5960.
Earlier 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.
http://instaforex.com/userfiles/2011...cture%2016.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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EUR/USD candlestick analysis for March 30, 2011
EUR/USD keeps on being traded in an uptrend. This currency pair is still capable of testing 1.4278 resistance level in the closest time. Earlier on 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 continuing for several weeks. However, there was a rollback registered at 1.4035 level which was a good opportunity to start buying.
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 orders should be placed slightly below 1.3850 as a break of this level will denote that the uptrend is broken.
http://instaforex.com/userfiles/2011...cture%2015.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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GBP/AUD Bullish Outlook, March 30, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110330/libraaud.gif
GBP/AUD
After a wave of downwards movement for more than nine days, the British pound - Australian dollar pair takes a brief rest, apparently in order to gather strength before the beginning of a new change in trend or potential technical rebound. The second line of the monthly support served as a barrier to the sharp decline that came to the 1.5480 level.
Logout above this line, in the 1.5480 will confirm that it is not nothing but support the reversal and the beginning of a new upward sequence.It is estimated that upward sequence pushed the pair to the 1.5980 resistance level in the short term.
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 March 30, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110330/crudeoil.gif
CRUDE OIL
Crude oil futures for April have locked yesterday at a price of 104.50 United States dollars for one barrel of oil, We noted that duringthe week of trade, oil approached the level of 107 United States dollars for one barrel of oil, before retreating back down.
Therefore we believe that crude oil has to raise its price a little more, perhaps even levels of 108 00 dollars a barrel of crude, then from there would take a short break or fall to levels of 98 dollars a barrel.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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USD/CHF wave analysis for March 30, 2011
http://instaforex.com/userfiles/20110330/CHF_h4.gif
During yesterday’s trading the USD/CHF currency pair started to move away from the 0.9140 level. Thus, as we mentioned yesterday, the pair is forming a 5-wave structure in the range of the upside correction developed since March 23. Given this, we can suppose that at the moment the price is in the range of the future a wave of a more continuous correction structure.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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GBP/USD wave analysis for March 30, 2011
http://instaforex.com/userfiles/20110330/GBP_h4.gif
Given the situation formed by the end of the GBP/USD trading, we can see some uncertainty in further development of the wave situation. This uncertainty is explained by the fact that the price can both continue declining, thus forming a more complex structure of the c wave, in the e, and make a reversal, thus indicating a new section of the uptrend.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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The EUR/USD technical analysis and trading recommendations for March 30, 2011
Overview:
The euro is still observing the downside movement and a sell signal, the price is still inside the Ichimoku Cloud, which does not allow us to trade either up or down. The formed sell signal is weak and confirmed, since the Chinkou Span fixated below the price graph and the price is inside the Ichimoku cloud. Thus, at the moment the first target for the downside movement is 1.3932 – the second support level. If this level is passed the second target will be the third support level at 1.3814. Downside movement remains while the price is below the Kijun-sen (1.4120), if the price fixates above this line it is recommended to cut short positions. The Chinkou Span is below the price graph, which confirms the current sell signal and indicates bearish sentiment. The Bollinger bands show downside movement, the lines are slightly narrowing and directed down. The MACD is descending, thus indicating current downside movement, if it reverses up this will denote the beginning of a correction movement.
Trading recommendations:
Currently it is recommended to wait until the sell signal strengthens (the price fixates below the Ichimoku Cloud) and trade down with target at 1.3932 and further to 1.3814. Stop Loss should be placed below 1.4120. If the MACD reverses up, it is recommended to cut short 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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USD/SEK candlestick analysis for March 31, 2011
The USD/SEK currency pair is demonstrating downside movement after it failed to break the Fibonacci correction level 61.8.
Earlier on a 4-hour graph the USD/SEK formed a Bullish Engulfing candlestick combination that indicates upside movement, confirmed further.
This combination formed after the pair failed to break the 6.2383 level, which means 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 6.5019 level, where the Fibonacci correction level 50.0 is also located.
However, it is worth mentioning that if the 6.2794 support level is broken, long positions should be closed as this will cause a decline to the 6.2383 level.
http://instaforex.com/userfiles/2011...cture%2015.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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GBP/JPY Elliott wave count and Fibonacci levels - March 31, 2011
The GBP/JPY is developing corrective subwave B (colored orange red in the chart) within impulse wave C of medium term uptrend - colored magenta in the chart. The immediate supports are Fibonacci retracements of 130.18-133.76 and 122.49-133.76.
Supports:
- 132.39 = .382 retracement
- 131.97 = .50 ret
- 131.55 = .618 ret
- 129.45 = .382 ret
If the uptrend resumes and the price breaks above 133.76 the immediate resistances will be Fibonacci expansions off 122.49-133.04-130.18.
Resistances:
- 134.21 = super contracted objective point (SCOP)
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
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 or into the oversold area (current prices), or better yet - when the price hits the Fib support at 132.39.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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NZD/USD candlestick analysis for March 31, 2011
The NZD/USD currency pair is rolling back after it failed to reach the 0.7660 resistance level.
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 0.7492, since its break will allow the pair to reach 0.7330.
http://instaforex.com/userfiles/2011...cture%2014.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
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GBP/USD candlestick analysis for March 31, 2011
In a daily graph the GBP/USD is bouncing off after it failed to break the support level near 1.5960.
Earlier on a daily 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.
http://instaforex.com/userfiles/2011...cture%2010.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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USD/CAD candlestick analysis for March 31, 2011
Support levels: 0.9650, 0.9600, 0.9550
Resistance levels: 0.9840, 1.0000, 1.0057
On a 4-hour graph the USD/CAD is still demonstrating downside movement after a slight consolidation. 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.
http://instaforex.com/userfiles/2011...cture%2017.png
Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
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EUR/JPY Around the Third Monthly Resistance March 30, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110331/euryenn.gif
EUR/JPY
The strengthening of the euro in recent days push the price of pair Euro - Japanese yen,
which completed a consecutive increase of 1100 points exactly from the previous low around
106.75. to the significant level of resistecia monthly 117.89 .
From here, the chances of a new wave bearish who carry a pair of biased movement to
horizontal movement and return to their last low around 112.70 yen per euro. A daily close
below 117. 50 confirms our bearish outlook.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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AUD/CHF Bearish Outlook, March 30, 2011 (Daily Strategy)
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AUD/CHF
A sharp upward sequence launched the Australian dollar – Swiss franc pair by over 900
pips. to the maximum level of 0.9598 which represents a significant resistance level just
in the weekly R1. The fact that the pair only touched the level of resistance and did not
close over it, represents a real opportunity to sell short position.
A tenuous negative deviation supporting the opening of a new wave bearish can be found in
the Momentum indicator. The goal for the total exercise is the important support level of
0.9120
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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EUR/USD wave analysis for March 31, 2011
http://instaforex.com/userfiles/20110331/EUR_h4.gif
During yesterday’s trading the EUR/USD currency pair made attempts to develop its gains in
favour of the euro. However, quite strong resistance level near 1.4130-1.4140 prevented the
price from forming a new upside section. As a result, another series of waves abc was
indicated, which allows both a continuous growth of the price, and the resumption of
downside movement with forming of more complex and continuous correction structure.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
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The EUR/USD technical analysis and trading recommendations for March 31, 2011
http://instaforex.com/userfiles/20110331/eurusd%204.gif
Overview:
The euro has not strengthened the sell signal, the price could not pass the Ichimoku Cloud,
as a result we see a new buy signal without a target level. The formed sell signal is
strong and not confirmed, since the Chinkou Span fixated below the price graph and the
price is above the Ichimoku cloud. Thus, for up trading it is recommended to wait until the
current signal is confirmed (the Chinkou Span fixates above the price graph). In this case
the first target for the upside movement is 1.4206 – the first resistance level. If this
level is passed the second target will be the second resistance level at 1.4324. Downside
movement remains while the price is above the Kijun-sen (1.4110), if the price fixates
below this line it is recommended to cut long positions. The Chinkou Span is below the
price graph, which does not confirm the current buy signal and indicates bullish sentiment.
The Bollinger bands show the beginning of the upside movement, the lines are slightly
diverging and directed up. The MACD is ascending, thus indicating current upside movement,
if it reverses down this will denote the beginning of a correction movement.
Trading recommendations:
Currently it is recommended to wait until the buy signal strengthens (the Chinkou Span
fixates above the price graph) and trade up with target at 1.4206 and further to 1.4324.
Stop Loss should be placed below 1.4110. 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
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CRUDE OIL Bullish Outlook April 01, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110401/crudede.gif
CRUDE OIL
The instability will continue supporting the price of black gold, which has stopped for a
brief rest after having leaped up rapidly from the levels of 85 to the highs of 107.
There exists a serious chance that the price of crude oil continues raising its price,
therefore, a return to the level of 105.00 would be a good opportunity to buy with an goal
to the level of 110.70 dollars for a barrel of oil.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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EUR/GBP Strong Support 0.8760 April 01, 2011 (Daily Strategy)
http://instaforex.com/userfiles/20110401/erulibr.gif
EUR/GBP
The Euro – British Pound pair has successfully broken through the resistance level of
0.8760. We note that even keeps its uptrend line, a return to strong support level of
0.8760 would be a good opportunity to buy with a goal in 0.8900
Our bullish outlook on this pair will remain always in when the price is on the line of the
weekly pivot around 0.8748.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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EUR/USD wave analysis for April 1, 2011
http://instaforex.com/userfiles/20110401/EUR_h4.gif
During yesterday’s trading, the EUR/USD price advanced by another figure, to start
declining from the reached day’s high at 1.4237. At the same time, the inner wave structure
of the 3rd wave (or c) looks quite incomplete. Therefore, given the current wave situation,
we might suppose that after forming the 4th wave in this 3rd (or c) the euro will keep
growing in the direction the 43 figure level.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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GBP/JPY Elliott wave count and Fibonacci levels - March 4, 2011
GBP/JPY is developing impulse subwave C (colored red in the chart) within impulse wave C of medium term uptrend - colored magenta in the chart. The immediate resistances are Fibonacci expansions off 122.49-133.04-130.18, and 130.18-133.76-132.38, and also 132.38-134.42-133.84.
Resistances:
- 136.70 = contracted objective point (COP)
- 137.14 = expanded objective point (XOP)
- 138.17 = XOP
If the price reverses down the immediate supports will be Fibonacci retracements of the wave up from 132.38 - this wave is not developed yet.
http://instaforex.com/userfiles/2011...-gbpjpy-in.gif
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 price) or into the oversold area (50-60 pips to go).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com