InstaForex Wave Analysis - page 114
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AUD/USD Elliott wave count and Fibonacci levels for April 9, 2012
The AUD/USD pair is developing the potential corrective wave B of the medium term uptrend (coral in the chart) from 1.0856. Within this wave there are three subwaves (light green in the chart); the subwave C is developing from 1.0636 comprising A-B-C cycle that is developing at the moment (royal blue in the chart), subwave C started at 1.0465. Within the latter we also have three subwaves (red in the chart), and potential impulse subwave C is developing from 1.0336. It also contains subwaves A-B-C (yellow in the chart, and C is developing from 1.0315.
Now the immediate supports are Fibonacci retracements 0.9861-1.0856 and expansions 1.0856-1.0423-1.0636, 1.0636-1.0304-1.0465, 1.0465-1.0243-1.0336, 1.0336-1.0272-1.0315.
Supports:
- 1.0251 = objective point (OP)
- 1.0241 = .618 retracement
- 1.0211 = expanded objective point (XOP)
- 1.0203-1.0199 = confluence area of OP and contracted objective point (COP)
The upside targets og the current price are Fibonacci retracements 1.0465-1.0243.
Resistances:
- 1.0354 = .50 ret
- 1.0380 = .618 ret
Overbought/Oversold
The larger wave is now moving downside, so it is prefereable to go short when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (30-45 pips above the current prices), watch for possibilities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CAD Elliott wave count for April 9, 2012
USD/CAD Elliott Wave
The USD/CAD pair was developing the corrective wave C (coloured green) for the last few days. The wave B (coloured blue) was finished on Tuesday at the 0.9886 level. During the Friday's session the pair was trading in a upward movement. Therefore, we can observe the price pushing to the 0.9985 level in early New York session.Today during the Asian session we could observe the strong bullish mood and price reaching above 0.9960 level. Presently we can observe the end of the C wave of the bigger (C) wave. In accordance with our wave rules and taking into account that the wave C is equal to the wave A, we can define the potential targets with Fibonacci extensions (0.9987-0.9998-0.9906); the First Take Profit at 1.0015 (100% of wave A). For Stop Loss we can use the support level 0.9945. Also it is necessary to consider the data concerning the CAD BOC Business Outlook Survey that can affect the rate of the pair
Support and Resistance levels
(S3) 0.9888 (S2) 0.9914 (S1) 0.9930 (PP) 0.9956 (R1) 0.9982 (R2) 0.9998 (R3) 1.0024
Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the upward movement. That is why long positions at level 0.9980 with Stop Loss at 0.945 and Take Profit at 1.0015 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels for April 9, 2012
The GBP/JPY pair is developing an impulse wave C of the medium term downtrend from 133.32 (light green in the chart). Within this wave we have three subwaves (royal blue in the chart), A, B, and an impulse subwave C developing from 133.19 including three subwaves (magenta in the chart) and impulse subwave C developing from 130.81. At smaller level there are A, B, and C waves (orange red in the chart); the subwave C is developing from 129.58.
Now the downside targets are Fibonacci expansions 133.42-129.94-133.32, 133.32-130.08-133.19, 133.19-129.45-130.81, 130.81-129.09-129.58.
Supports:
- 128.52-50 = confluence area of two contracted objective points (COP)
- 127.95-86 = confluence area of expanded objective point (XOP) and objective point (OP)
- 127.69 = XOP
- 127.07 = OP
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of the wave down from 133.19 - this wave is not developed yet, so resistances are not available.
Overbought/Oversold
The bigger wave is now moving downside, so it is recommended to try short positions when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (35-50 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GBP/USD Weekly and Monthly Pivot Points for April 09 - 13, 2012
The pivot points chart for the GBP / USD pair for this week indicates that pivot points are set according to the weekly highs and lows of the pair as well as the close price. This chart will enable you to place Stop Take Profits or Stop Losses. These pivot levels can serve as a trading map allowing you to know beforehand the possible increases and declines of the pair.
Therefore it is recommended to open short positions at the R1 level and long positions at the S1 level. If the weekly pivot is considered as a target, it can be a good strategy for swing trading. The strategy can be used in other way. Pariculary it is possible to open long positions in S2 positions and short R2 weekly with S1 or R1 seen as weekly targets or to the pivot point.
____WEEKLY_____
Weekly - R3 = 1.6281
Weekly - R2 = 1.6171
Weekly - R1 = 1.6023
Weekly Pivot = 1.5913
Weekly - S1 = 1.5765
Weekly - S2 = 1.5655
Weekly - S3 = 1.5507
_____MONTHLY____
Monthly - R3 = 1.6601
Monthly - R2 = 1.6318
Monthly - R1 = 1.6167
Monthly Pivot = 1.5884
Monthly - S1 = 1.5733
Monthly - S2 = 1.5450
Monthly - S3 = 1.5299
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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AUD/USD Weekly and Monthly Pivot Points for April 09 - 13, 2012
The pivot points chart for the AUD /USD pair for this week shows that pivot points are placed according to the highs and lows of the pair and the weekly closure rice. This chart will enable you to place Stop Take Profits or Stop Losses. These Pivot Levels are considered as some sort of trading map allowing you to know beforehand the possible increases and declines of the pair.
Therefore it is recommended to open the short positions at the R1 level and long positions at the S1 level. If the weekly pivot is considered as a target, it may be a reasonable strategy for swing trading. The strategy can be used otherwise by opening long positions in S2 positions, and short R2 weekly with S1 or R1 seen as weekly targets or to the pivot point.
_____WEEKLY_____
Weekly - R3 = 1.0658
Weekly - R2 = 1.0561
Weekly - R1 = 1.0436
Weekly Pivot = 1.0339
Weekly - S1 = 1.0214
Weekly - S2 = 1.0117
Weekly - S3 = 0.9992
_____MONTHLY____
Monthly - R3 = 1.1186
Monthly - R2 = 1.1001
Monthly - R1 = 1.0673
Monthly Pivot = 1.0488
Monthly - S1 = 1.0160
Monthly - S2 = 0.9975
Monthly - S3 = 0.9647
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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USD/JPY Weekly and Monthly Pivot Points for April 09 - 13, 2012
The weekly pivots chart for the USD / JPY indicate that pivot points are placed according to the maximum and minimum quotes and the weekly closure of the pair. This chart will enable to place Stop Take Profits or Stop Losses. These Pivot Levels are some sort of a trading map that will allow you to know beforehand the possible increases and declines of the pair.
Therefore, it is recommended to open the short positions at the R1 level and long positions at the S1 level. If the weekly pivot is considered as target, it may be a feasible strategy for swing trading. The strategy can be used otherwise: it is possible to open long positions in S2 positions, and short R2 weekly with S1 or R1 as seen weekly targets or to the pivot point.
____WEEKLY_____
Weekly - R3 = 84.83
Weekly - R2 = 84.06
Weekly - R1 = 82.84
Weekly Pivot = 82.07
Weekly - S1 = 80.85
Weekly - S2 = 80.08
Weekly - S3 = 78.86
____MONTHLY______
Monthly - R3 = 88.08
Monthly - R2 = 85.13
Monthly - R1 = 84.49
Monthly Pivot = 82.54
Monthly - S1 = 80.90
Monthly - S2 = 78.95
Monthly - S3 = 77.31
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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EUR/USD Weekly and Monthly Pivot Points for April 09 - 13, 2012
The pivots points chart for the EUR / USD pair for this week are placed in accordance with highs and lows and the weekly price close of the pair. This chart will enable you to place Take Profits or Stop Losses. These pivot levels can be considered as some sort of trading map allowing you to know beforehand the possible increases and declines of the pair.
Therefore it is recommended to open short positions at the R1 level and long positions at S1 level. If the weekly pivot is considered as a target, it may be a feasible strategy for swing trading. The strategy can be used in other way. In particular, it is possible to open long positions in S2 positions, and short R2 weekly with S1 or R1 as seen weekly targets or to the pivot point.
____WEEKLY_____
Weekly - R3 = 1.3652
Weekly - R2 = 1.3516
Weekly - R1 = 1.3306
Weekly Pivot = 1.3170
Weekly - S1 = 1.2960
Weekly - S2 = 1.2824
Weekly - S3 = 1.2614
____MONTHLY______
Monthly - R3 = 1.3865
Monthly - R2 = 1.3625
Monthly - R1 = 1.3483
Monthly Pivot = 1.3243
Monthly - S1 = 1.3101
Monthly - S2 = 1.2861
Monthly - S3 = 1.2719
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
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USD/CHF Technical Analysis and Trading recommendations for April 9, 2012
General picture:
On April 9 the USD/CHF pair continues the ascending movement due to the prolonged correction. Bollinger Bands are restricting though there is a still possibility of ascending movement. The current signal for Buy-deals is confirmed and strong as Chinkou Span is located above the price chart and the price has overcome the Ichimoku Cloud. Thus, the target for the uprising movement is seen at the first resistance level 0.9260. In case this level has been passed through, the new target for bullish trading – the second resistance level 0.9352. The ascending movement remains relevant as long as the price is located above the Kijun-Sen (0.9110). While bullish trading below this line it is recommended to place Stop Loss. If the price goes below this line, the signal for Buy-deals will weaken and the further elaboration of the ascending movement will be questioned. Chinkou Span is located above the price chart confirming the current signal for Sell-deals and indicating the bullish mood on the USD/CHF market. Bollinger Bands defines the current uprising movement, lines are restricting and directed upwards. That is the reason why it is better to consider long positions. MACD has reversed to downside indicating the current correction. Therefore the indicator prevents from opening new buyers orders. In case MACD reverse to upwards, long positions will be relevant again.
Trading recommendations:
On the USD/CHF market it is recommended to consider long positions with first target seen at the 0.9260 level. If the price passes this level through, the level 0.9352 will be considered as target for Buy-deals. Stop Loss is to be placed below 0.9110 levels; in case this line goes upwards, Stop Loss can be placed after it. New long positions are recommended only after the reversal of the MACD to upwards. With 50-60 pips of profit Stop Loss can be placed into the zero area. Take Profits can be placed a bit lower than target levels (10-15 pips approximately).
Apart from the technical picture it is necessary to consider the fundamental data and the time of its release.
Explanations to the picture:
Ichimoku Indicator:
Tenkan-Sen – red line
Kijun-Sen – blue line
Senkou Span A – light brown dotted line
Senkou Span B – light blue dotted line
Chinkou Span – green line
Senkou Span B – violet dotted line
Bollinger Bands:
3 yellow lines
MACD Indicator:
Red line and the histogram with white bars in the indicators window.
Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
USD/CAD Elliott wave count for April 13, 2012
USD/CAD Elliott Wave Analysis
Yesterday the USD/CAD pair was trading within the downward move. During the European session we could observe strong descending move toward to 200EMA support. Therefore during the New York session this major continue pushing in a bearish mood and we can see price at 0.9940 level. We can consider this move as the end of wave 3 (coloured blue).Today during the Asian session we could observe a pullback to 0.9960 level, and we are expecting to see price at 0.9980 today. Presently we are in corrective 4 wave (coloured blue). In accordance with our wave rules and taking into account that the wave 4 will be equal as wave 2, we can define the potential targets; the First Take Profit at 0.9969(78.6% of wave 2) and Second Take Profit at 0.9978 (100% of wave 2). For Stop Loss we can use the 0.9940 resistance level. Also it is necessary to consider the data concerning the CAD Trade Balance, NHPI m/m and USD PPI m/m, Trade Balance, Unemployment Claims, Core PPI m/m, FOMC Member Lockhart Speaks that can affect the rate of the pair.
Support and Resistance levels
(S3) 0.9874 (S2) 0.9913 (S1) 0.9936 (PP) 0.9974 (R1) 1.0013 (R2) 1.0036 (R3) 1.0074
Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the downward movement. That is why Short position at levels 0.9950 with Stop Loss at 0.9940,Take Profit 1 at 0.9969 and Take Profit 2 at 0.9978 are recommended.
Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels for April 13, 2012
The GBP/JPY pair is developing an impulse wave C of the medium term downtrend from 133.32 (light green in the chart). Within this wave we have four subwaves (royal blue in the chart), and a potential corrective subwave 4 developing from 127.82. Within this wave there are three subwaves (orange red in the chart); an impulse subwave C is developing from 128.72.
The immediate resistances are Fibonacci retracements of 133.19-127.82, and expansions of 127.82-129.29-128.72.
Resistances:
- 129.63 = contracted objective point (COP)
- 129.87 = .382 retracement
- 130.19 = objective point (OP)
- 130.51 = .50 ret
If the price continues to decline, the immediate supports will be Fibonacci expansions 133.42-129.94-133.32, 133.32-130.08-133.19, 133.19-127.82-129.51.
Supports:
- 127.69 = expanded objective point (XOP)
- 126.19 = COP
Overbought/Oversold
The bigger wave is now moving down, so it is better to try short positions when the Detrended Oscillator goes above the zero level (20-25 pips above the current prices) or into the overbought area (50-65 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels for April 13, 2012
The AUD/USD pair is developing the potential corrective wave B of the medium term uptrend (coral in the chart) from 1.0856. Within this wave there are four subwaves (light green in the chart); a potential corrective subwave 4 is developing from 1.0226. Within this wave we have A-B-C cycle that is developing at the moment (orange red in the chart), subwave C started at 1.0291.
Now the resistances are Fibonacci retracements 1.0636-1.0226.
Resistances:
- 1.0479 = .618 retracement
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 1.0226-1.0451 and expansions 1.0856-1.0423-1.0636, 1.0636-1.0226-1.0451.
Supports:
- 1.0365 = .382 ret
- 1.0338 = .50 ret
- 1.0312 = .618 ret
- 1.0203-1.0190 = confluence area of objective point (OP) and contracted objective point (COP)
Overbought/Oversold
The larger wave is now moving up, so it is better to go long when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (current prices as well). Consider the possibilities to go long at or near the indicated supports.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
People say, that you make forecasts for traders to lose their money. Is it really so? I also tried to trade on a micro account using your forecasts and unfortunatelly I've lost my money. Maybe there is a special profit method for using your forecasts?
GBP/JPY Elliott wave count and Fibonacci levels for April 17, 2012
GBP/JPY is developing impulse wave C of medium term downtrend from 133.32 (light green in the chart). Within this wave we have five subwaves (royal blue in the chart), and impulse subwave 5 is developing from 129.51. Within this wave there are two subwaves (red in the chart), and potential corrective subwave B is developing from 127.04.
The immediate resistances are Fibonacci retracements of 129.51-127.04.
Resistances:
- 127.98 = .382 retracement
- 128.28 = .50 ret
- 128.57 = .618 ret
If the downtrend resumes and the price breaks below 127.04, the immediate supports will be Fibonacci expansions off 133.42-129.94-133.32, 133.32-130.08-133.19, 133.19-127.82-129.51, 129.51-127.07-128.03.
Supports:
- 126.50 = contracted objective point (COP)
- 126.19 = COP
- 125.56 = objective point (OP)
Overbought/Oversold
The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator goes above the zero level (20-25 pips above the current prices) or into the overbought area (55-70 pips above the current prices). Watch for opportunities to go short at or near the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels for April 17, 2012
AUD/USD is developing potential impulse wave C of medium term uptrend (coral in the chart) from 1.0226. Within this wave there are two subwaves (magenta in the chart), and potential corrective subwave B is developing from 1.0451. Within this wave we have A-B-C cycle that is developing now (red in the chart), subwave C started at 1.0378.
Now the targets below are Fibonacci retracements of 1.0226-1.0451, and expansions off 1.0451-1.0311-1.0378.
Supports:
- 1.0312 = .618 retracement
- 1.0291 = contracted objective point (COP)
- 1.0238 = objective point (OP)
The targets above are Fibonacci retracements of 1.0636-1.0226.
Resistances:
- 1.0479 = .618 ret
Overbought/Oversold
The larger wave is now moving up, so it's prefereable to go long when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (15-25 pips below the current prices), watch for possibilities to go long at or near the indicated supports.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com