InstaForex Wave Analysis - page 88
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GBP/JPY Elliott wave count and Fibonacci levels - October 25, 2011
GBP/JPY is developing impulse wave C (colored light green in the chart) of medium term uptrend from 116.91. Within this wave there are two subwaves (colored royal blue in the chart), and subwave B is still developing from 122.58. The targets of the downmove are Fibonacci retracements of 116.91-122.58, and expansions off 122.58-119.97-122.04, 122.04-120.93-121.91.
Supports:
- 120.80 = objective point (OP)
- 120.43 = contracted objective point (COP)
- 120.11 = expanded objective point (XOP)
- 119.75 = .50 ret
- 119.43 = OP
- 119.08 = .618 ret
- 119.00 = super expanded objective point (SXOP)
If the price keeps advancing the immediate resistances will be Fibonacci retracements of 130.81-116.78 and expansions off 116.78-120.78-116.91, 116.91-122.58-119.93, 119.93-122.04-120.93.
Resistances:
- 122.23 = COP
- 123.04 = OP
- 123.38-43 = confluence area of XOP and COP
- 123.80 = .50 retracement
Overbought/Oversold
Assuming that the major wave 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 (20-35 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels - October 25, 2011
AUD/USD is developing wave A of medium term uptrend (colored light green in the chart). Within this wave there are A, B and C subwaves (colored royal blue in the chart), and subwave C is developing from 1.0117. Within the latter wave C there are 5 subwaves (colored orange red in the chart) with subwave 5 still developing from 1.0365. The targets above the current price are Fibonacci expansions off 0.9387-1.0371-1.0117, 1.0117-1.0353-1.0146, 1.0146-1.0298-1.0163, 1.0163-1.0424-1.0365.
Resistances:
- 1.0526-28 = confluence area of contracted objective point (COP) and expanded objective point (XOP)
- 1.0561 = super expanded objective point (SXOP)
- 1.0626 = objective point (OP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 1.0146-1.0500.
Supports:
- 1.0365 = .382 retracement
- 1.0323 = .50 ret
- 1.0281 = .618 ret
Overbought/Oversold
Assuming that the larger wave is now moving up it's preferable to try long positions when the Detrended Oscillator goes below the zero level (current prices) or gets into the oversold area (10-20 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
GBP/USD wave analysis for October 25, 2011
Wave marking analysis:
Following a rather sluggish Asian session, yesterday in the afternoon
GBP/USD pair attempted to resume its upside movement, having consolidated
near the 60th figure by the end of the trading session. Thus, the pound is
most likely to be continuing shaping an internal wave structure of the
future wave (from the third one). If this is the case, proceeding from the
correlation between the waves a and c with the upside part of the trend
starting October 6, the target level for wave c (from the third one) is near
the 16200 level. Yet despite the fact that the stochastic has already
entered the overbought zone, the price may well hit the specified values.
General conclusions and trading recommendations:
Proceeding from the picture, the currency pair may well grow. The 3rd wave
is most likely to get prolonged. Proceeding from the fact that 3 in c (of
the third senior one) has not yet finished, it is recommended to keep on
trading moving towards the target of approximately 1.6210. 1.5989 and 1.6073
Fibonacci correction levels (61,8% and 76,4%) are intermediary targets. Once
the price is moving to the 1.62 level, it is recommended to clarify the wave
marking to get a more detailed vision of the situation and more precise
trading aims regarding this currency pair.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/USD Technical Analysis and Trading Recommendations for October 25, 2011
Overview:
According to the Forex market analysis for October 25, we might consider
current movement as a slight upside movement, in this case up trading is
possible. The formed sell signal is strong and confirmed, since the Chinkou
Span fixated above the price graph and the price is above the Ichimoku
cloud. At the moment the first target is 1.3988 – the first resistance
level. If this level is passed the second target will be the second
resistance level at 1.4081. Upside movement remains while the price is above
the Kijun-sen (1.3805), if the price fixates below this line it will denote
possible end of upside movement and a signal to cut long positions. The
Chinkou Span is above the price graph, which confirms the buy sell signal
and indicates bullish sentiment. The Bollinger bands show beginning upside
movement, the lines are diverging and directed up. The MACD is ascending,
which indicates current upside movement, in case the MACD reverses down we
should close long positions.
Trading recommendations:
Currently it is recommended to trade up with target at 1.3988 and further to
1.4081. Stop Loss should be placed below 1.3805 and stretched down as the
Kijun-sen increases. It is recommended to cut buy positions after the MACD
reverses down.
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
AUD/USD Elliott wave count and Fibonacci levels - October 26, 2011
AUD/USD is developing wave A of medium term uptrend (colored light green in the chart). Within this wave there are A, B and C subwaves (colored royal blue in the chart), and subwave C is developing from 1.0117. Within the latter wave C there are 4 subwaves (colored red in the chart) with subwave 4 still developing from 1.0500. The targets above the current price are Fibonacci expansions off 0.9387-1.0371-1.0117, 1.0117-1.0353-1.0146.
Resistances:
- 1.0528 = expanded objective point (XOP)
- 1.0725 = contracted objective point (COP)
- 1.0764 = super expanded objective point (SXOP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 1.0146-1.0500, and expansions off 1.0500-1.0396-1.0481.
Supports:
- 1.0323 = .50 ret
- 1.0313 = XOP
- 1.0281 = .618 ret
- 1.0209 = SXOP
Overbought/Oversold
Assuming that the larger wave is now moving up it's preferable to try long positions when the Detrended Oscillator goes below the zero level (5-10 pips below the current prices) or gets into the oversold area (20-30 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels - October 26, 2011
GBP/JPY is developing impulse wave C (colored light green in the chart) of medium term uptrend from 116.91. Within this wave there are two subwaves (colored royal blue in the chart), and subwave B is still developing from 122.58. The targets of the downmove are Fibonacci retracements of 116.91-122.58, and expansions off 122.58-119.97-122.04, 122.04-120.93-121.97.
Supports:
- 120.86 = objective point (OP)
- 120.43 = contracted objective point (COP)
- 120.17 = expanded objective point (XOP)
- 119.75 = .50 ret
- 119.43 = OP
- 119.08 = .618 ret
- 119.06 = super expanded objective point (SXOP)
If the price keeps advancing the immediate resistances will be Fibonacci retracements of 130.81-116.78 and expansions off 116.78-120.78-116.91, 116.91-122.58-119.93, 119.93-122.04-120.88.
Resistances:
- 122.18 = COP
- 122.99 = OP
- 123.38-43 = confluence area of XOP and COP
Overbought/Oversold
Assuming that the major wave 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 (20-35 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com
Fundamental Analysis, 26 October 2011
Investors continue to be optimistic, given that the currency market and the
international stock market returned to perform positively. The risk appetite
demonstrated the ability to sustain itself for nearly two weeks, now that the
European Union managed to stabilize, at least for the moment, despite the
expectations of investors are quite fragile.
In this sense, the question to be asked is whether the EU will actually be able to
carry out the day meeting to be held on Wednesday, achieve fundamental reforms that
create a solid foundation for their financial institutions. The Europeans promised
to delineate a package capable of responding to questions about existing bank
liquidity, but rumors continue to suggest that they are not presented to the banks a
clear proposal. Thus, another question to ask is what might be the consequences for
the market if investors conclude that the last two weeks of trading were guided by a
blind optimism.
For it, the new summit of European leaders, which takes place today on Wednesday, It
should make solved the problem of the debt of Greece and of other countries
potentially in problems to assume his external commitments.
It is frankly exasperating see the slowness of movements, the lack of capacity of
maneuver and the lack of skill of the principal civil servants and agents chief
executive of Europa, who do not achieve to reach an agreement that alone it has,
since of custom, a solution within reach: to place money.
Moreover, rising oil prices on Tuesday was not enough to keep the Canadian dollar to
rise, before the Bank of Canada's decision not to raise interest rates. The 1% that
was the benchmark data was expected, but, as usual, negatively affected the Loonie.
If oil maintains its upward course, the "CAD" will continue its way in the coming
days, looking back to the dollar parity.
For today are going to be published the orders of durables and the sales of housing
in the USA, but the most probable thing is that the comments and holders concerning
the summit of the authorities of the EU reduce importance to that information.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
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USD/CHF Bullish Outlook, October 26, 2011
USD/CHF
The quote of the dollar-franc pair, touching the 200-day moving average on the chart
we can see the blue line, the fall has been stopped just at this level, according to
the Fibonacci retracement is around 23.6% we believe that even still there are no
signs of a change of short-term trend, but we can be prepared in the second weekly
support about 0.8620, to take an upward position.
Therefore, all back to weekly support levels (S2, S3), about 0.8600 and below, they
represent an attractive price for the purchase. By contrast, an upward movement with
a break of 0.8900 test will confirm the continuation of the positive momentum of the
pair. Our target price is near the important resistance 0.9300 francs per dollar.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at
instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels - October 27, 2011
GBP/JPY is developing impulse wave C (colored light green in the chart) of medium term uptrend from 116.91. Within this wave there are three subwaves (colored royal blue in the chart), and potential subwave C is still developing from 119.93. Within the latter wave there also three waves (colored magenta in the chart) with subwave C developing from 120.62. The targets of the upmove are Fibonacci retracements of 130.81-116.78, and expansions off 116.78-120.78-116.91, 116.91-122.58-119.93, 119.93-122.04-120.62.
Resistances:
- 122.73 = objective point (OP)
- 122.38-43 = confluence area of expanded objective point (XOP) and contracted objective point (COP)
- 123.80 = .50 retracement
- 124.03 = XOP
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 120.62-122.01.
Supports:
- 121.32 = .50 ret
- 121.15 = .618 ret
Overbought/Oversold
Assuming that the major wave 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 (20-35 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010
More analysis - at instaforex.com