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AUD/USD Elliott wave count and Fibonacci levels for December 27, 2011
AUD/USD is developing potential impulse wave C of medium term downtrend (colored light green in the chart) from 1.0379. Within this wave there are three subwaves (colored magenta in the chart) with potential impulse subwave С developing from 1.0218. The latter also has its subwaves - A, B, and C (colored red in the chart). The targets below the current price are Fibonacci retracements of 0.9883-1.0218, and expansions off 1.0218-1.0051-1.0180, 1.0180-1.0130-1.0172.
Supports:
- 1.0122 = objective point (OP)
- 1.0091 = expanded objective point (XOP)
- 1.0077 = contracted objective point (COP)
- 1.0051-41 = confluence area of .50 retracement and super expanded objective point (SXOP)
- 1.0013-11 = confluence area of OP and .618 ret
If the price keeps advancing the immediate resistances will be Fibonacci retracements of 1.0379-0.9861, and expansions off 0.9861-1.0218-1.0051, 1.0051-1.0180-1.0130.
Resistances:
- 1.0210 = COP
- 1.0259 = OP
- 1.0268-72 = confluence area of .786 ret and COP
- 1.0339 = XOP
Overbought/Oversold
Assuming that the larger wave is now moving down it's preferable to try short positions when the Detrended Oscillator goes above the zero level (5-10 pips above the current prices) or gets into the overbought area (35-50 pips above the current prices), watch for entries short at the specified resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels for December 27, 2011
GBP/JPY is developing corrective wave B (colored light green in the chart) of medium term downtrend from 119.31. Within this wave there are A, B, and C subwaves (colored royal blue in the chart), with subwave С still developing from 120.23. Within the latter there are 2 subwaves (colored magenta in the chart). The targets of the upmove are Fibonacci retracements of 127.25-119.31, and expansions off 119.31-122.64-120.23, 120.23-122.71-121.54.
Resistances:
- 123.07 = contracted objective point (COP)
- 123.28 = .50 retracement
- 123.56 = objective point (OP)
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 120.23-122.71, and expansions off 122.71-121.54-121.92.
Supports:
- 121.47 = .50 ret
- 121.20-18 = confluence area of COP and .618 ret
- 120.75 = OP
Overbought/Oversold
Assuming that the major wave is now moving up it's preferable to try long positions when the Detrended Oscillator gets below the zero level (10-15 pips below the current prices) or into the oversold area (30-40 pips below the current prices), watch for entries long at the specified supports.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
GBP/USD Intraday Technical Analysis & Trade Recommendation December 28, 2011
Lately the GBP/USD formed a Head & Shoulders reversal pattern after hiting the resistance level at 1.5770.
Since then the pair has been moving sideways inside the marked channels on the chart.
The Yellow channel is slightly bearish while the violet & blue ones are bullish.
Today at earlier time the pair broke the violet channel to the downside indicating bearish domination.
Now the pair is testing the backside of the broken channel & the upper limit of the yellow bearish channel indicating a bearish opportunity at 1.5690.
SL should be placed above 1.5720 & TP at 1.5645, 1.5600 then 1.5560.
Performed by Mohamed Samy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels for December 28, 2011
GBP/JPY is developing corrective wave B (colored light green in the chart) of medium term downtrend from 119.31. Within this wave there are A, B, and C subwaves (colored royal blue in the chart), with subwave С still developing from 120.23. Within the latter there are 2 subwaves (colored magenta in the chart). The targets of the upmove are Fibonacci retracements of 127.25-119.31, and expansions off 119.31-122.64-120.23, 120.23-122.71-121.54, 121.54-122.21-121.65.
Resistances:
- 122.06 = contracted objective point (COP)
- 122.32 = objective point (OP)
- 122.73 = expanded objective point (XOP)
- 123.07 = COP
- 123.28 = .50 retracement
- 123.56 = OP
If the price reverses to the downside the immediate supports will be Fibonacci retracements of 120.23-122.71, and expansions off 122.71-121.54-121.92.
Supports:
- 121.47 = .50 ret
- 121.20-18 = confluence area of COP and .618 ret
- 120.75 = OP
Overbought/Oversold
Assuming that the major wave is now moving up it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (15-25 pips below the current prices), watch for entries long at the specified supports.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
Fundamental Analysis, December, 28 / 2011
The currency market movements remains largely in these hours, a stillness that has held since last Friday, on the eve of the feast of Christmas.
The major pairs have no definite trends in the short term, allowing a glimpse of intraday positions, and paradoxically, only the yen, which is the currency has moved less this year, which is providing some small rally, if bullish.
European stock markets operate with a 1% gain on average, just over the south, while Dow Jones futures are slightly bullish before the opening of the NYSE.
This pause that has taken the currency market is not free: usually, after them, are generated very strong movements that define medium-term trends. In principle, the dollar could benefit from the coming currency movements, given that the European currencies, particularly the euro and Swiss franc, still pointing downwards in the long term.
The two most important are related currencies, gold and oil, this time presented in an uneven performance. While the falls from $ 1600 an ounce and traded at $ 1585 at the time, tending slightly bearish in the short term, the WTI barrel exceeds $ 100, without much force pushing the Canadian dollar, but with little effect on other currencies bound by it, the Mexican peso, which has not been away from the 14 per dollar.
No economic data for the next hours, the expectation goes through the U.S. session opening, which can bring some movement to foreign exchange.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
AUD/USD Elliott wave count and Fibonacci levels for December 29, 2011
AUD/USD is now moving within impulse wave C of medium term downtrend (colored light green in the chart) from 1.0379. On smaller timeframes this wave consists of three subwaves (colored royal blue in the chart) with potential impulse subwave С still developing from 1.0218. The latter also contains smaller waves (colored magenta in the chart). We calculate the targets below using Fibonacci retracements of 0.9883-1.0218, and expansions off 1.0752-0.9663-1.0379, 1.0379-0.9861-1.0218, 1.0218-1.0051-1.0202.
Supports:
- 1.0040-35 = confluence area of .50 retracement and objective point (OP)
- 0.9997 = .618 ret
- 0.9937-32 = confluence area of .786 ret and expanded objective point (XOP)
- 0.9898 = contracted objective point (COP)
If the price keeps moving up the immediate resistances will be Fibonacci retracements of 1.0202-1.0044.
Resistances:
- 1.0104 = .382 ret
- 1.0123 = .50 ret
- 1.0142 = .618 ret
- 1.0168 = .786 ret
Overbought/Oversold
Assuming that the larger wave is now moving down it's preferable to try short positions when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (25-40 pips above the current prices), watch for entries short at the indicated resistances.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
GBP/USD Intraday Technical Analysis & Trade Recommendation December 29, 2011
Yesterday we suggested selling GBP/USD currency pair at 1.5690 which hit all TP levels very quickly.
Now retracement is expected after visiting the lower limit of the marked bearish channels at 1.5435 which was slightly breached shortly before the pair came back above.
Now the pair is testing the upper limit of the violet channel at 1.5485 which if broken will open the way for a retracement movement targetting 1.5555.
Based on the previous analysis, the marked indicates a bullish opportunity on the break of 1.5485 with TP at 1.5510, 1.5540, 1.5566 then 1.5595.
SL should be 1H closure below 1.5440.
Performed by Mohamed Samy, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
USD/CHF: Technical Analysis for December 29 -- 30, 2011
Overview:
USD/CHF:
It should be noted that the price has still been trapped between 0.955 -- 0.917 and the price has been set above strong support at the levels of 0.9227 / 0.9173 (0.9173: 61.8% of Fibonacci retracement levels on H4chart). Aswell it is noting that these levels are coinciding between 61.8% and 100% of Fibonacci retracement levels on H4 chart and the pair has already formed a strong resistance at this level of 0.955 and it is now approaching from it in order to test it. Therefore the Swissy will be a downside momentum is rather convincing and the structure of the fall looks is not corrective, in order to indicate a bearish opportunity below 0.955 for that it will a good sign to sell below 0.955 with a first target of 0.943 and it will call for downtrend in order to continue bearish towards 0.9331. Furthermore, it also have to note that the price at 0.9227 will be possible formed a strong support (0.9173: 61.8% of Fibonacci retracement levels on H4 chart). So it will be saturation around 1.918 to rebound the pair, aswell it will probably that the market is going to start showing the signs of bullish market. In other words, it will be a good sign to buy above 0.918 with a first target of 0.93 and continue towards 0.943.
Performed by Mourad El Keddani, Analytical exper
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
Fundamental Analysis, December, 29 / 2011
We said in previous reports that, unless something important happened, the forex market was not going to
provide appropriate movements this week.
That "something" happened, and was the European Central Bank in charge of generating a stampede against
its currency, the euro.
The nearly 3 billion euros in the state remain deposited by the banks were sufficient to bring the market
lethargy, and make the single currency reaches its annual minimum just a day before the end of the
period.
Technically alarming measured in terms of monthly charts for those who bet on a rising euro. It is known
that a maximum or minimum closure at any timing, indicating a high probability of trend continuation.
Imagine this in monthly charts what it means. And we still have two days of activity.
It is a reflection on the matter. Such a mass of liquidity has not served even in part to relieve the
distressing situation in Europe. And all that was achieved was that the dollar, until recently beaten,
take force on all fronts.
So now the euro is seen as the minimum annual bankruptcy, the British pound for the minimum of 3 months,
and coins "commodities" are weakened, alongside oil and gold, especially the latter.
Nevertheless, European exchanges have no losses, while averaging the session, and in some cases earn
modest profits.
The slight optimism that had been generated in the market for the placement of debt by the Italian
Treasury on Wednesday at usual rates for an economy on the strength of Italy, was diluted a few hours:
the placing of today, Thursday, returned to have a rate close to 7%.
As significant data for the U.S. session, expected weekly unemployment requests at 8:30 Eastern, the
Chicago PMI at 9:45 and pending home sales at 10:00.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
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EUR/USD Bullish Outlook, December 29, 2011 (Monthly Strategy)
The unified currency, this day reached its annual minimum. Because the European Central Bank in charge of
generating a stampede contrary to its currency.
We had mentioned in a previous analysis that if the euro broke its uptrend that guided him, would have a
fall to the second support weekly. can review the full report:
instaforex.com/forex_analysis/46911/
However, in the monthly chart shown above, we note that the Euro-Dollar pair is just above its monthly
support at 1.2849, if we notice a trend line that started in July 2001 maintained the upward trend in the
long time. Since the fall of the euro to 1.4933 leads to the minimum today(1.2860), has not been a
significant correction, therefore, our outlook is bullish. only if the pair closes the month of December
and the year 2011 over m_2 (1.2849) Our stop loss is adjusted to 1.2790. Our long term we will place in
the resistance around 1.4170 monthly. dollars per euro.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com
GBP/JPY Elliott wave count and Fibonacci levels for January 2, 2011
GBP/JPY is developing impulse wave C (colored light green in the chart) from 122.71. This wave is confirmed since the price broke below 119.31 (top of wave A). Within this wave we have four subwaves (colored red in the chart), and potential subwave 4 is developing from 119.21. The targets of the upmove are Fibonacci retracements of 122.71-119.21, 122.21-119.21.
Resistances:
- 120.36 = .382 retracement
- 120.55 = .382 ret
- 120.71 = .50 ret
- 120.96 = .50 ret
- 121.06 = .618 ret
If the price breaks below 119.21, subwave 5 will continue. The targets of the downmove will be Fibonacci expansions off 127.25-119.31-122.71, 122.71-121.54-122.21, 122.21-119.21-119.99.
Supports:
- 118.14 = contracted objective point (COP)
- 117.80 = COP
- 116.99 = objective point (OP)
Overbought/Oversold
Assuming that the major wave is now moving down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (10-15 pips above the current prices) or into the overbought area (30-40 pips above the current prices), watch for entries short at the indicated supports.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2011
More analysis - at instaforex.com