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USD/CAD Weekly Wave Analysis 2012-07-20



USD/CAD Elliott Wave
Yesterday we preformed short term analysis for the USD/CAD pair and today we want to examine a larger time frame for swing traders. Yesterday during the Asian and European sessions we could observe a descending movement towards the 1.0065 level. Therefore, during the New York session the USD/CAD pair did not manage to hold this level and the price started trading in a sideways move. At the moment price is still trading in a sideways move and we are expecting to see the last push to the downside today. In accordance with our wave rules and taking into account that the wave 3 retraces minimum 100% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9800-1.0445-1.0050) wave with Take Profit 1 at 1.0660(100% of wave 1) and Take Profit 2 at 1.1057(161.8% of wave 1). Invalidation at 0.9800 point can be used as Stop Loss. Also it is necessary to monitor the CAD Core CPI m/m and CPI m/m data that can change the rate of the pair.
Support and Resistance
(S3) 1.0039 (S2) 1.0055 (S1) 1.0065 (PP) 1.0081 (R1) 1.0097 (R2) 1.0107 (R3) 1.0123
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0050 with Stop Loss 0.9800 Take Profit 1 at 1.0660 and Take Profit 2 at 1.1057 are recommended.


Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/JPY Intraday Technical Levels for Jully 23, 2012



Today’s Technical Levels:
Resistance 3: 78.52.
Resistance 2: 78.41.
Resistance 1: 78.30.
Support 1: 78.16.
Support 2: 78.05.
Support 3: 77.94.
Description:
Please, pay attention to the levels of support 3 (77.94) and resistance 3 (78.52) in general when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign of that these currencies have found trends today.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/CAD Wave Analysis July 23, 2012



USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in an upward move developing impulsive wave 1 (coloured blue) of the bigger wave (1) (coloured green).During the Friday’s Asian and European sessions we could observe an ascending movement towards the 1.0130 level where this major pair found resistance and price started pushing lower. Therefore, during the New York session the USD/CAD pair didn't manage to hold this level and the price continued trading in a bullish mood till the end of the session. Today we could observe the price trading around 1.0160 level, and we can consider this level as the end of the wave 1 (coloured blue). In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracement (1.0065-1.0160) with Take Profit 1 at 1.0111 (50% of wave 1) and Take Profit 2 at 1.0100 (61.8% of wave 1). Resistance at 1.0185 point can be used as Stop Loss.
Support and Resistance
(S3) 1.0045 (S2) 1.0069 (S1) 1.0083 (PP) 1.0107 (R1) 1.0131 (R2) 1.0145 (R3) 1.0169
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0150 with Stop Loss 1.0185, Take Profit 1 at 1.0111 and Take Profit 2 at 1.0100 are recommended.

Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

EUR/USD Under 1.2000 Today - Analysis July 23, 2012



EUR/USD Elliott Wave
Last week the EUR/USD pair was trading in an upward move developing corrective wave (4) (coloured green) of the bigger (5) wave (coloured orange). During the Friday's European and New York sessions we could observe a strong descending movement towards the 1.2142 level. Today this major pair opened Asian session with 20 pips gap and price is currently trading around 1.2110 level. At the moment the EUR/USD pair is developing the last (5) wave (coloured green) of the bigger (5) (coloured orange) and we are expecting to see price under 1.2000 level today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 1.1983 (100% of wave 1). Resistance at 1.2175 point can be used as Stop Loss. Also it is necessary to monitor the EU Consumer Confidence data that can change the rate of the pair.
Support and Resistance
(S3) 1.2057 (S2) 1.2110 (S1) 1.2142 (PP) 1.2195 (R1) 1.2248 (R2) 1.2280 (R3) 1.2333
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2105 with Stop Loss 1.2175 and Take Profit at 1.1983 are recommended.

Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

EUR/USD Intraday Technical Levels for July 24, 2012



Today’s Technical Level:
Breakout BUY Level: 1.2186.
Strong Resistance: 1.2178.
Original Resistance: 1.2167.
Inner Sell Area: 1.2155.
Target Inner Area: 1.2127.
Inner Buy Area: 1.2103.
Original Support: 1.2087.
Strong Support: 1.2075.
Breakout SELL Level: 1.2068.
Description:
Today EUR/USD has support and resistance at 1.2087 and 1.2167 and is accompanied by strong support at 1.2075 and by 1.2178 as strong resistance.
If EUR/USD breaks out and closes below a 1.2068 level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2186 level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2103, and SELL position at 1.2155; in this case both targets should be located at the level of 1.2127.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/CHF Wave Analysis July 24, 2012



USD/CHF Elliott Wave
For the last few days the USD/CHF pair was trading in an upward move developing impulsive (5) wave (coloured green) of the bigger wave (5) (coloured orange). Yesterday during the Asian and European sessions we could observe an ascending movement towards the 0.9945 level and we can consider this move as the end of the 3 impulsive wave (coloured blue). Therefore, during the New York session the USD/CHF did not manage to hold this level and the price reached 0.9888 level (end of 4 wave). Today this major pair started pushing higher, the price is currently trading around 0.9915 level and we are expecting to see it around 0.9969 today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 0.9963 (100% of wave 1). Support at 0.9900 point can be used as Stop Loss. Also it is necessary to monitor the U.S. Fed Chairman Bernanke Speaks, Flash Manufacturing PMI data that can change the rate of the pair.
Support and Resistance
(S3) 0.9853 (S2) 0.9877 (S1) 0.9892 (PP) 0.9916 (R1) 0.9940 (R2) 0.9955 (R3) 0.9979
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9920 with Stop Loss 0.9900 and Take Profit at 0.9963 are recommended.

Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

EUR/USD Wave Analysis July 24, 2012



EUR/USD Elliott Wave
Since our Last analysis the EUR/USD pair was trading in an upward move developing corrective wave 4 (coloured blue) of the bigger (5) wave (coloured green). During the early European session we could observe a descending movement towards the 1.2070 level and we can consider this move as the end of the impulsive 3 wave (coloured blue). Therefore, during the New York session this major pair started pushing higher and price filled Monday gap at 1.2148 level and we can regard this move as the end of the 4 wave (coloured blue). Today the EUR/USD pair started pushing lower developing final 5 wave (coloured blue) of the bigger (5) wave (coloured green). In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 1.1983 (100% of wave 1). Resistance at 1.2150 point can be used as Stop Loss. Also it is necessary to monitor the EU German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI, BBA Mortgage Approvals and U.S. Fed Chairman Bernanke Speaks, Flash Manufacturing PMI data that can change the rate of the pair.
Support and Resistance
(S3) 1.2032 (S2) 1.2061 (S1) 1.2080 (PP) 1.2109 (R1) 1.2138 (R2) 1.2157 (R3) 1.2186
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2100 with Stop Loss 1.2150 and Take Profit at 1.1983 are recommended

Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/JPY Intraday Technical Levels for July 25, 2012



Today’s Technical Levels:
Resistance 3: 78.55.
Resistance 2: 78.39.
Resistance 1: 78.24.
Support 1: 78.06.
Support 2: 77.90.
Support 3: 77.74.
Description:
Please, pay attention to the levels of support 3 (77.74) and resistance 3 (78.55). In general, when a level is touched, USD/JPY will rebound from the previous minimum by10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found their trends today.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/CAD Wave Analysis for July 25, 2012



USD/CAD Elliott Wave
For the last few days the USD/CAD pair was trading in an upward move from 1.0065 level developing impulsive wave 1 (coloured blue) of the bigger wave (1) (coloured green). Yesterday, during the European and early New York sessions, we could observe a descending movement towards the 1.0156 level. Therefore, during the second half of the NY session, the USD/CAD pair failed to hold this level and the price reached 1.0226 level. Today, during the early Asian session, this major pair finished developing of the impulsive wave 1 (coloured blue) at 1.0230 level and we are expecting to see the price trading in bearish mood for the next few days. In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (1.0065-1.0230) with Take Profit at 1.0128 (61.8% of wave 1). End of the wave 1 at 1.0230 level can be used as Stop Loss. Also it is necessary to monitor the U.S. New Home Sales, Treasury Sec Geithner Speaks, Crude Oil Inventories data that can change the rate of the pair.
Support and Resistance
(S3) 1.0107 (S2) 1.0132 (S1) 1.0176 (PP) 1.0201 (R1) 1.0245 (R2) 1.0270 (R3) 1.0314
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0200 with Stop Loss 1.0230 and Take Profit at 1.0128 are recommended.

Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

EUR/USD Wave Analysis for July 25, 2012



EUR/USD Elliott Wave
Since our last analysis the EUR/USD pair was trading in a downward move as we predicted yesterday. During the European and New York sessions we could observe a descending movement from 1.2140 towards the 1.02043 level. Today this major pair did not manage to hold yesterday’s bearish mood and the price started pushing higher reaching a new daily high at 1.2082 level. The EUR/USD pair is currently developing last impulsive wave 5 (coloured blue) of the bigger wave (5) (coloured green) and we are expecting to see price at 1.2000 today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 1.1983 (100% of wave 1). Resistance at 1.2125 point can be used as Stop Loss. Also it is necessary to monitor the EU German Ifo Business Climate, Prelim GDP q/q, Belgium NBB Business Climate and U.S. New Home Sales, Treasury Sec Geithner Speaks, Crude Oil Inventories data that can change the rate of the pair.
Support and Resistance
(S3) 1.1928 (S2) 1.1928 (S1) 1.2023 (PP) 1.2080 (R1) 1.2118 (R2) 1.2175 (R3) 1.2213
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2080 with Stop Loss 1.2125 and Take Profit at 1.1983 are recommended

Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com