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EUR/USD Wave Analysis for August 6,2012



EUR/USD Elliott Wave
Since our last analysis the EUR/USD pair was trading in an upward move as we expected, developing impulsive (3) (coloured green). During the Friday's European session we could observe an ascending movement towards the 1.2290 level (daily high). Therefore, during the New York session the EUR/USD pair continued trading in a bullish mood and price hit a new 4-week high around 1.2390 level. Today during the early Asian session this major pair found resistance at 1.2442 and the price is currently trading around 1.2350 level. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.2041-1.2390-1.2132) with Take Profit 1 at 1.2480 (100% of wave 1) and Take Profit 2 at 1.2695 (161.8% of wave 1). To reduce the risk, we can use support point at 1.2350 as Stop Loss. Also it is necessary to monitor the EU Sentix Investor Confidence and U.S. Fed Chairman Bernanke Speaks data that can change the rate of the pair.
Support and Resistance
(S3) 1.2088 (S2) 1.2175 (S1) 1.2228 (PP) 1.2314 (R1) 1.2401 (R2) 1.2454 (R3) 1.2540
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is likely to begin the upward movement. For this reason long positions at level 1.2400 with Stop Loss 1.2350 Take Profit 1 1.2480 and Take Profit 2 at 1.2695 are recommended.

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

USD/CHF Wave Analysis for August 6,2012



USD/CHF Elliott Wave
Last week the USD/CHF pair was trading in an upward move until Thursday when (2) wave (coloured green) finished and we could observe price going lower on Friday when the development of the impulsive (3) wave starts. During the Friday's European session we could observe a descending movement from 0.9870 towards 0.9770 level. Therefore, during the early New York session this major pair continued trading in a bearish mood and price reached a new low at 0.9695 level. Today price started pushing higher but we are expecting to see it around 0.9450 level soon. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9972-0.9695-0.9897) with Take Profit 1 at 0.9620 (100% of wave 1) and Take Profit 2 at 0.9450 (161.8% of wave 1). To reduce the risk, we can use Resistance point at 0.9770 as Stop Loss. Also it is necessary to monitor the U.S. Fed Chairman Bernanke Speaks data that can change the rate of the pair.
Support and Resistance
(S3) 0.9578 (S2) 0.9646 (S1) 0.9688 (PP) 0.9756 (R1) 0.9824 (R2) 0.9866 (R3) 0.9934
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9700 with Stop Loss 0.9770, Take Profit 1 0.9620, and Take Profit 2 at 0.9450 are recommended.

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

AUD/CHF Wave Analysis for August 7,2012



AUD/CHF Elliott Wave
For the last few days the AUD/CHF pair was trading in a downward move, developing corrective wave (2) (coloured green) of the bigger (5) wave (coloured orange). Yesterday during the early Asian session we could observe a descending movement towards the 1.0202 and we can consider this move as the end of the C wave of the bigger (2) wave. Therefore, during the European and New York sessions the AUD/CHF pair did not manage to hold this level and price reached a new daily high at 1.0292 level. At the moment, this currency pair was developing impulsive (3) wave and we are expecting to see the price around 1.0565 level soon. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.0127-1.0345-1.0202) with Take Profit 1 at 1.0428 (100% of wave 1) and Take Profit 2 at 1.0565 (161.8% of wave 1). To reduce the risk, we can use Invalidation point at 1.0126 as Stop Loss. Also it is necessary to monitor the Swiss Foreign Currency Reserves and CPI m/m data that can change the rate of the pair.
Support and Resistance
(S3) 1.0153 (S2) 1.0188 (S1) 1.0210 (PP) 1.0245 (R1) 1.0280 (R2) 1.0302 (R3) 1.0337
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0270 with Stop Loss 1.0126 Take Profit 1 1.0428 and Take Profit 2 at 1.0565 are recommended.

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

GBP/JPY Wave Analysis for August 7,2012



GBP/JPY Elliott Wave
Yesterday the GBP/JPY pair was trading in a strong descending movement developing corrective wave 2 (coloured blue) of the bigger wave (3) (coloured green). During the Asian and the European sessions we could observe a downward movement of this exotic currency pair that brought price towards the 121.67 level and we can consider this move as the end of the 2 wave (coloured blue). Therefore, during the New York session the GBP/JPY pair did not manage to hold this level and the price started pushing higher when the development of the impulsive 3 wave (coloured blue) started. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (121.03-123.12-121.67) with Take Profit 1 at 123.73 (100% of wave 1) and Take Profit 2 at 124.97 (161.8% of wave 1). To reduce the risk, we can use Support point at 121.40 as Stop Loss. Also it is necessary to monitor the UK Manufacturing Production m/m, NIESR GDP Estimate, Industrial Production m/m data that can change the rate of the pair.
Support and Resistance
(S3) 120.88 (S2) 121.43 (S1) 121.77 (PP) 122.32 (R1) 122.87 (R2) 123.21 (R3) 123.76
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 122.20 with Stop Loss 121.40 Take Profit 1 123.73 and Take Profit 2 at 124.97 are recommended.

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

USD/JPY Intraday Technical Levels for August 8, 2012



TODAY'S TECHNICAL LEVELS:
Resistance. 3: 78.94.
Resistance. 2: 78.78.
Resistance. 1: 78.63.
Support. 1: 78.44.
Support. 2: 78.28.
Support. 3: 78.13.

DESCRIPTION:

You should watch after the levels of support. 3 (78.13) and resistance. 3 (78.94), 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/CHF Wave Analysis for August 8,2012



USD/CHF Elliott Wave
For the last few days the USD/CHF pair was trading in a downward move developing motive wave 1 (coloured blue) of the bigger (3) wave (coloured green). During the early European session we could observe a strong descending movement towards the 0.9657 level and we can regard this move as the end of the 1 wave (coloured blue). Therefore, during the early New York session this major pair did not manage to hold this level and the price started pushing higher when the development of the corrective 2 wave (coloured blue) started. 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 (0.9897-0.9657) with Take Profit 1 at 0.9777 (50% of wave 1) and Take Profit 2 at 0.9805 (61.8% of wave 1). To reduce the risk, we can use support at 0.9660 as Stop Loss. Also it is necessary to monitor the Swiss SECO Consumer Climate and U.S.Prelim Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q, Crude Oil Inventories, 10-y Bond Auction data that can change the rate of the pair.
Support and Resistance
(S3) 0.9634 (S2) 0.9653 (S1) 0.9665 (PP) 0.9683 (R1) 0.9702 (R2) 0.9714 (R3) 0.9732
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9720 with Stop Loss 0.9660 Take Profit 1 0.9777 and Take Profit 2 at 0.9805 are recommended.

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

EUR/USD Wave Analysis for August 8,2012



EUR/USD Elliott Wave
From the beginning of August the EUR/USD pair was trading in an upward move, developing impulsive 1 wave (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the Asian and European sessions we could observer an ascending movement from 1.2375 towards the 1.2442 and we can consider this move as the end of the 5 wave of the bigger wave 1 (coloured blue). Therefore, during the New York session the EUR/USD pair did not manage to hold this level and the price retraced to the 1.2392 level. At the moment we can observe the beginning of the corrective 2 wave (coloured blue) and we are expecting to see the price around 1.2260 level soon. 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 (1.2134-1.2442) with Take Profit 1 at 1.2291 (50% of wave 1) and Take Profit 2 at 1.2254 (61.8% of wave 1). To reduce the risk, we can use resistance at 1.2440 as Stop Loss. Also it is necessary to monitor the EU German Industrial Production m/m, German 10-y Bond Auction and U.S. Prelim Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q, Crude Oil Inventories, 10-y Bond Auction data that can change the rate of the pair.
Support and Resistance
(S3) 1.2339 (S2) 1.2364 (S1) 1.2380 (PP) 1.2405 (R1) 1.2430 (R2) 1.2446 (R3) 1.2471
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2360 with Stop Loss 1.2440 Take Profit 1 1.2291 and Take Profit 2 at 1.2254 are recommended.

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

EUR/USD Wave Analysis for August 9,2012



EUR/USD Elliott Wave
Since our last analysis, the EUR/USD pair was trading in a downward move developing corrective wave A (coloured purple) of the bigger 2 wave (coloured blue). Yesterday during the Asian and European sessions we could observe a descending movement from 1.2400 towards the 1.2325 level and we can consider this move as the end of the A wave. Therefore, during yesterday's New York session and today ‘s Asian session this major pair did not manage to hold this level and the price started pushing higher when the development of the B wave (coloured purple) started. At the moment the EUR/USD pair is trading around 1.2345 level and we are expecting to see the price around 1.2260 level today. In accordance with our wave rules and taking into account that the wave C retraces 100% of the wave A, we can define the potential targets with Fibonacci extensions (1.2441-1.2326-1.2385) with Take Profit at 1.2261 (100% of wave A). To reduce the risk, we can use resistance at 1.2400 as Stop Loss. Also it is necessary to monitor the EU ECB Monthly Bulletin, Italian Trade Balance and U.S. Trade Balance, Unemployment Claims data that can change the rate of the pair.
Support and Resistance
(S3) 1.2288 (S2) 1.2317 (S1) 1.2335 (PP) 1.2364 (R1) 1.2393 (R2) 1.2411 (R3) 1.2440
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2340 with Stop Loss 1.2400 and Take Profit 1.2261 are recommended.

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

AUD/CAD Weekly Wave Analysis 2012-08-09


AUD/CAD Elliott Wave
During last month the AUD/CAD pair was trading in an upward move until Monday when impulsive (5) wave (coloured green) of the bigger wave (1) (coloured orange) finished and we could observe the price going lower for the last few days when the development of the corrective (2) wave starts. Yesterday during the European and New York sessions we could see a strong descending movement towards the 1.0498 level (new 4 days low). At the moment, the price is trading around 1.0510 level and we are expecting to find it around 1.0200 in the next few weeks. In compliance with our wave rules and keeping in mind that the wave 2 retraces 61.8% of the wave 1, we can specify the potential targets with Fibonacci retracement (0.9952-1.0593) ,Take Profit 1 at 1.0351 (38.2% of wave 1), and Take Profit 2 at 1.0200 (61.8% of wave 1). To reduce the risk, we can use resistance at 1.0590 as Stop Loss. Moreover, it is necessary to monitor the AUD Unemployment Claims, Unemployment Rate and CAD Housing Starts, NHPI m/m, Trade Balance data that can change the rate of the pair.
Support and Resistance
(S3) 1.0484 (S2) 1.0496 (S1) 1.0503 (PP) 1.0516 (R1) 1.0528 (R2) 1.0535 (R3) 1.0548
Trading Forecast
On the basis of Elliott Wave rules today, the trend is tend to begin the downward movement. For this reason short positions at level 1.0500 with Stop Loss 1.0590, Take Profit 1 1.0351, and Take Profit 2 1.0200 are recommended.

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

USD/JPY Intraday Technical Levels for August 10, 2012

TODAY'S TECHNICAL LEVELS:

Resistance. 3: 79.01.

Resistance. 2: 78.85.

Resistance. 1: 78.70.

Support. 1: 78.50.

Support. 2: 78.34.

Support. 3: 78.19.


Description:

You ought to consider the levels of support. 3 (78.19) and resistance. 3 (79.01), 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.


More analysis - at instaforex.com