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USD/JPY Intraday Technical Levels for August 20, 2012



TODAY'S TECHNICAL LEVELS:

Resistance. 3: 80.01.

Resistance. 2: 79.85.

Resistance. 1: 79.70.

Support. 1: 79.50.

Support. 2: 79.35.

Support. 3: 79.19.


DESCRIPTION:
Please, pay attention to the levels of support. 3 (79.19) and resistance. 3 (80.01), 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 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/JPY Intraday Technical Levels for August 22, 2012



Today’s Technical Levels:
Resistance 3: 79.63.
Resistance 2: 79.47.
Resistance 1: 79.31.
Support 1: 79.12.
Support 2: 78.96.
Support 3: 78.80.
Description:
Please, pay attention to the levels of support 3 (78.80) and resistance 3 (79.63). 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 that these currencies have found trends today.

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

EUR/USD Intraday Technical Levels for August 22, 2012



Today’s Technical Level:
Breakout BUY Level: 1.2534.
Strong Resistance: 1.2528.
Original Resistance: 1.2516.
Inner Sell Area: 1.2504.
Target Inner Area: 1.2474.
Inner Buy Area: 1.2444.
Original Support: 1.2432.
Strong Support: 1.2420.
Breakout SELL Level: 1.2412.
Description:
Today EUR/USD has support and resistance at 1.2432 and 1.2516 and is accompanied by strong support at 1.2420 and by 1.2528 as strong resistance.
If EUR/USD breaks out and closes below 1.2412 level today, this will indicate a considerable bearish strength, while if EUR/USD manages to break out and close above 1.2534 level, this will denote a high bullish strength. Alternatively, for advance traders, you can trade in a way to open BUY position at the level of 1.2444 and SELL position at 1.2504; in this case both targets should be located at the level of 1.2474.

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

EUR/JPY Elliott Wave Analysis for August 22 - 2012



Today's Support and Resistance Levels:
S1: 98.70 R1: 99.07
S2: 98.56 R2: 99.43
S3: 98.43 R3: 99.76
Technical Overview:
We saw, indeed, the low of blue wave iv at 97.73 and now close to the end of blue wave v and red wave 3 which is higher (a high which ideally will be found near 99.42). Looking at blue wave v itself, we can see three finished waves, currently working at wave iv, which we expect to end in the 98.56 - 98.70 area for the last rally towards the ideal target at 99.42. Once blue wave v and red wave 3 are finished, we should see a shallow red wave 4 towards 98.37 or even lower towards 97.86 before red wave 5 takes higher over for a rally towards the 100.15 - 100.58 area.
Trading Recommendation:
You should be long EUR against JPY from 95.85. Lift the stop from 97.45 to 97.75 leaving you with a nice profit of at least 190 pips no matter what happens. If you are not long EUR already, you should wait to buy EUR near 98.56 with the same stop.

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

USD/JPY Intraday Technical Levels for August 23, 2012



Today’s Technical Levels:
Resistance 3: 78.95.
Resistance 2: 78.79.
Resistance 1: 78.64.
Support 1: 78.45.
Support 2: 78.29.
Support 3: 78.13.

Description:
Please, pay attention to the levels of support 3 (78.13) and resistance 3 (78.95). 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 that these currencies have found trends today.


More analysis - at instaforex.com

EUR/JPY Elliott Wave Analysis for August 24 - 2012



Today's Support and Resistance Levels:

S1: 98.26 R1: 99.02

S2: 98.07 R2: 99.18

S3: 97.80 R3: 99.37

Technical Overview:
It seems that red wave 4 became even shallower than we expected. We have most likely seen the end of red wave 4 at 98.08 and should ideally see a break above minor resistance at 99.02 soon for a move higher towards the red wave 5 and black wave 3, target at 99.72. Once we have ended red wave 5 and black wave 3, we should see a new shallow black wave 4. Due to Elliott's alternation principle, that says, that if wave 2 was a simple and deep correction, wave 2 should be shallow but complex in its structure.
At no point should we break below the top of red wave 1 at 97.80 before we have seen at least a new high above the top of red wave 3 at 99.18.
Trading Recommendation:
You should be long EUR against JPY from 95.85. Lift your stop from 97.45 to 97.75 which will give you a profit of 190 pips if triggered, which we do not expect.
If you are not long EUR already, you can buy here with the same stop and take profit at 99.50.

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

AUD/USD Wave Analysis for August 24,2012



AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in a downward move, developing corrective wave E (coloured orange). Yesterday during the European and New York sessions we could observe a descending movement from 1.0544 towards the 1.0435 level and we can consider this move as the beginning of the impulsive 3 wave of the bigger wave (A) (coloured green). At the moment the AUD/USD pair is trading around 1.0420 and we are expecting to see price lower today. 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 (1.0613-1.0410-1.0544) with Take Profit 1 at 1.0336 (100% of wave 1) and Take Profit 2 at 1.0211 (161.8% of wave 1). To reduce the risk, we can use resistance at 1.0445 level as Stop Loss.
Support and Resistance
(S3) 1.0364 (S2) 1.0406 (S1) 1.0432 (PP) 1.0474 (R1) 1.0516 (R2) 1.0542 (R3) 1.0584
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0410 with Stop Loss 1.0445, Take Profit 1 1.0336, and Take Profit 2 1.0211 are recommended.

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

EUR/NZD - Elliott Wave Analysis for August 27 - 2012



Today's Support and Resistance Levels:

S1: 1.5395 R1: 1.5465

S2: 1.5323 R2: 1.5495

S3: 1.5270 R3: 1.5555

Technical Overview:
Our preferred count still shows that we are in an Expanded Flat correction from 1.5443. Taking into account this Expanded Flat correction, we are currently in the final wave c down, which ideally should take us down to support near 1.5195, which both marks the 50% retracement of the rally from 1.4968 to the top at 1.5443 and also marks the bottom of red wave iv, which is a very common target for the second wave corrections. Ideally, we will see a break below minor support at 1.5420 and more importantly 1.5395 soon, to confirm the decline towards the ideal corrective target near 1.5195.
Only a break above 1.5483 will be of concern to our preferred count.
Trading Recommendation:
We are short EUR against NZD at 1.5420 with a 1.5585 stop. We will move the stop down to 1.5525 and lower it again to 1.5485 upon a break below 1.5395. We will take profit at 1.5205. If you are not short EUR already, you can sell EUR upon a break below 1.5420 with the same stop and take profit levels.

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

USD/CHF Wave Analysis for August 27,2012



USD/CHF Elliott Wave
Last week the USD/CHF pair was trading in a downward move developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green). During the Friday's Asian and European sessions we could observe an ascending movement towards the 0.9620 and we can consider this move as the end of the (4) wave (coloured purple). Therefore, during the early New York session the USD/CHF pair started pushing lower when developing of the (5) wave starts (coloured purple). At the moment this major pair is developing final impulsive (5) wave of the bigger 3 wave (coloured blue) and we are expecting to see the price around 0.9415 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 (0.9798-0.9699-0.9767), with Take Profit at 0.9416 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 0.9696 level as Stop Loss. Also it is necessary to monitor the U.S.FOMC Member Pianalto Speaks data that can change the rate of the pair.
Support and Resistance
(S3) 0.9521 (S2) 0.9547 (S1) 0.9563 (PP) 0.9590 (R1) 0.9616 (R2) 0.9632 (R3) 0.9659
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9570 with Stop Loss 0.9696 and Take Profit 0.9416 are recommended.

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

EUR/USD Wave Analysis for August 27,2012



EUR/USD Elliott Wave
Last week the EUR/USD pair was trading in an upward move developing corrective (C) wave (coloured green) of the bigger wave (4) wave (coloured orange). During the early Friday's European session we could observe a descending movement from 1.2563 towards the 1.2480 level. Therefore, during the New York session this major pair did not manage to hold this level and the price retraced back to the 1.2560 level. At the moment the EUR/USD pair is developing an impulsive (5) wave (coloured orange) and we are expecting to see the price around 1.2000 level this week. In accordance with our wave rules and taking into account that the wave 5 retraces 161.8% of the wave 1, we can define the potential targets with measuring 1 wave, Take Profit 1 at 1.1933 (138.2% of wave 1) and Take Profit 2 at 1.1820 (161.8% of wave 1). To reduce the risk, we can use resistance at 1.2590 level as Stop Loss. Also it is necessary to monitor the EU German Ifo Business Climate and U.S.FOMC Member Pianalto Speaks data that can change the rate of the pair.
Support and Resistance
(S3) 1.2433 (S2) 1.2466 (S1) 1.2487 (PP) 1.2520 (R1) 1.2553 (R2) 1.2574 (R3) 1.2607
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2480 with Stop Loss 1.2590, Take Profit 1 1.1933 and Take Profit 2 1.1820 are recommended.

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