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USD/CHF Wave Analysis for August 31,2012



USD/CHF Elliott Wave
Since our last analysis the USD/CHF pair was trading in an upward move, developing final 5 wave (coloured blue) of the bigger wave (3) (coloured green). Yesterday during the Asian and European sessions we could observe a descending movement towards the 0.9556 level (new daily low). Therefore, during the New York session the USD/CHF pair did not manage to hold this level and the price started pushing higher reaching high at 0.9615 level. At the moment this major pair is developing final 5 wave (coloured blue) and we are expecting to see the price around 0.9450 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 (0.9660-0.9538-0.9634), with Take Profit at 0.9457 (161.8% of wave 1). To reduce the risk, we can use resistance point at 0.9560 level as Stop Loss. Also it is necessary to monitor the U.S. Chicago PMI, Revised UoM Consumer Sentiment, Fed Chairman Bernanke Speaks, Factory Orders m/m, Jackson Hole Symposiu data that can change the rate of the pair.
Support and Resistance
(S3) 0.9533 (S2) 0.9556 (S1) 0.9570 (PP) 0.9592 (R1) 0.9615 (R2) 0.9629 (R3) 0.9651
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9550 with Stop Loss 0.9560 and Take Profit 0.9457 are recommended.

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

EUR/USD Wave Analysis for August 31,2012



EUR/USD Elliott Wave
For the last few days the EUR/USD pair was trading in an upward move developing 5 wave (coloured blue) of the bigger corrective (C) wave (coloured green). Yesterday during the early Asian and European sessions we could observe an ascending movement from 1.2523 towards the 1.2564 level. Therefore, during the New York session this major pair did not manage to hold this level and price started pushing lower reaching a new 2 days low at 1.2488 level. At the moment the EUR/USD pair is trading around 1.2565 level and we are expecting to see the price lower today. 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 by measuring wave 1, with Take Profit at 1.1884 (161.8% of wave 1). To reduce the risk, we can use resistance at 1.2690 as Stop Loss. Also it is necessary to monitor the EU German Retail Sales m/m, CPI Flash Estimate y/y, Unemployment Rate and U.S. Chicago PMI, Revised UoM Consumer Sentiment, Fed Chairman Bernanke Speaks, Factory Orders m/m, Jackson Hole Symposium data that can change the rate of the pair.
Alternation: Wave 5 (coloured blue) of the bigger (4) wave (coloured orange) is still in the progress and we can expect to see price around 1.2680 level today.
Support and Resistance
(S3) 1.2442 (S2) 1.2471 (S1) 1.2489 (PP) 1.2518 (R1) 1.2547 (R2) 1.2565 (R3) 1.2594
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2520 with Stop Loss 1.2690 and Take Profit 1.1884 are recommended.

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

GOLD Wave Analysis for September 4 - 2012



GOLD Elliott Wave
For the last few weeks gold was trading in a strong upward move, developing impulsive (3) wave (coloured green) of the bigger (3) wave (coloured orange). Yesterday during the Asian and European session we could observe the price trading in a sideways move developing final 5 wave (coloured blue) of the bigger (3) wave (coloured green). Therefore, during the New York session this commodity started pushing higher and the price reached 1694.35 level. At the moment gold is trading around 1689.40 level and we are expecting to see the price lower today. In accordance with our wave rules and taking into account that the wave 4 retraces 100% of the wave 2, we can define the potential targets with measuring wave 2, with Take Profit at 1663.00 (100% of wave 2). To reduce the risk, we can use resistance at 1696.45 level as Stop Loss.
Support and Resistance
(S3) 1678.1 (S2) 1682.8 (S1) 1688.9 (PP) 1693.6 (R1) 1699.7 (R2) 1704.4 (R3) 1710.5
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1688.60 with Stop Loss 1696.45 and Take Profit at 1663.00 are recommended.

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

AUD/USD Wave Analysis for September 4 - 2012



AUD/USD Elliott Wave
Since our last analysis, the AUD/USD pair was trading in a downward move, like we expected, developing corrective wave (A) (coloured green) of the bigger wave (E) (coloured orange). Yesterday during the early Asian session we could observe a descending movement towards the 1.0240 level. Therefore, during the European and New York sessions the AUD/USD pair continued trading in a bearish mood and the price reached 1.0230 level. At the moment this currency pair is trading around 1.0245 level and we are expecting to see it around 0.9800 level soon. In accordance with our wave rules and taking into account that the wave E retraces 61.8% of the wave C, we can define the potential targets measuring wave C, with Take Profit 1 at 0.9974 (50% of wave C) and Take Profit 2 at 0.9824 (61.8% of wave C). To reduce the risk, we can use resistance at 1.0375 level as Stop Loss. Also it is necessary to monitor the AUD Current Account, Cash Rate, RBA Rate Statement and U.S. Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, Total Vehicle Sales data that can change the rate of the pair.
Support and Resistance
(S3) 1.0192 (S2) 1.0218 (S1) 1.0233 (PP) 1.0259 (R1) 1.0285 (R2) 1.0300 (R3) 1.0326
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0230 with Stop Loss 1.0375 ,Take Profit at 0.9974 and Take Profit 2 at 0.9824 are recommended.

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

GBP/USD Sell Bellow 1.5905 for September 04, 2012 (Daily Strategy)


The pound sterling failed to exceed 1.59 area and had today a negative impact of the construction PMI index which was below 49 points.

This pair will continue demonstrating a strong upward trend, given that it is above the 200 day moving average. It is likely that many currencies are now closing their positions waiting for the meeting of the ECB. The daily close above 1.5900 will initiate an upward sequence until 1.61.

Furthermore, the pair is possible to demonstrate a pullback to 1.59 and then will fail to exceed it. In this case we recommend selling to strong support level 1.5780.


More analysis - at instaforex.com

EUR/NZD - Elliott Wave Analysis for September 6 - 2012



Today's Support and Resistance Levels:

S1: 1.5749 R1: 1.5860

S2: 1.5700 R2: 1.5902

S3: 1.5668 R3: 1.5972



Technical Overview:

The corrections continue to be of sub normal nature. However, that is what we normally expect in an extended third wave. We could have seen green wave iv end at 1.5752 yesterday and green wave v may also be in place with the new high at 1.5902, but it is still a little too early to tell anything for sure. However, if this is the case, we should be looking for blue wave iv correcting towards 1.5752 followed by a new rally to new highs near 1.5974 and maybe even 1.6088 to end blue wave v and red wave iii.

Trading Recommendation:

Buy EUR against NZD close to 1.5752 with a 1.5680 stop and take profit at 1.6085.

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

AUD/CAD Wave Analysis for September 6, 2012



AUD/CAD Elliott Wave
Yesterday the AUD/CAD pair was trading in a upward move developing wave (1) wave (coloured purple) the bigger 1 wave (coloured blue). During the early Asian session we could observe a descending movement towards the 1.0051 level and we can consider this move as the end of the (C) wave (coloured green) of the bigger wave (2) (coloured orange). Therefore, during the European and New York session this currency started pushing higher developing 1 impulsive wave (coloured blue). In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with Fibonacci extension (1.0051-1.0103-1.0076), with Take Profit at 1.0162 (161.8% of wave 1) and Take Profit 2 at 1.0215 (261.8% of wave 1) . To reduce the risk, we can use support at 1.0080 level as Stop Loss. Also it is necessary to monitor the AUD Employment Change and Unemployment Rate data that can change the rate of the pair.
Support and Resistance
(S3) 1.0029 (S2) 1.0050 (S1) 1.0063 (PP) 1.0084 (R1) 1.0105 (R2) 1.0118 (R3) 1.0139
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0130 with Stop Loss 1.0080, Take Profit at 1.0162, and Take Profit 2 at 1.0215 are recommended.

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

EUR/JPY Wave Analysis for September 6, 2012



EUR/JPY Elliott Wave
For the last few weeks the EUR/JPY pair was trading in a sideways move (between 98.00 and 99.00 level), developing corrective (4) wave (coloured purple) of the bigger 3 wave (coloured blue). Yesterday during the Asian and European sessions we could observe a descending movement from 98.58 towards the 97.98 level and we can consider this move as the end of the (4) wave (coloured purple). Therefore, during the early New York session the EUR/JPY pair started pushing higher when the development of the (5) wave started. At the moment this currency is trading around 99.00 level and we are expecting to see the price around 100.200 soon. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with Fibonacci extension (94.13-97.81-95.71), with Take Profit at 100.29 (161.8% of wave 1). To reduce the risk, we can use support at 98.50 level as Stop Loss. Also it is necessary to monitor the EU French 10-y Bond Auction, German Factory Orders m/m, Minimum Bid Rate, ECB Press Conference , ECB President Draghi Speaks and JPY BOJ Gov Shirakawa Speaks data that can change the rate of the pair.
Support and Resistance
(S3) 97.62 (S2) 97.98 (S1) 98.20 (PP) 98.55 (R1) 98.91 (R2) 99.13 (R3) 99.48
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 99.05 with Stop Loss 98.50 and Take Profit at 100.29 are recommended.

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

USD/CAD Wave Analysis for September 7, 2012



USD/CAD Elliott Wave
For the last few days the USD/CAD pair was trading in a sideways move developing triangle (4) wave (coloured orange) of the bigger 3 wave (coloured purple). Yesterday during the early European session we could observe a strong descending movement from 0.9913 towards 0.9872 level. Therefore, during the New York session, the USD/CAD pair continued trading in a bearish mood and the price reached 0.9807 level. Today during the Asian session we could observe one more downward move that brings this major to 0.9804 level and we can consider this move as the end of the (1) wave (coloured green) of the bigger (5) wave (coloured orange). In accordance with our wave rules and taking into account that the wave 2 should retrace 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (0.9917-0.9804), with Take Profit at 0.9874 (61.8% of wave 1). To reduce the risk, we can use the end of the (1) wave as Stop Loss. Also it is necessary to monitor the CAD Building Permits m/m,Employment Change, Unemployment Rate, Labor Productivity q/q, Ivey PMI, BOC Gov Carney Speaks and U.S. Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m data that can change the rate of the pair.
Support and Resistance
(S3) 0.9743 (S2) 0.9784 (S1) 0.9809 (PP) 0.9849 (R1) 0.9890 (R2) 0.9915 (R3) 0.9955
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9830 with Stop Loss 0.9804 and Take Profit at 0.9874 are recommended.

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

GOLD Wave Analysis for September 7, 2012



GOLD Elliott Wave
Since our last analysis gold was trading in an upward move developing last 5 wave (coloured blue) of the bigger wave (3) (coloured green). Yesterday during the Asian and European sessions we could observe an ascending move from 1690.80 towards the 1712.70 level and we can consider this move as the end of the (3) wave (coloured green). Therefore, during the early New York session this commodity started pushing lower and the price reached 1696.45 level when the development of the corrective A wave (coloured blue) started. At the moment gold is trading around 1695.80 level and we are expecting to see the price around 1668.85 soon. In accordance with our wave rules and taking into account that the wave 4 should retrace 100% of the wave 2, we can define the potential targets with measuring 2 wave, with Take Profit at 1668.85 (100% of wave 2). To reduce the risk, we can use invalidation at 1714.10 as Stop Loss level. Also it is necessary to monitor the U.S. Non-Farm Employment Change, Unemployment Rate and Average Hourly Earnings m/m data that can change the rate of the pair.
Support and Resistance
(S3) 1669.3 (S2) 1681.5 (S1) 1692.5 (PP) 1704.7 (R1) 1715.7 (R2) 1727.9 (R3) 1738.9
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1693.60 with Stop Loss 1714.10 and Take Profit at 1668.85 are recommended.

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