Thread: InstaForex Wave Analysis

GBP/JPY Elliott wave count and Fibonacci levels for February 8, 2011

GBP/JPY is now developing impulse subwave C (colored royal blue in the chart) that is part of impulse wave A of a larger degree (colored royal blue in the chart). The impulse started from 119.53. Within the former subwave there are also waves of a still smaller degree - they are A, B and C (colored magenta in the chart), and subwave C is still developing from 120.16. This wave has its waves of a smaller degree - A, B, and C that is still developing from 121.85 (colored orange red in the chart).

Now the targets of the upmove are Fibonacci retracements of 127.25-117.22, and expansions off 117.22-121.98-119.53, 119.53-121.16-120.42, 120.42-122.18-121.85.

Resistances:

- 122.94 = contracted objective point (COP)
- 123.06 = expanded objective point (XOP)
- 123.42 = .618 retracement
- 123.61 = objective point (OP)

However, if the price reverses to the downside the immediate supports will be Fibonacci retracements of the wave up from 120.42 - this wave is not developed yet, so no supports are available so far.

Overbought/Oversold

The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator goes below the zero level (30-40 pips below the current prices) or into the oversold area (50-60 pips below the current prices).

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-201225
More analysis - at instaforex.com

Fundamental Analysis, February, 10 / 2012




Everything happened in the last 24 hours in Europe, although its purpose if it is not announced, the less predictable: the rescue of Greece was delayed further by the European Union.

Such is the lack of political will, lack of leadership and the inability of all stakeholders, that is noticeable from a distance and in advance that things go wrong.

If everything was agreed on Monday, why everything was postponed two days? If sending money as part of bailout plan depended on the adoption by Greece of the measures of "austerity" and other euphemisms, and this actually happened, what is the problem now?

The answer is simple: Greece makes no warranty of any kind, which to date has not yet taken the debt at a very low cost, and the rest of Europe knows, and mistrust of a debtor who has always failed their commitments.

In addition, the Union appears to act for public order problems, not solve, to take the moral high ground and almost extortion, raising the conditions imposed whenever the above are met .

The answer is simple: Greece makes no warranties of any kind-which until now did not yet taken the debt to a very low cost, and the rest of Europe knows it, and distrust of a debtor who has always failed their commitments.

Moreover, the Union appears to act for the public and not to solve problems, to take the moral high ground and almost extortion, raising the conditions imposed whenever the above are met.

To keep this state of affairs, it is likely that Europe will eventually send 14,400 million euros Greece needs it or do pay next month to avoid falling into default, and this game will continue indefinitely until the Greeks give up. That's the next step in sight.

Markets accounted for a further disappointment on this issue, and Friday's European session presents sharp drops in all major markets, while the euro fell as far away from 1.3320, the highest on Thursday and in recent weeks.

Yield also, albeit much weaker, pound sterling, whose medium-term uptrend has been breached, but without further confirmation to the breakdown of it, and the Australian dollar and Canadian.

The feeling is that it will generate a further fall in all leading currencies against the dollar, and that this will take hold, to varying degrees, but with special emphasis to the euro and the currencies linked to gold and oil.

The day's news agenda includes trade balance figures in Canada and the United States, both at 8:30 Eastern, and the consumer confidence index from the University of Michigan / Reuters


Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

More analysis - at instaforex.com

AUD/USD Elliott wave count and Fibonacci levels for February 13, 2011

AUD/USD is developing impulse wave 5 of medium term uptrend (colored royal blue in the chart) from 1.0525, that is part of wave A of a larger degree from 1.0145 (colored light green in the chart). Now this wave has subwaves A and B, with subwave B still developing from 1.0844 (colored magenta in the chart). Within the latter there are A and B subwaves (colored red in the chart) with subwave B still developing from 1.0639.

The targets below are Fibonacci retracements of 1.0145-1.0844.

Supports:

- 1.0577 = .382 retracement
- 1.0495 = .50 ret
- 1.0412 = .618 ret

If the price keeps moving up, the immediate resistances will be Fibonacci expansions off 1.0231-1.0687-1.0525, 1.0525-1.0844-1.0639.

Resistances:

- 1.0836 = contracted objective point (COP)
- 1.0958 = objective point (OP)
- 1.0981 = OP

Overbought/Oversold

The larger wave is now moving up, so it's prefereable to open long positions when the Detrended Oscillator goes below the zero level (25-30 pips below the current prices) or into the oversold area (45-60 pips below the current prices), watch for possibilities of going long at or near the indicated supports.
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

GBP/JPY Elliott wave count and Fibonacci levels for February 13, 2011

GBP/JPY is developing impulse subwave C (colored royal blue in the chart) that is part of impulse wave A of a larger degree (colored light green in the chart) from 117.22. Within the former subwave there are also waves of a still smaller degree - they are A, B, and C (colored magenta in the chart), and subwave C is still developing from 121.34. Subwave C was confirmed when the price broke above 122.79 (top of subwave A).

Now the targets of the upmove are Fibonacci retracements of 127.25-117.22, and expansions off 117.22-121.98-119.53, 119.53-122.79-121.34, 121.34-123.11-121.98.

Resistances:

- 123.07 = contracted objective point (COP)
- 123.35-42 = confluence area of COP and .618 retracement
- 123.75 = objective point (OP)
- 124.29 = OP

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 119.53-123.11.

Supports:

- 121.74 = .382 retracement
- 121.32 = .50 ret
- 120.90 = .618 ret

Overbought/Oversold

The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (25-35 pips below the current prices).

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

AUD/USD Elliott wave count and Fibonacci levels for February 14, 2011

AUD/USD is moving wihtin impulse wave 5 of medium term uptrend (colored royal blue in the chart) that started from 1.0525, this wave is part of wave A of a larger degree from 1.0145 (colored light green in the chart). Now the former wave has subwaves A, and B, with subwave B still developing from 1.0777 (colored magenta in the chart). Within the latter there are A, B, and C subwaves (colored red in the chart) with subwave C still developing from 1.0777.

The targets below are Fibonacci retracements of 1.0145-1.0844, and expansions off 1.0844-1.0639-1.0777.

Supports:

- 1.0650 = contracted objective point (COP)
- 1.0577-72 = confluence area of .382 retracement and objective point (OP)
- 1.0495 = .50 ret
- 1.0445 = expanded objective point (XOP)
- 1.0412 = .618 ret

If the price keeps moving up, the immediate resistances will be Fibonacci expansions off 1.0231-1.0687-1.0525, 1.0525-1.0844-1.0639.

Resistances:

- 1.0836 = contracted objective point (COP)
- 1.0958 = objective point (OP)
- 1.0981 = OP

Overbought/Oversold

The larger wave is now moving up, so it's prefereable to open long positions when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (20-35 pips below the current prices), watch for possibilities of going long at or near the indicated supports.

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

GBP/JPY Elliott wave count and Fibonacci levels for February 14, 2011

GBP/JPY is developing impulse subwave C (colored royal blue in the chart) that is part of impulse wave A of a larger degree (colored light green in the chart) from 117.22. Within the former subwave there are also waves of a still smaller degree - they are A, B, and C (colored magenta in the chart), and subwave C is still developing from 121.34. Subwave C was confirmed when the price broke above 122.79 (top of subwave A). However it will be over if the price breaks below 121.34.

Now the targets of the upmove are Fibonacci retracements of 127.25-117.22, and expansions off 117.22-121.98-119.53, 119.53-122.79-121.34, 121.34-123.11-121.62.

Resistances:

- 122.71 = contracted objective point (COP)
- 123.35-39-42 = confluence area of COP, objective point (OP), and .618 retracement
- 123.75 = OP
- 124.29 = OP

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 119.53-123.11, and expansions off 123.11-121.98-122.86.

Supports:

- 121.32 = .50 ret
- 121.03 = expanded objective point (XOP)
- 120.90 = .618 ret

Overbought/Oversold

The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator goes below the zero level (30-35 pips below the current prices) or into the oversold area (60-75 pips below the current prices).

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

AUD/USD Elliott wave count and Fibonacci levels for February 15, 2011

AUD/USD is still developing impulse wave 5 of medium term uptrend (colored royal blue in the chart) that started from 1.0525, this wave is part of wave A of a larger degree from 1.0145 (colored light green in the chart). Now the former wave has subwaves A, B, and C, with potential subwave C still developing from 1.0628 (colored magenta in the chart).

The targets of the upmove are Fibonacci retracements of 1.0844-1.0628, and expansions off 1.0231-1.0687-1.0525, 1.0525-1.0844-1.0629.

Resistances:

- 1.0761 = .618 retracement
- 1.0825 = contracted objective point (COP)
- 1.0947 = objective point (OP)
- 1.0981 = OP

If the price reverses to the downside the targets below will be Fibonacci retracements of 1.0145-1.0844.

Supports:

- 1.0577 = .382 retracement
- 1.0495 = .50 ret
- 1.0412 = .618 ret

Overbought/Oversold

The larger wave is now moving up, so it's prefereable to open long positions when the Detrended Oscillator goes below the zero level (40-45 pips below the current prices) or into the oversold area (70-85 pips below the current prices), watch for possibilities of going long at or near the indicated supports.

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

GBP/JPY Elliott wave count and Fibonacci levels for February 15, 2011

GBP/JPY is developing impulse subwave C (colored royal blue in the chart) that is part of impulse wave A of a larger degree (colored light green in the chart) from 117.22. Within the former subwave there are also waves of a still smaller degree - they are A, B, and C (colored magenta in the chart), and subwave C is still developing from 121.62.

Now the targets of the upmove are Fibonacci retracements of 127.25-117.22, and expansions off 117.22-121.98-119.53, 119.53-123.11-121.62, 121.62-123.00-122.45.

Resistances:

- 123.42 = .618 retracement
- 123.83 = confluence area of contracted objective point (COP) and objective point (OP)
- 124.29 = OP
- 124.68 = expanded objective point (XOP)

If the price reverses to the downside the immediate supports will be Fibonacci retracements of the wave up from 121.62 - this wave is not developed yet, so no supports are available so far.

Overbought/Oversold

The bigger wave is now moving up, so it's preferable to try long positions when the Detrended Oscillator goes below the zero level (10-15 pips below the current prices) or into the oversold area (40-55 pips below the current prices).
Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2012
More analysis - at instaforex.com

USD/CAD Elliott wave count for February 16, 2012


Market Overview
The USD/CAD pair was trading in a upward move yesterday, in a early European session this major pair tested 50 EMA 2 time before a price broke above the 200 EMA resistance line.Today in a Asian session price continued in a bullish mood and price reached a new high at the 1.0030 level, in a European session price continued to push reaching the 1.0050 level.We are expecting to see breaking to the 0.9954 level today.We need to take a look at USA Building Permits, PPI m/m,Unemployment Claims,Philly Fed Manufacturing Index that could affect this pair

Support and Resistance levels
(S3) 0.9914 (S2) 0.9939 (S1) 0.9954 (PP) 0.9979 (R1) 1.0004 (R2) 1.0019 (R3) 1.0044

USD/CAD Elliott Wave Analysis
The USD/CAD pair finished (1) wave of the bigger iii wave at 1.0051 today, and started 3 corrective waves in (2) wave.According to our wave rules and taking into consideration that wave (2) will retrace 61.8% or 78.6% of wave (1) we can project our targets with Fibonacci retracement(1.0051-0.9937) to first take profit level at 0.9981(61.8% of wave (1)) and second take profit at 0.9962(78.6% of wave (1).For stop loss we can use end of wave i at 1.0051.

Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why Short position at levels 1.0020 with Stop Loss at 1.0051, Take Profit at 0.9981 and Take Profit 2 at 0.9962 are recommended

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

GBP/JPY Elliott wave count and Fibonacci levels for February 16, 2011

GBP/JPY is developing impulse subwave C (colored royal blue in the chart) that is part of impulse wave A of a larger degree (colored light green in the chart) from 117.22. Within the former subwave there are also waves of a still smaller degree - they are A, B, and C (colored magenta in the chart), and subwave C is still developing from 121.62. Within C we have A, and B subwaves (colored red in the chart), with subwave B still developing from 123.44.

Now the targets of the upmove are Fibonacci retracements of 127.25-117.22, and expansions off 117.22-121.98-119.53, 119.53-123.11-121.62, 121.62-123.44-122.55.

Resistances:

- 123.42 = .618 retracement
- 123.67 = contracted objective point (COP)
- 123.83 = COP
- 124.29 = objective point (OP)
- 124.37 = OP

If the price keeps falling the immediate supports will be Fibonacci retracements of 121.62-123.44, 119.53-123.44, and expansions off 123.44-122.55-123.12.

Supports:

- 122.57-53 = confluence area of COP and .50 retracement
- 122.32-23 = confluence area of .618 ret and OP
- 121.95 = .382 ret
- 121.68 = expanded objective point (XOP)
- 121.49 = .50 ret



Overbought/Oversold

The bigger wave is now moving up, so it's preferable to try long positions when the Detrended Oscillator goes below the zero level (10-15 pips below the current prices) or into the oversold area (40-55 pips below the current prices). Watch for opportunities to go long at or near the indicated supports.

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