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USD/CHF Wave Analysis for July 31, 2012

2012-07-31 12:45:40 (читать в оригинале)

USD/CHF Elliott Wave
Since our last analysis the USD/CHF pair was trading in aт upward move developing corrective wave A (coloured blue) of the bigger wave (2) (coloured green). During the yesterday’s European session we could observe an ascending movement towards the 0.9798 level. Therefore, during the first half of the New York session this major pair continued trading in a bullish mood and price reached 0.9822 level. We can consider this move as the end of the corrective A wave (coloured blue). Yesterday during the second half of the NY session and today in the course of the Asian one the USD/CHF pair retraced to the 0.9771 level (end of the B wave) and we are expecting to see price around 0.9870 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 (09695-0.9822-0.9771) with Take Profit at 0.9870 (100% of wave A). Support at 0.9770 can be used as Stop Loss. Also it is necessary to monitor the U.S. Core PCE Price Index m/m, Employment Cost Index q/q, Personal Spending m/m, S&P/CS Composite-20 HPI y/y, Chicago PMI, CB Consumer Confidence and Treasury Sec Geithner Speaks data that can change the rate of the pair.
Support and Resistance
(S3) 0.9705 (S2) 0.9736 (S1) 0.9755 (PP) 0.9787 (R1) 0.9818 (R2) 0.9837 (R3) 0.9869
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9800 with Stop Loss 0.9770 and Take Profit at 0.9870 are recommended.

The material has been provided by Instaforex Company - instaforex.com

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GOLD Intraday Technical Analysis

2012-07-31 11:51:27 (читать в оригинале)

 

 

Gold is currently testing the intermediate resistance of its medium term bullish channel at 1 633 and seems to initiate a decline. However, a breakthrough these levels will release good potential and reach the upper limit of this one to 1 658.

Technical indicators do not provide clears signals but until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events, the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1 633 with the 1st objective at 1 645 and then at 1 650. A breakthrough 1 630 will invalidate this scenario.

The material has been provided by Instaforex Company - instaforex.com

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EUR/USD Intraday Technical Analysis

2012-07-31 11:50:20 (читать в оригинале)

 

 

The spot rate is approaching the upper limit of its medium term bearish channel at 1.2360 and seems to initiate a decline. However, a break through these levels will release good potential and initiate a violent bullish trend.
Technical indicators provide buy signals but until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short term.
According to previous events, the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.2360 with the 1st objective at 1.2420 and then at 1.2440. A breakthrough 1.2340 will invalidate this scenario.

The material has been provided by Instaforex Company - instaforex.com

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GBP/USD Intraday Technical Analysis

2012-07-31 11:50:10 (читать в оригинале)

 

 

The spot rate is currently testing the upper limit of its medium term trading range at 1.5770 and seems to initiate a decline. However, a break through these levels will release a good potential and initiate a violent bullish trend.
Technical indicators do not provide clears signals but approach an overbuy zone supporting the assumption of a decline. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short term.
According to previous events, the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.5770 with the 1st objective at 1.5830 and then at 1.5850. A breakthrough 1.5750 will invalidate this scenario.

The material has been provided by Instaforex Company - instaforex.com

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EUR/JPY Intraday Technical Analysis

2012-07-31 11:50:00 (читать в оригинале)

 

 

The spot rate is approaching the upper limit of its medium term bearish channel at 96.80 and seems to initiate a decline. However, a break through these levels will release good potential and initiate a violent bullish trend.
Technical indicators provide buy signals but until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short term.
According to previous events, the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 96.80 with the 1st objective at 97.40 and then at 97.60. A breakthrough 96.60 will invalidate this scenario.

The material has been provided by Instaforex Company - instaforex.com