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USD/CHF Wave Analysis July 24, 2012

2012-07-24 13:13:53 (читать в оригинале)

USD/CHF Elliott Wave
For the last few days the USD/CHF pair was trading in an upward move developing impulsive (5) wave (coloured green) of the bigger wave (5) (coloured orange). Yesterday during the Asian and European sessions we could observe an ascending movement towards the 0.9945 level and we can consider this move as the end of the 3 impulsive wave (coloured blue). Therefore, during the New York session the USD/CHF did not manage to hold this level and the price reached 0.9888 level (end of 4 wave). Today this major pair started pushing higher, the price is currently trading around 0.9915 level and we are expecting to see it around 0.9969 today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 0.9963 (100% of wave 1). Support at 0.9900 point can be used as Stop Loss. Also it is necessary to monitor the U.S. Fed Chairman Bernanke Speaks, Flash Manufacturing PMI data that can change the rate of the pair.
Support and Resistance
(S3) 0.9853 (S2) 0.9877 (S1) 0.9892 (PP) 0.9916 (R1) 0.9940 (R2) 0.9955 (R3) 0.9979
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9920 with Stop Loss 0.9900 and Take Profit at 0.9963 are recommended.

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

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GBP/USD: Intraday Technical Analysis for July 24, 2012

2012-07-24 13:11:34 (читать в оригинале)

 

Weekly Pivot Point: 1.5624.

 

 

Sideways Trend: prices are moving within a narrow range between 1.5500 and 1.5480.
GBP/USD "Pound-Dollar":
• Resistance: 1.5523 (Sell below this level).
• Support: 1.5400 (Buy above this level).

Trading Recommendations:

According to the previous events, the price is still between the levels of 1.5500 and 1.5480.

 

• The descending movement will probably be lower than 1.5523 level with the first targets at 1.5450 and 1.5403 levels.
• BUY deals are recommended above the 1.54 level with targets at 1.5473 and 1.5520 levels.

Overview:

It should be noticed that the market showed the signs of instability. The trend movement was controversial as it took place in narrow sideways channel. Due to the previous events, the price is still between the levels of 1.5500 and 1.5480, so it is recommended to be careful while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then the market will probably indicate the signs of a bullish trend. In other words, buy deals are recommended above 1.5400 level with its first target at the level of 1.5453. From this point, the pair is likely to begin an ascending movement to the point of 1.5483 and further to the level of 1.5520. However, if the pair fails to pass through the level of 1.5523, the market will indicate a bearish opportunity below the strong resistance level of 1.5523. In this regard, sell deals are recommended lower than the 1.5530 level with the first target at 1.5550. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.5403.

 

 

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com .

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

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EUR/USD Wave Analysis July 24, 2012

2012-07-24 12:37:40 (читать в оригинале)

EUR/USD Elliott Wave
Since our Last analysis the EUR/USD pair was trading in an upward move developing corrective wave 4 (coloured blue) of the bigger (5) wave (coloured green). During the early European session we could observe a descending movement towards the 1.2070 level and we can consider this move as the end of the impulsive 3 wave (coloured blue). Therefore, during the New York session this major pair started pushing higher and price filled Monday gap at 1.2148 level and we can regard this move as the end of the 4 wave (coloured blue). Today the EUR/USD pair started pushing lower developing final 5 wave (coloured blue) of the bigger (5) wave (coloured green). In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 1.1983 (100% of wave 1). Resistance at 1.2150 point can be used as Stop Loss. Also it is necessary to monitor the EU German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI, BBA Mortgage Approvals and U.S. Fed Chairman Bernanke Speaks, Flash Manufacturing PMI data that can change the rate of the pair.
Support and Resistance
(S3) 1.2032 (S2) 1.2061 (S1) 1.2080 (PP) 1.2109 (R1) 1.2138 (R2) 1.2157 (R3) 1.2186
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2100 with Stop Loss 1.2150 and Take Profit at 1.1983 are recommended

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

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NZD/USD: Intraday Technical Analysis for July 24, 2012

2012-07-24 12:35:32 (читать в оригинале)

 

 

 

• Strong Resistance: 0.8000.
• Strong Support: 0.7860.

Overview:
The NZD/USD pair is expected to continue the movement from the point of 0.7865 (0.7860: 00% of Fibonacci retracement levels on the H1 chart). Thus, kiwi shows the signs of strength, following the breakdown of the highest level 0.7960. This fact can be considered as a good signal for BUY deals above the point 00% of Fibonacci retracement levels on the H1 chart or at the level (0.7860) with the first targets 0.7929 and 0.8000 (it will act as a strong resistance level and is considered to be appropriate for Take Profit orders). It is necessary to mention that this level will coincide between 61.8% of Fibonacci retracement (0.7980) and 78% of Fibonacci retracement (0.8011) However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level 0.8000, the market will show a further decline to the 0.7930 level indicating a bearish mood in order to retest the weekly support 1 at 0.7929.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

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

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EUR/NZD - Elliott Wave Analysis for July 24 - 2012

2012-07-24 11:08:54 (читать в оригинале)

 

 

 

Today's Support and Resistance Levels:

Support Resistance
S1: 1.5265 R1: 1.5339
S2: 1.5233 R2: 1.5398
S3: 1.5209 R3: 1.5450

Technical Overview:
We saw the expected rally from the 1.5131 low taking out minor resistance at 1.5293 for a move towards 1.5398. Thereby, we got the first indication that an important low is in place at 1.5131.
In short term we are looking for a minor correction from 1.5398, which will most likely end in the 1.5233 - 1.5265 area for the next move higher towards 1.5450 and likely even towards resistance at 1.5698. If minor wave ii extends beyond 1.5698, the next target will be near 1.5801.
There is a risk in short term that the correction from 1.5398 becomes a shallow, but more complex and will drag on for 5 - 8 days before the rally from 1.5131 continues.

Trading Recommendation:
You should be long EUR against NZD from 1.5250 or from 1.5295 with a stop at 1.5125. If you are not long EUR yet buy at 1.5265 or wait for a break above 1.5398 with the same stop at 1.5125.

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