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EUR/NZD - Elliott Wave Analysis for July 20 - 2012

2012-07-20 13:34:41 (читать в оригинале)

 

 

 

Today's Support and Resistance Levels:
Support                         Resistance
1: 1.5205                       1: 1.5205
2: 1.5451                       2: 1.5155
3: 1.5505                       3: 1.5100

Technical Overview:
We have now entered the ideal target area between 1.5205 - 1.5245 (the low has been 1.5208). It has as always been very difficult to pin-point the exact bottom, but we should be very close if it is not already in place with the 1.5208 low. To confirm the bottom, we need a break above resistance at 1.5451 and more importantly resistance at 1.5505, which will also confirm a rally higher towards at least the 1.5808 - 1.5885 area.
However, for now we will try to fine-tune the bottom. The short term risk is that resistance at 1.5356 protects the upside and turn us down again for one last low in the 1.5130 - 1.5150 area before the bottom is finally in place.

Trading Recommendation:
Our 1.5300 stop was taken out yesterday, but we re-bought EUR against NZD at 1.5250 and will place stop at 1.5095.

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

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EUR/JPY - Elliott Wave Analysis for July 20 - 2012

2012-07-20 13:31:49 (читать в оригинале)

 

 

 

Today's Support and Resistance Levels:

Support                          Resistance
1: 96.14                        1: 96.85
2: 95.57                         2: 97.30
3: 94.58                         3: 97.85

Technical Overview:
The break below the minor support at 96.37 demonstrates that the final wave v is going down towards the ideal target near 94.58. Looking at the waves from the wave 4 high at 101.62 we can see:
Wave i went down from 101.62 to 98.71
Wave ii went up from 98.71 to 101.39 (an expanded flat correction)
Wave iii went down from 101.39 to 96.40
Wave iv went up from 96.40 to 97.37 (a very shallow and flat correction) finally
Wave v is expected to decline into an ideal target area between 94.10 - 94.58 marking an important low for the entire decline since the 111.43 high.

Trading Recommendation:
We have been looking for a EUR selling opportunity near 97.90 which did not occur and we will now look for a new opportunity. Sell EUR against JPY at 96.75 or at 96.10 (one cancels the other) with a 97.40 stop. Take profit at 94.70.

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

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Silver Remains Well Offered Around 27.80 Levels

2012-07-20 11:25:03 (читать в оригинале)

 

 

Technical Outlook and Charts Setups:
The chart above shows that silver also remains locked in the cone structure. Believe it or not, the break out (which ever direction) is going to be very powerful. Looking into the euro and gold vulnerability on charts, a break down can be quite possible within silver as well. Above 28.00 would be bullish for the metal while a break below 26.50 would invite to fresh lows.
Trading Recommendations:
Remain short aggressively with stop above 28.00 or trade in the direction of cone breakout.

Good Luck!

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

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Gold Continues To Remain Sideways Choppy Before Breakdown..

2012-07-20 11:21:45 (читать в оригинале)

 

Technical Outlook and Chart Setups:
As it is depicted above, the yellow metal remains locked in a decreasing resistance/ increasing support type cone structure. If we study the wave counts after the highs registered at 1640.00 levels, we are in the 5th wave now which should break down to lower levels. Until 1620/25 levels are not breached, expect gold to breakdown. We recommend to go short on any intraday rallies towards 1580/90 levels.
Trading Recommendations:
Remain short, stop at 1620/25, and target fresh lows.

Good Luck!

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

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GbpChf Hits 1.5400. Flat for Now.

2012-07-20 11:18:53 (читать в оригинале)

 

 

Technical Outlook and Chart Setups:
The structure above did not change much. The single currency has reached its measured second target above 1.54 yesterday. It is now recommended to stay aside for a while before taking a call. Usually when Fibonacci is met upside target, it is a natural resistance and the prices begin to retrace. We shall watch the currency pair on small timeframes now for signs of reversal.
Trading Recommendations:
Profit booked at 1.5400. Flat for now.

Good Luck!

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