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AUD/USD Above 1.0350 Today - Analysis for July 2, 2012

2012-07-02 17:57:18 (читать в оригинале)

AUD/USD Elliott Wave
Last week the AUD/USD pair was trading in an upward move developing wave 1 (coloured blue) of the bigger (3) wave (coloured green). During the Friday European session we could observe strong ascending movement toward the 1.0200 level. Therefore, during the New York session, we could observe continuation of the bullish mood in this currency pair that brougt price to the new 8 weeks high at 1.0265 level. We can consider this move as the end of the impulsive wave 3 (coloured pink) of the bigger wave 1 (coloured blue). Today we could observe pullback toward the 1.0211 level (end of 4 wave) and we are expecting to see the price around 1.0370 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 measuring 1 wave with Take Profit 1 at 1.0335(78.6% of wave 1) and Take Profit 2 at 1.0369 (100% of wave 1). Invalidation point at 1.0211 can be used as a Stop Loss point. Also it is necessary to monitor the U.S. ISM Manufacturing PMI, FOMC Member Williams Speaks data that can change the rate of the pair.
Support and Resistance Levels
(S3) 0.9932 (S2) 1.0024 (S1) 1.0080 (PP) 1.0172 (R1) 1.0264 (R2) 1.0320 (R3) 1.0412
Trading Forecast
Proceeding from Elliott Wave Rules this week, the trend is expected to begin the upward movement. That is why Long positions at level 1.0285 with Stop Loss at 1.0211 Take Profit 1 at 1.0335 and Take Profit 2 at 1.0369 are recommended.

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for July 2, 2012

2012-07-02 15:17:58 (читать в оригинале)

 

During Friday, the GBP/USD pair expressed massive bullish reaction towards the lower limit of the Yellow channel around 1.5490 making a quick bullish movement of about 230 pips reaching the upper limit of the channel around 1.5705 and exceeding the Average Daily Range by about 85 pips.
Because of this strong bullish movement, the Violet channel became steeply bullish. However, today at earlier hours the GBP/USD managed to breakdown the lower limit of this Violet channel which is indicative of a coming bearish retracement.
Bearish retracement is expected to begin at retesting of the Intraday Resistance Level located around 1.5700 which corresponds to the upper limit of the Yellow channel and targets the mid-line of the same channel around 1.5610.
Price Level 1.5610 is expected to act as a strong Intraday Support Level for the GBP/USD pair because it corresponds to the lower limit of the Blue channel & the mid-line of the Yellow one where Price Action should be watched for a possible Buy entry resuming the uptrend initiated last week.

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

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GBP/JPY Weekly Wave Analysis

2012-07-02 15:12:37 (читать в оригинале)

 

GBP/JPY Elliott Wave
Last week the GBP/JPY pair was trading in a downward move developing impulsive 1 wave (coloured green) of the bigger 5 wave (coloured green). During the Friday Asian and early European sessions we could observe ascending movement towards the 124.92 level. We can consider this move as the end of the A wave (coloured blue) of the bigger 2 wave (coloured green). During the second half of the EU session this exotic pair started pushing lower and price reached 123.63 level (end of B wave). Therefore, during the New York session we could observe continuation of the bullish mood with the price reaching 125.42 level. We can consider this move as the end of the C wave of the bigger 2 wave (coloured green). Today the GBP/JPY pair starts trading in a downward move and we can expect to see price under 121.00 level this week. 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 (125.78-122.81-125.43) with Take Profit 1 at 122.58 (100% of wave 1) and Take Profit 2 at 120.79 (161.8% of wave 1). Resistance at 125.75 can be used as a Stop Loss point. Also it is necessary to monitor the UK Manufacturing PMI data that can change the rate of the pair.
Support and Resistance Levels
(S3) 121.81 (S2) 122.88 (S1) 123.54 (PP) 124.60 (R1) 125.67 (R2) 126.33 (R3) 127.39
Trading Forecast
Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why short positions at level 124.00 with Stop Loss at 125.75, Take Profit 1 at 122.58, and Take Profit 2 at 120.79 are recommended.

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

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GBP/JPY Technical Levels and Trading Recommendations for July 2, 2012

2012-07-02 15:00:04 (читать в оригинале)

 

 

Overview

Proceeding from the today's H4 chart, the pair has bounced from the Resistance level 125.30 taking a downward movement, and currently the pair is testing the Support level 124.45. If the pair continues its bearish move and manages to break the Support level and closes 4H below it, this will denote a good opportunity to sell below the Support level 124.45 enabling the Support level 123.75 as a level target, then we should wait for closing 4H below this Support level which will open the way towards the Support area 123.00- 122.60.
On the other hand, if the pair can't break the Support level 124.45 and reverses its bearish move, this will be a strong indicator for the bullish move enabling the Resistance level 125.30 and then 125.65. If the pair manages to close 4H above this Resistance area, it will be a good opportunity to buy and will open the way towards the Resistance level 126.30, then we should wait for closing 4H above this Resistance level to continue the bullish view. Based on the given 4H chart, the technical indicators provide sell-signals, but as long as the Support level 124.45 is unbroken, the upward move is still expected and invalidating the bearish outlook. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support levels

R3(126.30)
R2(125.65)
R1(125.30)
S1(124.45)
S2(123.75)
S3(123.00)

Trading Recommendations

According to previous analysis, we recommend selling in case of breaking the Support level 124.45 and closing 4H below, with TP1 123.80 and TP2 123.10; SL closing 4H above the Support level will be appropriate.

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

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Silver Technical Levels and Trading Recommendatios for July 2 , 2012

2012-07-02 14:54:59 (читать в оригинале)

 

 

Overview
Proceeding from the today's H4 chart, silver has bounced from the meeting point of the upper boundary of the bearish channel and the Resistance level 27.90, taking a downward move and presently trading between the Support level 27.00 and the Resistance level 27.90. If silver continues its bearish move and manages to close 4H below the Support area 27.00-26.70, keeping its move inside the bearish channel, it will be a strong indicator for the bearish move enabling the Support level 26.10 as a level target, and then we should wait for breaking this Support level to continue the downward movement.
On the other hand, if silver reverses its bearish move and is able to break the Resistance level 27.90 and close 4H above, this will be a good opportunity to buy above the Resistance level and enabling the Resistance level 28.30, and then we should wait for breaking this Resistance level to continue the bullish move. In case of closing 4H above this Resistance level, this will denote a bullish strength providing new buy-signals enabling the Resistance level 29.00. Based on the given 4H chart, the technical indicators provide sell-signals, but as long as the Support level 26.70 is unbroken the upward move is still expected and invalidating the bearish outlook. Therefore, we should wait for more confirmations before making the decision.

 

Resistance and Support levels
R3(29.00)
R2(28.30)
R1(27.90)
S1(27.00)
S2(26.70)
S3(26.10)

Trading Recommendations
According to previous analysis, we recommend selling after closing 4H below the Support level 26.70 with TP1 26.00; SL closing 4H above the Support level may be appropriate.

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