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USD/CAD Pushing Lower Today - Analysis for June 29, 2012

2012-06-29 12:04:19 (читать в оригинале)

 

USD/CAD Elliott Wave
The USD/CAD pair was trading in an upward move on Thursday developing impulsive wave 1 (colored blue). During both the Asian and the European sessions we could observe strong ascending movement in this major pair that brings price to the new 3 weeks high at 1.0037 level. Therefore during the New York session the USD/CAD pair continued trading in a bullish mood and price reached 1.0361 level. We can consider this level as end of the 1 wave (coloured blue). At the moment we can observe the start of the 2 wave (coloured blue) and we are expecting to see price around 1.0280 level today. In accordance with our wave rules and taking into account that the wave 2 retraces minimum 50% of the wave 1, we can define the potential targets with Fibonacci retracement (1.0231-1.0361) with Take Profit 1 at 1.0296 (50% of wave 1) and Take Profit 2 at 1.0281 (61.8% of wave 1). Yesterday’s high at 1.0361 can be used as a Stop Loss point. Also it is necessary to monitor the CAD GDP m/m, RMPI m/m, IPPI m/m and U.S. Core PCE Price Index m/m, Personal Spending m/m, Chicago PMI, Revised UoM Consumer Sentiment data that can change the rate of the pair.
Support and Resistance Levels
(S3) 1.0178 (S2) 1.0228 (S1) 1.0258 (PP) 1.0308 (R1) 1.0358 (R2) 1.0388 (R3) 1.0438
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 1.0325 with Stop Loss at 1.0361 Take Profit 1 at 1.0296 and Take Profit 2 at 1.0281 are recommended.

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

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USD/CHF Above 0.9800 Today - Analysis for June 29, 2012

2012-06-29 12:00:51 (читать в оригинале)

 

USD/CHF Elliott Wave
For the last 2 weeks the USD/CHF pair was trading in an upward move developing 5 wave (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the Asian session we could observe descending movement toward the 0.9590 level where this major pair found support and price started pushing higher. Therefore, during the European and the New York sessions USD/CHF continued trading in a bullish mood and price reached 0.9680 level. Presently we can observe developing of the 5 wave (coloured blue) and we can expect to see price around 0.9800 soon. In accordance with our wave rules and taking into account that the wave 5 retraces 161.8% of the wave 1, we can define the potential targets with measuring the first wave with Take Profit at 0.9823 (161% of wave 1). Support at 0.9600 can be used as a Stop Loss point. Also it is necessary to monitor the CU.S. Core PCE Price Index m/m, Personal Spending m/m, Chicago PMI, Revised UoM Consumer Sentiment and Swiss KOF Economic Barometer data that can change the rate of the pair.
Support and Resistance Levels
(S3) 0.9552 (S2) 0.9585 (S1) 0.9606 (PP) 0.9640 (R1) 0.9673 (R2) 0.9694 (R3) 0.9728
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 0.9680 with Stop Loss at 0.9600 and Take Profit at 0.982 are recommended.

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

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GBP/USD Intraday Technical Analysis

2012-06-29 09:24:36 (читать в оригинале)

 

The spot rate is currently testing the upper limit of its medium term bearish channel at 1.5650 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 approching 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 1.5650 with the 1st objective at 1.5710 and then at 1.5730. A break through 1.5630 will invalidate this scenario.

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

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GOLD Intraday Technical Analysis

2012-06-29 09:24:16 (читать в оригинале)

 

Gold is approching to the intermediate resistance of its medium term bullish channel at 1,591 and seems to initiate a decline. However, a break through these levels will release good potential and reach the upper limit of this one to 1,643.

Technical indicators provide buy-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 1,591 with the 1st objective at 1,605 and then at 1,610. A break through 1,588 will invalidate this scenario.

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

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EUR/JPY Intraday Technical Analysis

2012-06-29 09:23:55 (читать в оригинале)

 

The spot rate is currently testing the upper limit of its medium term bearish channel at 100.20 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 sell-signals and 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 100.20 with the 1st objective at 100.80 and then at 101.00. A break through 100.00 will invalidate this scenario.

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