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USD/JPY Wave Analysis for June 7, 2012

2012-06-07 11:40:00 (читать в оригинале)

 

Wave marking analysis:
Having overcome the point 78.90, in the course of yesterday’s trades the USD/JPY pair tested the corrective level of 61.8% (79.20). Therefore, it seem like the announcement Japan’s Finance Minister on yen intervention had the proper effect enabling the pair to form the 5-wave structure on the ascending part of the trend beginning from the low of June 1 (77.65). At the same time the option with resumption of the downside movement from the last day’s high towards the 76.50 level is still relevant.

 

Targets for the option with the continuation of the downward trend within the wave 5 in C:
77.67 – 161.8% of Fibonacci

Targets for the option with the wave 4 in C or beginning of the new ascending part of the trend:
79.19 – 61.8% of Fibonacci
79.56 – 76.4% of Fibonacci

General conclusions and trading recommendations:
At the moment the new downward part of the trend continues its formation, supposedly within the wave 4 in C. If that proves to be so, then the wave C has a quite complicated wave structure that can be complicated even more. In general in coming days the pair is likely to reach 79.19 and 79.56 which is equal to 61.8% и 76.4% of Fibonacci.
The situation with this pair is rather controversial than clear and requires clarifications. Having left yesterday the descending channel, the pair may continue the descending movement on the smaller level within the wave 5.

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

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EUR/JPY Intraday Technical Analysis

2012-06-07 11:24:55 (читать в оригинале)

 

The spot rate is presently testing the upper limit of its medium term bearish channel at 99.90 and is expected to decline. However, a breakdown of these levels will reveal significant potential and initiate a violent bullish trend.

Technical indicators provide sellers signals and as long as the resistance is unbroken, the assumption of a decline is relevant. Bollinger bands are much discarded due to the strong recent increase. The situation is expected to stabilize in the nearest future. 

According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 99.90 with 100.50 and 100.70 seen as first targets. In case te level 99.70 is passed though, the prospect scenario will be cancelled.

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

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GOLD Intraday Technical Analysis

2012-06-07 11:22:14 (читать в оригинале)

 

At the moment the gold is testing the upper limit of its medium term bearish channel at 1,635 and is about to decline. However, a breakdown of these levels will reveal significant potential and initiate a violent bullish trend.

Technical indicators provide buyers signals but as long as the resistance is unbroken, the assumption of a decline is relevant. Bollinger bands are much discarded due to the strong recent increase. The situation is expected to stabilize soon.  

According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1,635 with the 1st targets seen at 1,645 and at 1,650. If the level 1,632 is passed through, the proposed scenario will be cancelled.

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

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GBP/USD Intraday Technical Analysis

2012-06-07 11:19:46 (читать в оригинале)

 

The spot rate has broken the intermediate resistance of its medium term bearish channel at 1.5430 resulting in acceleration. A pull back on these levels is expected before the upper limit of its channel in 1.5580 is reached.

Technical indicators provide sellers signals supporting the assumption of a pull back. Bollinger bands are much discarded due to the strong increase that took place these days. The situation is expected to stabilize in the nearest future.

According to previous events the market will provide a bullish opportunity at the level of 1.5430 with the 1st objectives seen at 1.5490 and 1.5520. A breakdown of 1.5410 will reverse this scenario.

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

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EUR/USD Intraday Technical Analysis

2012-06-07 11:17:47 (читать в оригинале)

 

The spot rate broke the intermediate resistance of its medium term  bearish channel at 1.2520 leading to an acceleration. A pull back on these levels is expected  before the price reaches the upper limit of its channel in 1.2690.

Technical indicators provide sellers signals confirming the assumption of a pull back. Bollinger bands are much discarded due to the strong recent increase. The situatation is expected to stabilize soon.  

According to previous events the market will provide a bullish opportunity at the level of 1.2520 with 1.2580 and 1.2600 seen as first targets. In case the level 1.2500 is passed through, the proposed scenario will be altered.

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