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USD/CAD Elliott Wave Count for May 25, 2012

2012-05-25 15:30:03 (читать в оригинале)

USD/CAD Elliott Wave
Yesterday the USD/CAD pair was trading in a upward move. During the European session we could observe ascending move toward the 1.0282 level (new daily high). Therefore during the early New York session price pushed lower and reached new daily low at the 1.0225 level. We can consider this move as end of the 4 wave (coloured pink) of the bigger 5 wave (coloured blue). During the second half of the NY session price started pushing higher reaching a new daily high at the 1.0294 level. Today during the Asian session price started lower and the USD/CAD pair is currently trading around 1.0255. 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 1 wave with Take Profit 1 at 1.0306(161.8% of wave 1) and Take Profit 2 at 1.0342 (200% of wave 1). We can use 1.0225 as stop loss point. Also it is necessary to consider the data concerning the U.S. Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0191 (S2) 1.0217 (S1) 1.0234 (PP) 1.0261 (R1) 1.0287 (R2) 1.0304 (R3) 1.0331

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 1.0275 with Stop Loss at 1.225, Take Profit 1 at 1.0306 and Take Profit 2 at 1.0342 are recommended.

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

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GBP/JPY Elliott Wave Count for May 25, 2012

2012-05-25 15:28:01 (читать в оригинале)

GBP/JPY Elliott Wave
The GBP/JPY pair was trading in a sideways move yesterday developing C wave (coloured green). During the early European session we could observe descending movement towards 124.07 level. We can consider this move as end of 5 wave of the bigger C wave (coloured green). Therefore during the New York we could observe start of the bullish mood for the 1 wave development and price reached 124.90. Today during the Asian session the market is still in a sideways move and if price broke 125.00 we would have confirmation that our count is right. In accordance with our wave rules we can place Take Profit for the 1 wave (coloured green) at 128.00, for stop loss we can use 124.05. Also it is necessary to consider the data concerning the JPY Tokyo Core CPI y/y, National Core CPI y/y and EU GfK German Consumer Climate, Italian Retail Sales m/m that can affect the rate of the pair.

Support and Resistance levels
(S3) 123.78 (S2) 124.09 (S1) 124.29 (PP) 124.60 (R1) 124.91 (R2) 125.11 (R3) 125.42

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 125.00 with Stop Loss at 124.05 and Take Profit at 128.00 are recommended.

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

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EUR/JPY Intraday Technical Analysis

2012-05-25 11:56:43 (читать в оригинале)

 

The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 100.10 and seems to initiate a decline. However, a break through these levels will release good potential and will be able to reach the upper limit of this one to 101.20.

Technical indicators do not provide clear 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 spot rate has broken through its resistance of 100.10 with the 1st objective at 100.70 and then at 100.90. A break through 99.90 will invalidate this scenario.

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

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GOLD Intraday Technical Analysis

2012-05-25 11:40:24 (читать в оригинале)

 

Gold is currently testing the intermediate resistance of its medium term bearish channel at 1,580 and seems to initiate a decline. However, a break through these levels will release good potential and will be able to reach the upper limit of this one to 1,620.

Technical indicators provide buy-signals but 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 decline these days. Stabilization is expected in a short term.

According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1,580 with the 1st objective at 1,590 and then at 1,595. A break through 1,577 will invalidate this scenario.

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

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GBP/USD Intraday Technical Analysis

2012-05-25 11:39:40 (читать в оригинале)

 

The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.5630 and seems to initiate a rebound. However, a break through this level will trigger a decline to the lower limit – 1.5570.

Technical indicators do not provide clear signals but until the support is not broken the assumption of a rebound 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 at the level of 1.5630 with the 1st objective at 1.5690 and then at 1.5720. A break through 1.5610 will alter this scenario.

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