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EUR/USD Wave Analysis for May 1, 2012

2012-05-01 11:33:40 (читать в оригинале)

 

Wave marking analysis:
Due to the yesterday’s weak trades the EUR/USD pair has failed to define its further movement. As a result the pair remained within the range of 1.3200 – 1.3260 for the whole day. Considering the corrective scenario the current wave structure still allows the euro to reach the target levels located in the area of 1.3300-1.3345. At the same time the wave E of the current upward correction looks as the complex one confirming the assumption that yesterday’s decline of quotes will continue towards the April’s low (1.3000).

 

Targets for resumption of the descending part of the trend within the wave 3 or C:
1.3087 – 23.6% of Fibonacci
1.3039 – 11.4% of Fibonacci

Targets for the wave E in 2 or B (complication of the corrective part of the trend):
1.3295 – 76.4% of Fibonacci
1.3343 – 88.6% of Fibonacci

General conclusions and trading recommendations:
The recent growth of quotes can be considered as a quite complicated wave 2 or B. The present ascending movement within the wave E has targets 1.3295 and 1.3343 corresponding to 76.4% and 88.6% of Fibonacci respectively. MACD divergence points at possible reversal of quotes for the benefit of the dollar in the nearest future as the wave 2 or B are nearly finished. Nevertheless. The correction is getting more and more complicated every day. This fact can result in transformation of the whole structure into impulse one and therefore, the whole wave marking will need corrections. If the current marking is true, the wave 3 or C with targets seen at 1.3087 and 1.3039 will begin its formation almost from the present points.

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

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Intraday Opportunities for Caterpillar Shares for April 20, 2012

2012-05-01 11:07:30 (читать в оригинале)

The shares of world’s largest manufacturer of heavy equipment – Caterpillar are likely to go downwards. Presently the shares are located near its local minimum. The breakdown of this level can result in fixed institutional investors’ positions after the release of positive report and activation of stop-orders for Sell-deals of private investors intend to buy shares after the report’s release. Thus, short intraday positions are recommended amid the prospect squeeze.

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

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GBP/CHF Is Correcting towards 1.4700

2012-05-01 10:54:50 (читать в оригинале)

 

Technical Outlook and Chart Setup:

It is just a question of time for bulls to reach 1.4790/1.4800 levels. As shown above the inner and outer channel lines are providing support to the single currency and are still holding. As it was mentioned yesterday it is better to enter around 1.4700, while the pair retraces its previous gains. Only a sustained break of channel line will change and delay the bullish outlook.

Trade Recommendations:

Buy around 1.4700 with stop at 1.4600 targetting 1.500 levels.

 

Best Regards.

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

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EUR/JPY Tests Support at 105.70/90

2012-05-01 10:51:54 (читать в оригинале)

 

Technical Outlook and Chart Setup:

Consider the following wave structure. 1) Wave 1: From 104.50 to 108.00 is in 5 steps. 2) Wave 2: From 108.00 to 105.50 is in 3 steps. Considering this fact we expect the Wave 3 to resume soon and reach the 109.20/30 levels and further in 5 steps. Support is currently provided by 104.50 while 107.50 and 108.00 are acting as intermediary resistance.

Trade Recommendation:

It is recommended to buy between 106.00 and 10630 with stop at 104.50.

 

Best Regards,

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

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USD/JPY Intraday Technical Levels for May 1, 2012

2012-05-01 10:50:25 (читать в оригинале)

 

TODAY's   TECHNICAL   LEVEL :

Resistance. 3 : 80.28.

Resistance. 2 : 80.13.

Resistance. 1 : 79.97.

Support. 1 : 79.78.

Support. 2 : 79.62.

Support. 3 : 79.46.

 

DESCRIPTION :

Please, consider support 3 (79.46) and resistance 3 (80.28) levels. In general, when a level has been reached, the USD/JPY pair will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign of that these currencies have found today's trends.

 

 

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com

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