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USD/JPY Wave Analysis for April 24, 2012

2012-04-24 11:53:22 (читать в оригинале)

 

Wave marking analysis:
On Friday the USD/JPY pair has begun its descent that yesterday acquired additional dynamics. As a result, the price has reached levels near figure 81. In case this descending movement develops according to the corrective scenario, then the yesterdays low can be considered as the end of the wave A in 2 (or B). If that proves to be so, then, when the formation of the wave B has been completed, the pair will continue the movement towards the point 80.80 or even 80.55. At the same time the MACD divergence looks controversial, as its elaboration can lead to the fall of quotes below the minimum of April 16 (80.30).

 

Targets for the option with the wave 2 or B:
80.83 – 23.6% according to Fibonacci
80.55 – 11.4% according to Fibonacci

Targets for the option with the wave 3 or C:
82.02 – 76.4% according to Fibonacci
82.30 – 88.6% according to Fibonacci

General conclusions and trading recommendations:
Presently we can see that despite the formation of the ascending part of the trend, we cannot define properly, which part of the trend has begun: whether this is a correction against the pair’s decline that took place in recent weeks or whether this is the resumption of the global ascending trend. The inner wave marking of the current ascent of quotes point at 3-wave structure. It is possible that the wave B (corrective) will be formed followed by the formation of the wave C (impulse). Also the whole ascending structure is likely to be transformed into 5-wave one. That is why the pair is expected to continue its downward movement towards 80.55 (wave 2 or B) and followed by the reversal towards the 82.30 level (wave 3 or C).

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

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EUR/JPY Intraday Technical Analysis

2012-04-24 11:38:55 (читать в оригинале)

 

The spot rate is presenlty testing the upper limit of its medium term bearish channel in 107.80 and is likley to decline. However, a breakdown of these levels will reveal significant potential and initiate a bullish trend.

Technical indicators provide buyers signals but as long as the resistance level remains unbroken, 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  violent movement.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will has broken its resistance in 107.80 with 108.40 and 108.60 seen as first objectives. A breakdown in 107.60 will reverse this scenario.

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

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GOLD Intraday Technical Analysis

2012-04-24 11:37:00 (читать в оригинале)

 

Gold is presently testing the intermediate support of its medium term bearish channel in 1620 indicating a possible rebound. However, a breakdown of these levels would entail a decline its lower limit at the level 1590.

Technical indicators provide buyers signals and as the support level is not broken yet, the assumption of a rebound is true. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

Considering previous situation, the market indicates a bullish opportunity at levels of 1620 with a 1st objectives seen at 1632 and 1635 levels. A breakdown in 1617 will cancel this scenario.

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

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GBP/USD Intraday Technical Analysis

2012-04-24 11:31:57 (читать в оригинале)

 

At the moment the spot rate is testing the upper limit of its medium term bullish channel in 1.6150 and is likely to initiate a decline. However, a breakdown of these levels will reveal significant potential and initiate more viloent bullish trend.

Technical indicators provide buyers signals but approaching the overbuy zone confirms the assumptions of a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

Proceeding from previous events, the market indicates a bullish opportunity as soon as the spot rate will has broken its resistance in 1.6150 with a 1st targets seen at 1.6210 and 1.6230 levels. In case the level 1.6130 is passed through, the prospect scenario will be cancelled.

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

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EUR/USD Intraday Technical Analysis

2012-04-24 11:26:47 (читать в оригинале)

 

The spot rate is presently testing the upper limit of its medium term bearish channel in 1.3230 and is likely to decline. However, a breakdown of these levels will reveal significant potential and initiate a bullish trend.

Technical indicators provide signals for buy deals but as long as the resistance level is unbroken, the assumption of a decline is relevant. 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 indicates a bullish opportunity as soon as the spot rate will has broken its resistance in 1.3230 with 1.3290 and 1.3310 seen as first targets. A breakdown in 1.3210 will cancel this scenario.

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