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USD/CHF Technical Analysis and Trading recommendations for April 6, 2012

2012-04-06 16:10:07 (читать в оригинале)

4H

General picture:
On April 6 the USD/CHF pair continued the ascending movement and has overcome another resistance level. Presently MACD indicates a correction. The current signal for Buy-deals is confirmed and strong as Chinkou Span is fixed above the price chart and the price has overcome the Ichimoku Cloud. Therefore, the targets for uprising movement are seen at the third resistance level 0.9231. in case this levels has been overcome, the new target for bullish trading – the resistance level of the bigger timeframe 0.9449 – will be available. The ascending movement remains the same as long as the price is higher than Kijun-Sen (0.9110). While bullish trading above this line it is recommended to place Stop Loss. If the price goes below this line, the signal for Buy-deals will weaken and the further development of the ascending movement will questioned. Chinkou Span is located above the price chart confirming the current signal for Buy-deals and points at bullish mood on the USD/CHF market. Bollinger Bands shows the current ascending movement, lines are expanding and directed upwards. Therefore, it is recommended to consider the long positions. MACD is reversed to downside providing a signal that the correction has begun. Thus, the indicator does not allow to open new buying orders though in case MACD reverses to upwards, long positions will be relevant again.

 

Trading recommendations:
On the USD/CHF market it is recommended to take into account long positions with target seen at the level 0.9231. If the price passes this level through, the target for purchasers will be seen at the 0.9449 level. Stop Loss is to be placed below the point 0.9110. if this line goes higher Stop Loss can be placed after it. New long positions are recommended to be opened after the MAC reversal to upwards. With 50-60 pips of profit Stop Loss can be placed to the zero area. Take profits are to be placed a bit lower than the target levels (10-15 pips approximately).

Apart from the technical picture it is necessary to consider the fundamental data and the time of its release.

Explanations to the picture:
Ichimoku Indicator:
Tenkan-Sen – red line
Kijun-Sen – blue line
Senkou Span A – light brown dotted line
Senkou Span B – light blue dotted line
Chinkou Span – green line
Senkou Span B – violet dotted line
Bollinger Bands:
3 yellow lines
MACD Indicator:
Red line and the histogram with white bars in the indicators window.

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

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USD/CHF Technical Analysis for April 6, 2012

2012-04-06 13:02:16 (читать в оригинале)

Forecast:

At 0.9230 a strong level will be formed providing a clear signal for Sell-deals with the target seen at 0.9140 level. Stop Loss is to be placed above 0.9295.

 

Overview:

USD/CHF:

It is necessary to consider that the price is still located between points 0.93 and 0.9115, i.e. above the strong support level 0.9130 (100% of Fibonacci retracement levels on H4 chart). These levels correspond to 100% and 161.8% of Fibonacci retracement levels on the H4 chart. The pair has already formed a strong resistance at this level of 0.9215 and is presently approaching it for further testing. Therefore, the swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below the 0.9230 level. Sell-deals are recommended below 0.9230 with the first target seen at the 0.9160 level. Thus downtrend is likely to continue the bearish movement towards the 0.914 level. Moreover, it is crucial that the price has probably formed a strong support at 0.913 (100% of Fibonacci retracement levels on H4 chart). The saturation is like to take place around 0.913. Therefore it is possible that the market will start showing the signs of a bullish behaviour. In other words, Buy-deals are recommended above 0.9130 with the first target seen at the 0.9215 level and further at the 0.93 level.ly

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

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USD/CAD Elliott Wave Count for April 6, 2012

2012-04-06 13:01:06 (читать в оригинале)

USD/CAD Elliott Wave
Yesterday the USD/CAD pair was trading in a downward movement. During the European session this major started the ascending movement towards the 0.9998 level. We can consider this move as 5 wave; the bigger wave A (coloured blue) is finished. Therefore during the New York session we could observe the strong bearish mood that pull price to the new daily low at 0.9906 level. With this strong downward movement the wave B (coloured blue) was over. Today the USD/CAD pair continues its movement within a bearish mood and price is currently around 0.9925 level. Presently we can observe the start of C wave of the bigger (C) wave (coloured green). In accordance with our wave rules and taking into account that the wave C is equal as wave A, we can define the potential targets with Fibonacci extensions (0.9987-0.9998-0.9906); the First Take Profit at 0.9975 (61.8% of wave A) and Second Take Profit at 0.9994 (78.6 of wave A). For Stop Loss we can use the end of B wave at 0.9905. Also it is necessary to consider the data concerning the U.S. Non-Farm Employment Change and Unemployment Rate that can affect the rate of the pair

Support and Resistance levels
(S3) 0.9853 (S2) 0.9888 (S1) 0.9910 (PP) 0.9945 (R1) 0.9980 (R2) 1.0002 (R3) 1.0037

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the upward movement. That is why long positions at level 0.9940 with Stop Loss at 0.9905,Take Profit 1 at 0.9975 and Take Profit 2 at 0.9994 are recommended.

 

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

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AUD/USD Elliott Wave Count for April 6, 2012

2012-04-06 12:58:46 (читать в оригинале)

AUD/USD Elliott Wave

Yesterday the AUD/USD pair was trading in a sideways movement. During the European session we could observe the price reaching the 1.0318 level. We can consider this move as 1 wave (coloured pink) of the bigger wave 1 (coloured blue). The AUD/USD pair has failed to be fixed at this level and at the end of European session we could observe this major around 1.0250 level. Thus, the movement of the wave 2 (coloured pink) was over.Therefore during the New York session the price retested the daily high at 1.0325 level. Today price continued to push in a bullish mood but the Swiss and the European banks have holiday so we are not expecting big moves during the European session today. Presently we are in the 3 wave of the bigger  wave 1. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of wave 1, we can define the potential targets with Fibonacci extensions (1.0241-1.0318-1.0243); the First Take Profit at 1.0383 (161.8% of wave 1) and Second Take Profit at 1.0411 (200% of wave 1). For Stop Loss we can use the end of  wave C at 1.0242. Also it is necessary to consider the data concerning the U.S. Non-Farm Employment Change and Unemployment Rate that can affect the rate of the pair

Support and Resistance levels
(S3) 1.0220 (S2) 1.0247 (S1) 1.0264 (PP) 1.0290 (R1) 1.0317 (R2) 1.0334 (R3) 1.0360

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the upward movement. That is why long positions at level 1.03360 with Stop Loss at 1.0242,Take Profit 1 at 1.0383 and Take Profit 2 at 1.0411 are recommended.

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

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GBP/USD Wave Analysis for April 6, 2012

2012-04-06 12:04:47 (читать в оригинале)

 

Wave marking analysis:
Having completed during the yesterday’s Asian session the formation of the 4th wave, the GBP/USD pair resumed the descending movement and has nearly reached the level of figure 58. The downside movement that begun on April 2 is presently looking as completed 5-wave structure. If that proves to be so, the pair will probably rebound from last day’s low towards the point 1.5950. at the same time, considering the strong interest to dollar on the market, the 5th wave will apparently be prolonged resulting in decrease of quotes and testing of the level 1.5700.

 

Targets for the wave 5 in 1 or A:
1.5779 – 61.8% according to Fibonacci
1.5712 – 76.4% according to Fibonacci

Targets for the wave 2 or B:
1.5887 – 38.2% according to Fibonacci
1.5954 – 23.6% according to Fibonacci

Genera conclusions and trading recommendations:
At the moment the new downside part of the trend is being formed within the wave 1 or A. Intermediate targets are seen at Fibonacci levels 1.5779 and 1.5712 which are equal to 61.8% and 76.4% of Fibonacci respectively. The inner wave structure of the current wave points at the development of the wave 5 inside it indicating the possible growth of the pair in the nearest future. This growth is expected to take place within the wave 2 or B that may rise the quotes towards 1.5954 that corresponds to 23.6% of Fibonacci.

 

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