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USD/CAD Elliott Wave Count for April 3, 2012

2012-04-03 14:46:09 (читать в оригинале)

USD/CAD Elliott Wave Analysis
The USD/CAD pair was trading within the downward move yesterday.With a gap we saw at Monday opening we finish 1 wave (coloured pink). During the Asian session this major started to ascend toward to the 0.9990 level filling the gap. We can consider this weak bullish move as 2 wave (coloured pink), Therefore during the European and New York session we can observe strong bearish mood in the USD/CAD pair and price has reached 0.9887, this was end of 3 wave (coloured pink). At the end of New York session this major pair tried to push the price higher and we saw closing of Monday session at the 0.9904 level. Today during the Asian session we could observe price retest of the yesterday low and within this move we finish B wave (coloured green). Presently we can observe a start of the corrective C wave (coloured green). In accordance with our wave rules and taking into account that the wave C should be equal as wave A, we can define the potential targets with the Fibonacci extensions (0.9840-1.0035-0.9887); the First Take Profit at 0.9983 (50% of wave A) and Second Take Profit at 1.0006 (61.8% of wave A). For Stop Loss we can use the 0.9860 resistance level. Also it is necessary to consider the data concerning the USD Factory Orders m/m, FOMC Meeting Minutes and FOMC Member Williams Speaks that can affect the rate of the pair.

Support and Resistance levels
(S3) 0.9826 (S2) 0.9865 (S1) 0.9889 (PP) 0.9928 (R1) 0.9967 (R2) 0.9991 (R3) 1.0030

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the Upward movement. That is why Long position at levels 0.9930 with Stop Loss at 0.9860,Take Profit 1 at 0.9983 and Take Profit 2 at 1.0005 are recommended.

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

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GBP/USD Intraday Technical Analysis and (Linear Regression Channel) for April 3, 2012

2012-04-03 14:42:16 (читать в оригинале)

 

The Linear Regression Channel for the GBP/USD currency pair reveals the following:
The GBP/USD has trended upside since last week within the Blue and Violet channels. However, the newer channels are less bullish than the Yellow one.
The pair is testing the lower limit of the Yellow channel at 1.6017 which is the key-level for the pair movement today.
Bearish Breakout outside the Yellow channel below 1.6015 opens the way to 1.3250.

 

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

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EUR/JPY Elliott Wave Count for April 3, 2012

2012-04-03 14:40:38 (читать в оригинале)

EUR/JPY Elliott Wave Analysis
The EUR/JPY pair was trading in a sideways trend for the last few days. We can label this move with triangle (A, B, C, D, E), yesterday this major pair was trading within the downward trend, the price reached 108.95 in the New York session and we can call this move as A wave (coloured blue), we saw in the last hours of Mondays trading day a pull-back to 109.60 and we can label this move as B wave (coloured blue). Today bearish mood continue in the Asian session and with this move the EUR/JPY pair has finished final c wave of the bigger E wave (coloured green) in the point 108.70. Presently we can observe (i) wave (coloured green). Today the EUR/JPY pair is expected to test 110.00 before we can see little correction. For protecting our trade we can use Stop Loss at the 109.00 support level. Also it is necessary to consider the data concerning the EURO Final GDP q/q that can affect the rate of the pair.

Support and Resistance levels
(S3) 107.62 (S2) 108.45 (S1) 108.96 (PP) 109.80 (R1) 110.63 (R2) 111.14 (R3) 111.98

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the Upward movement. That is why Long position at levels 109.35 with Stop Loss at 109.00 and Take Profit at 110.00 are recommended.

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for April 3, 2012

2012-04-03 14:07:14 (читать в оригинале)

The GBP/USD Daily chart which illustrates the bearish swing between 1.6616 and 1.5232 reveals that the pair has strong resistance at 1.6085 which corresponds to 61.8% Fibonacci level.

Price Level 1.6130 located slightly higher than 61.8% Fibonacci has been acting as resistance each time when tested.

Thus, levels 1.6085-1.6130 are considered as a significant supply zone in the Long-term and also as a good SELL entry for swing traders.

The GBP/USD pair is considered bullish as long as it is being traded above 1.5985. However, the breakthrough will result in a quick decline towards the 1.5875 level.

Yesterday we didn't witness significant movement except bearish engulfing 4H candlestick towards 1.6060 which fails to reverse the short-term direction till now.

We suggested that last week's BUY positions located at the 1.5858 level achieved TP levels at 1.5940 and 1.5995, where some profits should have been taken with a possibilty to remain bullish towards 1.6085 and 1.6130.

At the moment BUY positions are considered as too risky, so price action towards 1.6130 should be carefully observed in order to catch a mid-term short position.

A breakdown of 1.5985 to the downside is considered a bearish signal for the short-term prospective.

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

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EUR/JPY Intraday Technical Analysis

2012-04-03 14:05:17 (читать в оригинале)

 

 

The spot rate is moving in a medium-term trading range and approach to the intermediate resistance of this one in 109.80 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its trading range to 111.30.

 

Technical indicators provide buyers signals but until that the reistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded to a result of the strong decline of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 109.80 with a 1st objective of 110.40, then 110.60. A break in 109.60 would invalidate this scenario.

 

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