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GBP/USD Consolidation for March 28, 2012 (Daily Strategy)

2012-03-28 18:36:01 (читать в оригинале)

 

 

The GBP/USD pair trades in a downward trend on 4H chart due to the announcement that the UK GDP fell again in the fourth quarter of 2011. The UK financial stability remains highly uncertain. The European debt problems will continue to exert pressure on the British economy.
Considering the technical levels, the pound is approaching the bullish channel near the weekly pivot point; if there is a break of this trend line, it will change the scene for the next session. Moreover, a rebound above the weekly PPV around 1.5853 would be a good point to buy with targets at 1.6000
The MACD indicator is in oversold area and is showing possible consolidation.

 

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

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USD/CAD Elliott Wave Count for March 28, 2012

2012-03-28 15:51:05 (читать в оригинале)

Market Overview
Yesterday the USD/CAD pair was trading within the upward trend. During the European session the major started to ascend towards 0.9930. Therefore, during the New York session we were able to observe continuation of the bullish mood; the price reached the new daily high at 0.9955 at the end of session. Today during the Asian session we could observe continuation of upward trend and price reached the 0.9975 level. Today the USD/CAD pair is expected to test the 0.9900 level. Also it is necessary to consider the data concerning the USD Core Durable Goods Orders m/m, Durable Goods Orders m/m and Crude Oil Inventories that can affect the rate of the pair.

Support and Resistance levels
(S3) 0.9881 (S2) 0.9902 (S1) 0.9915 (PP) 0.9936 (R1) 0.9957 (R2) 0.9970 (R3) 0.9991

USD/CAD Elliott Wave Analysis
The USD/CAD pair has finished A wave (coloured blue) of the bigger (C) wave (coloured green) in the point 0.9976. Presently we can observe start of B wave (coloured blue). In accordance with our wave rules and taking into account that the wave B should retrace from 50 - 61.8% of wave A, we can define the potential targets with the Fibonacci retracement (0.9899-0.9976); the First Take Profit at 0.9937 (50% of wave A) and Second Take Profit at 0.9928 (61.8% of wave A). For Stop Loss we can use the 1.0000 resistance level.

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the downward movement. That is why Short position at levels 0.9960 with Stop Loss at 1.0000, Take Profit at 0.9937 and Take Profit 2 at 0.9928 are recommended.

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

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GBP/USD Intraday Technical Analysis for March 28 - 29, 2012

2012-03-28 14:16:53 (читать в оригинале)

 

Pivot Point: 1.5965.

GBP/USD:

• Resistance: 1.6015. (Sell below this level).
  
• Support: 1.58. (Buy above this level).
  

Trading Recommendations:

 

According to the previous events, the price is still located between 1.579 and 1.598 levels.

 

BUY-deals are recommended higher than the 1.58 level with targets at levels 1.585 and 1.594.
The descending movement will probably take place lower than the 1.6 level with the first targets seen at 1.594, 1.59 and 1.586 levels.

Overview:

It should be mentioned that the market revealed the signs of instability. The trend movement was controversial as it took place in a narrow sideways channel. Concerning the previous events, the price is still between the levels 1.598 and 1.579, so it is recommended to be cautious while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then, the market will probably indicate the signs of a bullish trend. In other words, BUY-deals are recommended higher than the 1.58 level with its first target seen at level 1.585. From this point the pair is likely to begin the ascending movement to the point 1.59 and further to the level 1.594. However, if the pair does not manage to pass through the level 1.6015, the market will indicate a bearish opportunity below the strong resistance level 1.6. In this regard, SELL-deals are recommended lower than the 1.6 level with the point 1.595 seen as first target. The pair is likely to turn to downwards continuing the development of the bearish trend to the level 1.585.

 

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

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USD/CHF Technical Analysis for March 28 - 29, 2012

2012-03-28 14:14:39 (читать в оригинале)

Overview:

USD/CHF:

It is necessary to consider that the price is still located between the points 0.913 and 0.9, i.e. above the strong support level 0.893 (00% of Fibonacci retracement levels on H4 chart). These levels correspond to 38.2% and 23.8% of Fibonacci retracement levels on the H4 chart. The pair has already formed a strong resistance at this level of 0.9133 and it is now approaching it for further testing. Therefore, the Swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below 0.916 level. Sell-deals are recommended below 0.9133 with the first target seen at 0.9025 level. Thus downtrend is likely to begin continuing the bearish movement towards the 0.90 level. Furthermore, it is also important that the price has probably formed a strong support at 0.894 (0.893: 00% of Fibonacci retracement levels on H4 chart). The saturation is like to take place around 0.8935. Therefore it is possible that the market will start showing the signs of a bullish behaviour. In other words, Buy-deals are recommended above 0.8935 with the first target seen at the 0.903 level and further at the 0.91 level.

Forecast:

At 0.894 a strong level will be formed, providing a clear signal for Buy-deals with the target seen at 0.913 level. Stop Loss is to be placed below 0.88.

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

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AUD/USD Elliott Wave Count for March 28, 2012

2012-03-28 13:14:17 (читать в оригинале)

Market Overview
Yesterday the AUD/USD pair was trading within the downward trend. During the European session the major started to decline to 1.0500 (200 EMA support). Therefore, during the New York session we could observe continuation of the bearish mood; the price reached the new daily low at 1.0450 at the end of session. Today during the Asian session we could observe continuation of downward trend and price above 1.0410.Today the AUD/USD pair is expected to test 200 EMA. Also it is necessary to consider the data concerning the USD Core Durable Goods Orders m/m, Durable Goods Orders m/m and Crude Oil Inventories that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0382 (S2) 1.0427 (S1) 1.0456 (PP) 1.0501 (R1) 1.0546 (R2) 1.0575 (R3) 1.0620

AUD/USD Elliott Wave Analysis
The AUD/USD pair has finished (A) wave (colored black) of the bigger B wave (colored blue) in the point 1.0557.Presently we can observe end of (B) wave (colored black).In accordance with our wave rules and taking into account that the wave C is equal to the wave A, we can define the potential targets with the Fibonacci retracement (1.0335-1.0557-1.0400); the First Take Profit at 1.0586 (78.6% of wave A) and Second Take Profit at 1.0633 (100% of wave A). For Stop Loss we can use 1.0336 invalidation level.

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the upward movement. That is why Long position at levels 1.0455 with Stop Loss at 1.0336, Take Profit at 1.0586 and Take Profit 2 at 1.0633 are recommended.

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