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AUD/USD Wave Analysis for October 12, 2012

2012-10-12 12:52:11 (читать в оригинале)

AUD/USD Elliott Wave
Yesterday the AUD/USD pair was trading in an upward movement developing the corrective wave (Y) (coloured purple) of the bigger wave 4 (coloured blue). During the Asian and European sessions we could observe ascending movement from 1.0210 towards 1.0293 level. We can consider this move as the end of the 4 wave (coloured blue). Therefore, during the late European and New York sessions the AUD/USD pair did not manage to hold this level and price retraced back to 1.0257 level. This major pair is trading around 1.0275 level at the moment and we are expecting to see price around 1.0004 level soon. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with Take Profit at 1.0004 (100% of wave 1). To reduce the risk, we can use invalidation at 1.0328 level as Stop Loss. Also it is necessary to monitor U.S. PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, FOMC Member Lacker Speaks, and Federal Budget that can change the rate of the pair.

Support and Resistance
(S3) 1.0171 (S2) 1.0203 (S1) 1.0223 (PP) 1.0255 (R1) 1.0287 (R2) 1.0307 (R3) 1.0339
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0260 with Stop Loss 1.0328 and Take Profit at 1.0004 are recommended.

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

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USD/CAD Wave Analysis for October 12, 2012

2012-10-12 12:49:23 (читать в оригинале)

USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in a downward move like we expected, developing impulsive wave (1) (coloured green) of the bigger (3) wave (coloured orange). Yesterday, during the Asian and European sessions we could observe strong descending movement from 0.9834 towards the 0.9785 level. Therefore, during the New York session the USD/CAD pair continued trading in a bearish mood reaching 0.9762 level. We can consider this move as the end of the wave (1) (coloured green). This currency pair is trading around 0.9785 level at the moment and we are expecting to see price lower soon. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with Fibonacci Extensions (0.9834 - 0.9762 - 0.9799), with Take Profit at 0.9687 (161.8% of wave 1). To reduce the risk, we can use invalidation at 0.9835 level as Stop Loss. Also it is necessary to monitor U.S. PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, FOMC Member Lacker Speaks, and Federal Budget that can change the rate of the pair.

Support and Resistance
(S3) 0.9723 (S2) 0.9751 (S1) 0.9767 (PP) 0.9795 (R1) 0.9823 (R2) 0.9839 (R3) 0.9867
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9766 with Stop Loss 0.9835 and Take Profit at 0.9687 are recommended.

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

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EUR/NZD - Elliott Wave Analysis for October 12 - 2012

2012-10-12 12:06:18 (читать в оригинале)

 

 

Today's Support and Resistance Levels: 

S1: 1.5754                    R1: 1.5785

S2: 1.5715                    R2: 1.5840

S3: 1.5684                    R3: 1.5914

 

Technical Overview:

 

Looking at the rally of the 1.5700 low we might conclude it looks like a simple zigzag correction before the next decline lower, but we do not see it in this way. We think that we are looking at a series of waves one's and two's, which should soon turn into a series of wave three's much higher. The good thing is that we know exactly when this count is wrong. A break below 1.5715 will tell us that the rally of the 1.5700 low was indeed a simple zigzag correction and we should look for a lower low near 1.5684.
However, if support at 1.5715 is not broken and we saw but we a break above 1.5819 instead, then we have the first sign that the next powerful rally is underway; while a break above 1.5850 confirms that wave iii of 3 is well under way.

 

 

Trading Recommendation:

You should be long EUR from 1.5725 and you can lift your already tight stop up to 1.5710.

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

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EUR/JPY - Elliott Wave Analysis for October 12 - 2012

2012-10-12 11:40:07 (читать в оригинале)

 

 

Today's Support and Resistance Levels:

S1: 101.21                    R1: 101.72

S2: 100.59                    R2: 101.89

S3: 100.15                    R3: 102.08

 

Technical Overview:  

 

Our triangle scenario is working well. We saw the expected move higher yesterday, as wave D of the triangle is developing. In the short term we are looking for a minor correction down to 101.10 before the next move higher towards the 101.89 - 102.08 area starts. We are expecting wave D ends before the final E wave of the triangle takes us down to 101.10 and maybe even 100.89 to set the stage for the next impulsive rally higher.
The waves within a triangle tend to alternate with each other. That is why we expect only a relatively small move higher once the ongoing weak reaction is finished near 101.10.

 

Trading Recommendation: 

You should be long EUR from 100.25 and you should lift your stop to break even at 100.25. Take profit at 101.85.

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

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USD/JPY Intraday Technical Levels for October 12, 2012

2012-10-12 11:11:04 (читать в оригинале)

TODAY's  TECHNICAL  LEVELS:

Resistance 3: 78.88.

Resistance 2: 78.73.

Resistance 1: 78.57.

Support 1: 78.38.

Support 2: 78.23.

Support 3: 78.07.

 

DESCRIPTION:

 

Please, pay attention to the levels of support 3 (78.07) and resistance 3 (78.88). In general, when a level is touched, USD/JPY 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 that these currencies have found trends today.

 

 

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

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