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EUR/JPY Candlestick Analysis for September 10, 2012

2012-09-10 17:28:45 (читать в оригинале)

Daily

After two weeks of being in the narrow sideways channel, the EUR/JPY rate demonstrated a quotes’ growth for three days and reached the correctional level of 76.4% - 100.44 Fibonacci on Friday. Building of two bearish formations (but during the period of low volatility) did not affect the price. The rate can turn in favor of the yen near the correctional level 76.4% and then begin the downward movement which may continue until the correctional level of 100.0% - 97.01. On the other hand, quotes fixation above the Fibonacci level of 76.4% may enable the quotes rise towards the correctional level of 61.8% - 102.55. Bearish candlestick formation will intensify the expectations of quotes rebound from the level of 76.4%.

4h

4-hour chart also shows continuation of quotes growth after two weeks’ lull. Fixation of rate above the correctional level 76.4% - 99.85 Fibonacci happened on Friday. The bearish candlestick formation Shooting Star was formed after it; however, it did not help the quotes to fall below the correctional level of 76.4%. Moreover, bullish candlestick formation Harami was formed on the next candlestick which contributed to the further quotes growth towards the correctional level of 100.0% - 101.62. If the fixation below the correctional level of 76.4% Fibonacci happens, the pair will get the opportunity to shrink to the correctional level of 61.8% - 98.74.

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

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EUR/JPY Wave Analysis for September 10, 2012

2012-09-10 14:54:54 (читать в оригинале)

EUR/JPY Elliott Wave
Last week the EUR/JPY pair was trading in an upward move, developing impulsive 5 wave (coloured purple) of the bigger wave 3 (coloured blue). During the Friday's Asian and European sessions we could observe a strong ascending move from 99.60 towards 100.42 level and we can consider this move as the end of the impulsive 3 wave (coloured blue). Therefore, during the New York session when development of the 4 wave (coloured blue) starts we could observe the price pushing lower. Today the EUR/JPY pair was trading around 100.00 level and we are expecting to see the price around 99.30 soon. In accordance with our wave rules and taking into account that the wave 4 should retrace 100% of the wave 2, we can define the potential targets with measuring 2 wave, with Take Profit 1 at 99.12 (61.8% of wave 2) and Take Profit 2 at 98.32 (100% of wave 2). To reduce the risk, we can use resistance at 100.45 as Stop Loss. Also it is necessary to monitor the JPY Household Confidence, Economy Watchers Sentiment, BSI Manufacturing Index, M2 Money Stock y/y and EU French Industrial Production m/m, Sentix Investor Confidence data that can change the rate of the pair.
Support and Resistance
(S3) 99.25 (S2) 99.57 (S1) 99.77 (PP) 100.09 (R1) 100.41 (R2) 100.61 (R3) 100.93
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 99.95 with Stop Loss 100.45, Take Profit 1 at 99.12, and Take Profit 2 at 98.32 are recommended.

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

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USD/CAD Wave Analysis for September 10, 2012

2012-09-10 14:45:15 (читать в оригинале)

USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in a downward move, developing extended 5 wave (coloured blue) of the bigger wave (1) (coloured green). During the Friday's Asian session we could observe a descending movement from 0.0935 towards the 0.9804 level and we can consider this move as the end of the wave 1 of the bigger wave 5 (coloured blue). Therefore, during the early European session the USD/CAD pair did not manage to hold this level and the price retraced back to 0.9827 level (end of the 2 wave). At the moment price is trading around 0.9780 level and we are expecting to see it higher when developing  the (2) wave (coloured green) starts. In accordance with our wave rules and taking into account that the wave 2 should retrace 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (0.9917-0.9755), with Take Profit at 0.9852 (61.8% of wave 1). To reduce the risk, we can use support 0.9750 as Stop Loss. Also it is necessary to monitor the U.S Consumer Credit m/m data that can change the rate of the pair.
Support and Resistance
(S3) 0.9725 (S2) 0.9752 (S1) 0.9768 (PP) 0.9794 (R1) 0.9821 (R2) 0.9837 (R3) 0.9863
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin its upward movement. That is why long positions at level 0.9775 with Stop Loss 0.9750 and Take Profit at 0.9852 are recommended.

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

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NZD/USD: Weekly Technical Levels for September 10 - 14, 2012

2012-09-10 14:29:17 (читать в оригинале)

Weekly Technical Levels:

 

Tip (s):

 

• R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, although it is possible to pass them through. 

• Pivot lines work well on the sideways markets, as prices will probably be located between the R1 and S1 lines.

• Within a strong trend, the price is expected to be lower than the pivot point line and is going to continue its movement.

• If the news released affect the market, the price is likely to go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.

Observation (s):

• If the trend is of an upside character, then the strength of the currency will be defined as following: NZD is an uptrend and USD is a downtrend.
• Fibonacci retracement is used to determine accurate psychology level of support and resistance, and playing according to in this kind of period.
• Fibonacci is in a range trader: it is looks like the trend is trapping and going up or down, if you sell or buy for a long term in this period, you'll go sure for losing your profit.
• Stop Loss should NEVER exceed your maximum exposure amounts.
• Usually the market has a high volatile, if the last day had a huge volatility.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

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

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Daily Trading Forecasts (September 10, 2012)

2012-09-10 14:27:34 (читать в оригинале)

EURUSD: The EURUSD ended up rising by over 250 pips last week. The price is now above the level at 1.2800 and is expected to continue.

USDCHF:  After some decisive battle between bulls and bears, this pair fell by more than 110 pips last week. The price is expected to reach the level of 0.9350 this week.

 

GBPUSD: The cable rose by over 160 pips last week, closing at 1.6008. A price level at 1.6100 is expected to be reached this week.

 

EURJPY: The EURJPY went up by 180 pips last week, as it closed at 100.28. This week if the present outlook continues to be valid, the price may reach the level of 101.00.

 

USDJPY: Based on the market fundamentals, this pair, which traded in some tight range, rose and fell last week. It touched the resistance level at 79.00, fell by almost 100 pips and almost reached the support level at 78.00. In correlation with other JPY pairs, the USDJPY is expected to rise this week.

  

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