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EUR/JPY Elliott Wave Analysis for September 5 - 2012

2012-09-05 11:16:56 (читать в оригинале)

 

 

Today's Support and Resistance Levels:

S1: 97.98                      R1: 98.60

S2: 97.80                      R2: 99.02

S3: 97.80                      R3: 99.36

 

Technical Overview: 

We failed to move above the resistance at 99.02 yesterday, which has made many scenarios possible. The first scenario is that we are still working on blue wave iv of red wave 5 and that it will end near 98.07 for one last rally higher towards the 99.12 - 99.36 area. If, however, we break below the bottom of blue wave ii at 97.98, the first scenario is invalidated and then the second scenario takes over. This scenario says that blue wave v of red wave 5 was a fifth failure which means that a new high was not seen. This is a sign of overall weakness, however, if we are in a new long-term uptrend from 94.09, a break below 97.33 can not be allowed before a new high above 99.12 is seen. In a short-term we should see strong support at 97.80, which is expected to protect the downside for the next rally above 99.12.

 

Trading Recommendation:

Our stop at 98.20 was taken out, which leaves us with a profit of 235 pips for the long EUR against JPY position we have from 95.85. We will re-buy EUR against JPY at 97.80 with a 97.30 stop

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

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Daily Trading Forecasts (September 5, 2012)

2012-09-05 11:13:02 (читать в оригинале)

EURUSD: The EURUSD pair was slightly corrected to the downside yesterday - albeit in a context of a near-term uptrend. The price is now around the resistance level at 1.2550 which should do some job in checking further downward moves.

 

USDCHF: As for this pair, the bearish hegemony still holds as the price hovers around the level at 0.9950. This is a precarious situation, and the bears still have some strength in it. The level of 0.9550 is yet not a lofty aim (it is an easy target).

 

GBPUSD: The cable was still able to maintain its northbound tendency; though in a rangebound mode. The great resistance level at 1.5900 was further tested a few times on Tuesday. If this level is breached, the price might rise further.

 

EURJPY: The EURJPY cross has so far traded sideways between the resistance line at 99.00 and the support line at 98.50. This support lines have done a great job resisting further southward threat. There is a long signal here.

 

USDJPY: On Tuesday, there were several futile attempts by the bulls to push the price higher as the price failed to reach the supply zone at 78.50. I still expect the price to go to the south as the recalcitrant USD might weaken further. 

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

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USD/JPY Intraday Technical Levels for September 5, 2012

2012-09-05 11:09:16 (читать в оригинале)

Today's Technical Levels:

Resistance 3: 78.89.

Resistance 2: 78.73.

Resistance 1: 78.58.

Support 1: 78.39.

Support 2: 78.24.

Support 3: 78.08.

 

Description:

Please, pay attention to the levels of support 3 (78.08) and resistance 3 (78.89). In general, when a level is touched, USD/JPY rebounds 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 of 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.ifx.jakarta@gmail.com

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

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EUR/USD Intraday Technical Levels for September 5, 2012

2012-09-05 11:07:47 (читать в оригинале)

Today's Technical Levels:

Breakout BUY Level: 1.2593.

Strong Resistance: 1.2586.

Original Resistance: 1.2574.

Inner Sell Area: 1.2562.

Target Inner Area: 1.2532.

Inner Buy Area: 1.2502.

Original Support: 1.2490.

Strong Support: 1.2478.

Breakout SELL Level: 1.2470.

 

Description:

Today EUR/USD has support and resistance at 1.2490 and 1.2574 and is accompanied by strong support at 1.2478 and by 1.2586 as strong resistance.

If EUR/USD breaks out and closes below 1.2470 level today, this will indicate a considerable bearish strength, while if EUR/USD manages to break out and close above 1.2593 level, this will denote a high bullish strength. Alternatively, for advance traders, you can trade in a way to open BUY position at the level of 1.2502 and SELL position at 1.2562, in this case both targets should be located at the level of 1.2532.

 

 

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

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

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GBP/USD: Technical Analysis for September 5, 2012

2012-09-05 09:21:03 (читать в оригинале)

 

Weekly Pivot Point: 1.5839.

 

 

 

Weekly Pivot Points:

R3: 1.6067
R2: 1.5981
R1: 1.5925
PP: 1.5839
S1: 1.5783
S2: 1.5697
S3: 1.5641

GBP/USD "Pound-Dollar":
• Resistance: 1.5950 (sell below this level).
• Support: 1.5800 (buy above this level).

Trading Recommendations:

According to the previous events, the price is still between the levels of 1.5813 and 1.5888.

 

• The descending movement will probably be lower than 1.5950 level with the first target at 1.5913 and 1.5840 levels.
• Buy deals are recommended above the 1.5800 level with targets at 1.5903 and 1.5947 levels.

 

Overview:

It should be noticed that the market showed the signs of instability. The trend movement was controversial as it took place in a narrow sideways channel. Due to the previous events, the price is still between the levels of 1.5813 and 1.5888, so it is recommended to be careful while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then the market will probably show the signs of a bullish trend. In other words, buy deals are recommended above 1.5800 level with their first target at the level of 1.5840 (The weekly pivot point). From this point, the pair is likely to begin an ascending movement to the point of 1.5903 and further to the level of 1.5947. However, if the pair fails to pass through the level of 1.5950, the market will indicate a bearish opportunity below the strong resistance level of 1.5950. In this regard, sell deals are recommended lower than the 1.5950 level with the first target at 1.5913. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.5840 then 1.5783 (The weekly support 1, for September 3 - 7, 2012.).

 

 

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