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GBP/USD: Technical Analysis for August 30, 2012

2012-08-30 13:55:25 (читать в оригинале)

 

Weekly Pivot Point: 1.5801.

 

 

Weekly Pivot Points:

R3: 1.6158
R2: 1.6036
R1: 1.5923
PP: 1.5801
S1: 1.5688
S2: 1.5566
S3: 1.5453

GBP/USD "Pound-Dollar":
• Resistance: 1.5910 (sell below this level).
• Support: 1.5700 (buy above this level).

Trading Recommendations:

According to the previous events, the price is still between the levels of 1.5750 and 1.5825.

 

• The descending movement will probably be lower than 1.5910 level with the first target at 1.5855 and 1.5801 levels.
• Buy deals are recommended above the 1.5700 level with targets at 1.5777 and 1.5861 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 1.5750 and 1.5825, 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 1.5700 level with their first target at the level of 1.5777. From this point, the pair is likely to begin an ascending movement to the point of 1.5815 and further to the level of 1.5860. However, if the pair fails to pass through the level of 1.5910, the market will indicate a bearish opportunity below the strong resistance level of 1.5910. In this regard, sell deals are recommended lower than the 1.5910 level with the first target at 1.5855. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.5801 (The weekly pivot point).

 

 

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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AUD/USD Weekly Wave Analysis

2012-08-30 12:57:23 (читать в оригинале)

AUD/USD Elliott Wave
For the last 2 weeks the AUD/USD pair was trading in a strong downward move, developing corrective wave A (coloured green) of the bigger wave (E) (coloured orange). Yesterday during the early European session we could observe an ascending movement towards the 1.0397 level (new daily high). Therefore, at the beginning of the New York session this currency pair did not manage to hold this level and the price pushed lower reaching a 1.0347 level. At the moment the AUD/USD pair is trading around 1.0328 level and we are expecting to see the price around 0.9825 level in a few weeks. In accordance with our wave rules and taking into account that the wave E retraces 61.8% of the wave C, we can define the potential targets by measuring wave C, with Take Profit 1 at 0.9974 (50% of wave C) and Take Profit 2 at 0.9824 (61.8% of wave C) To reduce the risk, we can use resistance at 1.0410 as Stop Loss. Also it is necessary to monitor the U.S. Prelim GDP q/q, Pending Home Sales m/m, Crude Oil Inventories, Beige Book and EU German Prelim CPI m/m data that can change the rate of the pair.
Support and Resistance
(S3) 1.0283 (S2) 1.0315 (S1) 1.0332 (PP) 1.0364 (R1) 1.0381 (R2) 1.0413 (R3) 1.0430
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0315 with Stop Loss 1.0410, Take Profit 1 0.9974 and Take Profit 2 0.9824 are recommended.

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

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USD/CHF Wave Analysis for August 30,2012

2012-08-30 12:56:04 (читать в оригинале)

USD/CHF Elliott Wave
Since our last analysis the USD/CHF pair was trading in a downward move like we expected, developing impulsive (3) wave of the bigger (5) wave (coloured purple). Yesterday during the European and New York sessions we could observe a descending movement from 0.9635 towards the 0.9547 level and we can consider this move as confirmation of our count. At the moment this major pair is trading around 0.9565 level and we are expecting to see the price around 0.9455 level soon. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9660-0.9538-0.9634), with Take Profit at 0.9457 (161.8% of wave 1). To reduce the risk, we can use resistance point at 0.9595 level as Stop Loss. Also it is necessary to monitor the U.S. Unemployment Claims, Core PCE Price Index m/m and Personal Spending m/m data that can change the rate of the pair.
Support and Resistance
(S3) 0.9533 (S2) 0.9549 (S1) 0.9559 (PP) 0.9576 (R1) 0.9592 (R2) 0.9602 (R3) 0.9619
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9550 with Stop Loss 0.9595 and Take Profit 0.9457 are recommended.

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

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GBP/USD. Forecast for August 30, 2012

2012-08-30 12:54:02 (читать в оригинале)

 

Those who trading the British pound were probably less sensible towards European concerns and were acting with optimism. The pound gained 14 points against the euro drop of 45 points. Also the Paralympic Games opened yesterday which had its positive impact.
Today at 12:30 (+3 GMT) we will get data on mortgage approvals for July. The forecast is 47K against 44.2K in June.
The price may move in the range of 1.5807 – 1.5871 ahead of the conference in Jackson Hole.

 

   

Юрий Зайцев участвует в конкурсе "Аналитик года", проголосуйте за него, если вам понравилась данная статья.

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

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Obama or Romney? Markets do not care

2012-08-30 12:43:49 (читать в оригинале)

 

Will the markets feel better under Romney or under Obama? Many analysts think that there is no difference.
Of course, despite who wins in November, he will have to determine economic prospects of the country, cope with financial crisis, healthcare issues and many other crucial problems. Barack Obama and Mitt Romney are major contenders to the presidency but both of them do not have much influence on the markets.
It is hard to foresee how the market will behave in this or that case. There are too many of long term tendencies and factors which could not change the market direction just because there are some changes in the White House.
It is obvious that the elections will be predetermined by the problems in the country of that period. Investors from the both of sides admit one thing about the taxations: they must grow. However, who is going to pay more is not known yet.
Some experts note that political leaders of the country seem not to be able to compromise. Better not to think about the consequences of such behavior. Nevertheless, you can be sure that the economists of the Republican Party or democrats think that their ideas will be prosperous for the country while the actions of their opponents will lead to the crush.
Stock market correlates with profits and dividends and mainly depends on the business activity which is hard to predict. It is vital that the government will be able to create commercial benefits.

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