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EUR/JPY Elliott Wave Analysis for August 28 - 2012

2012-08-28 11:10:08 (читать в оригинале)

 

 

Today's Support and Resistance Levels:

S1: 97.80                      R1: 98.71

S2: 97.47                      R2: 99.18

S3: 96.83                      R3: 99.59

 

Technical Overview:  

Having failed to break above minor resistance at 98.83, red wave 4 has extended down to 97.88. However, the most important short term issue is that important support at 97.80 (the top of red wave 1) has not been broken. The Elliott Wave Principle only have three rules and one of them is that wave one and wave four can not overlap each other. If they do, we can not be in an impulsive rally, therefore, it is vital to our count that we does not see a break below 97.80 in red wave 4.

As long as important support at 97.80 has not been broken, we will look for a break above minor resistance at 98.71 for a rally towards 99.59 as the first possible target for red wave 5. At 99.59 red wave 5 will be 38.2% of the distance traveled from the bottom of red wave 1 to the top of red wave 3. If we break above 99.59, the next target will be near 100.60, where red wave 5 will be 61.8% of the distance traveled from the bottom of red wave 1 to the top of red wave 3.

 

Trading Recommendation:

You should be long EUR against JPY from 95.85 with a stop at 97.75, leaving you with a profit of at least 190 pips no matter what happens. If you are not long EUR already, you can buy a break above 98.72 (buy at 98.80) with a stop at 97.75 and take half profit at 99.50 and the other half at 100.50.

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

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USD/JPY Intraday Technical Levels for August 28, 2012

2012-08-28 11:07:38 (читать в оригинале)

 

Today's Technical Levels:

Resistance 3: 78.96.

Resistance 2: 78.61.

Resistance 1: 78.65.

Support 1: 78.46.

Support 2: 78.31.

Support 3: 78.15.

 

Description:

Please, pay attention to the levels of support 3 (78.15) and resistance 3 (78.96). 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.ifx.jakarta@gmail.com

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

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EUR/USD Intraday Technical Levels for August 28, 2012

2012-08-28 11:06:12 (читать в оригинале)

Today's Technical Levels:

Breakout BUY Level: 1.2562.

Strong Resistance: 1.2555.

Original Resistance: 1.2543.

Inner Sell Area: 1.2531.

Target Inner Area: 1.2501.

Inner Buy Area: 1.2471.

Original Support: 1.2459.

Strong Support: 1.2447.

Breakout SELL Level: 1.2439.

 

Description:

Today EUR/USD has support and resistance at 1.2459 and 1.2543 and is accompanied by strong support at 1.2447 and by 1.2555 as strong resistance.

If EUR/USD breaks out and closes below 1.2439 level today, this will indicate a considerable bearish strength, while if EUR/USD manages to break out and close above 1.2562 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 1.2471 and SELL position 1.2531, in this case both targets should be located at the level of 1.2501.

 

 

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 Analysis and Trading Recommendations for August 28, 2012

2012-08-28 11:03:41 (читать в оригинале)

 

 

The EUR/USD pair is demonstrating a strong bullish movement which was maintained within the depicted bullish channel. However, on Friday the market witnessed some bearish retracement in reaction to the upper limit of its movement channel around the price level of 1.2580.
Yesterday, the EUR/USD pair managed to breakdown the short term uptrend line depicted on the chart after finding resistance around the price level of 1.2535 on Thursday.
Breakdown of the price level 1.2490 probably opens a direct target towards 1.2435, then 1.2360.
The lower limit of the movement channel and two important Fibonacci levels & SMA 100 are located between 1.2310-1.2360 (S2 & S3) where price action should be watched for a valid low risk BUY entry with SL located below 1.2230 which corresponds to 78.6% of Fibonacci level.
The most significant Resistance level is located around 1.2575, this price level was tested last week expressing bearish reaction which pushed the EUR/USD pair strongly to the downside . That's why bullish movement should break through this level in order to make other bullish swings.

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

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USD/CAD Intraday Technical Analysis and Trading Recommendations for August 28, 2012

2012-08-28 10:58:27 (читать в оригинале)

The USD/CAD pair was trading in oversold position within a wide range bearish channel which is depicted on the chart in red, when the pair broke through the upper limit of the short term bearish channel presented on the chart in Blue indicating a possible bullish retracement towards price level of 0.9970 seen on Wednesday with successful retesting of the backside of the broken channel at 0.9888.
Breakout above the bearish Blue channel opens the way for the USD/CAD pair to visit the upper limit of the longer term channel around the price level of 1.0025 as long as the pair is trading within the current consolidation range above 0.9888. However, the pair found resistance around price level of 0.9945 which pushed the USD/CAD pair to retest 0.9888 again as expected before further continuation of the bullish movement.
Price level of 1.0025 corresponds to Fibonacci levels of 50% and 78.6% of the most recent two bearish swings. That's why price action should be watched there for a valid long term SELL entry with SL located above 1.0080.

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