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EUR/JPY Elliott Wave Analysis for August 24 - 2012

2012-08-24 11:19:47 (читать в оригинале)

 

 

Today's Support and Resistance Levels:

S1: 98.26                      R1: 99.02

S2: 98.07                      R2: 99.18

S3: 97.80                      R3: 99.37

 

Technical Overview:
It seems that red wave 4 became even shallower than we expected. We have most likely seen the end of red wave 4 at 98.08 and should ideally see a break above minor resistance at 99.02 soon for a move higher towards the red wave 5 and black wave 3, target at 99.72. Once we have ended red wave 5 and black wave 3, we should see a new shallow black wave 4. Due to Elliott's alternation principle, that says, that if wave 2 was a simple and deep correction, wave 2 should be shallow but complex in its structure.
At no point should we break below the top of red wave 1 at 97.80 before we have seen at least a new high above the top of red wave 3 at 99.18.

Trading Recommendation:
You should be long EUR against JPY from 95.85. Lift your stop from 97.45 to 97.75 which will give you a profit of 190 pips if triggered, which we do not expect.
If you are not long EUR already, you can buy here with the same stop and take profit at 99.50.

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

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USD/JPY Intraday Technical Levels for August 24, 2012

2012-08-24 11:16:43 (читать в оригинале)

 

Today’s Technical Level:
Resistance 3: 78.96.
Resistance 2: 78.80.
Resistance 1: 78.65.
Support 1: 78.46.
Support 2: 78.30.
Support 3: 78.14.

Description:
Please, pay attention to the levels of support 3 (78.14) 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 24, 2012

2012-08-24 11:14:53 (читать в оригинале)

 

Today’s Technical Levels:
Breakout BUY Level: 1.2595.
Strong Resistance: 1.2588.
Original Resistance: 1.2576.
Inner Sell Area: 1.2564.
Target Inner Area: 1.2533.
Inner Buy Area: 1.2503.
Original Support: 1.2492.
Strong Support: 1.2480.
Breakout SELL Level: 1.2472.

Description:
Today EUR/USD has support and resistance at 1.2492 and 1.2576 and is accompanied by strong support at 1.2480 and by 1.2588 as strong resistance.
If EUR/USD breaks out and closes below level today 1.2472, this will indicate a considerable bearish strength, while if EUR/USD manages to break out and close above level 1.2595, this will denote high bullish strength. Alternatively for advance traders, you can trade in a way to open BUY position at the level of 1.2503 and SELL position 1.2564; in this case both targets should be located at the level of 1.2533.

 

 

 

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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USD/CHF: Intraday Technical Analysis for August 24, 2012

2012-08-24 10:08:23 (читать в оригинале)

Forecast:

• Strong level (Resistance) will be formed at 0.9633 providing a clear signal for sell deals with the target seen at the 0.9503 level. Stop loss is to be placed above 0.9680.

• Strong level (Support) will be formed at 0.9500 / 0.9440 providing a clear signal for buy deals with the target seen at the 0.9630 level. Stop loss is to be placed below 0.9400.

 

 

 

Overview:

USD/CHF:

It is necessary to consider that the price is still located between points of 0.9633 and 0.9500, i.e. above the strong resistance level 0.9633. The pair has already formed a strong resistance at this level of 0.9633 and is presently approaching it for the further testing. Therefore, the Swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below the 0.9633 level. Sell deals are recommended below 0.9630 with the first target seen at the 0.9575 level. Thus, the downtrend is likely to continue the bearish movement towards the 0.9503 level. Moreover, it is crucial that the price has probably formed a strong support at 0.9500 / 0.9440. The saturation is likely to take place around 0.9440. Therefore, it is possible that the market will start showing the signs of a bullish behavior. In other words, buy deals are recommended above 0.9440 with the first target seen at the 0.9500 level and further at the 0.9630 level.

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

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EUR/CHF: Technical Analysis for August 24, 2012

2012-08-24 10:08:03 (читать в оригинале)

Forecast:

• At 1.2 a strong level (Support) will be formed providing a clear signal for Buy-deals with the target seen at the 1.2540 level. Stop Loss is to be placed below 1.1850.

 

History tends to repeat itself!

Overview:

EUR/CHF: The market is still showing signs of strength following the break above 1.2000. Therefore, it will turn to a strong support. In such case, a stronger rise should be seen towards 1.2524 resistance for confirmation. Moreover, the trend is still above 50% Fibonacci retracement level, thus it will be a good sign to buy above 1.2 and sell below 1.1850.

 

Types of Analysis:

 

• Fundamental analysis: the Swissie is also quoted amid the promise to “buy unlimited euro” in order to support this market.
• Technical analysis: on a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels) then it indicates for a bullish market.
• Sentiment analysis: psychology level is at 1.2000, than one should be patient to keep the trade till the end.
• Money management: always invest 3% - 7% of the capital (composite) per all trades, always risk (Stop Loss) 1% - 5% of the capital per all trades, and always trade high risk ratio trade at least 1/2.
• Period: long term.

 

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