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USD/CHF Wave Analysis. Weekly Forecast

2012-11-12 14:44:50 (читать в оригинале)

Wave Analysis:

Despite the attempts that were made to complete the ascending move during the previous week, the USD/CHF pair continued growth and worked out the estimated level of correction 38.2% on Friday. Thus, the whole rate’s growth starting from the low of October 16 looks like a completed correctional structure in the abc waves structure at the moment. Meanwhile, if the pair is not able to resume a downtrend from the Friday’s high, then it is most probable that the price will reach targets placed near the level of figure 96.

Targets for Wave 3 or C of Uptrend:

 

0.9529 – 127.2% of Fibonacci
0.9598 – 161.8% of Fibonacci

 

Targets for New Down Wave after Wave 3 or C:

 

0.9372 – 23.6% of Fibonacci
0.9277 – 11.4% of Fibonacci

 

Summary and Trading Recommendations:

Last week the pair continued to be on the upswing. It means the building of an uptrend; probably it is a correctional one. Next week there may be a rise towards the levels of 0.9529 and 0.9598, which is corresponding to 127.2% and 161.8% of Fibonacci. After this wave is built, a new down wave may start; we cannot say at the moment which one will it be. It will have targets at 0.9372 and 0.9277, which is corresponding to 23.6% and 11.4% of Fibonacci. The break of the downtrend indicated that the pair is about to begin an uptrend.

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

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USD/CAD Intraday Technical Analysis and Trading Recommendations for November 12, 2012

2012-11-12 14:07:12 (читать в оригинале)

 

The pair has been trending down when a bullish breakout above the bearish daily channel took place. However, the potential downside move remains valid as long as the pair is trading below 1.0040 and below 1.0000 area, the psychological resistance.
On Friday, the USD/CAD pair expressed strong bearish reaction towards 1.0020, shortly after the USD/CAD pair reached down to 0.9880 which corresponds to 50% Fibonacci Level.
Price zone 0.9880-09845 (Important Fibonacci Levels) provided strong support expressing strong bullish price action which is manifest on the daily chart.
This allowed the USD/CAD pair to initiate a bullish move towards 1.0025 corresponding to the upper limit of the bullish channel depicted on the charts. However, the bearish reaction suggests a coming bearish movement, which needs 0.9980 to be broken down early today.


Support: 0.9970, 0.9925, and 0.9875.
Resistance: 0.9990,1.0010, and 1.0040.

• Recommendation  

Price Action towards the price zone 1.0025 - 1.0040 should be watched carefully for a possible valid SELL entry with SL located above 1.0060.
Obvious breakdown below 0.9980 supports the bearish scenario in the short-term targeting 0.9900 initially.  

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

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GBP/USD Intraday Technical Analysis and Trading Recommendations for November 12, 2012

2012-11-12 14:04:42 (читать в оригинале)

 

The GBP/USD pair has been fluctuating heavily within the past few weeks after the broken DAILY bullish channel was retested around the price zone of 1.6160 - 1.6180, failing to maintain a directional trend.
The false breakout above the short-term descending resistance depicted on the 4H chart was maintained at Daily Resistance Level 1.6160. It activated the bearish scenario, which anticipates further downside pressure this week, possibly towards 1.5850 initially supported by the breakdown below 50% Fibonacci (1.5930) that took place on Friday.
The GBP/USD pair has been trapped within narrow consolidation range 1.6025 - 1.5925. It was broken with a potential target near price level of 1.5770.
Consolidation below the Intraday Support Price Level 1.5900 is necessary to maintain the bearish movement.

Support: 1.5880, 1.5780.
Resistance: 1.5920, 1.5950, 1.6030 

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

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USD/CAD Wave Analysis for November 12, 2012

2012-11-12 13:58:02 (читать в оригинале)

USD/CAD Elliott Wave
Since our last analysis the USD/CAD pair was trading in an upward move, corrective C wave (coloured blue) of the bigger wave (B) (coloured green) was developing. During the Friday's Asian session we could observe descending movement from 1.0010 towards the 0.9982 level. Therefore, during the European and New York sessions the USD/CAD pair did not manage to hold this level and the price started pushing higher reaching a new daily high at 1.0032 level. We can consider this move as the end of (B) wave (coloured green). Today this major pair is trading around 0.9990 level and we are expecting to see the price around 0.9951 level soon. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.9951 (161.8% of wave 1). To reduce the risk, we can use resistance at 1.0017 level as stop loss.

Support and Resistance
(S3) 0.9958 (S2) 0.9977 (S1) 0.9990 (PP) 1.0009 (R1) 1.0028 (R2) 1.0041 (R3) 1.0060

Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9980 with stop loss 1.0017 and take profit  at 0.9951 are recommended.
 

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

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USD/JPY Wave Analysis for November 12, 2012

2012-11-12 13:56:22 (читать в оригинале)

USD/JPY Elliott Wave
Last week the USD/JPY pair was trading in a downward move, impulsive 3 wave (coloured blue) of the bigger wave (A) (coloured green) was developing. During the Friday's Asian and European sessions we could observe descending movement from 79.60 towards the 79.07 level and we can consider this move as the end of the impulsive (3) wave (coloured purple). Therefore, during the New York session the USD/JPY pair did not manage to hold this level and the price retraced back to 79.53 level. At the moment this major pair is trading around 79.40 level and we are expecting to see the price around 79.00 level today. In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 79.06 (78.6% of wave 1). To reduce the risk, we can use invalidation at 79.80 level as stop loss.

Support and Resistance
(S3) 78.84 (S2) 79.05 (S1) 79.17 (PP) 79.38 (R1) 79.59 (R2) 79.71 (R3) 79.92

Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short  positions at level 79.40 with stop loss 79.80 and take profit at 79.06 are recommended.
 

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