AUD/USD Elliott wave count and Fibonacci levels for January 31, 2012

AUD/USD has finished corrective subwave B (colored red in the chart) at 1.0525 (.618 retracement of subwave A), and now is developing potential impulse subwave C that is part of impulse wave C of a larger degree (colored magenta in the chart) that started from 1.0427.

Now the targets above the current price are Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0573-1.0427, 1.0427-1.0687-1.0525.

Resistances:

- 1.0686 = contracted objective point (COP)
- 1.0769 = objective point (OP)
- 1.0785 = OP
- 1.0838 = SXOP

However if the price reverses down for a corrective wave of larger degree the immediate supports will be Fibonacci retracements of 1.0427-1.0687, 1.0231-1.0687.

Supports:

- 1.0526 = .618 retracement
- 1.0513 = .382 ret
- 1.0459 = .50 ret
- 1.0405 = .618 ret

Show full picture
Overbought/Oversold

The larger wave is still moving up, so it's prefereable to open longs when the Detrended Oscillator goes below the zero level (5-10 pips below the current prices) or into the oversold area (30-45 pips below the current prices).

Read more on how to trade with Fibonacci levels.

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 30, 2012

AUD/USD has reversed for a correction of impulse wave C of medium term uptrend (colored magenta in the chart) that started from 1.0427. This wave, however, is part of impulse wave C of a larger degree (colored royal blue in the chart) that started from 1.0231.

As far as the corrective move goes, its targets are Fibonacci retracements of 1.0231-1.0687, 1.0427-1.0687, and expansions off 1.0687-1.0591-1.0669, 1.0669-1.0596-1.0666.

Supports:

- 1.0557 = .50 retracement
- 1.0548 = expanded objective point (XOP)
- 1.0526 = .618 ret
- 1.0514-13 = confluence area of .382 ret andXOP
- 1.0475 = super expanded objective point (SXOP)

However if the price breaks above 1.0687 to continue the uptrend we'll calculate the resistances using Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0573-1.0427.

Resistances:

- 1.0769 = objective point (OP)
- 1.0838 = SXOP

Show full picture
Overbought/Oversold

The larger wave is still moving up, so it's prefereable to open longs when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (15-30 pips below the current prices).

Read more on how to trade with Fibonacci levels.

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 27, 2012

AUD/USD is trading within impulse wave C of medium term uptrend (colored royal blue in the chart) that started from 1.0231. Within this wave we have the following subwaves: A, B and C (colored magenta) with subwave C still developing from 1.0427. And on still smaller scale the latter subwave has its A and B subwaves (colored red in the chart) with subwave still developing from 1.0687.

Now the targets above 1.0687 are Fibonacci expansions 1.0145-1.0377-1.0231, 1.0231-1.0573-1.0427, 1.0427-1.0687-1.0591.

Resistances:

- 1.0752 = contracted objective point (COP)
- 1.0769 = objective point (OP)
- 1.0838 = super expanded objective point (SXOP)
- 1.0851 = OP

However if the price reverses to the downside the immediate supports will be Fibonacci retracements of 1.0231-1.0687, 1.0427-1.0687.

Supports:

- 1.0557 = .50 retracement
- 1.0526 = .618 ret
- 1.0513 = .382 ret
- 1.0459 = .50 ret

Show full picture
Overbought/Oversold

The larger wave is still going up, that's why it's prefereable to open longs when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (20-30 pips below the current prices).

Read more on how to trade with Fibonacci levels.

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for January 26, 2012

GBP/JPY has developed five waves of medium term uptrend (colored red in the chart). The whole 5-wave cycle started from 117.22 and may end at 121.98. However if the price breaks above 121.98, we'll have an extension - in this case a new A-B-C cycle will be moving from 119.58 (this is the base of wave 5). Now the targets above are Fibonacci retracements of 127.25-117.22, and expansions off 117.49-120.14-119.58 (these are waves 3 and 4), and 119.58-121.98-121.16.

Resistances:

- 122.23-24 = confluence area of objective point (OP) and .50 retracement
- 122.64 = contracted objective point (COP)
- 123.42 = .618 ret
- 123.56 = OP
- 123.87 = expanded objective point (XOP)

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 117.22-121.98, and expansions off 121.98-121.16-121.78.

Supports:

- 121.27 = COP
- 120.96 = OP
- 120.45 = XOP
- 120.16 = .382 ret

Show full picture

Overbought/Oversold

The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (current prices).

Read more on how to trade with Fibonacci levels.

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 25, 2012

Below 1.0573 AUD/USD is developing corrective subwave B (colored magenta in the chart), that is part of impulse wave C of medium term uptrend (colored royal blue in the chart) from 1.0231. Wave C will continue if the price breaks above 1.0573, otherwise its end is at 1.0573.

As far as the corrective subwave is concerned, its targets below are Fibonacci retracements of 1.0231-1.0573.

Supports:

- 1.0442 = .382 retracement
- 1.0402 = .50 ret
- 1.0362 = .618 ret

But if the price keeps moving up and breaks above 1.0573, the targets above will be Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0573-1.0427, 1.0427-1.0494-1.0446.

Resistances:

- 1.0554 = expanded objective point (XOP)
- 1.0606 = XOP
- 1.0621 = super expanded objective point (SXOP)
- 1.0638 = contracted objective point (COP)

Show full picture
Overbought/Oversold

The larger wave is still going up, that's why it's prefereable to open longs when the Detrended Oscillator goes below the zero level (10-15 pips below the current prices) or into the oversold area (30-40 pips below the current prices).

Read more on how to trade with Fibonacci levels.

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for January 24, 2012

GBP/JPY is now developing potential corrective subwave 4 from 120.14 (colored red in the chart) that is part of impulse wave A of larger degree (colored light green in the chart) from 117.22.

The downwave has the following targets: Fibonacci retracements of 117.22-120.14, 117.49-120.14 (subwave 3).

Supports:

- 119.13 = .382 retracement
- 119.02 = .382 ret
- 118.82 = .50 ret
- 118.68 = .50 ret
- 118.50 = .618 ret
- 118.34 = .618 ret

However if the price breaks above 120.14 to continue subwave 5, we'll have the following resistances as targets: Fibonacci retracements of 127.25-117.22, 122.71-117.22.

Resistances:

- 120.61 = .618 ret
- 121.05 = .382 ret
- 121.54 = .786 ret

Show full picture
Overbought/Oversold

The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (10-20 pips below the current prices). Watch for entries long at or near the indicated Fibonacci supports.

Read more on how to trade with Fibonacci levels.

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 23, 2012

AUD/USD broke the upper border of the range (1.0449) to continue the uptrend. According to wave count we have wave C of medium term uptrend developing from 1.0231 (colored royal blue in the chart), and there's a variety of subwaves within this wave. There are A, B and C subwaves (colored magenta in the chart) with subwave C still developing from the lower border of the range - 1.0354. Inside this subwave there are waves of still smaller degree - impulse subwave C is developing from 1.0370 (colored red in the chart).

The targets of the upmove are Fibonacci expansions off A-B waves and subwaves: 1.0145-1.0377-1.0231, 1.0231-1.0449-1.0354, and 1.0354-1.0436-1.0370, 1.0370-1.0433-1.0382, 1.0382-1.0493-1.0458.

Resistances:

- 1.0503 = expanded objective point (XOP)
- 1.0527 = contracted objective point (COP)
- 1.0547 = super expanded objective point (SXOP)
- 1.0569-72 = confluence area of two objective points (OP)

But if the price reverses to the downside the immediate supports will be Fibonacci retracements of the wave up from 1.0354 - this wave is not developed yet, so no supports are available so far.

Show full picture
Overbought/Oversold

The larger wave is still going up, that's why it's prefereable to open longs when the Detrended Oscillator goes below the zero level (20-25 pips below the current prices) or into the oversold area (35-45 pips below the current prices).

Read more on how to trade with Fibonacci levels.

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 20, 2012

Today AUD/USD is trading in a narrow flat, but according to wave count we have the following waves and subwaves:

There's wave C of medium term uptrend, that is developing from 1.0231 (colored magenta in the chart). And within this wave there's potential impulse subwave C that started from 1.0364 (colored red in the chart). And inside this wave there's subwave C that is developing from 1.0370 (colored orange red in the chart).

The targets above are Fibonacci expansions off 1.0145-1.0377-1.0231 (the magenta A-B waves), 1.0231-1.0449-1.0354 (the red A-B waves), and 1.0354-1.0436-1.0370 (the orange red ones).

Resistances:

- 1.0452 = objective point (OP)
- 1.0463 = OP
- 1.0489 = contracted objective point (COP)
- 1.0503 = expanded objective point (XOP)
- 1.0572 = OP
- 1.0606 = XOP

But if the price keeps declining and breaks below 1.0370, the targets below will be Fibonacci retracements of 1.0145-1.0449, 1.0231-1.0449, and expansions off 1.0449-1.0354-1.0436.

Immediate supports:

- 1.0341-40 = confluence area of objective point (OP) and .50 retracement
- 1.0333 = .382 ret
- 1.0314 = .618 ret
- 1.0297 = .50 ret
- 1.0282 = expanded objective point (XOP)
- 1.0261 = .618 ret

Show full picture
Overbought/Oversold

The larger wave is still going up, that's why we'd better open longs when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (15-25 pips below the current prices).

Read more on how to trade with Fibonacci levels.

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for January 19, 2012

At 117.22 GBP/JPY ended the whole wave from 122.71 - this is wave C of medium tern downtrend colored light green in the chart. Within the potential corrective wave 4 that is going up we have three subwaves - they are A, B and C colored red in the chart. Subwave C is still developing from 117.49. The targets now are Fibonacci retracements of 122.71-117-22, and expansions off 117.22-118.21-117.49.

Resistances:

- 119.09 = expanded objective point (XOP)
- 119.32 = .382 retracement
- 119.97 = .50 ret
- 120.08 = super expanded objective point (SXOP)

But if the price reverses to the downside the immediate supports will be Fibonacci retracements of 117.49-118.58, and 117.22-118.58.

Supports:

- 118.16 = .382 ret
- 118.06-04 = confluence area of .382 and .50 retracements
- 117.91-91 = confluence area of .618 and .50 retracements
- 117.74 = .618 ret

Show full picture

Overbought/Oversold

The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator gets below the zero level (current prices) or into the oversold area (15-25 pips above the current prices). Watch for entries long at or near the indicated Fibonacci supports.

Read more on how to trade with Fibonacci levels.

 

GBP/JPY Elliott wave count and Fibonacci levels for January 18, 2012

On Tuesday GBP/JPY slightly broke above previous resistance 118.13 - only to form subwave C (colored yellow in the chart) within wave A of bigger degree (colored orange red in the chart). Now we have subwave B developing from 118.21, that is part of wave B of larger degree developing from 117.22.

However if the price breaks below 117.22 - we'll have wave C from 118.21, that will be part of wave C of still larger degree, that is developing from 119.05 (this one is colored royal blue in the chart). In this case the targets below will be Fibonacci expansions off 122.71-118.20-119.05, 120.14-118.20-119.05, 119.05-117.22-118.21.

Supports:

- 117.11-08 = confluence area of objective point (OP) and contracted objective point (COP)
- 116.38 = OP
- 116.26 = COP
- 115.91 = expanded objective point (XOP)

But if the corrective wave resumes and the price keeps moving up we'll have the following resistances as targets - retracements of 119.05-117.22:

- 118.35 = .618 retracement
- 118.66 = .786 ret

Show full picture
Overbought/Oversold

The bigger wave is now moving down, therefore it's preferable to try short positions when the Detrended Oscillator gets above the zero level (15-20 pips above the current prices) or into the overbought area (35-45 pips above the current prices). Watch for entries short at or near the indicated Fibonacci resistances.

Read more on how to trade with Fibonacci levels.

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for January 17, 2012

The pair is now trading in a narrow flat that according to wave count is subwave B (colored magenta in the chart - started at 117.22) of impulse wave C (colored royal blue in the chart - started at 119.05). Within the corrective wave B we have subwaves A, B, and C (colored yellow in the chart), with subwave C still developing from 117.31. Since the flat is very narrow we can expect a sharp break through either to bullish or to bearish side. Bearish is preferable since we're in a downtrend. In this case we'll have subwave C (the magenta wave) in impulse wave C (the royal blue one).

The targets below will be Fibonacci expansions off 120.14-118.20-119.05, 122.71-118.20-119.05.

Supports:

- 117.11 = objective point (OP)
- 116.26 = contracted (COP)
- 115.91 = expanded objective point (XOP)

If the corrective wave up resumes the immediate resistances will be Fibonacci retracements of 119.05-117.22, and expansions off A and B subwaves (the yellow ones) 117.22-117.88-117.31.

Resistances:

- 117.92-97 = confluence area of .382 retracement and OP
- 118.18 = .50 ret
- 118.35-38 = .618 ret and XOP
- 118.66 = .786 ret

Show full picture
Overbought/Oversold

The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator gets above the zero level (5-10 pips above the current prices) or into the overbought area (20-30 pips above the current prices). Watch for entries short at the indicated Fibonacci resistances.

Read more on how to trade with Fibonacci levels.

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for January 16, 2012

GBP/JPY is moving within impulse wave C of medium term downtrend (colored light green in the chart) that started from 122.71, and inside this wave there are three subwaves (colored royal blue in the chart), and impulse subwave C is still moving from 119.05. This wave has been confirmed as it broke below the top of wave A - 118.20.

The immediate supports are Fibonacci expansions off 120.14-118.20-119.05, 122.71-118.20-119.05, 119.05-117.45-118.13.

Supports:

- 117.14-11 = confluence area of contracted objective point (COP)
- 116.53 = objective point (OP)
- 116.26 = COP
- 115.91 = expanded objective point (XOP)

If the price reverses to the upside the targets above will be Fibonacci retracements of 119.05-117.22.

Resistances:

- 117.92 = .382 retracement
- 118.13 = .50 ret
- 118.35 = .618 ret
- 118.66 = .786 ret

Show full picture

Overbought/Oversold

The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (10-20 pips above the current prices).

Read more on how to trade with Fibonacci levels.

 

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 13, 2012

AUD/USD is now moving within wave A of medium term downtrend that started from 1.0386 (colored light green in the chart), and now may be coming to an end, since the price is close to its base 1.0386. On smaller scale there are A and B subwaves (colored magenta in the chart), with subwave B still developing from 1.0145. If the price breaks above 1.0386 this wave will become subwave A (instead of B in the downtrend).
Now the targets of the upmove are Fibonacci expansions off 1.0044-1.0386-1.0145, 1.0145-1.0351-1.0262, 1.0262-1.0377-1.0289.
Resistances:
- 1.0360 = contracted objective point (COP)
- 1.0389 = COP
- 1.0404 = objective point (OP)
- 1.0468 = OP
- 1.0475 = expanded objective point (XOP)
- 1.0487 = OP
If the price reverses to the downside the immediate supports will be Fibonacci retracements 1.0145-1.0377, and expansions off 1.0386-1.0145-1.0377, 1.0377-1.0289-1.0345.
Supports:
- 1.0291 = COP
- 1.0288 = .382 retracement
- 1.0261-57 = confluence area of .50 ret and OP
- 1.0234-28 = confluence area of .618 ret and COP
- 1.0203 = XOP
.

Overbought/Oversold

The larger wave is moving down (until 1.0386 is broken to the upside), therefore it's preferable to try short positions when the Detrended Oscillator goes above the zero level (10-15 pips above the current prices) or into the overbought area (30-40 pips above the current), watch for entries short at or near the indicated resistances.

Read more on how to trade with Fibonacci levels.

 

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 12, 2012

AUD/USD is now moving within wave A of medium term downtrend that started from 1.0386 (colored light green in the chart). On smaller scale inside this wave there are A and B subwaves (colored magenta in the chart), with subwave B still developing from 1.0145. Subwave C of still smaller degree (colored red in the chart) is developing from 1.0262.
The targets below are Fibonacci retracements of 1.0145-1.0351, and expansions off 1.0386-1.0145-1.0351, 1.0351-1.0262-1.0316.
Supports:
- 1.0261 = contracted objective point (COP)
- 1.0248 = .50 ret
- 1.0227-24 = confluence area of objective point (OP) and .618 ret
- 1.0202 = contracted objective point (COP)
- 1.0189 = .786 ret
- 1.0172 = expanded objective point (XOP)
- 1.0110 = objective point (OP)
If the pair reverses to the upside and breaks above 1.0351 the immediate resistances will be Fibonacci expansions off 1.0044-1.0386-1.0145, 1.0145-1.0351-1.0262.
Resistances:
- 1.0356 = COP
- 1.0389 = COP
- 1.0468 = OP
- 1.0487 = OP

Overbought/Oversold

The larger wave is moving down, therefore it's preferable to try short positions before 1.0351 is broken to the upside and when the Detrended Oscillator goes above the zero level (5-10 pips above the current prices) or into the overbought area (30-40 pips above the current), watch for entries short at or near the indicated resistances.

Read more on how to trade with Fibonacci levels.

 

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 11, 2012

AUD/USD is developing wave A of medium term downtrend from 1.0386 (colored light green in the chart). Inside this wave there are A and B subwaves (colored magenta in the chart), with subwave B still developing from 1.0145. Subwave B of still smaller degree (colored red in the chart) is developing from 1.0351.
The targets below are Fibonacci retracements of 1.0145-1.0351, and expansions off 1.0386-1.0145-1.0351.
Supports:
- 1.0272 = .382 retracement
- 1.0248 = .50 ret
- 1.0224 = .618 ret
- 1.0202 = contracted objective point (COP)
- 1.0189 = .786 ret
- 1.0110 = objective point (OP)
If the reverses to the upside and starts advancing the immediate resistances will be Fibonacci expansions off 1.0044-1.0386-1.0145.
Resistances:
- 1.0356 = COP
- 1.0487 = OP

Overbought/Oversold

The larger wave is going down, therefore it's preferable to try short positions before 1.0351 is broken to the upside and when the Detrended Oscillator goes above the zero level (10-15 pips above the current prices) or into the overbought area (35-50 pips above the current), watch for entries short at or near the indicated resistances.

Read more on how to trade with Fibonacci levels.

 

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for January 10, 2012

GBP/JPY is developing impulse wave C of medium term downtrend (colored light green in the chart) from 122.71, and within this wave we have three subwaves (colored magenta in the chart), and potential corrective subwave 4 that is developing against the downtrend from 118.20.

The resistances above are Fibonacci retracements of 120.14-118.20, 119.68-118.20, and expansions off 118.20-118.81-118.47.

Resistances:

- 118.85 = contracted objective point (COP)
- 118.94 = confluence area of .382 and .50 retracements
- 119.08-11 = confluence area of objective point (OP) and .618 retracement
- 119.17 = .50 ret
- 119.36 = .786 ret

If the price keeps declining the immediate supports will be Fibonacci expansions off 127.25-119.31-122.71, 122.71-118.94-120.14, 120.14-119.12-119.68.

Supports:

- 118.03 = expanded objective point (XOP)
- 117.81-80 = confluence area of two contracted objective points (COP)
- 117.01 = super expanded objective point (SXOP)
- 116.37 = objective point (OP)

Overbought/Oversold

The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (15-30 pips above the current prices).

http://instaforex.com/forex_analysis/47777/?x=OUE

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for January 9, 2012

GBP/JPY is still moving within impulse wave C of medium term downtrend (colored light green in the chart) from 122.71, and in this wave there are three subwaves (colored magenta in the chart) with impulse subwave C still developing from 120.14.

The targets of the decline are Fibonacci expansions off 127.25-119.31-122.71, 122.71-118.94-120.14, 120.14-119.12-119.68.

Supports:

- 118.03 = expanded objective point (XOP)
- 117.81-80 = confluence area of two contracted objective points (COP)
- 117.01 = super expanded objective point (SXOP)
- 116.37 = objective point (OP)

If the price keeps advancing the immediate resistances will be Fibonacci retracements of 120.14-118.20.

Resistances:

- 118.94 = .382 retracement
- 119.17 = .50 ret
- 119.40 = .618 ret

Show full picture
Overbought/Oversold

The bigger wave is now moving down, so it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (20-30 pips above the current prices).

Read more on how to trade with Fibonacci levels.

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for January 6, 2012

GBP/JPY is still developing impulse wave C of medium term downtrend (colored light green in the chart) from 122.71, and within this wave we have corrective subwave B (colored magenta in the chart), that is developing from 118.94. The targets of the potential corrective wave up are fibonacci retracements of 122.71-118.94.

Resistances:

- 120.38 = .382 retracement
- 120.82 = .50 ret
- 121.27 = .618 ret
- 121.90 = .786 ret

However if the price reverses to the downside from 120.14 and breaks below 118.94, the immediate supports will be Fibonacci expansions off 127.25-119.31-122.71, 122.71-118.94-120.14.

Supports:

- 117.81-80 = confluence area of two contracted objective points (COP)
- 116.37 = objective point (OP)

Overbought/Oversold

Assuming that the major wave is now moving down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (20-30 pips above the current prices).

Read more on how to trade with Fibonacci levels.

 

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 5, 2012

Roman Molodiashin

Wave analysis


AUD/USD is trading within impulse wave C of medium term uptrend from 0.9861 (colored light green in the chart). In this wave we have A, B and C subwaves (colored royal blue in the chart), subwave C is developing from 1.0044. Within the latter C there are A and B subwaves (colored magenta in the chart). And the targets of the downmove are Fibonacci retracements of 1.0044-1.0386, 1.0197-1.0386, and expansions off 1.0386-1.0304-1.0372.
Immediate supports:
- 1.0292-90 = confluence area of .50 retracement and objective point (OP)
- 1.0269 = .618 ret
- 1.0255 = .382 ret
- 1.0239 = expanded objective point (XOP)
- 1.0215 = .50 ret
If the price breaks above 1.0386 and continues moving upwards, the immediate resistances will be Fibonacci expansions off 0.9663-1.0379-0.9861, 0.9861-1.0218-1.0044, 1.0044-1.0386-1.0304.
Resistances:
- 1.0401 = objective point (OP)
- 1.0515 = contracted objective point (COP)
- 1.0577 = OP

Overbought/Oversold

Since the larger wave is now moving up, it's preferable to try long positions until the price breaks below 1.0304 and when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (20-30 pips below the current prices), watch for entries long at or near the indicated supports.

http://instaforex.com/forex_analysis/47451/?x=OUE

InstaForex

Wave Analysis of USD/JPY for January 4, 2012

Wave analysis

Alexander Dneprovskiy

Wave marking analysis:
As expected, during the yesterday’s trading session the USD/JPY pair was declining and in the second half of the day it managed to hit the target placed at 76.65. Meanwhile the dynamics of this downside motion provides grounds for assuming its possible transformation into a full scale five-wave structure. At the same time it should be stated that as the control level which corresponds to the November low of 76.55 has not been broken, the declining section that had been formed after December 23 can still be considered a correction inside the waves �b� with a considerable prolongation in the wave c. Nevertheless, the MACD being on the positive side suggests beginning of a dynamic retrace of the pair in favour of the dollar.

Targets for c-wave option:
76.55 – minimum of November 2011

Targets for upside movement renewal option:
77.19 – 61.8% Fibo
77.40 – 50.0% Fibo

Ideas and trading recommendations:
The current movement can be seen as a correction versus the motion of November 18. The target of a decline within the framework of a series of waves a-b-c is the level 76.55, and price movement below this level will need reconsideration of a wave marking. A rather non-logical strong downfall points at bearish market. Though from the viewpoint of wave analysis it is very problematic to forecast the long-term prospects as well as mark the waves in midterm prospect. Often non-standard correctional structures do not add optimism to the pair trade.
Oversold stochastic suggests a possible rebound of the pair to the upside within the nearest future in the direction of 76.94 and 77.19.

http://instaforex.com/forex_analysis/47395/?x=OUE

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for January 3, 2012

Wave analysis

Roman Molodiashin

GBP/JPY is moving down within impulse wave C (colored light green in the chart) from 122.71. Within this wave we have five subwaves (colored red in the chart), and subwave 5 is developing from 119.99. The immediate supports are Fibonacci expansions off 127.25-119.31-122.71, 122.71-121.54-122.21, 122.21-119.21-119.99.

Supports:

- 118.14 = contracted objective point (COP)
- 117.80 = COP
- 116.99 = objective point (OP)

If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 122.71-118.94.

Resistances:

- 120.38 = .382 retracement
- 120.82 = .50 ret
- 121.27 = .618 ret

Overbought/Oversold

Assuming that the major wave is now moving down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (current prices) or into the overbought area (15-20 pips above the current prices), watch for entries short at the indicated resistances.

http://instaforex.com/forex_analysis/47253/?x=OUE

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for January 2, 2012

Wave analysis

Roman Molodiashin

AUD/USD broke above 1.0218 and is developing potential wave C of medium term uptrend from 0.9861 (colored light green in the chart), this wave will be confirmed when the price breaks above 1.0379. On smaller timeframes this wave has three subwaves - A, B and C (colored royal blue in the chart), and subwave C is still developing from 1.0044. The tragets of the upmove are Fibonacci expansions off 0.9663-1.0379-0.9861, 0.9861-1.0218-1.0044.
Resistances:
- 1.0265 = contracted objective point (COP)
- 1.0303 = COP
- 1.0401 = objective point (OP)
If the price continues its decline the immediate supports will be Fibonacci retracements of 1.0044-1.0268.
Supports:
- 1.0182 = .382 retracement
- 1.0145 = .50 ret
- 1.0130 = .618 ret

Overbought/Oversold

Assuming that the larger wave is now moving up, it's preferable to try long positions until the price breaks below 1.0138 and when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (20-30 pips below the current prices), watch for entries long at or near the indicated supports.

http://instaforex.com/forex_analysis/47153/?x=OUE

InstaForex