AUD/USD Elliott wave count and Fibonacci levels for February 29, 2012

AUD/USD finished the downwave from 1.08944 to 1.0597 - this is corrective wave B of medium term uptrend (colored light green in the chart). Now potential impulse wave C is developing from 1.0597. Within this wave we have A, B, and C subwaves (colored magenta in the chart), and subwave C is still developing from 1.0650. The latter, by the way, also has three subwaves (colored red in the chart), with impulse subwave C still developing from 1.0728.

Now the targets above the current price level are Fibonacci expansions off 1.0597-1.0754-1.0650, 1.0650-1.0786-1.0728.

Resistances:

- 1.0864 = objective point (OP)
- 1.0904 = expanded objective point (XOP)

However if the price reverses to the downside and breaks below 1.0728, the immediate supports will be Fibonacci retracements of the wave up from 1.0650 - this wave is not developed yet, so no supports are available so far.

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Overbought/Oversold

The larger wave is now moving up, so it's prefereable to go long 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 possibilities to go long at or near the indicated supports.

 

AUD/USD Elliott wave count and Fibonacci levels for February 28, 2012

AUD/USD finished the downwave from 1.08944 to 1.0597 - this is corrective wave B of medium term uptrend (colored light green in the chart). Now potential impulse wave C is developing from 1.0597. Within this wave we have A, B, and C subwaves (colored red in the chart), and subwave C is still developing from 1.0650. The latter, by the way, also has three subwaves (colored yellow in the chart), with potential impulse subwave C still developing from 1.0743.

Now the targets above the current price level are Fibonacci expansions off 1.0597-1.0754-1.0650, 1.0650-1.0784-1.0743.

Resistances:

- 1.0807 = objective point (OP)
- 1.0826 = contracted objective point (COP)
- 1.0877 = OP

However if the price reverses to the downside and breaks below 1.0743, the immediate supports will be Fibonacci retracements of 1.0650-1.0784.

Supports:

- 1.0733 = .382 retracement
- 1.0717 = .50 ret
- 1.0701 = .618 ret

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Overbought/Oversold

The larger wave is now moving up, so it's prefereable to go long when the Detrended Oscillator goes below the zero level (15-20 pips below the current prices) or into the oversold area (35-50 pips below the current prices), watch for possibilities to go long at or near the indicated supports.

Read more on how to trade with Fibonacci levels.

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

AUD/USD is now developing corrective wave B of long term uptrend (colored light green in the chart) from 1.0844. Within this wave there are subwaves A, B, and C (colored royal blue in the chart) with subwave C still developing from 1.0815. This subwave was confirmed when the price broke below 1.0628 (top of wave A). However there are also smaller waves within the latter wave - they are A, and B that is now developing from 1.0597 (colored magenta in the chart). The latter contains A, and B as well (colored red in the chart).

Now the targets of the downmove are Fibonacci retracements of 1.0145-1.0844, 1.0597-1.0754, and expansions off 1.0844-1.0628-1.0815, 1.0815-1.0597-1.0754, 1.0754-1.0702-1.0748.

Supports:

- 1.0657 = .618 ret
- 1.0619 = contracted objective point (COP)
- 1.0612 = super expanded objective point (SXOP)
- 1.0599 = objective point (OP)
- 1.0577 = .382 retracement

If the price reverses to the upside the immediate resistances will be Fibonacci expansions of the wave 1.0597-1.0754 and its retracement - the retracement is not developed yet, so no resistances are available so far.

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Overbought/Oversold

The larger wave is now moving down, so it's prefereable to go short when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (25-40 pips above the current prices), watch for possibilities to go short at or near the indicated resistances.

Read more on how to trade with Fibonacci levels.

USD/CAD Elliott Wave Count for February 24, 2012

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Market Overview
The USD/CAD pair was trading in downward move yesterday, in the Asian session this major pair broke bottom channel line and stop at 50 EMA support, in the Europe session we could observe continuation of bearish mood and price reached new daily low at 0.9953 level.Price did not manage to hold this level in New York session and price started going higher to 0.9995 level.
Today in Asia we saw bullish mood and price is currently around 0.9983.We are expecting to see USD/CAD pair under 0.9920 .We need to take a look at USA New Home Sales today that could affect this pair.

Support and Resistance levels
(S3) 0.9917 (S2) 0.9940 (S1) 0.9955 (PP) 0.9979 (R1) 1.0002 (R2) 1.0017 (R3) 1.0041

USD/CAD Elliott Wave Analysis
The USD/CAD pair finished (2) wave at 1.0020, and we are currently in (3) wave.According to our wave rules and taking into consideration that wave (3) will finish around 161.8% of (1) wave, we can project our potential targets with Fibonacci extension(1.0050-0.9906-1.0019) to first take profit level at the 0.9875(100% of wave (1)) and second take profit at 0.9785(161.8% of wave (1)).For Stop Loss we can use end of wave (2)

Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why Short position at levels 0.9940 with Stop Loss at 1.0019, Take Profit 1 at 0.9875 and Take Profit 2 at 0.9785 are recommend

 

GOLD Intraday Technical analysis 2012-02-23

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The gold is currently testing the intermediate resistance of its medium term bullish channel in 1785 suggesting a decline. However a break of these levels would free a large potential and allow it to reach the upper limit of its channel to 1813.

Technical indicators do not provide sellers signals but evolve in overbought zone suggesting a decline in the short term. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1785 with a 1st objective of 1795, then 1798. A break in 1783 would invalidate this scenario.

GBP/JPY Elliott wave count and Fibonacci levels for February 22, 2012

GBP/JPY is developing impulse subwave C (colored royal blue in the chart) that is part of impulse wave A of a larger degree (colored light green in the chart) from 117.22. Within the former subwave there are also waves of a still smaller degree - they are A, B, and C (colored magenta in the chart), and subwave C is still developing from 121.62. Within C we have 1, 2, 3, and potential 4th subwave that is developing from 126.77 (colored red in the chart).

Now the targets of the upmove are Fibonacci expansions off 117.22-121.98-119.53, 119.53-123.11-121.62, 121.62-123.44-122.55, 122.55-126.77-125.59.

Resistances:

- 127.23-31-41 = confluence area of two expanded objective points (XOP), objective point (OP) and super expanded objective point (SXOP)
- 128.20 = contracted objective point (COP)

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 121.62-126.77.

Supports:

- 124.80 = .382 retracement
- 124.19 = .50 ret
- 123.59 = .618 ret

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Overbought/Oversold

The bigger wave is now moving up, so it's preferable to try long positions when the Detrended Oscillator goes below the zero level (25-30 pips below the current prices) or into the oversold area (50-65 pips below the current prices). Watch for opportunities to go long at or near the indicated supports.

Read more on how to trade with Fibonacci levels.

InstaForex

SILVER Intraday Technical analysis 2012-02-20

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The silver is currently testing the upper limit of its medium term bearish channel in 33.70. and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

Technical indicators don't give clears signals but approaching to the overbuy zone suggesting a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events, the market indicates a bullish opportunity as soon as the silver will have broken its resistance in 33.70 with a 1st objective of 34.30, then 34.50. A break in 33.50 would invalidate this scenario.
 

 

USD/CAD Elliott Wave Count for February 17, 2012

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Market Overview
The USD/CAD pair was trading in a upward move yesterday, in a Asian session this major pair reached a new high at the 1.0050 level.The USD/CAD pair did not manage to hold this level and price started falling rapidly in a News York session to 0.9953 level.Today in a early Asian session price continued to push in a bearish mood,We are expecting to see this major pair find support at 0.9950 and push above 1.0000 today.We need to take a look at USA and CAD Core CPI that could affect this pair.

Support and Resistance levels
(S3) 0.9892 (S2) 0.9929 (S1) 0.9952 (PP) 0.9990 (R1) 1.0027 (R2) 1.0050 (R3) 1.0088

USD/CAD Elliott Wave Analysis
The USD/CAD finished (1) wave of the bigger ii wave at 1.0051,We are currently at the end of (2) we are expecting to see end of this wave at 0.9950 where we can enter Long for (3) wave, According to our wave rules and taking into consideration that wave (3) will finish around 161.8% of wave (1) we can project our targets with Fibonacci extension(0.9938-1.0050-0.9950) to first take profit level at 1.0064(100% of wave (1)) and second take profit at 1.0135(161.8% of wave (1)),for stop loss we will use end of wave ii at 0.9938

Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the upward movement to go higher today. That is why Long position at levels 0.965 with Stop Loss at 0.9937, Take Profit at 1.0064 and Take Profit 2 at 1.0135 are recommended

 

EUR/JPY Elliott Wave Count for February 16, 2012

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Market Overview
The EUR/JPY pair was trading in a bullish mood for the last 10 days, yesterday in a European session after raising doubts about the Greek debt this major pair started falling under the 50 and 100 EMA support line and reached a new low few pips above the 200 EMA support around the 102.20 level.today in the early Asian session price continued a downward move to the 102.00 level slightly under 200 EMA support line. The EUR/JPY pair did not manage to hold this level and price started rising to 100 EMA Resistance, we are expecting to see price back to 102.00 before we can see price under the 101.50 level.

Support and Resistance levels
(S3) 101.41 (S2) 101.91 (S1) 102.22 (PP) 102.71 (R1) 103.21 (R2) 103.52 (R3) 104.01

EUR/JPY Elliott Wave Analysis

The EUR/JPY pair finished 5 waves in the i wave at 101.91, and started a new 3 wave correction in ii wave.According to our wave rules and taking into consideration that wave ii will retrace 61.8% or 78.6% of wave i we can project our targets with Fibonacci retracement(103.47-101.91) to first take profit level at 102.87(61.8% of wave i) and second take profit at 103.14(78.6% of wave i).For stop loss we can use end of wave i at 101.91.

Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the upward movement to go higher today. That is why Long position at levels 102.50 with Stop Loss at 101.91, Take Profit at 102.87 and Take Profit 2 at 103.14 are recommended

 

EUR/JPY Elliott Wave Count for February 15, 2012

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Market Overview
The EUR/JPY pair was trading in a upward move yesterday, in the early Asian session this major pair reached a new high above 50EMA resistance at the 102.50, in European and New York sessions the EUR/JPY pair continued a upward move to a new high at the 103.18 level.Today in the Asian session this major pair reached 2 months high at 103.47 and we are expecting to see the price back to 103.00 level today, France and German GDP showed better then expected but Greece is still making trouble for EURO stability , We need to take a look at EUR Flash GDP q/q that could affect this pair
Support and Resistance levels
(S3) 101.29 (S2) 101.81 (S1) 102.14 (PP) 102.66 (R1) 103.18 (R2) 103.51 (R3) 104.03
EUR/JPY Elliott Wave Analysis
The EUR/JPY pair is in (5) wave of the bigger (C) wave, We are expecting to see end of wave (C) around the 103.50 and 103.60 level.After Wave (C) is over we can go Short for i wave, According to wave rules we can expect to see wave i under the 102.00 level , we can use this level for our Take Profit projection today.For Stop Loss we can use 104.00 level
Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why Long position at levels 103.20 with Stop Loss at 104.00 and Take Profit at 102.00 are recommended

 

USD/CAD Intraday Technical Analysis and Trading Recommendations for February 14, 2012

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Looking at the USD/CAD daily chart, We find that the pair could successfully break a mid-term uptrend line extending since last August connecting multiple buttoms since then.

Recently after multiple days of indecision manifested in Doji daily candlesticks, the pair could establish a buttom at 0.9924 then we had a bullish engulfing daily candlestick last Friday.

This will probably end the bearish decline temporarily pushing the pair to the upside to retest area 1.0116-1.0165 corresponding to the broken uptrend line, Fibonacci levels 50% & the drawn downtrend line.

 

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Obvious bullish price action towards the support level 0.9942 is seen on the 4H chart which pushed the pair to the upside.

We see clear bullish breakout of the marked bearish channel which indicates direction change even on the short term.

Area 0.9970-0.9950 corresponds to the back side of the broken bearish channel & Fibonacci level 61.8% mentioned Yesterday acted as support for the pair.

After hiting the support area, the pair formed a buttom at 0.9970 then moved to the upside failing to break last Friday's high which brings the pair back to retest support area 0.9970-0.9950 or near it.

Break of the high recorded on last Friday at 1.0037 will open the way to 1.0116-1.0165 where price action should be watched then for a possible SHORT entry.

 

  

USD/CAD Elliott Wave Count for February 13, 2012

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Market Overview
The USD/CAD pair was trading in a bearish channel from December, in the early New York session after CAD trade balance showed 2,7b from expected 0,7b on Friday this major pair broke the upper channel line and reached a new high at the 1.0037 level.
The USD/CAD did not manage to hold this level and started falling a few pips above the 1.0000 level. Today in the early Asian session this major pair continued the downward movement, In the early European session this major pair found support at the 0.9970 level and started pushing higher. We are expecting to see the price back to 1.0100 today.

Support and Resistance levels
(S3) 0.9903 (S2) 0.9940 (S1) 0.9962 (PP) 0.9999 (R1) 1.0036 (R2) 1.0058 (R3) 1.0095

USD/CAD Elliott Wave Analysis
The USD/CAD pair finished 5 impulsive waves in the i wave at 1.0037 and wave ii at 0.9970 level, we are currently in iii wave, According to our wave rules and taking into consideration that the wave iii will finish between 100 or 161.8% of wave i ,we can project our targets with Fibonacci extension(0.0.9924-1.00379-0.9970) to the 1.0084(100% of wave i) and 1.0154(161.8% of wave i).

Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the upward movement to go higher today. That is why Long position at levels 1.0000 with Stop Loss at 0.9950 Take Profit at 1.0084 and Take Profit 2 at 1.0154 are recommended

 

InstaForex

USD/CAD Elliott Wave Count for February 10, 2012

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Market Overview
The USD/CAD pair started yesterday's trading day in a downward move, this major pair tested 100EMA support twice before we saw price above 0.9925 level. This major pair started pushing higher in New York session after good USA Unemployment Claims report 358k from 373k.Today in early Asian session aud/usd broke 50 and 100EMA resistance and started pushing to 0.9980 level. We are expecting to see above 1.0000 level today. We need to take a look at USA and CAD Trade Balance and USA Prelim UoM Consumer Sentiment that could affect this pair.

Support and Resistance levels
(S3) 0.9896 (S2) 0.9917 (S1) 0.9930 (PP) 0.9951 (R1) 0.9972 (R2) 0.9985 (R3) 1.0006

USD/CAD Elliott Wave Analysis
The USD/CAD pair finished wave c of the bigger wave (e) at 61.8% of wave a at 0.99251.We are currently in wave bigger wave (i),We are expecting to see end of wave i around 1.0000 and 1.0020 level where we can start shorting in ii wave.For Take Profits levels we will using 50 and 61.8% of wave i. We can measure this levels with Fibonacci retracement (0.9925-1.0020) to the 0.9970 (50% of wave i) and 0.9960 (61.8% of wave i). For stop loss we can use resistance level at 1.0045

Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why Short position at levels 1.0020 with Stop Loss at 1.0045, Take Profit at 0.9970 and Take Profit 2 at 0.9960 are

 

AUD/USD Elliott wave count and Fibonacci levels for February 9, 2012

AUD/USD is moving within impulse wave 5 of medium term uptrend (colored royal blue in the chart) that started from 1.0525. This wave consists of A and B subwaves, with subwave B still developing from 1.0844 (colored magenta in the chart).

The targets below are Fibonacci retracements of 1.0525-1.0844 (subwave A within wave 5).

Supports:

- 1.0722 = .382 retracement
- 1.0684 = .50 ret
- 1.0647 = .618 ret

However if the price reverses to the upside and breaks above 1.0844, the immediate resistances will be Fibonacci expansions off 1.0231-1.0687-1.0525, 1.0525-1.0844-1.0739.

Resistances:

- 1.0936 = contracted objective point (COP)
- 1.0981 = objective point (OP)
- 1.1058 = OP

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Overbought/Oversold

The larger wave is now moving up, so it's prefereable to open long positions when the Detrended Oscillator goes below the zero level (30-35 pips below the current prices) or into the oversold area (60-75 pips below the current prices), watch for possibilities of going long at or near the indicated supports.

Read more on how to trade with Fibonacci levels.

USD/CAD Elliott wave count for February 8, 2012

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Market Overview
The USD/CAD pair is trading in a medium term bearish channel, Yesterday this major pair started in a bullish mood reaching above 0.9970 level ,after Building Permits m/m show 11,1% from the last report where we got -2.6% USD/CAD pair started pushing in the downward movement to the 0.9940 level where this pair found support and pushed slightly higher in the end of trading day.Today USD/CAD continued to push in bearish mood, price is currently testing yesterday's resistance level at 0.9940, today we have Housing start report released by Canadian Mortgage and Housing Corporation that could affect this pair, if we see high reading we will have a confirmation that Bearish mood is not over.We expect to see USD/CAD at the next support level around 0.9850 before we can see any changing of the trend.

Support and Resistance levels
(S3) 0.9905 (S2) 0.9926 (S1) 0.9939 (PP) 0.9960 (R1) 0.9981 (R2) 0.9994 (R3) 1.0015
AUD/USD Elliott Wave Analysis
USD/CAD is currently in e wave of bigger (B) wave, when wave e is over we can expect big bullish move in this major pair,Wave e formed sub-waves A at 0.9926 and wave B at 0.9994, Concerning our wave rules and assuming that wave C will be equal to wave A we can project our target point with Fibonacci extension (1.0033-0.9926-0.9994) to the 0.9886 level for Take Profit 2 we can use channel line around 0.9840.For stop loss we can use end of wave B 0.9994
Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why SHORT position at levels 0.9930 with Stop Loss at 0.9994 ,Take Profit 1 at 0.9886 and Take Profit 2 at 0.9840 are recommended

InstaForex

GBP/JPY Elliott wave count and Fibonacci levels for February 7, 2012

GBP/JPY is now developing impulse subwave C (colored royal blue in the chart) that is part of impulse wave A of a larger degree (colored royal blue in the chart). Within the former subwave there are also waves of a still smaller degree - they are A, B and C (colored magenta in the chart), and subwave C is still developing from 120.16.

Now the targets of the upmove are Fibonacci retracements of 127.25-117.22, and expansions off 117.22-121.98-119.53, 119.53-121.16-120.42.

Resistances:

- 121.43 = contracted objective point (COP)
- 122.05 = objective point (OP)
- 122.24 = .50 ret
- 122.47 = COP

However, if the price reverses to the downside the immediate supports will be Fibonacci retracements of the wave up from 119.53 - this wave is not developed yet, so no supports are available so far.

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Overbought/Oversold

The bigger wave is now moving up, therefore it's preferable to try long positions when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (10-20 pips below the current prices).

Read more on how to trade with Fibonacci levels.

InstaForex

GBP/USD, Weekly and Monthly Pivot Point, For 06 - 10 February, 2012

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.
The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be given a notification beforehand concerning the market fluctuations as a rebound of the market or change of a trend.
If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

_____WEEKLY____
Weekly - R3 = 1.6141
Weekly - R2 = 1.6012
Weekly - R1 = 1.5912
Weekly Pivot = 1.5783
Weekly - S1 = 1.5683
Weekly - S2 = 1.5554
Weekly - S3 = 1.5454

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_____MONTHLY____
Monthly - R3 = 1.6520
Monthly - R2 = 1.6157
Monthly - R1 = 1.5958
Monthly Pivot = 1.5595
Monthly - S1 = 1.5393
Monthly - S2 = 1.5033
Monthly - S3 = 1.4834


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InstaForex

AUD/USD Elliott wave count and Fibonacci levels for February 3, 2012

AUD/USD is developing impulse wave 5 of medium term uptrend from 1.0525 (colored royal blue in the chart). Within this wave we have corrective subwave B that is developing from 1.0756 (colored magenta in the chart). And the latter in its turn has A, B, and C subwaves (colored yellow in the chart), and subwave C is still developing from 1.0746.

Now the targets of the downmove are Fibonacci retracements of 1.0525-1.0756 and expansions off 1.0756-1.0679-1.0746.

Supports:

- 1.0669-68 = confluence area of objective point (OP) and .382 retracement
- 1.0640 = .50 ret
- 1.0621 = expanded objective point (XOP)
- 1.0613 = .618 ret
- 1.0544 = super expanded objective point (SXOP)

But if the price breaks above 1.0756 the immediate resistances will be Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0687-1.0525.

Resistances:

- 1.0807 = contracted objective point (COP)
- 1.0838 = super expanded objective point (SXOP)

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Overbought/Oversold

The larger wave is now moving up, so it's prefereable to open long positions when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (30-45 pips below the current prices), watch for possibilities of going long at or near the indicated supports.

Read more on how to trade with Fibonacci levels.

InstaForex

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

AUD/USD broke above 1.0687 to continue the uptrend. Therefore corrective wave 4 (1.0687-1.0525 - colored royal blue in the chart) is over and now we have wave 5 that is developing from 1.0525. Inside this wave there are A, B and C subwaves (colored red in the chart), and subwave C is still developing from 1.0569.

The targets of the upmove are Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0687-1.0525, 1.0525-1.0684-1.0569.

Resistances:

- 1.0807 = contracted objective point (COP)
- 1.0826 = expanded objective point (XOP)
- 1.0838 = super expanded objective point (SXOP)

If the price reverses to the downside the immediate supports will be Fibonacci retracements of 1.0525-1.0756.

Supports:

- 1.0668 = .382 retracement
- 1.0640 = .50 ret
- 1.0613 = .618 ret

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Overbought/Oversold

The larger wave is now moving up, so it's prefereable to open long positions when the Detrended Oscillator goes below the zero level (current prices) or into the oversold area (20-35 pips below the current prices), watch for possibilities going short at or near the indicated supports.

Read more on how to trade with Fibonacci levels.

InstaForex

AUD/USD Elliott wave count and Fibonacci levels for February 1, 2012

AUD/USD has finished the whole wave from 1.0231 to 1.0687, according to wave count it is impulse wave 3 (colored royal blue in the chart), and now potential corrective wave 4 is developing against the uptrend from 1.0687. Within this wave we have three subwaves (colored red in the chart) - A, B, and potential C. Subwave C will be confirmed when the price breaks below 1.0525 - top of subwave A.

Now the targets below are Fibonacci retracements of 1.0231-1.0687, and expansions off 1.0687-1.0525-1.0684.

Supports:
- 1.0522 = objective point (OP)
- 1.0513 = .382 retracement
- 1.0459 = .50 ret
- 1.0422 = expanded objective point (XOP)
- 1.0405 = .618 ret

However if the price breaks above 1.0687 to continue the uptrend the immediate resistances will be Fibonacci expansions off 1.0145-1.0377-1.0231, 1.0231-1.0687-1.0525.

Resistances:

- 1.0807 = contracted objective point (COP)
- 1.0838 = super expanded objective point (SXOP)
- 1.0981 = OP

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Overbought/Oversold

The larger wave is now moving down, so it's prefereable to open short positions when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (35-50 pips above the current prices).

Read more on how to trade with Fibonacci levels.

InstaForex