NDelic Posted July 10, 2012 Share Posted July 10, 2012 AUD/USD Elliott Wave Last Friday the AUD/USD pair was trading in a downward move developing corrective wave 2 (coloured blue) of the bigger (3) wave (coloured green). During the Asian and European sessions, we could observe descending movement towards the new daily low of 1.0240. Therefore, during the early New York session, the AUD/USD pair continued trading in a bearish mood and price reached a new daily low at 1.0178 level. Today we could observe the price trading around 1.0170 and we are expecting to see the price around 1.0110 level. In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci Retracements (0.9968-1.0328) with Take Profit at 1.0106(61.8% of wave 1). Resistance point at 1.0242 can be used as a Stop Loss point. Support and Resistance Levels (S3) 1.0114 (S2) 1.0157 (S1) 1.0184 (PP) 1.0227 (R1) 1.0270 (R2) 1.0297 (R3) 1.0340 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why short positions at level 1.0160 with Stop Loss at 1.0242 and Take Profit at 1.0106 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 10, 2012 Author Share Posted July 10, 2012 GBP/JPY Elliott Wave Last week the GBP/JPY pair was trading in a downward channel developing impulsive wave 3 (coloured blue) of the bigger (3) wave (coloured green). During the Friday's European session we could observe an ascending move from 123.73 towards the 124.21 level. Therefore, during the New York session, the GBP/JPY pair did not manage to hold this level and we could observe continuation of the bigger bearish mood. Today during the Asian, session this exotic currency reached a new 6 days low at 122.91 level and we can consider this move as the end of the wave 3 (coloured blue). At the moment, the GBP/JPY pair is developing a corrective wave 4 and we are expecting to see the bearish mood again within this pair soon. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (125.78-122.81-125.43) with Take Profit 1 at 122.52 (100% of wave 1) and Take Profit 2 at 120.69 (161.8% of wave 1). Invalidation point at 124.29 can be used as a Stop Loss point. Support and Resistance Levels (S3) 122.34 (S2) 122.80 (S1) 123.08 (PP) 123.55 (R1) 124.01 (R2) 124.29 (R3) 124.76 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why short positions at level 123.00 with Stop Loss at 124.30 Take Profit 1 at 122.52 and Take Profit 2 at 120.69 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 10, 2012 Author Share Posted July 10, 2012 AUD/USD Elliott Wave The AUD/USD pair was trading in a sideways move on Monday developing corrective wave 2 (coloured blue). During the European session, we could observe a descending movement towards the 1.0153 level where this currency pair found support and started pushing higher. We can consider this move as the end of the corrective wave 2 (coloured blue). Therefore, during the New York session the AUD/USD pair continued to its bullish mood from the second half of the EU session and the price retraces back to the open price (around 1.0210 level). Today during the Asian session, the price fell back to the 1.0160 level and we are expecting to see a higher price soon. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9968-1.0328-1.0153) with Take Profit 1 at 1.0471 (100% of wave 1) and Take Profit 2 at 1.0694(161.8% of wave 1). Support at 1.0100 can be used as Stop Loss point. Support and Resistance Levels (S3) 1.0133 (S2) 1.0155 (S1) 1.0169 (PP) 1.0191 (R1) 1.0213 (R2) 1.0227 (R3) 1.0249 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the upward movement. That is why long positions at level 1.0255 with Stop Loss at 1.0100, Take Profit 1 at 1.0471, and Take Profit 2 at 1.0694 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 10, 2012 Author Share Posted July 10, 2012 GBP/JPY Elliott Wave The GBP/JPY pair finished corrective 4 wave (coloured blue) of the bigger (3) wave at 61.8% of the 2 wave yesterday. During the Asian session, we could observe an ascending movement towards the 123.50 level. Therefore, during the early European session, the GBP/JPY pair did not manage to hold this level and the price retraced towards the 123.05. During the New York session we could observe continuation of the bullish mood from Asian session and the price reached a new daily high at 123.63 level (end of the 4 wave). At the moment we can observe the price around 123.20 level and we are expecting to see the price around 122.00 today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (125.78-122.81-125.43) with Take Profit 1 at 122.52 (100% of wave 1) and Take Profit 2 at 120.69 (161.8% of wave 1). Resistance point at 123.60 can be used as Stop Loss point. Support and Resistance Levels (S3) 122.69 (S2) 122.96 (S1) 123.12 (PP) 123.39 (R1) 123.66 (R2) 123.82 (R3) 124.09 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 123.00 with Stop Loss at 123.60, Take Profit 1 at 122.52, and Take Profit 2 at 120.69 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 11, 2012 Author Share Posted July 11, 2012 AUD/USD Elliott Wave Since Monday the AUD/USD pair was trading in an upward move developing impulsive wave 1 (coloured pink). An ascending movement towards the 1.0245 level was observed during the European session. It is possible to define this move as the end of the 3 impulsive wave of the bigger 1 wave (coloured pink). Therefore, during the New York session the AUD/USD pair failed to hold this level and the price was pushed towards the 1.0178 level (end of the 5 wave). Today this currency pair is currently trading around 1.0250 level and we are expecting to see the lower price for the development of the corrective wave 2 (coloured pink).In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (1.0153-1.0275) with Take Profit 1 at 1.0206(61.8% of wave 1) and Take Profit 2 at 1.0183(78.6% of wave 1). Resistance point at 1.0300 can be used as Stop Loss point. Support and Resistance Levels (S3) 1.0113 (S2) 1.0145 (S1) 1.0165 (PP) 1.0197 (R1) 1.0229 (R2) 1.0249 (R3) 1.0281 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 1.0270 with Stop Loss at 1.0300 Take Profit 1 at 1.0206 and Take Profit 2 at 1.0183 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 11, 2012 Author Share Posted July 11, 2012 GBP/JPY Elliott Wave Since yesterday the GBP/JPY pair was trading in downward move developing impulsive wave 5 (coloured blue) of the bigger wave (3) (coloured green). During the early European session we could observe descending movement towards the 122.70 level. This move may be regarded as the end of a smaller wave 1 of the bigger 5 wave (coloured blue). For this reason, during the New York session GBP/JPY did not manage to hold this level and price returned to the 123.45. At the moment the price is trading around 123.10 level and we are expecting to see it around 122.00 level today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (125.78-122.81-125.43) with Take Profit 1 at 122.52 (100% of wave 1) and Take Profit 2 at 120.69 (161.8% of wave 1). Resistance point at 123.67 can be used as Stop Loss point. Support and Resistance Levels (S3) 122.38 (S2) 122.69 (S1) 122.88 (PP) 123.20 (R1) 123.51 (R2) 123.70 (R3) 124.02 Trading Forecast Proceeding from Elliott Wave Rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 122.90 with Stop Loss at 123.66, Take Profit 1 at 122.52, and Take Profit 2 at 120.69 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 12, 2012 Author Share Posted July 12, 2012 AUD/USD Elliott Wave Since our last analysis the AUD/USD pair was trading in an upward move developing corrective wave B (coloured blue) of the bigger wave (2) (coloured green). During the European session we could observe an ascending movement towards the 1.0280 level and we can consider this move as the end of the B wave (coloured blue). Therefore, during the New York session the AUD/USD pair started pushing lower trying to develop the final C wave (coloured blue) of the bigger (2) wave (coloured green). Today during the early Asian session we could observe continuation of the bearish mood from yesterday's NY session and the price reached 1.0175 level. At the moment we can observe the price trading around 1.0150 level and we are expecting to see the price around 1.0100 level today. In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (0.9968-1.0328) with Take Profit at 1.0105 (61.8% of wave 1). Resistance point at 1.0180 can be used as Stop Loss point. Also it is necessary to monitor the U.S. Unemployment Claims, Import Prices m/m, Federal Budget Balance and FOMC Member Williams Speaks data that can change the rate of the pair. Support and Resistance Levels (S3) 1.0133 (S2) 1.0173 (S1) 1.0197 (PP) 1.0236 (R1) 1.0276 (R2) 1.0300 (R3) 1.0339 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 1.0150 with Stop Loss at 1.0180 and Take Profit at 1.0105 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 12, 2012 Author Share Posted July 12, 2012 EUR/USD Elliott Wave Last week the EUR/USD pair was trading in a downward move developing impulsive wave (3) (coloured green) of the bigger 5 wave (coloured orange). Yesterday during the Asian and European sessions we could observe an ascending movement towards the 1.2296 level. Therefore, during the New York session this major pair did not manage to hold this level and price was pushed down reaching a new 2 years low at 1.2211 level. At the moment we are in the 5 wave (coloured blue) of the bigger (3) wave (coloured green) and we are expecting to see the price around 1.2150 level today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.2742-1.2408-1.2692) with Take Profit at 1.2149 (161.8% of wave 1). Resistance point at 1.2255 can be used as Stop Loss point. Also it is necessary to monitor the U.S. Unemployment Claims, Import Prices m/m, Federal Budget Balance, FOMC Member Williams Speaks and EU ECB Monthly Bulletin, Industrial Production m/m, ECB President Draghi Speaks data that can change the rate of the pair. Support and Resistance Levels (S3) 1.2165 (S2) 1.2197 (S1) 1.2217 (PP) 1.2249 (R1) 1.2281 (R2) 1.2301 (R3) 1.2333 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 1.2200 with Stop Loss at 1.2255 and Take Profit at 1.2149 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 13, 2012 Author Share Posted July 13, 2012 EUR/JPY Elliott Wave This week the EUR/JPY pair was trading in a downward channel developing impulsive wave 5 (coloured blue) of the bigger wave (3) (coloured green). Yesterday, during the European session, we could observe a descending movement towards the 96.40 level. Therefore, during the New York session, this currency pair did not manage to hold this level and the price started pushing higher. At the moment, the EUR/JPY pair is trading around 96.70 level, and we are expecting to see the price at 96.05 today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (101.60-98.30-101.40) with Take Profit at 96.05 (161.8% of wave 1). Resistance point at 97.00 can be used as Stop Loss point. Also it is necessary to monitor the EU Italian 10-y Bond Auction data that can change the rate of the pair. Support and Resistance Levels (S3) 95.57 (S2) 96.13 (S1) 96.47 (PP) 97.02 (R1) 97.58 (R2) 97.92 (R3) 98.47 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why short positions at level 96.60 with Stop Loss at 97.00 and Take Profit at 96.05 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 13, 2012 Author Share Posted July 13, 2012 AUD/USD Elliott Wave Since our last update the AUD/USD pair has finished its corrective wave (2) (coloured green) at 61.8% of the wave (1) (coloured green) and we could observe the beginning of the impulsive wave (3). Yesterday during the European and the early New York sessions, we could observe strong descending movement towards the 1.0098 level and we can consider this move as the end of the wave (2). Therefore, during the second half of the NY session, this pair started pushing higher and price reached 1.0153 (end of wave (1) (coloured pink)). At the moment, we can observe the AUD/USD pair trading around 1.0165 level and we are expecting to see the price above 1.0200 today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.0098-1.0153-1.0122) with Take Profit at 1.0209 (161.8% of wave 1). Support at 1.0120 point can be used as Stop Loss point. Also it is necessary to monitor the U.S. PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment and FOMC Member Lockhart Speaks data that can change the rate of the pair. Support and Resistance (S3) 1.0007 (S2) 1.0067 (S1) 1.0105 (PP) 1.0166 (R1) 1.0226 (R2) 1.0264 (R3) 1.0325 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the upward movement. That is why long positions at level 1.0170 with Stop Loss 1.0120 and Take Profit at 1.0209 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 16, 2012 Author Share Posted July 16, 2012 USD/CAD Elliott Wave Last week the USD/CAD pair was trading in a downward move developing corrective wave (2) (coloured green) of the bigger wave (3) (coloured orange). During the Friday's Asian and European sessions we could observe a descending movement towards the 1.0150 level (4 days low). Therefore, during the early New York session, we could observe continuation of the bearish mood and the price reached 1.0129 level. We can consider this move as the end of the wave (2) (coloured green). At the moment the USD/CAD pair is trading around 1.0155 level and we are expecting to see the price higher this week. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.0100-1.0249-1.0129) with Take Profit 1 at 1.0279 (100% of wave 1) and Take Profit 2 at 1.0370 (161.8% of wave 1). Invalidation at 1.0100 point can be used as Stop Loss point. Also it is necessary to monitor the CAD Foreign Securities Purchases and U.S. Core Retail Sales m/m, Retail Sales m/m, Empire State Manufacturing Index, Business Inventories m/m data that can change the rate of the pair. Support and Resistance (S3) 1.0084 (S2) 1.0112 (S1) 1.0130 (PP) 1.0158 (R1) 1.0186 (R2) 1.0204 (R3) 1.0232 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the upward movement. That is why long positions at level 1.0160 with Stop Loss 1.0100, Take Profit 1 at 1.0279 and Take Profit 2 at 1.0370 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 16, 2012 Author Share Posted July 16, 2012 AUD/USD Elliott Wave Last week the AUD/USD pair has finished its developing corrective wave (2) (coloured green), and started developing impulsive wave 1 (coloured blue) of the bigger wave (3) (coloured green). During the Friday's European session we could observe an ascending movement towards the 1.0185 level (new daily high). Therefore, during the New York session the AUD/USD pair continued trading in a bullish mood and the price reached 1.0228 level. Today during the beginning of the session, we could observe the price around 1.0248 level and we can consider this move as the end of the (3) wave (coloured pink) of the bigger wave 1 (coloured blue). At the moment the AUD/USD pair is developing corrective wave 4 and we are expecting to see the price higher today. In accordance with our wave rules and taking into account that the wave 5 retraces 61.8% of the wave 3, we can define the potential targets with measuring 3 wave with Take Profit at 1.0273 (61.8% of wave 1). Invalidation Point at 1.0153 point can be used as Stop Loss point. Also it is necessary to monitor the U.S. Core Retail Sales m/m, Retail Sales m/m, Empire State Manufacturing Index, Business Inventories m/m data that can change the rate of the pair. Support and Resistance (S3) 1.0085 (S2) 1.0126 (S1) 1.0151 (PP) 1.0192 (R1) 1.0233 (R2) 1.0258 (R3) 1.0299 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the upward movement. That is why long positions at level 1.0200 with Stop Loss 1.0153 and Take Profit at 1.0273 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 17, 2012 Author Share Posted July 17, 2012 AUD/USD Elliott Wave Since our last analysis the AUD/USD pair was trading in an upward move developing impulsive wave 1 (coloured blue) of the bigger wave (3) (coloured green). During the early European session we could observe a descending movement towards the 1.0204 level and we can consider this move as the end of the corrective 4 wave (coloured pink). Therefore, during the New York session the AUD/USD pair did not manage to hold this level and the price pushed higher. Today we could observe continuation of the bullish mood and the price is currently trading around 1.0300 level. In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci Retracements (1.0098-1.0327) with Take Profit 1 at 1.0209 (50% of wave 1) and Take Profit 2 at 1.0183(61.8% of wave 1). Resistance point at 1.0350 can be used as Stop Loss point. Also it is necessary to monitor the U.S. Core CPI m/m, CPI m/m, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m and Fed Chairman Bernanke Testifies data that can change the rate of the pair. Support and Resistance (S3) 1.0179 (S2) 1.0201 (S1) 1.0214 (PP) 1.0236 (R1) 1.0258 (R2) 1.0271 (R3) 1.0293 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why short positions at level 1.0320 with Stop Loss 1.0350 Take Profit 1 at 1.0209 and Take Profit 2 at 1.0183 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 17, 2012 Author Share Posted July 17, 2012 EUR/USD Elliott Wave Last week the EUR/USD pair was trading in a downward move developing (3) (coloured green) of the bigger wave (5) (coloured orange). Yesterday during the Asian and European sessions, we could observe a descending movement towards the 1.2175 level. Therefore, during the early New York session, the EUR/USD pair failed to hold this level as a result the price pushed higher reaching a new daily high at 1.2289 level. Today during the Asian session, this major pair continued trading in a bullish mood and the price is currently trading around 1.2295 level. At the moment we are in the corrective (4) wave so we need to be prepared for the final (5) wave (coloured green) of the bigger (5) wave (coloured orange). In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit 1 at 1.2116 (78.6% of wave 1) and Take Profit 2 at 1.2045 (100% of wave 1). Invalidation point at 1.2405 point can be used as Stop Loss point. Also it is necessary to monitor the UK CPI y/y, RPI y/y, BOE Gov King Speaks, BOE Inflation Letter, EUR German ZEW Economic Sentiment, ZEW Economic Sentiment and U.S. Core CPI m/m, CPI m/m, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m, Fed Chairman Bernanke Testifies data that can change the rate of the pair. Support and Resistance (S3) 1.2130 (S2) 1.2174 (S1) 1.2201 (PP) 1.2245 (R1) 1.2289 (R2) 1.2316 (R3) 1.2360 Trading Forecast Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why short positions at level 1.2340 with Stop Loss 1.2405, Take Profit 1 at 1.0216 and Take Profit 2 at 1.2045 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 20, 2012 Author Share Posted July 20, 2012 AUD/USD Elliott Wave Since our last analysis the AUD/USD pair was trading in an upward move developing impulsive wave (3) (coloured pink). Yesterday during the European session we could observe an ascending movement towards the 1.0444 level and we can consider this move as the end of the (3) wave. Therefore, during the New York session the AUD/USD pair did not manage to hold this level and price fell back to 1.0400 level. At the moment the price is testing 1.0395 level and we are expecting to see the price around 1.0500 today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit 1 at 1.0518(127.2% of wave 1) and Take Profit 2 at 1.0595(161.8% of wave 1). Support at 1.03640 point can be used as Stop Loss. Support and Resistance (S3) 1.0321 (S2) 1.0354 (S1) 1.0375 (PP) 1.0409 (R1) 1.0442 (R2) 1.0463 (R3) 1.0497 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0430 with Stop Loss 1.0345 Take Profit 1 at 1.0518 and Take Profit 2 at 1.0595 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 20, 2012 Author Share Posted July 20, 2012 USD/CAD Elliott Wave Yesterday we preformed short term analysis for the USD/CAD pair and today we want to examine a larger time frame for swing traders. Yesterday during the Asian and European sessions we could observe a descending movement towards the 1.0065 level. Therefore, during the New York session the USD/CAD pair did not manage to hold this level and the price started trading in a sideways move. At the moment price is still trading in a sideways move and we are expecting to see the last push to the downside today. In accordance with our wave rules and taking into account that the wave 3 retraces minimum 100% of the wave 1, we can define the potential targets with Fibonacci extensions (0.9800-1.0445-1.0050) wave with Take Profit 1 at 1.0660(100% of wave 1) and Take Profit 2 at 1.1057(161.8% of wave 1). Invalidation at 0.9800 point can be used as Stop Loss. Also it is necessary to monitor the CAD Core CPI m/m and CPI m/m data that can change the rate of the pair. Support and Resistance (S3) 1.0039 (S2) 1.0055 (S1) 1.0065 (PP) 1.0081 (R1) 1.0097 (R2) 1.0107 (R3) 1.0123 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0050 with Stop Loss 0.9800 Take Profit 1 at 1.0660 and Take Profit 2 at 1.1057 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 24, 2012 Author Share Posted July 24, 2012 EUR/USD Elliott Wave Last week the EUR/USD pair was trading in an upward move developing corrective wave (4) (coloured green) of the bigger (5) wave (coloured orange). During the Friday's European and New York sessions we could observe a strong descending movement towards the 1.2142 level. Today this major pair opened Asian session with 20 pips gap and price is currently trading around 1.2110 level. At the moment the EUR/USD pair is developing the last (5) wave (coloured green) of the bigger (5) (coloured orange) and we are expecting to see price under 1.2000 level today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 1.1983 (100% of wave 1). Resistance at 1.2175 point can be used as Stop Loss. Also it is necessary to monitor the EU Consumer Confidence data that can change the rate of the pair. Support and Resistance (S3) 1.2057 (S2) 1.2110 (S1) 1.2142 (PP) 1.2195 (R1) 1.2248 (R2) 1.2280 (R3) 1.2333 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2105 with Stop Loss 1.2175 and Take Profit at 1.1983 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 24, 2012 Author Share Posted July 24, 2012 USD/CAD Elliott Wave Since our last analysis the USD/CAD pair was trading in an upward move developing impulsive wave 1 (coloured blue) of the bigger wave (1) (coloured green).During the Friday’s Asian and European sessions we could observe an ascending movement towards the 1.0130 level where this major pair found resistance and price started pushing lower. Therefore, during the New York session the USD/CAD pair didn't manage to hold this level and the price continued trading in a bullish mood till the end of the session. Today we could observe the price trading around 1.0160 level, and we can consider this level as the end of the wave 1 (coloured blue). In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracement (1.0065-1.0160) with Take Profit 1 at 1.0111 (50% of wave 1) and Take Profit 2 at 1.0100 (61.8% of wave 1). Resistance at 1.0185 point can be used as Stop Loss. Support and Resistance (S3) 1.0045 (S2) 1.0069 (S1) 1.0083 (PP) 1.0107 (R1) 1.0131 (R2) 1.0145 (R3) 1.0169 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0150 with Stop Loss 1.0185, Take Profit 1 at 1.0111 and Take Profit 2 at 1.0100 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 24, 2012 Author Share Posted July 24, 2012 EUR/USD Elliott Wave Since our Last analysis the EUR/USD pair was trading in an upward move developing corrective wave 4 (coloured blue) of the bigger (5) wave (coloured green). During the early European session we could observe a descending movement towards the 1.2070 level and we can consider this move as the end of the impulsive 3 wave (coloured blue). Therefore, during the New York session this major pair started pushing higher and price filled Monday gap at 1.2148 level and we can regard this move as the end of the 4 wave (coloured blue). Today the EUR/USD pair started pushing lower developing final 5 wave (coloured blue) of the bigger (5) wave (coloured green). In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 1.1983 (100% of wave 1). Resistance at 1.2150 point can be used as Stop Loss. Also it is necessary to monitor the EU German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI, BBA Mortgage Approvals and U.S. Fed Chairman Bernanke Speaks, Flash Manufacturing PMI data that can change the rate of the pair. Support and Resistance (S3) 1.2032 (S2) 1.2061 (S1) 1.2080 (PP) 1.2109 (R1) 1.2138 (R2) 1.2157 (R3) 1.2186 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2100 with Stop Loss 1.2150 and Take Profit at 1.1983 are recommended Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 24, 2012 Author Share Posted July 24, 2012 USD/CHF Elliott Wave For the last few days the USD/CHF pair was trading in an upward move developing impulsive (5) wave (coloured green) of the bigger wave (5) (coloured orange). Yesterday during the Asian and European sessions we could observe an ascending movement towards the 0.9945 level and we can consider this move as the end of the 3 impulsive wave (coloured blue). Therefore, during the New York session the USD/CHF did not manage to hold this level and the price reached 0.9888 level (end of 4 wave). Today this major pair started pushing higher, the price is currently trading around 0.9915 level and we are expecting to see it around 0.9969 today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 0.9963 (100% of wave 1). Support at 0.9900 point can be used as Stop Loss. Also it is necessary to monitor the U.S. Fed Chairman Bernanke Speaks, Flash Manufacturing PMI data that can change the rate of the pair. Support and Resistance (S3) 0.9853 (S2) 0.9877 (S1) 0.9892 (PP) 0.9916 (R1) 0.9940 (R2) 0.9955 (R3) 0.9979 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9920 with Stop Loss 0.9900 and Take Profit at 0.9963 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 25, 2012 Author Share Posted July 25, 2012 EUR/USD Elliott Wave Since our last analysis the EUR/USD pair was trading in a downward move as we predicted yesterday. During the European and New York sessions we could observe a descending movement from 1.2140 towards the 1.02043 level. Today this major pair did not manage to hold yesterday’s bearish mood and the price started pushing higher reaching a new daily high at 1.2082 level. The EUR/USD pair is currently developing last impulsive wave 5 (coloured blue) of the bigger wave (5) (coloured green) and we are expecting to see price at 1.2000 today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit at 1.1983 (100% of wave 1). Resistance at 1.2125 point can be used as Stop Loss. Also it is necessary to monitor the EU German Ifo Business Climate, Prelim GDP q/q, Belgium NBB Business Climate and U.S. New Home Sales, Treasury Sec Geithner Speaks, Crude Oil Inventories data that can change the rate of the pair. Support and Resistance (S3) 1.1928 (S2) 1.1928 (S1) 1.2023 (PP) 1.2080 (R1) 1.2118 (R2) 1.2175 (R3) 1.2213 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2080 with Stop Loss 1.2125 and Take Profit at 1.1983 are recommended Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 25, 2012 Author Share Posted July 25, 2012 USD/CAD Elliott Wave For the last few days the USD/CAD pair was trading in an upward move from 1.0065 level developing impulsive wave 1 (coloured blue) of the bigger wave (1) (coloured green). Yesterday, during the European and early New York sessions, we could observe a descending movement towards the 1.0156 level. Therefore, during the second half of the NY session, the USD/CAD pair failed to hold this level and the price reached 1.0226 level. Today, during the early Asian session, this major pair finished developing of the impulsive wave 1 (coloured blue) at 1.0230 level and we are expecting to see the price trading in bearish mood for the next few days. In accordance with our wave rules and taking into account that the wave 2 retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (1.0065-1.0230) with Take Profit at 1.0128 (61.8% of wave 1). End of the wave 1 at 1.0230 level can be used as Stop Loss. Also it is necessary to monitor the U.S. New Home Sales, Treasury Sec Geithner Speaks, Crude Oil Inventories data that can change the rate of the pair. Support and Resistance (S3) 1.0107 (S2) 1.0132 (S1) 1.0176 (PP) 1.0201 (R1) 1.0245 (R2) 1.0270 (R3) 1.0314 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0200 with Stop Loss 1.0230 and Take Profit at 1.0128 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 26, 2012 Author Share Posted July 26, 2012 USD/CHF Elliott Wave From the beginning of March the USD/CHF pair was trading in an upward move developing impulsive wave 1 (coloured purple). If we take a look at 6 hours chart, we can count 5 completed waves so now we need to be prepared for a next few weeks. Yesterday the USD/CHF pair was trading in a downward move and we think this is a start of the corrective (A) wave (coloured orange) of the bigger wave 2 (coloured purple).In accordance with our wave rules and taking into account that the wave 2 usually retraces 61.8% of the wave 1, we can define the potential targets with Fibonacci retracements (0.8930-0.9973) with Take Profit 1 at 0.9459 (50% of wave 1) and Take Profit 2 at 0.9327 (61.8% of wave 1). Resistance at 1.0000 level can be used as Stop Loss. Also it is necessary to monitor the U.S. Core Durable Goods Orders m/m, Unemployment Claims, Durable Goods Orders m/m, Pending Home Sales m/m and Treasury Sec Geithner Speaks data that can change the rate of the pair. Support and Resistance (S3) 0.9809 (S2) 0.9846 (S1) 0.9868 (PP) 0.9904 (R1) 0.9941 (R2) 0.9963 (R3) 0.9999 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9860 with Stop Loss 1.0000, Take Profit 1 at 0.9459 and Take Profit 2 at 0.9327 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 26, 2012 Author Share Posted July 26, 2012 USD/CAD Elliott Wave Since our last analysis the USD/CAD pair was trading in a downward move developing corrective wave 2 (coloured blue) of the bigger wave (1) (coloured green). During the European session we could observe strong descending movement towards the 1.0170 level and we can consider this move as the end of the corrective wave (A) (coloured pink). Therefore, during the early New York session the USD/CAD pair started pushing higher but this major only retraces to 1.0200 level before downward move starts again. Today the USD/CAD pair continued trading in a bearish mood and the price is currently trading around 1.0150 level. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.0065-1.0230-1.0138) with Take Profit 1 at 1.0298 (100% of wave 1) and Take Profit 2 at 1.0400 (161.8% of wave 1). Start of the wave 1 at 1.0065 level can be used as Stop Loss. Also it is necessary to monitor the U.S. Core Durable Goods Orders m/m, Unemployment Claims, Durable Goods Orders m/m, Pending Home Sales m/m and Treasury Sec Geithner Speaks data that can change the rate of the pair. Support and Resistance (S3) 1.0083 (S2) 1.0118 (S1) 1.0140 (PP) 1.0175 (R1) 1.0210 (R2) 1.0232 (R3) 1.0267 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0165 with Stop Loss 1.0065, Take Profit 1 at 1.0298 and Take Profit 2 at 1.0400 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted July 27, 2012 Author Share Posted July 27, 2012 USD/CHF Elliott Wave Yesterday we preformed a long term analysis for the USD/CHF pair and today we would like to examine a short time frame for intraday traders. Yesterday during the early European session, we could observe a strong downward move that brought this major pair to the new 6 day low at 0.9740 level. Therefore, during the New York session the USD/CHF failed to hold this level and the price started pushing higher. Today during the Asian session, the Dollar/Swiss pair was trading in a sideways move developing corrective wave 4 (coloured blue) of the bigger impulse wave (1) (coloured green) and we are expecting to see continuation of the yesterdays bearish mood. In accordance with our wave rules and taking into account that the wave 5 usually retraces 100% of the wave 1, we can define the potential by measuring 1 wave, with Take Profit 1 at 0.9688 (100% of wave 1) and Take Profit 2 at 0.9628 (161.8% of wave 1). Resistance at 0.9815 level can be used as Stop Loss. Also it is necessary to monitor the Swiss KOF Economic Barometer and U.S. Advance GDP q/q, Advance GDP Price Index q/q, Revised UoM Consumer Sentiment data that can change the rate of the pair. Support and Resistance (S3) 0.9640 (S2) 0.9705 (S1) 0.9744 (PP) 0.9809 (R1) 0.9874 (R2) 0.9913 (R3) 0.9978 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9755 with Stop Loss 0.9815 Take Profit 1 at 0.9688 and Take Profit 2 at 0.9628 are recommended. Quote Link to comment Share on other sites More sharing options...
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