NDelic Posted July 27, 2012 Author Share Posted July 27, 2012 AUD/USD Elliott Wave For the last 2 days the AUD/USD pair was trading in a upward move developing impulsive wave 3 (coloured blue) of the bigger wave (3) (coloured green). Yesterday during the Asian and European, session we could observe a strong ascending move towards the 1.0420 level. Therefore, during the second half of the New York session, the AUD/USD pair did not manage to hold this level and the price started trading in a sideways move. Presently we can observe the developing of the impulsive wave (3) and we are expecting to see price higher 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 (1.0145-1.0443-1.0176) with Take Profit 1 at 1.0650 (138.2% of wave 1) and Take Profit 2 at 1.0731(161.8% of wave 1). Support at 1.0400 can be used as Stop Loss. Also it is necessary to monitor the U.S. Advance GDP q/q, Advance GDP Price Index q/q and Revised UoM Consumer Sentiment data that can change the rate of the pair. Support and Resistance (S3) 1.0239 (S2) 1.0289 (S1) 1.0320 (PP) 1.0370 (R1) 1.0420 (R2) 1.0451 (R3) 1.0501 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0450 with Stop Loss 1.0400 Take Profit 1 at 1.0650 and Take Profit 2 at 1.0731 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 2, 2012 Author Share Posted August 2, 2012 USD/CHF Elliott Wave Yesterday the USD/CHF pair was trading in a downward move developing corrective wave B (coloured blue) of the bigger wave (2) (coloured green). During the European and New York trading sessions we could observe descending movement from 0.9805 towards the 0.9740 where this major pair found support and price started pushing higher at the end of NY session. Today the USD/CHF pair broke yesterday’s low at 09740 and price reached new 3 days low at 0.9735 level. We can consider this move as the end of the B wave (coloured blur) and we can expect to see price around 0.9850 today. In accordance with our wave rules and taking into account that the wave C retraces 100% of the wave A, we can define the potential targets with Fibonacci extensions (0.9695-0.9823-0.9735) with Take Profit at 0.9856 (100% of wave A). Resistance at 0.9700 can be used as Stop Loss. Support and Resistance (S3) 0.9705 (S2) 0.9730 (S1) 0.9745 (PP) 0.9769 (R1) 0.9794 (R2) 0.9809 (R3) 0.9833 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9775 with Stop Loss 0.9700 and Take Profit 0.9856 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 2, 2012 Author Share Posted August 2, 2012 GBP/JPY Elliott Wave Since our last analysis the GBP/JPY pair was trading in a downward move developing last corrective wave C (coloured blue) of the bigger (2) wave (coloured green). From early European till the second half of the New York session this exotic pair was trading in a descending movement towards the 122.15 level. Today the GBP/JPY pair tried to push higher but after testing resistance level around 122.60, the price fell back to the 122.00 level and we can consider this move as the end of the (2) wave. At the moment this exotic currency finished developing of the C wave (coloured blue) and we can expect to see price higher for the next few days. 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 (120.81-123.70-121.95) with Take Profit 1 at 124.95 (100% of wave 1) and Take Profit 2 at 126.77 (161.8% of wave 1). Invalidation point at 120.81 can be used as Stop Loss. Support and Resistance (S3) 121.75 (S2) 122.06 (S1) 122.25 (PP) 122.57 (R1) 122.88 (R2) 123.07 (R3) 123.39 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 122.65 with Stop Loss 120.81, Take Profit 1 124.95 and Take Profit 2 126.77 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 2, 2012 Author Share Posted August 2, 2012 EUR/USD Elliott Wave Yesterday the EUR/USD pair was trading in a downward move developing final C wave (coloured blue) of the bigger (2) (coloured green). During the Asian and European sessions this major pair was trading in a sideways move between 1.2285 and 1.2335 levels. Therefore, during the New York session the EUR/USD did not manage to hold this level and we could observe a descending movement towards the 1.2215 level. We can consider this move as the end of the corrective wave (2) (coloured green). At the moment we can observe the beginning of the impulsive wave (3) and we are expecting to see the price around 1.2365 level 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 (1.2041-1.2390-1.2215) with Take Profit 1 at 1.2565(100% of wave 1) and Take Profit 2 at 1.2778 (161.8% of wave 1). To reduce the risk we can use Invalidation point at 1.2041 as Stop Loss. Also it is necessary to monitor the EU Spanish 10-y Bond Auction, Minimum Bid Rate, ECB Press Conference and U.S. Unemployment Claims, Factory Orders m/m, Natural Gas Storage data that can change the rate of the pair. Support and Resistance (S3) 1.2143 (S2) 1.2188 (S1) 1.2216 (PP) 1.2261 (R1) 1.2306 (R2) 1.2334 (R3) 1.2379 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2300 with Stop Loss 1.2040, Take Profit 1 1.2565 and Take Profit 2 at 1.2778 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 2, 2012 Author Share Posted August 2, 2012 USD/RUB Elliott Wave For the last few days the USD/RUB pair was trading in a downward move developing corrective wave (2) (coloured orange) of the bigger 5 wave (coloured purple). At the moment we can observe the beginning of the impulsive (3) wave (coloured orange), so we need to be prepared for entering a long position and trying to get most of this impulsive wave. 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 (31.7505-33.0310-32.0025) with Take Profit 1 at 34.0647 (161.8% of wave 1). To reduce the risk, we can use Invalidation point at 31.7505 as Stop Loss. Also it is necessary to monitor the U.S. Unemployment Claims, Factory Orders m/m and Natural Gas Storage data that can change the rate of the pair. Support and Resistance (S3) 32.0073 (S2) 32.1391 (S1) 32.2205 (PP) 32.3523 (R1) 32.4841 (R2) 32.5655 (R3) 32.6973 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 32.4700 with Stop Loss 31.7505 and Take Profit 34.0647 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 3, 2012 Author Share Posted August 3, 2012 GBP/JPY Elliott Wave For the last 5 days the GBP/JPY pair was trading in a downward move developing corrective wave (2) (coloured green). Yesterday during the European and New York sessions we could observe a strong descending movement towards the 121.10 level (5 days low).Today during the early Asian session this exotic currency break below yesterday’s low and price reached 121.03 level. We can consider this move as the end of the (2) wave (coloured green) and we are expecting to see the price higher for the next few days. 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 (120.81-123.70-121.03) with Take Profit 1 at 124.10 (100% of wave 1) and Take Profit 2 at 125.92 (161.8% of wave 1). To reduce the risk we can use Invalidation point at 120.81 as Stop Loss. Also it is necessary to monitor the UK Services PMI and EU Retail Sales m/mI data that can change the rate of the pair. Support and Resistance (S3) 120.22 (S2) 120.78 (S1) 121.13 (PP) 121.69 (R1) 122.25 (R2) 122.60 (R3) 123.16 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 121.70 with Stop Loss 120.81, Take Profit 1 124.10 and Take Profit 2 at 125.92 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 3, 2012 Author Share Posted August 3, 2012 EUR/USD Elliott Wave Since our last analysis the EUR/USD pair was trading in a downward move developing corrective wave C (coloured blue) of the bigger wave (2). During the European session we could observe a strong ascending movement from 1.2215 towards the 1.2400 level. Therefore, during the New York session the EUR/USD pair did not manage to hold this level and price fell to the new 5 days low at 1.2132 level (end of the C wave). Today we can observe the beginning of the (3) impulsive wave and we are expecting to see price higher 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 (1.2041-1.2390-1.2132) with Take Profit 1 at 1.2480 (100% of wave 1) and Take Profit 2 at 1.2695 (161.8% of wave 1). To reduce the risk we can use Invalidation point at 1.2041 as Stop Loss. Also it is necessary to monitor the EU Retail Sales m/m and U.S. Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, ISM Non-Manufacturing PMI data that can change the rate of the pair. Support and Resistance (S3) 1.1968 (S2) 1.2071 (S1) 1.2135 (PP) 1.2239 (R1) 1.2342 (R2) 1.2406 (R3) 1.2510 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2235 with Stop Loss 1.2040, Take Profit 1 1.2480 and Take Profit 2 at 1.2695 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 7, 2012 Author Share Posted August 7, 2012 GBP/JPY Elliott Wave Yesterday the GBP/JPY pair was trading in a strong descending movement developing corrective wave 2 (coloured blue) of the bigger wave (3) (coloured green). During the Asian and the European sessions we could observe a downward movement of this exotic currency pair that brought price towards the 121.67 level and we can consider this move as the end of the 2 wave (coloured blue). Therefore, during the New York session the GBP/JPY pair did not manage to hold this level and the price started pushing higher when the development of the impulsive 3 wave (coloured blue) started. 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 (121.03-123.12-121.67) with Take Profit 1 at 123.73 (100% of wave 1) and Take Profit 2 at 124.97 (161.8% of wave 1). To reduce the risk, we can use Support point at 121.40 as Stop Loss. Also it is necessary to monitor the UK Manufacturing Production m/m, NIESR GDP Estimate, Industrial Production m/m data that can change the rate of the pair. Support and Resistance (S3) 120.88 (S2) 121.43 (S1) 121.77 (PP) 122.32 (R1) 122.87 (R2) 123.21 (R3) 123.76 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 122.20 with Stop Loss 121.40 Take Profit 1 123.73 and Take Profit 2 at 124.97 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 7, 2012 Author Share Posted August 7, 2012 AUD/CHF Elliott Wave For the last few days the AUD/CHF pair was trading in a downward move, developing corrective wave (2) (coloured green) of the bigger (5) wave (coloured orange). Yesterday during the early Asian session we could observe a descending movement towards the 1.0202 and we can consider this move as the end of the C wave of the bigger (2) wave. Therefore, during the European and New York sessions the AUD/CHF pair did not manage to hold this level and price reached a new daily high at 1.0292 level. At the moment, this currency pair was developing impulsive (3) wave and we are expecting to see the price around 1.0565 level 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 (1.0127-1.0345-1.0202) with Take Profit 1 at 1.0428 (100% of wave 1) and Take Profit 2 at 1.0565 (161.8% of wave 1). To reduce the risk, we can use Invalidation point at 1.0126 as Stop Loss. Also it is necessary to monitor the Swiss Foreign Currency Reserves and CPI m/m data that can change the rate of the pair. Support and Resistance (S3) 1.0153 (S2) 1.0188 (S1) 1.0210 (PP) 1.0245 (R1) 1.0280 (R2) 1.0302 (R3) 1.0337 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0270 with Stop Loss 1.0126 Take Profit 1 1.0428 and Take Profit 2 at 1.0565 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 8, 2012 Author Share Posted August 8, 2012 EUR/USD Elliott Wave From the beginning of August the EUR/USD pair was trading in an upward move, developing impulsive 1 wave (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the Asian and European sessions we could observer an ascending movement from 1.2375 towards the 1.2442 and we can consider this move as the end of the 5 wave of the bigger wave 1 (coloured blue). Therefore, during the New York session the EUR/USD pair did not manage to hold this level and the price retraced to the 1.2392 level. At the moment we can observe the beginning of the corrective 2 wave (coloured blue) and we are expecting to see the price around 1.2260 level soon. 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 (1.2134-1.2442) with Take Profit 1 at 1.2291 (50% of wave 1) and Take Profit 2 at 1.2254 (61.8% of wave 1). To reduce the risk, we can use resistance at 1.2440 as Stop Loss. Also it is necessary to monitor the EU German Industrial Production m/m, German 10-y Bond Auction and U.S. Prelim Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q, Crude Oil Inventories, 10-y Bond Auction data that can change the rate of the pair. Support and Resistance (S3) 1.2339 (S2) 1.2364 (S1) 1.2380 (PP) 1.2405 (R1) 1.2430 (R2) 1.2446 (R3) 1.2471 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2360 with Stop Loss 1.2440 Take Profit 1 1.2291 and Take Profit 2 at 1.2254 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 8, 2012 Author Share Posted August 8, 2012 USD/CHF Elliott Wave For the last few days the USD/CHF pair was trading in a downward move developing motive wave 1 (coloured blue) of the bigger (3) wave (coloured green). During the early European session we could observe a strong descending movement towards the 0.9657 level and we can regard this move as the end of the 1 wave (coloured blue). Therefore, during the early New York session this major pair did not manage to hold this level and the price started pushing higher when the development of the corrective 2 wave (coloured blue) started. 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 (0.9897-0.9657) with Take Profit 1 at 0.9777 (50% of wave 1) and Take Profit 2 at 0.9805 (61.8% of wave 1). To reduce the risk, we can use support at 0.9660 as Stop Loss. Also it is necessary to monitor the Swiss SECO Consumer Climate and U.S.Prelim Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q, Crude Oil Inventories, 10-y Bond Auction data that can change the rate of the pair. Support and Resistance (S3) 0.9634 (S2) 0.9653 (S1) 0.9665 (PP) 0.9683 (R1) 0.9702 (R2) 0.9714 (R3) 0.9732 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9720 with Stop Loss 0.9660 Take Profit 1 0.9777 and Take Profit 2 at 0.9805 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 10, 2012 Author Share Posted August 10, 2012 AUD/CAD Elliott Wave During last month the AUD/CAD pair was trading in an upward move until Monday when impulsive (5) wave (coloured green) of the bigger wave (1) (coloured orange) finished and we could observe the price going lower for the last few days when the development of the corrective (2) wave starts. Yesterday during the European and New York sessions we could see a strong descending movement towards the 1.0498 level (new 4 days low). At the moment, the price is trading around 1.0510 level and we are expecting to find it around 1.0200 in the next few weeks. In compliance with our wave rules and keeping in mind that the wave 2 retraces 61.8% of the wave 1, we can specify the potential targets with Fibonacci retracement (0.9952-1.0593) ,Take Profit 1 at 1.0351 (38.2% of wave 1), and Take Profit 2 at 1.0200 (61.8% of wave 1). To reduce the risk, we can use resistance at 1.0590 as Stop Loss. Moreover, it is necessary to monitor the AUD Unemployment Claims, Unemployment Rate and CAD Housing Starts, NHPI m/m, Trade Balance data that can change the rate of the pair. Support and Resistance (S3) 1.0484 (S2) 1.0496 (S1) 1.0503 (PP) 1.0516 (R1) 1.0528 (R2) 1.0535 (R3) 1.0548 Trading Forecast On the basis of Elliott Wave rules today, the trend is tend to begin the downward movement. For this reason short positions at level 1.0500 with Stop Loss 1.0590, Take Profit 1 1.0351, and Take Profit 2 1.0200 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 10, 2012 Author Share Posted August 10, 2012 EUR/USD Elliott Wave Since our last analysis, the EUR/USD pair was trading in a downward move developing corrective wave A (coloured purple) of the bigger 2 wave (coloured blue). Yesterday during the Asian and European sessions we could observe a descending movement from 1.2400 towards the 1.2325 level and we can consider this move as the end of the A wave. Therefore, during yesterday's New York session and today ‘s Asian session this major pair did not manage to hold this level and the price started pushing higher when the development of the B wave (coloured purple) started. At the moment the EUR/USD pair is trading around 1.2345 level and we are expecting to see the price around 1.2260 level today. In accordance with our wave rules and taking into account that the wave C retraces 100% of the wave A, we can define the potential targets with Fibonacci extensions (1.2441-1.2326-1.2385) with Take Profit at 1.2261 (100% of wave A). To reduce the risk, we can use resistance at 1.2400 as Stop Loss. Also it is necessary to monitor the EU ECB Monthly Bulletin, Italian Trade Balance and U.S. Trade Balance, Unemployment Claims data that can change the rate of the pair. Support and Resistance (S3) 1.2288 (S2) 1.2317 (S1) 1.2335 (PP) 1.2364 (R1) 1.2393 (R2) 1.2411 (R3) 1.2440 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2340 with Stop Loss 1.2400 and Take Profit 1.2261 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 13, 2012 Author Share Posted August 13, 2012 EUR/USD Elliott Wave Last week the EUR/USD pair was trading in downward move, developing corrective 2 wave (coloured blue) of the bigger (3) wave (coloured green). During the Friday's European and early New York sessions we could observe a strong descending movement from 1.2305 towards the 1.2240 level and we can consider this move as the end of the 2 wave (coloured green). Therefore, during the second half of the NY session, the EUR/USD retraced back to the 1.2315 (new daily high). At the moment this major pair is trading around 1.2280 level and we are expecting to see the price around 1.2750 level 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 (1.2133-1.2441-1.2259) with Take Profit 1 at 1.2558 (100% of wave 1) and Take Profit 2 at 1.2754 (161.8% of wave 1) To reduce the risk, we can use invalidation point at 1.2133 as Stop Loss. Support and Resistance (S3) 1.2207 (S2) 1.2236 (S1) 1.2253 (PP) 1.2282 (R1) 1.2311 (R2) 1.2328 (R3) 1.2357 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2300 with Stop Loss 1.2133, Take Profit 1 1.2558 and Take Profit 2 1.2558 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 13, 2012 Author Share Posted August 13, 2012 GBP/JPY Elliott Wave For the last few days the GBP/JPY pair was trading in a sideways move developing corrective wave 2 (coloured blue) of the bigger impulsive (3) wave (coloured green). During the Friday's Asian and European sessions we could observe a descending movement towards the 121.73 support level, and we can consider this move as the end of the corrective 2 wave (coloured green). Therefore, during the New York session this exotic currency did not manage to hold this level and the price started pushing higher when the development of the impulsive 3 wave (coloured blue) begun. 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 (121.03-123.20-121.73) with Take Profit 1 at 123.82(100% of wave 1) and Take Profit 2 at 125.08 (161.8% of wave 1) To reduce the risk, we can use support point at 121.70 as Stop Loss. Support and Resistance (S3) 121.34 (S2) 121.78 (S1) 122.05 (PP) 122.49 (R1) 122.93 (R2) 123.20 (R3) 123.64 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 122.60 with Stop Loss 121.70 Take Profit 1 123.82 and Take Profit 2 125.08 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 14, 2012 Author Share Posted August 14, 2012 EUR/JPY Elliott Wave Last week the EUR/JPY pair was trading in a downward move developing corrective 2 wave (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the European session we could observe an ascending movement towards the 96.55 level. Therefore, during the New York session this currency pair continued trading in a bullish mood and the price reached a new 2-day high at 96.90 level. Today the EUR/JPY pair is trading around 97.00 level and we are expecting to see the price above 100.00 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 (94.92-97.80-95.70) with Take Profit 1 at 98.54 (100% of wave 1) and Take Profit 2 at 100.30 (161.8% of wave 1) To reduce the risk, we can use support point at 95.70 as Stop Loss. Support and Resistance (S3) 95.50 (S2) 95.87 (S1) 96.10 (PP) 96.47 (R1) 96.84 (R2) 97.07 (R3) 97.44 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 97.35 with Stop Loss 95.70, Take Profit 1 98.54 and Take Profit 2 100.30 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 14, 2012 Author Share Posted August 14, 2012 EUR/USD Elliott Wave Since our last analysis, the EUR/USD pair was trading in an upward move, like we expected, developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green). During the European and the first half of the New York sessions we could observe an ascending movement from 1.2270 towards the 1.2373 level. Therefore, during the second half of the NY session this major pair did not manage to hold this level and the price slipped towards the 1.2325 level. At the moment the EUR/USD pair is testing yesterday’s high and we are expecting to see continuation of the bullish mood 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 (1.2133-1.2441-1.2259) with Take Profit 1 at 1.2558 (100% of wave 1) and Take Profit 2 at 1.2754 (161.8% of wave 1). To reduce the risk, we can use support point at 1.2240 as Stop Loss. Support and Resistance (S3) 1.2208 (S2) 1.2251 (S1) 1.2278 (PP) 1.2321 (R1) 1.2364 (R2) 1.2391 (R3) 1.2434 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2375 with Stop Loss 1.2240, Take Profit 1 1.2558 and Take Profit 2 1.2558 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 16, 2012 Author Share Posted August 16, 2012 EUR/USD Elliott Wave Since our last analysis, the EUR/USD pair was trading in a downward move, developing corrective wave (2) (coloured purple) of the bigger 3 (coloured blue). During the Asian and early European sessions we could observe a strong ascending movement towards the 1.2385 level and we can consider this move as the end of the (1) wave (coloured purple). Therefore, during the second half of the EU session the EUR/USD did not manage to hold this level and the price slipped towards the 1.2316 level. At the moment we can observe the price trading in a sideways move and we are expecting to see it higher 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 (1.2240-1.2385-1.2316) with Take Profit 1 at 1.2460 (100% of wave 1) and Take Profit 2 at 1.2550 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.2240 as Stop Loss. Also it is necessary to monitor the U.S. Core CPI m/m, CPI m/m, Empire State Manufacturing Index, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m and Crude Oil Inventories data that can change the rate of the pair. Support and Resistance (S3) 1.2272 (S2) 1.2298 (S1) 1.2315 (PP) 1.2341 (R1) 1.2367 (R2) 1.2384 (R3) 1.2410 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2345 with Stop Loss 1.2240, Take Profit 1 1.2460, and Take Profit 2 1.2550 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 16, 2012 Author Share Posted August 16, 2012 USD/CHF Elliott Wave For the last few days the USD/CHF pair was trading in a downward move developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the European and New York sessions we could observe an ascending movement from 0.9696 towards the 0.9751 and we can consider this move as the end of the corrective wave (2) (coloured purple). At the moment this major pair is at the beginning of the impulsive (3) wave (coloured purple) of the bigger 3 wave (coloured blue) and we are expecting to see the price at 0.9575 level 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 (0.9809-0.9696-0.9751) with Take Profit 1 at 0.9642 (100% of wave 1) and Take Profit 2 at 0.9574 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 0.9809 as Stop Loss. Also it is necessary to monitor the U.S. Core CPI m/m, CPI m/m, Empire State Manufacturing Index, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production m/m and Crude Oil Inventories data that can change the rate of the pair. Support and Resistance (S3) 0.9677 (S2) 0.9698 (S1) 0.9711 (PP) 0.9731 (R1) 0.9752 (R2) 0.9765 (R3) 0.9785 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9730 with Stop Loss 0.9809, Take Profit 1 0.9642, and Take Profit 2 0.9574 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 16, 2012 Author Share Posted August 16, 2012 GBP/JPY Elliott Wave For the last few days the GBP/JPY pair was trading in an upward move, developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green). Yesterday during the Asian and European sessions we could observe an ascending movement towards the 124.93 level where this exotic currency found resistance. Therefore, during the early New York session the GBP/JPY pair did not manage to hold this level and the price slipped towards the 123.30 level (new daily low). At the moment the price is trading around 124.20 level and we are expecting to see it around 125.20 level 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 (121.07-123.25-131.78) with Take Profit at 125.22 (161.8% of wave 1). To reduce the risk, we can use support point at 123.60 as Stop Loss. Also it is necessary to monitor the GBP Retail Sales m/m data that can change the rate of the pair. Support and Resistance (S3) 122.97 (S2) 123.26 (S1) 123.43 (PP) 123.71 (R1) 124.00 (R2) 124.17 (R3) 124.45 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 124.40 with Stop Loss 123.60 and Take Profit 125.22 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 16, 2012 Author Share Posted August 16, 2012 EUR/USD Elliott Wave Yesterday the EUR/USD pair was trading in a downward move, developing final C wave of the bigger (2) wave (coloured purple). During the early European session we could observe strong descending movement from 1.2343 towards the 1.2263 level. Therefore, during the New York session this major pair did not manage to hold this level and the price pushed higher. Today during the Asian session we could observe continuation of yesterday's bearish mood that brings the EUR/USD pair to the new low at 1.2255 level, and we can consider this move as the end of the corrective (2) wave (coloured purple). 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 (1.2240-1.2385-1.2255) with Take Profit 1 at 1.2488 (161.8% of wave 1) and Take Profit 2 at 1.2632(261.8% of wave 1). To reduce the risk, we can use invalidation point at 1.2240 as Stop Loss. Also it is necessary to monitor the EU CPI y/y, Core CPI y/y and U.S. Building Permits, Unemployment Claims, Housing Starts, Philly Fed Manufacturing Index data that can change the rate of the pair. Support and Resistance (S3) 1.2219 (S2) 1.2249 (S1) 1.2267 (PP) 1.2298 (R1) 1.2328 (R2) 1.2346 (R3) 1.2377 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2290 with Stop Loss 1.2240, Take Profit 1 1.2488, and Take Profit 2 1.2632 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 17, 2012 Author Share Posted August 17, 2012 AUD/USD Elliott Wave From the beginning of the last week the AUD/USD pair was trading in a downward movement, developing the last (E) wave (coloured orange) after it finished corrective (D) wave (coloured orange). Yesterday during the Asian session we could observe a descending movement towards the 1.0474 level. Therefore, during the European and New York sessions the AUD/USD pair did not manage to hold this level and the price reached a new 2-day high at 1.0525 level. At the moment we can observe developing of the impulse 3 wave (coloured blue) and we are expecting to see the price around 1.0270 soon. In accordance with our wave rules and taking into account that the wave 3 retraces 261.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.0612-1.0496-1.0577) with Take Profit at 1.0269 (261.8% of wave 1). To reduce the risk, we can use resistance point at 1.0515 as Stop Loss. Also it is necessary to monitor the U.S. Prelim UoM Consumer Sentiment data that can change the rate of the pair. Support and Resistance (S3) 1.0452 (S2) 1.0471 (S1) 1.0484 (PP) 1.0503 (R1) 1.0522 (R2) 1.0535 (R3) 1.0554 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0400 with Stop Loss 1.0515 and Take Profit 1.0269 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 17, 2012 Author Share Posted August 17, 2012 GBP/JPY Elliott Wave Since our last analysis, the GBP/JPY pair was trading in an upward move, like we expected, developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green). During the yesterday's European and New York sessions we could observe an ascending movement from 123.80 towards the 124.87 level. At the moment we are close to 161.8% retracement, and we need to be prepared for entering short position when 4 wave (coloured blue) starts. In accordance with our wave rules and taking into account that the wave 4 retraces 100% of the wave 2, we can define the potential targets with measuring the 2 wave, with Take Profit at 123.70 (100% of wave 2). To reduce the risk, we can use support point at 125.50 as Stop Loss. Support and Resistance (S3) 123.30 (S2) 123.76 (S1) 124.04 (PP) 124.50 (R1) 124.96 (R2) 125.24 (R3) 125.70 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 125.20 with Stop Loss 125.50 and Take Profit 123.70 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 20, 2012 Author Share Posted August 20, 2012 EUR/USD Elliott Wave For the last few days the EUR/USD pair was trading in an upward move developing corrective (Y) wave (coloured green) of the bigger (4) wave (coloured orange). During the Friday's European session we could observe an ascending movement from 1.2338 towards the 1.2380 level. Therefore, during the early New York session this major pair did not manage to hold this level and the price fell to the 1.2288 level (new daily low). At the moment the EUR/USD pair is trading around 1.2350 level and we are expecting to see the price around 1.2640 this week. In accordance with our wave rules and taking into account that the wave Y retraces 100% of the wave W, we can define the potential targets with measuring the X wave, with Take Profit at 1.2640 (100% of wave W). To reduce the risk, we can use support point at 1.2290 as Stop Loss. Alternation: if price does not break 1.2385 resistance level soon, we need to regard (W) wave as the end of the (4) wave (coloured orange) and we can expect to see price around 1.2000 this week. Support and Resistance (S3) 1.2239 (S2) 1.2275 (S1) 1.2297 (PP) 1.2333 (R1) 1.2369 (R2) 1.2391 (R3) 1.2427 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.2385 with Stop Loss 1.2290 and Take Profit 1.2640 are recommended. Quote Link to comment Share on other sites More sharing options...
NDelic Posted August 20, 2012 Author Share Posted August 20, 2012 GBP/JPY Elliott Wave Last week the GBP/JPY pair was trading in an upward move, developing impulsive 3 wave (coloured blue). During the Friday's European and New York sessions this exotic pair was trading in a sideways move in the range of 124.90 to 124.45 level. At the moment the GBP/JPY pair is testing 124.90 resistance level and we are expecting to see the price around 125.20 level today before 4 wave (coloured blue) starts. In accordance with our wave rules and taking into account that the wave 4 retraces 100% of the wave 2, we can define the potential targets with measuring the 2 wave, with Take Profit at 123.72 (100% of wave 2). To reduce the risk, we can use support point at 125.60 as Stop Loss. Support and Resistance (S3) 124.31 (S2) 124.48 (S1) 124.58 (PP) 124.76 (R1) 124.93 (R2) 125.03 (R3) 125.21 Trading Forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 125.20 with Stop Loss 125.60 and Take Profit 123.70 are recommended. Quote Link to comment Share on other sites More sharing options...
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