Fundamental Analisis By InstaForex

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, July 28, 2010 2010-07-28​

According to wave count this currency pair is developing corrective wave 4 of the intermediate uptrend (see waves colored magenta on the chart). The targets of wave 4 are Fibonacci retracements off 0.8737-0.9068:
- 0.8942 = .382 retracement, has been reached already
- 0.8902 = .50 ret. Below this point wave 4 will be considered a new wave A down and the whole movement 0.8633-0.9068 will be over (a daily wave - colored royal blue on the chart)
- 0.8863 = .618 ret
We also consider retracements of the whole movement up from 0.8633 to 0.9068:
- 0.8902 = .382 ret
- 0.8851 = .50 ret
- 0.8799 = .618 ret
As for the possible advance, if the price breaks above 0.9068 the enarest strategic target will be 0.9109 - objective point (OP) off waves 0.8066-0.8861-0.8314.



Overbought/Oversold
According to the Detrended Oscillator the market is heavily oversold. Assuming that the prevailing trend is up long entries are favored against the nearest Fibonacci retracement points, such as 0.8942 or 0.8902 only in case of bottoming signals.

Performed by Denis Strelkov, Analytical expert
InstaForex Companies Group © 2007-2010

 

[IFX Darika]

Pound Jumps To New Multi-month High Against US Dollar

U.K.'s sterling surged up to 1.5619 against the US dollar by 1:35 am ET Wednesday, its highest level since February 18 and a further rally may push the pair to stay around the 1.5820 resistance level. The cable is presently quoted at 1.5614.
The pound also edged slightly higher to 137.21 against the yen and challenged yesterday's new multi-week high of 1.6552 against the Swiss franc at this time. The pound is presently quoted at 1.6549 against the alpine unit and 137.12 against the Japanese currency.

News are provided by InstaForex.

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, July 29, 2010 2010-07-29​

According to wave count this currency pair is developing a weekly wave up, which is labeled C (colored silver on the chart). The strategic targets of this longterm wave are Fibonacci expansions off 130.40-136.00-130.80.
The strategic targets are:
- 136.40 = objective point (or OP), has been reached already
- 139.86 = expanded objective point (XOP)
If we look at smaller timeframes, we'll see corrective wave B that is going against the intermediate uptrend (colored mangeta on the chart). The calculations for this wave are simple - Fibonacci retracement points of waves 134.39-137.53 and 130.80-137.53.
Targets of the corrective wave:
- 135.96 = .50 retracement, has been reached already by the price
- 135.59 = .618 ret
- 134.96 = .382 ret
- 134.14 = .50 ret
- 133.37 = .618 ret



Overbought/Oversold
The Detrended Oscillator is now at the zero level. The nearest oversold area is 40-60 pips down which corresponds to 135.59 - the Fib-node .618 of wave 134.39-137.53. A long entry is favored against this level in case of a reversal signal.

Performed by Denis Strelkov, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, July 29, 2010 2010-07-29​

According to wave count on larger timeframes this currency pair is now developing wave C of daily degree (colored lightgreen on the chart). The strategic targets of this wave are Fibonacci expansions off 0.8066-0.8861-0.8314 and 0.8314-0.8870-0.8633:
- 0.8977 = contracted objective point (COP), reached already by the price
- 0.9109 = objective point (OP)
- 0.9189 = OP
On smaller TF's we get one more target, which is a Fib-expansion point off 0.8633-0.8858-0.8737:
- 0.9109 = expanded objective point (XOP)
Though the major trend is up, the intermediate trend is being corrected now. The targets of the corrective wave are Fibonacci retracement points of 0.8737-0.9068, 0.8633-0.9068:
- 0.8902 = confluence area of .50 and .382 retracement
- 0.8863 = .618 ret
- 0.8851 = .50 ret
- 0.8815 = .764 ret
- 0.8799 = .618 ret



Overbought/Oversold
The Detrended Oscillator is now in the overbought area and exceeded the previous peak, which may indicate the 1st subwave within a larger wave up and signal the end of the correction which stopped just within 3 pips of the 0.8902 confluence (see above). A long entry is favored if it is confirmed by a reversal signal on a larger TF.

Performed by Denis Strelkov, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

Wave analysis of EUR/USD for July 29, 2010 2010-07-29​

The EUR/USD price has continued to move in very narrow sideways corridor along the horizontal line identifying the correctional level of 61.8% (1.3000). it should be noted that for the euro such horizontal movement is not usual and can speak for accumulating potential ahead sharp and dynamic changes on the market. In any case, the ratio between the assumed waves 1 (or A) and 3 (or C) remains unreached for now and the 5th wave in 5th is incomplete.


Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

Wave analysis of USD/JPY for July 29, 2010 2010-07-29​

The USD/JPY price had hit the correctional level of 61.8%, which favored the beginning of quotations movement downwards, which got to quite dynamic by the end of Wednesday. Along with the current situation, we can suppose that the correctional 4th wave in C has finished its development and now is forming the inner wave structure of the 5th wave in C in the direction of the first probable target positioned around the level of 86.00.


Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

done!!!
nice counting

blh tahan gak mamat nie..

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, July 30, 2010 2010-07-30​

According to wave count this currency pair is now developing wave C of weekly degree. The strategic targets of this movement are Fibonacci expansions off 0.8066-0.8861-0.8314 and 0.8314-0.8870-0.8633. On smaller timeframes the targets are Fib expansions off 0.8633-0.8858-0.8737.
So the strategic targets above the current price level look the following way:
- 0.9101-09 = confluence area of expanded objective point (XOP) and objective point (OP)
- 0.9189 = OP
The intermediate trend is also up, however corrective wave 4 is forming now (colored magenta on the chart). The targets of this wave are Fibonacci retracements of 0.8633-0.9068, 0.8737-0.9068 and expansions off 0.9068-0.8905-0.9042:
- 0.8941 = contracted objective point (COP)
- 0.8902 = confluence area of .382 and .50 retracements
- 0.8879 = OP
- 0.8863 = .618 ret
- 0.8851 = .50 ret



Overbought/Oversold
The Detrended Oscillator is now at the zero level. The nearest oversold level is 40-50 pips below (see corresponding Fibonacci supports there). Assuming that the major trend is still up it's good to look for a reversal signal against one of the listed Fibonacci supports for a buy.

Performed by Denis Strelkov, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, July 30, 2010 2010-07-30​

According to wave count this currency pair is developing corrective wave B of the intermediate uptrend (colored magenta on the chart). The longterm trend is also up - weekly wave C is developing (colored silver). The strategic targets of the weekly wave are Fibonacci expansions off 130.40-136.00-130.80:
- 136.40 = objective point (OP), reached already, may be a minor indication of reversal
- 139.86 = expanded objective point (XOP)
The targets of the corrective intermediate wave are Fibonacci retracement points of 130.80-137.53 and expansions off 137.53-135.86-136.87, 136.87-134.96-135.83.
Here are the nearest supports:
- 134.65 = contracted objective point (COP), reached already, may be an indication of reversal, especially considering the Detrended Oscillator's readings
- 134.17-133.92 = confluence area of .50 retracement, XOP, and OP
- 133.37 = .618 retracement
- 132.74 = XOP
- and so on, see the image



Overbought/Oversold
The Detrended Oscillator is in the oversold area. Assuming that the major trend is up, it's good to wait for a true reversal up against one of the Fibonacci levels, listed above.

Performed by Denis Strelkov, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

Wave analysis of EUR/USD for July 29, 2010 2010-07-29​

The EUR/USD price has continued to move in very narrow sideways corridor along the horizontal line identifying the correctional level of 61.8% (1.3000). it should be noted that for the euro such horizontal movement is not usual and can speak for accumulating potential ahead sharp and dynamic changes on the market. In any case, the ratio between the assumed waves 1 (or A) and 3 (or C) remains unreached for now and the 5th wave in 5th is incomplete.


Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010

Wave analysis of EUR/USD for July 30, 2010 2010-07-30​

Yesterday, the EUR/USD price hit the target level around 1.3100. Thus, it can be supposed that the current stage of the euro growth is coming to the end. Most likely, the completion of the formation of the 5th wave in the 5th (in 3 (or C)) should be awaited. At the same time, the price can form a top in quite wide price diapason, which starts at yesterday’s high and lasts to 1.3150.


Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010