Fundamental Analisis By InstaForex

[BudakFx]

Wave analysis of EUR/USD for August 4, 2010 2010-08-04​

Yesterday, EUR/USD ceased the movement only a few points away from 76.4% correctional level. Such situation one more time makes us be careful with keeping long positions. It was caused by that other estimated targets are placed around this level, for instance, the ratio between waves 1 (or A) and 3 (or C) equaled to 2 and estimated from the dimension of the 1st wave (or A). However, on the other hand, the lengthening in 3 (or C) rather requires a clearer picture of the completion. For now, it can be allowed that the 5th wave in 5 can finish slightly above the correctional level of 76.4%, perhaps closer to the mark of the 33rd figure.

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

 

[BudakFx]

Wave analysis of GBP/USD for August 4, 2010 2010-08-04​

Yesterday, the GBP/USD price managed to rise by another 80 points, having worked out the inner wave dimension of wave 3 in 3 (or C) well enough. In addition, close to yesterday’s high there is a ratio of 1.618 between waves 1 and 3 in 3 (or C). Thus, the existing situation make us be careful at this stage of the pound strengthening, as there is necessity of correctional movement within the future wave 4 in 3 (or C).


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

 

[BudakFx]

Wave analysis of USD/CHF for August 4, 2010 2010-08-04​

Having not managed to break through the correctional level of 76.4%, the USD/CHF price can begin moving in favor of the US dollar and finish the formation of wave 5 (in A ?). In any case, the current wave picture inside this 5 allows such possibility of the further perspective development on the Swiss currency. The consideration of target levels of such probable rollback is early because the possibility of continuation of quotations decline to the level of 1.0125 still exists.


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

 

[BudakFx]

Wave analysis of USD/JPY for August 4, 2010 2010-08-04​

The testing by the USD/JPY pair of the descending corridor can finish with some upward movement. It is because of that with the existing market direction in favor of the Japanese currency today’s low can determine wave 1 in the future 3 (in 5, in C). Anyway, the inner dimension of this supposed 1 allows the price rebound from the levels around the mark of 85.00.

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, August 5, 2010 2010-08-05​

Wave count on larger timeframes shows that this currency pair is now forming wave C of weekly degree (colored silver on the chart), its strategic targets are Fibonacci expansions points off waves A and B - 130.40-136.00-130.80:
- 136.40 = objective point (OP), reached already
- 139.86 = expanded objective point (XOP)
On smaller timeframes we have a set of three waves ABC where wave C is still developing (colored magenta). And withing the "magenta" wave C there's a set of 3 waves also, and potential subwave C (colored red) is developing. Therefore all the targets on smaller TF's are Fib expansions off 130.80-137.53-134.18 and 134.18-137.75-135.83:
- 138.04 = contracted objective point (COP)
- 138.34 = COP
- 139.40 = OP
If the price turns downwards the nearest supports will be Fib retracements of 135.83-137.47, 134.18-137.75, and 130.80-137.75:
- 136.46-39 = confluence area of .618 retracement and .382
- 135.94 = .50 ret
- 135.54 = .618 ret
- 135.10 = .382 ret
- and so on, see the img.



Overbought/Oversold
The Detrended Oscillator is in the oversold area. Assuming that the longer term trend is up, it's good to look for a reversal signal, since the market is near a Fibonacci support at the moment.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, August 5, 2010 2010-08-05​

Wave count on larger timeframes shows that this currency pair is standing in impulse daily wave C (colored royal blue on the chart). Waves A-B - 0.8314-0.8870-0.8633, and the nearest Fibonacci projection they give is:
- 0.9189 = objective point (OP)
On smaller TF's we have a set of 5 subwaves (within the daily C). Wave 5 is still developing (colored magenta). The targets from these waves are Fib-expansions off 0.8633-0.8858-0.8737 (waves 1-2) and 0.8737-0.9068-0.8905 (waves 3-4) - see the levels colored magenta.
There is also a set of 5 minor waves within wave 5 (colored red). They give their own Fib expansions: 0.8905-0.9042-0.8965 and 0.8965-0.9145-0.9107:
- 0.9181-87 = confluence area of contracted objective point (COP) and expanded objective point (XOP), exceeded by one pip (!)
- 0.9236 = OP
- 0.9250 = OP
In case the price declines the nearest supports will be Fibonacci retracements of 0.9070-0.9182, 0.8905-0.9182:
- 0.9139 = .382 retracement
- 0.9126 = .50
- 0.9113 = .618
- 0.9076 = .382
- and so on, see the img.



Overbought/Oversold
The Detrended Oscillator is approaching its zero level from below. Assuming that the major trend is up, this may be a good indication of a reversal, since the nearest Fib-support - 0.9139 - has been reached by the price (within 2 pips).

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, August 6, 2010 2010-08-06​

​

According to wave count on larger timeframes this currency pair is developing impulse wave C of weekly degree (colored silver on the chart), its strategic targets are Fibonacci expansions points off waves A and B - 130.40-136.00-130.80:
- 136.40 = objective point (OP), reached already
- 139.86 = expanded objective point (XOP)
On hourly timeframes we have a corrective wave (colored royal blue) against the movement 130.80-137.75. The targets of the corrective wave are Fibonacci retracements of 134.18-137.75, 130.80-137.75, and expansions off 137.75-135.83-137.47:
- 135.55-54 = confluence area of objective point (OP) and .618 retracement
- 135.10-02 = confluence area of .382 and .764 ret
- 134.36-28 = confluence area of expanded objective point (XOP) and .50 ret



Overbought/Oversold
The Detrended Oscillator has breached its previous peak down, indicating a corrective wave of a larger degree. At the moment longs are not favored. They'd better be considered against a nearest Fibonacci support (see above) some 70-90 pips below the current price level.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, August 6, 2010 2010-08-06​

According to wave count on H1, this currency pair has developed 5 waves of intermediate uptrend (colored red). Now above 0.9182 we may have an extension, and decline below 0.9116 and 0.9070 will indicate that wave 0.8905-0.9182 is over. The targets of the corrective movement are Fibonacci retracements of 0.8905-0.9182:
- 0.9076 = .382 retracement
- 0.9043 = .50 ret
- 0.9011 = .618 ret
- 0.8970 = .764 ret
In case the price breaks above 0.9182, its nearest targets will be:
- 0.9236 = objective point (OP)
- 0.9250 = OP



Overbought/Oversold
The Detrended Oscillator is around its zero level. The market is trading is a very narrow range. For a sure sign of an intermediate wave we need a break out of either 0.9182 or 0.9116 - and the following retracement against that movement will grant us opportunities to enter a position in the direction of the break out.

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

 

[Alakay]

sorry tt, please try upload a very clear chart using gif instead of
jpeg. i cant read much from the chart as its still blur image.

just my 2 sen.

 

[BudakFx]

sorry tt, please try upload a very clear chart using gif instead of
jpeg. i cant read much from the chart as its still blur image.

just my 2 sen.

boleh klik link kat tajuk pd setiap posting ..tq