Fundamental Analisis By InstaForex

[BudakFx]

EUR/USD Wave Analysis. Weekly Review. 2010-08-30​

On Tuesday, having hit the low of 1.2585 the EUR_USD price started to reverse in favor of the euro. Thus, the falling of the rates which has been developing after August 6 let the euro to decrease to the correctional level of 61.8%, calculated as to the length of the uprising 3rd wave (or C). In this respect, it can be assumed that the market is retaining the growth potential for the pair and if it is renewed, it is able to form a 5-wave structure in the limits of the whole ascending trend, which has been forming since early June. Moreover, the correlation between the waves a and c of the current declining part, which also equals to 61,8% allows to consider the option of the uprising movement restart versus the US dollar. However, on the other hand, if the decline continues, the price can easily reach the marks around the 22nd figure.

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

 

[BudakFx]

Wave Analysis of the USD/JPY Currency Pair for August 30, 2010 2010-08-30​

On Friday, the USD_JPY price was forming the expected upside correction versus the decreasing part of the trend, taking start on July 28. Besides, considering the ratio of this correction waves it can be assumed that the rates will grow to the direction of the level 86,40. However, taking into account the indicators’ overbought position it should not be excluded that the declining trend versus the US dollar can renew. Anyway, a very difficult wave image of the expected 5th wave suggests consideration of such future for the currency pair.

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

 

[IFX Darika]

Dollar Rally Stalls After BoJ Disappoints

The dollar struggled for direction Monday morning as traders contined to digest Friday's remarks from Federal Reserve Chairman Ben Bernanke, who said the US economic recovery is on track.

Still, this week's deluge of data is likely to confirm that the economy is slowing down. In addition to the government's monthly jobs report, traders will be treated to data on the pending homes sales, manufacturing, and consumer confidence.

US personal spending is estimated to have risen by 0.3% in July, helped by a small bounce in core retail sales and solid auto sales. At the same time, economists estimate a 0.2% increase in personal income.

The dollar came under pressure versus the yen in early dealing, giving back most of its rebound from the previous session. The buck slipped to 84.60, moving back towards a recent 15-year low of 83.63.

The Bank of Japan announced an expansion to its low-interest lending program after an extraordinary policy board meeting on Monday. At the same time, the bank also maintained its key interest rate at near-zero.

The buck firmed a bit versus the euro, improving to $1.2700 from $1.2765. At the same time, the dollar remained stuck in the mud near $1.5550 against the sterling.

The British Chambers of Commerce hiked U.K.'s 2010 GDP growth forecast to 1.7% from the earlier 1.3%. Similarly for 2011, the Chamber upped its forecast to 2.2% from the 2% predicted in June.

Eurozone economic confidence rose in August to 101.8 from 101.1 in July, a monthly survey from the European Commission showed Monday. The economic sentiment index remained above its long-term average and expected reading of 101.6.

News are provided by InstaForex.

 

[IFX Darika]

thanks for the news

You are always welcome!

 

[akusebenar]

very valueble news.. Dollar Rally Stalls After BoJ Disappoints..high impact to market today

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, August 31, 2010 2010-08-31​

Wave count on hourly timeframe shows that this currency pair might be developing potential A wave (colored magenga) of the greater downward cycle ABC - colored light green on the chart. The strategic targets of the downside movement are Fibonacci expansions off 137.75-128.77-133.59 and 133.59-130.63-130.94:

- 129.11 = contracted objective point (COP)
- 128.04-127.98 = confluence area of COP and objective point (OP)
- 126.15 = expanded objective point (XOP)
- 124.61 = OP (off daily waves AB - light green)

The pair has retraced from .50 retracement point of 137.75-128.77 (see the chart).

In case the price turns up for a correction the targets of the upside movement will be Fibonacci retracements of the downwave starting from 133.59.




Overbought/Oversold

The Detrended Oscillator is in the oversold area. The nearest overbought area is 60-80 pips above the current price. Assuming that the prevailing trend turning down, it's advisable to seek for topping signals against the overbought area or Fibonacci resistances to enter short.

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, August 31, 2010 2010-08-31​

Wave count on hourly timeframe shows that this currency pair is develping subwave C (colored yellow) within wave B (colored red) of a larger degree. However the break of 0.8772 will indicate that the downwave is actually an impulse.

The targets of the downside movement are Fibonacci expansions off 0.9221-0.8772-0.9032 and 0.9032-0.8912-0.8957 and retracements of 0.8314-0.9221:

- 0.8883 = contracted objective point (COP), reached already
- 0.8837 = objective point (OP)
- 0.8768-63-55 = confluence area of .50 retracement, expanded objective point (XOP) and COP
- 0.8660-43 = confluence area of .618 ret and super expanded objective point (SXOP)

In case the price resumes its upside movement the nearest resistances will be Fibonacci retracements of the downwave starting from 0.9030.




Overbought/Oversold

The Detrended Oscillator is in the oversold area. Assuming that the major trend might be turning down it's advisable to stand aside now and seek for topping signals when the price gets into the overbought area some 60-80 pips above the current level.

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

Wave Analysis of the EUR/USD pair for August 31, 2010 2010-08-31

Wave Analysis of the EUR/USD pair for August 31, 2010 2010-08-31​

The renewed yesterday decrease of EUR_USD seems to have fixed the ending of the 4th wave in the 3rd (or C). If it proves right, the continuation of the euro rates falling and the formation of the 5th wave in the 3rd (or C) can be awaited. Besides, taking into consideration the inner dimension of this expected 3rd (or C), the first possible target for it can be 1.2545-1.2540, which moreover, corresponds to 61.8% of the current correction. At the same time, any break through the minimum since August 24 opens the way for the pair to the area of 1.2300, where the equality of the expected A and C waves is located.

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, September 1, 2010 2010-09-01​

According to wave count on hourly timeframe this currency pair is now developing corrective wave B (colored red on the chart) within impulse C (colored light green) of a larger degree. The strategic targets of the downside movement are Fibonacci expansions off 137.75-128.77-133.59.

Supports:

- 128.04 = contracted objective point (COP)
- 124.61 = objective point (OP)

While the move up is so far considered corrective, its targets are Fibonacci retracements of 133.59-128.64.

Resistances:

- 130.53 = .382 retracement
- 131.12 = .50 ret
- 131.70 = .618 ret

Subwave C (red) will be confirmed on 128.64 break.




Overbought/Oversold

The Detrended Oscillator is in the overbought area. Assuming that the prevailing trend is down and the current move up being corrective, it's advisable to seek for topping signals against one of the Fibonacci resistances listed above to enter short.

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, September 1, 2010 2010-09-01​

According to wave count on hourly timeframe, this currency pair is now moving in pontential wave C (colored red on the chart) that is within corrective wave B (colored light green) of a larger degree. The targets of the upside movement are Fibonacci retracements of 0.9221-0.8772 and expansions off 0.8772-0.9030-0.8862.

Resistances:

- 0.9021 = contracted objective point (COP)
- 0.9049 = .618 retracement
- 0.9120 = objective point (OP)

In case the price resumes its downside movement the strategic supports are Fibonacci expansions off 0.9221-0.8772-0.9032 and 0.9032-0.8912-0.8957 and retracements of 0.8314-0.9221.

Supports:

- 0.8768-63-55 = confluence area of .50 retracement, expanded objective point (XOP) and COP
- 0.8660-43 = confluence area of .618 ret and super expanded objective point (SXOP)




Overbought/Oversold

The Detrended Oscillator is in the overbought area. Assuming that the movement up is considered corrective from the longer term perspective, it's advisable to stand aside until ABC cycle indicating a larger wave down appears. For short term entries the oversold area some 40-50 pips below may be cosidered the support to look for bottoming signals for long positions.

Performed by Roman Molodiashin, Analytical expert
InstaForex Companies Group © 2007-2010