Fundamental Analisis By InstaForex

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, October 19, 2010 2010-10-19​

This currency pair is still developing daily wave C - colored royal blue in the chart. Within this wave there's wave C that is still developing - colored magenta in the chart. Within the latter wave C there's corrective subwave B developing, it's colored red in the chart. The targets of the corrective upmove are Fibonacci retracements of 130.69-128.66 and expansions off 128.66-129.44-128.89.

Resistances:

- 129.37 = contracted objective point (COP)
- 129.44 = .382 retracement
- 129.67-68 = confluence area of objective point (OP) and .50 ret
- 129.91 = .618 ret

In case the price continues the downtrend the nearest supports will be Fibonacci expansions off 135.03-130.78-132.93 (daily waves A-B), 132.93-128.97-130.69 (subwaves within daily C), and still smaller waves 130.69-128.66-129.44.

Supports:

- 128.68 = objective point (OP), reached almost precisely (!)
- 128.24-19 = confluence area of two contracted objective points (COP)
- 127.41 = OP




Overbought/Oversold

The Detrended Oscillator is oscillating around the zero level, confirming the flat. Assuming that the larger waves are heading down it's preferable to wait for deep retracements up to Fibonacci resistances and seek for topping signals to enter short.

Read more on how to apply Fibonacci studies to calculate price targets.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, October 19, 2010 2010-10-19​

AUD/USD is moving within corrective wave 4 of the daily degree - colored royal blue in the chart. This wave is a subwave within wave C of a larger degree - colored light green in the chart.

The targets of the corrective downmove are Fibonacci retracements of 0.9541-1.0002, 0.9708-1.0002, and expansions off 1.0002-0.9800-0.9956.

Supports:

- 0.9831 = contracted objective point (COP)
- 0.9771 = .50 ret
- 0.9754 = objective point (OP)
- 0.9717 = .618 ret
- 0.9629 = expanded objective point (XOP)

In case the price reverses up the nearest resistance once again will be the psychological level 1,0000.




Overbought/Oversold

The Detrended Oscillator is in the oversold area. And as the medium term trend is down it's preferable to seek for topping signals to enter short, e.g. when the price gets above the zero level - 30-40 pips to go.

Read more on how to apply Fibonacci studies to calculate price targets.

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, October 20, 2010 2010-10-20​

Pound/yen is developing subwave C (colored magenta) within wave C of the larger degree - colored royal blue. Within the smaller wave there's a set of 4 waves with corrective wave 4 developing - colored red on the chart.

The targets of the corrective move are Fibonacci retracements of 128.66-127.40, 129.44-127.40, and 130.69-127.40.

Resistances:

- 128.03 = .50 retracement
- 128.18 = confluence area of .382 and .618 retracements
- 128.66 = confluence area of .618 and .382 retracements
- 129.05 = .50 ret
- 129.43 = .618 ret

If the price breaks below 127.40 to continue the downtrend the nearest supports will be Fibonacci expansions off 135.03-130.78-132.93 (daily waves A-B), 132.93-128.97-130.69 (subwaves within daily C), and still smaller waves 130.69-128.66-129.44.

Supports:

- 126.73 = objective point (OP)
- 126.16 = expanded objective point (XOP)
- 126.05 = XOP




Overbought/Oversold

The Detrended Oscillator is slightly above the zero level. Assuming that the prevailing trend is down, now is a good opportunity to get a topping signal to enter short.

Read more on how to apply Fibonacci studies to calculate price targets.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, October 20, 2010 2010-10-20​

This currency pair has developed wave 0.8772-1.0002. Now the pair is moving within a corrective wave to this movement. The targets of the corrective downmove are Fibonacci retracements of 0.8772-1.0002, 0.8066-1.0002, and also Fibonacci expansions off 1.0002-0.9800-0.9956.

Supports:

- 0.9629 = expanded objective point (XOP)
- 0.9606 = super expanded objective point (SXOP)
- 0.9532 = .382 retracement

In case the price keeps advancing the nearest resistances will be Fibonacci retracements of 0.9902-0.9662, 0.9956-0.9962.

Resistances:

- 0.9774-82 = confluence area of .382 and .50 retracements
- 0.9809-10 = confluence area of .50 and .618 retracements
- 0.9844 = .618 retracement




Overbought/Oversold

The Detrended Oscillator is in the oversold, and, assuming that the medium term trend is down, it's a good opportunity to short the market on confirmation of topping signal.

Read more on how to apply Fibonacci studies to calculate price targets.

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

 

[IFX Svetlana]

No EU Members Record Government Surplus In 2009: Eurostat

No member state of the European Union recorded a government surplus in 2009, latest data from the statistical office Eurostat showed Friday.

The largest government deficits in percentage of GDP were recorded in Ireland and the U.K. In Ireland, the deficit was 14.4% of GDP and that in the UK at 11.4%. The lowest deficit was recorded in Luxembourg, at 0.7% in 2009.

The statistical office postponed the publication of figures for Greece to mid November as it is undertaking a process of quality assessment of statistical source data from public accounts, in cooperation with the Greek Statistical Office and the Greek Court of Auditors.

News are provided by InstaForex.

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, October 25, 2010 2010-10-25​

Pound/yen is moving within wave 5 of the long term downtrend - colored royal blue in the chart. The strategic targets of the downside movement are Fibonacci expansions off 135.03-130.78-132.93 (waves 1-2), 132.93-127.33-129.21 (waves 3-4), and 129.21-127.07-127.86 (minor waves in wave 5).

Supports:

- 126.54 = contracted objective point (COP)
- 126.05 = expanded objective point (XOP)
- 125.75-72 = confluence area of COP and objective point (OP)

In case the price does not break below 127.07 and reverses up for a correction the nearest resistances will be Fibonacci retracements of 129.21-127.07.

Resistances:

- 127.89 = .382 retracement
- 128.14 = .50 ret
- 128.39 = .618 ret




Overbought/Oversold

The Detrended Oscillator is in the oversold. Assuming that the prevailing trend is down now is not the time to enter short. It's preferable to wait for a retracement to a Fib resistance (see listed above) or when the price gets into the overbought area - 30-40 pips to go.

Read more on how to apply Fibonacci studies to calculate price targets.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, October 25, 2010 2010-10-25​

According to wave count, before 1.0002 is broken to the upside this currency pair is moving within corrective wave B to wave A 1.0002-0.9662. The targets of the corrective wave are Fibonacci expansions off smaller waves within it: 0.9662-0.9889-0.9742, 0.9742-0.9853-0.9757, 0.9757-0.9844-0.9778. In case the price breaks above 1.0002 the near term targets will remain basically the same as listed.

Resistances:

- 0.9969 = objective point
- 1.0006 = super expanded objective point (SXOP)
- 1.0048 = SXOP

If the price reverses down the nearest supports will be Fibonacci retracements of the wave up starting from 0.9742 - this wave is not yet developed.




Overbought/Oversold

The Detrended Oscillator has breached the previous high indicating a stronger wave. Assuming that until 1.0002 the trend may turn down it's preferable to seek for topping signals to enter short - when the price hits a next Fibonacci resistance or gets into the oversold - 15-20 pips to go.

Read more on how to apply Fibonacci studies to calculate price targets.

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

 

[BudakFx]

Wave analysis of the USD/JPY for October 25, 2010 2010-10-25​

Despite an excessive volatility the USD/JPY continues its movement in a horizontal band. Amid this quite probable that the last Wednesday (80,80) can become a finish of the 3d wave (in the 5th). If so then there are reasons to wait for continuation of the 4th wave in the 5th. That is why the first target of the current dollar uptrend can be the Fibonacci correction level 38,2% near the 82d figure.

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

 

[BudakFx]

Wave analysis of the USD/CHF for October 25, 2010 2010-10-25​

On Friday the USD/CHF currency pair continued its upward movement within the up-directed correction in favor of dollar. Amid this, taking into account the risen dynamics of rates increase there is a probability of a deep rollback to the upside within the shaping 4th wave (in the 5th) up to the levels of price parity.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, October 28, 2010 2010-10-28​

AUD/USD has confirmed subwave C (colored magenta in the chart) within corrective wave 4 of weekly degree (colored plum in the chart). The price has exceede the top of subwave A - 0.9662. Within this wave C there's a set of A-B, wave B is still developing. Its targets are Fibonacci retracements of 0.9867-0.9651, and 0.9973-0.9651.

Resistances:

- 0.9759 = .50 retracement
- 0.9774-84 = confluence area of .382 and .618 retracements
- 0.9812 = .50 ret
- 0.9850 = .618 ret

In case the price resumes midterm downtrend and breaks below 0.9651 the nearest supports will be Fibonacci expansions off 1.0002-0.9662-0.9973, and retracements of 0.8772-1.0002.

Supports:

- 0.9633 = objective point (OP)
- 0.9532 = .382 ret




Overbought/Oversold

The Detrended Oscillator is moving back from the overbought to the zero level, possibly confirming the leg up from 0.9651 is over. Assuming that the medium term trend is down it's preferable to seek for topping signals to enter short when the price hits a Fibonacci resistance or gets into the overbought again - 15-25 pips to go.

Read more on how to apply Fibonacci studies to calculate price targets.

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