Fundamental Analisis By InstaForex

[BudakFx]

Wave Analysis of GBP/USD for September 1, 2010 2010-09-01​

The recently appeared decrease of the GBP_USD pair rates continued yesterday, and the pound declined to the next correctional level of 76,4%. Though, the price is likely to be forming a structure of the 5th wave in the assumed 3rd (or C). It should be also mentioned that in spite of the stop in falling near 1.5330, the entire 5th wave at the moment does not look complete. Taking the stated above into consideration the descend of the currency pair into the direction of the nearest possible target around the level of 1.5200, or slightly below can be awaited.

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, September 2, 2010 2010-09-02

GBP/JPY Elliott wave count and Fibonacci levels, September 2, 2010 2010-09-02​

Wave count on hourly timeframe shows that this currency pair is now developing corrective wave B (colored red on the chart) within daily impulse C (colored light green). The targets of the corrective upside movement are still Fibonacci retracements of 133.59-128.64.

Resistances:

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

If the price breaks .618 retracement, daily wave C will be canceled.

The calculations for the downside movement are the following. The targets below are Fibonacci retracements of 128.64-130.91, and expansions off 137.75-128.77-133.59, 133.59-128.64-130.91.

Supports:

- 128.08 = contracted objective point (COP)
- 127.85 = COP
- 125.96 = objective point (OP)

The break of 128.64 will confirm subwave C (red) within the daily wave C.




Overbought/Oversold

The Detrended Oscillator is turning back from the oversold 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. However short-term positions within the corrective wave can not be ruled out for short-term traders.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels

AUD/USD Elliott wave count and Fibonacci levels, September 2, 2010 2010-09-02​

Wave count on hourly timeframe shows that this currency pair is now developing wave C within med term uptrend (colored red on the chart). The targets of the upside movement are Fibonacci expansions off 0.8772-0.9032-0.8862.

Resistances:

- 0.9120 = objective point (OP), the price stopped within 3 pips of this level
- 0.9279 = expanded objective point (XOP)

In case the price resumes its corrective movement down the nearest supports will be Fibonacci retracements of 0.8977-0.9117, 0.8862-0.9117.

Supports:

- 0.9064 = .382 retracement, reached already
- 0.9047 = .50 ret
- 0.9030-20 = confluence area of .618 and .382 retracements
- 0.8989 = .50 ret
- 0.8959 = .618 ret




Overbought/Oversold

The Detrended Oscillator is returning from the oversold area. Assuming that the med term trend is up, it's possible to look for bottoming signals to enter long against one of the Fibonacci supports listed above.

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

 

[BudakFx]

GBP/USD Wave Analysis

GBP/USD Wave Analysis for September 2 2010-09-02​

Moving in a very complicated manner GBP_USD price continues to form the expected correctional 3rd wave (or c). Regardless of that the yesterday’s reverse upwards began right from the correctional level of 76,4%, the 5th wave in this 3rd (or c) looks unfinished. So, we cannot exclude the fact that the price can retest the mentioned above level of correction with a possibility of the price falling to the level of the 53rd figure.

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, September 3, 2010 2010-09-03​

According to wave count this currency pair is still developing potential daily wave C (colored light green on the chart). Confirmation of this wave is the break of 128.64. The targets of the downside movement are Fibonacci expansions off 137.75-128.77-133.59, 133.59-128.64-130.91.

Supports:

- 128.04 = contracted objective point (COP)
- 127.85 = COP
- 125.96 = objective point (OP)

However if the corrective subwave B (colored magenta) continues, the nearest resistances will be Fibonacci retracements of 133.59-128.64 and expansions off 128.64-130.91-129.15.

Resistances:

- 130.55 = COP
- 131.12 = .50 retracement
- 131.42 = OP
- 131.70 = .618 ret
- 132.82 = expanded objective point (XOP)




Overbought/Oversold

The Detrended Oscillator is oscillating around the zero level for quite a long time, indicating a flat market. Assuming that the current upside movement is considered a corrective wave and with the prevailing trend down it's advisable to seek for topping signals against one of the Fibonacci resistances listed above to sell short.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, September 3, 2010 2010-09-03​

According to wave count this currency pair is now developing impulse wave C of the med term uptrend (colored red on the chart). Within wave C we already have a cycle of 3 waves and corrective wave 4.

As far as the upside movement is concerned, the nearest resistances are Fibonacci expansions off 0.8772-0.9030-0.8862 (waves AB - the red ones) and 0.8862-0.9005-0.8977 (subwaves AB - the orange red ones - within wave C).

Resistances:

- 0.9208 = expanded objective point (XOP)
- 0.9279 = XOP

In case the price goes down for a deeper correction the nearest supports will be Fibonacci retracements of 0.8977-0.9122 and 0.8862-0.9122.

Supports:

- 0.9067 = .382 retracement
- 0.9050 = .50 ret
- 0.9032 = .618 ret
- 0.9023 = .382 ret
- 0.8992 = .50 ret
- 0.8961 = .618 ret




Overbought/Oversold

The Detrended Oscillator is returning up from the oversold area. However judging by its recent behaviour we can conclude that the market is very flat. Assuming that the prevailing trend is still up it's advisable to seek for bottoming signals against one of the Fibonacci supports listed above, or stand aside to be on the safe side.

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels

GBP/JPY Elliott wave count and Fibonacci levels, September 6, 2010 2010-09-06​

According to wave count this currency pair is now developing potential wave C of daily degree (colored light green on the chart). The strategic targets of the downside movement are Fibonacci expansions off 137.75-128.77-133.59. Wave C is confirmed on 128.64 break, cancelled - 133.59. It may be cancelled even sooner in case a wave of the same degree develops.

The currend med term uptrend is considered a corrective movement. The targets of the upside movement are Fibonacci retracements of 133.59-128.64 and expansions off 128.64-130.91-129.15.

Resistances:

- 131.70 = .618 retracement, the price reversed within 5 pips
- 132.82 = expanded objective point (XOP)

In case the price resumes its downside movement, the targets are retracements of 128.64-131.65:

- 129.79 = .618 ret
- 128.04 = contracted objective point (COP)




Overbought/Oversold

The Detrended Oscillator is moving into the oversold area. Assuming that the prevailing (daily) trend is down and the movement up is corrective, now it may be a good moment to look for short entries.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels

AUD/USD Elliott wave count and Fibonacci levels, September 6, 2010 2010-09-06​

According to wave count this currency pair is now developing impulse wave C of the med term uptrend (colored red on the chart). Within wave C we already have a cycle of 5 waves.

As far as the upside movement is concerned, the nearest resistances are Fibonacci expansions off 0.8772-0.9030-0.8862 (waves AB - the red ones), 0.8862-0.9005-0.8977 (subwaves 1-2 - the orange red ones - within wave C), and 0.8977-0.9122-0.9068 (subwaves 3-4)

Resistances:

- 0.9208-13 = confluence area of expanded objective point (XOP) and objective point (OP)
- 0.9279 = XOP
- 0.9303 = XOP

In case the price goes down for a correction the nearest supports will be Fibonacci retracements of the wave up starting from 0.8862 (wave not developed yet).




Overbought/Oversold

The Detrended Oscillator is moving up to the overbought area. Assuming that the prevailing trend is still up it's advisable to seek for bottoming signals against one of the Fibonacci supports or in the oversold area which is 30-40 pips below the curren price according to the oscillator.

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels

GBP/JPY Elliott wave count and Fibonacci levels, September 7, 2010 2010-09-07​

Pound/yen is still developing daily downtrend within wave C (colored light green on the chart). Within this wave we have a set of A-B waves (colored magenta) and wave C developing. The latter will be confirmed on 128.64 break.

The targets of the downside movement are Fibonacci expansions off 137.75-128.77-133.59 (daily A-B), 133.59-128.64-131.65 (hourly A-B - the magenta wavws), and 131.65-129.82-130.64, 130.64-129.24-129.79 (waves 1-2 and 3-4, colored yellow).

Supports:

- 128.81 = objective point (OP, reached precisely!)
- 128.59 = contracted objective point
- 128.39 = OP
- 128.04 = COP
- 127.68 = expanded objective point (XOP)
- 126.70 = О

In case the price turns up the nearest resistances will be represented by Fibonacci retracements of the downwave starting from 131.65 - this downwave will be formed on 129.79 break.




Overbought/Oversold

The Detrended Oscillator is oscillating around the zero level. Assuming that the prevailing trend is down it's reasonable to look for topping signals against Fibonacci resistances (not yet developed). Therefore stand aside. The nearest overbought area is 60-70 pips above the current price.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels

AUD/USD Elliott wave count and Fibonacci levels, September 7, 2010 2010-09-07​

According to wave count this currency pair has just developed 5 waves of med term uptrend (colored red on the chart). And now corrective wave A is being formed.

The targets of the downside movement are Fibonacci retracements of 0.9068-0.9183, 0.8862-0.9183, and 0.8772-0.9183.

Supports:

- 0.9112 = .618 retracement
- 0.9060 = .382 ret
- 0.9026-23 = confluence area of .382 and .50 retracements
- 0.8985-78 = confluence area of .618 and .50 retracements
- 0.8929 = .618 ret

In case the price breaks above 0.9183 and resumes upside movement the nearest targets will be the old Fibonacci expansions off 0.8772-0.9030-0.8862 and the new ones off 0.8862-0.9122-0.9068.

Resistances:

- 0.9229 = contracted objective point (COP)
- 0.9279 = expanded objective point (XOP)




Overbought/Oversold

The Detrended Oscillator is in the oversold area. The oscillator has breached the previous down peaks - indicating a change in the trend. Therefore it's advisable to wait for a retracement that does not change the structure of the downtrend and look for a topping signal to enter short. The nearest overbought area to watch for is 50-60 above the current price.

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