Fundamental Analisis By InstaForex

[BudakFx]

USD/JPY Wave Analysis

USD/JPY Wave Analysis for September 7, 2010 2010-09-07​

USD/JPY is demonstrating the inclination to resume the declining trend versus the US dollar. If these attempts are successful, the Friday peak will be the high of the 2nd wave in the 5th. Thus, we can expect the recurrent falling of the rates to the fresh lows of a few years.
However, it is still early to speak in favour of this decline for sure.

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

 

[BudakFx]

USD/CHF Wave Analysis

USD/CHF Wave Analysis for September 7, 2010 2010-09-07​

Yesterday the USD/CHF pair continued the having started on Friday decline versus the US dollar. Besides, it is likely that after the end of the formation of the 4th wave in the 5th (or C) the current decline is developing within the forming 5th wave in the 5th. If it confirms, the price can decline to the mark 1.0050, or even to 1.0030. It should be mentioned that from the above targets a recoil of the market in favour of the US dollar can follow.

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

 

[BudakFx]

GBP/USD Wave Analysis

GBP/USD Wave Analysis for September 7, 2010 2010-09-07​

The yestarday’s dynamic decline of the rates for the GBP/USD pair can cause the development of the outlined decreasing movement and correspondingly to a deep falling of the pound price. Thus, our assumptions as to the market movement after the 18th of August to have formed a wave structure of an inclined wedge, can confirm. If it is so, the local maximum of yesterday can be the completing wave of this triangle and so it is possible to expect for the price decline off the pair to the level of the 52nd figure.

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

 

[BudakFx]

EUR/USD Wave Analysis

EUR/USD Wave Analysis for September 7, 2010 2010-09-07​

It seems that yesterday the EUR/USD pair finished the formation of the expected c-wave (or the 3rd). Anyway, currently, its inner wave structure looks completed enough. Moreover, this possible ending of c-wave (or the 3rd), is also confirmed by the worked out ratio between the waves a (or 1) and c (or 3) equaling to 1,618 according to Fibo. Besides, the placement of the indicators does not contradict the potential beginning of the decreasing trend on the market against the euro.

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

 

[IFX Darika]

Dollar Stuck Near 1995 Lows Against Yen

The dollar continued to hover around a 15-year low versus the yen but eked out gains versus the euro Tuesday morning in New York, as traders returned to their desks following the Labor Day weekend.
Stocks rose on Friday after better-than-expected jobs data, but momentum has not carried over into this week. Stocks are down around the world this morning amid renewed fears about the European banking system.

The dollar was again testing its worst levels since 1995 versus the yen, slipping to 83.80 in very early dealing. Two weeks ago, the dollar hit a 15-year low of 83.58.

The Bank of Japan maintained its key interest rate at near-zero at the end of its two-day policy meeting on Tuesday. It also promised to take more policy actions if judged necessary to kick start the deflation-ravaged economy.

Still, the markets have considered the BoJ's recent moves far too tepid to either bolster the economy or stop the yen from rising further.

Germany's factory orders declined 2.2% in July from the prior month, the Federal Ministry of Economics and Technology said on Tuesday. Economists were expecting factory orders to rise 0.5%.

The dollar rose to 1.2750 versus the euro, up a penny from Monday morning. The pair has been unable to sustain any direction for the past month.

The buck bounced back and forth near 1.5360 versus the sterling, having edged higher over the past few weeks.

News are provided by InstaForex.

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels

GBP/JPY Elliott wave count and Fibonacci levels, September 8, 2010 2010-09-08​

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 was confirmed on 128.64 break. However from a minor perspective this wave is being corrected.

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), 131.65-129.24-129.79.

Supports:

- 128.04 = contracted objective point (COP) off daily waves; reached already (!)
- 127.38 = objective point (OP)
- 126.70 = О
- 125.89 = expanded objective point (XOP)

The targets of the corrective upside movement are Fibonacci retracements of 131.65-127.89 and expansions off 127.89-128.88-128.04.

Resistances:

- 129.33 = .382 retracement
- 129.64 = XOP
- 129.77 = .50 ret
- 130.21 = .618 ret
- 130.63 = super expanded objective point (SXOP)




Overbought/Oversold

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

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 8, 2010 2010-09-08​

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. This wave will be cancelled on 0.9183 break. Under this scenario wave C will start developing with the following targets - Fibonacci expansions off 0.8772-0.9030-0.8862, 0.8862-0.9122-0.9068, 0.9068-0.9183-0.9091, 0.9091-0.9148-0.9099.

Resistances:

- 0.9191 = expande objective point (XOP)
- 0.9206 = objective point (OP)
- 0.9229 = contracted objective point (COP)
- 0.9248 = super expanded objective point (SXOP)
- 0.9277-79 = confluence area of XOP's

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

Supports:

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




Overbought/Oversold

The Detrended Oscillator is in the overbought area. Assuming that the corrective wave is still developing, it's advisable to seek for topping stinals before 0.9183 break to enter short. In case 0.9183 is broken to the upside, the priorities will change for longs.

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 9, 2010 2010-09-09​

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 was confirmed on 128.64 break. However from a minor perspective this wave is being corrected. The correction might be over, since .618 (130.21) has been perfectly reached. To confirm continuation of wave C the price has to break out 127.89 to the downside.

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 waves), and 131.65-127.89-130.30. We should also consider Fib retracements of 127.89-130.30.

Supports:

- 128.82 = .618 retracement
- 127.98 = contracted objective point (COP)
- 126.70 = objective point (О )
- 126.54 = OP

The targets of the corrective upside movement are Fibonacci retracements of 131.65-127.89.

Resistances:

- 130.21 = .618 ret; reached already (!)




Overbought/Oversold

The Detrended Oscillator is in the oversold area. The nearest overbought is 80-90 pips above the current price (according to the oscillator). Assuming that the prevailing trend is down, it's advisable to seek for topping signals against Fibonacci resistances of in the overbought area to enter short.

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 9, 2010 2010-09-09​

According to wave count this currency pair is developing wave 5 of the mid term uptrend. Within the latter we have a sequence of 5 subwaves, with subwave 5 developing.

Now the targets of the upside movement are Fibonacci expansions off 0.8772-0.9032-0.8862 (waves 1-2 - colored magenta), 0.8862-0.9183-0.9091 (waves 3-4), and expansions off minor waves 0.9091-0.9148-0.9099, 0.9099-0.9195-0.9165.

Resistances:

- 0.9224 = contracted objective point (COP); reached already (!)
- 0.9248-61 = confluence area of super expanded objective point (SXOP) and objective point (OP)
- 0.9283-89 = confluence area of strategic levels - expanded objective point (XOP) and COP
- 0.9320 = XOP

In case the price reverses down for a correction the nearest supports will be provided by Fibonacci retracement points of the wave up starting from 0.9091 (wave not formed yet).




Overbought/Oversold

The Detrended Oscillator is slightly above the zero level with overbought some 20 pips above the current price and oversold - some 30 pips below. Assuming that the prevailing trend is up it's advisable to seek for bottoming signals against one of the Fibonacci resistances or in the oversold area to enter long.

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 10, 2010 2010-09-10​

Pound/yen is still developing daily downtrend within wave C (colored light green on the chart). However within this wave we have a set of A-B daily waves (colored royal blue) with wave B being corrective. So the targets of the upside movement are Fibonacci retracements of the daily A wave (royal blue) 133.59-127.89, and expansions off A-B hourly waves (the red ones) 127.89-130.30-128.55.

Resistances:

- 130.04 = contracted objective point (COP)
- 130.74 = .50 retracement
- 130.96 = objective point (OP)
- 131.41 = .618 ret
- 132.45 = expanded objective point (XOP)

In case the price reverses to continue the daily downtrend, the nearest support will be Fibonacci projection off 137.75-128.77-133.59.

Support:

- 128.04 = contracted objective point (COP)


http://instaforex.com/forex_analysis/14646/

Overbought/Oversold

The Detrended Oscillator is moving up from the red zone. Assuming that the movement up is corrective it's advisable to stand aside if you seek for long-term trends. However short term longs are favored on weaknesses, e.g. the nearest oversold is 50-60 pips below the current price.

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