Fundamental Analisis By InstaForex

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, September 21, 2010 2010-09-21​

According to wave count AUD/USD is now trading in wave C of the medium term uptrend (waves colored magenta). Within this wave C we have a set of A-B-C waves (colored red) of smaller degree, that give additional targets above the current price level.

At the moment the nearest resistances are Fibonacci expansions off 0.8772-0.9183-0.9091, 0.9091-0.9456-0.9330, and 0.9330-0.9468-0.9355.

Resistances:

- 0.9493 = objective point (OP), reached exactly (!)
- 0.9502 = OP (off daily waves, colored royal blue)
- 0.9556 = contracted objective point (COP)
- 0.9578 = expanded objective point (XOP)
- 0.9695 = OP

In case the price reverses down for a correction the nearest supports will be Fibonacci retracements of 0.9355-0.9493.

Supports:

- 0.9440 = .382 retracement
- 0.9424 = .50 ret
- 0.9408 = .618 ret




Overbought/Oversold

The Detrended Oscillator is oscillating around the zero level. This type of movement confirms a very slow uptrend. Assuming that the aussie is still moving within an uptrend, it's advisable to look for bottoming signals to enter long against one of the Fibonacci supports (see above) or when the price gets into the oversold area (30-40 pips below the current price).

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

 

[BudakFx]

Wave Analysis of EUR/USD for September 21, 2010 2010-09-21​

The consolidation of the EUR/USD pair around the levels of 1.3050 — 1.3100 is likely to denote that the 5th wave of the entire uprising movement developing since late August has actually completed. Thus, it can be assumed that the started on Friday rates decrease could have marked the 1st wave of the future descending part which in prospect has a chance to obtain a form of the correctional series of waves abc. By farm, the earlier reached high at 1.3155, can be considered the peak of the wave A of the future prolonged horizontal wave structure.

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

 

[BudakFx]

Wave Analysis of GBP/USD for September 21, 2010 2010-09-21​

Yesterday decrease of GBP/USD to the level of 1.5535 has complicated the inner wave structure of the assumed wave c (or the 3rd) which has been developing after September 10. Thus, it can be expected that the high of the last Friday is the peak of the 3rd wave in this assumed c (or the 3rd). Correspondingly, if it is so, at the moment the price is in the correctional stance thus forming the structure of the 4th wave in (or the 3rd).

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, September 22, 2010 2010-09-22​

According to wave count this currency pair is now moving within corrective wave to the impulse 127.61-135.03. This downside movement will be over in case 133.39 is broken to the upside, since this level is the last top and the base of wave 5 (colored yellow). If 133.39 remains intact and the price keeps moving downwards, then the nearest targets will be Fibonacci retracements of 127.62-135.03 and expansions off 135.03-133.86-134.43, 134.43-133.11-133.39.

Supports:

- 132.20 = 0.382 retracement
- 132.07 = objective point (OP)
- 131.37-35-32 = confluence area of super expanded objective point (SXOP), .50 retracement and expanded objective point (XOP)
- 130.45 = 0.618 ret
- 129.93 = SXOP

The downside movement will be over if 133.39 is broken to the upside, since this level is the base of the last subwave 5. In this case the targets of the upside movement will be Fibonacci retracements of 135.03-132.35.

Resistances:

- 133.36 = .382 retracement
- 133.68 = .50 ret
- 134.00 = .618 ret




Overbought/Oversold

The Detrended Oscillator is in the overbought area. Assuming that the med term trend might be reversing up (that downside movement was a corrective wave), it's advisable to stand aside until a retracement happens - either to a Fibonacci support, or into the oversold area - 25-35 pips below the current price. Longs are favored only in case of bottoming signals.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, September 22, 2010 2010-09-22​

According to wave count AUD/USD is now developing wave C of the med term uptrend (waves colored magenta). Within this wave C we already have a set of A-B-C waves (colored red) of smaller degree, that give additional targets above the current price level. And within the latter there's also a set of short term waves (colored orange red). In general, the targets above the current price level are Fibonacci expansions off 0.8772-0.9183-0.9091 (daily A-B waves, colored royal blue), 0.9091-0.9456-0.9330 (med term waves A-B, colored magenta), 0.9330-0.9468-0.9355 (A-B waves of smaller degree, colored red), and 0.9355-0.9493-0.9441 (the orange red waves - A-B).

Resistances:

- 0.9578-79 = confluence area of expanded objective point (XOP) and objective point (OP), reached (!)
- 0.9664 = XOP
- 0.9695 = OP
- 0.9716 = super expanded objective point (SXOP)

In case the price reverses down for a correction the nearest supports will be Fibonacci retracements of 0.9441-0.9582.

Supports:

- 0.9528 = .382 retracement
- 0.9512 = .50 ret
- 0.9495 = .618 ret




Overbought/Oversold

The Detrended Oscillator is moving into the oversold. Assuming that the prevailing trend is up, it's advisable to seek for bottoming sibnals to enter long now (since the oversold is here), or wait until the price hits a Fibonacci support (listed above).

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

 

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[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, September 23, 2010 2010-09-23​

According to wave count this currency pair is now developing impulse wave C of the corrective A-B-C cycle. This cycle is considered a corrective wave to the impulse 127.62-135.03. The nearest targets below the current level are Fibonacci retracements of 127.62-135.03, and expansions off 135.03-132.33-133.39.

Supports:

- 131.72 = contracted objective point (COP), reached already (!)
- 131.32 = .50 retracement
- 130.69 = objective point (OP)
- 130.45 = .618 ret
- 129.02 = expanded objective point (XOP)

In case the price keeps moving up the nearest resistances will be Fibonacci retracements of 133.39-131.70.

Resistances:

- 132.54 = .50 ret, reached already
- 132.74 = .618 ret




Overbought/Oversold

The Detrended Oscillator is now oscillating around the zero level, confirming the flat. Assuming that the prevailing trend is down, it's advisable to seek for topping signals against one of the Fibonacci resistances or in the overbought (15-20 pips above the current price), and then initiate short positions.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, September 23, 2010 2010-09-23​

According to wave count AUD/USD is now trading in corrective subwave 4 (colored red) of the impulse wave C (colored magenta). The targets of the corrective down wave are Fibonacci retracements of 0.9330-0.9599, 0.9355-0.9599, 0.9441-0.9599.

Supports:

- 0.9520 = .50 retracement
- 0.9506-01 = confluence area of .382 and .618 retracements
- 0.9477 = .50 ret
- 0.9465 = .50 ret
- 0.9448 = .618 ret
- 0.9433 = .618 ret

In case the price breaks above 0.9599 the nearest resistances will be Fibonacci expanions off 0.9091-0.9456-0.9330 and 0.9330-0.9468-0.9355.

Resistances:

- 0.9695 = objective point (OP)
- 0.9716 = super expanded objective point (SXOP)




Overbought/Oversold

The Detrended Oscillator is in the oversold area. Assuming that the current wave down is corrective, it's advisable to stand aside until a serious bottoming signal appears, especially if the price reaches one of the Fibonacci supports listed above.

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

 

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, September 24, 2010 2010-09-24​

This currency pair is now trading in the flat limited by 135.03-131.70. The breakout of the flat will show the future direction of the med term trend. The last wave of the med term trend according to wave count is corrective - B (colored magenta on the chart). The daily wave down is also B (colored royal blue on the chart).

The targets of the upside movement are Fibonacci retracements of 135.03-131.70, and expansions off 131.70-132.76-132.15, 127.62-135.03-131.70.

Resistances:

- 133.76 = .618 retracement, the price reversed within just 1 pip (!)
- 133.87 = expanded objective point (XOP)
- 134.93 = super expanded objective point (SXOP)
- 136.28 = contracted objective point (COP)

In case the price breaks out of the flat to the downside the nearest targets below the current price will be Fibonacci retracements of 127.62-135.03, and expansions off 135.03-131.70-133.75.

Supports:

- 131.69 = COP
- 131.32 = .50 ret
- 130.45-42 = confluence area of .618 retracement and objective point (OP)




Overbought/Oversold

The Detrended Oscillator is now moving into the oversold. Assuming that there's no clear trend, it's advisable to stand aside. However very short-term selling positions may be an alternative, especially when the price gets back into the overbought - 40-50 pips above the curren tprice.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, September 24, 2010 2010-09-24​

This currency pair has just developed daily impulse wave C (or 3) 0.9091-0.9599 (colored royal blue on the chart). The downside wave which is developing now is considered corrective - 4. The targets below are Fibonacci retracements of 0.9091-0.9599, 0.9330-0.9599, 0.9355-0.9599, and expansions off 0.9599-0.9467-0.9547.

Supports:

- 0.9465 = confluence area of contracted objective point (COP) and .50 retracement; reached already (!)
- 0.9448 = .618 ret
- 0.9433 = .618 ret
- 0.9415 = objective point (OP)
- 0.9405 = .382 ret
- 0.9345 = .50 ret
- 0.9333 = expanded objective point (XOP)
- etc., see the chart

In case the price reverses up the nearest resistances will be Fibonacci retracements of 0.9599-0.9462.

Resistances:

- 0.9530 = .50 ret
- 0.9457 = .618 ret




Overbought/Oversold

The Detrended Oscillator is now at the zero level, confirming the flat. Assuming that the med term trend is down it's possible to seek for short term sells, especially when the price hits a Fibonacci resistance (see above) or gets into the overboughts - 25-30 pips above the current price.

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