Fundamental Analisis By InstaForex

[BudakFx]

GBP/JPY Elliott wave count and Fibonacci levels, October 1, 2010 2010-10-01​

This currency pair has confirmed subwave C (colored magenta) within corrective daily wave B (colored royal blue). On smaller timeframes there's also a set of A-B-C subwaves within the hourly C wave, they are colored red on the chart. We use retracements and projections off these waves to calculate the targets below. They are retracements of 127.62-135.03 and expansions off 135.03-131.70-133.75, 133.75-131.64-132.65.

Supports:

- 130.54-45-42 = confluence area of objective point (OP), .618 retracement and one more OP
- 129.24 = expanded objective point (XOP)
- 128.36 = XOP

In case the price continues advance within a short term correction its targets will be Fibonacci retracements of 132.65-130.78.

Resistances:

- 131.49 = .382 retracement
- 131.72 = .50 ret
- 131.94 = .618 ret




Overbought/Oversold

The Detrended Oscillator is oscillating around the zero level, confirming the flat. The OB zone is getting narrower, and OS - wider, which means the downside impulses are stronger, pushing the borders of the respective zones lower and confirming the med term downtrend. In view of this we would venture shorts especially when the price hits one of the Fibonacci resistances or is slightly overbought - 10-20 pips above the current price.

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 1, 2010 2010-10-01​

Australian dollar is developing wave 5 of the daily uptrend - colored royal blue on the chart. Within this wave there's a set of A-B subwaves (colored magenta) with wave B developing. Within the latter wave B there's a set of 3 subwaves with wave C developing. To confirm it a break below 0.9624 is needed.

The targets of the corrective decline are Fibonacci retracements of wave A - 0.9462-0.9733, subwave C within wave A - 0.9558-0.9733, and expansions off the subwaves within wave B - 0.9733-0.9624-0.9701.

Supports:

- 0.9634 = contracted objective point (COP)
- 0.9598-92 = confluence area of .50 retracement and objective point (OP)
- 0.9566 = .618 ret
- 0.9525 = expanded objective point (XOP)
- 0.9416 = super expanded objective point (SXOP)

In case the advance continues the nearest targets remain unchanged - Fibonacci expansions off daily waves 1-2 (0.8772-0.9183-0.9091), waves 3-4 (0.9091-0.9599-0.9462).

Resistances:

- 0.9756 = XOP
- 0.9776 = contracted objective point (COP)




Overbought/Oversold

The Detrended Oscillator is moving into the oversold, confirming the corrective movement. Assuming that the decline is considered corrective it's advisable to stand aside until the upside impulse wave reveals itself. Seek for bottoming signals when the price hits a Fibonacci support - see listed above.

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]

Eurozone Jobless Rate Remains At 12-Year High

The euro area unemployment rate continued to stay at a 12-year high in August as the region's economy started to cool, reflecting slowing trends in global economy. Official figures suggest large disparities in unemployment figures among core and peripheral economies of the single currency bloc.

The euro area unemployment rate came in at 10.1% in August, unchanged from July, data published by Eurostat, the statistical office of the European Union showed Friday. The rate for July was revised up from 10%. The jobless rate was 10.1% since May.

"Eurozone unemployment appears to have reached a plateau at a high level," said ING Bank economist Martin van Vliet.

Around 15.87 million people were unemployed in August. From the previous month, the number of persons unemployed decreased by 20,000 compared to an increase of 9,000 in July. From August 2009, unemployment rose by 0.569 million.

Compared with a year ago, the unemployment rate fell in seven member states, remained stable in one and increased in nineteen. The largest decreases were observed in Malta and Austria, while Estonia and Lithuania showed largest increases.

As the labor market situation improved in some major economies and deteriorated in some peripheral economies, the ING Bank economist said the devil is very much in the detail. When the Spanish and Ireland unemployment rose to 20.5% and 13.9% respectively, the rate fell to 8.2% in Italy.

Data released by Germany's Federal Labor Agency said the number of unemployed decreased sharply by 40,000 in September, taking the level to 3.15 million. The jobless rate fell to 7.5% in September, the lowest since 1992.

News are provided by InstaForex.

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, October 4, 2010 2010-10-04​

According to wave count Australian dollar is developing wave 5 of the daily uptrend - colored royal blue on the chart. Within this wave there's a set of A-B-C subwaves (colored magenta) with wave C developing. Within the latter wave C there's a set of 2 subwaves with wave B developing (colored red on the chart).Subwave C will be confirmed on 0.9749 break.

The targets of the corrective subwave are Fibonacci retracements of 0.9624-0.9749 and expansions off 0.9749-0.9683-0.9731.

Supports:

- 0.9687 = .50 retracement
- 0.9672-65 = confluence area of .618 ret and objective point (OP)
- 0.9624 = expanded objective point (XOP)

In case the price resumes the upmove - breaking above 0.9749 - the nearest targets will be Fibonacci expansions off daily waves 1-2 (0.8772-0.9183-0.9091), waves 3-4 (0.9091-0.9599-0.9462), and hourly A-B (0.9462-0.9749-0.9624).

Resistances:

- 0.9756 = XOP
- 0.9776 = contracted objective point (COP)
- 0.9801 = COP




Overbought/Oversold

The Detrended Oscillator is standing at the zero level. Assuming that the downmove is corrective and the prevailing trend is up it's advisable to seek for longs when the price hits a Fibonacci support or gets into the oversold - 15-25 pips below the current price.

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 4, 2010 2010-10-04​

According to wave count this currency pair has just ended daily corrective wave B (colored royal blue on the chart). To confirm wave C break above 135.03 is needed. If the price breaks below 130.78 it means that wave C will be a downwave with the wave up starting from 130.78 regarded as B (now developing).

The targets of the upside movement are Fibonacci retracements of 135.03-130.78, 133.75-130.78.

Resistances:

- 132.26 = .50 retracement
- 132.40 = .382 ret
- 133.62 = .618 ret
- 132.91 = .50 ret
- 133.41 = .618 ret

In case the price resumes its decline the nearest supports will be Fibonacci retracements of 127.62-135.03.

Supports:

- 130.45 = .618 ret




Overbought/Oversold

The Detrended Oscillator is moving into the oversold area. Assuming that impulse upmove is not yet confirmed it's advisable to stand aside until at least 132.20 is broken to the upside - thus confirming the upmove.

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 5, 2010 2010-10-05​

Wave count shows that this currency pair is moving within daily impulse wave C. However to confirm this wave break above 135.03 is needed. In case 135.03 remains intact this upwave will be corrective to 135.03-130.78 (therefore marked C // B in the chart).

The targets of the upmove are Fibonacci retracements of 135.03-130.78, 133.75-130.78, and expansions off 130.78-132.30-131.08, 131.08-132.17-131.79.

Resistances:

- 132.88-91 = confluence area of objective point and .50 retracement
- 133.41 = .618 ret
- 133.54-55 = confluence area of expanded objective points (XOP)
- 134.64 = super expanded objective point (SXOP)

In case the price reverses down for a correction the nearest supports will be represented by Fibonacci retracements of the upmove starting from 131.08 - wave not developed yet.




Overbought/Oversold

The Detrended Oscillator has got into the oversold area. Assuming that the med term trend is up it's better to wait for a retracement below zero - some 30-40 pips more to go - to enter long.

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 5, 2010 2010-10-05​

Wave count shows that this currency pair has just developed wave 5 of the daily trend - colored royal blue in the chart. The level that "holds" the whole daily uptrend is 0.9462 - the start of wave 5. Break below will end the whole uptrend from 0.8772.

The targets of the downmove are Fibonacci retracements of 0.9462-0.9749 (wave 5), and expansions off the subwaves within the corrective downmove - 0.9749-0.9652-0.9705, 0.9705-0.9653-0.9682.

Supports:

- 0.9572 = .618 retracement
- 0.9548-46 = confluence area of expanded objective point (XOP) and super expanded objective point (SXOP)

These are all the supports so far. In case the price reverses up the nearest resistances will be Fibonacci retracements of the downleg from 0.9705 - the start of subwave 5 - colored orange red in the chart. The wave is not developed yet.




Overbought/Oversold

The Detrended Oscillator has exceeded all the previous bottoms, indicating a corrective wave of a larger degree is developing. Assuming that the medium term trend has changed it may be good to seek for topping signals when the price comes back above the zero level - some 50-60 pips to go - and 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]

Wave analysis of the GBP/USD currency pair for October 05, 2010 2010-10-05​

Yesterday's price uptick of the GBP/USD allowed it to form rather complete 5-wave structure. Amid this a two-valued situation has occured allowing to consider equivalent variants of extending the rates upturn for pound and the currency pair transit to a phase of longer horizontal correction.

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

 

[BudakFx]

AUD/USD Elliott wave count and Fibonacci levels, October 6, 2010 2010-10-06​

According to wave count this currency pair is developing corrective wave to the upmove 0.9462-0.9749. In caset 0.9749 is broken to the upside we'll have wave C of the same degree developing (daily - colored royal blue). If this scenario unfolds the nearest resistances will be Fibonacci expansions off 0.9462-0.9749-0.9541, and 0.9541-0.9725-0.9693.

Resistances:

- 0.9807 = contracted objective point (COP)
- 0.9828 = objective point (OP)

If the price reverses to the downside the nearest supports will be Fibonacci retracements of 0.9541-0.9725.

Supports:

- 0.9655 = .382 retracement
- 0.9633 = .50 ret
- 0.9611 = .618 ret




Overbought/Oversold

The Detrended Oscillator has returned back to the zero level after peaking at both sides. The expanding peaks confirm greater volatility of the market. Assuming that the longer-term trend is still up it's preferable to seek for bottoming signals when the price hits a Fibonacci support or gets into the oversold 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]

GBP/JPY Elliott wave count and Fibonacci levels, October 6, 2010 2010-10-06​

According to wave count this currency pair is standing at the beginning of potential wave C of daily degree - colored royal blue in the chart. Break above 135.03 is needed to confirm. However if 130.78 is broken to the downside this upmove will be considered corrective wave B. From shorter term perspective there's a corrective wave to 130.78-132.93 developing. Its targets are Fibonacci retracements of 130.78-132.93.

Supports:

- 131.86 = .50 retracement
- 131.60 = .618 ret

In case the price moves any lower its next strategic supports is:

- 130.45 = .618 ret (127.62-135.03)

The nearest resistances are Fibonacci retracements of 135.03-130.78 and expansions off 130.78-132.93-131.81.

Resistances:

- 132.91 = .50 ret
- 133.14 = conrtracted objective point (COP)
- 133.41 = .618 ret
- 133.96 = objective point (OP)




Overbought/Oversold

The Detrended Oscillator is oscillating around the zero level confirming the flat. Assuming that the med term trend is up it's preferable to seek for bottoming signals when the price reaches a Fibonacci support or gets into the oversold - 30 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