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Thread: Daily Wave Analysis from InstaForex

  1. #1
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    Daily Wave Analysis from InstaForex



    Market Overview
    The USD/CAD pair was trading in upward move yesterday, in European session we could observe continuation of bullish mood and price reaching 0.9942 level, in the New York session price continued to go higher reaching 50EMA resistance.Today in early Asian session price reached a new high slightly above 100EMA,Price did not manage to hold this level and after Greek bailout this pair start falling to 0.9925 level.We are expecting to see USD/CAD above 0.9980 today.We have to take a look at Canadian Core Retail Sales m/m that could affect this currency pair.

    Support and Resistance levels
    (S3) 0.9891 (S2) 0.9904 (S1) 0.9913 (PP) 0.9927 (R1) 0.9940 (R2) 0.9949 (R3) 0.9963

    USD/CAD Elliott Wave Analysis
    The USD/CAD pair finished wave (1) of bigger (V) wave at 0.9915, and we are currently in (2) wave. According to our wave rules and taking into consideration that wave (2) will retrace 50 or 61.8% of wave (1) we can project our targets point for today with Fibonacci retrace(1.0050-0.9915) to first take profit at 0.9982(50% of wave (1)) and second take profit at 0.9998(61.8% of wave (1)).For stop loss we can use 0.9950

    Trading Forecast
    Proceeding from Elliott Wave Rules the trend is expected to begin the upward movement to go higher today. That is why Long position at levels 0.9970 with Stop Loss at 0.9950, Take Profit 1 at 0.9982 and Take Profit 2 at 0.9998 are recommended
    Nicola Delic
    Official Analyst of InstaForex Companies Group

  2. #2
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    AUD/USD Elliott Wave Count for February 21, 2012



    Market Overview
    The AUD/USD pair was trading in downward move yesterday, after this pair started with a big gap in the early Asian session price reached 50 EMA support at 1.0745 level , price continue to fallow trend in European session breaking 100 EMA. Today in the Asian session AUD/USD pair fall under 1.0680 level,price did not manage to hold this level and price start going in upward move,after RBA decide to keep the cash rate unchanged at 4.25%. We are expecting little pullback before we can see this currency pair above 1.0800 level.Greek Bailout will help this pair to go higher today.

    Support and Resistance levels
    (S3) 1.0693 (S2) 1.0722 (S1) 1.0740 (PP) 1.0769 (R1) 1.0798 (R2) 1.0816 (R3) 1.0845

    AUD/USD Elliott Wave Analysis
    The AUD/USD pair finished (2) wave at 1.0478, and we are currently at the start of wave (3) of bigger v wave. According to our wave rules and taking into consideration that wave (3) will finish at 161.8% of wave (1) we can project our target levels for today with Fibonacci extension(1.0645-1.0799-1.0478) to first take profit at 1.0832(100% of wave (1)) and second take profit at 1.0927(161.8% of wave (1)).for stop loss we can use 1.0650 support level.

    Trading Forecast
    Proceeding from Elliott Wave Rules the trend is expected to begin the upward movement to go higher today. That is why Long position at levels 1.0730 with Stop Loss at 1.0650, Take Profit 1 at 1.0832 and Take Profit 2 at 1.0927 are recommended
    Nicola Delic
    Official Analyst of InstaForex Companies Group

  3. #3
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    Re: Daily Wave Analysis from InstaForex

    Ndelic Thanks a lot for that update. We try it out.
    Their is this saying "go to where you are celebrated and not to were you are tolerated" in IAFT you are celebrated.

  4. #4
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    AUD/USD Elliott Wave Count for February 22, 2012


    Market Overview
    The AUD/USD pair was trading in downward move yesterday, in European session we could observe price broke 200EMA and fall under 1.0650 level, in New York session price reached a new low at 1.0645 level. Today in Asian session after news from Australia shows positive results(CB Leading Index m/m,MI Inflation Gauge m/m,Wage Price Index q/q) this major pair start pushing higher and reached a new daily high at 1.0685. Price did not manage to hold this level and after Bad News from Europe AUD/USD start falling down, we are currently at 1.0645 and we are expecting to see price reaching 1.0700 level.We need to take a look at USA Existing Home Sales today that could affect this pair.

    Support and Resistance levels
    (S3) 1.0589 (S2) 1.0627 (S1) 1.0651 (PP) 1.0690 (R1) 1.0728 (R2) 1.0752 (R3) 1.0791

    AUD/USD Elliott Wave Analysis
    The AUD/USD finished corrective iv wave today at 1.0610 and we are currently in (3) wave of bigger 1 wave.According to our wave rules and taking into consideration that wave (3) will finish around 161.8% of (1) wave,we can project our targets for today with Fibonacci extension(1.0610-1.0685-1.0630) to first take profit at 1.0713(100% of wave (1)) and second take profit at 1.0760(161.8% of wave (1)).For stop loss we can use 1.0580 support level.

    Trading Forecast
    Proceeding from Elliott Wave Rules the trend is expected to begin the upward movement to go higher today. That is why Long position at levels 1.0650 with Stop Loss at 1.0580, Take Profit 1 at 1.0713 and Take Profit 2 at 1.0760 are recommended
    Nicola Delic
    Official Analyst of InstaForex Companies Group

  5. #5
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    USD/CAD Elliott Wave Count for February 22, 2012




    Market Overview

    The USD/CAD pair wave trading in upward move yesterday, in European session we could observe price broker 50,100 and 200 EMA resistance and reached a new high at 0.9975 level,in the last few hours of a New York session price pullback to 50EMA.Today price continued to fallow bullish mood and price reached a new high in Asian session at 0.9988.Price did not manage to hold this level and price pushed back to 0.9955 level.In European session after we saw bad news from Europe this major pair once again push higher. We are expecting to see downward movement today to 0.9900 level,We need to take a look at USA Existing Home Sales today that could affect this pair.

    Support and Resistance levels
    (S3) 0.9904 (S2) 0.9924 (S1) 0.9936 (PP) 0.9956 (R1) 0.9976 (R2) 0.9988(R3) 1.0008

    USD/CAD Elliott Wave Analysis
    The USD/CAD pair is finishing (2) wave of bigger (v) wave.We are expecting to see end of (2) wave around 0.9995 and 1.0019 where we can enter short for (3) wave. According to our wave rules and taking into consideration that wave (3) will finish around 161.8% of (1) wave,we can project our targets for today with Fibonacci extension(1.0050-0.9906-0.9995) to first take profit level at 0.9863(100% of wave (1)) and second take profit at 0.9774(161.8% of wave (1)).

    Trading Forecast
    Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why Short position at levels 0.9995 with Stop Loss at 1.0050, Take Profit 1 at 0.9863 and Take Profit 2 at 0.9774 are recommended
    Nicola Delic
    Official Analyst of InstaForex Companies Group

  6. #6
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    AUD/USD Elliott Wave Count for February 24, 2012


    AUD/USD Elliott Wave Count for February 24, 2012

    Market Overview
    The AUD/USD was trading in a upward move yesterday, in European session we could observe price broke the 100 and 200EMA resistance and reached a new high at the 1.0715.This major pair did not manage to hold this level in New York session and price started falling 50 Pips before we saw upward move again yesterday. The AUD/USD finished yesterday's trading session few pips above daily high around 1.0715 level.Today in early Asian session price continue to go higher reaching 1.0754.We are expecting to see this major pair under 1.0650 today,We saw Fitch has downgraded the Commonwealth Bank of Australia so short position is recommended but ,we also need to take a look at USA New Home Sales today that could affect this pair.

    Support and Resistance levels
    (S3) 1.0642 (S2) 1.0668 (S1) 1.0695 (PP) 1.0679 (R1) 1.0716 (R2) 1.0743 (R3) 1.0770

    AUD/USD Elliott Wave Analysis
    The AUD/USD finished (1) wave at 1.0754, and we are currently in (2) wave.According to our wave rules and taking into consideration that wave (2) will retrace 50-61.8% of wave (1) we can project our targets with Fibonacci retracement (1.0597-1.0754) to first take profit level at 1.0676(50% of wave (1)) and second take profit at 1.0657(61.8& of wave (1)).For Stop loss we can use 1.0760 resistance level.

    Trading Forecast
    Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why Short position at levels 1.0710 with Stop Loss at 1.0760,Take Profit 1 at 1.0657 and Take Profit 2 at 1.0657 are recommended
    Nicola Delic
    Official Analyst of InstaForex Companies Group

  7. #7
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    USD/CAD Elliott Wave Count for February 24, 2012



    Market Overview
    The USD/CAD pair was trading in downward move yesterday, in the Asian session this major pair broke bottom channel line and stop at 50 EMA support, in the Europe session we could observe continuation of bearish mood and price reached new daily low at 0.9953 level.Price did not manage to hold this level in New York session and price started going higher to 0.9995 level.
    Today in Asia we saw bullish mood and price is currently around 0.9983.We are expecting to see USD/CAD pair under 0.9920 .We need to take a look at USA New Home Sales today that could affect this pair.

    Support and Resistance levels
    (S3) 0.9917 (S2) 0.9940 (S1) 0.9955 (PP) 0.9979 (R1) 1.0002 (R2) 1.0017 (R3) 1.0041

    USD/CAD Elliott Wave Analysis
    The USD/CAD pair finished (2) wave at 1.0020, and we are currently in (3) wave.According to our wave rules and taking into consideration that wave (3) will finish around 161.8% of (1) wave, we can project our potential targets with Fibonacci extension(1.0050-0.9906-1.0019) to first take profit level at the 0.9875(100% of wave (1)) and second take profit at 0.9785(161.8% of wave (1)).For Stop Loss we can use end of wave (2)

    Trading Forecast
    Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why Short position at levels 0.9940 with Stop Loss at 1.0019, Take Profit 1 at 0.9875 and Take Profit 2 at 0.9785 are recommend
    Nicola Delic
    Official Analyst of InstaForex Companies Group

  8. #8
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    AUD/USD Elliott Wave Count for February 27, 2012


    Market Overview
    On Friday during the European session the AUD/USD pair was trading in a downward trend and reached the support level 1.0700 (200 EMA) starting the ascending movement. During the New York session the AUD/USD pair pushed only 45 pips higher before the price had started pushing again within the bearish mood. Today in the early Asian session this major continued the downward movement and we could observe the fact that the price reached the low 1.0658. The AUD/USD pair is currently retesting the 1.0658 low. Today the AUD/USD pair is expected to go higher, but it is also necessary to consider the data concerning the USA Pending Home Sales m/m that could affect the rate.

    Support and Resistance levels
    (S3) 1.0645 (S2) 1.0670 (S1) 1.0686 (PP) 1.0712 (R1) 1.0737 (R2) 1.0753 (R3) 1.0779

    The AUD/USD Elliott Wave Analysis
    The AUD/USD pair is finished the wave 1 in the point 1.0754. Presently we can observe the end of the wave 2. The end of the wave 2 is to be located near the levels 1.0657 and 1.0631, where we can open the long positions for the wave 3. According to our wave rules and taking into consideration that the wave 3 is the longest, we can define today’s targets with Fibonacci extension. It is recommended to set Take profit at level 1.0750 (61.8% of wave (1)).For stop loss we can use the 1.0630 level.

    Trading Forecast
    Proceeding from Elliott Wave Rules, today the trend is expected to begin the upward movement. That is why Long position at levels 1.0675 with Stop Loss at 1.0630 and Take Profit at 1.0750 are recommended.
    Nicola Delic
    Official Analyst of InstaForex Companies Group

  9. #9
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    USD/CAD Elliott Wave Count for February 27, 2012



    Market Overview
    On Friday the USD/CAD pair was trading within an upward movement. In the early Asian session the major started pushing higher to the 0.9985 level. The USD/CAD pair did not manage to hold this level, therefore during the European session the pair moved to the new daily low 0.9965. In the course of the New York session the pair climbed to new high 1.0000. Today we can observe the continuation of the bullish mood as the price is above the 1.0020 level. Today the pair is expected to test the resistance level 1.0030 before the beginning of the downside movement. Also it is necessary to consider the data concerning the USA Pending Home Sales m/m that could affect the rate of the pair.


    Support and Resistance levels
    (S3) 0.9950 (S2) 0.9964 (S1) 0.9973 (PP) 0.9987 (R1) 1.0001 (R2) 1.0010 (R3) 1.0024

    USD/CAD Elliott Wave Analysis
    The USD/CAD pair finished the (B) wave of the bigger (2) wave at 0.9953. Presently we can observe the end of (C) wave. According to our wave rules and taking into consideration that the wave (3) is the longest, we can define the potential targets with help of Fibonacci extension (1.0050-0.9906-1.0030) with the first take profit at level 0.9940 (61.8% of wave (1)) and the second take profit at 0.9888 (100% of wave (1)). For stop loss we can use invalidation point in our count at 1.0050

    Trading Forecast
    Proceeding from Elliott Wave Rules, today the trend is expected to begin the downward movement. That is why Short position at levels 1.0010 with Stop Loss at 1.0050, Take Profit 1 at 1.0750 and Take Profit 2 at 1.0630 are recommended.
    Nicola Delic
    Official Analyst of InstaForex Companies Group

  10. #10
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    Re: Daily Wave Analysis from InstaForex


    Market Overview
    Yesterday the AUD/USD pair was trading within the upward movement. During the early European session this major started pushing lower to the 1.0650 level. The AUD/USD pair did not manage to hold this level, therefore during the New York session the pair moved to the new 5 days high 1.0784. Today we can observe the continuation of the bullish mood as the price is above 1.0780 level. Today the AUD/USD pair is expected to go higher. Also it is necessary to consider the data concerning the USA Core Durable Goods Orders m/m and CB Consumer Confidence that could affect the rate of the pair.


    Support and Resistance levels

    (S3) 1.0596 (S2) 1.0648 (S1) 1.0679 (PP) 1.0730 (R1) 1.0782 (R2) 1.0813 (R3) 1.0864

    AUD/USD Elliott Wave Analysis
    The AUD/USD pair finished the (2) wave of the bigger wave 5 at level 1.0653. Presently we can observe the wave (3). According to our wave rules and taking into consideration that the wave (3) is the longest, we can define the potential targets with help of Fibonacci extension (1.0597-1.0754-1.0653) with first Take Profit at level 1.0855(127.2% of wave (1)) and second Take Profit at 1.0910 (161.8% of wave (1)). For stop loss we can use support level at 1.0720.

    Trading Forecast
    Proceeding from Elliott Wave Rules, today the trend is expected to begin the upward movement. That is why Long position at levels 1.0790 with Stop Loss at 1.0720, Take Profit 1 at 1.0855 and Take Profit 2 at 1.0910 are recommended.
    Nicola Delic
    Official Analyst of InstaForex Companies Group

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