empty
 
 
12.06.2012 02:27 PM
AUD/USD Elliott Wave Count for June 12, 2012

This image is no longer relevant

AUD/USD Elliott Wave
Yesterday the AUD/USD pair was trading in a downward movement developing 2 wave (coloured pink). During the Asian and European session we could observe descending movement toward the 0.9935 level. Therefore during the New York session the AUD/USD pair continued trading in a bearish mood and price reached a new daily low at the 0.9855 level. Today during the Asian session this major found support at 0.9850 (end of 2 wave) and started pushing higher developing impulsive 3 wave (coloured pink). In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets Fibonacci extensions (0.9820-1.0008-0.9850) with Take Profit 1 at 1.0037 (100% of wave 1) and Take Profit 2 at 1.0152 (161.8% of wave 1). Support level at 0.9850 can be used as a Stop Loss point. Also it is necessary to monitor the U.S. Import Prices m/m, IBD/TIPP Economic Optimism and Federal Budget Balance data that can change the rate of the pair.

Support and Resistance Levels
(S3) 0.9766 (S2) 0.9821 (S1) 0.9855 (PP) 0.9911 (R1) 0.9966 (R2) 1.0000 (R3) 1.0056

Trading Forecast
Proceeding from Elliott Wave Rules this week, the trend is expected to begin the upward movement. That is why Long positions at level 0.9935 with Stop Loss at 0.9850 Take Profit 1 at 1.0037 and Take Profit 2 at 1.0152 are recommended.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $8000 más!
    ¡En Marzo, sorteamos $8000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback