forex technical analysis

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NASDAQ AMAZON – Wave Strength Analysis On Daily Chart

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Free nse amazon chart calls

NASDAQ AMZN has started an impulsive cycle from 81.33, and the price is forming the final wave (5). The price has accomplished a corrective wave (4) and formed sub-waves of the impulsive wave (5).

Wave Formation & Fibonacci relationships:

Wave (2):

  • Wave 2 has formed an expanded flat with a 3-3-5 structure.
  • Price retraced 78.6% of wave (1).

Wave (3):

  • Wave 3 has constructed a motive structure.
  • Wave 3 is an extensive wave with a 3.618 multiple of wave (1).
  • The sub-structure and element structure is visible.

Wave (4)

  • Wave 4 is a zigzag formation and can be mentioned as a triangle by changing the labels.
  • Wave (4) retraced 50% of wave (3).

Wave (5)

  • The structure of wave (5) does not look like an ending diagonal. So, the last option for us is to assume it is an impulse.
  • The common Fibonacci relationships are:
    – Wave 5 = Wave 1
    – Wave 5 = 0.618 reverse Fibonacci of wave 4
    – Wave 5 = 0.618 X Waves 1 through 3
    – The upper band of the parallel channel and throw-out out in many cases.

ADX (average directional index):
The ADX (14-day setting) shows strength coming but doesn’t advocate the cause of the shart surge. Traders must note to take high probability traders after ADX crosses 30. It only measures whatever trend it is, should one trade or not, by measuring the strength of the trend.

ADX level of 22 shows that the market can be choppy in many instances.

Weekly Trend:

The weekly trend looks strong, as the price has broken out a crucial resistance zone at 143. If the weekly trend & Daily trend are bullish, day traders can take long traders to be within the trend.

To look in-depth, we have to analyze the shorter timeframe. This way, we can get a clear story of wave (5) before initiating any position.Continue reading

Forex Trading Tips For EURUSD & AUDUSD

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EURUSD EURUSD Spot kissed 1.3800 in last trading session. This rise should end around 1.3818,

we must see a free fall to 1.3748 – 1.3710 – 1.3680.

But, break of 1.3849 is bullish again.

AUDUSD Market should not go lower than 0.9048 – 0.9013.

After this move down, it should go up to 0.9101 – 0.9119 area.

 

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Forex Indian Currency tips for USDINR, GBPINR, EURINR & JPYINR

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jpyinr-24-11

JPYINR

Delhi, Madhya Pradesh, Rajasthan and Chhattisgarh state election result effects on Japanese Yen / Indian Rupee. Friday trading session we’ve seen close at 60.61 and opens 59.44 on Monday, Sudden gap 1.17 Rupee on JPYINR. It must  jump with support 59.11 to 60.00 – 60.66 and 61.27 in next trading sessions as per intraday chart. Unable to hold, support and bloodbath continue to 58.35 – 57.75 and more.

moneymunch-eurinr-11-dec-2013
More views on EURINR, USDINR and GBPINR subscribers can check .

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Global Currency Tips Update EURUSD, USDJPY and GBYJPY

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moneymunch-currency

Did you remember what I had written on last Monday about EURUSD in my last Global currency update
Click here to read our last newsletter.
I had written “We expect here drift down to 1.3570 – 1.3556 – 1.3500 and more.”
Euro vs. US Dollar kissed my 2nd target kissed at 1.3556.
Our subscribers booked full profit on 1.3540 and they know it.

 

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About GBPJPY I had told you “have to keep eyes on 168.50 level rise above it is bullish again.”
It breaks the resistance and kissed high 169.13.

forex-target

What about EURCAD, CADJPY & AUDUSD and more Currency which I update for our members . Well, my all Members know very well.

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Note: I also had written about USDJPY in my last newsletter Resistance 101.59 cross of these level, and we see some more bullish trend to 101.96 – 102.48 – 103.00. My final target was kissed at 103.00 in last trading session.

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Forex Trading Strategy: EURUSD, USDJPY, USDINR, GBPINR & JPYINR

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forex-target

As I said in last update, all targets are kissed…
To read full update, click here.. And just try to remember what I said?
I updated about 3 Forex Currency pairs EURUSD, GBPUSD, AUDUSD
In GBPUSD I said “Sell with no fear with the targets 1.6100 – 1.6075“
And about AUDUSD “Break of support (0.9411) and we must see bloodbath to 0.9393 and more.“
On AUDUSD our subscribers booked full profit on 0.9292.
And EURUSD subscribers knows everything about it, there’s no need for clarifications.

Trading Strategy  for Monday market?

EURO vs. US DOLLAR
It seems bullish trend should end with resistance 1.3575 then,

we are able to see some free fall to 1.3520 – 1.3506 – 1.3485 – +.

But brake of resistance, and we must see shortly 1.3581 to 1.3613 levels.

forex-usdjpy
Resistance 101.59 cross of these level, and we see some more bullish trend to 101.96 – 102.48 – 103.00. But,

what happens if move backwards after the resistance and levels are for our members only by mail with exact time & level.

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” EURJPY & AUDUSD we’ll update later for subscribers only on yahoo messenger “

usdinr(future)
Last close @ 62.95, looking forward here in Rupee against the Dollar after the RBI’s obstruction on Friday’s trading session helps the INR to close on strong. Cross the hurdle, and we see 63.19 – 63.45 for short term and 63.55 – 64.50 and more but keep your eyes on hurdle…

what will happen if unable to break the hurdle?

Well, I’m not going to tell you everything here. more updates about USDINR for subscribers only.

GBPINR and JPYINR Only Forex service member know thought use of your username & password

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Market overview: US unemployment claims below forecasts

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us-unemployment   The monthly unemployment report is likely to be a victim of the US government shutdown

  1330: Initial weekly US unemployment claims rose by 1,000 to 308,000 in the week ended on September 21st, versus the 315,000 expected by economists.

  1320: Vodafone’s CFO will step down from his role of nine years once the sale of its stake in Verizon Wireless completes. The stake, which is being sold for 80bn pounds, is expected to be sold by March 2014. The FTSE has risen 24 points to 6,461.50.

 1242: Overnight the Chicago Mercantile Exchange (CME) hiked its margin requirements for operators in the Dow Jones, SP 500 and Nasdaq E-Mini futures contracts by nine per cent. According to Zerohedge that may be a result of President Obama’s remarks to the effect that Wall Street has not yet recognized the seriousness of the current impasse on Capitol Hill.

1120: A little more colour on Aviva, in remarks to Sharecast Ronni Chopra – Head of Strategy at Trade next – pointed out that in the medium-term the stock might still be a potential take-over target. FTSE 100 up 17 to 6,454.

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