AUD/USD Technical Analysis for 28.06.2-13 Trend News

Daily bars, overall picture:

The daily chart shows that the pair has resumed its downtrend from the lower line of the envelope model 0.93.

MACD histogram is rising, stochastic is up, signifying the bullish trend.

The main tendency is downtrend.

However, there are no significant changes in the volumes.

System analysis:

We expect the continuation of an uptrend to 0.935, sell deals are recommended from this level.

The average line is at 0.944 level from which sell deals are also recommended.

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EUR/USD Wave Analysis for June 28, 2013 Trend News

Wave analysis:

Having rebounded from the maximum of 1.2975, EUR/USD was consolidating yesterday between the 30^th figure level and 1.3050. Thus, we can probably observe now an incomplete correction figure of a would-be wave B of the downtrend which started from the high of May 19. If our projection is correct, the upward move can unfold further to 1.3100 or 1.3150. Meanwhile, there is a possibility that wave A can be longer and more complex due to the depth and length of the upward correction.

Targets for down wave:

1.2975 – 23.6% of Fibonacci

1.2900

Targets for new up wave (possible wave B):

1.3115 – 38.2% of Fibonacci

1.3229 – 50.0% of Fibonacci

Summary and trading recommendations:

It is likely that the instrument have finished the building of wave A of the downtrend near 1.2975 level. In such a way, a rebound from the reached lows and quotes’ upraise can be continued with the same targets near 1.3115 and 1.3229 or 38.2% and 50.0% of Fibonacci. In the course of a new up wave, probably wave C, we expect a decline (after wave B is finished) with the targets placed near 1.2975 or 23.6% of Fibonaci and then lower to 29^th figure.

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Elliott Wave analysis of EUR/JPY for June 28, 2013 Trend News

Today's Support and Resistance levels:

R3: 130.71

R2: 130.09

R1: 129.70

Current Spot: 129.05

S1: 128.64

S2: 128.37

S3: 127.90

Technical overview:

The rally of the 126.57 low has been very dynamic and the fact, that we have broken above the falling channel resistance line has forced us to make a slight change in our count. Now the most likely count is that we are in wave b towards 131.27 before the next downside pressure should be expected. We warned yesterday that the overlapping structure down from 129.90 could be either a leading diagonal or a correction of the 129.90 high and the impulsive rally indicates, that the decline of the 129.90 high was a red wave b correction. We are now looking for red wave c higher towards 131.27. Once this red wave c is finished we should expect a new powerful decline down to at least 124.96 again.

Trading recommendation:

We took a fresh new short position at 128.63, but our stop at 129.25 was quickly taken out. We will stand on the sideline for now and await a new EUR-selling opportunity at 131.15, where we sell EUR with a stop at 132.15.

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