| Chart | Quotes |
GBPUSD
| News: 2010-07-29 12:00:00 UTC+00 1 year, 6 months, 1 week, 3 days, 16 hours, 6 min. ago | ||||||
|
|
|
According to wave count on larger timeframes this currency pair is now developing wave C of daily degree (colored lightgreen on the chart). The strategic targets of this wave are Fibonacci expansions off 0.8066-0.8861-0.8314 and 0.8314-0.8870-0.8633:
- 0.8977 = contracted objective point (COP), reached already by the price
- 0.9109 = objective point (OP)
- 0.9189 = OP
On smaller TF's we get one more target, which is a Fib-expansion point off 0.8633-0.8858-0.8737:
- 0.9109 = expanded objective point (XOP)
Though the major trend is up, the intermediate trend is being corrected now. The targets of the corrective wave are Fibonacci retracement points of 0.8737-0.9068, 0.8633-0.9068:
- 0.8902 = confluence area of .50 and .382 retracement
- 0.8863 = .618 ret
- 0.8851 = .50 ret
- 0.8815 = .764 ret
- 0.8799 = .618 ret
Overbought/Oversold
The Detrended Oscillator is now in the overbought area and exceeded the previous peak, which may indicate the 1st subwave within a larger wave up and signal the end of the correction which stopped just within 3 pips of the 0.8902 confluence (see above). A long entry is favored if it is confirmed by a reversal signal on a larger TF.
| ||
| Performed by Analytical expert: Denis Strelkov | ||
| InstaForex Companies Group © 2007-2012 |
| Recommend: Forex Analytics | ||
| ▶ |
EUR/USD Intraday Technical Levels for February 7, 2012
2012-02-07 07:30:08 UTC+00 8 hours, 36 min. ago |
Views today 274 |
| ▶ |
AUD/USD Wave Analysis for February 7, 2012
2012-02-07 09:01:20 UTC+00 7 hours, 5 min. ago |
Views today 233 |
| ▶ |
EUR/USD Intraday Technical analysis
2012-02-07 08:25:50 UTC+00 7 hours, 40 min. ago |
Views today 295 |
| ▶ |
GBP/USD Intraday Technical analysis
2012-02-07 08:26:05 UTC+00 7 hours, 40 min. ago |
Views today 198 |
| ▶ |
GOLD Intraday Technical analysis
2012-02-07 08:54:48 UTC+00 7 hours, 11 min. ago |
Views today 240 |
