For those of us who ride the metro regularly, knowing when the next train will arrive before you enter the station is a major convenience.
In the storied tradition of the original Meenster, this service simply scrapes the WMATA website and wraps it in Joe Hewitt’s excellent iPhone CSS.
For those of us who ride the metro regularly, knowing when the next train will arrive before you enter the station is a major convenience.
In the storied tradition of the original Meenster, this service simply scrapes the WMATA website and wraps it in Joe Hewitt’s excellent iPhone CSS.
Usd/Jpy, Bullish target at 98.88
4 Hour Chart trend: Mixed. Main price points: 91.74, 94.35 and 98.88. Looking for: Wave C, or III
Yen is trading higher, after a bullish Wall Street close on Friday, in response to the NFP report. We are looking for a near-term bullish wave count with wave C or III in progress, after the market broke through the red wave I/A highs. Traders should be looking for a possible move up, near to the 98.88 target area, so long as the wave II/B, 94.35 low holds.
Oil, Still Below
Weekly chart trend: Long. Main price points: , and 73. Looking for: Wave 2).
Oil bounced from the trend-line resistance area, where per barrel appears to be the top of wave 1) followed by the current, corrective wave 2). We are looking for the sub-waves of a new up-trend, as red wave B is completed at per barrel. This support area needs to holds in the coming months and years, while wave C develops. Stochastic indicators are also in a pull-back mode, which may suggest a turning point in the coming weeks.
The 38.2% Fibonacci level may already be the bottom of wave 2).
Daily chart trend: mixed. Main price points: 58.30, and 73.27. Looking for: Break through 73.27
Oil prices on a daily chart are still below the wave 1) top; .27 per barrel, which means that there are two possible scenarios. The first one is that wave 2) is already completed around 38.2% of wave 1), at .33 per barrel, which means that a break through wave 1) highs is expected.
If the break of 73.27 does not soon happen, then it may also be the case of a more complex wave 2), which means that a turning point into another leg down, below 58.30 is also one of the valid scenarios. Traders should pay attention to a bullish move if the 73.27 area fails or on a more complex wave 2) if the 58.30 support gets broken.
4 Hour chart trend: Mixed. Main price points: 58.30, 62.64 and 73.27. Looking for: Two wave counts
On the four hour oil chart, the price structure is still very tricky, since prices have not broken the 73.27 resistance area yet. As such, there are two possible wave counts shown below that are valid.
Wave count #1: The first one is a bullish wave count with a completed black wave 2) at the 58.30 zone, followed by an impulse structure that should lead prices much higher during the next few weeks and months. If this is the correct count then the 62.64 lows must hold, as an extended red wave III is developing with a black sub-wave iii in process.
Wave count #2: The second wave count is signaling for another leg lower in the coming days for a more complex correction in a black wave 2). We are talking about wave C that should fall down below the 58.30 wave A support before wave 2) can be completed. If this is the case then the current wave B and the 73.27 highs must hold.
Written by TheLFB Trade Team, © 2007-2008 LFB Services, LLC. All rights reserved. http://www.TheLFB-Forex.com
TheLFB Risk Disclaimer can be found at http://www.thelfb-forex.com/content.aspx?id=174.
The Copying, Broadcast, Republication or Redistribution of TheLFB Content is Expressly Prohibited Without the Prior Written Consent of LFB Services, LLC.
Usd/Jpy, Bullish target at 98.88
4 Hour Chart trend: Mixed. Main price points: 91.74, 94.35 and 98.88. Looking for: Wave C, or III
Yen is trading higher, after a bullish Wall Street close on Friday, in response to the NFP report. We are looking for a near-term bullish wave count with wave C or III in progress, after the market broke through the red wave I/A highs. Traders should be looking for a possible move up, near to the 98.88 target area, so long as the wave II/B, 94.35 low holds.
Oil, Still Below
Weekly chart trend: Long. Main price points: , and 73. Looking for: Wave 2).
Oil bounced from the trend-line resistance area, where per barrel appears to be the top of wave 1) followed by the current, corrective wave 2). We are looking for the sub-waves of a new up-trend, as red wave B is completed at per barrel. This support area needs to holds in the coming months and years, while wave C develops. Stochastic indicators are also in a pull-back mode, which may suggest a turning point in the coming weeks.
The 38.2% Fibonacci level may already be the bottom of wave 2).
Daily chart trend: mixed. Main price points: 58.30, and 73.27. Looking for: Break through 73.27
Oil prices on a daily chart are still below the wave 1) top; .27 per barrel, which means that there are two possible scenarios. The first one is that wave 2) is already completed around 38.2% of wave 1), at .33 per barrel, which means that a break through wave 1) highs is expected.
If the break of 73.27 does not soon happen, then it may also be the case of a more complex wave 2), which means that a turning point into another leg down, below 58.30 is also one of the valid scenarios. Traders should pay attention to a bullish move if the 73.27 area fails or on a more complex wave 2) if the 58.30 support gets broken.
4 Hour chart trend: Mixed. Main price points: 58.30, 62.64 and 73.27. Looking for: Two wave counts
On the four hour oil chart, the price structure is still very tricky, since prices have not broken the 73.27 resistance area yet. As such, there are two possible wave counts shown below that are valid.
Wave count #1: The first one is a bullish wave count with a completed black wave 2) at the 58.30 zone, followed by an impulse structure that should lead prices much higher during the next few weeks and months. If this is the correct count then the 62.64 lows must hold, as an extended red wave III is developing with a black sub-wave iii in process.
Wave count #2: The second wave count is signaling for another leg lower in the coming days for a more complex correction in a black wave 2). We are talking about wave C that should fall down below the 58.30 wave A support before wave 2) can be completed. If this is the case then the current wave B and the 73.27 highs must hold.
Written by TheLFB Trade Team, © 2007-2008 LFB Services, LLC. All rights reserved. http://www.TheLFB-Forex.com
TheLFB Risk Disclaimer can be found at http://www.thelfb-forex.com/content.aspx?id=174.
The Copying, Broadcast, Republication or Redistribution of TheLFB Content is Expressly Prohibited Without the Prior Written Consent of LFB Services, LLC.
The estimated variant for sales was implemented with overlap of minimal anticipated targets. OsMA trend indicator, after divergence formation, marked reverse momentum but further bullish activity rise was not enough for upside movement and now, considering bullish activity fall, you should expect retest of lower channel border, where it is recommended to reevaluate the development of the activity of both parties in accordance with the charts of shorter time interval. As for buying positions, the targets will be 1,0680/1,0700 and (or) further variant up to 1,7040/60, 1,0820. The alternative break-out variant for sales on condition of formation of confirmative signals will be below 1,0560 with the targets of 1,0500/20 further variant up to 1,0390/1,0410, 1,0220.
The estimated variant for buying positions has been implemented with overlap of maximum targets. At this point, OsMA trend indicator marked topping signal that together with bearish activity rise suggests rate return to close supports with further test of this zone. As for sales, the targets will be 1,6840/60 and (or) further variant up to 1,6750/70, 1,6680. The alternative for buying positions on condition of the formation of confirmative signals the targets will be 1,6980/1,7000 and (or) further variant up to 1,7030, 1,7070/90.
The pre-planned long positions were implemented with the overlap of minimum estimated target. OsMA trend indicator marked bearish activity rise. On the assumption of it as well as of the absence of close support levels and of descending direction of indicator chart we can suppose further development of short positions priority. In this case it is necessary to pay attention to false break-outs and to the possibility of rate return to the channel borders, therefore you shouldn’t forget about the signals of shorter intervals. As for sales, the targets will be 94,00/10 and (or) further variant up to 93,30/50, 92,20/40. As for buying positions, the targets will be 94,70/90 and (or) further variant up to 95,20/40, 95,80, 96,40.
The estimated targets for long positions were implemented with overlap of maximum targets in the result of rate rebound from support level. OsMA trend indicator, having marked bearish activity top, suggests further rate rise and testing of upper channel border. As for short-term buying positions, the targets will be 1,4440 and (or) further variant up to 1,4520/40, 1,4670. As for sales, the targets will be 1,4360, 1,4260/80 and (or) further variant up to 1,4180/1,4200, 1,4030/50.
FOREX Ltd
www.forexltd.co.uk
Japan’s trade balance came in below analyst expectations late Wednesday, yet surging U.S. equities trumped the disappointing data point as we anticipated. A recovery in U.S. corporate performance implies greater demand for Japanese exports in the future, weakening the Yen and improving prospects of a global economic recovery. Even though Japan’s trade balance was shy of expectations, we’re pretty encouraged by the swift recovery over the past two releases from recession lows. The data reveals export prospects are picking up as stimulus packages ultimately prop up demand for Japanese exports. Employment markets in the developed economies are improving along with consumption, bringing life back to the Japanese manufacturing sector. Japan will release more telling data next week, including retail sales, prelim industrial production, household spending, and the Tokyo core CPI. If the S&P futures can base and continue their ascent while Japanese data points outperform, the USD/JPY could have what it takes to crack our 2nd tier uptrend line.
Yesterday’s movement propelled the USD/JPY back above the important 1st tier uptrend line. The currency pair is making a stronger bit for a return to safety in the process. However, the USD/JPY is being held down by our 1st tier downtrend line and the psychological 95 level. It appears investors will need more confirmation before committing the necessary funds for the currency pair to take a more substantial step higher. Nevertheless, Thursday’s move was encouraging, placing the USD/JPY in a more comfortable territory technically. Meanwhile, our 1st tier downtrend line along with 7/22 and 7/13 lows create a nice immediate-term support system.
Present Price: 94.76
Resistances: 94.99, 95.73, 96.33, 96.77, 97.20
Supports: 94.49, 93.82, 93.28, 92.90, 92.39
Psychological: 95
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