Thread: InstaForex Wave Analysis

Technical analysis of EUR/USD for Feb 08, 2017





When the European market opens, some Economic Data will be released, such as German 10-y Bond Auction, and EU Economic Forecasts. The US will release the economic data, too, such as 10-y Bond Auction, and Crude Oil Inventories, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0728.
Strong Resistance:1.0721.
Original Resistance: 1.0711.
Inner Sell Area: 1.0701.
Target Inner Area: 1.0676.
Inner Buy Area: 1.0651.
Original Support: 1.0641.
Strong Support: 1.0631.
Breakout SELL Level: 1.0624.


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Technical analysis of EUR/USD for Feb 09, 2017





When the European market opens, some Economic Data will be released, such as German Trade Balance. The US will release the economic data, too, such as 30-y Bond Auction, Natural Gas Storage, Final Wholesale Inventories m/m, and Unemployment Claims, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0738.
Strong Resistance:1.0731.
Original Resistance: 1.0721.
Inner Sell Area: 1.0711.
Target Inner Area: 1.0686.
Inner Buy Area: 1.0661.
Original Support: 1.0651.
Strong Support: 1.0641.
Breakout SELL Level: 1.0634.


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Technical analysis of USD/JPY for Feb 10, 2017





In Asia, Japan will release the Tertiary Industry Activity m/m and PPI y/y data, and the US will release some Economic Data, such as Federal Budget Balance, Prelim UoM Inflation Expectation, Prelim UoM Consumer Sentiment, and Import Prices m/m. So, there is a probability the USD/JPY will move with low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Resistance. 3: 114.27.
Resistance. 2: 114.05.
Resistance. 1: 113.82.
Support. 1: 113.55.
Support. 2: 113.32.
Support. 3: 113.10.


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Technical analysis of EUR/USD for Feb 13, 2017





When the European market opens, some Economic Data will be released, such as German Buba Monthly Report and German WPI m/m. Today, the US will not release any economic data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0672.
Strong Resistance:1.0665.
Original Resistance: 1.0655.
Inner Sell Area: 1.0645.
Target Inner Area: 1.0620.
Inner Buy Area: 1.0595.
Original Support: 1.0585.
Strong Support: 1.0575.
Breakout SELL Level: 1.0568.


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Technical analysis of EUR/USD for Feb 14, 2017





When the European market opens, some Economic Data will be released, such as EU Economic Forecasts, ZEW Economic Sentiment, Industrial Production m/m, German ZEW Economic Sentiment, Flash GDP q/q, Italian Prelim GDP q/q, German Final CPI m/m and German Prelim GDP q/q. The US will release the economic data, too, such as Core PPI m/m, PPI m/m, NFIB Small Business Index, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0651.
Strong Resistance:1.0644.
Original Resistance: 1.0634.
Inner Sell Area: 1.0624.
Target Inner Area: 1.0599.
Inner Buy Area: 1.0574.
Original Support: 1.0564.
Strong Support: 1.0554.
Breakout SELL Level: 1.0547.


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Daily analysis of GBP/USD for February 16, 2017


The pair was trading in a bearish tone during Wednesday's session, consolidating its price action below the 200 SMA at H1 chart and that should be giving us a hint of further declines in the short-term. If GBP/USD manages to break below the support zone of 1.2414, then we can expect another bearish advance toward 1.2360. MACD indicator is entering the positive territory, favoring to a possible recovery in the Cable.





H1 chart's resistance levels: 1.2480 / 1.2561
H1 chart's support levels: 1.2414 / 1.2360


Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2480, take profit is at 1.2561 and stop loss is at 1.2398.


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Elliott wave analysis of EUR/JPY for February 17, 2017





Wave summary:


We continue to look for a break above minor resistance seen at 121.05 and more importantly a break above resistance at 121.77 that will confirm red wave iii higher to at least 123.47 is unfolding. Short-term we expect minor support seen at 120.65 will be able to protect the downside for the expected break above 121.05. However, a break below 120.65 will delay the expected rally in red wave iii for a move closer to 120.18 before higher again.


R3: 122.01
R2: 121.73
R1: 121.33
Pivot: 120.95
S1: 120.65
S2: 120.18
S3: 120.10


Trading recommendation:


We are long EUR from 120.15 with stop a break-even. If you are not long you yet, then buy a break above 121.05 and use the same stop at 120.15.




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Technical analysis of EUR/USD for Feb 20, 2017





When the European market opens, some Economic Data will be released, such as Consumer Confidence and German PPI m/m. The US today will not release any Economic Data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0669.
Strong Resistance:1.0662.
Original Resistance: 1.0652.
Inner Sell Area: 1.0642.
Target Inner Area: 1.0617.
Inner Buy Area: 1.0592.
Original Support: 1.0582.
Strong Support: 1.0572.
Breakout SELL Level: 1.0565.


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Elliott wave analysis of EUR/NZD for February 21, 2017





Wave summary:
We continue to look for a firm break above resistance at 1.4866 that finally will confirm that a long-term low is in place at 1.4495 and a new impulsive rally higher in wave 3 has begun. The first minor targets to look for is seen at 1.5282 and at 1.5516 on the way towards 1.5836 that is expected to mark the first more substantial resistance. But first we need that break above 1.4866.
R3: 1.5000
R2: 1.4945
R1: 1.4866
Pivot: 1.4800
S1: 1.4745
S2: 1.4675
S3: 1.4620


Trading recommendation:
We are long EUR from 1.4844 with stop placed at 1.4490. If you are not long EUR yet, then buy a break above 1.4866 and use the same stop at 1.4490


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Elliott wave analysis of EUR/NZD for February 22, 2017





Wave summary:
We still need a firm break above important resistance seen at 1.4866 to confirm that a long-term low is in place with the test of 1.4495 and a new long-term impulsive rally has begun. Short term, we need to accept a more complex wave [ii] correction unfolding to just below 1.4618 as long as important resistance at 1.4866 holds firm. Under no circumstances can a break below 1.4495 be allowed under this count.


R3: 1.4955
R2: 1.4866
R1: 1.4803
Pivot: 1.4718
S1: 1.4661
S2: 1.4610
S3: 1.4571


Trading recommendation:
We are long EUR from 1.4840 with stop placed at 1.4490. If you are not long EUR yet, then buy a break above 1.4866 and use the same stop at 1.4490.


More analysis - at instaforex.com