Thread: InstaForex Wave Analysis

Daily analysis of GBP/USD for November 18, 2014






The GBP/USD pair continues to find support on the bearish trend line at the level of 1.5635, which is prompting the pair to strengthen the current bearish trend on H4 chart. However, the GBP/USD pair could form a double bottom pattern to rise again to the resistance level of 1.5698. The aforesaid movement may be a corrective move in favor of the bearish trend and the following objective remains at the support level of 1.5512. The MACD indicator remains in the positive territory.
H4chart's resistance levels: 1.5698 / 1.5811
H4chart's support levels: 1.5600 / 1.5512



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Daily analysis of major pairs for November 19, 2014






EUR/USD:
This market also shows protracted efforts by bulls to push the price upwards, as bearish pulls are being rejected. A movement above the resistance line at 1.2600 would mean the end of the bearish bias, leading to a Bullish Confirmation Pattern in the market.



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Daily analysis of major pairs for November 20, 2014






EUR/USD: There is now a Bullish Confirmation Pattern in the chart, which would become stronger as the price manages to cross the resistance line at 1.2600 to the upside, closing above it. Moreover, many strong economic figures are expected today and they will have a serious impact on the markets.



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Daily analysis of USDX for November 21, 2014

At the H4 chart, the USDX has still been following the bullish trend line at the support level of 87.35. However, the USDX has formed several fractals at the resistance level of 87.93, so this instrument has lost bullish force in the medium term and eventually the USDX could fall to the level of 86.75 next week.
H4chart's resistance levels: 87.93 / 88.19
H4chart's support levels: 87.35 / 87.00



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Daily analysis of USDX for November 24, 2014


In the daily chart, the USDX had a bullish momentum at the support level of 87.35, because this instrument continues forming a pattern for a bullish breakout at the resistance level of 88.63. If successful, it's expected to rise to the level of 90.40. However, caution is advised with sell orders in the long term, because the USDX intends to continue strengthening the bullish trend.
Dailychart's resistance levels: 88.63 / 90.40
Dailychart's support levels: 87.35 / 86.20



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Daily analysis of major pairs for November 25, 2014



EUR/USD: After testing the support line at 1.2400, this market trended upwards. There is still a Bearish Confirmation Pattern in the market, which can only be rendered invalid when the price goes above the resistance line at 1.2600. Otherwise, the price may go further downwards from here.



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Daily analysis of major pairs for November 26, 2014



EUR/USD: This currency trading instrument is making some commendable effort to go bullish, though some odds are still against it. An upward movement of over 110 so far this week is formidable enough, and when price goes above the resistance line at 1.2600, then things would have gone bullish. However, this goal is not currently easy to achieve.

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Daily analysis of GBP/USD for November 27, 2014




On the daily chart, the GBP/USD pair gained a bullish momentum above the support level of 1.5746, where the pair is trying to reach the level of 1.5883. If the GBP/USD pair manages to make a breakout in that area, the next target would be the 1.6046 level. However, the GBP/USD pair could enter a phase of consolidation in the coming days due to low liquidity expected on the American markets. The MACD remains in the positive territory.
Dailychart's resistance levels: 1.5883 / 1.6046
Dailychart's support levels: 1.5746 / 1.5642


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Technical analysis of EUR/USD for November 28, 2014






When the European market opens, some economic news will be released such as German Retail Sales m/m, French Consumer Spending m/m, Italian Monthly Unemployment Rate, Italian Quarterly Unemployment Rate, CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate, and Italian Prelim CPI m/m. The US will not release any economic reports. So, in this context EUR/USD will move with low to medium volatility during this day.


TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2513.
Strong Resistance:1.2505.
Original Resistance: 1.2493.
Inner Sell Area: 1.2481.
Target Inner Area: 1.2451.
Inner Buy Area: 1.2421.
Original Support: 1.2409.
Strong Support: 1.2397.
Breakout SELL Level: 1.2389.



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Technical analysis of EUR/USD for December 02, 2014




When the European market opens, some economic news will be released such as Spanish Unemployment Change and PPI m/m. Besides, the US will release the economic data too such as the Construction Spending m/m and Total Vehicle Sales. So, amid the reports, EUR/USD will move with low to medium volatility during this day.


TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2526.
Strong Resistance:1.2528.
Original Resistance: 1.2516.
Inner Sell Area: 1.2504.
Target Inner Area: 1.2474.
Inner Buy Area: 1.2444.
Original Support: 1.2432.
Strong Support: 1.2420.
Breakout SELL Level: 1.2412.



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