Thread: InstaForex Wave Analysis

Technical analysis of GBP/USD for February 13, 2015







Overview: According to the previous events, the price of GBP/USD called for a strong bullish market from the price of 1.5200 yesterday (February 12, 2015). Therefore, the market will continue to move between the levels of 1.5366 and 1.5405 today. So, it would be wise to excercise caution in this range around the level of 50% Fibonacci retracement because the ratio of 50% coincides with the price of 1.5368. So, the first step is to wait for a period of tight sideway range market before breakouts. Then, the possible scenario is that the market is going to start showing signs of the bullish market again. In other words, it will be a good sign to buy above the level of 1.5360 with a first target of 1.5433 which climbs towards the first resistance around the area of 1.5467 (61.8% of Fibonacci retracement levels on H4 chart). However, if the the pair cannot break this resistance, hence the market will indicate a bearish opportunity below 1.5470. Then, the level is going to act really as strong resistance. Accordingly, it will be a good idea to sell below 1.5470 with a first target of 1.5402 and it is going to call for a downtrend in order to continue the bearish market towards 1.5332 on February 13, 2015.


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Daily analysis of GBP/USD for February 17, 2015






The Monday session was supposed to be a slow one for the GBP/USD pair, but in fact the bearish bias took the control again of this pair for a while. However, currently, our targets still remain on the upside at the resistance level of 1.5491. The current moves could deliver a bullish pattern on the daily chart. The MACD indicator is still on the positive territory.

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Technical analysis of USD/JPY for February 18, 2015





In Asia, Japan will release the BOJ Press Conference and Monetary
Policy Statement. The US will also release some economic reports such
as Industrial Production m/m, Capacity Utilization Rate, Housing
Starts, Core PPI m/m, PPI m/m, and Building Permits. So, there is a
big probability the USD/JPY pair will move with low to medium
volatility during the day.


TODAY TECHNICAL LEVELS:
Resistance. 3: 119.90.
Resistance. 2: 119.67.
Resistance. 1: 119.44.
Support. 1: 119.15.
Support. 2: 118.92.
Support. 3: 118.68.

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Technical analysis of NZD/USD for February 20, 2015





Overview: The NZD/USD pair will probably continue straight from the level of 0.7478 (at 61.8% of Fibonacci retracement levels on H1 chart). Besides, it should be noted that the double bottom will be formed at the same level of 0.7478. Therefore, the NZD/USD pair is showing signs of strenght following the break of the first resistance level of 0.7500. So it will be a good idea to buy above the level of 0.7470 or/and 0.7500 with the first target of 0.7548 and further towards the last peak point 0.7577 (it will act as a strong resistance, so that it is going to be a good place to take profit, it should be also noted that this level of taking profit will coincide with 100% of Fibonacci). However, in case reversal takes place and the NZD/USD pair breaks through the support level of 0.7478, the market will lead to further decline to 0.7443 and then 0.7414 in order to indicate for the bearish market on February 20, 2015.
Trading recommendations: According to previous events, the price will move between 0.7577 and 0.7415. Buy above 0.7480 with the first target of 0.7546, it might resume to 0.7570. Below the level of 0.7463 look for further downside with the 0.7443 and 0.7414 targets.


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GBP/JPY Elliott wave count and Fibonacci levels for April 25, 2012




EUR/USD: This currency trading instrument moved largely sideways last week as bulls and bears struggled in vain for significant supremacy, being swayed by transitory buying and selling pressure. There is a support line at 1.1300 and a resistance line at 1.1450; and the price would break either to the downside or the upside. Nevertheless, a break above the resistance line at 1.1450 is more likely this week.


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Technical analysis of USD/CHF for February 26, 2015




Overview: The USD/CHF pair is calling for the bullish market from the levels of 0.9089, 0.9300, and 0.9405 since last week. Nowadays, the level of 0.9405 is representing support 1. Moreover, it should be noticed that the USD/CHF pair is still moving between the first support and first resistance which are setting at the 0.9405 and 0.9595 prices respectively. As it is known, the chronicle will probably repeat itself at these levels again. Therefore, as the upward trend is still strong on H4 chart, it will be a good sign to buy above the level of 0.9405 with the first target of 0.9522 (minor resistance on the same chart). It will call for an uptrend in order to continue its bullish movement towards 0.9595 in coming days. Also, we should bear in mind that the strong resistance (0.9595) is coinciding with the ratio of 78.6% Fibonacci retracement levels. However, a stop loss should never exceed your maximum exposure amounts. Consequently, the stop loss should be placed below the support of 0.9405 at the price of 0.9372.

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Technical analysis of USD/CAD for February 27, 2015

Overview: The market of the USD/CAD pair is continuing to show signs of strength following the break level of 1.2402. Besides, resistance of the USD/CAD pair broke and turned to support a month ago (26th of January 2015). It should be noted that the pair has already formed strong support at the level of 1.2402. Hence, the market indicates a bullish opportunity at the level of 1.2400/1.2390 with a first target at 1.2533 and continues towards 1.2594 which represents strong resistance on February 27, 2015. However, according to previous events, the price has still traded between 1.2402 and 1.2594. Thereupon, if the trend can break this level and close below the price of 1.2390, then we expect the market to gain a convincing downside momentum and the structure of the fall does not look corrective. For that reason, the market will indicate a bearish opportunity at the spot of 1.2594. As the price is below 1.2594, look for further downside with a target of 1.2420.

Analysis are provided by InstaForex

Technical analysis of EUR/USD for March 02, 2015






When the European market opens, some economic news will be released such as Unemployment Rate, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Quarterly Unemployment Rate, Italian Monthly Unemployment Rate, Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. Besides, the US will release a number of economic reports such as the ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.


TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1221.
Strong Resistance:1.1215.
Original Resistance: 1.1204.
Inner Sell Area: 1.1193.
Target Inner Area: 1.1167.
Inner Buy Area: 1.1141.
Original Support: 1.1130.
Strong Support: 1.1119.
Breakout SELL Level: 1.1113.




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Daily analysis of major pairs for March 3, 2015






EUR/USD: This pair is still bearish in outlook, and is not yet able to go upwards significantly, following a strong bearish run that happened at the end of last week. As long as this pair is weak, the USD/CHF (which normally gets negatively correlated to the EUR/USD) would not be able to go downwards. The price is currently between the support line at 1.1150 and the resistance line at 1.1200. The support line is likely to be breached to the downside but the price may be unable to close below it, because the outlook on the EUR is upbeat.


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Technical analysis of EUR/USD for March 04, 2015

When the European market opens, economic data on retail sales m/m, the final services PMI, the Italian services PMI, and the Spanish services PMI will be released.The US is expected to release economic data on the Beige Book, crude oil inventories, the ISM mon-manufacturing PMI, the final services PMI, and the ADP non-farm employment change. So, EUR/USD will move with low to medium volatility during this day amid the reports.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1234.
Strong Resistance:1.1228.
Original Resistance: 1.1217.
Inner Sell Area: 1.1206.
Target Inner Area: 1.1180.
Inner Buy Area: 1.1154.
Original Support: 1.1143.
Strong Support: 1.1132.
Breakout SELL Level: 1.1126.

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