Thread: InstaForex Wave Analysis

Technical analysis of EUR/USD for March 05, 2015

When the European market opens, economic data on the ECB press conference, minimum bid rate, the French 10-y bond auction, the retail PMI, and the German factory orders m/m are expected to be released. The US will announce the infotmation about natural gas storage, factory orders m/m, revised unit labor costs q/q, the revised nonfarm productivity q/q, unemployment claims, and Challenger job cuts y/y. So, EUR/USD will move with medium volatility during this day amid reports.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1133.
Strong Resistance:1.1127.
Original Resistance: 1.1116.
Inner Sell Area: 1.1105.
Target Inner Area: 1.1079
Inner Buy Area: 1.1053.
Original Support: 1.1042.
Strong Support: 1.1031.
Breakout SELL Level: 1.1025.

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GBP/USD Intraday Technical Analysis




When the European market opens, a number of economic news will be released such as Revised GDP q/q, French Trade Balance, French Gov Budget Balance, and German Industrial Production m/m. The US will release the economic data too such as the Average Hourly Earnings m/m, Unemployment Rate, Trade Balance, and Non-Farm Employment Change. So amid the reports, EUR/USD will move with medium to high volatility during this day.


TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1074.
Strong Resistance:1.1068.
Original Resistance: 1.1067.
Inner Sell Area: 1.1046.
Target Inner Area: 1.1020
Inner Buy Area: 1.0994.
Original Support: 1.0983.
Strong Support: 1.0972.
Breakout SELL Level: 1.0966.



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Elliott wave analysis of EUR/JPY for March 9 - 2015



Technical summary: The decline towards an ideal downside target for wave (v) of C continues to unfold as expected. In the short term, we are looking for moving lower towards 129.64 and perhaps even lower towards 128.69 in blue wave iii. As we have seen a series of waves one and two, a series of waves three and four should unfold accordingly. Ideally, a minor resistance at 131.88 is likely to protect the upside from the expected decline towards 129.64


Trading recommendation: We are short EUR from 133.90 and will lower our stop to 132.45. If you are not short EUR yet, then sell EUR near 131.88 with the same stop at 132.45.


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Technical analysis of USD/JPY for March 11, 2015

In Asia, Japan will release the PPI y/y and core machinery orders m/m. The US is expected to release some economic data about bank stress test results, the Federal budget balance, and results of 10-year bond auction. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS: Resistance. 3: 121.90. Resistance. 2: 121.66. Resistance. 1: 121.42. Support. 1: 121.13. Support. 2: 120.89. Support. 3: 120.65.


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Technical analysis of USD/JPY for March 17, 2015



In Asia, Japan will release the results of the BOJ press conference and monetary policy statement. The US is expected to publish economic data about housing starts and building permits. So, there is a big probability that the USD/JPY pair will move with low to medium volatility during the day.


TODAY TECHNICAL LEVELS: Resistance. 3: 122.07. Resistance. 2: 121.83. Resistance. 1: 121.60. Support. 1: 121.31. Support. 2: 121.07. Support. 3: 120.83.



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Technical analysis and trading recommendation of GBP/YEN for March 18, 2015






After release of the BoJ monetary policy meeting minutes, the yen was trading higher against the pound. The cross erased its Monday's gains. It has been consolidating near the fate/fortune level. It's a big day for the US and UK. At the today's Asian session, the pound is trading higher against USD and JPY ahead of crucial big data. The cross is trading in the support zone around 177.95 and 177.80, 200Dema, and 200Dsma respectively. Monthly support is found at 176.70 50Wsma. Weekly resistance is seen at 181.50 and 181.65. The panic will be triggered in case the price closes below 177.80. The cross closes below 50Dsma, so the near and short-term outlooks remain bearish. On a weekly basis, the cross closes below 20Wsma and is trading below it. Until the price closes below 180.50, the bearish view remains in play. Intraday resistance is seen at 179.50. Intraday support is found at 179.60 and 179.10. Trade: selling below 179.60 with targets at 179.10,178.90 and 178.70. Panic below 177.80. Levels to watch- 177.95 177.80 last hope at 177.60. These are valid for this week.


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Technical analysis of EUR/USD for March 20, 2015






When the European market opens, economic data on the EU Economic Summit, Current Account, German PPI m/m are due for release. The US will not release any economic data today. So amid the reports, EUR/USD will move in low volatility during this day.
TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.07.21 Strong Resistance:1.0714. Original Resistance: 1.0704. Inner Sell Area: 1.0694. Target Inner Area: 1.0669. Inner Buy Area: 1.0644. Original Support: 1.0634. Strong Support: 1.0624. Breakout SELL Level: 1.0617.


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Elliott wave analysis of EUR/NZD for March 23, 2015 Technical summary: The decline from 1.4631 (the top of wave iv) has already broken below a low of wave iii at 1.4289 confirming that wave v lower to 1.4079 is unfolding. In the short term, the minor resistance at 1.4340 should protect the upside for a decline towards 1.4079. A break above 1.4340 is going to confuse the picture, but only a break above resistance at 1.4425 is likely to indicate that the bottom is in place. Trading recommendation: We are short EUR from 1.4545 and will move our stop lower to 1.4345. We are late in the decline, but it should be possible to sell near 1.4300 with a stop place at 1.4345 for a decline to 1.4079. More analysis - at instaforex.com

Daily analysis of major pairs for March 24, 2015

EUR/USD: This pair moved upwards by 150 pips on Monday, hitting the resistance line at 1.0950 before a shallow pullback. The resistance line would be overcome soon as the market targets another resistance line at 1.1000, which may also be breached easily as the market continues to be strong.

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Technical analysis of USD/JPY for March 26, 2015

In Asia, Japan is not going to release any economic data. However, the US is expected to publish data on Natural Gas Storage, the flash services PMI, and the number of unemployment claims. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:
Resistance. 3: 119.96.
Resistance. 2: 119.73.
Resistance. 1: 119.49.
Support. 1: 119.20.
Support. 2: 118.97.
Support. 3: 118.73.

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