Thread: InstaForex Wave Analysis

GBP/CHF slide poised to accelerate. Remain short




Technical outlook and chart setups:
he currency pair tested the rising support line and fell back yesterday, as depicted in the Daily chart. Implications are bearish for GBP/CHF from here. Hence the recommendation is not changed - to maintain short positions for now. Immediate resistance would be at 1.4300 level, which was a high two days ago, followed by 1.44. Strong resistance is placed at 1.48 and 1.5. Looking into the wave structure, the next swing lows could be below 1.4 level in the coming days/weeks. Looking lower for now.


Trading recommendations:
Remain short, stop at 1.44, target is open

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Elliott Wave analysis of EUR/NZD for August 8, 2013




Today's Support and Resistance levels:
R3: 1.6946
R2: 1.6872
R1: 1.6796
Current Spot: 1.6760
S1: 1.6718
S2: 1.6656
S3: 1.6623


Technical summary:
The break below the important support at 1.6771 yesterday invalidated my bullish count and told us, that the rally from the low of 1.6225 is only a B-wave in flat correction. Therefore, we will have to change our focus from the upside towards the downside until this ongoing correction is over.
I'm now looking for resistance at 1.6796 to protect the upside from a break below 1.6718, which will be the first good indication, that we can expect the impulsive decline lower at least towards 1.6623 and likely even deeper towards 1.6456.
In the short-term outlook, a break above 1.6799 will confuse the Picture, but only a break above 1.6872 will question the bigger Picture.


Trading recommendation:
The stop at 1.6765 was hit for a small loss. Sell EUR here at 1.6760 with a stop at 1.6875. Target is at 1.6225.


More analysis - at instaforex.com

Yen Little Changed Following Consumer Confidence Index



Japan's consumer confidence index for July has released at 1:00 am ET Friday. The yen changed little against other major currencies after the data.
The yen is now trading at 96.40 against the greenback, 149.87 against the pound, 104.88 against the franc and 129.06 against the euro.

News are provided by InstaForex.

Silver tests backside of resistance line. Initiate short positions against 21.00 now



Technical outlook and chart setups:
The metal has breached through the resistance line now, around 20.25/30 levels. Hence, it is recommended to initiate short positions against 21.00. Immediate resistance is at 20.70/75, followed by 22.50/23.00; while support is around 18.70, followed by 18.25 levels. The wave structure indicates that a dip down ward movement towards 18.70/50 levels is possible before next leg higher up. The entire structure may be turning as a 3 wave pullback for now. Looking lower at least for the short-term prospect.


Trading recommendations:
Remain short, set stop at 21.00, target is at 18.50.


More analysis - at instaforex.com

EUR/JPY technical analysis for August 12, 2013




Today, EUR/JPY is still in the downside situation; it was indicated by that all the three moving averages have still formed the "Death Cross Pattern" but now this currency is held by the EMA 34 as its dynamic resistance.


RECOMMENDATION:
SELL Stop (Pending Order) at 128.49.
Stop Loss at 128.59.
Take Profit at 128.35.


More analysis - at instaforex.com

EUR/USD - Sell below 1.3387 - for August 13, 2013 (daily strategy)




Yesterday, the Euro in the Week opening left a gap that was covered at the beginning of the day, after it had a significant correction to the levels of the 15-day moving average, now we see that this bouncing, hope this stops at 1.3360 area, given that today's European session will be unveiled German ZEW Economic Sentiment, the analyst expected at 40.3, to be more optimistic compared to the previous month of 36.3, therefore we believe that this data can drive the euro but only few make a pullback, since it is located in area of high pressure bearish according the indicator of MACD and Momentum. Therefore, we recommend the next signal on the chart below.


More analysis - at instaforex.com

USD/JPY intraday technical levels for August 14, 2013




TODAY's TECHNICAL LEVEL:
Resistance. 3: 98.72.
Resistance. 2: 98.52.
Resistance. 1: 98.33.
Support. 1: 98.09.
Support. 2: 97.90.
Support. 3: 97.70.


DESCRIPTION:
Please, pay attention to the levels of support 3 (97.70) and resistance 3 (98.72). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that this currency pair has found a trend today.

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Silver inching towards 22.50 Resistance



Technical outlook and chart setups:
The metal has staged an impressive rally towards 22.20/30 levels till now. The 20.50 region should be past resistance turned support for the time being. A final push higher towards 22.50 would be required to confirm a major bullish reversal though. Resistance is at 22.50/23.00 levels, while support is at 19.20 and lower for now. Hence it is recommended to exit short positions, and watch out for the price reaction at 22.50 levels, before concluding a possible trade setup. The overall trend still remains bearish for now and a failure at 22.50 would warn a bearish reversal.


Trading recommendations:
Flat for now.


More analysis - at instaforex.com

EUR/JPY technical analysis for August 21, 2013



Even the Bullish movement in all pairs with EUR has still dominated in the market base� on the rumors ECB wants to raise up its rate, and the Yen self has get a pressure because the lack of some fundamental data but now the EUR/JPY still moving in a ranging situation between the 129.25 to 131.00, maybe this happen because the market participant waiting the FOMC meeting minutes in a few day again.


RECOMMENDATION:
BUY Stop (Pending Order) at 130.76.
Take Profit at 130.90.
Stop Loss at 130.66.

More analysis - at instaforex.com

EUR/JPY technical analysis for August 22, 2013




Since yesterday, the 131.00 level has already acted as strong resistance, although all the three moving average still make the "Golden Cross" pattern, this means the upside trend still continue in this pair, as long this currency not going down and breach bellow the EMA 100 (green) the uptrend situation still in a healthy condition.


RECOMMENDATION:
BUY Stop (Pending Order) at 131.26.
Take Profit at 131.30.
Stop Loss at 131.16.


More analysis - at instaforex.com