Thread: InstaForex Wave Analysis

Fundamental analysis of Crude for January 30, 2014






The US Fed is expected to cut its bond purchases by another $10 billion. So starting in February, it will buy $65 billion in bonds per month. Also, there are growing concerns about the impact of slower growth inChina that make the US dollar stronger. Estimates from 11 analysts surveyed showed thatUS oil inventories are projected to have risen by 2.2 million barrels onaverage in the week ended January 24, 2014. Crude oil inventories rose6.4 million barrels, thus contributing to decrease in oil prices. Technical front crude is trading above the level $97 which is a bullishfactor. Oscillators gave mixed indications resulting in limited downside.
Support- $96, $91.75
Resistance- $97.8, $99.76




More analysis - at instaforex.com

Technical analysis of USD/CAD for February 6, 2014






Overview:

The USD/CAD pair has already formed a strong resistance at the level of 1.1163; furthermore, the same level is coinciding with the ratio of 78.6% Fibonacci retracement levels. Equally important, it should be noticed that a minor support will be set at the level of 1.1025 around the 38.2% Fibonacci retracement levels in H1 chart. As shown, the price of the USD/CAD pair has been trapping between 1.1030 and 1.1150; it should be also noted that the price moved higher to 1.1170 and turned lower. So, the range will be about 130 pips this week. Additionally, the RSI and the moving average (100) are still calling for sideways trend. Consequently, the market is going to indicate bullish opportunities at the levels of 1.1025 and 1.1033; with the first target of 1.1110 and continuing towards 1.1163 in order to the resistance at the 1.1163 price. On the other hand, if the price closes below 1.1163. Hence, the price will call for a bearish market to go further towards the double bottom at 1.1060 to test it again.




More analysis - at instaforex.com

Technical analysis of USD/JPY for February 7, 2014










In Asia, Japan will release the Leading Indicators and the US will release some economic data such as US-Non-Farm Employment Change, US-Unemployment Rate, US-Average Hourly Earnings m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with medium to high volatility during the US session.


TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.51.
Resistance. 2: 102.31.
Resistance. 1: 102.11.
Support. 1: 101.86.
Support. 2: 101.66.
Support. 3: 101.46.


DESCRIPTION:
Please, pay attention to the levels of support 3 (101.46) and resistance 3 (102.51). Normally, when a level is touched, USD/JPY will rebound 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 these currencies have found trends today.




More analysis - at instaforex.com

Technical analysis of Silver for February 10, 2014.








Technical outlook and chart setups:
1. Silver remains unchanged for now. It is likely to move in a trading range between $19.00 and $20.00 for a while before breaking higher. Recommendations are to hold long positions for now, risk remains at $18.50.

2. Intermediary support is at $19.00, followed by $18.75, while resistance is at $20.50 (intermediary), $21.00 and higher.

3. The structure reveals that the metal could trade between $19.00/20.00 levels for a while before thrusting higher. $18.75/50 levels should hold well now.
Trading recommendations:
Remain long, stop at $18.50, target open.




More analysis - at instaforex.com

Weekly technical levels of USD/CHF for February 11-14, 2014








Trading recommendations:
According to the previous events, the price of the USD/CHF pair has still been trapped between 0.8960 and 0.9005. As it is known, if the trend is upward, then the strength of the currency pair will be defined as following: USD is in uptrend and CHF is in downtrend. Consequently, we expect that the trend is going to call for a bearish market at the level of 0.9020 in H1 chart. Additionally, it should be noted that the range today will be about 90 pips. Thereupon, sell at the price of 0.9020 with the first target of 0.8975, it might resume to 0.8932 in order to test the weekly support 1 on February 11, 2014. At the same time, the stop loss should never exceed your maximum exposure amounts. Accordingly, your stop loss should be placed above the 0.9055 level.




More analysis - at instaforex.com

Technical analysis of EUR/JPY for February 12, 2014




[IMG]http://forex-images.instaforex.com/u...py12022014.jpg[/IMG]




Technical outlook and chart setups:
1. The EUR/JPY pair has tested resistance line at 140.00 levels as seen here. It is still recommended to remain flat and await for a reaction here. Aggressive traders may go short, risk remains at 143.00.
2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are fixed at 134.00, followed by 131.00 and lower respectively.
3. The entire structure remains bullish till prices are above support line which is passing through 134.50 at the moment. A pullback is expected at least towards 137.50 before the rally resumes further.


Trading recommendations:
Flat for now.





More analysis - at instaforex.com

Technical analysis of GBP/CHF for February 13, 2014


Technical outlook and chart setups:
1. The GBP/CHF rose past the trading range and broke higher yesterday. Trading at around 1.4950 levels at the moment, the setup still favors bears to take control back. As seen here, the pair has retraced up to 0.618 fibonacci resistance at 1.4950. It is expected to reverse from here towards fresh lows. It is recommended to remain short and also add fresh now.

2. Immediate resistance is fixed at 1.5120/30, while supports are spread through 1.4550, followed by 1.4350 and lower respectively.
3. The structure is still favorable to bears till prices remain capped below 1.5120/30 levels. Current price action is a clear opportunity to initiate further short positions.


Trading recommendations:
Remain short, stop is at 1.5130, target is open.


More analysis - at instaforex.com

Technical analysis of gold for February 14, 2014






The US retail sales data softened the US dollar and made greenticks in gold. Gold made a high at the level of $1,302.70 yesterday. Thisyear gold started in a good mood reaching a 3-month high. The rally we have seen sofar came from short covering. In Asia's trading session just now gold has made ahigh at $1,307.0. In the hourly and daily charts RSI gave a sell signal. August28, 2013 RSI reached 71.71, at that time gold was trading at the level of $1,433.3.Currently, in the daily chart RSI stood at 70 and the price is trading at thelevel of $1,307.0. Whereas, in the hourly chart RSI stood in the overbought zone atthe level of 75, which does not favor bulls. Probably, gold can stretch its leg upto $1,326, chances are remote.


We recommend to start selling from cmp $1,306.5, targets are $1,300.0,$1,294.0, $1,285.0, and $1,277.0.




More analysis - at instaforex.com

[B]Technical analysis of gold for February 17, 2014[B]










Gold gains amid weak US economic data. New Federal Reserve chairperson Yellen stated that theFed would maintain an accommodative stance on monetary policy. The statement caused weakness of USD. Gold sits at a 3-month high. Gold made the largestweekly increase since August and it jumped 9.7% this year so far. Even in overbought territory, gold is ralling today at Asia's trading session. In the Asia's tradingsession gold is moving towards the resistance zone at the level of $1,335.It made a high at $1,329.65. Until gold crosses the level of $1,335, we do not expect furtherupmove. In the hourly and daily charts, RSI stays in the overbought area.We remain bearish on the yellow metal. India reaches ahead if the wedding periodstarts from March and the central government eases its ban on gold import inthis month due to the election period. The Indian government increasedcustoms duty on the yellow metal three times in 2013. India is likely to seeless than 500 tonnes of gold import in FY4 if the government does not loose theimport restrictions.



More analysis - at instaforex.com

[B]Technical analysis of GBP/CHF for February 18, 2014[B]



Technical outlook and chart setups:
1. The GBP/CHF pair remains structurally unchanged for now. The pair has retraced to1.4950/60, which is also fibonacci 0.618 resistance as seen here. The rally has stalled and a possible down move should be on the way. It is recommended to remain short, risk remains at 1.5120.
2. Intermediary resistance is at 1.4950/60, followed by 1.5120/30, while supports are spread through 1.4550/60, followed by 1.4350/60 respectively.
3. The structure is indicative of a potential head and shoulder reversal formation as seen here. A potential right shoulder has been carved out at 1.4950/60 levels and the next large move could be lower towards 1.43 levels at least. Trading recommendations: Remain short, stop is at 1.5130, target is open.



More analysis - at instaforex.com