Thread: InstaForex Wave Analysis

[B]Technical analysis of USD/CAD for Febuary 19, 2014[B]




General overview for 19/02/2014 08:30 CET
The count has been slightly changed as the momentum is slowing and the market might be in final stages of the ending diagonal wave (v) pattern. Any breakout above the level of 1.0938 is bullish, and the bottom for the whole blue impulsive cycle might be in place. On the other hand, in case of downside breakout below the level of 1.0923, the next support is at the level of 1.0900. Please notice the bullish divergence has formed on momentum .

Support/Resistance:
1.0994 - Weekly Pivot
1.0987 - Technical Resistance
1.0938 - Technical Resistance
1.0923 - Intraday Support
1.0900 - WS1
Trading recommendations:
The buy orders should be opened from the level of 1.0941 with SL below the level of 1.0923 and TP at the level of 1.0987.




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Daily analysis of GBP/JPY for February 20, 2014




Overview
As it was expected, we should wait for breaking the Resistance area of 172.00-171.50 before making a decision to continue the bullish move. Yesterday, as it is shown in the H4 chart, the pair failed to break this Resistance level to trade below this area and above the Support level of 169.75. Currently, it is testing the Support level of 169.75 trying to break it through to continue its bearish move. If the pair manages to break this Support level and closes 4H below, it would be another good opportunity for more sell-signals till reaching the Support level of 168.50 as the first target.


Resistance and Support levels: R3 (172.00), R2(171.50), R1(170.50), S1 (169.75), S2 (168.50), S3(167.00).




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Technical analysis of USD/JPY for February 21, 2014






In Asia, Japan will release the Monetary Policy Meeting Minutes, and the US will release the economic data such as US-Existing Home Sale. So there is a big probability the USD/JPY will move with low volatility during this day.


TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.95.
Resistance. 2: 102.75.
Resistance. 1: 102.55.
Support. 1: 102.30.
Support. 2: 102.10.
Support. 3: 101.90.


DESCRIPTION:
Please, pay attention to the levels of support 3 (101.90) and resistance 3 (102.95). 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.




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Weekly technical levels of GBP/USD for February 24-28, 2014




Trading recommendations:
As it is known, sellers are asking for a high price as well as buyers are bidding at a lower price. Therefore, the first key level will set at the level of 1.6755 and the second key level will set at the 1.6545 level on February 24, 2014. Equally important, the price of the GBP/USD pair has still been moving between 1.6683 and 1.6603. Additionally, it should be noted that the range was about 210 pips last week. Furthermore, the trend was very clear and was indicating in downtrend. Accordingly, we expect that the trend is going to call for a bearish market at the level of 1.6750 in H1 chart. As a result, sell at the price of 1.6750 with the first target of 1.6663, it might resume to 1.6544 in order to test the weekly support 1. on the other hand, your stop loss should be placed above the 1.6755, hence it will helpful to set it at the price of 1.6780.





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Technical analysis of EUR/JPY for February 25, 2014



Technical outlook and chart setups:
1. EUR/JPY remains more or less unchanged within the 140.00/50 territory. Recommendations are to remain short for now, the risk remains at 143.00 levels. A push through 143.00 would indicate further strength and challenge 145.50.

2. Immediate resistance is at 142.00/50, followed by 145.50; while supports are spread through 136.50 (intermediary), 134.00, 131.00 and lower respectively.

3. The structure indicates that bears would remain in control untill prices remain under 143.00. Immediate target would be towards the rising support line near 135.00 region now. A break lower will indicate further weakness towards 131.00.


Trading recommendations:
Remain short, stop at 143.00 target open.

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Technical analysis of USD/IDR for February 26, 2014







The USD/IDR now have a good strengthened momentum against USD by a few factors such as:

1. Jannet Yallen's policy on the FED's Stimulus.
2. The JSX (Jakarta Stock Exchange) rebound causes the capital inflow to Indonesia.
As we know, USD/IDR has a positive correlation with the JSX indices which are influenced by the Dow, Nikkei, Hangsheng, Strait Times indices. Today this currency has a good strength momentum to 11.380 (low), but after the 11.380 level, the USD/IDR going back to 11.635 again, and at the Daily Charts Candle, it has already made a hanging man formation. This situation happened because the Indonesian stock market has already a technical issue and getting down into the red zone. As we know, since February 17, 2014 many capital inflow have already come to Indonesia especially in the Money Market, and it is normal if this currency has a little pullback. As long the USD/IDR does not breach and close above 11.692.45, this currency will play between the 38.2% to 61.8% Fibonacci area's (11.692.45 - 11332.55); otherwise if they can breach and close bellow 11.332.55, it will have a chance to go down to the 78.6% (11.076.35) level.




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EUR/AUD intraday technical levels and trading recommendations for February 27, 2014






The EUR/AUD pair initiated a downside movement on January 24. This movement is maintained within the depicted bearish channel. On February 13, the bulls expressed a bullish breakout above the upper limit indicating weakness of the ongoing bearish momentum. Simultaneously, the bulls established an inverted Head and Shoulders pattern off 1.5000. The neckline is roughly located at 1.5265. Confirmation of bullish reversal is evident with Four-Hour fixation above the price level of 1.5265. However, the pair consolidated below 1.5265 for a few hours before the bulls pushed again above it. Projection target of this confirmed reversal pattern is located at 1.5525 as long as neckline 1.5265-1.5200 remains defended by the bulls (our stop loss levels). Breakout above 1.5370 is essential to pursue further bullish targets of the Head and shoulders pattern. On the other hand, consolidation below 1.5200 threatens our bullish view hindering further bullish progression allowing a sideway movement to take place between 1.5265 and 1.5080.



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Technical analysis of EUR/JPY for February 28, 2014







Technical outlook and chart setups:
1. The EUR/JPY pair loos to have for

med a lower top around 141.00 region. Prices are pushing lower below 139.00 and hence recommendations are to hold short positions taken earlier. Risk remains at 143.00.

2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are spread through 136.20/30 (intermediary), followed by 134.00/135.00, 131.00 and lower respectively.
3. The structure reveals that bears are in control below 143.00. Prices should continue to drift lower towards 135.00/136.00 and subsequently towards 132.00.


Trading recommendations:
Remain short, set stop at 143.50, target is open.




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Technical analysis of USD/CHF for March 04, 2014








The USD/CHF'sdownward movement from 0.9081 extended to as low as 0.8777. Further declinecould be expected after a minor consolidation, and the next target would be at the 0.8700 area. In the hourly chart, thepair is holding above the moving averages that is a bullish view. Theimmediate resistance is at the level of 0.8864 on the intraday basis. Until the priceholds the support at 0.8818, we can expect some pullback. If the price breaks it,next support will be at 0.8792 and 0.8777.




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Technical analysis of Gold for March 06, 2014





Technical outlook and chart setups:

1. The metal remains unchanged after producing an engulfing bearish candle earlier. Currently trading at $1,337.00/38, Gold is expected to rally through the $1,345.00/50.00 region today before reversing lower. It is recommended to remain short and also look to add further at above levels. Risk remains at $1,359.50/61.00.
2. Immediate resistance is at $1,355.00 (intermediary), followed by $1,361.00 and $1,375.00, while supports are spread through $1,320.00, followed by $1,280.00/85.00, $1,230.00/40.00 and lower respectively.
3. The structure indicated that Gold should be headed lower after an engulfing bearish candle appearance. $1,240.00/50 remains level of interest.
Trading recommendations:
Remain short, stop at $1,362.50, target open.




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