Thread: InstaForex Wave Analysis

Technical analysis of USD/CHF for April 08, 2014



The pair is in an uptrend at 0.87 levels. The pair made a high at 0.8952 on Friday. Currently, the pair is trading at 0.8876 in an Aisa's trading session. The pair is facing a strong resistance at 0.88788 (50SMA); above this, 0.8928 is a strong resistance level. Below 50SMA, 0.8866 and 0.8853 are the small support levels. Until the pair trades below the 50SMA, it looks weak. RSI is giving a buying signal. The pair is looking for a strong base to change its direction upwards. After a day close above the 0.8878 level, fresh up move will be intact for 0.8928 first and 0.8952. We will see new high (0.90) when the pair closes above the 0.8928 level. On the down side, the levels of 0.8815, 0.8787, and 0.8699 are the support levels.

In the H4 chart, the pair is making a lower low and higher highs formation. Currently, it is looking for support levels. RSI is not favoring longs. The support levels exist at 0.8871 and 0.8859. In case of a break below these levels, it will fall to 0.884, 0.8820, and 0.8785 levels. On the upside, if the pair holds the 0.8871 and 0.8859 levels intradaily, it will fly up to 0.8889 and 0.8930 levels.




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Technical analysis of EUR/USD for April 09, 2014




The pair is in a downtrend from 1.3967 levels. In the H4 chart, the pair came out from the 10-day trading pattern. The pair is doing what the cable is doing. The pair is facing resistance at 1.3810, above that, at 1.3820. The momentum indicators are favoring sell side. For 2 or 3 days perspective, sell on rallies is the best strategy. On the up side, if the pair crosses the 1.3820 levels, it will fly up to 1.3876 levels.

The positional trend will change once the pair closes above the 1.396 levels. On the down side, the pair has strong support at 1.3770, below this, 1.3755 is the strong support. Weakness will persist in this pair when the pair breaks and closes below the 1.3755 level. If it happens, the pair will drift all the way to 1.3673 and 1.3643 levels easily. If the pair closes below 1.3737 (yesterday's low), weakness starts in this pair.



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Technical analysis of USD/JPY for April 10, 2014



In Asia, Japan will release the Core Machinery Orders m/m, Bank Lending y/y, Prelim Machine Tool Orders y/y and the US will release some economic data such as Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction, Federal Budget Balance. So there is a big probability the USD/JPY will move with low to medium volatility during this day.


TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.46.
Resistance. 2: 102.26.
Resistance. 1: 102.06.
Support. 1: 101.81.
Support. 2: 101.61.
Support. 3: 101.41.


DESCRIPTION:
Please, pay attention to the levels of support 3 (101.41) and resistance 3 (102.46). 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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Technical analysis of USD/JPY for April 11, 2014




In Asia, Japan will release the Monetary Policy Meeting Minutes, CGPI y/y, M2 Money Stock y/y, 30-y Bond Auction; the US will release some economic data such as PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian and US sessions.


TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.10.
Resistance. 2: 101.90.
Resistance. 1: 101.70.
Support. 1: 101.45.
Support. 2: 101.25.
Support. 3: 101.05.


DESCRIPTION:
Please, pay attention to the levels of support 3 (101.05) and resistance 3 (102.10). 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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Technical analysis of USD/JPY for April 14, 2014



In Asia, Japan will not release any economic data and the US will release some economic data such as Core Retail Sales m/m, Retail Sales m/m, Business Inventories m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.


TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.02.
Resistance. 2: 101.82.
Resistance. 1: 101.62.
Support. 1: 101.38.
Support. 2: 101.19.
Support. 3: 100.98.


DESCRIPTION:
Please, pay attention to the levels of support 3 (100.98) and resistance 3 (102.02). 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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Technical analysis of USD for April 15, 2014




USD
The US Dollar Index fell during the course of last week, but remained above the 79 level. The 79 level is of course is supportive, and we believe it is a major inflection point. We feel that this market will go to the 84 level, given enough time in order to see the bulls continuing to take control of a market that they've had a strong presence in. On top of that, you can also make an argument for consolidation between this area and the 81.25 level, as we have seen it in the last six months proved to be relatively tight. With that, we most certainly have an upward bias at this point, but recognize that a breakdown below the 79 level would in fact be very significant. On that move, we would expect this market to drop all the way down to the 77.83 and 75 levels, but it would take some time. The level of 78.60 would of course offer support as well, but it is much more of a minor area than the 79 is, as we continue to see the market bounce from its handle. If we break above the 81.25 level, we can see a new high this year.


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Technical analysis of USD/JPY for April 17, 2014




In Asia, Japan is going to report on the Consumer Confidence, and the BOJ Gov Kuroda Speech. The US will release some economic data such as Unemployment Claims, Philly Fed Manufacturing Index, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during this day.


TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.58.
Resistance. 2: 102.38.
Resistance. 1: 102.18.
Support. 1: 101.94.
Support. 2: 101.73.
Support. 3: 101.53.




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Technical analysis of USD/JPY for April 21, 2014


In Asia, Japan will release the Trade Balance and the US will release some economic data such as CB Leading Index m/m. So there is a big probability the USD/JPY will move with low volatility during this day.


TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.16.
Resistance. 2: 102.96.
Resistance. 1: 102.76.
Support. 1: 102.51.
Support. 2: 102.31.
Support. 3: 102.11.


DESCRIPTION:
Please, pay attention to the levels of support 3 (102.11) and resistance 3 (103.16). 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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Technical analysis of USD/JPY for April 22, 2014



In Asia, Japan will not release any economic data, and the US will release some economic data such as HPI m/m, Existing Home Sales, Richmond Manufacturing Index. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with high volatility during the US session.


TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.17.
Resistance. 2: 102.97.
Resistance. 1: 102.77.
Support. 1: 102.52.
Support. 2: 102.32.
Support. 3: 102.12.


DESCRIPTION:
Please, pay attention to the levels of support 3 (102.12) and resistance 3 (103.17). 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 is a sign that these currencies have found trends today.



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Technical analysis of GBP/CHF for April 23, 2014








Technical outlook and chart setups:
1. The GBP/CHF pair seems to be in its last leg of rally that begun from sub 1.4450 levels. Implications are that the pair may reverse/retrace from current levels (1.4900/1.4880) or from 1.4960. As seen here, the 1.4600/50 levels remain of particular interest to initiate long positions again.
2. Support starts from 1.4630/40 (intermediary), followed by 1.4450/1.4350, 1.4200 and lower while resistance is at 1.4950/60, followed by 1.5120 respectively.
3. The structure indicates that GBP/CHF would remain a buy on dips till prices stay above 1.4450/1.4500 levels.


Trading recommendations:
Look to buy lower around 1.4600 on a pullback and bullish bounce.

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