Thread: InstaForex Wave Analysis

Short-term analysis of USD/CAD for September 29, 2014






The pair made the highest closing in the previous week. As we have been recommending to buy for the last couple of weeks for a target at 1.1145, 1.1195, 1.1224. We are still waiting for the rest of the targets. For the longer-term perspective, a strong breakout above 1.1230, we can see 1.1938. This view is valid with sl 1.0865. We initiated the buy at 1.1 in the August 22 article. As of now toady the pair went up approximately 200 pips, and we are still waiting for more upside. This week the pair opened on a very strong note (opened lower). We expect the uptrend to continue.



For an hourly and intraday view, the pair has support at 1.1151 and 1.1138, below this, 1.1110 and 1.1074. Use a dip to add the long positions.



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Technical analysis of AUD/USD for September 30, 2014






The AUD/USD pair had fallen from the level of 0.8920, and the decline was extended further to as low as 0.8720 yesterday; furthermore, the price has been below 23.6% of Fibonacci retracement levels in the daily chart. Additionally, it should be noted that the price has formed strong resistance at the 0.8920 level and minor resistance at 0.8780. Moreover, this strong level has still been trapped between 23.6% of Fibonacci retracement levels and 00% in the daily chart. As it is known, history usually repeats itself at a certain level. So it will be of the wisdom to use historic quotes to determine future prices; hence, it is probably that the market will show bearish signs again in order to indicate a bearish opportunity at the level of 0.8780 with targets towards the strongest support around the 0.8659 level. Equally important, the market will form a range between two important levels of 0.8720 and 0.8660, so the range will be 80 pips precisely on the last day of September. Also, it should be noted that the double bottom will set at the level of 0.8659.

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GBP/USD intraday technical levels and trading recommendations for October 1, 2014





Overview:


On July 15, extensive bearish impulse was initiated. Since then, the GBP/USD pair has been down-trending below the depicted downtrend line. Two bearish impulses were previously initiated around 1.7180 and 1.6630 corresponding to the downtrend line. The price level of 1.6140 constituted a prominent weekly support to meet the pair. Bullish rejection was witnessed in the previous visit. This led to bullish weekly closure ( above the weekly support level around 1.6250 ). Retracement towards the price zone of 1.6350-1.6400 took place as expected where a new bearish impulse is being established applied as expected in previous articles. This price zone corresponds to the upper limit of the depicted channels as well as Fibonacci level of the recent bearish impulse between 1.7180 and 1.6060.


Trading recommendations::


Based on the previous data, the market offered a valid SELL opportunity around 1.6460 during last week's consolidations. This short position remains valid as long as the bears keep defending price zone of 1.6250-1.6320 ( 23.6% Fibonacci level and previous broken bottom ).Hence, Stop Loss should be located slightly above these price zone. This secures some of the profits. Bearish targets are located around 1.6160 and 1.6080.


Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014
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Gold climbs for second straight day behind falling stocks





Gold crept up from its nine month low for the second consecutive day after stock markets around the world declined due to disappointing manufacturing statistics, pushing up demand for alternative investments.
Spot gold increased to a price per ounce as high as $1,216.77 after improving by 0.2% and was trading mid morning Singapore time at $1,216.62, based on generic pricing from Bloomberg. The precious metal hit its lowest value since January 2nd of $1,204.57 last September 30th which put it within 0.5% of erasing all its gains for the year.
Data from Europe, showed that factory activities grew at their slowest pace in more than a year during September while the sector in the US cooled down as well. In China, output levels from factories were unchanged from August to September. Stocks in Asia declined for the fifth straight day today after the US market fell, pushing down the MSCI All Country World Index to its lowest level in five months.
Analyst Lachlan Shaw from Commonwealth Bank of Australia says that, “Gold rose on safe-haven demand as economic concerns flared up.”
Futures of gold similarly traded up from yesterday’s price per ounce of $1,215.50 to $1,216.90 in New York’s Comex. Holdings under the largest bullion backed exchange traded product, the SPDR Gold Trust, decreased to the fewest since December 2008 at 768.66 metric tons.
Spot silver increased by 0.5% for a price per ounce of $17.2715 to continue yesterday’s 1.2% improvement. Platinum rose to $1,289.69 per ounce to show a climb of 0.5% today after falling to its lowest value since October 2009 yesterday at $1,263.38. Palladium improved by 0.8% for a price per ounce of $784.63.


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Technical analysis of EUR/JPY for October 3, 2014





General overview for 03/10/2014 08:40 CET
The bounce from the wave B low is currently in three waves but as long as the level of 137.40 is not violated this structure can still develop into full five wave impassive cycle. That would mean, the low for wave B has been established and now market has started another upward cycle in wave C. To accomplish that, the first intraday resistance at the level of 137.93 must be broken and market must impulsively move higher into the grey rectangle zone, marked on chart as demand breakthrough zone.
Support/Resistance:
136.86 - Swing Low
136.96 - 78%Fibo
137.12 - WS2
137.63 - Intraday Support
137.73 - WS1
137.93 - Intraday Resistance
138.78 - Intraday Resistance
138.96 - Weekly Pivot
138.96 - 139.14 - Demand Breakthrough Zone


Trading recommendations:
Day traders should consider opening buy orders from current price levels with SL below the level of 137.39 and TP at the level of 138.78.




Performed by Sebastian Seliga,
Analytical expert InstaForex Group © 2007-2014
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Technical analysis of GBP/CHF for October 08, 2014





Technical outlook and chart setups:
The GBP/CHF pair is stalling at 1.5400 levels for now; after pulling back from 1.5470 resistance levels earlier. A push below 1.5375 would be still required to accelerate further downfall towards 1.5200. Immediate support is seen at 1.5300, followed by 1.5200, while resistance is fixed at 1.5550 respectively. It is recommended to remain short for now, risk remains above 1.5550. The pair is poised to correct at least towards 1.5200 before resuming rally again. Please note that fibonacci 0.618 support and past resistance turned support region is also around the same level 1.5200/1.5180.


Trading recommendations:
Remain short for now, stop at 1.5560, target 1.5200.


Read more: https://www.instaforex.com/forex_analysis/51687/




Performed by Harsh Japee,
Analytical expert InstaForex Group © 2007-2014
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Technical analysis of USD/JPY for October 09, 2014



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


TECHNICAL LEVELS:
Resistance. 3: 108.68.
Resistance. 2: 108.45.
Resistance. 1: 108.24.
Support. 1: 107.99.
Support. 2: 107.78.
Support. 3: 107.56.

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Daily analysis of USDX for October 10, 2014



The USDX conducted a small rebound at the support level of 85.18, where this instrument is trying to form a lower low pattern to fall to the support level of 84.29. However, the USDX could head back on the bullish road because it could rise to the resistance level of 86.20.


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Technical analysis of GBP/JPY for October 13, 2014






In the previous session, the pair finally broke the 50 and 100Dsma and closed below those levels. In the weekly chart, the pair broke the 20Wsma and closed below this as well. On the down side the pair has support at 172.00 200Dsma, 171.60, the 80% fib level, 171.00 and 170.60 200Dema levels. In the near and short term, the support zone is between 171.00 and 170.60 levels. In case if this week it closes below 171.00, we can expect strong sell-offs again towards 169.50. In case if the pair closes below the base of the ascending triangle, we can expect another free fall in the short and medium term. The pair has resistance at 173.45 20Wsma and 173.75. Until the price closes below 173.75, use every rise to sell.


Support: 172.00, 171.00, 170.60.
Resistance: 173.35, 173.75, 174.24.



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Technical analysis of USD/JPY for October 17, 2014






In Asia, Japan will not release any economic reports, but the US will release some economic data such as Building Permits, Housing Starts, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations, and the Fed Chair Yellen Speechaks. 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 TECHNICAL LEVELS:
Resistance. 3: 106.87.
Resistance. 2: 106.66.
Resistance. 1: 106.45.
Support. 1: 106.19.
Support. 2: 105.98.
Support. 3: 105.77.

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