Thread: InstaForex Wave Analysis

Daily analysis of major pairs for December 3, 2014




EUR/USD: EUR/USD traded downwards on Tuesday, breaking below the resistance line at 1.2400. The resistance line is now an immediate barrier to any rallies that may be initiated by the bulls. Meanwhile, price may trend further downwards towards the support line at 1.2350.



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Daily analysis of USDX for December 04, 2014






On the daily chart, the USDX is making a breakout at the level of 88.63, so massive buy orders in this instrument could lead the US dollar to reach a historic high levels at 90.40. However, like any sharp movement, the USDX could form another bullish pattern above the support level of 88.63. The MACD indicator is entering the neutral territory. Daily chart's resistance levels: 90.40 / 89.00
Dailychart's support levels: 88.63 / 87.35

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Technical analysis of USD/CAD for December 5, 2014






Overview:
The trading recommendations today will give its impact in the short term. Also, we should remember that history will probably repeat itself at this level again. Thus, according to the previous events, the USD/CAD pair is going to move between 1.1313 and 1.1454. In particular, the double bottom has set at the price of 1.1314 and the support is represented at the same level on H4 chart. Consequently, the trend may fail to close below the strong support at 1.1313. So, buy below the level of 1.1313 with the first target at 1.1418, then it will be continued towards 1.1554 in order to test this strong support. The stop-loss is to be placed below the level of 1.1313. On the other hand, the strong resistance will be formed at the level of 1.1465 (100% Fibonacci retracement levels) providing a clear signal for sell deals with the targets seen at 1.1420 and 1.1393.


Intraday technical levels:
Date:5/12/2014 Pair:USD/CAD
R3: 1.1463
R2: 1.1430
R1: 1.1406
PP: 1.1373
S1: 1.1349
S2: 1.1316
S3: 1.1292


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Daily analysis of major pairs for December 9, 2014






EUR/USD: After testing the support line at 1.2250, EUR/USD price bounced upwards, and the upwards bounce can continue a bit further upwards. For the upwards bounce to be strong enough to threaten the existing bearish bias, it must go above the resistance line at 1.2500; otherwise this may be another opportunity to sell short.

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Technical analysis of EUR/USD for December 10, 2014




When the European market opens, some economic news will be released such as French Final Non-Farm Payrolls q/q and French Industrial Production m/m. The US will release the economic data too such as the Crude Oil Inventories, 10-y Bond Auction, Federal Budget Balance. So, amid the reports, EUR/USD will move low to medium volatility during this day.


TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2446.
Strong Resistance:1.2439.
Original Resistance: 1.2427.
Inner Sell Area: 1.2415.
Target Inner Area: 1.2386.
Inner Buy Area: 1.2358.
Original Support: 1.2345.
Strong Support: 1.2334.
Breakout SELL Level: 1.2327.


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Daily analysis of GBP/USD for December 11, 2014






The GBP/USD pair is conducting a breakout at the level of 1.5698, because this pair intends to go up to where the 200-day moving average is located on the H4 chart. This move is probably since the GBP/USD pair managed to consolidate above the bearish trend line that was putting pressure on the level of 1.5650. However, for the rest of the week, movements in a low range are expected.
H4chart's resistance levels: 1.5811 / 1.5874
H4chart's support levels: 1.5698 / 1.5589



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Technical analysis of EUR/USD for December 12, 2014






When the European market opens, some economic news will be released such as German WPI m/m, Industrial Production m/m, and Employment Change q/q. Besides, the US will release the economic data too such as the PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, and Prelim UoM Inflation Expectations. So, amid the reports, EUR/USD will move low to medium volatility during this day.


TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2455.
Strong Resistance:1.2448.
Original Resistance: 1.2436.
Inner Sell Area: 1.2424.
Target Inner Area: 1.2395.
Inner Buy Area: 1.2366.
Original Support: 1.2354.
Strong Support: 1.2342.
Breakout SELL Level: 1.2335.


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Elliott wave analysis of EUR/JPY for December 15 - 2014






Technical summary:
Wave c of the correction from 149.13 is developing. Till now, we have seen wave a and b and wave c is currently unfolding. Red wave i ended at 147.69 and red wave ii is unfolding towards the 148.50 - 148.89 area from where the more powerful red wave iii lower to 145.88 is expected. The first target for this correction is found at 144.78. That said, wave c could easily extend lower to 142.05, but for now let's see what will happen as we approach 144.78.


Trading recommendation:
We are short in EUR from 147.97 and will move our stop to break-even and re-sell EUR at 148.50 with stop placed at 149.20 if/when our stop is hit.



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Daily analysis of major pairs for December 16, 2014






EUR/USD: This currency trading instrument is still bullish as bulls keep on flexing their muscles. The price is above the support line at 1.2400, going towards the resistance line at 1.2450 (which might be breached to the upside again). That resistance line has taken several beatings already. The ultimate target is at the resistance line at 1.2500.


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Technical analysis of Gold for December 17, 2014




Technical outlook and chart setups:
Gold is trading at sub $1,200.00 levels after making highs at $1,222.00/23.00 yesterday. The yellow metal remained just shy of the $1,270.00/80.00 mark, which is defined as the best buy for now. Immediate support is seen at $1,170.00, followed by $1,142.00, $1,130.00 and lower while resistance is seen at $1,255.00 and higher respectively. It is recommended to initiate long positions around $1,170.00/80.00 levels, risk remains below $1,140.00. Bulls are expected to remain in control till prices stay above $1,140.00. A break there could be extremely bearish and push prices lower into the $1,030.00/50.00 region.


Trading recommendations:
Remain flat for now, look to buy around $1,170.00/80.00 levels.


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