Thread: InstaForex Wave Analysis

Daily analysis of USDX for June 15, 2015[/B]

USDX is currently finding strong support around the 94.66 level. Now, the index could rally towards the resistance zone of 95.74. This week will be very decisive for the current trend of USDX on this time frame because it could resume the bullish bias in the coming days with a huge rebound. MACD indicator is on the negative territory.

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Technical analysis of Gold for June 16, 2015






Technical outlook and chart setups:
Gold is trading around the levels of $1,183.00/84.00 at the moment after hitting interim highs of $1,190 yesterday. The metal could drop further low into $1,180.00 today before rallying towards $1,204.00 and $1,211.00 subsequently as depicted here. Please note that the metal has bounced off the fibonacci 0.618 support at $1,171.00/72.00 yesterday. It is therefore recommended to remain long now and also look to add further positions aroundthe level of $1,180.00 with risk at $1,150.00. Immediate support is seen at the level of $1,171.00 followed by $1,161.00, $1,143.00, and lower. Resistance is seen at $1,205.00 followed by $1,215.00 and higher respectively.


Trading recommendations: Remain long for now, stop is at $1,150.00, a target is open.


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Daily analysis of GBP/USD for June 17, 2015







On the daily chart, the price action is calling for more upside above the 200 SMA and the nearest target is located around the level of 1.5755, which is a strong resistance zone. However, don't forget the GBP/USD pair could start to do corrective moves in the short term, because we have been watching a very strong bullish trend development over the last days. There is an interesting bullish structure formed on the H1 chart, because the pair has been trading higher above the support level at 1.5610. We expect a breakout of the resistance level at 1.5671 in order to reach the next high around 1.5721. The MACD indicator is entering in the negative territory and the 200 SMA is still bullish.



Daily chart's resistance levels: 1.5755 / 1.5898 Daily chart's support levels: 1.5543 / 1.5346
H1 chart's resistance levels: 1.5671 / 1.5721
H1 chart's support levels: 1.5610 / 1.5548


Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5671, take profit is at 1.5721, and stop loss is at 1.5621.


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Technical analysis of USD/JPY for June 18, 2015

In Asia, Japan is not expected to release economic data today. However, the US will publish data data on the Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, Current Account, Unemployment Claims, Core CPI m/m, amd CPI m/m. So, there is a big probability that USD/JPY will move with low to medium volatility during the day.


TODAY TECHNICAL LEVELS: Resistance. 3: 123.93. Resistance. 2: 123.67. Resistance. 1: 123.44. Support. 1: 123.15. Support. 2: 122.91. Support. 3: 122.66.


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Technical analysis of EUR/USD for June 24, 2015





When the European market opens, economic data on Belgian NBB Business Climate is due.The US will release data on Crude Oil Inventories, Final GDP Price Index q/q, anf Final GDP q/q. So amid the reports, EUR/USD will move with low to medium volatility during this day.


TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1227.
Strong Resistance:1.1221.
Original Resistance: 1.1210.
Inner Sell Area: 1.1199.
Target Inner Area: 1.1173.
Inner Buy Area: 1.1148.
Original Support: 1.1136.
Strong Support: 1.1126.
Breakout SELL Level: 1.1120.


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Daily analysis of GBP/USD for June 25, 2015





GBP/USD was moving in a bearish trend during yesterday's session as we can see on daily chart. Now it's looking for an opportunity to fall to the 200 SMA. Anyway, if that happens, GBP/USD will remain bullish in our mid-term outlook as long as it stays above that moving average. However, if the pair does a breakout at the resistance level of 1.5775, it will reach the level of 1.5898.


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Technical analysis of USD/JPY for June 25, 2015





USD/JPY is expected to trade in a lower range. It is undermined by the flows to the safe-haven yen amid increased risk aversion (VIX fear gauge rose 9.5% to 13.26, S&P 500 closed 0.74% lower at 2,108.58 overnight) on renewed worries over Greece's debt crisis. After a list of economic measures, Greece said it was willing to undertake in exchange for financial aid, was rejected. USD/JPY is also weighed by lower US Treasury yields (10-year slipped 3.7 bps to 2.372% Wednesday) and Japan's exports. But USD sentiment is soothed as the US Q1 GDP was revised to -0.2% from previous estimate of -0.7%. USD/JPY losses are also tempered by the demand from the Japanese importers and the Bank of Japan's ultra-loose monetary policy.


Technical comment: The daily chart is mixed as stochastics is rising from oversold levels but the MACD is bearish, bearish shooting-star candlestick pattern was completed on Wednesday.


Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 124.60 and the second target at 125. In the alternative scenario, short positions are recommended with the first target at 123.30 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 122.95. The pivot point is at 124.15.


Resistance levels: 124.60 125 125.45
Support levels: 122.30 122.95 122.55


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Technical analysis of USD/JPY for June 25, 2015





USD/JPY is expected to trade in a lower range. It is undermined by the flows to the safe-haven yen amid increased risk aversion (VIX fear gauge rose 9.5% to 13.26, S&P 500 closed 0.74% lower at 2,108.58 overnight) on renewed worries over Greece's debt crisis. After a list of economic measures, Greece said it was willing to undertake in exchange for financial aid, was rejected. USD/JPY is also weighed by lower US Treasury yields (10-year slipped 3.7 bps to 2.372% Wednesday) and Japan's exports. But USD sentiment is soothed as the US Q1 GDP was revised to -0.2% from previous estimate of -0.7%. USD/JPY losses are also tempered by the demand from the Japanese importers and the Bank of Japan's ultra-loose monetary policy.


Technical comment: The daily chart is mixed as stochastics is rising from oversold levels but the MACD is bearish, bearish shooting-star candlestick pattern was completed on Wednesday.


Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 124.60 and the second target at 125. In the alternative scenario, short positions are recommended with the first target at 123.30 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 122.95. The pivot point is at 124.15.


Resistance levels: 124.60 125 125.45
Support levels: 122.30 122.95 122.55


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Technical analysis of EUR/USD for June 29, 2015





When the European market opens, economic data on the Spanish Flash CPI y/y and German Prelim CPI m/m is due. The US will release economic data on the Pending Home Sales m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.


TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1028.
Strong Resistance:1.1022.
Original Resistance: 1.1011.
Inner Sell Area: 1.1000.
Target Inner Area: 1.0975.
Inner Buy Area: 1.0950.
Original Support: 1.0939.
Strong Support: 1.0928.
Breakout SELL Level: 1.0922.


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Daily analysis of GBP/USD for June 30, 2015





GBP/USD closed the bearish gap. On the daily chart, we still can observe a test at the resistance level of 1.5755 and if the pair does a breakout over there, it would be expected to test the next key high around the level of 1.5898. Also, bulls are getting stronger, but bear in mind the current situation in Greece. At the H1 chart, GBP/USD has been trading sideways, but remains above the 200 SMA. The current situation in Greece makes us think about the possibility to take long positions at this stage. GBP/USD is expected to rally towards new highs, as 200 SMA provides dynamic support, but be cautious anyway.


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