Thread: InstaForex Wave Analysis

AUD/NZD Trading Recommendations for 9th August 2016





Price reached our profit target perfectly yesterday. Today we turn bearish below 1.0740 major resistance (horizontal resistance + Fibonacci projection) for a new drop to 1.0630. Stochastics (21,5,3) has turned down strongly from 94% resistance signaling a bearish move is in progress.


Trading Recommendations:
Sell below 1.0740.
Stop Loss at 1.0825.
Take profit at 1.0630.


More analysis - at instaforex.com

Technical analysis of Gold for August 10, 2016


Gold price has pulled back towards the 61.8% Fibonacci retracement and is showing signs of a bullish reversal. In my last analysis I noted the importance of the support in this area and that would be the last chance for bulls. Otherwise the scenario of a deep pull back towards $1,200 gets the lead.





After the rejection at $1,370-75 area price pulled back towards the 61.8% Fibonacci retracement support. With oscillators diverging and turning upwards, there is a good chance a new leg up has started in Gold with targets above $1,400. Support is at $1,330 and most crucial at $1,300. Resistance is at $1,350 and next at $1,375.





Blue lines - bullish channel
Gold price remains inside the medium-term bullish channel. Price is holding above the weekly tenkan-sen (red line indicator) implying the trend has not changed yet. This holds the bullish scenario for a new high towards $1,425-$1,450 alive. A break below $1,300 will confirm the bearish scenario for a deeper pull back towards $1,180.


More analysis - at instaforex.com

Daily analysis of USDX for August 11, 2016


The index extended losses and it's looking to break the support zone of 95.51. A breakout below that level should expose the bears to the 95.19 level, where a key bottom is located. However, as we saw a dynamic resistance around the 200 SMA price level, that should be taken as a confirmation of a possible bearish continuation.





H1 chart's resistance levels: 95.93 / 96.32
H1 chart's support levels: 95.51 / 95.19


Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 95.51, take profit is at 95.19 and stop loss is at 95.83.


More analysis - at instaforex.com

Daily analysis of USDX for August 12, 2016


USDX is still hovering around the 200 SMA and now it's looking to re-test the support level of 95.51. If the Index achieves in break it, then we can expect a bearish continuation towards the 95.19 level on a short-term basis. By the way, the index could attempt a breakout above the 95.93 level, in a move that could open the doors to test the 96.32 level.





H1 chart's resistance levels: 95.93 / 96.32
H1 chart's support levels: 95.51 / 95.19


Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 95.51, take profit is at 95.19 and stop loss is at 95.83.


More analysis - at instaforex.com

Technical analysis of EUR/USD for Aug 15, 2016





When the European market opens, there is no economic data will be released but the US will release the economic data too such as TIC Long-Term Purchases, NAHB Housing Market Index, Empire State Manufacturing Index, so amid the reports, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1215.
Strong Resistance:1.1209.
Original Resistance: 1.1198.
Inner Sell Area: 1.1187.
Target Inner Area: 1.1161.
Inner Buy Area: 1.1135.
Original Support: 1.1124.
Strong Support: 1.1113.
Breakout SELL Level: 1.1107.


Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.


More analysis - at instaforex.com

Daily analysis of GBP/USD for August 16, 2016


The pair is posting more declines below the 1.3000 psychological level, and we can see further weakness toward the support level of 1.2798. The 200 SMA on the H1 chart is pointing to the downside and it can put pressure on GBP/USD. However, if we see a rebound, then the next hurdle will be the 1.2950 level. MACD indicator is entering neutral territory, and that should lead to a sideways range.





H1 chart's resistance levels: 1.3000 / 1.3085
H1 chart's support levels: 1.2894 / 1.2798


Trading recommendations for today: based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2894, take profit is at 1.2798 and stop loss is at 1.2987.


More analysis - at instaforex.com

Technical analysis of USD/JPY for Aug 18, 2016





In Asia, Japan will release the Trade Balance and the US will release some economic data such as Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, Philly Fed Manufacturing Index.So there is a probability the USD/JPY will move with low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Resistance. 3: 100.31.
Resistance. 2: 100.12.
Resistance. 1: 99.92.
Support. 1: 99.68.
Support. 2: 99.46.
Support. 3: 99.29.


More analysis - at instaforex.com

Technical analysis of GBP/USD for August 19, 2016


I warned the GBP/USD bears that a bounce towards 1.32 was imminent after a breakout of the bullish wedge formation that started on August 3rd. The price has broken out and above the wedge and has reached the 61.8% Fibonacci retracement of the decline.





The blue lines - bullish wedge The price has reached the 61.8% Fibonacci retracement of the decline which is an important juncture point. A bearish reversal may start from this area. Next resistance is the 78.6% Fibonacci retracement. Support is at 1.3070.





A break above 1.3260-1.3350 could push the price towards 1.35-1.36 and the weekly cloud resistance area. This is a sell area, and bears are not going to give up easily. I believe the US dollar will strengthen against the pound again, and we will see another round of selling that will eventually push the pair towards 1.25.


More analysis - at instaforex.com

Elliott wave analysis of EUR/NZD for August 22 - 2016





Wave summary:
The expected new impulsive rally looks increasing likely as long as we stay above support at 1.5448. As long as this support is able to protect the downside, we will be looking for more upside pressure towards 1.5839 and above here will call for a rally towards 1.6931 and above.
An unexpected break below 1.5448 will delay the expected upside pressure for a move closer to 1.5180, but likely not below.


Trading recommendation:
We are long EUR from 1.5410 with stop placed at 1.5440, securing a small profit no matter what happens. If you are not long EUR yet, then buy a break above resistance at 1.5649 and use the same stop at 1.5440.


More analysis - at instaforex.com

Daily analysis of USDX for August 23, 2016





USDX hasn't reached the 200 SMA on the H1 chart, and currently it is declining towards the support zone of 94.32 which can be tested soon. Below that zone, further weakness will push the index towards the 94.07 level. However, if USDX does a rebound at the current stage, then it can test the 95.00 psychological level.


H1 chart's resistance levels: 94.65 / 95.00
H1 chart's support levels: 94.32 / 94.07


Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 94.32, take profit is at 94.07 and stop loss is at 94.57.


More analysis - at instaforex.com