Thread: InstaForex Wave Analysis

Technical analysis of EUR/USD for Nov 09, 2016





When the European market opens, some economic data will be released such as EU Economic Forecasts. The US will post several macroeconomic reports such as 10-y Bond Auction, Crude Oil Inventories, and Final Wholesale Inventories m/m. Besides, results of presidential election will be unveiled later today. So EUR/USD will be trading with medium to high volatility during this day.


TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1047.
Strong Resistance:1.1041.
Original Resistance: 1.1030.
Inner Sell Area: 1.1019.
Target Inner Area: 1.0993.
Inner Buy Area: 1.0968.
Original Support: 1.0957.
Strong Support: 1.0946.
Breakout SELL Level: 1.0940.


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Technical analysis of EUR/USD for Nov 10, 2016





When the European market opens, some Economic Data will be released, such as Italian Industrial Production m/m, French Prelim Non-Farm Payrolls q/q, French Industrial Production m/m. The US will release the economic data, too, such as Federal Budget Balance, 30-y Bond Auction, Natural Gas Storage, Unemployment Claims, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0978.
Strong Resistance:1.0972.
Original Resistance: 1.0961.
Inner Sell Area: 1.0950.
Target Inner Area: 1.0925.
Inner Buy Area: 1.0900.
Original Support: 1.0889.
Strong Support: 1.0878.
Breakout SELL Level: 1.0872.


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Technical analysis of EUR/USD for Nov 11, 2016





When the European market opens, some Economic Data will be released such as German WPI m/m and German Final CPI m/m. The US will release the economic data, too, such as Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0939.
Strong Resistance:1.0933.
Original Resistance: 1.0922.
Inner Sell Area: 1.0911.
Target Inner Area: 1.0886.
Inner Buy Area: 1.0861.
Original Support: 1.0850.
Strong Support: 1.0839.
Breakout SELL Level: 1.0833.


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Technical analysis of EUR/USD for Nov 14, 2016





When the European market opens, some Economic Data will be released such as Industrial Production m/m and the ECB President Draghi Speaks. Today, the US will not release any Economic Data, so, amid the reports, the EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0860.
Strong Resistance:1.0854.
Original Resistance: 1.0843.
Inner Sell Area: 1.0832.
Target Inner Area: 1.0807.
Inner Buy Area: 1.0782.
Original Support: 1.0771.
Strong Support: 1.0760.
Breakout SELL Level: 1.0754.


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Technical analysis of USD/JPY for November 15, 2016





USD/JPY movement is supported by a rising trend line. The pair has been supported by a bullish trend line since November 11. The 20-period moving average stays above the 50-period one, and the relative strength index stays above its neutrality area at 50.


On Monday, U.S. stocks ended mixed with the Dow Jones Industrial Average advancing for a sixth consecutive session to another record high of 18,868 (+21 points, 0.1%). UnitedHealth Group jumped 4.0% and McDonald's gained 3.2%. Banks continued to shine, and real estate shares also outperformed.


On the other hand, the S&P 500 was largely unchanged at 2,164, and the Nasdaq Composite eased 18 points (-0.4%) to 5,218.


As long as 107.30 holds on the downside, further bounce is expected to 108.75 and 109.85 as next targets.


Trading Recommendation: 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. Therefore, long positions are recommended with the first target at 108.75 and the second one at 109.85. In the alternative scenario, short positions are recommended with the first target at 106.15 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 104.95. The pivot point lies at 107.30.


Resistance levels: 108.75, 109.85, 110.15
Support levels: 106.15, 104.95, 104.25


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Elliott wave analysis of EUR/NZD for November 16, 2016





Wave summary:
We continue to look for more upside towards the ending diagonal resistance line near 1.5450 and above here will call for a return to the origin of the ending diagonal at 1.5834 and above.


Short term, we expect support at 1.5010 to act as a floor for a rally above minor resistance 1.5195 and more importantly above resistance at 1.5266 for the test of the ending diagonal resistance line.


Trading recommendation:


We are long EUR from 1.4950 with stop placed at 1.4805. Upon a break above 1.5195 we will move our stop to 1.5000. If you are not long EUR yet, then buy near 1.5050 or upon a break above 1.5195 and use the same stops.


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Technical analysis of USD/JPY for Nov 17, 2016





In Asia, Japan today will not release any Economic Data's but the US will release some Economic Data, such as Natural Gas Storage, Housing Starts, Unemployment Claims, Philly Fed Manufacturing Index, Philly Fed Manufacturing Index, CPI m/m, and Building Permits. So, there is a probability the USD/JPY will move with low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Resistance. 3: 109.47.
Resistance. 2: 109.25.
Resistance. 1: 109.04.
Support. 1: 108.78.
Support. 2: 108.56.
Support. 3: 108.35.


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Technical analysis of USD/JPY for Nov 18, 2016





In Asia, Japan today will not release any economic data. However, the US will release th CB Leading Index m/m. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.


TODAY'S TECHNICAL LEVELS:
Resistance 3: 111.13.
Resistance 2: 110.91.
Resistance 1: 110.69.
Support 1: 110.43.
Support 2: 110.21.
Support 3: 109.99.


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Technical analysis of EUR/USD for Nov 21 2016





When the European market opens, there is no Economic Data will be released for today. The US will not release Economic Data, too, so, amid this condition, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0650.
Strong Resistance:1.0643.
Original Resistance: 1.0633.
Inner Sell Area: 1.0623.
Target Inner Area: 1.0598.
Inner Buy Area: 1.0573.
Original Support: 1.0563.
Strong Support: 1.0553.
Breakout SELL Level: 1.0546.


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Technical analysis of NZD/USD for November 22, 2016





NZD/USD is expected to extend its upside movement. The pair shows further upside potential after the upward breakout of its declining trend line, which emerged on Nov 17. The rising 20-period and 50-period moving averages are playing support roles and maintain the upside bias. The relative strength index stands firmly above its neutrality level at 50. As long as 0.7025 is support, look for a further upside toward 0.7010 and 0.7140 in extension.


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. Therefore, long positions are recommended with the first target at 0.7110 and the second one at 0.7140. In the alternative scenario, short positions are recommended with the first target at 0.6990 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6955. The pivot point lies at 0.7025.


Resistance levels: 0.7110, 0.7140, 0.7180
Support levels: 0.6990, 0.6955, 0.6875


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