Thread: InstaForex Wave Analysis

Daily analysis of GBP/USD for November 23, 2016


The pair trimmed its Monday's gains and now we can see a consolidation below the 200 SMA once again,while the resistance zone of 1.2516 is still being respected during the week. A breakout below the support area of 1.2396 should push lower to the GBP/USD pair in order to reach the next demand zone around 1.2361. MACD indicator is supporting that bearish scenario.





H1 chart's resistance levels: 1.2451 / 1.2516
H1 chart's support levels: 1.2396 / 1.2361


Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2451, take profit is at 1.2516 and stop loss is at 1.2386.


More analysis - at instaforex.com

Daily analysis of GBP/USD for November 24, 2016


GBP/USD is still hovering around the 200 SMA zone at H1 chart, as the pair is still deciding its path for coming days. It should be noted that we cannot expect a big catalyst to unleash volatility ahead of the weekend, as today we'll have thin liquidity, because of Thanksgiving holiday in the United States. If GBP/USD manages to break the 1.2451 level, then it can rally toward the 1.2516 zone.





H1 chart's resistance levels: 1.2451 / 1.2516
H1 chart's support levels: 1.2396 / 1.2361


Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2451, take profit is at 1.2516 and stop loss is at 1.2386.


More analysis - at instaforex.com

Technical analysis of EUR/USD for Nov 25, 2016





When the European market opens, some Economic Data will be released, such as Italian Retail Sales m/m. The US will release the Economic Data, too, such as Flash Services PMI, Prelim Wholesale Inventories m/m, and Goods Trade Balance. So, amid the reports, EUR/USD will move in a low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0604.
Strong Resistance:1.0597.
Original Resistance: 1.0587.
Inner Sell Area: 1.0577.
Target Inner Area: 1.0552.
Inner Buy Area: 1.0527.
Original Support: 1.0517.
Strong Support: 1.0507.
Breakout SELL Level: 1.0500.


More analysis - at instaforex.com

Technical analysis of GBP/JPY for November 28, 2016





GBP/JPY is expected to trade with bearish bias above 141.25. The pair is trading below its 20-period and 50-period moving averages, while the 20-period moving average crossed above the 50-period one. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum. Additionally, 141.25 represents a significant key resistance level, which should limit the upside potential. As long as 141.25 holds on the upside, look for a further downside toward 138.70 and even 137.25 in extension.


The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 138.70. A break below this target will move the pair further downwards to 137.25. The pivot point stands at 141.25. In case the price moves in the opposite direction and bounces back from the support level, it will go above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 138.70 and the second one at 137.25.


Resistance levels: 142.40, 143.25, 144.10
Support levels: 138.70, 137.25, 136.2




More analysis - at instaforex.com

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Technical analysis of USD/JPY for November 29, 2016





USD/JPY is expected to trade with bullish bias above 111.30. The pair pulled back to test its nearest support at 111.30, which is expected to allow for a temporary stabilization. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.


U.S. government bonds firmed up, sending the benchmark 10-year U.S. Treasury yield down to 2.319% from 2.359% Friday.


Taking advantage of a weaker U.S. dollar, gold gained 0.8% to $1,192 an ounce and silver was up 0.8% to $16.63 an ounce.


The U.S. dollar got deeper into its consolidation phase. The ICE U.S. Dollar Index sank to a session-low of 100.64, the lowest intraday level since November 17, before settling at 101.18, down 0.3% on day.


As long as 111.30 holds as a key support, the pair is more likely to advance toward 112.75 at first.


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 112.75 and the second one at 113.25. In the alternative scenario, short positions are recommended with the first target at 110.75 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 110.25. The pivot point lies at 111.30.


Resistance levels: 112.75, 113.25, 113.90
Support levels: 110.75, 110.25, 110


More analysis - at instaforex.com

Daily analysis of USDX for November 30, 2016


The index stayed bearish during Tuesday's session and it managed to consolidate slightly below the 200 SMA on H1 chart. That's the confirmation that strong resistance can be found around 101.74, while we expect further declines toward the 100.53 level, where a breakout lower should deliver more bearish momentum in order to decline until the 99.39 level. MACD indicator is supporting that scenario.





H1 chart's resistance levels: 101.74 / 102.61
H1 chart's support levels: 100.53 / 99.39


Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 101.74, take profit is at 102.61 and stop loss is at 100.87.


More analysis - at instaforex.com

Technical analysis of USD/JPY for Dec 01, 2016





In Asia, Japan will release the 10-y Bond Auction, Final Manufacturing PMI, Capital Spending q/y and the US will release some Economic Data, such as Total Vehicle Sales, Natural Gas Storage, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Unemployment Claims, and Challenger Job Cuts y/y. So, there is a probability the USD/JPY will move with low to medium volatility during this day.


TODAY'S TECHNICAL LEVEL:
Resistance. 3: 114.99.
Resistance. 2: 114.76.
Resistance. 1: 114.54.
Support. 1: 114.27.
Support. 2: 114.04.
Support. 3: 113.82.


More analysis - at instaforex.com

Technical analysis of USD/JPY for Dec 02, 2016





In Asia, Japan will release the Monetary Base y/y, and the US will release some Economic Data, such as Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a probability the USD/JPY will move with medium to high volatility during this day.


TODAY'S TECHNICAL LEVEL:
Resistance. 3: 114.38.
Resistance. 2: 114.15.
Resistance. 1: 113.93.
Support. 1: 113.67.
Support. 2: 113.44.
Support. 3: 113.22.


More analysis - at instaforex.com

Daily analysis of GBP/USD for December 05, 2016





The bulls are still in charge of GBP/USD situation, as the pair managed to consolidate gains above the 1.2700 level before the latest weekend. Currently, it faces a strong resistance around 1.2732, where a breakout higher should expose the next barrier at the 1.2840 level. A correction can happen during the week, but as long as GBP/USD remains above the 200 SMA, we can expect further gains.


H1 chart's resistance levels: 1.2732 / 1.2840
H1 chart's support levels: 1.2625 / 1.2568


Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2732, take profit is at 1.2840 and stop loss is at 1.2625.


More analysis - at instaforex.com