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Elliott wave analysis of EUR/JPY for September 1, 2015
https://forex-images.instaforex.com/...-EURJPY-4H.png
Technical summary:
There are still no changes in the view - We expect an upside breakout through the minor resistance at 136.62 confirming a continuation higher towards 139.02 and 141.06. A break below support at 135.23 could take place, but we think the downside potential should be limited. Only a break below the important support level of 133.27 will indicate a much more complex correction unfolding from a high of 141.06.
Trading recommendation:
We are long EUR from 136.42 with stop placed at 134.90. If you are not long EUR yet, buy a break above 136.62 with a stop at 135.60
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Technical analysis of EUR/USD for September 02, 2015
https://forex-images.instaforex.com/...2/!_EURUSD.jpg
When the European market opens, some economic news on the PPI m/m and Spanish Unemployment Change will be released .The US will unveile readings for Beige Book, Crude Oil Inventories, Factory Orders m/m, Revised Unit Labor Costs q/q, Revised Nonfarm Productivity q/q, and ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move with medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1350.
Strong Resistance:1.1344.
Original Resistance: 1.1333.
Inner Sell Area: 1.1322.
Target Inner Area: 1.1296.
Inner Buy Area: 1.1270.
Original Support: 1.1259.
Strong Support: 1.1248.
Breakout SELL Level: 1.1242.
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US dollar leaps on volatile stock markets
The US dollar bounced Thursday as global investors scaled back on riskier equities, aggravated by China's devitalizing economy and its volatile stock markets. China's degenerating economy and woes about global growth pressed investors to cut bets in the euro and the Japanese yen. The greenback finished at $1.1210 per euro. Versus the Japanese yen, the dollar closed at ¥120.655. We believe additional easing is possible before the year ends. Such message should uphold sentiment, “which so far has been a drag on risky assets,” said strategists at Barclays. With China's markets shut for a national holiday, investors will now focus on the European Central Bank policy meeting today.
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Technical analysis of EUR/USD for September 04, 2015
https://forex-images.instaforex.com/...4/!_EURUSD.jpg
When the European market opens, economic news on the Revised GDP q/q, Retail PMI, and German Factory Orders m/m is due to be released. The US will publish economic data on the Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So amid the reports, EUR/USD will move with medium to high volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1176.
Strong Resistance:1.1170.
Original Resistance: 1.1159.
Inner Sell Area: 1.1148.
Target Inner Area: 1.1112.
Inner Buy Area: 1.1096.
Original Support: 1.1085.
Strong Support: 1.1074.
Breakout SELL Level: 1.1068.
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Technical analysis of EUR/USD for September 07, 2015
https://forex-images.instaforex.com/...7/!_EURUSD.jpg
When the European market opens, economic news on the Sentix Investor Confidence and German Industrial Production m/m is due to be released. The US will not unveil any economic data today. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1206.
Strong Resistance:1.1200.
Original Resistance: 1.1189.
Inner Sell Area: 1.1178.
Target Inner Area: 1.11152.
Inner Buy Area: 1.1126.
Original Support: 1.1115.
Strong Support: 1.1104.
Breakout SELL Level: 1.10698.
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Daily analysis of GBP/USD for September 08, 2015
https://forex-images.instaforex.com/...BPUSDDaily.png
The pair is already trying to correct the decline that has been unfolding for several days. It could reach the 200 SMA on the H1 chart soon. That level is located at 1.5329, where a pullback could happen in order to gain fresh bearish momentum. There is an opportunity that GBP/USD will break the support level of 1.5272 and fall to 1.5220.
https://forex-images.instaforex.com/...5_GBPUSDH1.png
Daily chart's resistance levels: 1.5329 / 1.5479
Daily chart's support levels: 1.5181 / 1.5089
H1 chart's resistance levels: 1.5329 / 1.5402
H1 chart's support levels: 1.5272 / 1.5220
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 1.5272, take profit is at 1.5220, and stop loss is at 1.5328.
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Daily analysis of GBP/USD for September 09, 2015
https://forex-images.instaforex.com/...BPUSDDaily.png
GBP/USD is still moving inside a bullish corrective channel which is taking in place on the daily chart. It made a breakout at the level of 1.5329 to the upside. That is why we focus on the territory around 1.5479 in the mid- and short-term, which is the nearest resistance level in this time frame.
https://forex-images.instaforex.com/...9/GBPUSDH1.png
On the H1 chart, the pair is forming a higher high pattern above the support level of 1.5357, with a consolidation zone above the 200 SMA. The resistance level of 1.5402 is the closest one in the short term, where a breakout to the upside should happen in order to reach the next high at 1.5440.
Daily chart's resistance levels: 1.5479 / 1.5559
Daily chart's support levels: 1.5329 / 1.5181
H1 chart's resistance levels: 1.5402 / 1.5440
H1 chart's support levels: 1.5357 / 1.5319
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 1.5357, take profit is at 1.5319, and stop loss is at 1.5393.
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Technical analysis of EUR/USD for September 11, 2015
https://forex-images.instaforex.com/...5_EURUSDH1.png
Overview:
The daily pivot point is seen at the level of 1.1267; and now the price is moving around this key level. But, the weekly pivot point set at the 1.1230 price. Consequently, the market has still been calling for a rally because the pair has been trading above the key level since yesterday. Accordingly, if the trend fails to close below the level of 1.1230, it will be a good opportunity to buy above the levels of 1.1260/1.1230 with the first target at 1.1323 (this level is going to represent a double top and coincides with the ratio of 50% at the same time). Then, it will move in an uptrend towards 1.1379 in order to test the weekly resistance 2. At the same time, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. As a result, the best location to set your stop loss is seen below the level of 1.1230. It should be noted that the level of 1.1208 represents the double bottom.
Intraday technical levels:
R3: 1.1438
R2: 1.1379
R1: 1.1323
PP: 1.1267
S1: 1.1230
S2: 1.1196
S3: 1.1142
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Technical analysis of USD/JPY for September 14, 2015
https://forex-images.instaforex.com/.../USDJPYM30.png
USD/JPY is expected to trade in a lower range. US stocks continued advancing on Friday with the Dow Jones Industrial Average gaining 0.6% to 16433, the S&P 500 rising 0.5% to 1961, and the Nasdaq Composite climbing 0.5% to 4822. Nymex crude oil dropped 2.8% to settle at $44.63 a barrel, gold fell 0.3% to $1107 a troy ounce, while the 10-year Treasury yield edged down to 2.191% from 2.222% on Thursday. While all eyes are on the US Federal Reserve interest rate decision at its September 16-17 meeting, the US dollar weakened against most other major currencies on Friday. The pair is trading below the key resistance at 120.95. Intraday technical indicators are mixed: the 20-period intraday moving average (MA) stays below the 50-period one, while the intraday relative strength indicator (RSI) is above the neutrality level of 50. As long as 120.95 holds as the key resistance, the pair is expected to show choppy price actions with a bearish bias. The first downside target is set at 119.60 (around the low of September 11); and the second one, at 119.10 (around the low of September 10).
Trading recommendations:
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 119.60. A break of that target will move the pair further downwards to 119.10. The pivot point stands at 120.95. In case the price moves in the opposite direction and bounces back from the support level, it will move 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 121.30 and the second target at 121.70.
Resistance levels: 121.70 122 122.50
Support levels: 119.90 119.60 119.20
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Elliott wave analysis of EUR/NZD for September 15, 2015
https://forex-images.instaforex.com/...-EURNZD-4H.png
Technical summary:
We do not see any changes here as we are still looking for a firm breakout above resistance at 1.7996 in order to perform the next rally higher to 1.8289 and even high to 1.8702 in wave iii of (v). In the short term, we expect minor support at 1.7777 to protect the downside for a breakout above 1.7996.
Trading recommendation:
We are long EUR from 1.7490 with stop placed at 1.7620. If you are not long EUR yet, buy on a break above 1.7996 and place you stop at 1.7775.
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Technical analysis of EUR/USD for September 16, 2015
https://forex-images.instaforex.com/...6/!_EURUSD.jpg
When the European market opens, economic news on the German 30-y Bond Auction, Final Core CPI y/y, and Final CPI y/y is due to be published. The US will release data about the TIC Long-Term Purchases, Crude Oil Inventories, NAHB Housing Market Index, Core CPI m/m, and CPI m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1324.
Strong Resistance:1.1318.
Original Resistance: 1.1307.
Inner Sell Area: 1.1296.
Target Inner Area: 1.1270.
Inner Buy Area: 1.1244.
Original Support: 1.1233.
Strong Support: 1.1223.
Breakout SELL Level: 1.1216.
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Elliott wave analysis of EUR/NZD for September 17, 2015
https://forex-images.instaforex.com/...-EURNZD-4H.png
Technical summary:
A correction in wave ii has taken more time than first expected, but nothing else has changed. We are still looking for a break above resistance at 1.7866 to enable a rally towards at least 1.8288 and most likely even higher to 1.8682 in wave iii. Ideally, support at 1.7702 will be able to protect the downside for a breakout above 1.7866.
Trading recommendation:
We are long EUR from 1.7490 with stop at 1.7620. If you are not long EUR yet, then buy on a break above resistance at 1.7866 with stop placed at 1.7700.
More analysis - at instaforex.com
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Technical analysis of AUD/USD for September 18, 2015
https://forex-images.instaforex.com/...7/AUDUSDH4.png
Overview:
The AUD/USD pair rose from the strong level of 0.7140 and extended further to as high as 0.7172 yesterday, but it closed at the level of 0.7165 today. It should be noted that support is seen at 0.7140 because this level has also formed double bottom. Furthermore, the price set above 50% of Fibonacci retracement levels since last week. For that purpose, we expect a saturation around the level of 0.7140 or 0.7132. Hence, the market is likely to start showing the signs of a bullish bias again from this spot in order to indicate a bullish opportunity from the level of 0.7140 (50% of Fibonacci retracement levels in the H1 chart). Accordingly, buy above the level of 0.7140 with the first target at 0.7191 besides it will call for an uptrend in order to continue bullish movement towards 0.7250 in coming hours. On the other hand, if the bulls are forced to pull back below the level of 0.7125 and sellers can break this level, therefore the best solution is to set a stop loss at the 0.712.
https://forex-images.instaforex.com/...7/AUDUSDH1.png
More analysis - at instaforex.com
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Technical analysis of EUR/USD for September 22, 2015
https://forex-images.instaforex.com/...2/!_EURUSD.jpg
When the European market opens, economic news about the Consumer Confidence is due to be released. The US will publish economic data on the Richmond Manufacturing Index and HPI m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1240.
Strong Resistance:1.1234.
Original Resistance: 1.1223.
Inner Sell Area: 1.1212.
Target Inner Area: 1.1186.
Inner Buy Area: 1.1160.
Original Support: 1.1149.
Strong Support: 1.1138.
Breakout SELL Level: 1.1132.
More analysis - at instaforex.com
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Daily analysis of GBP/USD for September 23, 2015
On the daily chart, GBP/USD continues to move lower across the support zone of 1.5344, where we should expect a rebound towards resistance zone of 1.5479. Currently, the bearish bias looks strong enough to reach another low below the support level of 1.5344 and pointing to the level of 1.5256. The MACD indicator is entering the neutral territory.
https://forex-images.instaforex.com/...BPUSDDaily.png
The intraday structure is still calling for more downside, because the cable is forming a lower low pattern below the 200 SMA on the H1 chart and the resistance level of 1.5417. A breakout below 1.5341 will push the pair to the level of 1.5285. The 200 SMA is currently moving in a bearish direction.
https://forex-images.instaforex.com/...3/GBPUSDH1.png
Daily chart's resistance levels: 1.5479 / 1.5559
Daily chart's support levels: 1.5344 / 1.5256
H1 chart's resistance levels: 1.5417 / 1.5468
H1 chart's support levels: 1.5341 / 1.5285
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 1.5417, take profit is at 1.5468, and stop loss is at 1.5364.
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Daily analysis of GBP/USD for September 24, 2015
GBP/USD is headed lower making new downside moves below the resistance level of 1.5256. It is expected to form a lower low pattern by the end of the week. Currently, our outlook remains bearish towards the support zone of 1.5169, where a rebound should happen in order to correct the current decline.
https://forex-images.instaforex.com/...BPUSDDaily.png
On the H1 chart, the pair is showing a bearish consolidation in place below the 200 SMA and this indicator is also pointing to the downside. A breakout below the support level of 1.5223 will enable the pair to test the level of 1.5166 in coming hours. The MACD indicator is entering the neutral territory.
https://forex-images.instaforex.com/...2_GBPUSDH1.png
Daily chart's resistance levels: 1.5256 / 1.5344
Daily chart's support levels: 1.5169 / 1.5030
H1 chart's resistance levels: 1.5285 / 1.5341
H1 chart's support levels: 1.5223 / 1.5166
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.5223, take profit is at 1.5166, and stop loss is at 1.5283.
More analysis - at instaforex.com
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Technical analysis of EUR/USD for September 25, 2015
https://forex-images.instaforex.com/...5/!_EURUSD.jpg
When the European market opens, some economic news will be released such as Private Loans y/y and M3 Money Supply y/y. The US will also release the economic reports such as the Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Flash Services PMI, Final GDP Price Index q/q, and 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: 1.1234.
Strong Resistance:1.1228.
Original Resistance: 1.1217.0
Inner Sell Area: 1.1206.
Target Inner Area: 1.1180.
Inner Buy Area: 1.1154.
Original Support: 1.1143.
Strong Support: 1.1132.
Breakout SELL Level: 1.1126.
More analysis - at instaforex.com
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Elliott wave analysis of EUR/JPY for September 28, 2015
https://forex-images.instaforex.com/...-EURJPY-4H.png
Technical summary:
We are entering the final part of the decline from 141.06. Continue to look for a decline closer to 131.45 before a new impulsive rally takes place. In thr short term, we will be looking for a breakout below minor support at 134.75 as the first good indication that the move closer to 131.45 is developing, while a break below support at 134.10 will confirm the decline. Only an unexpected breakout above resistance at 136.03 will confirm that the bottom is already in place for renewed upside pressure.
Trading recommendation: Our stop at 134.95 was hit, but we will sell EUR again upon a break below 134.75 with stop placed at 135.50 and take profit at 131.65.
More analysis - at instaforex.com
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Technical analysis of EUR/USD for September 29, 2015
https://forex-images.instaforex.com/...9/!_EURUSD.jpg
When the European market opens, economic news about the Italian 10-y Bond Auction, Spanish Flash CPI y/y, German Prelim CPI m/m, and German Import Prices m/m is due to be released.The US will unveil economic data on the CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, and Goods Trade Balance. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1284.
Strong Resistance:1.1278.
Original Resistance: 1.1267.
Inner Sell Area: 1.1256.
Target Inner Area: 1.1230.
Inner Buy Area: 1.1204.
Original Support: 1.1193.
Strong Support: 1.1182.
Breakout SELL Level: 1.1176.
More analysis - at instaforex.com
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Technical analysis of USD/JPY for September 30, 2015
https://forex-images.instaforex.com/...0/!_USDJPY.jpg
In Asia, Japan will release the Housing Starts y/y, Prelim Industrial Production m/m, and Retail Sales y/y. The US will publish economic data on Crude Oil Inventories, Chicago PMI, and ADP Non-Farm Employment Change. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with medium to high volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 120.56.
Resistance. 2: 120.33.
Resistance. 1: 120.09.
Support. 1: 119.80.
Support. 2: 119.56.
Support. 3: 119.33.
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Elliott wave analysis of EUR/NZD for October 1 - 2015
https://forex-images.instaforex.com/...1-EURNZD-D.png
Technical summary:
We have seen a breakout below 1.7453, which was quite unexpected and that has shifted the picture from a potential bullish count to a bearish calling for more downside toward 1.6781 where this correction will have corrected 38.2% of a rally from 1.3881 to 1.8554. In the short term, we expect minor resistance at 1.74994 to protect the upside for a decline to 1.7070.
Trading recommendation:
Our stop at 1.7450 was hit for a small loss, We will sell EUR at 1.7480 with stop placed at 1.7580.
More analysis - at instaforex.com
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Technical analysis of EUR/USD for October 02, 2015
https://forex-images.instaforex.com/...2/!_EURUSD.jpg
When the European market opens, some economic news on the PPI m/m and Spanish Unemployment Change is due to be released. The US is expected to publish economic data on Factory Orders m/m, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So amid the reports, EUR/USD will move with medium to high volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1245.
Strong Resistance:1.1240.
Original Resistance: 1.1229.
Inner Sell Area: 1.1218.
Target Inner Area: 1.1192.
Inner Buy Area: 1.1166.
Original Support: 1.1155.
Strong Support: 1.1144.
Breakout SELL Level: 1.1138.
More analysis - at instaforex.com
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Elliott wave analysis of EUR/NZD for October 5, 2015
https://forex-images.instaforex.com/...-EURNZD-4H.png
Technical summary:
Prices spiked higher on Friday due to the weak Non Farm Payrolls data, but only to resume an underlying decline towards at least a 38.2% corrective target at 1.6781. In the short term, we are watching for a break below 1.7294 (the bottom of wave i of C) to confirm wave iii moving lower to at least 1.7028. At this point, only an unexpected rally above 1.7650 will question the underlying bearish count.
Trading recommendation:
Our stop at 1.7580 was hit due to a price spike on Friday, but we remain bearish and still see a nice downside potential. So, we will like to short EUR at 1.7530 with a stop at 1.7660.
More analysis - at instaforex.com
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Technical analysis of USD/JPY for October 06, 2015
https://forex-images.instaforex.com/...6/!_USDJPY.jpg
In Asia, Japan is not expected to release any economic data, but the US will deliver economic news on the IBD/TIPP Economic Optimism and Trade Balance. So, there is a strong probability that USD/JPY will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 121.12.
Resistance. 2: 120.88.
Resistance. 1: 120.64.
Support. 1: 120.35.
Support. 2: 120.11.
Support. 3: 119.87.
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Elliott wave analysis of EUR/JPY for October 6 - 2015
https://forex-images.instaforex.com/...-EURJPY-4H.png
Technical summary:
Yesterday , a breakout above 135.10 indicated that wave 2 ended at 132.23 and wave 3 higher was already developing. If this count is correct, support at 133.48 must protect the downside for a strong rally higher to at least 141.00 and possibly even higher. As wave (ii) of 3 was an expanded flat correction, we know that the likelihood of wave (iii) extending is very high. That means wave (iii) should be at least 161.8% times the length of wave (i). In the short term, we will ideally see support at 134.28, but we must accept the possibility of a deeper corrective decline from 135.71. A breakout below 133.48 will invalidate the bullish count.
Trading recommendation: We bought EUR at 135.10 and will place our stop at 133.45 expecting to raise it quickly. If you are not long EUR yet, buy EUR near 134.28 or upon a breakout above 135.71 using the same stop.
More analysis - at instaforex.com
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Daily analysis of GBP/USD for October 07, 2015
https://forex-images.instaforex.com/...BPUSDDaily.png
On the daily chart, GBP/USD has been extending a rebound towards the resistance level of 1.5256. The cable is forming a lower low pattern and the current moves should be a preparation for a further decline.
https://forex-images.instaforex.com/...7/GBPUSDH1.png
The short-term outlook indicates recovery from after a fall held below the suport zone of 1.5166, and now GBP/USD is forming a higher high pattern above the 200 SMA in the H1 chart, in order to perform a rally towards the resistance level of 1.5285. However, we are still expecting an inminent breakout below the zone of 1.5223.
Daily chart's resistance levels: 1.5256 / 1.5325
Daily chart's support levels: 1.5169 / 1.5030
H1 chart's resistance levels: 1.5285 / 1.5342
H1 chart's support levels: 1.5223 / 1.5166
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.5223, take profit is at 1.5166, and stop loss is at 1.5276.
More analysis - at instaforex.com
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Daily analysis of GBP/USD for October 08, 2015
https://forex-images.instaforex.com/...BPUSDDaily.png
GBP/USD had a strong bullish momentum above support zone of 1.5169 and we could say that level is currently acting as a major bottom on the cable. Currently, we expect a breakout above the resistance level of 1.5325 in order to reach the level of 1.5381. However, a pullback around current levels will send this pair to test the zone of 1.5256.
https://forex-images.instaforex.com/...5_GBPUSDH1.png
On the H1 chart, GBP/USD has been performing a consolidation above the support level of 1.5285 with a higher high pattern formation. Also, a breakout above 1.5342 will open the door to the psychological zone of 1.5400. The 200 SMA is slightly pointing to the upside, but the MACD indicator is entering the negative territory.
Daily chart's resistance levels: 1.5325 / 1.5381
Daily chart's support levels: 1.5256 / 1.5169
H1 chart's resistance levels: 1.5342 / 1.5400
H1 chart's support levels: 1.5282 / 1.5223
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 1.5342, take profit is at 1.5400, and stop loss is at 1.5285.
More analysis - at instaforex.com
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Technical analysis of EUR/USD for October 12, 2015
https://forex-images.instaforex.com/...2/!_EURUSD.jpg
Today, no economic data is expected to be delivered from the European-London and US markets. So amid the reports, EUR/USD will move with low volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1422.
Strong Resistance:1.1415.
Original Resistance: 1.1404.
Inner Sell Area: 1.1393.
Target Inner Area: 1.1366.
Inner Buy Area: 1.1339.
Original Support: 1.1328.
Strong Support: 1.1317. Breakout SELL Level: 1.1310.
More analysis - at instaforex.com
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Daily analysis of GBP/USD for October 13, 2015
On the daily chart, we should note the Monday session was a slow one because of the holidays in most of European countries and the US. GBP/USD has been trading below the resistance zone of 1.5381. Watch for a breakout higher during this week, in order to test the next interest level around 1.5439.
https://forex-images.instaforex.com/...BPUSDDaily.png
The pair continues to perform pullbacks after the opening bell and this should be an indicator of possible corrections, which could be extended towards the support level of 1.5285 where the 200 SMA is located. Over that zone, we can expect a rebound because of a bullish reaction.
https://forex-images.instaforex.com/...8_GBPUSDH1.png
Daily chart's resistance levels: 1.5381 / 1.5439
Daily chart's support levels: 1.5325 / 1.5256
H1 chart's resistance levels: 1.5342 / 1.5400
H1 chart's support levels: 1.5282 / 1.5223
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 seen at 1.5342, take profit is at 1.5400, and stop loss is at 1.5285.
More analysis - at instaforex.com
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Technical analysis of EUR/USD for October 13, 2015
https://forex-images.instaforex.com/...3/!_EURUSD.jpg
When the European market opens, economic news on the ZEW Economic Sentiment, German ZEW Economic Sentiment, German WPI m/m, and German Final CPI m/m is due to be released. The US will deliver economic data on the Federal Budget Balance and NFIB Small Business Index. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1408.
Strong Resistance:1.1401.
Original Resistance: 1.1390.
Inner Sell Area: 1.1379.
Target Inner Area: 1.1352.
Inner Buy Area: 1.1325.
Original Support: 1.1314.
Strong Support: 1.1303.
Breakout SELL Level: 1.1296.
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Elliott wave analysis of EUR/JPY for October 14, 2015
https://forex-images.instaforex.com/...-EURJPY-4H.png
Technical summary:
We continue to watch for a continuation higher towards 141.00 over coming days/weeks. In the short term, we would like to find support at 135.63 to protect the downside for a break above minor resistance at 136.60 and more importantly above resistance at 136.95 for a continuation higher towards 138.10 as the ideal target for red wave iii. After a minor sideways consolidation, more upside room towards 141.00 would be expected. Only a breakout below 135.63 would question the upside expectations, but it will take a break below 134.62 to invalidate the bullish outlook.
Trading recommendation: We are long EUR from 135.10 with stop placed at 135.30. If you are not long EUR yet, buy near 136.00 or upon a break above 136.60, using the same stop at 135.30.
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Daily analysis of USDX for October 16, 2015
On the daily chart, the USDX is currently trying to stay above the 200 SMA, because a decline is no longer strong on a short-term basis. However, this scenario could change when the index manages to form a lower low pattern to reach new lows. A rebound at the current stage could send the USDX to the resistance level of 95.26.
https://forex-images.instaforex.com/.../USDXDaily.png
The index is recovering from the losses on an intraday basis and now is facing the resistance level of 94.61. In case of a breakout, the USDX is likely to move towards 94.98, where the 200 SMA is located. At the current stage, we can expect a pullback, which should not extend more than above the range zone of 94.73.
https://forex-images.instaforex.com/...015/USDXH1.png
Daily chart's resistance levels: 94.36 / 95.26
Daily chart's support levels: 93.16 / 92.33
H1 chart's resistance levels: 94.61 / 94.98
H1 chart's support levels: 94.15 / 93.73
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US dollar index breaks with a bearish candlestick; the support level is seen at 94.15, take profit is at 93.73, and stop loss is at 94.58.
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Technical analysis of USD/JPY for October 21, 2015
https://forex-images.instaforex.com/...1/!_USDJPY.jpg
In Asia, Japan will release data on all industry activity m/m and the trade balance. The US will publish economic data on Crude Oil Inventories. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 120.51.
Resistance. 2: 120.28.
Resistance. 1: 120.05.
Support. 1: 119.76.
Support. 2: 119.53.
Support. 3: 119.28.
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Technical analysis of EUR/USD for October 22, 2015
https://forex-images.instaforex.com/...2/!_EURUSD.jpg
When the European market opens, some economic news on the Consumer Confidence, Minimum Bid Rate, and Spanish Unemployment Rate.The US will release data on the Natural Gas Storage, CB Leading Index m/m, Existing Home Sales, HPI m/m, and Unemployment Claims. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1402.
Strong Resistance:1.1395.
Original Resistance: 1.1384.
Inner Sell Area: 1.1373.
Target Inner Area: 1.1346.
Inner Buy Area: 1.1319.
Original Support: 1.1308.
Strong Support: 1.1297.
Breakout SELL Level: 1.1290.
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echnical analysis of EUR/USD for October 23, 2015
https://forex-images.instaforex.com/...3/!_EURUSD.jpg
When the European market opens, some economic news on the Belgian NBB Business Climate, Italian Retail Sales m/m, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI is due to be released. The US will unveil economic data on the Flash Manufacturing PMI. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1136.
Strong Resistance:1.1130.
Original Resistance: 1.1119.
Inner Sell Area: 1.1108.
Target Inner Area: 1.1082.
Inner Buy Area: 1.1056.
Original Support: 1.1045.
Strong Support: 1.1034.
Breakout SELL Level: 1.1028.
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Daily analysis of GBP/USD for October 26, 2015
https://forex-images.instaforex.com/...5/GBPUSDH1.png
On the H1 chart, there is a pullback in progress from the 200 SMA until the support level of 1.5306, where the GBP/USD pair is expected to find a bottom. A rebound over there will push the pair towards the resistance level of 1.5339, where a breakout can happen for another rally towards the zone 1.5374. The 200 SMA is slightly pointing to the downside. Our short-term outlook remains bullish as long as the pair continues to trade above the level of 1.5264.
H1 chart's resistance levels: 1.5339 / 1.5374
H1 chart's support levels: 1.5306 / 1.5264
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 seen at 1.5339, take profit is at 1.5374, and stop loss is at 1.5305.
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Technical analysis of EUR/USD for October 27, 2015
https://forex-images.instaforex.com/...7/!_EURUSD.jpg
When the European market opens, economic news on Private Loans y/y and M3 Money Supply y/y is due to be released. The US will publish data about the Richmond Manufacturing Index, CB Consumer Confidence, Flash Services PMI, S&P/CS Composite-20 HPI y/y, Durable Goods Orders m/m, and Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1111.
Strong Resistance:1.1105.
Original Resistance: 1.1094.
Inner Sell Area: 1.1083.
Target Inner Area: 1.1057.
Inner Buy Area: 1.1031.
Original Support: 1.1020.
Strong Support: 1.1009.
Breakout SELL Level: 1.1003.
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Daily analysis of GBP/USD for October 28, 2015
https://forex-images.instaforex.com/...7/GBPUSDH1.png
IThe current structure still seems to call for more downside moves as the pair is consolidating below the 200 SMA in the H1 chart. We can see a lower low pattern formation above the support level of 1.5296. A breakout below that zone will expose the GBP/USD pair to test the level of 1.5262. However, we cannot discard a corrective move until the level of 1.5339.
H1 chart's resistance levels: 1.5339 / 1.5365
H1 chart's support levels: 1.5296 / 1.5262
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 seen at 1.5296, take profit is at 1.5265, and stop loss is at 1.5331.
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Technical analysis of EUR/JPY for October 29 2015
https://forex-images.instaforex.com/...py29102015.jpg
Technical outlook and chart setups:
The EUR/JPY pair seemed to reach a major low at 131.57 yesterday. Please note that the daily chart view presented here suggests that the pair has bounced off the fibonacci 0.618 support levels of the entire rally from the sub-level of 126.00 through 141.00 earlier. The low formed yesterday could be a major infliction point for the next potential rally through fresh swing highs. It is highly recommended to initiate fresh long positions now with risk around 131.40/50. Immediate support is seen at 131.00 followed by 129.00 and lower, while resistance is seen at 137.00 followed by 138.00/139.00 and higher.
Trading recommendations: Initiate fresh long positions with stop at 131.40/50, a target is open.
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Technical analysis of EUR/USD for October 30, 2015
https://forex-images.instaforex.com/...6_EURUSDH1.png
Overview:
The The daily pivot is set at the leve the level of 1.1009. Also, the minor resistance level is seen at 1.1009 today. The price is around this key level now. Consequently, the market will call for a bullish trend, if the price holds above the level of 1.1009. Accordingly, if the trend fails to close below the daily pivot point, it will be a good opportunity to buy above the level of 1.1015 with the first target at 1.1080, then it is expected to continue moving in an uptrend towards 1.1133 in order to test the daily resistance 1. At the same time, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. As a result, the best location to set your stop loss should be placed below the level of 1.0975. It should be noted that the level of 1.0905 represents the double bottom.
Notes:
The daily support is found at the level of 1.0950. The major resistance is seen at the 1.1133. We saw an insignificant range of 68 pips yesterday because the volatility was not high. But, today we expect a large range between 1.0905 and 1.1133.
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