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Daily analysis of GBP/USD for USDX 02, 2015
https://forex-images.instaforex.com/...101/USDXH1.png
USDX is trying to make a rebound above the 200 SMA on H1 chart, and that could happen in the short-term because of the current fractal structure placed on this Index. A breakout above the 97.16 level will open the doors to the 97.51 price zone. In another scenario, bears could take control of the short-term bias when the USDX is making a lower low pattern below the 200 SMA this week. MACD indicator is on the positive territory.
H1 chart's resistance levels: 97.16 / 97.51
H1 chart's support levels: 96.71 / 96.40
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 97.16, take profit is at 97.51, and stop loss is at 96.81.
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Technical analysis of USD/JPY for November 03, 2015
https://forex-images.instaforex.com/...3/!_USDJPY.jpg
In Asia, Japan will not release any economic data. However, the US will release some economic data such as Total Vehicle Sales, IBD/TIPP Economic Optimism, and Factory Orders m/m. So there is a big probability the USD/JPY pair will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 121.35.
Resistance. 2: 121.12.
Resistance. 1: 120.88.
Support. 1: 120.58.
Support. 2: 120.35.
Support. 3: 120.11.
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Apple, Google, Microsoft uphold efforts to ease climate change
http://forex-images.mt5.com/prime_ne...96453e5251.jpg
Apple Inc., Google parent Alphabet Inc., and Microsoft Corp. are among the best companies doing their best to fight climate change. UK nonprofit CDP's 2015 Climate A List indicated the three US technology giants are among the 113 firms awarded an 'A' grade for their actions to ease heat-trapping emissions. The list was narrowed down to 1,997 companies worldwide that submitted data to the institution. The endeavors by Asahi Group Holdings Ltd. and Nedbank Group Ltd. reflected a growing trend by firms around the globe to bolster efforts to protect the environment. The CDP report added nine in 10 companies implement measures to cut greenhouse gases, up from less than half in 2010. We must act swiftly and boldly to contend with climate change, meaning change the way we manage business, holding ourselves responsible, and creating innovative solutions that drive a low-carbon economy,” said Hewlett Packard Enterprise Co. Chief Executive Meg Whitman. The United Nations has pressed companies to come up with a global deal to counter the effects of climate change at a meeting in Paris next month.
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Daily analysis of GBP/USD for November 04, 2015
GBP/USD made a rebound around the 200 SMA price zone on H1 chart. Now it's trying to break again the support level of 1.5415. It seems there is a bullish consolidation ongoing, because the current structure is still calling for more upsides. However, if the Cable does a breakout at the 1.5368 level, then it's expected to test the 1.5300 psychological level in the short term. MACD indicator is still on the positive territory.
H1 chart's resistance levels: 1.5461 / 1.5492
H1 chart's support levels: 1.5415 / 1.5368
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 1.5415, take profit is at 1.5368, and stop loss is at 1.5461.
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Daily analysis of GBP/USD for November 05, 2015
https://forex-images.instaforex.com/...4/GBPUSDH1.png
On H1 chart, there is still a calling downside for GBP/USD, as the pair is trying to break support zone of 1.5368 in an effort to reach the 1.5328 level, which is below the 200 SMA. However, a rebound is expected towards the 1.5415 level in coming hours. By the way, there is a double bottom pattern in formation on H1 chart. MACD indicator is still on the negative territory.
H1 chart's resistance levels: 1.5415 / 1.5461
H1 chart's support levels: 1.5368 / 1.5328
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 1.5368, take profit is at 1.5328, and stop loss is at 1.5409.
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Daily analysis of USDX for November 06, 2015
https://forex-images.instaforex.com/...105/USDXH1.png
On H1 chart, we should note the USDX is waiting for the next US NFP release, which will be published during today's American session. That's why we're still expecting a breakout higher and we could see the US Dollar at higher levels next week. Bear in mind that the Index is trapped inside an extreme zone, so pullbacks shouldn't be discarded at this stage. MACD indicator is entering the negative territory.
H1 chart's resistance levels: 97.16 / 97.51
H1 chart's support levels: 96.71 / 96.40
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 98.03, take profit is at 98.31, and stop loss is at 97.76.
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Technical analysis of EUR/USD for November 09, 2015
When the European market opens, some economic news will be released such as Eurogroup Meetings minutes, Sentix Investor Confidence, and German Trade Balance. The US will release the macroeconomic report too such as the Labor Market Conditions Index m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.0782. Strong Resistance:1.0776. Original Resistance: 1.0765. Inner Sell Area: 1.0754. Target Inner Area: 1.0729. Inner Buy Area: 1.0704. Original Support: 1.0693. Strong Support: 1.0682. Breakout SELL Level: 1.0676.
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Technical analysis of GBP/CHF for November 11, 2015
https://forex-images.instaforex.com/...hf11112015.jpg
Technical outlook and chart setups:
The GBP/CHF pair rallied through the resistance levels around 1.5220/30, and even exceeded by a few pips before pulling back. As we can see on the H4 chart, the pair has also hit the Fibonacci resistance at 0.618 and produced a pin bar candle indicating a potential reversal. If the level of 1.5350 manages to hold the next leg could be on the lower side. It is hence recommended to go short now, with risk above 1.5350 levels. Immediate support is seen at the 1.4950, followed by 1.4700 and lower, while resistance is seen at 1.5350 (interim), followed by 1.5400.
Trading recommendations:
Stay short now, stop is at 1.5380, a target is 1.4820.
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Technical analysis of USD/JPY for November 12, 201
https://forex-images.instaforex.com/...2/!_USDJPY.jpg
In Asia, Japan will release data on the 30-y Bond Auction, PPI y/y and Core Machinery Orders m/m. The US will publish economic news on the Federal Budget Balance, 30-y Bond Auction, Crude Oil Inventories, JOLTS Job Openings, and Unemployment Claims. 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: 123.46.
Resistance. 2: 123.22.
Resistance. 1: 122.98.
Support. 1: 122.69.
Support. 2: 122.45.
Support. 3: 122.21.
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Technical analysis of USD/JPY for November 13, 2015
https://forex-images.instaforex.com/...3/!_USDJPY.jpg
In Asia, Japan will release data on the Tertiary Industry Activity m/m and Revised Industrial Production m/m. The US will publish some economic news on the Natural Gas Storage, Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Core PPI m/m, Retail Sales m/m, Retail Sales m/m, PPI m/m, and Core Retail Sales m/m. 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: 123.31.
Resistance. 2: 123.07.
Resistance. 1: 122.84.
Support. 1: 122.54.
Support. 2: 122.30.
Support. 3: 122.06.
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Technical analysis of EUR/USD for November 16, 2015
https://forex-images.instaforex.com/...6/!_EURUSD.jpg
When the European market opens, some economic news on the German Buba Monthly Report, ECB President Draghi Speaks, Final Core CPI y/y, and Final CPI y/y is due to be released.The US will unveil economic data on the Empire State Manufacturing Index. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.0775.
Strong Resistance:1.0769.
Original Resistance: 1.0758.
Inner Sell Area: 1.0747.
Target Inner Area: 1.0722.
Inner Buy Area: 1.0697.
Original Support: 1.0686.
Strong Support: 1.0675.
Breakout SELL Level: 1.0669.
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Elliott wave analysis of EUR/JPY for November 17, 2015
https://forex-images.instaforex.com/...-EURJPY-4H.png
Wave summary:
We continue watching for renewed downside pressure as the next impulsive decline towards 124.54 unfolds. We have seen the first minor impulsive wave (wave i) to 130.64 and wave ii is currently unfolding. Ideally, wave ii will stay below minor resistance at 132.30 for the next impulsive wave lower towards at least 128.78 and even lower to 126.65 in wave iii of (iii). Resistance at 132.76 now needs to protect the upside or an even more complex correction in wave (ii) than already seen is unfolding.
Trading recommendation:
We are short EUR from 132.09 and will move our stop lower to 132.80. If you are not short EUR already then sell near 132.30 with the same stop at 132.80.
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Daily analysis of GBP/JPY for November 19, 2015
https://forex-images.instaforex.com/...9/GBPJPYH4.png
Overview:
A sharp rise in GBP/JPY and a breakout of resistance at 188.28 invalidated our bearish view. Rebound from 180.36 is resuming and intraday bias is back on the upside. A further rally towards resistance at 195.86 would be seen again. In case of retreat, we will stay cautiously bullish as long as support at 185.98 holds. The breach of the medium-term trend-line support is taken as a sign of trend reversal. This is supported by bearish divergence condition in the weekly MACD. Also, GBP/JPY was close to key cluster resistance of 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to the psychological level of 200. A breakout of 174.86 will confirm trend reversal and bring a deeper fall to 38.2% retracement of 116.83 to 195.86 at 165.67. In case of another rise, we will be cautious on strong resistance from 199.80/200.00, which can finally bring reversal.
Daily Pivots: (S1) 187.59; (P) 187.92; (R1) 188.58;
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Technical analysis of EUR/USD for November 20, 2015
https://forex-images.instaforex.com/...0/!_EURUSD.jpg
When the European market opens, economic news on the Consumer Confidencem, German PPI m/m, and ECB President Draghi Speaks is due to be published. The US will not release any economic data today. So amid the reports, the EUR/USD pair will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.0769.
Strong Resistance:1.0763.
Original Resistance: 1.0752.
Inner Sell Area: 1.0741.
Target Inner Area: 1.0716.
Inner Buy Area: 1.0691.
Original Support: 1.0680.
Strong Support: 1.0669.
Breakout sell level: 1.0663.
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Elliott wave analysis of EUR/JPY for November 23, 2015
https://forex-images.instaforex.com/...-EURJPY-8H.png
Wave summary:
We continue to watch for a bottom for a rally towards 137.07. If a diagonal count is correct, then support at 130.13 should be able to protect the downside for a rally above 132.27 and more importantly a break above the resistance at 132.76 confirming the rally towards 137.07. Should the support at 130.13 be broken the diagonal/wedge count is invalidated and downside acceleration towards 126.05 should be expected.
Trading recommendation: We are long EUR from 131.25 with stop placed at 130.50. If you are not long EUR yet, then buy on a break above 132.27 and use the same stop, but expected to be raised quickly.
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Japan Manufacturing Growth At 20-Month High
https://forex-images.instaforex.com/...ew/japan/1.jpg
Japan's manufacturing activity expanded at the fastest pace in twenty months in November, as output growth quickened, the latest flash survey from Markit Economics showed Tuesday. The Markit/ Nikkei Manufacturing Purchasing Managers' Index, or PMI, rose to 52.8 in November from 52.4 in October. A score above 50 indicates expansion in the sector. Manufacturing output cotniuned to grow sharply in November and the latest rate of increase was the fastest since March 2014. At the same time, new orders rose at a slower rate in November, while growth in exports orders accelerated to a five-month high. On the price fornt, input prices climbed at the fastest rate in four months, although inflation remained historically muted. The final manufacturing PMI figures will be published on 1st December
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Daily analysis of GBP/USD for November 24, 2015
https://forex-images.instaforex.com/...4_GBPUSDH1.png
The pair is extending losses below the 200 SMA, as we can see on the H1 chart. Currently, the support level of 1.5100 should be challenged in order to reach another low towards the zone of 1.5062. This moving average is also pointing to the downside, so bears are still getting favored by the main bias. The MACD indicator is reaching the neutral territory and that is why we should be aware of future sideways short-term moves.
H1 chart's resistance levels: 1.5142 / 1.5205
H1 chart's support levels: 1.5100 / 1.5062
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 found at 1.5100, take profit is at 1.5062, and stop loss is at 1.5138.
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Technical analysis of EUR/USD for November 25, 2015
https://forex-images.instaforex.com/...5/!_EURUSD.jpg
When the European market opens, economic news on the German 10-y Bond Auction, Italian Retail Sales m/m is due to be released. The US will unveil the economic data on the Natural Gas Storage, Crude Oil Inventories, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, New Home Sales, Flash Services PMI, HPI m/m, Personal Income m/m, Personal Spending m/m, Durable Goods Orders m/m, Core PCE Price Index m/m, Unemployment Claims, 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: 1.0701. Strong Resistance:1.0694. Original Resistance: 1.0684. Inner Sell Area: 1.0674. Target Inner Area: 1.0648. Inner Buy Area: 1.0623. Original Support: 1.0613. Strong Support: 1.0603. Breakout sell level: 1.0596.
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Daily analysis of USDX for November 26, 2015
https://forex-images.instaforex.com/...125/USDXH1.png
On H1 chart, USDX tried to consolidate again above the 100.00 price zone, but the Index is trying to correct the current rally towards the 200 SMA around the support level of 99.25. If USDX does a rebound above it, then we could see another rally above the 100.24 level in the short term. That moving average is slightly bullish, but MACD indicator is on the negative territory.
H1 chart's resistance levels: 99.80 / 100.24
H1 chart's support levels: 99.25 / 98.82
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 99.80, take profit is at 100.24, and stop loss is at 99.37.
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Technical analysis of EUR/USD for November 27, 2015
https://forex-images.instaforex.com/...9_EURUSDH1.png
Overview:
The EUR/USD pair is still trading between the levels of 1.0674 and 1.0587. The level of 1.0674 will indicate strong resistance; moreover, the pair is likely to find minor support level of 1.0587. Therefore, it will be quite profitable to sell at 1.0674 again (short term) with the first target at 1.0587, then it will continue towards 1.0565. Also, it should be noted that strong support was found at 1.0528 in the H1 chart. On the other hand, if the pair closes above the resistance level, then the best location for placing a stop loss is seen above 1.0674. In addition, please be aware that the trend has broken the daily support 1 and 2, for that it calls for a bearish market. Equally important is that the RSI and the Moving Average (100) are still calling for a downtrend from the area of 1.0680.
Trading recommendations: The area of 1.0680 has marked a strong support spot for that it will of the wisdom to go short below the level of 1.0680 with targets at 1.0587, 1.0565, and 1.0530. However, the stop loss should be place at 1.0696.
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Technical analysis of USD/CHF for December 02, 2015
https://forex-images.instaforex.com/.../USDCHFM30.png
The USD/CHF pair is expected to trade with a bullish above 1.0245. The pair is now trading sideways within an intraday range, but stands firmly above its key support at 1.0250, which has been tested for at least 4 times. The intraday relative strength index is mixed calling for caution. We should keep a close eye on the threshold at 1.0245, as long as it is not broken, look for a technical rebound to 1.0330 and 1.0370.
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 1.0330 and the second target at 1.0370. In the alternative scenario, short positions are recommended with the first target at 1.0220 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 1.0195. The pivot point is at 1.0260.
Resistance levels: 1.0330 1.0370 1.0410
Support levels: 1..0220 1.0195 1.0170
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Daily analysis of USDX for December 04, 2015
https://forex-images.instaforex.com/...203/USDXH1.png
On the H1 chart, the USDX had a very bearish reaction after the ECB meeting and that is why we can currently observe a sharp drop towards the support level of 97.60, where a temporal bottom is found. However, we can expect a corrective move until the resistance zone of 98.80 in which a breakout could open the doors to test the level of 99.25. The MACD indicator is reaching oversold conditions.
H1 chart's resistance levels: 98.80 / 99.25
H1 chart's support levels: 97.60 / 97.01
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks with a bullish candlestick; the resistance level is seen at 98.80, take profit is at 99.25, and stop loss is at 98.34.
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Global macro overview
https://forex-images.instaforex.com/...151204/dxy.jpg
Global macro overview for 04/12/2015:
The Non Farm Payrolls release is scheduled for 1:30 pm GMT today . Market participants expect quite nice improvement in number of jobs created: 271 K is expected versus 201 K month before. Moreover, the average hourly earnings are forecasted to rise from 0.2% to 0.4%. The unemployment rate should stay unchanged at the level of 5.0%. Please notice this jobs report is the last one before the Federal Reserves opportunity to raise rates on December 16. If the numbers come in in line or better then expected, the Fed will have green light to raise the short-term interest rates at its next meeting.
The US dollar index declined yesterday to the support level of 98.34 and broke slightly below it. The next support is seen at the level of 97.82.
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Technical analysis of GBP/JPY for December 07, 2015
https://forex-images.instaforex.com/.../GBPJPYM30.png
GBP/JPY is expected to trade with a bullish bias above 185.50. A support base at 185.50 was formed allowing temporary stabilization. The pair is expected to look for a higher top as the relative strength index is well directed. Further upside movement is therefore expected with the next horizontal resistance and overlap set at 186.55 first. A breakout above this level would call for further advance towards 187.
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 186.55 and the second target at 187. In the alternative scenario, short positions are recommended with the first target at 185.05 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 184.55. The pivot point is at 185.50. Resistance levels: 186.55 187 187.75 Support levels: 185.05 184.55 184
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Elliott wave analysis of EUR/JPY for December 8, 2015
https://forex-images.instaforex.com/...-EURJPY-8H.png
Wave summary:
EUR/JPY failed to test the leading diagonal resistance-line, which has prolonged the correction from 134.59 and keeps a window open for a deeper correction lower to 132.88 before the next move higher towards 136.69 to the the corrective rally of the wave (i) low at 129.62. Only a direct breakout above minor resistance at 134.12 will indicate a new test of a high of 134.95 and above here confirming the rally higher towards 136.69.
Trading recommendation: Our stop at 133.50 was hit for a small loss. We will re-buy EUR at 132.95 or upon a breakout above 134.12 (one order done cancels the other).
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Daily analysis of Silver for December 09, 2015
https://forex-images.instaforex.com/...9/SILVERH4.png
Overview
The silver price continues fluctuating near the previously breached minor bearish channel's resistance level, keeping its stability above this level. It keeps the bullish trend scenario valid and active for today. It depends on the stability above the 13.96 level, while its main target is located at 14.85. Remember to monitor the price behavior when reaching any of the above-mentioned levels as breaching the 14.85 level will lead the price to achieve more gains. Breaking of 13.96 represents the key of resuming the main bearish trend, which next targets are located at 13.50 then 13.00. On the other hand, you should take into consideration that breaking of the 13.96 level will stop the suggested rise and push the price to decline again.
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Technical analysis of Gold for December 10, 2015
https://forex-images.instaforex.com/...sd10122015.jpg
Technical outlook and chart setups:
Gold is trading around $1,072.00/73.00 now looking for an opportunity to drop lower to the levels of $1,060.00/62.00 before resuming its previous rally. Please note that Fibonacci 0.618 support of the rally between $1,045.00 and $1,090.00 also falls around the levels of $1,060.00. Furthermore, the immediate resistance line turned support. It is recommended to exit short positions and remain flat now. Look for an opportunity to go long around the levels of $1,060.00/62.00with risk below $1,045.00. Immediate support is seen at $1,060.00 followed by $1,045.00, while resistance is seen at $1,090.00.
Trading recommendations: Exit short positions and remain flat now. Look for an opportunity to initiate long positions around the levels of $1,060.00 with stop at $1,042.00, a target is open.
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Daily analysis of GBP/USD for December 14, 2015
https://forex-images.instaforex.com/...3/GBPUSDH1.png
The GBP/USD pair is forming a higher high pattern above the support level of 1.5181, after a bullish consolidation performed above the 200 SMA on the H1 chart. However, the pair is trying to do some consolidation moves in a slow bias, so we should be aware of any deeper pullbacks that could make this pair to test the support level of 1.5122. The MACD indicator is at the positive territory.
H1 chart's resistance levels: 1.5238 / 1.5302
H1 chart's support levels: 1.5181 / 1.5122
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 1.5238, take profit is at 1.5302, and stop loss is at 1.5178.
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Elliott wave analysis of EUR/JPY for December 15, 2015
https://forex-images.instaforex.com/...-EURJPY-8H.png
Wave summary:
An anticipated correction in wave b seems to end just before the 50% corrective target at 132.11 (the low of 132.48), a breakout above minor resistance at 133.34 will be the first good indication that wave b is over, while a breakout above resistance at 133.77 will be needed to confirm that wave b is over and wave c is headed higher towards at least 135.34 and even 136.69. Support is found at 132.80 and should protect the downside for a breakout above 133.34. Trading recommendation: We will buy at 132.90 or upon a breakout above 133.77 with stop at 132.40.
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Daily analysis of USDX for December 16, 2015
https://forex-images.instaforex.com/...215/USDXH1.png
On the H1 chart, the USDX is preparing to do a pullback at the 200 SMA, because of the current weakness, but bear in mind the index could try an intraday consolidation above the 200 SMA to face resistance in the zone of 98.80. In another scenario, a pullback can send the USDX to visit the support level of 97.01. The MACD indicator is overbought.
H1 chart's resistance levels: 98.14 / 98.80
H1 chart's support levels: 97.60 / 97.01
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX breaks with a bearish candlestick; the support level is found at 97.60, take profit is at 97.01, and stop loss is at 98.21.
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Technical analysis of GBP/USD for December 17, 2015
https://forex-images.instaforex.com/...7/GBPUSDH4.png
Overview:
The resistance is seen at the level of 1.5034, and a double top is placed at 1.5062 in the H4 chart. Also, it should be noted that the daily pivot point had already placed at 1.5034 in the same time frame. Consequently, the descending movement will probably be lower than the level of 1.5034 with a targets at 1.4894 in order to try breaking a double bottom. If the pair is able to break the double bottom at 1.4894, it will continue moving towards the levels of 1.4854 (support 2). On the contrary, the support was already found at 1.4854. Furthermore, it should be noted that it will rather profitable to buy above this level to retest this level in the long period. Therefore, buy deals are recommended above the level of 1.4854 with targets at 1.4903 and 1.5033 to retest the support from below again.
General idea about the pivot point. Resistance 3 and support 3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well in the sideways markets as the prices are most likely to be located between resistance 1 and support 1. Within a strong trend, the price is expected to be lower than the pivot point line and continue moving. If the breaking news released may affect the market, the price is likely to go straight through resistance 1 or support 1 and even reach resistance 2 and resistance 3 or support 2 and support 3. If the trend breaks resistance or support, it is likely to result in a significant price movement.
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Daily analysis of USDX for December 18, 2015
https://forex-images.instaforex.com/...217/USDXH1.png
It seems that the index is trying to consolidate above the 200 SMA for a bullish ride in a short-term basis. However, because of this, the USDX could start to pullback towards the support level of 98.80, where a rebound can happen. It should be noted also that there is a higher high pattern formation ongoing in the H1 chart. The MACD indicator is entering at the negative territory.
H1 chart's resistance levels: 99.19 / 99.48
H1 chart's support levels: 98.80 / 98.14
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks the bullish resistance level at 99.19, take profit is at 99.48, and stop loss is at 98.86.
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Daily analysis of GBP/USD for December 22, 2015
https://forex-images.instaforex.com/...2_GBPUSDH1.png
No major changes in GBP/USD in Monday's session and during the Christmas week. The support zone of 1.4852 is still a strong level where buyers remain active on a short-term basis. However, we can expect a rally towards the resistance level of 1.4962 as part of the corrective moves within the current intraday's trend. MACD indicator is on the negative territory.
H1 chart's resistance levels: 1.4918 / 1.4962
H1 chart's support levels: 1.4852 / 1.4802
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 1.4852, take profit is at 1.4802, and stop loss is at 1.4904.
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Daily analysis of GBP/USD for January 04, 2016
https://forex-images.instaforex.com/...3/GBPUSDH1.png
According to the H1 chart, GBP/USD is doing a strong bearish consolidation below the 1.4802 level, after a sideways range move before the New Year's eve. Currently, we can expect a decline below the 1.4702 level, which would open the doors to test the 1.4608 level on a short-term basis. The 200 SMA in this time frame is still pointing to the downside. The MACD indicator is at the negative territory.
H1 chart's resistance levels: 1.4802 / 1.4918
H1 chart's support levels: 1.4702 / 1.4608
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 1.4702, take profit is at 1.4608, and stop loss is at 1.4793.
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Daily analysis of USD/JPY for January 05, 2016
https://forex-images.instaforex.com/...5/EURJPYH4.png
Overview
A strong break of the 129.66 support confirmed resumption of a whole decline from 141.04. Intraday bias remains on the downside for the moment. A break of lower channel support (now at 128.56) will indicate downside acceleration and target a test at the 126.09 key support level. On the upside, movements above 130.16 minor resistance will turn bias neutral and bring consolidations. But the near-term outlook will stay bearish as long as the 134.58 resistance holds. We expect more range trading between 126.09 and 149.76 in the medium term. Then it should be followed by an upside breakout at a later stage. Nonetheless, a break of 126.09 would extend the correction towards 61.8% retracement at 115.36.
Daily Pivots: (S1) 128.45; (P) 129.60; (R1) 130.54
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Technical analysis of EUR/USD for January 06, 2016
https://forex-images.instaforex.com/...6/!_EURUSD.jpg
When the European market opens, some economic news will be released such as PPI m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI.The US will release the economic data too such as the FOMC Meeting Minutes, Crude Oil Inventories, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Trade Balance, ADP Non-Farm Employment Change, so amid the reports, EUR/USD will move low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.0797.
Strong Resistance:1.0791.
Original Resistance: 1.0780.
Inner Sell Area: 1.0769.
Target Inner Area: 1.0744.
Inner Buy Area: 1.0719.
Original Support: 1.0708.
Strong Support: 1.0697.
Breakout SELL Level: 1.0691.
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Daily analysis of EUR/JPY for January 07, 2016
https://forex-images.instaforex.com/...7/EURJPYH4.png
Overview
The outlook for the EUR/JPY pair is unchanged for the moment. While further fall is expected, we stay cautious about the strong support from 126.09. A break of the 129.66 support turned into resistance will indicate short-term bottoming and turn bias back to the upside for the 134.58 resistance. However, a decisive break of 126.09 will extend the larger decline from 149.76. The strong rebound after failing to sustain below 38.2% retracement of 94.11 to 149.76 at 128.50 points to the development of a sideways pattern. We expect more range trading between 126.09 and 149.76 in the medium term. An upside breakout should follow it at a later stage. Nevertheless, a decisive break of 126.09 would extend the correction towards the 61.8% retracement at 115.36.
Daily Pivots: (S1) 127.09; (P) 127.63; (R1) 128.25
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Technical analysis of NZD/USD for January 08, 2016
https://forex-images.instaforex.com/.../NZDUSDM30.png
NZD/USD is expected to trade in a lower range as the key resistance is at 0.6665. The pair remains under pressure below its key resistance at 0.6665, and it seems likely to post a new decline to test its support at 0.6590, representing the previous swing low. A break below this threshold would trigger a new pullback to 0.6560. The relative strength index lacks upward momentum. To sum up, as long as 0.6665 holds on the upside, look for 0.6580 and 0.6560 in extension.
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 0.6590. A break of that target will move the pair further downwards to 0.6560. The pivot point stands at 0.6660. 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 0.6710 and the second target at 0.6760.
Resistance levels: 0.6710, 0.6760, 0.6790
Support levels: 0.6580, 0.6560, 0.6525
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Elliott wave analysis of EUR/NZD for January 11, 2016
https://forex-images.instaforex.com/...-EURNZD-8H.png
Wave summary:
Our count continues to work perfectly and we have already seen resistance at 1.6748 tested, but not yet broken clearly. However, it should just be a matter of time before the break above the resistance at 1.6748 is seen for a continuation higher towards 1.7133 as the next major upside target.
In the short term, we will ideally see support at 1.6526 protect the downside for the next rally above 1.6748 for the rally towards 1.7133.
Trading recommendation: We are long EUR from 1.5810 and we will move our stop higher to 1.6235. If you are not long EUR yet, then buy near 1.6526 and use the same stop at 1.6235.
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Technical analysis of EUR/USD for January 12, 2016
https://forex-images.instaforex.com/...2/!_EURUSD.jpg
When the European market opens, no news will be released from the eurozone. However, the US will post some economic reports such as IBD/TIPP Economic Optimism, JOLTS Job Openings, and NFIB Small Business Index. So amid the reports, EUR/USD will move with low to medium volatility today.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0905.
Strong Resistance:1.0899.
Original Resistance: 1.0888.
Inner Sell Area: 1.0877.
Target Inner Area: 1.0852.
Inner Buy Area: 1.0827.
Original Support: 1.0816.
Strong Support: 1.0805.
Breakout SELL Level: 1.0799.
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