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InstaForex Gertrude · Guru

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

InstaForex Gertrude · Guru

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

InstaForex Gertrude · Guru

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

InstaForex Gertrude · Guru

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

InstaForex Gertrude · Guru

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

InstaForex Gertrude · Guru

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

InstaForex Gertrude · Guru

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

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Dec 06, 2016

When the European market opens, some Economic Data will be released, such as ECOFIN Meetings, Revised GDP q/q, Retail PMI, and German Factory Orders m/m. The US will release the economic data, too, such as IBD/TIPP Economic Optimism, Factory Orders m/m, Revised Unit Labor Costs q/q, Trade Balance, and Revised Nonfarm Productivity q/q. So, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0808.
Strong Resistance:1.0802.
Original Resistance: 1.0791.
Inner Sell Area: 1.0780.
Target Inner Area: 1.0755.
Inner Buy Area: 1.0730.
Original Support: 1.0719.
Strong Support: 1.0708.
Breakout SELL Level: 1.0702.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Dec 07, 2016

When the European market opens, some economic data are due today such as Italian Quarterly Unemployment Rate, French Trade Balance, and German Industrial Production m/m. The US will release the economic data too such as Consumer Credit m/m, Crude Oil Inventories, and JOLTS Job Openings. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.0766.
Strong Resistance:1.0760.
Original Resistance: 1.0749.
Inner Sell Area: 1.0738.
Target Inner Area: 1.0713.
Inner Buy Area: 1.0688.
Original Support: 1.0677.
Strong Support: 1.0666.
Breakout SELL Level: 1.0660.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of GBP/JPY for December 09, 2016

GBP/JPY is Under pressure. The pair is trading below its resistance at 144.75, which should limit the upside attempts. The downward momentum is further reinforced by its descending 50-period moving average, which maintains a downside bias. Besides, the relative strength index is below its neutrality area at 50, and lacks upward momentum. To sum up, as long as 144.75 is not surpassed, the pair is likely to drop to 143.30 and then to 142.70.

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 143.30. A break below this target will move the pair further downwards to 142.70. The pivot point stands at 144.75. 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 145.15 and the second one at 145.70.

Resistance levels: 145.15, 145.70, 146.35
Support levels: 143.30, 142.70, 141.50

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Intraday technical levels and trading recommendations for GBP/USD for December 12, 2016

The price zone between 1.3845 and 1.3550 (historical bottoms set in January 2009) was considered a significant demand zone to be watched for bullish recovery.
However, by the end of June a significant bearish break below 1.3550 was expressed as seen on the depicted charts (fundamental reasons).
Bearish persistence below the demand level at 1.3550 enhanced the bearish scenario towards the current price levels around 1.2700 (nearest bearish projection target).
Note that the GBP/USD pair was trapped inside the depicted consolidation range above 1.2700 until a bearish breakout took place on October 6.
Daily persistence below 1.2700 confirmed the bearish Flag pattern. That is why, a bearish projection target would be located around 1.2020.
Recently, bullish recovery was manifested around 1.2080. That is why, a bullish pullback is being executed towards 1.2700-1.2750.
Risky traders can consider the current bullish pullback towards the price zone of 1.2700-1.2750 for a valid SELL entry. S/L should be set as daily closure above 1.2750. T/P levels should be located at 1.2300 and 1.2100.
This SELL entry should be managed cautiously as the ascending bottoms around the price levels of 1.2120 and 1.2320 will probably apply significant bullish pressure over the Supply zone of 1.2700-1.2750.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Intraday technical levels and trading recommendations for GBP/USD for December 12, 2016 The price zone between 1.3845 and 1.3550 (historical bottoms set in January 2009) was considered a significant demand zone to be watched for bullish recovery. However, by the end of June a significant bearish break below 1.3550 was expressed as seen on the depicted charts (fundamental reasons). Bearish persistence below the demand level at 1.3550 enhanced the bearish scenario towards the current price levels around 1.2700 (nearest bearish projection target). Note that the GBP/USD pair was trapped inside the depicted consolidation range above 1.2700 until a bearish breakout took place on October 6. Daily persistence below 1.2700 confirmed the bearish Flag pattern. That is why, a bearish projection target would be located around 1.2020. Recently, bullish recovery was manifested around 1.2080. That is why, a bullish pullback is being executed towards 1.2700-1.2750. Risky traders can consider the current bullish pullback towards the price zone of 1.2700-1.2750 for a valid SELL entry. S/L should be set as daily closure above 1.2750. T/P levels should be located at 1.2300 and 1.2100. This SELL entry should be managed cautiously as the ascending bottoms around the price levels of 1.2120 and 1.2320 will probably apply significant bullish pressure over the Supply zone of 1.2700-1.2750. More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of GBP/USD for December 14, 2016

GBP/USD pulled back from the resistance level of 1.2700, ahead of FOMC meeting. Currently, it's still hovering above the 200 SMA, strengthening the bullish bias in the short term and that's why we're still favoring further gains. However, if the pair manages to break below the 1.2613 level, then it can test the 1.2551 level.

H1 chart's resistance levels: 1.2700 / 1.2763
H1 chart's support levels: 1.2613 / 1.2551

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 1.2700, take profit is at 1.2763 and stop loss is at 1.2637.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of GBP/USD for December 15, 2016

Following the Fed's rate hike at the December meeting, the US Dollar index had a strong bullish momentum above the 200 SMA on H1 chart and now it's heading toward the resistance level of 102.87, which is a key supply area. That could be possible to reach in the near time, as the index managed to break a sideways range. A strong support lies around 100.81.

H1 chart's resistance levels: 102.87 / 103.98
H1 chart's support levels: 101.74 / 100.81

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 101.56, take profit is at 101.93 and stop loss is at 101.18.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of GBP/JPY for December 16, 2016

GBP/JPY is expected to extend its downside movement. The pair is trading on the downside and remains capped by its descending 20-period and 50-period moving averages. The relative strength index is bearish below its neutrality level at 50. Hence, as long as 147.00 is not broken up, we favor a down move with 145.90 and then 145.50 as targets.

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 145.90. A break below this target will move the pair further downwards to 145.50. The pivot point stands at 147.00. 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 147.55 and the second one at 148.15.

Resistance levels: 147.55, 148.15, 149.00
Support levels: 145.90, 145.50, 144.65

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Gold analysis for December 16, 2016

Recently, gold has been trading sideways at the price of $1,130.80. Using the market profile, I found today's point of control at the price of $1,133.30 on the 30M time frame. The price is trading below 21SMA, which is a sign of weakness. Watch for selling opportunities.The short-term trend is bearish. The downward target is set at the price of $1,122.95.

Resistance levels:
R1: 1,139.00
R2: 1,143.65
R3: 1,151.10

Support levels:
S1: 1,124.25
S2: 1,119.70
S3: 1,112.80

Trading recommendations for today: Watch for selling opportunities on pullbacks.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of USDX for December 20, 2016

On Monday USDX was supported by the 102.56 level - a strong demand zone across the board which should help to boost buyers in coming days ahead of Christmas. The next key resistance is still placed at the 103.98 level. If the index plunges below the 102.56 mark, it can reach the support area of 101.40, which is below the 200 SMA on the H1 chart.

H1 chart's resistance levels: 103.98 / 104.69
H1 chart's support levels: 102.56 / 101.40

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 103.98, take profit is at 104.69 and stop loss is at 103.26.

News are provided by InstaForex

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for Dec 22, 2016

In Asia, Japan will not release any economic data today but the US will reveal such reports as Natural Gas Storage, Personal Income m/m, CB Leading Index m/m, Personal Spending m/m, Core PCE Price Index m/m, HPI m/m, Final GDP Price Index q/q, Durable Goods Orders m/m, Unemployment Claims, Final GDP q/q, Core Durable Goods Orders m/m .So there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Resistance. 3: 118.15.
Resistance. 2: 117.92.
Resistance. 1: 117.69.
Support. 1: 117.41.
Support. 2: 117.18.
Support. 3: 116.95.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of GBP/JPY for December 27, 2016

GBP/JPY is under pressure.

The pair has been capped by both 20-period and 50-period moving averages, while the relative strength index stays below 50.The pair holds below 144.50 and remains capped by a negative trend line. Meanwhile, the relative strength index lacks upward momentum. As long as 144.50 is not broken above, a break below 143.20 is likely.

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 143.20 and the second one at 142.80. In the alternative scenario, short positions are recommended with the first target at 144.95 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 145.30. The pivot point lies at 144.50.

Resistance levels: 144.95, 145.30, 145.50
Support levels: 143.20, 142.80, 140.15

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for Dec 29, 2016

In Asia, Japan will release the BOJ Summary of Opinions data and the US will release some Economic Data, such as Crude Oil Inventories, Natural Gas Storage, Prelim Wholesale Inventories m/m, Goods Trade Balance, and Unemployment Claims. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Resistance. 3: 117.38.
Resistance. 2: 117.15.
Resistance. 1: 116.92.
Support. 1: 116.64.
Support. 2: 116.41.
Support. 3: 116.10

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of USDX for January 03, 2017

USDX stayed above the demand zone of 101.97 as it is awaiting further momentum in order to establish a clear path in the short term. It seems that the bears are favored in the current scenario because the index is consolidated below the 200 SMA on H1 chart and a breakout below that zone should help to extend the decline towards the 101.40 level.

H1 chart's resistance levels: 102.53 / 103.15
H1 chart's support levels: 101.97 / 101.40

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 102.53, take profit is at 103.15 and stop loss is at 101.92.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for Jan 04, 2017

In Asia, Japan will release the Final Manufacturing PMI. The US will release some economic data such as FOMC Meeting Minutes and Total Vehicle Sales. 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: 118.64.
Resistance 2: 118.41.
Resistance 1: 118.18.
Support 1: 117.89.
Support 3: 117.43.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of GBP/JPY for January 05, 2017

GBP/JPY is expected to trade with a bearish bias as the key resistance is at 144.10. The pair remains capped by its descending 20-period moving average and remains on the downside. Meanwhile, the relative strength index is below 50 and lacks upward momentum. As long as 144.10 is not broken above, a break below 143.15 seems likely.

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 143.15. A break below this target will move the pair further downwards to 142.85. The pivot point stands at 144.10. If 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 144.40 and the second one at 144.95.

Resistance levels: 144.40, 144.95, 145.40
Support levels: 143.15, 142.85, 142.00

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for Jan 06, 2017

In Asia, Japan will release the Average Cash Earnings y/y. The US will release some economic data such as Factory Orders m/m, Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So there is a probability the USD/JPY pair will move with medium to high volatility during this day.

TODAY'S TECHNICAL LEVELS:
Resistance 3: 116.43.
Resistance 2: 116.21.
Resistance 1: 115.98.
Support 1: 115.70.
Support 2: 115.48.
Support 3: 115.25.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of GBP/USD for January 09, 2017

Friday was very volatile for USD-related pairs and in the case of the Sterling, GBP/USD weakened across the board to consolidate below the 200 SMA at H1 chart. The next target to the downside is located around 1.2226, where a demand zone is placed and it could help to bring some bulls force to push higher the pair. If GBP/USD gets back to the previous trend, it should break the resistance level of 1.2306 to reach the area of 1.2385.

H1 chart's resistance levels: 1.2306 / 1.2385
H1 chart's support levels: 1.2226 / 1.2176

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 1.2306, take profit is at 1.2385 and stop loss is at 1.2228.

More analysis - at [B]instaforex.com[/B]

InstaForex Gertrude · Guru

USD/CAD intraday technical levels and trading recommendations for January 10, 2017

On August 18, signs of bullish recovery were manifested around the price level of 1.2830 which led to the current bullish breakout above 1.3000.

The USD/CAD pair was trapped between the price levels of 1.3000 (61.8% Fibonacci level) and 1.3360 (50% Fibonacci level) until a bullish breakout took place one month ago.

Note that the USD/CAD pair challenged the upper limit of the depicted channel around 1.3360-1.3400 which succeeded to apply enough bearish pressure on the pair.

Shortly after, a bearish engulfing weekly candlestick was expressed by the end of the week indicating strong resistance around 1.3550.

Bearish persistence below the price level of 1.3300 (50% Fibonacci Level) was achieved. This allowed a further decline toward 1.3200 and 1.3080 (the lower limit of the depicted channel) where bullish rejection was expressed as anticipated.

A bullish breakout above 1.3360 (50% Fibonacci level) allows a bullish movement toward 1.3700-1.3750 (the upper limit of the depicted channel) where bearish rejection should be expected.

On the other hand, the current bearish pullback toward 1.3300 - 1.3250 (50% Fibonacci Level) should be watched for bullish rejection and a possible BUY entry. S/L should be placed below 1.3170.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Jan 11, 2017

When the European market opens, some Economic Data will be released, such as German 10-y Bond Auction. The US will release the economic data, too, such as 10-y Bond Auction and Crude Oil Inventories, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0610.
Strong Resistance:1.0603.
Original Resistance: 1.0593.
Inner Sell Area: 1.0583.
Target Inner Area: 1.0558.
Inner Buy Area: 1.0533.
Original Support: 1.0523.
Strong Support: 1.0513.
Breakout SELL Level: 1.0506.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of USD/CHF for January 12, 2017

USD/CHF is under pressure. The pair broke below its 20-period and 50-period moving averages and is consolidated on the downside. The declining 20-period moving average crossed below the 50-period one, which is negative. The relative strength index is below its neutrality level at 50 and lacks upward momentum.

The U.S. dollar turned to the downside in a volatile session as traders found that Trump offered little clarity on economic stimulus plans during his closely watched news conference. The ICE U.S. Dollar Index surged up to 102.95 before the news conference but reversed course and dived to 101.28, its lowest intraday level since December 14, before settling at 101.78, down 0.2% on day.

As long as 1.0160 is resistance, look for a further drop toward 1.0110 and even 1.0090 in extension.

Resistance levels: 1.0180, 1.0200, 1.0220
Support levels: 1.0100, 1.0090, 1.0055

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Jan 13, 2017

When the European market opens, there is no Economic Data will be, but the US will release the economic data, such as Federal Budget Balance, Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Core PPI m/m, Retail Sales m/m, PPI m/m and Core Retail Sales m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0660.
Strong Resistance:1.0653.
Original Resistance: 1.0643.
Inner Sell Area: 1.0633.
Target Inner Area: 1.0608.
Inner Buy Area: 1.0583.
Original Support: 1.0573.
Strong Support: 1.0563.
Breakout SELL Level: 1.0556.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for January 16, 2017

USD/JPY is Under pressure. The pair pulled back last Friday, and is now testing its nearest support at 114.00. The risk of a slide below this level remains high, as the relative strength index is badly directed, without showing any reversal signals.

The U.S. dollar showed some signs of rebounding energy upon the release of economic data. However, the upward momentum proved unsustainable. The ICE U.S. Dollar Index finally ended at 101.18 (day-high at 101.67), down 0.2% on day and extending its losing streak to a third session.

In which case, as long as 114.80 holds on the upside, further decline seems to be on the cards toward 113.75 (Jan 12 low).

Recommendation:

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 113.75. A break below this target will move the pair further downwards to 113.40. The pivot point stands at 114.65. If 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 115.20 and the second one at 115.65.

Resistance levels: 115.20, 156.65, 116.05

Support levels: 113.75, 113.40, 113.00

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Elliott wave analysis of EUR/NZD for January 17, 2017

Wave summary:
We continue to look for evidence that the double zig-zag correction from 1.5235 is complete. The first solid evidence, will be a break above minor resistance at 1.5007, while a break above resistance at 1.5193 confirms that the wave iii/ higher toward 1.5837 and above longer term has taken over. That said, we have to acknowledge the risk of a third zig-zag unfolding. If this is the case, then more downside toward 1.4778 could be seen before the next impulsive rally finally takes over.

R3: 1.5193
R2: 1.5050
R1: 1.5007
Pivot: 1.4895
S1: 1.4841
S2: 1.4810
S3: 1.4778

Trading recommendation:
We will only buy a break above 1.500

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Jan 18, 2017

When the European market opens, some Economic Data will be released, such as Final Core CPI y/y, Final CPI y/y and German Final CPI m/m. The US will release the economic data, too, such as TIC Long-Term Purchases, Beige Book, NAHB Housing Market Index, Industrial Production m/m, Capacity Utilization Rate, Core CPI m/m, CPI m/m and the Fed Chair Yellen Speaks, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0762.
Strong Resistance:1.0756.
Original Resistance: 1.0745.
Inner Sell Area: 1.0734.
Target Inner Area: 1.0709.
Inner Buy Area: 1.0684.
Original Support: 1.0673.
Strong Support: 1.0662.
Breakout SELL Level: 1.0656.

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InstaForex Gertrude · Guru

Technical analysis of USD/JPY for Jan 19, 2017

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

TODAY'S TECHNICAL LEVEL:
Resistance. 3: 115.28.
Resistance. 2: 115.05.
Resistance. 1: 114.83.
Support. 1: 114.55.
Support. 2: 114.32.
Support. 3: 114.10.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Jan 23, 2017

When the European market opens, some Economic Data will be released, such as Consumer Confidence. Today, the US will not release any economic data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0775.
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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InstaForex Gertrude · Guru

NZD/USD Intraday technical levels and trading recommendations for January 24, 2017

On November 8, significant signs of a bearish reversal were expressed around the upper limit of the depicted consolidation range (0.7350).
A bearish breakdown of 0.7250 (the lower limit of the depicted range) enhanced the bearish side of the market toward the price level of 0.7100 (recent bottom of October 28) which was broken as well.
Bearish persistence below 0.7100 allowed a quick decline toward 0.6960 (BUY zone) where bullish rejection and a valid BUY entry were expected. All T/P levels were successfully achieved.
Once again, bearish persistence below the price level of 0.7100 enabled the NZD/USD pair to pursue toward lower target levels around 0.6990 (the upper limit of the depicted BUY zone).
The price level of 0.6990 failed to apply enough bullish pressure. Instead of that, bearish movement continued toward the lower limit of the depicted BUY zone (0.6860) which provided significant bullish rejection on December 23.
The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.
A bullish breakout above 0.7000 allowed the pair to head toward the price level of 0.7100 (Key-Level) which failed to provide sufficient bearish pressure on the pair.
Instead, bullish persistence above 0.7100 (Key-Level) allows further bullish advance toward 0.7250 (SELL-ENTRY) where bearish rejection and a valid SELL entry can be offered.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Jan 25, 2017

When the European market opens, some Economic Data will be released, such as Belgian NBB Business Climate, German 30-y Bond Auction and German Ifo Business Climate. The US will release the economic data, too, such as Crude Oil Inventories and HPI m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0784.
Strong Resistance:1.0778.
Original Resistance: 1.0767.
Inner Sell Area: 1.0756.
Target Inner Area: 1.0731.
Inner Buy Area: 1.0706.
Original Support: 1.0695.
Strong Support: 1.0684.
Breakout SELL Level: 1.0678.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Jan 26, 2017

When the European market opens, some Economic Data will be released, such as Italian 10-y Bond Auction, Italian Retail Sales m/m, GfK German Consumer Climate and Spanish Unemployment Rate. The US will release the economic data, too, such as Natural Gas Storage, CB Leading Index m/m, New Home Sales, Flash Services PMI, Prelim Wholesale Inventories m/m, Goods Trade Balance and 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: 1.0816.
Strong Resistance:1.0810.
Original Resistance: 1.0799.
Inner Sell Area: 1.0788.
Target Inner Area: 1.0763.
Inner Buy Area: 1.0738.
Original Support: 1.0727.
Strong Support: 1.0716.
Breakout SELL Level: 1.0710.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Jan 27, 2017

When the European market opens, some Economic Data will be released, such as Private Loans y/y and M3 Money Supply y/y. The US will release the economic data, too, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Durable Goods Orders m/m, Advance GDP Price Index q/q, Core Durable Goods Orders m/m, and Advance GDP q/q, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0735.
Strong Resistance:1.0728.
Original Resistance: 1.0718.
Inner Sell Area: 1.0708.
Target Inner Area: 1.0683.
Inner Buy Area: 1.0658.
Original Support: 1.0648.
Strong Support: 1.0638.
Breakout SELL Level: 1.0631

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InstaForex Gertrude · Guru

Daily analysis of USDX for January 30, 2017

The index stayed in a sideways range around the 200 SMA at H1 chart, looking to reach the resistance level of 101.43, as it already found a bottom at the 100.00 psychological zone across the board. If USDX manages to break above that resistance, we can expect a bullish week that put us in focus to target the 102.39 level as the next key area to the upside.

H1 chart's resistance levels: 101.43 / 102.39
H1 chart's support levels: 100.01 / 98.98

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 100.01, take profit is at 98.98 and stop loss is at 101.03.

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InstaForex Gertrude · Guru

Daily analysis of GBP/USD for January 31, 2017

GBP/USD weakened across the board during Monday's session and it's challenging the 200 SMA at H1 chart, where another bullish momentum can be seen. However, recent Brexit's developments couldn't help to lift the Sterling, in order to reach new highs in the short-term. However, if the pair plummets to 1.2420 and breaks it to the downside, then we can expect another decline toward 1.2294.

H1 chart's resistance levels: 1.2534 / 1.2645
H1 chart's support levels: 1.2420 / 1.2294

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 1.2534, take profit is at 1.2645 and stop loss is at 1.2421.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Feb 02, 2017

When the European market opens, some Economic Data will be released, such as French 10-y Bond Auction, PPI m/m, ECB Economic Bulletin, and Spanish Unemployment Change. The US will release the economic data, too, such as Natural Gas Storage, Prelim Unit Labor Costs q/q, Prelim Nonfarm Productivity q/q, Unemployment Claims, and Challenger Job Cuts y/y, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0846.

Strong Resistance:1.0839.

Original Resistance: 1.0827.

Inner Sell Area: 1.0815.

Target Inner Area: 1.0787.

Inner Buy Area: 1.0758.

Original Support: 1.0746.

Strong Support: 1.0734.

Breakout SELL Level: 1.0727.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Feb 07, 2017

When the European market opens, some Economic Data will be released, such as Sentix Investor Confidence, Retail PMI, and German Factory Orders m/m. The US will release the economic data, too, such as Loan Officer Survey, Labor Market Conditions Index m/m, and Mortgage Delinquencies, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0835.
Strong Resistance:1.0828.
Original Resistance: 1.0818.
Inner Sell Area: 1.0808.
Target Inner Area: 1.0783.
Inner Buy Area: 1.0758.
Original Support: 1.0748.
Strong Support: 1.0738.
Breakout SELL Level: 1.0731.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Feb 09, 2017

When the European market opens, some Economic Data will be released, such as German Trade Balance. The US will release the economic data, too, such as 30-y Bond Auction, Natural Gas Storage, Final Wholesale Inventories m/m, and 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: 1.0738.
Strong Resistance:1.0731.
Original Resistance: 1.0721.
Inner Sell Area: 1.0711.
Target Inner Area: 1.0686.
Inner Buy Area: 1.0661.
Original Support: 1.0651.
Strong Support: 1.0641.
Breakout SELL Level: 1.0634.

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InstaForex Gertrude · Guru

Technical analysis of USD/JPY for Feb 10, 2017

In Asia, Japan will release the Tertiary Industry Activity m/m and PPI y/y data, and the US will release some Economic Data, such as Federal Budget Balance, Prelim UoM Inflation Expectation, Prelim UoM Consumer Sentiment, and Import Prices m/m. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Resistance. 3: 114.27.
Resistance. 2: 114.05.
Resistance. 1: 113.82.
Support. 1: 113.55.
Support. 2: 113.32.
Support. 3: 113.10.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Feb 13, 2017

When the European market opens, some Economic Data will be released, such as German Buba Monthly Report and German WPI m/m. Today, the US will not release any economic data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0672.
Strong Resistance:1.0665.
Original Resistance: 1.0655.
Inner Sell Area: 1.0645.
Target Inner Area: 1.0620.
Inner Buy Area: 1.0595.
Original Support: 1.0585.
Strong Support: 1.0575.
Breakout SELL Level: 1.0568.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Feb 14, 2017

When the European market opens, some Economic Data will be released, such as EU Economic Forecasts, ZEW Economic Sentiment, Industrial Production m/m, German ZEW Economic Sentiment, Flash GDP q/q, Italian Prelim GDP q/q, German Final CPI m/m and German Prelim GDP q/q. The US will release the economic data, too, such as Core PPI m/m, PPI m/m, NFIB Small Business 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: 1.0651.
Strong Resistance:1.0644.
Original Resistance: 1.0634.
Inner Sell Area: 1.0624.
Target Inner Area: 1.0599.
Inner Buy Area: 1.0574.
Original Support: 1.0564.
Strong Support: 1.0554.
Breakout SELL Level: 1.0547.

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InstaForex Gertrude · Guru

Daily analysis of USDX for February 15, 2017

USDX got a bullish momentum during Tuesday's session after Yellen's speech at a Senate committee. It's now testing the resistance zone of 101.40, where a breakout should deliver more bullish bias toward 102.39, in an effort to strengthen the bullish scenario for the short-term. If the index does a pullback at the current stage, then we can expect a decline to test the 100.00 handle.

H1 chart's resistance levels: 101.43 / 102.38
H1 chart's support levels: 100.01 / 98.98

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 100.01, take profit is at 98.98 and stop loss is at 101.03.

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InstaForex Gertrude · Guru

Daily analysis of GBP/USD for February 16, 2017

The pair was trading in a bearish tone during Wednesday's session, consolidating its price action below the 200 SMA at H1 chart and that should be giving us a hint of further declines in the short-term. If GBP/USD manages to break below the support zone of 1.2414, then we can expect another bearish advance toward 1.2360. MACD indicator is entering the positive territory, favoring to a possible recovery in the Cable.

H1 chart's resistance levels: 1.2480 / 1.2561
H1 chart's support levels: 1.2414 / 1.2360

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 1.2480, take profit is at 1.2561 and stop loss is at 1.2398.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Feb 20, 2017

When the European market opens, some Economic Data will be released, such as Consumer Confidence and German PPI m/m. The US today will not release any Economic Data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0669.
Strong Resistance:1.0662.
Original Resistance: 1.0652.
Inner Sell Area: 1.0642.
Target Inner Area: 1.0617.
Inner Buy Area: 1.0592.
Original Support: 1.0582.
Strong Support: 1.0572.
Breakout SELL Level: 1.0565.

More analysis - at instaforex.com