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Wave Analysis by InstaForex

InstaForex Gertrude · Guru

Elliott wave analysis of EUR/NZD for February 22, 2017

Wave summary:

We still need a firm break above important resistance seen at 1.4866 to confirm that a long-term low is in place with the test of 1.4495 and a new long-term impulsive rally has begun. Short term, we need to accept a more complex wave [ii] correction unfolding to just below 1.4618 as long as important resistance at 1.4866 holds firm. Under no circumstances can a break below 1.4495 be allowed under this count.

R3: 1.4955

R2: 1.4866

R1: 1.4803

Pivot: 1.4718

S1: 1.4661

S2: 1.4610

S3: 1.4571

Trading recommendation:

We are long EUR from 1.4840 with stop placed at 1.4490. If you are not long EUR yet, then buy a break above 1.4866 and use the same stop at 1.4490.

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InstaForex Gertrude · Guru

Technical analysis of NZD/USD for February 23, 2017

NZD/USD is expected to trade in a higher range. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Additionally, 0.7175 is playing a key support role, which should limit the downside potential. As long as this key level is not broken, look for a further upside toward 0.7220 and even 0.7235 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.7220 and the second one at 0.7235. In the alternative scenario, short positions are recommended with the first target at 0.7145, 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 0.7125. The pivot point is at 0.7175.

Resistance levels: 0.7220, 0.7235, and 0.7260
Support levels: 0.7145, 0.7125, and 0.7070

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Feb 27, 2017

When the European market opens, some Economic Data will be released, such as Italian 10-y Bond Auction, Private Loans y/y, M3 Money Supply y/y and Spanish Flash CPI y/y. The US will release the economic data, too, such as Pending Home Sales m/m, Durable Goods Orders m/m and Core Durable Goods Orders 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: 1.0615.
Strong Resistance:1.0608.
Original Resistance: 1.0598.
Inner Sell Area: 1.0588.
Target Inner Area: 1.0563.
Inner Buy Area: 1.0538.
Original Support: 1.0528.
Strong Support: 1.0518.
Breakout SELL Level: 1.0511.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Feb 28, 2017

When the European market opens, some Economic Data will be released, such as Italian Prelim CPI m/m, French Prelim GDP q/q, French Prelim CPI m/m and French Consumer Spending m/m. The US will release the economic data, too, such as Richmond Manufacturing Index, CB Consumer Confidence, Chicago PMI, S&P/CS Composite-20 HPI y/y, Prelim Wholesale Inventories m/m, Prelim GDP Price Index q/q, Goods Trade Balance and Prelim 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: 1.0631.
Strong Resistance:1.0624.
Original Resistance: 1.0614.
Inner Sell Area: 1.0604.
Target Inner Area: 1.0579.
Inner Buy Area: 1.0554.
Original Support: 1.0544.
Strong Support: 1.0534.
Breakout SELL Level: 1.0527.

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InstaForex Gertrude · Guru

Technical analysis of GBP/JPY for March 02, 2017

GBP/JPY is expected to trade in higher range. The pair resumed its up trend after the recent bullish breakout of its key level at 139.50. The previous resistance now plays a strong support role, which should limit any downward attempts. In addition, the 50-period moving average is heading upward, and should continue to push the prices higher.

In these perspectives, as long as 139.50 holds on the downside, further advance seems to be on the cards to 140.38 and 141.20 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 140.80 and the second one at 141.20. In the alternative scenario, short positions are recommended with the first target at 138.90, if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 138.50. The pivot point is at 139.50.

Resistance levels: 140.80, 141.20, and 142.00
Support levels: 138.90,138.50, and 138.00

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 03, 2017

When the European market opens, some Economic Data will be released, such as Retail Sales m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI and German Retail Sales m/m. The US will release the economic data, too, such as ISM Non-Manufacturing PMI and Final Services PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0567.
Strong Resistance:1.0560.
Original Resistance: 1.0550.
Inner Sell Area: 1.0540.
Target Inner Area: 1.0515.
Inner Buy Area: 1.0490.
Original Support: 1.0480.
Strong Support: 1.0470.
Breakout SELL Level: 1.0463.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 06, 2017

When the European market opens, some Economic Data will be released, such as Sentix Investor Confidence and Retail PMI. The US will release the economic data, too, such as Factory Orders 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: 1.0662.
Strong Resistance:1.0655.
Original Resistance: 1.0645.
Inner Sell Area: 1.0635.
Target Inner Area: 1.0610.
Inner Buy Area: 1.0585.
Original Support: 1.0575.
Strong Support: 1.0565.
Breakout SELL Level: 1.0558.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 07, 2017

When the European market opens, some Economic Data will be released, such as Revised GDP q/q, French Gov Budget Balance and German Factory Orders m/m. The US will release the economic data, too, such as Consumer Credit m/m, IBD/TIPP Economic Optimism and 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: 1.0626.
Strong Resistance:1.0619.
Original Resistance: 1.0609.
Inner Sell Area: 1.0599.
Target Inner Area: 1.0574.
Inner Buy Area: 1.0549.
Original Support: 1.0539.
Strong Support: 1.0529.
Breakout SELL Level: 1.0522.

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InstaForex Gertrude · Guru

NZD/USD intraday technical levels and trading recommendations for March 8, 2017

On December 16, the price level of 0.6960 failed to apply enough bullish pressure. Instead, 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 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (Key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed further bullish advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action should be expected.

Bearish persistence below 0.7250 is needed to allow further bearish decline toward 0.7100 (note the previous bearish DAILY candlesticks expressed within the SELL-Zone).

As anticipated, bearish persistence below 0.7100 (Key-Level) allows further bearish movement toward 0.6960 where bullish rejection should be watched for a possible BUY entry.

On the other hand, any bullish pullback towards 0.7100 should be watched for a valid SELL entry if enough bearish rejection is expressed.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 09, 2017

When the European market opens, some Economic Data will be released, such as Minimum Bid Rate and French Final Non-Farm Payrolls q/q. The US will release the economic data, too, such as Natural Gas Storage, Import Prices m/m, Unemployment Claims and Challenger Job Cuts y/y, so, amid the reports, EUR/USD will move in a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0588.
Strong Resistance:1.0581.
Original Resistance: 1.0571.
Inner Sell Area: 1.0561.
Target Inner Area: 1.0536.
Inner Buy Area: 1.0511.
Original Support: 1.0501.
Strong Support: 1.0491.
Breakout SELL Level: 1.0484.

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InstaForex Gertrude · Guru

Elliott wave analysis of EUR/JPY for March 10, 2017

Wave summary:
EUR/JPY continues to higher toward the next upside target seen at 122.90 on the way higher to 124.20 and possibly even closer to 125.53 before wave 3 is complete. Short-term, we will ideally see minor support at 121.89 being able to protect the downside for the continuation higher to 122.90 and above.

R3: 122.90
R2: 122.53
R1: 122.25
Pivot: 122.00
S1: 121.89
S2: 121.75
S3: 121.25

Trading recommendation: WE are long EUR from 119.86 and will move our stop higher to 121.20. If you are not long EUR yet, then buy near 121.89 and use the same stop.

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InstaForex Gertrude · Guru

Daily analysis of USDX for March 13, 2017

USDX continues to find support around 101.39, while it's trying to consolidate below the 200 SMA at H1 chart. If the index does a rebound at the current stage, it can test the 102.39 level and such move could possibly strengthen the bullish bias in the short-term. However, if USDX plummets below 101.39, it can reach the 100.44 level.

H1 chart's resistance levels: 102.39 / 103.40
H1 chart's support levels: 101.39 / 100.44

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 102.39, take profit is at 103.40 and stop loss is at 101.35.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 14, 2017

When the European market opens, some Economic Data will be released, such as ZEW Economic Sentiment, Industrial Production m/m, German ZEW Economic Sentiment, and German Final CPI m/m. The US will release the economic data, too, such as Core PPI m/m, PPI m/m, and 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: 1.0701.
Strong Resistance:1.0694.
Original Resistance: 1.0684.
Inner Sell Area: 1.0674.
Target Inner Area: 1.0649.
Inner Buy Area: 1.0624.
Original Support: 1.0614.
Strong Support: 1.0604.
Breakout SELL Level: 1.0597.

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InstaForex Gertrude · Guru

Technical analysis of USD/JPY for March 15, 2017 USD/JPY is under pressure. The pair is trading below its 50-period moving average and is testing the 20-period one. The relative strength index is below its neutrality level at 50. Additionally, 115.25 is playing a key resistance role, which should limit the upside potential. As long as this key level holds on the upside, look for a further drop toward 114.60 and even 114.25 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 114.60. A break below this target will move the pair further downwards to 114.25. The pivot point stands at 115.25. 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 115.50 and the second one at 115.75. Resistance levels: 115.50, 116.00, and 116.45 Support levels: 114.25, 113.80, and 113.35 More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 16, 2017

When the European market opens, some Economic Data will be released, such as Final Core CPI y/y, and Final CPI y/y. The US will release the economic data, too, such as Natural Gas Storage, JOLTS Job Openings, Housing Starts, Unemployment Claims, Philly Fed Manufacturing Index, and Building Permits, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0789.
Strong Resistance:1.0783.
Original Resistance: 1.0772.
Inner Sell Area: 1.0761.
Target Inner Area: 1.0736.
Inner Buy Area: 1.0711.
Original Support: 1.0700.
Strong Support: 1.0689.
Breakout SELL Level: 1.0683.

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InstaForex Gertrude · Guru

Technical analysis of USD/JPY for March 20, 2017

USD/JPY is expected to prevail its downside movement. The pair is trading below its declining 20-period and 50-period moving averages, which play resistance roles and maintain the downside bias, and is consolidating on the downside. The relative strength index is below its neutrality level at 50 and lacks upward momentum.

As long as 113.00 holds on the upside, look for a further drop toward 112.05 and even 111.65 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 112.05. A break below this target will move the pair further downwards to 111.65. The pivot point stands at 113.00. 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 113.50 and the second one at 114.00.

Resistance levels: 113.50, 114.00, and 114.45
Support levels: 112.05, 111.65, and 111.25

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of GBP/JPY for March 21, 2017

GBP/JPY is expected to trade in the lower range. The pair remains capped by its descending 20-period moving average, which has again crossed below the 50-period moving average. Meanwhile, the relative strength index stays below its neutrality area at 50 and has broken down the 30 level. The intraday trend remains negative.

As long as 139.80 holds as the key resistance, expect a drop to the nearest support at 138.85 at first. A break below 138.85 allows for the further drop to 138.55 as 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 138.85. A break below this target will move the pair further downwards to 138.55. The pivot point stands at 139.80. 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 140.20 and the second one at 140.50.

Resistance levels: 140.20, 140.50, and 140.95
Support levels: 138.85,138.55, and 138.00

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of GBP/JPY for March 22, 2017

GBP/JPY is under pressure. The pair is still capped by its descending 20-period moving average, which has crossed below the 50-period moving average. Meanwhile, the relative strength index stays below its neutrality area at 50 and lacks upward momentum. The intraday trend remains negative.

As long as 139.85 holds as the key resistance, expect a drop to the nearest support at 138.85 at first. A break below 138.85 allows for the further drop to 138.55 as 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 138.85. A break below this target will move the pair further downwards to 138.55. The pivot point stands at 139.80. 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 140.20 and the second one at 140.50.

Resistance levels: 140.20, 140.50, and 140.95
Support levels: 138.85,138.55, and 138.00

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 23, 2017

When the European market opens, some Economic Data will be released, such as Consumer Confidence, Belgian NBB Business Climate, ECB Economic Bulletin, and GfK German Consumer Climate. The US will release the Economic Data, too, such as Natural Gas Storage, New Home Sales, 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: 1.0841.
Strong Resistance:1.0835.
Original Resistance: 1.0824.
Inner Sell Area: 1.0813.
Target Inner Area: 1.0788.
Inner Buy Area: 1.0763.
Original Support: 1.0752.
Strong Support: 1.0741.
Breakout SELL Level: 1.0735.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 27, 2017

When the European market opens, some Economic Data will be released, such as Private Loans y/y, M3 Money Supply y/y, and German Ifo Business Climate. 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: 1.0897.
Strong Resistance:1.0891.
Original Resistance: 1.0880.
Inner Sell Area: 1.0869.
Target Inner Area: 1.0844.
Inner Buy Area: 1.0819.
Original Support: 1.0808.
Strong Support: 1.0797.
Breakout SELL Level: 1.0791.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

NZD/USD intraday technical levels and trading recommendations for March 28, 2017

The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected.

Bearish persistence below 0.7250 allowed further decline toward 0.7100 then 0.6960 which failed to provide enough support for the pair.

That is why further bearish fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, the bullish breakout above the depicted key level (0.6960) was achieved. That is why any bearish pullback toward 0.6960 should be watched for bullish rejection and a possible BUY entry.

On the other hand, the price level of 0.7100 remains a significant key level to be watched for bearish price action if the current bullish pullback persists above 0.7040.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 29, 2017

When the European market opens, some Economic Data will be released, such as German Import Prices m/m. The US will release the Economic Data, too, such as Crude Oil Inventories, Pending Home 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: 1.0869.
Strong Resistance:1.0863.
Original Resistance: 1.0852.
Inner Sell Area: 1.0841.
Target Inner Area: 1.0816.
Inner Buy Area: 1.0791.
Original Support: 1.0780.
Strong Support: 1.0769.
Breakout SELL Level: 1.0763.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for Mar 30, 2017

In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data, such as Natural Gas Storage, Final GDP Price Index q/q, Unemployment Claims, and Final GDP q/q. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Resistance. 3: 111.94.
Resistance. 2: 111.72.
Resistance. 1: 111.50.
Support. 1: 111.24.
Support. 2: 111.02.
Support. 3: 110.80.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Mar 31, 2017

When the European market opens, some Economic Data will be released, such as Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, German Unemployment Change, French Prelim CPI m/m, French Consumer Spending m/m, and German Retail Sales m/m. The US will release the Economic Data, too, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index 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: 1.0738.
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.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 03, 2017

When the European market opens, some Economic Data will be released, such as Unemployment Rate, PPI m/m, Italian Monthly Unemployment Rate, Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. The US will release the Economic Data, too, such as Total Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0720.
Strong Resistance:1.0713.
Original Resistance: 1.0703.
Inner Sell Area: 1.0693.
Target Inner Area: 1.0668.
Inner Buy Area: 1.0643.
Original Support: 1.0633.
Strong Support: 1.0623.
Breakout SELL Level: 1.0616.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 04, 2017

When the European market opens, some Economic Data will be released, such as Retail Sales m/m, and Spanish Unemployment Change. The US will release the Economic Data, too, such as IBD/TIPP Economic Optimism, Factory Orders m/m, and 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: 1.0720.
Strong Resistance:1.0713.
Original Resistance: 1.0703.
Inner Sell Area: 1.0693.
Target Inner Area: 1.0668.
Inner Buy Area: 1.0643.
Original Support: 1.0633.
Strong Support: 1.0623.
Breakout SELL Level: 1.0616.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 05, 2017

When the European market opens, some Economic Data will be released, such as Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI. The US will release the Economic Data, too, such as FOMC Meeting Minutes, Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change, so, amid the reports, EUR/USD will move in a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0730.
Strong Resistance:1.0723.
Original Resistance: 1.0713.
Inner Sell Area: 1.0703.
Target Inner Area: 1.0678.
Inner Buy Area: 1.0653.
Original Support: 1.0643.
Strong Support: 1.0633.
Breakout SELL Level: 1.0626.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 06, 2017

When the European market opens, some Economic Data will be released, such as ECB Monetary Policy Meeting Accounts, French 10-y Bond Auction, Spanish 10-y Bond Auction, Retail PMI, and German Factory Orders m/m. The US will release the Economic Data, too, such as Natural Gas Storage, 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: 1.0722.
Strong Resistance:1.0715.
Original Resistance: 1.0705.
Inner Sell Area: 1.0695.
Target Inner Area: 1.0670.
Inner Buy Area: 1.0645.
Original Support: 1.0635.
Strong Support: 1.0625.
Breakout SELL Level: 1.0618.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Elliott wave analysis of EUR/NZD for April 10 - 2017

Wave summary:
EUR/NZD is not really doing anything at the moment. We continue to look for a break above 1.5347 as the go-signal for renewed upside pressure towards 1.5570 and possibly even closer to 1.5792 target. That said, support at 1.5151 will need to be able to protect the downside or a deeper correction closer to 1.5108 and possibly even closer to 1.4874 could be seen.

R3: 1.5457
R2: 1.5347
R2: 1.5312
Pivot: 1.5260
S1: 1.5183
S2: 1.5151
S3: 1.5108

Trading recommendation:
We are long EUR from 1.5235 we will move our stop higher to 1.5095. If you are not long EUR yet, then buy a break above 1.5347 and start by using the same stop.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 11, 2017

When the European market opens, some Economic Data will be released, such as ZEW Economic Sentiment, Industrial Production m/m, and German ZEW Economic Sentiment. The US will release the Economic Data, too, such as 10-y Bond Auction, JOLTS Job Openings, and 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: 1.0649.
Strong Resistance:1.0642.
Original Resistance: 1.0632.
Inner Sell Area: 1.0622.
Target Inner Area: 1.0597.
Inner Buy Area: 1.0572.
Original Support: 1.0562.
Strong Support: 1.0552.
Breakout SELL Level: 1.0545.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 12, 2017

When the European market opens, some Economic Data will be released, such as German 10-y Bond Auction, and German WPI m/m. The US will release the Economic Data, too, such as Federal Budget Balance, 30-y Bond Auction, Crude Oil Inventories, and Import Prices 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 EUR/USD for Apr 13, 2017

When the European market opens, some Economic Data will be released, such as French Final CPI m/m, and German Final CPI m/m. The US will release the Economic Data, too, such as Natural Gas Storage, Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, Core PPI m/m, Unemployment Claims, and PPI 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: 1.0722.
Strong Resistance:1.0715.
Original Resistance: 1.0705.
Inner Sell Area: 1.0695.
Target Inner Area: 1.0670.
Inner Buy Area: 1.0645.
Original Support: 1.0635.
Strong Support: 1.0625.
Breakout SELL Level: 1.0618.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 17, 2017

When the European market opens, today, there is no Economic Data will be released. The US will release the Economic Data, too, such as NAHB Housing Market Index, and Empire State Manufacturing 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: 1.0660.
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

Elliott wave analysis of EUR/JPY for April 19, 2017

Wave summary: EUR/JPY has now spiked to resistance at 116.55 indicating that a low is in place at 114.82 and a new rally to above 124.09 should be expected. Short term, we should expect a minor set-back towards 115.70 before the next impulsive rally higher towards 118.25. Above here, it will confirm the low has been seen and confirm a rally back to 122.88 and 124.09 on the way higher.

R3: 117.47
R2: 116.85
R1: 116.61
Pivot: 116.40
S1: 116.24
S2: 115.94
S3: 115.72

Trading recommendation:
We are long EUR from 115.25 with stop placed at 114.75. If you are not long EUR yet, then buy near 115.72 and use the same stop at 114.75.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

USD/CAD Fundamental Analysis April 20, 2017

USD/CAD is currently going through a good amount of volatility in the market. There had been bearish impulsive movement with a great pressure which was recently taken out by bullish impulsive moves. We have observed price exhaustions for several times in this pair and currently sentimental confusion going on in USD/CAD. Yesterday CAD Gov. Council Member Wilkins spoke about the key interest rates and monetary policy which did not provide any positive outcome for the currency, as a result USD gained a good amount of strength closing above 1.3450 yesterday. On the USD side, today market is expected to be quite volatile as important economic events like Philly Fed Manufacturing Index is going to be published which is expected to be at 25.6 which previously was at 32.8 and along with it Unemployment Claims report is going to be published which is expected to show an increase to 241K which previously was at 234K. If USD news comes positive today, we might see the pair climbing up much higher in the coming days.

Now let us look at the technical view, the price has again managed to enter the channel area with a daily close above 1.3450. As of the bullish impulsive pressure and taking out the prior swing on the upside, it is expected that the price will move towards 1.3535-50 resistance area and if the resistance area is taken out with a daily close then we will be looking forward to further upside movement towards 1.40.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 21, 2017

When the European market opens, some Economic Data will be released, such as Current Account, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will release the Economic Data, too, such as Existing Home Sales, Flash Services PMI, and Flash Manufacturing PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0765.
Strong Resistance:1.0759.
Original Resistance: 1.0748.
Inner Sell Area: 1.0737.
Target Inner Area: 1.0712.
Inner Buy Area: 1.0687.
Original Support: 1.0676.
Strong Support: 1.0665.
Breakout SELL Level: 1.0659.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

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

The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed a further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected. Bearish persistence below 0.7250 allowed a further decline toward 0.7100 then 0.6960 which failed to provide enough support for the pair.

That is why a further fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, a bullish breakout was achieved above the depicted key level (0.6960).

That is why the recent bearish pullback toward 0.6960 offered significant bullish rejection and a valid BUY entry which is running in profits now.

Note the depicted bullish 1-2-3 pattern with projection target around 0.7250 provided that bullish fixation above 0.7080-0.7100 (neckline) is achieved on a daily basis.

On the other hand, the price level of 0.7100 remains a significant key level to prevent a further bullish advance toward 0.7250.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 25, 2017

When the European market opens, some Economic Data will be released, such as Belgian NBB Business Climate. The US will release the Economic Data, too, such as Richmond Manufacturing Index, New Home Sales, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, 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: 1.0918.
Strong Resistance:1.0912.
Original Resistance: 1.0901.
Inner Sell Area: 1.0890.
Target Inner Area: 1.0865.
Inner Buy Area: 1.0840.
Original Support: 1.0829.
Strong Support: 1.0818.
Breakout SELL Level: 1.0812.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for April 26, 2017

USD/JPY is expected to prevail its upside movement. The pair recorded a succession of higher tops and higher bottoms since April 25 and is holding on the upside. The rising 50-period moving average maintains the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum.

As long as 110.55 holds on the downside, look for a further advance toward 111.30 and even 111.60 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 111.60 and the second one at 112.00. In the alternative scenario, short positions are recommended with the first target at 110.30 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 109.95. The pivot point is at 110.65.

Resistance levels: 111.60, 112.00, and 112.45
Support levels: 110.30, 109.95, and 109.50

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for Apr 27, 2017

When the European market opens, some Economic Data will be released such as Minimum Bid Rate, Italian 10-y Bond Auction, Spanish Unemployment Rate, Spanish Flash CPI y/y, German Prelim CPI m/m, and GfK German Consumer Climate. The US will release the Economic Data, too, such as Natural Gas Storage, Pending Home Sales m/m, Prelim Wholesale Inventories m/m, Goods Trade Balance, Durable Goods Orders m/m, Unemployment Claims, and Core Durable Goods Orders 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: 1.0960.
Strong Resistance:1.0954.
Original Resistance: 1.0943.
Inner Sell Area: 1.0932.
Target Inner Area: 1.0907.
Inner Buy Area: 1.0882.
Original Support: 1.0871.
Strong Support: 1.0860.
Breakout SELL Level: 1.0854.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for May 03, 2017

In Asia, today Japan will not release any economic data. However, the US will release a series of fundamental data such as Federal Funds Rate, FOMC Statement, Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change. So there is a probability the USD/JPY pair will move with medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance 3: 112.61.

Resistance 2: 112.39.

Resistance 1: 112.17.

Support 1: 111.90.

Support 2: 111.63.

Support 3: 111.46.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for May 4, 2017

USD/JPY is expected to prevail its upside movement. The technical picture of the pair is positive above a rising trend line, which emerged on May 3, and is holding on the upside. The rising 20-period and 50-period moving averages are playing support roles and maintain the upside bias. The relative strength index is supported by a bullish trend line and is above its neutrality level at 50.

As long as 112.25 holds on the downside, look for a further advance toward 113.15 and even 113.40 in extension. The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 113.15 and the second one at 113.40. In the alternative scenario, short positions are recommended with the first target at 111.95 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 111.75. The pivot point lies at 112.25.

Resistance levels: 113.15, 113.40, and 113.85
Support levels: 111.95, 111.75, and 111.20

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InstaForex Gertrude · Guru

Daily analysis of GBP/USD for May 05, 2017

GBP/USD managed to rebound above the 200 SMA on H1 chart amid a broad-based weakness in the US Dollar. The pair is still trapped in a range established since April 28th. Now the pair aims to test the resistance zone of 1.2957 once again. If it manages to break above that area, we can expect further advances toward the 1.3029 level.

H1 chart's resistance levels: 1.2957 / 1.3029
H1 chart's support levels: 1.2855 / 1.2652

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 1.2957, take profit is at 1.3029 and stop loss is at 1.2887.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

GBP/USD above strong support, prepare to buy on dips

Price is above major support at 1.2861 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect price to make a bounce above this level towards 1.2988 resistance

(Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is also seeing strong support above the 13% area where we expect further bullish action from.

Buy above 1.2861. Stop loss at 1.2798. Take profit at 1.2988.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for May 29, 2017

When the European market opens, some Economic Data will be released, such as Private Loans y/y and M3 Money Supply y/y. 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: 1.1226.
Strong Resistance:1.1220.
Original Resistance: 1.1209.
Inner Sell Area: 1.1198.
Target Inner Area: 1.1172.
Inner Buy Area: 1.1147.
Original Support: 1.1136.
Strong Support: 1.1125.
Breakout SELL Level: 1.1119.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Daily analysis of USDX for May 30, 2017

The index remained in sideways during the Memorial Day in the United States, capped by the 200 SMA at H1 chart. The bears are still strong across the greenback and we can expect some declines towards 96.90. However, if USDX manages to break above the 200 SMA, it's expected to see a rally that tests the resistance area of 98.11.

H1 chart's resistance levels: 97.41 / 98.11
H1 chart's support levels: 96.90 / 96.25

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 96.90, take profit is at 96.25 and stop loss is at 97.56.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for May 31, 2017

When the European market opens, some Economic Data will be released, such as Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, German Unemployment Change, French Prelim CPI m/m, and German Retail Sales m/m. The US will release the Economic Data, too, such as Beige Book, Pending Home Sales m/m, and Chicago PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1225.
Strong Resistance:1.1219.
Original Resistance: 1.1208.
Inner Sell Area: 1.1197.
Target Inner Area: 1.1171.
Inner Buy Area: 1.1145.
Original Support: 1.1134.
Strong Support: 1.1123.
Breakout SELL Level: 1.1117.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Daily analysis of USDX for June 01, 2017

The index is finding support around 96.00, as the bears continue to keep pressure the greenback in the short-term. Once it manages to break below the 96.90 level, then we might see some declines to take place towards 96.25. However, if USDX does a consolidation above the 200 SMA at H1 chart, it can look for the 98.11 level.

H1 chart's resistance levels: 97.41 / 98.11
H1 chart's support levels: 96.90 / 96.25

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 96.90, take profit is at 96.25 and stop loss is at 97.56.

Analysis are provided by InstaForex

InstaForex Gertrude · Guru

Fundamental Analysis of USD/CHF for June 2, 2017

USD/CHF has been recently in a corrective structure between 0.9700-0.9750 area. Recently CHF had negative economic reports like KOF Economic Barometer which was released with a worse figure at 101.6 which was expected to be at 106.2, GDP was released with a worse figure at 0.3% which was expected to rise to 0.5% from the previous figure of 0.2% and Retail Sales report was released with much worst figure at -1.2% which was expected to rise to 2.4% from previous 2.1%. Despite CHF having a good number of important economic events, the currency has managed to gain some strength over USD recently after the correction but failed to continue yesterday as of the positive USD ADP non-farm Employment Change report which showed a rise to 253k which was expected to rise to 181k from 174k previously. Today on the USD side, we have a number of high impact economic events like Average Hourly Earnings report is expected to show a fall to 0.2% from 0.3% previously, Unemployment Rate is expected to be unchanged at 4.4% and Non-Farm Employment Change is expected to decline to 181k from the previous figure of 211k. Though the Non-Farm Employment Change is expected to decline today as of ADP reports Non-Farm Employment Change has higher chances of release with a positive figure which will strengthen the growth of USD against CHF in the coming days.

Now let us look at the technical view, the price has shown a false break downwards after breaking below corrective structure support level at 0.9700. Currently, the price is residing between the corrective structure and a daily close above 0.9750 and daily close below 0.9700 will only enclose the upcoming move in this pair. As of the positive reports on the USD side evolving recently, it is expected that the price has higher chances of breaking upward above 0.9750 level with an upper target towards 0.9960 resistance area but if the price rejects off the corrective structure resistance 0.9750 or breaks below 0.9700 with a daily close below it then we will be looking forward to selling with a target towards 0.9550 support area.

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