Author Topic: InstaForex - instaforex.com (Read 558616 times)

Instaforexbuk · « **Reply #30 on:** October 19, 2016, 11:26:38 AM »

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Technical analysis of NZD/USD for October 19, 2016

Overview:

The NZD/USD pair continues to move upwards from the level of 0.7140 (resistance becomes support). Today, the first support level is currently seen at 0.7140, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 0.7140, which coincides with the 23.6% Fibonacci retracement level. Moreover, a minor support is seen at 0.7200. This support has been rejected several times confirming the veracity of an uptrend today. According to the previous events, we expect the NZD/USD pair to trade between 0.7140 and 0.7259. Therefore, the market is likely to show signs of a bullish trend around the spot of 0.7200. In other words, buy orders are recommended above the spot of 0.7200 with the first target at the level of 0.7259; and continue towards 0.7313. So, the support levels are seen at 0.7140 - 0.7200, while daily resistance level are found at 0.7259 - 0.7313. On the other hand, if the NZD/USD pair fails to break through the resistance level of 0.7313. Thus, the trend will probably be rebounded again from the this level as long as the level of 0.7313 is not broke.

Read more: https://www.instaforex.com/forex_analysis/83075

Instaforexbuk · « **Reply #31 on:** October 20, 2016, 11:43:35 AM »

Global macro overview for 20/10/2016

In the last televised debate with Hillary Clinton on Wednesday night in Las Vegas Donald Trump did not change his provocative attitude and did not cancel controversial opinions, which caused a storm of criticism and resulted in the loss of support of some voters as the preliminary polls show Clinton to lead in this debate. The Republican candidate once again refused a declaration that he considers any outcome of the election, questioned the findings interview that Russia had broken into American computer systems and denied that sexually assaulted women. Though his objections were supported by recordings of conversations Trump boasted that he did so with impunity through his fame celebrity. Moreover, the Republican Party candidate, who had encouraged his followers to control the voting process, which according to experts is threatening incidents of violence, is the most widely commented moment of the third debate. Its observers from CNN and MSNBC made the opinion that it buried Trump's chances of winning. Fox News well-known conservative columnist Charles Krauthammer called Trump's statement "a terrible mistake, and political suicide".

Let's now take a look at the USD/MXN technical picture at the H4 time frame after the presidential debate is done. The Mexican Peso is probably the highest correlated currency to the US Presidential Elections.

We can see a sudden drop during overnight's Asian trading session, which is the key indicator, that the financial markets do not not appreciate Trump's rhetorics. The next support is seen at the level of 18.254 and the next resistance is seen at the level of 19.091. Mind the gap please.

Instaforexbuk · « **Reply #32 on:** October 21, 2016, 12:11:40 PM »

Silver Technical Analysis for October 21, 2016.

Technical outlook and chart setups:

Silver is seen to be trading at $17.45 level at this moment of writing, looking to produce a bullish bounce at trend line support. Please note that if this wave count holds well, the metal should push through $18.20/30 levels at least. The metal is lagging slightly behind its counterpart Gold but it is expected to push above $17.77 level now. Please also note that Silver has tested the fibonacci 0.786 support of its recent upswing as seen here. The wave structure also indicates that the metal is expected to produce a counter trend rally at least towards $18.50 levels. If the metal reverses from $18.50/19.00 levels, then it would form base around $16.50/60 levels which is also the fibonacci 0.618 support of the entire rally between $13.70 and $21.10 levels respectively (not shown here). It is recommended to remain flat for now and look for opportunities to short again on rallies. Aggressive traders please remain long with risk at $17.00 levels. Immediate resistance is seen at $18.50/19.00 levels, while support is at $17.00 level respectively.

Trading recommendations: Remain flat for now. Aggressive traders may remain long, with stop at $17.00 and targeting $18.50 at least.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/83189

Instaforexbuk · « **Reply #33 on:** October 24, 2016, 12:18:38 PM »

Technical analysis of USD/CHF for October 24, 2016

USD/CHF is expected to trade in a higher range as the bias remains bullish. The pair broke below its 20-period and 50-period moving averages. The relative strength index is below its neutrality level at 50. Nevertheless, a support base has formed around 0.9915, which should limit the downside potential. Even though a continuation of consolidation cannot be ruled out, its extent should be limited. The US dollar continued to strengthen against most major currencies. It gained versus the euro for a fourth straight session, the longest winning streak since March, after European Central Bank President Mario Draghi hinted at no tapering of the central bank's asset purchases.

As long as 0.9915 is not broken, look for a further upside toward 0.9970. A break above this level would call for a further advance toward 1.

Resistance levels: 0.9970, 1.0000, 1.0075

Support levels: 0.9895, 0.9870, 0.9850

Read more: https://www.instaforex.com/forex_analysis/83257

Instaforexbuk · « **Reply #34 on:** October 25, 2016, 12:19:42 PM »

Daily analysis of GBP/USD for October 25, 2016

The pair started the week within a sideways range, but with a bearish bias favoured by the overall price action shown on H1 chart. Currently, GBP/USD is trading below the 200 SMA and it's expected that we could see a decline towards the 1.2155 level in coming hours or even days. However, if the pair manages to recover above the 1.2230 level, then it can test the 1.2312 price level.

H1 chart's resistance levels: 1.2312 / 1.2427

H1 chart's support levels: 1.2229 / 1.2155

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2229, take profit is at 1.2155 and stop loss is at 1.2301.

Read more: https://www.instaforex.com/forex_analysis/83311

Instaforexbuk · « **Reply #35 on:** October 26, 2016, 04:39:19 PM »

Technical analysis of USD/CAD for October 26, 2016

General overview for 26/10/2016:

The market keeps trading in a very tight congestion zone just below the recent local high at the level of 1.3397, but the lower levels are anticipated, as there are still uncompleted internal sub-waves in the market. The sudden decline towards the demand zone has been labeled as the wave a (black) of the overall corrective structure. There is still wave b (black) and c (black) missing from the overall correction. The projected target for wave c (black) has been raised to the level of 1.3250, just below the weekly pivot at the level of 1.3255.

Support/Resistance:

1.3397 - Wave a Top

1.3290 - 1.3311 - Demand Zone

1.3255 - Weekly Pivot

1.3157 - WS1

Trading recommendations:

Day traders might again consider opening the sell orders with SL just above the recent swing high and TP at the level of 1.3255.

Read more: https://www.instaforex.com/forex_analysis/83393

Instaforexbuk · « **Reply #36 on:** October 27, 2016, 03:22:15 PM »

Technical analysis of GBP/CAD for October 27, 2016

After breaking both 200- and 50-Moving Averages, GBP/CAD could now continue rising furhter. After breaking MAs, the pair found the support first on 200MA and then on 50MA.

Consider buying GBP/CAD, while the pair is near the upward trend line (1.6360) targeting 161.8% Fibs (1.6510) applied to the last corrective wave down, where price rejected 200 MA. The suggested stop loss is below 1.6300 psychological support.

Support: 1.6300

Resistance: 1.6510

Instaforexbuk · « **Reply #37 on:** October 28, 2016, 12:19:43 PM »

Technical analysis of USD/CHF for October 28, 2016

Overview:

The USD/CHF pair reached a new maximum around the spot of 0.9940. Right now, the USD/CHF pair has faced minor resistance at the levels of 0.9943 on 1H chart. Today price may reach one more maximum at level of 0.9943 and then start new correction towards the level of 0.9910 (at least). We expect the USD/CHF pair to continue moving in a bullish trend from the support levels of 0.9910 and 0.9900. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. Immediate support is seen at 0.9910, which coincides with a ratio of 38.2% Fibonacci. Consequently, the first support is set at the level of 0.9910. So, the market is likely to show signs of a bullish trend around the spot of 0.9910/0.9900. In other words, buy orders are recommended above the 0.9910 price with the first target at the level of 0.9967. Furthermore, if the trend is able to break out through the first resistance level of 0.9967, we should see the pair climbing towards the double top (0.9998) to test it. However, stop loss should always be taken into account, accordingly, it will be of beneficial to set the stop loss below the second support of 0.9889.

Read more: https://www.instaforex.com/forex_analysis/83541

Instaforexbuk · « **Reply #38 on:** October 31, 2016, 11:12:49 AM »

Technical analysis of USDX for October 31, 2016

The Dollar index has reversed from 99 price level as expected. I have been giving warnings for a bearish reversal for the past few sessions while the index was trading between 98.50-9. On a weekly basis, the weekly chart is not good. There are signs of a bigger reversal from current levels.

Green lines - bullish channel

Red line - long-term support

The Dollar index broke down and out of the bullish channel and as expected has found short-term support at the Ichimoku cloud at 98.30. A break below the Ichimoku cloud and the 98.25 lows should be followed by a deeper pullback towards 96.50.

Red lines - trading range

Green line - important support trend line

Last week's candle is a bearish reversal sign. Combined with the divergence signs in the stochastic and the fact we saw a rejection near the upper trading range boundary implies a pull back should start. Important support is at 96.50 which was the break out level. So a backtest towards that area is expected. If prices break below 96.50, we should expect a deeper correction even below 92. So 96.50 is for me the key between bulls and bears.

Read more: https://www.instaforex.com/forex_analysis/83589

Instaforexbuk · « **Reply #39 on:** November 01, 2016, 12:05:15 PM »

Technical analysis of USD/JPY for Nov 01, 2016

In Asia, Japan will release the BOJ Press Conference, Monetary Policy Statement, BOJ Policy Rate, BOJ Outlook Report, Final Manufacturing PMI and the US will release some Economic Data such as Total Vehicle Sales, ISM Manufacturing Prices, IBD/TIPP Economic Optimism, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 105.34.

Resistance. 2: 105.14.

Resistance. 1: 104.94.

Support. 1: 104.67.

Support. 2: 104.47.

Support. 3: 104.26.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you, as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/83641

Instaforexbuk · « **Reply #40 on:** November 02, 2016, 10:13:46 AM »

EUR/USD Technical Analysis for November 02, 2016.

Technical outlook and chart setups:

The EUR/USD pair seems to have achieved its initial soft target at 1.1030/40 levels and also exceeded the same. The pair has made interim highs at 1.1070 levels right now and is poised to prepare to drop from here. EURO bulls have hit previous wave 4 termination at 1.1030/40 levels and also tested resistance at 1.1070 levels now. Please note that the pair is pretty close to forming a top and reverse lower. The probability for wave 4 terminations at these levels remains high at this moment according to wave counts discussed earlier. Looking at the wave structure, the pair should be facing stiff resistance around 1.1100 levels, if prices reach there, and bears are expected to regain control from there on. It is recommended to book profits on all long positions taken earlier and prepare to go short. Immediate resistance is seen at 1.1075/1.1100 levels, while support is seen at 1.0930 levels respectively.

Trading recommendations: Please book profits on all long positions taken earlier and prepare to go short around 1.1070/1.1100 levels, stop at 1.1150, targeting lower.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/83707

Instaforexbuk · « **Reply #41 on:** November 03, 2016, 11:31:38 AM »

Technical analysis of USD/JPY for November 03, 2016

USD/JPY remains under pressure below its key resistance at 103.50 and is likely to test its nearest support at 102.45 in the coming trading hours. The risk of a slide below this threshold remains high, as the falling 50-period moving average maintains the strong selling pressure on the prices.

On Wednesday, U.S. stocks posted further losses as uncertainty over the presidential election remained and the Federal Reserve sent new hints about a possible December rate increase. The Dow Jones Industrial Average fell 77 points (-0.4%) to 17,959, the S&P 500 lost 13 points (-0.7%) to 2,097 and the Nasdaq Composite was down 48 points (-0.9%) to 5,105.

Real estate and utilities shares remained the worst performers.

The Fed Reserve, as expected, decided to leave interest rates steady following a two-day policy meeting.

However, the central bank sent new signals that it could raise rates in December. In its post-meeting policy statement the Fed pointed out, "Inflation has increased somewhat since earlier this year but is still below the Committee's 2% longer-run objective. The rate-setting committee judges that the case for an increase in the federal funds rate has continued to strengthen but decided, for the time being, to wait for some further evidence of continued progress toward its objectives."

Meanwhile, payroll processor ADP reported that U.S. employers added 147,000 private jobs in October, lower than a gain of 170,000 jobs expected.

To conclude, as long as 103.45 is not surpassed, look for a new pullback to 102.45 and 102.00 in extension.

Trading 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 102.45. A break below this target will move the pair further downwards to 102.00. The pivot point stands at 103.50. 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 103.90 and the second one at 104.65.

Resistance levels: 103.90, 104.65, 105.15

Support levels: 102.45, 102.00, 101.45

Read more: https://www.instaforex.com/forex_analysis/83783

Instaforexbuk · « **Reply #42 on:** November 07, 2016, 12:59:06 PM »

Technical analysis of USD/CAD for November 7, 2016

General overview for 07/11/2016:

The current wave development suggests a more complex and time-consuming structure unfolding currently on this pair. The Elliott wave count has been updated and now it indicates an uncompleted structure to the upside, labeled as the blue wave c. On the other hand, the structure in wave b may not have been completed yet and if the demand zone is clearly violated, the market might extend fall towards the level of 1.3000.

Support/Resistance:

1.3503 - WR2

1.3465 - Intraday Resistance

1.3433 - WR1

1.3392 - Weekly Pivot

1.3353 - Intraday Support

1.3319 - WS1

1.3280 - WS2

Trading recommendations:

The current market structure is not clear enough to justify trading. Day traders should refrain from placing orders and wait for another trading setup to occur shortly.

Read more: https://www.instaforex.com/forex_analysis/83901

Instaforexbuk · « **Reply #43 on:** November 08, 2016, 11:22:52 AM »

Daily analysis of GBP/USD for November 08, 2016

GBP/USD is correcting from Friday highs, as the US presidential elections will take place today and markets are looking to price further scenarios that this political event could bring to the global economy. For now, Cable is approaching to the 200 SMA at H1 chart, around 1.2335, where the pair may gain some momentum in order to resume the overall bullish bias towards the 1.2482 level.

H1 chart's resistance levels: 1.2413 / 1.2482

H1 chart's support levels: 1.2335 / 1.2262

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 1.2413, take profit is at 1.2482 and stop loss is at 1.2343.

Read more: https://www.instaforex.com/forex_analysis/83939

Instaforexbuk · « **Reply #44 on:** November 09, 2016, 12:11:25 PM »

Technical analysis of USD/CHF for November 09, 2016

USD/CHF is expected to prevail its upside movement. 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 bullish above its neutrality level at 50 and is heading upwards. Additionally, the pair broke above the upper boundary of the Bollinger Band, which could signal a continuation of a bullish trend.

As long as 0.9690 is support, look for a further upside toward 0.97090 and 0.9875 in extension.

Resistance levels: 0.9790, 0.9875, 0.9950

Support levels: 0.9635, 0.9545, 0.9500

Read more: https://www.instaforex.com/forex_analysis/84029

Instaforexbuk · « **Reply #45 on:** November 10, 2016, 10:54:03 AM »

Technical analysis of AUD/NZD for 10th November 2016

We prepare to sell when price makes a push up to major resistance at 1.0577 (Fibonacci projection, Fibonacci retracement, horizontal overlap resistance) where we expect a drop from to at least 1.0362 again.RSI (34) remains below a long-term descending resistance line. As long as RSI doesn't cross above that line with strength, we remain bearish.

Sell below 1.0577. Stop loss at 1.0635. Take profit at 1.0362.

Read more: https://www.instaforex.com/forex_analysis/84061

Instaforexbuk · « **Reply #46 on:** November 11, 2016, 12:17:16 PM »

Elliott wave analysis of EUR/JPY for November 11, 2016

Wave summary:

Important resistance (neckline for the inverse S/H/S bottom) at 116.28 is currently being tested and once it is broken clearly, upside acceleration towards 118.47 and 122.00 should be seen.

A break above 116.28 will confirm that the long term correction from 149.56 finally completed with the test of 109.48 and a new long-term impulsive rally is building.

Support is seen at 115.70, which we expect will protect the downside for the test and break above 116.28 for more upside acceleration.

Trading recommendation:

We are long EUR from 115.04 and will move our stop to break-even. If you are not long EUR yet, then buy near 115.70 or upon a break above 116.28 and use the same stop at 115.04.

Read more: https://www.instaforex.com/forex_analysis/84135

Instaforexbuk · « **Reply #47 on:** November 14, 2016, 11:39:52 AM »

Wave analysis of gold for November 14, 2016

Gold price crashed to new lows on Friday and even today closer to our $1,200-$1,180 target area after breaking below $1,250-40. We are in wave 2 down for Gold and this is not the time to be bearish. I expect Gold price to reverse to the upside once wave 2 down is complete.

Black lines - bearish channel

Gold price is trading inside a bearish short-term channel. Oscillators are oversold and diverging. A bounce at least towards $1,240 should be expected. Important resistance is now at $1,280. A break above it will open the way for a re-test of the highs.

Green line - long-term resistance trend line

Gold price completed wave B at the green trend line resistance and then we said that a rejection would imply this was wave B and wave C towards the Ichimoku cloud and close to the 61.8% Fibonacci retracement would follow. We are currently in wave 2 down as long as price is above $1,045. This is my long-term bullish scenario as I believe a long-term reversal has occurred at $1,045. Price has touched the Ichimoku cloud but could very well reach even the 61.8% Fibo.

Read more: https://www.instaforex.com/forex_analysis/84193

Instaforexbuk · « **Reply #48 on:** November 15, 2016, 02:38:27 PM »

EUR/NZD analysis for November 15, 2016

Recently, EUR/NZD has been moving sideways around the price of 1.5135. Using the market profile on the 15M time frame, I found a strong point of control from the background at the price of 1.5185. I found successful rejection of the point of control. The pair is trading below 21SMA, which is a sign of weakness. Watch for potential selling opportuntiies on the pullbaks. A downward target is set at the price of 1.5045.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5205

R2: 1.5250

R3: 1.5310

Support levels:

S1: 1.5065

S2: 1.5025

S3: 1.4960

Trading recommendations for today: Watch for potential selling opportunities.

Read more: https://www.instaforex.com/forex_analysis/84263

Instaforexbuk · « **Reply #49 on:** November 16, 2016, 12:28:41 PM »

Elliott wave analysis of EUR/JPY for November 16, 2016

Wave summary:

We have finally seen the expected break above important resistance at 116.28 calling for more upside towards 118.60 and 122.00 as the next upside targets.

Short term, support is now seen at 116.79 and again near 116.28. A break below former important resistance, which now acts as support, will be confusing, but only a break below 115.27 will invalidate the bullish outlook.

Trading recommendation:

We are long EUR from 115.04 and will move our stop higher to 116.04. If you are not long EUR yet, then buy near 116.78 and use the same stop at 116.04.

Read more: https://www.instaforex.com/forex_analysis/84305

Instaforexbuk · « **Reply #50 on:** November 17, 2016, 01:25:27 PM »

Technical analysis of GBP/JPY for November 17, 2016

GBP/JPY is expected to trade with a bearish bias as the key resistance is seen at 136.55. The pair is consolidating below its key resistance at 136.55, which should limit the upside potential. The 50-period moving average is playing a resistance role, while the relative strength index is above its neutrality level at 50. Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited. As long as the key resistance at 136.55 holds on the upside, look for a further drop toward 134.95. A break below this level would call for a further decline toward 134.15.

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 134.95 and the second one at 134.15. In the alternative scenario, short positions are recommended with the first target at 137.40 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 138.15. The pivot point lies at 136.55.

Resistance levels: 137.40, 138.15, 139

Support levels: 134.95, 134.15, 133.40

Read more: https://www.instaforex.com/forex_analysis/84363

Instaforexbuk · « **Reply #51 on:** November 25, 2016, 03:44:19 PM »

Technical analysis of NZD/USD for November 25, 2016

NZD/USD is expected to trade with a bullish outlook. The pair is trading around its 20-period and 50-period moving averages and is holding on the upside. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Additionally, 0.6970 represents a significant key support level, which should limit the downside potential. As long as this key level is not broken, look for a further upside toward 0.7090. A break above this level would call for a further advance toward 0.7110.

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 0.7090 and the second one at 0.7110. In the alternative scenario, short positions are recommended with the first target at 138.70, 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 0.6920. The pivot point lies at 0.6970.

Resistance levels: 0.7090, 0.7110, 0.7140

Support levels: 0.6950, 0.6920, 0.6885

Read more: https://www.instaforex.com/forex_analysis/84738

Instaforexbuk · « **Reply #52 on:** November 28, 2016, 04:21:41 PM »

Technical analysis of USD/CAD for November 28, 2016

General overview for 28/11/2016:

The market keeps trading horizontally between the intraday support at the level of 13378 and intraday resistance at the level of 1.3566. The first three waves of this wave progression have been completed and now it looks like the tow for the wave x (green) is in place as well. That would mean the market should move lower, towards the intraday support, after the weekly pivot at the level of 1.3482 is tested.

Support/Resistance:

1.3588 - Local High

1.3583 - WR1

1.3566 - Intraday Resistance

1.3482 - Weekly Pivot

1.3429 - WS1

1.3378 - Intraday Support

1.3323 - WS2

Trading recommendations: Due to the corrective cycle still unfolding, the daytraders should open only sell orders around the level of 1.3482 as there is uncompleted wave progression to the downside.

Read more: https://www.instaforex.com/forex_analysis/84792

Instaforexbuk · « **Reply #53 on:** November 29, 2016, 01:04:22 PM »

Technical analysis of EUR/NZD for November 29, 2016

EUR/NZD has established a downtrend and clearly moving lower rejecting the downtrend trendline as well as 50 and 200 Moving Averages. Fibonacci, which was applied to the last corrective upward wave when moving average was rejected, shows that pair broke below 161.8% Fibs and now could be ready to move lower.

Consider selling EUR/NZD at the current rate (1.4955) targeting either 261.8% (1.4885) or 361.8% Fibs (1.4805). Suggested stop loss is above 50 Moving Average.

Support: 1.4885, 1.4805

Resistance: 1.4965, 1.5015

Read more: https://www.instaforex.com/forex_analysis/84854

Instaforexbuk · « **Reply #54 on:** November 30, 2016, 04:13:41 PM »

Technical analysis of gold for November 30, 2016

Gold price continues to trade sideways between $1,195 and $1,177. Support was tested yesterday and held, but bulls could not break resistance. The strong Dollar remains the biggest influence so far to the downside for Gold.

Blue line -short-term resistance

Green line - short-term support

Gold price is trading around the 4 hour kijun- and tenkan-sen indicators (yellow and red lines). Price is below the Ichimoku cloud confirming bearish trend. Only a break above $1,220 will change short- and medium-term trend.

Nothing new on our weekly chart. Price right at the 61.8% Fibonacci retracement and at the lower cloud boundary. This back test of the breakout above the weekly cloud is very important. If price manages to bounce back above the cloud, this will be a very bullish sign that could imply a new uptrend starting with targets above $1,375. A break however below the cloud will open the way for a move towards at least $1,120.

Read more: https://www.instaforex.com/forex_analysis/84916

Instaforexbuk · « **Reply #55 on:** December 01, 2016, 03:54:55 PM »

Global macro overview for 01/12/2016

The US ISM Manufacturing Index data are scheduled for release at 03:00pm GMT today and market participants expect a slight increase. Last time the index came in at 51.9 points, this month the consenus is at the level of 52.1 point, which means a slight expansion in this sector of the economy. The reason behind this optimism are positive data across regional manufacturing benchmarks published by Federal Reserve banks. For the first time in two years, all five indices are above zero as of November. Moreover, IHS Markit's benchmark in November jumped to its highest level since March 2015, which is another signal of further improvement. In conclusion, interesting economic indicator to watch today as any reading better than expected might cause the stock to rally higher.

Let's now take a look at the EUR/USD technical picture in the 4H time frame. The pair keeps trading sideways in a range bound manner, but now it is possible that a triangle pattern is unfolding. The technical indicators are still pointing to the downside, so the eventual breakout of this pattern should be towards the techncial support at the level of 1.0550 and 1.5014.

Instaforexbuk · « **Reply #56 on:** December 02, 2016, 02:40:13 PM »

EUR/NZD analysis for December 02, 2016

Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.5063 in a high volume. Anyway, using the market profile chart on 30M time frame, I found that buyers lost power near the price of 1.5063 and that buying at this stage looks risky. I found a breakout of the upward trendline and price is trading below 21SMA, which is a sign of weakness. Be careful when buying EUR/NZD and watch for potential selling opportunities. A dDownward target is set at the price of 1.4935.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5065

R2: 1.5095

R3: 1.5145

Support levels:

S1: 1.4965

S2: 1.4935

S3: 1.4880

Trading recommendations for today: watch for selling opportunities.

Read more: https://www.instaforex.com/forex_analysis/85058

Instaforexbuk · « **Reply #57 on:** December 05, 2016, 05:09:44 PM »

Technical analysis of USD/CHF for December 05, 2016

USD/CHF is expected to further advance. The pair bounced off its support base around 1.0075 this morning, helped by a bullish gap. The relative strength index is displaying strong bullish momentum, and calls for further advance. In addition, a bullish cross has been identified between the 20-period and 50-period moving averages. On the economic data front, change in nonfarm payrolls grew 178k in November (estimated 180k) from 142k in the previous month (revised from 161k). On the other hand, change in manufacturing payrolls decreased 4k in November (forecasted -2k) compared with a decrease of 5k (revised from -9k). In other news, the unemployment rate came out to 4.6% in November (estimated 4.9%) from 4.9% in the prior month.

Hence, as long as 1.0100 is not broken, likely advance to 1.0200 and 1.0250 in extension.

Resistance levels: 1.0200, 1.0250, 1.0280

Support levels: 1.0075, 1.0050, 1.0005

Read more: https://www.instaforex.com/forex_analysis/85080

Instaforexbuk · « **Reply #58 on:** December 06, 2016, 02:51:04 PM »

AUD/USD at major resistance, prepare to be bearish

Price is now at major resistance at 0.7500 (Fibonacci projection, horizontal resistance, Fibonacci retracement) where we expect a reaction from and a drop to at least 0.7370.

RSI (34) remains below major 61% resistance.

Sell below 0.7500. Stop loss at 0.7557.

Take profit at 0.7370.

Read more: https://www.instaforex.com/forex_analysis/85120

Instaforexbuk · « **Reply #59 on:** December 07, 2016, 03:26:43 PM »

Gold analysis for December 07, 2016

The price of $1,172.00 is the key level on gold. If the price rejects lower from that point, we may see potential testing of $1,165.60. Anyway, if the price breaks an upward channel, gold may visit the level of $1,177.60. The price is trading at the point of control. I found a downward channel and the price is testing the upper diagonal of the channel. Watch for potential selling opportunities. The first downward target is set at the price of $1,165.50. Anyway, if the price breaks the level of $1,172.50, gold may visit the level of $1,177.60 (Fibonacci expansion 61.8%).

Fibonacci pivot points:

Resistance levels:

R1: 1,172.35

R2: 1,177.30

R3: 1,179.80

Support levels:

S1: 1,164.90

S2: 1,162.25

S3: 1,157.50

Trading recommendations for today: Watch for potential selling opportunities. Anyway, if you see an upward breakout of the channel, watch for buying opportunities.

Read more: https://www.instaforex.com/forex_analysis/85210

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