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InstaForex Gertrude · Guru

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InstaForex Gertrude · Guru

Technical analysis of AUD/USD for July 20, 2015

Ahead of the major events, the aussie is trading lower against USD. Monetary policy meeting minutes ate due today, data on CPI and speech of RBA governor Stevens are scheduled for tomorrow. Today, the pair opened on a bearish note. The nearest support zone is found at 0.7330, 0.7300, and 0.7250. In the daily chart, the pair closed below a neckline of a bearish h&s pattern. This indicates further lows in the coming weeks. The weekly resistance is seen at 0.7380, 0.7420, and 0.7500. Earlier, the pair made a double top at 0.7500. Use rises to sell until the price closes below 0.7500. At the intraday session, selling is available below 0.7330 with targets at 0.7300, 0.7250, and 0.7220.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for July 21, 2015

Given lack of macroeconomic data, today is understandably a quiet day on the euro and USD markets. Things should pick up rapidly on Friday, however as we don't have a number of high-impact data releases to look forward. The pair closed below 20Wsma.
The pair reached a large distribution territory between 1.1467 and 1.1437. In the daily chart, the pair lost all moving averages. The nearest support is found at 1.0785. We advised selling on rises with a target at 1.0720. The 20Wsma is seen at 1.1080. In different time intervals (hourly and daily charts), the oscillators indicate oversold levels.
The pair has been reaching lower lows and lower highs, falling below the lower end of the ascending trendline. We recommend fresh selling only below 1.0780 with an initial target at 1.0720 and extending towards 1.0630 later.
Intraday resistance is seen at 1.0840, 1.0870, and 1.0910. Support is found at 1.0790, 1.0750, and 1.0720.
Weekly resistance is seen at 1.0920, 1.0960, and 1.0980. Support is found at 1.0790, 1.0720, and 1.0650.
Monthly support is found at 1.0730.

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InstaForex Gertrude · Guru

Technical analysis of USD/JPY for July 22, 2015

USD/JPY is expected to consolidate with bullish bias. USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 97.96 versus 97.66 early Friday) on a larger-than-expected 9.8% on-month increase in the US June housing starts (versus forecast +7.1%), while +0.3% US June CPI (matching forecast) bolstered expectations that the Federal Reserve will begin tightening its policy this year. USD/JPY is also supported by the Bank of Japan's ultra-loose monetary policy, reduced safe-haven appeal of the yen as investor risk aversion recedes (VIX fear gauge eased 1.32% to 11.95; S&P 500 closed up 0.11% at 2,126.64 Friday) amid easing concerns about Greece and signs of stabilization in China stock markets. But USD sentiment is dented by the weaker-than-expected US July preliminary University of Michigan consumer sentiment index of 93.3 (versus forecast 95.5). USD/JPY upside is also limited by the profit-taking on short JPY positions and buy-yen orders from Japan's exporters. Technical comment: The daily chart is still positive-biased as the MACD and stochastics are bullish, although the latter one is at overbought levels. Five-day moving average is above 15-day moving average and is advancing. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 124.35 and the second target at 124.60. In the alternative scenario, short positions are recommended with the first target at 123.70 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 123.35. The pivot point is at 123.90.

Resistance levels: 124.35 124.60 124.90
Support levels: 123.70 123.35 123

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for July 27, 2015

When the European market opens, economic news Private Loans y/y, M3 Money Supply y/y, German Ifo Business Climate, and German Import Prices m/m is due. The US will release data about Durable Goods Orders m/m and Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1025.
Strong Resistance:1.1019.
Original Resistance: 1.1008.
Inner Sell Area: 1.1997.
Target Inner Area: 1.0972.
Inner Buy Area: 1.0947.
Original Support: 1.0936.
Strong Support: 1.0925.
Breakout SELL Level: 1.0919.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of GBP/USD for July 28, 2015

On the daily chart, GBP/USD is trading slightly bullish, but it is still ins the zone around the 200 SMA. We should expect a rally towards the resistance zone of 1.5640 and also, a higher continuation towards new highs. However, if a pullback take place at currentl evels, it would be expected to test the support zone of 1.5450.

GBP/USD found a strong bottom around the level of 1.5502 and now it is trading above the 200 SMA on the H1 chart. There is a resistance level of 1.5568 still to be broken during this bullish road, but eventually, the pair could trade higher again in order to reach new highs. We should expect a bullish consolidation for the mid-term when GBP/USD moves above that moving average again.

Daily chart's resistance levels: 1.5543 / 1.5640
Daily chart's support levels: 1.5450 / 1.5332
H1 chart's resistance levels: 1.5568 / 1.5594
H1 chart's support levels: 1.5524 / 1.5502

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5568, take profit is at 1.5594, and stop loss is at 1.5542.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for July 30, 2015

When the European market opens, economic data on the Italian 10-y Bond Auction, ECB Economic Bulletin, German Unemployment Change, Spanish Flash GDP q/q, Spanish Flash CPI y/y, and German Prelim CPI m/m is due. The US will publish data on Natural Gas Storage, Advance GDP Price Index q/q, Unemployment Claims, and Advance GDP q/q. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1034.
Strong Resistance:1.1028.
Original Resistance: 1.1017.
Inner Sell Area: 1.1006.
Target Inner Area: 1.0981.
Inner Buy Area: 1.0966.
Original Support: 1.0945.
Strong Support: 1.0936.
Breakout SELL Level: 1.0929.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for August 03, 2015

In Asia, Japan will release data on the Final Manufacturing PMI. The US will publish economic news about Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, ersonal Spending m/m, and Core PCE Price Index m/m. So, there is a strong probability that USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:
Resistance. 3: 124.61.
Resistance. 2: 124.36.
Resistance. 1: 124.12.
Support. 1: 123.83.
Support. 2: 123.58.
Support. 3: 123.34.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for August 04, 2015

When the European market opens, some data on the PPI m/m and Spanish Unemployment Change is due.The US will release data on the Loan Officer Survey, IBD/TIPP Economic Optimism, and Factory Orders m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1004.
Strong Resistance:1.0998.
Original Resistance: 1.0987.
Inner Sell Area: 1.0976.
Target Inner Area: 1.0951.
Inner Buy Area: 1.0926.
Original Support: 1.0915.
Strong Support: 1.0904.
Breakout SELL Level: 1.0898.

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InstaForex Gertrude · Guru

EUR/USD Technical Levels and Trading Recommendations for August 5, 2015

When the European market opens, economic data on Retail Sales m/m, Italian Industrial Production m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI is due. The US will unveil data about Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, Trade Balance, and ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.0937.
Strong Resistance:1.0931.
Original Resistance: 1.0920.
Inner Sell Area: 1.0909.
Target Inner Area: 1.0884.
Inner Buy Area: 1.0859.
Original Support: 1.0848.
Strong Support: 1.0837. Breakout SELL Level: 1.0831.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

USD/CAD intraday technical levels and trading recommendations for August 5, 2015

Overview: When bulls pushed the price further above 79.6% Fibonacci level, the market looked quite overbought. That is why, the price failed to hold above 1.2650 - 1.2680 (previous highs) resulting in a formation of successive lower highs (within the depicted consolidation zone) enhancing the bearish side of the market. Daily fixation below 1.2300 opened a way towards the levels of 1.2000 and 1.1940 (the depicted weekly uptrend). Bullish support was found around these levels. Successive higher lows were established. Bullish pressure was applied against the resistance levels of 1.2450 and 1.2500 (previous tops). On the other hand, the previous weekly candlestick came frank bullish. That is why, an extensive bullish movement is seen on the chart. A bullish breakout above the price zone of 1.2770-1.2800 has been executed. Earlier, signs of lacking bullish momentum were manifested on the chart. A bearish corrective movement was initiated towards the levels of 1.2900-1.2850. However, a new bullish swing is taking place today, especially after Friday's bullish engulfing candlestick. The long-term bullish projection target would be located at the level of 1.3270 if enough bullish support is maintained.

Trading recommendations: Traders can wait for a bearish pullback towards the recent breakout zone (1.2800-1.2750) for a valid buy entry as the Breakout level constitutes the recent support. Stop Loss should be located below the level of 1.2700. T/P levels should be located at 1.2850 and 1.2900.

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InstaForex Gertrude · Guru

Technical analysis of AUD/USD for August 7, 2015

Trading recommendations: As it is known, sellers are asking for a higher price as well as buyers are looking for a lower price. Therefore, the first key level will set at 0.7420. The second key level will set at 0.7380 today. Equally important, the AUD/USD pair has been trading between 0.7420 and 0.7283. Additionally, it should be noted that the range was about 76 pips today and around 173 till next week. Furthermore, the trend was very clear and was indicating downtrend. We expect that the trend is going to call for a bearish market at the level of 0.7420 in the H1 chart (last top). As a result, sell at the level of 0.7420 with the first target at 0.7314. It might resume to 0.7283 in order to test the support. Also, it should be noted that the double bottom will set at 0.7234. On the other hand, your stop loss should be placed above the level of 0.7420, Thus, it will be helpful to set it at the level of 0.7463.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of USDX for August 10, 2015

On the daily chart, the USD index made a pullback. Now it's testing the support level of 97.57. On the daily chart, we can see the bullish bias could be facing a key zone which will make the USDX retest new lows on a weekly basis because the resistance level of 98.29 remains very strong against the current bullish bias the index is following.

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InstaForex Gertrude · Guru

Technical analysis of USD/JPY for August 10, 2015

USD/JPY is expected to trade with bullish bias. With the US dollar index traded at 97.712, the greenback has failed to hold its gains made immediately after the US government reported last Friday that non-farm sector added 215K jobs in July (vs +225K expected, +223K in June). Even though the robust number suggests that the Federal Reserve could raise interest rates this year, traders expect rate increases to be slow, and the US dollar's upside is limited. USD/JPY broke above its previous key support at 124.45 and remains upside. The 20-period intraday moving average is below the 50-period one, while the intraday RSI stays within the selling area between 50 and 30. So, even though a continuation of a technical rebound cannot be ruled out, its extent should be limited. The key resistance is set at 124.45 and the first upside target at 125.25 (around last Friday's low). The second downside target is set at further support at 125.60. Technical comment: The daily chart is positive-biased as stochastics is bullish, the MACD histogram bars are turned positive. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price keeps above its pivot point, long positions are recommended with the first target at 125.25 and the second target at 125.60. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 124.30. A break of this target would push the pair further downwards, and one may expect the second target at 124.10. The pivot point is at 124.45.

Resistance levels: 125.25 125.60 126
Support levels: 124.30 124.10 123.70

More analysis - at instaforex.com

InstaForex Gertrude · Guru

USDX technical analysis for August 12, 2015

The Dollar index is testing the important short-term support level of 97. The Dollar index has made a bearish reversal towards trend line support but bulls continue to hold the upper hands. As long as price is above 97, bulls should feel safer.

Red line - resistance
Green line - support

The Dollar index has pulled back towards 97 area as expected and tested the Ichimoku cloud and the green trend line. Trend remains bullish but with some reversal signs. Bulls will be in danger if we see a daily close below 97. The double top at 98.20 is not a good sign for the next couple of weeks.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of GBP/USD for August 13, 2015

GBP/USD remains trapped inside the range between the 1.5640 and 1.5450 levels on the daily chart, but the slightly bullish bias is still alive. However, 200 SMA on this time frame seems to be neutral and that means the pair will try to find a solid road soon in order to continue trading higher or lower, but this stage is crucial.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of major pairs for August 14, 2015

EUR/USD: The bullish signal on the EUR/USD pair is still intact. The EMA 11 is above the EMA 56 and the Williams' % Range period 20 is not too far from the overbought region. This means there is a Bullish Confirmation Pattern in the market: the outlook is bullish.

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InstaForex Gertrude · Guru

Elliott wave analysis of EUR/NZD for August 17 - 2015

Technical summary:
We continue to look for a b-wave rally to 1.7198 and maybe even higher to 1.7273 as the break above 1.7077 indicates that an expanded flat correction is unfolding. Therefore, we are looking for minor support in the 1.6890 - 1.6910 area for a move higher to 1.7198 before wave c lower to 1.6581 should be expected.
At this point, only a break below 1.6890 will confuse the picture, but only a break below support at 1.6756 will tell that wave c lower to 1.6581 already is developing.

Trading recommendation:
We are looking for a selling opportunity at 1.7185.

More analysis - at instaforex.com[/B]

InstaForex Gertrude · Guru

Technical analysis of USD/CAD for August 18, 2015

General overview for 18/08/2015 09:30 CET

The 1-1 geometry between the waves a and c purple has been missed by 3 pips, nevertheless the corrective cycle in wave a green (alt:X brown) has been completed. Currently the corrective cycle in wave b green (alt:Y brown) continues. The key level for today is the intraday resistance at the level of 1.3156. Any breakout higher would be viewed as temporary bullish.

Support/Resistance:

1.3156 - Intraday Resistance

1.3079 - Weekly Pivot

1.3058 - Intraday Support

1.2975 - WS1

Trading recommendations: Daytraders should consider opening sell orders from the level of 1.3156 with tight SL (10-15 pips) and TP at the level of 1.3100.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of USDX for August 20, 2015

USDX is performing some pullbacks and extending the correction below the 96.57 level. The daily chart is still showing an alive bullish bias, but the Index seems to be prepared to extend the corrections towards new monthly lows, as the USDX reached extreme zones. 200 SMA is still bullish and MACD indicator is on the negative territory.

On H1 chart, USDX found dynamic resistance around the 200 SMA and the index is finding strong bottom at the support level of 96.37. That's why we should expect a breakout of that level, towards the 96.04 zone. We should expect a bearish trend which could last for the short and at mid term. MACD indicator remains on the negative territory.

Daily chart's resistance levels: 96.57 / 97.57
Daily chart's support levels: 95.50 / 94.59
H1 chart's resistance levels: 97.37 / 97.62
H1 chart's support levels: 96.88 / 96.37

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 96.37, take profit is at 96.04, and stop loss is at 96.72.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

GBP/USD intraday technical levels and trading recommendations for August 21, 2015

Overview: On April 9, the bearish trend was resumed towards the level of 1.4550 where a lower daily bottom was reached. This is where the ongoing bullish swing was initiated. A daily closure above 1.5060 exposed the next resistance levels at 1.5400 and 1.5450 where a temporary bearish pullback took place on April 29. The next bullish swing extended up to the levels of 1.5750-1.5800, which offered traders few valid SELL entries (depicted with red arrows). The final bearish target at 1.5450 was already reached. Recently, strong bullish pressure was applied against the resistance levels around 1.5800 via the ongoing bullish swing. That is why, the resistance level at 1.5800 was temporarily breached. Hence, GBP/USD bulls pursued towards 100% Fibonacci Expansion located around 1.5900 where the depicted Head and Shoulders pattern was initiated. The level of 1.5555 (prominent demand level/depicted uptrend line) got breached earlier last month due to excessive bearish pressure. This enhanced the bearish side of the market towards 1.5360. However, a bullish pullback towards 1.5600 was expected to take place shortly after, as suggested in the previous articles. Our SELL entry which was suggested around 1.5600 got triggered two weeks ago. An early exit should be considered if the current daily candlestick closes above 1.5690 (the upper limit of the consolidation range) . A better SELL entry with a lower risk/reward ratio may be offered around the price level of 1.5780 if enough bullish pressure is expressed above 1.5690 (the current price level). Note that fixation below the price zone of 1.5550-1.5500 (mid-line of the consolidation range) is mandatory to pursue towards lower bearish targets at 1.5450 and 1.5350. It confirms the Triple-Top reversal pattern depicted on the chart. On the other hand, daily fixation above 1.5690 (the upper limit of the consolidation range) hinders this bearish scenario for some time. This probably exposes the breakout projection target at 1.5800 before further bearish decline can be achieved.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Intraday technical levels and trading recommendations for GBP/USD for August 21, 2015

Few months ago, the market was pushed above the weekly key zone around 1.5550 in an attempt to reach the area around 1.5900, which provided evident supply for the GBP/USD pair. As anticipated, a bearish pullback towards the level of 1.5550 took place. Temporary bearish break out below the GBP/USD key level at 1.5500 took place on July 5. Last week, strong bearish pressure was applied to the level of 1.5550 again. It was broken down temporarily until the last week when the weekly bullish engulfing candlestick was expressed. Contradictory signals are coming from consecutive weekly candlesticks. This indicates market indecision above the price levels of 1.5500. However, the previous weekly candlestick closure above 1.5500 hinders further bearish decline and enhances the bullish side of the market at least towards 1.5670 (previous weekly high) and 1.5780 (61.8% Fibonacci level). On the other hand, the current weekly candlestick should be monitored by the end of the current day to determine if the weekly closure persists above 1.5500 or below. The nearest demand level around 1.5200 will become exposed only if the GBP/USD bears manage to bring the market price below the level of 1.5500 again (low probability).

Previously, the zone of 1.5800-1.5880 acted as significant supply. It offered a valid sell entry few weeks ago. All T/P levels were successfully reached. On the other hand, the level of 1.5550, which corresponds to 50% Fibonacci level and a previous prominent top, was temporarily broken allowing further bearish decline towards 1.5350 where an ascending bottom was recently established. The level of 1.5500 constitutes a significant KEY level to watch for. It corresponds to the short-term uptrend line depicted on the chart. However, evident bullish pressure was applied at 1.5450 on August 7. A bullish engulfing daily candlestick was expressed by the end of the day. The nearest supply levels to meet the GBP/USD pair are located around the price levels of 1.5660 (multiple daily highs) and 1.5770 (prominent 61.8% Fibonacci level) where bearish rejection should be anticipated. The price reaction should be watched at retesting price levels around 1.5770 (61.8% Fibonacci level). A valid SELL entry can be offered there. On the other hand, the bearish scenario towards 1.5470 and 1.5370 should only be anticipated if the GBP/USD bears manage to push again below 1.5500 successfully (low probability).

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of GBP/USD for August 24, 2015

On the daily chart, bullish tone remains untouched with GBP/USD, because the pair is looking to break the resistance zone of 1.5761 higher during this week. Besides, the cable is still supported by the 200 SMA, which is also giving the current bullish momentum to this pair. There could be some pullbacks, but the rally is strong.

Resistance level of 1.5715 is the near-term target that pair is looking to break in order to continue trading in favor of the bullish bias. Next interest zone is located around the 1.5763 level. However, at least during this week, GBP/USD could test again the 200 SMA and perform a rebound to ride again the bullish trend.

Daily chart's resistance levels: 1.5761 / 1.5881
Daily chart's support levels: 1.5640 / 1.5543
H1 chart's resistance levels: 1.5715 / 1.5763
H1 chart's support levels: 1.5679 / 1.5632

Trading recommendations for today:
Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5715, take profit is at 1.5763, and stop loss is at 1.5666.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of USD/JPY for August 24, 2015

USD/JPY is expected to trade in a lower range. The US dollar and stocks were impacted by fears about the global growth, particularly those concerning China. The Dow Jones Industrial Average tumbled 3.1% to close at 16459, the S&P 500 plunged 3.2% to 1970, while the Nasdaq Composite dropped 3.5% to 4706.04. Having declined 10% from its recent high, the DJIA is now in correction territory, and its loss of more than 1,000 points last week was the largest weekly decline since October 2008. Crude oil touched as low as $39.86 a barrel before finishing at $40.45, down 2.1% on the day, while gold gained 0.7% to $1160 per ounce. Safe-haven buying of US government bonds pushed down the 10-year Treasury yield to 2.052% - the lowest level since April - from 2.084%. The US dollar plunged against most major currencies as traders became more doubtful about whether the US Federal Reserve will hike interest rates next month. The greenback lost over 1% against the euro and the yen. Regarding USD/JPY, the pair posted strong downward momentum after breaking below both the 120.00 and 119 levels. Both the declining 20- and 50-period intraday moving averages are maintaining the bearish bias. And the intraday RSI is capped by a declining trendline. As long as 120.55 holds as the key resistance, the pair is expected to head towards the first downside target at 117 .

Trading recommendations: The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 121.30. A break of that target will move the pair further downwards to 122.35. The pivot point stands at 120.55. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 121.30 and the second target at 122.35.
Resistance levels: 121.30 122.35 123
Support levels: 117 116.20 115.65

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of GBP/USD for August 26, 2015

On the daily chart, GBP/USD performed a pullback to the resistance level of 1.5761, after bullish momentum which this pair had recived in the beggining of the week. That is why we should be aware of a possible test around the level of 1.5640, where the pair could do another rebound. The MACD indicator is still at positive territory.

The pair is forming a lower low pattern below the resistance level of 1.5715. Currently, it is looking for strong dynamic support at the 200 SMA in the H1 chart. This could give another bullish breath to the pair in order to ride the overall bullish trend. The upside road shows that the resistance levels are found at 1.5715 and 1.5763. The MACD indicator becomes oversold.

Daily chart's resistance levels: 1.5761 / 1.5881

Daily chart's support levels: 1.5640 / 1.5543

H1 chart's resistance levels: 1.5715 / 1.5763

H1 chart's support levels: 1.5680 / 1.5632

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is seen at 1.5715, take profit is at 1.5763, and stop loss is at 1.5665.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Elliott wave analysis of EUR/NZD for August 27, 2015

Technical summary:
Small consolidation seen over the last couple of days does look like a small triangle. As we think the final rally in wave (iii) is still missed, we regard this triangle as red wave 8iv) and will be looking for one more rally higher in red wave iv to 1.9141. We are aware of the risk of being a b-wave triangle. In this case, we will see a break below support at 1.7426 in order to make a decline towards 1.6495.

Trading recommendation:
We will buy on a break above 1.7866 with stop placed at 1.7420 or we will sell on a break below support at 1.7426 with stop placed at 1.7870 (one order cancels the other)

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for August 28, 2015

When the European market opens, economic news about Italian 10-y Bond Auction, Spanish Flash CPI y/y, and German Prelim CPI m/m is due to release. The US will publish data on the Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Personal Income m/m, Personal Spending m/m, Core PCE Price Index m/m, and Goods Trade Balance. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1297.
Strong Resistance:1.1291.
Original Resistance: 1.1280.
Inner Sell Area: 1.1269.
Target Inner Area: 1.1243.
Inner Buy Area: 1.1217.
Original Support: 1.1206.
Strong Support: 1.1195.
Breakout SELL Level: 1.1189.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Elliott wave analysis of EUR/JPY for September 1, 2015

Technical summary:
There are still no changes in the view - We expect an upside breakout through the minor resistance at 136.62 confirming a continuation higher towards 139.02 and 141.06. A break below support at 135.23 could take place, but we think the downside potential should be limited. Only a break below the important support level of 133.27 will indicate a much more complex correction unfolding from a high of 141.06.

Trading recommendation:
We are long EUR from 136.42 with stop placed at 134.90. If you are not long EUR yet, buy a break above 136.62 with a stop at 135.60

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for September 02, 2015

When the European market opens, some economic news on the PPI m/m and Spanish Unemployment Change will be released .The US will unveile readings for Beige Book, Crude Oil Inventories, Factory Orders m/m, Revised Unit Labor Costs q/q, Revised Nonfarm Productivity q/q, and ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move with medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1350.
Strong Resistance:1.1344.
Original Resistance: 1.1333.
Inner Sell Area: 1.1322.
Target Inner Area: 1.1296.
Inner Buy Area: 1.1270.
Original Support: 1.1259.
Strong Support: 1.1248.
Breakout SELL Level: 1.1242.

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InstaForex Gertrude · Guru

US dollar leaps on volatile stock markets

The US dollar bounced Thursday as global investors scaled back on riskier equities, aggravated by China's devitalizing economy and its volatile stock markets. China's degenerating economy and woes about global growth pressed investors to cut bets in the euro and the Japanese yen. The greenback finished at $1.1210 per euro. Versus the Japanese yen, the dollar closed at ¥120.655. We believe additional easing is possible before the year ends. Such message should uphold sentiment, which so far has been a drag on risky assets, said strategists at Barclays. With China's markets shut for a national holiday, investors will now focus on the European Central Bank policy meeting today.

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InstaForex Gertrude · Guru

Daily analysis of GBP/USD for September 08, 2015

The pair is already trying to correct the decline that has been unfolding for several days. It could reach the 200 SMA on the H1 chart soon. That level is located at 1.5329, where a pullback could happen in order to gain fresh bearish momentum. There is an opportunity that GBP/USD will break the support level of 1.5272 and fall to 1.5220.

Daily chart's resistance levels: 1.5329 / 1.5479
Daily chart's support levels: 1.5181 / 1.5089
H1 chart's resistance levels: 1.5329 / 1.5402
H1 chart's support levels: 1.5272 / 1.5220

Trading recommendations for today:
Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5272, take profit is at 1.5220, and stop loss is at 1.5328.

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InstaForex Gertrude · Guru

Daily analysis of GBP/USD for September 09, 2015

GBP/USD is still moving inside a bullish corrective channel which is taking in place on the daily chart. It made a breakout at the level of 1.5329 to the upside. That is why we focus on the territory around 1.5479 in the mid- and short-term, which is the nearest resistance level in this time frame.

On the H1 chart, the pair is forming a higher high pattern above the support level of 1.5357, with a consolidation zone above the 200 SMA. The resistance level of 1.5402 is the closest one in the short term, where a breakout to the upside should happen in order to reach the next high at 1.5440.

Daily chart's resistance levels: 1.5479 / 1.5559

Daily chart's support levels: 1.5329 / 1.5181

H1 chart's resistance levels: 1.5402 / 1.5440

H1 chart's support levels: 1.5357 / 1.5319

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5357, take profit is at 1.5319, and stop loss is at 1.5393.

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InstaForex Gertrude · Guru

Technical analysis of USD/JPY for September 14, 2015

USD/JPY is expected to trade in a lower range. US stocks continued advancing on Friday with the Dow Jones Industrial Average gaining 0.6% to 16433, the S&P 500 rising 0.5% to 1961, and the Nasdaq Composite climbing 0.5% to 4822. Nymex crude oil dropped 2.8% to settle at $44.63 a barrel, gold fell 0.3% to $1107 a troy ounce, while the 10-year Treasury yield edged down to 2.191% from 2.222% on Thursday. While all eyes are on the US Federal Reserve interest rate decision at its September 16-17 meeting, the US dollar weakened against most other major currencies on Friday. The pair is trading below the key resistance at 120.95. Intraday technical indicators are mixed: the 20-period intraday moving average (MA) stays below the 50-period one, while the intraday relative strength indicator (RSI) is above the neutrality level of 50. As long as 120.95 holds as the key resistance, the pair is expected to show choppy price actions with a bearish bias. The first downside target is set at 119.60 (around the low of September 11); and the second one, at 119.10 (around the low of September 10).

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 119.60. A break of that target will move the pair further downwards to 119.10. The pivot point stands at 120.95. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 121.30 and the second target at 121.70.

Resistance levels: 121.70 122 122.50
Support levels: 119.90 119.60 119.20

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InstaForex Gertrude · Guru

Elliott wave analysis of EUR/NZD for September 15, 2015

Technical summary:
We do not see any changes here as we are still looking for a firm breakout above resistance at 1.7996 in order to perform the next rally higher to 1.8289 and even high to 1.8702 in wave iii of (v). In the short term, we expect minor support at 1.7777 to protect the downside for a breakout above 1.7996.

Trading recommendation:
We are long EUR from 1.7490 with stop placed at 1.7620. If you are not long EUR yet, buy on a break above 1.7996 and place you stop at 1.7775.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for September 16, 2015

When the European market opens, economic news on the German 30-y Bond Auction, Final Core CPI y/y, and Final CPI y/y is due to be published. The US will release data about the TIC Long-Term Purchases, Crude Oil Inventories, NAHB Housing Market Index, Core CPI m/m, and CPI m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1324.
Strong Resistance:1.1318.
Original Resistance: 1.1307.
Inner Sell Area: 1.1296.
Target Inner Area: 1.1270.
Inner Buy Area: 1.1244.
Original Support: 1.1233.
Strong Support: 1.1223.
Breakout SELL Level: 1.1216.

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InstaForex Gertrude · Guru

Elliott wave analysis of EUR/NZD for September 17, 2015

Technical summary:
A correction in wave ii has taken more time than first expected, but nothing else has changed. We are still looking for a break above resistance at 1.7866 to enable a rally towards at least 1.8288 and most likely even higher to 1.8682 in wave iii. Ideally, support at 1.7702 will be able to protect the downside for a breakout above 1.7866.

Trading recommendation:
We are long EUR from 1.7490 with stop at 1.7620. If you are not long EUR yet, then buy on a break above resistance at 1.7866 with stop placed at 1.7700.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of AUD/USD for September 18, 2015

Overview:
The AUD/USD pair rose from the strong level of 0.7140 and extended further to as high as 0.7172 yesterday, but it closed at the level of 0.7165 today. It should be noted that support is seen at 0.7140 because this level has also formed double bottom. Furthermore, the price set above 50% of Fibonacci retracement levels since last week. For that purpose, we expect a saturation around the level of 0.7140 or 0.7132. Hence, the market is likely to start showing the signs of a bullish bias again from this spot in order to indicate a bullish opportunity from the level of 0.7140 (50% of Fibonacci retracement levels in the H1 chart). Accordingly, buy above the level of 0.7140 with the first target at 0.7191 besides it will call for an uptrend in order to continue bullish movement towards 0.7250 in coming hours. On the other hand, if the bulls are forced to pull back below the level of 0.7125 and sellers can break this level, therefore the best solution is to set a stop loss at the 0.712.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for September 22, 2015

When the European market opens, economic news about the Consumer Confidence is due to be released. The US will publish economic data on the Richmond Manufacturing Index and HPI m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1240.
Strong Resistance:1.1234.
Original Resistance: 1.1223.
Inner Sell Area: 1.1212.
Target Inner Area: 1.1186.
Inner Buy Area: 1.1160.
Original Support: 1.1149.
Strong Support: 1.1138.
Breakout SELL Level: 1.1132.

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InstaForex Gertrude · Guru

Technical analysis of EUR/USD for September 22, 2015

When the European market opens, economic news about the Consumer Confidence is due to be released. The US will publish economic data on the Richmond Manufacturing Index and HPI m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1240.
Strong Resistance:1.1234.
Original Resistance: 1.1223.
Inner Sell Area: 1.1212.
Target Inner Area: 1.1186.
Inner Buy Area: 1.1160.
Original Support: 1.1149.
Strong Support: 1.1138.
Breakout SELL Level: 1.1132.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of GBP/USD for September 23, 2015

On the daily chart, GBP/USD continues to move lower across the support zone of 1.5344, where we should expect a rebound towards resistance zone of 1.5479. Currently, the bearish bias looks strong enough to reach another low below the support level of 1.5344 and pointing to the level of 1.5256. The MACD indicator is entering the neutral territory.

The intraday structure is still calling for more downside, because the cable is forming a lower low pattern below the 200 SMA on the H1 chart and the resistance level of 1.5417. A breakout below 1.5341 will push the pair to the level of 1.5285. The 200 SMA is currently moving in a bearish direction.

Daily chart's resistance levels: 1.5479 / 1.5559
Daily chart's support levels: 1.5344 / 1.5256
H1 chart's resistance levels: 1.5417 / 1.5468
H1 chart's support levels: 1.5341 / 1.5285

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5417, take profit is at 1.5468, and stop loss is at 1.5364.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Daily analysis of GBP/USD for September 24, 2015

GBP/USD is headed lower making new downside moves below the resistance level of 1.5256. It is expected to form a lower low pattern by the end of the week. Currently, our outlook remains bearish towards the support zone of 1.5169, where a rebound should happen in order to correct the current decline.

On the H1 chart, the pair is showing a bearish consolidation in place below the 200 SMA and this indicator is also pointing to the downside. A breakout below the support level of 1.5223 will enable the pair to test the level of 1.5166 in coming hours. The MACD indicator is entering the neutral territory.

Daily chart's resistance levels: 1.5256 / 1.5344
Daily chart's support levels: 1.5169 / 1.5030
H1 chart's resistance levels: 1.5285 / 1.5341
H1 chart's support levels: 1.5223 / 1.5166

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.5223, take profit is at 1.5166, and stop loss is at 1.5283.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for September 25, 2015

When the European market opens, some economic news will be released such as Private Loans y/y and M3 Money Supply y/y. The US will also release the economic reports such as the Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Flash Services PMI, Final GDP Price Index q/q, and Final GDP q/q. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1234.
Strong Resistance:1.1228.
Original Resistance: 1.1217.0
Inner Sell Area: 1.1206.
Target Inner Area: 1.1180.
Inner Buy Area: 1.1154.
Original Support: 1.1143.
Strong Support: 1.1132.
Breakout SELL Level: 1.1126.

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InstaForex Gertrude · Guru

Elliott wave analysis of EUR/JPY for September 28, 2015

Technical summary:
We are entering the final part of the decline from 141.06. Continue to look for a decline closer to 131.45 before a new impulsive rally takes place. In thr short term, we will be looking for a breakout below minor support at 134.75 as the first good indication that the move closer to 131.45 is developing, while a break below support at 134.10 will confirm the decline. Only an unexpected breakout above resistance at 136.03 will confirm that the bottom is already in place for renewed upside pressure.

Trading recommendation: Our stop at 134.95 was hit, but we will sell EUR again upon a break below 134.75 with stop placed at 135.50 and take profit at 131.65.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

Technical analysis of EUR/USD for September 29, 2015

When the European market opens, economic news about the Italian 10-y Bond Auction, Spanish Flash CPI y/y, German Prelim CPI m/m, and German Import Prices m/m is due to be released.The US will unveil economic data on the CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, and Goods Trade Balance. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1284.
Strong Resistance:1.1278.
Original Resistance: 1.1267.
Inner Sell Area: 1.1256.
Target Inner Area: 1.1230.
Inner Buy Area: 1.1204.
Original Support: 1.1193.
Strong Support: 1.1182.
Breakout SELL Level: 1.1176.

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InstaForex Gertrude · Guru

Technical analysis of USD/JPY for September 30, 2015

In Asia, Japan will release the Housing Starts y/y, Prelim Industrial Production m/m, and Retail Sales y/y. The US will publish economic data on Crude Oil Inventories, Chicago PMI, and ADP Non-Farm Employment Change. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with medium to high volatility during the US session.

TODAY TECHNICAL LEVELS:
Resistance. 3: 120.56.
Resistance. 2: 120.33.
Resistance. 1: 120.09.
Support. 1: 119.80.
Support. 2: 119.56.
Support. 3: 119.33.

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InstaForex Gertrude · Guru

Elliott wave analysis of EUR/NZD for October 1 - 2015

Technical summary:
We have seen a breakout below 1.7453, which was quite unexpected and that has shifted the picture from a potential bullish count to a bearish calling for more downside toward 1.6781 where this correction will have corrected 38.2% of a rally from 1.3881 to 1.8554. In the short term, we expect minor resistance at 1.74994 to protect the upside for a decline to 1.7070.

Trading recommendation:
Our stop at 1.7450 was hit for a small loss, We will sell EUR at 1.7480 with stop placed at 1.7580.

More analysis - at instaforex.com

InstaForex Gertrude · Guru

[B]Technical analysis of EUR/USD for October 02, 2015[/B]

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When the European market opens, some economic news on the PPI m/m and Spanish Unemployment Change is due to be released. The US is expected to publish economic data on Factory Orders m/m, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1245.
Strong Resistance:1.1240.
Original Resistance: 1.1229.
Inner Sell Area: 1.1218.
Target Inner Area: 1.1192.
Inner Buy Area: 1.1166.
Original Support: 1.1155.
Strong Support: 1.1144.
Breakout SELL Level: 1.1138.

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

InstaForex Gertrude · Guru

Elliott wave analysis of EUR/NZD for October 5, 2015

Technical summary:
Prices spiked higher on Friday due to the weak Non Farm Payrolls data, but only to resume an underlying decline towards at least a 38.2% corrective target at 1.6781. In the short term, we are watching for a break below 1.7294 (the bottom of wave i of C) to confirm wave iii moving lower to at least 1.7028. At this point, only an unexpected rally above 1.7650 will question the underlying bearish count.

Trading recommendation:
Our stop at 1.7580 was hit due to a price spike on Friday, but we remain bearish and still see a nice downside potential. So, we will like to short EUR at 1.7530 with a stop at 1.7660.

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InstaForex Gertrude · Guru

Technical analysis of USD/JPY for October 06, 2015

In Asia, Japan is not expected to release any economic data, but the US will deliver economic news on the IBD/TIPP Economic Optimism and Trade Balance. So, there is a strong probability that USD/JPY will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Resistance. 3: 121.12.
Resistance. 2: 120.88.
Resistance. 1: 120.64.
Support. 1: 120.35.
Support. 2: 120.11.
Support. 3: 119.87.

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InstaForex Gertrude · Guru

Elliott wave analysis of EUR/JPY for October 6 - 2015

Technical summary:
Yesterday , a breakout above 135.10 indicated that wave 2 ended at 132.23 and wave 3 higher was already developing. If this count is correct, support at 133.48 must protect the downside for a strong rally higher to at least 141.00 and possibly even higher. As wave (ii) of 3 was an expanded flat correction, we know that the likelihood of wave (iii) extending is very high. That means wave (iii) should be at least 161.8% times the length of wave (i). In the short term, we will ideally see support at 134.28, but we must accept the possibility of a deeper corrective decline from 135.71. A breakout below 133.48 will invalidate the bullish count.

Trading recommendation: We bought EUR at 135.10 and will place our stop at 133.45 expecting to raise it quickly. If you are not long EUR yet, buy EUR near 134.28 or upon a breakout above 135.71 using the same stop.

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