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  1. #981
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    Elliott wave analysis of EUR/NZD for September 12, 2018

    The 1.7820 targets have now been tested. The question is whether this was the top of red wave iii and a correction in red wave iv is needed now? We have seen a quite massive negative divergence being build in the run higher to 1.7820, so it should come as no surprise if a minor correction in red wave iv is about to begin. A break below 1.7738 will indicate this is the case.

    That said, the rally to 1.7820 only represents the minimum extension target of red wave i. Therefore, we have to be equally ready for this extension to continue towards the next extension targets at 1.7954 (the 200% extension of red wave i) or even higher to the 261.8% extension target of red wave i at 1.8184.
    R3: 1.7954
    R2: 1.7900
    R1: 1.7825 Pivot: 1.7738
    S1: 1.7678
    S2: 1.7629
    S3: 1.7590

    Trading recommendation:
    We are long EUR from 1.7330 and we will move our stop higher to 1.7730.

    Analysis are provided by InstaForex

  2. #982
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    Intraday technical levels and trading recommendations for GBP/USD for September 13, 2018

    The recent bearish movement of the GBP/USD has shown signs of weakness since September 5 when an ascending bottom was established around 1.2800

    The GBP/USD pair is currently testing the depicted downtrend line which comes to meet the pair around 1.3025-1.3090.

    This price zone (1.3025-1.3090) corresponds to 50% and 61.8% Fibonacci levels where evident bearish rejection should be anticipated.

    As long as sings of bearish rejection are demonstrated below 1.3020 (50% Fibo level), the short-term outlook remains bearish towards 1.2840 and 1.2780.

    On the other hand, successful bullish breakout above 1.3090 will probably hinder the current bearish movement allowing further bullish advancement to occur towards 1.3200, 1.3250 and 1.3315.

    Analysis are provided by InstaForex

  3. #983
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    Elliott wave analysis of EUR/NZD for September 24, 2018

    EUR/NZD should stay above the peak of red wave i at 1.7488 for the next impulsive rally towards 1.8031. If an unexpected break below 1.7488 is seen, the we will have to make a recount of the rally from 1.6534 and count the rally as a series of waves ones and twos. This is not our preferred count, but it remains a possibility as long as re stay below 1.7783. A break above here will confirm that the next impulsive rally is developing higher towards 1.8030 and longer term closer to 1.8369.

    R3: 1.7711
    R2: 1.7680
    R1: 1.7650
    Pivot: 1,7620
    S1: 1.7586
    S2: 1.7539
    S3: 1.7488

    Trading recommendation:

    We are long EUR from 1.7615 with our stop placed at 1.7515. If you are not long EUR yet, the wait and buy a break above 1.7680 and start by using a stop, just below the most recent low.

    *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

    Analysis are provided by InstaForex

  4. #984
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    Elliott wave analysis of EUR/NZD for September 28, 2018

    The daily trading range is getting smaller and smaller, indicating that energy is building for the next larger move towards the upside. A break above minor resistance at 1.7685 will be the first good indication, that the next impulsive rally towards 1.8030 is developing, while a break above resistance at 1.7732 will confirm this rally is well underway. Support at 1.7580 should continue to protect the downside for the expected break above 1.7685 and above.

    R3: 1.7823
    R2: 1.7783
    R1: 1.7732
    Pivot: 1.7685
    S1: 1.7651
    S2: 1.7626
    S3: 1.7580

    Trading recommendation:

    We are long EUR from 1.7615 with our stop placed at 1.7515. Upon a break above 1.7732 we will move our stop higher to 1.7575. We will take profit on half our position at 1.8000.

    Analysis are provided by InstaForex

  5. #985
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    Trump won an important victory - concluded a new trade agreement with Canada and Mexico

    At the last moment, one day before the expiration of the NAFTA agreement, the representatives of the USA and Canada managed to reach an agreement. A new trade agreement between the US, Mexico, and Canada was formed - the USMCA agreement (by the names of the participating countries).

    Trump managed to get from Canada concessions on access to the Canadian dairy market for US farmers, as well as, for car manufacturers and on the protection of intellectual property.

    This is a very important success for Trump - before the by-election to Congress in November, against the backdrop of the extremely tough US-China trade war unleashed by Trump. Just a week ago, the United States introduced duties for 200 billion dollars of goods from China in response to 60 billion dollars of goods from the United States.

    Trump is critical that Republicans win in November and retain a majority in the lower house of Congress. Otherwise, Trump will become a "lame duck" two years before the US presidential election and the mood of voters is determined by the economy.

    The US-Canada-Mexico market is huge, amounting to $ 1 trillion of Import-exports per year.

    Analysis are provided by InstaForex

  6. #986
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    Elliott wave analysis of EUR/NZD for October 8, 2018



    There was no time for a correction and EUR/NZD is moving directly higher towards the next target at 1.8030. Support is now seen at 1.7800 and again at 1.7758, only a break below the later support will indicate a deeper correction towards 1.7643 unfolding, before the next advance towards the 1.8369 target.

    R3: 1.8100
    R2: 1.8030
    R1: 1.7900
    Pivot: 1.7800
    S1: 1 7758
    S2: 1.7692
    S3: 1.7642

    Trading recommendation:
    We are long half a position from 1.7500 and we will move our stop higher to 1.7725.

    Analysis are provided byInstaForex.

  7. #987
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    Elliott wave analysis of EUR/NZD for October 11, 2018



    The break above resistance at 1.7847 told us that the corrective decline from 1.7929 had completed prematurely and a new impulsive rally towards 1.8030 and 1.8369 should be unfolding.

    Despite our expectation of a new impulsive rally towards 1.8030, we should be aware of the possibility of a more complex correction unfolding, but the minimum upside target should be 1.7929 if a larger flat correction is in the making.

    R3: 1.8030
    R2: 1.7960
    R1: 1.7929
    Pivot: 1.7882
    S1: 1.7835
    S2: 1.7800
    S3: 1.7774

    Trading recommendation:
    We are long EUR from 1.7847 and we will place our stop at 1.7780. Upon a break above 1.7882 will will move our stop to break-even at 1.7847.


    Analysis are provided byInstaForex.

  8. #988
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    Elliott wave analysis of EUR/JPY for October, 2018

    EUR/JPY has seen a low at 129.12 and we are now looking for a break above minor resistance at 129.80 and more importantly a break above short-term important resistance at 130.51. It will confirm that blue wave (2) has completed and blue wave (3) towards 138.10 is developing.
    Support is now seen at 129.34 and then at 129.12.
    R3: 130.85
    R2: 130.51
    R1: 130.05
    Pivot: 129.80
    S1: 129.34
    S2: 129.12
    S3: 128.99

    Trading recommendation: We will buy EUR at 129.10 or upon a break above 129.80.

    Analysis are provided by InstaForex

  9. #989
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    GBP/USD. October 15th. Results of the day. The fate of the pound may be decided at the summit on October 17-18

    4-hour timeframe

    The amplitude of the last 5 days (high-low): 105 p-117 p-79 p-66 p-111 p.

    Average amplitude over the last 5 days: 96 PT (97 p). The British pound opened today with a large "gap" down, but managed to close it during the day.

    In principle, the technical picture of the last two days for EUR/USD and GBP/USD pairs is the same. The only difference is that the pound is more volatile. At the moment, the price has consolidated back above the Kijun-sen line, which may mean the completion of a deep correction and the resumption of an uptrend. However, the MACD indicator is still pointing down (!!!), which is due to the formation of a "gap" at the opening of the market. Thus, the indicator readings are simply incorrect now. As for the fundamental component, in addition to the report on retail sales in the US, which slightly increased the demand for the pound during the day, there is nothing to note today. Even no new rumors about Brexit has not been received. Thus, market participants are fully focused on the summit, which will be held on 17-18 October, and which is highly likely to be either signed an agreement or negotiations will fail completely. Of course, everyone, especially traders, now believe that the "deal" will be signed. But we think the odds are about 50/50. If the parties could easily concede on the Northern Ireland border, they would have done so long ago. Nobody wants to give in, and Britain needs the "deal" first. But additional concessions to the European Union will lower Theresa May's political ratings even more. Not everyone is happy with her rule and negotiations in the UK.

    Trading recommendations:

    The GBP/USD currency pair seems to have completed the correction, but the breakdown of the Kijun-sen line may be false, given the nature of the next bar. Thus, now it is recommended to hurry with the opening of new longs, it is better to wait for clarification of the situation.

    Sell positions are relevant as long as the price is below the Kijun-sen line. But MACD did not react to the upward correction and now can not signal its completion with a turn down.

    In addition to the technical picture should also take into account the fundamental data and the time of their release.

    Explanation of the illustration:

    Ichimoku indicator:

    Tenkan-sen - the red line.

    Kijun-sen - the blue line.

    Senkou Span A - light brown dotted line.

    Senkou Span B - light purple dotted line.

    Chinkou Span - green line.

    Bollinger Bands indicator:

    3 yellow lines.

    MACD Indicator:

    Red line and histogram with white bars in the indicator window.

    News are provided by InstaForex

  10. #990
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    GBP/USD: turned away from the pound

    Wednesday's trading day is marked by uncertainty. The dollar is gaining momentum ahead of the publication of the latest minutes of the Federal Reserve, and the pound and defensive instruments are waiting for the outcome of the EU summit. General nervousness plays in favor of the US currency, especially after the recovery of the US stock market. The British currency, in turn, is not only under the pressure of negative rumors about Brexit, but also due to the slowdown of inflation indicators. There was no trace of yesterday's optimism, after which the GBP/USD pair headed towards the 30th figure.

    Meanwhile, there are no results of the key summit yet: only a working dinner will be held tonight, while Theresa may is holding bilateral meetings with its participants. Therefore, the main statements will be announced or closer to the night or (most likely) by tomorrow. But the pound is already getting cheaper throughout the market, as negative forecasts regarding the Brussels meeting began to prevail in the information field. For example, German Chancellor Angela Merkel said today that Germany has begun preparations for a chaotic Brexit, as the issue of the Irish border remains an insurmountable stumbling block. The head of the European Council Donald Tusk yesterday took a similar position, adding that the probability of "hard" Brexit is high as ever.

    Representatives of other countries are less categorical, but most of them are wary of the upcoming negotiations. Increasingly, there are thoughts that the parties need a time gap until November, December or even January. It is difficult to say whether the rhetoric of the Europeans is a "strategic maneuver" on the eve of the main negotiations, but, apparently, the parties do not really expect any breakthrough from the October meeting.

    According to a number of experts, there is an elementary "game of nerves": despite the fact that the parties planned to reach a compromise in September, the so-called "red line" is still relatively far away. Therefore, so far it is possible to exhaust each other with threats of chaotic Brexit with all the ensuing consequences. Such behavior is a risk, as after another failure in Brussels under Theresa May could once again stagger the prime minister's chair, not only in opposition to the labour, as there are many representatives of the Conservative Party who oppose her.

    Analysis are provided by InstaForex

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