Instaforex Analysis

**InstaForex Gertrude** · 04-07-16, 09:20

NZD/USD Trading Recommendations 4th July 2016

Trading recommendations :
Sell at 0.7140
Stop loss at 0.7210
Take profit at 0.7020

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**InstaForex Gertrude** · 05-07-16, 09:21

Daily analysis of USDX for July 05, 2016

Yesterday was the US Independence holiday, but USDX struggled to break above the resistance level of 95.89. Currently, the index is being supported by the 200 SMA on H1 chart, where a bullish momentum is expected to take place in coming hours. If it happens, we foresee a breakout above the 95.89 level. However, if bears regain control, the index could test the 95.20 level.

H1 chart's resistance levels: 95.89 / 96.60
H1 chart's support levels: 95.20 / 94.37

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 95.89, take profit is at 96.60, and stop loss is at 95.17.

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**InstaForex Gertrude** · 06-07-16, 09:18

Technical analysis of NZD/USD for July 06, 2016

Overview:
The NZD/USD pair dropped sharply from the level of 0.7139 towards 0.7080. Now, the price is set at 0.7089. On the H1 chart, the resistance of NZD/USD pair is seen at the level of 0.7107 and 0.7037. It should be noted that volatility is very high for that the NZD/USD pair is still moving below the resistance level of 0.7107. Moreover, the price spot of 0.7107 remains a significant resistance zone. Therefore, there is a possibility that the NZD/USD pair will move downside and the structure of a fall does not look corrective. In order to indicate the bearish opportunity below 0.7107, sell below 0.7107 with the first target at 0.7075 in order to test yesterday's bottom. Besides, it should be noted that support 1 is seen at the level of 0.7075 which coincides with the daily pivot point. Additionally, if the NZD/USD pair is able to break out the bottom at 0.7075, the market will decline further to 0.7036 in order to test the weekly support 2. On the other hand, if a breakout happens at the resistance level of 0.7139, then this scenario may be invalidated.

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**InstaForex Gertrude** · 07-07-16, 09:19

Technical analysis of Gold for July 7, 2016

Gold price is trading inside a bullish channel. Price reached a new higher high as we had expected but still it is below $1,400. Price reached the resistance area and we might see a pullback towards $1,260 today. A deeper pullback towards $1,250-45 is also possible but overall trend remains strongly bullish.

Blue lines - bullish channel
In the short term, price remains in a strong uptrend above clouds and tenkan- and kijun-sen indicators. Support is at $1,260 and next, at $1,250. Resistance is at $1,270. I continue to be bullish targeting $1,400.

On the weekly chart, price reached the upper boundary of the expanding triangle and got rejected. A lower weekly low will be a reversal signal for gold price that could bring it even back towards $1,200. So bulls need to be very cautious.

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**InstaForex Gertrude** · 08-07-16, 09:16

Daily analysis of GBP/USD for July 08, 2016

The pair remains untouched in a bearish bias around the historical lows reached this week and now it's being supported by the 1.2858 level. A rebound above it can push the cable towards the psychological level of 1.3000. 200 SMA on H1 chart is still bearish and as long as the pair remains trading below that indicator, we could expect further declines.

H1 chart's resistance levels: 1.3000 / 1.3148
H1 chart's support levels: 1.2858 / 1.2750

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 1.3000, take profit is at 1.2858 and stop loss is at 1.3148.

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**InstaForex Gertrude** · 11-07-16, 08:51

Daily analysis of GBP/USD for July 08, 2016

Technical outlook and chart setups:
The EURJPY pair is seen to be trading at 112.10/20 levels at this moment, looking to continue rallying from here on. A bigger picture has been depicted here on the weekly chart view, which indicates that the next big move should be on the north side. As seen here, the pair has already completed the 5-3 structure since July 2012. A 5-wave rally was completed from 94.00 through 149.00 levels, and then an A-B-C zigzag correction also looks to be complete at 109.52 levels. Furthermore, the pair is getting support around fibonacci 0.618 levels as depicted here. It is hence recommended to remain long now, with risk below 109.00 levels. Immediate support is seen at 109.50 levels, while resistance is seen at 115.00 levels respectively. Bulls are expected to remain in control till the prices stay above 109.50 levels going forward.

Trading recommendations:
Remain long now, stop below 109.00, target is open.

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**InstaForex Gertrude** · 12-07-16, 09:24

Gold Technical Analysis for July 12, 2016

Technical outlook and chart setups:
Gold is trading lower for the day at $1,355.00 level at this moment, and should be looking to reverse lower from here or from $1,380.00/85.00 levels as depicted on the chart view. Please note that if the metal slips below $1,358.00 levels from here, it would be confirm that a meaningful top is in place at $1,375.00 levels. On the other hand, a rally from here should meet stiff resistance at $1,380.00/81.00 levels. It is hence recommended to remain short, with risk above $1,385.00 levels for now. Immediate resistance is seen at $1,380.00 levels, while support is at $1.350.00 levels respectively. In either case, please watch for a bearish reversal soon and expect bears to remain in control at least in the medium term.

Trading recommendations:
Remain short, stop above $1,385.00/86.00, target is open.

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**InstaForex Gertrude** · 13-07-16, 09:09

Technical analysis of USD/CHF for July 13, 2016

USD/CHF is expected to post some further advance. The pair broke above its 20-period and 50-period moving averages and accelerated on the upside. Meanwhile, the 20-period moving average crossed above the 50-period one and is playing a support role. Besides, the relative strength index stands above its neutrality area at 50 and lacks downward momentum. In conclusion, as long as 0.9820 is not broken, further upside is expected with the next horizontal resistance and overlap set at 0.9910 and 0.9950 in extension.

Resistance levels: 0.9910, 0.9950, 0.9990
Support levels: 0.9765, 0.9735, 0.9710

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**InstaForex Gertrude** · 14-07-16, 08:44

USD/JPY Trading Recommendations for 14th July 2016

We see new developments in our USD/JPY trade with the price reaching a good buying level which corresponds to our MACD ascending support level, with the price right on the support. This presents us a good signal to go bullish from here for a push up to 106.50, which is a fractal resistance level.

Trading recommendations:
Buy now and above 103.52
Take profit at 106.50
Stop loss at 101.90

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**InstaForex Gertrude** · 15-07-16, 08:54

Technical analysis of GBP/JPY for July 15, 2016

GBP/JPY is expected to extend its upside movement. The pair broke above its 20-period and 50-period moving averages and accelerated on the upside. The upward momentum is further reinforced by the rising 50-period moving average, which acts as support and maintains the upside bias. Besides, the relative strength index is bullish above its neutrality area at 50 and calls for further advance. In conclusion, as long as 139.50 serves as support, further upside is expected with the next horizontal resistance and overlap set at 144 and even 145.90 in extension.

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. Therefore, long positions are recommended with the first target at 144.00 and the second one, at 145.90. In the alternative scenario, short positions are recommended with the first target at 137.80 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 136.40. The pivot point is at 139.50.

Resistance levels: 144.00, 145.90, 146.80
Support levels: 137.80, 136.40, 135.65

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**InstaForex Gertrude** · 18-07-16, 08:31

Technical analysis of USD/CAD for July 18, 2016

General overview for 18/07/2016:
The wave progression is evolving towards a more complex and time-consuming pattern that looks choppy, full of whipsaws and false breakouts. It is still quite unclear whether the current downside wave pattern has been completed or not as none of the key levels has been clearly violated. To continue to the upside, the price would have to break out above the golden trend line and weekly pivot around the level of 1.2972. On the other hand, any violation of the intraday support at the level of 1.2860 will result in an immediate test of the next support at the level of 1.2829.

Support/Resistance:
1.2087 - WS1
1.2860 - Intraday Support
1.2972 - Weekly Pivot
1.2987 - Intraday Resistance
1.3085 - WR1
1.3138 - Local High

Trading recommendations:
Due to the unclear outlook, investors should refrain from trading and wait for a better trading setup to occur shortly.

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**InstaForex Gertrude** · 19-07-16, 09:12

Daily analysis of GBP/USD for July 19, 2016

On the H1 chart, USDX is trying to do a breakout above the resistance zone of 96.60, in a move that should open the doors to reach the critical level around the 97.74 area. However, the Index is still trapped in a sideways range, and it should not be a surprise to see a pullback towards the 95.89 level in coming days. The MACD indicator is favouring a possible near-term bearish scenario.

H1 chart's resistance levels: 96.60 / 97.74
H1 chart's support levels: 95.89 / 95.20

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 96.60, take profit is at 97.74 and stop loss is at 95.47.

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**InstaForex Gertrude** · 20-07-16, 08:55

Technical analysis of EUR/USD for July 20, 2016

When the European market opens, some economic news will be released such as Consumer Confidence, Current Account, and German PPI m/m. The US will release economic data too such as Crude Oil Inventories. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1064.
Strong Resistance: 1.1058.
Original Resistance: 1.1047.
Inner Sell Area: 1.1036.
Target Inner Area: 1.1010.
Inner Buy Area: 1.0984.
Original Support: 1.0973.
Strong Support: 1.0962.
Breakout SELL Level: 1.0956.

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**IFX Yvonne** · 21-07-16, 09:50

Technical analysis of USD/CAD for July 21, 2016

General overview for 21/07/2016:
The price has made another marginal high at the level of 1.3095, but it looks like the corrective pattern on wave (b) is completed. Currently, the market should start to develop another wave to the downside, and any violation of the level of 1.3011 will be the first clue that the wave (c) is in progress. The growing bearish divergence between the price and momentum oscillator is supporting the view.

Support/Resistance:
1.2087 - WS1
1.2972 - Weekly Pivot
1.3011 - Intraday Support
1.3035 - 61% Fibo
1.3095 - Intraday Resistance
1.3085 - WR1
1.3138 - Local High

Trading recommendations:
Day traders should consider opening sell orders from the level of 1.3035 with tight SL and TP open for now. The reason for the trade is wave (c) to the downside anticipation.

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**InstaForex Gertrude** · 22-07-16, 08:30

Techncial analysis of USD/CAD for July 22, 2016

General overview for 22/07/2016:
The wave (b) has evolved into a triple-three pattern, a more complex and time-consuming corrective cycle. Currently, the market should start to develop another wave to the downside, and any violation of the level of 1.3011 will be the first clue that the wave (c) is in progress. The growing bearish divergence between the price and momentum oscillator is supporting the view.

Support/Resistance: 1.2087 -
WS1 1.2972 - Weekly Pivot
1.3011 - Intraday Support
1.3035 - 61% Fibo
1.3085 - WR1
1.3112 - Intraday Resistance
1.3138 - Local High

Trading recommendations:
Day traders should consider opening sell orders from the level of 1.3013 with tight SL and TP open for now. The reason for the trade is wave (c) to the downside anticipation.

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**InstaForex Gertrude** · 25-07-16, 08:40

Technical analysis of USD/JPY for July 25, 2016

In Asia, Japan will release the Trade Balance, but the US will not release any economic data today. So there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Resistance. 3: 107.14.
Resistance. 2: 106.93.
Resistance. 1: 106.72.
Support. 1: 106.46
Support. 2: 106.25.
Support. 3: 106.04.

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.

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**InstaForex Gertrude** · 26-07-16, 08:52

Technical analysis of USD/CAD for July 26, 2016

General overview for 26/07/2016:

The current count has been slightly adjusted, and now the bottom for the wave X brown has been established at the level of 1.2861. This means the current upward wave development is the wave Y brown in progression. It looks like one more marginal high is needed before the top for this wave is in place. Nevertheless, as long as the golden trend line is now clearly violated and the intraday support at the level of 1.3056 is still providing support for bulls, the market might still be making marginal highs.

Support/Resistance:
1.3255 - WR1
1.3243 - Intraday Resistance
1.3090 - Weekly Pivot
1.3185 - Intraday Support
1.2998 - WS1
1.2835 - WS2

Trading recommendations:
Traders should refrain from opening new positions until a better trading setup occurs. The general bias, however, is bearish as the wave Y is about to complete.

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**InstaForex Gertrude** · 27-07-16, 08:19

Daily analysis of Gold for July 26, 2016

Overview
The gold price shows bullish rebound signals now in attempt to move away from the intraday bullish trend line shown on the chart. Stochastic positivity on the four-hour time frame supports our bullish trend expectations today. A breach of the 1,329.00 level will help the price continue with its upside track for the rest of the day. Our first main target is located at 1,375.00, and its breach will extend the bullish wave to 1,400.00 levels. The bullish trend will remain valid and active unless breaking and holding below 1,312.00 and then 1,297.75 levels. The expected trading range for today is between the 1,300.00 support and the 1,340.00 resistance.

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**InstaForex Gertrude** · 28-07-16, 08:22

Daily analysis of EUR/JPY for July 27, 2016

Overview
The EURJPY pair made a positive intraday rebound yesterday by reaching 117.10. The negativity continuation is due to steady trading within the main bearish channel, supported by holding the initial resistance at 118.50, besides the bearish channel's resistance decline towards 120.25. Therefore, we are awaiting negative momentum once again in order to push the price to decline below 115.10 levels and increase the chances of reaching the main target at 113.00. Closing above 117.00 could postpone the negative overview and lead to mixed trading. The expected trading range for today is between 117.00 and 113.00.

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**InstaForex Gertrude** · 29-07-16, 08:33

Daily analysis of major pairs for July 29, 2016

EUR/USD: The EUR/USD has assumed a bullish movement, which started on Wednesday. There is now a bullish bias in the market, and price could go further upwards, irrespective of the current bearish correction in the market, which is supposed to be transitory.

USD/CHF: The USD/CHF has finally generated a "sell" signal in the 4-hour chart. There is now a clean Bearish Confirmation Pattern in the chart, and price is expected to journey further south today or next week, reaching the support levels at 0.9800 and 0.9750. The resistance level at 0.9800 has been tested and it would be retested again

GBP/USD: This currency trading instrument has started to consolidate again. The price movement is flat and this is supposed to continue till next week (though there could be some near-term directional movement today). A significant movement is expected next week.

USD/JPY: A closer look on the USD/JPY reveals there is a hidden weakness in the market. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. This shows the possibility of a southward movement, which could happen anytime. Some fundamental figures are expected today and they could have impact on the markets.

EUR/JPY: Bulls are making some effort to push up the price in this market, and this is visible by the price action in the chart. While bulls might be able to push price upwards towards the supply zones at 117.00 and 117.50, coming fundamental figures might aid them or scuttle their plan.

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