Instaforex Analysis

**InstaForex Gertrude** · 17-11-15, 08:05

Elliott wave analysis of EUR/JPY for November 17, 2015

Wave summary:
We continue watching for renewed downside pressure as the next impulsive decline towards 124.54 unfolds. We have seen the first minor impulsive wave (wave i) to 130.64 and wave ii is currently unfolding. Ideally, wave ii will stay below minor resistance at 132.30 for the next impulsive wave lower towards at least 128.78 and even lower to 126.65 in wave iii of (iii). Resistance at 132.76 now needs to protect the upside or an even more complex correction in wave (ii) than already seen is unfolding.

Trading recommendation:
We are short EUR from 132.09 and will move our stop lower to 132.80. If you are not short EUR already then sell near 132.30 with the same stop at 132.80.

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**InstaForex Gertrude** · 20-11-15, 06:43

Daily analysis of GBP/JPY for November 19, 2015

Overview:
A sharp rise in GBP/JPY and a breakout of resistance at 188.28 invalidated our bearish view. Rebound from 180.36 is resuming and intraday bias is back on the upside. A further rally towards resistance at 195.86 would be seen again. In case of retreat, we will stay cautiously bullish as long as support at 185.98 holds. The breach of the medium-term trend-line support is taken as a sign of trend reversal. This is supported by bearish divergence condition in the weekly MACD. Also, GBP/JPY was close to key cluster resistance of 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to the psychological level of 200. A breakout of 174.86 will confirm trend reversal and bring a deeper fall to 38.2% retracement of 116.83 to 195.86 at 165.67. In case of another rise, we will be cautious on strong resistance from 199.80/200.00, which can finally bring reversal.

Daily Pivots: (S1) 187.59; (P) 187.92; (R1) 188.58;

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**InstaForex Gertrude** · 20-11-15, 07:53

Technical analysis of EUR/USD for November 20, 2015

When the European market opens, economic news on the Consumer Confidencem, German PPI m/m, and ECB President Draghi Speaks is due to be published. The US will not release any economic data today. So amid the reports, the EUR/USD pair will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.0769.
Strong Resistance:1.0763.
Original Resistance: 1.0752.
Inner Sell Area: 1.0741.
Target Inner Area: 1.0716.
Inner Buy Area: 1.0691.
Original Support: 1.0680.
Strong Support: 1.0669.
Breakout sell level: 1.0663.

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**InstaForex Gertrude** · 21-11-15, 07:22

Daily analysis of Silver for November 20, 2015

Overview
The EMA50 continues forming good resistance barrier against the silver price's attempts. It keeps the bearish bias valid on an intraday and short-term basis, waiting for testing the previously recorded low at 13.96 as a next main station. Stochastic offers a negative signal now, which supports extending of the bearish trend towards 13.50 followed by 13.00 areas. Holding below the 14.85 level is important to achieve the suggested targets. The silver price hovers around the EMA50 keeping its stability below to keep the negative pressure valid on an intraday and short-term basis. Its targets begin at 13.96 and extend to

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**InstaForex Gertrude** · 23-11-15, 08:26

Elliott wave analysis of EUR/JPY for November 23, 2015

Wave summary:
We continue to watch for a bottom for a rally towards 137.07. If a diagonal count is correct, then support at 130.13 should be able to protect the downside for a rally above 132.27 and more importantly a break above the resistance at 132.76 confirming the rally towards 137.07. Should the support at 130.13 be broken the diagonal/wedge count is invalidated and downside acceleration towards 126.05 should be expected.

Trading recommendation: We are long EUR from 131.25 with stop placed at 130.50. If you are not long EUR yet, then buy on a break above 132.27 and use the same stop, but expected to be raised quickly.

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**InstaForex Gertrude** · 24-11-15, 08:07

Japan Manufacturing Growth At 20-Month High

Japan's manufacturing activity expanded at the fastest pace in twenty months in November, as output growth quickened, the latest flash survey from Markit Economics showed Tuesday. The Markit/ Nikkei Manufacturing Purchasing Managers' Index, or PMI, rose to 52.8 in November from 52.4 in October. A score above 50 indicates expansion in the sector. Manufacturing output cotniuned to grow sharply in November and the latest rate of increase was the fastest since March 2014. At the same time, new orders rose at a slower rate in November, while growth in exports orders accelerated to a five-month high. On the price fornt, input prices climbed at the fastest rate in four months, although inflation remained historically muted. The final manufacturing PMI figures will be published on 1st December

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**InstaForex Gertrude** · 24-11-15, 08:25

Daily analysis of GBP/USD for November 24, 2015

The pair is extending losses below the 200 SMA, as we can see on the H1 chart. Currently, the support level of 1.5100 should be challenged in order to reach another low towards the zone of 1.5062. This moving average is also pointing to the downside, so bears are still getting favored by the main bias. The MACD indicator is reaching the neutral territory and that is why we should be aware of future sideways short-term moves.

H1 chart's resistance levels: 1.5142 / 1.5205
H1 chart's support levels: 1.5100 / 1.5062

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 found at 1.5100, take profit is at 1.5062, and stop loss is at 1.5138.

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**InstaForex Gertrude** · 25-11-15, 08:12

Technical analysis of EUR/USD for November 25, 2015

When the European market opens, economic news on the German 10-y Bond Auction, Italian Retail Sales m/m is due to be released. The US will unveil the economic data on the Natural Gas Storage, Crude Oil Inventories, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, New Home Sales, Flash Services PMI, HPI m/m, Personal Income m/m, Personal Spending m/m, Durable Goods Orders m/m, Core PCE Price Index m/m, Unemployment Claims, and Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS: Breakout buy level: 1.0701. Strong Resistance:1.0694. Original Resistance: 1.0684. Inner Sell Area: 1.0674. Target Inner Area: 1.0648. Inner Buy Area: 1.0623. Original Support: 1.0613. Strong Support: 1.0603. Breakout sell level: 1.0596.

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**InstaForex Gertrude** · 26-11-15, 08:15

Daily analysis of USDX for November 26, 2015

On H1 chart, USDX tried to consolidate again above the 100.00 price zone, but the Index is trying to correct the current rally towards the 200 SMA around the support level of 99.25. If USDX does a rebound above it, then we could see another rally above the 100.24 level in the short term. That moving average is slightly bullish, but MACD indicator is on the negative territory.

H1 chart's resistance levels: 99.80 / 100.24
H1 chart's support levels: 99.25 / 98.82

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 99.80, take profit is at 100.24, and stop loss is at 99.37.

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**InstaForex Gertrude** · 27-11-15, 07:47

Technical analysis of EUR/USD for November 27, 2015

Overview:
The EUR/USD pair is still trading between the levels of 1.0674 and 1.0587. The level of 1.0674 will indicate strong resistance; moreover, the pair is likely to find minor support level of 1.0587. Therefore, it will be quite profitable to sell at 1.0674 again (short term) with the first target at 1.0587, then it will continue towards 1.0565. Also, it should be noted that strong support was found at 1.0528 in the H1 chart. On the other hand, if the pair closes above the resistance level, then the best location for placing a stop loss is seen above 1.0674. In addition, please be aware that the trend has broken the daily support 1 and 2, for that it calls for a bearish market. Equally important is that the RSI and the Moving Average (100) are still calling for a downtrend from the area of 1.0680.

Trading recommendations: The area of 1.0680 has marked a strong support spot for that it will of the wisdom to go short below the level of 1.0680 with targets at 1.0587, 1.0565, and 1.0530. However, the stop loss should be place at 1.0696.

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**InstaForex Gertrude** · 02-12-15, 08:12

Technical analysis of USD/CHF for December 02, 2015

The USD/CHF pair is expected to trade with a bullish above 1.0245. The pair is now trading sideways within an intraday range, but stands firmly above its key support at 1.0250, which has been tested for at least 4 times. The intraday relative strength index is mixed calling for caution. We should keep a close eye on the threshold at 1.0245, as long as it is not broken, look for a technical rebound to 1.0330 and 1.0370.

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 1.0330 and the second target at 1.0370. In the alternative scenario, short positions are recommended with the first target at 1.0220 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 1.0195. The pivot point is at 1.0260.

Resistance levels: 1.0330 1.0370 1.0410
Support levels: 1..0220 1.0195 1.0170

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**InstaForex Gertrude** · 04-12-15, 08:00

Daily analysis of USDX for December 04, 2015

On the H1 chart, the USDX had a very bearish reaction after the ECB meeting and that is why we can currently observe a sharp drop towards the support level of 97.60, where a temporal bottom is found. However, we can expect a corrective move until the resistance zone of 98.80 in which a breakout could open the doors to test the level of 99.25. The MACD indicator is reaching oversold conditions.

H1 chart's resistance levels: 98.80 / 99.25
H1 chart's support levels: 97.60 / 97.01

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks with a bullish candlestick; the resistance level is seen at 98.80, take profit is at 99.25, and stop loss is at 98.34.

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**InstaForex Gertrude** · 05-12-15, 06:15

Global macro overview

Global macro overview for 04/12/2015:
The Non Farm Payrolls release is scheduled for 1:30 pm GMT today . Market participants expect quite nice improvement in number of jobs created: 271 K is expected versus 201 K month before. Moreover, the average hourly earnings are forecasted to rise from 0.2% to 0.4%. The unemployment rate should stay unchanged at the level of 5.0%. Please notice this jobs report is the last one before the Federal Reserves opportunity to raise rates on December 16. If the numbers come in in line or better then expected, the Fed will have green light to raise the short-term interest rates at its next meeting.
The US dollar index declined yesterday to the support level of 98.34 and broke slightly below it. The next support is seen at the level of 97.82.

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**InstaForex Gertrude** · 07-12-15, 08:21

Technical analysis of GBP/JPY for December 07, 2015

GBP/JPY is expected to trade with a bullish bias above 185.50. A support base at 185.50 was formed allowing temporary stabilization. The pair is expected to look for a higher top as the relative strength index is well directed. Further upside movement is therefore expected with the next horizontal resistance and overlap set at 186.55 first. A breakout above this level would call for further advance towards 187.

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 186.55 and the second target at 187. In the alternative scenario, short positions are recommended with the first target at 185.05 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 184.55. The pivot point is at 185.50. Resistance levels: 186.55 187 187.75 Support levels: 185.05 184.55 184

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**InstaForex Gertrude** · 08-12-15, 08:16

Elliott wave analysis of EUR/JPY for December 8, 2015

Wave summary:
EUR/JPY failed to test the leading diagonal resistance-line, which has prolonged the correction from 134.59 and keeps a window open for a deeper correction lower to 132.88 before the next move higher towards 136.69 to the the corrective rally of the wave (i) low at 129.62. Only a direct breakout above minor resistance at 134.12 will indicate a new test of a high of 134.95 and above here confirming the rally higher towards 136.69.

Trading recommendation: Our stop at 133.50 was hit for a small loss. We will re-buy EUR at 132.95 or upon a breakout above 134.12 (one order done cancels the other).

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**InstaForex Gertrude** · 10-12-15, 06:52

Daily analysis of Silver for December 09, 2015

Overview
The silver price continues fluctuating near the previously breached minor bearish channel's resistance level, keeping its stability above this level. It keeps the bullish trend scenario valid and active for today. It depends on the stability above the 13.96 level, while its main target is located at 14.85. Remember to monitor the price behavior when reaching any of the above-mentioned levels as breaching the 14.85 level will lead the price to achieve more gains. Breaking of 13.96 represents the key of resuming the main bearish trend, which next targets are located at 13.50 then 13.00. On the other hand, you should take into consideration that breaking of the 13.96 level will stop the suggested rise and push the price to decline again.

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**InstaForex Gertrude** · 10-12-15, 08:13

Technical analysis of Gold for December 10, 2015

Technical outlook and chart setups:
Gold is trading around $1,072.00/73.00 now looking for an opportunity to drop lower to the levels of $1,060.00/62.00 before resuming its previous rally. Please note that Fibonacci 0.618 support of the rally between $1,045.00 and $1,090.00 also falls around the levels of $1,060.00. Furthermore, the immediate resistance line turned support. It is recommended to exit short positions and remain flat now. Look for an opportunity to go long around the levels of $1,060.00/62.00with risk below $1,045.00. Immediate support is seen at $1,060.00 followed by $1,045.00, while resistance is seen at $1,090.00.

Trading recommendations: Exit short positions and remain flat now. Look for an opportunity to initiate long positions around the levels of $1,060.00 with stop at $1,042.00, a target is open.

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**InstaForex Gertrude** · 14-12-15, 07:30

Daily analysis of GBP/USD for December 14, 2015

The GBP/USD pair is forming a higher high pattern above the support level of 1.5181, after a bullish consolidation performed above the 200 SMA on the H1 chart. However, the pair is trying to do some consolidation moves in a slow bias, so we should be aware of any deeper pullbacks that could make this pair to test the support level of 1.5122. The MACD indicator is at the positive territory.

H1 chart's resistance levels: 1.5238 / 1.5302
H1 chart's support levels: 1.5181 / 1.5122
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 1.5238, take profit is at 1.5302, and stop loss is at 1.5178.

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**InstaForex Gertrude** · 15-12-15, 08:45

Elliott wave analysis of EUR/JPY for December 15, 2015

Wave summary:
An anticipated correction in wave b seems to end just before the 50% corrective target at 132.11 (the low of 132.48), a breakout above minor resistance at 133.34 will be the first good indication that wave b is over, while a breakout above resistance at 133.77 will be needed to confirm that wave b is over and wave c is headed higher towards at least 135.34 and even 136.69. Support is found at 132.80 and should protect the downside for a breakout above 133.34. Trading recommendation: We will buy at 132.90 or upon a breakout above 133.77 with stop at 132.40.

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**InstaForex Gertrude** · 16-12-15, 07:59

Daily analysis of USDX for December 16, 2015

On the H1 chart, the USDX is preparing to do a pullback at the 200 SMA, because of the current weakness, but bear in mind the index could try an intraday consolidation above the 200 SMA to face resistance in the zone of 98.80. In another scenario, a pullback can send the USDX to visit the support level of 97.01. The MACD indicator is overbought.

H1 chart's resistance levels: 98.14 / 98.80
H1 chart's support levels: 97.60 / 97.01

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX breaks with a bearish candlestick; the support level is found at 97.60, take profit is at 97.01, and stop loss is at 98.21.

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