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  1. #961
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    Technical analysis: Intraday Level For EUR/USD, July 31, 2018

    When the European market opens, some Economic Data will be released such as Unemployment Rate, Italian Prelim CPI m/m, Prelim Flash GDP q/q, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, German Unemployment Change, Spanish Flash GDP q/q, French Prelim CPI m/m, and German Retail Sales m/m. The US will release the Economic Data too such as CB Consumer Confidence, Chicago PMI, S&P/CS Composite-20 HPI y/y, Personal Income m/m, Personal Spending m/m, Employment Cost Index q/q, and Core PCE Price Index m/m, so amid the reports, EUR/USD will move in a medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1765.
    Strong Resistance:1.1758.
    Original Resistance: 1.1757.
    Inner Sell Area: 1.1736.
    Target Inner Area: 1.1708. Inner
    Buy Area: 1.1680.
    Original Support: 1.1669.
    Strong Support: 1.1658.
    Breakout SELL Level: 1.1651.

    Analysis are provided by InstaForex

  2. #962
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    Elliott wave analysis of EUR/NZD for August 1, 2018

    EUR/NZD tried to break above short-term important resistance at 1.7205 but failed. We think it is just a matter of time before a new attempt to break above this resistance is seen. A firm break above resistance at 1.7205, will confirm that red wave ii has completed and that red wave iii towards 1.7510 and above is developing.

    Short-term, support remains seen at 1.7134 and 1.7116. The later should continue to protect the downside for the expected break above 1.7205. An unexpected break below 1.7116, will indicate that black wave ii/ still is in motion for a spike lower to 1.7066 before turning higher in black wave iii/.

    R3: 1.7268
    R2: 1.7207
    R1: 1.7185
    Pivot: 1.7165
    S1: 1.7137
    S2: 1.7116
    S3: 1.7106

    Trading recommendation:
    We are long EUR from 1.7226 with our stop placed at 1.7110. If you are not long EUR yet, then buy a break above 1.7205 and use the same stop at 1.7110.

    Analysis are provided by InstaForex

  3. #963
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    Elliott wave analysis of EUR/JPY for August 6, 2018

    EUR/JPY has moved just below the lower boundary at 128.66 (the low has been seen at 158.49). This does fulfill all requirements for our slightly preferred scenario, meaning that a low should be in place for wave ii/ and a new impulsive rally in wave iii/ should be ready to develop. Wave iii/ will ideally make it to 135.74 and possibly even higher.

    That said, we need to remember that prices need to prove themselves for a strong rally above 129.62. The possible alternate scenario still remains possible. Under this count, wave ii still is developing as an expanded flat correction. If this count is correct, then we should expect resistance near 129.62 will cap the upside for a final decline towards 126.01 to complete wave ii before wave iii will be ready to take over.

    R3: 129.62
    R2: 129.18
    R1: 129.00
    Pivot: 128.77
    S1: 128.50
    S2: 128.11
    S3: 127.69

    Trading recommendation:
    Our stop at 128.50 was hit for a 45 pips loss. We will re-buy EUR here at 128.72 and place our stop at 128.45.

    Analysis are provided by InstaForex

  4. #964
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    Elliott wave analysis of EUR/NZD for August 8, 2018

    EUR/NZD is once again testing important resistance at 1.7224, but we need a clear break above here to confirm that the next impulsive rally towards 1.7510 is in motion. As long as resistance at 1.7224 is able to cap the upside as long does the possibility for a final drop into the 1.7033 - 1.7066 area exist, before completing wave ii/.

    Longer-term, we remain bullish EUR/NZD for a rally towards 1.8310 and ultimately higher towards 1.98 - 1.99 area.

    R3: 1.7305
    R2: 1.7251
    R1: 1.7224
    Pivot: 1.7187
    S1: 1.7150
    S2: 1.7115
    S2: 1.7094

    Trading recommendation:
    We are long EUR from 1.7226 with our stop placed at 1.7110.

    Analysis are provided by InstaForex

  5. #965
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    Elliott wave analysis of EUR/NZD for August 10, 2018

    After some sideways consolidation between 1.7352 - 1.7448 more upside will be expected towards the next minor upside targets at 1.7924 on the way higher towards 1.8369 and 1.8423.

    Support is now seen at 1.7404 and again at 1.7352. Ideally the later will be able to protect the downside for a clear break above 1.7480 confirming the next part of the uptrend towards 1.7924.

    Only a break below support at 1.7301 will question the expected rally higher.

    R3: 1.7667
    R2: 1.7564
    R1: 1.7480
    Pivot: 1.7437
    S1: 1.7404
    S2: 1.7388
    S3: 1.7352

    Trading recommendation:
    We are long EUR from 1.7226 and we will raise our stop to 1.7275.

    Analysis are provided by InstaForex

  6. #966
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    Technical analysis: Intraday Level For EUR/USD, Aug 13, 2018

    When the European market opens, there will be no Economic Data released, but the US will release the Economic Data such as Mortgage Delinquencies, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1451.
    Strong Resistance:1.1444.
    Original Resistance: 1.1433.
    Inner Sell Area: 1.1422.
    Target Inner Area: 1.1395.
    Inner Buy Area: 1.1368.
    Original Support: 1.1357.
    Strong Support: 1.1346.
    Breakout SELL Level: 1.1339.


    Analysis are provided by InstaForex

  7. #967
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    Elliott wave analysis of EUR/NZD for August 14, 2018

    We are looking for red wave ii to complete in the 1.7196 - 1.7258 target-zone. Once this correction is complete a new impulsive rally to above 1.7487 is expected for a continuation higher to 1.7924 and 1.8369 as the next upside important upside targets. Short-term only a break above minor resistance at 1.7356 will indicate that a corrective low has been seen for red wave ii and red wave iii is taking over for a rally to above 1.7487.

    R3: 1.7487
    R2: 1.7417
    R1: 1.7355
    Pivot: 1.7322
    S1: 1.7258
    S2: 1.7226
    S3: 1.7196

    Trading recommendation:
    We will re-buy EUR at 1.7245 or upon a break above 1.7356.

    Analysis are provided by InstaForex

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    Elliott wave analysis of EUR/NZD for August 15, 2018

    After a dip to 1.7220 all requirements for the correction in red wave i has been fulfilled. Therefore we are looking for a break above resistance at 1.7355 to confirm that red wave iii is developing for a break above the peak at 1.7484 as EUR/NZD moves higher towards 1.7924 and 1.8369.

    Short-term support is seen at 1.7243, this support should ideally be able to protect the downside, for the expected rally higher. If, however, a break below 1.7243 is seen, a final dip closer to 1.7196 should be expected to complete red wave ii.

    R3: 1.7487
    R2: 1.7417
    R1: 1.7355
    Pivot: 1.7299
    S1: 1.7270
    S2: 1.7243
    S3: 1.7220

    Trading recommendation:
    We are long EUR from 1.7245 with our stop placed at 1.7215.


    Analysis are provided by InstaForex

  9. #969
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    Elliott wave analysis of EUR/NZD for August 16, 2018

    A break above resistance at 1.7355 is still needed to confirm that red wave ii has completed and red wave iii to above 1.7484 is developing.

    Short-term, we see support at 1.7262 and again at 1.7238. The later will ideally be able to protect the downside for the break above 1.7355 towards 1.7484 and above, with the next important targets seen at 1.7924 and 1.8369.

    R3: 1.7484
    R2: 1.7417
    R1: 1.7355
    Pivot: 1.7299
    S1: 1.7270
    S2: 1.7243
    S3: 1.7220

    Trading recommendation: We are long EUR from 1.7245 with our stop placed at 1.7215.

    Analysis are provided by InstaForex

  10. #970
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    Elliott wave analysis of EUR/NZD for August 20, 2018

    Nothing happening here. The range-trading between 1.7220 and 1.7310 continues to dominate the picture. We continue to look for a break above resistance at 1.7310 and more importantly a break above resistance at 1.7355 that confirms red wave ii has completed and red wave iii has taken over for the next impulsive rally towards 1.7924 and 1.8369 as the next larger upside targets.

    R3: 1.7484
    R2: 1.7417
    R1: 1.7355
    Pivot: 1.7310
    S1: 1.7270
    S2: 1.7243
    S3: 1.7220

    Trading recommendation:
    We are long EUR from 1.7245 with our stop placed at 1.7215.

    Analysis are provided by InstaForex

  11. #971
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    Elliott wave analysis of EUR/NZD for August 22, 2018

    EUR/NZD once again failed to break above important short-term resistance at 1.7355 and instead turned around to make a small new low at 1.7211. This is a disappointment and keeps red wave ii alive, but it does not change our larger bullish count calling for more upside pressure above 1.7484 longer-term. To confirm that red wave ii has completed, we still need a break above resistance at 1.7355 and as long as this short-term important resistance remains able to cap the upside, red wave ii could dip closer to 1.7196, but the potential downside should be limited to here for a break above minor resistance at 1.7327 and more importantly a break above 1.7355 confirming red wave iii is developing for a rally above 1.7484.

    R3: 1.7355
    R2: 1.7327
    R1: 1.7275
    Pivot: 1.7255
    S1: 1.7221
    S2: 1.7196
    S3: 1.7162

    Trading recommendation:
    Ous stop was hit for a small loss of 20 pips. We will re-buy EUR at 1.7205 or upon a break above 1.7327 and place our stop at 1.7200.

    Analysis are provided by InstaForex

  12. #972
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    Elliott wave analysis of EUR/JPY for August 23, 2018

    EUR/JPY still has not broken important short-term resistance at 128.48, but then it has not started to move strongly lower as we normally should expect at the completion of an expanded flat.

    Therefore we are shifting our preferred count in favor of wave C and II having completed with the test of 124.86 and wave III now in its infancy. Under this count EUR/JPY should make a small downward correction towards 127.23 - 127.33 area in red wave iv and then move higher towards the 128.92 - 129.32 area in red wave v.

    This will complete black wave i/ and should set the stage for a corrective decline in wave ii/ towards the 125.76 - 126.44 area before the next impulsive rally higher. That said, the possibility of a final dip closer to 124.62 remains possible, but time is running out fast.

    R3: 128.92
    R2: 128.48
    R1: 128.24
    Pivot: 127.93
    S1: 127.72
    S2: 127.50
    S3: 127.33

    Trading recommendation:
    We are 50% long EUR from 126.26 with our stop placed at 126.84. We will take pro

    Analysis are provided by InstaForex

  13. #973
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    Elliott wave analysis of EUR/NZD for August 24, 2018

    EUR/NZD has finally broken above short-term important resistance at 1.7355. This former resistance should now act as support if a re-test is needed.

    The break above resistance at 1.7355 should have paved the way for a continuation higher towards 1.7484 on the way towards 1.7924 and 1.8369 as the next important upside targets. EUR/NZD is now in a position where it could start accelerate quiet powerfully higher, but we think a clear break above 1.7484 will be needed to see the expected upside acceleration.

    R3: 1.7668
    R2: 1.7578
    R1: 1.7484
    Pivot: 1.7366
    S1: 1.7355
    S2: 1.7325
    S3: 1.7281

    Trading recommendation:
    We bought EUR at 1.7330 and we have placed our stop at 1.7275.

    Analysis are provided by InstaForex

  14. #974
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    GBP/USD. Trading system "Regression channels". The growth of the pound sterling may be temporary

    4-hour timeframe

    Technical data:
    Higher channel of linear regression: direction - down.
    The lower channel of linear regression: direction - down.
    The moving average (20; flattened) is up.
    CCI: 159.4805

    Yesterday, the GBP/USD currency pair showed impressive growth, after Michel Barnier, the main negotiator for Brexit from the EU, announced the forthcoming special offer for London. But according to the European Union, he did not mentioned the proposal's essence and how it will be resolved all disagreements with Britain. However, the markets reacted with strong purchases of the British pound. We believe that this market reaction is short-term and impulsive. So far, even the essence of the proposal is unclear. It is likely that Theresa May will not agree with this proposal, but almost nobody doubts that the negotiations will drag on beyond October. Thus, the pound sterling will remain under market pressure, and even Trump's desire to weaken the dollar may not prevent further strengthening of the pound/dollar, while with other currencies paired with the dollar may decline. The data on personal income adjustments and expenditure of the population in the United States will be publish today. Possibly, this data can affect the traders' mood but the most important agenda for today is about global topics, so these reports are unlikely have a significant effect to the trading course. From a technical point of view, a correction is brewing, as there was a very strong growth yesterday, and the last bar is painted in blue today.

    Nearest support levels:
    S1 = 1.2939
    S2 = 1.2817
    S3 - 1.2695
    Nearest resistance levels:
    R1 = 1.3062
    R2 = 1.3184
    R3 = 1.3306

    Trading recommendations:
    The GBP/USD pair may start to adjust. Correction can be worked out (if a second blue bar is formed in a row), since the descending sentiment of the pair remains. The target for short positions is the moving average line in small lots.
    Buy-positions are recommended to resume in case of a reversal of the Heiken Ashi indicator above or overcoming the 1.3062 level. The next target for the bulls will be the Murray level of 1.3184.
    In addition to the technical picture, one should also take into account the fundamental data and the time of their release.
    Explanations for illustrations:
    The upper channel of linear regression is the blue lines of unidirectional motion.
    The junior channel is linear-violet lines of unidirectional motion.
    CCI - the blue line in the regression window of the indicator.
    Moving average (20; smoothed) - the blue line on the price chart.
    Murray Levels - multi-colored horizontal stripes.
    Heiken Ashi is an indicator that color bars in blue or purple.
    * The presented market analysis is informative and does not constitute a guide to the transaction.

    Analysis are provided by InstaForex

  15. #975
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    Elliott wave analysis of EUR/JPY for September 3, 2018

    EUR/JPY has declined nicely and is now hovering just below our 128.78 - 129.00 target zone. We are looking for a recovery towards 129.85 next and from there it will be decided, whether more corrective downside pressure is needed or not.

    In the short-term, a break above resistance at 129.14 will confirm the expected rally towards 129.85 and maybe even a continuation towards 130.87 and beyond.

    If support at 128.54 gives away first, then a minor dip to support at 128.30 should be expected before a recovery is seen, but the potential downside should be limited for now.

    R3: 129.85
    R2: 129.32
    R1: 129.14
    Pivot: 128.83
    S1: 128.54
    S2: 128.30
    S3: 127.94

    Trading recommendation:
    We took profit on our short position at 129.10 for a nice little profit of 58 pips and at the same time bought EUR. We have placed our stop at 128.10.

    Analysis are provided by InstaForex

  16. #976
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    Pound: we only dream of peace

    Political risks throw the British pound into the heat, then in the cold. The statement of the chief negotiator from the EU Michel Barnier that Brussels is ready to offer London an unprecedented deal, allowed quotes of the GBP/USD to soar above the psychologically important mark of 1.3. Alas, a few hours later Barnier declared a categorical disagreement with Theresa May's plan. At the same time, former Brexit Secretary David Davis said that he would vote against the Prime Minister's program, which involves significantly worse conditions than there were.

    Theresa May will have a daunting task - first to find a compromise within the country, and then to reach an agreement with the EU. The situation is aggravated by the Congress of the Conservative party in September. And if in June the prime minister managed to maintain her leadership, now she will have to undergo a new test. As a result of the aggravation of political risks, the volatility of the sterling may come out of the trading range and go up, which will negatively affect the positions of the bulls on the GBP/USD. Britain has the highest ratio of the negative current account to GDP in the G20 countries, its financing requires an inflow of investments, and it is difficult to lure non-residents to the local market in conditions of increased volatility of the pound.

    The dynamics of the volatility of the pound

    The pressure on sterling is exerted by disappointing macroeconomic statistics. The index of purchasing managers in the manufacturing sector in August was marked by the worst dynamics in the last two years. Export orders fell below the critical level of 50 for the first time since April 2016. As Bloomberg research shows, British companies preferred to save money instead of taking advantage of the devaluation and increase investment. Now, in the face of fears about the slowdown of the world economy, the decline in external demand creates serious problems for them.

    It should be recognized that the fall of the GBP/USD contributed to the gradual recovery of the US dollar. Difficulties in negotiations between the United States and Canada lead investors to the idea that the settlement of the dispute between Washington and Beijing may take even longer, and the truce between the US and the EU will end very soon. As a result, the risks of escalation of trade conflicts have increased, which provides support to the US dollar.

    News are provided by InstaForex

  17. #977
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    Gold wings have been clipped

    August turned out to be the fifth consecutive month of gold closing in the red zone. The precious metal lost more than 2% amid the acceleration of the US economy, increasing the chances of four acts of monetary tightening of the Federal Reserve in 2018 and tensions over trade wars. And only moderately - "dovish" rhetoric of Jerome Powell in Jackson hole allowed the "bulls" to lick some of its wounds and try to break above $1210 per ounce. Alas, the joy of buyers was short-lived. In early September, the dollar began to recover in the face of problems in the negotiations between the United States and Canada and Donald Trump's intentions to expand the size of import duties against China by $200 billion.

    The dynamics of gold

    According to Citigroup Global Markets, investors do not need the gold in a world where stocks and bond yields are rising. The precious metal does not bring dividends and interest as equity and debt securities, and its status as a safe-haven asset has been taken away by the US dollar. As a result, speculators are increasing net short positions on the precious metal for the fifth week in a row and brought them to record highs. The stocks of the largest specialized fund SPDR Gold Shares fell to its lowest levels since November. From the levels of April highs, the index has lost 14%.

    However, everything in this world is relative. Silver feels much worse than gold, the loss of which is about 16% since the beginning of the year. Due to the high proportion of industrial use in aggregate demand, this metal is more vulnerable to a slowdown in the global economy than the sector leader. As a result, their ratio has soared to the highest levels since the global financial crisis.

    Dynamics of the ratio of gold and silver

    Further dynamics of the XAU/USD will entirely depend on the US dollar, whose position looks strong. First, the Atlanta Federal Reserve predicts that US GDP in the third quarter will accelerate to 4.6%. Secondly, the futures market estimates the probability of four Federal funds rate increases in 2018 at 75%. A month ago, the figure was only slightly higher than 60%. Third, Trump is about to expand the size of import tariffs against China, which will increase the risks of a slowdown in the Chinese economy and put pressure on the markets of developing countries.

    Analysis are provided by InstaForex

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    EUR/JPY Testing Support, Prepare For A Bounce

    EUR/JPY is approaching its support at 127.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where the price is expected to bounce up to its resistance at 129.69 (61.8% Fibonacci retracement, horizontal swing high resistance).

    Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce is expected.

    EUR/JPY is testing its support where we expect to see a bounce.

    Buy above 127.94. Stop loss at 127.01. Take profit at 129.69.

    Analysis are provided by InstaForex

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    Elliott wave analysis of EUR/NZD for September 10, 2018

    We continue to look for more upside pressure towards the next sub-target at 1.7820. Longer term resistance at 1.7820 only should prove to be a temporary cap as more upside towards strong resistance at 1.8369 remains expected.

    Support is now seen at 1.7683 and again at 1.7638 only a break below the later, we confirm more sideways consolidation, and a dip to 1.7605 before the next strong push higher.

    R3: 1.7820
    R2: 1.7750
    R1: 1.7734
    Pivot: 1,7701
    S1: 1.7683
    S2: 1.7638
    S3: 1.7605

    Trading recommendation:
    We are long EUR from 1.7330 with our stop placed at 1.7565, Upon a break above 1.7734 we will move our stop higher to 1.7595.

    Analysis are provided by InstaForex

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    Elliott wave analysis of EUR/NZD for September 11, 2018

    EUR/NZD keeps making headway towards the sub-target at 1.7820. Ideally, this resistance will only make a temporary top for the next swing higher towards the more important resistance at 1.8369.

    Support is now seen at 1.7668 and if a break below here is seen, then a corrective decline closer to support at 1.7605 could be seen, but it should be short-lived as the steady uptrend continues higher towards 1.8369. R3: 1.8016

    R2: 1.7919
    R1: 1.7820
    Pivot: 1.7738
    S1: 1.7701
    S2: 1.7668
    S3: 1.7605

    Trading recommendation:
    We are long EUR from 1.7330 and we will move our stop higher to 1.7660.

    Analysis are provided by InstaForex

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