Instaforex Analysis

**InstaForex Gertrude** · 14-01-15, 08:47

Daily analysis of major pairs for January 14, 2015

EUR/USD: This currency trading instrument still has the potential to continue trading further down in the context of the existing bearish trend. When the support line at 1.1750 is breached to the downside, it would ensure more southerly trip towards another support line at 1.1700.

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**InstaForex Gertrude** · 20-01-15, 09:15

Daily analysis of USDX for January 20, 2015

The USDX is still following the bullish bias in the long term, because this instrument was forming a higher high pattern above the support level of 91.88 and during the last days, the bullish momentum has unleashed the buy orders at the USDX, giving it a good road to perform a consolidation above the resistance level of 93.02 in the near term. The MACD indicator is trying to enter the negative territory.

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**InstaForex Gertrude** · 21-01-15, 09:46

Daily analysis of major pairs for January 21, 2015[

EUR/USD: This is a weak market and the recent bullish attempt in it was being thwarted by bearish effort. The price is currently below the resistance line at 1.1550 and it may reach the support line at 1.1500.

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**InstaForex Gertrude** · 26-01-15, 09:16

Technical analysis of EUR/JPY for January 26, 2015

Technical outlook and chart setups: The EUR/JPY pair has dropped by 5 waves down from 149.80 to sub 131.00 levels, depicted with arrows here. It looks like the pair is preparing for a counter trend rally that could extend towards 142.30 levels. Immediate support is seen at sub 130.00 levels, while resistance is seen at 133.00 respectively. A break above 133.00 would confirm that the rally has resumed and it would be recommended to initiate long positions on dips there after. As discussed earlier, the bigger picture indicates that EUR/JPY might be heading into a deeper correction lower towards 115.00/116.00 levels. For now, a 3-wave counter trend rally seems more probable.

Trading recommendations: Could buy on dips after 133.00 breaks.

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**InstaForex Gertrude** · 27-01-15, 08:38

Daily analysis of major pairs for January 27, 2015

EUR/USD: After testing the support line at 1.1100, the EUR/USD pair bounced upwards by over 190 pips. The upward bounce pales into insignificance when compared to the overall bearish bias, which is now very strong. In other words, the current upward bounce is better seen as a clean opportunity to sell short as the price rallies in the context of a downtrend.

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**InstaForex Gertrude** · 28-01-15, 09:02

Daily analysis of GBP/USD for January 28, 2015

The GBP/USD pair had another bullish session during yesterday, as this pair is trading close to the resistance level of 1.5247. Remember that a breakout on that zone could activate buy orders on this pair to the nearest resistance level of 1.5491. Anyway, from a general view, the GBP/USD pair is still forming a bearish pattern and that bias is still valid.

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**InstaForex Gertrude** · 29-01-15, 08:50

Daily analysis of major pairs for January 29, 2015

EUR/USD: The situation on this pair is nearly similar to that of EUR/JPY. From the beginning of this week, the market moved upward by roughly 300 pips, reaching the resistance line at 1.1400. From that line, the market has begun another phase of bearish movement in conjunction with the overall bias which is bearish.

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**InstaForex Gertrude** · 30-01-15, 08:58

Technical analysis and trading recommendation on USD/JPY for January 30, 2015

The strong US dollar took the pair towards 20Dsma. The US unemployment claims plunged, which gave a strong support to the greenback. In the week ending January 24, the flash figure for seasonally adjusted initial claims was 265,000, a decrease of 43,000 from the previous week's revised level. This is the lowest level for initial claims since April 15, 2000. But the Pending home sales data was disappointing, it declined 3.7%. On the other hand, Japan's retail sales unexpectedly fell in December. Sales declined 0.3% percent from November for a third month in a row. Today, the focus has shifted to US preliminary GDP. The pair has been still consolidating in the same tight range between 118.85 and 117.10 as we discussed in our earlier reports. The prices are trading within a triangle on the h4 chart. In case if the prices managed to give an upside breakout, it can challenge towards 120.50. In yesterday's session the pair managed to close above 34hrsma levels. The prices are facing strong resistance at the 80.0 fib level on the h4-chart. For about 3 hours, the prices have been taking support from the previous swing high at 118.24. We recommend buying at the current price of 118.27 with the targets at 118.50, 118.65, and 118.80. On a positional basis, until the pair holds at 117.00 and trades above 118.85, it can give another stellar show towards 120.00+. In case if the pair breaks below 117.00, it can extend its fall to 115.00 and panic will spark below 115.00. The intraday support levels exists at 118.15 and 117.85. We recommend selling only below 117.85, until bulls have an upper hand.

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**InstaForex Gertrude** · 02-02-15, 09:08

Daily analysis of GBP/USD for February 02, 2015

The GBP/USD pair continues to get more bearish pressure every day. Currently, it's trying to perform a breakout at the support level of 1.5025. This zone has been tested several times, but the pair is still very bearish. However, this outlook could change in the near future, if the GBP/USD pair makes a breakout above the resistance level of 1.5247, where this pair could rise until the resistance level of 1.5491.

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**InstaForex Gertrude** · 03-02-15, 08:38

Daily analysis of GBP/USD for February 03, 2015

On the daily chart, we can see the domination of the bearish bias on the GBP/USD pair. The pressure remains, as the pair is trying to consolidate below the support level of 1.5025. That breakout could take place during this week, when GBP/USD price action shows us that a lower low pattern is fully finished. The MACD indicator remains in the positive territory.

During the last session, the GBP/USD pair made a breakout in the 1.5039 zone, where the pair could start to form a solid bearish pattern to continue looking for more lows in the short-term bias. Anyway, our targets on the downside remains placed at the support level of 1.4994 and 1.4957, and this could be possible because the 200 SMA is bearish.

Daily chart's resistance levels: 1.5247 / 1.5491

Dailychart's support levels: 1.5025 / 1.4853

H1 chart's resistance levels: 1.5039 / 1.5084

H1 chart's support levels: 1.4994 / 1.4957

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 1.4994, take profit is at 1.4957, and stop loss is at 1.532.

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**InstaForex Gertrude** · 04-02-15, 08:39

Technical analysis of Gold for February 04, 2015

Technical outlook and chart setups: Gold drops to test intermediary lows at $1,250.00 levels as seen here. The metal still remains in control of bulls till prices remain above $1,250.00. It is recommended to remain long and also look to add further positions at current levels. A bullish bounce is expected from current levels, which could push the yellow metal through fresh swing highs and subsequently towards $1,340.00. Please note that the yellow metal had bounced off the fibonacci 0.382 support at $1,250.00 levels earlier and the current drop is still considered as a test. Bulls are poised to rally.
Trading recommendations: Remain long, stop at $1,245.00, the target is $1,340.00.

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**InstaForex Gertrude** · 05-02-15, 08:37

Daily analysis of major pairs for February 5, 2015

EUR/USD: This pair tested the resistance line at 1.1500, broke through it and later failed to close above it. The dip that occurred as a result is serious enough to be a danger to the current bullish possibility. A movement below the support line at 1.1250 would mean the end of the bullish possibility and the reversal of the recent bearish trend.

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**InstaForex Gertrude** · 06-02-15, 08:39

#USDX Technical analysis for February 6, 2015

The Dollar index confirms the fact that the Dollar is currently weak and more weakness is around the corner. The Dollar index has managed to move lower after being rejected by the short-term resistance. The black line is the resistance trend line and price has gotten rejected every time. Price is below the Ichimoku cloud. Therefore, we should expect more downside pressures to arise and push the index lower for a bigger than normal correction.After a long time, the weekly chart is showing signs of reversal and some increased bearishness. The Dollar index has weekly support at 91.65 by the tenkan-sen (red) trend line. The longer-term trend remains bullish and a pullback towards 92-91.50 could be a great buying opportunity.

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**InstaForex Gertrude** · 11-02-15, 08:40

Daily analysis of GBP/USD for February 11, 2015

The corrective moves on the GBP/USD pair are still on the way, as the pair is trying to perform a bullish consolidation above the level of 1.5247. Now, we're watching a higher high pattern formation of the GBP/USD pair on the daily chart. We expect a rise until the resistance level of 1.5491, when the pair finishes developing that pattern. The range established between the levels of 1.5249 and 1.5210 continues to be respected by the GBP/USD pair on the H1 chart, because the pair found strong support in the zone of 1.5210. However, later the pair was rejected from the level of 1.5249. By the way, it seems that bulls could take the ride on the GBP/USD pair in an intraday outlook. The MACD indicator is still on the positive territory.

Daily chart's resistance levels: 1.5247 / 1.5491
Dailychart's support levels: 1.5025 / 1.4841
H1 chart's resistance levels: 1.5249 / 1.5302
H1 chart's support levels: 1.5210 / 1.5166

Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5249, take profit is at 1.5302, and stop loss is at 1.5196.

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**InstaForex Gertrude** · 12-02-15, 08:44

Technical analysis of Silver for February 12, 2015

Technical outlook and chart setups:
Silver has remained unchanged while Gold hit lows yesterday, as seen here. The metal is holding fibonacci 0.618 support level very well at $16.50. It is expected to resume rally any time now, towards $18.90 and $21.00 at the sessions to come. It is recommended to remain long for now and consider adding further positions at the current levels. Bulls are very much poised to extend rally through higher levels till $16.50 and $15.50 remains intact. Immediate support is seen at $16.50 levels (interim), followed by $16.20, $15.50 and lower while resistance is seen at $17.40/50 (interim), followed by $18.40.50, $18.90 and higher respectively.

Trading recommendations:
Remain long, stop at $16.00, the target is open.

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**InstaForex Gertrude** · 13-02-15, 08:45

Technical analysis of GBP/USD for February 13, 2015

Overview: According to the previous events, the price of GBP/USD called for a strong bullish market from the price of 1.5200 yesterday (February 12, 2015). Therefore, the market will continue to move between the levels of 1.5366 and 1.5405 today. So, it would be wise to excercise caution in this range around the level of 50% Fibonacci retracement because the ratio of 50% coincides with the price of 1.5368. So, the first step is to wait for a period of tight sideway range market before breakouts. Then, the possible scenario is that the market is going to start showing signs of the bullish market again. In other words, it will be a good sign to buy above the level of 1.5360 with a first target of 1.5433 which climbs towards the first resistance around the area of 1.5467 (61.8% of Fibonacci retracement levels on H4 chart). However, if the the pair cannot break this resistance, hence the market will indicate a bearish opportunity below 1.5470. Then, the level is going to act really as strong resistance. Accordingly, it will be a good idea to sell below 1.5470 with a first target of 1.5402 and it is going to call for a downtrend in order to continue the bearish market towards 1.5332 on February 13, 2015.

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**InstaForex Gertrude** · 17-02-15, 08:45

Daily analysis of GBP/USD for February 17, 2015

The Monday session was supposed to be a slow one for the GBP/USD pair, but in fact the bearish bias took the control again of this pair for a while. However, currently, our targets still remain on the upside at the resistance level of 1.5491. The current moves could deliver a bullish pattern on the daily chart. The MACD indicator is still on the positive territory.

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**InstaForex Gertrude** · 18-02-15, 08:50

Technical analysis of USD/JPY for February 18, 2015

In Asia, Japan will release the BOJ Press Conference and Monetary
Policy Statement. The US will also release some economic reports such
as Industrial Production m/m, Capacity Utilization Rate, Housing
Starts, Core PPI m/m, PPI m/m, and Building Permits. So, there is a
big probability the USD/JPY pair will move with low to medium
volatility during the day.

TODAY TECHNICAL LEVELS:
Resistance. 3: 119.90.
Resistance. 2: 119.67.
Resistance. 1: 119.44.
Support. 1: 119.15.
Support. 2: 118.92.
Support. 3: 118.68.

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**InstaForex Gertrude** · 20-02-15, 08:15

Technical analysis of NZD/USD for February 20, 2015

Overview: The NZD/USD pair will probably continue straight from the level of 0.7478 (at 61.8% of Fibonacci retracement levels on H1 chart). Besides, it should be noted that the double bottom will be formed at the same level of 0.7478. Therefore, the NZD/USD pair is showing signs of strenght following the break of the first resistance level of 0.7500. So it will be a good idea to buy above the level of 0.7470 or/and 0.7500 with the first target of 0.7548 and further towards the last peak point 0.7577 (it will act as a strong resistance, so that it is going to be a good place to take profit, it should be also noted that this level of taking profit will coincide with 100% of Fibonacci). However, in case reversal takes place and the NZD/USD pair breaks through the support level of 0.7478, the market will lead to further decline to 0.7443 and then 0.7414 in order to indicate for the bearish market on February 20, 2015.
Trading recommendations: According to previous events, the price will move between 0.7577 and 0.7415. Buy above 0.7480 with the first target of 0.7546, it might resume to 0.7570. Below the level of 0.7463 look for further downside with the 0.7443 and 0.7414 targets.

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**InstaForex Gertrude** · 23-02-15, 08:47

GBP/JPY Elliott wave count and Fibonacci levels for April 25, 2012

EUR/USD: This currency trading instrument moved largely sideways last week as bulls and bears struggled in vain for significant supremacy, being swayed by transitory buying and selling pressure. There is a support line at 1.1300 and a resistance line at 1.1450; and the price would break either to the downside or the upside. Nevertheless, a break above the resistance line at 1.1450 is more likely this week.

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