Instaforex Analysis

**InstaForex Gertrude** · 17-12-15, 08:44

Technical analysis of GBP/USD for December 17, 2015

Overview:
The resistance is seen at the level of 1.5034, and a double top is placed at 1.5062 in the H4 chart. Also, it should be noted that the daily pivot point had already placed at 1.5034 in the same time frame. Consequently, the descending movement will probably be lower than the level of 1.5034 with a targets at 1.4894 in order to try breaking a double bottom. If the pair is able to break the double bottom at 1.4894, it will continue moving towards the levels of 1.4854 (support 2). On the contrary, the support was already found at 1.4854. Furthermore, it should be noted that it will rather profitable to buy above this level to retest this level in the long period. Therefore, buy deals are recommended above the level of 1.4854 with targets at 1.4903 and 1.5033 to retest the support from below again.

General idea about the pivot point. Resistance 3 and support 3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well in the sideways markets as the prices are most likely to be located between resistance 1 and support 1. Within a strong trend, the price is expected to be lower than the pivot point line and continue moving. If the breaking news released may affect the market, the price is likely to go straight through resistance 1 or support 1 and even reach resistance 2 and resistance 3 or support 2 and support 3. If the trend breaks resistance or support, it is likely to result in a significant price movement.

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**InstaForex Gertrude** · 18-12-15, 07:24

Daily analysis of USDX for December 18, 2015

It seems that the index is trying to consolidate above the 200 SMA for a bullish ride in a short-term basis. However, because of this, the USDX could start to pullback towards the support level of 98.80, where a rebound can happen. It should be noted also that there is a higher high pattern formation ongoing in the H1 chart. The MACD indicator is entering at the negative territory.

H1 chart's resistance levels: 99.19 / 99.48
H1 chart's support levels: 98.80 / 98.14

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks the bullish resistance level at 99.19, take profit is at 99.48, and stop loss is at 98.86.

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**InstaForex Gertrude** · 22-12-15, 08:45

Daily analysis of GBP/USD for December 22, 2015

No major changes in GBP/USD in Monday's session and during the Christmas week. The support zone of 1.4852 is still a strong level where buyers remain active on a short-term basis. However, we can expect a rally towards the resistance level of 1.4962 as part of the corrective moves within the current intraday's trend. MACD indicator is on the negative territory.

H1 chart's resistance levels: 1.4918 / 1.4962
H1 chart's support levels: 1.4852 / 1.4802

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 1.4852, take profit is at 1.4802, and stop loss is at 1.4904.

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**InstaForex Gertrude** · 04-01-16, 09:22

Daily analysis of GBP/USD for January 04, 2016

According to the H1 chart, GBP/USD is doing a strong bearish consolidation below the 1.4802 level, after a sideways range move before the New Year's eve. Currently, we can expect a decline below the 1.4702 level, which would open the doors to test the 1.4608 level on a short-term basis. The 200 SMA in this time frame is still pointing to the downside. The MACD indicator is at the negative territory.

H1 chart's resistance levels: 1.4802 / 1.4918
H1 chart's support levels: 1.4702 / 1.4608

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 1.4702, take profit is at 1.4608, and stop loss is at 1.4793.

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**InstaForex Gertrude** · 06-01-16, 07:47

Daily analysis of USD/JPY for January 05, 2016

Overview
A strong break of the 129.66 support confirmed resumption of a whole decline from 141.04. Intraday bias remains on the downside for the moment. A break of lower channel support (now at 128.56) will indicate downside acceleration and target a test at the 126.09 key support level. On the upside, movements above 130.16 minor resistance will turn bias neutral and bring consolidations. But the near-term outlook will stay bearish as long as the 134.58 resistance holds. We expect more range trading between 126.09 and 149.76 in the medium term. Then it should be followed by an upside breakout at a later stage. Nonetheless, a break of 126.09 would extend the correction towards 61.8% retracement at 115.36.
Daily Pivots: (S1) 128.45; (P) 129.60; (R1) 130.54

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**InstaForex Gertrude** · 06-01-16, 09:01

Technical analysis of EUR/USD for January 06, 2016

When the European market opens, some economic news will be released such as PPI m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI.The US will release the economic data too such as the FOMC Meeting Minutes, Crude Oil Inventories, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Trade Balance, ADP Non-Farm Employment Change, so amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.0797.
Strong Resistance:1.0791.
Original Resistance: 1.0780.
Inner Sell Area: 1.0769.
Target Inner Area: 1.0744.
Inner Buy Area: 1.0719.
Original Support: 1.0708.
Strong Support: 1.0697.
Breakout SELL Level: 1.0691.

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**InstaForex Gertrude** · 08-01-16, 05:56

Daily analysis of EUR/JPY for January 07, 2016

Overview
The outlook for the EUR/JPY pair is unchanged for the moment. While further fall is expected, we stay cautious about the strong support from 126.09. A break of the 129.66 support turned into resistance will indicate short-term bottoming and turn bias back to the upside for the 134.58 resistance. However, a decisive break of 126.09 will extend the larger decline from 149.76. The strong rebound after failing to sustain below 38.2% retracement of 94.11 to 149.76 at 128.50 points to the development of a sideways pattern. We expect more range trading between 126.09 and 149.76 in the medium term. An upside breakout should follow it at a later stage. Nevertheless, a decisive break of 126.09 would extend the correction towards the 61.8% retracement at 115.36.

Daily Pivots: (S1) 127.09; (P) 127.63; (R1) 128.25

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**InstaForex Gertrude** · 09-01-16, 03:01

Technical analysis of NZD/USD for January 08, 2016

NZD/USD is expected to trade in a lower range as the key resistance is at 0.6665. The pair remains under pressure below its key resistance at 0.6665, and it seems likely to post a new decline to test its support at 0.6590, representing the previous swing low. A break below this threshold would trigger a new pullback to 0.6560. The relative strength index lacks upward momentum. To sum up, as long as 0.6665 holds on the upside, look for 0.6580 and 0.6560 in extension.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6590. A break of that target will move the pair further downwards to 0.6560. The pivot point stands at 0.6660. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.6710 and the second target at 0.6760.

Resistance levels: 0.6710, 0.6760, 0.6790
Support levels: 0.6580, 0.6560, 0.6525

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**InstaForex Gertrude** · 11-01-16, 08:34

Elliott wave analysis of EUR/NZD for January 11, 2016

Wave summary:
Our count continues to work perfectly and we have already seen resistance at 1.6748 tested, but not yet broken clearly. However, it should just be a matter of time before the break above the resistance at 1.6748 is seen for a continuation higher towards 1.7133 as the next major upside target.
In the short term, we will ideally see support at 1.6526 protect the downside for the next rally above 1.6748 for the rally towards 1.7133.
Trading recommendation: We are long EUR from 1.5810 and we will move our stop higher to 1.6235. If you are not long EUR yet, then buy near 1.6526 and use the same stop at 1.6235.

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**InstaForex Gertrude** · 12-01-16, 08:26

Technical analysis of EUR/USD for January 12, 2016

When the European market opens, no news will be released from the eurozone. However, the US will post some economic reports such as IBD/TIPP Economic Optimism, JOLTS Job Openings, and NFIB Small Business Index. So amid the reports, EUR/USD will move with low to medium volatility today.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0905.
Strong Resistance:1.0899.
Original Resistance: 1.0888.
Inner Sell Area: 1.0877.
Target Inner Area: 1.0852.
Inner Buy Area: 1.0827.
Original Support: 1.0816.
Strong Support: 1.0805.
Breakout SELL Level: 1.0799.

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**InstaForex Gertrude** · 13-01-16, 08:29

Technical analysis of EUR/USD for Januari 13, 2016

When the European market opens, some economic news will be released such as German 10-y Bond Auction, Industrial Production m/m, and French CPI m/m. The US will release a series of economic data too such as Federal Budget Balance, Beige Book, 10-y Bond Auction, and Crude Oil Inventories. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0889.
Strong Resistance:1.0883.
Original Resistance: 1.0872.
Inner Sell Area: 1.0861.
Target Inner Area: 1.0836.
Inner Buy Area: 1.0811.
Original Support: 1.0800.
Strong Support: 1.0789.
Breakout SELL Level: 1.0783.

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**InstaForex Gertrude** · 14-01-16, 07:32

Daily analysis of GBP/USD for January 14, 2016

On H1 chart, GBP/USD is still doing a rebound above the support level of 1.4373, and we're watching very strong resistance around the 1.4464, where it has already formed some fractals that strengthen the bearish bias in a short and mid term basis. 200 SMA is still pointing to the downside and MACD indicator is entering negative territory, so we can expect a decline towards the 1.4309 level.

H1 chart's resistance levels: 1.4464 / 1.4555
H1 chart's support levels: 1.4373 / 1.4309

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 1.4373, take profit is at 1.4309, and stop loss is at 1.4437.

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**InstaForex Gertrude** · 16-01-16, 02:41

Technical analysis of GBP/JPY for January 15, 2016

GBP/JPY is expected to trade in a lower range as the key resistance is at 169.85. The pair is reversing down and stays below its key resistance at 169.85. Meanwhile, the relative strength index lacks upward momentum. The first target to the downside is set at the horizontal support and overlap at 167. A break below this level would open the way to further weakness towards 166.50.

Trading Recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 167. A break of that target will move the pair further downwards to 166.50. The pivot point stands at 169.85. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 170.60 and the second target at 171.35.

Resistance levels: 170.60, 171.35, 172
Support levels: 167, 166.50, 165.75

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**InstaForex Gertrude** · 18-01-16, 08:06

Daily analysis of GBP/USD for January 18, 2016

On the H1 chart, GBP/USD is still working so well in our bearish outlook presented several articles ago, as the pair is trying to extend its decline towards the support zone of 1.4198. A breakout below there will expose the pair to test the level of 1.4080. The current structure is calling for more declines, but the MACD indicator starts to show oversold conditions.

H1 chart's resistance levels: 1.4309 / 1.4373
H1 chart's support levels: 1.4198 / 1.4080

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 seen at 1.4198, take profit is at 1.4080, and stop loss is at 1.4309.

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**InstaForex Gertrude** · 19-01-16, 07:40

Daily analysis of USDX for January 19, 2016

The H1 chart shows that USDX is consolidating above the 200 SMA and the bullish outlook remains unchanged, as the index is trying to break the resistance level at 99.22. It would also break the range where the US dollar has been trapped for several sessions in this month. The MACD indicator is entering negative territory, so be cautious when trading in the long-side below the 99.22 level.

H1 chart's resistance levels: 99.22 / 99.49
H1 chart's support levels: 98.79 / 98.39

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 99.22, take profit is at 99.49, and stop loss is at 98.94.

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**InstaForex Gertrude** · 20-01-16, 07:48

Daily analysis of USDX for January 20, 2016

The USDX is still trading above the 200 SMA on the H1 chart, but the resistance level of 99.22 is rejecting the current price action. Also, we should note that moving average is offering dynamic support at the current stage. However, a breakout above the level of 99.22 will open the doors to test the level of 99.49. The MACD indicator is entering the neutral territory.

H1 chart's resistance levels: 99.22 / 99.49
H1 chart's support levels: 98.79 / 98.39

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 99.22, take profit is at 99.49, and stop loss is at 98.94.

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**InstaForex Gertrude** · 21-01-16, 08:13

Daily analysis of USDX for January 21, 2016

At the H1 chart, the Index is doing a rebound above the 200 SMA and now we can expect a re-test of the resistance level around the 99.22 level. However, we're still seeing a sideways consolidation in progress above that moving average and we shouldn't discard a possible deep pullback towards the 98.39 level.

H1 chart's resistance levels: 99.22 / 99.49
H1 chart's support levels: 98.79 / 98.39

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 99.22, take profit is at 99.49, and stop loss is at 98.94.

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**InstaForex Gertrude** · 22-01-16, 07:59

Daily analysis of USDX for January 22, 2016

The USDX had a very volatile session on Thursday, as the index did a strong pullback after a bullish momentum gained above the 200 SMA on the H1 chart. However, the moving average is still acting as dynamic support and a push higher could move the index to the level of 100.00 in order to test it in a mid-term term. The MACD indicator is in the negative territory.

H1 chart's resistance levels: 99.22 / 99.49
H1 chart's support levels: 98.79 / 98.39

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 99.22, take profit is at 99.49, and stop loss is at 98.94.

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**InstaForex Gertrude** · 23-01-16, 03:19

Technical analysis of USD/CHF for January 22, 2016

The USD/CHF pair is likely to advance further. The intraday technical picture of USD/CHF is positive now after yesterday's strong rebound. A support base around 1.0065 has been formed, which suggests stabilization. Besides, a bullish cross has been identified between the 20-period and 50-period moving averages. The relative strength index is also bullish, displaying upward momentum. Therefore, as long as 1.0065 holds on the downside, further advance is expected to 1.0175 (Jan. 19 top) and 1.0214 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. As long as the price holds above its pivot point, long positions are recommended with the first target at 1.0175 and the second target at 1.0215. In the alternative scenario, short positions are recommended with the first target at 1.0030 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 0.9990. The pivot point is at 1.0065.

Resistance levels: 1.0175, 1.0215,1.0245
Support levels: 1.0030, 0.9990, 0.9955

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**InstaForex Gertrude** · 26-01-16, 07:18

Daily analysis of USDX for January 26, 2016

USDX has found resistance at the 99.49 level and now we can see a decline towards the support level of 99.22 where the nearest moving average (200) is located . It seems the bullish bias will remain alive, as the index is still trading above that price zone. Besides, there are no significant bearish patterns formations on the road.

H1 chart's resistance levels: 99.49 / 99.69
H1 chart's support levels: 99.22 / 98.97

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD index breaks a bullish candlestick; the resistance level is at 99.49, take profit is at 99.69, and stop loss is at 99.28.

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