Instaforex Analysis

**InstaForex Gertrude** · 05-11-13, 09:05

EUR/USD intraday technical levels for November 5, 2013

Yesterday, after the release of the Italian Manufacturing PMI below the market expectations, the EUR/USD got under pressure to go down. For today, we wait for the US ISM Manufacturing release. All the market participants are now waiting for next Friday to see the US Non Farm Payrolls and the US Unemployment Rate data.

TODAY's TECHNICAL LEVELS:
Breakout BUY level: 1.3586.
Strong Resistance:1.3578.
Original Resistance: 1.3565.
Inner Sell Area: 1.3552.
Target Inner Area: 1.3520.
Inner Buy Area: 1.3488.
Original Support: 1.3475.
Strong Support: 1.3462
Breakout SELL level: 1.3454.

DESCRIPTION:
Today EUR/USD has support and resistance at 1.3475 and 1.3565. The rate is accompanied by strong support at 1.3462 and by 1.3578 as strong resistance. If EUR/USD breaks out and closes below 1.3454 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3586 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3488 and at 1.3552, a SELL position. In this case both targets should be located at the level of 1.3520.

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**InstaForex Gertrude** · 06-11-13, 09:16

EURJPY testing the support line now. 131.00 is critical for bulls

Technical outlook and chart setups:
The currency pair is found to be testing the immediate trend line support for now. It is still recommended to hold long positions initiated earlier and also plan to buy more. Immediate support is at 131.00, followed by 130.00/128.00 and 125.00; while resistance remains fixed at the 135.00 levels respectively. The bullish trend shall prevail till the time prices remain above the 131.00 levels. On the other hand, if the support line breaks and prices test the 131.00 levels in near future, subsequent rallies must be sold as a change in the trade strategy.

Trading recommendations:
Hold long positions, stop is at 131.00.

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**InstaForex Gertrude** · 07-11-13, 10:23

USD/JPY intraday technical levels for November 7, 2013

Today Leading Indicators in Japan will be released and tonight when the US Market opens there will be issues some important news, US Advance GDP q/q. This economic indicator will be a clue for tomorrow US - Non Farm Payrolls economic data release.
TODAY's TECHNICAL LEVELS:
Resistance 3: 99.09.
Resistance 2: 98.85.
Resistance 1: 98.70.
Support 1: 98.47.
Support 2: 98.27.
Support 3: 98.08.

DESCRIPTION:
Please pay attention to the levels of support 3 (98.08) and resistance 3 (99.09). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 08-11-13, 08:40

GBP/JPY technical levels and trading recommendations for November 08, 2013

Overview
As it was expected yesterday, the price closed 4H below the support area of 159.00-159.50 and gave a new opportunity for more bearish signals today. As shown, the price has already broken 158.15 and now is testing the support level of 157.60. Closing below this level again may give us more sell signals till the price tests the support level of 157.00. So we can consider our first target a few pips above this support level then 157.00 as the second level. But we should wait for breaking 157.60 and closing 4H below before making a decision. But the price's closing above the support level of 157.60 cancels the bearish scenario.

Resistance and support levels: R3 (159.50), R2 (159.00), R1 (158.15), S1 (157.60), S2 (157.00), S3 (156.60).

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**InstaForex Gertrude** · 11-11-13, 10:39

Silver bounces right at 0.618 Fibonacci retracement.

Technical outlook and chart setups:
The metal fell down to expected levels at 21.00, before bouncing off sharply. It is very much recommended to hold long positions taken now and earlier. The minimum upside extensions are pointing towards 24.75 levels from here on. Intermediary support levels are 20.50, followed by 19.00 and sub 18.00 levels; while resistance is spread through 23.30/40 levels, followed by 24.50 and higher up. The structure is unfolding well, as an inverted head and shoulder reversal; with right shoulder being carved out at sub 21.00 levels.

Trading recommendations:
Remain long, stop at 20.50, target is at open.

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**InstaForex Gertrude** · 12-11-13, 10:17

USD/JPY intraday technical levels for November 12, 2013

Today data on Tertiary Industry Activity m/m, 30-y Bond Auction, Consumer Confidence, Prelim Machine Tool Orders y/y, etc. will be released in Japan, but when the US market opens there will not be released news from the US. So for today we predict the price action from USD/JPY will move in a moderate volatility.

TODAY's TECHNICAL LEVELS:
Resistance 3: 100.03.
Resistance 2: 99.83.
Resistance 1: 99.64.
Support 1: 99.40.
Support 2: 99.21.
Support 3: 99.01.

DESCRIPTION:
Please pay attention to the levels of support 3 (99.01) and resistance 3 (100.03). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 14-11-13, 11:21

Silver technical levels and trading recommendations for November 14, 2013

Overview
As shown in the today's H4 chart, the metal failed to break the Support area which consists of the Support level of 20.50 and the downward trend line. It is still trading above this Support area. Currently, it is bouncing from the Support level and starting the bullish move. So we still suggest waiting for closing above the Resistance level 21.00 in case of bouncing from the Support level of 20.50 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 21.50. Then after breaking this Resistance level, silver would open the way towards the Resistance level of 22.00, which means more bullish signals, but as long as the metal trades below the Resistance level of 21.00, this cancels the bullish scenario.

Resistance and support levels:
R3 (22.00), R2 (21.50), R1 (21.00), S1 (20.50), S2 (20.00), S3 (19.60).

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**InstaForex Gertrude** · 15-11-13, 10:53

USD/JPY intraday technical levels for November 15, 2013

In Japan today there is no significant news to be released, but in the US market there will be released some news such as the US Empire State Manufacturing Index; Import Prices m/m; Capacity Utilization Rate; Industrial Production m/m; and Wholesale Inventories m/m; and all this news from the US has a moderate impact, so there is nothing to worry about.

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 100.75.
Resistance. 2 : 100.55.
Resistance. 1 : 100.36.
Support. 1 : 100.11.
Support. 2 : 99.92.
Support. 3 : 99.72.

DESCRIPTION:
Please, pay attention to the levels of support 3 (99.72) and resistance 3 (100.75). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 18-11-13, 10:08

GBP/JPY technical levels and trading recommendations for November 18, 2013

Overview
Today's H4 chart shows that the pair opened this week above the Resistance level of 161.40 as shown. Currently, it is trading above it to continue its bullish trend. Given that the pair continues its bullish movement and closes 4H above the Resistance level after the closing of the current H4 candle, it would be another opportunity for more bullish signals with first target few pips below the Resistance level of 162.00, then we should wait for breaking above this Resistance level to get more bullish signals towards the Resistance level of 152.30 as the second target. But as long as the price is trading below the Resistance level of 161.40 and cannot break it through, this cancels the bullish scenario.

Resistance and Support levels:
R3 (162.30), R2 (162.00), R1 (161.40), S1 (160.60), S2 (160.00), S3 (159.50).

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**InstaForex Gertrude** · 19-11-13, 09:16

EUR/USD weekly technical levels for November 18-22, 2013

Intraday trading recommendations:
EUR/USD: According to the previous events, the price has still been trapped between 1.3540 and 1.3460. The level of 1.3550 will indicate strong resistance; moreover, the price will form a double top at this level. Therefore, it will be wise to sell at 1.3450 with the first target at 1.3425, then it will continue towards 1.3392 in order to test the weekly suppor 1. And stop loss should be placed above 1.3575.

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**InstaForex Gertrude** · 20-11-13, 09:56

USD/JPY intraday technical levels for November 20, 2013

Today some medium impact data such as Trade Balance, All Industries Activity m/m will be released; and during the US market session, some important news such as Core CPI m/m, Core Retail Sales m/m, Retail Sales m/m, and Existing Home Sales are going to be announced. Also some medium impact data like US Business Inventories m/m and Crude Oil Inventories will be released, so tas a result, the price of this currency pair will move with moderate to high volatility during the US session.

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 100.52.
Resistance. 2 : 100.32.
Resistance. 1 : 100.13.
Support. 1 : 99.89.
Support. 2 : 99.69.
Support. 3 : 99.49.

DESCRIPTION:
Please, pay attention to the levels of support 3 (99.49) and resistance 3 (100.52). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 21-11-13, 09:10

USD/JPY intraday technical levels for November 21, 2013

In the early morning after the Asian market start, there will be a release of some news from Japan like Monetary Policy Statement; BOJ Press Conference; and during the US market session, there will be a release of some important news such as the US - PPI m/m; US - Unemployment Claims; and some not very important news such as the US - Flash Manufacturing PMI; and the US Natural Gas Storage US - Flash Manufacturing PMI; and the US - Philly Fed Manufacturing Index . We predict the price action of this pair will be under moderate volatility within the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3 : 100.89.

Resistance. 2 : 100.69.

Resistance. 1 : 100.36.

Support. 1 : 100.25.

Support. 2 : 100.05.

Support. 3 : 99.85.

DESCRIPTION: Please, pay attention to the levels of support 3 (99.85) and resistance 3 (100.89). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 22-11-13, 09:04

USD/JPY intraday technical levels for November 22, 2013

Today we predict the USD/JPY price movement will be with slow to moderate volatility, because during the Asian session Japan will release the BOJ Monthly Report. During the US trading sesssion, no important and significant news is due to be released, only FOMC Member George Speech and the US - JOLTS Job Openings.

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 100.73.
Resistance. 2 : 100.53.
Resistance. 1 : 100.33.
Support. 1 : 100.09.
Support. 2 : 100.89.
Support. 3 : 100.69.

DESCRIPTION:
Please, pay attention to the levels of support 3 (100.69) and resistance 3 (100.73). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 25-11-13, 09:26

Elliott wave analysis of EUR/JPY for November 25, 2013

Today's Support and Resistance levels:
R3: 138.76
R2: 138.30
R1: 138.01
Current Spot: 137.76
S1: 137.33
S2: 137.02
S3: 136.60

Technical summary:
We should be in the very last part of the ending diagonal. The maximum for this final wave v will be in the 138.21-138.31 range depending on where the high of wave iii is placed. If we does see a break above 138.31, then the ending diagonal can not be the correct count as wave iii can never be the shortest wave and that would be the case here, if we does break above 138.31. However, for now we maintain the view that an ending diagonal is developing and should be close to its maximum. To confirm that wave v is in place, we need a break below 137.02 and more importantly a break below 136.02, which will confirm that wave v is in place for a decline towards at least 124.96.

Trading recommendation:
If you are long in EUR, lift your stop to 137.02. Take profit on any long position and sell EUR at 138.20 with a close stop at 138.35.

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**InstaForex Gertrude** · 26-11-13, 09:41

USD/JPY intraday technical levels for November 26, 2013

Today during the Asian session there will be news like CSPI y/y and the Monetary Policy Meeting Minutes released. And in the US trading session there will be some important news like the US Building Permits and US CB Consumer Confidence released, so there is a possibilities the price action of the USD/JPY will get their volatility in a moderate way at the US market session.

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 101.99.
Resistance. 2 : 101.79.
Resistance. 1 : 101.59.
Support. 1 : 101.35.
Support. 2 : 101.15.
Support. 3 : 100.95.

DESCRIPTION:
Please, pay attention to the levels of support 3 (100.95) and resistance 3 (101.99). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 27-11-13, 09:33

USD/CHF technical analysis for November 27, 2013

Overview:
It should be noted that the price of the USD/CHF pair has still been trapped between 0.9030 and 0.9085. The price has been set below strong resistance at the levels of 0.9195 (0.9230: 50% of Fibonacci retracement levels in H4 chart). Additionally, it is worth noting that these levels coincide between 61.8% and 78.6% of Fibonacci retracement levels in H4 chart; thereupon, the pair has already formed strong resistance at this level of 0.9200, and it is now approaching it in order to test it. Therefore, the possibility that the Swissy will have a downside momentum is rather convincing and the structure of the fall does not look corrective. In order to indicate a bearish opportunity below 0.9200, in consequence it will be a good sign to sell below 0.9195 with the first target of 0.9083. It is equally important that it will call for downtrend in order to continue bearish trend towards 0.9025.
On the other hand, it is also worthy of note that the price at 0.9020 - 0.9027 will possibly form a strong support (38.2% of Fibonacci retracement levels in H4 chart). Accordingly, saturation around 1.9020 to rebound the pair is likely to occur. Furthermore, it is possible that the market is going to start showing the signs of the bullish market. Hence, it will be a good sign to buy above 0.9020 with the first target of 0.9080 and continue towards 0.9173.

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**InstaForex Gertrude** · 28-11-13, 08:42

USD/JPY Intraday Technical Levels for November 28, 2013

We predict today the USD/JPY will move from slow to moderate because a few news will be released, during the Asian sesion there is only one news release from Japan: Retail Sales y/y, and the US market is closed for the Thanksgiving holiday.

TODAY's TECHNICAL LEVEL:
Resistance. 3 : 102.58.
Resistance. 2 : 102.38.
Resistance. 1 : 102.18.
Support. 1 : 101.93.
Support. 2 : 101.73.
Support. 3 : 101.53.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.53) and resistance 3 (102.58). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it is a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 29-11-13, 09:17

USD/JPY Intraday Technical Levels for November 29, 2013

The USD/JPY seems to move in slow to moderate volatility during the Asian session but will move in a slow condition in the US market as long as there is no intervention from the "big player" during the quite US market session because many of the market participant from the US and Canada take their long holiday weekend because of the Thanksgiving Day's celebration. At the Asian market session from Japan will release some news like Manufacturing PMI, Household Spending y/y, Tokyo Core CPI y/y, National Core CPI y/y, Unemployment Rate, Prelim Industrial Production m/m, and Housing Starts y/y.

TODAY's TECHNICAL LEVEL :
Resistance. 3 : 103.05.
Resistance. 2 : 102.85.
Resistance. 1 : 102.65.
Support. 1 : 102.40.
Support. 2 : 102.20.
Support. 3 : 102.00.

DESCRIPTION :
Please, pay attention to the levels of support 3 (102.00) and resistance 3 (103.05). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 02-12-13, 09:17

USD/JPY Intraday Technical Levels for December 02, 2013

From the Asian session today, there is only one data release: Capital Spending q/y, and BOJ Gov Kuroda Speaks and for the US market session open there will be a several data released: US Fed Chairman Bernanke Speaks, Final Manufacturing PMI, Construction Spending m/m, ISM Manufacturing PMI. There is probability the USD/JPY will move in a slow volatility but in a moderate way during the US market session.

TODAY's TECHNICAL LEVEL:
Resistance. 3 : 102.85.
Resistance. 2 : 102.65.
Resistance. 1 : 102.45.
Support. 1 : 102.20.
Support. 2 : 102.00.
Support. 3 : 101.80.

DESCRIPTION :
Please, pay attention to the levels of support 3 (101.80) and resistance 3 (102.85). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 06-12-13, 09:46

GBP/CHF breaks trendline support. Book profits and sell rallies again around 1.4775/1.48

Technical outlook and chart setups:
The same 4H chart view has been presented here for continuation in setups. As discussed yesterday and expected, the pair has broken the trend line support and prices around 1.4640/30 levels. It is recommended to book profits on short positions taken earlier and prepare to sell rallies again. Immediate support from here is 1.4550, followed by 1.4500 and 1.44; while resistance is between 1.4775/1.4800 ( this region is also the back side of the support line which is now resistance and the 0.618 fibonacci resistance), followed by 1.4875 and 1.4920 respectively. Looking to sell rallies again at the confluence of trendline, fibonacci and trade signal appearance.

Trading recommendations:
Book profits on short positions taken earlier, sell again on rallies.

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