Instaforex Analysis

**InstaForex Gertrude** · 03-11-14, 08:57

Technical analysis of Gold for November 03, 2014

Technical outlook and chart setups:
Gold dropped to $1,160.00 levels taking out long positions yet again. A weekly chat view has been presented here for a larger trend view. A support trend line connecting the 2004/05 and 2008/09 lows is passing through the $1,150.00/$1,160.00 levels. The fibonacci 0.618 support of the rally between $680.00 and $1,900.00 is also passing through the $1,154.00 levels as depicted here. Furthermore, a past resistance turned support is also converging at the same levels. With all the above views, probabilities are high that the metal should bottom out between $1,150.00 and $1,160.00 levels. A bullish reversal signal should be watched for on the daily chart before confirming the same.

Trading recommendations:
Remain flat for now. Signal confirmation is required between $1,150.00 and $1,160.00 levels.

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**InstaForex Gertrude** · 04-11-14, 09:06

Technical analysis of USD/JPY for November 04, 2014

In Asia, Japan will release the Final Manufacturing PMI and the US will release some economic data such as Trade Balance, Factory Orders m/m, IBD/TIPP Economic Optimism, Congressional Elections. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:
Resistance. 3: 114.24.
Resistance. 2: 114.02.
Resistance. 1: 113.79.
Support. 1: 113.52.
Support. 2: 113.30.
Support. 3: 113.07.

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**InstaForex Gertrude** · 05-11-14, 08:45

Technical analysis of EUR/JPY for November 05, 2014

This week's major event is the Thursday ECB press conference. This time we are not expecting further easing in the EU. In this case the euro will recover against USD and JPY. Today traders eye the BOJ monetary policy meeting minutes. The EUR/JPY cross has been trading on a highly bullish note for 4 weeks. The cross has parallel resistance between 143.44 and 143.78. In the weekly and monthly charts the cross gave an upside breakout. We can expect strong momentum only above 143.78 levels. As of now, today the cross made a high at 142.79 levels. After a huge spike, the prices are corrected well and again are moving higher. We expect the prices to move towards 143.40 and 143.50 levels. We recommend fresh intraday buying only above 142.79 levels. The intraday support exists at 142.20, below this, 141.70 levels. We recommend safe selling below 141.70 for targets at 139.75 levels. Risky traders can sell below 141.90 levels.

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**InstaForex Gertrude** · 06-11-14, 08:44

Technical analysis of GBP/CHF for November 06, 2014
Technical outlook and chart setups:
The GBP/CHF had pulled back from 1.5450 levels earlier, which is also marked by fibonacci 0.786 resistance as seen here. The pair is now expected to continue drifting lower till prices remain below 1.5450 levels. Resistance is seen at 1.5475, followed by 1.5550/5, while support is seen at 1.5200, followed by 1.5125, 1.4975 and lower respectively. It is recommended to remain short for now, risk remains above 1.5550. Bears are expected to remain in control for now, till prices remain below 1.5450 levels. On the flip side, a push above 1.5450/75 levels would delay matters further.
Trading recommendations:
Remain short, set stop above 1.5550, target is open.
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**InstaForex Gertrude** · 07-11-14, 08:27

Daily analysis of major pairs for November 7, 2014

EUR/USD: The EUR/USD has been able to reach our weekly target at 1.2450. The price has even gone far below that level, owing to the continuous stamina in the USD. The price now targets the support line at 1.2350, which might be breached today or early next week.

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**InstaForex Gertrude** · 10-11-14, 08:57

Daily analysis of USDX for November 10, 2014

The USDX has made an interesting pullback at the level of 87.95 on the daily chart. Because of this bearish pattern, the USDX could make a breakout at the support level of 87.35 and fall to the level of 86.20. However, we must be cautious in the medium term with the USDX, because this instrument could rise to the resistance level of 88.63. Dailychart's resistance levels: 88.63 / 90.40
Dailychart's support levels: 87.35 / 86.20

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**InstaForex Gertrude** · 11-11-14, 08:36

Technical analysis of EUR/JPY for November 11, 2014

Technical outlook and chart setups:
The EUR/JPY pair seems to be retracing its fall from 144.21 to sub 142.00 levels for now. The resistance (fibonacci 0.618), is around 143.40 levels and it is expected to reverse lower from there on. Resistance is at 144.21(interim), followed by 145.50, while support is seen at 140.30, followed by 139.20/30 and lower respectively. A 3 wave correction can be expected, till prices remain below 144.21 levels here. Bears are expected to resume its 3rd leg lower from around current price action (143.40). It is recommended to remain short, risk remains at 144.50 levels. Downside extensions are pointing towards at least 140.00/139.00 levels.

Trading recommendations:
Remain short, stop at 144.55, target is open.

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**InstaForex Gertrude** · 12-11-14, 08:26

Daily analysis of GBP/USD for November 12, 2014

At the H4 chart, the GBP/USD pair made a bullish consolidation above the support level of 1.5874. The next goal on the bullish road would be the resistance level of 1.5951. We must highlight the fact that this pair has been following the bearish bias for several weeks. So, it's normal to see these corrective movements. The MACD indicator remains in the positive territory.
H4chart's resistance levels: 1.5951 / 1.6004
H4chart's support levels: 1.5874 / 1.5811

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**InstaForex Gertrude** · 13-11-14, 08:44

Daily analysis of major pairs for November 13, 2014

EUR/USD: Unlike the Cable, the EUR/USD pair has not traded downwards significantly, though the overall bias has been bearish. As long as the price is below the support line at 1.2500, it would be assumed that the bearish outlook is intact. It is now either the price breaks the support line at 1.2400 or breaks the resistance line at 1.2500 to the upside.

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**InstaForex Gertrude** · 14-11-14, 08:37

Technical analysis of Silver for November 14, 2014
Technical outlook and chart setups:
Silver has dropped towards $25.30 levels for now. Please note that the current levels is the fibonacci 0.618 support of the rally from $15.00 to $15.80 levels last week. A bullish reversal here would warrant a bullish setup against $15.00. It is recommended to remain long for now, and also look to add positions on a bullish bounce at these levels, risk remains just below $15.00. Interim support is seen at $15.00, followed by $4.60 while resistance is seen at $16.20, followed by $17.50, $17.80/18.00 and higher respectively. Bills to regain control till prices stay above the $15.00 mark.
Trading recommendations:
Remain long, stop at $14.75, target is open.

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**InstaForex Gertrude** · 17-11-14, 08:37

Technical analysis of Gold for November 17, 2014

Technical outlook and chart setups:
Gold has rallied to $1,195.00 levels in last 2 trading sessions. The metal could still have room left on the higher side. $1,207.00 looks like the next potential immediate target. It is recommended to hold long positions and move risk to $1,145.00. As seen here, the $1,207.00 is a potential resistance and also fibonacci convergence level. A bearish reaction there should be watched for a potential down trend resumption. Immediate support is at $1,145.00, followed by $1,130.00 while resistance is seen at $1,207.00, followed by $1,230.00/35.00, $1,250.00/55.00 and higher respectively.

Trading recommendations:
Remain long, stop at $1,145.00, target is $1,207.00.

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**InstaForex Gertrude** · 18-11-14, 08:37

Daily analysis of GBP/USD for November 18, 2014

The GBP/USD pair continues to find support on the bearish trend line at the level of 1.5635, which is prompting the pair to strengthen the current bearish trend on H4 chart. However, the GBP/USD pair could form a double bottom pattern to rise again to the resistance level of 1.5698. The aforesaid movement may be a corrective move in favor of the bearish trend and the following objective remains at the support level of 1.5512. The MACD indicator remains in the positive territory.
H4chart's resistance levels: 1.5698 / 1.5811
H4chart's support levels: 1.5600 / 1.5512

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**InstaForex Gertrude** · 19-11-14, 08:47

Daily analysis of major pairs for November 19, 2014

EUR/USD:
This market also shows protracted efforts by bulls to push the price upwards, as bearish pulls are being rejected. A movement above the resistance line at 1.2600 would mean the end of the bearish bias, leading to a Bullish Confirmation Pattern in the market.

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**InstaForex Gertrude** · 20-11-14, 08:41

Daily analysis of major pairs for November 20, 2014

EUR/USD: There is now a Bullish Confirmation Pattern in the chart, which would become stronger as the price manages to cross the resistance line at 1.2600 to the upside, closing above it. Moreover, many strong economic figures are expected today and they will have a serious impact on the markets.

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**InstaForex Gertrude** · 21-11-14, 08:25

Daily analysis of USDX for November 21, 2014

At the H4 chart, the USDX has still been following the bullish trend line at the support level of 87.35. However, the USDX has formed several fractals at the resistance level of 87.93, so this instrument has lost bullish force in the medium term and eventually the USDX could fall to the level of 86.75 next week.
H4chart's resistance levels: 87.93 / 88.19
H4chart's support levels: 87.35 / 87.00

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**InstaForex Gertrude** · 24-11-14, 09:49

Daily analysis of USDX for November 24, 2014
In the daily chart, the USDX had a bullish momentum at the support level of 87.35, because this instrument continues forming a pattern for a bullish breakout at the resistance level of 88.63. If successful, it's expected to rise to the level of 90.40. However, caution is advised with sell orders in the long term, because the USDX intends to continue strengthening the bullish trend.
Dailychart's resistance levels: 88.63 / 90.40
Dailychart's support levels: 87.35 / 86.20

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**InstaForex Gertrude** · 25-11-14, 08:53

Daily analysis of major pairs for November 25, 2014

EUR/USD: After testing the support line at 1.2400, this market trended upwards. There is still a Bearish Confirmation Pattern in the market, which can only be rendered invalid when the price goes above the resistance line at 1.2600. Otherwise, the price may go further downwards from here.

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**InstaForex Gertrude** · 26-11-14, 09:01

Daily analysis of major pairs for November 26, 2014

EUR/USD: This currency trading instrument is making some commendable effort to go bullish, though some odds are still against it. An upward movement of over 110 so far this week is formidable enough, and when price goes above the resistance line at 1.2600, then things would have gone bullish. However, this goal is not currently easy to achieve.

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**InstaForex Gertrude** · 27-11-14, 08:23

Daily analysis of GBP/USD for November 27, 2014

On the daily chart, the GBP/USD pair gained a bullish momentum above the support level of 1.5746, where the pair is trying to reach the level of 1.5883. If the GBP/USD pair manages to make a breakout in that area, the next target would be the 1.6046 level. However, the GBP/USD pair could enter a phase of consolidation in the coming days due to low liquidity expected on the American markets. The MACD remains in the positive territory.
Dailychart's resistance levels: 1.5883 / 1.6046
Dailychart's support levels: 1.5746 / 1.5642

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**InstaForex Gertrude** · 28-11-14, 09:09

Technical analysis of EUR/USD for November 28, 2014

When the European market opens, some economic news will be released such as German Retail Sales m/m, French Consumer Spending m/m, Italian Monthly Unemployment Rate, Italian Quarterly Unemployment Rate, CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate, and Italian Prelim CPI m/m. The US will not release any economic reports. So, in this context EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2513.
Strong Resistance:1.2505.
Original Resistance: 1.2493.
Inner Sell Area: 1.2481.
Target Inner Area: 1.2451.
Inner Buy Area: 1.2421.
Original Support: 1.2409.
Strong Support: 1.2397.
Breakout SELL Level: 1.2389.

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