Instaforex Analysis

Daily analysis of EUR/JPY for May 18, 2018

EUR/JPY
There are still mixed signals in the market. The EMA 11 is slightly below the EMA 56, and the RSI period 14 is slightly above the level 50. It may be prudent to stay away from this market until there would be a directional movement in it.

At least, in the short-term, nothing has really changed in this market. The price plummeted on Monday and Tuesday and Wednesday, to test the demand zone at 129.50. After that, a rally effort was made, which made price rose by 110 pips, thereby frustrating the bears. Investors may want to wait until there is a directional movement in the market.

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Technical analysis of Gold for May 21, 2018

Gold price is breaking down below the recent $1,285-$1,295 consolidation. Gold price could see $1,270-75, but the bearish divergence signs continue to warn us that the next big move will be to the upside. I'm a buyer of Gold at the current or lower levels.

Blue lines - bullish divergence warning
Green lines - target levels
Yellow line - medium-term resistance
Red line - short-term resistance

Short-term resistance is at $1,292. I expect Gold price to soon break above it and move towards our first targets of $1,302-$1,304. Next important resistance is at $1,310-13 where I can see the next big trend test. With a break above this level, the price will move towards the 50% and 61.8% Fibonacci retracement. A weekly close above the 61.8% Fibonacci retracement will open the way for a bigger move towards $1,425. Gold is at its final stages of the move from the $1,365 level.

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Daily analysis of USDX for May 23, 2018

The index managed to make a retracement from the Monday's highs, but the 200 SMA remains as a dynamic support in the short-term, where also it has formed a fractal. We should remind that a breakout above 94.10 can open the doors for a testing of the 94.88 level. However, a breakout below the 200 SMA on H1 chart should strengthen the bearish bias.

H1 chart's resistance levels: 94.10 / 94.88
H1 chart's support levels: 93.12 / 92.33

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bearish candlestick; the support level is at 94.10, take profit is at 94.88 and stop loss is at 93.30. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

Elliott wave analysis of EUR/NZD for May 25, 2018

EUR/NZD is now in its final stages of the wave c/ of ii/. Ideally, we will see a minor dip closer to support near 1.6806 before the wave ii/ is complete, but we would not be surprised to see a premature low form for a new rally higher through minor resistance at 1.6958 and, more importantly, above resistance at 1.7061 confirming that the wave iii/ higher to test important resistance at 1.7300 is developing.

R3: 1.7061
R2: 1.6981
R1: 1.6958
Pivot: 1.6915
S1: 1.6883
S2: 1.6846
R3: 1.6806

Trading recommendation: We are looking for a EUR-buying opportunity at 1.6815 or upon a break above 1.6960.

Analysis are provided by InstaForex

Trading Plan for EUR/USD for May 28, 2018

Technical outlook:

The EUR/USD pair finally looks to stage a counter trend rally towards the 1.1950/1.2050 levels from here. In the immediate short term outlook, the pair should be looking to take out the 1.1750 levels, which is short term resistance. Then expect a dip towards the 1.1670/80 levels, before the counter trend rally gains further momentum higher. Please note that the 0.382 fibonacci resistance is seen at the 1.1940/50 levels as projected here. Immediate price support is seen at the 1.1500 levels, which should be the next potential target for bears. Now looking into the wave counts, the EUR/USD pair is still progressing into its 3rd wave of a lesser degree and is expected to carve the wave 4, before dropping lower into the wave 5 within the wave (3) as depicted here. Selling on rallies remains a preferred trading strategy for now.

Trading plan:
Aggressive traders may initiate longs around the 1.1675/1.1700 levels going forward; while conservative traders may remain flat for now and look forward to sell again between the 1.1930 and 1.2050 levels respectively.

Fundamental outlook:
There are no major events lined up for the day.

Good luck!

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Elliott wave analysis of EUR/JPY for May 29, 2018

The rally from 127.11 became much smaller than we expected and the following break back below 127.11 shifted our count back to the prior preferred count calling for a decline to 125.32 before a possible low of the wave C and (E) is in place.

Short-term resistance is seen at 127.28 and a clear break back above here will be the first indication of a low being in place, but only a break above resistance at 128.54 will confirm that the wave (E) has bottomed and a new long-term rally is starting to develop.

R3: 128.54
R2: 127.71
R1: 127.28
Pivot: 126.93
S1: 126.49
S2: 125.80
S3: 125.32

Trading recommendation: We bought EUR at 127.75 and was stopped out shortly after for a loss of 70 pips. We are looking for a new EUR-buying opportunity, but for now we will only buy upon a break above 127.28.

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Elliott wave analysis of EUR/NZD for May 30, 2018

The break below the important support at 1.6670 was unexpected and has forced us to shift our long-term count. This new count still favors a bullish outlook, but sees a very complex corrective structure in the wave ii. From the peak of the wave i at 1.7099 in early February, a double corrective combination has been seen. First, a flat correction as the wave W and then a expanded flat as the wave Y to complete the wave ii. Either the wave ii is complete or very close to completing near after a final spike to just below 1.6653.

In the short-term, a break above the minor resistance at 1.6786 and, more importantly, a break above 1.6903 will confirm that the wave ii has completed and a new impulsive rally in the wave iii is developing above 1.7300.

R3: 1.6903
R2: 1.6828
R1: 1.6786
Pivot: 1.6710
S1: 1.6653
S2: 1.6642
S3: 1.6607

Trading recommendation:
Our stop at 1.6665 was triggered for a loss of 150 pips. We will be looking for a new buying opportunity, but waiting for a break above 1.6786.

Analysis are provided by InstaForex

Elliott wave analysis of EUR/NZD for May 31, 2018

Wave ii/ likely saw a low with the test of 1.6624. We still need to see a break above the resistance-line near 1.6734 and more importantly a break above minor resistance at 1.6764 to add confidence in our view that a low likely is in place. As long as minor resistance at 1.6764 is able to cap the upside, we could still see another attack towards the downside, but the downside potential seems very limited from here.

A break above minor resistance at 1.6764 will target the more important resistance at 1.7062 and above here will confirm that wave iii/ to above 1.7300 is developing.

R3: 1.6903
R2: 1.6829
R1: 1.6764
Pivot: 1.6705
S1: 1.6683
S2: 1.6656
S3: 1.6624

Trading recommendation:
We will buy a break above minor resistance at 1.6764 and if done place our stop at 1.6620.

Analysis are provided by InstaForex

Technical analysis of USD/CAD for June 01, 2018

https://forex-images.ifxdb.com/userf...09a58ae6d0.png

Overview:

Pivot: 1.2961.

The USD/CAD pair will continue to rise from the level of 1.2914. The support is found at the level of 1.2914, which represents the 61.8% Fibonacci retracement level on the H1 chart. The price is likely to form a double bottom. Today, the major support is seen at 1.2914, while immediate resistance is seen at 1.3021. Accordingly, the USD/CAD pair is showing signs of strength following a breakout of the high at 1.2914. So, buy above the level of 1.2914 with the first target at 1.3021 in order to test the daily resistance 1 and move further to 1.3049. Also, the level of 1.3049 is a good place to take profit because it will form a new double top. Amid the previous events, the pair is still in an uptrend; for that we expect the USD/CAD pair to climb from 1.2914 to 1.3049 today. At the same time, in case a reversal takes place and the USD/CAD pair breaks through the support level of 1.2914, a further decline to 1.2849 can occur, which would indicate a bearish market.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis of Bitcoin for June 04, 2018

https://forex-images.ifxdb.com/userf...4adb4ad74e.jpg

If we look at the 4-hour chart, we see that Bitcoin has hit the dynamic support Exponential 100-period Moving Average by Close (near a downward sloping channel). It seems that BTC is going down to test the lower channel and this has been already confirmed too by divergence between the Stochastic Oscillator and the price. A long as this Cryptocurrency does not break out and closes above the 7,754.45 level, the bias of the Bitcoin price is still bearish.

(Disclaimer)

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

The growth of the UK economy resumed

Weak data on the euro area in the first half of the day hurt the European currency, which again failed to gain the right move to get beyond the large resistance levels paired with the US dollar, which were formed yesterday.

The report on the budget deficit of France partially supported the euro only.

According to the data, the budget deficit of France for the first four months of this year decreased compared to the same period in 2017.

Thus, the budget deficit amounted to 54.3 billion euros at the end of April this year against 57.9 billion euros at the end of April 2017.

As noted in the report of the Ministry of Finance, the deficit was reduced as a result of a sharp decrease in costs, as well as the recapitalization of energy companies. It should be noted that tax revenues have also decreased. As I noted above, retail sales in the euro area were the main reason for the decline in the European currency in the first half of the day.

According to the data, in April of this year, retail sales in the euro area grew by only 0.1% compared to March, where data were revised up to a growth of 0.4%. Compared to the same period in 2017, retail sales grew by 1.7% against growth by 1.5% in 2017. A weak sales report is likely to affect the eurozone's GDP in the second quarter of this year, which will have a negative impact on the European currency in the medium term.

Today, for the first time, a new Italian Prime Minister, Giuseppe Conte, delivered a speech before the senate, who said that the main economic indicators will be achieved not through a strict economy, but through economic growth, which will also reduce public debt.

Conte also said that Italy will introduce a minimum hourly wage and universal basic income. He also noted that the taxation system will be simplified and become fairer.

As for the technical picture, it did not change much in comparison with the morning forecast. The pressure on the euro is maintained, which gradually returns the trading instrument to important levels of support in the area of 1.1620.

The British pound grew strongly against the US dollar after a report that showed that activity in the UK services sector grew in May this year, giving a good boost to economic growth after weakening at the beginning of the year.

According to the research company IHS Markit, the index of supply managers for the service sector in May rose to 54.0 points from 52.8 points in April. Let me remind you that the index values above 50 indicate an increase in activity.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

The dollar continues to weaken before the meeting of the Federal Reserve

The dollar declines at the trading session in Europe against almost all major currencies. The main reason for this, in our opinion, is the reduction in expectations that the Fed will decide this year to raise interest rates four times.

The exchange rate of the American currency is gradually decreasing in the wake of a similar drop in the hopes of market players that the currency wars launched by Donald Trump will exert pressure on economic growth both within the States and the entire world economy. In addition, the slowdown in the first quarter of the country's GDP growth and the stagnation of inflationary pressures began to shake the hopes of investors that the regulator will go on increasing interest rates four times this year.

At the same time, the chances of the euro significantly increased. According to the latest data, CPI rose 1.9% year-on-year, reaching close to the 2.0% target set by the ECB. This news, as well as the possible preservation of the growth rate of the region's economy, which the GDP data will have to signal today, may allow the Euro-currency to continue a more confident recovery. It is projected that in annual terms the eurozone's GDP will remain at the same level, 2.5%, and its quarterly value will keep the growth rate 0.4%. If the data does not disappoint, it will be possible to expect a noticeable growth of the single currency, and this is most likely to be observed in the eurodollar pair, as now the changes in the prospects for the ECB monetary policy are marked.

An additional stimulus to the growth of the euro could be the G-7 summit, where current conflicts can be resolved and new agreements reached, which can reduce the degree of tension and the probability of expanding trade wars. Although such a probability exists, it is unlikely that Donald Trump will seriously retract. Therefore, this growth in hopes may turn out to be short-lived.

Forecast of the day:

EURUSD is trading at the level of 1.1830. Positive data from the euro area's GDP may push the pair up to 1.1900, but for this it needs to overcome the 1.1830 mark and gain a foothold above it.

The GBPUSD pair has overcome the level of 1.3450 on the wave of "weakness" of the US dollar. It is likely that before the Fed meeting to be held next week, the pair will receive support and grow to 1.3550.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

Trump and the Big Seven: Did not reach an agreement

Trump and the Big Seven: They did not reach an agreement.

On Friday and Saturday, June 8-9, Canada hosted the G-7 summit. Despite the large number of issues on the agenda, the issue is really only one, it's the main one: the new fees that Trump introduces against the US trade partners - against China and Mexico - and against the US allies - Canada and European countries.

The outcome of the first day of the summit is short: they did not agree. There are no joyful media reports about a "breakthrough" in the main issue. All the efforts of the participating countries turned out to somehow sign the final text - it must be signed before the middle of the Saturday, June 9, as Trump announced in advance that he would fly early to Hong Kong for a meeting with the head of North Korea.

All media write that everything could have ended even worse-the refusal of countries to sign the final text - and this is actually a complete collapse of the group of seven.

Let's note an interesting turn of the plot around Russia. Trump, even before the summit, to all the other leaders of the Seven, unexpectedly said that it was necessary to return Russia to the Seven (that is, to the G8, respectively). Trump's proposals were quickly rejected by the leaders of Germany and Britain, but Italy supported it. Very quickly, literally within one or two hours, Putin's spokesman Peskov said that the Kremlin (read - Putin) is not interested in returning to the G8 - "we are more interested in developing other formats." (On this day, Putin met with the leader of China, Xi Jinping).

At the very meeting of the Group of Seven, Trump did not raise the topic of Russia's accession to the Group of Eight. At the same time, it was stated that "all European countries in the Group of Seven are against the return of Russia - until the conflict is settled in Ukraine" (that is, Italy was promptly "persuaded"). Still, we note that Germany and Sweden and Finland agreed to the construction of the Nord Stream 2 gas pipeline - which was opposed by Trump ... (this is not about the Group of Seven, but important for the overall picture).

The result is this: the General Statement of the Group of Seven will most likely be signed - but there is no main text in the text - a decision on the trade dispute over the new Trump duties. At the same time, the EU is preparing an introduction in July of reciprocal duties on goods from the United States. The last attempt to agree - Merkel's proposal to convene a "forum" specifically on the issue of trade conflicts.

How will this affect the markets? I do not think that we will have a noticeable gap at the opening on Monday. But I do not see any reason for rapid growth.

EURUSD - closing day and week.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

EUR/CHF Bounced Off Support, Prepare For Further Rise

EUR/CHF bounced off its support at 1.1581 (61.8% Fibonacci extension, 61.8% & 38.2% & 23.6% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 1.1658 (61.8% Fibonacci extension, horizontal swing high resistance).

Stochastic (55, 5, 3) bounced off its intermediate support at 10% where a corresponding rise is expected.

Buy above 1.1581. Stop loss at 1.1534. Take profit at 1.1658.

https://forex-images.ifxdb.com/userf...09055b938a.png

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided byInstaForex.

AUD/USD Approaching Support, Prepare For A Bounce!

AUD/USD is approaching its support at 0.7560 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where we expect to see a bounce, causing the price to rise to its resistance at 0.7659 (61.8% & 50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (89, 5, 3) is approaching its support at 9.6% where a corresponding bounce is expected.

Buy above 0.7560. Stop loss 0.7513. Take profit at 0.7659.

https://forex-images.ifxdb.com/userf...1eab5b42d0.png

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Elliott wave analysis of EUR/NZD for June 19, 2018

Our short-term expectations for EUR/NZD was spot on. First, we saw a minor corrective set-back to 1.6671 (we were looking for 1.6676) before moving higher to 1.6795 (we were looking for a rally into the 1.6768 - 1.6793 area to complete the first impulsive rally of the 1.6567 low. With this five wave rally complete with the test of 1.6795 we will be looking for a correction in wave ii/ into the 1.6652 - 1.6679 area before moving higher in wave iii/ towards at least 1.7047.

R3: 1.6842
R2: 1.6817
R1: 1.6794
Pivot: 1.6758
S1: 1.6728
S2: 1.6695
S3: 1.6671

Trading recommendation:
We will sell EUR here at 1.6772 and place our stop at 1.6845. We will take profit and buy EUR at 1.6680

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

Elliott wave analysis of EUR/NZD for June 20, 2018

Wave i/ extended higher to a peak at 1.6831 before letting wave ii take over for a correction lower to at least the low of wave four of one lesser degree at 1.6671. This is very close to the 61.8% corrective target of wave i/ seen at 1.6667. Once this correction is complete near the 1.6667 - 1.6671 area, we will be looking for wave iii/ higher to at least 1.7086.

Short-term, we expect minor resistance at 1.6766 to be able to cap the upside for the decline into the 1.6667 - 1.6671 area to complete wave ii/.

R3: 1.6830
R2: 1.68.12
R1: 1.6788
Pivot: 1.6766
S1: 1.6729
S2: 1.6700
S3: 1.6680

Trading recommendation: We are short EUR from 1.6772 and we will move our stop +revers lower to 1.6815. We will take profit and buy EUR at 1.6680.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

Technical analysis of Gold June 21, 2018

If We look at the Daily Charts from Gold, We can see clearly they moving in Weekly Up Slope Channel, and now they have a retracement to the down side as long as they not breakout and close above the 1304.93 Gold will going down 1236.09 as their Support level.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

Elliott wave analysis of EUR/NZD for June 22, 2018

The minor correction we expected from 1.6921 moved slightly lower than expected and spiked down to 1.6806, but that does not change our outlook for a new impulsive rally soon towards 1.7133 and above.

Short-term, we could see another minor spike to near 1.6806 before the next move higher should be expected.

Only an unexpected break below support at 1.6737 will question our bullish outlook.

R3: 1.7025
R2: 1.6964
R1: 1.6933
Pivot: 1.6890
S1: 1.6837
S2: 1.6784
S3: 1.6737

Trading recommendation:
We are long EUR from 1.6815 with our stop placed at 1.6730. If you are not long EUR yet, then buy near 1.6806 or upon a break above 1.6933 and use the same stop at 1.6730.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

Elliott wave analysis of EUR/JPY for June 25, 2018

We continue to look for more upside here. A break above minor resistance at 1.6933 will call for a continuation higher towards 1.7133 as the next minor upside target on the way higher. Support is now seen at 1.6806 and is expected to be able to protect the downside for a break above 1.6933.

R3: 1.7025
R2: 1.6964
R1: 1.6933
Pivot: 1.6890
S1: 1.6837
S2: 1.6806
S3: 1.6784

Trading recommendation:
We are long EUR from 1.6815 with our stop placed at 1.6730. If you are not long EUR yet, then buy near 1.6806 or upon a break above 1.6933 and use the same stop at 1.6730.

Analysis are provided by InstaForex

Trading Plan for Crude Oil for June 26, 2018

Technical outlook:
A medium-term time frame has been presented (4 hours) here, and the most probable wave counts have been labelled here. It looks to be like a bearish resumption trade setup is getting ready in Crude Oil now. Let us understand the wave counts from sub 73.00 levels. The drop from 73.00 to almost 63.50 has been an impulse (unfolding into 5 waves) as labeled here. The entire drop can be labeled as wave (1). The subsequent rally then unfolded into a probable Zigzag (5-3-5) corrective wave structure, labeled as a-b-c here. Also note that the termination of the wave (2) is just at Fibonacci 0.618 resistance, around 69.50 levels, which triggered a sharp reversal yesterday. if this ave structure holds to be good, we should witness a continued drop lower towards 58.00 and 48.00 respectively. Ideally, prices should now stay below 73.00 levels going forward.

Trading plan:
Remain short now, stop above 73.00, target 58.00 at least.

Fundamental outlook:
Watch out for US Consumer confidence numbers to be out today at 10:00 AM EST.

Analysis are provided by InstaForex

Technical analysis on Gold for June 27, 2018

Gold price remains in a bearish trend. Price is approaching important weekly support levels and at least a short-term bounce is approaching. Gold price has weekly oversold signals, warning not to be bearish at current levels. We have no reversal confirmation yet, but we believe that soon we will see the reversal. The key level is at $1,268.

https://forex-images.ifxdb.com/userf...334ebb8805.png

Green line - long-term support

Red line - long-term resistance

Blue arrows - reversal points when Stochastic was oversold.

Gold price is challenging the weekly cloud support and the weekly upward sloping trend line. All the previous times the stochastic was so oversold, Gold rallied. Our time frame is for the next 1-2 months and therefore our risk tolerance should be similar to the downside. Our target remains new highs above $1,400.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis of USD/CAD for June 28, 2018

https://forex-images.ifxdb.com/userf...43115c9e2d.png

Overview:
The USD/CAD pair broke the resistance that turned into strong support at the level of 1.3247 since days. The level of 1.3247 coincides with the ratio of 78.6% Fibonacci which is expected to act as a major support on the H1 chart today. Consequently, the first support is set at the level of 1.3247. Moreover, the RSI starts signaling an upward trend, and the trend is still showing strength above the moving average (100). Hence, the market is indicating a bullish opportunity above the area of 1.3247/1.3300. So, the market is likely to show signs of a bullish trend around 1.3247 - 1.3300. In other words, buy orders are recommended above the ratio of 78.6% Fibonacci (1.3247) with the first target at the level of 1.3387 in order to test the first resistance in the same time frame. If the pair succeeds to pass through the level of 1.3387, the market will probably continue towards the next objective at 1.3442. The daily strong support is seen at 1.3247. Thus, if a breakout happens at the support level of 1.3243, then this scenario may be invalidated.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis of USD/CHF for June 29, 2018

https://forex-images.ifxdb.com/userf...5d1567fa48.png

The USD/CHF pair faced resistance at the level of 0.9943. The strong resistance has been already formed at the level of 0.9943 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 0.9943, the market will indicate a bearish opportunity below the new strong resistance level of 0.9943 (the level of 0.9943 coincides with a ratio of 78.6% Fibonacci). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bearish opportunity below 0.9943, so it would be good to sell at 0.9940 with the first target of 0.9795. It will also call for a downtrend in order to continue towards 0.9733. The daily strong support is seen at 0.9733. On the other hand, the stop loss order should always be taken into account, for that it will be reasonable to set your stop loss at the level of 1.0055 (the double top on the H4 chart).


*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis of Gold for July 03, 2018

https://forex-images.ifxdb.com/userf...af7032629c.jpg

From the Daily Charts we know the Gold bias is still in a Bullish Condition, this can be seen by the Gold still moving in an up Channel event. Now Gold has a correction and tries to test the nearest Support level at 1,235.72 but it seems that in a few days Gold will be back to its previous bias (Bull). This is already confirmed by the Stochastic Oscilator now at the Oversold level and preparr to go up above the 20 level, so the next few days ahead it seems the Gold will go back to the previous bias (Bull). (Dsiclaimer)

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis of AUD/USD for July 04, 2018

https://forex-images.ifxdb.com/userf...c1b73e117f.png

Overview:
Last week, the AUD/USD pair fell from the level of 0.7474 towards 0.7348. Now, the price is set at 0.7371. The resistance is seen at the levels of 0.7426 and 0.7474. Moreover, the price area of 0.7474 remains a significant resistance zone. Therefore, there is a possibility that the AUD/USD pair will move downside and the structure of a fall does not look corrective. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside. Thus, amid the previous events, the price is still moving between the levels of 0.7426 and 0.7257. If the AUD/USD pair fails to break through the resistance level of 0.7426, the market will decline further to 0.7474 as the first target. This would suggest the bearish market because the RSI indicator is still in a negative spot and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.7302 so as to test the daily support 2. On the other hand, if a breakout takes place at the resistance level of 0.7474, then this scenario may become invalidated.

Analysis are provided byInstaForex.

Technical analysis: Intraday Level For EUR/USD, July 05, 2018

https://forex-images.ifxdb.com/userf...d98bfa9d84.jpg

When the European market opens, some Economic Data will be released such as French 10-y Bond Auction, Spanish 10-y Bond Auction, Retail PMI, and German Factory Orders m/m. The US will release the Economic Data too, such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, Unemployment Claims, ADP Non-Farm Employment Change, and Challenger Job Cuts y/y, so, amid the reports, EUR/USD will move in a medium to high volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1718.
Strong Resistance:1.1711.
Original Resistance: 1.1700.
Inner Sell Area: 1.1689.
Target Inner Area: 1.1661.
Inner Buy Area: 1.1633.
Original Support: 1.1622.
Strong Support: 1.1611.
Breakout SELL Level: 1.1604.

Analysis are provided byInstaForex.

Technical analysis of NZD/USD for July 06, 2018

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The NZD/USD (kiwi) pair continues to move downwards from the level of 0.6840. This week, the pair dropped from the level of 0.6840 to trade around the 0.6775 level. This level of 0.6840 coincides with the major resistance today. Today, the first resistance level is seen at 0.6840 followed by 0.6880, while daily support 1 is found at 0.6742. Also, the level of 0.6775 represents a key price today for that it is acting as major resistance/support this week. Amid the previous events, the pair is still in a downtrend, because the NZD/USD pair is trading in a bearish trend from the new resistance line of 0.6840/0.6807 towards the first support level at 0.6742 in order to test it. If the pair succeeds to pass through the level of 0.6742, the market will indicate a bearish opportunity below the level of 0.6742. Then, resell again at the price of 0.6742 with the targets of 0.6716 and 0.6697. On the other hand, if a breakout happens at the resistance level of 0.6840, then this scenario may be invalidated.

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Wave analysis of EUR / USD. The euro continues to adhere to the working scenario

Analysis of wave counting:

During the trades on Friday, the currency pair EUR / USD added about 50 percentage points, remaining thus in the stage of construction of the proposed wave 3, c, 4. If this is the case, then the quotes will continue to rise with targets near the mark of 1.1856, which corresponds to 100.0% of Fibonacci, and higher. The wave c can assume a pronounced 5-wave structure, which allows one to assume the growth of the pair to area 20 of the figure. The construction of wave 5 of the downward trend section is being postponed for an indefinite period.

The objectives for the option with sales: 1.1440 - 323.6% of the Fibonacci of the highest order
1,1118 - 423.6% of Fibonacci

The objectives for the option with purchases:
1.1866 - 100.0% of Fibonacci
1.2072 - 127.2% of Fibonacci

General conclusions and trading recommendations:

The pair EUR / USD continues to rise within wave 3, c, 4. Thus, on July 9 I recommend to remain in purchases with targets located near the calculated marks of 1.1856 and 1.2072, which corresponds to 100.0% and 127.2% of Fibonacci. Return to sales, I recommend after receiving confirmation of the completion of the entire wave 4. At the moment there is no sign of the completion of the construction of this wave.

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Trading Plan for EUR/USD for July 12, 2018

Technical outlook:

The hourly EUR/USD chart presented here indicates that the currency pair is dropping in a corrective manner since printing highs at the 1.1790 levels recently. At this point in time, prices are finding support at a past resistance turned support zone around the 1.1660/70 levels. According to the Fibonacci extensions displayed here, it remains quite possible for the pair to drop through the 1.1650/30 levels to find further support before turning higher. The price support is seen at the 1.1590 levels, followed by the 1.1530 levels, respectively, while interim resistance is seen at the 1.1790 levels. Most probable direction is to push higher at least one last time towards 1.1850 and above, before reversing lower again. Please note that in the medium term, till the prices remain below the 1.2150 levels, bears shall be in complete control.

Trade plan:

Aggressive traders, now look to buy again between the 1.1630/60 levels, with stop below 1.1550 and target above 1.1850.

Fundamental outlook:

Watch out for USD CPI at 0800 AM EST today.

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Technical analysis of NZD/USD for July 13, 2018

Overview: The NZD/USD pair continues to move downwards from the level of 0.6840 (23.6% of Fibonacci retracement). This week (from 9 to 13 July 2018), the pair has dropped from the level of 0.6840 to trade around the 0.6775 level. This level of 0.6840 coincides with the major resistance today. Today, the first resistance level is seen at 0.6840 followed by 0.6880, while daily support 1 is found at 0.6742. Also, the level of 0.6775 represents a key price today for that it is acting as major resistance/support this week. Amid the previous events, the pair is still in a downtrend, because the NZD/USD pair is trading in a bearish trend from the new resistance line of 0.6840/0.6807 towards the first support level at 0.6742 in order to test it. If the pair succeeds to pass through the level of 0.6742, the market will indicate a bearish opportunity below the level of 0.6742. Then, resell again at the price of 0.6742 with the targets of 0.6716 and 0.6697. On the other hand, if a breakout happens at the resistance level of 0.6843, then this scenario may be invalidated.

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Technical analysis of Bitcoin For July 16, 2018

The Bitcoin at the 4-hour charts looks clearly moving in a Bearish bias. This can be confirmed by the price still moving in a down slope channel and the Exponential Moving Average period 21 still bellow the Linear Weighted Moving Average period 55, as long as the price does not break out and close above the 6,360.51, it is highly likely the bias from this cryptocurrency will still be in a Bearish condition.

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Technical analysis: Intraday Level For EUR/USD, July 17, 2018

When the European market opens, there's no Economic Data will be released from the Euro Zone, but The US will release the Economic Data such as TIC Long-Term Purchases, NAHB Housing Market Index, Industrial Production m/m, and Capacity Utilization Rate, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1767.
Strong Resistance:1.1760.
Original Resistance: 1.1749.
Inner Sell Area: 1.1738.
Target Inner Area: 1.1710.
Inner Buy Area: 1.1682.
Original Support: 1.1671.
Strong Support: 1.1660.
Breakout SELL Level: 1.1653.

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Technical analysis: Intraday level for USD/JPY, July 18, 2018

In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data such as Beige Book, Crude Oil Inventories, Housing Starts, and Building Permits. So, there is a probability the USD/JPY will move with a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Resistance. 3: 113.54.
Resistance. 2: 113.32.
Resistance. 1: 113.10.
Support. 1: 112.82.
Support. 2: 112.60.
Support. 3: 112.38.

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Technical analysis: Intraday Level For EUR/USD, July 19, 2018

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When the European market opens, some Economic Data will be released such as Spanish 10-y Bond Auction. The US will release the Economic Data too, such as Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, and Philly Fed Manufacturing Index, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1701.
Strong Resistance:1.1694.
Original Resistance: 1.1683.
Inner Sell Area: 1.1672.
Target Inner Area: 1.1644.
Inner Buy Area: 1.1616.
Original Support: 1.1605.
Strong Support: 1.1594.
Breakout SELL Level: 1.1587.

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Technical analysis: Intraday Level For EUR/USD, July 20, 2018

When the European market opens, some Economic Data will be released such as Current Account and German PPI m/m. The US today will not release any Economic Data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1711.
Strong Resistance:1.1704.
Original Resistance: 1.1693.
Inner Sell Area: 1.1682.
Target Inner Area: 1.1654.
Inner Buy Area: 1.1625.

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Elliott wave analysis of EUR/NZD for July 24, 2018

We continue to look for more upside pressure through resistance at 1.7268 and more importantly through resistance at 1.7305, that calls for red wave iii towards 1.7505 on the way higher towards 1.8381.

Support is now seen at 1.7206 and again at 1.7170. Ideally the later will be able to protect the downside for the expected break above 1.7268.

R3: 1.7305
R2: 1.7268
R1: 1.7232
Pivot: 1.7208
S1: 1.7184
S2: 1.7164
S3: 1.7144

Trading recommendation:
We are long EUR at 1.7226 with our stop placed at 1.7110. If you are not long EUR yet, then buy EUR upon a break above 1.7268 and start by using the same stop at 1.7110.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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Elliott wave analysis of EUR/NZD for July 26, 2018

The ongoing correction in red wave ii keeps pushing lower, but it must not break below the start of red wave i at 1.7116 as a break below here, will confirm that black wave ii still is in motion and is headed for support at 1.7066. If, however, the low of red wave i at 1.7116 stays untouched, as we expected, for a break above the channel resistance near 1.7199, that will call for red wave iii towards 1.7510 on the way towards the first long-term target at 1.8381.
R3: 1.7305
R2: 1.7268
R1: 1.7199
Pivot: 1.7184
S1: 1.7165
S2: 1.7130
S3: 1.7116

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 the channel-resistance at 1.7199 and use the same stop at 1.7110.

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Elliott wave analysis of EUR/NZD for July 27, 2018

EUR/NZD is a break above the descending channel resistance-line near 1.7173 indicating that red wave ii completed with the test of 1.7130 and red wave iii towards 1.7510 now is developing.

Short-term, we would like to see a break above resistance at 1.7207 too, as confirmation that red wave iii is in motion for the next impulsive rally.

Support is now seen at 1.7162 and again at 1.7130. Ideally the later will be able to protect the downside for the expected break above 1.7207.

R3: 1.7305
R2: 1.7268
R1: 1.7207
Pivot: 1.7184
S1: 1.7162 S2: 1.7130
S3: 1.7116

Trading recommendation:
We are long EUR from 1.7226 with our stop placed at 1.7110. If you are not long EUR yet, you should buy here at 1.7180 or upon a break above 1.7207 and use the same stop at 1.7110.

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Elliott wave analysis of EUR/NZD for July 30, 2018

We continue to expect support at 1.1716 will be able to protect the downside for a break above resistance at 1.7207 that confirms, that red wave ii has completed and that red wave iii towards 1.7510 and above is developing.

An unexpected break below support at 1.7116 will tell us that the correction in black wave ii/ still is in motion for a continuation closer to 1.7067 before a possible corrective low should be in place.

R3: 1.7268
R2: 1.7207
R1: 1.7163
Pivot: 1.7137
S1: 1.7116
S2: 1.7067
S3: 1.7033

Trading recommendation:
We are long EUR from 1.7226, with our stop placed at 1.7110. If you are not long EUR, the buy a break above 1.7207 and use the same stop at 1.7110.

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