Thread: Instaforex Analysis
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05-01-15, 08:56 #1
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Daily analysis of major pairs for January 5, 2015
EUR/USD: The EUR/USD trended downwards on Friday, closing below the resistance line at 1.2050. The support line at 1.2000 is being tested and with further exertion of selling pressure, it may be breached to the downside. After this, the price may then go for another support line at 1.1950.
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07-01-15, 09:00 #2
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Daily analysis of major pairs for January 7, 2015
EUR/USD: The bias here is bullish and the price may go further downwards, reaching the support line at 1.1850. There is a recalcitrant resistance line at 1.2000, which could be a great hurdle to the bulls interests.
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08-01-15, 09:04 #3
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Technical analysis of gold for January 08, 2015
Technical outlook and chart setups:
Gold seems to be preparing to correct deeper into $1,200.00 and subsequently $1,185.00 levels for now. It is therefore recommended to book partial or full profits on long positions taken earlier and wait for correction to finish before entering again. Immediate support is seen at $1,200.00 followed by $1,189.00, $1,170.00 and lower, while resistance is seen at $1,238.00/40, $1,250.00 and higher respectively. Bulls are poised to remain in control as long as prices stay above $1,170.00 levels, but a break below the trend line would delay matters further.
Trading recommendations:
Book profits on long positions taken earlier, remain flat for now.
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09-01-15, 08:48 #4
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Technical analysis of gold for January 09, 2015
Technical outlook and chart setups:
A daily chart view has been depicted here again for a larger view of wave structures. Gold had bounced off the support from $1,170.00 levels and reached $1,220.00/23.00 levels before pulling back. At the moment, the metal can be seen testing a dropping resistance trendline. A bullish bounce from current levels could possibly push the metal higher into $1,235.00 and higher levels. Another possibility still remains for a drop into $1,190.00 levels before rallying further. It is recommended to remain flat for 1-2 days and watch out for a reaction at the trendline. Immediate support is at $1,200.00 levels followed by $1,190.00 and lower while resistance is seen at $1,235.00 levels, followed by $1,255.00 and higher respectively.
Trading recommendations:
Remain flat for now. Look to buy lower.
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12-01-15, 09:02 #5
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Weekly technical levels for GBP/USD for January 12-16, 2015
Forecast:
According to the previous events, the price of GBP/USD pair has still been trapped between 1.5068 and 1.5255. The level of 1.5306 represents strong resistance. Also, it should be noted that the price of 1.5318 coincides with the ratio of 100% Fibonacci retracement levels. The minor support has set at the level of 1.5102. Hence, we expect a range about 58 pips on January 12. Therefore, the market is going to call for a downtrend from the level of 1.5285. Thus, sell below the level of 1.5285 in the short term with the first target of 1.5143, it might resume to 1.5053 if the trend will be able to break the weekly pivot point at the level of 1.5171. It should be noted that the weekly support 1 will set at 1.5023.
Notes:
According to our statistics, it was found out that the range was between 240 pips and 285 pips and the average range was around 266 pips. Major support will set at 1.5023 on January 12, 2015. The level of 1.5170 represents the weekly pivot point. Major resistance has already set at the price of 1.5306. It should be noted that the weekly range was not very large for the last four weeks.
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13-01-15, 08:45 #6
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Technical analysis of NZD/USD for January 13, 2015
Forecast:
According to the previous events, the NZD/USD pair has still been moving between 0.7835 and 0.7745. Strong resistance will be formed at the level of 0.7864 (the double top on H1 chart) providing a clear signal for sell deals with the targets seen at 0.7791 and 0.7740. Stop-loss is to be placed above 0.87893. The strong level (support) will be formed at the mark of 0.7741 providing a clear signal for buy deals with the target seen at the 0.7835 level. Stop-loss is to be placed below 0.7719.
Notes:
The level of 0.7780 is representing the daily pivot point. The double top will be set at the level of 0.7864. We expect a range of 62 pips today. But it should be noted that the risk of 42 pips must make a profit of 63 pips. Volatility: 162.451. Therefore, the market indicates the higher volatility. The value of 50% Fibonacci retracement levels is 0.7741 (for confirming for the bullish market).
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14-01-15, 08:47 #7
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Daily analysis of major pairs for January 14, 2015
EUR/USD: This currency trading instrument still has the potential to continue trading further down in the context of the existing bearish trend. When the support line at 1.1750 is breached to the downside, it would ensure more southerly trip towards another support line at 1.1700.
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20-01-15, 09:15 #8
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Daily analysis of USDX for January 20, 2015
The USDX is still following the bullish bias in the long term, because this instrument was forming a higher high pattern above the support level of 91.88 and during the last days, the bullish momentum has unleashed the buy orders at the USDX, giving it a good road to perform a consolidation above the resistance level of 93.02 in the near term. The MACD indicator is trying to enter the negative territory.
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21-01-15, 09:46 #9
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Daily analysis of major pairs for January 21, 2015[
EUR/USD: This is a weak market and the recent bullish attempt in it was being thwarted by bearish effort. The price is currently below the resistance line at 1.1550 and it may reach the support line at 1.1500.
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26-01-15, 09:16 #10
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Technical analysis of EUR/JPY for January 26, 2015
Technical outlook and chart setups: The EUR/JPY pair has dropped by 5 waves down from 149.80 to sub 131.00 levels, depicted with arrows here. It looks like the pair is preparing for a counter trend rally that could extend towards 142.30 levels. Immediate support is seen at sub 130.00 levels, while resistance is seen at 133.00 respectively. A break above 133.00 would confirm that the rally has resumed and it would be recommended to initiate long positions on dips there after. As discussed earlier, the bigger picture indicates that EUR/JPY might be heading into a deeper correction lower towards 115.00/116.00 levels. For now, a 3-wave counter trend rally seems more probable.
Trading recommendations: Could buy on dips after 133.00 breaks.
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27-01-15, 08:38 #11
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Daily analysis of major pairs for January 27, 2015
EUR/USD: After testing the support line at 1.1100, the EUR/USD pair bounced upwards by over 190 pips. The upward bounce pales into insignificance when compared to the overall bearish bias, which is now very strong. In other words, the current upward bounce is better seen as a clean opportunity to sell short as the price rallies in the context of a downtrend.
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28-01-15, 09:02 #12
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Daily analysis of GBP/USD for January 28, 2015
The GBP/USD pair had another bullish session during yesterday, as this pair is trading close to the resistance level of 1.5247. Remember that a breakout on that zone could activate buy orders on this pair to the nearest resistance level of 1.5491. Anyway, from a general view, the GBP/USD pair is still forming a bearish pattern and that bias is still valid.
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29-01-15, 08:50 #13
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Daily analysis of major pairs for January 29, 2015
EUR/USD: The situation on this pair is nearly similar to that of EUR/JPY. From the beginning of this week, the market moved upward by roughly 300 pips, reaching the resistance line at 1.1400. From that line, the market has begun another phase of bearish movement in conjunction with the overall bias which is bearish.
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30-01-15, 08:58 #14
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Technical analysis and trading recommendation on USD/JPY for January 30, 2015
The strong US dollar took the pair towards 20Dsma. The US unemployment claims plunged, which gave a strong support to the greenback. In the week ending January 24, the flash figure for seasonally adjusted initial claims was 265,000, a decrease of 43,000 from the previous week's revised level. This is the lowest level for initial claims since April 15, 2000. But the Pending home sales data was disappointing, it declined 3.7%. On the other hand, Japan's retail sales unexpectedly fell in December. Sales declined 0.3% percent from November for a third month in a row. Today, the focus has shifted to US preliminary GDP. The pair has been still consolidating in the same tight range between 118.85 and 117.10 as we discussed in our earlier reports. The prices are trading within a triangle on the h4 chart. In case if the prices managed to give an upside breakout, it can challenge towards 120.50. In yesterday's session the pair managed to close above 34hrsma levels. The prices are facing strong resistance at the 80.0 fib level on the h4-chart. For about 3 hours, the prices have been taking support from the previous swing high at 118.24. We recommend buying at the current price of 118.27 with the targets at 118.50, 118.65, and 118.80. On a positional basis, until the pair holds at 117.00 and trades above 118.85, it can give another stellar show towards 120.00+. In case if the pair breaks below 117.00, it can extend its fall to 115.00 and panic will spark below 115.00. The intraday support levels exists at 118.15 and 117.85. We recommend selling only below 117.85, until bulls have an upper hand.
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02-02-15, 09:08 #15
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Daily analysis of GBP/USD for February 02, 2015
The GBP/USD pair continues to get more bearish pressure every day. Currently, it's trying to perform a breakout at the support level of 1.5025. This zone has been tested several times, but the pair is still very bearish. However, this outlook could change in the near future, if the GBP/USD pair makes a breakout above the resistance level of 1.5247, where this pair could rise until the resistance level of 1.5491.
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03-02-15, 08:38 #16
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Daily analysis of GBP/USD for February 03, 2015
On the daily chart, we can see the domination of the bearish bias on the GBP/USD pair. The pressure remains, as the pair is trying to consolidate below the support level of 1.5025. That breakout could take place during this week, when GBP/USD price action shows us that a lower low pattern is fully finished. The MACD indicator remains in the positive territory.
During the last session, the GBP/USD pair made a breakout in the 1.5039 zone, where the pair could start to form a solid bearish pattern to continue looking for more lows in the short-term bias. Anyway, our targets on the downside remains placed at the support level of 1.4994 and 1.4957, and this could be possible because the 200 SMA is bearish.
Daily chart's resistance levels: 1.5247 / 1.5491
Dailychart's support levels: 1.5025 / 1.4853
H1 chart's resistance levels: 1.5039 / 1.5084
H1 chart's support levels: 1.4994 / 1.4957
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4994, take profit is at 1.4957, and stop loss is at 1.532.
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04-02-15, 08:39 #17
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Technical analysis of Gold for February 04, 2015
Technical outlook and chart setups: Gold drops to test intermediary lows at $1,250.00 levels as seen here. The metal still remains in control of bulls till prices remain above $1,250.00. It is recommended to remain long and also look to add further positions at current levels. A bullish bounce is expected from current levels, which could push the yellow metal through fresh swing highs and subsequently towards $1,340.00. Please note that the yellow metal had bounced off the fibonacci 0.382 support at $1,250.00 levels earlier and the current drop is still considered as a test. Bulls are poised to rally.
Trading recommendations: Remain long, stop at $1,245.00, the target is $1,340.00.
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05-02-15, 08:37 #18
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Daily analysis of major pairs for February 5, 2015
EUR/USD: This pair tested the resistance line at 1.1500, broke through it and later failed to close above it. The dip that occurred as a result is serious enough to be a danger to the current bullish possibility. A movement below the support line at 1.1250 would mean the end of the bullish possibility and the reversal of the recent bearish trend.
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06-02-15, 08:39 #19
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#USDX Technical analysis for February 6, 2015
The Dollar index confirms the fact that the Dollar is currently weak and more weakness is around the corner. The Dollar index has managed to move lower after being rejected by the short-term resistance. The black line is the resistance trend line and price has gotten rejected every time. Price is below the Ichimoku cloud. Therefore, we should expect more downside pressures to arise and push the index lower for a bigger than normal correction.After a long time, the weekly chart is showing signs of reversal and some increased bearishness. The Dollar index has weekly support at 91.65 by the tenkan-sen (red) trend line. The longer-term trend remains bullish and a pullback towards 92-91.50 could be a great buying opportunity.
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11-02-15, 08:40 #20
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Daily analysis of GBP/USD for February 11, 2015
The corrective moves on the GBP/USD pair are still on the way, as the pair is trying to perform a bullish consolidation above the level of 1.5247. Now, we're watching a higher high pattern formation of the GBP/USD pair on the daily chart. We expect a rise until the resistance level of 1.5491, when the pair finishes developing that pattern. The range established between the levels of 1.5249 and 1.5210 continues to be respected by the GBP/USD pair on the H1 chart, because the pair found strong support in the zone of 1.5210. However, later the pair was rejected from the level of 1.5249. By the way, it seems that bulls could take the ride on the GBP/USD pair in an intraday outlook. The MACD indicator is still on the positive territory.
Daily chart's resistance levels: 1.5247 / 1.5491
Dailychart's support levels: 1.5025 / 1.4841
H1 chart's resistance levels: 1.5249 / 1.5302
H1 chart's support levels: 1.5210 / 1.5166
Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5249, take profit is at 1.5302, and stop loss is at 1.5196.
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