Instaforex Analysis

**InstaForex Gertrude** · 15-04-16, 08:42

Elliott wave analysis of EUR/JPY for April 15 - 2016

Wave summary:
With a low at 122.70, EUR/JPY failed to make a new low below 122.54 indicating either a fifth wave failure or that a more complex correction is unfolding in red wave [iv]. We will continue to look for resistance at 123.66 and, if broken just above 124.23, for the final decline towards 121.75 and maybe even slightly lower to 120.45. The long-term ideal target at 117.37 does not seem realistic anymore.Trading recommendation:We are short in EUR from 123.76 and will move our stop lower to break-even. If this stop is hit then we will be looking to sell EUR again at 124.25 with stop at 125.25.

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**InstaForex Gertrude** · 03-05-16, 08:38

Technical analysis of EUR/JPY for May 03, 2016

Technical outlook and chart setups:
The EUR/JPY pair rallied through 122.90 levels yesterday before pulling back lower. As it was discussed yesterday, the pair should extend its retracement towards 123.30 levels at least. Please note that the pair could have also formed a double bottom at 121.50 levels, but that would be confirmed on a break above 126.40 levels. In either case, a rally should be unfolding through fibonacci 0.382 or 0.618 resistance levels as depicted on the chart here. It is hence recommended to remain long for now, with risk at 121.00 levels. Immediate support is seen at 121.50 levels, while resistance is at 123.30 levels respectively.

Trading recommendations:
Remain long for now, stop at 121.40, targets are 123.30 and 124.50.

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**InstaForex Gertrude** · 14-06-16, 08:32

Technical analysis of NZD/USD for June 14, 2016

NZD/USD is expected to trade in a lower range as the bias remains bullish. The pair failed to break above its horizontal resistance and overlap at 0.7080 after having tested it for at least two times yesterday. Meanwhile, a bearish cross has been identified between the 20-period and 50-period moving averages (a negative signal). Last but not least, the relative strength index is capped by a descending trend line. To conclude, a break below 0.6980 would trigger a new pullback towards 0.6940.

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 0.6980. A break of this target will move the pair further downwards to 0.6940. The pivot point stands at 0.7080. 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 0.7120 and the second one at 0.7150.

Resistance levels: 0.7120, 0.7150, 0.7185
Support levels: 0.6980, 0.6940, 0.69

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**InstaForex Gertrude** · 20-09-16, 09:44

Technical analysis of EUR/JPY for September 20, 2016

General overview for 20/09/2016:
The main scenario that included the triangle pattern possibility has been invalidated as the wave c green had broken below the support at the level of 113.81. Currently, the next best count is an impulsive structure in development that might have been completed already. The bottom for the wave (2) would be at the level of 113.48 and if the count is correct, then we should see an impulsive trend resumption to the upside.

Support/Resistance: 112.92 - WS1
113.41 - Intraday Support
114.00 - Golden Trend Line Support
114.29 - Intraday Resistance
114.49 - Weekly Pivot 115.04 - WR1
116.36 - Local Swing High

Trading recommendations:
Day traders should consider opening buy orders from current price levels with SL just below the level of 113.40 and TP open for now.

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**InstaForex Gertrude** · 07-10-16, 09:28

Technical analysis of USDX for October 7, 2016

With the British pound collapsing overnight and a widespread Dollar strength, price has broken above important support levels and previous short-term highs. Is this a real breakout or a fake one as a result of a thin overnight market? With the announcement of the NFP today, a very interesting trading day is promised.

Blue lines - bullish channel
The Dollar index remains in its bullish upward sloping channel. Price is now testing the upper channel boundaries. Trend remains bullish. Support is at 96.25 and if broken we could see a decline towards 95.75. Below 95.50 we will have a confirmation of a fake breakout and a very important bearish reversal signal.

On a weekly basis we finally see the weekly candle break above the weekly cloud resistance. This is an important bullish signal for the longer-term trend of the Dollar index. A rejection today could only be caused by the NFP numbers announced later in the day. A rejection here will be a very bearish signal. Important support levels are now at this week's lows and at 95.20. Next important resistance is at 97.60 the July high. A break above it will increase the chances of a new bull trend starting targeting new highs above 102-103.

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**InstaForex Gertrude** · 05-01-17, 08:32

Technical analysis of GBP/JPY for January 05, 2017

GBP/JPY is expected to trade with a bearish bias as the key resistance is at 144.10. The pair remains capped by its descending 20-period moving average and remains on the downside. Meanwhile, the relative strength index is below 50 and lacks upward momentum. As long as 144.10 is not broken above, a break below 143.15 seems likely.

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 143.15. A break below this target will move the pair further downwards to 142.85. The pivot point stands at 144.10. If 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 144.40 and the second one at 144.95.

Resistance levels: 144.40, 144.95, 145.40
Support levels: 143.15, 142.85, 142.00

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**InstaForex Gertrude** · 13-01-17, 08:10

Technical analysis of EUR/USD for Jan 13, 2017

When the European market opens, there is no Economic Data will be, but the US will release the economic data, such as Federal Budget Balance, Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Core PPI m/m, Retail Sales m/m, PPI m/m and Core Retail Sales m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0660.
Strong Resistance:1.0653.
Original Resistance: 1.0643.
Inner Sell Area: 1.0633.
Target Inner Area: 1.0608.
Inner Buy Area: 1.0583.
Original Support: 1.0573.
Strong Support: 1.0563.
Breakout SELL Level: 1.0556.

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**InstaForex Gertrude** · 23-01-17, 08:08

Technical analysis of EUR/USD for Jan 23, 2017

When the European market opens, some Economic Data will be released, such as Consumer Confidence. Today, the US 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: 1.0775.
Strong Resistance:1.0769.
Original Resistance: 1.0758.
Inner Sell Area: 1.0747.
Target Inner Area: 1.0722.
Inner Buy Area: 1.0697.
Original Support: 1.0686.
Strong Support: 1.0675.
Breakout SELL Level: 1.0669.

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**InstaForex Gertrude** · 08-02-17, 08:11

Technical analysis of EUR/USD for Feb 08, 2017

When the European market opens, some Economic Data will be released, such as German 10-y Bond Auction, and EU Economic Forecasts. The US will release the economic data, too, such as 10-y Bond Auction, and Crude Oil Inventories, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0728.
Strong Resistance:1.0721.
Original Resistance: 1.0711.
Inner Sell Area: 1.0701.
Target Inner Area: 1.0676.
Inner Buy Area: 1.0651.
Original Support: 1.0641.
Strong Support: 1.0631.
Breakout SELL Level: 1.0624.

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**InstaForex Gertrude** · 15-02-17, 07:40

Daily analysis of USDX for February 15, 2017

USDX got a bullish momentum during Tuesday's session after Yellen's speech at a Senate committee. It's now testing the resistance zone of 101.40, where a breakout should deliver more bullish bias toward 102.39, in an effort to strengthen the bullish scenario for the short-term. If the index does a pullback at the current stage, then we can expect a decline to test the 100.00 handle.

H1 chart's resistance levels: 101.43 / 102.38
H1 chart's support levels: 100.01 / 98.98

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 100.01, take profit is at 98.98 and stop loss is at 101.03.

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**InstaForex Gertrude** · 08-03-17, 08:39

NZD/USD intraday technical levels and trading recommendations for March 8, 2017

On December 16, the price level of 0.6960 failed to apply enough bullish pressure. Instead, bearish movement continued toward the lower limit of the depicted BUY zone (0.6860) which provided significant bullish rejection on December 23.

The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (Key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed further bullish advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action should be expected.

Bearish persistence below 0.7250 is needed to allow further bearish decline toward 0.7100 (note the previous bearish DAILY candlesticks expressed within the SELL-Zone).

As anticipated, bearish persistence below 0.7100 (Key-Level) allows further bearish movement toward 0.6960 where bullish rejection should be watched for a possible BUY entry.

On the other hand, any bullish pullback towards 0.7100 should be watched for a valid SELL entry if enough bearish rejection is expressed.

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**InstaForex Gertrude** · 09-03-17, 07:52

Technical analysis of EUR/USD for Mar 09, 2017

When the European market opens, some Economic Data will be released, such as Minimum Bid Rate and French Final Non-Farm Payrolls q/q. The US will release the economic data, too, such as Natural Gas Storage, Import Prices m/m, Unemployment Claims and Challenger Job Cuts y/y, so, amid the reports, EUR/USD will move in a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0588.
Strong Resistance:1.0581.
Original Resistance: 1.0571.
Inner Sell Area: 1.0561.
Target Inner Area: 1.0536.
Inner Buy Area: 1.0511.
Original Support: 1.0501.
Strong Support: 1.0491.
Breakout SELL Level: 1.0484.

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**InstaForex Gertrude** · 13-03-17, 07:57

Daily analysis of USDX for March 13, 2017

USDX continues to find support around 101.39, while it's trying to consolidate below the 200 SMA at H1 chart. If the index does a rebound at the current stage, it can test the 102.39 level and such move could possibly strengthen the bullish bias in the short-term. However, if USDX plummets below 101.39, it can reach the 100.44 level.

H1 chart's resistance levels: 102.39 / 103.40
H1 chart's support levels: 101.39 / 100.44

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 102.39, take profit is at 103.40 and stop loss is at 101.35.

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**InstaForex Gertrude** · 23-03-17, 07:50

Technical analysis of EUR/USD for Mar 23, 2017

When the European market opens, some Economic Data will be released, such as Consumer Confidence, Belgian NBB Business Climate, ECB Economic Bulletin, and GfK German Consumer Climate. The US will release the Economic Data, too, such as Natural Gas Storage, New Home Sales, and Unemployment Claims, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0841.
Strong Resistance:1.0835.
Original Resistance: 1.0824.
Inner Sell Area: 1.0813.
Target Inner Area: 1.0788.
Inner Buy Area: 1.0763.
Original Support: 1.0752.
Strong Support: 1.0741.
Breakout SELL Level: 1.0735.

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**InstaForex Gertrude** · 11-04-17, 08:39

Technical analysis of EUR/USD for Apr 11, 2017

When the European market opens, some Economic Data will be released, such as ZEW Economic Sentiment, Industrial Production m/m, and German ZEW Economic Sentiment. The US will release the Economic Data, too, such as 10-y Bond Auction, JOLTS Job Openings, and NFIB Small Business 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: 1.0649.
Strong Resistance:1.0642.
Original Resistance: 1.0632.
Inner Sell Area: 1.0622.
Target Inner Area: 1.0597.
Inner Buy Area: 1.0572.
Original Support: 1.0562.
Strong Support: 1.0552.
Breakout SELL Level: 1.0545.

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**InstaForex Gertrude** · 19-04-17, 09:33

Elliott wave analysis of EUR/JPY for April 19, 2017

Wave summary: EUR/JPY has now spiked to resistance at 116.55 indicating that a low is in place at 114.82 and a new rally to above 124.09 should be expected. Short term, we should expect a minor set-back towards 115.70 before the next impulsive rally higher towards 118.25. Above here, it will confirm the low has been seen and confirm a rally back to 122.88 and 124.09 on the way higher.

R3: 117.47
R2: 116.85
R1: 116.61
Pivot: 116.40
S1: 116.24
S2: 115.94
S3: 115.72

Trading recommendation:
We are long EUR from 115.25 with stop placed at 114.75. If you are not long EUR yet, then buy near 115.72 and use the same stop at 114.75.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 03-05-17, 09:16

Technical analysis of USD/JPY for May 03, 2017

In Asia, today Japan will not release any economic data. However, the US will release a series of fundamental data such as Federal Funds Rate, FOMC Statement, Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change. So there is a probability the USD/JPY pair will move with medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Resistance 3: 112.61.
Resistance 2: 112.39.
Resistance 1: 112.17.
Support 1: 111.90.
Support 2: 111.63.
Support 3: 111.46.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 30-05-17, 07:11

Daily analysis of USDX for May 30, 2017

The index remained in sideways during the Memorial Day in the United States, capped by the 200 SMA at H1 chart. The bears are still strong across the greenback and we can expect some declines towards 96.90. However, if USDX manages to break above the 200 SMA, it's expected to see a rally that tests the resistance area of 98.11.

H1 chart's resistance levels: 97.41 / 98.11
H1 chart's support levels: 96.90 / 96.25

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 96.90, take profit is at 96.25 and stop loss is at 97.56.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 31-05-17, 08:13

Technical analysis of EUR/USD for May 31, 2017

When the European market opens, some Economic Data will be released, such as Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, German Unemployment Change, French Prelim CPI m/m, and German Retail Sales m/m. The US will release the Economic Data, too, such as Beige Book, Pending Home Sales m/m, and Chicago PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1225.
Strong Resistance:1.1219.
Original Resistance: 1.1208.
Inner Sell Area: 1.1197.
Target Inner Area: 1.1171.
Inner Buy Area: 1.1145.
Original Support: 1.1134.
Strong Support: 1.1123.
Breakout SELL Level: 1.1117.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 08-06-17, 07:44

Technical analysis of EUR/USD for June 08, 2017

When the European market opens, some Economic Data will be released, such as Minimum Bid Rate, Revised GDP q/q, French Trade Balance, and German Industrial Production m/m. The US will release the Economic Data, too, such as Natural Gas Storage, and Unemployment Claims, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1308.
Strong Resistance:1.1302.
Original Resistance: 1.1291.
Inner Sell Area: 1.1280.
Target Inner Area: 1.1254.
Inner Buy Area: 1.1228.
Original Support: 1.1217.
Strong Support: 1.1206.
Breakout SELL Level: 1.1200.

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