Instaforex Analysis

**InstaForex Gertrude** · 09-06-17, 07:35

Elliott wave analysis of EUR/NZD for June 9, 2017

Wave summary:

Wave ii/ has extended it's decline to 1.5468, which should be more than enough to complete wave ii/ and set the stage for a rally higher in wave iii/ towards 1.6655.

That said, we will need a break above minor resistance seen at 1.5720 to confirm that wave ii/ has completed and wave iii/ is developing.

R3: 1.5720
R2: 1.5667
R1: 1.5594
Pivot: 1.5525
S1: 1.5462
S2: 1.5391
S3: 1.5342

Trading recommendation:
WE are long EUR from 1.5540 and will place our stop at 1.5340.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 27-06-17, 07:23

Daily analysis of USDX for June 27, 2017

USDX is being capped by the resistance level of 97.42 and it's targeting the resistance level of 97.84 as the next key area for sellers. There is not a clear trend in the index amid sideways' start of the week for most of the markets. If the support level of 97.10 gives up in favor of the bears, then it can decline towards 96.87.

H1 chart's resistance levels: 97.43 / 97.84
H1 chart's support levels: 97.10 / 96.87

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 97.43, take profit is at 97.84 and stop loss is at 97.00.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 30-06-17, 07:31

Elliott wave analysis of EUR/NZD for June 30, 2017

Wave summary;

Red wave ii is likely turning into an expanded flat correction, which calls for a final decline to just below 1.5480 before turning strongly higher in red wave iii. After an expanded flat wave two correction, the following wave three rallies should be expected to extend and that will call for a rally to at least 1.6232 and possibly even higher.

R3: 1.5931
R2: 1.5801
R1: 1.5712
Pivot: 1.5650
S1: 1.5600
S2: 1.5500
S3: 1.5450

Trading recommendation:
We are long EUR from 1.5645 with stop placed at 1.5210. If you are not long EUR yet, then buy EUR near 1.5450 and use the same stop.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 19-07-17, 07:19

Technical analysis of NZD/USD for July 19, 2017

Overview:
The NZD/USD pair is showing signs of strength following a breakout of the highest level of 0.7307. On the H1 chart. the level of 0.7307 coincides with 61.8% of Fibonacci, which is expected to act as minor support today. Since the trend is above the 61.8% Fibonacci level, the market is still in an uptrend. So, major support is seen at the level of 0.7307. Furthermore, the trend is still showing strength above the moving average (100). Thus, the market is indicating a bullish opportunity above the above-mentioned support levels, for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside. Therefore, strong support will be found at the level of 0.7307 providing a clear signal to buy with a target seen at 0.7372. If the trend breaks the minor resistance at 0.7372, the pair will move upwards continuing the bullish trend development to the level 0.7400 in order to test the daily resistance 1. However, it would also be sage to consider where to place a stop loss; this should be set below the second support of 0.7287.

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**InstaForex Gertrude** · 21-07-17, 07:16

Technical analysis of USD/CHF for July 21, 2017

Overview:

The USD/CHF pair.
Pivot: 0.9590.
The swissy fell from the level of 0.9665 to bottom at 0.9523. The USD/CHF pair has faced strong support at the level of 0.9523 (the double bottom). Current price is around the spot of 0.9520. So, the strong support has been already faced at the level of 0.9523 and the pair is likely to try to approach it in order to test it again and form a double bottom. Hence, the USD/CHF pair is continuing to trade in a bullish trend from the new support level of 0.9523; to form a bullish channel. According to the previous events, we expect the pair to move between 0.9523 and 0.9665. Also, it should be noted major resistance is seen at 0.9665, while immediate resistance is found at 0.9590. Then, we may anticipate potential testing of 0.9665 to take place soon. Moreover, if the pair succeeds in passing through the level of 0.9665, the market will indicate a bullish opportunity above the level of 0.9665. A breakout of that target will move the pair further upwards to 0.9746. Buy orders are recommended above the area of 0.9523 with the first target at the level of 1.9590 and continue towards the levels of 0.9665 and 0.9746. However, if the USD/CHF pair fails to break out through the resistance level of 1.9590; the market will decline further to the level of 0.9453.

Analysis are provided by InstaForex

**IFX Yvonne** · 24-07-17, 08:47

NZD/USD Intraday technical levels and trading recommendations for July 24, 2017

Daily Outlook

The NZD/USD pair has been trending up within the depicted bullish channel since January 2016.

In November 2016, early signs of bullish weakness were expressed on the chart when the pair failed to record a new high above 0.7400.

A bearish breakout of the lower limit of the channel took place in December 2016. In February 2017, the depicted short-term downtrend was initiated in the depicted supply zone (0.7310-0.7380).

However, a recent bullish breakout above the downtrend line took place in May 22. Since then, the market has been bullish as depicted on the chart.

The price zone of 0.7150-0.7230 (SUPPLY ZONE in confluence with 61.8% Fibonacci level) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.

This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which is being temporarily breached to the upside.

Now the price zone of 0.7310-0.7380 turns to be a newly-established demand-zone to be watched for possible bullish rejection if any bearish pullback occurs.

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**IFX Yvonne** · 25-07-17, 08:45

AUD/USD prepare to sell on break of key support

The price is hovering above key support at 0.7871 (Fibonacci retracement, horizontal swing low support) and we prepare to sell once price breaks this key level. Our profit target is a push down to next key support level at 0.7741 (Fibonacci retracement, horizontal pullback support).

RSI (55) is seeing bearish momentum within its bearish descending channel.

Sell below 0.7871. Stop loss is at 0.7937. Take profit is at 0.7741.

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**IFX Yvonne** · 26-07-17, 09:01

USD/CHF profit target reached perfectly, prepare to sell

The price has shot up perfectly and reached our profit target from yesterday. We prepare to sell below major resistance at 0.9530 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) for a push down to at least 0.9436 support (Fibonacci extension, horizontal swing low support).

Stochastic (55,5,3) is right on major resistance at 95%.

Sell below 0.9530. Stop loss is at 0.9563. Take profit is at 0.9436.

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**InstaForex Gertrude** · 31-07-17, 07:17

Technical analysis of EUR/USD for July 31, 2017

When the European market opens, some economic data will be released such as unemployment rate, Italian flash CPI m/m, core CPI flash estimate y/y, CPI flash estimate y/y, Italian monthly unemployment rate, and German retail sales m/m. The US will release its pending home sales m/m and Chicago PMI. So amid the reports, the EUR/USD will move in a low to medium volatility today.

Today's technical levels:
Breakout buy Level: 1.1804.
Strong resistance:1.1797.
Original resistance: 1.1786.
Inner sell area: 1.1775.
Target inner area: 1.1747.
Inner buy area: 1.1719.
Original support: 1.1708.
Strong support: 1.1697.
Breakout sell level: 1.1690.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 09-08-17, 06:46

Germany shows its poor performance

Data for France and Germany, which came out in the morning, were completely ignored by the market. The low intraday volatility, which did not exceed 20 points in the EURUSD pair, indicates that many investors and traders prefer to take some pause, since the US dollar's rally since Friday is no longer supported by large players, and many market participants are in a bit of a confusion and are unsure how to proceed.

According to the statistics agency, there is a decline in German imports and exports. However, this has not yet affected the foreign trade balance.

As indicated in the report, Germany's exports in June this year compared with May decreased by 2.8%, while the reduction in imports was 4.5%. Germany's foreign trade surplus in June amounted to 21.2 billion euros, while economists predicted the trade balance at the level of 21.4 billion euros. It should be noted that as early as May of this year, the surplus passed the 20 billion euros mark for the first time.

The reduction in industrial production in Germany, which was reported yesterday, along with today's data, is the first alarm bell that the economic growth rate of the first-largest euro-zone economy is gradually slowing down, which will undoubtedly affect the indicators for the second quarter of this year.

According to the statistics agency, the current deficit in France's balance of payments increased. This happened due to the sharper than expected decline in exports.

According to the report, in June this year the negative balance of the current account the balance of payments totaled to 2.1 billion euros against 1.9 billion euros in May. The trade deficit rose to 4.7 billion euros. The deficit of the state budget of France in June rose to 62.3 billion euros from 61.8 billion euros in May. Since the inauguration of the new president of France, very little time has passed, but, as we recall, Macron promised to give a lot of effort to combat the budget deficit.

In the afternoon, data came from The Retail Economist and Goldman Sachs, according to which retail sales increased during the reporting week. So, the index of sales in US retail chains increased by 2.4% for the week from July 30 to August 5, while in comparison with the same period last year the index grew by 1.1%.

As for the technical picture of the EURUSD pair, it remained unchanged compared to the morning review.

A further downward trend will be entirely fixed at yesterday's support level of 1.1790, to gain a foothold below which it has not yet been possible. Selling is recommended after the return of the trading instrument under the level of 1.1790, with the main goal of reducing the support area to 1.1740. A breakthrough in this area will open up the possibility of the euro falling to new weekly lows of around 1.1670.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 10-08-17, 06:54

Elliott wave analysis of EUR/NZD for August 10, 2017

Wave summary:

EUR/NZD continues to work its way higher towards the expected target at 1.6236. This resistance should only be able to provide temporary resistance, before the next swing higher towards 1.6969.

Short-term support is now seen at 1.6005 and again at 1.5920.

R3: 1.6236
R2: 1.6196
R1: 1.6081
Pivot: 1.6050
S1: 1.6005
S2: 1.5959
S3: 1.5920

Trading recommendation:
We are long EUR from 1.5510 with stop placed at 1.5825. If you are not long EUR yet, then buy near 1.6005 and use the same stop at 1.5825.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 11-08-17, 07:01

Technical analysis of EUR/USD for Aug 11, 2017

When the European market opens, some Economic Data will be released, such as French Prelim Non-Farm Payrolls q/q, French Final CPI m/m, German WPI m/m, and German Final CPI m/m. The US will release the Economic Data, too, such as Core CPI m/m and CPI 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: 1.1825.
Strong Resistance:1.1818.
Original Resistance: 1.1807.
Inner Sell Area: 1.1796.
Target Inner Area: 1.1768.
Inner Buy Area: 1.1740.
Original Support: 1.1729.
Strong Support: 1.1718.
Breakout SELL Level: 1.1711.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 16-08-17, 07:12

Technical analysis of EUR/USD for Aug 16, 2017

When the European market opens, some Economic Data will be released, such as Flash GDP q/q and Italian Prelim GDP q/q. The US will release the Economic Data, too, such as FOMC Meeting Minutes, Crude Oil Inventories, Housing Starts, and Building Permits, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1796.
Strong Resistance:1.1789.
Original Resistance: 1.1778.
Inner Sell Area: 1.1767.
Target Inner Area: 1.1739.
Inner Buy Area: 1.1711.
Original Support: 1.1700.
Strong Support: 1.1689.
Breakout SELL Level: 1.1682.

Analysis are provided by InstaForex

**IFX Yvonne** · 19-10-17, 09:04

Technical analysis of EUR/USD for Oct 19, 2017

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, Philly Fed Manufacturing Index, and Unemployment Claims, so, amid the reports, EUR/USD will move in a ... volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1849.
Strong Resistance:1.1842.
Original Resistance: 1.1831.
Inner Sell Area: 1.1820.
Target Inner Area: 1.1792.
Inner Buy Area: 1.1764.
Original Support: 1.1753.
Strong Support: 1.1742.
Breakout SELL Level: 1.1735.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

**IFX Yvonne** · 02-11-17, 09:10

Technical analysis of USD/JPY for November 02, 2017

USD/JPY is expected to trade with bullish outlook above 113.55. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength is above its neutrality level at 50 and lacks downward momentum.

Therefore, as long as 113.55 holds on the downside, look for a further upside to 114.30 and even to 114.75 in extension.

Alternatively, if the price moves in the opposite direction, a short position is recommended below 113.55 with a target at 113.30.

Chart Explanation: The black line shows the pivot point. The current price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a short position. The red lines show the support levels and the green line indicates the resistance level. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 113.55, Take Profit: 114.30

Resistance levels: 114.30, 114.75 and 114.90 Support Levels: 113.30, 112.95, 112.70

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

**IFX Yvonne** · 06-11-17, 09:49

Wave analysis of the USD/CHF currency pair for November 6, 2017

Analysis of wave counting:

The attempt to continue the development of the downward correction on Friday failed, and after testing the 0.9950 mark, the price for the USD/CHF pair returned to the parity-level region. It can be assumed that the currency pair remained in the stage of formation of the 4th wave, in C, which until the end of the day retained the elements of some incompleteness. At the same time, one can not exclude the fact that the indicated rise of quotations can be further developed, and the wave structure of the third wave, in C, will take an even more complex and extended form in time.

Targets for an upward wave option:

1.0080 - 1.0100

Targets for a downward wave option:

0.9966 - 23.6% by Fibonacci

0.9922 - 38.2% by Fibonacci

General conclusions and trading recommendations:
The assumed wave 3, in C can be completed. If this assumption is correct, then the declining of quotations will continue within the wave 4 in the composition of C with targets near the estimated levels of 0.9966 and 0.9922, which is equivalent to 23.6% and 38.2% of Fibonacci. Wave 3, in C can further complicate its internal structure with targets that are above the price parity. In favor of this option, it can be two unsuccessful attempts to break through the mark of 0.9966.

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

**InstaForex Gertrude** · 21-11-17, 07:04

Technical analysis of EUR/USD for Nov 21, 2017

There is no Economic Data will be released when the European market opens, but the US will release the Economic Data, such as Existing Home Sales, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1801.
Strong Resistance:1.1794.
Original Resistance: 1.1782.
Inner Sell Area: 1.1770.
Target Inner Area: 1.1742.
Inner Buy Area: 1.1715.
Original Support: 1.1703.
Strong Support: 1.1691.
Breakout SELL Level: 1.1684.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

*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

**InstaForex Gertrude** · 28-11-17, 05:50

Technical analysis of EUR/USD for Nov 28, 2017

When the European market opens, some Economic Data will be released such as German GfK Consumer Climate, Private Loans y/y, M3 Money Supply y/y, and German Import Prices m/m. The US will release the Economic Data, too, such as Richmond Manufacturing Index, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, HPI m/m, Prelim Wholesale Inventories m/m, and Goods Trade Balance, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1962.
Strong Resistance:1.1955.
Original Resistance: 1.1944.
Inner Sell Area: 1.1933.
Target Inner Area: 1.1905.
Inner Buy Area: 1.1877.
Original Support: 1.1866.
Strong Support: 1.1855.
Breakout SELL Level: 1.1848

*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

**InstaForex Gertrude** · 21-12-17, 07:11

Elliott wave analysis of EUR/JPY for December 21, 2017

Wave summary:
The break above resistance at 134.50 told us that wave (D) still is developing and more upside towards the "old" 137.37 target should be expected to complete wave (D) and set the stage for the final decline within the huge triangle consolidation, that has been developing since July 2008. Support is now seen at 134.40 and again at 133.84. The later should be able to protect the downside for more upside closer to 137.37.

R3: 136.05
R2: 135.75
R1: 134.90
Pivot: 134.40
S1: 133.84
S2: 133.57
S3: 133.24

Trading recommendation:
We will buy EUR at 134.10 and place our stop at 133.40.

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

Analysis are provided byInstaForex.

**InstaForex Gertrude** · 22-12-17, 05:16

The US dollar returns to the game

Data in the first half of the Thursday exerted pressure on the European currency, not allowing it to get beyond its weekly highs against the US dollar. According to the report of a statistics agency, the level of confidence in the manufacturing sector in France in December of this year declined. Thus, the index of sentiment of companies in the manufacturing sector was at 112 points against the November value of 113 points. Despite this, a high level of confidence supports the economic growth of France. Restrained demand for the euro is also associated with early parliamentary elections, which took place in Catalonia. It is expected that the majority of seats in parliament can go to parties that advocate integrity, and which are against the independence of Catalonia. Coupled with another result, the pressure on the European currency may rise again. Weak data on the annual growth of US GDP in the 3rd quarter of this year did not allow the US dollar to further strengthen its positions against the European currency in the afternoon at the beginning of the US session. According to the report of the US Department of Commerce, the US economy in the third quarter of this year expanded by 3.2% compared with the same period in 2016, which is lower than the previous estimate. According to the previous estimate, the annual growth of US GDP in the third quarter was 3.3%. Economists forecast that GDP will remain unchanged at the level of 3.3%.

The main reason for the decline in the indicator was consumer spending, which dropped further during the reporting period than previously thought. Growth was noted in company investments and exports.

As for the technical picture of the EURUSD pair, an unsuccessful attempt to get beyond the resistance level of 1.1885 led to the expected downward correction in the trading instrument, which will likely be limited to support levels around 1.1830 and 1.1805.

The British pound rose after data on reduced borrowing of the UK public sector. According to the report, in November of this year, the net borrowing of the UK public sector decreased and amounted to 8.7 billion pounds compared to the same period of last year. As noted in the report, borrowing declined due to increased tax revenue.

As for the technical picture of the GBPUSD pair, it is likely that the pressure on the pound will continue and that will lead to a decline in the trading instrument towards the lower border of the channel to the area of 1.3330 and 1.3300, from which it was possible twice to see the return to the market of large buyers of the British pound.

Analysis are provided by InstaForex