Instaforex Analysis

**InstaForex Gertrude** · 17-12-13, 11:37

Exxon yearly breakout channel

Exxon Mobil shows a good rally from the October low at 84.84. It has moved all the way to 98.8. Indicators are overbought slightly. It has broken up yearly trendline. I could expect Exxon to move much more higher to levels around 103. Monthly charts are showing bigger targets. Before an upward movement, it should make some correction and consolidation to move higher.
Support 96.6 94.5 94.2

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**InstaForex Gertrude** · 18-12-13, 11:31

AUD/USD analysis for December 18, 2013

AUD/USD Elliott Wave
For the last few days, the AUD/USD pair has been trading downwards, impulsive wave 5 (coloured blue) of the bigger wave 1 (coloured green) has been developing. Yesterday, during the Asian and European session we could observe descending 0.8957 towards the 0.8881 level and we can consider this as the end of the 1 wave (coloured green). Therefore, during the New York session, this commodity pair did not manage to hold this level and the price has retraced back to 0.8927 level. At the moment, the USD/CAD pair is trading around 0.8927 level and we are expecting to see more upward movements in the next few days. In accordance with our wave rules and taking into account that wave 2 should retrace 50% of wave 1 we can define the potential targets with measuring wave 1 with take profit at 0.9316 (50% of wave 1). To reduce the risk, we can use invalidation point at 0.8880 level as stop loss.

Support and resistance
(S3) 0.8792 (S2) 0.8837 (S1) 0.8868 (PP) 0.8913 (R1) 0.8944 (R2) 0.8989 (R3) 0.9020

Trading forecast
Proceeding from Elliot Wave rules today, the trend is expected to begin the upwards movements. That is why long position at level 0.8950 with stop loss at 0.8880 and take profit at 0.9316 are recommended.

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**InstaForex Gertrude** · 19-12-13, 11:38

USD/CAD analysis for December 19, 2013

USD/CAD Elliott Wave
For the last few days the USD/CAD pair has been trading upwards, impulsive wave .iii (coloured black) of the bigger wave iii (coloured blue) has been developing. Yesterday, during the Asian and European session we could observe strong ascending movement from 1.0600 towards 1.0669 level. Therefore, during the New York session this commodity pair has continued trading in a bullish mood and the price reached a new sessions high at 1.0718 level. At the moment the USD/CAD pair is trading around 1.0722 level and we are expecting to see more upwards movements in the final (5) wave.In accordance with our wave rules and taking into account that wave 5 should retrace 61.8% of wave 4 we can define the potential targets with measuring wave 3 with take profit at 1.0797 (61.8% of wave 4). To reduce the risk, we can use invalidation point at 1.0620 level as stop loss.

Support and Resistance
(S3) 1.0540 (S2) 1.0557 (S1) 1.0582 (PP) 1.0599 (R1) 1.0624 (R2) 1.0641 (R3) 1.0666

Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movements. That is why long positions at 1.0700 with stop loss at 1.0600 and take profit at 1.0797 are recommended.

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**InstaForex Gertrude** · 20-12-13, 12:15

Intraday technical levels for USD/JPY for December 20, 2013

Today Japan will release some data like Monetary Policy Statement; BOJ Press Conference. The US will release the US-Final GDP q/q; and Fed Chairman Nomination Vote. So there is a probability that USD/JPY will move with low to moderately volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 104.85.
Resistance. 2 : 104.65.
Resistance. 1 : 104.44.
Support. 1 : 104.18.
Support. 2 : 103.98.
Support. 3 : 103.77.

DESCRIPTION:
Please, pay attention to the levels of support 3 (103.77) and resistance 3 (104.85). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 23-12-13, 12:09

GBPCHF turns from resistance between 1.47-1.4750. Hold short positions

Technical outlook and chart setups:
As expected, the currency pair has reversed from the resistance zone of 1.4700/50, producing an engulfing bearish candle. Short positions might have triggered and it is recommended to hold the same and also add on intraday rallies from here on. Risk remains at 1.4900. Resistance is at 1.4900; while support is at 1.4350, followed by 1.4200 and 1.4000 respectively. The entire structure might be unfolding as a head and shoulder reversal; where the current engulfing bearish is probable right shoulder. Extensions are pointing towards 1.4150 and 1.4000 levels respectively. Prices should remain below 1.4900 levels from here on.

Trading recommendations:
Remain short, set stop at 1.4910, target is open.

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**InstaForex Gertrude** · 26-12-13, 12:03

Technical analysis of GBP/USD for December 26, 2013

Overview:
The GBP/USD pair was not stable and the trend was not also so clear (it was tight sideways range); moreover, according to the previous events, the price has still been trapped between the level of 1.6450 and 1.6220, so be careful in this area. Therefore, it should wait for a period of tight sideways range market before breakouts. Then, it will probably that the market is going to start showing the signs of bullish market from the support at the level 1.6220. In other words, it will be a good sign to buy above 1.6220 with the first target of 1.6350 and it will climb towards 1.6450. However, If the pair does not break 1.6473, the market will indicate a bearish opportunity below the resistance that will be set at the level 1.6473. The level will be strong resistance. And probably the market will call for downtrend from the level of 1.7473 in order to continue bearish towards 1.6346 (the weekly pivot point).

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**InstaForex Gertrude** · 27-12-13, 10:52

Crude near resistance mark at $100.

Crude is holding above the 21EMA level facing stiff resistance at the level of $100. Intraday downside support is at $99 mark. Last week, I gave a buy call for $103 target, now I am extending the targets. Trades above the level $100 mark, it could fly towards $102, $104 levels.

Recommendation- Buy on dips with sl at $96 for targets at $104.

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**InstaForex Gertrude** · 03-01-14, 12:13

Dow near crucial level 2

Dow reaches its upper trend line at the level 16700. Last couple of times we mentioned that the level near 16700 is the very crucial level for Dow. Yesterday Dow hits intra high at the level of 16562 and closed at 16444 indicating triple digit loss. In the daily charts, oscillators shows negative divergence. The new year started in a negative notes for equities. Its first negative start after the year of 2008.

Support - 16,170 16,058 15,900
Resistance - 16,700
Close above 16,700, Dow will enter a new trend.
Recommendation - sell with sl 16700

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**InstaForex Gertrude** · 06-01-14, 10:51

Gold near major resistance

Gold continues its upper move after hitting the upper high at $1,182. It holds the June's low and close above the uneconomical level $1,200, which is a bull factor. In the weekly and daily charts, oscillators indicate positive divergence, hourly chart gives an overbought sign. We are still on the bearish note for the level of $1,170 and even lower.
In the hourly chart, oscillators show an overbought sign and hold above the 21 EMA at $1,232. As per daily charts, some more up move steam left before big leg down.
Resistance $1,245 $1,252 $1,268
Support $1,232 $1,220
Price closes above $1,269 on a daily basis can make further bullishness. We recommend sell on rallies until prices meet at the level of $1,100.

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**InstaForex Gertrude** · 06-01-14, 10:58

Gold near major resistance

Gold continues its upper move after hitting the upper high at $1,182. It holds the June's low and close above the uneconomical level $1,200, which is a bull factor. In the weekly and daily charts, oscillators indicate positive divergence, hourly chart gives an overbought sign. We are still on the bearish note for the level of $1,170 and even lower.
In the hourly chart, oscillators show an overbought sign and hold above the 21 EMA at $1,232. As per daily charts, some more up move steam left before big leg down.
Resistance $1,245 $1,252 $1,268
Support $1,232 $1,220
Price closes above $1,269 on a daily basis can make further bullishness. We recommend sell on rallies until prices meet at the level of $1,100.

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**InstaForex Gertrude** · 07-01-14, 10:28

Euro Little Changed Following German Retail Sales

After the release of German retail sales for November at 2:00 am ET Tuesday, the euro changed little against other major currencies.
The euro was trading at 1.3620 against the greenback, 142.22 against the yen, 0.8305 against the pound and 1.2342 against the franc around 2:03 am ET.

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**InstaForex Gertrude** · 08-01-14, 11:23

Technical analysis of EUR/USD for January 8, 2014

Overview:
The EUR/USD pair has been trading in a tight sideway range since January 6, 2013 and the price has also set below the weekly resistance 1 at the level of 1.3743, moreover the price has already formed double bottom at the 1.3571 level. Accordingly, the market will move between 61.8% of Fibonacci retracement levels (1.3743) and 00% of Fibonacci retracement at the price of 1.3571. In particular, it should noted that at the level of 1.3543 which represents the support, we can expect explosive breakout and it is likely that the market is going to start showing the signs of bullish market. In other words, it will be a good sign to buy above double bottom at the level of 1.3543 with a first target at 1.3663 in order to test the weekly pivot point and it will climb towards 1.3728. However, if the the price of the EUR/USD pair breaks 1.3543 and closes below it, the market will indicate a bearish opportunity below 1.3543 then the best location to set stop loss should be at the 1.3545 price.

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**InstaForex Gertrude** · 09-01-14, 10:30

Technical analysis Of GBP/CHF for January 09, 2014

Technical outlook and chart setups:
1. The currency pair has stopped us out at 1.4950 in the past session. As seen in the weekly chart here, a former resistance at 1.5000 has also been broken. It is recommended to remain flat for now. The 1.5150 level is into focus now.
2. The next resistance is at the 1.5150 level, while support is just below 1.4900, followed by 1.4800 and lower.
3. The structure reveals that GBP/CHF is on its way towards at least 1.5150 for now. A bearish reaction there could possibly reverse the trend. Trading recommendations:
Flat for now.

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**InstaForex Gertrude** · 10-01-14, 10:37

Daily analysis of USD/CHF for January 10, 2014

Overview:
According to the previous events, the price of the USD/CHF pair has still been movin between the levels of 0.9115 and 0.9003. In the same away, the range of the pair was around 60 pips today. Volatility was only 54,56; therefore, the market indicates lower volatility, so we expect medium volatility on January 10, 2013, because, as it is known, the market is low volatile if the last day had not huge volatility. Additionally, the level of 0.9115 has set below 78.6% of Fibonacci retracement levels and it has formed a strong resistance for that the key level of 0.9115 is represented for downtrend to confirm the bearish market. Equally important, the market was so stable and the trend was also too clear (downward). In consequence, sell deals are recommended below the 0.9115 level with targets at 0.9065 in order to test the minor support, and it will resume towards 0.9010 to attempt testing the support of the week at the 0.9003 level.

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**InstaForex Gertrude** · 13-01-14, 09:44

Weekly technical levels for GBP/USD for January 13-17, 2014

Overview:
As it is known, historic rates should be used to determine future prices. According to the previous events of the last week, the GBP/USD pair has still been moving between 1.6405 and 1.6550 for five days. It should be also noticed that the price has closed at the level of 1.6482. Expect a move to resistance 1 or back towards the weekly pivot point. Therefore, buy in the short period at the 1.6464 level with the first target of 1.6516 in order to test the last double top; futhermore, it might resume towards 1.6550. Nevertheless, it must beware because sometimes the market seems that it doesn't follow our forecast. So for getting out spank from the market before losing your profit, it will be very meaningful to set stop loss below the weekly support at 1.6360.

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**InstaForex Gertrude** · 14-01-14, 10:57

Technical analysis of Gold for January 14, 2014.

Technical outlook and chart setups:
1. Gold rallied through the $1,255.00 levels yesterday and a push today could see $1,267.00/70.00 before pullback. It is recommended to remain flat for now and look to enter on a dip.
2. Immediate resistance is at $1,267.00, while supports are spread through $1,220.00, followed by $1,210.00 (the fibonacci 0.618 support), $1,182.00 and lower.
3. The structure reveals that the rally from $1,182.00 has unfolded in 5 waves (a push towards $1,267.00/70.00 is still possible) till now. A 3 wave correction can be expected now towards $1,210.00-$1,206.00 levels before rally continues.

Trading recommendations:
Remain flat for now. Look to buy lower on dips.

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**InstaForex Gertrude** · 15-01-14, 09:59

Technical analysis of GBP/USD for January 15, 2014

Overview:
The GBP/USD pair will probably be trapped between 1.6373 and 1.6516 consequently; it is of the wisdom to be careful at this range area of 143 pips. In particular, it will be too meaningful to wait for a period of tight sideway range market before investing. Equally important, the level of 1.6373 formed a strong support, as well as this price is very conformity with 23.6% of the Fibonacci retracement levels. Thereupon, it is likely that the market is going to start showing the signs of bullish market. In other words, it will be a good sign to buy above the 0.6373 level with the first target of 1.6445 in order to retest the weekly pivot point and it will climb towards the price of 1.6516 for forming double top. Additionally, it should also be noted that the weekly resistance 1 for January 15-17, 2013 is set at 1.6553. However, If the the pair does not break this resistance, the market will indicate a bearish opportunity below 1.5660, then the level will act really as strong resistance, for that it will a good sign to sell below 1.6553 with the first target of 1.5503 and it will call for downtrend in order to continue bearish towards 1.6466 tomorrow.

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**InstaForex Gertrude** · 16-01-14, 11:09

Technical analysis of USD/CHF for January 16, 2014

Overview:
The USD/CHF pair has not shown signs of a break of the highest level of 0.9126, but it has opened today above the weekly support at the level of 0.9050; therefore, it will be a good sign to buy above the level of 0.9050 with the first target of 0.9115 and resume to 0.9145 in order to form a new double top on January 16, 2013. However, in case a reversal takes place and the USD/CHF pair breaks through the support level of 0.9050, then the market will lead to further decline to 0.9004 (00% Fibonacci retracement levels) for testing the double bottom of the last week, as well as it will be able to indicate the correction movement at this level. Meanwhile, in the H1 chart represents a strong support at the first weekly support at 0.8977, besides the channel emerging of RSI has still positive in the daily frame, for that the RSI calls for a new upleg at this level. Moreover it should be noted a point of view that the MA(100) would be more of a confirmation for uptrend but in a short term period.

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**InstaForex Gertrude** · 17-01-14, 10:03

Technical analysis of GBP/USD for January 17, 2014

Overview: T
he resistance of the GBP/USD pair had been already set at the level of 1.6445 (the weekly pivot point on January 17, 2013) and a minor resistance has set at the 1.6373 level. Therefore, according to the previous events, the price has still been moving between 0.6370 and 0.6285, then it should be noted that the range today will be around 110 pips. Consequently, the trend in the 1H time frame will be calling for a bearish market at the level of 1.6400. Hence, below 1.6400 look for further downside move with targets at 1.6330, if it will be able to break the minor support for today at 1.6333, so the price will continue towards 1.6265 today in order to test the weekly support. Notwithstanding, it should be always beware to set a stop loss, thus the best location to set the stop loss in this case should be above the weekly pivot point.

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**InstaForex Gertrude** · 20-01-14, 11:40

Technical analysis of GBP/CHF for January 20, 2014

Technical outlook and chart setups:
1. The currency pair is just shy of 1.5020 as seen here. Also please note that the back side of the trend line is being tested as well. It is recommended to hold short positions for now with risk at 1.5020.
2. Resistance is fixed at the 1.5020 level, while support is spread through 1.4720/30 (intermediary), followed by 1.4550, and 1.4350 respectively.
3. The structure reveals that prices are probing resistance before finally giving into bearish swing. If not lower, prices are expected to reach at least 1.4800/20. A break of this level would prove further bearish and extend towards 1.4550.

Trading recommendations:
Hold short positions and add further, stop is at 1.5030, target is open.

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