Instaforex Analysis

**InstaForex Gertrude** · 14-01-16, 07:32

Daily analysis of GBP/USD for January 14, 2016

On H1 chart, GBP/USD is still doing a rebound above the support level of 1.4373, and we're watching very strong resistance around the 1.4464, where it has already formed some fractals that strengthen the bearish bias in a short and mid term basis. 200 SMA is still pointing to the downside and MACD indicator is entering negative territory, so we can expect a decline towards the 1.4309 level.

H1 chart's resistance levels: 1.4464 / 1.4555
H1 chart's support levels: 1.4373 / 1.4309

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 1.4373, take profit is at 1.4309, and stop loss is at 1.4437.

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**InstaForex Gertrude** · 18-01-16, 08:06

Daily analysis of GBP/USD for January 18, 2016

On the H1 chart, GBP/USD is still working so well in our bearish outlook presented several articles ago, as the pair is trying to extend its decline towards the support zone of 1.4198. A breakout below there will expose the pair to test the level of 1.4080. The current structure is calling for more declines, but the MACD indicator starts to show oversold conditions.

H1 chart's resistance levels: 1.4309 / 1.4373
H1 chart's support levels: 1.4198 / 1.4080

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 seen at 1.4198, take profit is at 1.4080, and stop loss is at 1.4309.

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**InstaForex Gertrude** · 21-01-16, 08:13

Daily analysis of USDX for January 21, 2016

At the H1 chart, the Index is doing a rebound above the 200 SMA and now we can expect a re-test of the resistance level around the 99.22 level. However, we're still seeing a sideways consolidation in progress above that moving average and we shouldn't discard a possible deep pullback towards the 98.39 level.

H1 chart's resistance levels: 99.22 / 99.49
H1 chart's support levels: 98.79 / 98.39

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 99.22, take profit is at 99.49, and stop loss is at 98.94.

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**InstaForex Gertrude** · 27-01-16, 07:18

Daily analysis of USDX for January 27, 2016

US Dollar Index has declined below the 200 SMA at H1 chart after a strong resistance was found around 99.49. Current price action is telling us that a support level is located at 98.97, as an inflection zone was formed during the January 19th and 20th sessions and pushed the index higher. However, this bullish scenario can invalidate if the USDX breaks the support at 98.72. MACD indicator is currently declining, as it is still moving on the negative territory.

H1 chart's resistance levels: 99.22 / 99.49
H1 chart's support levels: 98.97 / 98.72

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the USD Index breaks a bullish candlestick; the resistance level is at 99.22, take profit is at 99.49, and stop loss is at 98.95.

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**InstaForex Gertrude** · 01-02-16, 08:04

Elliott wave analysis of EUR/JPY for February 1, 2016

Wave summary:
A very strong rally on Friday which took place after BOJ's decision to adopt the negative interest rate, looked impulsive and if a breakout above important resistance at 132.44 is seen, then we will change our preferred count to above. This count shows that an expanded flat correction we have been tracking since late December 2013 terminated at 126.05 in mid-April 2015 and was followed by an impulsive wave (i) to 141.04 and the decline from 141.04 to 126.14 was a very deep wave (ii). A breakout above 132.44 will call for wave (iii) higher to at least 150.16. If, however resistance at 132.44 is able to protect the upside for renewed downside pressure, the very complex corrective corrective pattern could still be unfolding.

Trading recommendation: We will await the outcome of the test of the resistance-line before making the next move.

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**InstaForex Gertrude** · 02-02-16, 07:01

Technical analysis of EUR/USD for February 02, 2016

When the European market opens, some economic news will be released such as PPI m/m, Unemployment Rate, Italian Monthly Unemployment Rate, German Unemployment Change, Spanish Unemployment Change.The US will release the economic data too such as Total Vehicle Sales, IBD/TIPP Economic Optimism, so amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.0947.
Strong Resistance:1.0941.
Original Resistance: 1.0930.
Inner Sell Area: 1.0919.
Target Inner Area: 1.0894.
Inner Buy Area: 1.0869.
Original Support: 1.0858.
Strong Support: 1.0847.
Breakout SELL Level: 1.0841.

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**InstaForex Gertrude** · 02-02-16, 07:56

Technical analysis of USD/JPY for February 02, 2016

In Asia, Japan will release the 10-y Bond Auction, Monetary Base y/y and the US will release some economic data such as Total Vehicle Sales, IBD/TIPP Economic Optimism. So there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Resistance. 3: 121.40.
Resistance. 2: 121.16.
Resistance. 1: 120.92.
Support. 1: 120.63.
Support. 2: 120.40.
Support. 3: 120.16.

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**InstaForex Gertrude** · 03-02-16, 07:04

Technical analysis of EUR/USD for February 03, 2016

When the European market opens, economic news on the Retail Sales m/m, Italian Prelim CPI m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI is due to be released.The US will deliver the economic data on the Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0970.
Strong Resistance:1.0964.
Original Resistance: 1.0953.
Inner Sell Area: 1.0942.
Target Inner Area: 1.0917.
Inner Buy Area: 1.0892.
Original Support: 1.0881.
Strong Support: 1.0870.
Breakout SELL Level: 1.0864.

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**InstaForex Gertrude** · 05-02-16, 08:04

Elliott wave analysis of EUR/NZD for February 5, 2016

Wave summary:
Nothing is going on here besides an annoying sideways consolidation. EUR/NZD is likely to build a base for the next larger rally towards 1.7271 and higher towards 1.8020, but we are seeing all kind of false breakouts both to the upside and to the downside. On Wednesday, we saw a breakout below minor support at 1.6507 calling for a move closer to 1.6210 and there was never a real rally through and now a test of the minor resistance line near 1.6830 seems to be unfolding. However, it will take a breakout above this resistance line and more importantly a breakout above resistance at 1.6916 to confirm that the bottom is in place for a new impulsive rally towards 1.7271 and above.

Trading recommendation:
We are looking for a EUR-buying opportunity near 1.6359 or upon a break above 1.6830.

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**InstaForex Gertrude** · 08-03-16, 07:53

Daily analysis of GBP/USD for March 08, 2016

In the H1 chart, GBP/USD is forming another bullish pattern below the resistance level of 1.4267, where bulls are still trying to break higher in order to strength the bullish bias on a short- and medium-term basis. Also, the 200 SMA in this time frame is favoring the scenario and we can eventually expect a little pullback in the process.

H1 chart's resistance levels: 1.4267 / 1.4333
H1 chart's support levels: 1.4183 / 1.4069

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is seen at 1.4267, take profit is at 1.4333, and stop loss is at 1.4202.

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**InstaForex Gertrude** · 09-03-16, 06:08

Technical analysis of USD/CHF for March 08, 2016

Overview:
The USD/CHF pair was polemic as it was trading in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 1.0037 and 0.9851. In the H1 time frame, resistance and support are seen at the levels of 1.0037 (also, the double top is already set at the point of 1.0037) and 0.9851 respectively. Therefore, it is recommended to be cautious while placing orders in this area. So, we need to wait until the sideways channel is completed. The current price is seen at 0.9954, which represents the key level today. The level of 1.0037 will act as the first resistance line. Hence, if the pair fails to pass through the level of 1.0037, the market will indicate a bearish opportunity below the strong resistance level of 1.0037. Sell deals are recommended below the level of 1.0037 with the first target at 0.9895. If the trend breaks the support level of 0.9895, the pair is likely to move downwards continuing the bearish trend development to the level 0.9851. However, the price spot of 0.9851 remains a significant resistance zone. Thus, the trend will probably be rebounded again from the double bottom as long as the level of 0.9851 is not broke.

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**InstaForex Gertrude** · 29-03-16, 08:35

Daily analysis of USDX for March 29, 2016

USDX is currently doing a pullback from yesterday's highs, as the Index is still doing some corrective moves in favor of the overall bearish bias. The next target is located around the 95.44 level, where the Index can test that zone in order to strengthen the downside. However, a rebound at the current stage cannot be discarded yet.

H1 chart's resistance levels: 96.70 / 97.04
H1 chart's support levels: 96.03 / 95.44

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 96.03, take profit is at 95.44, and stop loss is at 96.60.

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**InstaForex Gertrude** · 01-07-16, 08:38

Technical analysis of USD/CHF for July 01, 2016

USD/CHF is expected to trade with a bearish bias as key resistance is at 0.9800. The pair failed to break above its horizontal resistance and overlap at 0.9800 after having tested it for at least two times yesterday. Meanwhile, both the 20-period and 50-period moving averages are heading downward. In addition, the relative strength index lacks upward momentum. In conclusion, as long as 0.9800 holds on the upside, the pair is likely to return to 0.9725, and then to 0.9690. Alternatively, only a break above 0.9800 would call for a new rise to 0.9840 and 0.9900 as targets.

Resistance levels: 0.9840, 0.9900, 0.9945
Support levels: 0.9725, 0.9725, 0.9660

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**InstaForex Gertrude** · 22-02-17, 07:58

Elliott wave analysis of EUR/NZD for February 22, 2017

Wave summary:
We still need a firm break above important resistance seen at 1.4866 to confirm that a long-term low is in place with the test of 1.4495 and a new long-term impulsive rally has begun. Short term, we need to accept a more complex wave [ii] correction unfolding to just below 1.4618 as long as important resistance at 1.4866 holds firm. Under no circumstances can a break below 1.4495 be allowed under this count.

R3: 1.4955
R2: 1.4866
R1: 1.4803
Pivot: 1.4718
S1: 1.4661
S2: 1.4610
S3: 1.4571

Trading recommendation:
We are long EUR from 1.4840 with stop placed at 1.4490. If you are not long EUR yet, then buy a break above 1.4866 and use the same stop at 1.4490.

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**InstaForex Gertrude** · 30-03-17, 08:41

Technical analysis of USD/JPY for Mar 30, 2017

In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data, such as Natural Gas Storage, Final GDP Price Index q/q, Unemployment Claims, and Final GDP q/q. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Resistance. 3: 111.94.
Resistance. 2: 111.72.
Resistance. 1: 111.50.
Support. 1: 111.24.
Support. 2: 111.02.
Support. 3: 110.80.

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**InstaForex Gertrude** · 04-04-17, 08:46

Technical analysis of EUR/USD for Apr 04, 2017

When the European market opens, some Economic Data will be released, such as Retail Sales m/m, and Spanish Unemployment Change. The US will release the Economic Data, too, such as IBD/TIPP Economic Optimism, Factory Orders m/m, and 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: 1.0720.
Strong Resistance:1.0713.
Original Resistance: 1.0703.
Inner Sell Area: 1.0693.
Target Inner Area: 1.0668.
Inner Buy Area: 1.0643.
Original Support: 1.0633.
Strong Support: 1.0623.
Breakout SELL Level: 1.0616.

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**InstaForex Gertrude** · 20-04-17, 08:11

USD/CAD Fundamental Analysis April 20, 2017

USD/CAD is currently going through a good amount of volatility in the market. There had been bearish impulsive movement with a great pressure which was recently taken out by bullish impulsive moves. We have observed price exhaustions for several times in this pair and currently sentimental confusion going on in USD/CAD. Yesterday CAD Gov. Council Member Wilkins spoke about the key interest rates and monetary policy which did not provide any positive outcome for the currency, as a result USD gained a good amount of strength closing above 1.3450 yesterday. On the USD side, today market is expected to be quite volatile as important economic events like Philly Fed Manufacturing Index is going to be published which is expected to be at 25.6 which previously was at 32.8 and along with it Unemployment Claims report is going to be published which is expected to show an increase to 241K which previously was at 234K. If USD news comes positive today, we might see the pair climbing up much higher in the coming days.

Now let us look at the technical view, the price has again managed to enter the channel area with a daily close above 1.3450. As of the bullish impulsive pressure and taking out the prior swing on the upside, it is expected that the price will move towards 1.3535-50 resistance area and if the resistance area is taken out with a daily close then we will be looking forward to further upside movement towards 1.40.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 15-08-17, 07:05

AUD/JPY reversing nicely below our selling area, remain bearish

The price dropped really nicely from our selling area yesterday. We remain bearish looking to sell below strong resistance at 86.57 (Fibonacci retracement, Fibonacci extension) for a corrective drop towards 85.42 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance at 91% and also intermediate resistance at 64%.

Correlation analysis: We're seeing JPY strength with drops on AUD/JPY, EUR/JPY, and USD/JPY.

Sell below 86.57. Stop loss is at 85.42. Take profit is at 87.17.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 16-10-17, 06:51

Technical analysis of EUR/USD for Oct 16, 2017

When the European market opens, some Economic Data will be released, such as Trade Balance and German WPI m/m. The US will release the Economic Data, too, such as Federal Budget Balance and Empire State 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: 1.1870.
Strong Resistance:1.1863.
Original Resistance: 1.1852.
Inner Sell Area: 1.1841.
Target Inner Area: 1.1813.
Inner Buy Area: 1.1785.
Original Support: 1.1774.
Strong Support: 1.1763.
Breakout SELL Level: 1.1756.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 11-04-19, 07:15

XAU/USD approaching resistance, potential drop!

XAUUSD is approaching our first resistance at 1307.84 (61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 1297.82 (38.2% Fibonacci retracement , 100% Fibonacci extension ). Stochastic (89,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

Analysis are provided by InstaForex