Instaforex Analysis

**InstaForex Gertrude** · 03-04-14, 09:57

Technical analysis of Silver for April 03, 2014

Technical outlook and chart setups:
1. Silver finally shows concrete signs of having bottomed out around $19.50 now. Yesterday the metal rallied past the $20.00 levels comfortable. It is expected to continue the rally in coming sessions. The chart view here shows a concrete bullish reversal signal. Recommendations are to remain long for now, risk remains at $19.25.
2. Resistance is at $21.70 (bulls would like to take this out now), followed by $22.30 and $23.00, while support is seen at $19.00, followed by $18.75 and lower respectively.
3.The structure remains constructive for bulls till prices remain above $19.00. $20.20/30 is immediate price target before a pullback.
Trading recommendations:
Remain long for now, set stop at $19.00, target is open.

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**InstaForex Gertrude** · 04-04-14, 12:01

Technical analysis of GBP/USD for April 4, 2014

Overview:
It should be noted that the first key level will set at the level of 1.6585 and the second key level will set at the 1.6650 level on April 4, 2014. Also, it should be noticed that the levels are coinciding with the weekly pivot point and the double top respectively. Equally important, the price of GBP/USD pair has still been moving between 1.6570 and 1.6613. Furthermore, the trend has been very clear indicating downward direction. As it is known, sellers are asking for a high price. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.6650 in H1 chart. As a result, sell at the price of 1.6650 with the first target of 1.6585 in order to test the weekly pivot point and it might resume to 1.6520. On the other hand, your stop loss should be placed above the 1.6650, hence it will helpful to set it at the price of 1.6683. Additionally, it should be noted that the range was about 91 pips yesterday.

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**InstaForex Gertrude** · 08-04-14, 10:05

Technical analysis of USD/CHF for April 08, 2014

The pair is in an uptrend at 0.87 levels. The pair made a high at 0.8952 on Friday. Currently, the pair is trading at 0.8876 in an Aisa's trading session. The pair is facing a strong resistance at 0.88788 (50SMA); above this, 0.8928 is a strong resistance level. Below 50SMA, 0.8866 and 0.8853 are the small support levels. Until the pair trades below the 50SMA, it looks weak. RSI is giving a buying signal. The pair is looking for a strong base to change its direction upwards. After a day close above the 0.8878 level, fresh up move will be intact for 0.8928 first and 0.8952. We will see new high (0.90) when the pair closes above the 0.8928 level. On the down side, the levels of 0.8815, 0.8787, and 0.8699 are the support levels.

In the H4 chart, the pair is making a lower low and higher highs formation. Currently, it is looking for support levels. RSI is not favoring longs. The support levels exist at 0.8871 and 0.8859. In case of a break below these levels, it will fall to 0.884, 0.8820, and 0.8785 levels. On the upside, if the pair holds the 0.8871 and 0.8859 levels intradaily, it will fly up to 0.8889 and 0.8930 levels.

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**InstaForex Gertrude** · 09-04-14, 10:01

Technical analysis of EUR/USD for April 09, 2014

The pair is in a downtrend from 1.3967 levels. In the H4 chart, the pair came out from the 10-day trading pattern. The pair is doing what the cable is doing. The pair is facing resistance at 1.3810, above that, at 1.3820. The momentum indicators are favoring sell side. For 2 or 3 days perspective, sell on rallies is the best strategy. On the up side, if the pair crosses the 1.3820 levels, it will fly up to 1.3876 levels.

The positional trend will change once the pair closes above the 1.396 levels. On the down side, the pair has strong support at 1.3770, below this, 1.3755 is the strong support. Weakness will persist in this pair when the pair breaks and closes below the 1.3755 level. If it happens, the pair will drift all the way to 1.3673 and 1.3643 levels easily. If the pair closes below 1.3737 (yesterday's low), weakness starts in this pair.

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**InstaForex Gertrude** · 10-04-14, 10:31

Technical analysis of USD/JPY for April 10, 2014

In Asia, Japan will release the Core Machinery Orders m/m, Bank Lending y/y, Prelim Machine Tool Orders y/y and the US will release some economic data such as Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction, Federal Budget Balance. So there is a big probability the USD/JPY will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.46.
Resistance. 2: 102.26.
Resistance. 1: 102.06.
Support. 1: 101.81.
Support. 2: 101.61.
Support. 3: 101.41.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.41) and resistance 3 (102.46). 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** · 11-04-14, 11:24

Technical analysis of USD/JPY for April 11, 2014

In Asia, Japan will release the Monetary Policy Meeting Minutes, CGPI y/y, M2 Money Stock y/y, 30-y Bond Auction; the US will release some economic data such as PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian and US sessions.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.10.
Resistance. 2: 101.90.
Resistance. 1: 101.70.
Support. 1: 101.45.
Support. 2: 101.25.
Support. 3: 101.05.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.05) and resistance 3 (102.10). 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** · 14-04-14, 10:52

Technical analysis of USD/JPY for April 14, 2014

In Asia, Japan will not release any economic data and the US will release some economic data such as Core Retail Sales m/m, Retail Sales m/m, Business Inventories m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.02.
Resistance. 2: 101.82.
Resistance. 1: 101.62.
Support. 1: 101.38.
Support. 2: 101.19.
Support. 3: 100.98.

DESCRIPTION:
Please, pay attention to the levels of support 3 (100.98) and resistance 3 (102.02). 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** · 15-04-14, 10:00

Technical analysis of USD for April 15, 2014

USD
The US Dollar Index fell during the course of last week, but remained above the 79 level. The 79 level is of course is supportive, and we believe it is a major inflection point. We feel that this market will go to the 84 level, given enough time in order to see the bulls continuing to take control of a market that they've had a strong presence in. On top of that, you can also make an argument for consolidation between this area and the 81.25 level, as we have seen it in the last six months proved to be relatively tight. With that, we most certainly have an upward bias at this point, but recognize that a breakdown below the 79 level would in fact be very significant. On that move, we would expect this market to drop all the way down to the 77.83 and 75 levels, but it would take some time. The level of 78.60 would of course offer support as well, but it is much more of a minor area than the 79 is, as we continue to see the market bounce from its handle. If we break above the 81.25 level, we can see a new high this year.

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**InstaForex Gertrude** · 17-04-14, 09:01

Technical analysis of USD/JPY for April 17, 2014

In Asia, Japan is going to report on the Consumer Confidence, and the BOJ Gov Kuroda Speech. The US will release some economic data such as Unemployment Claims, Philly Fed Manufacturing Index, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.58.
Resistance. 2: 102.38.
Resistance. 1: 102.18.
Support. 1: 101.94.
Support. 2: 101.73.
Support. 3: 101.53.

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**InstaForex Gertrude** · 21-04-14, 10:57

Technical analysis of USD/JPY for April 21, 2014

In Asia, Japan will release the Trade Balance and the US will release some economic data such as CB Leading Index m/m. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.16.
Resistance. 2: 102.96.
Resistance. 1: 102.76.
Support. 1: 102.51.
Support. 2: 102.31.
Support. 3: 102.11.

DESCRIPTION:
Please, pay attention to the levels of support 3 (102.11) and resistance 3 (103.16). 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** · 22-04-14, 10:03

Technical analysis of USD/JPY for April 22, 2014

In Asia, Japan will not release any economic data, and the US will release some economic data such as HPI m/m, Existing Home Sales, Richmond Manufacturing Index. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with high volatility during the US session.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.17.
Resistance. 2: 102.97.
Resistance. 1: 102.77.
Support. 1: 102.52.
Support. 2: 102.32.
Support. 3: 102.12.

DESCRIPTION:
Please, pay attention to the levels of support 3 (102.12) and resistance 3 (103.17). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it is a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 23-04-14, 09:46

Technical analysis of GBP/CHF for April 23, 2014

Technical outlook and chart setups:
1. The GBP/CHF pair seems to be in its last leg of rally that begun from sub 1.4450 levels. Implications are that the pair may reverse/retrace from current levels (1.4900/1.4880) or from 1.4960. As seen here, the 1.4600/50 levels remain of particular interest to initiate long positions again.
2. Support starts from 1.4630/40 (intermediary), followed by 1.4450/1.4350, 1.4200 and lower while resistance is at 1.4950/60, followed by 1.5120 respectively.
3. The structure indicates that GBP/CHF would remain a buy on dips till prices stay above 1.4450/1.4500 levels.

Trading recommendations:
Look to buy lower around 1.4600 on a pullback and bullish bounce.

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**InstaForex Gertrude** · 24-04-14, 10:05

Technical analysis of USD/JPY for April 24, 2014

In Asia, Japan will release the CSPI y/y and the US will release some economic data such as Core Durable Goods Orders m/m, Unemployment Claims, Natural Gas Storage, Durable Goods Orders m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.99.
Resistance. 2: 102.79.
Resistance. 1: 102.59.
Support. 1: 102.34.
Support. 2: 102.13.
Support. 3: 101.93.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.93) and resistance 3 (102.99). 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** · 28-04-14, 10:34

Technical analysis of GBP/CHF for April 28, 2014

Technical outlook and chart setups:
1. The GBP/CHF pair is trading close to the 1.4800 levels for now.The minimum level of interest to initiate fresh long positions is around 1.4730/50, which is the 0.382 fibonacci retracement of the entire rally from 1.4450 to 1.4900. Recommendations are to remain flat for now and watch for lower levels.
2. Support is at 1.4630, followed by 1.4525, 1.4450, 1.4350 and lower while resistance is at 1.4950 and 1.5120 respectively.
3. The structure indicates that GBP/CHF retracement/pullback could continue till 1.4750 levels. Bulls may regain control from there on to push higher towards 1.4950 levels. On the flip side, a break of 1.4630 would indicate further bearishness.

Trading recommendations:
Remain flat for now.

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**InstaForex Gertrude** · 29-04-14, 09:37

Technical analysis of Silver for April 29, 2014

Technical outlook and chart setups:
1. Silver is trading around $19.50/60 levels for now having formed lows at $18.90 last week. It needs to break $20.40 levels though before it can be confirmed that the metal has turned bullish. Recommendations are to remain flat for now.
2. Support is at $18.90, followed by $18.75, and $18.00 while resistance is at $20.40, $21.70, $22.30, and higher respectively.
3. The structure indicates that Silver remains cautiously bullish for now. A break of $20.40 would confirm the reversal.

Trading recommendations:
Remain flat for now.

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**InstaForex Gertrude** · 05-05-14, 10:13

Technical analysis of EUR/JPY for May 05, 2014

Technical outlook and chart setups:
1. The EUR/JPY pair is bouncing off the channel support and resistance at the moment, broadly between 141.40/50 to 142.50/60 for now. The pair is again at the support near 141.50 levels. A break here would be encouraging for bears and a subsequent break below 140.00 would confirm bearish resumption. Recommendations are to sell on the break of channel support.
2. Support is at 141.00, followed by 140.00, 138.50, 136.00 and lower while resistance is at 142.50, followed by 143.50/144.00 and 145.50 on the higher side.
3. The structure indicates that EUR/JPY bears would want to break 141.00 levels for now. On the flip side, a bullish bounce here again, would enable prices to re-test 142.50.

Trade recommendations:
Remain flat for now. Sell on a break of the channel line support.

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**InstaForex Gertrude** · 06-05-14, 10:14

Technical analysis of EUR/USD for May 06, 2014

EUR/USD
The pair has been in an uptrend from 1.3774 levels. It is facing strong resistance at every higher level. Currently the pair is facing strong resistance at 1.3906 levels. It is the key level for bulls and bears. Until the pair breaks the 1.3906 levels, the pair will move to 1.36. Last week's low at 1.3774 is the very crucial for further up move. Until the pair holds 1.3774, there is a remote chance for 1.3950 and 1.40 levels. The weakness persists only below 1.3774.

In Asia's trading session, the pair is trading at 1.3876 levels. On the higher side, if the pair crosses 1.3880, it will fly up to 1.3906, 1.3920 and 1.3950 levels. On the higher levels, selling is the best option. On the down side, intraday weakness exists below 1.3864. It will fall to the immediate major support at 1.3850 levels. The major weakness is on the cards below this, fall to 1.3812 and 1.3774 levels. We expect the selling pressure will intensify in coming sessions.

Recommendations-

1. Sell below 1.3864 with targets 1.3850, 1.38 and 1.3774.

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**InstaForex Gertrude** · 07-05-14, 10:07

Technical analysis of gold for May 07, 2014

Today the metal traders eye Yellen's appearance before the Joint Economic Committee. She'll also speak before the Senate Budget Committee on Thursday. The market participants talk about when the Fed will start lifting interest rates, and how high the rates will go once it starts happening.

Technical view-
The metal is trading in a range bound between $1,316-$1,305 levels. It is facing strong resistance at $1,316 (50daily SMA). Safe traders can buy above $1,316 for targets $1,319, $1,322 and $1,330. On the down side the key level is located at $1,305, below this only the metal looks bearish up to $1,300, $1,295. On the weekly chart, the metal is facing strong resistance at the 38.2 fib level. Once the metal breaks this, huge buying will add to the metal aiming at $1,330.

For intraday the metal has strong support at $1,302 levels, a break below this $1,297.50 is a strong support level. The hourly momentum indicators show a mixed bag. RSI is giving a sell signal and Stochastics is giving an up move indication. On the upside, the metal will face resistance at $1,313.70 and $1,316 levels.

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**InstaForex Gertrude** · 08-05-14, 10:32

Technical analysis of Silver for May 08, 2014

Technical outlook and chart setups: 1. Silver has retraced as expected from sub $20.00 levels yesterday. The metal is bouncing off the backside of resistance turned support line as seen here around $19.20/25 levels. Furthermore, the fibonacci 0.618 support is passing around the same levels. Recommendations are to initiate long positions now, risk remains below $18.50 levels.
2. Support is at $18.90, followed by $18.75 and lower while resistance is at $19.90/20.00 levels, followed by $20.40, $21.70 and $22.30 respectively.
3. The structure indicates that Silver could stage an impressive rally from current levels till prices stay above $18.80/90 levels.

Trading recommendations:
Initiate long positions now, stop at $18.40, target is open.

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**InstaForex Gertrude** · 09-05-14, 10:17

Technical analysis of USD/JPY for May 9, 2014

In Asia, Japan will release the Leading Indicators and the US will release some economic data such as JOLTS Job Openings, Wholesale Inventories m/m. So there is a big probability the USD/JPY will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.20.
Resistance. 2: 102.00.
Resistance. 1: 101.80.
Support. 1: 101.56.
Support. 2: 101.36.
Support. 3: 101.16.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.16) and resistance 3 (102.20). 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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