Instaforex Analysis

**InstaForex Gertrude** · 01-09-16, 08:50

Daily analysis of USDX for September 01, 2016

USDX is still capped by the resistance level of 96.14, where the sellers are actively trying to push the index lower towards the 95.79 level. A bullish attempt to break that resistance zone should open the doors to reach the 96.49 level, where the index may start performing a complex correction in the nearest term. MACD indicator supports the idea of corrective phase.

H1 chart's resistance levels: 96.14 / 96.49
H1 chart's support levels: 95.79 / 95.49

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 96.14, take profit is at 96.49 and stop loss is at 95.79.

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**InstaForex Gertrude** · 02-09-16, 09:23

TECHNICAL ANALYSIS OF USD/JPY FOR SEPT 02, 2016

In Asia, Japan will release the Consumer Confidence and Monetary Base y/y. The US will release a series of economic data such as Factory Orders m/m, Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So there is a probability the USD/JPY pair will move with medium to high volatility during this day.

TODAY'S TECHNICAL LEVELS:
Resistance. 3: 103.72.
Resistance. 2: 103.51.
Resistance. 1: 103.31.
Support. 1: 103.06.
Support. 2: 102.86.
Support. 3: 102.66.

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.

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**InstaForex Gertrude** · 05-09-16, 09:25

Daily analysis of GBP/USD for September 05, 2016

GBP/USD is still performing a higher consolidation above the 200 SMA on H1 chart, following the less-than-expected NFP figure in the United States last Friday. Currently, we should expect a test of the resistance zone of 1.3360, where a breakout should open the doors to rally towards the 1.3480 level. MACD indicator remains on negative territory and possibly is calling for a correction in coming days.

H1 chart's resistance levels: 1.3360 / 1.3458
H1 chart's support levels: 1.3358 / 1.3270

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 at 1.3360, take profit is at 1.3458 and stop loss is at 1.3241.

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**InstaForex Gertrude** · 06-09-16, 09:45

Daily analysis of GBP/USD for September 06, 2016

The pair found resistance at the 1.3360 level and now will look to break higher in order to rally towards the 1.3480 price zone. Currently, bulls are struggling to make new highs, but the corrective phase could extend to the support level of 1.3258, where a breakout should open the doors to test the 1.3170 level, which is slightly below the 200 SMA on H1 chart.

H1 chart's resistance levels: 1.3360 / 1.3458
H1 chart's support levels: 1.3358 / 1.3270

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3360, take profit is at 1.3458 and stop loss is at 1.3241.

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**InstaForex Gertrude** · 08-09-16, 08:47

Daily analysis of USDX for September 08, 2016

The index is recovering from the losses posted during Tuesday's session, and now we should expect a rise towards the 200 SMA at H1 timeframe. However, keep in mind that the bears are still strong across the board, and the greenback's weakness is likely to continue until the next Fed's meeting at least. If the USDX manages to break the 94.78 level, then the next target will be found at 94.29.

H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 94.78 / 94.29

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 94.78, take profit is at 94.29 and stop loss is at 95.27.

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**InstaForex Gertrude** · 13-09-16, 09:44

EUR/USD Technical Analysis for September 13, 2016

Technical outlook and chart setups:
The EUR/USD pair rallied through 1.1325 level last week before reversing sharply lower towards 1.1240 level as depicted on the hourly chart. The pair is trading at 1.1230 level at this moment after printing interim highs at 1.1268 level, looking to turn lower again. The wave structure indicates that the pair has dropped lower in 5 waves earlier from 1.1325 through 1.1200 levels. Furthermore, the rally from 1.1200 through 1.1268 levels has unfolded in 3 waves (a-b-c), which is corrective. A bearish reversal from the current levels remains highly probable, with minimum downside potential towards 1.1150 level going forward. It is hence recommended to remain short from current levels, with risk above 1.1350 levels. Immediate resistance is seen at 1.1325 level, while support is at 1.1190 level respectively.

Trading recommendations:
Remain short now, stop is above 1.1350 level, a target is at 1.1150 at least.

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**InstaForex Gertrude** · 14-09-16, 09:04

Daily analysis of USDX for September 14, 2016

The index is rallying above the 200 SMA on the H1 chart and the focus is placed at the 95.79 level, which is the last hurdle standing before the 96.00 psychological zone. With that being said, we're seeing that the USDX is trapped inside a sideways range, but a breakout above the 96.23 level should invalidate that pattern.

H1 chart's resistance levels: 95.79 / 96.23
H1 chart's support levels: 95.49 / 95.02

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 95.49, take profit is at 95.02 and stop loss is at 95.97.

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**InstaForex Gertrude** · 15-09-16, 09:14

Daily analysis of USDX for September 15, 2016

USDX found strong sellers' reaction around at the 95.65 price level, and we're watching now that it struggles to consolidate below the 200 SMA on the H1 chart. If the index manages to do it, then we can expect a breakout below the 95.02 level in order to test the 94.74 zone. MACD indicator is supporting the bearish scenario.

H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.02 / 94.74

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 95.02, take profit is at 94.74 and stop loss is at 95.29.

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

Daily analysis of USDX for September 16, 2016

The index found resistance at the 95.49 level, following the mixed data published in the US. Currently, the USDX is hovering around the 200 SMA area on H1 chart and we could expect a decline towards the support level of 95.02. If a breakout happens there in coming hours, then the next support at the 95.02 level could be tested.

H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.02 / 94.74

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 95.02, take profit is at 94.74 and stop loss is at 95.29.

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**InstaForex Gertrude** · 19-09-16, 09:34

Daily analysis of GBP/USD for September 19, 2016

USDX had a strong rally last Friday and now we're seeing a consolidation above the 200 SMA on H1 chart. Currently, the index is facing the resistance zone of 96.14, which is the last hurdle before to reach the 96.50 level on a short-term basis. We should note that the USDX already did a rebound above the dynamic support offered by the 200-hour moving average and gave it a fresh momentum to the upside.

H1 chart's resistance levels: 96.14 / 96.51
H1 chart's support levels: 95.79 / 95.49

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 96.14, take profit is at 96.51 and stop loss is at 95.76.

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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** · 28-09-16, 09:22

Daily analysis of USDX for September 28, 2016

The index failed to consolidate above the 200 SMA at H1 chart during Tuesday's session, the day of the US presidential debate. Currently, it's expected that the USDX index can resume the bearish bias to reach the psychological level of 95.00. However, if we see a breakout above the resistance level of 95.79, then further gains are expected. MACD indicator is showing overbought conditions.

H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.01 / 94.61

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 95.49, take profit is at 95.79 and stop loss is at 95.19.

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**InstaForex Gertrude** · 29-09-16, 09:23

Technical analysis of USDX for September 29, 2016

There is nothing new in the Dollar index as the price remains trapped inside the medium-term trend triangle pattern and inside the short-term trading range. Traders should better be cautious and patient and focus on 96.50 and 94.60 levels.

Green lines - trading range
Blue line - important support trend line
Red line - important resistance trend line

The Dollar index is trading below the Ichimoku cloud but still inside the trading range. The price is still inside the triangle pattern depicted by the red and blue trend lines. Short-term support is at 95.25 while resistance lies at 95.70. A breakout of this short-term trading range may push the index towards the triangle boundaries.

Green line -support
The price continues to trade sideways above the green trend line support and below the Ichimoku cloud. There is no clear trend as we trade sideways. Traders need to be patient and wait untill the market provides a breakout.

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**InstaForex Gertrude** · 04-10-16, 10:05

Technical analysis of USDX for October 4, 2016

The Dollar index has broken short-term resistance levels and is testing horizontal resistance where a previous double top rejection occurred. Short-term trend is bullish with increased chances of making medium-term trend bullish again as we are heading towards 96.50 resistance.

Red line - resistance Black line - horizontal resistance Blue line -support The Dollar index is above the 4-hour Ichimoku cloud and is breaking above and out of the triangle pattern. Next resistance is at the previous highs at 96.50. A clear break above that level will open the way for a push towards 97.50. Support is found at 95.70. The next one is at 95.

Green line - important medium-term support
The Dollar index is holding above the green trend line support and is now testing the Ichimoku cloud resistance at 96.50. A break above it will be a bullish sign. Bulls will need to defend the green trend line support no matter what. Otherwise a huge wave of sellers will come. A break out above the weekly cloud will open the way for new highs.

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**InstaForex Gertrude** · 05-10-16, 09:45

Technical Analysis of Silver for October 05, 2016

Technical outlook and chart setups:
Silver has broken below the consolidation structure around $18.60 levels and is still expected to continue decline to $16.00 level at least. The wave structure also indicates that the metal is in its C wave correction within the 3 wave A-B-C drop that began from $21.10 levels earlier. Please note that the metal may produce intraday rallies towards $18.20/30 levels which should be considered as opportunities to sell again. The metal looks to be in its 3rd wave within 5 waves into the C wave as depicted here, hence expect lower levels. It is recommended to remain short for now and look to add further at higher levels. Immediate resistance is seen at $20.10 levels, while support lies at $17.00 levels.

Trading recommendations:
Remain short for now, stop above $20.05, target is open.

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**InstaForex Gertrude** · 06-10-16, 09:36

Technical analysis of gold for October 6, 2016

Gold price remains in a short-term bearish trend approaching the first important medium-term support levels of $1,250 where I

Red line - resistance trend line
Blue lines - bearish channel

Gold price is inside a downward sloping bearish channel. With short-term oscillators starting to give some bullish divergence signals, we are soon to expect a bounce most probably towards the red trend line resistance which was once support. Only above $1,330-50 we will have a medium-term trend reversal signal.

Gold price is correcting the entire rise from $1,045 and this is most probably the first part of the decline expected to reach $1,250. A bounce towards $1,300-$1,330 will then be expected. The final and third part of the correction could push price towards $1,170. This is a rough roadmap on what we could expect.

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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** · 10-10-16, 09:39

Daily analysis of GBP/USD for October 10, 2016

GBP/USD plummeted to a new multi-year low below the 1.2000 handle during early Friday's session, but it managed to recover some ground following that flash crash. Currently, the pair is being supported by the 1.2388 level and weakness is still alive. A breakout below that zone should help to extend the decline towards the 1.2312 level.

H1 chart's resistance levels: 1.2468 / 1.2552
H1 chart's support levels: 1.2388 / 1.2312

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 1.2388, take profit is at 1.2312 and stop loss is at 1.2464.

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**InstaForex Gertrude** · 11-10-16, 09:36

Technical analysis of Gold for October 11, 2016

Gold price continues to trade inside the downward sloping channel despite the bounce from $1,241 to $1,266. The current price formation implies that this is just a pause in the downward trend and a new low towards $1,215 should follow. However, this will change only if we see a break above $1,266.

Dark blue lines - bearish channel
Price is below the Ichimoku cloud and inside the bearish channel. Price drop has stopped just above the 78.6% Fibonacci retracement of the rise from $1,200 to $1,375. Short-term support is at $1,255 while resistance is at $1,266.

On a weekly basis price has stopped the decline at the 38% Fibonacci retracement of the entire rise from $1,045. A bounce should come from these levels but if we break to new lows, price will be in danger of reaching $1,214 and the weekly Ichimoku cloud support and also 50% Fibonacci retracement. My longer-term view remains bullish. This downward move could bring price even towards $1,170 but this will be a gift for bulls.

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**InstaForex Gertrude** · 12-10-16, 09:34

Technical analysis of USDX for October 12, 2016

The Dollar index has broken above critical trend line resistance. Price is in a bullish trend and looks ready to challenge the previous highs. 98.60 is the next important hurdle to surpass in order to continue higher. Short-term view justifies a pullback.

Dark blue lines - bullish channel
Blue line - critical long-term support

The Dollar index is testing the upper channel boundary. With oscillators overbought, I expect price to get rejected at current levels and pull back at least towards the lower channel boundary at 97. Price is above the Ichimoku cloud and this confirms the bullish trend.

Red line - resistance
Green line - long-term support

Price has broken above both the weekly Ichimoku cloud and the downward sloping red trend line resistance. Next resistance is found at 98.60 where the 78.6% Fibonacci retracement of the decline from 100.50 to 91.90. Only a reversal and a new low below this week's lows will be a bearish reversal signal. All other pullbacks are considered to be buy opportunities.

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