Instaforex Analysis

**InstaForex Gertrude** · 06-06-16, 10:25

Elliott wave analysis of EUR/NZD for June 6 - 2016

Wave summary:
We continue to look for a corrective low for red wave ii. Our preferred count remains that an important low was seen at 1.6062 and a new larger impulsive rally is building. However, the rally of the 1.6062 waves has been overlapping, and the only impulsive wave that allows for overlapping waves is the leading diagonal. The decline in red wave ii from 1.6931 is also slow, and overlapping adds confidence in this being a corrective wave, so once the bottom is in place near 1.6200, a new impulsive rally is expected. To confirm this new impulsive rally, a break above minor resistance at 1.6510 is needed.

Trading recommendation:
We bought EUR at 1.6225 and will place our stop at 1.6100 for now.

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**InstaForex Gertrude** · 07-06-16, 10:15

Technical analysis of USDX for June 7, 2016

The Dollar index is trading around the 50% Fibonacci retracement after its sharp decline from last week's disappointing NFP numbers. The short-term trend is bearish, however, a move lower could put the larger trend in danger.

The trend is bearish as long as the price is below the Ichimoku cloud. The stochastic and RSI are diverging on the 4-hour chart so we could soon see a bounce in the Dollar index. The next important support is the 61.8% Fibonacci retracement. Short-term resistance is at 94.30.

The weekly candle is testing the weekly tenkan-sen (red line indicator) and the lower Kumo (cloud) boundary support. A break above the kijun-sen (yellow line indicator) will open the way for a push higher towards 98 at least. A weekly close below and out of the Kumo will be a bearish sign.

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**InstaForex Gertrude** · 08-06-16, 10:25

Elliott wave analysis of EUR/NZD for June 8 - 2016

Wave summary:
We have seen the expected decline closer to the ideal downside target at 1.6169, from where a new impulsive rally is expected. In the short term, a break above minor resistance at 1.6351 and, more importantly, a break above resistance at 1.6470 will confirm that a low is in place for a rally higher to 1.6931 and 1.7220.

Trading recommendation:
We are long in EUR from 1.6225 and will move our stop higher to 1.6125. If you are not long in EUR yet, then buy near 1.6169 and use the same stop at 1.6125.

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**InstaForex Gertrude** · 09-06-16, 09:13

EUR/AUD trading recommendations for 9th June 2016

EUR/AUD has formed a bullish divergence vs RSI since our analysis yesterday, and this gives us a good conviction of it making a strong bounce from here to the divergence potential of 1.5330, which is also a fibonacci retracement level.

Trading recommendation:
Entry now
Take profit at 1.5330 and 1.5300
Stop loss at 1.5175

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**InstaForex Gertrude** · 13-06-16, 09:36

Daily analysis of USDX for June 13, 2016

Index is trying to extend the recovering rallies above the 200 SMA on the H1 chart, as we're seeing a price action that favors to erase losses held from June 3rd's decline. Next resistance can be found at the 94

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**InstaForex Gertrude** · 15-06-16, 09:42

Daily analysis of GBP/USD for June 15, 2016

GBP/USD continues to show weakness in the short-term picture, as it has been doing declines toward the 1.4100 psychological level, where it found support. A breakout below that zone will expose the 1.4041 level, which should activate the "oversold" alert on the oscillators, such as the RSI and MACD, and eventually, the pair can rebound.

H1 chart's resistance levels: 1.4171 / 1.4247
H1 chart's support levels: 1.4100 / 1.4041

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 1.4100, take profit is at 1.4041 and stop loss is at 1.4160.

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

Techncial analysis of EUR/JPY for June 16, 2016

General overview for 16/06/2016:
After another marginal lower low, the count has been changed and an alternative count has been added in order to incorporate the recent wave developments. The main count indicates a double zig-zag pattern in progress, the alternative count indicates a five-wave impulsive structure that is about to terminate. Currently, the market is trading at the level indicated in one of the earlier analyses last week, in particular I mean the weekly support zone between the levels of 117.20 - 118.50, so a possible reversal might happen any time now.

Support/Resistance:
117.20 - WS3
118.15 - WS2
118.49 - Intraday Resistance
119.23 - WS1
120.31 - Intraday Resistance
120.95 - Weekly Pivot
122.02 - WR1 123.74 - WR2

Trading recommendations:
All swing traders should get ready to close their long-term sell orders as the market is approaching a possible reversal zone. Day traders and swing traders might consider opening buy orders from the current levels with tight SL and TP open for now.

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**InstaForex Gertrude** · 20-06-16, 09:45

Daily analysis of USDX for June 20, 2016

On the H1 chart, USDX pulled back from last week's highs, and now it's poised to test the support zone of the 94.07 level. However, the current outlook is telling us that a possible demand zone would remain active at this stage, and it can push the Index higher towards the 94.68 level, which is above the 200 SMA. The MACD indicator is in negative territory.

H1 chart's resistance levels: 94.30 / 94.68
H1 chart's support levels: 94.07 / 93.82
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 94.30, take profit is at 94.68, and stop loss is at 94.16.

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**InstaForex Gertrude** · 21-06-16, 10:24

Technical analysis of USD/JPY for June 21, 2016

In Asia, Japan will release the all Industries Activity index m/m and Monetary Policy Meeting Minutes. The US will not release any economic data but only Fed Chair Yellen Testifies. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Resistance. 3: 104.51.
Resistance. 2: 104.31.
Resistance. 1: 104.10.
Support. 1: 103.85.
Support. 2: 103.65.
Support. 3: 103.44.

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** · 22-06-16, 10:10

Elliott wave analysis of EUR/NZD for June 22 - 2016

Wave summary:
We continue to look for a test of support at 1.5604 before a relief rally back to 1.5955 and maybe slightly higher, but from here the next decline towards 1.4702 will be expected, with the ideal target for wave C seen at 1.4471.
In the short term, a break below minor support at 1.5709 should trigger a decline to 1.5604.

Trading recommendation:
Stay short and move stop lower to 1.5960; upon a break below 1.5709 move the stop lower to 1.5815. Place take profit at 1.5625. Wait to sell EUR again near 1.5955.

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**InstaForex Gertrude** · 23-06-16, 10:16

Technical analysis of EUR/USD for June 23, 2016

When the European market opens, some economic news will be released such as the Belgian NBB Business Climate, Long Term Refinancing Option, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will release economic data too such as the Natural Gas Storage, CB Leading Index m/m, New Home Sales, Flash Manufacturing PMI, and Unemployment Claims. So amid the reports, EUR/USD will move with medium to high volatility during the Brexit Vote today.

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1382.
Strong Resistance: 1.1375.
Original Resistance: 1.1364.
Inner Sell Area: 1.1353.
Target Inner Area: 1.1326.
Inner Buy Area: 1.1299.
Original Support: 1.1288.
Strong Support: 1.1277.
Breakout SELL Level: 1.1270.

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**InstaForex Gertrude** · 24-06-16, 09:51

Technical analysis of EUR/USD for June 24, 2016

When the European market opens, some economic news will be released such as Italian Retail Sales m/m and German Ifo Business Climate. The US will release economic data too such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Durable Goods Orders m/m, and Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move with medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1316.
Strong Resistance: 1.1295.
Original Resistance: 1.1262.
Inner Sell Area: 1.1229.
Target Inner Area: 1.1148.
Inner Buy Area: 1.1067.
Original Support: 1.1034.
Strong Support: 1.1001.
Breakout SELL Level: 1.0980.

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** · 27-06-16, 09:28

Daily analysis of USDX for June 27, 2016

The H1 chart structure is showing a bullish pattern in formation above the support level of 95.20, after a reaction higher by the Brexit referendum's results. This put the Index into a very strong bullish scenario above the 200 SMA, and a possible breakout above the 95.89 level will open the doors to test the 96.60 level. The MACD indicator remains in negative territory, favoring a deeper correction towards the 94.71 level.

H1 chart's resistance levels: 95.89 / 96.60
H1 chart's support levels: 95.20 / 94.71

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 95.89, take profit is at 96.60, and stop loss is at 95.18.

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**InstaForex Gertrude** · 29-06-16, 09:51

Elliott wave analysis of EUR/NZD for June 29 - 2016

Wave summary:
We continue to look for a little more correction closer to 1.5895 and maybe even closer to 1.6005 before the next impulsive decline takes over for a drop to 1.4490. Only a direct break below minor support at 1.5484 will indicate that the correction in wave 2 has completed prematurely and wave 3 lower is already unfolding.

Trading recommendation:
We have placed a sell order at 1.5890 with stop at 1.6035.

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**InstaForex Gertrude** · 30-06-16, 09:25

Daily analysis of GBP/USD for June 30, 2016

The Cable has been doing consolidation moves during the week, and now we can see a breakout above the 1.3380 level, which should expose the resistance zone of 1.3653, where a pullback can happen to resume the bearish bias. However, the pair aims to reach the 200 SMA on the H1 chart, because the price action is being favored to fill the bearish gap left at the start of the week.

H1 chart's resistance levels: 1.3653 / 1.3770
H1 chart's support levels: 1.3380 / 1.3148

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 1.3380, take profit is at 1.3148 and stop loss is at 1.3612.

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**InstaForex Gertrude** · 04-07-16, 10:20

NZD/USD Trading Recommendations 4th July 2016

Trading recommendations :
Sell at 0.7140
Stop loss at 0.7210
Take profit at 0.7020

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**InstaForex Gertrude** · 05-07-16, 10:21

Daily analysis of USDX for July 05, 2016

Yesterday was the US Independence holiday, but USDX struggled to break above the resistance level of 95.89. Currently, the index is being supported by the 200 SMA on H1 chart, where a bullish momentum is expected to take place in coming hours. If it happens, we foresee a breakout above the 95.89 level. However, if bears regain control, the index could test the 95.20 level.

H1 chart's resistance levels: 95.89 / 96.60
H1 chart's support levels: 95.20 / 94.37

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 95.89, take profit is at 96.60, and stop loss is at 95.17.

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**InstaForex Gertrude** · 06-07-16, 10:18

Technical analysis of NZD/USD for July 06, 2016

Overview:
The NZD/USD pair dropped sharply from the level of 0.7139 towards 0.7080. Now, the price is set at 0.7089. On the H1 chart, the resistance of NZD/USD pair is seen at the level of 0.7107 and 0.7037. It should be noted that volatility is very high for that the NZD/USD pair is still moving below the resistance level of 0.7107. Moreover, the price spot of 0.7107 remains a significant resistance zone. Therefore, there is a possibility that the NZD/USD pair will move downside and the structure of a fall does not look corrective. In order to indicate the bearish opportunity below 0.7107, sell below 0.7107 with the first target at 0.7075 in order to test yesterday's bottom. Besides, it should be noted that support 1 is seen at the level of 0.7075 which coincides with the daily pivot point. Additionally, if the NZD/USD pair is able to break out the bottom at 0.7075, the market will decline further to 0.7036 in order to test the weekly support 2. On the other hand, if a breakout happens at the resistance level of 0.7139, then this scenario may be invalidated.

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**InstaForex Gertrude** · 07-07-16, 10:19

Technical analysis of Gold for July 7, 2016

Gold price is trading inside a bullish channel. Price reached a new higher high as we had expected but still it is below $1,400. Price reached the resistance area and we might see a pullback towards $1,260 today. A deeper pullback towards $1,250-45 is also possible but overall trend remains strongly bullish.

Blue lines - bullish channel
In the short term, price remains in a strong uptrend above clouds and tenkan- and kijun-sen indicators. Support is at $1,260 and next, at $1,250. Resistance is at $1,270. I continue to be bullish targeting $1,400.

On the weekly chart, price reached the upper boundary of the expanding triangle and got rejected. A lower weekly low will be a reversal signal for gold price that could bring it even back towards $1,200. So bulls need to be very cautious.

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**InstaForex Gertrude** · 08-07-16, 10:16

Daily analysis of GBP/USD for July 08, 2016

The pair remains untouched in a bearish bias around the historical lows reached this week and now it's being supported by the 1.2858 level. A rebound above it can push the cable towards the psychological level of 1.3000. 200 SMA on H1 chart is still bearish and as long as the pair remains trading below that indicator, we could expect further declines.

H1 chart's resistance levels: 1.3000 / 1.3148
H1 chart's support levels: 1.2858 / 1.2750

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 1.3000, take profit is at 1.2858 and stop loss is at 1.3148.

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