Instaforex Analysis

**InstaForex Gertrude** · 08-08-16, 08:23

Daily analysis of Gold for August 05, 2016

Overview
The gold price showed positive trading after leaning on the EMA50 yesterday. Positive support by stochastic on the intraday time frames keeps the chances of trading positively valid in the upcoming sessions. The price is likely to breach 1,375.00 levels to reinforce the expectations of targeting the 1,400.00 followed by 1,440.00 areas. Therefore, we still expect the bullish trend on the intraday and short-term bases unless breaking and holding below 1,312.00 and 1,297.75 levels. The expected trading range for today is between the 1,345.00 support and the 1,390.00 resistance.

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

AUD/NZD Trading Recommendations for 9th August 2016

Price reached our profit target perfectly yesterday. Today we turn bearish below 1.0740 major resistance (horizontal resistance + Fibonacci projection) for a new drop to 1.0630. Stochastics (21,5,3) has turned down strongly from 94% resistance signaling a bearish move is in progress.

Trading Recommendations:
Sell below 1.0740.
Stop Loss at 1.0825.
Take profit at 1.0630.

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**InstaForex Gertrude** · 10-08-16, 09:18

Technical analysis of Gold for August 10, 2016

Gold price has pulled back towards the 61.8% Fibonacci retracement and is showing signs of a bullish reversal. In my last analysis I noted the importance of the support in this area and that would be the last chance for bulls. Otherwise the scenario of a deep pull back towards $1,200 gets the lead.

After the rejection at $1,370-75 area price pulled back towards the 61.8% Fibonacci retracement support. With oscillators diverging and turning upwards, there is a good chance a new leg up has started in Gold with targets above $1,400. Support is at $1,330 and most crucial at $1,300. Resistance is at $1,350 and next at $1,375.

Blue lines - bullish channel
Gold price remains inside the medium-term bullish channel. Price is holding above the weekly tenkan-sen (red line indicator) implying the trend has not changed yet. This holds the bullish scenario for a new high towards $1,425-$1,450 alive. A break below $1,300 will confirm the bearish scenario for a deeper pull back towards $1,180.

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**InstaForex Gertrude** · 11-08-16, 08:53

Daily analysis of USDX for August 11, 2016

The index extended losses and it's looking to break the support zone of 95.51. A breakout below that level should expose the bears to the 95.19 level, where a key bottom is located. However, as we saw a dynamic resistance around the 200 SMA price level, that should be taken as a confirmation of a possible bearish continuation.

H1 chart's resistance levels: 95.93 / 96.32
H1 chart's support levels: 95.51 / 95.19

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 95.51, take profit is at 95.19 and stop loss is at 95.83.

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**InstaForex Gertrude** · 12-08-16, 08:58

Daily analysis of USDX for August 12, 2016

USDX is still hovering around the 200 SMA and now it's looking to re-test the support level of 95.51. If the Index achieves in break it, then we can expect a bearish continuation towards the 95.19 level on a short-term basis. By the way, the index could attempt a breakout above the 95.93 level, in a move that could open the doors to test the 96.32 level.

H1 chart's resistance levels: 95.93 / 96.32
H1 chart's support levels: 95.51 / 95.19

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 95.51, take profit is at 95.19 and stop loss is at 95.83.

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**InstaForex Gertrude** · 15-08-16, 08:57

Technical analysis of EUR/USD for Aug 15, 2016

When the European market opens, there is no economic data will be released but the US will release the economic data too such as TIC Long-Term Purchases, NAHB Housing Market Index, 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: 1.1215.
Strong Resistance:1.1209.
Original Resistance: 1.1198.
Inner Sell Area: 1.1187.
Target Inner Area: 1.1161.
Inner Buy Area: 1.1135.
Original Support: 1.1124.
Strong Support: 1.1113.
Breakout SELL Level: 1.1107.

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** · 16-08-16, 08:27

Daily analysis of GBP/USD for August 16, 2016

The pair is posting more declines below the 1.3000 psychological level, and we can see further weakness toward the support level of 1.2798. The 200 SMA on the H1 chart is pointing to the downside and it can put pressure on GBP/USD. However, if we see a rebound, then the next hurdle will be the 1.2950 level. MACD indicator is entering neutral territory, and that should lead to a sideways range.

H1 chart's resistance levels: 1.3000 / 1.3085
H1 chart's support levels: 1.2894 / 1.2798

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 1.2894, take profit is at 1.2798 and stop loss is at 1.2987.

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**InstaForex Gertrude** · 18-08-16, 08:51

Technical analysis of USD/JPY for Aug 18, 2016

In Asia, Japan will release the Trade Balance and the US will release some economic data such as Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, Philly Fed Manufacturing Index.So there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Resistance. 3: 100.31.
Resistance. 2: 100.12.
Resistance. 1: 99.92.
Support. 1: 99.68.
Support. 2: 99.46.
Support. 3: 99.29.

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**InstaForex Gertrude** · 19-08-16, 08:27

Technical analysis of GBP/USD for August 19, 2016

I warned the GBP/USD bears that a bounce towards 1.32 was imminent after a breakout of the bullish wedge formation that started on August 3rd. The price has broken out and above the wedge and has reached the 61.8% Fibonacci retracement of the decline.

The blue lines - bullish wedge The price has reached the 61.8% Fibonacci retracement of the decline which is an important juncture point. A bearish reversal may start from this area. Next resistance is the 78.6% Fibonacci retracement. Support is at 1.3070.

A break above 1.3260-1.3350 could push the price towards 1.35-1.36 and the weekly cloud resistance area. This is a sell area, and bears are not going to give up easily. I believe the US dollar will strengthen against the pound again, and we will see another round of selling that will eventually push the pair towards 1.25.

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**InstaForex Gertrude** · 23-08-16, 08:52

Daily analysis of USDX for August 23, 2016

USDX hasn't reached the 200 SMA on the H1 chart, and currently it is declining towards the support zone of 94.32 which can be tested soon. Below that zone, further weakness will push the index towards the 94.07 level. However, if USDX does a rebound at the current stage, then it can test the 95.00 psychological level.

H1 chart's resistance levels: 94.65 / 95.00
H1 chart's support levels: 94.32 / 94.07

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 94.32, take profit is at 94.07 and stop loss is at 94.57.

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**InstaForex Gertrude** · 24-08-16, 08:37

Daily analysis of USDX for August 24, 2016

The index performed a rebound during Tuesday's session, following a bearish Monday's session that took the USDX to test the support zone of 94.32. However, the risk to the downside is still high and one could expect a breakout below there eventually in order to reach the 94.07 level. 200 SMA on the H1 chart is slightly bearish.

H1 chart's resistance levels: 94.65 / 95.00
H1 chart's support levels: 94.32 / 94.07
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 94.32, take profit lies at 94.07 and stop loss is at 94.57.

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**InstaForex Gertrude** · 25-08-16, 08:34

Daily analysis of USDX for August 25, 2016

USDX is finding resistance at the 200 SMA price zone in an effort to reach the 95.00 psychological level. This stage is key for the current trend's development, as the index can break that level in order to extend the rally towards the 95.49 level. On the other hand, if USDX pulls back, it can test the 94.32 level again.

H1 chart's resistance levels: 95.00 / 95.49
H1 chart's support levels: 94.65 / 94.32

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 94.65, take profit lies at 94.32 and stop loss is at 94.99.

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**InstaForex Gertrude** · 26-08-16, 09:02

EURJPY Technical Analysis for August 26, 2016

Technical outlook and chart setups:
The EURJPY pair is seen to be consolidating at the moment, looks to be in its wave 4 of the 5 wave's decline that resumed from 118.45 levels earlier. It is seen to be trading at 113.50 levels at this moment, looking to continue dropping lower from here. Please note that the pair has reversed lower from 114.00/10 levels as expected which is also fibonacci 0.382 resistance of wave 3. The wave structure remains unchanged for now and indicates that EURJPY has formed major top at 121.90 levels earlier, and has also carved out a lower high at 118.50 levels as seen here. At this moment the pair looks to have terminated wave 4 already, within its 3rd wave drop from 118.50 levels. Bears are expected to remain in control till prices stay below 115.00 levels going forward. It is hence recommended to remain short now with risk above 115.00 levels. Immediate resistance is seen at 115.00 levels, while support is at 110.50 levels respectively.

Trading recommendations:
Remain short now; stop above 115.00, target is open.

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**InstaForex Gertrude** · 30-08-16, 09:08

Daily analysis of GBP/USD for August 30, 2016

The H1 chart shows us more declines on GBP/USD, which is trying to find support at the 1.3085 level. Below the 200 SMA on this timeframe, we should expect further decline across the board, with the first target at the 1.3003 level. According to the upside scenario, if the cable manages to consolidate above the 1.3170 price zone, then a rally towards the 1.3258 level can be expected.

H1 chart's resistance levels: 1.3170 / 1.3258
H1 chart's support levels: 1.3085 / 1.3003

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 1.3170, take profit is at 1.3258 and stop loss is at 1.3085.

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**InstaForex Gertrude** · 31-08-16, 08:05

Daily analysis of USDX for August 31, 2016

Another bullish day for the US Dollar Index was seen during Tuesday's session, following positive data from the United States. The resistance lies at the 96.14 level where the sellers could resume the downside to taking the index into a corrective phase. In case of a breakout above that zone, we will see a rally towards the 96.49 level.

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** · 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.

More analysis - at instaforex.com

**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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