Instaforex Analysis

**InstaForex Gertrude** · 16-02-17, 08:39

Daily analysis of GBP/USD for February 16, 2017

The pair was trading in a bearish tone during Wednesday's session, consolidating its price action below the 200 SMA at H1 chart and that should be giving us a hint of further declines in the short-term. If GBP/USD manages to break below the support zone of 1.2414, then we can expect another bearish advance toward 1.2360. MACD indicator is entering the positive territory, favoring to a possible recovery in the Cable.

H1 chart's resistance levels: 1.2480 / 1.2561
H1 chart's support levels: 1.2414 / 1.2360

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 1.2480, take profit is at 1.2561 and stop loss is at 1.2398.

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**InstaForex Gertrude** · 20-02-17, 08:40

Technical analysis of EUR/USD for Feb 20, 2017

When the European market opens, some Economic Data will be released, such as Consumer Confidence and German PPI m/m. The US today will not release any Economic Data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0669.
Strong Resistance:1.0662.
Original Resistance: 1.0652.
Inner Sell Area: 1.0642.
Target Inner Area: 1.0617.
Inner Buy Area: 1.0592.
Original Support: 1.0582.
Strong Support: 1.0572.
Breakout SELL Level: 1.0565.

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**InstaForex Gertrude** · 21-02-17, 08:35

Elliott wave analysis of EUR/NZD for February 21, 2017

Wave summary:
We continue to look for a firm break above resistance at 1.4866 that finally will confirm that a long-term low is in place at 1.4495 and a new impulsive rally higher in wave 3 has begun. The first minor targets to look for is seen at 1.5282 and at 1.5516 on the way towards 1.5836 that is expected to mark the first more substantial resistance. But first we need that break above 1.4866.
R3: 1.5000
R2: 1.4945
R1: 1.4866
Pivot: 1.4800
S1: 1.4745
S2: 1.4675
S3: 1.4620

Trading recommendation:
We are long EUR from 1.4844 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** · 23-02-17, 09:26

Technical analysis of NZD/USD for February 23, 2017

NZD/USD is expected to trade in a higher range. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Additionally, 0.7175 is playing a key support role, which should limit the downside potential. As long as this key level is not broken, look for a further upside toward 0.7220 and even 0.7235 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.7220 and the second one at 0.7235. In the alternative scenario, short positions are recommended with the first target at 0.7145, if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.7125. The pivot point is at 0.7175.

Resistance levels: 0.7220, 0.7235, and 0.7260
Support levels: 0.7145, 0.7125, and 0.7070

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**InstaForex Gertrude** · 27-02-17, 08:37

Technical analysis of EUR/USD for Feb 27, 2017

When the European market opens, some Economic Data will be released, such as Italian 10-y Bond Auction, Private Loans y/y, M3 Money Supply y/y and Spanish Flash CPI y/y. The US will release the economic data, too, such as Pending Home Sales m/m, Durable Goods Orders m/m and Core Durable Goods Orders m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0615.
Strong Resistance:1.0608.
Original Resistance: 1.0598.
Inner Sell Area: 1.0588.
Target Inner Area: 1.0563.
Inner Buy Area: 1.0538.
Original Support: 1.0528.
Strong Support: 1.0518.
Breakout SELL Level: 1.0511.

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**InstaForex Gertrude** · 28-02-17, 08:38

Technical analysis of EUR/USD for Feb 28, 2017

When the European market opens, some Economic Data will be released, such as Italian Prelim CPI m/m, French Prelim GDP q/q, French Prelim CPI m/m and French Consumer Spending m/m. The US will release the economic data, too, such as Richmond Manufacturing Index, CB Consumer Confidence, Chicago PMI, S&P/CS Composite-20 HPI y/y, Prelim Wholesale Inventories m/m, Prelim GDP Price Index q/q, Goods Trade Balance and Prelim GDP q/q, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0631.
Strong Resistance:1.0624.
Original Resistance: 1.0614.
Inner Sell Area: 1.0604.
Target Inner Area: 1.0579.
Inner Buy Area: 1.0554.
Original Support: 1.0544.
Strong Support: 1.0534.
Breakout SELL Level: 1.0527.

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**InstaForex Gertrude** · 02-03-17, 09:16

Technical analysis of GBP/JPY for March 02, 2017

GBP/JPY is expected to trade in higher range. The pair resumed its up trend after the recent bullish breakout of its key level at 139.50. The previous resistance now plays a strong support role, which should limit any downward attempts. In addition, the 50-period moving average is heading upward, and should continue to push the prices higher.

In these perspectives, as long as 139.50 holds on the downside, further advance seems to be on the cards to 140.38 and 141.20 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 140.80 and the second one at 141.20. In the alternative scenario, short positions are recommended with the first target at 138.90, if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 138.50. The pivot point is at 139.50.

Resistance levels: 140.80, 141.20, and 142.00
Support levels: 138.90,138.50, and 138.00

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

Technical analysis of EUR/USD for Mar 03, 2017

When the European market opens, some Economic Data will be released, such as Retail Sales m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI and German Retail Sales m/m. The US will release the economic data, too, such as ISM Non-Manufacturing PMI and Final Services PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0567.
Strong Resistance:1.0560.
Original Resistance: 1.0550.
Inner Sell Area: 1.0540.
Target Inner Area: 1.0515.
Inner Buy Area: 1.0490.
Original Support: 1.0480.
Strong Support: 1.0470.
Breakout SELL Level: 1.0463.

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**InstaForex Gertrude** · 06-03-17, 08:43

Technical analysis of EUR/USD for Mar 06, 2017

When the European market opens, some Economic Data will be released, such as Sentix Investor Confidence and Retail PMI. The US will release the economic data, too, such as Factory Orders m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0662.
Strong Resistance:1.0655.
Original Resistance: 1.0645.
Inner Sell Area: 1.0635.
Target Inner Area: 1.0610.
Inner Buy Area: 1.0585.
Original Support: 1.0575.
Strong Support: 1.0565.
Breakout SELL Level: 1.0558.

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**InstaForex Gertrude** · 10-03-17, 08:35

Elliott wave analysis of EUR/JPY for March 10, 2017

Wave summary:
EUR/JPY continues to higher toward the next upside target seen at 122.90 on the way higher to 124.20 and possibly even closer to 125.53 before wave 3 is complete. Short-term, we will ideally see minor support at 121.89 being able to protect the downside for the continuation higher to 122.90 and above.

R3: 122.90
R2: 122.53
R1: 122.25
Pivot: 122.00
S1: 121.89
S2: 121.75
S3: 121.25

Trading recommendation: WE are long EUR from 119.86 and will move our stop higher to 121.20. If you are not long EUR yet, then buy near 121.89 and use the same stop.

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**InstaForex Gertrude** · 14-03-17, 08:32

Technical analysis of EUR/USD for Mar 14, 2017

When the European market opens, some Economic Data will be released, such as ZEW Economic Sentiment, Industrial Production m/m, German ZEW Economic Sentiment, and German Final CPI m/m. The US will release the economic data, too, such as Core PPI m/m, PPI m/m, and NFIB Small Business 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: 1.0701.
Strong Resistance:1.0694.
Original Resistance: 1.0684.
Inner Sell Area: 1.0674.
Target Inner Area: 1.0649.
Inner Buy Area: 1.0624.
Original Support: 1.0614.
Strong Support: 1.0604.
Breakout SELL Level: 1.0597.

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**InstaForex Gertrude** · 15-03-17, 08:36

Technical analysis of USD/JPY for March 15, 2017

USD/JPY is under pressure. The pair is trading below its 50-period moving average and is testing the 20-period one. The relative strength index is below its neutrality level at 50. Additionally, 115.25 is playing a key resistance role, which should limit the upside potential.

As long as this key level holds on the upside, look for a further drop toward 114.60 and even 114.25 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 114.60. A break below this target will move the pair further downwards to 114.25. The pivot point stands at 115.25. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 115.50 and the second one at 115.75.

Resistance levels: 115.50, 116.00, and 116.45
Support levels: 114.25, 113.80, and 113.35

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**InstaForex Gertrude** · 16-03-17, 08:37

Technical analysis of EUR/USD for Mar 16, 2017

When the European market opens, some Economic Data will be released, such as Final Core CPI y/y, and Final CPI y/y. The US will release the economic data, too, such as Natural Gas Storage, JOLTS Job Openings, Housing Starts, Unemployment Claims, Philly Fed Manufacturing Index, and Building Permits, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0789.
Strong Resistance:1.0783.
Original Resistance: 1.0772.
Inner Sell Area: 1.0761.
Target Inner Area: 1.0736.
Inner Buy Area: 1.0711.
Original Support: 1.0700.
Strong Support: 1.0689.
Breakout SELL Level: 1.0683.

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**InstaForex Gertrude** · 20-03-17, 08:50

Technical analysis of USD/JPY for March 20, 2017

USD/JPY is expected to prevail its downside movement. The pair is trading below its declining 20-period and 50-period moving averages, which play resistance roles and maintain the downside bias, and is consolidating on the downside. The relative strength index is below its neutrality level at 50 and lacks upward momentum.

As long as 113.00 holds on the upside, look for a further drop toward 112.05 and even 111.65 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 112.05. A break below this target will move the pair further downwards to 111.65. The pivot point stands at 113.00. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 113.50 and the second one at 114.00.

Resistance levels: 113.50, 114.00, and 114.45
Support levels: 112.05, 111.65, and 111.25

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**InstaForex Gertrude** · 21-03-17, 08:54

Technical analysis of GBP/JPY for March 21, 2017

GBP/JPY is expected to trade in the lower range. The pair remains capped by its descending 20-period moving average, which has again crossed below the 50-period moving average. Meanwhile, the relative strength index stays below its neutrality area at 50 and has broken down the 30 level. The intraday trend remains negative.

As long as 139.80 holds as the key resistance, expect a drop to the nearest support at 138.85 at first. A break below 138.85 allows for the further drop to 138.55 as likely.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 138.85. A break below this target will move the pair further downwards to 138.55. The pivot point stands at 139.80. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 140.20 and the second one at 140.50.

Resistance levels: 140.20, 140.50, and 140.95
Support levels: 138.85,138.55, and 138.00

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**InstaForex Gertrude** · 22-03-17, 08:44

Technical analysis of GBP/JPY for March 22, 2017

GBP/JPY is under pressure. The pair is still capped by its descending 20-period moving average, which has crossed below the 50-period moving average. Meanwhile, the relative strength index stays below its neutrality area at 50 and lacks upward momentum. The intraday trend remains negative.

As long as 139.85 holds as the key resistance, expect a drop to the nearest support at 138.85 at first. A break below 138.85 allows for the further drop to 138.55 as likely.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 138.85. A break below this target will move the pair further downwards to 138.55. The pivot point stands at 139.80. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 140.20 and the second one at 140.50.

Resistance levels: 140.20, 140.50, and 140.95
Support levels: 138.85,138.55, and 138.00

More analysis - at instaforex.com

**InstaForex Gertrude** · 27-03-17, 09:57

Technical analysis of EUR/USD for Mar 27, 2017

When the European market opens, some Economic Data will be released, such as Private Loans y/y, M3 Money Supply y/y, and German Ifo Business Climate. Today, the US will not release any Economic Data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0897.
Strong Resistance:1.0891.
Original Resistance: 1.0880.
Inner Sell Area: 1.0869.
Target Inner Area: 1.0844.
Inner Buy Area: 1.0819.
Original Support: 1.0808.
Strong Support: 1.0797.
Breakout SELL Level: 1.0791.

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**InstaForex Gertrude** · 28-03-17, 09:35

NZD/USD intraday technical levels and trading recommendations for March 28, 2017

The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected.

Bearish persistence below 0.7250 allowed further decline toward 0.7100 then 0.6960 which failed to provide enough support for the pair.

That is why further bearish fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, the bullish breakout above the depicted key level (0.6960) was achieved. That is why any bearish pullback toward 0.6960 should be watched for bullish rejection and a possible BUY entry.

On the other hand, the price level of 0.7100 remains a significant key level to be watched for bearish price action if the current bullish pullback persists above 0.7040.

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**InstaForex Gertrude** · 29-03-17, 09:40

Technical analysis of EUR/USD for Mar 29, 2017

When the European market opens, some Economic Data will be released, such as German Import Prices m/m. The US will release the Economic Data, too, such as Crude Oil Inventories, Pending Home Sales m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0869.
Strong Resistance:1.0863.
Original Resistance: 1.0852.
Inner Sell Area: 1.0841.
Target Inner Area: 1.0816.
Inner Buy Area: 1.0791.
Original Support: 1.0780.
Strong Support: 1.0769.
Breakout SELL Level: 1.0763.

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**InstaForex Gertrude** · 31-03-17, 09:37

Technical analysis of EUR/USD for Mar 31, 2017

When the European market opens, some Economic Data will be released, such as Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, German Unemployment Change, French Prelim CPI m/m, French Consumer Spending m/m, and German Retail Sales m/m. The US will release the Economic Data, too, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0738.
Strong Resistance:1.0731.
Original Resistance: 1.0721.
Inner Sell Area: 1.0711.
Target Inner Area: 1.0686.
Inner Buy Area: 1.0661.
Original Support: 1.0651.
Strong Support: 1.0641.
Breakout SELL Level: 1.0634.

More analysis - at instaforex.com