Instaforex Analysis

**InstaForex Gertrude** · 14-08-18, 07:40

Elliott wave analysis of EUR/NZD for August 14, 2018

We are looking for red wave ii to complete in the 1.7196 - 1.7258 target-zone. Once this correction is complete a new impulsive rally to above 1.7487 is expected for a continuation higher to 1.7924 and 1.8369 as the next upside important upside targets. Short-term only a break above minor resistance at 1.7356 will indicate that a corrective low has been seen for red wave ii and red wave iii is taking over for a rally to above 1.7487.

R3: 1.7487
R2: 1.7417
R1: 1.7355
Pivot: 1.7322
S1: 1.7258
S2: 1.7226
S3: 1.7196

Trading recommendation:
We will re-buy EUR at 1.7245 or upon a break above 1.7356.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 16-08-18, 07:44

Elliott wave analysis of EUR/NZD for August 16, 2018

A break above resistance at 1.7355 is still needed to confirm that red wave ii has completed and red wave iii to above 1.7484 is developing.

Short-term, we see support at 1.7262 and again at 1.7238. The later will ideally be able to protect the downside for the break above 1.7355 towards 1.7484 and above, with the next important targets seen at 1.7924 and 1.8369.

R3: 1.7484
R2: 1.7417
R1: 1.7355
Pivot: 1.7299
S1: 1.7270
S2: 1.7243
S3: 1.7220

Trading recommendation: We are long EUR from 1.7245 with our stop placed at 1.7215.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 20-08-18, 07:15

Elliott wave analysis of EUR/NZD for August 20, 2018

Nothing happening here. The range-trading between 1.7220 and 1.7310 continues to dominate the picture. We continue to look for a break above resistance at 1.7310 and more importantly a break above resistance at 1.7355 that confirms red wave ii has completed and red wave iii has taken over for the next impulsive rally towards 1.7924 and 1.8369 as the next larger upside targets.

R3: 1.7484
R2: 1.7417
R1: 1.7355
Pivot: 1.7310
S1: 1.7270
S2: 1.7243
S3: 1.7220

Trading recommendation:
We are long EUR from 1.7245 with our stop placed at 1.7215.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 22-08-18, 06:39

Elliott wave analysis of EUR/NZD for August 22, 2018

EUR/NZD once again failed to break above important short-term resistance at 1.7355 and instead turned around to make a small new low at 1.7211. This is a disappointment and keeps red wave ii alive, but it does not change our larger bullish count calling for more upside pressure above 1.7484 longer-term. To confirm that red wave ii has completed, we still need a break above resistance at 1.7355 and as long as this short-term important resistance remains able to cap the upside, red wave ii could dip closer to 1.7196, but the potential downside should be limited to here for a break above minor resistance at 1.7327 and more importantly a break above 1.7355 confirming red wave iii is developing for a rally above 1.7484.

R3: 1.7355
R2: 1.7327
R1: 1.7275
Pivot: 1.7255
S1: 1.7221
S2: 1.7196
S3: 1.7162

Trading recommendation:
Ous stop was hit for a small loss of 20 pips. We will re-buy EUR at 1.7205 or upon a break above 1.7327 and place our stop at 1.7200.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 23-08-18, 08:20

Elliott wave analysis of EUR/JPY for August 23, 2018

EUR/JPY still has not broken important short-term resistance at 128.48, but then it has not started to move strongly lower as we normally should expect at the completion of an expanded flat.

Therefore we are shifting our preferred count in favor of wave C and II having completed with the test of 124.86 and wave III now in its infancy. Under this count EUR/JPY should make a small downward correction towards 127.23 - 127.33 area in red wave iv and then move higher towards the 128.92 - 129.32 area in red wave v.

This will complete black wave i/ and should set the stage for a corrective decline in wave ii/ towards the 125.76 - 126.44 area before the next impulsive rally higher. That said, the possibility of a final dip closer to 124.62 remains possible, but time is running out fast.

R3: 128.92
R2: 128.48
R1: 128.24
Pivot: 127.93
S1: 127.72
S2: 127.50
S3: 127.33

Trading recommendation:
We are 50% long EUR from 126.26 with our stop placed at 126.84. We will take pro

Analysis are provided by InstaForex

**InstaForex Gertrude** · 24-08-18, 07:01

Elliott wave analysis of EUR/NZD for August 24, 2018

EUR/NZD has finally broken above short-term important resistance at 1.7355. This former resistance should now act as support if a re-test is needed.

The break above resistance at 1.7355 should have paved the way for a continuation higher towards 1.7484 on the way towards 1.7924 and 1.8369 as the next important upside targets. EUR/NZD is now in a position where it could start accelerate quiet powerfully higher, but we think a clear break above 1.7484 will be needed to see the expected upside acceleration.

R3: 1.7668
R2: 1.7578
R1: 1.7484
Pivot: 1.7366
S1: 1.7355
S2: 1.7325
S3: 1.7281

Trading recommendation:
We bought EUR at 1.7330 and we have placed our stop at 1.7275.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 31-08-18, 07:27

GBP/USD. Trading system "Regression channels". The growth of the pound sterling may be temporary

4-hour timeframe

Technical data:
Higher channel of linear regression: direction - down.
The lower channel of linear regression: direction - down.
The moving average (20; flattened) is up.
CCI: 159.4805

Yesterday, the GBP/USD currency pair showed impressive growth, after Michel Barnier, the main negotiator for Brexit from the EU, announced the forthcoming special offer for London. But according to the European Union, he did not mentioned the proposal's essence and how it will be resolved all disagreements with Britain. However, the markets reacted with strong purchases of the British pound. We believe that this market reaction is short-term and impulsive. So far, even the essence of the proposal is unclear. It is likely that Theresa May will not agree with this proposal, but almost nobody doubts that the negotiations will drag on beyond October. Thus, the pound sterling will remain under market pressure, and even Trump's desire to weaken the dollar may not prevent further strengthening of the pound/dollar, while with other currencies paired with the dollar may decline. The data on personal income adjustments and expenditure of the population in the United States will be publish today. Possibly, this data can affect the traders' mood but the most important agenda for today is about global topics, so these reports are unlikely have a significant effect to the trading course. From a technical point of view, a correction is brewing, as there was a very strong growth yesterday, and the last bar is painted in blue today.

Nearest support levels:
S1 = 1.2939
S2 = 1.2817
S3 - 1.2695
Nearest resistance levels:
R1 = 1.3062
R2 = 1.3184
R3 = 1.3306

Trading recommendations:
The GBP/USD pair may start to adjust. Correction can be worked out (if a second blue bar is formed in a row), since the descending sentiment of the pair remains. The target for short positions is the moving average line in small lots.
Buy-positions are recommended to resume in case of a reversal of the Heiken Ashi indicator above or overcoming the 1.3062 level. The next target for the bulls will be the Murray level of 1.3184.
In addition to the technical picture, one should also take into account the fundamental data and the time of their release.
Explanations for illustrations:
The upper channel of linear regression is the blue lines of unidirectional motion.
The junior channel is linear-violet lines of unidirectional motion.
CCI - the blue line in the regression window of the indicator.
Moving average (20; smoothed) - the blue line on the price chart.
Murray Levels - multi-colored horizontal stripes.
Heiken Ashi is an indicator that color bars in blue or purple.
* The presented market analysis is informative and does not constitute a guide to the transaction.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 07-09-18, 08:10

EUR/JPY Testing Support, Prepare For A Bounce

EUR/JPY is approaching its support at 127.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where the price is expected to bounce up to its resistance at 129.69 (61.8% Fibonacci retracement, horizontal swing high resistance).

Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce is expected.

EUR/JPY is testing its support where we expect to see a bounce.

Buy above 127.94. Stop loss at 127.01. Take profit at 129.69.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 10-09-18, 07:43

Elliott wave analysis of EUR/NZD for September 10, 2018

We continue to look for more upside pressure towards the next sub-target at 1.7820. Longer term resistance at 1.7820 only should prove to be a temporary cap as more upside towards strong resistance at 1.8369 remains expected.

Support is now seen at 1.7683 and again at 1.7638 only a break below the later, we confirm more sideways consolidation, and a dip to 1.7605 before the next strong push higher.

R3: 1.7820
R2: 1.7750
R1: 1.7734
Pivot: 1,7701
S1: 1.7683
S2: 1.7638
S3: 1.7605

Trading recommendation:
We are long EUR from 1.7330 with our stop placed at 1.7565, Upon a break above 1.7734 we will move our stop higher to 1.7595.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 11-09-18, 07:14

Elliott wave analysis of EUR/NZD for September 11, 2018

EUR/NZD keeps making headway towards the sub-target at 1.7820. Ideally, this resistance will only make a temporary top for the next swing higher towards the more important resistance at 1.8369.

Support is now seen at 1.7668 and if a break below here is seen, then a corrective decline closer to support at 1.7605 could be seen, but it should be short-lived as the steady uptrend continues higher towards 1.8369. R3: 1.8016

R2: 1.7919
R1: 1.7820
Pivot: 1.7738
S1: 1.7701
S2: 1.7668
S3: 1.7605

Trading recommendation:
We are long EUR from 1.7330 and we will move our stop higher to 1.7660.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 12-09-18, 06:38

Elliott wave analysis of EUR/NZD for September 12, 2018

The 1.7820 targets have now been tested. The question is whether this was the top of red wave iii and a correction in red wave iv is needed now? We have seen a quite massive negative divergence being build in the run higher to 1.7820, so it should come as no surprise if a minor correction in red wave iv is about to begin. A break below 1.7738 will indicate this is the case.

That said, the rally to 1.7820 only represents the minimum extension target of red wave i. Therefore, we have to be equally ready for this extension to continue towards the next extension targets at 1.7954 (the 200% extension of red wave i) or even higher to the 261.8% extension target of red wave i at 1.8184.
R3: 1.7954
R2: 1.7900
R1: 1.7825 Pivot: 1.7738
S1: 1.7678
S2: 1.7629
S3: 1.7590

Trading recommendation:
We are long EUR from 1.7330 and we will move our stop higher to 1.7730.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 14-11-18, 07:53

Intraday Level For EUR/USD for November 14, 2018

When the European market opens, some economic data will be released such as German 30-y Bond Auction, Industrial Production m/m, Flash GDP q/q, French Final CPI m/m, and German Prelim GDP q/q. The US will also publish the economic data such as Core CPI m/m, and CPI m/m, so amid the reports, the EUR/USD pair will move in a low to a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1361.
Strong Resistance:1.1354.
Original Resistance: 1.1343.
Inner Sell Area: 1.1332.
Target Inner Area: 1.1305.
Inner Buy Area: 1.1278.
Original Support: 1.1267.
Strong Support: 1.1256.
Breakout SELL Level: 1.1249.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 13-09-18, 08:06

Intraday technical levels and trading recommendations for GBP/USD for September 13, 2018

The recent bearish movement of the GBP/USD has shown signs of weakness since September 5 when an ascending bottom was established around 1.2800

The GBP/USD pair is currently testing the depicted downtrend line which comes to meet the pair around 1.3025-1.3090.

This price zone (1.3025-1.3090) corresponds to 50% and 61.8% Fibonacci levels where evident bearish rejection should be anticipated.

As long as sings of bearish rejection are demonstrated below 1.3020 (50% Fibo level), the short-term outlook remains bearish towards 1.2840 and 1.2780.

On the other hand, successful bullish breakout above 1.3090 will probably hinder the current bearish movement allowing further bullish advancement to occur towards 1.3200, 1.3250 and 1.3315.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 24-09-18, 07:32

Elliott wave analysis of EUR/NZD for September 24, 2018

EUR/NZD should stay above the peak of red wave i at 1.7488 for the next impulsive rally towards 1.8031. If an unexpected break below 1.7488 is seen, the we will have to make a recount of the rally from 1.6534 and count the rally as a series of waves ones and twos. This is not our preferred count, but it remains a possibility as long as re stay below 1.7783. A break above here will confirm that the next impulsive rally is developing higher towards 1.8030 and longer term closer to 1.8369.

R3: 1.7711
R2: 1.7680
R1: 1.7650
Pivot: 1,7620
S1: 1.7586
S2: 1.7539
S3: 1.7488

Trading recommendation:

We are long EUR from 1.7615 with our stop placed at 1.7515. If you are not long EUR yet, the wait and buy a break above 1.7680 and start by using a stop, just below the most recent low.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 28-09-18, 07:20

Elliott wave analysis of EUR/NZD for September 28, 2018

The daily trading range is getting smaller and smaller, indicating that energy is building for the next larger move towards the upside. A break above minor resistance at 1.7685 will be the first good indication, that the next impulsive rally towards 1.8030 is developing, while a break above resistance at 1.7732 will confirm this rally is well underway. Support at 1.7580 should continue to protect the downside for the expected break above 1.7685 and above.

R3: 1.7823
R2: 1.7783
R1: 1.7732
Pivot: 1.7685
S1: 1.7651
S2: 1.7626
S3: 1.7580

Trading recommendation:

We are long EUR from 1.7615 with our stop placed at 1.7515. Upon a break above 1.7732 we will move our stop higher to 1.7575. We will take profit on half our position at 1.8000.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 08-10-18, 07:11

Elliott wave analysis of EUR/NZD for October 8, 2018

There was no time for a correction and EUR/NZD is moving directly higher towards the next target at 1.8030. Support is now seen at 1.7800 and again at 1.7758, only a break below the later support will indicate a deeper correction towards 1.7643 unfolding, before the next advance towards the 1.8369 target.

R3: 1.8100
R2: 1.8030
R1: 1.7900
Pivot: 1.7800
S1: 1 7758
S2: 1.7692
S3: 1.7642

Trading recommendation:
We are long half a position from 1.7500 and we will move our stop higher to 1.7725.

Analysis are provided byInstaForex.

**InstaForex Gertrude** · 11-10-18, 08:41

Elliott wave analysis of EUR/NZD for October 11, 2018

The break above resistance at 1.7847 told us that the corrective decline from 1.7929 had completed prematurely and a new impulsive rally towards 1.8030 and 1.8369 should be unfolding.

Despite our expectation of a new impulsive rally towards 1.8030, we should be aware of the possibility of a more complex correction unfolding, but the minimum upside target should be 1.7929 if a larger flat correction is in the making.

R3: 1.8030
R2: 1.7960
R1: 1.7929
Pivot: 1.7882
S1: 1.7835
S2: 1.7800
S3: 1.7774

Trading recommendation:
We are long EUR from 1.7847 and we will place our stop at 1.7780. Upon a break above 1.7882 will will move our stop to break-even at 1.7847.

Analysis are provided byInstaForex.

**InstaForex Gertrude** · 16-10-18, 09:38

Elliott wave analysis of EUR/JPY for October, 2018

EUR/JPY has seen a low at 129.12 and we are now looking for a break above minor resistance at 129.80 and more importantly a break above short-term important resistance at 130.51. It will confirm that blue wave (2) has completed and blue wave (3) towards 138.10 is developing.
Support is now seen at 129.34 and then at 129.12.
R3: 130.85
R2: 130.51
R1: 130.05
Pivot: 129.80
S1: 129.34
S2: 129.12
S3: 128.99

Trading recommendation: We will buy EUR at 129.10 or upon a break above 129.80.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 18-10-18, 07:22

GBP/USD: turned away from the pound

Wednesday's trading day is marked by uncertainty. The dollar is gaining momentum ahead of the publication of the latest minutes of the Federal Reserve, and the pound and defensive instruments are waiting for the outcome of the EU summit. General nervousness plays in favor of the US currency, especially after the recovery of the US stock market. The British currency, in turn, is not only under the pressure of negative rumors about Brexit, but also due to the slowdown of inflation indicators. There was no trace of yesterday's optimism, after which the GBP/USD pair headed towards the 30th figure.

Meanwhile, there are no results of the key summit yet: only a working dinner will be held tonight, while Theresa may is holding bilateral meetings with its participants. Therefore, the main statements will be announced or closer to the night or (most likely) by tomorrow. But the pound is already getting cheaper throughout the market, as negative forecasts regarding the Brussels meeting began to prevail in the information field. For example, German Chancellor Angela Merkel said today that Germany has begun preparations for a chaotic Brexit, as the issue of the Irish border remains an insurmountable stumbling block. The head of the European Council Donald Tusk yesterday took a similar position, adding that the probability of "hard" Brexit is high as ever.

Representatives of other countries are less categorical, but most of them are wary of the upcoming negotiations. Increasingly, there are thoughts that the parties need a time gap until November, December or even January. It is difficult to say whether the rhetoric of the Europeans is a "strategic maneuver" on the eve of the main negotiations, but, apparently, the parties do not really expect any breakthrough from the October meeting.

According to a number of experts, there is an elementary "game of nerves": despite the fact that the parties planned to reach a compromise in September, the so-called "red line" is still relatively far away. Therefore, so far it is possible to exhaust each other with threats of chaotic Brexit with all the ensuing consequences. Such behavior is a risk, as after another failure in Brussels under Theresa May could once again stagger the prime minister's chair, not only in opposition to the labour, as there are many representatives of the Conservative Party who oppose her.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 22-10-18, 08:16

Elliott wave analysis of EUR/NZD for October 22, 2018

EUR/NZD dipped to 1.7356 (just below our possible downside target at 1.7357). We will now be looking for a break above the resistance-line near 1.7495, and more importantly, a break above the resistance at 1.7557 to confirm that the red wave ii/ has completed and the red wave iii/ towards 1.8345 is developing. Support is now seen at 1.7381 and at 1.7356.

R3: 1.7598
R2: 1.7557
R1: 1.7495
Pivot: 1.7475
S1: 1.7450
S2: 1.7409
S3: 1.7381

Trading recommendation:
We will buy a break above the resistance at 1.7495, while our stop will be placed at 1.7345.

Analysis are provided byInstaForex.