Instaforex Analysis

**InstaForex Gertrude** · 20-02-14, 09:10

Daily analysis of GBP/JPY for February 20, 2014

Overview
As it was expected, we should wait for breaking the Resistance area of 172.00-171.50 before making a decision to continue the bullish move. Yesterday, as it is shown in the H4 chart, the pair failed to break this Resistance level to trade below this area and above the Support level of 169.75. Currently, it is testing the Support level of 169.75 trying to break it through to continue its bearish move. If the pair manages to break this Support level and closes 4H below, it would be another good opportunity for more sell-signals till reaching the Support level of 168.50 as the first target.

Resistance and Support levels: R3 (172.00), R2(171.50), R1(170.50), S1 (169.75), S2 (168.50), S3(167.00).

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**InstaForex Gertrude** · 21-02-14, 08:58

Technical analysis of USD/JPY for February 21, 2014

In Asia, Japan will release the Monetary Policy Meeting Minutes, and the US will release the economic data such as US-Existing Home Sale. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.95.
Resistance. 2: 102.75.
Resistance. 1: 102.55.
Support. 1: 102.30.
Support. 2: 102.10.
Support. 3: 101.90.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.90) and resistance 3 (102.95). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**InstaForex Gertrude** · 24-02-14, 09:26

Weekly technical levels of GBP/USD for February 24-28, 2014

Trading recommendations:
As it is known, sellers are asking for a high price as well as buyers are bidding at a lower price. Therefore, the first key level will set at the level of 1.6755 and the second key level will set at the 1.6545 level on February 24, 2014. Equally important, the price of the GBP/USD pair has still been moving between 1.6683 and 1.6603. Additionally, it should be noted that the range was about 210 pips last week. Furthermore, the trend was very clear and was indicating in downtrend. Accordingly, we expect that the trend is going to call for a bearish market at the level of 1.6750 in H1 chart. As a result, sell at the price of 1.6750 with the first target of 1.6663, it might resume to 1.6544 in order to test the weekly support 1. on the other hand, your stop loss should be placed above the 1.6755, hence it will helpful to set it at the price of 1.6780.

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**InstaForex Gertrude** · 25-02-14, 10:29

Technical analysis of EUR/JPY for February 25, 2014

Technical outlook and chart setups:
1. EUR/JPY remains more or less unchanged within the 140.00/50 territory. Recommendations are to remain short for now, the risk remains at 143.00 levels. A push through 143.00 would indicate further strength and challenge 145.50.
2. Immediate resistance is at 142.00/50, followed by 145.50; while supports are spread through 136.50 (intermediary), 134.00, 131.00 and lower respectively.
3. The structure indicates that bears would remain in control untill prices remain under 143.00. Immediate target would be towards the rising support line near 135.00 region now. A break lower will indicate further weakness towards 131.00.

Trading recommendations:
Remain short, stop at 143.00 target open.

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**InstaForex Gertrude** · 26-02-14, 09:20

Technical analysis of USD/IDR for February 26, 2014

The USD/IDR now have a good strengthened momentum against USD by a few factors such as:
1. Jannet Yallen's policy on the FED's Stimulus.
2. The JSX (Jakarta Stock Exchange) rebound causes the capital inflow to Indonesia.
As we know, USD/IDR has a positive correlation with the JSX indices which are influenced by the Dow, Nikkei, Hangsheng, Strait Times indices. Today this currency has a good strength momentum to 11.380 (low), but after the 11.380 level, the USD/IDR going back to 11.635 again, and at the Daily Charts Candle, it has already made a hanging man formation. This situation happened because the Indonesian stock market has already a technical issue and getting down into the red zone. As we know, since February 17, 2014 many capital inflow have already come to Indonesia especially in the Money Market, and it is normal if this currency has a little pullback. As long the USD/IDR does not breach and close above 11.692.45, this currency will play between the 38.2% to 61.8% Fibonacci area's (11.692.45 - 11332.55); otherwise if they can breach and close bellow 11.332.55, it will have a chance to go down to the 78.6% (11.076.35) level.

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**InstaForex Gertrude** · 27-02-14, 10:37

EUR/AUD intraday technical levels and trading recommendations for February 27, 2014

The EUR/AUD pair initiated a downside movement on January 24. This movement is maintained within the depicted bearish channel. On February 13, the bulls expressed a bullish breakout above the upper limit indicating weakness of the ongoing bearish momentum. Simultaneously, the bulls established an inverted Head and Shoulders pattern off 1.5000. The neckline is roughly located at 1.5265. Confirmation of bullish reversal is evident with Four-Hour fixation above the price level of 1.5265. However, the pair consolidated below 1.5265 for a few hours before the bulls pushed again above it. Projection target of this confirmed reversal pattern is located at 1.5525 as long as neckline 1.5265-1.5200 remains defended by the bulls (our stop loss levels). Breakout above 1.5370 is essential to pursue further bullish targets of the Head and shoulders pattern. On the other hand, consolidation below 1.5200 threatens our bullish view hindering further bullish progression allowing a sideway movement to take place between 1.5265 and 1.5080.

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**InstaForex Gertrude** · 28-02-14, 09:46

Technical analysis of EUR/JPY for February 28, 2014

Technical outlook and chart setups:
1. The EUR/JPY pair loos to have for
med a lower top around 141.00 region. Prices are pushing lower below 139.00 and hence recommendations are to hold short positions taken earlier. Risk remains at 143.00.
2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are spread through 136.20/30 (intermediary), followed by 134.00/135.00, 131.00 and lower respectively.
3. The structure reveals that bears are in control below 143.00. Prices should continue to drift lower towards 135.00/136.00 and subsequently towards 132.00.

Trading recommendations:
Remain short, set stop at 143.50, target is open.

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**InstaForex Gertrude** · 04-03-14, 10:20

Technical analysis of USD/CHF for March 04, 2014

The USD/CHF'sdownward movement from 0.9081 extended to as low as 0.8777. Further declinecould be expected after a minor consolidation, and the next target would be at the 0.8700 area. In the hourly chart, thepair is holding above the moving averages that is a bullish view. Theimmediate resistance is at the level of 0.8864 on the intraday basis. Until the priceholds the support at 0.8818, we can expect some pullback. If the price breaks it,next support will be at 0.8792 and 0.8777.

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**InstaForex Gertrude** · 06-03-14, 10:47

Technical analysis of Gold for March 06, 2014

Technical outlook and chart setups:
1. The metal remains unchanged after producing an engulfing bearish candle earlier. Currently trading at $1,337.00/38, Gold is expected to rally through the $1,345.00/50.00 region today before reversing lower. It is recommended to remain short and also look to add further at above levels. Risk remains at $1,359.50/61.00.
2. Immediate resistance is at $1,355.00 (intermediary), followed by $1,361.00 and $1,375.00, while supports are spread through $1,320.00, followed by $1,280.00/85.00, $1,230.00/40.00 and lower respectively.
3. The structure indicated that Gold should be headed lower after an engulfing bearish candle appearance. $1,240.00/50 remains level of interest.
Trading recommendations:
Remain short, stop at $1,362.50, target open.

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**InstaForex Gertrude** · 07-03-14, 10:48

Analysis of USDX for March 07, 2014

The ADP report out of the US delivered a drastic blow to bullish expectations for a positive NFP report in February. December and January showed the US labor market which is not nearly as strong as many have anticipated. Economists expect that 150,000 jobs were added last month, up from only 113,000 jobs added in January. The US economy appears to be much weaker than expected and yesterday's ADP report suggests that today's NFP report will print the third consecutive disappointment. If the same thing happens, the US Federal Reserve may have to adjust its tapering due to economic weakness in the US. It would send conflicting signals to forex traders, and USD is likely to violent swing with more downward, sell off sharply with heavy volume. Technical view- The US dollar is trading below the moving average's and hammered towards the October 2013 low at $79. The US dollar made a double top at the end of January 2014, and kept on correcting itself. It was unable to move above the 50SMA. In the H4 and hourly charts, RSI is under an oversold condition, expecting a pullback with the previous support at 79.0. A break below the 79.0 mark will push it up to 78.6, 77.0, and 75.75.

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**InstaForex Gertrude** · 10-03-14, 10:01

Technical analysis of AUD/USD for March 10, 2014

The pair is reaching the major resistance zone 0.9152-0.9166. On Friday's trading session the price broke the resistance level 0.9080 and made high at 0.9133. In the Asia's trading session, the pair is trading at 0.9058, coming back and trading below the previous resistance level 0.9080. Currently the pair looks attractive for buying only if it trades above this level for the targets 0.9122, 0.9166, 0.92 and 0.9256. On the downside 0.8972 and 0.8923 is the strong support. Break below 0.8923 looks weak and could fall up to 0.8730, 0.8693 and 0.8659.

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**InstaForex Gertrude** · 12-03-14, 10:22

Technical analysis of EUR/USD for March 12, 2014

The EUR/USD pair stays above the 21EMA level in 4-hour chart, and remains in uptrend from 1.3477. The uptrend could be expected to continue after a minor consolidation, and the next target would be at 1.4000 area. Initial support is at 1.3825, and the key support is at the trend line, only a clear break below the trend line support could signal the completion of theuptrend. In the H4 chart, oscillators are giving a sell indication. We could expect the price to fall before it moves further. If the price breaks below the level 1.38509, it will fall up to 1.3834 1.38232 and 1.3799. More downside only below 1.3799 towards 1.3718.
Recommendations- Sell below 1.38509 targets1.3834, 1.3823, 1.3799 and 1.3718
Buy above 1.3877 targets 1.3898, 1.3915 and 1.40(above 1.3910 only further up move).

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**InstaForex Gertrude** · 13-03-14, 11:01

Technical analysis of EUR/USD for Mach 13, 2014

EUR/USD remains in uptrend from 1.3477, the fall from 1.3915 could be treated as consolidation of the uptrend. Key support is at the upward trend line in 4-hour chart. As long as the trend line support holds, the uptrend could be expected to resume, and the next target would be in the 1.4000 area. Only a clear break below the trend line support could signal the completion of the uptrend. In the daily chart, the pair was facing stiff resistance at the level of 1.3915. The next up move happens only above the level of 1.3915 for 1.40. During yesterday's trading session, we recommended a buy call above the level of 1.3877 with targets at 1.3898, 1.3915, and 1.40. We are waiting for the final target. On the downside, a move below the level of 1.3880, the price will fall to 1.3860, 1.3833, 1.3812, and 1.3782 (intraday). A fresh breakout is only above 1.3964 for 1.40 and 1.4171. Intraday recommendation-
Buy above 1.3915 with targets at 1.3664 and 1.40.
Sell below 1.3880 with targets at 1.3860, 1.3833, 1.3812, and 1.3782.

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**InstaForex Gertrude** · 14-03-14, 10:49

Technical analysis of AUD/USD for March 14, 2014

The pair has been trying to cross the resistance level of 0.9085. If the pair closes above the level of 0.9085, then we can see a huge momentum upside towards the targets at 0.9205, 0.9246, 0.9450, and 0.9516. The pair did multiple attempts to cross the 0.9085 level from its daily high made on January 13, 2014. It succeeded three times, but was unable to close above that level. On the down side, 0.8992, 0.8977, and 0.8929 are the strong support zones. A move below the level of 0.8890 will lead to a fall towards 0.8730, 0.8693, and 0.8660. The daily momentum indicators show a buy signal.

Positional
S1 0.8992 R1 0.9085
S2 0.8890 R2 0.9205
S3 0.0.8693 R3 0.9246

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**InstaForex Gertrude** · 17-03-14, 11:04

Technical analysis of EUR/JPY for March 17, 2014

Technical outlook and chart setups:
1. The EUR/JPY pair seems to be bouncing off right from the trend line support as seen here. Please note that this region is also the past resistance turned support area. It is recommended to book profits from short positions taken earlier. Aggressive trade setup would be to go long again, risk remains below 140.00.
2. Immediate support is at 138.50/136.50 (intermediary), followed by 134.00, 131.00 and lower, while resistance is at 144.00 (intermediary), followed by 145.50 respectively. 3. The structure reveals that a bullish bounce here, would bring back control with bulls again and prices should rally back towards fresh highs.
Trading recommendations:
Book profits on short positions. Initiate longs now (141.05), set stop below 140.00, target is open.

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**InstaForex Gertrude** · 18-03-14, 11:18

Technical analysis of USDX for March 18, 2014

The US dollar index is trading in a weak trend. The pair is in a consolidation phase with strong support between 79.27 and 79.0. The RSI gives positive divergence indications in the hourly chart. A move below the 79 mark leads to more dramatic fall in coming days. On the upside, a move above the 79.70-79.87 area will attract buying bids. If the price crosses the 79.87, a buy call will generate towards the 80.12, 80.40, and 80.75 levels. In the daily chart, RSI is at a buying level. If any dramatic fall happens, it leads to oversold and a pullback will be expected in the near term. On the downside, if the price breaks the 79 mark, it will drift to 78.90 and 78.6 immediately. Buying is the best strategy in the near term.

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**InstaForex Gertrude** · 19-03-14, 10:09

Technical analysis of EUR/USD for March 19, 2014

The euro has risen in what could turn out to be an ending pattern. Based on the wave count below, we are in wave c of E up with the upper line at 1.396. Will it stop there or not? Will it take a European intervention to stop it? The Dollar index broke below the 79.5 mark, consolidating near the lowest levels. A break below the recent lows showing continued weakness in the dollar is going on. If the dollar goes into a collapse, trillions of the US dollars will start flowing out into other markets, then I am not sure what it will look like. 1.396 is going to be an important level. In Asia, the pair is trading at 1.3928. The pair is holding above the 21EMA in H4 chart. On the downside, support exists at 1.3910, 1.3891, 1.3862, and 1.3833. If the pair breaks the 1.3833 levels, it will drift to 1.3707. We can expect a strong reversal to happen at the level between 1.3845 and 1.3833. On the up side, if the pair trades above the 1.3966 level, we will see 1.4 and 1.41 levels.

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**InstaForex Gertrude** · 20-03-14, 10:02

Technical analysis of EUR/USD for March 20, 2014

EUR/USD is trading near key support at the level of 21EMA at 1.3816. Today in Asia, the pair has broken the level and made a low at 1.3814 as of now. As we recommended earlier, hold shorts until the pair crosses the level of 1.396. In the daily chart, the RSI is showing a sell sign. For today, trading perspective at 1.3803 is the key level, if the pair holds this level, we will see some pullback from the current level.
On the upside, 1.3893 and 1.3945 is the major resistance level fon a hourly basis. In the H4 chart, RSI is in oversold condition, we can see some pullback. On the downside, if the pair breaks the level of 1.3803 it will drift towards 1.3774 1.3708, and 1.3643.

Recommendation

- 1.3803 is the key level.

Intraday Buy with sl 1.3773 for targets at 1.3899, 1.3945.

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**InstaForex Gertrude** · 25-03-14, 09:24

Technical analysis of USD/CAD for March 25, 2014

USDCAD broke above the prior 1.1224 high and reached as high as 1.1279, indicating that the uptrend from 1.0182 has resumed. Further rise could be expected, and the next target would be in the 1.1500 area. Key support is at the upward trend line in the daily chart, only a clear break below the trend line support could signal the completion of the uptrend.
On an intraday basis, the pair has support at 1.1180 and 1.1149. Whereas 1.1149 is the major support; if it breaks, we will see the 1.1083 level.
S1 1.1180 R1 1.1205
S2 1.1149 R2 1.1246
S3 1.1083 R3 1.1279

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**InstaForex Gertrude** · 26-03-14, 09:44

Technical analysis of USD/JPY for March 26, 2014

The USD/JPY moved sideways in a narrow range between 102.01 and 102.50. Resistance is at 102.50, a break above this level will trigger another rise to test the 103.76 resistance. Support is at 102.01, a break down below this level will signal completion of the uptrend from 101.20, then the following downward movement could bring the price to the 100 and 98.00 zone.

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