Instaforex Analysis

**InstaForex Gertrude** · 27-05-16, 09:05

Daily analysis of GBP/USD for May 27, 2016

Pair had a corrective session and it's now looking to find support around the 1.4662 level. However, overall bullish bias remains untouched, as the Cable has been trading higher after it performed rebounds above the 200 SMA, which is our path of the current trend. A breakout above the 1.4723 level could push the GBP/USD towards the 1.4800 psychological zone.

H1 chart's resistance levels: 1.4692 / 1.4723
H1 chart's support levels: 1.4662 / 1.4604

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 1.4692, take profit is at 1.4723, and stop loss is at 1.4661.

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**InstaForex Gertrude** · 01-06-16, 09:25

Technical analysis of GBP/CHF for June 01, 2016

Technical outlook and chart setups:
The GBP/CHF pair is seen to be trading at at 1.4390 levels at this moment after reversing sharply from 1.4600 levels yesterday. Please note that the rally that begun from 1.3400 levels looks to be complete at 1.4600 levels using the principle of equality. But according to the channeling technique, maybe another high can be seen around 1.4700 levels as depicted here. Also note that fibonacci 0.618 resistance is also seen there, and hence a bearish bounce remains a high probability. Hence it is recommended to take profit on short positions taken earlier and remain flat for now. Immediate resistance is seen at 1.4600 levels, while support is seen at 1.4300 levels respectively.

Trading recommendations:
Please take profits on short positions taken earlier. Remain flat for now. Good luck!

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**InstaForex Gertrude** · 02-06-16, 09:24

Technical analysis of Silver for June 02, 2016

Technical outlook and chart setups:
Silver is seen to be trading at $15.97 levels for now after bouncing off $15.81 levels yesterday. The metal now seems to have formed an intermediary low at $15.81 levels and is looking to rally from here. Please note that the metal has bounced off the fibonacci support/convergence around $15.80/16.00 levels as depicted here. Also note that the past resistance turned support is also passing through the same region. A bullish turn around from here remains a high probability, and hence the recommendation is to remain long now, with risk below $15.50 levels. Immediate support is seen at $15.80 levels, while resistance is at $16.55 levels respectively.

Trading recommendations:
Remain long, stop below $15.50 levels, target is open.

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

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, 09:15

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, 09:25

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, 08:13

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, 08:36

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** · 14-06-16, 08:32

Technical analysis of NZD/USD for June 14, 2016

NZD/USD is expected to trade in a lower range as the bias remains bullish. The pair failed to break above its horizontal resistance and overlap at 0.7080 after having tested it for at least two times yesterday. Meanwhile, a bearish cross has been identified between the 20-period and 50-period moving averages (a negative signal). Last but not least, the relative strength index is capped by a descending trend line. To conclude, a break below 0.6980 would trigger a new pullback towards 0.6940.

Trading recommendations:
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 0.6980. A break of this target will move the pair further downwards to 0.6940. The pivot point stands at 0.7080. In case 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 0.7120 and the second one at 0.7150.

Resistance levels: 0.7120, 0.7150, 0.7185
Support levels: 0.6980, 0.6940, 0.69

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**InstaForex Gertrude** · 15-06-16, 08:42

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, 09:09

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, 08:45

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, 09:24

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, 09:10

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, 09:16

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, 08:51

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, 08:28

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, 08:51

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, 08:25

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** · 01-07-16, 08:38

Technical analysis of USD/CHF for July 01, 2016

USD/CHF is expected to trade with a bearish bias as key resistance is at 0.9800. The pair failed to break above its horizontal resistance and overlap at 0.9800 after having tested it for at least two times yesterday. Meanwhile, both the 20-period and 50-period moving averages are heading downward. In addition, the relative strength index lacks upward momentum. In conclusion, as long as 0.9800 holds on the upside, the pair is likely to return to 0.9725, and then to 0.9690. Alternatively, only a break above 0.9800 would call for a new rise to 0.9840 and 0.9900 as targets.

Resistance levels: 0.9840, 0.9900, 0.9945
Support levels: 0.9725, 0.9725, 0.9660

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