Instaforex Analysis

**InstaForex Gertrude** · 05-05-17, 10:21

Daily analysis of GBP/USD for May 05, 2017

GBP/USD managed to rebound above the 200 SMA on H1 chart amid a broad-based weakness in the US Dollar. The pair is still trapped in a range established since April 28th. Now the pair aims to test the resistance zone of 1.2957 once again. If it manages to break above that area, we can expect further advances toward the 1.3029 level.

H1 chart's resistance levels: 1.2957 / 1.3029
H1 chart's support levels: 1.2855 / 1.2652

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 1.2957, take profit is at 1.3029 and stop loss is at 1.2887.

Analysis are provided by InstaForex

**IFX Yvonne** · 08-05-17, 11:26

Technical analysis of USD/CHF for May 8, 2017

USD/CHF is under pressure as the key resistance is set at 0.9915. The pair stays below its resistance at 0.8490, and is capped by its 50-period moving average. Meanwhile, the 20-period moving average is still below the 50-period moving average, and the relative strength index is around its neutrality area at 50, lacking upward momentum.

The U.S. Labor Department reported that nonfarm payrolls increased by 211,000 in April, higher than +188,000 expected. The jobless rate edged down 0.1 percentage point to 4.4% (vs. 4.6% expected), its lowest level since May 2007.

As long as the key resistance at 0.9915 is not broken above, the risk of a break below 0.98660 remains high. A further down leg to 0.9840 and 0.9810 is also likely.

Resistance levels: 0.9930, 0.9950, and 0.9975

Support levels: 0.9860, 0.9840, and 0.9810

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**IFX Yvonne** · 10-05-17, 11:47

Ichimoku indicator analysis of Gold for May 10, 2017

Gold price continues to make lower lows and lower highs. Trend remains bearish. Gold has limited downside. I still prefer bullish positions at the current levels.

Blue lines - bearish channel

Despite being still inside the bearish channel and below both the tenkan- and kijun-sen, the RSI divergence signals that gold is just above previous lows at $1,194. I believe there are a lot of chances for a move higher at least towards the Kumo resistance at $1,250.

Red line -long-term resistance trend line

Gold price remains inside the weekly cloud but above the weekly kijun-sen. Price has held above the lower Kumo boundary and this is a positive sign. If Gold manages to make a higher low relative to the $1,194 low in March, we could expect a strong upward reversal start from around current levels.

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**IFX Yvonne** · 12-05-17, 11:35

Technical analysis of USD/CHF for May 12, 2017

USD/CHF Intraday: Bullish bias above 1.0055. The pair has bounced up from another test of support at 1.0055, which is playing a key support role, and is challenging the 20-peiord moving average. The relative strength index is turning up below its neutrality level at 50.

Economic data remained robust. The Labor Department reported that initial jobless claims declined to 236,000 for the week ended May 6 (vs. 245,000 expected), and producer prices gained 0.5% on month in April (vs. +0.2% expected).

As long as the key support at 1.0055 holds on the downside, look for a further advance toward 1.0100 and even 1.0125 in extension.

Resistance levels: 1.0100, 1.0125, and 1.0160

Support levels: 1.0020, 0.9975, and 0.9930

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**IFX Yvonne** · 15-05-17, 11:40

Fundamental Analysis of EUR/USD for May 15, 2017

EUR/USD aroused the interest of bulls on Friday after bouncing off from 1.0850 support level. EUR is currently stronger than USD in light of negative US CPI and Retail Sales reports published on Friday. Today, no economic reports are due in the eurozone, but on the USD side Empire State Manufacturing Index is expected to increase to 7.2 which previously was at 5.2. Besides, NAHB Housing Market Index is expected to be unchanged at 68. The economic reports from the US are not quite a high impact events but could bring some volatility in the market during the release. A daily close today will determine the upcoming move in the market where EUR is expected to gain ground against USD in the coming days.

Now let us look at the technical chart. The price is currently residing in the corrective area between 1.0850 and 1.0950. As of the bullish engulfing candle on Friday, the price is expected to move more up towards 1.1160 resistance level. For better confirmation, we will be looking forward for a daily close above 1.0950 for buying in this pair with a target towards 1.1160 level. On the other hand, if the price rejects off the 1.0950 with a daily candle, then we will consider sell positions with a first target towards 1.0850 and later at 1.0720 level. The bias in this pair is bullish until the price takes out 1.0850 with a daily close below it.

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**IFX Yvonne** · 16-05-17, 10:54

Technical analysis of GBP/JPY for May 16, 2017

GBP/JPY is expected to extend its upside movement. The pair recorded a succession of higher tops and higher bottoms and is holding on the upside. The rising 50-period moving average is playing a support role and maintains the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum.

As long as 146.15 holds on the downside, look for a further advance towards 147.00 and even 147.35 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 147.00 and the second one at 147.35. In the alternative scenario, short positions are recommended with the first target at 145.70 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 145.35. The pivot point is at 146.15.

Resistance levels: 147.00, 147.35, and 148.60

Support levels: 145.70,145.35, and 144.65

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