Instaforex Analysis

**InstaForex Gertrude** · 09-12-13, 11:20

Elliott wave analysis of EUR/NZD for December 9, 2013

Today's Support and Resistance levels:
R3: 1.6688
R2: 1.6601
R1: 1.6556
Current Spot: 1.6521
S1: 1.6470
S2: 1.6454
S3: 1.6443

Technical summary:
We did not expect an expanding flat correction to develop, but as long as important support at 1.6443 stays untouched, we will be looking for a break above 1.6556 and more importantly a break above 1.6750 confirming a new powerful rally higher. However, a break below 1.6443 will be a game changer and call for a new decline towards 1.5900 and likely even below. In the short term we would like to see support in the 1.6500-1.6510 zone protecting the downside for a rally above 1.6556 indicating that we have seen the expanding flat correction end at 1.6470.

Trading recommendation:
To our suprise, our stop at 1.6520 was hit, but we will re-buy EUR here at 1.6521 with a stop + reverse at 1.6440.

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**InstaForex Gertrude** · 10-12-13, 09:11

Elliott wave analysis of EUR/NZD for December 10, 2013

Today's Support and Resistance levels:
R3: 1.6750
R2: 1.6688
R1: 1.6615
Current Spot: 1.6586
S1: 1.6550
S2: 1.6508
S2: 1.6470

Technical summary:
We have seen the expected rally above minor resistance at 1.6556 indicating that green wave ii ended at 1.6470 and that green wave iii is developing. In the short term we would like to see support at 1.6550 protecting the downside for a break above 1.6615 and more importantly a break above 1.6750, which will confirm that green wave iii is indeed developing for a rally towards at least 1.7239 and likely even higher. Only a break below 1.6470 will be of concern and could add considerable downside pressure.

Trading recommendation:
Stay long from 1.6520 with a stop at 1.6465. If you are not long in EUR yet, then buy after a break above 1.6615 with the same stop at 1.6465.

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**InstaForex Gertrude** · 11-12-13, 09:07

Gold: bulls prevail

After a good rally, gold halted near the resistance zone. Yesterday, the market was prevailed by bulls. We penned a positive divergence in charts, hence it came true. Thanks to all the bull bidders and to the indicators. For today's trading session gold levels are following:
NEAR TERM - 1 278 strong resistance.
INTRA VIEW - Above 1,268 only upward moves.
Resistance 1,268, 1,278, 1,290, 1,295.
Support 1,255, 1,247, 1,240, 1,237.
A close above 1,295 brings more bullish sentiment. In case of a close below 1,237, bears take control. Important levels are 1,215, 1,210, CMP 1,257.

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**InstaForex Gertrude** · 12-12-13, 09:54

Gold short betting was increased

Short betting was increased in yellow metal couple of times and longs slipped. Gold lost almost 25% year to date from its 2011 peaks. Speculations increases as the Fed date comes closer. Expectations of Fed tampering of its purchasing program makes gold move southward.
Dip buying and the weakness in USD makes gold fly higher. Gold holdings with SPDR ETF were unchanged at 835.705 tonnes.
In the tech view gold is holding its June lows around 1,180. That day gold opened at 1,200 and managed to close at higher levels, but it hit a low at 1,180. For the last few days, gold managed to hold 1,210 levels and moved towards resistance levels. We can see 1,200 levels as a floor price.
Resistance: 1,268, 1,278.
Support: 1,247, 1,240, 1,233.
Close above 1,278, then the bulls dominate in the short term, until gold trades in tight zones. Cmp 1,254.

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**InstaForex Gertrude** · 16-12-13, 09:35

USD/JPY intraday technical levels for December 16, 2013

During the FOMC meeting, the market participants will be cautious about opening positions, this issue will make the market move in a ranging situation before the FOMC meeting; Japan today will release some data like Tankan Manufacturing Index, Tankan Non-Manufacturing Index; and the US will only release some news such as US-Flash Manufacturing PMI, US-TIC Long-Term Purchases, US-Industrial Production m/m, so today the USD/JPY will move with low to medium volatility.

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 103.48.
Resistance. 2 : 103.28.
Resistance. 1 : 103.08.
Support. 1 : 102.83.
Support. 2 : 102.63.
Support. 3 : 102.42.

DESCRIPTION:
Please, pay attention to the levels of support 3 (102.42) and resistance 3 (103.48). 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** · 17-12-13, 10:37

Exxon yearly breakout channel

Exxon Mobil shows a good rally from the October low at 84.84. It has moved all the way to 98.8. Indicators are overbought slightly. It has broken up yearly trendline. I could expect Exxon to move much more higher to levels around 103. Monthly charts are showing bigger targets. Before an upward movement, it should make some correction and consolidation to move higher.
Support 96.6 94.5 94.2

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**InstaForex Gertrude** · 18-12-13, 10:31

AUD/USD analysis for December 18, 2013

AUD/USD Elliott Wave
For the last few days, the AUD/USD pair has been trading downwards, impulsive wave 5 (coloured blue) of the bigger wave 1 (coloured green) has been developing. Yesterday, during the Asian and European session we could observe descending 0.8957 towards the 0.8881 level and we can consider this as the end of the 1 wave (coloured green). Therefore, during the New York session, this commodity pair did not manage to hold this level and the price has retraced back to 0.8927 level. At the moment, the USD/CAD pair is trading around 0.8927 level and we are expecting to see more upward movements in the next few days. In accordance with our wave rules and taking into account that wave 2 should retrace 50% of wave 1 we can define the potential targets with measuring wave 1 with take profit at 0.9316 (50% of wave 1). To reduce the risk, we can use invalidation point at 0.8880 level as stop loss.

Support and resistance
(S3) 0.8792 (S2) 0.8837 (S1) 0.8868 (PP) 0.8913 (R1) 0.8944 (R2) 0.8989 (R3) 0.9020

Trading forecast
Proceeding from Elliot Wave rules today, the trend is expected to begin the upwards movements. That is why long position at level 0.8950 with stop loss at 0.8880 and take profit at 0.9316 are recommended.

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**InstaForex Gertrude** · 19-12-13, 10:38

USD/CAD analysis for December 19, 2013

USD/CAD Elliott Wave
For the last few days the USD/CAD pair has been trading upwards, impulsive wave .iii (coloured black) of the bigger wave iii (coloured blue) has been developing. Yesterday, during the Asian and European session we could observe strong ascending movement from 1.0600 towards 1.0669 level. Therefore, during the New York session this commodity pair has continued trading in a bullish mood and the price reached a new sessions high at 1.0718 level. At the moment the USD/CAD pair is trading around 1.0722 level and we are expecting to see more upwards movements in the final (5) wave.In accordance with our wave rules and taking into account that wave 5 should retrace 61.8% of wave 4 we can define the potential targets with measuring wave 3 with take profit at 1.0797 (61.8% of wave 4). To reduce the risk, we can use invalidation point at 1.0620 level as stop loss.

Support and Resistance
(S3) 1.0540 (S2) 1.0557 (S1) 1.0582 (PP) 1.0599 (R1) 1.0624 (R2) 1.0641 (R3) 1.0666

Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movements. That is why long positions at 1.0700 with stop loss at 1.0600 and take profit at 1.0797 are recommended.

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**InstaForex Gertrude** · 20-12-13, 11:15

Intraday technical levels for USD/JPY for December 20, 2013

Today Japan will release some data like Monetary Policy Statement; BOJ Press Conference. The US will release the US-Final GDP q/q; and Fed Chairman Nomination Vote. So there is a probability that USD/JPY will move with low to moderately volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 104.85.
Resistance. 2 : 104.65.
Resistance. 1 : 104.44.
Support. 1 : 104.18.
Support. 2 : 103.98.
Support. 3 : 103.77.

DESCRIPTION:
Please, pay attention to the levels of support 3 (103.77) and resistance 3 (104.85). 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** · 23-12-13, 11:09

GBPCHF turns from resistance between 1.47-1.4750. Hold short positions

Technical outlook and chart setups:
As expected, the currency pair has reversed from the resistance zone of 1.4700/50, producing an engulfing bearish candle. Short positions might have triggered and it is recommended to hold the same and also add on intraday rallies from here on. Risk remains at 1.4900. Resistance is at 1.4900; while support is at 1.4350, followed by 1.4200 and 1.4000 respectively. The entire structure might be unfolding as a head and shoulder reversal; where the current engulfing bearish is probable right shoulder. Extensions are pointing towards 1.4150 and 1.4000 levels respectively. Prices should remain below 1.4900 levels from here on.

Trading recommendations:
Remain short, set stop at 1.4910, target is open.

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**InstaForex Gertrude** · 26-12-13, 11:03

Technical analysis of GBP/USD for December 26, 2013

Overview:
The GBP/USD pair was not stable and the trend was not also so clear (it was tight sideways range); moreover, according to the previous events, the price has still been trapped between the level of 1.6450 and 1.6220, so be careful in this area. Therefore, it should wait for a period of tight sideways range market before breakouts. Then, it will probably that the market is going to start showing the signs of bullish market from the support at the level 1.6220. In other words, it will be a good sign to buy above 1.6220 with the first target of 1.6350 and it will climb towards 1.6450. However, If the pair does not break 1.6473, the market will indicate a bearish opportunity below the resistance that will be set at the level 1.6473. The level will be strong resistance. And probably the market will call for downtrend from the level of 1.7473 in order to continue bearish towards 1.6346 (the weekly pivot point).

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**InstaForex Gertrude** · 27-12-13, 09:52

Crude near resistance mark at $100.

Crude is holding above the 21EMA level facing stiff resistance at the level of $100. Intraday downside support is at $99 mark. Last week, I gave a buy call for $103 target, now I am extending the targets. Trades above the level $100 mark, it could fly towards $102, $104 levels.

Recommendation- Buy on dips with sl at $96 for targets at $104.

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

Dow near crucial level 2

Dow reaches its upper trend line at the level 16700. Last couple of times we mentioned that the level near 16700 is the very crucial level for Dow. Yesterday Dow hits intra high at the level of 16562 and closed at 16444 indicating triple digit loss. In the daily charts, oscillators shows negative divergence. The new year started in a negative notes for equities. Its first negative start after the year of 2008.

Support - 16,170 16,058 15,900
Resistance - 16,700
Close above 16,700, Dow will enter a new trend.
Recommendation - sell with sl 16700

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**InstaForex Gertrude** · 06-01-14, 09:51

Gold near major resistance

Gold continues its upper move after hitting the upper high at $1,182. It holds the June's low and close above the uneconomical level $1,200, which is a bull factor. In the weekly and daily charts, oscillators indicate positive divergence, hourly chart gives an overbought sign. We are still on the bearish note for the level of $1,170 and even lower.
In the hourly chart, oscillators show an overbought sign and hold above the 21 EMA at $1,232. As per daily charts, some more up move steam left before big leg down.
Resistance $1,245 $1,252 $1,268
Support $1,232 $1,220
Price closes above $1,269 on a daily basis can make further bullishness. We recommend sell on rallies until prices meet at the level of $1,100.

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**InstaForex Gertrude** · 06-01-14, 09:58

Gold near major resistance

Gold continues its upper move after hitting the upper high at $1,182. It holds the June's low and close above the uneconomical level $1,200, which is a bull factor. In the weekly and daily charts, oscillators indicate positive divergence, hourly chart gives an overbought sign. We are still on the bearish note for the level of $1,170 and even lower.
In the hourly chart, oscillators show an overbought sign and hold above the 21 EMA at $1,232. As per daily charts, some more up move steam left before big leg down.
Resistance $1,245 $1,252 $1,268
Support $1,232 $1,220
Price closes above $1,269 on a daily basis can make further bullishness. We recommend sell on rallies until prices meet at the level of $1,100.

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**InstaForex Gertrude** · 07-01-14, 09:28

Euro Little Changed Following German Retail Sales

After the release of German retail sales for November at 2:00 am ET Tuesday, the euro changed little against other major currencies.
The euro was trading at 1.3620 against the greenback, 142.22 against the yen, 0.8305 against the pound and 1.2342 against the franc around 2:03 am ET.

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**InstaForex Gertrude** · 08-01-14, 10:23

Technical analysis of EUR/USD for January 8, 2014

Overview:
The EUR/USD pair has been trading in a tight sideway range since January 6, 2013 and the price has also set below the weekly resistance 1 at the level of 1.3743, moreover the price has already formed double bottom at the 1.3571 level. Accordingly, the market will move between 61.8% of Fibonacci retracement levels (1.3743) and 00% of Fibonacci retracement at the price of 1.3571. In particular, it should noted that at the level of 1.3543 which represents the support, we can expect explosive breakout and it is likely that the market is going to start showing the signs of bullish market. In other words, it will be a good sign to buy above double bottom at the level of 1.3543 with a first target at 1.3663 in order to test the weekly pivot point and it will climb towards 1.3728. However, if the the price of the EUR/USD pair breaks 1.3543 and closes below it, the market will indicate a bearish opportunity below 1.3543 then the best location to set stop loss should be at the 1.3545 price.

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**InstaForex Gertrude** · 09-01-14, 09:30

Technical analysis Of GBP/CHF for January 09, 2014

Technical outlook and chart setups:
1. The currency pair has stopped us out at 1.4950 in the past session. As seen in the weekly chart here, a former resistance at 1.5000 has also been broken. It is recommended to remain flat for now. The 1.5150 level is into focus now.
2. The next resistance is at the 1.5150 level, while support is just below 1.4900, followed by 1.4800 and lower.
3. The structure reveals that GBP/CHF is on its way towards at least 1.5150 for now. A bearish reaction there could possibly reverse the trend. Trading recommendations:
Flat for now.

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**InstaForex Gertrude** · 10-01-14, 09:37

Daily analysis of USD/CHF for January 10, 2014

Overview:
According to the previous events, the price of the USD/CHF pair has still been movin between the levels of 0.9115 and 0.9003. In the same away, the range of the pair was around 60 pips today. Volatility was only 54,56; therefore, the market indicates lower volatility, so we expect medium volatility on January 10, 2013, because, as it is known, the market is low volatile if the last day had not huge volatility. Additionally, the level of 0.9115 has set below 78.6% of Fibonacci retracement levels and it has formed a strong resistance for that the key level of 0.9115 is represented for downtrend to confirm the bearish market. Equally important, the market was so stable and the trend was also too clear (downward). In consequence, sell deals are recommended below the 0.9115 level with targets at 0.9065 in order to test the minor support, and it will resume towards 0.9010 to attempt testing the support of the week at the 0.9003 level.

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**InstaForex Gertrude** · 13-01-14, 08:44

Weekly technical levels for GBP/USD for January 13-17, 2014

Overview:
As it is known, historic rates should be used to determine future prices. According to the previous events of the last week, the GBP/USD pair has still been moving between 1.6405 and 1.6550 for five days. It should be also noticed that the price has closed at the level of 1.6482. Expect a move to resistance 1 or back towards the weekly pivot point. Therefore, buy in the short period at the 1.6464 level with the first target of 1.6516 in order to test the last double top; futhermore, it might resume towards 1.6550. Nevertheless, it must beware because sometimes the market seems that it doesn't follow our forecast. So for getting out spank from the market before losing your profit, it will be very meaningful to set stop loss below the weekly support at 1.6360.

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