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#1 » by instaforexbuk (736βCoins) » June 27th, 2016, 2:12 pm


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Me and my colleagues are going to provide you with the latest analysis reviews. Please, follow our analysis and you will be informed about Forex. Hope, our reviews will help you to increase the efficiency of your trading.

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#2 » by instaforexbuk (736βCoins) » June 30th, 2016, 11:11 am

[colorTechnical analysis of USDX for June 30, 2016 =#BF0000][/color]

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The Dollar index continues to trade inside the consolidation range and inside the pennant formation. The trend is neutral for the short term, but I expect an upward breakout towards 99 over the coming weeks.

Black lines - pennant formation

The Dollar index is trading above the Kumo on the 4 hour chart with the stochastic oversold and turning upwards. I expect some Dollar strength to be seen in the market soon. Support is at 95.60 and resistance at 96.30.

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The weekly candle is getting weaker and is testing the lower cloud boundary support. This pullback is justified after the gap-up open on Monday, and I believe that only partially will the gap be filled, and the prices will reverse to the upside soon for the Dollar index.

Read more: https://www.instaforex.com/forex_analysis/78271/


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#3 » by instaforexbuk (736βCoins) » July 1st, 2016, 9:54 am

Technical analysis of Gold for July 1, 2016
Gold has broken out of the triangle consolidation and is making higher highs and higher lows. The price is heading at least towards the $1,360 high with expectations of breaking it and reaching $1,400 by the end of next week.
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Black lines - triangle pattern (broken)
Gold continues to trade above the Ichimoku cloud and, as we said yesterday, the price formation was impulsive and a breakout was very near. Short-term support is at $1,313. Resistance is at $1,340 and next at $1,360. I'm bullish in Gold.
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Red lines - expanding triangle

Gold is above the weekly cloud and is approaching post-Brexit levels. I continue to be bullish expecting to see $1,400 by next week. Gold has made a long-term low at $1,045, and I believe we are witnessing the early stages of a bullish long-term reversal.

Read more: https://www.instaforex.com/forex_analysis/78325/


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#4 » by instaforexbuk (736βCoins) » July 4th, 2016, 10:17 am

Technical analysis of USD/CAD fo July 4, 2016

General overview for 04/07/2016

The corrective cycle to the downside is still in progress and there is one more wave needed to complete the pattern. The projected target for wave c of the wave (ii) is at the level of 1.2788, so the market should rebound from this zone. Please notice, that the level of 1.2676 is the line in the sand for the impulsive structure and it can not be violated.
Support/Resistance:
1.2676 - Invalidation Level
1.2698 - WS2
1.2788 - WS1
1.2858 - Intraday Support
1.2927 - Intraday Resistance
1.2952 - Weekly Pivot
1.3045 - WR1
1.3118 - Wave (i) Top

Trading recommendations:

Day traders should consider opening buy orders at the level of 1.2788, with SL below the level of 1.2676 and TP open for now. The reason for this trade is that the market should rebound and the uptrend should continue soon.

Read more: https://www.instaforex.com/forex_analysis/78379/

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#5 » by instaforexbuk (736βCoins) » July 8th, 2016, 10:37 am

Technical analysis of USDX for July 8, 2016

The Dollar index is sliding lower on top of the broken trend line resistance waiting for the announcement of the Non-Farm Payrolls today that will greatly influence the balance between bulls and bears.

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Black line- resistance trend line (broken)

The Dollar index continues to trade above the 4 hour Kumo (cloud) and the black trend line resistance that is broken. A backtest is in play and I expect the NFP numbers today to provide a good excuse for the Dollar to rally higher as the technical setup suggests.

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Red line - long-term resistance (broken)
The weekly candle is entering the Ichimoku cloud and a close inside it will provide a bullish signal and a possible target of reaching the upper cloud boundary in the next few weeks. Support is at 94.90. Trend favors bulls. Traders with no positions should be patient and wait to act after the announcement of the NFP numbers today.


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#6 » by instaforexbuk (736βCoins) » July 11th, 2016, 10:51 am

Technical analysis of USDX for July 11, 2016

As expected the US dollar index made an upward move above 96 strengthened by the better than expected NFP numbers. The technical view of the index favored the bullish side and that was what the market delivered.

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Black line - resistance Trend line (broken)

The dollar index successfully broke and back tested the black trend line resistance and is now trying to break above the highs of 96.70 in order to continue towards 99-100. The trend is bullish for the short-term and medium-term. The short-term support is at 96. Resistance is at 96.70.

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Last week's candle entered the weekly Kumo and closed also above the weekly kijun-sen (yellow line indicator). The trend is bullish and with higher highs and higher lows on a weekly basis we can say that the bullish scenario is being favored for a bigger bullish move to new highs. Critical support for this scenario will remain valid is the 93 price level.


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Read more: https://www.instaforex.com/forex_analysis/78651/


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#7 » by instaforexbuk (736βCoins) » July 12th, 2016, 11:11 am

Daily analysis of major pairs for July 12, 2016

EUR/USD: This pair moved essentially sideways yesterday, but the bias remains bearish. There is a need for the price to go above the resistance line at 1.1400, before it can be said that bulls have begun to reign in this market. There could be some serious bullish attempts this week, but they would not be able to push the price beyond the resistance line at 1.1400.

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USD/CHF: This market is yet to go above the resistance level at 0.9850. Bulls might also be able to target the resistance level at 0.9000. Nonetheless, there are two obstacles along the way, which is the expected stamina in CHF this month, coupled with the possibility that USD could also lose strength this week or next.


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GBP/USD: GBP/USD only moved sideways on Monday – in the context of a dominant bearish outlook. We could see a strong rally in the context of a downtrend this week. The expected rally would not be strong enough to push the price beyond the high of June 23, 2016. The bearish movement appears to have thinned out in the short term.

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USD/JPY: This currency trading instrument went upwards 250 pips on July 11, 2016. With an additional bullish movement of 300 pips, the bias would turn bullish, and there would have been a Bullish Confirmation Pattern in the market by then. However, there is still a possibility of a bearish movement this week.

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EUR/JPY: This cross also went upwards by 250 pips yesterday, but the bias remains bearish. A movement of another 300 pips to the upside would result in a clear bullish signal in the market. However, there is also a possibility of further bearish movement before the end of the week.

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#8 » by instaforexbuk (736βCoins) » July 13th, 2016, 9:15 am

Technical analysis of USDX for July 13, 2016

The US dollar index held above the short-term support at 96.10 and is retesting previous highs. Price is mainly moving sideways in the short-term and we should focus on 96 and 96.70 levels for a breakout.
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Blue line - trend line support

The Dollar index is above the 4-hour Kumo (cloud) and above the blue trend line support. The short-term support below 96.10 is at 95.90. Resistance remains at 96.70.
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The weekly candle entered the weekly Kumo once again and remains above the weekly kijun-sen. The trend remains bullish on the weekly chart with the potential of moving towards the upper cloud boundary near 97.50 even this week. As long as the price is above 93 the longer-term view remains bullish. A rejection at the weekly cloud and move below it will open the way for a pullback towards the red trend line that was once resistance.

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#9 » by Guest (0βCoins) » July 14th, 2016, 10:40 am

Global macro overview for 14/07/2016

The Crude Oil Inventories data published yesterday revealed lower than expected drawdown in stockpiles. Market participants had expected the inventories drain of -3,250K barrels that is more than -2,223K barrels a month ago, but the number of the stockpiles turned out to be at the level of -2,546K barrels. Moreover, in the interview in German newspaper Handelsblatt, the newly appointed Saudi energy minister Khalid al-Falih, said that the oil industry needs a price of more than $50 per barrel to sustain investments. Moreover, he added that the price above the $100 is too high and below $50 is too low to sustain investment, so the market should find the balance point somewhere in between. He also noticed a decrease in supply by roughly 1million barrels per day mainly due to the output drops in the United States and Canada. Let's now take a look at the crude oil technical picture in the 4H time frame. Since the top at the level of 51.66, the market is posting a consecutive series of lower highs and lower lows, indicating that a corrective downtrend is still in progress. Currently, the price reversed down again after hitting the 100-period moving average at the level of 46.95 and it is heading to test the technical support at the level of 44.42 again. The double bottom formation is possible here.


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#10 » by instaforexbuk (736βCoins) » July 15th, 2016, 9:52 am

Technical analysis of USDX for July 15, 2016


The US dollar index continues sliding lower but still it is inside a sideways neutral channel. As long as the price is below 96.70 short trades are preferred and only near 94.80 we would start looking for buying opportunities unless we see a breakout.

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Blue lines -neutral short-term channel

Red lines - bullish channel

The dollar index has been making higher highs and higher lows since late April. Bulls need to see the breakout of the index above the upper red channel boundary in order to have confirmation of the uptrend towards new highs. A break below the red lower boundary will be a bearish sign that will push the index even below 92-91 level.

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The weekly candle in the dollar index is promising for bears not bulls. The price is getting rejected by the weekly Kumo (cloud) and is testing the weekly Kijun-sen (yellow line indicator). If this weekly candle closes below 95.80 we should expect more downside next week. Strong resistance is at 96.70 and if we break it, we should expect a push higher towards 97.70 at least.

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Read more: https://www.instaforex.com/forex_analysis/78878/


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#11 » by instaforexbuk (736βCoins) » July 18th, 2016, 10:38 am

Technical analysis of USD/JPY for July 18, 2016


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USD/JPY is expected to trade with bullish bias. The pair gapped up at today's open, breaking above the key resistance at 105.10 and turning the intraday outlook bullish. Currently, the pair is trading around the 20-period (30-minute chart) moving average. Meanwhile, the intraday relative strength index landed on the neutrality level of 50, showing a lack of downward momentum for the pair. As long as the level at 105.10 (around the low of July 15) holds as the key support, the pair could retest the first upside target at 106.30 (around the high of July 15).

Market Commentary :
On Friday, the Dow Jones Industrial Average added 10 points to another record-high of 18,516, extending a streak of the record closing-levels to 4 straight sessions.
On the other hand, the S&P 500 declined 0.1% to 2,161 after marking fresh all-time highs in the prior four sessions.
The Nasdaq Composite was also down 0.1% to 5,029. Materials and utilities shares advanced, while consumer discretionary, financial, and technology shares declined. European stocks were broadly lower, with the STOXX Europe 600 falling 0.2%. Meanwhile, the U.K.'s FTSE 100 gained 0.2%. On the economic front, in the US, retail sales grew 0.6% month-on-month in June (vs. +0.1% expected), CPI rose 0.2% month-on-month (vs. +0.3% expected) and 1.0% year-on-year (vs. +1.1% expected) in June, industrial production increased 0.6% month-on-month in June (vs. +0.3% expected), the New York Fed's Empire Manufacturing Index posted 0.55 in July (vs. 5.00 expected), and the University of Michigan Consumer Sentiment Index was at 89.5 in July (vs. 93.5 expected).
The benchmark US 10-year Treasury yield rose to 1.597% from 1.529% on Thursday. Nymex crude oil climbed 0.6% to $45.95 a barrel. Gold edged up 0.2% to $1,337 an ounce (one-day low at $1,322), while silver slid 0.5% to $20.20 an ounce (one-day low at $19.96). On forex trading, the US dollar firmed up against most major currencies. GBP/USD plunged 1.1% to 1.3191 (a day high at 1.3480) after Bank of England Chief Economist Andrew Haldane pointed out that the central bank should come up with a package of monetary policy easing measures in its rate-setting meeting on August 4.
EUR/USD fell 0.8% to 1.1034 (intraday day high at 1.1148), while USD/JPY was down 0.5% to 104.83. As a result ,the ICE Dollar Index gained 0.5% to 96.58.
Commodities-linked currencies were broadly weaker against the greenback. The Canadian dollar halted a 3-day winning streak with USD/CAD rebounding 0.6% to 1.2968. AUD/USD fell 0.7% to 0.7577. NZD/USD plunged 1.2% to 0.7109, losing a total of 2.6% or 186 pips in a 3-day losing streak.

Recommendations:

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 106.30 and the second one, at 107.00. In the alternative scenario, short positions are recommended with the first target at 104.60 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 103.90. The pivot point is at 105.10.
Resistance levels: 106.30, 107.00, 107.45
Support levels: 104.60, 103.90, 103

Read more: https://www.instaforex.com/forex_analysis/78938/


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#12 » by instaforexbuk (736βCoins) » July 19th, 2016, 9:11 am

Technical analysis of Gold for July 19, 2016

Gold is consolidating above the $1,325 short-term support area in a triangle pattern. The price remains inside the medium-term bullish channel but a final downward move towards $1,310 cannot be ruled out before a bigger bounce higher towards at least $1,350.

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Red lines - triangle pattern

Gold has been moving sideways for the last few sessions between $1,320 and $1,350. The trading range has become tighter. The upper triangle boundary is at $1,334 and the lower boundary, at $1,324. The price remains below the 4-hour Kumo (cloud), and this increases the chances of a downward break of the triangle.


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Red lines - bullish channel

The upward moving red channel remains intact and the price stays above the daily Kumo (cloud). There are several bearish divergence signs by the oscillators that increase the chances of a bounce but with a lower high and then a deeper correction lower below $1,300. Gold is in a corrective phase. The price could even move below $1,250 over the coming months before resuming its upward trend.

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Read more: https://www.instaforex.com/forex_analysis/78992/


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#13 » by instaforexbuk (736βCoins) » July 20th, 2016, 11:24 am

Technical analysis of USD/CAD for July 20, 2016 \

General overview for 20/07/2016:

As anticipated yesterday, the 61% Fibo at the level of 1.3032 has been hit and the top for the wave (b) looks to be in place now. Currently, the market should start to develop another wave to the downside and any violation of the level of 1.3011 will be the first clue that the wave (c) is in progress.

Support/Resistance:

1.2087 - WS1

1.2972 - Weekly Pivot

1.3011 - Intraday Support

1.3035 - 61% Fibo

1.3053 - Intraday Resistnace

1.3085 - WR1

1.3138 - Local High

Trading recommendations:

Day traders should consider opening sell orders from the level of 1.3035 with tight SL and TP open for now. The reason for the trade is wave (c) to the downside anticipation.
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Read more: https://www.instaforex.com/forex_analysis/79044/


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#14 » by instaforexbuk (736βCoins) » July 21st, 2016, 11:23 am

EUR/USD Trading Recommendations for 21st July 2016

We see EUR/USD forming a rounding reversal pattern as a reaction to the golden ratio (62%) now. Our goal is to play the rise up to 1.1075 especially after that RSI(34) crossed above its descending resistance-turned-support line as a pre-signal of the bullish rise from here. 1.1075 is a Fibonacci retracement and also a horizontal resistance level. That is why it is our take profit level.

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Trading recommendations :

Buy now

Stop loss is at 1.0980

Take profit is at 1.1075

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Read more: https://www.instaforex.com/forex_analysis/79132/


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#15 » by instaforexbuk (736βCoins) » July 22nd, 2016, 10:31 am

Silver Technical Analysis for July 22, 2016.

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Technical outlook and chart setups:

Silver is seen to be trading higher at $19.75 levels for now, after bottoming out around $19.25 levels yesterday. The metal looks to be carving out a regular flat now, having tested $19.20/25 levels, and it should rally to produce a lower high ahead of $21.13 levels. Please note that a meaningful top is already in place at $21.13 levels, and bears would remain in control till prices stay below. The wave structure also indicates that a flat is underway, and one should find Silver turning lower from around $20.75/80 levels. It is recommended to remain flat for now and look to go short at higher levels; aggressive traders may initiate longs with risk below $19.25 levels. Immediate interim support is seen at $19.20 levels, while resistance is at $21.13 levels respectively.

Trading recommendations:

Aggressive traders may remain long, stop below $19.25. Conservative traders look to go short at $20.75/80 levels.
Good luck!

Read more: https://www.instaforex.com/forex_analysis/79166/


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#16 » by instaforexbuk (736βCoins) » July 25th, 2016, 11:20 am

Technical analysis of GBP/USD for July 25, 2016


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Overview:

The GBP/USD pair movement was controversial as it took place in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still trading between the levels of 1.3090 and 1.3239. Also, the daily resistance and support are seen at the levels of 1.3239 and 1.3090 respectively. Therefore, it is recommended to be cautious while placing orders in this area. Thus, we need to wait until the sideways channel is completed. Consequently, the first support is set at the level of 1.3090. So, the market is likely to show signs of a bullish trend around the spot of 1.3090-1.3100. In other words, buy orders are recommended above the area of 1.3090-1.3100 with the first target at the level of 1.3239. Furthermore, if the trend is able to break out through the first resistance level of 1.3239. We should see the pair climbing towards the second resistance (1.33454) to test it. Also, it should be noted that the double top is seen at the price of 1.3480. It would also be wise to consider where to place a stop loss; this should be set below the second support of 1.2998.

Read more: https://www.instaforex.com/forex_analysis/79254/


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#17 » by instaforexbuk (736βCoins) » July 26th, 2016, 11:39 am

Technical analysis of NZD/USD for July 26, 2016
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Overview:

The NZD/USD pair is showing signs of strength following a breakout of the highest level of 0.7039. On the H1 chart. the level of 0.7039 coincides with 23.6% of Fibonacci, which is expected to act as minor support today. Since the trend is above the 23.6% Fibonacci level, the market is still in an uptrend. But, major support is seen at the level of 0.7039. Furthermore, the trend is still showing strength above the moving average (100). Thus, the market is indicating a bullish opportunity above the above-mentioned support levels, for that the bullish outlook remains the same as long as the 100 EMA is heading to the upside. Therefore, strong support will be found at the level of 0.7039 providing a clear signal to buy with a target seen at 0.7093. If the trend breaks the minor resistance at 0.7093, the pair will move upwards continuing the bullish trend development to the level 0.7138 in order to test the daily resistance 2. However, if the NZD/USD pair fails to break through the resistance level of 0.71 38 today, the market will decline further to 0.7038 in order to test it again.

Read more: https://www.instaforex.com/forex_analysis/79326/


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#18 » by instaforexbuk (736βCoins) » July 27th, 2016, 2:57 pm

Technical analysis of USD/CHF for July 27, 2016

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Overview:

The USD/CHF pair broken support at the level of 0.9862, which acts as a support now. According to the previous events, the USD/CHF pair is still moving between the levels of 0.9862 and 1.0000. Therefore, we expect a range of 138 pips in coming hours. The trend is still above the 100 EMA for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside. Hence, the price spot of 0.9862 remains a significant support zone. Consequently, there is a possibility that the USD/CHF pair will move upside. The structure of climbing does not look corrective. In order to indicate a bullish opportunity above 0.9862, buy above 0.9862 with the first target at 0.9955. Besides, the weekly resistance 1 is seen at the level of 0.9955. However, traders should watch for any sign of a bullish rejection that occurs around 0.9955. The level of 0.9955 coincides with the double top. If the pair is able to break the price of 0.9955, then the market will continue moving towards the next objective at 1.0000. Moreover, since the trend is above the level of 0.9862, the market is still in an uptrend. Overall, we still prefer the bullish scenario today.

Read more: https://www.instaforex.com/forex_analysis/79391/


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#19 » by instaforexbuk (736βCoins) » July 28th, 2016, 11:22 am

Technical analysis of USDX for July 28, 2016

The Dollar index had a volatile session yesterday due to the FOMC last night. Yesterday price got rejected once again at the resistance of 97.60; it reversed and broke below 96.70 the breakout level confirming the false breakout. This is a bearish signal that will put pressure on the Dollar for at least a week.

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Black line - breakout level

Blue line - trend line support

Red lines - long-term trading range

The Dollar index is testing the 4-hour Kumo support and the trend line support. Breaking below 96.50 will be a bearish sign. In this case it will open the way for a deeper correction towards 95, at least. Resistance is at 97. We have now a confirmed false breakout and reversal. This is bearish.

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The weekly candle got rejected at the upper cloud boundary. Price is now testing the lower cloud boundary and could very easily push lower towards the weekly kijun-sen. This support is just above 95. So, the weakness that will push the dollar index towards 95 is expected as long as the price is below 97.

Read more: https://www.instaforex.com/forex_analysis/79449/


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#20 » by instaforexbuk (736βCoins) » July 29th, 2016, 3:02 pm

Technical analysis of NZD/USD for July 29, 2016

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Overview:

The NZD/USD pair broke resistance which turned to strong support at the level of 0.7037 yesterday. The level of 0.7037 is expected to act as major support today. From this point, we expect the NZD/USD pair to continue moving in a bullish trend from the support levels of 0.7037 and 0.7134. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in the bullish trending market. Today, the first support level is seen at 0.7070 followed by 0.7037, while daily resistance 1 is found at 0.7134. Besides, the level of 0.7134 represents a weekly pivot point for that it is acting as major resistance. Hence, the NZD/USD pair continues to move upwards from the level of 0.7040. Amid the previous events, the pair is still in a uptrend, because the NZD/USD pair is trading in a bullish trend from the new support line of 0.7070 towards the first resistance level at 0.7134 in order to test it. If the pair succeeds to pass through the level of 0.7134, the market will indicate a bearish opportunity below the level of 0.7177 (61.8% Fibonacci retracement). However, if a breakout happens at the support level of 0.7030, then this scenario may be invalidated.

Read more: https://www.instaforex.com/forex_analysis/79527/


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#21 » by instaforexbuk (736βCoins) » August 1st, 2016, 10:53 am

Daily analysis of major pairs for August 1, 2016

EUR/USD: This pair trended upward strongly last week, making that week see greater volatility on major pairs; unlike what happened between July 18 to 21. Price has gone upwards by 230 pips, closing above the support line at 1.1150. There is a Bullish Confirmation Pattern in the market and price is supposed to continue moving upwards, unless USD experiences a considerable amount of strength.

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USD/CHF: The USD/CHF went upwards at the beginning of last week, and almost reached the resistance level at 0.9950. From that point, price declined 300 pips, to close at 0.9635 on Friday and below the resistance level at 0.9700. Price is expected to reach the support levels at 0.9650, 0.9600 and 0.9550 this week. The only threat to this expectation is a possible stamina in USD.

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GBP/USD: This currency trading instrument simply moved sideways last week – in an equilibrium movement which started two weeks ago. The equilibrium phase would end this week or next, providing that price goes upwards or downwards 500 pips. This month, GBP might plummet versus JPY and USD, while going upwards versus AUD and NZD.

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USD/JPY: As it was prognosticated at the beginning of last week, the USD/JPY plummeted by almost 450 pips. Selling pressure is also visible on other JPY pairs. USD/JPY is supposed to continue going downwards this week, reaching the demand levels at 101.50, 101.00 and 100.50 this week or next. The outlook on JPY pairs is also bearish for the month of August 2016.

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EUR/JPY: In this market, bears are the overall winners last week. Price plummeted by 250 pips on Friday, leading to a vivid bearish signal in the market. Further southwards movement is possible: Price could reach the demand zones at 113.50, 113.00 and 112.50 this week or next.

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#22 » by instaforexbuk (736βCoins) » August 2nd, 2016, 2:21 pm

USD/CAD intraday technical levels and trading recommendations for August 2, 2016

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On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of significant bearish rejection was manifested during recent consolidations.

Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) was needed to enhance bearish momentum in the market.

However, recent signs of bullish recovery were manifested around the price level of 1.2650 on June 9.

Daily fixation above 1.2980 (61.8% Fibonacci level) allows a quick bullish movement towards 1.3300 (50% Fibonacci Level) where price action should be watched for significant bearish rejection and a valid SELL entry.

On the other hand, daily fixation below 1.3000 will allow further bearish decline to occur towards 1.2820 and 1.2700.


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#23 » by instaforexbuk (736βCoins) » August 3rd, 2016, 3:15 pm

Intraday technical levels and trading recommendations for GBP/USD for August 3, 2016

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Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market.

However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur.

The prominent demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection and a bullish engulfing weekly candlestick on February 26.

Bullish fixation above 1.4670 allowed further bullish advancement initially towards 1.4950 (weekly supply) where significant bearish rejection was expressed.

The price zone between 1.3845 and 1.3550 (historical bottoms in January 2009) was considered a significant demand zone to be watched for bullish recovery.

However, by the end of June, a significant bearish breakdown below 1.3550 was expressed as depicted on the charts.

Note that the price zone of 1.3845-1.4040 now constitutes the recent supply zone to be watched for new SELL entries if the current bullish pullback extends above 1.3550.

On the other hand, bearish persistence below the demand level at 1.3550 enhances the bearish scenario towards 1.2700 (the nearest bearish projection target) where price action should be watched for a possible short-term BUY entry.

Read more: https://www.instaforex.com/forex_analysis/79734/


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#24 » by instaforexbuk (736βCoins) » August 4th, 2016, 3:45 pm

Global macro overview for 04/08/2016

Ahead of tomorrow's NFP Friday the ADP report published yesterday had revealed that the private sector added 179,000 jobs, slightly up from the previous month's upwardly revised reading of 176,000. Business services contributed 59,000 new jobs in July, whereas financial services firm added 11,000 new jobs in the same month. In conclusion, good figures from US job market might be a first good indicator of a better than expected NFP report tomorrow.

Let's now take a look at the EUR/USD technical picture at the 4H time frame. The price reversed at the level of 61%Fibo, just as indicated earlier in the week and now is heading towards the first important support at the level of 1.1118. The level of 1.2030 is now a lower high, which means the bears are in control over this market now.


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Read more: https://www.instaforex.com/forex_analysis/79808/


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#25 » by instaforexbuk (736βCoins) » August 5th, 2016, 12:03 pm

Technical analysis of Gold for August 5, 2016


Gold price is challenging its recent highs at $1,367 and its yearly highs at $1,375. With the announcement of the US Non-Farm Payrolls today we expect volatility to rise and to see wide price movements. Gold price usually starts to fluctuate before the NFP numbers are announced, so be careful of stop hunters.

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Blue line - resistance

Gold price is trading just below the short-term resistance of the recent high and above the kijun- and tenkan-sen indicators in the 4 hour chart above. A rejection here will push price towards the cloud support and the 38% Fibonacci retracement near $1,345. Today I believe Gold price will reverse lower towards $1,345 and even lower.

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Green line - short-term support

Blue lines - bullish channel


In the daily chart Gold price is shown near its yearly highs. A break above $1,375 on a daily close will open the way for a push higher towards $1,425-$1,475. A break below the green trend line will open the way for a push towards the yellow rectangle and the Kumo area of $1,300-$1,290. A double top is very possible today. If news are bad for Gold, expect a big sell off towards $1,300 or even lower.

Read more: https://www.instaforex.com/forex_analysis/79834/


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#26 » by instaforexbuk (736βCoins) » August 8th, 2016, 3:37 pm

USD/CAD intraday technical levels and trading recommendations for August 8, 2016

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On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of significant bearish rejection was manifested during recent consolidations.

On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.

Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) was needed to enhance bearish momentum in the market.

However, recent signs of bullish recovery were manifested around the price level of 1.2650 on June 9.

Daily fixation above 1.2980 (61.8% Fibonacci level) allows a quick bullish movement towards 1.3300 (50% Fibonacci Level) where price action should be watched for significant bearish rejection and a valid SELL entry.

On the other hand, daily fixation below 1.3000 will allow further bearish decline to occur towards 1.2820 and 1.2700.

Read more: https://www.instaforex.com/forex_analysis/79926/


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#27 » by instaforexbuk (736βCoins) » August 9th, 2016, 2:36 pm

Intraday technical levels and trading recommendations for GBP/USD for August 9, 2016

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Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market.

However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur.

The prominent demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection and a bullish engulfing weekly candlestick on February 26.

Bullish fixation above 1.4670 allowed further bullish advancement initially towards 1.4950 (weekly supply) where significant bearish rejection was expressed.

The price zone between 1.3845 and 1.3550 (historical bottoms in January 2009) was considered a significant demand zone to be watched for bullish recovery.

However, by the end of June, a significant bearish breakdown below 1.3550 was expressed as depicted on the charts.

Note that the price zone of 1.3845-1.4040 now constitutes the recent supply zone to be watched for new SELL entries if the current bullish pullback extends above 1.3550.

On the other hand, bearish persistence below the demand level at 1.3550 enhances the bearish scenario towards 1.2700 (nearest bearish projection target) where price action should be watched for a possible short-term BUY entry.

Read more: https://www.instaforex.com/forex_analysis/79990


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#28 » by instaforexbuk (736βCoins) » August 10th, 2016, 2:56 pm

Technical analysis of EUR/USD for Aug 10, 2016


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When the European market opens, some Economic Data will be released such as German 10-y Bond Auction, French Industrial Production m/m.The US will release the economic data too such as Federal Budget Balance, 10-y Bond Auction, Crude Oil Inventories, JOLTS Job Openings, so amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.1168.

Strong Resistance:1.1162.

Original Resistance: 1.1151.

Inner Sell Area: 1.1140.

Target Inner Area: 1.1114.

Inner Buy Area: 1.1088.

Original Support: 1.1077.

Strong Support: 1.1066.

Breakout SELL Level: 1.1060.

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.

Read more: https://www.instaforex.com/forex_analysis/80012


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#29 » by instaforexbuk (736βCoins) » August 11th, 2016, 2:30 pm

Technical analysis of USD/CHF for August 11, 2016


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Overview:

The USD/CHF pair moved in a narrow sideways channel for a while. The market showed signs of instability. Amid the previous events, the price is still moving between the levels of 0.9734 and 0.9785. The daily resistance and support are seen at the levels of 0.9785 and 0.9734, respectively. In consequence, it is recommended to be cautious while placing orders in this area. We should wait until the sideways channel completes. Hence, the USD/CHF pair is still trading in a bullish trend from the new support level of 0.9734 forming a bullish channel. We expect the pair to move between 0.9734 and 0.9785. Major resistance is seen at 0.9857, while immediate resistance is found at 0.9785. Then, we may anticipate potential testing of 0.9785 to take place soon. Moreover, if the pair succeeds in passing through the level of 0.9785, the market will indicate a bullish opportunity above the level of 0.9857. A breakout of that target will move the pair further upwards to 0.9898. Buy orders are recommended above the area of 0.9734 with the first target at the level of 0.9785; and 0.9857 continue towards 0.9898. On the other hand, if the USD/CHF pair fails to break out through the resistance level of 0.9898; the market will decline further to the level of 0.9734 in order to test it again. AThe price of 0.9734 coincides with the ratio of the 50% Fibonacci retracement.

Read more: https://www.instaforex.com/forex_analysis/80095


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#30 » by instaforexbuk (736βCoins) » August 12th, 2016, 2:18 pm

USD/CAD intraday technical levels and trading recommendations for August 12, 2016

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On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of significant bearish rejection was manifested during recent consolidations.

On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.

Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) was needed to enhance bearish momentum in the market.

However, recent signs of bullish recovery were manifested around the price level of 1.2650 on June 9.

Daily fixation above 1.2980 (61.8% Fibonacci level) allows a quick bullish movement towards 1.3300 (50% Fibonacci Level) where price action should be watched for significant bearish rejection and a valid SELL entry.

On the other hand, conservative traders should be waiting for a daily fixation below 1.3000 to have a valid SELL entry. Initial T/P levels should be located at 1.2820 and 1.2700.

Read more: https://www.instaforex.com/forex_analysis/80165


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