Wave Analysis from InstaForex

Discussion in 'Stock Market Investing' started by InstaForex Gertrude, Mar 1, 2016.

  1. InstaForex Gertrude

    InstaForex Gertrude Member

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    USD/CAD Fundamental Analysis April 20, 2017

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    USD/CAD is currently going through a good amount of volatility in the market. There had been bearish impulsive movement with a great pressure which was recently taken out by bullish impulsive moves. We have observed price exhaustions for several times in this pair and currently sentimental confusion going on in USD/CAD. Yesterday CAD Gov. Council Member Wilkins spoke about the key interest rates and monetary policy which did not provide any positive outcome for the currency, as a result USD gained a good amount of strength closing above 1.3450 yesterday. On the USD side, today market is expected to be quite volatile as important economic events like Philly Fed Manufacturing Index is going to be published which is expected to be at 25.6 which previously was at 32.8 and along with it Unemployment Claims report is going to be published which is expected to show an increase to 241K which previously was at 234K. If USD news comes positive today, we might see the pair climbing up much higher in the coming days.

    Now let us look at the technical view, the price has again managed to enter the channel area with a daily close above 1.3450. As of the bullish impulsive pressure and taking out the prior swing on the upside, it is expected that the price will move towards 1.3535-50 resistance area and if the resistance area is taken out with a daily close then we will be looking forward to further upside movement towards 1.40.

    Analysis are provided byInstaForex.
  2. InstaForex Gertrude

    InstaForex Gertrude Member

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    USD/CAD Fundamental Analysis April 20, 2017

    [​IMG]

    USD/CAD is currently going through a good amount of volatility in the market. There had been bearish impulsive movement with a great pressure which was recently taken out by bullish impulsive moves. We have observed price exhaustions for several times in this pair and currently sentimental confusion going on in USD/CAD. Yesterday CAD Gov. Council Member Wilkins spoke about the key interest rates and monetary policy which did not provide any positive outcome for the currency, as a result USD gained a good amount of strength closing above 1.3450 yesterday. On the USD side, today market is expected to be quite volatile as important economic events like Philly Fed Manufacturing Index is going to be published which is expected to be at 25.6 which previously was at 32.8 and along with it Unemployment Claims report is going to be published which is expected to show an increase to 241K which previously was at 234K. If USD news comes positive today, we might see the pair climbing up much higher in the coming days.

    Now let us look at the technical view, the price has again managed to enter the channel area with a daily close above 1.3450. As of the bullish impulsive pressure and taking out the prior swing on the upside, it is expected that the price will move towards 1.3535-50 resistance area and if the resistance area is taken out with a daily close then we will be looking forward to further upside movement towards 1.40.

    Analysis are provided byInstaForex.
  3. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of EUR/USD for Apr 21, 2017

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    When the European market opens, some Economic Data will be released, such as Current Account, 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 the Economic Data, too, such as Existing Home Sales, Flash Services PMI, and Flash Manufacturing PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.0765.
    Strong Resistance:1.0759.
    Original Resistance: 1.0748.
    Inner Sell Area: 1.0737.
    Target Inner Area: 1.0712.
    Inner Buy Area: 1.0687.
    Original Support: 1.0676.
    Strong Support: 1.0665.
    Breakout SELL Level: 1.0659.

    Analysis are provided byInstaForex.
  4. InstaForex Gertrude

    InstaForex Gertrude Member

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    NZD/USD Intraday technical levels and trading recommendations for April 24, 2017

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    The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

    A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

    Bullish persistence above 0.7100 allowed a further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected. Bearish persistence below 0.7250 allowed a further decline toward 0.7100 then 0.6960 which failed to provide enough support for the pair.

    That is why a further fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

    Recently, a bullish breakout was achieved above the depicted key level (0.6960).

    That is why the recent bearish pullback toward 0.6960 offered significant bullish rejection and a valid BUY entry which is running in profits now.

    Note the depicted bullish 1-2-3 pattern with projection target around 0.7250 provided that bullish fixation above 0.7080-0.7100 (neckline) is achieved on a daily basis.

    On the other hand, the price level of 0.7100 remains a significant key level to prevent a further bullish advance toward 0.7250.

    Analysis are provided byInstaForex.
  5. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of EUR/USD for Apr 25, 2017

    When the European market opens, some Economic Data will be released, such as Belgian NBB Business Climate. The US will release the Economic Data, too, such as Richmond Manufacturing Index, New Home Sales, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, and HPI m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.0918.
    Strong Resistance:1.0912.
    Original Resistance: 1.0901.
    Inner Sell Area: 1.0890.
    Target Inner Area: 1.0865.
    Inner Buy Area: 1.0840.
    Original Support: 1.0829.
    Strong Support: 1.0818.
    Breakout SELL Level: 1.0812.

    Analysis are provided by InstaForex
  6. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of USD/JPY for April 26, 2017

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    USD/JPY is expected to prevail its upside movement. The pair recorded a succession of higher tops and higher bottoms since April 25 and is holding on the upside. The rising 50-period moving average maintains the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum.

    As long as 110.55 holds on the downside, look for a further advance toward 111.30 and even 111.60 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 111.60 and the second one at 112.00. In the alternative scenario, short positions are recommended with the first target at 110.30 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 109.95. The pivot point is at 110.65.

    Resistance levels: 111.60, 112.00, and 112.45
    Support levels: 110.30, 109.95, and 109.50

    Analysis are provided byInstaForex.
  7. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of EUR/USD for Apr 27, 2017

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    When the European market opens, some Economic Data will be released such as Minimum Bid Rate, Italian 10-y Bond Auction, Spanish Unemployment Rate, Spanish Flash CPI y/y, German Prelim CPI m/m, and GfK German Consumer Climate. The US will release the Economic Data, too, such as Natural Gas Storage, Pending Home Sales m/m, Prelim Wholesale Inventories m/m, Goods Trade Balance, Durable Goods Orders m/m, Unemployment Claims, and Core Durable Goods Orders m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.0960.
    Strong Resistance:1.0954.
    Original Resistance: 1.0943.
    Inner Sell Area: 1.0932.
    Target Inner Area: 1.0907.
    Inner Buy Area: 1.0882.
    Original Support: 1.0871.
    Strong Support: 1.0860.
    Breakout SELL Level: 1.0854.

    Analysis are provided byInstaForex.
  8. IFX Yvonne

    IFX Yvonne Member

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    Daily analysis of USDX for April 28, 2017

    The index is now capped by the resistance level of 99.28, as the bulls are trying to gather enough bullish momentum to perform a breakout to the upside. However, a pullback might happen to re-test the support area of 98.83. The 200 SMA on H1 chart remains an active dynamic supply zone to cap further gains. MACD indicator is turning neutral, supporting a sideways tone for USDX in the coming days.

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    H1 chart's resistance levels: 99.28 / 99.97
    H1 chart's support levels: 98.83 / 98.42

    Trading recommendations for today:

    Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 98.83, take profit is at 98.42 and stop loss is at 99.24.


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  9. InstaForex Gertrude

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    Technical analysis of USD/JPY for May 03, 2017

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    In Asia, today Japan will not release any economic data. However, the US will release a series of fundamental data such as Federal Funds Rate, FOMC Statement, Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change. So there is a probability the USD/JPY pair will move with medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Resistance 3: 112.61.
    Resistance 2: 112.39.
    Resistance 1: 112.17.
    Support 1: 111.90.
    Support 2: 111.63.
    Support 3: 111.46.

    Analysis are provided byInstaForex.
  10. InstaForex Gertrude

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    Technical analysis of USD/JPY for May 4, 2017

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    USD/JPY is expected to prevail its upside movement. The technical picture of the pair is positive above a rising trend line, which emerged on May 3, and is holding on the upside. The rising 20-period and 50-period moving averages are playing support roles and maintain the upside bias. The relative strength index is supported by a bullish trend line and is above its neutrality level at 50.

    As long as 112.25 holds on the downside, look for a further advance toward 113.15 and even 113.40 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 113.15 and the second one at 113.40. In the alternative scenario, short positions are recommended with the first target at 111.95 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 111.75. The pivot point lies at 112.25.

    Resistance levels: 113.15, 113.40, and 113.85
    Support levels: 111.95, 111.75, and 111.20

    Analysis are provided byInstaForex.
  11. InstaForex Gertrude

    InstaForex Gertrude Member

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    Daily analysis of GBP/USD for May 05, 2017

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    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 byInstaForex.
  12. IFX Yvonne

    IFX Yvonne Member

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    Technical analysis of USD/CHF for May 8, 2017

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    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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  13. IFX Yvonne

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    Technical analysis of NZD/USD for May 09, 2017

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    Overview:

    The NZD/USD pair continues to move upwards from the level of 0.6847. Today, the first support level is currently seen at 0.6847, the price is moving in a bullish channel now. The level of 0.6847 coincides with the double bottom, which is expected to act as a minor support today. Besides, the double bottom is seen at the point of 0.6847. Since the trend is above the level of 0.6847, the market is still in an uptrend because the major support is seen at the level of 0.6847. Furthermore, the trend is still showing strength above the moving average (100). Thus, the market is indicating a bullish opportunity above the mentioned support levels, for that the bullish outlook remains the same as long as the 100 EMA is heading upwards. Therefore, strong support will be found at the level of 0.6847 providing a clear signal to buy with a target seen at 0.6998. If the trend breaks the first resistance at 0.6998, the pair will move upwards continuing the bullish trend development to the level 0.7053 in order to test the double top. Besides, it should be noted that the pivot is seen at 0.6922. However, the price spot of 0.6847 and 0.6871 remains a significant support zone. Thus, the trend is still bullish as long as the level of 0.6847 is not breached.

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  14. IFX Yvonne

    IFX Yvonne Member

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    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.

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    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.

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    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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  15. IFX Yvonne

    IFX Yvonne Member

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    Technical analysis of USD/JPY for May 11, 2017

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    USD/JPY is expected to trade in a higher range. The pair validated an intraday triangle pattern, and resumed its uptrend. A bullish cross has been identified between the 20-period and 50-period moving averages, which should confirm a positive outlook. Besides, the relative strength index is bullish above its neutrality area at 50.

    To conclude, as long as 113.95 holds on the downside, look for a continuation of the rebound to 114.40 and 114.70 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 114.40 and the second one at 114.70. In the alternative scenario, short positions are recommended with the first target at 113.60 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 113.40. The pivot point lies at 113.95.

    Resistance levels: 114.35, 114.70, and 115.00

    Support levels: 113.60, 113.10, and 112.65


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  16. IFX Yvonne

    IFX Yvonne Member

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    Technical analysis of USD/CHF for May 12, 2017

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    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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  17. IFX Yvonne

    IFX Yvonne Member

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    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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  18. IFX Yvonne

    IFX Yvonne Member

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    Technical analysis of GBP/JPY for May 16, 2017

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    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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  19. InstaForex Gertrude

    InstaForex Gertrude Member

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    GBP/USD above strong support, prepare to buy on dips

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    Price is above major support at 1.2861 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect price to make a bounce above this level towards 1.2988 resistance

    (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is also seeing strong support above the 13% area where we expect further bullish action from.

    Buy above 1.2861. Stop loss at 1.2798. Take profit at 1.2988.

    Analysis are provided byInstaForex.
  20. IFX Yvonne

    IFX Yvonne Member

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    Technical analysis of USD/CHF for May 18, 2017

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    Overview:

    The USD/CHF pair continues to move downwards from the level of 0.9893.

    Today, the first resistance level is seen at 0.9893 followed by 0.9948 as second resistance.

    Also, the level of 0.9787 represents a weekly pivot point for that it will act as major resistance/support in coming hours.

    Amid the previous events, the pair is still in a downtrend, because it is trading in a bearish trend from the new resistance line of 0.9893 towards the first support level at 0.9787 in order to test it.

    If the pair succeeds to pass through the level of 0.9787, the market will indicate a bearish opportunity below the levels of 0.9710 and 0.9655.

    However, if a breakout happens at the resistance level of 0.9893 (resistance 1), then this scenario may be invalidated.

    Additionally, the support is found at 0.9893, which represents the 50% Fibonacci retracement level on the daily time frame. Since the trend is below the 50% Fibonacci level, the market is still in an downtrend.


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