Instaforex Analysis

[IFX Gertrude]

Weekly technical levels of USD/CHF for February 11-14, 2014

Trading recommendations:
According to the previous events, the price of the USD/CHF pair has still been trapped between 0.8960 and 0.9005. As it is known, if the trend is upward, then the strength of the currency pair will be defined as following: USD is in uptrend and CHF is in downtrend. Consequently, we expect that the trend is going to call for a bearish market at the level of 0.9020 in H1 chart. Additionally, it should be noted that the range today will be about 90 pips. Thereupon, sell at the price of 0.9020 with the first target of 0.8975, it might resume to 0.8932 in order to test the weekly support 1 on February 11, 2014. At the same time, the stop loss should never exceed your maximum exposure amounts. Accordingly, your stop loss should be placed above the 0.9055 level.

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[IFX Gertrude]

Technical analysis of EUR/JPY for February 12, 2014

Technical outlook and chart setups:
1. The EUR/JPY pair has tested resistance line at 140.00 levels as seen here. It is still recommended to remain flat and await for a reaction here. Aggressive traders may go short, risk remains at 143.00.
2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are fixed at 134.00, followed by 131.00 and lower respectively.
3. The entire structure remains bullish till prices are above support line which is passing through 134.50 at the moment. A pullback is expected at least towards 137.50 before the rally resumes further.
Trading recommendations:
Flat for now.

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[IFX Gertrude]

Technical analysis of GBP/CHF for February 13, 2014

Technical outlook and chart setups:
1. The GBP/CHF rose past the trading range and broke higher yesterday. Trading at around 1.4950 levels at the moment, the setup still favors bears to take control back. As seen here, the pair has retraced up to 0.618 fibonacci resistance at 1.4950. It is expected to reverse from here towards fresh lows. It is recommended to remain short and also add fresh now.
2. Immediate resistance is fixed at 1.5120/30, while supports are spread through 1.4550, followed by 1.4350 and lower respectively.
3. The structure is still favorable to bears till prices remain capped below 1.5120/30 levels. Current price action is a clear opportunity to initiate further short positions.
Trading recommendations:
Remain short, stop is at 1.5130, target is open.


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[IFX Gertrude]

Technical analysis of gold for February 14, 2014

The US retail sales data softened the US dollar and made greenticks in gold. Gold made a high at the level of $1,302.70 yesterday. Thisyear gold started in a good mood reaching a 3-month high. The rally we have seen sofar came from short covering. In Asia's trading session just now gold has made ahigh at $1,307.0. In the hourly and daily charts RSI gave a sell signal. August28, 2013 RSI reached 71.71, at that time gold was trading at the level of $1,433.3.Currently, in the daily chart RSI stood at 70 and the price is trading at thelevel of $1,307.0. Whereas, in the hourly chart RSI stood in the overbought zone atthe level of 75, which does not favor bulls. Probably, gold can stretch its leg upto $1,326, chances are remote.
We recommend to start selling from cmp $1,306.5, targets are $1,300.0,$1,294.0, $1,285.0, and $1,277.0.


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[IFX Gertrude]

Technical analysis of GBP/CHF for February 18, 2014

Technical outlook and chart setups:
1. The GBP/CHF pair remains structurally unchanged for now. The pair has retraced to1.4950/60, which is also fibonacci 0.618 resistance as seen here. The rally has stalled and a possible down move should be on the way. It is recommended to remain short, risk remains at 1.5120.
2. Intermediary resistance is at 1.4950/60, followed by 1.5120/30, while supports are spread through 1.4550/60, followed by 1.4350/60 respectively.
3. The structure is indicative of a potential head and shoulder reversal formation as seen here. A potential right shoulder has been carved out at 1.4950/60 levels and the next large move could be lower towards 1.43 levels at least. Trading recommendations: Remain short, stop is at 1.5130, target is open.

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[IFX Gertrude]

Technical analysis of USD/CAD for Febuary 19, 2014

General overview for 19/02/2014 08:30 CET
The count has been slightly changed as the momentum is slowing and the market might be in final stages of the ending diagonal wave (v) pattern. Any breakout above the level of 1.0938 is bullish, and the bottom for the whole blue impulsive cycle might be in place. On the other hand, in case of downside breakout below the level of 1.0923, the next support is at the level of 1.0900. Please notice the bullish divergence has formed on momentum .
Support/Resistance:
1.0994 - Weekly Pivot
1.0987 - Technical Resistance
1.0938 - Technical Resistance
1.0923 - Intraday Support
1.0900 - WS1
Trading recommendations:
The buy orders should be opened from the level of 1.0941 with SL below the level of 1.0923 and TP at the level of 1.0987.

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[IFX Gertrude]

Daily analysis of GBP/JPY for February 20, 2014

Overview
As it was expected, we should wait for breaking the Resistance area of 172.00-171.50 before making a decision to continue the bullish move. Yesterday, as it is shown in the H4 chart, the pair failed to break this Resistance level to trade below this area and above the Support level of 169.75. Currently, it is testing the Support level of 169.75 trying to break it through to continue its bearish move. If the pair manages to break this Support level and closes 4H below, it would be another good opportunity for more sell-signals till reaching the Support level of 168.50 as the first target.
Resistance and Support levels: R3 (172.00), R2(171.50), R1(170.50), S1 (169.75), S2 (168.50), S3(167.00).


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[IFX Gertrude]

Technical analysis of USD/JPY for February 21, 2014

In Asia, Japan will release the Monetary Policy Meeting Minutes, and the US will release the economic data such as US-Existing Home Sale. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.95.
Resistance. 2: 102.75.
Resistance. 1: 102.55.
Support. 1: 102.30.
Support. 2: 102.10.
Support. 3: 101.90.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.90) and resistance 3 (102.95). 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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[IFX Gertrude]

Weekly technical levels of GBP/USD for February 24-28, 2014

Trading recommendations:
As it is known, sellers are asking for a high price as well as buyers are bidding at a lower price. Therefore, the first key level will set at the level of 1.6755 and the second key level will set at the 1.6545 level on February 24, 2014. Equally important, the price of the GBP/USD pair has still been moving between 1.6683 and 1.6603. Additionally, it should be noted that the range was about 210 pips last week. Furthermore, the trend was very clear and was indicating in downtrend. Accordingly, we expect that the trend is going to call for a bearish market at the level of 1.6750 in H1 chart. As a result, sell at the price of 1.6750 with the first target of 1.6663, it might resume to 1.6544 in order to test the weekly support 1. on the other hand, your stop loss should be placed above the 1.6755, hence it will helpful to set it at the price of 1.6780.

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[IFX Gertrude]

Technical analysis of EUR/JPY for February 25, 2014

Technical outlook and chart setups:
1. EUR/JPY remains more or less unchanged within the 140.00/50 territory. Recommendations are to remain short for now, the risk remains at 143.00 levels. A push through 143.00 would indicate further strength and challenge 145.50.
2. Immediate resistance is at 142.00/50, followed by 145.50; while supports are spread through 136.50 (intermediary), 134.00, 131.00 and lower respectively.
3. The structure indicates that bears would remain in control untill prices remain under 143.00. Immediate target would be towards the rising support line near 135.00 region now. A break lower will indicate further weakness towards 131.00.
Trading recommendations:
Remain short, stop at 143.00 target open.More analysis - at instaforex.com

 

[IFX Gertrude]

Technical analysis of USD/IDR for February 26, 2014

The USD/IDR now have a good strengthened momentum against USD by a few factors such as:
1. Jannet Yallen's policy on the FED's Stimulus.
2. The JSX (Jakarta Stock Exchange) rebound causes the capital inflow to Indonesia.
As we know, USD/IDR has a positive correlation with the JSX indices which are influenced by the Dow, Nikkei, Hangsheng, Strait Times indices. Today this currency has a good strength momentum to 11.380 (low), but after the 11.380 level, the USD/IDR going back to 11.635 again, and at the Daily Charts Candle, it has already made a hanging man formation. This situation happened because the Indonesian stock market has already a technical issue and getting down into the red zone. As we know, since February 17, 2014 many capital inflow have already come to Indonesia especially in the Money Market, and it is normal if this currency has a little pullback. As long the USD/IDR does not breach and close above 11.692.45, this currency will play between the 38.2% to 61.8% Fibonacci area's (11.692.45 - 11332.55); otherwise if they can breach and close bellow 11.332.55, it will have a chance to go down to the 78.6% (11.076.35) level.


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[IFX Gertrude]

EUR/AUD intraday technical levels and trading recommendations for February 27, 2014

http://forex-images.instaforex.com/userfiles/20140221/!UJ21022014.jpg[/IMG]
The EUR/AUD pair initiated a downside movement on January 24. This movement is maintained within the depicted bearish channel. On February 13, the bulls expressed a bullish breakout above the upper limit indicating weakness of the ongoing bearish momentum. Simultaneously, the bulls established an inverted Head and Shoulders pattern off 1.5000. The neckline is roughly located at 1.5265. Confirmation of bullish reversal is evident with Four-Hour fixation above the price level of 1.5265. However, the pair consolidated below 1.5265 for a few hours before the bulls pushed again above it. Projection target of this confirmed reversal pattern is located at 1.5525 as long as neckline 1.5265-1.5200 remains defended by the bulls (our stop loss levels). Breakout above 1.5370 is essential to pursue further bullish targets of the Head and shoulders pattern. On the other hand, consolidation below 1.5200 threatens our bullish view hindering further bullish progression allowing a sideway movement to take place between 1.5265 and 1.5080.

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[IFX Gertrude]

Technical analysis of EUR/JPY for February 28, 2014

Technical outlook and chart setups:
1. The EUR/JPY pair loos to have for
med a lower top around 141.00 region. Prices are pushing lower below 139.00 and hence recommendations are to hold short positions taken earlier. Risk remains at 143.00.
2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are spread through 136.20/30 (intermediary), followed by 134.00/135.00, 131.00 and lower respectively.
3. The structure reveals that bears are in control below 143.00. Prices should continue to drift lower towards 135.00/136.00 and subsequently towards 132.00.
Trading recommendations:
Remain short, set stop at 143.50, target is open.


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[IFX Gertrude]

Technical analysis of USD/CHF for March 04, 2014

The USD/CHF'sdownward movement from 0.9081 extended to as low as 0.8777. Further declinecould be expected after a minor consolidation, and the next target would be at the 0.8700 area. In the hourly chart, thepair is holding above the moving averages that is a bullish view. Theimmediate resistance is at the level of 0.8864 on the intraday basis. Until the priceholds the support at 0.8818, we can expect some pullback. If the price breaks it,next support will be at 0.8792 and 0.8777.
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[IFX Gertrude]

Technical analysis of Gold for March 06, 2014

Technical outlook and chart setups:
1. The metal remains unchanged after producing an engulfing bearish candle earlier. Currently trading at $1,337.00/38, Gold is expected to rally through the $1,345.00/50.00 region today before reversing lower. It is recommended to remain short and also look to add further at above levels. Risk remains at $1,359.50/61.00.
2. Immediate resistance is at $1,355.00 (intermediary), followed by $1,361.00 and $1,375.00, while supports are spread through $1,320.00, followed by $1,280.00/85.00, $1,230.00/40.00 and lower respectively.
3. The structure indicated that Gold should be headed lower after an engulfing bearish candle appearance. $1,240.00/50 remains level of interest.
Trading recommendations:
Remain short, stop at $1,362.50, target open.


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[IFX Gertrude]

Analysis of USDX for March 07, 2014

The ADP report out of the US delivered a drastic blow to bullish expectations for a positive NFP report in February. December and January showed the US labor market which is not nearly as strong as many have anticipated. Economists expect that 150,000 jobs were added last month, up from only 113,000 jobs added in January. The US economy appears to be much weaker than expected and yesterday's ADP report suggests that today's NFP report will print the third consecutive disappointment. If the same thing happens, the US Federal Reserve may have to adjust its tapering due to economic weakness in the US. It would send conflicting signals to forex traders, and USD is likely to violent swing with more downward, sell off sharply with heavy volume. Technical view- The US dollar is trading below the moving average's and hammered towards the October 2013 low at $79. The US dollar made a double top at the end of January 2014, and kept on correcting itself. It was unable to move above the 50SMA. In the H4 and hourly charts, RSI is under an oversold condition, expecting a pullback with the previous support at 79.0. A break below the 79.0 mark will push it up to 78.6, 77.0, and 75.75.


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[IFX Yvonne]

Forecast for GBP/USD for December 5, 2018

The correction on the British pound yesterday took place even higher than the area we expected, the limiter was the balance line of the daily timeframe. On the four-hour chart, the signal line of the Marlin oscillator formed a long corridor, pushing off from its upper limit. The reason for the increased dynamics was the decision of the British Parliament to take over the authority of further Brexit process in case of failure of the May draft vote on the 11th. This turn of events has threatened the prime minister's resignation. Given that the EU may not want to process the finished project, which has been repeatedly stated, the country can leave the EU without a deal at all.

So, the short-term technical growth took place, the price strengthened on the daily and H4 in the downtrend, we are waiting for the price to support the price channel line in the area of 1.2550.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

 

[IFX Yvonne]

Intraday level for USD/JPY, Jan 31, 2019

In Asia, Japan will release the Housing Starts y/y, and Prelim Industria lProduction m/m and the US will also publish some economic data such as Natural Gas Storage, Chicago PMI, Unemployment Claims, Unemployment Claims, Personal Income m/m, Personal Spending m/m, Employment CostIndex q/q, Core PCE Price Index m/m, and Challenger Job Cuts y/y. So there is a probability the USD/JPY pair will move with a low to a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 109.54.

Resistance. 2: 109.32.

Resistance. 1: 109.11.

Support. 1: 108.85.

Support. 2: 108.64.

Support. 3: 108.42.

(Disclaimer) *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

 

[IFX Yvonne]

Intraday Level For EUR/USD, Feb 08, 2019

When the European market opens, some economic data will be released such as Italian Industrial Production m/m, French Prelim Private Payrolls q/q, French Prelim Private Payrolls q/q, and French Industrial Production m/m. The US will not publish any economic data today, so amid such conditions, the EUR/USD pair will move with a low to a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.1396.

Strong Resistance: 1.1389.

Original Resistance: 1.1378.

Inner Sell Area: 1.1367.

Target Inner Area: 1.1340.

Inner Buy Area: 1.1313.

Original Support: 1.1302.

Strong Support: 1.1291.

Breakout SELL Level: 1.1284.

(Disclaimer) *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

 

[IFX Yvonne]

Forecast for USD/JPY on February 11, 2019

The yen continues to build up strength before breaking out on the resistance of the Krusenstern line daily scale. The price is held by the balance line on the chart of the smaller period-H4. The Marlin line seeks to go out into the growth zone. On the daily chart, the line of this oscillator unfolds in the continuation of growth. The price exit over 110.04 - resistance of the Krusenstern line, will make it possible for the price to attack the Krusenstern line of the higher chart and rise to 110.36 - the resistance of the trend line of the price channel on the daily. Exit above this line opens the way to the resistance of the next line at 111.24.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.