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Post by instaforexgertrude on Feb 5, 2015 2:52:40 GMT -5
Daily analysis of major pairs for February 5, 2015
EUR/USD: This pair tested the resistance line at 1.1500, broke through it and later failed to close above it. The dip that occurred as a result is serious enough to be a danger to the current bullish possibility. A movement below the support line at 1.1250 would mean the end of the bullish possibility and the reversal of the recent bearish trend.
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Post by instaforexgertrude on Feb 6, 2015 3:02:20 GMT -5
#USDX Technical analysis for February 6, 2015
The Dollar index confirms the fact that the Dollar is currently weak and more weakness is around the corner. The Dollar index has managed to move lower after being rejected by the short-term resistance. The black line is the resistance trend line and price has gotten rejected every time. Price is below the Ichimoku cloud. Therefore, we should expect more downside pressures to arise and push the index lower for a bigger than normal correction.After a long time, the weekly chart is showing signs of reversal and some increased bearishness. The Dollar index has weekly support at 91.65 by the tenkan-sen (red) trend line. The longer-term trend remains bullish and a pullback towards 92-91.50 could be a great buying opportunity.
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Post by instaforexgertrude on Feb 9, 2015 3:04:01 GMT -5
USD/JPY Wave Analysis for February 9-13, 2015
Trading recommendations: The GBP/USD pair on February 9, 2015. The resistance is going to set at the level of 1.5402, but a double top is placed at the point of 1.5351. Consequently, the descending movement will probably be lower than the 1.5351/1.5402 level with the targets at 1.5195 in order to try breaking the weekly pivot point. The pair will continue movement towards the levels of 1.5130 - 1.5070. On the contrary, the support has already set at 1.7070. Furthermore, it should be noted that it will rather profitable to buy above this level to retest this level in the long period. Therefore, buy deals are recommended above the 1.5070 level with targets at 1.5277 and 1.5351 to reach the double top.
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Post by instaforexgertrude on Feb 9, 2015 20:48:19 GMT -5
Malaysia Expects Q4 Gdp to have slowed Versus Previous Quarters: Standard Chartered
Quotes from Standard Chartered Malaysia is due to release Q4-2014 GDP and current account data on 12 February. We expect GDP growth to have slowed to 5.0% y/y from an average 6.1% in the first nine months of the year. This would translate into full-year growth of 5.8%, the fastest since 2010, despite the slowdown towards end-2014. We expect net external demand to have contributed positively to growth, unlike in recent years. Malaysia forecast challenges to growth, particularly in Q1-2015, on lower global oil prices. We expect the current account balance to have narrowed to MYR 6.2bn in Q4 from MYR 7.6bn in Q3.
News are provided by InstaForex
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Post by instaforexgertrude on Feb 10, 2015 2:44:31 GMT -5
Daily analysis of GBP/USD for February 10, 2015
During the last session, the GBP/USD pair did a pullback below the resistance level of 1.5247. Now, the nearest target on the downside road is placed at the level of 1.5025. Currently, the pair could start forming a bullish pattern in order to rise until the resistance level of 1.5497, but at this point, our outlook for the GBP/USD pair is still bearish.
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Post by instaforexgertrude on Feb 11, 2015 3:09:03 GMT -5
Daily analysis of GBP/USD for February 11, 2015
The corrective moves on the GBP/USD pair are still on the way, as the pair is trying to perform a bullish consolidation above the level of 1.5247. Now, we're watching a higher high pattern formation of the GBP/USD pair on the daily chart. We expect a rise until the resistance level of 1.5491, when the pair finishes developing that pattern. The range established between the levels of 1.5249 and 1.5210 continues to be respected by the GBP/USD pair on the H1 chart, because the pair found strong support in the zone of 1.5210. However, later the pair was rejected from the level of 1.5249. By the way, it seems that bulls could take the ride on the GBP/USD pair in an intraday outlook. The MACD indicator is still on the positive territory.
Daily chart's resistance levels: 1.5247 / 1.5491 Dailychart's support levels: 1.5025 / 1.4841 H1 chart's resistance levels: 1.5249 / 1.5302 H1 chart's support levels: 1.5210 / 1.5166
Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5249, take profit is at 1.5302, and stop loss is at 1.5196.
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Post by instaforexgertrude on Feb 12, 2015 3:00:58 GMT -5
Technical analysis of Silver for February 12, 2015
Technical outlook and chart setups: Silver has remained unchanged while Gold hit lows yesterday, as seen here. The metal is holding fibonacci 0.618 support level very well at $16.50. It is expected to resume rally any time now, towards $18.90 and $21.00 at the sessions to come. It is recommended to remain long for now and consider adding further positions at the current levels. Bulls are very much poised to extend rally through higher levels till $16.50 and $15.50 remains intact. Immediate support is seen at $16.50 levels (interim), followed by $16.20, $15.50 and lower while resistance is seen at $17.40/50 (interim), followed by $18.40.50, $18.90 and higher respectively.
Trading recommendations: Remain long, stop at $16.00, the target is open.
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Post by instaforexgertrude on Feb 13, 2015 3:01:04 GMT -5
Technical analysis of GBP/USD for February 13, 2015
Overview: According to the previous events, the price of GBP/USD called for a strong bullish market from the price of 1.5200 yesterday (February 12, 2015). Therefore, the market will continue to move between the levels of 1.5366 and 1.5405 today. So, it would be wise to excercise caution in this range around the level of 50% Fibonacci retracement because the ratio of 50% coincides with the price of 1.5368. So, the first step is to wait for a period of tight sideway range market before breakouts. Then, the possible scenario is that the market is going to start showing signs of the bullish market again. In other words, it will be a good sign to buy above the level of 1.5360 with a first target of 1.5433 which climbs towards the first resistance around the area of 1.5467 (61.8% of Fibonacci retracement levels on H4 chart). However, if the the pair cannot break this resistance, hence the market will indicate a bearish opportunity below 1.5470. Then, the level is going to act really as strong resistance. Accordingly, it will be a good idea to sell below 1.5470 with a first target of 1.5402 and it is going to call for a downtrend in order to continue the bearish market towards 1.5332 on February 13, 2015.
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Post by instaforexgertrude on Feb 17, 2015 3:10:08 GMT -5
Daily analysis of GBP/USD for February 17, 2015
The Monday session was supposed to be a slow one for the GBP/USD pair, but in fact the bearish bias took the control again of this pair for a while. However, currently, our targets still remain on the upside at the resistance level of 1.5491. The current moves could deliver a bullish pattern on the daily chart. The MACD indicator is still on the positive territory.
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Post by instaforexgertrude on Feb 18, 2015 3:08:40 GMT -5
Technical analysis of USD/JPY for February 18, 2015
In Asia, Japan will release the BOJ Press Conference and Monetary Policy Statement. The US will also release some economic reports such as Industrial Production m/m, Capacity Utilization Rate, Housing Starts, Core PPI m/m, PPI m/m, and Building Permits. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.
TODAY TECHNICAL LEVELS: Resistance. 3: 119.90. Resistance. 2: 119.67. Resistance. 1: 119.44. Support. 1: 119.15. Support. 2: 118.92. Support. 3: 118.68.
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Post by instaforexgertrude on Feb 20, 2015 2:33:12 GMT -5
Technical analysis of NZD/USD for February 20, 2015
Overview: The NZD/USD pair will probably continue straight from the level of 0.7478 (at 61.8% of Fibonacci retracement levels on H1 chart). Besides, it should be noted that the double bottom will be formed at the same level of 0.7478. Therefore, the NZD/USD pair is showing signs of strenght following the break of the first resistance level of 0.7500. So it will be a good idea to buy above the level of 0.7470 or/and 0.7500 with the first target of 0.7548 and further towards the last peak point 0.7577 (it will act as a strong resistance, so that it is going to be a good place to take profit, it should be also noted that this level of taking profit will coincide with 100% of Fibonacci). However, in case reversal takes place and the NZD/USD pair breaks through the support level of 0.7478, the market will lead to further decline to 0.7443 and then 0.7414 in order to indicate for the bearish market on February 20, 2015. Trading recommendations: According to previous events, the price will move between 0.7577 and 0.7415. Buy above 0.7480 with the first target of 0.7546, it might resume to 0.7570. Below the level of 0.7463 look for further downside with the 0.7443 and 0.7414 targets.
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Post by instaforexgertrude on Feb 23, 2015 3:06:41 GMT -5
GBP/JPY Elliott wave count and Fibonacci levels for April 25, 2012
EUR/USD: This currency trading instrument moved largely sideways last week as bulls and bears struggled in vain for significant supremacy, being swayed by transitory buying and selling pressure. There is a support line at 1.1300 and a resistance line at 1.1450; and the price would break either to the downside or the upside. Nevertheless, a break above the resistance line at 1.1450 is more likely this week.
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Post by instaforexgertrude on Mar 2, 2015 3:14:27 GMT -5
Technical analysis of EUR/USD for March 02, 2015
When the European market opens, some economic news will be released such as Unemployment Rate, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Quarterly Unemployment Rate, Italian Monthly Unemployment Rate, Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. Besides, the US will release a number of economic reports such as the ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.1221. Strong Resistance:1.1215. Original Resistance: 1.1204. Inner Sell Area: 1.1193. Target Inner Area: 1.1167. Inner Buy Area: 1.1141. Original Support: 1.1130. Strong Support: 1.1119. Breakout SELL Level: 1.1113.
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Post by instaforexgertrude on Mar 3, 2015 2:37:40 GMT -5
Daily analysis of major pairs for March 3, 2015
EUR/USD: This pair is still bearish in outlook, and is not yet able to go upwards significantly, following a strong bearish run that happened at the end of last week. As long as this pair is weak, the USD/CHF (which normally gets negatively correlated to the EUR/USD) would not be able to go downwards. The price is currently between the support line at 1.1150 and the resistance line at 1.1200. The support line is likely to be breached to the downside but the price may be unable to close below it, because the outlook on the EUR is upbeat.
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Post by instaforexgertrude on Mar 5, 2015 3:37:36 GMT -5
Technical analysis of EUR/USD for March 05, 2015
When the European market opens, economic data on the ECB press conference, minimum bid rate, the French 10-y bond auction, the retail PMI, and the German factory orders m/m are expected to be released. The US will announce the infotmation about natural gas storage, factory orders m/m, revised unit labor costs q/q, the revised nonfarm productivity q/q, unemployment claims, and Challenger job cuts y/y. So, EUR/USD will move with medium volatility during this day amid reports.
TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.1133. Strong Resistance:1.1127. Original Resistance: 1.1116. Inner Sell Area: 1.1105. Target Inner Area: 1.1079 Inner Buy Area: 1.1053. Original Support: 1.1042. Strong Support: 1.1031. Breakout SELL Level: 1.1025.
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