Overview: USD/CHF It should be noted that the price has still been trapped between 0.9230 – 0.9503 as well as it has been set below strong resistance at the level of 0.9403 (this level is formed at the weekly pivot point for June 10 – 14, 2013). Additionally, it should be noted that these […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading upwards, so we have changed our primary wave count a little bit. Yesterday, during the Asian and European sessions, we could observe a strong descending movement from 0.9466 towards the 0.9325 level and we can consider this move as the end of […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading downwards, corrective wave C (coloured green) of the bigger wave (4) (coloured blue) has been developing. Yesterday, during the Asian and European sessions we could observe an ascending movement from 10.177 towards the 1.0249 level and we can consider this move as the […]
Overview: Since our last analysis the EUR/NZD pair rejected from level 1.7100, initiationg another corrective phase. This correction can be small or major corrective phase. I have placed Fibonacci Expansion levels and got FE 161.8 % at price 1.6563 which is very important level for EUR/NZD. If the price breaks FE 161.8 %, that means […]
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Today’s Support and Resistance Levels: R3: 1.6992 R2: 1.6956 R1: 1.6920 Current Spot: 1.6836 S1: 1.6809 S2: 1.6772 S3: 1.6692 Technical Overview: We think there was the culmination of black wave iii at 171.09 yesterday. It was a little higher than our ideal target near 1.7040, but then trying to pin-point the top of an […]
EURUSD: This pair has gone upwards by roughly 100 pips this week, and the bullish scenario is still valid. Because of the optimism surrounding this pair, it could be going further upwards towards the resistance line at 0.3350. There is a support line at 1.3200 which is expected to halt any possible bearish threat. USDCHF: […]
Overview: USD/JPY will trade in lower range, undermined by stronger yen demand sparked by fears that Japan may not be able to continue its aggressive monetary easing after the Bank of Japan Tuesday refrained from introducing new measures to ease market volatility. USD/JPY is also affected by flows to safe-haven JPY and unwinding of JPY-funded […]
Today’s Technical Level: Resistance. 3: 96.89. Resistance. 2: 96.70. Resistance. 1: 96.51. Support. 1: 96.28. Support. 2: 96.09. Support. 3: 95.89. Description: Please, pay attention to the levels of support 3 (95.89) and resistance 3 (96.89). Usually, when a level is touched, USD/JPY should rebound from the previous minimum by 10 to 20 pips, but […]
Today’s Technical Levels: Breakout BUY Level: 1.3375. Strong Resistance: 1.3368. Original Resistance: 1.3355. Inner Sell Area: 1.3342. Target Inner Area: 1.3312. Inner Buy Area: 1.3282. Original Support: 1.3269. Strong Support: 1.3256. Breakout SELL Level: 1.3249. Description: Today EUR/USD has support and resistance at 1.3269 and 1.3355. The rate is accompanied by strong support at 1.3256 […]
Daily chart: The crude oil made a bearish rebound below resistance at the 96.73 level and fell back to the level of 94.46. This price range is very volatile for crude oil, so it is not possible to determine the trend in the long term for the CL. For now, the CL is maintained above […]
Daily chart: GBP/USD continues forming a lower high pattern, the resistance below the level of 1.5642. Yesterday, this pair was very bullish and consolidated above the 200 day moving average, which could indicate that GBP/USD could be bullish for a long time. However, we cannot rule out a possible bearish rebound in the current price […]
Today’s support and resistance levels: R3: 129.20 R2: 128.96 R1: 128.70 Current spot: 128.44 S1: 128.09 S2: 127.42 S3: 127.10 Technical overview: We have seen a nice impulsive decline from the 131.31 high, which confirms that the x wave did end at 131.31 and the second zigzag lower now has begun. In the short term, […]
RECOMMENDATION: Sell stop (pending order) at 128.24. Take profit at 128.10. Stop loss at 128.34. Best regards, Arief Makmur Official Analyst of InstaForex Group InstaForex Group http://instaforex.com Email: [email protected] Yahoo Messenger & Skype: Arief.ifx_jakarta blog.mt5.com/arief http://www.mt5.com/forex_analysis_award/profile/index/arief Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be […]
Overview From the today’s H4 chart, yesterday’s closing below the Resistance level 153.85 gives the price an opportunity for a bearish move. As shown here, currently the price is trying to continue its bearish move by breaking the Support level 151.00 and closing 4h below. In that case we may get another opportunity for more […]
Overview From the today’s H4 chart, the metal is still trading between the Support level 21.50 and below the Resistance level 22.00 after its failure to break the Resistance level yesterday and bounced from it to take a slightly downward move and currently is re-testing the Support level 22.50 again. Presently we suggest waiting for closing […]
On Wednesday, the GBP/USD pair expressed daily closure at 1.5409. As expected, this opened the way towards 1.5580 then 1.5620. On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured on Thursday. The pair is trying to fixate above 1.5603 (the high of May). If […]
Support level around 1.0016-0.9995 provided evident bullish steam for the pair to step above 1.0300. Hence, there might be further bullish pressure to test 1.0430 level. The scenario of accidental confusion continued last week untill Thursday when we had this massive bearish daily candlestick that closed at 1.0260. Today, the USD/CAD pair is still affected […]
The downtrend line extending from 1.3700 was broken when we had daily closure above 1.3075, this opened the way towards 1.3106 then 1.3250. Price Levels around 1.3250 represent a strong resistance for the EUR/USD pair as it corresponds to previous tops (including the high of previous May). However, esterday we had a bullish engulfing daily […]
The significant uptrend peaked at 1.5682 last week and the next important resistance is projected at 1.5750 corresponding to 61.8% Fibonacci. Intraday support is projected at 1.5380 (SMA 100). Price Level 1.5580 (50% Fibonacci) is expressing some bearish pressure on the cable today. The pair is probably expressing 123 bullish reversal pattern that becomes confirmed […]
Overview: GBP/JPY is trading in lower range. The rate is underpinned by weak yen sentiment; euro demand from Japan importers; BOJ’s aggressive easing measures to help achieve its 2% inflation target. But GBP/JPY gains are tempered by euro sales from Japan exporters. Daily chart is mixed as MACD is bearish, but stochastics is rising from […]
Overview: USD/CHF is trading in lower range. The rate is undermined by franc demand on buoyant CHF/JPY as weak yen sentiment supports the cross; improvement in Switzerland’s unemployment rate to 3.0% in May from 3.1% in April. But USD/CHF losses are tempered by positive dollar sentiment. Daily chart is negative-biased as MACD is bearish, 5- […]
Overview: NZD/USD is consolidating in lower range after hitting 10-month low of 0.7812 on Monday. The rate is supported by Kiwi demand on buoyant NZD/JPY as negative yen sentiment supports the cross. But NZD/USD gains are tempered by positive USD sentiment; fears over China economic slowdown; weaker commodity prices. Daily chart is still negative-biased as […]
Overview: USD/JPY is trading in lower range. USD/JPY is underpinned by negative yen sentiment as confidence rises over Prime Minister Abe’s ultra-loose monetary policy to boost the economy–after Japan’s 1Q GDP growth was revised upward to 4.1% from +3.5% preliminary reading. USD/JPY is also supported by positive dollar sentiment after stronger-than-expected U.S. May non-farm payrolls; […]
We are glad to announce that the XEMarkets Looking for the Best Japanese Trader demo competition exclusively organized for Japanese clients successfully ended on June 10th. An impressive number of traders and investors participated in the demo competition entitled Looking for the Top Japanese Trader running between 10th May and 10th June 2013 and available […]
Technical outlook and chart setups: The structure remains unchanged for now. Prices are out of consolidation range of 22.00 and 23.00 for now. 22.00 level shall provide short-term resistance for the metal. On the lower side, supports are spread through 21.20/40 levels (the Fibonacci 0.618 level of the rally between 20.00 to 23.00 recently). A […]
Technical outlook and chart setups: The metal has been testing out patience levels recently. As depicted here, we are focusing on the recent swings from 1,324 to 1,488 and 1,340 to 1,420. This structure depicts a cone consolidation and with in the structure, Gold is at a possible Fibonacci convergence at 1,368/70 levels, as depicted. […]
We are glad to announce that the XM Looking for the Best Japanese Trader demo competition exclusively organized for Japanese clients successfully ended on June 10th. An impressive number of traders and investors participated in the demo competition entitled Looking for the Top Japanese Trader running between 10th May and 10th June 2013 and available […]
Technical outlook and chart setups: The single currency pair rose through 131.20/30 levels yesterday and pulled back to 128.00 level now. This region is re-enforced by the 0.618 Fibonacci retracement of the rally between 126 and 131.20/30. If short positions were taken yesterday, it is recommended to cover and book profits; also initiate 50% long […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading upwards, just like we expected, corrective wave 2 (coloured blue) of the bigger wave [3] (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 0.9393 towards the 0.9460 level. Therefore, during the New […]
