InstaForex Wave Analysis - page 187
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Technical analysis of GBP/CHF for November 06, 2014
Technical outlook and chart setups:
The GBP/CHF had pulled back from 1.5450 levels earlier, which is also marked by fibonacci 0.786 resistance as seen here. The pair is now expected to continue drifting lower till prices remain below 1.5450 levels. Resistance is seen at 1.5475, followed by 1.5550/5, while support is seen at 1.5200, followed by 1.5125, 1.4975 and lower respectively. It is recommended to remain short for now, risk remains above 1.5550. Bears are expected to remain in control for now, till prices remain below 1.5450 levels. On the flip side, a push above 1.5450/75 levels would delay matters further.
Trading recommendations:
Remain short, set stop above 1.5550, target is open.
More analysis - at instaforex.com
Daily analysis of major pairs for November 7, 2014
EUR/USD: The EUR/USD has been able to reach our weekly target at 1.2450. The price has even gone far below that level, owing to the continuous stamina in the USD. The price now targets the support line at 1.2350, which might be breached today or early next week.
More analysis - at instaforex.com
Daily analysis of USDX for November 10, 2014
The USDX has made an interesting pullback at the level of 87.95 on the daily chart. Because of this bearish pattern, the USDX could make a breakout at the support level of 87.35 and fall to the level of 86.20. However, we must be cautious in the medium term with the USDX, because this instrument could rise to the resistance level of 88.63. Dailychart's resistance levels: 88.63 / 90.40
Dailychart's support levels: 87.35 / 86.20
More analysis - at instaforex.com
Technical analysis of EUR/JPY for November 11, 2014
Technical outlook and chart setups:
The EUR/JPY pair seems to be retracing its fall from 144.21 to sub 142.00 levels for now. The resistance (fibonacci 0.618), is around 143.40 levels and it is expected to reverse lower from there on. Resistance is at 144.21(interim), followed by 145.50, while support is seen at 140.30, followed by 139.20/30 and lower respectively. A 3 wave correction can be expected, till prices remain below 144.21 levels here. Bears are expected to resume its 3rd leg lower from around current price action (143.40). It is recommended to remain short, risk remains at 144.50 levels. Downside extensions are pointing towards at least 140.00/139.00 levels.
Trading recommendations:
Remain short, stop at 144.55, target is open.
More analysis - at instaforex.com
Daily analysis of GBP/USD for November 12, 2014
At the H4 chart, the GBP/USD pair made a bullish consolidation above the support level of 1.5874. The next goal on the bullish road would be the resistance level of 1.5951. We must highlight the fact that this pair has been following the bearish bias for several weeks. So, it's normal to see these corrective movements. The MACD indicator remains in the positive territory.
H4chart's resistance levels: 1.5951 / 1.6004
H4chart's support levels: 1.5874 / 1.5811
More analysis - at instaforex.com
Daily analysis of major pairs for November 13, 2014
EUR/USD: Unlike the Cable, the EUR/USD pair has not traded downwards significantly, though the overall bias has been bearish. As long as the price is below the support line at 1.2500, it would be assumed that the bearish outlook is intact. It is now either the price breaks the support line at 1.2400 or breaks the resistance line at 1.2500 to the upside.
More analysis - at instaforex.com
Technical analysis of Silver for November 14, 2014
Technical outlook and chart setups:
Silver has dropped towards $25.30 levels for now. Please note that the current levels is the fibonacci 0.618 support of the rally from $15.00 to $15.80 levels last week. A bullish reversal here would warrant a bullish setup against $15.00. It is recommended to remain long for now, and also look to add positions on a bullish bounce at these levels, risk remains just below $15.00. Interim support is seen at $15.00, followed by $4.60 while resistance is seen at $16.20, followed by $17.50, $17.80/18.00 and higher respectively. Bills to regain control till prices stay above the $15.00 mark.
Trading recommendations:
Remain long, stop at $14.75, target is open.
More analysis - at instaforex.com
Technical analysis of Gold for November 17, 2014
Technical outlook and chart setups:
Gold has rallied to $1,195.00 levels in last 2 trading sessions. The metal could still have room left on the higher side. $1,207.00 looks like the next potential immediate target. It is recommended to hold long positions and move risk to $1,145.00. As seen here, the $1,207.00 is a potential resistance and also fibonacci convergence level. A bearish reaction there should be watched for a potential down trend resumption. Immediate support is at $1,145.00, followed by $1,130.00 while resistance is seen at $1,207.00, followed by $1,230.00/35.00, $1,250.00/55.00 and higher respectively.
Trading recommendations:
Remain long, stop at $1,145.00, target is $1,207.00.
More analysis - at instaforex.com
Daily analysis of GBP/USD for November 18, 201
The GBP/USD pair continues to find support on the bearish trend line at the level of 1.5635, which is prompting the pair to strengthen the current bearish trend on H4 chart. However, the GBP/USD pair could form a double bottom pattern to rise again to the resistance level of 1.5698. The aforesaid movement may be a corrective move in favor of the bearish trend and the following objective remains at the support level of 1.5512. The MACD indicator remains in the positive territory.
H4chart's resistance levels: 1.5698 / 1.5811
H4chart's support levels: 1.5600 / 1.5512
More analysis - at instaforex.com
Daily analysis of major pairs for November 19, 2014
EUR/USD:
This market also shows protracted efforts by bulls to push the price upwards, as bearish pulls are being rejected. A movement above the resistance line at 1.2600 would mean the end of the bearish bias, leading to a Bullish Confirmation Pattern in the market.
More analysis - at instaforex.com