InstaForex Wave Analysis - page 194
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Technical analysis of USD/JPY for March 11, 2015
In Asia, Japan will release the PPI y/y and core machinery orders m/m. The US is expected to release some economic data about bank stress test results, the Federal budget balance, and results of 10-year bond auction. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during the day.
TODAY TECHNICAL LEVELS: Resistance. 3: 121.90. Resistance. 2: 121.66. Resistance. 1: 121.42. Support. 1: 121.13. Support. 2: 120.89. Support. 3: 120.65.
More analysis - at instaforex.com
Technical analysis of USD/JPY for March 17, 2015
In Asia, Japan will release the results of the BOJ press conference and monetary policy statement. The US is expected to publish economic data about housing starts and building permits. So, there is a big probability that the USD/JPY pair will move with low to medium volatility during the day.
TODAY TECHNICAL LEVELS: Resistance. 3: 122.07. Resistance. 2: 121.83. Resistance. 1: 121.60. Support. 1: 121.31. Support. 2: 121.07. Support. 3: 120.83.
More analysis - at instaforex.com
Technical analysis and trading recommendation of GBP/YEN for March 18, 2015
After release of the BoJ monetary policy meeting minutes, the yen was trading higher against the pound. The cross erased its Monday's gains. It has been consolidating near the fate/fortune level. It's a big day for the US and UK. At the today's Asian session, the pound is trading higher against USD and JPY ahead of crucial big data. The cross is trading in the support zone around 177.95 and 177.80, 200Dema, and 200Dsma respectively. Monthly support is found at 176.70 50Wsma. Weekly resistance is seen at 181.50 and 181.65. The panic will be triggered in case the price closes below 177.80. The cross closes below 50Dsma, so the near and short-term outlooks remain bearish. On a weekly basis, the cross closes below 20Wsma and is trading below it. Until the price closes below 180.50, the bearish view remains in play. Intraday resistance is seen at 179.50. Intraday support is found at 179.60 and 179.10. Trade: selling below 179.60 with targets at 179.10,178.90 and 178.70. Panic below 177.80. Levels to watch- 177.95 177.80 last hope at 177.60. These are valid for this week.
More analysis - at instaforex.com[
Technical analysis of EUR/USD for March 20, 2015
When the European market opens, economic data on the EU Economic Summit, Current Account, German PPI m/m are due for release. The US will not release any economic data today. So amid the reports, EUR/USD will move in low volatility during this day.
TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.07.21 Strong Resistance:1.0714. Original Resistance: 1.0704. Inner Sell Area: 1.0694. Target Inner Area: 1.0669. Inner Buy Area: 1.0644. Original Support: 1.0634. Strong Support: 1.0624. Breakout SELL Level: 1.0617.
More analysis - at instaforex.com
Elliott wave analysis of EUR/NZD for March 23, 2015
Technical summary: The decline from 1.4631 (the top of wave iv) has already broken below a low of wave iii at 1.4289 confirming that wave v lower to 1.4079 is unfolding. In the short term, the minor resistance at 1.4340 should protect the upside for a decline towards 1.4079. A break above 1.4340 is going to confuse the picture, but only a break above resistance at 1.4425 is likely to indicate that the bottom is in place.
Trading recommendation: We are short EUR from 1.4545 and will move our stop lower to 1.4345. We are late in the decline, but it should be possible to sell near 1.4300 with a stop place at 1.4345 for a decline to 1.4079.
More analysis - at instaforex.com
Daily analysis of major pairs for March 24, 2015
EUR/USD: This pair moved upwards by 150 pips on Monday, hitting the resistance line at 1.0950 before a shallow pullback. The resistance line would be overcome soon as the market targets another resistance line at 1.1000, which may also be breached easily as the market continues to be strong.
More analysis - at instaforex.com
Technical analysis of USD/JPY for March 26, 2015
In Asia, Japan is not going to release any economic data. However, the US is expected to publish data on Natural Gas Storage, the flash services PMI, and the number of unemployment claims. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 119.96.
Resistance. 2: 119.73.
Resistance. 1: 119.49.
Support. 1: 119.20.
Support. 2: 118.97.
Support. 3: 118.73.
More analysis - at instaforex.com
Technical analysis of NZD/USD for March 27, 2015
Overview: The NZD/USD pair is likely to continue straight from 0.7515. Support at 0.7515 coincides with ratio of 00% Fibonacci retracement level in the H1 chart. Additionally, it is probably going to form a double bottom at the same level. Therefore, the kiwi shows signs of strength following the break through the highest levels of 0.7515 and 0.7550. So, it is going to be a good sign to buy above the support levels of 0.7515 and 0.7550 with the first target at 0.7603 in order to retest a weekly pivot point and further 0.9636 (it will act as strong resistance, it is going to be a good place to take profit, it also should be noted that the level to take profit will coincide at 88.2% of Fibonacci at the same time frame). It should be noted that another resistance is set at the level of 0.7696, which represents the double bottom. However, in case a reversal takes place and the NZD/USD pair breaks through the support level at 0.7550, the market will be led to further decline to 0.7466 in order to indicate the bearish market on March 27, 2015.
More analysis - at instaforex.com
Euro Area Is Gaining Momentum
Recent euro-area data releases have consistently surprised to the upside, adding to evidence that the region's recovery is gaining momentum, according to Standard Chartered research notes. Consumption and net exports are likely to be driving growth in Q1, when GDP growth could reach as high as 0.5% q/q, and the conditions are in place for a sustained investment improvement after a prolonged downturn. The euro-area PMI composite has risen to 54.1 in March, the highest since May 2011. France and Italy remain the weakest major economies, but there are bright spots in both countries, with GDP growth likely to pick up from a dismal Q4-2014 in both cases. Meanwhile, Germany is off to a strong start and is likely to pull along some of its smaller neighbours. German companies are benefitting from a more competitive euro, and across the euro area growth of new orders for goods exports has hit an eight-month high, according to Markit. Consumption is also strengthening. Euro-area retail sales were up 3.7% y/y in January, the strongest annual increase since 2005. Consumer confidence is at the highest level since 2007 on the back of higher real disposable incomes, due to stronger earnings growth, the lower oil price and generally low inflation. Meanwhile Germany's labour market is strong, and immigration and a higher minimum wage should boost consumer spending. Across the euro area unemployment is falling, albeit from high levels in some countries. Bank lending data also point to a more supportive growth environment. The downtrend of loans to non-financial corporations (adjusted for sales and securitisation) eased further, reaching -0.4% y/y in February. Standard Chartered research forecasts that "this trend will continue and we will very soon see positive y/y growth in loans to corporations. Loans to households, which usually recover earlier than loans to corporations, were up 1% y/y in February, continuing the uptrend that begun around the middle of 2014. Moreover, the third targeted long-term refinancing operation (TLTRO) take-up was strong at EUR 97bn, a signal that banks expect demand for loans to pick up. TLTRO loans are particularly helpful for banks in the periphery." Greece, which was one of the best performers in 2014, has deteriorated very fast due to political uncertainty. The key risk for the euro area's recovery remains a sentiment deterioration, either over Greece or eastern Ukraine. Ongoing reform discussions with Greece are reaching a critical stage, with Athens due to run out of money over the next month unless bailout funds are released. In Ukraine, tensions have deescalated since the truce, but the situation remains sensitive
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Euro Area Is Gaining Momentum
Recent euro-area data releases have consistently surprised to the upside, adding to evidence that the region's recovery is gaining momentum, according to Standard Chartered research notes. Consumption and net exports are likely to be driving growth in Q1, when GDP growth could reach as high as 0.5% q/q, and the conditions are in place for a sustained investment improvement after a prolonged downturn. The euro-area PMI composite has risen to 54.1 in March, the highest since May 2011. France and Italy remain the weakest major economies, but there are bright spots in both countries, with GDP growth likely to pick up from a dismal Q4-2014 in both cases. Meanwhile, Germany is off to a strong start and is likely to pull along some of its smaller neighbours. German companies are benefitting from a more competitive euro, and across the euro area growth of new orders for goods exports has hit an eight-month high, according to Markit. Consumption is also strengthening. Euro-area retail sales were up 3.7% y/y in January, the strongest annual increase since 2005. Consumer confidence is at the highest level since 2007 on the back of higher real disposable incomes, due to stronger earnings growth, the lower oil price and generally low inflation. Meanwhile Germany's labour market is strong, and immigration and a higher minimum wage should boost consumer spending. Across the euro area unemployment is falling, albeit from high levels in some countries. Bank lending data also point to a more supportive growth environment. The downtrend of loans to non-financial corporations (adjusted for sales and securitisation) eased further, reaching -0.4% y/y in February. Standard Chartered research forecasts that "this trend will continue and we will very soon see positive y/y growth in loans to corporations. Loans to households, which usually recover earlier than loans to corporations, were up 1% y/y in February, continuing the uptrend that begun around the middle of 2014. Moreover, the third targeted long-term refinancing operation (TLTRO) take-up was strong at EUR 97bn, a signal that banks expect demand for loans to pick up. TLTRO loans are particularly helpful for banks in the periphery." Greece, which was one of the best performers in 2014, has deteriorated very fast due to political uncertainty. The key risk for the euro area's recovery remains a sentiment deterioration, either over Greece or eastern Ukraine. Ongoing reform discussions with Greece are reaching a critical stage, with Athens due to run out of money over the next month unless bailout funds are released. In Ukraine, tensions have deescalated since the truce, but the situation remains sensitive
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