InstaForex Wave Analysis - page 195
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Elliott wave analysis of EUR/NZD for March 30 - 2015
Technical summary We are still looking for a close above the resistance line on the 4-hourly chart to confirm that a series of wave three is developing for a rally towards at least 1.4595. In the short term, a break above minor resistance at 1.4397 is going to be the first indication that resistance at 1.4495 is likely to be challenged again and a break above here should bring an acceleration higher than we are looking for. Only an unexpected break below support at 1.4287 will confuse the overall bullish picture.
Trading recommendation: We are long EUR from 1.4335 and will place our stop at 1.4275
More analysis - at instaforex.com
Daily analysis of USDX for April 06, 2015
The daily chart continues to show us a corrective phase of the USDX, as the index continues to move in favor of the bearish side but a corrective one as we mentioned above. The next floor or support zone is located at the level of 96.60, where we could expect a rebound to the resistance zone around 98.01. By the way, the bullish outlook is still alive. The USDX started this week with a deep bearish gap, which is now looking for support at the level of 96.54, more than 100 pips of empty zone. Now, the nearest resistance level is located around 97.08, where the USDX could begin to form a bullish pattern in order to reach the 200 SMA on the H1 chart. But the Index is still with the downside risk in the short term.
Daily chart's resistance levels: 98.01 / 99.12
Dailychart's support levels: 96.60 / 95.19
H1 chart's resistance levels: 97.08 / 97.30
H1 chart's support levels: 96.54 / 96.25
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 97.08, take profit is at 97.30, and stop loss is at 96.85.
More analysis - at instaforex.com
Technical analysis of Silver for April 07, 2015
Technical outlook and chart setups:
Silver has dropped below the level of $17.00 as we discussed and expected earlier. The metal could still be unfolding its counter trend correction and push lower towards $16.00 before resuming rally. It is recommended to remain short with risk at the levels $17.50/60. A drop below $16.60 from here is likely to confirm the same. Immediate support is seen at $16.50/60 followed by $15.80 and lower, while resistance is seen at $17.40/50 followed by $17.80/85 and higher respectively. Bears are expected to remain in control untill prices stay below $17.40/50.
Trading recommendations:
Remain short, stop at $17.50/60, target $16.00.
More analysis - at instaforex.com
Technical analysis of EUR/JPY for April 08, 2015
Technical outlook and chart setups: The EUR/JPY pair is seen to be supported well around the level of 130.00 for now. The pair is seen to initiate/resume rally higher, and a break above 131.50 is likely to encourage bulls to go forward. It is hence recommended to initiate 50% positions now with risk at 128.50. Immediate support is seen at 128.50 followed by 128.00, 127.00, and lower, while resistance is seen at 131.50 followed by 133.00 and higher respectively. Bulls shall look to remain in control untill prices stay above 128.50.
Trading recommendations: Initiate 50% long positions, stop at 128.50, target is open.
More analysis - at instaforex.com
Technical analysis and trading recommendation for Gold for April 10, 2015
The yellow metal has been extending its losses for three consecutive days. The US dollar rebounded from the lower levels, which dampened the momentum of the metal. After the FOMC minutes, the metal broke the 50Dsma and closed below that. At the FOMC meeting, several participants judged that economic data and outlook were likely to warrant normalization. However, others anticipated that the effects of lower energy prices and the depressed dollar would continue to weigh on inflation in the near term, suggesting that conditions are unlikely to be appropriate for rates hike until later in the year. A couple of participants suggested that the economic outlook would not call for any increase until 2016. Eventually, the interest rate hike is imminent, but the matter is when it comes true. The interest rate hike has a negative influence on the metal. Today, the metal successfully held the previous day's low at the Asian session. Prices are consolidating at $1,192.00 for a day. Below this, 20Dsma is likely to appear at $1,187.00. The trend-change decider level is found at $1,178.00. In case of a daily close below $1,178.00, the current upswing will be cancelled. Intraday support is found at $1,192.00. We recommend selling below $1,192.00 with immediate target at $1,188.00, below $1,187.00 we can expect $1,180.00 and $1,178.00. The panic is going to be triggered below $1,178.00. In the H4 chart, the price fell below the ascending trend line and closed below that. In the hourly chart, we can observe lower highs and lower lows formation. Until the price closes below $1,206.00, the near term favors bears. Trade: Selling below $1,192.00 targets $1,188.00, $1,180.00 and $1,179.00
More analysis - at instaforex.com
Daily analysis of the USDX
There is a huge bullish momentum in place on the daily chart, because the USDX is back above the support level of 99.12 now, prepearing for a rally towards the resistance level at 100.51, which is an important one in this time frame. Bulls are strong and we recomment to find bullish patterns at lower time frames to ride this trend.
At the H1 chart, the USDX did an interesting bullish move after two higher high patterns formed on the way. Now, the Index is looking to consolidate above the resistance level of 99.55, in order to reach the psycological level of 100.00 in the nearest term. Also, this view is supported by the current position of the 200 SMA, which is bullish.
Daily chart's resistance levels: 100.51 / 101.95
Dailychart's support levels: 99.12 / 97.83
H1 chart's resistance levels: 97.75 / 98.00
H1 chart's support levels: 97.30 / 97.08
Trading recommendations for today:
Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 100.51, take profit is at 101.95, and stop loss is at 99.00.
More analysis - at instaforex.com
Daily analysis of major pairs for April 13, 2015
EUR/USD: This pair is very weak right now, owing to a deep weakness in EUR and a great strength of USD. In fact, EUR is one of the weakest currencies among the majors and so are most EUR pairs. A rally of 400 pips is significant enough to result in a clean Bearish Confirmation Pattern and further plunge is expected this week.
More analysis - at instaforex.com
Technical analysis of USD/JPY for April 14, 2015
In Asia, Japan is not expected to release any economic data. But the US will publish data on Business Inventories m/m, NFIB Small Business Index, Core PPI m/m, Retail Sales m/m, PPI m/m, and Core Retail Sales m/m. 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: 120.51.
Resistance. 2: 120.28.
Resistance. 1: 120.04.
Support. 1: 119.76.
Support. 2: 119.52.
Support. 3: 119.28.
More analysis - at instaforex.com[
Technical analysis of USD/JPY for April 16, 2015
In Asia, Japan is not expected to release any ecnomic data. The US will publish data on Natural Gas Storage, Philly Fed Manufacturing Index, Housing Starts, Unemployment Claims, and Building Permits. So, there is a strong probability that the USD/JPY will move with low volatility during the Asian session but with low to medium volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 119.52.
Resistance. 2: 119.29.
Resistance. 1: 119.05.
Support. 1: 118.78.
Support. 2: 118.54.
Support. 3: 118.30.
More analysis - at instaforex.com
USDX technical analysis for April 17, 2015
The Dollar index continued to show signs of weakness. The price is pulling back down towards last weeks lows at 96.20. Support is being tested now at 97.05 and we should see an upward reversal or a deep correction soon.
More analysis - at instaforex.com