InstaForex Wave Analysis - page 196
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Technical analysis of EUR/USD for April 20, 2015
When the European market opens, economic data on German Buba Monthly Report and German PPI m/m are due for release.The US will not publish any economic data. So, EUR/USD will move low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.0861.
Strong Resistance:1.0855.
Original Resistance: 1.0844.
Inner Sell Area: 1.0833.
Target Inner Area: 1.0808.
Inner Buy Area: 1.0783.
Original Support: 1.0772.
Strong Support: 1.0761.
Breakout SELL Level: 1.0755.
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Technical analysis and trading recommendation for EUR/USD for April 21, 2015[
In March 2015, theGerman Producer Price Index for industrial products fell by 1.7% compared with the corresponding month of the preceding year. In February 2015, the annual rate of changes all over was �2.1%. The euro edged lower against USD at yesterday's session. The pair rejected at 20Dsma and closed below that. The nearest strong support is found at 1.0700 rounded and 1.0680 34hrsma.Concerns over Greek issue added the new factor into the bearish view. The euro is likely to remain under pressure on the back of growing concerns about Greece as no agreements between Greece and its creditors had been reached. The Greek exit from the eurozone is the most likely scenario. The euro group of finance ministers meets this Friday on April 24. Bulls' last hope exists between 1.0690-1.0680. Sustaining below these levels leads to a fresh new low. Eventually, the euro looks weak moving towards 0.9000 against USD. Intraday: The pair erased a higher low and higher high strategy in the hourly chart. The hourly resistance is seen at 1.0770. The intraday strategy favors bears with sl 1.0770 and targets at 1.0700, 1.0680 1.0650, and 1.0625. The strong sell will emerge below 1.0680 towards 1.0650 and 1.0625 immediately. Today, traders eye on ZEW German economic sentiment and ZEW economic sentiment. At February and March, the German ZEW readings are in negative mode. We expect the same bias in April as well. But the ZEW economic sentiment has been ticking up for five consecutive months. From November 2014, onwards the readings turned to a positive note. In April, we expect positive readings. In this case, we recommend buying above 1.0780 with targets at 1.0800, 1.0820, and 1.0845.
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Daily analysis of major pairs for April 22, 2015
EUR/USD: The bearish run started on Monday nearly rendered the recent bullish outlook useless, but the price was able to shrug off further bearish sentiment, going above the EMA 56. The recent bullish outlook is supported and further northward movement may lead to more support for the bullish outlook.
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Technical analysis and trading recommendation of GBP/USD for April 23, 2015
The Monetary Policy Committee meeting held on 8 and 9 April 2015. A fall in energy prices had been the largest single contributor to declines in headline inflation in the United Kingdom and in many other countries since summer 2014. The Committee set monetary policy to meet the 2% inflation target in the medium term and in a way that helped to sustain growth and employment. The Committee's guidance on the likely pace and extent of interest rate rises was an expectation, not a promise. Before the general election on May 07, 2015 the BoE officials voted unanimously to keep interest rate at 0.5%. Until the new government has been formed we cannot expect news from the monetary policy committee. Today, traders eye on the UK retail sales. The March readings gave an optimistic look on the retail sale. Technical view: The pound surged against USD towards 50Dsma. At yesterday's session, the cable breached the 50dsma in intraday, but was unable to close above that. The pound is trading at 1.5024 at Thursday's Asia's session; compare to 1.5037 Wednesday's closing. In the four-hour chart, the cable has been making bullish inverse head and shoulder pattern. The price has been trading at the verge of the breakout. At yesterday's session, the cable exactly rejected the upper end of the neckline. In case, if the price taken out the neckline we can expect further bullish bias towards 1.5160 March 18 high initially. Intraday support finds at 1.5010. We recommend selling below 1.5000 with targets at 1.4975 and 1.4940. The 34hrsma finds at 1.4935 below this 1.4850 is the major support for coming days. On the higher side, we recommend buying above 1.5080 with targets at 1.5100, 1.5150, and 1.5160 initially, and at 1.5190 and 1.5210 later.
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Technical analysis and trading recommendation for EUR/USD for April 24, 2015
The euro paused its 3-day losing streak gave a strong pullback towards the resistance zone. After the dismissal PMI data, the euro slipped towards 1.0666 made a double bottom at 1.0660 flew to the previous swing high 1.0850. The pair rejected at the resistance level, managed to close at 1.0824. The price has been consolidating 190 pips between 1.0660 and 1.0850. A side breakout is likely to provide room for trade. The double top and double bottom was place between the tight ranges. The soft US data helped the pair to move higher. Developments in Greece helped the euro to strengthen. Greek Prime Minister says "Group of negotiations with Brussels has made "significant progress" will soon reach an agreement for optimism". French and German PMI data was disappointed in April compared to data released in March. At today's Asian session, the euro is trading at 1.0808 against USD compared to the previous day close 1.0824. Ahead of today's major event, the Eurogroup's meeting, the euro is trading lower against USD. Intraday support is found at 1.0800. The support level at 1.0750 is the key driver for today's session. We recommend intraday selling below 1.0790 with targets at 1.0750, 1.0720, 1.0700, and 1.0670. The 61.8 fib expansion level of 1.0865 acts as intraday strong resistance. We recommend buying above 1.0870 with targets at 1.0890, 1.0950, and 1.0990. Whereas, 1.0910 50Ddsma acts as a major hurdle for bulls to cross for the next higher targets. Trade: Buying above 1.0870 Selling below 1.0790
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Technical analysis of Silver for April 27, 2015
Technical outlook and chart setups: Silver had dropped to the level of $15.60 on Friday but it recovered to $15.85 as seen here. The metal produced a bullish morning star pattern on the 4-hour chart view indicating a potential rally ahead. It is hence recommended to remain long with risk below $15.30. Bulls might be poised to drag prices higher until the metal remains above $15.30 from here on. A push through the levels of $16.00 would confirm the same. Immediate support is seen at $15.60 followed by $15.30/40 and lower, while resistance is seen at $16.00 followed by $16.40/50, $17.40/50, and higher respectively.
Trading recommendations: Remain long, stop is at $15.30, a target is open.
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Technical analysis and trading recommendation for GBP/USD for April 28, 2015
The UK economic weekly calendar started a bit slow. On Monday, the report on monthly CBI industrial trends survey was released. According to the report, the UK manufacturing advanced in three months. But the export orders remains contracted. Today, traders eye the GDP growth rate q/q. The forecast for the Q4 is 0.5%. In the Q3, it dropped to 0.5%. The UK is approaching the next big event. On May 07, 2015, general election should pressure the cable. From an April low of 1.4566 the cable managed to gain approximately 700 pips. The cable managed to close above 100Dema and 100sma. The cable managed to close above 20Wsma after 10months. Ahead of the big event, the FOMC meeting and general election, we expect wild moves. The strong resistance is seen at 1.5440 and 1.5560 200Dsma. The cable has found the weekly support at 1.5200. As we analyzed earlier, big moves are likely to be observed above 1.5000. We recommended to target 1.5185 and 1.5210 on Friday. Both targets were completed. The cable gave a bullish inverse head and shoulder break targeting 1.5340. Intraday view: Intraday support is found at 1.5200 and 1.5190. Resistance is seen at 1.5240 and 1.5270. We recommend buying above 1.5270 with targets at 1.5300 and 1.5340. On the downside, we recommend selling below 1.5190 with targets at 1.5160, 1.5110, and 1.5080. In the four-hour chart, 34hrsma is found at 1.5050 and 50Dsma is found at 1.5020. These are the key support levels to be hold by bulls to extend the rally.
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Daily analysis of major pairs for April 29, 2015[
EUR/USD: The EUR/USD pair has continued its upward journey moving further up by 110 pips on Tuesday. The bullish signal still has much room to run, and the resistance lines at 1.1000 and 1.1050 are the next targets. The euro is unlikely to lose its stamina in case it happens .
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Technical analysis and trading recommendation for EUR/USD for April 30, 2015
EUR/USD EURO:The annual growth rate of the broad monetary aggregate M3 increased to 4.6% in March 2015 from 4.0% in February 2015. The three-month average of the annual growth rates of M3 in the period from January 2015 to March 2015 increased to 4.1%, from 3.8% in the period from December 2014 to February 2015. The inflation rate in Germany is expected to be 0.4% in April 2015. Based on the results available so far, the Federal Statistical Office also reported that the consumer prices are expected to decline by 0.1% on March 2015. Upcoming data: The eurozone macro calendar offered a data-heavy day. Today, traders eye German retail sales data, French consumer spending, Spanish flash CPI on Y/Y, Spanish flash GDP q/q, Germany unemployment change, CPI flash estimate y/y, core CPI flash estimate y/y, and unemployment changes. Things should pick up rapidly by today however as we have a number of high-impact data releases to look forward to. We expect positive data from Germany and Spanish. The euro CPI and unemployment are likely to show positive readings as well. Technical view: The pair has been extending its bullish footprints for five consecutive days. The pair was rejected at 161.8 FE, 1.1191 in the daily chart. At yesterday's session, the pair made a high at 1.1188 but closed at 1.1128. Today, the pair opened on a bearish note. The euro is trading at 1.1115 against USD compared to Wednesday's close price of 1.1128. The pair managed to give a break on the upside in the strong supply zone around 1.1055 and closed above that. The immediate resistance was found at 1.1250 20Wsma. We expect the near-term cap between 1.1250 and 1.1315. As of now, the pair gained 380 pips with our correction. In case the price breaches above 1.1250 2Dsma, another strong resistance zone will be found at 1.1300 and 1.1315 10Dsma and 100Dema respectively. Technically speaking, until the price closes below 100dsma/ema, the bearish views remain in play. Bulls have only 100 to 150 pips on the upside. Further spikes will favor new sell trades with sl 1.1250 on a weekly closing basis or use sl 1.1315 and start selling. Intraday view:Intraday resistance is seen at 1.1191 and weekly resistance is seen at 1.1250. Intraday support is found at 1.1110 and 1.1067. Today and tomorrow's trading pattern is framed between 1.1030 and 1.1250. Either side break will provide further room to trade aggressively. The previous supply zone at 1.1030 and 1.1055 is currently acting as a support zone. For risky traders we recommend selling with sl 1.1129 for targets at 1.1070 and 1.1050. Panic will be triggered below 1.1030. In case German and European data print positive readings, we will recommend buying above 1.1130 with targets at 1.1150, 1.1190, 1.1230 whereas 1.1250 is the crucial trend-change level on a weekly closing basis. Trade: Selling with sl 1.1129 Buying above 1.1130
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USD/CHF Weekly Technical Levels for May 28 - 31, 2012
Technical outlook and chart setups: The EUR/JPY pair might be looking to target 137.00 levels before producing a meaningful retracement lower. The pair has clearly broken out of the resistance trend line as depicted here and entered into the buy zone for now. It is recommended to buy on dips from here on. Immediate support is seen at 131.50 levels, followed by 129.00, 127.50 and lower while resistance is seen at 136.00 levels, followed by 137.00 and higher respectively. The pair is expected to correct at least to 131.00 levels before resuming its rally.
Trading recommendations: Flat for now. Looking to buy on dips.
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