InstaForex Wave Analysis - page 200
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Technical analysis of EUR/USD for June 24, 2015
When the European market opens, economic data on Belgian NBB Business Climate is due.The US will release data on Crude Oil Inventories, Final GDP Price Index q/q, anf Final GDP q/q. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1227.
Strong Resistance:1.1221.
Original Resistance: 1.1210.
Inner Sell Area: 1.1199.
Target Inner Area: 1.1173.
Inner Buy Area: 1.1148.
Original Support: 1.1136.
Strong Support: 1.1126.
Breakout SELL Level: 1.1120.
More analysis - at instaforex.com
Daily analysis of GBP/USD for June 25, 2015
GBP/USD was moving in a bearish trend during yesterday's session as we can see on daily chart. Now it's looking for an opportunity to fall to the 200 SMA. Anyway, if that happens, GBP/USD will remain bullish in our mid-term outlook as long as it stays above that moving average. However, if the pair does a breakout at the resistance level of 1.5775, it will reach the level of 1.5898.
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Technical analysis of USD/JPY for June 25, 2015
USD/JPY is expected to trade in a lower range. It is undermined by the flows to the safe-haven yen amid increased risk aversion (VIX fear gauge rose 9.5% to 13.26, S&P 500 closed 0.74% lower at 2,108.58 overnight) on renewed worries over Greece's debt crisis. After a list of economic measures, Greece said it was willing to undertake in exchange for financial aid, was rejected. USD/JPY is also weighed by lower US Treasury yields (10-year slipped 3.7 bps to 2.372% Wednesday) and Japan's exports. But USD sentiment is soothed as the US Q1 GDP was revised to -0.2% from previous estimate of -0.7%. USD/JPY losses are also tempered by the demand from the Japanese importers and the Bank of Japan's ultra-loose monetary policy.
Technical comment: The daily chart is mixed as stochastics is rising from oversold levels but the MACD is bearish, bearish shooting-star candlestick pattern was completed on Wednesday.
Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 124.60 and the second target at 125. In the alternative scenario, short positions are recommended with the first target at 123.30 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 122.95. The pivot point is at 124.15.
Resistance levels: 124.60 125 125.45
Support levels: 122.30 122.95 122.55
More analysis - at instaforex.com
Technical analysis of EUR/USD for June 29, 2015
When the European market opens, economic data on the Spanish Flash CPI y/y and German Prelim CPI m/m is due. The US will release economic data on the Pending Home Sales m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1028.
Strong Resistance:1.1022.
Original Resistance: 1.1011.
Inner Sell Area: 1.1000.
Target Inner Area: 1.0975.
Inner Buy Area: 1.0950.
Original Support: 1.0939.
Strong Support: 1.0928.
Breakout SELL Level: 1.0922.
More analysis - at instaforex.com
Daily analysis of GBP/USD for June 30, 2015
GBP/USD closed the bearish gap. On the daily chart, we still can observe a test at the resistance level of 1.5755 and if the pair does a breakout over there, it would be expected to test the next key high around the level of 1.5898. Also, bulls are getting stronger, but bear in mind the current situation in Greece. At the H1 chart, GBP/USD has been trading sideways, but remains above the 200 SMA. The current situation in Greece makes us think about the possibility to take long positions at this stage. GBP/USD is expected to rally towards new highs, as 200 SMA provides dynamic support, but be cautious anyway.
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EUR/JPY Intraday Technical Analysis
In Asia, Japan will release the Final Manufacturing PMI, Tankan Non-Manufacturing Index, and Tankan Manufacturing Index. The US is expected to unveil data on Total Vehicle Sales, Crude Oil Inventories, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, ADP Non-Farm Employment Change, and Challenger Job Cuts y/y. So, there is a strong probability that USD/JPY will move with a low to medium volatility during the Asian session, but with a medium volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 123.17.
Resistance. 2: 122.93.
Resistance. 1: 122.69.
Support. 1: 122.40.
Support. 2: 122.16.
Support. 3: 121.92.
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Technical analysis of GBP/CHF for July 02, 2015
Technical outlook and chart setups: The GBP/CHF pair is trading around 1.4770 after testing resistance at 1.4800 levels yesterday. Please note that the pair has produced a bearish evening star candlestick pattern indicating a potential pullback lower. It seems that the first leg of a rally from the level of 1.4150 havebeen finished and a corrective drop towards 1.4400 should take place soon. It is recommended to remain short with risk at 1.4830. Immediate support is seen at 1.4500/50 followed by 1.4400 and lower. Resistance is seen at 1.4800 and higher respectively.
Trading recommendations: Remain short for now, stop is at 1.4830, a target is 1.4400.
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Daily analysis of major pairs for July 6, 2015
EUR/USD: The market is berish now and the price is expected to continue going further downwards. It should be able to test at least the support level of 1.1000 and 1.0950 this week. Only a movement above the resistance line at 1.1400 could render this expectation invalid.
USD/CHF: Following the severe bearish plunge that happened on June 29, the USD/CHF pair has vividly rallied. The price has gone upwards by 250 pips from the support level at 0.9250, testing the resistance level at 0.9500. There is currently a shallow bearish retracement in the market but the resistance level of 0.9500 could be tested again, and eventually breached to the upside. When the price goes below the support of 0.9250, the existing bullish outlook would be useless.
GBP/USD: As forecasted, the GBP/USD pair broke below the distribution territory of 1.5650 testing the recalcitrant accumulation territory around 1.5600. The recent equilibrium phase is over, and it has resulted in a Bearish Confirmation Pattern. There is a possibility that this is the beginning of a protracted downtrend.
USD/JPY: The USD/JPY pair provides short-term traders and scalpers with an opportunuty to thrive. There have been short-term swings in the market as the oscillates between the supply level of 124.00 and the demand level of 122.00. The market calls for a break above the aforementioned supply level or demand level before there could be strong directional movement.
EUR/JPY: We expext significant strengthening in the euro to cause the instrument to skyrocket this week; whereas, any serious weakness in the euro would cause it to plummet.
More analysis - at instaforex.com
Daily analysis of GBP/USD for July 07, 2015
GBP/USD found bottom around the 200 SMA on the daily chart and now we could expect some kind of rebound over there in order to reach the resistance level of 1.5755. However, if the pair does a breakout at the support level of 1.5543, it would be expected to test a low around 1.5450. The MACD indicator is still at negative territory.
More analysis - at instaforex.com