InstaForex Wave Analysis - page 206
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Daily analysis of GBP/USD for September 23, 2015
On the daily chart, GBP/USD continues to move lower across the support zone of 1.5344, where we should expect a rebound towards resistance zone of 1.5479. Currently, the bearish bias looks strong enough to reach another low below the support level of 1.5344 and pointing to the level of 1.5256. The MACD indicator is entering the neutral territory.
The intraday structure is still calling for more downside, because the cable is forming a lower low pattern below the 200 SMA on the H1 chart and the resistance level of 1.5417. A breakout below 1.5341 will push the pair to the level of 1.5285. The 200 SMA is currently moving in a bearish direction.
Daily chart's resistance levels: 1.5479 / 1.5559
Daily chart's support levels: 1.5344 / 1.5256
H1 chart's resistance levels: 1.5417 / 1.5468
H1 chart's support levels: 1.5341 / 1.5285
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5417, take profit is at 1.5468, and stop loss is at 1.5364.
More analysis - at instaforex.com
Daily analysis of GBP/USD for September 24, 2015
GBP/USD is headed lower making new downside moves below the resistance level of 1.5256. It is expected to form a lower low pattern by the end of the week. Currently, our outlook remains bearish towards the support zone of 1.5169, where a rebound should happen in order to correct the current decline.
On the H1 chart, the pair is showing a bearish consolidation in place below the 200 SMA and this indicator is also pointing to the downside. A breakout below the support level of 1.5223 will enable the pair to test the level of 1.5166 in coming hours. The MACD indicator is entering the neutral territory.
Daily chart's resistance levels: 1.5256 / 1.5344
Daily chart's support levels: 1.5169 / 1.5030
H1 chart's resistance levels: 1.5285 / 1.5341
H1 chart's support levels: 1.5223 / 1.5166
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.5223, take profit is at 1.5166, and stop loss is at 1.5283.
More analysis - at instaforex.com
Technical analysis of EUR/USD for September 25, 2015
When the European market opens, some economic news will be released such as Private Loans y/y and M3 Money Supply y/y. The US will also release the economic reports such as the Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Flash Services PMI, Final GDP Price Index q/q, and 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: 1.1234.
Strong Resistance:1.1228.
Original Resistance: 1.1217.0
Inner Sell Area: 1.1206.
Target Inner Area: 1.1180.
Inner Buy Area: 1.1154.
Original Support: 1.1143.
Strong Support: 1.1132.
Breakout SELL Level: 1.1126.
More analysis - at instaforex.com
Elliott wave analysis of EUR/JPY for September 28, 2015
Technical summary:
We are entering the final part of the decline from 141.06. Continue to look for a decline closer to 131.45 before a new impulsive rally takes place. In thr short term, we will be looking for a breakout below minor support at 134.75 as the first good indication that the move closer to 131.45 is developing, while a break below support at 134.10 will confirm the decline. Only an unexpected breakout above resistance at 136.03 will confirm that the bottom is already in place for renewed upside pressure.
Trading recommendation: Our stop at 134.95 was hit, but we will sell EUR again upon a break below 134.75 with stop placed at 135.50 and take profit at 131.65.
More analysis - at instaforex.com
Technical analysis of EUR/USD for September 29, 2015
When the European market opens, economic news about the Italian 10-y Bond Auction, Spanish Flash CPI y/y, German Prelim CPI m/m, and German Import Prices m/m is due to be released.The US will unveil economic data on the CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, and Goods Trade Balance. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1284.
Strong Resistance:1.1278.
Original Resistance: 1.1267.
Inner Sell Area: 1.1256.
Target Inner Area: 1.1230.
Inner Buy Area: 1.1204.
Original Support: 1.1193.
Strong Support: 1.1182.
Breakout SELL Level: 1.1176.
More analysis - at instaforex.com
Technical analysis of USD/JPY for September 30, 2015
In Asia, Japan will release the Housing Starts y/y, Prelim Industrial Production m/m, and Retail Sales y/y. The US will publish economic data on Crude Oil Inventories, Chicago PMI, and ADP Non-Farm Employment Change. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with medium to high volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 120.56.
Resistance. 2: 120.33.
Resistance. 1: 120.09.
Support. 1: 119.80.
Support. 2: 119.56.
Support. 3: 119.33.
More analysis - at instaforex.com
Elliott wave analysis of EUR/NZD for October 1 - 2015
Technical summary:
We have seen a breakout below 1.7453, which was quite unexpected and that has shifted the picture from a potential bullish count to a bearish calling for more downside toward 1.6781 where this correction will have corrected 38.2% of a rally from 1.3881 to 1.8554. In the short term, we expect minor resistance at 1.74994 to protect the upside for a decline to 1.7070.
Trading recommendation:
Our stop at 1.7450 was hit for a small loss, We will sell EUR at 1.7480 with stop placed at 1.7580.
More analysis - at instaforex.com
Technical analysis of EUR/USD for October 02, 2015
When the European market opens, some economic news on the PPI m/m and Spanish Unemployment Change is due to be released. The US is expected to publish economic data on Factory Orders m/m, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So amid the reports, EUR/USD will move with medium to high volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1245.
Strong Resistance:1.1240.
Original Resistance: 1.1229.
Inner Sell Area: 1.1218.
Target Inner Area: 1.1192.
Inner Buy Area: 1.1166.
Original Support: 1.1155.
Strong Support: 1.1144.
Breakout SELL Level: 1.1138.
More analysis - at instaforex.com
Elliott wave analysis of EUR/NZD for October 5, 2015
Technical summary:
Prices spiked higher on Friday due to the weak Non Farm Payrolls data, but only to resume an underlying decline towards at least a 38.2% corrective target at 1.6781. In the short term, we are watching for a break below 1.7294 (the bottom of wave i of C) to confirm wave iii moving lower to at least 1.7028. At this point, only an unexpected rally above 1.7650 will question the underlying bearish count.
Trading recommendation:
Our stop at 1.7580 was hit due to a price spike on Friday, but we remain bearish and still see a nice downside potential. So, we will like to short EUR at 1.7530 with a stop at 1.7660.
More analysis - at instaforex.com
Technical analysis of USD/JPY for October 06, 2015
In Asia, Japan is not expected to release any economic data, but the US will deliver economic news on the IBD/TIPP Economic Optimism and Trade Balance. So, there is a strong probability that USD/JPY will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 121.12.
Resistance. 2: 120.88.
Resistance. 1: 120.64.
Support. 1: 120.35.
Support. 2: 120.11.
Support. 3: 119.87.
More analysis - at instaforex.com