InstaForex Wave Analysis - page 207
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Elliott wave analysis of EUR/JPY for October 6 - 2015
Technical summary:
Yesterday , a breakout above 135.10 indicated that wave 2 ended at 132.23 and wave 3 higher was already developing. If this count is correct, support at 133.48 must protect the downside for a strong rally higher to at least 141.00 and possibly even higher. As wave (ii) of 3 was an expanded flat correction, we know that the likelihood of wave (iii) extending is very high. That means wave (iii) should be at least 161.8% times the length of wave (i). In the short term, we will ideally see support at 134.28, but we must accept the possibility of a deeper corrective decline from 135.71. A breakout below 133.48 will invalidate the bullish count.
Trading recommendation: We bought EUR at 135.10 and will place our stop at 133.45 expecting to raise it quickly. If you are not long EUR yet, buy EUR near 134.28 or upon a breakout above 135.71 using the same stop.
More analysis - at instaforex.com
Daily analysis of GBP/USD for October 07, 2015
On the daily chart, GBP/USD has been extending a rebound towards the resistance level of 1.5256. The cable is forming a lower low pattern and the current moves should be a preparation for a further decline.
The short-term outlook indicates recovery from after a fall held below the suport zone of 1.5166, and now GBP/USD is forming a higher high pattern above the 200 SMA in the H1 chart, in order to perform a rally towards the resistance level of 1.5285. However, we are still expecting an inminent breakout below the zone of 1.5223.
Daily chart's resistance levels: 1.5256 / 1.5325
Daily chart's support levels: 1.5169 / 1.5030
H1 chart's resistance levels: 1.5285 / 1.5342
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 1.5276.
More analysis - at instaforex.com
Daily analysis of GBP/USD for October 08, 2015
GBP/USD had a strong bullish momentum above support zone of 1.5169 and we could say that level is currently acting as a major bottom on the cable. Currently, we expect a breakout above the resistance level of 1.5325 in order to reach the level of 1.5381. However, a pullback around current levels will send this pair to test the zone of 1.5256.
On the H1 chart, GBP/USD has been performing a consolidation above the support level of 1.5285 with a higher high pattern formation. Also, a breakout above 1.5342 will open the door to the psychological zone of 1.5400. The 200 SMA is slightly pointing to the upside, but the MACD indicator is entering the negative territory.
Daily chart's resistance levels: 1.5325 / 1.5381
Daily chart's support levels: 1.5256 / 1.5169
H1 chart's resistance levels: 1.5342 / 1.5400
H1 chart's support levels: 1.5282 / 1.5223
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 1.5342, take profit is at 1.5400, and stop loss is at 1.5285.
More analysis - at instaforex.com
Technical analysis of EUR/USD for October 12, 2015
Today, no economic data is expected to be delivered from the European-London and US markets. So amid the reports, EUR/USD will move with low volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1422.
Strong Resistance:1.1415.
Original Resistance: 1.1404.
Inner Sell Area: 1.1393.
Target Inner Area: 1.1366.
Inner Buy Area: 1.1339.
Original Support: 1.1328.
Strong Support: 1.1317. Breakout SELL Level: 1.1310.
More analysis - at instaforex.com
Daily analysis of GBP/USD for October 13, 2015
On the daily chart, we should note the Monday session was a slow one because of the holidays in most of European countries and the US. GBP/USD has been trading below the resistance zone of 1.5381. Watch for a breakout higher during this week, in order to test the next interest level around 1.5439.
The pair continues to perform pullbacks after the opening bell and this should be an indicator of possible corrections, which could be extended towards the support level of 1.5285 where the 200 SMA is located. Over that zone, we can expect a rebound because of a bullish reaction.
Daily chart's resistance levels: 1.5381 / 1.5439
Daily chart's support levels: 1.5325 / 1.5256
H1 chart's resistance levels: 1.5342 / 1.5400
H1 chart's support levels: 1.5282 / 1.5223
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 seen at 1.5342, take profit is at 1.5400, and stop loss is at 1.5285.
More analysis - at instaforex.com
Technical analysis of EUR/USD for October 13, 2015
When the European market opens, economic news on the ZEW Economic Sentiment, German ZEW Economic Sentiment, German WPI m/m, and German Final CPI m/m is due to be released. The US will deliver economic data on the Federal Budget Balance and NFIB Small Business Index. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1408.
Strong Resistance:1.1401.
Original Resistance: 1.1390.
Inner Sell Area: 1.1379.
Target Inner Area: 1.1352.
Inner Buy Area: 1.1325.
Original Support: 1.1314.
Strong Support: 1.1303.
Breakout SELL Level: 1.1296.
More analysis - at instaforex.com
Elliott wave analysis of EUR/JPY for October 14, 2015
Technical summary:
We continue to watch for a continuation higher towards 141.00 over coming days/weeks. In the short term, we would like to find support at 135.63 to protect the downside for a break above minor resistance at 136.60 and more importantly above resistance at 136.95 for a continuation higher towards 138.10 as the ideal target for red wave iii. After a minor sideways consolidation, more upside room towards 141.00 would be expected. Only a breakout below 135.63 would question the upside expectations, but it will take a break below 134.62 to invalidate the bullish outlook.
Trading recommendation: We are long EUR from 135.10 with stop placed at 135.30. If you are not long EUR yet, buy near 136.00 or upon a break above 136.60, using the same stop at 135.30.
More analysis - at instaforex.com
Daily analysis of USDX for October 16, 2015
On the daily chart, the USDX is currently trying to stay above the 200 SMA, because a decline is no longer strong on a short-term basis. However, this scenario could change when the index manages to form a lower low pattern to reach new lows. A rebound at the current stage could send the USDX to the resistance level of 95.26.
The index is recovering from the losses on an intraday basis and now is facing the resistance level of 94.61. In case of a breakout, the USDX is likely to move towards 94.98, where the 200 SMA is located. At the current stage, we can expect a pullback, which should not extend more than above the range zone of 94.73.
Daily chart's resistance levels: 94.36 / 95.26
Daily chart's support levels: 93.16 / 92.33
H1 chart's resistance levels: 94.61 / 94.98
H1 chart's support levels: 94.15 / 93.73
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US dollar index breaks with a bearish candlestick; the support level is seen at 94.15, take profit is at 93.73, and stop loss is at 94.58.
More analysis - at instaforex.com