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Wave Analysis from InstaForex

Discussion in 'Technical Analysis' started by InstaForex Gertrude, Apr 1, 2016.

  1. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Dear forum members,

    Me and my colleagues are going to provide you with the latest analysis reviews. Please, follow our analysis and you will be informed about Forex. Hope, our reviews will help you to increase the efficiency of your trading.

    The source is instaforex.com.
     
  2. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of USD/JPY for April 01, 2016

    In Asia, Japan will release the Final Manufacturing PMI, Tankan Non-Manufacturing Index, Tankan Manufacturing Index and the US will release some economic data such as Total Vehicle Sales, Revised UoM Inflation Expectations, ISM Manufacturing Prices, Construction Spending m/m, Revised UoM Consumer Sentiment, the ISM Manufacturing PMI, Final Manufacturing PMI, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m.So there is a probability the USD/JPY pair will move with medium to high volatility during this day.

    TODAY'S TECHNICAL LEVELS:
    Resistance. 3: 112.86.
    Resistance. 2: 112.64.
    Resistance. 1: 112.42.
    Support. 1: 112.15.
    Support. 2: 111.93.
    Support. 3: 111.70.

    More analysis - at instaforex.com
     
  3. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of Silver for April 05, 2016

    Technical outlook and chart setups:
    Silver is seen to be trading at $15.10 levels at this moment, looking to reverse lower towards $14.50 levels at least before turning bullish again. The metal is stalling at a past support turned resistance level at $15.10/15 levels as depicted here. Furthermore it is also facing fibonacci 0.382 resistance of the drop between $15.40 and $14.80 levels respectively. Looks to be that a flat consolidation is now complete at $15.10 levels and the metal is poised to drop lower again. Major support is expected at $14.50 levels going forward. It is recommended to remain short now, with risk at $15.50 levels. Immediate resistance is at $15.50 levels, while support is seen at $14.80 levels respectively.

    Trading recommendations:
    Remain short for now, stop at $15.50, a target is $14.50.

    More analysis - at instaforex.com
     
  4. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Elliott wave analysis of EUR/NZD for April 6 - 2016

    Wave summary:

    We are still looking for support near 1.6640 to protect the downside for a rally above 1.6833 confirming upside acceleration towards 1.7220 on the way higher to 1.8550. Even if minor support at 1.6640 should be broken, back-up support is seen near 1.6578. It will take an unexpected break below support at 1.6430 to question this rally.

    Trading recommendation: We are long in EUR from 1.6250 with stop placed at 1.6600. If you are not long in EUR yet, then buy near 1.6640 or upon a break above 1.6800 and use the same stop at 1.6600.

    More analysis - at instaforex.com
     
  5. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Elliott wave analysis of EUR/NZD for April 7 - 2016

    Wave summary:
    We are still waiting for some real upside acceleration, but to signal the beginning of this upside acceleration, a break above resistance at 1.6800 and, more importantly, a break above 1.6874 is needed to call for a rally to 1.7220 on the way higher towards 1.8550. Support is seen at 1.6624 and is expected to continue to protect the downside for a break above 1.6800. Should support at 1.6624 be broken, back-up support is seen at 1.6585.

    Trading recommendation:
    We are long in EUR from 1.6250 with stop placed at 1.6600. If you are not long in EUR yet, then buy near 1.6624 or upon a break above 1.6800 and use the same stop at 1.6600.

    More analysis - at instaforex.com
     
  6. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of Gold for April 08, 2016

    Technical outlook and chart setups:
    Gold continues drifting sideways for now with prices trading around $1,236.00 levels. Please note that the metal has broken out of its resistance trend line and is expected to receive short-term support around $1,130.00 levels. Another probability is that the metal is unfolding as a triangle and has completed three waves out of the 5 waves. It is recommended to remain flat for now and watch out for a reaction around $1,230.00 levels before positioning trades. Immediate resistance is seen at $1,244.00/45.00 levels, while support is at $1,230.00 and lower respectively. A push lower into $1,210.00 levels would confirm that the metal is unfolding as a triangle.

    Trading recommendations: Remain flat for now and watch for a reaction around $1,230.00 levels.

    More analysis - at instaforex.com
     
  7. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/JPY for April 11, 2016

    General overview for 11/04/2016:
    The current wave development looks to be stopped inside of a possible triangle pattern which is typical for wave (b) correction. Nevertheless, the corrective cycle might evolve into a less complex and time-consuming pattern, especially if the intraday resistance at the level of 124.24 is clearly violated. For now, however, sideways price action below the weekly pivot is expected.

    Support/Resistance:
    122.53 - Intraday Support
    124.11 - Weekly Pivot
    124.24 - Intraday Resistance
    125.66 - WR1

    Trading recommendations:
    Traders should sell the triangle pattern area with SL above the level of 124.24 and TP at the lows of the triangle pattern around the level of 122.50.

    More analysis - at instaforex.com
     
  8. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of Silver for April 12, 2016

    Technical outlook and chart setups:
    Silver rallied through $16.00 levels yesterday before hitting fibonacci 0.786 resistance of the drop from $16.13 through $14.80 levels, and pulling back. The metal is trading at $15.80/85 levels for now and should be looking to drift lower till prices stay below $16.13 levels from here on. Please note that the metal has also produced a tweezer top candlestick pattern after hitting $16.00 levels yesterday. It indicates a potential drop lower from current levels. Hence the recommendation is to remain short for now, with risk at $16.25 levels. Immediate resistance is seen at $16.13 levels, while support is lower at $15.10 levels. Bears would remain in control till prices stay below $16.13 levels.

    Trading recommendations:
    Remain short now, stop at $16.25 levels, target is open.

    More analysis - at instaforex.com
     
  9. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of Silver for April 13, 2016

    Technical outlook and chart setups:
    Silver is pulling back after hitting fresh highs at $16.20 levels yesterday. The metal is seen to be trading at $16.00 levels at this moment, and looking to drop lower towards at least $15.40 levels and subsequently towards $14.60 levels respectively. Please note that the metal has remained shy by just 10 cents from the previous major resistance at $16.35 levels. If bulls do not manage to print above $16.35 levels, we can expect the metal to follow Gold and continue drifting lower. It is recommended to remain flat for now and wait for further confirmation to enter short positions. Immediate resistance is seen at $16.35 levels, while support is at $15.80 levels respectively.

    Trading recommendations: Remain flat for now.

    More analysis - at instaforex.com
     
  10. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Daily analysis of USDX for April 14, 2016

    USDX is very close to finding strong resistance around the 94.85 level in an effort to resume the bearish bias toward new lows, as the Index is getting outside of the 200 SMA on the H1 chart. However, we can expect a downside continuation when the USDX does a breakout below the 94.40 level, with targets around the 93.95 level.

    H1 chart's resistance levels: 94.85 / 95.21
    H1 chart's support levels: 94.40 / 93.95

    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 94.40, take profit is at 93.95, and stop loss is at 94.85.

    More analysis - at instaforex.com
     
  11. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Elliott wave analysis of EUR/JPY for April 15 - 2016

    Wave summary:
    With a low at 122.70, EUR/JPY failed to make a new low below 122.54 indicating either a fifth wave failure or that a more complex correction is unfolding in red wave [iv]. We will continue to look for resistance at 123.66 and, if broken just above 124.23, for the final decline towards 121.75 and maybe even slightly lower to 120.45. The long-term ideal target at 117.37 does not seem realistic anymore.Trading recommendation:We are short in EUR from 123.76 and will move our stop lower to break-even. If this stop is hit then we will be looking to sell EUR again at 124.25 with stop at 125.25.

    More analysis - at instaforex.com
     
  12. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/JPY for April 19, 2016

    Technical outlook and chart setups:
    The EUR/JPY pair is trading around 123.50 levels for now, preparing to rally towards 125.75 levels. Please note that fibonacci 0.618 resistance is also passing through 125.75 levels and a bearish reaction is expected there. The wave structure indicates that EUR/JPY has unfolded into 5 waves from 128.20 through 121.60/70 levels. It is now expected to produce a countertrend rally (3 waves), which is expected to terminate at 125.75 levels. Hence it is recommended to initiate long positions at 122.50/60 levels, with risk at 121.60 levels. Immediate resistance is seen at 124.20 levels, while support is seen through 121.60 levels respectively.

    Trading recommendations:
    Look to go long around 122.50/60, stop at 121.60, target is 125.75.

    More analysis - at instaforex.com
     
  13. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of Gold for April 20, 2016

    Technical outlook and chart setups:
    Gold is seen to be trading at $1,246.00/47.00 levels for now, after having hit $1,256.00 levels yesterday. The metal has reversed from the fibonacci 0.786 retracement level of the drop from $1,262.00 through $1,207.00 levels earlier. Please note that the metal should remain poised to print lower lows from here, till prices stay below $1,262.00 levels at least. It is hence recommended to remain short and also look to add further, with risk above $1,262.00 levels. Immediate support is seen at $1,223.00 levels, while resistance is at $1,262.00 levels respectively. A drop below $1,223.00 levels would accelerate the downside towards $1,190.00 and $1,160.00 subsequently.

    Trading recommendations:
    Remain short, stop at $1,264.50, target is $1,190.00.

    More analysis - at instaforex.com
     
  14. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of GBP/JPY for April 21, 2016

    GBP/JPY is expected to trade with a bullish bias. The pair stays above its support at 123.35 and is consolidating around its 50-period moving average. Meanwhile, the relative strength index stays above 50. Further upside is therefore expected with the next horizontal resistance and overlap set at 158.50 at first. A break above this level would call for further advance toward 159.00 in extension.

    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. Therefore, long positions are recommended with the first target at 158.50 and the second one, at 159.00. In the alternative scenario, short positions are recommended with the first target at 155.60 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 154.75. The pivot point is at 156.20.

    Resistance levels: 158.50, 159, 160.15
    Support levels: 155.60, 154.75, 154.05

    More analysis - at instaforex.com
     
  15. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of GBP/JPY for April 25, 2016

    GBP/JPY is expected to trade with a bullish bias above 159.45. The pair remains bullish above its nearest support at 159.45. The sequence of higher highs and lows remains intact, which should confirm a positive outlook. In addition, the rising 50-period moving average still acts as support. Hence, as long as 159.45 is not broken, an advance to 161.95 and 162.55 is likely.

    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. Therefore, long positions are recommended with the first target at 161.95 and the second one, at 162.55. In the alternative scenario, short positions are recommended with the first target at 158.30 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 157.05. The pivot point is at 159.45.

    Resistance levels: 161.95, 162.55, 163.35
    Support levels: 158.30, 157.05, 156.10

    More analysis - at instaforex.com
     
  16. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Daily analysis of USDX for April 28, 2016

    On the H1 chart, there was a lot of volatility in the USDX during yesterday's session, as the Index tried to break above the resistance zone of 94.70, but that was unsuccessful. Currently, a bottom can be found at the 94.26 level, where the buyers are trying to deal with the bears, as the Index is trading below the 200 SMA. The MACD indicator is turning into neutral territory, so the USDX may keep trading sideways in coming hours.

    H1 chart's resistance levels: 94.50 / 94.70
    'H1 chart's support levels: 94.26 / 94.02

    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 94.50, take profit is at 94.70, and stop loss is at 94.30.

    More analysis - at instaforex.com
     
  17. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for April 29, 2016

    When the European market opens, some economic news will be released such as the Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, Spanish Flash GDP q/q, French Prelim CPI m/m, French Consumer Spending m/m, German Retail Sales m/m, and French Prelim GDP q/q. The US will release economic data too such as the Treasury Currency Report, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Personal Spending m/m, Employment Cost Index q/q, and Core PCE Price Index m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

    TODAY'S TECHNICAL LEVELS:
    Breakout BUY Level: 1.1412.
    Strong Resistance: 1.1405.
    Original Resistance: 1.1394.
    Inner Sell Area: 1.1383.
    Target Inner Area: 1.1356.
    Inner Buy Area: 1.1329.
    Original Support: 1.1318.
    Strong Support: 1.1307.
    Breakout SELL Level: 1.1300.

    More analysis - at instaforex.com
     
  18. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of USD/JPY for May 02, 2016

    In Asia, Japan will release the Final Manufacturing PMI and the US will release some economic data such as the Loan Officer Survey, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. So there is a probability the USD/JPY will move with low to medium volatility during this day.

    TODAY'S TECHNICAL LEVELS:
    Resistance. 3: 106.87.
    Resistance. 2: 106.66.
    Resistance. 1: 106.45.
    Support. 1: 106.20.
    Support. 2: 105.99.
    Support. 3: 105.78.

    More analysis - at instaforex.com
     
  19. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/JPY for May 03, 2016

    Technical outlook and chart setups:
    The EUR/JPY pair rallied through 122.90 levels yesterday before pulling back lower. As it was discussed yesterday, the pair should extend its retracement towards 123.30 levels at least. Please note that the pair could have also formed a double bottom at 121.50 levels, but that would be confirmed on a break above 126.40 levels. In either case, a rally should be unfolding through fibonacci 0.382 or 0.618 resistance levels as depicted on the chart here. It is hence recommended to remain long for now, with risk at 121.00 levels. Immediate support is seen at 121.50 levels, while resistance is at 123.30 levels respectively.

    Trading recommendations:
    Remain long for now, stop at 121.40, targets are 123.30 and 124.50.

    More analysis - at instaforex.com
     
  20. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of GBP/JPY for May 05, 2016

    GBP/JPY is expected to trade in a lower range. The pair remains weak and is likely to challenge its nearest support at 154.40 in sight. The risk of a slide below this threshold remains high, as the falling 50-period moving average maintains strong selling pressure and should push the prices lower. In this case, as long as 156 is not surpassed, a decline to 154.40 and 153.15 is likely in extension.

    Trading Recommendations:
    The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 154.40. A break of this target will move the pair further downwards to 153.15. The pivot point stands at 156.00. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 156.70 and the second target at 157.50.

    Resistance levels: 156.70, 157.50, 158.40
    Support levels: 154.40, 153.15, 152.20

    More analysis - at instaforex.com
     

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