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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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    USD/CAD intraday technical levels and trading recommendations for October 14, 2016

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    On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations.
    On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.
    Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) is needed to enhance bearish momentum in the market.
    However, on August 18 signs of bullish recovery were manifested around the price level of 1.2830 which led to the current bullish breakout above 1.3000. This week, daily persistence below 1.2950 (61.8% Fibonacci level) should be achieved in order to enhance the bearish side of the market. Initial bearish targets are located at 1.2670 and 1.2580.
    Otherwise, daily persistence above 1.3000 (61.8% Fibonacci level) opens the way towards the price level of 1.3300 (50% Fibonacci level) where price action should be watched for a better SELL entry with a lower risk/reward ratio.

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  2. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for Oct 18, 2016

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    When the European market opens, no economic data will be released, but the speech of ECB President Draghi is expected. The US will publish TIC Long-Term Purchases, NAHB Housing Market Index, Core CPI m/m, CPI m/m. Amid the reports EUR/USD is likely to move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVELS:
    Breakout BUY Level: 1.1063.
    Strong Resistance:1.1057.
    Original Resistance: 1.1046.
    Inner Sell Area: 1.1035.
    Target Inner Area: 1.1009.
    Inner Buy Area: 1.0983.
    Original Support: 1.0972.
    Strong Support: 1.0961.
    Breakout SELL Level: 1.0955.

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  3. IFX Yvonne

    IFX Yvonne Member Trader

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    Technical analysis of USDX for October 19, 2016

    The Dollar index is moving sideways near its recent highs. Price has broken out of the bullish channel but there is no bearish trend in any time frame. Price is moving sideways in what we could say is a triangle pattern.

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    Green lines - bullish channel
    Blue lines - triangle pattern

    The Dollar index is consolidating near its recent highs. Short-term support is at 97.65 and resistance at 98.15. A breakout above resistance is expected to be short-lived as oscillators are diverging. A break below support will open the way for a push towards 96.

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    Red lines - sideways long-term channel
    Green line - important medium-term support
    Blue lines - projected possible path

    I expect the Dollar index to make at least one pullback towards the green trend line support and the Kumo. A bounce will then follow most probably, but for now I focus on the bearish side of the index expecting a pullback from the current levels.

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  4. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    USD/CAD intraday technical levels and trading recommendations for October 19, 2016

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    On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations.

    On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.

    Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) is needed to enhance bearish momentum in the market.

    However, on August 18 signs of bullish recovery were manifested around the price level of 1.2830 which led to the current bullish breakout above 1.3000.

    This week, daily persistence below 1.2950 (61.8% Fibonacci level) should be achieved in order to enhance the bearish side of the market. Initial bearish targets are located at 1.2670 and 1.2580.

    Otherwise, the USD/CAD pair remains trapped between the price levels of 1.3000 (61.8% Fibonacci level) and 1.3300 (50% Fibonacci level) until breakout occurs in either direction (probably to the downside).

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  5. IFX Yvonne

    IFX Yvonne Member Trader

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    EUR/USD Technical Analysis for October 21, 2016.

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    Technical outlook and chart setups:
    The EUR/USD pair prints yet another low at 1.0895 levels overnight. The pair is seen to be trading at 1.0906 level for now and needs to push through 1.1040 level to confirm further upside. Please note that probability for a continued lower low is reducing since there is extreme bullish divergence seen on 1H and 4H charts. The pair is expected to rally and take out 1.1040 level to confirm that bulls are here to remain longer and extend rally through 1.1100 level. Please note that 1.1100 level would provide stiff resistance if prices manage to reach there since it is fibonacci 0.618 resistance of the entire drop between 1.1234 through 1.0895 levels. Looking at the wave structure, the pair looks to be preparing for yet another run towards 1.1040 and 1.1100 levels. It is hence recommended to remain long, with risk at 1.0880 level. Immediate resistance is seen at 1.1040 level, while support is seen at 1.0895 level respectively.

    Trading recommendations:

    Remain long, stop at 1.0880, a target is open.

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  6. IFX Yvonne

    IFX Yvonne Member Trader

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    Elliott wave analysis of EUR/JPY for October 24, 2016

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    EUR/JPY - Daily

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    EUR/JPY - 4-Hourly
    Wave summary:

    The decline from 116.25 has been very deep. However, as long as support holds at 112.56 and more importantly support at 112.05 is able to act as a floor, more upside is expected for this cross. Our preferred count remains that a long-term corrective low was found with the test of 109.48 and a new impulsive rally now is building. However, the base for this new impulsive rally is currently building and picking the lows has proven harder than expected. This obviously makes us a bit cautious, but second waves are allowed to correct 100% of the first wave, so we need to allow for a return to 112.56 and if wave (ii) isn't complete yet a move even lower to 109.48. To confirm the next rally higher, we need a break above minor resistance at 114.52 and more importantly a break above 115.15 for the next rally towards 120.00 and 122.00 on the way higher.

    Trading recommendation:

    We will by EUR here at 112.95 with stop placed at 112.00.

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  7. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    EUR/USD Technical Analysis for October 27, 2016

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    Technical outlook and chart setups:

    The EUR/USD pair finally rallied higher unfolding its much awaited counter trend. The pair has made interim highs at 1.0946 level before pulling back lower. It is seen to be trading at 1.0897 level for now and should be poised to push through 1.0992 level at least as depicted here. Please note that probability remains for a continued push higher in a counter trend rally this week. The pair is expected to rally and take out 1.1040 level to confirm that bulls are here to remain longer or it would be considered as wave 4 pullbacks. The probability for wave 4 terminations at 1.1040 level remains high at this moment according to wave counts discussed earlier. Looking at the wave structure, the pair looks to be in a corrective wave 4 rally which should ideally terminate around 1.1040 level. It is recommended to remain long now, with risk below 1.0850 levels. Immediate resistance is seen at 1.1040 level, while support is seen at 1.0850 level respectively.

    Trading recommendations:
    Remain long now, stop below 1.0850, target is 1.1040.

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  8. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Daily analysis of USDX for October 28, 2016

    USDX held a bullish tone during Thursday and it's trying to reach the resistance zone of 99.19 across the board. If the index does a breakout over there, then it's expected to rally towards the 99.70 level, opening the doors to visit the key zone of 100.00. However, if USDX manages to consolidate below the 200 SMA, it can reach the 98.00 psychological level.

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    H1 chart's resistance levels: 99.19 / 99.70
    H1 chart's support levels: 98.53 / 98.01

    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 99.19, take profit is at 99.70 and stop loss is at 98.68.


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  9. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for Nov 02, 2016

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    When the European market opens, some Economic Data will be released such as German 10-y Bond Auction, Final Manufacturing PMI, German Final Manufacturing PMI, German Unemployment Change, French Final Manufacturing PMI, Spanish Manufacturing PMI. The US will release the economic data, too, such as Federal Funds Rate, Crude Oil Inventories, ADP Non-Farm Employment Change, so, amid the reports, EUR/USD will move in a medium to high volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1110.
    Strong Resistance:1.1104.
    Original Resistance: 1.1093.
    Inner Sell Area: 1.1082.
    Target Inner Area: 1.1056.
    Inner Buy Area: 1.1030.
    Original Support: 1.1019.
    Strong Support: 1.1008.
    Breakout SELL Level: 1.1002.

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  10. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Daily analysis of USDX for November 03, 2016

    USDX is still weakening in the markets, as latest polls have been putting to the Republican candidate Donald Trump as the favorite to win the US presidential elections. We're seeing a support placed at the 97.12 level, where a breakout should open the doors to test the 96.47 level, which is a key interest area for a possible bullish reaction. The index remains below the 200 SMA at H1 chart, supporting the bearish scenario.

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    H1 chart's resistance levels: 97.62 / 98.01
    H1 chart's support levels: 97.12 / 96.47

    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 97.12, take profit is at 96.47 and stop loss is at 97.75.

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  11. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for Nov 04, 2016

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    When the European market opens, some economic data will be released such as Average Hourly Earnings m/m, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI.The US will also publish some reports such as Trade Balance, Unemployment Rate, Non-Farm Employment Change, Average Hourly Earnings m/m. Therefore, amid the news EUR/USD will move in a medium to high volatility during this day.

    TODAY'S TECHNICAL LEVELS:
    Breakout BUY Level: 1.1153.
    Strong Resistance:1.1147.
    Original Resistance: 1.1136.
    Inner Sell Area: 1.1125.
    Target Inner Area: 1.1099.
    Inner Buy Area: 1.1073.
    Original Support: 1.1062.
    Strong Support: 1.1051. Breakout SELL Level: 1.1045.

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  12. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for Nov 07, 2016

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    When the European market opens, some Economic Data will be released such as Eurogroup Meetings, Retail Sales m/m, Sentix Investor Confidence, Retail PMI, German Factory Orders m/m. The US will release the economic data, too, such as Consumer Credit m/m, Loan Officer Survey, Labor Market Conditions Index m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1153.
    Strong Resistance:1.1147.
    Original Resistance: 1.1136.
    Inner Sell Area: 1.1125.
    Target Inner Area: 1.1099.
    Inner Buy Area: 1.1073.
    Original Support: 1.1062.
    Strong Support: 1.1051.
    Breakout SELL Level: 1.1045.

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  13. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for Nov 08, 2016

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    When the European market opens, some Economic Data will be released, such as ECOFIN Meetings, French Trade Balance, French Gov Budget Balance, German Trade Balance, German Industrial Production m/m. The US will release the economic data, too, such as Congressional Elections, Presidential Election, Mortgage Delinquencies, JOLTS Job Openings, NFIB Small Business Index, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1101.
    Strong Resistance:1.1095.
    Original Resistance: 1.1084.
    Inner Sell Area: 1.1073.
    Target Inner Area: 1.1047.
    Inner Buy Area: 1.1021.
    Original Support: 1.1010.
    Strong Support: 1.0999.
    Breakout SELL Level: 1.0993.

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  14. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for Nov 09, 2016

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    When the European market opens, some economic data will be released such as EU Economic Forecasts. The US will post several macroeconomic reports such as 10-y Bond Auction, Crude Oil Inventories, and Final Wholesale Inventories m/m. Besides, results of presidential election will be unveiled later today. So EUR/USD will be trading with medium to high volatility during this day.

    TODAY'S TECHNICAL LEVELS:
    Breakout BUY Level: 1.1047.
    Strong Resistance:1.1041.
    Original Resistance: 1.1030.
    Inner Sell Area: 1.1019.
    Target Inner Area: 1.0993.
    Inner Buy Area: 1.0968.
    Original Support: 1.0957.
    Strong Support: 1.0946.
    Breakout SELL Level: 1.0940.

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  15. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for Nov 10, 2016

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    When the European market opens, some Economic Data will be released, such as Italian Industrial Production m/m, French Prelim Non-Farm Payrolls q/q, French Industrial Production m/m. The US will release the economic data, too, such as Federal Budget Balance, 30-y Bond Auction, Natural Gas Storage, Unemployment Claims, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.0978.
    Strong Resistance:1.0972.
    Original Resistance: 1.0961.
    Inner Sell Area: 1.0950.
    Target Inner Area: 1.0925.
    Inner Buy Area: 1.0900.
    Original Support: 1.0889.
    Strong Support: 1.0878.
    Breakout SELL Level: 1.0872.

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  16. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for Nov 11, 2016

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    When the European market opens, some Economic Data will be released such as German WPI m/m and German Final CPI m/m. The US will release the economic data, too, such as Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.0939.
    Strong Resistance:1.0933.
    Original Resistance: 1.0922.
    Inner Sell Area: 1.0911.
    Target Inner Area: 1.0886.
    Inner Buy Area: 1.0861.
    Original Support: 1.0850.
    Strong Support: 1.0839.
    Breakout SELL Level: 1.0833.

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  17. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of EUR/USD for Nov 14, 2016

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    When the European market opens, some Economic Data will be released such as Industrial Production m/m and the ECB President Draghi Speaks. Today, the US will not release any Economic Data, so, amid the reports, the EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.0860.
    Strong Resistance:1.0854.
    Original Resistance: 1.0843.
    Inner Sell Area: 1.0832.
    Target Inner Area: 1.0807.
    Inner Buy Area: 1.0782.
    Original Support: 1.0771.
    Strong Support: 1.0760.
    Breakout SELL Level: 1.0754.

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  18. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of USD/JPY for November 15, 2016

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    USD/JPY movement is supported by a rising trend line. The pair has been supported by a bullish trend line since November 11. The 20-period moving average stays above the 50-period one, and the relative strength index stays above its neutrality area at 50.

    On Monday, U.S. stocks ended mixed with the Dow Jones Industrial Average advancing for a sixth consecutive session to another record high of 18,868 (+21 points, 0.1%). UnitedHealth Group jumped 4.0% and McDonald's gained 3.2%. Banks continued to shine, and real estate shares also outperformed.

    On the other hand, the S&P 500 was largely unchanged at 2,164, and the Nasdaq Composite eased 18 points (-0.4%) to 5,218.

    As long as 107.30 holds on the downside, further bounce is expected to 108.75 and 109.85 as next targets.

    Trading Recommendation: 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 108.75 and the second one at 109.85. In the alternative scenario, short positions are recommended with the first target at 106.15 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 104.95. The pivot point lies at 107.30.

    Resistance levels: 108.75, 109.85, 110.15
    Support levels: 106.15, 104.95, 104.25

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  19. IFX Yvonne

    IFX Yvonne Member Trader

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    Elliott wave analysis of EUR/NZD for November 16, 2016

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    Wave summary:
    We continue to look for more upside towards the ending diagonal resistance line near 1.5450 and above here will call for a return to the origin of the ending diagonal at 1.5834 and above.

    Short term, we expect support at 1.5010 to act as a floor for a rally above minor resistance 1.5195 and more importantly above resistance at 1.5266 for the test of the ending diagonal resistance line.

    Trading recommendation:

    We are long EUR from 1.4950 with stop placed at 1.4805. Upon a break above 1.5195 we will move our stop to 1.5000. If you are not long EUR yet, then buy near 1.5050 or upon a break above 1.5195 and use the same stops.

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  20. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Technical analysis of USD/JPY for Nov 17, 2016

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    In Asia, Japan today will not release any Economic Data's but the US will release some Economic Data, such as Natural Gas Storage, Housing Starts, Unemployment Claims, Philly Fed Manufacturing Index, Philly Fed Manufacturing Index, CPI m/m, and Building Permits. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Resistance. 3: 109.47.
    Resistance. 2: 109.25.
    Resistance. 1: 109.04.
    Support. 1: 108.78.
    Support. 2: 108.56.
    Support. 3: 108.35.

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