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Gold technical analysis for January 23, 2016

Gold price remains in a short-term bullish trend, and I continue to expect prices to move higher towards the area of $1,120-30. The trend remains bullish as the price is headed towards higher highs and higher lows.

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Blue lines – bullish channel

Gold price continues to trade above the Ichimoku cloud and inside an upward sloping channel. Support is found at $1,080, while resistance is seen at $1,110. I continue to expect gold price to reach the upper channel boundary and finish its rise from $1,050.

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The weekly chart continues to show that the price remains supported, and while the oversold stochastic is bouncing, we should expect the kijun-sen resistance to be tested this week if not broken upwards. Important weekly support is found at $1,080. A weekly close below this level will open the way to $950.The material has been provided by InstaForex Company – www.instaforex.com

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Daily analysis of major pairs for January 25, 2016

EUR/USD: The EUR/USD pair was able to
move downwards last week, closing just below the resistance line at 1.0800 on
Friday. There is now a Bearish Confirmation Pattern on this pair, which means
the price could begin to trend further downwards. There is a potential bearish
target at the support line of 1.0750, while the resistance line at 1.0950 is a
formidable barrier to bulls.

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USD/CHF: There was an upwards movement of 150 pips on
the USD/CHF last week – something that has caused a clean bullish signal in the
market. Since the important market level of 1.0100 is being breached to the upwards successfully,
it might be logical to assume that the price would continue moving northwards. This week, bullish potential targets are at the resistance levels of 1.0200
and 1.0250.

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GBP/USD: From Monday to Wednesday, GBP/USD moved
downwards by 170 pips, testing the accumulation territory of 1.4100 last week.
From that territory, the price started making some bullish effort, which might
not render the current bearish bias invalid unless the price moves above the
distribution territory of 1.4500. This would require serious attempts from bulls because the strong USD would make it difficult for this pair to rally this
week.

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USD/JPY: The USD/JPY pair tested the demand level at 116.00, and then bounced upwards by 280 pips. This poses a direct threat to the extant bearish outlook, which would eventually be rendered invalid in case the price continues going further upwards this week. The outlook for the USD is bright and therefore the USD/JPY pair might continue moving upwards.

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EUR/JPY: The outlook remains bearish and
unchanged for this market, though there are mixed signals seen. It is better to stay
away from this market until there is a directional signal. There may be a
breakout, which would be influenced by the events affecting the euro.
There would be a breakout above the supply level of 129.00 or below the demand
level of 126.50 this week.

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Technical analysis of EUR/USD for December 30, 2015

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When the European market opens, economic news on the Italian 10-y Bond Auction, Private Loans y/y, M3 Money Supply y/y, and Spanish Flash CPI y/y is due to be released. The US will unveil economic data on the Crude Oil Inventories and Crude Oil Inventories. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0981.

Strong Resistance:1.0975.

Original Resistance: 1.0964.

Inner Sell Area: 1.0953.

Target Inner Area: 1.0926.

Inner Buy Area: 1.0903.

Original Support: 1.0892.

Strong Support: 1.0881.

Breakout SELL Level: 1.0875.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

The material has been provided by InstaForex Company – www.instaforex.com

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Technical analysis of USD/JPY for December 30, 2015

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In Asia, Japan will not release any economic data, but the US will deliver reports on Crude Oil Inventories and Crude Oil Inventories. So, there is a big probability that the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.11.

Resistance. 2: 120.87.

Resistance. 1: 120.64.

Support. 1: 120.35.

Support. 2: 120.11.

Support. 3: 119.88.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

The material has been provided by InstaForex Company – www.instaforex.com

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Daily analysis of USDX for December 30, 2015

Our short-term outlook for the USDX remains bearish because the 200 SMA on the H1 chart is still acting as strong dynamic resistance, and by the way, we should still follow the downside bias. Also, the current fractal structure is calling for a bearish trend, which will receive some kind of New Year Eve’s aftermath momentum. The MACD indicator is entering the negative territory.

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H1 chart’s resistance
levels: 98.14 / 98.66

H1 chart’s support levels: 97.86
/ 97.66

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 found at
97.86,
take profit is at
97.66,
and stop loss is at 98.05.

The material has been provided by InstaForex Company – www.instaforex.com

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Daily analysis of GBP/USD for December 30, 2015

On the H1 chart, GBP/USD has been finding strong support at the level of 1.4802 and yesterday’s decline failed to succeed in breaking that zone to the downside. However, an overall bias remains bearish, as the cable is performing a good consolidation below the 200 SMA in this time frame, but be aware of a possible double bottom pattern formation
ongoing.

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H1 chart’s resistance
levels: 1.4918 / 1.4999

H1 chart’s support levels:
1.4802 / 1.4702

Trading recommendations for today: Based on the H1 chart,
place sell (short) orders only if the GBP/USD pair breaks a bearish
candlestick; the support level is found at 1.4802, take profit is at
1.4702, and stop loss is at 1.4908.

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Technical analysis of USD/CHF for December 30, 2015

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Overview:

  • According to the previous events, the pUSD/CHF pair is going to move between the level of 0.9992 and 0.9849. Hence, we expect a range of 143 pips. The resistance is seen at the level of 0.9992 for two weeks. Equally important, the support is found at 0.9849. Consequently, the market will indicate a bearish opportunity below 0.9992, because the level of 0.992 is going to act as strong resistance. Therefore, sell below this level today with the first target at 0.9913 in order to try to break the weekly pivot point in the H4 chart. Furthermore, if the trend manages to close below 0.9913, then the market will be continuing in a downtrend below the weekly pivot point towards the level of 0.8949. Also it should be noted that the double bottom is set at the point of 0.9785.

Technical levels:

  • R3: 1.0120
  • R2: 1.0056
  • R1: 0.9992
  • PP: 0.9912
  • S1: 0.9849
  • S2: 0.9785
  • S3: 0.9731

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Technical analysis of EUR/USD for December 30, 2015

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Overview:

  • According to the previous events, the EUR/USD pair still trades between the levels of 1.0930 and 1.0842.
  • Strong resistance will be formed at the level of 1.0930 providing a clear signal for sell deals with targets seen at 1.0872 and 1.0842.
  • Stop-loss is to be placed above 1.01018.
  • In the short term, strong support will be formed at the level of 1.0791 providing a clear signal for buy deals with a small target seen at 1.0903 in order to retest support.

Notes:

  • We expect a range about 105 pips today.
  • The risk of 70 pips must make profit of 105 pips.
  • The level of 1.0931 will confirm the bearish market.
  • Volatility is 117.50. As a rule, the market is highly volatile if the prior day had a huge volatility.

The material has been provided by InstaForex Company – www.instaforex.com

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Daily analysis of USD/JPY for December 29, 2015

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Overview

USD/JPY is losing some downside momentum but there is not clear sign of bottoming yet. Sustained break of 61.8% retracement of 118.05 to 123.74 at 120.22 will indicate that rebound from 116.13 has completed already and deeper fall would be seen back towards 116.13 low. Meanwhile, above 121.49 minor resistance will turn back to the upside for 123.74 resistance. Overall, more choppy sideway trading could be seen as consolidation pattern from 125.85 extends. The consolidation pattern from 125.85 medium term top is still in progress. In case of deeper fall, we’d expect strong support between 115.55 and 38.2% retracement of 101.08 to 125.85 at 116.38 to contain downside. An eventual break of 125.85 is still anticipated at a later stage.

Daily Pivots: (S1) 120.14; (P) 120.38; (R1) 120.62;

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Daily analysis of Silver for December 29, 2015

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Overview

Silver price shows clear bearish bias to begin pushing on the key support 13.96, and as we mentioned in our morning report, the price needs to break this level to confirm the continuation of the bearish trend in the upcoming period. Therefore, our bearish overview will remain valid and active on the intraday and short term basis as long as the daily close is stable below 14.25 level. Silver price managed to end yesterday’s trading below 13.96, which supports the chances of resuming the main bearish trend, which depends on the stability of the daily close below 14.25 level, supported by the negative pressure offered by the EMA50.

The material has been provided by InstaForex Company – www.instaforex.com

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