Instaforex Analysis

**InstaForex Gertrude** · 07-07-15, 09:36

Daily analysis of GBP/USD for July 07, 2015

GBP/USD found bottom around the 200 SMA on the daily chart and now we could expect some kind of rebound over there in order to reach the resistance level of 1.5755. However, if the pair does a breakout at the support level of 1.5543, it would be expected to test a low around 1.5450. The MACD indicator is still at negative territory.

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**InstaForex Gertrude** · 09-07-15, 09:26

Daily analysis of GBP/USD for July 09, 2015

On the daily chart, GBP/USD continues to trade lower. Now, it is looking for an opportunity to break the support level of 1.5327 in order to achieve 1.5243. The current structure is still caling for the upside in this time frame because the pair hasn't break the invalidation zone at 1.5243 yet in order to invalidate our overall bullish outook.
GBP/USD is forming a lower low pattern in the H1 chart and the current price action is calling for more falls in the short term. However, bear in mind that the pair is still weak but oversold in lower time frames. That is why we would like to see a bullish corrective move accross at least the resistance of 1.5412.

Daily chart's resistance levels: 1.5450 / 1.5543
Daily chart's support levels: 1.5327 / 1.5243
H1 chart's resistance levels: 1.5363 / 1.5412
H1 chart's support levels: 1.5329 / 1.5269

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 at 1.5329, take profit is at 1.5269, and stop loss is at 1.5388.

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**InstaForex Gertrude** · 10-07-15, 08:56

Technical analysis of NZD/USD for July 10, 2015

The daily pivot point sets at the price of 0.6766.

Overview: The NZD/USD pair is still moving in a strong downward trend in the medium time frame. Additionally, according to the previous events, the NZD/USD pair has still been trapped between 0.6772 and 0.6700. So, it makes sense to be neutral at this spot for that we expect a daily range of 72 pips approximately. Equally important, the support has set at the level of 0.6691 and minor support has set at 0.6728 since yesterday. On the other hand, the strong resistance had already placed at 0.6772 and 0.6807, which are coinciding with the ratios of 50% Fibonacci retracement levels and the golden ratio respectively.

The NZD/USD pair will give a good sign to sell below 0.6772 and 0.680 with a target of 0.6728. Also, if the trend is able to break the level of 0.6728, it will resume to 0.6700. However, if the trend fails to close below the strong support (0.6700), the market will indicate a bullish opportunity above 0.6700 in the short term. Thereupon, the level of 0.6700 is going to act as strong support. Therefore, it will a good sign to buy during the correction and open short trades above it 0.6700 with a target at 0.6775.

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**InstaForex Gertrude** · 13-07-15, 09:34

Technical analysis of GBP/CHF for July 13, 2015

In Asia, Japan is not expected to release economic data today. However, the US will publish data data on the Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, Current Account, Unemployment Claims, Core CPI m/m, amd CPI m/m. So, there is a big probability that USD/JPY will move with low to medium volatility during the day.

Technical outlook and chart setups:
The GBP/CHF pair is trading around the levels of 1.4550/60 at the moment and is expected to resume its rally from the level of 1.4400. As seen here, the support trendline and fibonacci 0.618 support level is passing through the same region (1.4400/30). It is hence recommended to initiate fresh long positions around 1.4400/30 with risk at 1.4250. Immediate support is seen at the level of 1.4400 followed by 1.4250 and lower while resistance is seen around 1.4725 followed by 1.4830 and higher respectively. Bulls should be poised to push the pair through fresh swing highs around 1.4400/30.

Trading recommendations:
Initiate long positions around 1.4400/30 levels, stop is at 1.4250, a target is open.

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**InstaForex Gertrude** · 14-07-15, 09:09

Daily analysis of GBP/USD for July 14, 2015

GBP/USD made an important pullback at the resistance level of 1.5543, which could be the first step towards a lower low in the daily chart. Also, we should expect a breakout at the support level of 1.5450, with a target placed around the zone of 1.5327. The MACD indicator remains at negative territory supporting our short-term bearish outlook, but be cautious with possible trend-changes.

On the H1 chart, GBP/USD was rejected by the price zone above the 200 SMA and now it's looking to test the support level of 1.5458. Now, the near-term target is placed at the downside, around the support level of 1.5458. If the pair manage to brake that level, it would be expected to test the level of 1.5412 very soon.

Daily chart's resistance levels: 1.5543 / 1.5640
Daily chart's support levels: 1.5450 / 1.5327
H1 chart's resistance levels: 1.5524 / 1.5596
H1 chart's support levels: 1.5458 / 1.5412

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 at 1.5458, take profit is at 1.5412, and stop loss is at 1.5501.

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**InstaForex Gertrude** · 15-07-15, 09:47

Technical analysis of EUR/USD for July 15, 2015

The pair managed to move higher, but rejected at the higher levels again. It closed below 100Dsma. ZEW indicator of economic sentiment inGermany slightly declined in July 2015. It decreased by 1.8 points compared to the previous month and now stands at the level of 29.7. Besides, US retail sales data unexpectedly fell down 0.3%. May's numbers were revised little bit down. Trend- The weekly resistance is seen at 1.1035, 1.1095, and 1.1125. Until the pair closes below 1.1125 use every rise to sell towards 1.0720 and even 1.0500. Earlier, the pair made a double top at 1.1465 and at 1.1225 is a new cap. We are pesimistic about the longer-term forecast. Intraday- The pair was rejected at 100Dsma (1.1020) again at today's Asian session.The intraday support is found at 1.0990 and 1.0970. Strong selling emerges below 1.0890 towards 1.0850 initially. Later, it is likely to expand a bearish wave towards 1.0720. Intraday resistance is seen at 1.1020, 1.1050, and 1.1085. The selling trade is available with sl 1.1025 targets at 1.0970, 1.0950, 1.0920, and 1.0890. If a bounce takes place, use rises to sell with sl 1.1070 during a day.

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**InstaForex Gertrude** · 16-07-15, 09:17

GBP/USD - Weekly and Monthly Pivot Points for July 02 - 06, 2012

Technical outlook and chart setups:
Silver is trading around the level of $15.05 after hitting lows at $15.00 overnight. Please note that the metal is trading right around its fibonacci 0.618 support around $15.00/20 as depicted here. Furthermore, the metal had taken out resistance at $15.85 earlier, and is expected to move higher towards $16.40/50. It is hence recommended to remain long for now with risk at $14.30 . Immediate support is seen at $14.50/60 followed by $14.30 and lower, while resistance is seen at $16.40 followed by $17.20 and higher respectively.

Trading recommendations:
Remain long, stop is at $14.30, a target is open.

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**InstaForex Gertrude** · 20-07-15, 08:54

Technical analysis of AUD/USD for July 20, 2015

Ahead of the major events, the aussie is trading lower against USD. Monetary policy meeting minutes ate due today, data on CPI and speech of RBA governor Stevens are scheduled for tomorrow. Today, the pair opened on a bearish note. The nearest support zone is found at 0.7330, 0.7300, and 0.7250. In the daily chart, the pair closed below a neckline of a bearish h&s pattern. This indicates further lows in the coming weeks. The weekly resistance is seen at 0.7380, 0.7420, and 0.7500. Earlier, the pair made a double top at 0.7500. Use rises to sell until the price closes below 0.7500. At the intraday session, selling is available below 0.7330 with targets at 0.7300, 0.7250, and 0.7220.

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**InstaForex Gertrude** · 21-07-15, 09:19

Technical analysis of EUR/USD for July 21, 2015

Given lack of macroeconomic data, today is understandably a quiet day on the euro and USD markets. Things should pick up rapidly on Friday, however as we don't have a number of high-impact data releases to look forward. The pair closed below 20Wsma.
The pair reached a large distribution territory between 1.1467 and 1.1437. In the daily chart, the pair lost all moving averages. The nearest support is found at 1.0785. We advised selling on rises with a target at 1.0720. The 20Wsma is seen at 1.1080. In different time intervals (hourly and daily charts), the oscillators indicate oversold levels.
The pair has been reaching lower lows and lower highs, falling below the lower end of the ascending trendline. We recommend fresh selling only below 1.0780 with an initial target at 1.0720 and extending towards 1.0630 later.
Intraday resistance is seen at 1.0840, 1.0870, and 1.0910. Support is found at 1.0790, 1.0750, and 1.0720.
Weekly resistance is seen at 1.0920, 1.0960, and 1.0980. Support is found at 1.0790, 1.0720, and 1.0650.
Monthly support is found at 1.0730.

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**InstaForex Gertrude** · 23-07-15, 07:32

Technical analysis of USD/JPY for July 22, 2015

USD/JPY is expected to consolidate with bullish bias. USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 97.96 versus 97.66 early Friday) on a larger-than-expected 9.8% on-month increase in the US June housing starts (versus forecast +7.1%), while +0.3% US June CPI (matching forecast) bolstered expectations that the Federal Reserve will begin tightening its policy this year. USD/JPY is also supported by the Bank of Japan's ultra-loose monetary policy, reduced safe-haven appeal of the yen as investor risk aversion recedes (VIX fear gauge eased 1.32% to 11.95; S&P 500 closed up 0.11% at 2,126.64 Friday) amid easing concerns about Greece and signs of stabilization in China stock markets. But USD sentiment is dented by the weaker-than-expected US July preliminary University of Michigan consumer sentiment index of 93.3 (versus forecast 95.5). USD/JPY upside is also limited by the profit-taking on short JPY positions and buy-yen orders from Japan's exporters. Technical comment: The daily chart is still positive-biased as the MACD and stochastics are bullish, although the latter one is at overbought levels. Five-day moving average is above 15-day moving average and is advancing. 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. As long as the price holds above its pivot point, long positions are recommended with the first target at 124.35 and the second target at 124.60. In the alternative scenario, short positions are recommended with the first target at 123.70 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 123.35. The pivot point is at 123.90.

Resistance levels: 124.35 124.60 124.90
Support levels: 123.70 123.35 123

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**InstaForex Gertrude** · 27-07-15, 09:28

Technical analysis of EUR/USD for July 27, 2015

When the European market opens, economic news Private Loans y/y, M3 Money Supply y/y, German Ifo Business Climate, and German Import Prices m/m is due. The US will release data about Durable Goods Orders m/m and Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1025.
Strong Resistance:1.1019.
Original Resistance: 1.1008.
Inner Sell Area: 1.1997.
Target Inner Area: 1.0972.
Inner Buy Area: 1.0947.
Original Support: 1.0936.
Strong Support: 1.0925.
Breakout SELL Level: 1.0919.

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**InstaForex Gertrude** · 28-07-15, 08:56

Daily analysis of GBP/USD for July 28, 2015

On the daily chart, GBP/USD is trading slightly bullish, but it is still ins the zone around the 200 SMA. We should expect a rally towards the resistance zone of 1.5640 and also, a higher continuation towards new highs. However, if a pullback take place at currentl evels, it would be expected to test the support zone of 1.5450.

GBP/USD found a strong bottom around the level of 1.5502 and now it is trading above the 200 SMA on the H1 chart. There is a resistance level of 1.5568 still to be broken during this bullish road, but eventually, the pair could trade higher again in order to reach new highs. We should expect a bullish consolidation for the mid-term when GBP/USD moves above that moving average again.

Daily chart's resistance levels: 1.5543 / 1.5640
Daily chart's support levels: 1.5450 / 1.5332
H1 chart's resistance levels: 1.5568 / 1.5594
H1 chart's support levels: 1.5524 / 1.5502

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 1.5568, take profit is at 1.5594, and stop loss is at 1.5542.

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**InstaForex Gertrude** · 30-07-15, 09:09

Technical analysis of EUR/USD for July 30, 2015

When the European market opens, economic data on the Italian 10-y Bond Auction, ECB Economic Bulletin, German Unemployment Change, Spanish Flash GDP q/q, Spanish Flash CPI y/y, and German Prelim CPI m/m is due. The US will publish data on Natural Gas Storage, Advance GDP Price Index q/q, Unemployment Claims, and Advance GDP q/q. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1034.
Strong Resistance:1.1028.
Original Resistance: 1.1017.
Inner Sell Area: 1.1006.
Target Inner Area: 1.0981.
Inner Buy Area: 1.0966.
Original Support: 1.0945.
Strong Support: 1.0936.
Breakout SELL Level: 1.0929.

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**InstaForex Gertrude** · 03-08-15, 09:07

Technical analysis of USD/JPY for August 03, 2015

In Asia, Japan will release data on the Final Manufacturing PMI. The US will publish economic news about Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, ersonal Spending m/m, and Core PCE Price Index m/m. So, there is a strong probability that USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:
Resistance. 3: 124.61.
Resistance. 2: 124.36.
Resistance. 1: 124.12.
Support. 1: 123.83.
Support. 2: 123.58.
Support. 3: 123.34.

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**InstaForex Gertrude** · 04-08-15, 08:45

Technical analysis of EUR/USD for August 04, 2015

When the European market opens, some data on the PPI m/m and Spanish Unemployment Change is due.The US will release data on the Loan Officer Survey, IBD/TIPP Economic Optimism, and Factory Orders m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1004.
Strong Resistance:1.0998.
Original Resistance: 1.0987.
Inner Sell Area: 1.0976.
Target Inner Area: 1.0951.
Inner Buy Area: 1.0926.
Original Support: 1.0915.
Strong Support: 1.0904.
Breakout SELL Level: 1.0898.

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**InstaForex Gertrude** · 05-08-15, 09:31

EUR/USD Technical Levels and Trading Recommendations for August 5, 2015

When the European market opens, economic data on Retail Sales m/m, Italian Industrial Production m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI is due. The US will unveil data about Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, Trade Balance, and ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.0937.
Strong Resistance:1.0931.
Original Resistance: 1.0920.
Inner Sell Area: 1.0909.
Target Inner Area: 1.0884.
Inner Buy Area: 1.0859.
Original Support: 1.0848.
Strong Support: 1.0837. Breakout SELL Level: 1.0831.

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**InstaForex Gertrude** · 06-08-15, 09:12

USD/CAD intraday technical levels and trading recommendations for August 5, 2015

Overview: When bulls pushed the price further above 79.6% Fibonacci level, the market looked quite overbought. That is why, the price failed to hold above 1.2650 - 1.2680 (previous highs) resulting in a formation of successive lower highs (within the depicted consolidation zone) enhancing the bearish side of the market. Daily fixation below 1.2300 opened a way towards the levels of 1.2000 and 1.1940 (the depicted weekly uptrend). Bullish support was found around these levels. Successive higher lows were established. Bullish pressure was applied against the resistance levels of 1.2450 and 1.2500 (previous tops). On the other hand, the previous weekly candlestick came frank bullish. That is why, an extensive bullish movement is seen on the chart. A bullish breakout above the price zone of 1.2770-1.2800 has been executed. Earlier, signs of lacking bullish momentum were manifested on the chart. A bearish corrective movement was initiated towards the levels of 1.2900-1.2850. However, a new bullish swing is taking place today, especially after Friday's bullish engulfing candlestick. The long-term bullish projection target would be located at the level of 1.3270 if enough bullish support is maintained.

Trading recommendations: Traders can wait for a bearish pullback towards the recent breakout zone (1.2800-1.2750) for a valid buy entry as the Breakout level constitutes the recent support. Stop Loss should be located below the level of 1.2700. T/P levels should be located at 1.2850 and 1.2900.

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**InstaForex Gertrude** · 07-08-15, 09:27

Technical analysis of AUD/USD for August 7, 2015

Trading recommendations: As it is known, sellers are asking for a higher price as well as buyers are looking for a lower price. Therefore, the first key level will set at 0.7420. The second key level will set at 0.7380 today. Equally important, the AUD/USD pair has been trading between 0.7420 and 0.7283. Additionally, it should be noted that the range was about 76 pips today and around 173 till next week. Furthermore, the trend was very clear and was indicating downtrend. We expect that the trend is going to call for a bearish market at the level of 0.7420 in the H1 chart (last top). As a result, sell at the level of 0.7420 with the first target at 0.7314. It might resume to 0.7283 in order to test the support. Also, it should be noted that the double bottom will set at 0.7234. On the other hand, your stop loss should be placed above the level of 0.7420, Thus, it will be helpful to set it at the level of 0.7463.

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**InstaForex Gertrude** · 11-08-15, 09:27

Technical analysis of USD/JPY for August 10, 2015

USD/JPY is expected to trade with bullish bias. With the US dollar index traded at 97.712, the greenback has failed to hold its gains made immediately after the US government reported last Friday that non-farm sector added 215K jobs in July (vs +225K expected, +223K in June). Even though the robust number suggests that the Federal Reserve could raise interest rates this year, traders expect rate increases to be slow, and the US dollar's upside is limited. USD/JPY broke above its previous key support at 124.45 and remains upside. The 20-period intraday moving average is below the 50-period one, while the intraday RSI stays within the selling area between 50 and 30. So, even though a continuation of a technical rebound cannot be ruled out, its extent should be limited. The key resistance is set at 124.45 and the first upside target at 125.25 (around last Friday's low). The second downside target is set at further support at 125.60. Technical comment: The daily chart is positive-biased as stochastics is bullish, the MACD histogram bars are turned positive. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price keeps above its pivot point, long positions are recommended with the first target at 125.25 and the second target at 125.60. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 124.30. A break of this target would push the pair further downwards, and one may expect the second target at 124.10. The pivot point is at 124.45.

Resistance levels: 125.25 125.60 126
Support levels: 124.30 124.10 123.70

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**InstaForex Gertrude** · 12-08-15, 09:31

USDX technical analysis for August 12, 2015

The Dollar index is testing the important short-term support level of 97. The Dollar index has made a bearish reversal towards trend line support but bulls continue to hold the upper hands. As long as price is above 97, bulls should feel safer.

Red line - resistance
Green line - support

The Dollar index has pulled back towards 97 area as expected and tested the Ichimoku cloud and the green trend line. Trend remains bullish but with some reversal signs. Bulls will be in danger if we see a daily close below 97. The double top at 98.20 is not a good sign for the next couple of weeks.

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