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Topic: Wave Analysis by InstaForex  (Read 20784 times)

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Offline InstaForex Gertrude

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Re: Wave Analysis by InstaForex
« Reply #45 on: March 28, 2016, 07:17:32 am »
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  • Technical analysis of EUR/JPY for March 28, 2016

    Technical outlook and chart setups:
    The EUR/JPY pair has rallied through 126.80/85 levels as expected and discussed last week. The pair is facing resistance at 126.85 and looking to reverse lower below 124.50 levels going forward. Please also note that bears would remain in control till prices stay below 127.30 levels. The pair is also seen stalling at the fibonacci 0.786 resistance of the drop between 127.25 through 124.50 levels respectively. It is recommended to book profits for any long positions taken earlier and look to go short with risk above 127.30 levels. Immediate resistance is seen at 127.20/30 levels for now, while support is seen at 125.70 and 124.70 levels respectively.

    Trading recommendations:
    Book profits on long positions taken earlier and go short now with stop at 127.30/40 and target open.

    More analysis - at instaforex.com
    Best regards,
    PR Manager


    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #46 on: March 29, 2016, 06:51:16 am »
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  • Daily analysis of USDX for March 29, 2016



    USDX is currently doing a pullback from yesterday's highs, as the Index is still doing some corrective moves in favor of the overall bearish bias. The next target is located around the 95.44 level, where the Index can test that zone in order to strengthen the downside. However, a rebound at the current stage cannot be discarded yet.

    H1 chart's resistance levels: 96.70 / 97.04
    H1 chart's support levels: 96.03 / 95.44

    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 96.03, take profit is at 95.44, and stop loss is at 96.60.

    More analysis - at instaforex.com
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #47 on: March 31, 2016, 06:22:27 am »
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  • Elliott wave analysis of EUR/NZD for March 31 - 2016

    Wave summary:
    We have likely seen a low at 1.6229 just above the 1.6210 target. To confirm that a low has been seen, we need a break above minor resistance at 1.6508 and, more importantly, a break above resistance at 1.6725 that will call for renewed upside pressure towards 1.7220 and 1.8551. Hopefully, we will see upside acceleration this time around, then we will not set our expectations too high as we have been disappointed a couple of times now.

    Trading recommendation:
    We bought EUR at 1.6250 and will place our stop at a break-even point. If you are not long in EUR yet, then buy near 1.6292 or upon a break above 1.6508.

    More analysis - at instaforex.com
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #48 on: April 01, 2016, 06:46:22 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #49 on: April 05, 2016, 07:42:39 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #50 on: April 06, 2016, 07:08:50 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #51 on: April 07, 2016, 07:18:18 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #52 on: April 08, 2016, 06:39:06 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #53 on: April 11, 2016, 06:49:43 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #54 on: April 12, 2016, 06:45:30 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #55 on: April 14, 2016, 05:43:09 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #56 on: April 14, 2016, 06:32:57 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #57 on: April 15, 2016, 06:55:01 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #58 on: April 19, 2016, 07:34:09 am »
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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
    Best regards,
    PR Manager

    Offline InstaForex Gertrude

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    Re: Wave Analysis by InstaForex
    « Reply #59 on: April 20, 2016, 06:59:10 am »
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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
    Best regards,
    PR Manager