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    1. #481
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      Re: InstaForex Analytics

      Daily analysis of major pairs for February 26, 2018


      Daily analysis of USD/CHF for February 26, 2018

      USD/CHF
      This pair is something that is often affected by whatever happens to the EUR/USD (in a negatively correlated manner). It tested the resistance level at 0.9400 on Thursday, and then retraced a bit. The resistance level at 0.9400 could be tested again, and even another resistance level at 0.9450. In case, the EUR/USD rallies, the USD/CHF would be sent plunging back towards the support levels at 0.9350, 0.9300 and 0.9250.

      This bearish plunge would end the bullish bias on the market, which is currently short-term. A movement below the support level at 0.9250 would result in a short-term bearish bias, which would eventually become a Bearish Confirmation Pattern in the 4-hour chart.


      Daily analysis of USD/JPY for February 26, 2018

      USD/JPY
      The market was bearish in the long-term. A rally happened last week from Monday to Wednesday, but it was checked by the bearish correction that took place on Thursday and Friday. There are support levels at 106.50, 106.00 and ultimately at 105.50. Those support levels would impede bearish movements and they would eventually help bring about a bullish reversal, which is expected to take place before the end of this week.

      Should the bullish bias occur, the market would be able to gain at least, 150 pips this week, going towards the supply levels at 107.00, 107.50 and 108.00. These supply levels may even be exceeded, for they are initial targets.



      Daily analysis of EUR/JPY for February 26, 2018

      EUR/JPY
      This cross has been going strong downwards since February 2, shedding 700 pips in the process. Nonetheless, the southwards journey will soon be over, as a strong rally is expected, which would eventually remove the current Bearish Confirmation Pattern in the market. The outlook on JPY pairs is bullish for this week, and for the month of March. So, short trades are not advisable.

      The price is currently below the supply zone at 121.50, going towards the zone level at 121.00. Another demand zone at 120.50 may also be tested, but price would not be able to go further than that, since a rally is expected.

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    3. #482
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      Re: InstaForex Analytics

      The ECB (European Central Bank) is disturbed

      Eurozone
      According to the macroeconomic studies published last week, the expansion period of the eurozone economy that lasted for at least two years is coming to an end.

      The evaluation of the ZEW Institute that showed a slowdown in growth rates was confirmed by other studies. All three PMI Markit indices came in worse in January than in December, despite the continuous expansion, the rates are slowing down.

      Business climate indices and economic expectations of IFO in February, significantly slowed down, while the expansion phase is completed. Companies are less satisfied with the current business situation, as euphoria is coming to an end, indices are falling across the entire spectrum of the economy specifically in production, wholesale, and construction.



      The minutes of January meeting of the ECB was published on Thursday, which contained a number of disturbing statements. In particular, a number of ECB members expressed displeasure with the intention of the US authorities to help administrative measures to reduce the dollar, which, among other things, will be reflected in damage to the European economy and reduce import prices.

      The ECB has no unity on the continuation of soft policy since strong economic performance and the growing euro prevents finding the balance.

      On Wednesday, inflation data will be published in the euro area for February. While the outlook is negative which could possibly decline to 1.2%, and will help reduce the euro, update the February lows and attempt to reach the support zone at 1.2105 / 40.

      United Kingdom
      The British pound reacted by reducing the number of negative macroeconomic data. The GDP growth in 4 square meters is composed of 1.4% only, which is lower than expected. The weak data is because of the decline in the consumer demand amid high inflation, which is the minimum result for 5 years.

      The increase of commercial investment in 2017 was 2.1% with a forecast of 2.4%, the growth was unexpected to be completely zero in the fourth quarter.



      According to CBI, the growth of retail sales continues to slow down, the overall balance has decreased to + 8p against + 12p in January, which indicates a decrease in household incomes.

      The pound is under pressure despite the favorable external background. Briefly, the dollar looks stronger but the positive expectations from the Brexit talks on March 22-23 will soon start to have a stronger impact. The formed wedge is threatened with a breakthrough, but its horizontal pattern does not provide an opportunity to indicate the direction. The Support can be found at 1.3855, and the resistance is at 1.4008.

      Oil
      Oil received a number of positive signals last week, which allowed the quotations to come back to the level of $ 70/ barrel. The first factor was the publication of the report from the US Department of Energy, which states that hydrocarbon reserves were reduced by 1.6 million barrels against a backdrop of sustained production growth. While the markets expect an increase in inventories of 1.9 million barrels.

      OPEC was inspired by the success of collaboration intended to change the setup of relations into a long-term direction, for which experts from both OPEC and independent producers are working on. The structure of a new partnership will begin to operate after the expiration of the current agreement in late 2018.

      Oil has the potential for further growth, which is supported by the sustained recovery of the world economy against the backdrop of controlling production volumes. If Brent quotes will be able to hold above 64.20 until next week, it is likely to establish a next high close to January's 70.82.

      * The presented market analysis is informative and does not constitute a guide to the transaction.

      Analysis are provided byInstaForex.

    4. #483
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      Re: InstaForex Analytics

      Elliott wave analysis of EUR/NZD for February 27, 2018



      Wave summary:
      EUR/NZD has rallied nicely and is headed towards the first more substantial resistance near 1.7100. Once this resistance is cleared, the way higher to 1.7470 and 1.7777 is open.

      Support is now seen at 1.6850, and the important support is seen at 1.6780.

      R3: 1.7094
      R2: 1.6990
      R1: 1.6937
      Pivot: 1.6887
      S1: 1.6850
      S2: 1.6780
      S3: 1.6723

      Trading recommendation:
      We are long EUR from 1.6790, and we will move our stop higher to 1.6775.

      Analysis are provided byInstaForex.

    5. #484
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      Re: InstaForex Analytics

      Daily analysis of major pairs for February 27, 2018


      Daily analysis of USD/CHF for February 27 2018

      USD/CHF
      The market did nothing significant on Monday, and thus the bias on the market is neutral in the short-term (while the medium-term bias is bearish). It is expected that this short-term neutral bias would continue for some time until there is a breakout in the market, which would most probably favor bears.

      There are resistance levels at 0.9400 and 0.9450 and there are support levels at 0.9300 and 0.9250. Once the support level at 0.9250 is breached to the downside, the bias on the market would turn bearish. A movement above the resistance level at 0.9450 would reveal the bullish intent.

      Daily analysis of USD/JPY for February 27, 2018

      USD/JPY
      The market was bearish in the long-term. On Monday, nothing significant happened except a tight, sideways movement. There are demand levels at 106.50 and 106.00, which would impede bearish movements and they would eventually help bring about a bullish reversal, which is expected to take place before the end of this week.

      When a breakout happens, it may be in favor of bulls, as price goes towards the supply levels at 107.00, 107.50 and 108.00. This is what can bring about a Bullish Confirmation Pattern in the 4-hour chart, pointing to a northwards propensity.



      Daily analysis of EUR/JPY for February 27, 2018

      EUR/JPY
      On this cross, the southward journey may soon be over this week, which could have been harbingered by the slight rally in the context of a downtrend (which happened on February 26), and which would eventually remove the current Bearish Confirmation Pattern in the market. The outlook on JPY pairs is bullish for this week, and for the month of March.

      When the demand zones at 131.50 and 131.00 are tested – especially the demand zone at 131.00, the recent bearish bias would receive more emphasis. A movement above the supply zones at 132.50 and 133.00 would result in a threat to the bearishness in the market.

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    6. #485
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      Re: InstaForex Analytics

      Data on the US economy supported the US dollar



      Data on inflation in Germany did not affect the quotations of the European currency, as attention was solely focused on the speech of the chairman of the Federal Reserve.

      According to the statistics agency, Germany's preliminary consumer price index rose 0.5% in February from January, while the index grew 1.4% compared to the same period in 2017. These data almost completely coincided with the expectations of experts who projected an increase of 0.5% and 1.5% respectively.

      The base index, which does not take into account the volatile categories of goods, also increased by 0.5% in February and by 1.2% compared to February 2017. Given the fact that the data was in line with economists' forecasts, recent statements by ECB representatives that the stance of monetary policy will remain unchanged, along with the confirmation of such intent by the president of the central bank, Mario Draghi, it speaks of the weak prospects for the growth of the euro in the early spring of this year .

      The data pointing to a drop in demand for goods with a long service life, passed for investors without a trace. According to the report of the US Department of Commerce, orders for durable goods in January this year decreased by 3.7% compared with the previous month. Economists had expected the decline to be 1.6%. As noted in the report, the main drop was mainly due to a 10% decrease in orders for transportation equipment. New orders for capital goods fell by 0.2%. The fall of this indicator is the first "call" that consumers are starting to save more.

      Housing prices in the US in December of last year continued to grow. This report was presented by CoreLogic/Case-Shiller. Thus, the national housing price index in December grew by 6.3% compared to the same period last year. As experts say, the current sharp rise in prices already exceeds the growth of salaries in the US, which can affect inflation this year and slow it down a little.

      Good data on consumer confidence in the US only supported the US dollar, which began its rapid growth after the speech of the new head of the Fed, Jerome Powell.

      According to the Conference Board, the consumer confidence index in February this year reached 130.8 points against 124.3 points in January. Economists had expected the index in February to be 127.0 points. The report also indicates that the volatility of the stock market did not affect consumers who showed higher optimism about short-term prospects.

      Analysis are provided byInstaForex.

    7. #486
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      Re: InstaForex Analytics

      Inflation in the euro area declines for the third consecutive month

      All the attention of traders was focused on the data on inflation in the euro area which disappointed market participants. Inflation in the euro area is declining for the third consecutive month. What can we expect from the euro?

      No matter how it seems, the inflation rate that was set in the autumn of last year is gradually extinguished with the euro zone's CPI is declining for the third consecutive month. This is a very unpleasant fact for the European Central Bank which set a 2% target in the next few years.

      This is also an unpleasant moment for traders who are betting on the further strengthening of the euro at the beginning of this year. The main reason for the lack of demand is the probable postponement of the deadline for the curtailment of the ECB's repurchase program, which was scheduled for the fall of this year. Also, we have to forget about all the talk about raising interest rates in early 2019.

      Let's understand why it happened that way.

      According to today's data, even if it is preliminary, it can be seen that in February this year, the inflation rate in the eurozone slowed for the third month in a row. So, consumer prices in the euro area for the month of February rose by only 1.2% compared to the same period in 2017, which is below the target level of the ECB, set just below 2%. As early as November 2017, inflation showed an increase of 1.5%.



      A number of experts associate a slowdown in inflation with a decline in energy prices, which revived the CPI in 2016 and kept it growing throughout 2017. Also, there is a noticeable lack of a fundamental link between the acceleration of economic growth and the rise in inflation that was to occur. A similar situation is observed in the United States.

      If we talk about core inflation, which does not take into account volatile prices for energy and food products, then growth was at 1%.

      As I have already mentioned, a number of European Central Bank leaders, including its president Mario Draghi, made it clear that as long as there is no concrete evidence of an increase in inflation, no one will talk about a change in soft monetary policy despite good economic growth.

      It is important to note that the strong growth of the US dollar began yesterday after Federal Reserve Chairman Jerome Powell made a speech in the Congress where he said that there was an improvement in the prospects for the US economy, which keeps the Federal Reserve's policy rigid. So he outlined his position on further raising interest rates.

      As for the technical picture of the EURUSD pair, the breakthrough in the support level of 1.2200 could significantly collapse the trading instrument, since there is a mass of monthly stop orders for buyers of risky assets below this range. The breakthrough at the level of 1.2200 will lead to a pair of support in the areas of 1.2130 and 1.2080, which will also allow us to hook the level of 1.2050.

      Analysis are provided byInstaForex.

    8. #487
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      Re: InstaForex Analytics

      Elliott wave analysis of EUR/NZD for March 2, 2018



      Wave summary:
      There is not really anything new to say here. We continue to look for a continuation higher through the resistance at 1.6960 and 1.6999 for a continuation towards 1.7094 and 1.7470 as the next upside targets.

      Short-term support is seen at 1.6867 and again at 1.6809.
      R3: 1.7094
      R2: 1.6999
      R1: 1.6960
      Pivot: 1.6900
      S1: 1.6867
      S2: 1.6809
      S3: 1.6778

      Trading recommendation: We are long EUR from 1.6790 with stop placed at break-even.

      Analysis are provided byInstaForex.

    9. #488
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      Re: InstaForex Analytics


      Daily analysis of major pairs for March 5, 2018


      Daily analysis of USD/CHF for March 5, 2018

      USD/CHF
      This currency trading instrument is bearish in the long-term, neutral in the short-term, and it is quite choppy at the present. The bearishness in the market has been in place since early November 2017; plus last week was rough. Price rose from the support level at 0.9350, went above the resistance level at 0.9450, only to drop towards the support level at 0.9350 again.

      There is a Bearish Confirmation Pattern in the market. A breach of the support levels at 0.9350, 0.9300 and finally, 0.9250, would bring about a bearish outlook on the market. A movement to the upside would save the extant bullish bias.

      Daily analysis of USD/JPY for March 5, 2018

      USD/JPY
      The USD/JPY moved sideways from Monday to Thursday, and then began to come downwards (to place more emphasis on the bearishness of the market). Price has gone below the supply levels at 106.50, and 106.00; and it may test the demand levels at 105.50, breaching it to the downside as another demand level at 105.00 targeted.

      There is currently a Bearish Confirmation Pattern in the 4-hour chart, which pinpoints further southwards movement. On the other hand, a strong reversal could occur, which would result in a threat to the current bearish bias.

      Daily analysis of EUR/JPY for March 5, 2018

      EUR/JPY
      This cross pair is a weak market. It is interesting to see the market being engaged in a long, protracted bearish movement. Since the beginning of February, at least, 700 pups have been shed. In the past few weeks, short-term rallies have been invariably followed by further southwards movements.

      There is currently a Bearish Confirmation Pattern in the market. Price would continue moving downwards towards the demand zones at 130.00, 129.50 and 129.00. Nonetheless, a strong rally is in the offing, as the outlook on EUR pairs is bullish for this week.
      .

      Performed by Azeez Mustapha,
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      Re: InstaForex Analytics

      USD/JPY approaching resistance, prepare to sell



      The price is seeing strong resistance at 106.47 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, descending resistance) and a strong reaction could occur at this price to push it down to 104.77 support (Fibonacci extension). We do have to watch out for intermediate support at 105.24 (horizontal swing low support) which needs to be broken to open a further drop.

      RSI (89) sees descending resistance hold price down really well with its bearish momentum.
      Sell below 106.47. Stop loss at 107.34. Take profit at 104.77.

      Analysis are provided byInstaForex.

    11. #490
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      Re: InstaForex Analytics


      Daily analysis of major pairs for March 6, 2018



      Daily analysis of USD/CHF for March 6, 2018

      USD/CHF
      This currency trading instrument is bearish in the long-term, neutral in the short-term, and it is quite choppy at the present. Price oscillates between the resistance level at 0.9450 and the support level at 0.9300. Price is thus expected to breach any of these boundaries before the end of this week.

      There is a Bearish Confirmation Pattern in the market. A breach of the support levels at 0.9350, 0.9300 and finally, 0.9250, would bring about a bearish outlook on the market. The market is currently trying to go downwards.

      Daily analysis of USD/JPY for March 6, 2018

      USD/JPY
      The USD/JPY did nothing significant on Monday and it is trying to go upwards right now. Price is currently below the supply level at 106.50 and the demand level at 105.50. Price might oscillate between the supply and demand levels and then breach either of them as a directional movement resumes.

      There is currently a Bearish Confirmation Pattern in the 4-hour chart, which pinpoints further southwards movement. On the other hand, a strong reversal could occur, which would result in a threat to the current bearish bias.

      Daily analysis of EUR/JPY for March 6, 2018

      EUR/JPY
      There is recently an upwards bounce in the market – in the context of a downtrend. The upwards bounce is yet to nullify the downtrend, but it would do so as soon as price goes above the supply zone at 132.50, which would require a strong buying pressure. The demand zone at 129.50 was tested this week, and it has thus become a formidable barrier to any bearish propensity.

      There is still a Bearish Confirmation Pattern in the market, but the recent rally has become a threat to the extant bearish outlook. Nonetheless, a strong rally is in the offing, as the outlook on EUR pairs is bullish for this week.
      .

      Performed by Azeez Mustapha,
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      Trading realities: Trading realities

    12. #491
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      Re: InstaForex Analytics

      Daily analysis of EUR/JPY for March 7, 2018

      EUR/JPY
      There is recently an upwards bounce in the market – in the context of a downtrend. The upwards bounce is yet to nullify the downtrend, but it would do so as soon as the price goes above the supply zone at 132.50, which would require a strong buying pressure. Right now, the EMA 11 is almost crossing the EMA 56 to the upside, and the RSI period 14 is above the level 50. Once the EMA 11 is above the EMA 56, the bias on the market would turn bullish.



      There is still a Bearish Confirmation Pattern in the market, but the recent rally has become a threat to the extant bearish outlook. Nonetheless, a strong rally is in the offing, as the outlook on EUR pairs remains bullish for this week.

      Analysis are provided byInstaForex.

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      Re: InstaForex Analytics

      Technical analysis of EUR/USD for March 09, 2018



      When the European market opens, some economic data will be released such as the French Industrial Production m/m, the French Gov Budget Balance, the German Trade Balance, and the German Industrial Production m/m. Meanwhile, the US will also deliver some reports such as the Final Wholesale Inventories m/m, the Unemployment Rate, the Non-Farm Employment Change, and the Average Hourly Earnings m/m. So amid the reports, EUR/USD will move in a medium to high volatility during this day.

      TODAY'S TECHNICAL LEVELS:
      Breakout BUY Level: 1.2369.
      Strong Resistance:1.2362.
      Original Resistance: 1.2350.
      Inner Sell Area: 1.2338.
      Target Inner Area: 1.2309.
      Inner Buy Area: 1.2280.
      Original Support: 1.2268.
      Strong Support: 1.2256.
      Breakout SELL Level: 1.2249.

      Analysis are provided byInstaForex.

    14. #493
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      Re: InstaForex Analytics

      Daily analysis of major pairs for March 10, 2018


      Daily analysis of USD/CHF for March 10, 2018

      USD/CHF
      There was a commendable bullish effort in this market. The USD/CHF is bullish in the near-term. However, it is neutral in the medium-term and bearish in the long-term. Now, in the short-term, price moved sideways from Monday to Wednesday and then rose on Thursday, becoming bullish. From the support level at 0.9350, price rose above the support level at 0.9500, closing above it on Friday.

      There is a short-term Bullish Confirmation Pattern in the market. There could be further upwards movement, but it will not last long because a considerable amount of pullback is expected this week, owing to a bullish outlook on CHF, which may cause other CHF pairs to go.

      Daily analysis of USD/JPY for March 10, 2018

      USD/JPY
      This is a weak market that cannot go seriously upwards. The outlook on the USD/JPY pair remains bearish, but some bullish effort was made last week. For instance, price rose from the demand level at 105.50, to test the supply level at 107.00. This kind of price action can only threaten the extant bearish bias when price gains additional 150 pips, from here.

      There is a slight Bearish Confirmation Pattern in the market, which would become stronger as the market goes further downwards. There are demand levels at 106.50, 106.00 and 105.50. Likewise, there are supply levels at 107.00, 107.50 and 108.00.

      Daily analysis of EUR/JPY for March 10, 2018

      EUR/JPY
      The situation surrounding this cross is quite intriguing. Price moved sideways on March 5, rose upwards later that day and on March 6, but then consolidated throughout last week. The consolidation can continue this week, but a rise in momentum is also expected. When a breakout occurs, it will most likely be in favor of the bear, because the outlook on JPY pairs is bearish for this week.

      There is a Bearish Confirmation Pattern in the market, and it would become clearer as price goes further downwards, owing to a bearish outlook on JPY pairs. Therefore, initial targets may be put at the demand zones of 131.00, 130.50 and 130.00.


      Performed by Azeez Mustapha,
      Analytical expert
      www.instaforex.com
      InstaForex Companies Group

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      Re: InstaForex Analytics

      USD/JPY has reached our profit target perfectly, prepare for further rise



      The price has risen perfectly to our profit target and looks poised to rise further after breaking a strong descending resistance-turned-support line. We look to buy above 106.48 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up to 108.51 (Fibonacci retracement, horizontal pullback resistance). We do have to be cautious about 107.78 resistance as the price might react off that level.

      RSI (89) has made a similar bullish exit signaling a change in momentum from bearish to bullish.

      Buy above 106.48. Stop loss at 105.81. Take profit at 108.51

      Analysis are provided byInstaForex.

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      Re: InstaForex Analytics

      Daily analysis of major pairs for March 13, 2018


      Daily analysis of USD/CHF for March 13, 2018

      USD/CHF
      This pair trended southwards on Monday – in the context of an uptrend. In the short-term term, the market was moving upwards, but that might be ended once the support level at 0.9400 is breached to the downside. It is also possible that price could move upwards from here, thus saving the short-term bullish trend.

      There is a short-term Bullish Confirmation Pattern in the market. There could be further upwards movement, but it will not last long because a considerable amount of pullback is expected this week, owing to a bullish outlook on CHF, which may cause other CHF pairs to go downwards.

      Daily analysis of USD/JPY for March 13, 2018

      USD/JPY
      This is a weak market that cannot go seriously upwards. Nothing significant happened on March 12, but a considerable amount of movement may be seen on Tuesday or Wednesday, as volatility arises. The outlook on the market is bearish for this week, just as it is on certain JPY pairs, which are also expected to go downwards.
      There is a slight Bearish Confirmation Pattern in the market, which would become stronger as the market goes further downwards. There are demand levels at 106.50, 106.00 and 105.50. Likewise, there are supply levels at 107.00, 107.50 and 108.00.

      Daily analysis of EUR/JPY for March 13, 2018

      EUR/JPY
      The condition on the EUR/JPY cross remains unchanged. There is a kind of consolidation in the market. The consolidation can continue this week, but a rise in momentum is also expected. When a breakout occurs, it will most likely be in favor of the bear, because the outlook on JPY pairs is bearish for this week.

      Generally, there is a Bearish Confirmation Pattern in the market, and it would become clearer as price goes further downwards, owing to a bearish outlook on JPY pairs. Therefore, initial targets may be put at the demand zones of 131.00, 130.50 and 130.00.


      Performed by Azeez Mustapha,
      Analytical expert
      www.instaforex.com
      InstaForex Companies Group


      Trading realities: Traders' Mindset

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      Re: InstaForex Analytics

      NZD/USD Intraday technical levels and trading recommendations for for March 20, 2018



      Daily Outlook

      In July 2017, an atypical Head and Shoulders pattern was expressed on the depicted chart which indicated upcoming bearish reversal.
      As expected, the price level of 0.7050 failed to offer enough bullish support for the NZD/USD pair. That's why, further bearish decline was expected towards 0.6800 (Reversal pattern bearish target).
      Evident signs of bullish recovery was expressed around the depicted low (0.6780). An inverted Head and Shoulders pattern was expressed around these price levels.
      The price zone of 0.7140-0.7250 (prominent Supply-Zone) failed to pause the ongoing bullish momentum. Instead, a bullish breakout above 0.7250 was expressed on January 11.
      That's why, a quick bullish movement was expected towards the depicted supply zone (0.7320-0.7390) where evident bearish rejection and a valid SELL entry were expected.
      On February 2, a bearish engulfing daily candlestick was expressed off the price level of 0.7390. Moreover, a double-top reversal pattern was expressed around the price zone (0.7320-0.7390).
      The price zone (0.7320-0.7390) stood as a significant supply zone for the NZD/USD pair. Any bullish pullback towards this price zone should be considered for a valid SELL entry.
      On the other hand, bearish breakdown of 0.7300 (neckline) is needed to confirm the depicted reversal pattern. Bearish projection target would be located around 0.7050 and 0.7000.

      *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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      Re: InstaForex Analytics

      EUR/JPY analysis for March 21, 2018



      Recently, the EUR/JPY pair has been trading sideways at the price of 130.48. According to the 30M time frame, I found that price has broken the upward channel (bearish pennant) in the background, which is a sign that buying looks risky. I also found a strong downward leg in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. Downward targets are set at the price of 130.32 and at the price of 129.60.

      Resistance levels:
      R1: 131.30
      R2: 132.20
      R3: 132.65
      Support levels:
      S1: 129.93
      S2: 129.44
      S3: 128.53

      Trading recommendations for today: watch for potential selling opportunities.

      *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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      Re: InstaForex Analytics

      Technical analysis of NZD/USD for March 22, 2018



      NZD/USD is expected to trade with bullish outlook. The pair is still showing upward momentum after a break-out from a resistance level at 0.7185 (now a key support). Currently, it is trading at levels above both the 20-period and 50-period moving averages while targeting the first upside target at 0.7260 (around the high of March 19). The relative strength index is well directed in the 70s, indicating strong upward momentum for the pair. Upon crossing 0.7260, the next upside target at 0.7280 would come into sight.

      The black line shows the pivot point. Currently, the price is above the pivot point which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.

      Resistance levels: 0.7260, 0.7305, and 0.7350.
      Support levels: 0.7150, 0.7125, and 0.7100.

      Analysis are provided byInstaForex.

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      Re: InstaForex Analytics

      Daily analysis of EUR/JPY for March 23, 2018



      EUR/JPY
      The long-awaited bearish bias has already surfaced on this cross. The price plunged yesterday, breaching the supply zone at 129.50 to the downside. The demand zone at 129.00 was tested before the price bounced upwards (temporarily). The demand zone at 129.00 would be tested once again, and get broken to the downside, as the market moves further downwards.

      There is a Bearish Confirmation Pattern in the market, and it has become clearer as price goes further downwards owing to a bearish outlook on the cross. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50.

      Analysis are provided byInstaForex.

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      Re: InstaForex Analytics

      Daily analysis of major pairs for March 26, 2018


      Daily analysis of USD/CHF for March 26, 2018


      USD/CHF
      The USD/CHF may assume a directional movement this week. In the short-term, this pair is bullish. Since the support level at 0.9200 was tested in February 16, 2018, price has rallied by over 350 pips, moving briefly above the resistance level at 0.9550. The market has been corrected lower since then, closing below the resistance level at 0.9500.

      A rally from here would save the bullish bias; while a plunge from here would render it invalid. Nonetheless, the market is more likely to go upwards as a result of a bearish outlook on EURUSD. A Bullish Confirmation Pattern may be formed in the market.

      Daily analysis of USD/JPY for March 26, 2018

      USD/JPY
      The USD/JPY has been going southwards. The pair traded southwards last week, to corroborate the presence of bears. Since January 8, 2018, price has lost 830 pips. It lost 170 pips last week, after testing the supply level at 106.50. Since there is a huge Bearish Confirmation Pattern in the market, price can still reach the demand levels at 104.50, 104.00 and 103.50 before the end of this week.

      Price does not move in a straight line, and therefore, a rally may occur along the way, but it should not be something that would override the extant bearish outlook on the market. A rise in momentum is expected.

      Daily analysis of EUR/JPY for March 26, 2018

      EUR/JPY
      The conditions in the market is quite choppy. Although the market is choppy, the bearish trend has been maintained. Price has been going southward since February 5, having lost almost 800 pips since then. Last week, there was a rally attempt in the context of an uptrend, which was halted once the supply zone at 131.50 was tested.

      Further upwards movement was effectively prevented. The market shed 250 pips following that, to test the demand zone at 129.00, and closed below the supply zone at 129.50. The expected weakness in EUR, as well as the bearish outlook on the market, may enable the demand zones at 129.00, 128.50 and 128.00 to be tested this week.


      Performed by Azeez Mustapha,
      Analytical expert
      www.instaforex.com
      InstaForex Companies Group

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