rnrnrnrnrnrnForex | Online Forex Trading | Currency Trading | Forex Broker
Client Cabinet

Cotații Forex OnLine

<a href="https://www.instaforex.com/">InstaForex portal</a>
<a href="https://www.instaforex.com/">Forex Romania</a>
<a href="http://www.instaforex.com/?x=MTL">Forex Romania</a>

Instrumente Tranzacționare FOREX

Analize Forex

26.05.2017
02:59 PM


Daily VideoTechnical Analysis | AUD/USD | 26th May 2017

We take a nice detailed look at AUD/USD and see if there are any trading opportunities for us to make some juicy pips!

We combine the art of Fibonacci retracements, Fibonacci extensions, Support & Resistance along with Stochastic and RSI to determine the best entry, stop loss and profit targets.

Subscribe to me for more daily technical analysis!

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

Vezi detalii
26.05.2017
02:58 PM


Daily Video Technical Analysis | NZD/USD | 26th May 2017

We take a nice detailed look at NZD/USD and see if there are any trading opportunities for us to make some juicy pips!

We combine the art of Fibonacci retracements, Fibonacci extensions, Support & Resistance along with Stochastic and RSI to determine the best entry, stop loss and profit targets.

Subscribe to me for more daily technical analysis!

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

Vezi detalii
26.05.2017
02:35 PM


EUR/JPY dropping nicely from our selling area

Price has tested our selling area and is dropping nicely from there. We remain bearish below major resistance at 125.55 (Fibonacci extension, Elliott wave theory, swing high resistance, bearish divergence) for a strong push down to at least 124.72 support (Fibonacci retracement, horizontal swing low support).

Stochastic (55,5,3) is dropping nicely from our 94% resistance with good downside potential.

Correlation analysis: We're expecting general JPY strength with USD/JPY expecting a drop too.

Sell below 125.55. Stop loss at 126.09. Take profit at 124.72.

analytics59283d407a8dc.png

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

Vezi detalii
26.05.2017
02:35 PM


USD/JPY remain bearish below our major resistance

Price continues to drop slowly from our selling area. We remain bearish below major resistance at 112.08 (Fibonacci retracement, horizontal pullback resistance, Elliott wave theory) for a drop towards 110.50 support (Fibonacci extension, horizontal overlap support).

Stochastic (55,5,3) is reversing below our 93% resistance as we expect a strong drop from here.

Correlation analysis: We're expecting general JPY strength with EUR/JPY expecting a drop too.

Sell below 112.08. Stop loss at 112.94. Take profit at 110.50.

analytics59283d2a2fa30.png

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

Vezi detalii
26.05.2017
02:35 PM


NZD/USD dropping nicely from our selling area, remain bearish

Price has reached our selling area and is dropping nicely from it. We remain bearish below major resistance at 0.7051 (Fibonacci extension, Elliott wave theory, horizontal resistance, bearish divergence) for a further drop to at least 0.6987 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance below 96% level and also sees bearish divergence signalling that a drop is impending.

Correlation analysis: NZD/USD and AUD/USD are positively correlated meaning they usually move together in the same direction. We are expecting a bounce on AUD/USD but a drop on NZD/USD, hence it is best to exercise caution on this trade.

Sell below 0.7051. Stop loss at 0.7082. Take profit at 0.6987.

analytics59283d1266bd4.png

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

Vezi detalii
26.05.2017
02:34 PM


AUD/USD profit target reached perfectly, prepare to buy

Price has dropped absolutely perfectly from our selling area and has reached our profit target. We prepare to buy above 0.7441 support (Fibonacci retracement, horizontal swing low support) for a push up and reintegration into the bullish channel for a rise to at least 0.7510 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).

Stochastic (34,5,3) is seeing strong support above the 5.1% where we expect a bounce from.

Correlation analysis: AUD/USD has a strong positive correlation with NZD/USD which means they usually move together. We are expecting a bounce on AUD/USD but a drop on NZD/USD. Hence, it is best to exercise caution on this trade.

Buy above 0.7441. Stop loss at 0.7397. Take profit at 0.7510.

analytics59283cf548bfd.png

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

Vezi detalii
26.05.2017
02:01 PM


Daily analysis of USD/JPY for May 26, 2017

USDJPYH4.png

Overview

The USD/JPY pair holds below the bearish channel's resistance, keeping the negative pressure valid until now, which is supported by the EMA50. Stochastic heads towards the overbought areas, waiting to resume the bearish bias in the upcoming sessions. Therefore, we are waiting for downwards trading in the upcoming sessions with the targets beginning at 109.00 and further towards 106.63. A breach of 111.85 will stop the current negative pressure and push the price to test the 113.97 areas on the near-term basis. The expected trading range for today is between the 110.50 support and the 112.30 resistance.

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

Vezi detalii
26.05.2017
01:59 PM


Daily analysis of GBP/JPY for May 26, 2017

GBPJPYH4.png

Overview

The GBP/JPY pair repeated its fluctuations in the sideways range, which keeps it confined between the support at 143.30 and the resistance level at 145.45. Therefore, we will keep waiting for surpassing these levels to detect the main targets in the upcoming trading. Please review the previous report to determine the expected targets when breaking the main levels. The expected trading range for today is between 143.30 and 145.45.

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

Vezi detalii
26.05.2017
01:57 PM


Daily analysis of Gold for May 26, 2017

GOLDH4.png

Overview

The gold price continues to fluctuate within a sideways track and the price needs to breach one of the key levels represented by the 1,249.94 support and the 1,263.00 resistance to detect its next destination clearly. Therefore, we still remain neutral until we get a clearer confirmation signal for the next trend. Note that a break of the mentioned support will push the price to test the 38.2% Fibonacci correction level at 1,229.32; while a breach of 1,2636.00 will make the price return to the main bullish trend, the first target of which is located at 1,295.37. The expected trading range for today is between the 1,240.00 support and the 1,270.00 resistance.

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

Vezi detalii
26.05.2017
01:55 PM


Daily analysis of Silver for May 26, 2017

SILVERH4.png

Overview

The silver price calmly edges higher approaching our initial target at 17.43, motivated by Stochastic positivity shown on the four-hour time frame. A breach of this level will extend silver gains to 18.30 levels on the near-term basis. Therefore, the bullish trend will remain valid and active for today unless breaking and holding below 16.56 levels. The expected trading range for today is between the 17.00 support and the 17.50 resistance.

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

Vezi detalii
26.05.2017
11:47 AM


GBP/USD analysis for May 26, 2017

analytics592815b014b48.png

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2844. According to the Daily time frame, I found that price broke a sideways channel, which is a sign that sellers took control over the market. There is also a breakout of inside bar formation, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.2760.

Resistance levels:

R1: 1.2990

R2: 1.3015

R3: 1.3045

Support levels:

S1: 1.2930

S2: 1.2910

S3: 1.2875

Trading recommendations for today: consider potential selling opportunities.

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

Vezi detalii
26.05.2017
11:39 AM


EUR/USD analysis for May 26, 2017

analytics59281386a8546.png

Recently, the EUR/USD pair has been trading sideways at the price of 1.1205. According to the 30M time frame, I found a resistance cluster at the price of 1.1230. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1170 and 1.1090.

Resistance levels:

R1: 1.1240

R2: 1.1255

R3: 1.1280

Support levels:

S1: 1.1195

S2: 1.1180

S3: 1.1160

Trading recommendations for today: consider potential selling opportunities.

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

Vezi detalii
26.05.2017
09:58 AM


Fundamental Analysis of AUD/JPY for May 26, 2017

AUD/JPY is currently residing in a corrective volatile structure which seems to widen in a range. Recently, AUD has been affected by negative reports, so AUD lost ground against JPY. On the other hand, Japan presented mixed economic reports today. National Core CPI came in at 0.3%, a bit down than the forecast a 0.4% gain, but the fresh score was better than the previous result at 0.2%. Tokyo Core CPI was positive at 0.1% which was expected to be 0.0% and SPPI also showed a figure of 0.7%, down than the consensus for a 0.9% rise and 0.8% in the previous month. So, some Japan's economic reports showed weak data today. Nevertheless, despite the negative reports JPY has managed to rise against AUD today. If JPY could end the week with such domination, we may see more gains in the future.

Now let us look at the technical chart. The price is currently at edge of breaking below the level 83.00. As of the volatility in the market it would be better to wait for a daily close today before we take a decision on buy or sell position for this pair. Currently, the bias is 60% bearish and 40% bullish. If the price breaks below 83.00 with a daily close today, then we will expect the price to move down towards 81.50 support level. Otherwise, if the price rejects the bears and closes above 83.00 level, then we will consider buy positions with a target at 84.50 resistance level.

analytics5927fc3051669.jpg

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

Vezi detalii
26.05.2017
09:43 AM


Fundamental analysis of USD/CHF for May 26, 2017

USD/CHF has been in a good bearish run since the bounce off the 1.0100 resistance area recently. Switzerland published a negative trade balance report on Tuesday which was at 1.97B versus the expected level at 2.87B. However, the Swiss currency is stronger against USD. Currently CHF is dominating USD in every dimension possible. On the USD side, today the G7 meeting is going on which is expected to bring some volatility to the market. Besides, the preliminary estimates of the GDP growth rate are expected to show an increase of 0.9% which previously was at 0.7%. The durable goods orders is expected to show a negative figure at -1.4% which previously was positive at 0.9%, and Prelim GDP Price Index is expected to be unchanged at 2.3%. If the USD reports fail to meet expectations today, CHF is expected to extend gains in the coming days.

Now let us look at the technical view. The price has already broken below the event level at 0.9960 and currently it is in a non-volatile bearish trend with a target towards 0.9550 area. Some correction may be observed before the price reaches the ground at 0.9550 area. Counter players are currently weak in this market structure. We are in bearish bias in this pair and it will continue till the price breaks above 1.0100 area with a daily close.

analytics5927f8b3b53d3.jpg

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

Vezi detalii
26.05.2017
09:06 AM


Global macro overview for 26/05/2017

Global macro overview for 26/05/2017:

The National CPI index in Japan remains stable in April. The data released overnight revealed that the National CPI rose for a fourth consecutive month in April to the level of 0.4% in line with market expectations. Consumer prices excluding food and energy costs rose 0.1% in April, after falling 0.1% the previous month. The Tokyo Core CPI, which is considered a barometer of nationwide price trends, increased 0.2% and it was better than anticipated increase of 0.1%. The long-term Bank Of Japan inflation target is still at 2.0%, but the declining household spending and tightening job market might make this target difficult to reach. Nevertheless, the Japanese economy is still expanding at a steady pace of 0.5%, so the most appropriate approach for BoJ is to wait-and-see for the further events to unfold.

Let's now take a look at the GBP/JPY technical picture on the H4 timeframe. The Bears have managed to break out below the technical support at the level of 143.31 (38%Fibo) and it looks like the next target for them is at the level of 50%Fibo at the level of 141.03. The Fibonacci projection, however, indicates another target at the 100% expansion at the level of 140.59, which is close to the 61%Fibo at the level of 140.36 and technical support at the level of 140.00. The momentum indicator and stochastic oscillator support the bearish bias.

analytics5927f022066b5.jpg

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

Vezi detalii
26.05.2017
08:42 AM


Global macro overview for 26/05/2017

Global macro overview for 26/05/2017:

Interesting comments from Fed policymaker Leal Brainard regarding the interest rates policy has hit the newswires. In a panel discussion at the Center for Global Development on Thursday, Fed Governor Brainard stated, the "brighter" global economy is posing less risk to the Fed's outlook for the US. "The global economy is brighter than it has been for the last few years," she said in the discussion. Moreover, she added that not only the US economy looks brighter, but the Euro area economy is growing more solidly as well. In conclusion, the positive tone from Brainard suggests the Fed monetary policy towards the interest rate hike did not change since the last meeting and the June meeting interest rate hike is almost certain.

Let's now take a look at the USD/JPY technical picture on the H4 time frame. The USD/JPY pair broke out of a wedge formation, so the price has an open road to 110.50, although it is worth considering small support at the level of 110.85 (May 23rd low). The immediate resistance is now a pierced support around the level of 111.44. Any violation of the level of 110.20 will open the road towards the level of 109.27. Both momentum indicator and stochastic oscillator support the downside bias.

analytics5927ea810cc17.jpg

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

Vezi detalii
26.05.2017
08:15 AM


Trading plan for 26/05/2017

Trading plan for 26/05/2017:

The pound was under pressure overnight, probably due to economic and political reasons. Crude Oil price drop is weighing on commodity currencies and some stock markets indices like Australian. Mixed moods help USD/JPY but EUR/USD is stable, trading around 1.1200 level.

On Friday 26th of May, the event calendar is light in important economic data releases, nevertheless, market participants will pay attention to Durable Goods Orders, GDP Second Release, and Revised UoM Consumer Sentiment data release during the US session.

EUR/USD analysis for 26/05/2017:

The Durable Goods Orders and GDP Second Release are scheduled for release at 12:30 PM GMT today and market participants expect an increase in the US GDP from 0.7% to 0.9% in the first quarter. The Durable Goods Orders are expected to decrease -1.4% in the month of April after a 0.7% increase in March. These would not be drastic decreases and would essentially imply a continuation of a range. The upper end of this range had been reached in the 2013-17 period, so now the orders should move in a steady sideway range. The durable goods are considered to be the key to a higher economic growth rate (together with business investment) but since 2013 the durable goods have been relatively unchanged. Maybe today's better than expected figure would trigger renewed anticipations of stronger than expected GPD in the second quarter.

Let's now take a look at the EUR/USD technical picture on the H4 time frame. There is a clear trading zone between the levels od 1.1170 - 1.1268 that is waiting for a breakout. So far stochastic and momentum indicators are pointing out the downside breakout possibility, but the market does not follow the clues yet. The wait-and-see approach is the best strategy to apply to the current market conditions.

analytics5927e41358391.jpg

Market Snapshot: Crude Oil sell-off continues

After the first leaks regarding the OPEC meeting production cuts extension, the price of Crude Oil deteriorated almost 50% and was stopped at the level of $48.24. Nevertheless, market participants are still waiting for the official statement from OPEC regarding the production cut agreement. The most important support is currently the zone between the levels of $47.88 - $48.24. Breakout below would suggest the bears are in full control over the market again.

analytics5927e41df3ecc.jpg

Market Snapshot: Pound broke the trend line support

The price of GBP/USD has broken below the golden trend line support around the level of 1.2930 and now it trades just below the technical support at the level of 1.2881. Nevertheless, the road to the key longer-term technical support zone between the levels of 1.2706 - 1.2777 is still long. The momentum indicator is pointing to the downside, so the next support at the level of 1.2828 is expected to be tested before any meaningful bounce will occur.

analytics5927e4263ec91.jpg

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

Vezi detalii
26.05.2017
07:26 AM


NZD/USD Intraday technical levels and trading recommendations for May 26, 2017

analytics5927d8739094d.png

In December 2016, a bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed a further advance towards 0.7250-0.7350 (sell zone) where the bearish price action was expected.

Bearish persistence below 0.7250 allowed a further decline towards 0.7100 then 0.6960 that failed to provide enough support for the pair.

That is why a further fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, a bullish breakout was achieved above the depicted key level (0.6960). However, the pair failed to keep enough bullish momentum above 0.7050.

That is why, the NZD/USD pair became trapped within the depicted consolidation range (0.6860-0.6960) once again.

Note the depicted bullish 1-2-3 pattern remains valid as long as bullish fixation above 0.6900-0.6850 is maintained on a daily basis.

The current bullish breakout above 0.6960 should be defended to enhance further bullish movement.

An expected projection target for the pattern is located around 0.7250 provided that bullish breakout above 0.7100 (key level) is achieved on a daily basis.

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

Vezi detalii
26.05.2017
07:24 AM


Intraday technical levels and trading recommendations for USD/CAD for May 26, 2017

analytics5927d7e75d0d6.pnganalytics5927d7efc7702.png

Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel.

In December 2016, a bullish breakout above 1.3300 (50% Fibonacci level) was expected to allow further advance toward 1.3700-1.3750 (the upper limit of the depicted channel).

However, significant bearish rejection was expressed around 1.3580 (recently established top).

During the bearish pullback, the price level of 1.3300 (50% Fibonacci Level) failed to provide enough support to the pair.

This allowed a further bearish movement toward the price level of 1.2970 (61.8% Fibonacci level) where a valid BUY entry was offered in February 2017.

A few weeks ago, the bullish breakout above 1.3300 (50% Fibonacci Level) enhanced further advance toward 1.3440 and 1.3580.

As long as the USD/CAD pair maintains bullish trading above 1.3450-1.3500 (confluence of prominent tops and the recent uptrend line), the market remains bullish. Otherwise, bearish pullback should be expected towards 1.3300.

The expected bullish target would be located around 1.3950 and 1.4030 (the upper limit of the depicted channel and FE 100%).

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

Vezi detalii
26.05.2017
06:38 AM


Trading Plan for EUR/USD and GBP/USD for May 26, 2017

analytics5927c75580f70.jpg

Technical outlook:

The EUR/USD pair continues to consolidate after printing highs at 1.1263 levels earlier. The pair should be poised to drop today during New York Session towards a short-term trend line support as depicted here. The price coordinates expected are 1.1000 levels where support is sould be set. A bullish reversal there could push prices again higher towards 1.15/16 levels. On the flip side, a break below the support trend line would warrant a continued bearish view. Looking into wave counts and the bigger picture, the pair is still producing its counter trend correction that began in early 2017 and the correction is expected to end around 1.15 levels unless a different outcome is seen in the coming days. Immediate resistance is seen at recent highs at 1.1263 levels, while support is strong at 1.0850 levels respectively.

Trading plan:

Please remain short for now with stop above 1.1263, targeting at least 1.1000 levels.

GBP/USD chart setups:

analytics5927c9de7f55c.jpg

Technical outlook:

A bearish reversal scenario of GBP/USD is looking good now. It has paid off to remain just short in recent days and maybe a meaningful top is already in place at 1.3047 levels. The pair has broken below its consolidation range and is seen to be trading comfortable below 1.2900 levels. The long-term story remain intact for a potential bearish resumption towards 1.2000 levels and lower. According to the wave counts as well, prices should now unfold into 5 waves lower from here till 1.3047 levels hold good. As an alternate count though, if prices do not break below 1.2800 levels, there remains a possibility of yet another high before reversing lower towards its long-term bearish trend. Immediate support is seen at 1.2800 levels while resistance is seen at 1.3047 levels,

Trading plan:

Please book profits on short positions taken earlier.

Fundamental outlook:

Please watch out for US GDP figures today at 08:30 AM EST today and expect price volatility.

Good luck!

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

Vezi detalii
26.05.2017
04:21 AM


Elliott wave analysis of EUR/NZD for May 26 - 2017

analytics5927acbd6c65a.png

Wave summary:

We continue to look for signs confirming that a corrective low is in place with the test of 1.5852. A break above minor resistance seen at 1.6014 will be the first good indication that the corrective low of wave [ii] is in place and wave [iii] higher towards 1.6655 is developing.

R3: 1.6237

R2: 1.6154

R1: 1.6014

Pivot: 1.5975

S1: 1.5886

S2: 1.5852

S3: 1.5803

Trading recommendation:

We are long EUR from 1.5665 with stop placed at 1.5800. If you are not long EUR yet, then buy a break above 1.6014 and use the same stop at 1.5800.

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

Vezi detalii
26.05.2017
04:14 AM


Elliott wave analysis of EUR/JPY for May 26, 2017

analytics5927ab1d8121a.png

Wave summary:

We continue to look for a corrective decline into the 123.78 - 124.17 area before the next impulsive rally towards 134.30 and 138.52 should be expected. Short-term resistance is now seen at 125.16 and again at 125.43, Only a break above the later will indicate that the correction is complete and more upside towards 134.30 is developing.

R3: 125.81

R2: 125.43

R1: 125.16

Pivot: 125.00

S1: 124.86

S2: 124.17

S3: 123.78

Trading recommendation:

We will re-buy EUR at 124.20 or upon a break above 125.43.

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

Vezi detalii
26.05.2017
02:44 AM


Technical analysis of EUR/USD for May 26, 2017

EURUSD.jpg

When the European market opens, the thin economic calendar contains just Italian 10-y Bond Auction. The US will release a series of economic reports such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Prelim GDP Price Index q/q, Durable Goods Orders m/m, Prelim GDP q/q, and Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1264.

Strong Resistance:1.1258.

Original Resistance: 1.1247.

Inner Sell Area: 1.1236.

Target Inner Area: 1.1210.

Inner Buy Area: 1.1184.

Original Support: 1.1173.

Strong Support: 1.1162.

Breakout SELL Level: 1.1156.

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

Vezi detalii
26.05.2017
02:42 AM


Technical analysis of USD/JPY for May 26, 2017

USDJPY.jpg

In Asia, Japan will release the SPPI y/y, Tokyo Core CPI y/y, and National Core CPI y/y. The US will release a series of economic reports such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Prelim GDP Price Index q/q, Durable Goods Orders m/m, Prelim GDP q/q, and Core Durable Goods Orders m/m. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Resistance 3: 112.30.

Resistance 2: 112.08.

Resistance 1: 111.86.

Support 1: 111.59.

Support 2: 111.38.

Support 3: 111.16.

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

Vezi detalii
26.05.2017
01:38 AM


Daily analysis of major pairs for May 26, 2017

EUR/USD: This pair has moved between the support line at 1.1150 and the resistance line at 1.1250 (which has been tested several times this week). The resistance line is supposed to be breached to the upside as the market trends upwards. When that happens, the next target would be the resistance line at 1.1300.

1.png

USD/CHF: A bearish signal remains on the USD/CHF pair, although price has moved largely sideways this week (in the context of a downtrend). A rise in momentum is anticipated, which would happen today or next week, and which would most probably favor bears.

2.png

GBP/USD: This market has already generated a "sell" signal. As it was forecasted at the beginning of this week, bearish movements on certain other GBP pairs have forced a bearish propensity on GBP/USD. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. We may see drop of at least, 200 pips between now and the end of next week.

3.png

USD/JPY: The USD/JPY pair has been consolidating to the upside, and this has resulted in a threat to the short-term bearish bias on the market. A movement above the supply levels at 112.50 and 113.00 would result in a Bullish Confirmation Pattern on the 4-hour chart. Then, the indicators on the chart would have all supported a rally. Only the RSI period 14 is giving a bullish signal right now.

4.png

EUR/JPY: This cross pair has also consolidated so far this week, though there is still a bullish outlook on the market. A breakout to the upside is expected today or early next week, which may enable the supply zones at 125.50, 126.00, and 126.50 to be tested. Since the market is currently quiet, there could be a measure of high volatility next week.

5.png

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

Vezi detalii