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25.09.2017
05:13 PM


BITCOIN Analysis for September 25, 2017

Bitcoin is still struggling to break above $4,000.00 after the fall below the level due to the Chinese ban on exchanges and Initial Coin Offering. There has been a negative bias for the market recently after the ban that led to indecision in the market. There was a certain period when Bitcoin investments were called safe, but currently, due to negative bias in the market, there are chances for the price to go either way. As the time progresses, the bullish trend is coming to a question by the investors which might lead to further correction in the market. Though there are not enough reports or events to decide the upcoming positive move in Bitcoin, but we can see a bullish squeeze in the market. As of the current situation, the price is attacking the $4,000.00 level again but with better impulsive pressure and with a bullish squeeze that has taken the form of the Triangle pattern. As of the pre-breakout structure that is being formed currently, it is expected that the price will have greater chance of breaking above the $4,000.00 level in the coming days with a target towards $4,386.80 and later towards $4,500.00. The Chikou Span is also at the edge of breaking above the candle resistance, where the Kumo Cloud is also holding the price to push higher along with recent Tenkan and Kijun Cross. There are higher chance of a break above $4,000.00 and if that happens with a daily close, it is expected that the price will gain the bullish momentum again to proceed much higher in the future.

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25.09.2017
04:57 PM


Fundamental Analysis of USDJPY for September 25, 2017

USD/JPY has bounced off the resistance level of 112.30 after the impulsive bullish pressure recently. USD has been quite positive with the economic reports and events, which helped the currency to gain further over JPY that could not sustain the gain till now. Today JPY Flash Manufacturing PMI report was published with a slight increase to 52.6 from the previous figure of 52.2, which was expected to increase to 53.4. Though the economic report was better than the previous one, it was not provide a better-than-expected result, thus affecting the currency. Along with this, BOJ Governor Kuroda has been quite hawkish and he is expecting the inflation target to achieve 2% very soon though there are certain risk for the yen in the coming days, which might weaken the currency. On the USD side, today FOMC Member Dudley's speech was quite neutral having no hints for the upcoming market movements and FOMC Member Evan speech is also expected to be mostly the same, which is going to take place today. To sum up, though USD started the day with a higher push against JPY, but despite having a worse-than-expected economic report, JPY has currently shown good gains against USD, which does hint us that the Yen is going to dominate USD for the coming days until USD comes up with better economic reports.

Now let us look at the technical view. The price is currently residing below the resistance level of 112.30, which has been retested today as well. Currently, the price is expected to reach the support area of 110.20-60 as the price remains below the 112.30 resistance level. As of the recent impulsive bullish move towards the 112.30, the bearish move towards the support area of 110.20-60 is expected to be quite corrective in nature.

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25.09.2017
04:14 PM


Daily analysis of USD/JPY for September 25, 2019

USDJPYH4.png

Overview

The USD/JPY pair bounced bullishly after forming the 111.75 solid support against the price recent negative attempts and stack between the mentioned support and the 112.80 resistance, which represent 61.8% and 76.4% Fibonacci correction levels, respectively. Therefore, we expect sideways trading between these levels until the price manages to breach one of them. Note that breaking the mentioned support will push the price to resume the main bearish trend, which main targets begin at 110.06 and extend to 109.00; while breaching the resistance represents the key to extend the pair's gains to reach the previously recorded top at 114.49 as the next main station. The expected trading range for today is between the 111.50 support and the 113.20 resistance.

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25.09.2017
04:12 PM


Daily analysis of GBP/JPY for September 25, 2017

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Overview

Despite the GBP/JPY pair's stability above the 150.00 initial support, we notice formation of sideways trading by moving below 152.80 due to a lack of bullish momentum. Meanwhile, stochastic's exit from the oversold areas forms the main factor of the current sideways trading. The price is likely to gather new bullish momentum in the near term and surpass the current barrier to reach the second target at 155.60. We remind you that attempting to break the initial support will confirm correctional bearish bias formation for the upcoming trading to move towards 147.80 before achieving any new positive target. The expected trading range for today is between 150.00 and 152.80.

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25.09.2017
04:09 PM


Daily analysis of Gold for September 25, 2017

GOLD-3.18H4.png

Overview

The gold price began to rebound bearishly after retesting 1,299.20 levels, affected by the negative signal provided by stochastic and the negative pressure coming by the EMA50. This reinforces the chances of correctional bearish trend continuation, which next target is located at 1281.17. Therefore, the bearish bias will be dominant in the upcoming sessions unless breaching and holding above 1,299.20 levels as the breach of this level will push the price to start recovery attempts that target the 1,321.49 areas initially. The expected trading range for today is between the 1,281.17 support and the 1,300.00 resistance.

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25.09.2017
04:07 PM


Daily analysis of Silver for September 25, 2017

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Overview

The silver price continues to fluctuate within a tight track with slight bearish bias, moving below the 17.00 barrier. This makes us keep our bearish overview on the intraday basis, targeting a test of 16.56 levels mainly. Therefore, we will be waiting for a deeper decline in the upcoming sessions supported by the EMA50. Keep in mind that holding below 17.43 represents the key condition to continue the suggested decline. The expected trading range for today is between the 16.70 support and the 17.00 resistance.

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25.09.2017
01:44 PM


GBP/USD analysis for September 25, 2017

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Recently, the GBP/USD pair has been trading sideways at the price of 1.3505. According to the 15M time frame, I found lower lows and lower highs, which is a sign that sellers are in control. There is also an overbouth zone on RSI oscilator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.3450.

Resistance levels:

R1: 1.3565

R2: 1.3600

R3: 1.3625

Support levels:

S1: 1.3510

S2: 1.3480

S3: 1.3450

Trading recommendations for today: watch for potential selling opportunities.

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25.09.2017
01:36 PM


EUR/USD analysis for September 25, 2017

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Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1862. According to the 30M time frame, I found a broken Asian ses. low and weak demand in the background, which is a sign that buying looks risky. I also found that price is trading in the downward channel, which is another sign of weakness. My advice is to watch for potential selling opportunities. I placed Fibonacci expansion to find potential downward targets. I got Fibonacci expansion 100% at the price of 1.1830 and Fibonacci expansion 161.8% at the price of 1.1760.

Resistance levels:

R1: 1.1935

R2: 1.1964

R3: 1.1965

Support levels:

S1: 1.1910

S2: 1.1888

S3: 1.1880

Trading recommendations for today: watch for potential selling opportunities.

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25.09.2017
01:25 PM


Bitcoin analysis for September 25, 2017

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The Bitcoin (BTC) has been trading sideways at the price of $3.775. The news about China is still a big threat for buyers.Chinese bitcoin exchange ViaBTC has announced it will cease trading at the end of September – the second exchange in as many days to do so.According to an announcement, following the recent statement from the People's Bank of China and other authorities on exchange regulation and ICO risks, ViaBTC has decided to shutter its China-facing website. The Techincal picture is still bearish and buyers are weak.

Trading recommendations:

According to the 1H time frame, I found strong resistance cluster at the price of $3.810. The strong support now became strong resistance, which is a sign that buying looks risky. There is also a broken rising wedge 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 $3.463 and $2.978.

Support/Resistance

$3.810 –Resistance cluster (price action)

$4.000 – Major cluster resistance (price action)

$3.651 – Intraday support (price action)

$3.463 – Pattern objective target

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25.09.2017
11:50 AM


NZD/USD Intraday technical levels and trading recommendations for September 25, 2017

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Daily Outlook

In February 2017, the depicted short-term downtrend was initiated around the depicted supply zone (0.7310-0.7380).

However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.

The price zone of 0.7150-0.7230 (Key-Zone) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.

This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which was temporarily breached to the upside.

Recent bearish pullback was executed towards the price zone of 0.7310-0.7380 (newly-established demand-zone) which failed to offer enough bullish support for the NZD/USD pair.

Re-consolidation below the price level of 0.7300 enhances the bearish side of the market. This brings the NZD/USD pair again towards 0.7230-0.7150 (Key-Zone) where recent weak bullish recovery was manifested earlier in September.

An atypical Head and Shoulders pattern is being expressed on the depicted chart indicating high probability of bearish reversal.

The current price levels of 0.7320-0.7350 can be watched for a valid SELL entry if enough bearish rejection is expressed.

Breakdown of the neckline 0.7150 confirms the reversal pattern. Expected bearish targets are located around 0.7050, 0.6925 and eventually 0.6800.

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25.09.2017
11:49 AM


Intraday technical levels and trading recommendations for EUR/USD for September 25, 2017

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Monthly Outlook

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.

In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997.

In the longer term, the level of 0.9450 remains a projected target if any monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0500.

However, the EUR/USD pair has been trapped within the depicted consolidation range (1.0500-1.1450) until the current bullish breakout was executed above 1.1450.

The current bullish breakout above 1.1450 allows a quick bullish advance towards 1.2100 where price action should be watched for evident bearish rejection and a valid SELL Entry.

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Daily Outlook

In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.

As anticipated, the ongoing bullish momentum allowed the EUR/USD pair to pursue further bullish advance towards 1.1415-1.1520 (Previous Daily Supply-Zone).

The daily supply zone failed to pause the ongoing bullish momentum. Instead, evident bullish breakout is being witnessed on the chart. The next Supply level to meet the pair is located around 1.2100 (Level of previous multiple bottoms) where bearish rejection and a valid SELL entry can be anticipated.

On the other hand, If bearish pullback persists below 1.1800 (the depicted uptrend line) and 1.1700, a quick bearish decline should be expected towards the price zone of 1.1415-1.1520 where BUY entries can be offered.

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25.09.2017
11:32 AM


Trading Plan for EUR/USD and GBP/USD for September 25, 2017

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Technical outlook:

We are now entering into the last trading week for September 2017 and the trade setups are looking both promising and exciting for coming months. A short term chart has been presented with the most probable wave count in EUR/USD today. If you look at the counts here, an impulse wave (1) has been followed by a corrective wave (2) as labelled here. If this count proves to be true, prices should remain above 1.1860 levels and a quick wave (3) should be produced, followed by waves (4) and (5). This rally could take prices above 1.2100 levels easily and then reverse sharply lower towards the larger trend. Immediate support is seen at 1.1860 levels, while resistance is at 1.2090 levels respectively. On the flip side, a break below 1.1860 levels from here would prove extremely encouraging to bears.

Trading plan:

Aggressive traders should look to go long now, with stop below 1.1860, target at least 1.2100 levels.

Conservative traders please remain flat for now and look to go short above 1.2100 levels.

GBP/USD chart setups:

analytics59c8e6ef64781.jpg

Technical outlook:

The GBP/USD short-term wave count has been presented here, as we are approaching the last trading week for this month. A shorter-term wave count suggests there is still some upside left in GBP/USD before it looks to reverse lower again. The rally from 1.3440 through 1.3570 looks to be an impulse labelled as wave 1. The subsequent drop is in three waves labelled as wave 2. A bullish reversal here would confirm that the next probable move is on the north side towards 1.3650 levels at least. For this count to hold true, prices should remain above 1.3440 levels for now. Please note that this could be the last leg rally before GBP/USD reverses lower in a big way towards the larger down trend. The upside should be limited towards 1.3700/50 levels in this rally, with resistance in place at 1.3650/55 and support is seen through 1.3440 levels respectively.

Trading plan:

Aggressive traders could remain long for now with risk below 1.3440, target 1.3650 levels at least.

Conservative traders should remain flat for now and look to sell at higher levels.

Fundamental outlook:

Please watch out for ECB President Mr Draghi's speech at 09:00 AM EST today.

Good luck!

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25.09.2017
10:51 AM


Global macro overview for 25/09/2017

Global macro overview for 25/09/2017:

After receiving the biggest vote over the weekend, New Zealand's Prime Minister, Bill English is claiming the right to form the next government, but with the National Party's share of the vote only 46%, and only 58 seats in the 120 seat parliament, it looks as if he will need to form a coalition. The previous minority government worked with a supply agreement with the ACT (1 seat), but the arithmetic for this no longer works with the loss of one of the National Party's seats. So now, the most obvious choice for Bill English, would be a tie-up with the New Zealand First Party, which most known for its anti-immigration stance (they won 7.5% of the votes delivering 9 seats (down from 12)). Nevertheless, such a deal is by no means a certainty, and Jacinda Ardern, Labour's leader (Labour got 35.8% of the vote), is not giving up. A three-way coalition including the Greens cannot be ruled out. Labour's vote share delivered 45 seats, a rise of 13 seats taken broadly from all other parties, but in particular the Green Party, which lost 7 seats leaving it with 7 remaining.

In conclusion, political uncertainty is the only sure outcome over the coming weeks as coalition talks continue, which is likely to weigh on the NZD in the meantime as the markets do not like uncertain times.

Let's now take a look at the EUR/NZD technical picture at the H4 time frame. The market is moving inside of a parallel channel and the recent attempt to break out from it looks fake. The most importantly technical support is still the 38%Fibo at the level of 1.6130 as any violation of this level would immediately lead to the test of the level of 1.6000 and 50% Fibo at 1.5958.

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25.09.2017
10:25 AM


Global macro overview for 25/09/2017

Global macro overview for 25/09/2017:

Chancellor Merkel will remain in office for the fourth term, but support from other political factions will be needed. The main parties have historically achieved the worst results since the 1940s, with the Bundestag, with the third, the far right. In the lower chamber for the first time since the 1950s, there will be as many as six groups. After the first series of comments, expect the so-called: Jamaica-Coalition, that will include CDU / CSU, FDP and Green Party agreement. It is worth remembering that after the last coalition of the CDU / CSU the liberals threatened to disappear from the political scene of Germany, which should make the FDP not an easy coalition. Such a composition of the coalition and it's approximately 52% the number of votes reduces the chances for an ambitious reform agenda, especially as regards the functioning of the European Union (contradictory positions of the Greens and FDP).

In conclusion: political uncertainty is growing in Germany. In the nearest future, European policy will adversely affect the strength of the Euro and the valuation of European assets. The illusion created after the French presidential (and Dutch parliamentary) elections has ended, suggesting that the support for extremist groups and movements has begun to sharply decrease.

Let's now take a look at the EUR/JPY technical picture at the H4 time frame. After the clear rejection of 78%Fibo at the level of 134.31, the price has started to decrease towards the next important technical support at the level of 132.01. This view is being supported by overbought market conditions and downward pointing momentum indicator.

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25.09.2017
10:18 AM


Fundamental Analysis of EUR/USD for September 25, 2017

EUR/USD has been quite volatile lately which recently showed bearish impulsiveness after the FOMC Statement and Federal Funds rate report was published. EUR/USD has struggled to break above the 1.2050 resistance level which leads to further bearish pressure which is expected to continue further in the coming days. As of the German Election yesterday Merkel has won a majority of the votes as expected yet the result to be published and the effect is expected to remain for weeks. Today German Ifo Business Climate report was published with a decrease to 115.2 from the previous figure of 115.9 which was expected to have a slight increase to 116.0. On the USD side, today FOMC Member Dudley and FOMC Member Evans are going to speak about the interest rate decision and upcoming monetary policies which are expected to have a moderate impact on the market today. To sum up, EUR has shown weakness already after the German Election this week which is expected to continue further whereas USD has been quite hawkish in nature recently and have high impact economic reports like Quarterly GDP to be published this week. Until EUR comes up with positive economic reports to shake out the USD gains, USD is expected to gain more in the coming days.

Now let us look at the technical view, the price is currently residing below 1.1900 resistance level after the pair started the week with a bearish GAP today. Though the GAP has been filled already and the price rejected the bull off the GAP area which is expected to lead the price further down towards 1.1710 support level in the coming days. As the price remains below 1.1900 with a daily close the bearish pressure is expected to continue further.

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25.09.2017
09:25 AM


Bitcoin analysis for 25/09/2017

According to James Altucher (an American hedge fund manager) newsletter report, Amazon will soon begin accepting Bitcoin payments, which will officially be announced on October 26 at their conference. Co-founder of the world's largest online store is known for sharing information that helps to leverage modern tools in a positive way. Bitcoin is now one of them. Amazon Web Services has partnered with Digital Currency Group in 2016, one of the largest Bitcoin companies, as well as other investment firms, financial institutions, and cryptocurrency experts. Amazon's goal is to mediate between DCG's portfolio and customers in a digital currency exchange. Altucher claims that the announcement of this news may cause Bitcoin's value to increase, contrary to what Dimon told JP Morgan recently. What contributed to the cryptanalysts' appeal was their ability to revolutionize everything in the financial sphere - from changing governments to unethical banking practices, because there is no centralized server.

Let's take a look at the Bitcoin technical picture at the H4 time frame. The price is still trading around the weekly pivot at the level of $3,738, still below the dashed black trend line. Nevertheless, the market is picking up from the oversold conditions and might trigger the up move anytime soon as the larger time frame trend remains bullish. The key area to the upside is still the zone between the levels of $4,000 - $4,1111.

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25.09.2017
09:07 AM


Trading plan for 25/09/2017

Trading plan for 25/09/2017:

The Euro and the New Zealand Dollar are under pressure of weekend voting results, and the politics also has a negative impact on the Yen's strength. Chancellor Merkel will remain in office for the fourth term, but support from another political faction will be needed. NZD is losing almost one percent (NZD / USD is at 0.7275) after the ruling Conservative Party was unable to get the majority.

On Monday 25th of September, the event calendar is light in the important news release, but the market participants will keep an eye on Ifo Busines Climate data from Germany and speeches from FOMC Member William Dudley and Charles Evans. ECB President Mario Draghi will be speaking as well later during the day.

EUR/USD analysis for 25/09/2017:

The Ifo data were all worse than anticipated. Ifo Business Climate was released at the level of 115.2 points, while the market participants expected a number of 116.0 points after 115.7 points a month ago. The Ifo Current Assesment was released at the level of 123.6 points while the market participants expected 124,7 points, just as a month ago. The last Ifo indicator, Ifo Expectations was weaker as well as it was released at 107.4 points, while market participants expected 108.0, just as a month ago. Despite the fact, that this month's Ifo figures, which are based on ca. 7,000 monthly survey responses of firms in manufacturing, construction, wholesaling and retailing) are slightly worse than expected, the levels of sentiment in Germany are still elevated and still will support the Euro across the board. It will be interesting to see the change in sentiment after the parliamentary election, but this will be available next month.

Let's now take a look at the EUR/USD technical picture at the H4 time frame. The pair gaped down slightly but the gap was quickly filled and now the level of 1.1936 will act as an intraday resistance. The pair is trading inside of a horizontal range between the levels of 1.1821 - 1.2000 as the upward momentum is decreasing. The market participants must wait for the decisive breakout in either direction now, but the larger time frame outlook remains bullish.

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Market Snapshot: Gold still inside of a channel

The price of Gold continues to trade inside of the golden channel after the attempt to break through the technical resistance at the level of $1,298 failed. The market conditions are still oversold, but the momentum is not pointing to the north, so the possibility of another leg down in this market is still high. The next technical support is seen at the level of $1,276.

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Market Snapshot: Bounces from support

After a failed rally towards new high, the NZD/USD dropped to the level of 0.7247, where the technical support was. Currently, the market bounced from that support but is still locked in a trading range between the levels of 0.7343 - 0.7247. The most important resistance for bulls is the area between the levels of 0.7391 - 0.7435.

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25.09.2017
08:54 AM


Technical analysis of GBP/USD for September 25, 2017

GBPUSDDaily.png

Overview:

  • Pivot: 1.3458.
  • The GBP/USD pair continues to move upwards from the level of 1.3458. Today, the first support level is currently seen at 1.3298, the price is moving in a bullish channel now.
  • Furthermore, the price has been set above the strong support at the level of 1.3298, which coincides with the 78.6% Fibonacci retracement level.
  • This support has been rejected three times confirming the veracity of an uptrend. According to the previous events, we expect the GBP/USD pair to trade between 1.3298 and 1.3655.
  • So, the support is seen at 1.3298, while daily resistance is found at 1.3655. Therefore, the market is likely to show signs of a bullish trend around the spot of 1.3298.
  • In other words, buy orders are recommended above the spot of 1.3298 with the first target at the level of 1.3655; and continue towards 1.3886 in coming days.
  • However, if the GBP/USD pair fails to break through the resistance level of 1.3655 today, the market will decline further to 1.3298.
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25.09.2017
08:41 AM


Technical analysis of EUR/USD for September 25, 2017

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Overview:

  • Last week, the EUR/USD pair fell from the level of 1.1994 towards 1.1897. Right now, the price is set at 1.1924. The resistance is seen at the level of 1.1994 and 1.2037. Moreover, the price area of 1.1994/1.2037 remains a significant resistance zone. Therefore, there is a possibility that the EUR/USD pair will move downside and the structure of a fall does not look corrective. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside. Thus, amid the previous events, the price is still moving between the levels of 1.1964 and 1.1897. If the EUR/USD pair fails to break through the resistance level of 1.1994, the market will decline further to 1.1897 as the first target. This would suggest a bearish market because the RSI indicator is still in a negative spot and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.1837 so as to test the double bottom. On the contrary, if a breakout takes place at the resistance level of 1.2037, then this scenario may become invalidated.
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25.09.2017
08:16 AM


Trading plan: 25 - 29.09.2017

Trading plan: 25 - 29/09/2017

The general picture: The market is preparing for the movement.

Monday morning is influenced by the elections in Germany. Formally, Merkel won but in fact, significantly weakened the position of Merkel inside Germany.

The CDU party lost 8% compared to the previous elections and received 33%. The main thing is that the second party of the SPD party leaves the ruling coalition for opposition. Merkel will be forced to create a coalition with small parties, the Free Democrats and the Greens.

The EUR/USD rate fell at the opening with a gap of 45 points, then the gap was closed.

We see a clear range with the actual boundaries of 1.1860 and 1.2005.

We are ready to sell at breakthrough 1.1860 down and buy at the break of 1.2005 upward.

Stop-loss for 45 points, the minimum profit is 100 points.

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25.09.2017
07:54 AM


EURUSD will fall due to elections in Germany

EURUSD will fall due to elections in Germany.

Last minute burning forecast 25.09.2017

The main event on Monday morning: the results of the elections in Germany - the elections strongly weakened Merkel, this will put pressure on the euro.

Merkel's Party (CDU) won first place (33%), but this is the worst result in nearly 70 years of elections, a 9% loss compared to the previous elections. The second concern - AfD got the third place with 12% ("Alternative for Germany") - a radical right-wing semi-fascists, many call them heirs of the Hitler party of the NSDAP.

But the main concern for Merkel is the Socialists (SPD), the second strongest party (20% of the vote) - which pulled out of Merkel's coalition and then went into opposition.

Thus, the only option for Merkel is to form a majority in the parliament - and get the post of Chancellor - head of government - in order to create a coalition with two small parties - the Free Democrats and the Greens - 11% and 9% of the vote. This makes Merkel and her government quite vulnerable and objectively weak.

The weakening of Germany's domestic authorities is inevitably weakening the EU as a whole.

This weakens the EURUSD pair.

We sell the euro from 1.1940 - and are prepared to sell for a breakthrough down from 1.1860.

The level of a cancellation in selling: 1.2005 - with the breakthrough of 1.2005 and afterwards we buy.

analytics59c8aee73d4da.jpg

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25.09.2017
07:47 AM


Technical analysis of USD/JPY for September 25, 2017

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USD/JPY is expected to trade with a bullish bias above 111.95. The technical outlook of the pair is bullish as the prices are supported by a bullish trend line since September 22. The 20-period moving average is turning up and is about to cross above the 50-period one. The relative strength index is calling for a new upleg.

Hence, as long as 111.95 is not broken, look for a further upside to 112.60 and even to 113.00 in extension.

Alternatively, if the price moves in the opposite direction, a short position is recommended below 111.95 with a target at 111.60.

Chart Explanation: The black line shows the pivot point. The current price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a short position. The red lines show the support levels and the green line indicates the resistance level. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 111.95, Take Profit: 112.60

Resistance levels: 112.60, 113.00 and 113.45 Support Levels: 111.60, 111.20, 110.80

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

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25.09.2017
07:31 AM


Technical analysis of USD/CHF for September 25, 2017

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USD/CHF is expected to trade with a bearish outlook. The pair is supported by a rising trend line since September 22, which confirms a bullish view. The golden cross between the 20-period and 50-period moving averages has been identified, indicating a positive signal. The relative strength index is calling for a new upleg.

Therefore, as long as 0.9675 holds on the downside, look for a further rise with targets at 0.9745 and 0.9765 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 0.9675, Take Profit: 0.9745

Resistance levels: 0.9745, 0.9765, and 0.9795

Support levels: 0.9650, 0.9625, and 0.9775

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

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25.09.2017
07:13 AM


Technical analysis of GBP/JPY for September 25, 2017

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From the technical point of view on GBP/JPY, the 30 minutes relative strength index is around its neutrality area and crossed above its signal line. The pair has been drawing to a support area at 151.50.

As a consequence, as long as 151.50 holds as support, a rebound towards 152.90 and at 153.40 is expected.

Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 151.50 with the target at 151.15.

Strategy: BUY, Stop Loss: 151.50, Take Profit: 152.90

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 152.90, 153.40 and 154.00

Support levels: 151.15, 150.60, and 150.00

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

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25.09.2017
07:08 AM


Ichimoku indicator analysis of USDX for September 25, 2017

The Dollar index made a bullish reversal on Friday and held above cloud and trend line support. This price action justifies continuation of the upward bounce as long as price is above 91.80.

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Blue line - resistance trend line (broken)

The Dollar index broke above the trend line and the 4-hour Kumo (cloud). It pulled back to back test the breakout area and is now bouncing higher. Bulls need to see a higher high above 92.70 to be more confident of the bullish short-term trend. Support is at 92-91.70 area.

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Red lines - bearish channel

The Dollar index remains inside the daily bearish channel and below the daily Kumo (cloud). Price is now trading above the kijun-sen. A daily close above it will open the way for a move higher towards 93-94.

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

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