InstaForex Wave Analysis - page 189
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Technical analysis of USD/CAD for December 5, 2014
Overview:
The trading recommendations today will give its impact in the short term. Also, we should remember that history will probably repeat itself at this level again. Thus, according to the previous events, the USD/CAD pair is going to move between 1.1313 and 1.1454. In particular, the double bottom has set at the price of 1.1314 and the support is represented at the same level on H4 chart. Consequently, the trend may fail to close below the strong support at 1.1313. So, buy below the level of 1.1313 with the first target at 1.1418, then it will be continued towards 1.1554 in order to test this strong support. The stop-loss is to be placed below the level of 1.1313. On the other hand, the strong resistance will be formed at the level of 1.1465 (100% Fibonacci retracement levels) providing a clear signal for sell deals with the targets seen at 1.1420 and 1.1393.
Intraday technical levels:
Date:5/12/2014 Pair:USD/CAD
R3: 1.1463
R2: 1.1430
R1: 1.1406
PP: 1.1373
S1: 1.1349
S2: 1.1316
S3: 1.1292
More analysis - at instaforex.com
Daily analysis of major pairs for December 9, 2014
EUR/USD: After testing the support line at 1.2250, EUR/USD price bounced upwards, and the upwards bounce can continue a bit further upwards. For the upwards bounce to be strong enough to threaten the existing bearish bias, it must go above the resistance line at 1.2500; otherwise this may be another opportunity to sell short.
More analysis - at instaforex.com
Technical analysis of EUR/USD for December 10, 2014
When the European market opens, some economic news will be released such as French Final Non-Farm Payrolls q/q and French Industrial Production m/m. The US will release the economic data too such as the Crude Oil Inventories, 10-y Bond Auction, Federal Budget Balance. So, amid the reports, EUR/USD will move low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2446.
Strong Resistance:1.2439.
Original Resistance: 1.2427.
Inner Sell Area: 1.2415.
Target Inner Area: 1.2386.
Inner Buy Area: 1.2358.
Original Support: 1.2345.
Strong Support: 1.2334.
Breakout SELL Level: 1.2327.
More analysis - at instaforex.com
Daily analysis of GBP/USD for December 11, 2014
The GBP/USD pair is conducting a breakout at the level of 1.5698, because this pair intends to go up to where the 200-day moving average is located on the H4 chart. This move is probably since the GBP/USD pair managed to consolidate above the bearish trend line that was putting pressure on the level of 1.5650. However, for the rest of the week, movements in a low range are expected.
H4chart's resistance levels: 1.5811 / 1.5874
H4chart's support levels: 1.5698 / 1.5589
More analysis - at instaforex.com
Technical analysis of EUR/USD for December 12, 2014
When the European market opens, some economic news will be released such as German WPI m/m, Industrial Production m/m, and Employment Change q/q. Besides, the US will release the economic data too such as the PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, and Prelim UoM Inflation Expectations. So, amid the reports, EUR/USD will move low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2455.
Strong Resistance:1.2448.
Original Resistance: 1.2436.
Inner Sell Area: 1.2424.
Target Inner Area: 1.2395.
Inner Buy Area: 1.2366.
Original Support: 1.2354.
Strong Support: 1.2342.
Breakout SELL Level: 1.2335.
More analysis at instaforex.com
Elliott wave analysis of EUR/JPY for December 15 - 2014
Technical summary:
Wave c of the correction from 149.13 is developing. Till now, we have seen wave a and b and wave c is currently unfolding. Red wave i ended at 147.69 and red wave ii is unfolding towards the 148.50 - 148.89 area from where the more powerful red wave iii lower to 145.88 is expected. The first target for this correction is found at 144.78. That said, wave c could easily extend lower to 142.05, but for now let's see what will happen as we approach 144.78.
Trading recommendation:
We are short in EUR from 147.97 and will move our stop to break-even and re-sell EUR at 148.50 with stop placed at 149.20 if/when our stop is hit.
More analysis - at instaforex.com
Daily analysis of major pairs for December 16, 2014
EUR/USD: This currency trading instrument is still bullish as bulls keep on flexing their muscles. The price is above the support line at 1.2400, going towards the resistance line at 1.2450 (which might be breached to the upside again). That resistance line has taken several beatings already. The ultimate target is at the resistance line at 1.2500.
More analysis - at instaforex.com
Technical analysis of Gold for December 17, 2014
Technical outlook and chart setups:
Gold is trading at sub $1,200.00 levels after making highs at $1,222.00/23.00 yesterday. The yellow metal remained just shy of the $1,270.00/80.00 mark, which is defined as the best buy for now. Immediate support is seen at $1,170.00, followed by $1,142.00, $1,130.00 and lower while resistance is seen at $1,255.00 and higher respectively. It is recommended to initiate long positions around $1,170.00/80.00 levels, risk remains below $1,140.00. Bulls are expected to remain in control till prices stay above $1,140.00. A break there could be extremely bearish and push prices lower into the $1,030.00/50.00 region.
Trading recommendations:
Remain flat for now, look to buy around $1,170.00/80.00 levels.
More analysis - at instaforex.com
Technical analysis of USD/JPY for December 18, 2014
No economic data is expected in Japan today. As for the US, it will release some economic data such as Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, Flash Services PMI, and Unemployment Claims. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 119.28.
Resistance. 2: 119.05.
Resistance. 1: 118.82.
Support. 1: 118.54.
Support. 2: 118.31.
Support. 3: 118.07.More analysis - at instaforex.com
USDX Technical analysis for December 19, 2014
The Dollar index is making a short-term pullback as expected by our previous post. However, a trend remains bullish in all time frames. The longer-term target since early October is the 91 level as this is the bullish flag break out target.
More analysis - at instaforex.com