Instaforex Analysis

[IFX Gertrude]

GBP/CHF Breaks Support At 1.4720/25; Hold Short Positions

Technical Outlook and Chart Setups:

As depicted here, the single currency breaks below immediate support at the 1.4720/25 levels. Furthermore, the pair is completely out of the falling wedge formation. Minor pullback rallies can be expected, but they will be well capped below the 1.4830/40 levels. It is recommended to sell intraday rallies towards 1.4830/40 and also hold short positions taken earlier. Fibonacci support levels are at 1.4600 and lower, while resistance starts from the 1.4830/40 levels through the 1.5050 and 1.5150 levels respectively. Looking lower from here on.


Trading Recommendations:

Hold on to short positions taken earlier and sell further intraday rallies. Stop is at 1.5000, target is at 1.4600.



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- - - Updated - - -

GBP/CHF Breaks Support At 1.4720/25; Hold Short Positions

Technical Outlook and Chart Setups:

As depicted here, the single currency breaks below immediate support at the 1.4720/25 levels. Furthermore, the pair is completely out of the falling wedge formation. Minor pullback rallies can be expected, but they will be well capped below the 1.4830/40 levels. It is recommended to sell intraday rallies towards 1.4830/40 and also hold short positions taken earlier. Fibonacci support levels are at 1.4600 and lower, while resistance starts from the 1.4830/40 levels through the 1.5050 and 1.5150 levels respectively. Looking lower from here on.


Trading Recommendations:

Hold on to short positions taken earlier and sell further intraday rallies. Stop is at 1.5000, target is at 1.4600.



More analysis - at instaforex.com

- - - Updated - - -

GBP/CHF Breaks Support At 1.4720/25; Hold Short Positions

Technical Outlook and Chart Setups:

As depicted here, the single currency breaks below immediate support at the 1.4720/25 levels. Furthermore, the pair is completely out of the falling wedge formation. Minor pullback rallies can be expected, but they will be well capped below the 1.4830/40 levels. It is recommended to sell intraday rallies towards 1.4830/40 and also hold short positions taken earlier. Fibonacci support levels are at 1.4600 and lower, while resistance starts from the 1.4830/40 levels through the 1.5050 and 1.5150 levels respectively. Looking lower from here on.


Trading Recommendations:

Hold on to short positions taken earlier and sell further intraday rallies. Stop is at 1.5000, target is at 1.4600.



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[IFX Gertrude]

EUR/USD Long-Term Technical Analysis for December 27, 2012

Overview:

The EUR/USD pair has broken the support level and turned towards the resistance level of 1.3299 last week. Therefore, the pair has already formed a strong resistance at 1.3300. Moreover, it failed to close above 1.3299 and started showing a bearish reaction at this level. It is necessary to mention that these levels coincide with strong levels for bears on the H1 chart; the pair has also formed strong resistance at the level of 1.3300. The pair will move downwards, it is convincing; the structure of the downside movement does not look corrective and is indicating a bearish opportunity below 1.3299. This can be a good sign for Sell deals below 1.33 with the first target at 1.3270 initiating an uptrend in order to continue the bullish mood towards the point of 1.3133 and further to 1.3072. If the trend breaks the weekly resistance 1 (1.3282), then the pair will go downwards to these targets. However, it should also be noted that the price is still between 1.3277 and 1.3177, as the last strong support level (1.3050) is still able to start an uptrend at this level. Thus, the market indicates a bullish opportunity at the level of 1.3050 on the H1 chart with the first target at 1.3110 and continues towards 1.3212 (weekly Pivot Point).


Note: Resistance at 1.3300 & Support at 1.3050 (Long Term).


Observation(s):

If the trend is ascending, then the strength of the currency will be defined as follows: EUR is an uptrend, and USD is a downtrend.

Most of the traders use the Fibonacci retracement to determine accurately the psychological support and resistance levels.
Stop loss should NEVER exceed your maximum exposure amounts.
The market is highly volatile as usual when the last day had a huge volatility.


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[IFX Gertrude]

EUR/JPY Intraday Technical Analysis

The spot rate is currently testing the upper limit of its long-term bearish channel at 114.60 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.

Technical indicators provide buy signals but approaches overbuy zone and until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility.

The spot rate is currently testing the upper limit of its channel, so we recommend 2 scenarios: the first one is the hypothesis of a decline, then we recommend a sell on the level of 114.60 with the 1st objective at 114.00 and then at 113.80. A break through 114.80 will invalidate this scenario. The second scenario is a break of its resistance, then we recommend a “buy stop”, which means to buy the spot rate as soon as it has broken through its resistance of 114.60 with the 1st objective at 115.20 and then at 115.40. A break through 114.40 will invalidate this scenario.


More analysis - at instaforex.com

- - - Updated - - -

EUR/JPY Intraday Technical Analysis

The spot rate is currently testing the upper limit of its long-term bearish channel at 114.60 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.

Technical indicators provide buy signals but approaches overbuy zone and until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility.

The spot rate is currently testing the upper limit of its channel, so we recommend 2 scenarios: the first one is the hypothesis of a decline, then we recommend a sell on the level of 114.60 with the 1st objective at 114.00 and then at 113.80. A break through 114.80 will invalidate this scenario. The second scenario is a break of its resistance, then we recommend a “buy stop”, which means to buy the spot rate as soon as it has broken through its resistance of 114.60 with the 1st objective at 115.20 and then at 115.40. A break through 114.40 will invalidate this scenario.


More analysis - at instaforex.com

- - - Updated - - -

EUR/JPY Intraday Technical Analysis

The spot rate is currently testing the upper limit of its long-term bearish channel at 114.60 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.

Technical indicators provide buy signals but approaches overbuy zone and until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility.

The spot rate is currently testing the upper limit of its channel, so we recommend 2 scenarios: the first one is the hypothesis of a decline, then we recommend a sell on the level of 114.60 with the 1st objective at 114.00 and then at 113.80. A break through 114.80 will invalidate this scenario. The second scenario is a break of its resistance, then we recommend a “buy stop”, which means to buy the spot rate as soon as it has broken through its resistance of 114.60 with the 1st objective at 115.20 and then at 115.40. A break through 114.40 will invalidate this scenario.


More analysis - at instaforex.com

 

[IFX Gertrude]

USD/CAD Intraday Technical Analysis and Trading Recommendations for January 1, 2013

In the previous articles we suggested that the potential downside movement remained valid as long as the pair was trading below 1.0040 and below 1.0000 area, the psychological resistance.

The daily chart showed a narrow consolidation range 0.9905 - 0.9955 located few pips above 0.9890 (50% Fibonacci Level), which was broken down. It opened the way towards 0.9825 without further bearish pressure, which indicated a bullish retracement had taken place which allowed the pair to come back again within the congestion zone 0.9905 - 0.9955.

Last week, the USD/CAD pair expressed quite strong bullish reaction breaking through the upper limit of the depicted bearish channel on the 4H chart with newly established ascending bottoms at 0.9870 and 0.9910. The pair gave daily closure above both 50% and 61.8% Fibonacci levels.

Price Zone 0.9890 is rendered as a confluence of support for the USD/CAD pair. Hence, a valid BUY entry can be taken with SL located just below 0.9810, but we need to see that 0.9905 is broken down first.

A breakthrough of 0.9955 probably opens the way towards 0.9990 then 1.0020.


Resistance: 0.9955, 1.0040, and 1.0080.
Support: 0.9905, 0.9870, 0.9830, 0.9805, and 0.9760.


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[IFX Gertrude]

to me
USD/JPY Intraday Technical Levels for January 04, 2013

TODAY'S TECHNICAL LEVELS:

Resistance 3: 88.11.

Resistance 2: 87.94.

Resistance 1: 87.77.

Support 1: 87.56.

Support 2: 87.38.

Support 3: 87.21.



DESCRIPTION:

Please pay attention to the levels of support 3 (87.21) and resistance 3 (88.11). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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[IFX Gertrude]

EUR/USD Intraday Technical Analysis

The spot rate is currently testing the upper limit of its medium-term bearish channel at 1.3070 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.


Technical indicators provide sell signals and, until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

The spot rate is currently testing the upper limit of its channel, so we recommend 2 scenarios: the first one is the hypothesis of a decline, then we recommend a sell at the level of 1.3070 with the 1st objective at 1.3010 and then at 1.2990. A break through 1.3090 will invalidate this scenario. The second scenario is a break of its resistance, then we recommend a buy stop, which means to buy the spot rate as soon as it breaks through its resistance of 1.3070 with the 1st objective at 1.3130 and then at 1.3150. A break through 1.3050 will invalidate this scenario.


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[IFX Gertrude]

USD/JPY Intraday Technical Levels for January 08, 2013

TODAY'S TECHNICAL LEVELS:

Resistance 3: 88.05.

Resistance 2: 87.87.

Resistance 1: 87.70.

Support 1: 87.49.

Support 2: 87.31.

Support 3: 87.14.


DESCRIPTION:

Please pay attention to the levels of support 3 (87.14) and resistance 3 (88.05). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.


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[IFX Gertrude]

USD/JPY Intraday Technical Levels for January 09, 2013

TODAY'S TECHNICAL LEVELS:

Resistance 3: 87.91.

Resistance 2: 87.74.

Resistance 1: 87.56.

Support 1: 87.35.

Support 2: 87.17.

Support 3: 87.00.


DESCRIPTION:

Please pay attention to the levels of support 3 (87.00) and resistance 3 (87.91). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.


More analysis - at instaforex.com

 

[IFX Gertrude]

USD/JPY intraday technical levels for January 10, 2013

TODAY'S TECHNICAL LEVELS:

Resistance 3: 87.91.
Resistance 2: 87.74.
Resistance 1: 87.56.
Support 1: 87.35.
Support 2: 87.17.
Support 3: 87.00.


DESCRIPTION:

Please pay attention to the levels of support 3 (87.00) and resistance 3 (87.91). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

More analysis - at instaforex.com

 

[IFX Gertrude]

EUR/USD intraday technical levels for January 11, 2013

TODAY'S TECHNICAL LEVELS:

Breakout Buy Level: 1.3333.
Strong Resistance: 1.3325.
Original Resistance: 1.3312.
Inner Sell Area: 1.3299.
Target Inner Area: 1.3268.
Inner Buy Area: 1.3236.
Original Support: 1.3224.
Strong Support: 1.3211.
Breakout Sell Level: 1.3203.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3224 and 1.3312 and is accompanied by strong support at 1.3211 and by strong resistance at 1.3325.

If EUR/USD breaks out and closes below the 1.3203 level today, then this will indicate considerable bearish strength; while if EUR/USD manages to break out and close above the 1.3333 level, then this will denote high bullish strength. Alternatively for advance traders, you can trade in a way to open a Buy position at the level of 1.3236 and at 1.3299 - a Sell position. Both targets should be placed at the level of 1.3268.

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[IFX Gertrude]

EUR/USD Intraday Technical Levels for January 14, 2013

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.3436.

Strong Resistance: 1.3428.

Original Resistance: 1.3416.

Inner Sell Area: 1.3403.

Target Inner Area: 1.3371.

Inner Buy Area: 1.3338.

Original Support: 1.3326.

Strong Support: 1.3313.

Breakout SELL Level: 1.3305.



DESCRIPTION:

Today EUR/USD has support and resistance at 1.3326 and 1.3416. The rate is accompanied by strong support at 1.3313 and by 1.3428 as strong resistance.

If EUR/USD breaks out and closes below 1.3305 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3436 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3338 and at 1.3403, a SELL position. In this case both targets should be located at the level of 1.3371.

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[jenniferbarnett77]

hi guys

i have been using several fx signals firms and the ones that work well are fxpremiere.com and zulu...

 

[IFX Gertrude]

EUR/JPY correction is due; 120.00 seen as resistance for now

Technical outlook and chart setups:

As depicted here, the single currency pair produced an Engulfing Bearish ahead of the 120.00/10 region. At the moment, prices seem to be retracing the fall and should face resistance around the 119.90 region. Looking into the risk/reward ratio, it is recommended to initiate short positions at current levels, 119.90/92. The single currency pair is expected to correct in 3 waves towards the 118.20/30 levels at least. A higher Fibonacci resistance is at 121.00, while support is at 118.80 and then 117.50/60 respectively. Looking lower for now.

Trading recommendations:

Short now (119.90/92), stop is at 120.45. Target is at 118.20.


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[IFX Gertrude]

GBP/CHF hits trendline resistance and bounces back; selling on rallies favoured

Technical outlook and chart setups:

A 4H chart view has been depicted here, and, as seen, prices hit the line of resistance around 1.4975/85 region and bounced back producing an evening star. It looks like a lower swing high is in place now around the 1.4975/85 levels and that the next big move should be lower. Higher up resistances are at 1.5050/60 and 1.5160, while support is straight down 1.4670 and 1.46 respectively. It is hence recommended to initiate fresh Sell positions now or on intraday rallies. 1.4925/30 is immediate resistance. Looking lower from these levels.


Trading recommendations:

Sell now (1.4895), add further on intraday rallies. Stop is at 1.5030, target is open.


More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/CHF hits trendline resistance and bounces back; selling on rallies favoured

Technical outlook and chart setups:

A 4H chart view has been depicted here, and, as seen, prices hit the line of resistance around 1.4975/85 region and bounced back producing an evening star. It looks like a lower swing high is in place now around the 1.4975/85 levels and that the next big move should be lower. Higher up resistances are at 1.5050/60 and 1.5160, while support is straight down 1.4670 and 1.46 respectively. It is hence recommended to initiate fresh Sell positions now or on intraday rallies. 1.4925/30 is immediate resistance. Looking lower from these levels.


Trading recommendations:

Sell now (1.4895), add further on intraday rallies. Stop is at 1.5030, target is open.


More analysis - at instaforex.com

 

[IFX Gertrude]

EUR/JPY intraday technical analysis

The spot rate is currently testing the upper limit of its medium-term bullish channel at 120.80 suggesting a decline. However, a break of these levels will initiate a more violent bullish channel.

Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in the short term.

The spot rate is currently testing the upper limit of its channel, we suggest 2 scenarios. The first one is the hypothesis of a decline where we recommend a sell on the level of 120.80 with the 1st objective at 120.20 and then at 120.00. A breakthrough of 121.00 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 120.80 with the 1st objective at 121.40 and then at 121.60. A breakthrough of 120.60 will invalidate this scenario.


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[IFX Gertrude]

EUR/JPY intraday technical analysis

The spot rate approaches the intermediate support of its medium-term bearish channel at 118.50 suggesting a rebound. However, a break of these levels will free a large potential and reach the lower limit of its channel at 117.10.

Technical indicators do not provide clear signals, but until the support is not broken the assumption of a rebound is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

The spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios. The first one is the hypothesis of a rebound where we recommend a buy on the level of 118.50 with the 1st objective at 119.10 and then at 119.30. A breakthrough of 118.30 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means to sell the spot rate as soon as it is broken through its support of 118.50 with the 1st objective at 117.90 and then at 117.70. A breakthrough of 118.70 will invalidate this scenario.

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[IFX Gertrude]

EUR/JPY Elliott Wave analysis for January 22, 2013

Today's support and resistance levels:

S1: 119.63 R1: 120.24
S2: 119.22 R2: 120.71
S3: 118.81 R3: 121.28

Technical overview:

The wave IV correction from 120.71 should be over, and we are now looking for a rally past minor resistance at 120.24 to confirm that assumption for the last rally higher towards 120.71 and the ideal target near 121.28. That said, we should be aware, that the hole impulsive rally from 100.32 is coming to an end and a much bigger correction is looming. The coming wave 4 correction should at least give us a correction down to 113.54, which marks the bottom of the wave IV of a lessor degree. This is a very common target, and it will at the same time be very close to the 38.2% Fibonacci target. However, for now we should keep focus towards the upside for one last rally higher.

Trading recommendation:

We are long EUR from 119.41 with a stop at 118.15. Upon a break above 120.24 we will lift our stop higher to 118.75. We will take profit and reverse our long position to a short EUR position at 121.00.

More analysis - at instaforex.com

 

[IFX Gertrude]

USD/CAD intraday technical analysis and trading recommendations for January 22, 2013

The potential downside movement remains valid as long as the pair is trading below 1.0040 and below 1.0000 area, the psychological resistance.

The chart shows that a narrow consolidation range 0.9910 - 0.9970 located few pips above 0.9890 (50% Fibonacci level), which was broken through few weeks ago with bearish momentum towards 61.8% Fibonacci is around 0.9850 without further bearish pressure. Last week, bullish retracement took place near the area of 0.9910 - 0.9950 which capped the previous bullish attempt.

Although a higher weekly close was recorded last week, the USD/CAD pair will have to break above its declining DAILY trendline to enhance its bullish scenario which is apparently failing untill now.

An eventual return to levels around 0.9820 is likely to take place. However, the USD/CAD pair has to break and fixate above the 0.9950 level to invalidate its broader bearish scenario. If it happens, it will enable a run towards the 1.0055 level, then probably to 1.0080.

Resistance: 0.9950,1.0040, and 1.0080.

Support: 0.9910, 0.9880, 0.9855, and 0.9805.

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[IFX Gertrude]

GBP/CHF may retrace; covering short positions is favoured

Technical outlook and chart setup:
As depicted in the 4H chart view here, the price action since 1.4670 can be defined as consolidation. The single currency pair has been confined between 1.47 and 1.4950 price band since then and needs a clear breakout of either of the levels to trade with conviction. Higher up resistance levels are placed at 1.5050 and 1.5150, while support is at 1.46 and 1.45 respectively. As seen here, prices did manage to breach the 1.47 mark for a meager 20/25 pips, but stayed above the counter trend line of support. Keeping these facts in mind, it is recommended to cover the short positions taken earlier.

Trading recommendations:
1. Conservative: Cover short positions if taken earlier. Flat for now.
2. Aggressive: Go long again, stop at 1.4650, target open.

More analysis - at instaforex.com