Instaforex Analysis

[IFX Gertrude]

EUR/USD technical analysis for January 25, 2013

DESCRIPTION:
In the event all the three Moving Averages still have a "Golden Cross" pattern formation, this is currency still in the sideways situation. It was trapped few days ago between the support 1.3275 and the resistance 1.3400. There is no huge significant movement from this currency.

Recommendation:
There is no recommendation for this currency because we do not see any clear trend at EUR/USD.


More analysis - at instaforex.com

- - - Updated - - -

EUR/USD technical analysis for January 25, 2013

DESCRIPTION:
In the event all the three Moving Averages still have a "Golden Cross" pattern formation, this is currency still in the sideways situation. It was trapped few days ago between the support 1.3275 and the resistance 1.3400. There is no huge significant movement from this currency.

Recommendation:
There is no recommendation for this currency because we do not see any clear trend at EUR/USD.


More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/USD technical analysis for January 28, 2013

DESCRIPTION:
Although the moving average is still in the Death Cross formation pattern, the pound is now trapped between the support 1.5750 and resistance 1.5825; but taking into account the last week UK preliminary GDP q/q in the red zone, we predict this currency to continue the downside momentum.

Recommendation:
Sell at 1.5749
Stop loss at 1.5759.
Take profit at 1.5735.

More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/CHF continues drifting lower; 1.4500/1.4450 insight

Technical outlook and chart setups:
Structurally, there is no change as depicted here in the daily chart. Support is at 1.4460/1.4500 and lower, while daily chart resistance is at 1.5, 1.5050 and higher. Bears are in control at the moment and determined to take prices lower towards 1.4500/1.4450 levels. It is recommended to remain short and add on intraday rallies towards 1.4600/1.4650 from here on. It is quite possible to break down 1.4200 levels which is the major swing support, but that probability shall be discussed later.

Trading recommendations:
Remain short, move Stop to breakeven, target 1.4500

More analysis - at instaforex.com

 

[IFX Gertrude]

AUD/USD technical analysis for January 30, 2013

DESCRIPTION:
As Australia's NAB Business Confidence indicator grew significantly, this currency pair surged above 1.0425 and stopped after touching the resistance at 1.0475. For today, only Exponential Moving Average period (14) already closed above the Exponential Moving Average (100), which means that the AUD/USD upside momentum is not strong enough. If the pair breaks the 1.0478 level, then 1.0492 will be the next target.

Recommendation:
Buy at 1.0476.
Take profit at 1.0490.
Stop loss at 1.0466.
Or
Sell at 1.0449.
Take profit at 1.0439.
Stop loss at 1.0459.

More analysis - at instaforex.com

- - - Updated - - -

AUD/USD technical analysis for January 30, 2013

DESCRIPTION:
As Australia's NAB Business Confidence indicator grew significantly, this currency pair surged above 1.0425 and stopped after touching the resistance at 1.0475. For today, only Exponential Moving Average period (14) already closed above the Exponential Moving Average (100), which means that the AUD/USD upside momentum is not strong enough. If the pair breaks the 1.0478 level, then 1.0492 will be the next target.

Recommendation:
Buy at 1.0476.
Take profit at 1.0490.
Stop loss at 1.0466.
Or
Sell at 1.0449.
Take profit at 1.0439.
Stop loss at 1.0459.

More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/CHF extends fall towards 1.4370 (intermediary support); a countertrend rally may materialize

Technical outlook and chart setups:
As depicted in the Daily Chart, the currency pair has rapidly exceeded the measured Fibonacci extension levels. It is shy of an intermediary support at the 1.4360/65 levels, and lower support levels are towards 1.43 and just below 1.42. As seen here, the resistance levels (Fibonacci) begin from 1.4610 and extend to 1.4750/1.4850 on the higher side, within the recent down leg which begun from the 1.5 level. It is absolutely clear that as long as the prices stay below 1.5 mark, the trend is down. For the moment, a countertrend pullback rally may materialize. A conservative trading approach would be to sell on rallies.

Trading recommendations:
1. Conservative: sell on rallies towards 1.46/1.4750
2. Aggressive: buy at current levels, stop at 1.4300, target 1.46 +


More analysis - at instaforex.com

 

[IFX Gertrude]

GbpChf: A pullback rally may materialize towards at least 1.4610/20

Technical outlook and chart setups:
Yesterday was a relatively quiet day in terms of price action. The single currency pair has met with the expected swing level at 1.4460 and is consolidating at the moment. As depicted here, further support is at 1.4300 and just below 1.42 and a push lower still possible before a meaningful pullback recovery materializes. Resistance begins from 1.4610/20 and extends up to 1.4850/60, while 1.5 remains major resistance at the moment. A huge inverse head and shoulder formation maybe under way and we shall discuss this scenario in the coming sessions.

Trading recommendations:
1. Conservative trade strategy would be to remain flat for now.
2. Aggressive trade strategy would be to go long, stop is at 1.4300, and target is at least at 1.4600.

More analysis - at instaforex.com

 

[IFX Gertrude]

GbpChf approaches major support close to 1.4200. Expect a pullback rally

Technical outlook and chart setups:
As depicted here on the Daily chart view, the single currency pair has nearly approached a major support at 1.4200 level on Friday. It is high probability for a pullback rally (3 waves) should materialize any time now towards at least 1.4800 mark. A major head and shoulder reversal might be under formation, if a rally begins now. It is highly recommended to look for long opportunities around price action now for a 500/600 pip rally.

Trading recommendations:
Buy now. Stop is at 1.4150. Move target towards 1.4800.

More analysis - at instaforex.com

- - - Updated - - -

GbpChf approaches major support close to 1.4200. Expect a pullback rally

Technical outlook and chart setups:
As depicted here on the Daily chart view, the single currency pair has nearly approached a major support at 1.4200 level on Friday. It is high probability for a pullback rally (3 waves) should materialize any time now towards at least 1.4800 mark. A major head and shoulder reversal might be under formation, if a rally begins now. It is highly recommended to look for long opportunities around price action now for a 500/600 pip rally.

Trading recommendations:
Buy now. Stop is at 1.4150. Move target towards 1.4800.

More analysis - at instaforex.com

- - - Updated - - -

GbpChf approaches major support close to 1.4200. Expect a pullback rally

Technical outlook and chart setups:
As depicted here on the Daily chart view, the single currency pair has nearly approached a major support at 1.4200 level on Friday. It is high probability for a pullback rally (3 waves) should materialize any time now towards at least 1.4800 mark. A major head and shoulder reversal might be under formation, if a rally begins now. It is highly recommended to look for long opportunities around price action now for a 500/600 pip rally.

Trading recommendations:
Buy now. Stop is at 1.4150. Move target towards 1.4800.

More analysis - at instaforex.com

 

[IFX Gertrude]

Strategy of the day on the GOLD

Gold is currently testing the upper limit of its medium-term bearish channel at 1,681 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.

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

Gold approaches 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 1,681 with the 1st objective at 1,670 and then at 1,667. A breakthrough of 1,684 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy gold as soon as it is broken through its resistance of 1,681 with the 1st objective at 1,692 and then at 1,695. A breakthrough of 1,678 will invalidate this scenario.

More analysis - at instaforex.com

- - - Updated - - -

Strategy of the day on the GOLD

Gold is currently testing the upper limit of its medium-term bearish channel at 1,681 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.

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

Gold approaches 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 1,681 with the 1st objective at 1,670 and then at 1,667. A breakthrough of 1,684 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy gold as soon as it is broken through its resistance of 1,681 with the 1st objective at 1,692 and then at 1,695. A breakthrough of 1,678 will invalidate this scenario.

More analysis - at instaforex.com

 

[IFX Gertrude]

EurJpy rally extends to swing highs at 127.40/50. Flat for now

Technical outlook and chart setups:
As seen here on the 4H chart presented here, the single currency pair has extended rally from 124.00 level above recent swing highs at 127.00 region again. The recommended short positions around 125.90/126.00 region have not worked out as expected. Immediate chart support is now provided by 124.00 followed by 121.00 region and lower. A weekly resistance is at 127.90/128.00 region, which would be the immediate upside target for bulls for the moment. It is recommended to await clear pullback signals before entering trades at the moment.

Trading recommendations:
Flat for now. Preparing to go short again.

More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/USD technical analysis for February 7, 2013

DESCRIPTION:
Today, the pound still have a good and healthy bearish momentum, this is indicated by all the three Moving Averages still giving a "Death Cross" formation pattern. However since the 1.5775 level was breached by this currency three days ago, theoretically, the price was supposed to reach 1.5575 yesterday, but now it is still running at 1.5650. Bearish momentum for the pounds has slightly decreased.

Today the official Bank Rate/MPC Rate Statement will be released. Some fundamentalist forecast the rate will remain unchanged at 0.50%. We hope this news will be a booster for the bearish momentum for this currency today.

Recommendation:
Sell stop (pending order) at 1.5637.
Take profit 1 at 1.5623.
Take profit 2 at 1.5601 (optional).
Stop loss at 1.5659.
Alternative:
Buy stop (pending order) at 1.5683.
Take profit 1 at 1.5701.
Take profit 2 at 1.5730 (optional).
Stop loss at 1.5654.

More analysis - at instaforex.com

 

[IFX Gertrude]

to me
EUR/NZD Elliott Wave analysis for February 8, 2013

Today's support and resistance levels:
S1: 1.6043 R1: 1.6082
S2: 1.5990 R2: 1.6122
S3: 1.5970 R3: 1.6190

Technical overview:
We saw the expected break above the minor resistance line from 1.6359, but it was clearly a failure break, which is of concern to our overall bullish count. That said, a break below 1.5990 is needed to invalidate our count and cause reevaluation to a more bearish count. However, as long as important support at 1.5990 protects the downside, we will be looking for a break above 1.6081 and, more importantly, a break above 1.6147, which will confirm a new rally higher towards 1.6278 and 1.6359, towards the ideal target at 1.6524.

Trading recommendation:
We long EUR from 1.6045 and have stop+revers at 1.5985. If you have not opened a long position on EUR yet, then buy at a break above 1.6081 with the same stop+revers at 1.5985.

More analysis - at instaforex.com

 

[IFX Gertrude]

EUR/JPY Elliott Wave analysis for February 11, 2013


Today's support and resistance levels:
S1: 123.43 R1: 124.44
S2: 122.98 R2: 124.90
S3: 122.20 R3: 125.57

Technical overview:
With the break below 124.01 we got the final confirmation, that wave 3 did indeed end at 127.70 and wave 4 now is in force. Wave 4 corrects wave 3 and as wave 3 clearly was an extended wave, we should at least see a 23.6% retracement of wave 3, that would mean a correction down to 121.24. A more normal correction would be a 38.2% correction of wave 3, which would take us down to 117.24. This levels also marks the bottom of wave 4 of one lessor degree and is a very common retracement target. As wave 2 was a running flat correction we will be looking for a more simple structure in wave 4, something like a simple zig-zag correction. In the short term, we are looking for a break below support at 123.42 for a continuation down to 122.98, where we expect wave a of 4 to end. Only a break above 124.50 will invalidate that call for a move towards the 125.70 - 126.05 area before going down again.

Trading recommendation:
We short EUR from 125.65 and will move our stop lower to 124.55. We will place our stop profit at 123.25.

More analysis - at instaforex.com

 

[IFX Gertrude]

Hold on to GBP/CHF short positions from the 1.4505 level; downside may gain momentum

Technical outlook and chart setups:
As seen in the daily chart, the currency pair seems to have taken resistance at the Fibonacci 0.382, just around the 1.4500 level yesterday. Keeping it simple, it is expected to continue drifting down either from the 1.45 resistance level or from the 1.4700 level (the 0.618 Fibonacci resistance here). In any case, selling higher up rallies is recommended. Fresh lows below the 1.4100 mark should be seen soon enough now. The 1.4700 region would be the best sell entry if prices manage to reach there.

Trading recommendations:
Hold on to short positions taken yesterday. Move down risk to breakeven levels. Target open.

More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/USD technical analysis for February 14, 2013

DESCRIPTION:
The GBP/USD is still in the healthy and strong bearish momentum, which is indicated by all the three Moving Averages being still in the Death Cross formation pattern. This currency pair breached and closed bellow the 1.5575, now it will be going down to 1.5375, although 1.5685 can be reached; they will hold the bearish momentum for this currency.

Recommendation:
Sell stop (pending order) at 1.5519.
Take profit 1 at 1.5505.
Take profit 2 at 1.5482 (optional).
Stop loss at 1.5541.
Or
Buy stop (pending order) at 1.5564.
Take profit 1 at 1.5578.
Take profit 2 at 1.5600 (optional).
Stop loss at 1.5541.

More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/USD technical analysis for February 15, 2013

DESCRIPTION:
This currency pair is still driven by the healthy Bearish momentum and is now heading to 1.5375 as a target. Unless it goes to 1.5685, it will be a sign of weakness for the GBP/USD Bearish movement.

Recommendation:
Sell stop (pending order) at 1.5468.
Take profit 1 at 1.5446.
Take profit 2 at 1.5411 (optional).
Stop loss at 1.5502.
Or
Buy stop (pending order) at 1.5526.
Take profit at 1.5540.
Stop loss at 1.5516.

More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/USD technical analysis for February 19, 2013

DESCRIPTION:
Since yesterday this currency could not reach its target 1.5375, we assume the bearish movement from this currency has a decreased momentum as all the three Moving Averages still form the "Death Cross" pattern which indicates this currency still has a healthy downside movement.

Recommendation:
SELL stop (pending order) at 1.5450.
Take profit 1 at 1.5430.
Take profit 2 at 1.5398 (optional).
Stop loss at 1.5482.
Alternative:
BUY stop (pending order) at 1.5483.
Take profit 1 at 1.5492.
Take profit 2 at 1.5507 (optional).
Stop loss at 1.5468.

More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/CHF: move down risk to 1.4350 on short positions

Technical outlook and chart setups:
As depicted in the 4H chart, the currency pair is drifting South below the 1.42 mark, but it is yet to register fresh lows. As shown, 1.4350 is immediate resistance, followed by 1.4500, while intermediary support is in the 1.4150/70 region. It is recommended to hold on to short positions taken earlier and also reduce risk. A breakdown of 1.4170 would push prices rapidly towards 1.3900 and 1.3800 levels respectively.

Trading recommendations:
Hold on to short positions taken earlier, reduce Risk/Move stop lower to 1.4350, target 1.3900/1.3800.

More analysis - at instaforex.com

- - - Updated - - -

GBP/CHF: move down risk to 1.4350 on short positions

Technical outlook and chart setups:
As depicted in the 4H chart, the currency pair is drifting South below the 1.42 mark, but it is yet to register fresh lows. As shown, 1.4350 is immediate resistance, followed by 1.4500, while intermediary support is in the 1.4150/70 region. It is recommended to hold on to short positions taken earlier and also reduce risk. A breakdown of 1.4170 would push prices rapidly towards 1.3900 and 1.3800 levels respectively.

Trading recommendations:
Hold on to short positions taken earlier, reduce Risk/Move stop lower to 1.4350, target 1.3900/1.3800.

More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/CHF breaks to fresh lows below 1.4100; 1.4350/60 is strong resistance now

Technical outlook and chart setups:
As depicted in the 4H, the currency pair broke down intermediary support at 1.4050/70 yesterday at the backdrop of huge sterling sell-off across the board. As shown here, immediate resistance is the 1.4350/60 levels, followed by 1.4500. Support comes in around the 1.38/1.39 levels. It should be noted that a weekly support at 1.4150 has been broken, and hence a pullback cannot be ruled out. It is always recommended to book partial profits around current levels. Looking lower till 1.4350 remains intact.

Trading recommendations:
Remain short, move risk to breakeven, target 1.4050, 1.39.

More analysis - at instaforex.com

- - - Updated - - -

GBP/CHF breaks to fresh lows below 1.4100; 1.4350/60 is strong resistance now

Technical outlook and chart setups:
As depicted in the 4H, the currency pair broke down intermediary support at 1.4050/70 yesterday at the backdrop of huge sterling sell-off across the board. As shown here, immediate resistance is the 1.4350/60 levels, followed by 1.4500. Support comes in around the 1.38/1.39 levels. It should be noted that a weekly support at 1.4150 has been broken, and hence a pullback cannot be ruled out. It is always recommended to book partial profits around current levels. Looking lower till 1.4350 remains intact.

Trading recommendations:
Remain short, move risk to breakeven, target 1.4050, 1.39.

More analysis - at instaforex.com

- - - Updated - - -

GBP/CHF breaks to fresh lows below 1.4100; 1.4350/60 is strong resistance now

Technical outlook and chart setups:
As depicted in the 4H, the currency pair broke down intermediary support at 1.4050/70 yesterday at the backdrop of huge sterling sell-off across the board. As shown here, immediate resistance is the 1.4350/60 levels, followed by 1.4500. Support comes in around the 1.38/1.39 levels. It should be noted that a weekly support at 1.4150 has been broken, and hence a pullback cannot be ruled out. It is always recommended to book partial profits around current levels. Looking lower till 1.4350 remains intact.

Trading recommendations:
Remain short, move risk to breakeven, target 1.4050, 1.39.

More analysis - at instaforex.com

 

[IFX Gertrude]

GBP/USD Technical Analysis for February 22, 2013

DESCRIPTION:
As we look at the charts, all three Moving Averages are still in the "Death Cross" formation pattern that indicates the bearish momentum still remains, but pay attention to the 1.5275 level, if this currency today can break above that level, there will be a pullback to upside for this pair.

Recommendation:
SELL Stop (Pending Order) @ 1.5232.
Take Profit. 1 @ 1.5219.
Take Profit. 2 @ 1.5198 (Optional).
Stop Loss @ 1.5254.
Alternative:
BUY Stop (Pending Order) @ 1.5279.
Take Profit. 1 @ 1.5301.
Take Profit. 2 @ 1.5336 (Optional).
Stop Loss @ 1.5244.

More analysis - at instaforex.com

 

[IFX Gertrude]

EUR/USD technical analysis for February 27, 2013

DESCRIPTION:
The bearish momentum for this currency is still in a healthy condition. The pair will try to reach the target at 1.3025, as long as 1.3125 is not touched. If the pair touches it, then there will be downside momentum for this currency pair.

Recommendation:
Sell stop (pending order) at 1.3025.
Take profit 1 at 1.2993.
Take profit 2 at 1.2941.
Stop loss at 1.3078.
Alternative:
Buy stop (pending order) at 1.3073.
Take profit 1 at 1.3085.
Take profit 2 at 1.3105.
Stop loss at 1.3053.

More analysis - at instaforex.com