Instaforex Analysis

[IFX Gertrude]

EUR/JPY technical analysis for September 05, 2013

EUR/JPY still continues its upside movement. This situation has been already confirmed by all the three moving averages, it is still making a "Golden Cross" pattern. As long as the price do not breach and close below the 131.25 level, it will continue the upside movement.

RECOMMENDATION:
BUY STOP (Pending Order) at 131.76.
Take Profit at 131.90.
Stop Loss at 131.66.

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[IFX Gertrude]

USD/JPY intraday technical levels for September 06, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3: 100.39.
Resistance. 2: 100.18.
Resistance. 1: 99.96.
Support. 1: 99.70.
Support. 2: 99.48.
Support. 3: 99.27.

DESCRIPTION:
Please, pay attention to the levels of support 3 (99.27) and resistance 3 (100.39). Normally, 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 this currency pair has found a trend today.

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[IFX Gertrude]

USD/JPY intraday technical levels for September 09, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3: 100.18.
Resistance. 2: 99.98.
Resistance. 1: 99.79.
Support. 1: 99.55.
Support. 2: 99.35.
Support. 3: 99.15.

DESCRIPTION:
Please, pay attention to the levels of support 3 (99.15) and resistance 3 (100.18). Normally, 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 September 11, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3: 100.85.
Resistance. 2: 100.65.
Resistance. 1: 100.46.
Support. 1: 100.21.
Support. 2: 100.01.
Support. 3: 99.81.

DESCRIPTION:
Please, pay attention to the levels of support 3 (99.81) and resistance 3 (100.85). Normally, 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 September 12, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3: 100.09.
Resistance. 2: 99.90.
Resistance. 1: 99.70.
Support. 1: 99.46.
Support. 2: 99.27.
Support. 3: 99.07.

DESCRIPTION:
Please, pay attention to the levels of support 3 (99.07) and resistance 3 (100.09). Normally, 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]

Silver near support levels Of 21.00/50. Looking to initiate longs

Technical outlook and chart setups:
The metal is very constructive for bulls. At the moment, it is at the fibonacci 0.5 retracement of the recent rally from 19.00 to 25.00. A bullish reversal here could be used as initiating, at least, 50% of long positions. The remaining could be picked up at around the 21.00 levels. Intermediary resistance is at the 24.00 levels, followed by 25.00 and higher; while support is at 19.00/20, followed by the 18.75/25 levels respectively. The metal is in the buy zone of the rising trendline; hence a possible reversal consideration is ruled out for the moment.

Trading recommendations:
Go long 50% positions now, and remaining at 21.00/50, stop is at 19.00.

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[IFX Gertrude]

USD/JPY intraday technical levels for September 16, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3: 99.34.
Resistance. 2: 99.15.
Resistance. 1: 98.96.
Support. 1: 98.72.
Support. 2: 98.53.
Support. 3: 98.33.

DESCRIPTION :
Please, pay attention to the levels of support 3 (98.33) and resistance 3 (99.34). Normally, 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 September 17, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 99.69.
Resistance. 2 : 99.50.
Resistance. 1 : 99.30.
Support. 1 : 99.06
Support. 2 : 98.87.
Support. 3 : 98.67.

DESCRIPTION:
Please, pay attention to the levels of support 3 (98.67) and resistance 3 (99.69). Normally, 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]

Silver near 0.618 Fibonacci support.

Technical outlook and chart setups:
The metal has dropped/retraced to the 21.50 levels as expected earlier. This level is also the 0.618 fibonacci support of the recent rally from 19.00 to 25.00, as depicted here. A bullish reversal here would confirm the next leg is up towards at least the 27.00 levels and more. As shown here, the support trendline is passing through the 20.00 area at the moment. Till the time prices remain in the buy zone of the support line, it is recommended to buy on dips. Intermediary resistance is seen at the 25.00 levels, while support is at 19.00, followed by 18.00/25 respectively. Hold on to long positions for now.

Trading recommendations:
Remain long for now, set stop below 19.00

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[IFX Gertrude]

USD/JPY intraday technical levels for September 19, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 98.69.
Resistance. 2 : 98.50.
Resistance. 1 : 98.31.
Support. 1 : 98.06.
Support. 2 : 97.87.
Support. 3 : 97.67.

DESCRIPTION:
Please, pay attention to the levels of support 3 (97.67) and resistance 3 (98.69). Normally, 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 September 20, 2013

TODAY'S TECHNICAL LEVELS:
Resistance 3: 99.99.
Resistance 2: 99.79.
Resistance 1: 99.60.
Support 1: 99.35.
Support 2: 99.16.
Support 3: 98.96.

DESCRIPTION:
Please pay attention to the levels of support 3 (98.96) and resistance 3 (99.99). Normally, 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/CAD intraday technical level for September 23, 2013

The USD/CAD bias is still going up. If it can breach and close below the 1.0278, then it will try to catch the 1.0258; but if it is still following its up bias, this pair can breach and close above the 1.0323; then it will go up to the 1.0338.

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[IFX Gertrude]

USD/JPY intraday technical levels for September 25, 2013

TODAY'S TECHNICAL LEVELS:
Resistance 3: 99.12.
Resistance 2: 98.93.
Resistance 1: 98.73.
Support 1: 98.49.
Support 2: 98.30.
Support 3: 98.10.

DESCRIPTION:
Please pay attention to the levels of support 3 (98.10) and resistance 3 (99.12). Normally, 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 September 26, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 98.90.
Resistance. 2 : 98.71.
Resistance. 1 : 98.52.
Support. 1 : 98.28.
Support. 2 : 98.08.
Support. 3 : 97.89.

DESCRIPTION:
Please, pay attention to the levels of support 3 (97.89) and resistance 3 (98.90). Normally, 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 September 27, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 99.43.
Resistance. 2 : 99.23.
Resistance. 1 : 99.04.
Support. 1 : 98.80.
Support. 2 : 98.61.
Support. 3 : 98.41.

DESCRIPTION:
Please, pay attention to the levels of support 3 (98.41) and resistance 3 (99.43). Normally, 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 September 30, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 98.25.
Resistance. 2 : 98.06.
Resistance. 1 : 97.87
Support. 1 : 97.63.
Support. 2 : 97.44.
Support. 3 : 97.24.

DESCRIPTION:
Please, pay attention to the levels of support 3 (97.24) and resistance 3 (98.25). Normally, 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 October 03, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 97.99.
Resistance. 2 : 97.80.
Resistance. 1 : 97.61.
Support. 1 : 97.38.
Support. 2 : 97.19.
Support. 3 : 96.99.

DESCRIPTION:
Please, pay attention to the levels of support 3 (96.99) and resistance 3 (97.99). Normally, 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 October 04, 2013

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 97.64.
Resistance. 2 : 97.45.
Resistance. 1 : 97.26.
Support. 1 : 97.02.
Support. 2 : 96.83.
Support. 3 : 96.63.

DESCRIPTION:
Please, pay attention to the levels of support 3 (96.63) and resistance 3 (97.64). Normally, 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]

AUD/USD analysis for October 07, 2013

AUD/USD Elliott Wave
Last week, the AUDUSD pair was trading upwards, corrective wave a (coloured blue) of the bigger wave A (coloured red) was developing. During Friday's Asian and European sessions we could observe strong ascending movements from 0.9398 towards the 0.9447 level. Therefore, during the New York session this major currency continued trading upwards and the price reached the 0.9457 level. We can consider this move as the end of the a wave (coloured blue).At the moment, the AUDUSD pair is trading below 0.9403 and we are expecting to see one more push lower, before the price turns higher in the c of (y). In accordance with our wave rules and taking into account that wave Y should retrace 123.6% of wave X, we can define the potential targets with measuring wave X with take profit at 0.9542 (123.6% of wave A). To reduce the risk, we can use resistance point at the 0.9370 level as stop loss.

Support and Resistance
(S3) 0.9323 (S2) 0.9355 (S1) 0.9393 (PP) 0.9425 (R1) 0.9463 (R2) 0.9495 (R3) 0.9533

Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin upward movements. That is why long positions at the level of 0.9410 with stop loss at 0.9370 and take profit at 0.9542 are recommended.

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[IFX Gertrude]

USD/CAD analysis for October 08, 2013

USD/CAD Elliott Wave
Since our last analyses the USDCAD pair has been trading upwards, so we need to look at our alternate count that tells us that wave (y) (coloured green) of the wave (coloured black) is still developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.0288 towards the 1.0332 level. Therefore, during the early New York session this commodity currency did not manage to hold this levels and the price has reached a new sessions low at 1.0296. At the moment, the USDCAD pair is trading around 1.0321 and we are expecting to see more bullish movements in the next few sessions. In accordance with our wave rules and taking into account that wave Y should retrace 100% of wave X, we can define the potential targets with measuring wave X with take profit at 1.0432 (100% of wave X). To reduce the risk, we can use invalidation point at the 1.0288 level as stop loss.

Support and Resistance
(S3) 1.0248 (S2) 1.0270 (S1) 1.0290 (PP) 1.0312 (R1) 1.0332 (R2) 1.0354 (R3) 1.0374

Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movements. That is why long positions at the level of 1.0350 with stop loss at 1.0288 and take profit at 1.0632 are recommended.

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