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Offline Instaforexbuk

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InstaForex - instaforex.com
« on: September 05, 2016, 01:32:31 PM »
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Re: InstaForex - instaforex.com
« Reply #1 on: September 05, 2016, 02:02:46 PM »
Technical analysis of GBP/USD for September 05, 2016




Overview:

 Last week, The GBP/USD pair broke resistance which turned to strong support at the level of 1.3241. The level of 1.3241 coincides with 61.8% of Fibonacci, which is expected to act as major support today. Since the trend is above the 61.8% Fibonacci level, the market is still in an uptrend. From this point, the GBP/USD pair is continuing in a bullish trend from the new support of 1.3241. Currently, the price is in a bullish channel. According to the previous events, we expect the GBP/USD pair to move between 1.3141 and 1.3536 (1.618% Fibonacci). On the H1 chart, resistance is seen at the levels of 1.3435 and 1.3536. Also, it should be noticed that, the level of 1.3357 represents the daily pivot point. Therefore, the price of 1.3250 will be formed at the level of 1.3250 providing a clear signal to buy with the targets seen at 1.3445. If the trend breaks the support at 1.3445 (first resistance) the pair will move upwards continuing the development of the bullish trend to the level 1.3536 in order to test the daily resistance 2. However, stop loss is to be placed below the level of 1.3210.

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Re: InstaForex - instaforex.com
« Reply #2 on: September 06, 2016, 12:13:40 PM »
Technical analysis of EUR/USD for Sept 06, 2016



When the European market opens, some economic data will be released such as Revised GDP q/q, Retail PMI, and German Factory Orders m/m. A series of reports are expected from the United States such as Labor Market Conditions Index m/m, IBD/TIPP Economic Optimism, and ISM Non-Manufacturing PMI. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.1202.

Strong Resistance:1.1196.

Original Resistance: 1.1185.

Inner Sell Area: 1.1174.

Target Inner Area: 1.1148.

Inner Buy Area: 1.1122.

Original Support: 1.1111.

Strong Support: 1.1100.

Breakout SELL Level: 1.1094.

 Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Re: InstaForex - instaforex.com
« Reply #3 on: September 07, 2016, 12:39:22 PM »
Technical analysis of USD/CAD for September 7, 2016

General overview for 07/09/2016:






The full five waves in sub-wave a are now completed, so the next wave progression should develop to the upside in the form of wave b. The projected target is recently violated the golden trend line zone, just above the intraday resistnace at the level of 1.2886. The clearly visible bullish divergence between the price and momentum oscillator supports the view.

Support/Resistance:

 1.3191 - WR2

1.3147 - Technical Resistance

1.3069 - WR1

1.3025 - Weekly Pivot

1.2903 - WS1

1.2886 - Intraday Resistance

1.2859 - WS2

1.2831 - Intraday Support

Trading recommendations:

Daytraders should consider opening buy orders from current price levels with SL just below the intraday support at the level of 1.2831 and TP at the level of 1.2900.

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Re: InstaForex - instaforex.com
« Reply #4 on: September 08, 2016, 01:03:21 PM »
Technical analysis of USD/CHF for September 08, 2016



Overview:

The USD/CHF pair fell sharply from the level of 0.9773 towards 0.9694. Now, the price is set around the area of 0.9704 - 0.9662. The resistance is seen at the level of 0.9738 and 0.9773. Moreover, the price area of 0.9738 - 0.9773 remains a significant resistance zone. Therefore, there is a possibility that the USD/CHF 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 0.9704 and 0.9662. If the USD/CHF pair fails to break through the resistance level of 0.9662, the market will decline further to 0.9627 as 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 0.9593 so as to test the daily support 3. On the contrary, if a breakout takes place at the resistance level of 0.9773, then this scenario may become invalidated.

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Re: InstaForex - instaforex.com
« Reply #5 on: September 09, 2016, 11:21:52 AM »
Technical analysis of EUR/JPY for September 9, 2016

General overview for 09/09/2016:

Bulls managed to retrace 61% of the previous swing down, but this rally upward is not very impulsive. This means it can be a part of a more complex wave development in wave (2) that will evolve into a more time-consuming correction. If there is no visible impulsive wave development to the upside, then the alternative count is still indicating a possible (a) (b) (c) horizontal structure in progress. Nevertheless, so far the impulsive labeling has been fitting better to the market situation.

Support/Resistance:

 116.32 - Swing High

115.58 - Weekly Pivot

115.44 - Intraday Resistance

114.80 - WS1

113.86 - Intraday Support

 113.09 - WS2




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Re: InstaForex - instaforex.com
« Reply #6 on: September 14, 2016, 01:01:58 PM »
Technical analysis of Gold for September 14, 2016

Gold price made a new low yesterday at $1,314 and remains inside the trading range of $1,300 - $1,360. Price is at the lower range boundary and long trades have a better risk reward in case prices bounce higher as it remains my favorite scenario as long as we are above the critical support of $1,300.



Blue lines - trading range

Gold price is again back below the Ichimoku cloud in the 4 hour chart and this is not a good sign for bulls. However, price remains inside the trading range outlined by the blue parallel trend lines. Trend remains neutral. Price is closer to important support than important resistance. Oscillators are diverging so the chances of a bounce are increased.



Black line - trend line support

Green line -long-term resistance

The weekly chart remains in a sideways move and above the black trend line support. Price is correcting the upward move from $1,200 and price is stalling above the 38% Fibonacci retracement. That is why $1,300 is critical support. A break below will open the way for at least a move towards $1,266-$1,234. A break below the black trend line will also increase the chances of a move towards the weekly Ichimoku cloud and the $1,200-$1,180 area.

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Re: InstaForex - instaforex.com
« Reply #7 on: September 15, 2016, 12:12:58 PM »
Technical analysis of USD/CAD for September 15, 2016

General overview for 15/09/2016:

The current wave progression to the upside has been labeled as a triple complex corrective structure WXYXXZ. If the count is correct, then the market should impulsively fall towards the next support at the level of 1.3030 during the next few days. The growing bearish divergence between the price and momentum oscillator supports the view.

Support/Resistance:

1.3253 - Intraday Resistance

1.3223 - WR2

1.3155 - WR1

1.3124 - Intraday Support

1.3077 - 78%Fibo

1.3031 - Intraday Support

1.2994 - Weekly Pivot

1.2935 - WS1

Trading recommendations: Day traders are recommended to refrain from trading for now and wait for a better trading setup to occur shortly.



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Re: InstaForex - instaforex.com
« Reply #8 on: September 16, 2016, 11:14:02 AM »
Technical analysis of USD/JPY for Sept 16, 2016



In Asia, today Japan will not release any economic data. The US will publish some economic data such as TIC Long-Term Purchases, Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, Core CPI m/m, and CPI m/m. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Resistance. 3: 102.52.

Resistance. 2: 102.32.

 Resistance. 1: 102.12.

Support. 1: 102.87.

Support. 2: 101.67.

Support. 3: 101.47.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Re: InstaForex - instaforex.com
« Reply #9 on: September 19, 2016, 11:51:58 AM »
Daily analysis of GBP/USD for September 19, 2016

USDX had a strong rally last Friday and now we're seeing a consolidation above the 200 SMA on H1 chart. Currently, the index is facing the resistance zone of 96.14, which is the last hurdle before to reach the 96.50 level on a short-term basis. We should note that the USDX already did a rebound above the dynamic support offered by the 200-hour moving average and gave it a fresh momentum to the upside.



H1 chart's resistance levels: 96.14 / 96.51

H1 chart's support levels: 95.79 / 95.49

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 96.14, take profit is at 96.51 and stop loss is at 95.76.

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Re: InstaForex - instaforex.com
« Reply #10 on: September 20, 2016, 11:40:23 AM »
Technical analysis of USDX for September 20, 2016

The Dollar index is pulling back as traders prefer to take profits on Dollar long positions before the BOJ, the FOMC and the ECB this week. The economic calendar is full of crucial events this week, so volatility is expected to rise.



Blue line -critical support trend line

Green line - support trend line for the short-term

Black line - resistance (broken)

The Dollar index is pulling back. The target for this pullback to stop is the black trend line that was broken at 95.50. If the Dollar index breaks below the black trend line again, we should expect it to find support at the Ichimoku cloud at 95.30-95.20 area. Resistance is found at 95.93 and next at 96.10.



Green line - critical support trend line

The weekly candle is battling around the weekly tenkan-sen (red line indicator). Price is below the weekly cloud. This increases the chances of a downward break. The last line of defense for Dollar bulls is the green trend line support. Each time the index reached that area, prices bounced strongly upwards. However the index has not managed to break above the weekly cloud resistance yet. Each time the resistance was reached we witnessed a rejection. These are not good signs for Dollar bulls. Keep in mind the following two price levels: 94.70 and 97.50.

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Re: InstaForex - instaforex.com
« Reply #11 on: September 21, 2016, 12:18:00 PM »
Technical analysis of AUD/CAD for September 21, 2016

AUDCAD has been steadily rising after finding the bottom near 0.9800. Pair broke above the ascending channel, corrected down and today rejected the 50 Moving Average suggesting a continuation of an uptrend.

Consider buying AUDCAD on small corrective waves down towards 50% Fibs (0.9975), targeting either 23.6% (1.0060) or 0% (1.0140) Fibs applied to the channel breakout point. The stop loss should be just below the 61.8% Fibs (0.9935)

Support: 0.9935

Resistance: 1.0015, 1.0060, 1.0140

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Re: InstaForex - instaforex.com
« Reply #12 on: September 22, 2016, 12:05:07 PM »
Silver Technical Analysis for September 22, 2016.



Technical outlook and chart setups:

Silver has rallied swiftly through $19.90 level yesterday as expected and discussed. The metal is seen to be trading at $19.78 level after printing highs at $19.87 level early hours today. Please note that the metal is stalling at fibonacci 0.786 resistance of the drop between $20.10 and $18.65 respectively. The wave structure indicates that Silver might be turning lower from here either to retrace or to push towards fresh lows. Please note that $19.50 level remain crucial for bulls to stay in control going ahead. A break lower would confirm that a meaningful top is in place already and the metal is heading lower. It is hence recommended to book profits on long positions taken earlier and aggressive traders might want to take short positions, with risk at $20.30 level. Immediate resistance is seen at $20.10 level, while support is at $19.50 level respectively.

Trading recommendations:

Book profits on long positions taken earlier. Aggressive trade setup is to turn short, stop at $20.35 level, a target is open. Good luck!

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Re: InstaForex - instaforex.com
« Reply #13 on: September 23, 2016, 11:13:31 AM »
Technical analysis of Gold for September 23, 2016

Gold price could have finished the upside move from $1,308 and could start a correction towards $1,320. Price remains still inside the long-term sideways trading range of $1,300-$1,360 and as long as we are inside this range there will be no clear signal.



Gold price has broken above the 4 hour cloud resistance and could be back testing it now. At the upper cloud boundary we also find the 38% Fibonacci retracement of the rise from $1,308. This short-term support level could be seen today. Bulls need to break out of the this range and only a break above $1,360 will confirm our bullish scenario for new highs.



Red lines - trading range

Black line - medium-term support

Gold has reached yesterday the upper cloud boundary and got rejected. Price is above both the tenkan- and kijun-sen indicators implying that bulls might still be in control. However for a confirmation of this strength we will need to see a daily close above the cloud. A break out of the trading range will be an important long-term bullish signal. I remain long-term and short-term bullish. Only a break below $1,300 will change my short-term view.

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Re: InstaForex - instaforex.com
« Reply #14 on: September 26, 2016, 11:25:06 AM »
EURUSD Technical Analysis for September 26, 2016.



Technical outlook and chart setups:

The EURUSD pair seems to be testing its recent swing highs at 1.1230/40 levels before giving in to bears. The pair is seen to be trading at 1.1233/34 levels for now, just within the range of trend line resistance as depicted here. The wave structure still indicates that a bearish resumption here is a strong probability that has potential to push lower towards fresh swing lows. The pair had reversed lower from fibonacci 0.786 retracement level of earlier drop right at the trend line resistance as depicted here. Ideally, prices should remain below 1.1280 levels to keep the bearish structure intact. It is hence recommended to remain short, with risk at 1.1280 levels. Immediate resistance is seen at 1.1283 levels, while support is seen at 1.1120 levels respectively.

Trading recommendations:

Remain short, stop at 1.1280, target is open.

Good luck!

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Re: InstaForex - instaforex.com
« Reply #15 on: September 27, 2016, 11:46:57 AM »
Intraday technical levels and trading recommendations for GBP/USD for September 27, 2016





Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market.

However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur.

The prominent demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection and a bullish engulfing weekly candlestick on February 26.

 Bullish fixation above 1.4670 allowed further bullish advancement initially towards 1.4950 (weekly supply) where a significant bearish rejection was expressed.

The price zone between 1.3845 and 1.3550 (historical bottoms in January 2009) was considered a significant demand zone to be watched for bullish recovery.

However, by the end of June, a significant bearish breakdown below 1.3550 was expressed as seen on the depicted charts (Fundamental Reasons).

 Bearish persistence below the demand level at 1.3550 enhances the bearish scenario towards 1.2700 (nearest bearish projection target) where price action should be watched for a short-term BUY entry.

On the other hand, the price zone of 1.3845-1.4040 constitutes the recent supply zone to be watched for new SELL entries if the any bullish pullback extends above 1.3550 (significant supply level to be watched for sell entries as well).

Otherwise, the GBP/USD pair remains trapped within the depicted consolidation range between 1.2700 and 1.3550.

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Re: InstaForex - instaforex.com
« Reply #16 on: September 28, 2016, 11:03:24 AM »
Silver Technical Analysis for September 28, 2016.



Technical outlook and chart setups:

Silver has further dropped towards fresh lows at $19.00 levels before pulling back slight higher. The metal is seen to be trading at $19.07 levels at this moment and it should be looking to produce a counter trend rally any time now. Please note that the trend line support will act as resistance now for any counter trend rallies that materialize. The wave structure still indicates that the rally from $18.65 levels unfolded into 3 waves which are corrective. Furthermore, the metal has dropped lower unfolding into 5 waves now (fresh lows at $19.00 levels). Please also note that Silver has reversed lower from the fibonacci 0.786 retracement of its earlier swing as discussed earlier. It is recommended to book partial profits on short taken earlier and wait for further opportunities to go short. Immediate resistance is seen at $20.10 levels, while support is at $18.65 levels respectively.

Trading recommendations:

Please book partial profits on shorts taken earlier. Stop at 20.50, target is open.

Good luck!

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Re: InstaForex - instaforex.com
« Reply #17 on: September 29, 2016, 03:02:46 PM »
EURUSD Technical Analysis for September 29, 2016.



Technical outlook and chart setups:

The EURUSD had dropped lower towards 1.1180 levels yesterday as expected and discussed, before pulling back higher. The pair seems to be trading at 1.1229 levels at this moment of writing, and might push towards 1.1242 levels before reversing lower again. Please note that it is facing resistance at current levels at the back side of the earlier trend line support. The wave structure now reveals that the pair is into its counter trend rally and also nearing its completion at current or 1.1242 levels, and it should resume lower any time now. Ideally, prices should remain below 1.1280/90 levels to keep the bearish structure intact. It is hence recommended to remain short, with risk at 1.1290 levels. Immediate resistance is seen at 1.1283 levels, while support is seen at 1.1120 levels respectively.

Trading recommendations:

 Remain short, stop at 1.1290, target is open.
Good luck!

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Re: InstaForex - instaforex.com
« Reply #18 on: September 30, 2016, 02:26:29 PM »
Daily analysis of GBP/USD for September 30, 2016

GBP/USD had a bearish session during Thursday, as the market moved into a downside bias across the board and the Sterling was one of the most affected. That wave allowed the pair to test zone near to 1.2948 level, where is located a key support area. If manages to break it, then we can expect another decline towards the 1.2901 level.



H1 chart's resistance levels: 1.3037 / 1.3116

 H1 chart's support levels: 1.2948 / 1.2901

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2948, take profit is at 1.2901 and stop loss is at 1.2998.

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Re: InstaForex - instaforex.com
« Reply #19 on: October 04, 2016, 10:49:03 AM »
Technical analysis of GBP/JPY for October 04, 2016




Show full picture GBP/JPY is expected to continue its upside movement. The pair broke above the upper boundary of the Bollinger Band with strong momentum. The relative strength index is bullish above its neutrality level at 50 and is heading upward. A support base has been formed around 130.30, which should limit the downside potential. Additionally, the 20-period moving average is turning up. As long as the key level at 130.30 is not broken, look for a further upside toward 131.95 and even 132.45 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 131.95 and the second one at 132.45. In the alternative scenario, short positions are recommended with the first target at 130.05 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 129.65. The pivot point lies at 130.30.


Resistance levels: 131.95, 132.45, 132.80

Support levels: 130.05, 129.65, 129.10

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Re: InstaForex - instaforex.com
« Reply #20 on: October 05, 2016, 11:06:02 AM »
Technical analysis of USD/CHF for October 05, 2016



USD/CHF is expected to trade with a bullish bias above 0.9750. Despite the recent consolidation, the pair is still in an uptrend. Meanwhile, a support base at 0.9750 has been formed, and the downside room should be limited by this level. Meanwhile, the 50-period moving average is heading upward, and maintains the bullish bias. Additionally, the relative strength index lacks downward momentum. U.S. government bonds weakened again with the benchmark 10-year Treasury yield advancing to 1.683% from 1.624% Monday.

The firmer U.S. dollar caused gold to plunge 3.3% to $1,267 an ounce, the biggest slide since 2013. The yellow metal was last seen at levels below $1,300 on June 24. It is now below its 200-day moving average, the first time since early February. Silver sank 5.1% to $17.78 an ounce.

 Therefore, as long as 0.9750 holds on the downside, look for a new rise to 0.9830 at first. A break above this level would open the path to further advance toward 0.9900 as possible.

Resistance levels: 0.9830, 0.9900, 0.9945

Support levels: 0.9715, 0.9690, 0.9645

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Re: InstaForex - instaforex.com
« Reply #21 on: October 06, 2016, 09:49:12 AM »
Technical analysis of EUR/USD for Oct 06, 2016



When the European market opens, some economic data will be released such as ECB Monetary Policy Meeting Accounts, French 10-y Bond Auction, Retail PMI, German Factory Orders m/m. The US will also reveal some economic news such as Natural Gas Storage, Unemployment Claims, Challenger Job Cuts y/y. Therefore, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1260.

 Strong Resistance:1.1254.

Original Resistance: 1.1243.

Inner Sell Area: 1.1232.

Target Inner Area: 1.1206.

Inner Buy Area: 1.1180.

Original Support: 1.1169.

Strong Support: 1.1158.

Breakout SELL Level: 1.1152.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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« Reply #22 on: October 07, 2016, 11:49:58 AM »
Daily analysis of Silver for October 07, 2017



Overview

The silver price broke the $17.43 level strongly and closed yesterday's trading below it, which puts the price under more negative pressure, targeting $46.56 areas as the next main station. Therefore, the bearish trend will remain dominant in the upcoming trading supported by the EMA50. A breach of $17.43 levels will stop the current negative pressure and make the price attempt to recover; its main targets begin at $18.30 and extend to $19.38. The expected trading range for today is between the $16.90 support and $17.65 resistance.

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« Reply #23 on: October 10, 2016, 11:03:35 AM »
Technical analysis of Gold for October 10, 2016

Gold price is bouncing off the $1,250 area as expected. Price remains inside a bearish channel, so a short-term trend remains bearish as long as price is below $1,270. A backtest of $1,300 is very possible but we might first see $1,240 again.



Dark blue lines - bearish channel

Gold price has bounced off the 78.6% Fibonacci retracement of the rise from $1,200 to $1,375. Price remains inside the bearish channel and below the 4-hour Ichimoku cloud. A backtest near $1,290-$1,300 is possible before the downtrend continues. I continue to believe that we are in a corrective phase of the rise from $1,045 to $1,375.




In the weekly chart above you can see Gold price has reached the 38% Fibonacci retracement of the entire rise as we expected once price broke below $1,300. A bounce is justified now. Overall I remain long-term bullish expecting Gold price to complete the entire downward correction between $1,200-$1,150.

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« Reply #24 on: October 11, 2016, 10:36:25 AM »
Daily analysis of GBP/USD for October 11, 2016

The pair was weak during a very quiet Monday's session in terms of macro data, as we had holidays in North America. Currently, GBP/USD is approaching the support level of 1.2312, where a breakout lower should expose the pair to the next interest area of 1.2229. Bears are still strong and one could expect further decline during the week, but a rebound should be taken as a corrective and it could go towards the 1.2468 in a first degree.



H1 chart's resistance levels: 1.2388 / 1.2468

H1 chart's support levels: 1.2312 / 1.2229

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2312, take profit is at 1.2229 and stop loss is at 1.2394.

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« Reply #25 on: October 12, 2016, 11:31:48 AM »
Global macro overview for 12/10/2016

The highly anticipated event of the week, the FOMC Meeting Minutes, is scheduled for release at 06:00pm GMT today. The question that global investors around the world are asking now is: will the FOMC Minutes boost chances for a December rate hike? The recent data from US jobs market indicated a healthy, robust job creation process with the unemployment rate around 5.0%. Nevertheless,the weakening outlook for private-sector consumption may push the FOMC to further delay its normalization cycle, and ongoing concerns surrounding the inflation outlook may keep the FED in a wait-and-see mode for some more time.

Let's now take a look at the EUR/USD technical picture in the 4H time frame. The key intraday support at the level of 1.1043 has been violated and now bears are heading towards the next key support at the level of 1.0958. So far no sign of any positive divergence, so bears are in full control over the market.



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« Reply #26 on: October 13, 2016, 10:55:00 AM »
US Dollar Index Technical Analysis for October 13, 2016.



Technical outlook and chart setups:

The US Dollar Index has rallied past 98.00 level yesterday before retracing lower. The index seems to be in a steady uptrend from 94.00/95.00 levels as depicted here. The trend line supports remain intact and higher highs and higher lows are being printed. Looking at the immediate wave structure, the index seems to be preparing for a pullback/retracement lower towards 97.00 levels or more. It seems that the indice has completed wave 3 within the 5-wave rally expected from 94.50. A pullback is due in the form of wave 4, towards at least 96.95 levels as depicted here, which is the fibonacci 0.382 support of the rally between 94.50 through 98.13 levels respectively. It is hence recommended to exit long positions and remain flat for now. Aggressive traders might want to go short now, with stop at 98.50 targeting 97.00 levels. Immediate resistance is at 98.13 levels, while support is seen at 96.95 levels respectively.

Trading recommendations:

Remain flat for now. Aggressive traders might want to go short, stop at 98.50, target is at 97.00

Good luck!

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« Reply #27 on: October 14, 2016, 10:28:35 AM »
Global macro overview for 14/10/2016

Another good news from the US jobs market was released yesterday. TThe US unemployment claims hit 43-year low as the number of the Americans filings for unemployment benefits remained at 246k, just as a week ago (despite an anticipated slight increase to 252k during the reported period). It was the 84th consecutive week of initial claims remaining below the 300,000 level, the longest streak since 1973. In conclusion, this data is another bit of information that will be used by the Fed policymakers to justify the interest rate increase in December this year.

 Let's now take a look at the EUR/USD technical picture on the 4H time frame. As we can see, the bulls weren't strong enough to break above the dashed blue trend line and the price was rejected at the technical resistance at the level of 1.1043. The next important support is seen at the level of 1.0958 and this is where the price should head now.



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« Reply #28 on: October 17, 2016, 02:09:28 PM »
Technical analysis of EUR/AUD for October 17, 2016

Clearly EUR/AUD is trending down but according to our Fibs applied to the channel breakout point, the pair is yet to test the nearest support at 23.6% Fibs (1.4366).

Consider holding short positions from 1.4730 or adding new short positions at the current rate (1.4440) targeting 23.6% Fibs (1.4365). Stop loss should be well above the 1.4500 psychological resistance.

 Support: 1.4365

  Resistance: 1.4505, 1.4618



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« Reply #29 on: October 18, 2016, 11:48:37 AM »
Technical analysis of USD/CAD for October 18, 2016

General overview for 18/10/2016:

The top for the wave (b) looks to be completed and now the market is developing another sub-wave to the downside. The overall shape of this progression looks more and more like a complex structure instead of typical three-wave correction. Nevertheless, the near-term outlook is still bearish as there are uncompleted wave structures.

Support/Resistance:

1.3022 - WS1

1.3102 - Intraday Resistance

1.3169 - Weekly Pivot

1.3236 - WR1

1.3028 - 1.3045 - Demand Zone

Trading recommendations: As long as the intraday resistance is not clearly violated, day traders should consider opening sell orders as close as possible to the intraday resistance at the level of 1.3185. TP level should be set at the intraay support at the level of 1.3102.




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