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  • USD/CHF reversed off resistance, potential for further drop

    Price reversed from our first resistance where there is potential for further drop.
    Entry : 1.0095 Why it's good : 23.6% Fibonacci retracement, 61.8% Fibonacci extension
    Stop Loss : 1.0123
    Why it's good : horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement
    Take Profit : 1.0008
    Why it's good : horizontal overlap support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension

    Analysis are provided by InstaForex

    Comment


    • EUR/USD 3 Star Sell Signal | Fundamental + Technical Analysis

      Fundamentals: Heightened transatlantic tensions drove the currency lower as EU is ready to retaliate against $23 billion of US goods with US auto tariffs deadline of 18 May approaching. Those duties would be based on the same national - security grounds invoked for controversial American levies on foreign steel and Aluminum. US tariffs on European cars and auto parts will mark a significant escalation of transatlantic tensions because the value of EU automotive exports to the America market is about 10 times greater than that of the bloc's steels and aluminum exports combined. Hence, if the auto tariffs are imposed, EU retaliatory duties would target a bigger amount of US exports to Europe. Elsewhere, Italian 2 year yield rose sharply while EUR plummeted on as Italy Deputy Prime Minister Matteo Salvini said the nation is ready to break EU fiscal rules if necessary to boost employment.

      Technical analysis:

      Price is starting to break an ascending support line and we expect it to drop further to 1.1180. It reacted perfectly from our resistance level yesterday and is on track to reaching its profit target.

      Analysis are provided by InstaForex

      Comment


      • Technical analysis of GBP/USD for 17/05/2019:

        Technical Market Overview:
        There is no rest for the bears on the GBP/USD pair as the market keeps doing the lower lows in the downtrend despite the extremely oversold conditions. The price just recently hit the technical support at the level of 1.2788 after a series of down candles were made in order the break out of the channel. The momentum is still weak and negative, so the next target for bears is located at the level of 1.2772.
        Weekly Pivot Points: WR3 - 1.3288
        WR2 - 1.3229 WR1 - 1.3095
        Weekly Pivot - 1.3031
        WS1 - 1.2885
        WS2 - 1.2821
        WS3 - 1.2676

        Trading Recommendations:
        The market is moving below the trendline, so the best trading strategy for daytraders is to open the sell orders during the local pull-backs. All the targets for this week have been hit already, so. please pay attention to the price action signs of reversal and candlestick patterns at the range support and range resistance to confirm the level for the trading position.

        Analysis are provided by InstaForex

        Comment


        • Control zones NZDUSD 05/20/19

          The downward movement is a medium-term impulse, so selling is still a priority. It is not profitable to sell on Monday from current grades, since the target of the fall is the weekly CZ of 0.6470-0.6456. Any growth should be used as an opportunity to sell the pair. The first resistance will be WCZ 1/4 06545-0.6542.

          The downward trend is so strong that it will be possible to look for opportunities for buying only if a daily absorption takes place and the US session closes above Friday's maximum. This model will be the starting point in the formation of a deep correctional model, the next goal of which will be WCZ 1/2 0.6584-0.6577. While the pair will be trading below the specified zone, the bearish trend will not turn.

          Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.

          Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.

          Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

          Analysis are provided by InstaForex

          Comment


          • Technical analysis of EUR/USD for 21.05.2019

            Technical Market Overview:
            After making the local low at the level of 1.1150, the EUR/USD pair has tried to bounce or even rally higher, but this attempt was capped at the technical resistance zone located between the levels of 1.1167 - 1.1173 and the price reversed. The short-term outlook remains bearish and there is no signs or any trend reversal for now. The next target for bears is seen at the level of 1.1111.

            Weekly Pivot Points:
            WR3 - 1.1317
            WR2- 1.1287
            WR1 - 1.1208
            Weekly Pivot - 1.1178
            WS1 - 1.1099
            WS2 - 1.1069
            WS3 - 1.0986

            Trading Recommendations:
            The best trading strategy in the current market conditions is to sell the local pull-backs with a tight protective stop loss. Due to the oversold market conditions please pay attention to the candlestick trend reversal patterns and market trend reversal patterns. The next important technical support is located at the level of 1.1111 and this is the next target for bears.

            Analysis are provided by InstaForex

            Comment


            • Technical analysis of EUR/USD for 22.05.2019

              Technical Market Overview:

              The EUR/USD market is still hovering around the technical resistance zone located between the levels of 1.1167 - 1.1174 with no intention of breaking higher so far. There were some attempts to rally but were quickly capped by the bears. The short-term outlook remains bearish and there is no signs or any trend reversal for now. The next target for bears is seen at the level of 1.1135 and 1.1111.

              Weekly Pivot Points:

              WR3 - 1.1317
              WR2- 1.1287
              WR1 - 1.1208
              Weekly Pivot - 1.1178
              WS1 - 1.1099
              WS2 - 1.1069
              WS3 - 1.0986

              Trading Recommendations:
              The best trading strategy in the current market conditions is to sell the local pull-backs with a tight protective stop loss. Due to the oversold market conditions please pay attention to the candlestick trend reversal patterns and market trend reversal patterns. The next important technical support is located at the level of 1.1111 and this is the next target for bears.



              *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

              Comment


              • EUR/GBP approaching resistance, potential drop!

                Price is approaching our first resistance level.
                Entry : 0.8858 Why it's good : 61.8% Fibonacci retracement, channel's resistance
                Stop Loss : 0.8956 Why it's good : horizontal overlap resistance, 78.6% Fibonacci retracement
                Take Profit : 0.8773
                Why it's good :23.6% Fibonacci retracement, horizontal overlap support

                Analysis are provided by InstaForex

                Comment


                • EUR/USD approaching resistance, potential drop!

                  Price is approaching our first resistance level.
                  Entry : 1.1227
                  Why it's good : 76.4% Fibonacci retracement, descending resistance line, 61.8% Fibonacci extension
                  Stop Loss : 1.1266 Why it's good : horizontal swing high resistance
                  Take Profit : 1.1180
                  Why it's good : 38.2% Fibonacci retracement, horizontal overlap support

                  Analysis are provided by InstaForex

                  Comment


                  • Technical analysis of ETH/USD for 28.05.2019

                    Crypto Industry News:

                    One of the largest peer-to-peer cryptocurrencies, LocalBitcoins.com, has banned users living in Iran, according to information published on the company's website.

                    The source previously informed the financial media in an e-mail that the impulse to limit Iranian transactions was to comply with financial regulations in Finland, where the headquarters of LocalBitcoins.com is located. In addition, the stock exchanges allegedly cut off users from Iran because of sanctions previously imposed on other exchanges by the United States.

                    Coinbase and Binance cryptocurrency exchanges do not currently support users residing in Iran as well.

                    Technical Market Overview:

                    The ETH/USD pair might have completed wave (4) and now the market is unfolding the wave (5) to the upside, but the momentum behind the move up is still low. The target for this wave is seen at the level of $304. For now, the market is consolidating the recent gains in a narrow range between the levels of $278.14 - $263.42 as the market participants wait for the breakout.

                    Weekly Pivot Points:
                    WR3 - $321.20
                    WR2 - $292.77
                    WR1 - $283.99
                    Weekly Pivot - $254.33
                    WS1 - $241.65
                    WS2 - $213.82
                    WS3 - $203.55

                    Trading Recommendations:
                    The best trading strategy in the current market conditions is to buy the local pull-back as wave 4 is in progress in anticipation of the wave 5 to the upside. Please pay attention to the technical resistance at the level of $278.14 as any breakout above this level is bullish. On the other hand, any violation of the level of $226.17 will accelerate the sell-off towards the next technical support at the level of $212.12.

                    Analysis are provided by InstaForex

                    Comment


                    • EUR/GBP approaching resistance, potential drop!

                      EURGBP approaching resistance, potential drop!
                      Description :
                      Price is approaching our first resistance level.
                      Entry : 0.8852
                      Why it's good : Horizontal swing high resistance, 61.8% Fibonacci retracement
                      Stop Loss : 0.8907
                      Why it's good : 100% Fibonacci extension
                      Take Profit : 0.8773
                      Why it's good : 23.6% Fibonacci retracement, horizontal overlap support

                      Analysis are provided by InstaForex

                      Comment


                      • USD/CHF approaching resistance, potential drop!

                        Price is approaching our first resistance level.
                        Entry : 1.0096
                        Why it's good : Horizontal swing high resistance, 38.2% Fibonacci retracement
                        Stop Loss : 1.0125
                        Why it's good : Horizontal swing high resistance, 50% Fibonacci retracement
                        Take Profit : 0.9973
                        Why it's good : 76.4% Fibonacci retracement, horizontal overlap support

                        Analysis are provided by InstaForex

                        Comment


                        • GBP/JPY approaching support, big potential bounce coming!!

                          Price is approaching our first support level.
                          Entry : 137.65
                          Why it's good : Horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension
                          Stop Loss : 136.29
                          Why it's good : 100% Fibonacci extension
                          Take Profit : 139.61
                          Why it's good : 50% Fibonacci retracement, horizontal overlap resistance, 100% Fibonacci extension

                          Analysis are provided by InstaForex

                          Comment


                          • Another failed attempt of the Dollar index capture the 98 price level.

                            The Dollar index ended last week on a mixed to bearish note as price recaptured the critical resistance at the 98 price level only to lose it with a big decline on the last trading day of the week.

                            Red rectangle - major resistance
                            Green rectangle - major support

                            The Dollar index made new highs on May 23rd but price reversed and did not close above 98. On May 29th and 30th we saw new higher highs but on a closing basis above the major resistance area depicted with a red rectangle. However on the last trading day we saw another reversal. The inability to break above 98 and stay above it, is a worrying sign for bulls. However as long as price is trading above the green rectangle, bulls remain in control of the trend. The many failed attempts point to a bigger reversal in trend, taking into consideration how much time has the index around 98 which is the 61.8% Fibonacci retracement of the entire decline from 103.75 to 88.

                            Analysis are provided by InstaForex

                            Comment


                            • Technical analysis of Bitcoin for 04.06.2019

                              Crypto Industry News:
                              The Japan House of Representatives officially approved a new bill to amend national laws regulating the cryptographic industry.

                              The draft law - prepared by the Japanese Financial Services Agency (FSA) and approved by the House in mid-March this year - was adopted by a majority of votes at the plenary session of the Chamber of Councilors, in accordance with the current update of the FSA on the official website.

                              The project is aimed at introducing changes to two national laws regarding cryptographic assets - the act on the settlement of funds and the law on financial instruments and exchange. Now that the bill has been adopted, the amended acts are expected to enter into force in April 2020.

                              The proposed changes to Japanese financial instruments and payment services will ostentatiously tighten the regulation of cryptocurrencies to promote user protection, more stringent regulation of trading in cryptographic instruments, mitigate industry risks, such as stock market busts, and the broad establishment of a more transparent legal framework for new asset classes.

                              According to earlier reports, the bill also introduces a legal change in the name of cryptocurrencies as "cryptographic assets", previously marked in the country as "virtual currencies". The draft also provides for stricter rules regarding trading in margins, limiting the leverage to double and four times the initial deposit.

                              Technical Market Overview:
                              The BTC/USD pair has made another wave to the downside as anticipated. This wave is a part of the wave 4 correction and so far reached the level of $7,739 after all the technical supports were violated. The next target for bulls is seen at the level of $7,484. This corrective cycle might evolve into an ABCDE Triangle pattern as well, so please keep an eye on the further developments.

                              Weekly Pivot Points:
                              WR3 - $10,284
                              WR2 - $9,622
                              WR1 - $9,121
                              Weekly Pivot - $8.545
                              WS1 - $8,037
                              WS2 - $7,438
                              WS3 - $6,960

                              Trading Recommendations:
                              The best strategy in the current market conditions is to trade in the direction of the main trend, which is still up. All the local bounces and correction should be treated as another opportunity to open the buy orders for a better price. Please notice, the larger time frame trend is up and there are no signs of any trend reversal.

                              Analysis are provided by InstaForex

                              Comment


                              • EURUSD: ECB revised the interest rate forecast. Mario Draghi is pleased with the growth of the economy in the 1st quarter, but fears for its future

                                The euro ignored data on the growth of the eurozone economy in the 1st quarter of this year, as traders closely followed the ECB report. Even despite the fact that the expected dates for raising interest rates in the eurozone were shifted to the middle of next year, and Mario Draghi signaled a possible decrease in interest rates to a negative level if necessary, the euro held its position and even rose against the US dollar.

                                According to the report, a good increase in consumer spending in the euro area in the 1st quarter of this year contributed to accelerating economic growth. Export has also made a significant contribution.

                                According to the EU statistics agency, the eurozone economy grew by 0.4% in the 1st quarter of this year compared to the 4th quarter. Compared with the 1st quarter of 2018, the economy grew by 1.2%. In annual terms, an increase of 1.6%.

                                However, it is already known from the results of the latest reports that in the 2nd quarter of this year, GDP growth slows down, and, as many experts expect, growth will be the weakest since the beginning of economic recovery in 2014.

                                As I noted above, the attention of traders was focused on the ECB meeting, at which the regulator left the refinancing rate unchanged, at the level of 0.0%. The European Central Bank left the deposit rate unchanged at -0.40%.

                                The central bank revised its forecast, saying that rates would remain at current levels, at least until the end of the first half of 2020. The ECB will continue to completely reinvest the income from the QE program over a long period after the first rate increase.

                                A new TLTRO program was also announced, according to which targeted long-term loans for banks will be offered at a rate of 10 bp above the average refinancing rate.

                                The euro rose during the speech of the ECB President Mario Draghi, although the statements made by in principal were negative.

                                Draghi noted that he is closely following how monetary policy affects banks, and is ready to act. If necessary, the ECB will adjust monetary policy instruments. As for the extension of the forecast period of saving rates, it was quite expected due to the long-term uncertainty, which is now observed in the global economy. First of all, uncertainty is associated with conflicts in international trade and changes in the policies of central banks. Draghi also said that the ECB may lower interest rates if necessary.

                                As for the economy, the head of the ECB is confident that, despite the stronger growth in eurozone GDP in the 1st quarter of this year, the difficulties in the world still put pressure on the prospects for further growth, and the data indicate a slightly weaker growth in the economy 2nd and 3rd blocks.

                                ECB economists forecast GDP growth in 2019 by 1.2% against the previous forecast of growth of 1.1%, while in 2020 it is expected to grow by 1.4% against the previous forecast of growth by 1.6%.

                                The ECB president is confident that the increase in employment and wage growth will continue to support the eurozone economy, but the threat of protectionism and geopolitical factors will slow it down.

                                Analysis are provided by InstaForex

                                Comment

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