U.S. Leading Economic Index Climbs Up More Than Expected In July

By | August 17, 2018

A report launched by the Conference Board on Friday revealed a larger than anticipated increase by its index of leading U.S. economic indicators in the month of July.

The Conference Board said its prominent financial index climbed by 0.6 percent in July following a 0.5 percent boost in June. Economists had actually expected the index to increase by 0.4 percent.

“The U.S. LEI increased in July, recommending the United States economy will continue broadening at a strong rate for the remainder of this year,” said Ataman Ozyildirim, Director of Organisation Cycles and Development Research Study at the Conference Board.

He included, “The strengths among the elements of the leading index were very prevalent, with unemployment claims, the monetary elements, and the ISM New Orders Index making the largest positive contributions.”

The report stated the coincident economic index edged up by 0.2 percent in July after rising by 0.3 percent in June, while the delayed financial index dipped by 0.2 percent after ticking up by 0.2 percent in the previous month.

The product has been supplied by InstaForex Company – www.instaforex.com

Jonathon Alexander

Dollar Little Changed After University Of Michigan'’s Customer Sentiment Index

By | August 17, 2018

At 10:00 am ET Friday, the University of Michigan’s initial customer sentiment index for August has actually been released. After the data, the greenback altered little bit versus its major competitors.

The greenback was trading at 110.40 against the yen, 1.1409 versus the euro, 0.9947 versus the franc and 1.2731 versus the pound around 10:10 am ET.

The product has been supplied by InstaForex Company – www.instaforex.com

Jonathon Alexander

Fractal analysis for significant currency sets as of August 17 888011000 110888 Dear colleagues.For the EUR/ USD set, the cost remains in the correction zone. The level of 1.1455 is the essential support for the downward cycle from August 8. For the GBP/ USD set, we anticipate the extension of the motion downward. We are wait after passing the price of the noise range of 1.2684-1.2655. For the USD/ CHF pair, the subsequent objectives for the top were determined from the upward structure on August 14. For the USD/ JPY set, the upward trend is anticipated after passing the cost of the sound series of 110.91 – 111.10. For the EUR/ JPY pair, the price forms a regional down structure from August 14. The advancement of this level is expected after the breakdown of 124.82. For the GBP/ JPY set, the rate likewise forms a regional structure for the bottom of August 14. The downward movement is anticipated after the breakdown of 139.86.Forecast for August 17:Analytical evaluation of currency sets in the scale of H1: For the of EUR/ USD pair, the essential levels on the scale of H1 are: 1.1539, 1.1455, 1.1399, 1.1365, 1.1282, 1.1245, 1.1172, 1.1133 and 1.1043. Here, we continue to follow the down cycle from August 8. At the moment, the rate is in correction. Short-term down motion is possible in the area of 1.1282 – 1.1245. The breakdown of the last value need to be accompanied by a noticable down movement to the level of 1.1172. In the location of 1.1172 -1.1133 is the combination of the cost. The prospective value for the bottom is the level of 1.1043, the motion toward which we expect after the breakdown of 1.1131. Consolidated traffic is possible in the area of 1.1365-1.1399. The breakdown of the last worth will lead to extensive correction. Here, the target is 1.1455.This level is the crucial support for the down structure. Its breakdown will lead an upwardmotion. In this case, the target is 1.1539. The main trend is a regional downstructure from August 8, the correctionstage.Trading suggestions: Purchase: 1.1401 Take profit: 1.1452Buy 1.1457 Take earnings: 1.1537 Sell: 1.1244 Take profit: 1.1174 Offer: 1.1132 Take profit: 1.1045 For the GBP/ USD set, the key levels on the scale of H1 are 1.2907, 1.2825, 1.2763, 1.2727, 1.2684, 1.2655, 1.2601 and 1.2561. Here, we continue to follow the regional downward cycle from August 7. The extension of the down movement is expected after passing the rate of the noise variety 1.2684-1.2655. In this case, the target is 1.2601. The possible value for the bottom is the level of 1.2561, after which we expect combination in the location of 1.2601-1.2561.Short-term up movement is possible in the area of 1.2727-1.2763. The breakdown of the last worth will lead to thorough correction. Here, the target is 1.2825.This level is the essential assistancefor the bottom. Going by the rate will result in form the initial conditions for the top. In this case, the possible target is 1.2907. The main trend is the regional downward structure of August 7. Trading recommendations: Purchase: 1.2727 Take earnings: 1.2760 Purchase: 1.2765 Take earnings: 1.2822 Sell: 1.2655 Take earnings: 1.2604 Sell: 1.2658 Take earnings:1.2562 For the USD/ CHF, the essential levels on the scale of H1 are: 1.0043, 1.0012, 1.0001, 0.9985, 0.9962, 0.9949, 0.9932 and 0.9900. Here, we clarified the subsequent objectives from the upward structure on August 14. The extension of the upward movement is expected after the breakdown of 0.9985. In this case, the target is 1.0001. In the location of 1.0001-1.0012 is the combination of the cost. Break of the level 1.0012 will allow us to rely on the movement to the prospective target of 1.0043, from this level we expect a pullback downwards.Short-term downward movement is possible in the areaof 0.9962 -0.9949. The breakdown of the last value will lead to thorough correction. Here, the target is 0.9932. This level is the crucial support forthe top.The primary trend is the formation of theupward structure of August 14. Trading suggestions: Buy: 0.9985Take earnings: 1.0000 Buy: 1.0014 Take revenue: 1.0040 Sell: 0.9960 Take earnings: 0.9952 Sell: 0.9946 Take revenue: 0.9934 For the USD/ JPY, the key levels on a scale are: 112.41, 112.23, 111.73, 111.49, 111.10, 110.91, 110.43, 110.11 and 109.76. Here, we think about the upward structure of August 13 as medium-term preliminary conditions, the advancement of which is expected after passing the price of the sound variety 110.91-111.10. In this case, the very first target is 111.49. In the location of111.49 -111.73 short-term upward movement, in addition to is the consolidation of the cost. The level 111.75 break need to be accompanied by a noticable upward movement towards the possible target of 112.41, upon reaching this level we anticipate combination in the areaof 112.23-112.41. Level 110.43 is the key support for theupward structure of August 13. Its breakdown will causethe advancement of a down motion. In this case, the very first target is 110.11. The potential worth for the bottomis the level of 109.76. The main trend: medium-term upward structure of August 13. Trading suggestions: Purchase: 111.11 Take profit: 111.47 Purchase: 111.52 Take profit: 111.70 Offer: 110.41 Take profit: 110.13 Offer: 110.08 Take profit: 109.78 For the CAD/ USD set, the crucial levels on the scale of H1 are: 1.3270, 1.3220, 1.3181, 1.3124, 1.3095, 1.3077 and 1.3047. Here, the rate forms a regional structure for the advancement of the upward movement of August 15. The extension of the upward movement is expected after the breakdown of 1.3181. In this case, the target is 1.3220.Near this level is the combination of the rate. The potential worth for the top is the level of 1.3270, the motionto which we anticipate after the breakdown of 1.3222. The correction is anticipated after the breakdown of1.3124, the target is 1.3095, the variety 1.3095-1.3077 is the key support for the top. Going by the price will lead a down propensity. In this case, the target is 1.3047. The main pattern is the development of a local upwardstructure of August 15. Trading suggestions: Buy: 1.3181 Take revenue: 1.3220 Purchase: 1.3222 Take revenue: 1.3268 Sell: 1.3122 Take revenue: 1.3097 Sell: 1.3075 Take revenue: 1.3049 For the AUD/ USD set, the essential levels on the scale of H1 are: 0.7373, 0.7305, 0.7260, 0.7173, 0.7132, 0.7080, 0.7046 and 0.6978. Here, we follow the development of the downward structure of August 9. Short-term downward motion ispossible in the area of 0.7173 -0.7132. The breakdown of the last value ought to be accompanied by a pronounced down motion. Here, the target is 0.7080. In the area of 0.7080 -0.7046 is the consolidation of therate. The potential value for the bottom is the level of 0.6978, upon reaching which we expect a rollback to the top.Short-term upward motion is possible in thelocation of 0.7260-0.7305. The breakdown of the last worth will cause extensive correction. Here, the target is 0.7373. This level is the key assistance for the down structure.The primary trend is the down structure of August 9. Trading suggestions: Purchase: 0.7261 Take revenue: 0.7303 Buy: 0.7306 Take profit: 0.7370 Sell: 0.7173 Take earnings: 0.7134 Sell: 0.7130 Take profit: 0.7082 For the of EUR/ JPY, the key levels on the scale of H1 are: 128.04, 127.02, 126.28, 125.72, 124.82, 124.12, 123.33 and 122.77.Here, the cost forms a local structure for the bottom of August 14. The extension of the movement downwards is expected after the breakdown of 124.82. In this case, the target is 124.12. Near this level the is the combination of the cost. The level 124.10 break should be accompanied by a noticable downward movement. In this case, the targetis 122.77, upon reaching this level,we anticipate debt consolidation, and also a rollback to the top.Short-term upward movement is possible in thelocation of 126.28 – 127.02. The breakdown of the last worth will cause the development of preliminary conditions for the upward cycle. In this case, the prospective target is 128.04. The main trend is the regional structure for the bottom of August 14. Trading suggestions: Buy: 126.30 Take earnings: 127.00 Purchase: 127.05 Take earnings: 128.00 Offer: 124.80 Take revenue: 124.20 Offer: 124.10 Take earnings: 123.35 For the GBP/ JPY set, the key levels on the scale of H1 are: 142.35, 141.49, 140.90, 139.86, 139.17, 138.26 and 137.68. Here, the cost forms a regional down structure from August 14. Short-term drop is possible in the location of 139.86-139.17. The breakdown of the last worth will lead to the advancement of a pronounced movement. Here, the target is 138.26, the possible worth for the bottom is the level of 137.68. Near which we expect combination, and also a rollback upward.Short-term upward movement is possible in the location of 140.90-141.49. The breakdown of the latter value will lead to the development of an upward structure. Here , the target is 142.35. The possible worth for the top is the level of143.33, to which we expect the preliminary conditions to be formalized.The primary trend is the local structure for the bottom of August 14. Trading suggestions: Buy: 140.95 Take revenue: 141.40 Buy: 141.55 Take earnings: 142.35 Offer: 139.80 Take revenue: 139.20 Sell: 139.15 Take earnings: 138.30 The product has been supplied by InstaForex Business- www.instaforex.com

By | August 17, 2018

Dear colleagues.

For the EUR / USD pair, the price is in the correction zone. The level of 1.1455 is the key support for the downward cycle from August 8. For the GBP / USD pair, we expect the continuation of the movement downward. We are wait after passing the price of the noise range of 1.2684 – 1.2655. For the USD / CHF pair, the subsequent goals for the top were determined from the upward structure on August 14. For the USD / JPY pair, the upward trend is expected after passing the price of the noise range of 110.91 – 111.10. For the EUR / JPY pair, the price forms a local downward structure from August 14. The development of this level is expected after the breakdown of 124.82. For the GBP / JPY pair, the price also forms a local structure for the bottom of August 14. The downward movement is expected after the breakdown of 139.86.

Forecast for August 17:

Analytical review of currency pairs in the scale of H1:

analytics5b7623e34ccd8.png

For the of EUR / USD pair, the key levels on the scale of H1 are: 1.1539, 1.1455, 1.1399, 1.1365, 1.1282, 1.1245, 1.1172, 1.1133 and 1.1043. Here, we continue to follow the downward cycle from August 8. At the moment, the price is in correction. Short-term downward movement is possible in the area of 1.1282 – 1.1245. The breakdown of the last value should be accompanied by a pronounced downward movement towards the level of 1.1172. In the area of 1.1172 – 1.1133 is the consolidation of the price. The potential value for the bottom is the level of 1.1043, the movement toward which we expect after the breakdown of 1.1131.

Consolidated traffic is possible in the area of 1.1365 – 1.1399. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1455. This level is the key support for the downward structure. Its breakdown will lead an upward movement. In this case, the target is 1.1539.

The main trend is a local downward structure from August 8, the correction stage.

Trading recommendations:

Buy: 1.1401 Take profit: 1.1452

Buy 1.1457 Take profit: 1.1537

Sell: 1.1244 Take profit: 1.1174

Sell: 1.1132 Take profit: 1.1045

analytics5b7623f2af10a.png

For the GBP / USD pair, the key levels on the scale of H1 are 1.2907, 1.2825, 1.2763, 1.2727, 1.2684, 1.2655, 1.2601 and 1.2561. Here, we continue to follow the local downward cycle from August 7. The continuation of the downward movement is expected after passing the price of the noise range 1.2684 – 1.2655. In this case, the target is 1.2601. The potential value for the bottom is the level of 1.2561, after which we expect consolidation in the area of 1.2601 – 1.2561.

Short-term upward movement is possible in the area of 1.2727-1.2763. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2825. This level is the key support for the bottom. Passing by the price will lead to form the initial conditions for the top. In this case, the potential target is 1.2907 .

The main trend is the local downward structure of August 7.

Trading recommendations:

Buy: 1.2727 Take profit: 1.2760

Buy: 1.2765 Take profit: 1.2822

Sell: 1.2655 Take profit: 1.2604

Sell: 1.2658 Take profit: 1.2562

analytics5b7623ff68023.png

For the USD / CHF, the key levels on the scale of H1 are: 1.0043, 1.0012, 1.0001, 0.9985, 0.9962, 0.9949, 0.9932 and 0.9900. Here, we clarified the subsequent goals from the upward structure on August 14. The continuation of the upward movement is expected after the breakdown of 0.9985. In this case, the target is 1.0001. In the area of 1.0001 – 1.0012 is the consolidation of the price. Break of the level 1.0012 will allow us to count on the movement towards the potential target of 1.0043, from this level we expect a pullback downwards.

Short-term downward movement is possible in the area of 0.9962 – 0.9949. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9932. This level is the key support for the top.

The main trend is the formation of the upward structure of August 14.

Trading recommendations:

Buy: 0.9985 Take profit: 1.0000

Buy: 1.0014 Take profit: 1.0040

Sell: 0.9960 Take profit: 0.9952

Sell: 0.9946 Take profit: 0.9934

analytics5b76241115be4.png

For the USD / JPY, the key levels on a scale are: 112.41, 112.23, 111.73, 111.49, 111.10, 110.91, 110.43, 110.11 and 109.76. Here, we consider the upward structure of August 13 as medium-term initial conditions, the development of which is expected after passing the price of the noise range 110.91 – 111.10. In this case, the first target is 111.49. In the area of 111.49 – 111.73 short-term upward movement, as well as is the consolidation of the price. The level 111.75 break should be accompanied by a pronounced upward movement towards the potential target of 112.41, upon reaching this level we expect consolidation in the area of 112.23 – 112.41.

Level 110.43 is the key support for the upward structure of August 13. Its breakdown will lead to the development of a downward movement. In this case, the first target is 110.11. The potential value for the bottom is the level of 109.76.

The main trend: medium-term upward structure of August 13.

Trading recommendations:

Buy: 111.11 Take profit: 111.47

Buy: 111.52 Take profit: 111.70

Sell: 110.41 Take profit: 110.13

Sell: 110.08 Take profit: 109.78

analytics5b7624212b353.png

For the CAD / USD pair, the key levels on the scale of H1 are: 1.3270, 1.3220, 1.3181, 1.3124, 1.3095, 1.3077 and 1.3047. Here, the price forms a local structure for the development of the upward movement of August 15. The continuation of the upward movement is expected after the breakdown of 1.3181. In this case, the target is 1.3220. Near this level is the consolidation of the price. The potential value for the top is the level of 1.3270, the movement towards which we expect after the breakdown of 1.3222.

The correction is expected after the breakdown of 1.3124, the target is 1.3095, the range 1.3095 – 1.3077 is the key support for the top. Passing by the price will lead a downward tendency. In this case, the target is 1.3047.

The main trend is the formation of a local upward structure of August 15.

Trading recommendations:

Buy: 1.3181 Take profit: 1.3220

Buy: 1.3222 Take profit: 1.3268

Sell: 1.3122 Take profit: 1.3097

Sell: 1.3075 Take profit: 1.3049

analytics5b76242fac431.png

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7373, 0.7305, 0.7260, 0.7173, 0.7132, 0.7080, 0.7046 and 0.6978. Here, we follow the development of the downward structure of August 9. Short-term downward movement is possible in the area of 0.7173 – 0.7132. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the target is 0.7080. In the area of 0.7080 – 0.7046 is the consolidation of the price. The potential value for the bottom is the level of 0.6978, upon reaching which we expect a rollback to the top.

Short-term upward movement is possible in the area of 0.7260 – 0.7305. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7373. This level is the key support for the downward structure.

The main trend is the downward structure of August 9.

Trading recommendations:

Buy: 0.7261 Take profit: 0.7303

Buy: 0.7306 Take profit: 0.7370

Sell: 0.7173 Take profit: 0.7134

Sell: 0.7130 Take profit: 0.7082

analytics5b76243e15086.png

For the of EUR / JPY, the key levels on the scale of H1 are: 128.04, 127.02, 126.28, 125.72, 124.82, 124.12, 123.33 and 122.77. Here, the price forms a local structure for the bottom of August 14. The continuation of the movement downwards is expected after the breakdown of 124.82. In this case, the target is 124.12. Near this level the is the consolidation of the price. The level 124.10 break must be accompanied by a pronounced downward movement. In this case, the target is 122.77, upon reaching this level, we expect consolidation, and also a rollback to the top.

Short-term upward movement is possible in the area of 126.28 – 127.02. The breakdown of the last value will lead to the development of initial conditions for the upward cycle. In this case, the potential target is 128.04.

The main trend is the local structure for the bottom of August 14.

Trading recommendations:

Buy: 126.30 Take profit: 127.00

Buy: 127.05 Take profit: 128.00

Sell: 124.80 Take profit: 124.20

Sell: 124.10 Take profit: 123.35

analytics5b76246147707.png

For the GBP / JPY pair, the key levels on the scale of H1 are: 142.35, 141.49, 140.90, 139.86, 139.17, 138.26 and 137.68. Here, the price forms a local downward structure from August 14. Short-term downtrend is possible in the area of 139.86 – 139.17. The breakdown of the last value will lead to the development of a pronounced movement. Here, the target is 138.26, the potential value for the bottom is the level of 137.68. Near which we expect consolidation, and also a rollback upward.

Short-term upward movement is possible in the area of 140.90 – 141.49. The breakdown of the latter value will lead to the development of an upward structure. Here, the target is 142.35. The potential value for the top is the level of 143.33, to which we expect the initial conditions to be formalized.

The main trend is the local structure for the bottom of August 14.

Trading recommendations:

Buy: 140.95 Take profit: 141.40

Buy: 141.55 Take profit: 142.35

Sell: 139.80 Take profit: 139.20

Sell: 139.15 Take profit: 138.30

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Bitcoin analysis for August 17, 2018 888011000 110888 Trading recommendations: According to the 30M time frame, I found that rate did phony breakout of the yesterday’s high at the level of$6,440, which is a sign that buying looks dangerous. I also found a weekly pivot at$6,641 and a surprise bearish divergence on the RSI oscillator,which is another sign of weakness. My suggestions is to look for potential selling chances. The downward targetis set at the price of$ 6,200. Support/Resistance$6,520– Intraday resistance $6,380– Intraday support$6,200– Objective target With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.The producthas been provided by InstaForexCompany-www.instaforex.com

By | August 17, 2018

analytics5b76bbe743b33.png

Trading recommendations:

According to the 30M time frame, I found that price did fake breakout of the yesterday’s high at the level of $6,440, which is a sign that buying looks risky. I also found a weekly pivot at $6,641 and a hidden bearish divergence on the RSI oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of $6,200.

Support/Resistance

$6,520 – Intraday resistance

$6,380– Intraday support

$6,200 – Objective target

With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Analysis of Gold for August 17, 2018 888011000 110888 Recently, Gold has actually been trading sideways at the cost of$1,176.15. Inning accordance with the M15 time– frame, I found that Gold remains in a consolidation phase and a prospective rising wedge remains in development, which is an indication that purchasing looks risky. The cost likewise broke the month-to-month S2 support in the background, which is another indication of the downward pressure. My advice is to watch for a otential breakout of the assistancetrendline to validate additional downward extension. The downward targets are set atthe cost of$1,171.85and at the price of $1,161.80. Resistance levels: R1:$1,183.57 R2: $1,193.45 R3:$1,205.37 Assistance levels: S1:$1,161.75 S2:$1,149.85 S3:$1,139.95 Trading suggestions for today: expect potential selling opportunities.The product has actually been provided by InstaForex Company-www.instaforex.com

By | August 17, 2018

analytics5b76b937d9177.png

Recently, Gold has been trading sideways at the price of $1,176.15. According to the M15 time – frame, I found that Gold is in a consolidation phase and a potential rising wedge is in progress, which is a sign that buying looks risky. The price also broke the monthly S2 support in the background, which is another sign of the downward pressure. My advice is to watch for a otential breakout of the support trendline to confirm further downward continuation. The downward targets are set at the price of $1,171.85 and at the price of $1,161.80.

Resistance levels:

R1: $1,183.57

R2: $1,193.45

R3: $1,205.37

Support levels:

S1: $1,161.75

S2: $1,149.85

S3: $1,139.95

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Ichimoku cloud indicator analysis of EUR/USD for August 17, 2018 888011000 110888 EUR/USD strategy remains unchanged to our last analysis. The price stays above short-term support of 1.1350 and we expect rates to move towards the previous support level and now resistance at 1.15 and close to the Ichimoku cloud resistance. Red line-resistance Blue line-downward sloping pattern line resistance Green lines -expectation EUR/USD is holding above the tenkan-sen(red line indication)while the tenkan-sen is breaking above the kijun-sen (yellow line sign). This is a weak bullish indication,that validates a bounce towards 1.1450-1.15. The pattern stays bearish in the medium-term and will stay bearish as long as the cost is below 1.1570-1.16. The material has been supplied by InstaForex Business- www.instaforex.com

By | August 17, 2018

EUR/USD plan remains unchanged to our last analysis. The price remains above short-term support of 1.1350 and we expect prices to move towards the previous support level and now resistance at 1.15 and close to the Ichimoku cloud resistance.

analytics5b766f316fde7.png

Red line – resistance

Blue line – downward sloping trend line resistance

Green lines – expectation

EUR/USD is holding above the tenkan-sen (red line indicator) while the tenkan-sen is breaking above the kijun-sen (yellow line indicator). This is a weak bullish sign, that justifies a bounce towards 1.1450-1.15. The trend remains bearish in the medium-term and will remain bearish as long as the price is below 1.1570-1.16.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Technical analysis of Gold for August 17, 2018 888011000 110888 The Gold price offered us a turnaround formation in the everyday chart. The Gold price might have made a short-term bottom and we should expect the Gold cost to bounce a minimum of towards $1,190-$1,210 location. Gold bulls ought to feel more comfortable on a break above $1,183. Black lines-down sloping wedge pattern The Gold rate stays in a bearish trend listed below the Ichimoku cloud and inside the wedge pattern. The Gold rate made a reversal pattern the other day and with short-term resistance at$1,183, a break above it will break the ice for a bounce towards$ 1,193 very first or towards$1,205 . The upper wedge boundary and the Ichimoku cloud is an important trend resistance. Assistance is at $1,160. The material has been offered by InstaForex Company-www.instaforex.com

By | August 17, 2018

The Gold price gave us a reversal formation in the daily chart. The Gold price could have made a short-term bottom and we should expect the Gold price to bounce at least towards $1,190-$1,210 area. Gold bulls should feel more comfortable on a break above $1,183.

analytics5b766df7a89cf.png

Black lines – downward sloping wedge pattern

The Gold price remains in a bearish trend below the Ichimoku cloud and inside the wedge pattern. The Gold price made a reversal pattern yesterday and with short-term resistance at $1,183, a break above it will open the way for a bounce towards $1,193 first or towards $1,205. The upper wedge boundary and the Ichimoku cloud is an important trend resistance. Support is at $1,160.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Elliott wave analysis of EUR/NZD for August 17, 2018 888011000 110888 Not truly anything new to say here. We need a break above resistance at 1.7355 to validate that redwave ii has finished and red waveiii to above 1.7484 is developing. The next crucial upside targets to try to find is seen at 1.7924 and 1.8369. Support is seen at 1.7247 and1.7220. R3: 1.7484 R2: 1.7417 R1: 1.7365 Pivot: 1.7299 S1: 1.7270 S2: 1.7243 S3: 1.7220 Trading recommendation: We are long EUR from 1.7245 with our stop placed at 1.7215. The product has actually been supplied by InstaForex Business-www.instaforex.com

By | August 17, 2018

analytics5b766d311dc1a.png

Not really anything new to say here. We need a break above resistance at 1.7355 to confirm that red wave ii has completed and red wave iii to above 1.7484 is developing. The next important upside targets to look for is seen at 1.7924 and 1.8369.

Support is seen at 1.7247 and 1.7220.

R3: 1.7484

R2: 1.7417

R1: 1.7365

Pivot: 1.7299

S1: 1.7270

S2: 1.7243

S3: 1.7220

Trading recommendation:

We are long EUR from 1.7245 with our stop placed at 1.7215.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander