Category Archives: Quick Forex

Analysis of GBP/USD for June 23, 2017 888011000 110888 Just recently, the GBP/USD pair has been trading upwards. The rate evaluated the level of 1.2744. Anyway, inning accordance with the 30M amount of time, I discovered climax action followed by no demand bars, which is an indication that purchasing looksrisky. My recommendations is to expect prospective selling chances. The downward targets are set at 1.2653 and 1.2640. Resistance levels: R1: 1.2700 R2: 1.2715 R3: 1.2740 Assistance levels: S1: 1.2660 S2: 1.2635 S3: 1.2615 Trading suggestions for today: expect possible selling opportunities.The product has actually been supplied by InstaForex Company-www.instaforex.com

By | June 23, 2017

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2744. Anyway, according to the 30M time frame, I found climax action followed by no demand bars, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at 1.2653 and 1.2640.

Resistance levels:

R1: 1.2700

R2: 1.2715

R3: 1.2740

Support levels:

S1: 1.2660

S2: 1.2635

S3: 1.2615

Trading recommendations for today: watch for potential selling opportunities.

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

Taiwan Industrial Output Rebounds More Than Expected

By | June 23, 2017

Taiwan’s commercial production increased at a faster-than-expected rate in May, after falling in the previous month, initial figures from the Ministry of Economic Affairs revealed Friday.

Industrial production climbed 0.78 percent year-over-year in May, reversing a 0.15 percent drop in April. Economists had actually expected a 0.5 percent increase for the month.

Among sectors, making production grew 2.2 percent each year in May, while mining and quarrying output declined by 8.18 percent.

On a regular monthly basis, commercial production increased a seasonally adjusted 0.15 percent in May, in contrast to a 1.99 percent fall in April.

The product has been offered by InstaForex Business – www.instaforex.com

NZ Dollar Advances Against Most Majors

By | June 23, 2017

The New Zealand dollar strengthened against most major currencies in the European session on Friday.

The NZ dollar rose to a 4-day high of 0.7289 against the U.S. dollar and nearly a 4-month high of 81.15 against the yen, from early lows of 0.7249 and 80.73, respectively.

Against the euro, the kiwi advanced to a 2-month high of 1.5318 from an early low of 1.5379.

If the kiwi extends its uptrend, it is likely to find resistance around 0.74 against the greenback, 82.00 against the yen and 1.51 against the euro.

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

Intraday technical levels and trading recommendations for EUR/USD for June 23, 2017 888011000 110888 Daily Outlook In January 2017, the previous drop reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum hasbeen expressed on the chart.The next daily supply level for the EUR/USD pair lies in between 1.1400-1.1520 where rate action should be expected possible bearish rejection.Recent update: the rate levels around 1.1280-1.1295 constituted the intraday resistance where the present bearish movement was initiated.The bearish pullback will probably extend towards 1.1110 and 1.1000 supplied that the EUR/USD set keeps trading listed below 1.1170. On the other hand, a bullish breakout above 1.1285 will be compulsory to pursue an additional advance to 1.1400. H4 Outlook On May 30, a significant bullish rejection was expressed around the cost level of 1.1170(lower Limit of the Wedge pattern in confluencewith 61.8 %Fibonacci Level). On June 14, a significant bearish rejection was expressed around the illustrated supply level 1.1280-1.1295(the upper limit of the Wedge pattern ). This was followed by a bearish breakdown of the lower limit of theWedge pattern as well.Today, bearish determination below 1.1170 (lower limit of the Wedge pattern and 61.8% Fibonacci correction) will be needed to boost an additional decline to 1.1110 and 1.1050.On the other hand, note that re-closure above 1.1200 (lower limitation of the wedge pattern) brings bullish pressure into the market again. This allows a further advance towards 1.1270 initially.Trade recommendations: Avalid SELL entry can be consideredaround the rate levels of 1.1200(61.8%Fibonacci Level). S/L must be positioned above 1.1220 (the most recent top)while T/P levels need to be placed at 1.1100, 1.1050 and 1.0850. The product has been provided by InstaForex Business -www.instaforex.com

By | June 23, 2017

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Daily Outlook

In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.

The next daily supply level for the EUR/USD pair is located between 1.1400-1.1520 where price action should be watched for possible bearish rejection.

Recent update: the price levels around 1.1280-1.1295 constituted the intraday resistance where the current bearish movement was initiated.

The bearish pullback will probably extend towards 1.1110 and 1.1000 provided that the EUR/USD pair keeps trading below 1.1170.

On the other hand, a bullish breakout above 1.1285 will be mandatory to pursue a further advance towards 1.1400.

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H4 Outlook

On May 30, a significant bullish rejection was expressed around the price level of 1.1170 (lower Limit of the Wedge pattern in confluence with 61.8% Fibonacci Level ).

On June 14, a significant bearish rejection was expressed around the depicted supply level 1.1280-1.1295 (the upper limit of the Wedge pattern).

This was followed by a bearish breakdown of the lower limit of the Wedge pattern as well.

Today, bearish persistence below 1.1170 (lower limit of the Wedge pattern and 61.8% Fibonacci correction) will be needed to enhance a further decline towards 1.1110 and 1.1050.

On the other hand, note that re-closure above 1.1200 (lower limit of the wedge pattern) brings bullish pressure into the market again. This allows a further advance towards 1.1270 initially.

Trade recommendations:

A valid SELL entry can be considered around the price levels of 1.1200 (61.8% Fibonacci Level).

S/L should be placed above 1.1220 (the most recent top) while T/P levels should be placed at 1.1100, 1.1050 and 1.0850.

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

NZD/USD Intraday technical levels and trading recommendations for June 23, 2017 888011000 110888 Daily Outlook The NZD/USD set has actually been trending up within the portrayed bullish channel considering that January 2016. In November 2016, early signs of bullish weak point were revealed on the chart when the set failed to tape a new high above 0.7400. A bearish breakout of the lower limitation of thechannel took place in December 2016. In February 2017, the depicted short-term downtrend was initiated in the portrayed supply zone(0.7310-0.7380).However, a current bullish breakout above the sag line happened on May 22. Since then, the market has been bullish as depicted on the chart.The cost zone of 0.7150-0.7230(SUPPLY ZONE in confluence with 61.8%Fibonacci level)stood as a momentary resistance zone until a bullish breakout was expressed above 0.7230. This resulted in a fast bullish advanceto the next supply zone around 0.7310-0.7380 where obvious bearish rejection was revealed on June 14. Currently, the NZD/USD pair remains trapped in between the rate levels of0.7230-0.7310 up until breakout takes place in either direction.Trade recommendations: Conservative traders can wait for a bearish closure below 0.7230then 0.7150 (61.8%Fibo level )for a legitimate OFFER position.S/ L should be put above 0.7250 while T/P levels ought to be placed at0.7050, 0.6970, and 0.6850. On the other hand, dangerous traders can have a high-risk OFFER entry at retesting of the price level of 0.7310. S/L ought tobe positioned above 0.7400. The material has actually been offered by InstaForex Business-www.instaforex.com

By | June 23, 2017

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Daily Outlook

The NZD/USD pair has been trending up within the depicted bullish channel since January 2016.

In November 2016, early signs of bullish weakness were expressed on the chart when the pair failed to record a new high above 0.7400.

A bearish breakout of the lower limit of the channel took place in December 2016.

In February 2017, the depicted short-term downtrend was initiated in the depicted supply zone (0.7310-0.7380).

However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.

The price zone of 0.7150-0.7230 (SUPPLY ZONE in confluence with 61.8% Fibonacci level) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.

This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 where evident bearish rejection was expressed on June 14.

Currently, the NZD/USD pair remains trapped between the price levels of 0.7230 – 0.7310 until breakout occurs in either direction.

Trade recommendations:

Conservative traders can wait for a bearish closure below 0.7230 then 0.7150 (61.8% Fibo level) for a valid SELL position.

S/L should be placed above 0.7250 while T/P levels should be placed at 0.7050, 0.6970, and 0.6850.

On the other hand, risky traders can have a high-risk SELL entry at retesting of the price level of 0.7310. S/L should be placed above 0.7400.

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

Worldwide macro introduction for 23/06/2017

By | June 23, 2017

Worldwide macro summary for 23/06/2017: Three Federal Free market Committee officials will be speaking today: James Bullard(15:15 GMT ), Loretta Mester

(16:40 GMT)and Jerome Powell (18:15 GMT).

All them represent either dovish or hawkish perspective regarding current FED financial policy. The existing market consensus appears to be that the Federal Reserve will continue tightening financial policy, in spite of low inflation and lowering inflation expectations. Global investors fear that the Fed might tighten policy more than the information actually warrants, which it ultimately injured the US economy excessive. Existing data from the US economy are showing the total good health of all financial sectors with employment and real estate as the leading entertainers. The typical salaries development is still limited and is not increasing as fast as

anticipated, however still, the pace of expansion is reasonably excellent. On the other hand, a consistent absence of inflationary pressures is the most significant problem for FOMC members. In the near term, inflation in the US is expected to remain a little below the 2%target, however in the medium term, the FED targets ought to be reached as home costs has picked up and repaired investment has actually continued to expand.Last week, the Federal Reserve Bank raised the rate of interest from 1.00%to 1.25%in an 8-1 vote. Moreover, the analysis of the dot-plot revealed that 8 out of the 16 FOMC members are seeing more interest rate hikes in the near future. This point of view ought to help the United States Dollar to value more throughout the board in the nearby future.Let’s now take a look at the United States Dollar Index technical picture on the H4 time frame. After the interest rate choice, the bulls have managed to break out above the navy pattern line resistance around the level of 97.50, however the cost was capped at the next technical resistance at the level of 97.80. Presently, the cost is testing the navy pattern line from listed below in overbought market conditions.< img width="450" src ="http://qkfx.com/wp-content/uploads/2017/06/global-macro-overview-for-23062017.jpg"alt= "analytics594cda6315147.jpg"/ > The material has been offered by InstaForex Company-www.instaforex.com

Trading prepare for 23/06/2017

By | June 23, 2017

Trading prepare for 23/06/2017: A quiet Asian trading session went without any publications or crucial occasions. The dollar compromised against all currencies from the G10 basket, but the change did not exceed 0.2%. The risky currencies are leading now: AUD (+0.19%), GBP (+0.16%) and NZD (+0.15%). Besides, the Asian stock exchange posted some modest changes, the Nikkei 225 is up 0.1%, and the Hang Seng oscillates around the other day’s closing cost. The Shanghai Composite is down 0.6%.

On Friday 23rd of June, the event calendar is quite hectic with some essential press release. The series of PMI reports from Japan, France Germany and Eurozone will be published in the morning. In the future, Canada will reveal the Consumer Price Index information and the United States will provide another set of PMI reports and the New House Sales information.

Analysis of EUR/USD for 23/06/2017:

A set of various PMI information is scheduled for release throughout the early London trading session. All them are flash readings (quotes). The French PMIs (production, services, and composite) are all anticipated to beat the agreement or to be in line with expectations. The German and Eurozone PMIs are expected to beat the consensus too, so normally, a great, favorable and positive state of mind has actually dominated the European economy. In France, election has undoubtedly raised sentiment, however possible reforms could also have a negative short-term impact on the economy. Germany is still thought about a power horse for the entire Eurozone, so the German data might be more reputable because case.Let’s now have a look at the EUR/USD technical photo on the H4 timeframe. The market trades quietly within a narrow sideway zone between the levels of 1.1108 – 1.1211. The marketplace conditions are neutral, but the indication is bouncing from the oversold levels. The momentum indicator is attempting to bounce above the fifty level also. There is a possibility for a test of the nearest technical resistance at 1.1211 if the information are in line with the expectations or much better. Otherwise, the sideways price action is expected to continue till the end of the week.

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Market Photo: Gold bounces from 200 DMA After making a possible Double Leading pattern on the daily timeframe, gold reversed to the drawback and lost around $40. The price has bounced from the 200 DMA recently, just around the level of $1,240. The stochastic still reveals a possible extension of the down relocation, so the bounce may be short-lived. The next technical resistance is seen at $1,258 and the closest technical assistance lies at $1,236.

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Market Picture: USD/CAD declined at the trend

line level As prepared for earlier, the USD/CAD pair went up to check the damaged golden trend line from listed below and got rejected around the level of 1.3350. Presently, the rate went all the method to the nearest technical support at the level of 1.3210 and gradually attempts to bounce once again. The momentum sign is suggesting a weakness, so the next techncial assistance at the level of 1.3165 might be checked quickly.

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

Ichimoku sign analysis of USDX for June 23, 2017 888011000 110888 The Dollar index is weakening. Price is breaking below support and this is not a good indication. The bounce we were anticipating was shallow. If cost breaks listed below 97, we must expect more selling pressures to push the index to new monthly lows. Red line-assistance (previous resistance )Blue line -assistance The Dollar index has actually broken below both the tenkan -and kijun-sen indications. Rate is heading to Kumo(cloud)support at 97.15-97. Breaking below the 4-hour Kumo will turn trend back to bearish and will bring more sellers and push price towards 95-94. Blue lines-bearish channel The weekly cost action remains inside a bearish channel. Weekly candle got turned down at the lower Kumo( cloud)limit resistance. This rejection is not a good sign. Bulls need to make a new weekly high to remain in control and to continue to wish for a move to 98.50-99. The rejection has actually nevertheless brought a new circumstance where we see a new weekly low and after that reverse.The product has actually been offered by InstaForex Company-www.instaforex.com

By | June 23, 2017

The Dollar index is weakening. Price is breaking below support and this is not a good sign. The bounce we were expecting was shallow. If price breaks below 97, we should expect more selling pressures to push the index to new monthly lows.

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Red line – support (previous resistance)

Blue line- support

The Dollar index has broken below both the tenkan- and kijun-sen indicators. Price is heading towards Kumo (cloud) support at 97.15-97. Breaking below the 4-hour Kumo will turn trend back to bearish and will bring more sellers and push price towards 95-94.

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Blue lines – bearish channel

The weekly price action remains inside a bearish channel. Weekly candle got rejected at the lower Kumo (cloud) boundary resistance. This rejection is not a good sign. Bulls need to make a new weekly high to remain in control and to continue to hope for a move towards 98.50-99. The rejection has however brought a new scenario where we see a new weekly low and then reverse.

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

Ichimoku indicator analysis of gold for June 23, 2017 888011000 110888 Gold is making higher highs and higher lows in the 4-hour chart and is unfolding the upward turnaround we expect off the $1,245 price location. Gold is anticipated to continue the bounce to $1,260 and higher. We might see a short-term new low towards $1,230 however it is not necessary. Red line -resistance Gold rate is bouncing off the 61.8%Fibonacci retracement however stays below the red pattern line resistance andthe 4-hour Kumo(cloud). Price is above the tenkan – and kijun-sen indications and this is a short-term bullish sign that the upside might continue. Black line -long-lasting resistance Blue line -long-term assistance Gold price stays trapped inside the weekly triangle pattern. Cost got rejected once again at the long-term resistance channel.Price has actually broken out and above the weekly Kumo and has actually effectively back evaluated the Kumo(cloud)support. A break above the black trend line will be an extremely bullish signal. It is unclear however if we first check the long-term blue pattern line initially or break best away.The product has been offered by InstaForex Business -www.instaforex.com

By | June 23, 2017

Gold is making higher highs and higher lows in the 4-hour chart and is unfolding the upward reversal we expect off the $1,245 price area. Gold is expected to continue the bounce towards $1,260 and higher. We could see a short-term new low towards $1,230 but it is not necessary.

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Red line – resistance

Gold price is bouncing off the 61.8% Fibonacci retracement but remains below the red trend line resistance and the 4-hour Kumo (cloud). Price is above the tenkan- and kijun-sen indicators and this is a short-term bullish sign that the upside could continue.

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Black line -long-term resistance

Blue line – long-term support

Gold price remains trapped inside the weekly triangle pattern. Price got rejected again at the long-term resistance channel. Price has broken out and above the weekly Kumo and has successfully back tested the Kumo (cloud) support. A break above the black trend line will be a very bullish signal. It is not clear however if we first test the long-term blue trend line first or break right away.

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

Everyday analysis of significant sets for June 23, 2017 888011000 110888 EUR/USD: On Thursday, there was an upwards bounce on the EUR/USD pair in the context of a drop. The upwards bounce might end up giving an excellent short-selling signal as rate is anticipated to go downwards, reaching the support lines at 1.1150 and 1.1100. USD/CHF: This set continues to be remedied slowly lower and lower, and this has begun to posture a hazard to the recent bullish signal. The Williams ‘% Range period 20 is currently in the overbought area, and the EMA 11 is nearly crossing the EMA 56 to the drawback. By the time rates crosses the assistance level at 0.9650 to the disadvantage, the predisposition would have turned bearish. GBP/USD: The Cable also has continued to climb up upwards in the context of a downtrend.Cost would not really turn bullish till it goes above the circulation area at 1.2900, which would require a serious bullish motion. On the other hand, rate might eventually drop from here, supporting the current dominant bearish bias. USD/JPY: There has been nothing significant on this market considering that yesterday, given that it is normallyquiet now. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50, which implies that the predisposition remains bullish. When the RSI period 50 goes below the level 50, it would caution of a trend turnaround. EUR/JPY: This cross has not done anything considerable today. A movement above the supply zone at 125.00 would result in a tidy Bullish Confirmation Pattern, while a movement below the demand zone at 123.00 would result in a Bearish Confirmation Pattern. This is the scenario that is expected to take place early next week, because rate may not do anything major today. The product has actually been supplied by InstaForex Company- www.instaforex.com

By | June 23, 2017

EUR/USD: On Thursday, there
was an upwards bounce on the EUR/USD pair in the context of a downtrend. The
upwards bounce could end up giving a good short-selling signal as price is
expected to go downwards, reaching the support lines at 1.1150 and 1.1100.

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USD/CHF: This pair continues
to be corrected gradually lower and lower, and this has begun to pose a threat
to the recent bullish signal. The Williams’ % Range period 20 is already in the
overbought region, and the EMA 11 is almost crossing the EMA 56 to the
downside. By the time prices crosses the support level at 0.9650 to the downside,
the bias would have turned bearish.

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GBP/USD: The Cable also has
continued to climb upwards in the context of a downtrend. Price would not really
turn bullish until it goes above the distribution territory at 1.2900, which
would require a serious bullish movement. On the other hand, price may
eventually drop from here, supporting the current dominant bearish bias.

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USD/JPY: There has been nothing significant on this market since yesterday, since it is generally quiet
now. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level
50, which means that the bias remains bullish. Once the RSI period 50 goes
below the level 50, it would warn of a trend reversal.

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EUR/JPY: This cross has not
done anything significant this week. A movement above the supply zone at 125.00
would result in a clean Bullish Confirmation Pattern, while a movement below
the demand zone at 123.00 would result in a Bearish Confirmation Pattern. This
is the scenario that is supposed to happen early next week, since price may not
do anything serious today.

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