Category Archives: Quick Forex

General summary for 02/12/2016:

The impulsive cycle in wave (iii) (green) is finished, so now a bigger correction in wave (iv) (green) is expected. The pattern prepared for in wave four is a triangle, however the correction may develop into more intricate structure. No signs of any kind of a trend turnaround yet as there is still one more wave of a higher degree to be completed prior to the existing spontaneous wave progression is terminated.

Support/Resistance:122.07 – WR2

121.90 – Intraday Resistance

121.16 – WR1

120.82 – Intraday Assistance

119.23 – Weekly Pivot

118.32 – WS1

116.37 – WS2

Trading recommendations:

The TP at the level of 121.16 has been hit and all buy orders ought to be closed with revenue. Currently, the daytraders should avoid trading and await a much better trading setup to occur quickly.

analytics5841582072447.jpg

The product has been offered

by InstaForex Company –< a href='https://www.instaforex.com/?x=IHCU' > www.instaforex.com

By | December 2, 2016

General overview for 02/12/2016:

The impulsive cycle in wave (iii) (green) is completed, so now a larger correction in wave (iv) (green) is anticipated. The pattern anticipated in wave four is a triangle, but the correction might evolve into more complex structure. No signs of any kind of a trend reversal yet as there is still one more wave of a higher degree to be completed before the current impulsive wave progression is terminated.

Support/Resistance:

122.07 – WR2

121.90 – Intraday Resistance

121.16 – WR1

120.82 – Intraday Support

119.23 – Weekly Pivot

118.32 – WS1

116.37 – WS2

Trading recommendations:

The TP at the level of 121.16 has been hit and all buy orders should be closed with profit. Currently, the daytraders should refrain from trading and wait for a better trading setup to occur shortly.

analytics5841582072447.jpg

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

GBP/USD at major resistance, time to offer

By | December 2, 2016

Price is seeing major resistance at 1.2685 (Fibonacci forecast, horizontal pullback resistance, previous swing high, Fibonacci retracement) and we anticipate a drop from this level to 1.2303.

Stochastic (21,5,3) is seeing significant resistance at 94% where we anticipate a drop from.RSI (34)is seeing significant resistance at 70 %where we anticipate a comparable drop from.Sell below 1.2685. Stop loss at 1.2894.

Take earnings at 1.2303. The product has actually been offered by InstaForex Business- www.instaforex.com

Eurozone PPI Rises More Than Expected In October

By | December 2, 2016

Eurozone producer prices rose for the second straight month in October, and at a faster-than-expected pace, figures from Eurostat showed Friday.

Industrial producer prices climbed 0.8 percent month-over-month in October, exceeding economists’ expectations for an increase of 0.4 percent. That was also faster than the 0.1 percent slight rise in September.

Excluding energy, producer prices edged up at a stable rate of 0.1 percent in October from a month ago. Prices in the energy sector alone grew by 2.6 percent.

On an annual basis, producer prices fell at a slower pace of 0.4 percent in October, following a 1.5 percent decline in September. It was forecast to decrease by 1.0 percent.

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

Euro Little Changed After Eurozone PPI

By | December 2, 2016

Following the release of Eurozone producer prices for September at 5:00 am ET Friday, the euro changed little against its major counterparts.

The euro was trading at 1.0643 against the greenback, 121.09 against the yen, 0.8442 against the pound and 1.0761 against the franc around 5:05 am ET.

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

Technical analysis of USD/CHF for December 02, 2016 888011000 110888
USDCHFH1.png

Summary: The USD/CHF set motion was mixed as it happened in a narrow sideways channel for

  • a while. There are no changes in our technical outlook. The marketplace revealed indications of instability when it reached
  • the top of 1.0191. Amidst the previous events, the cost is still moving between the levels of 1.0054
  • and 1.0191. The day-to-day resistance and assistance are seen at the levels of 1.0191 and 1.0054 respectively.
  • In consequence, it is suggested to be careful while putting orders in this location. We ought to wait till the sideways channel has actually completed.
  • On the H4 chart, the price area of 1.0191 stays a considerable resistance zone. There is a possibility that the USD/CHF pair will move
  • to the disadvantage and the fall structure does not look restorative. Resistance is seen at the level
  • of 1.0191 today. Offer listed below 1.0191 with the first target at 1.0100. In overall, we still prefer the bearish situation as
  • long as the price is listed below the level of 1.0191. Furthermore, if the USD/CHF pair has the ability to break out
  • the bottom at 1.0100, the market will decrease even more to 1.0053. On the other hand, if a breakout takes place at the resistance level of 1.0230, then this circumstance might become invalidated. Remember toposition a stop loss; it should be set listed below the 2nd assistance of 1.0260. The product has been supplied by InstaForex Company- www.instaforex.com
  • By | December 2, 2016

    USDCHFH1.png

    Overview:

    • The USD/CHF pair movement was mixed as it took place in a narrow sideways channel for a while.
    • There are no changes in our technical outlook. The market showed signs of instability when it reached the top of 1.0191.
    • Amid the previous events, the price is still moving between the levels of 1.0054 and 1.0191.
    • The daily resistance and support are seen at the levels of 1.0191 and 1.0054 respectively.
    • In consequence, it is recommended to be cautious while placing orders in this area.
    • We should wait until the sideways channel has completed. On the H4 chart, the price spot of 1.0191 remains a significant resistance zone.
    • Therefore, there is a possibility that the USD/CHF pair will move to the downside and the fall structure does not look corrective.
    • Resistance is seen at the level of 1.0191 today. So, sell below 1.0191 with the first target at 1.0100.
    • In overall, we still prefer the bearish scenario as long as the price is below the level of 1.0191.
    • Furthermore, if the USD/CHF pair is able to break out the bottom at 1.0100, the market will decline further to 1.0053.
    • On the other hand, if a breakout takes place at the resistance level of 1.0230, then this scenario may become invalidated. Remember to place a stop loss; it should be set below the second support of 1.0260.

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

    Technical analysis of NZD/USD for December 02, 2016 888011000 110888 Introduction: The NZD/USD pair continues to move down listed below the level of 0.7178. Yesterday, the set dropped from the level of 0.7138 down around 0.7073. Today, the first resistance level is seen at 0.7136 followed by 0.7187, while everyday assistance 1 lies at 0.7021. According to the previous occasions, the NZD/USD set is still moving between the levels of 0.7136 and 0.7021. For that reason, we expect the cost to move in the variety in between 0.7136 and 0.7021. For this reason, if the NZD/USD set fails to break through the resistance level of 0.7136, the market will decrease further to the levels of 0.7050 and 0.7021. There are no modifications to our technical outlook. The predisposition remains bearish in the closest term, evaluating the 0.7021 level or lower. Because the RSI indication is still in a positive area and does not show any trend-reversal indications, this would suggest a bearish market. The pair is anticipated to drop lower to a minimum of 0.6971 with a view to evaluate the double bottom on the H4 time frame. On the contrary, if a breakout takes place at the resistance level of 0.7187(major resistance), then this scenario may become revoked. The product has actually been provided by InstaForex Company- www.instaforex.com

    By | December 2, 2016

    NZDUSDH4.png

    Overview:

    • The NZD/USD pair continues to move downwards below the level of 0.7178. Yesterday, the pair dropped from the level of 0.7138 to the bottom around 0.7073. Today, the first resistance level is seen at 0.7136 followed by 0.7187, while daily support 1 lies at 0.7021. According to the previous events, the NZD/USD pair is still moving between the levels of 0.7136 and 0.7021. Therefore, we expect the price to move in the range between 0.7136 and 0.7021. Hence, if the NZD/USD pair fails to break through the resistance level of 0.7136, the market will decline further to the levels of 0.7050 and 0.7021. There are no changes to our technical outlook. The bias remains bearish in the nearest term, testing the 0.7021 level or lower.
      This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.6971 with a view to test the double bottom on the H4 time frame. On the contrary, if a breakout takes place at the resistance level of 0.7187 (major resistance), then this scenario may become invalidated.
    NZDUSDH1.png

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

    Technical analysis of USDX for December 2, 2016 888011000 110888 The Dollar index is weakening and evaluating short-term support at 100.70. With NFP numbers announced today traders must be extremely cautious as if the economy beats the marketplace expectations we might have the much anticipated third drive higher towards 102.50 to complete the upward cycle. Blue line-assistance pattern line The Dollar index has support at 100.70-100.80. Cost is under pressure as we break listed below the 4-hour cloud support. This is an important support location. So aclear break listed below 100.70 could signify that the top remains in for the Dollar index. Otherwise, if support is held we ought to anticipate new highs to be seen near 102.50. With oscillators overbought and the weekly candle showing turnaround indications, Dollar bulls have to be really mindful. The weekly candle could change to bullish after the NFP announcement later on today. Volatility is expected to rise today and traders need to be patient.The product has been provided by InstaForex Business- www.instaforex.com

    By | December 2, 2016

    The Dollar index is weakening and testing short-term support at 100.70. With NFP numbers announced today traders should be very cautious as if the economy beats the market expectations we could have the much anticipated third drive higher towards 102.50 to complete the upward cycle.

    analytics58412ef12debf.jpg

    Blue line – support trend line

    The Dollar index has support at 100.70-100.80. Price is under pressure as we break below the 4-hour cloud support. This is an important support area. So a clear break below 100.70 could signal that the top is in for the Dollar index. Otherwise, if support is held we should expect new highs to be seen near 102.50.

    analytics58412feed091b.jpg

    With oscillators overbought and the weekly candle showing reversal signs, Dollar bulls need to be very cautious. However, the weekly candle could change to bullish after the NFP announcement later today. Volatility is expected to rise today and traders should be patient.

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

    <aTechnical analysis of gold for December 2, 2016 888011000 110888 Gold remains in a bottoming process and inside the bearish short-term channel, with no verification yet of a trend turnaround. Could the NFP numbers revealed today be the reason to start the reversal? Perhaps, in any case Gold bulls need to be patient. Black lines -bearish channel Gold rate bounced off the lower channel border. Price is evaluating short-term resistance at$ 1,180 where the 4-hour kijun-sen is discovered. Cost remains listed below the Ichimoku cloud. An exit above the channel and the cloud will be the first essential bullish reversal. So bulls have to break above$1,200 to validate breakout and pattern turnaround. Nothing brand-new on a weekly level. Rate is at crucial long-lasting support and ought to reverse greater from present levels. Gold is expected to make an essential long-term low and start a new up trend towards new highs above$1,375. The product has been offered by InstaForex Company – www.instaforex.com

    By | December 2, 2016

    Gold remains in a bottoming process and inside the bearish short-term channel, without any confirmation yet of a trend reversal. Could the NFP numbers announced today be the reason to start the reversal? Maybe, either way Gold bulls need to be patient.

    analytics58412dfbe014e.jpg

    Black lines – bearish channel

    Gold price bounced off the lower channel boundary. Price is testing short-term resistance at $1,180 where the 4-hour kijun-sen is found. Price remains below the Ichimoku cloud. An exit above the channel and the cloud will be the first important bullish reversal. So bulls need to break above $1,200 to confirm breakout and trend reversal.

    analytics58412e54bab3d.jpg

    Nothing new on a weekly level. Price is at important long-term support and should reverse higher from current levels. Gold is expected to make a very important long-term low and start a new up trend towards new highs above $1,375.The material has been provided by InstaForex Company – www.instaforex.com

    Elliott wave analysis of EUR/NZD for December 2, 2016 888011000 110888 Wave summary: The ending diagonal can be finished with the new low at 1.4801 but to validate that, a break above the small resistance at 1.5094 and more importantly a break above a resistance at 1.5121 will be required. As long as the small resistance at 1.5094 caps the advantage, the possibility of onemore decrease closer to 1.4728 remains prior to the ending diagonal lastly finishes and a rally back to the origin of the ending diagonal at 1.5839 starts. Trading suggestion: We will buy EUR at 1.4750 or upon a break above 1.5095. The product has been offered by InstaForex Business- www.instaforex.com

    By | December 2, 2016

    analytics58410f994a67c.png

    Wave summary:

    The ending diagonal can be completed with the new low at 1.4801 but to confirm that, a break above the minor resistance at 1.5094 and more importantly a break above a resistance at 1.5121 will be needed.

    As long as the minor resistance at 1.5094 caps the upside, the possibility of one more decline closer to 1.4728 remains before the ending diagonal finally completes and a rally back to the origin of the ending diagonal at 1.5839 starts.

    Trading recommendation:

    We will buy EUR at 1.4750 or upon a break above 1.5095.

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

    Elliott wave analysis of EUR/JPY for December 2, 2016 888011000 110888 Wave summary: A test of the pitchfork resistance-line near 121.95 is now being seen. This is close to the(iv )top at 122.00 seen on June 23. Preferably a small spike just above 122.00 will be seen, however we have gotten in an area, from where a wave (iv)correction towards a minimum of 119.76 and most likely closer to the 38.2 %corrective target at 118.39 could be seen anytime now. We are only looking for a correction in wave(iv). As the correction in wave(ii)was a simple zig-zag, wave (iv)ought to turn into some sort of flat correction or a triangle combination providing us more of a sideways trading area.Trading recommendation: We are short EUR from 121.85 with stop put at 122.85. If you are not short EUR yet, then sell near 122.00 or upon a break listed below 121.54 and utilize the exact same stop at 122.85. The material has actually been provided by InstaForex Company- www.instaforex.com

    By | December 2, 2016

    analytics58410e701b98e.png

    Wave summary:

    A test of the pitchfork resistance-line near 121.95 is now being seen. This is close to the (iv) top at 122.00 seen on June 23. Ideally a small spike just above 122.00 will be seen, but we have entered an area, from where a wave (iv) correction towards at least 119.76 and more likely closer to the 38.2% corrective target at 118.39 could be seen anytime now.

    We are only looking for a correction in wave (iv). As the correction in wave (ii) was a simple zig-zag, wave (iv) should turn into some kind of flat correction or a triangle consolidation giving us more of a sideways trading area.

    Trading recommendation:

    We are short EUR from 121.85 with stop placed at 122.85. If you are not short EUR yet, then sell near 122.00 or upon a break below 121.54 and use the same stop at 122.85.

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