Category Archives: Quick Forex

Elliott Wave Ananlysis of EUR/JPY for July 21, 2017 888011000 110888 < imgwidth=”450″src =”http://qkfx.com/wp-content/uploads/2017/07/elliott-wave-ananlysis-of-eurjpy-for-july-21-2017.png”alt =” analytics5971d7f7d6ce2.png”/ > Wave summary: The corrective structure has actually shifted in favor of a flat correction. Short-term, we expecte resistance at 130.77 will have the ability to top the benefit for a lastleg lower to support at 127.22 to finish the flat correction in wave iv and then move higher towards 133.46 in wave v. Trading recommendation: Our stop at 129.70 was pinched hit a little earnings of just 10 pips. We will offer EUR here at 129.88 with stop+revers at 130.80 and take revenue put at 127.50. The material has actually been provided by InstaForex Company-www.instaforex.com

By | July 21, 2017

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Wave summary:

The corrective structure has shifted in favor of a flat correction. Short-term, we expecte resistance at 130.77 will be able to cap the upside for a final leg lower to support at 127.22 to complete the flat correction in wave iv and then move higher towards 133.46 in wave v.

Trading recommendation:

Our stop at 129.70 was hit for a small profit of only 10 pips. We will sell EUR here at 129.88 with stop+revers at 130.80 and take profit placed at 127.50.

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

Day-to-day analysis of major sets for July 21, 2017 888011000 110888 EUR/USD: On the EUR/USD pair, bulls are clear winners today. Cost has already exceeded the multi-month high at 1.1600 (which was our ultimate target for the week). Considering that there is a strong Bullish Verification Pattern in the market, rate would continue going even more up-wards till it reaches the resistance line at 1.1700. USD/CHF: This set has fallen by 140 pips this week, now testing the assistance level at 0.9500. The support level would quickly be breached to the downside as rate targets another assistance levels at 0.9450 and 0.9400. The bias on the marketplace is highly bearish. Thus, long trades are not suggested at this time. GBP/USD: In spite of the combination to the drawback, which has been seen so far today, there is still hope of a more bullish movement in this market. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. An additional bullish movement might be seen from here. USD/JPY: There is a Bearish Verification Pattern in the USD/JPY 4-hour chart. Owing to the weakness of USD, the EMA 11 has crossed the EMA 56 to the drawback. About 270 pips have been given up given that July 11, and it is expected that the marketplace would continue to go a growing number of bearish, reaching the demand levels at 111.50 and 111.00. EUR/JPY: The only factor that avoids this cross pair from coming downwards is the endurance in EUR itself. The bulls have held out up until now, and the bias would continue to be bullish as long as EUR is strong. The next targets for the bulls lie at supply levels at 130.00 and 130.50. The product has actually been offered by InstaForex Company- www.instaforex.com

By | July 21, 2017

EUR/USD: On the EUR/USD pair, bulls are clear winners this week. Price has already gone above the multi-month high at 1.1600 (which was our ultimate target for the week). Since there is a strong Bullish Confirmation Pattern in the market, price would continue going further upwards until it reaches the resistance line at 1.1700.

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USD/CHF: This pair has fallen
by 140 pips this week, now testing the support level at 0.9500. The support
level would soon be breached to the downside as price targets another support
levels at 0.9450 and 0.9400. The bias on the market is strongly bearish. Thus, long trades are not recommended at this time.

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GBP/USD: In spite of the
consolidation to the downside, which has been witnessed so far this week, there
is still hope of a further bullish movement in this market. The EMA 11 is above the
EMA 56, and the RSI period 14 is above the level 50. A further bullish movement
might be witnessed from here.

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USD/JPY: There is a Bearish
Confirmation Pattern in the USD/JPY 4-hour chart. Owing to the weakness of USD,
the EMA 11 has crossed the EMA 56 to the downside. About 270 pips have been
given up since July 11, and it is expected that the market would continue to go
more and more bearish, reaching the demand levels at 111.50 and 111.00.

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EUR/JPY: The only factor that prevents this cross pair from coming downwards is the stamina in EUR itself.
The bulls have held out so far, and the bias would continue to be bullish as long
as EUR is strong. The next targets for the bulls are located at supply levels
at 130.00 and 130.50.

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

Technical analysis of GBP/JPY for July 21, 2017 888011000 110888 Our target which we anticipated in the other day’s analysis has actually been struck. GBP/JPY is still under pressure. The pair is rebounding and has broken above its decreasing 20-period moving average. The relative strength index is above its neutrality level at 50. 145.70 is playing an essential resistance function, which ought to restrict the upside potential. As long as 145.70 holds on the upside, anticipate a go back to 144.10. A break below this level would require an additional decrease towards 143.20. Additionally, if the cost relocations in the opposite direction as predicted, a long position is advised above 145.70 with the target at 146.25. Chart Explanation: the black line reveals the pivot point. The price above pivot point indicates the bullish position when it is listed below pivot points, it suggests a brief position. The red lines reveal thesupport levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.Strategy: SELL,Stop Loss: 145.70, Take Profit: 144.10. Resistance levels: 146.25, 146.70, and 147.15 Support levels : 144.10, 143.20, and 142.45. The product has been provided by InstaForex Business-www.instaforex.com

By | July 21, 2017

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Our target which we predicted in yesterday’s analysis has been hit. GBP/JPY is still under pressure. The pair is rebounding and has broken above its declining 20-period moving average.

The relative strength index is above its neutrality level at 50. Nevertheless, 145.70 is playing a key resistance role, which should limit the upside potential.

As long as 145.70 holds on the upside, expect a return to 144.10. A break below this level would call for a further decline towards 143.20.

Alternatively, if the price moves in the opposite direction as predicted, a long position is recommended above 145.70 with the target at 146.25.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: SELL, Stop Loss: 145.70, Take Profit: 144.10.

Resistance levels: 146.25, 146.70, and 147.15

Support levels: 144.10, 143.20, and 142.45.

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

Technical analysis of NZD/USD for July 21, 2017 888011000 110888 Both of our targets have been struck which we forecasted in the other day’s analysis. NZD/USD is still anticipated to trade in a higher range as the pair is trading above the trend line. The pair accelerated on the advantage after breaking above the upper boundary of the bearish channel. The upward momentum is more reinforced by the rising 20-periodand 50-period moving averages. The relative strength index is bullish and requires additional advance. As long as 0.7380 holds on the disadvantage, look for a brand-new advance to 0.7470 and even to 0.7500 in extension. Method: BUY Stop Loss: 0.7380 Take Revenue: 0.7470 Chart Description: The black line shows the pivot point. Currently, the cost is above the pivot point which shows the bullish position. If it is listed below the pivot points, it shows the short position. The red lines reveal the assistance levels and the green line suggests the resistance levels. These levels can be used to enter and leave trades.Resistance levels: 0.7470, 0.7500, and 0.7545 Support levels: 0.7360, 0.7330, and 0.7285 The material has been provided by InstaForex Company-www.instaforex.com

By | July 21, 2017

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Both of our targets have been hit which we predicted in yesterday’s analysis. NZD/USD is still expected to trade in a higher range as the pair is trading above the trend line. The pair accelerated on the upside after breaking above the upper boundary of the bearish channel. The upward momentum is further reinforced by the rising 20-period and 50-period moving averages. The relative strength index is bullish and calls for further advance.

Hence, as long as 0.7380 holds on the downside, look for a new advance to 0.7470 and even to 0.7500 in extension.

Strategy: BUY Stop Loss: 0.7380 Take Profit: 0.7470

Chart Explanation:

The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7470, 0.7500, and 0.7545

Support levels: 0.7360, 0.7330, and 0.7285

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

Global macro overview for 21/07/2017

By | July 21, 2017

Worldwide macro introduction for 21/07/2017: The dovish remarks from Deputy Guv of the Reserve Bank of Australia (RBA) Person Debelle had an impact on the Australian Dollar. Debelle urged the marketplaces not to read too much into the board’s conversation on the neutral rate. He stated that “no significance must be read into the truth the neutral rate was talked about at this particular conference” and “most meetings, the board allocates some time to talking about a policy-relevant concern in more information, and on this occasion, it was the neutral rate”. He also stressed that “other central banks increase their policy rates does not automatically imply that the policy rate here has to increase”. At the end he included, that the rising Australian Dollar is making complex the economy’s modification, so appreciation of AUD is not welcome, regardless of the truth, that current information has actually provided the RBA a bit more confidence in the economy.

The current financial information from Australia was much better than anticipated. The joblessness rate is low, full-time employment is increasing, incomes are on the rice together with the inflationary pressures which are way above the RBA forecasts. In this scenario, an additional improvement of the financial conditions might encourage the Reserve Bank of Australia to change the course of financial policy, so it may start to indicate a determination to increase the rates of interest sooner than global financiers anticipate. This will in return trigger an appreciation of the Australian Dollar throughout the board, however, this is not that much welcome inning accordance with Debelle.

Let’s now have a look at the AUD/USD technical image after the press release. Debelle’s comments started a pullback from the recent highs at the level of 0.7988 and it appears like the market wishes to evaluate the technical assistance at the level of 0.7838. The overbought market conditions and clear bearish divergence assistance this view.

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

Trading plan 07/21/2017

By | July 21, 2017

The general picture: Trend against the dollar.The centerpiece of the week was the ECB was maintained.

ECB President Draghi recognized that the EU is growing more with confidence, nevertheless, the inflation is still too low and development is inadequate. It doubts if the EURUSD revealed robust development following the choice of the ECB. Based upon the fundamental analysis for novice traders, the current upward movement of the euro is irregular.

The only sensible description is that the euro is being purchased because the market gamers believe that the euro is underestimated to the dollar.

When all the risks lag, the euro remembers in the previous years, throughout 2009 to 2013, the average of the EUR/ USD had to do with 1.3000 and from this viewpoint, the euro could have a growth potential of up to 1.3000.

In addition, the growth pattern of the euro moves constantly in 4.5 months in a row (!).

EURUSD

Pattern upward.

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GBPUSD Purchases with a target of 1.3140. USDCHF Sales from the rebound up. USDJPY Purchases with a target of 114.40(below 110.30

-cancellation of purchases). The product has actually been offered by InstaForex Company-www.instaforex.com

Euro and the Pound Remain Favorites

By | July 21, 2017

Eurozone

Today, the ECB will hold a regular meeting on monetary policy, at the minute heightened unpredictability stays on its outcome.

The ECB has just one vital reason for refining from finishing the alleviating program.

Partial profit-taking prior to the conference helped to decrease prices to 1.15, however the possibility of resuming development stays at a high level.

UK

The level of customer inflation dropped for the first time because April 2016, but stays at a high level.

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The British economy was a lot more resistant than forecasted in spite of Brexit, however signs of a downturn in GDP development are ending up being clearer. Growth in the very first quarter was only 0.2%, this is the worst arise from all of the EU countries, while the second quarter was a little much better. The main reason is a drop in private usage, the weak pound adding to an increase in import prices, and a low small boost in typical earnings coupled with high inflation which caused real earnings ending up being negative for the first time given that 2014.

Will the Bank of England choose to raise the rate under these conditions? There are arguments in favor of this choice. In specific, inflation is still higher and joblessness is lower than forecasted back in May. There is no unity amongst BoE officials. In particular, in June, 3 of the 8 committee members chose an immediate rate hike and Bank of England chief financial expert Andrew Haldane said he will likely join the hawks.

Therefore, the pound remains highly uncertain. Large banks offer opposite scenarios. In particular, Commerzbank anticipates the decline of the GBPUSD to 1.2880. On the other hand, Lloyds expects a development to 1.34. The mood of investors might depend upon the report on retail sales in May, the forecasts of experts are positive, as the data can support the pound in the short term.

Oil and ruble

The reduction in business oil reserves by 4.7 million barrels, according to the API, has actually added to the development in oil prices.

Oil supplies assistance to the Russian currency. In addition, a number of factors add to the fortifying of the ruble. The Ministry of Finance announced that it does not plan to hinder the growth of the ruble and will not raise the volume of currency purchases. In addition, a variety of big business will carry out tax and dividend payments in the coming weeks. The ruble under these conditions will strengthen and might reach 57 rubles per dollar in the start of next week.

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

Technical analysis of USDX for July 21, 2017 888011000 110888 The Dollar index remains in a bearish trend in all timespan. Rate made a brand-new lower low today as its primary element EUR/USD is rallying. The Dollar index has actually now reached our second target of 94. Blue lines- bearish channel The Dollar index is trading inside the bearish channel. Price is right on top of the lower channel border. RSI(5)is oversold and diverging. The RSI(14) is diverging. Support is here at 94. Resistance is at 94.40. , if broken we might see a push greater to 94.70-94.80.. Blue lines- bearish channel The Dollar index stays inside the everyday bearish channel and is clearly in a bearish pattern as rate continues to make lower lows and lower highs. Daily resistance is at 95.10 and next at 96. A short-term bounce towards 95-95.50 is warranted from current levels but its counter pattern so trading it would not be preferred.The product has actually been supplied by InstaForex Company -www.instaforex.com

By | July 21, 2017

The Dollar index remains in a bearish trend in all time frames. Price made a new lower low today as its main component EUR/USD is rallying. The Dollar index has now reached our second target of 94.

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Blue lines – bearish channel

The Dollar index is trading inside the bearish channel. Price is right on top of the lower channel boundary. RSI (5) is oversold and diverging. The RSI (14) is diverging. Support is here at 94. Resistance is at 94.40. If broken we could see a push higher towards 94.70-94.80.

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Blue lines – bearish channel

The Dollar index remains inside the daily bearish channel and is clearly in a bearish trend as price continues to make lower lows and lower highs. Daily resistance is at 95.10 and next at 96. A short-term bounce towards 95-95.50 is justified from current levels but its counter trend so trading it would not be preferred.

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

Technical analysis of gold for July 21, 2017 888011000 110888 Gold price held the $1,235 support yesterday and has broken to new short-term highs. Cost is trading simply below $1,250 and our target of $1,260 is very close. Pattern is bullish. Gold price is trading above both the tenkan-and kijun-sen signs. Pattern is bullish in the 4 hour chart.Cost held above short-term support at $ 1,235 yesterday regardless of the preliminary selling pressures. Cost made a new greater high confirming bullish trend. Daily Gold remains in a bearish trend as cost stays below the Kumo(cloud). Resistance is at $1,250-60 location. This was our minimum target area and we are approaching as planned. Gold might see some sellers here and a pull back. Taking partial revenues is preferred.The material has actually been provided by InstaForex Company-www.instaforex.com

By | July 21, 2017

Gold price held the $1,235 support yesterday and has broken to new short-term highs. Price is trading just below $1,250 and our target of $1,260 is very close. Trend is bullish.

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Gold price is trading above both the tenkan- and kijun-sen indicators. Trend is bullish in the 4 hour chart. Price held above short-term support at $1,235 yesterday despite the initial selling pressures. Price made a new higher high confirming bullish trend.

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On a daily basis Gold remains in a bearish trend as price remains below the Kumo (cloud). Resistance is at $1,250-60 area. This was our minimum target area and we are approaching as planned. Gold may see some sellers here and a pull back. Taking partial profits is preferred.The material has been provided by InstaForex Company – www.instaforex.com

Trading prepare for 21/07/2017

By | July 21, 2017

Trading prepare for 21/07/2017: Lower volatility was noted during the Asian session. EUR/USD stays in a narrow day-to-day range just listed below yesterday’s long-term highs and is presently at 1.1635. GBP/USD is checking a strong resistance at 1.300 level. USD/JPY after yesterday’s decline to 111.50 fights back over 112.00 level. The S&P 500 index reached yesterday traditionally the highest levels around 2,475 points and

currently remains in a narrow pullback cycle.On Friday 21st of July, the occasion calendar is light in essential data releases, but some intriguing information from Canada will be released later on in the day: Consumer Price Index and Core CPI and Retail Sales.USD/ CAD analysis for 21/07/2017:

The inflation information from Canada are the most important data release for today and are arranged at 12:30 pm GMT. Market participants expect the Customer Price Index to reduce from 0.1% to -0.1% on a monthly basis and from 1.3% to 1.1% on a yearly basis. The current remarks from the Bank of Canada suggest a possible rate of interest hike prior to the end of 2017, so monetary markets will take today’s bunch of data of the Canadian CPI and retail sales to see whether data supports tighter financial policy in Canada. If the information beats the agreement, then the marketplaces might get back at more specific that the rate of interest hike is on the table that will inflate the Canadian Dollar across the board.Let’s now take a look at the USD/CAD technical photo. The market fell out of a parallel downward channel a long time earlier and now is trying to evaluate the 2016 low at the level of 1.2459. The last down leg was developed in the narrow channel as well, mainly due to significantly oversold market conditions. In this circumstance, any information even worse than excepted may cause a short-lived counter- trend bounce to the level of 1.2682 and 1.2770. Otherwise, the marketplace is on an excellent way to spike down to the 1.2459 support prior to any substantial pullback will happen.

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Market Photo: EUR/AUD

breaks out above resistance The price of EUR/AUD set has broken above the technical resistance at the level of 1.4629 and now is aiming to test the next technical resistance at the level of 1.2782. The marketplace is bouncing from the oversold levels as well, but the momentum indication is still listed below the fifty level. Any violation of this level will open the road towards the 1.5082 high.

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Market Photo: EUR/GBP near to the next resistance The rate of EUR/GBP has broken above the variety zone between the level of 0.8754 – 0.8898 and violated the regional high at the level of 0.8949 (now support). Presently, the bulls are trying to check another technical resistance at the level of 0.9026 and the increasing momentum sign supports this view.

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