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GBP/JPY Basic Analysis March 15, 2017 888011000 110888 GBP/JPY has actually been in a down corrective structure considering that January 2017 and is still above the support location of 136.40-138.50. With blended price action and combined principles, both currencies in the pair have actually never been with complete pressure, though JPY is in some way managing to pick up speed versus GBP with a consistent corrective climb. Today, Japan released the modified industrial production report which was anticipated to be at -0.8% however can be found in at -0.4% which positively impacted the set today. On the other hand, GBP had a typical earning index report. The index was anticipated to be at 2.4% however was published at 2.2% having a negative impact on the pair. Nevertheless, a complaintant count change report was favorable with -11.3 k which was anticipated to be at 3.2 k. Currently due to blended influence of the basic reports the scenario on the chart i.e. corrective structure is most likely to stay the very same for couple of more days.Now let uslook at the pair from the technical viewpoint. The price is in a down corrective relocation, heading towards the support area of 136.40-138.50. Up until the lowest support at 136.40 is secured, we can not expect an impulsive selling pressure in this set. On the other hand, if the price bounces off from the support location, the cost will still be in the corrective structure until the cost breaks above 145. Till the rate breaks above 145, we will stick to the bearish scenario. The material has been offered by InstaForex Company -www.instaforex.com

By | March 15, 2017

GBP/JPY has been in a downward corrective structure since January 2017 and is still above the support area of 136.40-138.50. With mixed price action and mixed fundamentals, both currencies in the pair have never been with full pressure, though JPY is somehow managing to gain ground against GBP with a steady corrective climb. Today, Japan released the revised industrial production report which was expected to be at -0.8% but came in at -0.4% which positively affected the pair today. On the other hand, GBP had an average earning index report. The index was expected to be at 2.4% but was posted at 2.2% having a negative effect on the pair. However, a claimant count change report was positive with -11.3k which was expected to be at 3.2k. Currently due to mixed influence of the fundamental reports the situation on the chart i.e. corrective structure is likely to remain the same for few more days.

Now let us look at the pair from the technical viewpoint. The price is in a downward corrective move, heading towards the support area of 136.40-138.50. Until the lowest support at 136.40 is taken out, we cannot expect an impulsive selling pressure in this pair. On the other hand, if the price bounces off from the support area, the price will still be in the corrective structure until the price breaks above 145. Until the price breaks above 145, we will stick to the bearish scenario.

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

Daily analysis of GBP/JPY for March 15, 2017 888011000 110888 Introduction The GBP/JPY set cannot breach the moving typical 55 level which forms a challenge at 140.30 for more rally. The chart above programs us the stability of the price above the support at 138.75. We expect formation of the intraday sideways change till the pair collects bullish momentum and handles to go beyond the moving average 55 and reach the waited favorable targets at 141.40 and 142.50. If the price declines listed below 138.75, it will come under unfavorable pressure again and move lower to 137.60 initially and then to 136.40. The expected trading range for today is between 138.80 and 141.40. The material has been offered by InstaForex Business-www.instaforex.com

By | March 15, 2017

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Overview

The GBP/JPY pair failed to breach the moving average 55 level which forms an obstacle at 140.30 for further rally. The chart above shows us the stability of the price above the support at 138.75. Therefore, we expect formation of the intraday sideways fluctuation until the pair gathers bullish momentum and manages to surpass the moving average 55 and reach the waited positive targets at 141.40 and 142.50. If the price declines below 138.75, it will come under negative pressure again and move lower towards 137.60 at first and then to 136.40. The expected trading range for today is between 138.80 and 141.40.

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

Daily analysis of gold for March 15, 2017 888011000 110888 Overview Gold cost changes near$ 1,200.00 level, and we are still waiting for the rally greater to breach $1,211.30 level and confirm continuation of the anticipated bullish pattern on the intraday and short-term basis. The first advantage target lies at $1,231.13. In general, we will keep our positive expectations for today unless the rate breaks the level of$ 1,195.28 and holds below it. In this case gold will suffer more losses and may decline to$1,197.26 before making any brand-new attempts to rise. The anticipated trading range for today is between$1,195.28 assistance and$1,215.00resistance. The material has been provided by InstaForex Business-www.instaforex.com

By | March 15, 2017

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Overview

Gold price fluctuates near $1,200.00 level, and we are still waiting for the rally higher to breach $1,211.30 level and confirm continuation of the expected bullish trend on the intraday and short-term basis. The first upside target lies at $1,231.13. In general, we will keep our positive expectations for today unless the price breaks the level of $1,195.28 and holds below it. In this case gold will suffer more losses and may decline to $1,197.26 before making any new attempts to rise. The expected trading range for today is between $1,195.28 support and $1,215.00 resistance.

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

EUR/USD remains bullish above strong assistance

By | March 15, 2017

We remain bullish above 1.0600 assistance( Fibonacci retracement, horizontal overlap assistance)for a bounce approximately a minimum of 1.0715 resistance(Fibonacci extension, Fibonacci retracement, current swing high resistance).

Stochastic (21,5,3) is seeing assistance at 5% where we expect a bounce from. We can likewise see a bit of bullish divergence vs rate signalling a bullish turnaround is impending.

Purchase above 1.0600. Stop loss at 1.0568. Take earnings at 1.0715.

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

USD/JPY stays bullish for a push up

By | March 15, 2017

We remain bullish planning to play the intermediate bounce up from 114.70 assistance(Fibonacci retracement, horizontal overlap assistance) for a rise to 115.48 resistance (long term resistance, Fibonacci extension).

Stochastic (21,5,3) is bouncing off perfectly from, our 5.8% assistance with good benefit potential.Buy above 114.70. Stop loss at 114.24. Take revenue at 115.48. The material has been provided by InstaForex Company – www.instaforex.com

Elliott wave analysis of EUR/NZD for March – 2017 888011000 110888 Wave summary: The expected correction toward support seen at 1.5145 is well underway. Fromthis support or upon a direct break above 1.5432 more upside toward 1.5677 and possibly evencloser to 1.5837will be anticipated. R3: 1.5443 R2: 1.5370 R1: 1.5315 Pivot: 1.5300 S1: 1.5275 S2: 1.5215 S3: 1.5145 We will buy EUR at 1.5155 or upon a break above resistance seen at 1.5432. The material has been offered byInstaForex Company-www.instaforex.com

By | March 15, 2017

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Wave summary:

The expected correction toward support seen at 1.5145 is well underway. From this support or upon a direct break above 1.5432 further upside toward 1.5677 and possibly even closer to 1.5837 will be expected.

R3: 1.5443

R2: 1.5370

R1: 1.5315

Pivot: 1.5300

S1: 1.5275

S2: 1.5215

S3: 1.5145

We will buy EUR at 1.5155 or upon a break above resistance seen at 1.5432.

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

Ireland CPI Increases For Second Month

By | March 15, 2017

Ireland’s consumer rates increased for the second straight month in February, figures from the Central Statistics Workplace showed Wednesday.

The consumer rate index increased 0.5 percent year-over-year in February, following a 0.3 percent climb in January.

Transfer expenses grew 3.6 percent annually in February and rates of various goods and services went up by 2.1 percent. At the same time, prices of food and non-alcoholic beverages dropped 2.6 percent.

Month-on-month, consumer rates climbed 0.6 percent from January, when it fell by 0.5 percent.

The EU step of inflation or HICP, increased 0.3 percent every year in February, after a 0.2 percent rise in the prior month. That was simply below the 0.4 percent gain anticipated by financial experts.

On a month-to-month basis, the HICP increased 0.5 percent in February, in line with expectations, reversing a 0.3 percent drop in the preceding month.

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

Japanese Yen Advances Ahead Of BoJ Choice

By | March 15, 2017

The Japanese yen climbed up against its significant counterparts in the European session on Wednesday, ahead of the Bank of Japan’s policy decision due tomorrow, which is anticipated to keep its rates and yield-curve policy the same.

The BoJ is most likely keep rates steady at -0.1 percent and target the yield of 10-year government bonds at around no percent.

The reserve bank targets to purchase federal government bonds so that the balance of its holdings increases at an annual speed of 80 trillion yen.

Investors remained careful ahead of the monetary policy result from the United States Federal Reserve and the Dutch election vote today.

Analysts believe the U.S. Federal Reserve will raise rates of interest later Wednesday, but there is much uncertainty about the outlook for further tightening. It is hoped that Fed Chair Janet Yellen will shed some light at her interview following the decision.

Figures from the Ministry of Economy, Trade and Market showed that Japan’s commercial production declined less than at first estimated in January.

Industrial production fell 0.4 percent month-over-month in January instead of a 0.8 percent drop approximated earlier. It was the very first decline in six months.

The yen has been selling a positive territory in the Asian session, with the exception of the pound.

In European trading, the Japanese yen rose back to 121.75 versus the euro, from an early low of 122.02. The yen had already set a 5-day high of 121.64 early in the Asian session. On the advantage, the yen may find resistance around the 120.00 mark.

European Reserve bank Executive Board member Peter Praet said that euro location inflation is being owned by energy and food prices and underlying cost pressures stay subdued, implying that there was no requirement for a modification in the present financial policy stance.

“Browsing recent volatility, the inflation outlook does not at this phase call for a reassessment of the present financial policy position,” Praet said in a panel discussion at the G-20 conference in Frankfurt.

Reversing from an early low of 114.88 against the greenback, the yen edged as much as 114.58. If the yen extends increase, it might find resistance around the 112.00 zone.

The yen rebounded to 113.58 against the Swiss franc, from a low of 113.86 hit at 11:00 pm ET. This might be compared with a 2-day high of 113.41 hit at the beginning these days’s trading. The next possible resistance for the yen is seen around the 111.00 level.

The yen reversed from an early near a 2-week low of 140.60 against the pound, edging greater to 139.78. The yen is seen finding resistance around the 136.00 region.

Information from the Office for National Statistics revealed that the UK jobless rate was up to the lowest level because 1975 at the start of the year.

The ILO unemployment rate was available in at 4.7 percent in 3 months to January versus 5.1 percent seen a year earlier.

The yen was trading higher at 85.19 versus the loonie and 79.54 against the kiwi, up from an early low of 85.32 and a 5-day low of 79.70, respectively. Additional gains might take the yen to resistance levels of around 84.00 against the loonie and 78.00 against the kiwi.

Looking ahead, New York Fed’s empire production information for March, U.S. customer rate index and retail sales for February, NAHB real estate market index for March and service stocks for January, as well as Canada existing house sales for February are due in the New york city session.

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