Daily Video Technical Analysis|AUD/USD|24th March 2017 888011000 110888 We take a nice comprehensive look at AUD/USD and see if there are any trading opportunities for us to make some juicy pips!We combine the art of Fibonacci retracements, Fibonacci extensions, Support & & Resistance together with Stochastic and RSI to identify the best entry, stop loss and profit targets.Subscribe to me for more day-to-day technical analysis!The material has been supplied by InstaForex Company-www.instaforex.com

By | March 24, 2017

We take a nice detailed look at AUD/USD and see if there are any trading opportunities for us to make some juicy pips!

We combine the art of Fibonacci retracements, Fibonacci extensions, Support & Resistance along with Stochastic and RSI to determine the best entry, stop loss and profit targets.

Subscribe to me for more daily technical analysis!

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

Jonathon Alexander

NZD/USD is dropping nicely, stay bearish

By | March 24, 2017

The cost continues to drop perfectly from our offering location as expected and is seeing a nice bearish response below 0.7065 resistance( Fibonacci retracement, Fibonacci extension )where we anticipate a drop to a minimum of 0.6968 assistance(Fibonacci retracement, current swing low support ). We can see that the rate has made a bearish exit in a similar fashion to Stochastic which provides us stronger conviction of a drop from here.Stochastic( 21,5,3)sees major resistance at 95%and has bearish divergence versus the cost which signifies a strong drop is impending. It has likewise made a response off its bearish pullback with great disadvantage potential.Sell below 0.7065. Stop loss is at 0.7113. Take revenue is at 0.6968. The product has actually been provided by InstaForex Business-www.instaforex.com

Jonathon Alexander

EUR/JPY profit target reached, prepare to purchase

By | March 24, 2017

The price has actually shot down and reached our earnings target. We prepare to buy above major assistance at 119.15(Fibonacci extension, Fibonacci retracement )for a bounce up to a minimum of 120.33(Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is seeing strong assistance above the 4.2% level and also shows bullish divergence versus the price.Buy above 119.15. Stop loss is at 118.54. Take profit is at 120.33.

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

Jonathon Alexander

AUD/USD revenue target reached perfectly, time to begin buying

By | March 24, 2017

The cost has actually dropped completely and reached our profit target. We now look to buy above 0.7619 assistance(Fibonacci retracement, Fibonacci extension, and horizontal overlap assistance )for a push up to 0.7684 resistance(Fibonacci retracement, current swing high resistance). Stop loss is at 0.7583 (Fibonacci retracement, horizontal pullback resistance)in case the cost drops further.Stochastic (21,5,3)is seeing strong assistance above the 3.8% where we expect a bounce from.Buy above 0.7619.

Stop loss is at 0.7583. Take profit is at 0.7684. The product has actually been offered by InstaForex Business-www.instaforex.com

Jonathon Alexander

Trading Plan for EUR/USD and Gold for March 24, 2017 888011000 110888 Technical outlook: The EURUSD had dropped yesterday inning accordance with the plan talked about here and almost hit the first levels at 1.0750, prior to drawing back greater once again. The current wave structure exposes that the rally is restorative in nature a minimum of in the meantime. As identified here on the hourly chart, the drop from 1.0825 levels unfolded into 5 waves, labeled i through v. This termination could be wave 1 of one higher degree or wave A of the A-B-C corrective drop. The rally through 1.0810 levels today might be wave 2 or wave B. A drop to 1.0700 and 1.0650 levels is expected. The more course of the trend may be decided later on. Immediate resistance is seen at 1.0825 levels, while assistance is at 1.0700/ 10 levels. Just if EURUSD breaks above 1.0829 levels, the drop might be delayed further. Please keep in mind that the pair mayhave already formeda significant top at 1.0825 levels but need to follow through lower to verify the same.Trading plan: Please stay short for now and add fresh positions here, stop at 1.0875, targeting a minimum of 1.0700 and 1.0650 levels.Gold chart setups: Technical outlook: Gold seems to have topped out in the meantime after printing intraday highs the other day at $1253 levels. The 4H wave structure still recommends that the rally from$ 1195 is restorative in nature as identified here. The general wave counts and high likelihood recommends that Gold had dropped into 5 waves previously forming an impulse, identified as wave A. Additionally the metal has actually now terminated into wave B, and must be aiming to drop lower into wave C lower towards $1180 levels prior to resuming its general rally. The alternate wave count could be that the metal might drop in a corrective way and discover support around $1217 levels before resuming rally. A drop lower is expected at least towards $1217/20 levels from here. Please note that resistance is seen at $1253 levels, while assistance is at $1195 levels respectively. Just a push above $1253 levels now would put the above wave count as void.Trading strategy:Please stay shortin the meantime, stop at 1256, targeting 1225.Essential outlook:Without any major fundamental news today, the volatility is anticipated to remain less and costs ought to not anticipate significant triggers. Look out for the USD Manufacturing PMI to be out in the next 10 minutes, though.Good luck!The material has actuallybeen provided by InstaForex Company-www.instaforex.com

By | March 24, 2017

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Technical outlook:

The EURUSD had dropped yesterday according to the plan discussed here and almost hit the first levels at 1.0750, before pulling back higher again. The current wave structure reveals that the rally is corrective in nature at least for now. As labeled here on the hourly chart, the drop from 1.0825 levels unfolded into 5 waves, labeled i through v. This termination could be wave 1 of one higher degree or wave A of the A-B-C corrective drop. Furthermore, the rally through 1.0810 levels today could be wave 2 or wave B. In either case, a drop towards 1.0700 and 1.0650 levels is expected. The further course of the trend may be decided later on. Immediate resistance is seen at 1.0825 levels, while support is at 1.0700/10 levels. Only if EURUSD breaks above 1.0829 levels, the drop could be delayed further. Please note that the pair might have already formed a meaningful top at 1.0825 levels but need to follow through lower to confirm the same.

Trading plan:

Please remain short for now and add fresh positions here, stop at 1.0875, targeting at least 1.0700 and 1.0650 levels.

Gold chart setups:

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Technical outlook:

Gold seems to have topped out for now after printing intraday highs yesterday at $1253 levels. The 4H wave structure still suggests that the rally from $1195 is corrective in nature as labeled here. The overall wave counts and high probability suggests that Gold had dropped into 5 waves earlier forming an impulse, labeled as wave A. Furthermore the metal has now terminated into wave B, and should be looking to drop lower into wave C lower towards $1180 levels before resuming its overall rally. The alternate wave count could be that the metal could drop in a corrective manner and find support around $1217 levels before resuming rally. In either case, a drop lower is expected at least towards $1217/20 levels from here. Please note that resistance is seen at $1253 levels, while support is at $1195 levels respectively. Only a push above $1253 levels now would put the above wave count as void.

Trading plan:

Please remain short for now, stop at 1256, targeting 1225.

Fundamental outlook:

With no major fundamental news today, the volatility is expected to remain less and prices should not expect major triggers. Watch out for the USD Manufacturing PMI to be out in the next 10 minutes, though.

Good luck!

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

Jonathon Alexander

Elliott wave analysis of EUR/NZD for March 24, 2017 888011000 110888 Wave summary: The triangle consolidation we mentioned yesterday is forming up well and allthat is needed is a small setback to 1.5285 before the triangle is complete and wave [5]higher to 1.5764ought to be expected. A break above small resistance seen at 1.5441 will indicate that wave[. v] greater is unfolding.R3:1.5537 R2: 1.5460 R1: 1.5441 Pivot: 1.5400 S1: 1.5285 S2: 1.5263 S3: 1.5230 Trading recommendation: We are long EUR from 1.5170 with stop placed at 1.5160. Take earnings will be placed at 1.5750. The material has been supplied by InstaForex Business-www.instaforex.com

By | March 24, 2017

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Wave summary:

The triangle consolidation we mentioned yesterday is shaping up nicely and all that is needed is a minor setback to 1.5285 before the triangle is complete and wave [5] higher to 1.5764 should be expected.

A break above minor resistance seen at 1.5441 will indicate that wave [v] higher is unfolding.

R3: 1.5537

R2: 1.5460

R1: 1.5441

Pivot: 1.5400

S1: 1.5285

S2: 1.5263

S3: 1.5230

Trading recommendation:

We are long EUR from 1.5170 with stop placed at 1.5160. Take profit will be placed at 1.5750.

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

Jonathon Alexander

Elliott wave analysis of EUR/JPY for March 24, 2017 888011000 110888 Wave summary: We continue to look for a firm test of minor resistance seen at 120.34, This resistance maybe broken somewhat prior to a correction towards 119.65 from where the next strongrally is expected higher towards122.88 and above. R3:121.05 R2: 120.65 R1: 120.34 Pivot: 120.00 S1: 119.60 S2: 119.28 S3: 119.16 Trading suggestion: Purchase near 119.65 or upon a clear break above 120.34 with stop positioned at 119.20 The product has actually been supplied by InstaForex Company-www.instaforex.com

By | March 24, 2017

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Wave summary:

We continue to look for a firm test of minor resistance seen at 120.34, This resistance might be broken slightly before a correction toward 119.65 from where the next strong rally is expected higher toward 122.88 and above.

R3: 121.05

R2: 120.65

R1: 120.34

Pivot: 120.00

S1: 119.60

S2: 119.28

S3: 119.16

Trading recommendation:

Buy near 119.65 or upon a clear break above 120.34 with stop placed at 119.20

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

Jonathon Alexander

Petroleum Steady Near $48 Ahead Of OPEC Satisfying

By | March 24, 2017

Crude oil futures inched back near $48 a barrel Friday morning despite remaining issues the global supply excess will last throughout the year.

U.S. crude oil stockpiles have risen to a record high as domestic production has actually ramped up significantly over the winter.

TransCanada Corp. announced that the United States Department of State has actually signed and provided a Governmental Authorization to build the Keystone XL Pipeline.

Meanwhile, OPEC is stated to be struggling to accomplish full compliance with its supply quota plan. The cartel satisfies this weekend in Kuwait, and are anticipated to extend the offer beyond its June end.

WTI light sweet petroleum was up 28 cents at $47.98 a barrel this morning, having recently touched an annual low.

Traders are looking ahead to this afternoon’s weekly U.S. oil rig count from Baker Hughes.

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

Jonathon Alexander

Portugal'’s Budget Deficit Narrows In 2016 888011000 110888 Portugal’s budget deficit narrowed in 2016, inning accordance with the data published by Data Portugal on Friday. The deficit spending halved to 2.1 percent of gross domestic product from 4.4 percent in 2015. This was likewise below the 3 percent ceiling. The deficit is forecast to narrow further in 2017, to 1.6 percent of GDP. The material has actually been offered by InstaForex Business – www.instaforex.com

By | March 24, 2017

Portugal’s budget deficit narrowed in 2016, according to the data published by Statistics Portugal on Friday.

The budget deficit halved to 2.1 percent of gross domestic product from 4.4 percent in 2015. This was also below the 3 percent ceiling.

The deficit is forecast to narrow further in 2017, to 1.6 percent of GDP.

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

Jonathon Alexander

USD/CAD intraday technical levels and trading suggestions for March 24, 2017 888011000 110888 Considering that April 2016, the USD/CAD set has been trending up within the portrayed rising channel.In December 2016, a bullishbreakout above 1.3300( 50%Fibonacci level )was anticipated to enable an additional advance towards 1.3700-1.3750(the ceiling of the depicted channel). Considerable bearish rejection was revealed around 1.3580(recently established top). During the bearish pullback, the rate level of 1.3300(50% Fibonacci Level)failed to supply sufficient assistance to the pair.This enabled even more bearish movement toward the cost level of 1.2970(61.8%Fibonacci level)where a legitimate BUY entry was used in February 2017.This week, the present bullish breakout above 1.3300( 50% Fibonacci Level )improved additional advance towards 1.3440 and 1.3530. The next bullish target would be located around 1.3800(upper limit of the illustrated channel)if the pair maintains upside trading above 1.3300(50% Fibonacci Level) which stands as a prominent assistance level.On the other hand, if the USD/CAD pair moves below 1.3300, it might end up being caughtagain within the depicted debt consolidation variety (1.3300-1.2970). The product has been offered by InstaForex Company-www.instaforex.com

By | March 24, 2017

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Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel.

In December 2016, a bullish breakout above 1.3300 (50% Fibonacci level) was expected to allow a further advance toward 1.3700-1.3750 (the upper limit of the depicted channel).

However, significant bearish rejection was expressed around 1.3580 (recently established top).

During the bearish pullback, the price level of 1.3300 (50% Fibonacci Level) failed to provide enough support to the pair.

This allowed further bearish movement toward the price level of 1.2970 (61.8% Fibonacci level) where a valid BUY entry was offered in February 2017.

This week, the current bullish breakout above 1.3300 (50% Fibonacci Level) enhanced further advance toward 1.3440 and 1.3530.

The next bullish target would be located around 1.3800 (upper limit of the depicted channel) if the pair maintains upside trading above 1.3300 (50% Fibonacci Level) which stands as a prominent support level.

On the other hand, if the USD/CAD pair moves below 1.3300, it may become trapped again within the depicted consolidation range (1.3300-1.2970).

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

Jonathon Alexander