Day-to-day analysis of Silver for January 24, 2017 888011000 110888 Overview Silver is trading with a minor bullish bias after it kept its stability above the assistance base formed above the correctional bearish channel’s resistance. You can judge the developments on the chart. The rate is moving inside a small bullish channel that supports the bullish circumstance in the upcoming sessions. The metal is waiting to evaluate 17.43 level. In general, the bullish circumstance is still valid for the short term supported by the EMA50. Let me remind you that breaching the targeted level will extend price gains to reach 18.30. Holding above 16.56 is the most essential condition to continue the expected rise. The anticipated trading range for today is in between 17.00 support and 17.43 resistance. The material has been provided by InstaForex Business-www.instaforex.com

By | January 24, 2017

SILVERH4.png

Overview

Silver is trading with a slight bullish bias after it kept its stability above the support base formed above the correctional bearish channel’s resistance. You can judge the developments on the chart. The price is moving inside a minor bullish channel that supports the bullish scenario in the upcoming sessions. The metal is waiting to test 17.43 level initially. In general, the bullish scenario is still valid for the short term supported by the EMA50. Let me remind you that breaching the targeted level will extend price gains to reach 18.30. Holding above 16.56 is the most important condition to continue the expected rise. The expected trading range for today is between 17.00 support and 17.43 resistance.

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

Jonathon Alexander

Analysis EUR/NZD for January 24, 2017 888011000 110888 Recently, EUR/NZD has been trading downwards. The cost evaluated the level of 1.4820. Utilizing the Ichimoku on the 4H time frame, I discovered strong resistance levels at the cost of 1.4860(Kijun sen)and 1.4886 (Tenkan sen). The short-term pattern is downward. Expect selling chances on the pullback. Very first downward target is set atthe rate of 1.4770. Fibonacci Pivot Points: Resistance levels R1: 1.4930 R2: 1.4950 R3: 1.4980 Support levels: S1: 1.4860 S2: 1.4840 S3: 1.4800 Trading recommendations for today: watch for prospective selling opportunities.The product has actually been provided by InstaForex Company-www.instaforex.com

By | January 24, 2017

analytics588756f28e9c3.png

Recently, EUR/NZD has been trading downwards. The price tested the level of 1.4820. Using the Ichimoku on the 4H time frame, I found strong resistance levels at the price of 1.4860 (Kijun sen) and 1.4886 (Tenkan sen). The short-term trend is downward. Watch for selling opportunities on the pullback. First downward target is set at the price of 1.4770.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4930

R2: 1.4950

R3: 1.4980

Support levels:

S1: 1.4860

S2: 1.4840

S3: 1.4800

Trading recommendations for today: watch for potential selling opportunities.

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

Jonathon Alexander

Gold analysis for January 24, 2017 888011000 110888 Recently, gold has been trading sideways at the cost of$1,213.00. In the Daily amount of time and utilizing the Ichimoku cloud, I discovered that rate remains in the Ichimoku Cloud(balance). The pattern according to the daily time frame is neutral to bearish. Inning accordance with the 30M time frame, I discovered prospective double top formation and bearishdivergence on Moving Typical Oscilator, which is a sign of weakness. Anyhow, to validate this view price need to break the level of$ 1,209.30. If the cost breaks the level of $1,209.30, Gold may check out the level of$1,199.00-$1,196.00.Resistance levels: R1: 1,215.75 R2: 1,216.50 R3: 1,219.35 Assistance levels: S1: 1,212.15 S2: 1,209.30 S3 : 1,208.50 Trading suggestions for today: Watch for potential selling opportunities.The material has been supplied by InstaForex Business-www.instaforex.com

By | January 24, 2017

analytics58874ed518142.png

analytics58874ee24efcd.png

Recently, gold has been trading sideways at the price of $1,213.00. In the Daily time frame and using the Ichimoku cloud, I found that price is in the Ichimoku Cloud (equilibrium). The trend according to the daily time frame is neutral to bearish. According to the 30M time frame, I found potential double top formation and bearish divergence on Moving Average Oscilator, which is a sign of weakness. Anyway, to confirm this view price should break the level of $1,209.30. If the price breaks the level of $1,209.30, Gold may visit the level of $1,199.00 – $1,196.00.

Resistance levels:

R1: 1,215.75

R2: 1,216.50

R3: 1,219.35

Support levels:

S1: 1,212.15

S2: 1,209.30

S3: 1,208.50

Trading recommendations for today: Watch for potential selling opportunities.

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

Jonathon Alexander

Technical analysis of USD/JPY for January 24, 2017 888011000 110888 USD/JPY is anticipated to trade with a bullish predisposition. The set tape-recorded a succession of greater tops and greater bottoms considering that Jan 20, which confirms the bullish scenario. The upward momentum is more strengthened by its increasing 20-period and 50-period moving averages, which are playing assistance roles and maintain the advantage predisposition. Moreover, the relative strength index is staying securely above its neutrality level at 50 and does not have downward momentum. Thus, as long as 112.45 is assistance, look for a further rise to 113.75 as well as 114.10 in extension. Recommendation: The set is trading above its pivot point. It is likely to sell a wider range as long as it stays above its pivot point. Long positions are advised with the very first target at 113.75 and the second one at 114.10. In the alternative scenario, brief positions are advised with the very first target at 112.00 if the price relocations listed below its pivot points. A break of this target is likely to press the set further downwards, and one might expect the 2nd target at 111.50. The pivot point is at 112.45. Resistance levels: 113.75, 114.10, 114.40, Assistance levels: 112.00, 111.50, 111 The product has been supplied by InstaForex Company-www.instaforex.com

By | January 24, 2017

USDJPYM30.png

USD/JPY is expected to trade with a bullish bias. The pair recorded a succession of higher tops and higher bottoms since Jan 20, which confirms the bullish scenario. The upward momentum is further reinforced by its rising 20-period and 50-period moving averages, which are playing support roles and maintain the upside bias. Moreover, the relative strength index is staying firmly above its neutrality level at 50 and lacks downward momentum.

Hence, as long as 112.45 is support, look for a further rise towards 113.75 and even 114.10 in extension.

Recommendation:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 113.75 and the second one at 114.10. In the alternative scenario, short positions are recommended with the first target at 112.00 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 111.50. The pivot point is at 112.45.

Resistance levels: 113.75, 114.10, 114.40 , Support levels: 112.00, 111.50, 111

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

Jonathon Alexander

Turkey Reserve bank Hikes Key Lending Rate On Inflation Worries

By | January 24, 2017

Turkey’s reserve bank raised its overnight financing rate on Tuesday, mentioning extreme changes in exchange rates that present upside threats to the inflation outlook.

The Monetary Policy Committee, led by Guv Murat Cetinkaya, treked the limited funding rate to 9.25 percent from 8.5 percent, the central bank stated in a declaration. The decision remained in line with expectations.

The over night borrowing rate was held stable at 7.25 percent and the one-week repo rate was left the same at 8 percent. Economists had anticipated the rates to be raised to 7.5 percent and 8.5 percent, respectively.

While developments in aggregate need assistance disinflation, excessive fluctuations in exchange rates since the previous policy session have increased the upside threats concerning the inflation outlook, the bank said.

“The significant increase in inflation is anticipated to continue in the short term due to lagged pass-through impacts and the volatility in food rates,” the bank stated.

“Accordingly, the Committee decided to reinforce the financial tightening in order to include the wear and tear in the inflation outlook.”

The bank likewise stated that it stands ready to provide further financial tightening when required.

“Needed liquidity steps will be taken in case of unhealthy rates habits in the forex market that can not be justified by financial fundamentals,” the bank stated.

The Turkish lira has been under significant downward pressure in current weeks, primarily due to political instability and concerns over central bank self-reliance.

The partial recovery in the economic activity shown by current information is anticipated to advance the back of helpful measures and incentives, the bank stated. Policymakers worried that implementation of the structural reforms would contribute to the prospective development significantly.

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

Jonathon Alexander

Turkish Lira Declines To 4-day Vs U.S. Dollar After Turkey Decision

By | January 24, 2017

The Turkish Lira deteriorated versus the U.S. dollar in the European session on Tuesday, as the Turkey central bank all of a sudden decided its keep its benchmark rate of interest on hold.

In a statement, the Turkish Reserve bank retained its benchmark one-week repo rate at 8 percent. Economic experts had actually anticipated a 50 basis-point hike to 8.50 percent.

The bank raised its marginal financing rate to 9.25 percent from 8.5 percent. The decision was in line with expectations.

The interest rate has been maintaineded at 7.25 percent, in line with projections.

The Turkish Lira declined to a 4-day low of 3.8285 versus the greenback, off its early 8-day high of 3.7360. The next possible disadvantage target for the Lira is seen around the 3.9 level.

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

Jonathon Alexander

Technical analysis of USD/CHF for January 24, 2017 888011000 110888 USD/CHF is expected to continue rising. The technical photo of the pair is positive above an increasing pattern line, and is most likely to challenge its next resistance at 1.0030. The upward momentum is additional strengthened by its rising 50-period and 20-period moving averages, which play assistance functions and keep the upside bias. The relative strength index is above its neutrality level at 50 and does not have downward momentum. Trump signed the executive order to formally withdraw from the 12-nation Trans-Pacific Collaboration trade deal. He likewise revealed plans to begin renegotiating the North American Open market Contract (NAFTA )with the leaders of Canada and Mexico. He even told the US production executives he would impose a seriousborder tax on firms that import items into the United States after moving American factories overseas.As long as assistance holds at 0.9960, search for an additional rise towards 1.0030 as well as 1.0050 in extension. Resistance levels: 1.0030, 1.0050, 1.0070 Assistance levels: 0.9935, 0.9910, 0.9875 The product has actually been supplied by InstaForex Business-www.instaforex.com

By | January 24, 2017

USDCHFM30.png

USD/CHF is expected to continue ascending. The technical picture of the pair is positive above a rising trend line, and is likely to challenge its next resistance at 1.0030. The upward momentum is further reinforced by its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum.

Trump signed the executive order to formally withdraw from the 12-nation Trans-Pacific Partnership trade deal. He also announced plans to start renegotiating the North American Free Trade Agreement (NAFTA) with the leaders of Canada and Mexico. He even told the US manufacturing executives he would impose a severe border tax on firms that import products into the US after moving American factories overseas.

As long as support holds at 0.9960, look for a further rise toward 1.0030 and even 1.0050 in extension.

Resistance levels: 1.0030, 1.0050, 1.0070

Support levels: 0.9935, 0.9910, 0.9875

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

Jonathon Alexander

International macro overview for 24/01/2017

By | January 24, 2017

Global macro overview for 24/01/2017: The series of PMI Flash indications from the Eurozone was launched this morning. Those data offers a fresh outlook for the Eurozone

economy. On the whole, market analysts were optymistic, that the firmer trend in GDP growth will continue. This is why the PMI Flash Composite index was anticipated at the level of 54.5, a 0.1 point higher than a month ago. The figure released was at the level of 54.3, 0.1 points less than anticipated. The very same scenario can be observed at Flash Solutions PMI that was worse than expected reading of 53.9 points by a simple 0.1 points too. The only PMI sub-index that beat market expectations was PMI Flash Production index with 55.1 points provided versus 54.8 points anticipated and 54.9 points a month ago. The greatest responsibility for worse than anticipated figures goes to Germany this time as both Solutions and Composite Flash PMI’s dissapointed market individuals. In conclusion, the PMI Flash data did not deliver the upbeat figures. Nevertheless, the first estimate of the main Q4 GDP scheduled for next week might surprise analysts to the upside.Let’s now take a look at EUR/USD technical image in the 4H time frame. The overlapped cost action recommends a corrective upward cycle in progress, so the drop needs to resume whenever.

The very first sign of the resumption may come with the golden trend line breakout around the level of 1.0650, so please keep an eye at the level.< img width="450 "src=" http://qkfx.com/wp-content/uploads/2017/01/global-macro-overview-for-24012017.jpg" alt ="analytics58872bf1a487c.jpg"/ > The material has actually been provided by InstaForex Company -www.instaforex.com

Jonathon Alexander

Everyday analysis of major pairs for January 24, 2017 888011000 110888 EUR/USD: There is a bullish signal on the EUR/USD set, and just as it was forecasted previously this week, cost is expected to go further northwards. The market moved up beyond the assistance line at 1.0750 yesterday, targeting the resistance lines at 1.0800, 1.0850, and 1.0850. This bullishness would be practical as long as price does not go below the assistance line at 1.0600. USD/CHF: There is a. bearish signal on the USD/CHF set, and simply as it was anticipated previously today,. cost is expected to go further southwards. The marketplace moved up listed below the resistance. line at 1.0000, targeting the assistance lines at 0.9950, 0.9900, and 0.9850. This. bearishness would be sensible as long as price not go above the resistance line. at 1.0000. The resistance line at 1.0000is especially crucial since it. would not be simple to be broken to the benefit, therefore, the present bearishness. is anticipated to hold out longer. GBP/USD: The GBP/USD pair moved up-wards by 170 pips. yesterday, to continue the bullish signal that was started last week. There is. a Bullish Verification Pattern and price may later on reach the circulation. areas at 1.2550, 1.2600, and 1.2650. USD/JPY: Exactly what occurred. the other day revealed that the rally that took place last Thursday and Friday was an. opportunity to sell brief at better rates. Rate went south on Monday,. underlining the recent bearish pattern in the market. Further downwards movement. is expected for the rest of this week. EUR/JPY: The movement on. this currency cross is now rather much like the movement on the USD/JPY set. There. is a Bearish Confirmation Pattern here, and an additional bearish motion is. possible as price targets the need zones at 121.00( the first target), 120.50,. and 120.00. The product has been provided by InstaForex Company- www.instaforex.com

By | January 24, 2017

EUR/USD: There is a bullish
signal on the EUR/USD pair, and just as it was forecasted earlier this week, price
is expected to go further northwards. The market moved up beyond the support
line at 1.0750 yesterday, targeting the resistance lines at 1.0800, 1.0850, and
1.0850. This bullishness would be sensible as long as price does not go below
the support line at 1.0600.

1485251066_1.png

USD/CHF: There is a
bearish signal on the USD/CHF pair, and just as it was forecasted earlier this week,
price is expected to go further southwards. The market moved up below the resistance
line at 1.0000, targeting the support lines at 0.9950, 0.9900, and 0.9850. This
bearishness would be sensible as long as price not go above the resistance line
at 1.0000. The resistance line at 1.0000 is particularly important because it
would not be easy to be broken to the upside, and so, the current bearishness
is expected to hold out longer.

2.png

GBP/USD: The GBP/USD pair moved upwards by 170 pips
yesterday, to continue the bullish signal that was started last week. There is
a Bullish Confirmation Pattern and price may later reach the distribution
territories at 1.2550, 1.2600, and 1.2650.

3.png

USD/JPY: What happened
yesterday showed that the rally that happened last Thursday and Friday was an
opportunity to sell short at better prices. Price went south on Monday,
underlining the recent bearish trend in the market. Further downwards movement
is expected for the rest of this week.

4.png

EUR/JPY: The movement on
this currency cross is now quite similar to the movement on the USD/JPY pair. There
is a Bearish Confirmation Pattern here, and a further bearish movement is
possible as price targets the demand zones at 121.00 (the first target), 120.50,
and 120.00.

5.png

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

Jonathon Alexander

Technical analysis of USD/CAD for January 24, 2017 888011000 110888 General overview for 24/01/2017:The bottom for the wave 2/b (green) might be in location at the level of 1.3212. The rate moved greater above the intraday support at the level of 1.3252 and now is threating to breach the intraday golden trend line. Any breakout above it will be another clue, that the bottom for wave 2/b is in location, nevertheless, the bulls need to still break out above the wave 1/a (green) high at the level of 1.3386 to verify the bottom.Support/ Resistance:1.3018 – Technical Support1.3137 – WS11.3189 – Technical Support1.3252 – Intraday Support1.3261 – Weekly Pivot1.3386 – Intraday Resistance1.3507 – WR1Trading recommendations:The head and shoulder pattern may be finished. If the golden pattern line is plainly breached, then just purchase orders need to be opened with SL listed below the level of 1.3212 and TP at the level of 1.3386. The material has been suppliedby InstaForex Business -www.instaforex.com

By | January 24, 2017

General overview for 24/01/2017:

The bottom for the wave 2/b (green) might be in place at the level of 1.3212. The price moved higher above the intraday support at the level of 1.3252 and now is threating to violate the intraday golden trend line. Any breakout above it will be another clue, that the bottom for wave 2/b is in place, nevertheless, the bulls must still break out above the wave 1/a (green) high at the level of 1.3386 to confirm the bottom.

Support/Resistance:

1.3018 – Technical Support

1.3137 – WS1

1.3189 – Technical Support

1.3252 – Intraday Support

1.3261 – Weekly Pivot

1.3386 – Intraday Resistance

1.3507 – WR1

Trading recommendations:

The head and shoulder pattern might be completed. If the golden trend line is clearly violated, then only buy orders should be opened with SL below the level of 1.3212 and TP at the level of 1.3386.

analytics588714ee3e0b5.jpg

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

Jonathon Alexander