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

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

Jonathon Alexander

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.

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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.

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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

Jonathon Alexander

<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.

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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.

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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

Jonathon Alexander

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

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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

Jonathon Alexander

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

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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

Jonathon Alexander

Technical analysis of USD/JPY for December 02, 2016 888011000 110888 USD/JPY is expected to trade with a bearish bias listed below 114.30. The set remains in consolidation, however is still holding above its essential resistance at 114.30 . The relative strength index does not have upward momentum. Even though an extension of the debt consolidation can not be dismissed, its level ought to be restricted. On Thursday, gains in blue chip stocks brought the Dow Jones Industrial Average to a fresh record high, while sharp losses in technology shares weighed down the Nasdaq. The DJIA advanced 68 points (+0.4%)to 19,191, while the S&P 500 declined 7 points(-0.4%)to 2,191 and the Nasdaq Composite shed 72 points(-1.4%)to 5,251. Bank and financial shares published gains, and energy shares were assisted by oil costs’prolonged rally. Semiconductor makers fell dramatically on reports that Apple might be slowing orders for its latest-generation iPhone. The S&P 500 innovation index lost 2.3 %, Facebook dropped 2.8 %, and Microsoft was down 1.8%. Concerning significant economic data, the Institute for Supply Management(ISM)published its November Manufacturing PMI at 53.2 (vs. 52.5 expected, 51.9 in October ). The Labor Department reported 268,000 preliminary unemployed claims for the week endedNovember 26, higher than 253,000 expected and 251,000 for the prior week.The selloff in U.S. federal government bonds showed no signs of ending. The benchmark 10-year U.S. Treasury yield leapt to a 16-month intraday high of 2.491%before settling at 2.442%, up from 2.365% Wednesday.To sum up, as long as the essential level at 114.30 is not broken, look for an additional disadvantage toward113.25 initially. Trading Suggestion: The set is trading below its pivot point. It is most likely to sell a lower range as long as it remains below the pivot point. Brief positions are suggested with the first target at 113.25. A break below this target will move the set additional downwards to 112.55. The pivot point stands at 114.30. In case the price relocations in the opposite instructions and gets better from the support level, it will go above its pivot point. It is most likely to move even more to the upside. According to that situation, long positions are recommended with the very first target at 114.80 and the second one at 115.30. Resistance levels: 114.80, 115.30, 115.85Support levels: 113.25, 112.55, 112.00The material has been supplied by InstaForex Company – www.instaforex.com

By | December 2, 2016

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USD/JPY is expected to trade with a bearish bias below 114.30. The pair remains in consolidation, but is still holding above its key resistance at 114.30. The relative strength index lacks upward momentum. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

On Thursday, gains in blue chip stocks brought the Dow Jones Industrial Average to a fresh record high, while sharp losses in technology shares weighed down the Nasdaq. The DJIA advanced 68 points (+0.4%) to 19,191, while the S&P 500 declined 7 points (-0.4%) to 2,191 and the Nasdaq Composite shed 72 points (-1.4%) to 5,251.

Bank and financial shares posted gains, and energy shares were helped by oil prices’ extended rally. Semiconductor makers fell sharply on reports that Apple may be slowing orders for its latest-generation iPhone. The S&P 500 technology index lost 2.3%, Facebook dropped 2.8%, and Microsoft was down 1.8%.

Regarding major economic data, the Institute for Supply Management (ISM) posted its November Manufacturing PMI at 53.2 (vs. 52.5 expected, 51.9 in October). The Labor Department reported 268,000 initial jobless claims for the week ended November 26, higher than 253,000 expected and 251,000 for the prior week.

The selloff in U.S. government bonds showed no signs of ending. The benchmark 10-year U.S. Treasury yield jumped to a 16-month intraday high of 2.491% before settling at 2.442%, up from 2.365% Wednesday.

To sum up, as long as the key level at 114.30 is not broken, look for a further downside toward 113.25 first.

Trading Recommendation:The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 113.25. A break below this target will move the pair further downwards to 112.55. The pivot point stands at 114.30. In case the price moves in the opposite direction and bounces back from the support level, it will go above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 114.80 and the second one at 115.30.

Resistance levels: 114.80, 115.30, 115.85

Support levels: 113.25, 112.55, 112.00

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

Jonathon Alexander

Technical analysis of GBP/JPY for December 02, 2016 888011000 110888 GBP/JPY is anticipated to trade with bullish bias above 142.60. The pair has actually drawn back on its essential assistance at 142.60, representing the current 50-period moving average, which is still heading upward, and must serve as a strong assistance role. The relative strength index is bullish above its neutrality level at 50. Although a continuation of the debt consolidation can not be dismissed, its level should be limited. As long as 144.25 holds as the crucial support, the set is anticipated to increase toward 145.20 at. The pair is trading above its pivot point. It is most likely to trade in a larger variety as long as it stays above its pivot point. Long positions are advised with the first target at 144.25 and the second one at 145.20. In the alternative situation, brief positions are advised with the very first target at 141.50 if the cost moves listed below its pivot point. A break of this target is most likely to push the set further downwards, and one might anticipate the 2nd target at 140.00. The pivot point lies at 142.60. Resistancelevels: 144.25, 145.20, 146.05Assistance levels: 141.50, 140.00, 139.25 The material has been provided by InstaForex Company-www.instaforex.com

By | December 2, 2016

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GBP/JPY is expected to trade with bullish bias above 142.60. The pair has pulled back on its key support at 142.60, representing the current 50-period moving average, which is still heading upward, and should act as a strong support role. The relative strength index is bullish above its neutrality level at 50. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Hence, as long as 144.25 holds as the key support, the pair is expected to rise toward 145.20 at first.

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 144.25 and the second one at 145.20. In the alternative scenario, short positions are recommended with the first target at 141.50 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 140.00. The pivot point lies at 142.60.

Resistance levels: 144.25, 145.20, 146.05

Support levels: 141.50, 140.00, 139.25

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

Jonathon Alexander

Technical analysis of USD/JPY for Dec 02, 2016 888011000 110888 In Asia, Japan will release the Monetary Base y/y, and the US will launch some Economic Data, such as Unemployment Rate, Non-Farm Work Modification, and AverageHourly Earnings m/m. There is a likelihood the USD/JPY will move with medium to high volatility during this day.TODAY’S TECHNICAL LEVEL: Resistance. 3: 114.38. Resistance. 2: 114.15. Resistance. 1: 113.93. Assistance. 1: 113.67. Support. 2: 113.44. Support. 3: 113.22. Disclaimer: Trading Forex(foreign exchange)on margin brings a high level of threat, and might not be suitable for all financiers. The high degree of utilize can work versus you in addition to for you. Prior to choosing to invest in forex you must thoroughly consider your financial investment goals, level of experience, and threat appetite. The possibility exists that you might sustain a loss of some or all of your initial financial investment and therefore you need to not invest cash that you can not pay for to lose. You ought to be aware of all the dangers connected with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.The product has actually been supplied by InstaForex Business-www.instaforex.com

By | December 2, 2016

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In Asia, Japan will release the Monetary Base y/y, and the US will release some Economic Data, such as Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a probability the USD/JPY will move with medium to high volatility during this day.

TODAY’S TECHNICAL LEVEL:

Resistance. 3: 114.38.

Resistance. 2: 114.15.

Resistance. 1: 113.93.

Support. 1: 113.67.

Support. 2: 113.44.

Support. 3: 113.22.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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

Jonathon Alexander

Asian Markets in red ahead of Nfp Task Data, Gold Greater

By | December 2, 2016

All the significant Asian indices were trading on a lower note on the last working day of the week. The essential occasion for the day is U.S. NFP task information. On the other side, gold and silver were trading marginally higher in early hours of Asia. Gold was trading around$1,174 and silver was trading around$16.55 marks. South Korea & rsquo; s Kospi was trading 0.81 percent lower at 1,967.36 points. Tokyo ' s Nikkei was trading 0.58 percent lower at 18,405.22 points. Shanghai composite index to open down 0.1 pct at 3,270.12 points and China ' s CSI300 index to open down 0.2 pct at 3,559.77 points. Hong Kong'' s Hang Seng was trading 0.93 percent lower at 22,666.00 points.

Australia'' s S&P/ ASX 200 was trading 0.74 percent lower at 5,459.60 points.The material has been supplied by InstaForex Business-< a href ='https://www.instaforex.com/' >
www.instaforex.com

Jonathon Alexander