GBP/USD fundamental analysis for February 17, 2017 888011000 110888 GBP had a terrific fall after Retail Sales report today which was expected to be 1.0% and which came out to be 0.3%. A deficit of -0.7% pup pressure on GBP to have a great fall from 1.2520 to 1.2410 and continuing to go downwards. Yesterday USD Building authorizations had a favorable result of 1.29 M which was expected to be 1.23 M; Philly FED Production Index was 43.3 which was expected to be 18.5; and Joblessness Claims was 239K which was expected to be 243K. With USD and GBP Essential news context, GBP fall was rather predictive after Retail Sales report. The price is expected to fall much lower as USD is stronger today.Now let us take a look at the technical view, presently the rate is heading lower to 1.2120 after breaking below 1.2400-20 location. If the market presents a day-to-day close today below 1.24, it is expected that the rate will move much lower towards the next assistance at 1.2120. On the other hand, if the rate rejects from 1.2400-20 with a bearish rejection we will be eagerly anticipating buy with a target to 1.2520 on the next week. The product has been supplied by InstaForex Business-www.instaforex.com

By | February 17, 2017

GBP had a great fall after Retail Sales report today which was expected to be 1.0% and which came out to be 0.3%. A deficit of -0.7% pup pressure on GBP to have a great fall from 1.2520 to 1.2410 and continuing to go downwards. Yesterday USD Building permits had a positive result of 1.29M which was expected to be 1.23M; Philly FED Manufacturing Index was 43.3 which was expected to be 18.5; and Unemployment Claims was 239K which was expected to be 243K. With USD and GBP Fundamental news context, GBP fall was quite predictive after Retail Sales report. The price is expected to fall much lower as USD is stronger today.

Now let us look at the technical view, currently the price is heading lower towards 1.2120 after breaking below 1.2400-20 area. If the market presents a daily close today below 1.24, it is expected that the price will move much lower towards the next support at 1.2120. On the other hand, if the price rejects from 1.2400-20 with a bearish rejection we will be looking forward to buy with a target towards 1.2520 on the next week.

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

Jonathon Alexander

Technical analysis of USDX for February 17, 2017 888011000 110888 The Dollar index has reached essential short-term assistance. Is the entire pullback over or is it simply the very first part? As long as the cost is trading above 99.20 we remain bullish for the Dollar, as the low could very well be completion of wave 4, while the existing bounce might be the start of the brand-new leg up to new highs. The Dollar index has reached the Ichimoku cloud assistance and the 50%retracement of the current rise. This might bethe whole pullback and we might see the start of a brand-new uptrend from the existing levels. Crucial short-term support is at the 100.20 level and the 61.8%Fibo. The Dollar index might also be forming a head and shoulders pattern. The neck line support is at 99-99.20 and if we break below that level we must anticipate the Dollar index to fall to 95. Daily resistance is at 101.70. A break above that level will verify the initial bullish scenario that wave 4 was total at the current low at 99.20. The material has actually been provided by InstaForex Company -www.instaforex.com

By | February 17, 2017

The Dollar index has reached important short-term support. Is the entire pullback over or is it just the first part? As long as the price is trading above 99.20 we remain bullish for the Dollar, as the low could very well be the end of wave 4, while the current bounce could be the start of the new leg up to new highs.

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The Dollar index has reached the Ichimoku cloud support and the 50% retracement of the recent rise. This could be the entire pullback and we could see the start of a new uptrend from the current levels. Important short-term support is at the 100.20 level and the 61.8% Fibo.

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The Dollar index could also be forming a head and shoulders pattern. The neckline support is at 99-99.20 and if we break below that level we should expect the Dollar index to fall towards 95. Daily resistance is at 101.70. A break above that level will confirm the initial bullish scenario that wave 4 was complete at the recent low at 99.20.The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Technical analysis of gold for February 17, 2017 888011000 110888 The cost of gold is in a bullish short-term pattern. The rate has actually reversed from $1,216 and is aiming to break highs recorded this year of $1,244.50. We may see a pullback but total technical photo is bullish and our target of $1,280-$1,320 stays valid. Red line- resistance( damaged)Black line -assistance Gold is trading above the 4-hour cloud assistance. Trend is bullish. Short-term support is at$1,237 and the next is at $1,232where the upper cloud boundary is found. I do not expect the cost to break this week’s low. On the other hand, I expect Gold to continue greater towards$ 1,280 a minimum of. Black line-long-term resistance The weekly kijun-sen(yellow line sign)is at $1,237.50 and as long as we trade above it and close the week above it, my target of $1,280 might be achieved until completion of the month. I anticipate Gold rate to move to the upper cloud border and test the long-lasting resistance pattern line.The material has actually been provided by InstaForex Business- www.instaforex.com

By | February 17, 2017

The price of gold is in a bullish short-term trend. The price has reversed from $1,216 and is trying to break highs recorded this year of $1,244.50. We might see a pullback but overall technical picture is bullish and our target of $1,280-$1,320 remains valid.

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Red line – resistance (broken)

Black line – support

Gold is trading above the 4-hour cloud support. Trend is bullish. Short-term support is at $1,237 and the next is at $1,232 where the upper cloud boundary is found. I do not expect the price to break this week’s low. On the other hand, I expect Gold to continue higher towards $1,280 at least.

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Black line – long-term resistance

The weekly kijun-sen (yellow line indicator) is at $1,237.50 and as long as we trade above it and close the week above it, my target of $1,280 could be achieved until the end of the month. I expect Gold price to move towards the upper cloud boundary and test the long-term resistance trend line.

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

Jonathon Alexander

Daily analysis of significant pairs for February 17, 2017 888011000 110888 EUR/USD: The EUR/USD set went downwards from Monday till Wednesday and later on bounced upwards. The upwards bounce might be seen as an excellent opportunity to go short, although a movement above the resistance line at 1.0750 would threaten the bearish outlook, and a motion above the resistance line at 1.0800 would lead to a bullish signal. USD/CHF: The USD/CHF pair reached the resistance level at 1.0100, and then drew back. The pullback is ending up being major because it continued yesterday. Considering that the resistance level at 1.0000 has actually been breached to the drawback, it might be rather tough for the cost to move above it once again, which may result in another Bearish Confirmation Pattern in the market. GBP/USD: The GBP/USD pair has moved sideways so far this week, which is how the market would most likely end today. There will soon be a major breakout in the market, which would most likely press it to the downside, as the outlook on the GBP sets remains bearish for February. USD/JPY: This pair also went upwards from Monday to Wednesday, then got remedied downwards. The downward correction stays in place; and ought to it go further down, it may revoke the currently precarious bullish signal. The EMA 11 is above the EMA 56, but the RSI period 14 is listed below the level 50. EUR/JPY: This currency trading instrument is rather choppy and directionless. It is better to stay away from the market till there would be a directional movement, whichwould occur before completion of this week or early next week . When the market begins trending seriously, it will be primarily in favor of the bulls. The material has been supplied by InstaForex Company- www.instaforex.com

By | February 17, 2017

EUR/USD: The EUR/USD pair went downwards
from Monday till Wednesday and later bounced upwards. The upwards bounce could
be seen as a good opportunity to go short, although a movement above the
resistance line at 1.0750 would threaten the bearish outlook, and a movement
above the resistance line at 1.0800 would result in a bullish signal.

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USD/CHF: The USD/CHF pair reached the resistance level at 1.0100, and then pulled back. The pullback is becoming serious because it continued yesterday. Since the resistance level at 1.0000 has been breached to the downside, it might be somewhat difficult for the price to move above it again, which may lead to another Bearish Confirmation Pattern in the market.

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GBP/USD: The GBP/USD pair has moved
sideways so far this week, and that is how the market would probably end today.
However, there will soon be a serious breakout in the market, which would most
probably push it to the downside, as the outlook on the GBP pairs remains bearish
for February.

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USD/JPY: This pair also went
upwards from Monday to Wednesday, and then got corrected downwards. The
downward correction remains in place; and should it go further downwards, it
may invalidate the already precarious bullish signal. The EMA 11 is above the
EMA 56, but the RSI period 14 is below the level 50.

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EUR/JPY: This currency trading
instrument is quite choppy and directionless. It is better to stay away from
the market until there would be a directional movement, which would happen
before the end of this week or early next week. When the market starts trending
seriously, it will be mostly in favor of the bulls.

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

Jonathon Alexander

Elliott wave analysis of EUR/NZD for February 17, 2017 888011000 110888 Wave summary: Wave [ii] finished with the test of 1.4618, which was close to a perfect 61.8 %correction of wave [i] All we require now is a clear break above resistance at 1.4862 that validates a strong rally in wave [iii] greater to 1.5282 and in the long term much more upside closer to 1.5837is anticipatedhere. Support is now seen at 1.4735and, more notably, at 1.4695that is anticipated to safeguardthe downside for the break above 1.4862. R3: 1.4953 R2: 1.4890 R1: 1.4862 Pivot: 1.4825 S1: 1.4760 S2: 1.4735 S3: 1.4695 Trading recommendation: We are long EUR from 1.4740. We will move our stop greater to 1.4615. If you are shortly EUR yet, then buy a break above resistance at 1.4862 and position your stop at 1.4615 too. The product has been offered by InstaForex Company-www.instaforex.com

By | February 17, 2017

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Wave summary:

Wave [ii] completed with the test of 1.4618, which was close to a perfect 61.8% correction of wave [i]. All we need now is a clear break above resistance at 1.4862 that confirms a strong rally in wave [iii] higher to 1.5282 and in the long term much more upside closer to 1.5837 is expected here.

Support is now seen at 1.4735 and, more importantly, at 1.4695 that is expected to protect the downside for the break above 1.4862.

R3: 1.4953

R2: 1.4890

R1: 1.4862

Pivot: 1.4825

S1: 1.4760

S2: 1.4735

S3: 1.4695

Trading recommendation:

We are long EUR from 1.4740. We will move our stop higher to 1.4615. If you are not long EUR yet, then buy a break above resistance at 1.4862 and place your stop at 1.4615 too.

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

Jonathon Alexander

Elliott wave analysis of EUR/JPY for February 17, 2017 888011000 110888 Wave summary: We continue to search for a break above minor resistance seen at 121.05 and more importantly a break above resistance at 121.77 that will verify red wave iii higher to a minimum of 123.47 is unfolding. Short-term we expect small assistance seen at 120.65 will have the ability to safeguard the drawback for the expectedbreak above121.05. Nevertheless, a break listed below120.65 will delay the anticipated rally inred wave iii fora relocation better to 120.18 prior to higher once again. R3:122.01 R2: 121.73 R1: 121.33 Pivot: 120.95 S1: 120.65 S2: 120.18 S3: 120.10 Trading recommendation: We are long EUR from 120.15 with stop a break-even . Purchase a break above 121.05 and utilize the same stop at 120.15 if you are not long you yet. The product has actually been provided by InstaForex Company-www.instaforex.com

By | February 17, 2017

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Wave summary:

We continue to look for a break above minor resistance seen at 121.05 and more importantly a break above resistance at 121.77 that will confirm red wave iii higher to at least 123.47 is unfolding. Short-term we expect minor support seen at 120.65 will be able to protect the downside for the expected break above 121.05. However, a break below 120.65 will delay the expected rally in red wave iii for a move closer to 120.18 before higher again.

R3: 122.01

R2: 121.73

R1: 121.33

Pivot: 120.95

S1: 120.65

S2: 120.18

S3: 120.10

Trading recommendation:

We are long EUR from 120.15 with stop a break-even. If you are not long you yet, then buy a break above 121.05 and use the same stop at 120.15.

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

Jonathon Alexander

Technical analysis of EUR/USD for Feb 17, 2017 888011000 110888 When the European market opens, there’s no Economic Data will be launched, however the United States will release the financial data, such as CB Leading Index m/mand Current Account, so, amidst the reports, EUR/USD will move in a low tomedium volatility during this day.TODAY’STECHNICAL LEVEL: Breakout BUYLevel: 1.0720.Strong Resistance:1.0713. Initial Resistance: 1.0703. Inner Sell Area: 1.0693.Target Inner Area: 1.0668.Inner Buy Area: 1.0643. Original Assistance: 1.0633. Strong Assistance: 1.0623. Breakout SELL Level: 1.0616. Disclaimer: Trading Forex(forex)on margin brings a high level of risk, and may not appropriate for all investors. The high degree of take advantage of can work versus you along with for you. Prior to deciding to buy foreign exchange you need to thoroughly consider your financial investment objectives, level of experience, and danger cravings. The possibility exists that you could sustain a loss of some or all of your preliminary financial investment and therefore you should not invest cash that you can not pay for to lose. You ought to know all the risks connected with forex trading, and seek advice from an independent monetary consultant if you have any doubts.The product has been offered by InstaForex Company-www.instaforex.com

By | February 17, 2017

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When the European market opens, there’s no Economic Data will be released, but the US will release the economic data, such as CB Leading Index m/m and Current Account, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Breakout BUY Level: 1.0720.

Strong Resistance:1.0713.

Original Resistance: 1.0703.

Inner Sell Area: 1.0693.

Target Inner Area: 1.0668.

Inner Buy Area: 1.0643.

Original Support: 1.0633.

Strong Support: 1.0623.

Breakout SELL Level: 1.0616.

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

Technical analysis of USD/JPY for Feb 17, 2017 888011000 110888 In Asia, today Japan will not release any Economic Data, however the United States will launch someEconomic Data, such as CB Leading Index m/m and Bank account. So, there is a probability the USD/JPY will move with low to medium volatility during this day.TODAY’S TECHNICAL LEVEL: Resistance. 3: 114.02.Resistance. 2: 113.80. Resistance. 1: 113.57. Assistance. 1: 113.30. Support. 2: 113.08. Support. 3: 112.85. Disclaimer: Trading Forex(foreign exchange)on margin carries a high level of risk, and might not be suitable for all investors. The high degree of leverage can work against you in addition to for you. Before deciding to invest in foreign exchange you ought to carefully consider your investment objectives, level of experience, and danger cravings. The possibility exists that you could sustain a loss of some or all of your preliminary financial investment and therefore you should not invest cash that you can not pay for to lose. You ought to be aware of all the dangers related to foreign exchange trading, and consult from an independent monetary advisor if you have any doubts.The product has been offered by InstaForex Business-www.instaforex.com

By | February 17, 2017

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In Asia, today Japan will not release any Economic Data, but the US will release some Economic Data, such as CB Leading Index m/m and Current Account. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Resistance. 3: 114.02.

Resistance. 2: 113.80.

Resistance. 1: 113.57.

Support. 1: 113.30.

Support. 2: 113.08.

Support. 3: 112.85.

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