Technical analysis of USD/JPY for March 24, 2017 888011000 110888 USD/JPY is under pressure. The pair is combining listed below its 50-period moving average, which is playing a resistance function. Furthermore, 111.75 represents a substantial essential resistance level, which ought to limit the upside capacity. The relative strength index is below its neutrality level at 50 and lacks upward momentum. As long as111.75 hangs on the upside, try to find a further drop toward 110.55. A break listed below this level would call for an additional decline towards 110.05. The set is trading listed below its pivot point. It is likely to sell a lower variety as long as it stays below the pivot point. Short positions are advised with the first target at 110.55. A break listed below this target will move the pair further downwards to 110.05. The pivot point stands at 111.75. If the cost moves in the opposite instructions and recuperates from the support level, it will move above its pivot point. It is likely to move even more to the upside. According to that scenario, long positions are advised with the first target at 112.25 and the 2nd one at 112.90. Resistance levels: 112.25, 112.90, and 113.50 Assistance levels: 110.55, 110.05, and 110.65 The material has been provided by InstaForex Company-www.instaforex.com

By | March 24, 2017

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USD/JPY is under pressure. The pair is consolidating below its 50-period moving average, which is playing a resistance role. Additionally, 111.75 represents a significant key resistance level, which should limit the upside potential. The relative strength index is below its neutrality level at 50 and lacks upward momentum.

As long as 111.75 holds on the upside, look for a further drop toward 110.55. A break below this level would call for a further decline toward 110.05.

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 110.55. A break below this target will move the pair further downwards to 110.05. The pivot point stands at 111.75. If the price moves in the opposite direction and bounces back from the support level, it will move 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 112.25 and the second one at 112.90.

Resistance levels: 112.25, 112.90, and 113.50

Support levels: 110.55, 110.05, and 110.65

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

Jonathon Alexander

EUR/JPY has actually made a bearish channel exit, time to start offering

By | March 23, 2017

The rate has made a bearish channel exit with its revenue target potential at 119.15(Fibonacci extension, Fibonacci retracement ). Our aim is to offer listed below the 120.35 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to that level.The MACD is

in a strong bearish setup signalling that even more bearish motion is expected.Sell listed below 120.35. Stop loss at 120.74. Take profit at 119.15. The product has been offered by InstaForex Company – www.instaforex.com

Jonathon Alexander

NZD/USD testing our selling location, remain bearish

By | March 23, 2017

The price continues to check our offering location as expected and is seeing a great bearish response below the 0.7065 resistance(Fibonacci retracement, Fibonacci extension)where we expect a drop to at least the 0.6968 assistance (Fibonacci retracement, recent swing low support). We can see that the cost has made a bearish exit in a comparable fashion to Stochastic, which offers us more powerful conviction of a drop from here.Stochastic(21,5,3) sees significant resistance at 95%and has bearish divergence; while the price signals that a strong drop is impending as it has made a bearish exit.Sell listed below 0.7065. Stop loss at 0.7113.

Take profit at 0.6968. The material has been offered by InstaForex Company-www.instaforex.com

Jonathon Alexander

Elliott wave analysis of EUR/NZD for March 23 – 2017 888011000 110888 Wave summary: The correction in wave [iv] drags out in time, indicating that a triangle consolidation could be unfolding. That does not modify the expectation of a rally greaterto a minimum of 1.5537 and more likelyeven betterto 1.5764 tototal wave [v] and wave i. R3: 1.5441 R2: 1.5382 R1: 1.5320 Pivot: 1.5300 S1: 1.5263 S2: 1.5230 S3: 1.5175 Trading suggestion: We are long EUR from 1.5170 with stop put at 1.5160. The material has actually been provided by InstaForex Business-www.instaforex.com

By | March 23, 2017

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Wave summary:

The correction in wave [iv] drags out in time, indicating that a triangle consolidation could be unfolding. That does not alter the expectation of a rally higher towards at least 1.5537 and more likely even closer to 1.5764 to complete wave [v] and wave i.

R3: 1.5441

R2: 1.5382

R1: 1.5320

Pivot: 1.5300

S1: 1.5263

S2: 1.5230

S3: 1.5175

Trading recommendation:

We are long EUR from 1.5170 with stop placed at 1.5160.

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

Jonathon Alexander

NZD/USD essential analysis for March 23, 2017 888011000 110888 NZD had a crucial event today which was the Authorities Cash Rate throughout the RBNZ Rate Declaration which was remained the same at 1.75% as anticipated. As the bounce off the 0.6900 area the rate is currently heading upwards with a spontaneous manner with the help of increased in Joblessness Claims report of USD. Today USD Joblessness Claims report was published with an increased figure of 258k which was anticipated to be at 240k and Currently FED Chair Yellen is speaking about the approaching rate choices. So, today the marketplace is rather unpredictable as we observed but since weak USD data released today, it is anticipated that NZD will get more against USD in the future.Now let us look atthe technical view, as of negative reports of USD Joblessness claims and confused structure of the rate of interest trek, USD is presently weaker than NZD. The price has bounced off from the vibrant assistance of 20 EMA and presently heading towards 0.7130 and any rejection or break off the level 0.7130 will indicate the future relocations. Presently bullish move towards 0.7130 is expected.The material has been supplied by InstaForex Company – www.instaforex.com

By | March 23, 2017

NZD had an important event today which was the Official Cash Rate during the RBNZ Rate Statement which was remained unchanged at 1.75% as expected. As the bounce off the 0.6900 area the price is currently heading upwards with an impulsive manner with the help of increased in Unemployment Claims report of USD. Today USD Unemployment Claims report was published with an increased figure of 258k which was expected to be at 240k and Currently FED Chair Yellen is speaking about the upcoming rate decisions. So, today the market is quite volatile as we observed but as of weak USD data published today, it is expected that NZD will gain more against USD in the future.

Now let us look at the technical view, as of negative reports of USD Unemployment claims and confused structure of the interest rate hike, USD is currently weaker than NZD. The price has bounced off from the dynamic support of 20 EMA and currently heading towards 0.7130 and any rejection or break off the level 0.7130 will indicate the future moves. Currently bullish move towards 0.7130 is expected.

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

Jonathon Alexander

USD/CAD fundamental analysis for March 23, 2017 888011000 110888 Today was an essential day for CAD as Yearly Budget report was released today with some favorable policies to be taken for the betterment of the country. In addition to the essential CAD event, today USD had Unemployment Claims report which showed a boost at 258k which was expected to be at 240k, a boost in the New Home Sales report at 592k which was anticipated to be at 566k and FED Chair Yellen is also presently speaking about the rates of interest today. So, overall a great number of volatility has actually currently struck the currency pair but with negative high-impact report like Joblessness claims and confused rate hike decisions USD is presently getting controlled by CAD and it is expected that the price will continue falling downwards soon.Now let uslook at the technical view, the cost has actually broken listed below the channel assistance with a big spontaneous bearish pressure and we have actually also seen restorative retest structure heading to the channel for rejection. Currently the cost is simply below the resistance of 1.3372 and as the price stays listed below this resistance area it is expected that the rate will move downward to 1.3220 support level. The product has been supplied by InstaForex Company -www.instaforex.com

By | March 23, 2017

Today was an important day for CAD as Annual Budget report was released today with some positive policies to be taken for the betterment of the country. Along with the important CAD event, today USD had Unemployment Claims report which showed an increase at 258k which was expected to be at 240k, an increase in the New Home Sales report at 592k which was expected to be at 566k and FED Chair Yellen is also currently speaking about the interest rates today. So, overall a good number of volatility has already hit the currency pair but with negative high-impact report like Unemployment claims and confused rate hike decisions USD is currently getting dominated by CAD and it is expected that the price will continue falling downwards soon.

Now let us look at the technical view, the price has broken below the channel support with a huge impulsive bearish pressure and we have also seen corrective retest structure heading towards the channel for rejection. Currently the price is just below the resistance of 1.3372 and as the price remains below this resistance area it is expected that the price will move downward towards 1.3220 support level.

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

Jonathon Alexander

U.S. Weekly Jobless Claims Unexpectedly Reach 258,000

By | March 23, 2017

A report released by the Labor Department on Thursday revealed an unforeseen increase in newbie claims for U.S. welfare in the week ended March 18th.

The report said preliminary unemployed claims reached 258,000, an increase of 15,000 from the previous week’s modified level of 243,000.

The increase stunned economic experts, who had actually anticipated out of work claims to edge down to 240,000 from the 241,000 initially reported for the previous week.

The Labor Department stated the less unstable four-week moving average also inched approximately 240,000, an increase of 1,000 from the previous week’s revised average of 239,000.

Meanwhile, the report said continuing claims, a reading on the variety of people getting ongoing joblessness assistance, fell by 39,000 to 2.0 million in the week ended March 11th.

The four-week moving average of continuing claims also dropped to 2,026,750, a decline of 32,000 from the previous week’s modified average of 2,058,750.

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

Jonathon Alexander

Day-to-day analysis of Gold for March 23, 2017 888011000 110888 Overview Gold price varies at the intraday bullish trend line that appears in the image. The stochastic reaches the limits of the oversold levels now, waiting on the price rally to resume the primary bullish trend. Its next target lies at 1,263.17, advising you that breaching 1,250.00 will strengthen the expectations for the extension of the anticipated increase. In general, the bullish predisposition will stay preferred in the approaching period unless breaking 1,231.13 level and holding listed below it. The expected trading variety for today is in between 1,235.00 support and 1,263.00 resistance. The material has actually been supplied by InstaForex Business-www.instaforex.com

By | March 23, 2017

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Overview

Gold price fluctuates at the intraday bullish trend line that appears in the image. The stochastic reaches the thresholds of the oversold levels now, waiting for the price rally to resume the main bullish trend. Its next target is located at 1,263.17, reminding you that breaching 1,250.00 will reinforce the expectations for the continuation of the expected rise. In general, the bullish bias will remain preferred in the upcoming period unless breaking 1,231.13 level and holding below it. The expected trading range for today is between 1,235.00 support and 1,263.00 resistance.

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

Jonathon Alexander