EUR/USD revenue target is reached, prepare to turn bearish once again

By | February 6, 2017

The cost has reached our profit target perfectly from previously. We stay bearish below major resistance at 1.0800(significant horizontal resistance, Fibonacci forecast )for a drop to 1.0708 support(Fibonacci retracement, horizontal pullback support ). Stochastic(21,5,3)has made a bearish exit previously and

still remains in a bearish configuration.Sell listed below 1.0800. Stop loss is at 1.0880. Take revenue is at 1.0708. The material has been provided by InstaForex Company- www.instaforex.com

Jonathon Alexander

AUD/JPY is checking resistance, remain bearish

By | February 6, 2017

We remain bearish listed below 86.52 resistance (Fibonacci projection, Fibonacci retracement )for a drop to 85.63 first(Fibonacci retracement, horizontal overlap support).

Stochastic (21,5,3) is seeing a good response off our 94% resistance level.Sell listed below 86.52

. Stop loss is at 86.75. Take revenue is at 85.63.

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

Jonathon Alexander

USD/JPY Fundamental Analysis for February 6, 2017 888011000 110888 Recently JPY has actually been at the edge with great supremacy over USD. Last week USD was affected by negative basic reports, which offered some push to JPY to progress even more because the marketplace bounced off from the 118 level. Today Typical Money Making report has been provided at the Asian Session which was forecasted to be 0.4% but the actual report was unfavorable, down to 0.1%. The report pushed JPY a bit higher versus USD however after hitting the nearby resistance at 112.50 the marketplace bounced off and continued its method downward. As there was no high-impact news on USD today, so it is anticipated that JPY is going to control USD further.Now let us take a look at technical view, the cost is heading to the assistance level of 112.00 and currently the market is revealing some bullish relocation towards the 112.50 location. If we see some bullish rejection in the intraday charts we will be looking forward to sell with a target towards 108.10 area, at 112.50 area. The material has actually been supplied by InstaForex Business-www.instaforex.com

By | February 6, 2017

Recently JPY has been at the edge with good dominance over USD. Last week USD was influenced by negative fundamental reports, which provided some push to JPY to progress further since the market bounced off from the 118 level. Today Average Cash Earning report has been issued at the Asian Session which was forecasted to be 0.4% but the actual report was negative, down to 0.1%. The report pushed JPY a bit higher against USD but after hitting the nearest resistance at 112.50 the market bounced off and continued its way downward. As there was no high-impact news on USD today, so it is expected that JPY is going to dominate USD further.

Now let us look at technical view, the price is heading towards the support level of 112.00 and currently the market is showing some bullish move towards the 112.50 area. At 112.50 area if we see some bullish rejection in the intraday charts we will be looking forward to sell with a target towards 108.10 area.

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

Jonathon Alexander

EUR/USD Essential Analysis for February 6, 2017 888011000 110888 USD has been dealing with some unfavorable effects in the economy because Donald Trump has actually begun taking his actions towards changing some policies in the US Economy. Last week NFP revealed a great increment of 227k in comparison to forecasted 170k which did boost the USD predisposition for in some cases but the 0.1% boost in Joblessness rate did strike USD down where EUR got ahead with a day-to-day bullish close above 1.0750 level. This week it is expected that EUR will control the USD market and we can see some greater prices in this pair.Now let ushave a look at technical view, the market is currently living inside the assistance location in between 1.0715-50 and the bears are presently in control of the market. In this case, the marketplace seems to be backtracking towards the support area and consolidating inside the location for upcoming bullish rate action to continue to 1.0850. It is very much expected that the price will lead to 1.0850 and if market breaks the resistance of 1.0850 it will advance up to 1.1060 level. On the other hand, if the marketplace breaks listed below 1.0700 with a day-to-day close we will change our medium-term bias to bearish and shift our target down towards 1.0630 as the very first assistance. The product has been provided by InstaForex Business-www.instaforex.com

By | February 6, 2017

USD has been facing some negative effects in the economy since Donald Trump has started taking his steps towards changing some policies in the US Economy. Last week NFP showed a good increment of 227k in comparison to forecasted 170k which did boost the USD bias for sometimes but the 0.1% increase in Unemployment rate did hit USD down where EUR got ahead with a daily bullish close above 1.0750 level. This week it is expected that EUR will dominate the USD market and we can see some higher prices in this pair.

Now let us take a look at technical view, the market is currently residing inside the support area between 1.0715-50 and the bears are currently in control of the market. In this case, the market seems to be retracing towards the support area and consolidating inside the area for upcoming bullish price action to continue towards 1.0850. It is very much expected that the price will lead towards 1.0850 and if market breaks the resistance of 1.0850 it will progress up towards 1.1060 level. On the other hand, if the market breaks below 1.0700 with a daily close we will change our medium-term bias to bearish and shift our target down towards 1.0630 as the first support.

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

Jonathon Alexander

EUR/NZD analysis for February 06, 2017 888011000 110888 Recently, EUR/NZD has been trading downwards. The price evaluated the level of 1.4665. Inning accordance with the 30M amount of time, I discovered hidden bearish divergence on moving average oscilator and breakout of support, which is an indication that purchasing looks dangerous. The pattern is still downward. My advice is to watch for offering opportunities. I haveput Fibonacci expansion to discover possible down target. I got Fibonacci growth 161.8%at the cost of 1.4620. FibonacciPivot Points : Resistance levels: R1: 1.4750 R2: 1.4800 R3: 1.4840 Support levels: S1: 1.4715 S2: 1.4695 S3:1.4660 Trading suggestions for today: expect prospective selling opportunities.The material has actually been supplied by InstaForex Business-www.instaforex.com

By | February 6, 2017

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Recently, EUR/NZD has been trading downwards. The price tested the level of 1.4665. According to the 30M time frame, I found hidden bearish divergence on moving average oscilator and breakout of support, which is a sign that buying looks risky. The trend is still downward. My advice is to watch for selling opportunities. I have placed Fibonacci expansion to find potential downward target. I got Fibonacci expansion 161.8% at the price of 1.4620.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.4750

R2: 1.4800

R3: 1.4840

Support levels:

S1: 1.4715

S2: 1.4695

S3: 1.4660

Trading recommendations for today: watch for potential selling opportunities.

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

Jonathon Alexander

Elliott wave analysis of EUR/NZD for February 6 – 2017

By | February 6, 2017

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Wave summary:

The correction from 1.9114 has extended and seen a new low at 1.4650. As long as minor resistance at 1.4945 is able to cap the upside, we need to allow for slightly lower to 1.4560 to complete this extremely complex ending diagonal, which has been unfolding since June 2016. Only a break above minor resistance at 1.4945 will ease the downside pressure, while a break above resistance at 1.5282 will be needed to confirm that wave 2 finally has completed and wave 3 has taken over for a new long-term impulsive rally that ultimately should take this cross above 1.9114.

R3: 1.5282

R2: 1.4953

R1: 1.4867

Pivot: 1.4675

S1: 1.4654

S2: 1.4560

S2: 1.4449

Trading recommendation:

Our top at 1.4650 has been hit for a loss. We will only buy a break above 1.4945.

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

Jonathon Alexander

Elliott wave analysis of EUR/JPY for February 6 – 2017 888011000 110888 Wave summary: As long as assistance at 120.50 continue to secure the drawback, we will be searching fora break above minor resistance at 122.03 and more significantly a break above resistance at 122.99 that validates more upside to 126.54 to complete wave 3. If assistance at 120.50 provides away, it will extend the correction in wave(iv)lower to 119.14 prior to wave(v). Weshould expectedthe rally higher to 126.54. R3: 122.52 R2: 122.03 R1: 121.76 Pivot: 121.05 S1: 120.99 S2: 120.50 S3: 120.20 Trading suggestion: Our stop at 121.90 was hit for a little earnings. We are seeking to purchase a break above 121.76. The product has been offered by InstaForex Business-www.instaforex.com

By | February 6, 2017

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Wave summary:

As long as support at 120.50 continue to protect the downside, we will be looking for a break above minor resistance at 122.03 and more importantly a break above resistance at 122.99 that confirms more upside towards 126.54 to complete wave 3.

However, if support at 120.50 gives away, it will extend the correction in wave (iv) lower towards 119.14 before wave (v). We should expected the rally higher towards 126.54.

R3: 122.52

R2: 122.03

R1: 121.76

Pivot: 121.05

S1: 120.99

S2: 120.50

S3: 120.20

Trading recommendation:

Our stop at 121.90 was hit for a small profit. We are looking to buy a break above 121.76.

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

Jonathon Alexander

Technical analysis of GBP/USD for February 06, 2017 888011000 110888 Summary: The GBP/USD set has been relocating a bullish trend from the support levels of 1.2473, 1.2380 and 1.2287 because recently. There are no changes in our technical outlook. The predisposition stays bullish in the nearest term testing 1.2681 or greater. Currently, the rate is in a bullish channel. This is validated by the RSI indicator signaling that we are still in a bullish trending market. As the cost is still above the moving average (100 ), instant support is seen at 1.2380 and 1.2473, while the weekly strong support is discovered at 1.2287. The very first support is set at the level of 1.2380. The market is most likely to show indications of a bullish pattern around the area of 1.2380- 1.2450. Simply puts, purchase orders are recommended above the 1.2450 level with the very first target at the level of 1.2605. In addition, if the pattern has the ability to break through the first resistance level of 1.2605, we will see the set climbing up towards the double leading(1.2774 )to evaluate it in coming days. Thus, the market is indicating a bullish opportunity above the assistance levels of 1.2380-1.2450, for that the bullish outlook stays the like long as the 100 EMA is headedto the upside. It would also be wise to think about where to place a stop loss; this ought to be set below the2ndsupport of 1.2287. The product has been supplied by InstaForex Company-www.instaforex.com

By | February 6, 2017

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Overview:

  • The GBP/USD pair has been moving in a bullish trend from the support levels of 1.2473, 1.2380 and 1.2287 since last week. There are no changes in our technical outlook. The bias remains bullish in the nearest term testing 1.2681 or higher.
    Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), immediate support is seen at 1.2380 and 1.2473, while the weekly strong support is found at 1.2287. Consequently, the first support is set at the level of 1.2380. The market is likely to show signs of a bullish trend around the spot of 1.2380 – 1.2450. In other words, buy orders are recommended above the 1.2450 level with the first target at the level of 1.2605.
  • Furthermore, if the trend is able to break through the first resistance level of 1.2605, we will see the pair climbing towards the double top (1.2774) to test it in coming days. Thus, the market is indicating a bullish opportunity above the support levels of 1.2380 – 1.2450, for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside. It would also be wise to consider where to place a stop loss; this should be set below the second support of 1.2287.

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

Jonathon Alexander