Elliott wave analysis of EUR/NZD for October 10, 2017 888011000 110888 < imgwidth=” 450″src =”http://qkfx.com/wp-content/uploads/2017/10/elliott-wave-analysis-of-eurnzd-for-october-10-2017.png”alt=”analytics59dc58de1f371.png”/ > Wave summary: EUR/NZD needs to quickly secure the”old”top at 1.6690 for an extension higher towards 1.6712 and after a small consolidation, an extension greater to 1.7038 must be anticipated. Support is now seen at 1.6561, which preferably will secure the drawback for therally to 1.6712. Needs to a break below 1.6561be seen, that will extend the correction lower to supportat 1.6487 prior to moving greater again. R3: 1.6763 R2: 1.6712 R1: 1.6690 Pivot: 1.6650 S1: 1.6627 S2: 1.6561 S3: 1.6487 Trading recommendation: We are long EUR from 1.6365 and will move our stop higher to 1.6465. If you are not long EUR yet, then buy near 1.6561 and use the exact same stop at 1.6465. The product has been provided by InstaForex Business- www.instaforex.com

By | October 10, 2017

analytics59dc58de1f371.png

Wave summary:

EUR/NZD should soon take out the “old” top at 1.6690 for a continuation higher towards 1.6712 and after a minor consolidation, a continuation higher to 1.7038 should be expected. Support is now seen at 1.6561, which ideally will protect the downside for the rally to 1.6712. Should a break below 1.6561 be seen, that will extend the correction lower to support at 1.6487 before moving higher again.

R3: 1.6763

R2: 1.6712

R1: 1.6690

Pivot: 1.6650

S1: 1.6627

S2: 1.6561

S3: 1.6487

Trading recommendation:

We are long EUR from 1.6365 and will move our stop higher to 1.6465. If you are not long EUR yet, then buy near 1.6561 and use the same stop at 1.6465.

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

Jonathon Alexander

Elliott wave analysis of EUR/JPY for October 10, 2017 888011000 110888 < imgwidth=”450″ src =”http://qkfx.com/wp-content/uploads/2017/10/elliott-wave-analysis-of-eurjpy-for-october-10-2017.png”alt =”analytics59dc573eedb37.png”/ > Wave summary: We continue to look for resistance at 132.77 and more importantly resistance at 132.89 to top the upside for a decline listed below minor support at 131.70 that will require a decrease to at least 130.37 and perhaps lower. Mustresistance at 132.89 be broken, that would require an extension greaterto 133.25 prior to turning lower again.R3:133.25 R2: 133.89 R1: 132.77 Pivot: 132.50 S1: 132.41 S2: 132.16 S3: 131.94 Trading recommendation: We are brief EUR from 133.00 with stop put at 132.80. Sell near 132.77 and utilize the same stop at 132.80 if you are not short-EUR yet. The product has been provided by InstaForex Company-www.instaforex.com

By | October 10, 2017

analytics59dc573eedb37.png

Wave summary:

We continue to look for resistance at 132.77 and more importantly resistance at 132.89 to cap the upside for a decline below minor support at 131.70 that will call for a decline towards at least 130.37 and possibly lower.

Should resistance at 132.89 be broken, that would call for a continuation higher to 133.25 before turning lower again.

R3: 133.25

R2: 133.89

R1: 132.77

Pivot: 132.50

S1: 132.41

S2: 132.16

S3: 131.94

Trading recommendation:

We are short EUR from 133.00 with stop placed at 132.80. If you are not short-EUR yet, then sell near 132.77 and use the same stop at 132.80.

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

Jonathon Alexander

BRAZIL: Ibovespa Falls With Political Tension, Vale And Steelmakers

By | October 10, 2017

Ibovespa, the benchmark stock index in Brazil, fell 0.43%, closing at 75,726.80 points Monday in a day of reduced trading volume due to a holiday in the United States.

In the local scene, Ibovespa’s efficiency was impacted by doubts on the commitment of Rodrigo Maia, your home of Representatives’ speaker, to the Brazilian President, Michel Temer.

Market players now have doubts that Maia would once again shield Temer after a brand-new criminal grievance was dealt with to the Congress.

“It is ending up being progressively hard to authorize pension reform, and the market is seeing signs that Maia could leave Temer by himself,” said Jos? Costa, a financial expert at Codepe Corretora.

The deceleration of the purchasing managers index in China weighed on Vale’s and steelmakers’ shares. Vale’s shares fell 1.99%, Usiminas shares lost 1.71%, and CSN shares dropped 3.21%.

The in your area traded U.S. dollar increased for the 3rd successive trading session (+0.85%), to R$ 3.1870, tracking the greenback gratitude against the currencies of emerging nations. Monday’s motion reflected the increased stress between the United States and Turkey and the expectation of an increase in the United States fundamental interest rate.

Both Costa and Pedro Galdi, an expert at Magliano Corretora, kept in mind that Monday’s movement at Ibovespa was too much affected by profit-making. Since of Thursday’s vacation in Brazil, Galdi anticipates Ibovespa to stay between fall and stability during the week. Costa said that the enhancement at the end of the trading session made room for the index to open greater Tuesday.

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

Jonathon Alexander

ARGENTINA: Merval Falls Somewhat On Volatile Session

By | October 10, 2017

Merval, the primary index of the Buenos Aires Stock market, fell 0.11%, closing at 26,765.98 points Monday in an unstable trading session while market gamers wait for a profit-taking movement after the historical levels hit in the last two weeks.

Eduardo Fern?ndez, an analyst at Rava Burs?til, said that the leading shares fell “as if wishing to take a break after the strong gains accumulated in the last Thirty Days.”

Inning accordance with him, this movement occurs since “investors do not seem to wish to handle new positions in risk possessions” less than two weeks before legislative elections.

Likewise, financiers are waiting for the release of economic indicators, such as the Argentinean CPI for September, expected on Thursday, and the central bank’s decision on the fundamental rate of interest, to be revealed Tuesday.

The shares of Mirgor (+4.21%), Agrometal (+3.79%), Central Puerto (+3.09%), and Distribuidora de Gas (+2.31%) rose, while Costanera (-2,25%), Edenor (-2.02%), Macro (-1.91%), and Galicia (-1.81%) fell.

On the other hand, the locally traded U.S. dollar closed up 0.28%, at 17.46 Argentinean pesos, in the middle of low trading volume due to a vacation in the United States.

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

Jonathon Alexander

Dollar Mixed In Light Holiday Trade

By | October 9, 2017

The dollar is kipping down a blended performance against its significant rivals Monday afternoon, however is little altered general. The Columbus Day vacation is keeping a variety of financiers away from their desks at the start of the trading week. The vacation is also responsible for the absence of U.S. financial news.

The absence of financial information will continue throughout the early portion of the week. Traders can look forward to weekly jobless claims and the manufacturer rate index on Thursday. The consumer rate index, retail sales and customer belief are likewise slated for Friday.

Financiers will likewise be eagerly anticipating the release of the minutes from the most recent conference of the Federal Reserve Wednesday afternoon.

The dollar rose to an early high of $1.1719 against the Euro Monday, however has since retreated to around $1.1750.

Eurozone financier self-confidence reinforced to a 10-year high in October, study arises from think tank Sentix showed Monday. The financier confidence index increased unexpectedly to 29.7 in October from 28.2 in September. Ball game was anticipated to be up to 28.0.

Germany’s industrial production broadened the most since July 2011, signaling a strong development in the 3rd quarter, data from Destatis revealed Monday. Commercial output grew 2.6 percent month-on-month in August, reversing a modified 0.1 percent fall in July.

Production grew the most given that July 2011, when it climbed 2.9 percent. Output was forecast to get reasonably by 0.8 percent.

The buck fell to an early low of $1.3183 versus the pound sterling Monday, but has actually considering that recuperated to around $1.3150.

UK customer costs decreased in September, after a modest gain in the previous month, suggesting ongoing weak point in the economy in the middle of high inflation, muted wage development and political uncertainty, results of a study by payment providers Visa revealed Monday.

Consumer costs dropped 0.3 percent year-on-year following a 0.2 percent gain in August, Visa said, pointing out the study based upon credit, debit and prepaid card information. Costs has actually now dropped in 4 of the previous 5 months.

The greenback has actually reached around Y112.665 against the Japanese Yen Monday afternoon, from an early low of Y112.521.

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

Jonathon Alexander

Day-to-day analysis of USDX for October 10, 2017 888011000 110888 USDX continues to remain in a corrective relocation that indicates test the 200 SMA, according to the H1 chart. Around that area we can anticipate a rebound to take place towards the resistance level of 94.04, at which a breakout needs to open the doors to reach the 94.58 level in a very first degree. MACD indication still remains flat and brand-new positions at this phase are not recommended. H1 chart’s resistance levels: 94.04/ 94.58 H1 chart’s assistance levels: 93.00/ 91.67 Trading recommendations for today: Based on the H1 chart, place buy(long )orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 94.04, take revenue is at 94.58 and stop loss is at 93.50. The material has actually been supplied by InstaForex Company- www.instaforex.com

By | October 9, 2017

USDX continues to be in a corrective move that points to test the 200 SMA, according to the H1 chart. Around that area we can expect a rebound to take place towards the resistance level of 94.04, at which a breakout should open the doors to reach the 94.58 level in a first degree. MACD indicator still remains flat and new positions at this stage are not advisable.

1507564294_USDXH1.png

H1 chart’s resistance levels: 94.04 / 94.58

H1 chart’s support levels: 93.00 / 91.67

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 94.04, take profit is at 94.58 and stop loss is at 93.50.

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

Jonathon Alexander

Day-to-day analysis of GBP/USD for October 10, 2017 888011000 110888 GBP/USD has relocated a bullish tone throughout Monday’s session, combining gains slightly above the 1.3100 handle. The set is now anticipated to break above the resistance level of 1.3195 in order to publish new highs above the 200 SMA on H1 chart. Around the moving average, pullbacks are anticipated to occur. MACD sign is entering the overbought conditions, calling for more decreases. H1 chart’s resistance levels: 1.3195/ 1.3309 H1 chart’s support levels: 1.3037/ 1.2914 Trading suggestions for today: Based on the H1 chart, sell (short)orders just if the GBP/USD set breaks a bearish candlestick; the support level is at 1.3037, take profit is at 1.2914 and stop loss is at 1.3161. The material has actually been supplied by InstaForex Business- www.instaforex.com

By | October 9, 2017

GBP/USD has moved in a bullish tone during Monday’s session, consolidating gains slightly above the 1.3100 handle. The pair is now expected to break above the resistance level of 1.3195 in order to post new highs above the 200 SMA on H1 chart. Around the moving average, pullbacks are expected to take place. MACD indicator is entering the overbought conditions, calling for more declines.

1507564235_GBPUSDH1.png

H1 chart’s resistance levels: 1.3195 / 1.3309

H1 chart’s support levels: 1.3037 / 1.2914

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.3037, take profit is at 1.2914 and stop loss is at 1.3161.

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

Jonathon Alexander

Trading Plan for EUR/USD and US Dollar Index for October 09, 2017 888011000 110888 Technical outlook: The EUR/USD set has actually been forming a series of lower highs and lower lows since forming a prospective top at 1.2092 levels earlier. Looking at the existing price action, a short-term hourly structure has been presented here for trade direction in the next 1-2 days. The pattern that is taking shape at the minute might be of an ending diagonal, which unfolds into 5 waves (identified i through iv here )with each wave sub dividing into 3 waves. Rates must ideally remain listed below 1.1786 levels and press lower through 1.1660 levels at least if the above wave count holds real. Please also note that 1.1660 is likewise previous cost assistance seen on the 4H chart view and that could be the next short-term target prior to bulls come back into play. Additionally, please comprehend that any rallies after that must be restorative and taken as opportunities to go short again. Immediate rate resistance is at 1.1786 while assistance is at 1.1660 levels respectively.Trading strategy: Aggressive: Please remain short with stop above 1.1786 and target lower at 1.1660/ 70. Conservative: Pleaseaim to go long at lower levels 1.1660/ 70, targeting 1.1830 and 1.1900/ 30. United States Dollar Index chart setups: Technical outlook: The United States Dollar Index has actually been consistently forming greater highs and higher lows since printing lows at 91.00 levels back in September 2017. Besides, its uptrend channel assistance pattern line stays well intact without breaking below any lows also. Taking a look at the current wave pattern, the US Dollar Index might be producing a possible ending diagonal structure and could be into its last leg rally, which could press through 94.50 levels. If this wave count holds to be true, the index would stay above 93.25 levels and aim to press through its channel resistance line which is seen going through 94.40/ 50 levels in the meantime. On the other hand, a drop listed below 93.25 levels would suggest an intermediate top remains in location and that rates ought to want to backtrack lower. Immediate assistance is at 93.25 while resistance is seen at 94.40/ 50 levels respectively.Trading strategy: Immediate short term, please remain long with danger listed below 93.25 and target 94.40/ 50 Medium term technique would be to remain flat in the meantime and aim to offer higher at 94.40/ 50 Fundamental outlook: No significant occasions are lined up for the rest of the day.Good luck!The material has actually been supplied by InstaForex Business-www.instaforex.com

By | October 9, 2017

analytics59db781673af7.jpg

Technical outlook:

The EUR/USD pair has been forming a series of lower highs and lower lows since forming a potential top at 1.2092 levels earlier. Looking at the current price action, a short-term hourly structure has been presented here for trade direction in the next 1-2 days. The pattern that is taking shape at the moment could be of an ending diagonal, which unfolds into 5 waves (labelled i through iv here) with each wave sub dividing into 3 waves. If the above wave count holds true, prices should ideally remain below 1.1786 levels and push lower through 1.1660 levels at least. Please also note that 1.1660 is also previous price support seen on the 4H chart view and that could be the next short-term target before bulls come back into play. Furthermore, please understand that any rallies after that should be corrective and taken as opportunities to go short again. Immediate price resistance is at 1.1786 while support is at 1.1660 levels respectively.

Trading plan:

Aggressive: Please remain short with stop above 1.1786 and target lower at 1.1660/70.

Conservative: Please look to go long at lower levels 1.1660/70, targeting 1.1830 and 1.1900/30.

US Dollar Index chart setups:

analytics59db7aa6077e3.jpg

Technical outlook:

The US Dollar Index has been consistently forming higher highs and higher lows since printing lows at 91.00 levels back in September 2017. Besides, its uptrend channel support trend line remains well intact without breaking below any lows as well. Looking at the recent wave pattern, the US Dollar Index might be producing a potential ending diagonal structure and could be into its last leg rally, which could push through 94.50 levels. If this wave count holds to be true, the index would stay above 93.25 levels and look to push through its channel resistance line which is seen passing through 94.40/50 levels for now. On the flip side, a drop below 93.25 levels would indicate an intermediate top is in place and that prices should look to retrace lower. Immediate support is at 93.25 while resistance is seen at 94.40/50 levels respectively.

Trading plan:

Immediate short term, please remain long with risk below 93.25 and target 94.40/50

Medium term strategy would be to remain flat for now and look to sell higher at 94.40/50

Fundamental outlook:

No major events are lined up for the rest of the day.

Good luck!

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

Jonathon Alexander

Bitcoin analysis for October 09, 2017 888011000 110888 The Bitcoin( BTC)has been trading upwards. As I expected, the price evaluated the level of$4.617 owned on the news that Malaysia reserve bank Governor is taking bitcoin cues from China. His glib statements are drawing in widespread local attention, as Southeast Asia’s 4th biggest economy attempts to reconcile notorious monetary conservatism with extreme monetary modification. Anyway, present technical sugest that buyers ought to be careful about buying.Trading recommendations: Inning accordance with the 4H amount of time, I found strong resistance on the test at the cost of $ 4.615. I found increasing wedge development in production, which is a sign that buying looks really risky. The upward trendline is on the test and my guidance is to look for prospective selling chances. The down targets are set at the price of $ 4.423 and$ 4.340. Support/Resistance$4.615-Short-term resistance (price action) $4.660– Short-term resistance cluster (cost action)$4.535– Intraday assistance (price action)$4.423– First down goal (price action)With InstaForex you can make on cryptocurrency’s motions right now.Just open a handle your MetaTrader4.The product has been provided by InstaForex Company-www.instaforex.com

By | October 9, 2017

analytics59db6ffa9ee64.png

The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $4.617 driven on the news that Malaysia central bank Governor is taking bitcoin cues from China. His glib statements are attracting widespread regional attention, as Southeast Asia’s 4th largest economy attempts to reconcile notorious financial conservatism with radical financial change. Anyway, current technical sugest that buyers should be careful about buying.

Trading recommendations:

According to the 4H time frame, I found strong resistance on the test at the price of $4.615. I found rising wedge formation in creation, which is a sign that buying looks very risky. The upward trendline is on the test and my advice is to watch for potential selling opportunities. The downward targets are set at the price of $4.423 and $4.340.

Support/Resistance

$4.615 – Short term resistance (price action)

$4.660 – Short-term resistance cluster (price action)

$4.535 – Intraday support (price action)

$4.423 – First downward objective (price action)

With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.

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

Jonathon Alexander