Technical analysis of NZD/USD for March 17, 2017 888011000 110888 Introduction: The NZD/USD pair was trading around the location of 0.7075-0.7004 Today, the level of 0.7075 represents the double leading on the H4 chart. Because it represents the weekly resistance 1, the pair has actually currently formed minor resistance at 0.7004 and the strong resistance is seen at the level of 0.7075. So, significant resistance is seen at 0.7004, while instant assistance is found at 0.6889. The NZD/USD pair might resume its motion to 0.6850 to evaluate the everyday assistance 2 if the set closes below the price of 0.6889. We expect the NZD/USD set to move between the levels of 0.7004 and 0.6850. Equally essential, the RSI is still calling for a strong bearish market. The present rate is also listed below the moving average 100. As an outcome, sell listed below the double top of 0.7004 with targets at 0.6869 and 0.6850.Stop loss needs to always be taken into account; accordingly, it will be excellent to set the stop loss above the last bullish wave at the level of 0.7075. The product has actually been supplied by InstaForex Company-www.instaforex.com

By | March 17, 2017

NZDUSDH4.png

Overview:

  • The NZD/USD pair was trading around the area of 0.7075- 0.7004 Today, the level of 0.7075 represents the double top on the H4 chart. The pair has already formed minor resistance at 0.7004 and the strong resistance is seen at the level of 0.7075 because it represents the weekly resistance 1. So, major resistance is seen at 0.7004, while immediate support is found at 0.6889. If the pair closes below the price of 0.6889, the NZD/USD pair may resume its movement to 0.6850 to test the daily support 2.
  • We expect the NZD/USD pair to move between the levels of 0.7004 and 0.6850. Equally important, the RSI is still calling for a strong bearish market. The current price is also below the moving average 100. As a result, sell below the double top of 0.7004 with targets at 0.6869 and 0.6850. However, stop loss should always be taken into account; accordingly, it will be good to set the stop loss above the last bullish wave at the level of 0.7075.

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

Jonathon Alexander

Trading plan for 17/03/2017

By | March 17, 2017

Trading prepare for 17/03/2017:

There is one important macroeconomic report on Friday 17th of March that market participants will watch on throughout the American trading session. It is the Preliminary University of Michigan Customer Sentiment Indicator data.EUR/ USD analysis for 17/03/2017:

The Preliminary UoM Customer Belief Indicator information are set up for release at 02:00 pm GMT and market individuals expect the information will beat the last month figure of 96.3 by printing 97.1 figure. The belief may increase greater mainly due to a series of excellent arise from the United States tasks market. Nevertheless, the index is currently near its previous highs and now may start to reverse to the mean. The momentum may bring the index greater from here, but the top is close, which is why the existing data release may be tough to trade. It sounds reasonable to assume that both the nominal data and expectations might be tumbling soon.Let’s now have a look at the EUR/USD technical picture in the H4 timespan. The marketplace is selling overbought conditions after the surprising response to the FED rates of interest hike, so now some sort of the corrective move need to be developed. The market might check the technical support at the level of 1.0745 and even 1.0713 if the information are worse than anticipated. The growing bearish divergence supports this view.

analytics58cba4a8b0a9c.jpg

Market snapshot- Petroleum break out above the resistance The oil bulls have handled to press the price higher to the technical resistance zone in between the levels of 48.61 – 49.22, but the price was topped after making a top at the level of 49.61. Presently, the rate returned to the gray resistance zone and the overbought trading conditions may recommend it will retrace even lower towards the next technical assistance at the level of 47.90.

analytics58cba4b3b0e3c.jpg

Market photo- NZD/USD capped at pattern line resistance

The cost of NZD/USD has actually evaluated the golden pattern line resistance on the daily chart, however the level was plainly turned down. It looks like the oversold trading conditions might help the bull camp to attempt to check the level once again quickly and break out to the next technical resistance at the level of 0.7126.

analytics58cba4bdb1512.jpg

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

Jonathon Alexander

Technical analysis of USD/CHF for March 17, 2017 888011000 110888 Summary: The USD/CHF pair continues to move down from the levels of 1.0104, 1.0052 and 1.0015. The set dropped from the level of 1.0104( this level of 1.0104 accompanies the ratio of 78.6%Fibonacci retracement) down around the area of 0.9960. Today, the first assistance level is seen at 0.9933 followed by 0.9897, while day-to-day resistance 1 is found at 1.0052. In the middle of the previous occasions, the pair is still in an uptrend, due to the fact that the USD/CHF set is trading in a bearish trend from the rate of 1.0052 toward the first assistance level at 0.9978 in order to check it. For that reason, the very first bearish wave is seen at 0.9933, for that i the set prospers to go through the level of 0.9933, the marketplace will indicate a bearish opportunity below the level of 0.9978. To puts it simply, offer orders are recommended listed below the area of 0.9978 with the very first target at the level of 0.9933; and continue toward 0.9897.On the other hand, if the NZD/USD pair cannot break through the significant resistance level of 1.0104 today, then you ought to set your stop loss at 1.0150. The material has been offered by InstaForex Company -www.instaforex.com

By | March 17, 2017

USDCHFH4.png

Overview:

  • The USD/CHF pair continues to move downwards from the levels of 1.0104, 1.0052 and 1.0015. The pair dropped from the level of 1.0104 (this level of 1.0104 coincides with the ratio of 78.6% Fibonacci retracement) to the bottom around the spot of 0.9960. Today, the first support level is seen at 0.9933 followed by 0.9897, while daily resistance 1 is found at 1.0052. Amid the previous events, the pair is still in an uptrend, because the USD/CHF pair is trading in a bearish trend from the price of 1.0052 toward the first support level at 0.9978 in order to test it. Therefore, the first bearish wave is seen at 0.9933, for that i the pair succeeds to pass through the level of 0.9933, the market will indicate a bearish opportunity below the level of 0.9978. In other words, sell orders are recommended below the spot of 0.9978 with the first target at the level of 0.9933; and continue toward 0.9897. On the other hand, if the NZD/USD pair fails to break through the major resistance level of 1.0104 today, then you should set your stop loss at 1.0150.

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

Jonathon Alexander

International macro overview for 17/03/2017

By | March 17, 2017

International macro summary for 17/03/2017: The Bank of Japan left its monetary policy the same at the meeting on Thursday. The Overnight Call Rate remained at -0.10% together with the Annual Rise in Monetary Base at the level of 80 trillion yens. The bank’s policymakers stated the QE programme will continue until the inflation target of 2% is achieved. In the declaration, the BoJ said that the Japanese economy remained on a moderate healing track and would likely rely on a moderate expansion. Analysts and market participants do not anticipate the BoJ to make changes to its policy in the near future.

Let’s now take a look at the USD/JPY technical image on the H4 time frame. The marketplace is trading in oversold conditions in a range between the levels of 112.84 – 113.55. The last level is the crucial one for the bulls to advance higher to the next technical resistance at 114.48. The wider pattern on larger amount of time remains bullish.

analytics58cba03e3da48.jpg

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

Jonathon Alexander

Technical analysis of USDX for March 17, 2017 888011000 110888 The Dollar index has broken through the 61.8% Fibonacci retracement support but it shows reversal signs. Short-term pattern is bearish. Medium-term trend is neutral. Long-term pattern remains bullish. After the double top we discussed at 102.30, the Dollar index broke support and fell sharply after the FOMC conference lastWednesday. Cost has reached our short-term target and assistance location at 100.30. Oscillators are oversold, so a bouncetowards 101 is expected. Red line- resistance Black line -neckline support Green line -long-lasting pattern line support The Dollar index is most probably forming a right hand shoulder in a bearish Head and Shoulders pattern that has a neckline support( black line)at 99.25. The Dollar index has broken listed below the weekly tenkan-sen(Red line sign)and is heading to the kijun-sen support(yellow line indication). Crucial weekly resistance is at 101.80 and at 102.30. Bears remain in control. Bulls have to show more positive rate action above a minimum of 101.80 in order to regain control.The product has been supplied by InstaForex Company-www.instaforex.com

By | March 17, 2017

The Dollar index has broken through the 61.8% Fibonacci retracement support but it shows reversal signs. Short-term trend is bearish. Medium-term trend is neutral. Long-term trend remains bullish.

analytics58cb98fdf3fcd.png

After the double top we mentioned at 102.30, the Dollar index broke support and fell sharply after the FOMC meeting last Wednesday. Price has reached our short-term target and support area at 100.30. Oscillators are oversold,so a bounce towards 101 is expected.

analytics58cb994a5be3d.png

Red line – resistance

Black line – neckline support

Green line – long-term trend line support

The Dollar index is most probably forming a right hand shoulder in a bearish Head and Shoulders pattern that has a neckline support (black line) at 99.25. The Dollar index has broken below the weekly tenkan-sen (Red line indicator) and is heading towards the kijun-sen support (yellow line indicator). Important weekly resistance is at 101.80 and at 102.30. Bears are in control. Bulls need to show more constructive price action above at least 101.80 in order to regain control.

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

Jonathon Alexander

Technical analysis of gold for March 17, 2017 888011000 110888 Gold rate arrived of the resistance area yesterday around $1,235 and is drawing back. This pullback is really crucial and will identify if we are visiting $1,160 or the recent low is an essential long-lasting low. Blue rectangle-assistance Gold price tried to break above the Kumo (cloud)resistance however got rejected on the 4-hour chart. This will be a crucial bullish indication. We need to be client for now. I anticipate this support area to be evaluated. If rates break listed below it, then the bearish situation for a push lower towards$1,180-60 will have increased possibilities. We could see another move higher towards $1,280 if assistance holds. Daily Gold rate has actually stopped its increase right on the day-to-day kijun-sen. Rate could back test the tenkan-sen (red line sign)and the cloud support at$ 1,215-12 area and after that begin its next upward relocation. Oscillators point greater so in the meantime we consider the pullbacks as purchasing chances. We should expect a sharp sell off to$1,160 if the $1,194 low is broken. The material has been offered by InstaForex Company -www.instaforex.com

By | March 17, 2017

Gold price reached the top of the resistance area yesterday around $1,235 and is pulling back. This pullback is very critical and will determine if we are going to see $1,160 or the recent low is an important long-term low.

analytics58cb97214964f.jpg

Blue rectangle – support

Gold price tried to break above the Kumo (cloud) resistance but got rejected on the 4-hour chart. This will be an important bullish sign. We need to be patient for now. I expect this support area to be tested. If prices break below it, then the bearish scenario for a push lower towards $1,180-60 will have increased chances. If support holds, then we could see another move higher towards $1,280.

analytics58cb97ee488ab.jpg

On a daily basis Gold price has stopped its rise right on the daily kijun-sen. Price could back test the tenkan-sen (red line indicator) and the cloud support at $1,215-12 area and then start its next upward move. Oscillators point higher so for now we consider the pullbacks as buying opportunities. If the $1,194 low is broken, we should expect a sharp sell off towards $1,160.The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Fundamental Analysis of NZD/USD for March 17, 2017 888011000 110888 NZD/USD had a long non-volatile bearish trend considering that it had actually bounced from the resistance location near 0.7240. After the FOMC had announced its decision to hike the rate, USD showed some bearish interference in the market. Today, New Zealand posted the Business Production Index which showed a stable increase from the previous reading of 52.2 to 55.2. Discussing USD, it will also see some key occasions today such as the G20 meeting and the Preliminary UoM Customer Belief which formerly was at 96.3 and is anticipated to rise to 97.1. Besides, the Industrial Production report is due to be revealed. Formerly it was at -0.3% but today a favorable result of 0.3% is expected. So, this day is rather essential for USD as some crutial high-impact information is going to be published.Now let us take a look at thetechnical picture. The price found the resistance at 20 EMA yesterday after an impulsive bullish move of USD activated by the interest rate hike choice. Presently, the rate remains in the middle of the structure and a much deeper decline is anticipated towards 0.6900 area within the other day’s bearish impulsive move. On the other hand, if the rate breaks above the current high at 0.7050 with a daily close, we will be expecting bullish move towards the resistance at 0.7130. The material has been offered by InstaForex Company -www.instaforex.com

By | March 17, 2017

NZD/USD had a long non-volatile bearish trend since it had bounced from the resistance area near 0.7240. However, after the FOMC had announced its decision to hike the rate, USD showed some bearish interference in the market. Today, New Zealand posted the Business Manufacturing Index which showed a stable increase from the previous reading of 52.2 to 55.2. Speaking about USD, it will also see some key events today such as the G20 meeting and the Preliminary UoM Consumer Sentiment which previously was at 96.3 and is expected to rise to 97.1. Besides, the Industrial Production report is due to be revealed. Previously it was at -0.3% but today a positive result of 0.3% is expected. So, this day is quite important for USD as some crutial high-impact data is going to be published.

Now let us look at the technical picture. The price found the resistance at 20 EMA yesterday after an impulsive bullish move of USD triggered by the interest rate hike decision. Currently, the price is in the middle of the structure and a much deeper decline is expected towards 0.6900 area within yesterday’s bearish impulsive move. On the other hand, if the price breaks above the recent high at 0.7050 with a daily close, we will be expecting bullish move towards the resistance at 0.7130.

analytics58cb8360b954a.jpg

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

Jonathon Alexander

USD/CAD Essential Analysis March 17, 2017 888011000 110888 The CAD had spontaneous pressure over the USD after the FOMC chose to raise the federal funds rate from 0.75% to 0.75%-1.00%. Following a commonly anticipated Fed’s relocation, the rate hike decision made a substantial impact on the currency market however impacted the USD in an unfavorable way. Presently, the USD/CAD market is trading sideways after the impulsive bearish relocation the day prior to yesterday. Today, we have G20 Fulfilling which is going to be underway for the entire worldwide day. The USD/CAD pair may reveal some volatility along the method. Today Canada will provide Manufacturing Sales report. Formerly, the figure was at 2.3% but no projection has been made about this report. Any positive or unfavorable outcome will affect the CAD in an impulsive way today. On the other hand, today on the USD front, the economic calendar includes Preliminary UoM Consumer Sentiment which previously was at 96.3 and 97.1 is expected today. On the whole, the currency market is going to be rather unpredictable today. Amid some essential first-tier reports from the United States and Canada, the USD/CAD set is facing a choppy trade today. Now let us take a look at the technical view. After the break below the channel assistance and vibrant support of 20 EMA the set is anticipated to retest the closest resistance of 1.3370. We will consider selling with a target to 1.3215 if we see any bullish rejection from the level. On the other hand, daily close above the resistance 1.3370 will cancel the bearish bias. The product has been supplied by InstaForex Company-www.instaforex.com

By | March 17, 2017

The CAD had impulsive pressure over the USD after the FOMC decided to raise the federal funds rate from 0.75% to 0.75%-1.00%. Following a widely expected Fed’s move, the rate hike decision made an huge impact on the currency market but affected the USD in a negative way. Currently, the USD/CAD market is trading sideways after the impulsive bearish move the day before yesterday. Today, we have G20 Meeting which is going to be underway for the whole global day. Therefore, the USD/CAD pair may show some volatility along the way. Moreover, today Canada will present Manufacturing Sales report. Previously, the figure was at 2.3% but no forecast has been made about this report. Any positive or negative outcome will affect the CAD in an impulsive way today. On the other hand, today on the USD front, the economic calendar contains Preliminary UoM Consumer Sentiment which previously was at 96.3 and 97.1 is expected today. On the whole, the currency market is going to be quite volatile today. Amid some important first-tier reports from the US and Canada, the USD/CAD pair is facing a choppy trade today.

Now let us look at the technical view. After the break below the channel support and dynamic support of 20 EMA the pair is expected to retest the nearest resistance of 1.3370. If we see any bullish rejection from the level, we will consider selling with a target towards 1.3215. On the other hand, daily close above the resistance 1.3370 will cancel the bearish bias.

analytics58cb7e94ee448.jpg

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

Jonathon Alexander

Technical analysis of USD/JPY for March 17, 2017 888011000 110888 USD/JPY is under pressure. The set is trading listed below its 20-period and 50-period moving averages. The relative strength index is above its neutrality level at 50 and lacks downward momentum. 113.70 is playing an essential resistance role, which should restrict the upside potential. As long as the resistance at 113.70 isn’t surpassed, the danger of a break listed below 113.15 remains high. A break listed below this level would call for a more drop toward 112.90. The set is trading below its pivot point. It is likely to trade in a lower variety as long as it remains below the pivot point. Brief positions are advised with the first target at 112.55. A break listed below this target will move the pair more downwards to 112.00. The pivot point stands at 114.00. If the rate relocations in the opposite instructions and recovers from the support level, it will move above its pivot point. It is most likely to move further to the benefit. According to that scenario, long positions are advised with the very first target at 114.45 and the second one at 114.85. Resistance levels: 114.00, 114.45, and 114.85 Support levels: 113.15, 112.90, and 112.55 The material has actually been supplied by InstaForex Business – www.instaforex.com

By | March 17, 2017

USDJPYM30.png

USD/JPY is under pressure. The pair is trading below its 20-period and 50-period moving averages. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Nevertheless, 113.70 is playing a key resistance role, which should limit the upside potential.

As long as the resistance at 113.70 isn’t surpassed, the risk of a break below 113.15 remains high. A break below this level would call for a further drop toward 112.90.

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 112.55. A break below this target will move the pair further downwards to 112.00. The pivot point stands at 114.00. 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 114.45 and the second one at 114.85.

Resistance levels: 114.00, 114.45, and 114.85

Support levels: 113.15, 112.90, and 112.55

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

Jonathon Alexander

Technical analysis of GBP/JPY for March 17, 2017 888011000 110888 GBP/JPY is expected to continue the upside motion. The pair has broken above a negative pattern line, along with both 50-period and 20-period moving averages, and is anticipated to continue its technical rebound. The 20-period moving average has actually just crossed above the 50-period one, which is a bullish technical signal. And the relative strength index has been supported by an increasing trend line and is above its neutrality location at 50. The intraday predisposition remains favorable. As long as 139.65 isn’t really broken, additional bounce is likely with 140.50 and 140.90 as targets. The pair is trading above its pivot point. It is most likely to sell a broader range as long as it remains above its pivot point. Long positions are advised with the first target at 140.50 and the second one at 140.90. In the option circumstance, short positions are recommended with the very first target at 139.25 if the cost moves below its pivot points. A break ofthis target may press the set more downwards,and one might anticipate the 2nd target at 138.85. The pivot point is at 139.65. Resistance levels: 139.80, 140.05, and 140.55 Support levels: 138.75,138.50, and 138.00 The product has been provided by InstaForex Business-www.instaforex.com

By | March 17, 2017

GBPJPYM30.png

GBP/JPY is expected to continue the upside movement. The pair has broken above a negative trend line, as well as both 20-period and 50-period moving averages, and is expected to continue its technical rebound. Meanwhile the 20-period moving average has just crossed above the 50-period one, which is a bullish technical signal. And the relative strength index has been supported by a rising trend line and is above its neutrality area at 50. The intraday bias remains positive.

As long as 139.65 isn’t broken, further bounce is likely with 140.50 and 140.90 as targets.

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 140.50 and the second one at 140.90. In the alternative scenario, short positions are recommended with the first target at 139.25 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 138.85. The pivot point is at 139.65.

Resistance levels: 139.80, 140.05, and 140.55

Support levels: 138.75,138.50, and 138.00

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

Jonathon Alexander