USD/CAD intraday technical levels and trading recommendations for April 10, 2017 888011000 110888 Since April 2016, the USD/CAD set has been trending up within the illustrated ascendingchannel.In December 2016, a bullish breakout above 1.3300(50%Fibonacci level)was anticipated to permit an additional advance toward 1.3700-1.3750(the ceiling of the portrayed channel). Nevertheless, considerable bearish rejection was revealedaround 1.3580 (recently developed top). During the bearish pullback, the price level of 1.3300 (50%Fibonacci Level)failed to provide sufficient support tothe pair.This allowed even more bearish motion toward the rate level of 1.2970(61.8%Fibonacci level)where a legitimate BUY entry was offered in February 2017. 2 weeks ago, the bullish breakout above 1.3300(50% Fibonacci Level) boosted additional advance towards 1.3440 and 1.3530. The next bullish target would be located around 1.3800(upper limit of the portrayed channel )if the pair keeps upside trading above 1.3300 (50%Fibonacci Level) which stands as a popular support level.On the other hand, if the USD/CAD pair moves below 1.3300, it might become trapped again within the illustrated debt consolidation variety(1.3300-1.2970). The material has been supplied by InstaForex Company-www.instaforex.com

By | April 10, 2017

analytics58eb765708411.png

Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel.

In December 2016, a bullish breakout above 1.3300 (50% Fibonacci level) was expected to allow a further advance toward 1.3700-1.3750 (the upper limit of the depicted channel).

However, significant bearish rejection was expressed around 1.3580 (recently established top).

During the bearish pullback, the price level of 1.3300 (50% Fibonacci Level) failed to provide enough support to the pair.

This allowed further bearish movement toward the price level of 1.2970 (61.8% Fibonacci level) where a valid BUY entry was offered in February 2017.

Two weeks ago, the bullish breakout above 1.3300 (50% Fibonacci Level) enhanced further advance toward 1.3440 and 1.3530.

The next bullish target would be located around 1.3800 (upper limit of the depicted channel) if the pair maintains upside trading above 1.3300 (50% Fibonacci Level) which stands as a prominent support level.

On the other hand, if the USD/CAD pair moves below 1.3300, it may become trapped again within the depicted consolidation range (1.3300-1.2970).

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

Jonathon Alexander

USD/JPY Essential Analysis April 10, 2017 888011000 110888 USD/JPY had actually found assistance at 110.10 after breaking listed below the assistance of 112.50. As of Friday, Non-Farm Work Modification showing the unfavorable figure of 98k which was expected to be at 174k but favorable Unemployment Rate at 4.5% which was expected to be at 4.7% assisted USD to gain strength over the JPY and gave the rate an increase to the upper resistance. Today JPY had Current Account report released in the early morning with positive value of 2.21 T which was anticipated to be at 1.79 T however Economy Watchers Sentiment was unfavorable at 47.4 which was expected to be at 49.8. On the other hand, USD has Labor Market Conditions report to be published today in addition to FED Chair Yellen speaking about short-term rates of interest modification and future monetary policies. A great amount of volatility is anticipated during the speech in this set today.Now let us take a look at the technical view, price is currently being appreciated by the vibrant resistance of 20 EMA though the price has bounced off from the assistance area of 110.10-75. Presently, since 20 EMA holding the price from benefit we are in bearish bias until the price breaks above 112.50 with a day-to-day close. If cost breaks below the most affordable support 110.10 level, it is expected that the rate will move much lower to 105.50 and a day-to-day close above 112.50 will negate our bearish bias and we will be looking forward for an upward target towards 114.60. The material has actually been supplied by InstaForex Business -www.instaforex.com

By | April 10, 2017

USD/JPY had found support at 110.10 after breaking below the support of 112.50. As of Friday, Non-Farm Employment Change showing the negative figure of 98k which was expected to be at 174k but positive Unemployment Rate at 4.5% which was expected to be at 4.7% helped USD to gain strength over the JPY and gave the price a boost towards the upper resistance. Today JPY had Current Account report published in the morning with positive value of 2.21T which was expected to be at 1.79T but Economy Watchers Sentiment was negative at 47.4 which was expected to be at 49.8. On the other hand, USD has Labor Market Conditions report to be published today along with FED Chair Yellen speaking about short-term interest rate change and future monetary policies. A good amount of volatility is expected during the speech in this pair today.

Now let us look at the technical view, price is currently being respected by the dynamic resistance of 20 EMA though the price has bounced off from the support area of 110.10-75. Currently, as of 20 EMA holding the price from upside we are in bearish bias until the price breaks above 112.50 with a daily close. If price breaks below the lowest support 110.10 level, it is expected that the price will move much lower towards 105.50 and a daily close above 112.50 will negate our bearish bias and we will be looking forward for an upward target towards 114.60.

analytics58eb7673d6d5f.jpg

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

Jonathon Alexander

NZD/USD Intraday technical levels and trading recommendations for April 10, 2017 888011000 110888 The NZD/USD pair was trapped within the portrayed rate variety( 0.6860-0.6990)till a bullish breakout occurred.A bullish breakout above 0.6960-0.7000 allowed the set to head toward the rate level of 0.7100 (the essential level)which failed to offer sufficient bearish pressure on the pair.Bullish persistence above 0.7100 allowed further advance toward 0.7250-0.7350( Sell-Zone )where the bearish costaction was expected.Bearish determination below 0.7250 permitted more decline towards 0.7100 then 0.6960 which cannot supply adequate assistance for the pair.That is why further bearish fall was anticipated towards 0.6860(the lower limit of the portrayed BUY zone)wherea bullish position was recommended in previous articles.Recently, the bullish breakout above the portrayed key level(0.6960)was attained. That is why, the present bearish pullback towards 0.6960 must be expected bullish rejection and a possible BUY entry.On the other hand, the price level of 0.7100 remains a substantial key level to be viewed for bearish price action when bullish pullback extends above 0.7040. The material has actually been offered by InstaForex Company-www.instaforex.com

By | April 10, 2017

analytics58eb75cd65f90.pnganalytics58eb75dd966d7.png

The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected.

Bearish persistence below 0.7250 allowed further decline toward 0.7100 then 0.6960 which failed to provide enough support for the pair.

That is why further bearish fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, the bullish breakout above the depicted key level (0.6960) was achieved.

That is why, the current bearish pullback toward 0.6960 should be watched for bullish rejection and a possible BUY entry.

On the other hand, the price level of 0.7100 remains a significant key level to be watched for bearish price action when bullish pullback extends above 0.7040.

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

Jonathon Alexander

Fxwirepro: Usd/inr Hovers Around 64.50 Mark, Faces Strong Assistance at 64.17

By | April 10, 2017
  • USD/INR is currently trading around 64.49 marks.
  • It made intraday high at 64.54 and low at 64.33 marks.
  • Intraday predisposition stays bullish till the time pair holds key support at 64.30 marks.
  • Key resistances are seen at 64.82, 65.03, 65.19, 65.34, 65.48, 65.64, 65.80, 66.00, 66.32, 66.48, 66.57, 66.80, 67.01, 67.17, 67.31 and 67.45 marks respectively.
  • On the other side, initial supports are seen at 64.30, 64.17 and 64.00 marks respectively.
  • In addition, India’& rsquo; s NSE Nifty was trading around 0.13 percent greater at 9,209.65 points and BSE Sensex was trading at 0.12 percent greater at 29,741.94 points.

We prefer to go short on USD/INR around 64.55, stop loss 64.82 and target of 64.17/ 64.00/ 63.92.

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

Jonathon Alexander

Elliott wave analysis of EUR/NZD for April 10 – 2017 888011000 110888 Wave summary: EUR/NZD is not truly doing anything at the minute. We continue to look for a break above 1.5347 as the go-signal for renewed upside pressure to 1.5570 and potentially even closer to 1.5792 target. That stated, assistance at 1.5151 will have to have the ability to secure the drawback or a much deeper correction closerto 1.5108 and perhaps even closer to1.4874 might be seen. R3:1.5457 R2: 1.5347 R2: 1.5312 Pivot: 1.5260 S1: 1.5183 S2: 1.5151 S3: 1.5108 Trading suggestion: We are long EUR from 1.5235 we will move our stop higher to 1.5095. If you are shortly EUR yet, then buy a break above 1.5347 and start by using the exact same stop. The product has been provided by InstaForex Company- www.instaforex.com

By | April 10, 2017

analytics58eb101907d58.png

Wave summary:

EUR/NZD is not really doing anything at the moment. We continue to look for a break above 1.5347 as the go-signal for renewed upside pressure towards 1.5570 and possibly even closer to 1.5792 target. That said, support at 1.5151 will need to be able to protect the downside or a deeper correction closer to 1.5108 and possibly even closer to 1.4874 could be seen.

R3: 1.5457

R2: 1.5347

R2: 1.5312

Pivot: 1.5260

S1: 1.5183

S2: 1.5151

S3: 1.5108

Trading recommendation:

We are long EUR from 1.5235 we will move our stop higher to 1.5095. If you are not long EUR yet, then buy a break above 1.5347 and start by using the same stop.

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

Jonathon Alexander

Elliott wave analysis of EUR/JPY for April 10, 2017 888011000 110888 Wave summary: As long as resistance at 118.80 has the ability to top the advantage as long will the possibility for one final decrease into the 116.83 -116.99 stay. That said, we are plainly in the lasts of the restorative decrease from 124.09 and once a test of the 116.83 -116.99 area has actually been seen or a direct break above 118.80 is seen, that will be the signal for restored strengthto 124.09 and above. R3: 118.80 R2:118.43 R1: 118.17 Pivot: 118.00 S1: 117.75 S2: 117.46 S3: 117.30 Trading suggestion: We are purchasing EUR at 117.05 or upon a break above 118.80. The material has been provided by InstaForex Business- www.instaforex.com

By | April 10, 2017

analytics58eb0e5617814.png

Wave summary:

As long as resistance at 118.80 is able to cap the upside as long will the possibility for one final decline into the 116.83 – 116.99 remain. That said, we are clearly in the final stages of the corrective decline from 124.09 and once a test of the 116.83 – 116.99 area has been seen or a direct break above 118.80 is seen, that will be the signal for renewed strength towards 124.09 and above.

R3: 118.80

R2: 118.43

R1: 118.17

Pivot: 118.00

S1: 117.75

S2: 117.46

S3: 117.30

Trading recommendation:

We are buying EUR at 117.05 or upon a break above 118.80.

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

Jonathon Alexander

Technical analysis of EUR/USD for Apr 10, 2017 888011000 110888 When the European market opens, some Economic Data will be released, such as Sentix Investor Self-confidence, and Italian Commercial Production m/m. The United States will release the Economic Data, too, such as Labor Market Conditions Index m/m, so, in the middle of the reports, EUR/USD will relocate a low tomedium volatility throughout this day.TODAY’STECHNICAL LEVEL: Breakout BUYLevel: 1.0633.Strong Resistance:1.0626. Original Resistance: 1.0616. Inner Sell Location: 1.0606.Target Inner Area: 1.0581.Inner Buy Area: 1.0556. Original Support: 1.0546. Strong Support: 1.0536. Breakout OFFER Level: 1.0529. Disclaimer: Trading Forex(forex)on margin brings a high level of danger, and might not appropriate for all investors. The high degree of leverage can work against you along with for you. Before choosing to purchase foreign exchange you need to carefully consider your investment goals, level of experience, and risk cravings. The possibility exists that you could sustain a loss of some or all your preliminary investment and for that reason you must not invest cash that you can not pay for to lose. You must understand all the threats connected with foreign exchange trading, and consult from an independent financial advisor if you have any doubts.The material has actually been provided by InstaForex Company-www.instaforex.com

By | April 10, 2017

EURUSD.jpg

When the European market opens, some Economic Data will be released, such as Sentix Investor Confidence, and Italian Industrial Production m/m. The US will release the Economic Data, too, such as Labor Market Conditions Index m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Breakout BUY Level: 1.0633.

Strong Resistance:1.0626.

Original Resistance: 1.0616.

Inner Sell Area: 1.0606.

Target Inner Area: 1.0581.

Inner Buy Area: 1.0556.

Original Support: 1.0546.

Strong Support: 1.0536.

Breakout SELL Level: 1.0529.

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