Intraday technical levels and trading suggestions for EUR/USD for October 10, 2017 888011000 110888 Month-to-month Outlook In January 2015, the EUR/USD set moved below the significant need levels near 1.2050-1.2100(numerous previous bottoms embeded in July 2012 and June 2010). Hence, a long-lasting bearish target was forecasted towards 0.9450. In March 2015, EUR/USD bears challenged the monthly need level around 1.0500, which had been formerly reached in August 1997. In thelonger term, the level of 0.9450 stays a forecasted target if any monthly candlestick attains bearish closure below the depicted regular monthly need level of 1.0500. However, the EUR/USD pair has actually been caught within the depicted combination range(1.0500-1.1450 )until the present bullish breakout was executed above 1.1450. The existing bullish breakout above 1.1450 enabled a fast bullish advance towards 1.2100 where current evidence of bearish rejection was expressed(Note the previous Monthly candlestick of September). Daily Outlook In January 2017, the previous sag reversed when the Head and Shoulders pattern was established around 1.0500.Since then, obvious bullish momentum has actually been expressed on the chart.As anticipated, the ongoing bullish momentum allowed the EUR/USD pair to pursue more bullish advancetowards 1.1415-1.1520( Previous Daily Supply-Zone). The day-to-day supply zone failed to pause the ongoing bullish momentum. Instead, an evident bullish breakout is being witnessed on the chart. The next Supply level to fulfill the pair lies around 1.2100(Level of previous several bottoms )where bearish rejection and a valid OFFER entry can be anticipated.On the other hand, If the current bearish breakout persists listed below 1.1800 (the portrayed uptrend line) and 1.1700, a fast bearish decrease should be anticipated to the price zone of 1.1415-1.1520 where bullish assistance can be offered.Trade Recommendations Bullish pullback towards theprice zone of 1.1835-1.1850 (the backside of the broken uptrend line)need to be thought about for a valid SELL entry. S/L must be put above 1.1950. The material has actually been supplied by InstaForex Company -www.instaforex.com

By | October 10, 2017

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Monthly Outlook

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.

In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997.

In the longer term, the level of 0.9450 remains a projected target if any monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0500.

However, the EUR/USD pair has been trapped within the depicted consolidation range (1.0500-1.1450) until the current bullish breakout was executed above 1.1450.

The current bullish breakout above 1.1450 allowed a quick bullish advance towards 1.2100 where recent evidence of bearish rejection was expressed (Note the previous Monthly candlestick of September).

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Daily Outlook

In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.

As anticipated, the ongoing bullish momentum allowed the EUR/USD pair to pursue further bullish advance towards 1.1415-1.1520 (Previous Daily Supply-Zone).

The daily supply zone failed to pause the ongoing bullish momentum. Instead, an evident bullish breakout is being witnessed on the chart. The next Supply level to meet the pair is located around 1.2100 (Level of previous multiple bottoms) where bearish rejection and a valid SELL entry can be anticipated.

On the other hand, If the current bearish breakout persists below 1.1800 (the depicted uptrend line) and 1.1700, a quick bearish decline should be expected towards the price zone of 1.1415-1.1520 where bullish support can be offered.

Trade Recommendations

Bullish pullback towards the price zone of 1.1835-1.1850 (the backside of the broken uptrend line) should be considered for a valid SELL entry. S/L should be placed above 1.1950.

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

Jonathon Alexander

Daily analysis of USD/JPY for October 10, 2017 888011000 110888 Introduction The USD/JPY set changes around the EMA50 since yesterday, observing that stochastic lost its positive momentum now, which might require the price to reveal more sideways trading until handling to get enough positive momentum to push the price to continue increasing on the short-term basis. In basic, we will continue to recommend the bullish pattern in the upcoming sessions unless breaking 112.00 level and holding below it, keeping in mind that breaching 113.44 will push the price to head to 114.49 that represents our next main target. The anticipated trading variety for today is between 112.00 assistance and 113.55 resistance. The product has been provided by InstaForex Business-www.instaforex.com

By | October 10, 2017

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Overview

The USD/JPY pair fluctuates around the EMA50 since yesterday, noticing that stochastic lost its positive momentum now, which might force the price to show more sideways trading until managing to get enough positive momentum to push the price to continue rising on the short-term basis. In general, we will continue to suggest the bullish trend in the upcoming sessions unless breaking 112.00 level and holding below it, noting that breaching 113.44 will push the price to head towards 114.49 that represents our next main target. The expected trading range for today is between 112.00 support and 113.55 resistance.

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

Jonathon Alexander

Day-to-day analysis of Gold for October 10, 2017 888011000 110888 Summary The Gold price kept its stability above 1281.17 level, to start today with bullish predisposition on its way to head to our very first target at 1299.20, as the price gets positive support by the EMA50, to keep the bullish pattern suggested in the upcoming sessions. Keep in mind that breaching the targeted level will press the price to 1321.49 direct while breaking 1281.17 will push the cost to check the most essential assistance to the short-term trading at 1263.15 once again. The expected trading variety for today is in between 1275.00 support and 1299.20 resistance. The product has been offered by InstaForex Company-www.instaforex.com

By | October 10, 2017

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Overview

The Gold price kept its stability above 1281.17 level, to start today with bullish bias on its way to head towards our first target at 1299.20, as the price gets positive support by the EMA50, to keep the bullish trend suggested in the upcoming sessions. Note that breaching the targeted level will push the price towards 1321.49 direct while breaking 1281.17 will push the price to test the most important support to the short-term trading at 1263.15 again. The expected trading range for today is between 1275.00 support and 1299.20 resistance.

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

Jonathon Alexander

Technical analysis of USD/CHF for October 10, 2017 888011000 110888 Introduction: The USD/CHF set dealt with a significant resistance at the level of 0.9785 since the double top is set around the area of 0.9785/ 0.9845. Subsequently, the strong resistance has actually currently been formed at the level of 0.9785 and the set is likely to aim to approach it in order to check it again. If the set stops working to pass through the area of 0.9785/ 0.9845, the market will indicate a bearish opportunity listed below the new strong resistance levels of 0.9785 or 0.9845 (resistance 2). The RSI begins signifying a downward trend, as the trend is still showing strength above the moving average (100)and( 50). Hence, the market is suggesting a bearish chance below the area of 0.9785/ 0.9845 so it will be good to sell at 0.9785 with the first target at 0.9707. It will likewise call for a sag in order to continue to 0.9846. The daily strong assistance is seen at 0.9603. On the other hand, the stop loss need to constantly be taken into consideration, for that it will be reasonable to set your stop loss at the level of 0.9845(significant resistance). The material has been provided by InstaForex Business-www.instaforex.com

By | October 10, 2017

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Overview:

  • The USD/CHF pair faced a major resistance at the level of 0.9785 because the double top is set around the area of 0.9785/0.9845. Consequently, the strong resistance has already been formed at the level of 0.9785 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the spot of 0.9785/0.9845, the market will indicate a bearish opportunity below the new strong resistance levels of 0.9785 or 0.9845 (resistance 2). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bearish opportunity below the spot of 0.9785/0.9845 so it will be good to sell at 0.9785 with the first target at 0.9707. It will also call for a downtrend in order to continue towards 0.9846. The daily strong support is seen at 0.9603. On the other hand, the stop loss should always be taken into account, for that it will be reasonable to set your stop loss at the level of 0.9845 (major resistance).

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

Jonathon Alexander

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

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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

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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