[b][
Dear forum members,

Me and my colleagues are going to provide you with the latest analysis reviews. Please, follow our analysis and you will be informed about Forex. Hope, our reviews will help you to increase the efficiency of your trading.

The source is [URL=http://www.instaforex.com/]instaforex.com[/URL]

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Gold analysis for June 27, 2016
[img][/img]

RECOMMENDATION:
As expected, the price tested the level of $1,335.25 in a high volume. According to the 15M time frame, there is strong broken falling wedge formation (bullish pattern). Advice is to watch for buying opportunities on the dips. The first take profit level is set at the price of $1,357.00. There is lack of supply near the level of $1,322.50, which is a sign that the upward trend may continue.
Daily Fibonacci pivot points:
Resistance levels:
R1: 1,339.25
R2: 1.343.25
R3: 1,350.00
Support levels:
S1: 1,326.60
S2: 1,322.50
S3: 1,316.00
Selling gold looks risky at this stage. So, watch for potential buying opportunities.

Read more: https://www.instaforex.com/forex_analysis/78068/

Technical analysis of EUR/JPY for June 28, 2016
[img][/img]

RECOMMENDATION:
Support/Resistance:
109.55 - Brexit Low
111.63 - Intraday Support
113.22 - Intraday Resistance
114.13 - Weekly Pivot
115.48 - Technical Resistance
118.71 - WR1

All sell orders from the last week might be kept open as long as the level of 1.15.48 is not clearly violated. New sell orders should be added between the levels of 113.22 - 114.13.

Read more: https://www.instaforex.com/forex_analysis/78120/

Silver Technical Analysis for June 29, 2016.


Technical outlook and chart setups:

Silver is trading higher at $18.20 levels at this moment, looking to push towards $18.50 levels (major resistance on the weekly chart), before giving in to bears. The wave structure reveals that Silver might have topped out at $18.30 level or should produce a top at $18.50 level and produce a meaningful correction lower. Please note that the downside potential remains up to $15.40/50 levels, which is also fibonacci 0.618 support of the entire rally between $13.60 through $18.30 levels earlier. A break below $17.00 level would instill further confidence towards lower levels. It is hence recommended to remain flat and wait for the right opportunity to initiate short positions again. Immediate resistance is seen at $18.30/50 levels, while support is at $17.50 level respectively.

Trading recommendations:
Remain flat for now.

Read more: https://www.instaforex.com/forex_analysis/78193/

Technical analysis of USDX for June 30, 2016

The Dollar index continues to trade inside the consolidation range and inside the pennant formation. The trend is neutral for the short term, but I expect an upward breakout towards 99 over the coming weeks.



Black lines - pennant formation

The Dollar index is trading above the Kumo on the 4 hour chart with the stochastic oversold and turning upwards. I expect some Dollar strength to be seen in the market soon. Support is at 95.60 and resistance at 96.3

The weekly candle is getting weaker and is testing the lower cloud boundary support. This pullback is justified after the gap-up open on Monday, and I believe that only partially will the gap be filled, and the prices will reverse to the upside soon for the Dollar index.

Read more: https://www.instaforex.com/forex_analysis/78271/

Technical analysis of Gold for July 1, 2016

Gold has broken out of the triangle consolidation and is making higher highs and higher lows. The price is heading at least towards the $1,360 high with expectations of breaking it and reaching $1,400 by the end of next week.

[img][/img]

Black lines - triangle pattern (broken)

Gold continues to trade above the Ichimoku cloud and, as we said yesterday, the price formation was impulsive and a breakout was very near. Short-term support is at $1,313. Resistance is at $1,340 and next at $1,360. I'm bullish in Gold.

Red lines - expanding triangle

Gold is above the weekly cloud and is approaching post-Brexit levels. I continue to be bullish expecting to see $1,400 by next week. Gold has made a long-term low at $1,045, and I believe we are witnessing the early stages of a bullish long-term reversal.

Read more: https://www.instaforex.com/forex_analysis/78325/

[/color]Technical analysis of EUR/USD for July 04, 2016



[b][/b][color=#000099]Overview:

The EUR/USD pair will continue rising from the level of 1.1092 in the short term. It should be noted that the support is established at the level of 1.1092, which represents the ratio of the 61.8% Fibonacci Expansion on the H1 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the EUR/USD pair is showing signs of strength following a breakout of the highest level of 1.1092. So, buy above the level of 1.1092 with the first target at 1.1169. It continues further towards the levels of 1.1215 in order to test the daily resistance 1. The level of 1.1215 is a good place to take profits today. Moreover, the RSI is still signaling that the trend is upward as it remains strong above the moving average (100). This suggests that the pair will probably go up in coming hours. If the trend is able to break the level of 1.1215, then the market will call for a strong bullish market towards the objective of 1.1291. On the other hand, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1092, a further decline to 1.1000 can occur. It would indicate a bearish market.

[/b][/color]Comment:

It is expected that the range will be traded between the 1.1000 and 1.1291 levels this week. Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.

[b][color=#000099]Technical levels:

R3: 1.1414
R2: 1.1291
R1: 1.1215
PP: 1.1092
S1: 1.1016
S2: 1.0893
S3: 1.0817

Read more: https://www.instaforex.com/forex_analysis/78389/

EUR/USD Trading Recommendations for 8th July, 2016


Trading recommendations :
Sell now and below 1.1120
Stop loss : 1.1186
Take profit : 1.0970

Read more: https://www.instaforex.com/forex_analysis/78573/

Technical analysis of EUR/USD for July 11, 2016

When the European market opens, Italian Industrial Production m/m data will be released. The US will publish some economic data, too, such as the Labor Market Conditions Index m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1096.
Strong Resistance: 1.1090.
Original Resistance: 1.1079.
Inner Sell Area: 1.1068.
Target Inner Area: 1.1042.
Inner Buy Area: 1.1016.
Original Support: 1.1005.
Strong Support: 1.0994.
Breakout SELL Level: 1.0988.
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.

InstaForex analytical reviews will make you fully aware of
market trends!
Being an InstaForex client, you are provided with a large
number of free services for efficient trading.

Read more: https://www.instaforex.com/forex_analysis/78625/

Gold analysis for July 12 , 2016

Since our previous analysis, gold has been trading downwards. The price tested the level of $1,350.21 in an ultra high volume. According to the 30M time frame, I found a bullish engulfing candle pattern in a high volume from the support at the price of $1,350.60. I am expecting higher price. Be careful when selling and watch for buying opportunities. The first take profit level is set at the price of $1,357.50. The second take profit level is set at the price of $1,359.90.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,367.20

R2: 1.371.50

R3: 1,378.90

Support levels:

S1: 1,353.00

S2: 1,348.50

S3: 1,341.30

Trading recommendations for today: Selling gold looks risky, watch for buying opportunities.

InstaForex analytical reviews will make you fully aware of
market trends!
Being an InstaForex client, you are provided with a large
number of free services for efficient trading.

Read more: https://www.instaforex.com/forex_analysis/78719/

Technical analysis of USD/CHF for July 13, 2016



Overview:


The USD/CHF pair continues moving in a bullish trend from the support levels of 0.9789 and 0.9738. Currently, the price is in a bullish channel on the one-hour chart. As the price is still above the moving average (100), immediate support is seen at 0.9789, which coincides with a golden ratio (61.8% of Fibonacci).

As a result, the first support is set at the price of 0.9789. So, the market is likely to show signs of a bullish trend around the spot of 0.9789 - 0.973 . In other words, buy orders are recommended above the golden ratio (0.9789) with the first target at the level of 0.9904. Furthermore, if the trend is able to breakout through the first resistance level of 0.9904.

It should see the pair climbing towards the double top (0.9955) in order to form a new double top.

On the other hand, if a breakout happens at the support level of 0.9738, then this scenario may be invalidated.


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Read more: https://www.instaforex.com/forex_analysis/78767/

Intraday technical levels and trading recommendations for GBP/USD for July 14, 2016

Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market.

However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur.

The prominent demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection and a bullish engulfing weekly candlestick on February 26.

Bullish fixation above 1.4670 allowed for further bullish advancement initially towards 1.4950 (Weekly Supply) where a significant bearish rejection was expressed.

The price zone between 1.3845 and 1.3550 (historical bottoms in January 2009) was considered a significant demand zone to be watched for a bullish recovery.

However, by the end of June, a significant bearish breakdown below 1.3550 was expressed as depicted on the charts.

Note that the price zone of 1.3845-1.4040 now stands as a recent supply zone to be watched for new SELL entries if any bullish pullback extends above 1.3550.

On the other hand, bearish persistence below the demand level at 1.3550 enhances the bearish scenario towards 1.2700 (the nearest bearish projection target) where price action should be watched for a possible short-term BUY entry.



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Read more: https://www.instaforex.com/forex_analysis/78840/

[b][/b]Technical analysis of EUR/USD for July 15, 2016

When the European market opens, some economic news will be released such as the Trade Balance, Final Core CPI y/y, Final CPI y/y, and Italian Trade Balance. The US will release economic data too such as the Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Industrial Production m/m, Capacity Utilization Rate, Empire State Manufacturing Index, Retail Sales m/m, Core Retail Sales m/m, Core CPI m/m, and CPI m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

[b][/b]TODAY'S TECHNICAL LEVELS:


Breakout BUY Level: 1.1158.

Strong Resistance: 1.1152.

Original Resistance: 1.1141.

Inner Sell Area: 1.1130.

Target Inner Area: 1.1104.

Inner Buy Area: 1.1078.

Original Support: 1.1067.

Strong Support: 1.1056.

[b][/b]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.


InstaForex analytical reviews will make you fully aware of market trends!
Being an InstaForex client, you are provided with a large number of free services for
efficient trading.

Read more: https://www.instaforex.com/forex_analysis/78858/

Technical analysis of USDX for July 18, 2016

The US dollar index continues trading sideways. The price reversed upwards late on Friday night after the attempted coup in Turkey as investors fled to the safety of the dollar. However, price has not managed to break above 96.70 where we have a triple top.
Blue lines - sideways channel
Red lines - longer-term trading range

The dollar index made a triple top at 96.70 and a rejection here will surely push it towards 95.50 and most probably even lower if the lower boundary is broken. The short-term support is at 96.30. If resistance is broken we should expect a sharp rise towards 97.70.

Red line - resistance (broken)
The weekly candle of last week tested support by the kijun-sen (yellow line indicator) and reversed higher mainly because of the coup attempt in Turkey last Friday. Price closed inside the weekly Kumo and this week starts with trading right on the lower boundary of the weekly Kumo. Resistance is at 96.70 and support, at 95.80.

InstaForex analytical reviews will make you fully aware of market trends!
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Read more: https://www.instaforex.com/forex_analysis/78930/

[b][/b]Gold Technical Analysis for July 19, 2016.


Technical outlook and trade signals:

Gold continues to drift sideways for now, seen to be trading at $1,329.00/30.00 levels at the moment. The yellow metal should ideally remain below the previous resistance at $1,347.00 levels from here on. The wave structure indicates that Gold is setting up for another drop towards $1,311.00 at least. Please note that major support is seen at $1,304.00 levels and trend line support is also passing through the same region. It is hence recommended to remain short for now, with risk above $1,350.00 levels. Immediate support is seen at $1,310.00 levels, while resistance is at $1,347.00 levels respectively. Watch out for a potential pullback rally after the price prints lows at $1.310.00 levels at least. The metal remains short on rallies till prices stay below $1,375.00 levels going forward.

[b][/b]Trading recommendations:

Remain short for now, stop above $1,350.00, target $1,310.00 and $1,305.00. Good luck!

Read more: https://www.instaforex.com/forex_analysis/78978/

Technical analysis of EUR/USD for July 20, 2016


When the European market opens, some economic news will be released such as Consumer Confidence, Current Account, and German PPI m/m. The US will release economic data too such as Crude Oil Inventories. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1064.

Strong Resistance: 1.1058.

Original Resistance: 1.1047.

Inner Sell Area: 1.1036.

Target Inner Area: 1.1010.

Inner Buy Area: 1.0984.

Original Support: 1.0973.

Strong Support: 1.0962.

Breakout SELL Level: 1.0956.

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.

InstaForex analytical reviews will make you fully aware of market trends!
Being an InstaForex client, you are provided with a large number of free services for
efficient trading.
Read more: https://www.instaforex.com/forex_analysis/79026/

[b][/b]GBP/CHF Technical Analysis for July 21, 2016.

Technical outlook and chart setups:

The GBP/CHF pair pushed higher and made a fresh intermediary top at 1.3100 levels overnight. The pair is seen to be trading at 1.3025 levels at the moment, after pulling back lower. The wave structure still indicates that the pair is expected to push higher through 1.3250 levels, which is major resistance on higher timeframes (4H, not seen here). Please note that the 1.2875 level was the termination of wave 4 within a 5-wave rally that has begun from 1.2500 levels earlier. Bulls are poised to remain in control till prices stay above 1.2875 levels going forward. It is hence recommended to remain long with risk below 1.2850 levels. Immediate resistance is seen at 1.3200 levels, while support is at 1.2875 levels respectively.

Trading recommendations:

Remain long for now, stop at 1.2850, target 1.3250. Good luck!

InstaForex analytical reviews will make you fully aware of market trends!
Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Read more: https://www.instaforex.com/forex_analysis/79100/

Technical analysis of USD/CHF for July 22, 2016

Overview:

The USD/CHF pair fell from the level of 0.9906 to bottom at 0.9847 yesterday. Today, the USD/CHF pair has faced strong support at the level of 0.9840. So, the first support has been already faced at the level of 0.9840 and the pair is likely to try to approach it in order to test it again and form a double bottom. Thus, the USD/CHF pair keeps trading in a bullish trend from the support level of 0.9840. According to the previous events, we expect the pair to move between 0.9840 and 0.9906. The major resistance is seen at 0.9906, while immediate resistance is found at 0.9873. Then, we may anticipate potential testing of 0.9873 to take place soon. Moreover, if the pair succeeds in passing through the level of 0.9873, the market will indicate a bullish opportunity above the level of 0.9873. A breakout of that target will move the pair further upwards to 0.9906. The price of 0.9906 represents a double top.

Trading recommendations:

Buy orders are recommended above the area of 0.9840 (support) with the first target at the level of 1.9873; and continue towards 0.9906. On the other hand, if the USD/CHF pair fails to break out through the resistance level of 0.9840; the market will decline further to the level of 0.9788.

InstaForex analytical reviews will make you fully aware of market trends!
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Read more: https://www.instaforex.com/forex_analysis/79196/

Technical analysis of EUR/JPY for July 25, 2016

General overview for 25/07/2016:

The top for the wave b was established at the level of 118.38 and now another sub-wave down is being developed in order to complete the wave b green correction. Currently, the market trades in congestion zone that looks like a triangle pattern and a break out down towards the intraday support at the level of 115.48 is being anticipated.

Support/Resistance:

119.22 - WR2

118.38 - Wave b Top

117.63 - WR1

116.88 - Weekly Pivot

115.48 - Intraday Support

115.34 - WS1

114.81 - Technical Support

114.57 - WS2

113.01 - WS3

Trading recommendations:

All sell orders from the last week should be still kept open as there is still one more wave to the downside anticipated. The first TP is at the level of 115.48.

Read more: https://www.instaforex.com/forex_analysis/79244/

Intraday technical levels and trading recommendations for EUR/USD for July 26, 2016

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450.

In March 2015, the EUR/USD bears challenged the next monthly demand level around 1.0570, which had been previously reached in August 1997.

Later in April 2015, a strong bullish recovery was observed around the mentioned demand level. However, next monthly candlesticks (September, October, and November) reflected a strong bearish rejection around the area of 1.1400-1.1500.

Again in February 2016, the depicted price levels around 1.1400-1.1500 acted as a significant supply zone during the bullish pullback.

That is why, recent bearish rejection was expected around the current price levels (see the monthly candlesticks of May and June).

In the longer term, the level of 0.9450 will remain a projected bearish target if the current monthly candlestick closes below the depicted monthly demand level of 1.0570.

On the other hand, note that a monthly candlestick closure above 1.1400 invalidates this bearish outlook on the medium-term basis (low probability).


Similar to what happened in October 2015, the supply zone of 1.1410-1.1550 constituted a significant resistance zone for the EUR/USD pair.

Later on May 18, daily persistence below the levels of 1.1400 and 1.1200 was needed to ensure enough bearish momentum towards the 1.1100 and 1.1000 levels. However, a lack of bearish pressure was manifested on June 1.

Hence, the recent bullish closure above 1.1200 enhanced further bullish advancement towards 1.1400 where evident signs of bearish rejection and a valid SELL entry were previously suggested. That's why, obvious bearish breakout of 1.1200 level took place on June 16

However, evident bullish rejection around 1.1130 (depicted uptrend line) brought the EUR/USD pair above 1.1200 again.

As anticipated, the recent bullish pullback towards the zone of 1.1400 offered a valid SELL entry. All T/P levels were successfully reached.

The long-term outlook for the EUR/USD pair remains bearish according to the monthly chart. Bearish fixation below 1.1000 is needed to enhance this bearish scenario.

On July 8, recent bullish recovery was manifested around the price zone of 1.1000-1.0950 (previous consolidation range), but on July 15 significant bearish pressure was applied around 1.1150.

This week, bearish fixation below 1.1000 allows a quick decline towards 1.0820 (key level 2) where price action should be watched.

On the other hand, if the EUR/USD pair keeps trading above the price zone of 1.1000-1.0950 (previous consolidation range), further advance towards 1.1100 and 1.1170 should be expected.

Read more: https://www.instaforex.com/forex_analysis/79328/

Technical analysis of USDX for July 27, 2016

The US dollar index is holding above the triple top and breakout area of 96.70 despite the pullback we saw yesterday. The dollar index is showing divergence signs, which imply that the dollar bulls should be very cautious.

Blue line - triple top break out level

Red lines - long-term trading range

The dollar index is above the 4 hour Kumo and above the breakout level of 96.70. As long as we are above it, bulls are still alive but more strength and a break above 97.60 is needed. If yesterday's lows are broken we should expect more downside for the dollar index as we will have confirmation of the false breakout.

The weekly candle is testing the upper cloud boundary. A breakout above the weekly cloud will be a bullish sign. The weekly stochastic is about to make a bearish cross and bulls should be very cautious as we are in overbought levels and near resistance levels.

Read more: https://www.instaforex.com/forex_analysis/79379/

Technical analysis of EUR/USD for July 28, 2016

When the European market opens, some Economic Data will be released such as Italian 10-y Bond Auction, German Unemployment Change, Spanish Unemployment Rate, German Prelim CPI m/m.The US will release the economic data too such as Natural Gas Storage, Unemployment Claims, so amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.1119.

Strong Resistance:1.1113.

Original Resistance: 1.1102.

Inner Sell Area: 1.1091.

Target Inner Area: 1.1065.

Inner Buy Area: 1.1039.

Original Support: 1.1028.

Strong Support: 1.1017.

Breakout SELL Level: 1.1011.


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.

Read more: https://www.instaforex.com/forex_analysis/79421/

Gold analysis for July 29 , 2016


Since our previous analysis, gold has been trading upwards. As I expected, the price tested the level of $1,345.39 in a high volume. According to the 4H time frame, I have found solid support at the price of $1,333.00. I found sign of strength from the support level, which is an indicator that selling looks risky. Watch for buying opportunities. Take profit level is set at the price of $1,348.90.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,341.00

R2: 1,344.35

R3: 1,349.80

Support levels:

S1: 1,330.15

S2: 1,326.80

S3: 1,321.40

Trading recommendations for today: selling looks risky, watch for buying opportunities.

Read more: https://www.instaforex.com/forex_analysis/79535/

[/b]EUR/NZD analysis for August 01, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.5447. According to the 15M time frame, I found successful test of supply in a low volume at the price of 1.5450 and I found fake breakout of swing low. Be careful when selling and watch for buying opportunities. The price respects the 21SMA, which is a good sign of strength. The intraday trend is upward and the first upward target is set at the price of 1.5650. Point of control from Friday is set at the price of 1.5620.

[b]Fibonacci Pivot Points:

Resistance levels:

R1: 1.5610

R2: 1.5655

R3: 1.5730

Support levels:

S1: 1.5460

S2: 1.5415

S3: 1.5340

Trading recommendations for today: Watch for buying opportunities on the dips.

Silver Technical Analysis for August 02, 2016.


Technical outlook and chart setups:

Silver has finally inched higher today as expected and hit fresh intraday highs at $20.80 level. The metal is trading a bit lower at $20.65 level at this moment and looks to have completed its counter trend rally that began from sub $19.00 level earlier. If the above wave count holds true and Silver fails to break above $21.13 level, it should drop lower towards $18.00 level going forward. The wave structure also indicates that a flat is now complete and the metal is expected to turn lower from current price action. It is recommended to remain short now, with risk above $21.13 levels. Immediate interim support is seen at $19.20 level, while resistance is at $21.13 level respectively.


Trading recommendations:

Remain short from $20.50 levels, stop above $21.13, a target is lower

Good luck!

Read more: https://www.instaforex.com/forex_analysis/79658/

Elliott wave analysis of EUR/NZD for August 3, 2016


Wave summary:

We are still looking for a break above the minor resistance line near 1.5610 as the first strong indication that the corrective decline from 1.5839 finally has completed and a new impulsive rally higher towards 1.6652 should be expected.The corrective decline from 1.5839 is a strong bullish set-up, but we need the break above the resistance line to really trigger this set-up for the next large rally higher to 1.5839 and above.

Trading recommendation:

We are long EUR from 1.5540 with stop placed at 1.5400. If you are not long EUR yet, then buy a break above the resistance line near 1.5610 and place your stop at 1.5510.

Technical analysis of USD/CHF for August 04, 2016

Overview:


Yesterday, the USD/CHF pair moved from its bottom at 0.9630 and continued to rise to the top of 0.9745. Today, on the one-hour chart, the current rise will remain within a framework of correction. In the H4 time frame, if the pair fails to pass through the level of 0.9786, the market will indicate a bearish opportunity below the strong resistance level of 0.9786 (level of 0.9786 coincides with the 61.8% of Fibonacci), which is expected to act as a major support today. Additionally, the RSI is still signaling that the trend is downward as it is still strong below the moving average (100). Since there is nothing new in this market, it is not bullish yet. Sell deals are recommended below the level of 0.9786 with the first target at 0.9684. If the trend breaks the support level of 0.9684, the pair is likely to move downwards continuing the development of a bearish trend to the level 0.9622 in order to test the daily support 2 (horizontal green line). On the other hand, if a breakout happens at the resistance level of 0.9786, then this scenario may become invalidated. But in overall, we still prefer the bearish scenario today.

Read more: https://www.instaforex.com/forex_analysis/79788/

Technical analysis of USD.CAD for August 5, 2016

With the Canadian Dollar strengthening against the US Dollar as Oil prices rise above 41$, I expect some more weakness for the USDCAD pair over the coming days and a possible pull back even towards 1.29. However, my longer-term view for a push towards 1.33-1.36 is still in play.

Blue lines - long-term triangle pattern

With a possible fake breakout above 1.3150 USDCAD is making lower lows and lower highs. Price is most probably heading towards daily cloud support at 1.29 where I will look to open long positions. I continue to believe that the correction of the entire decline is still not over and that this pair should at least make a strong bounce towards 1.33 if not 1.36.

Green line - short-term support


USDCAD has broken below the 4 hour Kumo (cloud) support and the short-term triangle pattern targeting the green trend line support at 1.2970. With NFP announcement today we should expect some wild movements in all dollar pairs. My longer-term view remains bullish so I continue to expect a large scale reversal, either from current levels or from 1.29.

Read more: https://www.instaforex.com/forex_analysis/79840/

Daily analysis of USDX for August 08, 2016

At H1 chart, USDX is consolidating higher and the resistance zone of 96.32 is being challenged. Above that zone, we can expect another advance towards the 96.75 level, where the sellers could be waiting for. However, a pullback can drive the Index to re-test the support zone of 95.51. MACD indicator is showing overbought conditions.

H1 chart's resistance levels: 96.32 / 96.75

H1 chart's support levels: 95.93 / 95.51

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 96.32, take profit is at 96.75 and stop loss is at 95.90.

Read more: https://www.instaforex.com/forex_analysis/79872/

Following

Technical analysis of silver for August 09, 2016

Technical outlook and chart setups:

Silver hit fresh lows at $19.50 levels last Friday as expected. The metal is trading at $19.60 at the moment and looks to be setting up for a retracement/counter trend rally towards $20.40/50 levels before reversing again. Besides, the metal is likely to consolidate (triangle) and seems to be in its last leg rally as shown here. If the above wave count proves to be valid, and silver fails to break above $21.13 levels, it will drop lower towards $19.00 levels at least going forward. It is recommended to remain short now, with risk above $21.13 levels. Immediate interim support is seen at $19.45 levels, while resistance lies at $20.50 levels. Bears should be poised to remain in control till prices stay below $21.13 levels.

Trading recommendations:

Remain short from $20.50 levels, and plan to book partial profits. Stop is above $21.13, target is lower.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/79960

Technical analysis of EUR/JPY for August 10, 2016

General overview for 10/08/2016:

After the bullish camp did not manage to break out above the intraday resistance at the level of 113.92, the price has moved back to the weekly pivot at the level of 113.26 and continues to trade in rather narrow trading range. The bottom for wave b might be in place at the level of 112.31, but to confirm this scenario the price must impulsively break out above the 113.92 level and head higher. And violation of the intraday support at the level of 112.31 will invalidate this scenario.

Support/Resistance:

112.31 - Intraday Support

113.26 - Weekly Pivot

113.92 - Intraday Resistance

114.22 - WR1

115.76 - WR2

116.72 - WR3

Trading recommendations:

Day traders should consider opening buy orders from current price levels and place the SL just below the level of 112.30. TP is open for now.

Read more: https://www.instaforex.com/forex_analysis/80028