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Technical analysis of USDX for October 4, 2016

The Dollar index has broken short-term resistance levels and is testing horizontal resistance where a previous double top rejection occurred. Short-term trend is bullish with increased chances of making medium-term trend bullish again as we are heading towards 96.50 resistance.

Red line - resistance

Black line - horizontal resistance

Blue line -support


The Dollar index is above the 4-hour Ichimoku cloud and is breaking above and out of the triangle pattern. Next resistance is at the previous highs at 96.50. A clear break above that level will open the way for a push towards 97.50. Support is found at 95.70. The next one is at 95.


Green line - important medium-term support The Dollar index is holding above the green trend line support and is now testing the Ichimoku cloud resistance at 96.50. A break above it will be a bullish sign. Bulls will need to defend the green trend line support no matter what. Otherwise a huge wave of sellers will come. A break out above the weekly cloud will open the way for new highs.

Read more: https://www.instaforex.com/forex_analysis/82345

Technical analysis of EUR/USD for Sept 30, 2016

When the European market opens, some economic data will be released such as Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, French Prelim CPI m/m, French Consumer Spending m/m, German Retail Sales m/m.The US will release the economic data too such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Personal Spending m/m, Core PCE Price 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: 1.1273.

Strong Resistance:1.1267

Original Resistance: 1.1256.

Inner Sell Area: 1.1245.

Target Inner Area: 1.1219.

Inner Buy Area: 1.1193.

Original Support: 1.1182.

Strong Support: 1.1171.

Breakout SELL Level: 1.1165.

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/82204

Gold analysis for September 29, 2016

Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,317.79 in a high volume. The third take profit level at the price of $1,320.20 from yesterday has been met. The intraday trend is still downward. So, be careful when buying gold at this stage and watch for selling opportunities. Using the market profile analysis, I found yesterday's point of control at the price of $1,325.30. Watch for selling opportunities on pullbacks. Next downward targets are set at the prices of $1,314.50 and $1,308.50.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,329.90

R2: 1,332.15

R3: 1,335.85

Support levels:

S1: 1,322.55

S2: 1,320.25

S3: 1,316.55

Trading recommendations for today: Intraday downward trend. Watch for selling opportunities on pullbacks.

Read more: https://www.instaforex.com/forex_analysis/82188

EURUSD Technical Analysis for September 28, 2016.

Technical outlook and chart setups:

The EURUSD has now dropped further as expected and discussed yesterday. The pair has made lows at 1.1190 levels before pulling back towards 1.1225 only to find resistance there. It is seen to be trading at 1.1207 levels at this moment, and is expected to drop further towards 1.1180 and 1.1165 levels subsequently. The wave structure still indicates that the pair is on its way to produce a wave 5 impulse drop from 1.1279 levels and a push below 1.1190 would confirm the same. Once this is done, a counter trend rally should materialize towards 1.1250/60 levels before the pair reverses sharply. Ideally, prices should remain below 1.1280/90 levels to keep the bearish structure intact. It is hence recommended to remain short, with risk at 1.1290 levels, one can take partial profits though.. Immediate resistance is seen at 1.1283 levels, while support is seen at 1.1120 levels respectively.

Trading recommendations: Remain short, stop at 1.1290, target is open. Please consider taking partial profits.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/82072

Technical analysis of USD/CAD for September 27, 2016

General overview for 27/09/2016:

The bottom for the wave v of the wave (c) has been established at 1.3000, and now the market is in the corrective upward cycle. The next local high at 1.3275 has been labeled as the top for the wave X, but the growing bearish divergence supports the downside outlook, at least within the intraday time frame.Weekly pivot at 1.3145 seems to be the key level for bears.

Support/Resistance:

1.3253 - Intraday Resistance (Invalidation Level)

1.3145 - Weekly Pivot

1.3124 - Intraday Support

1.3041 - WS1

1.3000 - Technical Support

1.2901 - WS2

Trading recommendations:

Day traders should consider opening sell orders from the current price levels with SL just above the level of 1.3275. TP should be left open for now.

Read more: https://www.instaforex.com/forex_analysis/82026

Promising trading instrument – USD/INR pair

In the early month, we added a new promising asset, the USD/INR currency pair, to the list of trading instruments. The pair is already featured in the platform and is available for trading.

The Indian rupee has overcome several serious challenges up to 2000. In 2000s, the rupee exchange rate stabilized. Nowadays, India takes the fourth place by GDP after the eurozone, the United States, and China. The Indian economic growth a year makes up 7.5% and the country holds the 15th place by it. India is one of the most successfully developing countries.

Expansion of trading and economic processes as well as India's participation in international capital flows will trigger faster growth in the rupee trading volume. The country's major economic sectors that attract billion dollars are electronics, pharmaceutical and chemical industry, telecommunication, non-ferrous industry, trading, and non-financial services. Growth rates of India's high-tech industry could beat those of the United States in the near future. The country's key investors are Singapore, Mauritius, and the US.

The Indian rupee has been trading sideways at 57.335-54.175 levels of the AB wave of the high level. A break of one of the range limits will indicate formation of short wave C. A breach of the upper limit will lead to a monthly or higher level; and a breach of the lower limit, daily/daily2 level.

Deals on the Indian rupee are gaining in popularity on Forex, and the future of this currency looks rather promising.

Technical analysis of Gold for September 26, 2016

Gold price has made a new short-term lower low at $1,333 and a lower high at $1,341. Price remains above $1,330 the consolidation range before the high at $1,344. On a medium-term trend basis trend remains neutral as price is still trapped inside the trading range.

Red line - short-term resistance

Green line -short-term support

Price is trading in a trading range both on a short- and medium-term basis. In the short-term 1 hour chart as shown above, price is trapped between $1,330 and $1,340. A break of either of these two levels will begin a new short-term trend that could either challenge $1,344 or $1,316-20.

Red lines - trading range

Price is found on the daily chart inside the Kumo (cloud) implying trend is neutral. This is confirmed by the fact that price is also inside the red sideways channel for the last couple of months. Price got rejected at the upper cloud boundary. Important resistance is at $1,352 while support is at $1,300. I remain longer-term bullish but a rejection and a new lower low here will most probably bring price back to $1,300.

Read more: https://www.instaforex.com/forex_analysis/81938

Technical analysis of GBP/JPY for September 23, 2016

GBP/JPY is expected to trade with a bullish bias above 131.05. The pair is consolidating but is still trading above its rising 50-period moving average, which plays support role and maintains the upside bias. A support base has formed around 112.60, which should limit the downside potential. The relative strength index is around its neutrality level at 50 and lacks downward momentum. As long as 131.05 holds on the downside, the pair is likely to post a technical rebound toward 132.45. A break above this level would call for further advance toward 133.25.

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 132.45 and the second one at 133.25. In the alternative scenario, short positions are recommended with the first target at 130.40 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 130.00. The pivot point is at 131.05.

Resistance levels: 132.45, 133.25, 134.75

Support levels: 130.40, 130.00, 129.25

Read more: https://www.instaforex.com/forex_analysis/81854

InstaForex at ShowFx World: results of latest conference in Singapore

Last Saturday, on September 17, InstaForex participated in an annual ShowFx World conference in Singapore. This year the company became a platinum sponsor of this major event in Asian online trading world. Hosted in luxurious Marina Bay Sands expo venue, the conference attracted hundreds of traders from Singapore, Thailand, Indonesia, Malaysia, China and even Europe.
The visitors had a chance to gain knowledge at the seminar of InstaForex leading analyst Harsh Japee and other professionals of trading. Besides that, the conference guests had a unique chance to meet InstaForex representatives, ask them important questions and discuss mutually beneficial partnership.
Moreover, every visitor of the InstaForex booth received memorable gifts from the company such as branded powerbanks, USB sticks with the broker's logo, and $50-95 bonuses. Forex enthusiasts could take part in prize draws and win brand-new Apple tablets as well as $500 and $1,000 certificates. Another pleasant surprise was a raffle of T-shirts of leading U.S. Citta di Palermo players as InstaForex is a sponsor of the Italian football club. One of the raffled T-shirts belonged to Alberto Gilardino, a part of the 2006 FIFA World Cup winning-squad.
ShowFx World is one of the brightest and most remarkable events in the world of Forex trading.

Technical analysis of USD/CHF for September 22, 2016

Overview:

As expected the USD/CHF pair continues to move downwards from the areas of 0.9753 and 0.9733. Yesterday, the pair dropped from the level of 0.9753 to 0.9688. The price of 0.9753 coincides with a ratio of 61.8% Fibonacci on the H4 chart. Today, resistance is seen at the levels of 0.9733 and 0.9753. So, we expect the price to set below the strong resistance at the levels of 0.9733 and 0.9753; because the price is in a bearish channel now. Amid the previous events, the price is still moving between the levels of 0.9753 and 0.9648.In overall, we still prefer the bearish scenario as long as the price is below the level of 0.9753. Furthermore, if the USD/CHF pair is able to break out the bottom at 0.9688, the market will decline further to 0.9648 in order to test the double bottom in the H1 time frame. hence, the price will fall into a bearish trend in order to go further towards the strong support at 0.9648 to test it again. The level of 0.9648 will form a double bottom. On the other hand, if the price closes above the strong resistance of 0.9753, the best location for a stop loss order is seen above 0.9760.

Read more: https://www.instaforex.com/forex_analysis/81806

Technical analysis of USDX for September 21, 2016

The Dollar index continued its uptrend after back testing broken resistance yesterday. Price is in a bullish short-term trend and is now approaching important long- and medium-term resistance levels. With the central banks of Japan, USA and Europe tomorrow on the wires, the Dollar index will surely get some increase in volatility.

Black line - horizontal resistance

Blue line - long-term support trend line

Green line - short-term support trend line

The Dollar index continues to make higher highs and higher lows. Price is testing horizontal resistance at 96.30. Support is at 95.60. If this level is broken we should expect price to move towards the blue trend line support currently around 94.90.

The Dollar index is below the weekly cloud. Another rejection here will be a bearish sign for the Dollar index and will increase the chances of breaking below the green trend line support. Resistance is at 96.55. Support is at 94.70 on a weekly basis. Important to see how this week closes. Will it make a lower high and reverse lower or will it break above the cloud resistance?

Read more: https://www.instaforex.com/forex_analysis/81744

Technical analysis of EUR/USD for Sept 20, 2016

When the European market opens, some economic data will be released such as German PPI m/m. The US is due to publish economic data too such as Housing Starts and Building Permits. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1227.

Strong Resistance:1.1221.

Original Resistance: 1.1210.

Target Inner Area: 1.1173.

Inner Buy Area: 1.1147.

Original Support: 1.1136.

Strong Support: 1.1125.

Breakout SELL Level: 1.1119.

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/81660

Technical analysis of USD/CAD for September 19, 2016

General overview for 19/09/2016:

The current situation at this pair is that straightforward and the main count is evolving towards another complex corrective structure, possibly triple-three pattern. The intraday count still suggests a deeper decline towards the level of 1.3030 and then a possible rebound higher. The intraday resistance at the level of 1.3252 is still the key level for bulls and any break higher will immediately invalidate current wave developments.

Support/Resistance:

1.3252 - Intraday Resistnace

1.3178 - Weekly Pivot

1.3124 - Intraday Support

1.3106 - WS1

1.3030 - Techncial Support

1.2962 - WS2

Trading recommendations:

Day traders should consider opening sell orders from current price levels with SL just above the level of 1.3253 and TP at the level of 1.3030.

Read more: https://www.instaforex.com/forex_analysis/81603

Daily analysis of GBP/USD for September 16, 2016

Despite the BoE's meeting held during Thursday's session, the Cable remains capped by the resistance level of 1.3258, where is also the 200 SMA located on H1 chart. We're expecting that a breakout can push the pair higher towards the 1.3360 level, while a pullback can drive the pair to test the support zone of 1.3116. MACD indicator is entering positive territory, supporting a bullish run on a short-term basis.


H1 chart's resistance levels: 1.3258 / 1.3360

H1 chart's support levels: 1.3116 / 1.3037

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3258, take profit is at 1.3360 and stop loss is at 1.3155.

Read more: https://www.instaforex.com/forex_analysis/81533

Technical analysis of Gold for September 15, 2016

Gold price continues to trade inside the short-term downward sloping channel but still remains above critical medium-term support of $1,300. Short-term trend will change to bullish if price breaks above $1,333. A break below $1,300 will open the way for a push towards $1,180-$1,200.

Red lines - bearish channel

Blue lines - sideways trading range

Gold price is below the Ichimoku cloud on the 4-hour chart, inside the bearish channel but also inside the blue trading range. Only a break below $1,300 and above $1,360 could start a new trend for Gold. Until then we buy close to support and sell near resistance.

On the above daily chart, you can see that Gold is trading right above the 38% Fibonacci retracement of the rise from $1,200 to $1,375, and is also between the 61.8% and 78.6% Fibonacci support levels of the rise from $1,300 to $1,353. We are at currently at a critical juncture. I prefer long positions with $1,300 as stop.

Read more: https://www.instaforex.com/forex_analysis/81489

Technical analysis of USDX for September 14, 2016

The Dollar index continued to rise yesterday but price remains below critical resistance and inside the triangle pattern. I expect the Dollar to be under pressure today as price got rejected at the 95.65 level where the 61.8% Fibonacci retracement of the latest decline is found.

Black line - trend line resistance

Blue line - trend line support

The Dollar index reached the 61.8% Fibonacci retracement but remains inside the triangle pattern. Price moved above the Ichimoku cloud but with oscillators at overbought short-term levels I see little potential to move to the upside.

Currency pair swaps to be changed

As a number of national banks have changed their interest rates, and as InstaForex prioritizes optimization of the trading terms, we inform our customers that new swaps are to be effective for some currency pairs since September 26, 2016.

You can find the list of the new swaps on our official site.

We would like to remind you that the swaps are changed regularly as we bring the trading terms in compliance with external market factors. Please adjust your trading strategies to these changes if necessary.

If you have any questions, please feel free to email us.

Daily analysis of GBP/USD for September 09, 2016

According to the H1 chart, GBP/USD is rebounding above the 200 SMA, and we can see a rally towards the highs from the September 6th session. Currently, the overall bullish structure remains alive, as the pair, in terms of price action, has been performing in favour of respecting the key supports. However, if the cable manages to break the 1.3258 zone, then it can fall to the 1.3116 level.

H1 chart's resistance levels: 1.3360 / 1.3480

H1 chart's support levels: 1.3258 / 1.3116

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3360, take profit is at 1.3480 and stop loss is at 1.3240.

Read more: https://www.instaforex.com/forex_analysis/81241

Technical analysis of USD/CAD for September 8, 2016

General overview for 08/09/2016:

As anticipated yesterday the bottom of the wave a purple is now in place at the level of 1.2835 and the wave b is currently in progression. The projected target for wave b purple is recently violated the golden trend line zone, just above the intraday resistance at the level of 1.2886. The clearly visible bullish divergence between the price and momentum oscillator supports the view.

Support/Resistance:

1.3191 - WR2

1.3147 - Technical Resistance

1.3069 - WR1

1.3025 - Weekly Pivot

1.2903 - WS1

1.2886 - Intraday Resistance

1.2859 - WS2

1.2822 - Intraday Support

Trading recommendations:

Daytraders should consider opening buy orders from current price levels with SL just below the intraday support at the level of 1.2831 and TP at the level of 1.2900.

Read more: https://www.instaforex.com/forex_analysis/81208

Daily analysis of GBP/USD for September 07, 2016

GBP/USD is climbing across the board and looking to reach the resistance level of 1.3480. Currently, the bullish momentum is helping the sterling to break the post-Brexit range in which it has been trapped since then.The 200 SMA on H1 chart is providing a good dynamic support and eventually, the pair can test the 1.3685 on a mid-term basis.

H1 chart's resistance levels: 1.3480 / 1.3685

H1 chart's support levels: 1.3360 / 1.3258

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3480, take profit is at 1.3685 and stop loss is at 1.3270.

Read more: https://www.instaforex.com/forex_analysis/81110

Technical analysis of Gold for September 6, 2016

Gold price action was very quiet yesterday mainly because of the holiday in the US and the closed markets. Gold price could have very well started its next leg up towards $1,400 but this scenario will be more valid on a break above $1,350.

Black line - resistance trend line

Gold price is inside the 4-hour cloud resistance area. Gold price has short-term resistance at $1,330-40. A break above it will open the way for a re-test of the highs. Support is at $1,315. A break below it will open the way for a push towards $1,280 and lower.

Blue lines -bullish channel

The weekly candles in Gold show me that there are now increased chances of a multi-week bounce towards our previous highs. Last week's candle is a bullish hammer and if we see a strong follow through then the highs will be challenged. Weekly support is at $1,280 and has not been reached. A new low in Gold will not cancel the bullish scenario but with everyone expecting $1,280 it is no surprise that Gold did not eventually reach that level.


Read more: https://www.instaforex.com/forex_analysis/81078

ShowFx World exposition welcomes guests in Singapore

Professional traders and forex newcomers are kindly invited to attend the annual ShowFx World exposition on September 17th in Singapore. It is no wonder the host chose this city-state as a venue for such a high-profile forex event. Singapore is famous for a very high standard of living and breathtaking architecture. Its hard-working residents are an excellent example of how one should achieve success and wealth.

On September 17, large forex community will arrive at the stunning Marina Bay Sands hotel. It is situated in the heart of the city. On the rooftop of its 200-meter tower, there is world-famous infinity swimming pool overlooking the lively business center.

This year, the focal point of the program will be a seminar and presentation of Harsh Japee, a leading InstaForex analyst.

During the tight 8-hour program, we will ensure a pleasant break with a traditional prize draw. Any participant of the ShowFx World event will be able to win a bonus certificate or high-tech device.

Moreover, every visitor of InstaForex exposition stand will receive a branded souvenir (and a $50 bonus account). If a guest opens a trading account at the exposition site, a $50 bonus will be credited immediately to a deposit. Last but not least, if you invite a friend, you will be rewarded with extra $15 on your deposit (up to three friends).

Technical analysis of EUR/USD for September 05, 2016

Overview:

The EUR/USD pair movement was controversial as it took place in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 1.0949 and 1.1363 this week. Also, the daily resistance and support are seen at the levels of 1.1363 and 1.0949 respectively. Therefore, it is recommended to be cautious while placing orders in this area. So, we need to wait until the sideways channel has completed. last week, the market moved from its top at 1.1363 and continued to fall towards the bottom of 1.1156. Today, in the four-hour chart, the current drop will remain within a framework of correction. Moreover, the resistance is seen at the levels of 1.1274 - 1.1363 (the level of 1.1363 coincides with the double top too). If the pair fails to pass through the first level of 1.1274, the market will indicate a bearish opportunity below the first resistance level of 1.1274. Since there is nothing new in this market, it is not bullish yet. In the long term, sell deals are recommended below the level of 1.1274 with the first target at 1.1046. If the trend breaks the support level of 1.1046, the pair is likely to move downwards continuing the development of a bearish trend to the level 1.0949 in order to test the double bottom in the H4 time frame.

Read more: https://www.instaforex.com/forex_analysis/81038

Change in trading hours on 5th of September


InstaForex informs the clients that trading hours on 5th of September 2016 will be changed due to US national holiday – Labor Day.

Thus, trading on spot and futures instruments on precious metals and energetics will be closed at 20:00 terminal time.

Also the trading on stock CFDs, Futures Agro instruments, Futures Goods, #SPX, #INDU and #COMPQ indexes will not be available.

Trading session will continue operating in a regular mode on Tuesday, September 6.

Technical analysis of USD/CHF for September 02, 2016

Overview:

The USD/CHF pair continues to move downwards from the level of 0.9861. Yesterday, the pair dropped from the level of 0.9861 to the bottom around 0.9762. But the pair has rebounded from the bottom of 0.9762 to close at 0.9800. Today, the first support level is seen at 0.9762, the price is moving in a bearish channel now. Furthermore, the price has been set below the new support at the level of 0.9762, which coincides with the 61.8% Fibonacci retracement level. This support has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the USD/CHF pair is able to break out the first support at 0.9792, the market will decline further to 0.9744 in order to test the daily support 2. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 0.9744 with the second target at 0.9695 and further to 0.9635. However, stop loss is to be placed above the level of 0.9861.

Intraday technical levels:

R3: 0.9949

R2: 0.9901

R1: 0.9861

PP: 0.9792

S1: 0.9744

S2: 0.9695

S3: 0.9635

Read more: https://www.instaforex.com/forex_analysis/80978

Technical analysis of USD/CAD for September 1, 2016

General overview for 01/09/2016:

The clear bearish divergence supports the view, that the top is in place and now a correction should develop. This means the recent rally might be either wave 3 of the bullish progression or wave c purple of a more complex and time-consuming corrective cycle of a higher degree. Any violation of the intraday support at the level of 1.2965 will invalidate the impulsive bullish scenario.

Support/Resistance:

1.2777 - WS2

1.2831 - Wave 2/b Bottom

1.2907 - WS1

1.2958 - Weekly Pivot

1.3032 - 61%Fibo

1.3045 - Intraday Support

1.3088 - WR1

1.3144 - Intraday Resistance

1.3139 - WR2

Trading recommendations:

All buy orders recommended last week should now move their SL to the level of 1.3087 and leave TP still open.

Read more: https://www.instaforex.com/forex_analysis/80920

Technical analysis of EUR/USD for Aug 31, 2016

When the European market opens, some economic data will be released such as Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, German Unemployment Change, French Prelim CPI m/m, French Consumer Spending m/m, and German Retail Sales m/m. The US will release several reports too such as Crude Oil Inventories, Pending Home Sales m/m, Chicago PMI, ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1200.

Strong Resistance:1.1194.

Original Resistance: 1.1183.

Inner Sell Area: 1.1172.

Target Inner Area: 1.1146.

Inner Buy Area: 1.1120.

Original Support: 1.1109.

Strong Support: 1.1098.

Breakout SELL Level: 1.1092.

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/80850

Silver Technical Analysis for August 30, 2016.

Technical outlook and chart setups:

Silver seems to have formed intermediary lows at $18.40 level yesterday and is seen to be trading at $18.75 level at this moment, after having touched almost $19.00 level today. Looking at the wave structure, there is no change and the metal still looks constructive for bulls to stage a rally from here. Please note that the metal has terminated a regular flat (a-b-c) as wave 4 consolidation and the last leg rally has resumed (wave 5). Furthermore, it still remains supported at fibonacci 0.50 levels of the entire rally between $15.70 and $21.13 levels respectively. If this count holds true, the metal should resume its last leg rally (wave 5) towards $20.80/21.00 levels going forward and a break above $19.00/10 levels would confirm the same. The metal is expected to remain in control of bulls till prices stay above $18.25 level. It is hence recommended to remain long now, with stop below $18.25 level. Immediate resistance is seen at $19.20 level, while support is at $18.25 level respectively.

Trading recommendations:

Remain long for now, stop below $18.25, targets are at $20.80 and above $21.13.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/80799

Gold analysis for August 29, 2016

Since our previous analysis, Gold has been trading sideways at the price of $1,319.00. After Yellen's speech on Friday, I found massive reaction from our cluster and strong pin bar in a high volume, which is sign that sellers came in into the market. Be careful when buying and watch for selling opportunities. Take profit level is set at the price of $1,310.70.

Hourly Fibonacci pivot points:

Resistance levels:

R1: 1,324.30

R2: 1,325.00

R3: 1,326.00

Support levels:

S1: 1,322.20

S2: 1,321.55

S3: 1,320.50

Trading recommendations for today: Watch for selling opportunities on the pullbacks.

Read more: https://www.instaforex.com/forex_analysis/80755

Silver Technical Analysis for August 26, 2016.

Technical outlook and chart setups:

Silver seems to have formed intermediary lows at $18.47 levels yesterday and is seen to be trading at $18.65 levels at this moment. Looking at the wave structure, there is no change and the metal still looks constructive for bulls to stage a rally from here. Please note that the metal has terminated a regular flat (a-b-c) as wave 4 consolidation. Furthermore, it has bounced from fibonacci 0.50 levels of the entire rally between $15.70 and $21.13 levels respectively. If this count holds true, the metal should resume its last leg rally (wave 5) towards $20.80/21.00 levels going forward. The metal is expected to remain in control of bulls, till prices stay above $18.25 levels. It is hence recommended to remain long now, with stop below $18.25 levels. Immediate resistance is seen at $19.00/10 levels, while support is at $18.25 levels respectively.

Trading recommendations:

Remain long for now, stop below $18.25, target $20.80 and above $21.13.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/80673

Technical analysis of USDX for August 25, 2016

The Dollar index is holding above the trend line support at 94-94.20 but has not showed much strength in order to overcome cloud resistance at 94.90-95.30. A rejection here and a break below 94.20 will bring in more sellers that will eventually push price towards 93.

Blue line - trend line support Red line - trend line resistance Price is below the Ichimoku cloud and trapped between the red and blue trend lines. Support is at 94.30-94.20 while resistance is at 95-95.30. Short-term trend is neutral as price has been moving mainly sideways for the last couple of days.

Green line - weekly trend line support

Price is holding above the weekly trend line support. A break below 94.18 will be a bearish sign. With stochastics turning lower from overbought levels and price below the weekly cloud, chances favor the bearish scenario and a downward break for the Dollar index. All we need to do is be patient and wait to see if support fails.

Read more: https://www.instaforex.com/forex_analysis/80623

Silver Technical Analysis for August 24, 2016.

Technical outlook and chart setups:

Silver is seen to be trading around $18.93 levels at this moment, after forming lows at $18.70 levels earlier this week. Please note that the metal has produced a regular flat as wave 4 consolidation. It might push lower below $18.70 levels one last time before turning bullish again. Furthermore, the metal has bounced from fibonacci 0.382 levels of the entire rally between $15.70 and $21.13 levels respectively. If this count holds true, the metal should resume its last leg rally (wave 5) towards $20.80/21.00 levels going forward. The metal is expected to remain in control of bulls, till prices stay above $18.60/70 levels. It is hence recommended to remain long now, with stop below $18.25 levels. Immediate resistance is seen at $20.50 levels, while support is at $18.25 levels respectively.

Trading recommendations: Remain long for now, stop below $18.25, target $20.80 and above $21.13.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/80547