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Technical analysis of USDX for July 02, 2018

https://forex-images.ifxdb.com/userfiles/20180702/analytics5b39a3169de78.jpg

USD Index at Daily Charts seems meeting its strong Resistance level at 95.05, and this level looks like a good barrier for the USDX to continue going up, in a few days ahead there is a possibility the USDX will go down to test 94.67 as its first target and the 93.19 as its secondary target as long as the USDX does not break out and closes above 95.53.

(Disclaimer)

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade*

Read more: https://www.instaforex.com/forex_analysis/119576

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AUD/CAD Testing Major Support, Look For The Bounce

AUD/CAD is testing major support at 0.9737 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a strong bounce could occur at this level to push prices all the way up to major resistance at 0.9809 (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing strong support above 5.8% where a corresponding bounce could occur. Buy above 0.9737. Stop loss at 0.9698. Take profit at 0.9809.
https://forex-images.ifxdb.com/userfiles/20180629/analytics5b35c96467a84.png

Read more: https://www.instaforex.com/forex_analysis/119506

Elliott wave analysis of EUR/JPY for June 28, 2018

https://forex-images.ifxdb.com/userfiles/20180628/analytics5b34523737850.png

We have expressed our caution the last couple of days, as EUR/JPY has failed to accelerate higher. With the break below support at 127.24, our bullish outlook has been invalidated and we have had to review our larger count. The new top-count shows that wave (E) of the huge triangle consolidation that has been developing since July 2008 still is developing, within a triple zig-zag correction and that wave Z lower to near 123.52 still should be seen. A decline to 123.52 will also be a 50% correction of wave (D). Resistance is now seen at 127.88 and again at 128.24.

R3: 128.84

R2: 128.24

R1: 127.88

Pivot: 127.55

S1: 127.12

S2: 126.97

S3: 126.61

Trading recommendation: Our stop at 127.20 was hit. We will stand aside for now.

Read more: https://www.instaforex.com/forex_analysis/119420

InstaForex contests unveil new brilliant traders

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InstaForex Sniper

This contest is tailor-made for the fastest and most accurate traders. The latest tournament revealed that Ihor Stepanovich Berezovskyi was a terrific sniper. Get ready for the next step of InstaForex Sniper which will be held from July 2, 2018 to July 6, 2018.

FX-1 Rally

Nadejda Sergeyevna Savochkina, a trader from Uzbekistan, was the best to cover the whole distance of FX-1 Rally, displaying remarkable trading and racing skills. We congratulate the winner on a stunning victory and wish her to confirm the title of the best racer in other stages. If you long for a fierce challenge and are eager to feel the thrill of a race, welcome to the starting line of FX-1 Rally! You can register and take part in the nearest tournament which will take place from 00:00 July 9, 2018 to 23:59 July 20, 2018.

Lucky Trader

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Real Scalping

Short-term trading is a rather complicated and meticulous type of trading which requires careful attention. Hardly everyone is attentive, focused, and quick-witted enough to succeed in scalping. These are the key traits to win the Real Scalping competition. This time, Sergey Nikolayevitch Alekseev displayed all these qualities and grabbed the first prize. InstaForex congratulates the winner and invites other traders to participate in the contest. Everyone willing to test their skills can register for the Real Scalping contest. The next round will begin on July 2, 2018 and finish on July 27, 2018.

Elliott wave analysis of EUR/NZD for June 27, 2018

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EUR/NZD took the more bullish alternate count and rallied directly higher. The first target at 1.7070 has already been exceeded opening for a continuation higher towards 1.7130 and even closer to 1.7240 if red wave v extends.

Support is now seen at 1.7016 and only a break below here, will confirm that wave i/ has completed and wave ii/ towards 1.6833 is developing.

R3: 1.7240

R2: 1.7185

R1: 1.7130

Pivot: 1.7073

S1: 1.7041

S2: 1.7016

S3: 1.6960

Trading recommendation: After taking 50% profit at 1.7000 yesterday, we are still 50% long EUR from 1.6815. We will raise our stop to 1.7010.

Read more: https://www.instaforex.com/forex_analysis/119349

Elliott wave analysis of EUR/JPY for June 26, 2018

https://forex-images.ifxdb.com/userfiles/20180626/analytics5b31ad8e76fec.png

EUR/JPY is working its way higher, but we would like to see some real upside acceleration soon. A clear break above resistance at 128.60 should be able to provide the upside acceleration we are looking for towards 130.53 and above here confirms continuation towards the 136.88 target.

Support is now seen at 128.04 and again at 127.85. The later will ideally be able to protect the downside for the next attack of resistance at 128.60.

R3: 129.45

R2: 128.96

R1: 128.60

Pivot: 128.43

S1: 128.04

S2: 127.85

S3: 127.66

Trading recommendation: We are long EUR at 128.15. We will move our stop slightly higher to 127.20. If you are not long EUR yet, then buy EUR in the 127.85 - 128.05 zone or upon a break above 128.60 and use the same stop at 127.20.

Read more: https://www.instaforex.com/forex_analysis/119272

Reluctantly, the Australian falls

AUD / USD

On Friday, the Australian dollar increased significantly, adding 63 points. This growth seems completely unjustified. OPEC + decided to increase production by 1 million barrels per day. True, the prices for raw materials have slightly increased, but the political situation is unlikely to give any further to this trend. US President Trump announced the development of new sanctions (or rather, tariffs and duties) for the Chinese economy.

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On the chart of H4, the price could not gain a foothold over the Kruzenshtern blue line, which could push the price back under the balance sheet. In this case, the output of the Marlin oscillator signal line to the positive zone (marked with an arrow) can be completed. To return the price under the balance sheet and the indicator Marlin in the negative zone (the reduction zone) will take time and effort of the market. This effort can be expressed in a horizontal trend. The price reduction to support the trend line (0.7327) may take three days.

https://forex-images.ifxdb.com/userfiles/20180625/analytics5b3075aaea480.png

Elliott wave analysis of EUR/NZD for June 22, 2018

https://forex-images.ifxdb.com/userfiles/20180622/analytics5b2c69d4a9c32.png

The minor correction we expected from 1.6921 moved slightly lower than expected and spiked down to 1.6806, but that does not change our outlook for a new impulsive rally soon towards 1.7133 and above.

Short-term, we could see another minor spike to near 1.6806 before the next move higher should be expected.

Only an unexpected break below support at 1.6737 will question our bullish outlook.

R3: 1.7025

R2: 1.6964

R1: 1.6933

Pivot: 1.6890

S1: 1.6837

S2: 1.6784

S3: 1.6737

Trading recommendation: We are long EUR from 1.6815 with our stop placed at 1.6730. If you are not long EUR yet, then buy near 1.6806 or upon a break above 1.6933 and use the same stop at 1.6730.

Read more: https://www.instaforex.com/forex_analysis/119107

Global macro overview for 21/06/2018

The Bank of England also should not change the policy parameters (interest rates, asset purchase program). Previous supporters of the hike (McCafferty and Saunders) should stay with their opinion, but the rest of the committee will keep its cautious approach. Data from the last meeting do not give clear indications that the second quarter brings such an important rebound after the weak start of the year. PMI indexes rebounded and prices in the industry are rising, but production in April collapsed. Nevertheless, BoE would probably like to make a hike before the settlements (or the confusion because of their absence) of Brexit negotiations, which will take place in October / November. For this reason, the hopes for a hike in August are not going away, but today's BoE is unlikely to suggest whether it is more or less real. However, even small changes in the content of the message regarding the assessment of economic activity may be significant for today's GBP behavior. Risk asymmetry shows an advantage in favor of the Pound, because the neutral statement will not disturb growing expectations for the August increase. The Bank of England is expected to hold the interest rate at 0.50%, together with Asset Purchase Facility at 435bln. The BoE decision is scheduled at 11:00 am GMT, together with Monetary Policy Summary release. Let's now take a look at the GBP/USD technical picture at the H4 time frame. The key technical resistance at the level of 1.3217 is still not violated as the bulls were too weak to break through it. Since then, the price has fallen towards the level of 1.3124 in a Falling Wedge formation. In a case of a further drop, the next important support is seen at the level of 1.3000 and this level might be very well defended by bulls. Please notice, the market conditions are now oversold on multiple timeframes and the momentum is still weak as it hovers below its fifty level.

https://forex-images.ifxdb.com/userfiles/20180621/analytics5b2b54605de9f.jpg

Read more: https://www.instaforex.com/forex_analysis/119042

Technical analysis on USDX for June 20, 2018

The Dollar index remains in a bullish trend. Price is near its 2018 highs. My longer-term view is bearish but there is no sign for a reversal yet. There are some warnings but no confirmed reversal sign yet.


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Black line - resistance

Red line - support

The Dollar index remains in a bullish trend. Price is above the Ichimoku cloud and above the red trend line support. Short-term support is found at 94.89. Resistance is at 95.30. The RSI is diverging despite the new higher highs. This is a bearish warning. Below 94.89 I would look to open short positions and increase them on a break below the cloud and the red trend line support.

Read more: https://www.instaforex.com/forex_analysis/118917

Global macro overview for 19/06/2018

It is the lunchtime in Europe now, but the gloomy atmosphere denies to leave investors. The largest European indices remain in red, expressing concern about the speech made by President Donald Trump, during which he threatened to impose additional duties on Chinese products. On the plus side, however, it can be noted that for two hours you can see modest rebound attempts. The futures market on Wall Street has so far yielded less effective price drops than on European or Asian markets. Futures on the SP500 are only sliding by 0.2%, while futures from NASDAQ almost do not record changes in the exchange rate. In a similar condition is the German DAX, which dropped by about 1.5%. Beiersdorf was the only company listed in the DAX index to record increases during today's session. On the currency market, traders can observe increases in USD and JPY, which means the global investors are running to the so-called safe haven assets. Gold also has a price increase, but only by about 0.1%. These movements may be justified by the widespread fear of developing political disputes between China and the US. WTI oil erases yesterday's increases, which were the result of OPEC's less radical approach to raising the level of output, falling by more than 1 percent. and staying at the limit of USD 65 per barrel. The price of cotton falls another day, losing about 2.5%, leveling the levels at the end of May. Let's now take a look at the German DAX index technical picture at the H4 time frame. The market opened with a gap down this morning and so far made a low at the level of 12,600, which is a technical support for the price. Currently, the bulls are trying to fill the gap between the levels of 12,837 - 12,684, but so far no avail. The other obstacle on the road higher for bulls is the golden internal trend line, which is acting as a dynamic resistance. If the bulls will be too weak to move higher, the bears will push the price lower again towards the level of 12,547. Weak momentum and stochastic pointing to the downside support the bearish bias.

https://forex-images.ifxdb.com/userfiles/20180619/analytics5b28e3ef33ff4.jpg

Read more: https://www.instaforex.com/forex_analysis/118851

Chancy deposit to equal $8,000 in June

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https://forex-images.ifxdb.com/company_news/userfiles/chancy_deposit_1_en.jpg

Global macro overview for 14/06/2018

Not that long ago global investors thought that the risks to the Euro before the meeting outweighed the negative side, because they assumed, that the currency could strengthen based on the expectations of the hawkish result of the meeting, while the tone of decisions and conferences may be less aggressive or result in "sale the facts" behaviour. Nevertheless, the next few days brought stabilization, if not even cooling the demand for EUR, which made investors' attitude return into balance. But the rebound of the EUR/USD after the yesterday's Fed's decision prompts to conclude, that the market is again setting up on a hawkish ECB message. There is a potential for a positive reaction to the decision of the ECB regardless of whether the traders will know the specific details of extending the QE, or the decision will be postponed until July and today we will have to rely on Draghi's suggestions.

In the latter case, a lot will depend on how optimistic Draghi will be about the prospects of accelerating the recovery in the Eurozone and return of inflation to the target levels while reducing the importance of internal risks (like uncertainty in Italy, deterioration in economic data, etc.) and external (like US trade policy and tariffs tax ). However, if the ECB shows that it remains at a previously set exchange rate, it may offer investors confidence in building expectations of a progressive normalization of monetary policy, which will be an important pillar of the long-term EUR power. Let's now take a look at the EUR/USD technical picture at the H4 timeframe, before the ECB interest rate decision was made. The price has bounced higher after the Fed interest rate hike yesterday and now the market is approaching the swing high at the level of 1.1839. An interest rate hike by ECB or Draghi hawkish remarks will make EUR/USD to rally way higher than this level.

In this case, the first target would be at the level of 1.1994 (practically round number 1.2000), but in that case, I think it might get extended even to the level of 1.2068 easily. If, however, the ECB will leave the rate unchanged or the Draghi remarks will not be as hawkish as expected, the EUR/USD will likely test the 38% Fibo at 1.1852 and stop there to consolidate the gains.
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Fundamental Analysis of EUR/JPY for June 13, 2018

EUR/JPY has been quite corrective and volatile above 129.50 area which indicates the bearish pressure persists in the current market situation. Though JPY has been quite weak with the recent fundamentals providing no hint for further gains, EUR is also struggling for gains as well. Recently, Japan's economic reports were published with mixed results, including BSI Manufacturing Index decreasing to -3.2 from the previous positive value of 2.9 which was expected to increase to 3.2 and PPI report was published with an increase to 2.7% which was expected to be unchanged at 2.1%.

Moreover, Tertiary Industry Activity also showed a surge to 1.0% from the previous negative value of -0.3% which was expected to be at 0.6%. Ahead of the upcoming BOJ Policy Rate and Policy Statement this week, JPY is expected to gain certain momentum over EUR if Japan manages to provide upbeat economic reports consistently in the coming days. On the other hand, today the eurozone's Employment Change report is going to be published which is expected to be unchanged at 0.3% and Industrial Production report is expected to decrease to -0.6% from the previous value of 0.5%.

Though forecasts are quite dovish at the moment for EUR, certain gains against EUR can be observed ahead of the ECB Press Conference to be held tomorrow. As for the current scenario, certain volatility and correction is likely to persist in the pair in the coming days which may lead to certain indecision and indefinite pressure in the pair. Though JPY is expected to have an upper hand, recent eurozone's economic reports signal a further struggle of the currency in the future. Now let us look at the technical view.

The price is currently a bit bullish after the severe bullish rejection based daily candle closed yesterday above 129.50 area. Currently the price is to push lower towards 124.50 support area as it remains below 131.50 area. So, the bearish bias is expected to continue further in the coming days.

https://forex-images.ifxdb.com/userfiles/20180613/analytics5b20bba722ab2.png

Read more: https://www.instaforex.com/forex_analysis/118413

Wave analysis of EUR/USD for June 12. The pair is expected to resume growth.

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Analysis of wave counting:

During trading on Monday, the EUR/USD fell 40 basis points from the highs of the day, and this development fits perfectly into the scenario of constructing the correctional wave 4, in the composition of the future wave 1, in 1, in 3. If this assumption is correct, then after the completion of the construction of the internal wave c, at 4, the rise in quotations within the framework of wave 5 with targets above the estimated mark of 1,1837, which corresponds to 200.0% of Fibonacci. After the completion of the construction of wave 5, a decrease in the region of 17 figures is expected in the framework of constructing the corrective wave 2, at 1, at 3.

Targets for selling: 1.1700 - 1.1650

Targets for buying:

1.1958 - 161.8% by Fibonacci of the highest order

1.2070 - 127.2% by Fibonacci of the highest order

General conclusions and trading recommendations:

The EUR/USD currency pair is supposed to be within the framework of wave 4, at 1, at 1. Based on this, it is recommended to keep buying in order to build a wave of 5, at 1, at 1 with minimal targets near the mark of 1.1837. Successful attempt to break the mark of 1,1837 will lead to a further increase in quotations with a target of about 1.1958, which is equivalent to 161.8% of Fibonacci. During the construction of wave 5, at 1, at 1 it is recommended to reduce buying gradually, because after the completion of this wave, a decrease in the area of 17 figures is possible.

Read more: https://www.instaforex.com/forex_analysis/207430

Technical analysis on Gold for June 11, 2018

Gold price has broken above the medium-term trend line resistance, back tested it but still remains inside the $1,307-$1,290 trading range. We continue to be bullish on Gold, expecting at least a bounce towards $1,320-30.

https://forex-images.ifxdb.com/userfiles/20180611/analytics5b1e16fe7e7cb.png

Yellow line - medium-term resistance

Magenta lines - trading range

Green line - target Gold price is trading above the yellow trend line resistance.

Support is at $1,293 and next at $1,289. Resistance is at $1,303.25 and next at $1,307. For several days Gold has been moving sideways. My longer-term view remains bullish, but a break below $1,288 could see Gold price dip to $1,275 before turning higher. So traders should keep this scenario also in mind.

Read more: https://www.instaforex.com/forex_analysis/118203

EUR/AUD reversed nicely off resistance, prepare for a drop

EUR/AUD reversed off its resistance at 1.5515 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect the price to drop to the support at 1.5289 (horizontal swing low support). We have to be cautious and watch for the intermediate support at 1.5385 (50% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) has also reversed off its resistance at 95% where a corresponding drop is expected.

Sell below 1.5515. Set stop loss at 1.5601 and take profit at 1.5289.

https://forex-images.ifxdb.com/userfiles/20180608/analytics5b1a0aebc3b80.png

Elliott wave analysis of EUR/NZD for June 7, 2018

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EUR/NZD has rallied nicely from the 1.6598 low and is currently testing important resistance at 1.6764. We need a clear break above here, to confirm that wave ii did complete at 1.6598 and wave iii higher to above 1.7300 is developing.

Short-term, we could see a set-back from important resistance at 1.6764 towards 1.6688 for a new challenge of resistance at 1.6764 and the next time we expect a clear break confirming wave iii/ higher towards 1.6937 starts to develop.

At this point on a break below minor support at 1.6612 will question our bullish outlook.

R3: 1.6874

R2: 1.6929

R1: 1.6786

Pivot: 1.6764

S1: 1.6720

S2: 1.6704

S3: 1.6688

Trading recommendation: We are long EUR from 1.6600 and will raise our stop from 1.6510 to 1.6610. If you are not long EUR yet, then buy near 1.6688 or upon a break above 1.6764.

Read more: https://www.instaforex.com/forex_analysis/117947

Good news is overdue

AUD / USD

Yesterday, the Australian dollar against the growth of European currencies fell by 30 points. The pessimism was influenced by the Reserve Bank of Australia's statement on the growth of political and economic risks, high lending to households, cooling mortgages, and undesirability of the high exchange rate of the national currency for the economy. But this morning, the excellent GDP data for the first quarter came out. The economic growth was 1.0% vs. the forecast of 0.8% and the annual growth estimate was 3.1% vs. the forecast of 2.8%. As part of the GDP, household consumption increased by 0.3% q/q. Capital expenditures increased by 0.5% in the quarter against -0.9% in the fourth quarter.

But tomorrow, the trade balance for April will be published and projected to lower the balance from 1.52 billion dollars to 1.00 billion. On the same day, the US consumer lending data is expected to increase from 11.6 billion dollars to 13.9 billion. In a week, the Fed will take a decision on monetary policy with a high probability that the rate will be raised. Typically, pressures from the media and the preparation of markets begins one week before the FOMC meeting. We are waiting for the decline of the Australian currency to 0.7570.

https://forex-images.ifxdb.com/userfiles/20180606/analytics5b1763b745c7a.png

Read more: https://www.instaforex.com/forex_analysis/207069

From Paris with... victory!

The Russian tennis player and InstaForex brand ambassador Daria Kasatkina has secured the important victory in the 4th round of the top tournament Roland Garros. Darya had to play against a current Australian open title holder and the World No.2 Caroline Wozniacki.

However all the titles of opponent made a little impression on Kasatkina. It took her less than 2 hours to win in straight sets (7:6 6:3).

In quarter-final Daria Kasatkina will face the No. 10 seed Sloane Stephens from the United States.

Roland Garros is the premier clay court tennis championship event in the world and the second of four annual Grand Slam tournaments. The final of the tournament will take place on 9th of June and the total price fund exceeds 39 million Eur.

https://forex-images.ifxdb.com/company_news/userfiles/10_1.jpg

The British pound is not pleased

GBP / USD

In the first half of Monday, the British pound rose by 50 points due to business activity growth in the construction sector, as the May estimate did not changed since April (52.5) but did not fall to the projected 52.0. At the same time, Silvana Tenreyro, a member of the Bank of England's Monetary Policy Committee, announced several possible rate increases over the next three years. But, firstly, it only confirmed the already known line of the Central Bank and secondly, Tenreyro has always been distinguished by increased (and subsequently unjustified) optimism in this regard. As a result, the pound closed the day with a decrease to 35 points under the pressure of the dollar.

Today, the UK business activity index for May is expected to rise to 52.9 from 52.8. The American ISM Non-Manufacturing PMI is expected with even greater growth from 56.8 to 57.9, balance in favor of the dollar. We are waiting for the British pound in the range of 1.3225 / 45.

https://forex-images.ifxdb.com/userfiles/20180605/analytics5b161631a3152.png

Read more: https://www.instaforex.com/forex_analysis/206997

Elliott wave analysis of EUR/NZD for June 4, 2018

https://forex-images.ifxdb.com/userfiles/20180604/analytics5b14b11b67dd7.png

We are still looking for a clear break above minor resistance at 1.6764 to confirm that wave ii has bottomed and wave iii to above 1.7300 is ready to develop. As long as minor resistance at 1.6764 is able to cap the upside, a final dip to just below 1.6605 can not be excluded. However, the clear loss of downside momentum does argue, that a low already has been seen at 1.6605 or will be seen just below here for a new rally soon.

R3: 1.6825

R2: 1.6764

R1: 1.6720

Pivot: 1.6675

S1: 1.6636

S2: 1.6605

S3: 1.6584

Trading recommendation:

We will buy EUR at 1.6600 or upon a break above 1.6764. If our buy-order at 1.6600 is done, we will place our stop at 1.6510.

Read more: https://www.instaforex.com/forex_analysis/117584

Fundamental Analysis of USD/CHF for June 1, 2018

USD/CHF has been quite impressive inside the the bearish bias recently after being rejected off the 1.0035 area with a daily close. Ahead of the upcoming high impact US economic reports to be published today, the market is currently quite indecisive and volatile at the edge of 0.9850 area. Today, US Average Hourly Earnings report is going to be published which is expected to increase to 0.2% from the previous value of 0.1%, Non-Farm Employment Change report is expected to increase to 189k from the previous figure of 164k and Unemployment Rate is expected to be unchanged at 3.9%. Though are a lot of speculations whether US economic reports wil be strong. If true, it may lead to further momentum in USD.

On the other hand, today Switzerland Manufacturing PMI report was published with a slight decrease to 62.4 from the previous figure of 63.6 which is expected to make certain weakness effect on the CHF gains against USD in the coming days. As for the current scenario, high impact economic reports from the US today is expected to encourage USD gains further in the coming days. Though CHF has been gaining quite well against USD recently, upcoming positive economic reports may lead to continuation of the bullish trend in the pair in the future.

Now let us look at the technical view. The price is currently residing at the edge of 0.9850 support area from where certain bullish pressure is expected in this pair.

Ahead of the upcoming high impact USD economic reports today, the market is expected to be volatile but as the price remains above 0.9850 with a daily close, certain bullish pressure is expected in this pair. On the other hand, a break below 0.9850 with a daily close, will lead to further bearish pressure in the pair with target towards 0.97.

https://forex-images.ifxdb.com/userfiles/20180601/analytics5b1111eb4f926.png

Read more: https://www.instaforex.com/forex_analysis/117532

Global macro overview for 31/05/2018

The ADP Non-Farm Employment Change data published yesterday had indicated, that in May in the private sector of the American economy, the number of jobs increased by 178,000. That's less than the consensus (190,000), but still a decent figure. At the same time, the previous reading has been revised downwards (from 204,000 to 163,000). A decent rate of creation of new jobs is not shocking anyone. It also seems that with such low unemployment (below 4%), the pace of employment growth must finally slow down. Therefore, the key carrier of information on the condition of the labor market, especially in the context of the Fed's policy outlook, is the growth of wages. This data, of course, we will get to know on Friday, but already the secret of the power of broader trends has been abolished by the Beige Book of the Fed containing a description of the economic situation in individual regions.

The Beige Book prepared for the 12-13 June FOMC meeting, covering information through 21 May, indicated few material changes in the trajectory of economic growth in most districts.

A large number of districts reported acceleration in manufacturing and industrial activity, but the outlook for employment and wage growth was largely unchanged with most districts reporting moderate increases in employment but only modest increases in wages.

It looks like the global investors will have to wait for the Friday's Non-Farm Payrolls data to make themselves more familiar with the latest details in the US job market direction. Let's now take a look at the SP500 technical picture at the H4 time frame.

The market remains locked in a horizontal zone between the levels of 267.96 - 274.15 in neutral market conditions. This consolidation might take some time as the broader technical pattern that is being formed at the larget time frames looks like a triangle.

The key level to the upside is still the zone between the levels of 274.15 - 273.42. The key technical support is seen at the level of 259.36.
https://forex-images.ifxdb.com/userfiles/20180531/analytics5b0f9ed8b0b4c.jpg
Read more: https://www.instaforex.com/forex_analysis/117387

HKm Zvolen lacks 2 points to become the leader of the season

The season of the hockey championship in Slovakia came to the end. The partner of the company HKm Zvolen took the second place in the regular championship, being some two points away from leading.

During the extraleague, Zvolen knights were fighting as hard as they could. As a result, they entered the playoffs and reached the semi-finals. In a dramatic fight on the ice, our players took a back seat, but showed some muscle and offered worthy resistance to the Dukla Trencin team. The score was two to four in favor of the opponent.

In general, hockey players have created quite a lot of tense situations, unsettling their rivals. One of the strong points in the 2017-2018 season was the attack, the players masterfully put the biscuit in the opponent's basket. The best goal scorer of the Slovakian extraleague was a forward of Zvolen, Timothy Coffman. There are 33 pucks on his account.

Now the athletes of HKm Zvolen are taking a break to gain strength and train. So we are looking forward to their victorious results in the next season. We, in our turn, continue to support an active way of life and a desire for victory, providing sponsorship to promising young teams. Following the results of the season, the club on behalf of the management and the hockey team thanked InstaForex for the long-standing support and contribution to the club's development, awarding the company with a certificate of gratitude.

[img]https://forex-images.ifxdb.com/company_news/userfiles/1HKM%20Zvolen%20for%20InstaForex%20(510x350)%20for%20InstaForex.jpg[/img]

GBP/JPY Approaching Support, Watch For A Bounce

GBP/JPY is approaching our support at 143.08 (Horizontal overlap support, 78.6% Fibonacci retracement, 100% Fibonacci extension) where we expect price to bounce above this level to our resistance at 146.20 (horizontal pullback resistance, 100% Fibonacci extension, 50% Fibonacci retracement). Stochastic (55,5,3) is also seeing a bullish divergence and is approaching its support where a bounce off this level will see a corresponding rise in price.

GBP/JPY is approaching support where we expect a bounce.

Buy above 143.08. Stop loss 141.21. Take profit at 146.20.

https://forex-images.ifxdb.com/userfiles/20180530/analytics5b0e6d649dd58.png

Elliott wave analysis of EUR/JPY for May 28, 2018

https://forex-images.ifxdb.com/userfiles/20180528/analytics5b0b748b0e16b.png

With the direct decline to 127.11, we need to reconsider the potential downside for now. If the wave C/ had dropped to 127.06, the wave A/ and C/ would have been exactly equal in length. As EUR/JPY turned almost exactly from the equality target at 127.06, we will have to consider the wave Y and maybe even the wave (E) as complete. Therefore, we have changed our stand temporary and will be looking for a rally back up to 130.30 and maybe even closer to 131.05 before a possible new push lower in a triple zig-zag correction.

A break above the minor resistance at 128.53 will confirm that a low is in place for a rally towards at least 130.30.

R3: 129.93

R2: 129.31

R1: 128.87

Pivot: 128.35

S1: 127.94

S2: 127.68

S3: 127.11

Trading recommendation:

We will buy EUR at 127.75 or upon a break above 128.35. We will place our stop at 127.05.

Read more: https://www.instaforex.com/forex_analysis/116963

Wave analysis of GBP / USD for May 25. The 33rd figure can be a starting point for an upward trend segment

https://forex-images.ifxdb.com/userfiles/20180525/analytics5b07bb9327c49.png

Analysis of wave counting:

During the trading on May 24, the GBP / USD currency pair failed to update the minimum of May 23. Thus, the instrument continues to make attempts to form the first wave in the composition of the future wave 2, in the downtrend section of the trend. If this assumption is true, then the increase in quotations will continue to at least 35 and 36 figures. A break of the 1.3300 mark will lead to an even more complication of the internal wave structure of the proposed wave 1, a, and further lowering of quotations in the region of 31 figures.

The objectives for the option with purchases:

1.3528 - 127.2% of the Fibonacci of the highest order

1.3555 - 200.0% of Fibonacci

The objectives for the option with sales:

1.3300 - 161.8% of the Fibonacci of the highest order

1.3300 - 261.8% of Fibonacci 1.3045 - 200.0% of the Fibonacci of the highest order

General conclusions and trading recommendations:

The instrument continues to make an attempt in completing the construction of wave 1, a. Around 1.3300, I recommend fixing the profit, and new sales should be started if a successful breakthrough attempt of 33 figures is made. The targets for the complicated wave 1 are located near the calculated mark of 1.3045, which corresponds to 200.0% of Fibonacci, constructed from the size of the entire wave 5 of the rising trend section, which ended on April 17. I recommend buying the pair very carefully and with Stop Loss under the minimum of wave 1, a as well.

Read more: https://www.instaforex.com/forex_analysis/206422

Bloomyloo:
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Good news from Liverpool FC

The news was prepared within the framework of the official cooperation of InstaForex with Liverpool Football Club.

The final match for Liverpool in the Premier League season, in which Reds hosted Brighton, was to answer two questions at once.

The first question whether Jürgen Klopp's squad would qualify for the Champions League was resolved without Reds' direct participation. Chelsea's bruising defeat to Newcastle ended its faint hopes to snatch a place in the Premier League's top four.

It was equally important for Kopites to find out whether Liverpool ace, Mohamed Salah, would break a long-standing record of 31 goals shared by Alan Shearer, Cristiano Ronaldo, and Luis Suarez in a 38-game Premier League.

The answer came at the 26th minute, when the Egypt star lashed a left-footed shot to the bottom right corner of the Brighton net, moving onto 32 goals for the season. The new scoring record made Salah win Premier League Golden Boot. Teammates backed his initiative and hammered Brighton 4-0.

Liverpool will now face Real Madrid in UEFA Champions League final on May 26 in Kiev. On such a positive note, Liverpool cannot but win the upcoming final for the most prestigious competition in European club football, returning the trophy after a thirteen-year break. As an official partner, InstaForex wishes good luck to its favorite team.

https://forex-images.ifxdb.com/company_news/preview/Final.jpg

Global macro overview for 24/05/2018

Yesterday, FOMC Meeting Minutes confirmed the willingness of further gradual interest rate hikes by the Fed. The market is convinced that another 25 bp cost increase will take place in June. Thus, the process of monetary policy normalization would be continued. In the last statement, the Fed pointed to the symmetry of the inflation target. Yesterday's minutes revealed that the majority of FOMC members are ready to tolerate higher price dynamics for some time, which, given the slight wage pressure, may be an argument for three rather than four interest rate hikes this year. Attention was also paid to the need to change the language of the message and remove the phrase referring to the expansive attitude in monetary policy. Some Fed members believe that monitoring the shape of the yield curve of US bonds remains an important issue. The reverse yield curve can be an indicator that can signal the risk of occurrence. In conclusion, the Fed is about to hike the interest rates in June. The question remains whether the Fed will hike again in September and in December or just in December? Nevertheless, the US Dollar should continue its appreciation across the board. Let's now take a look at the US Dollar Index technical picture at the H4 time frame. The bulls have managed to make another local high at the level of 94.19 in overbought market conditions and despite the growing bearish divergence. The price is still trading inside of the channel and as long as the support zone between the levels of 93.21 - 93.11 is not cleary violated, the dominant bias is bullish.

https://forex-images.ifxdb.com/userfiles/20180524/analytics5b0699a585731.jpg

Read more: https://www.instaforex.com/forex_analysis/116781