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You can start trading with Instaforex with as low as $1, moreover, you can open an account with our startup bonus, you will be credited with minimum of $500 and maximum of $5000, to start trading, without your own investments and account verification. The offer is available to all new clients of InstaForex and those traders who made no deposits within the last six months. https://www.instaforex.com/no_deposit_bonus

[B]The text of the Fed's protocol can further strengthen the dollar[/B]

The market is looking forward to the publication of the text during the minutes of the meeting of the Federal Commission for Open Market Operations, as they hope to see an answer to the question regarding the pace of the rate increase.

Against the backdrop of lacking news on the previous days, the dollar has some strengthened in anticipation of today's news. First preliminary data on business activity indices in Europe came out, which can further ruin the life of the single European currency. The index in the service sector should decrease from 58.0 to 57.6, and the production index from 59.6 to 59.3, and as a result, the composite index will decrease from 58.8 to 58.5. But the pound has a chance to improve its position to some extent. Not only that, the number of applications for unemployment benefit in the previous month of 8,600 last month may increase by 4,100 amid the stability of the unemployment rate and the rate of wage growth. Also, borrowing of the public sector should be reduced by 11.1 billion pounds.

However, the dollar's growth will increase in the second half of the day. Preliminary data on indices of business activity can show growth. In particular, the index in the service sector should grow from 53.3 to 54.0, although the production index may fall from 55.5 to 55.4. But the service sector has a heavier impact, the composite index is expected to grow from 53.8 to 54.4. Moreover, home sales in the secondary market may show an increase of 0.9%. Well, the most important event not only for the day but also for the whole week s the publication of the text of the minutes of the recent meeting of the Federal Commission for Open Market Operations. The regulator planned, as many as, three increases for the current year. If the Fed confirms its plans last year, then the dollar will have many reasons for growth.

The EUR/USD pair will decline to the level of 1.2250. If the contents of the text of the protocol disappoint investors, we should expect growth to 1.2425.It should contain answers to the question about the rate of increase in the refinancing rate in the current year. At the moment, almost everyone agrees that the Fed will raise the rate at least once. But do not forget, this was similar even last year.


https://forex-images.ifxdb.com/userfiles/20180221/analytics5a8d1b23e3f2e.jpg

If the text of the minutes of the meeting of the Federal Commission for Operations in the open market will please investors, the GBP/USD pair will drop to the level of 1.3850. Otherwise, we expect growth to 1.4100.

https://forex-images.ifxdb.com/userfiles/20180221/analytics5a8d1b2a96aa9.jpg

Read more: https://www.instaforex.com/forex_analysis/200197

Analysis of gold for February 20, 2018

https://forex-images.ifxdb.com/userfiles/20180220/analytics5a8bf5a18dcd5.png

Recently, gold has been trading downwards. The price tested the level of $1,336.00. According to the 30M time frame, I found that the price is trading in the downward channel, which is a sign that sellers are in control. I also found a broken bearish pennant in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,330.00.

Resistance levels:

R1: $1,350.07

R2: $1,353.52

R3: $1,355.65

Support levels:

S1: $1,344.49

S2: $1,342.35

S3: $1,338.91

Trading recommendations for today: watch for potential selling opportunities.

Read more: https://www.instaforex.com/forex_analysis/110152

Technical analysis of GBP/USD for February 19, 2018

https://forex-images.ifxdb.com/userfiles/20180219/GBPUSDH4.png

Overview:

The GBP/USD pair opened below the resistance of 1.4055. It continued to move downwards from the level of 1.4055 to the bottom around 1.4015. Today, the first resistance level is seen at 1.4055 followed by 1.4123, while the daily support 1 is seen at 1.3901. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 1.4055. So it will be good to sell at 1.4055 with the first target of 1.3986. It will also call for a downtrend in order to continue towards 1.3901. The strong daily support is seen at the 1.3901 level. According to the previous events, we expect the GBP/USD pair to trade between 1.4055 and 1.3901 in the coming hours. The price area of 1.4123 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 1.4123 is not broken. On the contrary, in case a reversal takes place and the GBP/USD pair breaks through the resistance level of 1.4123, then a stop loss should be placed at 1.4160.

Read more: https://www.instaforex.com/forex_analysis/110006

The dollar was unlucky again

Data on producer prices unexpectedly turned out to be quite good, as their growth rates accelerated from 2.6% to 2.7%. However, the dollar did not help. Strongly disappointed with data on applications for benefits. Not only that the number of initial applications increased from 223, 000 to 230,000 , so the number of continuing applications increased from 1,927,000 to 1,942,000. But the growth rate of industrial production accelerated from 3.4% to 3.7%. But concerns about the overheating of the labor market prevailed, which did not allow the dollar to strengthen. Today there are data on retail sales in the UK, the growth rate of which should increase from 1.4% to 2.6%, which is a clear positive factor against the background of slowing inflation. At the same time, in the U.S., it is forecasted an increase in the number of construction project starts from 1,192,000 to 1,234, 000, while a reduction in the number of issued construction permits from 1,302, 000 to 1,300, 000. Given the strong oversold dollar, it is expected to strengthen against the backdrop of growth number of construction sites. The euro/dollar pair has all opportunities to decline to 1.2450.

https://forex-images.ifxdb.com/userfiles/20180216/analytics5a867e95db686.jpg

It is expected to reduce the pair pound / dollar to 1.4075.

https://forex-images.ifxdb.com/userfiles/20180216/analytics5a867e9c1b928.jpg

Read more: https://www.instaforex.com/forex_analysis/199887

The dollar has good reasons to turn up

As a result of Wednesday, the US dollar collapsed against all major currencies. What's very strange is this happened against the background of positive data on consumer inflation in the US which showed growth in monthly terms while annual values showed a continued growth rate. According to the data presented, consumer inflation in annual terms remained at the same level of 2.1%. The forecast predicted it to fall to 1.9%. On a monthly basis, the index rose sharply by 0.5% against expectations of an increase of 0.3% and a revised upward of December's 0.2%. The figures of the basic consumer price index (CPI) were also pleasing. The annual value of the indicator remained at the previous level of 1.8%.

It was assumed that it would drop to 1.7%. Last month, the base index added 0.3% while it was expected to increase by 0.2% as in December following the revision. First, the dollar reacted to these positive figures with a noticeable increase in relation to all major currencies but then everything changed. It was actively sold against major currencies which in turn, supported prices for commodity and raw materials. Against this background, the share market in the United States has grown. And the traders clearly ignored the strong growth in yields of government bonds of the US Treasury.

The yield on the two-year notes added more than 2% on the day's results, indicating a strong increase in expectations for growth rates in March. Futures on federal funds jumped to around 83.1%, indicating that interest rates will be raised by 0.25% at the March meeting. In general, everything that happened in the US stock market that hit at the dollar rate, can be characterized as preparation for probable global sales.

This will only intensify because of the nearest meeting of the Fed. Ultimately, the increase in yields of government bonds will have an impact on the stock market and it will begin to fall. An important signal to this is a sharp increase in the yield on Wednesday of 10-year Treasuries which grew above the 2.9% mark. In the end, we continue to expect the dollar to turn up towards the Fed meeting next month.

Forecast of the day:

The EURUSD pair rose on the wave of a local weakening of the dollar. It is likely that against the backdrop of rising volatility and a prospective rate hike in the US, the pair will fall to 1.2345 if it overcomes the 1.2445 mark.

The GBPUSD pair also has a potential to decline to 1.3835 if it falls below the level of 1.3990.

https://forex-images.ifxdb.com/userfiles/20180215/analytics5a85216a073f5.png

https://forex-images.ifxdb.com/userfiles/20180215/analytics5a852188dfaa3.png

Read more: https://www.instaforex.com/forex_analysis/199790

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Daily analysis of GBP/USD for February 14, 2018

GBP/USD continues to recover above the lows of February 9, and it's looking to test the 200 SMA at H1 chart. Around that zone, we're expecting a pullback to take place in order to test the support zone of 1.3753. That level should give up to allow more losses toward the 1.3604 level. MACD indicator remains in the neutral territory, calling for a sideways consolidation.
https://forex-images.ifxdb.com/userfiles/20180214/GBPUSDH1.png
H1 chart's resistance levels: 1.3939 / 1.4078

H1 chart's support levels: 1.3753 / 1.3604

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.3753, take profit is at 1.3604, and stop loss is at 1.3903.

Read more: https://www.instaforex.com/forex_analysis/109698

Fundamental Analysis of GBP/USD for February 13, 2018

GBP/USD has recently broken the support area of 1.3850-1.3950 which has turned as a resistance area now. The market flow has been quite slow and corrective after breaking below the support and is expected to proceed lower in the coming days. GBP having unchanged after Official Bank Rates and Hawkish Bank of England statement failed to gain the momentum it needed to counter against the impulsive bearish move in the pair recently. Today, GBP CPI report is going to be published which is expected to decrease to 2.9% from the previous value of 3.0%, PPI Input is expected to increase to 0.7% from the previous value of 0.1%, RPI report is expected to show an unchanged value of 4.1%, Core CPI is expected to increase to 2.6% from the previous value of 2.5%, HPI report is expected to decrease to 4.9% from the previous value of 5.1%, and PPI Output is also expected to decrease to 0.2% from the previous value of 0.4%. The economic reports are expected to have mixed outcome which is expected to lead to further correction and volatility in the market ahead of the high influencing economic reports of USD to be published this week. On the other hand, today, USD NFIB Small Business Index report is going to be published which is expected to increase to 106.2 from the previous figure of 104.9, and FOMC Member Mester is going to speak about the monetary policies and the upcoming interest rate decision which is more likely to have an increase on March 2018. As of the current scenario, USD is expected to be the dominant currency in the pair having GBP struggling with the mixed economic reports and market sentiment not favoring the GBP gains despite having positive economic reports and events recently. Now let us look at the technical view. The price is currently residing at the edge of the 1.3850-1.3950 resistance area from where the price is expected to proceed lower towards the 1.36 support area. The price is being held by the dynamic level of 20 EMA as well which also increased the probability of the upcoming bearish pressure in the pair. As the price remains below the 1.3850-1.3950 resistance area, the bearish bias is expected to continue further.

https://forex-images.ifxdb.com/userfiles/20180213/analytics5a82863a56e5b.png

Read more: https://www.instaforex.com/forex_analysis/109607

Bitcoin analysis for 12/02/2018

French and German finance ministers are still demanding strict regulation of Bitcoin and other cryptocurrencies. According to reports, the French Finance Minister Bruno Le Maire and the Interim German Finance Minister Peter Altmaier wrote a letter to fellow finance ministers of the G20, in which they argue that cryptocurrencies are not only risky for investors but also threaten the long-term global financial stability. "Given the rapid increase in the capitalization of tokens and the emergence of new financial instruments, these changes should be closely monitored (...) Such variable tokens may have detrimental consequences for uninformed investors who do not understand the risks they are exposed to." - they write. Of course, this sentiment can be easily interpreted as coming from authorities of traditional financial institutions, experiencing increasing pressure from the rapidly growing, and the increasingly popular cryptocurrency market, which aims to disrupt traditional financial structures. The Finance Minister Bruno Le Maire and the Interim German Finance Minister Peter Altmaier are not the only ones who are concerned about Bitcoin and other cryptocurrencies. The member of the Board of the European Central Bank Yves Mersch expressed his negative opinion on Thursday, stating that cryptocurrencies are not money, nor will they be in the foreseeable future. In addition, the head of the Agency for International Settlements Agustin Carstens expressed his deep-rooted concerns by asking the central banks to close Bitcoin, claiming that cryptocurrencies are becoming a threat to financial stability. Let's now take a look at the Bitcoin technical picture at the H4 time frame. The bounce from the level of $5,830 was in three waves only, so the overall strength of the market might not be not that much visible, and the current wave progression is still in favor of another corrective wave to the upside. The key technical resistance is still the zone at the level of $9.146 - $9,515.

https://forex-images.ifxdb.com/userfiles/20180212/analytics5a81569f78c6f.jpg

GBP/USD testing major resistance, remain bearish
The price has shot up to test our selling area before reversing nicely once more. We remain bearish looking to sell on strength below major resistance at 1.3991 (Fibonacci retracement, horizontal pullback resistance, double top breakout level) for a strong push down to at least 1.3639 support (Fibonacci extension, double top exit potential, horizontal pullback support). RSI (34) has made a bearish exit from its long-term ascending support-turn-resistance line signaling that we should be seeing a change in momentum to bearish on GBPUSD. Sell below 1.3991. Stop loss at 1.4166. Take profit at 1.3639.

https://forex-images.ifxdb.com/userfiles/20180209/analytics5a7cfbf9535b5.png

Read more: https://www.instaforex.com/forex_analysis/109387

Fundamental Analysis of USD/CAD for February 8, 2018

USDCAD has been quite impulsive with the bullish gains recently which is expected to continue further in the coming days. USD has been the dominant currency since the recent Employment Change report was published with the significant increase which had a positive impact on the currency to gain against CAD. Ahead of the Employment Change report of CAD which is expected to decrease to 10.3k from the previous figure of 78.6k and Unemployment Rate increasing to 5.8% from the previous value of 5.7%, CAD is expected to lose more grounds against USD in the coming days. Today CAD Housing Starts report is going to be published which is expected to decrease to 211k from the previous figure of 218k, NHPI report is expected to be unchanged at 0.1% and Government Council Member Wilkins is going to speak about upcoming interest rate decision and monetary policies which are expected to inject volatility into the market before today's daily close. On the USD side, today Unemployment Claims report is going to be published which is expected to increase to 232k from the previous figure of 230k and Mortgage Delinquencies, which is the late payment value of the previous quarter for the mortgage, is expected to decrease from the previous value of 4.88%. As of the current scenario, CAD is expected to have worse economic report results in the coming days which is expected to add more to the USD gains. As USD has been in a great momentum after the recent Employment Change report, whereas worse result on the CAD Employment Change is expected to lead to more impulsive gain on USD side in the future.

Now let us look at the technical view. The price has bounced higher above 1.24 recently after the positive Employment Change report of USD which was also notified in the chart as Regular Bullish Divergence. The price is currently heading towards 1.2620 from where if it is broken with a daily close, further target towards 1.29 is expected in the coming days. As the price remains above 1.24 with a daily close, the bullish bias is expected to continue further.

https://forex-images.ifxdb.com/userfiles/20180208/analytics5a7beef9d3a49.png

Read more: https://www.instaforex.com/forex_analysis/109310

Technical analysis of USD/JPY for Feb 07, 2018

https://forex-images.ifxdb.com/userfiles/20180207/USDJPY.jpg

In Asia, Japan will release the Leading Indicators and Average Cash Earnings y/y data, and the US will release some Economic Data such as Consumer Credit m/m, 10-y Bond Auction, and Crude Oil Inventories. So, there is a probability the USD/JPY will move with a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 109.98.

Resistance. 2: 109.77.

Resistance. 1: 109.55.

Support. 1: 109.28.

Support. 2: 109.07.

Support. 3: 108.85.

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/109172

Elliott wave analysis of EUR/JPY for February 6, 2018


https://forex-images.ifxdb.com/userfiles/20180206/analytics5a793fe042862.png

Wave summary:

The strong decline from 137.50 confirms that the wave (D) finally has peaked and the wave (E) lower towards the ideal target at 123.43 now is developing. In the short-term, we will be looking for a corrective rally to 135.31 and likely even closer to 135.73 before the next strong decline towards 131.24 starts.

R3: 135.73

R2: 135.31

R1: 134.80

Pivot: 134.20

S1: 133.96

S2: 133.62

S3: 133.01

Trading recommendation: We sold EUR at 137.30. We will book half profit here at 134.70 for a nice quick profit 260 pips. We will sell EUR again at 135.60 and place our stop at 137.00 for the rest of our position.

Read more: https://www.instaforex.com/forex_analysis/109076

Technical analysis of GBP/JPY for February 5, 2018

https://forex-images.ifxdb.com/userfiles/20180205/GBPJPYM30.png

GBP/JPY is under pressure. The pair retreated from 156.60 and broke below its 20-period and 50-period moving averages. In addition, the 20-period moving average is turning down. The relative strength index is capped by a declining trend line since February 2. Therefore, below 156, look for a further decline with targets at 156.650 and 157 in extension. Alternatively, if the price moves in the direction opposite to the forecast, a Long position is recommended to be above 156.00 with the target at 156.60.
Strategy: SELL, Stop loss at 156.00, Take profit at 154.60
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot point, it indicates short positions. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 156.60, 157.00, and 157.45
Support levels: 154.60, 154.10, and 153.70.

Read more: https://www.instaforex.com/forex_analysis/108983

Technical analysis of GBP/JPY for February 2, 2018

https://forex-images.ifxdb.com/userfiles/20180202/GBPJPYM30.png

Our first upside target which we predicted in yesterday's analysis has been hit. GBP/JPY is expected to trade with a bullish outlook. The pair is clearly in an up-trend, backed by its rising trend line. A strong support base has formed around 136.00, which should limit any downside room. Besides, the relative strength index is bullish, and calls for a new rise. To conclude, as long as 155.70 holds on the downside, look for a new bounce to 157.00 and 157.70 in extension. Alternatively, if the price moves in the direction opposite to the forecast, a Short position is recommended to be below 155.70 with the target at 155.20. Strategy: BUY, Stop loss at 155.70, Take profit at 157.00 Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot point, it indicates short positions. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades. Resistance levels: 157.00, 157.70, and 158.15 Support levels: 155.20, 154.60, and 154.00.

Read more: https://www.instaforex.com/forex_analysis/108858

Technical analysis of EUR/USD for Feb 01, 2018

https://forex-images.ifxdb.com/userfiles/20180201/EURUSD.jpg

When the European market opens, some Economic Data will be released such as French 10-y Bond Auction, Spanish 10-y Bond Auction, Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. The US will release the Economic Data too, such as Total Vehicle Sales, Natural Gas Storage, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Unemployment Claims, Prelim Unit Labor Costs q/q, Prelim Nonfarm Productivity q/q, and Challenger Job Cuts y/y, so, amid the reports, EUR/USD will move in a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.2480.

Strong Resistance:1.2473.

Original Resistance: 1.2461.

Inner Sell Area: 1.2449.

Target Inner Area: 1.2420.

Inner Buy Area: 1.2391.

Original Support: 1.2379.

Strong Support: 1.2367.

Breakout SELL Level: 1.2360.

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/108741

Technical analysis of GBP/JPY for January 31, 2018

https://forex-images.ifxdb.com/userfiles/20180131/GBPJPYM30.png

Our first upside target which we predicted in yesterday's analysis has been hit. The pair turned bearish as the prices broke below the rising trend line. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index is calling for a drop. Therefore, below 154.45, look for a new decline with targets at 153.20 and 152.80 in extension Alternatively, if the price moves in the direction opposite to the forecast, a LONG position is recommended above 154.45 with the target at 155. Strategy: SELL, Stop loss at 154.45, Take profit at 153.20 Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot point, it indicates short positions. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades. Resistance levels: 155.00, 155.85, and 156.35 Support levels: 153.20, 152.80, and 152.40.

Read more: https://www.instaforex.com/forex_analysis/108691

GBP/USD analysis for January 30, 2018

https://forex-images.ifxdb.com/userfiles/20180130/analytics5a70479f922e8.png

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3979. Anyway, according to the 30M time – frame, I found a bullish breakout of the supply trendline (resistance), which is a sign that buyers are in control. I also found a hidden bullish divergence on the moving average oscillator and a fake breakout of yesterday's low, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.4092 and at the price of 1.4150.

Resistance levels:

R1: 1.4148

R2: 1.4220

R3: 1.4280

Support levels:

S1: 1.4015

S2: 1.3950

S3: 1.3880

Trading recommendations for today: watch for potential buying opportunities.

Read more: https://www.instaforex.com/forex_analysis/108590

Technical analysis of NZD/USD for January 29, 2018

https://forex-images.ifxdb.com/userfiles/20180129/1517209261_NZDUSDM30.png

NZD/USD is expected to trade with bullish bias above 0.7290. The pair remains in an uptrend and is now trading above its 20-period and 50-period moving averages. A strong support base at 0.7290 has formed and has allowed for a temporary stabilization. Last but not least, the relative strength index is bullish above its neutrality area at 50. In which case, as long as 0.7290 is not broken, likely advance to 0.7375 and 0.7400 in extension. The black line shows the pivot point. Currently, the price is above the pivot point, which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines are showing the support levels, while the green line is indicating the resistance levels. These levels can be used to enter and exit trades. Resistance levels: 0.7375, 0.7400, and 0.7450. Support levels: 0.7265, 0.7245, and 0.7240.

Read more: https://www.instaforex.com/forex_analysis/108434

[color=black]Technical analysis of GBP/JPY for January 26, 2018 [/color]

https://forex-images.ifxdb.com/userfiles/20180126/GBPJPYM30.png

We will retain our upside target prediction today as well. The pair is reversing up, and is now above its 20-period and 50-period moving averages. A strong support base has formed around 135.40, and should limit any downside room. In addition, the relative strength index is bullish above its neutrality area at 50, calling for a new bounce. Hence, above 154.80, look for a new rise to 155.60 and 156.10 in extension. Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 154.80 with the target at 154.40 Strategy: BUY, stop loss at 154.80, take profit at 155.60 Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot point, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades. Resistance levels: 155.50, 156.10, and 156.50. Support levels: 154.40, 154.10, and 153.70

Read more: https://www.instaforex.com/forex_analysis/108325

NZD/USD approaching major support, prepare to buy

Price is approaching major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long term ascending support) and a bounce could occur at this level to push price up to at least 0.7436 resistance (major swing high resistance, Fibonacci extension). RSI (34) sees a long term ascending support line, which since November 2017 has been holding up our bullish momentum really well. Buy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436.

https://forex-images.ifxdb.com/userfiles/20180125/analytics5a695e52d62f8.png

USD/CHF right on major support, prepare for a bounce

The price is now testing major support at 0.9569 (Fibonacci extension, horizontal swing low support) and we expect a bounce above this level to push the price up to at least 0.9699 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (21,5,3) is seeing major support above 3.7% where a corresponding bounce could occur. Buy above 0.9569. Stop loss at 0.9501. Take profit at 0.9699.

https://forex-images.ifxdb.com/userfiles/20180124/analytics5a680ce7c8b41.png

Read more: https://www.instaforex.com/forex_analysis/108095

Daily analysis of Gold for January 23, 2018

https://forex-images.ifxdb.com/userfiles/20180123/GOLDH4.png

Overview Gold price begins today's trading with a calm bullish bias after retesting the previously breached resistance of the bullish flag pattern. This price action supports our bullish outlook for the short term. We believe that the way is open to visit 1,357.50 that represents our next main target. Therefore, we are waiting for more rise today. Please note that breaching the mentioned level will extend price gains to reach 1,375.00 followed by 1,404.00, while holding above 1,321.40 represents the key condition to achieve the expected targets. The expected trading range for today is between 1,325.00 support and 1,350.00 resistance.

Read more: https://www.instaforex.com/forex_analysis/108056

[color=teal]Technical analysis of GBP/JPY for January 22, 2018 [/color]

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GBP/JPY is expected to trade with a bullish outlook. The pair bounced off its horizontal level at 153.10, which acts as a strong support role, and should limit any downside room. In addition, the relative strength index has broken above its neutrality area at 50 and is mixed to bullish now. Therefore, as long as 153.10 holds on the downside, likely advance to 154.25 and 154.60 in extension. Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 153.10 with the target at 152.50 Strategy: BUY, stop loss at 153.10, take profit at 154.25 Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot point, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades. Resistance levels: 154.25, 154.60, and 155.00. Support levels: 152.50, 152.00, and 151.45

Read more: https://www.instaforex.com/forex_analysis/107901

AUD/JPY testing major resistance, prepare for a drop

The price is testing major resistance at 88.98 (Fibonacci extension, horizontal swing high resistance, bearish harmonic formation) and we expect to see a strong reaction off this level to push the price down towards 88.41 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 96% where further bearish momentum is expected. Sell below 88.98. Stop loss at 89.22. Take profit at 88.41.

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Read more: https://www.instaforex.com/forex_analysis/107791

Five winners of InstaForex contests revealed

The results of five latest InstaForex competitions are summed up and we are ready to announce the winners of the One Million Option, Lucky Trader, InstaForex Sniper, Real Scalping, and FX-1 Rally contests. InstaForex congratulates the victors on outstanding results and wishes other contestants to find their names in future digests.

FX-1 Rally

Dmitriy Nazimov showed remarkable trading and racing skills notching up the best result. We congratulate him on an amazing victory and wish him to keep winning. If you long for captivating competition and breathtaking experience, participate in the upcoming step of the FX-1 rally contest! It will be held from 00:00 January 19, 2018 to 23:59 January 19, 2018.

One Million Option

One Million Option is one of the most popular InstaForex contests. Every step gathers hundreds of participants who fight for the title of the best options trader. The best performance was displayed by Vladimir Krivenko.

The next stage is to start pretty soon, on January 22, 2018 and will run till January 26, 2018.

Lucky Trader

Confidence, prudence, and concentration on success are the key to the victory in the two-week Lucky Trader marathon. If you manage to trade perfectly for two weeks, you will be able to win this contest, just like Ilya Nikolaevich Prokopets did it. The next stage of the Lucky Trader contest will be kick off on January 22, 2018 and come to an end on February 2, 2018.

InstaForex Sniper

The fastest and most accurate traders, who know precisely when to close a deal, compete in the InstaForex Sniper contest. Babalau Ruslan from Romania turned out to be the winner of the recent step. The next stage of the InstaForex Sniper contest will be carried out from January 15, 2018 to January 19, 2018.

Real Scalping

Short-term trading is rather difficult and meticulous and requires close attention. Not everyone is attentive, focused, and fast enough to succeed in the Real Scalping contest. This time, Aloise Boamin displayed all these features and took the first place. 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 of which will begin on February 5, 2018 and finish on February 23, 2018.

USD/JPY analysis for January 12, 2018

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Recently, the USD/JPY pair has been trading downwards. As I expected, the price tested the level of 110.97. According to the 30M time – frame, I found a broken bearish pennant, which is a sign that sellers are in control. Another sign of weakness is the breakout of yesterday's low at the prrice of 111.04. My advice is to watch for potential selling opportunities. The downward target is set at the price of 110.60.

Resistance levels:

R1: 111.75

R2: 112.25

R3: 112.60

Support levels:

S1: 110.90

S2: 110.55 S3: 110.05

Trading recommendations for today: watch for potential selling opportunities.

Read more: https://www.instaforex.com/forex_analysis/107308

Winners of Miss Insta Asia 2017 awarded

In Moscow winners of the 8th season of the international pageant were honored at the grand ceremony which was sparkling with festive air ahead of the New Year.

All five winners arrived at the capital city of Russia to manifest their beauty and celebrate their triumph. Yulia Grebennik was declared the beauty queen of Miss Insta Asia 2017 and was presented with a great prize - $20,000 on her trading account. Interestingly, none of the winners has had trading experience on Forex. However, the girls expressed the intention to learn trading with InstaForex. Indeed, the girls have been already provided with the solid start-up capital. Let's wish them good luck! Perhaps, after a while these girls will be memorable not only as the most beautiful participants of Miss Insta Asia 2017, but they will be well-known as successful traders.

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Third season of partnership with Dragon Racing kicks off!

InstaForex is glad to announce that we have been the official partner of Dragon Racing for the third year in a row, starting from the very beginning of the Formula E auto racing.
Any contract with a sports team should reflect the philosophy and principles of the company. And it was hard to find a squad more suitable for our purposes than the Dragon Racing Formula E team. It is known that several countries, from Norway to China, plan to completely ban autos with internal combustion engines. It means that new technologies and progress will be oriented towards Formula E. InstaForex considers the ecological aspect to be very important and when we talk about Formula E, we stress the importance of both technological novelties (such as electric engines) and their influence on the environment. It is the ecological aspect that allows Formula E to take place in the center of the world's largest cities unlike Formula 1 that is held in suburban areas. Formula E strives to be close to its fans just like InstaForex tries to be close to its clients.

InstaForex is sure that Dragon Racing with its energetic leader (young media entrepreneur Jay Penske) and talented drivers (Jerome d'Ambrosio and Neel Jani) will remain the engine of Formula E development and believes that the team will show excellent performance in the new season.

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