₦airaland Forum

Technical analysis of USD/JPY for May 12, 2015

In Asia, Japan will release Leading Indicators and 10-y Bond Auction. The US is expected to release economic data on Federal Budget Balance, JOLTS Job Openings, and NFIB Small Business Index. So, there is a strong probability that USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.73.

Resistance. 2: 120.49.

Resistance. 1: 120.26.

Support. 1: 119.97.

Support. 2: 119.74.

Support. 3: 119.50.

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/60378/

Technical analysis of EUR/USD for May 08, 2015

When the European market opens, economic data on Italian Industrial Production m/m, German Trade Balance, and German Industrial Production m/m are due for release.The US is expected to publish data on Wholesale Inventories m/m, Average Hourly Earnings m/m, Unemployment Rate, and Non-Farm Employment Changes. So amid the reports, EUR/USD will move medium to high volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1297.

Strong Resistance:1.1291.

Original Resistance: 1.1280.

Inner Sell Area: 1.1269.

Target Inner Area: 1.1243.

Inner Buy Area: 1.1217.

Original Support: 1.1206.

Strong Support: 1.1195.

Breakout SELL Level: 1.1189.

Read more: https://www.instaforex.com/forex_analysis/60278/

Technical analysis of USD/JPY for May 07, 2015


Fundamental outlook:

USD/JPY is expected to trade in a lower range. It is undermined by the negative USD sentiment (ICE spot dollar index last 94.14 versus 95.10 early Wednesday) after fewer-than-expected 169,000 increase in ADP U.S. April private sector jobs (versus forecast +205,000), bigger-than-expected 1.9% drop in U.S. 1Q preliminary productivity (versus forecast -1.8%). USD/JPY is also weighed by Japan's export sales and flows to haven JPY amid increased risk aversion (VIX fear gauge rose 5.87% to 15.15, S&P 500 closed 0.45% lower at 2,080.15 overnight) after the weak U.S. ADP jobs data. Besides, the pair's dynamic is affected by comments from Federal Reserve Chairwoman Janet Yellen that equity valuations are "generally quite high," and caution ahead of the U.S. April nonfarm payrolls report Friday. But the USD sentiment is soothed by the larger-than-expected 5.0% increase in U.S. 1Q unit labor costs (versus forecast +4.3%). USD/JPY losses are also tempered by higher U.S. Treasury yields (10-year at 2.252% versus 2.176% late Tuesday), demand from Japan's importers, and ultra-loose Bank of Japan's monetary policy.

Technical comment:

The daily chart is mixed as MACD is bullish, but stochastics is in a bearish mode.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 119.20. A break of that target will move the pair further downwards to 118.75. The pivot point stands at 120.05. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 120.50 and the second target at 120.80.

Resistance levels:

120.50

120.80

121.45

Support levels:

119.20

118.75

118.30

Read more: https://www.instaforex.com/forex_analysis/60232/

Technical analysis of NZD/USD for May 06, 2015


Fundamental overview:

NZD/USD is expected to trade in a lower range. It is undermined by higher-than-expected New Zealand 1Q unemployment rate of 5.8% (versus forecast 5.5%) and 3.5% drop in Fonterra's GDT Price Index and a 1.8% fall in an average price for whole milk powder to $2,386/mt at the latest Global Dairy Trade auction, increased risk aversion, and Kiwi sales on buoyant AUD/NZD cross. But NZD/USD losses are tempered by the weaker USD sentiment and NZD-USD interest differential.

Technical comment:

The daily chart is negative-biased as MACD and stochastics are bearish, five-day moving average is below 15-day moving average and is declining.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.7435. A break of that target will move the pair further downwards to 0.7410. The pivot point stands at 0.7580. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.7635 and the second target at 0.7665.

Resistance Levels:

0.7635

0.7665

0.77

Support levels:

0.7435

0.7410

0.7365

Read more: https://www.instaforex.com/forex_analysis/60174/

Technical analysis of USD/JPY for May 04, 2015

In Asia, Japan will not release any economic data. However, the US will release some macroeconomic reports such as Loan Officer Survey and Factory Orders m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.74.

Resistance. 2: 120.51.

Resistance. 1: 120.27.

Support. 1: 119.99.

Support. 2: 119.76.

Support. 3: 119.51.

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/60061/

Technical analysis of EUR/JPY for April 30, 2015

Technical outlook and chart setups:

The EUR/JPY cleared the resistance at 131.50 yesterday as we can see on the 4-hour chart view. We recommend to buy on dips from here on. The area of interest to initiate long positions is seen around 128.00/129.00. Also note that fibonacci 0.618 support and the resistance turned support trend-line is also converging around the same region. It is recommended to initiate long positions around 128.00/129.00 on a bullish bounce. Immediate support is seen at 130.30 followed by 128.00 and lower while resistance is seen at 134.00 and higher respectively.

Trading recommendations:

Flat for now. Looking to buy lower.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/59950/

More opportunities for easy trading with InstaForex

The company's experts have upgraded the InstaForex Toolbar{https://www.instaforex.com/instaforex_toolbar.php} to provide you with the opportunity of even quicker access to the sections of the InstaForex official website, the company's news feed and the InstaForex pages on the social networking websites. Besides, we added the online monitoring tool for currency exchange rates. The extension is available for Google Chrome, Opera, and Yandex Browser.

This toolbar is designed to help you get immediate access to the most popular sections on the InstaForex official website to search the information you need easier and faster.

Technical analysis of GBP/CHF for April 29, 2015

Technical outlook and chart setups:

The GBP/CHF pair is trading around 1.4673 at the moment, around the fibonacci 50% resistance as depicted here. The pair could be pushed higher towards 1.4780/1.4800 levels which are the fibonacci 0.618. It is recommended to book partial profits from long positions taken yesterday and also move stop to break even levels so that there is no risk. Immediate support is seen at 1.4500 followed by 1.4200, 1.4100, and lower, while resistance is seen at 1.4800/30, followed by 1.4900 and higher respectively.

Trading recommendations:

Book partial profits in long positions taken yesterday. Bring stop to break even levels, target 1.4800.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/59888/

Results of II FX Congress in Moscow

InstaForex served as the official sponsor of II FX Congress which was held on April 23, 2015 in Moscow.

Representatives of the Bank of Russia, the State Duma of the Russian Federation, professional organizations, the most active Forex companies, marketing agencies, and technology providers took part in the event.

Burning issues of the forex industry were considered at the Congress. Special attention was paid to the regulation of Russia's currency market and work of local companies which provide brokerage services after the law on the forex market came into force in December 2014.

This event has undoubtedly become a constructive platform for sharing experience and opinions. The results of the discussions will have a considerable impact on the forex market development in the Russian

Federation.

Elliott wave analysis of EUR/JPY for April 28 - 2015

Technical summary:

We keep looking for support near 128.75 to protect the downside for a break above the minor top at 130.20 and more importantly the base channel resistance-line, which should add acceleration to red wave iii for a rally towards 131.90. A break below 128.75 will be of concern, but only a break below the support at 127.83 will invalidate the bullish count and leave an impression of a corrective rally from a low of 126.02.

Trading recommendation:

We are long EUR from 128.85 and will our stop higher to 128.55. If you are not long EUR yet, then buy near 128.75 or upon a break above 130.20 with the same stop at 128.55.

Read more: https://www.instaforex.com/forex_analysis/59812/

Technical analysis of Gold for April 27, 2015

Technical outlook and chart setups:

Gold dropped lower to $1,175.00 on Friday before pulling back higher. The metal is seen to be trading around $1,182.00/83.00 for now. The hourly chart view has been depicted here, indicating interim support at $1,175.00 and lower, while resistance is seen at $1,198.00 followed by $1,204.00/08.00 and higher up respectively. If the metal drops below $1,175.00, it should test the levels of $1,171.00/73.00 at least, which is fibonacci 0.618 support of the rally between $1,140.00 and $1,224.00 respectively. A drop below $1,170.00 could prove to be extremely bearish though.

Trading recommendations:

Remain long, stop at $1,170.00, a target is open.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/59766/

Elliott wave analysis of EUR/NZD for April 21 - 2015


Technical summary:

we will be looking for a decline closer to 1.3867 and maybe even lower to 1.3687 as long as minor resistance at 1.4082 keeps protecting the upside. But a decline from 1.5821 is observed in five waves now and is well advanced, so a bottom could be found anytime soon. In the short term, we will focus on the downside as long as minor resistance at 1.4082 keeps protecting the upside. Any break above 1.4082 will shift our attention towards the upside for a strong rally towards 1.4569 as the first upside target.

Trading recommendation:

We are short EUR from 1.4145 and will move our stop+reverse lower to 1.4090.

Read more: https://www.instaforex.com/forex_analysis/59522/

Decision on interim InstaForex contests and campaigns announced!

The administration has reviewed all interim scores and decided the winners of traditional InstaForex contests. We are ready to announce the names of the victors in the following five contests and campaigns: One Million Option, InstaForex Sniper, Trade Wise, Win Device, FX-1 Rally, and Real Scalping.

InstaForex sincerely congratulates the winners on the brilliant results. We wish other participants not to give up and find their names in the next digest.

One Million Option
It is one of the most popular contests suggested by InstaForex. Every step gathers a large number of participants. They fiercely compete for the title of the best options trader. The latest step revealed that Alexander Myasnikov managed to display the best performance.
We remind you that the next stage of One Million Option (https://www.instaforex.com/contest_forex_option.php) is just around the corner. It will take place from April 20, 2015 (GMT+2) to April 24, 2015 (GMT+2).

InstaForex Sniper
Only the most quick-witted and accurate traders can meet the challenge of InstaForex Sniper. Every week, this contest attracts more and more traders who are eager to fight for the main prize. This time, Adorjan Stefan succeeded in tight competition. Please be aware that the nearest stage will begin on April 20, 2015 (GMT+2) and finish on April 24, 2015 (GMT+2). Test your trading skills and marksmanship in InstaForex Sniper (https://www.instaforex.com/ru/contest_forex_sniper.php)!

Trade Wise, Win Device
Summing up the results of the latest prize draw,Lo Mei Yong was the luckiest participant who was awarded the brand new Galaxy Tab.
If you want to get a new gadget from a famous manufacturer, you should register for the next step of the Trade Wise, Win Device campaign. It will be held from April 27, 2015 (GMT+2) to May 8, 2015 (GMT+2). The registration is available on the campaign's page (https://www.instaforex.com/contest_forex_device.php).

FX-1 Rally
The best performance of FX-1 Rally, the fastest InstaForex contest, was displayed by Vadim Matviyenko who demonstrated brilliant trading and racing skills. We congratulate the winner on the excellent outcome and wish him to secure the title of the best racer in later stages of FX-1 Rally. If you are not afraid of stiff competition and ready to feel the fighting spirit of our rally, then welcome to the starting line of the next step of the thrilling contest. You can register for the nearest rally (https://www.instaforex.com/contest_forex_rally.php) that will run from 00:00 on April 24, 2015 (GMT+2) to 23:59 on April 24, 2015 (GMT+2).

Real Scalping
Short-term trading is rather complicated as it requires hard work and great attention. A lot of traders are not careful enough, focused, and quick-witted to succeed in this type of trading. Exactly these features are needed to achieve great results in scalping. This time, Vilma Auryliene managed to show the necessary traits. No wonder she deserved the prize in the latest step of the Real Scalping contest. InstaForex is happy to welcome the winner. We invite everybody, who was not so lucky, to take part in the next step. If you want to test your skills in scalping, please visit the contest webpage (https://www.instaforex.com/contest_forex_scalping.php). The nearest stage of Real Scalping will be held from May 4, 2015 (GMT+2) to May 29, 2015 (GMT+2).

Learn more about contests (https://www.instaforex.com/forex_contests.php)
Photos and comments of the finalists (http://blog.instaforex.com/contest-winners/)

Technical analysis of Gold for April 20, 2015

Technical outlook and chart setups:

Gold is seen to be trading around the level of $1,204.00 at the moment and could be preparing to break higher. The metal seems to have a higher low around $1,182.00/83.00 already formed and bulls are likely to be poised to remain in control until prices stay above that level. It is recommended to remain long with risk at the level of $1,170.00 . Immediate support is seen at $1,183.00 (interim), followed by $1,178.00, $1,162.00, and lower while resistance is seen through $1,240.00/50.00 followed by $1,180.00 and higher respectively.

Trading recommendations:

Remain long, stop at $1,170.00, a target is open.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/59464/

Elliott wave analysis of EUR/NZD for April 17 - 2015

Technical Summary:
We have seen a new low at 1.3979 and wave five decline can be counted from 1.4547. So, we are getting closer to the bottom. However, as long as minor resistance at 1.4105 is protecting the upside, we will be looking for a move lower towards 1.3867 and maybe even lower to 1.3687 before the final low is in place. A break above 1.4105 is likely to be the first indication that a bottom could be in place.

Trading recommendation:

We are short EUR from 1.4145 and will move our stop+reverse of the EUR position lower to 1.4115. If our stop+reverse is hit at 1.4115 our new stop will be placed 5 pips below the bottom.

Read more: https://www.instaforex.com/forex_analysis/59410/

Elliott wave analysis of EUR/NZD for April 16 - 2015

Technical summary:

We are very close to make new lows for the year. A decline from 1.4206 is not very pretty and can be described as a series of waves one and two. In this case, we should expect a powerful decline soon, as a series of wave three needs to unfold. Only a break above 1.4148 will invalidate this outlook and indicate that the decline from 1.4206 was corrective and we should see a new rally to at least 1.4206 and even to 1.4237.

Trading recommendation:

We sold EUR at 1.4145 and moved our stop lower to 1.4155. If you are not short EUR yet, sell near 1.4105 with the same stop at 1.4155 and place take profit at 1.3920 in both cases.

Read more: https://www.instaforex.com/forex_analysis/59334/

Technical analysis of EUR/USD for April 15, 2015

When the European market opens, economic data about Minimum Bid Rate, ECB Press Conference, German 10-y Bond Auction, Trade Balance, French CPI m/m, and German Final CPI m/m are due for release.The US will publish economic data on the TIC Long-Term Purchases, Beige Book, Crude Oil Inventories, NAHB Housing Market Index, Industrial Production m/m, Capacity Utilization Rate, and Empire State Manufacturing Index. So, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0697.

Strong Resistance:1.0690.

Original Resistance: 1.0680.

Inner Sell Area: 1.0670.

Target Inner Area: 1.0645.

Inner Buy Area: 1.0620.

Original Support: 1.0610.

Strong Support: 1.0600.

Breakout SELL Level: 1.0593.

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/59274/

Technical analysis of USD/CHF for April 14, 2015

Fundamental overview:

USD/CHF is expected to consolidate with risks skewed lower after hitting a three-week high of 0.9863 on Monday. It is undermined by the franc demand on cross trades versus major currencies. But USD/CHF losses are tempered by the broadly firm dollar undertone, negative Swiss interest rates, and threat of the Swiss National Bank CHF-selling intervention.

Technical comment:

The daily chart is still positive-biased as the MACD and stochastics are bullish, although the latter is at overbought levels, five-day moving average above is 15-day moving average and is advancing.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 0.9720. A break of that target will move the pair further downwards to 0.9665. The pivot point stands at 0.9810. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.9870 and the second target at 0.9940.

Resistance levels:

0.9870

0.9940

0.9985

Support levels:

0.9720

0.9665

0.9595

Read more: https://www.instaforex.com/forex_analysis/59232/

Winners’ names of regular InstaForex contests released


The results of the recent steps of the InstaForex contests and campaigns have been summed up and the winners have been defined. We are ready to name the victors of six contests: One Million Option, Lucky Trader, InstaForex Sniper, Trade Wise, Win Device, FX-1 Rally, and InstaForex Great Race 2015. InstaForex congratulates the winners on great results and wishes other contestants to find their names in the next digests. Sooner or later, the luck will be on your side!


One Million Option
The One Million Option contest, one of the most popular in the InstaForex series, gathers hundreds of participants that fight hard to become the best options trader. According to the results of yet another step of the One Million Option contest, the best result was shown by Sergey Avdeev. The next stage of the [url]One Million Option[/url] {https://www.instaforex.com/contest_forex_option.php} contest will be held from April 13, 2015 (GMT +2) to April 17, 2015 (GMT +2).


InstaForex Sniper
The most accurate and fastest traders compete in the InstaForex Sniper contest. A lot of traders take part in a tough competition for the main prize of the contest. The latest step was won by Kasri Anouar. The next stage of the InstaForex Sniper contest will run from April 13, 2015 (GMT +2) to April 17, 2015 (GMT +2). Test your accuracy in the [url]InstaForex Sniper[/url]{https://www.instaforex.com/contest_forex_sniper.php}contest!


Trade Wise, Win Device
The results of the Trade Wise, Win Device campaign unveiled that trader Logachev Nick Mihaylovich became the winner and owner of a new i-Phone. Want to try your luck at another prize draw of a new branded gadget? The nearest step of the Trade Wise, Win Device campaign will show. It will kick off on April 13, 2015 (GMT +2) and end on April 24, 2015 (GMT +2). Please visit the campaign's web page for [url]registration. {https://www.instaforex.com/contest_forex_device.php} [/url]


Lucky Trader
Two weeks of perfect trading will provide you with the victory in the Lucky Trader contest. Pyotr Alekseev showed great trading skills and the best result among hundreds of other contestants. We sincerely congratulate the winner on the brilliant result and wish him to continue this winning tradition in the next stages of this contest. The nearest step of the [url]Lucky Trader[/url]
{https://www.instaforex.com/contest_forex_lucky.php} contest will take place from April 20, 2015 (GMT +2) to May 1, 2015 (GMT +2).


FX-1 Rally
Vladan Milikic is acknowledged to be the best performer in the fastest InstaForex contest. He demonstrated all his trading and racing skills. We congratulate the victor on the splendid result and wish him to remain the best during further stages of this competition. If you want to participate in an intense fight and feel the thrilling spirit of the rally, then welcome to another step of the FX-1 Rally contest! You can[url] register[/url] {https://www.instaforex.com/contest_forex_rally.php} for the next rally that will begin on April 10, 2015 at 00:00 (GMT+2) and end on April 10, 2015 at 23:59 (GMT+2).


InstaForex Great Race 2015
Ihab Alshaww scored the victory in the second step of the new season of the InstaForex Great Race 2015 contest. Once again, we congratulate the winner and other prize takers of the second stage of this yearly marathon. We wish good luck in the following stages to less successful traders. The third step is still underway, and the [url]fourth one[/url]
{https://www.instaforex.com/contest_forex_greatrace_2015.php} will start on June 15, 2015 and end on July 17, 2015.

Learn more about contests {https://www.instaforex.com/forex_contests.php}
Photos and comments of the finalists {http://blog.instaforex.com/?page_id=11650}

Technical analysis of Gold for April 13, 2015

Technical outlook and chart setups:

Gold is seen to be trading at the levels of $1,204.00/05.00 for now and is likely to be pushed higher towards $1,240.00/50 in the coming sessions. Immediate intermediary support is seen at $1,192.00 followed by $1,178.00, $1,162.00, and lower, while resistance is seen at $1,240.00/50.00 followed by $1,285.00, and higher respectively. It is recommended to remain long for now, with risk below $1,170.00. Bulls should be poised to push at higher levels untill prices stay above $1,170.00 from here on.

Trading recommendations:

Remain long for now, stop at $1,170.00, target is open. Good luck!

Read more: https://www.instaforex.com/forex_analysis/59166/

Elliott wave analysis of EUR/NZD for April 10 - 2015


Technical summary:

The break below 1.4128 invalidated the possibility of a new impulsive rally being in motion. We changed our short-term count, which calls for a final decline closer to 1.3867 now and even 1.3687 before a firm bottom could be in place. In the short term, we will look for resistance at 1.4130 and again at 1.4193, which we expect to protect the upside for the next part of the decline closer to 1.3867 and likely even lower to 1.3687.

Trading recommendation:

Sell EUR near 1.4193 with stop placed at 143.00 and place take profit at 1.3875.

Read more: https://www.instaforex.com/forex_analysis/59098/

Technical analysis of GBP/JPY for April 09, 2015


Fundamental overview:
GBP/JPY is expected to trade in a lower range. It is undermined by the weak EUR/USD undertone and Japan exporter sales. But GBP/JPY losses are tempered by improved investor risk appetite and demand from Japan importers. GBP/JPY is supported by M&A news (Petroleum giant Royal Dutch Shell PLC agreed to buy BG Group PLC for GBP47 billion), improved investor risk sentiment, and sterling demand on soft EUR/GBP cross .

Technical comment:
The daily chart is mixed as the MACD is bullish, but stochastics is turned bearish.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 177.05. A break of that target will move the pair further downwards to 176.75. The pivot point stands at 178.45. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 179.05 and the second target at 179.30.

Resistance levels:
179.05
179.30
179.75

Support levels:
177.05
176.75
176

Read more: https://www.instaforex.com/forex_analysis/59070/

Technical analysis of NZD/USD for April 08, 2015

Fundamental overview:

NZD/USD is expected to trade in a higher range. It is undermined by positive dollar sentiment (ICE spot dollar index last 97.91 versus 97.07 early Tuesday) as more-than-expected 5.133 million US job openings in February (versus forecast of 5.01 million), a rise in the US IBD/TIPP economic optimism index to 51.3 in April from 49.1 in March, and larger-than-expected $15.52 billion increase in the US February consumer credit (versus forecast +$12.0 billion) bolster belief that last Friday's weak US March non-farm payrolls report was an aberration and that the US economy will regain momentum after the first quarter, subdued investor risk appetite, weak dairy prices and kiwi sales on buoyant AUD/NZD cross. But NZD/USD losses are tempered by the NZD-USD interest differential.

Technical comment:

The daily chart is mixed as the MACD is turning bearish, but stochastics is neutral.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as far as it remains above its pivot point. As long as the price keeps above its pivot point, long positions are recommended with the first target at 0.7620 and the second target at 0.7665. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.7460. A break of this target would push the pair further downwards, and one may expect the second target at 0.7420. The pivot point is at 0.7510.

Resistance levels:

0.7620

0.7665

0.7695

Support levels:

0.7460

0.7420

0.7375

Read more: https://www.instaforex.com/forex_analysis/58994/

Technical analysis of USD/JPY for April 07, 2015

In Asia, Japan is not expected to release any economic data. However, the US will publish data about Consumer Credit m/m, IBD/TIPP Economic Optimism, and JOLTS Job Openings. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.18.

Resistance. 2: 119.94.

Resistance. 1: 119.71.

Support. 1: 119.42.

Support. 2: 119.19.

Support. 3: 118.95.

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/58920/

Some alterations to the trading hours at the CME, COMEX, NYMEX, and ICE exchanges will be made

Dear Clients,

Please be informed that on account of Good Friday observance in the USA on April 3, 2015, some alterations to the trading hours at the CME, COMEX, NYMEX, and ICE exchanges will be made. With much of the financial world on holiday for Good Friday, trading on the US futures and indices floors, as well as CFD and Metals spot will come to a standstill.

On Monday, April 6, the exchanges will open for regular trade, expect for the FTSE, N100, HSI, and DAX indices. Normal trading on HSI will be resumed on April 7.

For more: www.instaforex.com

​InstaForex announces suspension of cooperation with KROUFR

InstaForex announces suspension of cooperation with KROUFR.

Such a decision was due to fundamentally different views on the fulfillment of the Public Offer Agreement in the aspects not regulated by the existing legislation and therefore allowing different opinions. The suspension of KROUFR membership will give time to form a single position on the issue of fulfillment of all clauses of the Agreement that is considered by the Commission as the base of legal relationship regulation with clients in case a company becomes its member.

Currently, InstaForex still successfully cooperates with the Non-Governmental Civil Rights Organization Russian Financial Consumers Protection Union (FinPotrebSouz) what enables every client to send a claim to the company for consideration of FinPotrebSouz' experts and to settle the claim through their intermediary.

for more: www.instaforex.com

Technical analysis of GBP/CHF for April 01, 2015

Technical outlook and chart setups:

The GBP/CHF pair is seen to be stalled just above the level of 1.4400 as depicted on the 4H chart view. The pair could resume its downswing and target 1.4000 in the sessions to come. It is therefore recommended to take profits on long positions initiated earlier and remain flat for now. Immediate support is seen at 1.4200 (interim) followed by 1.4000, 1.3850, and lower, while resistance is seen at 1.4630 followed by 1.4800, 1.4950, and higher respectively. A bearish signal at the current levels would confirm that bears would resume the down swing.

Trading recommendations:

Book profits on long positions taken earlier.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/58706/

Technical analysis of USD/JPY for March 30, 2015

In Asia, Japan is expected to release the Prelim Industrial Production m/m. The US will release economic data on Pending Home Sales m/m, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 119.80.

Resistance. 2: 119.57.

Resistance. 1: 119.34.

Support. 1: 119.04.

Support. 2: 118.81.

Support. 3: 118.57.

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/58590/