Wave Analysis from InstaForex

Discussion in 'Stock Market Investing' started by InstaForex Gertrude, Mar 1, 2016.

  1. IFX Yvonne

    IFX Yvonne Member

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    Ichimoku indicator analysis of Gold for May 19, 2017

    Gold price as expected is pulling back from the important weekly resistance at $1,260. Bulls now we need to see a higher low relative to the May lows at $1,214. A corrective pullback that will not hurt the bullish scenario should hold above $1,234.

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    Gold price is trading above the 4-hour cloud. Trend is bullish. Gold price could bounce from current levels as price has found support at the 38% Fibonacci retracement of the rise from $1,214. Next important support is at $1,234 where the 61.8% and the cloud supports are found. Bulls should not lose that level. On the other hand bears stopped the rise right at the important resistance of $1,260. Now they need to break back below the cloud for the move towards $1,150-60 to start.

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    Red line -long-term resistance

    Gold remains inside the weekly Kumo (cloud). Weekly trend remains neutral. Price remains below the weekly trend line resistance. However the bounce off the lower cloud boundary was a bullish sign. Bulls however need to break above the weekly cloud at $1,280 for the bull trend to be confirmed.


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  2. IFX Yvonne

    IFX Yvonne Member

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    Ichimoku indicator analysis of gold for May 22, 2017

    Gold price is overbought in the short-term and justifies a pullback towards $1,240. It is important for Gold bulls to hold above $1,230 and create a new short-term base of a higher low in order to move above $1,280-$1,300 which is the long-term resistance.

    [​IMG]

    Gold price is trading above the Ichimoku cloud support. Price got rejected at the resistance of the 61.8% Fibonacci retracement. Short-term support is at $1,247 and next at $1,230. Price is expected to move lower before higher.

    [​IMG]

    Gold daily chart shows price above daily cloud but below the 61.8% Fibo level resistance. I expect a pullback and a higher low to be created over this week. As long as price is above $1,213 we target $1,230-40 and next $1,280-$1,300. If the $1,213 low is broken, expect a move towards $1,150-60.


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  3. IFX Yvonne

    IFX Yvonne Member

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    Technical analysis of USD/CHF for May 25, 2017

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    Overview:
    The USD/CHF pair. The first resistance level is seen at 0.9787 followed by 0.9847, while daily support 1 is seen at 0.9691. The USD/CHF pair broke support which turned to strong resistance at 0.9787. The market is still set to trade around the daily pivot point of 0.9739. This week, it continued to move downwards from the level of 0.9787 to the bottom around 0.9739. The pair is trading below this level. It is likely to trade in a lower range as long as it remains below the resistance of 0.9787 which is expected to act as major resistance. Amid the previous events, the USD/CHF pair is still moving between the levels of 0.9787 and 0.9691. For that reason, the major resistance can be found at 0.9787 providing a clear signal to sell with a target seen at 0.9691. If the trend breaks the minor support at 0.9691, the pair will move downwards continuing the bearish trend development to the level of 0.9645 and 0.9600 in order to test the daily support 3. Overall, we still prefer the bearish scenario which suggests that the pair will stay below the area of 0.9787 (resistance).


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  4. IFX Yvonne

    IFX Yvonne Member

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    Elliott wave analysis of EUR/JPY for May 26, 2017

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    Wave summary:
    We continue to look for a corrective decline into the 123.78 - 124.17 area before the next impulsive rally towards 134.30 and 138.52 should be expected. Short-term resistance is now seen at 125.16 and again at 125.43, Only a break above the later will indicate that the correction is complete and more upside towards 134.30 is developing.

    R3: 125.81
    R2: 125.43
    R1: 125.16
    Pivot: 125.00
    S1: 124.86
    S2: 124.17
    S3: 123.78

    Trading recommendation:

    We will re-buy EUR at 124.20 or upon a break above 125.43.


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  5. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of EUR/USD for May 29, 2017

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    When the European market opens, some Economic Data will be released, such as Private Loans y/y and M3 Money Supply y/y. Today, the US will not release any Economic Data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1226.
    Strong Resistance:1.1220.
    Original Resistance: 1.1209.
    Inner Sell Area: 1.1198.
    Target Inner Area: 1.1172.
    Inner Buy Area: 1.1147.
    Original Support: 1.1136.
    Strong Support: 1.1125.
    Breakout SELL Level: 1.1119.

    Analysis are provided byInstaForex.
  6. InstaForex Gertrude

    InstaForex Gertrude Member

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    Daily analysis of USDX for May 30, 2017

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    The index remained in sideways during the Memorial Day in the United States, capped by the 200 SMA at H1 chart. The bears are still strong across the greenback and we can expect some declines towards 96.90. However, if USDX manages to break above the 200 SMA, it's expected to see a rally that tests the resistance area of 98.11.

    H1 chart's resistance levels: 97.41 / 98.11
    H1 chart's support levels: 96.90 / 96.25

    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 96.90, take profit is at 96.25 and stop loss is at 97.56.

    Analysis are provided byInstaForex.
  7. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of EUR/USD for May 31, 2017

    When the European market opens, some Economic Data will be released, such as Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, German Unemployment Change, French Prelim CPI m/m, and German Retail Sales m/m. The US will release the Economic Data, too, such as Beige Book, Pending Home Sales m/m, and Chicago PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1225.
    Strong Resistance:1.1219.
    Original Resistance: 1.1208.
    Inner Sell Area: 1.1197.
    Target Inner Area: 1.1171.
    Inner Buy Area: 1.1145.
    Original Support: 1.1134.
    Strong Support: 1.1123.
    Breakout SELL Level: 1.1117.

    Analysis are provided by InstaForex
  8. InstaForex Gertrude

    InstaForex Gertrude Member

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    Daily analysis of USDX for June 01, 2017

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    The index is finding support around 96.00, as the bears continue to keep pressure the greenback in the short-term. Once it manages to break below the 96.90 level, then we might see some declines to take place towards 96.25. However, if USDX does a consolidation above the 200 SMA at H1 chart, it can look for the 98.11 level.

    H1 chart's resistance levels: 97.41 / 98.11
    H1 chart's support levels: 96.90 / 96.25

    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 96.90, take profit is at 96.25 and stop loss is at 97.56.

    Analysis are provided byInstaForex.
  9. InstaForex Gertrude

    InstaForex Gertrude Member

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    Fundamental Analysis of USD/CHF for June 2, 2017

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    USD/CHF has been recently in a corrective structure between 0.9700-0.9750 area. Recently CHF had negative economic reports like KOF Economic Barometer which was released with a worse figure at 101.6 which was expected to be at 106.2, GDP was released with a worse figure at 0.3% which was expected to rise to 0.5% from the previous figure of 0.2% and Retail Sales report was released with much worst figure at -1.2% which was expected to rise to 2.4% from previous 2.1%. Despite CHF having a good number of important economic events, the currency has managed to gain some strength over USD recently after the correction but failed to continue yesterday as of the positive USD ADP non-farm Employment Change report which showed a rise to 253k which was expected to rise to 181k from 174k previously. Today on the USD side, we have a number of high impact economic events like Average Hourly Earnings report is expected to show a fall to 0.2% from 0.3% previously, Unemployment Rate is expected to be unchanged at 4.4% and Non-Farm Employment Change is expected to decline to 181k from the previous figure of 211k. Though the Non-Farm Employment Change is expected to decline today as of ADP reports Non-Farm Employment Change has higher chances of release with a positive figure which will strengthen the growth of USD against CHF in the coming days.

    Now let us look at the technical view, the price has shown a false break downwards after breaking below corrective structure support level at 0.9700. Currently, the price is residing between the corrective structure and a daily close above 0.9750 and daily close below 0.9700 will only enclose the upcoming move in this pair. As of the positive reports on the USD side evolving recently, it is expected that the price has higher chances of breaking upward above 0.9750 level with an upper target towards 0.9960 resistance area but if the price rejects off the corrective structure resistance 0.9750 or breaks below 0.9700 with a daily close below it then we will be looking forward to selling with a target towards 0.9550 support area.

    Analysis are provided byInstaForex.
  10. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of EUR/USD for June 05, 2017

    [​IMG]

    When the European market opens, some Economic Data will be released, such as Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI. The US will release the Economic Data, too, such as Labor Market Conditions Index m/m, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Revised Unit Labor Costs q/q, and Revised Nonfarm Productivity q/q, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1333.
    Strong Resistance:1.1326.
    Original Resistance: 1.1315.
    Inner Sell Area: 1.1304.
    Target Inner Area: 1.1277.
    Inner Buy Area: 1.1250.
    Original Support: 1.1239.
    Strong Support: 1.1228.
    Breakout SELL Level: 1.1221.

    Analysis are provided byInstaForex.
  11. InstaForex Gertrude

    InstaForex Gertrude Member

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    Elliott wave analysis of EUR/JPY for June 6, 2017

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    Wave summary:
    The failure to rally has shifted the short-term count in favor of a triangle consolidation unfolding for wave B. If this is the case, then support seen at 123.11 should be able to protect the downside for a rally above resistance seen at 123.31 that confirms wave C is developing for a rally towards 134.54 as the ideal upside target.
    R3: 124.70
    R2: 124.43
    R1: 124.13
    Pivot: 123.80
    S1: 123.68
    S2: 123.53
    S3: 123.11

    Trading recommendation:
    Our stop at 124.10 was hit for a loss of 55 pips. We bought EUR again at 123.85 and will place our stop at 123.05.

    Analysis are provided byInstaForex.
  12. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of EUR/USD for June 07, 2017

    [​IMG]

    When the European market opens, some Economic Data will be released, such as Italian Retail Sales m/m and German Factory Orders m/m. The US will release the Economic Data, too, such as Consumer Credit m/m and Crude Oil Inventories, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1324.
    Strong Resistance:1.1318.
    Original Resistance: 1.1307.
    Inner Sell Area: 1.1296.
    Target Inner Area: 1.1270.
    Inner Buy Area: 1.1244.
    Original Support: 1.1233.
    Strong Support: 1.1222.
    Breakout SELL Level: 1.1216.

    Analysis are provided byInstaForex.
  13. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of EUR/USD for June 08, 2017

    [​IMG]

    When the European market opens, some Economic Data will be released, such as Minimum Bid Rate, Revised GDP q/q, French Trade Balance, and German Industrial Production m/m. The US will release the Economic Data, too, such as Natural Gas Storage, and Unemployment Claims, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1308.
    Strong Resistance:1.1302.
    Original Resistance: 1.1291.
    Inner Sell Area: 1.1280.
    Target Inner Area: 1.1254.
    Inner Buy Area: 1.1228.
    Original Support: 1.1217.
    Strong Support: 1.1206.
    Breakout SELL Level: 1.1200.

    Analysis are provided byInstaForex.
  14. InstaForex Gertrude

    InstaForex Gertrude Member

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    Elliott wave analysis of EUR/NZD for June 9, 2017

    [​IMG]

    Wave summary:

    Wave ii/ has extended it's decline to 1.5468, which should be more than enough to complete wave ii/ and set the stage for a rally higher in wave iii/ towards 1.6655.

    That said, we will need a break above minor resistance seen at 1.5720 to confirm that wave ii/ has completed and wave iii/ is developing.

    R3: 1.5720
    R2: 1.5667
    R1: 1.5594
    Pivot: 1.5525
    S1: 1.5462
    S2: 1.5391
    S3: 1.5342

    Trading recommendation:
    WE are long EUR from 1.5540 and will place our stop at 1.5340.

    Analysis are provided byInstaForex.
  15. IFX Yvonne

    IFX Yvonne Member

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    Elliott wave analysis of EUR/NZD for June 13, 2017

    [​IMG]

    Wave summary:

    We continue to look for confirmation that the corrective decline from 1.6237 has completed. The first strong indication will be a break above the resistance line seen at 1.5636, while a break above resistance at 1.5720 will add confidence in wave iii/ developing towards 1.6655.

    R3: 1.5931
    R2: 1.5720
    R1: 1.5636
    Pivot: 1.5600
    S1: 1.5491
    S2: 1.5439
    S3: 1.5369

    Trading recommendation:
    We are long EUR from 1.5540 with stop placed at 1.5340. If you are not long EUR yet, then buy a break above 1.5636 and use the same stop.

    Analysis are provided byInstaForex.
  16. InstaForex Gertrude

    InstaForex Gertrude Member

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    Elliott wave analysis of EUR/JPY for June 14, 2017

    [​IMG]

    Wave summary:
    Not really much to add here. The triangle consolidation remains the preferred outlook. We continue to look for wave d closer to 134.62 before the final dip lower in wave e to complete the triangle consolidation, setting the stage for renewed upside pressure towards 134.58 and likely even closer to 138.52.

    Only an unexpected break below 122.53 will shift to an alternate corrective structure.

    R3: 124.04
    R2: 123.73
    R1: 123.40
    Pivot: 123.20
    S1: 123.00
    S2: 122.77
    S3: 122.53

    Trading recommendation:
    We are neutral for now.

    Analysis are provided byInstaForex.
  17. InstaForex Gertrude

    InstaForex Gertrude Member

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    Technical analysis of USD/JPY for June 15, 2017

    [​IMG]

    In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data, such as TIC Long-Term Purchases, Natural Gas Storage, NAHB Housing Market Index, Industrial Production m/m, Capacity Utilization Rate, Philly Fed Manufacturing Index, Import Prices m/m, Empire State Manufacturing Index, and Unemployment Claims. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Resistance. 3: 110.14.
    Resistance. 2: 109.92.
    Resistance. 1: 109.71.
    Support. 1: 109.44.
    Support. 2: 109.23.
    Support. 3: 109.01.

    Analysis are provided byInstaForex.
  18. InstaForex Gertrude

    InstaForex Gertrude Member

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    Elliott wave analysis of EUR/NZD for June 16, 2017

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    Wave summary:

    Our preferred count remains that a low likely was seen with the test of 1.5370 and wave iii/ higher is ready to develop. That said, we need a break above the resistance line near 1.5532 to confirm that wave ii/ has completed and wave iii/ higher to above 1.6237 is developing. Until the break above the resistance-line near 1.5532 is seen, we must allow for a retest of the 1.5370 low and even a spike below, but that should be short lived.

    R3: 1.5564
    R2: 1.5517
    R1: 1.5480
    Pivot: 1.5460
    S1: 1.5453
    S2: 1.5424
    S3. 1.5370

    Trading recommendation:
    We are long EUR from 1.5540 with stop placed at 1.5340. If you are not long EUR yet, then buy a break above 1.5532 and use the same stop.

    Analysis are provided byInstaForex.
  19. InstaForex Gertrude

    InstaForex Gertrude Member

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    Elliott wave analysis of EUR/NZD for June 19, 2017

    [​IMG]

    Wave summary:
    The corrective decline in wave ii/ will not loosen its grip and it has now spiked below support at 1.5423, this opens for more downside pressure towards 1.5261 as long as the resistance line near 1.5500 and more importantly as long minor resistance at 1.5564 is able to cap the upside. However, a break above this resistance will indicate that wave ii/ has completed and wave iii/ towards 1.6655 is developing.

    R3: 1.5544
    R2: 1.5485
    R1: 1.5415
    Pivot: 1.5400
    S1: 1.5347
    S2: 1.5300
    S3: 1.5261

    Trading recommendation:
    Our stop was hit for a loss. We will only buy a break above 1.5564.

    Analysis are provided byInstaForex.
  20. InstaForex Gertrude

    InstaForex Gertrude Member

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    Daily analysis of USDX for June 20, 2017

    [​IMG]

    USDX was favored by the bulls above the 200 SMA at H1 chart and it's heading to break above last Friday's highs. If that happens, we can expect a target to be reached around 97.75, which should add strength to bulls' force in the short-term. By the other side, if the index pulls back at the current stage, then a testing of the 96.95 level is likely to happen.

    H1 chart's resistance levels: 97.41 / 97.75
    H1 chart's support levels: 96.95 / 96.70

    Trading recommendations for today:
    Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 97.41, take profit is at 97.75 and stop loss is at 97.07.

    Analysis are provided byInstaForex.

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