Wave Analysis from InstaForex

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

  1. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    US Dollar: bulls ready for revenge

    The US dollar was sold at the close of the week on Friday after an unexpectedly weak report on retail sales and industrial production for the month of August. The data cast doubt on the prospects for the recovery of the US economy.

    Retail sales decreased by 0.2% compared to July. Moreover, the July growth of 0.6% was revised downwards to 0.3%. Meanwhile, the report for June was a;so revised from + 0.3% to -0.1%. Thus, the dynamics of retail sales over the past three months was significantly worse than the market expected, casting doubt on the ability of the US consumer sector to maintain demand at the same level.

    For the first time since January, the volume of industrial production has decreased. The decline in August was 0.9%, which is the maximum monthly decline since May 2009, causing the manufacturing industry fell by 0.3%. The reason for such a weak data, according to experts, is the consequences of hurricane "Harvey", which broke out on the southern coast of the United States and contributed to a decline in the oil refining and chemical industries.

    The GDP growth rate in the third quarter was now under attack. The GDPNow model from the Atlanta Federal Reserve forecasts an increase of 2.2% in the third quarter, which is noticeably worse than the 4% growth expectations of just 6 weeks ago. Meanwhile, weak economic growth casts doubt on the Fed's plans to normalize monetary policy.

    [​IMG]

    The failed report on retail sales was unexpected given the acceleration in consumer price growth. In August, inflation rose by 0.4% against a growth of 0.1% for the month of July. Year-on-year growth reached 1.9%. The results were better than forecasts and, it would seem, gave a strong argument for the bulls on the dollar. Good dynamics on consumer activity would add credibility to the leaders of the Fed. This is because after the start of the program to reduce the balance sheet following the meeting on September 20, the market considered the matter resolved,and the dollar should have receive the long-awaited impetus for a turn.

    However, the dollar's fate is again in question. Of course, the dynamics of retail sales is unpleasant news for the Fed but it will not affect its position. The plan to reduce the balance sheet was announced in advance and the impact of the hurricane will have be temporary. However, the increase in inflation is a much stronger argument, and it will give an opportunity in the updated forecast of September 20 to indicate higher figures than the market expects.

    The weakening of the dollar by the end of the week was also caused by the unexpectedly aggressive position of the Bank of England, which announced the imminent start of the rate hike cycle, and fixing profits before the weekend. At the same time, there is a noticeable recovery in the markets, which is reflected in the growth in demand for risky assets with stock indices growing. The dollar is experiencing a clear deficit of good news, and the beginning of the week before the Fed meeting will be held in anticipation of the positive outcome of the meeting.

    At the moment, the dollar is ready to resume growth. All the catalysts for its decline in the current year are already played by the market. There are no new catalysts and there are very few reasons for further weakening. The problem with the level of public debt and government funding is removed from the agenda. The fate of the tax reform is in the hands of the democrats with whom Trump, according to recent data, has managed to find a solution that suits everyone. Any announcement of support for reforms by the Congress will serve as a powerful driver for the growth of the dollar, as it will potentially contain the factor of a rapid inflow of investments into the US economy.

    The dollar has good chances, primarily against the yen and the franc. The Central Bank of Japan and the NBS continue to adhere to a soft monetary policy, which, against the backdrop of growing interest in risk, will be an additional argument in favor of sales. Against the euro, the dollar does not yet have strong positions, as the ECB is also preparing to wind down the buyback program. However, the euro's rise before the Fed meeting is virtually ruled out. Trade in the Australian and Canadian dollars will be cautious, with greater chances to go into the lateral range, at least until the support from rising commodity prices ceases.

    Analysis are provided byInstaForex.
  2. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Pound defeated a strong opponent

    The British pound was marked by the best weekly dynamics against the basket of major world currencies over the past nine years, strengthening against the US dollar by 3% after the Bank of England signaled it was ready to tighten monetary policy. It is interesting to note that the US dollar did not look like a whipping boy either. The reduction of geopolitical risks around North Korea and the growth of the probability of the Fed's monetary restriction against the acceleration of inflation to 1.9% allowed the "dollar" to finish the five-day session in positive territory against the majority of competitors from the G10. The bigger the gains of sterling!

    It's one thing when the market pushes the date of the rate hike and then brings it closer, as in the case of the Fed. It is quite another when the chances of tightening monetary policy grow dramatically, as in the case of the Bank of England. Guided by the need to implement its own inflation projections, the regulator made it clear that it was going to raise the repo rate in the near future. And if someone did not believe him, then the speech of Gertjan Vlieghe forced them to do it.

    The most serious "dove" of the Committee on Monetary Policy said that the increase in wages, the growth of the world economy, and the household expenditures make it possible to expect the first increase in rates in the next few months. The derivatives market believes that this will happen in November.

    The probability of raising the repo rate

    [​IMG]

    Source: Bloomberg.
    When an ardent opponent of monetary restriction speaks the language of the "hawk", it becomes the best driver for currency growth. The pound proved it, having strengthened during the day by 1.5% against the US dollar.

    The minutes of the last meeting of the Bank of England and Gertjan Vlieghe proved that the "doves" remained in the minority. Meanwhile, the pound's sensitivity to upcoming releases of macroeconomic statistics should increase. It seems that the BoE is now less worried than before about the problem of reducing real wages. However, if retail sales show a decline in purchasing power, then the problem will remind it of itself. The release of the indicator is scheduled for September 20.

    For the US dollar, the key event of the week will be the FOMC meeting. The open market committee can lower inflation forecasts and change the expected trajectory of the federal funds rate, which will affect the long-term outlook for the USD index. The Fed continues to be concerned about the dynamics of personal consumer spending, and the acceleration of the August CPI may eventually turn out to be the usual market noise. It is hardly to be expected that the signal from Janet Yellen and her colleagues about the act of monetary restriction in December will be the reason for buying the "dollar". The futures market thus pawns 59% of the probability that this will happen.

    Technically, the bulls managed to achieve a target of 161.8% in the AB = CD pattern very quickly, after which the correction risks increased in the direction of 1.34-1.345. To continue the northern trend to 1.377 (targeting 200% on AB = CD), customers need to update the September maximum.

    GBP / USD, daily chart

    [​IMG]

    Analysis are provided byInstaForex.
  3. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Does Brent feel the ceiling?

    Oil continues in its northern trend, inspired by the increase in the forecast of global demand by 1.7% from the International Energy Agency, the reduction of Saudi Arabia's exports to the lowest levels over the past three years, and the decline in production of Iraq's second-largest OPEC producer by 260 bpd. Baghdad said that it exceeded its plans brought by the cartel, which is a "bullish" factor for black gold. Moreover, another role in its successes is played by the suspended state of the American dollar.

    As a rule, autumn is not the best period for Brent and WTI. The completion of the automotive season in the US leads to a reduction in inventories. In addition, the Energy Information Administration reports that there is an increase of production to 6.08 million bpd in October, encouraged by rising prices of producers of shale oil. Nevertheless, hurricanes allowed for adjustments to the seasonal factor. For a long time, black gold finally felt relief under pressure from the growth of drilling rigs from Baker Hughes. The decline of the indicator for two consecutive weeks reached 749 (-7 on the results of the five-day period by September 15).

    As the US refineries restart, the demand for oil should gradually increase and support prices because of optimistic forecasts for the global index from the IEA and OPEC. At the same time, $50 per barrel for WTI is a very dangerous figure. It attracts hedgers like honey bears, so it will be extremely difficult to gain a foothold above this mark.

    As the value of black gold rises, the question is returned to the market: what are the limits? It is obvious that the end of the hurricanes "Harvey" and "Irma" and the transition of the market to a normal state will return it to the idea of increasing American production with parallel insurance of price risks. This combination of drivers has repeatedly provoked attacks of "bears." I do not think that something will change in the fall. You can talk endlessly about the fulfillment of the obligations to reduce production by OPEC members. You can also discuss about the extension of the agreement beyond March 2017. However, the fact remains: Americans continue and will continue to use the favorable conjuncture for them.

    Dynamics of the US dollar is of no small importance. Since Brent and WTI are quoted in this currency, the growth of the USD index leads to a rise in the cost of imports in the largest consumer countries, and vice versa.

    Dynamics of the USD Index and Brent

    [​IMG]

    Source: Trading Economics.

    In this regard, the expectations of the start of the process of normalizing the balance of the Fed and a rise in the probability of an increase in the rate for federal funds from 33% to 58% is of special joy to "bulls" that black gold is not able to bring. On the other hand, the positions of the euro against the backdrop of the ECB's desire to roll back QE look strong. After all, it has the largest share in the USD index. Thus, consolidation in EUR / USD does not put obstacles on the way of black gold to the upward trend.

    Technically, a resistance break at 55.95 will allow Brent bulls to continue the rally in the direction of the following targets (by 200% and 224%) in the AB = CD pattern. On the contrary, the inability of buyers to take an important level by storm will testify to their weakness and will increase the risks of correction to $ 54.7 and $ 53.1 per barrel.

    Brent, daily chart

    [​IMG]

    Analysis are provided byInstaForex.
  4. IFX Yvonne

    IFX Yvonne Member

    Messages:
    97
    Likes Received:
    1
    Trophy Points:
    8
    Technical analysis of USD/CHF for September 21, 2017

    [​IMG]

    All our targets which we predicted in yesterday's analysis have been reached. The pair is trading above its ascending 20-period and 50-period moving averages, which play support roles and maintain the bullish bias. The relative strength index is calling for a new upleg. The downside potential should be limited by the key support at 0.9645.

    As widely expected, the Federal Reserve kept its key interest rates unchanged. It also announced plans to begin in October shrinking its approximately $4.2 trillion in holdings of U.S. Treasury bonds and mortgage-backed securities acquired after the 2008 financial crisis. However, according to projections released at the same time by the Federal Open Market Committee, the central bank will go ahead for one more rate increase this year and three times next year. This blew a surprise to the market, as investors had previously believed a series of weak inflation readings might alter the Fed's monetary tightening plans.

    To sum up, as long as this key level is not broken, look for a further advance to 0.9765 and even to 0.9795 in extension.

    Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. 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.

    Strategy: BUY, Stop Loss: 0.9645, Take Profit: 0.9765

    Resistance levels: 0.9765, 0.9795, and 0.98830

    Support levels: 0.9625, 0.9590, and 0.9550


    InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
  5. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    EUR/JPY dropping nicely, remain bearish

    The price continues to test our major resistance at 134.15 (Fibonacci extension, horizontal swing high resistance) and we expect to see a drop form this level to at least 132.01 support (Fibonacci retracement, horizontal pullback support). Do take note of the bullish ascending channel we're seeing as we might see the price bounces off this level and only a break of the channel would see a stronger drop towards our profit target.

    Stochastic (34,5,3) is seeing major resistance at 96% and we expect a drop from this level. It also displays good downside potential for our drop.

    Sell below 134.15. Stop loss is at 134.92. Take profit is at 132.01.

    [​IMG]

    Analysis are provided byInstaForex.
  6. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    EUR/JPY dropping nicely, remain bearish

    The price continues to test our major resistance at 134.15 (Fibonacci extension, horizontal swing high resistance) and we expect to see a drop form this level to at least 132.01 support (Fibonacci retracement, horizontal pullback support). Do take note of the bullish ascending channel we're seeing as we might see the price bounces off this level and only a break of the channel would see a stronger drop towards our profit target.

    Stochastic (34,5,3) is seeing major resistance at 96% and we expect a drop from this level. It also displays good downside potential for our drop.

    Sell below 134.15. Stop loss is at 134.92. Take profit is at 132.01.

    [​IMG]

    Analysis are provided byInstaForex.
  7. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    AUD/JPY right on buying level, remain bullish

    [​IMG]

    The price is now testing major support at 88.52 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) and we expect to see a bounce above this level to push price up to 89.66 resistance (Fibonacci extension, horizontal swing high resistance).

    Stochastic (34,3,1) is starting to bounce nicely from our 5% support and ha good upside potential

    Buy above 88.52. Stop loss is at 87.89. Take profit is at 89.66.

    Analysis are provided byInstaForex.
  8. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Daily analysis of USDX for September 28, 2017

    USDX is testing upper Bollinger bands across the board and looks forward to testing the next resistance around 94.04. However, we're still expecting a corrective move towards the 200 SMA at H1 chart in a first degree. If the index manages to break above 94.04, we can expect another higher leg to test the 95.00 psychological level.

    [​IMG]

    H1 chart's resistance levels: 93.09 / 94.04
    H1 chart's support levels: 91.67 / 90.30

    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 91.67, take profit is at 90.30 and stop loss is at 93.04.

    Analysis are provided byInstaForex.
  9. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Elliott wave analysis of EUR/NZD for September 29, 2017

    [​IMG]

    Wave summary:
    We continue to look for more upside pressure towards 1.6875, but we need a break above minor resistance at 1.6410 to get the next "GO" higher. As long as the minor resistance at 1.6410 is able to cap the upside, we should look for a minor dip to 1.6311 before turning up again.

    R3: 1.6451
    R2: 1.6410
    R1: 1.6340
    Pivot: 1.6300
    S1: 1.6278
    S2: 1.6222
    S3: 1.6200

    Trading recommendation:
    We will buy EUR again at 1.6300 or upon a break above 1.6365.

    Analysis are provided byInstaForex.
  10. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    EUR/USD approaching major resistance, prepare to sell

    [​IMG]

    The price is approaching major resistance at 1.1841 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong reaction off this level to push the price down to at least 1.1728 support (Fibonacci extension, horizontal swing low support, Elliott wave theory).

    Stochastic (34,3,1) is seeing major resistance from the 100% level and we're starting to see a nice reversal take place.

    Sell below 1.1841. Stop loss is at 1.1890. Take profit is at 1.1728.

    Analysis are provided byInstaForex.
  11. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Technical analysis of EUR/USD for Oct 03, 2017

    [​IMG]

    When the European market opens, some Economic Data will be released, such as PPI m/m and Spanish Unemployment Change. The US will release the Economic Data, too, such as Total Vehicle Sale, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1789.
    Strong Resistance:1.1782.
    Original Resistance: 1.1771.
    Inner Sell Area: 1.1760.
    Target Inner Area: 1.1732.
    Inner Buy Area: 1.1704.
    Original Support: 1.1693.
    Strong Support: 1.1682.
    Breakout SELL Level: 1.1675.

    Analysis are provided byInstaForex.
  12. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Technical analysis of USD/JPY for Oct 04, 2017

    [​IMG]

    In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data, such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change. So, there is a probability the USD/JPY will move with medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Resistance. 3: 113.16.
    Resistance. 2: 112.94.
    Resistance. 1: 112.72.
    Support. 1: 112.44.
    Support. 2: 112.22.
    Support. 3: 112.00.

    Analysis are provided byInstaForex.
  13. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Technical analysis of EUR/USD for Oct 05, 2017

    [​IMG]

    When the European market opens, some Economic Data will be released, such as ECB Monetary Policy Meeting Accounts, French 10-y Bond Auction, Spanish 10-y Bond Auction, and Retail PMI. The US will release the Economic Data, too, such as Natural Gas Storage, Factory Orders m/m, Trade Balance, Unemployment Claims, and Challenger Job Cuts y/y, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1812.
    Strong Resistance:1.1805.
    Original Resistance: 1.1794.
    Inner Sell Area: 1.1783.
    Target Inner Area: 1.1755.
    Inner Buy Area: 1.1727.
    Original Support: 1.1716.
    Strong Support: 1.1705.
    Breakout SELL Level: 1.1698.

    Analysis are provided byInstaForex.
  14. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Technical analysis of EUR/USD for Oct 06, 2017

    [​IMG]

    When the European market opens, some Economic Data will be released, such as Italian Retail Sales m/m, French Trade Balance, French Gov Budget Balance, and German Factory Orders m/m. The US will release the Economic Data, too, such as Consumer Credit m/m, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m, so, amid the reports, EUR/USD will move in a medium to high volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1769.
    Strong Resistance:1.1762.
    Original Resistance: 1.1751.
    Inner Sell Area: 1.1740.
    Target Inner Area: 1.1712.
    Inner Buy Area: 1.1684.
    Original Support: 1.1673.
    Strong Support: 1.1662.
    Breakout SELL Level: 1.1655.

    Analysis are provided byInstaForex.
  15. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    EUR/USD testing strong resistance, prepare to sell

    [​IMG]

    The price has bounced up perfectly from our buying area previously and is fast approaching our profit target. We turn bearish today looking to sell below 1.11744 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 1.1653 support (Fibonacci extension).

    Stochastic (21,5,3) is seeing major resistance below 95% and we expect a corresponding reaction from this level.

    Sell below 1.1744. Stop loss is at 1.1793. Take profit is at 1.1653.

    Analysis are provided byInstaForex.
  16. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Technical analysis of USD/JPY for Oct 10, 2017

    [​IMG]

    In Asia, Japan will release the Economy Watchers Sentiment and Current Account data, and the US will release some Economic Data, such as IBD/TIPP Economic Optimism and NFIB Small Business Index. So, there is a probability the USD/JPY will move with ... volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Resistance. 3: 113.27.
    Resistance. 2: 113.06.
    Resistance. 1: 112.83.
    Support. 1: 112.55.
    Support. 2: 112.33.
    Support. 3: 112.12.

    Analysis are provided byInstaForex.
  17. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Technical analysis of NZD/USD for October 11, 2017

    [​IMG]

    Overview:
    The NZD/USD didn't make significant movement yesterday. There are no changes in my technical outlook. The bias remains bearish in the nearest term testing 0.7000 or higher. Immediate support is seen around 0.7087. The NZD/USD pair fell from the level of 0.7128 towards 0.7087. Now, the price is set at 0.7069 to act as a minor support. It should be noted that volatility is very high for that the NZD/USD pair is still moving between 0.7128 and 0.7040 in coming hours. Furthermore, the price has been set below the strong resistance at the levels of 0.7169 and 0.7220, which coincides with the 23.6% and 38.2% Fibonacci retracement level respectively. Additionally, the price is in a bearish channel now. Amid the previous events, the pair is still in a downtrend. From this point, the NZD/USD pair is continuing in a bearish trend from the new resistance of 0.7128. Thereupon, the price spot of 0.7128/0.7087 remains a significant resistance zone. Therefore, a possibility that the NZD/USD pair will have downside momentum is rather convincing and the structure of a fall does not look corrective. In order to indicate a bearish opportunity below 1.0020, sell below 0.7128 or 0.7087 with the first targets at 0.7040 and 0.7000 (support 3). However, the stop loss should be located above the level of 0.7169.

    Analysis are provided byInstaForex.
  18. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    The political crisis in Spain does not put pressure on the euro

    [​IMG]

    Despite the continuing tension between Spain and Catalonia, the European currency continues to strengthen its positions against the US dollar. The expected publication of the report of the Federal Reserve System since the last meeting also does not put pressure on euro buyers.

    Today, the Prime Minister of Spain has demanded that the leader of Catalonia Carles Puigdemont gave a clearer assessment of his position and answer the question whether he declared the independence of the region or not.

    If the Catalan leader takes this step, the Prime Minister of Spain will be fully entitled to deprive the rights of Catalonia some autonomy, which will lead to greater confrontation. This will be done with an based on article 155 of the Spanish Constitution, which allows the government to deprive the regions of certain rights of autonomy in the event of a threat to the interests of Spain.

    Statements by the representatives of the Federal Reserve did not affect the prices of the US dollar. Today, the president of the Federal Reserve Bank of Chicago, Charles Evans, draw the focus towards the fundamental indicators of the US economy. In his view, the current situation is good enough to start a discussion about the need to raise interest rates later this year. Evans also noted the improvement in the situation with wages, and expects that the unemployment rate in the US may drop even lower.

    As for the technical picture of the EURUSD pair, going beyond resistance 1.1830 had a positive impact on new buyers of risky assets, which led to the further increase of the trading instrument already in the 1.1860 area with the main purpose of reaching 1.1870.

    The growth potential of the euro may be limited by the Fed's minutes, which will be published tonight.

    Prices of oil fell after the release of the OPEC report, which noted an increase in production levels.

    According to the data, the cartel's production in September this year increased to 32.75 million barrels per day. OPEC expects oil demand to grow by 1.5 million barrels per day by 2017 fiscal year, as well as 1.4 million barrels a day in 2018.

    The cartel also increased the estimate of the world supply of oil in September to 96.5 million barrels per day. Total oil reserves in OECD countries in August 2017 were 171 million barrels, above the five-year average level.

    As for the technical picture of oil, only a breakthrough of the level of 51.30 on the WTI mark can lead to a larger upward movement with a test of the monthly highs around 52.80. If buyers can not get hold of the level of 51 US dollars, a downward correction may lead to the updating of the lower limit of 49.40.

    Analysis are provided byInstaForex.
  19. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Technical analysis of EUR/USD for Oct 13, 2017

    [​IMG]

    When the European market opens, some Economic Data will be released, such as German Final CPI m/m. The US will release the Economic Data, too, such as Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Retail Sales m/m, Core Retail Sales m/m, Core CPI m/m, and CPI m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1886.
    Strong Resistance:1.1879.
    Original Resistance: 1.1868.
    Inner Sell Area: 1.1857.
    Target Inner Area: 1.1829.
    Inner Buy Area: 1.1801.
    Original Support: 1.1790.
    Strong Support: 1.1779.
    Breakout SELL Level: 1.1772.

    Analysis are provided byInstaForex.
  20. InstaForex Gertrude

    InstaForex Gertrude Member

    Messages:
    358
    Likes Received:
    0
    Trophy Points:
    16
    Technical analysis of EUR/USD for Oct 16, 2017

    [​IMG]

    When the European market opens, some Economic Data will be released, such as Trade Balance and German WPI m/m. The US will release the Economic Data, too, such as Federal Budget Balance and Empire State Manufacturing Index, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:
    Breakout BUY Level: 1.1870.
    Strong Resistance:1.1863.
    Original Resistance: 1.1852.
    Inner Sell Area: 1.1841.
    Target Inner Area: 1.1813.
    Inner Buy Area: 1.1785.
    Original Support: 1.1774.
    Strong Support: 1.1763.
    Breakout SELL Level: 1.1756.

    Analysis are provided byInstaForex.

Share This Page

Loading...