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Technical Analysis from www.Instaforex.com
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USD/CHF:
The USD/CHF has assumed its upward journey, which started last week. The price is now close to the resistance level of 0.9950, which could be breached to the upside, in case the fundamental figures that are expected today favor the ongoing bullish pressure in the market. The price has moved upwards by 170 pips this week, and this gain may continue for the rest of the week.
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GBP/USD:
This currency trading instrument is moving downward slowly and gradually, partly owing to the weakness in EUR/USD (a pair with which the GBP/USD is positively correlated). There is a Bearish Confirmation Pattern on the chart: the EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. Further movement to the south is therefore logically anticipated.
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USD/JPY:
What happened on Wednesday underlines the ongoing bullish pressure in the market. The price formed a bullish engulfing candlestick pattern yesterday, thereby ending the recent bearish attempt in the market. The price is now above the demand level at 121.00, and it could reach the supply level at 121.50, which is the target for this week.
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EUR/JPY:
The EUR/JPY cross traded further downwards on Wednesday, reinforcing the bearish bias in the market. The demand zone at 132.00 has been tested and it could be retested. It could even be breached to the downside as the price reaches another demand zone at 131.50. However, a bullish reversal could be experienced on Friday.
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Technical analysis of EUR/USD for October 29, 2015 2015-10-29 5/5
When the European market opens, some economic news on the Italian 10-y Bond Auction, German Unemployment Change, Spanish Flash CPI y/y, and German Prelim CPI m/m is due to be released. The US will unveil data on the Natural Gas Storage, Pending Home Sales m/m, Advance GDP Price Index q/q, Unemployment Claims, and Advance GDP q/q. So amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.0977. Strong Resistance:1.0971. Original Resistance: 1.0960. Inner Sell Area: 1.0949. Target Inner Area: 1.0924. Inner Buy Area: 1.10899. Original Support: 1.0888. Strong Support: 1.0877. Breakout sell Level: 1.0871. 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. Performed by Arief Makmur, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of USD/JPY for October 29, 2015 2015-10-29 5/5
In Asia, Japan will release data on the Prelim Industrial Production m/m, and the US will publish economic news on the Natural Gas Storage, Pending Home Sales m/m, Advance GDP Price Index q/q, Unemployment Claims, and Advance GDP q/q. 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: 120.98. Resistance. 2: 120.74. Resistance. 1: 120.51. Support. 1: 120.21. Support. 2: 119.98. Support. 3: 119.74. 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. Performed by Arief Makmur, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of EUR/USD for October 29, 2015 2015-10-29 5/5
When the European market opens, some economic news on the Italian 10-y Bond Auction, German Unemployment Change, Spanish Flash CPI y/y, and German Prelim CPI m/m is due to be released. The US will unveil data on the Natural Gas Storage, Pending Home Sales m/m, Advance GDP Price Index q/q, Unemployment Claims, and Advance GDP q/q. So amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.0977. Strong Resistance:1.0971. Original Resistance: 1.0960. Inner Sell Area: 1.0949. Target Inner Area: 1.0924. Inner Buy Area: 1.10899. Original Support: 1.0888. Strong Support: 1.0877. Breakout sell Level: 1.0871. 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. Performed by Arief Makmur, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of USD/JPY for October 29, 2015 2015-10-29 5/5
In Asia, Japan will release data on the Prelim Industrial Production m/m, and the US will publish economic news on the Natural Gas Storage, Pending Home Sales m/m, Advance GDP Price Index q/q, Unemployment Claims, and Advance GDP q/q. 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: 120.98. Resistance. 2: 120.74. Resistance. 1: 120.51. Support. 1: 120.21. Support. 2: 119.98. Support. 3: 119.74. 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. Performed by Arief Makmur, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of USD/JPY for October 30, 2015 2015-10-30 0/5
USD/JPY is expected to trade with a bullish bias US dollar indexes closed lower on Thursday pressured by shares in the semiconductor & semiconductor equipment, automobile & components and banks sectors. The DJIA fell 23 points to 17755, the S&P 500 slipped 0.94 point to 2089 and the Nasdaq composite lost 21 to 5074. The 10-year Treasury yield rose 0.080 percentage points to 2.174%. Nymex crude ended 0.3% up at $46.06, while gold was 2.4% down at $1,147.20/ounce. On the economic data front, US initial jobless claims changed a little reporting 260,000 last week from 259,000 the week before. The GDP rose by 1.5% after a 3.9% increase in the previous three months, mainly due to an inventory correction. Finally, pending home sales fell 2.3% in September following a $1.4% decrease in August. Economists had been expecting a 1% increase. USD/JPY remained in a trading range around 121.00 ahead of the BOJ's policy decision. The pair stays above its key support at 120.45 and is well supported by its 50-period intraday MA. And the intraday RSI is around 50 lacking downward momentum. Further upside is therefore expected with the next horizontal resistance and overlap set at 121.50. A breakout above this level would call for a further advance towards 121.90. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 121.50 and the second target at 121.90. In the alternative scenario, short positions are recommended with the first target at 120.15 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 119.90. The pivot point is at 120.45. Resistance levels:121.50 121.90 122.30 Support levels: 120.15 119.90 119.45 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of USD/CHF for October 30, 2015 2015-10-30 0/5
USD/CHF is expected to trade in a higher range as bias remains bullish. Technically, the pair seems to be losing its upward momentum, and is likely to test its horizontal level at 0.9850, which plays an important support role. The RSI lacks downward momentum, while the 20-period and 50-period MAs are turning flat from a positive slope. As long as 0.9850 is not broken, a new rebound may occur to 0.9960 and even to 1.0000 as possible. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.9960 and the second target at 1.000. In the alternative scenario, short positions are recommended with the first target at 0.9815 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9755. The pivot point is at 0.9850. Resistance levels: 0.9960 1.000 1.0060 Support levels: 0.9815 0.9755 0.9710 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
