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Technical Analysis from www.Instaforex.com
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Technical analysis of USD/CHF for November 30, 2015 2015-11-30 0/5
USD/CHF is expected to trade in a higher range. The pair posted a strong rebound on its last trading day and now seems to be forming an intraday bullish flag pattern. The relative strength index is above its neutrality area of 50 favoring a new rebound. The 20-period and 50-period moving averages are heading upward. Hence, as long as 1.026 (a strong support base) holds on the downside, a further rise is more likely to occur towards 1.0330 and 1.0370. 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 1.0330 and the second target at 1.0370. In the alternative scenario, short positions are recommended with the first target at 1.0220 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 1.0195. The pivot point is at 1.0260. Resistance levels: 1.0330 1.0370 1.0410 Support levels: 1..0220 1.0195 1.0170 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of USD/JPY for November 30, 2015 2015-11-30 0/5
USD/JPY is expected to trade with a bullish bias. The US stock indices were mixed at Friday's shortened session. The Dow Jones Industrial Average edged down by 0.1% to 17798, the S&P 500 added 0.1% to 2090, while the Nasdaq Composite rose by 0.2% to 5127. Nymex crude oil lost 3.1% to $41.71 a barrel, gold dropped by 1.3% to $1,057 a troy ounce, and the benchmark 10-year Treasury yield declined to 2.213% from 2.232% during the previous session. The U.S. dollar kept advancing as investors continued to bet the Federal Reserve would raise interest rates next month. The Wall Street Journal Dollar Index gained 0.3% to 90.81. EUR/USD fell 0.2% to 1.0587, GBP/USD dropped 0.4% to 1.5033, while USD/CHF ran up to 1.0330 before settling 0.6% higher at 1.0298, and USD/CAD also gained 0.6% to 1.3371. The pair posted a rebound after touching as low as 122.27 Friday. It is trading around the 20-period intraday (30-minute chart) moving average, which stands above the 50-period one. Meanwhile the relative strength index stays above the neutrality level at 50, lacking downward momentum. The intraday outlook continues to be bullish, and the first upside target is set at 122.95 (around the high of Nov. 25) and the second one at 123.05. decline toward 122.25 (around Friday's low). 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 122.95 and the second target at 123.05. In the alternative scenario, short positions are recommended with the first target at 122.25 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 122.00. The pivot point is at 122.50. Resistance levels: 122.95 123.05 123.50 Support levels: 122.25 122 121.80 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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EUR/USD:
Without testing the support line at 1.0550, the EUR/USD pair went upwards by 80 pips and this could be a rally in the context of a downtrend, unless the resistance line at 1.0700 is broken to the upside. This is the only condition that could render the current bearish bias useless, and unless that happens rallies could be taken as short-selling opportunities.
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USD/CHF:
The USD/CHF pair went sideways on Tuesday, as the price gallivanted between the support level at 1.0250 and the resistance level at 1.0300. The price would move out of the channel soon, going upwards in respect of the current bullish bias in the market, although this does not rule out the possibility of transitory pullbacks along the way.
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GBP/USD: \
The cable simply performed a shallow upward bounce on Tuesday, while the outlook remains bearish. Yes, it is highly possible that the current bearish bias would be sustained, because the outlook for the GBP/USD pair (including GB pairs) is gloomy for December 2015. It is likely that the price would drop further by 150 pips minimum.
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USD/JPY:
The USD/JPY pair has now moved above the demand level of 122.50. It is highly probable that the price would reach the supply level of 123.50; and in case this happens, the bullish signal will become stronger in the market. Further bullish movement is expected in the market.
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EUR/JPY:
In spite of the bullish attempts, there is not yet a buy signal in the chart. Though, this is a threat to the Bullish Confirmation Pattern in the market, because the RSI period 14 is already above the level of 50; but the EMA 11 is yet to cross the EMA 56 to the upside. An upwards movement of at least 200 pips is needed for the recent bearish bias to become completely illogical.
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Technical analysis of GBP/JPY for December 02, 2015 2015-12-02 0/5
The GBP/JPY pair is expected to trade in a higher range as the pair is expected to continue its rebound. The pair is trading above its rising 20-period and 50-period moving averages. The relative strength index is above its neutrality level of 50 lacking downward momentum. As long as 184.80 holds as the key support level, look for a further advance to the first upside target at 186 and then the second one at 186.30. 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 186 and the second target at 186.30. In the alternative scenario, short positions are recommended with the first target at 184.25 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 183.85. The pivot point is at 184.80. Resistance levels: 186 186.30 187 Support levels: 184.25 183.85 183 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of NZD/USD for December 02, 2015 2015-12-02 0/5
The NZD/USD pair is expected to trade in a higher range as the bias remains bullish. The pair continued to post strong rebounds, and remains bullish above its rising 50-period moving average. The relative strength index stands firmly above its neutrality level of 50. Furthermore, the process of reaching higher highs and lows remains intact, which indicates that the current trend is still positive. Hence, as long as 0.6615 (our trailing stop loss) is not broken, we should expect a new increase to 0.6690 and 0.6720. 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 0.6690 and the second target at 0.6720. In the alternative scenario, short positions are recommended with the first target at 0.659040 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 0.6565. The pivot point is at 0.6615. Resistance levels: 0.6690 0.6720 0.6760 Support levels: 0.6590 0.6565 0.65 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of GBP/JPY for December 02, 2015 2015-12-02 0/5
The GBP/JPY pair is expected to trade in a higher range as the pair is expected to continue its rebound. The pair is trading above its rising 20-period and 50-period moving averages. The relative strength index is above its neutrality level of 50 lacking downward momentum. As long as 184.80 holds as the key support level, look for a further advance to the first upside target at 186 and then the second one at 186.30. 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 186 and the second target at 186.30. In the alternative scenario, short positions are recommended with the first target at 184.25 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 183.85. The pivot point is at 184.80. Resistance levels: 186 186.30 187 Support levels: 184.25 183.85 183 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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