EUR/AUD intraday technical levels and trading recommendations for February 18, 2015

eurauddaily.png

By the end of 2014 the EUR/AUD pair declined rapidly off 1.5330 reaching down to 1.3970 where bullish recovery was manifested.


Recently the EUR/AUD pair has been trending upwards within the depicted bullish channel until the price level of 1.4800 was reached few weeks ago.


The price level of 1.4800 corresponds to the 61.8% Fibonacci level of the recent bearish swing. Around it a DOUBLE-TOP bearish reversal pattern is being expressed.


Confirmation of the reversal pattern requires DAILY fixation below the price level of 1.4500, which corresponds to the lower limit of the daily channel as well.


If confirmed, initial projection target would be located around 1.4300 and then 1.4270.


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/JPY for February 18, 2015


Technical outlook and chart setups:


The EUR/JPY pair has retraced lower after rallying through the levels of 136.00 yesterday, and is seen trading around the levels of 135.50 for now. It is recommended to remain long and to look to add further positions at the current levels with risk at 134.00. Immediate support is seen at the levels of 134.00 followed by 133.50/60, 132.50 and lower, while resistance is seen at 137.50/138.50 followed by 142.30 levels and higher, respectively. Bulls are poised to take back control and continue rallying towards the levels of 137.50 and 138.00, subsequently.


Trading recommendations:


Remain long for now. Stop is at 133.50, target is 137.50 and 138.00


Good luck!


The material has been provided by InstaForex Company - www.instaforex.com

GBP/USD intraday technical levels and trading recommendations for February 18, 2015

gbpusddailyy.pnggbpusdh44.png

Overview:


The daily closure below the recent bottoms located around 1.5540-1.5560 rendered the previous consolidation range as a bearish flag pattern with the projection target at 1.5300.


The market has already pushed further below reaching down to 1.5030-1.4980 where the lower limit of the channel has provided support for the pair few weeks ago.


Recently, H4 chart showed a transition phase into a sideway movement that has been maintained within the depicted price range.


On February 5 initial bullish breakout above 1.5220 took place. Shortly after, a new DAILY support was established around 1.5170-1.5200 (an ascending bottom, a sign of ongoing bullish momentum).


Since then, the GBP/USD pair has been trending upwards within the depicted H4 channel. Persistence of the pair above the recent DAILY support (the price zone of 1.5170-1.5200) applied extensive bullish pressure over the price level of 1.5360 (61.8% Fibonacci level on the H4 chart) which didn't provide enough RESISTANCE.


Long-term projection target for the recent bullish breakout above 1.5220 is located around 1.5500-1.5550 where the previous DAILY bottoms are located (DAILY RESISTANCE).


Trading recommendations:


As long as bulls keep defending the recent SUPPORT around 1.5350, they should keep targeting at 1.5460 and 1.5580.


For traders who missed the initial breakout, a valid buy entry can be taken at retesting of 1.5260 with SL located below the recent bottom around 1.5200.


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of GBP/CHF for February 18, 2015

gbpchf18022015.jpg


Technical outlook and chart setups:


The GBP/CHF pair has again pushed higher into the levels of 1.4530/40 taking stops out at the levels of 1.4420 for short positions taken yesterday. It is clear that the pair is headed towards the levels of 1.4650/1.4750 at least from here. Immediate support is seen at 1.4260/70 followed by 1.4000, 1.3850 and lower, while resistance is seen at 1.4650 followed by 1.4750 and higher, respectively. It is recommended to remain flat for now and look to enter buying around the levels of 1.4380 levels with risk around the levels of 1.4250. Bulls are forming higher highs and higher lows for now and sequence could continue until 1.4250 remains intact.


Trading recommendations:


Remain flat for now and look to buy lower around the levels of 1.4380.


Good luck!


The material has been provided by InstaForex Company - www.instaforex.com

USD/CAD intraday technical levels and trading recommendations for February 18, 2015

cadweek.pngcaddaily.png

Overview:


The USD/CAD pair has been trending upwards within the bullish channel depicted on the WEEKLY chart.


The market looked overbought since bulls have pushed further above the upper limit of both depicted bullish channels as well as the 79.6%Fibonacci level. That is why bearish correction that started off 1.2750 was anticipated in the previous articles.


The nearest SUPPORT level to meet the USD/CAD pair is located around 1.2300 (79.6% Fibonacci level).


Note that the USD/CAD bulls have been defending the recent INTRADAY SUPPORT around 1.2300 (broken 79.6% Fibonacci Level).


The market has not retested the newly-established DAILY SUPPORT around 1.2000.


DAILY closure below the price level of 1.2300 exposes the next DAILY SUPPORT around 1.2000 where the backside of the upper limit of the breached channel is located.


On the other hand, the bullish persistence above 1.2300 (79.6% Fibonacci level) enhances further bullish advancement towards 1.2760-1.2780 without further retesting of 1.2000.


Trading recommendations:


Wait for DAILY closure below 1.2300 for SHORTING the USD/CAD pair. TP levels should be set at 1.2250 and 1.2190. Stop Loss should be set as DAILY closure again above the ENTRY levels (1.2300).


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of Silver for February 18, 2015


Technical outlook and chart setups:


Silver has dropped to the levels of $16.30 as seen here, and is expected to be supported ahead of levels of $16.00. The metal still remains in an uptrend until prices stay above the levels of $16.00 and subsequently above $15.50. It is recommended to remain long for now and also look to add further at the current levels, risk remains below $16.00. Immediate support is seen at $16.20 followed by $15.50 and lower, while resistance is seen at $17.80/90 followed by $18.40 and higher. Bulls are expected to remain in control until prices stay above the levels of $15.50. Please note that the metal has dropped below the 0.618 Fibonacci support and hence it could test $16.20 before resuming rally.


Trading recommendations:


Remain long. Stop is at $15.50, target is open.


Good luck!




The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/NZD for February 18 - 2015

2015-02-18-EURNZD-4H.png

Technical summary:


We are still looking for one last decline closer to 1.5000 to end the correction from 1.5821, but we are also aware that all we are looking for is a correction before renewed upside pressure is expected. Only an unexpected break below support at 1.4888 will invalidate our bullish scenario. In the short term we are looking for a minor correction to 1.5210 before the final decline towards 1.5000 to end wave (ii).


Trading recommendation:


We are looking for a euro-buying opportunity near 1.5000.


The material has been provided by InstaForex Company - www.instaforex.com

Intraday technical levels and trading recommendations for NZD/USD for February 18, 2015

nzdusddail.png

Few months ago, the NZD/USD pair established a consolidation zone that extended between the price levels of 1.7620 and 1.7870.


On January 20 bears managed to execute a successful breakout below the major DEMAND level at 1.7620.


Shortly after, a bearish decline took place towards the price level of 0.7200 where bullish pressure has been applied during the past few weeks.


nzdh4.png

The H4 chart shows an inverted Head and Shoulders pattern that originated off the price level of 0.7200. Estimated bullish projection target is located near the price level of 0.7676.


The price level of 0.7630 corresponds to 61.8% Fibonacci Level as well as the lower limit of the broken consolidation zone depicted on the chart.


That is why the price zone of 0.7630-0.7670 is a significant SUPPLY ZONE to be watched for low-risk SELL entries. Stop Loss should be placed above 0.7700.


The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/JPY for February 18 - 2015

2015-02-18-EURJPY-4H.png

Technical summary:


The picture is pretty much the same. We continue to look for the final zig-zag correction from 130.14, which ideally should continue higher towards 137.65 before wave (iv) is over, and a wave (v) lower towards 125.98 is expected. In the short term only a direct break below support at 133.92 will indicate that wave (iv) already is over and wave (v) lower to end wave C of the expanded flat correction is developing.


Trading recommendation:


We will sell the euro at 137.55 or upon a break below 133.92.


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of Gold for February 18, 2015


Technical outlook and chart setups:


Gold has dropped lower towards the levels of $1,205.00, slightly more than it was expected. The metal still remains structurally in an uptrend until prices remain above the levels of $1,170.00. It is still recommended to remain long and look to add further at the current levels with risk at $1,170.00 for now. The metal is expected to turn bullish from the current levels or $1,197.00, which is the Fibonacci 0.786 support of the rally between the levels of $1,170.00 and $1,307.00 earlier. Immediate support is seen at $1,197.00 followed by $1,170.00 and lower, while resistance is seen at $1,235.00/45, followed by $1,285.00 and higher.


Trading recommendations:


Remain long for now. Stop is at $1,170.00, target is open.


Good luck!




The material has been provided by InstaForex Company - www.instaforex.com

Intraday technical levels and trading recommendations for EUR/USD for February 18, 2015

eurmonth.png


The market has been pushing lower aggressively after breaking below the major DEMAND LEVELS around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010.


The EUR/USD pair has lost almost 800 pips since the beginning of 2015. Moreover, theoretical long-term bearish targets would be located near 0.9450, especially after the FULL bearish MONTHLY below 1.2000 (January's monthly candlestick).


1424262811_eurdaily.png

Breakout below 1.2000 and 1.1900 (prominent psychological SUPPORT) allowed quick bearish decline towards 1.1100 to take place few days later.


Conservative traders were suggested to wait for a bullish pullback looking for better prices to SELL the pair off (R1 at 1.1550 and R2 at 1.1700).


A bearish Flag pattern is being established on the daily chart. A low-risk SELL entry can be taken around 1.1570-1.1590 where a prominent DAILY SUPPLY is roughly located.


1424263757_eurusdh4.png


The price zone of 1.1470-1.1490 is a recently established SUPPLY zone on the H4 chart (the upper limit of a newly-established consolidation zone ).


Short-term SELL positions can be taken there. Stop loss should be placed slightly above the price level of 1.1530 (the recent high).


Moreover, risky traders can wait for DAILY closure below 1.1260 (recent DEMAND level, lower limit of the H4 consolidation zone). This probably indicates a bearish visit towards the WEEKLY low around 1.1110.


The material has been provided by InstaForex Company - www.instaforex.com

Intraday technical levels and trading recommendations for GBP/USD for February 18, 2015

gbpusddaily.png

The previous consolidation movement extended between the price levels of 1.5600 and 1.5770. It represented a period of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.


Bearish breakout below 1.5550 directly exposed lower targets. Bears have already pushed towards the price levels of 1.5050 and 1.4960 which have not been visited since July 2013.


Around these price levels (1.5050 and 1.4960) the market has established another consolidation zone, which extended up to the price levels of 1.5280.


Last week, the ongoing bearish trend was invalidated on Thursday when bullish breakout above 1.5200 took place.


Estimated projection targets are located around 1.5600-1.5640 where the previous consolidation zone was located.


1424262819_gbpusdh4.png


By the end of the last week, the GBP/USD pair has consolidated above the price zone of 1.5360 (61.8% Fibonacci level), which failed to provide enough SUPPLY for the pair.


For the current bullish breakout to happen, bulls should keep defending the price zone of 1.5300-1.5330.


Estimated projection targets for the recent bullish breakout are roughly located around 1.5600-1.5640.


On the other hand, conservative traders can wait for a low-risk BUY entry at retesting the price zone of 1.5300-1.5330 (backside of the broken channel and 50% Fibonacci level).


The material has been provided by InstaForex Company - www.instaforex.com

EUR/NZD analysis for February 18, 2015

EURNZDDaily18.png

EURNZDH418.png


Overview:


In our last analysis EUR/NZD was trading sideways around the price of 1.5140. We may see bullish reaction from our Fibonacci expansion 61.8% at the price of 1.5060, which is a good sign for potential euro recovery. We have a resistance around the price of 1.5200 (swing low like resistance). If the price breaks the level of 1.5200 in a high volume, we may see a possible testing of the level of 1.5350 (major Fibonacci retracement 38.2%). My advice is to watch for potential buying opportunities on the lows (buy on the dips).


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5174


R2: 1.5201


R3: 1.5244


Support levels:


S1: 1.5088


S2: 1.5061


S3: 1.5018


Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after retracement (buy on the dips).




The material has been provided by InstaForex Company - www.instaforex.com

EUR/NZD analysis for February 18, 2015

EURNZDDaily18.png

EURNZDH418.png


Overview:


In our last analysis EUR/NZD was trading sideways around the price of 1.5140. We may see bullish reaction from our Fibonacci expansion 61.8% at the price of 1.5060, which is a good sign for potential euro recovery. We have a resistance around the price of 1.5200 (swing low like resistance). If the price breaks the level of 1.5200 in a high volume, we may see a possible testing of the level of 1.5350 (major Fibonacci retracement 38.2%). My advice is to watch for potential buying opportunities on the lows (buy on the dips).


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5174


R2: 1.5201


R3: 1.5244


Support levels:


S1: 1.5088


S2: 1.5061


S3: 1.5018


Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after retracement (buy on the dips).




The material has been provided by InstaForex Company - www.instaforex.com

Gold analysis for February 18, 2015

GOLDDaily18.png

GOLDM3018.png


Overview :


Since our last analysis gold has been trading downwards. The price has tested the level of 1,202.32 in a volume below the average. According to the H4 time frame, we can test our Fibonacci retracement 61.8% at the price of 1,198.00 got almost tested. We are still waiting for larger activity on the market. Major resistance level is still around the price of 1,307.00 (swing high like resistance). Intraday resistance is at the price of 1,216.00 (swing low like resistance). According to the 30 minutes time frame, we can observe supply in an ultra high volume (selling climax), which is a sign that selling looks risky. My advice is to watch for potential buying opportunities on the lows (buy on the dips).


Daily Fibonacci pivot points:


Resistance levels :


R1: 1,228.96


R2: 1,236.84


R3: 1,249.60


Support levels :


S1: 1,203.44


S2: 1,195.96


S3: 1,182.80


Trading recommendations: Watch for potential buying opportunities after retracement (buy on the dips).


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of GBP/USD for February 18, 2015

gbpusdh4.png

Overview :



  • Due to the previous events, the price of the GBP/USD pair is still going to trade between the levels of 1.5337 (the weekly pivot point) and 1.5469. So it is recommended to be careful while making deals in this area. Therefore, it is necessary to wait until the sideways channel is passed through. Thus, the range of the GBP/USD pair will be around 132 pips in coming hours (1.5469 - 1.5337 = 0.0132). Also, it should be noticed that the weekly pivot point is going to act as a strong support on February 18, 2015. Then the market will probably show the signs of a bullish trend. In other words, buy deals are recommended above the level of 1.5337 with their first target at the level of 1.5449. From this point, the pair is likely to begin an ascending movement to the point of 1.5467 and further to the level of 1.5476 (the weekly resistance 1 has been set at the price of 1.5479). However, if the pair fails to pass through the level of 1.5480, the market will indicate a bearish opportunity below the strong resistance level of 1.5480. In this regard, sell deals are recommended lower than the 1.5480 level with the first target at 1.5428. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level of 1.5368 then to 1.5337.



The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/USD for February 18, 2015

eurusdh1.png


Overview :



  • On the H1 chart, the double top of the EUR/USD pair will be set at the level of 1.1448 and the double bottom is going to be set at 1.1269. Also, it should be noted that the price hit the weekly pivot point, the support 1, the support 2 and returned to the support 1 this week. Moreover, the major supports are going to be set at the levels of 1.1292 and 1.1269. So, according to the previous events, the price of the EUR/USD pair is going to move between 1.1292 and 1.1385. Hence, we expect a range of 275 pips this week. Furthermore, the level of 1.1367 is representing the weekly pivot point. Therefore, it will be very useful to sell below the prices of 1.1385 and 1.1367 in the long term with the first target at 1.1292 and it is continuing toward the the double bottom at 1.1269 again. However, the stop loss should be placed at 1.1470.



Intraday technical levels :



  • R2: 1.1465

  • R1: 1.1412

  • PP: 1.1370

  • S1: 1.1311

  • S2: 1.1269



The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/CAD for Febuary 18, 2015

General overview for 18/02/2015 11:00 CET


The downward wave development still does not looks completed in this market. However, the momentum now is diminishing and some sort of the upside rally might happen before another lower low is made. Please notice that the intraday support at the level of 1.2359 and technical support at the level of 1.2349 established a rather strong support zone for the market and any breakout lower will be definitely bearish.


Support/Resistance:


1.2783 - WR2


1.2590 - WR1


1.2506 - Weekly Pivot


1.2445 - Intraday Resistance


1.2359 - Intraday Support


1.2348 - Technical Support


1.2250 - 1.2231 - Projected Target Zone


Trading recommendations:


The bias is still bearish and the first TP level for the trades recommended this and last week has been missed by 10 pips so far. Nevertheless, the original TP at the level of 1.2349 is still in view.


usdcad_h1.jpgThe material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/JPY for Febuary 18, 2015

General overview for 18/02/2015 10:20 CET


The wave (a) blue developed exactly as anticipated, and now intraday corrective cycle in wave (b) blue is in progress. This cycle might develop in different pattern, but when it is completed, another high should be made in this market. Notice that the projected target is at the level of 137.64 and a reversal is expected from this zone.


Support/Resistance:


137.74 - Technical Resistance


136.71 - WR1


136.35 - Intraday Resistance


135.46 - Intraday Support


135.20 - Weekly Pivot


Trading recommendations:


Daytraders should consider opening buy orders from the current price levels with SL below the level of 135.45 and TP at the level of 136.71 with possible extension upward to the level of 137.64.


eurjpy_h1.jpgThe material has been provided by InstaForex Company - www.instaforex.com

#USDX technical analysis for February 18, 2015

The dollar index remains inside the triangle pattern consolidation; and traders should be very patient before deciding what to do. The best strategy is to wait for a break of the triangle boundaries before opening a position.


usdx.jpg


Green line = resistance


Blue line = support


The Dollar index continues to trade within the trading range of 95.25 and 93.40. The trend is neutral. There is no clear direction for the trend. I prefer to stay neutral and wait for a break out above or below the boundaries of the trading range before opening a position.


usdxd.jpg

Black lines = triangle pattern


The dollar index, as shown on the daily chart above, remains inside the triangle pattern. The price is above the kijun-sen but below the tenkan-sen. The triangle pattern is important and traders should follow the market once a breakout is made. Until then I prefer to stay neutral.


The material has been provided by InstaForex Company - www.instaforex.com

Gold technical analysis for February 18, 2015

Gold price made a strong downward reversal yesterday and broke our short-term support at $1,216. We expected gold price to move towards $1,200 once this support was broken and this is exactly what happened. Gold price stopped the decline just above $1,200. Now prices bounce, but this bounce is weak and I cannot rule out a new downward move to $1,190.


gold.jpg


Blue trend lines = bearish flag


Gold price is moving sideways with a slight positive slope. The price is most probably consolidating before the next move down. This could be a bearish flag pattern formation. This is a bearish sign. As long as gold price is below $1,225, the trend is bearish for the short term.


goldd.jpg


On the weekly chart above I show how the price got rejected at the weekly cloud resistance; and now it has broken below both the tenkan-sen and the kijun-sen indicators. If this week closes below the kijun-sen (yellow line), it will be a very bearish sign with high probability of this downward move for gold accelerating to new lows.


The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of major pairs for February 18, 2015

EUR/USD: This pair has kept on making its bullish attempt (an event that is marred with determined machination from bears). In any case, the possibility of the price going further upwards is higher than the possibility of the price going downwards.


1.png

USD/CHF: The USD/CHF pair has been in a bullish trend for the near term. The upward movement has been slow and steady while the price remains volatile as a result of frequent challenges from bears. The possibility of large or shallow pullbacks is now high, which may occur this week or next week.


2.png

GBP/USD: The fact that this market has gone down so far this week does not make the recent bullish outlook on it an invalid thing. The EMA 11 is above the EMA 12 and the RSI period 14 is almost above the level 50. Unless the price breaches the accumulation territory at 1.5250 to the downside, it is rational to expect that the market may go up.


3.png

USD/JPY: Like most other JPY pairs, this currency trading instrument has also broken upwards, resulting in a Bullish Confirmation Pattern on the chart. This has led to a renewal of the recent bullish bias and the supply levels at 119.50 and 120.00 could be attained again.


4.png

EUR/JPY: The EUR/JPY pair has assumed another lease of a bullish bias as expected. The price rose from the demand zone at 134.00, closing above the demand zone at 136.00. This is an upward movement of 200 pips and the price could reach a supply zone at 137.00. It is now illogical to seek short trades here.


5.pngThe material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/JPY for February 18, 2015

USDJPYM30.png

Fundamental overview:
USD/JPY is expected to trade in a higher range. USD/JPY is underpinned by the reduced safe-haven appeal of yen as global risk aversion subsides on news that Greece will ask for a loan-agreement extension on Wednesday. Besides, the European Central Bank claimed that it would not stop emergency funding for Greek banks this week. USD/JPY is also supported by the weaker yen sentiment after below-forecast Japan 4Q GDP growth data, higher U.S. Treasury yields (10-year at 2.145% versus 2.021% late Friday) amid speculation that the Federal Reserve could raise interest rates as soon as June and demand from Japan's importers. But USD/JPY gains are tempered by Japan's export sales; weaker dollar sentiment (ICE spot dollar index last 94.10 versus 94.43 early Tuesday) on fall in Empire State's business conditions index down to 7.78 in February from 9.95 in January (versus forecast 10.0), and surprise drop in U.S. NAHB housing market index to 55 in February from January's 57 (versus forecast for rise to 58).


Technical comment:
The daily chart is mixed as MACD is bullish, but stochastics is neutral.


Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 119.50 and the second target at 119.90. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 118.60. A break of this target would push the pair further downwards, and one may expect the second target at 118.25. The pivot point is at 118.85.


Resistance levels:

119.50

119.90

120.20

Support levels:

118.60

118.25

117.95


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/CHF for February 18, 2015

USDCHFM30.png

Fundamental overview:
USD/CHF is expected to trade in a higher range. It is supported by the franc sales on cross trades versus major currencies, negative Swiss interest rates, and threat of Swiss National Bank CHF-selling intervention. SNB president Thomas Jordan warned Tuesday the central bank is prepared to conduct currency-market interventions as the franc remains overvalued. But USD/CHF gains are tempered by the weaker dollar sentiment.


Technical comment:
The daily chart is positive-biased as MACD and stochastics are bullish, although the latter is at overbought levels.


Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.94 and the second target at 0.9420. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9285. A break of this target would push the pair further downwards, and one may expect the second target at 0.9240. The pivot point is at 0.9310.


Resistance levels:
0.94

0.9420

0.9445


Support levels:

0.9285

0.9240

0.9205


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of NZD/USD for February 18, 2015

1424233569_NZDUSDM30.png\


Fundamental overview:
NZD/USD is expected to consolidate with a bullish bias after hitting a three-week high at 0.7554 on Tuesday. NZD sentiment is boosted by the 10.1% increase in Fonterra's GDT Price Index and 13.7% rise in average price for whole milk powder to $3,272/mt at latest Global Dairy Trade auction. NZD/USD is also supported by the weaker dollar sentiment, Kiwi demand on buoyant NZD/JPY cross amid reduced risk aversion and weak yen sentiment as well as Kiwi demand on soft AUD/NZD cross.


Technical comment:

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


Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.7590 and the second target at 0.7625. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.7440. A break of this target would push the pair further downwards, and one may expect the second target at 0.74. The pivot point is at 0.7470.


Resistance levels:

0.7590

0.7625

0.7685



Support levels:


0.7440

0.74

0.7345


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of GBP/JPY for Feburary 18, 2015

GBPJPYM30.png

Fundamental overview:
GBP/JPY is expected to trade in a higher range. It is underpinned by the improved EUR sentiment after reports that Greece will ask for a loan-agreement extension on Wednesday, receding risk aversion and demand from Japan's importers. But GBP/JPY gains are tempered by Japan's export sales. The sterling sentiment is dented by drop in U.K. annual CPI to more-than-50-year low of +0.3% in January from +0.5% in December (in line with the forecast).


Technical comment:
The daily chart is mixed as bullish outside-day-range pattern was completed on Tuesday, MACD is bullish but stochastics is bearish near overbought levels.


Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 183.65 and the second target at 184.20. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 181.25. A break of this target would push the pair further downwards, and one may expect the second target at 180.90. The pivot point is at 182.


Resistance levels:

183.65

184.20

184.95


Support levels:

181.25

180.90

180.15


The material has been provided by InstaForex Company - www.instaforex.com

Forecast and trading recommendations on EUR/USD and GBP/USD for February 18, 2015

EUR/USD


In five days, the talks between Greece and the Eurogroup failed twice. The ECB has agreed to fund 60 billion euros on February 5. Today, they will reassess. Eurogroup President Dijsselbloem said that until Friday Greece had to request an extension, otherwise the bailout would expire at the end of the month. If Greece exits from the eurozone, the single European currency will be dismantled.


The US dollar fell against the euro after the weak manufacturing data. The headline general business conditions index edged down two points to 7.8. The new orders index fell five points to 1.2.


Technical view. The pair has weekly resistance at 1.1535. The trading pattern is framed between 1.1535 and 1.11. At yesterday's session, the pair breached the previous swing high, but was unable to close above it. On the h4 chart, we can observe a minor inverse pattern. The prices are facing strong resistance near the neckline. The overall trend favors bears. The recent development in Greece supported the euro and the weak US dollar supported the pair. We recommend fresh buying above 1.1460 with the targets at 1.1500 and 1.1530. We can expect strong momentum only above 1.1535. Today, we expect high volatility.


Resistance: 1.1460, 1.1500, 1.1535.


Support: 1.1390, 1.1365, 1.1320.


We recommend selling with sl at 1.1455.


Buying above 1.1460.


EURUSDH4.png

GBP/USD


The pound sterling. The Consumer Prices Index fell to 0.3% in January 2015, down from 0.5% in December 2014. Falling prices for motor fuels and food were the main contributors to the slowdown in the inflation rate. The oil prices sank to a 6-year low.


Today, traders are keeping an eye on BoE monetary policy. From the US side, US PPI report and building permits are due.


Technical view. The pound edged lower against the US dollar. In intraday, the cable broke below 50Dsma, but at the end of the day it managed to close above it. The cable managed twice to hold the 50Dsma. On the hourly chart, the prices were trading and closed below hourly moving averages. We recommend selling only below 1.5300. The prices made a minor support base between 1.5210 and 1.5195. If the price breaks out and closes below 1.5195, the pair can extend correction towards 1.5140, 1.5080, and 1.4990. As of now, we are bullish in the near term. This view is invalid, in case if the prices close below 1.5190.


Resistance: 1.5369, 1.5402, 1.5440.


Support: 1.5340, 1.5300, 1.5210.


We recommend selling below 1.5300 with the targets at 1.5250 and 1.5210.


Buying above 1.5400 with the targets at 1.5440, 1.5470, 1.5540, and 1.5600.


1424229436_GBPUSDH4.png


The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of USDX for February 18, 2015

The USDX is still finding support at the level of 94.18 and the bullish momentum in a general term is still alive on this instrument on the daily chart. Indeed, as we noted in past articles, the 200 SMA is still bullish and the USDX is currently inside a bullish pattern formation. From the technical view, we're still looking for upside targets at the 95.45 and 96.78 levels.


USDXDaily.png


During the session om Tuesday, the USDX traded sideways between the range of the 94.38 and 94.02 levels. Currently, we recommend following the bearish bias, because the instrument is below the 200 SMA, which is also bearish. The support level of 94.02 needs to be broken in order that the USDX could reach 93.62 in a very short term.


USDXH1.png

Daily chart's resistance levels: 95.45 / 96.78


Dailychart's support levels: 94.18 / 93.02


H1 chart's resistance levels: 95.16 / 95.57


H1 chart's support levels: 94.87 / 94.38




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 94.02, take profit is at 93.62, and stop loss is at 94.42.


The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of GBP/USD for February 18, 2015

It seems that the GBP/USD pair is having lack of bullish momentum on the daily chart, because during yesterday's session, the pair traded in favor of the bearish bias and still has not reached the resistance level of 1.5491, which is the closest upside target. Besides, the GBP/USD pair formed a fractal next to that resistance zone and we should be cautious with more falls on this pair.


GBPUSDDaily.png

As we can see it on the H1 chart, the support level of 1.5348 remains very solid. Eventually, the GBP/USD pair could find strong support and try to rise to the resistance level of 1.5378. On the other side, we have a 200 SMA that is very close to the current price of the GBP/USD pair. This zone could offer strong dynamic support in the coming hours or days.


GBPUSDH1.png

Daily chart's resistance levels: 1.5491 / 1.5761


Dailychart's support levels: 1.5247 / 1.5025


H1 chart's resistance levels: 1.5378 / 1.5413


H1 chart's support levels: 1.5348 / 1.5301




Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5378, take profit is at 1.5413, and stop loss is at 1.5297.


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/USD for February 18, 2015



!EURUSD.jpg

When the European market opens, some economic news will be released such as German 10-y Bond Auction. The US will release a number of economic reports such as the Industrial Production m/m, Capacity Utilization Rate, Housing Starts, Core PPI m/m, PPI m/m, and Building Permits. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1459.

Strong Resistance:1.1462.

Original Resistance: 1.1441.

Inner Sell Area: 1.1430.

Target Inner Area: 1.1403.

Inner Buy Area: 1.1376.

Original Support: 1.1365.

Strong Support: 1.1354.

Breakout SELL Level: 1.1347.





The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/JPY for February 18, 2015

!USDJPY.jpg In Asia, Japan will release the BOJ Press Conference and Monetary Policy Statement. The US will also release some economic reports such as Industrial Production m/m, Capacity Utilization Rate, Housing Starts, Core PPI m/m, PPI m/m, and Building Permits. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:


Resistance. 3: 119.90.

Resistance. 2: 119.67.

Resistance. 1: 119.44.

Support. 1: 119.15.

Support. 2: 118.92.

Support. 3: 118.68.





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. The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis and trading recommendations on Gold for February 18, 2015

The yellow metal extended its losses at yesterday's session. The metal broke below $1,216.00, which triggered panic selling from the technical view. China is heading into a holiday period ahead of the Lunar New year. Before this holiday period, physical buying is also moderate. We recommended selling at $1,229.00 with the targets at $1,207.00, $1,204.00, and $1,199.00. The metal made a low at $1,203.40. If the prices break below $1,200.00, gold can extend its fall to $1,195.00 and even $1,185.00. A daily close below $1,185.00 leads to $1,170.00, $1,167.00, and $1,150.00. We recommend fresh selling below $1,199.00 with the rest of targets. The weekly 61.8 fib level is set at $1,198.75 and the 80.0 fib level is placed at $1,1667.00.


On the h4-chart, the prices are closed and trading above hourly moving averages. The prices are expanding lower swings on the hourly chart. Intraweek resistance exists at $1,227.00. Intraday resistance exists at $1,222.00.


Resistance: $1,212.00, $1,217.00, $1,227.00.


Support: $1,199.00, $1190.00, $1,185.00.


Selling below $1,198.00.


GOLDH4.pngThe material has been provided by InstaForex Company - www.instaforex.com