Technical analysis of EUR/USD for February 24, 2015

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When the European market opens, some economic news will be published such as Belgian NBB Business Climate, Final Core CPI y/y, Final CPI y/y, and German Final GDP q/q. The US will disclose a number of economic reports too, such as the Richmond Manufacturing Index, Mortgage Delinquencies, CB Consumer Confidence, Flash Services PMI, and S&P/CS Composite-20 HPI y/y. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1393.

Strong Resistance:1.1386.

Original Resistance: 1.1375.

Inner Sell Area: 1.1364.

Target Inner Area: 1.1337.

Inner Buy Area: 1.1310.

Original Support: 1.1299.

Strong Support: 1.1288.

Breakout SELL Level: 1.1281.



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

EUR/NZD analysis for February 25, 2015

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Overview:


In our last analysis EUR/NZD was trading downwards. Resistance level at the price of 1.5200 was held successfully and it caused price to start with downward movement. Our Fibonacci retracement 61.8% at the price of 1.5050 is broken, so we may expect lower price. We have the first support level at the price of 1.4945. I have placed Fibonacci expansion to find potential support levels and have got Fibonacci expansion 100% at the price of 1.4865. Anyway, the mid-term selling EUR/NZD at this stage looks risky since we have major long-term support around the price of 1.4785. My advice is to watch for potential bullish opportunities with better conditions. Any larger reaction from our support levels may confirm further phase.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5208


R2: 1.5253


R3: 1.5325


Support levels:


S1: 1.5063


S2: 1.5018


S3: 1.4945


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


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Gold analysis for February 25, 2015

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Overview :


Since our last analysis gold has been trading upwards. As we expected, the price has tested the level of 1,211.71 in an average volume. We can observe successful rejection from our Fibonacci retracement 61.8% at the price of 1,200.00. Our Fibonacci retracement 61.8% at the price of 1,200.00 is critical for gold and it seems that the price cannnot break that area. My advice is to watch for potential buying opportunities.We have resistance level around the price of 1,235.00 (Fibonacci retracement 38.2%). According to the 4H time frame, we can observe demand in an ultra high volume on the background.


Daily Fibonacci pivot points:


Resistance levels :


R1: 1,202.73


R2: 1,206.13


R3: 1,211.63


Support levels :


S1: 1,191.73


S2: 1,188.33


S3: 1,182.83


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




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Technical analysis of EUR/JPY for Febuary 25, 2015

General overview for 25/02/2015 13:00 CET


This market still trades inside the neutral zone and around the weekly pivot at the level of 1.2496. The consolidation takes a little longer than anticipated, but the bias is still bullish and the market should violate the upper golden channel line soon. Please, notice that currently the market is making wave b purple and this could take much more time than a usual corrective cycle.


Support/Resistance:


137.25 - 137.64 - Projected Target Zone


136.90 - WR1


135.58 - Intraday Resistance


135.21 - Weekly Pivot


134.43 - Intraday Support


134.21 - WS1


133.55 - Intraday Support


Trading recommendations:


The market is still trading inside the range zone, but daytraders should consider opening buy orders only when the level of 135.88 is violated with relatively tight SL (20-30 pips) and TP at the level of 137.25 - 137.64. Please, notice that the wave b purple might get more complex and time consuming, so it is safer to wait for an impulsive breakout above the level of 135.88 to trade it. Patience, please.


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

Technical analysis of USD/CAD for Febuary 25, 2015

General overview for 25/02/2015 12:40 CET


The long-term scenario was relabeled and updated. The first most important conclusion is that the market has not completed the upward wave progression and there are some waves missing so far. This means the larger-term outlook is still bullish for this pair until the wave development is finished.


Currently the market is in wave (4) corrective cycle and it should resume the rally when the correction is completed. According to the intraday wave progression, there is only wave (e) blue of wave (4) black missing to complete the triangle pattern. If, however, this pattern is invalidated (breakout below the technical support at the level of 1.2349), the alternate corrective scenario is in play.


Support/Resistance:


1.2349 - Technical Support


1.2420 - Intraday Support


1.2435 - WS1


1.2477 - Intraday Resistance


1.2496 - Weekly Pivot


Trading recommendations:


The buy orders from yesterday hit the anticipated TP level, and the market sharply reversed to the downside. Currently, after the intraday sell-off the buy zone is preferred again with SL bellow the level of 1.2349.


usdcad_h42.jpgusdcad_h43.jpgusdcad_d1.jpgusdcad_h41.jpgusdcad_h1.jpgThe material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of GBP/USD for February 25, 2015

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Overview :



  • Due to the previous events, the price of GBP/USD pair is still trading between the levels of 1.5466 and 1.5606. So, it is better to be careful at this range area around the level of 1.5466 (61.8% of Fibonacci retracement levels). Therefore, first step is to wait for a period of tight sideways range market before deciding to deal. Then, the market is probably going to start showing the signs of bullish market again at the same price of 1.5466. In other words, it will be a good sign to buy above the support that sets at the price of 1.5466 with a first target of 1.5551 and it will climb towards the first resistance at 1.5606. However, if the the pair could not break this resistance, the market will probably indicate a bearish opportunity below 1.5606 (it should be noted that the 78.6% of Fibonacci retracement levels is 1.5606 on the H4 chart), then the level is going to act as strong resistance. So it will be a good sign to sell in the short term below the level of 1.5606 with the first target of 1.5495 and it is going to call for downtrend in order to continue a bearish market towards 1.5460.



Observations :



  • A strong support will be set at the level of 1.5466.

  • The resistance has been already placed at the point of 1.5606.

  • We expect a new range of 273 pips at least this week.

  • Please, check out the market volatility before investing because the price may have already been reached and scenarios become invalidated.



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Technical analysis of EUR/JPY for February 25, 2015


Technical outlook and chart setups:


The EUR/JPY pair has been holding at the levels of 135.00 until now, and a break higher is expected soon. It is recommended to remain long with risk at the levels of 132.50. Immediate support is seen around the levels of 133.54 followed by 132.50, 130.00 and lower, while resistance is seen at the levels of 137.50-138.00 followed by 142.50 and higher, respectively. Looking into the larger wave structure, the current rally is expected to reach at least 137.50-138.00, and bulls are expected to remain in control until prices stay above the levels of 132.50.




Trading recommendations:


Remain long for now. Stop is 132.50, target is at 137.50/138.00.


Good luck!




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Technical analysis of AUD/USD for February 25, 2015

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Overview :



  • The AUD/USD pair has risen from the level of 0.7822 and has extended further to as high as 0.7880 (38.2% of Fibonacci retracement levels) today. The pair closed at 0.7865 yesterday. The price was placed above 23.6% of Fibonacci retracement levels two days ago. Moreover, it should be noted that the price has formed a strong supports at 0.7791 and 0.7860. Furthermore, this strong level is still moving between 23.6% of Fibonacci retracement levels and 50% on the H4 chart. Hence, market will probably start showing the signs of bullish market again in order to indicate a bullish opportunity from the level of 0.7791 to 0.7860 with targets towards the strong resistance around the spot of 0.7918 - 0.7959 (50% of Fibonacci retracement levels). Meanwhile, the bulls were forced to pull back at the level of this area; therefore, this level will form a strong resistance at 0.7960 in order to indicate a bearish opportunity below this resistance, so it will be a good sign to sell below the price of 0.7960 with a target at 0.7895 and it might resume to 0.7852 in the short term.



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#USDX technical analysis for February 25, 2015

The sideways consolidation continues. No clear trend or signal yet. Traders should be cautious and better wait for a clear break out. Resistance at 95 was not broken as price was not able to break above it yet another day.



Green line = resistance


Blue line = support


The Dollar index continues to trade within the trading range between 95.25 and 93.40. There is still no clear trend. The index is trading around the Ichimoku cloud and I believe that soon we should see a new trend start. This consolidation will soon end and traders will then have to follow the break out signal.



Black lines = triangle pattern


The Dollar index remains inside the triangle pattern. Price is below the tenkan-sen and above the kijun-sen. Soon we will see a triangle breakout. The triangle boundaries are at 95 and at 94.Until we see a breakout, I remain neutral. The longer-term trend remains bullish.


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Technical analysis of Silver for February 25, 2015


Technical outlook and chart setups:


Silver has bounced off the fibonacci 0.618 support of the rally between $14.65 and $18.50 levels, at $16.10 levels as depicted here. The metal is expected to hold $16.10 levels support and resume rally towards $20.00 and $20.84 respectively. It is highly recommended to remain long for now and also look to add further positions, with risk at $15.50 levels. Immediate support is $16.10 (interim), followed by $15.50 and lower respectively while resistance is seen at $17.50 (interim), $18.50 and higher respectively. Silver bulls are poised to be gearing up for an extensive rally into $21.00 at least


Trading recommendations:


Remain long, stop at $15.50, the target is open.


Good luck!




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Daily analysis of major pairs for February 25, 2015

EUR/USD: This currency trading instrument has not assumed any significant direction this week. However, the more probable scenario is that the price would go upwards when momentum does return to the market.The first target is at the resistance line of 1.1450.


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USD/CHF: The USD/CHF pair is also trading in an equilibrium phase as the price gallivants around the resistance level at 0.9500. The outlook is bullish in the near term: the EMA 11 is above the EMA 56 and the Williams’ % Range period 20 is poised to move into the overbought region, in case the buying pressure continues. On the other hand, any development of serious buying pressure in the EUR/USD pair would cause USD/CHF to tumble.


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GBP/USD: In this market, the distribution territory at 1.5450 has already been challenged more than once. While the price may go as far as another distribution territory at 1.5500, the GBP is more likely to see a limited bullish movement this week. A pullback is possible anytime this week.


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USD/JPY: The USD/JPY market remains dicey as bulls and bears engage in a tight struggle. There is a supply level at 120.00 and a demand level at 118.00. Eventually, the price would close above the supply level at 120.00 or close below the demand level at 118.00. Really, a close above that supply zone is more likely.


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EUR/JPY: This market is currently in an equilibrium phase and it would be OK to wait until there is a break below the demand zone at 134.00 or a break above the supply zone at 136.50. The latter action is more likely, because bulls are ready to fight against any southward plunge in the near term.


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Elliott wave analysis of EUR/NZD for February 25 - 2015


Technical outlook and chart setups:


Gold is looking up to rally towards fresh highs at $1,400.00 levels in the coming sessions. The metal has finally bottomed out after forming lows at $1,190.00 levels twice in a row, producing a tweezer bottom and following up well with a bullish candle in formation right now. Trading at $1,209.00, the metal is seeking to clear above $1,225.00 as initial target, that could set it up to rally further. Also, the entire structure is looking like an inverted head and shoulder reversal, with potential right shoulder being carved out at $1,190.00 levels. It is strongly recommended to hold long positions and look to add on dips, with risk at $1,170.00 levels. Immediate support is seen at $1,190.00 levels (interim), followed by $1,170.00, $1,030.00 and lower while resistance is seen at $1,225/35.00 levels (interim), followed by $1,280.00, $1,307.00 and higher respectively.


Trading recommendations:


Remain long, stop at $1,170.00, the target is open.


Good luck!




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Elliott wave analysis of EUR/JPY for February 25 - 2015

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Technical summary:


We have been locked inside a range between 133.51 and 135.91 the last couple of days. The question of course is whether wave (iv) ended at 136.69 or one more rally higher towards 137.65 is needed? As long as support at 133.51 protects the downside, we will let bulls have the benefit of the doubt. That said, only a break above 135.91 will confirm the rally towards 137.65 to end wave (iv). If however, support at 133.51 is broken, the the count will shift immediately to a finished wave (iv) at 136.69 and wave (v) lower towards 125.98 is developing.


Trading recommendations:


We are short EUR from 133.90 and will keep our stop at 136.00. EUR should only be sold near 137.65 or upon a break below support at 133.51.


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Technical analysis and trading recommendations on Gold for February 25, 2015

At yesterday's session, the metal fell to $1,190.50, but managed to close above $1,200.00. The metal fell below $1,200.00 thrice and managed to close above it. It's a good sign. Yellen suggests the first rate hike may not happen before the second half of the year. The US consumer confidence index declined in February after increasing in January. The Index now stands at 96.4, down from 103.8 in January. The yellow metal is hovering at a seven-week low at $1,200.00. In India RBI lifted a ban on gold imports. Nominated banks get permission to import gold on a consignment basis. We expect the imports for February to increase by 40 odd tonnes. On a weekly closing basis, bulls must close above $1,217.00. The intraday support exists at $1,196.00. The weekly resistance is set between $1,217.00 and $1,223.00. Intraday resistance is at $1,210.00. We recommend fresh buying above 1210.00 with the targets at 1212.00, 1215.00, and 1217.00. Besides, we recommend fresh selling below $1,196.00 with the targets at $1,190.00, $1,185.00, and $1,180.00. A daily close below $1,185.00 leads to $1,170.00, $1,167.00, and $1,150.00.


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Technical analysis of EUR/USD for February 25, 2015

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When the European market opens, no economic news will released. However, the US will publish the Crude Oil Inventories and New Home Sales. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1402.

Strong Resistance:1.1396.

Original Resistance: 1.1385.

Inner Sell Area: 1.1374.

Target Inner Area: 1.1347.

Inner Buy Area: 1.1320.

Original Support: 1.1309.

Strong Support: 1.1298.

Breakout SELL Level: 1.1291.





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 of USD/JPY for February 25, 2015

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In Asia, Japan will not release any economic data. However, the US will release Crude Oil Inventories and New Home Sales. So there is a big probability 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: 119.36.

Resistance. 2: 119.13.

Resistance. 1: 118.90.

Support. 1: 118.82.

Support. 2: 118.39.

Support. 3: 118.15.

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 of USD/JPY for February 25, 2015

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In Asia, Japan will not release any economic data. However, the US will publish Crude Oil Inventories and New Home Sales. So there is a big probability 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: 119.36.

Resistance. 2: 119.13.

Resistance. 1: 118.90.

Support. 1: 118.82.

Support. 2: 118.39.

Support. 3: 118.15.





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

Daily analysis of USDX for February 25, 2015

On the daily chart, we are still watching consolidation moves in the general bullish bias, as the USDX is trying to reach higher levels, because during the last days, this instrument moved sideways. By the way, in the price action, we do not see intentions of the bearish force to take the current ride of the USDX, as we're still bullish on the US Dollar.


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During the session on Tuesday, the USDX performed a strong pullback at the resistance level of 94.87, where a few days ago it was rejected too. Anyway, we're watching that the instrument is trying to reach the 200 SMA on the H1 chart, where it is likely to perform a rebound, as this moving average could act as dynamic support in the near term.


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Daily chart's resistance levels: 95.45 / 96.96


Dailychart's support levels: 94.18 / 93.02


H1 chart's resistance levels: 94.87 / 95.07


H1 chart's support levels: 94.38 / 94.02




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 94.87, take profit is at 95.07, and stop loss is at 94.65.


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Daily analysis of GBP/USD for February 25, 2015

Tuesday was a relatively slow session for the GBP/USD pair, at least as we can see on the daily chart, because the pair is still trying to break the resistance level of 1.5491. Now, it's just advisable to wait for a solid bullish pattern formation. Below that resistance zone, it's possible more corrective moves in favor of the current upward bias.


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On the H1 chart, the GBP/USD pair moved during yesterday sideways, as the pair is trying to win positions above the resistance level of 1.5455 in order to reach the zone of 1.5516. At the moment, there are fractals formed on the bullish side. That's why we recommend caution when you think to place buy orders at current levels.


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Daily chart's resistance levels: 1.5491 / 1.5761


Dailychart's support levels: 1.5247 / 1.5025


H1 chart's resistance levels: 1.5455 / 1.5516


H1 chart's support levels: 1.5413 / 1.5378




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 1.5455, take profit is at 1.5516, and stop loss is at 1.5394.


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Technical analysis of USD/JPY for February 24, 2015

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Fundamental overview:


USD/JPY is expected to trade in a higher range. It is undermined by selling the yen crosses amid diminished risk appetite (VIX fear gauge rose 1.82% to 14.56, S&P 500 closed 0.03% lower at 2,109.66, DJIA off 0.13% at 18,116.84 overnight) as oil prices extend Friday's losses. The pair is also influenced by the U.S. existing home sales fell 4.9% on-month to 4.82 million in January (versus forecast -1.2% to 4.98 million), while caution prevails ahead of Fed Chairwoman Janet Yellen's presentation of Monetary Policy Report to the U.S. Senate Banking Committee at 15:00 GMT. USD/JPY is also weighed by the lower U.S. Treasury yields (10-year at 2.059% versus 2.133% late Friday) and the Japanese exports. But USD/JPY losses are tempered by the demand from Japan's importers and the ultra-loose Bank of Japan's monetary policy and broadly firmer dollar undertone (ICE spot dollar index last 94.55 versus 94.30 early Monday), despite weak U.S. existing home sales and a drop in Dallas Fed manufacturing index to -11.2 in February from -4.4 in January (versus forecast -5.5).


Technical comment:
The daily chart is mixed as the 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 119.90 and the second target at 120.35. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 118.75. 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 119.


Resistance levels:

119.90

120.35

120.75

Support levels:

118.75

118.25

117.95


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Technical analysis of USD/CHF for February 24, 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 and broadly firmer dollar undertone (ICE spot dollar index last 94.55 versus 94.30 early Monday) despite the weak U.S. existing home sales and a drop in Dallas Fed manufacturing index to -11.2 in February from -4.4 in January (versus forecast -5.5), the negative Swiss interest rates and the threat of the Swiss National Bank CHF-selling intervention.


Technical comment:
The daily chart is mixed as the MACD is bullish, five and 15-day moving averages are advancing but stochastics is bearish 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 0.9535 and the second target at 0.9580. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9405. A break of this target would push the pair further downwards, and one may expect the second target at 0.9365. The pivot point is at 0.9440.


Resistance levels:
0.9535

0.9580

0.9625


Support levels:

0.9405

0.9365

0.9325


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Technical analysis of NZD/USD for February 24, 2015

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Fundamental overview:


NZD/USD is expected to trade in a lower range. It is undermined by the broadly firmer dollar undertone, the kiwi sales on the soft NZD/JPY cross amid subdued investor risk appetite and weak commodity prices. But the NZD/USD downside is limited by the kiwi demand on the soft AUD/NZD cross and NZD-USD interest differential (10-year gap last at 131 basis points).


Technical comment:

The daily chart is mixed as the MACD is bullish, but stochastics is bearish at overbought levels.


Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 0.7415. A break of this target will move the pair further downward to 0.7390. The pivot point stands at 0.7485. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 0.7505 and the second target at 0.7535.


Resistance levels:

0.7505

0.7535

0.7575



Support levels:


0.7415

0.7390

0.7345


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Technical analysis of GBP/JPY for Feburary 24, 2015

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Fundamental overview:
GBP/JPY is expected to trade in a higher range. It is undermined by the weaker euro sentiment after disappointing Germany Ifo business climate data for February, flows to the safe haven yen amid diminished risk appetite and Japan's exports. But the GBP/JPY losses are tempered by demand from the Japanese importers.


Technical comment:
The daily chart is mixed as theMACD is bullish, but stochastics is in bearish mode, five-day moving average is meandering sideways above ascending 15-day moving average.


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 185.25 and the second target at 185.65. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 182.90. A break of this target would push the pair further downwards, and one may expect the second target at 182.50. The pivot point is at 183.50.


Resistance levels:

185.25

185.65

186.15


Support levels:

182.90

182.50

182


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