EUR/NZD analysis for February 26, 2015

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Overview:


In our last analysis EUR/NZD was trading downwards. The price has tested the level of 1.4923. The 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 a lower price. 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 the 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: 1.5132


R2: 1.5169


R3: 1.5229


Support levels:


S1: 1.5013


S2: 1.4976


S3: 1.4917


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 26, 2015

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GOLDH426.png


Overview :


Since our last analysis gold has been trading upwards. As we expected, the price has tested the level of 1,219.18 in a volume above the average. We can observe successful rejection from our Fibonacci retracement 61.8% at the price of 1,200.00 and it caused price to start with upward movement. 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 a volume above the average and successful rejection form intraday Fibonacci retracement 38.2% at the price of 1,203.00.


Daily Fibonacci pivot points:


Resistance levels :


R1: 1,208.83


R2: 1,211.43


R3: 1,215.63


Support levels :


S1: 1,200.73


S2: 1,197.33


S3: 1,193.63


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


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GBP/USD intraday technical levels and trading recommendations for February 26, 2015

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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 provided support for the pair few weeks ago.


The H4 chart showed a transition phase into a sideways 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 did not provide enough RESISTANCE.


The 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:


A valid SELL entry can be taken at retesting of the price level of 1.5550. SL should be located above 1.5600. TP levels to be placed at 1.5480, 1.5360 and finally at 1.5280.


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GBP/USD intraday technical levels and trading recommendations for February 26, 2015

1424947328_gbpdaily.pnggbph4.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 provided support for the pair few weeks ago.


The H4 chart showed a transition phase into a sideways 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 did not provide enough RESISTANCE.


The 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:


A valid SELL entry can be taken at retesting of the price level of 1.5550. SL should be located above 1.5600. TP levels to be placed at 1.5480, 1.5360 and finally at 1.5280.


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

Technical analysis of AUD/USD for February 26, 2015


Technical outlook and chart setups:


The AUD/USD pair has resumed its rally towards the levels of 0.8030 and 0.8300, subsequently, as depicted here. Bulls seem to have regained control for now and immediate support is seen at the levels of 0.7740 and 0.7650-60, while resistance is seen at the levels of 0.8020 and 0.8300, respectively. A push above the 0.7900 handle would bring the pair in the buy zone of the resistance line and rally is expected to accelerate. It is hence recommended to remain long and also to look to add further positions with risk below the levels of 0.7700. A push through the the level of 0.8300 would confirm that the AUD/USD pair has reversed its trend for times to come.


Trading recommendation:


Remain long. Stop is at 0.7600, target is 0.8300.


Good luck!




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USD/CAD intraday technical levels and trading recommendations for February 26, 2015

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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 a 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 yet.


Note that successive lower highs are being established on the DAILY chart.


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 a 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).


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USD/CAD intraday technical levels and trading recommendations for February 26, 2015

cadweekly.png caddaily.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 a 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 yet.


Note that successive lower highs are being established on the DAILY chart.


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 a 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).


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EUR/AUD intraday technical levels and trading recommendations for February 26, 2015

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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 was expressed.


Confirmation of the reversal pattern required DAILY fixation below the price level of 1.4500, which corresponds to the most recent bottom. This has already occurred yesterday.


If the current daily closure persists below 1.4500, initial projection target would be located around 1.4300 and then 1.4270 where the lower limit of the newly-established H4 channel is located.


Note the bullish spike of today's daily candlestick. It represents the failure of bulls to gather enough momentum to push above 1.4500 enhancing the bearish side of the market.


Trade Recommendations:


DAILY closure below 1.4500 indicates a low-risk SELL entry. TP levels would be located around 1.4300 and 1.4270. SL should be set as daily closure again above 1.4500.


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#USDX technical analysis for February 26, 2015

The US Dollar index continues to trade inside the trading range. There is nothing new to add to our analysis. Traders should better wait and be neutral. I prefer opening a position only after a breakout has occurred. I prefer to open a long position if the price's breakouts as the longer-term trend remains bullish.


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Green line = resistance


Blue line = support


The US Dollar index continues to trade around the Ichimoku cloud and inside the trading range of 95 and 93.40. The trend is neutral. There is no clear direction in the market right now and that is why I prefer to be neutral and wait.


usdxd.jpg

Black lines = triangle pattern


The Dollar index continues to trade between the tenkan-sen and the kijun-sen and inside the triangle pattern. The trend is neutral. The price is approaching the edge of the triangle and the distance between the boundaries is closing. This means that soon we shall see a breakout above or below it. If we break below the triangle we should expect a push towards 93. If we break above it, we should expect to see new highs.


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Gold technical analysis for February 26, 2015

Gold price is bouncing towards $1,220. The medium-term trend remains bearish as the price is below $1,233 and below the Ichimoku cloud resistance. I believe it is more probable to see a push towards $1,220 and a downward reversal from that level. Critical support is at $1,200.


goldh4.jpg

Black line = resistance


Red line = support


Gold price is making higher highs and higher lows in the short term. The price is moving higher towards the Ichimoku cloud and the trend line resistance. I expect to see a rejection at that level and a downward reversal. If, however, the resistance at $1,220-$1,230 is broken, I could not rule out a stronger upward move towards $1,300.


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Red line = support


Gold price is below the tenkan-sen and the kijun-sen. As I mentioned yesterday, we could see a bounce towards the kijun-sen at $1,220 as a test of this bearish trend. As long as the price is below the red line tenkan-sen I remain bearish.


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Intraday technical levels and trading recommendations for NZD/USD for February 26, 2015

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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.


Recently, the NZD/USD pair managed to break above 0.7430. This price level is expected to provide significant SUPPORT for the pair at retesting.


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The H4 chart showed an inverted Head and Shoulders pattern that originated off the price level of 0.7200 (the most recent low). Bullish fixation above the neck-line confirmed the reversal pattern earlier this week.


Estimated bullish projection target for the reversal pattern is located around the price level of 0.7676.


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


Hence, the price zone of 0.7630-0.7670 should be watched for price action as low-risk SELL entries can be taken at retesting. Stop Loss should be placed above 0.7700.


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Technical analysis of GBP/USD for February 26, 2015


Technical outlook and chart setups:


The GBP/USD pair has been rallying steadily since the levels of 1.5000 as seen here on the H4 chart. The upside potential still remains at the levels of 1.5650 as depicted. It is recommended to initiate long positions on the pair around the levels of 1.5450 with an upside target of the levels of 1.5650. Immediate support is seen at 1.5325 followed by 1.5200, 1.5025 and lower, while resistance is seen at the levels of 1.5620 followed by 1.5800 and higher, respectively. Bulls are poised to remain in control util prices stay above the levels of 1.5320 and, subsequently, 1.5200. A meaningful correction can be expected at 1,5650 and higher.


Trading recommendations:


Remain flat for now. Look to buy around 1.5450.


Good luck!




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Intraday technical levels and trading recommendations for EUR/USD for February 26, 2015

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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).


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Bearish breakout below 1.2000 and 1.1900 (prominent psychological SUPPORT) allowed a 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 EUR/USD pair off (R1 at 1.1550 and R2 at 1.1700). However, the EUR/USD bulls are not showing enough bullish momentum.


Instead, a bearish Flag pattern is being established on the daily chart. DAILY fixation below the price level of 1.1260 (recent bottom) confirms this bearish pattern.


Conservative traders can wait for a low-risk SELL entry at retesting of the price zone of 1.1570-1.1590.


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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 (recent high).


On the other hand, risky traders can wait for DAILY closure below 1.1260 (recent DEMAND level). This will probably indicate a bearish visit towards the WEEKLY low around 1.1110.


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Technical analysis of USD/CHF for February 26, 2015


Technical outlook and chart setups:


The USD/CHF pair has been rallying steadily since the pair dropped to the levels of 0.7200 levels January 15, 2015. The pair has almost reached the resistance at Fibonacci 78.6 at the levels of 0.9580 remaining shy by just 50 pips. It is recommended to initiate short positions around the levels of 0.9580-0.960, if prices reach there. Immediate temporary support is seen at the levels of 0.9369 followed by 0.9290, 0.91775 and lower, while resistance is seen at 0.9600 and higher, respectively. Bears are expected to regain control around 0.9600.




Trading recommendations:


Initiate short positions at the levels of 0.9580-0.9600.


Good luck!




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Technical analysis of USD/JPY for February 26, 2015


Technical outlook and chart setups:


The USD/JPY pair is trading sideways (cone formation) in a 400-pip range for recent several months. The pair is seen to be trading at 119.00 for now facing resistance at the upper boundary of trading range. It is recommended to trade according to a range breakout, buy on a break above resistance line. Sell would be failure. Immediate resistance is seen at 120.50 levels, followed by 121.50 while support is seen at 117.00 levels, followed by 115.50 and lower respectively. Please note that a break below 116.50 levels from here would see a deeper correction towards 113.00 and 111.50 levels respectively.


Trading recommendations:


Remain flat for now, trade a break out.


Good luck!




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Technical analysis of USD/CAD for Febuary 26, 2015

General overview for 26/02/2015 07:55 CET


For the whole week so far, this pair had stayed inside the neutral/range zone and it is still about to complete the corrective pattern. Currently, the intraday moves inside the range are limited and the market is close to important support at the level of 1.2349. The triangle structure can be completed at this level, but please notice, that the alternative count suggests even deeper correction is possible. Nevertheless, there are no evident market reversal clues so far as the golden trend line is not violated and pair is trading below the weekly pivot.


Support/Resistance:


1.2349 - Technical Support


1.2400 - Intraday Support


1.2435 - WS1


1.2443 - Intraday Resistance


1.2496 - Weekly Pivot


Trading recommendations:


Daytraders should consider opening buy orders from current market levels with SL below the level of 1.2348 and TP at the level of 1.2496 with a possible upward extension.


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

Technical analysis of EUR/JPY for Febuary 26, 2015

General overview for 26/02/2015 07:45 CET


As anticipated yesterday, the wave b purple is getting more complex and time-consuming as it is evolving into some kind of a triangle pattern. It looks like the wave -e- black is missing in this structure and upward breakout is still expected when the correction in wave b purple is completed. Please keep an eye on the intraday support at the level of 134.43 as any breakout lower would be intraday bearish. The next level of support at 133.55 might get tested before the overall corrective structure is completed. On the other hand, the upside targets are still the same.


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. Patience please, as the wave b purple is about to be completed.


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Technical analysis of EUR/USD for February 26, 2015


Technical outlook and chart setups:


The EUR/USD pair has been drifting sideways in a 150-pip trading range between 1.1300 and 1.1450 respectively, as seen here on the 1H chart. The pair had rallied from 1.1100 to 1.1530 earlier and then retraced lower to the fibonacci 0.618 support at 1.1260 levels. It is recommended to remain long and also add further at the current price, with a risk at 1.1200. Immediate support is seen at 1.1250/60 followed by 1.1100 while resistance is seen at 1.1500 levels (interim) followed by 1.1650, 1.1850 and higher respectively. Bulls are expected to remain in control till prices stay above 1.1250 levels.


Trading recommendations:


Remain long for now, stop at 1.1200, a target is 1.1800.


Good luck!




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Technical analysis of EUR/JPY for February 26, 2015


Technical outlook and chart setups:


The EUR/JPY pair is seen to be trading sideways (cone formation) in a 100-pip range between 134.50 and 135.50 respectively for 3 trading sessions in a row. Please note that the pair had bounced off lows, just below 134.00 earlier as seen here on the 1H chart. The pair is expected to break higher towards at least 137.50 levels. A push above 135.50 levels now would confirm the same. Hence, it is recommended to remain long with a risk below 133.00 levels. Immediate support is seen at 134.50, followed by 133.50, 132.50 and lower while resistance is seen at 135.50 levels, followed by 136.00/25, 137.50/138.00 and higher respectively.


Trading recommendations:


Remain long, stop at 132.50, a target 137.50/138.00.


Good luck!




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Technical analysis of GBP/CHF for February 26, 2015


Technical outlook and chart setups:


The GBP/CHF pair is trading at 1.4749 levels at the moment and is expected to face resistance. Please note that the pair has been rising since hitting lows at 1.1800 levels on January 15, 2015 and has retraced up to fibonacci 78.6%. It is recommended to initiate 50% short positions with risk above 1.4791 levels. Immediate support is seen at 1.4630, followed by 1.4400, 1.4250 and lower while resistance is seen at 1.4760 levels (interim), followed by 1.5150 and 1.5550 respectively. Bears are expected to regain control at the current levels. A push below 1.4630 would be confirmed and accelerate.


Trading recommendations:


Initiate 50% short positions, stop 1.4810, a target is open.


Good luck!




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Technical analysis of Silver for February 26, 2015.


Technical outlook and chart setups:


Silver remains bullish, after bouncing off the fibonacci 0.618 support at $16.10 levels as depicted here. Bulls seem to have taken control for now with an immediate short-term target being at $17.50. It is highly recommended to remain long for now and consider buying more during intraday dips, with risk at $15.50 levels. Immediate support is seen at $16.00/10 (interim), followed by $15.50 and lower while resistance is seen through $17.40/50 levels (interim), followed by $18.40/50 and higher respectively. Bulls are poised to remain in control till prices stay above $15.50 levels. Upside potential is seen through $21.00 levels.


Trading recommendations:


Remain long for now, stop at $15.50, a target is open.


Good luck!




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Technical analysis of Gold for February 26, 2015


Technical outlook and chart setups:


Gold had been in a range between $1,205.00/10.00 levels yesterday but is looking to break above $1,210.00 for now. The metal needs to break above $1,225.00 and subsequently $1,237.00 levels to confirm reversal and accelerate higher. Furthermore, please note that the metal has produced a tweezer bottom signal around $1,190.00 levels indicating a potential reversal. Also, $1,190.00 is projected right shoulder of a potential head and shoulder reversal. Hence, it is recommended to remain long, with risk at $1,170.00 levels. Immediate support is seen at $1,190.00 levels, followed by $1,170.00 and lower while resistance is seen at $1,237.00, $1,280.00 and higher respectively.


Trading recommendations:


Remain long, stop at $1,170,00, a target is open.

Good luck!



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

Technical analysis of EUR/USD for February 26, 2015

!EURUSD.jpg

When the European market opens, some economic news will be released such as Targeted LTRO, Italian 10-y Bond Auction, Italian Retail Sales m/m, Private Loans y/y, M3 Money Supply y/y, German Unemployment Change, and GfK German Consumer Climate. The US will also release a number of economic reports such as the Natural Gas Storage, HPI m/m, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims, Core CPI m/m, and CPI m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1416.

Strong Resistance:1.1409.

Original Resistance: 1.1398.

Inner Sell Area: 1.1307.

Target Inner Area: 1.1360.

Inner Buy Area: 1.1333.

Original Support: 1.1322.

Strong Support: 1.1311.

Breakout SELL Level: 1.1304.





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Technical analysis of USD/JPY for February 26, 2015

!USDJPY.jpg



In Asia, Japan will not release any economic data. However, the US will release a number of economic reports such as Natural Gas Storage, HPI m/m, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims, Core CPI m/m, and CPI m/m. 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: 119.63.

Resistance. 2: 119.40.

Resistance. 1: 119.17.

Support. 1: 118.88.

Support. 2: 118.65.

Support. 3: 118.41.





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

Daily analysis of USDX for February 26, 2015

The USDX is looking to stay supported by the level of 94.18 on the daily chart. Now, we could expect a rebound on this important zone, as we saw during the latest days the strength that is showing the support level mentioned above. One would expect a breakout at that level with a bearish target at the level of 93.02, but the main bias is still bullish.


USDXDaily.png

On the H1 chart, the USDX had a quite bearish day during the session on Wednesday, as the instrument is trying to form a lower low pattern in order to reach the support level of 94.02. If the USDX makes a breakout in that zone, it's expected to fall to the level of 93.87. Currently, we are keeping a sideways outlook on this instrument.


USDXH1.png

Daily chart's resistance levels: 95.45 / 96.96


Dailychart's support levels: 94.18 / 93.02


H1 chart's resistance levels: 94.38 / 94.87


H1 chart's support levels: 94.02 / 93.87




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 94.38, take profit is at 94.87, and stop loss is at 93.90.


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Daily analysis of GBP/USD for February 26, 2015

The GBP/USD pair had a very upward move during the session on Wednesday, as the pair is consolidating above the current support level of 1.5491. This rally opens the way for the GBP/USD pair to test the resistance level of 1.5761 in the medium term, because the nearest strong resistance zone is on this timeframe. The MACD indicator is still positive.


GBPUSDDaily.png

The intraday outlook is now very bullish, as the pair is trying to do a rally towards the resistance level of 1.5585 after overcoming the 1.5516 level. Besides, the 200 SMA is bullish and we could see more bullish moves next days, as the GBP/USD pair hasn't reached the overbought levels yet at the oscillators, such as the MACD indicator on the H1 chart.


GBPUSDH1.png

Daily chart's resistance levels: 1.5761 / 1.5957


Dailychart's support levels: 1.5491 / 1.5247


H1 chart's resistance levels: 1.5516 / 1.5585


H1 chart's support levels: 1.5455 / 1.5413




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 1.5516, take profit is at 1.5585, and stop loss is at 1.5448.


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Daily analysis of major pairs for February 26, 2015

EUR/USD: This currency trading instrument has been in a trendless situation for a few weeks. Even news releases that are supposed to affect the EUR and the USD have minor effects on the instrument.Very soon, there would be a rise in momentum this market and it would be nice to wait till then.


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USD/CHF: The USD/CHF pair is also caught in an equilibrium phase as the price is wandering 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: GBP/USD remains the only trending pair among most majors. Most majors are currently consolidating, while the GBP/USD pair is still capable to climb higher. The price is now above the accumulation territory at 1.5500. It would soon reach the distribution territory at 1.5550. Some fundamental figures are expected today and in addition, they would have impact on the markets.


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USD/JPY: A clear directional movement is expected in this market and it might be OK to wait until there is such. As it is said earlier this week, it is either the price goes below the demand level at 118.00 or above the supply level at 120.00.


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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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Technical analysis of EUR/USD for February 26, 2015

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Trading recommendations :



  • According to the previous events, the EUR/USD pair has still traded between the supports of 1.1288/1.1200 and the resistance of 1.1432/1.1460.

  • First outlook: Sell below the price of 1.1459 which represents the weekly resistance 1with the first target at the 1.1369 price (the weekly pivot point is set at 1.1369), then it will call fora downtrend in order to continue its bearish movement towards 1.1304 and 1.1288 to test this strong support (it should be noted that the price of 1.1288 is going to form the weekly support 1). At the same time, the stop loss should be placed at the level of 1.1486.

  • Second outlook: In the long term, buy above the price of 1.1288 (if the trend fails to close below it) with a target at 1.1355. It should also be noticed that the price of 1.1432 is representing the double top on H4 chart.



Observations :



  • The key level will be found at the price of 1.1369.

  • The resistance will set at the level of 1.1459 today.

  • The double top is going to set at the 1.1536 price this week.

  • The area of 1.1460 is a useful spot to sell in the long term.

  • We expect a range of 85 pips on February 26, 2014.

  • It should be noted that if there is no significant news to influence, the market price will be moving from the pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.



Weekly technical levels :



  • Reisstance 2: 1.1536

  • Reisstance 1: 1.1459

  • Pivot point: 1.1369

  • Support 1: 1.1288

  • Support 2: 1.1198



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Technical analysis of USD/CHF for February 26, 2015

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Overview :



  • The USD/CHF pair is calling for the bullish market from the levels of 0.9089, 0.9300, and 0.9405 since last week. Nowadays, the level of 0.9405 is representing support 1. Moreover, it should be noticed that the USD/CHF pair is still moving between the first support and first resistance which are setting at the 0.9405 and 0.9595 prices respectively. As it is known, the chronicle will probably repeat itself at these levels again. Therefore, as the upward trend is still strong on H4 chart, it will be a good sign to buy above the level of 0.9405 with the first target of 0.9522 (minor resistance on the same chart). It will call for an uptrend in order to continue its bullish movement towards 0.9595 in coming days. Also, we should bear in mind that the strong resistance (0.9595) is coinciding with the ratio of 78.6% Fibonacci retracement levels. However, a stop loss should never exceed your maximum exposure amounts. Consequently, the stop loss should be placed below the support of 0.9405 at the price of 0.9372.


Notes :



  • We expect a new range about 218 pips this week.

  • The key level will set at the level of 0.9405.

  • The support of the USD/CHF pair has already set at 0.9405.

  • Moreover, the weekly support 1 will set at the 0.9300 level. If the trend fails to close below the level of 0.9405, it will be a good opportunity to buy above 0.9400 with the first target at 0.955 , then it will be continued straight towards 0.9595.


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