NZD/USD intraday technical levels and trading recommendations for March 30, 2016

analytics56fbe21e5bf7c.png

On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. A bullish breakout above 0.6550 was executed a few weeks ago.

Bullish persistence above 0.6550 (depicted recent support) was needed to keep the price moving towards higher bullish targets.

The price zone of 0.6750-0.6840 constituted a significant resistance zone where signs of a bearish rejection were seen during the previous few weeks (triple-top reversal pattern).

On February 9, the NZD/USD pair failed to consolidate below the depicted support level of 0.6550.

Moreover, an obvious bullish recovery was expressed around the depicted temporary support level. Hence, the recent bullish swing towards 0.6750 and 0.6860 was initiated.

Today, obvious bullish breakout above 0.6860 is being executed.

Bullish persistence above 0.6860 is mandatory to allow further bullish advancement towards 0.7070 and 0.7170 where a prominent consolidation range was previously established in June 2015.

On the other hand, conservative traders can wait for a bearish pullback towards 0.6860 for a valid entry.

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

Global macro overview for 30/03/2016

Global macro overview for 30/03/2016:

The Japanese Industrial Production data was released overnight. It turned out to be disappointing. According to the Ministry of Economy, industrial output plunged 6.2% in February from the previous month. The Japanese government expects that output will increase 3.9% this month and 5.3% in April. However, the largest automaker, Toyota Motor Corp, stopped production in the factories due to a problem with parts supplies stemming from an explosion at a steel maker Aichi Steel Corp. on January 8. In conclusion, even this random event suggests that industrial production is undermining economic growth in the first quarter. If Japan's GDP contracts again, that would be the sixth quarterly contraction and the second recession since Shinzo Abe returned as prime minister in December 2012.

Let's now take a look at the USD/JPY technical picture in the daily time frame. The market is still trading between two golden lines in the congestion zone. Neither bulls, nor bears are in control over the market right now. The next support is seen at the level of 110.06.

analytics56fbe0329146a.jpg

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

USD/CAD intraday technical levels and trading recommendations for March 30, 2016

analytics56fbda12d7780.pnganalytics56fbda1ad2f59.png

A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart).

A significant bearish rejection was observed around 1.3450. Hence, another consolidation range was established from 1.3450 down to 1.2800.

On December 7, a bullish breakout above 1.3450 (the upper limit of the recent consolidation range) enhanced the bullish side of the market. Hence, a bullish visit to the resistance level of 1.4120 (Fibonacci Expansion 100%) was executed.

Bullish persistence above 1.4150 enhanced the bullish side of the market towards 1.4650 (141.4% Fibonacci expansion) where an evident bearish rejection was expected (bearish engulfing weekly candlestick).

The level of 1.4120 (Fibonacci Expansion 100%) stood as a significant key level to be watched for further price reactions.

Although the price zone of 1.3170-1.3250 was expected to offer bullish support for the USD/CAD pair, temporary bearish breakdown of the same price zone is being manifested on the daily chart.

This price zone corresponded to the depicted weekly uptrend line and the upper limit of the previous consolidation range (prominent breakout level).

The price level of 1.2975 (61.8% Fibonacci level) stands as a prominent support level to be watched for significant bullish rejection and a valid buy entry. It is already running in profits.

As expected, the price level of 1.3300 constituted a significant resistance level as it corresponded to the 50% Fibonacci level and the backside of the broken weekly uptrend where a valid sell entry was suggested on March 24.

On the other hand, conservative traders should wait for a bearish breakdown below 1.2975 (61.8% Fibonacci level) to SELL the USD/CAD pair.

Initial T/P levels should be located at 1.2770 and 1.2550.

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

Intraday technical levels and trading recommendations for GBP/USD for March 30, 2016

analytics56fbd2ec2049c.png

On January 21, after the GBP/USD pair moved below 1.4340, evident signs of a bullish recovery were expressed around 1.4075. Hence, previous weekly candlesticks closed above 1.4340 again.

Bullish persistence above 1.4488 was mandatory to maintain enough bullish strength in the market. The first bullish target was seen at 1.4615 where the most recent bearish swing was initiated.

As previous weekly candlesticks maintained their bearish persistence below the depicted demand zone (below 1.4340), the next demand level located at 1.3845 (historical bottom that goes back to March 2009) provided significant bullish rejection on February 26.

As expected, an evident bullish recovery and a bullish engulfing weekly candlestick were expressed around 1.3850 (prominent weekly demand level). That is why, a valid buy entry was suggested near the same level.

Recently, the price zone of 1.4340-1.4488 constituted a significant supply zone to offer evident bearish rejection.

Temporary bearish rejection was manifested via the previous weekly candlestick until March 16 when the price level of 1.4050 managed to push the pair again to the upside (note the lower tail of the previous weekly candlestick).

Note that bullish persistence above the price level of 1.4488 will allow a quick bullish movement to occur towards 1.4620.

Otherwise, a quick bearish movement towards the price levels of 1.4060 and 1.3960 should be expected.

analytics56fbd2d78fe44.png

A recent lower high was achieved around the level of 1.4530. This applied extensive bearish pressure against the price level of 1.4340.

Hence, an extensive bearish breakout below 1.4340 was expressed on the daily chart. GBP/USD pair looked oversold few weeks ago.

That is why, signs of bullish recovery and a profitable long entry were expected around 1.3850. A recent bullish swing was expressed towards the price levels around 1.4400.

On March 14, a recent bearish movement was initiated around 1.4350 (61.8% Fibonacci level). The nearest bearish target was located around 1.4050 where the current bullish swing was initiated.

Last week, the price level of 1.4488 was being challenged. It corresponded to 79.6% Fibonacci level and the backside of the depicted uptrend line. That's where the recent bearish swing was initiated towards 1.4050.

Conservative traders were advised to look for bullish price action around the demand level of 1.4050. As anticipated, T/P levels were already reached at 1.4250 and 1.4350.

Please note that the price zone of 1.4350-1.4490 constitutes a significant supply zone to be watched for evident bearish rejection and a valid SELL entry.

On the other hand, if bullish persistence above 1.4490 is achieved, a quick bullish movement towards 1.4650 should be expected.

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

Intraday technical levels and trading recommendations for EUR/USD for March 30, 2016

analytics56fbd02d66a02.png

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 and 1.2000 where historical bottoms had been previously set in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450.

In March 2015, EUR/USD bears challenged the monthly demand level of 1.0570, which had been previously reached in August 1997.

Later in April 2015, a strong bullish recovery was observed around the mentioned demand level.

April's monthly candlestick came as a bullish engulfing one. However, the next monthly candlesticks (September, October, and November) reflected a strong bearish rejection in the area around 1.1400.

December's candlestick came as a bullish engulfing one, allowing the current bullish pullback to take place towards 1.1370.

In February, the price zone of 1.1350-1.1400 acted as a significant supply zone during the previous bullish pullback. Hence, another bearish rejection should be expected around the current price zone during the ongoing bullish swing.

On the other hand, the level of 0.9450 will remain a long-term bearish target in case the current monthly candlestick closes below the depicted monthly demand level of 1.0570.

analytics56fbd03ed9d52.png

In November 2015, daily persistence below the level of 1.0800 (prominent key level) ensured enough bearish momentum towards 1.0550 (monthly demand level) where the most recent bullish swing was initiated.

During the last few weeks, a consolidation range between 1.1000 and 1.0800 was established on the daily chart. On February 3, a bullish breakout was executed above this consolidation range.

Consequently, a quick bullish movement started towards the zone of 1.1350-1.1400 where previous daily bottoms and the backside of the broken uptrend were depicted on the daily chart.

On February 12, a strong bearish engulfing daily candlestick was expressed near the mentioned supply zone. Hence, a quick bearish decline towards 1.1000 was executed.

A temporary bearish breakdown below 1.1000 (upper limit of the broken range) was seen on the daily chart. A quick bearish decline was expected towards 1.0820 where the most recent bullish swing was initiated.

Recently, bullish fixation above 1.1000 was mandatory to allow bullish movement to continue. Bullish targets were expected around 1.1320 and 1.1400 (recently visited).

Similar to what happened on February 12, the supply zone of 1.1320-1.1400 stands as a significant resistance zone for the EUR/USD pair to offer bearish rejection and a valid sell entry.

Trading Recommendation:

A valid sell entry can be offered around the supply zone of 1.1320 - 1.1400. T/P levels should be placed at 1.1200 and 1.1070. S/L should be placed above 1.1460.

Conservative traders can wait for a pullback towards 1.1000 to buy the EUR/USD pair. S/L should be placed below 1.0940.

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

Gold analysis for March 30 , 2016

analytics56fbb6766b912.png

Since our last analysis, gold has been trading upwards. The price tested the level of $1,243.84 in a high volume. Anyway, price respected strong resistance cluster at the level of $1,243.00 (previous swing low, downward trend line).To confirm further upward movement, I would like to see a breakout of the $1,245.50. According to the daily time frame, I found strong close of the bar in healthy volume. Watch for a successful breakout of $1,245.50 and then try to buy on the dips with the first target near the level of $1,259.00. Anyway, if we don't see a breakout of $1,245.50, the price may visit the level of $1,212.50 (support).

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,245.00

R2: 1,251.50

R3: 1,262.00

Support levels:

S1: 1,223.15

S2: 1,217.30

S3: 1,206.00

Trading recommendations for today:Watch for potential breakout of $1,245.50 to confirm further upward movement.

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

Technical analysis of NZD/USD for March 30, 2016

NZDUSDH4.png

Overview:

  • The NZD/USD pair will continue rising from the level of 0.6886 today. So, the support is found at the level of 0.6886, which represents the yesterday's bottom at the H1 time frame. Since the trend is above the level of 0.6886, the market is still moving up. Therefore, the NZD/USD pair is continuing with a bullish trend from the new support of 0.6890. The current price is set at the level of 0.6910 that acts as a daily pivot point seen at 0.6915. Equally important is that the price is in a bullish channel. According to the previous events, we expect the NZD/USD pair to move between 0.6890 and 0.6961. Therefore, strong support will be formed at the level of 0.6890 providing a clear signal to buy with the targets seen at 0.6991. If the trend breaks the support at 0.6991(first resistance), the pair will move upwards continuing the development of the bullish trend to the level of 0.7000 in order to form a new double top at the same time frame. Support is seen at the levels of 0.6886 and 0.6838. The stop loss should always be taken into account. It will be reasonable to set your stop loss at the level of 0.6810 (below the support 2).

Comment:

  • Resistances: 0.6964 and 0.7000.
  • Pivot point: 0.6915.
  • Support: 0.6886 and 0.6838.
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/CHF for March 30, 2016

USDCHFH4.png

Overview:

  • The USD/CHF pair continues moving downwards from the level of 0.9702, which represents the double top in the H1 chart. Yesterday, the pair dropped from the level of 0.9702 to the bottom around 0.9632. Today, the first resistance level is seen at 0.9702 followed by 0.9745, while daily support is seen at the levels of 0.9632 and 0.9589. According to the previous events, the USD/CHF pair is still trapping between the levels of 0.9702 and 0.9589. Hence, we expect a range of 113 pips in coming hours. The first resistance stands at 0.9702. If the USD/CHF pair fails to break through the resistance level of 0.9702, the market will decline further to 0.9589. This would suggest a bearish market because the RSI indicator is still in a negative area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.9589 in order to test the second support (0.9589). On the contrary, if a breakout takes place at the resistance level of 0.9745 (the weekly pivot point), then this scenario may become invalidated. But, we guess that the downtrend will probably be continued as long as the level of 0.9702 is not broken.
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/SEK for March 30, 2016

EUR/SEK has been trading down for an extended period of time and the fall does not seem to be over. Price remains below the 200 Moving Average. Yesterday, the confirming that bears are still driving this pair was rejected.

Applying the Fibonacci, it became obvious that price rejected both the 200 MA and the 61.8% Retracement level - R2 (9.2800). After that price started to move lower and broke below the 50% level - R1 (9.2475).

Currently the nearest downside target is at S2 (9.1740) as the S1 (9.2145) has already been broken. Consider selling EUR/SEK today while the price remains near R1, targeting either S2 or S3 support levels. The stop loss should be just above the R2.

Support: 9.2145, 9.1740, 9.1080

Resistance: 9.2475, 9.2800

EURSEK_INSTA.png

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

EUR/NZD analysis for March 30, 2016

analytics56fba97430203.png

analytics56fba9aaa12b0.png

Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.6261 in a very high volume. My second take profit has been reached. In the daily chart, the price finally broke (14 days) a trading range between the 1.6475 level (support) and the 1.6865 level (resistance). According to the 15M time frame, I found strong selling pressure and no demand bars near the level of 1.6360. Watch for intraday selling opportunities on rallies. The intraday take profit level is set at the price of 1.6260-1.6215.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6610

R2: 1.6670

R3: 1.6770

Support levels:

S1: 1.6415

S2: 1.6350

S3: 1.6255

Trading recommendation for today: There is strong downward pressure according to intraday time frames. Watch for selling opportunities on the rallies.

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

Global macro overview for 30/03/2016

Global macro overview for 30/03/2016:

Yesterday, the Fed Chairperson Jannet Yellen supported a rather cautious approach to the current policy and stressed gradual rate hike. This dovish statement was caused by global economic situation and financial uncertainties that might threaten the world's largest economy. Moreover, Yellen said inflation has not yet proven to be durable against the backdrop of stubbornly low oil prices and concerns over China. In conclusion, the global threats must first disappear or be reduced significantly before the data-depended Fed will hike the rates again.

Let's now take a look at the US Dollar index technical picture at the H4 time frame. The recent dovish remarks made by Yellen have caused a sell-off in the index, and bears are back to control over this market. The next support is seen at the level of 94.57, but it might get easily violated.

analytics56fba4b4a79e5.jpg

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

Technical analysis of EUR/JPY for March 30, 2016

General overview for 30/03/2016:

The supply zone has been violated, but the market looks weak at the current levels. However, the wave progression inside this upward structure does not look too impulsive so far; it is more like a zig-zag structure. If the market breaks below the intraday support at the level of 126.45, bears will be in control over this market. Nevertheless, the alternative count suggests that the correction might be complex and time-consuming, but it cannot violate the 123.07 level. If it does, the alternative count will be in play. This suggests more downward wave progression towards the 122.06 level.

Support/Resistance:

127.45 - Intraday Resistance

127.42 - WR1

127.09 - 127.26 - Supply Zone

126.45 - Intraday Support

126.04 - Weekly Pivot

125.54 - WS1

124.67 - Local Low

124.18 - WS2

123.69 - WS3

123.07 - Green Impulsive Cycle Invalidation Level

Trading recommendations:

Day traders should put trailing stop loss orders on long positions from the 123.00 area that is still in play and wait for the market's reaction at the supply zone. Any breakout higher might be another impulsive wave development towards the level of 128.18.

analytics56fb8da32bb3c.jpg

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

Technical analysis of USD/CAD for March 30, 2016

General overview for 30/03/2016:

The alternative count with the truncated wave V turned out to be the correct one, and a deep and sudden correction followed break-out of the 1.3140 level. Currently, the corrective cycle looks like a zig-zag pattern which is typical for wave 2. Please notice that any break-out below the 1.2923 level will invalidate the bullish impulsive count.

Support/Resistance:

1.3495 - WR2

1.3416 - WR1

1.3217 - Weekly Pivot

1.3140 - WS1

1.3130 - Intraday Resistance

1.3017 - Intraday Support

1.2944 - WS2

Trading recommendations:

The buy orders are now closed as the trailing stop loss level has been reached. For now, traders should refrain from trading and wait for another setup.

analytics56fb8c6fed7dd.jpg

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

Technical analysis of EUR/JPY for March 30, 2016

Technical outlook and chart setups:

The EUR/JPY pair hit fresh highs at 127.45 levels yesterday, before pulling back lower. The pair is trading at 127.00 levels at the moment, intending to continue dropping lower towards the major trend that is downward.Please note that yesterdays' high can still be considered as a test, and a push below 126.00 would accelerate downside further. It is still recommended to remain short with risk around 128.30 levels. Immediate resistance is just above 128.00 levels, while support is seen below 126.00 levels respectively. On the flip side though, a push above 128.50 levels, would delay the downside further.

Trading recommendations:

Remain short now, stop at 128.30, target is open.

Good luck!

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

Technical analysis of USDX for March 30, 2016

The Dollar index, as expected by our last analysis, has pulled back towards the short-term support at 95. For the last couple of days I've been calling a bearish reversal in the Dollar index and the speech by Fed Chairman Janet Yellen was the cause of such a pullback.

analytics56fb7383c902f.jpg

Red line - resistance

As I showed yesterday, the Dollar index was rejected at the downward sloping trend line from 98.60 and with oscillators diverging a pullback was imminent. After Janet Yellen's speech, the Dollar was pressured by sellers, so the index fell heavily towards the 61.8% and 78.6% Fibonacci retracement support levels.

analytics56fb74333576f.jpg

Red line - resistance

Blue lines - trading range

Although the Dollar index is still trapped inside the trading range shown by the blue lines, the short-term trend remains bearish as the price continues to make lower lows and lower highs. The price is still below the Kumo (cloud) resistance. However, I do not see a bullish divergence in the oscillators yet, so a new lower low could be expected. Above 96.40, the short-term trend changes to bullish.

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

Technical analysis of GBP/CHF for March 30, 2016

Technical outlook and chart setups:

The GBP/CHF pair is trading at 1.3905/15 levels for now, looking to rally and hit 1.4050 levels at least before producing a meaningful retracement lower. Please also note that the pair has broken its line of resistance already, and if prices push above 1.3950 levels, it is most likely to break through 1.4050 levels going forward. It is recommended to remain long now, with risk at 1.3800 levels. Immediate support is seen at 1.3850 levels, while resistance is seen at 1.4050 levels respectively. Bulls might want to remain in control for now, at least till prices stay above 1.3800 levels.

Trading recommendations:

Remain long now, stop at 1.3800, target is 1.4050.

Good luck!

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

Technical analysis of Gold for March 30, 2016

Gold prices bounced yesterday towards our target area of $1,235-40 as expected by our analysis. Gold has now reached an important short-term resistance. If the price manages to break above $1,250 we could even see new highs towards $1,300. Otherwise we should expect a break of $1,208 and new lows towards $1,190-$1,170.

analytics56fb722c74b66.jpg

Blue lines - bearish channel

Gold remains below the Kumo (cloud) and the stochastic oscillator has turned overbought. We could see a move a little bit higher closer to the upper channel boundary near $1,250 but this will be the main test. Only a clear break and close above $1,250 will help bulls make new highs. A rejection here will bring the price back to its recent lows and even lower.

analytics56fb7283c624e.jpg

There are bearish divergence signs on the weekly chart by the stochastic oscillator. The price, however, remains above the Kumo and the 38% Fibonacci retracement. The divergence signals imply that the pullback is not over. I expect Gold to make a big pullback towards the $1,150 area at least.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/JPY for March 30, 2016

USDJPYM30.png

USD/JPY is expected to trade in a lower range with 112.05 in sight. Overnight, US stocks rallied as investors were cheered up by Federal Reserve Chairwoman Janet Yellen, who said the central bank should proceed cautiously when it looks to raise interest rates. The Dow Jones Industrial Average rose 0.6% to 17633, the S&P 500 gained 0.9% to 2055, and the Nasdaq Composite was up 1.7% to 4846.

Nymex crude oil lost another 2.8% to $38.28 a barrel, gold rose 1.7% to $1,242 an ounce, while the benchmark 10-year Treasury yield declined further to 1.814% from 1.870% in the previous session.

Impacted by Yellen's dovish remarks, the US dollar fell against most major currencies, with the Wall Street Journal Dollar Index losing 0.9% to 87.01. EUR/USD increased 0.9% to 1.1289, GBP/USD gained 0.9% to 1.4380, USD/JPY dropped 0.7% to 112.66, USD/CAD was down 0.8% to 1.3072, and AUD/USD surged 1.1% to 0.7625.The pair tested 112.35 this morning as it continued the decline initiated at yesterday's high of 113.80. Currently the bearish bias is maintained by the descending 20-period (30-minute chart) moving average, which is well below the 50-period one. And the intraday relative strength index is badly directed below the neutrality level at 50. The intraday outlook remains very bearish and the pair should re-test 112.35 again. A break below 112.35 could trigger a further decline toward the next support at 112.05. Key resistance is located at 113.20.

Trading Recommendation:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 112.05. A break of this target will move the pair further downwards to 111.60. The pivot point stands at 113.20. 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, long positions are recommended with the first target at 113.45 and the second target at 113.80.

Resistance levels: 113.45, 113.80, 114.10

Support levels: 112.05, 111.60, 111.20

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

Technical analysis of AUD/USD for March 30, 2016

AUDUSDM30.png

AUD/USD is expected to hit the target of 0.7660. The pair keeps challenging the first upside target at 0.7660 after the overnight surge. The rising 20-period moving average, which is well above the 50-period one, is providing support, and the well-directed relative strength index suggests no lack of upward momentum. The next resistance above 0.7660 should be at 0.7680 (around the year-to-date high seen on March 18).

Trading Recommendation:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.7660 and the second one, at 0.7680. In the alternative scenario, a short position is recommended with the first target at 0.7535 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.7510. The pivot point is at 0.7565.

Resistance levels: 0.7660, 0.7680, 0.7715

Support levels: 0.7535, 0.7510, 0.7475

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

Technical analysis of EUR/USD for March 30, 2016

EURUSDM30.png

EUR/USD is expected to trade with a bullish bias above 1.1255. The pair surged up to 1.1303 overnight before entering a mild consolidation. Currently it keeps trading on the upside while being supported by the ascending 20-period moving average. Strong upward momentum is also suggested by the relative strength index, which is well directed above the overbought level of 70. Therefore, the pair is expected to re-test the first upside target at 1.1340 before proceeding further to 1.1365.

Trading Recommendation:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 1.1340 and the second one, at 1.1365. In the alternative scenario, a short position is recommended with the first target at 1.1220 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 1.1175. The pivot point is at 1.1255.

Resistance levels: 1.1340, 1.1365, 1.1410

Support levels: 1.1220, 10.175, 1.1100

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

Technical analysis of USD/CHF for March 30, 2016

USDCHFM30.png

USD/CHF is expected to trade in a lower range. The pair remains under pressure after yesterday's downside breakout of its key horizontal level at 0.9715. The previous support now plays a resistance role, which should limit any upside room. Furthermore, both the 20-period and 50-period moving averages have already reversed down, confirming a negative outlook. To conclude, as long as 0.9715 is not surpassed, the risk of a slide below 0.9650 remains high. Our next down target is set at 0.9625.

Trading Recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.9625. A break of this target will move the pair further downwards to 0.960. The pivot point stands at 0.9715. 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, long positions are recommended with the first target at 0.9760 and the second target at 0.9785.

Resistance levels: 0.9760, 0.9785, 0.9835

Support levels: 0.9625, 0.96 , 0.9545

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

Technical analysis of NZD/USD for March 30, 2016

NZDUSDM30.png

The upside movement is expected to prevail in the NZD/USD pair. The pair remains strongly on the upside, backed by its rising 20-period and 50-period moving averages. The relative strength index is still bullish above its neutrality area at 50. Even though a consolidation cannot be ruled out at the current stage, its extent should be very limited before further advance to 0.6885 and 0.6920 as targets. Stop loss is set at 0.6780 (the current 50-period moving average).

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.6885 and the second one at 0.6920. In the alternative scenario, short positions are recommended with the first target at 0.6725 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6695. The pivot point is at 0.6780.

Resistance levels: 0.6885, 0.6920, 0.6950

Support levels: 0.6725, 0.6695, 0.6660

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

Technical analysis of GBP/JPY for March 30, 2016

GBPJPYM30.png

GBP/JPY is expected to continue its further upside movement. The pair remains supported by its rising 20-period and 50-period moving averages, and is looking for a higher top. Meanwhile, the relative strength index is mixed to bullish. Further upside is therefore expected with the next horizontal resistance and overlap set at 160.70 at first. A break above this level would call for further advance toward 162.85 in extension.

Trading Recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 162.85 and the second one at 163.40. In the alternative scenario, short positions are recommended with the first target at 160 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 159.40. The pivot point is at 160.70.

Resistance levels: 162.85, 163.40, 164

Support levels: 160, 159.40, 158.40

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

Elliott wave analysis of EUR/NZD for March 30 - 2016

analytics56fb4d9ead1bc.png

Wave summary:

Stepping back a little to get the perspective right, we are convinced that we have seen an important low at 1.5784 (wave 2 low) and that a wave 3 rally is unfolding. However, we have not yet seen the expected acceleration higher in wave 3 that we normally expect, so is our count incorrect?

We think our wave count remains correct as long as the important support at 1.6085 stays unbroken. In the short term, we are looking for support near 1.6210 for a new rally above the important resistance at 1.6730 which is expected to release a lot of energy finally providing the upside acceleration towards 1.8551 which we have been looking for.

Trading recommendation:

We will only buy EUR at 1.6250 or upon a break above 1.6730 (one order cancels the other).

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

Elliott wave analysis of EUR/JPY for March 30 - 2016

analytics56fb4adcec72c.png

Wave summary:

Resistance at 127.27 was not able to protect the upside, which calls for a more complex double zig-zag combination unfolding. Wave c of the second zig-zag is currently unfolding and the wave equality between waves a and c will call for a rally higher to 128.91 to end wave iv and turn prices lower in wave v.

Support is now seen at 126.64 which ideally will protect the downside for the next rally above 127.45 for a move higher towards 128.91.

Trading recommendation:

We are long in EUR from 127.35 and will start placing our stop at 125.85 expecting to raise it soon.

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

Technical analysis of EUR/USD for March 30, 2016

1_EURUSD.jpg

When the European market opens, some economic news will be released such as the Italian 10-y Bond Auction and German Prelim CPI m/m. The US will release economic data too such as Crude Oil Inventories and ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1343.

Strong Resistance: 1.1337.

Original Resistance: 1.1326.

Inner Sell Area: 1.1315.

Target Inner Area: 1.1289.

Inner Buy Area: 1.1263.

Original Support: 1.1252.

Strong Support: 1.1241.

Breakout SELL Level: 1.1235.

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 March 30, 2016

2_USDJPY.jpg

In Asia, Japan will release the Prelim Industrial Production m/m and the US will release some economic data such as Crude Oil Inventories and ADP Non-Farm Employment Change. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Resistance. 3: 113.68.

Resistance. 2: 113.46.

Resistance. 1: 113.24.

Support. 1: 112.96.

Support. 2: 112.74.

Support. 3: 112.52.

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 major pairs for March 30, 2016

EUR/USD: The EUR/USD pair broke upwards on Tuesday, moving above the support line at 1.1250, and is now very close to the resistance line at 1.1300. Actually, that resistance line has been tested and it would be retested as the bulls push the price beyond it. The next target would then be another resistance line at 1.1350, which would also be breached to the upside.

1.png

USD/CHF: The pair broke downwards on Tuesday, moving below the resistance level at 0.9700, and is now very close to the support level at 0.9650. Actually, that support level would be tested as the bulls push the price beyond it. The next target would then be another support level at 0.9600, which would also be breached to the downside.

2.png

GBP/USD: As it was prognosticated, this currency trading instrument went upwards yesterday, resulting in a Bullish Confirmation Pattern on the chart. The EMA 11 is now above the EMA 56, as the RSI period 14 is above the level 50. The next targets for the bulls are located at the distribution territories of 1.4450 and 1.4500. The distribution territory at 1.4400 has been previously tested and it would be breached to the upside very soon.

3.png

USD/JPY: The USD/JPY pair broke down yesterday, threatening to invalidate the recent bullish outlook on the market. In case the price moves below the demand level at 112.00, the bullish outlook would be completely invalidated. However, a rally from here could reinforce the recent bullish outlook.

4.png

EUR/JPY: As it was expected, the EUR/JPY pair trended upwards on Tuesday (March 29, 2016). The price has moved upwards by 80 pips this week, now above the demand zone at 127.00. The next targets for the bulls are located at the supply zones of 127.50 and 128.00. However, this does not rule out any possibilities of pullbacks along the way.

5.png

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

Daily analysis of DAX for March 30, 2016

On the H1 chart, the DAX had a strong decline held since the March 23th session and we're seeing a consolidation above the 200 SMA, where it's finding dynamic support. If we follow the fractal rules of the market, we can expect a rally towards the resistance level of 9954, after a successful breakout above the 9904 pivot point level.

DAXH1.png

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the DAX breaks a bullish candlestick; the resistance level is at 9904, take profit is at 9954, and stop loss is at 9856.

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

Daily analysis of S&P 500 for March 30, 2016

The SP 500 is moving inside a very strong bullish bias in the short-term and is currently dealing with the strong resistance zone around the 2055 level. If the Index succeeds in breaking it, then an advance towards 2060 is highly probable in the coming days. However, a pullback towards the pivot point level of 2037.2 cannot be discarded.

SPXH1.png

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the SP 500 breaks a bullish candlestick; the resistance level is at 2055, take profit is at 2061, and stop loss is at 2048.

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

Daily analysis of USDX for March 30, 2016

On the H1 chart, USDX had a strong decline during the last hours and the Index may find strong support around the 95.12 level on a short-term basis. Over that zone, we can expect a rebound that corrects the decline held during Tuesday's session, but in the downside, the target is still placed around the 94.85 level. The MACD indicator is supporting this idea, moving on the negative territory.

USDXH1.png

H1 chart's resistance levels: 95.44 / 96.03

H1 chart's support levels: 95.12 / 94.85

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 95.12, take profit is at 94.85, and stop loss is at 95.40.

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

Daily analysis of GBP/USD for March 30, 2016

GBP/USD had a very strong bullish momentum during Tuesday's session after the Fed meeting, which added some weakness to the US Dollar and helped the other currencies to gain some positions in the market. In a technical view, the Cable is doing a strong consolidation above the 200 SMA on a short-term basis, so the pair may continue to do more rallies.

GBPUSDH1.png

H1 chart's resistance levels: 1.4397 / 1.4423

H1 chart's support levels: 1.4317 / 1.4267

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.4397, take profit is at 1.4423 and stop loss is at 1.4372.

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

Daily analysis of GOLD for March 29, 2016

GOLDH4.png

Overview

The gold price has not shown any strong moves since morning, still fluctuating around 1,220.00 and trading steadily below 23.6% Fibonacci level that forms a critical resistance at 1,227.40. Stochastic continues providing negative signals in the four-hour time frame. Therefore, we expect the bearish bias for the rest of the day; its targets begin by testing the next correction level. The continuation of the bearish correctional bias depends on the steady trading below 1,227.40 and 1,240.00 levels.

The expected trading range for today is between 1,193.00 support and 1,230.00 resistance.

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

Daily analysis of Silver for March 29, 2016

SILVERH4.png

Overview

The silver price broke the bearish channel's support level and closed the last four hours below it, invalidating the positive scenario suggested in our last reports. We should stay aside in order to monitor the price behavior according to the critical levels represented by 14.67 support and 15.70 resistance. The price is likely to breach one of these levels, thus detecting the next trend clearly. Besides, the price might head towards testing the mentioned support in case of breaking the 15.00 level in the upcoming session. Note that a break of the 14.67 level will extend silver losses to 14.27 then 13.63 on the near-term basis, while a breach of 15.70 would make the price regain the bullish track and head towards 16.35 as the first main target.

The expected trading range for today is between 14.80 support and 15.50 resistance.

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