Technical analysis of EUR/SEK for April 01, 2016

EUR/SEK continues trading between R2 (9.2830) and S1 (9.2185). But at the same time, the price broke below the ascending channel and found the resistance at the lower channel trend line as well as 61.8% Fibs applied to the channel's break-out point.

Currently, the price is stuck between R1 and S1 levels where the support seems to be broken while resistance is holding. Taking into consideration that previously the S1 support has been already broken, the probability of the price going down remains high. Not to mention that the price is right at the R1 resistance that has been rejected today.

Consider selling EUR/SEK today while the price is near R1 (9.2500), targeting S2 (9.1790) support level. The stop loss should be well above R1. On the other hand, daily close above R1 should shift the medium-term direction to the upside.

Support: 9.2185, 9.1790, 9.1150

Resistance: 9.2500, 9.2830

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Technical analysis of AUD/CHF for April 01, 2016

According to my previous analysis, AUD/CHF is expected to move lower. The price remains below the R1 resistance and has slightly dropped already.

Consider holding short positions from 0.7400 (R1) targeting 0.7185 (S2). The stop loss should be just above the 0.7500 physiological resistance level. Alternative strategy is the sell breakout of the 0.7285 (S1), targeting S3 or S3.

Support: 0.7285, 0.7185, 0.7085

Resistance: 0.7410, 0.7500

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NZD/USD intraday technical levels and trading recommendations for April 1, 2016

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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.

On March 30, an obvious bullish breakout above 0.6860 was executed. Hence, the price level of 0.6860 now constitutes a recent support level.

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.

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EUR/NZD analysis for April 01, 2016

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Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6521. Anyway, EUR/NZD is in downtrend and I found a bearish flag formation, which is a sign that we may see further bearish continuation. Watch for potential breakout of berish flag to confirm further bearish continuation. The breakout of 1.6440 will confirm further downward movement. The first take profit level is set at the price of 1.6265 (swing low).

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6490

R2: 1.6520

R3: 1.6570

Support levels:

S1: 1.6390

S2: 1.6360

S3: 1.6310

Trading recommendation for today: Watch for breakout of the bearish flag formation to confirm further downward movement.

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USD/CAD intraday technical levels and trading recommendations for April 1, 2016

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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).

Previously, the price level of 1.2975 (61.8% Fibonacci level) stood as a prominent support level which provided significant bullish rejection and prevented further bearish decline.

On the other hand, 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.

Conservative traders should wait for a DAILY closure 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.

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Technical analysis of NZD/USD for April 1, 2016

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Overview:

  • The NZD/USD pair broke resistance which turned into strong support at the level of 0.6851 yesterday. The level of 0.6851 coincides with 61.8% of Fibonacci, which is expected to act as major support today. Since the trend is above the 61.80% Fibonacci level, the market is still in an uptrend. From this point, the NZD/USD pair is continuing in a bullish trend from the new support of 0.6851. Currently, the price is in a bullish channel. According to the previous events, we expect the NZD/USD pair to move between 0.6851 and 0.6964. On the H4 chart, resistance is seen at the levels of 0.6851 and 0.7018. Also, it should be noticed that, the level of 0.6901 represents the daily pivot point. Therefore, strong support will be formed at the level of 0.6851 providing a clear signal to buy with the targets seen at 0.6851. If the trend breaks the support at 0.6901 (daily pivot point) the pair will move upwards continuing the development of the bullish trend to the level of 0.6851 and 0.7018 in order to test the daily resistance 2. However, stop loss is to be placed below the level of 0.6817.
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Intraday technical levels and trading recommendations for GBP/USD for April 1, 2016

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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 during the previous few weeks.

On March 11, temporary bearish rejection was expressed until March 16 when the price level of 1.4050 managed to push the pair again to the upside (note the lower tail of previous weekly candlesticks).

Bullish persistence above the price level of 1.4488 will allow a quick bullish movement to occur towards 1.4620. Otherwise, a bearish movement towards the price levels of 1.4060 and 1.3960 should be expected.

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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. The 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 the 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.

On the other hand, 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.

Today, daily persistence below 1.4333 (61.8% Fibonacci level) is needed to ensure further bearish decline. Estimated bearish targets are located at 1.4060 and 1.3960.

Otherwise, if bullish persistence above 1.4490 is achieved, a bullish movement towards 1.4650 should be expected (Low Probability).

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Gold analysis for April 01 , 2016

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Since our last analysis, gold has been trading sideways at $1,231.00. A breakout of the $1,245.50 level is needed for the continuation of the upward movement. On the 4H time frame chart, I found low liquidity on the market. 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. From the other side, we got a weak closing of the bar from yesterday, which is a sign that we may see a downward correction before the breakout.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,240.00

R2: 1,243.90

R3: 1,250.00

Support levels:

S1: 1,227.00

S2: 1,223.30

S3: 1,217.00

Trading recommendations for today: Watch for buying opportunities on the dips. Selling looks very risky.

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Technical analysis of USD/CHF for April 1, 2016

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Overview:

  • The USD/CHF pair broke support which turned into strong resistance at the level of 0.9673 this week. The level of 0.9673 coincides with the last weekly support 1, which is expected to act as major resistance today. The Relative Strength Index (RSI) is considered oversold because it is below 70. The RSI is still signaling that the trend is upward as it is still strong below the moving average (100). This suggests that the pair will probably go down in coming hours. Accordingly, the market is likely to show signs of a bearish trend. In other words, buy orders are recommended below 0.9673 with the first target at the level of 1.6202. From this point, the pair is likely to begin a descending movement to the point of 0.9566 and further to the level of 0.9515. The level of 0.9515 will act as strong support. On the other hand, if a breakout happens at the resistance level of 0.9673, then this scenario may become invalidated.

Intraday key levels:

  • Resistance 3:0.9848
  • Resistance 2:0.9752
  • Resistance 1:0.9670
  • Pivot Point:0.9592
  • Support 1:0.9515
  • Support 2:0.9433
  • Support 3:0.9367
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Intraday technical levels and trading recommendations for EUR/USD for April 1, 2016

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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, the 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 swing to take place towards 1.1388.

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.

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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.

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.

Daily breakdown of the depicted uptrend line (around the price level of 1.1320) is needed to ensure enough bearish momentum in the market.

Trading Recommendation:

A valid sell entry can be offered around the supply zone around 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 daily closure below 1.1300 to SELL the EUR/USD pair. Initial T/P levels should be located at 1.1150 and 1.1080.

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Global macro overview for 01/04/2016

Global macro overview for 01/04/2016:

The UK consumer confidence declined to the lowest level in more than a year amid fears that Britain might vote to exit the European Union in June 2016. GfK consumer confidence index was at zero in March. Economists say the government's decision to hold the EU referendum is another domestic threat, which is likely to undermine confidence in the run-up to the vote on June 23. Even The Bank of England said earlier that after putting the Brexit at the top of the current domestic problems the prospects for financial stability have worsened. In conclusion, if British voters decide to leave the EU, Britain is likely to suffer a hit to growth, at least in the short term.

Let's now take a look at the GBP/USD technical picture in 4H time frame. The market has not managed yet to break out above the important technical resistance at the level of 1.4515 and currently is trading below the dashed purple trend line. Nevertheless, the corrective retracement from the level of 1.4457 is rather shallow. As long as the level of 1.4324 is not clearly violated bulls might still have another rally upwards to test the resistance again.

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Daily analysis of major pairs for April 1, 2016

EUR/USD: This currency trading instrument has trended upward by 250 pips, testing the resistance line at 1.4000. The price would continue moving upwards, owing to the Bullish Confirmation Pattern in the market, which could take the price further upwards by another 100 pips. The next target for the price could thus be the resistance line at 1.4100.

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USD/CHF: Normally, the USD/CHF pair went in the opposite direction of the EUR/USD pair. The former dropped by 200 pips, now threatening to test the support level at 0.9550. The EMA 11 is below the EMA 56, while the price is in the oversold region. It is assumed that the price would journey further downwards.

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GBP/USD: The Cable went upwards this week – though the price is currently consolidating. There is a Bullish Confirmation Pattern on the 4-hour chart. The EMA 11 is above the EMA 56 while the RSI period 14 is above the level 50. In spite of the present consolidation, the price would most probably go upwards when a breakout happens. A particular impediment to the bulls' interest is located at the distribution territory of 1.4450.

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USD/JPY: There is a clean Bearish Confirmation Pattern on the USD/JPY 4-hour chart. The price nearly tested the demand level at 112.00, before the current sideways movement in the market. That demand level could be broken to the downside as the price moves further south, targeting another demand level at 111.00.

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EUR/JPY: The EUR/JPY pair has gone upwards so far this week. The price has moved upwards by 150 pips and it is now above the demand zone at 128.00. The next target for bulls is at the supply zone of 129.00, which would be attained today or next week.

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Global macro overview for 01/04/2016

Global macro overview for 01/04/2016:

The most anticipated economic event of the week has finally arrived and at 01:30 GMT the Non-Farm Employment Change (NFP) figures will be released. The market expects a slight decline in the level of created jobs: from 242K a month before down to 206K. The unemployment rate is expected to stay at the same level of 4,9% and average hourly earning is expected to rise to the level of 0.2% from -0.1% in the prior month. In conclusion, all market participants will keep an eye on this rapport as expectations are high and data depended Fed might adjust the current monetary policy, ( i.e. rate hike) if the numbers beat their expectations.

Let's now take a look at the technical picture of the US Dollar index in the daily time frame. After the failure at the level of 96.41 bears are in full control over this market and currently the first technical support at the level of 94.57 is being tested. Please notice, the price is trading below the 21,50 and 100 daily moving average, but still there is a chance for a bullish trend resumption if the level of 92.59 is not violated.

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Technical analysis of USDX for April 1, 2016

The Dollar index made a new lower low yesterday as we expected from our analysis. The trend remains bearish. Today, I believe we can see even lower levels but I do not believe this is the time to open short positions.

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Red line - resistance

Blue line - support

The Dollar index made a new low but price came back up towards the broken support level for a back test. Stochastic is turning upwards from oversold levels and today we have a good chance to see some bullish divergence. We can see new lower lows in the index but not in the stochastic. This is not the time to open short positions. This is the time to protect short positions and look for longs.

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Blue lines - sideways channel

The weekly chart continues to point lower as price got rejected at the upper cloud boundary and it is now in the middle of the Kumo (cloud). Price could test even 93, if the Dollar is pressured today after the NFP announcement. The trend remains bearish for a short-term prospective and neutral for a medium- to long-term prospective as price remains trapped inside the sideways channel.

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Technical analysis of Gold for April 1, 2016

Gold price continues trading inside the downward sloping channel. Gold is in a corrective phase that is expected to end around $1,100-$1,150 before resuming higher. However, I would not rule out a re-test of the recent highs before resuming a short-term bearish trend.

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Blue lines - downward sloping channel

Gold price is testing the 4 hour Kumo (cloud) resistance. A break above $1,250 will open the way for a re-test of the $1,283 highs and why not produce one more final high near $1,300. Support is at $1,220. If it is broken we are going to test $1,200. A weak dollar move could help push price of Gold towards $1,280 after the NFP announcement.

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On a weekly basis, Gold price remains above the weekly Kumo (cloud) and the pull back has not reached the 38% Fibonacci retracement yet. Overall, despite short-term volatility that might arise from today, I expect Gold price to move towards $1,150-$1,100 to end the downward correction. This does not mean that I prefer short positions. I prefer to wait to go long at the $1,150-$1,100 area. This is because there are a lot of chances to see a big bounce today towards $1,280.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/JPY for April 1, 2016

General overview for 01/04/2016:

The impulsive wave progression to the upside has been completed and now the market is in the corrective cycle. Wave A of the correction has been made already, but the correction can be more complex and time consuming. If the market breaks below the intraday support at the level of 126.95, bears will be in control over this market. If the market makes another higher high above the level of 128.21, then bulls are still in control over this market.

Support/Resistance:

127.81 - Intraday Resistance

127.42 - WR1

127.09 - 127.26 - Supply Zone

126.95 - 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:

All buy orders have hit TP at the level of 128.18 and now are closed with profit. Traders should refrain from trading and wait for another trading setup to occur .

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Technical analysis of USD/CAD for April 1, 2016

General overview for 01/04/2016:

Another marginal low has been made overnight, but the price strongly rebounded upwards in an impulsive fashion. Currently, the market trades inside of the neutral zone between the levels of 1.3017 - 1.3128. Only a sustained break out above the intraday resistance at the level of 1.3128 would confirm the bottom for wave (c) of wave Z brown is in place.

Support/Resistance:

1.3495 - WR2

1.3416 - WR1

1.3217 - Weekly Pivot

1.3140 - WS1

1.3128 - 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.

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Technical analysis of USD/JPY for April 01, 2016

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USD/JPY is expected to hit the target at 111.60 while remaining below the key resistance at 112.65. Overnight, US stocks ended slightly lower, with the Dow Jones Industrial Average declining 0.2% to 17685, the S&P 500 dropping 0.2% to 2059, and the Nasdaq Composite being broadly flat at 4869.

Meanwhile, the US government reported that initial jobless claims rose to 276K in the week ended March 26 (vs 265K expected) from 265K in the previous week.

Nymex crude oil edged up 2 cents to $38.34 a barrel, gold rose 0.6% to $1232 an ounce, while the benchmark 10-year Treasury yield fell to 1.784% from 1.830% in the previous session.

The Wall Street Journal Dollar Index lost another 0.2% to 86.56 as EUR/USD gained 0.4% to 1.1378, USD/CHF fell 0.4% to 0.9611. At the same time, USD/JPY rose 0.1% to 112.56, GBP/USD edged down 0.1% to 1.4358, USD/CAD increased 0.3% to 1.3004, and NZD/USD was down 0.2% to 0.6903.

This morning the Bank of Japan reported that the Large-Manufacturer Tankan fell to 6 in Q1 (vs 8 expected) from 12 in the previous quarter. Tonight the US government will release the closely watched March jobs report. The pair has just broken below the lower Bollinger band as those bands are widening, indicating an acceleration to the downside. The intraday (30-minute chart) relative strength index is badly directed below the neutrality level of 50. The first downside target at 111.60 is in sight.

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 111.60. A break of this target will move the pair further downwards to 111.20. The pivot point stands at 112.65. 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 113.20 and the second target at 113.45.

Resistance levels: 113.20, 113.45, 113.80

Support levels: 111.60, 111.20, 110.85

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Technical analysis of USD/CHF for April 01, 2016

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USD/CHF is expected to trade with a bearish bias as key resistance is at 0.9650. Despite yesterday's technical rebound, the pair is still under pressure below its key resistance at 0.9650, which should limit any upward attempts. Moreover, the process of lower highs and lows remains intact. Both the 20-period and 50-period moving averages are heading downward. In these perspectives, as long as 0.9650 is not surpassed, the risk of a break below 0.9570 remains high. Our next down target is set at 0.9525.

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 0.9570. A break of this target will move the pair further downwards to 0.9525. The pivot point stands at 0.9650. 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 0.9690 and the second target at 0.9715.

Resistance levels: 0.9690, 0.9715, 0.9785

Support levels: 0.9570, 0.9525 , 0.9465

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Technical analysis of NZD/USD for April 01, 2016

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NZD/USD is expected to trade in a higher range as the bias remains bullish above 0.6835. From a chartist view, the pair stands firmly above its nearest support at 0.6965, and is likely to post a new bounce to challenge 0.7030 in the coming trading hours. The relative strength index is mixed to bullish, calling for a rebound. Therefore, as long as 0.6780 holds on the downside, look for 0.6965 and 0.7030 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 0.6965 and the second one at 0.7030. In the alternative scenario, short positions are recommended with the first target at 0.6780 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 0.6725. The pivot point is at 0.6835.

Resistance levels: 0.6965, 0.7030, 0.7065

Support levels: 0.6780, 0.6725, 0.6695

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Technical analysis of GBP/JPY for April 01, 2016

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GBP/JPY is expected to trade in a lower range. The pair is currently challenging the key horizontal resistance at 161.65. Intraday technical indicators are mixed and call for caution. As long as 161.65 is not broken up, the first target to the downside is set at 160.35. A break below this level would open the way to further weakness toward 160.

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 160.35. A break of this target will move the pair further downwards to 160. The pivot point stands at 161.65. 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 162 and the second target at 162.50.

Resistance levels: 162, 162.50, 162.85

Support levels: 160.35, 160, 159.40

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Elliott wave analysis of EUR/NZD for April 1 - 2016

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Wave summary:

It should be just a matter of time before minor resistance at 1.6508 is taken out. This will be the first good indication that a low is in place for the next impulsive move higher. To confirm that a low was seen at 1.6229, a break above 1.6725 will be needed, but once this resistance is cleared, we do think that the upside acceleration we have been waiting for will finally take place for a rally to 1.7220 and higher to 1.8551.

Short term minor support is now found at 1.6373 and again at 1.6331.

Trading recommendation:

We are long in EUR from 1.6250 and will move our stop higher to 1.6325. If you are not long in EUR yet, then buy a break above 1.6508.

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Elliott wave analysis of EUR/JPY for April 1 - 2016

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Wave summary

We are still looking for the final leg higher towards 128.91 to terminate wave iv and set the stage for the decline in wave v towards the ideal long term target at 117.38.

Short term support at 126.94 should support the downside for the rally to 128.91.

Trading recommendation:

We are long in EUR from 127.35 and will move our stop higher to 126.90. Take profit + reverse will be placed at 128.75.

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

Technical analysis of EUR/USD for April 01, 2016

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When the European market opens, some economic news will be released such as the Unemployment Rate, Italian Monthly Unemployment Rate, Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. The US will release economic data too such as Total Vehicle Sales, Revised UoM Inflation Expectations, ISM Manufacturing Prices, Construction Spending m/m, Revised UoM Consumer Sentiment, the ISM Manufacturing PMI, Final Manufacturing PMI, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1433.

Strong Resistance:1.1426.

Original Resistance: 1.1415.

Inner Sell Area: 1.1404.

Target Inner Area: 1.1377.

Inner Buy Area: 1.1350.

Original Support: 1.1339.

Strong Support: 1.1328.

Breakout SELL Level: 1.1321.

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 April 01, 2016

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In Asia, Japan will release the Final Manufacturing PMI, Tankan Non-Manufacturing Index, Tankan Manufacturing Index and the US will release some economic data such as Total Vehicle Sales, Revised UoM Inflation Expectations, ISM Manufacturing Prices, Construction Spending m/m, Revised UoM Consumer Sentiment, the ISM Manufacturing PMI, Final Manufacturing PMI, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m.So there is a probability the USD/JPY pair will move with medium to high volatility during this day.

TODAY'S TECHNICAL LEVELS:

Resistance. 3: 112.86.

Resistance. 2: 112.64.

Resistance. 1: 112.42.

Support. 1: 112.15.

Support. 2: 111.93.

Support. 3: 111.70.

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 USD/JPY for March 31, 2016

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Overview

The USD/JPY pair settles near 112.00 level after the bearish rebound that appeared from 113.97 area. As long as the price is below this level, the correctional bearish track will remain valid and active for the upcoming period. Therefore, we believe the way is open to head towards our targets that begin at 110.00 and extend to 106.63, reminding you that breaching 113.97 will push the price to retest 116.14 level before any new attempt to decline.

The expected trading range for today is between 111.00 support and 113.00 resistance.

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

Daily analysis of GOLD for March 31, 2016

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Overview

Gold price is fluctuating around the key support 1227.40, which represents 23.6% Fibonacci of the rise measured from 1047.60 to 1282.90. Thus, it confirms that breaking this level will open the way to extend the bearish correction to target 1193.00 areas. On the other hand, stochastic offers clear positive signals that might protect the price from suffering more declines and add more strength to the current support areas, which makes us continue with our neutrality until the price offers a clearer signal for the next trend, which we will get through breaching one of the next trend keys represented by 1227.40 support and 1242.50 resistance. Please be aware that breaching this resistance will stop the correctional bearish pressure and lead the price to achieve gains that start at 1282.90 and extend to 1300.00.

The expected trading range for today is between 1205.00 support and 1250.00 resistance.

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

Daily analysis of Silver for March 31, 2016

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Overview

Silver price returns to test the bullish channel's support at 15.15, and as long as the price is above this level, chances are still high to resume the bullish trend on the intraday and short-term basis. Therefore, we will keep our bullish trend outlook that targets are seen at 15.70 followed by 16.35, noting that breaking 15.15 level will push the price to head towards 14.67 areas before hitting the next target on the short-term basis.

The expected trading range for today is between 15.00 support and 15.70 resistance.

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