NZD/USD intraday technical levels and trading recommendations for April 25, 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. The 0.6550 level was broken above a few weeks ago.

Bullish persistence above 0.6550 (depicted recent support) was necessary 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 at 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.

In March, an obvious bullish breakout above 0.6750 and 0.6860 was executed. Hence, these price levels now constitute recent support levels to be watched for valid buy entries.

Conservative traders should use a valid buy entry around the 0.6760 mark. It is already running in profits. S/L should be raised to 0.6880 to offset the risk and secure more profits.

This week, bullish persistence above 0.6850 (recent support) is mandatory to maintain enough bullish momentum in the market.

The NZD/USD traders should consider the current bearish pullback towards 0.6850 as a valid signal to BUY the pair. Bullish targets are to be located at 0.6960, 0.7050 and 0.7150.

On the other hand, a daily closure below the 0.6850 level enhances a quick bearish movement towards 0.6750 where another BUY entry with a better risk/reward ratio can be offered.

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USD/CAD intraday technical levels and trading recommendations for April 25, 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 at 1.4120 (Fibonacci Expansion 100%) occurred.

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 1.4120 level (Fibonacci Expansion 100%) stood as a significant resistance level where significant bearish rejection was applied.

Although the area of 1.3050-1.3250 was expected to offer bullish support for the USD/CAD pair, the same price zone was broken below as depicted on the daily chart.

The 1.3300 level stands as a significant resistance as it corresponds to the 50% Fibonacci level and the backside of the broken weekly uptrend where a valid sell entry was suggested on March 24.

Since March 18, the USD/CAD pair had been trapped within the consolidation range between 1.3300 and 1.2970 until a bearish breakout took place on April 11.

Traders who missed the initial entry around 1.3300 were instructed to consider the recent pullback towards 1.2975 (61.8% Fibonacci level) as a valid signal to sell the USD/CAD pair. This trade is currently running in profits.

The USD/CAD pair should keep trading below 1.2800 (a previous support level) in order to reach the next support level located at 1.2400 where price action should be watched for a possible bullish pullback.

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Intraday technical levels and trading recommendations for GBP/USD for April 25, 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, the previous weekly candlesticks closed above 1.4340 again.

Bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market.

However, as the 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 a significant bullish rejection on February 26.

As expected, an evident bullish recovery and a bullish engulfing weekly candlestick were expressed around 1.3850 (a prominent weekly demand level) where a significant bullish swing was initiated on March 1.

Recently, the price zone of 1.4340-1.4500 has been a significant supply zone during the past few weeks.

That is why a bearish rejection should be expected again around the current supply zone of 1.4340-1.4500. The nearest destination for the GBP/USD pair would be located at 1.3845.

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

Hence the GBP/USD pair looked oversold when the previous bearish decline extended below 1.4040 (temporary support).

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

The price zone of 1.4340-1.4500 constituted a significant supply zone where the depicted the Head and Shoulders reversal pattern was expressed. Estimated bearish targets were located at 1.4060, 1.3960, and 1.3800.

On April 7, the market failed to push below the price level of 1.4050. Hence a bullish movement was executed again towards the price levels of 1.4340 and recently 1.4500.

This week, daily persistence below 1.4500 (79.6% Fibonacci level) and 1.4340 (61.8% Fibonacci level) will be needed to enhance further bearish decline towards 1.3950 and 1.3800.

Otherwise, the GBP/USD pair may extend up to the price level of 1.4680 (100% Fibonacci level) before further bearish decline can occur.

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Intraday technical levels and trading recommendations for EUR/USD for April 25, 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 previous bullish swing to take place towards 1.1390.

In February, the depicted price levels around 1.1350-1.1400 acted as a significant supply zone during the previous bullish pullback.

Hence, another bearish rejection should be expected around the mentioned price zone. If not, further bullish movement towards 1.1700 should be expected.

In the long-term prospect, the level of 0.9450 will remain a projected bearish target in case a monthly candlestick comes to close 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 the 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 consolidation range) was seen on the daily chart. A quick bearish decline was expected towards 1.0820 where the most recent bullish swing was initiated.

On March 10, a bullish fixation above 1.1000 was mandatory to allow bullish movement to continue. Bullish targets were projected towards 1.1320 and 1.1400.

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

A Head and Shoulders reversal pattern is being expressed around this supply zone. Hence, a valid SELL entry was offered around the price area of 1.1350-1.1400 (right shoulder of the reversal pattern).

That is why daily persistence below the price level of 1.1320 is needed to ensure further bearish momentum in the market.

Trading Recommendation:

In the previous articles, a valid sell entry was suggested around the supply zone of 1.1400. It is already running in profits. T/P levels should be placed at 1.1200 and 1.1070. S/L should be lowered to 1.1360.

Risky traders could have another valid SELL entry anywhere around the price zone of 1.1330-1.1360. It is already running in profits. Initial T/P levels should be located at 1.1250, 1.1150, and 1.1080.

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Technical analysis of GBP/USD for April 25, 2016

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Overview:

  • On the one-hour chart, the GBP/USD pair continues moving in a bullish trend from the support levels of 1.4413 and 1.4385. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), immediate support is seen at 1.4413, but the weekly strong support is found at 1.4328 that coincides with a golden ratio (61.8% of Fibonacci). Consequently, the first support is set at the level of 1.4413. So, the market is likely to show signs of a bullish trend around the spot of 1.4413. In other words, buy orders are recommended above the golden ratio (1.4413) with the first target at the level of 1.4526. Furthermore, if the trend is able to breakout through the first resistance level of 1.4526. We should see the pair climbing towards the double top (1.4649) to test it. Thus, the market is indicating a bullish opportunity above the support levels of 1.4328 and 1.4413, for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside. It would also be wise to consider where to place a stop loss; this should be set below the second support of 1.4328.
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EUR/NZD analysis for April 25, 2016

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Recently, EUR/NZD has been moving sideways at the price of 1.6370. According to the 1H time frame, I found flat base between the price of 1.6420 (resistance) and the price of 1.6290 (support). The short-term trend is still upward but anyway watch for a successful breakout of trading range to confirm further direction. I would like to see a breakout in a high volume and healthy price action to confirm the breakout. I also found, upward channel. I advice you to watch for a potential breakout of resistance (1.6420) to confirm further direction.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6405

R2: 1.6435

R3: 1.6480

Support levels:

S1: 1.6315

S2: 1.6280

S3: 1.6240

Trading recommendation for today: Watch for a potential breakout of resistance to confirm further upward movement. The short-term trend is bullish.

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Technical analysis of EUR/USD for April 25, 2016

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Overview:

  • The EUR/USD pair moved upwards from the level of 1.1217. Yesterday, the pair rose from the level of 1.1217 (this level represents a double bottom) to the top around 1.1238. Today, the first resistance level is seen at 1.1278 followed by 1.1339, while daily support 1 is seen at 1.1161. According to the previous events, the EUR/USD pair is still moving between the levels of 1.1220 and 1.1339; for that we expect a range of 129 pips. If the EUR/USD pair fails to break through the resistance level of 1.1278, the market will rise further to 1.1339. This would suggest a bullish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to continue higher towards at least 1.1395 with a view to test the double top in the H1 time frame. On the contrary, if a breakout takes place at the support level of 1.1217 (the double bottom) and 1.1161, then this scenario may become invalidated.

Intraday technical levels:

  • R3: 1.1517
  • R2: 1.1456
  • R1: 1.1339
  • PP: 1.1278
  • S1: 1.1161
  • S2: 1.1100
  • S3: 1.0983
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Gold analysis for April 25 , 2016

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Since our previous analysis, gold has been moving downwards. As I expected, the price tested the $1,227.28 level in a high volume. According to the daily time frame, I found strong downward pressure in a high volume. The bar closed at the low, which is a sign that buying looks very risky. According to the 30M time frame, I found a broken corrective upward channel, which is a sign that buying looks risky. I also found few no demand bars and that is a clear sign for me that there is no professional interest today for a higher price on Gold. Watch for selling opportunities. First take profit level is set at the price of $1.127.00.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,234.30

R2: 1,234.70

R3: 1,235.40

Support levels:

S1: 1,232.90

S2: 1,232.50

S3: 1,231.80

Trading recommendations for today: be careful when buying and watch for potential selling opportunities.

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Technical analysis of AUD/CHF for April 25, 2016

After breaking above the descending channel, AUD/CHF found the resistance near the final upside target - R1 (0.7590) of the Fibonacci applied to the channel breakout point.

The RSI Oscillator formed a bearish divergence and price could start moving much lower after rejecting the R1 resistance.

Consider selling AUD/CHF at the current level (0.7515) targeting S1 (0.7350), which is the downtrend trend line breakout level. The stop loss should be well above R1 (0.7590)

Support: 0.7350

Resistance: 7.7590

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Technical analysis of NZD/USD for April 25, 2016

After NZD/USD formed a massive support around 0.6550, rate started moving higher trading within the ascending channel. Last week, NZD/USD tested and rejected the upper trend line of the channel followed by the breakout of the 23.6% and 38.2% Fibonacci retracement levels.

At the same time, the RSI Oscillator bearish divergence is signaling on a potential trend reversal or strong correction down. Consider selling NZD/USD while rate is near S1 (0.6860), targeting either the lower channel trend line area near S3 (0.6740) or S4 (0.6665). The stop loss should be well above R1 (0.6935)

Support: 0.6860, 0.6800 0.6740, 0.6665

Resistance: 0.6935 0.7055

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Global macro overview for 25/04/2016

Global macro overview for 25/02/2016:

The US Federal Reserve will release the FOMC statement on Wednesday, April 27 at 06:00pm GMT. The market participants are not expecting a rate hike at this point, mainly because there is no press conference after the news release. In that case, the language of the statement will be closely scrutinized for clues about the June FOMC meeting ( this one is with the press conference). The Fed downgraded its rate hike expectations for 2016, justified by global headwinds that limited the US growth. So far employment remains the strongest pillar of the US economic recovery, but the job gains and the lowest unemployment claims in 42 years won't be enough to remove the opinion of the Fed 's members to vote for a rate hike until other economic indicators show improvement. In conclusion, in case of unexpected rate hike, the market environment might get very volatile, so it is worth to keep an eye on this event for sure.

Let's now take a look at the US Dollar index technical picture in the 4H time frame ahead of the FOMC meeting. The recent supply zone was fully tested and the market now is falling after a 128-pip rally. Nevertheless, as long as the level of 95.22 is clearly violated, bears are in control of this market. The next support is seen at the level of 94.77, and any break out below will support the bearish view.

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Global macro overview for 25/04/2016

Global macro overview for 25/02/2016:

This will be busy week for all the central banks and plenty of fundamental data from the Fed and BoJ is scheduled for release during the week. Moreover, first quarter GDP reports from the UK and US, together with inflation data from the eurozone and the US as well are ready to be released later on the week. The most anticipated event is surely the BoJ policy meeting and interest rate decision (on Thursday), because the BoJ is expected to announce new stimulus measures. The Fed announcement on Wednesday is the event to keep an eye on as well, mainly because the unexpected rate hike might cause a high volatility environment in financial markets. In conclusion, this seems to be the week to keep traders on their toes, so caution and proper money management are strongly advised.

Let's now take a look at the USD/JPY technical picture on the 4H time frame ahead of the BoJ meeting. The market has managed to break out above the technical resistance at the level of 110.62 and is now trading above the 61% Fibo at the level of 111.45. It looks like the bulls are in control over the market, but the green trend line hasn't been tested yet, so the bears might counter-attack any time now.

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Technical analysis of USDX for April 25, 2016

The Dollar index made a breakout on Friday to new short-term highs but still holds below the 95.20 important resistance. This resistance was once tested and prices got rejected. I believe we can see another attempt to break above it this week. I see fewer chances of new lows in the Dollar index.

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Black line - trend line resistance (broken)

The Dollar index needs to break above the recent high soon. The more time it takes to break it, the fewer chances it will have. The price is again above the Kumo. Support is at 94.40. Resistance remains at 95.20.

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Black line - trend line resistance (broken)

The Dollar index managed to break above the downward sloping trend line resistance last week. The price has reached the kijun-sen (yellow line indicator) and the short-term upward reversal has paused. A clear break above 95.20 will open the way for a move at least towards 96. This is where the next important resistance is found.

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Technical analysis of EUR/JPY for April 25, 2016

General overview for 25/04/2016:

The Elliott wave count has been little modified to incorporate the recent price action. Currently, the corrective cycle in wave 2 is expected, and the retracement can reach the projected level of 123.79 before any meaningful rally occurs. Please notice that the price is now trading inside of the neutral zone, but any breakout below the level of 123.36 will result in an immediate test of the recent local low at the level of 121.71.

Support/Resistance:

121.71 - Local Low

123.36 - Bearish Zone Level

123.79 - Projected Target for Wave 2

124.52 - Weekly Pivot

124.95 - Intraday Support

125.52 - Intraday Resistance

Trading recommendations:

Traders should now stay aside from the market and wait for the next trading setup to occur shortly.

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Technical analysis of Gold for April 25, 2016

Gold remains trapped inside the trading range of $1,270-$1,220. Gold bulls have tried to push higher for a breakout but were not strong enough. Technicals are deteriorating and I continue to remain bearish as long as the price is below the $1,270 false breakout high we made last week.

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Black lines - triangle

Gold price got rejected and made a false breakout last week which is a bearish sign. The price is below the 4-hour Kumo (cloud) again but also above the lower triangle boundary. Support is critical at $1,220. If broken, we should expect the price to move towards $1,190.

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At $1,190 we find the weekly Kumo support and the 38% Fibonacci retracement. Stochastic is turning lower from overbought levels. The price closed below the tenkan-sen (red line indicator) again last week and this confirms the weakness in the Gold price. I expect at least a pullback towards the weekly Kumo. The ideal target will be the kijun-sen (yellow line indicator) at $1,160 which coincides with the 50% retracement.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/CAD for April 25, 2016

General overview for 25/04/2016:

The market trades in the bearish zone, below the weekly pivot at the level of 1.2721 and below the intraday resistance at the level of 1.2749. The alternative count suggests that a more complex wave iv correction is still possible, however, any breakout above the intraday resistance at the level of 1.2749 would invalidate this scenario. The bullish divergence between the price and the momentum oscillator supports the view.

Support/Resistance:

1.3246 - WR3

1.3218 - Swing High

1.3118 - WR2

1.2989 - Technical Resistance

1.2852 - WR1

1.2749 - Intraday Resistance

1.2721 - Weekly Pivot

1.2591 - Intraday Support

1.2554 - WS1

Trading recommendations:

Currently traders should stay aside and wait for another setup to occur shortly.

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Technical analysis of USD/JPY for April 25, 2016

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USD/JPY is expected to trade in a higher range as the bias remains bullish. Last Friday US stocks were mixed while technology shares were weighed down by disappointing results. The Dow Jones Industrial Average edged up 0.1% to 18003, the S&P 500 was broadly flat at 2091, while the Nasdaq Composite dropped 0.8% to 4945.

Nymex crude oil gained 1.3% to $43.73 a barrel, gold settled down 1.6% at $1,230 an ounce, and the benchmark 10-year Treasury yield climbed further to 1.888% from 1.870% Thursday.

On the forex front, USD/JPY surged 2.1% to a 3-week high of 111.78 last Friday as it was reported that the Bank of Japan would expand the negative interest-rate policy it initiated in January. The Wall Street Journal Dollar Index then rose 0.6% to 86.70.

Meanwhile, the euro continued to weaken following comments made by European Central Bank President Mario Draghi on Thursday, who hinted at possible further rate cuts. EUR/USD slid another 0.5% to 1.1230.

At the same time, GBP/USD rebounded 0.6% to 1.4401 as betting odds and polls pointed to lower chances of "Brexit".

Commodities-linked currencies were mixed, as USD/CAD declined 0.5% to 1.2668, while AUD/USD dropped 0.4% to 0.7703 and NZD/USD was down 0.9% to 0.6848.The pair rose to 111.80 before entering a consolidation last Friday. Currently it is trading below the 20-period (30-minute chart) moving average, which still stands above the 50-period one. And the intraday relative strength index has crossed below the neutrality level of 50, indicating downward momentum and the possibility of a further consolidation. However, as long as the level of 110.75 (a key resistance seen last Friday, the breaking of which led to the latest upleg) holds as the key support, the intraday outlook remains bullish and the pair is expected to challenge the first upside target at 111.80.

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 111.80 and the second one, at 112.45. In the alternative scenario, short positions are recommended with the first target at 110.25 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 109.90. The pivot point is at 110.75.

Resistance levels: 111.80, 112.45, 112.90

Support levels: 110.25, 109.90, 109.15

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Technical analysis of USD/CHF for April 25, 2016

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USD/CHF is expected to trade with a bullish bias and looking forward for a target at 0.9800. The pair resumed its bullish trend and is now heading upward, supported by its rising 20-period moving average. Meanwhile, the relative strength index stands firmly above 50. Furthermore, a strong support base has formed around 0.9725, which should limit any downward attempts. Hence, as long as 0.9725 is not broken, look for further advance to 0.9800 and 0.9845 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 0.98 and the second one, at 0.9845. In the alternative scenario, short positions are recommended with the first target at 0.9695 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 0.9645. The pivot point is at 0.9725.

Resistance levels: 0.9800, 0.9845, 0.9890

Support levels: 0.9695, 0.9645, 0.9600

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Technical analysis of GBP/JPY for April 25, 2016

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GBP/JPY is expected to trade with a bullish bias above 159.45. The pair remains bullish above its nearest support at 159.45. The sequence of higher highs and lows remains intact, which should confirm a positive outlook. In addition, the rising 50-period moving average still acts as support. Hence, as long as 159.45 is not broken, an advance to 161.95 and 162.55 is likely.

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 161.95 and the second one, at 162.55. In the alternative scenario, short positions are recommended with the first target at 158.30 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 157.05. The pivot point is at 159.45.

Resistance levels: 161.95, 162.55, 163.35

Support levels: 158.30, 157.05, 156.10

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Technical analysis of NZD/USD for April 25, 2016

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NZD/USD is expected to trade with a bearish bias as the pair is capped by a negative trend line. The pair stays below its key resistance at 0.6820 and is also capped by a negative trend line. Meanwhile, the relative strength index remains below its neutrality area at 50. Even though a technical rebound is possible, its extent should be limited. The first target to the downside is therefore set at 0.6820. A break below this level would open way to further weakness toward the horizontal support at 0.6790.

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 0.6820. A break of this target will move the pair further downwards to 0.6790. The pivot point stands at 0.6900. 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 0.6935 and the second target at 0.6980.

Resistance levels: 0.6935, 0.6980, 0.7025

Support levels: 0.6820, 0.6790, 0.6775

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Elliott wave analysis of EUR/NZD for April 25 - 2016

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Wave summary:

The rally of the 1.6063 low is doing okay. We are not yet at a stage where we can say with a high degree of certainty that a long-term bottom is in place. We do expect this, but still need a break above important resistance at 1.6499 that will call for more upside pressure towards 1.6830 and higher.

Short-term support is seen at 1.6329 with back-up support seen at 1.6274.

Trading recommendation:

We are long in EUR from 1.6105 and will move our stop higher to 1.6270 locking in a nice profit already. If you are not long in EUR yet, then buy near 1.6329 and use the same stop at 1.6270.

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Elliott wave analysis of EUR/JPY for April 25 - 2016

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Wave summary:

We continue to look for more upside pressure towards the 127.77 target as red wave iii. However, in the long term a strong test of the 128.22 high is expected and if this resistance breaks, then a long-term bottom at 121.69 will be confirmed and a return to strong resistance at 141.06 should be seen.

Short-term support is found at 124.27 and back-up support is seen just below at 124.09.

Trading recommendation:

We are long in EUR from 124.40 and will move our stop higher to 124.05. If you are not long in EUR yet, then buy near 124.27 and use the same stop at 124.05

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Technical analysis of EUR/USD for April 25, 2016

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When the European market opens, some economic news will be released such as Belgian NBB Business Climate, German Ifo Business Climate. The US will release economic data too such as New Home Sales. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1285.

Strong Resistance: 1.1279.

Original Resistance: 1.1268.

Inner Sell Area: 1.1257.

Target Inner Area: 1.1231.

Inner Buy Area: 1.1205.

Original Support: 1.1194.

Strong Support: 1.1183.

Breakout SELL Level: 1.1177.

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 25, 2016

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In Asia, Japan will release the SPPI y/y and the US will release some economic data such as New Home Sales. So there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Resistance. 3: 111.83.

Resistance. 2: 111.61.

Resistance. 1: 111.39.

Support. 1: 111.12.

Support. 2: 110.91.

Support. 3: 110.69.

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 April 25, 2016

EUR/USD: The bulls tried seriously to push this pair upwards, but following the volatility we witnessed here last week on Thursday, the price came down on Friday. This has resulted in a "sell" signal in the market – further bearish movement is possible this week. But this does not rule out the possibility of an upward bounce, which might not threaten the current "sell" signal unless the resistance level at 1.1450 is overcome by the bulls.

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USD/CHF: The bears threatened to push the USD/CHF pair lower, but their effort was thwarted on Wednesday as the price started moving upwards. This has resulted in a Bullish Confirmation Pattern in the market. The price, which closed above the support level at 0.9750, would reach the resistance levels at 0.9800 and 0.9850 this week. The only hindrance to this bullish bias would be an expected rally on CHF, which might affect CHF pairs.

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GBP/USD: As it was forecasted at the beginning of last week, GBP was able to rally against some majors, as witnessed on GBP/CHF, GBP/NZD, EUR/GBP, GBP/JPY etc. GBP/USD was also able to rally last week, starting from the accumulation territory at 1.4150 and reaching the distribution territory at 1.4450. This is a movement of 300 pips, and further bullish journey is possible this week. It is also possible on GBP pairs.

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USD/JPY: Following the minor gap down into the demand level at 108.00 at the beginning of last week, this currency trading instrument started a bullish journey, which occurred gradually and gained momentum on Friday, April 22, 2016. The price closed above the demand level at 111.50; poised for further northward movement, which would be at least 150 pips this week. As an aside, JPY pairs might also be weakened before the end of the month. Please watch JPY pairs.

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EUR/JPY: There is now a Bullish Confirmation Pattern on the EUR/JPY chart. The price moved upwards by 360 pips last week, and it could move further upwards this week. Short trades are no longer advisable here until there is an indication of the bears' hegemony, which is possible before the end of April 2016.

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Daily analysis of DAX for April 25, 2016

The DAX is trapped inside a bullish sideways consolidation above the support zone of 120291, but the overall outlook is still there, as the Index's price action is moving in favor of the bulls in the short-term picture. If the DAX succeeds in breaking the pivot point level of 10423, then it can rally toward the 10503 level.

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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 10423, take profit is at 10503, and stop loss is at 10342.

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

Daily analysis of S&P 500 for April 25, 2016

The H1 chart structure on this Index is telling us about a possible bullish advance in order to re-test the April 20th highs. However, we saw that the S&P 500 did a rebound above the support zone of 2080, where a bullish trend line is located, that is supporting the Index at present. The RSI indicator is in neutral territory and this could be a sign of possible uncertainty during this week on S&P 500.

SPXH1.png

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the S&P 500 breaks a bullish candlestick; the resistance level is at 2094.7, take profit is at 2101.1, and stop loss is at 2088.4.

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

Daily analysis of USDX for April 25, 2016

USDX is doing a bullish consolidation and the overall scenario is turning sideways, as the Index is still trapped inside a range below the resistance level of 95.18. However, if USDX does a breakout above it, then we can expect another rally toward the 95.52 price zone, where the Index could take a rest before further bullish advances.

USDXH1.png

H1 chart's resistance levels: 95.18 / 95.52

H1 chart's support levels: 95.01 / 94.85

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 95.18, take profit is at 95.52, and stop loss is at 94.85.

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

Daily analysis of GBP/USD for April 25, 2016

The Cable is trying to break a key supply zone in the upside trend, as it has been trading above the support level of 1.4318, which served as a strong bottom in a short-term basis. However, during this week, there will be a huge challenge for the buyers, as the 1.4400 psychological zone is solid and if GBP/USD succeeds in breaking that level, then it could rally to the 1.4495 level.

GBPUSDH1.png

H1 chart's resistance levels: 1.4401 / 1.4495

H1 chart's support levels: 1.4318 / 1.4278

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 1.4401, take profit is at 1.4495 and stop loss is at 1.4303.

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