USD/CAD intraday technical levels and trading recommendations for September 19, 2016

analytics57dfee3eaa90e.pnganalytics57dfee4ad6ffe.png

On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations.

On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.

Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) was needed to enhance bearish momentum in the market.

However, recent signs of bullish recovery were manifested around the price level of 1.2830 on August 18.

Conservative traders should consider the current bullish pullback towards 1.3000-1.3100 (61.8% Fibonacci level) as a valid SELL entry. S/L should be set as a daily candlestick closure above 1.3100.

Daily persistence below 1.2950 (61.8% Fibonacci level) should be achieved in order to enhance the bearish side of the market. Initial bearish targets are located at 1.2670 and 1.2580.

On the other hand, note that daily fixation above 1.3000 (61.8% Fibonacci level) opens the way towards the price level of 1.3300 (50% Fibonacci level) where price action should be watched for a better SELL entry with a lower risk/reward ratio.

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

NZD/USD Intraday technical levels and trading recommendations for September 19, 2016

analytics57dfeb1c86122.png

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

In February and March, signs of bearish rejection (triple-top reversal pattern) were expressed around the price level of 0.6750 until April when a bullish breakout above 0.6750 and 0.6860 was executed.

Later on May 6, daily candlestick closure below the 0.6850 level enhanced a quick bearish movement towards 0.6750 where bullish rejection was expected to be applied. However, obvious bearish closure below 0.6750 was achieved on May 24.

On May 30, obvious bullish rejection was expressed around the price level of 0.6675 (lower limit of the depicted channel). That is why, the recent bullish breakout is taking place above 0.6860.

As long as the NZD/USD pair kept trading above 0.6860, further bullish advance was expected towards the upper limit of the depicted channel around 0.7400.

On July 12, the price zone of 0.7350 - 0.7400 (upper limit of the depicted channel) enhanced a quick bearish decline towards the price levels of 0.6960 where the current bullish swing was initiated.

Recently, the price zone between 0.7470-0.7500 corresponded to the upper limit of the depicted movement channel where bearish rejection and a valid SELL entry were expressed by the end of last week.

S/L should be placed above 0.7550. T/P levels should be located at 0.7240, 0.7160 and 0.7060.

On the other hand, the price zone between 0.6960-0.6860 constitutes a significant support zone to be watched for a valid BUY entry if the current bearish swing extends below 0.7100.

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

Intraday technical levels and trading recommendations for GBP/USD for September 19, 2016

analytics57dfe673ae086.pnganalytics57dfe885d1b4b.png

Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market.

However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur.

The prominent demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection and a bullish engulfing weekly candlestick on February 26.

Bullish fixation above 1.4670 allowed further bullish advancement initially towards 1.4950 (Weekly Supply) where significant bearish rejection was expressed.

The price zone between 1.3845 and 1.3550 (Historical bottoms in January 2009) was considered a significant demand zone to be watched for bullish recovery.

However, by the end of June, a significant bearish breakdown below 1.3550 was expressed as seen on the depicted charts (Due to Fundamental reasons).

Bearish persistence below the demand level at 1.3550 enhances the bearish scenario towards 1.2700 (the nearest bearish projection target) where price action should be watched for a possible short-term BUY entry.

On the other hand, the price zone of 1.3845-1.4040 constitutes the recent supply zone to be watched for new SELL entries if the current bullish pullback extends above 1.3550 (Significant Supply level to be watched for sell entries as well).

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

Intraday technical levels and trading recommendations for EUR/USD for September 19, 2016

analytics57dfe6625bbf1.png

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

In March 2015, the EUR/USD bears challenged the next monthly demand level around 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. However, next monthly candlesticks (September, October, and November) reflected a strong bearish rejection around the area of 1.1400-1.1500.

In February 2016, the depicted price levels around 1.1400-1.1500 acted as a significant supply zone during the bullish pullback.

That is why, recent bearish rejection was expected around the current price levels (note the monthly candlesticks of May, June and August).

In the long term, the level of 0.9450 will remain a projected bearish target if the current monthly candlestick comes to close below the depicted monthly demand level of 1.0570.

On the other hand, note that a monthly candlestick closure above 1.1400 invalidates this bearish outlook on an intermediate-term basis (low probability).

analytics57dfe66dc8601.png

Accordng to the monthly chart, the long-term outlook for the EUR/USD pair remains bearish. Bearish fixation below 1.1000 is needed to enhance this bearish scenario.

On July 27, the EUR/USD pushed above the price zone of 1.1000-1.0950 (previous consolidation range). Hence, further bullish advance towards 1.1250 was executed as expected.

Temporary bullish breakout was expressed above the price zone of 1.1250 (supply level 1). However, significant bearish rejection was seen on August 26.

On September 6, evident bullish recovery and a temporary bullish breakout above 1.1250 were expressed, but on Friday evident bearish pressure was put on the pair.

The current bearish closure below 1.1250 (supply level 1) should be defended to maintain enough bearish pressure and enhance the bearish side in the market. Initial bearish targets are be located at 1.1050 and 1.0990.

On the other hand, the price level of 1.1400 constitutes another supply level to be watched for a valid SELL entry if bullish breakout persists above 1.1250 (low probability). S/L should be set as daily closure above 1.1450.

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

Technical analysis of GBP/CHF for September 19, 2016

GBP/CHF is trading in the range within a slightly descending channel. The pair started to decline after a clean bounce off the upper channel trendline on the 6th of September where 1.3100 psychological resistance was rejected.

GBP/CHF broke below 50 and 200 Moving average signaling potential strength of a downtrend. Currently it is testing the resistance at 50% Fibs (1.2826), where 200 Moving Average is also showing resistance.

With overall weakness of the pair, consider selling GBP/CHF while the rate is near 1.2826 resistance, targeting either a potential double bottom near 38.2% Fibs (1.2735) or 23.6% Fibs (1.2623) which also corresponds with the descending channel breakout level. Stop loss should be placed not lower than 61.8% Fibs (1.2916).

Support: 1.2735, 1.2623

Resistance: 1.2825, 1.2916

GBPCHF_INSTA.png

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

Technical analysis of AUD/NZD for September 19, 2016

After an extended downtrend, AUD/NZD is showing signs of strength while forming bullish divergence. At the same time, the pair broke above the 50 Moving Average with a confirmed close above it.

The Fibonacci applied to the channel breakout point shows that price found the support at 23.6% (1.0280) on the 7th of September which later was broken. This could mean that the longer term downtrend is not over yet but correction up can be expected.

Consider buying AUD/NZD on small corrections down near 1.0300 psychological level, targeting one of the Fibs resistances. The first is at 38.2% (1.0370), the second one is 50% (1.0440), and the third one is 61.8% (1.0510). Stop loss should be below the lowest low at 1.0237.

Support: 1.0280

Resistance: 1.0370, 1.0440, 1.0510

AUDNZD_INSTA.png

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

Gold analysis for September 19, 2016

analytics57dfd7418cd04.png

Since our previous analysis, gold has been trading sideways at the price of $1,314.15. According the 30M time frame and using the market profile, I found point of control at the price of $1,314.50. I found strength in Asian sesion, which is a sign that sellers lost power. Watch for potential buying opportunities. Next point of control levels are set at the price of $1,321.30 - $1,322.30.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,315.30

R2: 1,316.00

R3: 1,317.10

Support levels:

S1: 1,313.20

S2: 1,312.50

S3: 1,311.40

Trading recommendations for today: Strength came in on the market. Be careful when selling Gold at this stage and watch for potential buying opporutnties.

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

EUR/NZD analysis for September 19, 2016

analytics57dfd46b61e6a.png

Recently, EUR/NZD has been moving downward. The price tested the level of 1.5232 in an average volume. According to the 30M time frame and using the market profile, I found a point of control levels at the price of 1.5267. The price broke upward trend channel and buying EUR/NZD at this stage looks risky. Watch for potential selling opportuntiies on the pullbacks. Take profit level is set at the price of 1.5080.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5375

R2: 1.5390

R3: 1.5410

Support levels:

S1: 1.5330

S2: 1.5315

S3: 1.5295

Trading recommendations for today: Buying EUR/NZD at this stage looks risky. Watch for selling opportunities

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

EUR/USD Technical Analysis for September 19, 2016.

Technical outlook and chart setups:

The EUR/USD pair hit the first expected target at 1.1150 levels as expected, on Friday last. Please note that further downside remains at 1.1120 levels as depicted here, before a meaningful retracement could be expected. Please note that the pair could rally through 1.1180/85 levels before dropping lower or it could continue slipping from here. The wave structure indicates that bears should remain in control till prices stay below 1.1280 levels going forward. It is still recommended to hold short positions or initiate fresh, with risk reduced to 1.1280 levels. Immediate resistance is seen at 1.1280 levels, while support is at 1.1120 levels respectively.

Trading recommendations:

Remain short now, stop above 1.1280 levels, target 1.1120 at least.

Good luck!

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

Silver Technical Analysis for September 19, 2016.

Technical outlook and chart setups:

Silver had broken off the triangle consolidation on Friday last, dropped towards the last leg lower at $18.65 levels, before pulling back sharply. The metal is seen to be trading at $19.09 levels, looking to push towards $19.30 levels at least before producing a meaningful retracement lower. The wave structure indicates that Silver is setting up for a push through $19.60/70 levels at least. Meanwhile, a push through $20.10/20 levels would confirm that Silver is headed towards fresh highs. It is hence recommended to continue holding long positions now, with risk at $18.00 levels. Immediate support is seen through $18.60 levels, while resistance is at $20.10/20 levels respectively. The rally from $18.65 levels is looking to complete an impulse with another push higher above $19.16 going forward.

Trading recommendations:

Remain long now, stop at $18.00, target is open.

Good luck!

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

Gold Technical Analysis for September 19, 2016.

Technical outlook and chart setups:

Gold had dropped lower towards $1,306.00 levels last week, before pulling back higher. The yellow metal is seen to be trading at $1,313.00 levels at this moment, looking to form a base here before resuming its rally. Please note that the metal has bounced off the vicinity of fibonacci 0.786 support levels of the recent rally between $1,302.00 through $1,352.00 levels respectively. Furthermore, the back side of its resistance trendline provided necessary support. The wave structure still looks constructive for bulls, till prices remain above $1,302.00 levels going forward. It is hence recommended to remain long with risk at $1,302.00 levels for now. Potential still remains for bulls to take control from here. Please note that the metal looks to be into its last leg (wave 5) rally and it is expected to reverse lower from close to $1,380.00/90.00 levels going forward.

Trading recommendations:

Remain long now, stop at below $1,302.00; target is $1,375.00 at least.

Good luck!

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

Technical analysis of GBP/USD for September 19, 2016

GBPUSDH4.png

Overview:

  • The GBP/USD pair continues to move downwards from the areas of 1.3154 and 1.3086. Last week, the pair dropped from the level of 1.3154 to 1.3000, which coincides with a ratio of 23.6% Fibonacci on the H4 chart. Today, resistance is seen at the levels of 1.3154 and 1.3086. So, we expect the price to set below the strong resistance at the levels of 1.3086 and 1.3154 this week; because the price is in a bearish channel now. Amid the previous events, the price is still moving between the levels of 1.3086 and 1.2933. In overall, we still prefer the bearish scenario as long as the price is below the level of 1.3086. Furthermore, if the GBP/USD pair is able to break out the bottom at 1.3000, the market will decline further to 1.2933. The price will fall into a bearish trend in order to go further towards the strong support at 1.2933 to test it again. The level of 1.2865 will form a double bottom. On the other hand, if the price closes above the strong resistance of 1.3154, the best location for a stop loss order is seen above 1.3180.
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/USD for September 19, 2016

1474274967_EURUSDH1.png

Overview:

  • The EUR/USD pair continues to move downwards from the level of 1.1173. The pair dropped from the level of 1.1173 (this level of 1.1173 coincides with the double top) to the bottom around 1.1150. Right now, the first resistance level is seen at 1.1173 followed by 1.1201, while daily support 1 is found at 1.1127. Amid the previous events, the pair is still in a downtrend, because the EUR/USD pair is trading in a bearish trend from the new resistance line of 1.1173 towards the first support level at 1.1127 in order to test it. If the pair succeeds to pass through the level of 1.1127, the market will indicate a bearish opportunity below the level of 1.1105. Also, it should be noted that the RSI is still signaling that the trend is downward as it is still strong below the moving average (100). This suggests the pair will probably go down in coming hours. However, if a breakout happens at the resistance level of 1.1201, then this scenario may be invalidated.
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of GBP/JPY for September 19, 2016

GBPJPYM30.png

GBP/JPY is expected to trade in a lower range. The technical picture of the pair remains bearish. The pair is trading below its declining 50-period moving average, which acts as a resistance role and maintains the downside bias. The relative strength index is below its neutrality level at 50. Additionally, 134.05 is playing a key resistance role, which should limit the upside potential. Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited. As long as 134.05 holds on the upside, the pair is likely to return to the previous low at 132.35. A break below this level would call for a further decline toward 131.90.

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 132.35. A break below this target will move the pair further downwards to 131.90. The pivot point stands at 134.05. 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 134.60 and the second one, at 135.20.

Resistance levels: 134.60, 135.20, 136.65

Support levels: 132.35, 131.90, 131

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

Global macro overview for 19/09/2016

Global macro overview for 19/09/2016:

Today's economic calendar lacks important macroeconomic news, but the Current Account report from the eurozone deserves attention. It is worth mentioning, that in the June update, the unadjusted account surplus jumped to 37.6 billion Euro, the highest so far this year and close to a record since the euro was launched. For this month market participants expect lower reading than a month ago (27.2 billion Euro vs. 28.2 billion Euro prior). In conclusion, the single currency bloc continues to struggle with an unwelcome strengthening in the Euro despite the efforts from the ECB.

Let's now take a look at the EUR/NZD technical picture in the daily time frame. After another lower low at the level of 1.4871, the market reversed and now is trading at 38%Fibo retracement of the last swing high. The 200 DMA has been violated, but 100 and 55 periods moving averages are still ready to provide the support for bulls. The larger time frame trend is rather sideways and horizontal than bullish but any rally attempt above the 1.4871 level might change the near-term outlook to bullish.

analytics57df9913a4d2a.jpg

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

Global macro overview for 19/09/2016

Global macro overview for 19/09/2016:

The inflation data from US were published last Friday and they surprised market participants. According to the US Bureau of Labor Statistics, the Consumer Price Index increased 0.2%, while investors anticipated only 0.1% acceleration after 0.0% figure a month ago. Moreover, on an annual basis, the inflation accelerated 1.1% from 0.8% in July. The Core CPI readings advanced 0.3% on a monthly basis in August after rising 0.1% in July, which was again more than market expectations of a 0.2% increase. In conclusion, this inflation growth is good news for FED and for sure it will be taken into account at FED's meeting this Tuesday and Wednesday.

Let's now take a look at the EUR/USD technical picture in the 4H time frame. The market is trading below the intraday resistance at the level of 1.1197, but the key support at the level of 1.1120. hasn't been tested yet. Moreover, it looks like the market has done another lower high, so the immediate trading bias is now skewed to the downside.

analytics57df922382708.jpg

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

Technical analysis of USDX for September 19, 2016

Last week, the Dollar index broke above the trend line resistance and the short-term trading range. Short-term resistance level of 95.70 was broken and gave a short-term bullish signal. However price remains below critical resistance of 96.50-97.10.

analytics57df8b676b50d.jpg

Blue line - long-term supportGreen line - short-term support

Black line - short-term resistance (broken)

The Dollar index was holding above the long-term support trend line at 94.60-94.80 area and produced a bullish reversal that broke above the black trend line resistance. Holding above the green trend line support is important for the short-term bullish trend. Support is at 95.30. Resistance is at 96.10 for the short term and 96.60-97.10 for the long term.

analytics57df8c1de0b48.jpg

The weekly candle remains below the weekly cloud where resistance is found at 96.60-97.10. With lots of central banks meetings this week, it is very important to keep focus on the longer-term important price levels like 97.10 above.94.70 below as there will be an increase in volatility and traders could be misled. Patience and caution is advised specially this week. A rejection at the 96.60-97.10 area will be a reversal signal that will increase the chances of breaking support at 94.70 and pushing the index lower towards 92.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/CAD for September 19, 2016

General overview for 19/09/2016:

The current situation at this pair is that straightforward and the main count is evolving towards another complex corrective structure, possibly triple-three pattern. The intraday count still suggests a deeper decline towards the level of 1.3030 and then a possible rebound higher. The intraday resistance at the level of 1.3252 is still the key level for bulls and any break higher will immediately invalidate current wave developments.

Support/Resistance:

1.3252 - Intraday Resistnace

1.3178 - Weekly Pivot

1.3124 - Intraday Support

1.3106 - WS1

1.3030 - Techncial Support

1.2962 - WS2

Trading recommendations:

Day traders should consider opening sell orders from current price levels with SL just above the level of 1.3253 and TP at the level of 1.3030.

analytics57df8c043ebc4.jpg

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

Technical analysis of Gold for September 19, 2016

Gold price is showing signs of a short-term trend reversal. Gold is in a downtrend channel since September 7th and has approached the lower trading range boundary of $1,300. Gold bulls are now trying to break out of the short-term bearish channel.

analytics57df89a4a1c98.jpg

Red lines - bearish short-term channel

Blue lines - long-term trading range

Gold price remains below the 4-hour Ichimoku cloud. Short- and medium-term support is at $1,300-$1,305. Resistance is at $1,330 and next at $1,360. Medium-term trend is neutral as price remains inside the long-term trading range. As long as Gold is above $1,300 I prefer long positions with a tight stop.

analytics57df8a41398de.jpg

On a daily basis Gold is inside the Kumo (cloud) implying trend is neutral. This is confirmed technically also by the trading range in effect. Price has reached the 38% medium-term Fibonacci retracement and the short-term 78.6% Fibonacci retracement. If Gold is going to start a new upward move it will be from this area. Otherwise we should prepare for a sell-off towards $1,250-$1,260 at first and then even deeper towards $1,200-$1,180.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/JPY for Septenber 19, 2016

General overview for 19/09/2016:

There are two possible scenarios for this time frame: main impulsive scenario and alternative corrective scenario. The main scenario is a typical, impulsive wave progression count and within this count we can see a possible abc irregular flat corrective cycle with invalidation line at the level of 113.81. The alternative scenario indicates a possible triangle structure in wave (b) and within this count the wave e of the triangle is about to complete. Moreover, the market is trading now at the golden trend line support around the level of 114.00, so upward price action is anticipated here as well.

Support/Resistance:

112.92 - WS1

113.81 - Intraday Support

114.00 - Golden Trend Line Support

114.29 - Intraday Resistance

114.49 - Weekly Pivot

115.04 - WR1

116.36 - Local Swing High

Trading recommendations:

Day traders should consider opening buy orders from current price levels with SL just below the level of 113.80 and TP open for now.

analytics57df894095e57.jpg

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

Elliott wave analysis of EUR/NZD for September 19, 2016

analytics57df8225e8dab.png

Wave Summary:

We have seen the expected decline from 1.5507 and is looking for a strong break below support at 1.5217 to confirm that the final leg lower in the ending diagonal towards 1.4705 is unfolding.

Short term, resistance is seen at 1.5353. This resistance will ideally be able to protect the upside for a continuation lower to 1.4989 on the way towards 1.4705.

Only a break above resistance at 1.5391 will question the potential downside.

Trading recommendation:

We also missed out sell order at 1.5435. We will place two new sell orders. We will sell at 1.5345 with stop placed at 1.5400. Or we will sell a break below support at 1.5217 and place stop at 1.5380 (one order done cancels the other).

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

Elliott wave analysis of EUR/JPY for September 19, 2016

analytics57df7ff76f11c.png

Wave Summary:

The break below 113.90 is disappointing and has invalidate the 1-2 / 1-2 option. Instead it keeps the two main options firmly alive. As long as support at 113.11 act as a strong floor, the preferred count remains, that a new impulsive rally is developing from 109.49. However, the alternative count shows a triangle consolidation has been unfolding since the 109.49 low and wave E just completed with the test of 116.37. If this outlook is correct then important support at 113.11 soon will be taken out for a continuation lower to at least 111.94 and possibly even lower to 109.37 before a more substantial correction should be expected.

Trading recommendation:

Our stop at 113.85 was hit. We will place a buy order and a sell order. We will buy a break above 114.30 or we will sell a break below 113.11 (one order done cancels the other).

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

Daily analysis of major pairs for September 19, 2016

EUR/USD: Had this pair moved sideways from September 12 to 16, the bias on it would have turned neutral. However, the market dropped 85 pips on Friday, closing at 1.1153. This has resulted in a bearish signal. As long as the resistance line at 1.1300 is not breached to the upside, the bearish signal would be valid.

1474263725_1.png

USD/CHF: This currency trading instrument consolidated from Monday till Thursday and then trended upwards on Friday. The upwards movement was not significant enough to put an end to the ongoing neutral outlook. Once price goes above the resistance level at 0.9850, there would be a bullish signal, which would even become stronger as soon as the resistance level at 0.9900 is breached to the upside.

2.png

GBP/USD: The GBP/USD pair trended downwards slowly last week, and later dropped like a stone on Friday, September 16, 2016. The bias is bearish in the short term and the long term. Price is thus expected to continue moving downwards this week, reaching the accumulation territories at 1.2950 and 1.2900. GBP pairs, except EUR/GBP, have also been going downwards.

3.png

USD/JPY: This pair simply consolidated throughout last week, not going below the demand level at 101.50 nor above the supply level at 103.50. The bias is neutral, but momentum is expected to rise this week, which would most probably take price towards the demand levels at 101.50 and 101.00 this week.

4.png

EUR/JPY: This cross pair trended downwards on Monday, and went upwards on Tuesday, only to top at 116.08 on Wednesday and began to trend downwards till Friday (a movement of 200 pips southward). There is a Bearish Confirmation Pattern in the market and the demand zones at 114.00, 113.50, and 113.00 would be tested this week. The outlook on other JPY pairs is also bearish.

5.png

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

Technical analysis of EUR/USD for Sept 19, 2016

!!!_EURUSD.jpg

When the European market opens, some economic data will be released such as eurozone's Current Account. The US will release the economic data too such as NAHB Housing Market Index. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1208.

Strong Resistance:1.1202.

Original Resistance: 1.1191.

Inner Sell Area: 1.1180.

Target Inner Area: 1.1154.

Inner Buy Area: 1.1128.

Original Support: 1.1117.

Strong Support: 1.1106.

Breakout SELL Level: 1.1100.

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 Sept 19, 2016

!_USD_JPY.jpg

In Asia, today Japan will not release any economic data. However, the US will release some economic data such as NAHB Housing Market Index. 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: 102.69.

Resistance. 2: 102.49.

Resistance. 1: 102.29.

Support. 1: 102.04.

Support. 2: 101.84.

Support. 3: 101.63.

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 GBP/USD for September 19, 2016

USDX had a strong rally last Friday and now we're seeing a consolidation above the 200 SMA on H1 chart. Currently, the index is facing the resistance zone of 96.14, which is the last hurdle before to reach the 96.50 level on a short-term basis. We should note that the USDX already did a rebound above the dynamic support offered by the 200-hour moving average and gave it a fresh momentum to the upside.

USDXH1.png

H1 chart's resistance levels: 96.14 / 96.51

H1 chart's support levels: 95.79 / 95.49

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 96.14, take profit is at 96.51 and stop loss is at 95.76.

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

Daily analysis of GBP/USD for September 19, 2016

GBP/USD is very weak. The breakout below the 1.3000 psychological level is opening the doors to test post-Brexit's lows. There is also a consolidation below the 200 SMA on H1 chart ongoing. Next support to challenge lies at the 1.2948 level, while a strong resistance can be seen at the 1.3116 level. MACD indicator is on negative territory, supporting the bearish idea.

GBPUSDH1.png

H1 chart's resistance levels: 1.3037 / 1.3116

H1 chart's support levels: 1.2948 / 1.2868

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2948, take profit is at 1.2868 and stop loss is at 1.3029.

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