Gold analysis for January 25, 2017

analytics5888b86b3405b.png

Recently, gold has been trading downwards. As I expected, the price tested the level of $1,193.60. According to the 30M time frame, I found bearish divergence on a Moving Average Oscilator, which is a sign of weakness. My advice is to watch for selling opportunities on the pullbacks. Downward targets are set at the price of $1,188.60 and $1,177.60. The short-term trend is downward.

Resistance levels:

R1: 1,216.65

R2: 1,219.30

R3: 1,233.65

Support levels:

S1: 1,208.00

S2: 1,205.40

S3: 1,201.05

Trading recommendations for today: Watch for potential selling opportunities.

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

EUR/NZD analysis for January 25, 2017

analytics5888b6abd9447.png

Recently, EUR/NZD has been trading sideways at the price of 1.4820. According to the 15M time frame, I found hidden bearish divergence on the moving average oscilator. My advice is to watch for potential selling opportunities. A downward target is set at the price of 1.4767. The overall trend is still downward.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4866

R2: 1.4890

R3: 1.4930

Support levels:

S1: 1.4780

S2: 1.4760

S3: 1.4720

Trading recommendations for today: watch for potential selling opportunities.

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

USD/CAD intraday technical levels and trading recommendations for January 25, 2017

analytics5888a1766bf88.pnganalytics5888a18370a54.png

The USD/CAD pair was trapped between the price levels of 1.3000 (61.8% Fibonacci level) and 1.3360 (50% Fibonacci level) until a bullish breakout took place one month ago.

The pair challenged the upper limit of the depicted channel around 1.3360-1.3400 which succeeded to apply enough bearish pressure on the pair.

Shortly after, a bearish engulfing weekly candlestick was expressed by the end of the week indicating strong resistance around 1.3550.

Bearish persistence below the price level of 1.3300 (50% Fibonacci Level) was achieved.

This allowed a further decline toward 1.3200 and 1.3080 (the lower limit of the depicted channel) where bullish rejection was expressed as anticipated.

A bullish breakout above 1.3360 (50% Fibonacci level) was expected to allow a further advance toward 1.3700-1.3750 (the upper limit of the depicted channel). However, significant bearish rejection was expressed around 1.3580 (recent established top).

The price level of 1.3300 (50% Fibonacci Level) failed to provide enough support for the recent bearish pullback.

That's why, the recent bearish pullback toward 1.3000 (61.8% Fibonacci level) offered a valid BUY entry as expected in previous articles.

This week, a bullish breakout above 1.3300 (50% Fibonacci Level) is needed to enhance bullish advance toward 1.3440 and 1.3550. Otherwise, the USD/CAD pair remains trapped within the current consolidation range (1.3000-1.3300).

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

NZD/USD Intraday technical levels and trading recommendations for January 25, 2017

analytics588895de99e5e.png

On November 8, significant signs of a bearish reversal were expressed around the upper limit of the depicted consolidation range (0.7350).

A bearish breakdown of 0.7250 (the lower limit of the depicted range) enhanced the bearish side of the market toward the price level of 0.7100 (recent bottom of October 28) which was broken as well.

Bearish persistence below 0.7100 allowed a quick decline toward 0.6960 (BUY zone) where bullish rejection and a valid BUY entry were expected. All T/P levels were successfully achieved.

Once again, bearish persistence below the price level of 0.7100 enabled the NZD/USD pair to pursue toward lower target levels around 0.6990 (the upper limit of the depicted BUY zone).

The price level of 0.6990 failed to apply enough bullish pressure. Instead of that, bearish movement continued toward the lower limit of the depicted BUY zone (0.6860) which provided significant bullish rejection on December 23.

The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

A bullish breakout above 0.7000 allowed the pair to head toward the price level of 0.7100 (Key-Level) which failed to provide sufficient bearish pressure on the pair.

Instead, bullish persistence above 0.7100 (Key-Level) allows further bullish advance toward 0.7250 (SELL-ENTRY) where a valid SELL entry can be offered if enough bearish rejection is expressed.

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

Intraday technical levels and trading recommendations for GBP/USD for January 25, 2017

analytics588894c7c25e0.pnganalytics588894d1b77a9.png

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

However, by the end of June a significant bearish break below 1.3550 was expressed as seen on the depicted charts (fundamental reasons). Bearish persistence below the demand level at 1.3550 enhanced the bearish scenario toward the price levels around 1.2700 (Bearish projection target).

Since then, the GBP/USD pair has been trapped inside the depicted consolidation range above 1.2700 until a bearish breakout took place on October 6.

Daily persistence below 1.2700 confirmed the bearish Flag pattern. That is why, a bearish projection target would be located around 1.2020.

On October 25, Bullish recovery was initiated around the price level of 1.2080. That is why, a bullish pullback was executed toward 1.2700-1.2750.

Risky traders considered this bullish pullback toward the price zone of 1.2700-1.2750 to be a valid SELL entry. All T/P levels were successfully reached.

On January 16, Bullish Price action was expressed around the demand level of 1.2000. That's why, a bullish engulfing candlestick was expressed on Tuesday.

The initial bullish target is located around 1.2550 provided that the current bullish breakout above 1.2430 is maintained.

Otherwise, the next bearish destination would be located around 1.1200 (Fibonacci Expansion 100%) if bearish momentum is resumed.

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

Intraday technical levels and trading recommendations for EUR/USD for January 25, 2017

analytics588894b38cf5e.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 toward 0.9450.

In March 2015, EUR/USD bears challenged the 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.

Again 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, the recent bearish rejection was expected around the depicted supply levels (note the monthly candlesticks of May, August, and October 2016).

In the longer term, the level of 0.9450 remains a projected target if the current monthly candlestick maintains its bearish closure below the depicted monthly demand level of 1.0570.analytics588894c0513fd.png

The long-term outlook for the EUR/USD pair remains bearish as the monthly chart illustrates. Bearish persistence below 1.0575 is needed to pursue this bearish scenario.

In September 2016, temporary bullish breakout above 1.1250 was expressed again, but evident bearish pressure was applied on the EUR/USD pair on September 16.

Closure below 1.1250 (supply level 1) maintained enough bearish pressure and enhanced the downside momentum toward the price level of 1.1000 (key level 1).

Bearish persistence below 1.0825 allowed further fall to occur at 1.0570 (demand level) where bullish rejection and a valid BUY entry were expressed on November 24.

Shortly after, the Fibonacci Expansion 100% (1.0825) constituted a recent supply level which offered a valid SELL entry on December 8.

Bearish persistence below the depicted demand level (1.0570) was expected to allow further decline toward 1.0220. However, significant bullish recovery was expressed around the price level of 1.0340 on January 3.

Bullish persistence above 1.0600 allows further bullish advance toward 1.0825-1.0850 (Fibonacci Expansion 100%) where bearish rejection should be anticipated.

Bullish breakout above 1.0570-1.0600 was executed on January 12. Hence, the price level of 1.0600 now constitutes a recent demand level to be watched for bullish rejection if any bearish pullback occurs.

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

Technical analysis of USD/JPY for January 25, 2017

USDJPYM30.png

USD/JPY is expected to extend its upside movement. The pair validated an inverted head-and-shoulder pattern and is heading upward. The upside momentum is further reinforced by its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index broke above the bearish trend line, and is above its neutrality level at 50.

Therefore, as long as 113.15 is support, look for a further rise towards 114.00 and even 114.55 in extension.

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 114.00 and the second one at 114.55. In the alternative scenario, short positions are recommended with the first target at 112.75 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 112.45. The pivot point is at 113.15.

Resistance levels: 114.00, 114.55, 114.95 , Support levels: 112.75, 112.45, 112.00

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

Technical analysis of USD/CHF for January 25, 2017

USDCHFM30.png

USD/CHF is under pressure. The pair stays below its resistance at 1.0025 and remains on the downside. Both 20-period and 50-period moving averages are descending and should maintain a bearish bias. Meanwhile, the relative strength index remains below its neutrality area at 50. The U.S. dollar managed to stabilize as Treasury yields rebounded. The ICE U.S. Dollar Index marked a daily low of 99.92 before bouncing to close at 100.28, up 0.1% on the day. U.S. government bonds saw the biggest one-day sell-off in over a month, which lifted the benchmark 10-year Treasury yield to 2.471% from 2.401% Monday, its largest one-day jump since December 9.

As long as 1.0025 is not broken above, a break below 0.9970 seems likely.

Resistance levels: 1.0050, 1.0070, 1.0100

Support levels: 0.9970, 0.9955, 0.9910

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

Technical analysis of NZD/USD for January 25, 2017

NZDUSDM30.png

NZD/USD is expected to trade with a bullish bias. The pair broke below its 20-period moving average but is still trading above the rising 50-period one, which plays support role and maintains the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. As long as 0.7215 is support, look for a further upside toward 0.7300 and even 0.7335 in extension.

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 0.7300 and the second one at 0.7335. In the alternative scenario, short positions are recommended with the first target at 0.7175 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 0.7150. The pivot point is at 0.7215.

Resistance levels: 0.7300, 0.7335, 0.7385

Support levels: 0.7175, 0.7150, 0.7115

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

Technical analysis of GBP/JPY for January 25, 2017

GBPJPYM30.png

GBP/JPY is expected to trade with a bullish bias. The pair remains in a rising trend channel, and is continuing its rebound. Both 20-period and 50-period moving averages should maintain a bullish bias. And the relative strength index has been supported by a rising trend line. As long as 141.80 is not broken down, a further bounce is preferred with 143.15 and 144.00 as targets.

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 143.15 and the second one at 144.00. In the alternative scenario, short positions are recommended with the first target at 141.35 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 140.85. The pivot point is at 141.80.

Resistance levels: 143.15, 144.00, 144.75

Support levels: 141.35, 140.85,140.05

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

Daily analysis of major pairs for January 25, 2017

EUR/USD: The EUR/USD pair remains in a bullish mode. There is a Bullish Confirmation Pattern on the 4-hour chart and price is expected to go further upwards, following the current short-term consolidation. Price can still reach the resistance lines at 1.0800 and 1.0850.

1485337696_1.png

USD/CHF: The USD/CHF pair is still bearish. The current shallow rally is another opportunity to sell short at slightly higher prices. The support levels at 0.9950, 0.9900, and 0.9850 remain valid targets for this week, although price may temporarily go above the psychological level at 1.0000. Nevertheless, it would sooner or later go below it.

2.png

GBP/USD: The GBP/USD pair has moved upwards by 170 pips this week, to continue the bullish signal that was started last week. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. Price may later reach the distribution territories at 1.2550, 1.2600, and 1.2650.

3.png

USD/JPY: This pair rallied yesterday in the context of a downtrend. Unless the market moves upwards by another 250 pips, the current bearish bias would be valid. The demand levels at 113.50, 113.00, and 112.50 would be tested easily. These demand levels at 113.50 and 113.00 have been tested and they would be tested again.

4.png

EUR/JPY: This currency trading instrument rallied yesterday, posing a threat to the recent bearish signal. A movement above the supply zones at 122.50 and 123.00 would return the market into a neutral zone. On the other hand, a movement of 100 – 150 pips would help establish the presence of bears in the market.

5.png

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

Global macro overview for 25/01/2017

Global macro overview for 25/01/2017:

The Ifo Business Climate Index data prepared by the Ifo Institute for Economic Research in Munich was just released. The data was worse than market participants expected. The main index, Ifo Business Climate, came at the level of 109.8, while market participants expected a slight increase to 111.3 from 111.0 a month ago. Moreover, the bigger disappointment was Ifo Expectation data, because it worsened to 103.2 from 105.5 a month ago (105.8 was the expected number). The comments from the Ifo Institute mainly concerned the recent beginning of Trump's presidency. The Ifo said nothing has yet been decided on Trump's protectionist rhetoric, so German firms are waiting for actions from Trump, not just words, so no Trump effect has been seen in the Ifo sentiment index. Moreover, Ifo confirmed German GDP forecast of 1.5% for 2017. In conclusion, Germany ramains unaffected by Trump's presidency so far, but all Germany needs to do is wait now.

Let's now take a look at the EUR/USD technical picture in the 4H time frame. The intraday support at the level of 1.0719 had been tested and the market bounced slightly. Currently, the price is trading around the level of 1.0742 (weekly pivot resistance) and it is likely to head towards the next intraday resistance at the level of 1.0772. A breakout above this level will open the road towards the next technical resistance at the level of 1.0874.

analytics588876a03034b.jpg

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

Global macro overview for 25/01/2017

Global macro overview for 25/01/2017:

The inflation data or Consumer Price Index from Australia was released overnight and it widely surprised market participants. The fourth quarter CPI was worse than anticipated: the consensus suggested an increase of 0.7% q/q (1.6% y/y) after a 0.7% (1.3% y/y) gain from the previous quarter, but the score released was at the level of 0.5% only (1.5% y/y). This result is weak, but will not prompt an immediate Reserve Bank of Australia response in form of a rate cut at the next meeting in February. The RBA is more likely to cut the rates in May and August as they are known for a wait-and-see approach towards the inflationary pressures.

Let's now take a look at AUD/USD technical picture after the news was released. The market immediate response was a sell-off from the recent highs at the level of 0.7609 and currently the market is trading at the technical support at the level of 0.7523. Nevertheless, the price is still hovering above all of the moving averages, so any break out below 0.7485 area will be another bearish signal.

analytics58886bbbb2ccf.jpg

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

Technical analysis of USD/CAD for January 25, 2017

General overview for 25/01/2017:

The 78%Fibo at the level of 1.3097 was almost hit and this might be the bottom for the wave c (purple) of the overall corrective cycle. The market is currently trying to test the intraday resistance at the level of 1.3213. Only if this level is clearly violated, the low is in place. The next hurdle will be the golden trend line resistance around the level of 1.3245. Only a sustained breakout below 1.3087 level would invalidate this bullish view.

Support/Resistance:

1.3018 - Technical Support

1.3137 - WS1

1.3189 - Technical Support

1.3252 - Intraday Support

1.3261 - Weekly Pivot

1.3386 - Intraday Resistance

1.3507 - WR1

Trading recommendations:

The head and shoulder pattern might be completed. If the golden trend line is clearly violated, then only buy orders should be opened with SL below the level of 1.3212 and TP at the level of 1.3386.

analytics5888655e29a3d.jpg

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

Technical analysis of USD/CHF for January 25, 2017

USDCHFH1.png

Overview:

  • The USD/CHF pair broke support which turned into strong resistance at the level of 1.0026. On the H1 chart, the level of 1.0026 coincides with the ratio of 23.6% Fibonacci, 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 1.0026 with the first target at the level of 0.9958. From this point, the pair is likely to begin a descending movement to the point of 0.9958 and further to the levels of 0.9930 abnd 0.9900. The level of 0.9900 will act as strong support. On the other hand, if a breakout happens at the resistance level of 1.0069, then this scenario may become invalidated. So, stop loss should always be taken into account. Therefore, it will be beneficial to set the stop loss above the last bullish wave at the level of 1.0069.
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of NZD/USD for January 25, 2017

NZDUSDH1.png

Overview:

  • The NZD/USD pair is likely to continue straight from the level of 0.7208. Support at 0.7208 coincides with ratio of 78.6% Fibonacci retracement level on the H1 chart. Additionally, it is probably tend to form a double bottom at the same level. Therefore, the kiwi shows signs of strength following the break through the highest levels of 0.7208. So, it is going to be a good sign to buy above the support levels of 0.7208 with the first target at 0.7276 in order to retest the double top. If the trend can break the point of 0.7276, it will continue towards the next target of 0.7315. However, in case a reversal takes place and the NZD/USD pair breaks through the support level at 0.7208, the pair will be led to a further decline to 0.7155 and 0.7118 in order to indicate the bearish market. But in overall, we still confirm the bullish scenario as the trend is still above the major support of 0.7208.
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/JPY for January 25, 2017

General overview for 25/01/2017:

The market rebounded from the low at the level of 121.13, but was capped just around the weekly pivot zone. The low at the level of 121.13 will now act as the intraday support. To confirm the bottom is in place, the market must break out above the weekly pivot at the level of 122.14 again and head towards the wave 1/a (green) high at the level of 122.95.

Support/Resistance:

123.74 - WR1

122.94 - Intraday Resistance

122.14 - Weekly Pivot

121.13 - Intraday Support

121.34 - WS1

120.53 - Invalidation Level

Trading recommendations:

Day traders should consider opening buy orders only due to uncompleted wave progression to the upside. The SL for all open orders should be placed below the level of 120.53 and TP should be left open for now.

analytics58886237ea2f6.jpg

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

Technical analysis of USDX for January 25, 2017

The Dollar index is showing signs of strength combined with a minor first bullish divergence. We might see another dip towards 99-99.40 but overall the Dollar is short-term oversold and ready for a strong bounce if not for a full reversal to new highs.

analytics58885eaa98c02.png

Black line - resistance

Red line - support

Blue lines - bearish channel

The Dollar index remains in a medium-term bearish trend since it topped at 103.70 and reversed. Short-term support is at 100.10 and resistance at 100.50. If we break support, then we should expect 99-99.40 to be reached. If resistance is broken, we should expect a move towards the upper channel boundary near 101.

analytics58885f17de58d.png

Red lines -bearish channel

On the daily chart the index has reached the Ichimoku cloud support. Price remains inside the bearish channel. There is minor divergence in the RSI and an oversold stochastic. Important for bulls to break above 101.20 as this entire decline could very well be a wave 4 correction and the final leg up towards 105-106 could start. 97.50 is critical support for the long-term bullish trend.

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

Technical analysis of gold for January 25, 2017

Gold weakness came as we expected but there is still no confirmation that the short-term top is in. A break below $1,195-97 will confirm the correction has started. Gold is expected to reach at least $1,180 as a pullback and retracement of the rise from $1,122.

analytics58885d9dbdfce.png

Blue line - bearish divergence

Gold price is testing Ichimoku cloud support. A break below short-term support of $1,195-97 will result in a deeper pullback towards $1,180 where we find the 38% Fibonacci retracement of the entire rise from $1,122. Resistance is at $1,220 and a new high, if it comes, is expected to be faded.

analytics58885e04d643b.png

Gold price is showing rejection signs at the lower cloud boundary as we expected for so long. This rejection is expected to push price towards $1,180 or even $1,160 before the next big move up starts.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/USD for Jan 25, 2017

EURUSD.jpg

When the European market opens, some Economic Data will be released, such as Belgian NBB Business Climate, German 30-y Bond Auction and German Ifo Business Climate. The US will release the economic data, too, such as Crude Oil Inventories and HPI m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0784.

Strong Resistance:1.0778.

Original Resistance: 1.0767.

Inner Sell Area: 1.0756.

Target Inner Area: 1.0731.

Inner Buy Area: 1.0706.

Original Support: 1.0695.

Strong Support: 1.0684.

Breakout SELL Level: 1.0678.

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 EUR/USD for Jan 25, 2017

EURUSD.jpg

When the European market opens, some Economic Data will be released, such as Belgian NBB Business Climate, German 30-y Bond Auction and German Ifo Business Climate. The US will release the economic data, too, such as Crude Oil Inventories, and HPI m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0784.

Strong Resistance:1.0778.

Original Resistance: 1.0767.

Inner Sell Area: 1.0756.

Target Inner Area: 1.0731.

Inner Buy Area: 1.0706.

Original Support: 1.0695.

Strong Support: 1.0684.

Breakout SELL Level: 1.0678.

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 Jan 25, 2017

USDJPY.jpg

In Asia, Japan will release the Trade Balance data, and the US will release some Economic Data, such as Crude Oil Inventories and HPI m/m. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 114.08

Resistance. 2: 113.86.

Resistance. 1: 113.64.

Support. 1: 113.36.

Support. 2: 113.14.

Support. 3: 112.92.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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

Daily analysis of USDX for January 25, 2017

USDX remains supported by the key handle of 100.00, as the bears are losing momentum below the 200 SMA. That's why we're expecting a recovery toward the resistance level of 101.43, in which the index will decide about its short-term path. If it manages to break above the 102.39 level, then it can strengthen the bullish bias. MACD indicator is entering at the positive territory, favoring that scenario.

USDXH1.png

H1 chart's resistance levels: 101.43 / 102.39

H1 chart's support levels: 100.01 / 98.98

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 100.01, take profit is at 98.98 and stop loss is at 101.03.

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

Daily analysis of GBP/USD for January 25, 2017

GBP/USD was affected by the UK Supreme Court's ruling to approve Article 50 via the UK Parliament, but moves were limited by a narrow range across the board. The resistance zone of 1.2566 was untouched and it seems that the support level of 1.2391 will hold for at least this week. However, if the pair manages to break that zone, we can expect further declines below the 200 SMA at H1 chart.

GBPUSDH1.png

H1 chart's resistance levels: 1.2566 / 1.2645

H1 chart's support levels: 1.2475 / 1.2391

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2566, take profit is at 1.2645 and stop loss is at 1.2487.

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

Daily analysis of Gold for January 24, 2016

GOLDH4.png

Overview

Gold price faces strong resistance at 1,218.55, which forces the price to drop again and approach the 1,210.00 barrier. Meanwhile, the price remains within the bullish channel that has been formed since the end of the last year. To keep the bullish trend active until now, supported by the EMA50, we are waiting until the 1,218.55 barrier is surpassed to confirm. This will open the way towards 1,249.94 level as a next main station. Holding above 1,205.50 and 1,197.10 levels is an important condition for the suggested rise to continue. However, breaking these levels will push the price to extend the bearish correctional wave to 1,183.83 initially before any new attempt to rise. The expected trading range for today is between 1,205.50 support and 1,240.00 resistance.

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

Daily analysis of Silver for January 24, 2017

SILVERH4.png

Overview

Silver is trading with a slight bullish bias after it kept its stability above the support base formed above the correctional bearish channel's resistance. You can judge the developments on the chart. The price is moving inside a minor bullish channel that supports the bullish scenario in the upcoming sessions. The metal is waiting to test 17.43 level initially. In general, the bullish scenario is still valid for the short term supported by the EMA50. Let me remind you that breaching the targeted level will extend price gains to reach 18.30. Holding above 16.56 is the most important condition to continue the expected rise. The expected trading range for today is between 17.00 support and 17.43 resistance.

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