Daily analysis of Gold for January 27, 2016

GOLDH4.png

Overview

Gold price is testing 1,183.83 level after closing the last four-hour candlestick below it. As long as the price is below this level, the negative pressure will remain dominant for today, waiting to test 1,173.00 as the next main target. Let me remind you that breaking this level will extend gold losses to reach 1,162.40. Note that breaching 1,183.83 will lead the price to test the most important resistance at 1,197.10 before determining the next destination on the short-term basis. Breaching the last level will stop the correctional bearish pressure and lead the price to regain its main bullish track again. The expected trading range for today is between 1,170.00 support and 1,190.00 resistance.

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

Daily analysis of Silver for January 27, 2017

SILVERH4.png

Overview

Silver price continues its negative pressure to break the minor bullish channel's support and head towards the critical support of 16.56. As we mentioned in our recent reports, the price needs to hold above this level to keep the bullish trend active on the intraday and short-term basis, as breaking this level will push the price to head towards 15.49 before any new attempt to rise. Therefore, we still suggest the bullish trend in the upcoming sessions on condition that the price holds firmly above 16.56. Please note that the price needs to breach 16.95 to ease the mission of heading towards our first main target at 17.43. The expected trading range for today is between 16.56 support and 17.00 resistance

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

USD/CAD intraday technical levels and trading recommendations for January 27, 2017

analytics588b40e98f071.pnganalytics588b40f47bb5c.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 27, 2017

analytics588b3ede26382.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 0.7250-0.7300 (SELL-ENTRY) where a valid SELL entry can be offered if enough bearish pressure is maintained (Note the bearish engulfing daily candlestick of Yesterday).

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

Intraday technical levels and trading recommendations for GBP/USD for January 27, 2017

analytics588b3da596033.pnganalytics588b3db5d05b1.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 27, 2017

analytics588b3d2ec542e.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.

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

analytics588b3d38b56c4.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

Gold analysis for January 27, 2017

analytics588b3916e8938.png

Recently, gold has been trading downwards. As I expected, the price tested the level of $1,181.31. According to the 30M time frame, I found unconfirmed bullish divergence on a Moving Average Oscilator, which is a sign of potential strength. To confirm bullish divergence, the price needs to break the level of $1,191.50. Anyway, the trend is still bearish and Gold could visit the level of $1,177.50. Watch for selling opportunities on the pullbacks as long the price has not confirmed bullish divergence.

Resistance levels:

R1: 1,197.00

R2: 1,200.30

R3: 1,205.70

Support levels:

S1: 1,186.20

S2: 1,182.90

S3: 1,177.55

Trading recommendations for today: Watch for potential selling opportunities.

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

EUR/NZD analysis forJanuary 27, 2017

analytics588b3351b9e2d.png

Recently, EUR/NZD has been trading sideways at the price of 1.4745. According to the 15M time frame, I found bearish divergence in progress, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. A downward target is set at the price of 1.4695. The short-term trend is still downward. Price is also testing Fibonacci retracement 38.2% at the level of 1.4760.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4800

R2: 1.4840

R3: 1.4895

Support levels:

S1: 1.4700

S2: 1.4670

S3: 1.4615

Trading recommendations for today: watch for potential selling opportunities.

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

Daily analysis of major pairs for January 27, 2017

EUR/USD: This pair came down a little on Thursday, though that was too shallow to pose any threat against the current bullish bias. There is a need for price to go down by at least, 200 pips, before the bias can turn bearish in the short-term. Until that happens, the shallow pullback may be another opportunity to go long.

1485511492_1.png

USD/CHF: The USD/CHF pair has gone flat so far this week, in the context of a downtrend. Price is slightly below the psychological level at 1.0000, and while it may temporarily foray above that level, it is generally possible for the bearish movement to resume once momentum returns to the market.

2.png

GBP/USD: It is interesting to see that GBP/USD has continued going upwards. Since the beginning of last week, price has moved upwards by 660 pips. The market topped at the distribution territory at 1.2650, and then retraced a bit. The bullish bias is still in place and the market is expected to continue going upwards.

3.png

USD/JPY: There are conflicting signals on the USD/JPY – the EMA 11 is below the EMA 56 while the RSI period 14 is above the level 50. It is better to stay away from the market now, until price is able to go upwards or downwards by about 200 pips. That is when a directional bias would form.

4.png

EUR/JPY: There is a short-term "buy" signal in this market. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. The signal is not currently stable, but a movement above the supply zones at 123.50 and 124.00 would result in a Bullish Confirmation Pattern in the market.

5.png

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

Global macro overview for 27/01/2017

Global macro overview for 27/01/2017:

After decades of friendship and economic partnership, the U.S. and Mexico relations plunged into turmoil after Mexican President Enrique Pena Nieto canceled his trip to Washington after his U.S. counterpart Donald Trump has significantly increased his campaign pledges to revise the North American Free Trade Agreement and charge the U.S. Southern neighbor to build a border wall. This conflict might quickly escalate to a full trade war, especially after Trump idea of imposing a 20 percent tax on all Mexican imports. In conclusion, the U.S.-Mexican economic interconnections are very deep, so it might be nearly impossible to pull them apart without serious political or economic unrest.

Let's now take a look at USD/MXN technical picture in the daily time frame. The market recent top at the level of 22.037 might still not be the termination of the long-term bullish trend. So far, the price is trading above the 50 and 100 daily moving average and there is no evidence of any trend reversal as the sequence of higher highs and higher lows remain intact. The next important support for the bulls is seen at the level of 20.114 and the next resistance is seen at the level of 21.460.

analytics588b11d0583e2.jpg

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

Global macro overview for 27/01/2017

Global macro overview for 27/01/2017:

The Preliminary GDP and Durable Goods Orders data from the US are the key macroeconomic data to keep an eye on today. The market participants expect GDP to decrease from 3.5% to 2.1% for the last quarter. On the other hand, the Durable Goods Orders are expected to rise from -4.6% to 2.7% on a month-to-month basis. The key sub-index to watch here is manufacturer's durable goods orders as they used to trend higher during the earlier periods of economic expansion. The lack of investment has kept the level of orders unchanged for almost four years now and the recent promises made by president Trump might be quite important for this part of the economy. The GDP increase at the level of 2.1% seems robust, but is still sluggish. This is one of the reasons why, despite the low unemployment and elevated level of consumer spending and overall sentiment, the growth has been limited. The main concern here is the wage growth. So, if the Trump's large-scale infrastructure investment plans will be approved by Congress, then wages might pick up even more.

In conclusion, everything is still all about US President Donald Trump and his policies, so will we see the upbeat reading for GDP and Durable Goods Orders? We will find out today at 01:30 pm GMT.

Let's now take a look at US Dollar Index technical picture at the H4 time frame. The market had broken below the important technical support at the level of 100.53, but the sequence of the higher lows is still valid. The price is trading inside of the golden channel, just at the level of technical resistance at 100.70. If bulls want to take the control back from bears, the price must break out above the level of 100.70 and then head towards the next technical resistance at the level of 101.73.

analytics588b0b9910ef4.jpg

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

Technical analysis of USD/CHF for January 27, 2017

USDCHFH1.png

Overview:

  • The USD/CHF pair rose from the level of 0.9960 towards 1.0015 yesterday. Now, the current price is set at 1.0010. On the H1 chart, the resistance is seen at the levels of 1.0026. Besides, the daily bottom is seen at the level of 0.9958. Today, the USD/CHF pair is continuing moving in a bullish trend from the new support level of 0.9958 to form a bullish channel. Amid the previous events, we expect the pair to move between 0.9958 and 1.0068. Therefore, buy above the level of 0.9958 with the first targets at 1.0026 and 1.0068 in order to test the daily resistance 2. However, if the pair fails to pass through the level of 1.0068, the market will indicate a bearish opportunity below the level of 1.0068. The market will decline further to 0.9958 in order to return to the double bottom. Additionally, a breakout of that target will move the pair further downwards to 0.9910.
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/CHF for January 27, 2017

USDCHFM30.png

USD/CHF is expected to trade with a bullish bias above 0.9985. The pair broke above its 20-period and 50-period moving averages, while the 20-period moving average crossed above the 50-period one. The relative strength index is supported by a rising trend line and is above its neutrality level at 50. Additionally, 0.9985 is playing a key support role, which should limit the downside potential.

As long as 0.9985 holds as the key support, look for a further upside towards 1.0035 and even 1.0050 in extension.

Resistance levels: 1.0035, 1.0050, 1.0070

Support levels: 0.9965, 0.9940, 0.9910

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

Technical analysis of NZD/USD for January 27, 2017

NZDUSDH1.png

Overview:

  • The NZD/USD pair is likely to continue straight from the level of 0.7276.
  • Support at 0.7208 coincides with ratio of 78.6% Fibonacci retracement level .
  • Additionally, it is probably tend to form a double bottom at the same level.
  • Therefore, the NZD/USD pair shows signs of strength following the break through the highest levels of 0.7276.
  • So, it is going to be a good sign to buy above the support levels of 0.7276 with the first target at 0.7315. If the trend can break the point of 0.7315, it will continue towards the next target of 0.7350.
  • On the other hand, 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 overall, we still confirm the bullish scenario as the trend is still above the major support of 0.7155.
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of NZD/USD for January 27, 2017

NZDUSDM30.png

NZD/USD is under pressure. The pair broke below the rising trend line, which confirms a negative view. Moreover, the 50-period moving average is turning down, which plays resistance role and maintains the downside bias. The relative strength index is below its neutrality level at 50 and lacks upward momentum. As long as 0.7260 is resistance, look for a further downside towards 0.7220 and even 0.7200 in extension.

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 0.7220. A break below this target will move the pair further downwards to 0.7200. The pivot point stands at 0.7260. If 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 0.7280 and the second one at 0.7305.

Resistance levels: 0.7280, 0.7305, 0.7340

Support levels: 0.7220, 0.7200, 0.7175

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

Technical analysis of GBP/JPY for January 27, 2017

GBPJPYM30.png

GBP/JPY is expected to trade in a higher range as the bias remains bullish. The pair has been supported by the rising 50-period moving average and remains on the upside. The 20-period moving average stays above the 50-period one, and the relative strength index lacks downward momentum. As long as 143.80 is not broken down, a further bounce is preferred with 144.95 and 145.40 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 144.95 and the second one at 144.40. In the alternative scenario, short positions are recommended with the first target at 143.50 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 142.95. The pivot point is at 143.80.

Resistance levels: 144.95, 145.40, 145.80

Support levels: 143.50, 142.95,142.35

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

Technical analysis of USD/JPY for January 27, 2017

USDJPYM30.png

USD/JPY is expected to extend its upside movement.The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum. Additionally, 114.55 is playing a key support role, which should limit the downside potential.

Hence, as long as 114.55 holds as support, look for a further rise towards 115.40 and even 115.80 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 115.40 and the second one at 115.80. In the alternative scenario, short positions are recommended with the first target at 114.00 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 113.45. The pivot point is at 114.55.

Resistance levels: 115.40, 115.80, 116.25 , Support levels: 114.00, 113.45, 113.00

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

Technical analysis of USD/CAD for January 27, 2017

General overview for 27/01/2017:

The market has bounced from the level of 1.3053 and now is trying to get back to the golden channel. The main hurdle to overcome is the overbalance at the level of 1.3141. Only if this level is clearly violated, the market can break out of the channel and head upward towards the level of 1.3213. Without breaking above this level, the market might threaten to test the intraday support again and even move lower towards the local low at the level of 1.3017.

Support/Resistance:

1.3017 - Technical Support

1.3053 - Intraday Support

1.3137 - WS1

1.3141 - Overbalance Level

1.3213 - Intraday Resistance

1.3261 - Weekly Pivot

1.3507 - WR1

Trading recommendations:

Day traders could add to their opened buy orders only if the level of 1.3131 is clearly violated (hourly candle close above this level). SL should be placed below the swing low at the level of 1.3016 and TP should be left open for now.

analytics588b0377a7732.jpg

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

Technical analysis of EUR/JPY for January 27, 2017

General overview for 27/01/2017:

The market has taken out the top of the wave 1/a at the level of 122.94 just as anticipated. If this is the wave three unfolding, then the next target projection is at the level of 123.84. Nevertheless, please notice that any violation of the level of 121.95 will result in impulsive count invalidation. The reason behind this scenario is more complex and time-consuming corrective sub-cycle in wave 2.

Support/Resistance:

123.74 - WR1

122.94 - Intraday Resistance

122.67 - Intraday Support

122.14 - Weekly Pivot

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.

analytics588b004187894.jpg

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

Technical analysis of USDX for January 27, 2017

The Dollar index is finally bouncing as we expected from the start of the week. Trend however remains bearish. Price needs to break above 101.50 to confirm trend change. However I believe we are going to see the coming weeks a bullish move towards 102 at least.

analytics588afea855505.png

Blue lines - bearish channel

Black lines - bullish divergence

The bullish divergence signal I gave yesterday is working nicely as price has bounced towards 101 as we expected. Price is below the Ichimoku cloud. We could see a small rejection here and a pullback but I believe we will not see a lower low. I believe we will see a higher low and then resumption of the up trend.

analytics588afef88fde5.png

Red lines - bearish channel

The lower cloud boundary on the daily chart has provided strong support for the Dollar index. Price is bouncing and challenging the bearish channel. A move towards the top cloud boundary should be expected. Stochastic oscillator is oversold and turning upwards. Dollar strength is expected to be seen over the coming sessions and specially next week.

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

Technical analysis of gold for January 27, 2017

Gold has reached our first target of $1,180 where the 38% Fibonacci retracement is found. Gold could bounce back towards $1,200 but overall I expect Gold price to continue lower towards $1,160. Gold is now in a corrective phase relative to the rise from $1,122 to $1,220.

analytics588afd59a106a.png

Gold is trading below the 4-hour Ichimoku cloud changing short-term trend to bearish again as we expected. Thefirst target is achieved. A bounce is justified from current levels. A backtest of the broken cloud at $1,200 is possible. However any bounce should be sold as I expect another rejection and a push lower towards $1,160. Only a break above $1,220 could change my plans.

analytics588afdac33403.png

Gold price as expected is showing strong rejection signs. The weekly candle depicts the rejection vividly. According to our previous analysis. Gold is in a corrective phase. Gold should resume the uptrend in a week or two. First we need to see $1,160. Short-term resistance at $1,190. Support at $1,180 and next at $1,170.The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/NZD for January 27 - 2017

analytics588ae9a8570b1.png

Wave summary:

We are not going anywhere here. We suppose that a wave ii/ was seen at 1.4657 and wave iii/ higher towards 1.5282 and 1.5837 is developing, but we need a break above minor resistance at 1.4848 and, more importantly, a break above resistance at 1.4953 to get things going here. As long as minor resistance at 1.4848 is able to cap the upside, the risk remains for a break below important support at 1.4654, that will tell us that wave 2 from 1.9023 is still unfolding and more downside closer to 1.4449 can be expected.

R3: 1.4953

R2: 1.4891

R1: 1.4848

Pivot: 1.4722

S1: 1.4654 Expected wave 2 low seen in mid-December 2016

S2: 1.4560

S3: 1.4449

Trading recommendation:

We are long EUR from 1.4884 with stop placed at 1.4650. If you are not long EUR yet, then buy a break above 1.4848 or more conservatively wait for a break above 1.4953 and use the same stop.

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

Elliott wave analysis of EUR/JPY for January 27 - 2017

analytics588ae7c76e105.png

Wave summary:

A break above resistance at 122.95 will confirm continuation higher towards 125.37 and 126.54 as the next targets. This final rally higher towards 126.54 should complete wave 3 and set the stage for a shallow sideways consolidation in wave 4. This wave 4 consolidation will likely take 3-5 weeks to complete. This correction will likely also be rather complex and therefore not tradable.

The short-term support is now seen at 122.45 and again at 122.18.

R3: 123,73

R2: 123.08

R1: 122.95

Pivot: 122.75

S1: 122.60

S2: 122.46

S3: 122.18

Trading recommendation:

We are long EUR from 121.40 and will move our stop higher to 121.90. Take profit will be placed at 126.25. If you are not long EUR yet, then buy a break above 122.95 and use the same stop and take profit levels.

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

Technical analysis of EUR/USD for Jan 27, 2017

EURUSD.jpg

When the European market opens, some Economic Data will be released, such as Private Loans y/y and M3 Money Supply y/y. The US will release the economic data, too, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Durable Goods Orders m/m, Advance GDP Price Index q/q, Core Durable Goods Orders m/m, and Advance GDP q/q, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0735.

Strong Resistance:1.0728.

Original Resistance: 1.0718.

Inner Sell Area: 1.0708.

Target Inner Area: 1.0683.

Inner Buy Area: 1.0658.

Original Support: 1.0648.

Strong Support: 1.0638.

Breakout SELL Level: 1.0631.

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 27, 2017

USDJPY.jpg

In Asia, Japan will release the BOJ Core CPI y/y, National Core CPI y/y, and Tokyo Core CPI y/y data, and the US will release some Economic Data, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Durable Goods Orders m/m, Advance GDP Price Index q/q, Core Durable Goods Orders m/m, and Advance GDP q/q. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 115.38.

Resistance. 2: 115.16.

Resistance. 1: 114.93.

Support. 1: 114.66.

Support. 2: 114.43.

Support. 3: 114.21.

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 27, 2017

USDX went into recovery mode during Thursday's session and it's finding dynamic resistance at the 200 SMA so far. The bearish bias is still active and we're favoring that scenario, but with a breakout higher above the 101.43 level, that possibility should turn into a bullish view for the short and medium term at least, looking for the 102.39 level in a first degree.

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 27, 2017

GBP/USD found resistance around 1.2645 and it's now testing the support zone of 1.2566. If the pair manages to break below that area, we could expect a corrective move toward the 200 SMA, but that shouldn't invalidate our bullish bias for the short-term. Bollinger band is showing a bearish path ongoing and that's why we would like to see more downside moves below the 1.2600 handle.

GBPUSDH1.png

H1 chart's resistance levels: 1.2645 / 1.2721

H1 chart's support levels: 1.2566 / 1.2475

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 1.2645, take profit is at 1.2721 and stop loss is at 1.2566.

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

Daily analysis of USD/JPY for January 26, 2017

USDJPYH4.png

Overview

The USDJPY pair made a new test of the 113.97 level and hold below it keeping the negative pressure valid until now, supported by the EMA50 that keeps pushing the price to the downside. Stochastic generates negative signals. Therefore, we are waiting for negative trading in the upcoming sessions, and the awaited targets begin at 111.90 and extend to 109.00. Holding below 114.00 represents the key condition to achieve the suggested targets. The expected trading range for today is between the 112.00 support and the 114.00 resistance.

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

Daily analysis of Gold for January 26, 2016

GOLDH4.png

Overview

The gold price touched our awaited target at 1,197.10 and closed above the mark, showing bullish rebound signals that support the chances of resuming the main bullish trend again after the recent temporary decline. Stochastic shows clear positive signals on the four-hour time frame. Therefore, the bullish trend will be suggested in the upcoming sessions, and the price needs to breach the 1,203.29 barrier to head towards the expected bullish wave targets that begin at 1,218.55 and extend to 1,249.94 on the near-term basis. Breaking and holding below 1,197.10 levels will stop the positive scenario and push the price to extend its bearish correction to 1,183.83 as the next main station. The expected trading range for today is between the 1,190.00 support and the 1,218.55 resistance.

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

Daily analysis of Silver for January 26, 2017

SILVERH4.png

Overview

The silver price is trading downwards trying to breach the minor bullish channel's support, so be careful in upcoming trading. The price is likely to test 16.56 before it returns to a rise again. The price struggles to surpass the EMA50. In general, the bullish trend scenario will remain active until now if the price settles above 16.56 levels. The price is likely to target 17.43 levels initially, followed by the breach attempt to head towards 18.30. The expected trading range for today is between the 16.75 support and the 17.43 resistance.

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