EUR/JPY Fundamental Analysis April 25, 2017

After the French Election Round 1 in the weekend, EUR/JPY started the week with a GAP of 390 pips. Though the price showed some bearish movement yesterday falling back to 119.25, today the bulls are trying to take over again. Today, despite having the Italian Bank Holiday due to the observance of the liberation day, EUR is stronger than JPY. On EUR side, Belgian NBB Business Climate report is going to be published later today which is expected to be at -1.4 which previously was at -1.6. If the news comes positive today, EUR is likely to gain more strength in the coming days. On the other side, Japan's SPPI report was published today which was better than expected at 0.8% instead of 0.7%. Nevertheless, JPY could not gain ground against the EUR pressure today. Overall, EUR is expected to climb much higher against JPY in the short term.

Now let us consider he technical view. The price is currently residing in the mid-range of 118.20 to 121.10. If the price breaks above 121.10 with a daily close, then we will be planning buy positions with an upward target of 123.50 resistance level. Otherwise, if the price breaks below 118.20 with a daily close, then we will consider sell positions with a downward target towards 116.20 support level. Currently it would be better to be on the sidelines for this pair until the range is broken with a daily close on either side.

analytics58ff45138c7d8.jpg

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

Analysis of Gold for April 25, 2017

analytics58ff356528fda.png

Recently, the Gold has been trading downwards. The price tested the level of $1,265.50. According to the 4H time frame, I found hidden bearish divergence and broken trendlines in the background, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The first downward target is set at the price of $1,260.00.

Resistance levels:

R1: $1,280.00

R2: $1,283.15

R3: $1,288.50

Support levels:

S1: $1,269.00

S2: $1,265.15

S3: $1,260.15

Trading recommendations for today: watch for potential selling opportunities.

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

GBP/USD Fundamental Analysis April 25, 2017

GBP/USD has been stalling for days above the support area of 1.2750-1.2800 after the impulsive bullish move last week. Today, GBP is currently showing some bullish pressure despite the negative report on Public Sector Net Borrowing, which increased to 4.4B which was expected to be at 2.6B. On the other side, some important news is due today in the US like HPI report which is expected to be at 0.1% which previously was at 0.0%, CB Consumer Confidence which is expected to be at 123.7 which previously was at 125.6, New Home Sales report is expected to be at 590k which previously was at 592k and Richmond Manufacturing Index is expected to be at 18 which previously was 22. As of the forecasts of US news today, expectations are quite negative causing a downward bias on USD. However, any positive news from the US could provide a good push to USD to recover against GBP today.

Now let us consider the technical view. The price is currently residing just above the support area of 1.2750-1.2800 in a corrective structure. According to this scenario, if we see any daily close above 1.2800 then we will be planning buy positions with a target towards the 1.3370 resistance level, though it is a long-term target. As there are no such barriers between the levels, we might see a robust move while the pair is trying to reach the 1.3370 resistance level.

analytics58ff2860ab843.jpg

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

EUR/USD analysis for April 25, 2017

analytics58ff2ec5437a1.png

Recently, EUR/USD has been trading sideways at the price of 1.0800. According to the 4H time frame, I still expect lower price. There is a divergent bar in the background, which is a sign that buying looks risky. Watch for potential selling opportunities. The downward targets are set at the price of 1.0725 and 1.0685.

Resistance levels:

R1: 1.0900

R2: 1.0915

R3: 1.0935

Support levels:

S1: 1.0860

S2: 1.0845

S3: 1.0825

Trading recommendations for today: watch for potential selling opportunities.

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

Technical analysis of USD/JPY for April 25, 2017

USDJPYM30.png

USD/JPY is expected to trade with a bullish bias above 109.60. The pair is consolidating and broke below its 20-period and 50-period moving averages. The relative strength index is around its neutrality level at 50 and lacks momentum. Nevertheless, 0.7545 is still playing a key support role, which should limit the downside potential. Even though a continuation of consolidation cannot be ruled out, its extent should be limited.

As long as 109.60 is not broken, look for a further upside toward 110.65 and even 111.00 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 110.65 and the second one at 111.00. In the alternative scenario, short positions are recommended with the first target at 109.40 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 108.95. The pivot point is at 109.60.

Resistance levels: 110.65, 111.00, and 111.50

Support levels: 109.40, 108.95, and 108.50

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

Technical analysis of USD/CHF for April 25, 2017

USDCHFM30.png

USD/CHF is expected to trade in a lower range as the key resistance at 0.9975. Despite a recent rebound, the pair is still trading below the key resistance at 0.9975, which should limit the upside potential. The relative strength index is mixed to bearish. Even though a continuation of technical rebound cannot be ruled out, its extent should be limited.

To sum up, as long as 0.9975 is not surpassed, expect a return to 0.9925 and even to 0.9905 in extension.

Resistance levels: 1.000, 1.0025, and 1.0050

Support levels: 0.9925, 0.9905, and 0.9860

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

Technical analysis of NZD/USD for April 25, 2017

NZDUSDM30.png

NZD/USD is under pressure. The pair broke below the 20-period and 50-period moving averages, which play resistance roles and maintain the downside bias. The relative strength index is below its neutrality level at 50 and lacks upward momentum.

Therefore, as long as 0.6985 holds on the upside, look for a further drop to 0.6925 and even to 0.6905 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 0.6925. A break below this target will move the pair further downwards to 0.6905. The pivot point stands at 0.6985. 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 0.7005 and the second one at 0.7020.

Resistance levels: 0.7005, 0.7020, and 0.7055

Support levels: 0.6925, 0.6905, and 0.6875

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

Technical analysis of GBP/JPY for April 25, 2017

GBPJPYM30.png

GBP/JPY is expected to trade with a bullish bias above 140.55. The pair is posting a consolidation above its bullish gap, and remains above the support at 140.55. The 50-period moving average is currently playing a support role, and the relative strength index is around its neutrality area, showing a lack of momentum.

As long as 140.55 is not broken down, a further bounce is preferred with 142.30 and 142.85 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 142.30 and the second one at 142.85. In the alternative scenario, short positions are recommended with the first target at 140.00 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 139.30. The pivot point is at 140.55.

Resistance levels: 142.30, 142.85, and 143.35

Support levels: 140.00,139.30, and 138.35

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

Daily analysis of major pairs for April 25, 2017

EUR/USD: The EUR/USD pair opened this week with a gap-up, which warns of a strong movement this week. Opening gaps were also observed on other EUR pairs and JPY pairs, which are expected to trend strong this week. As for EUR/USD, the gap is supposed to be filled soon.

1493116371_1.png

USD/CHF: The movement on USD/CHF this week would be determined by the movement of EUR/USD. The upwards movement in EUR/USD would cause USD/CHF to fall; while the downwards movement in EUR/USD would force USD/CHF to fall. A rise in USD/CHF is more likely this week.

2.png

GBP/USD: Following the sharp rise in the market last week, the Cable has been moving sideways till now. However, a rise in momentum is anticipated, which would most probably favor bulls. This means that the distribution territories at 1.2850, 1.2900, and 1.2950 would be tested this week.

3.png

USD/JPY: Following a gap-up the in the market, USD/JPY trended a bit downwards on Monday (There were also gaps on other JPY pairs, which signal serious movements this week). There has been an attempt to fill the gap on USD/JPY, which would be filled today or tomorrow. The movement is expected to go southwards.

4.png

EUR/JPY: The gap-up on this currency cross made a shallow attempt to fill the gap. There is essentially a bullish signal in the market – a kind of Bullish Confirmation Pattern – which could be rendered useless only when the current gap is filled as price trends further southwards. Any movement contrary to that would merely serve to emphasize the current bullishness in the market.

5.png

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

Global macro analysis for 25/04/2017

Global macro analysis for 25/04/2017:

The National Association of Realtors reported last week, that sales of existing homes in the US in March have increased to the highers level in 10 years. Today's New Home Sales data, that are scheduled for release at 02:00 pm GMT, also look promising. Market participants expect new home sales to ease to an annualized rate of 590,000 in March, down from 592,000 in the previous month. Importantly, that the housing market in the US has a relatively big impact on the overall GDP and the government's preliminary GDP release on Friday. The first quarter saw a rather weak rise in existing home sales, nevertheless, still decent. The question remains, whether the results for the second quarter will be better than expected and deliver a little bit more to the overall US GDP.

Let's now take a look at the USD/CHF technical picture on the H4 timeframe. The market is trading below the key technical resistance at the level of 1.0000, where the 50%Fibo retracement of the previous swing is as well. The momentum remains positive and the oscillator is bouncing from the oversold trading conditions. As long as the support at the level of 0.9901 is not clearly violated, the bias is to the upside. Any breakout out of the dashed black channel is another confirmation that bulls are regaining the control over this market.

analytics58ff17f71c2fb.jpg

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

Technical analysis of NZD/USD for April 25, 2017

NZDUSDH4.png

Overview:

  • The NZD/USD pair has still set below the levels of 0.7075 and 0.7004. The NZD/USD is still moving between the levels of 0.7075 and 0.6946 since last week. The resistance of the NZD/USD pair is seen at the levels of 0.7004 and 0.7075. The first resistance and second one are seen at the levels of 0.7004 and 0.7075 respectively. The NZD/USD pair is still moving in a downtrend channel. The price spot of 0.7075 remains a significant resistance area. Therefore, there is a possibility that the NZD/USD pair will move downside, and the structure of a fall does not look corrective. In order to indicate the bearish opportunity below the spot of 0.7075 - 0.7004, sell below 0.7004 with the first target at 0.6946. If the NZD/USD pair is able to break out the bottom at 0.6946, the market will decline further to 0.6889. It should be noted that the major support is seen at the level of 0.6889 which coincides with the double bottom in the one-hour time frame. Support 2. On the other hand, the stop loss should be placed above the level of 0.7075.
The material has been provided by InstaForex Company - www.instaforex.com

Global macro analysis for 25/04/2017

Global macro analysis for 25/04/2017:

Interesting news from the USA has hit the financial newsfeeds. According to Wall Street Journal magazine, Donald Trump plans to reduce the corporate tax from 35% to 15%. According to sources, Trump is keen to present large tax cuts to the public and does not take too much into account the budgetary implications. The official announcement of the plans is to take place on Wednesday. Moreover, there are also unconfirmed signs that the administration is ready to postpone until the end of the year plans to secure a budget for building a wall on the border with Mexico for the benefit of the Democrats and Republicans. In conclusion, market participants will finally have a chance to get into some more details about at least a part of the changes promised by Trump during the presidential campaign.

Let's now take a look at the US Dollar index technical picture on the H4 time frame. After the French presidential elections, there is still an unfilled weekend gap between the levels of 99.15 - 99.72. Nevertheless, the market is trading in oversold conditions and the momentum oscillator indicates a possible bullish divergence on the H4 timeframe. This is why the chances for an upside relief rally are quite high and the target for bulls would be at the level of 99.71 minimum.

analytics58ff11288b9dc.jpg

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

Technical analysis of USD/CHF for April 25, 2017

USDCHFH4.png

Overview:

  • The USD/CHF pair continues moving downwards from the level of 0.9994. Last week, the pair dropped from the level of 0.9994 (this level of 0.9994 coincides with the ratio of the 61.8% Fibonacci reterecement levels to the bottom around 0.9898. The current price is seen at 0.9944. Today, the first resistance level is seen at 0.9994 followed by 1.0044, while daily support 1 is found at 0.9882. Also, the level of 0.9925 represents a weekly pivot point for that it is acting as the minor support today. Amid the previous events, the pair is still in a downtrend, because the USD/CHF pair is trading in a bearish trend from the new resistance line of 0.9994 towards the first support level at 1.9925. If the pair succeeds to pass through the level of 1.9925, the market will indicate a bearish opportunity below 1.9925. Sell below 1.9925 with the first target at 0.9882 and 0.9847. However, if a breakout happens at the resistance level of 1.0014, then this scenario may be invalidated.
The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/NZD for April 25б 2017

analytics58ff0bc908c5d.png

Wave summary:

EUR/NZD is now accelerating higher, which is exactly what we would expect from wave iii. We would likely to see the base-channel resistance-line near 1.5765 be broken too as that will add confidence in wave iii developing and call for even more upside acceleration higher towards the first extension target for wave iii target at 1.6656.

Support is now seen at 1.5500 and again at 1.5357.

R3: 1.6069

R2: 1.5837

R1: 1.5765

Pivot: 1.5660

S1: 1.5500

S2: 1.5357

S3: 1.5176

Trading recommendation:

We are long EUR from 1.5350 and we will move our stop higher to break-even. If you are not long EUR yet, the buy near 1.5500 and use the same stop.

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

Elliott wave analysis of EUR/JPY for April 25б 2017

analytics58ff04b24dc2e.png

Wave summary:

We continue to look for more upside towards 120.62 and possibly even higher towards 121.92 to complete wave iii/. Wave iii/ should be followed by a shallow flat correction in wave iv/ and ideally hold above 118.88 for the next impulsive rally higher.

Longer term, we expect a rally to above 122.88 and 124.09 during this run higher.

R3: 121.92

R2: 120.62

R1: 120.16

Pivot: 120.00

S1: 119.61

S2: 119.35

S3: 118.88

Trading recommendation:

We are long EUR from 115.25 and we will move our stop higher to 118.50. If you are not long EUR yet, then buy a break above 120.16 and use the same stop at 118.50.

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

Ichimoku indicator analysis of USDX for April 25, 2017

The Dollar index continues to trade above the 99-98.80 support area but the sideways consolidation in the short-term implies that more downside is expected. The downward move is not over but the risk reward does not favor bears.

analytics58ff0321d98f5.png

Blue lines - bearish channel

Short-term support is at 98.80. Resistance is at 99.30-99.50. Price remains in a bearish trend below both the tenkan- and kijun-sen indicators. Price is expected to make new lows towards 98 before it reverses upwards. Short-term indicators are diverging.

analytics58ff0377f1853.png

Red line - resistance

Black line - support

Green line - long-term support trend line

The weekly candle is below both the tenkan- and kijun-sen but above the Kumo (cloud). Trend is bearish as long as price is below 101.30 and the longer-term trend is also in danger if price breaks below the Kumo. If price breaks below the green long-term trend line the chances for a bounce towards the red resistance trend line diminish.

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

Ichimoku indicator analysis of gold for April 25, 2017

Gold remains weak and in a short-term bearish trend. I expect $1,260 to be broken and price to move towards next support of $1,250-45. My longer-term view remains bullish.

analytics58ff016569460.jpg

Gold price held above the 61.8% Fibonacci retracement of the move from $1,245 but is breaking below the 4-hour cloud support. The next leg down in Gold is expected to bring price towards the 38% Fibonacci retracement of the move from $1,180.

analytics58ff01bf0b41a.jpg

On a daily basis price has broken below the tenkan-sen and will test the kijun-sen at $1,260-55. Cloud support is at $1,230. After this larger pullback is over, I expect Gold to break above $1,300 and move towards $1,400.The material has been provided by InstaForex Company - www.instaforex.com

Trading plan for 25/04/2017

Trade plan for 25/04/2017:

During the Asian session, the stock market was up on the back of yesterday's optimism from Europe about the US. On the foreign exchange market, the dollar is gaining ground amid expectations of Donald Trump's political decisions (according to Wall Street Journal, Trump plans to reduce corporate tax from 35% to 15%). Gold and oil are stable.

On Tuesday 25th of April, the economic calendar is light, but global investors will keep an eye on the New Home Sales and CB Customer Confidence data from the US.

Analysis of EUR/USD for 25/04/2017:

The CB Customer Confidence data is scheduled for release at 02:00 pm GMT and the market participants anticipate that the index decreased by two points to 123.6 this month, although the projection leaves the index close to the 17-years high seen in March. The latest CB report suggests that the consumer sentiment remained high, mainly due to an increase in wages and relatively low unemployment rate. This point of view should be supported by today's data release and will eventually be good for the US dollar.

Let's now take a look at the EUR/USD technical picture on the H4 timeframe. The bears did not manage to fill the weekend gap and now the price is bouncing back towards the next technical resistance at the level of 1.0904. Only a sustained breakout below the support at the level of 1.0820 might change the bullish bias. If this level is violated, then the next important support is seen at the level of 1.0777.

analytics58ff01a15f6f1.jpg

Market snapshot: GBP/USD is still consolidating the recent gains

The GBP/USD pair is trading sideways in horizontal range, still consolidating the gains. The technical support at the level of 1.2772 remains the most important support for bulls. The momentum still points to the downside, but the market conditions are becoming slightly oversold. The next important resistance is seen at 1.2845 and 1.2859.

analytics58ff01b237f1a.jpg

Market snapshot: USD/JPY trading around the trend line

The USD/JPY pair is trading just below the golden trend line around the level of 110.50 as the bulls are preparing for a breakout. The weekend gap is still not filled and the market conditions look overbought on the H4 timeframe. This is why the breakout above the trend line might be a fake one and if it is so, then the price might try to fill the gap again. The key intraday support is at the level of 109.57.

analytics58ff01bc09453.jpg

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

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

analytics58fefd76d0c07.png

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

A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed a further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected.

Bearish persistence below 0.7250 allowed a further decline toward 0.7100 then 0.6960 which failed to provide enough support for the pair.

That is why a further fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, a bullish breakout was achieved above the depicted key level (0.6960).

That is why the recent bearish pullback toward 0.6960 offered significant bullish rejection and a valid BUY entry which is running in profits now.

Note the depicted bullish 1-2-3 pattern with projection target around 0.7250 provided that bullish fixation above 0.7080-0.7100 (neckline) is achieved on a daily basis.

On the other hand, the price level of 0.7100 remains a significant key level to prevent a further bullish advance toward 0.7250.

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

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

analytics58fefac4a48c5.pnganalytics58fefad6714a9.png

Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel.

In December 2016, a bullish breakout above 1.3300 (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 (recently established top).

During the bearish pullback, the price level of 1.3300 (50% Fibonacci Level) failed to provide enough support to the pair.

This allowed a further bearish movement toward the price level of 1.2970 (61.8% Fibonacci level) where a valid BUY entry was offered in February 2017.

A few weeks ago, the bullish breakout above 1.3300 (50% Fibonacci Level) enhanced a further advance toward 1.3440 and 1.3530.

Expected bullish target would be located around 1.3800 (upper limit of the depicted channel) if the pair maintains upside trading above 1.3300 (50% Fibonacci Level) which stands as a prominent support level.

The next resistance to meet the pair is located around the price level of 1.3580 that should be bypassed to pursue towards next bullish targets.

On the other hand, if the USD/CAD pair moves below 1.3300, it may become trapped again within the depicted consolidation range (1.3300-1.2970).

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

EUR/USD Fundamental Analysis April 24, 2017

Forex analysis review
EUR/USD Fundamental Analysis April 24, 2017

Technical analysis of EUR/USD for Apr 25, 2017

EURUSD.jpg

When the European market opens, some Economic Data will be released, such as Belgian NBB Business Climate. The US will release the Economic Data, too, such as Richmond Manufacturing Index, New Home Sales, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, 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: 1.0918.

Strong Resistance:1.0912.

Original Resistance: 1.0901.

Inner Sell Area: 1.0890.

Target Inner Area: 1.0865.

Inner Buy Area: 1.0840.

Original Support: 1.0829.

Strong Support: 1.0818.

Breakout SELL Level: 1.0812.

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 Apr 25, 2017

USDJPY.jpg

In Asia, Japan will release the SPPI y/y data, and the US will release some Economic Data, such as Richmond Manufacturing Index, New Home Sales, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, 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: 110.45.

Resistance. 2: 110.23.

Resistance. 1: 110.02.

Support. 1: 109.75.

Support. 2: 109.54.

Support. 3: 109.32.

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 April 25, 2017

USDX is still lower in the short-term, as the markets are still on risk-on sentiment following French elections. Currently, the index is testing the support zone of 98.83, which has been a level that hasn't allowed the formation of new lower lows. That's why we're still following toe recovery idea of a testing above the 99.28 level, focusing on the 100.00 handle as the next key zone to the upside.

USDXH1.png

H1 chart's resistance levels: 99.28 / 99.97

H1 chart's support levels: 98.83 / 98.42

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 98.83, take profit is at 98.42 and stop loss is at 99.24.

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

Daily analysis of GBP/USD for April 25, 2017

GBP/USD remains steady in a consolidation range despite the USD sell-off triggered after French election's results. Between the 1.2875 and 1.2728 levels, we've been following a narrow range in favor of the bullish bias. With a breakout above 1.2875, we can target the next key area at the 1.3029 level, while a pullback should make the Cable to test the 200 SMA at H1 chart.

1493063465_GBPUSDH1.png

H1 chart's resistance levels: 1.2875 / 1.3029

H1 chart's support levels: 1.2728 / 1.2652

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 1.2875, take profit is at 1.3029 and stop loss is at 1.2723.

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

Daily Video Technical Analysis | XAU/USD | 24th April 2017

We take a nice detailed look at XAU/USD and see if there are any trading opportunities for us to make some juicy pips!

We combine the art of Fibonacci retracements, Fibonacci extensions, Support & Resistance along with Stochastic and RSI to determine the best entry, stop loss and profit targets.

Subscribe to me for more daily technical analysis!

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

AUDN/ZD profit target reached, prepare to buy again

Price has reached our profit target and dropped from there. We now prepare to buy above 1.0720 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 1.0784 resistance (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension).

Stochastic (21,5,3) sees strong support above the 4.4% level where we expect a bounce from.

Buy above 1.0720. Stop loss at 1.0677. Take profit at 1.0748.

analytics58fe1d127847b.png

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

XAU/USD right on major support, remain bullish

Price gapped down this morning and is testing our major support at 1,273.10 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) where we expect to see a bounce above this level to at least 1,295.28 resistance (Fibonacci extension, horizontal swing high support).Stochastic (34,5,3) has a long-term ascending support line holding RSI up. We are also seeing bullish divergence vs price signalling that a bounce is impending.

Buy above 1,273.10. Stop loss at 1,259.95. Take profit at 1,295.28.

analytics58fe1cf5f0084.png

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

Daily analysis of USD/JPY for April 24, 2017

USDJPYH4.png

Overview

The USD/JPY pair began today's trading with a strong bullish gap that pushed the price to breach 109.30 level. Trading above this level will lead the price to test 111.65 level mainly. Now, we believe that the price will head to cover the mentioned gap and targets 109.10 levels initially. Breaking this level will confirm the return to the main bearish track. Please be aware that today's close above 109.30 will stop the negative scenario and push the price to 111.65 before any new attempt to decline. The expected trading range for today is between 109.00 support and 110.70 resistance.

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

Daily analysis of GBP/JPY for April 24, 2017

GBPJPYH4.png

Overview

The GBP/JPY pair formed a positive price gap to surpass the barrier at 141.10 and to reach the initial target at 141.80. This reinforces our bullish expectation for the short term. So, we expect the pair to resume bullish attempts until hitting the next target at 143.35 to face 23.6% Fibonacci correction level. We notice that stochastic surpasses the overbought level, which forces the pair to provide an intraday sideways trading until gaining the bullish momentum. Then, the pair is likely to resume the positive trend until achieving the suggested target. The expected trading range for today is between 141.10 and 143.35

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

Daily analysis of Gold for April 24, 2017

GOLDH4.png

Overview

Gold is trading with an obvious bearish bias since the early session today, attacking the bullish channel support level. The metal approached this level testing the critical support at 1,263.17 and bounced higher quickly to settle above the mentioned channel support. This move keeps the bullish trend active until now. Traders are waiting until the metal gains enough momentum to push the price higher towards our main targets at 1,300.00 and even higher at 1,340.00. Therefore, we expect the bull market in the short term unless witnessing a clear break and stability below 1,263.17 level. The expected trading range for today is between 1,263.00 support and 1,300.00 resistance.

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

Daily analysis of Silver for April 24, 2017

SILVERH4.png

Overview

Silver is trading with a slight bearish bias in an attempt to head for our downward target at 17.43. This keeps our bearish scenario valid for the short term. Let me remind you that we are waiting for a bullish rebound after hitting the mentioned level to resume the bullish trend in the short run. The upward targets are seen at 18.30 extending to 19.38. You should be aware that breaking 17.43 will push the price down to approach 16.56 before any new attempt to rise. The expected trading range for today is between 17.60 support and 18.00 resistance.

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