Technical analysis of GBP/JPY for April 27, 2018

analytics5ae31c3b47e33.png

GBP/JPY is under pressure and expected to prevail its downside movement. The pair accelerated on the downside last night, following the bearish breakout of a key horizontal level at 132.80. Both the falling 20-period and 50-period moving averages act as resistance, and should continue to push the prices lower. Last but not least, the relative strength index is bearish, without showing any reversal signal. In which case, below 151.35, look for a new decline to 149.90 and 149.55 in extension.

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 151.65, 151.95, and 152.45

Support levels: 149.90, 149.55, and 149.00

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

Technical analysis of NZD/USD for April 27, 2018

analytics5ae31956209ec.png

Our first downside target which we predicted in the previous analysis has been hit. NZD/USD is under pressure and expected to continue its downside movement. The pair remains under pressure below its nearest resistance at 0.7100, which is expected to hold any upside room. The 20-period moving average has reversed down, and is now crossing below the 50-period one (a negative signal). In addition, the relative strength index is bearish below its neutrality area at 50. In which case, as long as 0.7075 is not surpassed, it's likely to decline to 0.7020 and 0.6985 in extension.

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point, which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7095, 0.7130, and 0.7165

Support levels: 0.7020, 0.6985, and 0.6945.

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

Daily analysis of EUR/JPY for April 27, 2018

EUR/JPY

A bearish signal has been generated on this cross, which is partly due to the weakness in EUR. Unlike its USD/JPY counterpart, the EUR/JPY pair dropped sharply on Thursday, resulting in a short-term bearish bias in the market.

analytics5ae327e0ea7df.png

There is a Bearish Confirmation Pattern in the market. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level of 50. The market may thus go further downwards, reaching the demand zones at 131.50 and 131.00.

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

Daily analysis of USD/JPY for April 27, 2018

USD/JPY

This pair has gained about 180 pips this week, and the price is now close to the supply level at 109.00. There is an ongoing sideways movement in the context of an uptrend; but that is supposed to end soon. The supply level would be breached to the upside as the price targets other supply levels at 110.00 and 110.50.

analytics5ae327960de05.png

There is a Bullish Confirmation Pattern in the market, which is brought about by the recent rally. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level of 50. Since the outlook on the market is bullish, further bullish movement is anticipated, when the current consolidation ends.

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

Daily analysis of USD/CHF for April 27, 2018

USD/CHF

This pair has gained over 700 pips since the middle of February 2018. Price has been moving in a perpetual northwards mode this week, and it is now besieging the resistance level at 0.9900, which would soon be breached to the upside. The next target would then be the resistance level at 0.9950.

analytics5ae3273edcc4c.png

There is a Bullish Confirmation Pattern in the 4-hour chart. The EMA 11 is above the EMA 56, and Williams' % Range period 20 is in the overbought territory. Since the outlook on the market is bullish, further bullish movement is anticipated.

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

Daily analysis of Gold for April 27, 2018

analytics5ae324ae4a12f.png

Overview

Gold price continues to fluctuate around the 1316.48 level and attempts to break it, to keep the bearish trend scenario suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, reminding you that our next target is located at 1301.20, while holding below 1335.40 represents the most important condition to continue the expected decline. The expected trading range for today is between the 1295.00 support and the 1325.00 resistance.

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

Daily analysis of Silver for April 27, 2018

analytics5ae324674a126.png

Overview

Silver price ended yesterday's trading below 16.56, which brings the price back to the sideways range, the signs of which appear on the chart, where its lines represented by the 16.15 support and the 16.80 resistance. Therefore, we believe that the sideways track will dominate the intraday trading until the price manages to breach one of the above mentioned levels. The expected trading range for today is between the 16.15 support and the 16.80 resistance.

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

Technical analysis of USD/JPY for April 27, 2018

analytics5ae322da0055b.png

USD/JPY is expected to trade with bullish outlook. The pair is consolidating above the key support at 108.95, which should maintain the buying interest. The relative strength index broke above its neutrality level at 50, calling for a further advance. Therefore, as long as 108.95 holds on the downside, look for a rise with targets at 109.80 and 110.00 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point indicates a short position. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, stop loss at 108.95, take profit at 109.80.

Resistance levels: 109.80, 110.00, and 110.45

Support levels: 108.75, 108.50, and 108.00.

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

Fundamental Analysis of AUD/JPY for April 27, 2018

AUD/JPY is currently corrective itself in a volatile inside the mid-range between 82.00 to 84.50 area from where it is expected to push higher in the coming days. This week, AUD failed to provide extra push with the economic reports to regain its momentum with counter pressure in the market. This week, AUD CPI report was published with a decrease to 0.4% from the previous value of 0.6% and Trimmed Mean CPI report was published with an increase to 0.5%, as expected, from the previous value of 0.4%. Though the result was quite mixed in nature, but was not sufficient to provide the required momentum for AUD to push the price higher against JPY. Today, AUD PPI report was published with slightly better than expected value of 0.5% though decreasing from the previous value of 0.6% which was expected to decrease to 0.4%. On the JPY side, it gained certain momentum over AUD after having unchanged BOJ Policy Rate at -0.10% today. The BOJ Policy Statement has been quite hawkish with the increase in certain sectors which is expected to play a vital role in the economy development in the coming days. As of the current scenario, AUD is expected to gain certain momentum against JPY, but the corrective price action and volatile structure is going to persist further in the coming days until a strong high impact economic report on either side helps to gain impulsive momentum with definite non-volatile trend pressure.

Now let us look at the technical view. The price has formed a bullish divergence recently which is expected to push the price higher in the coming days. Though the price is currently residing inside a corrective volatile range, but after violating the dynamic level of 20 EMA resistance, it is expected to push higher towards the 84.50 price area in the future. As the price remains above the 82.00 area with a daily close, further bullish pressure is expected to continue.

analytics5ae31d437fe4c.png

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

BITCOIN Analysis for April 27, 2018

Bitcoin is currently correcting itself above the $9,000 price area which is expected to push higher towards the psychological price area of $10,000 in the coming days. The recent Bitcoin network and transaction cost, improved development and an increase in the transaction speed have lead the demand of Bitcoin to rise in a good pace which is expected to push the price much higher than $10,000 in the future. The appreciation in the value of Bitcoin is quite as expected, having better fundamental aspects, increasing the demand of Bitcoin along the way. As of the current scenario, the price is residing above the Kumo Cloud along with confluence from the dynamic levels of Tenkan, Kijun and 20 EMA as well. The market is currently in a bullish bias and expected to continue to push higher as the price remains above $8,500 with a daily close.

analytics5ae31ff3debb9.png

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

Technical analysis of USD/CHF for April 27, 2018

analytics5ae31f435ff09.png

All our upside targets which we predicted yesterday have been hit. The pair is heading upward towards 0.9945, backed by its rising 20-period moving average. Furthermore, the relative strength index is bullish above its neutrality area at 50. Last but not least, the process of higher highs and lows remains intact on the prices. In these perspectives, as long as 0.9865 is not broken, look for a new rise to 0.9945 and 0.9970 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point indicates a short position. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, stop loss at 0.9865, take profit at 0.9945.

Resistance levels: 0.9945, 0.9970, and 0.9995

Support levels: 0.9845, 0.9810, and 0.9770.

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

Main trends : Euro, pound and oil

Eurozone

Following the ECB meeting on Thursday, it kept the current monetary policy of zero-rate loan rate and a depositary rate of -0.4% unchanged. Actually, the meeting was held in strict accordance with expectations, and therefore, the foreign exchange market reacted calmly to the results.

The asset repurchase program is retained at least until September 2018, and there were no statements that could indicate an extension of the program's operation for a longer period. At the next press conference, Mario Draghi has delivered exactly the words that the market was waiting for him, focusing on the pace of the economic growth. According to him, the main threat is because of the external factors, in particular, Draghi singled out "protection risks". It's easy to see that Draghi was referring to the growing confrontation with the US on customs regulation and market openness between the closest allies.

There is also a positive trend in wage growth, which increases the ECB's confidence in the growth of inflation.

analytics5ae2bb7ece68d.png

At the same time, it should be noted that the growth of inflation will be based largely on the growth of prices for energy carriers, in particular, oil and with a certain lag - natural gas, which will reduce the competitiveness of the European economy. If current trends continue, then an expensive oil will provide an incentive for the development of the American economy and cause a flow of capital from the eurozone overseas. A trend that is dominant if one considers the prospects for the euro.

As a result of the day, the quotation of the EUR/USD pair fell to 1.21 and the prospect of updating the annual minimum became even more pronounced. For today, trades on the main currency pair will also go down with the possibility of the price to fall below the 200-day average, which runs at 1.2144.

United Kingdom

After the confidence of investors about the rate increase at the meeting of the Bank of England in May had seriously weakened by the statement of Mark Carney, the players began to pay attention to macroeconomic indicators, which lately seem to be unconvincing.

CBI notes a decrease in sales in retail trade by 2% in April, after which a decrease of 8%from a month earlier indicates the development of negative sentiment. The dynamics of industrial orders are negative as the index was 4p in April. The slowdown has been observed for the 5th month in a row. Production of cars in 1 square decreased by 6.3%, and the consumer confidence index from Gfk has firmly entrenched into the negative territory.

analytics5ae2bb9202930.png

Today, the first preliminary estimate of GDP growth rates of 1 sq. M will be published but the forecasts are rather pessimistic. A 1.4% growth is expected on an annual basis, Real results may be worse given the prevalence of negative changes in recent months.

The Brexit situation has again played with new colors, wherein contradictions are growing in the British establishment. As you know, Teresa May intends to withdraw from the customs union with the European Union but the Upper House of the British Parliament decided to challenge her decision and plans to hold a vote on this matter in May. Internal contradictions weakened the position of the UK and exerted additional pressure on the pound.

Despite the fact that the pound is still in the uptrend, its power is in question. The next few days are spent under the sign of the dollar dominance. Meanwhile, the GBP / USD rate can already test the support of 1.3710 in the near future.

Oil

The price of oil is weaker, responding to EIA and API data on reserves. Published on Thursday, the EIA report showed an increase in crude oil reserves of 2.2 million barrels, while a decrease of 2.04 million is expected. However, quotations remained near the highs reached on the eve. The concept of "expensive oil" fits perfectly into the plan for reforming the American economy, since it allows to increase the loading of the industrial sector, and everything goes to the fact that the trend will continue. There is a risk of a correction to $ 70 per barrel in the coming days, but the overall trend remains growing.

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

Trading plan 04/27/2018

Trade plan 04.27.2018

The picture: The dollar is ready to continue its uptrend.

The ECB meeting has passed and the investors were not inspired by Draghi's performance. The euro fell as it moved towards 1.2100.

The focus of news on the U.S. for today: the significant report on the U.S.GDP for the first quarter at 12.30 London time.

Analysts predict a decline in growth to + 2% per annum, but at the same time, inflation growth in GDP to + 2.4%.

At the same time, orders for durable goods are held at high + 8% per annum.

In general, looking at the data we expect a new round of dollar growth.

GBP/USD pair: The pound may start a rebound to the top.

We can purchase this pair from 1.4000 with the target level at 1.4100.

analytics5ae2c340336fc.jpg

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

Fundamental Analysis of AUD/USD for April 27, 2018

AUD/USD has been quite non-volatile and impulsive with the bearish gains recently which lead the price to fall from 0.7750 to 0.7550 support area without any bullish interference along the way. AUD started to lose momentum against USD since the last week's worse Employment Change report was published along with an unchanged Unemployment Rate report. This week AUD failed to provide extra push with the economic reports to regain its momentum with counter pressure in the market. This week AUD CPI report was published with decrease to 0.4% from the previous value of 0.6% and Trimmed Mean CPI report was published with an increase to 0.5% as expected from the previous value of 0.4%. Though the result was quite mixed in nature but was not sufficient to provide the required momentum for AUD to push the price higher against AUD. Today AUD PPI report was published with slightly better than expected value of 0.5% though decreasing from the previous value of 0.6% which was expected to decrease to 0.4%. On the other hand, having series of positive economic reports recently USD managed to sustain its bearish momentum in the pair leading to extensive gains against AUD. Today USD Advance GDP report is going to be published which is expected to decrease to 2.0% from the previous value of 2.9%, Advance GDP Price Index report is expected to decrease to 2.2% from the previous value of 2.3% and Employment Cost Index is expected to increase to 0.7% from the previous value of 0.6%. Moreover, Revised UoM Consumer Sentiment is expected to have a slight increase to 98.0 from the previous figure of 97.8 and Revised UoM Inflation Expectation is expected to increase as well from the previous value of 2.7%. As of the current scenario, USD economic reports forecasts are not quite optimistic this time whereas AUD having a positive economic report today expected to show some bullish momentum in the pair whereas USD may lose some grounds in the process of corrective retracement. To sum up, AUD is expected to gain certain bullish momentum in the pair for the coming days before USD takes charge again to push the price much lower in the future.

Now let us look at the technical view. The price is currently residing at the edge of 0.7550 support area from where it is expected to push higher towards 0.7800-50 area before showing any bearish impulsive price action in the coming days. AUDUSD having Bullish Divergence in place, the bullish retracement is expected to be quite imminent. As the price remains below 0.7750 with a daily close, a further bearish pressure is expected.

analytics5ae3027d51353.png

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

Fundamental Analysis of GBP/JPY for April 27, 2018

GBP/JPY has been quite impulsive with the bearish gains below 152.50 price area which is currently residing at the edge of breaking below the support of 150.00. JPY gained impulsive momentum over JPY after having unchanged BOJ Policy Rate at -0.10% today. The BOJ Policy Statement has been quite hawkish with the increase in certain sectors which is expected to play a vital role in the economic development in the coming days. On the other hand, today GBP Prelim GDP report was published with decrease to 0.1% from the previous value of 0.4% which was expected to be at 0.3%, Index of Services also decreased to 0.4% which was expected to be unchanged at 0.6% and Nationwide HPI report was published with an increase as expected to 0.2% from the previous negative value of -0.2%. As of the current scenario, JPY has been quite positive with the economic reports and upcoming economic development plans discussed in the events held today whereas GBP is expected to struggle further in the coming days having worse high impact economic reports published today. To sum up, JPY is expected to have an upper hand over GBP in the coming days.

Now let us look at the technical view. The price is currently residing below the dynamic level of 20 EMA after an impulsive bearish today continuing to push the price much lower today. There are still certain chances of bulls to interfere in the impulsive bearish pressure off the 150.00 support area but as of the current bearish impulsive push lower, the price is expected to break below 150.00 support area and proceed much lower towards 147.00-50 in the coming days. As the price remains below 153.00 price area, the bearish bias is expected to continue.

analytics5ae2fef197351.png

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

Global macro overview for 27/04/2018

Wall Street on Thursday focused primarily on quarterly reports of companies. The yield on ten-year bonds returned before the session to the level of 3% and the rest maintained, what bulls on the stock market must have liked. Everything promised a reflection of the indexes.

A report from the labor market was published and the market participants learned that 209k new applications for unemployment benefits were submitted last week (expected 231 thousand). The average of four weeks for these data has decreased. March orders for durable goods increased by 2.6% m/m (1.4% expected). Orders without means of transport have not changed (an increase of 0.5% was expected).

Moreover, Wall Street had to digest many reports from quarterly companies. After the Wednesday session in the US, quarterly reports presented, among others: AMD, AT & T, eBay, Facebook, Qualcomm, Visa. The results were generally better than expected and only eBay shares were cheaper. On the other hand, it was 10% more expensive than Facebook. Before the Thursday session, many companies also published reports, but most of all they waited for what they would show after the Thursday session of Amazon.com, Intel, Microsoft, and Starbucks.

Bulls on Wall Street were supported not only by the results of the companies and the bond market but also by the fact that the SP500 index for the second time defended on Wednesday the average 200th session. The indexes have been growing rapidly since the beginning of the session. The SP500 index ended the day with an increase of 1.06%. Of course, NASDAQ gained the most (it gained 1.64%). Such a strong correction may, but does not have to start a long period of increases. Much will depend on bond yields.

Let's now take a look at the SP500 technical picture at the H4 time frame. The market has retraced 61% of the previous swing sown and was capped at the level of 267.28. The next technical support is seen at the level of 265.34 and the next technical resistance is seen at the level of 267.96.

analytics5ae2fec9e1286.jpg

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

Global macro overview for 27/04/2018

The European Central Bank will pay close attention to the deterioration in data visible in Europe since the beginning of the year. A cautious attitude translates into a sell-off of the euro, especially as data from the US looks very good at the same time.

The ECB will continue a cautious approach because there is still a lot of time to end the bond-buying program, and macroeconomic data have recently deteriorated. The message itself could have somewhat disappointed the markets, as the assurance that the program would be extended if the need arose was maintained. Meanwhile, two weeks ago, individual members of the ECB Council indicated that the program should be finalized this year. President Mario Draghi noted the deterioration visible in macroeconomic data, focusing on PMI indicators. Recall that the PMI for the Eurozone industry deteriorated in each of the first four months of the year. Draghi noted that this may be a period of normalization after a strong recovery in 2017, but he added quickly that the ECB will closely watch whether sometimes it is not a deeper process that could significantly undermine the entire recovery and dismantle the inflation target. For the markets, it is also a clear signal that central banks will react to the effects of oil, which is currently very expensive. The ECB makes it clear that it is simply running its game and does not intend to change anything. Thus, current trends clearly prefer the dollar and as a result, the pair of EURUSD have the strongest declines this week for over 2 months and at the same time the lowest level since the first week of the year. However, it is worth remembering that the dollar remains overvalued in the long term, and the White House's intention is not a strong currency, which is why in my view the dollar strengthening is corrective and probably the majority of this correction is behind us already.

Let's now take a look at the EUR/USD technical picture in the H4 time frame. The market has hit the level of 1.2154 and now this level will act as a resistance to the price. The projected target for the current wave down is at the levels of 1.2079 (127% Fibo Ext) or 1.2054 (50% Fibo Ret of the larget time frame). Please notice the down move is now mature and the corrective pull-back might start very soon. The overbought market conditions and clear bullish divergence support the short-term bullish outlook.

analytics5ae2f8370db41.jpg

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

Technical analysis of NZD/USD for April 27, 2018

analytics5ae2eab4770b6.png

The NZD/USD pair didn't make significant movement yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 0.6983 or lower. This week the NZD/USD pair opened below the weekly pivot point (0.7110). The major resistance is seen at the point of 0.7110. It continued to move downwards from the level of 0.7110 to the bottom around 0.7072. Today, the first resistance level is seen at 0.7148 followed by 0.7195, while daily support 1 is seen at 0.7072. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 0.7110. So it will be good to sell at 0.7110 with the first target of 0.7072. It will also call for a downtrend in order to continue towards 0.7026. According to the previous events, we expect the NZD/USD pair to trade between 0.7110 and 0.7026 in coming hours. The price area of 0.7148 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 0.7148 is not broken. On the other hand, in case a reversal takes place and the NZD/USD pair breaks through the resistance level of 0.7148, then a stop loss should be placed at 0.7195.

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

Technical analysis of USD/CHF for April 27, 2018

analytics5ae2ec0adb554.png

Overview:

The USD/CHF pair continues to move upwards from the level of 0.9846. Yesterday, the pair rose from the level of 0.9846 to a top around 0.9919. Today, the first support level is seen at 0.9846 followed by 0.9788, while daily resistance 1 is seen at 0.9953. According to the previous events, the USD/CHF pair is still moving between the levels of 0.9879 and 0.9953; for that, we expect a range of 74 pips (0.9953 - 0.9879). On the one-hour chart, immediate resistance is seen at 0.9919, which coincides with a ratio of 100% Fibonacci retracement. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above the moving average (100) and (50), Therefore, if the trend is able to break out through the first resistance level of 0.9953, we should see the pair climbing towards the daily resistance at 0.9987 to test it. It would also be wise to consider where to place stop loss; this should be set below the second support of 0.9788.

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

Elliott wave analysis of EUR/NZD for April 27, 2018

analytics5ae2ea6583a82.png

EUR/JPY - 4 Hourly

EUR/NZD peaked at 1.7257 and we should now see a correction towards at least 1.7033 and likely even closer to the 50% corrective target at 1.6964.

Once this correction is complete, we expect the long-term uptrend to be re-railed for the next rally higher towards 1.7479 on the way towards 1.8473 and ultimately the long-term target near 1.9844, which also marks the 50% corrective target of the decline from 2.5773 to 1.3880.

R3: 1.7191

R2: 1.7166

R1: 1.7145

Pivot: 1.7120

S1: 1.7089

S2: 1.7050

S3: 1.7033

Trading recommendation:

We sold EUR at 1.7165 and will move our stop lower to breakeven at 1.7165.

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

Elliott wave analysis of EUR/JPY for April 27, 2018

analytics5ae2e84eda1d5.png

EUR/JPY - 4 Hourly

EUR/JPY is following the expected path lower and should be headed lower to the next minor target at 131.47.

Longer term, we are looking for wave C to decline close to 124.94 and maybe slightly lower. This decline should complete wave (E) of the huge triangle consolidation, that has been developing since July 2008, so once this triangle finally completes the upside potential is huge.

R3: 132.90

R2: 132.55

R1: 132.20

Pivot: 132.00

S1: 131.75

S2: 131.35

S3: 131.06

Trading recommendation:

We are short EUR from 132.85 and we will move our stop lower to breakeven.

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

Bitcoin analysis for April 27, 2018

analytics5ae2e7e28a5da.png

The Bitcoin (BTC) has been trading sideways at the price of $9,217. The cryptocurrency mining industry is spread all over the world and includes everyone from small miners with a few GPUs at home to vast data centers with both ASICs and racks of endless GPUs. As such, one of the best ways to get an overall view of the market is via the chip suppliers. And the latest report by AMD shows the demand for mining capacity remained strong in early 2018, despite a slump from the price highs of 2017. Technical picture looks neutral to bullish.

Trading recommendations:

According to the H4 time frame, I found rejection of support at the price of $8,724, which is a sign that selling looks risky. I also found reading above 30 level on the ADX indicator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of $9,700.

Support/Resistance

$9,286 – Intraday resistance

$8,600– Intraday support

$9,700– Objective target

With InstaForex you can earn on cryptocurrency movements right now. Just open a deal in your MetaTrader 4.

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

GBP/USD analysis for April 27, 2018

analytics5ae2e1d3a45ff.png

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3809. According to the H4 time frame, I found strong selling pressure on the market, which is a sign that buying looks risky. I also found a broken consolidation pattern, which is another sign of weakness. My advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of 1.3720.

Resistance levels:

R1: 1.3976

R2: 1.4040

R3: 1.4080

Support levels:

S1: 1.3873

S2: 1.3832

S3: 1.3770

Trading recommendations for today: watch for potential selling opportunities.

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

Analysis of gold for April 27, 2018

analytics5ae2ded8f3442.png

Recently, gold has been trading downwards. As I expected, the price tested the level of $1,314.86. According to the H4 time frame, I found a successful rejection of 21 exponential moving average in the background, which is a sign that sellers are in control. I also found ADX reading above 30, which is another sign of strong supply. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,307.30.

Resistance levels:

R1: $1,323.92

R2: $1,330.92

R3: $1,335.23

Support levels:

S1: $1,312.61

S2: $1,308.30

S3: $1,301.30

Trading recommendations for today: watch for potential selling opportunities.

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

Trading plan for gold for April 27, 2018

analytics5ae2d1e03aeb6.jpg

Technical outlook:

Gold 4H chart has been presented here for a larger swing picture. After consolidating for past several weeks, the yellow metal finally peaked at $1,365.00 on April 11, 2018. Since then the story is of lower lows and lower highs and it is still expected to continue the same. Looking at the short term structure, the metal is expected to find the interim support around $1,310 levels. Besides, the the fibonacci extension of 61.8% is also seen to be around $1,313 levels, and hence bullish reversal is expected soon. Please note that this should not be considered as a trend reversal but just a corrective rally is expected for now. Looking at the wave counts, the yellow metal seems to be into its 3rd wave now, which is most likely to end soon. Conservative traders should be looking to book profits in the short term and look for opportunities higher to sell again.

Trading plan:

Aggressive traders look to go long with stop below $1,305 levels. Conservative traders please take profits on short positions taken earlier and remain flat.

Fundamental outlook:

Watch out for German unemployment rate at 03:55 AM EST today.

Good luck!

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

Burning Forecast 04/27/2018

Burning Forecast 04/27/2018

EURUSD: The downward trend is not canceled.

On Thursday, ECB head Draghi tried to support the euro. He even managed to do it slightly - the euro jumped back up to 1.2209 - on Draghi's promises that in the next few quarters the economy of the Eurozone will show strong growth. However, what Draghi did was enough for about an hour.

The euro powerfully broke through the lows and closed the day around 1.2100.

The trend is downward. Sell from 1.2160, the target is 1.2000, the stop is 1.2210.

Full Cancellation at 1.2250.

analytics5ae2c2a35efb5.jpg

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

Trading Plan for GBP/USD for April 27, 2018

analytics5ae2c8e09b146.jpg

Technical Outlook:

The GBP/USD 4H chart has been presented here for a larger swing picture. Immediate trading opportunities seem to be on the long side for now since the pair has broken its short-term trend line support and also price at 1.3950/70 levels earlier. Looking at the wave counts, GBPUSD looks to have completed 5th of the 5th wave of a larger degree on April 17th, 2018, at 1.4375 levels. The single currency pair has given away almost 500 pips since then and the wave counts suggest that the drop has been an impulse; 5 waves as depicted here. If the above structure holds, we are very close to see a price reversal from here and bulls will come into play, though in a corrective way. Aggressive traders may look for opportunities to go long with a tight risk below recent lows. Also, note that the back side of the trend line support is seen around 1.4135 levels which should act as a formidable resistance level going forward.

Trading plan:

Aggressive traders prepare to go long now with a tight stop below 1.3880 levels, target around 1.4135 levels respectively.

Fundamental outlook:

Watch out for German unemployment rate at 0355 AM EST today.

Good luck!

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

Trading plan for 27/04/2018

Almost zero volatility accompanied the currency trading overnight. AUD, NZD, and CAD have shown a minimum weakness to the USD, while the EUR slightly better. The stock market in Asia mostly continues the green cycle behind Europe and Wall Street. A boring night in oil and gold.

On Friday 27th of April, the event calendar is busy in important data releases. The Bank of Japan press conference will take place during the early hours of the London session. Spain will release quarterly Flash GDP data, UK will post Preliminary quarterly GDP data and the US will reveal Advance GDP data. Two speeches are scheduled for today as well: the first one from the SNB Chairman Thomas Jordan and the second from BoE Governor Mark Carney.

USD/JPY analysis for 27/04/2018:

The Bank ofJapan maintained the policy parameters unchanged, just as the market participants expected. The decision was taken by a majority of 8: 1 votes - Kataoka again requested to increase the loosening. A slightly dovish element of the BoJ policy statement was to remove the expected date of reaching the inflation target of 2.0% in the fiscal year 2019.

Let's now take a look at USD/JPY technical picture at the H4 time frame. The market is drifting close to the level of 109.20, showing no more reaction after the decision of the Bank of Japan. The nearest technical support is seen at the level of 109.06 the next one at the level of 108.54. The slowing momentum and the overbought market conditions are indicating a possible pull-back towards this levels during the trading day.

analytics5ae2c311c09c9.jpg

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

Technical analysis of USDX for April 27, 2018

The Dollar index has almost reached our target of 91.70. Now trading around 91.62 I believe it is time for Dollar bulls to be cautious. Not only because the 91.70-92 area is strong technical resistance, but also because we observe price making unconfirmed by the RSI new highs. This bearish divergence must be cautiously monitored. This bearish divergence makes me decrease long exposure in the Dollar and warns me of a pullback.

Blue line - resistance

Green line - support

Black line - bearish divergence

The Dollar index is rising in a parabolic move higher towards our target. Price is above both the tenkan- and kijun-sen indicators. Support by the tenkan-sen is at 91.30. A confirmation of a trend reversal will come once this level is broken downwards. Cloud support is at 90.50. The RSI is diverging not confirming the new highs by the index. This is another warning that should be taken into serious consideration. I prefer to take profits on the Dollar index longs as I believe a strong pullback should be expected today or early next week.

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

Ichimoku cloud indicator analysis of Gold for April 27, 2018

The Gold price continues lower towards our $1,310 target. The trend remains bearish. Price is forming a bullish wedge pattern. I believe it is now time to close short positions and look for a Gold trend reversal at least for the short-term. Once Gold price breaks out above the wedge pattern, we will have our signal. In cloud terms, the trend remains bearish as long as the price is below $1,335.

analytics5ae2c0afd2a9b.png

Blue line - long-term resistance

Black lines - downward sloping wedge pattern

The Gold price has support at $1,307. The rejection at the $1,355-65 area was followed by a deep pull back as expected. Short-term resistance is at $1,322. A 4 hour close above that level will be a bullish reversal signal. The first target of the bounce will be at $1,332 and next - at the cloud resistance of $1,335-40. Gold bears should be very cautious at current levels chasing short positions. I believe this is the time to take profits. A strong bounce is expected if not a full-scale trend reversal.

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

Bitcoin analysis for 27/04/2018

The government of the Philippines will allow 10 Blockchain companies and cryptocurrencies to operate in a special economic zone, the Cagayan Economic Zone. The companies will be the first Blockchain and cryptographic companies that will legally operate in the Philippines after the Cagayan Economic Zone Authority (CEZA) has created a fintech center, which aims to create the Asian "Silicon Valley". CEZA is a state-owned enterprise that manages this special economic zone. Raul Lambino, the head of CEZA, said: "We intend to license 10 cryptocurrency platforms. They are Japanese, companies from Hong Kong, Malaysians, Koreans. They can go to extract cryptocurrencies, ICO or they can run the stock exchange". He stressed that fiat-crypto exchange and crypto-fiat transactions should be carried out outside the islands to avoid violating the Philippine law. Companies are expected to generate employment in exchange for the tax rebates they will receive. CEZA will also require companies to invest at least $ 1 million in two years and pay up to $ 100,000 in license fees. Lambino added that CEZA also wants to build a Blockchain and fintech university to provide qualified employees for new companies. Securities and Exchange Commission (SEC) in the Philippines in the first half of April issued an opinion on the cryptocurrency "Cloud Mining" contracts, demanding their classification as securities.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has bounced from the level of $8,617 (weekly pivot) and this low has been labeled as a possible wave (4) bottom. In that case, the price should now move up towards the level of $9,717 and break through it in order to complete the wave (5). The projected target is seen at the level of $10k. Please notice, the impulsive scenario invalidation level at $8,338 is still valid.

analytics5ae2bf747918d.jpg

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

Trading Plan for US Dollar Index for April 27, 2018

analytics5ae2b8a5dbb75.jpg

Technical outlook:

The US Dollar Index is also seen to be breaking out in an upswing since March 27, 2018, after having formed a higher low at 88.94 levels as seen here. Since then, the index has been forming higher highs and higher lows and is expected to continue the same until at least 95.00 levels. Looking into the wave counts, the US Dollar Index is seen to have completed its 3rd wave just around 91.50/60 levels. Also, it is seen to have hit the 61.8 percent Fibonacci extension as well, which should act as interim resistance for now. It is therefore recommended to take some profits on positional longs taken earlier and remain flat. For aggressive traders, a short opportunity is possibly seen on cards. Please note that support begins at around 90.70 levels and extends through 90.20/50 levels going forward.

Trading plan:

Aggressive traders might want to go short with a tight risk while conservative traders please take some profits now and remain flat.

Fundamental outlook:

Watch out for German Unemployment rate at 0355 AM EST today.

Good luck!

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

Trading Plan for EUR/USD for April 27, 2018

analytics5ae2af4ac0bf8.jpg

Technical Outlook:

he EURUSD pair has been dropping since March 27, 2018, after having produced a lower top at 1.2476 levels discussed earlier. Those positional traders who went short on our earlier suggestion should prepare to take some profits off the table around 1.2050/90 levels. The pair is almost there and a potential counter-trend rally may be on cards any moment now. For short-term aggressive traders, a counter-trend long strategy could be recommended. Please watch out for support and reversal around 1.2090 levels from here. In terms of wave counts as well, the 3rd wave of an intermediate degree should be nearing completion around the Fibonacci 0.382 extension at 1.2090 as shown here. Please note it is possible for the 3rd wave to exceed through above levels as well, in that case, 1.2050 levels would come into play. To simplify, EURUSD is going to remain a great chart to sell on rallies going forward.

Trading plan:

Aggressive traders might look to go long around 1.2090 levels with tight risk and target 1.2270 levels at least. A more conservative approach is to remain flat and sell again around 1.2270/1.2300 levels.

Fundamental outlook:

Watch out for German unemployment claims rate at 03:55 AM EST today.

Good luck!

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

Technical analysis: Intraday Level For EUR/USD, April 27, 2018

analytics5ae2a6623cd8d.jpg

When the European market opens, some Economic Data will be released such as Italian 10-y Bond Auction, German Unemployment Change, Spanish Flash GDP q/q, Spanish Flash CPI y/y, French Prelim CPI m/m, French Consumer Spending m/m, German Import Prices m/m, and French Flash GDP q/q. The US will release the Economic Data too, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Employment Cost Index q/q, Advance GDP Price Index q/q, 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: 1.2168.

Strong Resistance:1.2169.

Original Resistance: 1.2149.

Inner Sell Area: 1.2137.

Target Inner Area: 1.2109.

Inner Buy Area: 1.2081.

Original Support: 1.2069.

Strong Support: 1.2057.

Breakout SELL Level: 1.2050.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or 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: Intraday level for USD/JPY, April 27, 2018

analytics5ae2a617ac516.jpg

In Asia, Japan will release the Housing Starts y/y, BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate, Retail Sales y/y, Prelim Industrial Production m/m, Unemployment Rate, 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, Employment Cost Index q/q, Advance GDP Price Index q/q, and Advance GDP q/q. So, there is a probability the USD/JPY will move with a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 109.82.

Resistance. 2: 109.60.

Resistance. 1: 109.39.

Support. 1: 109.13.

Support. 2: 108.91.

Support. 3: 108.70.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or 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

BITCOIN Analysis for April 26, 2018

Bitcoin has been quite bearish recently after being rejecting the bulls off the $9,500 price area before hitting the psychological price area of $10,000. The bearish pressure was quite as expected having the Bearish Continuation Divergence in place while the price was impulsive with its bullish momentum along the way. The price is currently being corrected before launching higher with a bounce off the $8,500 price area in the coming days. Though the price action may seem quite choppy and corrective along the way towards $10,000 but the bullish pressure is expected to push the price higher once the correction completes soon. As of the current scenario, the price is currently residing inside the Kumo Cloud support area from where the price is expected to correct for a certain period before it pushes up higher towards $10,000 in the future. As the price remains above $8,500 with a daily close, the bullish pressure is expected to continue.

analytics5ae1f596d41ef.png

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

Fundamental Analysis of USDCAD for April 26, 2018

USD/CAD has been quite impulsive and as well as non-volatile recently which helped the bulls to gain consistent gains and sustain it pretty well. USD has been the dominant currency in most of the major currency pair whereas being impulsive with the gains against CAD is no different. Today US Core Durable Goods Orders report published today with a decrease to 0.0% from the previous value of 1.0% which was expected to be at 0.5%, USD managed to sustain the bullish pressure in the market today. Moreover, US Durable Goods Orders report was published better than expected but decrease to 2.6% from the previous value of 3.0% which was expected to decrease to 1.6%, Unemployment Claims had positive result of decrease to 209k from the previous figure of 233k which was expected to be at 230k, Goods Trade Balance report was published with less deficit at -68.0B from the previous figure of -75.9B which was expected to be at -74.8B and Prelim Wholesale Inventories had positive result of decrease to 0.5% from the previous value of 1.0% which was expected to be at 0.6%. On the CAD side, it has been struggling with the recent economic reports where the Employment reports were not that satisfactory and this week BOC Governor Poloz's speech was quite neutral with the upcoming developments of CAD which helped USD to gain more momentum in the process. As of the current scenario, USD is expected to extend its gains further in the coming days, whereas CAD might struggle to fight back until any positive high-impact economic report or event comes to the rescue in the future.

Now let us look at the technical view. The price is currently quite impulsive with the bullish pressure whereas yesterday's bullish rejection off the resistance area of 1.2900-50 shook up the market sentiment for a bit. As the price is residing below the resistance area of 1.2900-50, there are certain possibilities that bears can attack anytime soon. In this case, if the price manages to break above 1.2950, which is more likely as of the current market structure, the price is expected to push higher towards the 1.31 resistance area in the coming days. As the price remains above the 1.28 area, the bullish bias is expected to continue.

analytics5ae1f20292981.png

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