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Tuesday, May 31, 2016

We still stay with the bullish outlook.... Read more .. rate GBP/USD

Daily  Report GBP/USD by  instaforex

As we expected, GBP/USD is doing a rebound above the 200 SMA on the H1 chart, in an effort to resume the bullish bias toward new highs on a short-term basis. 

The next resistance is still placed at the 1.4662 level, where a breakout should happen for further momentum in favor of the upward trend.

To confirm that a long-term bottom - a break above resistance at 126.47 will be needed. ... Read more .. rate EUR/JPY

Daily  Report EUR/JPY by  instaforex

We continue to look for more upside progress after a minor consolidation between 123.50 and 124.15  ..

 .. with the next minor upside target to look for seen at 124.65, and above here the important short-term resistance at 126.47 will be the target. 

Price remains inside the bearish channel and as long as we are inside it ... Read more .. Gold

Daily  Report Gold by  instaforex

Gold price held above $1,200 yesterday and bounced towards our first important short-term resistance of $1,215.

 Price remains inside the bearish channel and as long as we are inside it we can even see it near $1,190-80. 

Wednesday, May 25, 2016

A minimum drop towards 1.4300 level is still possible before .. Read more .. rate GBP/CHF

Daily  Report GBP/CHF by  instaforex

The GBP/CHF pair is seen to be trading at 1.4485/90 levels at this moment as expected and discussed yesterday. 

Please note that the pair had made highs at 1.4540 level earlier and might be looking to retrace lower before attempting to push higher towards 1.4700 level. 

In the short term, a break below minor support at 122.48 ... Read more .. rate EUR /JPY

Daily  Report  EUR /JPY by  instaforex

The sideways consolidation in the 122.30 - 122.80 area has been prolonged, but we still expect one ..


.. more spike lower to the ideal target near 122.12 before the correction from 124.35 is over and a new impulsive rally towards 126.47 and above should be expected. 

Bullish persistence above 1.3000 opens the way ... Read more ... rate USD/CAD

Daily  Report USD/CAD by  instaforex

On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation range) enhanced the bullish side of the market. 

Hence a bullish visit to the resistance at 1.4120 (Fibonacci Expansion 100%) occurred. Bullish persistence above 1.4150 enhanced the bullish side of the market towards 1.4650 (141.4% Fibonacci expansion) where an evident bearish rejection was expected (bearish engulfing weekly candlestick). 

The signs of a growing bullish divergence might trigger the relief rally, but .. Read more .. rate EUR/USD

Daily  Report EUR/USD by  instaforex

The German ZEW Economic Sentiment data released yesterday were significantly worse than expected. 

Marked participants anticipated slight improvement from the level of 11.2 last month to 12.1, but the actual print of 6.4 leaves not room to doubt, that the Brexit uncertainty is starting to affect other Eurozone countries.

Tuesday, May 24, 2016

USD/CHF is expected to trade with a bullish bias.... Read more .. rate USD/CHF

Daily  Report USD/CHF by  instaforex

USD/CHF is expected to trade with a bullish bias. The pair failed to break its nearest resistance at 0.9925 yesterday and is currently posting some consolidations.

 Even though a continuation of the consolidation in the current stage cannot be ruled out, its extent should be limited.

Bears are in full control over this market ... Read more .. rate AUD/USD

Daily  Report AUD/USD by  instaforex

In his recent speech, the Reserve Bank of Australia's outgoing Governor Glenn Stevens, has been defending the RBA inflation target projections despite the overwhelmingly low inflation levels around the globe.

 As he said, the inflation can not be controlled in the very short term as the results are getting more visible as the time goes by. 

Ttrend remains bullish for the medium-term despite any short-term weakness .. Read more .. USDX

Daily  Report USDX by  instaforex

The Dollar index is showing signs of a short-term top but sellers are yet not strong enough to push price below 95. 

Only then we will have a reversal confirmation. 

Monday, May 23, 2016

The pair looks to have resumed its downtrend towards... Read more .. rate EUR/JPY

Daily  Report EUR/JPY by  instaforex

The EUR/JPY pair continues to drift in a range between 123.00 and 124.00 levels as depicted here.


 The pair is now seen to be trading at 123.00 levels, looking to break below the range support.

One more higher high is still being anticipated as well, because ... Read more ..rate USD/CAD

Daily  Report USD/CAD by  instaforex

The anticipated wave iv corrective cycle is currently unfolding just above the weekly pivot at the level of 1.3056. 

One more higher high is still being anticipated as well, because wave v is still not completed.

Gold price remains in a bearish trend and despite the pause in the decline .... Read more ..

Daily  Report Gold by  instaforex

Gold price remains in a bearish trend and despite the pause in the decline from $1,290 ..


.. I expect price to move lower over the coming weeks as the weekly chart shows more weakness should be expected towards $1,200. 

Friday, May 20, 2016

The weekly channel remains very bullish after .... Read more ..USDX

Daily  Report USDX by  instaforex

The Dollar index continues to trade in an uptrend. 


However, there are signs that a short-term reversal is coming so Dollar bulls should not forget to take profits from this upward move. 

If the trend breaks the minor resistance at 0.9952, the pair will move ... Read more ..rate USD/CHF

Daily  Report USD/CHF by  instaforex

The USD/CHF pair is showing signs of strength following a breakout of the highest level of 0.9846.


 On the daily chart the level of 0.9846 coincides with 61.8% of Fibonacci, which is expected to act as a minor support today. Since the trend is above the 61.8% Fibonacci level, the market is still in an uptrend.

As long as it is not violated, the level of 1.4546 bulls are ... Read more .. rate GBP/USD

Daily  Report GBP/USD by  instaforex

Another set of data had been released yesterday from the UK and this time it was retail sales with auto fuel. 

The figures were better than expected as the sales surged 1.3% vs. 0.6% expected and -0.5% prior. Moreover, the Office for National Statistics revealed that on the year-to-year basis the retail sales climbed 4.3%. In conclusion, the data suggests that after a sluggish start of the year, the British economy might be heading towards a mild economic growth in the second quarter. 

Bears are still in control over this market ... Read more ..rate USD/JPY

Daily  Report USD/JPY by  instaforex

The core machinery orders data from Japan has been released overnight and it has surprised investors. 

Core orders, a leading indicator of business investment, surged 5.5% from the previous month, stronger than a 0.7% increase expected by economists. Moreover, on an annual basis, core orders surged 3.2%, much more than 0.8% expected by market participants.

Thursday, May 19, 2016

It should be just a matter of time before a new strong rally ... Read more .. rate EUR/JPY

 Daily  Report  EUR/JPY by  instaforex

It should be just a matter of time before a new strong rally to 124.65 and higher towards 126.47 is seen. 

We still need a break above the important resistance at 126.47 to confirm that a long-term corrective ..

The pair is trading above its pivot point. It is likely to trade in a wider range as long as ... Read more ..rate USD/JPY

Daily  Report USD/JPY  by  instaforex

USD/JPY is expected to trade with a bullish bias. Overnight US stock indices pared gains to end little changed after the latest minutes of the US Federal Reserve's monetary policy meeting indicated that interest rates could still be raised in June. 

The Dow Jones Industrial Average and the S&P 500 were broadly flat at 17526 and 2047 respectively, while the Nasdaq Composite was up 0.5% to 4739. Financial shares were the best performers, while utilities came under pressure. Nymex crude oil declined 0.3% to $48.19 a barrel. 

Bullish persistence above 1.3000 opens the way... Read more ..USD/CAD

Daily  Report  USD/CAD by  instaforex

On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation range) enhanced the bullish side of the market. 


Hence a bullish visit to the resistance at 1.4120 (Fibonacci Expansion 100%) occurred. Bullish persistence above 1.4150 enhanced the bullish side of the market towards 1.4650 (141.4% Fibonacci expansion) where an evident bearish rejection was expected (bearish engulfing weekly candlestick). 

Wednesday, May 18, 2016

It can produce intraday rallies but remain in control of bears till prices remain ... Read more .. Silver

Daily  Report Silver by  instaforex

Silver is seen to be trading at $17.03 levels. 

It can produce intraday rallies but remain in control of bears till prices remain below $18.00 levels. 

The current Fed Funds Futures probability of a June rate hike is lower than 4%, but any hawkish statements in the minutes might change this situation in a blink of an eye... Read more ..

Daily  Report USDX by  instaforex

The most important event of the week has arrived as the market participants will have a chance to get an insight into the latest FOMC meeting minutes today at 06:00pm GMT.


 After the meeting on April 27, the Fed released a statement that downgraded some overseas risks, but admitted to a slowdown in the US economy. 

The next resistance for bulls is at the level of 51.00 ... Read more ..Crude Oil

Daily  Report Crude Oil by  instaforex

The crude oil Inventories data is scheduled for the release today at 02:30pm GMT. 


The market participants expect another draw down in stockpiles (-3,500k vs. -3,410k prior) and the price of crude remains at a 6-month high ($48.11 at the time of writing). 

Tuesday, May 17, 2016

The chances for a downward trend continuation are high ... Read more ..rate EUR/JPY

Daily  Report EUR/JPY by  instaforex

After the lading diagonal wave (i) has been made, the first corrective cycle to the upside looks completed as well. 

Nevertheless, please remember that the invalidation of this structure is at the level of 124.65, so as long as the internal corrective cycle in a potential wave (ii) green is developing below this level, the chances for a downward trend continuation are high.

The Dollar looks like it has run out of fuel ... Read more .. USDX

Daily  Report USDX by  instaforex

The Dollar looks like it has run out of fuel and needs to see some selling before another attempt to the upside. 

The Dollar index is breaking below the black trend line support and this implies more short-term weakness ahead. 

The USD/CHF pair broke resistance, which turned into strong support at the level of 0.9735 ... Read more

Daily  Report USD/CHF  by  instaforex

The USD/CHF pair broke resistance, which turned into strong support at the level of 0.9735 last week. 

The level of 0.9715 coincides with a golden ratio (78.6% of Fibonacci), which is expected to act as major support today.

Monday, May 16, 2016

The pair bounced off its key support at 0.9700 and is likely to challenge its nearest resistance ... Read more.. USD/CHF

Daily  Report USD/CHF by  instaforex

USD/CHF is expected to post some further gains. The pair bounced off its key support at 0.9700 and is likely to challenge its nearest resistance at 0.9795. 

The 50-period moving average acts well as support and should continue to push the prices higher. 

Gold remains supported and mainly moves sideways in a neutral range ... Read more .. Gold

Daily  Report Gold by  instaforex

Gold remains supported and mainly moves sideways in a neutral range between $1,290 and $1,250. 


A breakout above or below this range will push the price towards $1,350 or $1,190 respectively.

Bulls are still in control over this market in the medium-term, but they need to break out ... Read more ..EUR/USD

Daily  Report EUR/USD  by  instaforex

The Friday's data on the US retail sales beat the market expectations. 


The market participants had expected a negative reading of -0.3%, just like a month before. Nevertheless, retail sales advanced 1.3% last month, the largest increase since March 2015. 

Saturday, May 14, 2016

The oscillator of the fast stochastic indicator refuses to act on the temporary correction with high probability... Read more USD/CAD

Technical Analysis chart .. by WorldMarkets

USD/CAD


The oscillator of the indicator MACD .. after a medium stay low over sold  price levels ... cut upwards giving a strong input signal by pushing the pair to the support of 1.253 .. in an upward movement as the strong resistance of 1.2995 .. he broke corrective action ... as the support of 1.2765 .. and the level of  ΕΜΑ  9 ..

A powerful downward candle Friday came to confirm the downward trend ... Read more EUR/JPY

Technical Analysis chart ...by WorldMarkets

EUR/JPY


A powerful downward candle Friday .. came to confirm the downward trend .. after the failure of the pair to move above the 50 EMA on 12/05 .. .. and downward angle taken by the EMA 9 .. 

Τhe trend remains bearish as long as the pair moves below the pivot point of ...Read more ..EUR/USD

Technical Analysis chart ...by WorldMarkets

EUR/USD


After several days of rotation at the level of  EMA  9 .. .. at 1.1395 the pair broke down after having broken the side support at 1.1366 in the EMA region 21 .. 

Αναμένεται σταθεροποίηση των specs θέσεων εναντίον short του ευρώ... ALPHA BANK

Απόσπασμα από το Εβδομαδιαίο Δελτίο Οικονομικών Εξελίξεων - Διεύθυνση Οικονομικών Μελετών ..ALPHA BANK 

Ισοτιμίες 
Σύμφωνα με τα στοιχεία του Χρηματιστηρίου του Σικάγο, οι τοποθετήσεις στο δολάριο ΗΠΑ (USD+DXY) για μη εμπορικές συναλλαγές (specs) την εβδομάδα που έληξε στις 3.5.2016 μειώθηκαν, με τις συνολικές καθαρές (αγορές μείον πωλήσεις) θέσεις σε αρνητικό επίπεδο για τρίτη φορά μετά από 101η εβδομάδες.

Friday, May 13, 2016

Traders were advised to consider the recent pullback towards 1.2970 as a valid signal to ... Read more..rate USD/CAD

Daily  Report USD/CAD  by  instaforex

A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart). A significant bearish rejection was observed around 1.3450.

 Hence another consolidation range was established from 1.3450 down to 1.2800. On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation range) enhanced the bullish side of the market. 

Daily Report in FOREX ..Read more..

Daily  Report in FOREX by  instaforex


EUR/USD: This pair is consolidating with fleeting upswings and downswings. Today or next week we could see a serious breakout from the current equilibrium phase, which would most probably favor the bears. The price is expected to go below the support levels of 1.1350 and 1.1300.

Thursday, May 12, 2016

Bears are still in control over this market and only a sustained violation of the level of 0.7490 would bring bulls back to the game.... Read more ..rate AUD/USD

Daily  Report AUD/USD by  instaforex

The Westpac-Melbourne Institute Consumer Sentiment Index jumped 8.5% in May to a January-2014 high of 103.2, after sliding to a seven-month low of 95.1 in April. 

This largest single increase since June 2010 was caused by the earlier rate cut by RBA , which improved the overall confidence of Australian citizens. 

The market is close to complete the overall corrective structure ... Read more ..rate USD/CAD

Daily  Report  USD/CAD by  instaforex

The downward wave progression is developing as anticipated, but the corrective pattern evolves towards z triple zig-zag. 

The projected tag for the wave c termination is still at the level of 1.2758, right at the technical support. 

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 ... Read more ..rate USD/JPY

Daily  Report USD/JPY  by  instaforex

USD/JPY is expected to trade with a bullish bias.Overnight U.S. stock indexes closed broadly lower, weighed by retail and consumer shares. 

Office Depot (ODP) slumped 40.4% and Staples (SPLS) dropped 18.3% after announcing the termination of their merger agreement. Macy's (M) fell 15.2% as it lowered its full-year guidance. 

There are increased chances that a high is in and that a push below $1,260 is coming... Read more .. Gold

Daily  Report Gold by  instaforex

Gold price has reached our targets of $1,270-80 for the bounce we expected. Now Gold price is already 10$ lower than its latest high and got rejected at the 50% retracement of the decline.

 There are increased chances that a high is in and that a push below $1,260 is coming. 

Wednesday, May 11, 2016

Bears are expected to gain control for short term but support ... Read more..Silver

Daily  Report Silver by  instaforex

Silver is trading at $17.30 levels at this moment after bouncing off $16.88 levels yesterday.


The metal might be looking to retrace lower towards $17.00 levels from here, before resuming rally. 

The bears might push the price even lower towards the technical support at... Read more rate ..USD/CAD

Daily  Report  USD/CAD by  instaforex

The intraday resistance at the level of 1.3015 had held the line and the market has reversed downwards. 

After the three wave internal correction the price is now trading just above the intraday support at the level of 1.2898, but the breakout lower is expected here. 

Dollar ...bulls need to be very cautious... Read more..USDX

Daily  Report USDX by  instaforex

The Dollar index is showing signs of a reversal and a short-term top in the making. I prefer to be neutral at current levels and wait and see if the pullback that I expect is supported and at which level buyers step in.

Tuesday, May 10, 2016

We can see the consecutive series of lower lows and lower highs which might be the first indication that bears are to be in control over this market .... Read more... DAX

Daily  Report Dax30  by  instaforex

Very good data from Germany regarding factory orders were released yesterday. 

Market participants expected a marginal gain from last month -0.8% to 0.7%, but it turned out the figures beat the expectations as they rose to the level of 1.9%.

The market is indicating a bullish opportunity above support levels... Read more ...USD/CHF

Daily  Report USD/CHF by  instaforex

The USD/CHF pair is showing signs of strength following a breakout of the highest level of 0.9700. 

On the H1 chart, the level of 0.9660 coincides with 61.8% of Fibonacci, which is expected to act as major support today.

When the corrective cycle is complete, there is still one more wave to the downside..... Read more ..rate EUR/JPY

Daily  Report EUR/JPY by  instaforex

The wave (b) of the internal corrective cycle is getting a little more complex than previously though.

 Currently it looks like an incomplete irregular corrective pattern with three possible targets for the wave c of wave (c): minimal, typical and maximal. 

Monday, May 9, 2016

Traders are advised to consider the current pullback towards 1.2970 as a valid signal ... Read more..rate USD/CAD

Daily  Report USD/CAD by  instaforex

A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart). A significant bearish rejection was observed around 1.3450. 

Hence another consolidation range was established from 1.3450 down to 1.2800. On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation range) enhanced the bullish side of the market. 

It looks like the bulls are still in control over this market and no signs of the exhaustion are visible just yet... Read more ..Crude Oil

Daily  Report Crude Oil by  instaforex

Over the weekend, the 81-year old Saudi Arabian Oil Minister, Ali al-Naimi, has been replaced by former head of state-owned oil company Aramco (Saudi Arabian Oil Co) Khalid al-Falih. 


Some oil analysts had been expecting such a change though, but the fact that he is the close ally of Deputy Crown Prince Mohammed bin Salman and does not have any OPEC experience doesn't look so far like a smart move at all.