We present to you the daily updated section of market analysis prepared by professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical reviews in accordance with his/her vision of the current situation on foreign exchange and other markets. However, the outlooks below are only recommendations and not instructions to any actions; they contain analysis of the current situation on the currency market. In some cases the analysts' opinions to changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation on the international Forex market.
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The weak bullish structure with integrated swings led to the price fall after the upper limit of the movement channel 1.5590-1.5600 had provided a considerable resistance for the pair....
We talked about consolidation of the pair within the price range 1.2950 -1.3240 and the importance of breakout off this zone for the liberation of the pair, now we have a pullback to this zone....
Since our last analyses the USD/CAD pair has been trading upwards, just like we expected, final wave 5 (coloured green) of the bigger wave (A) (coloured red) has started developing....
For the last few days the EUR/USD pair has been trading upwards, corrective wave (4) (coloured green) of the bigger wave 1 (coloured red) has been developing....
Supply zone located around 1.5550-1.5600 (the upper limit of the depicted bullish channel and 50% Fibonacci level) provided considerable resistance for the cable last week. ...
According to the previous events, the price has still been trapped between 0.8190 (50% of Fibonacci retracement levels) and 0.8120 (23.6% of Fibonacci retracement levels)....
The GBPUSD pair failed to break the resistance level 1.5270 and due to poor economic data released yesterday in the UK, the cable fell over 100 pips, finding support in the 1.5159 level. ...
