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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From the today's H4 chart, the metal is still trading above the Support level 22.00 and below the Resistance level 23.00 after it bounced from the Support level 22.00 yesterday....
The pair is still trying to break the Support level 155.80 since yesterday and trading below the downward trendline, as shown on the today's H4 chart....
The Flag pattern failed to reverse price to the upside on retesting due to the strong bearish pressure which pushed the pair again inside the channel below 1.0100....
Last week, 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. ...
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, especially on Friday....
Please pay attention to the levels of support 3 (101.75) and resistance 3 (102.81). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today. ...
Today EUR/USD has support and resistance at 1.2840 and 1.2926. The rate is accompanied by strong support at 1.2827 and by 1.2939 as strong resistance.
If EUR/USD breaks out and closes below the 1.2820 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.2946 level, then it will denote high bullish strength....
