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Forex Analysis & Reviews

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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Mohamed Samy
Technical analysis
2016-05-04
324
visited:
The 1.3300 level stood as a significant resistance as it corresponds to the 50% Fibonacci level and the backside of the broken weekly uptrend where a valid sell entry was suggested on March 24. Since then, the USD/CAD pair has been trapped within the consolidation range between 1.3300 and 1.2970 until a bearish breakout took place on April 11. Shortly after, a quick bearish decline took place. However, early signs of bullish recovery are being expressed around 1.2460. Conservative traders are advised to consider any pullback towards 1.2970 (61.8% Fibonacci level) as a valid signal to sell the USD/CAD pair. S/L should be placed above 1.3050....
Mohamed Samy
Technical analysis
2016-05-04
217
visited:
In March, an obvious bullish breakout above 0.6750 and 0.6860 was executed. Hence, these price levels now constitute recent support levels to be watched for valid buy entries. Conservative traders were advised to have a BUY entry around the 0.6760 level. S/L should be raised to 0.6800. Any bearish pullback towards 0.6850 should be considered as a valid signal to BUY the NZD/USD pair. This week, bullish persistence above 0.6850 (recent support) is mandatory to maintain enough bullish momentum in the market. Bullish targets are projected towards 0.6960, 0.7050, and 0.7150....
Michael Becker
Technical analysis
2016-05-04
202
visited:
The price zone of 1.4475-1.4670 has been standing as a significant supply zone during the past few weeks. This week, the depicted downtrend line comes to meet the GBP/USD pair around the same price zone. That is why, a bearish rejection should be expected again around the upper limit (1.4670 level). The nearest destinations for the GBP/USD pair would be located at 1.4475, 1.4300, 1.4220 and finally 1.3845....
Michael Becker
Technical analysis
2016-05-04
205
visited:
In February, the depicted price levels around 1.1500-1.1550 acted as a significant supply zone during the previous bullish pullback. Hence, another bearish rejection should be expected around the current price levels. If not, further bullish movement towards 1.1700 should be expected. In the long-term prospect, the level of 0.9450 will remain a projected bearish target if a monthly candlestick comes to close below the depicted monthly demand level of 1.0570....
Viktor Bajer
Technical analysis
2016-05-04
186
visited:
CHF/JPY is likely to move lower after breaking below massive support. ...
Mourad El Keddani
Technical analysis
2016-05-04
227
visited:
The NZD/USD pair continues droping from the level of 0.6914 in the short term. It should be noted that the resistance is established at the level of 0.6914, which represents a daily pivot point on the H1 chart. The price is likely to form a double top in the same time frame. Accordingly, the NZD/USD pair is showing signs of strength following a breakout of the lowest level of 0.6880....
Petar Jacimovic
Technical analysis
2016-05-04
239
visited:
There is weakness around the price of 1.6690, according to the 15M time frame. Be careful when buying EUR/NZD at this stage and watch for potential selling opportunities. Take profit level is set at the price of 1.6630....
Mourad El Keddani
Technical analysis
2016-05-04
194
visited:
The USD/CHF pair broke resistance at the level of 0.9524, which acts as support now. Thus, the pair has already formed minor support at 0.9524.The strong support is seen at the level of 0.9443 because it represents the weekly support 1. Equally important, the RSI is still calling for an uptrend. Therefore, the market indicates a bullish opportunity at the level of 0.9524 on the H1 chart. ...
Petar Jacimovic
Technical analysis
2016-05-04
230
visited:
Strong weakness in the background caused the price to go downward. There is strong selling pressure on the market in a high volume. Watch for potential selling opportunities on the rallies. Take profit level is set at the price of $1,256.50....
Sebastian Seliga
Fundamental analysis
2016-05-04
129
visited:
All financial markets' participants will be closely watching the ADP non-farm employment figures that will be released today as this is a good proxy of the NFP data that is scheduled for release this Friday. Investors expect another advance in the indicator to the level of 205K jobs, that is 5,000 more than a month before. As we remember, the last NFP number was also better than expected and it looks like the markets want to continue this uptrend until the next significant down revision. In conclusion, if the ADP expectations hold up, the labor market will deliver encouraging news at the beginning of the second quarter. ...
Sebastian Seliga
Fundamental analysis
2016-05-04
131
visited:
The series of services PMI for the eurozone region was released today and it was the first set of this data-heavy day. The composite services PMI for the eurozone hasn't changed as it still is at the level of 53.0 points, just like a month ago. Nevertheless, in some countries PMI varied slightly. The biggest disappointment was French and German data, it was slightly below the expectations. On the other hand, the biggest improvement could be noticed among Italian and Spanish PMI figures that were better than the market expectations. In conclusion, both Manufacturing and Services PMI ( manufacturing data was published yesterday) did not really caused any panic on the markets as the data was overall quite decent and showed that the eurozone economy is slowly but steadily improving despite the internal and global headwinds....
Viktor Bajer
Technical analysis
2016-05-04
211
visited:
Bears are dominating on GBP/CHF and it should be moving lower to reach the next downside target....
Viktor Bajer
Technical analysis
2016-05-04
179
visited:
EUR/USD is trading at the support where an uptrend could be not over yet....
Sebastian Seliga
Wave analysis
2016-05-04
215
visited:
There is still one more sub-wave missing on the hourly time frame chart. According to the Elliott wave rules it should be the last wave to the downside - wave (c) blue. The intraday resistance at the level of 123.35 held the line, and the market reversed lower towards the weekly pivot at the level of 122.98. Currently, bears might want to break out below the dashed intraday trend line and test the recent low at the level of 121.66. Please notice that the market is still trading inside the pink bearish zone. ...
Sebastian Seliga
Wave analysis
2016-05-04
241
visited:
As it had been anticipated, yesterday the market made one more marginal wave down and then strongly rebounded to the upside in impulsive fashion. The impulsive wave almost reached the level of the previous wave XX and then reversed slightly. Nevertheless, the further advance is still possible and the intraday resistance at the level of 1.2758 might be violated soon. After that move, the internal corrective structure should be developed and this wave will be a choppy corrective wave heading to test the dashed trend line around the level of 1.2620 - 1.2630. ...
Azeez Mustapha
Technical analysis
2016-05-04
235
visited:
The USD/JPY pair traded higher on Tuesday, in the context of a downtrend. Unless the price goes above the supply level at 109.00 (which would require a serious rally), there cannot be an end to the current bearish bias. Right now, the rally that was seen yesterday would be an opportunity to sell short at a better price. ...
Harsh Japee
Technical analysis
2016-05-04
254
visited:
Silver is trading lower at $17.25 levels at this moment, after printing highs at $18.00 levels earlier. Please note that the metal is testing its immediate support trend line (pushed lower now)....
Alexandros Yfantis
Technical analysis
2016-05-04
332
visited:
The Dollar index made a strong reversal yesterday as I had warned the Dollar bears. There were several signs that the Dollar index was getting too oversold and that a bounce would come any time. This reversal coincided with price reaching an important long-term support level....
Ahsan Aslam
Technical analysis
2016-05-04
229
visited:
USD/JPY is expected to continue its rebound. Overnight, US stock indices closed lower, pressured by shares in energy, bank and materials sectors. Investors were concerned about contracting manufacturing activities in China as well as falling oil prices. The Dow Jones Industrial Average dropped 0.8% to 17750, the S&P 500 fell 0.9% to 2063, and the Nasdaq Composite was down 1.1% to 4763....
Harsh Japee
Technical analysis
2016-05-04
239
visited:
Gold is seen to be trading lower for the day at $1,280.00/81.00 levels, looking to rally one last time through $1,307.00/10.00 levels before reversing lower. The metal might be into its wave 4 corrective drop....
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