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  Symbol Bid Ask
EURUSD 1.1066 1.1069
GBPUSD 1.5254 1.5257
USDJPY 119.82 119.85
USDCHF 0.9649 0.9652
USDCAD 1.2435 1.2438
EURJPY 132.61 132.64
EURCHF 1.0678 1.0683
GBPJPY 182.77 182.84
GBPCHF 1.4719 1.4726
GOLD 1204.1 1204.7

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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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Hossam Soliman Ali
Technical analysis
2015-03-04
1449
visited:
As shown on the today's H4 chart, the metal is stabilizing above the support level of 16.00 with the upward trend line after its failure to break the support area last week. ...
Ahsan Aslam
Technical analysis
2015-03-04
308
visited:
USD/JPY is expected to consolidate with risks skewed lower after hitting almost a three-week high of 120.27 on Tuesday. USD/JPY is undermined by the comments from Etsuro Honda, economic adviser to Prime Minister Abe, that Japan's central bank should hold fire on extra easing measures for some time to ensure the economy doesn't "overheat," and that the present dollar-yen levels may be at a "kind of upper limit in the exchange rate's comfort zone." USD/JPY is also weighed by the Japanese exports, unwinding of the JPY-funded carry trades amid decreased risk appetite (VIX fear gauge rose 6.29% to 13.86, S&P 500 closed 0.45% lower at 2,107.78 overnight)....
Ahsan Aslam
Technical analysis
2015-03-04
282
visited:
USD/CHF is expected to consolidate with bullish bias after hitting a six-week high of 0.9625 on Tuesday. It is underpinned by the negative Swiss interest rates and the threat of the Swiss National Bank to carry out CHF-selling intervention. The Swissie sentiment is boosted by the stronger-than-expected on-year expansion of 1.9% in Switzerland's GDP in 4Q (versus forecast +1.8%)....
Ahsan Aslam
Technical analysis
2015-03-04
220
visited:
NZD/USD is expected to trade with risks skewed higher. It is supported by positive sentiment for commodity-linked currencies as oil prices advanced on Tuesday and by the NZD-USD interest differential. The kiwi sentiment is dented by the anemic increase of 1.1% in Fonterra's GDT Price Index and the fall of 1.0% in average price for whole milk powder to $3,241/MT at the latest Global Dairy Trade auction. The gains of NZD/USD are also tempered by kiwi sales on the buoyant AUD/NZD cross and subdued investor risk appetite....
Ahsan Aslam
Technical analysis
2015-03-04
465
visited:
GBP/JPY is expected to trade in a lower range. It is undermined by the soft EUR/USD undertone, diminished investor risk appetite and Japan's exports. But the EUR/JPY losses are tempered by demand from the Japanese importers. ...
Mohamed Samy
Technical analysis
2015-03-04
698
visited:
On February 5, initial bullish breakout above 1.5220 took place. Shortly after, new DAILY support was established around 1.5170-1.5200 (ascending bottoms, a sign of ongoing bullish momentum). Since then, the GBP/USD pair has been trending upwards. Persistence of the pair above the recent DAILY support (the price zone of 1.5170-1.5200) put extensive bullish pressure on the price level of 1.5300-1.5360 (significant Fibonacci levels on the H4 chart), which did not provide enough RESISTANCE. Now these price levels are acting as temporary SUPPORT. The long-term projection target for the recent bullish breakout was already reached around 1.5550 where the previous DAILY bottoms were located (DAILY RESISTANCE)....
Mohamed Samy
Technical analysis
2015-03-04
356
visited:
Note that the USD/CAD bulls have been defending the recent INTRADAY SUPPORT around 1.2300 (broken 79.6% Fibonacci Level). The market has not retested the newly-established DAILY SUPPORT around 1.2000 yet. Note that successive lower highs are being established within the wedge-pattern depicted on the DAILY chart. DAILY closure below the price level of 1.2300 exposes the next DAILY SUPPORT around 1.2000 where the backside of the upper limit of the breached channel is located....
Michael Becker
Technical analysis
2015-03-04
602
visited:
A bearish flag pattern was established on the daily chart. DAILY fixation below the price level of 1.1260 (recent bottom) confirmed that bearish pattern. Risky traders could wait for a bullish pullback towards the price level of 1.1260 (recent SUPPLY level) to SHORT the EUR/USD pair at retesting. Price action should be watched carefully around 1.1110 (weekly low) in order to determine the next destination of the pair. In case of bearish breakdown of 1.1100, estimated long-term projection targets for the flag pattern would be located around 1.0800 and 1.0500....
Michael Becker
Technical analysis
2015-03-04
227
visited:
Estimated projection targets for the recent bullish breakout are roughly located around 1.5600-1.5640, which have not been tested yet. Moreover, a recent Head and Shoulders pattern is being established as depicted on the chart. On the other hand, the price action should be seen around the price zone of 1.5350-1.5300 ( Intraday DEMAND level ) to determine the next destination of the GBP/USD pair. Bearish breakdown of 1.5300 should not be excluded, especially after the obvious bearish engulfing candlestick that occurred on Monday. If so, a quick bearish decline towards 1.5200 would be expected....
Petar Jacimovic
Technical analysis
2015-03-04
265
visited:
There is a fresh low at the price of 1.4644. Be careful when selling EUR/NZD at this stage since we have selling climax according to the 4H time frame. I have placed Fibonacci expansion to find support levels and have got Fibonacci expansion 161.8% at the price of 1.4500....
Petar Jacimovic
Technical analysis
2015-03-04
470
visited:
Sideways market is around the price of $1,205.00. Our Fibonacci retracement 61,8% at the price of $1,202.00 is on the test. Be careful when selling gold at this stage since we may expect a reaction from buyers. My advice is to watch for potential buying opportunities....
Felipe Erazo
Technical analysis
2015-03-04
614
visited:
The USDX is currently performing a bullish breakout at the resistance level of 95.45 on the daily chart. The instrument could be looking to the upside target at the level of 96.96. The current move is taking place after the higher high pattern formation below the resistance zone mentioned....
Felipe Erazo
Technical analysis
2015-03-04
532
visited:
On the daily chart we can see that the nearest target in the downside road is still located at the support level of 1.5247, because the GBP/USD pair continues to be bearish. The strong rejection by the resistance level of 1.5491 is a clear indication of weakness....
Alexandros Yfantis
Technical analysis
2015-03-04
1299
visited:
On the daily chart we can see that the nearest target in the downside road is still located at the support level of 1.5247, because the GBP/USD pair continues to be bearish. The strong rejection by the resistance level of 1.5491 is a clear indication of weakness....
Alexandros Yfantis
Technical analysis
2015-03-04
379
visited:
The Gold price continues to trade above the support at $1,200. However, there is no clear sign of strength that could push the price above $1,225. A short-term trend is neutral. As long as the price is above $1,190-$1,200, bulls have hope for a bigger bounce towards $1,250....
Mourad El Keddani
Technical analysis
2015-03-04
939
visited:
The market of the GBP/USD pair showed the signs of instability. The trend movement was debatable as it took place in the narrow sideways channel. Due to the previous events, the price is still between the levels of 1.5328 and 1.5440, so it is recommended to be careful while making deals in this area. Therefore, it is necessary to wait until the sideways channel is passed through. Then the market will probably show the signs of a bullish trend. In other words, buy deals are recommended above 1.5330 with their first target at the level of 1.5390. From this point, the pair is likely to begin an ascending movement to the point of 1.5412 and further to the level of 1.5440....
Mourad El Keddani
Technical analysis
2015-03-04
492
visited:
The double bottom of EUR/USD will set at the level of 1.1154 and supports are going to be set at the 1.1150/1.1160 levels. It should be noted that the last range was very small, around 55 pips only. Today, we expect the range of 80-110 pips. Moreover, the price has not hit support 1 nor a weekly pivot point this week. So, according to past events, the market will move between the levels of 1.1150 and 1.1255; because the major support is likely to set at 1.1150; and the resistance had already been set at the level of 1.1255 (the weekly pivot point). Also, it should be noted that the price of 1.1255 represents the double top in the H1 chart...
Azeez Mustapha
Technical analysis
2015-03-04
323
visited:
The USD/CHF pair continues to go upwards in a determined manner. The bullish movement is slow and gradual, as the price forms a series of lower highs and higher highs in the chart. The price is now above the support level at 0.9600, and it may get to the resistance levels at 0.9650 and 0.9700. ...
Sebastian Seliga
Wave analysis
2015-03-04
854
visited:
The current wave progression does not really confirm the impassive wave development to the upside and the outlook for the intraday wave count is more and more in favor of more complex and time consuming corrective cycle in wave X brown. However, this point of view has not been yet confirmed by the market and an impassive breakout below the intraday support at the level of 133.43 is needed to draw that kind of conclusion. In that case, the next support is seen at the level of 132.77. ...
Sebastian Seliga
Wave analysis
2015-03-04
330
visited:
The alternative wave count had been invalidated after the level of 1.2474 violation and now the main count is the one to keep an eye on. The corrective cycle labeled as wave abc green had been completed. The first impulsive wave to the upside had been made and the market is in the corrective cycle now. The most important level is the intraday support at 1.2430 as any breakout lower would invalidate the current intraday impulsive count and make the corrective cycle more complex and time consuming. Please notice the bias is still bullish and break out higher is expected soon. ...
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