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  Symbol Bid Ask
EURUSD 1.092 1.0923
GBPUSD 1.5582 1.5585
USDJPY 124.15 124.18
USDCHF 0.9748 0.9751
USDCAD 1.3166 1.3169
EURJPY 135.57 135.6
EURCHF 1.0646 1.0649
GBPJPY 193.45 193.52
GBPCHF 1.519 1.5197
GOLD 1086.98 1087.58

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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
2015-08-04
938
visited:
As suggested in our previous articles, a bullish pullback towards 1.5550-1.5600 was expected to take place shortly after. Our suggested sell entry around 1.5600 got triggered. It is still trading around entry levels. Early exit should be considered if the current daily candlestick maintains its closure above 1.5600. On the other hand, a better SELL entry with a lower risk/reward ratio will probably be offered around the price level of 1.5780 (the backside of the broken uptrend). Bearish breakdown of the price level of 1.5550 gives another SELL signal with a higher risk/reward ratio....
Ahsan Aslam
Technical analysis
2015-08-04
300
visited:
USD/JPY is expected to move 123.80 with a bullish bias above. Currently, the US Dollar Index maintains its upward momentum trading at 97.582. It keeps on to depress commodities currencies. US crude oil prices dropped 4.1% closing at $45.17/bbl, while gold was down 0.9% and silver fell 1.9%. ...
Ahsan Aslam
Technical analysis
2015-08-04
181
visited:
USD/CHF is expected to trade in a higher range. The pair extended its gains after confirming a bullish "V-bottom" reversal configuration. The intraday RSI is supported by a rising trendline, and the 20- and 50-period moving averages are turning up. Technical indicators favor further advance. As long as 0.9650 holds as the key support, look for an opportunity to bounce to 0.9740 and 0.97650....
Ahsan Aslam
Technical analysis
2015-08-04
123
visited:
NZD/USD is expected to trade in a higher range. The pair failed to break above its intraday resistance at 0.6620, and reversed down on an intraday basis. The intraday RSI is below its neutrality level of 50 with a negative bias. Moreover, a bearish cross between the 20- and 50-period intraday MAs has been identified, which should confirm a negative view. As long as 0.6550 is not surpassed, look for further upside to 0.6620 and 0.6660 in extension. ...
Ahsan Aslam
Technical analysis
2015-08-04
316
visited:
GBP/JPY is expected to trade with a bullish bias. The pair stays above its key support at 193. Both descending 20-period and 50-period intraday MAs act as resistance levels. And the intraday RSI is below 50 lacking upward momentum. The first upside target is set at the horizontal resistance and overlap at 194.60 (around the high of July 30). A break above this level would open the way to further strengthening towards 95.20. ...
Mohamed Samy
Technical analysis
2015-08-04
128
visited:
The long-term bullish projection target would be located at the level of 1.3080 if enough bullish support is maintained. Earlier, signs of lack of bullish momentum were manifested on the chart. A bearish corrective movement was initiated towards the levels of 1.2900-1.2850. However, a new bullish swing is taking place today, especially after Friday's bullish engulfing candlestick....
Michael Becker
Technical analysis
2015-08-04
196
visited:
Contradictory signals are coming from consecutive weekly candlesticks. This indicates lack of bearish momentum below 1.5500. The previous weekly candlestick closure above 1.5500 hindered the further bearish decline and enhanced the bullish side of the market pushing the price to at least 1.5770 (61.8% Fibonacci level). On the other hand, the nearest demand level around 1.5200 will become exposed if GBP/USD bears manage to close below the level of 1.5500 (low probability)....
Michael Becker
Technical analysis
2015-08-04
197
visited:
April's monthly candlestick came as a bullish engulfing one. However, the next monthly candlesticks (May, June, and July) reflect recent bearish rejection being expressed around 1.1450. In the long term, a projection target is still located at 0.9450 if a bearish breakdown of the monthly demand level at 1.0550 occurs soon. A bullish corrective movement towards 1.1500 will be possible only if May's monthly high of 1.1465 gets breached (a low probability)....
Mourad El Keddani
Technical analysis
2015-08-04
999
visited:
The price of 1.5566 coincides with the ratio of 38.2% Fibonacci retracement levels. The minor support has set at the level of 1.5566. Thus, we expect a short bullish market from the level of 1.5566 on the H1 chart. Therefore, the market is going to call for an uptrend from the level of 1.5666. Hence, buy above the level of 1.5566 in the short term with the first target of 1.5546, if the trend can break the minor resistance at the level of 1.5546, it might resume to 1.5712. The weekly range was not very large for the last four weeks (around 199 pips only). According to our statistics, it was found out that the range was between 310 pips and 200 pips and the average range was around 252 pips....
Mourad El Keddani
Technical analysis
2015-08-04
278
visited:
The price of the EUR/USD pair is still trading between the levels of 1.0892 and 1.1038 (golden ratio). The levels of 1.1001 and 1.0875 are representing the weekly pivot point and support 1, respectively. But, it will be very profitable to sell below the level of 1.1038 which represents the minor resistance on the H1 chart with the first target at 1.0892 in order to test the double bottom. Then, the trend will be able to continue toward the levels of 1.0875 (the weekly support 1 is set at the price of 1.0875). Besides, the monthly doubel bottom coincides with the price of 1.0860. Nevertheless, the stop loss should be set at 1.1060 (above the resistance)....
Petar Jacimovic
Technical analysis
2015-08-04
548
visited:
A volume spike (buying clima) is observed around the level of $1,095.00. Be careful when buying gold at this stage. Fibonacci retracement 61.8% at the level of $1,095.00 is on the test. Watch for potential selling opportunities....
Viktor Bajer
Technical analysis
2015-08-04
81
visited:
Consider selling EUR/JPY while it is trading between the current rate (136.11) and R1 (136.18) targeting 161.8% Fibonacci retracement applied to the last wave up before the trendline breakout (24.07 low and 27.07 high). A daily close above this level could be used as a signal to liquidate short positions....
Petar Jacimovic
Technical analysis
2015-08-04
658
visited:
Sideways market is around the price of 1.6620. Be careful when buying EUR/NZD since our resistance around the price of 1.6800 held successfully and we got large climatic action around that area. Watch for potential selling opportunities....
Alexandros Yfantis
Technical analysis
2015-08-04
818
visited:
The US dollar index is showing some signs of weakness as it has approached short-term resistance levels. The USDX is inside a big triangle pattern and as long as we see no breakout above the 98 level, bulls should be very cautious....
Alexandros Yfantis
Technical analysis
2015-08-04
363
visited:
The gold price is trading in a sideways pattern. The short-term trend is neutral as the gold price has formed a sideways triangle pattern confirming the recent consolidation and trading range it is in. Breaking above $1,105 can give a push towards $1,115-$1,130; and a break below $1,077 will bring in more sellers towards $1,050-40....
Sebastian Seliga
Fundamental analysis
2015-08-04
154
visited:
The poor Chinese PMI data from Monday (47.8 vs. 48.3, 48.2 prior) was the main cause of the continuing crude oil sell-off. The difficult situation of the Chinese manufacturing and the government inability to overcome the recent stock market crash have created an uncertainty wave in the country. The commodity-related currencies are slipping as well, along with the commodities like copper (six-year low), crude oil, brent oil (4$ above 2015 lows), silver, and gold. ...
Sebastian Seliga
Fundamental analysis
2015-08-04
133
visited:
The Rereve Bank of Australia has decided overnight to leave the main interest rate unchanged at the level of 2%. The market was not surprised as the forecast of 2% was exactly in line with the data release. The more interesting clues for a further RBA monetary policy comes from the central bank Governor Glenn Stevens' statement issued with the report. In this statement he wrote that the exchange rate is adjusting to the significant declines in key commodity prices indicating that the current exchange is not too high at all and it might decrease even further. ...
Sebastian Seliga
Wave analysis
2015-08-04
185
visited:
The market behave as anticipated going to test the intraday support at the level of 135.53. Currently, the level of 135.90 is being tested from the downside and the black-dashed channel trendline is the most important dynamic resistance today. The downward wave progression does not looks completed and the projected target is still at the wave Y brown at the level of 135.15. ...
Azeez Mustapha
Technical analysis
2015-08-04
114
visited:
The USD/JPY pair moved sideways so far between the supply level of 124.50 and demand level of 123.00. This shows that the market is currently consolidating, and therefore, there would be a breakout to the upside or to the downside soon. In order to put an end to the current consolidation, there must be a breakout above the supply level at 124.50 or a breakout below the demand level at 123.00. ...
Sebastian Seliga
Wave analysis
2015-08-04
139
visited:
The upward wave progression did not hit the projected target level yet, but the move is still possible. The intraday support at the level of 1.3110 is the key level to the upside, because any breakout lower would expose the weekly pivot at the level of 1.3031 to test. ...
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