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  Symbol Bid Ask
EURUSD 1.0806 1.0809
GBPUSD 1.4962 1.4965
USDJPY 118.89 118.92
USDCHF 0.9523 0.9526
USDCAD 1.2244 1.2247
EURJPY 128.47 128.5
EURCHF 1.0287 1.0292
GBPJPY 177.9 177.97
GBPCHF 1.4246 1.4253
GOLD 1203.98 1204.58

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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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Michael Becker
Technical analysis
2015-04-17
3729
visited:
As we had anticipated, after such a long bearish rally (which started off 1.1300) bullish rejection was expressed at 1.0570 (monthly demand level). Shortly after, the EUR/USD pair failed to keep pushing above the depicted uptrend line. Hence, a double-top reversal pattern was executed around 1.1030. The daily fixation below the level of 1.0750 (neck-line) confirmed the reversal pattern, thus extending the projection target for the EUR/USD pair towards the level of 1.0330. ...
Felipe Erazo
Technical analysis
2015-04-17
280
visited:
The bears are trying to make the USDX to test the support level at 96.30 in the short and medium terms. For now, it's not advisable to add long positions at this stage because the Index remains very strong in the current corrective move....
Felipe Erazo
Technical analysis
2015-04-17
285
visited:
The corrective move remains very strong, at least in the daily chart, because GBP/USD is heading towards the resistance zone of 1.5125, which is likely to be tested in the next week. ...
Mohamed Samy
Technical analysis
2015-04-17
244
visited:
A bearish breakdown of 1.4700 enabled the pair to resume its bearish trend towards 1.4550 where a lower daily bottom was achieved (below 1.4700 which is the most recent bottom). This week, evident bullish recovery originated around these levels pushed the GBP/USD pair above 1.4700 again looking for better prices to sell the pair off. Currently, the bullish pullback towards 1.4950-1.5000 has already taken place (significant resistance zone). It is likely to offer a low-risk short entry with S/L as a daily closure above 1.5025. ...
Mohamed Samy
Technical analysis
2015-04-17
314
visited:
Successive lower highs were established within the depicted consolidation zone enhancing the bearish side of the market. Support levels around 1.2350 and 1.2300 (79.6% Fibonacci level) were finally broken on Wednesday after providing significant support for several weeks on the daily and weekly charts. A daily closure below 1.2300 clears the way for the USD/CAD pair towards the zone between 1.2050-1.2000 (where the projection target of the recent range breakout is located). ...
Sebastian Seliga
Wave analysis
2015-04-17
320
visited:
Downward wave progression in corrective wave (a) blue of wave 4 green had moved even little lower than anticipated. This is why the count changed. There is still a possibility of an upside rebound right to the level of 1.2384 and a bullish divergence seems to be supporting this scenario. Nevertheless, the market hasn't finished with the down side and wave (b) blue is completed, wave (c) blue is expected to move downwards after wave (b) blue is completed....
Ahsan Aslam
Technical analysis
2015-04-17
935
visited:
USD/JPY is expected to trade with bearish bias. It is undermined by the negative dollar sentiment (ICE spot dollar index last 97.65 versus 98.39 early Thursday) after a weaker-than-expected increase of 2.0% in the U.S. March housing starts, a larger-than-expected drop of 5.7% in the U.S. March building permits, and more-than-expected U.S. jobless claims of 294,000 for the week ended April 11. The pair is also weakened by the comments of Fed's Lockhart saying that unexpected economic weakness over the start of the year means it will likely take longer to gain enough confidence in the outlook to raise short-term interest rates; and Fed's Rosengren saying that the dollar's strength was hurting U.S. growth, which could lead to a delay in raising rates....
Ahsan Aslam
Technical analysis
2015-04-17
301
visited:
USD/CHF is expected to trade in a lower range. It is undermined by the negative dollar sentiment and franc demand on the soft EUR/CHF cross and buoyant CHF/JPY cross. But USD/CHF losses are tempered by the negative Swiss interest rates, the threat of the Swiss National Bank to carry out CHF-selling intervention and positions adjustment ahead of the weekend. ...
Petar Jacimovic
Technical analysis
2015-04-17
245
visited:
We can observe weak supply, according to the daily time frame. Be careful when selling EUR/NZD around the price of 1.4030 (Fibonacci expansion 100%). If the price breaks the level of 1.4020 in a high volume, we may see possible testing of the level of 1.3715. Otherwise, we may see a bullish correction....
Petar Jacimovic
Technical analysis
2015-04-17
286
visited:
Sideways market is around the price of $1,204.00. According to the daily chart, we can observe supply in a volume above the average, but the price action is weak (weak supply). Be careful when selling at this stage. Buying positions are preferable above the level of $1,220.00....
Ahsan Aslam
Technical analysis
2015-04-17
222
visited:
NZD/USD is expected to consolidate with bullish bias after hitting near-three-month high 0.7697 on Thursday.It is underpinned by the negative dollar sentiment, Kiwi demand on buoyant NZD/JPY cross and NZD-USD interest differential. But NZD/USD gains are tempered by the soft dairy prices and Kiwi sales on buoyant AUD/NZD cross and positions adjustment ahead of the weekend. ...
Sebastian Seliga
Wave analysis
2015-04-17
273
visited:
After testing the channel line from the downside the market rebounded strongly to the upside. Currently, the up move has not been completed yet. The potential targets for the wave c purple are at the levels of 1.28.77 and 129.47. Only a strong breakout below the demand zone would invalidate the bullish scenario. ...
Ahsan Aslam
Technical analysis
2015-04-17
176
visited:
GBP/JPY is expected to consolidate with bullish bias. It is underpinned by the firmer GBP/USD undertone and demand from the Japan importers. But GBP/JPY gains are tempered by the Japanese exporter sales, concerns about possible Greek default and positions adjustment ahead of the weekend....
Harsh Japee
Technical analysis
2015-04-17
1701
visited:
Technical analysis and trading recommendations for Silver for April 17, 2015. Silver remains unchanged as long as direction is considered. The metal is trading at $16.30 now....
Harsh Japee
Technical analysis
2015-04-17
319
visited:
Technical analysis and trading recommendations for Gold for April 17, 2015. Gold is trading at $1,200.00 now and is looking to be pushed higher again....
Azeez Mustapha
Technical analysis
2015-04-17
290
visited:
The cable has been unrelenting in its effort to go north, especially this week. From the accumulation territory around 1.4600, the price went upwards by 300 pips, it is battering the distribution territory at 1.4950 now. The distribution territory is being breached while I am writing this article; and once it gets completely breached, the next targets for bulls would be the distribution territories around 1.5000 and 1.5050. ...
Joseph Wind
Technical analysis
2015-04-17
383
visited:
USDX - the 50Dsma lies at 96.80 and 20Dsma is seen at 97.95. BULLS FATE - intraday is found at 118.70 positional 118.00....
Torben Melsted
Wave analysis
2015-04-17
288
visited:
We have seen a new low at 1.3979 and wave five decline can be counted from 1.4547. So, we are getting closer to the bottom. However, as long as minor resistance at 1.4105 is protecting the upside, we will be looking for a move lower towards 1.3867 and maybe even lower to 1.3687 before the final low is in place. A break above 1.4105 is likely to be the first indication that a bottom could be in place....
Torben Melsted
Wave analysis
2015-04-17
234
visited:
We are still certain that a firm bottom has been found at 126.02. The big question right now is which path the first minor wave has taken. Have we seen a series of waves one and two or has a leading diagonal developed? If prices are accelerating higher from here, a series of waves one and two is the correct answer, while a correction to 126.73 or slightly below will favor the leading diagonal. For now, we will wait for patiently and let the market show its real hand. ...
Joseph Wind
Technical analysis
2015-04-17
348
visited:
Selling pressure might be applied below $1,196.00. In case the price breaks below $1,188.00, bears can challenge $1,183.70 and $1,180.00....
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