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Forex analysis review

Materials presented in the "Forex analysis" section are provided by the international broker InstaForex. The section is regularly updated with the latest news, trends and forecasts provided by the professional analysts of InstaForex Company. Articles, market outlook and the current trend reviews are written with the help of fundamental, fractal, wave and technical analysis.
2017-02-20 | visited: 156

The Dollar index bounced off the cloud support as we expected in our last analysis. The Dollar index needs to break above 101.80 in order to confirm medium-term low at 99.25 and the start of a new uptrend targeting 105-110. ...

2017-02-20 | visited: 254

Gold remains in bullish trend. There is no indication that a deeper pull back is coming. Short-term support is held and the precious metal is ready for a push higher towards $1,280-$1,320. ...

2017-02-20 | visited: 146

The GBP/USD pair is moving in a bullish trend from the support levels of 1.2380, and 1.2287. Currently, the price is in a bullish channel around the spot of 1.2380 and 1.2473. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), immediate support is seen at 1.2380 and 1.2473, while the weekly strong support is found at 1.2287. ...

2017-02-20 | visited: 141

The EUR/USD pair continues to move downwards from the level of 1.0723. The pair dropped from the level of 1.0723 (this level of 1.0723 coincides with the ratio of 78.6% Fibonacci retracement) to the bottom around 1.0641. This week, the first resistance level is seen at 1.0723 followed by 1.0828 (the double top), while daily support 1 is found at 1.0583. ...

2017-02-20 | visited: 125

Bullish persistence above 0.7100 allowed further bullish advance toward 0.7250-0.7350 (Sell zone) where bearish price action was expressed as anticipated. Bearish persistence below 0.7250 is needed to allow further bearish decline toward 0.7100 (note the recent bearish DAILY candlesticks within the SELL zone). On the other hand, the current bullish pullback toward 0.7250 should be considered for SELLING the NZD/USD pair. ...

2017-02-20 | visited: 120

Recent bearish pullback toward 1.2970 (61.8% Fibonacci level) offered a valid BUY entry as expected in previous articles. This week, a bullish breakout above 1.3300 (50% Fibonacci Level) is needed to enhance bullish advance toward 1.3440 and 1.3550. Otherwise, the USD/CAD pair remains trapped within the current consolidation range (1.2970-1.3300). On the other hand, DAILY closure below 1.2970 (61.8% Fibonacci level) will confirm a double-top pattern with projected bearish targets at 1.2860, 1.2730 and 1.2600. ...

2017-02-20 | visited: 114

On January 16, a bullish engulfing candlestick was expressed around the demand level of 1.2000. That is why another bullish breakout above 1.2430 was initiated. The next bullish target is located around 1.2750 where bearish rejection should be expected. On the other hand, the next bearish destination would be located around 1.1200 when bearish momentum is resumed. ...

2017-02-20 | visited: 88

Bullish persistence above 1.0600 allowed further bullish advance toward 1.0825-1.0850 (Fibonacci Level 50%) where bearish rejection and a valid SELL entry were anticipated. At the moment, the price level of 1.0570 stands as a prominent demand level to be watched for a valid bullish entry (note the bullish Head & Shoulders Pattern with Initial target at 1.0800). Otherwise, further bearish decline can be executed towards 1.0400 if bearish breakdown below 1.0570 is achieved. ...

2017-02-20 | visited: 139

We are still looking for a break above resistance seen at 1.4866 that confirms that a long-term low finally is at 1.4495 and a new long-term rally in wave 3 is developing. Short-term, we expect that the minor support at 1.4690 will be able to protect the downside for a break above minor resistance seen at 1.4835 and more importantly above resistance at 1.4866 that calls for a rally to 1.5282 on the way higher to 1.5836 and above. Only an unexpected break below 1.4495 will invalidate our bullish outlook. ...

2017-02-20 | visited: 186

We continue to expect support at 119.30 that will be able to protect the downside for a break above minor resistance at 120.39 and more importantly a break above resistance at 121.33 that will confir, that red wave iii higher toward 123.67 is unfolding. The ideal target for wave v/ and 3 remains being seen at 126.54. Only an unexpected break below support at 119.30 will invalidate the immediately bullish count, but no invalidate the long-term count calling for more upside closer to 126.54 to complete wave 3. ...

2017-02-20 | visited: 206

When the European market opens, some Economic Data will be released, such as Consumer Confidence and German PPI m/m. ...

2017-02-20 | visited: 209

In Asia, Japan will release the Trade Balance and the US today will not release any Economic Data. ...

2017-02-19 | visited: 201

The index performed a rebound around the 100.44 level following another sellers' wave, but it seems that we could expect further bullish moves above the 200 SMA in the H1 chart, targeting the key resistance zone of 101.43 ...

2017-02-19 | visited: 246

The pair finished last week within a bearish tone as it managed to consolidate below the 200 SMA in the H1 chart after a sharp decline towards 1.2410. Currently, the GBP/USD pair is trying to extend such a fall to test the 1.2360 level ...

2017-02-17 | visited: 267

We prepare to turn bullish above major support at 0.9959 (Fibonacci retracement, horizontal overlap support) for a push up to 1.0030 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) is seeing strong support above the 23% level. ...