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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.
2017-04-28 | visited: 57

We continue to look for small corrections only as the rally in wave iii moves closer to our first extension target at 1.6656. Short term, we are looking for support at 1.5671 to protect the downside for a continuation higher to 1.6000 and likely even closer to 1.6318 before wave [iii] of iii is complete. Should support at 1.5671 be broken that will likely indicate that peak at 1.5908 was a new wave of a lesser degree and a wave ii is building. This will be a very bullish outcome in the longer term. ...

2017-04-28 | visited: 99

The expected corrective decline from 121.98 is unfolding nicely. The ideal target for this correction is seen near 119.85 for the next rally higher towards at least 122.57 and possibly higher towards 123.42 to complete wave A. This scenario remains our preferred outlook. That said, we have to take into consideration that wave A already completed at 121.98 and in this case, we should expect a more prolonged wave B correction before wave C towards 138.52 will be ready to take over. ...

2017-04-27 | visited: 180

EUR/NZD did not clear the base channel resistance as expected, which has led to a sideways consolidation, but it should only be a matter of time before this consolidation drives prices higher towards 1.6000 and above towards the ideal wave iii target seen at 1.6656. Short-term look for consolidation within the 1.5670 - 1.5845 area before the next impulsive rally higher. ...

2017-04-27 | visited: 123

We have seen a peak 121.98, but the question is, whether this peak of completed wave iii for more upside closer to 123.42 to complete wave A or have wave A already completed with the high seen at 121.98? At this point, it really does not matter, as both scenarios call for a corrective decline towards 119.85 before the next rally higher should be expected. We do favor the scenario that sees the peak at 121.98 as wave iii and the current corrective decline as wave iv to be followed higher by wave v, but for now look for a corrective decline to 119.85 and the higher. ...

2017-04-26 | visited: 224

We prepare to sell USD/CAD upon the break of the key support level at 1.3528 (Fibonacci retracement, horizontal overlap support, Elliott Wave theory). If the price breaks this level, we will place our stop loss at 1.3592 with profit target at 1.3423 support (Fibonacci retracement, horizontal swing low support, Elliott wave theory). The Stochastic (55,5,3) is seeing the major resistance at 94%. The stochastic's turndown signals a bearish move is starting. ...

2017-04-26 | visited: 170

We prepare to sell on the break of the 1.0859 support (Fibonacci retracement, Elliott wave theory). Upon the break of that level, we will have our stop loss at 1.0913 (Fibonacci retracement) and our profit target at 1.0731 (Fibonacci retracement, price gap, Elliott wave theory). Stochastic (55,5,3) is seeing resistance at 98% and also sees bearish divergence vs the price signalling that a reversal is impending. ...

2017-04-26 | visited: 146

The base-channel resistance line near 1.5765 is now behind us and wave iii should continue to accelerate higher towards the 166.56 target. Upon a break above 1.5834, the next minor resistance on the way higher will be seen at 1.6115. As we are in wave iii of 3, we should be aware that corrections can be small and even sub-normal, so stay with the trend higher. ...

2017-04-26 | visited: 185

EUR/JPY is already testing the extension target at 121.92 and the rally from 116.42 does not show signs of exhaustion yet. So as long as minor support seen at 121.22 is able to protect the downside, we should look for the possibility of even more upside towards 122.41 and maybe even closer to 123.32 before wave iii peaks. Longer term, a rally to above 124.09 remains expected here. ...

2017-04-25 | visited: 156

EUR/NZD is now accelerating higher, which is exactly what we would expect from wave iii. We are likely to see the base-channel resistance-line near 1.5765 be broken too as that will add confidence in wave iii developing and call for even more upside acceleration higher towards the first extension target for wave iii target at 1.6656. Support is now seen at 1.5500 and again at 1.5357. ...

2017-04-25 | visited: 194

We continue to look for more upside towards 120.62 and possibly even higher towards 121.92 to complete wave iii/. Wave iii/ should be followed by a shallow flat correction in wave iv/ and ideally hold above 118.88 for the next impulsive rally higher. Longer term, we expect a rally to above 122.88 and 124.09 during this run higher. ...

2017-04-24 | visited: 168

After the expected minor correction to 1.5171 (the low came in at 1.5168), a strong rally above important resistance at 1.5347 has finally been seen to confirm that wave iii higher towards 1.6656 finally is developing. The former important resistance at 1.5347 will now work as support for the next rally higher to 1.5764 on the way higher to 1.6656. ...

2017-04-24 | visited: 213

We saw the expected decline to the 61.8% corrective target at 116.52 (the low was seen at 116.42) from where a new very strong rally was seen. The rally from 116.42 does not resemble a fifth wave rally but is more in accordance with a third wave rally, so we have changed our count to fit this view calling for more upside closer to 120.62 and possibly even higher towards 121.92 before wave iii/ peaks. Support is now seen at 118.73, which is expected to hold for the expected push higher towards at least 120.62. ...