Instaforex Analysis

**IFX Gertrude** · 11-27-2013, 07:57 AM

USD/CHF technical analysis for November 27, 2013

Overview:
It should be noted that the price of the USD/CHF pair has still been trapped between 0.9030 and 0.9085. The price has been set below strong resistance at the levels of 0.9195 (0.9230: 50% of Fibonacci retracement levels in H4 chart). Additionally, it is worth noting that these levels coincide between 61.8% and 78.6% of Fibonacci retracement levels in H4 chart; thereupon, the pair has already formed strong resistance at this level of 0.9200, and it is now approaching it in order to test it. Therefore, the possibility that the Swissy will have a downside momentum is rather convincing and the structure of the fall does not look corrective. In order to indicate a bearish opportunity below 0.9200, in consequence it will be a good sign to sell below 0.9195 with the first target of 0.9083. It is equally important that it will call for downtrend in order to continue bearish trend towards 0.9025.
On the other hand, it is also worthy of note that the price at 0.9020 - 0.9027 will possibly form a strong support (38.2% of Fibonacci retracement levels in H4 chart). Accordingly, saturation around 1.9020 to rebound the pair is likely to occur. Furthermore, it is possible that the market is going to start showing the signs of the bullish market. Hence, it will be a good sign to buy above 0.9020 with the first target of 0.9080 and continue towards 0.9173.

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**IFX Gertrude** · 11-28-2013, 07:10 AM

USD/JPY Intraday Technical Levels for November 28, 2013

We predict today the USD/JPY will move from slow to moderate because a few news will be released, during the Asian sesion there is only one news release from Japan: Retail Sales y/y, and the US market is closed for the Thanksgiving holiday.

TODAY's TECHNICAL LEVEL:
Resistance. 3 : 102.58.
Resistance. 2 : 102.38.
Resistance. 1 : 102.18.
Support. 1 : 101.93.
Support. 2 : 101.73.
Support. 3 : 101.53.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.53) and resistance 3 (102.58). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it is a sign that these currencies have found trends today.

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**IFX Gertrude** · 11-29-2013, 07:39 AM

USD/JPY Intraday Technical Levels for November 29, 2013

The USD/JPY seems to move in slow to moderate volatility during the Asian session but will move in a slow condition in the US market as long as there is no intervention from the "big player" during the quite US market session because many of the market participant from the US and Canada take their long holiday weekend because of the Thanksgiving Day's celebration. At the Asian market session from Japan will release some news like Manufacturing PMI, Household Spending y/y, Tokyo Core CPI y/y, National Core CPI y/y, Unemployment Rate, Prelim Industrial Production m/m, and Housing Starts y/y.

TODAY's TECHNICAL LEVEL :
Resistance. 3 : 103.05.
Resistance. 2 : 102.85.
Resistance. 1 : 102.65.
Support. 1 : 102.40.
Support. 2 : 102.20.
Support. 3 : 102.00.

DESCRIPTION :
Please, pay attention to the levels of support 3 (102.00) and resistance 3 (103.05). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**IFX Gertrude** · 12-02-2013, 07:50 AM

USD/JPY Intraday Technical Levels for December 02, 2013

From the Asian session today, there is only one data release: Capital Spending q/y, and BOJ Gov Kuroda Speaks and for the US market session open there will be a several data released: US Fed Chairman Bernanke Speaks, Final Manufacturing PMI, Construction Spending m/m, ISM Manufacturing PMI. There is probability the USD/JPY will move in a slow volatility but in a moderate way during the US market session.

TODAY's TECHNICAL LEVEL:
Resistance. 3 : 102.85.
Resistance. 2 : 102.65.
Resistance. 1 : 102.45.
Support. 1 : 102.20.
Support. 2 : 102.00.
Support. 3 : 101.80.

DESCRIPTION :
Please, pay attention to the levels of support 3 (101.80) and resistance 3 (102.85). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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**IFX Gertrude** · 12-04-2013, 08:45 AM

USD/JPY: near strong resistance

The pair rallied towards north from 97 to 103.40. The Bank of Japan helped to push yen 6 month's low. Better than expected US economic data increased expectations of a near term tampering of the Fed's purchasing program.
The Japanese PM proceed with his April sales tax raise form 5% to 8% and a $51 billion stimulus plan. The BoJ would continue buying enough assets to pump up the monetary base at a rate of about $596-695 billion.
The Japanese stock market Nikkei push to a 6 month high going north very strongly, we expect Nikkei would climb 17k, 17,500 levels. Japan is going to invest $2tn of pension funds in stocks and other riskier assets. Japan's central bank maintained its target for asset purchases, as widely expected. We expect some liquidity landed in India and America probably next year. This is the time Western Gold Community will focus on Japan's liquidity to buy gold which is currently trading at uneconomic levels.
The pair halted at a major resistance level May's high 103.73. On the down side strong support exists at 101.5
Our long term target is 125.
Recommendation-
Buy above 102.7 the pair will jump to 103 103.5 103.7. Downside support at 102.2 102 101.5

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**IFX Gertrude** · 12-05-2013, 07:38 AM

Elliott Wave analysis of EUR/NZD for December 5, 2013

Today's support and resistance levels:
R3: 1.6681
R2: 1.6627
R1: 1.6592
Current spot: 1.6578
S1: 1.6535
S2: 1.6517
S3: 1.6443

Technical summary:
We have seen a clear impulsive five wave rally from the 1.6443 low to 1.6635 (a little below the ideal target of 1.6658). The correction from 1.6635 could be over with the test of 1.6527, but to confirm that, we need for minor support at 1.6535 to protect the downside for a break above 1.6591 and more importantly a break above 1.6635. As this is a minor green wave ii, which is currently developing, it can continue all the down to 1.6443, but that scenario is less likely.

Trading recommendation:
Stay long EUR and keep your stop at 1.6440. If you are not long EUR yet, then buy a break above 1.6591 with the same stop at 1.6440.

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**IFX Gertrude** · 12-06-2013, 07:57 AM

GBP/CHF breaks trendline support. Book profits and sell rallies again around 1.4775/1.48

Technical outlook and chart setups:
The same 4H chart view has been presented here for continuation in setups. As discussed yesterday and expected, the pair has broken the trend line support and prices around 1.4640/30 levels. It is recommended to book profits on short positions taken earlier and prepare to sell rallies again. Immediate support from here is 1.4550, followed by 1.4500 and 1.44; while resistance is between 1.4775/1.4800 ( this region is also the back side of the support line which is now resistance and the 0.618 fibonacci resistance), followed by 1.4875 and 1.4920 respectively. Looking to sell rallies again at the confluence of trendline, fibonacci and trade signal appearance.

Trading recommendations:
Book profits on short positions taken earlier, sell again on rallies.

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**IFX Gertrude** · 12-09-2013, 09:04 AM

Elliott wave analysis of EUR/NZD for December 9, 2013

Today's Support and Resistance levels:
R3: 1.6688
R2: 1.6601
R1: 1.6556
Current Spot: 1.6521
S1: 1.6470
S2: 1.6454
S3: 1.6443

Technical summary:
We did not expect an expanding flat correction to develop, but as long as important support at 1.6443 stays untouched, we will be looking for a break above 1.6556 and more importantly a break above 1.6750 confirming a new powerful rally higher. However, a break below 1.6443 will be a game changer and call for a new decline towards 1.5900 and likely even below. In the short term we would like to see support in the 1.6500-1.6510 zone protecting the downside for a rally above 1.6556 indicating that we have seen the expanding flat correction end at 1.6470.

Trading recommendation:
To our suprise, our stop at 1.6520 was hit, but we will re-buy EUR here at 1.6521 with a stop + reverse at 1.6440.

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**IFX Gertrude** · 12-10-2013, 07:47 AM

Elliott wave analysis of EUR/NZD for December 10, 2013

Today's Support and Resistance levels:
R3: 1.6750
R2: 1.6688
R1: 1.6615
Current Spot: 1.6586
S1: 1.6550
S2: 1.6508
S2: 1.6470

Technical summary:
We have seen the expected rally above minor resistance at 1.6556 indicating that green wave ii ended at 1.6470 and that green wave iii is developing. In the short term we would like to see support at 1.6550 protecting the downside for a break above 1.6615 and more importantly a break above 1.6750, which will confirm that green wave iii is indeed developing for a rally towards at least 1.7239 and likely even higher. Only a break below 1.6470 will be of concern and could add considerable downside pressure.

Trading recommendation:
Stay long from 1.6520 with a stop at 1.6465. If you are not long in EUR yet, then buy after a break above 1.6615 with the same stop at 1.6465.

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**IFX Gertrude** · 12-11-2013, 07:28 AM

Gold: bulls prevail

After a good rally, gold halted near the resistance zone. Yesterday, the market was prevailed by bulls. We penned a positive divergence in charts, hence it came true. Thanks to all the bull bidders and to the indicators. For today's trading session gold levels are following:
NEAR TERM - 1 278 strong resistance.
INTRA VIEW - Above 1,268 only upward moves.
Resistance 1,268, 1,278, 1,290, 1,295.
Support 1,255, 1,247, 1,240, 1,237.
A close above 1,295 brings more bullish sentiment. In case of a close below 1,237, bears take control. Important levels are 1,215, 1,210, CMP 1,257.

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