Category Archives: Forex analysis review

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Elliott wave analysis of EUR/NZD for December 28, 2016

Wave summary:There really is not much news to add here. We are still looking for a deeper correction in wave [ii] closer to 1.4964 before the next impulse rally higher towards 1.5836 should be expected. The ongoing correction from 1.5235 seems to take …

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Elliott wave analysis of EUR/JPY for December 28, 2016

Wave summary:The failure to break below support at 122.01 and the following break above resistance at 122.78 shifted the count in favor of the running triangle. This triangle consolidation is now complete and wave (v) higher toward 126.54 is now unfold…

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Technical analysis of USD/JPY for December 28, 2016

USD/JPY is expected to trade with bullish bias above 117.35. The pair is trading above its ascending 50-period moving average. Technically, the relative strength index is above its neutrality level at 50. Besides, a support base at 117.35 has formed an…

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Technical analysis of USD/CHF for December 28, 2016

USD/CHF is expected to trade with bearish bias. The pair is trading below its 20-period and 50-period moving averages. The relative strength index is bearish and below its neutrality level at 50. Nevertheless, 1.0295 is playing a key resisance role whi…

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Technical analysis of NZD/USD for December 28, 2016

NZD/USD is expected to trade with bullish bias above 0.6890. The pair stays above its horizontal support at 0.6890, and lacks downward momentum. Even though a continuation of the consolidation in current stage cannot be ruled out, its extent should be …

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Technical analysis of GBP/JPY for December 28, 2016

GBP/JPY is expected to continue its rebound. The pair is supported by its rising 50-period moving average and has crossed above its 20-period moving average. Meanwhile the relative strength index still stays above 50. As long as 144.10 is not broken, f…

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Daily analysis of major pairs for December 28, 2016

EUR/USD: Since
the middle of last week, this currency trading instrument has been moving
sideways. There is a clean Bearish Confirmation Pattern in the market, and
thus, the outlook on the trading instrument remains bearish. The current
sideways movement is only a pause in the journey downwards, for the downward
movement is expected to continue.

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USD/CHF: The USD/CHF merely
moved sideways on Tuesday – and the bias on the market remains bullish. The
price action and the indicators in the 4-hour chart reveal that when momentum
returns to the market, it would most probably favor the bulls. The targets for
the week remain at the resistance levels at 1.0300 and 1.0350.

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GBP/USD: The bias on the GBP/USD
remains bearish, though price has moved sideways so far this week. When
momentum returns to the market, it would most probably be in favor of bears.
The accumulation territories at 1.2250 and 1.2200 are the next target for this week.

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USD/JPY: Price on this pair has
moved only sideways this week – till now. The EMA 11 is above the EMA 56, and
the RSI period 14 is above the level 50. It is more likely that price would be
going upwards when a directional movement begins to happen (to emphasize the
current bullish outlook). The next immediate target is the supply level at
118.00.

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EUR/JPY: There
is a possibility of a bullish movement on the EUR/JPY cross. In spite of the
recent flat movement, the overall outlook on the market is bullish, which would
hold as long as price does not go below the demand zone at 120.50, which would
require a strong bearish pressure anyway.

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The material has been provided by InstaForex Company – www.instaforex.com

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Technical analysis of EUR/USD for Dec 28, 2016

When the European market opens, there is no Economic Data will be released for today, but the US will release the economic data, such as Pending Home Sales m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.TODAY…

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Technical analysis of USD/JPY for Dec 28, 2016

In Asia, Japan will release the Retail Sales y/y, Prelim Industrial Production m/m and the US will release some Economic Data, such as Pending Home Sales m/m. So, there is a probability the USD/JPY will move with low to medium volatility during this da…