Wave Analysis by InstaForex

EUR/GBP approaching resistance, potential reversal!



Price is approaching resistance where we might see a corresponding drop in price to our first support level.
Entry : 0.8587
Why it's good : horizontal overlap resistance, 78.6% Fibonacci retracement Stop Loss : 0.8679
Why it's good : horizontal swing high resistance
Take Profit : 0.8587

Analysis are provided byInstaForex.

GBP/USD approaching support, potential bounce!



Price is approaching support where we are expecting a bounce above this level.
Entry : 1.2930
Why it's good : 78.6% Fibonacci retracement, 61.8% Fibonacci extension Stop Loss : 1.2861
Why it's good : horizontal swing low support
Take Profit : 1.3053 Why it's good : horizontal overlap resistance, 50% Fibonacci retracement

Analysis are provided byInstaForex.

USD/CHF reversed off resistance, potential for further drop



Price reversed from our first resistance where there is potential for further drop.
Entry : 1.0095 Why it's good : 23.6% Fibonacci retracement, 61.8% Fibonacci extension
Stop Loss : 1.0123
Why it's good : horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement
Take Profit : 1.0008
Why it's good : horizontal overlap support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension

Analysis are provided byInstaForex.

EUR/USD 3 Star Sell Signal | Fundamental + Technical Analysis

Fundamentals: Heightened transatlantic tensions drove the currency lower as EU is ready to retaliate against $23 billion of US goods with US auto tariffs deadline of 18 May approaching. Those duties would be based on the same national - security grounds invoked for controversial American levies on foreign steel and Aluminum. US tariffs on European cars and auto parts will mark a significant escalation of transatlantic tensions because the value of EU automotive exports to the America market is about 10 times greater than that of the bloc's steels and aluminum exports combined. Hence, if the auto tariffs are imposed, EU retaliatory duties would target a bigger amount of US exports to Europe. Elsewhere, Italian 2 year yield rose sharply while EUR plummeted on as Italy Deputy Prime Minister Matteo Salvini said the nation is ready to break EU fiscal rules if necessary to boost employment.

Technical analysis:



Price is starting to break an ascending support line and we expect it to drop further to 1.1180. It reacted perfectly from our resistance level yesterday and is on track to reaching its profit target.

Analysis are provided byInstaForex.

Technical analysis of GBP/USD for 17/05/2019:



Technical Market Overview:
There is no rest for the bears on the GBP/USD pair as the market keeps doing the lower lows in the downtrend despite the extremely oversold conditions. The price just recently hit the technical support at the level of 1.2788 after a series of down candles were made in order the break out of the channel. The momentum is still weak and negative, so the next target for bears is located at the level of 1.2772.
Weekly Pivot Points: WR3 - 1.3288
WR2 - 1.3229 WR1 - 1.3095
Weekly Pivot - 1.3031
WS1 - 1.2885
WS2 - 1.2821
WS3 - 1.2676

Trading Recommendations:
The market is moving below the trendline, so the best trading strategy for daytraders is to open the sell orders during the local pull-backs. All the targets for this week have been hit already, so. please pay attention to the price action signs of reversal and candlestick patterns at the range support and range resistance to confirm the level for the trading position.

Analysis are provided byInstaForex.

Control zones NZDUSD 05/20/19

The downward movement is a medium-term impulse, so selling is still a priority. It is not profitable to sell on Monday from current grades, since the target of the fall is the weekly CZ of 0.6470-0.6456. Any growth should be used as an opportunity to sell the pair. The first resistance will be WCZ 1/4 06545-0.6542.



The downward trend is so strong that it will be possible to look for opportunities for buying only if a daily absorption takes place and the US session closes above Friday's maximum. This model will be the starting point in the formation of a deep correctional model, the next goal of which will be WCZ 1/2 0.6584-0.6577. While the pair will be trading below the specified zone, the bearish trend will not turn.



Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

Analysis are provided byInstaForex.

Technical analysis of EUR/USD for 21.05.2019



Technical Market Overview:
After making the local low at the level of 1.1150, the EUR/USD pair has tried to bounce or even rally higher, but this attempt was capped at the technical resistance zone located between the levels of 1.1167 - 1.1173 and the price reversed. The short-term outlook remains bearish and there is no signs or any trend reversal for now. The next target for bears is seen at the level of 1.1111.

Weekly Pivot Points:
WR3 - 1.1317
WR2- 1.1287
WR1 - 1.1208
Weekly Pivot - 1.1178
WS1 - 1.1099
WS2 - 1.1069
WS3 - 1.0986

Trading Recommendations:
The best trading strategy in the current market conditions is to sell the local pull-backs with a tight protective stop loss. Due to the oversold market conditions please pay attention to the candlestick trend reversal patterns and market trend reversal patterns. The next important technical support is located at the level of 1.1111 and this is the next target for bears.

Analysis are provided byInstaForex.

Technical analysis of EUR/USD for 22.05.2019

Technical Market Overview:

The EUR/USD market is still hovering around the technical resistance zone located between the levels of 1.1167 - 1.1174 with no intention of breaking higher so far. There were some attempts to rally but were quickly capped by the bears. The short-term outlook remains bearish and there is no signs or any trend reversal for now. The next target for bears is seen at the level of 1.1135 and 1.1111.

Weekly Pivot Points:

WR3 - 1.1317
WR2- 1.1287
WR1 - 1.1208
Weekly Pivot - 1.1178
WS1 - 1.1099
WS2 - 1.1069
WS3 - 1.0986

Trading Recommendations:
The best trading strategy in the current market conditions is to sell the local pull-backs with a tight protective stop loss. Due to the oversold market conditions please pay attention to the candlestick trend reversal patterns and market trend reversal patterns. The next important technical support is located at the level of 1.1111 and this is the next target for bears.



*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

EUR/GBP approaching resistance, potential drop!



Price is approaching our first resistance level.
Entry : 0.8858 Why it's good : 61.8% Fibonacci retracement, channel's resistance
Stop Loss : 0.8956 Why it's good : horizontal overlap resistance, 78.6% Fibonacci retracement
Take Profit : 0.8773
Why it's good :23.6% Fibonacci retracement, horizontal overlap support

Analysis are provided byInstaForex.

EUR/USD approaching resistance, potential drop!



Price is approaching our first resistance level.
Entry : 1.1227
Why it's good : 76.4% Fibonacci retracement, descending resistance line, 61.8% Fibonacci extension
Stop Loss : 1.1266 Why it's good : horizontal swing high resistance
Take Profit : 1.1180
Why it's good : 38.2% Fibonacci retracement, horizontal overlap support

Analysis are provided byInstaForex.