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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.

2015-01-29 20:48:37 GMT+00 13 Hours, 58 Minutes ago
The bearish reversal scenario indicated after the Hanging Man daily candlestick was invalidated with yesterday's bullish engulfing daily candlestick. Moreover, USD/CAD bulls kept defending the recent INTRADAY SUPPORT around 1.2300. Hence, a new bullish swing is being established without further retesting of 1.1950. The nearest resistance zone to meet the USD/CAD pair is located around 1.2800 where previous WEEKLY highs were previously established back in 2009.
2015-01-29 20:33:04 GMT+00 14 Hours, 14 Minutes ago
Bullish recovery is manifested on the H4 chart. A bullish breakout above the upper limit of the short-term flag pattern took place. A bearish pullback for retesting is being expressed today. The key-support level for today is the price level of 1.5120 (backside of the upper limit of the H4 Flag pattern). That is why daily closure should be considered today. Trading outside the H4 flag pattern (above 1.5120) enhances bullish side of the market at least towards 1.5260.
2015-01-29 20:27:59 GMT+00 14 Hours, 19 Minutes ago
USD/JPY is expected to trade in a lower range. It is undermined by the renewed decline in oil prices, the flows to the safe haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 16.03% to 19.98, S&P 500 closed 1.35% lower at 2,002.16 overnight) on growing market turmoil in Greece as its new government pushed for debt renegotiation with international creditors .
2015-01-29 20:20:27 GMT+00 14 Hours, 27 Minutes ago
USD/CHF is expected to trade with risks skewed higher. It is supported by the positive dollar sentiment (ICE spot dollar index last 94.63 versus 93.96 early Wednesday), the franc sales on soft CHF/JPY cross, the negative Swiss interest rates and the threat of the SNB CHF-selling intervention. But USD/CHF gains are tempered by the franc demand on soft EUR/CHF cross.
2015-01-29 20:15:19 GMT+00 14 Hours, 32 Minutes ago
Technical analysis and trading recommendations for EUR/USD for January 29, 2014. The EUR/USD has bounced off almost 300 pips from the level of 1.1100. The pair is poised to rally past the levels of 1.1417/20 and challenge the resistance of 1.1620/50.
2015-01-29 20:14:39 GMT+00 14 Hours, 32 Minutes ago
GBP/JPY is expected to trade in a higher range. It is undermined by the negative EUR sentiment as uncertainty mounts over the plans of Greece's new government to renegotiate the country's debt with international creditors. The pair is also weakened by flows to the safe haven yen amid increased risk aversion and Japan's exports. But GBP/JPY losses are tempered by the demand from the Japanese importers.
2015-01-29 20:09:23 GMT+00 14 Hours, 38 Minutes ago
On January 8, the GBP/USD pair showed initial bullish recovery off the price level of 1.5050. However, this was followed by a bearish spike reaching the price level of 1.4950 (slightly above the upper limit of the depicted channel). As anticipated, bullish rejection was expressed around the price level of 1.4950. This enhances the bullish side of the market at least towards 1.5250-1.5300 where we can take low-risk SELL entries as it was mentioned above.
2015-01-29 20:06:43 GMT+00 14 Hours, 40 Minutes ago
Once more, the pair is showing little movement ahead of the U.S. Unemployment Claims and Pending Home Sales. As it was suggested in the previous articles, conservative traders should be waiting for a bullish pullback looking for better prices to SELL the pair off (R1@1.1550 and R2@1.1700). The price zone of 1.1540-1.1600 is a recently established SUPPLY zone. Short-term SELL positions can be taken there. Stop loss should be placed slightly above the price level of 1.1680.
2015-01-29 19:59:31 GMT+00 14 Hours, 48 Minutes ago
NZD/USD is expected to consolidate with bearish bias after hitting near a 4-year low of 0.7310 overnight as the RBNZ keeps its cash rate at 3.5% but removes any tightening bias from its statement and even opens the possibility of rate cut. NZD/USD is also weighed by the unexpected New Zealand December trade deficit, the positive dollar sentiment, the kiwi sales on soft NZD/JPY cross and on buoyant AUD/NZD cross. The daily chart is negative-biased as bearish outside-day-range pattern was completed on Wednesday, the MACD is bearish, stochastics stays suppressed at oversold levels, five and 15-day moving averages are declining.
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2015-01-29 19:58:39 GMT+00 14 Hours, 48 Minutes ago
Our Fibonacci retracement 38.2% at the price of 1.5400 got broken. So, we may expect testing the level of 1.5800 (Fibonacci retracement 61.8%). My advice is to watch for potential buying opportunities on the dips.

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