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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.

2014-10-22 20:54:26 GMT+00 9 Hours, 42 Minutes ago
Last week on Wednesday, bullish recovery was expressed off 1.5880. Bullish engulfing daily candlestick is depicted on the chart. Bullish targets were located around the price zone of 1.6130-1.6180 ( already reached ). Bullish breakout off the depicted bearish channel is apparent on the daily chart. A bullish corrective move towards 1.6300 may occur. Breakout above 1.6140 is essential to confirm this suggested position. Otherwise, the pair remains under bearish pressure to revisit 1.5880 at least.
2014-10-22 20:32:30 GMT+00 10 Hours, 4 Minutes ago
USD/JPY is expected to trade in a higher range. It is underpinned by the reduced safe-haven appeal of the yen as the global risk sentiment improves (VIX fear gauge eased 13.41% to 16.08, S&P 500 closed up 1.96% at 1,941.28 Tuesday) on reports that the European Central Bank is considering fresh ways to stimulate the economy, while stronger-than-expected China 3Q GDP growth of 7.3% (versus forecast +7.2%) allayed fears that the world's second-largest economy would post a sharp slowdown.
2014-10-22 20:29:05 GMT+00 10 Hours, 7 Minutes ago
USD/CHF is expected to trade in a higher range. It is supported by the positive USD sentiment (ICE spot dollar index last 85.38 versus 85.01 early Tuesday) after higher U.S. Treasury yields (10-year at 2.227% versus 2.183% late Monday), bigger-than-expected 2.4% increase in U.S. September existing home sales (versus forecast +1.0%), dovish Swiss National Bank's monetary policy, and contagion from weak EUR on CHF.
2014-10-22 20:24:47 GMT+00 10 Hours, 11 Minutes ago
NZD/USD is expected to trade in a lower range. It is undermined by the positive USD sentiment (ICE spot dollar index last 85.38 versus 85.01 early Tuesday) after higher U.S. Treasury yields (10-year at 2.227% versus 2.183% late Monday) and bigger-than-expected 2.4% increase in U.S. September existing home sales (versus forecast +1.0%).
Without author
2014-10-22 17:47:42 GMT+00 12 Hours, 49 Minutes ago
Price is heading to test our Fibonacci expansion 100% at the price of 1.5815 like we expected. Be very careful when buying EUR/NZD at this stage since we may see more bearish pressure on the market. Watch for potential selling opportunities after retracement.
Without author
2014-10-22 17:39:05 GMT+00 12 Hours, 57 Minutes ago
We are facing a calm market and very low activity. Our Fibonacci retracement 38.2% is again on the test. Be careful when buying Gold and watch for potential selling opportunities. Any larger supply may confirm futher bearish movement.
2014-10-22 16:36:55 GMT+00 13 Hours, 59 Minutes ago
The price of GBP/USD pair has still been trapped between the levels of 1.6000 and 1.6125. In the long term, buying above the level of 1.6000 with the first target at 1.6093, it may resume to move towards 1.6187. However, stop loss should be set below 1.6000. On the other hand, below the price 1.6167 (1.6167: 127.% of Fibonacci retracement levels) look for further descending movement with targets at 1.6095 and 1.6031 in order to test the weekly pivot point.
2014-10-22 16:00:56 GMT+00 14 Hours, 35 Minutes ago
The count has been slightly changed in placing the top for wave -i- blue at the level of 136.99 and treating the rest of overlapping corrective cycle as a part of wave -ii- blue that is still missing one more push lower. The key level to the upside is the intraday resistance at the level of 136.25, however if the market will keep trading inside of the golden channel then more downside prices are expected.
2014-10-22 15:53:17 GMT+00 14 Hours, 43 Minutes ago
According to the previous events, the price of the EUR/USD pair is still moving between the levels of 1.2625 and 1.2755. Moreover, it should be noted that the market was so stable and the trend was also too clear (downward). Similarly, we expect a range around 72 pips today. Additionally, the value of 50% Fibonacci retracement levels are 1.2755 for that the key level of 1.2755 represents a downtrend to confirm the bearish market.
2014-10-22 15:44:56 GMT+00 14 Hours, 51 Minutes ago
The corrective cycle is getting more complex and time-consuming as the market is retracing deeper. The current key level is the upper golden channel boundary that should provide resistance and another leg down should be made to complete the corrective cycle. Any breakout higher would put the level of weekly pivot at the level of 1.1282 to test. Moreover, any further breakout higher is bullish and an alternative count indicating the low for wave 2 purple at the level of 1.1202 is in play. Otherwise, the intraday support at the level of 1.1202 should be broken and lower prices are expected.

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