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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.

2015-08-28 20:12:54 GMT+00 21 Hours, 21 Minutes ago
USD/JPY is expected to continue with the upside movement. Overnight, US stocks marched higher amid higher GDP growth, a rally in the Asian and European markets, and soaring oil prices. The Dow Jones Industrial Average rose 2.3% to close at 16,654, the S&P 500 gained 2.4% to 1,987, and the Nasdaq Composite increased 2.5% to 4,812. The US government reported that 2Q GDP grew at an annualized rate of 3.7% (vs +2.3% previously estimated), and initial jobless claims fell to 271K for the week ended August 22 (vs 277K in the prior week).
2015-08-28 20:03:48 GMT+00 21 Hours, 30 Minutes ago
USD/CHF is expected to trade with bullish bias as the trend remains bullish. The pair is clearly supported by a bullish trendline established since August 25. At the current stage, the intraday momentum is still strong as the intraday RSI stands firmly above its 50 area without displaying any reversal signals. In this case, the bias remains bullish, as long as 0.9550 is support. Further advance seems to be on the cards towards 0.9730.
2015-08-28 19:59:52 GMT+00 21 Hours, 34 Minutes ago
NZD/USD is expected to trade with bearish bias below the key resistance at 0.6515. The pair remains in consolidation on an intraday basis, and is under pressure below its nearest resistance at 0.6515. The upside potential is likely to be limited by this key level. Besides, the intraday RSI lacks bullish momentum. Therefore, as long as 0.6515 is not surpassed, look for a choppy price action with a bearish bias. Our next downside targets are set at 0.6425 and 0.6365.
2015-08-28 19:50:39 GMT+00 21 Hours, 43 Minutes ago
GBP/JPY is expected to trade in a lower range. The pair remains on the downside and is currently challenging its key resistance at 136.45. And the intraday RSI lacks further upward momentum. The first target to the downside is therefore set at yesterday's low at 185.25. A break below this level would open the way to further weakness towards the horizontal support and overlap at 184.10 in extension. Only a break above the key resistance at 187.25 would call for further upside.
2015-08-28 19:35:36 GMT+00 21 Hours, 58 Minutes ago
Since last Friday, extensive bullish pressure was applied until bearish rejection was expressed around the price level of 1.1700. That is when, extensive bearish rejection was expressed on Wednesday. The market looked overbought as the bulls were pushing above the price level of 1.1500 (Daily Supply Level). That's why, a bearish corrective movement is currently taking place towards the price level of 1.1160. Conservative traders should wait for a valid BUY entry anywhere around the price level of 1.1160 (corresponding to the depicted uptrend line as well as 61.8% Fibonacci level). S/L should be placed below 1.1100.
2015-08-28 18:45:52 GMT+00 22 Hours, 48 Minutes ago
Silver price continues to rise gradually approaching the previously broken support level of 14.70 that turned into resistance now. It was met by the EMA50 to add more strength accompanied by stochastic in the overbought areas.
2015-08-28 18:44:11 GMT+00 22 Hours, 49 Minutes ago
GBP/JPY broke the support level of 191.96 last week suggesting that the rebound from 184.95 was already completed at 195.25. A fall from there is viewed as the third leg of the consolidation pattern from 195.86. An initial bias is on the downside this week (for 184.95 support and below).
2015-08-28 18:01:59 GMT+00 23 Hours, 32 Minutes ago
Prominent supply/resistance levels were located around the level of 1.5770 (prominent 61.8% Fibonacci level) where the Right shoulder of the depicted bearish reversal pattern was originated. That is why, a valid sell entry was suggested for retesting 1.5770 on Monday. The position is already running in profits now.
2015-08-28 17:31:19 GMT+00 1 Day, 2 Minutes ago
A daily fixation above 1.5690 (the upper limit of the consolidation range) hindered the bearish scenario for some time exposing a breakout projection target at 1.5800. A valid sell entry with a low risk/reward ratio was suggested around the levels of 1.5780-1.5800. It is already running in profits now. The nearest support levels to meet the GBP/USD pair are located at 1.5355 then 1.5260 Note that persistence below the zone of 1.5450 (lower limit of the broken consolidation range) is essential to pursh the pair towards lower bearish targets at 1.5350 and 1.5245.
2015-08-28 17:24:54 GMT+00 1 Day, 9 Minutes ago
The long-term bullish target was projected towards the level of 1.3270 (100% Fibonacci Expansion) where bearish pressure should be expected. Bulls were approaching this level this week. Bearish corrective movement towards the level of 1.2750 (Breakout Level) should be expected as long as USD/CAD bears keep defending the current Fibonacci Expansion zone at 1.3270-1.3300. On the other hand, bearish persistence below 1.3050 is needed to expose the next support level around 1.2910 and then 1.2800 where long-term buy entries can be considered.

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