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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.

2015-04-17 17:54:18 GMT+00 2 Days, 4 Hours, 38 Minutes ago
As we had anticipated, after such a long bearish rally (which started off 1.1300) bullish rejection was expressed at 1.0570 (monthly demand level). Shortly after, the EUR/USD pair failed to keep pushing above the depicted uptrend line. Hence, a double-top reversal pattern was executed around 1.1030. The daily fixation below the level of 1.0750 (neck-line) confirmed the reversal pattern, thus extending the projection target for the EUR/USD pair towards the level of 1.0330.
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2015-04-17 17:52:43 GMT+00 2 Days, 4 Hours, 40 Minutes ago
The bears are trying to make the USDX to test the support level at 96.30 in the short and medium terms. For now, it's not advisable to add long positions at this stage because the Index remains very strong in the current corrective move.
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2015-04-17 17:52:04 GMT+00 2 Days, 4 Hours, 41 Minutes ago
The corrective move remains very strong, at least in the daily chart, because GBP/USD is heading towards the resistance zone of 1.5125, which is likely to be tested in the next week.
2015-04-17 17:45:00 GMT+00 2 Days, 4 Hours, 48 Minutes ago
A bearish breakdown of 1.4700 enabled the pair to resume its bearish trend towards 1.4550 where a lower daily bottom was achieved (below 1.4700 which is the most recent bottom). This week, evident bullish recovery originated around these levels pushed the GBP/USD pair above 1.4700 again looking for better prices to sell the pair off. Currently, the bullish pullback towards 1.4950-1.5000 has already taken place (significant resistance zone). It is likely to offer a low-risk short entry with S/L as a daily closure above 1.5025.
2015-04-17 17:38:30 GMT+00 2 Days, 4 Hours, 54 Minutes ago
Successive lower highs were established within the depicted consolidation zone enhancing the bearish side of the market. Support levels around 1.2350 and 1.2300 (79.6% Fibonacci level) were finally broken on Wednesday after providing significant support for several weeks on the daily and weekly charts. A daily closure below 1.2300 clears the way for the USD/CAD pair towards the zone between 1.2050-1.2000 (where the projection target of the recent range breakout is located).
2015-04-17 16:49:16 GMT+00 2 Days, 5 Hours, 44 Minutes ago
Downward wave progression in corrective wave (a) blue of wave 4 green had moved even little lower than anticipated. This is why the count changed. There is still a possibility of an upside rebound right to the level of 1.2384 and a bullish divergence seems to be supporting this scenario. Nevertheless, the market hasn't finished with the down side and wave (b) blue is completed, wave (c) blue is expected to move downwards after wave (b) blue is completed.
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2015-04-17 16:14:32 GMT+00 2 Days, 6 Hours, 18 Minutes ago
USD/JPY is expected to trade with bearish bias. It is undermined by the negative dollar sentiment (ICE spot dollar index last 97.65 versus 98.39 early Thursday) after a weaker-than-expected increase of 2.0% in the U.S. March housing starts, a larger-than-expected drop of 5.7% in the U.S. March building permits, and more-than-expected U.S. jobless claims of 294,000 for the week ended April 11. The pair is also weakened by the comments of Fed's Lockhart saying that unexpected economic weakness over the start of the year means it will likely take longer to gain enough confidence in the outlook to raise short-term interest rates; and Fed's Rosengren saying that the dollar's strength was hurting U.S. growth, which could lead to a delay in raising rates.
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2015-04-17 15:58:57 GMT+00 2 Days, 6 Hours, 34 Minutes ago
USD/CHF is expected to trade in a lower range. It is undermined by the negative dollar sentiment and franc demand on the soft EUR/CHF cross and buoyant CHF/JPY cross. But USD/CHF losses are tempered by the negative Swiss interest rates, the threat of the Swiss National Bank to carry out CHF-selling intervention and positions adjustment ahead of the weekend.
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2015-04-17 14:00:07 GMT+00 2 Days, 8 Hours, 33 Minutes ago
We can observe weak supply, according to the daily time frame. Be careful when selling EUR/NZD around the price of 1.4030 (Fibonacci expansion 100%). If the price breaks the level of 1.4020 in a high volume, we may see possible testing of the level of 1.3715. Otherwise, we may see a bullish correction.
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2015-04-17 13:42:37 GMT+00 2 Days, 8 Hours, 50 Minutes ago
Sideways market is around the price of $1,204.00. According to the daily chart, we can observe supply in a volume above the average, but the price action is weak (weak supply). Be careful when selling at this stage. Buying positions are preferable above the level of $1,220.00.

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