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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.

Without author
2015-05-29 20:28:35 GMT+00 2 Hours, 29 Minutes ago
USD/JPY is expected to consolidate in a lower range after hitting the 12.5-year high of 124.46 on Thursday. USD/JPY is undermined by the softer USD sentiment (ICE spot dollar index last 96.87 versus 97.29 early Thursday) as more-than-expected 282,000 US jobless claims in the week ended May 23 (versus forecast 272,000) offset stronger-than-expected 3.4% increase in the US April pending home sales (versus forecast +1.0%).
Without author
2015-05-29 20:22:16 GMT+00 2 Hours, 35 Minutes ago
USD/CHF is expected to trade in a lower range. It is undermined by the softer USD sentiment as more-than-expected 282,000 US jobless claims in the week ended May 23 offset stronger-than-expected 3.4% increase in the US April pending home sales. The pair is also supported by the franc demand on cross trades versus major currencies. 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.
Without author
2015-05-29 20:20:08 GMT+00 2 Hours, 37 Minutes ago
NZD/USD is expected to consolidate with bearish bias after hitting the four-year low of 0.7127 on Thursday. It is undermined by the contagion from the weak Aussie after disappointing Australian Q1 capital expenditure data, diminished investor risk appetite, and the 1.7% drop in the New Zealand April building consents. The pair is alsoo bosted by soft dairy prices, the kiwi sales on the buoyant EUR/NZD cross, and speculation that the RBNZ would cut interest rate in the coming months. But NZD/USD losses are tempered by the softer USD sentiment, NZD-USD interest differential, and positions adjustment ahead of the weekend.
Without author
2015-05-29 20:14:39 GMT+00 2 Hours, 43 Minutes ago
GBP/JPY is expected to trade in a higher range. It is underpinned by the improved euro sentiment and demand from Japan's importers. But GBP/JPY gains are tempered by the Japanese exports and positions adjustment ahead of the weekend.
Without author
2015-05-29 16:37:27 GMT+00 6 Hours, 20 Minutes ago
The key resistance level at 1.5400 is on the test. Watch for buying opportunities above the level of 1.5400. We got a weak price action around the levle of 1.5400. So, we may see a bearish correction. The first support level is around 1.5360.
2015-05-29 16:32:28 GMT+00 6 Hours, 25 Minutes ago
If price zone of 1.4350-1.4400 remains defended by bears, a bearish pullback should be expected towards 1.4000 shortly after. On the other hand, daily fixation above 1.4350 (range breakout) pauses the long-term bearish tendency of the market. It exposes higher price levels such as 1.4444 and 1.4550 for a quick visit.
Without author
2015-05-29 16:26:58 GMT+00 6 Hours, 30 Minutes ago
A strong market shake-out (reversal pattern) in an ultra-high volume. Gold is still in a strong trading range between the levels of $1,192.00 and $1,183.00. Our demand trendline is on the test, so be careful when selling gold at this stage. I am still waiting for a clear breakout to confirm further direction.
2015-05-29 15:57:59 GMT+00 6 Hours, 59 Minutes ago
A lower high was recently established at 1.5660 on Friday. That is why, the broken support zone (price zone of 1.5500-1.5450) failed to hold the current bearish momentum. It should now be acting as an Intraday resistance when further retesting takes place. On the other hand, the price levels of 1.5150 and 1.5100 are now exposed to be visited very soon. The nearest support zone to meet the pair is located around 1.5080-1.5100. It should be watched for low risk BUY entries. SL should be set as daily closure below 1.5080.
2015-05-29 15:40:36 GMT+00 7 Hours, 17 Minutes ago
Support levels around 1.2350 and 1.2300 (79.6% Fibonacci level) were broken after providing significant support for several weeks on the daily and weekly charts. A daily fixation below 1.2300 cleared the way for the USD/CAD pair towards the levels of 1.2000 and 1.1940 (projection target of the recent range breakout and the depicted weekly uptrend). That is why, significant bullish support was offered around these price levels. Since then, a bullish pullback has been taking place. The price zone of 1.2350-1.2400 remains significant Intraday resistance zone to be watched. Early signs of bearish reversal are now manifested on the chart (inverted hammer daily candlestick).
2015-05-29 15:16:35 GMT+00 7 Hours, 41 Minutes ago
Persistence below 1.5450 (lower limit of the broken channel) is needed to maintain the current bearish momentum. A bullish pullback towards 1.5450, will probably offer a valid sell entry for those who missed the initial breakout. Initial bearish targets would be located at 1.5250 and probably at 1.5100 (Depicted Demand Level) where a short-term buy entry may be offered.

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