Weekly Pivot Point: 1.5715.

GBP/USD:

• Resistance: 1.6030. (Sell below this level).
• Support: 1.5624. (Buy above this level).

Trading Recommendations:

According to previous events, the price is still located between the levels 1.5650 and 1.6030.

• The descending movement will probably take place lower than the 1.6030 level with the first targets at levels 1.5730 and 1.5633.
• BUY-deals are recommended higher than the 1.562 level with targets at levels 1.57 and 1.5889 (Weekly pivot point).

Overview:

It should be noted that the market revealed the signs of instability. The trend movement was controversial as it took place in a narrow sideways channel. Concerning the previous events, the price is still between the levels 1.5650 and 1.6030, so it is recommended to be cautious while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then, the market will probably indicate the signs of a bullish trend. In other words, BUY-deals are recommended higher than the 1.5625 level with its first target at the level of 1.5725. From this point the pair is likely to begin the ascending movement to the point 1.5825 and further to the level 1.5900. However, if the pair fails to pass through the level of 1.6030, the market will indicate a bearish opportunity below the strong resistance level 1.6030. In this regard, SELL-deals are recommended lower than the 1.6030 level with the first target at 1.5730. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.5633.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com .

Performed by Mourad El Keddani, Analytical expert of the Best Broker in Asia.

AUD/USD is developing impulse wave A (light green in the chart) of medium term downtrend. Within this wave there are five subwaves (magenta in the chart), and impulse subwave 5 is developing from 0.9934. The latter contrains subwaves A, and B (red in the chart), that is developing from 0.9689.

Now the immediate resistances are Fibonacci retracements of 0.9934-0.9689.

Resistances:

- 0.9783 = .382 retracement
- 0.9811 = .50 ret
- 0.9840 = .618 ret

If the price resumes the downtrend the targets below will be Fibonacci expansions off 1.0473-1.0110-1.0219, 1.0219-0.9795-0.9934.

Supports:

- 0.9672 = contracted objective point (COP)
- 0.9632 = expanded objective point (XOP)
- 0.9510 = objective point (OP)

Overbought/Oversold

The larger wave is now moving down, so it's prefereable to go short when the Detrended Oscillator goes above the zero level (current prices) or into the overbought area (15-30 pips above the current prices), watch for possibilities to go short at or near the indicated resistances.

Performed by Roman Molodiashin, Analytical expert of the Best Broker in Asia.

TODAY's   TECHNICAL   LEVELS: 

Breakout BUY Level : 1.2722.

Strong Resistance : 1.2715.

Original Resistance : 1.2703.

Inner Sell Area : 1.2691.

Target Inner Area : 1.2661.

Inner Buy Area : 1.2631.

Original Support : 1.2619.

Strong Support : 1.2606.

Breakout SELL Level : 1.2598.

DESCRIPTION :

Today EUR/USD has support and resistance at 1.2619 and 1.2703 and is accompanied by strong support at 1.2606 and by 1.2715 as strong resistance.

If EUR/USD breaks out and closes below a 1.2598-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2722-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2631, and at 1.2691– a SELL position, in this case both targets should be located at the level of 1.2661.

Performed by Arief Makmur, Analytical expert of the Best broker in Asia.

TODAY's   TECHNICAL   LEVELS:

Breakout BUY Level : 1.2874.

Strong Resistance : 1.2866.

Original Resistance : 1.2854.

Inner Sell Area : 1.2842.

Target Inner Area : 1.2811.

Inner Buy Area : 1.2780.

Original Support : 1.2768.

Strong Support : 1.2756.

Breakout SELL Level : 1.2748.

DESCRIPTION :

Today EUR/USD has support and resistance at 1.2768 and 1.2854 and is accompanied by strong support at 1.2756 and by 1.2866 as strong resistance.

If EUR/USD breaks out and closes below a 1.2748-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2874-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2780, and at 1.2842– a SELL position, in this case both targets should be located at the level of 1.2811.

Performed by Arief Makmur, Analytical expert of the Best Broker in Asia.

The spot rate is currently testing the upper limit of its medium term bearish channel at 1.2800 and seems to initiate a decline. However, a break through these levels will release good potential and initiate a violent bullish trend.

Technical indicators provide sell-signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.2800 with the 1st objective at 1.2860 and then at 1.2880. A break through 1.2780 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert of the Best Broker in Asia.

Technical Outlook and Chart Setups:

We have depicted the daily wave structure above. It is quite possible that C is in place at the 111.00 level, which is the 0.618 level of A (117.00) and B (97.50) levels. The new channel resistance is holding well and prices have broken down 110.50 levels as well. The last intermediary support level comes in around the 100.15 level. A bounce from there can still change the wave structure to bullish, but a break will then target below the 97.00 level as our D extension. As of now one can still remain short for one more day, though our expected downside targets have been met, bring down the stop loss risk to 102.00 now.

Tradign Recommendations:

Sell at 104.00/104.25, stop at 105.50, targets achieved at 100.50. Still holding short positions with stop at 102.00 now.

 Good Luck!

Performed by Harsh Japee, Analytical expert of the Best Broker in Asia.

TODAY's   TECHNICAL   LEVELS:

Breakout BUY Level : 1.2793.

Strong Resistance : 1.2786.

Original Resistance : 1.2774.

Inner Sell Area : 1.2762.

Target Inner Area : 1.2732.

Inner Buy Area : 1.2702.

Original Support : 1.2690.

Strong Support : 1.2678.

Breakout SELL Level : 1.2670.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.2690 and 1.2774 and is accompanied by strong support at 1.2678 and by 1.2786 as strong resistance.

If EUR/USD breaks out and closes below a 1.2670-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2793-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2702, and at 1.2762 – a SELL position, in this case both targets should be located at the level of 1.2732.

Performed by Arief Makmur, Analytical expert of the Best Broker in Asia.

At the moment the spot rate is testing the intermediate resistance of its medium term bearish channel at 102.90 and is likely to decline. However, a breakdown of these levels will release significant potential and enabling to reach its upper limit in 104.20.

Technical indicators provide sellers signals but as long as the resistance is unbroken, the assumption of a decline is relevant. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

Proceeding from previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 102.90 with the 1st objectives seen at 103.50 and 103.70 levels. In case the level 102.70 is passed through, the proposed scenario will be cancelled.

Performed by Albert Fitoussi, Analytical expert of the Best Broker in Asia.

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Performed by Grigory Sokolov, Analytical expert of the Best Briker in Asia.