Forex Technical Trend Analysis

 The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.

The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be given a notification beforehand concerning the market fluctuations as a rebound of the market or change of a trend.
If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

____WEEKLY_____
Weekly – R3 = 1.3448
Weekly – R2 = 1.3337
Weekly – R1 = 1.3247
Weekly Pivot = 1.3136
Weekly – S1 = 1.3046
Weekly – S2 = 1.2935
Weekly – S3 = 1.2845

____MONTHLY______
Monthly – R3 = 1.3946
Monthly – R2 = 1.3590
Monthly – R1 = 1.3336
Monthly Pivot = 1.2980
Monthly – S1 = 1.2726
Monthly – S2 = 1.2370
Monthly – S3 = 1.2116

The material has been provided by Instaforex Company – instaforex.com

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.

The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be given a notification beforehand concerning the market fluctuations as a rebound of the market or change of a trend.
If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

_____WEEKLY_____
Weekly – R3 = 1.1134
Weekly – R2 = 1.0964
Weekly – R1 = 1.0866
Weekly Pivot = 1.0696
Weekly – S1 = 1.0598
Weekly – S2 = 1.0428
Weekly – S3 = 1.0330

_____MONTHLY____
Monthly – R3 = 1.1364
Monthly – R2 = 1.1026
Monthly – R1 = 1.0822
Monthly Pivot = 1.0484
Monthly – S1 = 1.0280
Monthly – S2 = 0.9942
Monthly – S3 = 0.9738

The material has been provided by Instaforex Company – instaforex.com

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.

The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be given a notification beforehand concerning the market fluctuations as a rebound of the market or change of a trend.
If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

_____WEEKLY____
Weekly – R3 = 1.6141
Weekly – R2 = 1.6012
Weekly – R1 = 1.5912
Weekly Pivot = 1.5783
Weekly – S1 = 1.5683
Weekly – S2 = 1.5554
Weekly – S3 = 1.5454

_____MONTHLY____
Monthly – R3 = 1.6520
Monthly – R2 = 1.6157
Monthly – R1 = 1.5958
Monthly Pivot = 1.5595
Monthly – S1 = 1.5393
Monthly – S2 = 1.5033
Monthly – S3 = 1.4834

The material has been provided by Instaforex Company – instaforex.com

After a break though the long-term bearish channel marked in blue, the pair was trending up inside the narrow bullish channel marked in brown.

The pair managed to make a bullish breakout of the consolidation range 1.5650 – 1.5740 which opened the way for the pair to test 1.5775 that was broken too.

Break of resistance level 1.5775 which took place last week opened the way directly towards 1.5870 which showed BEARISH price action which made our view for the pair become bearish.

Last week We suggested a SHORT position after closure below 1.5815 with TP at 1.5820, 1.5775, 1.5740, 1.5690 then 1.5660.

Now the pair is testing the SUPPORT level 1.5740 showing BULLISH reaction till now which may lead to retracement to the upside before resuming the decline.

We should notice that GBP/USD currency pair has an intraday resistance level at 1.5775 which shouldn’t be broken in order to resume the down trend rapidly.

The material has been provided by Instaforex Company – instaforex.com

On January 27, EUR/USD reached Fibonacci level 38.2% at 1.3232 showing bearish presence there.

Last Tuesday, EUR/USD currency pair managed to make a bearish breakout & close outside the narrow bullish channel marked in brown.

The EUR/USD currency pair tried two successive days to return within the broken channel with failure.

Retesting of the broken channel took place last week failing to fixate within the broken channel again & is moving within the newly formed bearish channel marked on the chart.

The view for the pair is still bearish as long as it’s consolidating within the newly formed bearish channel and below resistance area 1.3215-1.3235

Sellers should take profits at 1.3105, 1.3060 then 1.3000 with possible further targets to be mentioned later.

Bearish reaction towards the lower limit of the broken bullish channel & the upper limit of the bearish channel opened the way to the lower limit of the newly formed bearish channel at 1.3030 initially which got hit short time ago.

Price action towards 1.3030-1.3000 should be watched in order to determine the next target for the pair, as its break will lead to 1.2950 then 1.2850.

Failure to break 1.3030-1.3000 pushes the pair towards 13100-1.3120 which will be good SELL entry.

The material has been provided by Instaforex Company – instaforex.com

The spot rate is moving in a medium-term trading range and approach to the upper limit of this one in 76.80 suggesting a decline. However a break of these levels would free a large potential and initiate a bullish trend.

Technical indicators provide seller signals suggesting a decline in the short term. Bollinger bands are stabilized showing a more regular volatility.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 76.80 with a 1st objective of 77.30, then 77.50. A break in 76.60 would invalidate this scenario.

The material has been provided by Instaforex Company – instaforex.com

The spot rate is currently testing the lower limit of its medium term bullish channel in 1.5760 suggesting a rebound. However a break of these levels would free a large potential and entail a bearish channel.

RSI provides sellers signals and approaching the overbuy zone supporting the assumptions of a decline. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5760 with a 1st objective of 1.5820, then 1.5850. A break in 1.5740 would invalidate this scenario.

The material has been provided by Instaforex Company – instaforex.com

The gold is currently testing the intermediate support of its medium term bullish channel in 1723 suggesting a rebound. However a break of these levels would entail a decline to the lower limit of this one to 1680.

RSI doesn’t provide clear signals but approaches the overbuy zone suggesting a decline. Bollinger bands are stabilized showing a more regular volatility.

According to previous events, the market indicates a bullish opportunity on the levels of 1723 with a 1st objective of 1733, then 1735. A break in 1721 would invalidate this scenario.

The material has been provided by Instaforex Company – instaforex.com

The spot rate is currently testing the intermediate support of its medium term bearish channel in 1.3060 suggesting a rebound. However a break of these levels would entail a decline to the lower limit of this one to 1.2990.

RSI provides seller signals suggesting a decline in the short term. Bollinger bands are stabilized showing a more regular volatility.

According to previous events, the market indicates a bullish opportunity on the levels of 1.3060 with a 1st objective of 1.3120, then 1.3150. A break in 1.3040 would invalidate this scenario.

The material has been provided by Instaforex Company – instaforex.com

Market Overview
GBP/JPY is trading in bullish channel for last 6 days, Today in the early Asian Session GBP/JPY pair continued to push in bullish mood reaching this week high at 121.10 ,this major pair did not manage to hold this level and  broke down to the 120.90 level,We can expect to see this major pair testing 121.15 before we can see Pound-Yen pair above 122.40 level.

Support and Resistance levels
(S3)119.91 (S2)120.27 (S1)120.49 (PP)120.86 (R1)121.22 (R2)121.44 (R3)121.81

Important News
(GBP)Halifax HPI m/m

GBP/JPY Elliott Wave Analysis

GBP/JPY Pair finish 1 wave of bigger c wave at 120.92 level, wave 2 is over  at 120.15 and we are currently in 3 wave.Concerning our wave rules and assuming that wave 3 will finish at 161.8% of wave 1 we can project our potential targets level with Fibonacci extensions(119.53-120.92-120.15) to 122.40 level.we can use end of wave 2 for our stop loss.

Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the upward movement to go higher today. That is why LONG position at levels 121.15 with Stop Loss at 120.15 and Take Profit at 122.40 are recommended

The material has been provided by Instaforex Company – instaforex.com