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Daily Forex Analytics from Instaforex to get more Pips

  • Silver continues consolidate. Above 32.25 breakout confirmed

    Technical outlook and chart setups: As depicted on the 4H chart view, Silver continues to consolidate in a decreasing resistance and increasing support fashion. Support levels have been rising from 30.75 level through 31.00, 31.30/40 and 31.60 respectively. Resistance levels have been falling from 32.50 level through 32.25 and 32.00 respectively. It is recommended to refrain from entering into fresh long positions at the moment, rather go long on a bullish break above 32.25. ...

    Posted at February 7, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • NZDUSD: Support around 145.8

    Overview: GBP/JPY is consolidating after hitting 34-month high of 147.3 on Wednesday. The rate is undermined by reduced investor risk tolerance; profit-taking on yen-shorts; and Japan exporter sales. But GBP/JPY losses tempered by aggressive BOJ monetary easing stance; demand from Japan importers. Daily chart is still positive-biased as MACD is bullish, stochastic stays elevated at overbought, 5- and 15-day moving averages are rising. Preference: ...

    Posted at February 7, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • GBP/USD technical analysis for February 7, 2013

    DESCRIPTION: Today, the pound still have a good and healthy bearish momentum, this is indicated by all the three Moving Averages still giving a "Death Cross" formation pattern. However since the 1.5775 level was breached by this currency three days ago, theoretically, the price was supposed to reach 1.5575 yesterday, but now it is still running at 1.5650. Bearish momentum for the pounds has slightly decreased. Today the official Bank Rate/MPC Rate ...

    Posted at February 7, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • EUR/JPY Elliott Wave analysis for February 7, 2013

    Today's support and resistance levels: S1: 125.73               R1: 126.83 S2: 125.30               R2: 127.70 S3: 124.65               R3: 128.98 Technical overview: We still expect short-term support at 125.73 to protect the downside for a break above minor resistance at 126.83, which will confirm a new rally higher towards 127.70 and higher towards the next strong resistance target ...

    Posted at February 7, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • Elliott Wave analysis of EUR/NZD for February 7, 2013

    Today's Support and Resistance levels: S1: 1.6086               R1: 1.6168 S2: 1.6043               R2: 1.6211 S3: 1.5990               R3: 1.6277 Technical overview: Important support at 1.5752 protected the downside well and we are currently testing the minor resistance line from 1.6359. A break above this resistance line will confirm the next rally higher towards 1.6278 and 1.6359 on ...

    Posted at February 7, 2013 | By : | Categories : Forex Analysis | 0 Comment