February 2017

Daily analysis of USDX for March 01, 2017

USDX is looking to consolidate below the 200 SMA at H1 chart, with a very limited weakness around 101. However, the index is struggling to consolidate its structure in the path towards 100.44. If it manages to break below that area, we can expect furth... [...]

Daily analysis of GBP/USD for March 01, 2017

GBP/USD had another negative session with the help of a strong dynamic resistance offered by the 200 SMA at H1 chart. Currently, the pair is attempting a breakout below 1.2414 in order to reach the 1.2360 level as the first target to the downside. If s... [...]

NZD/USD approaching support, prepare to buy

We prepare to turn bullish above the 0.7176 support (Fibonacci retracement, horizontal overlap support) for a push up to the 0.7240 resistance (Fibonacci retracement, horizontal overlap resistance).Stochastic (21,5,3) is seeing strong support at the 10... [...]

AUD/USD remain bullish above support

We remain bullish above the 0.7668 support (long-term ascending support, horizontal support, Fibonacci extension) for a further push up to the0.7733 resistance (Fibonacci extension, horizontal resistance).The RSI (34) is seeing strong support above the... [...]

GBP/USD fundamental analysis for February 28, 2017

GBP/USD is still residing inside the corrective structure between 1.2550-1.2416. Today GBP has had such economic event as MPC Member – Designate Hogg Speech and it was good for GBP as further monetary policies were discussed. It influenced the market as it bounced off from the support 1.2416. Today USD also had high-impact news of Prelim GDP report which was forecasted to be 2.1% but published at 1.9%. The negative report of USD helped GBP to bounce off from the support and Upcoming US CB Consumer Confidence is forecasted to be 111.3 and the news is expected to bring some volatility in the market.

Now let us look at the technical view, currently the price has bounced from the support area of 1.2385-1.2416. As of GBP already getting some bullish pressure from the support it is expected that the price is going to move up towards the resistance at 1.2550 soon. On the other hand, if the price breaks below the support level 1.2385 then the corrective structure will break and we will change our bias to bearish.


The material has been provided by InstaForex Company - www.instaforex.com [...]