Wave Analysis from InstaForex

[bczbivcy71]

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Me and my colleagues are going to provide you with the latest analysis reviews. Please, follow our analysis and you will be informed about Forex. Hope, our reviews will help you to increase the efficiency of your trading.

[BradleyHems]

In Asia, Japan will release the leading indicators. The US will release some economic data such as Federal Budget Balance, 10-y Bond Auction, and Crude Oil Inventories. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Resistance. 3: 109.52.
Resistance. 2: 109.30.
Resistance. 1: 109.09.
Support. 1: 108.82.
Support. 2: 108.61.
Support. 3: 108.40.

[BernadoZoge]

GBP/USD continues trading slow in a sideways range, but still trapped below the 200 SMA and dominated by the bearish bias. If pair does another rebound at the current levels and spikes towards the resistance zone of 1.4549, it could break that level for further advance to the 1.4635 level. The 200 SMA remains flat and the MACD indicator is at the negative territory.

H1 chart's resistance levels: 1.4549 / 1.4635
H1 chart's support levels: 1.4430 / 1.4316

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4430, take profit is at 1.4316, and stop loss is at 1.4542.

[Brontobbrigo]

USDX is currently doing a rebound above the 200 SMA on the H1 chart, and we can see another rally toward the 94.35 level on a short-term basis. However, this bullish trend could get invalidated when the Index does a breakout of the May 11th lows, which should push the price lower below the 200 SMA. The MACD indicator is reaching overbought territory.

H1 chart's resistance levels: 94.35 / 94.61
H1 chart's support levels: 94.06 / 93.80

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 94.34, take profit is at 94.61, and stop loss is at 94.09.