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!

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US Dollar / Swiss Franc

Weekly Daily Hourly Trends Resistances 0.955 0.9515 0.95 Supports 0.938 0.941 0.9435 Our strategy FLAT

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Technical Outlook and Chart Setups:

As depicted above, the single currency is holding the 0.382 Fibonacci retracement level at 1.4900 for now. One can expect a bounce here which can at least take it to 1.5030 in a short term. Until prices are above the trend line is supported, which now passes through the 1.4820/30 levels, the wave structure remains unchanged and one should enter buying on dips towards 1.4900/1.4850. The upside target remains 1.5200 at least for now.

Trading Recommendations:

Buy at 1.4700, stop at 1.4900, targetting at 1.5200.

Good Luck!

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The spot rate is now testing the upper limit of its medium term bearish channel at 1.2720 and seems to initiate a decline. Still, a break through these levels will free good potential and initiate a violent bullish trend.
Technical indicators do not provide clear 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 1.2720 with the 1st objective at 1.2780 and then at 1.2800. A puncture of 1.2700 will invalidate this scenario.

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Best answer:

Answer by Lucky S
depends how you want to live, but if its just enough to live and still go out, and save a little, then id say about 5 or $ 600 a week if your on your own and in a place on your on or you could get a house share, but yeah just depends on your situation..hope this helped though..

What do you think? Answer below!

The spot rate is currently testing the intermediate support of its medium term bullish channel at 1.5690 and seems to start a rebound. However, a pass of these levels will release good potential and reach the lower limit of this one to 1,5360.

Technical indicators provide sell-signals but until the support is not broken the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.

According to previous events the market will provide a bullish opportunity at the level of 1.5690 with the 1st objective at 1.5750 and then at 1.5770. A break through 1.5670 will alter this scenario.

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Gold is currently testing the intermediate resistance of its medium term bearish channel at 1,580 and seems to initiate a decline. However, a break through these levels will release good potential and will be able to reach the upper limit of this one to 1,636.

Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.

According to previous events the market will provide a bullish opportunity as soon as gold has broken through its resistance of 1,580 with the 1st objective at 1,590 and then at 1,595. A break through 1,577 will invalidate this scenario.

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

Hi everybody, for this outlook video I concentrate on Cable for the most part but I also give the Aussie Yen some attention but also look at the S & P 500 which is something we havent done in some time. I hope you enjoy the video and good luck today!! David Pegler
Video Rating: 5 / 5

USD/CAD Elliott Wave
Yesterday the USD/CAD pair was trading upwards developing last 5 wave of the bigger 3 wave (coloured blue). During the European session we could observe ascending move toward the 1.0156 level. Therefore, during the New York session USD/CAD continued trading in a bullish mood reaching a new daily high at the 1.0195 level. Today during the Asian session we could observe one more push higher where the USD/CAD pair reached 1.0226. We can consider this move as the end of 3 wave (coloured blue) of the bigger (3) wave (coloured green). Presently we are at the start of the corrective 4 wave. In accordance with our wave rules and taking into account that the wave 4 retraces 61.8% of the wave 3, we can define the potential targets with Fibonacci retracements (1.0053-1.0226) with Take Profit 1 at 1.0108 (50% of wave 3) and Take Profit 2 at 1.0080 (61.8% of wave 3). The resistance level at 1.0225 can be used as Stop Loss. Also it is necessary to consider the data concerning the CAD Core CPI m/m, CPI m/m and USD Treasury Currency Report, G8 Meetings, that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.0073 (S2) 1.0107 (S1) 1.0129 (PP) 1.0164 (R1) 1.0198 (R2) 1.0220 (R3) 1.0255

Trading Forecast
Proceeding from Elliott Wave Rules this week the trend is expected to begin the downward movement. That is why Short positions at level 1.0165 with Stop Loss at 1.0225, Take Profit 1 at 1.0108 and Take Profit 2 at 1.0080 are recommended

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Euro / US Dollar

Weekly Daily Hourly Trends Resistances 1.28 1.275 1.271 Supports 1.262 1.264 1.267 Our strategy Entry Stop Target 1 Target 2 1.2705 1.2735 1.265 1.2625

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