Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
GBP/USD
Analysis:
On the chart, the wave pattern is incomplete and indicates the downward trend. The wave pattern has been forming since the end of February. Wave C has been developing since April 20. A correction started within this wave last Friday. It has not ended yet.
Forecast:
During the upcoming session, a downward trend is likely. By the end of the trading day, the trend may reverse and the price may rise to the resistance zone.
Potential reversal zones
Resistance:
- 1.3950/1.3980
Support:
- 1.3860/1.3830
Today, GBP/USD can be traded with smaller lot sizes and in terms of separate sessions. Long positions can be considered from the support zone
USD/JPY
Analysis:
The short-term upward trend of USD/JPY has been developing since the beginning of the year. The price is approaching the lower border of the intermediate zone.
Forecast:
Today, the pair is expected to move sideways. In the first half of the day, the upward trend is likely. By the end of the day, the price may reverse form the resistance zone and the downward trend may start.
Potential reversal zones
Resistance:
- 109.60/109.90
Support:
- 109.00/108.70
The USD/JPY can be traded intraday with a smaller lot size. Positions should be closed once there is a reversal signal.
USD/CHF
Analysis:
The trend has been bullish since January 6. Last month, a correction occurred. At the moment of writing, the price reversed upwards.
Forecast:
The bullish trend is expected to reverse during the upcoming sessions.
Potential reversal zones
Resistance:
- 0.9170/0.9200
Support:
- 0.9100/0.9070
Today, traders should refrain from entering the market until the upward trend stops. In the resistance zone, it is worth looking for a sell signal.
GOLD
Analysis:
According to the chart, there is a bearish trend. The price has been moving sideways over the last couple of months.
Forecast:
The price is likely to move sideways along the support zone. By the end of the day, or tomorrow, the price may reverse and attempt to rise. The resistance zone is located near the lower border of a potentially strong reversal zone.
Potential reversal zones
Resistance:
- 1815.0/1820.0
Support:
- 1775.0/1770.0
There are no conditions for entering short positions today. Traders should monitor the emerging reversal signals to buy the instrument. The upside potential is limited by the resistance zone.
Note: In simple wave analysis, we review a three-wave pattern labeled A-B-C and analyze the last incomplete wave. Straight arrows show the complete wave structure, while dashed lines show the expected movements.
Warning: The wave pattern does not take into account the duration of the instrument's movements in time!
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
