Thread: InstaForex Wave Analysis

Technical analysis of USD/JPY for September 04, 2014



In Asia, Japan will release the Monetary Policy Statement and BOJ press conference. Besides, the US will release some economic data such as ADP non-farm employment change, trade balance, unemployment claims, revised non-farm productivity q/q, revised unit labor costs q/q, final services PMI, ISM non-manufacturing PMI, natural gas storage, and crude oil Inventories. So, there is a big probability the USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS: Resistance. 3: 105.48. Resistance. 2: 105.23. Resistance. 1: 105.02. Support. 1: 104.77. Support. 2: 104.57. Support. 3: 104.36.

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Technical Analysis of USD/CAD for September 05 , 2014



The pair drifted and held the support at 50Dsma in the previous day. Twice the 5Dsma gave enough support to push the price to the North. The pair has strong support at 1.0803 for the short term and 1.0856 for the near-term basis. The pair is facing strong resistance at 1.09. We strongly recommend to buy only above this with the targets at the 1.0910, 1.0926, and 1.0940 levels, even 1.0960 is also possible. On the down side, the pair has strong support at 1.08820 for an intraday session. Below this, the pair will face selling pressure up to the 1.0873, 1.0869, and 1.0856 levels. The strong buy will appear above 1.1 for the 1.1068 and 1.111 levels in the short term.

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Technical analysis of GBP/CHF for September 08, 2014






Technical outlook and chart setups:
1. The GBP/CHF pair is seen to be bouncing lower from the line of resistance here. As expected, the pair has reversed from 1.5250/75 levels last week and has also re-tested the same. Currently trading at 1.5100/10 levels, the pair is expected to continue drifting lower to the 1.4900 and subsequently to 1.4800 levels. On the flip side, only a push above 1.5350 levels would be of concern to bears.
2. Support is seen at 1.4960, followed by 1.4760 levels and lower while resistance is seen at 1.5350/60, followed by 1.5430/50 respectively.
3. The structure indicates that GBP/CHF could remain in control of bears till 1.49/1.48 levels at least.


Trading recommendations:
Remain short for now, stop at 1.5350, target is 1.4800 levels.

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Technical analysis of EUR/JPY for September 09, 2014



Technical outlook and chart setups:
The EUR/JPY bulls responded well at the back side of resistance turned support line yesterday, as expected. The pair has now produced a bullish reversal candlestick pattern as seen on the daily chart view here and prices and prices pushed ahead up to 137.00 mark before closing at 136.80 yesterday. It looks like the bulls are back in control and should continue dragging prices higher up towards 139.80 and subsequently also through 141.30/40 levels. Support is now seen at 136.00/135.80 levels, while resistance is fixed at 138.20 (interim), followed by 139.20, and 140.10 respectively. The structure for now, reveals that bulls remain in control, bottom line remains that 135.80 should hold well.

Trading recommendations:
Remain long for now, stop just below 135.80, target 139.80 at least. More analysis - at instaforex.com

Technical analysis of USD/JPY for September 11, 2014



In Asia, Japan will release the BSI Manufacturing Index. Besides, the US will also release some economic data such as Natural Gas Storage and 30-y Bond Auction. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS: Resistance. 3: 107.25. Resistance. 2: 107.04. Resistance. 1: 106.83. Support. 1: 106.58. Support. 2: 106.37. Support. 3: 106.16.

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Intraday trading recommendations for Gold for September 15, 2014







The yellow metal drifted to a 5-month low, trading near support zone. The metal lost its shine by rising expectations that the US Federal Reserve will raise the interest rates rather earlier than later. The metal has a minor support zone between $1,225 (80.0 fib level) and $1,217 levels. Currently in Pacific session, the metal is trading at $1,225.50 level near the support zone. We recommend fresh selling only below $1,225 or $1,217 (safe trades). Risky traders can buy using sl $1,217 at cmp $1,225.50 for an upside target at $1,231, $1,234, $1,237 and $1,240 levels. The metal has intraday resistance at $1,235, $1,239, $1,242 and $1,248. Strong up move we can see only above $1,248 on a weekly basis.


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Technical analysis of Silver for September 16, 2014



Technical outlook and chart setups: Silver has been in a broad consolidation range since June 2013 as depicted on the weekly chart view here. The consolidation type has been decreasing resistance ( $25.10, $22.70, $21.60) and constant support ( $18.20/50). Normally such consolidation ranges break lower, hence it is recommended to enter long positions only after confirmed reversal signal appearance around the support levels. The metal is currently trading at $18.69 levels and might be preparing to produce bullish reversal signal. Please note that support is at $18.20/50 while resistance begins from $20.00 levels. Trading recommendations: Flat for now, looking to initiate long positions on reversal.

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Technical analysis of Silver for September 18, 2014






Technical outlook and chart setups:
Silver remains in control of the bears, around $18.50 levels for now, as depicted here on the weekly chart view. As seen here, the support line of the overall consolidation is passing through the current levels and it is a make or break situation around $18.20/50 levels. RSI is hinting towards a potential bullish divergence at 34.00 levels (not seen here). A bullish reversal at current levels should be extremely favorable for bulls. Immediate support is at $18.20 while immediate resistance is the $18.80/90 level, followed by $19.90 respectively.It is yet recommended to remain flat and await a reaction here on the support line of consolidation.


Trading recommendations:
Remain flat for now, look to go long on confirmation.


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Short-term trend levels and an intraday recommendation for Gold for September 22, 2014






The yellow metal drifted to $1,213 levels in Friday's session, but managed to close above $1,215 levels. The strong US dollar puts pressure on the metal. Now the metal is trading at $1,215.70, it made a low at $1,214.50. The metal has support at $1,212 (200MEma) and $1,185 (200MSma). The short- and medium-term trend setup at these levels; in case of a daily and weekly close below $1,212, the metal will drift towards $1,185, $1,150 and may be even lower to $1,120 levels. Twice these levels pushed the metal from the lower levels. In June 2013 the metal made a low at $1,180, hit the 200MEma, but 200MSma helped the metal to push higher levels and in December 2013 the situation repeated. Currently the metal testing its fortune at the same support zones again. If this time the metal holds the support, it will give a good rally again, but the chances are very remote. We can still see the bear image in the metal chart.


Support $1,212, $1,185-$1,180, $1,120
Resistance $1,228, $1,242, $1,254



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GBP/USD Intraday Technical analysis






Technical outlook and chart setups:
Gold had produced a doji yesterday around $1,213.00/15.00 levels. Potential indications from here are for a reversal or at least a pullback towards the $1,280.00 region (fibonacci 0.618 resistance of fall from $1,300.00 to $1,208.00). The metal needs to at least clear $1,240.00 levels to confirm, that bulls are ready to take control back. Immediate support is seen around $1,200.00 levels, followed by $1,180.00, while resistance is seen at $1,240.00, followed by $1,273.00 and higher up respectively. As seen here, the metal is in process to produce a morning star bullish reversal candlestick pattern. It is recommended to plan a long entry after the above signal is confirmed on the daily chart view.


Trading recommendations:
Remain flat for now. Looking to go long.


More analysis - at instaforex.com