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Analysis of USDX for March 07, 2014
http://forex-images.instaforex.com/u...143_usdxh1.png
The ADP report out of the US delivered a drastic blow to bullish expectations for a positive NFP report in February. December and January showed the US labor market which is not nearly as strong as many have anticipated. Economists expect that 150,000 jobs were added last month, up from only 113,000 jobs added in January. The US economy appears to be much weaker than expected and yesterday's ADP report suggests that today's NFP report will print the third consecutive disappointment. If the same thing happens, the US Federal Reserve may have to adjust its tapering due to economic weakness in the US. It would send conflicting signals to forex traders, and USD is likely to violent swing with more downward, sell off sharply with heavy volume. Technical view- The US dollar is trading below the moving average's and hammered towards the October 2013 low at $79. The US dollar made a double top at the end of January 2014, and kept on correcting itself. It was unable to move above the 50SMA. In the H4 and hourly charts, RSI is under an oversold condition, expecting a pullback with the previous support at 79.0. A break below the 79.0 mark will push it up to 78.6, 77.0, and 75.75.
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Technical analysis of AUD/USD for March 10, 2014
http://forex-images.instaforex.com/u...UDUSDDaily.png
The pair is reaching the major resistance zone 0.9152-0.9166. On Friday's trading session the price broke the resistance level 0.9080 and made high at 0.9133. In the Asia's trading session, the pair is trading at 0.9058, coming back and trading below the previous resistance level 0.9080. Currently the pair looks attractive for buying only if it trades above this level for the targets 0.9122, 0.9166, 0.92 and 0.9256. On the downside 0.8972 and 0.8923 is the strong support. Break below 0.8923 looks weak and could fall up to 0.8730, 0.8693 and 0.8659.
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Technical analysis of EUR/USD for March 12, 2014
http://forex-images.instaforex.com/u...2/EURUSDH4.png
The EUR/USD pair stays above the 21EMA level in 4-hour chart, and remains in uptrend from 1.3477. The uptrend could be expected to continue after a minor consolidation, and the next target would be at 1.4000 area. Initial support is at 1.3825, and the key support is at the trend line, only a clear break below the trend line support could signal the completion of theuptrend. In the H4 chart, oscillators are giving a sell indication. We could expect the price to fall before it moves further. If the price breaks below the level 1.38509, it will fall up to 1.3834 1.38232 and 1.3799. More downside only below 1.3799 towards 1.3718.
Recommendations- Sell below 1.38509 targets1.3834, 1.3823, 1.3799 and 1.3718
Buy above 1.3877 targets 1.3898, 1.3915 and 1.40(above 1.3910 only further up move).
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Technical analysis of EUR/USD for Mach 13, 2014
http://forex-images.instaforex.com/u...3/EURUSDH4.png
EUR/USD remains in uptrend from 1.3477, the fall from 1.3915 could be treated as consolidation of the uptrend. Key support is at the upward trend line in 4-hour chart. As long as the trend line support holds, the uptrend could be expected to resume, and the next target would be in the 1.4000 area. Only a clear break below the trend line support could signal the completion of the uptrend. In the daily chart, the pair was facing stiff resistance at the level of 1.3915. The next up move happens only above the level of 1.3915 for 1.40. During yesterday's trading session, we recommended a buy call above the level of 1.3877 with targets at 1.3898, 1.3915, and 1.40. We are waiting for the final target. On the downside, a move below the level of 1.3880, the price will fall to 1.3860, 1.3833, 1.3812, and 1.3782 (intraday). A fresh breakout is only above 1.3964 for 1.40 and 1.4171. Intraday recommendation- Buy above 1.3915 with targets at 1.3664 and 1.40. Sell below 1.3880 with targets at 1.3860, 1.3833, 1.3812, and 1.3782.
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Technical analysis of AUD/USD for March 14, 2014
http://forex-images.instaforex.com/u...UDUSDDaily.png
The pair has been trying to cross the resistance level of 0.9085. If the pair closes above the level of 0.9085, then we can see a huge momentum upside towards the targets at 0.9205, 0.9246, 0.9450, and 0.9516. The pair did multiple attempts to cross the 0.9085 level from its daily high made on January 13, 2014. It succeeded three times, but was unable to close above that level. On the down side, 0.8992, 0.8977, and 0.8929 are the strong support zones. A move below the level of 0.8890 will lead to a fall towards 0.8730, 0.8693, and 0.8660. The daily momentum indicators show a buy signal.
Positional
S1 0.8992 R1 0.9085
S2 0.8890 R2 0.9205
S3 0.0.8693 R3 0.9246
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Technical analysis of EUR/JPY for March 17, 2014
http://forex-images.instaforex.com/u...py17032014.jpg
Technical outlook and chart setups:
1. The EUR/JPY pair seems to be bouncing off right from the trend line support as seen here. Please note that this region is also the past resistance turned support area. It is recommended to book profits from short positions taken earlier. Aggressive trade setup would be to go long again, risk remains below 140.00.
2. Immediate support is at 138.50/136.50 (intermediary), followed by 134.00, 131.00 and lower, while resistance is at 144.00 (intermediary), followed by 145.50 respectively. 3. The structure reveals that a bullish bounce here, would bring back control with bulls again and prices should rally back towards fresh highs.
Trading recommendations:
Book profits on short positions. Initiate longs now (141.05), set stop below 140.00, target is open.
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Technical analysis of USDX for March 18, 2014
http://forex-images.instaforex.com/u...545_usdxh4.png
The US dollar index is trading in a weak trend. The pair is in a consolidation phase with strong support between 79.27 and 79.0. The RSI gives positive divergence indications in the hourly chart. A move below the 79 mark leads to more dramatic fall in coming days. On the upside, a move above the 79.70-79.87 area will attract buying bids. If the price crosses the 79.87, a buy call will generate towards the 80.12, 80.40, and 80.75 levels. In the daily chart, RSI is at a buying level. If any dramatic fall happens, it leads to oversold and a pullback will be expected in the near term. On the downside, if the price breaks the 79 mark, it will drift to 78.90 and 78.6 immediately. Buying is the best strategy in the near term.
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Technical analysis of EUR/USD for March 19, 2014
http://forex-images.instaforex.com/u...urusddaily.png
The euro has risen in what could turn out to be an ending pattern. Based on the wave count below, we are in wave c of E up with the upper line at 1.396. Will it stop there or not? Will it take a European intervention to stop it? The Dollar index broke below the 79.5 mark, consolidating near the lowest levels. A break below the recent lows showing continued weakness in the dollar is going on. If the dollar goes into a collapse, trillions of the US dollars will start flowing out into other markets, then I am not sure what it will look like. 1.396 is going to be an important level. In Asia, the pair is trading at 1.3928. The pair is holding above the 21EMA in H4 chart. On the downside, support exists at 1.3910, 1.3891, 1.3862, and 1.3833. If the pair breaks the 1.3833 levels, it will drift to 1.3707. We can expect a strong reversal to happen at the level between 1.3845 and 1.3833. On the up side, if the pair trades above the 1.3966 level, we will see 1.4 and 1.41 levels.
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Technical analysis of EUR/USD for March 20, 2014
http://forex-images.instaforex.com/u...0/EURUSDH4.png
EUR/USD is trading near key support at the level of 21EMA at 1.3816. Today in Asia, the pair has broken the level and made a low at 1.3814 as of now. As we recommended earlier, hold shorts until the pair crosses the level of 1.396. In the daily chart, the RSI is showing a sell sign. For today, trading perspective at 1.3803 is the key level, if the pair holds this level, we will see some pullback from the current level.
On the upside, 1.3893 and 1.3945 is the major resistance level fon a hourly basis. In the H4 chart, RSI is in oversold condition, we can see some pullback. On the downside, if the pair breaks the level of 1.3803 it will drift towards 1.3774 1.3708, and 1.3643.
Recommendation
- 1.3803 is the key level.
Intraday Buy with sl 1.3773 for targets at 1.3899, 1.3945.
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Technical analysis of Silver for March 21, 2014
http://forex-images.instaforex.com/u...ily%5B1%5D.png
Unlike gold, silver failed to go above the 40-week average. It lacks the same impulsive behavior so it might be doing something different. $20.42 is the 20wma support, below which I would consider that its still forming a triangle and could go down to the lower line at $19.22$.
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Technical analysis of USD/CAD for March 25, 2014
http://forex-images.instaforex.com/u...5/USDCADH4.png
USDCAD broke above the prior 1.1224 high and reached as high as 1.1279, indicating that the uptrend from 1.0182 has resumed. Further rise could be expected, and the next target would be in the 1.1500 area. Key support is at the upward trend line in the daily chart, only a clear break below the trend line support could signal the completion of the uptrend.
On an intraday basis, the pair has support at 1.1180 and 1.1149. Whereas 1.1149 is the major support; if it breaks, we will see the 1.1083 level.
S1 1.1180 R1 1.1205
S2 1.1149 R2 1.1246
S3 1.1083 R3 1.1279
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Technical analysis of USD/JPY for March 26, 2014
http://forex-images.instaforex.com/u...SDJPYDaily.png
The USD/JPY moved sideways in a narrow range between 102.01 and 102.50. Resistance is at 102.50, a break above this level will trigger another rise to test the 103.76 resistance. Support is at 102.01, a break down below this level will signal completion of the uptrend from 101.20, then the following downward movement could bring the price to the 100 and 98.00 zone.
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Technical analysis of USD/JPY for March 27, 2014
http://forex-images.instaforex.com/u...UJ27032014.jpg
In Asia, Japan will not release any economic data and the US will release some economic data such as Unemployment Claims, Final GDP q/q, Final GDP Price Index q/q, Pending Home Sales m/m, Natural Gas Storage. So there is a big probability the USD/JPY will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.38.
Resistance. 2: 102.18.
Resistance. 1: 101.99.
Support. 1: 101.74.
Support. 2: 101.54.
Support. 3: 101.34.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.34) and resistance 3 (102.38). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
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Technical analysis of USD/CAD for March 28, 2014
http://forex-images.instaforex.com/u...SDCADDaily.png
The pair has been in a downtrend from the 1.1279 level. The pair has kept correcting for the last 5 days. It has erased all its gains this week. In Asia's trading session, the pair is trading at 1.1031. The pair is trading near the support trend line (purple) and below all the near moving averages that raises bearish view. On the downside, the pair has support at 1.0955 and 1.0910. A move below the level of 1.0910 makes real problems for bulls, and bears will take the pair towards the blue trend lines and the last lower support level at 1.0687 (200EMA).
In the H4 chart, RSI is giving a buy signal. As of now, the pair is trading at 1.1031. We expect a pullback in 1 or 2 days. On the upside, it is facing resistance at 1.1089, above this, it will fly up to 1.1119, 1.114, and 1.1162.
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Gold technical analysis for March 31, 2014
https://forex-images.instaforex.com/...868_goldh4.jpg
Gold prce has made an impulsive decline from $1,391 to $1,285. This impulsive decline together with the fact that the upward breakout was fake, makes me believe that Gold price will have more downside pressure if the price remains below $1,400. I believe that over the next few months, we will see Gold price making new lower lows than $1,180 towards $1,100. Gold price in the short-term is oversold and that is why my strategy is to wait for an upward bounce before enterish short positions.
Gold price has finally broken out of the downward sloping red trend line. This is an initial reversal sign and a clue that the short-term bottom might be in. As long as price trades above $1,285, there are increased probabilities of moving higher towards $1,322. Short-term resistance is found at $1,308-10. Short-term support is at $1,285. I expect Gold price to retrace at least the 38% of the decline.
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Technical analysis of Gold for April 01, 2014
https://forex-images.instaforex.com/...401/GOLDH1.png
Gold prices may recieve support from the Asian physical demand, but ultimately we would expect the rising costs of production to provide a floor under which gold prices will stop falling. As these rising costs of production catches up with the price of gold, so prices will form a base and eventually begin moving higher once more.
In the Asia's trading session, gold is trading at $1,282. Before I have started writing this report, gold dropped to $1,277 and then pulled back. Due to oversold levels in the H1 and H4 chart, gold pulled back from the lower levels. As I recommended earlier, gold will gain some buying support between $1,279-$1,260 levels. In the H1 chart, the price is making some base around the level of $1,282. I prefer to go long with sl at $1,277 for targets at $1,287, $1,291, and $1,293 levels. On the upside, $1,294 is the strong resistance level for intraday perspective, above this the price will push towards $1,298 and $1,304 levels. On the down side, if the price breaks the $1,277 levels, go short for targets at $1,270, $1,265, and $1,261 levels.
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Fundamental analysis of USD/CAD for April 02, 2014
https://forex-images.instaforex.com/...2/USDCADH4.png
We expect this pair to continue to consolidate with the possibility of a breakout or breakdown after Friday's numbers, but until then it is going to be very difficult to imagine the market doing anything of substance as the area has been so well-defined. The pair behavior is very sensitive to these particular announcement. Because of this, we feel that this is one that we can only buy at this moment time, at least until we see what the job numbers (US-non farm payroll, CAD-employment data) are.
The pair has been in a downtrend from 1.1279 and it has been consolidating near 1.1 levels. RSI is supporting for pull back view in the H4 & H1 charts. For hourly basis, the pair is facing resistance at 1.0380. One can enter longs above this level for targets at 1.0469 immediately. Above this, 1.1070 and 1.10917 are the resistance levels. On the downside, 1.1 is the strong support.
On an intraday basis, the pair is facing resistance at 1.105. If the pair crosses the purple line, it will fly up to 1.1081 (200EMA) and 1.1123 (50SMA). This view is valid until it breaks the 1.1 support levels. On the down side, if the pair breaks the 1.1 levels, the pair will move up to 1.0955 (March 06 low) and 1.0910 (February's low) and 1.08 levels. Until it holds the 1.1 levels, we can see a bit of pullback and bear attack will be possible, once the pair starts trading below 1.1 levels.
In fact, it's not until we get below 1.09 that we could possibly think about shorting this market. It obviously looks very supportive, and as a result, we simply will not sell until we are well below that level. In the meantime, even a pullback from here should be a nice buying opportunity as far as we can say, and with that we are in somewhat of a buy only mode".
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Technical analysis of Silver for April 03, 2014
https://forex-images.instaforex.com/...sd03042014.jpg
Technical outlook and chart setups:
1. Silver finally shows concrete signs of having bottomed out around $19.50 now. Yesterday the metal rallied past the $20.00 levels comfortable. It is expected to continue the rally in coming sessions. The chart view here shows a concrete bullish reversal signal. Recommendations are to remain long for now, risk remains at $19.25.
2. Resistance is at $21.70 (bulls would like to take this out now), followed by $22.30 and $23.00, while support is seen at $19.00, followed by $18.75 and lower respectively.
3.The structure remains constructive for bulls till prices remain above $19.00. $20.20/30 is immediate price target before a pullback.
Trading recommendations:
Remain long for now, set stop at $19.00, target is open.
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Technical analysis of GBP/USD for April 4, 2014
https://forex-images.instaforex.com/...6_gbpusdh1.png
Overview:
It should be noted that the first key level will set at the level of 1.6585 and the second key level will set at the 1.6650 level on April 4, 2014. Also, it should be noticed that the levels are coinciding with the weekly pivot point and the double top respectively. Equally important, the price of GBP/USD pair has still been moving between 1.6570 and 1.6613. Furthermore, the trend has been very clear indicating downward direction. As it is known, sellers are asking for a high price. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.6650 in H1 chart. As a result, sell at the price of 1.6650 with the first target of 1.6585 in order to test the weekly pivot point and it might resume to 1.6520. On the other hand, your stop loss should be placed above the 1.6650, hence it will helpful to set it at the price of 1.6683. Additionally, it should be noted that the range was about 91 pips yesterday.
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Technical analysis of USD/JPY for April 07, 2014
https://forex-images.instaforex.com/...21UJ070414.jpg
In Asia, Japan will release the Leading Indicators and the US will release some economic data such as US-Consumer Credit m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low volatility during the US session.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.77.
Resistance. 2: 103.57.
Resistance. 1: 103.35.
Support. 1: 103.11.
Support. 2: 102.91.
Support. 3: 102.70.
DESCRIPTION:
Please, pay attention to the levels of support 3 (102.70) and resistance 3 (103.77). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
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Technical analysis of USD/CHF for April 08, 2014
https://forex-images.instaforex.com/...SDCHFDaily.png
The pair is in an uptrend at 0.87 levels. The pair made a high at 0.8952 on Friday. Currently, the pair is trading at 0.8876 in an Aisa's trading session. The pair is facing a strong resistance at 0.88788 (50SMA); above this, 0.8928 is a strong resistance level. Below 50SMA, 0.8866 and 0.8853 are the small support levels. Until the pair trades below the 50SMA, it looks weak. RSI is giving a buying signal. The pair is looking for a strong base to change its direction upwards. After a day close above the 0.8878 level, fresh up move will be intact for 0.8928 first and 0.8952. We will see new high (0.90) when the pair closes above the 0.8928 level. On the down side, the levels of 0.8815, 0.8787, and 0.8699 are the support levels.
In the H4 chart, the pair is making a lower low and higher highs formation. Currently, it is looking for support levels. RSI is not favoring longs. The support levels exist at 0.8871 and 0.8859. In case of a break below these levels, it will fall to 0.884, 0.8820, and 0.8785 levels. On the upside, if the pair holds the 0.8871 and 0.8859 levels intradaily, it will fly up to 0.8889 and 0.8930 levels.
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Technical analysis of EUR/USD for April 09, 2014
https://forex-images.instaforex.com/...9/EURUSDH4.png
The pair is in a downtrend from 1.3967 levels. In the H4 chart, the pair came out from the 10-day trading pattern. The pair is doing what the cable is doing. The pair is facing resistance at 1.3810, above that, at 1.3820. The momentum indicators are favoring sell side. For 2 or 3 days perspective, sell on rallies is the best strategy. On the up side, if the pair crosses the 1.3820 levels, it will fly up to 1.3876 levels.
The positional trend will change once the pair closes above the 1.396 levels. On the down side, the pair has strong support at 1.3770, below this, 1.3755 is the strong support. Weakness will persist in this pair when the pair breaks and closes below the 1.3755 level. If it happens, the pair will drift all the way to 1.3673 and 1.3643 levels easily. If the pair closes below 1.3737 (yesterday's low), weakness starts in this pair.
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Technical analysis of USD/JPY for April 10, 2014
https://forex-images.instaforex.com/...21UJ100414.jpg
In Asia, Japan will release the Core Machinery Orders m/m, Bank Lending y/y, Prelim Machine Tool Orders y/y and the US will release some economic data such as Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction, Federal Budget Balance. So there is a big probability the USD/JPY will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.46.
Resistance. 2: 102.26.
Resistance. 1: 102.06.
Support. 1: 101.81.
Support. 2: 101.61.
Support. 3: 101.41.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.41) and resistance 3 (102.46). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
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Technical analysis of USD/JPY for April 11, 2014
https://forex-images.instaforex.com/...21UJ110414.jpg
In Asia, Japan will release the Monetary Policy Meeting Minutes, CGPI y/y, M2 Money Stock y/y, 30-y Bond Auction; the US will release some economic data such as PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian and US sessions.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.10.
Resistance. 2: 101.90.
Resistance. 1: 101.70.
Support. 1: 101.45.
Support. 2: 101.25.
Support. 3: 101.05.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.05) and resistance 3 (102.10). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
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Technical analysis of USD/JPY for April 14, 2014
https://forex-images.instaforex.com/...21UJ140414.jpg
In Asia, Japan will not release any economic data and the US will release some economic data such as Core Retail Sales m/m, Retail Sales m/m, Business Inventories m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.02.
Resistance. 2: 101.82.
Resistance. 1: 101.62.
Support. 1: 101.38.
Support. 2: 101.19.
Support. 3: 100.98.
DESCRIPTION:
Please, pay attention to the levels of support 3 (100.98) and resistance 3 (102.02). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
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Technical analysis of USD for April 15, 2014
https://forex-images.instaforex.com/...usdxweekly.png
USD
The US Dollar Index fell during the course of last week, but remained above the 79 level. The 79 level is of course is supportive, and we believe it is a major inflection point. We feel that this market will go to the 84 level, given enough time in order to see the bulls continuing to take control of a market that they've had a strong presence in. On top of that, you can also make an argument for consolidation between this area and the 81.25 level, as we have seen it in the last six months proved to be relatively tight. With that, we most certainly have an upward bias at this point, but recognize that a breakdown below the 79 level would in fact be very significant. On that move, we would expect this market to drop all the way down to the 77.83 and 75 levels, but it would take some time. The level of 78.60 would of course offer support as well, but it is much more of a minor area than the 79 is, as we continue to see the market bounce from its handle. If we break above the 81.25 level, we can see a new high this year.
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Technical analysis of USD/JPY for April 17, 2014
https://forex-images.instaforex.com/...21UJ170414.jpg
In Asia, Japan is going to report on the Consumer Confidence, and the BOJ Gov Kuroda Speech. The US will release some economic data such as Unemployment Claims, Philly Fed Manufacturing Index, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.58.
Resistance. 2: 102.38.
Resistance. 1: 102.18.
Support. 1: 101.94.
Support. 2: 101.73.
Support. 3: 101.53.
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Technical analysis of USD/JPY for April 21, 2014
https://forex-images.instaforex.com/...21UJ180414.jpg
In Asia, Japan will release the Trade Balance and the US will release some economic data such as CB Leading Index m/m. So there is a big probability the USD/JPY will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.16.
Resistance. 2: 102.96.
Resistance. 1: 102.76.
Support. 1: 102.51.
Support. 2: 102.31.
Support. 3: 102.11.
DESCRIPTION:
Please, pay attention to the levels of support 3 (102.11) and resistance 3 (103.16). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
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Technical analysis of USD/JPY for April 22, 2014
https://forex-images.instaforex.com/...21UJ220414.jpg
In Asia, Japan will not release any economic data, and the US will release some economic data such as HPI m/m, Existing Home Sales, Richmond Manufacturing Index. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with high volatility during the US session.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.17.
Resistance. 2: 102.97.
Resistance. 1: 102.77.
Support. 1: 102.52.
Support. 2: 102.32.
Support. 3: 102.12.
DESCRIPTION:
Please, pay attention to the levels of support 3 (102.12) and resistance 3 (103.17). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it is a sign that these currencies have found trends today.
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Technical analysis of GBP/CHF for April 23, 2014
https://forex-images.instaforex.com/...hf23042014.jpg
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Technical outlook and chart setups:
1. The GBP/CHF pair seems to be in its last leg of rally that begun from sub 1.4450 levels. Implications are that the pair may reverse/retrace from current levels (1.4900/1.4880) or from 1.4960. As seen here, the 1.4600/50 levels remain of particular interest to initiate long positions again.
2. Support starts from 1.4630/40 (intermediary), followed by 1.4450/1.4350, 1.4200 and lower while resistance is at 1.4950/60, followed by 1.5120 respectively.
3. The structure indicates that GBP/CHF would remain a buy on dips till prices stay above 1.4450/1.4500 levels.
Trading recommendations:
Look to buy lower around 1.4600 on a pullback and bullish bounce.
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Technical analysis of USD/JPY for April 24, 2014
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In Asia, Japan will release the CSPI y/y and the US will release some economic data such as Core Durable Goods Orders m/m, Unemployment Claims, Natural Gas Storage, Durable Goods Orders m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.99.
Resistance. 2: 102.79.
Resistance. 1: 102.59.
Support. 1: 102.34.
Support. 2: 102.13.
Support. 3: 101.93.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.93) and resistance 3 (102.99). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
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Technical analysis of GBP/CHF for April 28, 2014
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Technical outlook and chart setups:
1. The GBP/CHF pair is trading close to the 1.4800 levels for now.The minimum level of interest to initiate fresh long positions is around 1.4730/50, which is the 0.382 fibonacci retracement of the entire rally from 1.4450 to 1.4900. Recommendations are to remain flat for now and watch for lower levels.
2. Support is at 1.4630, followed by 1.4525, 1.4450, 1.4350 and lower while resistance is at 1.4950 and 1.5120 respectively.
3. The structure indicates that GBP/CHF retracement/pullback could continue till 1.4750 levels. Bulls may regain control from there on to push higher towards 1.4950 levels. On the flip side, a break of 1.4630 would indicate further bearishness.
Trading recommendations:
Remain flat for now.
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Technical analysis of Silver for April 29, 2014
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Technical outlook and chart setups:
1. Silver is trading around $19.50/60 levels for now having formed lows at $18.90 last week. It needs to break $20.40 levels though before it can be confirmed that the metal has turned bullish. Recommendations are to remain flat for now.
2. Support is at $18.90, followed by $18.75, and $18.00 while resistance is at $20.40, $21.70, $22.30, and higher respectively.
3. The structure indicates that Silver remains cautiously bullish for now. A break of $20.40 would confirm the reversal.
Trading recommendations:
Remain flat for now.
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Technical analysis of Gold for April 30, 2014
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Technical outlook and chart setups:
1. Gold is seen to be pulling back from the intermediary resistance line passing around $1,300.00 levels for now. A drop below $1,270.00 would drag prices towards $1,230.00/40.00. Meanwhile, a break higher should take it higher towards $1,330.00. At the moment, recommendations are to remain flat.
2. Support is seen at $1,270.00, followed by $1,230.00/40.00, $1,210.00 and lower, while resistance is seen at $1,330.00, followed by $1,388.00 and higher respectively.
3. The structure indicates that Gold needs to push through $1,330.00 levels to confirm that bulls are to remain in control.
Trading recommendations:
Remain flat for now. Or long 50%, with stop at $1,230.00/40.00 (aggressive setup).
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Technical analysis of EUR/JPY for May 05, 2014
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Technical outlook and chart setups:
1. The EUR/JPY pair is bouncing off the channel support and resistance at the moment, broadly between 141.40/50 to 142.50/60 for now. The pair is again at the support near 141.50 levels. A break here would be encouraging for bears and a subsequent break below 140.00 would confirm bearish resumption. Recommendations are to sell on the break of channel support.
2. Support is at 141.00, followed by 140.00, 138.50, 136.00 and lower while resistance is at 142.50, followed by 143.50/144.00 and 145.50 on the higher side.
3. The structure indicates that EUR/JPY bears would want to break 141.00 levels for now. On the flip side, a bullish bounce here again, would enable prices to re-test 142.50.
Trade recommendations:
Remain flat for now. Sell on a break of the channel line support.
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Technical analysis of EUR/USD for May 06, 2014
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EUR/USD
The pair has been in an uptrend from 1.3774 levels. It is facing strong resistance at every higher level. Currently the pair is facing strong resistance at 1.3906 levels. It is the key level for bulls and bears. Until the pair breaks the 1.3906 levels, the pair will move to 1.36. Last week's low at 1.3774 is the very crucial for further up move. Until the pair holds 1.3774, there is a remote chance for 1.3950 and 1.40 levels. The weakness persists only below 1.3774. In Asia's trading session, the pair is trading at 1.3876 levels. On the higher side, if the pair crosses 1.3880, it will fly up to 1.3906, 1.3920 and 1.3950 levels. On the higher levels, selling is the best option. On the down side, intraday weakness exists below 1.3864. It will fall to the immediate major support at 1.3850 levels. The major weakness is on the cards below this, fall to 1.3812 and 1.3774 levels. We expect the selling pressure will intensify in coming sessions. Recommendations- 1. Sell below 1.3864 with targets 1.3850, 1.38 and 1.3774.
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Technical analysis of gold for May 07, 2014
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Today the metal traders eye Yellen's appearance before the Joint Economic Committee. She'll also speak before the Senate Budget Committee on Thursday. The market participants talk about when the Fed will start lifting interest rates, and how high the rates will go once it starts happening.
Technical view-
The metal is trading in a range bound between $1,316-$1,305 levels. It is facing strong resistance at $1,316 (50daily SMA). Safe traders can buy above $1,316 for targets $1,319, $1,322 and $1,330. On the down side the key level is located at $1,305, below this only the metal looks bearish up to $1,300, $1,295. On the weekly chart, the metal is facing strong resistance at the 38.2 fib level. Once the metal breaks this, huge buying will add to the metal aiming at $1,330.
For intraday the metal has strong support at $1,302 levels, a break below this $1,297.50 is a strong support level. The hourly momentum indicators show a mixed bag. RSI is giving a sell signal and Stochastics is giving an up move indication. On the upside, the metal will face resistance at $1,313.70 and $1,316 levels.
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Technical analysis of Silver for May 08, 2014
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Technical outlook and chart setups: 1. Silver has retraced as expected from sub $20.00 levels yesterday. The metal is bouncing off the backside of resistance turned support line as seen here around $19.20/25 levels. Furthermore, the fibonacci 0.618 support is passing around the same levels. Recommendations are to initiate long positions now, risk remains below $18.50 levels.
2. Support is at $18.90, followed by $18.75 and lower while resistance is at $19.90/20.00 levels, followed by $20.40, $21.70 and $22.30 respectively.
3. The structure indicates that Silver could stage an impressive rally from current levels till prices stay above $18.80/90 levels.
Trading recommendations:
Initiate long positions now, stop at $18.40, target is open.
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Technical analysis of USD/JPY for May 9, 2014
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In Asia, Japan will release the Leading Indicators and the US will release some economic data such as JOLTS Job Openings, Wholesale Inventories m/m. So there is a big probability the USD/JPY will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.20.
Resistance. 2: 102.00.
Resistance. 1: 101.80.
Support. 1: 101.56.
Support. 2: 101.36.
Support. 3: 101.16.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.16) and resistance 3 (102.20). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
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USD/CAD intraday technical levels and trading recommendations for May 9, 2014
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The chart shows that the USD/CAD bulls failed to show enough momentum above 1.1200 during the last visit on March 20. The bears took an advantage and pushed the pair towards the price zone of 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart). Although previous daily closure below 1.0920 took place, it didn't take long time to get a bullish engulfing daily candlestick as a bullish reaction the next day pushed the pair again towards 1.1000. On the other hand, on the 4H chart, the price zone of 1.0995-1.1045 (38.2% Fibonacci of the most recent bearish swing) was expected to provide a valid sell entry and it did. The previously suggested bearish position taken at 1.0995 achieved its full projection target by hitting 61.8% Fibonacci level around 1.0830. As expected, price zone of 1.0875-1.0830 (extending down to 61.8% Fibonacci level on the daily chart ) provided significant bullish pressure strong enough to invalidate our SELL position. The market is now expressing a bullish pull-back towards 1.0940-1.0950 and probably 1.0980 where 38.2% Fibonacci level is located on the 4H chart. Bearish positions can be taken again at the price zone of 1.0940-1.0950. It's the most recent resistance zone that comes to meet the pair. The pair will probably establish a sideway consolidation zone. Bearish targets are to be located at 1.0865 initially. SL should be located slightly above 1.1000.
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