Technical analysis on EU,GU and majors

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Technical analysis of Gold for July 29, 2014

Show full picture Technical outlook and chart setups:
1. Gold is expected to face resistance around $1,312.00 region and continue moving lower from there on. The metal has still not retraced completely, and is still expected to reach $1,280.00 levels; before rallying further towards the larger trend. Recommendations are to buy on dips.
2. Support is seen at $1,280.00 (fibonacci), followed by $1,260.00, $1,240.00 and lower while resistance is seen at $1,350.00, followed by $1,388.00 and higher respectively.
3. The structure indicates that Gold remains buy on dips and the levels of interest is $1,280.00.
Trading recommendations:
Remain flat for now. Look to buy around $1,280.00. Good luck!

Performed by Harsh Japee, Analytical expert
InstaForex Group © 2007-2014

 

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Daily analysis of Silver for July 29, 2014

Overview From today's H4 chart we see that the metal is still trading between the support level of 20.50 and below the resistance level of 20.70. Silver failed to break the resistance level yesterday and bounced from it. It took a slightly downward move. Currently, it is retesting the support level of 20.50 again. Presently, we suggest waiting for closing above the resistance level of 20.70 in case it bounces from the support level to give us a new opportunity for more buy signals with the first target of few pips below the resistance level of 21.00. After breaking this resistance level, silver would open the way towards the Resistance level of 21.20, which means more bullish signals.
Resistance and support levels: R3(21.00), R2 (20.70), R1 (20.50), S1 (20.20), S2 (20.00), S3 (19.75).

Performed by Hossam Soliman Ali, Analytical expert
InstaForex Group © 2007-2014

 

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Technical analysis of EUR/USD for July 30, 2014

Technical outlook and chart setups:
1. The EUR/USD pair is moving towards its lower end initial targets of 1.33 and 1.32 at the moment. Intraday pullback/rallies are possible towards 1.3510/20 before the lower ends are met. Recommendations are to initiate short positions around 1.3510/20 levels.
2. Support is seen at 1.3380, followed by 1.33 and lower while resistance is seen at 1.3510/20, followed by 1.3580/1.3600 and higher respectively.
3. The structure indicates that EUR/USD has resumed its long-term down trend and rallies should be sold into.
Trading recommendations:
Selling rallies into 1.3510/20 is preferable.
Good luck!

Performed by Harsh Japee, Analytical expert
InstaForex Group © 2007-2014

 

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GBP/USD intraday technical levels and trading recommendations for July 30, 2014

Bullish breakout above the DAILY bearish channel took place exposing the price levels around 1.6985, 1.6900, and 1.7000 as projection targets.
Bullish pressure was once applied as a trial to break through the upper limit of the 4H movement channel. However, lack of follow-through existed as bullish pressure being applied was not enough to ensure success of the bullish breakout.
On the other hand, Intraday resistance was established around 1.7150-1.7190. A short-term SELL position was suggested in the previous articles with SL located just above 1.7190.
The price levels of 1.7050 and 1.7000 failed to provide enough support for the pair. Hence, the bears had potential bearish target around 1.6970 then 1.6920 which is being approached today.
DAILY Fixation below 1.6980-1.7000 applied intensive bearish pressure on the price zone of 1.6920-1.6900 leading to its breakdown.
Price levels around 1.6820 remains the nearest support level to meet the pair as it corresponds to the previous significant top established in February 2014.
Price action should be watched around 1.6820 to consider the next destination of the GBP/USD pair.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of Gold for July 30, 2014

Technical outlook and chart setups:
1. Gold has pulled back sharply towards intermediate support levels around the $1,295.00 levels yesterday. It looks like there is still upside left before the metal could fall back towards the $1,280.00 support levels. Recommendations are to initiate long positions, risk remains at $1,293.00.
2. Support is seen at $1,280.00, followed by $1,260.00, $1,240.00/30 and lower while resistance is seen around $1,330.00/40, followed by $1,350.00/60.00 and higher up respectively.
3. The structure indicates that Gold could possibly rally into the $1,323.00/27.00 region before pulling back.
Trading recommendations:
Initiate longs, stop at $1,293.50, target $1,323.50.
Good luck!

Performed by Harsh Japee, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of Silver for July 30, 2014

Technical outlook and chart setups:
1. Silver has fallen back into the support region around the $20.40 levels yesterday. The metal may be preparing for an other run towards the $21.20 region before retracing further low. Recommendations are to initiate long positions, risk remains just below $20.40.
2. Support is seen around $20.00, followed by $19.50/60 and lower while resistance is seen at $21.50/70, followed by $22.30 and higher up respectively.
3. The structure indicates that Silver is preparing to extend rally at least into $21.20 levels for now.
Trading recommendations:
Initiate long positions, stop at $20.20, target is open.
Good luck!

Performed by Harsh Japee, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for July 31, 2014

Technical outlook and chart setups:
1. The EUR/USD 4H chart view is showing bullish divergence for now, indicating that the pair may pullback towards at least 1.3480 levels before drifting lower. It is pretty much clear that the pair has resumed its over all bearish trend.
2. Support is seen at 1.33 followed by 1.32 (fibonacci supports) and lower while resistance is seen at 1.3480 (fibonacci 0.382), followed by 1.3540 and higher respectively.
3. The structure indicates that EUR/USD is potentially a sell on rallies pair. Levels of interest are 1.3480 and 1.3540.
Trading recommendations: Remain flat for now, look to sell higher up. Aggressive setup would be to initiate long positions, stop below 1.3350, target is 1.3480.
Good luck!

Performed by Harsh Japee, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of GBP/USD for July 31, 2014

The correction is going on, the pair fell below the 1.69 levels, but held the support at the 61.8 fib level. The pair recovered quickly from the 61.8 fib level and is trading above 1.69 levels. The pair is facing the initial strong resistance at 1.6923 (previous parallel low), above this, 1.6945 (50.0 fib level), 1.6975 (50DSma) and 1.70. In the daily chart, the daily momentum oscillators are indicating an oversold level.
Intraweek
Support 1.6880 1.6850 1.6792
Resistance 1.6923 1.6945 1.70
Until the pair closes below the 1.70 level, selling on a rise is the best strategy. On the down side, if the pair hits the 61.8 fib level, it can extend its fall up to 1.6845 (June 06, 2014) and 1.6785 (80 fib level).

Performed by Joseph Wind, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of Gold for July 31, 2014

Technical outlook and chart setups:
1. Gold has printed lows below $1,293.00 yesterday stopping the long positions initiated. The metal could still stage an aggressive counter trend rally towards $1,323.00 levels before falling back towards $1,280.00. In any case, the metal remains a buy on dip strategy.
2. Support is seen at $1,287.00 (interim), followed by $1,280, $1,260.00 and lower while resistance is seen at $1,340.00/50, followed by $1,388.00 and higher respectively.
3. The structure indicates that Gold remains buy on dips and levels of interest is $1,280.00.
Trading recommendations:
Initiate 50% long positions now, stop below $1,280.00, target is open.
Good luck!

Performed by Harsh Japee, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of Silver for July 31, 2014

Technical outlook and chart setups:
1. Silver is holding $20.40 levels for now, and probabilities are ripe for a rally into $21.00/10 before retracing further towards $19.90/$20.00 levels. The metal is just in a counter trend, and very much remains a buy on dips.
2. Support is seen at sub $20.00 levels (interim), followed by $19.60, $18.60 and lower while resistance is seen at $21.50/70, followed by $22.30 and higher respectively.
3. The structure indicates that silver remains buy on dips towards sub $20.00 levels. Trading recommendations:
Hold on to long positions, stop at $20.10/20, target is $21.00.
Good luck!

Performed by Harsh Japee, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for August 1, 2014

Trading recommendations:
The support of the EUR/USD pair has already set at 1.3330 on August 14, 2014. Furthermore, it will be very profitable to buy above this level for retesting this level in the short term. Therefore, buy deals are recommended above the weekly support with targets at 1.3433 (the level of 1.3838 is representing the daily pivot point) and 1.3460 to reach the double top. On the contrary, the resistance is going to set at the level of 1.3460 today. Consequently, the descending movement will probably be lower than the 1.3460 level with the targets at 1.3333 and it is going to drop towards the double bottom around the price of 1.3295 in the daily chart.

It should note the following important observations:
The market is going to call for a downtrend.
The double top will set at the level of 1.3460.
The minor support is going to set at 1.3333.
The major support has already set at the price of 1.3303. But the double bottom does not coincide with the major support because it has set at the 1.325 price.
The price hit the weekly pivot point this week and the first support. Currently, it has been around it since April 14, because of the series of relatively equal highs and equal lows.
We expect a range about 68 pips today.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of GBP/USD for August 1, 2014

Overview:
The price of the GBP/USD pair has been not stable because the trend has been moving downwards from the price of 1.6940 in H4 chart. Additionally, the pair is going to be trapped between 1.6940 and 1.6851. Furthermore, it should be noted that the resistance has already set at the price of 1.6940 and the support is placed at 1.6851 (minor support on August 1, 2014). As a result, the GBP/USD pair is likely to start showing the signs of the bearish market at the level of 1.6940 because the market will indicate a bearish opportunity at the spot of 1.6940, so the level will be acting as strong resistance today. In other words, it will be a good decision to sell below the price of 1.6940 with the first target of 1.6850 in order to try to close below the weekly pivot point. It will call for the downtrend to continue its bearish movement towards 1.6821 to forming the strong support in H4 chart. On the other hand, the stop loss should be placed above 1.6966.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Gold Technical analysis for August 1, 2014

The Gold price is currently trading below the previous low at $1,287.50. The trend is down as the price is making lower lows and lower highs. In our previous analysis, I mentioned how important it was for bulls to hold above $1,287.50 and break above $1,313 in order to move towards $1,325-50. On the other hand, our preferred bearish scenario would be confirmed if the price broke below $1,287.5. This is what happened and our bearish scenario remains strong.

The daily chart is not good for bulls either. The Gold price after a long time has broken below the Ichimoku cloud and this is a sign of further weakness. Our preferred scenario for some time now has been the one where wave E of wave 4 was complete at $1,346 and a new downward move has started with $1,000 as the first target. A break below the upward sloping red trend line at $1,260-70 will increase the chances of this bearish scenario.

Performed by Alexandros Yfantis, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Weekly technical levels of EUR/USD for August 4-8, 2014

Forecast and review:
The double top of EUR/USD pair will set at the level of 1.3443 and the double bottom is going to be set at the 1.3365 level. It should be noted that the last range was very small around 80 pips only. But we expect a range of 170 - 200 pips this week.
The price had only hit support 1 last week.
The major support is going to set at 1.3380 on August 4, 2014. And the resistance had already set at the price of 1.3464.
So, according to the previous events, the price of the EUR/USD pair is going to move between 1.3380 and 1.3443.
The level of 1.3412 is representing the weekly pivot point. Therefore, it will be very useful to buy above the price of 1.3412 in the short term with the first target at 1.3440. Moreover, if the trend is able to break the double top at 1.3443, then it might resume to 1.3464.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Weekly technical levels of GBP/USD for August 4-8, 2014

Forecast: According to the previous events, the price of the GBP/USD pair has still been moving between 1.6805 and 1.6880. The level of 1.6878 represents the weekly pivot point. It should be noted that the weekly pivot point coincides with the ratio of 38.2% Fibonacci retracement levels. So, sell below 1.6878 in the short term with the first target of 1.6812 in order to test the double bottom, it might resume to 1.6756 (support 1) if the trend will be able to break the double bottom at 1.6812. The stop loss should never exceed your maximum exposure amounts. Thus, it will be rather profitable to set your stop loss at the level of 1.6905.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Gold analysis for August 04, 2014

Overview: Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,280.21 in a volume just above the average according to the daily timeframe. As you can see from the chart, our Fibonacci retracement 61.8% completed successfully, so selling at this stage looks risky. I have placed Fibonacci expansion to find potential support levels and I got Fibonacci expansion 100% at the price of 1,272.00. If the price breaks the level of 1,281.00 (our Fibonacci retracement 61.8%), we may see more downward movement. Anyway, we can observe strong demand and buying climax according to the 4H timeframe, which is a sign that selling looks risky at this stage.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,295.33 R2: 1,295.63 R3: 1,296.13
Support levels: S1: 1,294.33 S2: 1,294.03 S3: 1,293.53
Trading recommendations: Be careful with selling Gold at this stage since Fibonacci retracement 61.8% is on the test.

Performed by Petar Jacimovic, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Daily analysis of Silver for August 04, 2014

Overview In the today's H4 chart, silver is still stabilizing above the Support level of 20.20 after it could not break it last week. Currently, it is bouncing from it towards the Resistance level of 20.50. So, we still suggest waiting for closing above the next Resistance level in case of bouncing from the Support level to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 20.70. After breaking this Resistance level, silver would open the way towards the Resistance level of 21.00, which means more bullish signals, but as long as the metal trades below the Resistance level of 20.50, this cancels the bullish scenario.
Resistance and support levels: R3 (21.00), R2 (20.70), R1 (20.50), S1 (20.20), S2 (20.00), S3(19.75)

Performed by Hossam Soliman Ali, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for August 05, 2014

When the European market opens, some economic news will be released such as Spanish Services PMI, Spanish Services PMI, Italian Services PMI, Final Services PMI, Retail Sales m/m. The US will release economic data too such as the Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders m/m, IBD/TIPP Economic Optimism, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3485.
Strong Resistance:1.3477.
Original Resistance: 1.3464.
Inner Sell Area: 1.3451.
Target Inner Area: 1.3419.
Inner Buy Area: 1.3387.
Original Support: 1.3374.
Strong Support: 1.3361.
Breakout SELL Level: 1.3353.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of GBP/USD for August 5, 2014

Trading recommendations: As it is known, sellers are asking for a higher price as well as buyers are bidding at a lower price. Therefore, the first key level will set at the level of 1.6880 and the second key level will set at the 1.6866 level today. Moreover, it should be noted that the level of 1.6930 represents resistance and the 1.6766 level is going to act as support in H1 chart. Equally important, the price of the GBP/USD pair has still been moving between 1.6905 and 1.6835. Additionally, it should be noted that the range was about 178 pips last week. Furthermore, the trend was very clear indicating a downward bias. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.6878 (the weekly pivot point). As a result, sell at the price of 1.6880 with the first target of 1.6812 (the double bottom) which might resume to 1.6756 in order to test weekly support 1. On the other hand, your stop loss should be placed above the 1.6950 level, hence it will be helpful to set it at the price of 1.6980 this week.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Gold analysis for August 05, 2014

Overview: Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of 1,293.00 in a volume below average according to the 4H timeframe. As you can see from the chart, our Fibonacci retracement 61.8% completed successfully, so selling at this stage looks risky. I have placed Fibonacci expansion to find potential resistance levels and I got Fibonacci expansion 61.8% at the price of 1,296.00, Fibonacci expansion 100% at the price of 1,302.00 and Fibonacci expansion 161.8% at the price of 1,312.00. Anyway, if the price breaks the level of 1,281.00 (our Fibonacci retracement 61.8%), we may see more downward movement. Be careful with selling Gold at this stage.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,294.36 R2: 1,296.58 R3: 1,300.70
Support levels: S1: 1,287.18 S2: 1,284.96 S3: 1,281.37
Trading recommendations: Be careful with selling Gold at this stage since we got successful bounce from Fibonacci retracement 61.8%


Performed by Petar Jacimovic, Analytical expert
InstaForex Group © 2007-2014