Technical analysis on EU,GU and majors

[bhanu545]

Gold analysis for August 12, 2014

Overview: Since our last analysis, gold has been trading sideways, around the price of 1,310.00. We are still waiting larger movmeent and larger volume (activity). According to the 4H timeframe, we can observe weak demand on the market, which is a sign that buying looks risky. We can also observe rejection from our Fibonacci retracement 61.8% at the price of 1,320.00. Anyway, if the price breaks the level of 1,321.00 in a higher volume, we may see testing the level of 1,343.00.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,312.41 R2: 1,313.95 R3: 1,316.43
Support levels: S1: 1,307.45 S2: 1,305.91 S3: 1,303.43
Trading recommendations:
Buying Gold looks risky since we got successful rejection from our Fibonacci retracement 61.8%.

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

 

[bhanu545]

Technical analysis of Silver for August 12, 2014

Technical outlook and chart setups:
1. Silver might be preparing to drift lower again towards $19.60/70 levels, before rallying further up into the $20.50 and $20.90 region. Please note that the metal has bounced off the 0.618 fibonacci support (rally between $18.60 and $21.60) around $19.70 on the daily chart.
2. Support is seen at $19.70 (interim), followed by $19.40, $19.00 and lower while resistance is at $21.70, followed by $22.30 and higher respectively.
3. The structure indicates that Silver might push lower for final test before rallying further up towards $21.70 and higher.
Trading recommendations:
Remain long and also look to add lower.
Good luck!

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

 

[bhanu545]

Technical analysis of EUR/USD for August 13, 2014

When the European market opens, some economic news will be released such as German Final CPI m/m, German WPI m/m, French CPI m/m, Industrial Production m/m, German 10-y Bond Auction. The US will release the economic data too such as the Core Retail Sales m/m, Retail Sales m/m, Business Inventories m/m, Crude Oil Inventories, 10-y Bond Auction, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3430.
Strong Resistance:1.3422.
Original Resistance: 1.3409.
Inner Sell Area: 1.3396.
Target Inner Area: 1.3364.
Inner Buy Area: 1.3332.
Original Support: 1.3319.
Strong Support: 1.3306.
Breakout SELL Level: 1.3298.

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

 

[bhanu545]

Technical analysis of GBP/USD for August 13, 2014

Overview: The price of the GBP/USD pair has opened below the weekly pivot point (1.6809). Additionally, it should be noted that the double top is going to set at 1.6813 in H1 chart; the market was in a downtrend two weeks ago. Also, we should be aware that the resistance has set at the price of 1.6813 today. Therefore, the market will probably indicate a bearish opportunity at the level of 1.6809 in the long term. Also, the weekly pivot point will act as strong resistance on August 13, 2014 because support becomes resistance after breaking it yesterday. So, according to the previous events, the price is still moving between the levels of 1.6810 and 1.6725. Thus, the area below 1.6809 (below the weekly pivot point) looks for further downside with the first target at the 1.6730 level in order to form a new double top and continue towards 1.6691 to test support in H1 chart. The level of 1.6691 coincides with the ratio of 161.8% Fibonacci retracement levels. Notwithstanding, the stop loss should be placed at the price of 1.6833.

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

 

[bhanu545]

Gold analysis for August 13, 2014

Overview: Since our last analysis, gold has been trading sideways, around the price of 1,310.00. We are still waiting for larger movement and larger volume (activity). According to the Daily time frame, we can observe shooting star candle and successful rejection from Fibonacci retracement 61.8%, which is a sign that buying looks risky. Anyway, if the price breaks the level of 1,321.00 in a higher volume, we may see the level of 1,343.00 is being tested. My advice is to watch for selling opportunities after retracement. According to the 4H time frame, we can observe that strong supply in a high volume has entered on the the maket.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,317.01 R2: 1,319.95 R3: 1,324.73
Support levels: S1: 1,307.45 S2: 1,304.51 S3: 1,299.73
Trading recommendations: Buying Gold looks risky since we got successful rejection from our Fibonacci retracement 61.8%.

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

 

[bhanu545]

Technical analysis of USD/CHF for August 13, 2014

Overview: USD/CHF is expected to trade in a lower range after hitting a three-day high at 0.9104 on Tuesday. It is supported by the broadly firmer dollar undertone, dovish Swiss National Bank's monetary policy, and franc sales on soft CHF/JPY cross. But USD/CHF gains are tempered by the franc demand on soft EUR/CHF cross.The daily chart is mixed as MACD and stochastics is in a bearish mode, but five-day moving average is fkluctuating sideways above advancing 15-day MA.
Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.9030. A break of this target will move the pair further downwards to 0.9. The pivot point stands at 0.9090. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.9115 and the second target at 0.9135.
Resistance levels: 0.9115 0.9135 0.9155
Support levels: 0.9030 0.900 0.8975

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for August 14, 2014

Overview: Due to the previous events, the price of EUR/USD pair has still been between the levels of 1.3420 and 1.3366. Therefore, it is recommended to be careful while making deals inside this area. Also, it should be noted that the market showed the signs of instability. The trend movement was controversial as it took place in the narrow sideways channel (the range will be from the level of 1.3440 and the 1.3333 level). Therefore, it is necessary to wait till the sideways channel is passed through. Then the market will probably show the signs of a bullish trend because the support has already set at the level of 1.3333. In other words, buy deals are recommended above the 1.3333 level with the first target at the level of 1.3390 to test the daily pivot point. From this point, the pair is likely to begin an ascending movement to the point of 1.3405 and further to the level of 1.3440. The level of 1.3440 will act as a strong resistance on August 14, 2014. Furthermore, it should be noted that the double top will set at the price of 1.3443. Nevertheless, if the pair fails to pass through the level of 1.3445, the market will indicate a bearish opportunity below the strong resistance level of 1.3440. In this regard, sell deals are recommended lower than the 1.3440 level in the long term with the first target at 1.3377. The pair is likely to turn downwards continuing the development of the bearish trend to the level 1.3340.

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

 

[bhanu545]

Technical analysis of GBP/USD for August 14, 2014

Overview: The first key level will set at the price of 1.6730 and the second key level will set at the 1.6771 level today. Also, it should be noted that both levels represent the weekly resistance 1 and resistance 2 respectively. Equally important, the weekly pivot point sets at the price of 1.6809. Moreover, the price of the GBP/USD pair has still been moving between 1.6657 and 1.6730. Additionally, it should be mentioned that the range will be about 58 pips today. As a further matter, the trend is very clear and indicating upward move. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.6730. As a result, buy at the price of 1.6730 with the target of 1.6657 in order to test the double bottom in H4. On the other hand, your stop loss should be placed above the weekly pivot point which sets at the 1.6809 level. Thus, it will helpful to set it at the price of 1.6833 this week.

Intraday technical levels:
Date:14/08/2014 Pair: GBP/USD
R3: 1.6946 R2: 1.6880 R1: 1.6826 PP: 1.6760
S1: 1.6706 S2: 1.6640 S3: 1.6586

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

 

[bhanu545]

Technical analysis of USD/JPY for August 14, 2014

Overview: USD/JPY is expected to consolidate with a bullish bias after hitting a one-week high at 102.55 on Wednesday. USD/JPY is underpinned by the yen-funded carry trades amid positive investor risk appetite (VIX fear gauge eased 8.7% to 12.9; S&P 500 rose 0.67% to close at 1,946.72 overnight) as expectations of continued ultra-loose monetary policies from major central banks offset weak economic data and ongoing concerns over turbulence in the Middle East and Ukraine. USD/JPY is also supported by the demand from Japanese importers and bigger-than-expected 0.4% increase in U.S. June business inventories (versus forecast +0.3%); broadly firmer USD undertone (ICE spot dollar index last 81.60 versus 81.52 early Wednesday). But USD/JPY gains are tempered by Japanese export sales and disappointing U.S. July retail sales data (came in flat as the weakest print in six months, versus forecast +0.2%)--reinforced speculation that the Federal Reserve won't rush to raise interest rates; lower U.S. Treasury yields (10-year yield last 2.420% versus 2.442% late Tuesday).
Technical comment:
The daily chart is mixed as stochastics is neutral, MACD is still in a bullish mode.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 102.75 and the second target at 103. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 101.95. A break of this target would push the pair further downwards and one may expect the second target at 101.65.
The pivot point is at 102.15.
Resistance levels: 102.75 103 103.25
Support levels: 101.95 101.65 101.40

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Daily analysis of GBP/USD for August 15, 2014

H1 chart: The GBP/USD is trying to form a bearish pattern below the resistance level of 1.6700, so this pair could fall to the support level of 1.6629. If the GBP/USD manages to make a breakout at that level, it would be expected to fall to the level of 1.6578. The MACD indicator is in neutral territory and entering oversold area.

Trading recommendations for today:
Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.6629, take profit is at 1.6578, and stop loss is at 1.6682.

Performed by Felipe Erazo, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of USD/CHF for August 15, 2014

Overview:
USD/CHF is expected to trade in a range. The CHF sentiment is dented by the 1.3% on-year drop in Switzerland July import price index and 0.6% on-year decline in July PPI. USD/CHF is also supported by the dovish Swiss National Bank's monetary policy. But USD/CHF upside is limited by the franc demand on buoyant CHF/JPY cross and on soft EUR/CHF cross and positions adjustment before the weekend. The daily chart is tilting negative as five-day moving average is falling below 15-day MA; MACD and stochastics are bearish.
Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.9040. A break of this target will move the pair further downwards to 0.9020. The pivot point stands at 0.9085. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.91 and the second target at 0.9115.
Resistance levels: 0.91 0.9115 0.9135
Support levels: 0.9040 0.9020 0.900

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of USD/JPY for August 15, 2014

Overview: USD/JPY is expected to consolidate after hitting a seven-day high at 102.66 on Thursday. It is underpinned by the yen-funded carry trades amid positive risk sentiment (VIX fear gauge eased 3.72% to 12.42; S&P 500 rose 0.43% to close at 1,955.18 overnight) as geopolitical concerns over Ukraine waned. Besides, global yields fell as investors bet that major central banks will keep stimulus measures for longer after the recent batch of weak economic data from advanced economies. USD/JPY is also supported by the demand from Japanese importers. But the USD sentiment is dented by the more-than-expected 311,000 U.S. jobless claims in the week ended August 9 (versus forecast 295,000). USD/JPY upside move is also limited by Japanese export sales and lower U.S. Treasury yields (10-year last at 2.403 versus 2.420 late Wednesday) as well as positions adjustment before the weekend. Data focus:
1230 GMT U.S. July PPI (forecast +0.2%), August Empire State manufacturing survey (forecast 20.0)
1300 GMT U.S. June Treasury international capital data
1315 GMT U.S. July industrial production (forecast +0.2%) & capacity utilization (forecast 79.1%)
1355 GMT University of Michigan preliminary U.S. August survey of consumers (forecast 82.0)
1445 GMT Fed's Narayana Kocherlakota speech.
Technical comment:
The daily chart is positive-biased as MACD and stochastics are bullish.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 102.75 and the second target at 103. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 101.95. A break of this target would push the pair further downwards and one may expect the second target at 101.65.
The pivot point is at 102.15.
Resistance levels: 102.75 103 103.25
Support levels: 101.95 101.65 101.40

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Gold analysis for August 15, 2014

Overview: Since our last analysis, gold has been trading sideways. We are facing a very quiet day and very low activity. We are still waiting for larger movement and larger volume (activity). According to the Daily time frame, we can observe another weak demand candle and successful rejection from our Fibonacci retracement 61.8%, which is a sign that buying looks risky. Anyway, if the price breaks the level of 1,321.00 in a higher volume, we may see the level of 1,343.00 is being tested. My advice is to watch for selling opportunities after retracement. I have placed Fibonacci expansion from most recent ABC swings and I got Fibonacci expansion 100% at the price of 1,318.00. According to the 4H timeframe, we can observe indecision candle in an ultra high volume.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,320.34 R2: 1,323.12 R3: 1,327.63
Support levels: S1: 1,311.33 S2: 1,308.54 S3: 1,304.03
Trading recommendations:
Buying Gold looks risky since we got successful rejection from our Fibonacci retracement 61.8%.

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

 

[bhanu545]

Technical analysis of EUR/USD for Aug 18, 2014

Technical outlook and chart setups:
1. The EUR/USD pair has been drifting sideways for a few days, in an increasing support constant resistance format. The 1.3330/50 region has been supported and the 1.3400/10 region has been resistance. A push higher than 1.3400 would be required to move towards 1.3470/80 levels. On the flip side, a break below 1.3300 would reach the 1.3200 levels before pulling back.
2. Support is seen at 1.3330 (interim), followed by 1.3200 and lower, while resistance is seen at 1.3400 (interim), followed by 1.3450, 1.3550 and higher respectively.
3. The structure indicates that EUR/USD is in a range for now. The pair could form another low and then rally producing a counter trend.
Trading recommendations: Remain flat for now. Good luck!

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

 

[bhanu545]

Weekly technical levels of GBP/USD for August 18-22, 2014

Review:
The key level will set at the level of 1.6725. Also, it should be noted that the level of 1.6725 represents the weekly pivot point.
The support of the GBP/USD pair has already set at 1.6622.
Moreover, the weekly support 1 will set at the same level. If the trend fails to close below the level of 1.6622, it will be a good opportunity to buy above 1.6650 with the first target at 1.6722, then it will be continued straight towards 1.6793 in the coming days.
The price of 1.6793 represents the weekly resistance 1 and 1.6828 is going to form a double top in H1 chart.
So, we expect a new range about 160 - 180 pips this week.

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

 

[bhanu545]

Technical analysis of USD/CHF for August 18, 2014

Overview:
USD/CHF is expected to trade in a higher range. It is undermined by the weaker dollar sentiment, flow to haven CHF on fears of the escalating Russia-Ukraine conflict and franc demand on soft EUR/CHF cross. But USD/CHF losses are tempered by the dovish Swiss National Bank's monetary policy. The daily chart is negative-biased as MACD and stochastics are bearish, five-day moving average is below 15-day MA and is declining.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.91 and the second target at 0.9115. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9015. A break of this target would push the pair further downwards and one may expect the second target at 0.8990. The pivot point is at 0.9040.
Resistance levels: 0.91 0.9115 0.9135
Support levels: 0.9015 0.8990 0.8975

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

 

[bhanu545]

Gold analysis for August 18, 2014

Overview:
Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,292.37 in an ultra high volume according to the 4H timeframe. According to the daily time frame, we can observe strong supply in the background and successful rejection from our Fibonacci retracement 61.8%, which is a sign that buying looks risky. My advice is to watch for selling opportunities after retracement. I have placed Fibonacci expansion from most recent ABC swings and I got Fibonacci expansion 61.8% at the price of 1,284.00 (almost got tested).
Daily pivot Fibonacci points:
Resistance levels: R1: 1,303.84 R2: 1,304.22 R3: 1,304.83
Support levels: S1: 1,302.62 S2: 1,302.24 S3: 1,301.63
Trading recommendations:
Buying Gold looks risky since we got successful rejection from our Fibonacci retracement 61.8%.

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

 

[bhanu545]

Technical analysis of USD/JPY for August 18, 2014

Overview:
USD/JPY is expected to trade with risks skewed lower. It is undermined by the selling of yen crosses amid diminished investor risk appetite (VIX fear gauge rose 5.88% to 13.15, S&P 500 closed roughly flat at 1,955.06 Friday) as worries mounted over a possible escalation of the Russia-Ukraine conflict. USD/JPY is also weighed by Japanese export sales and lower U.S. Treasury yields (10-year at 2.341 versus 2.398 late Thursday), the weaker dollar sentiment (ICE spot dollar index last 81.45 versus 81.61 early Friday) on lower-than-expected U.S. July PPI of +0.1% (versus forecast +0.2%), worse-than-expected drop in U.S. Empire State's business conditions index to 14.69 in August from 25.60 in July (versus forecast 20.0), weaker-than-expected University of Michigan preliminary U.S. August consumer sentiment index of 79.2 (versus forecast 82.0). But the USD sentiment is soothed by the higher-than-expected 0.4% rise in U.S. July industrial production (versus forecast +0.2%) and capacity utilization of 79.2% (versus forecast 79.1%). But USD/JPY losses are also tempered by the demand from Japanese importers.
Technical comment:
The daily chart is mixed as bearish outside-day-range pattern was completed on Friday, but stochastics is neutral.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 102.75 and the second target at 103. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 101.95. A break of this target would push the pair further downwards and one may expect the second target at 101.65.The pivot point is at 102.20.
Resistance levels: 102.75 103 103.25
Support levels: 101.95 101.65 101.40

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of GBP/USD for August 19 , 2014

Overview: The price of the GBP/USD pair has not been stable because the trend has been moving between 1.6725 and 1.6657 since yesterday. Also, it might noted that the prices of 1.6725 and 1.6657 represent the weekly pivot point and the double bottom respectively. Furthermore, it should be mentioned that resistance has already set at the price of 1.6725 and support is placed at 1.6622. Accordingly, it would be wise to be careful in this area. So, the first step is waiting in this spot before investing. As a result, the GBP/USD pair is likely to start showing the signs of the bullish market at the level of 1.6622. In other words, it will be a good idea to buy above the price of 1.6622 with the first target of 1.6666 in order to try to close above minor resistance. Then, it will call for an uptrend to continue its bullish movement towards 1.6725 to test the weekly pivot point for forming the strong resistance at this point in H1 chart. Consequently, the market will indicate a bearish opportunity at the spot of 1.6725. Thus, the level will be acting as strong resistance today. For that, it is providing a clear signal for sell deals with the target seen at 1.6625. On the other hand, the stop loss should be placed above 1.67453.

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

 

[bhanu545]

Technical analysis of EUR/USD for August 19, 2014

Overview:
The EUR/USD pair has broken a minor support at the level of 1.3350. Additionally, it should be noted that the price has opened below the minor support today. Moreover, the weekly pivot point is calculated at 1.3381 this week. The price was approaching it in order to test it yesterday but the trend failed to hit it. Therefore, it will probably start downside movement at this area and recover again. Thus, the market will indicate a bearish opportunity below the minor support (1.3350), so it will be a good sign to buy at this spot with a first target of 1.3333 (the double bottom), and continue towards 1.3302 in order to try hitting the weekly support 1. On the other hand, if there is a break at the price of 1.3385, then it will be a good location for placing the stop loss.
Notes:
The daily support will set at the level of 1.3302.
The major resistance is going to set at the 1.3381.
We saw an insignificant range of 53 pips last week because the volatility was not high yesterday. But, today we expect the large range of 75 -90 pips.

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