Technical analysis on EU,GU and majors

[bhanu545]

Technical analysis of USD/CHF for August 19, 2014

Overview:
USD/CHF is expected to trade in a higher range. It is underpinned by the positive dollar sentiment, dovish Swiss National Bank's monetary policy, and franc sales on rebounding EUR/CHF cross. But USD/CHF gains are tempered by the franc demand on buoyant CHF/JPY cross. The daily chart is still negative-biased as MACD and stochastics is in a bearish mode, five-day moving average is below 15-day MA and is declining, although inside-day-range pattern was completed on Monday.
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 0.9095 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 0.90500.
Resistance levels: 0.9095 0.9115 0.9135
Support levels: 0.9015 0.8990 0.8975

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

 

[bhanu545]

Technical analysis of USD/JPY for August 19, 2014

Overview:
USD/JPY is expected to trade in a higher range. It is underpinned by the yen-funded carry trades amid improved investor risk sentiment (VIX fear gauge eased 6.31% to 12.32; S&P 500 rose 0.85% to close at 1,971.74 overnight) as worries eased over the geopolitical tensions in Ukraine. USD/JPY is also supported by the demand from Japanese importers and higher U.S. Treasury yields (10-year at 2.394 versus 2.345 late Friday), stronger dollar sentiment (ICE spot dollar index last 81.59 versus 81.45 early Monday) after surprise rise in U.S. NAHB housing market index to 55 in August from 53 in July (versus the forecast for no change). But the USD/JPY gains are tempered by Japanese export sales.
Data focus:
0500 GMT Japan June revised indexes of business
0600 GMT Japan July revised machine tool orders
1230 GMT U.S. July CPI, housing starts and building permits.
Technical comment:
The daily chart positive-biased as MACD & stochastics in a bullish mode, although the inside-day-range pattern completed on Monday.
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 102.20. A break of this target would push the pair further downwards and one may expect the second target at 101.95. The pivot point is at 102.40.
Resistance levels: 102.75 103 103.25
Support levels: 102.20 101.95 101.65

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

 

[bhanu545]

Gold analysis for August 19, 2014

Overview: Since our last analysis, gold has been trading sideways. We are waiting for larger movement and a lager volume. According to the daily time frame, we can observe supply in a volume below the average. We got 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). According the the 4H timeframe, we can observe weak demand on the market, which is another sign that buying Gold at this stage looks risky.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,303.44 R2: 1,305.42 R3: 1,308.63
Support levels: S1: 1,297.02 S2: 1,295.04 S3: 1,291.83 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 August 20, 2014

When the European market opens, some economic news will be released such as German PPI m/m.The US will release its Crude Oil Inventories and FOMC Meeting Minutes. So amid the reports, EUR/USD will move low to medium volatility today.
Today's technical levels:
Breakout BUY Level: 1.3383.
Strong Resistance:1.3375.
Original Resistance: 1.3362.
Inner Sell Area: 1.3349.
Target Inner Area: 1.3318.
Inner Buy Area: 1.3287.
Original Support: 1.3274.
Strong Support: 1.3261.
Breakout SELL Level: 1.3253.

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

 

[bhanu545]

Medium-term forecast and an intraday recommendation on GBP/USD for August 20, 2014

As for today's session, the pair opened above yesterday's close and held the previous day low (1.6612) and made a low at 1.6614, as of now in the Pacific session. It has been making a minor support at 1.6612 for 11 hours; below this, the level of 1.66 will act as a major support. We recommend selling only below 1.66 with targets at the 1.6555 and 1.6524 levels. On the higher side, it has resistance at the 1.6655, 1.6665,1.6690, and 1.6710 levels. A h4 candle closure is to be above 1.6665. Minor pull back will take place towards 1.6690, 1.67, and 1.6710. Strong buy only above 1.6710.
Fresh sell only below 1.66
Risky buy above 1.6665
Strong pull back above 1.6710

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

 

[bhanu545]

Technical analysis of USD/CHF for August 20, 2014

Overview: USD/CHF is expected to trade in a higher range. It is underpinned by the positive dollar sentiment, franc sales on buoyant EUR/CHF cross, and dovish Swiss National Bank's monetary policy. The daily chart is mixed as MACD is bearish, but stochastics is turned 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 0.9130 and the second target at 0.9145. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9050. A break of this target would push the pair further downwards and one may expect the second target at 0.9030. The pivot point is at 0.9070.
Resistance levels: 0.9130 0.9145 0.9170
Support levels: 0.9050 0.9030 0.9

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

 

[bhanu545]

Technical analysis of USD/JPY for August 20, 2014

In Asia, Japan will release its Trade Balance data and All Industries Activity m/m. Meanwhile, the US will release some economic data such as Crude Oil Inventories and FOMC Meeting Minutes. 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: 103.50.
Resistance. 2: 103.30.
Resistance. 1: 103.09.
Support. 1: 102.85.
Support. 2: 102.64.
Support. 3: 102.24.

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

 

[bhanu545]

Gold analysis for August 20, 2014

Overview: Since our last analysis, gold has been trading downwards. Just like we expected, the price tested the level of 1,291.55 in a volume just above average. According to the daily time frame, we can observe supply in a volume below average. We got 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). Our low level swing at the price of 1,291.00 is on the test, so selling at this stage looks risky. Anyway, if the price breaks the level of 1,291.00, we may see possible testing the level of 1,284.00 (Fibonacci expansion 61.8%).
Daily pivot Fibonacci points:
Resistance levels: R1: 1,301.81 R2: 1,303.93 R3: 1,307.37
Support levels: S1: 1,294.93 S2: 1,292.81 S3: 1,289.37
Trading recommendations:
Selling Gold looks risky since our support level is now on the test.

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

 

[bhanu545]

Technical analysis of EUR/USD for August 21, 2014

When the European market opens, some economic news will be released such as French Flash Manufacturing PMI, French Flash Services PMI, German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI, Consumer Confidence. The US will release the economic data as well such as the Unemployment Claims, Flash Manufacturing PMI, Philly Fed Manufacturing Index, Existing Home Sales, CB Leading Index m/m, Natural Gas Storage. So, amid the reports, EUR/USD will move low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3321.
Strong Resistance:1.3313.
Original Resistance: 1.3300.
Inner Sell Area: 1.3287.
Target Inner Area: 1.3256.
Inner Buy Area: 1.3225.
Original Support: 1.3212.
Strong Support: 1.3199.
Breakout SELL Level: 1.3191.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for August 21, 2014

One month ago, the bears initiated a bearish trend off price levels around 1.7150-1.7190. Since then, the GBP/USD pair has been declining within the depicted bearish channel.
The price levels of 1.7050 - 1.7000 failed to provide enough support for the pair. Hence, the bears had a potential bearish target around 1.6970 and then 1.6920.
DAILY fixation below 1.6980-1.7000 applied intensive bearish pressure on the price zone of 1.6920-1.6900 leading to its breakdown as well.
Bullish recovery was evident around 1.6800 - 1.6820 manifested during the previous visit (Monday's daily candlestick)
However, this price zone failed to provide support during the 2nd visit that took place on Friday exposing the price level of 1.6765 for retesting.
Price levels around 1.6800-1.6820 offered a valid SELL entry. SL should be lowered to 1.6680 to secure our profits.
Bearish targets should have been reached initially around 1.6670, 1.6625 and 1.6580 where the lower limit of the ongoing bearish 4H channel is roughly located.
The next bearish destination is located around 1.6580-1.6550 in case the bears keep developing such bearish momentum. Price action action should be watched for a possible BUY entry.

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

 

[bhanu545]

Technical analysis of USD/CHF for August 21, 2014

Overview: USD/CHF is expected to consolidate with a bullish bias after hitting a seven-month high at 0.9138 on Wednesday. It is underpinned by the positive dollar sentiment and dovish Swiss National Bank's monetary policy. But USD/CHF gains are tempered by the franc demand on buoyant CHF/JPY cross. The daily chart is positive-biased as stochastics is in a bullish mode, MACD is turning bullish, five and 15-day moving averages are advancing.
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 0.9130 and the second target at 0.9145. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9070. A break of this target would push the pair further downwards and one may expect the second target at 0.9050. The pivot point is at 0.91.
Resistance levels: 0.9130 0.9145 0.9170
Support levels: 0.9070 0.9050 0.9030

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

 

[bhanu545]

Technical analysis of USD/JPY for August 21, 2014

Overview: USD/JPY is expected to consolidate with a bullish bias after hitting a three-and-a-half month high at 103.85 on Wednesday. USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 82.23 versus 81.87 early Wednesday) after more-hawkish-than-expected minutes of the Federal Open Market Committee's July meeting which showed that officials debated whether to raise interest rates sooner than expected. USD/JPY is also supported by the demand from Japan importers and higher U.S. Treasury yields (10-year at 2.428% versus 2.407% late Tuesday); yen-funded carry trades amid positive investor risk appetite (VIX fear gauge eased 3.52% to 11.78, S&P 500 closed up 0.25% at 1,986.51 overnight) as investors are certain the U.S. economy is healthy enough to withstand sooner-than-expected rate increases (market participants would be looking for further clues on Fed's monetary policy from Chairwoman Yellen's speech at the Jackson Hole forum for global central bankers on Friday). But USD/JPY gains are tempered by Japanese export sales. The daily chart is positive-biased as MACD and stochastics are bullish, five and 15-day moving averages are advancing.
Technical comment:
The daily chart is positive-biased as MACD and stochastics are bullish, five and 15-day moving averages are advancing.
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 104.10 and the second target at 104.50. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 103. A break of this target would push the pair further downwards and one may expect the second target at 102.70. The pivot point is at 103.40.
Resistance levels: 104.10 104.50 104.80
Support levels: 103 102.70 102.50

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

 

[bhanu545]

Gold analysis for August 21, 2014

Overview: Since our last analysis, gold has been trading downwards. Just like we expected, the price tested the level of 1,273.58 in a very high volume. We got successful rejection from our Fibonacci retracement 61.8%, which caused price to start downward movement. Our Fibonacci expansion 61.8% at the price of 1,284.00 is broken. So, we may see potential testing the level of 1,260.00 (Fibonacci expansion 100%). We can observe strong selling pressure according to the 4H timeframe, which is a sign that buying looks very risky. Watch for potential selling opportunities afer retracement.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,298.45 R2: 1,300.95 R3: 1,305.00
Support levels: S1: 1,290.35 S2: 1,287.85 S3: 1,283.80
Trading recommendations: Buying Gold looks risky since price has broke support level.

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

 

[bhanu545]

Technical analysis of EUR/USD for Aug 22, 2014

Technical outlook and chart setups:
1. The EUR/USD pair has resumed its longer-term downtrend and has just managed to take out support at the 1.3295 levels. Fibonacci support suggests that the pair could print another low at the 1,3200 levels before retracing higher. Probabilities of a counter trend rally towards 1.3700/50 levels remain high.
2. Support is seen at 1.3200 (fibonacci), followed by 1.3100 and lower, while resistance is at 1.3450, followed by 1.3700 and higher respectively.
3. The structure indicates that EUR/USD could resume its counter trend rally any moment now.
Trading recommendations: Buy on dips, stop below 1.3200, target is open. Good luck!

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

 

[bhanu545]

Technical Analysis of GBP/USD for August 22, 2014

The pair has been making lower lows and lower highs since the first trading session this week. As of now, the pair made a lower high today as well. The prices are closed and trading below the 12ema, negative for intraday. Until the price closes above 12ema in the h4 chart at 1.66, selling on an up move will mint money. Resistance is at 1.66, 1.6630, and 1.6660.

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

 

[bhanu545]

Technical analysis of USD/JPY for August 22, 2014

In Asia, Japan will not release any economic data as well as the US, but today Fed Chair Yellen will speak. So there is a big probability USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.
Todays technical levels:
Resistance. 3: 104.47. Resistance. 2: 104.27.
Resistance. 1: 104.06. Support. 1: 103.81.
Support. 2: 103.61. Support. 3: 103.40.

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

 

[bhanu545]

Gold Wave analysis for August 22, 2014

Gold price has reached the important support of $1,270 as expected, after breaking below $1,280 low. The trend remains bearish. Price is making lower lows and lower highs. However we see initial signs of a potential bullish reversal from current levels.

Short-term resistance is found at $1,290 and at $1,300. Price is below the Ichimoku cloud and inside a downward sloping channel. Support at $1,270 is very important as this is where the trendline from $1,180 and $1,240 comes through.

The decline from $1,346 is still in three waves and does not look impulsive. This is why I believe this is a part of a corrective wave and we should soon expect an upward reversal in Gold price. The bounce from $1,271 may be short lived but it is too early to tell yet. An initial buy signal will come once we break above $1,290 and $1,300. The target remains $1,350.
Performed by Alexandros Yfantis, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of Silver for Aug 22, 2014

Technical outlook and chart setups:
1. Silver might just have formed bottom yesterday at $19.30 levels as seen here. The metal has bounced of to intraday highs near $19.60 and is still expected to continue higher from here. Bulls should remain in control from here on.
2. Support is seen at the $19.00 levels, followed by $18.60 and lower, while resistance is seen at $20.10 (interim), followed by $20.80.$21.00, $21.70 and higher up respectively.
3. The structure indicates that Silver might have resumed the larger trend that is higher. A push through $20.10 levels would confirm.
Trading recommendations:
Remain long, stop below $19.00, target is open. Good luck!

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for August 25, 2014

The price zone of 1.3800-1.3880 (dotted on the chart) provided considerable SUPPLY for the EUR/USD pair. This price zone managed to pause the bullish momentum leading to obvious breakdown of the depicted bullish trend line. Bearish pressure which originated off 1.3650 has applied enough pressure at the price level of 1.3560 (corresponding to the previous prominent bottom). Since then, the pair has been down-trending within the depicted bearish channel. Again, the EUR/USD pair shot towards 1.3330 (prominent bottom established on November 8, 2013) once more after the initial testing that took place on August 6 when significant bullish pressure was applied. Bullish daily candlesticks were initially expressed indicating upcoming bullish correction. However, bearish breakout of the consolidation range took place on Tuesday.� The pair achieved WEEKLY closure at 1.3240 then pair opened this week on a bearish gap (around price level of 1.3200). Further price action should be considered.

Performed by Michael Becker, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for August 25, 2014

One month ago, the bears initiated a bearish trend off price levels around 1.7150-1.7190. Since then, the GBP/USD pair has been declining within the depicted bearish channel. The price levels of 1.7050 - 1.7000 failed to provide enough support for the pair. Hence, the bears had a potential bearish target around 1.6970 and then 1.6920. However, this price zone of 1.6800 - 1.6820 failed to provide support during the 2nd visit that took place on Friday exposing the price level of 1.6765 for retesting. Price levels around 1.6800-1.6820 offered a valid SELL entry which is running in profits until now. Stop Loss should be lowered to 1.6605 to secure our profits. Bearish targets should have been reached initially around 1.6670, 1.6625 and 1.6580 where the lower limit of the ongoing bearish 4H channel is roughly located. The next bearish destination is located around 1.6580-1.6550 in case the bears keep developing such bearish momentum. Price action action should be watched for a possible BUY entry.

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