Technical analysis on EU,GU and majors

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Technical analysis of USD/JPY for August 25, 2014

In Asia, Japan will not release any economic data today, but the US will unveil its Flash Services PMI and New Home Sales reoprts. So there is a big probability the USD/JPY pair will move with low to medium volatility today. Today's technical levels: Resistance. 3: 104.74. Resistance. 2: 104.54. Resistance. 1: 104.33. Support. 1: 104.08. Support. 2: 103.87. Support. 3: 103.67.

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

 

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Daily analysis of Silver for August 25, 2014

As shown in the today's H4 chart, the metal failed again to break the support level of 19.30 and is still trading between the support level and below the resistance level of 19.50. Currently, it is bouncing from the support level and ready for the bullish move. So, we still suggest waiting for closing above the resistance level of 19.50 in case of bouncing from the support level. It will give us a new opportunity for more buy signals with the first target few pips below the resistance level of 19.75. Then after breaking this resistance level, silver might open the way towards the resistance level of 20.00, which means more bullish signals. However, as long as the metal trades below the resistance level of 19.50 this cancels the bullish scenario.

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

 

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Gold analysis for August 25, 2014

Since our last analysis, gold has been trading sideways around the price of 1,278.00. We are waiting for more robust activity and larger price action on the market. 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 very weak demand according to the 4H timeframe, which is a sign that buying looks very risky. Watch for potential selling opportunities after retracement.

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

 

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Technical analysis of EUR/USD for August 26, 2014

Overview: The EUR/USD pair has rebounded from the minor support at the level of 1.3174. Now, it is approaching its support in order to test it. But as it is shown on the chart, the price has opened below the gap at the price of 1.3194. Moreover, it should be noted that the price of 1.3285 represents the weekly pivot point on August 26, 2014. Equally important, the weekly pivot point coincides with the ratio of 38.2% Fibonacci retracement levels in H1 chart. Consequently, it will probably start upside movement in this area and recover again. Therefore, it will be a good sign to sell at this spot with the first target of 1.3174 (it should be noted that this level will form the weekly support 1) and continue towards 1.3145 to form a new double bottom. On the other hand, in case of a break of 1.3308, a good place for stop loss will be above 1.3320.
Observations:
The EUR/USD/CHF pair was calling for the bearish market from the level of 1.3285 this week.
The weekly pivot point will be set at the price of 1.3285.
The level of 1.3174 represents support 1.
If the trend is of an upside character, then the strength of the currency will be defined as following: EUR is in the uptrend and USD is in the downtrend.

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

 

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Technical analysis of GBP/USD for August 26, 2014

Trading recommendations:
According to the previous events, the price is still below the weekly pivot point. Subsequently, the descending movement will probably be lower than the 1.6622 level. As it is known, history will probably repeat itself at this level again. Therefore, it will a good sign to sell below the weekly pivot point (1.6622) with the first target of 1.6560 (the double bottom). It will call for a downtrend to continue its bearish movement towards the price of 1.6509 which represents the weekly support 1. Also, it should noted that stop loss should always be taken into account. For that, it will be very useful to set your stop loss because the stop loss should never exceed your maximum exposure amounts. Consequently, stop loss should be placed above the resistance level at the price of 1.6650. gbpusdh4.png Show full picture

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

 

[bhanu545]

Technical analysis of USD/JPY for August 26, 2014

In Asia, Japan will release the SPPI y/y and the US will release its Core Durable Goods Orders m/m, Durable Goods Orders m/m, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, and Richmond Manufacturing Index. So there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.
Todays technical levels:
Resistance. 3: 104.61.
Resistance. 2: 104.41.
Resistance. 1: 104.20.
Support. 1: 103.95.
Support. 2: 103.75.
Support. 3: 103.54.

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

 

[bhanu545]

Technical analysis of USD/CHF for August 26, 2014

Overview: USD/CHF is expected to consolidate with a bullish bias after hitting a nine-month high at 0.9179 on Monday. It is supported by the dovish Swiss National Bank's monetary policy, franc sales on retreating CHF/JPY cross, and contagion from weak EUR on CHF. But USD/CHF gains are tempered by the franc demand on soft EUR/CHF cross. The daily chart is positive-biased as MACD and stochastics are bullish, although the latter is in the overbought zone; 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 0.9175 and the second target at 0.92. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9110. A break of this target would push the pair further downwards and one may expect the second target at 0.9070. The pivot point is at 0.9125.
Resistance levels: 0.9175 0.92 0.9225
Support levels: 0.9110 0.9070 0.9050

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

 

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Gold analysis for August 26, 2014

Overview: Since our last analysis, gold has been trading upwards. The price tested the level of 1,290.32 in a ultra high volume according to the 1H time frame. We can observe an ultra high volume (buying climax) according to the 1h timeframe, which is a sign that buying looks very risky. 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%). I have placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 38.2% at the price of 1,292.00 and Fibonacci retracement 61.8% at the price of 1,303.00.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,281.02 R2: 1,282.58 R3: 1,285.10
Support levels: S1: 1,275.98 S2: 1,274.42 S3: 1,271.90
Trading recommendations:
Buying Gold looks risky since the price has broken the support level.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for August 27, 2014

Bearish breakdown of the price level of 1.3430 allowed the pair to establish a consolidation zone down to 1.3330. Since then, the EUR/USD pair has been trapped inside this price range.
The short-term bearish trend remains intact as long as the bears keep defending the price zone of 1.3420-1.3450.
In case the bears keep applying significant bearish pressure, the EUR/USD pair has Intraday DEMAND zone located between 1.3200 - 1.3150 respectively (Fibonacci Expansion Levels).
The pair has been trading below these levels since Monday. However, daily closure should be considered to determine if the current breakdown will persist or not.
On the other hand, bullish fixation above 1.3285 is essential to acquire a momentum strong enough to initiate a bullish corrective move towards 1.3340 and 1.3410 as well.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for August 27, 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 1.6920.
However, this price zone of 1.6800 - 1.6820 failed to provide support too, exposing the price level of 1.6665.
Price levels around 1.6800-1.6820 offered a valid SELL entry at retesting. 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 today for a possible BUY entry upon bullish breakout of the current channel depicted on the 4H chart. Projection targets are roughly located at 1.6660 and 1.6705.

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

 

[bhanu545]

Technical analysis of USD/JPY for August 27, 2014

In Asia, Japan will not release any news but the US will unveil its Crude Oil Inventories. So there is a big probability USD/JPY will move with low volatility today.
Todays technical levels:
Resistance. 3: 104.58.
Resistance. 2: 104.38.
Resistance. 1: 104.17.
Support. 1: 103.92.
Support. 2: 103.72.
Support. 3: 103.51.

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

 

[bhanu545]

Technical analysis of Gold for Aug 27, 2014

Technical outlook and chart setups:
1. Gold had rallied past the $1,290.00 mark yesterday before pulling back. The metal is still expected to hit $1,302.00/05.00 levels before retracing further. $1,270.00 levels seem to be base for the metal now.
2. Support is seen at $1,270.00 (interim), followed by $1,260.00/40.00 while resistance is seen at $1,325.00, followed by $1,340.00 and higher respectively.
3. The structure indicates that Gold could clear $1,325.00 levels from here on. The $1,270.00 level should remain intact though.
Trading recommendations: Remain long, stop below $1,270.00, target is open. Good luck!

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

 

[bhanu545]

Technical analysis of Silver for Aug 27, 2014

Technical outlook and chart setups:
1. Silver rallied through the $19.70 levels yesterday before pulling back sharply lower. At the moment, the metal is trading at $19.47, and is expected to rally further, completing a bullish reversal signal on the daily chart. Recommendation is to remain long, risk remains below $19.00
2. Support is seen at $19.00, followed by $18.60 and lower while resistance is seen at $20.20(interim), followed by $21.20/40 and higher respectively.
3. The structure indicates that Silver remains constructive till prices are above the $19.00 levels.
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 28, 2014

Bearish breakdown of the price level of 1.3430 allowed the pair to establish a consolidation zone down to 1.3330.
Since then, the EUR/USD pair has been trapped inside this price range.
The short-term bearish trend remains intact as long as the bears keep defending the price zone of 1.3420-1.3450. In case the bears keep applying significant bearish pressure, the EUR/USD pair has Intraday DEMAND zone located between 1.3200 - 1.3150 respectively (Fibonacci Expansion Levels).
The pair has been trading between these levels since Monday. However, daily closure should be considered to determine if the current breakdown will persist or a corrective move towards 1.3300 will take place.
Bullish fixation above 1.3285 is essential to acquire a momentum strong enough to initiate a bullish corrective move towards 1.3340 and 1.3410 as well.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for August 28, 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 1.6800-1.6850.
However, this price zone of 1.6800 - 1.6820 failed to provide support too, exposing the price level of 1.6665.
Shortly after, price levels around 1.6800-1.6820 offered a valid SELL entry at retesting.
Targets were reached initially around 1.6670, 1.6625 and 1.6580. Price action action should be watched today for a possible BUY entry upon bullish breakout of the current channel depicted on the 4H chart.
Projection targets are roughly located at 1.6660 and 1.6705.
On the other hand, the next bearish destination is located around 1.6460 in case the bears keep developing such bearish momentum. ( Price level of 1.6460 corresponds to a prominent bottom on the daily chart ).

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

 

[bhanu545]

Technical analysis of USD/JPY for August 28, 2014

Overview: USD/JPY is expected to trade in lower range as markets await 1230 GMT 2nd estimate U.S. 2Q GDP (forecast +3.8%). USD/JPY is undermined by the broadly weaker demand for USD as the ICE spot dollar index enters consolidation mode after reaching a 13-month high of 82.727 Wednesday (USD Index last at 82.47 versus 82.67 early Wednesday). USD/JPY is also weighed by the lower longer-dated U.S. Treasury yields (10-year at 2.361% versus 2.398% late Tuesday) and Japan exporter sales. But USD/JPY losses are tempered by the demand from Japan importers. There is no strong cue for yen-funded trades from Wall Street overnight as U.S. stock indexes closed largely unchanged (S&P 500 flat at 2,000.12; DJIA up 0.09%; Nasdaq off 0.02%) although the VIX fear gauge rose 1.29% to 11.78.
Technical comment:
The daily chart is still positive-biased as MACD is bullish, stochastics stays elevated at overbought zone, five and 15-day moving averages advancing, although inside-day-range pattern was completed on Wednesday. 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 103.40 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 104.25. A break of this target would push the pair further downwards and one may expect the second target at 104.50. The pivot point is at 104.
Resistance levels: 104.25 104.50 104.80
Support levels: 103.40 103 102.70

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

 

[bhanu545]

Technical analysis of Gold for Aug 28, 2014

Technical outlook and chart setups:
1. Gold rally is set to extend towards the $1,305.00 level and higher up. The $1,270.00 level seems to be interim support for the metal to rally further up. Recommendation is to remain long for now, risk remains below the $1,270.00 level.
2. Support is seen at $1,270.00 (interim), followed by the $1,260.00/40.00 levels and lower, while resistance is seen at $1,325.00, followed by $1,340.00, $1,388.00 and higher up respectively.
3. The structure indicates that Gold remains bullish above the $1,270.00/60.00 levels. Trading recommendations: Remain long, stop below, the $1,270.00 target is open. Good luck!

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

 

[bhanu545]

Daily analysis of Silver for August 28, 2014

Overview Yesterday, the metal failed to break the support level of 19.30 to reverse its bearish movement and took a slightly upward move. As seen in today's H4 chart, it is currently trading below the resistance level of 19.80. Given that, the pair continues its bullish movement and closes 4H above the resistance level of 19.80, it would be another opportunity for more bullish signals with the first target few pips below the resistance level of 20.00. Then, we should wait for breaking above this resistance level to get more bullish signals towards the resistance level of 20.20 as the second target.
Resistance and support levels:
R3 (20.20), R2(20.00), R1(19.80),
S1 (19.60), S2 (19.30), S3(19.00).

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

 

[bhanu545]

Technical analysis of EUR/USD for August 29, 2014

Overview: The EUR/USD pair rebounded at the level of 1.3220. It showed signs of strength following the level of 1.3220. As expected, the minor support was broken and turned to minor resistance at the same key level (1.3220). Another thought, the price set below the resistance four days ago. Consequently, the pair has already formed a big gap around the spot of 1.3220 and 1.3240. Furthermore, the price has still been moving between 1.3220 and 1.3150. Therefore, the EUR/USD pair started showing the signs of a bearish market. So, the market indicates the bearish opportunity at the level of 1.3220/.3240 with the first target of 1.3170, and continues towards the level of 1.3115 in order to try testing the weekly support 2. Notwithstanding, the stop loss should always be taken into account. Thus, it will be wise to set your stop loss at the 1.3285 price. Also, it should be noted that the price of 1.3285 represents the weekly pivot point.

Intraday technical levels:
Date and Time:29/08/2014 11:27
Pair: EUR/USD
R3: 1.3274 R2: 1.3247 R1: 1.3215 PP: 1.3188
S1: 1.3156 S2: 1.3129 S3: 1.3097

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for August 29, 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 1.6800-1.6850.
However, this price zone of 1.6800 - 1.6820 failed to provide support too, exposing the price level of 1.6665.
Shortly after, price levels around 1.6800-1.6820 offered a valid SELL entry at retesting. Targets were reached initially around 1.6670, 1.6625 and 1.6580.
Price action action should be watched today for a possible BUY entry upon bullish breakout of the current channel depicted on the 4H chart.
Projection targets are roughly located at 1.6660 and 1.6705.
On the other hand, the next bearish destination is located around 1.6460 in case the bears keep developing such bearish momentum. ( Price level of 1.6460 corresponds to a prominent bottom on the daily chart ).

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