Technical analysis on EU,GU and majors

[bhanu545]

Technical analysis of USD/JPY for August 29, 2014

In Asia, Japan will release its Household Spending y/y, Tokyo Core CPI y/y, National Core CPI y/y, Unemployment Rate, Prelim Industrial Production m/m, Retail Sales y/y, and Housing Starts y/y. Meanwhile, the US will unveil its Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, and Revised UoM Inflation Expectations. So there is a big probability the USD/JPY pair will move with low to medium volatility during the day.
Todays technical levels:
Resistance. 3: 104.24.
Resistance. 2: 104.04.
Resistance. 1: 103.83.
Support. 1: 103.59.
Support. 2: 103.29.
Support. 3: 103.18.

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

 

[bhanu545]

Technical analysis of Gold for Aug 29, 2014

Technical outlook and chart setups:
1. Now, Gold is pulling back after printing intermediary highs around the $1,296.00 levels yesterday. The metal is expected to continue rallying further up towards $1,305.00 and higher up in the sessions to come by. It is recommended to remain long, risk remains below $1,270.00 levels.
2. Support is seen at $1,270.00, followed by $1,260.00, $1,240.00 and lower while resistance is seen at $1,325.00, followed by $1,340.00 and higher up respectively.
3. The structure indicates that Gold is set to print higher highs and higher lows from here on. 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 August 29, 2014

Technical outlook and chart setups:
1. Silver rally stalled yesterday at the $19.90 level. The metal is seen to be trading at the $19.50 level for now, and it is expected to resume rally higher, taking out the $20.20 level. It is recommended to remain long for now, risk remains below $19.00.
2. Support is seen at $19.00, followed by $18.60 and lower while resistance is seen at $20.20/30, followed by $20.80, $21.70 and higher respectively.
3. The structure indicates that Silver remains constructive for bulls till prices remain 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]

Weekly technical levels of EUR/USD for September 1-5, 2014

Trading recommendations: According to the previous events, the price of the EUR/USD pair has still been moving between the levels of 1.3110 and 1.3150. Moreover, it should be noted that the market was quite stable and the trend was also clear (downward), but the range was not very large around 89 pips last week. Additionally, the value of 38.2% Fibonacci retracement levels is 1.3165 (the weekly pivot point is set at the price of 1.3161). So, the key level of 1.3161 is presented for a downtrend to confirm a bearish market. This level will act as strong resistance because it coincides with the weekly pivot point on the first of September, 2014. Therefore, sell deals are recommended below the 1.3161 level with targets at the level of 1.3131 in order to form a double bottom at this level, and it will resume towards 1.3101 to try testing the weekly support 1.

Intraday technical levels:
Date and Time:1/09/2014 13:15
Pair:EUR/USD
Projected high:1.3394
Breakout (buy stop):1.3339
Strong resistance (sell limit):1.3309
Current pivot:1.3176
Strong support (buy limit):1.3042
Breakout (sell stop):1.3017
Projected low:1.2967

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for September 1, 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 then 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 1.6735.
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 September 01, 2014

In Asia, Japan will release the Capital Spending q/y and Final Manufacturing PMI. However, the US will not release any economic data because a bank holiday. So, there is a big probability the USD/JPY pair will move with low volatility during the day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 104.70.
Resistance. 2: 104.48.
Resistance. 1: 104.29.
Support. 1: 104.04.
Support. 2: 103.84.
Support. 3: 103.63.

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

 

[bhanu545]

Gold Technical analysis for September 1, 2014

Gold price has entered the Ichimoku cloud area where the trend is neutral. After making a low at $1,272, gold price has made three higher lows and is most probably preparing for a new break out. Resistance is found at $1,295. Breaking and closing above that level will be a bullish sign. Support is found at $1,280 and $1,270. Breaking below $1,280 will give us a sell sign that will most probably push price sharply towards $1,270.

The daily chart continues to show how price is hitting the Ichimoku cloud and tries to penetrate it. Support is at $1,270 in the daily chart. Entering the Ichimoku cloud will give Gold price a push towards $1,305 and even a spike towards $1,340-50. As long as Gold price is inside the red triangle, our target will remain at $1,340-50.
Performed by Alexandros Yfantis, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

USD/CAD intraday technical levels and trading recommendations for September 1, 2014

The bullish breakout off the depicted channel allowing the bulls to retest the price zone between 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart) where a prominent congestion zone was previously formed.
The USD/CAD pair has failed to show enough bullish momentum above price level of 1.0950 during August then a double-top reversal pattern was expressed shortly at retesting.
As we mentioned before, bearish rejection was anticipated after such a long bullish rally that originated off 1.0650 and 1.0710. A valid SELL position was suggested at retesting which took place last week.
Initial bearish target is located around 1.0825 then 1.0770 (considerable Intraday support) .
Conservative traders should wait for higher entry levels to be retested especially around 1.0880-1.0900. Daily closure below price zone of 1.0870-1.0850 confirms a long-term double-top pattern (on the daily chart) with its projection target located at 1.0770.
On the other hand, daily fixation above 1.0950 (50% Fibonacci level) enables the bulls to shoot towards 1.1020 and 1.1050 initially (very low probability in the meanwhile ).

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

 

[bhanu545]

Technical analysis of EUR/USD for September 02, 2014

When the European market opens, some economic news will be released such as Spanish Unemployment Change, PPI m/m.The US will release its Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, and ISM Manufacturing Prices. So amid the reports, EUR/USD will move low to medium volatility today.
Todays technical levels:
Breakout BUY Level: 1.3196.
Strong Resistance:1.3188.
Original Resistance: 1.3175.
Inner Sell Area: 1.3162.
Target Inner Area: 1.3131.
Inner Buy Area: 1.3100.
Original Support: 1.3087.
Strong Support: 1.3074.
Breakout SELL Level: 1.3066.

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

 

[bhanu545]

Weekly forecast and intraday trading recommendations on GBP/USD for September 02-05,

The UK manufacturing slipped to a 14-month low at 54.8 in the previous month. In yesterday's session, the pair rejected at 100Dsma and closed below that. On the upside, the pair has strong resistance at 1.6664 or 200Ema on a weekly basis. Until the pair closes above this, bears will have an upper hand. Selling on every up move still keeps gainful deals this week as well. Traders can sell at camp 1.6612 and on rise up to 1.666, sl 1.6680 is holding until the sl is taken off. It's a positional trade. On the down side, the target existed at 1.6580 (50WSma) below this, steep fall is expected to the 1.6563, 1.6539, 1.6524, and 1.6465 levels. By the end of this week, if the pair closes above 1.6580 (50WSma) on the downside, 1.6465 is an initial open target; later 1.6252 and 1.6210 are medium-term targets.
Weekly basis: sell on every up move with sl at 1.6680.
Weekly close below 1.6580 means more bearish tone towards 1.6465 and 1.6250. - pending

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

 

[bhanu545]

Technical analysis of USD/JPY for Sep 02, 2014

Overview: USD/JPY is expected to trade in a higher range. Spotlight is on Tuesday on 1400 GMT U.S. August ISM manufacturing PMI (forecast 56.8 versus July's 57.1). USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 82.76 versus 82.73 early Monday) on recent upbeat U.S. economic data (U.S. August ISM Chicago PMI and University of Michigan consumer sentiment index data released on Friday beat forecasts), yen-funded carry trades amid the positive investor risk appetite (FTSE Eurofirst gained 0.22% Monday to close at 1,376.83; Shanghai Composite rose 0.83% Monday) as soft China August manufacturing PMI data raised hopes for more stimulus measures from Beijing. USD/JPY is also supported by the demand from Japanese importers and lower Markit/JMMA Japan final August manufacturing PMI of 52.2 versus preliminary reading of 52.4. But USD/JPY gains are tempered by Japanese export sales and lingering worries over the situation in Ukraine.
Technical comment:
The daily chart is positive-biased as MACD is bullish, stochastics stays elevated 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 105.20 and the second target at 105.40. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 104.20. A break of this target would push the pair further downwards and one may expect the second target at 104. The pivot point is at 104.35.
Resistance levels: 105.20 105.40 105.60
Support levels: 104.20 104 103.75

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

 

[bhanu545]

Gold Technical analysis for September 2, 2014

Gold price has broken short-term support at $1,280and is testing the lows at $1,270. Critical support is at that level. Our bullish scenario is now in danger of getting canceled. The bearish scenario sees Gold price to move to $1,200.

The price level at $1,270 is where the red upward trend line is found. Breaking that level will cancel my wave count and will put pressures on Gold price with $1,200 as a potential target. Price is still below the Ichimoku cloud in the daily chart. As long as price is below the cloud, the trend will remain bearish. $1,295 is a critical resistance level and should be used as a stop for short positions.

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

 

[bhanu545]

Daily analysis of Silver for September 02, 2014

Overview
According to the shown H4 chart, the price's closure below the level of 19.50 yesterday gave new opportunities for sell-signals. Currently, the metal has already managed to break the support area to trade below it and open the way towards the level of 19.20 as the first target. Then, the metal should test the support level of 19.20 in order to get more bearish move till reaching the support level of 18.90 as the second target. On the other hand, the metal's rebound from the support level of 19.20 cancels bullish scenario.
Resistance and support levels: R3 (20.00), R2 (19.75), R1 (19.50), S1 (19.20), S2 (18.90), S3 (18.75).

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

 

[bhanu545]

Technical analysis of EUR/USD for September 3, 2014

Forecast: According to the previous events, the price of the EUR/USD pair is going to move between the levels 1.3110 and 1.3190.
Buy above the price of 1.3109 which represents the double bottom in the long term with the first target at 1.3161 in order to test the weekly pivot point. It might resume to 1.3190 if the trend will be able to break the weekly pivot point at 1.3161.
The stop loss should always be in account, so it will very useful to set your stop loss below support 1 at the price of 1.3068.
Notes:
Strong resistance will be set at the level of 1.3190.
The double top is going to set at the 1.3220 level. Currently, the double bottom is set at the price of 1.3109.
We expect a range of 80 pips today.
The weekly pivot point (1.3161) represents the key level this week.
The price hit the weekly pivot point and the support 1 last week.

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

 

[bhanu545]

Technical analysis of GBP/USD for September 3, 2014

Overview: The price of the GBP/USD pair has opened below the weekly support 1 and support 2 at the level of 1.6493. Additionally, it should be noted that the double top is going to set at 1.6506; and the market was in a downtrend three weeks ago. Therefore, the market will probably indicate a bearish opportunity at the level of 1.6510 in the long term. Also, the weekly support 1 and support 2 will act as strong resistance levels on September 3, 2014 because supports become resistances after breaking it this week. So, according to the previous events, the price is still moving between the levels of 1.6522 and 1.6433. From now on, the area below 1.6506 (below the weekly supports) looks for further downside with the first target at the 1.6446 level in order to form the double bottom and continue towards 1.6415 to test support 3 in H1 chart. Notwithstanding, the stop loss should be placed above the weekly pivot point at the price of 1.6485.

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

 

[bhanu545]

Technical analysis of USD/JPY for Sep 03, 2014

Overview: USD/JPY is expected to consolidate with a bullish bias after hitting a nine-month high at 105.22 on Tuesday. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 82.97 versus 82.76 early Tuesday) and higher U.S. Treasury yields (10-year at 2.423% versus 2.345% late Friday) after a surprise rise in U.S. ISM manufacturing PMI to 59.0 in August--its highest since March 2011--from 57.1 in July (defying forecast for a drop to 56.8), stronger-than-expected 1.8% increase in U.S. July construction spending (versus forecast +1.2%), as well as a rise in U.S. IBD/TIPP Economic Optimism Index to 45.2 in September after 44.5 in August. USD/JPY is also supported by the demand from Japanese importers and the weak JPY sentiment anticipation of increased offshore asset allocation by Japan's Government Pension Investment Fund. But USD/JPY gains are tempered by Japanese export sales and lingering worries over the situation in Ukraine.
Technical comment:
The daily chart is positive-biased as MACD and stochastics are bullish, although 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 105.40 and the second target at 105.60. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 104.55. A break of this target would push the pair further downwards and one may expect the second target at 104.35. The pivot point is at 104.70.
Resistance levels: 105.40 105.60 105.80
Support levels: 104.55 104.35 104.20

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

 

[bhanu545]

Gold analysis for September 03, 2014

Overview: Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,260.98 in a very high volume according to the 4H time frame. The price almost tested our Fibonacci expansion 100% at the level of 1,258.00, so be careful when selling at this stage. If the price breaks the level of 1,258.00, we may see more downward movement. Otherwise, if we see larger bullish reaction from our support, Gold may start a bullish corrective phase.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,283.62 R2: 1,290.18 R3: 1,300.80
Support levels: S1: 1,262.38 S2: 1,255.82 S3: 1,245.20
Trading recommendations:
Selling gold at this stage looks risky since the price is near our support level.

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

 

[bhanu545]

Daily analysis of Silver for September 03, 2014

Overview As shown on today's H4 chart, the metal failed to break the support level of 19.00 and is still trading between the support level and below the resistance level of 19.20. Currently, it is bouncing from the support level and is preparing for the bullish move. So, we still suggest waiting for closing above the resistance level of 19.20 to give us a new opportunity for more buy signals with the first target few pips below the resistance level of 19.50. Then, after breaking this resistance level silver would open the way towards the new resistance level of 19.75, which means more bullish signals. But as long as the metal trades below the resistance level of 19.20, this cancels the bullish scenario.
Resistance and support levels:
R3 (19.75), R2 (19.50), R1 (19.20),
S1 (19.00), S2 (18.75), S3 (18.50).

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

 

[iMusingKiMi]

USD/JPY

I notice a lot of people saying USD/JPY will be continuous on BULLISH. Frankly to says, I will never agree on this point of view. I am a fully technical trader and in my opinion according to Wave Analysis, Elliot has completed a full 135 moves, so with a very high possibilities it will be followed by a correction of ABC. I still doesn't have confirmation yet at this point, and still I need to wait for either a Diagonal Top or a Double Top to confirm on my view. Once either one of those form with candlesticks confirmation, I believe no doubt I will SELL the pair. Just my 2 cents of view.

 

[bhanu545]

Technical analysis of EUR/USD for September 04, 2014

When the European market opens, some economic news will be released such as German factory orders m/m, retail PMI, Spanish 10-y bond auction, French 10-y bond auction, minimum bid rate, and ECB press conference. The US will publish the economic data too such as the ADP non-farm employment change, trade balance, unemployment claims,rRevised non-farm productivity q/q, revised unit labor costs q/q, final services PMI, ISM non-manufacturing PMI, natural gas storage, and crude oil inventories. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.3213.
Strong Resistance:1.3205.
Original Resistance: 1.3192.
Inner Sell Area: 1.3179.
Target Inner Area: 1.3148.
Inner Buy Area: 1.3117.
Original Support: 1.3104.
Strong Support: 1.3091.
Breakout SELL Level: 1.3083.

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