Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for September 4, 2014

One month ago, bears initiated a bearish trend off the 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, bears had an initial bearish target around 1.6800.
However, this price zone of 1.6800 - 1.6820 failed to provide support too.Thus, maintaining the downside movement within the depicted chart.
The current bearish destination is located around 1.6400-1.6385 which has been hit earlier today. (Price level of 1.6390 corresponds to the depicted channel lower limit).
In case bulls maintain the current daily closure in the form of a "bullish hammer daily candlestick", bullish breakout is likely to occur this week.
Otherwise, sustained bearish pressure will expose the price levels around 1.6315 for retesting. It's the nearest daily support to meet the pair ( previous prominent daily bottom ).

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

 

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Technical analysis of USD/JPY for September 04, 2014

In Asia, Japan will release the Monetary Policy Statement and BOJ press conference. Besides, the US will release some economic data such as ADP non-farm employment change, trade balance, unemployment claims, revised 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, there is a big probability the USD/JPY will move with low to medium volatility during the day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 105.48. Resistance. 2: 105.23. Resistance. 1: 105.02.
Support. 1: 104.77. Support. 2: 104.57. Support. 3: 104.36.

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

 

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Gold analysis for September 04, 2014

Gold price remains below the Ichimoku cloud in the 4 hour chart and below both the short- and long-term red trend lines. Resistance is found at $1,283. Next resistance is at $1,295. Support is at $1,263, if broken it will push price towards $1,250.

The daily trend remains bearish. Price is below the Ichimoku cloud. Price has broken the long-term trend line support from $1,180 and $1,240. It is now back testing that level of support that was broken. Once the back test is over, I expect more downside pressures.

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

 

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Daily analysis of Silver for September 04, 2014

As shown in the today's H4 chart, the metal is stabilizing above the support level of 19.00 after its failure to break the resistance level of 19.20 again. Currently, we should wait for retesting the support level again and closing below to get the bearish opportunity. In that case, we will get a good opportunity to sell below the support level until testing the next support level of 18.75. Therefore, we can consider our first target few pips above this support level. But as long as the price is still above the support level of 19.00, this cancels the bearish move 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

 

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Technical analysis of EUR/USD for September 5, 2014

Overview: We use historical rates to determine future prices because history will probably repeat itself again. The EUR/USD has broken major support at the price of 1.3003 which represents the daily pivot point. Also, it should be noted that the minor resistance is calculated at 1.2968 (the red horizontal line) and it is now approaching it. Therefore, it will probably start downside movement at this area and recovery again. So, the market will indicate a bearish opportunity at level of 1.2968. It will a good sign to sell at this spot with the first target of 1.2919 in order to form the double bottom (the lowest price of yesterday), and continue towards 1.2870. On the other hand, if a break is at the level of 1.3003, then it will be a good location for placing stop loss at 1.3030.
Trading recommendations:
According to previous events, the price has still been trapped between 1.3003 and 1.2920.
Below the price of 1.2968, look for further downside with the 1.2919 and 1.2870 targets.
Buy above the daily pivot point 1.3030 with the first target of 1.3064, it might resume to 1.3087.
Note: Use the time frame of M15 to determine the lower and the higher price of yesterday, because it's more precise.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for September 5, 2014

One month ago, bears initiated a bearish trend off the 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, bears had an initial bearish target around 1.6800. However, this price zone of 1.6800 - 1.6820 failed to provide support too.
Thus, maintaining the downside movement within the depicted chart. The current bearish destination is located around 1.6300-1.6250 which has been hit earlier today( previous prominent daily bottom ).
In case bulls maintain the current daily closure in the form of a "bullish hammer daily candlestick", a bullish corrective movement towards 1.6540 will be very probable. Otherwise, sustained bearish pressure will expose the price levels around 1.6250 for retesting. It's the nearest daily support to meet the pair

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

 

[bhanu545]

Elliott wave analysis of EUR/JPY for September 05, 2014

General overview for 05/09/2014 09:45 CET The black wave Y has been completed earlier than expected and yesterday's news had caused havoc on the markets, resulting in unfinished downward impulsive progression. Currently, the market is in wave -iv- of a larger cycle green wave (iii), so lower prices are expected. Please, notice that the corrective cycle might go as high as the weekly pivot at the level of 136.89 and then fail and reverse. This possibility has been labeled as an alternative count. However, the first target for the bears is at the level of 135.71.
Support/Resistance:
135.64 - WS2
135.71 - Technical Support
135.96 - Intraday Support | Key Level |
136.24 - WR1 136.59 - Intraday Resistance
136.89 - Weekly Pivot
Trading recommendations:
Sell any upside rally with longer term SL above the level of 138.35. TP is open for now.

Performed by Sebastian Seliga, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of Gold for Sep 05, 2014

Technical outlook and chart setups:
1. Gold is still searching for a support and bottom formation around the current levels of $1,260.00. The metal needs to react at these levels to confirm a bullish reversal, which is still lacking. It is recommended to remain flat for now and wait for a confirmation before initiating long positions.
2. Support is seen at $1,240.00 and lower levels, while resistance is seen at $1,296.00, followed by $1,325.00, $1,340.00, and higher respectively.
3. The structure indicates that Gold needs to produce/react at the current levels to confirm a bullish reversal.
Trading recommendations: Remain flat for now. Good luck!

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

 

[bhanu545]

Daily analysis of Silver for September 05, 2014

Overview As shown in the today's H4 chart, the metal failed again to break the support level of 19.00 and is still trading above the support level and below the resistance level of 19.20. Currently, silver is bouncing from the support level and starting the bullish move. So, we still suggest waiting for closing above the resistance level of 19.20 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 19.50. Then, after breaking this resistance level, silver would open the way towards the resistance level of 19.75, which means more bullish signals. However, as long as the metal trades below the resistance level of 19.20, it cancels the bullish scenario.
Resistance and support levels:
R3 (19.75), R2 (19.50), R1 (19.20), S1 (18.00), S2 (19.75), S3 (18.50)

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

 

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Technical analysis of EUR/USD for September 08, 2014

When the European market opens, some economic news will be released such as German Trade Balance and Sentix Investor Confidence. The US will release the economic data too such as the Consumer Credit m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.3013. Strong Resistance:1.3006. Original Resistance: 1.2993. Inner Sell Area: 1.2980. Target Inner Area: 1.2950. Inner Buy Area: 1.2920. Original Support: 1.2907. Strong Support: 1.2894.

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

 

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Intraday technical levels and trading recommendations on GBP/USD for September 8,2014

Breakdown of the DEMAND level around 1.6770-1.6700 allowed a quick decline of the GBP/USD pair initially towards the price level of 1.6300 then 1.6130. Through the previous two weeks, the GBP/USD pair established a congestion zone between the price levels of 1.6660 and 1.6550 when extensive bearish pressure was applied against price level of 1.6280 ( last week's lowest price level ). On the other hand, the current DEMAND level to meet the pair is located around 1.6150 where a previous Triple-Top pattern is located on the daily chart. Thus, a good opportunity of reversal may exist.

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

 

[bhanu545]

Technical analysis of USD/JPY for September 08, 2014

In Asia, Japan will release the Current Account, Final GDP q/q, Bank Lending y/y, Final GDP Price Index y/y, and Economy Watchers Sentiment. Moreover, the US will release some economic data such as Consumer Credit m/m. So, there is a big probability the USD/JPY will move with low to medium volatility during the day. TODAY TECHNICAL LEVELS: Resistance. 3: 105.59. Resistance. 2: 105.38. Resistance. 1: 105.18. Support. 1: 104.93. Support. 2: 104.72. Support. 3: 104.51.

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

 

[bhanu545]

Daily analysis of Silver for September 08, 2014

According to the shown H4 chart, the price's close below the level of 19.20 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 19.00 as the first target, then the metal should test the Support level of 19.00 to get more bearish move till reaching the support level of 18.75 as the second target. On the other hand, the metal's rebound from the Support level of 19.00 cancels bullish scenario

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

 

[bhanu545]

Gold analysis for September 08, 2014

Since our last analysis, gold has been trading upwards. The price tested the level of 1,273.42. The price rejected from our Fibonacci expansion 100% at the level of 1,258.00, and that is reason why we saw bullish movement. If the price breaks the level of 1,251.00 in a high volume, we may see more downward movement and potential testing the level of 1,218.00 (Fibonacci expansion 161.8%). I have placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 38.2% at the price of 1,272.00 (currently on the test) and Fibonacci retracement 61.8% at the price of 1,281.00. According to the 4H time frame, we can observe weak demand in the background, which is a sign that buying look risky.

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

 

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Intraday technical levels and trading recommendations on EUR/USD for September 9

The short-term bearish trend remains intact as long as the bears keep defending the price zone of 1.3310-1.3400.
Daily closure should be considered to determine if the lower limit of the channel will provide support for the bulls or not.
Bullish fixation above 1.3150 and 1.3200 ( recent tops ) is essential to acquire a momentum strong enough to initiate a bullish corrective move towards 1.3295 and 1.3330 as well.
On the other hand, bearish pressure is currently targeting at 1.2860 ( lower limit of the depicted channel ).
Four-hour fixation above price level of 1.2950 ensures higher probability of bullish reversal.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for September 9, 2014

One month ago, bears initiated a bearish trend off the 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, bears had an initial bearish target around 1.6800.
However, this price zone around 1.6800 failed to provide support too. Thus, the bears pursued the downside movement within the depicted chart.
The next bearish destination is located between price levels of 1.5900 and 1.6000 where a previous congestion zone was established in October 2013.
Sustained bearish pressure will expose the price levels around 1.6050, 1.6000 and 1.5920 for retesting. These levels are intraday support levels to meet the pair.
On the other hand, price zone of 1.6250-1.6320 constitutes a prominent resistance zone to offer a valid SELL entry at retesting. This price zone corresponds to the downtrend line initiated since July.

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

 

[bhanu545]

Technical analysis of USD/JPY for Sep 09, 2014

Fundamnetal Overview:
USD/JPY is expected to consolidate with a bullish bias after hitting a near-six-year high at 106.09 on Monday. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 84.31 versus 83.83 early Monday) after a research report released on Monday from the Federal Reserve Bank of San Francisco reading that "evidence based on surveys, market expectations, and model estimates show that the public seems to expect a more accommodative policy than Federal Open Market Committee participants," triggering speculation that the Fed might sound less dovish than expected at next week's FOMC policy meeting. USD/JPY is also supported by the demand from Japan importers amd 6.4% rise in Conference Board U.S. employment trends index to 121.29 in August; more-than-expected $26.01 billion increase in U.S. July consumer credit (versus forecast +$17.5 billion), higher U.S. Treasury yields (10-year at 2.471% versus 2.460% late Friday) and weaker JPY sentiment after Japan's 2Q annualized GDP revised down to -7.1% from preliminary -6.8% and capital expenditure revised down to -5.1% from preliminary -2.5%, fuelling fears that the sales tax increase in April has hurt the economy more than expected. But USD/JPY gains are tempered by the Japan exporter sales.
Technical comment:
The daily chart is positive-biased as MACD is bullish, stochastics stays elevated in the overbought zone, 5 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 106.50 and the second target at 107. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 105.40. A break of this target would push the pair further downwards and one may expect the second target at 104.95. The pivot point is at 105.70.
Resistance levels: 106.50 107 107.35
Support levels: 105.40 104.95 104.70

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

 

[bhanu545]

Gold analysis for September 09, 2014

Overview: Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,251.23 in a volume above average. The price rejected from our Fibonacci retracement 38.2% at the level of 1,272.00, and that is the reason why we saw bearish continuation. Our major Fibonacci expansion 61.8%% is on the test. If the price breaks the level of 1,251.00 in a high volume, we may see more downward movement and potential testing the level of 1,218.00 (Fibonacci expansion 161.8%). According to the 4H time frame, we can observe weak demand in the background, which is a sign that buying looks risky.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,267.50 R2: 1,272.34 R3: 1,280.17
Support levels: S1: 1,251.84 S2: 1,247.00 S3: 1,239.17
Trading recommendations:
Buying at this stage looks risky since the price has rejected from our Fibonacci retracement 38.2%.

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

 

[bhanu545]

Daily analysis of Silver for September 09, 2014

Overview
As it is seen from today's 4H chart, the metal is stabilizing above the support level of 18.90 after its failure to break the support level yesterday. Currently, we should wait for retesting of the support level again and closing below it to get the bearish move opportunity. In that case, we will get a good opportunity to sell below the support level till testing the next support level of 18.75. Therefore, we can consider our first target a few pips above this support level, but as long as the price is still above the support level of 18.50, this cancels the bearish move scenario.
Resistance and support levels: R3 (19.75), R2 (19.50), R1 (19.20), S1 (18.90), S2 (18.75), S3(18.50).

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

 

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Intraday technical levels and trading recommendations on EUR/USD for September 10, 20

The short-term bearish trend remains intact as long as the bears keep defending the price zone of 1.3310-1.3400.
Recent bullish recovery is witnessed on the chart. A possible bullish Head and Shoulders pattern is being established with projection target located at 1.3075.
Four-Hour fixation above 1.2985-1.3000 ( neckline of the reversal pattern ) is essential to acquire enough momentum to initiate a bullish corrective move towards 1.3100 and 1.3150.
The nearest bullish destination is located at 1.3180 where the upper limit of the ongoing bearish channel and 38.2% Fibonacci Level are located. A good SELL-entry can be taken there.
On the other hand, bearish slide below 1.2855 invalidates the current reversal pattern in the short-term.

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