Technical analysis on EU,GU and majors

[bhanu545]

Technical analysis of GBP/USD for September 10, 2014

Overview:
The GBP/USD pair will probably move between 1.6190 and 1.6064. Also, it should be noted that the double bottom is set at the price of 1.6064. Consequently; it would be wise to be careful at this range area of 126 pips. In particular, it will be very important to wait for a period of tight sideway range market before investing. Equally important, the level of 1.6054 formed a strong support, as well as this price corresponds to 00% of the Fibonacci retracement levels (the double bottom). Therefore, the market is likely to start showing the signs of a bullish market. In other words, it will be a good idea to buy above the 0.6064 level with the first target of 1.6133 in order to retest the daily pivot point and it will climb towards the price of 1.6190 for testing a resistance.
However, If the the pair does not break this resistance, the market will indicate a bearish opportunity below 1.6202, then the level will act really as strong resistance, for that it will a good option to sell below 1.6202 with the first target of 1.6064 to form the double bottom again and it will call for a downtrend in order to continue bearish towards 1.5964 tomorrow.

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

 

[bhanu545]

Technical analysis of USD/JPY for September 10, 2014

In Asia, Japan will release the Core Machinery Orders m/m, and PPI y/y. The U.S. will also release some economic data such as Wholesale Inventories m/m, Crude Oil Inventories, and 10-y Bond Auction. So, there is a big probability the USD/JPY will move with low volatility during the day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 106.75.
Resistance. 2: 106.54.
Resistance. 1: 106.33.
Support. 1: 106.07.
Support. 2: 105.86.
Support. 3: 105.65.

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

 

[bhanu545]

Gold Wave analysis for September 10, 2014

Gold price remains below the important price level of $1,270. The short-term trend remains bearish. Our longer-term view remains near $1,000. Breaking the triangle wave 4 signals the start of wave 5. My wave 5 targets are between $1,050 and $950.

The weekly chart above shows the critical break down of Gold price below and out of the wave 4 triangle. I have two targets. The red target is equal to the size of wave 1 and the blue target is equal to the base of the triangle. So, I expect Gold price to reach between $1,050 and $950 in the longer-term.

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

 

[bhanu545]

Technical analysis of Silver for September 10, 2014

Technical outlook and chart setups:
Silver finds support at the $18.90 level, just ahead of the critical low defined at $18.60 for now. The metal pulled back sharply to close above the $19.00 mark. A 4H chart view has been depicted here to catch a short-term reversal signal. Please, keep in mind the bigger picture discussed on the daily chart yesterday. As seen here, the metal has produced an engulfing bullish signal, indicating a potential reversal from current levels ($19.06). A follow through rally towards $19.30 and subsequently to $19.50 would confirm that bulls are back in control. Immediate support remains fixed at the $18.60 level, while resistance is seen at $19.30, followed by $19.50, $19.90/$20.00 and higher respectively.
Trading recommendations:
Remain long, stop at $18.60, the 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 September 11, 20

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.
The current medium-term bearish trend remains intact as long as bears keep defending the price zone of 1.3170-1.3270 (the price zone between 38.2% and 50% Fibonacci levels ).
On the other hand, bearish slide below 1.2855 invalidates the mentioned bullish reversal pattern. Thus, bearish decline towards 1.2745 would be expected then.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for September 11, 2014

In July 15, extensive bearish momentum was gathered. Since then, the GBP/USD pair has been down-trending within the depicted bearish channel.
Two successive bearish impulses were expressed around 1.7180 and 1.6630 corresponding to the upper limit of the depicted channel.
Price level of 1.6140 constitutes a prominent weekly support to meet the pair. Temporary breakdown took place this week as depicted on the chart. However, bullish rejection is being witnessed in the recent daily candlesticks ( note the bullish engulfing daily candlestick which emerged Yesterday ).
We expect the GBP/USD pair to retrace towards the price zone of 1.6330-1.6400 where a new bearish impulse is expected to be applied offering a valid low-risk sell entry. Stop loss should be set as daily closure above 1.6410.
This price zone corresponds to the upper limit of the depicted bearish channel as well as prominent Fibonacci level of the recent bearish impulse between 1.7180 and 1.6060.
On the other hand, risky traders can take a long position around the current prices as long as the bulls keep defending the recent low at 1.6050.Bullish targets to be located at 1.6315 and 1.6450.

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

 

[bhanu545]

Technical analysis of USD/CHF for September 11, 2014

Overview:
The price of USD/CHF pair has still been moving between the prices of 0.9455 and 0.9315 but it should be noticed that the price has set below strong resistance at the level of 0.9455 (100% of Fibonacci retracement levels in daily chart). Moreover, it is worthy of note that these levels coincide between 78.6% and 100% of Fibonacci retracement levels and the pair has already formed a strong resistance around the double top. So, now it is approaching it in order to test it. Therefore, the Swissy's downside momentum is rather convincing and the structure of the fall does not look corrective. In order to indicate a bearish opportunity below 0.9455, it will a good idea to sell below 0.9455 with the first target of 0.9366. It will call for a downtrend falling further towards 0.9293 to try to break the price of 0.9366t.
Intraday technical levels:
Date and Time:11/09/2014 12:07
Pair:USD/CHF
R3: 0.9480 R2: 0.9438 R1: 0.9403
PP: 0.9361
S1: 0.9326 S2: 0.9284 S3: 0.9249

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

 

[bhanu545]

Gold Technical analysis for September 11, 2014

Gold price has made new lower lows yesterday at $1,243, just $3 away from our short-term target of $1,240 that I've been calling since we broke below the $1,270 support. The trend remains bearish. The Ichimoku cloud indicators remain bearish. The bigger outlook is still bearish. goldh4.jpg

Gold price is now testing the previous June low at $1,240. The trend is bearish and the triangle consolidation has broken to the downside. The bigger picture remains clearly bearish with targets below $1,180. A back test of the broken trend line in the weekly chart cannot be ruled out at the moment. This means a back test towards $1,300 is still possible. However, this scenario is not our favorite.

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

 

[bhanu545]

Daily analysis of Silver for September 11, 2014

Overview
According to our previous expectations, the price's close below the resistance level of 19.00 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Resistance level to trade below and open the way towards 18.75 as first target, then the metal must test the Support level of 18.50 to get more bearish move till reaching the level of 18.00 as second target. On the other hand, the metal's rebound from the Support level 18.50 cancels bearish scenario.
Resistance and support levels: R3 (19.20), R2 (19.00), R1 (18.75), S1 (18.50), S2 (18.00)

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

 

[bhanu545]

Technical analysis of EUR/USD for September 12, 2014

When the European market opens, some economic news will be released such as German WPI m/m, Italian Industrial Production m/m, Industrial Production m/m, Employment Change q/q, and Eurogroup Meetings minutes.The US will release the economic data too such as the Core Retail Sales m/m, Retail Sales m/m, Import Prices m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations, and Business Inventories m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2985.
Strong Resistance:1.2978.
Original Resistance: 1.2960.
Inner Sell Area: 1.2965.
Target Inner Area: 1.2922.
Inner Buy Area: 1.2892.
Original Support: 1.2879.
Strong Support: 1.2866.
Breakout SELL Level: 1.2859.

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

 

[bhanu545]

Technical analysis of GBP/USD for September 12, 2014

Overview:
GBP/USD: It should be noticed that resistance (1.6353) and support (1.6190) are considered to be clear indicators of the maximum range of extreme volatility on September 12, 2014, though it is possible to pass them through. Also, it should be noted that the price of 1.6190 represents the weekly support 1 and the ratio of 50% Fibonacci retracement levels coincides with the level of 1.6353. Therefore, according to the previous events, the GBP/USD pair has still been trapped between 1.6190 and 1.6303. Hence, probably the market is going to start showing the signs of a bullish market above the price of 1.6190, because it represents major support. In other words, it will be a good idea to buy above the support (1.6190) with the first target of 1.6285 in order to try breaking the daily pivot point, then it will call for an uptrend to continue its bullish movement towards 1.6350 (the level of 1.6353 represents strong resistance today).
Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of USD/JPY for Sep 12, 2014

Fundamental Overview:
USD/JPY is expected to consolidate with bullish bias after hitting near-six-year high at 107.20 on Thursday.It is underpinned by the higher U.S. Treasury yields (10-year at 2.551% versus 2.543% late Wednesday) amid speculation that the Federal Reserve might sound more hawkish in next week's policy statement and might raise interest rates sooner than the middle of next year that markets had been anticipating. USD/JPY is also supported by the demand from Japan importers. But USD sentiment is dented by the more-than-expected 315,000 U.S. jobless claims in week ended Sept. 6 (versus forecast 300,000). USD/JPY gains are also tempered by Japanese export sales and Bank of Japan Gov. Kuroda saying Thursday that "there's no need to discuss additional easing for now since prices are on steady track to achieving its 2.0% inflation target", EU unveiling fresh sanctions on Russia over Ukraine and positions adjustment ahead of Japan's long weekend (financial markets in Japan are shut on Monday for a public holiday).
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 107.50 and the second target at 107.85. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 106.60. A break of this target would push the pair further downwards and one may expect the second target at 106.20. The pivot point is at 106.90.
Resistance levels: 107.50 107.85 108.15
Support levels: 106.60 106.20 106

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

 

[bhanu545]

Intraday trading recommendations on Gold of September 12,2014

Gold hit the key support level of $1,240, made a low at 1234.75. As we recommended earlier, free fall is expected again below $1,240 towards $1,230 initially. Later, the yellow metal will keep on falling towards $1,224 and $1,210. On the other side, it has resistance at $1,240, above this $1,258 will act as major resistance. Until the metal closes above $1,276, sell on every up move. Today, the metal opened below the previous day close; it means that weakness is still keeping in the metal. For an intraday trading view, the metal has support at $1,231 below this at 1220; 1210 is the support level. The metal is facing strong resistance between 1240-1242 in h4 chart. Above this, the metal can move upwards to the $1,249 and $1,250 levels. We can see a sharp upmove only above $1,254.85 (rounded to $1,255), safe buy will be triggered only above $1,255 with the target at $1,260. Until a h4 candle closes above $1,255, selling on upmove will mint the money. Fresh sell will be possible below $1,231 towards the $1,220 and $1,210 levels.

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

 

[bhanu545]

Technical analysis of Silver for September 12, 2014

Technical outlook and chart setups:
Silver pushes through $18.60 levels taking stops out for now. The metal exposes the $18.20 lows at the moment, and a break there could see lower levels into $17.00 and below levels. It is recommended to remain flat for now and watch out for a reaction at the support line depicted here. Please, note that Silver remains in a larger consolidation on the weekly chart view and a bullish bounce from the support line now could revive prices all the way towards the $21.00 levels. On the flip side, a break below would be extremely encouraging for bears and push prices through the $17.00 levels. Immediate support is now seen at $18.20 levels, while resistance is seen at $19.90/$20.00 levels respectively.
Trading recommendations:
Remain flat for now. Good luck!

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

 

[bhanu545]

Weekly technical levels of EUR/USD for September 15-19, 2014

Overview:
The EUR/USD pair broke major support at the price of 1.3009 last week. But the level of 1.3009 has become strong resistance for September 15-19, 2014. Also, it should be noted that the weekly pivot point is calculated at 1.2933 and the pair is now moving from it. Therefore it will probably start an downside movement at this area and recover again. So, the market will indicate a bearish opportunity at the level of 1.2933 and it will be a good sign to sell at this spot with the first target of 1.2890, and continue towards 1.3858 in order to test the double bottom. On the other hand, if a break of 1.3009 happens, then it will be a good location for placing stop loss.
Trading recommendations:
According to previous events, the price of EUR/USD pair has still been moving between 1.2950 and 1.2905.
Below the level of 1.2933, look for further downside with the 1.2890 and 1.2800 targets.
The stop loss should be set at the price of 1.3030.

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

 

[bhanu545]

Weekly technical levels of GBP/USD for September 15-19, 2014

Forecast:
According to the previous events, the price of the GBP/USD pair has still been trapped between the levels of 1.6280 and 1.6190. The level of 1.6198 is representing the weekly pivot point. Also, it should be noted that the weekly pivot point is coinciding with the ratio of 61.8% Fibonacci retracement levels. So, sell (sell stop) below 1.6198 in the short term with the first target of 1.6120 in order to test the weekly support 1, it might resume to 1.6051 (the double bottom) if the trend will be able to break the weekly support 1 at 1.6120. The stop loss should never exceed your maximum exposure amounts.

Review:
If the trend is of an upside character, then the strength of the currency will be defined as following: GBP is an uptrend and USD is a downtrend.
Major support for September 15-19, 2014: 1.5980.
Major resistance for September 15-19, 2014: 1.6423.
We expect a new range about 180 pips this week.

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

 

[bhanu545]

Technical analysis of USD/JPY for Sep 15, 2014

Fundamental Overview:
USD/JPY is expected to consolidate with bullish bias after hitting near-six-year high 107.39 on Friday. Financial markets in Japan were shut today for a public holiday. USD/JPY is underpinned by the positive USD sentiment on higher-than-expected preliminary University of Michigan U.S. September consumer sentiment index of 84.6 (versus forecast 83.0 and final-August 82.5); higher U.S. Treasury yields (10-year at 2.609% versus 2.551% late Thursday) as market participants anticipate a more hawkish tone from the Federal Reserve in its policy statement on Wednesday. USD/JPY is also supported by the sell-yen orders from Japan importers. But USD sentiment are dented by the less-than-expected 0.6% increase in U.S. August retail sales (versus forecast +0.7%). USD/JPY gains are also tempered by the buy-yen orders from Japan exporters, weaker risk appetite after data released Saturday showed growth in China's industrial production slowed more than expected to six-year low of +6.9% on-year in August (versus forecast +8.7%) from +9.0% in July, while electricity production fell 2.2% on-year for first decline in four years.
Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at 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 107.50 and the second target at 107.85. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 106.60. A break of this target would push the pair further downwards and one may expect the second target at 106.20. The pivot point is at 106.90.
Resistance levels: 107.50 107.85 108.15
Support levels: 106.60 106.20 106

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

 

[bhanu545]

Technical analysis of Gold for September 15, 2014

Technical outlook and chart setups:
Gold has been hammered down to $1,225.00/26.00 levels as seen here. Please note that the metal is looking to stall around the fibonacci 0.786 support of the entire rally between $1,182.00 ti $1,388.00 levels as depicted here. A bullish bounce could be expected here, but we shall wait for a daily confirmation signal. On the flip side, a break below $1,225.00 would open doors to re-test December 2013 lows at $1,180.00 levels again. The overall weekly structure still indicates larger consolidation with support around the $1,180.00 region. A break below $1,180.00 would be extremely bearish, and the metal could test $1,030.00/50.00 levels before reversing.
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 15, 2014

Overview
Based on the H4 chart, silver is still stabilizing below the Resistance level of 18.75 after its rebound from the Support level of 18.50 last week. If silver reverses its bullish move due to this Resistance level and manages to break the Support level of 18.50, this would give a strong indicator to continue the downward move and open the way towards the Support level of 18.30, then we should wait for the breakout of this level to continue the bearish move. On the other hand, if the pair couldn't break the Support level of 18.50 and reverses its downward move, it may be a good opportunity for a bullish signals enabling the Resistance level of 18.75 again. The breakout of this Resistance level will denote a bullish strength providing new buy-signals from this level till reaching the Resistance area of 19.00-19.20 .
Resistance and support levels: R3 (19.20), R2 (19.00), R1 (18.75), S1 (18.50), S2 (18.30), S3(18.00)

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for September 16, 20

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.
The current medium-term bearish trend remains intact as long as bears keep defending the price zone of 1.3170-1.3270 (the price zone between 38.2% and 50% Fibonacci levels ).
On the other hand, bearish slide below 1.2855 invalidates the mentioned bullish reversal pattern. Thus, bearish decline towards 1.2745 would be expected then.

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