Technical analysis on EU,GU and majors

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Intraday technical levels and trading recommendations on GBP/USD for September 22,

The GBP/USD pair has been down-trending for almost one month. Moreover, evident bearish momentum keeps pushing lower without significant bullish correction. As expected, bullish fixation above price level of 1.6150 ( Tuesday's highest level ) and 1.6275 (neckline of the 123 reversal pattern) allowed a bullish corrective move to take place towards 1.6350 and 1.6410 ( 61.8% Fibonacci Levels ). This bullish movement was enhanced by the updates in the independence of Scotland voting, which showed the superiority of the votes that said "no" and therefore Scotland will remain in the United Kingdom. Technically, a valid SELL entry is suggested at retesting of price levels around 1.6410. 4H fixation below 1.6330 is essential to pursue the current bearish movement.

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

 

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Technical analysis of Gold for September 22, 2014

Technical outlook and chart setups: Gold is nearing its major support region around the $1,180.00/$1,200.00 levels. The metal has made fresh intraday lows at $1,208.00 today before bouncing back to $1,215.00 at the moment. The overall structure still reveals that bulls could regain control ahead of $1,200.00 levels. Furthermore, please note that $1,180.00 is major consolidation support area where bulls are expected to bounce back. Immediate resistance is seen at $1,240.00 levels, followed by $1,273.00/75.00, $1,296.00 and higher up while immediate support is around $1,200.00 followed by $1,180.00 levels respectively. It is recommended to wait for a reversal confirmation before, going aggressively long here.
Trading recommendations: Remain flat for now. Looking to go long again. Good luck!

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

 

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Technical analysis of Silver for September 22, 2014

Technical outlook and chart setups: Silver prints fresh lows today around $17.30/35 before bouncing back sharply towards $17.80 levels as seen here. The metal is forming a hammer on the daily chart at the moment, indicating a potential pullback or reversal ahead. Immediate support is seen at the $17.05 level followed by $16.50 while resistance is seen at $18.60/70 (previous support turned into resistance), followed by $19.50, $20.00 and higher respectively. It is recommended to wait for a bottom and reversal signal on the daily chart view for now. On a larger time frame, (not shown here), the metal is at a fibonacci 0.786 support level of the entire rally from $08.00 to sub $50.00. A reversal here would be constructive for bulls to resume the larger upswing. Aggressive short positions could be avoided at the moment.
Trading recommendations: Remain flat for now. Good luck!

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

 

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USD/CAD intraday technical levels and trading recommendations for September 22, 2014

Last week, the USD/CAD pair has established a recent consolidation zone between 1.0990 - 1.0850. Four-hour fixation above price zone of 1.0990-1.1025 (50% Fibonacci level) confirmed the bullish flag pattern mentioned above offering a valid BUY entry.
On Friday, another opportunity to BUY the pair existed around 1.0980-1.0950 as the pair is currently retesting the previously broken resistance zone (it should act as support).
Projection targets are located initially around 1.1235 - 1.1270. SL should be located below 1.0930.
On the other hand, a bearish head and shoulders pattern is being established on the 4H chart. Any bearish fixation below 1.0900 confirms the reversal. Thus, the buyers should be careful with their long positions around the current levels.

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

 

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Technical analysis of USD/JPY for September 23, 2014

Technical outlook and chart setups: The USD/JPY looks to be setting up for a correction into 105.20/30 levels at least before rallying higher towards fresh highs. Please note that 105.20/30 is also resistance turned into support as depicted here on the daily chart view. The USD/JPY pair has has potential to push through 110.00 levels and higher as well, but a meaningful correction could be due for now. Immediate support is seen at 106.20/30 (fibonacci), followed by 105.20, 103.00 and lower, while resistance is at 109.40/50 (interim) for now. It is recommended to remain flat for now and initiate long positions on a dip. Aggressive trade setup is to initiate short positions now, risk remains above 109.50.
Trading recommendations:
Aggressive trade setup is to go short now (108.60), stop above 109.50, target 105.40/50. Conservative trade setup is to remain flat, look to buy lower around 105.20/30. Good luck!

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

 

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Technical analysis of GBP/USD for September 23, 2014

Technical outlook and chart setups:
The GBP/USD is already set to have resumed a structural bull run since 1.4800 levels (a double bottom was confirmed in July 2013) as seen on the daily chart view here. Since July 2014, the pair has been correcting itself and it looks like it has just completed its first corrective leg at the 1.6100 level before bouncing back. The current rally could extent up to the 1.6800/1.6900 levels before the pair resumes the final corrective wave towards 1.5700/50 levels. Please also note that 1.5700/50 levels converge with the fibonacci 0.618 support of the entire rally from 1.4800 to 1.7100 as depicted here. It is recommended to initiate long positions around 1.6250/1.6300 levels, for an extended pullback higher.
Trading recommendations:
Flat for now, look to enter long around 1.6250/1.6300, stop below 1.6100, target 1.6800/1.6900. Good luck!

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

 

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Intraday technical levels and trading recommendations on EUR/USD for September 23, 20

The current short-term bearish trend remains intact as long as bears keep defending the price zone around 1.2995 (the recent weekly high). Moreover, another descending high was established Today around 1.2920.
Bearish slide below 1.2820 invalidates the possibility of a bullish reversal. Thus, bearish decline towards 1.2750 and 1.2680 would be expected then ( A bearish Flag pattern ).

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

 

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Gold analysis for September 23, 2014

Overview: Since our last analysis, gold has been trading upwards. The price tested the level of 1,234.73. According to the 4H time frame, we can observe testing of our Fibonacci retracement 61.8% at the price of 1,229.00. If the price breaks the level of 1,229.00 in an high volume, we may see potential testing the level of 1,240.00 (swing high like resistance). Anyway, if the price rejects from our Fibonacci retracement 61.8% we may see possible bearish continuation.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,220.56 R2: 1,223.44 R3: 1,228.10
Support levels S1: 1,211.24 S2: 1,208.34 S3: 1,203.70
Trading recommendations:
Buying still looks risky since price is near the resistance level.

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

 

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Technical analysis of Silver for September 23, 2014

Technical outlook and chart setups:
Silver produced a doji(hammer) yesterday after printing lows at $17.30 levels. This could be an indication of a potential reversal or a pullback due, into the $18.60 and $19.00 levels. Also note that past support turned resistance zone is around the same levels, as depicted here. The metal needs to clear at least $20.00 (break out of the immediate line of resistance) levels to confirm a further push towards $21.20/30. It the metal reverses fro around $18.60/$19.00 levels, potential remains of yet another low below $17.00 levels before reversal. It is recommended to wait for a bullish reversal confirmation on the daily chart view, to turn long.
Trading recommendations:
Remain flat for now. Look to initiate longs again on confirmation. Good luck!

Performed by Nicola Delic, Analytical expert
InstaForex Group © 2007-2014

 

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Intraday technical levels and trading recommendations on EUR/USD for September 24, 20

The current short-term bearish trend remains intact as long as bears keep defending the price zone around 1.2995 (the recent weekly high). Moreover, another descending high was established Today around 1.2920.
Bearish slide below 1.2820 invalidates the possibility of a bullish reversal. Thus, bearish decline towards 1.2750 and 1.2680 would be expected then ( A bearish Flag pattern ).

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

 

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GBP/USD intraday technical levels and trading recommendations for September 24, 2014

Two successive bearish impulses were initiated around 1.7180 and 1.6630 corresponding to the trend line.
Price level of 1.6140 constitutes a prominent weekly support to meet the pair. Bullish rejection was witnessed in the recent daily candlesticks ( note the bullish engulfing daily candlestick which emerged on Thursday). This led to a bullish weekly closure ( above the weekly support level around 1.6250 ).
Retracement towards the price zone of 1.6350-1.6400 took place as expected 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 1.6460.
This price zone corresponds to the upper limit of the depicted channels as well as prominent Fibonacci level of the recent bearish impulse between 1.7180 and 1.6060.
This probably offers a valid SELL opportunity as long as the bears keep defending price zone of 1.6480-1.6530 ( 38.2% Fibonacci level and previous bottom ).

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

 

[bhanu545]

Technical analysis of USD/JPY for Sep 24, 2014

Fundamental Overview:
USD/JPY is expected to trade in a higher range. It is underpinned by the broad USD strength amid escalation of risk aversion as the U.S. stepped up its involvement in Syria in the fight against Islamic State militants. USD sentiment is also boosted by the Markit flash U.S. September manufacturing PMI coming in at 57.9, unchanged versus August's reading and keeping the index at a 52-month high and rise in U.S. Richmond Fed manufacturing index to 14 in September from 12 in August. USD/JPY is also supported by the ultra-loose Bank of Japan's monetary policy and demand from Japan importers. But USD/JPY gains are tempered by the Japan exporter sales, lower U.S. Treasury yields (10-year at 2.527% versus 2.567% late Monday), selling of yen crosses amid decreased risk appetite (VIX fear gauge rose 9.06% to 14.93, S&P 500 fell 0.58% overnight) as investors' concern mount over global economic growth after a gauge of activity in the eurozone's manufacturing and services sectors for September fell to its lowest level for the year.
Technical comment: Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at 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 109.10 and the second target at 109.45. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 108.15. A break of this target would push the pair further downwards and one may expect the second target at 107.65. The pivot point is at 108.45.
Resistance levels: 109.10 109.45 110
Support levels: 108.15 107.65 107.10

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

 

[bhanu545]

Gold Technical analysis for September 24, 2014

Gold price has given a short-term buy signal yesterday after breaking above $1,230 resistance. Gold price has spiked just above $1,234 and pulled back towards $1,220-25 support area. The short-term trend has changed to bullish and we could see a stronger bounce towards $1,250 as long as we trade above $1,215. goldh4.jpg

Blue line = Long-term support
Gold price in the daily chart as shown above is trying to bounce towards the 38% retracement of the decline from $1,295. It is highly probable to see a push towards $1,250 but traders should keep in mind that the trend remains bearish and betting against the trend is always riskier than following the trend. I prefer to stay neutral for now and wait to see if Gold price reaches $1,250 or if it breaks below the key support at $1,215-10.

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

 

[bhanu545]

Daily analysis of Silver for September 24, 2014

Overview
In the today's H4 chart, silver has stabilized above the Support level of 17.50 and could not break it. Currently, it is bouncing towards the Resistance level of 17.75 to test it. So we still suggest waiting for closing above the Resistance level to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 18.00, then after breaking this Resistance level, silver would open the way towards the Resistance level of 18.30, which means more bullish signals, but as long as the metal trades below the Resistance level of 17.75 this cancels the bullish scenario.
Resistance and support levels: R3 (18.30), R2 (18.00), R1 (17.75), S1 (17.50), S2 (17.30), S3(17.00).

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

 

[bhanu545]

Technical analysis of USD/JPY for Sep 25, 2014

Fundamental Overview:
USD/JPY is expected to trade in a lower range. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 85.06 versus 84.70 early Wednesday) and yen-funded carry trades amid improved investor risk appetite (VIX fear gauge eased 11.12% to 13.27; S&P 500 rose 0.78% to close at 1,998.3 overnight) on larger-than-expected 18% on-month increase in U.S. August new home sales to 504,000 for the biggest one-month jump since 1992 and the highest level of sales since May 2008 (versus forecast +3.4%). USD/JPY is also supported by ultra-loose Bank of Japan's monetary policy, demand from Japanese importers and higher U.S. Treasury yields (10-year at 2.565% versus 2.533% late Tuesday). But USD/JPY gains are tempered by the Japanese export sales.
Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at the overbought zone, 5 and 15-day moving averages are advancing.
Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 108.45. A break of this target will move the pair further downwards to 108.20. The pivot point stands at 109.40. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 109.70 and the second target at 110.
Resistance levels: 109.70 110 110.35
Support levels: 108.45 108.20 107.65

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

 

[bhanu545]

Technical analysis of EUR/USD for September 25, 2014

Trading recommendations:
The price of the EUR/USD pair has still bben trapped between 1.2773 and 1.2700. The level of 1.2775 will indicate strong resistance; moreover, the price will form a double top at this level. Therefore, it will be quite profitable to sell at 1.2775 again (short term) with the first target at 1.2733, then it will continue towards 1.2680. Also, it should be noted that a strong support has placed at 1.2668 in the H1 chart. On the other hand, if the price closes above the resistance then the best location for placing a stop loss should be above 1.2790. In addition, please be aware that the trend has broken the weekly support 1 and 2, for that it calls for a bearish market. Equally important is that the RSI and the Moving Average (100) are still calling for a downtrend.
Intraday technical levels:
Date and Time:25/09/2014 11:41
Pair:EUR/USD
R3: 1.2914 R2: 1.2884 R1: 1.2832
PP: 1.2802
S1: 1.2750 S2: 1.2720 S3: 1.2668

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

 

[bhanu545]

Daily analysis of GBP/USD for September 25, 2014

H1 chart: The GBP/USD has had a sharp decline from the level of 1.6415 and now this pair is consolidating below the resistance level of 1.6375. The GBP/USD is trying to form a lower low pattern above the 200 SMA. If GBP/USD manages to make a breakout at the support level of 1.6338, it would be expected to fall to the level of 1.6291. The MACD indicator remains in negative territory.

Trading recommendations for today:
Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6375, take profit is at 1.6419, and stop loss is at 1.6329.

Performed by Felipe Erazo, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of Gold for September 25, 2014

Technical outlook and chart setups:
Gold is looking to form a higher low ahead of $1,208.00 levels for now. Please note that it is on the fibonacci 0.786 support of rally between $1,208.00 and $1,234.00. Furthermore, the metal is probing the backside of resistance turned support trend line as well. A bullish reversal signal here would ensure that Gold would rally towards at least $1,250.00 levels if not further high. It is recommended to stay long for now since bulls should remain in control till $1,208.00 levels remain intact. Only a fall below $1,208.00 should be a concern to the bullish setups and warn a test and possible break below $1,180.00/85.00 levels.
Trading recommendations:
Remain long, stop at $1,203.50, target is at least $1,250.00. Good luck!

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

 

[bhanu545]

Daily analysis of Silver for September 25, 2014

Overview
According to the shown H4 chart, the price's close below the level of 17.75 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 17.50 as the first target, then the metal should test the Support level of 17.30 to get more bearish move till reaching the support level of 17.00 as the second target. On the other hand, the metal's rebound from the Support level of 17.50 cancels bullish scenario.
Resistance and support levels: R3 (18.30), R2 (18.00), R1 (17.75), S1 (17.50), S2 (17.30), S3(17.00).

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for September 26, 20

The current short-term bearish trend remains intact as long as bears keep defending the price zone around 1.2995 (the recent weekly high). Moreover, another descending high was established on Wednesday around 1.2920.
Bearish slide below 1.2820 invalidated the possibility of a bullish reversal. Thus, bearish decline towards 1.2750 and 1.2680 took place shortly after achieving the projection targets of the bearish flag pattern.
Careful watching of price action around the current price levels is essential to determine the next destination of the EUR/USD pair.
In case the bulls initiate a corrective movement around the lower limit of the channel being tested today, the first target levels to be visited should be located around 1.2940 and 1.3060.

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