Technical analysis on EU,GU and majors

[bhanu545]

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

The GBP/USD pair has been down-trending for almost six weeks. 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 ).
The updates that Scotland will remain in the United Kingdom allowed the bullish spike towards 1.6515 to take place on Friday. However, immediate bearish rejection was expressed shortly after.
Technically, a valid SELL entry was suggested at retesting of price levels around 1.6410. This position is running in profits now. 4H fixation below 1.6330 is essential to pursue the current bearish movement.
This is enhanced by the successive lower highs being expressed on the 4H chart during the past few days.

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

 

[bhanu545]

Technical analysis of USD/JPY for Sep 26, 2014

Fundamental Overview:
USD/JPY is expected to consolidate in a lower range. It is undermined by the unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 17.86% to 15.64, S&P 500 closed 1.62% lower at 1,965.99 overnight) as concerns linger over global economic growth and geopolitical tensions--data this week pointed to stagnating growth across Europe and China, Bank of England Gov. Mark Carney said Thursday the first interest-rate hike is inching closer, a bill introduced in Russia's parliament Wednesday would allow the government to take control of foreign assets on Russian soil, compensating Russians when their property is seized elsewhere as Western sanctions take their toll. USD/JPY is also weighed by the larger-than-expected 18.2% on-month drop in August durable goods orders (versus forecast minus 17.5%), lower U.S. Treasury yields (10-year at 2.504% versus 2.569% late Wednesday) and Japan exporter sales. But USD/JPY losses are tempered by the fewer-than-expected 293,000 U.S. jobless claims in week ended Sept. 20 (versus forecast 296,000) and the positive dollar sentiment (ICE spot dollar index last 85.19 versus 85.06 early Thursday) as the U.S. economy outperforms other major economies, ultraloose Bank of Japan's monetary policy and demand from Japanese importers and positions adjustment before the weekend.
Technical comment:
Daily chart is mixed as MACD is bullish, but stochastics is turning bearish at overbought zone.
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 108.80. A break of this target will move the pair further downwards to 108.45. The pivot point stands at 109.50. 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: 108.80 108.45 108.20

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

 

[bhanu545]

Gold : analysis for September 26, 2014

Overview:
Since our last analysis, gold has been trading upwards. The price tested the level of 1,231.12. According to the 4H time frame, we can observe strong rejection again from our Fibonacci retracement 61.8% at the price of 1,229.00, which caused price to start with downward movement. According to previous price action, we got support level at the price of 1,208.00 (swing low like support). If the price breaks the level of 1,208.00 in an high volume, we may see potential testing the level of 1,194.00.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,225.07 R2: 1,229.49 R3: 1,236.63
Support levels S1: 1,210.79 S2: 1,206.37 S3: 1,199.23
Trading recommendations:
Buying still looks risky since we got strong rejection from our Fibonacci retracement 61.8%

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

 

[bhanu545]

Daily analysis of Silver for September 26, 2014

Overview
As it is seen from today's 4H chart, the metal is stabilizing above the support level of 17.50 after its failure to break the support level of 17.30 and has bounced from it. Currently, we should wait for retesting of the support level of 17.50again 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 17.30. 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 17.50, this cancels the bearish move 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]

Fundamental analysis and intraday recommendations on EUR/USD for September 29, 2014

For an intraday view, the prices are below 12ema and 34hrsma. Whenever the pair rises, the 34hrsma acts as strong hurdle and pushes it to new lows from there. The pair hourly and intraday resistance is at 1.2730 12ema, 1.2765 21hsma and 1.28 34hrsma. Until the prices close below 1.28, selling on every upmove will mint the money. The panic will be triggered below 1.266 towards 1.26 and 1.25 in the near term.

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

 

[bhanu545]

Weekly technical levels of GBP/USD for September 29, 2014

Trading recommendations: According to the previous events, the price of GBP/USD pair has still been trapped between the levels of 1.6235 and 1.6300. Also, it should be noted that the psychological level is at 1.6300 which represents the weekly pivot point on the 19th of September 2014.
Buy above the weekly support 1 at 1.6184 with the first target at 1.6280 in order to test the weekly pivot point, it might resume to 1.6315 in case the trend will be able to break the level of 1.63.
Another outlook: Below the resistance which sets at the level of 1.6366, look for further downside with 1.6305 and 1.62 targets. It should be noted that a double bottom will be formed at the level of 1.6161 in H1 chart.

Warning: Stop loss should never exceed your maximum exposure amounts.
Risk to reward ratios are important and should be calculated.
Example:
A risk reward ratio of 1:1.5 is recommended: Risk: 118 pips should make a profit of 177 pips. 118 pips * 1:1.5 = 177 pips.

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

 

[bhanu545]

Technical analysis of USD/JPY for September 29, 2014

In Asia, Japan will not release any economic news, but the US will release some economic data such as ore PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Pending Home Sales m/m. So there is a big probability the USD/JPY will move with low volatility during the day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 109.96.
Resistance. 2: 109.75.
Resistance. 1: 109.53.
Support. 1: 109.26.
Support. 2: 109.05.
Support. 3: 108.83.

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

 

[bhanu545]

Gold Technical analysis for September 29, 2014

Gold price has held support at $1,207 on Friday and made a higher low at $1,212. Short-term trend is sideways and I prefer to stay neutral for now. My longer-term view remains bearish. My target remains at $1,000. We first need to break below $1,180. This will strengthen our bearish scenario.

Red line= resistance
Blue line = support
In the 30-minute chart, we see the higher low made on Friday and this could signal a move towards $1,225-30 where resistance is found. Gold price is forming a sideways triangle as long as it trades between $1,233 and $1,212. The triangle is getting narrower and we should soon expect a break out. I prefer to stay neutral and wait for the break out before opening a position. A longer-term trend remains bearish, so we should also keep in mind that opening a long position is against the larger trend.

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

 

[bhanu545]

Technical analysis of Silver for September 29, 2014

Technical outlook and chart setups:
Silver remains locked between $17.30 and $18.00 since a few days as seen here. The trend remains bearish with Silver clearly trading in the sell zone at the moment. A push below $17.30 levels would see further lows into $16.00. Immediate support remains at $17.30 (interim) while resistance is seen at $18.00 (interim), followed by $18.60/90 and above respectively. The metal needs to clear $18.00 at least, for bulls to regain control. Furthermore, a break above the sloping trend line, which is passing through $18.90 levels for now, would instill further confidence in the bullish setup.
Trading recommendations: Remain flat for now.
Good luck!

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

 

[bhanu545]

Technical analysis of EUR/USD for September 30, 2014

When the European market opens, some economic news will be released such as German Retail Sales m/m, French Consumer Spending m/m, French Consumer Spending m/m, German Unemployment Change, Italian Monthly Unemployment Rate, CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate, Italian Prelim CPI m/m. The US will release the economic data too such as the S&P/CS Composite-20 HPI y/y, Chicago PMI, CB Consumer Confidence, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2750.
Strong Resistance:1.2742.
Original Resistance: 1.2730.
Inner Sell Area: 1.2710.
Target Inner Area: 1.2688.
Inner Buy Area: 1.2658.
Original Support: 1.2646.
Strong Support: 1.2624.
Breakout SELL Level: 1.2626.

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

 

[bhanu545]

Intraday trading recommendations for GBP/USD for September 30, 2014

For an intraday move, the pair has been facing strong resistance at 12ema or 1.6275 above this, 1.6320 will act as strong resistance. On the downside, it has support at 1.6225 and 1.6215 below these, selling pressure will lead in this pair towards the 1.62,1.6185, and 1.6160 levels.
Safe buy above 1.6320, risky traders buy at 1.63.
Sell below 1.6215.

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

 

[bhanu545]

Technical analysis of USD/JPY for September 30, 2014

In Asia, Japan will release the Household Spending y/y, Unemployment Rate, Prelim Industrial Production m/m, Retail Sales y/y, Average Cash Earnings y/y, Housing Starts y/y and the US will release some economic data such as S&P/CS Composite-20 HPI y/y, Chicago PMI, CB Consumer Confidence. So there is a big probability the USD/JPY will move with low to medium volatility during the day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 109.98.
Resistance. 2: 109.77.
Resistance. 1: 109.55.
Support. 1: 109.28.
Support. 2: 109.07.
Support. 3: 108.85.

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

 

[bhanu545]

Gold Technical analysis for September 30, 2014

Gold price remains unable to make a strong bounce. Although price remains above critical short-term support at $1,207, the sideways move will soon be over with more chances favoring the bearish scenario for a push lower towards $1,180. Short-term trend is neutral while intermediate- and long-term trend remain bearish.

Blue line = support
Red line = resistance
In the 30-minute chart as shown above, the short-term trend line that was upward sloping has been broken. Price is below the Ichimoku cloud and as long as support at $1,212 holds, bulls still have a chance of a break out towards $1,240. I remain longer-term bearish and I believe that short-term traders should only look for selling opportunities and signals.

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

 

[bhanu545]

Daily analysis of Silver for September 30, 2014

Overview
The 4H chart demonstrates that silver is going take an upward move after its rebound from the Support level at 17.00 and currently is approaching the Resistance level of 17.30 trying to break it through to continue its bullish move. More buy signals would be provided in case of closing the 4H above this Resistance level with first target few pips below the Resistance level of 17.50, then we should wait for closing above this Resistance level too to get more bullish signals. Therefore, presently, we recommend waiting for breaking the Resistance level of 17.30 before making the decision. But as long as the price is trading below the Resistance level this cancels the first scenario.
Resistance and support levels: R3 (18.00), R2 (17.75), R1 (17.50), S1 (17.30), S2 (17.00), S3(16.75).

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

 

[bhanu545]

Technical analysis of EUR/USD for October 1, 2014

Overview:
A bearish outlook of the EUR/USD pair on the 1st of October 2014. So, according to the previous events, the EUR/USD pair has still been moving between 1.2636 and 1.2571. The prices of 1.2636 and 1.2571 will represent the ratio of 50% Fibonacci retracement levels and the double bottom respectively. It should be noted that the key level is set at the level of 1.2620. Equally important, the resistance will be formed at the area of 1.2620 / 1.2636 levels. As it is know, history will probably repeat itself at this level again. Therefore, it will be a good sign to sell below 1.2620 / 1.2636 with the first target of 1.2571 in order to retest the double bottom again. Moreover, it will call for a downtrend to continue its bearish movement towards 1.2536. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed above the last bearish wave (1.2640) at the price of 1.2675.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for October 1, 2014

Overview: On July 15, extensive bearish impulse was initiated. Since then, the GBP/USD pair has been down-trending below the depicted downtrend line.
Two bearish impulses were previously initiated around 1.7180 and 1.6630 corresponding to the downtrend line.
The price level of 1.6140 constituted a prominent weekly support to meet the pair. Bullish rejection was witnessed in the previous visit. This led to 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 being established applied as expected in previous articles.
This price zone corresponds to the upper limit of the depicted channels as well as Fibonacci level of the recent bearish impulse between 1.7180 and 1.6060.
Trading recommendations:
Based on the previous data, the market offered a valid SELL opportunity around 1.6460 during last week's consolidations.
This short position remains valid as long as the bears keep defending price zone of 1.6250-1.6320 ( 23.6% Fibonacci level and previous broken bottom ).Hence, Stop Loss should be located slightly above these price zone. This secures some of the profits.
Bearish targets are located around 1.6160 and 1.6080.

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

 

[bhanu545]

Technical analysis of USD/JPY for October 01, 2014

Fundamental Overview:
USD/JPY is expected to consolidate with a bullish bias after hitting a six-year high 109.86 on Tuesday. It is underpinned by the positive dollar sentiment (ICE spot dollar index hit four-year-high 86.218 Tuesday, last at 85.93 versus 85.62 early Tuesday) on relatively hawkish Federal Reserve's monetary policy and outperformance of the U.S. economy versus other major economies. USD/JPY is also supported by the demand from Japanese importers, higher U.S. Treasury yields (10-year at 2.495% versus 2.479% late Monday) and weak yen sentiment on surprise 1.5% on-month drop in Japan's August industrial production (versus forecast +0.3%) and ultra-loose Bank of Japan's monetary policy. But USD sentiment is dented by the bigger-than-expected drop in Conference Board U.S. consumer confidence index to 86.0 in September from a revised 93.4 in August (versu forecast 92.8), worse-than-expected drop in U.S. ISM-Chicago PMI to 60.5 in September from 64.3 in August (versus forecast 62.0). USD/JPY gains are tempered by Japanese export sales and diminished investor risk appetite (VIX fear gauge rose 2.07% to 16.31, S&P 500 slipped 0.28% overnight to close at 1,972.29) amid caution ahead of the European Central bank's interest rate decision Thursday and U.S. non-farm payrolls data Friday, while pro-democracy protests in Hong Kong (crowds expected to increase Wednesday as two-day holiday starts) and lower final HSBC China September manufacturing PMI of 50.2 versus preliminary reading of 50.5 added to concerns over global economic outlook.
Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at the overbought zone, five 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 110.30. A break of this target will move the pair further downwards to 110.55. The pivot point stands at 109.50. 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 109.20 and the second target at 108.80.
Resistance levels: 110.30 110.55 110.85
Support levels: 109.20 108.80 108.50

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

 

[bhanu545]

Gold Wave analysis for October 1, 2014

Gold price had a very volatile session yesterday. It made a new lower low at $1,204 and then spiked up towards $1,220 and today is back down below $1,210. Selling pressures continue and do not let the precious metal push above resistance. The trend remains bearish and it is very probable to see a test of $1,180 very soon.

I continue to believe we have started wave 5 down and we should soon see a break of the lows at $1,180. I expect Gold price to move towards $1,000 as I believe we are making impulsive waves down and the corrective sideways move is over. The trend is clearly bearish and price even in the weekly chart as shown above is below the Ichimoku cloud after being rejected and confirming our bearish view.

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

 

[bhanu545]

Daily analysis of Silver for October 01, 2014

Overview
As shown in the today's H4 chart, the metal failed to break the Support level of 16.80 to reverse its downward trend and is trading between the Support level of 17.00 and below the Resistance level od 17.30. Currently, it is testing the Resistance level and starting the bullish move. So we still suggest waiting for closing above the Resistance level of 17.30 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 17.50. Then after breaking this Resistance level, silver would open the way towards the Resistance level of 17.75, which means more bullish signals, but as long as the metal trades below the Resistance level of 17.00 this cancels the bullish scenario.
Resistance and support levels: R3 (17.50), R2 (17.30), R1 (17.00), S1 (16.80), S2 (16.50).

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for October 2, 2014

The current short-term bearish trend remains intact as long as bears keep defending the price zone around 1.2870 (the recent consolidation zone).
The bearish slide below 1.2820 invalidated the possibility of a short-term bullish reversal.
Careful watching of price action around the current price levels is essential to determine the next destination of the EUR/USD pair.
Recommendation :
A conservative trader should wait for daily closure again inside the channel to look for long positions.
In case the bulls initiate a corrective movement around the lower limit of the channel being breached today, the first target levels to be visited should be located around 1.2870 and 1.2940 where the upper limit of the channel and significant Fibonacci level are located.

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