Technical analysis on EU,GU and majors

[bhanu545]

Technical Analysis of GBP/USD for November 18, 2014

The pound has been continuously losing its winning streak for the 4th day in a row. The key trigger for the pound is inflation. Today, the inflation report will decide the fate of this pair. The delay in the UK interest rate hike is putting pressure on the pound sterling. We are extending the lower targets to 1.5500, 1.5450, and 1.5430. The pair favors selling on a rise. The monthly resistance exists at 1.6030 or 50M sma. The pair has weekly resistance exists at 1.5800, above this we can expect 1.5875 and 1.6025. The prices are making a minor base at the 1.5620 levels. The prices fell below the 3-week trading channel. In the US dollar front today, CPI data put pressure on the pound. Any positive readings will push the pair towards new lows. The cable has resistance at 1.5650 or 35DEMA; above this at 1.5670 or 12ema which will act as a major resistance level for an intraday session. Until the prices close above 1.5766, bears have an upper hand. We recommend fresh selling below 1.5630 with the targets at 1.5620, 1.5600, 1.5540, and 1.5500. Safe traders can start selling below the 1.5620 levels.
Trade: Selling below 1.5630, safe selling below 1.5620.

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

 

[bhanu545]

Technical analysis of USD/CHF for November 18, 2014

Trading recommendations:
According to the previous events, the price of the USD/CHF pair probably is going to move between the levels of 0.9656 and 0.9550. Resistance has already set at the level of 0.9660 and support stands at the level of 0.9550. Hence, we expect a range of 97 pips in the coming two day. Additionally, it should be noted that if the trend is descending, then the strength of the currency will be defined as following: USD is in a downtrend and CHF is in an uptrend. Therefore, it will be of the insight to sell in this area of 0.9656 with the first target at 0.9594 in order to try breaking the daily pivot point which coincides with the ratio of 61.8% Fibonacci retracement levels. Then, the price will be able to continue in the downtrend towards 0.9550 (The double bottom will be formed at the level of 0.9550 in H4 chart). On the other hand, the stop losses should be placed above 0.9570.
Intraday technical levels:
Date:18/11/2014
Pair:USD/CHF
R3: 0.9785 R2: 0.9720 R1: 0.9683
PP: 0.9594
S1: 0.9581 S2: 0.9516 S3: 0.9479

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

 

[bhanu545]

Technical analysis of USD/JPY for November 18, 2014

In Asia, Japan will not release any economic news data. However, the US will release some economic data such as PPI m/m, Core PPI m/m, NAHB Housing Market Index, and TIC Long-Term Purchases. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 117.09. Resistance. 2: 116.86. Resistance. 1: 116.63.
Support. 1: 116.35. Support. 2: 116.12. Support. 3: 115.89.

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

 

[bhanu545]

Gold Technical analysis for November 18, 2014

Gold price has broken above the short-term consolidation price range it traded on Monday. Now, above $1,193 it is possible to move towards the 61.8% retracement of the decline from $1,255. This is still considered a corrective bounce of the decline and I still believe the longer-term trend remains bearish with $1,050 as a target.

Blue lines = support
Short-term support levels at $1,185 and $1,182 are critical for the short-term trend. A break below those two levels will be a sign of weakness and that the upward move from $1,145 has finished. I believe we are at the final stages of the upward bounce from $1,130 and that the downtrend will soon resume. Prefer to play it safe and go short only on signs of weakness.

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

 

[bhanu545]

Technical analysis of EUR/USD for November 19, 2014

Overview:
Support of the EUR/USD pair has already set at 1.2441 since November 17, 2014. Support coincides with ratio of 38.2% Fibonacci retracement levels. So, the upward trend is still strong from the 1.2441 level. Furthermore, it will be very profitable to buy above this level for retesting this level in the short term. Therefore, buy deals are recommended above the weekly support at 1.2441 with the targets at 1.2550 and 1.2582 to reach the double top and the first resistance. Also, it should be noted that the level of 1.2488 represents the weekly pivot point. On the contrary, the resistance is going to set at the level of 1.2582 and next resistance will set around the area of 1.2636 this week. Therefore, the downward movement will probably be lower than the 1.2582 or 1.2636 level with the targets at the weekly pivot point 1.2488.
Intraday technical levels:
Date and Time: 19/11/2014 12:51 Pair:
EUR/USD
R3: 1.2671 R2: 1.2607 R1: 1.2570
PP: 1.2506
S1: 1.2469 S2: 1.2405 S3: 1.2368

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

 

[bhanu545]

Intraday technical levels and trading recommendations on GBP/USD for November 19, 201

4H chart reveals long period of downside movement roughly maintained within the limits of the depicted channel.
Three weeks ago, bulls managed to push beyond the upper limit of the channel. However, the GBP/USD pair was trapped between the backside of the channel (1.5860) and price level of 1.6140.
This week, the bears managed to break below the recent low around 1.5790. This exposed the potential target at 1.5700 and 1.5650 where the backside of the broken channel is roughly located.
Conservative traders should wait for a bullish pull-back towards 1.5820-1.5860 for a valid SELL entry.
On the other hand, risky traders can benefit of the current low prices and take a BUY position around the current prices with tight stop loss ( DAILY closure below the entry levels ).

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

 

[bhanu545]

Technical analysis of USD/CHF for November 19, 2014

Fundamental overview:
USD/CHF is expected to trade in a lower range as markets await FOMC October meeting minutes (due at 1900 GMT) for details on the monetary policy committee's outlook on health of U.S. economy and Federal Reserve's intentions for interest rates.It is undermined by the spillover strength from euro on the Swiss Franc and franc demand on buoyant CHF/JPY cross. But USD/CHF losses are tempered by the dovish Swiss National Bank's monetary policy.
Technical comments:
Daily chart is negative-biased as MACD and stochastics bearish, five-day moving average is falling below 15-day moving average.
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 0.9555. A break of this target will move the pair further downwards to 0.9555. The pivot point stands at 0.9620. In case the price moves in the opposite direction and bounces back from the support level, then it will move 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 0.9655 and the second target at 0.9690.
Resistance levels: 0.9655 0.9690 0.9740
Support levels: 0.9555 0.9515 0.9785

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

 

[bhanu545]

Technical analysis of USD/JPY for November 19, 2014

Fundamental overview:
USD/JPY is expected to consolidate with a bullish bias as markets await FOMC October meeting minutes (due at 1900 GMT) for details on the monetary policy committee's outlook on health of U.S. economy and Federal Reserve's intentions for interest rates. Focus Wednesday also on Bank of Japan's interest rate decision: most market participants don't expect a back-to-back easing by the BOJ after the central bank stepped up its already aggressive easing at its Oct. 31 meeting. USD/JPY is underpinned by the yen-funded carry trades amid positive risk sentiment (VIX fear gauge eased 0.93% to 13.86; S&P 500 hit all-time high 2,056.08 overnight before closing up 0.51% at 2,051.80) on prospects of more stimulus efforts from major central banks, while a measure of German economic confidence improved for the first time in nearly a year, and U.S. NAHB housing market index rose stronger than expected to 58 in November from 54 in October (versus forecast 55). USD/JPY is also supported by the demand from Japan importers and soft yen sentiment as Prime Minister Abe on Tuesday delayed a scheduled sales-tax increase until April 2017 and confirmed a snap election. But USD/JPY gains are tempered by the Japan exporter sales and lower U.S. Treasury yields (10-year at 2.318% versus 2.340% late Monday) despite a surprise 0.2% on-month rise in U.S. October PPI (versus forecast for 0.1% decrease).
Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at overbought levels, 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 118.05 and the second target at 118.45. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 116.35. A break of this target would push the pair further downwards and one may expect the second target at 116.05. The pivot point is at 116.75.
Resistance levels: 118.05 118.45 118.75
Support levels: 116.35 116.05 115.80

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

 

[bhanu545]

Gold Technical analysis for November 19, 2014

Gold price is in a short-term up trend as price is making higher highs and higher lows. Gold price has almost reached the 61.8% retracement of the decline from $1,255 to $1,130. Strong resistance is at that level and it is also a possible reversal level. This bounce from $1,130 is a counter trend and I continue to believe we could see $1,050.

Blue lines = support
Gold price has broken the short-term sideways consolidation in the $1,190 area to the upside and is trying to make a run towards $1,205-$1,210 which is the next resistance level. Breaking below $1,190 will push Gold price towards the important support of $1,185-$1,180. Breaking the blue support lines will signal more weakness and the start of a short-term trend reversal to the downside.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for November 20, 201

As depicted on the chart, the EUR/USD pair has been respecting the limits of the current bearish channel until November 14.
Last week, the EUR/USD pair tested price level of 1.2500 few times as the bears have failed to apply enough bearish momentum.
Instead, few more ascending bottoms around 1.2400 and 1.2430 were established. This applied bullish pressure on SUPPLY zone located around 1.2500 where the upper limit of the channel is located.
A high probability of bullish reversal exists as long as the bulls keep fixating above 1.2500. Thus, establishing another ascending bottom confirming the ongoing uptrend.
Trade recommendations:
Based on the technical data mentioned above, bullish breakout is now a high-probability scenario.
4H closure above 1.2470 then 1.2500 gives an early confirmation. Projection target would be located around 1.2620.
The bearish flag scenario should also be considered for the longer-term positions.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on GBP/USD for November 20, 201

4H chart reveals long period of downside movement roughly maintained within the limits of the depicted channel.
Three weeks ago, bulls managed to push beyond the upper limit of the channel. However, the GBP/USD pair was trapped between the backside of the channel (1.5860) and price level of 1.6140.
This week, the bears managed to break below the recent low around 1.5790. This exposed the potential target at 1.5700 and 1.5650 where the backside of the broken channel is roughly located.
Conservative traders should wait for a bullish pull-back towards 1.5820-1.5860 for a valid SELL entry.
On the other hand, risky traders could have taken a BUY position around 1.5600-1.5650 as anticipated in previous articles.
Stop loss to be set at 1.5620 ( few pips above entry levels ) to offside the risk of a counter-trend position.

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

 

[bhanu545]

Technical analysis of USD/CHF for November 19, 2014

Fundamental overview:
USD/CHF is expected to trade in a lower range as markets await FOMC October meeting minutes (due at 1900 GMT) for details on the monetary policy committee's outlook on health of U.S. economy and Federal Reserve's intentions for interest rates.It is undermined by the spillover strength from euro on the Swiss Franc and franc demand on buoyant CHF/JPY cross. But USD/CHF losses are tempered by the dovish Swiss National Bank's monetary policy.
Technical comments:
Daily chart is negative-biased as MACD and stochastics bearish, five-day moving average is falling below 15-day moving average.
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 0.9555. A break of this target will move the pair further downwards to 0.9555. The pivot point stands at 0.9620. In case the price moves in the opposite direction and bounces back from the support level, then it will move 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 0.9655 and the second target at 0.9690.
Resistance levels: 0.9655 0.9690 0.9740
Support levels: 0.9555 0.9515 0.9785

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

 

[bhanu545]

Technical analysis of USD/JPY for November 20, 2014

In Asia, Japan will release the Trade Balance, Flash Manufacturing PMI, and BOJ Monthly Report. The US economic calendar will added with some important data such as CPI m/m, Core CPI m/m, Unemployment Claims, Flash Manufacturing PMI, Philly Fed Manufacturing Index, Existing Home Sales, CB Leading Index m/m, and Natural Gas Storage. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 118.74.
Resistance. 2: 118.52.
Resistance. 1: 118.27.
Support. 1: 117.99.
Support. 2: 117.75.
Support. 3: 117.52.

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

 

[bhanu545]

Gold Technical analysis for November 20, 2014

Gold price reversed strongly from the 61.8% retracement yesterday and broken short-term support levels. However, the price bounced back strongly to re-test $1,200 only to continue back below $1,190 today. The short-term trend is neutral. Breaking below $1,170 and $1,145 are the signs bears are looking for the resumption of the down trend. I remain longer-term bearish targeting $1,050.

Gold price has reached the 61.8% retracement and got rejected. However, price remains above the ichimoku cloud and above the black supportive trend line. The kijun-sen support is at $1,175. A 4-hour close below $1,175 will signal more downside is to expected towards at least $1,150. If support at $1,145 fails to hold prices and if Gold price breaks below the cloud, then I will have confirmation of the start of the new downward move towards $1,050.

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

 

[bhanu545]

Technical analysis of EUR/USD for November 21, 2014

Overview:
The resistance is set at the level of 1.2582 and the double top was placed at 1.2599 on November 21, 2014. Consequently, the price of the EUR/USD pair is going to turn to the bearish sentiment from the level of 1.2582. Accordingly, it will a good sign to sell in this area with the first target of 1.2488 to test a minor support at this price which represents the weekly pivot point today. Also, if the trend can break the weekly pivot point, it will call for a downtrend in order to continue its bearish movement towards 1.2430 because the support will set at the 1.2430 level. At the same time, the stop loss should be placed above 1.2599 at the price of 1.2530.
Trading recommendations:
According to previous events, the EUR/USD pair is trapped between 1.2550 and 1.2419 .
The resistance will be formed at the level of 1.2582 providing a clear signal for sell deals with the targets seen at 1.2488 and 1.2430.
Stop-loss is to be placed above 1.2630.

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

 

[bhanu545]

Technical analysis of GBP/USD for November 21, 2014

Trading recommendations:
The resistance of the GBP/USD pair is going to set at the level of 1.5735. The pair will go down in all probability cause the downward trend is still powerful on the H4 chart. Consequently, the descending movement will probably be lower than the 1.5735 level with the targets at 1.5642 and 1.5526 (the weekly support 1). On the contrary, the support has already set at 1.5526. Furthermore, it should be noted that it will quite profitable to buy above this level for retesting this level for a short period. Therefore, buy deals are recommended above the 1.5526 level during the correction with the target of 1.5568. So, the GBP/USD pair will move between the levels of 1.5530 and 1.5690 today.

Observations:
We expect a new range about 210 pips this week.
The key level will set at the level of 1.5660.
If the trend is upward, then the strength of the currency will be defined as following: GBP is in an uptrend and USD is in a downtrend.
It should be noted that if there is no significant news to influence, the market price will be moving from the pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.

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

 

[bhanu545]

Technical Analysis of USD/CHF for November 21, 2014

The pair is consolidating between 20Dsma and 50Dsma with lower lows and higher highs. In case if the pair closes below 0.9500 on a daily basis, it can extend its fall towards 0.9440 and 0.9400. The prices are trading near a 2-week trend line support at 0.9557 and 0.9530. In case an hour candle closes below 0.9530, we can expect another 100 pips correction. The prices are closed and trading below 12ema and 34hrsma. In case the prices manage to trade above 0.9610, the pair can challenge 0.9755, 0.9689, and 0.9700. These views are valid only for hourly and intraday perspective. On a positional basis, in case the price closes above 0.9688 on a weekly closing basis, it can challenge 0.9800, 0.9840,0.9970, and 1.017. The parallel monthly resistance exists at 0.9751. Currently, the pair is trading at a 2-weeks low. 0.9700 is still a resistance, but we can say it is a top on a closing basis unless we see a close below 0.9361. If not, it can shoot above 0.9700 levels. 1416545387_USDCHFH4.png

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

 

[bhanu545]

Technical analysis of USD/JPY for November 21, 2014

Today, both Japan and the US will not release any economic data. So, there is a big probability the USD/JPY pair will move with low volatility during the day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 118.07.
Resistance. 2: 117.84.
Resistance. 1: 117.61.
Support. 1: 117.33.
Support. 2: 117.10.
Support. 3: 116.86.

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

 

[bhanu545]

Gold Technical analysis for November 21, 2014

Gold price remains below important resistance level of $1,207 and is consolidating near its highs within a sideways trading range. The upward move from $1,130 is considered a corrective counter trend move relative to the decline from $1,255. I expect a downtrend to resume soon.

Black line=support
Gold price is above the Ichimoku cloud. It is consolidating near the highs of this upward move and near the 61.8% retracement resistance. This is the most probable level to see a trend reversal to the downside. Once Gold price breaks $1,175 support, we should expect the cloud support and the black trend line to be tested. My longer-term view remains bearish targeting $1,050.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for November 24, 201

As depicted on the chart, the EUR/USD pair has been respecting the limits of the current bearish channel until November 14.
Few ascending bottoms around 1.2400 and 1.2430 ( above the depicted broken uptrend line ) were established.
The EUR/USD pair managed to fixate above price level of 1.2500 for a few 4H candlesticks before the bears managed to apply enough bearish pressure on Friday.
Trade recommendations:
The bearish flag scenario should now be considered for the longer-term positions.
The EUR/USD pair now has a bearish projection target roughly located around price level of 1.2200.
Price zone of 1.2470-1.2490 should now be considered for SELLING the pair at valid prices. Stop Loss should be located above 1.2575.

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