Technical analysis on EU,GU and majors

[bhanu545]

Intraday technical levels and trading recommendations on GBP/USD for December 10, 201

Overview:
The GBP/USD pair has been moving downward respecting the depicted bearish channel since mid-September when the ongoing channel was initiated. Many bearish impulses were previously initiated around 1.6450, 1.6170, and 1.5940 where the upper limit of the channel came to meet the pair.
The price zone of 1.5890-1.5870 constituted a transient daily support that paused the bearish movement for a few days. However, bears quickly managed to push lower.
Bullish fixation above 1.5890-1.5900 was essential to maintain the bullish scenario. However, bears have failed to do so. Instead, the market pushed towards support level located around 1.5600 where the lower limit of the ongoing channel was previously located.
The GBP/USD pair looked quite oversold. Bullish correction was anticipated as the pair has tested a prominent WEEKLY support (price level of 1.5600) corresponding to multiple previous tops established back in May and June 2013.
On the other hand, a break below the recent bottom around 1.5580 invalidates this bullish scenario and renders the current consolidation range as a bearish flag pattern with projected target at 1.5410.
Trading recommendations:
As anticipated, a previous valid BUY opportunity was suggested at retesting of the same price level of 1.5600. This position was running in profit until bearish pullback took place towards entry levels again.
TP levels should be set at 1.5760, 1.5820 and 1.5880.
On the other hand, a low risk SELL entry will probably be offered around 1.5880-1.5940 ( Important Fibonacci Levels and slightly above the upper limit of the depicted bearish channel ).
Stop Loss should be located just above 1.5950.

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

 

[bhanu545]

Technical analysis of USD/CHF for December 10, 2014

Fundamental overview:
USD/CHF is expected to consolidate with bearish bias after hitting three-day low 0.9652 on Tuesday. CHF sentiment is boosted by the lower-than-expected Switzerland November unemployment rate of 3.1% (versus forecast 3.2%). USD/CHF is also undermined by the broadly weaker USD undertone. But USD/CHF downside is limited by the franc sales on soft CHF/JPY cross and ultra-loose Swiss National Bank's monetary policy.
Technical comment:
The daily chart is mixed as the MACD is bullish, but stochastics turned bearish at overbought levels.
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 positions are recommended with the first target at 0.9705. A break of this target will move the pair further downwards to 0.9675. The pivot point stands at 0.9735. 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 0.9770 and the second target at 0.9795.
Resistance levels: 0.9770 0.9795 0.9820
Support levels: 0.9705 0.9675 0.9635

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

 

[bhanu545]

Technical analysis of USD/JPY for December 10, 2014

In Asia, Japan will release the BSI Manufacturing Index, PPI y/y, and Consumer Confidence. The US will also publish some economic data such as Crude Oil Inventories, 10-y Bond Auction, and Federal Budget Balance. 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: 120.04.
Resistance. 2: 119.81.
Resistance. 1: 119.58.
Support. 1: 119.29.
Support. 2: 119.06.
Support. 3: 118.82

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

 

[bhanu545]

Gold technical analysis for December 10, 2014

Gold price broke above resistance levels at $1,208-10 yesterday and gave a buy signal. Gold price reached our first target at $1,240 by making a high at $1,239. Short-term support is at $1,225 and at $1,215. This upward move could continue towards $1,260 if support levels are held. gold.jpg

Gold price has broken above the Ichimoku cloud and is now back testing the breakout area. The pullback inside the cloud will be a bearish sign as it will mean that the breakout was fake. Important bullish support is at $1,185. Breaking below this level will signal the end of the upward bounce and the start of a new downward move towards new lows.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for December 11, 201

The double-top pattern was expressed last week on the 4H chart around 1.2500. As anticipated, fixation below neckline (price level of 1.2430) enhanced the bearish trend on the market.
Today, bulls spiked up to 1.2496. However, the market came back to trade below 1.2400. It could be representing a failed bullish breakout off the upper limit of the depicted movement channel.
Fixation below the technical key-level of 1.2370 is mandatory to maintain enough bearish momentum to push towards 1.2200.
Trade recommendations:
As anticipated before, intraday traders can SHORT the pair anywhere around 1.2410 -1.2450 (prominent Fibonacci Levels). Stop Loss should be set at a four-hour closure above 1.2470.
Target level should be located around the price level of 1.2200.

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

 

[bhanu545]

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

Overview:
The GBP/USD pair has been moving downward respecting the depicted bearish channel since mid-September when the ongoing channel was initiated. Many bearish impulses were previously initiated around 1.6450, 1.6170, and 1.5940 where the upper limit of the channel came to meet the pair.
The price zone of 1.5890-1.5870 constituted a transient daily support that paused the bearish movement for a few days. However, bears quickly managed to push lower.
Bullish fixation above 1.5890-1.5900 was essential to maintain the bullish scenario, however, bears have failed to do so. Instead, the market pushed towards the support level located around 1.5600 where the lower limit of the ongoing channel was previously located.
The GBP/USD pair looked quite oversold. Bullish correction was anticipated as the pair has tested a prominent WEEKLY support (price level of 1.5600) corresponding to multiple previous tops established back in May and June 2013. That is why the sideway movement is still taking place roughly between 1.5600 and 1.5780.
On the other hand, a break below the recent bottom around 1.5580 invalidates this bullish scenario and renders the current consolidation range as a bearish flag pattern with projected target at 1.5410.
Trading recommendations:
As anticipated, a previous valid BUY opportunity was suggested at retesting of the same price level of 1.5600. TP levels should be set at 1.5760, 1.5820 and 1.5880. SL remains as a daily closure below 1.5580
On the other hand, a low risk SELL entry will probably be offered around 1.5880-1.5940 (Important Fibonacci Levels slightly above the upper limit of the depicted bearish channel ).
Stop Loss should be located above 1.5950.

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

 

[bhanu545]

Technical analysis of USD/CHF for December 11, 2014

Fundamental overview:
USD/CHF is expected to consolidate in a lower range as markets await 0830 GMT Swiss National Bank interest rate decision, SNB is expected to leave its monetary policy unchanged. USD/CHF is undermined by broadly weaker USD undertone (ICE spot dollar index last 88.23 versus 88.67 early Wednesday). But USD/CHF losses are tempered by the franc sales on soft CHF/JPY cross.
Technical comment:
Daily chart is tilting negative as stochastics falling from overbought levels, MACD is turning bearish.
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 positions are recommended with the first target at 0.9302. A break of this target will move the pair further downwards to 0.9590. The pivot point stands at 0.9720. 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 0.9755 and the second target at 0.9790.
Resistance levels: 0.9755 0.9790 0.9835
Support levels: 0.9615 0.9590 0.9545

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

 

[bhanu545]

Technical analysis of USD/JPY for December 11, 2014

Fundamental overview:
USD/JPY is expected to consolidate with a bearish bias after hitting a two-week low at 117.70 on Wednesday. It is undermined by the flows to haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge jumped 24.45% to 18.53, S&P 500 closed 1.64% lower at 2,026.14 overnight) as oil prices tumbled to fresh five-year lows after the Organization of the Petroleum Exporting Countries cut its 2015 demand expectations for crude to the lowest level since 2003, while below-forecast China November CPI data points to weakening growth in the world's second-largest economy. USD/JPY is also weighed by the lower U.S. Treasury yields (10-year at 2.171% versus 2.220% late Tuesday), broadly weaker USD undertone (ICE spot dollar index last 88.23 versus 88.67 early Wednesday) and Japan's export sales. But USD/JPY losses are cushioned by demand from Japan's importers and Bank of Japan's large-scale monetary easing policy.
Technical comment:
Daily chart is negative-biased as MACD is bearish, stochastics is falling from overbought levels.
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 positions are recommended with the first target at 117.40. A break of this target will move the pair further downwards to 117.05. The pivot point stands at 118.80. 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 119.40 and the second target at 120.10.
Resistance levels: 119.40 120.10 120.45
Support levels: 117.40 117.05 116.75

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

 

[bhanu545]

Gold technical analysis for December 11, 2014

Gold price has not managed to break above the important resistance of $1,240 and is pulling back down below the first short-term support of $1,225. The next support is at $1,215. If resistance at $1,240 is broken we will see a move up to $1,260-70. If support fails we will see a move towards $1,200-$1,190.

In the daily chart gold price, as expected, is back testing the breakout area of the Ichimoku cloud. A move back inside the cloud will signal a fake breakout and it will be a very bearish sign. Breaking below $1,180 will increase the chances of the bearish scenario where I expect new lows to come.

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

 

[bhanu545]

Technical analysis of EUR/USD for December 12, 2014

Trading recommendations:
The market of the EUR/USD pair will turn to bearish sentiment from the level of 1.2470. Additionally, the resistance will be set at the level of 1.2489. Also, we expect a new range of 97 pips today. Therefore, it will be a good sign to sell at the 1.2470 or 1.2489 prices with the first target at 1.2405. Furthermore, it will continue in downtrend in order to keep its bearish movement towards 1.2371 (it should also be noted that the level of 1.2371 is going to form double bottom). Nevertheless, the stop loss should never exceed your maximum exposure amounts. Accordingly, the stop loss should be placed above 1.2494 (double tops in the H1 chart) at the price of 1.2515.
Notes:
Support 1 and resistance 1 are going to set at the levels of 1.2371 and 1.2489 respectively
It should be noted that if there is no significant news to influence, the market price will be moving from 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.
We expect a new range about 208 pips this week.
The key level will set at the level of 1.2426.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 12, 2014

Overview:
The GBP/USD pair has been moving downward respecting the depicted bearish channel since mid-September when the ongoing channel was initiated. Many bearish impulses were previously initiated around 1.6450, 1.6170, and 1.5940 where the upper limit of the channel came to meet the pair.
The price zone of 1.5890-1.5870 constituted a transient daily support that paused the bearish movement for a few days. However, bears quickly managed to push lower.
Bullish fixation above 1.5890-1.5900 was essential to maintain the bullish scenario, however, bears have failed to do so. Instead, the market pushed towards the support level located around 1.5600 where the lower limit of the ongoing channel was previously located.
The GBP/USD pair looked quite oversold. Bullish correction was anticipated as the pair has tested a prominent WEEKLY support (price level of 1.5600) corresponding to multiple previous tops established back in May and June 2013. That is why the sideway movement is still taking place roughly between 1.5600 and 1.5780.
However, a break below the recent bottom around 1.5580 terminates the current ranging movement, rendering the current consolidation range as a bearish flag pattern with projected target at 1.5410.
Trading recommendations:
As anticipated, a previous valid BUY opportunity was suggested at retesting of the same price level of 1.5600. TP levels should be set at 1.5760, 1.5820 and 1.5880. SL remains as a daily closure below 1.5580
On the other hand, a low risk SELL entry will probably be offered around 1.5880-1.5940 (Important Fibonacci Levels slightly above the upper limit of the depicted bearish channel ).
Stop Loss should be located above 1.5950.

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

 

[bhanu545]

Technical analysis of USD/JPY for December 12, 2014

In Asia, Japan will release the Revised Industrial Production m/m. Today, the US will also release some important reports such as PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, and Prelim UoM Inflation Expectations. 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.
Resistance. 3: 119.54.
Resistance. 2: 119.31.
Resistance. 1: 119.07.
Support. 1: 118.79.
Support. 2: 118.55.
Support. 3: 118.32.

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

 

[bhanu545]

Technical analysis of AUD/USD for December 12, 2014

Overview:
According to the previous events, the price of the AUD/USD pair has still been moving between the levels of 0.8308 and 0.8214. As it is known, if the trend is downward, then the strength of the currency pair will be defined as following: USD is in uptrend and AUD is in downtrend. Consequently, we expect that the trend is going to call for a bearish market at the level of 0.8308 (23.6% Fibonacci retracement levels) on the H1 chart. Additionally, it should be noted that the range today will be about 73 pips. Thereupon, sell at the price of 0.8308 with the first target at 0.8250, it might resume to 0.8214 in order to test the double bottom. At the same time, the stop loss should never exceed your maximum exposure amounts. Accordingly, your stop loss should be placed above the 0.8345 level.
Intraday technical levels:
Date: 12/12/2014 Pair: AUD/USD
R3: 0.8520 R2: 0.8447 R1: 0.8360
PP: 0.8287
S1: 0.8200 S2: 0.8127 S3: 0.8040

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

 

[bhanu545]

Gold Technical analysis for December 12, 2014

Gold price continues to trade below important resistance of $1,240. As long as price is below that resistance level, we should expect a pullback towards $1,200 at least. Sell signal will be given if $1,215 is broken. The trend is sideways and the levels that give buy or sell signals are very clear.

Gold is making higher highs and higher lows. Price is above the Ichimoku cloud and as long as Gold price does not break $1,180 then bulls have the upper hand. If $1,180 is broken we should expect to see new lows below $1,130. Until then, bulls still have many chances of seeing $1,270.

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

 

[bhanu545]

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

Overview:
In the short term, the price of the EUR/USD pair is going to turn to a bearish trend from the level of 1.2494. Also, it should be noted that the level of 1.2494 represents the ratio of 100% Fibonacci retracement levels in the H1 chart and also the double top at the same frame time since last week. Accordingly, it will be a good sign to sell below 1.2490 with the first target of 1.2400 to test the the weekly pivot point at this price. Then, it will call for a downtrend in order to continue its bearish movement towards 1.2324 (the weekly minor support). Moreover, it might be noted that the strong support will set at the level of 1.2307 in the next hours. At the same time, the stop loss should be placed above the weekly pivot point at the price of 1.2494. Equally important, the weekly resistance will set at the 1.2555 level.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 15, 2014

Overview: The GBP/USD pair has been moving downward respecting the depicted bearish channel since mid-September when the ongoing channel was initiated. Many bearish impulses were previously initiated around 1.6450, 1.6170, and 1.5940 where the upper limit of the channel came to meet the pair.
The price zone of 1.5890-1.5870 constituted a transient daily support that paused the bearish movement for a few days. However, bears quickly managed to push lower.
Bullish fixation above 1.5890-1.5900 was essential to maintain the bullish scenario, however, bears have failed to do so. Instead, the market pushed towards the support level located around 1.5600 where the lower limit of the ongoing channel was previously located.
The GBP/USD pair looked quite oversold. Bullish correction was anticipated as the pair has tested a prominent WEEKLY support (price level of 1.5600) corresponding to multiple previous tops established back in May and June 2013. That is why the sideway movement is still taking place roughly between 1.5600 and 1.5780.
However, a break below the recent bottoms established around 1.5580-1.5540 terminates the current ranging movement, rendering the current consolidation range as a bearish flag pattern with projected target at 1.5310.
Trading recommendations:
Though it maybe a risky trade, traders can SHORT the GBP/USD pair after DAILY or earlier four-hour closure below 1.5540. Stop Loss should be located above 1.5630.
Final projection target of this bearish flag pattern would be located near 1.5300. However, profits should be taken earlier around 1.5480 and 1.5400.

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

 

[bhanu545]

Technical analysis of USD/JPY for December 15, 2014

Fundamental overview:
USD/JPY is expected to trade with risks skewed to downside. It is undermined by the weaker USD sentiment (last ICE spot dollar index 88.20 versus 88.52 on early Friday) as the U.S. Treasury yields fell (10-year at 2.103% versus 2.178% on late Thursday), lower than expected and the U.S. PPI of dropped 0.2% on month in November (versus forecast -0.1%) and haven buying of the U.S. Treasury bonds. USD/JPY is also weighed by the Japanese export sales, flows to haven JPY amid increased risk aversion (VIX fear gauge rose 4.98% to 21.08, S&P 500 closed 1.62% lower at 2,002.33 on Friday) amid growing concerns over the global economy as oil prices fell to five-and-a-half-year lows (Nymex crude hit $56.25/bbl this morning, its lowest figure since May 18, 2009) after the International Energy Agency lowered its estimate for global oil demand growth. But USD sentiment is soothed by the stronger than expected rise in University of Michigan preliminary U.S. consumer sentiment index to 93.8 in December from November's 88.8 (versus forecast 90.0). USD/JPY losses are also tempered by Japan's ruling Liberal Democratic Party's well anticipated victory in the weekend's snap election regarded as an endorsement of Prime Minister Abe's economic programs; demand from Japan's import and Bank of Japan's large-scale monetary easing policy.
Technical comment:
The daily chart is negative-biased as the MACD and stochastics are bearish; five-day moving average is falling below 15-day moving average although intraday range pattern was completed on Friday.
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 positions are recommended with the first target at 117.80. A break of this target will move the pair further downwards to 117.40. The pivot point stands at 119.10. 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 119.50 and the second target at 120.10.
Resistance levels: 119.50 120.10 120.45
Support levels: 117.80 117.40 117.05

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

 

[bhanu545]

Technical analysis of USD/CHF for December 15, 2014

Fundamental overview:
USD/CHF is expected to trade in a lower range. It is undermined by the weaker USD sentiment (last ICE spot dollar index 88.20 versus 88.52 on early Friday) as the U.S. Treasury yields fell (10-year at 2.103% versus 2.178% on late Thursday), the U.S. PPI dropped 0.2% on month in November (versus forecast -0.1%) and haven buying of the U.S. Treasury bonds and the franc demand on soft EUR/CHF cross. But USD/CHF losses are tempered by the ultra-loose Swiss National Bank's monetary policy.
Technical comment:
The daily chart is negative-biased as the MACD and stochastics are 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 positions are recommended with the first target at 0.9302. A break of this target will move the pair further downwards to 0.9595. The pivot point stands at 0.9685. 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 0.9720 and the second target at 0.9755.
Resistance levels: 0.9720 0.9755 0.9790
Support levels: 0.9615 0.9595 0.9545

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

 

[bhanu545]

Gold technical analysis for December 15, 2014

Gold price has broken once again below $1,215 and is unable to break above $1,233 resistance. The short-term price action implies that we should expect a downward move towards $1,205-$1,200. Important daily support at $1,180, if broken, will be a bearish sign implying that we could have started a medium-term move to new lows.

On the 4-hour chart shown above gold price has broken below the Kijun-sen and if this 4-hour candle closes below $1,217 then we should expect this downward move to extend towards the Ichimoku cloud at $1,200. Cloud support is also at $1,185-80. If it is broken then we should expect the $1,140 low to be tested.

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

 

[bhanu545]

Technical analysis of EUR/USD for December 16, 2014

When the European market opens, lots of major economic reports will be released such as Trade Balance, ZEW Economic Sentiment, German ZEW Economic Sentiment, Italian Trade Balance, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will release the economic data too such as the Flash Manufacturing PMI, Housing Starts, and Building Permits. So, in this context, EUR/USD will move low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2506.
Strong Resistance:1.2498.
Original Resistance: 1.2486.
Inner Sell Area: 1.2474.
Target Inner Area: 1.2444.
Inner Buy Area: 1.2414.
Original Support: 1.2402.
Strong Support: 1.2390.
Breakout SELL Level: 1.2382.

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