Technical analysis on EU,GU and majors

[bhanu545]

Intraday technical levels and trading recommendations on GBP/USD for December 16, 201

The 4H chart reveals the recent consolidation movement maintained within the limits of the depicted channel. Recent bullish breakout took place earlier today.
The price zone of 1.5680-1.5710 is now acting as an intraday DEMAND zone. Bearish pullback towards this zone remains a valid BUY entry with SL as daily closure below 1.5650.

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

 

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Technical analysis of USD/CHF for December 16, 2014

Overview:
The USD/CHF pair has not shown signs of breaking the highest level of 0.9642 which coincides with the 61.8% of Fibonacci retracement levels. Also, it should be noted that the resistance has already set at the spot of 0.9640 since yesterday. Therefore, it will be a good sign to sell below the level of 0.9640 with the first target at 0.9536 (38.2% of Fibonacci retracement levels) and resume to 0.9467 in order to form a double bottom this week. Moreover, the resistance is going to be placed at the price of 0.9467. Thus, we expect a range of 122 pips in the coming days. However, in case a reversal takes place and the USD/CHF pair breaks through the support level of 0.9536, then the market will lead to further decline to 0.9470 and 0.9425. Additionally, it will be able to indicate the correction movement at this level. But it should be noted that the channel emerging of RSI is still negative. Furthermore, it might notice a point of view that the MA(100) would be rather a confirmation for the downtrend but in a short-term period.

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

 

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Technical analysis of USD/JPY for December 16, 2014

Fundamental overview:
USD/JPY is expected to trade in a lower range. It is undermined by the selling of the yen crosses amid diminished investor risk appetite (S&P 500 closed 0.63% lower at 1,989.63 overnight, although VIX fear gauge finished down 3.13% to 20.42) as oil prices extend falls to a fresh five-and-a-half-year lows on Monday - Nymex crude hit $55.02/bbl, its cheapest figure since May 8, 2009 - stoking concerns over the receding demand and slowing global economy. USD/JPY is also weighed by the Japanese export sales. But USD/JPY losses are tempered by the improved USD sentiment (ICE spot dollar index last 88.43 versus 88.20 on early Monday), higher U.S. Treasury yields (10-year at 2.114% versus 2.103% on late Friday), 1.3% on month increase in U.S. November industrial production (versus forecast +0.8%) and the U.S. November capacity utilization of 80.1% (versus forecast 79.4%) that outweigh a surprise drop in Empire State's business conditions index to -3.58 in December from +10.16 in November (versus forecast for rise to 14) and an unexpected fall in the U.S. NAHB housing market index to 57 in December from 58 in November (versus forecast for rise to 59). USD/JPY downside is also limited by the demand from Japan's import, the Bank of Japan's large-scale monetary easing policy and positions adjustment as market participants trim risk exposure ahead of the Federal Reserve's monetary decision on Wednesday.
Technical comment:
The daily chart is negative-biased as the MACD and stochastics are bearish, five-day moving average is below 15-day moving average and is declining.
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 115.85. A break of this target will move the pair further downwards to 115.40. The pivot point stands at 117.50. 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 118.40 and the second target at 119.10.
Resistance levels: 118.40 119.10 119.45
Support levels: 115.85 115.40 115.15

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

 

[bhanu545]

Gold technical analysis for December 16, 2014

Gold price has broken the short-term support, as expected, and pushed below $1,200 towards $1,190-80 support area. As long as gold price is below $1,220 and above $1,180 trend will be neutral. These two levels are very important price levels that once broken will provide the next big move.

Blue line = support
Gold price, as shown in the 4-hour chart above, is making higher highs and higher lows. It has pushed inside the Ichimoku cloud and remains above the important support and previous low at $1,180. As long as price holds that support level, bulls could feel safe. If support is broken, price will push below the cloud and it would be a bearish signal that will push gold price towards $1,140 at least. Until then I prefer to be neutral or bullish with $1,180 stop.

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

 

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Technical analysis of EUR/USD for December 17, 2014

Overview:
The EUR/USD pair has broken a major support at the level of 1.2502. But in case the daily pivot point is at the 1.2446 level, then the market will indicate a bearish opportunity below this price. Additionally, it is now approaching it, therefore, it will probably start downside movement at this area and recover again. So the market will indicate a bearish opportunity at the price of 1.2440. In the long term, it should be noticed that we got a weekly pivot point of EUR/USD pair for December 15-19, 2014 at the level of 1.2400. Therefore, the market will probably indicate a bearish opportunity at the levels of 1.2440 or 1.2400 and the weekly pivot point will act as strong resistance. So, according to the previous events, the price is still below 1.2550 (the weekly resistance 1). Thenceforward, the area below 1.2440 looks for further downside with the first target at 1.2369 level in order to form a double bottom and continue towards 1.2307 to test to the first weekly support. However, if a break in 1.2569 takes place, then it will be a good area for placing the stop loss above the double top.

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

 

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Intraday technical levels and trading recommendations on GBP/USD for December 17, 201

The 4H chart reveals the recent consolidation movement maintained within the limits of the depicted channel. Recent bullish breakout took place earlier today.
The price zone of 1.5680-1.5710 is now acting as an intraday DEMAND zone. Bearish pullback towards this zone offers a valid BUY entry with SL as daily closure below 1.5650.
Target levels should be initially located around 1.5820.

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

 

[bhanu545]

Technical analysis of USD/JPY for December 17, 2014

In Asia, Japan will release the Trade Balance. The US will publish a bunch of economic data such as Federal Funds Rate, Crude Oil Inventories, Current Account, Core CPI m/m, and CPI m/m. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the Asian session, but with medium to high volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 117.22.
Resistance. 2: 117.00.
Resistance. 1: 116.77.
Support. 1: 116.49.
Support. 2: 116.26.
Support. 3: 116.02.

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

 

[bhanu545]

Technical analysis of USD/CHF for December 17, 2014

Fundamental overview:
USD/CHF is expected to consolidate with bearish bias after hitting high an almost one-month low of 0.9552 on Tuesday as the market awaits the U.S. FOMC interest rate decision. USD/CHF is weighed by the weaker dollar sentiment, spillover from stronger euro sentiment on the franc and flows to haven CHF amid increased risk aversion. But USD/CHF losses are tempered by the franc sales on soft CHF/JPY cross and 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 below 15-day MA and is declining.
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 0.9675 and the second target at 0.9720. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9550. A break of this target would push the pair further downward, and one may expect the second target at 0.9520. The pivot point is at 0.9585.
Resistance levels: 0.9675 0.9720 0.9750
Support levels: 0.9550 0.9520 0.95

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

 

[bhanu545]

Gold technical analysis for December 17, 2014

Yesterday gold price was very volatile and made an erratic move by breaking above $1,220 for a brief moment and then back to new short-term lows below $1,193. This is an indication that we should remain neutral as long as price is inside this consolidation area.

Red line = resistance
Blue line = support
Gold price is inside the Ichimoku cloud and inside the triangle pattern as I explained above. The Ichimoku indicators also point to the fact that there is a lot of indecision on the market and no clear trend. The best strategy is to wait for a breakout before opening a position.

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

 

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Technical analysis of EUR/USD for December 18, 2014

When the European market opens, some economic news will be released such as Spanish 10-y Bond Auction and German Ifo Business Climate. The US will release a bunch of economic data such as the Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, Flash Services PMI, and Unemployment Claims. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2393.
Strong Resistance:1.2366.
Original Resistance: 1.2374.
Inner Sell Area: 1.2362.
Target Inner Area: 1.2333.
Inner Buy Area: 1.2304.
Original Support: 1.2292.
Strong Support: 1.2280.
Breakout SELL Level: 1.2273.

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

 

[bhanu545]

Daily analysis of GBP/USD for December 18, 2014

On the daily chart, the GBP/USD pair made a strong breakout at the level of 1.5642, which opened the way for the pair to visit the support level of 1.5506. Now, the GBP/USD pair may begin to form a bearish pattern to try to continue the bearish bias in the medium term. However, this could be confirmed with a breakout level of 1.5506, which would lead the GBP/USD pair to touch the support level of 1.5407.
Dailychart's resistance levels: 1.5642 / 1.5746
Dailychart's support levels: 1.5506 / 1.5407

Trading recommendations for today:
Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5534, take profit is at 1.5501, and stop loss is at 1.5565.

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

 

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Technical analysis of USD/CHF for December 18, 2014

Fundamental overview:
USD/CHF is expected to trade in a higher range. It is underpinned by the positive dollar sentiment and ultra-loose Swiss National Bank's monetary policy. But CHF sentiment is boosted by the rise in Switzerland ZEW-Credit Suisse economic sentiment indicator to minus 4.9 in December from minus 7.6 in November. USD/CHF gains are also tempered by the franc demand on buoyant CHF/JPY cross.
Technical comment:
Daily chart is mixed as MACD is bearish, but stochastics is turned bullish near oversold levels.
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 0.9755 and the second target at 0.9785. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9605. A break of this target would push the pair further downward, and one may expect the second target at 0.9585. The pivot point is at 0.9645.
Resistance levels: 0.9755 0.9785 0.9815
Support levels: 0.9605 0.9585 0.955

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

 

[bhanu545]

Technical analysis of USD/JPY for December 18, 2014

No economic data is expected in Japan today. As for the US, it will release some economic data such as Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, Flash Services PMI, and Unemployment Claims. 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: 119.28.
Resistance. 2: 119.05.
Resistance. 1: 118.82.
Support. 1: 118.54.
Support. 2: 118.31.
Support. 3: 118.07.

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

 

[bhanu545]

Gold Technical analysis for December 18, 2014

Gold price has see a lot of volatility yesterday and despite briefly breaking below support at $1,185, bulls managed to push the precious metal back above $1,200 today. Price remains in a trading range. A trend is neutral.

Blue lines = price channel
In the daily chart as shown above, Gold price is trying once again to break above the Ichimoku cloud. Additionaly, Gold price is trading inside an upward sloping channel. Bulls have the upper hand on a daily basis as long as Gold price is above $1,180. As long as Gold price is above $1,180, we could see price toreach the upper channel boundaries again towards $1,255-60.

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

 

[bhanu545]

Technical analysis of EUR/USD for December 19, 2014

1418956550_!EURUSD.jpg Show full picture When the European market opens, some economic news will be released such as EU Economic Summit, Current Account, German PPI m/m, and GfK German Consumer Climate. However, the US will not release any economic data today. So, amid the reports, EUR/USD will move with low to medium volatility during the day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2336.
Strong Resistance:1.2329.
Original Resistance: 1.2317.
Inner Sell Area: 1.2305.
Target Inner Area: 1.2276.
Inner Buy Area: 1.2247.
Original Support: 1.2235.
Strong Support: 1.2223.
Breakout SELL Level: 1.2216.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 19, 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.
Failure of the market to defend the price zone of 1.5890-1.5900 allowed bears to push towards the support level located around 1.5600.
The GBP/USD pair looked quite oversold after such long bearish swing off 1.6500.
Bullish correction was anticipated around 1.5600 as it is a prominent WEEKLY support corresponding to multiple previous tops established back in May and June 2013. That is why the market meets prominent bullish rejection each time bears push below 1.5600 - 1.5580
Bullish fixation above the price level of 1.5760 (bullish breakout of the daily bearish channel) exposes the price levels of 1.5880 and 1.5950 for retesting.
However, less probably, a break below the recent bottoms established around 1.5580-1.5540 renders the current consolidation range as a bearish flag pattern with projected target at 1.5310 like what happened back in October.
Trade Recommendation:
Wait for bullish fixation above 1.5760 for a LONG entry with SL as daily closure below entry levels. TP should be located at 1.5800 and 1.5880.

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

 

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Technical analysis of USD/CHF for December 19, 2014

Fundamental overview:
USD/CHF is expected to consolidate with bullish bias after hitting a two-year high 0.9848 on Thursday. CHF sentiment was hurt after the Swiss National Bank said on Thursday it would charge a negative interest rate of 0.25% on deposits from January 22 to cool the strength of the Swiss franc. USD/CHF is also supported by positive dollar sentiment and franc sales on cross trades versus major currencies. But USD/CHF gains are tempered by the positions adjustment before the weekend.
Technical comment:
The daily chart is positive-biased as stochastics is in bullish mode, the MACD is turning bullish; five- 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 0.9840 and the second target at 0.9890. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9715. A break of this target would push the pair further downward, and one may expect the second target at 0.9660. The pivot point is at 0.9055.
Resistance levels: 0.9840 0.9890 0.9915
Support levels: 0.9715 0.9660 0.9605

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

 

[bhanu545]

Technical analysis of USD/JPY for December 19, 2014

In Asia, Japan will release the BOJ Press Conference, All Industries Activity m/m, and Monetary Policy Statement. However, the US will not release any economic data today. So, there is a big probability the USD/JPY pair will move with low volatility during the day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 119.54.
Resistance. 2: 119.31.
Resistance. 1: 119.08.
Support. 1: 118.79.
Support. 2: 118.56.
Support. 3: 118.32.

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

 

[bhanu545]

Technical analysis of Gold for December 19, 2014

Technical outlook and chart setups:
Gold seems to have bottomed out at $1,183.00 for now and preparing to rally towards $1,255.00 at least. A down side probability towards $1,170.00 (fibonacci 0.618 support) still cannot be ruled out though. It is recommended to remain long from yesterday, risk remains below $1,180.00. Immediate support is seen at $1,183.00 (interim), followed by $1,170.00, $1,140.00 and lower while resistance is seen at $1,235.00, followed by $1,255.00 and higher up respectively. Bulls are to remain under control till prices stay above $1,140.00 levels.
Trading recommendations:
Remain ling, stop below $1,180.00, the target is open. Good luck!

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

 

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Technical analysis of EUR/USD for December 22, 2014

When the European market opens, some economic news will be released such as Consumer Confidence. The US will also publish the economic data such as the Existing Home Sales. So, amid the reports, EUR/USD will move low volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2286.
Strong Resistance:1.2279.
Original Resistance: 1.2267.
Inner Sell Area: 1.2255.
Target Inner Area: 1.2226.
Inner Buy Area: 1.2197.
Original Support: 1.2185.
Strong Support: 1.2173.
Breakout SELL Level: 1.2166.

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