Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 29, 2014

Overview:
The GBP/USD pair has been moving downward respecting the depicted bearish channel since mid-September when the ongoing channel was initiated.
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 1.5550 where recent congestion zone was established above.
Recently, the market failed to express bullish breakout above the price level of 1.5760 (upper limit of the daily bearish channel). Instead, extensive bearish breakout was applied against the price levels of 1.5540-1.5560 (this breakdown was successfully executed on Tuesday).
Note that DAILY fixation below the recent bottoms established around 1.5540-1.5560 renders the current consolidation range as a bearish flag pattern with potential projected target at 1.5310 (similar to what happened back in October 2014).
Key level for the current week's movement is 1.5600. Persistence below it signals more bearish dominance in the market and vice versa.
In other words, another daily closure above the zone of 1.5550-1.5600 invalidates the ongoing bearish range breakout pattern, probably, extending the bullish targets towards 1.5700 levels again.

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

 

[bhanu545]

Weekly technical levels of USD/CHF for December 29, 2014

Observations:
If the trend is of an upside character, then the strength of the currency will be defined as following: USD is an uptrend and CHF is an downtrend.
Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.
Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, you will lose your profit.
Stop loss should never exceed your maximum exposure amounts.
As a rule, the market is highly volatile if the last day had a huge volatility.

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

 

[bhanu545]

Technical analysis of USD/JPY for December 29, 2014

There is no news release during this day, so be careful due to the lack of liquidity and low volatility in the quiet market.
TODAY TECHNICAL LEVELS:
Resistance. 3: 121.11.
Resistance. 2: 120.87.
Resistance. 1: 120.64.
Support. 1: 120.35.
Support. 2: 120.11.
Support. 3: 119.87.

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

 

[bhanu545]

Gold technical analysis for December 29, 2014

Gold price is consolidating below short-term resistance at $1,195-$1,200 area. Important support is at $1,184 and at $1,239. Longer-term trend remains bearish as long as price is below $1,240 and I favor a move towards $1,130 at least.

Red line = resistance
Blue line = support
Gold price is testing the resistance at $1,195 as this is where the downward sloping trend line from recent highs is found. Price is below the Ichimoku cloud and this implies that trend remains bearish. I believe that a rejection at current prices will push gold back towards $1,130. A weekly close below $1,184 will also give us a bearish signal.

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

 

[bhanu545]

Technical analysis of EUR/USD for December 30, 2014

When the European market opens, some economic news will be released such as Spanish Flash CPI y/y, M3 Money Supply y/y, and Private Loans y/y. The US will release the economic reports too such as the CB Consumer Confidence and S&P/CS Composite-20 HPI y/y. So, amid the reports, EUR/USD will move low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2215.
Strong Resistance:1.2208.
Original Resistance: 1.2196.
Inner Sell Area: 1.2184.
Target Inner Area: 1.2155.
Inner Buy Area: 1.2126.
Original Support: 1.2114.
Strong Support: 1.2102.
Breakout SELL Level: 1.2095.

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

 

[bhanu545]

Daily analysis of GBP/USD for December 30, 2014

On the H4 chart, GBP/USD continues to strengthen the bearish structure with the formation of a lower low pattern. Note that this pair formed a fractal near the resistance level of 1.5589. So, the GBP/USD pair is still likely to stay solid in the current bearish bias. For now, this pair is trying to make a breakout at the support level of 1.5512.
H4chart's resistance levels: 1.5541 / 1.5589
H4chart's support levels: 1.5512 / 1.5341

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 1.5501, take profit is at 1.5460, and stop loss is at 1.5541.

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

 

[bhanu545]

Technical analysis of USD/JPY for December 30, 2014

In Asia, Japan will not release any news, but the US will release some economic data such as CB Consumer Confidence and S&P/CS Composite-20 HPI y/y. 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: 121.07.
Resistance. 2: 120.84.
Resistance. 1: 120.60.
Support. 1: 120.31.
Support. 2: 120.08.
Support. 3: 119.84.

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

 

[bhanu545]

Technical analysis of EUR/JPY for December 30, 2014

General overview for 30/12/2014 09:30 CET
The overnight price action has finally broke out of the tight trading zone and after making a false upside breakout with doji candle, the market sharply reversed and broke the intraday support at the level of 146.43. Currently, this level is the key level in the analysis as there are two possible Elliott wave scenarios available. The main scenario indicates a completed corrective cycle in wave XX brown, and another leg to the downside is being expected to complete the last wave Z brown in wave 2 red. The alternate scenario indicates an unfinished wave XX brown in a shape of an irregular flat correction, where wave (a) and (b) blue are done and now wave (c) blue to the upside is anticipated. The confirmation of the main scenario comes with the level of 146.43 rejection. On the other hand, the confirmation of the alternative scenario comes with the level of 146.43 violation. Any new low below the level of 144.97 supports the main scenario .
Support/Resistance:
149.76 - Technical Resistance|Swing High|
148.35 - WR3
148.22 - Technical Resistance
147.74 - WR2
147.17 - WR1
147.13 - Intraday Resistance
146.54 - Weekly Pivot 146.44 - Intraday Resistance|Key Level|
145.92 - WS1
145.70 - Technical Support
145.39 - WS2
144.97 - Intraday Support|Swing Low|
144.82 - WS3
Trading recommendations:
Daytraders should stay aside and watch the price will either test the level of 146.43 (and trade the breakout or a rejection), or price will violate the level of 144.97 ( and trade the downside breakout). Please use tight SL orders as the end of the year liquidity is low and the market moves might get very sharp and sudden in either direction.

Performed by Sebastian Seliga, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Gold analysis for December 30, 2014

Overview :
Since our last analysis, gold has been trading upward. As we expected, the price tested the level of 1,210.57. Our Fibonacci retracement 61.8% at the price of 1.181.00 has been held successfully what caused price to start with an upward movement. According to the H4 time frame, we can observe demand in an ultra high volume (buying climax). My advice is to watch for potential buying opportunities near the lows. According to the daily time frame, we can observe demand in a volume above the average, which is a sign that selling gold at this stage looks risky. I placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 38.2% at the price of 1,196.00 and Fibonacci retracement 61.8% at the price of 1,212.00. If the price breaks the level of 1,212.00 in a high volume, we may see a potential testing of the level of 1,237.00.
Daily pivot Fibonacci points:
Resistance levels: R1: 1,193.22 R2: 1,197.68 R3: 1,204.90
Support levels: S1: 1,178.78 S2: 1,174.32 S3: 1,176.10
Trading recommendations:
Watch for potential buying opportunities after retracement (buy on the lows).

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

 

[bhanu545]

Technical analysis of EUR/USD for December 31, 2014

When the European market opens, the economic calendar lacks any reports. However, the US will release the economic data too such as the Crude Oil Inventories, Unemployment Claims, Natural Gas Storage, Pending Home Sales m/m, and Chicago PMI. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2216.
Strong Resistance:1.2209
Original Resistance: 1.2197.
Inner Sell Area: 1.2185.
Target Inner Area: 1.2156.
Inner Buy Area: 1.2127.
Original Support: 1.2115.
Strong Support: 1.2103.
Breakout SELL Level: 1.2096.

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

 

[bhanu545]

Technical analysis of GBP/USD for December 31, 2014

Overview:
The GBP/USD pair on December 31, 2014. The resistance is going to set at the level of 0.5598. Consequently, the descending movement will probably be lower than the 0.5600 level with the targets at 0.5520 and 0.5485. Also, it should be noted that the weekly support 1 set at the level of 1.5473. On the contrary, the support has already set at 1.5473. Furthermore, it should be noticed that it will be very profitable to buy above this level for retesting this level in the short period. Therefore, buy deals are recommended above the 1.5473 level with targets at 1.5560 and 1.5610 to reach the double top.
Technical levels:
It should be noted that the price will move between 1.5600 and 1.5522 today.
Projected high: 1.5610
Strong resistance (sell limit): 1.5610.
The resistance will be set at the price of 1.5600.
Current pivot: 1.5556
Projected low: 1.5473
Observations:
The support will set at the level of 1.5473, but the double bottom is going to set at 1.5485.
The GBP/USD pair called for bearish market from the price of 1.5610 this week.
Stop loss should never exceed your maximum exposure amounts.
As a rule, the market is highly volatile on the last day of a year.

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

 

[bhanu545]

Technical analysis of USD/JPY for December 31, 2014

In Asia, Japan will not release any news but the US will release some economic data such as Crude Oil Inventories, Unemployment Claims, Natural Gas Storage, Pending Home Sales m/m, and Chicago PMI. 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: 119.90.
Resistance. 2: 119.67.
Resistance. 1: 119.45.
Support. 1: 119.15.
Support. 2: 118.92.
Support. 3: 118.68.

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

 

[bhanu545]

Technical analysis of EUR/JPY for December 31, 2014

General overview for 31/12/2014 08:20 CET
The yesterday's intraday support has been taken out, the market has made a fresh new lows but it failed so far to follow through with the decline. The near-term outlook remains the same with two possible scenarios available. The main scenario indicates a completed corrective cycle in wave XX brown, and another leg to the downside is being expected to complete the last wave Z brown in wave 2 red. The alternate outlook indicates an unfinished wave XX brown in a shape of an irregular flat correction, where wave (a) and (b) blue are done and now wave (c) blue to the upside is anticipated. The confirmation of the main scenario comes with a rejection of the level of 146.43. On the other hand, the confirmation of the alternative outlook comes with a violation of the level of 146.43. Any new low below the level of 144.97 supports the main scenario.
Support/Resistance:
149.76 - Technical Resistance|Swing High|
148.35 - WR3
148.22 - Technical Resistance
147.74 - WR2
147.17 - WR1
147.13 - Intraday Resistance
146.54 - Weekly Pivot
146.44 - Intraday Resistance|Key Level|
145.92 - WS1
145.70 - Technical Support
145.39 - WS2
144.78 - Intraday Support|Swing Low|
144.82 - WS3
Trading recommendations:
Daytraders should refrain from trading for now. Please use tight SL orders as the end of the year liquidity is low and the market moves might get very sharp and sudden in either direction.

Performed by Sebastian Seliga, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Gold technical analysis for December 31, 2014

Gold price has held its support on Tuesday and made a big upward spike towards $1,210. This puts the short-term trend back into bulls' hands, but bears, I believe, have not said their final word. Gold price, although, it made a break above the short-term resistance trend line, has pulled back inside the bearish Ichimoku cloud.

Blue line = support
Gold price on the weekly chart continues to trade between the kijun-sen and the tenkan-sen. It continues to trade in the neutral area between important levels of $1,240 and $1,180. The Ichimoku cloud, however, remains above current weekly chart, and this implies that the longer-term trend is bearish. A close above the tenkan-sen will give gold price a push towards the cloud resistance. On the other hand, a close below the kijun-sen at $1,185 will be a bearish signal.

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

 

[bhanu545]

Technical analysis of EUR/USD for January 02, 2015

When the European market opens, some economic news will be released such as Final Manufacturing PMI, Italian Manufacturing PMI, Spanish Manufacturing PMI and Unemployment Change. The US will release its economic data too such as the ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. So amid the reports, EUR/USD will move low to medium volatility during this day.
Today's technical levels:
Breakout BUY Level: 1.2143.
Strong Resistance:1.2136.
Original Resistance: 1.2124.
Inner Sell Area: 1.2112.
Target Inner Area: 1.2084.
Inner Buy Area: 1.2056.
Original Support: 1.2044.
Strong Support: 1.2032.
Breakout SELL Level: 1.2025.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for January 2, 2015

Consolidation movement ranging between the price levels of 1.5770 and 1.5550 represented the state of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.
As anticipated, the bearish breakout below 1.5550 directly exposed lower targets. The bears have already reached price level of 1.5440 that hasn't been visited since August 2013.
Potential projection target for this range breakout pattern should be located around 1.5330-1.5350.
On the other hand, 4H re-fixation above 1.5550 temporarily pauses the current bearish trend exposing higher SUPPLY levels (initially 1.5650) to be retested first.

Performed by Michael Becker, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of USD/JPY for January 02, 2015

In Asia, Japan will not release any economic data but the US will release its ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI data. So there is a big probability USD/JPY will move with low to medium volatility during the day.
Today's technical levels
Resistance. 3: 120.82.
Resistance. 2: 120.58.
Resistance. 1: 120.35.
Support. 1: 120.06.
Support. 2: 119.82.
Support. 3: 119.58.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of gold for January 02, 2015

Technical outlook and chart setups:
Gold has again dropped into the support region of $1,170.00 as seen on the daily chart depicted here. Please note that a counter trend line (support) is being tested at the moment. Also note that a fibonacci convergence is seen around $1,166.00/70.00 price levels. A bullish bounce here is expected, and should be extremely encouraging for bulls. Immediate support is seen around $1,166.00 (fibonacci), followed by $1,143.00, $1,130.00 and lower, while resistance is seen at $1,210.00(interim), followed by $1,235.00, $1,255.00 and higher up respectively. It is still recommended to hold long positions and watch for a reaction at the trend line test.
Trading recommendations:
Remain long, stop below $1,250, target is open. Good luck!

Performed by Harsh Japee, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Daily analysis of silver for January 02, 2015

Overview
The H4 chart demonstrates today that silver still cannot break the support level of 15.50 and is currently trading above it and below the resistance level of 16.00, so we should wait for the mid-day closing. If the metal manages to close 4H below it, there might be a good opportunity to sell until it reaches the support level of 15.20 after closing 4H below. After that we should wait for breaking out this support level for the bearish move to continue . In case silver is able to break the support levels of 15.20 and closes 4H below them, we will get bearish strength which will provide new sell signals and enable the support level of 15.00 as a target level.
Resistance and support levels:
R3 (16.75), R2 (16.50), R1 (16.00),
S1 (15.50), S2 (15.20), S3 (15.00).

Performed by Hossam Soliman Ali, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for January 5, 2015

As anticipated previously, an obvious 4H break below 1.2150 exposed the full-range breakout projection target around 1.2000.
Following such a strong bearish swing, the market should be looking for a considerable DEMAND level to pause around.
The lower limit of the current movement channel has been breached after the bearish GAP that occurred at the market opening this Monday.
Further price action should be considered as the current price levels haven't been visited since May 2010.
Trade recommendations :
Risky traders should now be looking for LONG positions around these historical low prices after such quick bearish decline off 1.2550.
However, conservative traders should be looking for SHORT positions. Low-risk SELL entries can be taken around price level 1.2250 where a recent SUPPLY zone is located.

Performed by Michael Becker, Analytical expert
InstaForex Group © 2007-2015