Technical analysis on EU,GU and majors

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for January 5, 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 1.5170 that hasn't been visited since August 2013.
Potential projection target for flag continuation pattern should be located around 1.5140 where the lower limit of the current movement channel is located.
Conservative traders should wait for a bullish pull-back towards the recent SUPPLY zone around 1.5480-1.5550 for a low-risk SELL entry. Stop Loss should be located above 1.5560.
Note that, price level of 1.5480 corresponds to 50% Fibonacci level as well as multiple previous bottoms established back in December.

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

 

[bhanu545]

Technical analysis of USD/JPY for January 05, 2015

In Asia, Japan will release its Final Manufacturing PMI figures and the US will release its Total Vehicle Sales data. So there is a big probability the USD/JPY pair will move with low volatility during the day.
Today's technical levels:�
Resistance. 3: 120.90.
Resistance. 2: 120.67.
Resistance. 1: 120.43.
Support. 1: 120.14.
Support. 2: 119.91.
Support. 3: 119.67.

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

 

[bhanu545]

Technical analysis of gold for January 5, 2015

Gold price is testing important resistance near $1,200. The trend remains bearish as long as gold price is below $1,205. The weekly trend remains neutral as long as gold price is between $1,240 and $1,170. Gold is now at a price level where I prefer to open short positions rather than long positions.

Red line= resistance
Blue line= support
Gold price in the short-term is making lower highs and lower lows. Trend remains bearish as long as price is below $1,205. If this level is broken upwards then $1,213 will be tested and most probably gold will test also $1,240. At current price levels I prefer to look for short positions with $1,205 as stop. Target at $1,170. If $1,170 is broken on a daily basis then we should expect a price move to $1,140.

Performed by Alexandros Yfantis, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of silver for January 05, 2015

Technical outlook and chart setups:
Silver has yet again bounced off the support region around $15.50 levels as expected last week. The metal is currently trading at sub $16.00 levels and is poised to rally beyond $16.50 as immediate short-term target. Immediate support is seen at $15.50 (interim), followed by $14.50 and lower while resistance is seen at $16.40/50, followed by $17.20/30, $17.40/50, $17.80/18.00 and higher respectively. As discussed earlier, silver might have carved a right shoulder of a potential inverted head and shoulder reversal at $15.50 levels. If this structure holds true, the metal will rally past $18.00 and $23.00 levels pretty soon.
Trading recommendations: Remain long, stop at $14.25, target is open. Good luck!

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

 

[bhanu545]

GBP/USD Intraday Technical Analysis for January 6, 2014

Overview:
The resistance level of the GBP/USD pair has set at the level of 1.5344. This level is acting as strong resistance and it coincides with the ratio of 38.2% of Fibonacci retracement levels in the daily chart. Therefore, the first key level will set at the level of 1.5344 (the weekly pivot point). Furthermore, the trend was very clear and was indicating a downtrend. Thus, we expect that the trend is going to call for a bearish market at the level of 1.5344 because sellers are asking for a high price. As a result, sell at the price of 1.5344 with the target of 1.5178 in order to test the double bottom and continue towards the 1.5131 level. Also, it should be noted that the level of 1.5178 represents the weekly support 2.
Notes:
We expect a range about 68 pips today.
The value of 38.2% Fibonacci retracement levels is 1.5344.
The weekly pivot point will be set at the price of 1.5344.
The level of 1.5282 and 1.5344 will confirm the bearish market.
Volatility was 195.58; 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 © 2007-2015

 

[bhanu545]

Technical analysis of EUR/USD for January 06, 2015

When the European market opens, some economic news will be released such as Final Services PMI, Italian Services PMI, and Spanish Services PMI. The US will release its Factory Orders m/m, ISM Non-Manufacturing PMI, and Final Services PMI. So amid the reports, EUR/USD will move low to medium volatility today during this day.
Today's technical levels:
Breakout BUY Level: 1.2000.
Strong Resistance:1.1993.
Original Resistance: 1.1981.
Inner Sell Area: 1.1969.
Target Inner Area: 1.1941.
Inner Buy Area: 1.1913.
Original Support: 1.1901.
Strong Support: 1.1889.
Breakout SELL Level: 1.1882.

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

 

[bhanu545]

Technical analysis of USD/CHF for January 06, 2015

Fundamental overview:
USD/CHF is expected to consolidate with a bullish bias after hitting four-year high 1.0108 Monday. USD/CHF is underpinned by bullish USD sentiment (ICE spot dollar index hit nine-year high 91.775 Monday, last at 91.39) amid expectations that the U.S. economy will pull ahead of the rest of the world this year and that the Federal Reserve would start raising interest rates in coming months ahead of other major central banks as well as a jump in U.S. ISM-NY business index to 70.8 in December from 62.4 in November, weaker--than-expected Switzerland December PMI of 54.0 (versus forecast 54.3), franc sales on soft CHF/JPY cross and on buoyant AUD/CHF, NZD/CHF and CAD/CHF crosses, and ultra-loose Swiss National Bank's monetary policy.
Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at overbought levels, 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 1.0140 and the second target at 1.0180. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9980. A break of this target would push the pair further downward, and one may expect the second target at 0.9930. The pivot point is at 1.0030.
Resistance levels: 1.0140 1.0180 1.0210
Support levels: 0.9980 0.9930 0.99

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of USD/JPY for January 06, 2015

Fundamental overview:
USD/JPY is expected to trade in lower range. It is undermined by the flows to haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 11.97% to 19.92, S&P 500 closed 1.83% lower at 2,020.58 overnight) as concerns mount over a possible Greek exit from the eurozone, while a renewed slide in oil prices to fresh five-and-a-half year lows and news that German inflation had fallen to a five-year low in December raised an uncertain global growth outlook. USD/JPY is also weighed by the lower U.S. Treasury yields (10-year at 2.035% versus 2.123% late Friday) and Japan exporter sales. But USD/JPY losses are tempered by the demand from Japan importers, Bank of Japan's large-scale monetary easing policy and bullish USD sentiment (ICE spot dollar index hit nine-year high 91.775 Monday, last at 91.39) amid expectations that the U.S. economy will pull ahead of the rest of the world this year and that the Federal Reserve would start raising interest rates in coming months ahead of other major central banks and jump in U.S. ISM-NY business index to 70.8 in December from 62.4 in November.
Technical comment:
Daily chart is mixed as MACD is bearish, stochastics is turning bearish at overbought levels, but five-day moving average is meandering sideways above rising 15-day moving average.
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 120.30 and the second target at 120.75. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 118.80. A break of this target would push the pair further downward and one may expect the second target at 118.30. The pivot point is at 119.90.
Resistance levels: 120.30 120.75 121
Support levels: 118.80 118.30 118

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of gold for January 06, 2015

Technical outlook and chart setups:
Gold has rallied past the $1,210.00 levels as seen on the 4H chart depicted here, taking out the first resistance. A break could be expected before it rallies further towards $1,238.00 levels. It is recommended to remain long for now and also loon to add further on dips. Please also note that the immediate trend line resistance has been broken and prices have moved into the buy zone. Immediate support is seen at $1,200.00 levels (resistance turned support line), followed by $1,186.00, $1,178.00 and lower while resistance is seen at $1,223.00 followed by $1,235.00 and higher respectively. Bulls should remain in control till prices remain above $1,170.00 from here on.
Trading recommendations:
Remain long for now, stop below $1,250.00, target is open. Good luck!

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

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for January 7, 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 that started around 1.2550.
However, conservative traders should be looking for SHORT positions in such strong bearish momentum. Bullish pull-back towards higher price levels are needed.
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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for January 7, 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 1.5160 that hasn't been hit since August 2013.
Potential projection target for the flag continuation pattern should be located around 1.5140 down to 1.5100, where the lower limit of the current movement channel is located.
Conservative traders should wait for a bullish pull-back towards the recent SUPPLY zone around 1.5480-1.5550 for a low-risk SELL entry. The stop loss should be located above 1.5560.
Note that the price level of 1.5480 corresponds to 50% Fibonacci level as well as multiple previous bottoms established back in December.

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

 

[bhanu545]

Technical analysis of USD/JPY for January 07, 2015

Fundamental overview:
USD/JPY is expected to consolidate with bearish bias after hitting three-week low 118.05 on Tuesday. It is undermined by the selling of yen crosses amid decreased risk appetite (VIX fear gauge rose 6.02% to 21.12, S&P 500 closed 0.89% lower at 2,002.61 overnight) as lingering eurozone worries, continued fall in oil prices to fresh five-and-a-half year lows and bigger-than-expected drop in U.S. ISM non-manufacturing PMI to 56.2 in December from 59.3 in November (versus forecast 58.0) stoked concerns over the global growth outlook. USD/JPY is also weighed by the lower U.S. Treasury yields (10-year at 1.949% versus 2.037% late Monday) and Japan exporter sales. But USD/JPY losses are tempered by the demand from Japan importers and Bank of Japan's large-scale monetary easing policy, broadly firmer dollar undertone (ICE spot dollar index hit nine-year high 91.808 Tuesday, last at 91.73 versus 91.36 early Tuesday) and smaller-than-expected 0.7% drop in U.S. November factory orders (versus forecast -0.8%).
Technical comment:
Daily chart is negative-biased as MACD and slow stochastic indicators bearish, five-day moving average is staged bearish crossover against 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 the pivot point. Short positions are recommended with the first target at 118.5. A break of this target will move the pair further downward to 118. The pivot point stands at 119.50. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 119.95 and the second target at 120.3.
Resistance levels: 119.95 120.3 120.75
Support levels: 118.5 118 117.75

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of USD/CHF for January 07, 2015

Fundamental overview:
USD/CHF is expected to consolidate with bullish bias after hitting four-year high 1.0138 this morning.It is underpinned by the broadly firmer dollar undertone (ICE spot dollar index hit nine-year high 91.808 Tuesday, last at 91.73 versus 91.36 early Tuesday); smaller-than-expected 0.7% drop in U.S. November factory orders (versus forecast -0.8%) , franc sales on soft CHF/JPY cross and contagion from weak euro on the Swiss franc and ultra-loose Swiss National Bank's monetary policy.
Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at overbought levels, 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 1.0155 and the second target at 1.020. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9985. A break of this target would push the pair further downward, and one may expect the second target at 0.9930. The pivot point is at 1.0030.
Resistance levels: 1.0155 1.02 1.0235
Support levels: 0.9985 0.9930 0.99

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of gold for January 7, 2015

Gold price is in a short-term uptrend confirmed after breaking above $1,200-$1,205 resistance. The triangle scenario I posted in my analysis yesterday is the most probable outcome if gold manages to hold above $1,200.

In the daily chart, we see gold price above the Ichimoku cloud heading towards the upper triangle boundaries. I expect it to find resistance at $1,235-$1,240. A reversal from that level will strnegthen my triangle scenario. The trend is bullish in the daily chart but the corrective nature of the rise implies that this sideways move since middle October is correction before the longer-term down trend resumes.

Performed by Alexandros Yfantis, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of EUR/USD for January 08, 2015

When the European market opens, some economic news will be released such as French 10-y Bond Auction, PPI m/m, Retail Sales m/m, and German Factory Orders m/m .The US will also unveil its Natural Gas Storage, Unemployment Claims, Challenger Job Cuts y/y, and Consumer Credit m/m data. So amid the reports, EUR/USD will move medium volatility during this day.
Today's technical levels:
Breakout BUY Level: 1.1895.
Strong Resistance:1.1888.
Original Resistance: 1.1877.
Inner Sell Area: 1.1866.
Target Inner Area: 1.1838.
Inner Buy Area: 1.1810.
Original Support: 1.1799.
Strong Support: 1.1788.
Breakout SELL Level: 1.1781.

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

 

[bhanu545]

Daily analysis of GBP/USD for January 08, 2015

On the H4 chart, GBP/USD is forming a lower low pattern below the resistance level of 1.5148, but it is noteworthy that this pair has formed a fractal near the support level of 1.5017, which would be an indication of GBP/USD conducting a bullish retracement above the resistance level of 1.5148 in the coming hours.
H4 chart's resistance levels: 1.5148 / 1.5341
H4chart's support levels: 1.5017 / 1.4900

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 1.5074, take profit is at 1.5018, and stop loss is at 1.5131.

Performed by Felipe Erazo, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of USD/JPY for January 08, 2015

Fundamental overview:
USD/JPY is expected to consolidate with a buoyant tone. It is underpinned by the yen-funded carry trades amid improved investor risk sentiment (VIX fear gauge eased 8.57% to 19.31; S&P 500 closed up 1.16% at 2,025.9 overnight) as data showing the eurozone fell into deflation for the first time in more than five years bolstered expectations for the European Central Bank to engage in full-blown quantitative easing as early as Jan. 22, while balanced minutes of the Federal Reserve's December policy meeting suggest the U.S. central bank will be in no rush to raise interest rates before the middle of this year. USD/JPY is also supported by the demand from Japan importers, the Bank of Japan's large-scale monetary easing policy and positive dollar sentiment (ICE spot dollar index hit nine-year high 92.265 Wednesday, last at 92.02 versus 91.73 early Wednesday) on narrower-than-expected U.S. November trade deficit of $39 billion (versus forecast $42 billion), while ADP report showing 241,000 increase in U.S. December private sector jobs--although below forecast +250,000--bolstered hopes that Friday's U.S. non-farm payrolls data would be robust. But USD/JPY gains are tempered by the Japan exporter sales, lower U.S. two-year Treasury yields (last at 0.613% versus 0.633% late Tuesday) after release of FOMC minutes.
Technical comment:
Daily chart is still negative-biased as MACD and slow stochastic indicators are in bearish mode, 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 the pivot point. Short positions are recommended with the first target at 118.5. A break of this target will move the pair further downward to 118. The pivot point stands at 119.50. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 119.95 and the second target at 120.3.
Resistance levels: 120.3 120.65 121
Support levels: 118.65 118.05 117.75

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of USD/CHF for January 08, 2015

Fundamental overview:
USD/CHF is expected to consolidate with bullish bias after hitting four-year high 1.0176 on Wednesday.It is underpinned by the positive dollar sentiment; contagion from the weak euro on the Swiss franc and ultra-loose Swiss National Bank's monetary policy. But USD/CHF gains are tempered by the franc demand on buoyant CHF/JPY cross.
Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at overbought levels, 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 1.0225 and the second target at 1.0255. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 1.0090. A break of this target would push the pair further downward, and one may expect the second target at 1.0030. The pivot point is at 1.0125.
Resistance levels: 1.0225 1.0255 1.0275
Support levels: 1.0090 1.0030 0.9985

Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Technical analysis of gold for January 8, 2015

Gold may be forming a bullish flag with a possible target of $1,270. The short-term trend is sideways while gold trades between $1,220 and $1,200. The medium-term trend is neutral as gold price is forming a big sideways triangle. The long-term trend remains bearish.

In the 4 hour chart above we observe the triangle pattern that is being formed. Strong resistance by this pattern is at $1,230. Even if price breaks above $1,220 it will need to break above $1,230-40 in order to confirm the bullish flag and the target of $1,270. Support is found by the Ichimoku cloud at $1,195. I prefer to stay neutral.

Performed by Alexandros Yfantis, Analytical expert
InstaForex Group © 2007-2015

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for January 9, 2015

The market currently looks oversold below price level of 1.2000 and 1.1950 (prominent psychological SUPPORT & the lower limit of the movement channel on the 4H chart).
Currently, selling the EUR/USD pair is considered a high-risk position at such historically low prices. Bullish pullback should be anticipated looking for better prices to sell the pair off.
The price level of 1.1950 is the recently established SUPPLY level. Intraday short positions can be taken there, provided that the market keeps trading below price level of 1.2000.

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