InstaForex Wave Analysis - page 174
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Technical analysis of Gold for April 01, 2014
Gold prices may recieve support from the Asian physical demand, but ultimately we would expect the rising costs of production to provide a floor under which gold prices will stop falling. As these rising costs of production catches up with the price of gold, so prices will form a base and eventually begin moving higher once more.
In the Asia's trading session, gold is trading at $1,282. Before I have started writing this report, gold dropped to $1,277 and then pulled back. Due to oversold levels in the H1 and H4 chart, gold pulled back from the lower levels. As I recommended earlier, gold will gain some buying support between $1,279-$1,260 levels. In the H1 chart, the price is making some base around the level of $1,282. I prefer to go long with sl at $1,277 for targets at $1,287, $1,291, and $1,293 levels. On the upside, $1,294 is the strong resistance level for intraday perspective, above this the price will push towards $1,298 and $1,304 levels. On the down side, if the price breaks the $1,277 levels, go short for targets at $1,270, $1,265, and $1,261 levels.
More analysis - at instaforex.com
Fundamental analysis of USD/CAD for April 02, 2014
We expect this pair to continue to consolidate with the possibility of a breakout or breakdown after Friday's numbers, but until then it is going to be very difficult to imagine the market doing anything of substance as the area has been so well-defined. The pair behavior is very sensitive to these particular announcement. Because of this, we feel that this is one that we can only buy at this moment time, at least until we see what the job numbers (US-non farm payroll, CAD-employment data) are.
The pair has been in a downtrend from 1.1279 and it has been consolidating near 1.1 levels. RSI is supporting for pull back view in the H4 & H1 charts. For hourly basis, the pair is facing resistance at 1.0380. One can enter longs above this level for targets at 1.0469 immediately. Above this, 1.1070 and 1.10917 are the resistance levels. On the downside, 1.1 is the strong support.
On an intraday basis, the pair is facing resistance at 1.105. If the pair crosses the purple line, it will fly up to 1.1081 (200EMA) and 1.1123 (50SMA). This view is valid until it breaks the 1.1 support levels. On the down side, if the pair breaks the 1.1 levels, the pair will move up to 1.0955 (March 06 low) and 1.0910 (February's low) and 1.08 levels. Until it holds the 1.1 levels, we can see a bit of pullback and bear attack will be possible, once the pair starts trading below 1.1 levels.
In fact, it's not until we get below 1.09 that we could possibly think about shorting this market. It obviously looks very supportive, and as a result, we simply will not sell until we are well below that level. In the meantime, even a pullback from here should be a nice buying opportunity as far as we can say, and with that we are in somewhat of a buy only mode".
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Technical analysis of Silver for April 03, 2014
Technical outlook and chart setups:
1. Silver finally shows concrete signs of having bottomed out around $19.50 now. Yesterday the metal rallied past the $20.00 levels comfortable. It is expected to continue the rally in coming sessions. The chart view here shows a concrete bullish reversal signal. Recommendations are to remain long for now, risk remains at $19.25.
2. Resistance is at $21.70 (bulls would like to take this out now), followed by $22.30 and $23.00, while support is seen at $19.00, followed by $18.75 and lower respectively.
3.The structure remains constructive for bulls till prices remain above $19.00. $20.20/30 is immediate price target before a pullback.
Trading recommendations:
Remain long for now, set stop at $19.00, target is open.More analysis - at instaforex.com
Technical analysis of GBP/USD for April 4, 2014
Overview:
It should be noted that the first key level will set at the level of 1.6585 and the second key level will set at the 1.6650 level on April 4, 2014. Also, it should be noticed that the levels are coinciding with the weekly pivot point and the double top respectively. Equally important, the price of GBP/USD pair has still been moving between 1.6570 and 1.6613. Furthermore, the trend has been very clear indicating downward direction. As it is known, sellers are asking for a high price. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.6650 in H1 chart. As a result, sell at the price of 1.6650 with the first target of 1.6585 in order to test the weekly pivot point and it might resume to 1.6520. On the other hand, your stop loss should be placed above the 1.6650, hence it will helpful to set it at the price of 1.6683. Additionally, it should be noted that the range was about 91 pips yesterday.
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Technical analysis of USD/JPY for April 07, 2014
In Asia, Japan will release the Leading Indicators and the US will release some economic data such as US-Consumer Credit m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low volatility during the US session.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.77.
Resistance. 2: 103.57.
Resistance. 1: 103.35.
Support. 1: 103.11.
Support. 2: 102.91.
Support. 3: 102.70.
DESCRIPTION:
Please, pay attention to the levels of support 3 (102.70) and resistance 3 (103.77). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
More analysis - at instaforex.com
Technical analysis of USD/JPY for April 07, 2014
In Asia, Japan will release the Leading Indicators and the US will release some economic data such as US-Consumer Credit m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low volatility during the US session.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.77.
Resistance. 2: 103.57.
Resistance. 1: 103.35.
Support. 1: 103.11.
Support. 2: 102.91.
Support. 3: 102.70.
DESCRIPTION:
Please, pay attention to the levels of support 3 (102.70) and resistance 3 (103.77). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
More analysis - at instaforex.com
Technical analysis of USD/CHF for April 08, 2014
The pair is in an uptrend at 0.87 levels. The pair made a high at 0.8952 on Friday. Currently, the pair is trading at 0.8876 in an Aisa's trading session. The pair is facing a strong resistance at 0.88788 (50SMA); above this, 0.8928 is a strong resistance level. Below 50SMA, 0.8866 and 0.8853 are the small support levels. Until the pair trades below the 50SMA, it looks weak. RSI is giving a buying signal. The pair is looking for a strong base to change its direction upwards. After a day close above the 0.8878 level, fresh up move will be intact for 0.8928 first and 0.8952. We will see new high (0.90) when the pair closes above the 0.8928 level. On the down side, the levels of 0.8815, 0.8787, and 0.8699 are the support levels.In the H4 chart, the pair is making a lower low and higher highs formation. Currently, it is looking for support levels. RSI is not favoring longs. The support levels exist at 0.8871 and 0.8859. In case of a break below these levels, it will fall to 0.884, 0.8820, and 0.8785 levels. On the upside, if the pair holds the 0.8871 and 0.8859 levels intradaily, it will fly up to 0.8889 and 0.8930 levels.
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Technical analysis of EUR/USD for April 09, 2014
The pair is in a downtrend from 1.3967 levels. In the H4 chart, the pair came out from the 10-day trading pattern. The pair is doing what the cable is doing. The pair is facing resistance at 1.3810, above that, at 1.3820. The momentum indicators are favoring sell side. For 2 or 3 days perspective, sell on rallies is the best strategy. On the up side, if the pair crosses the 1.3820 levels, it will fly up to 1.3876 levels.
The positional trend will change once the pair closes above the 1.396 levels. On the down side, the pair has strong support at 1.3770, below this, 1.3755 is the strong support. Weakness will persist in this pair when the pair breaks and closes below the 1.3755 level. If it happens, the pair will drift all the way to 1.3673 and 1.3643 levels easily. If the pair closes below 1.3737 (yesterday's low), weakness starts in this pair.
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Technical analysis of USD/JPY for April 10, 2014
In Asia, Japan will release the Core Machinery Orders m/m, Bank Lending y/y, Prelim Machine Tool Orders y/y and the US will release some economic data such as Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction, Federal Budget Balance. So there is a big probability the USD/JPY will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.46.
Resistance. 2: 102.26.
Resistance. 1: 102.06.
Support. 1: 101.81.
Support. 2: 101.61.
Support. 3: 101.41.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.41) and resistance 3 (102.46). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
More analysis - at instaforex.com
Technical analysis of USD/JPY for April 11, 2014
In Asia, Japan will release the Monetary Policy Meeting Minutes, CGPI y/y, M2 Money Stock y/y, 30-y Bond Auction; the US will release some economic data such as PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian and US sessions.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.10.
Resistance. 2: 101.90.
Resistance. 1: 101.70.
Support. 1: 101.45.
Support. 2: 101.25.
Support. 3: 101.05.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.05) and resistance 3 (102.10). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
More analysis - at instaforex.com