InstaForex Wave Analysis - page 180
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Daily analysis of Silver for July 01, 2014
Overview
Based on the H4 chart above, silver is still stabilizing between the Support of 20.90 and the Resistance level of 21.20 after its failure to break the Resistance level last week. If silver continues its bearish move and manages to break the Support level of 20.90 which is being tested now, it would provide a strong indicator for the downward move and open the way towards the Support level of 20.50 as a kickoff. In this case we should wait for the breakout of this level to continue the bearish move. On the other hand, the breakout of this Resistance level will denote a bullish strength providing new buy signals from this level till reaching the Resistance level of 21.50 then 21.75.
Resistance and support levels: R3 (21.75), R2 (21.50), R1 (21.20), S1 (20.90), S2 (20.50), S1(20.20).
More analysis - at instaforex.com
Technical analysis of Silver for July 02, 2014
Technical outlook and chart setups:
1. Silver is seen to be topping out around the $21.20 handle at the moment. A dip is expected through the $19.50-$20.00 levels at least, if not lower (potential low cannot be ruled out though). Remain short, risk remains around $21.50/60. 2. Support is seen at $19.50, followed by $19.00, $18.60 and lower while resistance is seen at $21.70, followed by $22.30 and higher up. 3. The structure indicates that Silver may at least retrace/correct itself towards $19.50 levels. The resistance turned support line is also seen to be passing there.
Trading recommendations:
Remain short, stop at $21.50, target is open.More analysis - at instaforex.com
Daily analysis of Silver for July 03, 2014
Overview
According to our yesterday's expections, the prices close below the Resistance level of 21.20 would give new opportunities for sell signals. As shown in the H4 chart, the metal has failed to break the Resistance level of 21.20 and bounced from it. Currently, the metal is trying to break the Support level of 20.90 and is approachig it to continue its bearish move. On the other hand, the metal's rebound from the Support level of 20.90 cancels the bearish scenario.
Resistance and support levels:
R3 (21.75), R2 (21.50), R1 (21.20), S1 (20.90), S2 (20.50), S1(20.20).More analysis - at instaforex.com
Technical analysis of Gold for July 07, 2014
Technical outlook and chart setups:
1. Gold is finally seen to be reversing after printing highs at $1,330.00 levels last week. The downfall should accelerate towards at least $1,290.00/80.00 levels if not lower. Recommendations are to remain short for now.
2. Support is seen at $1,280.00, followed by $1,260.00, $1,240.00, $1,230.00 and lower while resistance is seen at $1,350.00/60.00, followed by $1,388.00 and higher respectively.
3. The structure indicates that Gold is headed lower for now before reversing.
Trading recommendations:
Remain short, stop at $1,340.00, target is open.
More analysis - at instaforex.com
Technical analysis of USD/JPY for July 08, 2014
In Asia, Japan will release the Current Account, Bank Lending y/y, Economy Watchers Sentiment. The US will release some economic data such as NFIB Small Business Index, JOLTS Job Openings. So there is a big probability the USD/JPY pair will move with low volatility during the day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.29.
Resistance. 2: 102.09.
Resistance. 1: 101.89.
Support. 1: 101.64.
Support. 2: 101.44.
Support. 3: 101.24.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.24) and resistance 3 (102.29). 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
Daily analysis of GBP/JPY for July 08, 2014
In H4 chart, the price closed below the support level of 174.75 which gave a new opportunity for more bearish signals today. As shown, the price has already broken the Support area and now is approaching the support level of 173.50. Closing below this level again may give us more sell signals till the price tests the support level of 172.75. So, we can consider our first target a few pips above this support level, then 172.30 as the second level. But first, we should wait for breaking the Support level of 173.50 and closing 4H below it, before making a decision. But the price's closing above the support level cancels the bearish scenario.
Resistance and support levels:
R3 (175.30), R2 (174.75), R1 (174.00), S1 (173.50), S2 (172.75), S3 (172.30).More analysis - at instaforex.com
Technical analysis of EUR/USD for July 9, 2014
Trading recommendations:
According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3585 and 1.3625. Moreover, it should be noted that the market was quite stable and the downward trend was also obvious. Futhermore, likewise, the range was around 130 pips last week. Additionally, the value of 38.2% Fibonacci retracement levels is 1.3629 for that the key level of 1.3626, is available for a downtrend to confirm the bearsh market. Therefore, sell deals are recommended below the 1.3626 level with targets at 1.3585 (the double bottom) as it will resume towards 1.3552 in order to test weekly support 1. It should be noted the descending movement will probably be lower than 1.3511 level (it will form a new double bottom). Please check out the market volatility before investing, because the sight price may have already been reached and the scenarios would become invalidate.
More analysis - at instaforex.com
Technical analysis of GBP/CHF for July 11, 2014
Technical outlook and chart setups:
1. The GBP/CHF pair is bouncing off the fibonacci 0.50 support levels around 1.5250 levels, as seen here. Please, note that the past resistance turned to support is around the same levels. Recommendations are to initiate long positions, risk remains just below 1.5240.
2. Support is seen at 1.5150, followed by 1.4950, 1.4780 and lower while resistance is seen at 1.5350/60 levels respectively.
3. The structure indicates that GBP/CHF pair may manage to push higher up from 1.5250 levels. Only a break below 1.5150 is a concern.
Trading recommendations:
Initiate longs, stop below 1.5240, target is open.More analysis - at instaforex.com
Technical analysis of Silver for July 14, 2014
Technical outlook and chart setups:
1. Silver is trading at the $21.40 levels for now. It is expected to correct itself at least towards $20.00 and $19.75 levels before rallying further up. Recommendations are to remain flat for now and look to go long around the fibonacci support level as depicted here.
2. Support is seen around $19.75 (fibonacci), followed by $19.00, $18.60 and lower, while resistance is seen at $21.70, followed by $22.30 and higher up respectively.
3. The structure indicates that Silver is a clear buy on dips from here on.
Trading recommendations:
Remain flat for now. Consider to buy lower.More analysis - at instaforex.com
Technical analysis of USD/JPY for July 17, 2014
In Asia, Japan will not release any economic data, but the US will release some economic data such as Building Permits, Unemployment Claims, Housing Starts, Philly Fed Manufacturing Index, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session. TODAY's TECHNICAL LEVELS: Resistance. 3: 102.11. Resistance. 2: 101.91. Resistance. 1: 101.71. Support. 1: 101.47. Support. 2: 101.27. Support. 3: 101.07. DESCRIPTION: Please, pay attention to the levels of support 3 (101.07) and resistance 3 (102.11). 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