InstaForex Wave Analysis - page 182
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Intraday recommendation of GBP/USD for August 01, 2014
The cable pushed towards 20WSma at 1.6857, and is trading above that. In yesterday's session, the cable hit the 61.8 fib level and exactly closed at that level. The daily momentum oscillators are indicating an oversold level. On the down side, it has strong support at 1.6857, 1.6785 (80 fib level) and 1.6763 (30WSma) levels. Resistance is at 1.6923, 1.6975 and 1.70 levels. Until the pair trades below 1.70, the bears will have the grip in the new month as well.
Support 1.6857 1.6785 1.6763
Resistance 1.6925 1.6955 1.70
Intraday cmp 1.6878
More analysis - at instaforex.com
USD/CAD intraday technical levels and trading recommendations for August 4, 2014
Since the USD/CAD pair failed to show enough bullish momentum above 1.1200 during the last visit on March 20, the pair has been downtrending within the depicted bearish channel, which managed to push towards the price zone between 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart) where a prominent congestion zone was established.
As depicted on the chart, bullish rejection was expressed at retesting of the lower limit of the bearish channel around 1.0630 (It's the origin of the previous bullish impulse initiated in December 2013 as well).
A valid BUY entry was suggested. Expected targets got visited around 1.0750 and 1.0820.
The USD/CAD pair had a strong resistance zone located between 1.0830 (61.8% Fibonacci Level) and 1.0945 ( 50% Fibonacci Level of the same bearish swing ).
The price zone around 1.0940 (50% Fibonacci Level ) remains the nearest Intraday resistance level that comes to meet the pair.
Bearish rejection may be anticipated at retesting especially after such a long bullish rally that originated off 1.0650 and 1.0710. However, daily closure above which enables the bulls to shoot towards 1.1050 initially.
On the other hand, the price level of 1.0775 remains the nearest support to meet the pair where a valid BUY entry may be taken with Stop Loss below 1.0715.
More analysis - at instaforex.com
Technical analysis of USD/JPY for August 05, 2014
In Asia, Japan will release the 10-y Bond Auction and the US will release some economic data such as Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders m/m, IBD/TIPP Economic Optimism. 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: 103.13. Resistance. 2: 103.93. Resistance. 1: 102.72. Support. 1: 102.49. Support. 2: 102.29. Support. 3: 102.08.
More analysis - at instaforex.com
Technical analysis of Silver for August 06, 2014
Technical outlook and chart setups:
1. Silver is seen to be forming bottom around $19.70/80 levels as seen here and expected earlier. A morning star bullish reversal candlestick is potentially being produced on the 8H chart as seen here. A confirmation here would be extremely bullish for the metal.
2. Support is seen at $19.40, followed by $18.60 and lower while resistance is seen at $20.80, followed by $21.20 and higher respectively.
3. The structure indicates that Silver is preparing to reverse from current levels.
Trading recommendations:
Initiate long positions, stop at $19.40, target is open.More analysis - at instaforex.com
Intraday analysis of GBP/JBP for August 07, 2014
Though the pair hit the 100DSma and closed below that, in today's session, the pair opened with support at yesterday's close and started moving up. For an intraday basis, the pair favors bulls. The pair has resistance at 172.65, above this, it can fly up to 172.90, 173.10 and 173.20. The pair has support at 172.40, below this, 172.25-172.20.
Buy above 172.75 for targets at 173, 173.30, and 173.50.
More analysis - at instaforex.com
ITechnical analysis of Gold for August 08, 2014
Technical outlook and chart setups:
1. Gold is pushing higher as expected since $1280.00 levels. The metal could pullback towards the $1,290.00/95.00 region again, before continuing further rally. Recommendations are to hold on to long positions and also look to add further on dips.
2. Support is seen at $1295.00/90.00, followed by $1280.00 and lower while resistance is seen at $1,224.00 followed by $1,240.00 and higher respectively.
3. The structure indicates that Gold remains clear buy on dips for now.
Trading recommendations:
Hold long positions for now, also add towards $1,295.00, stop at $1,280.00.
More analysis - at instaforex.com
Technical analysis of EUR/JPY for Aug 11, 2014
Technical outlook and chart setups:
1. The EUR/JPY pair has printed fresh lows around 135.70/80 levels before pulling back sharply as seen on the chart view here. A hammer has been produced on the daily chart indicating that a bullish reversal/pull back may be on cards. Waiting for further confirmation to go long.
2. Support is seen at 135.70 (interim), followed by 134.00 levels and lower while resistance is seen at 138.00, followed by 139.20 and higher respectively.
3. The structure indicates that EUR/JPY could possibly begin a pull back rally from current lows.
Trading recommendations:
Remain flat for now. Look for further confirmation to go long again.
More analysis - at instaforex.com
Technical analysis of GBP/CHF for August 12, 2014
Technical outlook and chart setups:
1. The GBP/CHF pair could still continue to drift lower until 1.5070 levels as depicted here. The pair may stage intermediary pullback rallies though. As discussed earlier, a potential head and shoulder top and reversal is under way (with right shoulder around 1.5350).
2.Support is seen at 1.5140, followed by 1.4960/70 and lower while resistance is seen at 1.5350, followed by 1.5430/50 respectively.
3. The structure indicates that GBP/CHF could continue drifting lower at least towards 1.5070 before a meaningful pullback can materialize. Trading recommendations: Remain short, move stop to break even, target is 1.5070.
More analysis - at instaforex.com
Technical analysis of USD/JPY for August 13, 2014
In Asia, Japan will release the Prelim GDP q/q, Monetary Policy Meeting Minutes, Prelim GDP Price Index y/y, and the US will release some economic data such as Core Retail Sales m/m, Retail Sales m/m, Business Inventories m/m, Crude Oil Inventories, 10-y Bond Auction. So there is a big probability the USD/JPY will move with low to medium volatility during the day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.78.
Resistance. 2: 102.38.
Resistance. 1: 102.46.
Support. 1: 102.13.
Support. 2: 101.93.
Support. 3: 101.73.
More analysis - at instaforex.com
Technical analysis of USD/JPY for August 14, 2014
In Asia, Japan will release the Core Machinery Orders m/m. The US will release some economic data such as Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction. 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: 103.13.
Resistance. 2: 102.83.
Resistance. 1: 102.73.
Support. 1: 102.48.
Support. 2: 102.27.
Support. 3: 102.07.
More analysis - at instaforex.com