Weekly technical levels of EUR/USD for September 8-12, 2014

Weekly technical levels of EUR/USD pair.


eurusd-pp.png


Trading recommendations :



  • The EUR/USD pair is in the short term.

  • The price of the EUR/USD pair is going to keep the bearish sentiment from the level of 1.3009. In addition, it should be noted that the level of 1.3009 represents the weekly pivot point. Accordingly, it will be a good sign to sell below it at 1.3009 with the first target of 1.2919 to test a double bottom at this area. Then, if the price breaks the double bottom, it will call for a downtrend market in order to continue its bearish movement towards 1.2860 (the weekly support 1). Equally important, the resistance would set at the 1.3100 level. Besides, it should be noted that the range today will be about 60 pips, but we expect a large range this week that will be probably up to 200 pips. However, the stop loss should be placed above the the weekly pivot point at the price of 1.3049, so the stop loss should be set in 40 pips since the risk of 40 pips could make profit of 60 pips.



eurusdh1.png


The material has been provided by InstaForex Company - www.instaforex.com

Gold analysis for September 08, 2014

GOLDDaily08.png


GOLDH408.png


Overview:


Since our last analysis, gold has been trading upwards. The price tested the level of 1,273.42. The price rejected from our Fibonacci expansion 100% at the level of 1,258.00, and that is reason why we saw bullish movement. If the price breaks the level of 1,251.00 in a high volume, we may see more downward movement and potential testing the level of 1,218.00 (Fibonacci expansion 161.8%). I have placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 38.2% at the price of 1,272.00 (currently on the test) and Fibonacci retracement 61.8% at the price of 1,281.00. According to the 4H time frame, we can observe weak demand in the background, which is a sign that buying look risky.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,270.03


R2: 1,270.83


R3: 1,272.13


Support levels:


S1: 1,267.43


S2: 1,266.66


S3: 1,265.33


Trading recommendations: Buying at this stage looks risky since our Fibonacci retracement 38.2% is on the test.


The material has been provided by InstaForex Company - www.instaforex.com

#USDX Technical analysis for September 8, 2014

The Dollar index remains in a bullish trend and with no sign of a trend reversal. The next upside target will be near 84.50 and 84.90. The Dollar remains strong. The index has most probably finished the sideways consolidation after the big upward spike and a new move higher should be expected.


usdx.jpg

Support is found at 83.74. Breaking below that level could push the index back towards 83.35. Cloud support is found at 83 and 82.75. Resistance is at 84. In terms of Ichimoku cloud, the 4 hour chart remains fully bullish targeting higher.


usdxd.jpg

The same holds for the daily chart in the Dollar index. Price is trending higher and bulls remain in full control. The next targets are 84.50 and 84.90. More upside is expected as long as price is above 82.60. The red trend line is critical support for the intermediate-term trend.


The material has been provided by InstaForex Company - www.instaforex.com

Gold Technical analysis for September 8, 2014

Gold price remains below resistance levels but still holds the $1,256 lows. The trend remains down with lower highs and lower lows. The short-term trend is neutral and sideways as there is a lot of uncertainty in this area.


goldh4.jpg

Gold price remains below the Ichimoku cloud and below the trend line resistance at $1,275 and $1,280. If resistance is broken, we could see a push towards $1,300. Support is found at $1,256 low. Breaking below that level could push Gold price towards our 1st short-term target of $1,240. In cloud terms, the 4 hour chart remains bearish.


goldd.jpg

The daily chart of Gold price is also shown above. The Ichimoku cloud continues to give us bearish indications for the future price movement we should expect. Additionally, Gold price remains below the broken red trend line at $1,270. A move towards $1,240-$1,200 is expected as long as price is below $1,295.


The material has been provided by InstaForex Company - www.instaforex.com

Forecast of EUR/USD for September 08, 2014

EURUSDMonthly.png


The euro pushed to a 14-month low and is trading at 1.2940. On the down side, the pair has support between the 1.2804-1.277-1.27750 levels. For the rest of the month, the given levels are valid support. A break below, these levels lead to another fall up to 1.2432 and 1.2211 (200Dsma). In June 2010 and July 2012, 200Dsma in a monthly chart twice gave enough support. For the short term, with a break below 1.2750, we can expect 1.2211 levels. On the higher side, a close above 1.34 only the bullish view starts blinking in the charts on positional basis, until selling on every upmove.


Support is at 1.28, 1.277, and 1.25.


Resistance is at 1.30, 1.3220, and 1.34.


The material has been provided by InstaForex Company - www.instaforex.com

Intraday trading recommendations on USD/CHF for September 08, 2014

USDCHFDaily.png


The pair held the 50Msma and started moving higher. The pair has a short-term support at 0.9175 (50Msma) and the 0.9135 level. On a closing basis, until the price stands above these levels, the pair favors buying on dips towards 0.94, 0.9456, and 0.95 in the short term. The monthly support existed at 0.8980 and weekly support existed at the 0.9158 and 0.9126 levels. When a break and close are below 0.9135, the pair will look for the nearest support at 0.90 and 0.8975. The pair has strong resistance at 0.94 (200Dema). When a weekly close is above 0.94, bulls may print 0.9456,0.9534, and 0.9624 levels.


Support is at 0.9158, 0.9126, and 0.90.


Resistance is at 0.94, 0.9456, and 0.9534.


Intraday cmp 0.9320.


USDCHFH4.png

The prices are closed above the key hourly moving averages, representing buy on dips. But the main concern is the h1 and h4 momentum oscillators are indicating an extreme overbought area. It represents limited upside move and sellers will mint the money. Safe traders can sell below 0.9286 with targets at 0.9250 and 0.9230. The panic button will trigger below 0.9230 towards 0.9175 and even lower.


Sellers will mint the money, so sell and wait patiently.


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/JPY for September 08, 2014

!UJ.jpg In Asia, Japan will release the Current Account, Final GDP q/q, Bank Lending y/y, Final GDP Price Index y/y, and Economy Watchers Sentiment. Moreover, the US will release some economic data such as Consumer Credit m/m. So, there is a big probability the USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 105.59.

Resistance. 2: 105.38.

Resistance. 1: 105.18.

Support. 1: 104.93.

Support. 2: 104.72.

Support. 3: 104.51.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/USD for September 08, 2014

!EU.jpg When the European market opens, some economic news will be released such as German Trade Balance and Sentix Investor Confidence. The US will release the economic data too such as the Consumer Credit m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.3013.

Strong Resistance:1.3006.

Original Resistance: 1.2993.

Inner Sell Area: 1.2980.

Target Inner Area: 1.2950.

Inner Buy Area: 1.2920.

Original Support: 1.2907.

Strong Support: 1.2894.

Breakout SELL Level: 1.2887. Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.


The material has been provided by InstaForex Company - www.instaforex.com

Weekly forecast and an intraday analysis of USD/CAD for September 08-12, 2014

1410143664_USDCADWeekly.png


The pair gets rejected at a level higher 1.1, these levels represent a broadening top. The pair successfully held the support at 50Wsma and managed to close above 20Wsma. For the short term basis, the pair has strong support at 1.08482 and 1.0815. A weekly close is below 1.0815 only, the pair favors bears. On the higher side, it has strong resistance around 1.1 above this at the 1.1026 1.1050, and 1.1070 levels. On a weekly basis, the price are closed and is trading below the 20Dsma, representing a limited up move this week. When a daily close is above 1.0910, bulls gain more strength to hit the 10942, 1.0956 and 1.0965 levels. On the down side, the pair has support at the 1.0856, 1.0811 and 1.08 levels. When a daily close is below 1.0832, bears will grab the chance to make a lower move to the 1.08 and 1.0770 levels.


Support is at 1.0856, 1.0811, and 1.08.


Resistance is at 1.0910, 1.0942, and 1.0965.


Intraday cmp 1.0888.


USDCADH4.png

The prices are facing strong resistance at 21hrsma or 1.0892. Until it is taken out, bears will have an upper hand. On the down side, it has support at 1.0880 and 1.0873; free fall will trigger below this towards the 1.0856 and 1.0820 levels. On an intraday basis, sellers will mint the money.


The material has been provided by InstaForex Company - www.instaforex.com

Weekly forecast and an intraday trading recommendations on Gold for September 08-12, 2014

GOLDWeekly.png


The soft US data pushed the metal from a 3-month low. The metal pushed out from the triangle and closed below the bottom of the triangle on the previous week. On a weekly basis, the metal has strong resistance at $1,289 (50Wsma) and $1,293.35 (20Wsma). Until the metal closes above $1,289, selling on rallies mints the money. The metal has strong resistance at $1,285.60, $1,289 and $1,293.35 for the week September 08-12, 2014. Bulls must take the pair into the triangle again, if no bears play will hit the metal towards $1,250 and $1,240 in the near term. This view is valid for the rest of the month.


If a daily close is above $1,285.60, the daily trend turns to a buy side. - pending


If a weekly close is above $1,289, the weekly trend turns to positive. - pending


Support is at $1,258, $1,250, and $1,240.


Resistance is at $1,285.60, $1,289, and $1,293.35.


Intraday cmp $1,269.90


GOLDH4.png

The metal is trading at $1,269.90 in an early Pacific session. The metal has strong resistance in the descending hourly trend line above the $1,273 level. On the down side, it has support at $1,266 and $1,264. We recommend selling only below $1,264 for hourly targets at $1,262, $1,260 and $1,258. A strong buy will emerge above $1,273.50 for an upside target at the $1,276.90 and $1,280-$1,281 levels.


Buy above $1,273.50.


Sell below $1,264. Hourly panic below $1,262 towards $1,258.


The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of major pairs for September 8, 2014

EUR/USD: The EUR/USD pair trended southward in a significant mode last week. This trend has a high probability of continuing this week, but the possibility of rally attempts cannot be ruled out. The attempted rallies may cause the price to reach the resistance lines at 1.3050 and 1.3100 successively.


1.png

USD/CHF: The strength in USD/CHF has continued, although there was a shallow bearish retracement in the chart on Friday, September 5, 2014. The price closed at 0.9310, and it is expected that it may go further upwards this week. It may reach the supply level at 0.9350.


2.png

GBP/USD: The Cable also dived significantly last week – in a clean positive correlation with its EUR/USD counterpart. The dive might continue this week, taking the price towards the accumulation territory at 1.6250. Meanwhile, the distribution territories at 1.6400 and 1.6450 ought to act as barriers to the bulls’ machinations along the way.


3.png

USD/JPY: The USD/JPY pair has always been making bullish effort in recent times, with a measure of success. Since the model used in this analysis gave a ‘buy’ signal on August 11, 2014, the price has gone upwards by around 300 pips. The trend may not yet be over, for the price might test the supply level at 106.00 this week.


4.png

EUR/JPY: The massive sell-off that happened on this cross last week has resulted in a Bearish Confirmation Pattern in the chart. The weakness may likely continue, taking the price towards the demand levels at 135.50 and 135.00. However, it would take far more weakness in the EUR to accomplish it. Should the EUR recovers from its present weakness, the trend might change.


5.pngThe material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/JPY for September 08, 2014














Technical outlook and chart setups:


1. The EUR/JPY pair had broken out of the sloping resistance line earlier and printed highs at 138.30 levels. The pair has fallen back at resistance turned support line and is seen to be testing around 136.00/10 levels again. A bullish reversal here could still possibly extend gains towards 139.30 and 139.90 levels, at least. It is therefore recommended to remain long and also look to initiate fresh long positions at current levels.


2. Support is seen at 136.00/135.80 (interim) and lower, while resistance is seen at 139.30, followed by 140.00 and higher respectively.


3. The structure indicates that EUR/JPY pair could still potentially reverse from the current level (136.10) towards the level of 140.00 in the coming sessions.


Trading recommendations:


Remain long, stop below, 135.80, target is 140.00.


Good luck!


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of GBP/CHF for September 08, 2014
















Technical outlook and chart setups:


1. The GBP/CHF pair is seen to be bouncing lower from the line of resistance here. As expected, the pair has reversed from 1.5250/75 levels last week and has also re-tested the same. Currently trading at 1.5100/10 levels, the pair is expected to continue drifting lower to the 1.4900 and subsequently to 1.4800 levels. On the flip side, only a push above 1.5350 levels would be of concern to bears.


2. Support is seen at 1.4960, followed by 1.4760 levels and lower while resistance is seen at 1.5350/60, followed by 1.5430/50 respectively.


3. The structure indicates that GBP/CHF could remain in control of bears till 1.49/1.48 levels at least.


Trading recommendations:


Remain short for now, stop at 1.5350, target is 1.4800 levels.


Good luck!


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of Silver for September 08, 2014
















Technical outlook and chart setups:


1. Silver is seen to have formed an engulfing bullish pattern around sub $19.00 levels, thus indicating a bullish reversal here. The metal is bouncing off from the fibonacci 0.786 support of the entire rally from $18.60 to the level of $21.60 as seen here. It is recommended to remain long and also look to initiate fresh positions at current levels; a push through the $19.90/$20.00 levels would confirm that bulls are in control.


2. Support is seen at $19.00 levels (interim), followed by $18.60 and lower, while resistance is seen at $19.90/$20.00 levels (interim), $21.20/30, $21.70 and higher respectively.


3. The structure indicates that Silver could be reversing from current levels and bulls are about to take back control. A push above $20.00, confirms.


Trading recommendations:


Remain long and look to initiate fresh positions, stop below $19.00 with target remaining open.


Good luck!


The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of Gold for September 08, 2014
















Technical outlook and chart setups:


1. Gold is carving out a right shoulder of a potential inverted head and shoulder reversal pattern here, as seen on the daily chart view. The metal has formed an engulfing bullish candlestick signal at the level of $1,268.00 on Friday, thus indicating a possible bullish reversal from current levels. It is recommended to initiate fresh long positions at current levels for a long term bullish reversal possibility.


2. Support is at $1,258.00 (interim), followed by $1,240.00 and lower, while resistance is seen at $1,296.00 (interim), followed by $1,325.00, $1,340.00 and higher up respectively.


3. The structure indicates that Gold could turn bullish from current ($1,268.00) levels, forming and completing an inverted head and shoulder reversal.


Trading recommendations:


One could initiate fresh long positions at current levels, stop at $1,240.00, target is open.


Good luck!


The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of USDX for September 08, 2014

Daily chart: the USDX remains above the support level of 83.74, where this instrument is trying to form a higher high pattern up to the resistance level of 84.29. However, the USDX could begin to move in the range because it is overbought. The MACD indicator stays in positive territory.


USDXDaily.png

H4 chart: The USDX is trying to form a bullish pattern above the support level of 83.65, where the USDX could make a rebound and is likely to try a breakout at the bullish trend line. If it succeeds, it would be expected that to climb up to the resistance level of 84.47. This MACD indicator entering overbought zone.


USDXH4.png

H1 chart: The USDX is moving in the range above the support level of 83.52, and now, the USDX is trying to again make a breakout at the resistance level of 84.03. If it succeeds, the next goal would be the level of 84.37. The MACD indicator is entering neutral territory.


USDXH1.png


Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 82.85, take profit is at 82.97, and stop loss is at 82.72.


The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of GBP/USD for September 08, 2014

Daily chart: GBP/USD opened the week with a strong bearish gap below the resistance level of 1.6235, by what this pair could rise to the level of 1.6326 to fill that gap. However GBP/USD could lose the bullish momentum at 1.6235 and is likely to fall to the support level of 1.6146. The MACD indicator remains in negative territory.


GBPUSDDaily.png


H4 chart: The GBP/USD is below the resistance level 1.6247, and it is likely that this pair tries to make a breakout at that level to climb to the resistance level of 1.6350 to fill the bearish and try toform a bearish pattern more clearly. GBP/USD is kept below the 200-day moving average and the MACD indicator stays in negative territory.


GBPUSDH4.png


H1 chart: As the result of the bearish gap, GBP/USD has formed a fractal at the support level of 1.6170 and now, the GBP/USD is trying to make a breakout at the resistance level of 1.6252. If it succeeds, it would be expected that it goes up the resistance level 1.6338, so the GBP/USD would have a recovery in its value due to the recent surveys by newspapers in which the Scots may would be voting in favour of the independence of Scotland from the United Kingdom.


GBPUSDH1.png


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 1.6578, take profit is at 1.6544, and stop loss is at 1.6611.


The material has been provided by InstaForex Company - www.instaforex.com