Technical analysis of USD/CAD for September 12, 2014

General overview for 12/09/2104 15:00 CET


The target level anticipated in yesterday's analysis has been hit but the impulsive wave progression doesn't look like it is going to stop here as there is still one more wave to the upside missing, so the further gains on this pair are still possible. The projected target level in that case would be at the level of 1.1100 as the next round number level but any breakout below the key level might limit the weekly gains on this pair as the weekly range is currently done.


Support/Resistance:

1.1100 - Target Level

1.1064 - WR3

1.1052 - Technical Resistance

1.1027 - Intraday Support

1.1002 - WR2


Trading recommendations:

Day traders should move the SL just slightly below the level of 1.1027 on all their buy orders that are still open or use the trailing stop loss in order to protect the gains. Further upside movement is still possible, but any breakout below the mentioned level will decrease such a possibility this week. No reason to open short positions yet though. Be patient.


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Technical analysis of EUR/JPY for September 12, 2014

General overview for 12/09/2104 14:30 CET


The wave progression is developing as per yesterday's h4 time frame chart. The projected target for wave (v) of the impassive leg is at the level of 139.26 as per older charts. The price is loosing its momentum and there is a clear bearish divergence building an awesome oscillator indicator. So, this could be another clue that the overall upward correction might be close to completion. Please keep an eye on price behavior at the projected target level as any impassive reversal is the first confirmation for the swing top in place.


Support/Resistance:

139.26 - Projected Target

139.06 - WR2

138.42 - Intraday Support

138.26 - Technical Support

137.41 - WR1


Trading recommendations:

The current price levels are not the very best levels to open buy positions and bulls should consider exiting the long traders and watch the level of 139.26 for more clues of the further price direction.


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EUR/NZD analysis for September 12, 2014

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Overview:


Since our last analysis, EUR/NZD has been trading upwards. The price tested the level of 1.5832 in a volume above average according to the daily chart. I have placed Fibonacci expansion to find potential resistance levels. I got Fibonacci expansion 61.8% around the price of 1.5830 (currently on the test). Selling at this stage looks risky, so watch for potential bearish correction and then try to build bullish positions. If the price breaks the level of 1.5830 (Fibonacci expansion 61.8%), we may see potential testing the level of 1.5900-1.6000 (Fibonacci expansion 100%).


Daily Fibonacci pivot levels :


Resistance levels:


R1: 1.5822


R2: 1.5850


R3: 1.5897


Support levels:


S1: 1.5728


S2: 1.5700


S3: 1.5653


Trading recommendations: Be careful when selling the EUR/NZD pair since we may see further upward movement.


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Gold analysis for September 12, 2014

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Overview:


Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,231.98 in a volume above average. The price rejected from our Fibonacci retracement 38.2% at the level of 1,272.00, and that is the reason why we saw further bearish bias. Our major Fibonacci expansion 61.8%% is broken, so we may see potential testing the level of 1,218.00 (Fibonacci expansion 161.8%). According to the 4H timeframe, we can observe weak demand in a volume below average, which is a sign that buying looks risky.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,247.78


R2: 1,251.47


R3: 1,257.47


Support levels:


S1: 1,235.77


S2: 1,232.07


S3: 1,226.07


Trading recommendations: Buying looks risky since the price has broke our Fibonacci expansion 61.8%.


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Technical analysis of AUD/USD for September 12, 2014

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Overview :



  • Pair: AUD/USD

  • Time frame: Daily (D1)

  • Date and Time: 12/09/2014 12:15

  • The AUD/USD pair had a breakdown and extended further to as low as 0.9078 yesterday. It closed at 0.9103 today as well as the price was placed below 38.2% of Fibonacci retracement levels. Additionally, it should be noted that the price had formed strong resistance at the level of 0.9080. Furthermore, this strong level has still been trapped between 38.2% of Fibonacci retracement levels and 50% in the daily chart. Accordingly, the market is likely to start showing the signs of a bearish market again in order to indicate a bearish opportunity in the short term from the 0.9080 level of (38.2% of Fibonacci retracement levels) with a target towards the strong support around 0.8920 in coming hours. Meanwhile, bulls will be forced to pull back above the level of 0.8920. Thus, this level will act as a spot to buy in the long term next week. Therefore, it will a good idea to buy above 0.8923 with a target at the price of 0.9093 and it might resume to the 0.9207 price in order to form a double top.


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Technical analysis of GBP/USD for September 12, 2014

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Overview :



  • GBP/USD: It should be noticed that resistance (1.6353) and support (1.6190) are considered to be clear indicators of the maximum range of extreme volatility on September 12, 2014, though it is possible to pass them through. Also, it should be noted that the price of 1.6190 represents the weekly support 1 and the ratio of 50% Fibonacci retracement levels coincides with the level of 1.6353. Therefore, according to the previous events, the GBP/USD pair has still been trapped between 1.6190 and 1.6303. Hence, probably the market is going to start showing the signs of a bullish market above the price of 1.6190, because it represents major support. In other words, it will be a good idea to buy above the support (1.6190) with the first target of 1.6285 in order to try breaking the daily pivot point, then it will call for an uptrend to continue its bullish movement towards 1.6350 (the level of 1.6353 represents strong resistance today).


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#USDX Technical analysis for September 12, 2014

The Dollar index continues to trade sideways. The trend is neutral for the short term while the longer-term trend remains fully bullish targeting 84.75-85. The short-term chart below shows clearly the sideways action and we can say that the Dollar index is forming a bullish flag.


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Blue line= support


Red line = resistance


Short-term resistance is at 84.40. Support is at 84.10. The ichimoku cloud support is also very close by at 84. My bullish target if resistance is broken is a new high near 84.75. The Ichimoku cloud indicators point higher.


usdxd.jpg

Red line = resistance


The daily chart continues to remain fully bullish with important resistance at 84.75. All indicators remain bullish. Price is stalling and making a sideways move. I believe this is just a pause to the larger up trend and we will soon see a break out towards 84.75 and 85. Support at 83.75 is important to hold for the daily trend to remain bullish.


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Gold Technical analysis for September 12, 2014

Gold price continued a decline yesterday making a new lower low. It has also broken below the previous lows made in early June. This was another bearish signal that confirmed our bearish view we have for the last couple of weeks. Our 1st target has been achieved at $1,240. So, now we are waiting to see a move towards $1,200 at least.


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Red lines = resistance


Blue line = previous June low at $1,240


With the low at $1,240 broken, we get another confirmation that the trend remains bearish. According to the Ichimoku cloud indicators, we should expect more downside pressures towards $1,200-$1,180.


goldd.jpg

Light Blue lines = suppot


Red line = resistance


Dark blue = Long-term resistance


In the weekly chart above, we see Gold price has broken below the blue support lines and we expect to see a move towards $1,200-$1,180 at least. The trend remains bearish and we prefer to remain short. Short-term resistance is found at $1,250. If broken, we could see a bounce towards $1,280 or $1,300.


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Intradat trading recommendations on Gold of September 12,2014

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Gold hit the key support level of $1,240, made a low at 1234.75. As we recommended earlier, free fall is expected again below $1,240 towards $1,230 initially. Later, the yellow metal will keep on falling towards $1,224 and $1,210. On the other side, it has resistance at $1,240, above this $1,258 will act as major resistance. Until the metal closes above $1,276, sell on every up move. Today, the metal opened below the previous day close; it means that weakness is still keeping in the metal. For an intraday trading view, the metal has support at $1,231 below this at 1220; 1210 is the support level. The metal is facing strong resistance between 1240-1242 in h4 chart. Above this, the metal can move upwards to the $1,249 and $1,250 levels. We can see a sharp upmove only above $1,254.85 (rounded to $1,255), safe buy will be triggered only above $1,255 with the target at $1,260. Until a h4 candle closes above $1,255, selling on upmove will mint the money. Fresh sell will be possible below $1,231 towards the $1,220 and $1,210 levels.


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Intraday trading recommendations on USD/CAD of September 12,2014

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The pair came out of the 2-month trading range and closed above that. It represents further bullishness towards 1.1069 and 1.1 in the near term. The pair has support at the upper breakout level, resistance will act as support below this, 1.0930 and 1.09 will act as the weekly support level. For an intraday basis, the prices are closed above the hourly key moving averages. We recommend buying above 1.1058 for hourly targets at the 1.1070, 1.1077 and even 1.11 levels. On the downside, it has support at 1.1029 and 1.1. The selling will be possible below 1.1 towards 1.0950 levels. Panic will trigger below 1.0950 for a downside target at 1.0933 levels.


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Daily analysis of major pairs for September 12, 2014

EUR/USD: This pair is currently trapped in a consolidating phase, though the major bias remains bearish. It is possible that the price could break further downwards when momentum does return to the market and that can take the price towards the support line at 1.2850.


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USD/CHF: The USD/CHF is also in a kind of consolidation in the context of an uptrend. It is possible that the price could break further upwards when momentum does return to the market and that can take the price towards the resistance level at 0.9400. The support level at 0.9300 is an immediate barrier to a sudden pullback in the near term.


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GBP/USD: There are mixed signals in the GBP/USD chart – the EMAs 11 and 56 still show a bearish market, but the RSI period 14 has crossed the level 50 to the upside. The rally in the market is now posing a threat to the extant bearish outlook. Only time will tell whether the price would rally more toward the distribution territory at 1.6300 or break down further from here.


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USD/JPY: This is a bullish market and the currency trading instrument has the potential to keep on going northward. The price is now trading above the demand level at 107.00 and it has the potential to reach the supply level at 107.50.


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EUR/JPY: More weakness in the Yen and a clean bullish determination in the EUR have made the EUR/JPY cross gone upwards. As expected, there is now a Bullish Confirmation Pattern in the market and the price is supposed to continue going north, reaching another target at the supply zone of 139.00. Our target at 138.00 has already been exceeded.


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Intradat trading recommendations on GBP/JPY of September 12,2014

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The pair has been facing strong resistance at the 174.23 level. Yesterday, it breached that level, but was unable to close above that. Now, the pair is currently unable to breach the previous day’s high. We recommend buying above 174.25 with an immediate target at 174.50-174.55. The weekly support existed at 172.66.


For an intraday basis, the prices are closed above the hourly key moving averages. We recommend buying above 174.25 with an hourly target at 174.55. On the down side, it has support at 173.27 and 172.87. The selling will be possible below 172.87 towards the 172.32 and 171.89 levels.


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Intradat trading recommendations on EUR/JPY of September 12,2014

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As we expected, the pair closed above the 100Dsma at 138.51. Today, the pair is currently unable to breach the previous day high. We recommend fresh buying above the 138.51 levels for an immediate target at 138.80. The pair has support at 138.36 on a daily closing basis. The weekly support existed at 138.20. If a weekly close is above 138.80, the next upside leg will start next week.


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On an intraday basis, the prices are closed above the hourly key moving averages. We recommend buying above 138.51 with an hourly target at 138.80 as major resistance. On the down side, it has support at 138.10 and 137.97. Selling will be possible below 137.97 towards the 137.69 and 137.15 levels.


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Technical analysis of EUR/USD for September 12, 2014

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When the European market opens, some economic news will be released such as German WPI m/m, Italian Industrial Production m/m, Industrial Production m/m, Employment Change q/q, and Eurogroup Meetings minutes.The US will release the economic data too such as the Core Retail Sales m/m, Retail Sales m/m, Import Prices m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations, and Business Inventories m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2985.

Strong Resistance:1.2978.

Original Resistance: 1.2960.

Inner Sell Area: 1.2965.

Target Inner Area: 1.2922.

Inner Buy Area: 1.2892.

Original Support: 1.2879.

Strong Support: 1.2866.

Breakout SELL Level: 1.2859. 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.


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Technical analysis of USD/JPY for September 12, 2014

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In Asia, Japan will release the Revised Industrial Production m/m and BOJ Gov Kuroda Speech. The US will release some economic data such as Core Retail Sales m/m, Retail Sales m/m, Import Prices m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations, and Business Inventories 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: 107.75.

Resistance. 2: 107.53.

Resistance. 1: 107.33.

Support. 1: 107.07.

Support. 2: 106.86.

Support. 3: 106.65. 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.


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Technical analysis of EUR/JPY for September 12, 2014


Technical outlook and chart setups:


The EUR/JPY pair is moving higher as expected towards the 130.00/40 region. It is still possible that the pair extends rally into the 141.50 level as well, as seen here. Immediate support on the daily chart view is at 136.00/135.80 while resistance is seen at the 139.30/140.00 levels. Please, note that intraday dips from here should be considered as opportunities to go long. The pair is expected to reach 139.50 and then correct(retrace) lower, before rallying further towards 141.50. It is recommended to remain long and book some profits at the 139.50 levels. Risk could be brought at break even levels.


Trading recommendations:


Remain long, move risk to break even levels, target 139.50 and 141.50.


Good luck!


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Technical analysis of GBP/CHF for September 12, 2014


Technical outlook and chart setups:


The GBP/CHF pair has raised through the 1.5200 level after printing lows at the 1.4970 levels as seen on the daily chart view here. This rally was as expected and should be considered as an opportunity to build short positions. Please, note that immediate support is at the 1.4950/60 levels while resistance is at 1.5300, followed by 1.5430 levels for now. The pair could remain under influence of bears till prices are below 1.5300 levels. Also the dropping resistance line is passing just above the current price levels. It is recommended to remain short for now and consider intraday rallies as opportunities to initiate further short positions.


Trading recommendations:


Remain short, stop above 1.5300, target is 1.4800.


Good luck!


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Technical analysis of Silver for September 12, 2014


Technical outlook and chart setups:


Silver pushes through $18.60 levels taking stops out for now. The metal exposes the $18.20 lows at the moment, and a break there could see lower levels into $17.00 and below levels. It is recommended to remain flat for now and watch out for a reaction at the support line depicted here. Please, note that Silver remains in a larger consolidation on the weekly chart view and a bullish bounce from the support line now could revive prices all the way towards the $21.00 levels. On the flip side, a break below would be extremely encouraging for bears and push prices through the $17.00 levels. Immediate support is now seen at $18.20 levels, while resistance is seen at $19.90/$20.00 levels respectively.


Trading recommendations:


Remain flat for now.


Good luck!


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Technical analysis of Gold for September 12, 2014


Technical outlook and chart setups:


Gold stalled at the $1,240.00 level yesterday. A weekly chart view depicted here indicates that the yellow metal could be now poised to form yet another low around the $1,225.00 level or at the consolidating line of support line passing around the $1,184.00/85.00 levels as seen here. It is still recommended to look for lower levels to initiate long positions rather than going aggressively short for now. Please, also note that the entire cone structure shown here is into its 4th leg and a bullish bounce around lower boundary should be bought. Support is seen around the $1,225.00 level for now while resistance is seen at $1,272.00/73.00 levels.


Trading recommendations:


Remain flat for now, look for bottom formations at lower levels.


Good luck!


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Daily analysis of USDX for September 12, 2014

Daily chart: The USDX continues moving in the range below the resistance level of 84.29, although the USDX keeps on trying to make a breakout at that level to climb to the resistance level of 85.18. However, this instrument is overbought. The MACD indicator stays in the positive territory.


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H4 chart: The USDX is strengthening in the bullish trend above the psychological level of 84.00. So, the USDX is trying to make a breakout at the resistance level of 84.47 up to the level of 85.06. However, the USDX could begin to perform corrective movements. The MACD indicator remains in the negative territory.


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H1 chart: The USDX has made a rebound from the level of 84.05, so the USDX is consolidating itself back above the support level of 84.18. Now, the USDX is trying to make a breakout at the resistance level of 84.37. The MACD indicator stays in the positive territory.


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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 84.18, take profit is at 84.37, and stop loss is at 83.99.


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Daily analysis of GBP/USD for September 12, 2014

Daily chart: The GBP/USD pair continues forming a lower low pattern below the resistance level of 1.6235. Now, this pair is concentrating efforts to fill the gap in this bearish chart. If the GBP/USD pair carries out a pullback at the current levels, it would be expected to fall until the support level of 1.6146. The MACD indicator remains in the negative territory.


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H4 chart: This pair has formed a fractal at the resistance level of 1.6247. So, GBP/USD is likely to make a pullback from the current levels and fall to the support level of 1.6004. If the GBP/USD pair made a breakout at that level, the next target would be the support level of 1.5811 in the medium term. The MACD indicator stays in the positive territrory.


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H1 chart: The GBP/USD pair managed to consolidate above the support level of 1.6216. So, this pair is trying to consolidate above the 200-day moving average, which is at the resistance level of 1.6291. The MACD indicator stays in the negative territory.


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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 1.6216, take profit is at 1.6170, and stop loss is at 1.6263.


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Daily analysis of Silver for September 11, 2014

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Overview


According to our previous expectations, the price's close below the Đºesistance level of 19.00 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Resistance level to trade below and open the way towards 18.75 as first target, then the metal must test the Support level of 18.50 to get more bearish move till reaching the level of 18.00 as second target. On the other hand, the metal's rebound from the Support level 18.50 cancels bearish scenario.


Resistance and support levels: R3 (19.20), R2 (19.00), R1 (18.75), S1 (18.50), S2 (18.00)


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