Technical analysis of EUR/JPY for September 15, 2014


Technical outlook and chart setups:


The EUR/JPY pair has almost hit/reached the first expected fibonacci target and made a high at 139.20 levels on Friday. The pair is pulling back at the moment and is again expected to resume rally towards 139.80/90 levels. It is therefore recommended to remain long (one can take partial profits) for now. Please note that dips towards 138.00 levels and lower, should be considered as opportunities to go long again. Support on the daily chart view remains at 135.80/136.00 levels while resistance is seen at 139.30, followed by 140.00, 142.50 and higher up respectively. Look for a short-term dip for now and then expect rally to resume.


Trading recommendations:


Remain long, (book partial profits), stop at break even levels, target 140.00.


Good luck!


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Technical analysis of GBP/CHF for September 15, 2014


Technical outlook and chart setups:


The GBP/CHF is seen to be stalling around 1.5230 levels after bouncing higher from 1.4970 levels earlier. Please note that the pair bounced off the 0.382 fibonacci support (of the rally between 1.4450 and 1.5430) at 1.4970 levels. It is expected to continue drifting lower towards the 0.618 fibonacci support around 1.4800/30 levels in the coming sessions. However, prices should remain below 1.5300 levels for bears to remain in control. It is recommended to remain short for now. On the flip side, if the pair breaks above sloping resistance line and 1.5300 subsequently, bulls would regain control back.


Trading recommendations:


Remain short for now, stop above 1.5300, target 1.4850.


Good luck!




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Technical analysis of Gold for September 15, 2014


Technical outlook and chart setups:


Gold has been hammered down to $1,225.00/26.00 levels as seen here. Please note that the metal is looking to stall around the fibonacci 0.786 support of the entire rally between $1,182.00 ti $1,388.00 levels as depicted here. A bullish bounce could be expected here, but we shall wait for a daily confirmation signal. On the flip side, a break below $1,225.00 would open doors to re-test December 2013 lows at $1,180.00 levels again. The overall weekly structure still indicates larger consolidation with support around the $1,180.00 region. A break below $1,180.00 would be extremely bearish, and the metal could test $1,030.00/50.00 levels before reversing.


Trading recommendations:


Remain flat for now.


Good luck!




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EUR/NZD analysis for September 15, 2014

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Overview:


Since our last analysis, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5944 in a volume above average . I have placed Fibonacci expansion to find potential resistance levels. I got Fibonacci expansion 61.8% around the price of 1.5830 (already broken) and Fibonacci expansion 100% at the price of 1.6010. 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 1.5900 (swing high like resistance), we may see potential testing the level of 1.6000 (Fibonacci expansion 100%). According to the 4H time frame, we can observe support at the price of 1.5825 (swing high like support). I have also placed Fibonacci retracement to find potential support levels if the price start with downward movement and I got Fibonacci retracement 38.2% at the price of 1.5790 and Fibonacci retracement 61.8% at the price of 1.5695.


Daily Fibonacci pivot levels :


Resistance levels:


R1: 1.5907


R2: 1.5939


R3: 1.5991


Support levels:


S1: 1.5803


S2: 1.5771


S3: 1.5719


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 15, 2014

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GOLDH415.png


Overview:


Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,225.42 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%, almost tested). According to the 4H timeframe, we can observe very weak demand in a volume below average, which is a sign that buying still looks risky.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,229.88


R2: 1,230.76


R3: 1,232.17


Support levels:


S1: 1,227.06


S2: 1,226.18


S3: 1,224.77


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


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Elliott wave analysis of EUR/NZD for September 15, 2014

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Today's support and resistance levels:


R3: 1.5949


R2: 1.5929


R1: 1.5906


Current spot: 1.5880


S1: 1.5862


S2: 1.5841


S3: 1.5818


Technical summary;


The strong rally of the 1.5526 low has broken clearly above the resistance-line from early February and more importantly above the former top at 1.5898 indicating much more upside price-action will be seen. However, short term we ended wave i of 3 at 1.5949 and should be looking for a correction towards the bottom of wave four of i at 1.5766 before wave iii of 3 is ready to take over for a strong rally higher to 1.6451. On the way higher towards the possible wave iii target, we will meet strong resistance at 1.6203, but it should not be able to protect the upside for long.


Trading recommendation:


We are long in EUR from 1.5550 and will move our stop higher to 1.5750. If you are not long in EUR yet, then buy EUR near 1.5766 with the same stop at 1.5750.


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Elliott wave analysis of EUR/JPY for September 15, 2014

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Today's support and resistance levels:


R3: 139.48


R2: 139.28


R1: 139.18


Current spot: 138.94


S1: 138.75


S2: 138.55


S3: 138.44


Technical summary:


Red wave i from 135.80 has likely ended at 139.18. So, we should now look for a correction in red wave ii towards the area for wave four of red wave i. the area of wave four of red wave i will be found between the levels 137.66 - 138.17 and will likely halt the correction in red wave ii. That said we will have to remember, that second waves are allowed to correct 100% of the first wave, but never can break the origin of the first wave. Once red wave ii is over we will be looking for red wave iii higher towards 143.19. We are looking for a bullish rally higher, but a break above resistance at 143.79 is needed to confirm a new long-term impulsive rally higher.


Trading recommendation:


We bought EUR at 135.95 and will move our stop higher to 137.50. If you are not long in EUR already, then buy EUR near 138.17 with the same stop at 137.50.


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#USDX Technical analysis for September 15, 2014

The Dollar index is consolidating sideways in a triangle formation. It is now testing the upper triangle boundaries and we can see a strong break out that will give us a short-term buy signal with 84.75 as target. Trend is sideways for the short-term but bullish for the intermediate-term.


usdx.jpg

Red line= resistance


Blue line= support


According to Ichimoku cloud terms, trend remains bullish as price is above the Ichimoku cloud support. Soon we should expect an upward break out towards 84.75 at least. The signal will be givenwhen price breaks 84.37.



Red line = resistance


Blue line = support


The daily chart continues to favor bulls. Trend is clearly bullish and the ichimoku cloud indicators point higher. The recent sideways action is most probably a pause to the rise and we should soon expect another upward break out towards 85. We remain bullish as long as price is above 84.


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Gold Technical analysis for September 15, 2014

Gold price is bouncing after it made a new lower low. The trend remains bearish and below short-term resistance levels. Our next target is around $1,200-$1,180. In Ichimoku cloud terms the trend remains bearish and we should expect to see lower levels now that the previous important low at $1,240 is broken. A back test of $1,240 cannot be ruled out.


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Red line = resistance


Blue line= support


Short-term resistance is found at $1,238 and at $1,247. Support is found at $1,225. The ichimoku cloud is above current price and all indicators point lower and that trend remains bearish. There is no buy or reversal signal in the 4 hour chart so we remain bearish targeting a test of next important support at $1,180.


goldd.jpg

Red line = resistance


Blue line = support


In the daily chart above, we see the clear break of the supportive trend line at $1,270. Our latest sell signal was given at that level. There is now increased probability that we have seen the end of wave 4 and we have started wave 5 downwards towards $1,000.




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Techncial analysis of EUR/JPY for September 15, 2014

General overview for 15/09/2014 09:40 CET


The top for black wave B might be in place at the level of 139.16 as anticipated last week. Any impulsive bearish wave progression would be the first clue that the top is in and lower prices should be expected. The second clue might come from the key level breakout where supply will overcome the demand and confirm the lower prices are coming. The third clue will come from any corrective cycle bigger than 50 pips. Moreover, please notice the bearish divergence that has been building on both RSI and momentum oscillator (black arrows). Only a new high would invalidate the bearish bias.


Support/Resistance:

139.16 - 139.25 -


Technical Resistance Zone

138.42 - Intraday Support

138.30 - Weekly Pivot

138.25 - Technical Support

137.48 - WS1


Trading recommendations:

All swing traders that are still keeping buy orders from last week should get ready to close the positions and wait for a further wave progression as the trend looks mature and reversal/correction is possible. Breakout below the level of 138.25 is the first strong confirmation that the top for wave B black is in place at the level of 139.16.


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Technical analysis of USD/CAD for September 15, 2014

General overview for 15/09/2014 09:15 CET


The wave development is behaving as anticipated with all target levels from last week hit already. The momentum indicator is showing a clear bearish divergence forming/ So, it is another clue that supports the view, that the top for red wave 5 is near or it is in place already. Currently, the market might be in two possible stages: either the top for wave red 5 is in place (main count), or the corrective cycle in red wave 4 is getting a little more complex in price and time (alternative count). The key level here is the lower boundary of the golden trend channel at the level of 1.0978, because any breakout lower is in favor of a main count.


Support/Resistance:

1.1097 - Swing Top

1.1037 - Weekly Pivot

1.1027 - Intraday Support

1.0978 - WS1|Key Level|


Trading recommendations:

All swing traders that are still keeping buy orders from last week should get ready to close the positions and wait for a further wave progression as the trend looks mature and reversal/correction is possible.


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Intraday trading recommendations for EUR/JPY for September 15, 2014

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The pair successfully closed in the broken triangle, made a higher close. The pair opened today with a green tick, as of now, today it has been unable to breach the previous day's high. On the upside, the pair has a strong resistance zone between 139.18-139.25 levels. We recommend fresh buying only above these levels. In the near term, the upper end on the triangle is the major resistance. A breach above that, we can see a sharp run up towards 139.80-140 odd level. On the down side, it has support at 138.34 and 137.30.


For an intraday basis, the prices are closed above hourly key moving averages. The pair has support at 138.65, below this, 138.40, 138 and 137.70 levels.


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Intraday trading recommendations for Gold for September 15, 2014

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The yellow metal drifted to a 5-month low, trading near support zone. The metal lost its shine by rising expectations that the US Federal Reserve will raise the interest rates rather earlier than later. The metal has a minor support zone between $1,225 (80.0 fib level) and $1,217 levels. Currently in Pacific session, the metal is trading at $1,225.50 level near the support zone. We recommend fresh selling only below $1,225 or $1,217 (safe trades). Risky traders can buy using sl $1,217 at cmp $1,225.50 for an upside target at $1,231, $1,234, $1,237 and $1,240 levels. The metal has intraday resistance at $1,235, $1,239, $1,242 and $1,248. Strong up move we can see only above $1,248 on a weekly basis.


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Daily analysis of major pairs for September 15, 2014

EUR/USD: This pair is still bearish in the long term, but bullish in the near term. The bulls have shown their determination to keep on making attempts for the price to go further upwards in spite of serious battering from the bears. A movement above the resistance line at 1.3050 would mean the end of the bullish outlook and the beginning of the bearish outlook. On the other hand, the price may become weak and go towards the support line at 1.2850. That is in the case when the bearish move is once again renewed.


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USD/CHF: This currency trading instrument closed at 0.9332 (Friday, September 12, 2014); on a bullish note. There is an immediate support level at 0.9300, while the price is expected to go further north this week, testing the resistance level at 0.9400.


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GBP/USD: Just like its EUR/USD counterpart, the cable is also showing some determination to go further upwards, although the long-term bias is bearish. Any movement above the distribution territory at 1.6300 would mean the beginning of a new bullish journey, but the price may fall back towards the accumulation territory at 1.6150.


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USD/JPY: This pair is strong and it is now above the demand level at 107.00. The first target for this week would be reached at the supply level of 107.50.


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EUR/JPY: The EUR/JPY pair continues to be strong as a result of the weakness in the yen and further bullish determination in the euro. The Bullish Confirmation Pattern in the market is very conspicuous and one supply zone after the other has been breached. Right now, the price is moving above the demand zone at 139.00, going towards the supply zone at 140.00. That is our target for this week.


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Technical analysis of USD/JPY for September 15, 2014

In Asia, Japan will not release any economic data, and the US will release some economic data such as Empire State Manufacturing Index, Capacity Utilization Rate, Industrial Production m/m. So there is a big probability the USD/JPY will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 107.80.

Resistance. 2: 107.58.

Resistance. 1: 107.38.

Support. 1: 107.12.

Support. 2: 106.91.

Support. 3: 106.70. 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/USD for September 15, 2014

When the European market opens, some economic news will be released such as Trade Balance.The US will release its Empire State Manufacturing Index, Capacity Utilization Rate, and Industrial Production m/m. So amid the reports, EUR/USD will move low volatility during this day.



TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.3021.

Strong Resistance:1.3014.

Original Resistance: 1.3001.

Inner Sell Area: 1.2988.

Target Inner Area: 1.2958.

Inner Buy Area: 1.2928.

Original Support: 1.2915.

Strong Support: 1.2902.

Breakout SELL Level: 1.2895.



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 intraday trading recommendations for GBP/USD for September 15, 2014

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The cable hit the 5-year breakout trend line in the previous week, but managed to close above that. The Pound has a support zone between 1.6050-1.6038 levels. The bulls managed to close above 200WEma 1.6209 in the previous week. The weekly support is at 1.6050 and the monthly support is at 1.60 (200WSMA). The short-term trend decider level is at 1.60, below this we can expect another steep fall immediately of 100-150 pips and later 300 pips, to 1.57 levels.


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The cable has a resistance zone between 1.6280-1.6283 levels above it, it can fly up to 1.6431 (20Dsma). Until the pair closes above 1.6431 on a daily basis, selling on every rise will mint the money. This Thursday, Scottish referendum will put demand pressure for the pound towards a downside target. For this week, we recommend to sell below 1.62 or sellers can wait for a pullback and sell at higher levels.


Support 1.6232, 1.6198-1.6190, 1.6179


Sell below 1.6232


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Short-term trend levels and an intraday recommendation of EUR/USD for September 15, 2014

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The key economic events will decide the pair's fortune this week. The Wednesday FOMC meeting will decide the pair's fortune. The Euro is trading at a 14-month low against the US dollar. The expectations of the US key interest rate hike supported the US dollar to fly higher. Last week, the pair managed to move up a bit to 1.2979 levels. Today the pair opened with a bearish note, opened higher at 1.2973 levels, until it breaches the high, sellers will mint the money. On the down side, the pair has a strong support zone between 1.2796-1.2746 levels.


Key support levels are 1.2764 (200MEma) and 1.2210 (200MSma)


The fresh sell-off will take place below 1.2750 towards 1.2660, 1.25 and 1.22 in the short term. The weekly key resistance is at 1.3020 and support is at 1.2840, below this, 1.2820, 1.2796 and 1.2750 levels.


Intraday cmp 1.2955


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The pair has been facing strong resistance between 1.2978-1.2988, above it, descending trend line will act as a major resistance level (1.3020). The support levels are at 1.2943 (12EMA) and 1.29 (35DEMA). The selling pressure will pin below 1.29 and panic will create below 1.2859 towards 1.2840, 1.2820 and 1.2796, maybe even 1.2750 levels.


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Daily analysis of USDX for September 15, 2014

Daily chart: The USDX continues to form a higher high pattern below the resistance level of 84.29, it is significant movements that alter the current bullish trend in this instrument. If the USDX manages to make a breakout at the level of 84.29, it would be expected to rise to the level of 85.18. The MACD indicator is entering overbought area.


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H4 chart: The USDX continues to find resistance at the level of 84.47 and now, the USDX is trying to stay below the bullish trend line, so it is very likely that this instrument will fall to the level of 83.70 in the coming days. The MACD indicator is entering negative territory.


USDXH4.png

H1 chart: The USDX has made a pullback at the 84.37 level and now, the USDX is trying to make a breakout at the level of 84.18 with the formation of a bearish pattern. If it succeeds, it would be expected to fall to the support level of 84.03. However, it is likely the USDX will make a rebound at current levels. The MACD indicator remains in negative 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 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 15, 2014

Daily chart: The GBP/USD was able to consolidate above the support level of 1.6235, so this pair will now try to climb to the 1.6326 level to fill the bearish gap completely. It is very likely that the bullish retracement extends to the resistance level of 1.6540, where the 200-day moving average is. The MACD indicator remains in negative territory.


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H4 chart: The GBP/USD is trying to form a bullish pattern above the 1.6247 level and now, this pair is moving in a range. If the GBP/USD manages to make a breakout at the level of 1.6300, it would be expected to rise to the level of 1.6435. On the other hand, if this pair makes a pullback at current levels, it would be expected to fall to the level of 1.6004. The MACD indicator is entering neutral territory.


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H1 chart: This pair has succeeded in approaching the 200-day moving average, where the GBPUSD is trying to form a higher high pattern. If the GBP/USD manages to make a breakout at the resistance level of 1.6291, the next goal would be the level of 1.6338. For now, caution is advised when placing sell orders. The MACD indicator stays in positive 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 1.6252, take profit is at 1.6216, and stop loss is at 1.6288.


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