Intraday technical levels and trading recommendations on EUR/USD for September 26, 2014

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The price zone of 1.3800-1.3880 (dotted on the chart) managed to pause the previous bullish momentum, thus initiating the current downtrend within the depicted bearish channel.


Several congestion zones were established around the price levels of 1.3515 and 1.3335 before further bearish decline could take place.


Last week on Wednesday, the EUR/USD pair showed bullish recovery around price level of 1.2860. Successive bullish daily candlesticks were expressed around these price levels.


However, the bearish engulfing daily candlestick for Friday indicated severe weakness of the bulls. This enhanced the bearish trend towards 1.2750 and 1.2680 as initial target levels.


Today's daily candlestick should be monitored for bullish rejection. The EUR/USD pair is currently testing the lower limit of the ongoing bearish channel. That's why, any signs of bullish reversal should indicate upcoming corrective movement towards 1.3060.


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The current short-term bearish trend remains intact as long as bears keep defending the price zone around 1.2995 (the recent weekly high). Moreover, another descending high was established on Wednesday around 1.2920.


Bearish slide below 1.2820 invalidated the possibility of a bullish reversal. Thus, bearish decline towards 1.2750 and 1.2680 took place shortly after achieving the projection targets of the bearish flag pattern.


Careful watching of price action around the current price levels is essential to determine the next destination of the EUR/USD pair.


In case the bulls initiate a corrective movement around the lower limit of the channel being tested today, the first target levels to be visited should be located around 1.2940 and 1.3060.


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EUR/NZD analysis for September 26, 2014

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Overview:


Oour last analysis, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.6148 in an high volume. Our Fibonacci expansion 100% at the price of 1.6000 is broken so we may see more upward movements. Since the price has broken the level of 1.6010 in a higher volume, we may see potential testing the level of 1.6200 (swing high like resistance). Anyway, be careful when buying at this stage since the price is near the resistance level. My advice is to wait for retracement and then to build buying positions.


Daily Fibonacci pivot levels :


Resistance levels:


R1: 1.6112


R2: 1.6179


R3: 1.6287


Support levels:


S1: 1.5895


S2: 1.5828


S3: 1.5719


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


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Daily analysis of Silver for September 26, 2014

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Overview


As it is seen from today's 4H chart, the metal is stabilizing above the support level of 17.50 after its failure to break the support level of 17.30 and has bounced from it. Currently, we should wait for retesting of the support level of 17.50again and closing below it to get the bearish move opportunity. In that case, we will get a good opportunity to sell below the support level till testing the next support level of 17.30. Therefore, we can consider our first target a few pips above this support level, but as long as the price is still above the support level of 17.50, this cancels the bearish move scenario.


Resistance and support levels: R3 (18.30), R2 (18.00), R1 (17.75), S1 (17.50), S2 (17.30), S3(17.00).





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Technical analysis of NZD/USD for September 26, 2014

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Trading recommendations :



  • The NZD/USD pair is in the long term indicates that the market was turning to bearish from the level of 0.8066. Also, it should be noted that the trend had also broken the second support at the level of 0.7990. Therefore, it will be a good sign to sell below the level of 0.7990 with the first target of 0.7900 to the level of 0.7880. Moreover, the NZD/USD pair will call for a downtrend in order to continue its bearish movement towards 0.7857. Notwithstanding, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed above 0.7990 at the price of 0.8020.



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Observations :



  • Please check out the market volatility before investing, because the sight price may have already been reached and the scenarios might have become invalidated.

  • Key level is at 0.7990.

  • History will probably repeat itself at this level again.


Warning :



  • Stop loss should never exceed your maximum exposure amounts.

  • The market has a high volatility, if the previous day had a huge volatility.


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Technical analysis of GBP/USD for September 26, 2014

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Trading recommendations :



  • According to the preceding news, the GBP/USD pair is still moving between 1.6250 and 1.6385.

  • So, the range of the pair will be around 120 pips on the face of maximum today.

  • Therefore, sell below the level of 1.6385 which represents the ratio of 61.8% Fibonacci retracement levels with the first target at the 1.6270 price, then It will call for ф downtrend in order to continue its bearish movement towards 1.6246 in order to test this strong support (it should be noted that the price of 1.6257 is going to form a new double bottom around the ratio of 23.6% Fibonacci retracement levels).

  • At the same time, the stop loss should be placed at the level of 1.6450.


Intraday technical levels :


Date and Time:26/09/2014 10:46


Pair:GBP/USD



  • R3: 1.6411

  • R2: 1.6376

  • R1: 1.6345

  • PP: 1.6310

  • S1: 1.6279

  • S2: 1.6244

  • S3: 1.6213


Note :



  • It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.


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#USDX Technical analysis for September 26, 2014

The Dollar index makes a small pull back but the overall trend remains fully bullish. There is no sign of a major trend reversal and there is no indication that we could have reached the end of the upward move.


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Red line = resistance


Green line s= price channel


The Dollar index remains inside the upward sloping channel and above the previously broken resistance at 84.80. A pull back to back test the break out at 85 is very possible but I believe this would be a buying opportunity. The trend remains up. Price remains above the Ichimoku cloud.


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Red line = resistance


Blue line= support


The longer-term trend remains fully bullish. The parabolic rise does not give many opportunities to enter long but it is very dangerous going against trend and shorting this index. I prefer to wait for a pull back towards 85-85.10 to enter long than go short. This up trend is very strong and I would not bet against it specially now that we have broken above the long-term important resistance of 85.


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Gold Technical analysis for September 26, 2014

Gold price has made a double bottom around $1,207-$1,210 and then bounced back above $1,220 towards $1,230. Our longer-term view remains bearish and the upside potential we see is limited to $1,240-50. The trend remains down and we prefer to look for sell opportunities.


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Green line = price channel


Blue line = support


Gold price remains inside the downward sloping channel and is testing the Ichimoku cloud resistance. The double bottom at $1,207 area gives me a target of $1,230 that we have already reached in early trading or even $1,240. I expect price to be rejected between $1,230-40 and turn back lower to break $1,207.


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Blue line = triangle formation


The trend in the daily chart remains fully bearish. This upward bounce is expected to be short-lived and a resumption of the downtrend to test the lows at $1,180 is expected. I prefer to look for sell opportunities near $1,230-40 or sell on signs of weakness. A sign of weakness would be the break below support level of $1,215 and below $1,207.


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Technical analysis of USD/CAD for September 26, 2014

General overview for 26/09/2104 08:20 CET


The market is behaving as anticipated, slowly making new higher highs but the projected target level has not been hit yet. The market is still trading inside of the golden channel, bouncing up from the lower channel boundary. The Awesome Oscillator shows moderate pace of momentum, so the traders might expect another high to be made on this pair. The short term, mid-term and long-term outlook is still bullish and the first target is at the level of 1.1187.


Support/Resistance:

1.1187 - WR2

1.1130 - Intraday Resistance|Swing High|

1.1065 - WR1

1.1047 - Intraday Support

1.0979 - Weekly Pivot


Trading recommendations:

Day traders should consider opening buy positions from the level of 1.1130 with SL below the level of 1.1097 and TP at the level of 1.1187.


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Review of USDX for September 26, 2014

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The Federal Reserve comments made the US dollar stronger. The US data and the job market look pretty strong adding fuel to the USD index to breach above $85. The weekly job claims climbed to 12k that is very optimistic data for the Fed to hike interest rates sooner than anticipated. We have been recommending to buy the USD index from 80.45 levels for upside targets at 84.50 and 90. The first target is successfully completed and now we are waiting for 88 and 90 levels. It took 3 months to complete the first target, please refer to June 29, 2014 for our previous article.


Support 84.80 84.20 83.80


In case of a daily close below 84.20 only, the weekly trend turns to negative.


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Intraday analysis of USD/CAD for September 26, 2014

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The pair breached the double top in the weekly chart, aiming at a 9-month swing high at 1.2222 in-between strong resistance at 1.1150 levels. The pair has support at 1.11, below this, 1.1054 and 1.0 are the strong support levels. In the near term until the pair closes above 1.098, use a dip to buy. On the bearish front, in case of a daily close below 1.098, it can fall to 1.0928 which is a strong support level in the short term. The weekly Stochastics is indicating some more upside steam left.


Support 1.11 1.1054 1.0


Resistance 1.1150 1.1185 1.22


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For an intraday view, the prices are above 12ema and 34hrsma. The pair has support at 1.11 (8hr low), below this, 1.1093. The hourly support is at 1.1093, 1.1075 and 1.1035, below them the selling pressure will drive the pair towards 1.0987 and 1.0975. Above 1.1127, it can fly up to 1.1145, 1.1185 and 1.12 levels.


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Technical analysis of EUR/USD for September 26, 2014

When the European market opens, some economic news will be released such as GfK German Consumer Climate, German Import Prices m/m. The US will release the economic data too such as the Final GDP q/q, Final GDP Price Index q/q, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2816.

Strong Resistance:1.2809.

Original Resistance: 1.2796.

Inner Sell Area: 1.2783.

Target Inner Area: 1.2753.

Inner Buy Area: 1.2723.

Original Support: 1.2710.

Strong Support: 1.2697.

Breakout SELL Level: 1.2690.

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 26, 2014

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In Asia, Japan will release the Tokyo Core CPI y/y, National Core CPI y/y and the US will release some economic data such as Final GDP q/q, Final GDP Price Index q/q, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations. 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 TECHNICAL LEVELS:

Resistance. 3: 109.19.

Resistance. 2: 108.98.

Resistance. 1: 108.76.

Support. 1: 108.50.

Support. 2: 108.29.

Support. 3: 108.07.

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 26, 2014


Technical outlook and chart setups:


The EUR/JPY pair pulled back into 138.50 levels as discussed earlier. This move was expected after the pair made a high above 141.00 levels last week. Please note that the past resistance turned support region is also passing around the same region for now (around 138.50). It is recommended to initiate long positions again at current levels and expect a rally up to 142.50 in coming sessions. Immediate support is at 138.00 (fibonacci), followed by 137.00 (fibonacci), 135.85 and lower, while resistance is seen at 142.50 and higher respectively. Bulls seen to be taking back control for now, remain long.


Trading recommendations:


Initiate fresh long positions now (138.70/75), stop below 137.70, target is 142.50.


Good luck!


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Intraday trading recommendations for GBP/USD for September 26, 2014

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The Fed's comments made the US dollar stronger. The US data and the job market look pretty strong that adds fuel to the USD index to breach above $85. The cable regains its strength after the Scottish referendum moving 300 odd pips from lows. The cable has held the support at 50Msma and covered half of its losses in this month as of now. The cable has a strong resistance zone at 1.65 (200MEma) and 1.6650 (200MSma) in the medium-term perspective. In the short term 1.6590-1.66 will act as game change levels.


Support 1.6210 1.61 1.60


Resistance 1.6525 1.66 1.6650


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For an intraday view, the prices are closed below 12ema and 35DEMA. The prices are back to the 2-month trend lines. In the h4 chart, the prices hit the 2-week trend line as well. The pair has a minor base at 1.6295-1.63, below this, 1.6275 is the support level. The safe buy will be triggered only above 1.6360 for an upside target at 1.6385, 1.64 and 1.6415. Strong momentum is only above 1.6415 (multiple hourly resistance).


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Intraday trading recommendations for EUR/USD for September 26, 2014

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The Fed's comments made the US dollar stronger. The US data and the job market look pretty strong that adds fuel to the USD index to breach above $85. The weekly job claims climbed to 12k, very optimistic data for the Fed to hike interest rates sooner than expected. The EUR/USD pair drifted to 1.2698 and hit the monthly 61.8 fib level and 200MEma. If the pair closes below 200MEma, it will extend its fall to 1.2435 and 1.22 (200MSma) in the medium term. The pair has monthly resistance at 1.3410.


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For an intraday view, the prices are closed below 12ema and 35DEMA. The prices made a small base at 1.2725 on an hourly basis in the h4 chart. In the Pacific session the pair is trading at 1.2758 facing resistance at 1.2775 (12ema) levels. Above 1.2775 it can fly up to 1.2790, 1.28 and 1.2830. We can see strong upmove only above 1.2830. The trading range is framed between 1.2835-1.2725; a breakout either side will open some more room to trade. We still recommend selling on an up move.


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Daily analysis of USDX for September 26, 2014

Daily chart: The USDX is trying to consolidate above the resistance level of 85.18, because the next target for this instrument would be the level of 86.20. However, If the USDX makes a pullback at current levels, it would be expected to fall to the support level of 84.29 in the medium term. The MACD indicator is entering neutral territory.


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H4 chart: The USDX is forming a bullish pattern above the support level of 85.06, where one bullish trend line is placed. If the USDX makes a rebound at current levels, it's expected to rise to the level of 86.55. The MACD indicator is in positive territory.


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H1 chart: The USDX found strong resistance at the 85.49 level and now, this instrument is trying to drop to the support level of 85.03. However, the USDX could make a breakout again at the resistance level of 85.27 to rise to the level of 85.49. The MACD indicator remains in negative 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 85.27, take profit is at 85.49, and stop loss is at 85.03.


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Daily analysis of GBP/USD for September 26, 2014

Daily chart: The GBP/USD is dealing with a breakout at the support level of 1.6326,the pair is likely to fall to the level of 1.6235. However, the GBP/USD could conduct a rebound at current levels to go up to the resistance level of 1.6447. The MACD indicator remains in positive territory.


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H4 chart: The GBP/USD has formed another fractal near the support level of 1.6250, so this pair could rebound to try to make a climb back to where the 200 SMA is located in this chart. However, if the GBP/USD executes a breakout at the 1.6247 level, it would be expected to drop to the level of 1.6051. The MACD indicator remains in negative territory.


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H1 chart: This pair is consolidating below the 200-day moving average, so this pair is trying to make a breakout at the support level of 1.6291 to fall to the level of 1.6252. On the other hand, if this pair makes a breakout at the resistance level of 1.6338, the next target would be the level of 1.6375. The MACD indicator is entering neutral territory.


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Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6338, take profit is at 1.6375, and stop loss is at 1.6299.


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Technical analysis of USD/JPY for Sep 25, 2014

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Fundamental Overview:


USD/JPY is expected to trade in a lower range. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 85.06 versus 84.70 early Wednesday) and yen-funded carry trades amid improved investor risk appetite (VIX fear gauge eased 11.12% to 13.27; S&P 500 rose 0.78% to close at 1,998.3 overnight) on larger-than-expected 18% on-month increase in U.S. August new home sales to 504,000 for the biggest one-month jump since 1992 and the highest level of sales since May 2008 (versus forecast +3.4%). USD/JPY is also supported by ultra-loose Bank of Japan's monetary policy, demand from Japanese importers and higher U.S. Treasury yields (10-year at 2.565% versus 2.533% late Tuesday). But USD/JPY gains are tempered by the Japanese export sales.


Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at the overbought zone, 5 and 15-day moving averages are advancing.


Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 108.45. A break of this target will move the pair further downwards to 108.20. The pivot point stands at 109.40. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 109.70 and the second target at 110.


Resistance levels:

109.70

110

110.35


Support levels:

108.45

108.20

107.65


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Technical analysis of USD/CHF for Sep 25, 2014

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Fundamental Overview:


USD/CHF is expected to consolidate with a bullish bias after hitting a 14-month high 0.9459 on Wednesday. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 85.06 versus 84.70 early Wednesday) and yen-funded carry trades amid improved investor risk appetite (VIX fear gauge eased 11.12% to 13.27; S&P 500 rose 0.78% to close at 1,998.3 overnight) on larger-than-expected 18% on-month increase in U.S. August new home sales to 504,000 for the biggest one-month jump since 1992 and the highest level of sales since May 2008 (versus forecast +3.4%), contagion from weak EUR on CHF and dovish Swiss National Bank's monetary policy and 0.32-point drop in UBS Switzerland consumption indicator to 1.35 in August and franc sales on cross trades versus major currencies.


Technical Comments:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at the overbought zone, five and 15-day moving averages are advancing.


Trading recommendations:


The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9520 and the second target at 0.9545. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9380. A break of this target would push the pair further downwards and one may expect the second target at 0.9420. The pivot point is at 0.9380.


Resistance levels:

0.9520

0.9545

0.9570



Support levels:


0.9380

0.9340

0.9295


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Technical analysis of NZD/USD for Sep 25, 2014

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Fundamental Overview:


NZD/USD is expected to trade with risks skewed higher. It is underpinned by the Kiwi demand on buoyant NZD/JPY cross amid the positive risk sentiment, Kiwi demand on buoyant NZD/CHF and soft EUR/NZD, GBP/NZD crosses. But NZD/USD gains are tempered by the positive USD sentiment and lower Fonterra Co-Operative Group Ltd's forecast for payouts to farmers and Kiwi sales on rebounding AUD/NZD cross.


Technical Comment:
Daily chart is still negative-biased as MACD is bearish, stochastics stays suppressed at the oversold zone, 5 and 15-day moving averages are falling, although inside-day-range pattern was completed on Wednesday.


Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.7880. A break of this target will move the pair further downwards to 0.7835. The pivot point stands at 0.8035. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.8095 and the second target at 0.8145.


Resistance levels:

0.8095

0.8145

0.8175


Support levels:

0.7880

0.7835

0.78


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