Gold analysis for October 10, 2014

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Overview


Since our last analysis, gold has been trading sideways around the price of 1,223.00. Our resistance level at the price of 1,230.00 held successful, which caused price to start with downard movement. According to the daily chart, we can observe weak demand in a volume above the average, which is a sign that buying gold at this stage looks risky. According to previous price action, we got resistance level at the price of 1,230.00 and 1,234.00 (swing high like resistance). If the price breaks the level of 1,234.00 in a high volume, we may see testing of the level of 1,244.00. Anyway, since gold has started bearish corrective phase, I placed Fibonacci retracement to find potential support levels and I got Fibonacci retracement 38.2% at the price of 1,214.00 and Fibonacci retracement 61.8% at the price of 1,202.00.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,231.82


R2: 1,235.28


R3: 1,240.90


Support levels


S1: 1,220.58


S2: 1,217.12


S3: 1,211.50


Trading recommendations: Buying still looks risky since gold is near resistance levels


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Technical analysis of USD/JPY for October 10, 2014

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Fundamental overview:


USD/JPY is expected to consolidate with bearish bias after hitting three-week low 107.53 on Thursday.It is undermined by the flows to haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge soared 24.16% to 18.76, S&P 500 plunged 2.07% to close at 1,928.21 overnight) as weak German August exports data revived worries over slowing global growth. USD/JPY is also weighed by the soft U.S. Treasury yields (10-year at 2.326% versus 2.330% late Wednesday), improved yen sentiment on larger-than-expected 4.7% on-month increase in Japan's August core machinery orders (versus forecast +1.0%) and Japan exporter sales. But USD/JPY losses are tempered by the demand from Japan importers and improved dollar sentiment (ICE spot dollar index last 85.55 versus 85.32 early Thursday) after comment from Fed's Bullard that "the markets are making a mistake" expecting the Fed to maintain its ultra-easy policy stance longer than Fed officials currently expect and fewer-than-expected 287,000 U.S. jobless claims in week ended Oct. 4 (versus forecast 292,000), larger-than-expected 0.7% increase in U.S. August wholesale inventories (versus forecast +0.4%) and positions adjustment before long weekend (financial markets in Japan and U.S. are shut Monday for public holidays).


Technical comment:
Daily chart is negative-biased as MACD and stochastics are bearish, five-day moving average is below 15-day MA and is declining.


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 107.35. A break of this target will move the pair further downwards to 107. The pivot point stands at 108. In case the price moves in the opposite direction and bounces back from the support level, then it will move 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 108.30 and the second target at 108.80.


Resistance levels:

108.30

108.80

109.25


Support levels:

107.35

107

106.75


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EUR/NZD analysis for October 10, 2014

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Overview :


In our last analysis, EUR/NZD has been trading upwards. Tthe price tested the level of 1.6214. I have placed Fibonacci expansion from most recent swings to find potential end of bullish corrective phase. I got Fibonacci expanson 61.8% at the price of 1.6200 (currently on the test) and Fibonacci expansion 100% at the price of 1.6310 . If the price breaks the level of 1.6000 we may see testing the level of 1.5900. Be careful when buying and watch for potential selling opportunities after retracement. According to the daily timeframe, we can observe weak demand on the market.


Daily Fibonacci pivot levels :


Resistance levels:


R1: 1.6158


R2: 1.6190


R3: 1.6241


Support levels:


S1: 1.6057


S2: 1.6025


S3: 1.5975


Trading recommendations: Be careful when buying the EUR/NZD pair since we may see short-term bearish continuation


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Technical analysis of USD/CHF for October 10, 2014

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Fundamental overview:


USD/CHF is expected to trade in higher range.It is underpinned by the improved dollar sentiment (ICE spot dollar index last 85.55 versus 85.32 early Thursday) after comment from Fed's Bullard that "the markets are making a mistake" expecting the Fed to maintain its ultra-easy policy stance longer than Fed officials currently expect; fewer-than-expected 287,000 U.S. jobless claims in week ended Oct. 4 (versus forecast 292,000), larger-than-expected 0.7% increase in U.S. August wholesale inventories (versus forecast +0.4%) and franc sales on soft CHF/JPY cross and dovish Swiss National Bank's monetary policy. But USD/CHF gains are tempered by the positions adjustment before U.S. long weekend. Financial markets in Japan and U.S. are shut Monday for public holidays).


Technical comments:
Daily chart is still negative-biased as MACD and stochastics are in bearish mode.


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 0.96 and the second target at 0.9650. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9465. 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 0.95.


Resistance levels:

0.96

0.9650

0.9685



Support levels:


0.9465

0.9420

0.9380


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Technical analysis of NZD/USD for October 10, 2014

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Fundamental overview:


NZD/USD is expected to trade in lower range.It is undermined by the improved dollar sentiment, Kiwi sales on the soft NZD/JPY cross amid increased investor risk aversion, weak dairy prices and threat of central bank intervention to weaken the NZD. But NZD/USD losses are tempered by the Kiwi demand on soft AUD/NZD cross and positions adjustment before U.S. long weekend.


Technical comment:

Daily chart is mixed as MACD and stochastics are in bullish mode but bearish dark-cloud-cover candlestick pattern was completed on Thursday.


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 0.7785. A break of this target will move the pair further downwards to 0.7745. The pivot point stands at 0.7885. 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 0.7920 and the second target at 0.7960.


Resistance levels:

0.7920

0.7960

0.8005



Support levels:


0.7785

0.7765

0.7745


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Elliott wave analysis of EUR/NZD for October 10 - 2014

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Today's support and resistance levels:


R3: 1.6269


R2: 1.6248


R3: 1.6219


Current spot: 1.6195


S1: 1.6169


S2: 1.6150


S3: 1.6128


Technical summary:


Support near 1.5978 was never within striking distance and the rally of the 1.6031 low does look impulsive in nature. We would like to see resistance at 1.6269 broken as confirmation, that a new impulsive rally is building for a rally to 1.6446 on the way higher towards 1.6836. Short-term, we will be looking for a minor correction towards 1.6130 before the next rally higher to 1.6269 and likely above.


Trading recommendation:


We missed our buy-target at 1.5985. We will buy EUR at 1.6135 or upon a break above 1.6269 with a stop at 1.6025.


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Elliott wave analysis of EUR/JPY for October 10 - 2014

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Today's support and resistance levels:


R3: 137.07


R2: 136.84


R1: 136.64


Current spot: 136.64


S1: 136. 56


S2: 136.33


S3: 135.80


Technical summary:


What a nasty wipe-saw we have seen. For now we will keep the red wave i/ii count, but the rally to 141.22 could as easily be an X-wave calling for another zig-zag decline towards at least 133.57 and likely even lower to 125.98. That said, as long as important support at 135.80 protects the downside, we will keep the red wave ii count. We have changed the short-term labeling slightly to a a-b-c correction in red wave ii and if this count is correct, we should see support at 136.33, where red wave c will be equal in length to red wave a, but to confirm a bottom, we need a break above minor resistance at 137.07 and more importantly a break above 137.94.


Trading Recommendation:


Our stop was hit again at 136.50. We will buy EUR at 136.35 with a stop+revers at 135.70 or buy upon a break above 137.07 with the same stop+revers at 135.70.


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Technical analysis of GBP/USD for October 10, 2014

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Trading recommendations :



  • According to the previous events, the GBP/USD pair is still trapped between the levels of 1.6030 and 1.6150.

  • Strong resistance will be formed at the level of 1.6188 providing a clear signal for sell deals with the targets seen at the weekly pivot point (1.6069) and 1.5991.

  • Stop loss is to be placed above 1.6220.

  • Strong level (support) will be formed at the level of 1.5975 providing a clear signal for buy deals with the target seen at the 1.6080 level.

  • Stop loss is to be placed below the level of 1.5951. This level is representing the double bottom in the H1 chart.



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Notes :



  • The double top will be set at the level of 1.6188.

  • We expect a range of 90 pips today.

  • But it should be noted that the risk of 60 pips must make a profit of 81 pips.

  • Volatility: 218.48. Therefore, the market indicates the lower volatility.

  • The value of 50% Fibonacci retracement levels is 1.6119 (for confirming for the bullish market).


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Technical analysis of EUR/USD for October 10, 2014

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Trading recommendations :



  • The double top of EUR/USD pair will set at the level of 1.2790 and the double bottom is going to be set at 1.2616 level.

  • This week, the price had hit the weekly pivot point, the resistance 1, the resistance 2 and returned to the resistance 1.

  • The major supports are going to set at the levels of 1.2650 and 1.2620.

  • So, according to the previous events, the price of the EUR/USD pair is going to move between 1.2650 and 1.2790.

  • We expect a range of 86 pips today.

  • The level of 1.2653 is representing the weekly pivot point. Therefore, it will be very useful to buy above the price of 1.2653 in the short term with the first target at 1.2730 and it is continuing toward the the double top at 1.2790 again.

  • However, the stop loss should be placed at 1.2580.


Intraday technical levels :


Date and Time:10/10/2014 11:20


Pair: EUR/USD



  • R3: 1.2893

  • R2: 1.2841

  • R1: 1.2766

  • PP: 1.2714

  • S1: 1.2639

  • S2: 1.2587

  • S3: 1.2512


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#USDX Technical analysis for October 10, 2014

The Dollar index has showed signs of bullish reversal yesterday as it did not close below the important short-term support of 85. Although the Dollar index broke below 85, the selling pressures were short-lived. The reversal in the Dollar index shows that the pullback was just a shallow retracement of the bigger uptrend and we should be challenging highs soon. Long-term trend remains bullish.


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Blue line = support


Red line = price channel


The Dollar index is trying to break above the Ichimoku cloud that was broken on Thursday. The Dollar index remains inside the upward sloping channel as shown in the 4-hour chart above. The previously broken support at 85.50 was re-taken early today and this is a bullish sign.


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In the daily chart, the Ichimoku cloud indicators remain bullish. Support at 85 is held but resistance by the kijun-sen at 85.84 should be broken in order for this upward reversal to have a meaning. Last stand for bulls is the 85 price level. As long as price holds above it, we can say that the pull back ended at the 23% retracement. Longer-term trend remains bullish. Yesterday lows are very crucial for bulls. I would not hold a long position if we made a new lower lows relative to yesterday as the index could push lower towards 84.


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Gold Wave analysis for October 10, 2014

Gold has probably completed wave 4 at $1,235 and it now resumes its down trend. Longer-term trend remains bearish targeting $1,100-$1,000. Short-term trend remains bullish as long as Gold price is above $1,204.


goldh4.jpg

Blue line= support


In the 4 hour chart above I show my wave count in Gold. Gold price reached $1,235 where the 38% retracement was from the wave 2 high. The upward bounce from $1,183 is in three waves. A typical corrective wave with no impulsive structure. Wave b low at $1,204 is important short-term support that if broken will flip trend to bearish from bullish.gold.jpg


Red line = support


Zooming in the short-term view of wave 4, we observe clearly the three wave structure of uptrend nature. I remain bearish for longer-term despite this upside bounce in Gold price. This is wave 4 and once price breaks below the red trend line support at $1,214 we will have many chances of breaking the intermediate low at $1,204 where I believe the wave b is located. My longer-term target remains below $1,180. My target is between $1,000 and $1,100.


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Technical analysis of EUR/JPY for October 10, 2014

General overview for 10/10/2014 07:20 CET


After breaking above the golden channel, the market has been capped right on the supply zone, marked on chart as the grey rectangle, and reversed. Currently, if the market breaks below the last swing low at the level of 136.55, then the whole impulsive count is invalidated and lower levels should be expected including another test of the level of 135.81. Moreover, it will mean that the price is back to the larger time frame range zone and latest price rally, marked on chart as wave (1) purple, has been a false breakout rally.


Support/Resistance:


136.55 - Wave B Low


137.14 - Intraday Resistance


137.68 - Weekly Pivot


137.95 - Supply Zone|Intraday Resistance|Technical Resistance |Key Level|


138.45 - WR1


138.97 - 139.15 - Demand Breakthrough Zone


Trading recommendations:


As the outlook is not very clear at the moment, please refrain from trading until clear pattern emerges.


1412919053_eurjpy_h1.jpg The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/CAD for October 10, 2014

General overview for 10/10/2014 07:00 CET


As anticipated yesterday, the corrective wave b green is testing the lower golden channel boundary from the downside. The key level to the upside is about to be broken and the alternate count might be confirmed/invalidated soon. To do this, the market must break above the level of 1.1210 and head into the last swing high at the level of 1.1240. On the other hand, a failure here on this price level will bo more supportive for the main count, that indicates one more wave to the downside in order to complete the corrective cycle in wave (2).


Support/Resistance:


1.1240 - Swing High


1.1211 - Weekly Pivot


1.1210 - Intraday Resistance


1.1154 - WS1


1.1124 - Intraday Support


1.1070-1.1080 - Demand Zone.


Trading recommendations:


Daytraders should consider to open buy stop orders if the level of 1.1211 is broken, with SL below the level of 1.1179 and TP at the level of 1.1240.


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Technical analysis of EUR/USD for October 10, 2014

When the European market opens, some economic news will be released such as French Industrial Production m/m and Italian Industrial Production m/m.The US will release its Import Prices m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.



Today's technical levels:

Breakout BUY Level: 1.2750.

Strong Resistance:1.2742.

Original Resistance: 1.2730.

Inner Sell Area: 1.2718.

Target Inner Area: 1.2688.

Inner Buy Area: 1.2658.

Original Support: 1.2646.

Strong Support: 1.2634.

Breakout SELL Level: 1.2626.



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 October 10, 2014

In Asia, Japan will release the Monetary Policy Meeting Minutes, Tertiary Industry Activity m/m, Bank Lending y/y, and Consumer Confidence. Meanwhile, the US will release its Import Prices m/m. So there is a big probability the USD/JPY pair will move with low to medium volatility during the Asian session, but with low volatility during the US session.


Today's technical levels:


Resistance. 3: 108.29.

Resistance. 2: 108.08.

Resistance. 1: 107.87.

Support. 1: 107.61.

Support. 2: 107.40.

Support. 3: 107.18.



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/JPY for October 10, 2014

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The pair has been consolidating between 137.98 100Dsma and 136.55. For last 3 consecutive days, the pair has been taking support at 136.65 levels. The pair closed and is trading below 50Wsma and 20Wsma, it represents sell on every up move in the near term and short term. This week, as of now the pair has rejected at 20Wsma 137.93. We recommend fresh selling below 136.55 target 135.80 and 135.45 levels. The pair has monthly support at 135.42 20Msma. Should it break below 20Msma, we can expect free fall up to 134.50 and 134.00 levels. For an intraday view, the pair is seen to get some strength only above 137.30. We recommend buying only above 137.30 until sellers take profits.


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Intraday trading recommendations for USD/CAD (October 10, 2014)

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Duringyesterday's session, the pair held the 20Dsma and closed above it. The 20Dsma 1.11 is providing support from last 2 consecutive days on a closing basis. The nearest support zone existed between 1.1072 and 1.11 levels. A daily close is below 20Dsma. The bears are likely to try to drag another 100 pips down until using a dip to buy results in profits. The pair was unable to breach the previous swing high at 1.1279 in March 2014. It made high 1.1270 and started moving to a downside. We recommend fresh buying only above 1.1280. As long as the pair trades below 1.1270, it represents a double top in the weekly chart. And in the monthly chart, as long as it trades below 1.1279, it represents a double top.


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For an intraday view, the price closed and is trading below 12ema and 35DEMA. In the h4 chart, the price is facing strong resistance at right shoulder. We can observe hns pattern in the h4 chart. The level 1.1223 is the left shoulder and 1.1211 is the right shoulder. Safe buying would trigger above 1.1211 target 1.1223, 1.1244 and 1.1265 levels. In case the price breaches 1.1280, the pair would extend its rally by another 100-150 pips. We strongly recommend selling below the neck line (NL) for 150 pips down side target.


Trade-


Buying above 1.1211


Selling below 1.1149


Panic below 1.1072


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Technical Analysis on USDX for October 10, 2014

USDXDaily.png


After a stellar up move, the US dollar index is going to close in red candlestick on a weekly basis for the first time. This view would erase in case the price closes above 86.67 but chances are very remote. The US dollar has paused its rally after 11 consecutive weeks. The index is trading below the previous month high 86.22. During yesterday's session, the pair broke below the 20Dsma on an intraday basis; however, at the end of the day, it successfully closed above 20Dsma meaning that bulls are using dip to accumulate. The index has minor resistance above the level of 85.70. The price is likely to move up to 85.90, 86.10 and 86.22. In case the bulls close this week above 86.22, we can see another bull rally in the coming weeks. We recommend fresh buying above 85.62 levels. On the bearish front, if the price closes below 20Dsma, the near term weakness is seen to increase.


USDXH4.png

For an intraday view, the US dollar index closed above 12ema. In yesterday's session, the 21hrsma and descending trend line acted as strong resistance in the h4 chart. Risky traders can start buying above 85.63 and safe traders can start buying above 85.83 34hrsma. For bears, it seems a good opportunity to selling below 85.58 target 85.40, 85.22,85.10 and 84.95 levels.


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Short-term forecast for crude oil (October 10, 2014)

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The US data pushed the oil price to $84. The oil prices are verging on symmetric triangle in the weekly and monthly chart. In case the price closes below the bottom of the triangle or the level of 84, the new large bearish wave would generate. Earlier, we recommended to sell on every rise in September 05, 2014 article for a down side target 88,81-80 levels recorded at 94.50 levels. A break below 84.06 the prices would extend its fall to 83.65, 82.10 in the near term. We recommend again to sell on every up move or sell below 84.0. The long term view indicates strong bearish targets aiming for 77.00 June 2012 low, 71.50 multi month low and 69.50 200Msma.


Trade-


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Daily analysis of GBP/USD for October 10, 2014

On the H4 chart, GBP/USD has formed a fractal at the resistance level of 1.6240, where the pair performed a pullback as a corrective move. The GBP/USD pair might be forming a bullish pattern to attempt a breakout at that level, although the bearish trend line at the 1.6160 level is strong resistance for this pair. Probably, during today's session, GBP/USD could extend its fall to the support level of 1.6051. The MACD indicator is entering overbought area.


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H4chart's resistance levels: 1.6247 – 1.6435


H4 chart's support levels: 1.6051 - 1.6004


The GBP/USD pair found resistance at 1.6216 level. So far, this pair has been trying to form a bearish pattern below the 200 SMA in the hourly chart. If the GBP/USD succeeds in extending its drop below the support level of 1.6117, it would be expected to fall to 1.6075 level in the short term.


GBPUSDH1.png


H1 chart's resistance levels: 1.6170 – 1.6216


H1 chart's support levels: 1.6117 – 1.6075


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 1.6170, take profit is at 1.6216, and stop loss is at 1.6124.


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Daily analysis of GBP/JPY for October 09, 2014

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Overview


In the 4H chart, today's closing below the resistance level of 175.00 gives the price an opportunity for a new bearish trend. As shown here, currently, the price may reverse its bullish trend of last week to start its bearish move by breaking the support level of 174.40 and closing below it. In that case, we may get another opportunity for more sell signals. It would open the way towards 173.70 as the first target, and then the price should test the support level to continue its bearish move. But as long as the price stabilizes above the support level of 174.40, it cancels the first scenario.


Resistance and support levels: R3 (176.75), R2 (176.00), R1 (175.00), S1 (174.40), S2 (173.70), S3 (173.30).


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GBP/USD intraday technical levels and trading recommendations for October 9, 2014

gbpdaily.jpg


Overview:


On July 15, extensive bearish impulse was initiated. Since then, the GBP/USD pair has been downtrending below the depicted downtrend line.


Many bearish impulses were previously initiated around 1.7180 and 1.6630 where the downtrend line came to meet the pair then.


The price level of 1.6140 constituted a weekly support level that paused the bearish movement on September 9 when the bears quickly visited price level of 1.6060.


Retracement towards the price zone of 1.6350-1.6400 took place as expected where a new bearish impulse was applied as anticipated.


This week, the same scenario is taking place. The bulls are pushing towards the downtrend line as well as previous prominent bottom on the weekly chart (price zone of 1.6225-1.6250).


The market offered a valid SELL opportunity around 1.6460 during last week's consolidations. Bearish targets were located around 1.6160, 1.6080 then 1.5890 ( ALL target levels already got visited ).


Trading recommendations:


Based on the previous data, SELL positions are preferred as long as the bears keep defending price zone of 1.6250-1.6320 ( 23.6% Fibonacci level and previous broken bottom ).


The stop loss to be placed above 1.6320. Price levels of 1.6080 and 1.5890 are initial targets.


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USD/CAD intraday technical levels and trading recommendations for October 9, 2014

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Overview :


Two months ago, the ongoing bearish swing (initiated in March 2014) was hindered at the price level of 1.0620. This price level corresponded to the lower limit of the channel as well as the backside of a steeper bearish one.


In August, bullish breakout off the movement channel took place. This enabled a bullish Flag pattern to be established. Bullish targets were successfully hit, including price level of 1.1230.


Strong bullish momentum has been expressed for a couple of weeks. Note that breaching price zone of 1.1230-1.1260 and fixation above it triggers new bullish swing.


On the other hand, a break below 1.1100-1.1070 is more likely to happen. This indicates that the bearish correction will extend further towards 1.0980-1.0950 where a key-support zone is depicted on the chart (the lower limit of the bullish channel and 50% Fibonacci level).


Recommendations:


The price zone of 1.1250-1.1276 corresponded to previous significant tops on the daily chart. Extensive bearish rejection was expressed as anticipated.

Risky traders can take a SELL entry around 1.1250-1.1275. Bearish targets are located at 1.1080 and 1.0990.


Then, the price zone of 1.0980-1.0950 should be watched for another LONG position to make use of the ongoing bullish trend.


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Gold : analysis for October 09, 2014

GOLDDaily09.png


GOLDH409.png


Overview:


Since our last analysis, gold has been trading upwards. The price tested the level of 1,233.14. I have placed Fibonacci retracement to find potential resistance level and I got Fibonacci retracement 38.2% at the price of 1,244.80 and Fibonacci retracement 61.8% at the price of 1,283.00. According to the daily chart, we can observe demand in a volume below above the average. According to previous price action, we got resistance level at the price of 1,230.00 and 1,234.00 (swing high like resistance). If the price breaks the level of 1,234.00 in a high volume, we may see testing the level of 1,244.00. Anyway, we can observe weak demand and neutral bar according to the 4h timeframe, we bearish correctiion is possible. Do not forget, our mid term Fibonacci expansion 100% at the price of 1,193.00 held successful, and that made gold start bullish corrective phase.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,219.28


R2: 1,.223.86


R3: 1,231.27


Support levels


S1: 1,204.46


S2: 1,199.88


S3: 1,192.47


Trading recommendations: Buying still looks risky since gold is near resistance levels


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