EUR/NZD analysis for February 11, 2015

EURNZDDaily11.png

EURNZDH411.png


Overview:


In our last analysis EUR/NZD was trading sideways around the price of 1.5250. Our Fibonacci retracement 61.8% at the price of 1.5180 almost got tested. So my advice is to be careful when selling EUR/NZD at this stage. Anyway, if the price breaks the level of 1.5180, we may see a possible testing of the level of 1.5060. Our Fibonacci expansion 61.8% at the price of 1.5235 is held successfully. According to the 4H time frame, we can observe lack of supply around the price of 1.5225, which is a sign that selling looks risky. We got resistance level at the price of 1.5340.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5314


R2: 1.5337


R3: 1.5373


Support levels:


S1: 1.5242


S2: 1.5219


S3: 1.5183


Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after retracement (buy on the dips).




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

Technical analysis of GBP/USD for February 11, 2015

1423659781_gbpusdh4.png

Overview :



  • Yesterday, the GBP/USD pair has an upside movement from the level of 1.5192 to 1.5269, and today the market has opened at 1.5270. Putting it simply, the uptrend represents the double bottom of the channel emerging at the level of 1.5250. It is equally important that the RSI is still positive on the daily frame, so it calls for a new uptrend. Additionally, a strong support is set at the level of 1.5250 on the H4 chart. Therefore, the price movement will be between 1.5250 and 1.5368 (50% of Fibonacci retracement levels at the same time frame). Moreover, the pair has already formed the major support at the level of 1.5553. Consequently, the market will indicate a bullish opportunity at level of 1.5553 with a first target at 1.5313. Then, if it breaks the level of 1.5313,a breakout above this level with a second target at 1.5368 will be seen (note that the weekly resistance 1 will be set at the level of 1.5402). However, the best location for placing a stop loss should be below 1.5205.



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

Gold analysis for February 11, 2015

GOLDDaily11.png

GOLDH411.png


Overview :


Since our last analysis gold has been trading sideways around the price of 1,235.00. We are facing low volatility on the market. According to the H4 time frame, we can observe weak supply around the price of 1,232.00. According to the daily time frame, we have supply in a volume below the average. Major resistance level is around the price of 1,307.00 (swing high like resistance) and intraday resistance is around the price of 1,252.00. My advice is to watch for potential buying opportunities on the lows (buy on the dips). Anyway, if the price breaks the level of 1,228.00, we may see a possible testing of the level of 1,220.00 before any larger bullish reaction.


Daily Fibonacci pivot points :


Resistance levels :


R1: 1,241.86


R2: 1,251.53


R3: 1,257.16


Support levels :


S1: 1,226.56


S2: 1,220.93


S3: 1,211.26


Trading recommendations: Watch for potential buying opportunities after retracement (buy on the dips).




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

Technical analysis of EUR/USD for February 11, 2015

eurusdh1.png

Overview :



  • The market of the EUR/USD pair was not stable; and the trend was not also so clear. According to the previous events, the price has been still moving between the levels of 1.1379 and 1.1226. Thus, it is wise to be neutral at the level of weekly pivot point around the spot of 1.1379. Therefore, the first step is to wait for a period of tight sideway range market before breakouts. Then, it is likely that the market is going to start showing the signs of bullish market. In other words, it will be a good sign to buy above 1.1230 (weekly support 1) with a first target of 1.1325 and if the price breaks out this level, it will climb towards the price of 1.1366 (61.8% of Fibonacci retracement levels on the H1 chart). However, if the pair breaks 1.1264 and closure below it, the market will indicate a bearish opportunity below 1.1264. Then the support will be become a resistance, and it will be a good sign to sell below 1.1264 with a first target of 1.1226. It will also call for a downtrend in order to continue bearish movement towards 1.1200 (23.6% of Fibonacci retracement levels on the H1 chart) in order to create a new double bottom at this level.



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

GBP/USD intraday technical levels and trading recommendations for February 11, 2015

gbpusddaily.pnggbpush4.png


Overview:


The daily closure below the recent bottoms located around 1.5540-1.5560 rendered the previous consolidation range as a bearish flag pattern with the projection target at 1.5300.


The market has already pushed further below reaching down to 1.5030-1.4980 where the lower limit of the channel has been providing support for the pair over the past few weeks.


The H4 chart shows transition into a sideway movement with mild bearish tendency which has been maintained within the depicted price range.


Temporary bullish breakout took place last week above the upper limit of the short-term channel pattern (the price level of 1.5170).


Persistence above the key-support (the price zone of 1.5170-1.5200) is currently applying bullish pressure over the price zone of 1.5290-1.5360 (prominent Fibonacci levels and the upper limit of the depicted movement channel) where bearish rejection was applied on Friday.


A bearish engulfing daily candlestick was expressed at retesting of the upper limit of the daily channel on Friday. Hence, the GBP/USD pair went back to apply bearish pressure over the previously broken key-zone (1.5170-1.5200) where bullish SUPPORT has been offered since Yesterday.


The GBP/USD is now trapped between 1.5300 ( 50% Fibonacci) and 1.5200 (recent SUPPORT). A breakout in either direction is needed to decide the next destination of the pair.


Trading recommendations:


SELL entries can be taken around the price zone of 1.5300-1.5360 with SL located slightly above 1.5390.


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

USD/CAD intraday technical levels and trading recommendations for February 11, 2015

cadweekly.pngcaddailu.png


Overview:


The USD/CAD pair established the previous consolidation zone between the price levels of 1.1560 and 1.1670. This price zone roughly corresponds to 61.8% prominent WEEKLY Fibonacci level. Bullish breakout above it allowed bulls to reach new highs around 1.2770.


The USD/CAD bulls has been defending the recent INTRADAY SUPPORT around 1.2300 (broken 79.6% Fibonacci Level). Hence, a new bullish swing was established without further retesting of the DAILY SUPPORT zone depicted on the daily chart around 1.1950.


The market looked overbought since bulls have pushed further above the upper limit of both depicted bullish channels. Hence, the current bearish correction was anticipated in the previous articles.


The nearest SUPPORT level to meet the USD/CAD pair is located around 1.2300 (79.6% Fibonacci level). It has been defended by the bulls since a bullish breakout took place on January 21.


DAILY closure below the price level of 1.2300 exposes the next DAILY SUPPORT around 1.2000 where the backside of the upper limit of the breached channel is located.


On the other hand, bullish persistence above 1.2300 (79.6% Fibonacci level) enhances further bullish advancement towards 1.2760-1.2780.


Trading recommendations:


Wait for DAILY closure below 1.2300 for SHORTING the USD/CAD pair. TP levels should be set at 1.2250 and 1.2170.


Stop Loss should be set as DAILY closure again above the ENTRY levels (1.2300).


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

Intraday technical levels and trading recommendations for GBP/USD for February 11, 2015

gbpdaily.png


The previous consolidation movement extended between the price levels of 1.5550 and 1.5770. It represented a period of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.


Bearish breakout below 1.5550 directly exposed lower targets. Bears have already pushed towards the price levels of 1.5050 and 1.4960 which have not been visited since July 2013.


As mentioned in the previous articles, conservative traders should have been waiting for the current bullish pullback towards the recent SUPPLY zone around 1.5280-1.5320 for a low-risk SELL entry.


This SUPPLY zone also corresponds to the upper limit of the depicted daily channel where bearish pressure was anticipated on the last retesting that took place last week.


This bearish scenario was threatened on Thursday after the daily closure above the upper limit of the consolidation zone as well as the depicted channel around 1.5250.


Moreover, a bearish engulfing daily candlestick was expressed on Friday. This has pushed the GBP/USD pair again inside the channel.


gbpusdh4.png


On January 8, the GBP/USD pair has shown initial bullish recovery off the price level of 1.5050. Since then, the pair was trapped within the consolidation zone ranging between 1.4960 and 1.5230 until Thursday when the pair achieved daily closure above them.


The price level of 1.5280 corresponds to the upper limit of the depicted H4 channel as well as 50% Fibonacci level of the recent bearish swing that extended between 1.5600 and 1.4976.


The price zone of 1.5280-1.5320 will probably offer a low-risk SELL entry with Stop loss located above 1.5360 (61.8% Fibonacci level).


On the other hand, DAILY closure above 1.5340 invalidates the short-term bearish scenario exposing the price level of 1.5480 for retesting.


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

Intraday technical levels and trading recommendations for EUR/USD for February 11, 2015

eurmonth.png

The market has been pushing lower aggressively after breaking below the major DEMAND LEVELS around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010.


The pair has lost almost 800 pips since the beginning of 2015. Moreover, theoretical long-term bearish targets would be located near 0.9450, especially after the obvious MONTHLY closure of January took place below 1.2000.


During the past few weeks, the EUR/USD bears have been challenging historical lows that were established back in 2005 and 2003.


Some bullish recovery was finally witnessed by the end of January and the beginning of February.


1423657034_eurdaily.pngeurh4.png


On the daily chart the market looked oversold below the price levels of 1.2000 and 1.1900 (prominent psychological SUPPORT).


As it was suggested in the previous articles, conservative traders should be waiting for a bullish pullback looking for better prices to SELL the pair off (R1 at 1.1550 and R2 at 1.1700).


The price zone of 1.1540-1.1600 is a recently established SUPPLY zone. Short-term SELL positions can be taken there. Stop loss should be placed slightly above the price level of 1.1680.


On the other hand, another daily fixation below 1.1260, which is a recent DEMAND level depicted on the H4 chart, activates a DOUBLE-TOP reversal pattern exposing the recent lows around 1.1110 for retesting especially after the breakout took place below the depicted bullish channel on the H4 chart.


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

Technical analysis of GBP/CHF for February 11, 2015


Technical outlook and chart setups:


The GBP/CHF pair has hit the levels of 1.4199 today before pulling back sharply lower towards the levels of 1.4150 as seen here. A break below 1.4000 is required to confirm and to accelerate further downside. Aggressive trade setup would be to remain short for now with risk at 1.4230, while a conservative trade setup would be to enter short after prices break 1.4000. Immediate resistance is seen at the levels of 1.4200 (interim) followed by 1.4300 and higher, while support is seen at 1.4000 followed by 1.3850 and lower, respectively.


Trading recommendations:


Remain short for now; stop is at 1.4230, target is open.


Good luck!




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

Technical analysis of EUR/JPY for February 11, 2015.


Technical outlook and chart setups:


The EUR/JPY pair has finally broken above the levels of 135.00 clearly, as seen here. The pair has resumed rally towards the levels of 137.50/138.00 at least. Please note that Fibonacci 0.382 resistance is also seen at the levels of 137.92. It is recommended to remain long for now, risk remains around the levels of 132.50. Immediate support is seen around 135.00 (interim) followed by 132.50, 130.00 and lower, while resistance is seen at the levels of 137.50/138.00 followed by 142.00 and higher, respectively. The pair is in the first wave of a potential 3 waves rally.


Trading recommendations:


Remain long for now; stop is at 132.50, target is 138.00.


Good luck!




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

Technical analysis of Silver for February 11, 2015


Technical outlook and chart setups:


Silver remains unchanged from yesterday and is seen to be trading around the levels of $17.05/10 for now. The metal is poised to resume its uptrend after having bounced off $16.50 earlier. Therefore, it is recommended to remain long and also look to add further at the current levels. A push through the levels of $17.20 would also break the counter trend (resistance) line and confirm resumption of the uptrend. Immediate support is seen at $16.50 followed by $16.20, $15.50 and lower, while resistance is seen at $17.40/50 followed by $18.40, $18.90 and higher, respectively. Bulls would remain in control untill prices are above $16.50 for now.


Trading recommendations:


Remain long; stop is at $16.00, target is open.


Good luck!




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

Technical analysis of Gold for February 11, 2015


Technical outlook and chart setups:


Gold looks to resume rally after bouncing off from the levels of $1,230.00 yesterday. The metal could still drop towards the levels of $1,221.00 before rallying again. Please note that the Fibonacci 0.618 support is also falling at $1,221.00 and it remains a good buy if prices manage to reach there. Therefore, it is recommended to remain long for now and also to look to add lower for an extended rally towards the levels of $1,340.00. Immediate support is seen at $1,221.00 levels followed by $1,205.00 and lower, while resistance is seen at $1,285.00 followed by $1,307.00 and higher, respectively. Bulls should be poised to resume rally from here.


Trading recommendations:


Remain long; stop is at $1,170.00; target is open.


Good luck!




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

#USDX technical analysis for February 11, 2015

The dollar index continues its sideways movement. The index is preparing for its next upward move that, I expect, will reach 95.90 at least in the short term. My longer-term target remains at 100.


usdx.jpg

Green line = resistance broken


Black lines = trading range


The Dollar index is above the Ichimoku cloud on our 4-hour chart as shown above. This is a bullish signal. The price has broken above the green trend line resistance and is now consolidating inside a tight short-term trading range between 94.90 and 94.30.


usdxd.jpg

The longer-term trend remains bullish. The price is supported and the dollar remains very strong. The corrections we observe are mostly sideways and there is no strong pullbacks. This confirms the strength of the trend. At 96 we have a strong resistance that, if broken, will give me a buy signal with target of 100. At 96 we find the 50% retracement of the decline from the 2002 highs at 120 to the lows at 70.50 from 2007.




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

Gold technical analysis for February 11, 2015

Gold price continues to move sideways below the resistance at $1,245 and above the support at $1,228. I believe that soon this sideways move will end and prices will fall further towards the 61.8% retracement at $1,220 or even towards $1,200.


goldh4.jpg

Green lines = bearish flag


Black line = resistance


Gold is moving sideways between the two green lines that form the flag in this bearish flag pattern. Its bearish flag pattern is slightly different form the one I posted in previous analysis. The price is below the black trend line resistance and below the Ichimoku cloud. As long as we are below the cloud, I remain bearish.


goldd.jpg

Nothing new on the daily chart as well. The price is below the tenkan-sen and the kijun-sen, which are now very close to giving a bearish cross sell signal with minimum target of the cloud at $1,200. I believe that the downward move is not over and we will at least see a push towards $1,220.




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

Technical analysis of USD/CAD for Febuary 11, 2015

General overview for 11/02/2014 09:30 CET


The triangle pattern has been invalidated as the market violated the upper triangle line and went straight up to hit 61% Fibonacci of the last swing retrenchment. Currently this supply zone between the levels of 1.2626 - 1.2642 is the key area for bears, as any breakout higher is very bullish. On the other hand, please notice that the overall corrective cycle is getting rather complex now and choppy trading conditions should be expected.


Support/Resistance:


1.2797 - Swing High


1.2732 - WR1


1.2642 - Intraday Resistance


1.2626 - 1.2642 - Supply Zone


1.2567 - Intraday Support


1.2543 - Weekly Pivot


1.2350 - Technical Support|Key Level|


1.2314 - WS1


1.2122 - WS2


Trading recommendations:


Daytraders should consider opening sell orders from the current price levels with SL above the level of 1.2642. Any breakout above this level is bullish and the nearest target would be at the level of 1.2732.


usdcad_h1.jpg




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

Technical analysis of EUR/JPY for Febuary 11, 2015

General overview for 11/02/2014 08:30 CET


The important resistance level has been violated yesterday and the alternate impulsive scenario has been invalidated. The market is consolidating just under the intraday resistance at the level of 135.46 and it looks like this level will be broken sooner or later to test the weekly pivot levels. Moreover, the projected resistance is at the level of 137.63 and it corresponds to the upper boundary of the golden channel. This level might be a very likely zone for a potential reversal and downtrend continuation.


Support/Resistance:


137.63 - Technical Resistance


137.27 - WR2


136.15 - WR1


135.46 - Intraday Resistance


134.21 - Weekly Pivot


Trading recommendations:


Sell order from yesterday hit the SL, so currently only buy orders should be opened if the level of 135.46 is violated. TP ais t the level of 137.63, SL is below the level of 134.55.


eurjpy_h1.jpgThe material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of major pairs for February 11, 2015

EUR/USD: This pair has consolidated this week so far. There has not been any sustained directional movement, but it is more probable that when momentum returns to the market and it makes a breakout, the support lines at 1.1250 and 1.1200 would be tested. The price should be close below those support lines, in solidarity with the existing bearish bias. Otherwise, there could be a rally in the market.


1.png

USD/CHF: The outlook on the USD/CHF pair is bullish, but this is currently a choppy market. The currency trading instrument would go up when the EUR/USD pair goes down (or the other way round, when the EUR/USD pair goes up). As it is said, counter-trend pullbacks in the market would simple offer opportunities to buy at better prices.


2.png

GBP/USD: The ‘buy’ signal on the Cable is still a valid thing. There is a Bullish Confirmation Pattern in the market and the price may test the distribution territories at 1.5300 and 1.5350 again. These are the territories that were challenged last week.


3.png

USD/JPY: This market went up yesterday, closing above the demand level at 119.00 and challenging the supply level at 119.50. With more buying pressure in the market, the price would close above the supply level at 119.50, while targeting another supply level at 120.00.


4.png

EUR/JPY: Like most other JPY pairs, this cross is also trying to go upwards. The EMA 11 is above the EMA 56 (and the price is above them). The RSI period 14 is slightly above the level of 50. The market may journey further upwards from here, reaching the supply zone at 136.00.


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

Elliott wave analysis of EUR/NZD for February 11 - 2015

2015-02-11-EURNZD-4H.png

Technical summary:


We are still looking for wave (ii) to bottom in the 1.5166 - 1.5244 area, so wave (iii) higher can take over. Once wave (iii) higher is confirmed, we should be looking for a rally towards at least 1.6668, where wave (iii) will be 161.8% the length of wave (i). In the short term, we need a break above minor resistance at 1.5321 and more importantly a break above resistance at 1.5409 to confirm that wave (iii) higher is developing.


Trading recommendations:


We are long EUR from 1.5255 with stop place at 1.5155.


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

Technical analysis of USD/JPY for February 11, 2015

USDJPYM30.png

Fundamental overview:
USD/JPY is expected to consolidate with a bullish bias after hitting a month high at 119.62 on Tuesday. Liquidity is thin in Asia on Wednesday as financial markets in Japan are shut for a public holiday. USD/JPY is underpinned by the reduced safe-haven appeal of the yen and yen-funded carry trades as the global risk sentiment improves (VIX fear gauge eased 7.12% to 17.23; S&P 500 rose 1.07% to close at 2,068.59 overnight) on increasing hopes for a compromise between Greece's new government and its international creditors. USD/JPY is also supported by the higher U.S. Treasury yields (10-year at 2.000% versus 1.948% late Monday) and the positive dollar sentiment (ICE spot dollar index last 94.73 versus 94.51 early Tuesday) on more-than-expected 5.028 million U.S. December job openings (versus forecast 4.99 million) and sell-yen orders from Japan's importers; ultra-loose Bank of Japan's monetary policy. But USD sentiment is dented by the surprise drop in U.S. NFIB index of small business optimism to 97.9 in January from 100.4 in December (versus forecast for rise to 101.0) and smaller-than-expected 0.1% rise in U.S. December wholesale inventories (versus forecast +0.3%) and drop in U.S. IBD/TIPP economic optimism index to 47.5 in February from 51.5 in January. USD/JPY gains are also tempered by the buy-yen orders from Japan's exporters.


Technical comment:
The daily chart is positive-biased as MACD and stochastics are bullish, a five-day moving average is above a 15-day moving average and is 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 120.20 and the second target at 120.75. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 118.30. A break of this target would push the pair further downwards, and one may expect the second target at 118. The pivot point is at 118.80.


Resistance levels:

120.20

120.70

130

Support levels:

118.30

118

117.65


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

Elliott wave analysis of EUR/JPY for February 11 - 2015

2015-02-11-EURJPY-4H.png

Technical summary:


With the break above 135.36, we know that the correction from 130.14 has turned into a double zig-zag combination calling for a move higher towards 137.65 where wave y will be equal in length to wave w. In the short term, we will be looking for support in the 134.66 - 134.85 area for the next rally higher towards 137.65. Only a break below support at 133.64 indicates that the correction from 130.14 is over and the downside pressure has returned.


Trading recommendations:


Our stop at 135.40. We will look for a new EUR-selling opportunity at 137.55.


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

Technical analysis of USD/CHF for February 11, 2015

USDCHFM30.png

Fundamental overview:
USD/CHF is expected to trade with risks skewed higher. It is supported by the positive dollar sentiment and negative Swiss interest rates and threat of SNB CHF-selling intervention. But CHF sentiment is boosted by less-than-expected 0.5% on-year drop in Switzerland January CPI (versus forecast -0.7% on-year). USD/CHF gains are also tempered by the franc demand on soft CAD/CHF cross.


Technical comment:
The daily chart is positive-biased as MACD and stochastics are bullish, although the latter is at overbought levels.


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 0.9310 and the second target at 0.9365. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9160. A break of this target would push the pair further downwards, and one may expect the second target at 0.9115. The pivot point is at 0.9205.


Resistance levels:
0.9310

0.9365

0.9435


Support levels:

0.9160

0.9075

0.8985


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

Technical analysis of NZD/USD for February 11, 2015

NZDUSDM30.png

Fundamental overview:
NZD/USD is expected to consolidate with a bearish bias. It is undermined by the positive dollar sentiment and weak sentiment surrounding commodity-linked currencies as oil prices tumble. But NZD/USD downside move is limited by the Kiwi demand on buoyant NZD/JPY cross amid reduced risk aversion and Kiwi demand on soft AUD/NZD cross, on buoyant NZD/CAD cross, and NZD-USD interest differential.


Technical comment:

The daily chart is still positive-biased as MACD and stochastics are in a bullish mode, a five-day moving average is rising above a 15-day moving average.


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 0.7455 and the second target at 0.75. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.7325. A break of this target would push the pair further downwards, and one may expect the second target at 0.7280. The pivot point is at 0.7365.


Resistance levels:

0.7455

0.75

0.7530



Support levels:


0.7325

0.7280

0.7220


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

Technical analysis of GBP/JPY for Feburary 11, 2015

GBPJPYM30.png

Fundamental overview:
GBP/JPY is expected to trade in a higher range. It is supported by the diminished risk aversion and improving euro sentiment as worries about Greece recede. GBP sentiment is dented by surprise 0.2% on-month drop in U.K. December industrial production (versus forecast +0.1%).


Technical comment:
The daily chart is positive-biased as MACD and stochastics are bullish, five-day moving average rising above a 15-day moving average.


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 183.40 and the second target at 184.30. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 180.10. A break of this target would push the pair further downwards, and one may expect the second target at 179.20. The pivot point is at 180.90.


Resistance levels:

183.40

184.30

185


Support levels:

180.10

179.20

178.15


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

Technical analysis and trading recommendations on Gold for February 11, 2015

The yellow metal again ended lower at the previous session amid the strong US dollar. Today, the focus has shifted to the Eurogroup meeting. In the recent days, the yellow metal lost its momentum following the strong US economic data and weaker Chinese data. The same repeated again at the previous session. The stronger US data gives hope that the US Federal Reserve will raise the interest rates earlier than later. The metal has been taken support between $1,230.00 and $1,228.00. We recommend fresh selling below $1,228.00 with the targets at $1,225.00 and $1,217.00. If a daily close is below $1,217.00, bears can challenge $1,207.00, $1,204.00, and $1,199.00. The weekly key support level exists at $1,216.00. Until the prices close and the metal trades below $1,266.00, use every rise to sell. Intraday resistance is set at 1252.00. In case, if the prices manage to breach above 1252.00, bulls can challenge 1255.00, 1264.00, and 1266.00.


Resistance: $1,240.00 $1,246.00, $1,252.00.


Support: $1,228.00 $1220.00, $1,217.00.


Selling below $1,228.00.


Buying above $1,240.00, strong momentum is above $1,252.00.


Risky traders can try with sl $1,230.00.


1423622374_GOLDH4.pngThe material has been provided by InstaForex Company - www.instaforex.com

Forecast and trading recommendations on Gold for February 11, 2015

The yellow metal again ended lower at the previous session amid the strong US dollar. Today, the focus has shifted to the Euro group meeting. In the recent days, the precious metal lost its momentum following the strong US economic data and weaker Chinese data. The same repeated again at the previous session. The stronger US data goves hope that the US Federal Reserve will raise the interest rates earlier than later. The metal has been taken support between $1,230.00 and $1,228.00. We recommend fresh selling below $1,228.00 with the targets at $1,225.00 and $1,217.00. If a daily close is below $1,217.00, bears can challenge $1,207.00, $1,204.00, and $1,199.00. The weekly key support level exists at $1,216.00. Until the prices close and the metal trades below $1,266.00, use every rise to sell. Intraday resistance exists at 1252.00. In case if the prices manage to breach above 1252.00, bulls can challenge 1255.00, 1264.00, and 1266.00.


Resistance: $1,240.00, $1,246.00, $1,252.00.


Support: $1,228.00, $1220.00, $1,217.00.


Selling below $1,228.00.


Buying above $1,240.00, strong momentum above $1,252.00.


Risky traders can try with sl $1,230.00.


GOLDH4.pngThe material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/USD for February 11, 2015

!EURUSD.jpg






When the European market opens, no economic news are due today. However, when the US market starts they will release some economic reports such as the Federal Budget Balance, 10-y Bond Auction, and Crude Oil Inventories. So, amid the reports, EUR/USD will move with low to medium volatility during this day.


TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1377.

Strong Resistance:1.1370.

Original Resistance: 1.1359.

Inner Sell Area: 1.1348.

Target Inner Area: 1.1321.

Inner Buy Area: 1.1294.

Original Support: 1.1283.

Strong Support: 1.1272.

Breakout SELL Level: 1.1265.





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 USD/JPY for February 11, 2015

!USDJPY.jpg



In Asia, Japan will not release any economic data. However, the US will release some economic reports such as Federal Budget Balance, 10-y Bond Auction, and Crude Oil Inventories. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.


TODAY TECHNICAL LEVELS:

Resistance. 3: 120.10.

Resistance. 2: 119.86.

Resistance. 1: 119.63.

Support. 1: 119.35.

Support. 2: 119.11.

Support. 3: 118.88.





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

Daily analysis of USDX for February 11, 2015

The USDX had a bullish day during the session on Tuesday and we could expect a rally towards the resistance level of 95.45 in the near term. Besides, bear in mind the fact that the 200 SMA is still pointing upwards and the USDX continues to form a bullish pattern. It shows a good performance of this instrument in the bullish bias.


USDXDaily.png

On the H1 chart, the USDX is battling with the resistance level of 94.87, which currently is getting stronger. However, the 200 SMA on this time frame is still bullish. If the USDX makes a breakout in that zone, it would be expected to rise until the level of 95.16. For now, be cautious, as the MACD indicator is still showing negative levels.


USDXH1.png

Daily chart's resistance levels: 95.45 / 96.78


Dailychart's support levels: 94.18 / 93.02


H1 chart's resistance levels: 94.87 / 95.16


H1 chart's support levels: 94.38 / 93.94




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 94.87, take profit is at 95.16, and stop loss is at 94.58.


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

Daily analysis of GBP/USD for February 11, 2015

The corrective moves on the GBP/USD pair are still on the way, as the pair is trying to perform a bullish consolidation above the level of 1.5247. Now, we're watching a higher high pattern formation of the GBP/USD pair on the daily chart. We expect a rise until the resistance level of 1.5491, when the pair finishes developing that pattern.


GBPUSDDaily.png

The range established between the levels of 1.5249 and 1.5210 continues to be respected by the GBP/USD pair on the H1 chart, because the pair found strong support in the zone of 1.5210. However, later the pair was rejected from the level of 1.5249. By the way, it seems that bulls could take the ride on the GBP/USD pair in an intraday outlook. The MACD indicator is still on the positive territory.


GBPUSDH1.png

Daily chart's resistance levels: 1.5247 / 1.5491


Dailychart's support levels: 1.5025 / 1.4841


H1 chart's resistance levels: 1.5249 / 1.5302


H1 chart's support levels: 1.5210 / 1.5166




Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5249, take profit is at 1.5302, and stop loss is at 1.5196.


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

Daily analysis of GBP/JPY for February 10, 2015

GBPJPY_10-2.png

Overview


Proceeding from the today's H4 chart, the pair is still trading between the support level of 181.00 and the resistance level of 182.00 and currently the pair fails again to break the resistance level. If the pair breaks it to take an upward movement, it may continue its bullish trend and we will get a good opportunity to buy again above the resistance level of 182.00 untill closing H4 below the resistance level of 182.50 as a level target. Then we have to wait for breaking this resistance level to continue the upward move and open the way towards the resistance level of 183.00. On the other hand, if the pair failed to break the resistance level of 182.00 and bounces from it, it may take a downward trend, which will enable the support level of 181.00 again. Therefore, we suggest waiting for the next closing before making a decision.


Resistance and support levels: R3 (183.00), R2 (182.50), R1 (182.00), S1 (181.00), S2 (180.50), S3(180.00)




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

Daily analysis of Silver for February 10, 2015

SILVER_10-2.png

Overview


According to our yesterday's expections, the price's close below the resistance level of 17.00 would give new opportunities for sell signals. As shown on the H4 chart, the metal has failed to break the resistance level of 17.00 and has bounced from it. Currently, the metal is trying to break the support level of 16.75 and is approaching it to continue its bearish move. On the other hand, the metal's rebound from the support level of 16.75 cancels the bearish scenario.


Resistance and support levels: R3 (17.70), R2 (17.50), R1 (17.00), S1 (16.75), S2 (16.50), S1(16.20).




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

Technical analysis of EUR/JPY for February 10, 2015


Technical outlook and chart setups:


The EUR/JPY pair might be preparing to break higher, above the handle of 135.00 now. The pair has been facing resistance for some time at the levels of 135.00; and a break higher could raise the pair quickly into the region of 137.50/138.00. Therefore, it is recommended to hold long positions taken earlier and to look to add fresh ones above 135.00/30 as well, risk remains at 132.50 for now. Immediate support is also seen at 132.50 followed by 130.00 and lower, while resistance is seen at 137.50/138.50 followed by 142.00 and higher, respectively.


Trading recommendations:


Remain long for now; stop is at 132.00, target is open.


Good luck!




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