GBP/USD intraday technical levels and trading recommendations for April 2, 2015

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Overview:


On February 5, temporary bullish breakout above 1.5220 (previous consolidation range) took place. Shortly after, an ascending channel was established at the levels of 1.5170-1.5200. This indicates bullish sentiment on the market.


A projected target for this bullish breakout has already been reached around 1.5550 where the previous daily bottoms were located (solid resistance).


Two weeks ago, the bearish breakdown of lower limit of the depicted channel occurred enhancing the bearish side of the market and confirming the Flag pattern as bearish.


Significant bearish pressure was applied at the price of 1.5200 (R2), then 1.4950 (R1 = broken weekly bottom).


Bearish persistence below 1.4950-1.5000 indicated a further bearish decline. Initial projection target for this bearish breakout was located at 1.4700.


Recently, GBP/USD bulls managed to defend the recent bottom at 1.4700. Evident bullish rejection was expressed around 1.4630 resulting in the formation of a bullish head and shoulders reversal pattern.


Fixation above 1.4980-1.5000 (neck-line) is likely to extend the pattern's projection target towards 1.5200.


Otherwise, the GBP/USD pair remains in the long-term downtrend as depicted on both the daily and weekly charts. If so, bearish breakdown of 1.4700 is needed to resume this bearish scenario.


Trading recommendations:


Conservative traders should wait for bullish momentum to emerge and H4 closure above 1.5000 to occur for a short-term buy entry.


TP levels should be set at 1.5080, 1.5120, and finally at 1.5200.


SL should be set as daily closure below 1.4900.


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USD/CAD intraday technical levels and trading recommendations for April 2, 2015

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Overview:


Since bulls have pushed further above the upper limit of both depicted bullish channels and the 79.6% Fibonacci level the market looks quite overbought.


However, bullish pressure is still expressed as the previous weekly closure came above 1.2550 (consolidation zone mid-line).


Successive lower highs were established within the wedge pattern. However, the market expressed a bullish breakout above 1.2550-1.2600 shortly after.


The market failed to hold above 1.2650 - 1.2680 (previous highs) resulting in the formation of a double-top pattern that calls for confirmation (daily closure below 1.2350).


On the other hand, the support level around 1.2350 (lower limit of the wedge pattern) and 1.2300 (79.6% Fibonacci level) have been providing support for successive weeks on the daily chart.


In the long term, a projected target for USD/CAD wedge pattern would be located near the level of 1.3050 (the origin of the last bearish swing initiated on March 2009).


The current weekly candlestick indicates bearish rejection at retesting of the weekly resistance at 1.3000 (consolidation zone upper limit).


Weekly closure below the price level of 1.2550 (Intraday support level) indicates quick bearish decline again towards 1.2350 (significant Fibonacci level as well as the lower limit of the wedge pattern),


Trading recommendations:


Daily closure below the price level of 1.2550 probably offers a valid SELL entry with T/P at 1.2350. S/L should be set as reclosure again above 1.2560.


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Intraday technical levels and trading recommendations for EUR/USD for April 2, 2015

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The market was aggressively pushed lower after breaking below major demand levels around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010.


The EUR/USD pair has lost almost 1600 pips since the beginning of 2015. Moreover, EUR/USD bears have already pushed slightly below the monthly demand level around 1.0550 (established on January 1997) where some bullish recovery was applied for retesting.


The recent monthly closure remains negative for the EUR/USD pair.


Bearish breakdown of the monthly demand level at 1.0550 should be anticipated as theoretical long-term targets are projected around 0.9450.


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Obvious bearish breakdown of the weekly demand level at 1.1100 enhanced the bearish side of the market exposing lower targets.


Full projection targets for the Flag pattern were successfully reached around 1.0800 and 1.0500.


As anticipated, after such a long bearish rally (which started off 1.1300) bullish rejection was around 1.0570 (monthly demand level).


Daily persistence above the price zone of 1.0850-1.0860 (recent demand zone) is mandatory to maintain the bullish corrective movement towards 1.1100 where a long-term sell position can be offered.


On the other hand, daily closure below 1.0850 (took place on Monday) invalidates the bullish correction, bringing the EUR/USD pair back towards 1.0650-1.0600 (weekly low).


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Intraday technical levels and trading recommendations for GBP/USD for April 2, 2015

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The market has previously established a consolidation zone around 1.5000, which extended up to 1.5280. This was followed by a transient uptrend maintained within the depicted channel.


Bulls managed to push towards higher levels, including 1.5550 (just below the weekly supply level).


Significant bearish pressure was applied around 1.5550 resulting in the formation of multiple bearish engulfing daily candlesticks.


Demand levels located around 1.5200 and 1.5000 failed to provide enough support for the GBP/USD pair. This was followed by a bearish decline towards 1.4700.


Last week, strong bullish rejection was expressed around 1.4700 (weekly low). A significant bullish weekly candlestick was expressed by the end of the week.


The price zone around 1.4960-1.5000 was expected to provide supply at retesting as it corresponds to the upper limit of the long-term depicted channel, 38.2% Fibonacci level and a broken weekly demand, which goes back to January 2015.


Transient sideway movement with slight bearish tendency is being expressed on the daily chart.


Note that daily persistence above the price level of 1.5090 (50% Fibonacci level) confirms the bullish flag pattern. Estimated targets are projected towards 1.5150 then 1.5380.


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Recently, GBP/USD bulls failed to defend their demand zone around 1.4960-1.5000, which was breached two weeks ago.


Evident bullish recovery was manifested on the H4 chart near the price levels at 1.4700 (weekly low).


Fixation above 1.4700-1.4720 enhanced a bullish side of the market allowing another bullish swing towards 1.4990 to take place.


Recently, the GBP/USD pair failed to trade above the price level of 1.4970 as a flag pattern has been expressed since the price levels of 1.4970-1.5000 were visited.


Conservative traders should note that the GBP/USD pair remains trapped between 1.4700 and 1.4970 until a breakout occurs in either direction (the current consolidation range was anticipated in the previous articles).


However, a quick bearish pull back towards the price level of 1.4720 (daily demand level) may be considered for a counter-trend buy entry. Stop loss should be located below 1.4625.


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Technical analysis of USD/CHF for April 02, 2015

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Fundamental overview:
USD/CHF is expected to trade in lower range. Swissie sentiment is boosted by the stronger-than-expected Switzerland March PMI of 47.9 (versus forecast 47.2). USD/CHF also weighed by negative dollar sentiment ICE spot dollar index last 98.12 versus 98.40 early Wednesday) on fewer-than-expected 189,000 increase in ADP March US private sector jobs (versus forecast +225,000), worse-than-expected drop in the US ISM manufacturing PMI to 51.5 in March from 52.9 in February (versus forecast 52.5). But USD/CHF losses are tempered by the negative Swiss interest rates and threat of the Swiss National bank CHF-selling intervention.


Technical comment:
The daily chart is mixed as the MACD bearish, but stochastics is in bullish mode.


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 the pivot point. Short positions are recommended with the first target at 0.9525. A break of that target will move the pair further downwards to 0.9490. The pivot point stands at 0.9635. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.9705 and the second target at 0.9765.


Resistance levels:

0.9705

0.9765

0.9810


Support levels:

0.9525

0.9490

0.9435


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Technical analysis of USD/JPY for April 02, 2015

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Fundamental Outlook:
USD/JPY is expected to trade with bearish bias. It is undermined by negative dollar sentiment (ICE spot dollar index last 98.12 versus 98.40 early Wednesday) on fewer-than-expected 189,000 increase in ADP March US private sector jobs (versus forecast +225,000), worse-than-expected drop in the US ISM manufacturing PMI to 51.5 in March from 52.9 in February (versus forecast 52.5). USD/JPY is also weighed by lower US Treasury yields (10-year at 1.859% versus 1.934% late Tuesday), Japan exporter sales, and selling of the yen crosses amid decreased investor risk appetite (S&P 500 closed 0.40% lower at 2,059.4 overnight) on the weak ADP US March private sector jobs growth, ISM manufacturing activity data, and caution ahead of Friday's critical US March non-farm payrolls report. But USD/JPY losses are tempered by the demand from Japan importers and ultra-loose Bank of Japan's monetary policy.


Technical comment:
Daily chart is mixed as The MACD is bearish but stochastics is neutral.


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 the pivot point. Short positions are recommended with the first target at 119.25. A break of that target will move the pair further downwards to 118.85. The pivot point stands at 120. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 120.30 and the second target at 120.55.


Resistance levels:

120.30

120.55

120.85


Support levels:

119.25

118.85

118.30


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Technical analysis of NZD/USD for April 02, 2015

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Fundamental overview:
NZD/USD is expected to consolidate with bearish bias after hitting a two-week low of 0.7390 on Wednesday. NZD sentiment is dented by the 10.8% decrease in Fonterra's GDT Price Index and 13.3% drop in an average price for whole milk powder to $2,538/mt at the latest Global Dairy Trade auction. NZD/USD is also weighed by the kiwi sales on soft NZD/JPY cross amid subdued investor risk appetite. But NZD/USD losses are tempered by negative dollar sentiment.


Technical comment:

The daily chart is tilting negative as stochastics is falling from overbought levels, the MACD histogram bars are turning negative, a five-day moving average falling below a 15-day moving average, and bearish parabolic stop-and-reverse signal was produced 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 the pivot point. Short positions are recommended with the first target at 0.7425. A break of that target will move the pair further downwards to 0.7390. The pivot point stands at 0.7500. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 0.7545 and the second target at 0.76.


Resistance levels:

0.7545

0.76

0.7645

Support levels:

0.7425

0.7390

0.7370


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Technical analysis of GBP/JPY for April 02, 2015

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Fundamental overview:
GBP/JPY is expected to consolidate with bullish bias. It is undermined by the decreased investor risk appetite and Japan exporter sales. But GBP/JPY losses are tempered by the demand from Japan importers. Sterling sentiment is boosted by the stronger-than-expected UK March CIPS / Markit manufacturing PMI of 54.4 (versus forecast 54.3).


Technical comment:

Daily chart is mixed as stochastics is bearish, a five-day moving average is below a 15-day moving average and is declining but the MACD is in a bullish 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 177.75 and the second target at 178.30. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 176.45. A break of this target would push the pair further downwards, and one may expect the second target at 176. The pivot point is at 176.80.


Resistance levels:

177.75

178.40

179.30

Support levels:
176.45

176

175.45


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Technical analysis of EUR/JPY for April 02, 2015


Technical outlook and chart setups:


The EUR/JPY pair is seen to be trading between channel resistance and past resistance turned into support line at the moment. The pair is facing channel resistance around the levels of 129.45 and could possibly turn lower again. It is hence recommended to fix profits on the long position initiated yesterday. Immediate support is seen at the levels of 128.00 followed by 127.00 and lower, while resistance is seen at the levels of 130.40/50 followed by 131.40/50 and higher, respectively. The pair needs to break out of the channel resistance line clearly to confirm that bulls are back in control again.


Trading recommendations:


Fix profits on long positions and remain flat for now.


Good luck!


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Technical analysis of GBP/CHF for April 02, 2015


Technical outlook and chart setups:


The GBP/CHF pair has dropped lower as discussed and expected yesterday. The pair is testing the levels of 1.4200 and is preparing to bounce back (resume rally) on the hourly time frame. It is hence recommended again to initiate long positions at the current levels (1.4230) with risk around 1.4180. Bulls may be poised to take control from here on and push prices higher towards at least 1.4600. Immediate support is seen at 1.4200/1.4190 followed by 1.4000 and lower, while resistance is seen at 1.4400 (interim) followed by 1.4630, 1.4800 and higher, respectively.


Trading recommendations:


Initiate long positions now (1.4230). Stop is at 1.4170/80, target is open.


Good luck!


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Technical analysis of Silver for April 02, 2015


Technical outlook and chart setups:


Silver is trading at the levels of $16.83 for now and could be preparing to drop lower from here before rallying further. It is recommended to initiate short positions at the current levels ($16.80/85) with risk at $17.40. The metal had bounced earlier from the levels of $16.45 and pushed higher through $17.09 yesterday. The current chart setup favors bears to take control and push prices lower to the levels of $16.00 before rally could resume. Please note that the metal could be just in a counter trend towards the levels of $16.00. Immediate support is seen at $15.80 followed by $15.30 and lower, while resistance is seen at $17.40/50 followed by $18.40/50 and higher, respectively.


Trading recommendations:


Initiate short positions now. Stop is at $17.40, target is $16.10.


Good luck!


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Technical analysis of Gold for April 02, 2015


Technical outlook and chart setups:


Gold is seen to be trading at the levels of $1,204.00 for now, after hitting $1,209.00 earlier. The metal is expected to pull back lower from the current levels before the rally resumes. It is recommended to take profits from the long positions initiated earlier. Now aggressive trade setup is to initiate short positions with risk above the levels of $1,220.00. Bears might take control from here for a while before bulls are back again. Immediate interim support is seen at $1,778.00 followed by $1,162.00 and lower while resistance is seen at the levels of $1,223.00, respectively.


Trading recommendations:


Take profit from long positions. Initiate 50% short positions now. Stop is at $1,220.00, target is $1,165.00.


Good luck!


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Technical analysis of EUR/USD for April 2, 2015

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Overview :



  • The EUR/USD pair has already formed a strong resistance level at 1.0871. Moreover, this price coincides with the ratio of 50% Fibonacci retracement levels on the H1 chart. Additionally, after it failed to close above 1.0902 (the weekly pivot point sets at the price of 1.0902) last week, the pair started signaling for the bearish market at this spot. It should be noted that the price has been still moving between 1.0871 and 1.0770. So, we expect a range of 100 pips. Therefore, the pair will have a rather convincing downside momentum. The structure of the fall does not look corrective. In order to indicate a bearish opportunity below 1.0871, it will be a good idea to sell below this area with the first target of 1.0805 to test the double bottom (50% Fibonacci retracement levels). Its chart will call for a downtrend in order to continue bearish move towards 1.0760.


Trading recommendations :



  • The key level of 1.0902 represents a downtrend to confirm the bearish market. This level will act as a strong resistance because it coincides with the weekly pivot point on the second day of April, 2015. Therefore, sell deals are recommended below the level of 1.0902 with targets at the level of 1.0800, and it will resume towards 1.0760 to try testing the support.


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Technical analysis of GBP/USD for April 2, 2015

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Overview :



  • The market of GBP/USD pair has been in a downtrend for several weeks and started dropping form the level of 1.4850 yesterday. Also, it should be noted that the price of the GBP/USD pair opened below the weekly pivot point at the level of 1.4835. Additionally, the double top sets at 1.4855 in the H1 chart. Therefore, the market will probably indicate a bearish opportunity at the level of 1.4855/1.4835 in the short term. According to the previous events, the price is going to move between the levels of 1.4850 and 1.4742. The level of 1.4739 is going to represent the double bottom and strong support is likely to be set at 1.4740. Therefore, the area below 1.4740 looks for further downside with the first target at 1.4939 (the double bottom) and continue towards 1.4634 in order to test weekly support on the same chart. However, the stop loss should be placed at 1.4885.


Intraday technical level :


Date: 2/4/2015


Pair: GBP/USD



  • Projected high: 1.4885

  • Breakout (buy stop): 1.4853

  • Strong resistance (sell limit): 1.4840

  • Current pivot: 1.4800

  • Strong support (buy limit): 1.4742

  • Breakout (sell Stop): 1.4733

  • Projected low: 1.4634


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Daily analysis of USDX for April 02, 2015

We're waiting for a pullback of this instrument in the daily chart and the USDX could fall to the support level of 96.60 now, because the retracement could have an extension up to thit zone. Anyway, bulls are still strong and we should be prepared for a breakout to the upside at the resistance level of 98.01. The 200 SMA is still bullish.


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The USDX had a bearish session on Wednesday, because it did a pullback at the resistance level of 98.36 and now is trading below the 200 SMA in the H1 chart. Anyway, we should consider this move as a corrective one but no a trend-change pattern, because we're still watching an alive bullish momentum in the overall bias.


USDXH1.png




Daily chart's resistance levels: 98.01 / 99.12


Dailychart's support levels: 96.60 / 95.19


H1 chart's resistance levels: 97.90 / 98.36


H1 chart's support levels: 97.70 / 97.50






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 97.90, take profit is at 98.36, and stop loss is at 97.44.


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Daily analysis of GBP/USD for April 02, 2015

The GBP/USD pair is currently showing sideways movement in the daily chart, because the pair is trying to stay below the resistance level of 1.4820. Now, the GBP/USD pair is likely to try to fall towards the support zone around 1.4820. Bears continue to dominate the overall trend in this pair, so it would be better to wait for bearish formations in lower time frames.


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Now, the pair is looking for dynamic resistance at 200 SMA on the H1 chart, where it performed a pullback towards the support level of 1.4774. We remain with the idea of a bearish breakout in that area, for a fall towards the level of 1.4721. This bias could change when the GBP/USD consolidates above the 200 SMA.


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Daily chart's resistance levels: 1.4820 / 1.4948


Dailychart's support levels: 1.4649 / 1.4505


H1 chart's resistance levels: 1.4842 / 1.4921


H1 chart's support levels: 1.4774 / 1.4721






Trading recommendations for today: Based on the H1 chart, place short (sell) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4774, take profit is at 1.4721, and stop loss is at 1.4825.


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#USDX technical analysis for April 2, 2015

The Dollar index continues to slide lower and is in a neutral short-term trend now. Long-term trend remains bullish as long as the price is above 96. We get a new buy signal above 98.66 that could push the index to its recent highs.


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The Dollar index is back inside the Ichimoku cloud in the H4 chart and this means that there is no clear trend and we are in a neutral trend. Support is at 97 and resistance is at 98.66. Short-term resistance is at 98.30. If it gets broken, we would get the first short-term reversal sign. On the other hand, a break below 97 is going to be a bearish signal that could put recent lows to the test.


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The weekly chart remains inside the upward sloping channel. The long-term trend remains bullish. Weekly chart remains above tenkan-sen. This weeks high is important resistance for bulls that must break immediate continuation of the uptrend.


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Technical analysis of EUR/JPY for April 2, 2015

General overview for 02/04/2015 09:40 CET


The anticipated last sub-wave down was made, but it was rather short-lived and did not reach the indicated target level. Nevertheless, there are two Elliott wave counts that indicate a possible wave X brown completion now and further gains in this pair. The key level of intraday resistance at 129.43 had been violated but made no hourly close yet. Moreover, in case of any further break out, the black dashed channel line might get broken and that will be another confirmation of possible uptrend resumption. On the other hand, only a new low below the level of 128.44 would invalidated this scenario and evolve into more complex corrective structure.


Support/Resistance:


126.89 - Swing Low


127.55 - WS2


128.44 - WS1


128.60 - Intraday Support


129.43 - Intraday Resistance


130.02 - Weekly Pivot


130.39 - Intraday Resistance


Trading recommendations:


Sell orders from yesterday should be closed with profit and currently daytraders should consider opening buy orders only if there is an hourly close above the level of 129.43 with very tight SL (20-30 pips max) and TP at the level of 130.39.


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Gold technical analysis for April 2, 2015

Gold price has reached the 61.8% retracement of the decline from $1,220 to $1,178. This is an important resistance level for a possible reversal. Breaking above $1,215 gold price could continue moving towards $1,250. Support at $1,178 is critical now. If it gets broken, we get a sell signal with thefirst target at $1,130.


goldh4.jpg


Gold price hold support by the Ichimoku cloud and has bounced towards the 61.8% retracement. Now, the price is trading above the cloud and this is a bullish sign. Gold price has stopped rising at an important junction. We are going to see a reversal or a continuation of the up trend starting from this level. The short-term trend remains bullish as long as the price is above $1,200. The trend turns bearish below $1,178.


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The weekly chart remains bearish. The price is bouncing towards the Kijun- and tenkan-sen resistance levels of $1,215-20. Last time when the price reached these two indicators we saw a rejection and a push towards $1,178. The price is below the cloud and I favor short positions if and when we break $1,178 with the first target at $1,130.


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Technical analysis of USD/CAD for April 2, 2015

General overview for 02/04/2015 09:20 CET


As we anticipated yesterday, the corrective wave to the downside, labeled as wave c purple, had been completed and the whole abc purple corrective structure is in the shape of a nice zig-zag. Please notice that the market must break out higher above the intraday resistance at the level of 1.2627 and 1.2708 in impulsive fashion to confirm the end of the sharp correction in wave 2 black . Otherwise, the corrective structure will evolve into more complex and time consuming pattern as indicated by the alternative count.


Support/Resistance:


1.2503 - WS1


1.2561 - Weekly Pivot


1.2575 - Intraday Support


1.2627 - Intraday Resistance


1.2708 - Intraday Resistance


1.2712 - WR1


1.2771 - WR2


Trading recommendations:


Yesterday's sell orders should be closed now with profit and daytraders should consider to open buy orders from current market levels with SL below the level of 1.2575 and TP open for now.


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Elliott wave analysis of EUR/NZD for April 2 - 2015

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Technical summary:


We did see the expected rally yesterday, but there was no real follow-through towards the upside. Ideally, we will see minor support at 1.4382 protecting the downside for the rally higher towards 1.4631 and ideally above to confirm the bottom at 1.4128 and that more upside towards 1.4869 should be seen. At this point only an unexpected break below support at 1.4310 will confuse the bullish picture.


Trading recommendation:


We are long EUR from 1.4335 and keep our stop at 1.4300. If you are not long EUR yet, then buy EUR near 1.4382 with the same stop at 1.4300.


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Elliott wave analysis of EUR/JPY for April 2 - 2015

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Technical summary:


Wave (v) lower is well advanced, but we are still looking for one final decline towards 125.98 to end wave (v) of C of the expanded flat correction, that has been unfolding since late December 2013. Once wave (v) is done, a new impulsive rally to above 149.55 is expected. In the short term, we expect the minor resistance-line near 130.32 to protect the upside for a break below minor support at 128.33 confirming the decline closer to 125.98. Only an unexpected break above 131.51 will indicate that wave (v) ended prematurely at 126.87 and the impulsive rally higher already has begun.


Trading recommendation:


We are short EUR from 129.85 we will move our stop lower to 129.50.


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Technical analysis and trading recommendation for Gold for April 02, 2015

The US jobs data and ISM manufacturing PMI disappointed markets again. We forecasted that yesterday. The metal found support from 20Dsma and ran towards the crucial resistance zone. The last upswing helped the metal hit a high of $1,219.30, rejected at 50Dsma. Now, the same moving average falls to $1,211.50. In case the metal closes above $1,212.00, we can expect $1,221.00, $1,230.00, $1,235.00, and $1,244.00. In the extreme case, we can expect 1300.00 as well. This is too early to recommend 1300.00, as a breakout is not given on the higher side. We will re-analyze the chart in case the break takes place. At yesterday's session, we requested traders to buy above $1,194.00 with targets at $1,199.00 and $1,202.00 in case of disappointing ADP data. The metal moved above our targets. Bulls need to close above $1,212.00 to confirm a big move ahead. Intraday support is seen at $1,190.00 and weekly support is likely to be found at $1,175.00. Today, traders eye on data about unemployment claims. For 3 months data gave a big thumb up to the USD. Another positive reading is likely to hammer the metal price. We would recommend selling below 1199.00 with targets at $1,192.00 and $1,190.00. Below $1,190.00, the lower targets are seen at $1,185.00 and $1,180.00. In case of negative reading, we are going to recommend buying above $1,205.00 with targets at $1,208.00, $1,211.00, $1,213.00, $1,219.00, and $1,222.00. We expect a big move above $1,223.00. Until the metal closes above 1178.00 on the higher side, it can knock at $1,255.00 during the next week. Ahead of big events coming up today, the metal is trading on the support levels. Bulls must close above $1,223.00 to knock 1300.00.


Trade: Buying above $1,205.00


Selling below $1,199.00


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Technical analysis of EUR/USD for April 02, 2015

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When the European market opens, economic about the ECB Monetary Policy Meeting Accou and French 10-y Bond Auction are due for release.The US will publish dataon the Natural Gas Storage, Factory Orders m/m, Unemployment Claims, Trade Balance, and Challenger Job Cuts y/y. So, amid the reports, EUR/USD will move low tomedium volatility during this day.




TODAY TECHNICAL LEVELS:




Breakout BUY Level: 1.0821.




Strong Resistance:1.0815.




Original Resistance: 1.0804.




Inner Sell Area: 1.0793.




Target Inner Area: 1.0768.




Inner Buy Area: 1.0743.




Original Support: 1.0732.




Strong Support: 1.0721.




Breakout SELL Level: 1.0715.








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 April 02, 2015

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In Asia, Japan is likely to release the 10-y Bond Auction and Monetary Base y/y. The US is due to release some economic data on the Natural Gas Storage, Factory Orders m/m, Unemployment Claims, Trade Balance, and Challenger Job Cuts y/y. So, there is a high 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: 120.21.




Resistance. 2: 119.98.




Resistance. 1: 119.74.




Support. 1: 119.45.




Support. 2: 119.22.




Support. 3: 118.98.








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 major pairs for April 2, 2015

EUR/USD: This pair is weak, though the weakness is limited. The support line is at 1.0650 and resistance is at 1.0900. The resistance line or support line will be breached when a serious momentum returns to the market. The journey to the downside is more likely.


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USD/CHF: This USD/CHF pair is still weak, though the weakness is limited. There is a support level at 0.9550 and resistance level at 0.9850. The resistance level or support level is going to be breached when a serious momentum returns to the market. The journey to the upside is more likely.


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GBP/USD: It is better to go short in this market instead of going long. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level of 50. This is a sell signal in spite of the visible bullish effort in the market. A movement below the accumulation territory around 1.4750 will strengthen the 'sell' signal, while a movement above the distribution territory around 1.4950 is likely to render the signal useless.


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USD/JPY: The situation on this pair requires some tact. Bulls are trying to push the price upwards, but bears are fighting against that. A close below the demand level at 119.00 would mean strengthened bearish outlook. The opposite is true when there is a breach of the supply level at 121.00 to the upside.


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EUR/JPY: This cross has gone bearish – for there is a Bearish Confirmation Pattern in the chart. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level of 50. Further weakening is expected for this cross, which may make the price test the demand zone at 128.00.


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Gold analysis for April 01, 2015

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Overview :


Since our last analysis, gold has been trading downwards. As we expected, the price has tested the level of $1,203.37 in a high volume. Accoridng to the daily time frame, we can observe demand in an average volume. I found strong resistance level at the price of $1,209.00 to $1,218.00. If the price breaks the level of $1,218.00 in a high volume, we may see potenteial testing of the level of $1,244.00. Anyway, be careful when selling gold at this stage since we have a weak supply in the background.


Daily Fibonacci pivot points:


Resistance levels :


R1: 1,188.74


R2: 1,191.66


R3: 1,196.40


Support levels :


S1: 1,179.22


S2: 1,176.35


S3: 1,171.60


Trading recommendations: Be careful when selling gold at this stage since we have a weak supply in the background.




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

EUR/NZD analysis for April 01, 2015

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Overview:


In our last analysis, EUR/NZD was trading upwards. As we expected, the price has tested the level of 1.4519 in a high volume. The price found resistance at the level of 1.4500. The short-term trend is bullish. According to the price action on 4H time frame, we can observe a supply in a weak volume. My advice is to watch for potential buying opportunities on the dips. If the price breaks the level of 1.4500 in a high volume, we will have the resistance level of 1.4580.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.4434


R2: 1.4469


R3: 1.4526


Support levels:


S1: 1.4320


S2: 1.4285


S3: 1.4228


Trading recommendations: Be careful when selling and watch for potential buying opportunities on the dips




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