GBP/USD intraday technical levels and trading recommendations for June 25, 2015

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Overview:

On March 2, a bearish breakout of the lower limit of the previous daily channel occurred enhancing the bearish side of the market. Persistence below the zone between 1.4950 and 1.5000 indicated a further bearish decline towards 1.4700.

Shortly after, the bearish trend was resumed towards the level of 1.4550 where a lower daily bottom (which initiated the ongoing bullish swing) was reached. A daily closure above 1.5060 exposed the next resistance levels at 1.5400 and 1.5450 where a temporary bearish pullback took place on April 29.

The next bullish swing extended up to the levels of 1.5750-1.5800 which offered a valid sell entry. The final bearish target at 1.5450 was already reached.

Recently, higher highs around the level of 1.5200 were hit. That applied strong bullish pressure over the resistance level around 1.5800 via the ongoing bullish swing.

That is why the resistance level at 1.5800 was temporarily breached by the strong bullish momentum. Hence, GBP/USD bulls pursued towards 100% Fibonacci Expansion located around 1.5900.

Risky traders could have taken a valid sell entry anywhere around 1.5900-1.5930. It's already running in profits now ( almost +200 pips).

Trading Recommendations:

Conservative traders can wait for a pullback towards 1.5780 for a low-risk sell entry. Initial T/P levels are located at 1.5780, 1.5700 and 1.5600 while S/L should be set above 1.5900.

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USD/CAD intraday technical levels and trading recommendations for June 25, 2015

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Overview:

Since bulls pushed the price further above the upper limit of both depicted bullish channels and the 79.6% Fibonacci level, the market looks quite overbought. That is why the price failed to hold above 1.2650 - 1.2680 (previous highs) resulting in a formation of a Triple-top pattern.

Successive lower highs were reached within the depicted consolidation zone enhancing the bearish side of the market.

Support levels around 1.2350 and 1.2300 (79.6% Fibonacci level) were broken after providing significant support for several weeks on the daily and weekly charts.

Daily fixation below 1.2300 opened a way towards the levels of 1.2000 and 1.1940 (the depicted weekly uptrend) for the USD/CAD pair. Bullish support was offered around these levels. A bullish pullback took place shortly after.

Recently, the price zone of 1.2450-1.2500 constituted strong resistance (backside of the broken uptrend and the previous consolidation zone).

As anticipated, a daily candlestick closure below 1.2430 (previous week) enhanced further bearish decline. Since then, the price zone around 1.2400 has constituted solid intraday resistance for the USD/CAD pair.

However, the previous weekly candlestick closed at 1.2270 (reflecting lack of bearish momentum). The USD/CAD pair needs a weekly closure below 1.2300 to ensure its further bearish decline in the long term.

However, persistence above the level of 1.2220 enhanced a bullish pullback towards 1.2400 (the key level depicted on the chart) where a valid sell entry may be offered if enough bearish rejection is expressed on the short-term charts.

Conservative traders can wait for an early candlestick closure below the level of 1.2300 to confirm the previously mentioned sell entry.

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Intraday technical levels and trading recommendations for EUR/USD for June 25, 2015

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

The EUR/USD pair has lost almost 850 pips since the beginning of 2015. Moreover, EUR/USD bears have already pushed the price slightly below the monthly demand level of 1.0550 (established on January 1997).

The previous month closure had a negative impact on the EUR/USD pair. However, April's monthly candlestick came as a bullish engulfing candle on the chart.

In the long term, a bearish breakout of the monthly demand level at 1.0550 should not be excluded as the long-term breakout is projected with a target at 0.9450.

However, a bullish corrective movement towards 1.1500 may be executed if May's monthly high (1.1465) gets breached first (bulls have tried recently, but they failed).

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After such a long bearish rally (which started around the levels of 1.1300), bullish rejection took place at 1.0570 (monthly demand level).

Multiple ascending bottoms were established around the levels of 1.0470, 1.0550, and 1.0850. These levels corresponded to the daily uptrend depicted on the chart.

Further bullish pressure was observed until bearish rejection was applied around 1.1400 (Fibonacci Expansion 100% on the H4 chart - near the depicted daily supply level).

A recent closure below 1.1300 (the lower limit of the H4 channel) caused a quick bearish decline towards 1.1140 (manifested on the H4 chart).

A bearish decline towards 1.1050-1.1080 shouldn't be excluded as well.

However, we should note that the depicted price zone of 1.1030-1.1130 (highlighted in Blue) constitutes a significant daily demand zone.

On the other hand, the level of 1.1300 represents a newly established supply level (neckline of the double-top pattern). It should be watched for sell entries if a bullish pullback occurs soon.

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Intraday technical levels and trading recommendations for GBP/USD for June 25, 2015

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Evident bullish recovery emerged from the area around 1.4550 where a significant bullish engulfing weekly candlestick was expressed.

Shortly after, persistence above the levels of 1.5000-1.5080 exposed the weekly key zone of 1.5500-1.5550 where significant bearish pressure was previously applied on February 22.

Last month, the market has been pushed above this weekly key zone at 1.5550 in an attempt to reach the area around 1.5900 (100% Fibonacci Expansion) which provided evident supply for the GBP/USD pair.

It may enhance a bearish pullback towards 1.5550 only if the level of 1.5900 remains intact on a weekly basis (no weekly closure should occur above 1.5900).

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Sideways movement with a slight bearish tendency had been expressed on the daily chart until a bullish breakout above 1.4970-1.5000 (through a long-term bullish reversal pattern) took place.

The zone between 1.5000 and 1.5100 failed to keep prices below. Moreover, the GBP/USD pair formed a prominent demand zone while trending within the depicted bullish channel.

A daily closure above the weekly supply zone of 1.5500-1.5550 exposed the next supply level located at 1.5780 (61.8% Fibonacci level) where the evident bearish pressure was applied.

A bearish breakout of the depicted bullish channel took place as a result of the bearish pressure applied around 1.5780 and 1.5660 (bearish engulfing candlesticks and lower highs).

After a bearish breakout of 1.5500-1.5550 (lower limit of the broken channel) the market failed to gather enough bearish momentum towards the intraday demand level at 1.5100.

Significant bullish pressure was oserved around 1.5200. Hence, a bullish swing was established towards 1.5780 (61.8% Fibonacci level) and 1.5880 (FE 100%).

The price zone (1.5800-1.5880) remains a significant supply zone. It should be watched for a valid sell entry at retesting. T/P levels should be set at 1.5700, 1.5650, and 1.5600 while S/L should be placed above 1.5900.

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EUR/NZD: analysis for June 25, 2015

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Overview:

Recently, EUR/NZD is moving downwards. As we expected, the price tested the level of 1.6146 in an ultra-high volume (selling climax). In the daily time frame, we can observe a weak supply bar, which is a sign of the sideways market. The short-term trend is neutral, but the mid-term trend is bullish. According to the H1 time frame, we can observe a bearish bar in an ultra-high volume (selling climax) and strong reaction from buyers. Bullish corrective phase is possible. Anyway, I am waiting for larger activity on the market and stronger price action to confirm the further direction.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6325

R2: 1.6350

R3: 1.6400

Support levels:

S1: 1.6230

S2: 1.6200

S3: 1.6155

Trading recommendations: Selling climax according to the H1 time frame. Selling looks risky because strong reaction from buyers around the price of 1.6145

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Gold : analysis for June 25, 2015

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Overview:

Gold has been trading sideways around $1,174.00. In the daily time frame, we can observe a neutral bar (doji) in a volume below the average. Selling looks risky at this stage, because we got major support around $1,168.88 - $1,162.00. We can observe an ultra-high effort from sellers in the M30 time frame, but with discouraging results (weak supply). Bullish correction is still possible. I had placed Fibonacci retracement to find potential resistance levels. I got Fibonacci retracement 38.2% at the level of $1,183.00, Fibonacci retracement 50% at $1,188.00, and Fibonacci retracement 61.8% at %1,192.00. The short-term trend is bearish. Watch for selling opportunities if the price breaks major support.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,178.00

R2: 1,180.75

R3: 1,185.20

Support levels:

S1: 1,169.00

S2: 1,166.40

S3: 1,161.90

Trading recommendations:. Sideways market. Be careful when selling gold since we can observe weak supply around $1,171.00. Watch for selling opportunities just below price of $1,162.00.

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Technical analysis of GBP/USD for June 25, 2015

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Overview:

  • According to previous events, the GPB/USD pair has still trapped between 1.5655 and 1.5731. It looks reasonable to be careful in this area. Therefore, the first step is waiting for a period of tight sideway range market before a breakout. So, the market will probably start showing bullish signs at the level of 1.5655/1.5700. In other words, it will be a good sign to buy above 1.5655 with the first target at 1.5730 and it will climb towards 1.5766. At the same time, if the pair cannot break the level of 1.5766, the market will indicate a bearish opportunity below 1.5766. Then, the level will act as strong resistance. It will be a good sign to sell below 1.5766 with the first target at 1.5722 and it will call for downtrend in order to continue bearish towards 1.5687.

Observations:

  • A double top will be formed at 1.5766.
  • We expect a range of 128 pips in coming two days.
  • The supports will set at the levels of 1.5666 and 1.5625.
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Technical analysis of EUR/USD for June 25, 2015

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Overview:

  • We expect a new range about at least 93 pips today because the EUR/USD pair will trade between 1.1175 and 1.1285. Moreover, the key level is seen at 1.1215 (this price will represent a daily pivot point). Equally important, the value of 23.6% Fibonacci retracement levels is 1.1215 in the H1 chart. This level is coinciding with the daily pivot point. Therefore, it will be a good sign to buy (buy sop) at the daily pivot point (1.1215) with the first target at 1.1250. It will call for a downtrend in order to continue its bearish movement towards 1.1285 in order to test the double top. The stop loss should never exceed your maximum exposure amounts, thus the stop loss should be placed below the level of 1.1135 (double bottom) because the level of 1.1135 will confirm the bearish market.

Intraday technical levels:

  • R3: 1.1321
  • R2: 1.1278
  • R1: 1.1241
  • PP: 1.1198
  • S1: 1.1161
  • S2: 1.1118
  • S3: 1.1081
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GBP/CHF intraday down

In the M15 time frame, GBP/CHF is showing the signs of weakness after breaking below the downtrend trendline as well as 200 Moving Average.

Fibonacci applied to the channel breakout point shows that the pair is right at the R2 (1.4698) that is 61.8% Fib level. At the same time, GBP/CHF is trading near 200 Moving Average that should now act as resistance. Demarker oscillator shows that the price is in overbought condition and is near the top of the descending channel.

Unless the pair breaks above R2, it looks very bearish and should continue to move lower. Consider selling near R2 targeting 0% Fibonacci area, which is S3 support at 1.4591.

Support: 1.4657, 1.4632, 1.4591

Resistance: 1.4678, 1.4698

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USDX technical analysis for June 25, 2015

The US Dollar Index continues showing signs of strength but it has not managed to break above the 50% retracement of the decline from 97.80. The short-term trend is bullish. The longer-term important support is found at 93.55. In case of breaking below this level, I would expect a push towards 92.50 at least if not 90 where the 50% retracement of the larger upward move is found.

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The US Dollar Index is above the cloud resistance and this is a short-term bullish sign. Resistance is found at 95.70 where the 50% retracement is found. If it is broken, I would expect the price to move towards the 61.8% retracement at least at 96.15.

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The weekly chart remains supported by the kijun-sen. The 93.55 level is important support while a weekly close above 95.10 could imply more strength to come over the coming weeks. The pullback target is the 50% retracement and the price level of 90. This target will be achieved if we break below 93.10-93.50 support.

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Gold technical analysis for June 25, 2015

Gold price has stopped its decline above $1,170 and the trend remains mostly sideways as it has been for the last four months. There are increased chances of a push higher towards $1,190 as long as the price holds above $1,170. My longer-term view remains bearish.

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Blue lines = triangle pattern

Gold price has moved below the Ichimoku cloud. Support is found at $1,170 where the lower boundary of the triangle pattern is found. As long as we are above $1,170 the chances favor a bullish bounce towards $1,190 or even $1,205.

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Blue line = long-term trend line support

The weekly chart remains bearish as the price got rejected at the tenkan-sen. Important support is at $1,170 and $1,150. My longer-term view remains bearish and I believe we will break below $1,130 towards $1,000.

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Technical analysis of GBP/USD for June 25, 2015

Ahead of the Japanese CPI data release, the yen is trading higher against EUR and GBP. Due to lack of data from the eurozone and UK, today's session might depend on Japanese data. Analysts expect weaker inflation in Tokyo CPI and national CPI on a yearly basis. In case readings meet analysts' expectations, the cross will edge higher. The EUR /JPY and GBP/JPY crosses have been correcting for 4 weeks and 7 days respectively. The cross has been consolidating for almost 6 days finally made a breakout on the lower side at today's Asian session.

In the four-hour chart, the cross made the first lower low formation for more than a month. In the H1 chart, the cross lost all the moving averages. At the Asian session, the cross was trading at 194.00, the nearest nominal support is found at 193.80. The strong support is seen at 192.80 and 192.60. The 20Dsma is found at 192.40. The support seems to be a bit far from the current market price.

Intraday resistance is seen at 194.30 and 194.60. Buying momentum looms above 195.00. Fresh selling is available below 193.80 towards 193.50, 193.30, 193.00, 192.80, and even 192.50. The hourly oscillators indicated oversold.

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Technical analysis of EUR/JPY for June 25, 2015

Ahead of the Japanese CPI data release, the yen is trading higher against EUR and GBP. Due to lack of data from the eurozone and UK, today's session might depend on Japanese data. Analysts expect weaker inflation in Tokyo CPI and national CPI on a yearly basis. In case readings meet analysts' expectations, the cross will edge higher. The EUR /JPY and GBP/JPY crosses have been correcting for 4 weeks and 7 days respectively. The EUR /JPY cross has been forming multiple tops for 4 weeks. Initially, the cross made a double top at 141.04 and 140.65 later. The weekly support is found at 137.50 and 137.25. The parallel resistance is seen at 141.25. Early in June, the cross hit a high of 141.00. It made a breakout on the higher side from the inverse head and shoulder pattern. The bullish view remains in play with sl 133.00.

After 14 days of consolidation, the cross has finally closed below 20Dsma. The real selling ignited below 136.95. At yesterday's session, the cross was unable to close above that. At today's Asian session, the pair faced the resistance at 20Dsma. For an intraday basis, parallel support is found at 137.98. Selling will accelerate below 137.80 towards 137.30 and 137.15. The real selling ignited below 136.95. On the higher side, we recommend buying above 139.30 with targets at 140.00 and 140.65.

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Technical analysis of USD/JPY for June 25, 2015

A 2-day rally was rejected at the parallel resistance of 124.45. At yesterday's session, the pair closed below 20Dsma. Ahead of the Japanese CPI data release, the yen is trading higher against USD at today's Asian session. It signals double top at 123.96. In the H1 chart, the pair is moving towards a lower low. Intraday support is found at 123.40. The selling accelerates below 123.30 towards 123.00 or even 122.60. The double bottom is found at 122.48. The price gave an upside breaking above the ascending triangle. Today, the pair is likely to re-test the descending trendline. Until the support holds at 122.50, bulls will target the previous high of 125.60. Bulls closed above 124.50 to aim a new high. The pair has been consolidating for a couple of days finally got broken on the higher side. At yesterday's session, the pair gave a break on the higher side, but it was unable to breach 124.50. For an intraday session, selling opportunity is available below 123.40 with immediate targets at 123.20 and 123.00. The selling accelerates below 123.00 towards 122.70 and 122.50. Buying is available above 124.10 towards 124.40. Strong buying momentum is expected above 124.50 towards 124.65, 125.00, and 125.20. In the extreme case the level of 125.60 could be hit in a day or two if the price closes above 124.50.

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Technical analysis of USD/CAD for June 25, 2015

The US real gross domestic product increased at an annual rate of 0.2 percent in the first quarter of 2015, according to the third estimate released by the Bureau of Economic Analysis.

At yesterday's session, the index faced resistance at 50Dsma 95.55. The parallel resistance is seen at 95.68. Fresh buying is available above 95.70 with targets at 96.00 and 96.15. Strong upswing is expected above 96.25 towards 97.00 during a day. Intraday support is found at 94.95 100Dema, weekly resistance is seen at 96.25.

USD/CAD

The pair continued moving up for the fourth consecutive session. At yesterday's session, the pair rejected at 100Dsma, even though the pair breach the same on the intraday basis. Bulls managed to close above 20Dsma. The weekly resistance is seen at 1.2400. The intraday resistance is seen at 1.2400, 1.2425, and 1.2440. The support is found at 1.2340 and 1.2280. Selling accelerates below 1.2260 towards 1.2220 and 1.2200. In the hourly charts, the pair is approaching higher highs and higher lows. The near-term trend favours buying with sl 1.2270 with targets at 1.2440, 1.2500, and in the extreme case 1.2540. The positional support is found at 1.2260, 1.2220, and 1.2200. Real selling is available only below 1.2200.

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Technical analysis of GBP/USD for June 25, 2015

The cable has been sustaining losses for the third day as well. After a strong rally, pound bulls look tired. Data on existing home sales and new home sales supported greenback bulls. Recent data on the GDP firmly held the bearish grip.

The cable is trading below 100& 50Wema.The cable rejected at 50Msma last week. We have been advising cautious for more than 5 days that the cable approached the strong supply zone between 1.5930 and 1.6040. The monthly resistance is seen at 1.5935 50Msma. Last Friday, we forecast: "We expect the pair to go through the healthy correction before further move upwards. The strong support is found at the previous swing high of 1.5800, 1.5700, and strong support base formed at 1.5440". Now, the level of 1.5667 is done. The pound decreased against the greenback this week on the back of strong US data.

The weekly support is found at 1.5680 50Wsma. The litmus test is expected at 1.5680. Pound bulls need to close above this level. A daily close below it will lead to a re-test of 1.5620 and 1.5500. Today's trade depends on data from the US. We expect the price to re-test the levels of 1.5540 and 1.5500 initially before further moving upwards.

In the hourly chart, the cable has been moving towards lower highs and lower lows. The hourly support was lost. In the four-hour chart, support is found at 1.5620, 1.5560, and 1.5510. Resistance is seen at 1.5715, 1.5760, and 1.5800.The trend favours selling on rises with sl 1.5800. We advise safe buying above 1.5820.

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Technical analysis of EUR/USD for June 25, 2015

The euro stopped a 3-day fall at yesterday's session. It managed to close with marginal gains. The Greece saga was postponed again. The Ifo Business Climate Index in Germany fell to 107.4 points in June from 108.5 points last month. The indicator for the current business situation declined this month following three successive increases.

Today is a data heavy day for the US dollar and euro as well. The pair is trading below the 20Dsma and 100Dema. The pair broke the ascending trendline and closed below that.

Initially, the pair faced strong resistance at 1.1467 and the crucial line is seen at 1.1535. After the FOMC meeting, the pair made the last leg on the higher side, but it was twice rejected at that level. This week's US housing data pushed the euro down against the greenback.

Bears: the weekly support is found at 1.1120 and 1.1050 20Wsma. The litmus test is expected at 1.1050, a daily close below this is likely to lead to another test at the previous swing lows of 1.0890 and 1.0820. Resistance is seen at 1.1235, 1.1260, and 1.1290. Selling on rises favours the trend with sl 1.1290. Fresh selling advised below 1.1170. Selling pressure accelerates below 1.1130 towards 1.1070. The panic will trigger at 1.1050 towards 1.0970, 1.0860, and even 1.0800. In the four-hour chart, the pair started moving towards lower lows.

Bulls: bulls must close above 1.1290 to regain control. In this case, they will target 1.1350, 1.1380, and even 1.1440. Intraday support is found at 1.1170 and 1.1130. Resistance is seen at 1.1235, 1.1260, and 1.1290. Risky buying is available above 1.1240. In the extreme case, the pair could hit an intraday high of 1.1330. In the intraday time-frame, oscillators look oversold and a mild pullback is expected.

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Elliott wave analysis of EUR/NZD for June 25 - 2015

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Technical summary:

A correction from 1.6587 is still unfolding, but only a break below support at 1.6143 indicates that a more substantial correction is unfolding towards 1.5650. That means a break above minor resistance at 1.6280 and more importantly a break above resistance at 1.6345 for renewed upside pressure towards 1.6787.

In the long term, we are looking for even higher levels to beyond 1.7274 for a continuation towards 1.9094.

Trading recommendation:

We are long EUR from 1.6300 with stop placed at 1.6140. If you are not long EUR yet, buy EUR upon a break above 1.6280 with the same stop at 1.6140.

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Elliott wave analysis of EUR/JPY for June 25 - 2015

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Technical summary:

The support line at 126.05 has protected the downside and we continue to look for a break above minor resistance at 139.17 and more importantly above resistance at 140.63 confirming a continuation higher to 144.03.

Only a break below support 136.96 will make us reconsider the entire count from 126.05.

Trading recommendation:

We are long EUR from 138.64 with stop placed at 137.90. If you are not long EUR yet, then buy on a break above 139.17 and use the same stop at 137.90.

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Technical analysis of USD/CAD for June 25, 2015

General overview for 25/06/2015 08:00 CET

The bounce from yesterday's Fibo support level was very impulsive and now the market is back on track for even more gains. The intraday resistance at the level of 1.2421 must be violated again in order to make more gains possible. Please notice that the market might break above the recent swing high at the level of 1.2561 to make wave five as the current wave progression looks very bullish.

Support/Resistance:

1.2421 - Intraday Resistance

1.2384 - WR1

1.2275 - Intraday Support

1.2258 - Weekly Pivot

1.2216 - Invalidation Level

Trading recommendations:

Buy orders should be kept open and the SL level should be moved higher to the level of 1.2274.

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Technical analysis of Gold for June 25, 2015

Technical outlook and chart setups:

Gold is trading around the level of $1,177.00 now after dropping lower to $1,170.00 on Tuesday. The metal has formed a bullish morning star pattern as seen on the H4 chart. Bulls should remain poised to resume rally from current levels to fresh swing highs at $1,225.00 and higher respectively. It is recommended to remain long and look for an opportunity to add further positions at current levels. Risk remains at $1,150.00. Immediate support is seen at $1,170.00 (interim) followed by $1,162.00, $1,150.00, and lower. Resistance is seen at $1,215.00 (interim) followed by $1,215.00 and higher respectively.

Trading recommendations:

Remain long for now, stop is at $1,150.00, a target is open.

Good luck!

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Technical analysis of EUR/JPY for June 25, 2015

General overview for 25/06/2015 07:45 CET

The corrective cycle in wave -iv- blue turned out to be a wave three flat correction. Now the market is in another downward cycle. The important levels are still the same as the price action inside of the corrective cycle was mainly a range bound between the intraday support at 138.19 and intraday resistance at 139.25. Please notice the most important area is supply breakthrough zone between the levels of 138.29 and 137.98. Any breakout below this zone will trigger even sharper decline towards the weekly support pivot at the level of 137.07 (min).

Support/Resistance:

137.07 - WS2

137.98 - 138.29 - Supply Breakthrough Zone

138.19 - Intraday Support

138.50 - WS1

139.25 - Intraday Resistance

Trading recommendations:

The sell orders should be still kept open as the corrective cycle looks completed now and traders should keep an eye on grey rectangle area for any possible break out lower. The first target level, if the grey zone is violated, is the weekly pivot support at the level of 137.07.

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Technical analysis of Silver for June 25, 2015

Technical outlook and chart setups:

On Tuesday, silver dropped marginally lower to the level of $15.75 before pulling back again. The metal is trading around $15.93 now and the H4 chart view suggests further upside movement here. The metal broke below the trend-line support, but is still seen to be holding previous support at $15.60. It is hence recommended to remain long now with risk at $15.30. Immediate support is seen at the level of $15.60 followed by $15.30 and lower while resistance is seen at $16.40 (interim) followed by $17.20, $17.70, and higher respectively.

Trading recommendations:

Remain long for now, stop is at $15.30, a target is open.

Good luck!

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Technical analysis of EUR/JPY for June 25, 2015

Technical outlook and chart setups:

The EUR/JPY pair is trading around 138.50 now, but the pair had dropped to 138.00 in early trading hours yesterday before pulling back. As seen here, the support trendline has provided targeted bounce at 138.00. It is hence recommended to remain long for now, with risk at 137.70. Immediate support is seen at 138.00 (interim) followed by 135.00, 133.00, and lower. Resistance is seen at 140.00 (interim) followed by 141.00 and higher respectively.

Trading recommendations:

Remain long, stop is at 137.70, a target is open.

Good luck!

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Technical analysis of GBP/CHF for June 25, 2015

Technical outlook and chart setups:

The GBP/CHF pair is trading around 1.4650 at the moment after taking out resistance yesterday and hittig highs of 1.4750/60. The structure remains encouraging for bulls. There is potential for extension to 1.5000/50 and higher at coming sessions. A short correction can take place from here, which could be an opportunity to buy again. It is recommended to book profits on long positions taken earlier and look for an opportunity to enter at lower levels again. Immediate support is seen at 1.4500 followed by 1.4400, 1.4300, and lower. Rresistance is seen at 1.4750 (interim) followed by 1.5000 and higher respectively.

Trading recommendations:

Book profits on long positions taken earlier, buy at lower levels.

Good luck!

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Daily analysis of major pairs for June 25, 2015

EUR/USD: The market is bearish in the near term, though the movement is developing some equilibrium propensity.The price is likely to go further south. Any rallies here would proffer new short-selling opportunities.

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USD/CHF: There is a bullish signal on the USD/CHF chart and it would be valid as long as the support level at 0.9250 is not breached to the downside. Unless that happens, any short-term bearish corrections would be seen as an opportunity to buy long in this market. The current dip may be a potential opportunity to buy.

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GBP/USD: This market has gone down by 200 pips this week causing a morbid threat to the recent bullish outlook. It is not logical to go long in this market unless the distribution territory at 1.5800 is crossed to the upside. Any movement below the accumulation territory at 1.5600 would result in a clean Bearish Confirmation Pattern (especially as the market goes further downwards). By then, the EMA 11 would cross the EMA 56 to the downside. The RSI period 14 is already below the level of 50.

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USD/JPY: This currency trading instrument moved above the demand level at 123.50 threatening to slash above the supply level of 124.00. In case this happen, the next target would be the supply level at 124.50. However, a failure to do that could result in a smooth southward dive, making the price reach few demand levels.

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EUR/JPY: There is a vivid weakness in this market – it could go further downwards. However, whatever happens to the EUR would determine the fate of the EUR/JPY. So, weak EUR would mean a persistent bearish trend here.

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Technical analysis of EUR/USD for June 25, 2015

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When the European market opens, economic data on the GfK German Consumer Climate is due.The US will release economic data on the Natural Gas Storage, Flash Services PMI, Personal Income m/m, Personal Spending m/m, Core PCE Price Index m/m, and Unemployment Claims. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1260.

Strong Resistance:1.1254.

Original Resistance: 1.1243.

Inner Sell Area: 1.1232.

Target Inner Area: 1.1206.

Inner Buy Area: 1.1180.

Original Support: 1.1169.

Strong Support: 1.1158.

Breakout SELL Level: 1.1152.

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 June 25, 2015

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In Asia, Japan is not expected to release economic data today. The US will publish reports on the Natural Gas Storage, Flash Services PMI, Personal Income m/m, Personal Spending m/m, Core PCE Price Index m/m, and Unemployment Claims. So, there is a strong probability that USD/JPY will move with low to medoium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 124.55.

Resistance. 2: 124.30.

Resistance. 1: 124.06.

Support. 1: 123.77.

Support. 2: 123.52.

Support. 3: 123.28.

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 June 25, 2015

The daily chart structure is showing a double bottom pattern, which could help bulls get some kind of momentum in the coming days in order to reach new highs. However, we could expect more pullbacks when the USDX tests the resistance level of 95.74. The MACD indicator is entering the positive territory.

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On the H1 chart, there is a good opportunity to enter with long trades, but be cautious with the current strength of the resistance level of 95.48. Anyway, if it does a breakout there, the level of 95.80 will be the next target.

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Daily chart's resistance levels: 95.74 / 96.57

Daily chart's support levels: 94.66 / 93.75

H1 chart's resistance levels: 95.48 / 95.80

H1 chart's support levels: 95.24 / 94.63

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is at 95.48, take profit is at 95.80, and stop loss is at 95.10.

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

Daily analysis of GBP/USD for June 25, 2015

GBP/USD was moving in a bearish trend during yesterday's session as we can see on daily chart. Now it's looking for an opportunity to fall to the 200 SMA. Anyway, if that happens, GBP/USD will remain bullish in our mid-term outlook as long as it stays above that moving average. However, if the pair does a breakout at the resistance level of 1.5775, it will reach the level of 1.5898.

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The support level of 1.5687 continues to be a strong intraday bottom, because GBP/USD is looking for an opportunity to head upside as 200 SMA in the H1 chart remains bullish. There is a possible bearish formation because the pair will try to break the support zone of 1.5687 to reach the next low around the level of 1.5650.

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Daily chart's resistance levels: 1.5755 / 1.5898

Daily chart's support levels: 1.5543 / 1.5450

H1 chart's resistance levels: 1.5740 / 1.5789

H1 chart's support levels: 1.5687 / 1.5650

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 1.5740, take profit is at 1.5789, and stop loss is at 1.5693.

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Technical analysis of USD/JPY for June 24, 2015

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USD/JPY is expected to trade in a higher range. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 95.39 versus 94.32 early Tuesday) after stronger-than-expected 2.2% increase in the US new home sales to the seven-year high of 546,000 in May (versus forecast +1.0% to 522,000). USD/JPY is also supported by the higher US Treasury yields (10-year rose 5.2 bps to 2.414% Tuesday), demand from Japan's importers, the Bank of Japan's ultra-loose monetary policy, and reduced safe-haven appeal of the yen amid diminished risk aversion (VIX fear gauge eased 4.95% to 12.11; S&P 500 closed up 0.06% at 2,124.2 overnight) on the strong US housing data and continued optimism that Greece was nearing a bailout deal with its creditors. But USD sentiment is dented by the bigger-than-expected 1.8% on-month drop in the US May durable goods orders (versus forecast -1.0%), weaker-than-expected Markit US June flash manufacturing PMI of 53.4 (versus forecast 54.0). USD/JPY gains are also tempered by the Japanese exports.

Technical comment:

The daily chart is mixed as the MACD is bearish, but stochastics is bullish at oversold levels.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 124.60 and the second target at 125. In the alternative scenario, short positions are recommended with the first target at 123.30 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 122.95. The pivot point is at 123.70.

Resistance levels: 124.60 125 125.45

Support levels: 122.30 122.95 122.55

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Technical analysis of USD/CHF for June 24, 2015

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USD/CHF is expected to trade with bullish bias. It is underpinned by the bullish dollar sentiment, the negative Swiss interest rates, and the threat of the Swiss National Bank to carry out CHF-selling intervention. The pair is also supported by franc sales on the buoyant AUD/CHF, NZD/CHF, CAD/CHF, GBP/CHF crosses and on the soft CHF/JPY cross. But USD/CHF gains are tempered by the franc demand on the soft EUR/CHF cross.

Technical comment:

The daily chart is positive-biased as THE MACD and stochastics are turned bullish, bullish parabolic stop-and-reverse signal hit on Tuesday.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.9380 and the second target at 0.9420. In the alternative scenario, short positions are recommended with the first target at 0.9205 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9155. The pivot point is at 0.9250.

Resistance levels: 0.9380 0.9420 0.9460

Support levels: 0.9205 0.9155 0.9115

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Technical analysis of NZD/USD for June 24, 2015

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NZD/USD is expected to consolidate with bearish bias after hitting almost a five-year low of 0.6813 on Tuesday if 0.6874 cap holds. NZD/USD is undermined by the bullish dollar sentiment, dovish monetary stance of the Reserve Bank of New Zealand, soft dairy prices, and kiwi sales on the buoyant AUD/NZD cross. But NZD/USD losses are tempered by the kiwi demand on the buoyant NZD/JPY cross amid receding risk aversion, on the soft EUR/NZD and GBP/NZD crosses, and on the buoyant NZD/CHF cross.

Technical comment:

The daily chart is negative-biased as the MACD is bearish, stochastics stays suppressed at oversold levels. Five- and 15-day moving averages are declining.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6830. A break of that target will move the pair further downwards to 0.68. The pivot point stands at 0.6875. 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 0.69 and the second target at 0.6930.

Resistance levels: 0.69 0.6930 0.6970

Support levels: 0.6830 0.68 0.6770

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Technical analysis of GBP/JPY for June 24, 2015

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GBP/JPY is expected to trade in a higher range. It is undermined by the weak GBP/USD undertone and Japan's exports. But GBP/JPY losses are tempered by the diminished risk aversion and demand from the Japanese importers.

Technical comment:

The daily chart is negative-biased as the MACD and stochastics are bearish. Five-day moving average is falling below 15-day moving average.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 195.85 and the second target at 196.50. In the alternative scenario, short positions are recommended with the first target at 193.20 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 192.60. The pivot point is at 194.40.

Resistance levels: 195.85 196.50 197.10

Support levels: 193.20 192.60 192

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GBP/USD intraday technical levels and trading recommendations for June 24, 2015

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Overview:

On March 2, a bearish breakout of the lower limit of the previous daily channel occurred enhancing the bearish side of the market. Persistence below the zone between 1.4950 and 1.5000 indicated a further bearish decline towards 1.4700.

Shortly after, the bearish trend was resumed towards the level of 1.4550 where a lower daily bottom (which initiated the ongoing bullish swing) was reached. A daily closure above 1.5060 exposed the next resistance levels at 1.5400 and 1.5450 where a temporary bearish pullback took place on April 29.

The next bullish swing extended up to the levels of 1.5750-1.5800 which offered a valid sell entry. The final bearish target at 1.5450 was already reached.

Recently, higher bottoms were established around the levels of 1.5200. This applied strong bullish pressure over resistance level around 1.5800 via the ongoing bullish swing.

That is why, the resistance level at 1.5800 was temporarily breached by the strong bullish momentum. Hence, GBP/USD bulls pursued towards 100% Fibonacci Expansion located around 1.5900.

Risky traders could have taken a valid sell entry anywhere around 1.5900-1.5930. It's already running in profits now ( +150 pips).

Trading Recommendations:

Conservative traders can wait for pullback towards 1.5780 for a low-risk SELL entry. Initial T/P levels are located at 1.5780, 1.5700 and 1.5600 while S/L should be set above 1.5900.

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