Daily analysis of SILVER for September 11, 2015

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Overview

Silver price shows slight bearish bias since morning moving below the EMA50, that implise no change in our bearish overview for the rest of the day. It depends on stability inside the bearish channel that appears on the chart. A target is at13.50 followed by 12.80 as initial main targets. We remind you that a breakout of the bearish-channel resistance at 15.10 will stop cvhill decline expectations and make the price to turn its short-term track to the upside.

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Daily analysis of GBP/JPY for September 11, 2015

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Overview

In the context of in GBP/JPY pair, focus is back on 61.8% retracement of 174.86 to 195.86 at 182.88. Sustained trading there is an early sign of larger trend reversal that cpould result in a deeper fall back to the key support level of 174.86. Meanwhile, strong rebound from the current level would send GBP/JPY towards a new high above 195.86. But there is still not enough evidence for mid-term reversal yet. The uptrend from 116.83 could extend to 61.8% retracement of 251.09 to 116.83 at 199.80, which is closer to the psychological level of 200. Meanwhile, consider bearish divergence condition in the weekly MACD. A break of support at 174.86 will suggest that the trend has reversed earlier than we expect.

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EUR/NZD: analysis for September 11, 2015

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Overview:

Recently, EUR/NZD has been moving upwards. The price tested the level of 1.7966 in an ultra-high volume. In the daily time frame, we can observe a demand bar in an average volume. The intraday trend is neutral. I found strong trading range between the levels of 1.7965 (resistance) and 1.7270 (support). In the H1 time frame, we can observe a clesr sign weakness (supply coming in with very wide spread) that means we may expect further downward movement. Buying looks very risky. We may see potential testing of our support at the level of 1.7660.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.7961

R2: 1.8035

R3: 1.8153

Support levels:

S1: 1.7725

S2: 1.7650

S3: 1.7535

Trading recommendations: Weakness is observed in the H1 time frame. Be careful when buying EUR/NZD and watch for potential selling opportunities if the trend changes its direction.

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Technical analysis of Silver for September 11, 2015

Technical outlook and chart setups:

Silver faces resistance around the levels of $14.75-$15.00. Only a push higher through $15.00 could trigger further rally towards $15.60 and higher. It is hence recommended to remain flat at the moment and look for further directional clarification. Immediate support is seen at $14.00 followed by $13.00, $12.00, and lower, while resistance is seen at $15.60 followed by $16.40 and higher.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of Gold for September 11, 2015

Technical outlook and chart setups:

Gold is still trading around the fibonacci support 0.618 (of the rally between $1,075.00 and $1,170.00 levels) at $1,105.00 now. There is no doubt that the metal will remain bearish after having reversed from $1,170.00 earlier, but a bullish reversal at the current level could push the metal through at least $1,200.00. It is hence recommended to remain long from yesterday, with risk at $1,090.00. Immediate support is seen at the level of $1,090.00 followed by $1,080.00, $1,075.00, and lower, while resistance is seen at $1,170.00 followed by $1,200.00 and higher.

Trading recommendations:

Remain long for now with stop at $1,090.00, a target is open.

Good luck!

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Technical analysis of EUR/JPY for September 11, 2015

Technical outlook and chart setups:

The EUR/JPY pair reversed from fibonacci resistance around the levels of 136.50. The pair is seen to be trading at 135.90 at the moment and is expected to continue drifting lower. Also note that the pair is testing its 50 day moving average resistance line on the daily chart. It is hence recommended to remain short and also look for an opportunity to add positions now, with risk at 139.00 levels. Immediate support is seen at 132.00 levels (interim), followed by 130.00 and lower, while resistance is seen at 136.50 (interim) followed by 139.00, 140.00/141.00, and higher.

Trading recommendations:

Remain short for now with stop at 139.00, a target is open.

Good luck!

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Technical analysis of GBP/CHF for September 11, 2015

Technical outlook and chart setups:

The GBP/CHF pair remains trading around 1.5066 having tested resistance at 1.5100. Please note that 1.5100 is fibonacci 0.618 resistance and a bearish reaction could be expected anytime soon. It is hence recommended to remain short on the positions taken earlier with risk at 1.5400. Immediate support remains at 14900 followed by 1.4700/50, 1.4600, and lower, while resistance is seen at 1.5350 followed by 1.5400 and higher. Bears are expected to regain control it prices stay below 1.5400.

Trading recommendations:

Remain short with stop at 1.5400, a target is open.

Good luck!

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Gold : analysis for September 11, 2015

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Overview:

Since our last analysis, gold has been trading sideways around the level of $1,107.00. The trend is downward. According to the daily time frame, we can observe a demand in an average volume but with a weak close . According to the H1 time frame, we can observe demand with a weak close, which is a sign that buying gold around the level of $1,107.00 looks risky. Support is found at the level of $1,101.00. I am still neutral, but selling opportuniites are preferable after retracement.

Daily Fibonacci pivot points :

Resistance levels

R1: 1,112.00

R2: 1,115.00

R3: 1,117.00

Support levels:

S1: 1,106.00

S2: 1,104.00

S3: 1,101.540

Trading recommendations: We can see signs of the weakness on the H1 chart. The trend is downward. Watch for selling opportunities after retracement.

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Global macro overview for 11/09/2015

Global macro overview for 11/09/2015:

Yesterday's report on crude inventories reveal a rise up to the level of 2570k against a 5000k fall a week ago. Nevertheless, this is still only a half of barrels needed to fill the last week oil inventory decrease. This void might be filled very soon, as the US crude production is still projected to be the highest since 1972, according to the US Energy Information Administration. This week, EIA cut its 2015 output forecast for the nation by 1.5 percent to 9.22 million barrels a day, but crude market is still flooded oil which becomes cheaper and cheaper

The technical picture of oil is showing a bounce from the support at the level of 43.19, supported by 13 SMA. Nevertheless, the 55SMA is still acting as a dynamic resistance (currently at the level of 47.47). Only a clear breakout above 49.50 would change the technical bias from bearish to bullish in the near-term.

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Global macro overview for 11/09/2015

Global macro overview for 11/09/2015:

As anticipated yesterday, the Bank of England has left the interest rates unchanged at the level of 0.50% together with asset purchase program wirth 375 bln. The latest disappointing data set from the UK ( poor manufacturing, weak retail sales and PMI) might have caught attention of the policy makers, although one month in isolation is unlikely to affect their judgment too much. The overall sentiment towards the BoE interest rate hike this year is still positive, but it looks like the BoE prefers to wait for t Fed's meeting scheduled for the next week hoping to get any kind of guidance from Yannet Jellen.

The GBP/USD pair positively responded to the lack of change in interest rates and rallied after the news. The daily candle was broke above the resistance at the level of 1.5425. Crrently, we can see a test of the golden trend line.

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Technical analysis of EUR/JPY for September 11, 2015

General overview for 11/09/2015 07:45 CET

The 61%Fibo retracement level has been hit today and this pair is now at the important resistnace level. Just above this important levels another Fibo level at 136.50 lies. Moreover, the clear upper-channel line will be acting as a dynamic resistnace as well, so the whole orange rectangle area looks like key resistnace for today. Please notice, the recent move up might be just a wave (a) of a more complex and time consuming corrective wave.

Support/Resistnace:

136.70 - 66%Fibo

136.50 - 127% of Wave a Green

136.38 - 61%Fibo

135.81 - Intraday Support

Trading recommendations:

Daytraders should consider opening sell orders from the current price levels with SL just above the level of 136.71 and TP at the level of 135.81.

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Daily analysis of major pairs for September 11, 2015

EUR/USD: There has been a breakout away from the recent consolidation phase on this currency trading instrument. The EMA 11 has just crossed above the EMA 56 to the upside, while the Williams' % Range period 20 is now into the overbought region. This points to bullish momentum, which may push the price further upwards.

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USD/CHF: This currency trading instrument has continued to consolidate to the downside. The recent bullish effort on the EUR/USD applies an indirect pressure on the USD/CHF; plus the outlook may become bearish in case the price goes below the support level of 0.9600. Next week would really determine the next direction of this market.

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GBP/USD: Now the GBP/USD pair is bullish in the medium term, having moved upwards by over 280 pips, thus leading to a Bullish Confirmation Pattern in the 4-hour chart. There is a possibility that the price may test the distribution territory around 1.5550 today or next week.

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USD/JPY: There is a 'buy' signal on the USD/JPY, which would be valid as long as the price stays above the demand level at 120.00. The price could reach the supply levels at 121.50 and 122.50 very soon. Nevertheless, any movement below the demand level of 120.00 would render the 'buy' signal ineffectual.

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EUR/JPY: This cross has gone upwards by 330 pips this week, closing above the demand zone around 136.00. The next target for bulls is the supply zone of 137.00. As EUR struggles for more stamina and the yen is weakened further, this cross might even experience a stronger bullish trend.

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Technical analysis of USD/CAD for September 11, 2015

General overview for 11/09/2015 07:45 CET

For the whole week, the market has been trading inside of a tight range zone between the levels of 1.3114 and 1.3326. Currently, the price action might indicate a possible triangle formation at the end of the complex corrective structure. This would mean there might be one more wave up tol break out of the range and head towards new highs. Nevertheless, this might be the last wave up, wave 5 purple, and then bigger degree corrective decline will start.

Support/Resistnace:

1.3359 - WR1

1.3352 - Swing High

1.3326 - Intraday Resistance (strong)

1.3237 - Weekly Pivot

1.3148 - WS1

1.3136 - Intraday Support (weak)

1.3115 - Intraday Support (strong)

Trading recommendations:

Daytraders should refrain from trading and wait for more clear pattern to occur. Swingtraders should close their long-term buy orders and wait for further confirmation of a higher-degree corrective cycle.

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Elliott wave analysis of EUR/NZD for September 11, 2015

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Technical summary:

Now we can see an expected thrust out of the triangle towards the upside and it should just be a matter of time before we will see the next impulsive rally higher to 187.02. In the short term, a break above resistance at 1.8004 will confirm the rally higher.

Support is now found near 1.7792 and again at 1.7622, which will ideally protect the downside for a break above 1.8004 and the rally towards 1.8702

Trading recommendation:

We are long EUR from 1.7490 and will keep our stop at 1.7300. If you are not long EUR yet, then buy on a break above 1.7968 with stop placed at 1.7800.

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Elliott wave analysis of EUR/JPY for September 11, 2015

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Technical summary:

TA recent rally was more impulsive than we had expected. It is almost impossible to count the waves, and that does indicate that this is another X-wave rally and not the start of a new impulsive rally towards the territory above 141.06. Yes, we woul prefere to get closer to the descending channel (resistance line) near 138.50, but the rally from 132.19 is overextended and could need a correction soon.

In the short term, we will be looking for resistance at the levels of 137.41 - 137.02 for a break below minor support at 135.72 indicating a correction lower to 134.32 and even lower to 133.81 before the next move higher.

Trading recommendation:

We will sell EUR here at 136.30 with a stop at 136.75 and place take profit at 134.50.

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Technical analysis of EUR/USD for September 11, 2015

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When the European market opens, economic news on ECOFIN Meetings, Italian Industrial Production m/m, German WPI m/m, and German Final CPI m/m is due to be released.The US will publish reports about the Federal Budget Balance, Prelim UoM Inflation Expectation, Prelim UoM Consumer Sentiment, Core PPI m/m, and PPI m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1335.

Strong Resistance:1.1329.

Original Resistance: 1.1318.

Inner Sell Area: 1.1307.

Target Inner Area: 1.1281.

Inner Buy Area: 1.1255.

Original Support: 1.1244.

Strong Support: 1.1233.

Breakout SELL Level: 1.1227.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Technical analysis of USD/JPY for September 11, 2015

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In Asia, Japan will release data on the BSI Manufacturing Index. The US will reveal economic data about Federal Budget Balance, Prelim UoM Inflation Expectation, Prelim UoM Consumer Sentiment, and Core PPI m/m, PPI m/m. So, there is a strong probability that USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.43.

Resistance. 2: 121.19.

Resistance. 1: 120.96.

Support. 1: 120.66.

Support. 2: 120.48.

Support. 3: 120.19.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Daily analysis of USDX for September 11, 2015

On the daily chart, the USDX is extending losses towards the support level of 95.26, afte making a pullback around the level of 95.83. That is why we should be cautious when the index tests that zone, because a breakout to the downside could happen there. The 200 SMA is still neutral, but it could turn higher eventually .

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The index is forming a lower low pattern on the H1 chart, below the resistance level of 95.54, and now the downside target is is seen at the level of 95.41. If the USDX does a breakout there, it could test the level of 95.20 in coming hours. In this time frame, the 200 SMA is turning bearish, so we should be aware of those moves downwards.

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Daily chart's resistance levels: 96.64 / 97.23

Daily chart's support levels: 95.83 / 95.26

H1 chart's resistance levels: 95.54 / 95.80

H1 chart's support levels: 95.41 / 95.20

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US Dollar Index breaks with a bearish candlestick; the support level is at 95.41, take profit is at 95.20, and stop loss is at 95.61.

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Daily analysis of USDX for September 11, 2015

On the daily chart, the USDX is extending losses towards the support level of 95.26, afte making a pullback around the level of 95.83. That is why we should be cautious when the index tests that zone, because a breakout to the downside could happen there. The 200 SMA is still neutral, but it could turn higher eventually .

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The index is forming a lower low pattern on the H1 chart, below the resistance level of 95.54, and now the downside target is is seen at the level of 95.41. If the USDX does a breakout there, it could test the level of 95.20 in coming hours. In this time frame, the 200 SMA is turning bearish, so we should be aware of those moves downwards.

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Daily chart's resistance levels: 96.64 / 97.23

Daily chart's support levels: 95.83 / 95.26

H1 chart's resistance levels: 95.54 / 95.80

H1 chart's support levels: 95.41 / 95.20

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US Dollar Index breaks with a bearish candlestick; the support level is at 95.41, take profit is at 95.20, and stop loss is at 95.61.

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Daily analysis of GBP/USD for September 11, 2015

GBP/USD has already tested the resistance level of 1.5479, where the pair could start to develop a higher high pattern on the daily chart. This level should be broken in order to rise until the 200 SMA, which is located near 1.5559. The current structure is already calling for more upsides. The MACD indicator is entering the positive territory.

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In the H1 chart, the pair did a pullback at the resistance level of 1.5469, after a long rally held from the 200 SMA, which acted as dynamic support. That is why we should wait for upward moves on an intraday basis, also this moving is currently pointing to the upside. The MACD indicator is entering the negative territory.

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Daily chart's resistance levels: 1.5479 / 1.5559

Daily chart's support levels: 1.5329 / 1.5181

H1 chart's resistance levels: 1.5469 / 1.5494

H1 chart's support levels: 1.5440 / 1.5402

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 1.5469, take profit is at 1.5494, and stop loss is at 1.5444.

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Technical analysis of AUD/USD for September 11, 2015

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Overview:

  • As it is known, buyers are bidding for a lower price. Therefore, the first key level will set at the level of 0.7056 and the second key level will set at the 0.7021 level on September 11, 2015. Also, it should be noted that the levels of 0.7056 and 0.7021 are coinciding with the ratios of 50% Fibonacci retracement levels and 38.2% respectively. Equally important, the price of the AUD/USD pair has still moved between 0.7050 and 0.7141 . Additionally, it should be noted that a range about 90 pips is expected today. Furthermore, the trend will be very clear. We expect that the trend is going to call for a bullish market at the level of 0.7050 in the H1 chart. As a result, buy at the level of 0.7050 with the first target at 0.7112, it might resume to 0.7141 in order to test the weekly resistance 1. on the other hand, your stop loss should be placed below 0.7021, thus it will be helpful to set the stop loss at the level of 0.7005.

Observations:

  • Support is found at the level of 0.7021 and resistance has already place at 0.7141. Hence, we expect a range between 90 pips and 120 pips today.
  • If the trend is buoyant, the strength of the currency will be defined as following: AUD is in an uptrend and USD is in a downtrend.
  • Stop loss should never exceed your maximum exposure amounts.
  • As a rule, the market is highly volatile if the previous day had huge volatility.
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Technical analysis of EUR/USD for September 11, 2015

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Overview:

  • The daily pivot point is seen at the level of 1.1267; and now the price is moving around this key level. But, the weekly pivot point set at the 1.1230 price. Consequently, the market has still been calling for a rally because the pair has been trading above the key level since yesterday. Accordingly, if the trend fails to close below the level of 1.1230, it will be a good opportunity to buy above the levels of 1.1260/1.1230 with the first target at 1.1323 (this level is going to represent a double top and coincides with the ratio of 50% at the same time). Then, it will move in an uptrend towards 1.1379 in order to test the weekly resistance 2. At the same time, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. As a result, the best location to set your stop loss is seen below the level of 1.1230. It should be noted that the level of 1.1208 represents the double bottom.

Intraday technical levels:

  • R3: 1.1438
  • R2: 1.1379
  • R1: 1.1323
  • PP: 1.1267
  • S1: 1.1230
  • S2: 1.1196
  • S3: 1.1142
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