Technical analysis of USD/JPY for August 18, 2016

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USD/JPY is expected to trade mainly in the downside movement. The pair broke below its 20-period and 50-period moving averages and is consolidating on the downside. The descending 20-period moving average crossed below the 50-period one and is playing a resistance role. Additionally, the pair broke below the lower boundary of the Bollinger Band, which could signal a continuation of bearish trend. The relative strength index has broken below its 30 level without showing any reversal signal. On Wednesday, U.S. stocks erased earlier losses to end modestly higher. The Dow Jones Industrial Average rose 21 points (0.1%) to 18573, the S&P 500 added 4 points (0.2%) to 2182, and the Nasdaq Composite edged up 1 point to 5228. Utilities shares performed the best, while retailer stocks came under pressure on profit-taking.

The minutes from the U.S. Federal Reserve's July monetary policy meeting showed that policymakers were generally upbeat about the country's economic outlook. However, there was little accord among them on the timing of raising interest rates, although some found it necessary to tighten policy soon.

As long as 100.70 is not broken above, the pair is likely to drop to 99.50 and even 98.95 in extension.

Trading Recommendation:

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 99.50. A break below this target will move the pair further downwards to 98.95. The pivot point stands at 100.70. If 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 101.20 and the second one at 101.75.

Resistance levels: 101.20, 101.75, 102.30

Support levels: 99.50, 98.95, 98.25

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Technical analysis of USD/CHF for August 18, 2016

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USD/CHF is expected to trade with a bearish bias as key resistance is set at 0.9645. The pair remains under pressure below its nearest resistance at 0.9645 (Aug 17 top), which should limit the upward potential. The 20-period moving average is turning down and is likely to cross below the 50-period one in sight. Besides, the relative strength index lacks upward momentum. The minutes from the U.S. Federal Reserve's July monetary policy meeting showed that policymakers were generally upbeat about the country's economic outlook. However, there was little accord among them on the timing of raising interest rates, although some found it necessary to tighten policy soon. To conclude, as long as the key resistance at 0.9645 is not broken, the intraday outlook remains negative with a down target at 0.9555. A break below this level would open the way to further weakness toward the next support at 0.9520. As long as 0.9785 is not broken, the pair is likely to return to 0.9725. A break below this level would open the way to further weakness toward the next support at 0.9705.

Resistance levels: 0.9680, 0.9705, 0.9760

Support levels: 0.9555, 0.9520, 0.9475

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Technical analysis of NZD/USD for August 18, 2016

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NZD/USD is expected to trade in a lower range as the pair movement is capped by a negative trend line. The pair has been capped by a negative trend line, and is expected to look for a lower bottom. The descending 50-period moving average is also playing a resistance role, and the relative strength index lacks upward momentum. On the economic front, the U.S. Commerce Department reported that July retail sales were little changed in July as compared to June (vs. +0.4% expected). Excluding cars, sales declined 0.3% (vs. +0.1% expected). Another report showed that U.S. producer-price index (PPI) dropped 0.4% on month in July (vs. +0.1% expected), the biggest decline in almost a year. As long as 0.7210 is not broken above, the risk of a break below 0.7145 remains high.

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. Therefore, long positions are recommended with the first target at 0.7200 and the second one, at 0.7170. In the alternative scenario, short positions are recommended with the first target at 0.7200 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 0.7170. The pivot point is at 0.7230.

Resistance levels: 0.7310, 0.7340, 0.7352

Support levels: 0.7200, 0.7170, 0.7145

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Technical analysis of GBP/JPY for August 18, 2016

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GBP/JPY is expected to trade with a bullish bias. The pair has bounced up from another test of support at 130.00, which should limit the downside attempts. The rising 20-moving average just crossed above the 50-period one, which is a bullish signal. The relative strength index is above its neutrality level at 50 and lacks downward momentum. As long as 130 is support, further advance is expected with the horizontal resistance at 132.50. A break above this level would open the way to further upside toward the next resistance at 133.20.

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. Therefore, long positions are recommended with the first target at 132.50 and the second one, at 133.20. In the alternative scenario, short positions are recommended with the first target at 129.20 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 128.60. The pivot point is at 130.

Resistance levels: 132.50, 133.20 , 134.60

Support levels: 129.20, 128.60

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USD/CAD intraday technical levels and trading recommendations for August 18, 2016

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On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations.

On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.

Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) was needed to enhance bearish momentum in the market.

However, recent signs of bullish recovery were manifested around the price level of 1.2650 on June 9.

Daily fixation above 1.2980 (61.8% Fibonacci level) opens the way towards the price level of 1.3300 (50% Fibonacci level) where price action should be watched for bearish rejection.

However, significant bearish rejection was expressed around 1.3190 before further bullish advance towards 1.3300 could take place.

That's why, conservative traders should consider the current daily fixation below 1.3000 as a valid SELL entry. Initial T/P levels should be located at 1.2800 and 1.2700.

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Global macro overview for 18/08/2016

Global macro overview for 18/08/2016:

The Crude Oil Inventories data released yesterday printed an unexpected drawdown in U.S. crude and gasoline stockpiles after three straight weeks of unexpected builds. Market participants had expected only a -333k barrels draw after 1055k increase a week ago, but the figure was at the level of -2508k barrels instead. Despite of this fact, the crude oil prices have gained as much as 13% since last Thursday, after Saudi Arabia, the head of the Organization of the Petroleum Exporting Countries, started speculation that OPEC was ready for an output freeze deal with producers outside the group. In conclusion, the inventories scores are now being less important than rumors and hints coming from the OPEC members, who are desperately trying to find a solution of the global supply glut.

Let's now take a look at the Crude Oil technical picture in the daily time frame. Bulls have managed to rally up to the 61% Fibo at the level of 46.89. Now the question is whether this rally will be a consistent one or bears will jump into the market. The daily candle close should be closely watched now. The next support is seen at the level of 45.81 and the next resistance is seen at the level of 48.24.

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NZD/USD Intraday technical levels and trading recommendations for August 18, 2016

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Bullish persistence above 0.6550 (the depicted support) was necessary to keep the price moving towards higher bullish targets.

In February and March, signs of bearish rejection (triple-top reversal pattern) were expressed around the price level of 0.6750 until April when a bullish breakout above 0.6750 and 0.6860 was executed.

Later on May 6, daily candlestick closure below the 0.6850 level enhanced a quick bearish movement towards 0.6750 where bullish rejection was expected to be applied. However, obvious bearish closure below 0.6750 was achieved on May 24.

On May 30, obvious bullish rejection was expressed around the price level of 0.6675 (the lower limit of the depicted channel). That's why, the recent bullish breakout is taking place above 0.6860.

As long as the NZD/USD pair kept trading above 0.6860, further bullish advance was expected towards the price zone around 0.7200 (upper limit of the depicted channel).

As anticipated, the price zone of 0.7150 - 0.7200 (upper limit of the depicted channel) offered a profitable SELL trade. T/P levels should be located at 0.6970, 0.6900, and 0.6850. S/L should be set as a daily candlestick closure above 0.7300.

Note the Head and shoulders reversal pattern on the daily chart.

Confirmation requires DAILY candlestick closure below 0.6970 (Neckline). Projection targets extend down to 0.6760 and 0.6690 levels.

On the other hand, the price zone between 0.6760-0.6700 constitutes a support zone to be watched for a possible BUY entry if the current bearish swing extends below 0.7000.

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Global macro overview for 18/08/2016

Global macro overview for 18/08/2016:

The jobs data from Australia were released overnight and they were slightly better than expected. Australian Employment Change jumped 26.2k (10.2 expected and 10.8 prior) and it was the sharpest gain since October 2015. The unemployment rate edged down to 5.7% (5.8% expected and 5.8% prior). The participation rate remained unchanged at the level of 64.9%. In conclusion, the latest rate cut by RBA is now showing visible results, which could be not very impressive yet, but definitely it is a pretty good beginning.

Let's now take a look at the AUD/USD technical picture in the daily time frame. The market keeps trading above all of the moving averages, but it has been rejected at the level of 0.7754 and the price made a bearish piercing pattern. The next support is seen at the level of 0.7510 and the next resistance is seen at the levels of 0.7754 and 0.7834.

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Intraday technical levels and trading recommendations for GBP/USD for August 18, 2016

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Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market.

However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur.

The prominent demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection and a bullish engulfing weekly candlestick on February 26.

Bullish fixation above 1.4670 allowed further bullish advancement initially towards 1.4950 (Weekly Supply) where significant bearish rejection was expressed.

The price zone between 1.3845 and 1.3550 (Historical bottoms in January 2009) was considered a significant demand zone to be watched for bullish recovery.

However, by the end of June, a significant bearish breakdown below 1.3550 was expressed as seen on the depicted charts.

Bearish persistence below the demand level at 1.3550 enhances the bearish scenario towards 1.2700 (the nearest bearish projection target) where price action should be watched for a possible short-term BUY entry.

On the other hand, the price zone of 1.3845-1.4040 now constitutes the recent supply zone to be watched for new SELL entries if any bullish pullback extends above 1.3550.

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Intraday technical levels and trading recommendations for EUR/USD for August 18, 2016

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In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450.

In March 2015, the EUR/USD bears challenged the next monthly demand level around 1.0570, which had been previously reached in August 1997.

Later in April 2015, a strong bullish recovery was observed around the mentioned demand level. However, next monthly candlesticks (September, October, and November) reflected a strong bearish rejection around the area of 1.1400-1.1500.

Again In February 2016, the depicted price levels around 1.1400-1.1500 acted as a significant supply zone during the bullish pullback.

That is why, recent bearish rejection was expected around the current price levels (note the monthly candlesticks of May and June).

In the long term, the level of 0.9450 will remain a projected bearish target if the current monthly candlestick comes to close below the depicted monthly demand level of 1.0570.

On the other hand, note that a monthly candlestick closure above 1.1400 invalidates this bearish outlook on an intermediate-term basis (low probability).

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The long-term outlook for the EUR/USD pair remains bearish as the monthly chart illustrates. Bearish fixation below 1.1000 is needed to enhance this bearish scenario.

On July 8, recent bullish recovery was manifested around the price zone of 1.1000-1.0950 (previous consolidation range), but on July 15 significant bearish pressure was applied around 1.1150.

This week, bearish fixation below 1.1000 will be needed to allow a bearish decline to 1.0820 (key level 2) where price actions should be watched for a possible short-term BUY entry.

On the other hand, the EUR/USD pair kept trading above the price zone of 1.1000-1.0950 (previous consolidation range). Hence, further bullish advance towards 1.1170 and 1.1220 was executed as expected.

Price action should be watched around the price zone of 1.1250 (Supply Level 1) for a valid SELL entry if enough bearish rejection is expressed. However, temporary bullish breakout is being expressed above 1.1250.

Note that bullish persistence above 1.1250 allows further bullish advance towards 1.1400 (Supply Level 2) where a better SELL entry can be offered.

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Technical analysis of EUR/JPY for August 18, 2016

General overview for 18/08/2016:

The choppy, horizontal price action continues after the price has bounced from the intraday support at the level of 112.31, but did not manage to break out above the intraday resistance at the level of 114.01. Only a sustained break out above this level would mark the bottom of the wave ii at the level of 112.35 and make the impulsive rally in wave iii possible. The invalidation level for this scenario is still at the intraday support at the level of 112.31, nevertheless the bullish divergence between the price and momentum oscillator indicates a possible upside rebound.

Support/Resistant:

112.31 - Intraday Support

112.42 - WS1

113.17 - Weekly Pivot

113.65 - WR1

114.02 - Intraday Resistance

114.48 - WR2

114.96 - WR3

Trading recommendations:

Day traders should consider opening buy orders from current price levels with SL below the level of 112.30 and TP at the level of 114.00.

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Technical analysis of USD/CAD for August 18, 2016

General overview for 18/08/2016:

The corrective cycle in wave iv has been completed and one more wave to the downside is expected before any meaningful bounce will happen. The wave v might develop into a typical ending diagonal pattern that will eventually break out to the upside when terminated.

Support/Resistant:

1.2798 - Intraday Support

1.2822 - WS1

1.2894 - Intraday Resistance

1.3006 - Weekly Pivot

1.3091 - WR1

Trading recommendations:

Currently day traders should refrain from trading and wait for the last cycle down to complete before entering any transaction.

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EUR/NZD analysis for August 18, 2016

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Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5486 in a high volume. According to the 1H time frame, I found a broken bullish flag and a successful test of the flag formation, which is a sign that selling looks risky. The trend is upward. So, watch for buying opportunities on the dips. The first upward target is set at the price of 1.5620.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5615

R2: 1.5670

R3: 1.5760

Support levels:

S1: 1.5435

S2: 1.5380

S3: 1.5290

Trading recommendations for today: Watch for buying opportunities.

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Gold analysis for August 18 , 2016

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Since our previous analysis, gold has been trading upwards. The price tested the level of $1,355.89 in a high volume. According to the 1H time frame, the price rejected from my downward target at the level of $1,335.95. I found a massive volume and strong rejection from the level of $1,335.95. Today, I found successful testing of supply in a low volume, which is a sign that selling looks risky. According to the 1M time frame, there is a finished ABC corrective phase and I expect a test of $1,353.50. The key resistance level is set at the price of $1,357.80.

Hourly Fibonacci pivot points:

Resistance levels:

R1: 1,355.85

R2: 1,356.40

R3: 1,357.25

Support levels:

S1: 1,354.10

S2: 1,353.50

S3: 1,352.65

Trading recommendations for today: Selling looks risky, watch for buying opportunities.

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Technical analysis of NZD/USD for August 18, 2016

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Overview:

  • The NZD/USD pair continues to rise from the level of 0.7245 in the long term. It should be noted that the support is established at the level of 0.7245 which represents the 61.8% Fibonacci retracement level on the H4 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the NZD/USD pair is showing signs of strength following a breakout of the highest level of 0.7245. the price spot of 0.7245 and 0.7250 remains a significant support zone. Thus, the trend is still bullish as long as the level of 0.7245 is not breached. The RSI is still calling for the strong bullish market as well as the current price is also above the moving average 100. So, buy above the level of 0.7245 with the first target at 0.7313 in order to test the daily resistance 1 and further to 0.7343. Also, it might be noted that the level of 0.7343 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the NZD/USD pair breaks through the support level of 0.7245, a further decline to 0.7184 can occur which would indicate the bearish market. In overall, we still prefer the bullish scenario as long as the price is below the level of 0.7245.
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Technical analysis of USD/CHF for August 18, 2016

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Overview:

  • The USD/CHF pair faced strong resistance at the level of 0.9622 because support had become resistance on August 18, 2016. So, the first resistance has already formed at the level of 0.9622 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 0.9622, the market will indicate a bearish opportunity below the resistance level of 0.9622 (the level of 0.9622 coincides with a ratio of 23.6% Fibonacci). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength below the moving average (100). Thus, the market is indicating a bearish opportunity below 0.9622 so it will be good to sell at 0.9620 with the first target of 0.9570. It will also call for a downtrend in order to continue towards 0.9521 so as to test the double bottom. The daily strong support is seen at 0.9521. However, the stop loss should always be taken into account, for that it will be reasonable to set your stop loss at the level of 0.9684.

Intraday key levels:

  • Resistance 3:0.9733
  • Resistance 2:0.9684
  • Resistance 1:0.9622
  • Pivot Point:0.9570
  • Support 1:0.9521
  • Support 2:0.9471
  • Support 3:0.9411
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USD/JPY at strong support, remain bullish

We look to add to our position on USD/JPY at the 99.50 support level (Fibonacci projection, horizontal support) for a rise to 101.00 resistance (pullback horizontal resistance, Fibonacci retracement, Fibonacci projection) at least.

RSI (34) is seeing strong support from its ascending support line that means we might see a bounce soon.

Stochastics (21,5,3) is also seeing strong support at the 3% level where we expect a bounce from.

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Buy again above 99.50 Stop loss is at 99.00. Take profit is adjusted to 101.00

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EUR/USD remains at key resistance, keep our bearish view.

We see a very bearish formation at the 1.1315 level (Fibonacci projection, bearish candlestick formation, Fibonacci retracement) where we expect a reversal from to at least 1.1155.

RSI (21) is also seeing major resistance at 76% where we expect a reversal from.

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Sell below 1.1315. Stop loss is at 1.1348. Take profit is at 1.1155.

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NZD/USD profit target reached perfectly before bouncing. Go bearish again.

Price dropped perfectly from our selling area of 0.7300 and reached our profit target of 0.7200 before bouncing up. We remain bearish looking to sell on strength below 0.7300 major resistance (Fibonacci projection, Fibonacci retracement, horizontal resistance) for another drop to 0.7200 at least.

Stochastics (21,5,3) is again approaching resistance at 93% where we expect a reaction from.RS (21) is below our descending resistance line but the pair is required to rise to it before we see a drop from there again.

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Sell below 0.7300. Stop loss is at 0.7325. Take profit is at 0.7200.

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Elliott wave analysis of EUR/NZD for August 18 - 2016

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Wave summary:

EUR/NZD tried to break above the resistance-line from 1.6931 yesterday, but failed the first attempt. As long as minor support at 1.5366 is able to protect the downside, we will be looking for more upside pressure, but a strong break above 1.5626 should be seen soon or the bears will win another battle and push prices lower towards 1.4920 from where a new recovery is expected.

A strong break above 1.5626 will call for a rally to 1.5839 and likely even closer to 1.6095 as the next minor upside targets.

Trading recommendation:

We are long EUR from 1.5410 with stop placed at 1.5360. If you are not long EUR yet, then only buy a break above 1.5626 and use the same stop at 1.5360.

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Elliott wave analysis of EUR/JPY for August 18 - 2016

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Wave summary:

Still no resolution here. We are currently locked inside a minor consolidation area between 112.28 - 114.03. Whatever way the break is seen out of this consolidation, will determine next 175 pip move. We slightly favor the upside, but the odds for a possible move closer to 110.79 is close to fifty-fifty. Only a break below 110.79 will call for more downside towards 109.48 and likely even closer to 106.03 before the long term corrective low finally is in place here.

Trading recommendation:

Stop at 112.75 was hit for a small loss. We will only buy a break above 114.03 with stop at 112.20.

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Daily analysis of major pairs for August 18, 2016

EUR/USD: The EUR/USD has been able to maintain its bullishness this week. Price is currently above the support line at 1.1250. The resistance line at 1.1300 has been tried several times and it would be breached to the upside this week or next, provided the buying pressure in the market is strong enough.

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USD/CHF: The USD/CHF has been able to maintain its bearishness this week. Price is currently below the resistance level at 0.9650. The support level at 0.9600 has been tried several times and it would be breached to the downside this week or next, provided the selling pressure in the market is strong enough. Some fundamental figures are expected today and they would have impact on the market.

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GBP/USD: This pair rallied 150 pips on Tuesday, and consolidated on Wednesday. Price would need to move upwards by at least, 300 pips, before there can be a Bullish Confirmation Pattern in the 4-hour chart. Otherwise, the event of yesterday would simply be another opportunity to go short at a better price.

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USD/JPY: This is a bear market in the short term. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. All bulls' effort in the market is expected to be scuttled. Then bears might be able to push price towards the demand levels at 99.50 and 99.00; though that would require strong selling pressure.

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EUR/JPY: This is a consolidating market, which has not moved upwards or downwards significantly this week. Since the EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50, it is safe to say that when momentum returns to the market, it would be in favor of the bears.

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Technical analysis of EUR/USD for Aug 18, 2016

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When the European market opens, some economic data will be released such as ECB Monetary Policy Meeting Accounts, Final Core CPI y/y, Final CPI y/y, Current Account.The US will release the economic data too such as Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, Philly Fed Manufacturing Index, so amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.1349.

Strong Resistance:1.1343.

Original Resistance: 1.1332.

Inner Sell Area: 1.1321.

Target Inner Area: 1.1295.

Inner Buy Area: 1.1269.

Original Support: 1.1258.

Strong Support: 1.1247.

Breakout SELL Level: 1.1241.

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 Aug 18, 2016

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In Asia, Japan will release the Trade Balance and the US will release some economic data such as Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, Philly Fed Manufacturing Index.So there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 100.31.

Resistance. 2: 100.12.

Resistance. 1: 99.92.

Support. 1: 99.68.

Support. 2: 99.46.

Support. 3: 99.29.

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 August 18, 2016

Following the FOMC minutes, USDX tested the support zone of 94.65, where a breakout failed and now, the index can perform a rebound towards the resistance level of 95.19. The structure is still pointing to the downside, but the minutes didn't trigger major moves and after that, the USDX retraced back above that support level. Currently, if the index achieves to consolidate below that zone, then it can test the 94.32 level.

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H1 chart's resistance levels: 95.19 / 95.51

H1 chart's support levels: 94.65 / 94.32

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 94.65, take profit is at 94.32 and stop loss is at 95.00.

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Daily analysis of GBP/USD for August 18, 2016

GBP/USD rallied to make a new weekly high, following slightly dovish FOMC's minutes and now, the pair is being supported by the 200 SMA at H1 chart. A resistance can be seen at the 1.3085 level, where a breakout should open the doors to test the 1.3170 price zone. Overall structure remains bearish and eventually, it can resume that bias towards the 1.2894 level.

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H1 chart's resistance levels: 1.3085 / 1.3170

H1 chart's support levels: 1.3000 / 1.2894

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.3000, take profit is at 1.2894 and stop loss is at 1.3108.

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