Technical analysis of EUR/USD for February 3, 2015

Trading recommendations:
The support of the EUR/USD pair has already set at 1.1270 on February 3, 2015. In the short term, the weekly pivot is acting as a support for a while. Furthermore, it will be very profitable to buy above this level for retesting this level in the long term. Therefore, buy deals are recommended above the level of 1.1270 with targets at 1.1360 and 1.1422 to reach the double top on the H1 chart. On the contrary, the resistance is going to set at the level of 1.1439 (the level of 1.1439 is representing the weekly resistance 1) this week. Consequently, the descending movement will probably be lower than the level of 1.1456 which represents the ratio of 61.8% of Fibonacci retracement levels at the same time frame, with the targets at the weekly pivot point around the area of 1.1268 and 1.1206.

Observations:
We expect a new range about 64-75 pips today.

The key level will be set at the level of 1.1268.

The support of the EUR/USD pair has been already set at 1.1268. Moreover, the major support will set at the 1.1206 level.

If the trend fails to close below the level of 1.1268, it will be a good opportunity to buy above 1.1270 with the first target at 1.13,60 then it will be continued straight towards 1.1422.

The price of 1.1439 is representing the weekly resistance 1 and 1.1422 is going to form a double top.

Technical analysis of USD/JPY for February 04, 2015

In Asia, Japan will release the Average Cash Earnings y/y. The US will publish several economic reports such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 118.32.

Resistance. 2: 118.09.

Resistance. 1: 117.86.

Support. 1: 117.58.

Support. 2: 117.35.

Support. 3: 117.12.

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.

Technical analysis and trading recommendations on GBP/USD for February 05, 2015

The cable closed with marginal gains at yesterday's session. The UK services PMI surged in January. The UK service sector started 2015 with a strong note. The index rose to 57.2 in January from a 17-month low in December which stands at 55.8. But on the other hand, the US dollar gained ground affected by the strong US economic data. Private sector employment increased by 213,000 jobs from December to January. The cable managed to breach above the descending trend line on the daily chart on an intraday basis, but was unable to close above it. Today, again the pair is facing resistance on the same descending trend line. The cable has a parallel resistance at 1.5270. Bulls can challenge, if the prices break above the trend line and close above it. We recommend fresh buying above 1.5270 with the targets at 1.5320 and 1.5400. On the down side, the pair has support at 1.5125, 20Dsma. The hourly support levels are set at 1.5165, 1.5150, and 1.5100. Risky trades can sell below 1.5165 with the targets at 1.5140, 1.5125, and 1.5100. The panic will be triggered below 1.5100. Today, the focus has shifted to the Bank of England monetary policy statement. We expect the BoE to hold its benchmark interest rate at 0.50%. On the US front, the unemployment data is the key driving factor of this pair. Ahead of BOE monetary policy statement, the cable is trading in a negative bias.

Technical analysis of GBP/JPY for Feburary 06, 2015

Fundamental overview:
GBP/JPY is expected to consolidate in a higher range as markets await the U.S. nonfarm payrolls report. GBP/JPY is underpinned by the improved EUR sentiment amid diminished concerns over Greece, positive risk tolerance and demand from Japan's importers. But GBP/JPY gains are tempered by Japan's export sales and position adjustment ahead of the weekend.

Technical comment:
Daily chart is positive-biased as MACD and stochastics are bullish.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 180.55 and the second target at 180.60. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 178.50. A break of this target would push the pair further downwards, and one may expect the second target at 177.70. The pivot point is at 179.20.

Resistance levels:
180.55
180.90
181.45

Support levels:
178.50
177.70
177

Technical analysis of EUR/USD for February 12, 2015

When the European market opens, some economic news will be released such as EU Economic Summit minutes, Industrial Production m/m, and German Final CPI m/m. The US will release a batch of economic reports such as the 30-y Bond Auction, Natural Gas Storage, Business Inventories m/m, Unemployment Claims, Retail Sales m/m, and Core Retail Sales m/m. So, amid the reports, EUR/USD will move with low to meidum volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level:1.1367.

Strong Resistance:1.1360.

Original Resistance: 1.1349.

Inner Sell Area: 1.1338.

Target Inner Area: 1.1311.

Inner Buy Area: 1.1284.

Original Support: 1.1273.

Strong Support: 1.1262.

Breakout SELL Level: 1.1255.

Technical analysis of EUR/USD for February 13, 2015

Overview:

The EUR/USD pair rebounded from the level of 1.1304 (23.6% of Fibonacci retracement levels on H4 chart). Hence, the trend has been showing signs of strenght after the level of 1.1304 since yesterday. Equally important, it should be noted that the resistance has broken and it has turned into support at the same key level (1.1304). In addition, the price will set above the new support for a while because the pair has already formed a strong support at 1.1304. Furthermore, the trend is expected to move between the levels of 1.1325 and 1.1452 until the end of this week. Therefore, the EUR/USD pair will start showing signs of the bullish market from minor support around the 1.1340-1.1366 area again in order to indicate a bullish opportunity at 1.1340 or/and 1.1366 with a first target of 1.1432 (38.2% of Fibonacci retracement levels). The pair will continue towards 1.1492 to test the last double top on the 4h chart. On the contrary, if the level of 1.1304 is broken, the pair could close below it at the same time frame. It is 1.1300 which means that the market will call for a downtrend below the level of 1.3600 to start a bearish bias towards 1.1245 on Friday 13 February, 2015.

Intraday technical levels:

Date: 13/02/2015

Pair: EUR/USD

R3: 1.1570

R2: 1.1496

R1: 1.1450

PP: 1.1376

S1: 1.1330

S2: 1.1256

S3: 1.1210

Technical analysis of Silver for February 16, 2015

Technical outlook and chart setups:
Silver bounced off from the Fibonacci 0.618 levels at $16.50/55 last week. The metal has since then raised through the levels of $17.40. It looks like the metal has resumed its uptrend and is poised to rally towards the levels of $18.90, $19.50 and $21.00, respectively. It is highly recommended to remain long for now, with risk below the levels of $16.00. Immediate support is seen at the levels of $16.50 followed by $16.20, $15.50 and lower, while resistance is seen at $17.70/80 followed by $18.40, $18.90 and higher, respectively. Bulls remain in control for now. The levels of $16.50 should remain intact.

Trading recommendations:
Remain long; stop is at $16.00, target is open.
Good luck!

Technical analysis of EUR/USD for February 23, 2015

When the European market opens, some economic news, such as German Ifo Business Climate, will be released. The US will also publish the economic data such as Existing Home Sales. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1432.

Strong Resistance:1.1425.

Original Resistance: 1.1414.

Inner Sell Area: 1.1403.

Target Inner Area: 1.1376.

Inner Buy Area: 1.1349.

Original Support: 1.1338.

Strong Support: 1.1327.

Breakout SELL Level: 1.1320.

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. 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.

https://forex-images.instaforex.com/userfiles/20150223/!EURUSD_source!.jpg

Technical analysis of EUR/JPY for February 24, 2015

General overview for 24/02/2015 09:05 CET

The pair is still trading inside the range zone between the levels of 133.55 - 135.88 and it looks like the wave b purple might have been completed. This means the market should try to break out above the intraday resistance at the level of 135.88 in impulsive fashion and head towards the projected target zone (orange rectangle). Only a sustained breakout below the intraday support at the level of 133.55 would invalidate this view.

Support/Resistance:

137.25 - 137.64 - Projected Target Zone

136.90 - WR1

135.88 - Intraday Resistance

135.21 - Weekly Pivot

134.43 - Intraday Support

134.21 - WS1

133.55 -Intraday Support

Trading recommendations:
The yesterday's advise is still valid: day traders should consider opening buy orders only when the level of 135.88 is violated with relatively tight SL (20-30 pips) and TP at the level of 137.25 - 137.64. Please, notice that the wave b purple might get more complex and time consuming, so it is safer to wait for an impulsive breakout above the level of 135.88 to trade it.

Technical analysis of Gold for February 25, 2015

Technical outlook and chart setups:

Gold is looking up to rally towards fresh highs at $1,400.00 levels in the coming sessions. The metal has finally bottomed out after forming lows at $1,190.00 levels twice in a row, producing a tweezer bottom and following up well with a bullish candle in formation right now. Trading at $1,209.00, the metal is seeking to clear above $1,225.00 as initial target, that could set it up to rally further. Also, the entire structure is looking like an inverted head and shoulder reversal, with potential right shoulder being carved out at $1,190.00 levels. It is strongly recommended to hold long positions and look to add on dips, with risk at $1,170.00 levels. Immediate support is seen at $1,190.00 levels (interim), followed by $1,170.00, $1,030.00 and lower while resistance is seen at $1,225/35.00 levels (interim), followed by $1,280.00, $1,307.00 and higher respectively.

Trading recommendations:

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

Good luck!

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Technical analysis of EUR/JPY for February 26, 2015

Technical outlook and chart setups:

The EUR/JPY pair is seen to be trading sideways (cone formation) in a 100-pip range between 134.50 and 135.50 respectively for 3 trading sessions in a row. Please note that the pair had bounced off lows, just below 134.00 earlier as seen here on the 1H chart. The pair is expected to break higher towards at least 137.50 levels. A push above 135.50 levels now would confirm the same. Hence, it is recommended to remain long with a risk below 133.00 levels. Immediate support is seen at 134.50, followed by 133.50, 132.50 and lower while resistance is seen at 135.50 levels, followed by 136.00/25, 137.50/138.00 and higher respectively.

Trading recommendations:

Remain long, stop at 132.50, a target 137.50/138.00.

Good luck!

EUR/USD Wave Analysis for February 27, 2012

Technical outlook and chart setups:

Silver has rallied through the $16.90 levels as expected, before pulling back. The metal is facing a trend line resistance at $16.80/90 levels as seen here, and a push higher is required to instill further confidence in the bullish setup. It is still recommended to remain long with risk at $15.50 levels. Immediate support is seen at $16.00/10 levels, followed by $15.50 and lower while resistance is seen at $17.40/70 levels, followed by $18.40/50 and higher respectively. Bulls should be poised to remain in control till prices stay above $16.00 for now.

Trading recommendations:

Remain long, stop at $15.50, a target is open.

Good luck!

Technical analysis of USD/JPY for March 02, 2015

In Asia, Japan will release the Final Manufacturing PMI and Capital Spending q/q. The US will release a number of economic reports such as ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.46.

Resistance. 2: 120.23.

Resistance. 1: 119.99.

Support. 1: 119.70.

Support. 2: 119.46.

Support. 3: 119.23.

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Technical analysis and trading recommendations on GBP/USD for March 03, 2014

UK manufacturing PMI rises to a 7-month high. The growth rate of the UK manufacturing sector continued to strengthen at the start of 2015. The seasonally adjusted Markit/CIPS PMI rose to a seven-month high of 54.1 in February, up from 53.1 in January. Today, traders eye Carney's speech and construction PMI data. We are bullish for the British pound against crosses, but still remain cautious about the US dollar. From the technical view, the cable closed marginally higher last week.

Technically, the cable was rejected from 20Wsma and 100Dsma last week. The cable has been improving the support base from the lows 1.4951. If we look at the daily chart, prices are moving up and consolidating, again pushing to a new high with consolidation. This time, the price is consolidating in the crucial support zone. We can find a strong support base between 1.5350 and 1.5315, last hope at 1.5280 or 50Dsma.

The intraday resistance is found at 1.5350. We recommend selling below 1.5350 with targets at 1.5330, 1.5315, and 1.5280. Bulls can challenge 1.5500 and 1.5560, in case the price closes above 1.5480.

The near- and medium-term trend will turn to positive, in case the price closes above 1.5500 on a weekly basis. Resistance: 1.5380, 1.5420, 1.5460. Support: 1.5350, 1.5330, 1.5280. From the above analysis, we recommend you: selling below 1.5350. Buyers: buying between 1.5316 and 1.5300, sl 1.5280.

Risk lovers: buy with sl 1.5350.

Read more: https://www.instaforex.com/forex_analysis/57481/

EUR/JPY Intraday Technical Analysis March 04, 2015

Overview:

The double bottom of EUR/USD is likely to set at the level of 1.1154 and supports are going to be set at the 1.1150/1.1160 levels. It should be noted that the last range was very small, around 55 pips only. Today, we expect the range of 80-110 pips. Moreover, the price has not hit support 1 nor the weekly pivot point this week. So, according to past events, the market is likely to move between the levels of 1.1150 and 1.1255; because the major support is going to be set at 1.1150; and the resistance had been already set at the level of 1.1255 (the weekly pivot point). Also, it should be noted that the price of 1.1255 represents the double top in the H1 chart. Therefore, it will be very useful to buy above the price of 1.1150 in the short term with the first target at 1.1197. Additionally, if the trend is able to break the first target at 1.1197, then it might resume towards the price of 1.1255.

Read more: https://www.instaforex.com/forex_analysis/57556/

Technical analysis of AUD/USD for March 5, 2015

Overview:

The market of AUD/USD will probably start showing the signs of bullish market again in order to indicate a bullish opportunity from the level of 0.7792, which represents a minor support on the H1 chart. It should be also noted that this support is coinciding with the ratio of 38.2% Fibonacci retracement levels. So, it is recommended to buy during the correction and to open long trades above 0.7792 with targets at 0.7818 continuing towards the strong resistance around the area of 0.7850. Meanwhile, bulls were forced to pull back below the level of this area; therefore, this level will form a strong resistance in order to indicate a bearish opportunity below the resistance (0.7850). On the other hand, there is a new intraday bearish outlook on March 5, 2015: if a close is below 0.7780, the market will be called for a downtrend in order to continue bearish movement towards the prices of 0.7751 to test the double bottom at the same time frame.

Review:

The key level will be at the level of 0.7792. It should be also noted that the level of 0.7792 represents the weekly pivot point.

The support of the AUD/USD pair has been already set at 0.7780-0.7792.

The price of 0.7850 represents the weekly resistance 1, and the level of 0.7858 is going to form a double top on the H1 chart.

So, we expect a new range about 68 pips today.

Technical analysis of Gold for March 06, 2015

Technical outlook and chart setups:

Gold is seen to be testing recent lows around $1,196.00/1,120.00 levels as seen on the daily chart view. The metal is preparing for an extended rally towards $1,400.00 levels in the sessions to come. Bulls are poised to remain in control till prices stay above $1,190.00 and subsequently $1,170.00 levels respectively. It is hence recommended to remain long with risk at $1,170.00 for now. Also note that $1,190.00 is the fibonacci 0.618 support of the rally between $1,130.00 and $1,307.00 respectively, which is holding well. Immediate support is seen at $1,170.00 levels while resistance is seen at $1,240.00/50.00 and higher respectively.

Trading recommendations:

Remain long, stop at $1,170.00, a target is open. Good luck!

Read more: https://www.instaforex.com/forex_analysis/57682/

Technical analysis and trading recommendations on GBP against USD & YEN for March 09, 2015

GBP/USD

Today, no major data is due on the pound. Traders are alert to BoE Governor Carney's speech in London tomorrow. Ahead of Carney's speech the pair is trading with a positive bias at the Asian session. We are bullish for the British pound against crosses, but still remain cautious about the US dollar. The support seems at 1.5030. The cable has been rejected twice at 50-Dsma closed at a 4-week low. The cable has parallel support between 1.4990 and 1.4950. The monthly support seems at 1.4810. In case, the price closes below 1.4950, we can expect 1.4800 in the medium term and 1.4350 in the longer term. The cross EUR/GBP is also weighing on the pound. The eurozone is the major trading partner with the UK. We recommend fresh intraday selling below 1.5030 with targets at 1.4990 and 1.4960. The panic will be triggered below 1.4950 towards 1.4560 initially. Until the prices close below 1.5200, the near-term bearish view remains on play. Until the prices close below 1.5300, the intra month bearish view remains on play. We recommend intraday buying above 1.5080 with targets at 1.5120 and 1.5170. The strong momentum will ignite only above 1.5170. In Friday�s article, we recommended selling below 1.5190 with targets at 1.5170, 1.5140 and 1.5100. The cable made a low at 1.5032.

Resistance: 1.5070, 1.5175, 1.5200.

Support: 1.5030, 1.4990, 1.4950.

Trade: selling below 1.5030.

GBP/JPY

Japan's fourth quarter GDP rose less than expectated. The economy grew 0.4% in Q4 GDP. At Friday�s session, the cross broke below 20Wsma and closed below it. The pair made a double top at 185.00. The cross broke and closed below the strong support base of 183.50. These factors represent bearish views, the last hope lies at 181.20. The weekly support is seen at 181.47 and 181.20 or 50Dsma. Today at the Asian session, the cross managed to hold the previous day�s low. The intraday support is found at 181.47. On a monthly basis, until the cross closes above 181.20, the long trade remains in play. Bulls are trying to close above 183.25 on a weekly basis. For an intraday view, we recommend buying with sl 181.20 with targets at 182.20 and 182.50. We can expect strong intraday momentum above 182.50. Safe buying will be triggered above 182.00. Besides, you are recommended to sell below 181.20 with targets at 181.10 and 180.50. We can expect strong momentum only above 184.00. Trading is shifted to 181.50 and 184.00 from 185.00 and 183.50. The panic will be triggered below 181.50 towards 181.00 and 180.00 odd levels.

Trade: buying sl 181.20.

Read more: https://www.instaforex.com/forex_analysis/57733/

Technical analysis of EUR/USD for March 16, 2015

When the European market opens, no economic news will be released from the eurozone, but the US will disclose the economic data on TIC Long-Term Purchases, NAHB Housing Market Index, Industrial Production m/m, Capacity Utilization Rate, and Empire State Manufacturing Index. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0536.

Strong Resistance:1.0529.

Original Resistance: 1.0519.

Inner Sell Area: 1.0509.

Target Inner Area: 1.0484.

Inner Buy Area: 1.0459.

Original Support: 1.0449.

Strong Support: 1.0439.

Breakout SELL Level: 1.0432.

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.

Read more: https://www.instaforex.com/forex_analysis/58031/

Technical analysis of USD/CAD for March 17, 2015

Overview:

The USD/CAD pair rebounded at the level of 1.2703 again and showed the signs of strength following the level of 1.2715. Additionally, the resistance was broken and turned into support at the same key level of 1.2703. Moreover, we expect a range between the levels of 1.2703 and 1.2823. It is equally important that the price is set above the support since the end of the last week. So, the support has been already set at the level of 1.2705 which is coinciding with the ratio of 88.2% Fibonacci retracement level. On the other hand, the weekly resistance is going to be set at the level of 1.2885. Hence, we expect a range around 180 pips (1.2885 - 1.2705) this week. Consequently, the pair has already formed a strong support at 1.2705. Therefore, the USD/CAD pair started showing the signs of bullish market, so that the market indicates the bullish opportunity at the level of 1.2705 with the first target of 1.2820 and continues towards the level of 1.2880. However, the stop loss should always be taken into account, so it will be wise to set your stop loss at the price of 1.2648.

Read more: https://www.instaforex.com/forex_analysis/58101/

Technical analysis of EUR/USD for March 18, 2015

When the European market opens, some economic reports will be released such as the German 10-y Bond Auction, Trade Balance, and the Italian Trade Balance. The US will reveal the economic data too such as the Federal Funds Rate, FOMC Statement, FOMC Economic Projections, and Crude Oil Inventories. So, amid the reports EUR/USD will move with medium to high volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0647.

Strong Resistance:1.0640.

Original Resistance: 1.0630.

Inner Sell Area: 1.0620.

Target Inner Area: 1.0595.

Inner Buy Area: 1.0570.

Original Support: 1.0560.

Strong Support: 1.0550.

Breakout SELL Level: 1.0543.

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.

Read more: https://www.instaforex.com/forex_analysis/58135/

Technical analysis of USD/JPY for March 19, 2015

In Asia, Japan will release data on all industries activity m/m while the US is expected to publish economic data about natural gas inventories, the CB Leading Index m/m, CB Leading Index y/y, current accounts, and unemployment claims. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.53.

Resistance. 2: 120.30.

Resistance. 1: 120.06.

Support. 1: 119.77.

Support. 2: 119.54.

Support. 3: 119.30.

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.

Read more: https://www.instaforex.com/forex_analysis/58187/

Technical analysis of GBP/USD for March 20, 2015


Overview:

The GBP/USD pair has been trading bearish since yesterday and started dropping form the level of 1.4990. Also, it should be noted that the price of the GBP/USD pair opened below the weekly resistance 1 at the level of 1.4761. Additionally, the double top is set at 1.4926 in H1 chart. Therefore, the market will probably indicate a bearish opportunity at the level of 1.4926 in the short term. According to the previous events, the price is going to move between the levels of 1.4926 and 1.4706. The level of 1.4688 is going to represent the double bottom and strong support is seen at the level of 1.4706. Therefore, the area below 1.4854 (minor resistance) looks for further decline with the first target at the level of 1.4704 and continues towards 1.4688 in order to test the double bottom. However, the stop loss should be placed at the price of 1.4993.

Intraday technical levels:

R3: 1.5260

R2: 1.5135

R1: 1.4940

PP: 1.4815

S1: 1.4620

S2: 1.4495

S3: 1.4300

Read more: https://www.instaforex.com/forex_analysis/58243

Technical analysis of USD/JPY for March 23, 2015

In Asia, Japan will not release any economic data. However, the US is expected to publish data on Existing Home Sales. So, there is a strong probability that the USD/JPY pair will move with low volatility at the Asian session, but with low to medium volatility at the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.70.

Resistance. 2: 120.46.

Resistance. 1: 120.23.

Support. 1: 119.94.

Support. 2: 119.71.

Support. 3: 119.47

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.

Read more: https://www.instaforex.com/forex_analysis/58301/

Technical analysis of EUR/USD for March 24, 2015


When the European market opens, economic data on the Belgian NBB Business Climate, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI is due for release. The US is expected to release data about Crude Oil Inventories, New Home Sales, Flash Manufacturing PMI, HPI m/m, Core CPI m/m, and CPI m/m. Amid the reports, the EUR/USD pair is likely to move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0997.

Strong Resistance:1.0991.

Original Resistance: 1.0980.

Inner Sell Area: 1.0969.

Target Inner Area: 1.0944.

Inner Buy Area: 1.0919.

Original Support: 1.0908.

Strong Support: 1.0897.

Breakout SELL Level: 1.0891.

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.

Read more: https://www.instaforex.com/forex_analysis/58340/

Technical analysis of GBP/CHF for March 25, 2015

Technical outlook and chart setups:

The GBP/CHF pair has dropped to 1.4200 levels as seen here. Furthermore, please note that the pair has found support at fibonacci 0.382 level, of the entire rally between 1.2830 and 1.5100 levels respectively. Short-term indicators are showing divergence and indicated a bounce/pullback from the current levels. It is hence recommended to initiate 50% long positions, with risk at 1.4100 levels. Immediate support is seen at 1.4000 levels, followed by 1.3850 and lower while resistance is seen at 1.4475 levels, followed by 1.4634 and higher respectively.

Trading recommendations:

Initiate 50% long positions, stop at 1.4100, a target is open.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/58422/