USD/CAD intraday technical levels and trading recommendations for September 9, 2013 Trend News

Two months ago, the USD/CAD pair rose steeply approaching the key resistance level of the ascending channel around 1.0530 as depicted in the chart. This happened when the pair established a consolidation range between 1.0450-1.0560 that expressed a false bullish breakout above 1.0555, which was followed by intensive bearish pressure that led to the breakdown of 1.0450 and 1.0380 with a record low of 1.0254.

As depicted in the chart, a prominent bottom was established around 1.0260. Since then, the pair has been bullish.

The bulls managed to break above 1.0460. That is why the price level of 1.0505 has been visited quickly.

Important level is located around 1.0505 (a previous mid-range). This was the key level for last week's movement as re-closure below it enabled the pair to reach 1.0455, where the lower limit of the depicted consolidation range is located.

The price level around 1.0455 remains the nearest considerable resistance for the pair, a valid SELL entry is recommended at retesting with SL located above 1.0500.

The nearst support zone is located around 1.0355-1.0345, where bullish pressure may be applied to push the pair again towards 1.0450.

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



For detail explanation and best discovery on market trends you may visit via USD/CAD intraday technical levels and trading recommendations for September 9, 2013 . Thanks for your support on USD/CAD intraday technical levels and trading recommendations for September 9, 2013

EUR/JPY H1 Analysis for September 9, 2013 Trend News

General overview for 09/09/2013 10:00 CET

The price has gap up after the weekend and now it is trying to hold the gap.

Any kind of acceleration to the downside after the gap is closed would confirm the impulsive bearish scenario. For more confirmation of downward wave i at 129.87 should be taken out and DEMAND area of 129.26 - 129.40 should be exposed for a test.

In higher time frames there is still a trendline that acts as resistance for the price (green line) and as long as there is no break out of this line this pair is still in complex triangle consolidation. That means the beige rectangle in the chart must be broken to confirm a breakout. A high of this zone is the 132.42 level.

Support/Resistance:

132.61 - WR1

132.42 - Swing High

132.16 - Intraday High

131.19 - Weekly Pivot

131.01 - Intraday Support

130.80 - Gap Low

130.26 - WS1

129.87 - Intraday Support

129.26 - 129.40 - DEMAND ZONE

Trading recommendations:

If the low of the gap will not hold, then shorts should be in play for intraday scalping entry with SL above the gap high and TP at 130.26 and even 129.87.

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



For detail explanation and best discovery on market trends you may visit via EUR/JPY H1 Analysis for September 9, 2013 . Thanks for your support on EUR/JPY H1 Analysis for September 9, 2013

#USDX Analysis for September 9, 2013 Trend News

The Dollar Index has broken down on Friday and is now trading just above 82.10. Raising the stop for bulls to 82.40 on Friday protected the long positions and the index is still trading lower. The upward move from 81.10 is most probably over and the index is now in a corrective movement.

This downward correction does not seem to be over yet. However, if prices break above 82.30, there might come a re-test of the recent highs. Prices are now trading in the vicinity of the previous 4th corrective wave of the upward wave from 81.10.

Prices are most probably making the 4th wave related to the previous 3 wave action from 80.76. The 5th upward wave should be expected this week towards 83. Concluding, we remain neutral after Friday waiting for new trading signals. Prices are expected to end the downward correction somewhere between 82 and 81.80. Breaking above 82.30 could be a bullish signal but we have to be very cautious as the correction seems incomplete. Longer-term view remains unchanged and bullish targeting the 84-85 price levels.

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



For detail explanation and best discovery on market trends you may visit via #USDX Analysis for September 9, 2013 . Thanks for your support on #USDX Analysis for September 9, 2013

Gold Elliott wave analysis for September 9, 2013 Trend News

Gold prices were very volatile on Friday. After reaching our 1,360 target, prices spiked upwards and reached 1,394. The resistance at 1,400 still holds and prices seem unable to break above that level.

Gold prices are expected to move lower once again as long as prices trade below the 1,400 resistance. The first bearish confirmation will come when prices break below 1,382. Next short-term support is found at 1,372 and then at 1,360. Our target will now be a new lower low towards 1,350-40. Short-term resistance is found at 1,394 and 1,400 and it is the most important one.

In the daily chart, there is evidence that as prices get near the blue upward sloping trendline, prices are supported. One more last leg down towards 1,350-40 can be seen during the start of the week, but breaking again above 1,400 will bring back buyers and a re-test of the highs. Concluding, we are cautiously bearish with 1,400 as stop. We target at 1,340-50 where the trendline is the support in the daily chart. Lower lows and lower highs confirm that the trend remains downward.

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



For detail explanation and best discovery on market trends you may visit via Gold Elliott wave analysis for September 9, 2013 . Thanks for your support on Gold Elliott wave analysis for September 9, 2013