Technical analysis of EUR/JPY for April 01, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair is testing the backside of support line at the moment around 142.00/50 region. A reversal is expected from current levels towards downside extensions below 136.00. Also, as seen here, the triangle/cone resistance line is around 143.00 region. Bears would remain in control below 144.00 levels here. Recommendations are to remain short, risk remains at 144.00

2. Resistance is at 143.80/144.00 levels, followed by 145.50 while support is at 140.00 (intermediary), followed by 138.50, 136.00, 134.00 and lower respectively.

3. The structure indicates that bears should regain control below till prices remain below 144.00 levels. On the flip side, a break of 143.50 would confirm a bullish break towards fresh highs.

Trading recommendations:

Remain short for now, stop is at 144.00, target is open.

Good luck!

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Technical analysis of Gold for April 01, 2014 Trend News

Gold prices may recieve support from the Asian physical demand, but ultimately we would expect the rising costs of production to provide a floor under which gold prices will stop falling. As these rising costs of production catches up with the price of gold, so prices will form a base and eventually begin moving higher once more.

In the Asia's trading session, gold is trading at $1,282. Before I have started writing this report, gold dropped to $1,277 and then pulled back. Due to oversold levels in the H1 and H4 chart, gold pulled back from the lower levels. As I recommended earlier, gold will gain some buying support between $1,279-$1,260 levels. In the H1 chart, the price is making some base around the level of $1,282. I prefer to go long with sl at $1,277 for targets at $1,287, $1,291, and $1,293 levels. On the upside, $1,294 is the strong resistance level for intraday perspective, above this the price will push towards $1,298 and $1,304 levels. On the down side, if the price breaks the $1,277 levels, go short for targets at $1,270, $1,265, and $1,261 levels.

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Technical analysis of USD/CAD for April 01, 2014 Trend News

The pair has been in a down trend from 1.1279. On an intraday basis, if we go through the hourly charts (H1, H4), the pair is taking support at the level of 1.1. For the last couple of hours, the pair has been in consolidation mode and faced resistance at the upper purple line (H1). If the pair gives a breakout above the purple line, it will fly up to 1.11. In Asia's trading session the pair is trading at 1.1051. If the pair trades above the 1.11 level, it will move a bit more upwards towards 1.1169 on an intraday basis. On the down side the 50SMA level of 1.1043 is the key level. If this level breaks, then we will again go back to 1.1 levels, below this, 1.0955 and 1.0910 levels on an intraday basis. If the price breaks the 1.0910, we need to re-analyze the hourly chart for lower levels towards 1.0843 and 1.0589 levels.

INTRADAY-

In the H1 chart, the pair is facing resistance at 1.1056. We recommend entering long positions once the pair trades above the 1.1056 levels for the targets of 1.1078 and 1.11. If the pair croses the 1.11 levels, we will see some more upside towards 1.1170 and 1.12 levels.

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Analysis of GBP/USD for April 01, 2014 Trend News

The cable moved higher after the Federal Reserve Head speech. Ms. Yellen said the U.S. economy and job market are still far from healthy condition, and still require plenty of support from the central bank’s low-interest-rate policy. The unemployment rate currently stands at 6.7%, well above the 5.2%-5.6% range that the Fed officials see as normal. Annual inflation is running just above 1%, well below the central bank’s official 2% target.

Traders eye today's manufacturing PMI data. The geopolitical tensions in Ukraine made an impact on manufacturing and new orders. In the other hand the domestic service and retail sector will show a good strength. The manufacturing output index has been in a down trend for the last 6 months. This time we can see a humble decline in March.

Technical view-

Weekly basis

The pair has been continuing its 6-day winning steak. Due to the overbought conditions in the H4 chart, the pair didn't fly to higher levels. As of now, the pair is trading at the 1.666 levels. We can see the new targets immediately at 1.6718, and later at 1.6741 and 1.6786 (intraday) once the candle close above the 1.666 level in H4 chart. On the down side, support exists at 1.6620, 1.6589, and 1.6556 levels. RSI favors bears. Until the pair closes above the 1.666, sit on sell side is the best strategy.

S1 1.66 R1 1.666 (CB)

S2 1.6589 R2 1.6718

S3 1.6556 R3 1.6741

Weekly trend will change once the candle will close above the level of 1.6718 (R2 and break down level) in the H4 chart.

On the positional basis, if the pair come out of the trading range and gives a breakout above the level of 1.6741, we will see 1.6823 and 1.695 in coming trading days.

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Technical analysis of AUD/USD for April 01, 2014 Trend News

The Reserve Bank of Australia is once again expected to leave the cash rate unchanged at a record low of 2.5%. The market is very interested in what the RBA has to say about the Australian dollar, given that at the current levels, the exchange rate is higher than the level back in December 2013, when the RBA described it as "uncomfortably high." The Aussie is currently trading around $0.9266, close to the highs of this year.

Technical view

Weekly basis-

AUD/USD is trading at 0.9267 in Asia. The pair is trying to cross above the purple line. For bulls, you can enter longs only above the purple line (0.9280 likely). On the down side the key level is at 0.92537. For hourly trading perspective, the pair will become weak below the 0.92537 level. Below the key level, it will travel towards 0.9234, 0.92, 0.916, and 0.9066 levels. In the H4 chart, RSI is not favoring bulls. So, its better to take longs once it breaks above the purple line or wait for a correction.

On the upside, once the pair breaks and closes one candle above the purple line, the bulls will become active again and they will push the pair towards 0.9334, 0.9450 levels.

Positional basis-

The pair has given an upside break out at the level of 0.9154 and crossed the 200EMA level. Due to the overbought conditions in the daily charts, the pair is struggling to cross the previous high at 0.9294, and we can expect the upside targets to be postponed for a couple of days. If any positive news favors the pair, then we will see a huge up move towards the levels of 0.9540 and 0.9570. In our previous reports, we gave a buy call at 0.9154 for targets at 0.926 and 0.9575. On the down side, support exists at 0.92367 (200EMA), which is a crucial level for the bulls to hold. A move below this will make the pair weak and it will correct up to 0.9145 and more in coming days.

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Technical analysis of GBP/CHF for April 01, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair is just taking its head out of the resistance line seen here, trading around the sub 1.4700 mark for now. A push through 1.4780 levels from here would invalidate the bearish view, that was discussed yesterday. For now, recommendations are to remain short, risk remains above 1.4870 levels. If prices manage to come back into the sell zone of the resistance line again, the pair would confirm further downside towards 1.4350.

2. Resistance is seen at 1.4870, followed by 1.4970/60 and 1.5120/30 on the higher side, while supports are spread through 1.4470 (intermediary), followed by 1.4350 and lower respectively.

3. The structure indicates that GBP/CHF would continue to remain bearish only if prices return below the 1.4700 mark.

Trading recommendations:

Remain short for now, set stop at 1.4880, target is 1.4350 and lower.

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Technical analysis of Silver for April 01, 2014. Trend News

Technical outlook and chart setups:

1. The 8H chart view for Silver indicates that there is no change in the structure of price range for now. At this moment of writing, Silver trades at $19.70/72 levels; and is expected to stage rally. Also please note that the trend line support remains intact for now.

2. Supports are spread through $19.00 levels, followed by $18.75 and lower, while resistance is at $21.70/80/$22.30/40 (intermediary), followed by $23.00 and higher up respectively.

3. The structure indicates that bulls remain in control above $19.00 levels for now. Silver should probably rise towards $23.00 and higher levels for now.

Trading recommendations:

Remain long for now and also look to add fresh positions, place stop at $19.25, target is open.

Good luck!

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Technical analysis of Gold for April 01, 2014. Trend News

Technical outlook and chart setups:

1. Gold has tested lows just below the $1,280.00 mark today, before pulling back. The 8H chart view is producing a doji candle stick pattern, which still indicates a possible reversal on cards. It is hereby recommended to initiate 50% long positions at current price ($1,285.30) and remaining 50% around the $1,250.00/60.00 mark. Risk is below $1,240.00 for now.

2. Immediate support is seen at $1,230.00/40.00 levels, followed by $1,210.00 and $1,180.00 while resistance is seen at $1,350.00 (trend line support turned resistance), followed by $1,388.00 respectively.

3. The structure indicates that Gold is poised to stage a rally from current levels or $1,260.00 region. Also note that the 0.618 fibonacci support is also passing through the same region. Buying on dips remains the trade strategy.

Trading recommendations:

Buy 50% now ($1,285.00), set stop below $1,240.00, target is at a new high.

Short-term trading: Buy now, with stop at $1,275.00 and target at $1,300.00/$1,330.00, and $1,350.00.

Good luck!

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Technical analysis of EUR/USD for April 01, 2014 Trend News

When the European market opens, some economic news will be released such as Spanish Manufacturing PMI, Italian Manufacturing PMI, German Unemployment Change, Final Manufacturing PMI, Italian Monthly Unemployment Rate, Unemployment Rate, ECOFIN Meetings.The US will release the economic data too such as the Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, ISM Manufacturing Prices, otal Vehicle Sales, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3840.

Strong Resistance:1.3831.

Original Resistance: 1.3818.

Inner Sell Area: 1.3805.

Target Inner Area: 1.3772.

Inner Buy Area: 1.3739.

Original Support: 1.3726.

Strong Support: 1.3713.

Breakout SELL Level: 1.3704.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3726 and 1.3818. The rate is accompanied by strong support at 1.3713 and by 1.3831 as strong resistance.

If EUR/USD breaks out and closes below the 1.3704 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3840 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3739 and at 1.3805, a SELL position. In this case both targets should be placed at the level of 1.3772.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

For more analysis go to: blog.mt5.com/arief

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 April 01, 2014 Trend News

In Asia, Japan will release the Tankan Manufacturing Index, Tankan Non-Manufacturing Index, Average Cash Earnings y/y, 10-y Bond Auction and the US will release some economic data such as Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, ISM Manufacturing Prices, Total Vehicle Sales. So there is a big probability the USD/JPY will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 103.79.

Resistance. 2: 103.58.

Resistance. 1: 103.38.

Support. 1: 103.13.

Support. 2: 102.93.

Support. 3: 102.72.

DESCRIPTION:

Please, pay attention to the levels of support 3 (102.72) and resistance 3 (103.79). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

For more analysis go to: blog.mt5.com/arief

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



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Daily analysis of USDX for April 01, 2014 Trend News

Daily chart: The USDX remains below the resistance level of 80.11. However, the USDX is forming a bullish pattern at the current levels, so the USDX is trying to climb up the 200 SMA. However, if the USDX manages to consolidate below the 80.11 level, it would be expected to fall to a support level of 79.19. The MACD indicator is in positive territory.

H4 chart: The USDX has fallen to the 200-day moving average near the support level of 80.09. If the USDX manages to consolidate below this level, it would be expected to fall to the level of 79.93. On the other hand, if the USDX does make a breakout on the resistance level of 80.15, it's expected to rise to the level of 80.25, at which one bearish trend line is. The MACD indicator is in negative territory.

H1 chart: The USDX has made a bullish rebound above the 200-day moving average, after the USDX has found resistance near to the 80.30 level. However, the USDX is trying to make a breakout on the resistance level of 80.15 If successful, it is expected to rise to the level of 80.35. The MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 80.15, take profit is at 80.35, and stop loss is at 79.96.

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Daily analysis of GBP/USD for April 01, 2014 Trend News

Daily chart: This pair stays above the bullish trend line and now, the GBP/USD is trying to make a breakout on the resistance level of 1.6663. If successful, it is expected to rise to the level of 1.6766. However, keep in mind that the GBP/USD is overbought in other charts, so it is likely that this pair will begin making corrective movements. The MACD indicator is in positive territory.

H4 chart: The GBP/USD has consolidated above the support level of 1.6644. If the pair manages to make a breakout on the resistance level of 1.6667, it's expected to rise to the level of 1.6735, where the bearish trend line is. However, if the pair manages to make a breakout in the support level of 1.6644, it's expected to fall to the level of 1.6592, where the 200-day moving average is located. The MACD indicator is in the overbought zone.

H1 chart: The GBP/USD remains above the 200 SMA and now this pair is forming a POC at the current levels. For now, this pair is forming a lower high pattern to make a breakout on the resistance level of 1.6700. If successful, it is expected to rise to the level of 1.6750. The MACD indicator is in negative territory.

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 1.6700, take profit is at 1.6750, and stop loss is at 1.6650.

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Elliott Wave Analysis of USD/CAD for April 01, 2014 Trend News

USD/CAD Elliott Wave
Last week, the USD/CAD pair was trading downwards, corrective wave C (coloured blue) of the bigger wave (X) (coloured red) was developing. In the chart above, we can observe that the USD/CAD pair has proved to be an impulsive wave, and from five required waves, we have only four completed so far. While the price stays below the 1.1120 level, we are going to look for one more selling opportunity in the [v] wave (coloured black). In accordance with our wave rules and taking into account that wave C should extend 123.6% of wave A, we can define the potential targets with measuring wave A with take profit at 1.0890 (123.6% of wave A). Swing traders need to wait a new low to get reached, before we try another long opportunity.



Alternate count: Corrective wave [iv] (coloured black) is still developing, and if this count takes place, we are going to see a few more sessions in the sideways consolidation, before the price turns lower. But as you can see, we would like to see more downward movements in the pair, before we see another push higher.



Support and Resistance

(S3) 1.0901, (S2) 1.0957, (S1) 1.0993, (PP) 1.1049, (R1) 1.1085, (R2) 1.1141, (R3) 1.1177.



Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin downward movements. That is why short positions at the level of 1.1020 with stop loss at 1.1150 and take profit at 1.0890 are recommended.

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Elliott Wave Analysis of AUD/USD for April 01, 2014 Trend News

AUD/USD Elliott Wave
Since our last analysis, the AUD/USD pair has continued to trade downwards, just like we expected, corrective wave (iv) (coloured green) of the bigger wave [iii] (coloured black) has been developing. In the 1-hour chart of the pair, we can see that we have completed corrective wave (iv) few pips below 23.6% of the (iii) wave, this is usual target for the potential end of the (iv) wave, and we are currently in the final (v) of [iii] wave. Intraday traders should look for a buying opportunity towards the 0.9340 level - inverse 161.8% of (iv) wave, while the price remains above Monday's low at the 0.9216 level, and swing traders should wait for a pullback in [iv] wave before we try another long position in the final [v] wave. In accordance with our wave rules and taking into account that wave [iv] should retrace 38.2% of wave [iii], we can define the potential targets with measuring wave [iii] with take profit at 0.9180 (38.2% of wave [iii] ).



Support and Resistance

(S3) 0.9170, (S2) 0.9191, (S1) 0.9228, (PP) 0.9249, (R1) 0.9286, (R2) 0.9307, (R3) 0.9344.



Trading forecast
Proceeding from Elliot Wave rules today, the trend is expected to begin the upward movements. That is why long positions at the level of 0.9270 with stop loss at 0.9216 and take profit at 0.9340 are recommended.

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Technical analysis of USD/JPY for March 31, 2014 Trend News

Overview:

USD/JPY is expected to trade in a higher range. It is underpinned by the weaker yen sentiment ahead of Japan's national sales tax increase to 8% from 5% on April 1; yen-funded carry trades amid positive investor risk appetite (VIX fear gauge eased 1.44% to 14.41; S&P rose 0.46% Friday) as speculation mounts that policymakers in China would take stimulus steps to boost the economy after China's Premier Li Keqiang said the country's economic growth should be maintained at a "reasonable pace." USD/JPY is also supported by the demand from Japan importers and investment trusts; loose monetary policy of the Bank of Japan and higher U.S. Treasury yields; positive dollar sentiment (ICE spot dollar index last 80.19 versus 80.13 early Friday after stronger-than-expected 0.3% increase in U.S. February personal income (versus +0.2% forecast), a 0.3% increase in personal spending in February and a 1.1% rise in PCE price index on a yearly basis in February. That shows that the U.S. economy may be thawing out after a cold, snowy winter across the country. But the USD/JPY gains are tempered by Japan's exports.

Technical сomment:
Daily chart is positive-biased as MACD and stochastics is bullish, bullish parabolic stop-and-reverse signal hit on Friday, five-day moving average was rising above 15-day MA.

Trading recommendation:
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 far as the price is above its pivot point, a long position is recommended with the first target at 103.45 and the second target at 103.75. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 102.40. A breach of this target will push the pair further downwards and one may expect the second target at 101.90. The pivot point is at 102.60.

Resistance levels:

103.45

103.75

104

Support levels:

102.40

101.90

101.35

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Technical analysis of USD/CHF for March 31, 2014 Trend News

Overview:

USD/CHF is expected to consolidate after hitting one-month high at 0.8899 on Friday. It is undermined by the franc demand on buoyant CHF/JPY cross. But USD/CHF downside is limited by the positive dollar sentiment and the dovish monetary policy of the Swiss National Bank. Daily chart is still positive-biased as MACD and stochastics is bullish, although latter is at overbought zone, five-day moving average is above 15-day MA and is advancing.

Trading recommendation:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.8810. A breach of this target will move the pair further downwards to 0.8785. The pivot point stands at 0.8875. In case the price moves in the opposite direction and bounces back from support level, and then it moves above its pivot point, it is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.89 and the second target at 0.8930.

Resistance levels:

0.89

0.8930

0.8960

Support levels:

0.8810

0.8785

0.8765

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Technical analysis of GBP/JPY for March 31, 2014 Trend News

Overview:

GBP/JPY is expected to trade in a higher range. It is supported by the positive risk appetite and weak yen sentiment, demand from Japan importers and loose monetary policy of the Bank of Japan. But the GBP/JPY gains are tempered by Japan's exports. Daily chart is mixed as MACD is bearish; but stochastics is turning bullish at oversold zone, bullish outside-day-range pattern was completed on Friday.

Trading recommendation:
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 far as the price is above its pivot point, a long position is recommended with the first target at 172.10 and the second target at 172.55. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 170.30. A breach of this target will push the pair further downwards and one may expect the second target at 169.60. The pivot point is at 170.80.

Resistance levels:

172.10

172.55

173

Support levels:

170.30

169.60

160

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Technical analysis of NZD/USD for March 31, 2014 Trend News

Overview:

NZD/USD is expected to consolidate in a lower range after hitting two-and-a-half year high at 0.8698 on Friday. It is undermined by the positive dollar sentiment. But NZD/USD losses are tempered by the kiwi demand on NZD/JPY cross amid the risk appetite and weak yen sentiment, buoyant commodity prices, kiwi demand on soft AUD/NZD cross, hawkish monetary policy of the Reserve Bank of New Zealan and hope for further stimulus in China. Daily chart is still positive-biased as MACD and stochastics are bullish, five- and fifteen-day moving averages are advancing, although bearish shooting-star candlestick pattern was completed on Friday.

Trading recommendation:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.8620. A breach of this target will move the pair further downwards to 0.8585. The pivot point stands at 0.8695. In case the price moves in the opposite direction and bounces back from support level, and then it moves above its pivot point, it is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.8720 and the second target at 0.8750.

Resistance levels:

0.8720

0.8750

0.8780

Support levels:
0.8620

0.8585

0.8565

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EUR/NZD analysis for March 31, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.5957 on average volume. According to the daily chart, we can observe weak demand on volume below the average, which is a sign that we may see more downward movement before the stronger buying reaction. The price is now testing the level of 1.5940 (Fibonacci retracement 38.2%). If the price breaks that level of 1.5940 on higher volume, we may see potential testing the level of 1.6050 (Fibonacci retracement 61.8%). Price rejected from our Fibonacci expansion 161.8% level at the price of 1.5810 and that caused price to start bullish correction. Watch for selling opportunities after retracement..

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5899

R2: 1.5930

R3: 1.5980

Support levels:

S1: 1.5799

S2 : 1.5768

S3: 1.5718

Trading recommendation: Be careful with buying the EUR/NZD and watch for selling opportunities after retracement.

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Gold analysis for March 31, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,285.46 on average volume. Our previous analysis is still active and we got good progress. According to the daily chart, we can observe no demand bar on volume below the average, which is a good sign for the further downward movement. There is an also broken upper channel in the background, which is another good sign for potential bearish movement. Gold is in progress of bearish corrective phase and I've placed Fibonacci Retracement to find the first down station. I got major Fibonacci Retracement 38.2% at the price of 1,312.00 (already met) and Fibonacci Retracement 61.8% at the price of 1,263.00. We can also observe previous swing high zone at the price of 1,279.00, which may be a good support zone for gold. Next down stations on short-term prospective are the levels of 1,279.00-1,263.00. Be careful with short-term buying and watch for selling opportunities after retracements. According to the H4 timeframe, we got supply bars on volume above the average so buying at this stage looks very risky.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,298.16

R2: 1,299.44

R3: 1,301.50

Support levels:

S1: 1,294.04

S2: 1,292.76

S3: 1,290.70

Trading recommendation: Trading the metal, be careful with buying at this stage since gold is in progress of bearish corrective phase. Watch for selling opportunities after retracement.

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Intraday technical levels and trading recommendations for GBP/USD for March 31, 2014 Trend News

A Double-Top pattern scenario was executed with the neckline located around the price zone of 1.6620-1.6660.

Daily fixation below this price zone enabled the pair to reach 1.6464 (61.8% Fibonacci) as a projection target.

The recent achieved low at 1.6465 prevented further decline. However, there is still no sure signals of long-term bullish reversal.

Four-hour fixation above 1.6666-1.6690 will probably signal weakness of the bears to pursue their downtrend exposing price level of 1.6775 for retesting.

On the other hand, price zone of 1.6666-1.6690 will probably offer a valid SELL entry. Stop Loss should be four-hour closure above 1.6700.

A slide below 1.6595 ( previous top established on January 2) will probably expose 1.6500 and 1.6470.

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Intraday technical levels and trading recommendations for EUR/USD for March 31, 2014 Trend News

Daily Fixation below 1.3850 gathered significant bearish pressure enough to breakdown the lower limit of the daily bullish channel.

At the end of the previous week, there has been a minor Intraday Demand level expressed at 1.3750 (the depicted uptrend line ) which paused the recent slide off 1.3965.

Four-Hour candlestick fixation above 1.3790 signals a temporary bottom that will target at 1.3850 initially again.

Price Level 1.3850-1.3870 remains a significant supply zone. It provided a valid SELL entry at the previous retesting on March 24.

On the other hand, failure to fixate above 1.3790 will expose the recent low established at 1.3700.

A slide below which opens the way towards lower lows located at 1.3660 and 1.3640.

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EUR/AUD intraday technical levels and trading recommendations for March 31, 2014 Trend News

Since February 4, the EUR/AUD pair has been moving sideways with a slightly bullish tendency. This movement was maintained within the depicted bullish channel.

On March 12, the bulls failed to establish an ascending top. Instead, a double-top reversal pattern was established at 1.5500. The neckline was located at 1.5200-1.5170.

Success of the double-top pattern not only achieved its projection target at 1.4820-1.4800 but confirmed a bigger Head and Shoulders pattern as well.

The bears managed to breakdown 1.4950 corresponding to 50% Fibonacci level last week ( nearest Support level ). This exposes price level of 1.4750 ( 61.8% Fibonacci ) to be tested shortly after.

On Friday, the pair dipped at 1.4785 when bullish recovery took place to push again towards 1.4950-1.4990 ( also previous prominent bottom is located there ).

Price zone of 1.4950-1.4990 should keep price below in order to pursue the ongoing bearish momentum. Otherwise, sideway consolidations may be prolonged.

On the long-term prospective, projection targets of the H&S reversal pattern end roughly at 1.4350.

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USD/CAD intraday technical levels and trading recommendations for March 31, 2014 Trend News

Previous congestion zone of 1.0900 - 1.0950 provided considerable support at retesting on February 19. This led again towards 1.1190 where the USD/CAD pair established a consolidation zone between 1.0960 and 1.1190.

The depicted chart shows that the USD/CAD pair didn't apply enough bullish momentum above 1.1200. As expected, this exposed price zone of 1.1000-1.1020 as a sign of bearish domination.

In case the current support doesn't hold price above, the next support zone to meet the pair is located at 1.0960-1.0900 which comes to meet the uptrend line initiated on September 19. It's expected to provide considerable bullish pressure.

On the other hand, price zone of 1.1130-1.1150 is expected to provide considerable resistance as well. This price zone corresponds to previous tops established in March 12, February 21 and January 30. Any further visiting will probably offer a valid SELL entry with Stop Loss located just above 1.1185.

The pair remains trapped between price levels of 1.1000 and 1.1150 until breakout takes place in either direction. Bearish breakout is more likely to occur.

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Technical analysis of NZD/USD for March 31, 2014 Trend News

Technical outlook and chart setups:

1. The NZD/USD pair can be said to be pulling back at the moment, from its recent swing highs at 0.8700 levels. Please note that this region has triggered major reversals in the past as well. Short term view indicates that bulls shall remain in control till prices are above 0.8500. It is recommended to buy around 0.8580 levels (only) on a bullish reversal.

2. Immediate support is at 0.8500/20, followed by 0.8420, 0.8250 and lower while resistance is seen at 0.8700/50 and 0.8800 respectively.

3. The structure indicates that NZD/USD should continue to print higher highs and higher lows till prices are above 0.8500 levels. On the flip side, a break of 0.8500 would indicate a top is formed and rallies should be sold there after.

Trading recommendations:

Looking to buy lower. 0.8500 remains the key.

Good luck!

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USD/CAD intraday technical levels and trading recommendations for March 28, 2014 . Trend News

Previous congestion zone between 1.0850 and 1.0960 provided a considerable support at retesting on February 19. This led again towards 1.1190 where the USD/CAD pair established a consolidation zone between 1.0960 and 1.1190.

The USD/CAD pair didn't show enough bullish momentum above 1.1200. As expected, this indicated lack of enough bullish momentum in the market.

Failure to push above 1.1190 exposed the previous support zone of 1.1020 - 1.1190. Thus, the pair returned to test the lower limit at 1.1020.

In case the current support doesn't hold price above, the next support level to meet the pair is located at 1.0960 which comes to meet the uptrend line initiated on September 19. It's expected to provide considerable bullish pressure.

Daily fixation above 1.1020-1.0090 enables the bulls to push higher towards 1.1090 then 1.1150.

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Technical analysis of AUD/USD for March 31, 2014 Trend News

Technical outlook and chart setups:

1. The AUD/USD pair is facing resistance around 0.9300 levels as seen here. The pair is putting up a bearish trade signal here, which indicated that bears may resume lower from here. Also, the past support turned resistance is around 0.9300 levels as seen here. Recommendations are to initiate short positions here (0.9232), risk remains at 0.9450 for now.

2. Immediate resistance is at 0.9450, followed by 0.9550 and 0.9750 while supports are spread through 0.9150, followed by 0.9000 and lower.

3. The structure indicated that bears might resume lower towards 0.8000 levels soon. The weekly setup indicates that prices would form bottom around 0.7950/0.8000 levels before the uptrend resumes.

Trading recommendations:

Short now, stop is at 0.9450, target is open.

Good luck!

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Technical analysis of USD/CHF for March 31, 2014 Trend News

Technical outlook and chart setups:

1. The USD/CHF pair seems to have bottomed out at the 0.8700 levels recently. Furthermore, bulls have managed to take out first resistance as well at 1.8900 levels. At the moment, prices are expected to pullback towards 0.8780 levels before the next rally resumes. It is recommended to look to go long at lower levels.

2. Immediate support is at 0.8780 (the 0.618 fibonacci level), followed by 0.8700 while resistance is at 0.8930, followed by 0.9030 and higher up respectively.

3. The structure indicates that USD/CHF is retracing at the moment and bulls are expected to resume rally from around 0.8800 levels again. Immediate top side is seen at 0.9020 and 0.9200.

Trading recommendations:

Looking to buy lower around 0.8780, stop is below 0.8700, target is open.

Good luck!

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Technical analysis of EUR/USD for March 31, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/USD has resumed its retracement as was expected earlier. The drop from 1.3960 is impulsive and correction was due. Please note that this rally needs to be sold around 1.3850/60 levels. Recommendations for now is to remain flat and wait to sell higher.

2. Immediate resistance is seen at 1.3850, followed by 1.3960, while supports are spread through 1.3700/20, followed by 1.36 and lower respectively.

3. The structure indicates that EUR/USD should correct itself towards 1.3850 levels. Bears are expected to take back control from those levels. The expected downside extensions are 1.35 and 1.32.

Trading recommendations:

Sell around 1.3850, stop is at 1.3970, target is open.

Good luck!

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Technical analysis of EUR/JPY for March 31, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair seems to be pulling back before giving it up to bears again. The 142.00 region is also back side of the counter uptrend line, that is acting as resistance now. It is recommended to remain short for now and also look to add further short positions around 142.00/20 levels.

2. Immediate resistance is at 144.00, followed by 145.50, while supports are spread through 138.50/136.00, followed by 134.00, 132.00 and lower respectively.

3. The structure indicates that EUR/JPY should be heading lower till 144.00 levels remain intact. A reversal here should drag prices lower towards 132.00 and 130.00 levels at least.

Trading recommendations:

Remain short for now. Stop is at 144.00, target is open.

Good luck!

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Technical analysis of USD/CAD for March 31, 2014 Trend News

General overview for 31/03/2014 12:15 CET

The impulsive wave progression to the downside has been finished and now this pair is in corrective cycle. The first target level for a simple abc green correction is at the level of 1.1104, the previous wave 4 red area. In case of the upside extension there is red trendline resistance somewhere in the area of the 50% Fibo level at 1.1139. Please notice the the upside correction might be complex and time consuming and the would be nothing wrong with the corrective rally up to the level of 1.1171.

Support/Resistance:

1.1182 - WR1

1.1172 - 61%Fibo

1.1139 - 50%Fibo

1.1121 - 1.1104 - Technical Resistance

1.1090 - Weekly Pivot

1.1042 - Intraday Support

Trading recommendations:

Sell Limit orders should be opened from the level of 1.1104 with SL above the level of 1.1123 and TP at the level of 1.1042 with a possible downside extension.

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Technical analysis of GBP/CHF for March 31, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair is seen to be reversing right at the trend line resistance. It is currently trading at 1.3700 levels and is expected to continue drifting further down. Aggressive trade setup would be to initiate short positions now, risk remains above 1.4850. More conservative approach is to remain flat and allow the bearish setup to complete.

2. Immediate resistance is at 1.4850/60, followed by 1.4950 and 1.5120 while supports are spread through 1.4470, 1.4350 and lower respectively.

3. The structure indicates GBP/CHF maybe preparing to resume its downtrend that had broadly begun from the 1.5120 levels. Prices should come down towards the mid 1.4600 levels to confirm the same though.

Trading recommendations:

Aggressive trade setup would be to short at the current price, stop is at 1.4850/60, target is open. Conservative setup would be to remain flat.

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Technical analysis of EUR/JPY for March 31, 2014 Trend News

General overview for 31/03/2014 10:50 CET

The triangle wave X idea failed after market rally last Friday, so the count has been modified. The current structure is more complex in time and price wave (b) blue and current wave progression looks like (a)(b)(c) Irregular Flat wave X black. The key level to the upside is grey rectangle area between the levels of 142.22-142.30. As there is a longer term red descending trendline, gold ascending trendline and WR1 pivot level, it makes this zone very important for a future price development. Any breakout higher above this level would indicate the last swing high at the level of 143.79 will be tested. On the other hand, bears need to break below the level of 141.26 to confirm a bulls failure.

Support/Resistance:

144.38 - WR3

143.79 - Swing High

143.13 - WR2

142.46 - WR1

142.22 - 142.30 - Key Level

141.66 - Intraday Support

141.26 - Key Level for Bears

141.22 - Weekly Pivot

140.55 - WS1

Trading Recommendations:

Sell Limit orders should be opened from the level of 142.22 with SL above the level of 142.31 and TP at the level of141.96 and 141.66.

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Weekly technical levels of EUR/USD for March 31, 2014 Trend News

Weekly technical levels of the EUR/USD pair.

Notes :

• Strong resistance will be set at the level of 1.3849.


• The double top is going to set at 1.3875 level.


• The price hit the weekly pivot point and the support 1 last week.


• We expect a range of 210 pips this week.


• The weekly pivot point (1.3777) represents the key level this week.

Forecast :

• According to the previous events, the price of the EUR/USD pair has still been moving between 1.3730 and 1.3777.


• Sell above the price of 1.3850 in the long term with the first target at 1.3790, it might resume to 1.3700 if the trend will be able to break the weekly pivot point at 1.3777.

Weekly technical levels :

Date & Time: 31/03/2014 11:55

Pair: EUR/USD

• Projected high: 1.4131


• Breakout (buy stop): 1.4076


• Strong resistance (sell limit): 1.4046


• Current pivot: 1.3790


• Strong support (buy limit): 1.3533


• Breakout (sell stop): 1.3508


• Projected low: 1.3458

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Technical analysis of Silver for March 31, 2014. Trend News

Technical outlook and chart setups:

1. Silver is ready to resume rally any moment now. Currently trading just below $20.00 levels, Silver is expected to move towards $23.00 and $25.00 levels. It is recommended to remain long for now, and also add further at current levels.

2. Immediate resistance is at $21.70/$22.30 levels, followed by $23.00 and higher up, while supports are spread through $19.00, $18.75 and lower respectively.

3. The structure indicates that Silver should continue printing higher highs and higher lows from here on. The counter trend line resistance is at $21.40 at the moment and a push through it should be very encouraging for bulls.

Trading recommendations:

Remain long for now, place stop at $19.25, target is open.

Good luck!

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Weekly technical levels of GBP/USD for March 31, 2014 Trend News

Technical levels of the GBP/USD pair.

General idea about the pivot point .

• Resistance 3 and support 3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well in the sideways markets, as the prices are most likely to be located between the resistance 1 and support 1 lines. Within a strong trend, the price is expected to be lower than the pivot point line and continue moving. If the breaking news released may affect the market, the price is likely to go straight through resistance 1 or support 1 and even reach resistance 2 and resistance 3 or support 2 and support 3. If the trend breaks resistance or support through, it is likely to result in a significant price movement, it is also referred to as breakout.

Trading recommendations :

• The GBP/USD pair is still moving between 1.6585 and 1.6690. So, it should be noted that the weekly pivot point will set at the level of 1.6585. Moreover, the weekly point had already formed the strong support at this area. Therefore, buy at the level of 1.6585 with the first target at the 1.6650 price (the level of 1.6650 is representing the double top), then it will call for uptrend in order to continue its bulish movement towards 1.6705 to test the weekly resistance 1. Notwithstanding, the stop loss should be placed at the level of 1.6550. If the trend fails to close below the level of 1.6550, it will a good sign to sell at this level in the short term with targets at 1.6519, then it is going to continue towards the 1.6470 price.

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Technical analysis of Gold for March 31, 2014 Trend News

Technical Outlook and chart setups:

1. Gold is seen to be forming bottom around $1,285.00/90.00 levels at the moment. A counter trend rally need to materialize towards $1,350.00 levels atleast. Please note that the trend line resistance is also around the same region. It is recommended to initiate short positions around $1,350.00 levels, risk remains at $1,388.00 for now.

2. Immediate resistance is around the $1,350.00/60.00 region, followed by $1,388.00 while supports are spread through $1,230.00/40.00, followed by $1,210.00 and lower respectively.

3. The wave structure indicates, that Gold should be correcting in 3 steps towards $1,250.00/60.00 levels. Rallies towards $1,350.00 should be sold for now.

Trading recommendations:

Initiate short positions at $1,350.00, set stop at $1,388.00, target is at $1,260.00

Good luck!

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#USDX technical analysis for March 31, 2014 Trend News

The Dollar index has not broken above 80.40 but has not broken support levels also. The sideways movement continues and so do we prefer bullish positions than bearish. Short-term support is found at 80.05. Short-term resistance is found at 80.35. If support fails, we should anticipate a move towards 79.70. If resistance breaks, we should expect a move towards 80.70.

The Dollar index although it is trading sideways, Ichimoku cloud remains below it and supports our bullish view. The index has a slight positive angle and this is another sign that supports our bullish view.

The daily chart shown above gives us two important clues. Trend is up as the Ichimoku averages are ready to make a bullish cross. The blue upward sloping trend line has been retaken and bulls now need to break above resistance at 80.70 to restart a rally towards 81.40-50. The 79.20 lows are very important. If the index clears above 80.50 then we could say that 79.45 will be our raised long-term stop.

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Gold technical analysis for March 31, 2014 Trend News

Gold prce has made an impulsive decline from $1,391 to $1,285. This impulsive decline together with the fact that the upward breakout was fake, makes me believe that Gold price will have more downside pressure if the price remains below $1,400. I believe that over the next few months, we will see Gold price making new lower lows than $1,180 towards $1,100. Gold price in the short-term is oversold and that is why my strategy is to wait for an upward bounce before enterish short positions.

Gold price has finally broken out of the downward sloping red trend line. This is an initial reversal sign and a clue that the short-term bottom might be in. As long as price trades above $1,285, there are increased probabilities of moving higher towards $1,322. Short-term resistance is found at $1,308-10. Short-term support is at $1,285. I expect Gold price to retrace at least the 38% of the decline.

Gold price is expected to make an upward bounce to reach the weekly Ichimoku cloud resistance and retrace the first decline from $1,391. I believe this upward move should be sold as my view is bearish in the long-term. I expect the lows at $1,180 to be broken before the end of this summer. I expect Gold to reach at least $1,100.

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