Daily analysis of Silver for January 21, 2014 Trend News

Overview

In the today's H4 chart, silver is still stabilizing above the Support level of 20.00 after it could not break it last week, and currently it is bouncing from it towards the Resistance level of 20.20. So we still suggest waiting for closing above the next Resistance level in case of bouncing from the Support level of 20.00 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 20.50, then after breaking this Resistance level silver would open the way towards the Resistance level of 20.75, which means more bullish signals, but as long as the metal trades below the Resistance level of 20.20, this cancels the bullish scenario.

Resistance and support levels:R3 (20.75) R2 (20.50) R1 (20.20) S1 (20.00) S2 (19.75) S3(19.50)

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Daily analysis of USDX for January 21, 2014 Trend News

Daily chart: The USDX is consolidating above the 200 SMA with the formation of a bullish pattern. Yesterday's session was used by the USDX for some corrective movements, so it is very likely that during these days, the USDX will continue to rise. However, any consolidation below the 200 SMA may indicate a change in trend. The MACD indicator is still in positive territory.

H4 chart: The USDX remains below the resistance at the level of 81.29, while it is forming a bullish pattern to continue rising. However, if the USDX makes a bearish rebound in the level of 81.19, is expected to fall to the support level of 80.99. If the USDX manages to break that level, it would be expected to fall to the level of 80.83. The MACD indicator is in neutral territory.

H1 chart: The support level of 81.09 seems quite strong in this chart, so it is very likely that the USDX will perform a further consolidation above this level and above the 200 SMA. If the USDX manages to break the resistance level at 81.40, it would be expected to rise to the level of 81.58. However, we note that there is a point of close monitoring that could serve as a drag on the USDX. The MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX Index breaks with a bullish candlestick; the resistance level is at 81.40, take profit is at 81.58, and stop loss is at 81.22.

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Daily analysis of GBP/USD for January 21, 2014 Trend News

Daily chart: The GBP/USD continues forming a lower high pattern below the level of 1.6447 and it is likely that during today's session, the pair have important movements since yesterday's session was slow due to the holiday in the United States. Our bullish outlook is still alive in this pair. However, if this pair makes a bearish rebound at current levels, would be expected to fall to the support level of 1.6326. The MACD indicator is still in negative territory.

H4 chart: This pair is trying to break the resistance level of 1.6441, but it seems that this level is quite strong and has been a major obstacle to the bullish trend of this pair. GBP/USD is likely to fall to the 200-day moving average near the level of 1.6336. If the pair manages to break that level, it would be expected to fall to the level of 1.6292. The MACD indicator is entering extremely overbought zone and in neutral territory.

H1 chart: The GBP/USD has found strong support on the level of 1.6419, where it has formed a point of control, which could help this pair continue to rise this week and consolidating above the 200 SMA. If this pair manages to break the resistance level of 1.6464, it's expected to rise to the level of 1.6507. The MACD indicator is still 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 1.6464, take profit is at 1.6507, and stop loss is at 1.6420.

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Technical analysis of EUR/USD for January 21, 2014 Trend News

When the European market opens, some economic news will be released such as ZEW Economic Sentiment, ZEW Economic Sentiment, Spanish HPI q/q. The US will not release any economic data today, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3612.

Strong Resistance:1.3604.

Original Resistance: 1.3591.

Inner Sell Area: 1.3578.

Target Inner Area: 1.3546.

Inner Buy Area: 1.3514.

Original Support: 1.3501.

Strong Support: 1.3488.

Breakout SELL Level: 1.3480.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3501 and 1.3591. The rate is accompanied by strong support at 1.3488 and by 1.3604 as strong resistance.

If EUR/USD breaks out and closes below the 1.3480 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3612 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 1.3514 and at 1.3578, a SELL position. In this case both targets should be placed at the level of 1.3546.

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 January 21, 2014 Trend News

There is no economic data to be released from Japan and the US. That is why we predict this pair today to move with low volatility.

TODAY's TECHNICAL LEVELS:

Resistance. 3 : 105.14.

Resistance. 2 : 104.93.

Resistance. 1 : 104.73.

Support. 1 : 104.48.

Support. 2 : 104.28.

Support. 3 : 104.07.

DESCRIPTION:

Please, pay attention to the levels of support 3 (104.07) and resistance 3 (105.14). 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.

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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Mathematical analysis with Murray lines of USD/CHF for January 21, 2014 Trend News

Daily chart

The Swiss franc as well as the other crosses with the American dollar had very few movements on Monday due to the holiday in the USA. Finally, the USD/CHF ended the day by closing with a candle of indecision. Thus, it has begun this new day and in the first 5 hours of trades it has already shown an advance of almost 20 pips.

However, not very far away we have a support line that the USD/CHF must overcome in order to continue with their progress.

4-hour chart

However, the 4h chart shows us that this progress will be limited not only by the support that we mentioned as well as the line 6/8 g, Murrey J; but also by its first resistance weekly as well as by the first top line of your downward trend channel.

The first resistance is at 0.9150. It is possible that the price will be extended to this area and will depend a lot on the strength of the buyers to maintain positions at this level, although it is likely to be a profit-taking and the price finished retracting from this area.

1-hour chart

Finally the 1 hour chart shows us the USD/CHF within a channel of upward trend quite pronounced that appears to be nearing its peak. This due to the fact that 0.9130 is the top line of the horizontal channel in the 4-hour chart.

Therefore, although the predominant trend is still bullish, we may see a significant decline in USD/CHF in the next few days, which could get at least to 0.9065.

Eventually, we may get selling below 0.9030 with stop loss of about 30 pips.

If you have any questions or suggestions, please contact:

Email:antonio.inga@analytics.instaforex.com



DISCLAIMER

No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature.

The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.

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Technical analysis of Silver for January 20, 2014. Trend News

Technical outlook and chart setups:

1. The metal is virtually unchanged from yesterday at $20.20 at the moment. It is expected to fall lower, and it is recommended to buy on dips from here on. Minimum expectations are the $19.40/19.00 region.

2. Immediate resistance at $20.50 has been taken off, higher one is at sub $21.00 level, while support is spread through $19.40/50, followed by $19.00, and $18.75 respectively.

3. Structure reveals that a dip is expected towards at least $19.40/19.00 levels before the next leg of rally resumes.

Trading recommendations:

Look to buy again on a dip towards $19.00/40 levels.

Good luck!

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Technical analysis of Gold for January 21, 2014. Trend News

Technical outlook and chart setups:

1. Gold remains unchanged from yesterday at $1,253.00/54.00 levels at the moment. A push through is expected towards $1,267.00/70.00, before a meaningful pullback occurs. It is recommended to remain flat for now and initiate short positions higher.

2. Immediate resistance is at $1,267.00/68.00, while support is spread through $1,240.00, followed by $1,220.00/10.00, $1,882.00 and lower respectively.

3. The structure reveals that bulls would wish to challenge the $1,267.00/70.00 levels before retracement/pullback occurs.

Trading recommendations:

Remain flat for now. Look to sell in the $1,267.00/70.00 region.

Good luck!

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Technical analysis of EUR/JPY for January 21, 2014. Trend News

Technical outlook and chart setups:

1. The currency pair has finally entered into the counter trend rally mode from sub 140.00. Possible extension is towards 143.00/50 from here on. It would be recommended to initiate short positions at that level.

2. Immediate resistance is at 143.00 followed by 145.00/50, while support is spread through 140.20/30 (intermediary), followed by 138.20/30, and 134.00 respectively.

3. The entire structure reveals that resistance should be strong at 143.00/50 and a possible reversal from there could bring prices to 138.00 at least.

Trading recommendations:

Flat for now. Plan to enter short at 143.00/50.

Good luck!

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Technical analysis of GBP/CHF for January 21, 2014 Trend News

Technical outlook and chart setups:

1. GBP/CHF remains unchanged from what was discussed yesterday. As seen here, the backtest of the support turned resistance trend line which seems to be complete in the 1.4950 region. It is recommended to hold on short positions with risk above 1.5020.

2. Resistance is at 1.5020, while support is spread through 1.4700/50 (intermediary), followed by 1.4550 and 1.4350 respectively.

3. The entire structure reveals that the downfall should resume any moment and extend towards at least the 1.45 region. A break of 1.4750 would be encouraging for bears.

Trading recommendations:

Remain short, stop is above 1.5020, target is 1.45.

Good luck!

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Technical analysis of NZD/USD for January 21, 2014 Trend News

Forecast for the long term :

According to previous events, The NZD/USD pair has still been trapped between 0.8303 and 0.8355.

• Strong level (resistance) will be formed at the level of 0.8460 providing a clear signal for sell deals with the target seen at 0.8275.


• Stop-loss is to be placed above 0.8515.


• Strong level (support) will be formed at the level of 0.8250 providing a clear signal for buy deals with the target seen at the 0.8386 level.


• Stop-loss is to be placed below 0.8210.

Warnings:

• Stop loss should never exceed your maximum exposure amounts.


• The market has a high volatility, if the previous day had a huge volatility.

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Technical analysis of USD/CHF for January 21, 2014 Trend News

Overview :

• The USD/CHF pair probably will form a strong support at the level of 0.8990 (above 38.2% of Fibonacci retracement levels, as well as it will also form a sturdy resistance at the 0.9150 level in the H1 chart. Equally important, it should be noted that the price is going to form a double bottom at 0.8986 (the last bearish wave for the last week). Furthermore, the saturation is likely to take place around 0.8990, since this level also formeds the first strong support on January 17, 2014. Consequently, it is possible that the market will start showing bullish signs, thence it will too useful to buy deals are recommended above 0.8990 with the first target seen at the 0.9080 level and further at the 0.9150 price. Thereupon, it also should be noted that the level of 0.9150 will represent strong resistance today at the price of 0.9151 (78.6% of Fibonacci retracement levels).

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Technical analysis of EUR/JPY for January 20, 2014 Trend News

General overview for 20/01/2014 15:15 CET

Last downside wave progression has broken the low of wave 1 (current A green) and this is why the count has been changed to more complex wave structure.

Currently, the upside wave progression has not been changed and there is some evidence that higher prices are possible.

The upside rally is possible due to ABC green Irregular Flat structure developing and the high of wave A green should be taken out.

In case of more complex correction, please notice, that wave 4 that the market is currently in, can develop into am ABCDE Triangle formation.

Support/Resistance:

139.92 - WS1

140.31 - Swing Low

140.88 - Intraday Support

141.36 - Intraday Resistance

141.42 - Weekly Pivot

142.32 - WR1

142.89 - Wave B high

Trading recommendations:

As long as intraday support at the level of 140.88 persists, long entry is preffered with SL below the level of 140.79 and TP at the level of 141.42. Extension is possible.

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GOLD analysis for January 20, 2014 Trend News

Overview:

Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,261.23 on average volume according to M30 timeframe.We can also observe that demand has entered the market at 1,237.50 which caused the price to start bullish movement. Since the price has broken the level of 1,254.00, we may expect testing of smaller FE 100 % (1,270.00) and possible testing of major FE 100 % at 1,279.00-1,295.00. Do not forget, gold is in bearish trend and we are now in bullish corrective phase. There is also a chance that we may see testing of levels around 1,251.00-1,244.00, before another bullish movement. Selling gold at this stage looks risky since gold is in progress of bullish corrective phase, and we saw demand on the high volume in the background. Watch for buying opportunities.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,259.93

R2: 1,262.03

R3: 1,265.43

Support levels:

S1: 1,253.13

S2: 1,251.03

S3: 1,247.63

Trading recommendation: Trading the metal, be careful with selling gold and try to catch bullish corrective phase.

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EUR/NZD: Analysis for January 20, 2014 Trend News

Overview:

Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6493 on high volume. As you can see in the chart, our FR 61.8 % at 1.6270 held successfully and the price started upward movement from that point. We can observe that supply had entered the market at 1.6460, so we may see smaller downward and potential testing of FR 38.2 % at 1.6390 or FR 61.8 % at price 1.6325. The price reached our third upper station at 1.6480 (FE 161.8 %) on high volume. If the price breaks level of 1.6515 (major FR 38.2 %), we may see testing of FR 61.8 % at price 1.6695. Do not forget EUR/NZD is in short-mid term bullish trend and selling EUR/NZD at this stage looks very risky, so watch for buying opportunities and try to catch bullish continuation phase.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6450

R2: 1.6493

R3: 1.6562

Support levels:

S1: 1.6313

S2: 1.6270

S3: 1.6202

Trading recommendation: Be careful with selling the EUR/NZD pair, watch for buying opportunities and try to catch bullish continuation phase.

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Weekly technical levels of GBP/USD for January 20 - 24, 2014 Trend News

• The weekly technical levels of the GBP/USD pair.

Overview :

• The GBP/USD pair broke a major resistance at the level 1.6318 last week, and today the price have opened around the new weekly pivot point at the 1.6410 level. Moreover, it should be noted that the weekly pivot point is calculated at 1.3112. Therefore, a movement will probably start at this area and recovery will begin again. Thus, the market will indicate a bullish opportunity above the weekly pivot point, for that, it will be a good sign to buy at this spot with the first target at 1.6507 in order to form a double top and continue towards 1.6561 tomorrow. But, please, check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate. On the other hand, if a break of 1.6350 occurs, then it will be a good location for placing stop loss at the price of 1.6330 as well as we should remind that the stop loss should never exceed your maximum exposure amounts.

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Weekly technical levels of EUR/USD for January 20-24, 2014 Trend News

Idea about pivot point:

• To identify the pivot point and its resistance/support levels, you should use historic rates to determine future prices. It means to use the previous period's high, low and close to formulate future resistance and support. So, the pivot point is an orbit among three up levels that are referred to resistances and three down levels they are referred to supports. The pivot point is especially useful for the short term as well as it is also to be used to range or/and breakout. In this technical analysis we will know more about standard pivot point, Fibonacci pivot point, Camarilla pivot point and Woodie pivot point.

Intraday trading recommendations :

• According to previous events, the EUR/USD pair has still been trapped between 1.3585 and 1.3516. The level of 1.3471 will indicate strong support. We expect that the level of 1.3471 will form a new double bottom at this price. Therefore, it will be of the foresight to buy at 1.3471 with the first target at 1.3585 (the weekly pivot point), then it will continue towards 1.3625. The stop loss should be placed below 1.3450.

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Elliott Wave Analysis of EUR/NZD for January 20, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.6594

R2: 1.6521

R1: 1.6499

Current spot: 1.6419

S1: 1.6403

S2: 1.6359

S3: 1.6324

Technical summary:

The correction from 1.6214 has become a more complex double zig-zag correction, with the first zig-zag (w) from 1.6214 to 1.6417 followed by an x-wave down to 1.6272 and then the second zig-zag correction (y) to 1.6499. We will likely see a new impulsive decline from 1.6499, which a break below 1.6403 and more importantly a break below 1.6359 will confirm a decline towards 1.6129 and maybe even 1.6049 in wave (v) and iii.

in longer-term we are looking for the ongoing wave C to end at 1.5793.

Trading recommendation:

We are short in EUR from 1.6405 with stop placed at 1.6580. Upon a break below 1.6359 we will move our stop lower. If you are not short in EUR yet, then sell here or upon a break below 1.6359 with the same stop at 1.6580.

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Elliott Wave Analysis of EUR/JPY for January 20, 2014 Trend News

Today's Support and Resistance levels:

R3: 141.91 R2: 141.61 R1: 141.37 Current Spot: 141.32 S1: 141.04 S2: 140.90 S3: 140.60.

We now have seen a five wave decline from 145.69 down to 140.49 followed by a three wave rise to 142.91 and from 142.91 a new five wave decline. All this confirms that an important top has been seen at 145.69 and a major correction to the rally of the 2012 low at 94.10 to the 2013 high at 145.69. The first major corrective target is at 133.52, which marks the 23.6% corrective target, but it is more likely, that we will see an even larger correction towards 125.99, which marks that 38.2% corrective target. In the short term we will be looking for resistance at 141.61 and strong resistance at 141.91 to protect the upside for a break below support at 141.04 and more importantly for a break below 140.60, which confirms the next downswing towards 137.18 and likely even lower.

Trading recommendation: We took a nice profit at 141.60. We will sell EUR again at 141.85 or upon a break below 141.04 with stop at 142.95.

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Elliott Wave Analysis of USD/CAD for January 20, 2014 Trend News

USD/CAD Elliott Wave
After a strong upward movements in the early January, the USD/CAD pair traded sideways last week.You can see on the 1-hour chart above that we are tracking this sideways movements from the 1.0991 level asthe flat correction that currently have two waves completed, we are going to look for one more push lower todaywhile the price stays below the last high at the 1.0991 level. In accordance with our wave rules and taking intoaccount that wave c should retrace 161.8% of wave a, we can define the potential targets with measuring wave awith take profit at 1.0837 (161.8% of wave a). Swing traders should wait for the end of the b wave (colouredred) before they enter a long positions.

Support and Resistance
(S3) 1.0873 (S2) 1.0899 (S1) 1.0930 (PP) 1.0956 (R1) 1.0987 (R2) 1.1013 (R3) 1.1044

Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin downward movements. That is why shortpositions at the level of 1.0940 with stop loss at 1.0991 and take profit at 1.0837 are recommended.

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Elliott Wave Analysis of AUD/USD for January 20, 2014 Trend News

AUD/USD Elliott Wave
Last week, the AUD/USD pair has been trading downwards, impulsive wave i (coloured blue) of the bigger wave (v)(coloured red) has been developing. In the 1-hour chart you can see that AUD/USD descending move from 0.9083towards 0.8756 level looks as completed cycle, we are seeing price around 0.8805 at the moment and while pricestay above 0.8756 (short term invalidation) we can expect to see more upward movements in the corrective waveii (coloured blue) that is currently developing.In accordance with our wave rules and taking into account thatwave 1 should retrace 50% of wave 1, we can define the potential targets with measuring wave 1 with take profitat 0.8920 (50% of wave 1). Swing traders should wait for the end of the ii wave (coloured blue) before theyenter a short positions.

Support and Resistance
(S3) 0.8687 (S2) 0.8724 (S1) 0.8752 (PP) 0.8789 (R1) 0.8817 (R2) 0.8854 (R3) 0.8882

Trading forecast
Proceeding from Elliot Wave rules today, the trend is expected to begin the upward movements. That is why longpositions at level 0.8810 with stop loss at 0.8756 and take profit at 0.8920 are recommended.

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#USDX analysis for January 20, 2014 Trend News

The Dollar index has made an impulsive rise from 80.40 lows. Prices have managed to make a new short-term higher high at 81.30. This is a good sign for bulls, but we need more. Prices are still below the important high of 81.50 and still inside the important resistance area. Short-term support is found at 80.40 and as long as prices trade above that level, bulls will feel more confident.

Short-term support is found at 80.80. A pull back towards that level today could be justified. Breaking below that level will put the 80.40 low in danger. Prices could make a pull back towards 80.80 and then resume their upward move that started at 80.40. The next leg up should be strong enough to make new intermediate highs above 81.50.

On the daily chart, prices look supported and challenging the important resistance levels at 81.10-50. A clear break out above this area will open the road to reach 83-84 over the comming weeks. We remain bullish as long as prices trade above 80.40. Prices are starting to build a bullish price pattern with higher highs and higher lows and combined with a break above 81.50 will confirm our bullish view and expectations.

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Gold analysis for January 20, 2014 Trend News

Gold prices continued their upward bounce from $1,180. Our initial bounce target was $1,270. At $1,256, prices made a short term bearish reversal, but the important intermediate support low at $1,220 was never broken. Support was held and prices managed to break above short-term resistance at $1,248 and made a new higher high at $1,260. The upward move is still labeled as corrective and part of a bigger upward correction that is expected soon to end.

Gold prices are rising and are now very close to the important resistance area of $1,260-70 where we expect to see a reversal. As long as prices trade above the purple trend lines, we remain neutral. Once the trend lines are broken, we will go short. These trend lines provide support at $1,240-38 price levels.

On a daily basis, prices are testing the resistance levels as shown in the chart above. Prices are very near the resistance of the purple downward sloping trend line. We expect to see a reversal soon. The first important sign of a trend reversal and confirmation that the downward trend is resuming, will be the break of $1,240-30 zone. Our longer-term target remains $1,140.

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Technical analysis of USD/CAD for January 20, 2014 Trend News

General overview for 20/01/2014 08:40 CET

The anticipated target level for wace c purple to at 1.0983 has been hit.

Currently the corrective cycle might be finished and price should react more to the downside.

First confirmation will be golden trendline break to the downside. On the other hand, any new high invalidates bearish scenario and count will be revised.

Support/Resistance:

1.1037 - WR1

1.0989 - Swing High

1.0983 - Intraday Resistance

1.0934 - Weekly Pivot

1.0929 - Intraday Support

1.0902 - Intraday Support

1.0888 - WS1

1.0790 - WS2

Trading recommendations:

Short positions should be in play here with entry at the current price level and with SL above the level of 1.0991 and TP at the level of 1.0902.

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