Technical analysis of EUR/USD for February 12, 2014 Trend News

When the European market opens, there will be a release of Industrial Production m/m.The US will release the economic data such as the US-Crude Oil Inventories, US-10-y Bond Auction, US-Federal Budget Balance, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3700.

Strong Resistance:1.3692.

Original Resistance: 1.3679.

Inner Sell Area: 1.3666.

Target Inner Area: 1.3634.

Inner Buy Area: 1.3602.

Original Support: 1.3589.

Strong Support: 1.3576.

Breakout SELL Level: 1.3568.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3589 and 1.3679. The rate is accompanied by strong support at 1.3576 and by 1.3692 as strong resistance.

If EUR/USD breaks out and closes below the 1.3568 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3700 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 1.3602 and at 1.3666, a SELL position. In this case both targets should be placed at the level of 1.3634.

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 gold for February 12, 2014 Trend News

Gold again prove itself as a hedging machine. Traders choose gold as an investment vehicle resulted, the metal climbed 3-months high. Yellen's testimony was part of the Fed's semi-annual monetary policy report that was released. Thursday, Yellen is scheduled to testify before a Senate committee. If the economy moves in the same phase, the Fed would taper its asset purchases at future meetings.

Weekly basis-

The chart speaks first before the price turned up/down. If we go through the weekly chart given below, the RSI gave a buy signal at the level of 21 (oversold) before the price started going up from June's lows. I divided the price movement from June 28, 2013 till now into three parts. After the price moved to the level of $1,433.3 from its June's low, the metal was corrected up to the level of $1,251. At this time, the RSI was still in positive mode at 35.0. In the second part, gold fell from the level of $1,361.6 to $1,182.1, still the RSI is in positive mode at 39. Now we are in final level part 3 or final phase of the pullback, where RSI reached the 50.0 levels. Overall, the picture shows some more room for upside left.

Support- $1,240, Resistance- $1,326.

Intraday basis-

Yesterday, we gave a buy call for intraday basis. Gold hit all our targets. Gold completed its final pullback at the level of $1293.3. In our previous report, we alerted maximum it can stretch up to $1292.3. If any positive news spreads in the market, it can stretch a bit more its leg towards $1,320.0 and $1,326.0. RSI reached the 65 levels.

Bull factors

· Oscillators are still in positive zone

· Price is holding above 21DEMA

· Gold is trading above 38.2 Fib

Bearish factor

· Unable to cross the resistance level of $1,294, a November 14, 2013 high

· RSI is giving a downward tick

Recommendation-

Sell with sl $1,294 for the targets of $1,280 and $1,276. cmp $1,290.5

Buy above $1,294 for the targets $1,313 and $1,326

Whereas in the hourly chart, RSI is giving a negative divergence. In intraday basis, money is left in sell side. More noise left in the hourly chart indicates sell side.

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Technical analysis of EUR/JPY for February 12, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair has tested resistance line at 140.00 levels as seen here. It is still recommended to remain flat and await for a reaction here. Aggressive traders may go short, risk remains at 143.00.

2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are fixed at 134.00, followed by 131.00 and lower respectively.

3. The entire structure remains bullish till prices are above support line which is passing through 134.50 at the moment. A pullback is expected at least towards 137.50 before the rally resumes further.

Trading recommendations:

Flat for now.

Good luck!

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Technical analysis of Silver for February 12, 2014. Trend News

Technical outlook and chart setups:

1. Silver continues to trade within the discussed range of $19.00 and $20.00 respectively. A push above $20.50 is required to accelerate higher towards sub $22.00 and $24.00 levels. It is still recommended to remain long and also look to buy on dips towards range bottom.

2. Immediate support is at $19.00, followed by $18.75, while resistance is at $20.50 (intermediary), followed by $21.00 and $22.00 respectively.

3. The entire structure remains constructive for bulls and one can see a probable inverted head and shoulder formation. $19.00 is the measured right shoulder formed. Prices should break higher towards $22.00 and $24.00 levels.

Trading recommendations:

Hold long positions, stop is at $18.50 and target is open.

Good luck!

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Technical analysis of Gold for February 12, 2014. Trend News

Technical outlook and chart setups:

1. Gold has been making higher highs and higher lows for now and has taken out resistance at $1,294.00. A meaningful pullback is awaited to enter long positions. The expected level is between $1,20.00 and $1,230.00. Flat for now.

2. Immediate support is at $1,230.00, followed by $1,220.00/10.00 and lower, while resistance is now at $1,330.00 and higher respectively.

3. The structure reveals that a bottom formation might be complete at $1,182.00. Furthermore, the channel line resistance has also been broken and prices are in the buy zone. Buying on dips is a recommended strategy.

Trading recommendations:

Flat for now. Looking to buy lower around $1,220.00/30.00.

Good luck!

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Technical analysis of GBP/CHF for February 12, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has been range trading since last 6 sessions now. Range support is around 1.4680/1.4700 and resistance is around 1.4760/70. A breakout on either side should be awaited before committing further. Short positions taken earlier could be held, but fresh positions should be added on a breakout.

2. Immediate resistance is at 1.4950/60, followed by 1.5120/30, while support is at 1.4550, followed by 1.4350, 1.4200 and lower respectively. A breakdown from the trading range would assure that bears are still in control.

3. The entire structure still remains constructive for bears. A push below 1.4700 would be required to instill further confidence and take out supports. 1.5120/30 is probable major top and should hold.

Trading recommendations:

Hold short positions, stop is at 1.5130, target is open.

Good luck!

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Daily analysis of GBP/USD for February 12, 2014 Trend News

Daily chart: The pair managed to touch the resistance level of 1.6447 and is now forming a lower high pattern. If the pair manages to make a breakout at that level, it would be expected to rise to the level of 1.6540. However, it is very likely that during this week, GBP/USD is starting making corrective movements, although the bullish bias remains strong. The MACD indicator is in neutral territory.

H4 chart: GBP/USD is below the resistance level of 1.6483 and near that level, this pair formed a fractal. For now, the bullish trend remains strong, as the GBP/USD remains above the 200 SMA. If the pair manages to break the resistance level of 1.6483, it's expected to rise to the level of 1.6516 . Moreover, if this pair does break the support level of 1.6435, it is expected to fall to the level of 1.6336. The MACD indicator is in positive territory.

H1 chart: This pair remains above the point of control and 200 SMA, which are located near the the 1.6400 level. Now, the GBP/USD is forming a bullish pattern above the support level of 1.6419. If the pair manages to break the resistance level of 1.6464, it's expected to rise to the level of 1.6507. Moreover, if this pair does break the support level of 1.6419, it is expected to fall to the level of 1.6375. 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 1.6464, take profit is at 1.6507, and stop loss is at 1.6422.

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Technical analysis of EUR/USD for February 12, 2014 Trend News

Trading recommendations :

• The EUR/USD pair is in the short term.


• The price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3722. Accordingly, it will a good sign to sell below 1.3722 with the first target of 1.3636 to test a minor support at this price. Also, it will call for downtrend in order to continue its bearish movement towards 1.3563.


• At the same time, the stop loss should be placed above 1.3722 at the price of 1.3774. Equally important, the support will set at the 1.3563 level. Additionally, it should be noted that the range today will be about 60 pips.

Notes :

• The stop loss has set in 52 pips. Hence, the risk of 53 pips should make a profit of 78 pips.


• Volatility: 72.37. As a rule, the market is highly volatile if the last day had a huge volatility.

Intraday technical levels :

• R3: 1.3722


• R2: 1.3702


• R1: 1.3669


• PP: 1.3649


• S1: 1.3616


• S2: 1.3596


• S3: 1.3563

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Technical analysis of USD/JPY for Feburary 10, 2014 Trend News

Overview:

USD/JPY is expected to consolidate after hitting its six-day high of 102.65 on Monday as markets await the Federal Reserve Chairwoman Janet Yellen's first semiannual testimony before the U.S. House Financial Services Committee. Ms. Yellen is expected to deliver a message of continuity in U.S. monetary policy. Liquidity was thin in Asia today as financial markets in Japan were shut for holiday. USD/JPY is undermined by subdued investor risk appetite, soft U.S. dollar sentiment (ICE spot dollar index last 80.63 versus 80.74 early Monday) as Friday's weaker-than-expected U.S. January non-farm payrolls data continue to weigh and buy-yen orders from Japan exporters. But USD/JPY downside is limited by sell-yen orders from Japan's importers and ultra-loose Bank of Japan's monetary policy stance.

Technical сomment:

Daily chart is mixed as MACD is in bearish mode, but stochastics is rising from an oversold zone.

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 102.65 and the second target at 102.9. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 101.55. A breach of this target will push the pair further downwards and one may expect the second target at 101.2. The pivot point is at 102.05.

Resistance levels:

102.65

102.9

103.25

Support levels:

101.55

101.2

100.75

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Technical analysis of NZD/USD for Feburary 11, 2014 Trend News

Overview:

NZD/USD is expected to range-trade. It is undermined by the Kiwi sales on NZD/JPY cross amid waning investor risk appetite. But NZD/USD downside is limited by the negative U.S. dollar sentiment, the Kiwi demand on soft AUD/NZD cross and hawkish Reserve Bank of New Zealand's monetary policy stance. Daily chart is still positive-biased as MACD and stochastics is in bullish mode, five-day moving average is above 15-day MA and is advancing.

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 0.834 and the second target at 0.836. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.825. A breach of this target will push the pair further downwards and one may expect the second target at 0.823. The pivot point is at 0.8275.

Resistance levels:

0.834

0.836

0.838

Support levels:

0.825

0.823

0.821

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Technical analysis of USD/CHF for Feburary 11, 2014 Trend News

Overview:

USD/CHF is expected to trade with risks skewed lower. It is undermined by the negative U.S. dollar sentiment. But the USD/CHF downside is limited by the franc sales on soft CHF/JPY cross. Daily chart is negative-biased as MACD and stochastics are bearish.

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 0.8935 in mind. A breach of this target will move the pair further downwards to 0.89. The pivot point stands at 0.898. In case the price moves in the opposite direction, bounces back from support level, and then moves above its pivot point, it is most favourably expected to move further to the upside. In that scenario, a long position is recommended with the first target at 0.9 and the second target at 0.9025.

Resistance levels:

0.9

0.9025

0.9055

Support levels:

0.8935

0.89

0.8855

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Technical analysis of GBP/JPY for Feburary 11, 2014 Trend News

Overview:

GBP/JPY is expected to consolidate. It is supported by buoyant EUR/USD undertone. But GBP/JPY upside is limited by subdued risk sentiment before the congressional testimony of Fed Chairwoman Janet Yellen. Daily chart is still positive-biased as stochastics is bullish, MACD is staging bullish crossover against its exponential moving average.

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 169.05 and the second target at 169.7. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 166.25. A breach of this target will push the pair further downwards and one may expect the second target at 165. The pivot point is at 167.15.

Resistance levels:

169.05

169.7

170

Support levels:

166.25

165

164

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USD/CAD intraday technical levels and trading recommendations for February 11, 2014 Trend News

The bulls managed to hit fresh highs (around 1.1220) that haven't been visited since 2009.

Recently, the USD is failing to keep its gains against CAD, and the USD/CAD pair was pushed to the downside indicating weakness of the ongoing bullish momentum.

This is manifested in the previous weekly candlestick that came as bearish engulfing one.

The nearest resistance zone is located around 1.1230-1.1250 corresponding to the 50% Fibonacci level of the bearish swing that extended between March 2009 and July 2011.

The daily chart reveals an atypical Head and Shoulders reversal pattern. If this pattern is confirmed, the USD/CAD pair will have a projection target located at 1.0880.

The pair has a significant support zone between 1.0700 and 1.0730 representing the upper limit of a previous consolidation range that got broken last month.

Minor support zone is located between 1.0950-1.0860 corresponding to the previous congestion zone established in mid-January.

Intraday bullish rejection may be expressed there as manifested on Friday's daily candlestick. However, the pair will probably retest this price zone again most likely within the current week.

The next destination for the USD/CAD pair will probably be the price zone of 1.0700-1.0730. Retesting of this zone would probably provide a valid BUY entry for the mid-term.

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GBP/USD intraday technical levels and trading recommendations for February 11, 2014. Trend News

The previous multiple tops as well as a recent bottom were established around 1.6250. That's why a considerable support was provided around this price level.

The 4H chart reveals an inverted bullish Head and Shoulders pattern which was expressed around 1.6220 aiming towards a 1.6470-1.6500 "prominent resistance zone."

A valid SELL position can be taken at retesting of 1.6500, initial targets are located at 1.6370, 1.6300 then 1.6240. SL should be located above 1.6560.

Stabilization of 4H above the price zone of 1.6470-1.6500 opens the way directly towards 1.6600 as an initial target.

On the other hand, breakdown of 1.6250-1.6200 on a daily basis turns the ongoing bullish bias into a bearish one targeting at 1.6140 initially.

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Daily analysis of Silver for February 11, 2014 Trend News

As shown in the today's H4 chart, the metal failed again to break the Support level of 20.00 and is still trading above the Support level and inside its bearish channel. Currently silver is bouncing from the Support level and starting for the bullish move. So we still suggest waiting for closing above the Resistance level of 20.20 in case of bouncing from the Support level 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, it 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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Intraday technical levels and trading recommendations for GBP/USD for February 11, 2014 Trend News

The GBP/USD pair successfully achieved its projected target around 1.6600 after the bullish breakout above 1.6250 was initiated.

Obvious bearish rejection was expressed off 1.6666 after brief consolidation above 1.6600 took place on January 25.

The GBP/USD Pair established a descending bottom at 1.6470 which is considered an Intraday Supply for the pair.

The breakdown of 1.6470 opened the way directly towards 1.6250 where bullish rejection was expressed. This was manifested in the successive HAMMER daily candlesticks expressed last week.

The nearest demand level is located at 1.6250 where a recent bottom was established on December 17 as well as previous multiple tops.

As expected, bullish pressure was applied at retesting of the backside of the broken bearish channel depicted on the chart.

This pushed the pair higher again towards 1.6470 as mentioned in yesterday's article.

On the 4H chart, Price Level of 1.6470 is more prominent as an Intraday resistance.

Price Level of 1.6470 offers a valid SELL entry with SL as daily closure above 1.6500.

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Daily analysis of GBP/JPY for February 11, 2014 Trend News

Overview

According to our expectations yesterday, more bullish signals would be expected in case of closing above the Resistance area of 167.00-167.60 which is keeping its movement above the upward trend line. Today, as it is shown in the H4 chart, the pair has already managed to break the Resistance level and close 4H above it. Currently, the pair is approaching the Resistance level of 168.50 trying to break it through to continue the upward move. More bullish signals would be expected in case of closing 4H above this Resistance level with first target few pips below the Resistance level of 169.75 then 170.75 as the second target.

Resistance and Support levels: R3 (170.75), R2(169.75), R1(168.50), S1 (167.00), S2 (166.00), S3(165.00).

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GOLD analysis for February 11, 2014 Trend News

Overview:

Since our last analysis, gold has been trading upwards, like we expected, the price tested the level of 1,287.53 on average volume. We can observe strong demand and weak supply in the past two days. Selling at this stage looks risky because of strong demand in the background. We may see possible testing the level of 1,292.00 (FR 61.8%)-1,298.00 (FE 61.8%) and extended major bullish corrective phase. Our advice is to try to catch bullish corrective phase and to build bullish positions on the dips.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,277.05

R2: 1,280.05

R3: 1,284.90

Support levels:

S1: 1,267.35

S2: 1,264.35

S3: 1,259.50

Trading recommendation: Trading the metal, be careful with selling since we may see possible testing the levels of 1,292.00-1,298.00.

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EUR/NZD analysis for February 11, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6400. Our previous analysis is still active. We can observe selling climax at the price of 1.6400 and weak supply after that huge reaction. Be careful with selling this pair since we have got strong demand in the background and few selling climatic actions. In case that the price breaks the level of 1.6523, we may expect testing of our FR 61.8% at the price of 1.6624. Do not forget that EUR/NZD is in short- and mid-term bullish trend and selling EUR/NZD at this stage looks very risky. Watch for buying opportunities on the dips and try to catch the bullish continuation phase. In case that the price breaks the level of 1.6360 on higher volume, we may see testing the level of 1.6310 (major Fibonacci expansion 61.8%) before any bullish movement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6521

R2: 1.6544

R3: 1.6581

Support levels:

S1: 1.6447

S2 : 1.6424

S3: 1.6387

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

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#USDX Technical analysis for February 11, 2014 Trend News

The Dollar index continues its bearish trend as it has not managed to break above short-term resistance levels at 81. We are bearish this index since it was above 81.20 and got rejected at 81.40-50 once again. Our target was the lower support trend line near 80.15-20.

The index has now fallen below the 61.8% Fibonacci support and this is not a good sign for bulls. Next short-term support at 80.45. Short-term resistance is found at 80.80 and this is the stop for bears. We continue to prefer short positions and we look to close-take profits around 80.20-30.

The daily chart also shows the upward sloping trend line support that we target in order to close our short positions. We expect the decline to pause at that level and maybe see a reversal upwards. The longer-term price pattern of the index is sideways and we continue to see 81.50 as a level that if broken we should play the long side 100%. It is also good for longer-term bulls the fact that the index does not fall below 79. Below 79, the longer-term outlook for this index will be very bearish.

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Gold technical analysis for February 11, 2014 Trend News

Gold price has held its support as noted yesterday and it continues its upward move towards our target of $1,300-$1,320. Gold price remains above the Ichimoku cloud support, continues to make higher highs and higher lows, has not broken any upward sloping trend line support and finally it has broken above its previous important high.

Trend is up in the short-term and we target $1,300-$1,320. Important support for bulls is $1,260 and I will raise my bullish stop to that price level. We could see a back test towards the support around $1,270-65.

The daily chart confirms with a new higher high that trend is up and important support has held so far. Now the support area at $1,240 has become of great importance for the long-term trend. The support at $1,250-60 has become also important for the intermediate- and short-term trend. Our target is the next downward sloping trend line resistance around $1,310-20.

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Elliott wave analysis of EUR/NZD for February 11, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.6550

R2: 1.6527

R1: 1.6485

Current spot 1.6455

S1: 1.6390

S2: 1.6344

S3: 1.6310

Technical summary:

There has been range trading between 1.6417 and 1.6527 since yesterday without much indication of the next direction. However, we still think that a break towards the upside is most likely and will be confirmed by a break above minor resistance at 1.6485 and more importantly a break above 1.6550 confirming a continuation higher towards 1.6787 and above. At this point only a break below support at 1.6390 will invalidate the bullish count and add a slight downside pressure, but the downside should be limited and at no point should support at 1.6214 be broken.

Trading recommendation:

Stay long from 1.6466 with your stop placed at 1.6346. If you are not long in EUR yet, then buy EUR upon a break above 1.6485 with the same stop at 1.6346.

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Elliott wave analysis of EUR/JPY for February 11, 2014 Trend News

Today's Support and Resistance levels:

R3: 141.26

R2: 140.54

R1: 140.03

Current spot: 139.68

S1: 139.17

S2: 138.72

S3: 138.17

Technical summary:

The rally from 136.23 extended and has forced us to change the short term count. Our new preferred count shows that a series of waves i-ii is developing. If this count is correct we should soon see a top for a break below minor support at 139.50 and more importantly below support at 139.17 that will be the first good indication that, this red wave (ii) has terminated and red wave (iii) lower towards at least 131.61 is developing. However, as long as support at 139.50 protects the downside we could see a slightly higher high close to 140.25, but at no point can a break above 141.26 be allowed as that will invalidate this bearish count.

Trading recommendation:

We will sell EUR at 140.00 or upon a break below 139.50 with a stop at 141.30.

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Elliott Wave Analysis of USD/CAD for for February 11, 2014 Trend News

USD/CAD Elliott Wave
Since our last analysis, the USD/CAD pair has continued trading upwards, just like we expected, corrective wave a (coloured blue) of the bigger wave [z] (coloured green) has been developing. In the 1-hour chart of the USD/CAD pair, we can see that the price has break above the upper trend line yesterday that confirmed that we are in the [z] wave at the moment, and while price stay now above the low at the 1.0963 level we are going to look for more upward movements in this commodity pair.In accordance with our wave rules and taking into account that wave [z] should extend 100% of wave [w], we can define the potential targets with measuring wave [w] with take profit at 1.1490 (100% of wave [w]).

Support and Resistance
(S3) 1.0987, (S2) 1.1002, (S1) 1.1030, (PP) 1.1045, (R1) 1.1073, (R2) 1.1088, (R3) 1.1116.

Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin upward movements. That is why long positions at the level of 1.1040 with stop loss at 1.0965 and take profit at 1.1495 are recommended.

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Elliott Wave Analysis of AUD/USD for February 11, 2014 Trend News

AUD/USD Elliott Wave
The AUD/USD pair has started this week higher, impulsive wave (v) (coloured black) of the bigger wave [i] (coloured green) has been developing. Yesterday, at the early London session, we could observe strong ascending movements from the 0.8900 level that we labeled as the end of the (v) wave. Wave [i] should end today around 0.9075 level - 100% of the wave 5 equal wave 1, and this can offer us a fresh selling signal signal for the [ii] wave against the 0.9150 level.In accordance with our wave rules and taking into account that wave 2 should retrace 50% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.8866 (50% of wave 1).Swing traders should wait for a pullback in the [ii] wave before they can join the buyers that should appear in this major pair soon.

Support and Resistance
(S3) 0.8865, (S2) 0.8885, (S1) 0.8917, (PP) 0.8937, (R1) 0.8969, (R2) 0.8989, (R3) 0.9021.

Trading forecast
Proceeding from Elliot Wave rules today, the trend is expected to begin the downward movements. That is why short position at level of 0.9075 with stop loss at 0.9150 take profit at 0.8866 are recommended.

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Technical analysis of EUR/USD for February 11, 2014 Trend News

There is no economic news to be released in Eurozone today. But the US will release some economic data such as the US-NFIB Small Business Index, US-JOLTS Job Openings, US-Wholesale Inventories m/m, and US-Fed Chair Yellen Testifying, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3738.

Strong Resistance:1.3729.

Original Resistance: 1.3716.

Inner Sell Area: 1.3703.

Target Inner Area: 1.3670.

Inner Buy Area: 1.3637.

Original Support: 1.3624.

Strong Support: 1.3611.

Breakout SELL Level: 1.3602.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3624 and 1.3716. The rate is accompanied by strong support at 1.3611 and by 1.3729 as strong resistance.

If EUR/USD breaks out and closes below the 1.3602 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3738 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 1.3637 and at 1.3703, a SELL position. In this case both targets should be placed at the level of 1.3670.

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 February 11, 2014 Trend News

In Asia, Japan will not release any economic data because of the Bank Holiday, but the US will release some economic data such as US-NFIB Small Business Index, US-JOLTS Job Openings, US-Wholesale Inventories m/m, and US-Fed Chair Yellen will Testify. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.66.

Resistance. 2: 102.46.

Resistance. 1: 102.26.

Support. 1: 102.01.

Support. 2: 101.80.

Support. 3: 101.60.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.60) and resistance 3 (102.66). 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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Technical analysis of EUR/JPY for February 11, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair had reached our minimum expected level of 140.00. As seen here, the resistance line is dropping through the same region at the moment. It is recommended to book profits on long positions taken earlier last week and remain flat for now.Aggressive trading setup would be to initiate short positions, risk is at 143.00.

2. Immediate resistance is at 142.00/143.00, followed by 145.50, while supports are spread through 134.00, 131.00 and 129.00 respectively.

3. The structure reveals that prices could continue to drift lower from the 140.00 mark and eventually test trend line support at 134.00. A break of 140.50 now, would challenge 143.00 and 145.50 as well.

Trading recommendations:

Book profits on longs and stay aside. Aggressive traders would want to go short, stop at 143.00, target open.

Good luck!

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Technical analysis of GBP/CHF for February 11, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair remains unchanged from what was discussed yesterday. Trading around 1.4700 levels at the moment, one can expect a break below 1.4500 soon. All counter trend rallies should be well capped below 1.4950/60. It is recommended to hold short positions, and also look to sell rallies from here on.

2. Immediate resistance is at 1.4950/60, followed by 1.5120/30, while supports are spread through 1.4550/60, 1.4350, 1.42000 and 1.4000 respectively.

3. The structure reveals that below 1.5120/30, the GBP/CHF is expected to drift lower towards 1.4000 levels eventually. Weekly charts suggests that a major top has been formed at 1.5120/30 now and prices are towards a lower low (below 1.4).

Trading recommendations:

Remain short, stop is at 1.5130, target is at 1.4.

Good luck!

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Technical analysis of crude for February 11, 2014 Trend News

Crude oil is trading above $100.0. Traders eye today's Fed chairwoman first semi-annual monetary policy report and Wednesday's inventory report from the US Energy Information Administration. These are the key triggers for the further move. Oil production of the Organization of the Petroleum Exporting Countries framed higher to 29.87 million barrels a day. Libyan production rose to 530,000 barrels a day in the month of January. Analysts pointed rise in crude oil futures to a mixed trend in Asia trade following a disappointing US job data.

Technical factors- In the H4 chart the price breaks the upper trend line and moving higher above the $100.0 mark. RSI is at 66 levels, very close to the overbought levels. But in the hourly chart RSI is framing a negative divergence resulted in the price comedown first before any further upmove.

Intra support- $99.5, $99.0.

Resistance- $100.5.

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Technical analysis of gold for February 11, 2014 Trend News

Chinese traders returned to the market last Friday. Gold is around 1% higher than where it was when the holidays started, still demand has been upon China's return. China's gold consumption jumped 41% in the year 2013. Traders eye today's Fed chairwoman first semi-annual monetary policy report. Her words will give a hint whether the disappointed job report data make any changes in the Fed decision.

Gold started its upward journey after making a higher low in the last day of the year 2013. In this new year 2014 till now we completed 28 trading days. From them, only 10 trading days were red and 18 trading days were green. We can clearly see the bull hug in the daily chart. On the weekly basis, currently we are in the 6th week. Only one week was red and the rest 5 weeks were green. This is caused by lower level buying and below $1,200 is an uneconomical level.

In the weekly and daily charts gold has broken and is trading above the descending upper trend line, which is a bull factor. If we go through the chart, we observe gold completed its pull back at the level of $1,279 (38.2% retracement level) from August 2013 fall. Gold attempted 2 times to cross that level. Yesterday again it tried to cross the level. After the disappointing US job data USD cooled a bit. Friday, the US stock market rebounded, so gold stepped back. Monday, the Dow Jones closed just in green, gold rallied towards its crucial level. RSI looks still positive in the daily and weekly charts. Whereas in the hourly charts RSI does not look favorable for longs.

Alert- If gold trades and sustains above the level of $1,279, next targets may be at $1,294, $1,300, and $1,307. Support exists at $1,253 and $1,242.

Intraday- Buy above $1,280, targets are $1,289 and $1,291.

Support- $1,273, $1,264, $1,260. The material has been provided by InstaForex Company - www.instaforex.com



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Technical analysis of Silver for February 11, 2014. Trend News

Technical outlook and chart setups:

1. Silver is well within the trading range defined yesterday between $19.00 and $20.00 effectively. Please note that the channel resistance line has been broken for now and a push above $20.50 from here on would accelerate rally further. It is recommended to hold on to long positions from earlier on and also look to add further on dips.

2. Immediate intermediary support is at $19.00, followed by $18.75, while immediate resistance is at $20.50 (intermediary swing), followed by $21.00 and higher respectively.

3. The structure reveals that prices might have turned higher from $19.00 level towards a possible trend reversal. As discussed yesterday, it is possible for Silver to trade between $19.00-$20.00, for a while before breaking out.

Trading recommendations:

Remain long, stop is at $18.50, target is open.

Good luck!

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Technical analysis of Gold for February 11, 2014. Trend News

Technical outlook and chart setups:

1. Gold takes out the recent swing highs at $1,279.00 early morning today. The next challenge for bulls is $1,294.00/95.00 levels. We have been stopped out and recommendations are to remain flat for now. Please note that the metal is out of the channel line resistance since last 2 trading sessions now and that the resistance line is now support for any dips. General strategy from here on would be to buy on dips.

2. Immediate resistance is at $1,294.00/95, followed by $1,20.00/30, while support is now at $1,238.00/30.00, followed by $1,220/10 and lower respectively.

3. The daily structure reveals that a trend reversal might be on its way. Watch out for $1,293.00/94.00 region now, which is also the fibonacci 0.618 resistance of the earlier downswing. A reaction is expected there for the bears to hold grip for a while and bring prices lower towards $1,220.00/25.00.

Trading recommendations:

Remain flat. Looking to buy lower.

Good luck!

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Daily analysis of USDX for February 11, 2014 Trend News

Daily chart: The USDX has touched the support level of 80.62, so it is very likely that the USDX will start forming a bearish pattern for a breakout at that level. If successful, it is expected to fall to the level of 80.11. However, remember that this support level is very strong and could slow the USDX fall in the rest of the week, although the essential news could invalidate this hypothesis. The MACD indicator is in negative territory.

H4 chart: The USDX has consolidated below the 200-day moving average, but the support level of 80.55 is very strong in this chart, as the USDX formed a couple of fractals there. If the USDX manages to break the support level of 80.44, it's expected to fall to the level of 80.15. On the other hand, a bullish rebound at current levels could lead the USDX up to the 200 SMA. The MACD indicator is entering oversold area.

H1 chart: The USDX is maintained within the range between the 80.73 and 80.59 levels. At the level of 80.73, the USDX has formed a point of control, which would give strength to the curb level to the USDX bullish road for this week. If the USDX manages to break the support level of 80.59, it's expected to fall to the level of 80.35. The MACD indicator is still in positive territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 80.59, take profit is at 80.35, and stop loss is at 80.83.

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Daily analysis of GBP/USD for February 11, 2014 Trend News

Daily chart: The GBP/USD had a session yesterday rather slow, as this pair failed to climb to the resistance level of 1.6447. For now, it is very likely that this pair will begin to form a bullish pattern to try to climb up to that level. However, the GBP/USD could perform deeper correcitve movements to the support level of 1.6326. The MACD indicator is in negative territory.

H4 chart: This pair found dynamic resistance at the 200-day moving average, so it is expected that the GBP/USD will fall to the support level of 1.6336. On the other hand, if the pair manages to make a breakout at the resistance level of 1.6441, it's expected to rise to the level of 1.6464. For now, the hypothesis that the GBP/USD make a bearish rebound at current levels is maintained. The MACD indicator is entering overbought area.

H1 chart: Near 200 SMA, the GBP/USD is forming a point of control, which can generate bearish pressure on this pair. If the GBP/USD manages to break the support level of 1.6375, it's expected to fall to the level of 1.6338. On the other hand, we must be vigilant against a breakout at the level of 1.6419, as this would invalidate our bearish outlook for this pair. The MACD indicator is entering neutral territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.6375, take profit is at 1.6338, and stop loss is at 1.6411.

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