Analysis of gold for March 03, 2014 Trend News

The US government revised its economic growth for the fourth quarter as consumer spending and exports were less than calculated before. The annual GDP expanded 2.4%, down from 3.2%. On Friday, gold dropped on Yellen's comments. Gold is very bullish on Monday in Asia as Ukraine's crisis deepens. If there is military action, then gold will rally further. We expect the correction to be completed at the level of $1,318.0. As we mentioned in our previous reports, the level of $1,318.0 is the crucial support for all the longs. Gold exactly took support from the level of $1,319.0 and flew away. On the upper side, the level of $1,346.0 is the strong resistance. If it crosses that level, gold easily will touch $1,361.0.

In the daily chart, today's low made in Asia was the strong support of $1,329.0 for further trading session. Gold holds the 200EMA and is unable to cross the resistance level at $1,346.0. The daily oscillators are giving a negative indication. Further up move will be intact only above $1,346.0 towards $1,361.0.

Upside-

· The price is trading above 200DEMA on the daily and hourly basis, $1,329.0.

· $1,346.0 is the strong resistance zone, above that $1,361.0 in the charts.

Downside-

· The area below $1,329.0, $1,318.0 is the major support zone.

· A day close below the level of $1,318.0 will push gold towards $1,307.0, $1,300.0, and $1,286.0.

· The trend changes after a day close below $1,245.0.

· RSI favours the downside in the daily and hourly charts.

Recommendations-

· Intraday- Above $1,346.0, next targets are at $1,350.0 and $1,361.0.

· On positional basis, until the price trades above the level of $1,346.0, we can't see higher levels.

$1,245 < $1,286 < $1,300 < $1,307 < $1,318 > $1,329 > $1,346 > $1,361

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Technical analysis of USD/CAD for March 03, 2014 Trend News

The pair broke a 2-month support trend line, but managed to close above the trend line. The pair is trading at the level 1.1058 in Asia. In the hourly chart the RSI gives a positive indication, expect some pullback towards 1.1084 and 1.109. If the pair breaks below 1.1055, more panic is expected towards 1.0968 and 1.095. From October 2013 onwards the pair is taking support at 21 and 40DEMA levels. Currently, the level of 1.105 is the 21DEMA and 1.0986 is the 40 DEMA. If the price breaks the important EMA's, the next strong support will be at the level of 1.09487. Overall, the trend is very weak, sell on rallies.

S1 1.105 R1 1.1084

S2 1.104 R2 1.1097

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Technical analysis of USD/CHF for March 03, 2014 Trend News

The pair broke the strong support at the level of 0.8800 on Friday. It made a low at 0.8878. The pair is trading in a descending pattern for more downward. During the Asia's trading session, the pair is trading at the level of 0.8795. More downside action is expected below 0.8770 towards 0.8648 and 0.8568.The pair is trading below all the short-term moving averages, resulting bearish view. In the hourly chart the RSI gives positive divergence, so we can expect some pullback from the current levels. On the intraday basis, 0.8778 is the strong support. 0.8770 acts as the trend decider level.

S1 0.8778 R1 0.88195

S2 0.8770 R2 0.88415

Bulls are back on track only above if the price trades above the level of 0.8980.

Panic below 0.8700, towards new lower levels.

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Technical analysis of USDX for March 03, 2014 Trend News

The US government revised its economic growth for the fourth quarter as consumer spending and exports were less than calculated earlier. The annual GDP expanded 2.4%, down from 3.2%. The US dollar fell to 79.69, a one-year low. In Friday's trading session, USD made a low at the level of 79.69, taking support from October 31, 2013, a low was at 79.68. The fall started at Thursday's trading session, when the price made a high at the level of 80.58, whereas the nearest resistance level was 80.61 50SMA.

In the Asia's trading session, USD is trading at the level of 79.86. In the hourly chart, RSI is giving positive divergence. If the price trades above the level of 79.93, we can see some pullback from the cmp on an intraday basis. In Friday's trading session, USD made a base at the level of 79.69. A break below it will attract more shorts.

S1 79.68 R1 79.93

S2 79.20 R2 80.45

Intraday- Buy with sl 79.68-79.67, targets 79.93, 80.05, and 80.20.

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Technical analysis of EUR/USD for March 03, 2014 Trend News

When the European market opens, some economic news will be released such as Spanish Manufacturing PMI, Italian Manufacturing PMI, Final Manufacturing PMI, and the ECB President Draghi Speaks. The US will release the economic data too such as the US-Core PCE Price Index m/m, US-Personal Spending m/m, US-Personal Income m/m, US-Final Manufacturing PMI, US-ISM Manufacturing PMI, US-Construction Spending m/m, US-ISM Manufacturing Prices, US-ISM Total 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: 1.3844.

Strong Resistance:1.3835.

Original Resistance: 1.3822.

Inner Sell Area: 1.3809.

Target Inner Area: 1.3776.

Inner Buy Area: 1.3743.

Original Support: 1.3730.

Strong Support: 1.3717.

Breakout SELL Level: 1.3708.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3730 and 1.3822. The rate is accompanied by strong support at 1.3717 and by 1.3835 as strong resistance.

If EUR/USD breaks out and closes below the 1.3708 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3844 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 1.3743 and at 1.3809, a SELL position. In this case both targets should be placed at the level of 1.3776.

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 Silver for March 03, 2014. Trend News

Technical outlook and chart setups:

1. Silver might have formed an intermediary top at $22.30. Minimum implications are for a pullback towards $20.50/20.00 levels and then resumption of rally. It is recommended to initiate/remain short for now, risk remains at $22.75.

2. Immediate resistance is at $23.00, followed by $23.50, while supports are spread through $20.50 (past resistance turned support), followed by $20.00 and $19.00 respectively.

3. The structure reveals that a meaningful retracement is due towards at least $20.50/20.00 levels before the bulls are back in control.

Trading recommendations:

Remain short, stop is at $20.75, target is open.

Good luck!

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Technical analysis of Gold for March 03, 2014. Trend News

Technical outlook and chart setups:

1. Gold rallies to test recent highs at $1,345.00 levels. A push through it, will take prices towards $1,355.00/60.00. For now, it is recommended to remain short, risk remains at $1,349.50.

2. Immediate major resistance is at $1,360.00, followed by $1,370.00/80.00, while supports are spread through $1,307.00, followed by $1,280.00/70, $1,230.00/20.00 and lower respectively.

3. The structure reveals that a failure to push through recent highs would bring down Gold prices to at least $1,280.00. It is further possible to test the back side of the resistance line, which is support now at $1,210.00/20.00.

Trading recommendations:

Remain short, stop is at $1,349.50, target is open.

Good luck!

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Daily analysis of USDX for March 03, 2013 Trend News

Daily chart: The USDX opened this week with a bullish gap, but remember that the USDX has been in a strong bearish bias, so this gap can help the USDX begin to form a higher low pattern to continue falling. The nearest support level is at the level of 79.50 and it is very likely that USDX falls there. The USDX remains below the 200 SMA and MACD is in negative territory.

H4 chart: The USDX is maintained within the range between the 79.93 and 79.81 levels, where is forming a bearish pattern. If the USDX does make a breakout at the level of 79.69, it's expected to fall to the level of 79.10, which holds one bearish trend line. On the other hand, if the USDX manages to consolidate above the resistance level of 79.93, it's expected to rise to the level of 80.09. The MACD indicator is in negative territory.

H1 chart: The USDX is forming a bearish pattern below resistance level of 79.88. Now, the bearish bias is very strong, so it's highly recommended to follow putting sell orders on the USDX. If the USDX does make a breakout in the support level of 79.64, it's expected to fall to the level of 79.39. The MACD indicator is oversold and entering positive territory, so we must be careful anyway.

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 79.64, take profit is at 79.39, and stop loss is at 79.90.

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Daily analysis of GBP/USD for March 03, 2013 Trend News

Daily chart: GBP/USD opened this week with a bearish gap although the pair remains very strong in the current bullish bias. For this week, it is likely that this pair have to contend with the strong resistance level of 1.6766. If the pair manages to make a breakout at that level, it would be expected to rise to the level of 1.6851, which would strengthen the bullish trend. The MACD indicator is entering neutral territory.

H4 chart: This pair has found resistance at the bullish trend line near the 1.6760 level, so this week, the GPB/USD will try to consolidate above this level to go up to the resistance level of 1.6822. On the other hand, keep in mind that this pair has formed a fractal near the trend line. If the pair manages to make a breakout at the 1.6667 level, it's expected to fall to the level of 1.6644. The MACD indicator is in positive territory.

H1 chart: GBP/USD remains above the 200 SMA and the support level of 1.6700. Recall that this pair is making corrective movements to form a bullish pattern. If the pair manages to make a breakout at the resistance level of 1.6750, it's expected to rise to the psychological level of 1.6800. The MACD indicator is in the overbought zone and entering neutral 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 1.6750, take profit is at 1.6800, and stop loss is at 1.6700.

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