Technical analysis of USD/CHF for March10, 2014 Trend News

The pair continues its downward trend towards the new lows. In the daily and hourly charts, the pair is trading below the moving averages, which gives more strength to bear. But in the H4 chart, RSI is giving a positive divergence. Indicating a pullback rally from the current levels. The pair is trading at 1.8779 in Asia's trading session. The major resistance level exists at 0.8849. We recommend to buy on intraday basis for targets 0.8787, 0.88010.8817, and 0.8846. On the downside, if the price breaks the 0.8769, it will fall up to 0.8757 and 0.8700.

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Technical analysis of GBP/USD for March 10, 2014 Trend News

The pair GBP/USD is moving sideways between 1.6584 - 1.6823. The pair has broken and closes below the 200DMA on September 2008 and move much lower. The pair attempted 2 times to close above this level, but resulted unsuccessful. From last 2 months the pair was consolidating near the 200DEMA and finally closed above the major resistance level. It gives a fresh breakout thoughts towards much higher levels 1.7025 and 1.7335 .

Upside

The strong support level exists at the level of 1.6584. In the H4 chart, the pair is trading at the level 1.6726 in the Asia's trading session. The 21DEMA level 1.6718 is giving support below that, 1.6706 and 1.6698 is the strong reversal level. Until the price holds the 1.6584 level, we assume 1.725 will be an open target.

Downside

If the price breaks the 1.6584 level, on the downside the pair will travel up to 1.6383 levels with interim support at 1.65787, 1.65384, 1.6426. Currently the oscillators in the daily chart don't favor to major up move. Before the price moves to much higher levels, the pair will correct a bit. The pair will get more strength if it trades above the level of 1.6786 Friday's high. If it's not crossed, the pair will correct up to 1.6643, 1.6571 and 1.6538.

INTRADAY

S1 1.6718 R1 1.6748

S2 1.6698 R2 1.6786

S3 1.6641 R3 1.6823

POSITIONAL

S1 1.6641 R1 1.6786

S2 1.6584 R2 1.6823

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Technical analysis of EUR/JPY for March 10, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair has stopped us out at 143.50 on Friday. But the pair has hit the 0.786 fibonacci resistance and reversed producing a doji and indicating that prices may move lower from here. It is recommended to again initiate short positions, risk remains at 145.50.

2. Immediate resistance is at 145.50, while supports are spread through 136.00 (intermediary) followed by 134.00, 131.00 and lower, respectively.

3. The structure indicates that prices are headed lower towards 132.00 and 130.00 till the time the pair remains below 145.50.

Trading recommendations:

Initiate short positions again, stop at 145.50, target open.

Good luck!

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Technical analysis of GBP/CHF for March 10, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair seems to be testing the lows ahead of 1.4600 levels at the moment. A reversal here would indicate that the next move is higher. It is recommended to hold long positions for now, risk remains at 1.4600.

2. Immediate resistance is at 1.4950/60 followed by 1.5120/30, while supports are spread through 1.4550 followed by 1.4350, 1.4200 and lower, respectively.

3. The structure reveals that a push below 1.4600 would confirm that bears are in control and prices are headed lower towards 1.44 and 1.42. On the other hand, a reversal here would want to re-test 1.5120/30 at least.

Trading recommendations:

Remain long for now, stop at 1.4600, target open.

Good luck!

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Technical analysis of Silver for March 10, 2014. Trend News

Technical outlook and chart setups:

1. Silver stands at 0.382 fibonacci support level at the moment. A push lower would expose $20.00/50 levels which is of more interest to go long. Remain short for now but reduce risk to break even levels.

2. Immediate resistance is at $23.00 followed by $23.50 and higher up, while supports are spread through $20.50 followed by $20.00, 19.00 and lower, respectively.

3. The structure indicates that Silver should continue drifting lower till around $20.00/50 levels. Please note that this region is also past resistance turned support and hence of more interest for a dip and reversal.

Trading recommendations:

Remain short for now, move stop to break even, target 20.50.

Good luck!

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Technical analysis of Gold for March 10, 2014. Trend News

Technical outlook and chart setups:

1. Gold has backed off again from $1,352.00 levels ahead of $1,361.00. It is quite possible that a top has been formed and the move will be lower from here. It is therefore recommended to remain short, risk remains at $1,359.50.

2. Immediate resistance is at $1,361.00 followed by $1,375.00 and higher up, while supports are spread through $1,320.00 followed by $1,270.00/80.00, $1,220.00/30.00 and lower, respectively.

3. The structure indicates that a lower top has been formed at $1,355.00 level and the next big move will be lower from here. A break below $1,320.00 is required to confirm further possibilities lower. Please note that the resistance turned support line is passing through $1,210.00 region now.

Trading recommendations:

Remain short now, stop at $1,359.00, target open.

Good luck!

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Daily analysis of USDX for March 10, 2013 Trend News

Daily chart: After the fall that the USDX had last week, now it is making corrective movements in favor of the bearish trend. Now, it is very likely that the USDX begins to form a higher low pattern below resistance level of 80.11. If the USDX manages to consolidate below the 79.50 level, it would be expected to fall to the support level of 79.19. The MACD indicator is in negative territory.

H4 chart: The USDX remains above the support level of 79.69. Now, the USDX is trying to make a breakout at that level, then fall to the bearish trend line near the 78.95 level. On the other hand, if the USDX manages to consolidate above the resistance level of 79.81, it's expected to rise to the level of 79.93. The MACD indicator is oversold.

H1 chart: The USDX had a fall below the support level of 79.64, but the USDX failed to touch the level of 79.39 and rose again to consolidate above the 79.64 level. If the USDX does make a breakout at the support level of 79.64, it's expected to fall to the level of 79.34. Furthermore, if USDX is able to consolidate above the level of 79.88, it's expected to rise to the level of 80.15. The MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks the bearish candlestick; the support level is at 79.64, take profit is at 79.39, and stop loss is at 79.89.

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Daily analysis of GBP/USD for March 10, 2013 Trend News

Daily chart: GBP/USD remains stable in the bullish bias, but also this pair remains within the range of 1.6766 and 1.6663 levels. If the pair manages to consolidate above the level of 1.6766, it's expected to rise to the resistance level of 1.6851. On the other hand, if the pair manages to make a breakout in the support level of 1.6663, it's expected to fall to the level of 1.6540, which would be a trend change. The MACD indicator remains in negative territory.

H4 chart: This pair is trying to fall to the support level of 1.6667. However, this pair remains above the 200-day moving average, so the bullish outlook remains alive for this pair. However, if the pair manages to make a breakout at the level of 1.6644 level, it's expected to fall to the level of 1.6592, where the 200-day moving average is located. The MACD indicator is entering negative territory.

H1 chart: Again, the GBP/USD found resistance near the 1.6775 level, so this pair remains below the resistance level of 1.6750. Now, it is very likely that this pair fall to the support level of 1.6700 where the 200-day moving average is located. However, it is very likely that the GBP/USD make a rebound at that level and up again to the level of 1.6750. 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 1.6750, take profit is at 1.6800, and stop loss is at 1.6700.

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Weekly technical levels of EUR/USD for March 10-14, 2014 Trend News

Technical levels of the EUR/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 trend breaks resistance or support through, it is likely to result in a significant price movement, it is also referred to as breakout.

Forecast :

• According to the previous events, the price of the EUR/USD pair has still been moving between 1.3910 and 1.3830.


• The level of 1.3914 is representing the double top, and the weekly support 1 is set at 1.3750.


• Buy above the price of 1.3850 in the long term with the first target at 1.38808, it might resume to 1.3960 if the trend will be able to break the double top at 1.3914.

Notes :

• The double top will set at the level of 1.3914.


• The major support is going to set at 1.3750.


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


• We expect a range of 200 pips this week.

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