Technical analysis of AUS/USD for March 12, 2014 Trend News

Australian dollar is slightly lower on Tuesday's trading session. Traders' eyes are on employment change data. Employers in Australia have probably added 15,300 new jobs in February. The AUD/USD pair remains in an uptrend from 0.8890, the fall from 0.9133 is likely correction of the uptrend. Support is at 0.8925, as long as this level holds, the uptrend could be expected to resume, and the next the target would be at 0.9220, 0.9250 and 0.9306 levels. On the downside, a breakdown below 0.9000 and 0.8925 on a daily basis will indicate that lengthier consolidation of the long term uptrend from 0.8660 (Jan 24 low) is underway, then the pair will find support around 0.8890 March 03 low.

In the hourly chart, the RSI is giving a buy signal, expecting pullback from the lower level. The pair is trading below the moving averages in the hourly chart. It will gain more strength only above the level 0.9010 towards 0.9021, 0.9050, 0.9072 on intraday basis. But in the H4 and daily chart, the RSI is giving sell signals. In the daily chart, the RSI has given an early warning signal of a breakdown; however, it is not confirmed yet. On the daily basis, if the pair doesn't cross the level 0.9055, the downside target 0.8810 will be still open.

INTRADAY- above 0.8978 pull back expected

S1 0.8961 R1 0.8978

S2 0.8936 R2 0.9010

S3 0.8890 R3 0.9022

POSITIONAL-

S1 0.8925 R1 0.8982

S2 0.8873 R2 0.9050

S3 0.8693 R3 0.9133

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

The EUR/USD pair stays above the 21EMA level in 4-hour chart, and remains in uptrend from 1.3477. The uptrend could be expected to continue after a minor consolidation, and the next target would be at 1.4000 area. Initial support is at 1.3825, and the key support is at the trend line, only a clear break below the trend line support could signal the completion of theuptrend. In the H4 chart, oscillators are giving a sell indication. We could expect the price to fall before it moves further. If the price breaks below the level 1.38509, it will fall up to 1.3834 1.38232 and 1.3799. More downside only below 1.3799 towards 1.3718.

Recommendations-

Sell below 1.38509 targets1.3834, 1.3823, 1.3799 and 1.3718

Buy above 1.3877 targets 1.3898, 1.3915 and 1.40(above 1.3910 only further up move).

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Technical analysis of USD/JPY for March 12, 2014 Trend News

The pair fell during the Tuesday's session, but as you can see it spent the end of the day bouncing in order to form a hammer. This hammer is situated at the 103 odd level, so we feel that the market is sending a signal that we are in fact going to continue going higher. With that in mind, we are buyers on a break of the top of the hammer, and more specifically on a break of the top of the shooting star from Friday. Once that happens, we feel that the 105 level will be targeted.

In the hourly chart, the pair has broken the support trend line and now is trading below it. The level 103.04 is acting as intraday resistance. In the early hours of Asia's Wednesday trading session, the pair opened as an open high counter, which gives a sell signal on an hourly basis until it trades above the 103.04 level. The level 102.85 is acting as strong support. The oscillators are giving a buying signal. We'll remain in a buy move if it trades above the 103.04 level for 103.32, 103.42 and 103.76. The pair will get more bull strength only above the level 103.20. On the down side, the pair looks weak below 102.716 200 EMA for more downside towards 102.24 and 102.0

Intraday recommendation- 102.95 is the key level for intraday

Buy above 103.04 for targets 103.20, 103.32,103.42 and 103.76 sl 102.71.

Sell below 102.716 for targets 102.24 and 102.0

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

When the European market opens, some economic news will be released such as French Final Non-Farm Payrolls q/q, Industrial Production m/m.The US will release the economic data too such as the US-Crude Oil Inventories, US-10-y Bond Auction, US-Treasury Sec Lew Speaks, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3923.

Strong Resistance:1.3914.

Original Resistance: 1.3901.

Inner Sell Area: 1.3888.

Target Inner Area: 1.3855.

Inner Buy Area: 1.3822.

Original Support: 1.3809.

Strong Support: 1.3796.

Breakout SELL Level: 1.3787.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3809 and 1.3901. The rate is accompanied by strong support at 1.3796 and by 1.3914 as strong resistance.

If EUR/USD breaks out and closes below the 1.3787 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3923 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 1.3822 and a SELL position at 1.3888, . In this case both targets should be placed at the level of 1.3855.

Best regards,

Arief Makmur

Official Analyst of InstaForexGroup

InstaForex Group

http://instaforex.com

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

Disclaimer:

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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

Daily chart: The bearish bias on GBP/USD continues to strengthen and it is very likely that this pair falls to the support level of 1.6540. This breakout could begin a strong bearish trend in the medium term. If the pair manages to consolidate below that level, it is expected to fall to the level of 1.6447. The MACD indicator is still in negative territory, so the bearish outlook remains intact.

H4 chart: This pair has dropped to the 200-day moving average which is forming a higher low pattern. If the pair manages to consolidate below the support level of 1.6583, it's expected to fall to the level of 1.6516. On the other hand, if it manages to make a breakout on the resistance level of 1.6667, it's expected to rise to the level of 1.6822. The MACD indicator is entering oversold.

H1 chart: The GBP/USD has consolidated below the point of control near the resistance level of 1.6629. If the pair manages to make a breakout in the support level of 1.6578, it's expected to fall to the level of 1.6544. However, this pair is likely to try to consolidate above the POC, although the bearish bias remains very strong. 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 1.6578, take profit is at 1.6544, and stop loss is at 1.6611.

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Daily analysis of USDX for March 12, 2014 Trend News

Daily chart: The USDX continues to consolidate in the bearish trend, but we must be aware of any upward to the resistance level of 80.11, as the USDX is showing signs of recovery. If the USDX does make a breakout at that level, it is expected to rise to the level of 80.62. Furthermore, if the USDX consolidates below the level of 79.19, it's expected to fall to the level of 78.50. The MACD indicator is oversold.

H4 chart: The USDX is trying to make a breakout on the resistance level of 79.81. If successful, it is expected to rise to the level of 79.93. Moreover, if the USDX consolidates below the level of 79.69, it's expected to fall to the level of 79.35. The MACD indicator is in positive territory and the USDX remains below the 200 SMA.

H1 chart: The USDX found resistance at the 200-day moving average, so the USDX is trying to make a breakout at that level. If successful, it is expected to rise to the resistance level of 80.15, which would begin a bullish intraday trend. Furthermore, if the USDX consolidates below the level of 79.64, it's expected to continue to drop for some more days. The MACD indicator is in negative territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 79.88, take profit is at 80.15, and stop loss is at 79.61.

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

The pair established a prominent top around 1.1220 which pushed the USD/CAD pair back to the previous congestion zone between 1.0850 and 1.0960.

This congestion zone provided a considerable support at retesting on February 19. This led again towards 1.1190 where the USD/CAD pair topped on February 21 establishing a possible Double Top reversal pattern.

Price levels of 1.0950 and 1.0850 correspond not only to a previous congestion zone but also to the uptrend line that was initiated in September 2013, thus the market may offer a good BUY opportunity around 1.0900 with stop loss as daily closure below 1.0850.

In the long-term, the bullish demand expressed at 1.0960 is probably pushing towards 1.1235 corresponding to 50% Fibonacci.

Currently, the pair is roughly trapped within a new congestion zone located between 1.0960 and 1.1180.

A bullish breakout is more likely to occur based on the previous weekly candlestick (a bullish hammer) which indicates a strong bullish movement yet to occur. However, some bearish correction isn't excluded especially after yesterday's candlestick which is an inverted hammer.

Generally, any bearish corrective movement should be contained above 1.1000. Otherwise, the ongoing bullish structure will be threatened.

It's important to note that a daily fixation above 1.1180-1.1235 will probably open the way towards the next resistance level around 1.1650 which corresponds to 61.8% Fibonacci which is prominent on the weekly chart.

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Intraday technical levels and trading recommendations for GBP/USD for March 11, 2014 Trend News

On Friday, After the GBP/USD pair breached price level of 1.6785, the market expressed a Shooting Star daily candlestick indicating strength of the bearish momentum on these levels.

From the fundamental prospective of view, the U.S. employment improved by 175 thousand during February. This contributed to the recent decline in the pound sterling against USD below the level of 1.6680.

As depicted on the chart, the next demand level is located around 50% Fibonacci at 1.6540. This is the next destination for the bears.

As long as 1.6820 remains the highest level for the month, price level of 1.6540 remains targeted by the bears in order to gather enough bullish momentum to push higher again.

Another scenario is that a Double Top pattern is being established with neckline located around 1.6600-1.6580 which is being tested today with some bullish rejection being expressed so far.

Daily fixation below this neckline will enable the pair to reach 1.6400 as a projection target. Otherwise, another swing towards 1.6800 would be expected.

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Intraday technical levels and trading recommendations for EUR/USD for March 11, 2014 Trend News

Successive ascending bottoms were established on the daily chart. This means the uptrend line established on September 2013 is still intact.

As expected, the ongoing bullish impulse succeeded in hitting price level of 1.3900 on Friday. This level corresponds to 100% Fibonacci Expansion.

According to the fundamental point of view, ECB's President Mario Draghi stated that the fundamental data indicates a continuous improvement in the economy. This contributed to the recent bullish jump that took place on Friday despite positive employment news for USD. That's why, Friday's candlestick ended up with a long upper tail representing bearish rejection at the end of the day.

In the 4H chart, the pair failed to keep its earlier gains after the release of the U.S. employment change which recorded 175,000.

It is worth mentioning that the closure of the pair below 1.3820 level will reduce the probability of pursuing its ongoing strength, but the bears need to close below 1.3730 to end the bullish trend on the short-term prospective.

Bullish momentum needs 4H closure above 1.3888 to remain strong for further bullish targets around 1.3950 initially.

Technically, the price zone of 1.3630-1.3720 which is trapped between 50% and 61.8% Fibonacci levels, remains an important demand zone for the pair.

Stop loss for the bullish scenario is located below 1.3700-1.3720.

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Technical analysis of USD/JPY for March 11, 2014 Trend News

Overview:

USD/JPY is expected to consolidate. USD/JPY is undermined by the unwinding of JPY-funded carry trades amid diminished investor risk appetite (VIX fear gauge rose 0.64% to 14.2, S&P slipped 0.05% overnight) on sluggish economic data from Asia. China reported a surprise trade deficit after its exports tumbled 18% in February from a year earlier. Meanwhile, Japan's 4Q economic growth was trimmed to 0.7% from an initial estimate of 1%. Besides, there are concerns about the crisis in Crimea. USD/JPY also weighed by lower the U.S. Treasury yields and the Japanese exports. But USD/JPY downside is limited by the demand from Japan importers, positive dollar sentiment as Friday's stronger-than-expected U.S. non-farm payrolls data continue to impact.

Technical сomment:
Daily chart is mixed as MACD is bullish, five-day moving average are above 15-day MA and is advancing, but stochastics is turning bearish at overbought 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 103.7 and the second target at 104.05. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 102.80. A breach of this target will push the pair further downwards and one may expect the second target at 102.60. The pivot point is at 103.10.

Resistance levels:

103.7

104.05

104.4

Support levels:

102.8

102.6

102.30

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

Overview:

In today's 4H chart, yesterday's closing below the resistance level of 173.50 gave the price an opportunity for a bearish move. As shown here, currently the price is trying to continue its bearish move by breaking the support level of 171.50 and closing 4H below. In that case, we may get another opportunity for more sell signals, and it opens the way towards the level of 170.50, as first target, and then the price should test the support level firstly to continue its bearish move. But as long as the price stabilizes above the support level of 171.50, it cancels the first scenario.

Resistance and support levels: R3(173.50), R2(172.75), R1 (172.00), S1(171.50), S2 (170.50), S3 (169.75).

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

Overview:

USD/CHF is expected to range trade. It is undermined by the franc demand on soft EUR/CHF cross and flows to safe-haven CHF amid decreased risk appetite. But USD/CHF downside is limited by the positive dollar sentiment. Daily chart is still negative-biased as MACD and stochastics are bearish, 5- and 15- day moving averages are declining.

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 0.877. A breach of this target will move the pair further downwards to 0.875. The pivot point stands at 0.8815. In case the price moves in the opposite direction, bounces back from support level, and then moves above its pivot point, it is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.884 and the second target at 0.8860.

Resistance levels:

0.884

0.8860

0.8895

Support levels:

0.877

0.875

0.8715

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

Overview:

NZD/USD is expected to trade in higher range. The movement is supported by the kiwi demand on soft AUD/NZD cross and hawkish Reserve Bank of New Zealand's monetary policy stance. The RBNZ is due to announce its policy decision on Thursday 9 am NZ time. But NZD/USD gains are tempered by the concerns over economic slowdown in China, kiwi sales on NZD/JPY cross amid decreased investor risk appetite and positive dollar sentiment. Daily chart is mixed as MACD is bullish, 5- and 15- day moving averages are advancing, but stochastics is turning bearish at overbought 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 0.852 and the second target at 0.8545. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.84. A breach of this target will push the pair further downwards and one may expect the second target at 0.8370. The pivot point is at 0.843.

Resistance levels:

0.852

0.8545

0.8590

Support levels:
0.84

0.8370

0.8330

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Daily analysis of Silver for March 11, 2014 Trend News

Overview

As shown in today's 4H chart, the metal failed last week to break the Support area which consists of the Support level of 20.55 with the upward trend line and is still trading between the Support level of 20.90 and below the Resistance level of 21.25. Currently, it is bouncing from the Support level and preparing for the bullish move holding above the upward trend line. So we still suggest waiting for closing above the Resistance level of 21.25 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 21.75. Then, after breaking this Resistance level, silver would open the way towards the Resistance level of 22.00, which means more bullish signals, but as long as the metal trades below the Resistance level of 21.25, the bullish scenario is invalid.

Resistance and support levels: R3 (22.20), R2 (22.00), R1 (21.75), S1 (21.25), S2 (21.00), S3(20.50).

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

Overview:

GBP/JPY is expected to range trade. It is supported by the positive euro sentiment and demand from the Japanese importers and loose BOJ's monetary policy. But GBP/JPY upside is limited by the diminished investor risk appetite and Japan's exports sales. Daily chart is positive-biased as MACD and stochastics are bullish, although latter is at overbought zone, 5- and 15-day moving averages are advancing.

Trading recommendation:

The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 171.3. A breach of this target will move the pair further downwards to 170.5. The pivot point stands at 172.3. In case the price moves in the opposite direction, bounces back from support level, and then moves above its pivot point, it is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 172.90 and the second target at 173.60.

Resistance levels:

172.90

173.60

174.10

Support levels:

171.30

170.50

170

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Technical analysis of EUR/JPY for March 11, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY is trading sideways (in smaller time frames) between 142.90 and 143.50. The pairs seems to have hit major resistance at sub 144.00 levels and is about to resume lower. It is therefore recommended to remain short/initiate fresh short positions around current price (143.00/10), risk remains at 145.50.

2. Immediate resistance is at 144.00 (fibonacci 0.786 resistance), while supports are spread through 138.00 (intermediary), followed by 136.50 (intermediary), 132.00, 130.00 and lower respectively.

3. The structure reveals that EUR/JPY is stalling ahead of 144.00 levels and that bears might regain control from here on. A break below 138.00 is required though, to confirm the same.

Trading recommendations:

Remain short, stop is at 145.50, target is open.

Good luck!

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

Technical outlook and chart setups:

1. The GBP/CHF pair has stopped us out again at 1.4600. At the moment the pair is approaching the support trend line near 1.4550 region. It is recommended to remain flat for now and await for reaction at 1.4550 levels before committing.

2. Immediate support is at 1.4550, followed by 1.4350, 1.4200 and lower, while resistance is spread through 1.4850/1.4900, followed by 1.4950/60 and higher at 1.5120/30 respectively.

3. The structure reveals that a trend line bullish bounce will bring back bulls into action and prices should continue moving higher towards 1.4950/60 and 1.5200. On the flip side, a break of support line would prove further bearish towards 1.44 and 1.42 respectively.

Trading recommendations:

Flat for now.

Good luck!

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

Technical outlook and chart setups:

1. Silver has bounced off the $20.50/60 mark, which is also the 0.382 fibonacci support of the entire rally from sub $19.00 levels to $22.30. As seen here the counter trend line is still intact and only a bullish break above would instill further confidence in the current rally. At the moment, it is recommended to hold short positions and also look to add further around current level ($21.20/30).

2. Immediate resistance is at $21.75/$22.30 (intermediary), followed by $23.00, while supports are spread through $20.50, followed y $20,00, $19.00 and lower respectively.

3. The structure reveals that Silver is retracing towards $20.00 region in a corrective manner. Short term trading strategy should be selling rallies.

Trading recommendations:

Remain short, move stop to break even levels, target is at $20.00

Good luck!

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

Technical outlook and chart setups:

1. Gold is unchanged for now and trading within the tight range between $1,330.00 and $1,350.00 at the moment. A range breakout is imminent and should be powerful, with bias on downside favored. It is recommended to initiate fresh short positions around $1,350.00/51.00, and hold earlier shorts as well. Risk remains at $1,359.50.

2. Immediate resistance is at $1,361.00, followed by $1,375.00, while supports are spread through $1,330.00/20.00, followed by $1,280.00, $1,230.00/40.00 and lower respectively.

3. The structure reveals that sideways resistance is at $1,352.00 at the moment. Prices should remain well capped below this level for now. However, a push through $1,354.00 should challenge higher levels.

Trading recommendations:

Remain short for now, stop is at $1,359.50, target is open.

Good luck!

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EUR/NZD analysis for March 11, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading downwards, the price tested the level of 1.6294 on average volume. Our previous analysis is still active and in progress. Be careful with selling since we've got buying climax in the background starting from the level of 1.6191. EUR/NZD is in short- and mid-term bullish trend, so watch for buying opportunities on the dips and try to catch the bullish continuation phase. I have placed Fibonacci levels to find potential upper stations. I got Fibonacci Retracement 38.2% at the price of 1.6375 (already met) and Fibonacci Retracement 61.8% at the price of 1.6485. I have also placed Fibonacci retracement levels to find potential end of bearish correction and I got Fibonacci Retracement 61.8% at the price of 1.6285. Anyway, its very risky to sell at this stage, so my advice is to watch for potential bullish movements on the dips.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6422

R2: 1.6440

R3: 1.6469

Support levels:

S1: 1.6364

S2 : 1.6346

S3: 1.6317

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

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#USDX technical analysis for March 11, 2014 Trend News

The Dollar index tried yesterday to make an upward bounce, but it still remains below resistance levels. The downward sloping wedge is getting narrower every hour. Short-term resistance is found at 79.95. Short-term support is found at 79.60.

The trend remains down and so we remain bearish. Important medium-term resistance is found at 80.20 and medium-term target is found at 79.15. The downward pattern is an overlapping move, but as long as we see lower lows and lower highs, we remain bearish.

The weekly chart above remains bearish in the longer term. With Ichimoku clouds still above the current price, we do not feel that bullish positions are preferred at this point as far as the longer-term technical view of the Dollar index. Only a break above 81.30 could change the longer-term view we have. For the short-term, our bearish view would change if the index breaks above 80.50.

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Gold technical analysis for March 11, 2014 Trend News

Gold price although it got rejected at $1,355, has pulled back to make a new lower low below $1,330 but sharply came back above the support price level. Gold price trend is neutral as price is trapped within the $1,355-$,1330 range. Important support levels like $1,330-20 have held so far. Gold price is now bouncing from the Ichimoku cloud support towards the 76.4% Fibonacci retracement of the latest decline.

The downward sloping trend line is resistance for Gold price. Breaking above this trend line at $1,353 will bring in more buyers and will push to new highs towards $1,360-70. Gold price is now testing resistance levels. Support is found at $1,337-35. Breaking below this level will push towards $1,328-25.

The sideways consolidation is evident in the daily chart as well. Long-term trend remains up but a top could be forming so bulls should be very cautious in case support at $1,330 fails.

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

Forecast in the short term :

• According to previous events, the NZD/USD pair is trapped between 0.8522 and 0.8484.


• The resistance will be formed at the level of 0.8545 providing a clear signal for sell deals with the target seen at 0.8444.


• Stop-loss is to be placed above 0.8570.


• The support will be formed at the level of 0.8440 providing a clear signal for buy deals with the target seen at the 0.8530 level.


• Stop-loss is to be placed below 0.8415.

Notes :

• The weekly pivot point will set at the price of 0.8444.


• Range:120 pips. Hence, the risk of 120 pips must make a profit of 180 pips.


• Volatility: 151.78.

Technical levels :

• R3: 0.8725


• R2: 0.8624


• R1: 0.8545


• PP: 0.8444


• S1: 0.8365


• S2: 0.8264


• S3: 0.8185

Warnings :

• Stop loss should never exceed your maximum exposure amounts.


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

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

• The weekly pivot point: 0.8809

Overview :

• The USD/CHF pair is going to set strong resistance at the level of 0.8866 and support at 0.8730. Equally important, the price is still moving between 0.8810 and 0.8760. Also, the USD/CHF pair has still been below 61.8% of Fibonacci retracement levels since March 6, 2014. As a result, the price has already formed the strong resistance at this level of 0.8866 and it is now approaching it in order to test it. Therefore, the Swissy will get a downside momentum rather convincing and the structure of the fall does not look corrective, for indicating a bearish opportunity below the 0.8866 level for that it will a good sign to sell below 0.8866 with a first target of 0.8809 (this level is coinciding with the weekly pivot point for March 10- 14, 2013) and it will call for downtrend in order to continue bearish towards 0.8933. Additionally, the price is at 0.8756 to test the double bottom. On the other hand, the stop loss should always be taken into account, thus it will of the wisdom to set your stop loss at the price of 0.8890.

Technical levels :

Date and Time: 11/03/2014 08:39

Pair: USD/CHF

• R3: 0.9000


• R2: 0.8947


• R1: 0.8862


• PP: 0.8809


• S1: 0.8724


• S2: 0.8671


• S3: 0.8586

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Technical analysis of EUR/JPY for March 11, 2014 Trend News

General overview for 11/03/2014 08:00 CET:

The consolidation phase continues and the price action starts to look like a triangle wave (iv). The red trend line still provides the resistance and both intraday support and resistance levels are the same like yesterday. Bias is still to the downside for one more corrective sub-wave down and then the uptrend should resume for last fifth wave up.

Support/Resistance:

145.49 - WR1

143.78 - Wave (iii) green high

143.59 - Intraday resistance

142.85 - Intraday support

142.31 - Weekly pivot

140.86 - WS1

Trading recommendations:

Still buy stop orders should be opened from the level of 143.85, with SL below the level of 143.59 and TP at the level of 145.49 with a possible upside extension. In case of downside breakout below the level of 142.85, sell stop orders should be opened, with SL above the level of 143.59 and TP at the level of 142.51 and 142.31.

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Daily analysis of major pairs for March 11, 2014 Trend News

EUR/USD: The current southward retracement in the price is expected to be a temporary thing. The price could easily assume a renewed bullish effort and slash through the resistance line at 1.3900. It would, however, be mentioned again that our ultimate target for this week is at the resistance line of 1.4000.

USD/CHF: The current rally in the context of a downtrend is expected to be short-lived, plus it could get contained at the resistance level of 0.8800. Our target at the support level of 0.8750 remains unchanged. With the renewal of the bearish team, the price would easily test that support level.

GBP/USD: There is a short-term bearish signal on the Cable and it could test the accumulation territory at 1.6600. A breach of that accumulation territory would eventually result in a clean Bearish Confirmation Pattern, especially when the price closes below it.

USD/JPY: The Bullish Confirmation Pattern in the chart remains a valid indication. In fact, the bullish outlook would remain valid as long as the price stays above the EMA 56. The price could go towards the supply level at 103.50, while the near-term barrier to the bearish threats is at the demand level of 103.00. Normally, our target for the week is set at the supply level of 104.00.

EUR/JPY: Right now, any sale in the price should be seen as an opportunity to buy long in the market. The outlook here is bullish and it is expected to continue. The price would test the supply zone at 144.00.

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