Technical analysis of EUR/JPY for March 17, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair seems to be bouncing off right from the trend line support as seen here. Please note that this region is also the past resistance turned support area. It is recommended to book profits from short positions taken earlier. Aggressive trade setup would be to go long again, risk remains below 140.00.

2. Immediate support is at 138.50/136.50 (intermediary), followed by 134.00, 131.00 and lower, while resistance is at 144.00 (intermediary), followed by 145.50 respectively.

3. The structure reveals that a bullish bounce here, would bring back control with bulls again and prices should rally back towards fresh highs.

Trading recommendations:

Book profits on short positions. Initiate longs now (141.05), set stop below 140.00, target is open.

Good luck!

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Technical analysis of GBP/CHF for March 17, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair is heading down towards 1.44 and 1.4350 levels for now. Please note that pullbacks towards 1.4600/50 should be used as opportunity to again initiate short positions. It is recommended to hold short positions for now.

2. immediate resistance is at 1.4850/1.4950/60, followed by 1.5120/30, while supports are spread through 1.4350, followed by 1.4200 and lower respectively.

3. The structure reveals that GBP/CHF should be heading lower towards 1.44, 1.43 and 1.42 levels respectively. Any pullbacks should be capped below 1.4600/1.4700.

Trading recommendations:

Remain short for now, stop is at 1.4700, target is at 1.4350.

Good luck!

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Technical analysis of AUD/USD for March 17, 2014 Trend News

AUD/USD is trading in an uncomfortable zone. The RBA kept the benchmark interest rate unchanged at its March meeting. We have seen numerous efforts from the RBA to weaken its currency, which it believes has become too strong and is damaging the economy. Traders are paying lots of attention towards the monetary policy meeting minutes going to be released on Tuesday.

Technical view-

Bearish view-

The pair is struggling to close above the high of 0.9085 set January 13 in the weekly and daily charts.

It is facing stiff resistance at the 38.2 Fib level in the daily chart.

In the weekly chart, the pair is trading near the descending trendline. Major trend change setup here.

Until the price closes above the 0.9085 level, sell on the rise.

It failed to give a breakout of Rising wedge formation.

Bulls view-

The pair is successfully holding above the short-term averages.

In the hourly, daily, and weekly charts, RSI gives a positive direction.

The area between 0.8922-0.8890 is the support zone, below which more weakness persists in the trend.

Between 0.9152-0.9166, there is the resistance zone, above which 0.9246 is the target.

Recommendations-

Intraday- Buy above 0.9025 for a target at 0.9095. If the price is unable to cross the level 0.9025, it will drift lower towards 0.8979.

Positional weekly- Sell until the price closes above the level of 0.9085, the first sign of weakness will be below 0.8923, more weakness is on the cards only below 0.8890 towards 0.8730 and 0.8659.

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Technical analysis of USD/CHF for March 17, 2014 Trend News

The pair moves in a 6-week continuous downtrend. Last Thursday, the pair made a low at the level of 0.8699. The pair will face stiff resistance at the R1 level in the H4 chart. If the pair crosses the R1, it will climb up to R2 at the level of 0.87705, and there it will face a strong resistance level (R2). The trend will change at the level of R2. If the pair crosses the R2 level, it will rise to 0.8878. In the hourly chart, the RSI is making a positive divergence. This view is purely hourly and intraday trading perspective. On the downside, if the pair breaks the previous low of 0.8699, it will drift towards 0.8648, 0.8611, and 0.8568.

Recommendations-

Intraday-

Buy with sl 0.8699, targets at 0.8746, 0.8768, 0.8788, and 0.8876.

Sell below 0.8699 with targets at 0.8648, 0.8611, and 0.8568.

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Technical analysis of Silver for March 17, 2014. Trend News

Technical outlook and chart setups:

1. Silver rallied past the $21.70 mark taking out stops. It is recommended to remain flat for now, though the metal looks vulnerable to resume the fall. Please note that the metal has bounced off the 0.382 fibonacci support for now.

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

3. The structure reveals that Silver still has room for forming a bottom. Levels of interest is the 0.618 fibonacci retracement at $20.00, to initiate long positions.

Trading recommendations:

Remain flat for now. Look to go long around $20.00.

Good luck!

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Technical analysis of Gold for March 17, 2014. Trend News

Technical outlook and chart setups:

1. Gold continues to take out resistance levels at the moment and is just shy of the $1400.00 mark. A major retracement is still awaited to enter long. It is recommended to remain flat for now and look to buy lower around $1,250.00 levels.

2. Immediate resistance is at $1,395.00, followed by $1,410.00/13.00, while supports are spread through $1,310.00, followed by $1,280.00, $1230.00/40.00 and lower respectively.

3. The structure reveals that Gold needs to retrace lower, before resuming the next bull leg. $1,250.00 remains levels of interest here.

Trading recommendations:

Remain flat for now. Look to buy low.

Good luck!

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Technical analysis of USD/JPY for March 17, 2014 Trend News

In Asia, Japan will not release any economic data today and the US will release some economic data such as US-Empire State Manufacturing Index, US-TIC Long-Term Purchases, US-Capacity Utilization Rate, US-Industrial Production m/m, US-NAHB Housing Market Index. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 101.97.

Resistance. 2: 101.77.

Resistance. 1: 101.57.

Support. 1: 101.33.

Support. 2: 101.13.

Support. 3: 100.92.

DESCRIPTION:

Please, pay attention to the levels of support 3 (100.92) and resistance 3 (101.97). 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.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

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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Technical analysis of EUR/USD for March 17, 2014 Trend News

When the European market opens, some economic news will be released such as CPI y/y, Core CPI y/y, German Buba Monthly Report. The US will release the economic data too such as the US-Empire State Manufacturing Index, US-TIC Long-Term Purchases, US-Capacity Utilization Rate, US-Industrial Production m/m, US-NAHB Housing Market Index, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3975.

Strong Resistance:1.3966.

Original Resistance: 1.3953.

Inner Sell Area: 1.3940.

Target Inner Area: 1.3907.

Inner Buy Area: 1.3874.

Original Support: 1.3861.

Strong Support: 1.3848.

Breakout SELL Level: 1.3839.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3861 and 1.3953. The rate is accompanied by strong support at 1.3848 and by 1.3966 as strong resistance.

If EUR/USD breaks out and closes below the 1.3839 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3975 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 1.3874 and at 1.3940, a SELL position. In this case both targets should be placed at the level of 1.3907.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

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.

The material has been provided by InstaForex Company - www.instaforex.com



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Technical analysis of USD/CAD for March 17, 2014 Trend News

The pair is moving between the sidelines of 1.0955-1.1090. In Asia, the pair is trading at the level of 1.1096. As of now, the pair has been unable to cross the Friday's high, making lower highs formation. In the bullish front the pair is trading above all short- and medium-term moving averages. Further movement in the price action will take place only after a breakout happens either side. On the lower side, 1.1073, 1.1036, and 1.0955 are possible targets until the price gives a breakout to the upside. Major weakness is only below 1.0910 towards 1.0750 and 1.0645. On the upside, if the pair gives a breakout (flag pattern), the next possible targets will be at the level of 1.2195.

Intraday

S1 1.1089 R1 1.1111

S2 1.1079 R2 1.1131

S3 1.1041 R3 1.1154

Recommendation-

Sell below 1.1075, target is 1.1044

Buy with sl 1.10798, targets at 1.1224 and 1.1468.

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Daily analysis of major pairs for March 17, 2014 Trend News

EUR/USD: The bias on this pair is bullish, and the price is expected to trend higher this week. The possibility of pullbacks cannot be ruled out, but the threats should be contained at the support lines of 1.3850 and 1.3800 respectively. Meanwhile, the resistance line at 1.4000 is a valid target for this week.

USD/CHF: This is a bear market, although it is slow and tardy in manner. The support level at 0.8700 has been tested and it is should be easily re-tested, and breached to the downside. After this, the price would then go further downwards towards the support level at 0.8650 – which is our target for this week.

GBP/USD: The Cable, which is in kind of a trendless market, remains difficult for swing traders to handle. Only intraday strategies are recommended here. One may buy at the distribution territory of 1.6700 and sell at the accumulation territory of 1.6600, as long as the trendless phase holds out. Eventually, there is a serious breakout going to be that leads to a clear directional bias. When this happens, it is more likely to be towards the downside, until a bearish indication in the chart.

USD/JPY: Since the USD/JPY is extremely bearish, we are looking forward to selling on rallies this week. Yes, in the face of the current Bearish Confirmation Pattern in the chart, the only sensible thing is to seek a short trade when the price dippes in a downtrend. The price may reach the demand level at 100.50 this week.

EUR/JPY: EUR may not be as weak as USD, but the stamina in the yen is more than what the currency could withstand. This cross dropped throughout last week and the bearish scenario on it was confirmed. We are bearish for this week.

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Daily analysis of USDX for March 17, 2014 Trend News

Daily chart: The USDX is strengthening the bearish bias, as the USDX is approaching the support level of 79.19. That level could serve as a strong support for the USDX, so it could make bullish and bearish patterns to make a breakout at that level. On the other hand, if the USDX makes a bullish rebound at current levels, it is expected to rise to the level of 79.90. The MACD indicator is in negative territory.

H4 chart: The USDX found resistance near the 79.69 level and now the USDX is trying to make a breakout at the support level of 79.32. If successful, it is expected to fall to the level of 78.70. On the other hand, it is likely that the USDX will form a double bottom pattern. If successful, it is expected to rise again to the level of 79.69. The MACD indicator is in neutral territory.

H1 chart: The USDX is forming a higher low pattern above the support level of 79.39. If the USDX does make a breakout at that level, it would be expected to fall to the level of 79.13. On the other hand, it is expected to rise to the resistance level of 79.64 if the USDX makes a trend change at current levels. The MACD indicator is entering neutral 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 79.39, take profit is at 79.13, and stop loss is at 79.64.

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Daily analysis of GBP/USD for March 17, 2014 Trend News

Daily chart: This pair keeps moving below the resistance level of 1.6663. However, the bullish trend is still alive in the GBP/USD, because this pair is forming a bullish pattern on the daily chart. Last week, the pair formed a fractal near the 1.6540 level. If GBP/USD manages to make a breakout at the level of 1.6663, it's expected to rise to the level of 1.6766. The MACD indicator is in negative territory.

H4 chart: GBP/USD has made a bullish rebound above the 200-day moving average, so this pair is trying to make a breakout at the resistance level of 1.6644. If successful, it is expected to rise to the level of 1.6667. On the other hand, it is expected to fall to the support level of 1.6592 if the pair takes a bearish rebound to current levels. The MACD indicator remains in positive territory.

H1 chart: This pair is consolidating above the support level of 1.6629. If the pair manages to consolidate above the 200-day moving average, it's expected to rise to the resistance level of 1.6700. Furthermore, the GBP/USD may form a trend change pattern. If GBP/USD manages to consolidate below the 1.6629 level, it's expected to fall to the level of 1.6578. The MACD indicator is in positive 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 1.6629, take profit is at 1.6578, and stop loss is at 1.6682.

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Weekly technical levels of GBP/USD for March 17-21, 2014 Trend News

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 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 the trend breaks resistance or support through, it is likely to result in a significant price movement, it is also referred to a breakout.

Observations :

• If the trend is of an upside character, then the strength of the currency will be defined as following: GBP is an uptrend and USD is a downtrend.


• Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account. Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, you will surely lose your profit.


• 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.

Technical Levels :

• Projected high: 1.6895


• Strong resistance (sell limit): 1.6975


• Current pivot: 1.6654


• Strong support (buy limit): 1.6395


• Projected low: 1.6410

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Weekly technical levels of EUR/USD for March 17-21, 2014 Trend News

Weekly technical levels of the EUR/USD pair.

Notes :

• The double top will set at the level of 1.3966.


• The minor support is going to set at 1.3901. And this level is going to represent the weekly pivot point on March 17, 2014.


• The major support had already set at the price of 1.3836. Moreover, the double bottom is also coinciding with the major support for March 17-21, 2014.


• The price hit the weekly pivot point and the resistance 1 last week, because of the series of relatively equal highs and equal lows.


• We expect a range of 153 pips this week.

Technical levels for March 17-21, 2014.

• Projected high: 1.4184


• Breakout (buy stop): 1.4129


• Strong resistance (sell limit): 1.4099


• Current pivot: 1.3900


• Strong support (buy limit): 1.3700


• Breakout (sell stop): 1.3675


• Projected low: 1.3625

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