Technical analysis of Gold for March 18, 2014. Trend News

Technical outlook and chart setups:

1. Gold finally produces an engulfing bearish reversal candle on the daily chart, remaining shy of $1,395.00 resistance. If this holds, the metal should be falling lower atleast towards $1,310.00. Short positions can be initiated around $1,380.00, risk remains at $1,390.00.

2. Immediate resistance is at $1,395.00, followed by $1,410.00, while supports are spread through $1,320.00/30, followed by $1,310.00, $1,280.00, $1,230.00/40.00 and lower respectively.

3. The entire structure reveals that, a major retracement may have begun with a minimum target of $1,310.00 levels. It is recommended to buy lower towards $1,250.00 levels.

Trading recommendations:

Aggressive trade setup is to sell between $1,380.00/82.00, stop is at $1,390.00, target is open.

Good luck!

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of Gold for March 18, 2014. . Thanks for your support on Technical analysis of Gold for March 18, 2014.

Technical analysis of USD/JPY for March 18, 2014 Trend News

In Asia, Japan will not release any economic data's for today and the US will release some economic data such as US-Building Permits, US-Core CPI m/m, US-CPI m/m, US-Housing Starts, US-TIC Long-Term Purchases. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.29.

Resistance. 2: 102.09.

Resistance. 1: 101.89.

Support. 1: 101.64.

Support. 2: 101.44.

Support. 3: 101.24.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.24) and resistance 3 (102.29). 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.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for March 18, 2014 . Thanks for your support on Technical analysis of USD/JPY for March 18, 2014

Technical analysis of EUR/USD for March 18, 2014 Trend News

When the European market opens, some economic news will be released such as German WPI m/m, Italian Trade Balance, German ZEW Economic Sentiment, ZEW Economic Sentiment, Trade Balance.The US will release the economic data too such as the US-Building Permits, US-Core CPI m/m, US-CPI m/m, US-Housing Starts, US-TIC Long-Term Purchases, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3993.

Strong Resistance:1.3984.

Original Resistance: 1.3971.

Inner Sell Area: 1.3958.

Target Inner Area: 1.3925.

Inner Buy Area: 1.3892.

Original Support: 1.3879.

Strong Support: 1.3866.

Breakout SELL Level: 1.3857.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3879 and 1.3971. The rate is accompanied by strong support at 1.3866 and by 1.3984 as strong resistance.

If EUR/USD breaks out and closes below the 1.3857 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3993 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 1.3892 and at 1.3958, a SELL position. In this case both targets should be placed at the level of 1.3925.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/USD for March 18, 2014 . Thanks for your support on Technical analysis of EUR/USD for March 18, 2014

Technical analysis of USD/JPY for March 18, 2014 Trend News

The pair is in a downtrend from the 105.44 levels, consolidating and taking support between 100.75 and 101.20. For the last two weeks, the pair is taking support at the 101.20 levels. If the pair breaks the level of 101.20, the immediate support comes at 100.75 and 100.0. Until the price breaks the support levels of 101.20-100.75-100.0, the bulls' predominance will continue. Any major trend change will take place only below the 100.0 mark. On the downside, if the pair breaks the 100.0 mark, it will drift up to the 97 levels.

On an intraday basis, the level of 101.93 is acting as resistance, if the pair crosses it, we will see 102.20, 102.45, and 102.60.

POSITIONAL

S1 100.75 R1 103.75

S2 97.0 R2 104.85

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for March 18, 2014 . Thanks for your support on Technical analysis of USD/JPY for March 18, 2014

Technical analysis of USD/SGD for March 18, 2014 Trend News

The pair is in a downtrend from the high of 1.2700. It made a double top on March 03, and consolidating near the support level of 1.2603. The pair is still in upward direction, consolidating before further up move. In the daily chart, the pair is trading below all the short- and medium-term moving averages. The level of 1.2603, saving bulls for the time being. It made a higher low with positive divergence. If the pair gives an upside breakout, we will see 1.2700 as the immediate target. Further up move will be intact if it crosses the 1.27 level. Above 1.27, we will see 1.2765 and 1.28 levels. On the downside, if the pair breaks the 1.2602, the immediate support comes at 1.2560, February 14 low. The level of 1.2560 is a crucial level for bulls, below it, 1.2519 and 1.2447 will open.

In the H4 chart, the pair has broken the support trend line and is trading below it. During Asia's trading session, it is trading at 1.2611. Whereas the nearest support is 1.2610-1.26. If the pair breaks this level, we will see some more downside towards 1.2560. The RSI is in an upward direction. We recommend to buy in the range between 1.2611 and 1.2560 with sl at 1.2519.

S1 1.2610 R1 1.2637

S2 1.2600 R2 1.2651

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/SGD for March 18, 2014 . Thanks for your support on Technical analysis of USD/SGD for March 18, 2014

Technical analysis of DAX Trend News

The German DAX breaks the H&S pattern on intraday basis. It breaks the yearly rising trendline and the neckline as well. During Friday's trading session, DAX broke the neck and 200EMA moving averages on intraday basis, and well managed to close above the 200EMA level. Now it is reaching towards the breakdown level at 9,285. A day close above the level of 9,285 makes some short covering in the market towards the level of 9,474. Friday's low of 8,914 is very crucial for coming days. A break below the level of 8,914 will make a dramatic fall towards 8,490 and 8,100 levels. In the daily chart, RSI is giving a buy signal. Hopefully, a pullback will be possible in the near term.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of DAX . Thanks for your support on Technical analysis of DAX

Technical analysis of USDX for March 18, 2014 Trend News

The US dollar index is trading in a weak trend. The pair is in a consolidation phase with strong support between 79.27 and 79.0. The RSI gives positive divergence indications in the hourly chart. A move below the 79 mark leads to more dramatic fall in coming days. On the upside, a move above the 79.70-79.87 area will attract buying bids. If the price crosses the 79.87, a buy call will generate towards the 80.12, 80.40, and 80.75 levels. In the daily chart, RSI is at a buying level. If any dramatic fall happens, it leads to oversold and a pullback will be expected in the near term. On the downside, if the price breaks the 79 mark, it will drift to 78.90 and 78.6 immediately. Buying is the best strategy in the near term.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USDX for March 18, 2014 . Thanks for your support on Technical analysis of USDX for March 18, 2014

Daily analysis of GBP/USD for March 18, 2014 Trend News

Daily chart: The GBP/USD continues to make quite slow movements, so this pair has not defined a trend for the next few days in this chart. For now, this pair is forming a higher low pattern below the resistance level of 1.6663. If the pair manages to make a bearish rebound at current levels, it would be expected to fall to the level of 1.6540. The MACD indicator is in negative territory.

H4 chart: This pair remains above the 200-day moving average and below the resistance level of 1.6644. If the pair manages to consolidate above this level, would be expected to rise to the resistance level of 1.6667. However, the current bullish bias remains very weak, so it is advisable to wait for a breakout at the level of 1.6667. The MACD indicator is in positive territory.

H1 chart: The GBP/USD has made a bearish rebound in 200 SMA, after this pair has found resistance at that level. However, this pair remains above the support level of 1.6629. If the pair manages to make a breakout at that level, it would be expected to fall to the level of 1.6578. The MACD indicator is in 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 1.6629, take profit is at 1.6578, and stop loss is at 1.6682.

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



For detail explanation and best discovery on market trends you may visit via Daily analysis of GBP/USD for March 18, 2014 . Thanks for your support on Daily analysis of GBP/USD for March 18, 2014

Weekly technical levels of USD/CHF for March 18-21, 2014 Trend News

Weekly technical levels of the USD/CHF pair.

Notes :

• We expect a range about 70 pips today.


• The risk of 70 pips must make a profit of 105 pips.


• The value of 50% Fibonacci retracement levels is 0.8751.


• The level of 0.8751 will confirm the bullish market.


• Volatility on March 27, 2014 is 92.76. As a rule, the market is highly volatile if the last day had a huge volatility.

Technical levels :

• It should be noted that the price will be moving between 0.8700 and 0.8775 today.


• Projected high: 0.8870


• Strong resistance (sell limit): 0.8865. At the price of 0.8865, the resistance will be.


• Current pivot: 0.8751


• Breakout (sell stop): 0.8633. At the price of 0.8633, the support will be set.


• Projected low: 0.8603

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



For detail explanation and best discovery on market trends you may visit via Weekly technical levels of USD/CHF for March 18-21, 2014 . Thanks for your support on Weekly technical levels of USD/CHF for March 18-21, 2014

Weekly technical levels of NZD/USD for March 18-21, 2014 Trend News

Weekly technical levels of the NZD/USD pair:

Trading recommendations :

• As it is known, history will probably repeat itself at this level again. So, according to the previous events, the NZD/USD pair is still moving between 0.8600 and 0.8530. Additionally, it should be noted that the minor support is going to set at the level of 0.8525. Moreover, the level of 0.8525 is representing the weekly pivot point on March 18, 2014. Equally important, the resistance will be set at the price of 0.8613 and the double top is set at the same price too. Therefore, sell at the price of 0.8615 with the first target at 0.8525 in order to test the weekly pivot point, then it will be gone towards 0.8450 (the weekly support 1). On the other hand, if the trend fails to close below the weekly support 1, hence buy above 0.8450 with target at the price of 0.3600 this week. Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.

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



For detail explanation and best discovery on market trends you may visit via Weekly technical levels of NZD/USD for March 18-21, 2014 . Thanks for your support on Weekly technical levels of NZD/USD for March 18-21, 2014

Intraday technical levels and trading recommendations for GBP/USD for March 17, 2014 Trend News

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

As long as 1.6820 remains the highest level for the month, the price level of 1.6540 remains the target for the bears.

Another scenario is that a Double Top pattern is being established with the neckline located around 1.6600-1.6580.

Daily fixation below this neckline will enable the pair to reach 1.6400 as a projection target.

During the past few days, the GBP/USD pair has been trapped within consolidation range established between 1.6580 and 1.6666. A breakout to the downside is a must to pursue further bearish targets.

Price zone of 1.6700-1.6730 remains an intraday supply for the pair.

The pair is moving within a bearish channel which is depicted on the chart. The upper limit around 1.6670 should be defended by the bears today in order to keep the bearish momentum.

As long as the bears are still defending price zone of 1.6700-1.6730, price level of 1.6580 remains vulnerable to breakdown. If so, a bearish swing towards 1.6500 is expected to occur shortly after.

Stop loss for the bearish scenario should be located above 1.6750.

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



For detail explanation and best discovery on market trends you may visit via Intraday technical levels and trading recommendations for GBP/USD for March 17, 2014 . Thanks for your support on Intraday technical levels and trading recommendations for GBP/USD for March 17, 2014

Intraday technical levels and trading recommendations for EUR/USD for March 17, 2014 Trend News

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

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

A Shooting Star daily candlestick was expressed on Thursday after topping at 1.3965.

Today, the bulls are trying again to breach supply level located at 1.3900. They have succeeded to hit price level of 1.3945 until now.

Daily closure above 1.3900 will enable the pair to reach its next destination at 1.3980 corresponding to 127% Fibonacci Expansion.

The pair is currently trapped within congestion zone located between 1.3840 and 1.3950. A breakout in either direction is needed to free the pair from this trap.

Price level of 1.3980 corresponds to the upper limit of the depicted bullish channel. Hence, it's expected to provide considerable SELLING pressure at retesting.

Technically, the price zone of 1.3775-1.3810 remains an important intraday demand zone for the pair. Price action should be watched for a possible BUY entry at retesting.

4H breakdown below 1.3775 will probably invalidate the bullish scenario opening the way towards 1.3650 initially.

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



For detail explanation and best discovery on market trends you may visit via Intraday technical levels and trading recommendations for EUR/USD for March 17, 2014 . Thanks for your support on Intraday technical levels and trading recommendations for EUR/USD for March 17, 2014

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

From the 4H chart, last week the pair failed to break the support level of 167.85 to reverse downward trend and take an upward move. From today's 4H chart, the pair bounced from the support level and started to take an upward movement approaching the resistance level of 169.75 which is tested right now. Currently it is prefered to wait till closing above this resistance level before making the decision and in this case we will get more bullish signals with the first target few pips below the next resistance level of 170.50 then 171.50 as the second target. But closing below the resistance level of 169.75 cancels the bullish move scenario.

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



For detail explanation and best discovery on market trends you may visit via Daily analysis of GBP/JPY for March 17, 2014 . Thanks for your support on Daily analysis of GBP/JPY for March 17, 2014

USD/CAD intraday technical levels and trading recommendations for March 17, 2014 Trend News

Previous congestion zone between 1.0850 and 1.0960 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 1.1190.

A bullish breakout is more likely to occur. However, some bearish correction isn't excluded especially after the previous few daily candlesticks which show indecision of the market.

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.

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



For detail explanation and best discovery on market trends you may visit via USD/CAD intraday technical levels and trading recommendations for March 17, 2014 . Thanks for your support on USD/CAD intraday technical levels and trading recommendations for March 17, 2014

Daily analysis of Silver for March 17, 2014 Trend News

Overview

Based on the 4H chart above, silver is still stabilizing between the support level of 21.25 and the resistance level of 21.75 after its rebounded from the resistance level last week. If silver continues its bearish move and manages to break the support level 21.25, it will produce a strong indicator for the downward move and open the way towards the support level of 20.90. In this case we should wait for the breakout of this level to continue the bearish move. On the other hand, the breakout of this resistance level will denote a bullish strength providing new buy signals from this level till reaching the resistance level of 22.00, then 22.20.

Resistance and support levels: R3 (22.20), R2 (22.00), R1 (21.75), S1 (21.25), S2 (20.90), S3 (20.55).

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



For detail explanation and best discovery on market trends you may visit via Daily analysis of Silver for March 17, 2014 . Thanks for your support on Daily analysis of Silver for March 17, 2014

EUR/AUD intraday technical levels and trading recommendations for March 17, 2014 Trend News

On February 13, the bulls expressed a bullish breakout above the upper limit of the previous bearish channel. This took place when the bears showed obvious weakness.

On the short-term prospective, the pair remains bullish as long as the newly established bottom at 1.5315-1.5300 remains defended by the bulls.

A bearish Head and Shoulders pattern is probably being established at 1.5500. The neckline is located at 1.5315-1.5300. Breakdown of this neckline will confirm the pattern clearing the way towards the projection target which is located at 1.5115 which corresponds to a previous bottom as well.

On the other hand, bullish momentum needs a 4H closure above 1.5500-1.5530 before enough bullish pressure can be gathered to push towards 1.5580-1.5600.

A failure of the bears to fixate below 1.5300 will bring the pair back within the current congestion zone between 1.5310 and 1.5530 giving more time for sideway movements.

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



For detail explanation and best discovery on market trends you may visit via EUR/AUD intraday technical levels and trading recommendations for March 17, 2014 . Thanks for your support on EUR/AUD intraday technical levels and trading recommendations for March 17, 2014

Gold analysis for March 17, 2014 Trend News

Overview:
Since our last analysis, the gold has been trading upwards, as we expected, the price tested the level of 1,391.99 on volume above the average (almost tested our Fibonacci levels). According to the daily chart, we can observe demand above the average, which is a sign that there is still demand on the market and selling looks risky. We may see testing the levels of 1,396.00-1,401.00 before downward correction. Anyway, if the gold starts bearish correction from 1,392.00, I have placed Fibonacci levels to find first down stations and I got Fibonacci Retracement 382% at the price of 1,367.50 and Fibonacci Retracement 61.8% at the price of 1,353.00. To confirm further bearish correction and downward movement, we need to see larger supply on high volume on the market.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,391.12

R2: 1,393.34

R3: 1,396.93

Support levels:

S1: 1,383.94

S2: 1,381.72

S3: 1,378.13

Trading recommendation: Trading the metal, be careful with buying at this stage since Gold is near the high new ground.

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



For detail explanation and best discovery on market trends you may visit via Gold analysis for March 17, 2014 . Thanks for your support on Gold analysis for March 17, 2014

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

Overview:

USD/JPY is expected to consolidate with bearish bias after hitting a five-week low 101.15 this morning. It is undermined by the selling of yen amid increased risk aversion (VIX fear gauge rose 9.86% to 17.82, S&P fell 0.28% Friday) amid ongoing jitters about Ukraine-Crimeans voted on Sunday to break away from Ukraine and join Russia by a margin of 93% to 7%, according to exit polls reported by Russian news outlets, in a referendum condemned as illegal by the U.S. and EU - and uncertainty about the outlook for China after recent weak economic data and official warning about future defaults on Chinese bonds. China on Saturday doubled the band in which the CNY is allowed to move each day to 2% above and below a fixing rate it sets each morning, the first change to the trading band since April 2012. USD/JPY is also weighed by the lower U.S. Treasury yields, Japan exporter sales and weaker dollar sentiment (ICE spot dollar index last 79.42 versus 79.59 early Friday) on unexpected fall in U.S. University of Michigan preliminary consumer sentiment index to 79.9 in March from 81.6 end-February (versus forecast for rise to 81.8) and surprise 0.1% on-month drop in U.S. February PPI (defying forecast for +0.2% increase). But USD/JPY losses are tempered by the demand from Japan importers abd loose Bank of Japan monetary policy. ital data, 1315 GMT U.S. February industrial production and capacity utilization, 1400 GMT U.S. March NAHB housing market index.

Technical сomment:
Daily chart is negative-biased as MACD and stochastics are bearish, the five-day moving average is falling below the 15-day MA.

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 101.15. A breach of this target will move the pair further downwards to 100.65. The pivot point stands at 102.05. 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 102.40 and the second target at 102.80.

Resistance levels:

102.40

102.80

103.15

Support levels:

101.10

100.65

100.35

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for March 17, 2014 . Thanks for your support on Technical analysis of USD/JPY for March 17, 2014

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

Overview:

USD/CHF is expected to trade with bullish bias. It is undermined by the weaker dollar sentiment and flows to haven franc amid increased investor risk aversion. But franc sentiment is dented by the 0.8% on-year drop in Switzerland February import price index and 0.4% on-year drop in February PPI. USD/CHF losses are also tempered by the franc sales on soft CHF/JPY cross. Daily chart is negative-biased as MACD is bearish, stochastics stays suppressed at oversold zone, five and 15-day moving averages are declining.

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 0.8765 and the second target at 0.8785. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8695. A breach of this target will push the pair further downwards and one may expect the second target at 0.8680. The pivot point is at 0.8730.

Resistance levels:

0.8765

0.8785

0.8805

Support levels:

0.8695

0.8680

0.8660

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CHF for March 17, 2014 . Thanks for your support on Technical analysis of USD/CHF for March 17, 2014

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

Overview:

NZD/USD is expected to trade in a higher range. It is undermined by the Kiwi sales on soft NZD/JPY cross amid increased investor risk aversion, concerns over economic slowdown in China and soft commodity prices. But NZD/USD losses are tempered by the hawkish Reserve Bank of New Zealand's monetary policy stance, weaker dollar sentiment and rise in Westpac McDermott Miller Consumer Confidence index to 121.7 in March – its highest since March 2005 from 120.1 in the December survey. Daily chart is still positive-biased as MACD is bullish, stochastics stays elevated at overbought zone, five and 15 day moving averages 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 0.8605 and the second target at 0.8650. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8490. A breach of this target will push the pair further downwards and one may expect the second target at 0.8430. The pivot point is at 0.8515.

Resistance levels:

0.8605

0.8650

0.870

Support levels:
08490

0.8430

0.84

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of NZD/USD for March 17, 2014 . Thanks for your support on Technical analysis of NZD/USD for March 17, 2014

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

Overview:

GBP/JPY is expected to trade with bullish bias. It is undermined by the increased investor risk aversion and Japan exporter sales. But GBP/JPY losses are tempered by the demand from Japan importers and loose BOJ's monetary policy. Daily chart is negative-biased as stochastics is falling from overbought, MACD histogram bars is turning negative.

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 170 and the second target at 170.50. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 167.70. A breach of this target will push the pair further downwards and one may expect the second target at 167.10. The pivot point is at 168.30.

Resistance levels:

170

170.50

171.10

Support levels:

167.70

167.10

166.20

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of GBP/JPY for March 17, 2014 . Thanks for your support on Technical analysis of GBP/JPY for March 17, 2014

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

General overview for 17/03/2014 11:30 CET

The market is still in a range zone, but there is a possibility to count the recent wave progression as impulsive, as long as the key level is not broken. This scenario has been indicated on the chart as red impulsive alternate count that might be the first stage of bearish impulsive wave (iii) development. Nonetheless, any breakout higher above the key level means the wave (ii) green is still in progress, although in its last cycle.

Support/Resistance:

1.2250 - WR1

1.1096 - Weekly Pivot

1.1072 - Key Level | Red Impulsive Count Invalidation Line|

1.1042 - Intraday Support

1.1040 - WS1

1.1029 - 61%Fibo

Trading recommendations:

Sell limit orders should be opened from the level of 1.1072 with SL above the level of 1.1115 and TP at the level 1.1042 and 1.1005 with a possible downside extension.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CAD for March 17, 2014 . Thanks for your support on Technical analysis of USD/CAD for March 17, 2014

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

General overview for 17/03/2014 11:11 CET

The bullish impulsive count has almost been invalidated due to the very deep retrace in wave (iv) green in shape of irregular flat (a)(b)(c) pattern. Currently, the market is trying to bounce higher and test the key level of recent support breakout at the level of 142.20. In case of failure here, the market should fall farther down and break the golden trendline to invalidate the impulsive count.

On higher time frames, the count is getting more complex now with the alternate labeling provided on H4 time frame. There is still a possibility that the price is in wave 4 purple triangle and traders can see more of the whipsaw price action that is typical for triangle formation.

Support/Resistance:

143.78 - Swing High

143.68 - Technical Resistance

142.53 - WR1

142.20 - 142.30 - Key Level

141.68 - Intraday Resistance

141.48 - Weekly Pivot

140.38 - Invalidation Line

139.36 - WS1

Trading recommendations:

Buy stop orders should be opened from the level of 141.71 with SL below the level of 140.85 and TP at the level 142.20.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/JPY for March 17, 2014 . Thanks for your support on Technical analysis of EUR/JPY for March 17, 2014

#USDX Technical analysis for March 17, 2014 Trend News

The Dollar index remains in downtrend. The previous high at 79.70 has not even been challenged. Bulls to reverse trend will need to break at least above 80. Short-term support at 79.25 has given bulls a small upward bounce but it seems that it is weak. Bulls will need to show more strength and break above the Ichimoku cloud resistance at 79.90-80.05.

The Dollar index remains inside the downward sloping wedge and we remain bearish as long as price does not break above 80. We can see an upward bounce towards 79.80 where resistance is found. Short-term support is now found at 79.15.

The daily chart has nothing new to add to our analysis. Trend is down. Our view remains bearish with 79 as a short-term target and 74-75 as an intermediate-term target. Lower lows and lower highs confirm bearish trend. Bulls need to break on a daily level above the red downward sloping trend line resistance. This resistance is now at 80.

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



For detail explanation and best discovery on market trends you may visit via #USDX Technical analysis for March 17, 2014 . Thanks for your support on #USDX Technical analysis for March 17, 2014

Gold technical analysis for March 17, 2014 Trend News

The tensions in Ukraine regarding the vote that took place yesterday in Crimea has pushed Gold price upwards towards $1,390 which was our target mentioned in the previous analysis. However, fears of the Russian troops invasion have been eased and Gold price is pulling back after reaching $1,391. Gold price remains in an uptrend and is supported.

Short-term support is found at $1,375 where the red upward sloping trend line is now. Next short-term support is $1,368 which is the 38% Fibonacci retracement of the rise from $1,328. Short-term resistance is found at $1,388-$1,391. If support at $1,375 fails, we should expect Gold price to move towards $1,368 or even $1,360. The $1,350 level is very important support, and we expect it to hold Gold price in case of a strong pullback.

The longer-term trend remains up. Pullbacks are being met by heavy buying and are considered corrective. Our double bottom target is $1,500-$1,600. Daily trend remains bullish although we could see a pull back towards $1,350-40 to re-test the broken trend line that was once resistance.

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



For detail explanation and best discovery on market trends you may visit via Gold technical analysis for March 17, 2014 . Thanks for your support on Gold technical analysis for March 17, 2014