Technical analysis of USD/CAD for March 21, 2014 Trend News

General overview for 21/03/2014 07:10 CET

There is not much of an impulsive wave development to the downside yet, so the alternate count of a triangle can not be ruled out. Only a sustained breakout below the intraday support at the level of 1.1230 would open the road to the next important support at the level of 1.1150. Nevertheless, for now market is consolidating the recent gains and is trading in a tight range.

Support/Resistance:

1.1277 - Swing High

1.1230 - Intraday Support

1.1206 - WR2

1.1150 Technical Support

Trading recommendations:

Sell stop orders should be opened from the level of 1.1229 with SL above the level of 1.1277 and TP at the level of 1.1150 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 21, 2014 . Thanks for your support on Technical analysis of USD/CAD for March 21, 2014

Technical analysis of EUR/JPY for March 21, 2014 Trend News

General overview for 21/03/2014 07:00 CET

As I mentioned yesterday, the possibility of a triangle wave b red was very high and a downside breakout was anticipated. The key level to the upside is the level of 141.27 and any breakout higher above this level means that weekly pivot and even the intraday resistance level might be tested. On the other hand, if intraday support at the level of 140.81 is broken, then the next support comes at the level of 140.50. Please keep an eye on this level because it is very close to the invalidation line at the level of 140.33. In case invalidation line is violated, more of a downside wave progression is expected.

Support/Resistance:

141.96 - Intraday Resistance

141.48 - Weekly Pivot

141.27 - Key Level

140.81 - Intraday Support

140.33 - Invalidation Line

Trading recommendations:

Sell stop orders should be opened from the level of 140.79 with SL above the level of 141.27 and TP at the level of 140.33 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 EUR/JPY for March 21, 2014 . Thanks for your support on Technical analysis of EUR/JPY for March 21, 2014

Technical analysis of EUR/USD for March 21, 2014 Trend News

When the European market opens, some economic news will be released such as Current Account, Consumer Confidence. Today the US will not release any economic data, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3847.

Strong Resistance:1.3838.

Original Resistance: 1.3825.

Inner Sell Area: 1.3812.

Target Inner Area: 1.3779.

Inner Buy Area: 1.3746.

Original Support: 1.3733.

Strong Support: 1.3720.

Breakout SELL Level: 1.3711.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3733 and 1.3825. The rate is accompanied by strong support at 1.3720 and by 1.3838 as strong resistance.

If EUR/USD breaks out and closes below the 1.3711 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3847 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 1.3746 and at 1.3812, a SELL position. In this case both targets should be placed at the level of 1.3779.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

For 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 21, 2014 . Thanks for your support on Technical analysis of EUR/USD for March 21, 2014

Technical analysis of USD/JPY for March 21, 2014 Trend News

In Asia, Japan will not release any economic data's because of the Bank Holiday and the US will not release any statistics too. So there is a big probability the USD/JPY will move with low or medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.86.

Resistance. 2: 102.66.

Resistance. 1: 102.46.

Support. 1: 102.21.

Support. 2: 102.00.

Support. 3: 101.80.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.80) and resistance 3 (102.86). 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 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 21, 2014 . Thanks for your support on Technical analysis of USD/JPY for March 21, 2014

Daily analysis of USDX for March 21, 2014 Trend News

Daily chart: The USDX is consolidating above the support level of 80.11. Now, it is very likely that the USDX attempts to climb to the resistance level of 80.62. On the other hand, it's expected to start forming a lower high pattern above this level. The USDX remains below the 200 SMA and MACD is in positive territory.

H4 chart: The USDX is forming a bullish pattern above the level of 80.15, so that the next target for the USDX would be the resistance level of 80.44. On the other hand, if the USDX does make a breakout at the support level of 80.09, it's expected to fall to the level of 79.93. The MACD indicator is entering extremely overbought zone, but still in positive territory.

H1 chart: The USDX has found resistance at the 80.35 level, but it is very likely that the USDX will try again to make a breakout at that level. If successful, it is expected to rise to the resistance level of 80.59. On the other hand, if the USDX does make a breakout at the support level of 80.15, it's expected to fall to the level of 79.88. 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 80.35, take profit is at 80.59, and stop loss is at 80.10.

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 USDX for March 21, 2014 . Thanks for your support on Daily analysis of USDX for March 21, 2014

Daily analysis of GBP/USD for March 21, 2014 Trend News

Daily chart: GBP/USD made a breakout at the support level of 1.6540, so it is very likely that during today's session, the pair will begin to form a bearish pattern since the GBP/USD had a recent lateralized drop days ago. The objective of this pair in our bearish outlook is bullish trend line near the 1.6447 level. The MACD indicator is in negative territory.

H4 chart: The GBP/USD is forming a bearish pattern below the resistance level of 1.6516. If the pair manages to make a breakout at that level, it would be expected to rise to the level of 1.6583. On the other hand, if the pair manages to make a breakout at the support level of 1.6483, it's expected to fall to the level of 1.6435. The MACD indicator is oversold.

H1 chart: This pair has moved into a low range in the last hours after the GBP/USD has found resistance at the 1.6544 level. If the pair manages to make a breakout at the support level of 1.6464, it's expected to fall to the level of 1.6419. On the other hand, it is very likely that this pair continues to move slowly through the day. 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 1.6464, take profit is at 1.6419, and stop loss is at 1.6510.

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 21, 2014 . Thanks for your support on Daily analysis of GBP/USD for March 21, 2014

Technical analysis of EUR/USD for March 21, 2014 Trend News

EUR/USD has given up after struggling for many days and divergences. It made an attempt to go above the falling trendline from the 2008 high and failed forming a 5-month long ending diagonal which might mean a major trend reversal for the euro that has been rising since July 2012. 1.381 is the near-term support, which was broken at yesterday's trading session, so we would expect it to go to the lower trendline of the wedge at 1.36 within intermediate supports at 1.37 and 1.3643. In our previous report we recommended to go short with sl at 1.396.

Intraday-

In the H4 chart, the pair is taking support at 1.3774, below it, 1.3749 is the immediate support. RSI is indicating positive signs in the both H1 and H4 charts. We expect a pullback towards 1.3797, 1.3824, 1.3850, and 1.38825.

On the downside, if the pair breaks 1.37749, it looks weak and immediate support exists at 1.3749. In case a move below 1.3749, next support is at 1.3721, 1.37.

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 21, 2014 . Thanks for your support on Technical analysis of EUR/USD for March 21, 2014

Technical analysis of Silver for March 21, 2014 Trend News

Unlike gold, silver failed to go above the 40-week average. It lacks the same impulsive behavior so it might be doing something different. $20.42 is the 20wma support, below which I would consider that its still forming a triangle and could go down to the lower line at $19.22$.

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 Silver for March 21, 2014 . Thanks for your support on Technical analysis of Silver for March 21, 2014

Technical analysis of USDX for March 21, 2014 Trend News

The dollar index finally broke out of the wedge it's been forming for days. It went on extending to the point you would expect the dollar to collapse, but for the euro's critical level of 1.396 that I also showed could be a key trend reversal level. Finally, we have a breakout that could mean the start of the dollar rally for months ahead unless something changes. The dollar index, I first marked as a leading diagonal in 2012, but for 2 years it's been in a trading range raising doubts about the overall trend. For the 4th time, it has taken a support on the rising neckline support near 79 keeping hope that the bullish marking is correct and a move down to 75 is ruled out till this neckline does not break. We intiated buy call at 79.27 with targets at 80.12, 80.4, and 80.75.

Intraday-

In the hourly chart, RSI favors sell side and weakness persists only below 80.05. On the downside, support exists at 79.81, 79.7, and 79.5.

Positional -

The price is facing strong resistance at 80.40, until trades are above this level, hold short positions for targets at 79.93. On the upside, if the price trades above the level of 80.40, we will see 80.6 and 80.75 immediately.

Recommendation-

Sell with sl 80.40 (closing basis) and targets at 80.05, 79.93, 79.7, and 79.5, cmp 80.19.

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 21, 2014 . Thanks for your support on Technical analysis of USDX for March 21, 2014

Analysis of gold for March 21, 2014 Trend News

As we said yesterday, gold was probably moving within a pullback from $1,320.0 towards $1,331.0, and $1,337.0. That was true, and gold moved exactly within our levels and made a high at $1,334.30. In the hourly chart, the RSI is showing a completed positive divergence. We expect further up move in coming 1-2 days.

On an intraday basis, the price is facing resistance between $1,330.0 and $1,332.0. Buyers will come only above the $1,332.0 levels. We will see the next up move towards $1,335.0, $1,338.0, $1,341.50, $1,345.0, and $1,350.0 with intermediate resistance at $1,338.0. On the downside, the support exist at $1,323.0 and $1,320.0 (yesterday's low). A break below yesterday's low raises a bearish view and the next support exists at $1,317.0 (40EMA) in daily chart.

S1 $1,319.60 R1 $1,332.00

S2 $1,317. 00 R2 $1,338.00

S3 $1,307. 00 R3 $1,341.50

Positional basis, the price broke and closed below the 200 EMA level at $1,331.0, which is a strong bearish view until the price closes above that level. Yesterday's low is very crucial in the coming trading days. This week, if the price holds and closes above the level of $1,320.0, we could expect some pullback. In case of any break and close below $1,320.0, another bear hug will take the price towards $1,315, $1,310.0, $1,307.0, and $1,297.0. We expect the correction will stop at the $1,310.0 level, and some consolidation will take place before any further up move .

S1 $1,320.0 R1 $1,331.0

S2 $1,317.0 R2 $1,338.0

S3 $1,307.0 R3 $1,345.0

The best strategy is to buy with sl at $1,320.0.

Sell below $1,319.60 with targets at $1,317.0, $1,315.0, and $1,310.0.

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



For detail explanation and best discovery on market trends you may visit via Analysis of gold for March 21, 2014 . Thanks for your support on Analysis of gold for March 21, 2014

Technical analysis of EUR/USD for March 21, 2014 Trend News

Forecast :

• According to the previous events, the price of the EUR/USD pair has still been moving between 1.3836 and 1.3768.


• The level of 1.3836 is representing the double top, and the weekly resistance 1 is set at the same level.


• Consequently, sell above the price of 1.3836 in the short term with the first target at 1.3777, it might resume to 1.3710 if the trend will be able to break the support at 1.3768.

Notes :

• The double top will set at the level of 1.3836.


• The major support is going to set at 1.3703.


• The minor support has set at the price of 1.3768.


• The price had hit the weekly pivot point and the support 1 this week.


• We expect a range of 80 pips today.

Intraday technical levels :

• Projected high: 1.4017


• Breakout (buy stop): 1.3962


• Strong resistance (sell limit): 1.3932


• Current pivot: 1.3800


• Strong support (buy limit): 1.3668


• Breakout (sell stop): 1.3643


• Projected low: 1.3593

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 21, 2014 . Thanks for your support on Technical analysis of EUR/USD for March 21, 2014

Technical analysis of AUD/USD for March 21, 2014 Trend News

The daily pivot point: 0.9027.

Trading recommendations :

• The resistance has set at the price of 0.9140 and the support, at the 0.9010 price. So, according to the previous events, the AUD/USD pair is going to move between the resistance and the support. As a rule, history will probably repeat itself at this level again. Therefore, we expect a range about 73 pips on March 21, 2014. Accordingly, if the trend fails to close below the level of 0.9010, then it will be a good opportunity to buy above 0.9010 with the first target at 0.9075, then it will be continued straight towards 0.9125. Notwithstanding, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. Consequently, the best location to set your stop loss should be placed below the level of 0.9003.

Notes :

• The Risk of 73 pips must make a profit of 110 pips.


• The value of 50% Fibonacci retracement levels is: 0.9022.


• The Volatility: 79.52. As a rule, the market is highly volatile if the previous day had a huge volatility.


• The Support will set at the level of 0.9010.


• The resistance will set at the level of 0.9140.

Intraday technical levels :

• R3: 0.8891


• R2: 0.8847


• R1: 0.8785


• PP: 0.8741


• S1: 0.8679


• S2: 0.8635


• S3: 0.8573

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 AUD/USD for March 21, 2014 . Thanks for your support on Technical analysis of AUD/USD for March 21, 2014

USD/CAD intraday technical levels and trading recommendations for March 20, 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 established a consolidation zone between 1.0960 and 1.1190.

Yesterday, the USD/CAD pair expressed obvious bullish momentum that led to bullish breakout above 1.1190-1.1220.

Daily fixation above 1.1200-1.1230 (Weekly 50% Fibonacci level) opens the way for a higher target around 1.1660 (61.8% Fibonacci).

Bullish pattern (ascending bottoms) is depicted on the chart. As expected, this indicated a strong bullish movement above 1.1190 which already took place Yesterday.

On the other hand, the USD/CAD pair isn't showing enough bullish momentum above 1.1200. This may indicate lack of enough bullish momentum in the market.

Note that if bearish rejection is applied around 1.1200, this will keep the pair trapped within the current congestion zone below 1.1190 again giving more time for sideway consolidations.

Price level around 1.1150 is considered a prominent Support for the pair.

Any further retesting will probably offer a valid buy entry with SL located just below 1.1100.

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 20, 2014 . Thanks for your support on USD/CAD intraday technical levels and trading recommendations for March 20, 2014

Intraday technical levels and trading recommendations for GBP/USD for March 20, 2014 Trend News

As depicted on the chart, the nearest demand level around 50% Fibonacci at 1.6540 was broken down.

The Double-Top pattern scenario is being executed with the neckline located around 1.6600-1.6580.

Daily fixation below this neckline will enable the pair to reach 1.6350 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 taking place this week.

Persistence of the current breakdown will push the pair down to 1.6460 where a prominent bottom was established on January 27 then towards 1.6350 as a projection target for the breakout.

The pair has been moving within a bearish channel which is depicted on the chart. The upper limit around 1.6670 was defended by the bears Yesterday as expected.

As long as the bears are still defending price zone of 1.6700-1.6730, price level of 1.6580 remained under bearish pressure until breakdown took place Yesterday.

Stop loss for the bearish scenario should be located lowered to 1.6660.

Price Levels around 1.6350 should be watched carefully for price action as a possible BUY entry may be taken at retesting.

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 20, 2014 . Thanks for your support on Intraday technical levels and trading recommendations for GBP/USD for March 20, 2014

Intraday technical levels and trading recommendations for GBP/USD for March 20, 2014 Trend News

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

Price level of 1.3900 corresponding to 100% Fibonacci Expansion has been successfully hit a few days ago.

After topping at 1.3965, the EUR/USD pair showed indecision that continued for a few days. This was manifested in the previous few daily candlesticks.

Re-fixation below 1.3900 brought the pair directly towards 1.3840 which got broken too. The pair is currently heading towards price zone of 1.3700-1.3650 as long as the current resistance level of 1.3820 remains defended by the bears.

The market may offer a valid BUY entry at retesting of the uptrend line that corresponds also to a prominent demand zone 1.3700-1.3650. SL should be located below 1.3600.

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 20, 2014 . Thanks for your support on Intraday technical levels and trading recommendations for GBP/USD for March 20, 2014

Technical analysis of USD/JPY for March 20, 2014 Trend News

Overview:

USD/JPY is expected to trade in a higher range. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 80.01 versus 79.37 early Wednesday) after the Federal Reserve tapered its bond-buying program by another $10 billion to $55 billion a month, as expected, but pointed to earlier interest rate rises as it forecast rates of 1% by end of 2015, up from 0.75% in December. USD/JPY is also supported by the higher U.S. Treasury yields, demand from the Japanese importers and loose Bank of Japan monetary policy. But USD/JPY gains are tempered by Japan's exports sales, selling of yen crosses amid decreased investor risk appetite (VIX fear gauge rose 4.13% to 15.12, S&P fell 0.61% overnight).

Technical сomment:
Daily chart is mixed as MACD is bearish, but stochastics is turned bullish at oversold 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 102.85 and the second target at 103.15. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 101.20. A breach of this target will push the pair further downwards and one may expect the second target at 100.64. The pivot point is at 101.75.

Resistance levels:

102.85

103.15

103.45

Support levels:

101.20

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 20, 2014 . Thanks for your support on Technical analysis of USD/JPY for March 20, 2014

Technical analysis of USD/CHF for March 20, 2014 Trend News

Overview:

USD/CHF is expected to trade in higher range. USD/CHF is underpinned by the positive dollar sentiment, franc sales on buoyant EUR/CHF cross and drop in Switzerland ZEW-Credit Suisse indicator of economic sentiment to 19.0 in March from 28.7 in February. Daily chart is positive-biased as MACD and stochastics are turned to bullish.

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 0.8890 and the second target at 0.8915. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8770. A breach of this target will push the pair further downwards and one may expect the second target at 0.8755. The pivot point is at 0.8795.

Resistance levels:

0.8890

0.8915

0.8945

Support levels:

0.8770

0.8755

0.8715

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 20, 2014 . Thanks for your support on Technical analysis of USD/CHF for March 20, 2014

Technical analysis of GBP/JPY for March 20, 2014 Trend News

Overview:

GBP/JPY is expected to trade with risks skewed lower. It is undermined by the negative risk sentiment and Japan's exports sales. But GBP/JPY losses are tempered by the buoyant USD/JPY undertone, demand from the the Japanese importers and loose BOJ's monetary policy. Daily chart is mixed as MACD histogram bars are turned negative, but stochastics is neutral, inside-day-range pattern was completed on Wednesday.

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 168.60.

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 20, 2014 . Thanks for your support on Technical analysis of GBP/JPY for March 20, 2014

Technical analysis of NZD/USD for March 20, 2014 Trend News

Overview:
The NZD/USD pair is expected to trade in lower range. It is undermined by the positive dollar sentiment and Kiwi sales on the NZD/JPY cross amid weaker investor risk appetite. But NZD/USD losses are tempered by the Kiwi demand on soft AUD/NZD cross and hawkish Reserve Bank of New Zealand's monetary policy stance and slightly stronger-than-expected New Zealand 4Q GDP on-year growth of +3.1% (versus +3.0% forecast). Daily chart is mixed as the MACD is bullish, but stochastics is turning bearish at overbought zone.

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 0.8480. A breach of this target will move the pair further downwards to 0.8430. The pivot point stands at 0.8595. 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 0.8640 and the second target at 0.8675.

Resistance levels:

0.8640

0.8675

0.87

Support levels:
0.8480

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 20, 2014 . Thanks for your support on Technical analysis of NZD/USD for March 20, 2014

Daily analysis of Silver for March 20, 2014 Trend News

Overview
As it was expected last week, more bearish signals would be available after breaking the Support level of 20.20, then the metal continued its downward move after breaking the Support level, which gave us another good opportunity to sell till reaching the Support level of 20.00. Currently, as shown, the metal is hitting the Support level of 20.00 and starting to take a bullish move. Presently, we suggest waiting for closing above this level to give us a new opportunity for new buy signals with the first target few pips below the Resistance level of 20.50, then after breaking this Resistance level, Silver would open the way towards the Resistance level of 20.90, which means more bullish signals.

Resistance and support levels: R3 (21.25), R2 (20.90), R1 (20.50), S1 (20.20), S2 (20.00), S3(19.75)

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 20, 2014 . Thanks for your support on Daily analysis of Silver for March 20, 2014

Daily analysis of GBP/JPY for March 20, 2014 Trend News

Overview

Today, 4H chart show that yesterday's closing below the resistance level of 169.75 gives the price an opportunity for a bearish move. As shown here, currently, the price is reversing its bullish trend of yesterday trying to continue its bearish move by breaking the support level of 168.50 and closing below it. In that case, we may get another opportunity for more sell signals, and it opens the way towards 167.75, as the first target, and then the price should test the support level of 167.00 to continue its bearish move. But as long as the price stabilizes above the support level of 168.50, it cancels the first scenario.

Resistance and support levels: R3 (170.50), R2 (169.75), R1(169.20), S1 (168.50), S2 (167.75), S3 (167.00).

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 20, 2014 . Thanks for your support on Daily analysis of GBP/JPY for March 20, 2014

Elliott Wave Analysis of USD/CAD for March 20, 2014 Trend News

USD/CAD Elliott Wave
Since our last analysis, the USD/CAD pair has been trading upwards, just like we expected, we have slightly adjusted our primary view, but the trend stayed unchanged. In the 1-hour chart of the pair, we can see that we are looking at the corrective (X) wave (coloured red) as the Triangle pattern from January 31. At the moment, we are in the [iii] wave (coloured black) of the bigger wave A (coloured blue), and while the price remains above the 1.1120 level, we are going to focus only on the buying opportunity in the (Z) wave. In accordance with our wave rules and taking into account that wave (Z) should extend 100% of wave (Y), we can define the potential targets with measuring wave (Y) with take profit at 1.1527 (100% of wave (Y)).



Support and Resistance

(S3) 1.0939, (S2) 1.0982, (S1) 1.1059, (PP) 1.1102, (R1) 1.1179, (R2) 1.1222, (R3) 1.1299.



Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin upward movements. That is why long positions at the level of 1.1140 with stop loss at 1.1060 and take profit at 1.1348 are recommended.

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



For detail explanation and best discovery on market trends you may visit via Elliott Wave Analysis of USD/CAD for March 20, 2014 . Thanks for your support on Elliott Wave Analysis of USD/CAD for March 20, 2014

Elliott Wave Analysis of AUD/USD for March 20, 2014 Trend News

AUD/USD Elliott Wave
The AUD/USD pair has been trading downwards for last few sessions, since our short-term low gave up, we need to re-adjust our count a little bit. In the 1-hour chart of the AUD/USD pair, we are seeing a corrective pattern from the 0.1027 level, this is taking the shape of the FLAT correction and for the next supports, we are going to look at the 0.9010-0.8990 area. In the next few sessions, while price remains above the 0.8900 area, we should again look for a buying opportunity in the (iii) of [iii] wave. In accordance with our wave rules and taking into account that wave [iii] should extend 161.8% of wave [i], we can define the potential targets with measuring wave [i] with take profit at 0.9286 (161.8% of wave [i]). The RSI indicator on the 1-hour chart points to the bullish divergence, this also supports our long idea.



Support and Resistance

(S3) 0.9008, (S2) 0.9036, (S1) 0.9080, (PP) 0.9108, (R1) 0.9152, (R2) 0.9180, (R3) 0.9224.



Trading forecast
Proceeding from Elliot Wave rules today, the trend is expected to begin the upwards movements. That is why long positions at the level of 0.9030 with stop loss at 0.8900 and take profit at 0.9286 are recommended.

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



For detail explanation and best discovery on market trends you may visit via Elliott Wave Analysis of AUD/USD for March 20, 2014 . Thanks for your support on Elliott Wave Analysis of AUD/USD for March 20, 2014

Technical analysis of EUR/JPY for March 20, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY seems to be testing the recent low formed at sub 140.00 levels. It is recommended to remain long for now, risk remains at 140.00. A break of 140.50 should prove to be further bearish.

2. Immediate resistance is at 144.00 levels, followed by 145.50, while supports are spread through 139.00/136.50 (intermediary), followed by 134.00, 131.00 and lower respectively.

3. The structure reveals that so long as 140.50 holds, the bulls shall remain in control and push prices towards 145.50 and higher up.

Trading recommendations:

Remain long for now, set stop at 140.00, 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 EUR/JPY for March 20, 2014 . Thanks for your support on Technical analysis of EUR/JPY for March 20, 2014

Technical analysis of GBP/CHF for March 20, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has rallied back to test the support turned resistance line as expected. A turn lower is expected from 1.4650/70 levels now. It is recommended to initiate short positions and also look to add further at current level. Risk remains above 1.4700 at least.

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

3. The structure reveals that GBP/CHF should be headed south towards 1.4350 levels before a meaningful pullback occurs. Selling rallies should be preferred trade strategy.

Trading recommendations:

Remain short for now, stop is at 1.4710, target is 1.4350.

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 GBP/CHF for March 20, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 20, 2014

Technical analysis of Silver for March 20, 2014. Trend News

Technical outlook and chart setups:

1. Silver is heading lower as per expectations. It is recommended to initiate long positions at $20.00 levels, which is also fibonacci 0.618 support for the entire rally from $18.75 to $22.30. Also the past resistance turned support criteria has been met at $20.50.

2. Immediate resistance is the $23.00 level, while supports are now at $20.00, followed by $19.00, $18.75 and lower respectively.

3. The structure reveals that Silver is heading towards bottom formation at $20.00 levels. It is recommended to initiate long positions towards at least $25.00 levels from there on.

Trading recommendations:

Flat for now. Look to buy around $20.00.

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 Silver for March 20, 2014. . Thanks for your support on Technical analysis of Silver for March 20, 2014.

Technical analysis of Gold for March 20, 2014. Trend News

Technical outlook and chart setups:

1. Gold is continuing its slide down for now and first support is now seen at $1,300.00 levels, which is the fibonacci 0.382 support as seen here. It is still recommended to remain flat and look to sell on a pullback towards $1,370.00 atleast.

2. Immediate resistance is at $1,388.00/95.00, followed by $1,410.00, while supports are spread through $1,320.00/$1,300.00, followed by $1,285.00, $1,245/50 and lower respectively.

3. The structure reveals that the metal is carving out a right shoulder for a potential inverse head and shoulder reversal. Minimum level of interest is $1,250.00/40.00.

Trading recommendations:

Flat for now.

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 20, 2014. . Thanks for your support on Technical analysis of Gold for March 20, 2014.

EUR/NZD analysis for March 20, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.6227 on average volume. Our previous analysis is still active. According to the daily chart we can observe weak supply on high volume, which is a sign that we may see further bullish movements. The EUR/NZD is in short- and mid-term bullish trend, so watch for buying opportunities on the dips and try to catch the bullish phase. I have placed Fibonacci levels to find upper stations and i got Fibonacci Retracement 38.2% at the price of 1.6234 and Fibonacci Retracement 61.8% at the price of 1.6325. To confrim potential bullish phase, we need to see strong demand on high volume on the market. Anyway, if the price breaks the level of 1.6085 on high volume, we may see testing of the level 1.6020 (Fibonacci expansion 100%) before any larger upward movement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6192

R2: 1.6214

R3: 1.6251

Support levels:

S1: 1.6119

S2 : 1.6097

S3: 1.6061

Trading recommendation: Be careful with selling the EUR/NZD pair since we got selling climax and weak supply according, to the daily 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 EUR/NZD analysis for March 20, 2014 . Thanks for your support on EUR/NZD analysis for March 20, 2014

Technical analysis of EUR/JPY for March 20, 2014 Trend News

General overview for 20/03/2014 12:00 CET

On H4 time frame we can still see the golden ascending price channel that keeps the price action in the range. The breakout is needed here to confirm the farther market move. For the bears, the most important level is the invalidation line at the level of 140.21 because violation of this level will invalidate the bullish wave progression. For the bulls the most important level is the technical resistance at the level of 142.21 because violation of this level will make the recent highs available for test or breakout.

Support/Resistance:

143.78 - Swing High

142.52 - WR1

142.21 - Technical Resistance

141.47 - Weekly Pivot

140.21 - Invalidation Line

139.37 - WS1

Trading recommendations:

Wait for a clear breakout of one of the levels mentioned above.

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 20, 2014 . Thanks for your support on Technical analysis of EUR/JPY for March 20, 2014

Technical analysis of USD/CAD for March 20, 2014 Trend News

General overview for 20/03/2014 11:00 CET

Due to wave overlaps the main count is indicating the top for wave 5 navy at the level of 1.1220 has been invalidated and new count has been made. This new count indicates more bullish wave progression from wave (B) purple low, but still shows the possibility of a current trend maturity as the five wave progression to the upside is almost done on both major and intermediate cycle degree. On daily chart we can see that five black waves to the upside are almost done and the same situation is on H4 time frame chart, where green impulsive wave development need only wave (v) green to the upside to finish the cycle. On H1 intraday time frame the main support for the price comes as the dynamic channel support at the level of 1.1206, just slightly below the intraday support at the level of 1.1230. Only a breakout below this support would expose the level of technical support at the level of 1.1150 to be tested. Otherwise more upside is anticipated.

Support/Resistance:

1.1270 - Swing High | 4 year's high |

1.1230 - Intraday Support

1.1206 - WR2

1.1150 - WR1 | Invalidation Line |

1.1096 - Weekly Pivot

Trading recommendations:

For swing traders - all bulls should consider a partial close of the long positions on the current market prices due to a possible major upside cycle completion.

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 20, 2014 . Thanks for your support on Technical analysis of USD/CAD for March 20, 2014

Technical analysis of NZD/USD for March 20, 2014 Trend News

The psychological level: 0.8525.

Notes :

• It should be noted that the key level is set at the level of 0.8525.


• Moreover, the 0.8525 level is coinciding with the weekly pivot point on March 20, 2014.


• We expect a range about 130 pips from today until tomorrow.


• Equally important, the resistance had already formed at the 0.8613 level.


• As it is known, history will probably repeat itself at this level again.

Trading recommendations :

• According to the previous events, the NZD/USD pair has still been moving between 0.8515 and 0.8580. Therefore, it will a good sign to sell below 0.8503 with the first target of 0.8530. If the trend breaks the weekly pivot point, then it will call for downtrend in order to continue its bearish movement towards 0.8260. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed above the resistance at the price of 0.8650.

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 20, 2014 . Thanks for your support on Technical analysis of NZD/USD for March 20, 2014

Technical analysis of USD/CHF for March 20, 2014 Trend News

Overview :

• The resistance has broken at the level of 0.8766. Moreover, the level of 0.8766 is going to become support on March 20, 2014. So, according to previous events, the price of the USD/CHF pair has still been moving between the price of 0.8773 and the 0.8803 price. Additionally, the psychological level has set at the 0.8870 price because it is representing a strong resistance. Also, the double top will set at the 0.8894 price. Therefore, it will of the wisdom to buy above the price of 0.8766 with target at 0.8870 this week. Equally important, the price of the USD/CHF pair is going to try break the weekly pivot point to call for the bullish market above 0.8766. Hence, the price will be continued towards the double top. On the other hand, the stop loss should always be in account, so it will be of the wisdom to set your stop loss at the 0.8744 price.

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 20, 2014 . Thanks for your support on Technical analysis of USD/CHF for March 20, 2014

#USDX technical analysis for March 20, 2014 Trend News

Yeswterday, I mentioned in my analysis that there are signs of an expected trend reversal in the dollar index. 79 was important support and I suggested that bulls that believe the low was in should open long positions with the 79.20 stop and target at 80. The dollar index was mainly influenced by Janet Yellen's comments on the monetary policy the FED is expected to follow and dollar strengthened.

More cautious bulls who did not enter long at 79.30 yesterday were given a buy signal once the short-term resistance at 79.50 was broken. The short-term wedge seems to have broken to the upside. The Ichimoku cloud is now broken and all we need is a confirmation above the red trend line resistance for at least one day. The sequence of lower lows and lower highs has been canceled. Trend has reversed.

The daily chart confirms the low at 79.30 is important. Trend in the daily chart has reversed upwards as well. Bulls will need to defend this and I expect this upward move to continue towards 80.50 at least. However, we should always keep in mind that a bigger trend reversal could be starting. Stop for bulls is the recent low at 79.30.

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 20, 2014 . Thanks for your support on #USDX technical analysis for March 20, 2014

Gold technical analysis for March 20, 2014 Trend News

Gold price has fallen towards our support area of $1,330 after breaking the levels we mentioned as critical for the downtrend. Gold price has broken below the Ichimoku cloud in the 4-hour chart and moved towards the target we gave once the support failed. Short-term trend remains down as we noted when $1,375 was broken. Gold has entered a larger degree corrective move down.

Gold has now reached the longer-term upward sloping red trend line support and the base of the start of the previous bullish move. This area is very strong support and I think Gold bulls will defend it strongly. I believe that there are now increased chances of an upward bounce towards $1,350-60 at least.

The long-term daily chart also suggests that Gold has reached important support levels. If these levels are broken we should expect price to move towards the Ichimoku cloud near $1,300-$1,280. I'm now expecting an upward bounce from these levels. I prefer short covering now and taking profits from short positions.

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 20, 2014 . Thanks for your support on Gold technical analysis for March 20, 2014

Elliott wave analysis of EUR/NZD for March 20, 2014 Trend News

Today's Suppor and Resistance levels:

R3: 1.6376

R2: 1.6269

R1: 1.6230

Current spot: 1.6225

S1: 1.6184

S2: 1.6137

S3: 1.6109

Technical summary:

Wave iii of the ending diagonal ended at 1.6086 and wave iv is currently unfolding towards 1.6450 from where the final wave v lower is expected. The internal waves of an ending diagonal is normally pretty complex, but they are always in three waves meaning they are corrective in their structure. Once this ending diagonal comes to an end, expect a new impulsive rally, but for now a rally to resistance near 1.6450 is all we can expect.

Trading recommendation:

Stay neutral for now.

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



For detail explanation and best discovery on market trends you may visit via Elliott wave analysis of EUR/NZD for March 20, 2014 . Thanks for your support on Elliott wave analysis of EUR/NZD for March 20, 2014