Technical analysis of Crude for March 24, 2014 Trend News

Crude oil has been trying to come out a pattern. It is improving its support levels from the last couple of trading days. In the Asia's trading session, the pair is trading at the $99.34 level. On the downside, the price has support at 98.24 and 97.37. After a break below the level of 97, it will drift up to 96, 95, 94, and 91.5. Major crack below the level of 91.5 towards the 86-87 levels, where we expect a bottom will be formed and move to a new high for 2014 year. On the upside, if the price comes out of the pattern, it will fly up to 100.80, 101.5, 103.5, 105.2, and finally 109.95. The RSI is in a sell mode in the daily chart, indicates further weakness in the coming days.

Intraday-

In the H4 chart, the price is taking support at the 98.95 level (50SMA). After a break below 98.95, it will fall to 98.25 and 97.75 levels immediately. On the up side, crude is facing resistance at the level of $100. If it trades above the 100 mark, it will fly up to 100.25, 100.50, and 100.80 immediately. A major up move will take place if it trades above the level of $100.80 towards 101.5.

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Daily analysis of major pairs for March 24, 2014 Trend News

EUR/USD: This is a bear market. The price fell last week, touching the support line at 1.3750; and from that point, the price bounced upwards by 50 pips, testing the resistance line at 1.3800. It is assumed that the bearish trend would continue, which could take the price below the aforementioned support line.

USD/CHF: This currency trading instrument went bullish last week, testing the resistance level at 0.8850, before getting corrected a little bit lower. The correction would be short-term in nature and it is not expected to go below the support level at 0.8800. The stance for this week is thus bullish.

GBP/USD: The price action on the Cable has resulted in a Bearish Confirmation Pattern and the market is expected to go further south this week. At the present, the market is trading below the distribution territory at 1.6500. While that distribution territory may be challenged seriously by the bulls, the price could end up far below it by the end of this week.

USD/JPY: The USD/JPY went bullish last week, closing at 102.25. For the bullish outlook not to become invalid this week, the price must stay above the demand level at 102.00. As long as the price stays above that demand level, long trades are sensible. But when the price crosses and closes below the demand level at 102.00, it would then be sensible to seek short trades.

EUR/JPY: This bias here is bearish. The price closed at 141.07 on Friday (March 21, 2014). The southward move is not yet significant, but it may become strong this week.

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Technical analysis of USD/SGD for March 24, 2014 Trend News

USD/SGD has given after a long consolidation at the level of 1.26. In the daily chart, the pair is trading above all the short- and medium-term moving averages. The Singapore dollar is back in action starting wave 3 up. Wave 3 has a target of 1.308 with sl 1.2560 for my view. RSI is showing a positive divergence in the daily chart. In the intraday basis, 1.27 will come as the first support level, below that, 1.2672 and 1.2577 are the major supports. The pair has minor supports between 1.2667 and 1.2656. On Thursday, the pair made a low at 1.27 which was the multiple resistance level on March 03 and 04. The resistance becomes support, which is the bull view.

Intraday

In the H4 chart, the pair is taking support at 1.2711 levels from the last couple of hours, if it breaks, 1.27 will come as intraday strong support level. The pair has been trading in a range between 1.2711 and 1.2725, either break will give major room for trading. The level of 1.27 has its importance on daily and hourly charts (21EMA). Below the level of 1.27, it will fall to 1.2680-1.2674, and 1.2666-1.2655. RSI gives a sell signal. On the upside, if the pair trades above the level of 1.2725, it will fly to 1.2759 and 1.2769 immediately.

S1 1.27 R1 1.2725

S2 1.2681 R2 1.2759

S3 1.2654 R3 1.2769

Sell below 1.27, it will fall to 1.2680-1.2674 and 1.2666-1.2655.

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Technical analysis of EUR/USD for March 24, 2014 Trend News

When the European market opens, some economic news will be released such as French Flash Manufacturing PMI, French Flash Services PMI, German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI, Belgian NBB Business Climate. The US will release the economic data too such as the US-Flash Manufacturing PMI, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3863.

Strong Resistance:1.3854.

Original Resistance: 1.3841.

Inner Sell Area: 1.3828.

Target Inner Area: 1.3795.

Inner Buy Area: 1.3762.

Original Support: 1.3749.

Strong Support: 1.3736.

Breakout SELL Level: 1.3727.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3749 and 1.3841. The rate is accompanied by strong support at 1.3736 and by 1.3854 as strong resistance.

If EUR/USD breaks out and closes below the 1.3727 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3863 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 1.3762 and at 1.3828, a SELL position. In this case both targets should be placed at the level of 1.3795.

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.

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Technical analysis of USD/JPY for March 24, 2014 Trend News

In Asia, Japan will not release any data today and the US will release only one economic data - US-Flash Manufacturing PMI. So there is a big probability the USD/JPY will move with low vowolatility during this day.

Resistance. 3: 102.93.

Resistance. 2: 102.75.

Resistance. 1: 102.55.

Support. 1: 102.29.

Support. 2: 102.08.

Support. 3: 101.88.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.88) and resistance 3 (102.93). 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



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Technical analysis of GBP/USD for March 24, 2014 Trend News

GBP/USD has broken all the support levels and is trading below medium term moving averages. It has been in a downtrend from 1.6786 moving to 1-month low. Currently, the pair is trading near the crucial trend line. RSI is cooled off from the sell mode in daily charts. In Asia's trading session, the pair is trading at the level 1.6488. In the Hourly charts (H1&H4) RSI is giving a buy signal. The pair is in a consolidation mode, we will see a huge spike in coming 1 or 2 trading days (pull back). We recommend to buy this pair at this current price or in a dip for 1 or 2 days perspective towards 1.6529, 1.656, and 1.659.

On the down side, if the pair break the lower trend line, it will drift up to 1.6426, 1.6383, and 1.6252. The crucial support levels exist at the level of 1.6252 and 1.6561.

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Technical analysis of USD/CHF for March 24, 2014 Trend News

USD/CHF has been forming an ending diagonal for months. So will it finally break out of the pattern? It will make one more attempt to do so as short-term momentum is back in buy mode after multiple divergences in the RSI. Above 0.887, it will go to the upper line at 0.8985. A close above 0.8985 would break the falling wedge upwards for more medium term gains.

Intraday- long only above 0.8830

In the H4 chart, RSI is giving a sell signal. The pair formed a resistance level at 0.8869 on Thursday. Today, the pair is facing resistance at 50SMA in H1 chart and 23.6 fib level in H4 chart. Intraday pullback will be possible if the pair trades above the 0.8830 level, we will see 0.8869 and 0.8895 immediately. The support exists at 0.8806 (38.2 fib), 0.8791, and 0.8766 (61.8fib). The pair will be in a rough way, if it breaks the 0.8766 and it will drift towards 0.8704 and 0.8699.

S1 0.8819 R1 0.8830

S2 0.8790 R2 0.8869

S3 0.8766 R3 0.8895

Positional- Thumbs up if close above 0.8945 level.

In the weekly chart, the RSI and stochastic indicators are giving a buy signal. So we can confirm that buying program is the best strategy for this pair in the medium term towards upside target 0.8945, above that 0.9048 and 0.9156-0.9164. We will update further targets when the pair trades/close above the 0.8945 level (21EMA, weekly chart). On the downside, 0.8714-0.8699 is the support.

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Daily analysis of USDX for March 24, 2014 Trend News

Daily chart: The USDX has managed to form a fractal above the support level of 80.11. However, it is very likely that the USDX keeps moving in a low range, as part of a correction in the current trend. The next target for the USDX is the resistance level of 80.62. On the other hand, if the USDX does make a breakout at the support level of 80.11, it's expected to fall to the level of 79.19. The MACD indicator is in positive territory.

H4 chart: The USDX remains above the 200 SMA and the support level of 80.09. If the USDX does make a breakout at the level of 80.15, it's expected to rise to the 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 that would be a bearish consolidation. The MACD indicator is in the overbought zone.

H1 chart: The USDX has fallen below the resistance level of 80.15, but the USDX remains very close to that level. If the USDX manages to consolidate above this level, it would be expected to rise to the resistance level of 80.35. Otherwise, the USDX could fall to the support level of 79.88. The MACD indicator is entering neutral territory and oversold.

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.

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Daily analysis of GBP/USD for March 24, 2014 Trend News

Daily chart: The GBP/USD is trying to find support on the bullish trend line near to the 1.6480 level. If the pair manages to make a breakout on the trend line, it is expected to fall to the support level of 1.6447. On the other hand, if this pair makes a bullish rebound on the trend line, it's expected to rise to the resistance level of 1.6540 that could extend the bullish trend on this pair for several days. The MACD indicator is in negative territory.

H4 chart: This pair is forming a higher low pattern below the resistance level of 1.6516. The GBP/USD wants to consolidate below the 1.6483 level, so it is very likely that this pair will fall to the support level of 1.6435. However, we recommend caution when placing sell orders in this pair. The MACD indicator is entering oversold.

H1 chart: The GBP/USD is moving in the range between the 1.6507 and 1.6464 levels, at which one point of control is. 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, Moreover, if this pair does consolidate above the 1.6507 level, it would be expected to rise to the level of 1.6544. 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 1.6464, take profit is at 1.6419, and stop loss is at 1.6510.

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