Analysis of gold for March 25, 2014 Trend News

Gold broke below $1,320, implications are bearish in the near term. The rising channel is breaking its best to consider the up move is over for now. Wave 5 is over, we are in a larger a-b-c correction. Where c=a targets the 61.8% retracement zone near $1,270-$1,265. So till a further confirmation of a bottom in gold, we should be headed lower towards $1,305, $1,295, $1,285-$1,280 and in the last case $1,270-$1,265 levels in the short and near term.

In Asia, gold is trading at the level of $1,308.80. Gold is taking support at the level of $1,307.0. The level of $1,307.0 has its importance in the daily and weekly charts. It is the day low from February 20, and the weekly low point. We expect if gold brakes this support, it will clear the situaton. The immediate support comes at $1,301.0 (50SMA). In the H4 chart, RSI is in oversold condition, we expect a pull back a bit from the current and $1,301 levels, before further down move.

Intraday- CMP $1,308.80

Buy with sl at $1,307.0, target at $1,316.0, $1,322.0, and $1,325.0

Sell below $1,307.0 with targets at $1,301.0, $1,295.0, $1,285.0, and $1,280.0 (Below $1,299.70 only, next target will come) .

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Technical analysis of EUR/USD for March 25, 2014 Trend News

When the European market opens, some economic news will be released such as German Ifo Business Climate.The US will release the economic data too such as the US-S&P/CS Composite-20 HPI y/y, US-HPI m/m, US-CB Consumer Confidence, US-New Home Sales, US-Richmond Manufacturing Index, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3904.

Strong Resistance:1.3895.

Original Resistance: 1.3882.

Inner Sell Area: 1.3869.

Target Inner Area: 1.3836.

Inner Buy Area: 1.3803.

Original Support: 1.3790.

Strong Support: 1.3777.

Breakout SELL Level: 1.3768.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3790 and 1.3882. The rate is accompanied by strong support at 1.3777 and by 1.3895 as strong resistance.

If EUR/USD breaks out and closes below the 1.3768 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3904 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 1.3803 and at 1.3869, a SELL position. In this case both targets should be placed at the level of 1.3836.

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 25, 2014 Trend News

In Asia, Japan will not release any economic data, but the US will release some economic data such as US-S&P/CS Composite-20 HPI y/y, US-HPI m/m, US-CB Consumer Confidence, US-New Home Sales, US-Richmond Manufacturing Index. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.74.

Resistance. 2: 102.54.

Resistance. 1: 102.34.

Support. 1: 102.09.

Support. 2: 101.89.

Support. 3: 101.69.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.69) and resistance 3 (102.74). 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.

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Technical analysis of USD/CAD for March 25, 2014 Trend News

USDCAD broke above the prior 1.1224 high and reached as high as 1.1279, indicating that the uptrend from 1.0182 has resumed. Further rise could be expected, and the next target would be in the 1.1500 area. Key support is at the upward trend line in the daily chart, only a clear break below the trend line support could signal the completion of the uptrend.

On an intraday basis, the pair has support at 1.1180 and 1.1149. Whereas 1.1149 is the major support; if it breaks, we will see the 1.1083 level.

S1 1.1180 R1 1.1205

S2 1.1149 R2 1.1246

S3 1.1083 R3 1.1279

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Technical analysis of AUD/USD for March 25, 2014 Trend News

The pair is trading near the crucial descending trendline. AUS/USD is trading in an uncomfortable zone. Between 0.9152 and 0.9166, there is a resistance zone, above that, 0.9246 is the target. On the weekly chart, the pair gave a breakout. But in the daily chart, the breakout action is still pending, may be today it will happen if everything favors this pair. RSI on the weekly and daily charts favors my breakout view. This is the second time it is looking for its fate on the descending trend line. On the upside, if the price gives a breakout, it will fly up to the 0.9235 levels. On the down side, the pair has support at 0.9041, 0.9011, and 0.89481 on a positional basis.

Intraday

In the H4 chart, the pair is facing multiple resistance trend line. Since the start of this month, the pair has been tested to cross the trend line, but it was pushed to lower levels whenever it reaches the trend line. On the down side, the pair has support at 0.9089, 0.9075, 0.9069, and 0.9010 on an intraday basis.

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Daily analysis of USDX for March 25, 2014 Trend News

Daily chart: The USDX has found strong resistance at the 80.11 level, and now the USDX is trying to make a corrective movement towards the bullish trend. If the USDX does make a breakout at the support level of 79.50, it's expected to fall to the level of 79.19. On the other hand, if the USDX does make a breakout at the level of 80.11, it's expected to rise to 200 SMA. The MACD indicator is in positive territory.

H4 chart: The USDX remains below the 200 SMA, but it is very likely that USDX will do more falls below this level, and find resistance at the level of 80.15. However, if the USDX does make a breakout at that level, it would be expected to rise to the resistance level of 80.44. The MACD indicator is in negative territory.

H1 chart: The USDX has made a bullish rebound above the 200 SMA and the support level of 79.88. If the USDX manages to consolidate above the 80.15 level, it is expected to rise to the level of 80.35, which would strengthen the bullish bias on the USDX. On the other hand, if the USDX manages to make a consolidation below the 79.88 level, it would be expected to fall to the level of 79.64. The MACD indicator is entering oversold zone.

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 25, 2014 Trend News

Daily chart: This pair has made a bullish rebound on the trend line near to the 1.6450 level. It is very likely that the GBP/USD rises to the resistance level of 1.6540. If the pair manages to make a breakout at that level, it would be expected to rise to the resistance level of 1.6663. On the other hand, if the pair manages to make a breakout at the 1.6447 level, it's expected to fall to the level of 1.6326. The MACD indicator is in negative territory.

H4 chart: The GBP/USD stays below the resistance level of 1.6516 and 200 SMA. For now, this pair continues forming a higher low pattern. If this pair does consolidate below the 1.6435 level, it's expected to fall to the support level of 1.6336. For now, if the GBP/USD manages to make a breakout at the 1.6516 level, it's expected to rise to the level of 1.6583. The MACD indicator is in positive territory.

H1 chart: This pair remains above the point of control at the level of 1.6480. However, this pair was strongly very close to the 1.6544 resistance level, so that the pair is maintained in a bearish outlook. If GBP/USD manages to make a breakout in the support level of 1.6464, it's expected to fall to the level of 1.6419. 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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Weekly Elliott Wave Analysis of USD/CAD Trend News

USD/CAD Elliott Wave
After a strong start last week, the USD/CAD pair has retraced most of gains during Friday's London and New York sessions, when developing the [ii] start. In the 4-hour chart above, we can see that we are currently retracing the cycle from the 1.1020 level, and we should see the end of the [ii] wave (coloured black) around the 1.1150-1.1120 area, 50-61.8% of the wave [i] length. While price remains above the 1.1020 level, we are going to keep focusing on the buying opportunity in the [iii] wave, that should be over by the end of this week. 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 1.1527 (161.8% of wave [i]).



Support and Resistance

(S3) 1.1105, (S2) 1.1143, (S1) 1.1168, (PP) 1.1206, (R1) 1.1231, (R2) 1.1269, (R3) 1.1294.



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 1.1150 with stop loss at 1.1020 and take profit at 1.1527 are recommended.

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EUR/NZD analysis for March 24, 2014 Trend News

Overview:
Since our previous analysis, the EUR/NZD pair has been trading upwards. As we expected, the price tested and rejected from the level of 1.6229 on average volume. Our previous analysis is still valid. 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. Our Fibonacci expansion level FE 100% at the price of 1.6225 held successfully and that is the reason why we saw rejection. If the price breaks the level of 1.6230 on higher volume, we may see possible testing of the level at 1.6135 (FE 161.8%). To confrim another 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: 1.6171

R2: 1.6191

R3: 1.6222

Support levels:

S1: 1.6108

S2 : 1.6088

S3: 1.6056

Trading recommendation: Be careful with selling the EUR/NZD pair since we have the selling climax and weak supply, according, to the daily chart.

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GOLD analysis for March 24, 2014 Trend News

Overview:

Since our last analysis, Gold has been trading downwards, the price tested the level of 1,314.35 on volume above the average. According to the daily chart, we can observe weak demand on volume below the average, which caused price to continue with bearish movement as we expected. Gold is in progress of bearish corrective phase and I've placed Fibonacci Retracement to find the first down station. I got major Fibonacci Retracement 38.2% at the price of 1,312.00 (almost tested). Be careful with buying and watch for selling opportunities after retracements.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,335.02

R2: 1,336.28

R3: 1,338.30

Support levels:

S1: 1,330.98

S2: 1,329.72

S3: 1,327.70

Trading recommendation: Trading the metal, be careful with buying at this stage since Gold is in progress of bearish corrective phase. Watch for selling opportunities after retracement.

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

Technical outlook and chart setups:

1. The EUR/JPY pair seems to be unable to hold higher levels. The counter support trend line has been probed for the 3rd time, around the 140.50 mark. It is recommended to exit long positions now. A break here would encourage bears to further push towards 139.00 and lower levels.

2. Immediate resistance is at sub 144.00 (interim), followed by 145.50, while supports are spread through 138.80/136.50 (interim), followed by 134.00 and lower respectively.

3. The weekly structure reveals that 144.00 maybe a lower top in place and the next leg may be lower towards 136.00, 134.00 and further.

Trading recommendations:

Remain flat for now. Wait for a reaction at current trend line support.

Good luck!

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

Technical outlook and chart setups:

1. The GBP/CHF pair is testing support turned resistance line again for now around 1.4630/50 levels. Till the time prices are below 1.4700, bears should remain in control. It is hence recommended to remain short, risk remains just above 1.4700.

2. Immediate resistance is at 1.4850 (interim), followed by 1.4950/60 and 1.5120/30, while supports are spread through 1.4450, followed by 1.4350 and lower respectively.

3. The structure reveals that till the time prices are below 1.4850/60 levels, look for lower lows and lower highs. 1.4350 support needs to be taken out to confirm a long term reversal though.

Trading recommendations:

Remain short for now, set stop at 1.47, target is at 1.4350.

Good luck!

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Technical analysis of Silver for March 24, 2014. Trend News

Technical outlook and chart setups:

1. Silver is trading too close to our expected/discussed levels of $20.00. Probability remains high for a bottom formation here, also please note that the past resistance turned support region is also coinciding for now. A bullish reversal here, should be bought. Recommendations are to hold earlier long positions and add further around $20.00 levels.

2. Immediate resistance interim is at $21.70/80, followed by $22.20/30, while supports are at $20.00, followed by $19.00 and lower respectively.

3. The entire structure reveals that Silver remains buy on dips for now. Watch out for a bottom formation between $20.00 and $19.50 here.

Trading recommendations:

Remain long and add further around $20.00, set stop at $19.20/25, target is open.

Good luck!

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Technical analysis of Gold for March 24, 2014. Trend News

Technical outlook and chart setups:

1. An 8H chart view says that Gold is still probing the immediate line of support around $1,320.00/25.00 mark at the moment. A bullish reaction here would confirm that bulls remain in control and rally continues towards at least $1,370.00/80.00. It is recommended to remain flat for now and look to sell higher.

2. The immediate resistance zone is at $1.370.00/80.00 mark, followed by $1,388.00 while supports are now at $1,310.00, followed by $1,230/40 and lower respectively.

3. The structure reveals that a trend line break now, would confirm further bearishness towards $1,310.00 i the near term. Whatever the case, $1,250.00/60.00 remains optimum buy.

Trading recommendations:

Flat for now.

Good luck!

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Weekly technical levels of GBP/USD for March 24-28, 2014 Trend News

Weekly technical levels of the GBP/USD pair.

Trading recommendations :

• As it is known, sellers are asking for a high price as well as buyers are bidding at a lower price. Therefore, the first key level will set at the level of 1.6610 and the second key level will set at the 1.6420 level for March 24-28, 2014. Moreover, it should be noted that the level of 1.6610 is representing the resistance and the 1.6420 level is going to act as the support in H1 chart. Equally important, the price of the GBP/USD pair has still been moving between 1.6460 and 1.6542. Additionally, it should be noted that the range was about 190 pips last week. Furthermore, the trend was very clear and indicating downtrend. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.6610 or 1.6542 (the weekly pivot point). As a result, sell at the price of 1.6542 with the first target of 1.6475, it might resume to 1.6420 in order to test the weekly support 1. On the other hand, your stop loss should be placed above the 1.6610 level, hence it will helpful to set it at the price of 1.6680 this week.

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Weekly technical levels of EUR/USD for March 24-28, 2014 Trend News

Weekly technical levels :

Tips :

• R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.


• Pivot lines work well on the sideways markets as the prices are most likely to be between the R1 and S1 lines.


• Within a strong trend, the price is expected to be lower than the pivot point line and continue moving.


• If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.

Notes:

• The support will set at the level of 1.3711, but the double bottom is going to set at 1.3748 on March 24, 2014.


• The EUR/USD pair called for the bearish market from the price of 1.3910 last week.


• So, the price of 1.3910 is representing strong resistance.


• Stop loss should never exceed your maximum exposure amounts.


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

Observations :

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


• Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.


• Fibonacci is in a range trade; it looks like the trend is trapped and going up or down. If you sell or buy in the long term in this period, you will surely lose your profit.

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#USDX Technical analysis for March 24, 2014 Trend News

The Dollar index is in a short-term up trend and as can be seen in the chart below a bullish flag is being formed. The sharp rise from mid 79.00 to 80.40 has now been paused and price is moving sideways creating a bullish flag. The trend has reversed to up, and we expect another move higher for the Dollar index.

The Dollar index remains above the Ichimoku cloud and the broken red trend line. If prices pull back towards the 38% or 50% retracement this index is a buy with 79.20 stop. Our view is bullish and I believe trend has changed to up, and there is increased probability to see this index towards 81 soon.

The daily chart also confirms our view of the bullish flag. Strong resistance is found at 80.50 and 80.80. Breaking above these resistance levels will push the index higher to challenge 81.40-50 highs. We prefer long positions above 79.20.

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Gold wave analysis for March 24, 2014 Trend News

Gold price has reversed from $1,340 and moved towards its lows near $1,320. Gold has short-term support at $1,318-19. If this support holds, we could see an upward move towards $1,340 again and, why not, towards $1,350 near the 38% Fibonacci retracement. The decline in Gold price could also be counted as a 5 wave down move as shown in the chart below, and we currently are in wave B, or wave B has finished and we are about to start wave C up.

However, if a new lower low is made, then the entire wave count from the $1,391 highs changes and the decline will not be impulsive. If a new low is made, then we can say that this downward move is part of a larger correction process that could push price towards $1,280-60. The impulsive wave down scenario is preferred as there is high probability the breakout of the long-term downward sloping trend line as shown in the chart below is just a false breakout.

If this is a false breakout, the downward impuslive move implies a strong reversal from the $1,390 area and that is why prices are falling in an impulsive pattern. As always the form and pattern of the price movement is very important in order to determine if the decline is part of a larger correction that will eventually resume upwards and push Gold price towards $1,500 or if the rise from $1,180 has ended at $1,391, and we are now to resume a big move down to new lows. Concluding, we prefer long positions with $1,318 stop and $1,340 target for today.

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

General overview for 24/03/2014 09:30 CET

There are two possible counts present on this pair, and the key level to the upside is a small intraday supply zone between the levels of 1.1255 - 1.1262. Breakout higher would mean that the main count is invalidated and the alternate count is in play. The target for the wave (v) then would be at the level of 1.1306 (min). On the other hand, if the supply zone holds, the market should reverse impulsively to the downside. That would mean the correction is a simple zigzag, but only a breakout lower below the wave 1 red bottom would confirm this scenario and more lower prices might be expected.

Support/Resistance:

1,1306 - Min. Target for wave (v)

1.1277 - Swing High

1.1255 - 1.1262 - Supply Zone

1.1187 - Weekly Pivot

1.1141 - 1.1152 - Technical Support

Trading recommendations:

Sell limit orders should be opened from the level of 1.1255 with SL above the level of 1.1263 and TP at the level of 1.1187.

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Elliott wave analysis of EUR/NZD for March 24, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.6340

R2: 1.6306

R1: 1.6250

Current spot: 1.6182

S1: 1.6152

S2: 1.6123

S3: 1.6086

Technical summary:

As expected wave b of wave iv of the ending diagonal terminated close to 1.6086 and wave c higher is developing. This c-wave could terminate close to the former top at 1.6232 and if this is the case we should expecte the development of an x-wave towards 1.6152 before the next move higher towards 1.6450. However, a clear break above 1.6232 indicates that wave c will extend, but no matter if wave c extends or a more complex pattern is unfolding a contunation higher towards 1.6450 should be seen before the final wave v lower is expected.

Trading recommendation:

Stay long in EUR from 1.6107 and move your stop higher to 1.6145. Keep you take profit at 1.6425. If you are not long in EUR yet, then buy EUR close to 1.6150 with the same stop at 1.6145 and take profit at 1.6425.

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

General overview for 24/03/2014 09:00 CET

The abcde green triangle idea is still possible and the key level for that count would be intraday resistance at the level of 141.98. Any breakout higher above this level means that grey rectangle area between the level of 142.21- 142.30 will be tested. Please notice the red descending trendline from last swing high might provide additional dynamic resistance as well.

Support/Resistance:

143.39 - WR3

142.68 - WR2

142.30 - 142.21 - Technical Resistance

141.98 - Intraday Resistance

141.85 - WR1

141.27 - Intraday Support

141.15 - Weekly Pivot

140.40 - WS1

Trading recommendations:

Sell limit orders should be opened from the level of 141.98 with SL above the level of 142.31 and TP at the level of 140.30.

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Elliott wave analysis of EUR/JPY for March 24, 2014 Trend News

Today's Support and Resistance levels:

R3: 142.50

R2: 142.11

R1: 141.72

Current spot: 141.38

S1: 141.26

S2: 140.90

S3: 140.43

Technical summary:

As we predicted on Friday, a low was seen at 140.43 and a correction higher towards 142.11 - 142.50. This expected corrective cycle is unfolding according to our prediction and we expected this corrective target area to be tested soon. Once this correction terminates a renewed downside pressure towards at least 136.45 should be expected. A break below 141.26 will indicate that the corrective cycle has ended and wave iii lower is developing.

Trading recommendation:

Sell EUR at 142.40 or upon a break below 141.26 and place your stop at 143.85.

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



For detail explanation and best discovery on market trends you may visit via Elliott wave analysis of EUR/JPY for March 24, 2014 . Thanks for your support on Elliott wave analysis of EUR/JPY for March 24, 2014

Daily analysis of Silver for March 24, 2014 Trend News

Overview

In today's H4 chart, we see that the metal is trading between the Support level of 20.00 and below the Resistance level of 20.50 after its failure to break the Resistance level last Firday. It bounced from it to take a slightly downward move. Currently, it is testing the Support level of 20.00. Presently, we suggest waiting for closing above the Resistance level of 20.50 in case of bouncing from the Support level to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 20.90. After breaking this Resistance level, silver would open the way towards the Resistance level of 21.25 that, which means more bullish signals.

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

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

Overview

In the today's H4 chart, we can notice that the pair opened this week below the Resistance level of 169.20 that would give the pair a good opportunity to start its bearish move. Actually, as shown, the pair took a slightly downward move and currently is trading above the support level of 168.50 and below the resistance level of 169.20 directly. More bearish signals are still expected as long as the pair is trading below the resistance level, so we can consider our first target few pips above the support level of 167.75, then it is preferred to wait for breaking this support level and closing 4H below to continue the bearish move.

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 24, 2014 . Thanks for your support on Daily analysis of GBP/JPY for March 24, 2014