Daily analysis of major pairs for March 27, 2014 Trend News

EUR/USD: The EUR/USD remains in thea bear market. The price rallied into the EMA 56, after which it has started coming down a little. Now trading below the resistance line at 1.3800, the price has the possibility of reaching the support line at 1.3750. It should also be noted that the market has been volatile so far this week.

USD/CHF: Come what may, there is still a possibility that this pair could reach the resistance level at 0.8900. This can happen irrespective of the volatility in the market, for it should be borne in mind that this is a bull market. In addition, some fundamental figures may also impact the market today, but those figures are not that many.

GBP/USD: This currency trading instrument has shown a clean rejection of further bearish move. From a weekly low of 1.6464, the price has rallied by close to 120 pips. A close above the distribution territory at 1.6600 would mean that the southward outlook has already been jeopardized.

USD/JPY: There is already a Bearish Confirmation Pattern in this market, as a result of the fact that this pair was unable to maintain its recent bullish signal. Since the price has broken the supply level at 102.00 to the downside, the market has gone bearish and short trades would be sensible.

EUR/JPY: As it was expected, the EUR/JPY broke out below the supply zone at 141.00. A new bearish signal has set in, thus one would do well to go short, targeting the demand zone at 140.00. There is a possibility that the price may go below that demand zone as the selling pressure becomes more significant.

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Fundamental analysis of GBP/USD for March 27, 2014 Trend News

Retail clothing sales rose again in the year to March, even though at a slower pace than the month before - but growth next month is expected to rebound strongly, new figures suggest. Expected sales volumes for next month rose to their highest level since December 2010, a survey showed. In the next month Mother's day and Easter falls there. So many retailers see good number of sales growth in April.

Technical view-

GBP/USD has broken and closed above the resistance level. It's a good sign for this pair in the near term. In Asia's trading session, the pair is trading at the level of 1.6582. It is trading between 1.6586-1.65719. In the daily chart, momentum indicators are giving a buy signal. We recommend to buy this pair at 1.6487 for targets at 1.659, yesterday the pair met our targets. But those who want to enter at the current price, this is not the right time to enter. In the hourly chart, the RSI is not favoring to fresh longs at current market price.

Buy above the level of 1.6586 or wait for a correction is advisable. In the weekly chart, momentum indicators are not favoring longs. Sell on rallies is the best strategy for positional traders. After a move below the level of 1.6421, bears will take the pair towards 1.6383 and 1.6252.

Recommendations-

In the daily chart, the pair is trading between 21EMA 1.65859 and 50 SMA 1.65718. Start selling if the pair moves below 1.65718 (red line) for targets at 1.6510, 1.6465. Major crack will take place once the pair breaks below the 1.6465. On the upside if the pair trades above the level of 1.6585, it will fly up to 1.6654 and 1.6718 levels.

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Technical analysis of EUR/USD for March 27, 2014 Trend News

EUR/USD has been trading in a downtrend from the level of 1.3967. For the last six trading days, the pair has been testing the 40EMA support level at 1.37688. Currently it is trading at the level of 1.3782 in Asia's trading session. On the downside, if the pair breaks the level of 1.37687, it will fall to 1.3749, 1.3717, and 1.3643 immediately. The level of 1.3749 is the double bottom and 1.3717 (50SMA) is the strong levels for bulls. A move below the red line (50SMA) will provide more bear grip in further trading sessions. On the upside, if the pair trades above the level of 1.3808, it will fly up to 1.3847, 1.3876, and 1.3934. As we recommended earlier, fresh longs are only above the level of 1.396. To sell on rallies is the best strategy. In the daily and weekly charts, RSI favors sell side. The level of 1.3749 is the key level for further coming days.

Intraday

The pair has buying support at the levels between 1.378-1.3766-1.3749. We recommend for buyers to hold longs, until the pair holds above the level of 1.3749 for targets 1.3805, 1.382, and 1.3842. After a move below the level of 1.3749, you can enter shorts for targets 1.3708, 1.3643, and 1.3483.

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Forecast of AUD/USD for March 27, 2014 Trend News

Australia's dollar has hit a fresh 2014 high on growing speculation that China will turbo-charge its slowing economy. The Aussie has been the best performing currency this week. It is continuing its green ticks from last Friday. Traders are hopeful Beijing will accelerate stimulus measures to stabilize its economy. Last week, Chinese authorities approved five railway projects worth 142 billion yuan ($A25.03 billion).

FORECAST

AUD/USD is trading at 0.9221 in Asia's trading session. The pair crossed the crucial resistance zones and got restricted at 200EMA level. Though it crossed the resistance level at 200 EMA (our target of 0.9246), it was unable to close above that. In today's trading session, as of now the pair is trading below the 0.92357 level (200EMA). The next up move will take place when the pair crosses the 200Ema level, and we recommend to buy above 0.92357 for a target at 0.9262. 0.9262 is the 50SMA in the weekly chart. So 0.9262 will act as the next possible target and above that 0.9575 (200EMA) and 0.9757 (October 2013 high) are the ultimate targets. In the weekly chart, RSI is still favoring long side, so we hope some more steam left in this pair towards upside.

On the downside, if the pair is unable to cross the 0.9235 level, we see some correction towards 0.9146, 0.9075, and 0.8994. The major support levels exist at 0.9032 ,0.8963, and 0.8890.

MONTHLY BASIS

S1 0.9137 R1 0.9266

S2 0.9048 R2 0.9575

S3 0.8890 R3 0.9757

INTRADAY- RSI FAVOUR SELL SIDE (2 DAYS PERSPECTIVE)

S1 0.9218 R1 0.9235

S2 0.9163 R2 0.9244

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Technical analysis of EUR/USD for March 27, 2014 Trend News

When the European market opens, some economic news will be released such as M3 Money Supply y/y, Private Loans y/y. The US will release the economic data too such as the Unemployment Claims, Final GDP q/q, Final GDP Price Index q/q, Pending Home Sales m/m, Natural Gas Storage, so amid the reports, EUR/USD will move with medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3851.

Strong Resistance:1.3842.

Original Resistance: 1.3829.

Inner Sell Area: 1.3816.

Target Inner Area: 1.3783.

Inner Buy Area: 1.3750.

Original Support: 1.3737.

Strong Support: 1.3724.

Breakout SELL Level: 1.3715.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3737 and 1.3829. The rate is accompanied by strong support at 1.3724 and by 1.3842 as strong resistance.

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 27, 2014 Trend News

In Asia, Japan will not release any economic data and the US will release some economic data such as Unemployment Claims, Final GDP q/q, Final GDP Price Index q/q, Pending Home Sales m/m, Natural Gas Storage. So there is a big probability the USD/JPY will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.38.

Resistance. 2: 102.18.

Resistance. 1: 101.99.

Support. 1: 101.74.

Support. 2: 101.54.

Support. 3: 101.34.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.34) and resistance 3 (102.38). 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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Daily analysis of USDX for March 27, 2014 Trend News

Daily chart: The USDX continues forming a bullish pattern below resistance level of 80.11. However, it is very likely that the USDX will fall to the support level of 79.19 in the medium term because of the strength shown in the level of 80.11. However, if the USDX manages to consolidate above this level, it would be expected to rise to the level of 80.62. The MACD indicator is in positive territory.

H4 chart: The USDX keeps moving on a low range in the area where the 200-day moving average is located. Attention must be called before a breakout in the support level of 79.93 or the resistance level of 80.15, to make a trading decision in the USDX. The MACD indicator is still in negative territory.

H1 chart: The USDX found resistance near the 80.15 level. However, the USDX remains above the 200 SMA. Now, the USDX is trying to regain bullish bias. If the USDX does make a breakout on the resistance level of 80.15, it's expected to rise to the level of 80.35. 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 80.15, take profit is at 80.35, and stop loss is at 79.95.

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Daily analysis of GBP/USD for March 27, 2014 Trend News

Daily chart: This pair has made a breakout at the resistance level of 1.6540 and now, the GBP/USD is consolidating above that level with the formation of a bullish pattern. The next target for this pair is the resistance level of 1.6663. If the GBP/USD does a breakout at the support level of 1.6540, it would be expected to fall to a bullish trend line. The MACD indicator is oversold.

H4 chart: The GBP/USD is facing resistance at the 200-day moving average and the level of 1.6583. If the pair manages to make a breakout at the 1.6592 level, it's expected to rise to the resistance level of 1.6644. On the other hand, it's expected to fall to the support level of 1.6516 if the pair takes a bearish rebound to current levels. The MACD indicator is in positive territory.

H1 chart: In this chart, the GBP/USD has consolidated in bullish bias above the point of control. Now this pair is trying to form a lower high pattern above the 200 SMA. If successful, it is expected to rise to the level of 1.6629. On the other hand, if the GBP/USD manages to make a breakout in the support level of 1.6544, it's expected to fall to the level of 1.6507. The MACD indicator is in the overbought zone.

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 1.6544, take profit is at 1.6507, and stop loss is at 1.6580.

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Technical analysis of USD/CAD for March 27, 2014 Trend News

USD/CAD has been trading in a downtrend from the level of 1.1279. The pair has a breakout from a symmetric triangle. Now it is trading below the breakout level. In Asia's trading session the pair is trading at the level of 1.1102. The level of 1.1083 (50SMA) is the major support level and 1.10718 (40EMA) is the minor support level. If the pair breaks the 1.1083, more bear grip will take place in further trading sessions towards the downside purple line or even lower at 1.0955 (March 06 low).

In the H4 chart, the pair has been taking support in 1.1090-1.1081. On the down side, if the pair breaks below the 1.1090 level, it will fall to 1.1026 and 1.0955. On the upside 1.1164 is the major resistance level if it holds the level of 1.1081. In the weekly chart, RSI favors sell side. Sell on rise is the best strategy for positional holders.

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Technical analysis of USD/JPY for March 26, 2014 Trend News

Overview:
USD/JPY is expected to range-trade. It is underpinned by the yen-funded carry trades amid positive investor risk sentiment (VIX fear gauge eased 7.09% to 14.02; S&P rose 0.44% overnight) as speculation grew that China could adopt a fresh round of stimulus measures to bolster growth, comments from Fed's Plosser and a mixed bag of U.S. economic releases deflated concerns that the Federal Reserve could raise interest rates sooner than expected. Plosser said last week's Fed meeting did not reflect a fundamental shift in the central bank's policy, and that he was "a bit surprised" by the market reaction. U.S. Conference Board consumer confidence index rose stronger than expected to 82.3 in March from 78.3 in February (versus 78.6 forecast), but U.S. January S&P/Case-Shiller 20-city home price index post a smaller-than-expected 13.2% on-year increase (versus +13.5% forecast), Richmond Fed's manufacturing current business conditions index fell to -7 in March, its lowest since July 2013, from -6 in February; while U.S. February new home sales fell bigger-than-expected 3.3% to 440,000 (versus 445,000 forecast). USD/JPY is also supported by the demand from Japan importers and investment trusts and loose Bank of Japan monetary policy. But USD/JPY gains are tempered by the Japan exporter sales and weaker USD demand on diminished expectations for earlier rate rise.

Technical сomment:
Daily chart is mixed as MACD is in bullish mode; but stochastics is neutral, 15-day moving average is meandering sideways.

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 102.65 and the second target at 102.85. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 101.75. A breach of this target will push the pair further downwards and one may expect the second target at 101.45. The pivot point is at 102.

Resistance levels:

102.65

102.85

103.15

Support levels:

101.75

101.45

101

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Technical analysis of USD/CHF for March 26, 2014 Trend News

Overview:

USD/CHF is expected to consolidate after hitting two-week high of 0.8878 Tuesday. It is supported by the franc sales on buoyant EUR/CHF cross. But USD/CHF upside is limited by the franc demand on buoyant CHF/JPY cross and weaker USD demand. Daily chart is mixed as MACD is bullish, five-day moving average is above 15-day MA and is advancing but stochastics is neutral.

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 0.8870 and the second target at 0.8880. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8785. A breach of this target will push the pair further downwards and one may expect the second target at 0.8765. The pivot point is at 0.8810.

Resistance levels:

0.887

0.8890

0.8915

Support levels:

0.8785

0.8765

0.8755

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Technical analysis of NZD/USD for March 26, 2014 Trend News

Overview:
NZD/USD is expected to trade in higher range. It is supported by the Kiwi demand on the NZD/JPY cross amid reduced risk aversion, hawkish Reserve Bank of New Zealand's monetary policy stance, diminished concerns over China and weaker USD demand. The daily chart is mixed as MACD is staging bearish crossover against its exponential moving average, but five-day moving average is meandering sideways.

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 0.8640 and the second target at 0.8675. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8530. A breach of this target will push the pair further downwards and one may expect the second target at 0.85. The pivot point is at 0.8565.

Resistance levels:

0.864

0.8675

0.874

Support levels:
0.8530

0.85

0.848

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Technical analysis of GBP/JPY for March 26, 2014 Trend News

Overview:
GBP/JPY is expected to trade with risks skewed higher. It is supported by the positive investor risk sentiment, demand from Japan importers and loose Bank of Japan's monetary policy. But the EUR/JPY gains are tempered by the Japan exporter sales. The daily chart is mixed as MACD and stochastics are bearish, but five-day moving average is meandering sideways.

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 170.5. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 168.30. A breach of this target will push the pair further downwards and one may expect the second target at 168. The pivot point is at 168.80.

Resistance levels:

170

170.5

180

Support levels:

168.30

168

167.70

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Daily analysis of GBP/JPY for March 26, 2014 Trend News

Overview
As shown in the H4 chart, the pair has failed more than once to break the Support level of 168.50 and is still trading above it since yesterday. The pair bounced from the Support area again and started to take a slightly upward move approaching the Resistance level of 169.75. Currently, it is preferred to wait till closing above this Resistance level before making the decision. 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.

Resistance and support levels: R3 (171.50) R2 (170.50) R1 (169.75), S1 (169.20), S2 (168.50), S3 (167.75).

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EUR/NZD analysis for March 26, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading downwards, the price has broken our support zone at the level of 1.6085 and tested the level of 1.5996 on average volume. According to the daily chart, we can observe supply on average volume, which is a sign that we may see more downward movement before the larger buying reaction. If the price breaks the level of 1.6015 on high volume, we may see possible testing the level of 1.5915 (Major Fibonacci retracement 61.8%) Be careful with buying at this stage since the price broke our support zone. Watch for selling opportunities after retracement, if the price breaks the level of 1.6015. Anyway, if the level of 1.6015 (submajor Fibonacci expansion 100% )can hold, we may see possible bullish reaction.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6181

R2: 1.6211

R3: 1.6260

Support levels:

S1: 1.6083

S2 : 1.6053

S3: 1.6004

Trading recommendation: Be careful with buying the EUR/NZD and watch for selling opportunities after retracements., if the price breaks the level of 1.6015.

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GOLD analysis for March 26, 2014 Trend News

Overview:

Since our last analysis, Gold has been trading sideways, around the price of 1,310.00 on average volume, we are still waiting for a larger movement. According to the daily chart, we can observe weak demand on volume above the average, which is a good sign for the further downward movement. According to the daily chart, we can also observe high churn bar at the price of 1,309.00, which may represent taking profit level for institutions. 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 (already met) and Fibonacci Retracement 61.8% at the price of 1,263.00. We can also observe previous swing high zone at the price of 1,279.00, which may be a good support zone for Gold. Next down stations on short-term prospective are the levels 1,279.00-1,263.00. Be careful with short-term buying and watch for selling opportunities after retracements.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,315.97

R2: 1,318.73

R3: 1,323.20

Support levels:

S1: 1,307.03

S2: 1,304.27

S3: 1,299.80

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 26, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair is still testing the counter trend line as seen here around 141.00 levels. A break below, in the sell zone is required to confirm further downside towards 130.00 levels. It is recommended to remain short (aggressive trade setups), risk remains at 144.00.

2. Immediate support is seen at 138.50, followed by 136.00, 134.00, and lower, while resistance is at 144.00, followed by 145.50 respectively.

3. The structure indicates that EUR/JPY should drift lower towards 130.00 levels at least. A push above 144.00 would delay matters.

Trading recommendations:

Remain short, (aggressive trade setup), stop is at 144.00, target is open.

Good luck!

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Technical analysis of GBP/CHF for March 26, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair is raising past the line of resistance towards 1.4700 at the moment. The sloping line resistance is just around the 1.4720/30 mark, and also the expected of reversal. It is recommended to remain short with risk at 1.4700.A break above the trend line would be discouraging for the bulls.

2. Immediate support is at 1.4450/60 (intermediary), followed by 1.4350, 1.4200 and lower, while resistance is at 1.4850/1.4950 and 1.5120 respectively.

3. The wave structure indicates that GBP/CHF should continue to drift lower till at least 1.4350 for the bears to remain in control. Failure to do so, shall shift focus again towards 1.4950 and higher up.

Trading recommendations:

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

Good luck!

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Technical analysis of Silver for March 26, 2014. Trend News

Technical outlook and chart setups:

1. Silver has completed its corrective fall from $22.30 levels at sub $20.00 levels as expected. This region is also re-enforced by the fibonacci 0.618 support as seen here. Till the time prices remain above $19.00 levels, expect the metal to print higher highs and higher lows. It is therefore recommended to remain long, risk is at $19.00.

2. Immediate support is at $19.00, followed by $18.75 and lower, while resistance is at $21.70, followed by $22.30 respectively.

3. The structure indicted that bulls should resume rally towards $24.00/25.00 levels soon enough. Immediate support at $19.00 should hold for bullish structure to remain.

Trading recommendations:

Remain long, stop is at $19.25, target is open.

Good luck!

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Technical analysis of Gold for March 26, 2014. Trend News

Technical outlook and chart setups:

1. Gold prepares to stage a counter trend rally as shown here towards $1,350.00/60.00 in the sessions to come. This rally could be potentially used to get short positions initiated. It is recommended to remain long from yesterday, risk is below $1,305.00.

2. Immediate resistance is between $1,340.00 and $1,360.00 in a broader fibonacci range, followed by $1,388.00, while support is at $1,230/40, followed by $1,180.00 respectively.

3. The structure indicated that Gold should continue drifting lower for now. Minimum level of expectations are $1,250.00/60.00 levels.

Trading recommendations:

Remain long in the short term, stop is at $1,305.00, target is at $1,355.00.

Good luck!

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Technical analysis of USD/CHF for March 26, 2014 Trend News

Trading recommendations :

• According to the previous events, the USD/CHF pair has still been moving between 0.8803 and 0.8893. It should be noted that the key level is set at the level of 0.8803 because is representing a strong support and it is coinciding with the weekly pivot point. Equally important, the double top will be formed at the 0.8868 level but it seems the price is going to break this level in order to continue towards the level of 0.8893. As it is know, history will probably repeat itself at this level again. Therefore, it will a good sign to sell below 0.8900 with the first target of 0.8855. It will call for downtrend in order to continue its bearish movement towards 0.8803. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed above 0.8900 at the price of 0.8925.

Intraday technical levels :

Date & Time: 26/03/2014 10:45

Pair: USD/CHF

• Projected high: 0.9009


• Breakout (buy stop): 0.8954


• Strong resistance (sell limit): 0.8924


• Current pivot: 0.8831 (but the weekly pivot point is going to set at the price of 0.8803).


• Strong support (buy limit): 0.8738


• Breakout (sell stop): 0.8713


• Projected low: 0.8663

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#USDX Technical analysis for March 26, 2014 Trend News

The Dollar index continues to trade sideways. Short-term trend is neutral but could easily change to up as the momentu from the big upward movement from 79.20 to 80.40 is strong. My preferred scenario is that Dollar will strengthen and the index will break resistance levels.

Short-term support at the 61.8% Fibonacci retracement has held and the index is trading above this level. Short-term resistance is found at 80.40 and then at 81. Short-term support is found at 79.70. If this support fails, we should expect the index to fall towards 79.55. Stop for bulls is 79.20.

The Dollar index is trying to move above the upward sloping long-term trend line that was once support and is now resistance. The Ichimoku cloud is still above the current price and that is why bulls should remain ver cautious. Long-term trend will change if price breaks above the Ichimoku cloud and the 80.70 resistance. We remain mildly bullish as long as we trade above 79.20.

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Gold technical analysis for March 26, 2014 Trend News

Gold price remains in downtrend. According to our elliott wave analysis, there is increased chance of an upward bounce towards $1,340-50. However, we have no strong buy signal yet. The trend remains down and the strength and form of the decline implies that even if the price bounces towards $1,340-50, we should expect more downside pressures. Gold price has fallen in an impulsive pattern. Since $1,375 we have been pointing out that a large degree correction could be heading towards $1,300-1280. I believed that a bounce could have come earlier but bears have a lot of strength currently.

Gold price needs to break clearly out of the downward sloping red trend line. Resistance is found at $1,320 and then at $1,335. Ichimoku cloud is now above price and this confirms that trend is down. We expect that the Ichimoku cloud could be back tested near $1,340-50.

Gold longer-term support is at the Ichimoku cloud as can be seen in the daily chart above. The support price level is $1,260-80. I do not expect Gold price to break below this area now. I believe that a bounce towards $1,340 will come before breaking this support level. Concluding, trend remains down. We look to sell near $1,340-50.

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Elliott wave analysis of EUR/NZD for March 26, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.6167

R2: 1.6134

R1: 1.6099

Current spot: 1.6056

S1: 1.6049

S2: 1.6018

S3: 1.5983

Technical summary:

With the unexpected break below support at 1.6086, the wave iv correction is turning into an expanded flat correction. In the short term, look for support in the 1.6038 - 1.6049 area for a break above 1.6075 and more importantly a break above resistance at 1.6134 that confirms wave c higher towards 1.6400 is unfolding. Only an unexpected break below 1.6038 will prolong wave b towards 1.6018 and maybe even deeper to 1.5983 before the final impulsive rally in wave c of iv towards 1.6400.

Trading recommendation:

The stop at 1.6100 was hit for a small loss. Buy EUR again here at 1.6056 with a stop at 1.5970 and place your take profit at 1.6375.

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Elliott wave analysis of EUR/JPY for March 26, 2014 Trend News

Today's Support and Resistance levels:

R3: 142.11

R2: 141.90

R1: 141.54

Current spot:141.28

S1: 141.08

S2: 140.69

S3: 140.43

Technical summary:

The complex correction from 140.43 is still unfolding. We continue to look for this ongoing wave ii towards the target area between 142.11 and 142.50, before the next impulsive decline can be expected. In the short term we will be looking for support at 141.08 to protect the downside for a break above minor resistance at 141.54, which will confirm a continuation higher towards the ideal target area between 142.11 - 142.40. Once this wave ii correction is over, look for a decline to at least 136.45.

Trading recommendation:

Close your short positions from 141.25 here at 141.28 with a small loss. Sell EUR again at 142.40 or upon a break below 140.66 and place your stop at 143.85.

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Technical analysis of EUR/JPY for March 26, 2014 Trend News

General overview for 26/03/2014 08:00 CET

Yesterday's intraday analysis worked very well and the pair declined to the anticipated target levels, but there is still no decision here and the market continues to trade in a range. Due to the correction getting more complex, I have labeled one more alternate count in shape of a possible double three correction instead of a triangle correction. From the upside the resistance is at the level of 141.97 and from the downside the support is at the level of 140.40. The market must break out above or below either direction to confirm the Elliott wave labeling. Bias is to the downside due to larger time frame cycles.

Support/Resistance:

141.97- Intraday Resistance

141.85 - WR1

141.50 - Red Trendline Resistance

141.13 - Weekly Pivot

140.72 - Intraday Support

140.40 - Technical Support

140.30 - WS1

Trading recommendations:

Sell stop orders should be opened from the level of 141.97 with SL above the level of 142.41 and TP at the level of 140.72 and 140.34.

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Technical analysis of USD/CAD for March 26, 2014 Trend News

General overview for 26/03/2014 07.30 CET

Yesterday's recommendations were correct, the price fell to the target level, and currently is at the key level of 1.1152. From now on, the market might continue to retrace even deeper to the level of 1.1121 or bounce intraday to perform a weekly pivot test at the level of 1.1187 and then resume the retracement to the downside. From Elliott wave point of view, the market is now in wave 3 red that might get extended to the downside but a few corrections on the way down every now and then are absolutely correct.

Support/Resistance:

1.1277 - Swing High

1.1187 - Weekly Pivot

1.1152 - 50%Fibo|Technical Support|Key Level

1.1121 - 61%Fibo

1.1095 - WS1

1.1078 - 78%Fibo

Trading recommendations:

Short positions opened earlier should still be kept open as more downside price extension is anticipated.

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