Technical analysis of GBP/CHF for March 28, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF is testing/probing resistance line at 1.4740/50 as seen here. A bullish break would enable prices to push higher towards 1.4850/60 and even higher. It is recommended to remain flat and watch out for a reaction on the trend line before committing a position.

2. The immediate resistance is at 1.4850/60, followed by 1.4950/60 and 1.5120 while supports are spread through 1.4470 (intermediary) followed by 1.4350 and lower respectively.

3. The structure indicates that bulls would regain control back on a break of the resistance line above 1.4750. Stay away for now.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of EUR/JPY for March 28, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY remains subdued around 140.00 levels after breaking down the trend line support. As seen here, the trend line resistance is around 142.00 for now and any intraday rallies should remain well capped below that. It is recommended to hold short positions for now, risk remains at 144.00.

2. Immediate intermediary resistance is at 144.00, followed by 145.50, while supports are spread through 138.50/136.00 (intermediary), followed by 134.00, 131.00 and lower respectively.

3. The structure reveals that a break below 138.50 levels would be required to confirm further downside and also acceleration.

Trading recommendations:

Remain short for now, stop is at 144.00, target is open.

Good luck!

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Technical analysis of USD/SGD for March 28, 2014 Trend News

The pair has been in a downtrend from the 1.2769 level. The pair has kept correcting for the last 5 days. It has erased all its gains this week. In Asia's trading session, the pair is trading at 1.2607. It is trading near the strong support levels. Multiple supports March 2014, at 1.26, 1.25798 (200EMA), and 1.2560 levels. A move below the level of 1.2560, make real problems for bulls towards the lower purple line or 1.2427 (December 10, 2013 low). On the upside, if the pair trades above the red trend line, it will fly up to 1.2650 and1.2666. The real strength of bulls will come back once the pair trades above the level of 1.2666 (50SMA).

In the H4 chart, stochastics is giving a positive divergence. It means we can see some pullback from the current levels at 1.26 or 1.2588 or even lower at 1.2560. If the pair breaks the resistance line (red), it will fly up to 1.2654 and 1.2667. We can see a real strength above the level of 1.2667 (50SMA) towards 1.27, 1.2725, and 1.2770 levels.

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Technical analysis of USDX for March 28, 2014 Trend News

The US dollar index is moving in a range between two purple lines. Today or on Monday, we can see some kind of action, either breakout. On the downside, 79.75 is the strong support in the near term and 79.25-79 is the rock base support in the long term. On the up side, 80.28 (50SMA) is the strong resistance. If it trades above this, we will see 80.58, 80.70 immediately and 81.32 later. In the daily chart, RSI favors the long side. Minor support exists at 80.10 and 79.95.

In the H4 chart, the US Dollar index is trading above all the daily momentum indicators. On the downside, support exists at 80.06, 80.0, and 79.90 levels. On an intraday basis, a move below 79.90 gives a weak signal towards 79.75. On the upside, if the price gives a breakout above the purple line, it will go up to 80.27 and 80.35.

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Forecast on GBP/USD for March 28, 2014 Trend News

Traders eye today's current account deficit figures. GBP/USD is trading at 1.6610 in Asia's trading session. In yesterday's trading session, the pair moved towards the 50.0 fib level and was unable to cross the level of 1.6648 (March 18 high). The pair has been continuing its 4-day winning steak. On the downside, support levels exist at 1.6590, 1.6576 (50SMA), and 1.6555 (23.6 fib and yesterday's low). The pair came out from the falling wedge on Wednesday. The next up move will take place only above 1.6654 for targets at 1.6718 and 1.6750. We recommend to go long only above the level of 1.6654.

Forecast:

In the weekly chart, RSI started its journey towards the downside. It indicates selling on rallies. On a positional basis, the pair is facing resistance levels at 1.6666, 1.6786, and 1.6823. On the downside, support exists at 1.6424. On a monthly basis, the level of 1.6424 is the crucial for the bulls to hold. Below this, 1.6252-1.62, 1.6049, and 1.5929 will be possible.

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Technical analysis of Silver for March 28, 2014. Trend News

Technical outlook and trade setups:

1. Silver is seen to be producing a morning star buy signal just ahead of the rising trend line support at $19.50 for now. This is indicative of a possible bullish reversal for the metal. It is recommended to remain long and also add fresh long positions at current price of $19.80/81.

2. The immediate support is at $19.00 levels, followed by $18.75 and lower, while resistance is at $21.70/80, followed by $22.30 and $23.00 respectively.

3. The wave structure indicated that Silver might be resuming its next bull run, having possibly bottomed out ahead of $19.50 levels yesterday.

Trading recommendations:

Remain long and also look to add now, stop is at $19.25, target is open.

Good luck!

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Technical analysis of Gold for March 28, 2014. Trend News

Technical outlook and chart setups:

1. Gold might be ready to resume its counter trend t=rally towards $1,350.00 region that we have been expecting since several days now. Short term charts are pointing towards going long (more risky though) with risk at $1,280.00. A more conservative approach would be to stay aside for now and look to sell higher up. The entire counter trend shall possibly unfold in 3 waves.

2. Immediate resistance is $1,350.00 region (also the back side of trend line), followed by $1,388.00, while supports are seen at $1,280.00, followed by $1,234.00/40.00 and lower respectively.

3. The entire structure indicates that Gold should produce a 3 wave corrective fall/retracement towards $1,250.00/60 before the next bull run resumes.

Trading recommendations:

Short entries are at $1,350.00, stop is at $1,388.00, target is at $1,250.00

Good luck!

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Technical analysis of EUR/USD for March 28, 2014 Trend News

When the European market opens, some economic news will be released such as German Import Prices m/m, German Prelim CPI m/m, French Consumer Spending m/m, Italian 10-y Bond Auction.The US will release the economic data too such as the Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3809.

Strong Resistance:1.3800.

Original Resistance: 1.3787.

Inner Sell Area: 1.3774.

Target Inner Area: 1.3741.

Inner Buy Area: 1.3708.

Original Support: 1.3695.

Strong Support: 1.3682.

Breakout SELL Level: 1.3673.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3695 and 1.3787. The rate is accompanied by strong support at 1.3682 and by 1.3800 as strong resistance.

If EUR/USD breaks out and closes below the 1.3673 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3809 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 1.3708 and at 1.3774, a SELL position. In this case both targets should be placed at the level of 1.3741.

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 28, 2014 Trend News

In Asia, Japan will release the Household Spending y/y, Tokyo Core CPI y/y, National Core CPI y/y, Unemployment Rate, Retail Sales y/y, and the US will release some economic data such as Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations. 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: 102.63.

Resistance. 2: 102.48.

Resistance. 1: 102.23.

Support. 1: 101.98.

Support. 2: 101.78.

Support. 3: 101.58.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.58) and resistance 3 (102.63). 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 28, 2014 Trend News

Daily chart: The USDX is trying to consolidate above the 80.11 level. However, USDX remains within a low range as part of the formation of a lower high pattern. If the USDX manages to consolidate above this level, it would be expected to rise to the resistance level of 80.62. The MACD indicator remains in positive territory.

H4 chart: The USDX has formed a fractal near the resistance level of 80.15, so it is very likely that the USDX to fall back support level of 79.93. If the USDX manages to consolidate below the support level of 79.93, it's expected to fall to the level of 79.69. The MACD indicator is in neutral territory.

H1 chart: The USDX remains below the resistance level of 80.15 and above the 200-day moving average, so our bullish outlook on the USDX remains alive. If the USDX does make a breakout at the resistance level, it is expected to rise to the level of 80.35. The MACD indicator is entering 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 28, 2014 Trend News

Daily chart: The GBP/USD continues to strengthen above the support level of 1.6540 and now this pair is trying to continue its bullish bias toward the resistance level of 1.6663. However, it is very likely that this pair will begin to form a bullish pattern, as the GBP/USD has made consecutive bullish movements during recent days. The MACD indicator is oversold.

H4 chart: This pair is trying to consolidate above the 200-day moving average, after the GBP/USD has successfully managed to form one lower high pattern. If the pair manages to make a breakout on the resistance level of 1.6644, it's expected to rise to the level of 1.6667. For now, the GBP/USD remains very bullish. The MACD indicator is entering overbought area.

H1 chart: The GBP/USD found strong resistance at the level of 1.6629. However, this pair is trying to make a breakout at that level. If successful, it is expected to rise to the resistance level of 1.6700. On the other hand, if the pair manages to make a breakout in the support level of 1.6578, it's expected to fall to the level of 1.6544. The MACD indicator is in negative territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6629, take profit is at 1.6700, and stop loss is at 1.6558.

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Technical analysis of USD/CAD for March 28, 2014 Trend News

The pair has been in a downtrend from the 1.1279 level. The pair has kept correcting for the last 5 days. It has erased all its gains this week. In Asia's trading session, the pair is trading at 1.1031. The pair is trading near the support trend line (purple) and below all the near moving averages that raises bearish view. On the downside, the pair has support at 1.0955 and 1.0910. A move below the level of 1.0910 makes real problems for bulls, and bears will take the pair towards the blue trend lines and the last lower support level at 1.0687 (200EMA).

In the H4 chart, RSI is giving a buy signal. As of now, the pair is trading at 1.1031. We expect a pullback in 1 or 2 days. On the upside, it is facing resistance at 1.1089, above this, it will fly up to 1.1119, 1.114, and 1.1162.

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Intraday technical levels and trading recommendations for GBP/USD for March 27, 2014 Trend News

Daily fixation below this price zone enabled the pair to reach 1.6464 as a projection target.

The recently achieved low at 1.6465 prevented further decline. However, there is still no clear signals of bullish reversal.

Four-hour fixation above 1.6690-1.6700 will probably signal weakness of the bears to pursue their uptrend exposing price level of 1.6775 for retesting.

Now the price zone of 1.6650 will probably offer a valid SELL entry at retesting (50% Fibonacci of the latest bearish swing).

Stop loss should be the four-hour closure above 1.6690.

On the other hand, falle below 1.6555 will expose 1.6500 and 1.6470 immediately.

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Intraday technical levels and trading recommendations for EUR/USD for March 27, 2014 Trend News

Daily fixation below 1.3850 gathered significant bearish pressure enough to breakdown the lower limit of the daily bullish channel.

This week, there has been a minor Intraday Demand level expressed at 1.3750 of the recent slide from 1.3965.

Four-hour candlestick fixation above 1.3790 signals a temporary bottom that will target at 1.3850.

Price level 1.3850-1.3870 remains a significant supply zone (neckline of the 4H reversal pattern). It provided a valid SELL entry at retesting as expected. Stop loss should be located above 1.3870

On the other hand, failure to fixate above 1.3790 will expose the recent low 1.3748.

A slide below which opens the way towards lower lows located at 1.3700 and 1.3660.

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

Overview:

USD/JPY is expected to trade in lower range. It is undermined by the flows to haven JPY and unwinding of the JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 6.49% to 14.93, S&P fell 0.7% overnight) on prospect of harsher sanctions on Russia over Ukraine crisis following U.S. President Obama's speech in Brussels. USD/JPY is also weighed by the lower U.S. Treasury yields and Japan's exports sales. But the U.S. dollar sentiment is soothed by the stronger-than-expected 2.2% increase in the U.S. February durable goods orders (versus +0.8% forecast), rise in Markit U.S. flash services PMI to 55.46 in March from 53.34 last month. USD/JPY losses are also tempered by the demand from the Japanese importers and loose Bank of Japan monetary policy.

Technical сomment:
Daily chart is mixed as MACD is flat, stochastics is neutral, 15-day moving average is meandering sideways.

Trading recommendation:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 101.75. A breach of this target will move the pair further downwards to 101.45. The pivot point stands at 102.45. In case the price moves in the opposite direction, bounces back from support level, and then moves above its pivot point, it is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 102.65 and the second target at 102.85.

Resistance levels:

102.65

102.85

103.15

Support levels:

101.75

101.45

101

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EUR/NZD analysis for March 27, 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 1.5846 on volume above the average. According to the daily chart, we can observe supply on volume above the average, which is a sign that we may see more downward movement before the larger buying reaction. We may see possible testing of the level of 1.5630 (major Fibonacci expansion 100%.) Be careful with short-term buying at this stage since the price broke our support zone. Watch for selling opportunities after retracement.There is always a chance for smaller bullish correction but the global direction is bearish.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6110

R2: 1.6142

R3: 1.6194

Support levels:

S1: 1.6007

S2 : 1.5975

S3: 1.5924

Trading recommendation: Be careful with buying the EUR/NZD and watch for selling opportunities after retracement.

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

Overview:

USD/CHF is expected to trade with risks skewed lower. It is undermined by the flows to haven CHF amid increased investor risk aversion. But USD/CHF losses are tempered by the franc sales on soft CHF/JPY cross. Daily chart is still positive-biased as MACD and stochastics is in bullish mode, 5-day moving average is above 15-day MA and is advancing, although 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 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 0.8810. A breach of this target will push the pair further downwards and one may expect the second target at 0.8785. The pivot point is at 0.8830.

Resistance levels:

0.887

0.8890

0.8915

Support levels:

0.8810

0.8785

0.8765

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

Overview:

NZD/USD is expected to consolidate with bullish bias after hitting one-week high at 0.8620 on Wednesday. It is supported by the larger-than-expected New Zealand February trade surplus of NZD818 million, its biggest since April 2011 (versus NZD622 million forecast), spillover from the Aussie strength, diminished concerns over China, and hawkish Reserve Bank of New Zealand's monetary policy stance. But NZD/USD gains are tempered by the kiwi sales on soft NZD/JPY cross amid increased investor risk aversion and kiwi sales on buoyant AUD/NZD cross. Daily chart is positive-biased as stochastics is bullish, 5- and 15-day moving averages are advancing.

Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.87 and the second target at 0.8720. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8585. A breach of this target will push the pair further downwards and one may expect the second target at 0.8565. The pivot point is at 0.8620.

Resistance levels:

0.87

0.8720

0.8740

Support levels:
0.8585

0.8565

0.8530

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Technical analysis of GBP/JPY for March 27, 2014 Trend News

Overview:

GBP/JPY is expected to consolidate with bullish bias. It is undermined by the increased investor risk aversion and Japan's exports sales. But EUR/JPY losses are tempered by the demand from the Japanese importers and loose Bank of Japan monetary policy. Daily chart is negative-biased as MACD and stochastics is bearish, 5-day moving average is below 15-day MA and still declining.

Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 170.10 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 169.20.

Resistance levels:

170.10

170.5

180

Support levels:

168.30

168

167.70

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GOLD analysis for March 27, 2014 Trend News

Overview:

Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,291.38 on volume above the average. According to the daily chart, we can observe supply demand bar on volume above the average, which is a good sign for the further downward movement. 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 of 1,279.00-1,263.00. Be careful with short-term buying and watch for selling opportunities after retracements. Anyway, we may see potential bullish reaction on intraday frames before we continue with more bearish movement, and resistance for intraday traders is at the price of 1,300.70 (Fibonacci retracement 61.8%)

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,314.48

R2: 1,318.62

R3: 1,325.30

Support levels:

S1: 1,301.12

S2: 1,296.98

S3: 1,290.30

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

Overview

As it was expected yesterday, more bullish signals will be expected in case of closing above the Resistance level of 169.20. Today, as it is shown in the H4 chart, the pair has already managed to break the Resistance level and close 4H above. It is keeping its move inside the bullish channel. Currently, the pair is approaching the Resistance level of 170.50 trying to break it through to continue the upward move. More bullish signals would be expected in case of closing 4H above this Resistance level with the first target few pips below the Resistance level of 171.50 then 172.75 as the second target.

Resistance and support levels: R3 (172.75), R2 (171.50), R1 (170.50), S1 (169.75), S2 (169.20), S3(168.50).

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Technical analysis of GBP/CHF for March 27, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has stopped us out at 1.47. At the moment prices are testing the line of resistance at 1.4740/50. A break here, would further push prices towards 1.4850/60 and higher. It is better to watch out for the reaction here before committing a direction position.

2. The immediate resistance is at 1.4850/60, followed by 1.4950/60 and 1.5120/30 while supports are at 1.4350, followed by 1.42 and lower respectively.

3. The structure reveals that bulls are gaining control back and a clear break of the resistance line at 1,4750 levels would confirm that bulls shall remain in control.

Trading recommendations.

Flat for now.

Good luck!

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Elliott Wave Analysis of USD/CAD for March 27, 2014 Trend News

USD/CAD Elliott Wave
Since our last analysis, the USD/CAD pair has been trading downwards, corrective wave [ii] (coloured black) of the bigger wave A (coloured blue) has been developing. In the 1-hour chart above, we can observe that descending movements from the 1.1277 level is taking a shape of double three pattern. After a price break 50-61.8% of [i] wave, the USD/CAD pair is trying to find support now at the 76.4% level. While price remains above the 1.1020 level, we are going to look for the break above the upper trend line to join the buyers. 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 1.1494 (161.8% of wave [i]).



Support and Resistance

(S3) 1.0975, (S2) 1.1028, (S1) 1.1064, (PP) 1.1117, (R1) 1.1153, (R2) 1.1206, (R3) 1.1242.



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 1.1494 are recommended.

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

Technical outlook and chart setups:

1. The EUR/JPY pair breaks counter trend, support line as seen here. Still it is required to break below138.50 to accelerate further downside. Aggressive short positions can be held, risk remains at 144.00 levels for now.

2. Immediate intermediary support is at 138.50, followed by 136.00, 134.00 and lower, while resistances are spread through 144.00 and 145.50 respectively.

3. The structure reveals that till the time prices remain below 144.00, bears shall remain in control. Furthermore the trend line should now provide resistance for any counter rallies.

Trading recommendations:

Short positions can be held, stop is at 144.00, target is at 130.00

Good luck!

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Technical analysis of Silver for March 27, 2014. Trend News

Technical outlook and chart setups:

1. Looking into the bigger picture, Silver seems to have formed a higher low at $18.75 on December 31, 2013. The earlier low was at sub $18.00 levels. The recent fall from sub $22.00 to till date can be seen as a correction of the upswing from $18.75 to $22.30. Prices should remain above $19.00 levels for the bulls to remain in control. Stay long for now, risk is $19.00.

2. Immediate support is at $19.00, followed by $18.75, while resistance is at $21.70/80, followed by $22.00 and $23.00 respectively.

3. The structure reveals that the trend line support should hold for now around $19.50 region. A failure there should be discouraging for the bulls indeed.

Trading recommendations:

Stay long for now, stop at $19.00, target is open.

Good luck!

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Technical analysis of Gold for March 27, 2014. Trend News

Technical outlook and chart setups:

1. Gold has been drifting lower without producing a meaningful retracement as expected. An 8H chart view shows that resistance area is between $1,340.00/50.00 at the moment. If Gold rallies through the back side of the rising trend line, it is recommended to initiate short positions towards $1,250.00/60.00.

2. Immediate resistance is at $1,340.00/50.00, followed by $1,388.00, while supports are spread through $1,230.00/40.00, followed by $1,180.00 respectively.

3. The structure reveals that Gold bottom is seen at $1,250.00/60.00 for now. Counter trend rallies towards $1,340.00/50.00 are opportunities to go short.

Trading recommendations:

1. Sell between $1,340.00/50.00, stop $1,388.00, target $1,250.00.

2. Buy $1,250.00/55.00, with stop at $1,200.00, target new high.

Good luck!

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

General overview for 27/03/2014 11:50 CET

The five wave impulsive decline has been finished and now it is correction time. The first target level for the corrective wave a green is at the level of 1.1121, but the key level is little higher, at the level of 1.1141-1.1152. Only a sustained breakout above this level would change the intraday bearish outlook for this pair. When correction is completed, more downside is anticipated.

Support/Resistance:

1.1187 - Weekly Pivot

1.1152 - 1.1141 -Technical Resistance

1.1121 - Wave a target level

1.1096 - WS1

1.1078 - 78%Fibo

1.1024 - Swing Low

Trading recommendations:

As long as the price stays below the level of 1.1152, sell orders should be opened with entry at the level of 1.1121, SL above the level of 1.1153 and TP at the level of 1.1078 and 1.1024.

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

General overview for 27/03/2014 11:30 CET

The pair is making first attempts to break out from the congestion area and any downside extension below the level of 140.00 is the first confirmation of further losses in this pair. Any upside rally should be capped by red trendline that should provide a dynamic resistance. The key level to the downside is at the level of 138.78 and a break out below this level is very important to the overall bearish picture.

Support/Resistance:

141.85 - WR1

141.16 - Weekly Pivot

140.32 - WS1

139.61 - WS2

138.78 - WS3 | Key Level|

Trading recommendations:

All swing traders should keep the sell positions open for now as the price is on very important level now and any further downside breakout will confirm more weakness in this pair.

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

• Daily pivot point: 1.3796

Trading recommendations :

• The EUR/USD pair is in the short term.


• The price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3830. Also, it should be noted that the level of 1.3830 is representing the weekly pivot point on March 27, 2014. Accordingly, it will be a good sign to sell below 1.3830 with the first target of 1.3750 to test the double bottom at this price. Then, it will call for downtrend in order to continue its bearish movement towards 1.3711 (the weekly support 1). At the same time, the stop loss should be placed above the weekly pivot point at the price of 1.3774. Equally important, the support will set at the 1.3870 level.

Notes :

• Additionally, it should be noted that the range today will be about 80 pips.


• The stop loss has set in 40 pips. Hence, the risk of 40 pips should make profit of 60 pips.


• Volatility: 70.39 today.


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

Intraday technical levels :

• R3: 1.3866


• R2: 1.3847


• R1: 1.3815


• PP: 1.3796


• S1: 1.3764


• S2: 1.3745


• S3: 1.3713

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

Forecast :

• According to the previous events, the USD/CAD pair is still moving between 1.1210 and 1.1003. It should be noted that the trading recommendations today will give its effect in the long term. Also, we should remember that history will probably repeat itself at this level again.


• Sell below the level of 1.1210 with the first target at 1.1095, then it will be continued towards 1.1103 in order to test this strong support.


• Buy above the level of 1.1003 (if the trend fails to close below the strong support) with target at 1.1155, then at the price of 1.1200.

Warning :

• Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.

Notes :

• Key level is at 1.1210.


• We expect a range about 105 pips from today till tomorrow.

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#USDX technical analysis for March 27, 2014 Trend News

The Dollar index continues to trade above short-term support levels and continues to move sideways after the big spike up from 79.20. The short-term resistance at 80.40 if broken is a good buy signal with 80.70-80 next target. The index trades above the Ichimoku cloud and above the broken trend line.

The retracement towards 79.80 has completed the downward correction quite fast and this means that we could very well be in a triangle correction before moving higher. A move above 80.25 would be a good bullish sign. A break below 80 will be a bearish sign.

Our longer-term view remains bullish as long as we trade above 79.20. EURUSD is a major component of the index and if this pair breaks below 1.3750 we should expect the index to rise above short-term resistance levels.

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Gold technical analysis for March 27, 2014 Trend News

Gold continues to trade lower towards our second target of $1,290 since it has broken the support level at $1,305. The trend remains down. Gold price continues to trade below the red trend line resistance. The downward move is impulsive, implying more downside even after a bounce.

Gold price short-term support is found at $1,290-80. Short-term resistance is found at $1,305-$1,310. The downward move is extending to lower levels than we initialy expeted. This means that the false break out above $1,355 is truly a fake one, so we should start to look on bearish scenarios in the longer-term.

The daily chart shows how Gold price is approaching important support levels of $1,290-260 where the Ichimoku cloud is. The false break out above the red downward sloping trend line is verified by the strength and size of the decline. Our strategy is to wait for a bounce and then sell.

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Elliott wave analysis of EUR/NZD for March 27, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.6106

R2: 1.6054

R1: 1.6001

Current spot: 1.5925

S1: 1.5900

S2: 1.5888

S3: 1.5807

Technical summary:

The acceleration lower has invalidated the possible ending diagonal scenario. The downside acceleration has shifted the count to a much more dynamic decline in wave iii lower, and we will be looking for a decline towards the 161.8% wave i target at 1.5524 as our preferred count. The price action since mid-September last year has somewhat of a nightmare, but maybe (just maybe) things finally becomes easier to read. The first minor target we will be looking for is at 1.5702, but after a minor consolidation the next decline should be seen.

Trading recommendation:

The stop at 1.5970 was hit for a loss. Sell EUR here at 1.5925 with a stop placed at 1.6000.

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Elliott wave analysis of EUR/JPY for March 27, 2014 Trend News

Today's Support and Resistance levels:

R3: 141.74

R2: 141.32

R1: 141.05

Current spot: 140.82

S1: 140.54

S2: 140.27

S3: 139.88

Technical summary:

The decline below 140.66 and more importantly 140.43 could indicate that a new impulsive decline in wave iii is developing. That said, the correction from 140.43 has been relatively shallow and quick, therefore this decline could be a b-wave of an expanded flat correction. As both counts are more or less with a fifty/fifty chance we will let the benefit of the doubt go to the bears and that wave iii lower could be developing. If this count is correct, we should ideally see resistance at 141.05 protecting the upside for a break below 140.53 and more importantly a break below 140.30 for a move lower towards 136.45. If however, minor resistance at 141.05 and more importantly resistance at 141.54 is broken then the expanded flat correction scenario is proved to be the correct count and a move higher to 142.11 should be seen before the next impulsive decline takes over.

Trading recommendation:

Stay short from 140.65 and move your stop lower to 141.10.

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