Weekly forecast for gold for April 14-17, 2014 Trend News

The geopolitical tensions made the yellow metal to fly a bit higher. The UN Security Council is holding an emergency meeting at Russia's request amid growing violence in eastern Ukraine. A United Nations Security Council diplomat said that the council would meet today in New York at Russia's request. Another diplomat said negotiations were under way on Ukraine's participation. The total gold in trust is 804.42 tonnes as per SPDR gold shares.

Technical view-

Weekly basis April 14-17

In the Asia's trading session,the metal is trading at $1,328 levels. It has broken the 200EMA level and is trading above it. For positional strategy, in case of a day close above the 200EMA level, we can expect the bulls to gain some more strength towards $1,342 levels. The weekly support exists at $1,310 and $1,300 levels. During this week, we expect the pair to trade between $1,315-$1,335. Once the metal breaks the $1,335 level, it will fly immediately towards $1,342. On the down side, the metal breaks the $1,315 level, it will drop to $1,315,$1,300, below this, $1,295, $1,291, $1,285, and $1,277 levels. If this week is closed above the $1,335 levels, the bulls can make more legs towards $1,342, $1,347, and $1,359 levels next week.

In the near term, the metal extends its leg almost to the overbought level. RSI is reaching the overbought levels in the H4 chart. We expect the correction will take place at $1,335 or $1,342 levels towards $1,315 and $1,310 levels, before it further moves towards $1,359 levels. For intraday perspective, the up move will continue once the pair trades above the $1,329 level for $1,334-1,335 levels.

Recommendations-

Intraday- buy above $1,329 for targets at $1,334-$1,335 or buy with sl $1,324.0.

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



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Technical analysis of USD/JPY for April 14, 2014 Trend News

Economists estimate US retail sales have climbed by 0.9% in March. Excluding autos and gas, sales are estimated to have climbed by 0.4%. “Retail sales probably rose solidly in March after severe winter weather weighed on recent sales performance,” said UBS’s Kevin Cummins. “Among components, auto sales likely increased solidly after only a modest rise in February and sharp declines of 2.2% in January and 2.1% in December.

USD/JPY has been in a downtrend from 104.10 levels. It made a double top pattern and is moving to lower levels. This week's trading pattern is very crucial to this pair. If the pair closes below the previous weeks low at the 101.33 level, it will resume its 17-month bullish flag pattern and it will drift towards the 100 levels. In the weekly chart, the RSI is favoring sell mode. For the week of April 14-17, we expect the pair will give a pullback towards 101.85, 102.2, 102.5 levels. A day close above the 102.5 levels will cause the pair to fly up to 103.30 levels.

In the H4 chart, RSI is giving a positive direction favoring bulls. This view will be invalidated once the pair breaks the 101.33 levels. In Asia's trading session the pair is trading at 101.57 levels. The pair is forming a symmetric triangle, if it gives an upside breakout, it will fly towards 101.8 and 102.17 levels. If it breaks the 101.33 level, it will fall to 100 levels. Until the pair closes above the 102.50 levels, sell-on-rallies will be the best strategy. Bulls will be back only above the 102.50 levels. If the pair is unable to cross 102.16 levels again, it will retest the lower levels, or maybe it will break the previous low and will drift towards 100.5 and 100 levels.

Intraday-

Buy above 101.71 for targets at 101.86, 102, and 102.16. The material has been provided by InstaForex Company - www.instaforex.com



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Technical analysis of EUR/USD for April 14, 2014 Trend News

When the European market opens, some economic news will be released such as Industrial Production m/m.The US will release the economic data too such as the Core Retail Sales m/m, Retail Sales m/m, Business Inventories m/m, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3913.

Strong Resistance:1.3904.

Original Resistance: 1.3891.

Inner Sell Area: 1.3878.

Target Inner Area: 1.3845.

Inner Buy Area: 1.3812.

Original Support: 1.3799.

Strong Support: 1.3786.

Breakout SELL Level: 1.3777.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3799 and 1.3891. The rate is accompanied by strong support at 1.3786 and by 1.3904 as strong resistance.

If EUR/USD breaks out and closes below the 1.3777 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3913 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 1.3812 and at 1.3878, a SELL position. In this case both targets should be placed at the level of 1.3845.

Best regards,

Arief Makmur

Official Analyst of InstaForexGroup InstaForex Group

http://instaforex.com

For more analysis go to: blog.mt5.com/arief

Disclaimer:

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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



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Technical analysis of USD/JPY for April 14, 2014 Trend News

In Asia, Japan will not release any economic data and the US will release some economic data such as Core Retail Sales m/m, Retail Sales m/m, Business Inventories m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.02.

Resistance. 2: 101.82.

Resistance. 1: 101.62.

Support. 1: 101.38.

Support. 2: 101.19.

Support. 3: 100.98.

DESCRIPTION:

Please, pay attention to the levels of support 3 (100.98) and resistance 3 (102.02). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

For more analysis go to: blog.mt5.com/arief

Disclaimer:

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for April 14, 2014 . Thanks for your support on Technical analysis of USD/JPY for April 14, 2014

Weekly analysis of GBP/USD for April 14-17, 2014 Trend News

The economies of Canada and the U.K. are making progress. In Canada, the central bank on April 16 is projected to keep its benchmark interest rate unchanged and update its economic forecast amid signs the recovery is picking up. The same day, figures will probably show the jobless rate in the U.K. has dropped.

Weekly view- April 14-17

GBP/USD is trading in a tight range between 1.6823-1.6718 levels. The pair made a double top and keeps on correcting. In Asia's trading session the pair is trading at 1.6726 levels. The pair is taking support at 1.6718 level. Once it breaks this level, the pair will be completely in bear hands. As we recommended earlier, sell on rally up to 1.6823, the same we are recommending this week, but fresh short positions will generate only below the 1.6718 level for 1.6684 and 1.6675 levels immediately and 1.6660 and 1.66 later. In the H4 chart, RSI is favoring sell side. On the up side, the pair is facing resistance at 1.6786 and 1.6823 levels.

In case of a day close below the 1.6718 levels, the bear move will be towards 1.66 and 1.6554 levels. Fresh up move is only above the 1.6823 levels for 1.69-1.6910 levels.

For intraday perspective, we expect the pair will pull back towards 1.6750 and max 1.6786. On higher levels, traders again can enter short positions with sl 1.6823 on a closing basis.

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Forecast and weekly analysis of EUR/USD for April 14-17, 2014 Trend News

Forecast

Too many people first called the collapse of the dollar and then later the fall of the euro. A few days back, I discussed an extended ending pattern which would not hold ground above 1.4. So here is the big alternate as many currencies continue their rise against the dollar once again and commodities are rising on pessimism. Are we seeing the real dollar collapse? The long-term chart of the euro has an alternate count that I discussed in my previous articles. The monthly chart keeps making higher tops and bottoms indicating that a trend may be developing.

If the euro moves above 1.4, it would trigger a movement to the upper band in the monthly chart for targets at 1.425, 1.44, 1.4550, 1.47, and 1.496 levels. You can check the calculation in the below weekly chart.

In the daily chart, it would possibly count as follows. That the entire 2005-2012 pattern is a running triangle in wave B and now wave C up long term has started (monthly chart). The Elliott wave pattern in the daily chart is shown in the below chart. The daily chart would count as a series of impulses and we have just completed wave 2 of 3. Wave 3/3 should have now started. Above 1.4, this bullish alternate would have to be actively considered on the euro. And with the euro having near 50% weightage on the dollar index, the dollar would continue to fall.

Weekly analysis (April 14-17)

The pair is facing strong resistance at 1.39 levels. As we recommended in the previous articles, sell on rally for the short-term perspective, the same strategy we are following this week as well. Until the pair trades above 1.4 levels, traders can generate some short positions. The first sign of weakness for this week is that the pair is trading below 1.3876 level (March 24 high). In Asia, the pair is trading at 1.3846 levels. On the down side, the pair has strong support at 1.3820, 1.3807, and 1.3780. Once the pair breaks the 1.3780 (50SMA) levels that will trigger panic, it will drift towards 1.3673 (April 4 low), 1.3643 (March 27 low).

On the up side, if the pair trades above the 1.3876 levels, it will fly up to 1.39, 1.34, and 1.396 levels. Please remember the pair is facing selling pressure on 1.39 levels. Fresh up move will take place only above 1.4 levels. The RSI in the H4 chart, favors sell side. I expect the pair will touch 1.374 levels during this week.

For intraday perspective, the pair becomes weak below 1.3826, and strong, above 1.3864 towards 1.3896 and 1.3906 levels. We expect a pullback towards 1.3864 and 1.39 levels.

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



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Daily analysis of USDX for March 14, 2014 Trend News

Daily chart: The USDX is making a bullish rebound above the support level of 79.19, but this is part of the corrective movements for bearish trend. It is expected that this bullish momentum will continue to the level of 80.00. However, if the USDX does make a breakout at the support level of 79.19, it's expected to fall to the level of 78.12. The MACD indicator is in negative territory.

H4 chart: The USDX remains above the support level of 79.33. For now, it is likely that the USDX will attempt to climb to the resistance level of 79.69. If the USDX makes a breakout at that level, it would be expected to rise to the level of 79.93. On the other hand, if the USDX makes a breakout at the support level of 79.27, it's expected to fall to the level of 78.50. The MACD indicator is in positive territory.

H1 chart: The USDX continues to find strong support on the level of 79.39, but now, it is waiting for the USDX to perform some corrective moves. The USDX remains below the-200 SMA, so we must be cautious before a breakout at the 79.88 level, which could strengthen the bullish bias. The MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 79.39, take profit is at 79.13, and stop loss is at 79.64.

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Daily analysis of GBP/USD for April 14, 2014 Trend News

Daily chart: The GBP/USD is forming a bullish pattern below the resistance level of 1.6766. Now, it is very likely that this pair will fall further in the coming days as part of the corrective movements. However, if the pair manages to make a breakout at the resistance level, it's expected to rise to the level of 1.6851. The MACD indicator is in positive territory.

H4 chart: The GBP/USD is finding support on the bearish trend line near to the 1.6715 level. If the pair manages to consolidate below that level, it would be expected to fall to the support level of 1.6683. On the other hand, if this pair makes a bullish rebound at current levels, it would be expected to go up to the resistance level of 1.6785. The MACD indicator is in negative territory.

H1 chart: This pair is consolidating below the resistance level of 1.6750 and it is likely to fall to the support level of 1.6700, where the 200 SMA is. If the pair manages to make a breakout at that level, it would be expected to fall to the level of 1.6629. The MACD indicator is moving into positive 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 1.6750, take profit is at 1.6800, and stop loss is at 1.6700.

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