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

When the European market opens, some economic news will be released such as Italian Bank Holiday, Belgian NBB Business Climate.The US will release the economic data too such as the Flash Services PMI, 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: 1.3897.

Strong Resistance:1.3888.

Original Resistance: 1.3875.

Inner Sell Area: 1.3862.

Target Inner Area: 1.3829.

Inner Buy Area: 1.3796.

Original Support: 1.3783.

Strong Support: 1.3770.

Breakout SELL Level: 1.3761.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3783 and 1.3875. The rate is accompanied by strong support at 1.3770 and by 1.3888 as strong resistance.

If EUR/USD breaks out and closes below the 1.3761 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3897 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 1.3796 and at 1.3862, a SELL position. In this case both targets should be placed at the level of 1.3829.

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 April 25, 2014 Trend News

In Asia, Japan will release the Tokyo Core CPI y/y, National Core CPI y/y, All Industries Activity m/m, and the US will release some economic data such as Flash Services PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian session, and with low volatility during the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.97.

Resistance. 2: 102.77.

Resistance. 1: 102.57.

Support. 1: 102.32.

Support. 2: 102.11.

Support. 3: 101.91.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.91) and resistance 3 (102.97). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

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

Disclaimer:

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

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



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Daily analysis of major pairs for April 25, 2014 Trend News

EUR/USD: This pair remains in a sideways market, and the price has some probability to trend higher when there is a breakout. This expectation is logical because the tendency of the price to reject bearish pulls has been noticed. It is either the price would break the resistance line at 1.3850 to the upside or it would break the support line at 1.3800 to the downside.

USD/CHF: After testing the resistance level at0.8850 for several times, the price of the USD/CHF has been unable to go higher than that point. In fact, the price has been corrected lower – a threat to the current bullish outlook. Any movement below the support level at 0.8800 would mean that a long trade would no longer be sensible.

GBP/USD: This is a bull market which has moved upwards by over 300 pips since March 21, 2014. Nevertheless, the uptrend has been punctuated by transient but tardy bearish corrections. It is thus safe to assume that the present bearish correction would also be transient.

USD/JPY: The USD/JPY has been moving sideways for most of this week, but there would soon be a significant breakout in the market. Until then, it would be advisable for one to stay away from this market, unless one is a scalper. When the price does break out in a determined mode, it would either break the demand level at 102.00 to the downside or break the supply level at 102.50 to the downside. The former scenario is more likely, owing to the recent price action in the market.

EUR/JPY: The price here is flat, and it would be rational to stay out of the market until there is a determined directional bias.

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GBP/USD intraday technical levels and trading recommendations for April 24, 2014 Trend News

On April 15, the bulls were concentrated around 1.6666. They provided significant support on the last pull-back resulting in a bullish reversal Hammer daily candlestick.

Shortly after, a consolidation zone was established between 1.6767-1.6830. The bulls couldn't show enough follow up around 1.6850. Instead, a sideway movement is taking place.

The GBP/USD pair looks bearish on the short-term prospective. Breakdown of 1.6767 opens the way towards 1.6700 and 1.6660.

On the other hand, price zone of 1.6830-1.6850 should be considered for selling as long as the bulls can't achieve the daily closure above it.

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Intraday technical levels and trading recommendations on GBP/USD for April 24, 2014 Trend News

Previously, around the price zone of 1.6780-1.6800, a Double Top pattern scenario was established during February and March.

The full projection target was hit at 1.6464 (61.8% Fibonacci) after the bears managed to fixate below 1.6600 (reversal pattern neckline).

The recent lows at 1.6465 as well as 1.6555 (corresponding to the depicted uptrend line) prevented further bearish decline and provided enough buying pressure to keep fixing above 1.6630-1.6666 (corresponding to a prominent top established on January 24).

As long as the ascending bottom established at the uptrend around 1.6555 remaining intact, the bulls will be consolidating at the recent highs around 1.6780-1.6800 as happening now.

The nearest demand zone to meet the pair is located at 1.6660-1.6675. It's the most recently established top on the current bullish swing.

A bearish pull-back towards 1.6660 -1.6675 was considered for buying. This position is running in profits now (+125 pips).

The 4H chart reveals more significance of the demand zone around the recently broken top mentioned above in the daily chart.

This demand zone corresponds to 50% and 61.8% Fibonacci levels which is a critical demand zone for the ongoing bullish swing which offered a valid BUY entry on the recent bearish pull-back as expected.

Failure to show enough bullish momentum above 1.6820 pushed the pair back towards 1.6670.

Today, price action should be watched around 1.6770 for a possible bearish breakdown to confirm a deeper pull-back towards 1.6610 to take place initially.

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

Overview:

USD/JPY is expected to consolidate with bearish bias. It is undermined by selling of yen crosses amid diminished investor risk appetite (VIX fear gauge rose 0.61% to 13.27, S&P 500 slipped 0.22% to close at 1,875.39 overnight) after HSBC China's April flash manufacturing PMI came in at contractionary 48.3, while U.S. new home sales unexpectedly plunged 14.5% on-month to 384,000 in March (versus 450,000 forecast). USD/JPY is also weighed by the lower U.S. Treasury yields and Japan's exports. But dollar sentiment is soothed as Markit U.S. April flash manufacturing PMI came in at 55.4, little changed from March final 55.5, but April output index was at 58.2 which is highest since March 2011 and new orders index at 58.2 is highest since May 2010. USD/JPY losses are also tempered by the demand from Japan's importers.

Technical сomment:
Daily chart is still positive-biased as MACD and stochastics is in bullish mode.

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 101.85. A breach of this target will move the pair further downwards to 101.65. The pivot point stands at 102.40. In case the price moves in the opposite direction and bounces back from support level, and then it 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 102.70 and the second target at 102.95.

Resistance levels:

102.70

102.95

103.20

Support levels:

101.85

101.65

101.40

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

Overview:

USD/CHF is expected to trade with bearish bias. It is undermined by the CHF demand on soft AUD/CHF, EUR/CHF and GBP/CHF crosses. But USD/CHF losses are tempered by the dovish Swiss National Bank's monetary policy stance. Daily chart is mixed as MACD is bullish, five-day moving average is above 15-day MA and is advancing, but stochastics is turning neutral.

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 0.88. A breach of this target will move the pair further downwards to 0.8775. The pivot point stands at 0.8845. In case the price moves in the opposite direction and bounces back from support level, and then it 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 0.8860 and the second target at 0.8880.

Resistance levels:

0.8860

0.8880

0.889

Support levels:

0.88

0.8775

0.875

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Technical analysis of GBPJPY for April 24, 2014 Trend News

Overview:

GBP/JPY is expected to consolidate with bullish bias. It is undermined by the diminished investor risk appetite and Japan's exports. But GBP/JPY downside is limited by the improved euro sentiment on upbeat euro-zone flash PMI data and demand from Japan's importers. Daily chart is still positive-biased as MACD and stochastics are bullish, five-day moving average is rising above 15-day MA.

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 172.40 and the second target at 172.80. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 171. A breach of this target will push the pair further downwards and one may expect the second target at 170.55. The pivot point is at 171.35.

Resistance levels:

172.40

172.80

173.15

Support levels:

171

170.55

170

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EUR/NZD analysis for April 24, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.6148 again on volume just above the average. We are still waiting for a larger movement on this pair. According to the 1H time frame, we can observe rejection from our resistance level at the price of 1.6148 so buying at this stage looks risky. As we already wrote in the previous analysis, EUR/NZD is in short- and mid-term bearish trend, so watch for selling opportunities after retracement. I have placed Fibonacci retracement levels for the potential downward movement and i got Fibonacci retracement 38.2% at the price of 1.6090 and Fibonacci retracement 61.8% at the price of 1.6055. Buying looks risky, so watch for selling opportunities after retracement. Any larger supply on a higher volume may confirm further bearish movement. If the price starts upward movement, there is resistance at the price of 1.6175 (previous doji swing high).

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6139

R2: 1.6172

R3: 1.6227

Support levels:

S1: 1.6030

S2 : 1.5997

S3: 1.5943

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

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GOLD analysis for April 24, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,269.85 on high volume. If we take a look at 4H timeframe, we can observe that support level at the price of 1,277.00 got broken. We can also observe weak demand in the background, which caused price to start moving downwards. According to the short-term prospective, gold is in progress of major bearish corrective phase and I've placed Fibonacci retracement to find the first down station. I got Fibonacci retracement 61.8% at the price of 1,263.00. My advice is to watch for selling opportunities after retracement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,287.79

R2: 1,289.67

R3: 1,292.73

Support levels:

S1: 1,281.67

S2: 1,279.79

S3: 1276.73

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

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

General overview for 24/04/2014 12:45 CET

The upward corrective cycle on hourly time frame has been labeled as a complex WXY correction with ending diagonal formation in last wave c green of wave Y brown. The whole corrective cycle in this time frame has been labeled as a wave X black and there is one more bigger cycle to the downside missing - leg Y black. Please notice that the ending diagonal structure might be not finished yet and as long as the price is above the weekly pivot level there might be more whipsaws in the cycle ending. Only a sustained breakout below the level of 1.0940 confirms the scenario.

Support/Resistance:

1.1066 - WR1

1.1052- Swing High

1.1045- 88%Fibo

1.1038 - Intraday Resistance

1.1010 - Golden Trend Line Dynamic Support

1.1004 - Weekly Pivot

1.1000 - Intraday Support

1.0976 - WS1

Trading recommendations:

As long as the level of 141.23 provides the resistance, the sell orders should be opened from the price levels close to the level of 1.1023 with SL above the level of 1.1038 and TP at the level of 1.1000 with a possible downside extension to the level of 1.0963.

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

General overview for 24/04/2014 12:15 CET

The corrective cycle is getting more complex and time consuming on lower time frames. Currently traders can keep an eye on two very important level for this market, both for bulls and bears. However, the current wave development suggests an unfinished small upward cycle to complete the wave c green of wave (c) blue before the downside trend will resume. Nevertheless, any breakout below the weekly pivot level will immediately put the grey rectangle zone to the test. This zone is , labeled as a key level for bulls. Breakout lower is bearish and lower prices should be expected sooner than later.

Support/Resistance:

142.21 - WR1

142.16 - 61%Fibo

141.97 - Technical Resistance

141.78 - Intraday Resistance

141.32 - Intraday Support

141.23 - Weekly Pivot

140.97 - 141.06 - Supply Breakthrough Zone

Trading recommendations:

As long as weekly pivot at the level of 141.23 provides the support, the buy orders should be opened from the price levels close to the level of 141.32 with SL below the level of 141.25 and TP at the level of 141.96 and 142.16.

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Technical analysis of Silver for April 24, 2014 Trend News

Technical outlook and chart setups:

1. Silver is trading in the sell zone of support line but $19.00 levels remain intact. The metal is consolidating in a decreasing cone format and hence a break below $19.20 would be extremely bearish and would threaten the potential uptrend setup as well.

2. Support is at $19.00, followed by $18.75 and lower, while resistance is at $20.40, followed by $21.70, $22.30 and higher respectively.

3. The structure indicates that Silver could possibly break higher only if $19.00 levels remain intact. A break below $19.00 would be extremely bearish for the metal.

Trading recommendations:

Hold long positions, do not initiate fresh longs, stop is at $18.90, target is open.

Good luck!

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Technical analysis of Gold for April 24, 2014 Trend News

Technical outlook and chart setups:

1. Gold is in its 4th straight session trading within the $1,277.00/85.00 region. Indecisive candles are being produced at the moment leaving room for either directional trades. Looking into the overall setup, bulls are favored to remain in control till prices stay above $1,277.00 levels for now.

2. Support is at $1,230.00/40.00 levels, followed by $1,210.00 and lower, while resistance is at $1,330.00 and $1,388.00 respectively for now.

3. The structure indicates that Gold could resume rally any moment but prices should remain above $1,277.00. A break below, would delay matters further.

Trading recommendations:

Stay long, stop is at $1,277.00, target is open.

Good luck!

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

T

Technical outlook and chart setups:

1. The EUR/JPY remains unchanged since yesterday, around 141.50 levels. Please note that the pair is still testing the support line and a break below would bring back bears in picture. On the other hand, a bullish reversal would see at least 142.50 levels on the higher side. A break above 143.50 would be required to confirm that bulls would stay in control.

2. Support is at 140.00 (intermediary), followed by 138.50, 136.00 and 134.00 while resistance is at 143.50/144.00 and 145.50 respectively.

3. The structure indicates that EUR/JPY needs to either break below 140.00 or above 143.50 to confirm the next big move. Probability look to be on the lower side.

Trade recommendations:

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

Good luck!

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

Technical outlook and chart setups:

1. The GBP/CHF pair is seen to be pulling back, after taking out resistance at 1.4850/60. Please note that bears would possibly remain in control till at least 1.4650/80 levels, which is confluence of fibonacci 0.50 retracement and trend line. A bullish bounce there should be bought.

2. Support is seen at 1.4630/00, followed by 1.4500/1.4450, 1.4350, 1.4200 and lower, while resistance is seen at 1.4950 and 1.5120 respectively.

3. The chart setup indicated that GBP/CHF pair should resume its rally at intermediary trendline support around 1.4600/30 levels. On the flip side, if the support line breaks, the pair might be heading south.

Trading recommendations:

Flat for now. Looking to buy around 1.46 on a bounce.

Good luck!

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

EUR/USD: This is a sideways market. The EUR/USD is currently trading in a range and therefore short-term targets are being considered. Right now, one may consider going short at the resistance level of 1.3850 and going long at the support level of 1.3800, with only a stop of about 50 pips. However, a protracted directional movement is expected soon in the market.

USD/CHF: This pair remains a bull market and it would remain so as long as the price is above the support level at 0.8800. Therefore, it could still be safe to admit that the current pullback in the market is an opportunity to go long. The Williams’ % Range is almost going into the oversold territory – a good bargain for the bulls.

GBP/USD: This currency trading instrument still has a bullish outlook on it, in spite of the fact that the RSI period 14 is below the level 50. The bullish outlook remains logical, unless the price closes below the EMA 56. The fundamental figures coming out today would have some impact on the market.

USD/JPY: The bullish bias on this market is now under threat; plus it is not yet rational to seek short trades because there is no Bearish Confirmation Pattern in the chart. It would be advisable to stay out of this market until there is an established bias – either in favor of the bulls or the bears.

EUR/JPY: Unlike the USD/JPY, this cross is in a bull market. The Bullish Confirmation Pattern here is valid and it is assumed that when the price moves seriously, it would be northward. The next price target is the supply zone at 142.00.

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#USDX technical analysis for April 24, 2014 Trend News

The Dollar index does not show any sign of upward reversal. The Dollar index remains below short-term resistance at 80 and inside the Ichimoku cloud of the 4 hour chart. Price was rejcted at 50% Fibonacci retracement. This makes me believe that more downside is to be expected. Short-term resistance is found at 80.10 and short-term support, at 79.60.

This sideways consolidation that is taking place for a couple of days will soon end and I believe that there are more chances to see the index challenge 79.20 than breaking above 80.20. Currently, we remain neutral as price remains inside the cloud.

The long-term view remains bearish as shown in the daily chart. Price is below the Ichimoku cloud. Price got rejected at the blue downward sloping trend line and despite the double bottom at 79.20, I believe there are more chances that these lows are going to be broken soon. Long-term trend remains down as long as the index is below 80.60 and 81.30. Downside targets are 78.50 and 77. Downward acceleration will come once 79.20 support is broken. Trend will reverse upwards only if 81.30-.40 is broken.

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Gold technical analysis for April 24, 2014 Trend News

Gold price is holding above short-term support at $1,275 but does not make any upward break out. Gold price remains inside the short-term downward sloping trend channel and it cannot break above the channel resistance at $1,290. If price remains inside the channel, it will accelerate downwards when support at $1,275 fails.

The trend remains down. Price is just above the short-term support so betting against the support before it is broken is very dangerous. If support fails, then we should bet on the downside with $1,250-$1,200 target. Short-term resistance is found at $1,290 where the channel boundaries are and at $1,300 where the Ichimoku cloud is.

The long-term view remains unchanged. The scenario where wave 2 has ended at $1,331 is gaining more chances every day that we do not see an upward bounce above $1,300. Long-term view remains bearish.

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

Overview :

• The weekly pivot point of the EUR/USD pair has set at the level of 1.3820. Also, the daily pivot point set at the 1.3820 price today and the price now is around this key level. Consequently, the market has still been calling for a rally because the price has set above the key level since yesterday. Accordingly, if the trend fails to close below the level of 1.3820, then it will be a good opportunity to buy above the level of 1.3820 with the first target at 1.3663 (this level is going to represent a double top), then it will be continued in uptrend towards 1.3894 in order to test the weekly resistance 1 on April 24, 2014. At the same time, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. As a result, the best location to set your stop loss should be placed below the level of 1.3789. It should be noted that the price of 1.3789 is representing the double bottom.

Intraday technical levels :

Date and Time: 24/04/2014 10:03

Pair: EUR/USD

• R3: 1.3901


• R2: 1.3878


• R1: 1.3846


• PP: 1.3823


• S1: 1.3791


• S2: 1.3768


• S3: 1.3736

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

Overview :

• Due to the previous events, the price of USD/CHF pair is still moving between the price of 0.8860 and the 0.8812 price. Additionally, it should be noted that the the level of 0.8812 is representing the weekly pivot point. So, the psychological level has set at the 0.8812 price today. Therefore, sell deals are recommended below the 0.8812 level with targets at the level of 0.8787 in order to form a double bottom at this level in H1 chart. Moreover, the price of the USD/CHF pair is going to try break the weekly support 1 at 0.8787 to call for the bearish market below 0.8787 on April 24, 2014. Consequently, the price will be continued towards the level of 0.8740. On the other hand, the stop loss should always be in account, thereupon it will of the wisdom to set your stop loss at the 0.8873 price.

Notes :

• Minor support will set at the price of 0.8787.


• Major support has already set at 0.8740.


• We expect a range of 60 pips today.

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

Today's Support and Resistance levels:

R3: 1.6153

R2: 1.6100

R1: 1.6076

Current spot: 1.6038

S1: 1.6000

S2: 1.5965

S3: 1.5927

Technical summary:

The triangle consolidation is now in its d-leg, the ideal target for this wave is near 1.5965, but it could move lower towards 1.5933 before the final e wave takes over for a minor rally towards 1.6044. Once this triangle consolidation finally comes to an end, we will be looking for a thrust out of the triangle to the downside for a decline towards 1.5533 to end the major decline from August 2013.

Trading receommendation:

Stay short from 1.6049 with a stop and revers at 1.6185.

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



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

Today's Support and Resistance levels:

R3: 141.84

R2: 141.79

R1: 141.49

Current spot: 141.46

S1: 141.21

S2: 140.98

S3: 140.65

Technical summary:

Support at 141.23 protected the downside for yet another high at 142.00, but the following decline does look impulsive and it should just be a matter of time before support at 141.23 is broken clearly for a continuation lower towards 136.33. In the short term we could see a move higher towards the 141.79 - 141.84 area, as long as minor support at 141.30 protects the downside, but once this minor support is broken, we will be looking for an acceleration lower. Even support at 141.23 should be no match next time it is tested.

Trading recommendation:

Stay short in EUR from 141.63 and keep your stop at 143.50 for now.

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 April 24, 2014 . Thanks for your support on Elliott wave analysis of EUR/JPY for April 24, 2014