Technical analysis of gold for may 13, 2014 Trend News

Gold
All eyes are on today's US core retail sales and retail sales. We expect the indicator to rise at solid pace. The sales growth is likely to be above 0.4%. In yesterday's session Gold was supported by geo-political tensions. The SPDR gold fell to 780.46 tonnes from 782.80 tonnes.

In yesterday's session the metal again hold the parallel support at $1,277 levels. The trading pattern was framed between $1,277-1304.70 levels. The RSI in the weekly chart is still showing the positive direction. The weekly key supports were placed at $1,285 and $1,277 levels. On the upside, resistance levels were placed at $1,300 and $1,315.

The metal was unable to close above the 1,300 level and it was a bearish view. In yesterday's trading session, the metal found support below the trendline in the daily chart. On the upside, the metal has strong resistance level at $1,300. Daily close is seen above it. The bulls are likely to gain some strength and push up to $1,$305 and $1,311 (50daily SMA). A medium-term reversal is expected to take place once the metal closes above the 50SMA ($1,311) so that it can move up to $1,315,$1,320 and $1,325 levels. On the downside, if the metal breaks the multi support level of $1,277, it will drift up to $1,273, $1,270, $1,268 and $1,260 levels. If it closes below the $1,277 level, we expect the metal it to drift all the way to $1,260, $1,245 and $1,213 levels.

Currently, the metal is trading at $1,295.20 in Asia's trading session. It is facing strong resistance at $1,295.70 (hourly 50SMA). The hourly Stochastics indicating another downfall to $1,292.10, $1,290.70 and $1,287.70. Below the $1,290.70, it is seen to extend its fall to $1,284.40, $1,280 levels. However, if the metal trades above the 50SMA $1,295.70, it will zoom up to $1,297.40, $1,300.40, $1,305, $1,312.80 and $1,315 levels.

Recommendations-

Sell below $1,294.40

Buy above $1,297.50

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EUR/USD medium-term forecast and intraday recommendations for May 13, 2014 Trend News

EUR/USD
The pair has been in a downtrend from 1.399 levels. In the weekly chart, the pair broke the support trend line and closed below it. This week the pair opened and was trading below the lower trendline, which is bearish. However, it failed to break the previous week's low, which is a bit positive sign this week. This week's key level was placed at 1.3746 (last week's low). Once the pair breaks this level, it will rise to 1.3696 and 1.367 levels. This is an inital support which will act as a short-term trend reversal level. On the bear front , if the pair breaks the 1.367 level, the trading in May will become rough in coming sessions, thus attracting the lower targets at 1.3536 (50weekly SMA), 1.3480 and 1.34 (200weekly EMA).

Weekly key level- 1.3746 support, 1.3825 resistance

Monthly key level- 1.367 support, 1.40 resistance

For this week May of 13-16, the upside resistance was placed at 1.3825 (50daily SMA). Currently, the pair is trading below it, and for 2 days in a row the pair closed below the 50SMA, which is a highly bearish indicator. The bulls will take charge provided that EUR/USD closes above the 50SMA. To sell on the rally is the best strategy.

Intraday
The pair has been trading in a range between 1.3746-1.3775. It opened on a bull note at 1.3759. The RSI in the h4 chart is indicating that the pair is likely to pull back from the oversold levels. EUR/USD has buyers zone at 1.3737 level and below. So it is seen to fall to 1.37 and 1.3673. On the upside, the inital resistance level is placed at 1.3775 (yesterday's high, April 30 low and previous swing low). The bulls seem to be back on track only above this key level. Having crossed it, the pair is likely to fly up to the 1.3825 level, which is the next crucial level. First, the pair is expected to fall down before further moving up.

Recommendations- cmp 1.3758

Safe traders buy above 1.3775 targets 1.38 and 1.3825

Sell below 1.3737 targets 1.37 and 1.367

Buying on dip is the best strategy for 1-2 days

Adopt a strategy and trade safe.

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Technical analysis of EUR/USD for May 13, 2014 Trend News

When the European market opens, some economic news will be released such as German WPI m/m, German ZEW Economic Sentiment, and ZEW Economic Sentiment.The US will release its NFIB Small Business Index, Core Retail Sales m/m, Retail Sales m/m, Import Prices m/m, Business Inventories m/m, so amid the reports, EUR/USD will move low to medium volatility during this day.

Today's technical levels:

Breakout BUY Level: 1.3822.

Strong Resistance:1.3813.

Original Resistance: 1.3800.

Inner Sell Area: 1.3787.

Target Inner Area: 1.3754.

Inner Buy Area: 1.3721.

Original Support: 1.3708.

Strong Support: 1.3695.

Breakout SELL Level: 1.3686.

Description:

Today EUR/USD has support and resistance at 1.3708 and 1.3800. The rate is accompanied by strong support at 1.3695 and by 1.3813 as strong resistance.

If EUR/USD breaks out and closes below the 1.3686 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3822 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 1.3721 and a SELL position at 1.3787. In this case both targets should be placed at the level of 1.3754.

Best regards,
Arief Makmur
Official Analyst of InstaForexGroup

InstaForex Group http://instaforex.com

email: Arief.jakarta@indo.instaforex.com

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

My profile: http://www.mt5.com/forex_analysis_award/profile/index/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 May 13, 2014 Trend News

In Asia, Japan will release the M2 Money Stock y/y, and 30-y Bond Auction. Meanwhile, the US will unveil some economic data such as NFIB Small Business Index, Core Retail Sales m/m, Retail Sales m/m, Import Prices m/m, and Business Inventories m/m. So there is a big probability the USD/JPY will move with low volatility today.

Today's technical levels:

Resistance. 3: 102.73.

Resistance. 2: 102.53.

Resistance. 1: 102.33.

Support. 1: 102.07.

Support. 2: 101.87.

Support. 3: 101.67.

Description:
Please, pay attention to the levels of support 3 (101.67) and resistance 3 (102.73). 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 InstaForexGroup

InstaForex Group http://instaforex.com

email: Arief.jakarta@indo.instaforex.com

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

My profile: http://www.mt5.com/forex_analysis_award/profile/index/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 USDX for May 13, 2014 Trend News

Daily chart: The USDX has made corrective movements during yesterday's session in an effort to decrease of overbought levels. However, it is still very likely that the USDX rises to the resistance level of 80.11. If the USDX does make a breakout at that level, it is likely would be expected to rise to the level of 80.62. The MACD indicator is in positive territory.

H4 chart: The USDX has made a bullish rebound on the trend line that is located near to the 79.75 level and now the USDX is trying to make a breakout on the resistance level of 79.93. For now, caution when placing buy orders is recommended, as these are very strong resistance levels. The MACD indicator is in positive territory.

H1 chart: The USDX remains above the support level of 79.88. For now, the USDX could perform sideways movements in favor of the bullish trend, although the USDX could conduct a breakout on the resistance level of 80.15. If successful, it is expected to rise to the level of 80.35. The MACD indicator is in neutral 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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Technical analysis of USD/JPY for May 12, 2014 Trend News

Overview:

USD/JPY is expected to trade in higher range. It is underpinned by the broadly stronger dollar undertone (ICE spot dollar index last 79.86 versus 79.43 early Friday) on higher U.S. Treasury yields, Wall Street gains Friday (DJIA finished up 0.2% at record-high closing of 16,583.34), bigger-than-expected 1.1% rise in U.S. March wholesale inventories (versus +0.5% forecast). USD/JPY is also supported by the demand from Japan importers. But USD/JPY gains are tempered by the Japan exporter sales and concerns over the crisis in Ukraine.

Technical сomment:
Daily chart is mixed as MACD is bearish, five-day moving average is below 15-day MA and is declining; but stochastics is turning bullish near oversold zone.

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 102.20 and the second target at 102.40. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 101.60. A breach of this target will push the pair further downwards and one may expect the second target at 101.40. The pivot point is at 101.75.

Resistance levels:

102.20

102.40

102.80

Support levels:

101.60

101.40

101

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Technical analysis of USD/CHF for May 12, 2014 Trend News

Overview:

USD/CHF is expected to consolidate with bullish bias after hitting one-month high on 0.8873 on Friday. It is underpinned by the broadly stronger dollar undertone and contagion from weak EUR on CHF. Daily chart is positive-biased as MACD and stochastics is bullish.

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 0.89 and the second target at 0.8930. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8830. A breach of this target will push the pair further downwards and one may expect the second target at 0.8800. The pivot point is at 0.8850.

Resistance levels:

0.89

0.8930

0.8960

Support levels:

0.8830

0.88

0.8775

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Technical analysis of NZD/USD for May 12, 2014 Trend News

Overview:

NZD/USD is expected to consolidate with bearish bias after hitting one-week low at 0.8602 on Friday. It is undermined by the broadly stronger dollar undertone, weaker commodity prices and continued impact from RBNZ Gov. Wheeler's comment that a high Kiwi exchange rate in face of weakening fundamentals may prompt RBNZ to intervene to sell NZD and Kiwi sales on buoyant AUD/NZD cross. But NZD/USD losses are tempered by the diminished concerns over China's economy after upbeat China April trade data. Daily chart is negative-biased as stochastics is falling from overbought zone, MACD is staging bearish crossover against its exponential moving average.

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 0.8595. A breach of this target will move the pair further downwards to 0.8545. The pivot point stands at 0.8670. In case the price moves in the opposite direction and bounces back from the 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 0.8710 and the second target at 0.8745.

Resistance levels:

0.8710

0.8745

0.8780

Support levels:

0.8595

0.8545

0.8525

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Gold analysis for May 12, 2014 Trend News

Overview

Since our last analysis, gold has been trading downwards. As we expected, the price tested and rejected our support level at 1,277.50. As you can see in the chart, our support level is held at 1,277.00 successfully, and that caused price to start upward movement and test the level of 1,303.58. According to the 4H timeframe, we can observe demand on volume above the average, which is a sign that selling at this stage looks risky. According to the daily chart (Friday bar), we can observe low volume doji candle, which is a sign for indecision. I found potential resistance level at the price of 1,304.00 (swing low). If the price breaks the level of 1,304.00 on higher volume, we may see possible tetsting the level of 1,315.00 (previous swing high).

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,288.33

R2: 1,291.07

R3: 1,295.50

Support levels:

S1: 1,279.47

S2: 1,276.73

S3: 1,272.30

Trading recommendation: Trading the metal, be careful with short-term selling since our support level at the price of 1,277.00 held successfully

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Technical analysis of GBPJPY for May 12, 2014 Trend News

Overview:
GBP/JPY is expected to consolidate with bearish bias. It is undermined by the weak euro sentiment and Japan exporter sales. But GBP/JPY losses are tempered by the demand from Japan importers. Daily chart is negative-biased as MACD and stochastics are bearish, five-day moving average is below 15-day MA and is declining.

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 171.75. A breach of this target will move the pair further downwards to 171.40. The pivot point stands at 172.50. 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 173 and the second target at 0.8805173.30.

Resistance levels:

173

173.30

173.50

Support levels:

171.75

171.40

171

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EUR/NZD analysis for May 12, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading downwards, as we expected, the price tested the level of 1.5932 on average volume, according to the daily chart. We can observe low volume on the market so we are waiting for larger movement . Our Fibonacci retracement 61.8% at the price of 1.6122 held successfully and that caused price to go down. We saw strong rejection from our Fibonacci level and buying at this stage looks very risky. First support level is at 1.5865 (previous swing low). According to the 4H timeframe, we can observe weak demand on the volume below the average. Be careful with buying and watch for selling opportunities.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6033

R2: 1.6060

R3: 1.6105

Support levels:

S1: 1.5943

S2 : 1.5916

S3: 1.5871

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

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Technical analysis of USD/CAD for May 12, 2014 Trend News

General overview for 12/05/2014 10:10 CET

The downside impulsive wave progression has not been finished yet and lower prices are expected after the corrective cycle in wave 4 red is completed. Currently, this pair is hovering at weekly pivot level, under the golden trendline. Only the upside breakout above this trendline would be a first clue that the wave progression might be invalidated as the invalidation line is at the level of 1.0947. Otherwise, lower prices might come as soon as the intraday support at the level of 1.0887 is broken. Next support would be at the level of 1.0833 and if this one is broken as well , then the last swing low will be put to the test.

Support/Resistance:

1.0986 - WR1

1.0947 - Invalidation Line

1.0915 - Intraday Resistance

1.0898 - Weekly Pivot

1.0887 - Intraday Support

1.0833 - Technical Support

1.0809 - WS1

Trading recommendations:

Daytraders might consider opening intraday short positions from the level of 1.0885 with SL above the level of 1.0915 and TP at the level of 1.0833.

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Technical analysis of Gold for May 12, 2014 Trend News

Technical outlook and chart setups:

1. Gold has bounced off the immediate support trendline around $1,280.00 levels as seen here. Also the 0.786 fibonacci levels of the recent rally from $1,275.00 to $1,314.00 levels pass through the same region. The metal looks poised to rally towards $1,330.00 and higher for now. Recommendations are to hold long positions, risk remains at $1,270.00.

2. Support is at $1,270.00, followed by $1,230.00/40.00, $1,210.00 and lower, while resistance is at $1,330.00, followed by $1,388.00 and higher respectively.

3. The structure indicates that Gold might have formed bottom around $1,270 levels for now and is ready to stage a rally towards $1,330.00, $1,3350.00 and higher from here on.

Trading recommendations:

Remain long for now, stop below $1,270.00, target is open.

Good luck!

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Technical analysis of EUR/JPY for May 12, 2014 Trend News

General overview for 12/05/2014 09:40 CET

A five wave impulsive structure labeled as wave (iii) green looks finished and market will be correcting this move to the upside now. The key level for this corrective cycle is at the previous wave 4 red area what is 38%Fibo retracement level is as well. The corrective structure might have a different shape but any breakout below the last low at the level of 139.90 would be the first clue signaling that the top for wave 4 red is in place and the market is developing the last wave to the downside before any meaningful correction happens. Please notice that an alternate count indicates that more impulsive wave progression is possible in case wave (iii) wouldn't have been finished yet. Then much lower level in this pair could be seen.

Support/Resistance:

142.27 - Wave 2 red high

141.35 - WR1

140.96 - 141.06 - Supply Zone

140.02 - Key Level

140.61 - Weekly Pivot

140.50 - Intraday Resistance

140.16 - Intraday Support

139.90 - Wave (iii) green low

139.25 - Wave 5 red target

Trading recommendations:

Swing traders should still keep short positions open as the current impulsive wave progression to the downside has not been finished yet.

Daytraders might consider opening intraday short positions from the level of 139.88 with SL above the level of 140.51 and TP at the level of 139.25.

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Technical analysis of Silver for May 12, 2014 Trend News

Technical outlook and chart analysis:

1. Silver bounces off as expected and discussed earlier from sub $19.00 levels again. Bulls should remain in control for now and the metal should be targeting $20.40 and higher as shown here. Recommendations are to remain long, also look to buy more on dips from here on. $18.90 levels should hold for now.

2. Support is at $18.90, followed by $18.70 and lower, while resistance is at $19.90/$20.00 levels, followed by $20.40, $21.70, $22.30 and higher respectively.

3. The structure indicates that Silver has probably formed bottom around $18.90/19.00 levels, and is ready to rally towards fresh intermediary highs as seen here. Buying on dips should be the favored trading strategy.

Trading recommendations:

Remain long, risk at $18.30/50, target open.

Good luck!

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Technical analysis of EUR/JPY for May 12, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair seems to be testing its lower support range around sub 140.00 levels at the moment. A break below 140.00 could confirm that the pair is in control of bears and would continue drifting lower, unfolding a larger correction. Recommendations are to remain flat for now and watch out for the reaction at 140.00 levels.

2. Support is at 140.00, followed by 138.50, 136.00 and lower while resistance is at 142.50, 143.50/70. 144.00 and 145.50 respectively.

3. The structure indicates that EUR/JPY could turn bullish only if the 140.00 level persists, and the pair could rally again up to 143.00 levels at least.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of GBP/CHF for May 12, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has raised through the 1.4950 levels today in the opening hours and pulled back sharply. The pair stopped us out at 1.4960. Still, recommendations are to look for a top and reversal from current levels. The pair is expected to retrace towards 1.4600/50 levels from current levels.

2. Support is at 1.4750/60 followed by 1.4630/50, 1.4550, 1.4450 and lower, while resistance is at 1.4975/80, followed by 1.5120 respectively.

3. The structure indicates that the pair has completed its rally that begun from 1.4450 levels earlier. It could potentially fall back in a corrective manner towards the 1.4600/50 levels before rallying further.

Trading recommendations:

Look to enter short positions again, risk is at 1.5120, target is open. More conservative approach would be to remain flat for now, and look to buy lower.

Good luck!

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#USDX Technical analysis for May 12, 2014 Trend News

The Dollar index has broken above short-term resistance levels and has made a short-term trend reversal. Currently, it is trading at overbought levels so a pullback towards 79.70-79.60 is quite possible today.

In the 4 hour chart above, you can see how price has broken above the Ichimoku cloud resistance and the downward sloping trend line. Support is at 79.70 where previous resistance was found. I expect to see a pullback today in the Dollar index. Yet, I believe there are increased chances we are in a bigger longer-term trend reversal from 79.

In the daily chart above, you can see how the short-term trend reversal has been challenging the daily Ichimoku cloud resistance. The downward sloping trendline resistance that starts above 84 and comes throught the peak at 81.50 is now broken. However, strong resistance is found near 80-80.40 as the Ichimoku cloud stands there. Bulls will need to break above that area to confirm a larger trend reversal.

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Technical analysis of Gold for May 12, 2014 Trend News

Gold price has broken below the upward sloping trend line since it continues to consolidate sideways around $1,290. As shown in the 4 hour chart below, Gold price is now below the Ichimoku cloud and below the trend line. Early today, it also challenged the lower support area at $1,275.

Gold bulls will need to break above $1,295. There is a short-term strong resistance between $1,295-$1,304. The current technical picture favors bears as price is below resistance levels and the next support is found at $1,275-$1,270 area.

As long as Gold price does not make a daily close below $1,275 or an intraday move below $1,268, then we could still expect an upward bounce towards $1,330 and above towards the 61.8% Fibonacci retracement. Once this important support is broken, we should expect it to move towards $1,250-$1,200.

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Technical analysis of USD/CHF for May 12, 2014 Trend News

During this week, traders will eye on the retail sales, ZEW economic expectations, PPI data. The pair indicating a buy on dips strategy for positional basis. In Asia's trading session, the pair is trading at 0.8871. On positional basis, the pair has strong supports at 0.8815 and 0.8776. If it reaks below the 0.8776 level, it will fall up to 0.8744 which is a crucial support for bulls to hold. On the up side, 0.8880 is the strong resistance level above this 0.8952, and 0.90 is the positional targets.

For intraday and STBT basis, the pair is in the complete sell mode. Traders can sell at cmp 0.8870 or even at the higher level. It's a complete mode for the pair during intraday session. We expect the pair will fall up to 0.8850, 0.8815 and 0.8790 levels. The hourly momentum indicators favors to sell side.

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Technical analysis of EUR/USD for May 12, 2014 Trend News

When the European market opens, there is no economic news will be released today.The US only will release its Federal Budget Balance, so amid the reports, EUR/USD will move low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3827.

Strong Resistance:1.3818.

Original Resistance: 1.3805.

Inner Sell Area: 1.3792.

Target Inner Area: 1.3759.

Inner Buy Area: 1.3726.

Original Support: 1.3713.

Strong Support: 1.3700.

Breakout SELL Level: 1.3691.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3713 and 1.3805. The rate is accompanied by strong support at 1.3700 and by 1.3818 as strong resistance.

If EUR/USD breaks out and closes below the 1.3691 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3827 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 1.3726 and at 1.3792, a SELL position. In this case both targets should be placed at the level of 1.3759.

Best regards, Arief Makmur Official Analyst of InstaForexGroup InstaForex Group http://instaforex.com

My Profile: http://www.mt5.com/forex_analysis_award/profile/index/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 EUR/USD for May 12, 2014 . Thanks for your support on Technical analysis of EUR/USD for May 12, 2014

Technical analysis of USD/JPY for May 12, 2014 Trend News

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In Asia, Japan will release the current account data, Bank lending y/y, economy watchers sentiment and the US will release some economic data such as US-Federal Budget Balance. So there is a big probability USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.50.

Resistance. 2: 102.30.

Resistance. 1: 102.10.

Support. 1: 101.85.

Support. 2: 101.65.

Support. 3: 101.45.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.45) and resistance 3 (102.50). 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 InstaForexGroup InstaForex Group http://instaforex.com email: Arief.jakarta@indo.instaforex.com

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

My Profile: http://www.mt5.com/forex_analysis_award/profile/index/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 May 12, 2014 . Thanks for your support on Technical analysis of USD/JPY for May 12, 2014

Technical analysis of GBP/USD for May 12, 2014 Trend News

During this week, trader's will eye on Wednesday's economic data: unemployment rate, BoE Governor Carney speaks and inflation report. Technically the pair gave a break down indication on Friday's session. The journey to down side is paused by hourly momentum indicators. The pair is in an oversold condition. We expect the pair will shift its upwards journey towards 1.6921.

On the down side, the pair has strong support at 1.6832 and 1.682 levels.The major panic will start only below 1.682 for 1.6763, 1.6720 and 1.666 levels. The RSI in the daily chart indicates sell on the rally. If a day closes below the 1.6720 level, the real problem will start for bulls.

Intraday-

In Asia's trading session, the pair opened its trading at opened low strategy. We expect the pair to move upwards from the current levels towards 1.6870 initially, once crosses, it will fly up to 1.6890 and 1.69. On the downside, 1.6826, 1.6793, 1.678 are the strong supports.

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EUR/AUD intraday technical levels and trading recommendations for May 12, 2014 Trend News

On March 24, by breaking down 1.5175, the Double Top pattern could not only achieve its projection target at 1.4820-1.4800, but it also confirmed a bigger Head and Shoulders pattern.

The bears managed to break down 1.4950 corresponding to 50% Fibonacci level once before (the nearest support level). This exposed the price level of 1.4750 (61.8% Fibonacci) on March 10.

As expected, the bears failed to fixate below 1.4750 on a daily basis. This hindered further bearish progression giving some time for a sideway consolidation for retesting of 1.4945 (50% Fibonacci).

After a few days of indecision around 1.4750, the bulls initiated a bullish spike off 1.4725, and finally they were able to push above the upper limit of the 4H congestion zone.

Two bullish spikes above 1.4950 (50% Fibonacci level on the daily chart) were executed. However, the bulls fail to pursue the bullish breakout leading to its failure.

On the other hand, the lower limit of the expanding wedge located around 1.4850 failed to provide enough support for the pair. Instead, bearish breakdown took place pushing towards 1.4730 (61.8% Fibonacci level) which was broken down as well as depicted on the chart.

Overall, the daily chart suggests bearish tendency especially if the daily candlesticks maintain closures below 1.4740.

On the other hand, price zone above 1.4650-1.4700 should be watched for price action. A recent prominent low was established around 1.4659 on May 10.

Bullish reaction may be expressed around these levels to offer a valid BUY entry with stop loss as daily closure below 1.4660.

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Forecast and intraday analysis of EUR/USD for May 12, 2014 Trend News

Today trader's eye is on tomorrow's economic event: German ZEW economic sentiment. In the daily chart, the pair is forming a wedge. We suppose a big fall has started that should go on for some time. 1.379 and 1.367 are the first two levels to break to confirm that the wedge has led to a trend reversal. In the weekly chart, the pair gave a breakdown from 11 months trading pattern. Last week's trading pattern gave a breakdown at the lower trend line shown in the below chart indicating a downside target at 1.3696 and 1.367.

In the daily chart, the RSI is indicating a breakdown for its current trend forming last 2 months. During Friday's session, the pair creates a huge bearish sign.

Bearish views-

In the weekly chart, the pair breaks and closes below the 10 months lower trend line.

In the daily chart, the pair breaks and closes below the 2 months lower trend line.

In the daily chart, the pair breaks and closes below the 50 day SMA.

Intraday-

The pair opened its Asia's trading session in a bullish mode for intraday and BTST purpose. The hourly momentum indicators give a pull back rally sign. As of now, the pair is opened in low strategy, we expect the pair will be pulled back to 1.3774, 1.38 and 1.3830 levels.

On the down side, the pair has supports at 1.3737, 1.37 and 1.3673 levels.

Recommendations- cmp 1.3760

Buy at cmp or safe traders can buy above 1.3762

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Daily analysis of USDX for May 12, 2014 Trend News

Daily chart: The USDX has made a bullish consolidation above the level of 79.50, so that the next target for the USDX is the resistance level of 80.11. However, the bullish momentum could weaken when the USDX touches the level of 80.11. On the other hand, if the USDX does make a bearish rebound at that level, we would be expected to fall to the level of 79.19. The MACD indicator is in positive territory.

H4 chart: The USDX remains above the 200-day moving average which is expected to begin forming a bullish pattern above that level. If the USDX does make a breakout at the resistance level of 79.93, it's expected to rise to the level of 80.09. On the other hand, USDX is likely to move in a low range during the first days of the week. The MACD indicator is in positive territory.

H1 chart: The USDX has found resistance at the 79.88 level, where the USDX has formed a fractal, which could weaken the bullish bias for today's session. If this happens, it is expected that the USDX will fall to the support level of 79.64. However, we recommend to be cautious when placing sell orders in the medium term. 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 79.88, take profit is at 80.15, and stop loss is at 79.61.

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