Weekly forecast and daily recommendations for EUR/USD for May 26-30, 2014 Trend News

EUR/USD

Traders will eye the European elections, ECB's President Mr. Draghi speech, French consumer spending, German unemployment change, Spanish housing price index and German retail sales. These are the key economic events for the week of May 26-30.

The pair has been in a down trend for 3 weeks, completely trading in a bearish waves making lower lows and lower highs. There is a little hope for bulls at 1.36 levels (50-week SMA) to hold; if the pair breaks below this level, it will fall to 1.3561 levels. This week is very crucial for bulls and bears as well. The weekly key level was placed at 1.36. If this week it closes below it, the bear influence will extend up to 1.3476 and 1.34 levels. If the level of 1.36 holds, then it will pull back to 1.3733 and 1.3775 levels from the current oversold levels.

The weekly key support level is 1.36, resistance is at 1.3733.

In Asia's trading session, the pair again touched the 200-day EMA, pulled back and closed above this. We expect the major fall will take place only after a close below the 200-day EMA. If the pair breaks and sustains below 1.36, it will fall to 1.3585 and 1.3561 in a day or 2. On the up side, if it holds 1.36, then it will pull back to 1.3657, 1.3687 and 1.3733 levels. The daily RSI has been consolidating at oversold levels, which can save the bulls to perform pullback activity.

In the H4 chart, the pair broke the 50-hour SMA at 1.3782, from there till now, it didn't allow the pair to cross above this. Currently, it is located at 1.3688. In Asia's trading session, the pair is trading at 1.3628. On the up side, initial resistance is at 1.3641, above this it can fly up to 1.3655, and the crucial resistance is placed at 1.3688 levels. On the down side, the immediate support level is at 1.3614, below this, 1.36 is strong support. Once it breaks below 1.36, it will fall all the way to 1.3561. The hourly momentum oscillators favors to buy side.

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Technical analysis of Silver for May 26, 2014 Trend News

Technical outlook and chart setups:

1. Silver is seen to be trading in a consolidation channel as seen here, just below the line of support. Broader range is between $18.75 and $20.00 levels for now. At the moment, the metal has bounced off support from sub $19.00 levels and moving towards $20.00 levels if not higher.

2. Support is seen at $19.00, followed by $18.75/90, $18.45/50, while resistance is at $20.00/40, followed by $21.70, $22.30 respectively.

3. The structure indicates that Silver could resume rally towards $20.00/40 from current levels. Potentially it is possible to rally till $21.30/40 levels in this leg up.

Trading recommendations:

Remain long, stop below $18.50, target is open. OR remain flat.

Good luck!

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Technical analysis of Gold for May 26, 2014 Trend News

Technical outlook and chart setups:

1. Gold is still trading within the consolidation range between $1,285.00/90.00 and $1,301.00/05.00 respectively. After bouncing off the lower boundary at $1,286.00 levels on Friday, the metal is trading above $1,291.00 at the moment. Minimum implications from here is towards $1,305.00/10.00 levels.

2. Support is seen at $1,280.00, followed by $1,270.00 and lower, while resistance is seen at $1,310.00, followed by $1,330.00, $1,350.00/60.00 and higher respectively.

3. The structure indicates that Gold is expected to rally from here towards at least $1,305.00/10.00 if not higher.

Trading recommendations:

Remain long, stop at $1,280.00, target is open OR Remain flat.

Good luck!

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Technical analysis of EUR/USD for May 26, 2014 Trend News

When the European market opens, some economic news will be released such as GfK German Consumer Climate, ECB President Draghi Speech.The US will not release any economic data because of a holiday, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3692.

Strong Resistance:1.3684.

Original Resistance: 1.3671.

Inner Sell Area: 1.3658.

Target Inner Area: 1.3626.

Inner Buy Area: 1.3594.

Original Support: 1.3581.

Strong Support: 1.3568.

Breakout SELL Level: 1.3560.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3581 and 1.3671. The rate is accompanied by strong support at 1.3568 and by 1.3684 as strong resistance.

If EUR/USD breaks out and closes below the 1.3560 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3692 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 1.3594 and at 1.3658, a SELL position. In this case both targets should be placed at the level of 1.3626.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group 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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Technical analysis of USD/JPY for May 26, 2014 Trend News

In Asia, Japan will release the Monetary Policy Meeting Minutes and the US will not release any economic data because of the US holiday. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.48.

Resistance. 2: 102.28.

Resistance. 1: 102.08.

Support. 1: 101.83.

Support. 2: 101.63.

Support. 3: 101.43.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.43) and resistance 3 (102.48). 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,

Official Analyst of InstaForex Group 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 26, 2014 Trend News

Daily chart: The USDX rose to the 200-day moving average, where the USDX could make a pullback. However, it is expected that the USDX will rise to the resistance level of 80.62. If the USDX does make a breakout at that level, it would be expected to rise to the level of 81.50. For now, caution should be exercised when placing sell orders. The MACD indicator is in positive territory.

H4 chart: The USDX is trying to consolidate above the 80.35 level. If successful, it is expected to rise to the resistance level of 80.60. However, the USDX has been under strong pressure, so it is advisable to place buy orders only if the USDX makes a breakout at the level of 80.60. The MACD indicator is in positive territory.

H1 chart: The USDX has consolidated above the 80.35 level. Now, it is very likely that the USDX will rise to the resistance level of 80.59. If the USDX does make a breakout at that level, it would be expected to rise to the level of 80.73. On the other hand, if the USDX makes a pullback at the current levels, it's expected to fall to the level of 80.15. The MACD indicator is in negative territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 80.59, take profit is at 80.73, and stop loss is at 80.45.

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Daily analysis of GBP/USD for May 26, 2014 Trend News

Daily chart: The GBP/USD has dropped below the resistance level of 1.6851, after this pair has made a pullback at this level. GBP/USD is likely to fall to the support level of 1.6766, where the bullish trend line is. However, if the pair manages to make a breakout at the support level, it is expected to fall to the level of 1.6663. The MACD indicator is entering neutral territory.

H4 chart: The GBP/USD is finding support at the 1.6822 level where the 200 SMA is located. If the pair manages to make a breakout at that level, it would be expected to fall to the level of 1.6785. However, the GBP/USD could perform a bullish rebound at 200 SMA. MACD is in negative territory.

H1 chart: This pair has consolidated below the control point of forming a bearish pattern, and it is now very likely that the GBP/USD will fall to the support level of 1.6800. If the pair manages to make a breakout at that level, it would be expected to fall to the level of 1.6750. The MACD indicator is entering oversold.

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 1.6850, take profit is at 1.6900, and stop loss is at 1.6800.

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