Technical analysis of EUR/JPY for June 3, 2014 Trend News

General overview for 03/06/2014 08:00 CET

The corrective cycle in the shape of an irregular flat (a)(b)(c) simple correction is about to be finished and the first clue comes with a downside breakout below the level of intraday support at the level of 139.10. This point of view is being supported by diminishing momentum on oscillators and negative divergence on the RSI indicator. Nevertheless, if this corrective cycle will get any more complex, then irregular flat market might move little higher to complete the correction.

Support/Resistance:

139.47 - WR1

139.35 - Intraday Resistance

139.10 - Intraday Support

138.73 - Weekly Pivot

Trading recommendations:

Daytraders might consider opening sell stop orders if the level of 139.10 is broken, with SL above the level of 139.35 and TP at the level of 138.73.

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Technical analysis of CL for June 03, 2014 Trend News

The crude oil took support at the 50-day SMA in yesterday's trading session. On the down side, if the price breaks the 50-day DMA at 101.85, it will go up to 100.98, 100 and 99.70 levels. If it closes below the lower trend line, it will fall to 98.70 and 97.50 levels.

Today the price looks weak below 102.35, it will go for 101.85 for the strong support. On the up side, 102.76 is the inital resistance.

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Forecast of gold for June 03, 2014 Trend News

The metal has been rejecting at 50-week SMA for six weeks. Yesterday it had parallel support at $1,240.70. The oversold momentum indicators in the daily chart hold the metal at $1,240 levels, below $1,240.70 level, it will melt up to $1,237.70, $1,231.30 and $1,217-$1,213 levels. The next fall will take place below $1,240 for $1,237.70, $1,325, $1,233, $1,231.30, $1,220 and $1,217-$1,213 levels. The ECB decision will hurt the gold within the next couple of days. We expect the short-term bottom will be placed between $1,230-$1,217.70 levels. Below $1,217, another deep correction towards $1,180 (classic bottom), $1,150 and $1,100-1,070 levels. On the up side, $1,265 will act as the trend change reversal level.

In the daily and H4 charts, the momentum oscillators are witnessing an oversold levels. If the oscillators start working, then the metal can pull back up to $1,245, sustain above $1,245.50 will take the pair towards $1,250 and $1,251.85 and $1,260 levels.

On the down side, sell again below $1,240 for $1,237.70 and $1,231.30 levels.

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Technical analysis of USD pairs for June 03, 2014 Trend News

USDX

The index moved to 2-month high and it is facing strong resistance at 50-week SMA 80.74, once breaking above the 50-week SMA, it will enter a new phase for 81, 81.30-81.40, 82 and 84 levels. On the down side, the index has strong support at 80.35, below this, 80.20 and 79.90 is the next support levels.

In the daily ad H4 charts, the RSI and Stochastics favor sell side indicating the overbought levels. We expect the index will pause its rally and keep correction mode up to 80.40 and 80 levels. Positional traders please wait for a healthy correction to enter in a dip for bigger targets.

For purely speculators, sell with sl 80.75 and targets at 80.50, 80.42, 80.39, 80.31 and 80.17, maybe even 80.06 and 79.88 levels.

USD/JPY

The pair gave an upside break out from the descending trading pattern and closed above the 50-day SMA. In yesterday's trading session, the pair was paused its rally at 50.0 fib level and as of now, the pair is unable to cross the previous day high at 102.48 level above this, it can fly up to 102.66, 102.78 and 102.85 levels. On the down side, 102.20 is the strong support level below this, the pair looks weak.

For intraday perspective, we expect the pair will take the back seat for the next couple of hours (correction) for 102.14, 102.05, 101.90 levels.

USD/CHF

The pair prepared a base at 0.87 levels and moved towards the resistance levels at daily 50-day SMA and 200-day EMA. For the last couple of times, we recommended to go short with sl 0.90 levels. The daily RSI favors sell side. If a day close above the 0.90 levels, it will move up to 0.9010, 0.9040, 0.905 and 0.9082 levels. If it does not cross 0.90, it will fall to 0.8930, 0.8898 and 0.8860 levels.

For intraday purpose, the pair has an important support at 0.8960 levels.

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Technical analysis of EUR/JPY for June 03, 2014 Trend News

Technical outlook and chart setups:

1. The EURJPY pair has reversed just shy of the fibonacci 0.786 support around 138.00 levels as discussed yesterday. The pair further rallied and is trading close to 139.00 levels as seen here. A push above 139.00 would ensure that bulls are resuming rally towards the potential resistance at 141.00 levels. But before that expect a pullback lower as shown here.

2. Immediate resistance is at 141.00, followed by 142.50/143.00, while supports are spread through 138.00, 136.50, followed by 134.00 and lower respectively.

3. The structure indicates that EURJPY could continue rally and a break above 139.00 levels would confirm the same.

Trading recommendations:

Look to go long on dips.

Good luck!

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Technical analysis of EUR/USD for June 03, 2014 Trend News

When the European market opens, some economic news will be released such as Spanish Unemployment Change, Italian Monthly Unemployment Rate, Italian Quarterly Unemployment Rate, CPI Flash Estimate y/y, Unemployment Rate. The US will release the economic data too such as the Factory Orders m/m, IBD/TIPP Economic Optimism, Total Vehicle Sales, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3661.

Strong Resistance:1.3653.

Original Resistance: 1.3640.

Inner Sell Area: 1.3627.

Target Inner Area: 1.3595.

Inner Buy Area: 1.3563.

Original Support: 1.3550.

Strong Support: 1.3537.

Breakout SELL Level: 1.3529.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3550 and 1.3640. The rate is accompanied by strong support at 1.3537 and by 1.3653 as strong resistance.

If EUR/USD breaks out and closes below the 1.3529 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3661 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 1.3563 and at 1.3627, a SELL position. In this case both targets should be placed at the level of 1.3595.

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.

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Technical analysis of USD/JPY for June 03, 2014 Trend News

In Asia, Japan will release the Monetary Base y/y, Average Cash Earnings y/y, 10-y Bond Auction and the US will release some economic data such as Factory Orders m/m, IBD/TIPP Economic Optimism, Total Vehicle Sales. 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: 102.93.

Resistance. 2: 102.73.

Resistance. 1: 102.53.

Support. 1: 102.28.

Support. 2: 102.07.

Support. 3: 101.87.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.87) and resistance 3 (102.93). 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.

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Technical analysis of GBP/USD and intraday recommendations for June 03, 2014 Trend News

GBP/USD

The cable has been in a down trend from 1.699 levels and has been facing strong resistance zone around the 50-day SMA and was unable to cross the supported trend line. Previous week high and low levels are very crucial this week as well. On a weekly basis, on the upper side, 1.6882 is the inital key resistance level on the downside support level existing at 1.666 (61.8 fib level and April 15 low) levels.

In yesterday's trading session, the pair was restricted in going upwards near the 50-day SMA (1.6778). Until the cable trades below 1.6920, the bears will open the gates for 1.666 and 1.6554 levels. On the up side, if the pair trades above the 1.6782 levels, then there is a change of pull back for 1.6815, 1.6850 and 1.6888 levels. On the down side, if the pair breaks the 1.6725 levels, it will fall up to 1.6715, 1.6690 and 1.666 levels. In the daily charts, the RSI is indicating the sell on the rally strategy.

From a purely speculators perspective, the pair looks weak below 1.6725 until this level holds, it can fly up to 1.6762, 1.6770, 1.6778, 1.68 and 1.6810 levels. The bulls momentum will take place above 1.6762 and it will turn strong above 1.6780 levels. On the down side, if the pair breaks the 1.6725 level, it will travel up to 1.6705, 1.6693 and 1.666 levels.

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Daily analysis of GBP/USD for June 03, 2014 Trend News

Daily chart: The GBP/USD has found resistance at the 1.6766 level and now this pair is trying to complete the formation of a bearish pattern below that level, as the GBP/USD has been in a strong bearish trend from the 1.7000 level. However, if the pair manages to make a breakout at the 1.6766 level, it's expected to rise to the level of 1.6851. The MACD indicator is in negative territory.

H4 chart: The GBP/USD has moved sideways between the 1.6762 and 1.6731 levels in the last hours. However, this pair remains below the 200-day moving average, so the bearish outlook remains very strong on the GBP/USD. However, if the pair manages to make a breakout at the 1.6785 level, it's expected to rise to the level of 1.6822. The MACD indicator is in positive territory.

H1 chart: This pair remains below the 200 SMA and the resistance level of 1.6750. If the pair manages to make a breakout in the support level of 1.6700, it's expected to fall to the level of 1.6629. On the other hand, if the GBP/USD manages to make a breakout at the 1.6750 level, it's expected to rise to the resistance level of 1.6800. The MACD indicator is in neutral territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.6700, take profit is at 1.6629, and stop loss is at 1.6770.

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Intraday technical levels and trading recommendations on EUR/USD for June 2, 2014 Trend News

The price zone 1.3800-1.3880 (dotted on the chart) provided considerable SUPPLY for the EUR/USD pair. This price zone managed to pause the ongoing bullish momentum above the depicted bullish trendline.

Thus, a Double Top reversal pattern is being established with a neckline located at 1.3700 which has already been broken-down during last week's consolidations.

This indicates the dominant bearish momentum with high probability to achieve the reversal pattern projection targets as long as the bears keep defending 1.3700 handle (neckline of the Double Top pattern).

The estimated projection target of this reversal pattern extends down to 1.3470. However, the 4H chart below shows some important levels to meet the pair on its way towards targets.

The recently established bottom around 1.3810 could achieve higher value above 1.3880. The bulls topped at 1.3950. However, these levels corresponded to the upper limit of a bullish channel which applied significant bearish reaction.

A strong corrective movement towards 1.3850 and 1.3800 was executed immediately as expected. This led again towards 1.3770 and cleared the way towards 1.3690 ( previous prominent bottom ).

The next DEMAND level to meet the pair is located around 1.3560 where the previous prominent bottom was established in February.

For the bulls, the price zone of 1.3560-1.3520 may offer a good BUY opportunity with stop loss located below 1.3500. If so, this bullish corrective movement will be targeting at 1.3690-1.3710.

On the other hand, success of the bulls to fixate above 1.3640-1.3650 ( recent broken bottoms ) threatens the bearish sentiment of the market allowing extension of the bullish targets towards 1.3690-1.3700 and possibly 1.3750 where the next demand level is located.

Thus, a bullish breakout above 1.3650 signals a possible bullish position with SL located just below 1.3600 with the previously mentioned bullish targets.

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USD/CAD intraday technical levels and trading recommendations for June 2, 2014 Trend News

The USD/CAD bulls failed to show enough momentum above 1.1200 during the last visit on March 20. The bears took advantage and pushed the pair towards the price zone of 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart).

Although previous daily closure below 1.0920 took place, it didn't take long time to get a bullish engulfing daily candlestick as a bullish reaction on the next day pushed the pair again towards 1.1000.

Later on, the price zone of 1.0875-1.0830 (extending down to 61.8% Fibonacci level and the lower limit of the ongoing movement) provided significant bullish pressure.

The market has shown a significant bullish recovery around 1.0830 (bullish engulfing daily candlestick) aiming to push higher towards 1.0910-1.0950 where the market bullish sentiment was fulfilled around 1.0930.

Bearish fixation below 1.0840 will probably expose 1.0800 then 1.0760 where the lower limit of the ongoing daily channel is located.

However, as expected, sideways consolidation zone between 1.0930-1.0830 has been trapping the pair since the bears broke-down 1.0920 handle.

Recent bullish rejection off 1.0820 has been expressed earlier today. A bullish visit towards 1.0930 (the upper limit of the ongoing congestion zone) is expected to take place.

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Technical analysis of USD/JPY for June 01, 20143 Trend News

Overview:

USD/JPY is expected to trade in higher range. Spotlight on Monday is 14:00 GMT U.S. May ISM manufacturing PMI (expected to have risen to 55.6 from 54.9 in April). USD/JPY is underpinned by the yen-funded carry trades amid positive investor risk sentiment (VIX fear gauge eased 1.47% to 11.4) as U.S. stocks ended mostly higher Friday (S&P 500 hit all-time high 1,924.03 before closing up 0.18% at 1,923.57; Nasdaq off 0.13%), while final China May official manufacturing PMI came in stronger-than-expected at 50.8 versus 50.6 forecast and April's 50.4, suggesting world's second-largest economy may be stabilizing after a sluggish start to the year. USD/JPY is also supported by the demand from Japan importers, higher U.S. Treasury yields. But USD/JPY gains are tempered by the Japan exporter sales, weaker dollar sentiment (ICE spot dollar index last 80.41 versus 80.50 early Friday) as lower-than-expected final U.S. May University of Michigan's consumer-sentiment index (came in at 81.9 versus 82.5 forecast), surprise 0.1% drop in U.S. April consumer spending (versus forecast for 0.1% increase), weaker-than-expected 0.3% rise in U.S. April personal income (versus +0.4% forecast) outweighed surprise rise in U.S. ISM Chicago PMI to 65.5 in May from 63.0 in April (versus forecast for drop to 61.0).

Technical comment:

Daily chart is mixed as MACD is bullish, but stochastics is in bearish mode, five and 15-day moving averages are meandering sideways.

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 102.35 and the second target at 102.65. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 101.55. 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:

102.35

102.65

102.95

Support levels:

101.55

101.40

101.20

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Technical analysis of GBPJPY for June 01, 2014 Trend News

Overview:

GBP/JPY is expected to trade in higher range. It is supported by the positive risk sentiment and demand from Japan importers. But GBP/JPY gains are tempered by the Japan exporter sales. Daily chart is mixed as MACD is bearish, but stochastics is turning bullish at 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 171.45 and the second target at 172. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 169.90. A breach of this target will push the pair further downwards and one may expect the second target at 169.45. The pivot point is at 170.20.

Resistance levels:

171.45

172

172.25 Support levels:

169.90

169.45

169.10

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Technical analysis of NZD/USD for June 01, 2014 Trend News

Overview:

NZD/USD is expected to trade with risks skewed higher. The financial markets in New Zealand are shut on Monday for a public holiday. NZD/USD is supported by the weaker dollar sentiment, Kiwi demand on NZD/JPY cross amid positive risk appetite and NZD/USD interest differential. But NZD/USD gains are tempered by the soft commodity prices and Kiwi sales on buoyant AUD/NZD cross. Daily chart is mixed as MACD is bearish, five and 15-day moving averages are declining, but stochastics is turned bullish at oversold zone.

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 0.8430. A breach of this target will move the pair further downwards to 0.84. The pivot point stands at 0.8515. 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 0.8570 and the second target at 0.8595.

Resistance levels:

0.8570

0.8595

0.8620

Support levels:

0.8430

0.84

0.8365

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EUR/NZD analysis for June 02, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6090 on high volume according to the 4H timeframe. We are still waiting larger movement on this pair. As you see in the chart, our Fibonacci retracement 61.8% at the price of 1.6075 took place successfully, and we saw rejection from that point just like we expected. There is also a selling bar on high volume, which is а good sign for further bearish movement, accorindg to the 1H timeframe. If the price breaks the level of 1.6090 (previous swing high), we may see testing the level of 1.6170 Anyway, be careful with buying EUR/NZD since the price is near the resistance.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6079

R2: 1.6105

R3: 1.6147

Support levels:

S1: 1.5995

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

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Gold analysis for June 02, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards, the price tested the level of 1,242.04 on volume above the average according to the Daily chart. Since the price has broke support level (1,251.00), we saw bearish pressure. I have placed Fibonacci expansion to find potential end of bearish movement and I've got submajor Fibonacci expansion 161.8% at the price of 1,215.00 and major Fibonacci expansion 161.8% at the price of 1,143.00. According to the 1H timeframe, we can observe volume leveling off on the swing low, which is a sign that we may see possible bullish correction, before we continue with more bearish movement. Resisntace levels are the the price of 1,251.00 (swing low) and the price of 1,269.00. Be careful with selling Gold at this stage since the price is near the support level. Build selling positions just after bullish correction. Anyway, to confirm further bearish movement price needs to break the level of 1,240.00 (swing low).

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,249.92

R2: 1,250.82

R3: 1,252.27

Support levels:

S1: 1,247.02

S2: 1,246.12

S3: 1,244.67

Trading recommendation: Trading the metal, be careful with short-term selling since the price is near support.

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Elliott wave analysis of EUR/NZD for June 2, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.6179

R2: 1.6131

R1: 1.6097

Current spot: 1.6062

S1: 1.6018

S2: 1.5974

S3: 1.5930

Technical summary:

The trend line resistance from 1.6996 has clearly been broken as we expected. This call for a continuation higher soon and we will be looking for a break above minor resistance at 1.6097 as confirmation that the next impulsive rally higher towards 1.6179 is developing.

In the short term we will find support at 1.6018 and again at 1.5974, but we do not think that support at 1.6018 will be broken and if it does it will only be a minor delay before higher.

Trading recommendation:

Stay long in EUR from 1.5858 with your stop placed at 1.5970. If you are not long in EUR yet, then buy near 1.6018 or upon a break above 1.6097 with the same stop at 1.5970.

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Elliott wave analysis of EUR/JPY for May 2, 2014 Trend News

Today's Support and Resistance levels:

R3: 139.36

R2: 139.12

R1: 138.86

Current spot: 139.01

S1: 138.66

S2: 138.42

S3: 138.07

Technical summary:

The rally from the 137.97 low has been slightly stronger than expected and indicates that blue wave v and red wave iii bottomed already at 137.97 and red wave iv is developing. We do expect red wave iv to reach 139.36 before turning lower in red wave v. Short-term the correction from 137.97 doesn't look finished, but it will likely be a more complex flat consolidation as it will alternate from the simple zig-zag correction in red wave ii.

Once this correction is over we should see renewed downside pressure towards at least 137.24 and more likely even lower towards 135.94.

Trading recommendation:

Sell EUR at 139.20 with a stop at 140.20.

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#USDX Technical analysis for June 2, 2014 Trend News

The Dollar index is challenging 80.50-.60 resistance. The Dollar index continues to make higher highs and higher lows and as the recent high is currently being challenged, it should be no surprise if we saw a new high soon towards 80.70.

In the chart above I show the short-term support by horizontal green lines and the resistance as the horizontal red trend line. Price is above the Ichimoku cloud and the pattern of higher highs and higher lows supports our bullish view. A clear break below 80.30 will be the first sign of a trend reversal and a sign to close long positions and take profits. Support at 80.10 is also crucial as this is where the Ichimoku cloud lower boundaries are found.

In the daily chart, the Dollar index is trying to break above the blue upward sloping trend line resistance. The Ichimoku cloud is below current price levels and there is increased probability of seeing this move higher towards 80.70. A daily close below 80.35 will confirm that a top is in. Long-term support is found at 79.90.

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Technical analysis of EUR/JPY for June 2, 2014 Trend News

General Overview for 02/06/2014 09:30 CET

The impulsive wave progression in wave c purple of wave (ii) green looks completed and now any impulsive reaction to the downside will be considered as the first clue that the overall corrective cycle is finished and now downward cycle has been started. Moreover, a breakout below the supply breakthrough zone is bearish and next support level would be the weak golden trendline. Please notice that in alternate count the market might still go little bit higher before the reversal happens and this is valid for both intermediate and small internal cycles.

Support/Resistance:

139.50 - WR1

139.35 - Wave 2 High

138.95 - Intraday Resistance

138.73 - Weekly Pivot

138.60 - Intraday Support

138.50 - 138.57 - Supply Breakthrough Zone

138.11 - WS1

137.97 - Wave (i) green Low

Trading recommendations:

Daytraders should consider opening sell limit orders at the level of 138.93 with SL above the level of 139.15 and TP at the level of 138.73 with a possible extension to the level of 138.60.

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Technical analysis of USD/CAD for June 2, 2014 Trend News

General Overview for 02/06/2014 09:05 CET

The reaction from the level of technical support has been capped by the upper red channel line and price is now trying to breakout higher. The key level is intraday resistance at the level of 1.0854 and a breakout above is needed to confirm further impulsive wave progression. The next resistance level would be WR1 at the level of 1.0871 and a breakout higher would mean that supply zone will be tested. Please remember that this count is an attempt of (a)(b)(c) blue irregular flat wave progression in wave 2 black, so we are looking for wave (c) to go beyond the top of the wave (a). The specific target is at the H4 chart.

Support/Resistance:

1.0810 - WS1

1.0812 - 1.0821 - Technical Support

1.0836 - Intraday Support

1.0846 - Weekly Pivot

1.0854 - Intraday Resistance |Key Level|

1.0874 - WR1

1.0911 - WR2

Trading recommendations:

Daytraders should consider opening buy stop orders if the level of 1.0854 is broken with SL below the level of 1.0836 and TP at the level of 1.0874 .

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Technical analysis of EUR/USD for June 02, 2014 Trend News

When the European market opens, some economic news will be released such as German Prelim CPI m/m, Spanish Manufacturing PMI, Italian Manufacturing PMI, Final Manufacturing PMI.The US will release economic data too such as the Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3693.

Strong Resistance:1.3685.

Original Resistance: 1.3672.

Inner Sell Area: 1.3659.

Target Inner Area: 1.3627.

Inner Buy Area: 1.3595.

Original Support: 1.3582.

Strong Support: 1.3569.

Breakout SELL Level: 1.3561.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3582 and 1.3672. The rate is accompanied by strong support at 1.3569 and by 1.3685 as strong resistance.

If EUR/USD breaks out and closes below the 1.3561 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3693 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 1.3595 and at 1.3659, a SELL position. In this case both targets should be placed at the level of 1.3627.

Official Analyst of InstaForex Group Insta Forex 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 June 02, 2014 Trend News

In Asia, Japan will release the Capital Spending q/y and Final Manufacturing PMI, and the US will release some economic data such as Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices. So there is a big probability USD/JPY will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.45.

Resistance. 2: 102.25.

Resistance. 1: 102.05.

Support. 1: 101.80.

Support. 2: 101.60.

Support. 3: 101.40.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.40) and resistance 3 (102.45). 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 InstaForexGroup Insta Forex 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 Silver for June 02, 2014 Trend News

Technical outlook and chart setups:

1. Silver is seen to be trading in a falling wedge pattern on the weekly chart view presented here. A metal is formed constant supports around sub $18.00/20 levels as seen here. A break below $18.20 could be extremely bearish and push the metal through $17.00 and $16.00 levels respectively. Recommendations are to remain flat for now and await for a reaction here.

2. Support is at $18.00/20, followed by $17.00, while resistance is at $20.00, followed by $21.70, $22.30 respectively.

3. The structure indicates that Silver would bounce back if sub $18.00 levels hold. On the flip side, the metal could still form a lower low before reversing.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of Gold for June 02, 2014 Trend News

Technical outlook and chart setups:

1. Gold has slipped to lower levels and has remained just shy of $1,240.00 as seen here. A further push below $1,240.00 could bring in $1,230.00 levels into focus. Please note that fibonacci 0.786 support is passing through $1,230.00 region for now. Recommendations are to remain flat for now and watch for a reaction here.

2. Support is seen at $1,240.00, followed by $1,230.00, $1,210, and $1,180.00 while resistance is seen at $1,300.00 followed by $1,310.00, $1,330.00, $1350.00/60.00 and $1,388.00 respectively.

3. The structure indicates that Gold is still seeking support and bullish bounce just ahead of $1,240.00 region. Watch out for a reaction here.

Trading recommendations:

Remain flat for now.

Good luck!

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