Medium-term forecast and intraday recommendations of AUD/NZD and AUD/USD for June 04, 2014 Trend News

AUD/NZD

The pair has been in a down trend for a couple of years, currently the monthly chart is speaking the odd days have gone. The pair gave an upside breakout above at 1.09 levels. This week the pair takes the sport at the breakout level, as of now. It is moving to the crucial resistance level at 1.1027 (40-week SMA), 1.1043 (December 11, 2013), above this, it can face strong resistance at the 50-week SMA at 1.1081 levels. The weekly RSI favors adding a load on dips.

On the down side, the pair has strong support at 1.09, below this, 1.0858 and 1.0782-1.0740 are support levels. The pair looks moving to higher levels with sl 1.0790 for 1.1025, 1.1045, 1.1082, and 1.1188 levels.

While I am preparing this article, the pair has spiked to 1.1011 from 1.0980 levels. The ANZ commodity price index dropped to 2.2% with an annual decline of 3.1%. It is facing strong resistance at 200-day EMA, 1.1032 levels. Once it crosses above this, it will rally to 1.1065 and 1.1350 levels. But the daily momentum oscillators are indicating overbought signals. We expect the pair will pause its rally at the 200-day EMA.

On the down side, the pair has strong support at 1.09 (break out level), below this, it will fall to 1.0812 and 1.0730 levels.

From the above study, we recommend the following.

Sell with sl 1.1032 on a closing basis, cmp 1.1015.

Positional traders, buy on the dips for the next doom target at 1.20.

AUD/USD

The pair spiked to the initial resistance level at 50-day SMA (0.9304). Today in Asia's session the pair made a high at 0.9297 levels. The recent news from NZ, the ANZ commodity price index dropped to 2.2% with an annual decline of 3.1% made the pair to move higher. On the down side, the pair has strong support at 0.9260, below this, 0.9250 is the Intraday support level. The pair is facing selling pressure until it crosses above 0.9304 on the higher side, and the pressure will double below 0.9243 on the lower side.

Sell with sl 0.9305 and targets 0.9260, 0.9250. cmp 0.9285.

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



For detail explanation and best discovery on market trends you may visit via Medium-term forecast and intraday recommendations of AUD/NZD and AUD/USD for June 04, 2014 . Thanks for your support on Medium-term forecast and intraday recommendations of AUD/NZD and AUD/USD for June 04, 2014

Technical analysis of EUR/USD for June 04, 2014 Trend News

EUR/USD

The euro zone inflation is adding pressure on the ECB. The ECB approach should weaken the euro. Traders are waiting for today's economic data German services PMI, Italina services PMI, French services PMI. In the monthly chart, the pair is trading below the descending trend line. From the below chart, we can assume the price will pull down to lower levels from the upper trend line. The pair will face another round of selling below 1.3560 (50-week SMA) levels, up to 1.3477, 1.3414, 1.3314 (monthly 50 SMA), 1.3295 and 1.32 levels.

The pair will get buyers support until it breaks the 1.3560 level, on the up side, the pair will face strong resistance levels at 1.3670 and 1.3733 (Bollinger band middle). We can't see another run up until the pair crosses above 1.3670 on a closing basis.

For the last 5 trading days, the pair has been consolidating at 1.3585 levels and pushed towards the 200-day SMA levels, but was unable to close above this. Currently, the pair is trading between 1.3585-1.3650 levels. In yesterday's trading session, the pair made a double bottom at 1.3588 levels. The weakness will start again below 1.3560 and panic stage will activate below 1.3550 for 1.3477 as an immediate target.

As per the above study we recommend the following.

Sell below 1.3560, safe traders, sell below 1.3550.

Bulls are back on track only above 1.3670 on a closing basis.

Free fall is below 1.3520 (lower Bollinger band).

Upturn is expected between 1.3550-1.3520, chances are remote.

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 June 04, 2014 . Thanks for your support on Technical analysis of EUR/USD for June 04, 2014

Technical analysis of gold for June 04, 2014 Trend News

The yellow metal pulled back to crucial support levels. Traders are waiting for today's ADP non-farm employment change, ISM non manufacturing PMI and tomorrow's ECB's action, unemployment claims.

The gold melted to a four-month low and paused its losing streak from $1,240 support levels. The metal is not getting any supporting data from the broader world. The optimistic USD is pushing gold to lower levels. Tomorrow's ECB data may push gold to new lows ($1,220/$1,217) as everyone is expecting the rate cut. The optimistic economic factor's add fuel to melt the metal.

The metal is taking support at $1,240 levels. In yesterday's session, it was unable to cross the $1,248 levels. In Asia's trading session, the metal is trading at $1,244.80 levels. We expect a new bearish wave below $1,237.70 levels and it will end at $1,231.30, $1,220 and $1,217 levels. The daily momentum oscillators are indicating oversold levels.

On the upper side, the metal looks good only above $1,248. If it crosses $1,248, then it will move up to $1,250.40, $1,256.50, $1,260 and $1,264. Until the metal trades above the $1,265 level, selling on the rallies will mint the money. On the down side, currently we are bearish only below $1,237.70 levels.

As per the above study we recommend the following.

Sell only below $1,237.50.

Buy above $1,248 for targets at $1,250.40, $1,256.50, $1,260.

Sell on the rally with sl $1,265.

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 gold for June 04, 2014 . Thanks for your support on Technical analysis of gold for June 04, 2014

Technical analysis of EUR/USD for June 04, 2014 Trend News

When the European market opens, some economic news will be released such as Spanish Services PMI, Italian Services PMI, Final Services PMI, PPI m/m, Revised GDP q/q. The US will release the economic data too such as the ADP Non-Farm Employment Change, Trade Balance, Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q, Final Services PMI, ISM Non-Manufacturing PMI, Crude Oil Inventories, Beige Book , so amid the reports, EUR/USD will move medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3685.

Strong Resistance:1.3677.

Original Resistance: 1.3664.

Inner Sell Area: 1.3651.

Target Inner Area: 1.3619.

Inner Buy Area: 1.3587.

Original Support: 1.3574.

Strong Support: 1.3561.

Breakout SELL Level: 1.3553. DESCRIPTION:

Today EUR/USD has support and resistance at 1.3574 and 1.3664. The rate is accompanied by strong support at 1.3561 and by 1.3677 as strong resistance.

If EUR/USD breaks out and closes below the 1.3553 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3685 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 1.3587 and at 1.3651, a SELL position. In this case both targets should be placed at the level of 1.3619. 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 EUR/USD for June 04, 2014 . Thanks for your support on Technical analysis of EUR/USD for June 04, 2014

Technical analysis of USD/JPY for June 04, 2014 Trend News

In Asia, Japan will not release any economic data, but the US will release some economic data such as ADP Non-Farm Employment Change, Trade Balance, Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q, Final Services PMI, ISM Non-Manufacturing PMI, Crude Oil Inventories, Beige Book . 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: 103.10.

Resistance. 2: 102.90.

Resistance. 1: 102.70.

Support. 1: 102.45.

Support. 2: 102.25.

Support. 3: 102.05.

DESCRIPTION:

Please, pay attention to the levels of support 3 (102.05) and resistance 3 (103.10). 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.

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 June 04, 2014 . Thanks for your support on Technical analysis of USD/JPY for June 04, 2014

Daily analysis of USDX for June 04, 2014 Trend News

Daily chart: The USDX has remained above the 200 SMA, although the USDX is trying to make a breakout on the resistance level of 80.62. If successful, it is expected to rise to the level of 81.50, but for the USDX to get that, the USDX needs to receive fundamental news during this week. The MACD indicator is in the overbought zone.

H4 chart: The USDX is finding resistance at the level of 80.60 and this could be an indicator that the USDX to fall to the support level of 80.35 in the coming hours. However, we have to wait for a breakout at the resistance level to continue placing buy orders. The MACD indicator is in negative territory.

H1 chart: The USDX remains above the support level of 80.35, while the USDX has found resistance at the 80.65 level. However, if the USDX does make a breakout on the resistance level of 80.59, it's expected to rise to the level of 80.73. On the other hand, if the USDX makes a pullback at current levels, it's expected to fall to the level of 80.35. The MACD indicator is oversold.

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.

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



For detail explanation and best discovery on market trends you may visit via Daily analysis of USDX for June 04, 2014 . Thanks for your support on Daily analysis of USDX for June 04, 2014

Daily analysis of GBP/USD for June 04, 2014 Trend News

Daily chart: The GBP/USD stays below the resistance level of 1.6766, as this pair has made a pullback at this level. If GBP/USD manages to make a breakout at that level, it would be expected to rise to the resistance level of 1.6851. However, it is expected to continue corrective movements. The MACD indicator is in negative territory.

H4 chart: This pair has formed a double top pattern on the resistance level of 1.6762, so it is likely that the GBP/USD try a breakout in the support level of 1.6731. If successful, it is expected to fall to the support level of 1.6683. However, if the GBP/USD manages to make a breakout on the resistance level of 1.6785, it's expected to rise to the level of 1.6822. The MACD indicator is in the overbought zone.

H1 chart: The GBP/USD stays below the resistance level of 1.6750, because this pair found resistance at the 200 SMA. However, if the pair manages to consolidate above this level, it would be expected to go up to resistance level of 1.6800. On the other hand, if the GBP/USD manages to make a breakout at the support level of 1.6700, it's expected to fall to the level of 1.6629. The MACD indicator is in negative 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.

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



For detail explanation and best discovery on market trends you may visit via Daily analysis of GBP/USD for June 04, 2014 . Thanks for your support on Daily analysis of GBP/USD for June 04, 2014

Technical analysis of USD/CHF for June 4, 2014 Trend News

Overview :

• Depending on the previous events, the last double top has set at the level of 0.8994 and support is placed at 0.9821. Additionally, the USD/CHF pair has still been trapped between 0.8943 and 0.8990. Also, the key level is set at 0.8921 because it is representing strong support and is coinciding with the last weekly pivot point of the USD/CHF pair. Equally important, the double top will be formed at the 0.8994 level, but it seems the price is going to break this level in order to continue towards the level of 0.9030. The level of 0.9030 will be resistance today. Hence, the market's range will be around 50 pips. As it is know, history will probably repeat itself at this level again. Therefore, it will be a good sign to buy above 0.9821 with the first target of 0.8990. Furthermore, It will call for uptrend in order to continue its bullish movement towards 0.9030. However, the stop loss should never exceed your maximum exposure amounts, thus the stop loss should be placed below 0.8921, at the price of 0.8903.

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/CHF for June 4, 2014 . Thanks for your support on Technical analysis of USD/CHF for June 4, 2014

Technical analysis of NZD/USD for June 4, 2014 Trend News

Overview :

• The NZD/USD pair has broken a major support at 0.8510 for that the level of 0.8510 became resistance, and it will continue to act as strong resistance on May 4, 2014. Also, it should be noted that the pivot point is calculated at 0.8480, and it is now approaching it to test it; therefore it will probably start a downward movement at this area and recover again. So the market will indicate a bearish opportunity at the levels of 0.8510 or 0.8480. Thus, it will be a good sign to sell at this area with the first target of 0.8420 (the double bottom sets at the level of 0.8421), and continue towards 0.8370. On the other hand, if a break at 0.8510, then it will be a good sign to set the stop loss for that the best location for placing stop loss should be at the level of 0.8530.

Trading recommendations :

• According to previous events, the price of NZD/USD is going to move between 0.8377 and 0.8510.


• Buy above the level of 0.8510 with the first target of 0.8560, it might resume to 0.8593.


• Below the level of 0.8500, look for further downside with 10.8420 and 0.8373 targets.

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 NZD/USD for June 4, 2014 . Thanks for your support on Technical analysis of NZD/USD for June 4, 2014

Daily analysis of GBP/JPY for June 02, 2014 Trend News

According to our last week expectations, more bullish signals would be expected in case of closing above the Resistance level of 171.00. Today, as it is shown in the H4 chart, the pair has already managed to break the Resistance level and close 4H above it. Currently, the pair is approaching the Resistance level of 171.50 trying to break it through to continue the upward move. More bullish signals would be expected in case of closing 4H above this Resistance level with first target few pips below the Resistance level of 172.00, then 172.75 as the second target.

Resistance and Support levels: R3 (172.75) R2 (172.00) R1 (171.50), S1 (171.60) S2 (170.00) S3 (169.75)

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



For detail explanation and best discovery on market trends you may visit via Daily analysis of GBP/JPY for June 02, 2014 . Thanks for your support on Daily analysis of GBP/JPY for June 02, 2014

Intraday technical levels and trading recommendations on EUR/USD for June 3, 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 weeks' 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). Note Today's bullish engulfing daily candlestick which emerged off 1.3585 ( may become a threat to the bearish momentum ).

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.

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



For detail explanation and best discovery on market trends you may visit via Intraday technical levels and trading recommendations on EUR/USD for June 3, 2014 . Thanks for your support on Intraday technical levels and trading recommendations on EUR/USD for June 3, 2014

Technical analysis of USD/JPY for June 03, 20143 Trend News

Overview:

USD/JPY is expected to consolidate with bullish bias after hitting one-month high at 102.49 on Monday.It is underpinned by the yen-funded carry trades amid positive investor risk sentiment as U.S. stocks ended mostly higher Monday (S&P 500 hit all-time high 1,925.88 before closing up 0.07% at 1,924.97; Nasdaq off 0.13%) in a whippy session after twice-corrected data from U.S. Institute for Supply Management. Risk appetite is boosted by the stronger-than-expected final China May official manufacturing PMI which hit a five-month high of 50.8, while Market final U.S. May manufacturing PMI of 56.4 (versus preliminary reading of 56.2 and April's 55.4) offset lower-than-expected rise in U.S ISM manufacturing PMI to 55.4 in May from 54.9 in April (versus 55.6 forecast) and smaller-than-expected 0.2% increase in U.S. April construction spending (versus +0.6% forecast). USD/JPY is also supported by the demand from Japan importers and higher U.S. Treasury yieldsm broadly stronger USD undertone (ICE spot dollar index last 80.63 versus 80.41 early Monday). But USD/JPY gains are tempered by the Japan exporter sales.

Technical comment:

Daily chart is positive-biased as MACD and stochastics are bullish, five-day moving average is above 15-day MA and is advancing.

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

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 June 03, 20143 . Thanks for your support on Technical analysis of USD/JPY for June 03, 20143

Technical analysis of GBPJPY for June 03, 2014 Trend News

Overview:

GBP/JPY is expected to consolidate with bullish bias. It is supported by the positive risk appetite and demand from Japan importers. But GBP/JPY gains are tempered by the Japan exporter sales and weak euro sentiment. Daily chart is positive-biased as stochastics is in bullish mode, MACD is turning bullish, bullish parabolic stop-and-reverse signal was hited on Monday.

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 and the second target at 172.30. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 170.70. A breach of this target will push the pair further downwards and one may expect the second target at 170.20. The pivot point is at 171.

Resistance levels:

172

172.30

172.75

Support levels:

170.70

170.20

168.75

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 GBPJPY for June 03, 2014 . Thanks for your support on Technical analysis of GBPJPY for June 03, 2014

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

Overview:

NZD/USD is expected to consolidate with bearish bias after hitting near-three-month low at 0.8437 on Monday.It is undermined by the broadly stronger USD undertone and soft commodity prices. But NZD/USD losses are tempered by the improved China economic outlook and Kiwi demand on retreating AUD/NZD cross, Kiwi demand on NZD/JPY cross amid positive risk appetite and NZD-USD interest differential. Daily chart is negative-biased as MACD is bearish, stochastics stays suppressed at oversold zone, five and 15-day moving averages are 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 0.8430. A breach of this target will move the pair further downwards to 0.84. The pivot point stands at 0.8490. 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 0.8520 and the second target at 0.8550.

Resistance levels:

0.8520

0.8550

0.8570

Support levels:

0.8430

0.84

0.8365

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 NZD/USD for June 03, 2014 . Thanks for your support on Technical analysis of NZD/USD for June 03, 2014

EUR/NZD analysis for June 03, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6080 on high volume according to the 4H timeframe. We are still waiting for larger movement on this pair. As you see in the chart, our Fibonacci retracement 61.8% at the price of 1.6075 again took place successfully, and we saw rejection from that point just like we expected. We can observe weak demand in past few days and yesterday bar was demand on high volume but very low range of the bar. It is a sign that buyers don't have strong power. According to the 1H timeframe, we can observe buying pressure and potential re-testing of 1.6104. 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: 1.6104

R3: 1.6150

Support levels:

S1: 1.6046

S2: 1.6029

S3: 1.6000

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

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



For detail explanation and best discovery on market trends you may visit via EUR/NZD analysis for June 03, 2014 . Thanks for your support on EUR/NZD analysis for June 03, 2014

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

Trading recommendations :

• The EUR/USD pair is in the short term.


• The price of the EUR/USD pair is going to turn to bullish sentiment from the level of 1.3585. Addendum, it should be noted that the level of 1.3585 is representing a double bottom today. Accordingly, it will be a good sign to buy above the double bottom at 1.3585 with the first target of 1.3629 to test the weekly pivot point at this area. Then, if the price breaks the weekly pivot point, it will call for uptrend market in order to continue its bullish movement towards 1.3670 (the weekly resistance 1). Equally important, the resistance would set at the 1.3672 level. Additionally, it should be noted that the range today will be about 60 pips.


• However, the stop loss should be placed below the double bottom at the price of 1.3545, so the stop loss should be set in 40 pips since the risk of 40 pips could make profit of 60 pips.

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 June 3, 2014 . Thanks for your support on Technical analysis of EUR/USD for June 3, 2014

Gold analysis for June 03, 2014 Trend News

Overview:

Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,250.56 on volume above the average according to the 4H chart. I have placed Fibonacci expansion to find a potential end of the 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 divergence on the swing low, which is a sign that we may see possible bullish correction before we continue with further bearish movement. Resisntace levels are 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). According to the Daily chart, there is we can observe no supply bar (weak supply) on the volume below the average so selling at this stage looks risky...

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,249.15

R2: 1,251.49

R3: 1,255.27

Support levels:

S2: 1,239.25

S3: 1,235.47

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

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



For detail explanation and best discovery on market trends you may visit via Gold analysis for June 03, 2014 . Thanks for your support on Gold analysis for June 03, 2014

Gold technical analysis for June 3, 2014 Trend News

Gold price is trading just above $1,240 and is consolidating. Gold price is trading above short-term support levels and could soon make an upward break out towards $1,280. If $1,240 holds, we should expect a buy signal when $1,250 is broken to bring us back up to $1,280-90.

Gold price is below the Ichimoku cloud and the trend remains down. However a small bullish wedge is being formed and a break out above it will signal a strong bounce is coming. If support at $1,240 fails to hold price, then we should expect Gold price to reach closer to the 76.4% Fibonacci retracement towards $1,230.

Either way it would be wise to take profits from our short positions that we opened when the triangle was broken. For now bears should play it safe and lower the stops to protect their profits as there is increased probability of an upward bounce towards $1,280-$1,300.

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



For detail explanation and best discovery on market trends you may visit via Gold technical analysis for June 3, 2014 . Thanks for your support on Gold technical analysis for June 3, 2014

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

Today's Support and Resistance levels:

R3: 139.89

R2: 139.43

R1: 139.36

Current spot: 139.21

S1: 138.98

S2: 138.66

S3: 138.42

Technical summary:

We have seen the expected corrective rally towards 139.36 (the high have been at 139.34). We are now looking for a break below support at 138.98 as the frist strong indication that a top is in place for a return to 137.97. That said we do expect this red wave iv correction to be even more complex than already seen and that would likely indicate that from 137.97 we will see another move to resistance at 139.36, before we will be ready to explore the downside for real.

For now look for a break below minor support at 138.98 as indication, that the top is in place for a decline towards 137.97.

Trading recommendation:

We sold EUR at 139.20 and placed our stop at 139.90. Upon a break below 138.98, we will move our stop lower to 139.50. If you are not short in EUR yet, then sell here or upon a break below 138.98 with the same stop at 139.90.

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 June 3, 2014 . Thanks for your support on Elliott wave analysis of EUR/JPY for June 3, 2014

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

Today's Support and Resistance levels:

R3: 1.6179

R2: 1.6131

R1: 1.6109

Current spot: 1.6052

S1: 1.6039

S2: 1.5974

S3: 1.5930

Technical summary:

We are locked in a short-term consolidation after the break above the falling trendline resistance. However, this consolidation should be over soon and a break above minor resistance at 1.6109 will confirm acceleration higher towards 1.6179 and likely even higher towards 1.6517 on the way higher towards 1.6996.

Short-term support will be found at 1.6039 and again at 1.5974, but ideally support at 1.6039 will be strong enough to protect the downside for the next rally higher.

Trading recommendation:

Stay long in EUR from 1.5858 and keep your stop at 1.5970. If you are not long in EUR yet, then buy near 1.6039 or upon a break above 1.6109 with the same stop at 1.5970.

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 June 3, 2014 . Thanks for your support on Elliott wave analysis of EUR/JPY for June 3, 2014

Technical analysis of USD/CAD for June 3, 2014 Trend News

General overview for 03/06/2014 08:10 CET

The impulsive wave progression is developing as planned. There are three waves present on the chart and now the market is in a small corrective cycle wave iv and an upside breakout is expected to complete the impulsive wave progression. The min. target is the old high of the wave (a). . Please notice that a breakout below the intraday support at the level of 1.0888 will invalidate a possible triangle in wave iv.

Support/Resistance:

1.0941 - Wave (a) Top

1.0936 - WR3

1.0911 - WR2

1.0888 - Intraday Support

1.0874 - WR1

1.0846 - Weekly Pivot

Trading recommendations:

Daytraders might consider opening buy stop orders if the level of 1.0911 is broken, with SL below the level of 1.0888 and TP at the level of 1.0936.

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/CAD for June 3, 2014 . Thanks for your support on Technical analysis of USD/CAD for June 3, 2014