Forecast for USD/CAD and USD/CHF for June 06, 2014 Trend News

USD/CAD

The pair paused its rally at the 61.8 fib level and closed below the 50-day SMA. Today in Asia's session the pair opened on a bearish note. On the down side, the pair has support at 1.0917 and 1.0907 levels. On the upside, the pair has strong resistance levels at 1.0940 and 1.0960 levels. The "selling the rally" is the best strategy for next 2-3 sessions. Traders can enter shorts below 1.0917 with targets at 1.0907, 1.09, 1.0891 and 1.0885 levels.

USD/CHF

We have been recommending to sell this pair with sl 0.90 levels on a closing basis. Yesterday, it made a high at 0.9037 levels and closed at the lower levels. On the down side, the pair has strong support at 0.8880, below that, 0.8870 and 0.8860 levels. Until the pair closes above 0.90 levels, please hold shorts. For intraday basis, the pair has strong support between 0.8906-0.8881 levels.

Again sell below 0.8880 for targets at 0.8870, 0.8860, and 0.8830 levels.

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



For detail explanation and best discovery on market trends you may visit via Forecast for USD/CAD and USD/CHF for June 06, 2014 . Thanks for your support on Forecast for USD/CAD and USD/CHF for June 06, 2014

Technical analysis of EUR/USD for June 06, 2014 Trend News

The ECB cut its deposit interest rate by 10 basis points to -0.10%. The ECB is the first central bank which introduced negative rates. The euro lost its steam and trading near a four-month low. It has been consolidating for last six trading sessions. The pair was priced before the event and in yesterday's session, it just drifted to 1.35 levels and pulled back to 1.3670 levels. In yesterday's article we recommended to buy the pair at 1.3520 with sl 1.3477.

Currently, the pair is trading near crucial resistance level at 1.3670. Until the pair closes above the level of 1.3670, positional buying is not safe. Traders can buy only above 1.3673 for an up move 1.3688, 1.37, 1.3735 and 1.3757(50-day SMA) levels. Until the pair trades above 1.3670, traders can short for 1.3630, 1.3620 and 1.36.

Sell with sl 1.3670.

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 06, 2014 . Thanks for your support on Technical analysis of EUR/USD for June 06, 2014

Technical analysis of Gold for June 06, 2014 Trend News

Technical outlook and chart setups:

1. Gold broke the trading range and rallieds yesterday through $1,257.00 levels as seen here. A morning star bullish signal has produced, indicating further upside towards $1,270.00/75.00. Recommendations are to remain flat for now and look to sell around $1,275.00 levels on a bearish bounce.

2. Support is at $1,240.00, followed by $1,230.00, $1,210.00 and lower while resistance is seen at $1,275.00/80, followed by $1,300.00, $1,310.00 and higher respectively.

3. The structure indicates that Gold could rally further up towards $1,275.00/80.00 levels before reversing towards the larger down trend.

Trading recommendations:

Remain flat for now, look to sell higher.

Good luck!

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 06, 2014 . Thanks for your support on Technical analysis of Gold for June 06, 2014

Technical analysis of Silver for June 06, 2014 Trend News

Technical outlook and chart setups:

1. Silver raises past the $19.00 levels yesterday, as discussed earlier. The current rally could be still defined as a retracement/correction which is expected to reverse from around $19.40/50 levels towards lower levels. Recommendations are to remain long if bought yesterday or plan to short around $19.40/50 levels on a bearish bounce.

2. Support is seen at $18.60/70, followed by $18.20 and $18.00 while resistance is seen at $19.40/50, followed by $19.90/20.00, $21.70 and higher respectively.

3. The structure indicates that Silver could dip towards $18.50/60 levels immediately before rallying further towards $19.40/50

Trading recommendations:

Remain flat and look to sell higher.

Good luck!

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 Silver for June 06, 2014 . Thanks for your support on Technical analysis of Silver for June 06, 2014

Technical analysis of EUR/JPY for June 05, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair favored the long positions yesterday around 138.70/75 levels, before pulling back sharply towards daily highs. It is expected that the pair should continue drifting higher at least towards 141.00. Recommendations are to remain long, risk remains at 138.00 for now.

2. Support is seen at 138.00, followed by 136.60, 134.00 and lower while resistance is seen at 141.00, 142.50/143.50, 144.00 and 145.00 respectively.

3. The structure indicates that EUR/JPY rally should continue further towards 141.00/142.00 levels before any meaningful retracement.

Trading recommendations:

Remain long (entry at 138.70/75), stop at 138.00, target is open.

Good luck!

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/JPY for June 05, 2014 . Thanks for your support on Technical analysis of EUR/JPY for June 05, 2014

Technical analysis of GBP/CHF for June 06, 2014 Trend News

Technical outlook and chart setups:

1. GBP/CHF pair has tested recent highs again yesterday at 1.5133 levels before giving into bears, as seen here. The pair is headed south, and any intraday pullbacks should remain well capped below 1.5133 levels. Recommendations are to remain short, risk remains at 1.5140.

2. Support is at 1.4900, followed by 1.4780, 1.4650, 1.4550 and lower, while resistance is at 1.5140 respectively.

3. The structure indicates that GBP/CHF may have set itself for a larger correction. Minimum expectations are towards 1.4700 levels.

Trading recommendations:

Remain short, stop at 1.5140/50, target is open for now.

Good luck!

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 GBP/CHF for June 06, 2014 . Thanks for your support on Technical analysis of GBP/CHF for June 06, 2014

Daily analysis of Silver for June 06, 2014 Trend News

Overview

As it was expected, the metal took an upward move in case of closing above the resistance level of 19.00. Friday, as it is shown in the H4 chart, the metal took a slightly upward move after breaking the Resistance area at 19.00 and it managed to close 4H above it and, currently, it is approaching the Resistance level of 19.20. More bullish signals are expected as long as silver is trading above this Resistance area with the first target few pips below the Resistance level of 19.50. But if silver closes 4H below 19.20, we should wait for testing the Support area again before making decision and also cancels the bullish move scenario.

Resistance and support levels: R3 (19.50), R2 (19.20), R1 (19.00), S1 (18.60), S2 (18.30), S3 (18.00).

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 Silver for June 06, 2014 . Thanks for your support on Daily analysis of Silver for June 06, 2014

Technical analysis of EUR/USD for June 06, 2014 Trend News

When the European market opens, some economic news will be released such as German Trade Balance, German Industrial Production m/m, French Gov Budget Balance, French Trade Balance. The US will release the economic data too such as the Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, Consumer Credit m/m, so amid the reports, EUR/USD will move medium to high volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3727.

Strong Resistance:1.3718.

Original Resistance: 1.3705.

Inner Sell Area: 1.3692.

Target Inner Area: 1.3659.

Inner Buy Area: 1.3626.

Original Support: 1.3613.

Strong Support: 1.3600.

Breakout SELL Level: 1.3591.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3626 and 1.3692. The rate is accompanied by strong support at 1.3600 and by 1.3718 as strong resistance.

If EUR/USD breaks out and closes below the 1.3591 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3727 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 1.3626 and at 1.3692, a SELL position. In this case both targets should be placed at the level of 1.3659.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/USD for June 06, 2014 . Thanks for your support on Technical analysis of EUR/USD for June 06, 2014

Technical analysis of USD/JPY for June 06, 2014 Trend News

In Asia, Japan will release the Leading Indicators, and the US will release some economic data such as Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, Consumer Credit m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with medium to high volatility during the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.82.

Resistance. 2: 102.62.

Resistance. 1: 102.42.

Support. 1: 102.17.

Support. 2: 101.96.

Support. 3: 101.76.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.76) and resistance 3 (102.82). 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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for June 06, 2014 . Thanks for your support on Technical analysis of USD/JPY for June 06, 2014

Daily analysis of USDX for June 06, 2014 Trend News

Daily chart: The USDX has made a strong pullback at the resistance level of 80.62. If the USDX does make a breakout at the support level of 80.11, it's expected to fall to the level of 79.19, which would usher in a new era of bearish trend in the USDX. However, the USDX could be forming a bullish pattern. The MACD indicator is in the overbought zone.

H4 chart: The USDX is again trying to consolidate below the resistance level of 80.60, as the USDX made a pullback to the 81.00 level. If the USDX does make a breakout at the support level of 80.35, it's expected to fall to the level of 80.15, where the 200 SMA is. MACD is in negative territory.

H1 chart: The USDX found resistance at the 80.93 level as the USDX had a fall to the support level of 80.35, which is below the 200 SMA achieves. If the USDX make a breakout at that level, it would be 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 sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 80.35, take profit is at 80.15, and stop loss is at 80.54.

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 06, 2014 . Thanks for your support on Daily analysis of USDX for June 06, 2014

Daily analysis of GBP/USD for June 06, 2014 Trend News

Daily chart: GBP/USD has made a breakout at the resistance level of 1.6766, so the next target is the resistance level of 1.6851. Now, this pair is likely to start making corrective movements as GBP/USD could be in overbought zone. However, the bullish momentum is very strong, so we could recommend to keep putting buy orders. The MACD indicator is entering neutral territory.

H4 chart: This pair is trying to consolidate above the 200 SMA and now, the GBP/USD is about to make a breakout at the resistance level of 1.6822. If successful, it is expected to rise to the level of 1.6841. On the other hand, if the pair takes a pullback at current levels, it's expected to fall to the support level of 1.6785. The MACD indicator is in positive territory.

H1 chart: GBP/USD is consolidating above the support level of 1.6800, so it is very likely that this pair rise to the resistance level of 1.6850. If GBP/USD manages to make a breakout on the resistance level of 1.6850, it's expected to rise to the level of 1.6900. On the other hand, if this pair makes a breakout at the support level of 1.6800, it's expected to fall to the 1.6750 level. The MACD indicator is in the overbought zone.

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 1.6750.

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 06, 2014 . Thanks for your support on Daily analysis of GBP/USD for June 06, 2014

Short-term forecast and intraday recommendations of CHF/JPY for June 06, 2014 Trend News

CHF/JPY

Short-term forecast- key resistance level 116.78

The pair has been in a down trend from 119.15 (December 2013 high) and dipped to 111.66 levels. It made a triple top at 117.78 levels, currently it is taking support at 112.82 levels. This week's key resistance level is placed at 114.91 levels. In yesterday's session, it made a high at 114.87. We expect selling will take place until the pair crosses the 114.87 level, if it crosses it, then it will fly to 115.35 levels. For the short-term perspective, until the pair crosses above the 117.78 levels, bears will have an upper hand for an open target for 11.20/110.50 levels.

Weekly forecast- key resistance level 115.20

In Asia's trading session, the pair opened in a highly bearish mode, opened high and was unable to cross the yesterday's high of 114.87. The pair looks safe for buying only above 114.93 for 115.20 as immediate targets; short here with sl 115.35. This view is for weekly trading perspective (June 06-13). A day close above 115.20 (50-day SMA), it can extend its rally up to 116 and 116.80 levels. No longs until the pair trades above 114.87 levels.

For intraday basis, the pair set for a correction to 114.60, 114.50, 114.40, 114.23, 114 and 113.80 levels. Traders can buy above 114.93 for targets 115.20, 115.28 and 115.50 levels.

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



For detail explanation and best discovery on market trends you may visit via Short-term forecast and intraday recommendations of CHF/JPY for June 06, 2014 . Thanks for your support on Short-term forecast and intraday recommendations of CHF/JPY for June 06, 2014

Daily analysis of GBP/JPY for June 05, 2014 Trend News

Overview

Proceeding from the today's H4 chart, the pair is still trading between the support level of 171.50 and the resistance level of 172.00 and currently the pair fails again to break the resistance level. If the pair breaks it to take an upward movement, it may continue its bullish trend and we will get a good opportunity to buy again above the resistance level of 172.00 till closing 4H above the resistance level of 172.75 as a level target. Then we should wait for breaking this resistance level to continue the upward move and open the way towards the resistance level of 173.00. On the other hand, if the pair failed to break the resistance level of 172.00 and bounces from it, it may take a downward trend, which will enable the support level of 171.50 again. Therefore we suggest waiting for the next closing before making the decision.

Resistance and support levels: R3 (173.00), R2 (172.75), R1 (172.00), S1 (171.50), S2 (171.00), S3(170.00)

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 05, 2014 . Thanks for your support on Daily analysis of GBP/JPY for June 05, 2014

Daily analysis of silver for June 05, 2014 Trend News

Overview

Based on the H4 chart above, silver stabilized below the resistance level of 19.00 after hitting it then bouncing from it to take a slightly downward move as shown. If silver continues its bearish move and manages to break the support level of 18.60, it will produce a strong indicator for the downward move and open the way towards the support level of 18.30. In this case, we should wait for the breakout of this level to continue the bearish move. On the other hand, the breakout of this resistance level will denote a bullish strength providing new buy-signals from this level till reaching the resistance level of 19.20 then 19.50.

Resistance and support levels: R3 (19.50), R2 (19.20), R1 (19.00), S1 (18.60), S2 (18.30), S3 (18.00).

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 silver for June 05, 2014 . Thanks for your support on Daily analysis of silver for June 05, 2014

GBP/USD intraday technical levels and trading recommendations for June 5, 2014 Trend News

The recent congestion zone between 1.6765 and 1.6815 was established during February and March. These levels correspond to the previous tops in a successful Double Top pattern.

The depicted BLUE uptrend line remained intact since it was established in November 2013. However, this time the bulls are retesting the backside of the same broken trend line.

On the 4H chart, strong bearish rejection was expressed off 1.6920 leading to bearish breakdown of the depicted bullish channel as well as successive previous support levels now acting as resistance.

The expressed bearish momentum enhances the bearish side of the market especially at retesting of recently broken support levels as taking place today.

Note the bearish spike that extended below 1.6730 earlier today. Immediate bullish rejection was expressed shortly after the pair reached its average daily range around 1.6725.

This enhances the bullish side of the market at least on intraday basis.

However, the long-term perspective remains bearish aiming to form another bearish limb that would extend below 1.6730 ( the most recent bottom ) as long as the bears keep defending this newly established resistance zone located between 1.6780-1.6820.

If the pair resumes its bearish momentum, we should note that price action should be watched around 1.6650 to take advantage of a possible bullish corrective movement.

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



For detail explanation and best discovery on market trends you may visit via GBP/USD intraday technical levels and trading recommendations for June 5, 2014 . Thanks for your support on GBP/USD intraday technical levels and trading recommendations for June 5, 2014

USD/CAD intraday technical levels and trading recommendations for June 5, 2014 Trend News

Since the USD/CAD bulls failed to show enough momentum above 1.1200 during the last visit on March 20, the pair has been going down within the depicted bearish channel which managed to push towards price zone of 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart) for few times now.

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 significant bearish pressure was applied previously on March 21.

As expected, a bullish visit towards 1.0940 (the upper limit of the ongoing congestion zone) is taking place right now shortly after we mentioned in previous articles.

We see the pair may face temporary resistance around these levels. A bearish corrective limb is expected to take place towards 1.0888 ( depicted on the 4H chart ) to collect more buyers to allow a bullish breakout above 1.0950 to take place after a long bullish rally.

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



For detail explanation and best discovery on market trends you may visit via USD/CAD intraday technical levels and trading recommendations for June 5, 2014 . Thanks for your support on USD/CAD intraday technical levels and trading recommendations for June 5, 2014

EUR/NZD analysis for June 05, 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 1.6088 on high volume. As you can see in the graph, the price rebounded from our Fibonacci expansion 100% at the level of 1.6170, as we expected. According to the 1H timeframe, we can observe that strong supply on ultra high volume has entered the market around the price of 1.6196. Buying at this stage looks very risky since the price is near the resisntace level and we got buying climax in the background according to the daily chart. According to the previous price action, I got support levels around the price of 1.6030 and 1.6010.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6187

R2: 1.6207

R3: 1.6239

Support levels:

S2: 1.6104

S3: 1.6073

Trading recommendation: Be careful with buying the EUR/NZD pair 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 05, 2014 . Thanks for your support on EUR/NZD analysis for June 05, 2014

Gold analysis for June 05, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards. The price tested the level of 1,241.70 again on ultra high volume according to the 1H chart. As you can see in the graph, the price rejected from our support level (1,240.00). According to the 1H timeframe, we can observe strong rejection on high volume from our support. The support level around the price of 1,240.00 looks very strong since price haven't broken that area for few days. Intraday resisntace levels are the price of 1,247.00 (swing high) and the price of 1,250.00. Be careful with selling Gold at this stage since the price rejected on ultra high volume from our support. 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, we can observe indecision bars and very low activity (volume).

Daily pivot Fibonacci points:

Resistance levels:

R2: 1,249.67

Support levels:

S2: 1,241.39

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 05, 2014 . Thanks for your support on Gold analysis for June 05, 2014

Technical analysis of Gold for June 05, 2014 Trend News

Technical outlook and chart setups:

1. Gold has been drifting sideways between $1,241.00 and $1,249.00 levels since last few trading sessions. A probability remains for a pullback from current levels towards at least 1,275.00 levels before reversing. Recommendations are to still remain flat and wait for higher levels, to go short.

2. Support is at $1,240.00, followed by $1,230.00, $1,210.00 and lower while resistance is seen at $1,275.00/80.00, followed by $1,300.00, $1,310.00 and higher respectively.

3. The structure indicates that Gold could produce a counter trend rally through $1,275.00 levels before continuing to drift lower again. Only a break above $1,290.00 would turn the metal bullish again.

Trading recommendations:

Remain flat for now.

Good luck!

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 05, 2014 . Thanks for your support on Technical analysis of Gold for June 05, 2014

Technical analysis of EUR/JPY for June 05, 2014 Trend News

Technical outlook and chart setups:

1. As seen here, the pair has taken off immediate resistance at 139.00 levels for now. After printing highs at 139.90 levels, the pair has reversed and is seen to continue drifting lower towards at least to 138.50 levels if not further. Recommendations are to initiate short positions now, around 139.75, risk remains above 140.00; a more conservative approach would be to remain flat.

2. Support is seen at sub 138.00 levels, followed by 136.50 and lower here, while resistance is seen at 141.00, followed by 142.50/143.50, 144.00 and higher respectively.

3. The structure indicates that EUR/JPY is headed lower from current levels. A bullish reversal at 138.50/60, would bring bulls back in picture.

Trading recommendations:

Initiate short positions around 139.75, stop at 140.20, target is open.

Good luck!

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/JPY for June 05, 2014 . Thanks for your support on Technical analysis of EUR/JPY for June 05, 2014

Elliott wave analysis of EUR/NZD for June 5, 2014 Trend News

Today's support and resistance levels:

R3: 1.6285

R2: 1.6235

R1: 1.6200

Current Spot: 1.6126

S1: 1.6120

S2: 1.6092

S3: 1.6075

Technical summary:

Resistance at 1.6200 held the first attempt, but should not be able to protect the upside when the next attempt to break above this resistance takes place. Once this resistance is broken, we should see an acceleration higher towards 1.6285 as the next upside target. However, in the longer term we are looking for much higher levels towards 1.6996 and 1.7274.

Only a break below support at 1.6075 will delay the upside pressure.

Trading recommendation:

Stay long EUR from 1.5858 with your stop placed at 1.6075. If you are not long EUR yet, Then buy EUR upon a break above 1.6138 with the same stop at 1.6075.

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/NZD for June 5, 2014 . Thanks for your support on Elliott wave analysis of EUR/NZD for June 5, 2014

Elliott wave analysis of EUR/JPY for June 5, 2014 Trend News

Today's Support and Resistance Levels:

R3: 140.08

R2: 139.93

R1: 139.65

Current Spot: 139.56

S1: 139.33

S2: 139.07

S3: 138.68

Technical Summary:

Important resistance at 140.08 was in no danger yesterday. We are now looking for resistance at 139.65 to protect the upside for a break below support at 139.33 confirming the next decline towards support at 138.68 and likely even lower towards 138.10.

Only an unexpected break above 139.93 would cause a new challenge of important resistance at 140.08 and if broken, the short-term count will be changed to an unfolding triangle consolidation .

Trading receommendation:

We sold EUR at 139.49 and placed stop at 140.15. If you are not short EUR yet, then sell at 139.65 or upon a break below support at 139.33 with the same stop at 140.15.

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 5, 2014 . Thanks for your support on Elliott wave analysis of EUR/JPY for June 5, 2014

Technical analysis of GBP/CHF for June 05, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has tested 1.5070/80 resistance levels now and is expected to resume down swing towards the 1.4700 region. A push below 1.4975 would accelerate the downside, as expected. Recommendations are to remain short for now, risk remains at 1.5140 levels.

2. The immediate support is seen at 1.4900, followed by 1.4780, 1.4650, 1.4550 and lower while resistance is seen at 1.5140/50 respectively.

3. The structure indicates that GBP/CHF need to correct before resuming rally further up. Expected level is around 1.4700 for now.

Trading recommendations:

Remain short, stop at 1.5140/50, target is open.

Good luck!

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 GBP/CHF for June 05, 2014 . Thanks for your support on Technical analysis of GBP/CHF for June 05, 2014

#USDX Technical analysis for June 5, 2014 Trend News

The Dollar index is trading just below 80.70 resistance and I expect it to remain there until we hear what Mario Draghi has to say about ECB monetary policy today. The Dollar index is above the Ichimoku cloud and above the trend line support. The trend remains up as price makes higher highs and higher lows.

Bulls should be very cautious as there is increased danger to break support today and see a trend reversal. Price levels that bulls should look out for are 80.50 and 80.40. Breaking below these levels I should expect the Dollar index to at least re-test 80 if not move lower.

The daily chart shows how price is magnetised by the blue upward sloping trend line. Price is above the Ichimoku cloud support found at 80.05. A new break below the blue trend line support at 80.40 will most certainly push price towards 80. For now we remain long and bullish as long as support levels are held. If we see a clear break above 80.70 we should expect price to reach 81 fast.

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



For detail explanation and best discovery on market trends you may visit via #USDX Technical analysis for June 5, 2014 . Thanks for your support on #USDX Technical analysis for June 5, 2014

Gold Technical analysis for June 5, 2014 Trend News

Gold price has stopped the sharp decline that started from $1,300 and is now consolidating above the $1,240 support level. Gold price is moving sideways and trend is neutral. However we expect today or tomorrow Gold price to start a new trend and most probably upwards if support at $1,230 holds on.

Gold currently trades above the support level at $1,240. If this level is not broken, an upward bounce would push Gold price towards $1,264 and $1,280. An early signal will come if price breaks above $1,250. Short-term support is found at $1,230 in case we break below $1,240.

Even if Gold price makes a new lower low, I believe it will find support at the $1.230-20 price level and bounce upwards from there. I believe Gold is making a longer-term triangle pattern that will eventually bring price back towards $1,300 before plunging below $1,100. For now we concentrate on a break above $1,250 or below $1,220.

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 5, 2014 . Thanks for your support on Gold Technical analysis for June 5, 2014

Daily analysis of major pairs for June 5, 2014 Trend News

EUR/USD: This bear market has been consolidating so far this week with the support line at 1.3600. The support line at 1.3600 needs to be broken to the downside so that the bearish trend can continue. Once this is broken to the downside, the price may continue towards another support line at 1.3550.

USD/CHF: The USD/CHF has experienced a shallow bearish retracement, although the overall bias is bullish. The support level at 0.8950 should act as a barrier to further bearish retracement. It is still expected that the price would go upwards to challenge the resistance level at 0.9000 – which is our long-term objective. The economic figures coming out today would have impact on this pair.

GBP/USD: Just like the EUR/USD, this pair has also been consolidating so far this week, with no clear direction. The accumulation territory at 1.6700 was tested last week and this week. So when the bearish bias resumes again, it is more likely that the accumulation territory would be tested again; even there is a possibility that the accumulation territory would be breached to the downside.

USD/JPY: Our target at the supply level of 103.00 remains valid.At the present, there is a shallow pullback in the market: something that is expected to be temporary. When the bullish bias becomes strong again, the price may start going back to our target.

EUR/JPY: This currency trading instrument has been bullish this week, but there is currently a hollow pullback in the market. The pullback should not go below the demand zone at 139.00, so that the bullish bias may continue to be valid.

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 major pairs for June 5, 2014 . Thanks for your support on Daily analysis of major pairs for June 5, 2014