Technical analysis of USD/CAD for June 9, 2014 Trend News

General overview for 09/06/2014 08:00 CET

The corrective cycle in wave (ii) green of a larger wave C blue is getting more complex and time consuming. Currently the golden trendline provides the dynamic resistance but any breakout higher will be considered bullish. Please note that the small corrective cycle in wave *ii( green to the downside has not been finished yet and it needs one more wave to complete. This is why I indicated a possible downside levels penetration including the key level at the intraday support at the level of 1.0888. Only a clear breakout below this level will be considered bearish.

Support/Resistance:

1.0960 - Swing High

1.0947 - Intraday Resistance

1.0914 - Weekly Pivot

1.0903 - Intraday Support

1.0888 - Key Level

1.0868 - WS1

Trading recommendations:

Daytraders should consider opening short positions from current price levels with SL above the level of 1.0948 and TP at the level of 1.0903 and 1.0888.

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 9, 2014 . Thanks for your support on Technical analysis of USD/CAD for June 9, 2014

Technical analysis of USD/JPY for June 09, 2014 Trend News

Overview:

USD/JPY is expected to trade in higher range. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 80.42 versus 80.37 early Friday) and yen-funded funded carry trades amid positive risk appetite (VIX fear gauge eased 8.13% to seven-year low 10.73, S&P closed up 0.46% at all-time high 1,949.44 Friday; DJIA hit record high 16,924.28) on bigger-than-expected 216,000 increase in U.S. May non-farm payrolls (versus +210,000 forecast) and lower-than-expected May unemployment rate of 6.3% (versus 6.4% forecast), larger-than-expected $26.8 billion increase in U.S. consumer credit in April (versus forecast for $15 billion increase). USD/JPY is also supported by the demand from Japan importers, higher U.S. Treasury yields. But risk sentiment dented by the heightened concerns over domestic demand in China after surprise 1.6% on-year drop in Chinese May imports (versus forecast for 6.0% increase) which pushed the trade surplus to $35.92 billion from $18.45 billion in April (versus forecast of $23.4 billion surplus) as exports rose 7.0% (roughly in line with +7.2% forecast). USD/JPY gains are also tempered by the Japan exporter sales.

Technical comment:

Daily chart is mixed as MACD is bullish, five-day moving average is above 15-day MA and is advancing, but stochastics is bearish at overbought zone.

Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 102.80 and the second target at 103.10. In the alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 102. A breach of this target will push the pair further downwards and one may expect the second target at 101.80. The pivot point is at 102.15.

Resistance levels:

102.80

103.10

103.45

Support levels:

102

101.80

101.50

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 09, 2014 . Thanks for your support on Technical analysis of USD/JPY for June 09, 2014

Technical analysis of USD/CHF for June 09, 2014 Trend News

Overview:

USD/CHF is expected to trade in higher range. Financial markets in Switzerland are shut on Monday for public holiday. USD/CHF is supported by the positive dollar sentiment and dovish Swiss National Bank's monetary policy stance. But USD/CHF gains are tempered by the higher-than-expected Switzerland May CPI of +0.2% on year (versus +0.1% forecast); franc demand on soft EUR/CHF cross and on the buoyant CHF/JPY cross. Daily chart is still negative-biased as MACD and stochastics are in bearish mode. Five-day moving average is falling below 15-day MA.

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 0.8980. A breach of this target will move the pair further downwards to 0.8995. The pivot point stands at 0.8945. In case the price moves in the opposite direction and bounces back from the support level, and then it moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.8980 and the second target at 0.8995.

Resistance levels:

0.8980

0.8995

0.9025

Support levels:

0.8905

0.8875

0.8835

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 09, 2014 . Thanks for your support on Technical analysis of USD/CHF for June 09, 2014

Technical analysis of GBPJPY for June 09, 2014 Trend News

Overview:
GBP/JPY is to trade in higher range.It is supported by the positive risk appetite and demand from Japan importers. But GBP/JPY gains are tempered by the Japan exporter sales. 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 172.75 and the second target at 173.10. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 171.20. A breach of this target will push the pair further downwards and one may expect the second target at 170.70. The pivot point is at 171.50.

Resistance levels:

172.75

173.10

173.85

Support levels:

171.20

170.70

170

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 09, 2014 . Thanks for your support on Technical analysis of GBPJPY for June 09, 2014

Technical analysis of NZD/USD for June 09, 2014 Trend News

Overview:
NZD/USD is expected to trade in higher range after hitting seven-day high at 0.8553 on Friday. It is undermined by the positive dollar sentiment, increased concerns over China economy and Kiwi sales on buoyant AUD/NZD cross. But NZD/USD losses are tempered by the Kiwi demand on the NZD/JPY cross amid positive risk appetite and NZD/USD interest differential. Daily chart is mixed as MACD is bearish, but stochastics is rising from oversold.

Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.8555 and the second target at 0.8575. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8445. A breach of this target will push the pair further downwards and one may expect the second target at 0.84. The pivot point is at 0.8475.

Resistance levels:

0.8555

0.8575

0.8615

Support levels:

0.8445

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 09, 2014 . Thanks for your support on Technical analysis of NZD/USD for June 09, 2014

Technical analysis of USDX and USD/JPY for June 09, 2014 Trend News

USDX

The USD index paused its rally exactly at 200 weekly EMA 81 levels. The price sliced the 50 week SMA and close below it, thus giving an inital bearish sign. The index opened today in a bullish note with support 80.41 levels as for the Asian session. It looks weak below the 80.41 and is likely to correct up to 80.24, 80.17, 79.88 and 79.78 levels. On the upside, the index looks strong above 80.68 (50 weekly SMA) and 81 (200weekly EMA). It can fly up to 81.30 above the 81 level. The index can give an upside breakout above the purple trend line aiming for 82 and 84.50 levels. In the long run, 90 is possible.

USD/JPY

The pair has been in an uptrend from 100.83, having exactly taken the support from the weekly 50 SMA and moving to the descending upper trendline. The pair can give an upside break out only above 103 levels, aiming for 107.68 levels. On the downside, it has supports at 102, 101.45 and 100.75 levels.

The pair looks weak below 102.34. It can extend its fall up to 102.20, 102.10 and 101.65 levels. On the upside, the pair would face resistance between 102.76-102.80 levels. Bull's strength would regain above 102.80 aiming for 103.02, 103.11, 103.20 and 103.60 levels. A day close is seen below 102.10. The weakness would double aiming for the downside targets 101.75 and 101 levels.

For intraday, the pair looks weak below 102.40 (21 hours EMA) levels. It is likely to fall up to 102.20, 102.10 and 102 levels below the 21 hour EMA. The panic mode would occur below 102 and continue up to 101.75 and 101.40 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 Technical analysis of USDX and USD/JPY for June 09, 2014 . Thanks for your support on Technical analysis of USDX and USD/JPY for June 09, 2014

Technical analysis of EUR/USD for June 09, 2014 Trend News

When the European market opens, some economic news will be released such as Sentix Investor Confidence. The US will not release any economic data for today, so amid the reports, EUR/USD will move low volatility today.



TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3714.

Strong Resistance:1.3705.

Original Resistance: 1.3692.

Inner Sell Area: 1.3679.

Target Inner Area: 1.3646.

Inner Buy Area: 1.3613.

Original Support: 1.3600.

Strong Support: 1.3587.

Breakout SELL Level: 1.3578.

DESCRIPTION:
Today EUR/USD has support and resistance at 1.3600 and 1.3692. The rate is accompanied by strong support at 1.3587 and by 1.3705 as strong resistance.

If EUR/USD breaks out and closes below the 1.3578 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3714 level, 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 1.3613 and a SELL position at 1.3679. In this case, both targets should be placed at the level of 1.3646.

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 09, 2014 . Thanks for your support on Technical analysis of EUR/USD for June 09, 2014

Technical analysis of gold for June 09, 2014 Trend News

The yellow metal has been trading bearish. The metal is holding February's low and has moved a bit higher. On the broader view, the metal seems to weaken again only below $1,240 levels. The panic button would take place below $1,237.30 for $1,210 (200monthly EMA). Until the monthly low saves the metal, it can climb up to $1,268 (21 days EMA) and $1,280 (40days EMA) with an intermediate resistance at $1,260 levels.

Sell on the rally until it closes a week above $1,296. Sell below $1,237.70 for $1,213-$1,210 levels.

In the daily chart, the metal has been making a base at $1,240 levels. We recommended to sell only below $1,237.70 as was mentioned in our previous articles. We are using the same strategy during this week.

As far as the metals favors to buy on the dip with sl $1,237.70, the strong momentum is to take place only above $1,260 levels. Bears would regain the strength above $1,260 for $1,268, $1,279.75 and $1,288 levels.

For intraday, the metal looks weak below $1,250 levels. Traders can sell below $1,250 for $1,245 levels. It looks strong above $1,254 for $1,257, $1,260 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 Technical analysis of gold for June 09, 2014 . Thanks for your support on Technical analysis of gold for June 09, 2014

Forecast and weekly analysis of EUR/USD for June 09-13, 2014 Trend News

The pair pushed lower towards the 40 month EMA and 38.2 fib level from the top end of the channel. On the downside, the pair has a support zone between 1.35-1.3477. During the previous week, we recommended to buy with sl 1.3477. After the ECB decision, the pair moved to 1.3470 levels, but was unable to hold its gains. We expect the pair to be in another round of selling only below 1.3477 for target 1.3374 (50 monthly SMA). The short-term reversal would take place only above 1.3732. The longer trend reversal would take place above 1.40 for an inital target 1.4385 levels.

Sell only below 1.3460 for 1.3374 and 1.32. Bulls last hope with sl 1.3477

In the weekly chart, the pair chopped the 50 week SMA and slashed to a 4 month low. But it well managed to close above the 50 week SMA. If we go through the micro view in the weekly chart, we can observe the pair has been taking support at 40 weeks EMA on a closing basis. In Asia's session the pair opened above the 40 weeks EMA. In case the initial support at 1.3622 breaks below, it is seen to fall up to 1.3572, 1.35 and 1.3477 levels.

Thw weekly support level exists at 1.35, a reversal trade takes place below 1.3460 for 1.3416, 1.34 and 1.3374 levels. Bull's strength is above 1.367 for 1.3735 and 1.3775 levels.

The pair has been trying to breach the 200 days SMA, but finally succeeded and closed above it last Thurday and Friday as well. But today in Asia's session it opened below it. The pair was unable to cross the 200 day SMA 1.3650. On the downside, it has support at 1.3620 levels. Traders can sell below 1.3618 for 1.3585, 1.3560, 1.3550, 1.3520, 1.35 and 1.3477. Bulls can regain their strength only above 1.3650 if the pair touches 1.3670, 1.3683 and 1.37 levels.

Intraday recommendations: 1.3644 cmp

Sell below 1.3618

Buy above 1.3650

Positional sell below 1.3460

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 and weekly analysis of EUR/USD for June 09-13, 2014 . Thanks for your support on Forecast and weekly analysis of EUR/USD for June 09-13, 2014

Technical analysis of USD/JPY for June 09, 2014 Trend News

In Asia, Japan will release its Current Account, Final GDP q/q, Bank Lending y/y, Final GDP Price Index y/y, Consumer Confidence, and Economy Watchers Sentiment. Meanwhile, the US will not release any economic data today. So there is a big probability the USD/JPY will move with low volatility today.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 103.06.

Resistance. 2: 102.86.

Resistance. 1: 102.66.

Support. 1: 102.41.

Support. 2: 102.21.

Support. 3: 102.01.

DESCRIPTION:

Please, pay attention to the levels of support 3 (102.01) and resistance 3 (103.06). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.



Best regards,

Arief Makmur

Official Analyst of InstaForexGroup

InstaForex Group http://instaforex.com

email: Arief.jakarta@indo.instaforex.com

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

My profile: http://www.mt5.com/forex_analysis_award/profile/index/arief



Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for June 09, 2014 . Thanks for your support on Technical analysis of USD/JPY for June 09, 2014

Daily analysis of USDX for June 09, 2014 Trend News

Daily chart: The USDX continues trying to make a consolidation above the 200-day moving average, but the USDX remains moving sideways in the middle of this level. It is advisable to be cautious when placing buy orders, while the USDX remains below the resistance level of 80.62. The MACD indicator is entering negative territory.

H4 chart: The USDX has found support at the 80.35 level and now it is likely that the USDX will try to break out at that level. If successful, it is expected to fall to the level of 80.15. However, if the USDX does make a bullish breakout in the trendline that is above the resistance level of 80.60, it's expected to rise to the level of 81.50 in the medium term. The MACD indicator is in negative territory.

H1 chart: The USDX continues to move sideways below the 200 SMA. For now, the USDX is concentrating its efforts on a breakout in the support level of 80.35. If sucessful, the USDX could strengthen the bearish trend and fall to the level of 80.15. The MACD indicator is entering neutral 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 09, 2014 . Thanks for your support on Daily analysis of USDX for June 09, 2014