Technical analysis of EUR/JPY for June 18, 2014 Trend News

General overview for 18/06/2014 07:45 CET

The market is climbing up to the level of weekly pivot and supply zone and this makes this level very important resistance. The bias is bullish and a breakout higher is being expected, even out of the red upswing channel. A possible trigger for such a move could be the important news event later today. Please notice that this red impulsive count is valid as long as there is no new low made below the level of 137.70.

Support/Resistance:

137.70 - Wave 2 low

138.27 - Intraday Support

138.44 - Intraday Resistance

138.54 - Weekly Pivot

138.49 - 138.59 - Supply Zone (old)

139.36 - WR1

Trading recommendations:

Still the buy positions from yesterday should be kept open with the same valid SL and TP. More buy orders can be added to the existing ones if the level of 138.60 is broken and a minimum hourly candle has closed above this level. The first target is WR1 at the level of 139.36 with a possible upward extension.

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Technical analysis of AUS/USD for June 18, 2014 Trend News

The pair has been in a down trend from 1.1029 levels. It was rejected at 200-day EMA and beaten very badly. The pair chopped the breakout trend line and closed below the 50-day Sma. Curently, the pair has support at 1.0759 levels. We expect the next fall will be only below 1.0759 levels. Below 1.0759, it will fall to 1.0742 and 1.0640 levels. For a positional basis, until the pair closes below 1.0844, selling on the rallies is the best strategy. On the up side, the pair has strong resistance at 1.0790. Buyers get a chance to buy above 1.0790 for 1.0830 and 1.0844 levels.

For an intraday basis, in Asia's session the pair is trading at 1.0775 levels. The pair has support at 1.0760 levels. On the up side, it has resistance at 1.0793 (35 H Dema). Above this, it can fly up to 1.0820 (21 Hr Sma), 1.0833 levels. The hourly momentum oscillators favor pullback side.

Buy above 1.0793.

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Technical analysis of USD/JPY for June 18, 2014 Trend News

The pair has been in an uptrend from 101.60 levels. It pauses the rally at the descending trend line. We expect the next up move will take place only above 102.25 levels. Until it crosses that, we can see selling pressure. On the down side, the pair has support at 102.10, 102 and 101.90 levels. Once it breaks below that 101.90, selling pressure will become active and may take the pair towards 101.82, 101.70 and 101.60 levels. Today, 101.60 will act as the bulls fate zone, if this level is taken off, the pair will shift the mode to free fall up to 101.40, 101.30 and 101 levels.

On the bullish front, if the pair manages to breach the 102.25 resistance level, it can extend its up leg to 102.40, 102.57 and 102.65 levels.

Sell with sl 102.25 or buy above 102.25.

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Technical analysis of gold for June 18, 2014 Trend News

GOLD

Traders eye the FOMC meeting and US inflation data. The US Fed is widely expected to cut another $10 billion from its monthly bond-purchasing program. Gold pulled back from the lower levels and paused its rally at 50-day SMA. Currently, it is trading at $1,270.50 levels.

As we recommended in our previous article, the fresh buying will take place only above $1,289 levels, but it made a high at $1,284.50 and corrected to 61.8 fib level. On the down side, the support levels are at $1,257.50 levels, below this, the bears can take the metal towards $1,250, $1,245.50 and $1,240 levels. On the other front, the metal has a rough road ahead between $1,285.50, 50-days SMA ($1,2288), 200-day SMA (orange line). Once the metal starts trading above the trend line, it can spike up to $1,297 (50-week SMA) and $1,309 (200-day EMA) levels to retest the broken trend line.

Positional-

Sell below $1,257.50. Buy above $1,289.

Intraday-

In yesterday's pull back the metal faced resistance at 21 Hr Sma and 34 Hr SMA ($1,272.80). The bulls will be back on track only above this, we prefer to buy above $1,273 levels for $1,274.90, $1,277.50 and $1,280.10 levels. On the down side, it has support at 35 HDEMA ($1,268 levels). We expect a sign of weakness below $1,267.50, bears can take the metal towards $1,262, $1,258.50, and $1,257.50. The panic selling will take place below $1,257.50 levels.

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Technical analysis of USD/CAD for June 18, 2014 Trend News

USD/CAD

The pair has been in a down trend from the 1.0875 levels. The pair was rejected at 34Hr SMA and move below the previous swing low. Today in Asia's session, the pair exactly met the 34 Hr SMA at 1.0866 (23.0 fib levels) and started trading below that. On the down side, it has support at 1.0858 (21 Hr Sma) and 1.0850 (35 h Dema). Once break below the 1.0848 the pair will face selling. The pair favors to buy on the dips. On the other side, if it starts trading above the descending trend line, it can move up to 1.0875,1.0880, 1.09 and 1.0910 levels.

We prefer to buy above the 1.0870 levels, and strong momentum is above 1.0882 levels.

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Technical analysis of GBP/USD for June 18, 2014 Trend News

GBP/USD

The cable started moving towards the south from 1.7011 levels. We recommended to go long only above 1.7045 or hold shorts with sl 1.7043. The pair moved towards 23.6 fib level (from 1.6699 to 1.7011). In Asia's session, the pair faces resistance at 1.6967 (21 Hr Sma), 1.6980 (35 H Dema) and 1.6994 levels. On the down side, it has support at 1.6938 levels. Bears will be back on track below 1.6938 for 1.6922, 1.6915 and 1.69 (34 Hr Sma), 1.68 and 1.6780 levels. This bearish view is valid with sl 1.7043 levels. On the up side, once the pair crosses 1.7045, it can fly up to 1.7068, 1.71 and 1.7140 levels.

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Technical analysis of Silver for June 18, 2014 Trend News

Technical outlook and chart setups:

1. Silver is bouncing off the $19.50 levels which is the back side of resistance turned support line as seen here. A push above the $20.00 mark would more or less confirm that bulls want to stay for long and $20.40 would remain immediate target.

2. Support is seen at $19.50 (interim), followed by $19.00, $18.50/60, $18.20 and lower while resistance is at $20.40, followed by $21.70 and higher respectively.

3. The structure indicates that Silver is bearish below $20.40. A break there would change the trend to bullish.

Trading recommendations:

Remain flat for now. Watch for a reaction at the $20.00 levels.

Good luck!

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Technical analysis of EUR/JPY for June 18, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair is trading around 138.30/40 levels for now and is still well below the immediate resistance around 140.00 levels as seen. Bears shall remain in control until prices stay below the 140.00 for now. Recommendations are to sell rallies through 139.00.

2. Support is seen at 136.50, followed by 134.00 and lower while resistance is at 140.00, followed by 141.00, 142.50/143.50 and higher up respectively.

3. The structure indicates that EUR/JPY needs to at least take out 140.00 levels to come back into buy zone. For now, bears remain in control.

Trading recommendations:

Remain flat for now. Look to sell higher up.

Good luck!

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Technical analysis of EUR/USD for June 18, 2014 Trend News

When the European market opens, some economic news will be released such as German 10-y Bond Auction. The US will release the economic data too such as the Current Account, Crude Oil Inventories, Federal Funds Rate, so amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3613.

Strong Resistance:1.3605.

Original Resistance: 1.3592.

Inner Sell Area: 1.3579.

Target Inner Area: 1.3547.

Inner Buy Area: 1.3515.

Original Support: 1.3502.

Strong Support: 1.3489.

Breakout SELL Level: 1.3481.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3502 and 1.3592. The rate is accompanied by strong support at 1.3489 and by 1.3605 as strong resistance.

If EUR/USD breaks out and closes below the 1.3481 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3613 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 1.3515 and at 1.3579, a SELL position. In this case both targets should be placed at the level of 1.3547. 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.

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Technical analysis of USD/JPY for June 18, 2014 Trend News

In Asia, Japan will release the Monetary Policy Meeting Minutes and Trade Balance. The US will release some economic data such as Current Account, Crude Oil Inventories, Federal Funds Rate. 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: 102.67.

Resistance. 2: 102.47.

Resistance. 1: 102.27.

Support. 1: 102.02.

Support. 2: 101.82.

Support. 3: 101.62. DESCRIPTION:

Please, pay attention to the levels of support 3 (101.62) and resistance 3 (102.67). 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.

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Daily analysis of USDX for June 18, 2014 Trend News

Daily chart: The USDX has made a bullish rebound at the 200-day moving average, so the USDX remains below the resistance level of 80.62. If the USDX manages to consolidate above this level, it would be expected to rise to the level of 81.05, which is close to the current level of the USDX resistance level. The MACD indicator is in negative territory.

H4 chart: The USDX made a bullish rebound near the support level of 80.34 and now the USDX is trying to form a bullish pattern above the 80.60 level. If the USDX does make a breakout on the resistance level of 80.85, it's expected to rise to the level of 81.02. The MACD indicator is in positive territory.

H1 chart: The USDX has established back above the 200-day moving average and now the USDX is trying to form a bullish pattern above the support level of 80.73. If the USDX does make a breakout on the resistance level of 80.73, it's expected to rise to the level of 80.93. 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 80.59, take profit is at 80.35, and stop loss is at 80.83.

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Daily analysis of GBP/USD for June 18, 2014 Trend News

Daily chart: The GBP/USD has made a little pullback on the resistance level of 1.7000, so now this pair is forming a bullish pattern. Probably for the rest of the week, the GBP/USD will perform sideways movements to strengthen the bullish pattern further. However, if the pair manages to make a breakout at that level, it would be expected to rise to the level of 1.7169. The MACD indicator is in positive territory.

H4 chart: The GBP/USD continues to move in low range below the resistance level of 1.6995. If the pair manages to make a breakout at that level, it would be expected to rise to the level of 1.7105, which would be a bullish consolidation. However, if the GBP/USD manages to make a breakout at the support level of 1.6900, it's expected to fall to the level of 1.6841. The MACD indicator is in negative territory.

H1 chart: The GBP/USD has fallen to the support level of 1.6950, where the pair is forming a point of control. If GBP/USD manages to make a breakout at that level, it would be expected to fall to the support level of 1.6900, which would approximate the 200 SMA. MACD is entering neutral territory.

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 1.7000, take profit is at 1.7050, and stop loss is at 1.6950.

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Technical analysis of USD/JPY for June 17, 2014 Trend News

Overview:

USD/JPY is expected to trade with risks skewed lower. It is undermined by selling of yen crosses amid diminished investor risk appetite (VIX fear gauge rose 3.86% to 12.65, U.S. stocks closed near the flat line overnight with DJIA up 0.03%, S&P 500 up 0.08%) as escalating conflict in Iraq, fresh tensions between Russia and Ukraine, cut in IMF's forecast for U.S. economic growth this year to 2% from 2.8%, and caution before Wednesday's FOMC monetary policy decision, surprise rise in U.S. Empire State's business conditions index to 19.28 in June from 19.01 in May (versus forecast for drop to 15.0), stronger-than-expected 0.6% on-month increase in U.S. May industrial production (versus +0.5% forecast), higher-than-expected rise in U.S. capacity utilization to 79.1% in May (versus 78.9% forecast) from 76.7% in April, stronger-than-expected rise in U.S. NAHB housing market index to 49 in June from 45 in May (versus 47 forecast). USD/JPY is also weighed by Japan's export sales and broadly weaker USD undertone (ICE spot dollar index last 80.45 versus 80.63 early Monday). But USD/JPY losses tempered by demand from the Japanese importers.

Technical comment:

Daily chart is negative-biased as MACD and stochastics are bearish, five-day moving average is below 15-day MA and is declining.

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 102.40 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 101.75. A breach of this target will push the pair further downwards and one may expect the second target at 101.55. The pivot point is at 101.90.

Resistance levels:

102.40

102.65

102.80

Support levels:

101.75

101.55

101.45

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Technical analysis of USD/CHF for June 17, 2014 Trend News

Overview:

USD/CHF is expected to trade in a lower range after hitting seven-day high at 0.9013 on Monday. It is undermined by the broadly weaker USD undertone and spillover strength from rebounding EUR on CHF. But USD/CHF losses are tempered by the dovish Swiss National Bank's monetary policy stance. Daily chart is mixed as MACD and stochastics are turning bearish, but five- and 15-day moving averages are still advancing.

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 0.8955. A breach of this target will move the pair further downwards to 0.8940. The pivot point stands at 0.9015. 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 0.9035 and the second target at 0.9060.

Resistance levels:

0.9035

0.9060

0.9085

Support levels:

0.8955

0.8940

0.89

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Technical analysis of NZD/USD for June 17, 2014 Trend News

Overview:

NZD/USD is expected to consolidate. It is supported by the Reserve Bank of New Zealand's signal of more rate increases in coming months and the Kiwi demand on soft AUD/NZD cross and broadly weaker USD undertone. But NZD/USD upside is limited by the subdued risk appetite. Daily chart is still positive-biased as five-day moving average is above 15-day MA and is advancing, MACD and stochastics are bullish, although latter is at overbought.

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 0.8680 and the second target at 0.8710. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8565. A breach of this target will push the pair further downwards and one may expect the second target at 0.8525. The pivot point is at 0.8620.

Resistance levels:

0.8680

0.8710

0.8745

Support levels:

0.8565

0.8525

0.8475

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Technical analysis of GBPJPY for June 17, 2014 Trend News

Overview:

GBP/JPY is expected to trade in a higher range. It is supported by the rebounding of EUR/USD and demand from the Japanese importers. But GBP/JPY gains are tempered by the receding risk appetite and Japan's export sales. Daily chart is mixed as MACD is bearish, five-day moving average is below 15-day MA and is declining, 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 173.90 and the second target at 174.25. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 171.85. A breach of this target will push the pair further downwards and one may expect the second target at 171.40. The pivot point is at 172.30.

Resistance levels:

173.90

174.24

174.75

Support levels:

171.85

171.40

171

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Daily analysis of silver for June 17, 2014 Trend News

Overview

As shown from the today's H4 chart, the metal is stabilizing between the support level of 19.50 and the resistance level of 19.90 after its failure to break the support level again. Currently, we must wait for re-testing the support level of 19.50 again and closing below in order to get the bearish move opportunity. In that case, we will get a good opportunity to sell below the support level till testing the next support level of 19.20. Therefore, we can consider our first target few pips above this support level, but as long as the price is still above the support level of 19.50 this cancels the bearish move scenario.

Resistance and support levels: R3 (20.50), R2 (20.20), R1 (19.90), S1 (19.50), S2 (19.20), S3(19.00)

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EUR/NZD analysis for June 17, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading sideways, around the price of 1.5660, we are waiting for larger volume and larger movement. According to the Daily timeframe, we can observe another weak demand and no demand bar, so buying at this stage looks risky. Since our Fibonacci expansion 100% at the price of 1.5665 has got broken, we may see possible testing the level of 1.5335. According to the previous price action, we have got a resistance level at the price of 1.5745 (previous swing low like resistance). Anyway, if the price breaks the level of 1.5560 on higher volume, we may see more downward movement. According to the 30-minute timeframe, we can observe buying climax, which is a sign that buying looks risky. Watch for selling opportunities after retracement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5650

R2: 1.5669

R3: 1.5700

Support levels:

S1: 1.5589

S2: 1.5570

S3: 1.5539

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

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Gold analysis for June 17, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards, the price tested the level of 1,258.69. As you can see in the graph, the price rejected successfully from our resistance level at 1,283.00 (swing low like resistance). I have placed Fibonacci retracement to find potential support levels and I got Fibonacci retracement 61.8% at the price of 1,257.60 (currently on the test). According to the 4H timeframe, we can observe bullish reaction from our Fibonacci retracement 61.8%, which is a sign that we may see possible bullish movement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,282.55

R2: 1,285.99

R3: 1,291.57

Support levels:

S1: 1,271.39

S2: 1,267.95

S3: 1,262.32

Trading recommendation: Be careful with selling at this stage since the price is on the Fibonacci level.

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EUR/AUD intraday technical levels and trading recommendations for June 17, 2014 Trend News

By breaking down price level of 1.5175, the Double Top pattern could not only achieve its projection target at 1.4820-1.4800, but it also confirmed a bigger Head and Shoulders pattern.

The bears managed to break down 1.4950 then 1.4750 corresponding to 50% and 61.8% Fibonacci levels respectively.

Previously, a bullish pull-back was initiated off 1.4670 ( around 61.8% Fibonacci ). Two bullish spikes above 1.4950 (50% Fibonacci level on the daily chart) were executed. However, the bulls failed to pursue the bullish breakout leading to failure of the bullish breakout attempt.

Moreover, Intraday support zone around 1.4750-1.4660 failed to provide enough support for the pair. Instead, bearish breakdown took place pushing towards 1.4500 then 1.4400.

Since then, the pair has been moving within the depicted RED channel in an attempt to reach the lower limit located roughly around 1.4320.

On the other hand, as expected, price zone around 1.4375-1.4420 showed bullish recovery which is taking place this week after such a strong bearish move.

Note that failure of the bulls to provide enough buying pressure to pause the ongoing bearish momentum at the current levels, will probably expose 1.4300 for retesting.

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GBP/USD intraday technical levels and trading recommendations for June 17, 2014 Trend News

Bullish breakout above the symmetrical triangle took place thus exposing price levels around 1.6985 as a projection target.

Simultaneously, daily closure above 1.6820 took place enhancing bullish impulse towards 1.6900 and 1.7000.

The GBP/USD bulls are now challenging Psychological resistance around 1.7000 which got visited before on May 6 when extensive bearish pressure was applied then.

A bearish corrective movement is now expected to take place towards 1.6830-1.6860 as long as the recent high around 1.7000 remains defended by the bears.

Price levels of 1.6860 constitutes a significant support level to meet the pair on its way downwards.

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Intraday technical levels and trading recommendations on GBP/JPY for June 17, 2014 Trend News

Recent bottoms were established around 169.55 and 171.05 (corresponding to the lower limit of the depicted bullish channel).

These bottoms prevented further bearish decline and provided enough buying pressure to keep pushing higher.

Yesterday, the bulls have reached the upper limit of the depicted channel located roughly at 173.30 where bearish recovery originated.

Signs of bearish domination are manifested on the 4H chart. That's why, the GBP/JPY pair remains bearish as long as price level of 173.40 remains defended by the bears.

On the other hand, a bullish breakout above this level exposes 173.90 and 174.50 to be visited shortly after.

The nearest demand level to meet the pair is located around 172.35 where a prominent broken-top is located.

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Elliott wave analysis of EUR/NZD for June 17, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.5753

R2: 1.5704

R1: 1.5679

Current spot: 1.5660

S1: 1.5639

S2: 1.5614

S3: 1.5565

Technical summary:

Blue wave iv did become more complex as we expected. However, with the return to 1.5683 blue wave iv could be over any time now, which a break below 1.5634 will confirm calling for a continuation lower in blue wave v towards 1.5447 with the possiblility of a move even lower to 1.5296 if blue wave v extends.

As long as minor support at 1.5634 protects the downside, we could still see a move slightly above 1.5683, but do not expect too much.

Trading recommendation:

We will sell here at 1.5660 with a stop at 1.5700 and place take profit at 1.5465.

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Elliott wave analysis of EUR/JPY for June 17, 2014 Trend News

Today's Support and Resistance levels:

R3: 138.93

R2: 138.68

R1: 138.52

Current spot: 138.32

S1: 138.10

S2: 137.95

S3: 137.70

Technical summary:

Well we needed one last minor low at 137.70 before the bottom of blue wave (b) was finally in place. The rally of the 137.70 low has been in five wave calling for more upside, once this minor correction is over. In the short term we will look for support at 138.25, which ideally will protect the downside for a break above 138.52 for a continuation higher towards 139.37.

However, if minor support at 138.25 is broken, then it will delay the immediate upside action for a slightly deeper correction towards 138.11 before trading higher again.

Trading recommendation:

We are long in EUR from 138.40 with stop at 137.65. If you are not long in EUR yet, then buy upon a break above 138.52 with the same stop at 137.65.

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Technical analysis of NZD/USD for June 17, 2014 Trend News

Overview :

• The NZD/USD pair will be continued straight from the level of 0.8636 in H4 chart. The level of 0.636 is coinciding with the ratio of 61.8% of Fibonacci retracement levels. Therefore, the Kiwi is showing signs of strenght following the break of the highest level of 0.8630, so it will be a good sign to buy above the level of 61.8% of Fibonacci retracement levels in H4 chart with the first target of 0.8690 and further to 0.8732. Also, it should be noted that the 0.8732 price will act as strong resistance for that it is going to be a good place to take profit. Moreover, note that this level of taking profit will coincide at 88.2% of Fibonacci.


• However, in case of reversal takes place and the NZD/USD breaks through the support level of 0.8590, the market will lead to further decline to 0.8550, in order to indicate a bearish market.

Intraday technical levels :

Date: 17/06/2014

• Projected high: 0.8805


• Breakout (buy stop): 0.8750


• Strong resistance (sell limit): 0.8720


• Current pivot: 0.8681


• Strong support (buy limit): 0.8642


• Breakout (sell stop): 0.8617


• Projected low: 0.8567

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Technical analysis of USD/CHF for June 17, 2014 Trend News

Overview :

• The USD/CHF pair is going to set strong resistance at the level of 0.9030 and support stands at 0.8921 today. Equally important, the price has still been moving around the key level at 0.8984 since yesterday. Moreover, the USD/CHF pair has still been below 100% of Fibonacci retracement levels since June 4, 2014. Another thought, the RSI calls for downtrend. As a result, the price has already formed the strong resistance at this spot of 0.9030 and it is now approaching it in order to test it. Therefore, the USD/CHF pair will get a downside momentum rather convincing and the structure of the fall does not look corrective, for indicating a bearish opportunity below the 0.9030 level for that it will a good sign to sell below 0.9030 with the first target of 0.8990 (this level is coinciding with the daily pivot point) and it will call for downtrend for continuing bearish towards 0.8925 (the weekly support 1).

Intraday technical Levels:

Date and Time: 17/06/2014 11:30

Pair: USD/CHF

• R3: 0.9049


• R2: 0.9030


• R1: 0.9001


• PP: 0.8982


• S1: 0.8953


• S2: 0.8934


• S3: 0.8905

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#USDX Technical analysis for June 17, 2014 Trend News

The Dollar index despite breaking below 80.50 support was not sold off but was instead supported at 80.40. This marginal new low while price is trading again back above 80.50 means that we are still in a corrective pattern that needs time to complete.

The Dollar index is most probably forming a triangle and is supported at 80.40. Price is below the Ichimoku cloud. Short-term resistance is found at 80.70. It is preferred to stay neutral as chosing a side right now will most probably lead to losses. In a corrective phase like the one we are currently in, the best thing to do is to wait in the sidelines before a clear break out gives you a strong signal.

The Dollar index is conoslidating near its highs. Important support is found in the daily chart at 80.25 where the 38% Fibonacci retracement is. Breaking below that level will push price towards the 50% retracement or even the 61.8% retracement. Ichimoku cloud support is far below current prices towards 79.75.

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Technical analysis of Gold for June 17, 2014 Trend News

Technical outlook and chart setups:

1. Gold reverses from convergence of the following: i) Trend line resistance, ii) Fibonacci 0.618 resistance and iii) Support turned resistance at sub $1,280.00 levels. Recommendations are to remain short for now, risk remains at $1,300.00.

2. Support is at $1,245.00, followed by $1,240.00, $1,230.00, $1,210.00 and lower, while resistance is at $1,300.00, followed by $1,310.00, $1,330.00 and higher respectively.

3. The structure indicates that Gold may break below $1,240.00 and subsequently $1,180.00 in the sessions to come.

Trading recommendations:

Remain short, stop at $1,300.00, target is open.

Good luck!

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Technical analysis of EUR/JPY for June 17, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair remains vulnerable 140.00 resistance remains in place. The pair might be heading towards a complex correction below 136.50 levels. Recommendations are to sell rallies for now.

2. Support is at 137.80/90 (interim), followed by 136.50, 134.00 and lower while resistance is seen at 140.00 followed by 141.00, 142.50/143.50 and higher up respectively.

3. The structure indicates that EUR/JPY bears shall remain in control below 140.00 levels for now.

Trading recommendations:

Remain flat. Look to sell higher.

Good luck!

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Technical analysis of USD/CAD for June 17, 2014 Trend News

General overview for 17/06/2014 08:20 CET

New marginal lows has been made overnight on this pair as the corrective cycle is still in progress. The golden channel still acts as dynamic resistance and the market must break out of this channel to confirm the bullish wave progression to start. Otherwise new lows are possible and any break below the level of 1.0812 invalidates the count. Please notice that the market might be waiting for the Wednesday Fed meeting before making an important move.

Support/Resistance:

1.0805 - WS1

1.0812 - Wave B Low

1.0821 - Technical Support

1.0835 - Intraday Support

1.0870 - Intraday Resistance

1.0872 - Weekly Pivot

1.0884 - First Confirmation Level

1.0904 - WR1

Trading recommendations:

Stop loss orders from yesterday have been triggered on buy orders, so currently no new positions are advised until a clear pattern will emerge or the market will break out above the important level. Patience.

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