Technical analysis of EUR/JPY for June 26, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY is stalling around 139.00 levels at the moment, which is also fibonacci 0.50 resistance as seen here. A push above 139.00 here, would test the 139.30/40 levels which is fibonacci 0.618 resistance and trend line confluence.

2. Support is around 137.70/75, followed by 136.50, 134.00 and lower, while resistance is at 139.30/40, followed by 140.00, 141.00 and higher up respectively.

3. The structure indicates that EUR/JPY should be in control of bears until prices remain below 140.00.

Trading recommendations:

Remain flat for now. Look to sell the rally around 139.20/30.

Good luck!

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Technical analysis of EUR/USD for June 26, 2014 Trend News

When the European market opens, there is no economic news to be released in the Euro Zone. The US will release the economic data such as the Core PCE Price Index m/m, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Natural Gas Storage, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3694.

Strong Resistance:1.3686.

Original Resistance: 1.3673.

Inner Sell Area: 1.3660.

Target Inner Area: 1.3628.

Inner Buy Area: 1.3596.

Original Support: 1.3583.

Strong Support: 1.3570.

Breakout SELL Level: 1.3562. DESCRIPTION:

Today EUR/USD has support and resistance at 1.3583 and 1.3673. The rate is accompanied by strong support at 1.3570 and by 1.3686 as strong resistance.

If EUR/USD breaks out and closes below the 1.3562 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3694 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 1.3596 and at 1.3660, a SELL position. In this case both targets should be placed at the level of 1.3628.

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 26, 2014 Trend News

In Asia, Japan will not release any news, but the US will release some economic data such as Core PCE Price Index m/m, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.26.

Resistance. 2: 102.06.

Resistance. 1: 101.86

Support. 1: 101.61.

Support. 2: 101.41.

Support. 3: 101.21. DESCRIPTION:

Please, pay attention to the levels of support 3 (101.21) and resistance 3 (102.26). 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.

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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Short-term forecast and intraday recommendations on USD/CAD for June 26, 2014 Trend News

USD/CAD-

Short term- The pair is consolidating at 1.0716 levels. It keeps on testing the support and succeeded in holding the support. The daily momentum oscillators are indicating an oversold level, they helped the pair not to hit the 1.0716 levels. If the pair breaks the current support, it has an immediate support zone between 1.0711-1.070 levels. We are completely bearish below 1.070 levels for a downside target at 1.068, 1.0650 and 1.0630, in the least case the 1.060 levels for the rest of the year. The bulls will get charged above 1.0761 (this week's high) levels.

For an intraday purpose, the hourly RSI is indicating a positive divergence, likely limited downside fall. The pair is trading at the lowest point of the day. It has support between 1.0716-1.0711. Traders can buy at cmp or even at a dip with sl 1.070. We recommend to sell only below 1.07 levels. On the upside, it has an initial resistance at 1.0726 and 1.0735. We can see strong momentum above these levels for 1.0752, 1.0761 and 1.077. Huge spike above 1.077 for 1.0826-1.0834 levels. In Asia's session, it opened on a minor bullish note lower at 1.0720 levels.

NOTE- cmp 1.0723.

Buy between cmp- 1.0716-1.0710 sl 1.070 with targets 1.0735, 1.0752, 1.0761 and 1.077.

Sell below 1.070.

This trade requires significant patience. Please trade with levels and patience as well.

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Daily analysis of USDX for June 26, 2014 Trend News

Daily chart: The USDX continues to find support on the level of 80.11, which is located below the 200 SMA. Now the USDX could perform a bullish rebound above that level and try to climb up to the resistance level of 80.62. If the USDX does make a breakout at that level, it would be expected to rise to the level of 81.50. The MACD indicator is in negative territory.

H4 chart: The USDX has made a bullish rebound above the support level of 80.09, while the USDX is trying to make a breakout at that level, because the USDX is below the 200 SMA. If the USDX makes a breakout at the support level of 79.93, it's expected to fall to the level of 79.33. The MACD indicator is in negative territory.

H1 chart: The USDX is trying to form a bearish pattern below the 200 SMA and the resistance level of 80.35. If the USDX does make a breakout at the level of 80.15, it's expected to fall to the level of 79.88, which would be a bearish consolidation. The MACD indicator is moving into positive 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 80.15, take profit is at 79.88, and stop loss is at 80.42.

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Daily analysis of GBP/USD for June 26, 2014 Trend News

Daily chart: The GBP/USD stays below the resistance level of 1.7000, because during yesterday's session, the pair had no major changes. Now, the GBP/USD is trying to stay alive in the bullish outlook, because this pair remains above the 200 SMA. MACD indicator is in the overbought zone and entering neutral territory.

H4 chart: The GBP/USD continues to find resistance at the 1.6995 level. Now this pair is trying to make a breakout at that level, although it is likely to fall to the 200-day moving average, which is near the level of 1.6900. For now, the GBP/USD remains strong in the bullish bias. The MACD indicator is entering oversold zone.

H1 chart: This pair is again finding support in the 200 SMA, which is forming a point of control. If GBP/USD manages to make a breakout on the resistance level of 1.7000, it's expected to rise to the level of 1.7050. For now, we recommend caution when placing sell orders at current levels. The MACD indicator 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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Daily analysis of GBP/JPY for June 25, 2014 Trend News

Overview

In 4H chart, closing below the resistance level of 173.50 gives the price an opportunity for a slightly bearish move again. As it is shown here, currently the price is trying to continue its bearish move by breaking the support level of 172.75 and closing 4H below which is tested now. In that case, we may get another opportunity for more sell signals and it opens the way towards 172.00, as first target, and then the price should test the support level of 172.00 to continue its bearish move. But as long as the price stabilizes above the support level of 172.75 it cancels the first scenario.

Resistance and support levels: R3 (174.40), R2 (174.00), R1 (173.50), S1 (172.75), S2 (172.00), S3 (171.50).

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Technical analysis of USD/JPY for June 25, 2014 Trend News

Overview:

USD/JPY is expected to trade in a range. It is supported by the positive dollar sentiment (ICE spot dollar index last 80.32 versus 80.27 early Tuesday) after stronger-than-expected rise in Conference Board U.S. consumer confidence index to 85.2 in June - highest since January 2008 from 82.2 in May (versus 83.5 forecast) and larger-than-expected 18.6% increase in U.S. new home sales to 504,000 in May (versus forecast +0.5% rise to 435,000). USD/JPY is also buoyed by demand from the Japanese importers. But USD/JPY gains are tempered by the Japan exporter sales, lower U.S. Treasury yields and selling of yen crosses amid increased risk aversion (VIX fear gauge rose 10.47% to 12.13, S&P 500 fell 0.64% overnight) as escalating violence in Iraq overshadowed upbeat U.S. data.

Technical comment:

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

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 101.60. A breach of this target will move the pair further downwards to 101.45. The pivot point stands at 101.85. 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 102 and the second target at 102.15.

Resistance levels:

102

102.15

102.30

Support levels:

101.60

101.45

101.15

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Technical analysis of USD/CHF for June 25, 2014 Trend News

Overview:

USD/CHF is expected to trade in a range. It is supported by the positive dollar sentiment. But USD/CHF upside is limited by the franc demand on soft EUR/CHF cross and flows to haven CHF amid increased risk aversion. Daily chart is still negative-biased as MACD and stochastics are in bearish mode, five-day moving average is below 15-day MA and is 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 0.8905. A breach of this target will move the pair further downwards to 0.88895. The pivot point stands at 0.8955. 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 0.8975 and the second target at 0.8985.

Resistance levels:

0.8975

0.8985

0.9015

Support levels:

0.8905

0.8895

0.8865

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Technical analysis of NZD/USD for June 25, 2014 Trend News

Overview:

NZD/USD is expected to trade in a higher range. It is undermined by the positive dollar sentiment and Kiwi sales on soft NZD/JPY cross amid increased investor risk aversion. But NZD/USD losses are tempered by the improved economic outlook for China and hawkish Reserve Bank of New Zealand's monetary policy stance. Daily chart is mixed as MACD is bullish, but stochastics is turned 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 0.8750 and the second target at 0.8780. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8635. A breach of this target would push the pair further downwards and one may expect the second target at 0.86. The pivot point is at 0.8655.

Resistance levels:

0.8750

0.8780

0.88

Support levels:

0.8635

0.86

0.8560

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Technical analysis of GBPJPY for June 25, 2014 Trend News

Overview:

GBP/JPY is expected to trade with risks skewed lower. It is undermined by the increased investor risk aversion and Japan's export sales. But GBP/JPY losses are tempered by the demand from the Japanese importers. Daily chart is mixed as MACD is bullish, but stochastics is neutral.

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 172.55. A breach of this target will move the pair further downwards to 171.85. The pivot point stands at 173.40. 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 173.85 and the second target at 174.25.

Resistance levels:

173.85

174.25

174.75

Support levels:

172.55

171.85

171.15

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EUR/NZD analysis for June 25, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.5688 on volume below the average according to the daily chart. 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 previous price action, we have got resistance level around the price of 1.5745 (swing low like resistance). According to the 4H timeframe, we can observe supply on volume above the average, which is a sign that we may see further bearish movement. Anyway, if the price breaks the level of 1.5535, we may see possible testing of the level of 1.5335. Buying looks risky so watch for potential selling opportunities after retracement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5696

R2: 1.5722

R3: 1.5764

Support levels:

S1: 1.5612

S2: 1.5586

S3: 1.5544

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 25,2014 Trend News

Overview:

Since our last analysis, gold has been trading sideways, we are waiting larger volume and larger price action. As you can see in the graph, the price has broken our Fibonacci expansion 100% at the price of 1,305.00, so we may see possible testing of the level of 1,334.00 (Fibonacci expansion 161.8%). According to the daily timeframe, we can observe indecision bar on volume above the average, which is a sign that buying at this stage looks risky. Be careful with buying since we may see potential bearish correction. According to the previous price action, we got a support level at the price of 1,300.00 (Fibonacci retracement 38.2%).

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,325.42

R2: 1,328.28

R3: 1,332.90

Support levels:

S1: 1,316.18

S2: 1,313.32

S3: 1,308.70

Trading recommendation: Be careful with buying at this stage since we have got buying climax in the background.

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Technical analysis of GBP/USD for June 25, 2014 Trend News

Overview :

• The resistance of the GBP/USD pair has been already set at the level of 1.7075, but the weekly pivot point sets at the level of 1.7000. In our opinion, we expect a range bewteen the levels of 1.6935 and 1.7075 in coming time. Therefore, according to the previous events, the prices is going to move between 1.6930 and 1.7050 today. Then it should be noted that the range today will be around 68 pips. Consequently, the trend in H1 time frame is calling for a bullish market at the level of 1.6935. Hence, above the level of 1.6090 it looks for further upside move with targets at 1.6999 and 1.7062 today. The level of 1.7062 will act as a double top in H1 chart. On the other hand, sell below the weekly resistance one at the level of 1.7075 with the first target at 1.7010; it might resume to 1.6940 in order to test the strong support around the area of 1.6835.

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Elliott wave analysis of EUR/NZD for June 25, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.5786

R2: 1.5746

R1: 1.5723

Current spot: 1.5643

S1: 1.5580

S2: 1.5539

S3: 1.5538

Technical summary:

Blue wave iv has almost tested the target zone between 1.5723 - 1.5746 and we will now look for a break below minor support at 1.5580 as the first good indication that blue wave v has taken over for a decline to 1.5446. Once this blue wave v is in place we should be looking for a long-term bottom.

Trading recommendation:

We will stay neutral and await the major bottom being in place.

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Elliott wave analysis of EUR/JPY for June 25 - 2014 Trend News

Today's Support and Resistance levels:

R3: 139.35

R2: 139.07

R1: 138.76

Current spot: 138.64

S1: 138.57

S2: 138.26

S3: 137.97

Technical summary:

We are still locked in a narrow range between 138.40 - 138.94. We still believe that resistance at 138.94 will protect the upside for a break below support at 138.40 and more importantly support at 138.24 that would call for a new decline to 137.72 and lower to 136.23.

Only a break above 138.94 will delay the decline for a move closer to 139.18 before moving lower.

Trading recommendation:

We are short in EUR from 138.555 with a stop at 139.55. If you are not short in EUR yet, then sell after a break below 138.40 with the same stop at 139.55.

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Technical analysis of USD/CAD for June 25, 2014 Trend News

General overview for 25/06/2014 10:20 CET

The red trendline breakout might be the first clue that the downward cycle has been finished and now higher prices can be seen. A key level to the upside is at the level of 1.0751 where the intraday resistance is and a breakout is of course bullish, targeting weekly pivot and technical resistance. On the other hand, if this level holds the line, then price will get back to the yellow range zone and might test the lover boundary of this zone.

Support/Resistance:

1.0687 - WS1

1.0716 - Intraday Support

1.0715 - Technical Support

1.0752 - Intraday Resistance

1.0790 - Weekly Pivot

1.0804 - Technical Resistance

Trading recommendations:

Daytraders should open buy stop positions if the level of intraday resistance is broken with SL below the level of 1.0716 and TP at the level of 1.0790. Otherwise, any new low will support the bearish scenario.

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Technical analysis of EUR/JPY for June 25, 2014 Trend News

General overview for 25/06/2014 10:00 CET

Still, the market moves in neutral zone and the key level for any upside confirmation is at the level of 138.91, where the bullish zone starts. Please notice that the red trendline is providing dynamic support for the price so far and only a breakout below the weekly pivot and then below the intraday support at the level of 138.27 is bearish. Otherwise, the price might trade in the yellow range zone for some time.

Support/Resistance:

137.34 - WS2

137.70 - Technical Support

138.18 - WS1

138.27 - Intraday Support

138.53 - Weekly Pivot

138.91 - Intraday Resistance

139.36 - WR1

139.71 - WR2

Trading recommendations:

Sell stop positions opened yesterday have the SL above the level of 138.88 and any breakout higher should be considered to be bullish and buy positions should be open with TP at the level of 139.36 and 139.71.

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#USDX Technical analysis for June 25, 2014 Trend News

The Dollar index held its support at 80.25 yesterday and made a breakout above short-term resistance at 80.35. However, the bounce was not strong enough to push the index towards the important resistance of 80.70.

The Dollar index continues to trade below Ichimoku cloud and I believe it is making a sideways consolidation before a stronger downward move that will bring it towards 80-79.90. If the red support trend line is broken we will have our short-term sell signal. This trend line is at 80.20.

The Dollar index needs to break above 80.70 in order to reverse the trend. For some time now I expect the Dollar index to move towards Ichimoku cloud on a daily basis towards the 50% retracement. I still believe the correction is not over and we should prepare for lower levels.

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Gold technical analysis for June 25, 2014 Trend News

Gold price has broken the short-term triangle and pushed to a higher high at $1,325.50 yesterday, but we also saw prices reverse lower back inside the previous consolidation area. Gold price is now trading above the $1,310 support but also looks very fragile and weak.

Gold price despite making a higher high yesterday, showed some divergencies in indicators like RSI. Short-term support is at $1,310 and we should expect a pull back towards $1,290 if that level is broken downwards. Resistance is found at $1,320-25 and if broken we should see Gold price rising to $1,330-40.

Gold price is making wave E of wave 4 triangle. The bounce from $1,240 I believe is not complete and I still believe we can see $1,330-40. However, bulls should be very cautious. We are at the final stages of the wave 4 triangle and a sharp decline towards $1,000-$900 is expected. I will slowly start to focus on the short side as this will be the next big move.

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