Technical analysis of EUR/USD for June 30, 2014 Trend News

When the European market opens, some economic news will be released such as German Retail Sales m/m, M3 Money Supply y/y, Private Loans y/y, CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Italian Prelim CPI m/m. The US will release the economic data too such as the Chicago PMI, Pending Home Sales m/m, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3707.

Strong Resistance:1.3699.

Original Resistance: 1.3686.

Inner Sell Area: 1.3673.

Target Inner Area: 1.3641.

Inner Buy Area: 1.3609.

Original Support: 1.3596.

Strong Support: 1.3583.

Breakout SELL Level: 1.3675.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3596 and 1.3686. The rate is accompanied by strong support at 1.3583 and by 1.3699 as strong resistance.

If EUR/USD breaks out and closes below the 1.3675 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3707 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 1.3609 and at 1.3673, a SELL position. In this case both targets should be placed at the level of 1.3641.

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 30, 2014 Trend News

In Asia, Japan will release its preliminary Industrial Production m/m, and Housing Starts y/y. Meanwhile, the US will release some economic data such as Chicago PMI, Pending Home Sales m/m, etc. 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: 101.83.

Resistance. 2: 101.63.

Resistance. 1: 101.43

Support. 1: 101.18.

Support. 2: 100.98.

Support. 3: 100.78.

Description:

Please, pay attention to the levels of support 3 (100.78) and resistance 3 (101.83). Normally, when a level is touched, USD/JPY is likely to 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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Technical analysis of EUR/JPY for June 30, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair is stalling ahead of 139.00 levels, unable to clear through 139.25 for now. The pair needs to clear through 140.00 levels to turn bullish. There is high probability from here on that the pair continues drifting lower.

2. Support is seen at 137.80, followed by 136.50 and lower, while resistance is seen at 140.00, followed by 141.00, 142.50/143.50 and higher respectively.

3. The structure indicates that EUR/JPY downside would accelerate on a break down below 137.80 levels. On the flip side, a break above 140.00 could delay matters.

Trading recommendations:

Remain flat for now. Look to sell rallies.

Good luck!

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Technical analysis of GBP/CHF for May 21, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has produced a bearish engulfing candle around 1.5150 levels as seen here, indicating that the correction may still continue lower towards 1.5080. Please also note that 1.5080 levels is past resistance turned support and fibonacci 0.618 support as shown here.

2. Support is at 1.4950, followed by 1.470, 1.4650, 1.4550 and lower, while resistance is seen at 1.5300 respectively.

3. The structure indicates that GBP/CHF pair could still continue falling towards 1.5080 levels before turning bullish.

Trading recommendations:

Buy on dips remains favorable.

Good luck!

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Technical analysis of Silver for June 20, 2014 Trend News

Technical outlook and chart setups:

1. Silver has produced an engulfing bearish candlestick pattern indicating that the next probable move is lower from here on. Minimum expectations are towards the $19.00 levels, which is also the resistance turned support line.

2. Support is seen at $19.00/50 levels, followed by $18.60 and lower while resistance is seen at $21.70, followed by $22.30 and higher up respectively.

3. The structure indicates that Silver is bearish for short term, towards $19.00/50 levels and then bullish.

Trading recommendations:

Turn bearish for now, risk above $21.50, target is open.

Good luck!

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Technical analysis of Gold for June 30, 2014 Trend News

Technical outlook and chart setups:

1. Gold is seen to be stalling ahead of resistance at $1,330.00 levels. Please note that it is also the 0.618 fibonacci resistance as shown here. There is high probability of a bearish reversal from here on, at least towards the back side of resistance line.

2. Support is seen at $1,260.00, followed by $1,240.00, $1,230 and lower, while resistance is seen at $1,330.00, followed by $1,350.00/60 and higher up respectively.

3. The structure indicates that Gold needs to correct lower at least towards resistance turned support line before rallying further.

Trading recommendations:

Gold remains buy on dips for now.

Good luck!

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Daily analysis of USD/CHF for June 30, 2014 Trend News

Daily chart: The USDX is conducting a breakout in the support level of 80.11. Now, the USDX tries to fall below that level to its decline. For now, the next goal remains the support level of 80.19. However, we recommend being cautious when placing buy orders in the USDX while it remains below the level of 80.11. The MACD indicator is in negative territory.

H4 chart: The USDX is consolidating below the level of 80.09 and the 200 day moving average. However, it is likely that the USDX continues falling to the support level of 80.33, due to the strong weakness which currently offers the USDX in this chart. The MACD indicator is in negative territory

H1 chart: The USDX continues to fall below the resistance level of 80.15 and the next target is now the support level of 79.88. If the USDX does make a breakout at that level, it would be expected to fall to the level of 79.64, which would be a strong bearish consolidation in this chart, because the USDX is below the 200 SMA. Indicator MACD 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 79.88, take profit is at 79.64, and stop loss is at 80.12.

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Daily analysis of GBP/USD for June 30, 2014 Trend News

Daily chart: The GBP/USD is kept moving at a low range above the support level of 1.7000. For now, the bullish outlook remains valid because this pair is forming a lower high pattern above that support level, so the next target for the GBP/USD would be the resistance level of 1.7169. The MACD indicator is entering neutral territory.

H4 chart: The GBP/USD is trying to stay above the 1.6995 level, because this pair has moved in sideways below the resistance level of 1.7062. However, if the GBP/USD manages to make a breakout in the support level of 1.6995, it's expected to fall to the level of 1.6920. The MACD indicator is in positive territory.

H1 chart: This pair has found support on the point of control, which is close to the level of 1.7020, so now, it is very likely that the GBP/USD rises to the resistance level of 1.7050. If the pair manages to consolidate above this level, it would be expected to rise to the level of 1.7100. MACD indicator is in positive 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 1.7050, take profit is at 1.7100, and stop loss is at 1.7000.

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Intraday technical levels and trading recommendations on GBP/USD for June 27, 2014 Trend News

Successive bottoms around 1.6465, 1.6555 and 1.6665 (corresponding to the depicted uptrend line) held price above and provided enough buying pressure to keep pushing higher.

However, In May, the bullish momentum wasn't strong enough to allow the bullish breakout above 1.7000 to pursue towards further targets. Instead, this previous breakout lost its bullish momentum showing successive lower highs that temporarily managed to breakdown the depicted uptrend line.

Again the GBP/USD pair showed bullish recovery around 1.6690 which was followed by strong bullish pressure being applied to push above 1.7000 (prominent top established on May 6).

If the bears keep pushing lower preventing any bullish breakout above 1.7000, the pair will have obvious targets around 1.6900 initially.

Note that the Friday's candlestick came as a "bearish engulfing" followed by the Monday's candlestick which topped at 1.7050 where significant bearish pressure was applied to push lower.

These bearish signals enhance the bearish side of the market at such prominent SUPPLY levels. However, yesterday's candlestick was controversial so today's candlestick closure should be assessed for this scenario.

The bulls managed to re-fixate above the previously broken uptrend line. Moreover, they are challenging the recent top around 1.7020 - 1.7040.

The fact that the bears managed to maintain the 4H fixation below 1.6970 - 1.7000 ( lower limit of the depicted channel ) suggests a bearish move towards 1.6870 - 1.6830 where 61.8% and 50% Fibonacci Levels are located.

A possibility of upcoming change of short-term trend remains intact. Price level 1.6970 should be watched for price action at retesting.

On the other hand, bullish fixation above 1.7000 will enhance the bullish channel scenario, thus enabling the bulls to reach 1.7090 and probably 1.7130 before bearish correction takes place.

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Intraday technical levels and trading recommendations on GBP/JPY for June 27, 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 each time the pair visited them and provided enough buying pressure to keep pushing higher.

On Friday, the bulls have reached the upper limit of the depicted channel located roughly at 174.60 where bearish pressure was expressed obviously.

Signs of bearish recovery are quite manifested on the 4H chart. That's why, the GBP/JPY pair remains bearish as long as the recent high around 174.00 remains defended by the bears.

The bears need to keep their 4H closure below 173.30 in order to pursue towards further bearish targets.

Demand zone located around 173.45 was successfully breached with such bearish 4H candlestick closures, while the pair has the next demand level around 172.40 where previous broken-tops are located.

Note the bullish pressure expressed at 172.40 earlier today when the bears challenged yesterday's low around 172.70. Prominent bullish rejection is manifest on the chart so SELLERS should be conservative with their targets. However, if the bears manage to breakdown zone between 172.20 - 172.40, sellers should extend their targets towards 171.80 where the key-demand zone of the current swing is located.

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USD/CAD intraday technical levels and trading recommendations for June 27, 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 downtrending within the depicted bearish channel, which managed to push towards the price zone of 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart) for few times.

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 previously applied on March 21.

The USD/CAD pair found solid resistance around 1.0910-1.0950 that was able to pursue the ongoing bearish momentum.

The pair was trapped within the depicted congestion zone between such two important Fibonacci Levels until bearish breakout turned to the bearish side.

Bearish projection targets were located around 1.0725 and 1.0685 (the lower limit of the ongoing bearish channel ). Both targets got visited shortly after as expected.

Bullish price action will probably originate at retesting of 1.0685-1.0660 which is the origin of the previous bullish impulse initiated in December 2013.

That's why, the price action should be watched for a possible BUY entry at retesting.

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EUR/AUD intraday technical levels and trading recommendations for June 27, 2014 Trend News

By breaking down the 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 to 1.4950, then 1.4750 corresponding to 50% and 61.8% Fibonacci levels, respectively.

Previously, a bullish pullback was initiated off 1.4670 ( around 61.8% Fibonacci ). Two bullish spikes above 1.4950 (50% Fibonacci level on the daily chart) took place. 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 EUR/AUD 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, the price zone around 1.4375-1.4420 showed bullish recovery which took place last week after such a strong bearish move.

Note that the 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.

Moreover, there's a possible double-bottom reversal pattern being expressed on the 4H chart. Reversal confirmation needs 4H fixation above 1.4550 ( outside the bearish channel as well ). This exposes price levels around 1.4650 initially.

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GBP/USD intraday technical levels and trading recommendations for June 27, 2014 Trend News

Bullish breakout above the depicted bearish channel took place 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 took place before on May 6 when extensive bearish pressure was applied.

Note the daily candlestick of Thursday when the bulls managed to close above 1.7000.

This threatened the bearish trend of the market. However, the bulls are not showing enough bullish follow-through at such important levels.

A bearish corrective movement is not excluded to occur towards 1.6830-1.6860 provided that the support key-level around 1.7000 gets broken-down again by significant bearish pressure.

Bullish pressure was applied at retesting of the uptrend line depicted on the 4H chart. However, we should mention that the current movement may be transition to a sideways or maybe bearish correction as long as the last top around 1.7065 remains unbroken.

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

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