Weekly forecast and an intraday analysis of GBP/JPY for August 04-08, 2014 Trend News

Weekly view (August 04-08)

The pair hit the 6-month support trend line on a weekly basis, and closed below that in the previous week. Today the pair opened below the support trend line, currently now it is acting as resistance unable to breach that. It has the nearest weekly support at 172.20 (20WSma). The pair hit the descending upper trend line and closed below that. The pair held the parallel support at 172.36 (low made 172.39) on Friday's session. On the down side, it has support at 172.20-172.10 (rounded to 172). The pair will extend its fall only below 172 towards 171.75, 170.95 and 170.70 levels.

Support 172.36 172.20 172

Resistance 173 173.86 174.25

Positional sell only below 172

Intraday cm 172.73

In the Asia's session, the pair is trading below the hourly moving averages, 21HrSma and 34Hr Sma. Until the prices close below these, the bears will have an upper hand. The pair has been making a lower lows formation for 18 hours. We recommend to buy above 172.80 for 173, 173.20 and 173.30 levels. We can see a strong momentum only above 173.30 for 173.80. The pair has intraday support at 172.36, 173.20 and 172.0

Support 172.36 172.20 172

Resistance 172.80 173 173.20

Buy above 172.80

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Weekly forecast and an intraday analysis of Gold for August 04-08, 2014 Trend News

Weekly view (August 04-08)

The yellow metal finally hit and closed below the 50WSma, after holding above it for 2 weeks. The metal has been making lower lows and lower highs for 3 weeks. Today in Asia's session, the metal opened higher with a minor bearish note and was unable to breach the 50WSma. The nearest resistance will be at $1,296 (50WSma), above this, $1,300 is the weekly resistance levels. We recommend to buy above $1,297 for $1,300, $1,306.80, $1,310, $1,312 and $1,318.

Resistance $1,296 $1,300 $1,311.70

Support $1,286 $1,280 $1,275

Intraday cmp $1,292.50

The metal was rejected at 34HrSma on Friday session and is still trading below that, but held above 12ema and 21hrSma. The metal has support at $1,290 (12ema). We recommend to sell below $1,290 for targets at $1,287.40, $1,286.50,$1,282 and $1,280 levels. The panic will be triggered below $1,279.70 for $1,275, $1,270 levels.

Support $1,290 $1,288 $1,286

Resistance $1,294 $1,296 $1,297

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Weekly forecast and an intraday analysis of GBP/USD for August 04-08, 2014 Trend News

Weekly view (August 04-08)

The cable took the support exactly at the parallel breakout level on Friday's session and today in Asia's session the cable held the previous day support. On the down side, it has a support zone at 1.6791-1.6785, below this, 1.6739 and 1.6699-1.6693 will act as strong support levels. After 15 months, for the first time the cable closed below the 20WSma. This week, it opened below the 20WSma. On the daily chart, the daily RSI and Stochastics are indicating an oversold level.

Support 1.6813 1.6786 1.6739

Resistance 1.6873 1.6923 1.6975-1.70

Positional - Sell below 1.6785 target 1.6740 and 1.67

Intraday cmp 1.6826

In the Asia's session, the pair is trading below the hourly moving averages, 21HrSma and 34HrSma. Until the prices close below these, the bears will have an upper hand. The pair has hourly support at 1.6817-1.6810, below this, 1.68, 1.6786 and 1.6770 will act a support zone. On the north side, it has resistance at 1.6844, 1.6862, 1.6889-1.68893 and 1.6927 levels.

Recommendation- cmp 1.6828

Safe to buy only above 1.6920

Risky traders can buy above 1.6862

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Technical analysis of EUR/USD for August 04, 2014 Trend News

When the European market opens, some economic news will be released such as Spanish Unemployment Change, Sentix Investor Confidence, PPI m/m. The US will not release any economic data, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3493.

Strong Resistance:1.3485.

Original Resistance: 1.3472.

Inner Sell Area: 1.3459.

Target Inner Area: 1.3427.

Inner Buy Area: 1.3395.

Original Support: 1.3382.

Strong Support: 1.3369.

Breakout SELL Level: 1.3361.

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



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Technical analysis of USD/JPY for August 04, 2014 Trend News

In Asia, Japan will release the Monetary Base y/y and the US will not release any economic data. So there is a big probability the USD/JPY will move with low volatility during the day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 103.39.

Resistance. 2: 103.93.

Resistance. 1: 102.72.

Support. 1: 102.48.

Support. 2: 102.27.

Support. 3: 102.07.

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



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Weekly forecast and an intraday analysis of EUR/USD for August 04-08, 2014 Trend News

EUR/USD

Weekly view-

Today traders will watch Spanish unemployment change. The pair rebounded on Friday's session. The pair made a low at 1.3366 in last week's session. The pair got rejection at 40Dema, made a high at 1.3444 levels (exact high on July 29). We recommend to buy only above 1.3444 for 1.3480, 1.35 and 1.3550. On the down side, the pair has strong support at 1.3420 and 1.3366. On a closing basis, for two consecutive weeks the pair has managed well to close above the weekly 200Ema. This is a good sign for the short term trades. This week's closing will give a clear indication for the rest of the month either 1.37/1.3210.

Weekly basis (August 04-08)

Support 1.3420 1.3366 1.3295

Resistance 1.3444 1.3480 1.3550

Intraday cmp 1.3428

The pair is trading above the hourly moving averages and prices are closed above the 21HrSma and 34Hr Sma. The pair ahs been trading in a range between 1.3433-1.3421 for 7 hours. We are recommending to buy only above 1.3444 for an intraday targets at 1.3475, 1.3485 and 1.35 levels. On the down side, it has support levels at 1.34-1.3412 and 1.3380.

Key levels to watch for an hourly basis.

12ema and 21HrSma 1.34

34HrSma 1.3410

Resistance 1.3444 (12hr high, 1.3433 (7hr high)

Recommendation -cmp 1.3427

Buy only above 1.3444 for both intraday and positional.

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