Intraday trading recommendations for GBP/USD for August 14, 2014 Trend News

After the soft data had hit the wires, the cable drifted to a 4-month low testing its fortune near the short-term strong supports. The pair is trading just 20 pips away from the crucial support zone. As of now, in early Asia's session, the pair made a low of 1.6670 and trading at 1.6683.

Support 200DEma (1.6639), 200DSma (1.6659)

Parallel support 1.666 (April 15 low)

Until the pair closes above these support levels, the dead cat bounce will take place towards 1.6832 and 1.6890-1.69 even 1.70. This view is valid with sl 1.6639 on a closing basis.

On the bearish perspective, if the pair closes below 1.6639, it can enlarge its bearish image up to 1.66, 1.655 and 1.6465 levels.

For an hourly trading perspective, the prices are trading and close below the key hourly moving averages. The pair has immediate support at 1.6659-1.6639. The pair gives strong returns above 1.6790.

Resistance 1.6737 1.6766 1.6790

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



For detail explanation and best discovery on market trends you may visit via Intraday trading recommendations for GBP/USD for August 14, 2014 . Thanks for your support on Intraday trading recommendations for GBP/USD for August 14, 2014

Short-term trend levels and an intraday recommendation on EUR/GBP for August 14, 2014 Trend News

Short-term view-

The pair spiked to a 6-week high trading at 0.8012 in the Pacific session. GBP drifted to lower levels after the soft UK data. The pair has a strong resistance zone between 0.8026-0.8034, above this, it can extend its journey up to 0.8080 (20WSma). We can expect a short-term reversal, if the pair closes above 0.8080 for an upside targets at 0.8122 and 0.8150 levels. The weekly RSI suggests buying the dip with the recent low as sl.

Support 0.7965 0.7873 0.7757

Resistance 0.8026 0.8034 0.8080

Buy only above 0.8035 for a target at 0.8080

Intraday cmp 0.8012

The pair is trading above the key hourly moving averages. For an hourly trading basis, the safe buy will be triggered only above 0.8020 levels. On the down side, it has support at 0.80. We recommend selling below 0.80 for a downside target at 0.79877, 0.7978 and 0.79660. The panic will be triggered below 0.7966 towards 0.7923 and 0.7915 levels.

Support 0.80 0.7987 0.7966

Resistance 0.8020 0.8025 0.8035

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



For detail explanation and best discovery on market trends you may visit via Short-term trend levels and an intraday recommendation on EUR/GBP for August 14, 2014 . Thanks for your support on Short-term trend levels and an intraday recommendation on EUR/GBP for August 14, 2014

Technical analysis of EUR/USD for August 14, 2014 Trend News

When the European market opens, some economic news will be released such as French Prelim GDP q/q, German Prelim GDP q/q, French Prelim Non-Farm Payrolls q/q, ECB Monthly Bulletin, Final CPI y/y, Flash GDP q/q, Final Core CPI y/y. The US will release the economic data too such as the Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction, so amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3431.

Strong Resistance:1.3423.

Original Resistance: 1.3410.

Inner Sell Area: 1.3397.

Target Inner Area: 1.3365.

Inner Buy Area: 1.3333.

Original Support: 1.3320.

Strong Support: 1.3307.

Breakout SELL Level: 1.3299. 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 August 14, 2014 . Thanks for your support on Technical analysis of EUR/USD for August 14, 2014

Technical analysis of USD/JPY for August 14, 2014 Trend News

In Asia, Japan will release the Core Machinery Orders m/m. The US will release some economic data such as Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction. 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: 103.13.

Resistance. 2: 102.83.

Resistance. 1: 102.73.

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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for August 14, 2014 . Thanks for your support on Technical analysis of USD/JPY for August 14, 2014

Daily analysis of USDX for August 14, 2014 Trend News

Daily chart: The USDX is conducting a breakout on the resistance level of 81.50. Now, it is likely that the USDX will start climbing towards the 82.00 level, where this instrument could begin to form a bullish pattern. You should wait for a breakout at that level to continue placing buy orders on the USDX.

H4 chart: The USDX is trying to make a breakout at the level of 81.72, so it is very likely that the USDX will attempt to climb to the level of 82.25 in the medium term. However, this instrument could make a pullback at current levels and fall back to the support level of 81.28. The MACD indicator is in neutral territory.

H1 chart: The USDX has made a rebound on the 200-day moving average, so far, the USDX is trying to consolidate above the support level of 81.57. If the USDX does make a breakout at the 81.73 level, it is expected to rise to the resistance level of 82.02. The MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 81.73, take profit is at 82.02, and stop loss is at 81.45.

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 August 14, 2014 . Thanks for your support on Daily analysis of USDX for August 14, 2014

Daily analysis of GBP/USD for August 14, 2014 Trend News

Daily chart: The GBP/USD has made a breakout at the level of 1.6766, where now this pair could fall to the support level of 1.6668. The GBP/USD could start forming a bearish pattern to continue falling, even this pair is likely to find support on the 200-day moving average, which is near the level of 1.6668. The MACD indicator is in negative territory.

H4 chart: This pair is trying to make a breakout at the level of 1.6692. If successful, it is expected to fall to the support level of 1.6664. However, the GBP/USD could perform a rebound at current levels and go back to the resistance level of 1.6731. For now, this pair is strong in the bearish trend.

H1 chart: The GBP/USD is trying to form a bearish pattern below the resistance level of 1.6700, so this pair could fall to the support level of 1.6629. If the GBP/USD manages to make a breakout at that level, it would be expected to fall to the level of 1.6578. The MACD indicator is in neutral territory and entering oversold.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.6629, take profit is at 1.6578, and stop loss is at 1.6682.

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 GBP/USD for August 14, 2014 . Thanks for your support on Daily analysis of GBP/USD for August 14, 2014

Technical analysis of EUR/JPY for August 13, 2014 Trend News

General overview for 13/08/2014 16:30 CET

The yestrady's green wave b target has been hit to the pip. The anticipated upside rebound might actually have been completed as the whole corrective structure looks finished. The market is still trading in the bearish zone and further down slide in this pair is expected. The first confirmation of this view comes with the weekly pivot breakout and then failure on the intraday support at the level of 136.35.

Support/Resistance:

135.71 - Swing Low

135.80 - WS1

136.21 - Target Level #2

136.55 - Target Level #2 |Intraday Support|

136.58 - Intraday Support

136.85 - Weekly Pivot

137.10 - Intraday Resistance

137.55 - Technical Resistance

Trading recommendations:

Day traders should consider closing or using trail stops on the long positions opened yesterday at the level of 136.21. The target of 137.33 is still possible but breakout below 136.85 should be the trigger to close this long orders.

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/JPY for August 13, 2014 . Thanks for your support on Technical analysis of EUR/JPY for August 13, 2014

Technical analysis of USD/CAD for August 13, 2014 Trend News

General overview for 13/08/2014 16:00 CET

The corrective cycle in this irregular flat abc corrective cycle might be finished as the first target level has been hit and it is labeled as intraday support. To complete red wave 5 to the upside the market must break above the intraday resistance at the level of 1.0950 and head for a new high. Please, be aware that as long as the level of 1.0875 provides support, the outlook is still bullish.

Support/Resistance:

1.1011 - WR1

1.0957 - Weekly Pivot

1.0950 - Intraday Resistnace

1.0928 - WS1

1.0904 - Intraday Support

1.0875 - WS2 | Wave 4 Red Target Level |

Trading recommendations:

Long positions from yesterday were triggered and should be kept open: entry were from the level of 1.0904 or the level of 1.0875, with the SL below the level of 1.0849 and TP above the level of 1.1010.

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 August 13, 2014 . Thanks for your support on Technical analysis of USD/CAD for August 13, 2014

Technical analysis of USD/JPY for August 13, 2014 Trend News

Overview:

USD/JPY is expected to trade in a higher range after hitting a three-day high at 102.37 on Tuesday. USD/JPY is undermined by unwinding JPY-funded carry trades amid diminished investor risk appetite (S&P 500 fell 0.16% to close at 1,933.75 overnight) on the weak sentiment data from Germany and festering geopolitical concerns over Ukraine and the Middle East. USD/JPY is also weighed by Japanese export sales. But the USD sentiment is boosted by the rise in U.S. NFIB's small-business optimism index to 95.7 in July from 95.0 in June. Besides, USD/JPY downside move is limited by the demand from Japanese importers, higher long-term U.S. Treasury yields (10-year yield last 2.449% versus 2.42% late Monday) and the broadly firmer dollar undertone (ICE spot dollar index last 81.52 versus 81.47 early Tuesday). Annual 'Obon' summer holiday (Aug. 13-15) in Japan: financial markets will not be officially closed during this period, but many domestic investors are expected to be absent, resulting in subdued trading activity.

Technical comment:

The daily chart is mixed as stochastics is neutral, MACD is turning bearish.

Trading recommendations:
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 long as the price is keeping above its pivot point, a long position is recommended with the first target at 102.55 and the second target at 102.75. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 101.95. A break of this target would push the pair further downwards and one may expect the second target at 101.65. The pivot point is at 102.15.

Resistance levels:

102.55

102.75

103

Support levels:

101.95

101.65

101.40

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 August 13, 2014 . Thanks for your support on Technical analysis of USD/JPY for August 13, 2014

Technical analysis of NZD/USD for August 13, 2014 Trend News

Overview:

NZD/USD is expected to consolidate with a bullish bias after hitting a two-month low at 0.8406 on Tuesday. It is undermined by the Kiwi sales on buoyant AUD/NZD cross, the waning investor risk appetite, the broadly firmer dollar undertone, weak dairy prices, reduced expectations of further rate hikes from the Reserve Bank of New Zealand this year as well as the official stance against strong Kiwi exchange rate. But NZD/USD losses are tempered by the NZD-USD interest differential. The daily chart is negative-biased as MACD is bearish, stochastics stays suppressed in the oversold zone, five and 15-day moving averages are declining.

Trading recommendations:
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 long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.8485 and the second target at 0.8505. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8395. A break of this target would push the pair further downwards and one may expect the second target at 0.8375. The pivot point is at 0.8445.

Resistance levels:

0.8485

0.8505

0.8530

Support levels:

0.8395

0.8375

0.8350

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 August 13, 2014 . Thanks for your support on Technical analysis of NZD/USD for August 13, 2014

Technical analysis of USD/CHF for August 13, 2014 Trend News

Overview:

USD/CHF is expected to trade in a lower range after hitting a three-day high at 0.9104 on Tuesday. It is supported by the broadly firmer dollar undertone, dovish Swiss National Bank's monetary policy, and franc sales on soft CHF/JPY cross. But USD/CHF gains are tempered by the franc demand on soft EUR/CHF cross.The daily chart is mixed as MACD and stochastics is in a bearish mode, but five-day moving average is fkluctuating sideways above advancing 15-day MA.

Trading recommendations:

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 0.9030. A break of this target will move the pair further downwards to 0.9. The pivot point stands at 0.9090. In case the price moves in the opposite direction and bounces back from the support level, then it will 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 0.9115 and the second target at 0.9135.

Resistance levels:

0.9115

0.9135

0.9155



Support levels:

0.9030

0.900

0.8975

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 August 13, 2014 . Thanks for your support on Technical analysis of USD/CHF for August 13, 2014

Technical analysis of GBP/JPY for August 13, 2014 Trend News

Overview:

GBP/JPY is expected to trade with risks skewed lower. It is undermined by the diminished investor risk appetite, Japan's export sales, and the weak EUR sentiment. But GBP/JPY losses are tempered by the demand from Japanese importers. The daily chart is mixed as stochastics is in a bullish mode, but five-day moving average is still below 15-day MA and is declining.

Trading recommendations:
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 170.70. A break of this target will move the pair further downwards to 170.20. The pivot point stands at 171.75. In case the price moves in the opposite direction and bounces back from the support level, then it will 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 172.65 and the second target at 173.30.

Resistance levels:

172.65

173.30

173.75



Support levels:

170.70

170.20

169.85

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 GBP/JPY for August 13, 2014 . Thanks for your support on Technical analysis of GBP/JPY for August 13, 2014

GBP/USD intraday technical levels and trading recommendations for August 13, 2014 Trend News

Intraday resistance was established around 1.7150-1.7190. A short-term SELL position was suggested in the previous articles.

The price levels of 1.7050 - 1.7000 failed to provide enough support for the pair. Hence, the bears had potential bearish target around 1.6970 and then 1.6920.

DAILY fixation below 1.6980-1.7000 applied intensive bearish pressure on the price zone of 1.6920-1.6900 leading to its breakdown as well.

Bullish recovery was evident around 1.6800 - 1.6820 manifested during the previous visit (Monday's daily candlestick)

However, this price zone failed to provide support during the 2nd visit that took place on Friday exposing price level of 1.6765 for retesting.

As expected, prices levels around 1.6760 provided a valid BUY entry towards 1.6820.

Price levels around 1.6800-1.6820 offered a valid SELL as expected yesterday. SL should be set at daily closure above 1.6860.

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



For detail explanation and best discovery on market trends you may visit via GBP/USD intraday technical levels and trading recommendations for August 13, 2014 . Thanks for your support on GBP/USD intraday technical levels and trading recommendations for August 13, 2014

USD/CAD intraday technical levels and trading recommendations for August 13, 2014 Trend News

Since the USD/CAD pair failed to show enough bullish 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 between 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart) where a prominent congestion zone was established.

As depicted on the chart, bullish rejection was expressed at retesting the lower limit of the bearish channel around 1.0630 (It's the origin of the previous bullish impulse initiated in December 2013 as well).

The USD/CAD pair has a strong resistance zone located between 1.0950 and 1.1020 (Fibonacci Levels 50% and 61.8% of the most recent bearish swing).

As we mentioned before, bearish rejection should be anticipated this week especially after such a long bullish rally that originated off 1.0650 and 1.0710.

Bearish rejection was manifested around the price level of 1.0970 (Fibonacci 50% level) where a Shooting-Star daily candlestick was expressed on Wednesday. Moreover, another bearish engulfing daily candlestick was expressed on Monday off the same levels (around 50% Fibonacci). This enhances the short-term bearish direction.

On the other hand, Daily fixation above 1.0950 (50% Fibonacci level ) enables the bulls to shoot towards 1.1020 and 1.1050 initially.

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



For detail explanation and best discovery on market trends you may visit via USD/CAD intraday technical levels and trading recommendations for August 13, 2014 . Thanks for your support on USD/CAD intraday technical levels and trading recommendations for August 13, 2014

Intraday technical levels and trading recommendations on GBP/USD for August 13, 2014 Trend News

Breakdown of the DEMAND level around 1.6975 allowed a quick decline of the GBP/USD pair towards the price zone of 1.6800-1.6820.

When retesting the price zone of 1.6800-1.6820, considerable bullish recovery took place. This bullish movement was stopped below 1.6880 when the bears applied considerable bearish pressure.

On Wednesday, the GBP/USD pair declined again towards 1.6770. This came after the release of the British manufacturing data, which came below expectations.

In case the bears keep applying bearish pressure, we expect the pair to break down the price level of 1.6760 (the previously broken top established in February 2014 ).

On the other hand, failure of the bears to fixate below 1.6760 will probably allow the bulls to initiate a bullish corrective movement towards 1.6820 and 1.6900 as well.

A pattern of multiple tops was confirmed after breakdown of the depicted bullish channel when the price zone between 1.7140 - 1.7170 provided evident bearish price action.

The price zone of 1.6830 - 1.6800 remains a significant zone as it corresponds to the previous consolidation zone established in June as well as the upper limit of the ongoing bearish channel.

However, 4H fixation below this zone exposes the price levels around 1.6760 and 1.6730 to be hit shortly after.

Note that the GBP/USD pair has been down-trending for almost 20 days without significant correction.

Thus, any bullish fixation above 1.6820 invalidates the current steep trend allowing a deeper bullish retracement to occur.

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



For detail explanation and best discovery on market trends you may visit via Intraday technical levels and trading recommendations on GBP/USD for August 13, 2014 . Thanks for your support on Intraday technical levels and trading recommendations on GBP/USD for August 13, 2014

EUR/NZD analysis for August 13, 2014 Trend News

Overview:

Since our last analysis, EUR/NZD has been trading sideways. The price was tested and rejected from the level of 1.5893 (Fibonacci retracement 61.8%). I have placed Fibonacci expansion to find potential end of a bullish corrective phase (abcd) and I got Fibonacci expansion 161.8% at the price of 1.5815. We can observe weak demand in a volume below the average according to the daily time frame, which is a sign that buying at this stage looks risky. Watch for potential selling opportunities. According to the previous price action, we got support at the price of 1.5625 (swing high like resistance). I have placed Fibonacci retracement from the most recent upward leg and I got Fibonacci retracement 38.2 % at the price of 1.5710. We are still waiting for larger movement and larger activity on this pair. Be careful when buying this pair and watch for potential selling opportunities.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5886

R2: 1.5906

R3: 1.5938

Support levels:

S1: 1.5821

S2: 1.5801

S3: 1.5768

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

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



For detail explanation and best discovery on market trends you may visit via EUR/NZD analysis for August 13, 2014 . Thanks for your support on EUR/NZD analysis for August 13, 2014

Gold analysis for August 13, 2014 Trend News

Overview:

Since our last analysis, gold has been trading sideways, around the price of 1,310.00. We are still waiting for larger movement and larger volume (activity). According to the Daily time frame, we can observe shooting star candle and successful rejection from Fibonacci retracement 61.8%, which is a sign that buying looks risky. Anyway, if the price breaks the level of 1,321.00 in a higher volume, we may see the level of 1,343.00 is being tested. My advice is to watch for selling opportunities after retracement. According to the 4H time frame, we can observe that strong supply in a high volume has entered on the the maket.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,317.01

R2: 1,319.95

R3: 1,324.73

Support levels:

S1: 1,307.45

S2: 1,304.51

S3: 1,299.73

Trading recommendations: Buying Gold looks risky since we got successful rejection from our Fibonacci retracement 61.8%.

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



For detail explanation and best discovery on market trends you may visit via Gold analysis for August 13, 2014 . Thanks for your support on Gold analysis for August 13, 2014

Technical analysis of NZD/USD for August 13, 2014 Trend News

Notes :

• The double top of the NZD/USD pair will set at the level of 0.8506.


• The support is going to set at 0.8404. And this level is going to represent the double bottom in the H4 chart.


• The major support has already represented the weekly support one. Moreover, the double bottom also coincides with the major support and the strong support.


• The price hit the weekly pivot point and support 1 last week, because of the series of relatively equal highs and equal lows.


• We expect a range of 50 pips today.

Trading recommendations :

• According to the previous events, the NZD/USD pair has still been moving between 0.8503 and 0.8420.


• Sell at 0.8506 (the weekly resistance 1) with the first target at the 0.8440 price, then it will call for a downtrend in order to continue its bearish movement towards 0.8404 in order to test this strong support (it should be noted that the price of 0.8404 had already formed the double bottom).


• At the same time, the stop loss should be placed at the level of 0.8543.


• Buy above the price of 0.8400 in the short term (if the trend fails to close below it) with a target at 0.8455. We shouthe price of 0.8455.

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 August 13, 2014 . Thanks for your support on Technical analysis of NZD/USD for August 13, 2014

Technical analysis of GBP/USD for August 13, 2014 Trend News

Overview :

• The price of the GBP/USD pair has opened below the weekly pivot point (1.6809). Additionally, it should be noted that the double top is going to set at 1.6813 in H1 chart; the market was in a downtrend two weeks ago. Also, we should be aware that the resistance has set at the price of 1.6813 today. Therefore, the market will probably indicate a bearish opportunity at the level of 1.6809 in the long term. Also, the weekly pivot point will act as strong resistance on August 13, 2014 because support becomes resistance after breaking it yesterday. So, according to the previous events, the price is still moving between the levels of 1.6810 and 1.6725. Thus, the area below 1.6809 (below the weekly pivot point) looks for further downside with the first target at the 1.6730 level in order to form a new double top and continue towards 1.6691 to test support in H1 chart. The level of 1.6691 coincides with the ratio of 161.8% Fibonacci retracement levels. Notwithstanding, the stop loss should be placed at the price of 1.6833.

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 GBP/USD for August 13, 2014 . Thanks for your support on Technical analysis of GBP/USD for August 13, 2014

Elliott wave analysis of EUR/NZD for August 13, 2014 Trend News

Today's support and resistance levels:

R3: 1.5898

R2: 1.5866

R1: 1.5854

Current spot: 1.5835

S1: 1.5827

S2: 1.5814

S3: 1.5806

Technical summary:

Wave 1 ended early at 1.5898, just below our expected target of 1.5920. Wave 2 is now unfolding for a correction towards at least 1.5707 and possibly even lower towards the 1.5648 support. Once this wave 2 correction is over, we should be looking for a new powerful rally above the 1.5898 top for a rally towards at least 1.6203 and above here that will open up the upside for a much stronger rally in the longer term.

Trading recommendation:

Our stop at 1.5830 was hit for another nice profit. We will look for buying opportunties as wave 2 closes in on the 1.5648 - 1.5707 support area.

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



For detail explanation and best discovery on market trends you may visit via Elliott wave analysis of EUR/NZD for August 13, 2014 . Thanks for your support on Elliott wave analysis of EUR/NZD for August 13, 2014

Elliott wave analysis of EUR/JPY for August 13, 2014 Trend News

Today's support and resistance levels:

R3: 137.06

R2: 136.88

R1: 136.79

Current spot: 136.72

S1: 136.61

S2: 136.55

S3: 136.36

Technical summary:

The b wave reaction is the level where we see deviation from its ideal target near 136.24 and ending at 136.36 (just six small pips from our buy target). However, as long as minor resistance at 136.88 protects the upside, there is still a small chance of yet another decline into our ideal target at 136.24 before the c-wave moves higher to 137.14. However, a direct break above 136.88 will call for a direct rally to 137.14 where we expect to find the top for the final decline to the ideal target at 134.34.

Trading recommendation:

We missed our buying opportunity. Instead, we will focus on selling EUR at 137.10 with a stop at 137.80.

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



For detail explanation and best discovery on market trends you may visit via Elliott wave analysis of EUR/JPY for August 13, 2014 . Thanks for your support on Elliott wave analysis of EUR/JPY for August 13, 2014

#USDX Technical analysis for August 13, 2014 Trend News

The rise in the Dollar index is very fragile. A double top and a rejection at the previous highs is not a good sign for bulls. The upward sloping channel is being put to the test. The Dollar index is now testing important support levels.

In the short-term, the Dollar index is testing the top end of the Ichimoku cloud and the lower boundaries of the upward sloping channel. The double top is not a good sign for bulls. Support is found at 81.45 and at 81.35. Breaking below these levels will certainly push the index towards 81.20 and maybe 81. Resistance is found at 81.75. If broken, we will push towards 82.

This is my wave count for the daily chart in the Dollar index. Is the upward impulsive move over? As long as price is inside the upward sloping channel, we assume wave 5 is not complete yet. If price breaks below 81.35 and closes for a day below that level, we assume that a correction will start that could push the index as low as 80.50. The trend remains up but it is fragile. The Dollar index is testing the support of the channel and bulls should be very cautious.

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



For detail explanation and best discovery on market trends you may visit via #USDX Technical analysis for August 13, 2014 . Thanks for your support on #USDX Technical analysis for August 13, 2014

Gold Wave analysis for August 13, 2014 Trend News

Gold price is still inside a corrective wave pattern. We saw a rejection yesterday as we expected it below $1,320. Now, I expect the downward move to push for a final short-term low near $1,300. Currently, we are in wave C. I do not believe the correction is over because the rise from $1,305 to yesterday's highs is a corrective move as it consists of 3 waves. 3 waves show correction and not impulse.

Price is above the Ichimoku cloud. As I mentioned in my previous analysis, after the 5 waves up from $1,280 to $1,322 I expect a three wave correction that will test the Ichimoku cloud support and possibly reach the 61.8% Fibonacci retracement.

In the daily chart as shown above, everything remains bullish as price is above the Ichimoku cloud and our expected target of $1,350 is still quite possible as the rise from $1,240 and the rise from $1,280 are impulsive waves. For now, bulls have the upper hand and I expect Gold price to rise at least in the near future. The long-term trend will be tested at $1,350 and $1,391.

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



For detail explanation and best discovery on market trends you may visit via Gold Wave analysis for August 13, 2014 . Thanks for your support on Gold Wave analysis for August 13, 2014

Intraday analysis of GBP/USD for August 13, 2014 Trend News

Today, the economic calendar is rather eventful. The following data are expected today: U.K. jobless rate data, the unemployment benefits report, BOE Governor Carney speech, BOE inflation report, the core retail sales report in the U.S.

The pair is trading at a 3-day high. The pair has a resistance at 1.6923 above this 1.6935 above these, it can spike up to 1.68825 (100DSma). At a daily closure above 1.68825, it can zoom up to 1.6890 and 1.6920. We recommend buying above the 1.6935 levels. In hourly trading, the pair is trading above the key moving averages. The pair has intraday support at 1.6810, 1.68, and 1.6790. Until the price closes above 1.6790, buying on dips will bring profit. The pair looks only below 1.6778; it can make correction to the 1.6757, 1.6739, and 1.6720 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 Intraday analysis of GBP/USD for August 13, 2014 . Thanks for your support on Intraday analysis of GBP/USD for August 13, 2014

Intra weekly forecast and an intraday analysis of GBP/JPY for August 13-15, 2014 Trend News

As of now, the pair made a double top at 171.99, currently it is trading at 171.85. The pair is trading at a 3-day high. We recommend to buy above 172 with the target of 172.30 and 172.70. At a daily closure above 172.30, the weekly trend turns to positive. If the GBP data pumps an optimistic news to the wires, we can see 173.10. The inflation report, unemployment report as well as BOE Governor Carney speech are the key economic events.

Support 171.40 171.20 170.70

Resistance 172 172.20 172.35

A day closure above 172.35 means that a strong momentum in the pair will be back.

Intraday 171.90

The pair is facing strong resistance at 172 (20hr high). On the down side, it has support at the 171.84 and 171.50 levels. We strongly recommend to buy above 172 only.

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



For detail explanation and best discovery on market trends you may visit via Intra weekly forecast and an intraday analysis of GBP/JPY for August 13-15, 2014 . Thanks for your support on Intra weekly forecast and an intraday analysis of GBP/JPY for August 13-15, 2014