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

The eurozone will not release any economic data today, but the US will unveil its Core Durable Goods Orders m/m, Durable Goods Orders m/m, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, and Richmond Manufacturing Index. So amid the reports, EUR/USD is likely to move low to medium volatility today.

Today’s technical levels:

Breakout BUY Level: 1.3250.

Strong Resistance:1.3242.

Original Resistance: 1.3229.

Inner Sell Area: 1.3216.

Target Inner Area: 1.3185.

Inner Buy Area: 1.3154.

Original Support: 1.3141.

Strong Support: 1.3128.

Breakout SELL Level: 1.3120.

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 trend levels and intraday recommendation for EUR/JPY (August 26, 2014) Trend News

The pair was rejected at previous high 138.02 (August 01 high) on Friday and started moving lower. It made a short-term top at the level of 138 in the daily chart. It hit the 50DSma and closed below it, thus providing sell signal on a weekly basis. The pair is trading at a 4-day low. In today's Asia's session, the pair hit the 20DSma as well. The pair looks weak on the intraday and weekly basis.

Weekly basis: Until the pair closes below the level of 138, sell on the rise.

Monthly basis: Until the pair closes below the level of 138.70, sell on the rise.

On the down side, it has a parallel support at the level of 137. Below it, 136.75-136.60 should be used as a weekly support level.

Until the pair closes below the 138.70, the level of 134.50-134 will act as an open target in the near term on the down side.

On intraday basis, the price has closed below and is trading below 12ema, negative for hourly and intraday trading. As soon as the candlestick closes above 137.45, only then some up move is seen to take place.

Resistance 137.37 137.45 137.66

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Technical analysis of USD/JPY for August 26, 2014 Trend News

In Asia, Japan will release the SPPI y/y and the US will release its Core Durable Goods Orders m/m, Durable Goods Orders m/m, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, and Richmond Manufacturing Index. So there is a big probability the USD/JPY pair 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: 104.61.

Resistance. 2: 104.41.

Resistance. 1: 104.20.

Support. 1: 103.95.

Support. 2: 103.75.

Support. 3: 103.54.

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 Aug 26, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair has retraced lower towards 137.00 levels as seen here. Please note that the back side of the trend line is also passing through the same region, which is now acting as support. It is recommended to initiate long positions at current levels. Risk remains below 136.00.

2. Support is seen at 136.00 followed by 134.00 and lower, while resistance is seen at 138.00 (interim), followed by 139.50 and higher respectively.

3. The structure indicates that EUR/JPY could extend its counter trend rally towards at least 139.50 levels.

Trading recommendations:

Initiate long positions now, stop at 136.00, target is open.

Good luck!

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Technical analysis of GBP/CHF for Aug 26, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has run through the 1.5200 levels for now, after printing lows at 1.5050 last week. The pair could still test the falling trend line at 1.5250 levels as seen here; before dipping lower further. It is recommended to initiate short positions around 1.5250 region.

2. Support is seen at 1.4950/60, followed by 1.4770 and lower while resistance is seen at 1.5250, followed by 1.5350 and 1.5450 respectively.

3. The structure indicates that GBP/CHF could face resistance around 1.5250 levels and turn lower.

Trading recommendations:

Initiate short positions around 1.5250 levels.

Good luck!

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Technical analysis of Gold for Aug 26, 2014 Trend News

Technical outlook and chart setups:

1. Gold has remained sideways since last 2 trading sessions as seen here. The metal seems to have formed base around the $1,271.00 level and should be ready to rally higher from here on. It is recommended to remain long for now.

2. Support is seen at $1,270.00 (interim), followed by $1,260.00, $1,240.00, while resistance is seen at $1,324.00, followed by $1,340.00 and higher respectively.

3. The structure indicates that Gold remains in control of bulls untill prices remain above $1,260.00/40.00 levels.

Trading recommendations:

Remain long, stop below $1,270.00, target is open.

Good luck!

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Daily analysis of USDX for August 26, 2014 Trend News

Daily chart: The USDX opened the week with a bullish gap. So far, this instrument has not filled this gap. Now, the USDX is trying to stay above the level of 82.51, so it is likely to begin to form a bullish pattern to climb up to the resistance level of 83.22. The MACD indicator is in positive territory.

H4 chart: The USDX is finding support on the bullish trend line that is near the level of 82.55. So this instrument could perform a corrective movement to fill the gap. Now, the USDX has formed a fractal, so the USDX could climb up to the resistance level of 82.80. The MACD indicator stays in positive territory.

H1 chart: The USDX continues to find support at the level of 82.50 since this instrument opened the week with a bullish gap. So the USDX is trying to climb back up to the resistance level of 82.67. If the USDX manages to make a breakout at that level, the next target would be the resistance level of 82.85. The MACD indicator is entering neutral 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 82.67, take profit is at 82.85, and stop loss is at 82.49.

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

Daily chart: GBP/USD has made a rebound in the support level of 1.6540 so that it is trying to climb to the 200-day moving average which is close to the resistance level of 1.6668. If GBP/USD manages to make a breakout at that level, it would be expected to rise to the level of 1.6766, which would be the beginning of a bullish trend in the medium term. The MACD indicator is in negative territory.

H4 chart: This pair has filled the gap that left open this week, so it encountered resistance at the resistance level of 1.6583. Now, the GBP/USD pair could be a breakout at the support level of 1.6553 to fall to the next objective at the level of 1.6464. For now, we recommend caution when placing buy orders at the current levels. The MACD indicator stays in positive territory.

H1 chart: The GBP/USD pair tried to consolidate above the resistance level of 1.6578, but now this pair is making a pullback at current levels. So the GBP/USD may fall to the support level of 1.6544. There, it is likely that this pair will start to form a bearish pattern again. The MACD indicator is in negative territory.

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 1.6544, take profit is at 1.6507, and stop loss is at 1.6581.

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

Overview:

USD/JPY is expected to consolidate with a bullish bias after hitting a seven-month high at 104.49 this morning. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 82.56 versus 82.16 early Friday) after less-dovish-than-expected speech from Federal Reserve chairwoman Janet Yellen at Jackson Hole on Friday. Her comments appeared more neutral than previously about concerns over slack in the labor market, encouraging market participants to prepare for the eventual rise in official short-term interest rates. USD/JPY is also supported by the demand from Japanese importers as well as rise in shorter-dated U.S. Treasury yields (2-year at 0.492% versus 0.468% late Thursday). But USD/JPY gains are tempered by the Japanese export sales and selling of yen crosses amid diminished investor risk appetite (S&P 500 slipped 0.2% Friday to close at 1,988.4) on fresh signs of Russia-Ukraine geopolitical tensions.

Technical comment:
The daily chart is positive-biased as MACD and stochastics are bullish, although the latter is at overbought; five and 15-day moving averages are advancing.

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 104.25 and the second target at 104.50. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 103.40. A break of this target would push the pair further downwards and one may expect the second target at 103. The pivot point is at 103.65.

Resistance levels:

104.25

104.50

104.80

Support levels:

103.40

103

102.70

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

Overview:

USD/CHF is expected to consolidate with a bullish bias after hitting a nine-month high at 0.9179 this morning. It is underpinned by the positive dollar sentiment and dovish Swiss National Bank's monetary policy. But USD/CHF gains are tempered by the flows to haven CHF on renewed Russia-Ukraine geopolitical tensions. The daily chart is positive-biased as MACD and stochastics is bullish, although the latter is in the overbought zone, five and 15-day moving averages are advancing.

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 0.9180 and the second target at 0.92. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9110. A break of this target would push the pair further downwards and one may expect the second target at 0.9070. The pivot point is at 0.9125.

Resistance levels:

0.9180

0.92

0.9225



Support levels:

0.9110

0.9070

0.9050

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

Overview:

NZD/USD is expected to consolidate with a bearish bias after hitting a near-six-month low 0.8336 this morning. It is undermined by the positive dollar sentiment, waning investor risk appetite and weak dairy prices; reduced expectations of further rate hikes from the Reserve Bank of New Zealand this year and Kiwi sales on the buoyant AUD/NZD cross. The daily chart is negative-biased as MACD and stochastics are bearish, although the latter is in the oversold zone, five and 15-day moving averages are 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 0.8335. A break of this target will move the pair further downwards to 0.83. The pivot point stands at 0.8405. 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 0.8435 and the second target at 0.8465.

Resistance levels:

0.8435

0.8465

0.8490

Support levels:

0.8335

0.83

0.8275

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Daily analysis of Silver for August 25, 2014 Trend News

Overview

As shown in the today's H4 chart, the metal failed again to break the support level of 19.30 and is still trading between the support level and below the resistance level of 19.50. Currently, it is bouncing from the support level and ready for the bullish move. So, we still suggest waiting for closing above the resistance level of 19.50 in case of bouncing from the support level. It will give us a new opportunity for more buy signals with the first target few pips below the resistance level of 19.75. Then after breaking this resistance level, silver might open the way towards the resistance level of 20.00, which means more bullish signals. However, as long as the metal trades below the resistance level of 19.50 this cancels the bullish scenario.

Resistance and support levels: R3 (20.00), R2 (19.75), R1 (19.50), S1 (19.30), S2 (19.00), S3(18.75)

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Technical analysis of GBP/JPY for August 25, 2014 Trend News

Overview:

GBP/JPY is expected to trade with a bullish bias. It is weighed by the diminished investor risk appetite, Japanese export sales and the weak EUR sentiment. But GBP/JPY losses are tempered by the demand from Japanese importers and the buoyant USD/JPY undertone. The daily chart is still positive-biased as MACD and stochastics is in a bullish mode, five-day moving average is above 15-day MA and is advancing.

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 172.70 and the second target at 172.90. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 171.50. A break of this target would push the pair further downwards and one may expect the second target at 171.15. The pivot point is at 171.90.

Resistance levels:

172.70

172.90

173.30



Support levels:

171.50

171.15

170.75

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Daily analysis of GBP/JPY for August 25, 2014 Trend News

Overview

From the today's H4 chart, yesterday's closing below the Resistance level of 172.60 gives the price an opportunity for a bearish move after its failure to break the resistance level. As shown in the chart, the price is trying to continue its bearish move by breaking the Support level 172.00 and closing 4h below. In that case, we might get another opportunity for more sell signals and it opens the way towards 171.50 as the first target. Then, the price should test the support level to continue its bearish move. But in case the price stabilizes above the Support level of 172.00, this will cancels the first scenario.

Resistance and Support levels: R3 (173.75), R2(173.30), R1(172.60), S1 (172.00), S2(171.50), S3(171.00)

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EUR/NZD analysis for August 25, 2014 Trend News

Overview:

Since our last analysis, EUR/NZD has been trading upwards. The price tested the level of 1.5826 in an ultra high volume (buying climax) according to the 4H timeframe, which is a sign that buying looks very risky. It is still unsafe for any buying, so watch for potential selling opportunities after retracement. If the price breaks the level of 1.5710 in a higher volume, we may see potential testing the level of 1.5595.

Fibonacci pivot levels :

Resistance levels:

R1: 1.5807

R2: 1.5829

R3: 1.5864

Support levels:

S1: 1.5737

S2: 1.5715

S3: 1.5680

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

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Gold analysis for August 25, 2014 Trend News

Overview:

Since our last analysis, gold has been trading sideways around the price of 1,278.00. We are waiting for more robust activity and larger price action on the market. We got successful rejection from our Fibonacci retracement 61.8%, which caused price to start downward movement. Our Fibonacci expansion 61.8% at the price of 1,284.00 is broken. So, we may see potential testing the level of 1,260.00 (Fibonacci expansion 100%). We can observe very weak demand according to the 4H timeframe, which is a sign that buying looks very risky. Watch for potential selling opportunities after retracement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,283.12

R2: 1,285.32

R3: 1,288.87

Support levels:

S1: 1,276.02

S2: 1,273.82

S3: 1,270.27

Trading recommendations: Buying Gold looks risky since price has broken the support level.

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Weekly technical levels of GBP/USD for August 25-29, 2014 Trend News

Weekly technical levels of the GBP/USD pair.

Overview :

• The psychological level of the GBP/USD pair has set at the level of 1.6627.This level is acting as strong resistance and it coincides with the ratio of 38.2% of Fibonacci retracement levels in the daily chart. Therefore, the first key level will set at the level of 1.6622 (the weekly pivot point). Furthermore, the trend was very clear and was indicating a downtrend. Thus, we expect that the trend is going to call for a bearish market at the level of 1.6622 because sellers are asking for a high price. As a result, sell at the price of 1.6622 with the target of 1.6510. Also, it should be noted that the level of 1.6110 represents the weekly support 1.
  

Observations :

• Major support for August 25-29, 2014: 1.6453


• Major resistance for August 25-29, 2014: 1.6685


• We expect a new range about 195 pips.


• If the trend is upward, then the strength of the currency will be defined as following: GBP is in an uptrend and USD is in a downtrend.


• Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.


• Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy in the long term in this period, you will surely lose your profit.

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

Today's support and resistance levels:

R3: 1.5844

R2: 1.5825

R1: 1.5799

Current spot: 1.5771

S1: 1.5767

S2: 1.5735

S3: 1.5693

Technical summary:

We saw the expected decline in wave c of 2 to just below our target at 1.5716 (the low came in at 1.5693). Now, we are looking for a break above resistance at 1.5824 and more importantly a break above resistance at 1.5867 to confirm that wave 3 is developing for a rally towards at least 1.6188 and more likely even higher towards 1.6496 as we should expect extension in wave 3. Short-term support at 1.5767 will ideally protect the downside for the expected break above 1.5824, but only a break below 1.5692 will delay the expected rally in wave 3.

Trading recommendation:

Our patience was honored and we bought EUR at 1.5725 with a stop at 1.5690. If you are not long in EUR yet, then buy near 1.5767 with the same stop at 1.5690.

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Elliott wave analysis of EUR/JPY for August 25, 2014 Trend News

Today's support and resistance levels:

R3: 137.66

R2: 137.43

R1: 137.30

Current spot: 137.27

S1: 137.14

S2: 137.00

S3: 136.81

Technical summary:

We have seen a rejection from resistance at 138.01, but we are not quite safe yet, as we need a break below support at 136.81 to confirm that the final decline towards 134.34 is developing. As we are locked inside an expanded ending diagonal, the expected decline towards 134.34 is unlikely to be pretty easy. In the short term, we will be looking for minor resistance at 137.30, which ideally will protect the upside for a decline to 136.81 and below, but only a break above resistance at 137.43 will cause concern.

Trading recommendation:

We are short in EUR at 137.75 and will move stop lower to 137.70. If you are not short in EUR yet, then sell a break below 137.14 with the same stop at 137.70.

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

General overview for 25/08/2014 10:30 CET

Green wave b looks like it is going to be more complex and time-consuming as it is evolving into the triangle pattern. When this pattern is completed, one more wave to the downside is anticipated here, with the targets at the level of 1.0926 or 1.0911. Then, an impulsive rebound should happen that will target new highs above the level of 1.0985.

Support/Resistance:

1.1020 - WR1

1.0985 - Swing High | Intraday Resistance|

1.0947 - Weekly Pivot

1.0926 - Intraday Support

1.0911 - WS1

Trading recommendations:

Traders should wait until the corrective cycle is completed and open the buy positions to trade in the direction of the larger time frame trend. Anticipated entry levels are shown on the chart.

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

General overview for 25/08/2014 10:00 CET

The wave 2 of 3 high at the level of 137.98 is the point of the reference for the further wave progression in this pair. The overall cycle is bearish. Currently, the market should gain more momentum as the wave -iii- to the downside is in progress. The intraday support level has been broken. The market is in the neutral zone and only a sustained breakout above the golden trendline could make the bulls regain the control. Otherwise, more downward price target should be seen soon, with the first support at the level of 136.85.

Support/Resistance:

138.05 - WR1

138.02 - Swing High |Invalidation Level|

137.98 - Wave 2 of 3 High

137.42 - Weekly Pivot

137.25 - Intraday Support

136.85 - WS1

136.70 - Bearish Zone Level

136.24 - WS2

Trading recommendations:

The short orders from the last week with SL above the level of 138.02 should be still kept open. New short orders can be added from the current price levels with the same SL as before and TP at the level of 136.70 with a very possible downside extension to the level of 135.70.

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#USDX Technical analysis for August 25, 2014 Trend News

The Dollar index has given a buy signal from Friday. Today's gap up has brought it to new highs closer to our bullish flag target. The trend remains up but bulls should be very cautious. Price has held support levels on Friday and bounced breaking above the trend line resistance that gave us the buy signal at 82.20-82.25. Now, at 82.55 after making a high at 82.64, the pull back is a quite normal reaction to profit taking.

The Dollar index remains above the Ichimoku cloud. The gap up may be an exhaustion gap as we are at the final stages of the upward move from 79.75. Support is critical at 82.15. Breaking below that level will confirm that the up trend is complete and over.

In the daily chart, price has touched the upper channel boundaries. This is a typical chartacteristic at the end of big moves. So bulls should be very cautious and raise their stops as we might see a reversal from the current levels. Profit taking is preferred but not going short as this would be against the trend.

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Gold Wave analysis for August 25, 2014 Trend News

Gold price has not made much progress either to the upside or to the downside. After making a low at $1,271 the upward bounce was weak and price is falling once again but not as strongly as before. The trend is neutral.

The short-term trend remains down as price is below the Ichimoku cloud in the 4 hour chart and still inside the downward sloping channel. Price is making lower highs and lower lows. Support is found at $1,271. If support is broken, next support is at $1,264. Resistance is found at $1,284. If broken, we could see an upward move to $1,300.

Critical support is found at the $1,260-70 area. If our wave count is correct, we should soon start an upward reversal that will bring Gold price towards the $1,340-50 area. However, price is well below the Ichimoku cloud in the daily chart. At $1,295 is the lower end of the Ichimoku cloud. Gold bulls will need to move back above that level in order to have hopes of reaching $1,350.

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Intraday analysis of GBP/JPY for August 25, 2014 Trend News

The pair has been able to close above 20DSma for the last 3 days. The pair is trading at the multi- resistance level at 172.64 above this, 172.95 (the 50.0 fib level), and 173. We expect the pair to touch 173.50 this week. A weekly close is above 173. The short-term strength will regain for the levels between 174.20 and 174.50. On the down side, it has support at 172.30 (100DSma) and 172.10 (20DSma). A daily close is below 172; it will fall down to the levels between 171.63 and 171.

Intraday cmp

The prices are closed and trading above the 12 ema and the &34 hrsma levels. In the current h4 candle, the pair is facing resistance at 172.66. Above this,it is only safe to buy for intraday basis. On the down side, it has support at 172.33, 172.10, and 171.75 levels.

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Weekly forecast and an intraday recommendation on Gold for August 25-29, 2014 Trend News

Weekly view (August 25-29)

The Federal reserve is likely to hike interest rates earlier than expected. The yellow metal lost its shine, drifted to a 2-month low. The metal is trading in a verge of the 8 month old support trend line. On the down side, it has monthly support at the $1,240 levels. On the upper side, it has resistance at $1,291.50. Until the metal closes below $1,291.50, the bears will have control on a weekly basis. On the down side, it has support at $1,270, $1,266 and $1,260 is the weekly support level. On a daily basis, the metal is expected to close above $1,285 to recover its losses. If not on the downside, $1,259 is an inital open target.

Support is at $1,270, $1,266, and $1,260-$1,258.50.

Resistance is at $1,285, $1,291, and 1303.50.

Intraday cmp $1,278.30

The metal opened its session with a minor bearish note. The prices are closed and trading below $1,2ema, negative for hourly and intraday as well. The metal could face further downside move until the price closes below $1,281 (12ema). Selling on every rise will mint the money. In early Asia's session, the metal rejected exactly from 12ema in H4 chart. If the metal manages to close a candle in h4 chart above $1,281, it can fly up to $1,284 and $1,290 levels.

A daily close above the weekly trend turns to positive. - Pending

A candle closes above $1,281, hourly trading turns to positive. - Pending

Safe buy above $1,283.

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Weekly forecast and an intraday analysis of EUR/USD for August 25-29, 2014 Trend News

EUR/USD

The pair is trading at 11-month low; it closed below the 61.8 fib level in the monthly chart. The pair made a low at 1.3186 in early Pacific session. On the downside, it has support at 1.3174 (the low in August 2013 ) and 1.3105 (the low in September 2013). The pair is trading with a long-term bearish sign; it closed below the 2 and half year's support trend line. The Dollar enjoying a tremendous strength against its counter pairs.

Until the pair closes above 1.3420, selling on a rally will mint the money on a monthly basis attracting lower targets at the 1.31, 1.3 and 1.2750 levels in the medium term.

Weekly support (August 25- 29)

Support 1.3160 1.3105

Resistance 1.3240 1.3295

Intraday cmp 1.3199

The pair made a low at 1.3186 in early Pacific session. In the H1 chart, the pair made a minor support at the 1.3197 and 1.3191 levels. On the upper side, it has resistance at 1.3224, 1.3250 and 1.3262. Until the H1 candle closes above 1.3224, the pair looks weak. For an intraday basis, until the price closes above 1.3250 in H4 chart, the weakness still underpins the pair.

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