Technical analysis of EUR/USD for September 03, 2014 Trend News

When the European market opens, some economic news will be released such as Spanish Services PMI, Italian Services PMI, Final Services PMI, and Retail Sales m/m.The US will release its Factory Orders m/m and Total Vehicle Sales data. So amid the reports, EUR/USD will move low to medium volatility during this day.

Today's technical levels:

Breakout BUY Level: 1.3194.

Strong Resistance:1.3186.

Original Resistance: 1.3173.

Inner Sell Area: 1.3160.

Target Inner Area: 1.3129.

Inner Buy Area: 1.3098.

Original Support: 1.3085.

Strong Support: 1.3072.

Breakout SELL Level: 1.3064. 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 September 03, 2014 Trend News

In Asia, Japan will not release any economic data but the US will release its Factory Orders m/m, and Total Vehicle Sales data. So there is a big probability the USD/JPY pair will move with low volatility during the day.

Today's technical levels:

Resistance. 3: 105.73.

Resistance. 2: 105.52.

Resistance. 1: 105.31.

Support. 1: 105.06.

Support. 2: 104.85.

Support. 3: 104.64.

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 EUR/JPY for Sep 03, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair is extending rally above 138.00 levels as expected. Minimum expectations are into the 139.40 levels and potential remains into the 141.50/60 levels. It is recommended to remain long for now, risk remains at 136.50.

2. Support is seen at 136.50, followed by 136.00 and lower while resistance is seen at 139.30, followed by 140.10 and higher respectively.

3. The structure indicates that EUR/JPY remains firmly in control of bulls.

Trading recommendations:

Remain long, stop at 136.50, target is open.

Good luck!

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Technical analysis of GBP/CHF for Sep 03, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has reacted with an engulfing bearish candlestick signal around 1.5250/60 levels as seen here. The pair has reacted from fibonacci 0.618 resistance level and should continue drifting lower. It is recommended to remain short, risk remains above 1.5450.

2. Support is seen at 1.4960, followed by 1.4760/70 and lower while resistance is seen at 1.5350, and 1.5450 respectively.

3. The structure indicates that GBP/CHF is in control of bears for now.

Trading recommendations:

Remain short, stop above 1.5450, target is open.

Good luck!

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Technical analysis of Silver for September 03, 2014 Trend News

Technical outlook and chart setups:

1. Silver dropped to sub $19.00 levels yesterday. Please note that the metal is lying at 0.786 fibonacci support of the rally between $18.60 and $21.70 levels. It is recommended to remain long, risk remains below $19.00 levels.

2. Support is seen at $19.00, followed by $18.60 and lower while resistance is seen at $20.20, followed by $21.20, $21.70 and higher up respectively.

3. The structure indicates that silver remains constructive for bulls till prices remain above $19.00 and $18.60 levels for now.

Trading recommendations:

Remain long. Stop below $19.00, target is open.

Good luck!

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Technical analysis of Gold for Sep 03, 2014 Trend News

Technical outlook and chart setups:

1. Gold has dropped towards $1,262.50 levels yesterday, a tad below our expectations. Please note that this is fibonacci 0.786 support level of the rally between $1,24.000 and $1,340.00 as seen here. It is still recommended to plan initiate long positions after watching for a bullish bounce.

2. Support is seen at $1,260.00, followed by $1,240.00 while resistance is seen at $1,296.00, followed by $1,324.00, $1,340.00 and higher.

3. The structure indicates that Gold still remains constructive for bulls, till prices remain above $1,260.00 and $1,240.00 levels.

Trading recommendations:

Flat for now, looking to re-enter long.

Good luck!

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Daily analysis of major pairs for September 3, 2014 Trend News

EUR/USD: Surprisingly, the EUR/USD pair did not go downwards like its GBP/USD counterpart. After all, when the former was trending downwards, the latter was adamant. But the bias on the EUR/USD is bearish and it may eventually yield to gravity and move towards the support line at 1.3100.

USD/CHF: So far this week, this market has been going upwards. It was able to breach the price level at 0.9200 before retracing downwards a little. There is a support level at 0.9150, which would act as an impediment to any further bearish retracement. Meanwhile, it is expected that the price would go further upwards, testing the resistance level at 0.9200 again.

GBP/USD: The Forex markets are now trending strongly. For example, the Cable has been caught in a bearish continuation movement. The price fell by roughly 140 pips yesterday, going below the distribution territory at 1.6500. The next target would be the accumulation at 1.6450.

USD/JPY: The Bullish Confirmation Pattern in this market is now particularly strong. The price is trading above the demand level at 105.00: it may go upwards towards the supply level at 105.50. Our target for this week has been reached, but the market has the potential to go further upwards towards the aforementioned supply level.

EUR/JPY: The weakness in the JPY (which is very weak right now), has caused this cross to form a ‘buy’ signal since yesterday. The price has now crossed the EMAs 56 and 11 to the upside, while the RSI period 14 has crossed the level 50 to the upside. The market has tested the supply level at 138.00, and it may breach it to the upside.

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Daily analysis of USDX for September 03, 2014 Trend News

Daily chart: The USDX is trying to climb up to the resistance level of 83.22, so it is very likely that the USDX will begin another bullish pattern. If the USDX manages to make a breakout at that level, the next would be the resistance level of 83.74. The MACD indicator stays in positive territory.

H4 chart: The USDX is trying to form a higher high pattern above the bullish trend line, so the USDX could rise to the level of 83.70 in the medium term. The USDX is maintained above the 200-day moving average and the MACD indicator stays in positive territory.

H1 chart: The USDX has moved in a range below the resistance level of 82.97, although this instrument remains strong in the bullish trend. If the USDX manages to make a breakout at the resistance level of 83.27, it's expected to that rise to the level of 83.52. The MACD indicator remains in negative 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 82.85, take profit is at 82.97, and stop loss is at 82.72.

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Daily analysis of GBP/USD for September 03, 2014 Trend News

Daily chart: GBP/USD has made a breakout at the support level of 1.6540, by what this pair has been consolidated in the bearish trend since close, near the support level of 1.6447. If GBP/USD manages to make a breakout at that level, the next target would be the support level of 1.6326.

H4 chart: This pair encountered strong resistance at the 1.6644 level by what is now consolidating below the level of 1.6553. Now, GBP/USD could begin to form a bearish pattern. The MACD indicator remains in negative territory.

H1 chart: This pair is forming a lower low pattern below the resistance level of 1.6507. If GBP/USD manages to make a breakout at the support level of 1.6464, it's expected to fall to the level of 1.6419. The GBP/USD pair is far removed from the 200-day moving average. The MACD indicator is entering area of 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 1.6578, take profit is at 1.6544, and stop loss is at 1.6611.

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Technical analysis of USD/JPY for Sep 02, 2014 Trend News

Overview:

USD/JPY is expected to trade in a higher range. Spotlight is on Tuesday on 1400 GMT U.S. August ISM manufacturing PMI (forecast 56.8 versus July's 57.1). USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 82.76 versus 82.73 early Monday) on recent upbeat U.S. economic data (U.S. August ISM Chicago PMI and University of Michigan consumer sentiment index data released on Friday beat forecasts), yen-funded carry trades amid the positive investor risk appetite (FTSE Eurofirst gained 0.22% Monday to close at 1,376.83; Shanghai Composite rose 0.83% Monday) as soft China August manufacturing PMI data raised hopes for more stimulus measures from Beijing. USD/JPY is also supported by the demand from Japanese importers and lower Markit/JMMA Japan final August manufacturing PMI of 52.2 versus preliminary reading of 52.4. But USD/JPY gains are tempered by Japanese export sales and lingering worries over the situation in Ukraine.

Technical comment:
The daily chart is positive-biased as MACD is bullish, stochastics stays elevated 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 105.20 and the second target at 105.40. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 104.20. A break of this target would push the pair further downwards and one may expect the second target at 104. The pivot point is at 104.35.

Resistance levels:

105.20

105.40

105.60

Support levels:

104.20

104

103.75

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Technical analysis of USD/CHF for Sep 02, 2014 Trend News

Overview:

USD/CHF is expected to consolidate with a bullish bias after hitting a nine-and-a-half month high of 0.9197 on Monday. It is supported by the positive dollar sentiment, contagion from weak EUR on CHF and dovish Swiss National Bank's monetary policy as well as franc sales on rebounding EUR/CHF cross. But the CHF sentiment soothed by higher Switzerland August PMI of 52.9 versus forecast of 52.7. The daily chart is positive-biased as MACD is bullish, stochastics stays elevated in the overbought zone, 5 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 0.9230 and the second target at 0.9255. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9160. A break of this target would push the pair further downwards and one may expect the second target at 0.9135. The pivot point is at 0.9175.

Resistance levels:

0.9230

0.9255

0.9280



Support levels:

0.9160

0.9135

0.91

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Technical analysis of NZD/USD for Sep 02, 2014 Trend News

Overview:

NZD/USD is expected to trade in a lower range. It is supported by the Kiwi demand on the retreating AUD/NZD cross and better-than-expected New Zealand 2Q terms of trade, NZD-USD interest differential , and positive investor risk appetite. But NZD/USD gains are tempered by the positive dollar sentiment, weak dairy prices and reduced expectations of further rate hikes from the Reserve Bank of New Zealand this year. The daily chart is tilting positive as stochastics is in a bullish mode, MACD is turning bullish.

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 0.83. A break of this target will move the pair further downwards to 0.8270. The pivot point stands at 0.8380. 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:

0.83

0.8270

0.8245

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Technical analysis of GBP/JPY for Sep 02, 2014 Trend News

Overview:

GBP/JPY is expected to trade in a higher range. It is supported by the buoyant USD/JPY undertone and demand from Japanese importers. But GBP/JPY gains are tempered by the weak EUR sentiment and Japanese export sales. The daily chart is mixed as MACD is flat, stochastics is turning neutral, inside-day-range pattern was completed on Monday.

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 174 and the second target at 174.50. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 172.55. A break of this target would push the pair further downwards and one may expect the second target at 172.30. The pivot point is at 173.05.

Resistance levels:

174

174.50

174.75



Support levels:

172.55

172.30

172

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EUR/NZD analysis for September 02, 2014 Trend News

Overview:

Since our last analysis, EUR/NZD has been trading upwards. The price tested the level of 1.5748 in a volume above average. It is still unsafe to buy anything, so watch for potential selling opportunities after retracement. I have placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 38.2% at the price of 1.5740 and Fibonacci retracement 61.8% at the price of 1.5800. According to the 4H time frame, we are in a bullish corrective phase.

Daily Fibonacci pivot levels :

Resistance levels:

R1: 1.5711

R2: 1.5728

R3: 1.5756

Support levels:

S1: 1.5656

S2: 1.5639

S3: 1.5612

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

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Daily analysis of Silver for September 02, 2014 Trend News

Overview

According to the shown H4 chart, the price's closure below the level of 19.50 yesterday gave new opportunities for sell-signals. Currently, the metal has already managed to break the support area to trade below it and open the way towards the level of 19.20 as the first target. Then, the metal should test the support level of 19.20 in order to get more bearish move till reaching the support level of 18.90 as the second target. On the other hand, the metal's rebound from the support level of 19.20 cancels bullish scenario.

Resistance and support levels: R3 (20.00), R2 (19.75), R1 (19.50), S1 (19.20), S2 (18.90), S3 (18.75).

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Daily analysis of GBP/JPY for September 02, 2014 Trend News

Overview

As it was expected last week, more bullish signals would be expected in case of closing above the resistance level of 172.60. Today, as it is shown in the H4 chart, the pair has already managed to break the resistance level and close 4H above it. Currently,the pair is approaching the resistance level of 173.80 trying to break it through to continue the upward move. More bullish signals would be expected in case of closing 4H above this resistance level with the first target few pips below the resistance level of 174.40, then 175.00 as the second target.

Resistance and support levels: R3 (175.00),R2 (174.40), R1 (173.80), S1 (173.30), S2 (172.60), S3(172.00)

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Technical analysis of AUD/USD for September 2, 2014 Trend News

Overview :

• The AUD/USD pair had a breakdown and extended further to as low as 0.9270 last week. It closed at 0.9285 today as well as the price was placed below 50% of Fibonacci retracement levels for two days. In addition, it should be noted that the price had formed strong support at the level of 0.9270 (also, you might note that the price of 0.9270 represents the double bottom in H4). Futhermore, this strong level has still been trapped between 50% of Fibonacci retracement levels and 23.6% in H4 chart. We expect a range of 40 pips to 53 pips today. Accordingly, it means probably that the market will start showing the signs of a bullish market again in order to indicate a bullish opportunity in the short term from the 0.9300 level or 23.6% of Fibonacci retracement levels with a target towards the strong resistance around 0.9300. Meanwhile, the bulls will be forced to pull back below the level of this area. Thus, this level will act as a spot to sell in the long term on September 2, 2014. Therefore, it will a good sign to sell below 0.9305 with a target at the price of 0.9270 in order to form a double bottom.

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Technical analysis of NZD/USD for September 2, 2014 Trend News

Overview :

• The NZD/USD pair is going to continue its rise upright from the price of 0.8310 in the short term. Equally importantly, it should be noted that 00% of Fibonacci retracement levels as well as the level of 0.8310 represent the same price which is probably going to form a double bottom. Accordingly, the Kiwi is showing signs of strength following the break of the highest level of 0.8310. So, it will be a good sign to buy above the level of 0.8310 (00% of Fibonacci retracement levels in H4 chart) with the first target of 0.8371 and further to 0.8433 (it will act as strong resistance, for that it is going to be a good place to take profit. Also, it should be noticed that the level of taking profit will coincide with 23.6% of Fibonacci retracement levels).
  


• On the other hand, in case reversal takes place and the NZD/USD pair breaks through the support level of 0.8310, then the market will lead to further decline to 0.8266 in order to indicate for a bearish market.

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Technical analysis of EUR/JPY for September 2, 2014 Trend News

General overview for 02/09/2014 11:50 CET

There complex corrective structure labeled as WXY brown is developing as anticipated. After blue wave (b) is completed, higher prices are expected. The fist minimum target for blue wave (c) is at the level of 138.15 but further upside levels are possible as well. The key intraday level for bulls is intraday support at the level of 137.40 and a rebound is expected either there or from the lower channel line somewhere at the level of 137.10.

Support/Resistance:

138.15 - WR2

137.98 - Intraday Resistance | Technical Resistance|

137.40 - Intraday Support

137.37 - WR1

136.90 - Weekly Pivot

Trading recommendations:

All traders who had opened buy positions should keep an eye on the level of 137.98: breakout higher is bullish and a failure here is bearish.

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Technical analysis of USD/CAD for September 2, 2014 Trend News

General overview for 02/09/2014 10:50 CET

There are two possible wave developments that can happen on this market and the key level seems to be the intraday resistance at the level of 1.0926. Any breakout higher favours the main count, that indicates a bullish impulsive wave progression that will make the old swing high at the first target and then will try to break even higher. The alternative count indicates more time-consuming corrective green wave 2. A little more of downside development might happen if the level of 1.0926 is not broken. The target level for green wave C of green wave 2 as well as the possible end of the alternative corrective cycle is projected at the level of 1.0740 - 1.0726.

Support/Resistance:

1.0995 - Swing High

1.0965 - WR1

1.0926 - Intraday Resistance | Key Level |

1.0887 - Weekly Pivot

1.0792 - Technical Support

1.0784 - WS1

1.0740 - 1.0726 - Projected Target Zone

Trading recommendations:

All traders who had opened buy positions should keep an eye on the level of 1.0926: breakout higher is bullish and a failure here is bearish.

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Elliott wave analysis of EUR/NZD for September 2, 2014 Trend News

Today's support and resistance levels:

R3: 1.5782

R2: 1.5760

R1: 1.5743

Current spot: 1.5721

S1: 1.5709

S2: 1.5701

S3: 1.5690

Technical summary:

The rally above 1.5725 indicates that wave 2 ended early at 1.5646 and wave 3 higher is already developing. In short run, we could see a minor correction towards 1.5683 before the next rally higher to challenge resistance at 1.5782 and a break above here confirms that wave 2 is over, wave 3 is higher to 1.5898, and 1.6203 is developing. It will take an unexpected decline below 1.5646 to alter this count and indicate an even more complex correctin, than it is developing now.

Trading recommendation:

We missed our EUR buy-order at 1.5595, but have instead bought EUR at 1.5725 and will place our stop at 1.5640. If you are not long in EUR yet, then buy EUR near 1.5683 with the same stop at 1.5640.

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#USDX Technical analysis for September 2, 2014 Trend News

The Dollar index gave a new higher high yesterday as expected very close to our 83 target. The trend remains up. Bulls should raise their stops to protect their positions. The Dollar index continues to make higher highs and higher lows. In our past analysis during early August, I mentioned that the bullish flag target was 83-84. We reached the first level.

Price remains above the Ichimoku cloud and above the red trend line support. Support is found at 82.75 and 82.60. Resistance is at 83 and 83.40. The trend remains bullish. As long as price is above 82.65, we remain short-term bullish.

The daily chart continues to stay bullish. Price is inside the upward sloping channel and above the Ichimoku cloud. Support is found at 82.50. A daily close below 82.50 will give me a daily sell signal that could push the index towards 82 at least if not touch the cloud at 81.30.

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Elliott wave analysis of EUR/JPY for September 02, 2014 Trend News

Today's support and resistance levels:

R3: 138.00

R2: 137.90

R1: 137.73

Current spot: 137.50

S1: 137.43

S2: 137.27

S3: 137.17

Technical summary:

The break above minor resistance at 137.29 has put the inverse S/H/S bottom into play. We still need a clear break above the neckline at 138.00 to trigger this bottom-formation, but if triggered we have a firm indication, that the bottom was found prematurely at 135.73. This premature bottom indicates underlying strength in this cross and a strong rally could be developing. We have been aware, that the decline from 145.69 was a correction and more upside was expected once this correction was over. So, even though this correction did not make it down to the ideal equality target at 134.34, this rally should come as no big surprise. Ideally we will see minor support near 137.43 to protect the downside for the test of the neckline resistance at 138.00.

Trading recommendation:

Our stop+reverse was triggered at 137.35. This gave us a nice little profit and positioned us for the expcted rally to 138.00 and likely above. We will place our new stop at 136.45. If you are not long in EUR yet, then buy EUR near 137.43 with the same stop at 136.45.

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Gold Technical analysis for September 2, 2014 Trend News

Gold price has broken short-term support at $1,280and is testing the lows at $1,270. Critical support is at that level. Our bullish scenario is now in danger of getting canceled. The bearish scenario sees Gold price to move to $1,200.

Gold price has broken the previous low at $1,280. Price remains below Ichimoku cloud and is testing previous lows at $1,270. Resistance is found at $1,295-90. As long as price is below that level, we should expect the downtrend to remain strong. When price breaks below $1,270, we should expect a strong sell off.

The price level at $1,270 is where the red upward trend line is found. Breaking that level will cancel my wave count and will put pressures on Gold price with $1,200 as a potential target. Price is still below the Ichimoku cloud in the daily chart. As long as price is below the cloud, the trend will remain bearish. $1,295 is a critical resistance level and should be used as a stop for short positions.

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Daily analysis of major pairs for September 2, 2014 Trend News

EUR/USD: In a slow and a steady manner, the EUR/USD pair has been able to continue its decline, gradually breaking one support line after the other. There is a Bearish Confirmation Pattern in the chart. The price now is below the resistance line at 1.3150, and it may end up testing the support line at 1.3100.

USD/CHF: This currency trading instrument has been able to breach the support level at 0.9200 to the upside. The price has closed above that level. Currently, it is poised to move further upwards. However, this may be in a slow and steady manner.

GBP/USD: The GBP/USD pair has been consolidating seriously lately. The GBP is strong on its own, but it is still weaker than the USD; hence, the see the current price action. The volatility may prompt the price to test the accumulation territory at 1.6550. The same volatility may also cause the price to reach the distribution territory at 1.6650.

USD/JPY: It is not a surprise that the USD/JPY pair has been able to continue its bullish journey. Even, a weak currency like the EUR is now up against the JPY, the latter is very weak right now. The USD/JPY pair has been able to go above the demand level at 104.50. The next target is at the supply level of 105.00.

EUR/JPY: Really, the JPY is now so weak that, even a weak currency like the EUR can go up against it. That is the case which made this cross jumped upwards considerably. The jump up is significant enough to overcome the recent bearish outlook. The price is now trading above the demand zone at 137.50, and it should go further upwards, reaching the supply zone at 138.00. There is now a bullish signal in the market.

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Intraday trading recommendations on GBP/JPY for September 02, 2014 Trend News

The pair came out of the 2-month descending trend line, closed above that and closed above 50Dsma in the daily chart. It shows, the bulls have an upper hand. The pair can touch the 174.20 and 174.35 levels until its prices closes above 173.14. The pair has support at 173.14, 172.70, and 172.55 levels. Use a dip to buy.

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Intraday trading recommendations on EUR/JPY for September 02, 2014 Trend News

The pair has been taken minor support at 136.60 for 6 weeks on a closing basis. On the higher side, it has resistance at the 138.02 level. On an intraweek basis, 138.25 is the strong resistance. A week close above 138.25 leads to strong up move in the near term. In the Pacific session, the pair is trading at 137.30. We strongly recommend buying above 137.40 with an hourly target between 137.50 -137.57. In case a daily close is above 137.50, the intra week turns to positive at 137.66 and 138.02.

For an hourly perspective, the support levels existed between 137 and 136.90. Sell only below 136.85.

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Intraday levels and trading recommendations on Gold for September 02, 2014 Trend News

The yellow metal in yesteday's session rejected from 50Wsma or $1,291, made high at $1,288.30 but managed to close slightly above 200Dsma in the daily chart. It means, the metal is facing selling pressure at higher levels. The metal opened its session today with a minor bearish note. We expect it will correct a bit upwards to the nearest support levels to regain some strength. On the upper side, it has resistance at $1,291 above this; $1,295-$1,296 is the major resistance level.

In case a weekly close is above $1,29, bulls will regain the strength in the near term. - pending

In case a daily close is above $1,296, ST trend turns to positive. - pending

For an hourly trading perspective, we recommend selling only below the $1,285 level. On the down side, it has targets at $1,282, $1,281, and $1,280 levels; break below $1,279.50 more downside is expected to $1,277.50, $1,276 and $1,274 levels. Fresh longs only above $1,289 will mint the money.

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Weekly forecast and intraday trading recommendations on GBP/USD for September 02-05, 2014 Trend News

GBP/USD

The UK manufacturing slipped to a 14-month low at 54.8 in the previous month. In yesterday's session, the pair rejected at 100Dsma and closed below that. On the upside, the pair has strong resistance at 1.6664 or 200Ema on a weekly basis. Until the pair closes above this, bears will have an upper hand. Selling on every up move still keeps gainful deals this week as well. Traders can sell at camp 1.6612 and on rise up to 1.666, sl 1.6680 is holding until the sl is taken off. It's a positional trade. On the down side, the target existed at 1.6580 (50WSma) below this, steep fall is expected to the 1.6563, 1.6539, 1.6524, and 1.6465 levels. By the end of this week, if the pair closes above 1.6580 (50WSma) on the downside, 1.6465 is an initial open target; later 1.6252 and 1.6210 are medium-term targets.

Weekly basis: sell on every up move with sl at 1.6680.

Weekly close below 1.6580 means more bearish tone towards 1.6465 and 1.6250. - pending

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Technical analysis of GBP/CHF for Sep 02, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has reached the 1.5250 mark as discussed and expected earlier. Please note that this 1.5250 is also the fibonacci 0.618 resistance os the entire fall from 1.5450 to 1.5050. It is recommended to remain short and also initiate further short positions now, risk remains above 1.5450.

2. Support is seen at 1.4970/80, followed by 1.4750/60 and lower while resistance is seen at 1.5350 and 1.5450 respectively.

3. The structure indicates that GBP/CHF pair shall remain bearish till prices are below 1.5430/50 levels.

Trading recommendations:

Remain short, stop above 1.5450, target is open.

Good luck!

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Technical analysis of EUR/USD for September 02, 2014 Trend News

When the European market opens, some economic news will be released such as Spanish Unemployment Change, PPI m/m.The US will release its Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, and ISM Manufacturing Prices. So amid the reports, EUR/USD will move low to medium volatility today.

Today’s technical levels:

Breakout BUY Level: 1.3196.

Strong Resistance:1.3188.

Original Resistance: 1.3175.

Inner Sell Area: 1.3162.

Target Inner Area: 1.3131.

Inner Buy Area: 1.3100.

Original Support: 1.3087.

Strong Support: 1.3074.

Breakout SELL Level: 1.3066.

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 Silver for Sep 02, 2014 Trend News

Technical outlook and chart setups:

1. Silver is still looking to carve a higher low ahead of $19.00/20 levels as seen here. The metal is expected to accelerate its rally once prices push above $19.50 levels. It is recommended to remain long, risk remain below $19.00 levels.

2. Support is seen at $19.00, followed by $18.60 and lower while resistance is seen at $20.20, followed by $21.70, $22.30 and higher up respectively.

3. The structure indicates that Silver should remain constructive for bulls till prices remain above $19.00 levels.

Trading recommendations:

Remain long, stop below $19.00, target is open.

Good luck!

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Technical analysis of Gold for Sep 02, 2014 Trend News

Technical outlook and chart setups:

1. Gold is correcting at the moment and support should come in around current levels of $1,283.00 and ahead of $1,271.00. The next leg is expected to be higher towards $1,325.00 and up. It is recommended to remain long, risk remains below $1,270.00.

2. Support is seen at $1,280.00, followed by $1,271.00, $1,260 and below while resistance is seen at $1,325.00, followed by $1,240.00 and higher respectively.

3. The structure indicates that Gold remains constructive till prices remain above $1,271.00 levels.

Trading recommendations:

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

Good luck!

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