Technical analysis of USD/JPY for September 09, 2014 Market Analysis Review

In Asia, Japan will release its Monetary Policy Meeting Minutes, Tertiary Industry Activity m/m, M2 Money Stock y/y, 30-y Bond Auction, Consumer Confidence, and Prelim Machine Tool Orders y/y data. Meanwhile, the US will release its NFIB Small Business Index and OLTS Job Openings. So there is a big probability the USD/JPY pair will move with low to medium volatility during the Asian session, but with low volatility during the US session.

Today’s technical levels:

Resistance. 3: 106.54.

Resistance. 2: 106.33.

Resistance. 1: 106.12.

Support. 1: 105.87.

Support. 2: 105.66.

Support. 3: 105.45. 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/USD for September 09, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as French Gov Budget Balance and French Trade Balance. The US will release its NFIB Small Business Index and JOLTS Job Openings. So amid the reports, EUR/USD will move low volatility during this day.

Today’s technical levels:

Breakout BUY Level: 1.2954.

Strong resistance:1.2947.

Original resistance: 1.2934.

Inner sell area: 1.2921.

Target inner area: 1.2891.

Inner buy area: 1.2861.

Original support: 1.2848.

Strong support: 1.2835.

Breakout SELL level: 1.2828.

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 GBP/CHF for September 09, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair pushed lower into the 1.5000 levels yesterday as expected and discussed, and as seen on the daily chart view here. The pair pulled off the lows and closed around 1.5060 levels, but bearish pressure should remain for a while and intraday rallies should be considered as fresh short opportunities. The 1.5050 mark should now be acting as intermediary resistance. Bears seem to remain under control at least till 1.4800 levels as depicted here, which is fibonacci extension level of the down swing from 1.5430 levels through 1.5050 earlier. The pair, at the moment is still said to be retracing the entire rally from 1.4450 levels through 1.5430 levels as seen here. Immediate support is seen at 1.4960, followed by 1.4760, while resistance is at 1.4250/75, followed by 1.5430 respectively.

Trading recommendations:

Remain short, stop above 1.5300, target 1.4800.

Good luck!

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Technical analysis of EUR/JPY for September 09, 2014 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY bulls responded well at the back side of resistance turned support line yesterday, as expected. The pair has now produced a bullish reversal candlestick pattern as seen on the daily chart view here and prices and prices pushed ahead up to 137.00 mark before closing at 136.80 yesterday. It looks like the bulls are back in control and should continue dragging prices higher up towards 139.80 and subsequently also through 141.30/40 levels. Support is now seen at 136.00/135.80 levels, while resistance is fixed at 138.20 (interim), followed by 139.20, and 140.10 respectively. The structure for now, reveals that bulls remain in control, bottom line remains that 135.80 should hold well.

Trading recommendations:

Remain long for now, stop just below 135.80, target 139.80 at least.

Good luck!

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Daily analysis of major pairs for September 9, 2014 Market Analysis Review

EUR/USD: There is a long-term Bearish Confirmation Pattern in the market. With further weakness in this market, the price has tested the support line at 1.2900. Should the support line at 1.2900 get broken to the downside, the next target would be the support line at 1.2850.

USD/CHF: This is a bull market – which is supposed to continue as long as EUR/USD is weak. The barriers that were once thought as being impregnable (the erstwhile resistance levels) have already been breached to the upside. The market may go further north, reaching another resistance level at 0.9400.

GBP/USD: With a strong weakness in this currency trading instrument, the Bearish Confirmation Pattern in the market is clean and straightforward. Moreover, the price opened this week with a gap-down. In fact, every GBP pair gapped up or down at the open of the markets. The price has trended downwards following the gap and this may be the stance for this week: further movement southwards.

USD/JPY: The markets have been going according to expectation. For instance, USD/JPY has already tested the supply level at 106.00. With more strength in the pair, the supply level might be breached to the upside; and the price may go upwards towards the demand level at 106.50.

EUR/JPY: This cross which went downwards significantly last week, made serious bullish attempts on Monday. The bullish attempts have been formidable enough to pose threat to the recent ‘sell’ signal and the weakness in the yen is one cause of this. Any movement above the supply zone at 137.50 would be the end of the bearish bias. However, as long as the price is below that supply zone, the bearish bias is valid.

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Daily analysis of USDX for September 09, 2014 Market Analysis Review

Daily chart: The USDX had a bullish momentum above the support level of 83.74. So now the USDX is trying to make a breakout at the resistance level of 84.29. If it succeeds, it would be expected to climb up to the resistance level of 85.18, which would be a strong bullish consolidation. The MACD indicator stays in positive territory.

H4 chart: The USDX is trying to consolidate above the bullish trend line near to the level of 84.25. If the USDX succeeds in doing a breakout at the resistance level of 84.47, it's expected to rise to the level of 85.06, bearing in mind that the USDX is entering overbought area. The MACD indicator stays in positive territory.

H1 chart: The USDX is trying to form a higher high pattern above the support level of 84.18. If the USDX manages to make a breakout at the resistance level of 84.37, the next objective would be the level of 84.60. However, the USDX could carry out a pullback and fall back to the support level 84.03. The MACD indicator stays 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 84.37, take profit is at 84.60, and stop loss is at 84.14.

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Daily analysis of GBP/USD for September 09, 2014 Market Analysis Review

Daily chart: GBP/USD failed to fill the bearish gap yesterday, so this pair is consolidating below the resistance level of 1.6146. The next objective for this pair is the level of 1.6043. If GBP/USD manages to make a breakout at that level, it's expected to fall to the support level of 1.5883 in the medium term, although it is likely that the pair will rebound at current levels. The MACD indicator stays in positive territory.

H4 chart: GBP/USD is trying to fall to the support level of 1.6004. If this pair consolidates below that level, the next support level would be 1.5811. GBP/USD remains far from the 200-day moving average and the MACD indicator remains in negative territory.

H1 chart: The GBP/USD encountered resistance at the 1.6170 level, so it is likely that this pair will try a breakout at the support level of 1.6117, and will fall to the level of 1.6075. The MACD indicator is entering neutral 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 will be at 1.6075, take profit is at 1.6031, and stop loss will be at 1.6119.

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WTI rises before new supply data Prime News

West Texas Intermediate gained in value for the first time in four days to usher in official supplies data expected out tomorrow.

Futures for the American benchmark with a delivery date in October climbed to a price per barrel as high as $93.18 after gaining 0.6%. It was trading late morning Sydney time at $93.07 on the New York Mercantile Exchange after closing yesterday at its lowest since January 14th at $92.66. Trading volume for futures was 1% more than the 100 day average.

The Energy Information Administration is set to release on Wednesday the latest round its latest round of statistics which analysts surveyed by Bloomberg News say will show that inventories of crude oil in the US decreased by 1.5 million barrels last week. Survey results indicate that supplies of gasoline were mostly unchanged as of the week of September 5th at 210 million barrels. The US is currently the top consumer of oil in the world.

Resource analyst David Lennox from Sydney’s Fat Prophets says that, “We have the EIA numbers to look out for, they have been showing pretty good trends. Barring any geopolitical events, the oil price might just meander along.”

In Libya, a spokesperson from the National Oil Corp. claimed that the country’s daily oil production has risen to 740,000 barrels.

A separate report from the American Petroleum Institute is expected to release their own supply data later on today which is based off of voluntary information from terminals and refinery operators.

Brent, the European benchmark crude, increased to a price per barrel of $100.26 after climbing by 6 cents. It traded with a premium over WTI of $7.20 after closing at $7.54 yesterday in London’s ICE Futures Europe exchange.

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Technical analysis of USD/JPY for Sep 08, 2014 Market Analysis Review

Fundamnetal Overview:

USD/JPY is expected to consolidate in a higher range after hitting a near-six-year high at 105.71 on Friday (the highest since Oct. 3, 2008). USD/JPY is undermined by the weaker dollar sentiment after fewer-than-expected 142,000 increase in U.S. August non-farm payrolls (versus forecast +225,000). The unemployment rate is slipped to 6.1% last month from 6.2% in July, in line with the forecast, but that came as the labor-force participation rate fell to 62.8% from 62.9% in July. USD/JPY is also weighed by the lower shorter-dated U.S. Treasury yields (2-year at 0.512% versus 0.536% late Thursday as the U.S. yield curve steepened) and Japan exporter sales. But USD/JPY downside is limited by the demand from Japanese importers and reduced safe-haven appeal of the yen as the risk sentiment improves (VIX fear gauge eased 4.35% to 12.09; S&P 500 rose 0.5% to close at 2,007.71 on Friday) as the disappointing payrolls report relieves pressure on Federal Reserve officials to alter significantly their policy stance and the signal they've been sending of continued low interest rates after the expected end of their bond-buying program in October.

Technical comment:
The daily chart is positive-biased as MACD and stochastics are bullish, although 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 105.70 and the second target at 105.90. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 104.70. A break of this target would push the pair further downwards and one may expect the second target at 104.35. The pivot point is at 104.95.

Resistance levels:

105.70

105.90

106.35

Support levels:

104.70

104.35

104

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Technical analysis of USD/CHF for Sep 08, 2014 Market Analysis Review

Fundamental Overview:

USD/CHF is expected to trade in a higher range after hitting a one-year high at 0.9335 on Friday. USD/CHF is undermined by the weaker dollar sentiment after fewer-than-expected 142,000 increase in U.S. August non-farm payrolls (versus forecast +225,000). The unemployment rate slipped to 6.1% last month from 6.2% in July, in line with forecast, but that came as the labor-force participation rate fell to 62.8% from 62.9% in July, it is also weighed by the lower shorter-dated U.S. Treasury yields (2-year at 0.512% versus 0.536% late Thursday as the U.S. yield curve steepened); and franc demand on soft EUR/CHF cross. But USD/CHF downside is limited by the contagion from weak EUR on CHF, dovish Swiss National Bank's monetary policy and franc sales on buoyant AUD/CHF, NZD/CHF crosses.

Technical Comments:
The daily chart is still 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 0.9345 and the second target at 0.9380. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9250. A break of this target would push the pair further downwards and one may expect the second target at 0.9210. The pivot point is at 0.9290.

Resistance levels:

0.9345

0.9380

0.9425



Support levels:

0.9250

0.9210

0.9175

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Technical analysis of NZD/USD for Sep 08 , 2014 Market Analysis Review

Fundamental Overview:

NZD/USD is expected to consolidate in a lower range after hitting a six-and-a-half month low at 0.8267 on Friday. It is supported by the weaker dollar sentiment after fewer-than-expected 142,000 increase in U.S. August non-farm payrolls (versus forecast +225,000). The unemployment rate slipped to 6.1% last month from 6.2% in July, in line with the forecast, but that came as the labor-force participation rate fell to 62.8% from 62.9% in July. USD/JPY also weighed by lower shorter-dated U.S. Treasury yields (2-year at 0.512% versus 0.536% late Thursday as the U.S. yield curve steepened, NZD-USD interest differential, Kiwi demand on soft EUR/NZD and GBP/NZD crosses, and on buoyant NZD/CHF cross. But NZD/USD upside is limited by the Kiwi sales on buoyant AUD/NZD cross and weak dairy prices.

Technical Comment:
The daily chart is mixed as MACD is bearish, 5 and 15-day moving averages are falling, but stochastics is turning bullish to the oversold zone.

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 0.8350 and the second target at 0.8390. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8240. A break of this target would push the pair further downwards and one may expect the second target at 0.8190. The pivot point is at 0.8265.

Resistance levels:

0.8350

0.8390

0.8435

Support levels:

0.8240

0.8190

0.8175

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USD/CAD intraday technical levels and trading recommendations for September 8, 2014 Market Analysis Review

The bullish breakout off the depicted channel allowed the bulls to retest the price zone between 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart) where a prominent congestion zone was previously formed.

One month ago, the USD/CAD pair failed to maintain daily closure above price level of 1.0950, then a double-top reversal pattern was expressed at retesting last week.

As we mentioned before, bearish rejection was anticipated after such a long bullish rally that originated off 1.0650 and 1.0710.

A valid SELL position was suggested at retesting which took place last week. The initial bearish target was located around 1.0825, then 1.0770 (considerable Intraday support).

The price zone of 1.0880-1.0900 still offers a valid low-risk SELL entry as we mentioned last week.

As long as the recent top at 1.0990 remains unbroken, our sell position remains valid.

Daily closure below the price zone of 1.0870-1.0850 confirms a long-term double-top pattern (on the daily chart) with its projection target located at 1.0770.

Note that last week the USD/CAD fell slightly after the release of the PMI data (below expectations), a bearish spike dipped down to 1.0870 before bullish recovery was witnessed.

On the other hand, daily fixation above 1.0950 (50% Fibonacci level) enables the bulls to shoot towards 1.1020 and 1.1050 initially (very low probability in the meantime).

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Technical analysis of GBP/JPY for Sep 08, 2014 Market Analysis Review

Fundamental Overview:
GBP/JPY is expected to consolidate with a bearish bias. The pound sterling is hurt by jitters over increased prospects of Scottish independence after a YouGov survey Saturday showed 47% of respondents said "yes" to independence, while 45% said "no"-- the first time supporters of Scottish independence have taken the lead since the referendum campaign began. Analysts say a vote for Scottish independence on Sept. 18 could have serious repercussions for both the Scottish and U.K. economy, having the potential to cause chaos in financial markets as it brings uncertainty on issues including currency, tax and trade regulations and weaker USD/JPY undertone as well as Japan export sales. But GBP/JPY downside is limited by the demand from Japanese importers.

Technical Comment:
The daily chart is negative-biased as MACD and stochastics are bearish.

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 169.25. A break of this target will move the pair further downwards to 168.55. The pivot point stands at 170.90. 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 171.75 and the second target at 172.35.

Resistance levels:

171.75

172.35

172.75



Support levels:

169.25

168.55

168.15

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Weekly technical levels of EUR/USD for September 8-12, 2014 Market Analysis Review

Weekly technical levels of EUR/USD pair.

Trading recommendations :

• The EUR/USD pair is in the short term.


• The price of the EUR/USD pair is going to keep the bearish sentiment from the level of 1.3009. In addition, it should be noted that the level of 1.3009 represents the weekly pivot point. Accordingly, it will be a good sign to sell below it at 1.3009 with the first target of 1.2919 to test a double bottom at this area. Then, if the price breaks the double bottom, it will call for a downtrend market in order to continue its bearish movement towards 1.2860 (the weekly support 1). Equally important, the resistance would set at the 1.3100 level. Besides, it should be noted that the range today will be about 60 pips, but we expect a large range this week that will be probably up to 200 pips. However, the stop loss should be placed above the the weekly pivot point at the price of 1.3049, so the stop loss should be set in 40 pips since the risk of 40 pips could make profit of 60 pips.

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Gold analysis for September 08, 2014 Market Analysis Review

Overview:

Since our last analysis, gold has been trading upwards. The price tested the level of 1,273.42. The price rejected from our Fibonacci expansion 100% at the level of 1,258.00, and that is reason why we saw bullish movement. If the price breaks the level of 1,251.00 in a high volume, we may see more downward movement and potential testing the level of 1,218.00 (Fibonacci expansion 161.8%). I have placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 38.2% at the price of 1,272.00 (currently on the test) and Fibonacci retracement 61.8% at the price of 1,281.00. According to the 4H time frame, we can observe weak demand in the background, which is a sign that buying look risky.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,270.03

R2: 1,270.83

R3: 1,272.13

Support levels:

S1: 1,267.43

S2: 1,266.66

S3: 1,265.33

Trading recommendations: Buying at this stage looks risky since our Fibonacci retracement 38.2% is on the test.

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Hedge funds end bullish bets on gas Prime News

Declining volatility and prices have driven hedge funds to exit from natural gas markets in the US behind an influx of supply.

According to data from the US Commodity Futures Trading Commission, net long positions for four benchmarks were cut by 11% during the week that ended on September 2nd. Bullish bets have steadily fallen for the past six straight months while investors taking up short positions increased to the highest in nine months.

As a sign that producers are becoming less concerned about price volatility, holdings in gas have been reduced by 25% from a record amount set in April 2013. With stockpiles and output surging at a rapid pace, the range of price swings for the period are now at the narrowest since 2009.

Prices for natural gas dropped by 0.5%, or 2.1 cents, to a price per million British thermal units of $3.89 on the New York Mercantile Exchange. Futures today were mostly unchanged after declining by 0.7% last week as part of their 10% fall this year so far.

Energy Analyst Tim Evans from New York’s Citi Futures says that, “There’s just a level of comfort in the marketplace that supply is growing. Consumers may not see a compelling reason to have a larger hedge position than a year ago; producers are not thrilled or motivated.”

Inventories of gas have risen by 1.887 trillion cubic feet ever since reaching its lowest in 11 years in March to bring the total by the end of August to 2.709 trillion. Production of gas in the US is heading towards a fourth consecutive annual record with new shale deposits allowing more wells to be operational. The Energy Information Administration says that the average daily output from the Northeast’s Marcellus field for September will be 31% higher than the previous year at 15.9 billion cubic feet.

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Dubai, Qatar stocks fall ahead of Emaar Malls share sale Prime News

Dubai stocks plunged in the trade with its benchmark index shedding he most in a month as investors increased funds ahead of next week’s Emaar Properties opening of subscriptions for the mall unit shares. Qatari stocks declined as well.

The Dubai Financial Market General Index shed 1.7% to 5,034.95, the biggest lost of the index in a month. Qatar’s QE Index also fell, losing 0.7% to 13,882.49.

In Dubai, Emaar paced the retreat, slippin by 1.3%, as it declined for a second consecutive day while the Dubai Islamic Bank plunged 2.4%, its biggest drop in more than a month. In Qatar, Industries Qatar dragged the QE Index as it shed 2.1%.

Head of institutional trade at Mena Corp. Financial Services, Hisham Khairy, commented to Bloomberg that the market is profit taking but not an extensive kind of profit taking, as some investors get ready for the Emaar Mall’s share sale. Khairy adds that the market was already selling prior to the subscription dates announcement.

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#USDX Technical analysis for September 8, 2014 Market Analysis Review

The Dollar index remains in a bullish trend and with no sign of a trend reversal. The next upside target will be near 84.50 and 84.90. The Dollar remains strong. The index has most probably finished the sideways consolidation after the big upward spike and a new move higher should be expected.

Support is found at 83.74. Breaking below that level could push the index back towards 83.35. Cloud support is found at 83 and 82.75. Resistance is at 84. In terms of Ichimoku cloud, the 4 hour chart remains fully bullish targeting higher.

The same holds for the daily chart in the Dollar index. Price is trending higher and bulls remain in full control. The next targets are 84.50 and 84.90. More upside is expected as long as price is above 82.60. The red trend line is critical support for the intermediate-term trend.

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Gold Technical analysis for September 8, 2014 Market Analysis Review

Gold price remains below resistance levels but still holds the $1,256 lows. The trend remains down with lower highs and lower lows. The short-term trend is neutral and sideways as there is a lot of uncertainty in this area.

Gold price remains below the Ichimoku cloud and below the trend line resistance at $1,275 and $1,280. If resistance is broken, we could see a push towards $1,300. Support is found at $1,256 low. Breaking below that level could push Gold price towards our 1st short-term target of $1,240. In cloud terms, the 4 hour chart remains bearish.

The daily chart of Gold price is also shown above. The Ichimoku cloud continues to give us bearish indications for the future price movement we should expect. Additionally, Gold price remains below the broken red trend line at $1,270. A move towards $1,240-$1,200 is expected as long as price is below $1,295.

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Corn continues best climb in 6 months due to frost Prime News

Corn continued to build on its biggest gain since March with concerns that output may be disrupted due to the buildup of frost in the planting regions of the US, the world’s largest producer.

Futures for the commodity with a delivery date in December climbed to a price per bushel of $3.5675 after gaining 0.2% to its value late morning Singapore time. Corn increased by 2.7% on September 5th last week on the Chicago Board of Trade to record the largest gain among most active contracts since March 4th.

MDA Weather Services warned that northern Minnesota and North Dakota are the places most at risk from the onset of frost that could occur on September 12th or 13th. The weather provider said that the extent of the frost’s range and how severe it will be is still highly uncertain.

Corn has fallen by 23% over the past year with farmers and market participants gearing up for a harvest which may be of record size according to the US Department of Agriculture (USDA). Government data says that the harvest could reach 14.032 billion bushels while analysts surveyed by Bloomberg News predict a larger output at 14.276 billion. The USDA is expected to release an updated supply and demand report on September 11th.

Analysts from Australia & New Zealand Banking Group Ltd including Paul Deane says that, “Cooler forecast weather in the U.S. Midwest has raised some concerns for ripening and drying time for the U.S. corn crop. Those short in the market may be taking profits.”

Wheat with a delivery date in December increased to a price per bushel of $5.385 after advancing by 0.6%. Soybeans in November went up 0.4% to $10.26.

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Forecast of EUR/USD for September 08, 2014 Market Analysis Review

The euro pushed to a 14-month low and is trading at 1.2940. On the down side, the pair has support between the 1.2804-1.277-1.27750 levels. For the rest of the month, the given levels are valid support. A break below, these levels lead to another fall up to 1.2432 and 1.2211 (200Dsma). In June 2010 and July 2012, 200Dsma in a monthly chart twice gave enough support. For the short term, with a break below 1.2750, we can expect 1.2211 levels. On the higher side, a close above 1.34 only the bullish view starts blinking in the charts on positional basis, until selling on every upmove.

Support is at 1.28, 1.277, and 1.25.

Resistance is at 1.30, 1.3220, and 1.34.

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Intraday trading recommendations on USD/CHF for September 08, 2014 Market Analysis Review

The pair held the 50Msma and started moving higher. The pair has a short-term support at 0.9175 (50Msma) and the 0.9135 level. On a closing basis, until the price stands above these levels, the pair favors buying on dips towards 0.94, 0.9456, and 0.95 in the short term. The monthly support existed at 0.8980 and weekly support existed at the 0.9158 and 0.9126 levels. When a break and close are below 0.9135, the pair will look for the nearest support at 0.90 and 0.8975. The pair has strong resistance at 0.94 (200Dema). When a weekly close is above 0.94, bulls may print 0.9456,0.9534, and 0.9624 levels.

Support is at 0.9158, 0.9126, and 0.90.

Resistance is at 0.94, 0.9456, and 0.9534.

Intraday cmp 0.9320.

The prices are closed above the key hourly moving averages, representing buy on dips. But the main concern is the h1 and h4 momentum oscillators are indicating an extreme overbought area. It represents limited upside move and sellers will mint the money. Safe traders can sell below 0.9286 with targets at 0.9250 and 0.9230. The panic button will trigger below 0.9230 towards 0.9175 and even lower.

Sellers will mint the money, so sell and wait patiently.

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Technical analysis of USD/JPY for September 08, 2014 Market Analysis Review

In Asia, Japan will release the Current Account, Final GDP q/q, Bank Lending y/y, Final GDP Price Index y/y, and Economy Watchers Sentiment. Moreover, the US will release some economic data such as Consumer Credit m/m. So, there is a big probability the USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 105.59.

Resistance. 2: 105.38.

Resistance. 1: 105.18.

Support. 1: 104.93.

Support. 2: 104.72.

Support. 3: 104.51.

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/USD for September 08, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Trade Balance and Sentix Investor Confidence. The US will release the economic data too such as the Consumer Credit m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.3013.

Strong Resistance:1.3006.

Original Resistance: 1.2993.

Inner Sell Area: 1.2980.

Target Inner Area: 1.2950.

Inner Buy Area: 1.2920.

Original Support: 1.2907.

Strong Support: 1.2894.

Breakout SELL Level: 1.2887. 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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Independence vote for Scotland could cost pound 10% in value Prime News

A vote in favor of Scotland’s independence could drive the British pound down by 10% to bring it back into levels last seen during the recession.

Market analysts claim that an accelerated decline for the pound is likely to happen should the yes vote start to gain more ground against the no vote in Scotland. The currency has already went through its largest drop in over a year last week with investors becoming nervous after preliminary polls showed a close battle between the two Scottish camps. During most of the month of July, the sterling was trading against the US dollar at levels above $1.70. Since that time, however, it has fallen near to $1.63 with another 10 cent fall incoming should the independence bloc move ahead.

Chief economist Howard Archer from consultancy firm IHS Global Insight predicts that, "Sterling will highly likely remain vulnerable now until the referendum on 18 September. Just how difficult the pound's coming week will be depends on what polls show over the coming days."

Apart from the narrowing vote gap, the potential resulting years after independence is also threatening the pound by leaving business communities uncertain as to what currency will be employed by Scotland and what the repercussions will be. Berenberg Bank’s chief UK economist, Rob Wood, says that while a deal could be made regarding the use of Scotland of Britain’s currency, the negotiations could prove to be costly and damaging for both sides. Wood cited the example of the possibility of financial institutions and other companies relocating their “headquarters and parts of their business south.”

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WTI approaches lowest in three weeks Prime News

West Texas Intermediate neared a three day low today following the release of data that detailed a lower than expected growth in the labor market of the US, the largest consumer of oil in the world.

Futures for the American crude benchmark with a delivery date in October was mostly unchanged late morning Sydney time with a price per barrel of $93.20, 11 cents below the previous close. It declined last week by 2.8%, or $1.16, to arrive at its lowest close since September 2 of $92.29. Trading volume was 33% less than the 100 day average. Prices for WTI have so far dropped this year by 5.3%.

A recent report from the US Labor Department showed that employers in the country created the least amount of jobs for 2014 at only 142,000 during the month of August to break a multi month streak of consecutive improvements of over 200,000 . In the previous month of July, 210,000 new jobs were created. The data fell far below the expectations of analysts surveyed through a Bloomberg News survey which had a median prediction of a 230,000 improvement.

In China, the second largest oil user, the growth of exports is projected to fall from July’s 14.5% to around 9%, according to economists polled by Bloomberg News. Official statistics from the country’s government is expected to be released today.

Chief strategist Ric Spoone from Sydney’s CMC Markets says that, “We have now seen two months of more moderate jobs growth. It possibly changes the attitudes toward what’s been going on in the U.S. economy. The Chinese data will be an area of focus, particularly given the signs of ongoing weakness we’ve seen in the property market.”

Brent, the European benchmark, with a delivery date in October fell to a price per barrel of $100.52 after losing 29 cents from its value. It held a premium over WTI of $7.32 after closing last week at $7.53 in London’s ICE Futures Europe exchange.

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Weekly forecast and an intraday analysis of USD/CAD for September 08-12, 2014 Market Analysis Review

The pair gets rejected at a level higher 1.1, these levels represent a broadening top. The pair successfully held the support at 50Wsma and managed to close above 20Wsma. For the short term basis, the pair has strong support at 1.08482 and 1.0815. A weekly close is below 1.0815 only, the pair favors bears. On the higher side, it has strong resistance around 1.1 above this at the 1.1026 1.1050, and 1.1070 levels. On a weekly basis, the price are closed and is trading below the 20Dsma, representing a limited up move this week. When a daily close is above 1.0910, bulls gain more strength to hit the 10942, 1.0956 and 1.0965 levels. On the down side, the pair has support at the 1.0856, 1.0811 and 1.08 levels. When a daily close is below 1.0832, bears will grab the chance to make a lower move to the 1.08 and 1.0770 levels.

Support is at 1.0856, 1.0811, and 1.08.

Resistance is at 1.0910, 1.0942, and 1.0965.

Intraday cmp 1.0888.

The prices are facing strong resistance at 21hrsma or 1.0892. Until it is taken out, bears will have an upper hand. On the down side, it has support at 1.0880 and 1.0873; free fall will trigger below this towards the 1.0856 and 1.0820 levels. On an intraday basis, sellers will mint the money.

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Weekly forecast and an intraday trading recommendations on Gold for September 08-12, 2014 Market Analysis Review

The soft US data pushed the metal from a 3-month low. The metal pushed out from the triangle and closed below the bottom of the triangle on the previous week. On a weekly basis, the metal has strong resistance at $1,289 (50Wsma) and $1,293.35 (20Wsma). Until the metal closes above $1,289, selling on rallies mints the money. The metal has strong resistance at $1,285.60, $1,289 and $1,293.35 for the week September 08-12, 2014. Bulls must take the pair into the triangle again, if no bears play will hit the metal towards $1,250 and $1,240 in the near term. This view is valid for the rest of the month.

If a daily close is above $1,285.60, the daily trend turns to a buy side. - pending

If a weekly close is above $1,289, the weekly trend turns to positive. - pending

Support is at $1,258, $1,250, and $1,240.

Resistance is at $1,285.60, $1,289, and $1,293.35.

Intraday cmp $1,269.90

The metal is trading at $1,269.90 in an early Pacific session. The metal has strong resistance in the descending hourly trend line above the $1,273 level. On the down side, it has support at $1,266 and $1,264. We recommend selling only below $1,264 for hourly targets at $1,262, $1,260 and $1,258. A strong buy will emerge above $1,273.50 for an upside target at the $1,276.90 and $1,280-$1,281 levels.

Buy above $1,273.50.

Sell below $1,264. Hourly panic below $1,262 towards $1,258.

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Australian dollar climbs on weak US jobs data Prime News

The Australian dollar accelerated after in the light of weak US employment figures.

On Monday, the Aussie traded at 93.66 US cents, up from Friday’s 93.51 US cents.

According to the Labor Department, only 142,000 jobs were added in August, cutting a six-month streak of hiring above 200,000, the smallest increase in eight months.

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