Technical analysis of EUR/USD for September 18, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German PPI m/m, Current Account. The US will release the economic data too such as the CB Leading Index m/m, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.3021.

Strong Resistance:1.3014.

Original Resistance: 1.3001.

Inner Sell Area: 1.2988.

Target Inner Area: 1.2958.

Inner Buy Area: 1.2928.

Original Support: 1.2915.

Strong Support: 1.2902.

Breakout SELL Level: 1.2895.

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 USD/JPY for September 18, 2014 Market Analysis Review

In Asia, Japan will release the All Industries Activity m/m, and the US will release some economic data such as CB Leading Index m/m. So there is a big probability the USD/JPY will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 109.05.

Resistance. 2: 108.84.

Resistance. 1: 108.63.

Support. 1: 108.36.

Support. 2: 108.15.

Support. 3: 107.94 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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Intraday trading recommendations for GBP/USD for September 18, 2014 Market Analysis Review

Today traders focus on the Scottish referendum, effecting demand pressure on the Pound. GBP/USD has been facing strong resistance at the descending trend line. In the daily charts, the pair was rejected at 20Dsma during previous days and closed below 1.6280 representing undertone of bearishness. The cable has support at 1.6230, below this, 1.62, 1.6180 and 1.6160 levels. We can see another fall below 1.6160 for a downside target at 1.6052 and 1.60. A weekly close below 1.60 underpins the pair to fall another 200-300 pips in the ST. For the near term, a daily close above 1.6385 favors selling on an up move.

Resistance 1.6385 1.6440 1.6585

Support 1.62 1.6050 1.60

A weekly close below 1.60 ST - noise in the charts for 1.5850 and 1.57- Pending

A daily close above 1.64 - Some strength will regain for the near term.

For an intraday session, the cable is trading above 12ema and 35DEMA levels. The pair has support at 1.6240 and resistance, at 1.6280. A breakout either side will give room for intraday trading. On the down side, if it hits 1.6240 it can fall to 1.62 and 1.6160 levels. On the upper side, above 1.6280 it can fly up to 1.6312, 1.6358 and 1.6380.

Sell below 1.6240

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Daily analysis of USDX for September 18, 2014 Market Analysis Review

Daily chart: The USDX has made a successful breakout at the resistance level of 89.29, after it formed a higher high pattern. Now, it is very likely that the USDX will rise to the level of 85.18 in the medium term. However, the USDX could begin to perform corrective movements in this chart. The MACD indicator is in overbought zone.

H4 chart: The USDX has consolidated its position above the level of 84.52 and now, the USDX is trying to climb up to the resistance level of 85.06. If the USDX manages to make a breakout at that level, it would be expected to rise to the level of 85.85, where a bullish trend line is located. The MACD indicator is in positive territory.

H1 chart: The USDX has had a bullish momentum above the 200-day moving average, so now, the USDX is forming a higher high pattern above the support level of 84.60. If the USDX manages to make a breakout at the resistance level of 84.81, it is expected to that rise to the level of 85.05. The MACD indicator is entering overbought area.

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 84.81, take profit is at 85.05, and stop loss is at 84.60.

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Daily analysis of GBP/USD for September 18, 2014 Market Analysis Review

Daily chart: The pair tried to make a breakout at the resistance level of 1.6326, but the GBP/USD encountered strong resistance at that level. Now, the GBP/USD is trying to perform a correcitve movement to the 200-day moving average on this chart. In addition, this pair has formed a fractal near the support level of 1.6146. The MACD indicator is in positive territory.

H4 chart: The GBP/USD encountered strong resistance at the level of 1.6350 and now, this pair is trying to make a breakout at the support level of 1.6247. If the GBPUSD consolidates below that level, it would be expected to fall to the support level of 1.6051, which would be a bearish consolidation. The MACD indicator is in positive territory.

H1 chart: The GBPUSD has encountered resistance at the level of 1.6338, where this pair has formed a fractal. Now, the GBP/USD is trying to form a lower low pattern below the moving average of 200. If the GBP/USD manages to make a breakout at the support level of 1.6252, it's expected to fall to the level of 1.6216. The MACD indicator remains 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 1.6252, take profit is at 1.6216, and stop loss is at 1.6289.

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Technical analysis of Gold for September 18, 2014 Market Analysis Review

Technical outlook and chart setups:

Gold printed yet another low at $1,215.00 levels yesterday before pulling back towards $1,220.00 levels at close. Currently trading around $1,223.00 levels, the metal remains vulnerable to bears but surely the bottom is near. The metal could either bounce off current levels or after a final push below $1,185.00 levels, where a long term support trend line seems to be passing through (not seen here). It is recommended to await for further signal confirmation before entering long positions here. Aggressive traders could start building up small quantity long positions at current levels, leaving room till $1,180.00 levels on the lower side. Support is at $1,180.00/82.00 while resistance is seen at $1,240.00/42.00 immediately.

Trading recommendations:

Remain flat for now. Looking to go long.

Good luck!

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Intraday trading recommendations for Gold for September 18, 2014 Market Analysis Review

The metal drifted to $1,217 in Asia's session. On the down side, it has support at $1,215 and $1,210. Below $1,210, another steep fall will trigger towards $1,200 and $1,185 levels. The hourly and daily momentum oscillators are indicating an extreme oversold position. We expect some pullback will be on the screen for an hourly and intraday basis. The metal has strong resistance at $1,242 and $1,259.50 levels. For the NT, until the metal closes below $1,259.50, sell on an up move. The bulls will regain the strength only above $1,260 on a closing basis.

Support $1,215 $1,185 $1,150

Resistance $1,242 $1,260 $1,285

For an intraday session, the metal is trading at $1,217. The prices are trading below the 12EMA and 35DEMA. The metal is facing strong resistance between $1,225-$1,227 (35DEMA), above these, $1,236 will act as a strong hurdle during an intraday session. Until the h4 candle closes above $1,236, sell on an up move.

Fresh selling is only below $1,215, buy above $1,227 for targets at $1,233, $1,236 and $1,240.

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USDCAD Daily Analysis - September 18, 2014 Forex Analysis

After touching 1.0933 support, USDCAD rebounded from 1.0926, indicating that the pair remains in uptrend from 1.0810, and the fall from 1.1098 could be treated as correction of the uptrend. Further rise to test 1.1098 would likely be seen, a break above this level will signal resumption of the uptrend, then next target would be at 1.1200 area.

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USDCHF Daily Analysis - September 18, 2014 Forex Analysis

USDCHF's upward movement from 0.8997 extended to as high as 0.9432. Further rise could be expected, and next target would be at 0.9600 area. Near term support is at the upward trend line on 4-hour chart, and the key support is at 0.9300, only break below this level could signal completion of the uptrend.

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USDJPY Daily Analysis - September 18, 2014 Forex Analysis

After consolidation, USDJPY continued its upward movement from 101.50, and the rise extended to as high as 108.67. Further rise could be expected after a minor consolidation, and next target would be at 110.00 area. Near term support is located at the upward trend line on 4-hour chart, and the key support is at 106.82, only break below this level could signal completion of the uptrend.

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AUDUSD Daily Analysis - September 18, 2014 Forex Analysis

AUDUSD continued its downward movement from 0.9401 and the fall extended to as low as 0.8938. Further decline could be expected and next target would be at 0.8700 area. Near term resistance is at the downward trend line on 4-hour chart, and the key resistance is at 0.9112, only break above this level could signal completion of the downtrend.

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GBPUSD Daily Analysis - September 18, 2014 Forex Analysis

GBPUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the rise from 1.6051 could be treated as consolidation of the downtrend from 1.7190 (Jul 15 high), another fall towards 1.5800 could be expected after consolidation. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.6051 already, then the following upward movement could bring price to .16700 area.

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EURUSD Daily Analysis - September 18, 2014 Forex Analysis

After consolidation, EURUSD broke below 1.2859 support and continued its downward movement from 1.3411, and the fall extended to as low as 1.2834. Further decline could be expected, and next target would be at 1.2600 area. Resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

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Technical analysis of USD/CHF for Sep 17, 2014 Market Analysis Review

Fundamental Overview:

USD/CHF is expected to consolidate with a bullish bias before FOMC decision. It is weighed by the broadly softer USD undertone; franc demand on buoyant CHF/JPY cross and on soft EUR/CHF cross. But USD/CHF losses tempered by dovish Swiss National Bank's monetary policy.It is dented by broadly weaker USD undertone (ICE spot dollar index last 84.09 versus 84.25 early Tuesday and jitters about the Scottish independence vote on Thursday. Markets await 1800 GMT Federal Reserve's interest rate decision and participants are watching out for subtle adjustments in the way the Fed describes its outlook on policy that could signal earlier hikes to the Fed's key policy rate than the widely-expected mid-2015.

Technical Comments:
The daily chart is mixed as MACD is bullish, but stochastics is bearish at the overbought 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 0.9375 and the second target at 0.94. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9310. A break of this target would push the pair further downwards and one may expect the second target at 0.9290. The pivot point is at 0.9325.

Resistance levels:

0.9375

0.94

0.9430



Support levels:

0.9310

0.9290

0.9250

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Technical analysis of NZD/USD for Sep 17, 2014 Market Analysis Review

Fundamental Overview:

NZD/USD is expected to consolidate with a bullish bias before FOMC decision. Market participants are watching out for subtle adjustments in the way the Fed describes its outlook on policy that could signal earlier hikes to the Fed's key policy rate than the widely-expected mid-2015. It is supported by the broadly softer USD undertone, the positive investor risk sentiment and Fonterra's GDT Price Index unchanged at latest Global DairyTrade auction held overnight. But the NZD sentiment are dented by the wider-than-expected New Zealand 2Q current account deficit of NZD1.1 billion (versus forecast NZD0.95 billion).

Technical Comment:
The daily chart is mixed as MACD is bearish, 5 and 15-day moving averages are falling, but stochastics is turned bullish at the oversold zone, bullish parabolic stop-and-reverse signal hit on Tuesday.

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 0.8230 and the second target at 0.8265. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8120. A break of this target would push the pair further downwards and one may expect the second target at 0.8075. The pivot point is at 0.8140.

Resistance levels:

0.8230

0.8265

0.8305

Support levels:

0.8120

0.8175

0.8135

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Technical analysis of GBP/JPY for Sep 17, 2014 Market Analysis Review

Fundamental Overview:

GBP/JPY is expected to consolidate with a bullish bias before FOMC decision. It is supported by the positive investor risk sentiment and demand from Japanese importers. But GBP/JPY gains are tempered by Japanese export sales But GBP sentiment is also dented by the lower-than-expected U.K. August CPI of +1.5% on-year (versus forecast +1.6%). GBP/USD gains are also tempered by the uncertainty over the Scottish independence referendum on Thursday.

Technical Comment:
The daily chart is mixed as MACD is bullish, five-day moving average is above 15-day MA and is advancing, but stochastics is turned bearish at the overbought zone; inside-day-range pattern was completed on Tuesday.

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 175.90 and the second target at 176.40. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 173.75. A break of this target would push the pair further downwards and one may expect the second target at 172.95. The pivot point is at 174.45.

Resistance levels:

175.90

176.40

176.95

Support levels:

173.75

172.95

172.60

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EUR/NZD analysis for September 17, 2014 Market Analysis Review

Overview:

Since our last analysis, EUR/NZD has been trading sideways around the price of 1.5850. As we expected, the price rejection took place from the level of 1.5800 (swing high like support) . I have placed Fibonacci expansion to find potential resistance levels. I got Fibonacci expansion 61.8% around the price of 1.5830 (already broken) and Fibonacci expansion 100% at the price of 1.6010. If the price breaks the level of 1.5900 (swing high like resistance), we may see potential testing the level of 1.6000 (Fibonacci expansion 100%). According to the 1H time frame, we can observe Fibonacci retracement 38.2% from the most recenet upward leg at the price of 1.5847 (successful tested). Be careful when selling and watch for potential buying opportunities.

Daily Fibonacci pivot levels :

Resistance levels:

R1: 1.5867

R2: 1.5895

R3: 1.5940

Support levels:

S1: 1.5777

S2: 1.5749

S3: 1.5704

Trading recommendations: Be careful when selling the EUR/NZD pair since we may see further upward movement.

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Gold analysis for September 17, 2014 Market Analysis Review

Overview:

Since our last analysis, gold has been trading sideways around the price of 1.236.00. We are facing a very quiet market today, so we are waiting for larger activity and volume on the market. I have placed Fibonacci expansion levels. I got Fibonacci expansion 61.8% at the price of 1,240.00 (currently on the test), Fibonacci expansion 100% at the price of 1,244.00 and Fibonacci expansion 161.8% at the price of 1,252.00. Our major Fibonacci expansion 100% is broken, so we may see potential testing the level of 1,218.00 (Fibonacci expansion 161.8%, almost tested). According to the 4H time frame, we can observe very weak demand in a volume below average, which is a sign that buying still looks risky. Watch for potential selling opportuntiies after retracement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,241.57

R2: 1,244.17

R3: 1,248.37

Support levels:

S1: 1,233.37

S2: 1,230.57

S3: 1,226.37

Trading recommendations: Buying looks risky since the price has broke our Fibonacci expansion 100%.

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Elliott wave analysis of EUR/NZD for September 17 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 1.5943

R2: 1.5893

R1: 1.5878

Current spot: 1.5849

S1: 1.5824

S2: 1.5796

S3: 1.5773

Technical summary:

We are testing of 1.5773 the correction towards 1.5766 we where looking for is over. We will now be looking for a rally above minor resistance at 1.5893 confirming the next impulsive rally higher towards 1.6203 and more likely even to 1.6450. Ideally, we will see minor support at 1.5843 will protect the downside, but only a break below 1.5773 will delay the expected upside pressure, for a slightly more complex correction.

Trade recommendation:

We are long in EUR from 1.5550 with stop at 1.5750. If you are not long in EUR yet, the buy EUR near 1.5773 or upon a break above 1.5893 with the same stop at 1.5750

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Elliott wave analysis of EUR/JPY for September 17 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 139.46

R2: 139.29

R1: 139.17

Current spot: 139.07

S1: 138.94

S2: 138.76

S3: 138.46

Technical summary:

We think that red wave ii still is unfolding. We would like to see resistance at 139.17 protecting the upside for a final decline to 138.46 and maybe even slightly below, but this is not a correction to be trended (correction of this degree never is). So, we have nothing to do than to wait for a level where to buy EUR for the next impulsive rally higher to 143.79. In the short term, a break below minor support at 138.94 will be the first indication, that the final leg in this correction is developing for the decline to 138.46 before higher again.

Trade recommendation:

We are long in EUR from 135.95 with stop placed at 137.50. If you are not long in EUR yet, then buy near 138.46 with the same stop at 137.50.

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Technical analysis of USD/CAD for September 17, 2014 Market Analysis Review

General overview for 17/09/2014 11:20 CET

The alternative count has been invalidated due to wave 1 and wave 4 red overlaps and now the main count is in play. The pair has fallen out of the golden channel and now the main important question is whether the current wave progression is still a part of an impulsive wave 3 green to the upside (main count) or if the current wave progression is a part of a more complex and time-consuming corrective cycle in green wave 2 labeled as an alternative count. It seems there are two key levels on the chart, that might help to give more clues for a further wave development. To follow the main count, the market must now develop an impulsive five wave rally to the upside, that will clearly break the key level at the technical resistance at the level of 1.1027. However, if the level of 1.0931 is broken first, the chances are high, that market is following the alternative count of an unfinished irregular flat correction, labeled as alt:A and alt.B green.



Support/Resistance:

1.1097 - Swing Top

1.1037 - Weekly Pivot

1.1027 - Technical Resistance|Key Level|

1.0978 - WS1

1.0963 - Intraday Resistance

1.0931 - Intraday Support|Key Level|

Trading recommendations:

As long as the demand zone is not broken, the mid-term bias is still bullish so buying the dips in this pair is advised. For day traders the SL level would be below the level of 1.0930 and TP level is currently open.

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GBP/USD intraday technical levels and trading recommendations for September 17, 2014 Market Analysis Review

In July 15, extensive bearish impulse was initiated. Since then, the GBP/USD pair has been downtrending limited by the depicted pattern.

Two successive bearish impulses were initiated around 1.7180 and 1.6630 corresponding to the upper limit of the depicted channel.

Price level of 1.6140 constitutes a prominent weekly support to meet the pair. Temporary breakdown took place last week as depicted on the chart. However, bullish rejection was witnessed in the recent daily candlesticks ( note the bullish engulfing daily candlestick which emerged on Thursday). This led to a bullish weekly closure ( above the weekly support level around 1.6250 ).

We expect the GBP/USD pair to retrace towards the price zone of 1.6330-1.6400 where a new bearish impulse is expected to be applied offering a valid low-risk sell entry. Stop loss should be set as daily closure above 1.6410.

This price zone corresponds to the upper limit of the depicted bearish channel as well as prominent Fibonacci level of the recent bearish impulse between 1.7180 and 1.6060.

Today's daily closure should be considered. A bullish candlestick will probably allow the bulls to retest 1.6330-1.6400 again before further decline can take place.

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Technical analysis of EUR/JPY for September 17, 2014 Market Analysis Review

General overview for 17/09/2014 11:10 CET

The corrective cycle in shape of an abc irregular flat is looking completed and a downtrend should resume soon now. Please notice, that any breakout higher above the level of 139.17 will invalidate the green bearish count and will make another high in black wave B possible. On the other hand, the downside will be confirmed if the grey area labeled as a supply breakthrough zone will be clearly violated. Otherwise the corrective cycle might get more complex and time-consuming.

Support/Resistance:

139.16 - 139.25 - Technical Resistance Zone |Intraday Resistance|Key Level|

138.77 - Intraday Support

138.42 - Intraday Support

138.30 - Weekly Pivot

138.25 - Technical Support

137.48 - WS1

Trading recommendations:

Swing traders that are still keeping buy orders from last week should get ready to close the positions and wait for a further wave progression as the trend looks mature and reversal/correction is possible. Breakout below the level of 138.25 is the first strong confirmation that the top for wave B black is in place at the level of 139.16.

Day traders that went short recently should place the SL order above the level of 139.17 with TP open for now. New high invalidates this idea.

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Technical analysis of EUR/USD for September 17, 2014 Market Analysis Review

Overview :

• Due to the previous events, the price is still between the levels of 1.3009 and 1.2933, so it is recommended to be careful while making deals in this area. Also, It should be noted that the market showed the signs of instability because the trend movement was controversial as it took place in the narrow sideways channel. So, the market was in an uptrend for a short term. Moreover, it might be noticed that the price of EUR/USD pair has been rebounding higher towards the level of 1.2973. Also, note that we expect a range of 70 pips today and the level of 1.2933 will act as a key level to confirm the bullish market. Therefore, buy above the level of 1.2933 (1.2929: 23.6% of Fibonacci retracement levels), with the first target of 1.2983, it might resume to the 1.3009 price in order to form a double top in H1 chart. Conversely, the price may close below 1.3009 (50% of Fibonacci retracement levels) in H1 chart. Consequently, the price will call for a bearish market to go further towards the level of 1.3009. However, it should be always noted that the stop loss should never exceed your maximum exposure amounts.

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Intraday analysis of EUR/USD for September 17, 2014 Market Analysis Review

The pair has been making lower lows for trading 6 sessions. The pair is facing strong resistance at 1.30 and 1.3060 (20Dsma). Until the price closes below 1.3060, sell on an upmove will be preferable in the near term. Fresh selling will trigger below 1.2924 towards 1.2909 and on positional basis 1.2765 is the medium-term strong support and an open target with 1.3060 on a closing basis. On the other side, if the pair manages to close above 1.3060, it can fly up to 1.3160 and 1.32 but chances are very remote.

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Intraday trading recommendations on USD/CAD for September 17, 2014 Market Analysis Review

The pair made a double top at 1.11 (rounded) in the weekly chart, the pair has support between 1.1030-1.1026, below these it has support at 1.1 and 1.0950 50.0 fib level. For the short term, it has support at the 1.0858 and 1.0832 levels. In the near term, the pair has support at 1.0944, so bulls need to worry only about closing below this. We recommend fresh buying above 1.11 for an upside target at the 1.1150,1.20 and 1.1225 levels. The pair has a long list of supports to save bulls.

Support 1.1026 1.0950 1.0834

Resistance 1.11 1.1150 1.1225

For an intraday basis, the pair is trading at 1.972 level at an Asian session. The pair has support at 1.0967 levels. The price closed far below 35DEMA and 12ema and represents some weakness on hourly basis. We recommend fresh selling only below 1.0965 for a downside target 1.0956, 1.0934, and 1.0920. Safe traders can sell below 1.0967. Until the pair trades below 1.1045, selling on the rise will mint the money.

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