Forecast of USD/CAD for September 19, 2014 Market Analysis Review

The pair has been trading in a corrective mood with holding the uptrend. The pair made a double top at 1.11 making some base around 1.0930-1.0927 levels. It means, the seller will be benefited only below 1.0925 only. The pair has strong supports below 1.0925 at 1.0914 and 1.0838 in the near and short term basis. We will see fresh buying will add above 1.11 towards 1.1135, 1.1150 and 1.12 levels.

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Intraday trading recommendations for Gold for September 19, 2014 Market Analysis Review

The metal was unable to breach the resistance at $1,242, again moving to lower levels to its near-term targets at $1,210, $1,200, $1,190, $1,185 and even $1,150 levels. We have been recommending selling on every up move from $1,276 levels. The metal has strong resistance at 20Dsma $1,256.60; until it closes below this, selling on an up move will mint the money. In a monthly timeframe, the metal was rejected twice at 20Dsma.

For an intraday veiw, the metal is trading at $1,223.50 levels. The prices are below 12ema and 34hrsma, representing further bullishness. The metal has last support at $1,223, below this, weakness is expected again towards $1,218 and $1,215.50, below these, $1,210 and $1,200 levels. The metal has resistance at $1,226, $1,229 and $1,232.

Fresh safe buying only above $1,232.

Safe selling only below $1,215.

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Technical analysis of EUR/USD for September 19, 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: 1.2982.

Strong Resistance:1.2975.

Original Resistance: 1.2962.

Inner Sell Area: 1.2949.

Target Inner Area: 1.2919.

Inner Buy Area: 1.2889.

Original Support: 1.2876.

Strong Support: 1.2863.

Breakout SELL Level: 1.2856.

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 19, 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: 109.67.

Resistance. 2: 109.45.

Resistance. 1: 109.24.

Support. 1: 108.98.

Support. 2: 108.77.

Support. 3: 108.55

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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Daily analysis of USDX for September 19, 2014 Market Analysis Review

Daily chart: The USDX has made a pullback near the level of 84.80, so this instrument could strengthen above the support level of 84.29 at the end of this week. Now, if the USDX does a pullback at current levels, it's expected to fall to the level of 83.74. The MACD indicator remains in negative territory.

H4 chart: The USDX is trying to consolidate below the bearish trend line at the level of 84.47. Now, the next objective for the USDX would be the 84.00 level. If the USDX does a breakout at that level, it would be expected to fall to the level of 83.05, where the 200-day moving average is. The MACD indicator is entering negative territory.

H1 chart: The USDX has found strong resistance at the level of 84.81, so the USDX is trying to form a lower low pattern below the resistance level of 84.37. If the USDX manages to make a breakout at the support level of 84.18, the next target would be the level of 84.03 in the short term. The MACD indicator is entering oversold zone.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 84.18, take profit is at 84.03, and stop loss is at 84.33.

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Daily analysis of GBP/USD for September 19, 2014 Market Analysis Review

Daily chart: The GBP/USD is waiting for the results of the referendum for the independence of Scotland, which possibly will be published during the European session today. This pair has made a breakout at the resistance level of 1.6447 and has filled in the bearish gap, so the next goal would be the level of 1.6540. The MACD indicator stays in positive territory.

H4 chart: This pair is trying to touch the 200-day moving average in this chart, so far, the GBP/USD could begin to form a bullish pattern. If the GBP/USD manages to make a breakout at the resistance level of 1.6553, it's expected to that rise to the level of 1.6643 in the medium term. The MACD indicator stays in positive territory.

H1 chart: The GBP/USD is forming a higher high pattern above the support level of 1.6464, after that this pair has had a bullish momentum above the strong support at the 1.6375 level on this chart. If the GBP/USD manages to make a breakout at the resistance level of 1.6507, the next goal would be the level of 1.6544. The MACD indicator stays in positive territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance is at 1.6507, take profit is at 1.6544, and stop loss is at 1.6470.

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Technical analysis of GBP/JPY for September 19, 2014 Market Analysis Review

The pair gave an upside breakout at 9-month resistance. Even though it breached in August unable to be sustained there, but this time it gave a potential breakout aiming for 183.50 and 185.60 levels. This view is valid with sl 174.75 on a closing basis. The pair breached the 200Msma holding above that. If the pair manages to close above 177.60 on a monthly closing basis, further bullishness will preform in the coming days and weeks. Below 17760, it has support at 175.355 and 174.75.

For an intraday view, the prices are trading above 12ema and 35DEMA, representing further bullishness. The hourly moentum indicators are at extreme overbought zone at 90 levels. The hourly support levels are at 178.80, 178 and 177.40. Use a dip to buy. Until prices close below the neckline, use a dip to buy.

At the current market price fresh buying will not be advisable, use a dip to buy.

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Intraday trading recommendations for GBP/USD for September 19, 2014 Market Analysis Review

The Pound has given a stellar performance in yesterday's trade closing above 20Dsma. In todays session, the cable held the 20Dsma support and again moved higher, breached the 2-month descending trend line. The pair formed a triangle, and just breached the upper end of that, a daily close above the upper end of the triangle makes further bullish movement in the near term. Today, as of now, the cable made a high at 1.6460 and trading at 1.6422. The pair has resistance between 1.6586-1.6590 levels. A weekly close above these, makes it more bullish in the short term. On the down side, it has support at 1.6380.

Support 1.6380 1.6245 1.6160

Resistance 1.6440 1.6590 1.6625

For an intraday view, the prices are trading above 12ema and 35DEMA, representing further bullishness. As we recommended in yesterdays articles, our upside target at 1.6380 was completed above 1.6280. The cable flew 200 pips from the buying level. The hourly and intraday support is at 1.6390, 1.6347 and 1.6325.

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USDCAD Daily Analysis - September 19, 2014 Forex Analysis

USDCAD remains in uptrend from 1.0810, the fall from 1.1098 could be treated as correction of the uptrend. Another rise to 1.1200 area could be expected. Support is at 1.0926, only break below this level will indicate that the uptrend had completed at 1.1098 already, then deeper decline to 1.0860 area could be seen.

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USDCHF Daily Analysis - September 19, 2014 Forex Analysis

USDCHF stays above the upward trend line on 4-hour chart, and remains in uptrend from 0.8997, the fall from 0.9432 could be treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and another rise to 0.9600 area is still possible. 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 19, 2014 Forex Analysis

USDJPY's upward movement from 101.50 extended to as high as 109.45. Further rise could be expected after a minor consolidation and next target would be at 110.00 area. Support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

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AUDUSD Daily Analysis - September 19, 2014 Forex Analysis

AUDUSD stays below the downward trend line on 4-hour chart and remains in downtrend from 0.9401, the rise from 0.8927 is likely consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8700 area. 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 19, 2014 Forex Analysis

GBPUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.7190 (Jul 15 high) had completed at 1.6051 already. Further rise could be expected in a couple of days, and next target would be at 1.6700 area. Support levels are at 1.6410 and 1.6320, only break below these levels could trigger another fall towards 1.5800.

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EURUSD Daily Analysis - September 19, 2014 Forex Analysis

EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.3411, the rise from 1.2834 could be treated as consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to resume, and another fall to 1.2600 area is still possible. Key resistance is at 1.2994, only break above this level will indicate that the downtrend had completed at 1.2834 already, then the following upward movement could bring price back to 1.3100 area.

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GBP/USD intraday technical levels and trading recommendations for September 18, 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. 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 ).

Retracement towards the price zone of 1.6350-1.6400 took place as expected 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 channels as well as prominent Fibonacci level of the recent bearish impulse between 1.7180 and 1.6060.

This probably offers a valid SELL opportunity as long as the bears keep defending price level of 1.6400.

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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. 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 ).

Retracement towards the price zone of 1.6350-1.6400 took place as expected 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 channels as well as prominent Fibonacci level of the recent bearish impulse between 1.7180 and 1.6060.

This probably offers a valid SELL opportunity as long as the bears keep defending price level of 1.6400.

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

Overview :

• The AUD/USD pair had fallen from the level of 0.9111, and it was extended further to as low as 0.9015 this week. So, new resistances have placed at the levels of 0.9111 and 0.9015. Furthermore, the price had been below 38.2% of Fibonacci retracement levels in the daily chart. Additionally, it should be noted that the price had formed a strong resistance at the 0.9015 level. Moreover, this strong level has still been trapped between 38.2% of Fibonacci retracement levels and 23.6% in the daily chart. As it is known, history usually repeats itself at certain level. Consequently, it will be reasonable to use historic rates to determine future prices, hence it is probably that the market will show the bearish signs again in order to indicate a bearish opportunity at the level of 0.9015 with targets towards the strongest support around the 0.8933 level. Equally important, the market will form a range between two important levels 0.8990 and 0.8933, thus the range will be around 57 pips today.

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

Overview :

• As expected, the USD/CAD pair rebounded at the level of 1.0886 and it showed signs of strength following the level of 1.0886. In H1 chart, the pair has already formed a strong support at the level of 1.0886 which coincides with the ratio of 23.6% Fibonacci retracement levels. Additionally, the resistance has broken and turned to support at the same key level (1.0886) and the price set above the support since 8th of September 2014. Equally important, look forward to that the USD/CAD pair will be trapped between 1.0926 and 1.1010. For that reason, the USD/CAD pair started showing the signs of bullish market, so the market indicates the bullish opportunity at the level of 1.0886 with the first target of 1.1000, and continues towards the level of 1.1040 again (1.1038 is representing the ratio of 78.6% Fibonacci retracement levels). Otherwise, the stop loss should always be in account, hence it will wise to set your stop loss at the 1.0810 price. Also, it should be noted that the double bottom had already be placed at the point of 1.0820.

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Elliott wave analysis of EUR/NZD for September 18 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 1.5949

R2: 1.5922

R1: 1.5896

Current spot: 1.5880

S1: 1.5865

S2: 1.5844

S3: 1.5818

Technical summary:

We are still looking for confirmation, that the underlying uptrend has been resumed for a rally towards 1.6203 and the way higher to 1.6450 as the next major upside targets. In the short term, we will ideally see support at 1.5818 to protect the downside for the break above 1.5949 confirming the resumption of the uptrend. However, a break below 1.5818 will call for a final decline in the correction from the 1.5949 high, to just below 1.5772 to end the correction.

Trading recommendation:

We are long in EUR from 1.5550 and will keep our stop at 1.5750. If you are not long in EUR yet, then buy close to 1.5818 with the same stop at 1.5750.

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Elliott wave analysis of EUR/JPY for September 18 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 140.37

R2: 140.20

140.05

Current spot: 140.00

S1: 139.84

S2: 139.73

S3: 139.61

Technical summary:

There was no time for a deeper red wave ii correction, than to 138.53 and the uptrend has resumed for a rally to important resistance at 143.79. It will be resistance at 143.79 which determines, whether a new long-term rally is developing or the correction from 145.69 will become more complex. We are trading this cross as if the correction from 145.69 is over and a new impulsive rally is developing. A clear break above 143.79 will call for a rally towards at least 167.09 and likely even higher to 186.63.

Trading recommendation:

We are long in EUR from 135.95 and will move stop higher to 138.50. If you are not long in EUR yet, then buy near 139.61 with the same stop at 138.50.

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#USDX Technical analysis for September 18, 2014 Market Analysis Review

The Dollar index gave a buy signal yesterday when it broke above the sideways triangle pattern we noted in our previous analysis. Our short-term target of 84.75 has been achieved and price got rejected at the resistance level.

The Dollar index made a high near 84.85 and is pulling back now to back test the break out area. Support is found at 84.25-84.30 area. The ichimoku cloud is below price and provides important short-term support. The ichimoku cloud indicators continue to point higher. After the pullback, I expect the Dollar index to continue higher towards 85. Critical support at 83.85 should hold for the bullish scenario to come true.

Red line = resistance

The Dollar index in the daily chart has broken the bullish flag upwards as expected towards our target. The daily chart remains fully bullish. Daily support is found at 84.30 and at 83.15. We remain bullish favoring a move towards 85 as long as price is above 83.85.

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Gold Technical analysis for September 18, 2014 Market Analysis Review

Gold price has broken to new lows yesterday as support at $1,230 was broken. Gold price moved below $1,220 as the trend remains bearish as I have been pointing out in the previous analysis. The intermediate-term target is $1,200-$1,180. The longer-term target is $1,000.

Red line = resistance

Blue line = support

Green line = channel

Gold price remains inside the green downward sloping channel. It has broken the short-term support at $1,230 and is making a lower low. The trend remains bearish. The ichimoku cloud indicators as yeterday remain bearish pointing lower towards $1,200.

Red line = resistance

The short-term chart remains bearish. However, we could see a back test of the previous support at $1,230. If Gold price breaks above $1,225 it could push towards $1,230 for the back test of the broken support. The trend is however still bearish as long as price is below $1,243.

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

The pair successfully breached the 200WEma and is trading above that. On the upper side, it has resistance at 0.9456 above this, it can fly up to 0.9534. On the down side, it has support at 0.93. If a weekly close is above 0.94, we can expect a short-term rally. This is a danger zone trading at 200DEma. In the weekly chart, the pair was rejected multiple times to close above the level of 200WEma. We are further bullish only if the pair closes above 0.94 on a weekly basis. If not, we can expect some correction next week.

Intraday traders can buy only above 0.9456. The prices are closed and the pair is trading above the key hourly moving averages. The pair has support at 0.9380 and 0.9350. Safe sell will be possible below 0.9350, buy only above 0.9435, safe buy above 0.9456

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Positional recommendation on USD/CAD for Septwmber 18, 2014 Market Analysis Review

The pair managed to close above 20Wsma on a closing basis, but has made a double top this week at the 1.11 levels. The pair recovered half of its losses. Currently, the pair is trading at the 1.1014 level. Today, the pair opened with a bullish note trading higher. The pair has made strong opening today, so it opened above the previous close. The pair breached a one-month trend line. A daily close above the upper end of the triangle provides 100-200 (1.1150-1.12) pips in the near term with strong resistance 1.11 levels.

Support 1.0970 1.0934 1.0927

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