Short-term analysis of USD/CAD for September 29, 2014 Market Analysis Review

The pair made the highest closing in the previous week. As we have been recommending to buy for the last couple of weeks for a target at 1.1145, 1.1195, 1.1224. We are still waiting for the rest of the targets. For the longer-term perspective, a strong breakout above 1.1230, we can see 1.1938. This view is valid with sl 1.0865. We initiated the buy at 1.1 in the August 22 article. As of now toady the pair went up approximately 200 pips, and we are still waiting for more upside. This week the pair opened on a very strong note (opened lower). We expect the uptrend to continue.

For an hourly and intraday view, the pair has support at 1.1151 and 1.1138, below this, 1.1110 and 1.1074. Use a dip to add the long positions.

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Intraday trading recommendations for GBP/USD for September 29, 2014 Market Analysis Review

The cable has support at 200WEma. Consecutive 3 weeks the pair managed to close above 200Wema. This week we can expect further clear oneside direction in the near and short term. The cable has support at 1.6160, below this, 1.6050 and 1.60 is the strong support zone. A close below 1.60 only the short and medium term turns down. The trading pattern is framed between 1.60-1.66, a break either side will give further room for the rest of the year. On the down side, if it hits 1.60, it can fall to 1.59, 1.5850 and 1.5720 levels. The cable is making a broadening tip in the weekly chart at 1.64. It closed below the descending trend line and hit the ascending trend line. These factors are representing more bearish thoughts in the near term. A daily close above 1.63, the cable can fly up 100 pips, and a daily close above 1.64 only, it can fly up to 1.6575-1.66. Until it closes below 1.64, selling on every upmove will mint the money in the near term and on a weekly basis as well.

For an intraday view, the prices are trading near hourly and intraday key moving averages. We recommend selling at the current market price or if any upmove takes place. We can see 1.62 and 1.6175 in a day or two. The pair has resistance at 1.6254, above this, 1.6282, 1.63 and 1.6345. Fresh upmove is only above 1.6345 towards 1.64-1.6415, strong upmove if only it closes above 1.64.

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Short-term forecast and intraday recommendations on Gold for September 29, 2014 Market Analysis Review

The metal has been testing its fate at $1,212 levels. Though the pair hit it during the intraday session, it managed to trade above it. In the monthly chart $1,212 is at 200MEma. A daily close below $1,215-$1,2$1,2, it can extend its fall to $1,200, $1,185-1,180, $1,150 and may be even $1,135 levels. Below 200MEma, the metal has support at 1,185 (200MSma). We have been recommending to sell the metal for a couple of weeks, the recommendation is the same. The near-term resistance is at $1,237, until the metal closes above $1,237 on a daily basis, the weekly trend favors selling on an upmove. On the down side for the weekly basis, the metal is holding support between $1,215-$1,212 levels.

A monthly close below $1,212, gates are open for $1,185-$1,150-$1,135- pending

For an intraday basis, the metal has been facing strong resistance at hourly key moving averages at $1,219, above this only, the metal looks safe to buy on an hourly basis for a target at $1,224, $1,230 and $1,234 levels. On the down side, it has support at $1,215-$1,212, we recommend only selling below this. Today, as of now, buy above $1,219-$1,220.

Buy above $1,219-$1,220.

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Fundamental analysis and intraday recommendations on EUR/USD for September 29, 2014 Market Analysis Review

The pair is trading at the lowest point of this year, it breached technical support. This week the pair has the couple of key economic events. The German and Spanish CPI data are the key data to focus on as well as the US core PCE price index. Tuesday, German retail sales and unemployment data, French consumer spending and CPI flash data are due. The Spanish and Italian manufacturing data is slated on Wednesday, and the key events are the Thursday ECB press conference, Spanish unemployment and US unemployment claims. The pair hit the 200MEma and is trading below it, it has parallel support at 1.266 (November 2011 low), below this, 1.25, 1.2435 and 1.22 levels. As we recommended earlier, on the down side, 1.22 will act as strong support. On the US dollar front, it has been teasing its counter pairs for the last couple of weeks and is still going on. The US dollar broke the 85 mark, which adds more pressure on the Euro towards 1.22-1.20 levels.

For an intraday view, the prices are below 12ema and 34hrsma. Whenever the pair rises, the 34hrsma acts as strong hurdle and pushes it to new lows from there. The pair hourly and intraday resistance is at 1.2730 12ema, 1.2765 21hsma and 1.28 34hrsma. Until the prices close below 1.28, selling on every upmove will mint the money. The panic will be triggered below 1.266 towards 1.26 and 1.25 in the near term.

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Technical analysis of EUR/USD for September 29, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Prelim CPI m/m, Spanish Flash CPI y/y, Italian 10-y Bond Auction. The US will release the economic data too such as the Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Pending Home Sales m/m, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2736.

Strong Resistance:1.2728.

Original Resistance: 1.2716.

Inner Sell Area: 1.2704.

Target Inner Area: 1.2674.

Inner Buy Area: 1.2644.

Original Support: 1.2632.

Strong Support: 1.2620.

Breakout SELL Level: 1.2612.

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 29, 2014 Market Analysis Review

In Asia, Japan will not release any economic news, but the US will release some economic data such as ore PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Pending Home Sales m/m. So there is a big probability the USD/JPY will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 109.96.

Resistance. 2: 109.75.

Resistance. 1: 109.53.

Support. 1: 109.26.

Support. 2: 109.05.

Support. 3: 108.83.

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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Weekly technical levels of EUR/USD for September 29, 2014 Market Analysis Review

The weekly technical levels of EUR/USD

Outlook :

• The level of 1.2753 is going to form a coherent resistance on September 29, 2014. Moreover, it might be important to notice that the pivot point of the EUR/USD pair will set at the price of 1.2753. Also, it should be noted that the support was broken and turned to resistance last week. As a result in the short term it will very profitable to sell at 1.2650 with a target at 1.2606 in order to test the first support. On the other hand, the best place to set stop loss should be above the weekly pivot point.

Review :

• The pivot point: resistance 3 and support 3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well on sideways markets as the prices are most likely to be located between the resistance 1 and support 1 lines. Within a strong trend, the price is expected to be lower than the pivot point line and to continue moving. If the breaking news released may affect the market, the price is likely to go straight through resistance 1 or support 1 and even reach resistance 2 and resistance 3 or support 2 and support 3.

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Weekly technical levels of GBP/USD for September 29, 2014 Market Analysis Review

The weekly technical levels of the GBP/USD pair.

Trading recommendations :

• According to the previous events, the price of GBP/USD pair has still been trapped between the levels of 1.6235 and 1.6300. Also, it should be noted that the psychological level is at 1.6300 which represents the weekly pivot point on the 19th of September 2014.


• Buy above the weekly support 1 at 1.6184 with the first target at 1.6280 in order to test the weekly pivot point, it might resume to 1.6315 in case the trend will be able to break the level of 1.63.


• Another outlook: Below the resistance which sets at the level of 1.6366, look for further downside with 1.6305 and 1.62 targets. It should be noted that a double bottom will be formed at the level of 1.6161 in H1 chart.

Warning :

• Stop loss should never exceed your maximum exposure amounts.


• Risk to reward ratios are important and should be calculated.

Example :

• A risk reward ratio of 1:1.5 is recommended:


• Risk: 118 pips should make a profit of 177 pips.


• 118 pips * 1:1.5 = 177 pips.

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Daily analysis of USDX for September 29, 2014 Market Analysis Review

The USDX has made a significant bullish movement above the level of 85.18 on the daily chart, so it is very likely that the next target resistance level of 86.20 will be reached in the coming days, although the USDX is showing clear signs of overbought, due to its pronounced bullish trend in this chart.

Daily chart's resistance levels: 86.20 - 87.35

Daily chart's support levels: 85.18 - 84.29

In H1 the chart, the USDX has made a breakout at the level of 85.49, since this instrument had a strong bullish momentum over the support level of 85.27, then it consolidated under the resistance level of 85.73. However, remember that the USDX could start performing corrective Movements during this week, because the USDX is far from the current position of the 200-day moving average in this chart, in addition to the MACD indicator , that is entering overbought area.

H1 chart's resistance levels: 85.73 - 85.95

H1 chart's support levels: 85.49 - 85.27

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 85.73, take profit is at 85.95, and stop loss is at 85.49.

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Daily analysis of GBP/USD for September 29, 2014 Market Analysis Review

On the weekly chart it can be seen that the GBP/USD is trying to form a lower low pattern over the dynamic support offered by the 200 SMA at the level of 1.6249, and below that area, this pair has formed a fractal, so it is very likely that the GBP/USD is making a rebound in the long term, to strengthen the bullish outlook in the long term.

Weekly chart's resistance levels: 1.6478 - 1.6890

Weekly chart's support levels: 1.6249 - 1.6033

However, we can see on the H1 chart, at least in the short and medium term, the GBP/USD intends to continue the bearish trend for several more days, as this pair is consolidating below the 200-day moving average with the formation of a bearish pattern. If the GBP/USD manages to make a breakout at the level of 1.6216, the next target would be set at the territory of the 1.6170 level, which could have much bullish force trying to cause bullish rebounds ofn this pair.

H1 chart's resistance levels: 1.6252 – 1.6291

H1 chart's support levels: 1.6216 – 1.6170

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.6338, take profit is at 1.6375, and stop loss is at 1.6299.

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USDCAD Daily Analysis - September 29, 2014 Forex Analysis

USDCAD's upward movement from 1.0886 extended to as high as 1.1177. Further rise could be expected after a minor consolidation, and next target would be at 1.1300 area. Support is at 1.1080, as long as this level holds, the uptrend will continue.

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USDCHF Daily Analysis - September 29, 2014 Forex Analysis

USDCHF continued its upward movement from 0.8997, and the rise extended to as high as 0.9525. Further rise could be expected after a minor consolidation, and next target would be at 0.9700 area. Near term support is at 0.9450, and the key 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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USDJPY Daily Analysis - September 29, 2014 Forex Analysis

USDJPY broke above 109.45 resistance, indicating that the uptrend from 101.50 has resumed. Further rise could be expected, and next target would be at 112.00 area. Key support is located at 108.24, only break below this level could signal completion of the uptrend.

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AUDUSD Daily Analysis - September 29, 2014 Forex Analysis

AUDUSD's downward movement from 0.9401 extended to as low as 0.8692. Further decline could be expected after a minor consolidation, and next target would be at 0.8600 area. Key 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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GBPUSD Daily Analysis - September 29, 2014 Forex Analysis

GBPUSD's downward movement from 1.6524 extended to as low as 1.6214. Resistance is at 1.6340, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.6100 area. Only break above 1.6340 resistance will indicate that he downward movement is complete, then another rise towards 1.6700 could be seen.

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EURUSD Daily Analysis - September 29, 2014 Forex Analysis

EURUSD continued its downward movement from 1.3411, and the fall extended to as low as 1.2666. Further decline would likely be seen after a minor consolidation, and next target would be at 1.2500 area. Near term resistance is at 1.2765, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break below the trend line resistance could signal completion of the downtrend.

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