Intraday trading recommendations for EUR/JPY for October 02, 2014 Market Analysis Review

Ahead of the ECB press conference, the cross gives some strong gain in the Asian session. If the ECB continues further stimulus, the euro will weaken further. The deflation is the main concern for the ECB. The pair is facing strong resistance at 50Wsma, it is unable to breach it. In yesterday's sell off the pair hit the 61.8 fib level. The nearest support zone is between 137.35-136.90. In yesterday's session the pair made a low at 137.39 and successfully pushed the cross towards the 50Dsma in Asia's session. The pair will get some strength above 137.72, above this, it can fly up to 137.95 and 139.18 levels. Below 136.90, the pair will face selling pressure up to 136 and 135.80 levels. Safe traders can buy only above 137.72.

For an intraday view, the prices closed and are trading below the hourly moving averages at 35DEMA and 34hrsma levels. In yesterday's session the pair faced a strong resistance level at the broken support trend line, support became the resistance bearish formula. We can see strong and safe up move only above 139.20 levels for an intraday basis and above 137.72 it will act as safe buy for an hourly basis for an hourly target at 138.15, above this, 138.26, 138.40, and 138.60 levels. Safe selling will be triggered only below 136.90.

NUTSHELL - ECB further stimulus, EURO further slide.

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Intraday trading recommendations for GBP/USD for October 02, 2014 Market Analysis Review

The UK manufacturing PMI came in at a 17-month low of 51.6, down from 52.2 in August. The cable made a broader top between 1.64 and 1.6410 and was rejected a couple of times at 20Dsma. In yesterday's session the pair took the support at the 80.0 fib level and parallel support at 1.6162, a low made on September 16th in the daily chart. In case of a break below this, it will find support at previous support at 1.6052 and crucial support, at 1.60 (50Msma), the 50.0 fib level from 1.4813 to 1.7192. The short-term trend will turn a complete bearish movement. Once the pair closes below 1.60, it can fall 150-300 pips easily.

Support: 1.6162, 1.6050, 1.60.

Resistance: 1.6260, 1.64-1.6410, 1.6530.

For an intraday view, the pair has been facing strong resistance at the 10-day descending trend line and the 2 months (2-month) descending trend line. The prices are closed below 12ema and 34hrsma. It represents the bearish signs for an hourly and intraday basis. The prices took support at 1.6162 and are looking to bounce back to the resistance levels around 12ema. The sellers will gain only below 1.6162 and bulls get a chance to mint money only above 1.6220 levels. The pair can fly above 1.62 towards 1.6220, 1.6250-1.6260 levels. Sellers can mint money to sell (selling) below 1.6160 towards 1.6120, 1.61 and 1.6050.

Buy above 1.6220 for targets at 1.6250-1.6260 and 1.6285.

Sell below 1.6160 target (for targets at) 1.6120, 1.61, and 1.6050.

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Technical analysis of EUR/USD for October 02, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as Spanish Unemployment Change, PPI m/m, Spanish 10-y Bond Auction, French 10-y Bond Auction, Minimum Bid Rate. The US will release economic data too such as the Unemployment Claims, Factory Orders m/m, Natural Gas Storage, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2684.

Strong Resistance:1.2676.

Original Resistance: 1.2664.

Inner Sell Area: 1.2652.

Target Inner Area: 1.2622.

Inner Buy Area: 1.2592.

Original Support: 1.2580.

Strong Support: 1.2588.

Breakout SELL Level: 1.2560.

Best regards,

Arief Makmur

Official analyst of InstaForex Group

InstaForex Group

http://instaforex.com

email: Arief.jakarta@indo.instaforex.com

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. The material has been provided by InstaForex Company - www.instaforex.com



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Technical analysis of USD/JPY for October 02, 2014 Market Analysis Review

In Asia, Japan will release the Monetary Base y/y, 10-y Bond Auction and the US will release some economic data such as Unemployment Claims, Factory Orders m/m, Natural Gas Storage. So there is a big probability the USD/JPY will move with low to mediumvolatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 109.64.

Resistance. 2: 109.33.

Resistance. 1: 109.12.

Support. 1: 108.85.

Support. 2: 108.64.

Support. 3: 108.42.

Best regards,

Arief Makmur

Official analyst of InstaForex Group

InstaForex Group

http://instaforex.com

email: Arief.jakarta@indo.instaforex.com

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. The material has been provided by InstaForex Company - www.instaforex.com



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Daily analysis of USDX for October 02, 2014 Market Analysis Review

The USDX continues forming a bullish pattern above the trend line at the level of 85.60, so the USDX still has enough bullish strength to continue advance in the medium term. Furthermore, the USDX found strong support on the trend line, so that this instrument is attempting to consolidate above the level of 86.50 . However, USDX could make a pullback at current levels and fall to the support level of 85.06.

Daily chart's resistance levels: 86.20 – 87.35

Daily chart's support levels: 85.18 – 84.29

The USDX continues to find obstacles in the mild resistance of 86.17 at the H1 chart. Now, the USDX is trying to fall back to the support level of 85.73. However, although the USDX remains bullish due to the current position of the moving average of 200 in this chart. The MACD indicator remains in negative territory, so we recommend caution when placing buy orders at current levels.

H1 chart's resistance levels: 85.95 – 86.17

H1 chart's support levels: 85.73 – 85.49

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 85.95 take profit is at 86.17, and stop loss is at 85.73.

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Daily analysis of GBP/USD for October 02, 2014 Market Analysis Review

At the H4 chart, GBP/USD has formed a fractal at the resistance level of 1.6247, which has made this pair consolidate its bearish trend and it is likely that the GBP/USD will continue weakening in the coming hours, even if the support level of 1.6140 is quite strong. Recall that the GBP/USD found strong resistance at the 200-day moving average a few days ago, so this new bearish momentum could continue for a few more weeks in this pair. However, there is some indecision in the current trend, which is reflected in the MACD indicator.

H4 chart's resistance levels: 1.6247 - 1.6435

H4 chart's support levels: 1.6051 - 1.6004

We can see that the GBP/USD intends to extend the bearish trend in the H1 chart, because this pair performed a strong pullback at the level of 1.6250 so again, the GBP/USD is trying to make a breakout at the support level of 1.6170 to fall to the next target level of 1.6117 in the bearish road. The GBP/USD has been following a bearish trend line for several days, below the 200 SMA. The MACD indicator is moving into negative territory which could favor the progression bearish force.

H1 chart's resistance levels: 1.6252 – 1.6216

H1 chart's support levels: 1.6170 – 1.6117

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 1.6170, take profit is at 1.6117, and stop loss is at 1.6223.

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Technical analysis of USD/CAD for October 2, 2014 Market Analysis Review

Overview :

• The USD/CAD pair is calling for the bullish market from the level of 1.1135 this week. The level of 1.1135 is representing support 1 and the second support is set at the level of 1.1092. As it is know, history will probably repeat itself at this level. Therefore, it will be a good sign to buy above supports (1.1135 or 1.1092) with the first target of 1.1220 (the peak in H4 chart). If the pair is able to break this top, then it will call for uptrend in order to continue its bullish movement towards 1.1260. On the other hand, the stop loss should never exceed your maximum exposure amounts. Consequently, the stop loss should be placed below the double bottom at the price of 1.1053. .

Notes :

• It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.


• We expect a new range about 55 -70 pips today.


• The key level will set at the level of 1.1135.

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Technical analysis of NZD/USD for October 2, 2014 Market Analysis Review

Forecast in the long term :

• According to previous events, the NZD/USD pair has still been trapped between the levels 0.7805 and 0.7714.


• Strong resistance will be formed at the level of 0.7805 providing a clear signal for sell deals with the targets seen at 0.7750 nad 0.77.


• Stop-loss is to be placed above 0.7853.


• In the short term, strong support will be formed at the level of 0.7666 providing a clear signal for buy deals with a small target seen at the 0.7730 level in order to retest support.

Notes :

• We expect a range about 60 pips today.


• The risk of 40 pips must make a profit of 60 pips.


• The level of 0.7800 will confirm the bearish market.


• Volatility is 122.81. As a rule, the market is highly volatile if the prior day had a huge volatility.

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USDCAD Daily Analysis - October 2, 2014 Forex Analysis

USDCAD broke below 1.1130 support, indicating that the uptrend from 1.0886 had completed at 1.1222 already. Deeper decline could be expected, and the target would be at 1.0980 area. Resistance is at 1.1145, only break above this level could trigger another rise towards 1.1300 area.

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USDCHF Daily Analysis - October 2, 2014 Forex Analysis

USDCHF remains in uptrend from 0.9300, the fall from 0.9596 is likely consolidation of the uptrend. Support is at 0.9485, as long as this level holds, the uptrend could be expected to continue, and next target would be at 0.9700 area. On the downside, a breakdown below 0.9485 support will signal completion of the uptrend, then deeper decline to 0.9400 area could be seen.

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USDJPY Daily Analysis - October 2, 2014 Forex Analysis

USDJPY is facing 108.24 support, a breakdown below this level will signal completion of the uptrend from 101.50, then deeper decline to 107.00 area could be seen. On the upside, as long as 108.24 support holds, the uptrend could be expected to resume, and next target would be at 112.00 area.

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AUDUSD Daily Analysis - October 2, 2014 Forex Analysis

AUDUSD broke above the resistance of the downward trend line on 4-hour chart, indicating that the downtrend from 0.9401 had completed at 0.8663 already, range trading between 0.8663 and 1.8870 would likely be seen over the next several days.

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GBPUSD Daily Analysis - October 2, 2014 Forex Analysis

GBPUSD remains in downtrend from 1.6524, deeper decline is still possible and next target would be at 1.6100 area. Resistance is at 1.6290, only break above this level will indicate that the downtrend had completed at 1.6161 already, then another rise towards 1.6700 could be seen.

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EURUSD Daily Analysis - October 2, 2014 Forex Analysis

EURUSD is facing the resistance of the upper line of the price channel on 4-hour chart, a clear break above the channel resistance will signal completion of the uptrend from 1.2994, then further rise to 1.2900 area is possible. On the downside, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.2400 area.

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Elliott wave analysis of EUR/NZD for October 1 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 1.6294

R2: 1.6246

R1: 1.6186

Current spot: 1.6159

S1: 1.6135

S2: 1.6100

S3: 1.6083

Technical summary:

The correction in wave iv from 1.6446 has been deeper than initially expected. However, we still believe support at 1.6135 will be able to protect the downside for a break above minor resistance at 1.6186 and more importantly a break above resistance at 1.6246, that indicates that the correction is over and a new impulsive rally higher to 1.6445 and 1.6831 is unfolding. Even if support at 1.6135 should be broken, the downside potential should be very limited from here and support at 1.6083 would likely halt the decline.

Trading recommendation:

We are long in EUR from 1.5826 with stop placed at 1.6100. If you are not long in EUR yet, then buy near 1.6135 with the same stop at 1.6100.

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Elliott wave analysis of EUR/JPY for October 1 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 139.13

R2: 138.80

R1: 138.50

Current spot: 138.35

S1: 138.32

S2: 138.18

S3: 137.94

Technical summary:

The correction in red wave ii from 141.22 has been deeper than originally expected and has almost hit the 61.8% corrective target at 137.89 (the low has been at 137.94). However, to indicate that red wave ii is over and red wave iii is bulding, we need a break above 138.80 and more importantly, we need a break above resistance at 139.13 to confirm that red wave iii has taken over for a new rally towards 141.22 on the way higher to 143.78.

Trading recommendation:

We will move our EUR-buy order lower to 138.85 and place stop just below the low reached in red wave ii.

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Technical analysis of EUR/USD for October 1, 2014 Market Analysis Review

Overview :

• A bearish outlook of the EUR/USD pair on the 1st of October 2014. So, according to the previous events, the EUR/USD pair has still been moving between 1.2636 and 1.2571. The prices of 1.2636 and 1.2571 will represent the ratio of 50% Fibonacci retracement levels and the double bottom respectively. It should be noted that the key level is set at the level of 1.2620. Equally important, the resistance will be formed at the area of 1.2620 / 1.2636 levels. As it is know, history will probably repeat itself at this level again. Therefore, it will be a good sign to sell below 1.2620 / 1.2636 with the first target of 1.2571 in order to retest the double bottom again. Moreover, it will call for a downtrend to continue its bearish movement towards 1.2536. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed above the last bearish wave (1.2640) at the price of 1.2675.

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#USDX Technical analysis for October 1, 2014 Market Analysis Review

The Dollar index made a new higher high yesterday as expected. Trend remains bullish and as I have mentioned in previous posts, the best strategy is to follow this trend and not bet against it. The pull backs are shallow and the tremendous strength of the Dollar is crushing everyone against it. The break out above 85 as we mentioned a few days ago was very important.

The Dollar index remains in fully bullish mode according to our Ichimoku cloud indicator. Support at 85.50 was held and price is now back above our short-term target of 86. Trend remains bullish as price continues to make higher highs and higher lows. We prefer to continue to follow this trend and raise our stops rather than take profits or bet against this trend. Looking for a top and shorting this index is very dangerous as the trend is very strong.

Red line = resistance

Blue line = support

The monthly chart above shows the important break out that occured in the Dollar index. Not only was the triangle broken but the index has also made a new higher high from 2011. This strong break out was several times noted in our past analysis. Even our modest bullish targets of 85-86 were achieved and the strength of the index remains remarkable. Yes the rise is parabolic and the pull back could be very sharp and painfull for bulls, that is why we prefer to raise our stops to 85.47 and remain long.

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Gold Wave analysis for October 1, 2014 Market Analysis Review

Gold price had a very volatile session yesterday. It made a new lower low at $1,204 and then spiked up towards $1,220 and today is back down below $1,210. Selling pressures continue and do not let the precious metal push above resistance. The trend remains bearish and it is very probable to see a test of $1,180 very soon.

Blue line = support

Green line = price channel

Gold price remains below the Ichimoku cloud and inside the downward sloping channel. Price has broken below the support and double bottom at $1,207 and is now trading marginally lower. Yesterday, the spike up towards $1,220 was short-lived and the rejection at that area confirmed that the trend remains bearish.

I continue to believe we have started wave 5 down and we should soon see a break of the lows at $1,180. I expect Gold price to move towards $1,000 as I believe we are making impulsive waves down and the corrective sideways move is over. The trend is clearly bearish and price even in the weekly chart as shown above is below the Ichimoku cloud after being rejected and confirming our bearish view.

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Technical analysis of USD/CAD for October 1, 2014 Market Analysis Review

General overview for 01/10/2014 09:40 CET

The upward wave progressions developing as anticipated and the price keeps making higher highs as shown on the chart. Currently, the red cycle has not been completed yet as the market consolidates recent gains and it is getting ready to breakout to the upside again when the corrective cycle wave 4 red is completed. The target is at the level of 1.1275.

Support/Resistance:

1.1275 - WR1

1.2222 - Intraday Resistance

1.1191 - Intraday Support

1.1129 - Intraday Support

1.1098 - Weekly Pivot

Trading recommendations:

The trailing stop loss orders for all buy positions should be moved just below 1.1191 in case the corrective cycle will be more complex and deeper in retracement.The short-term bias is bullish and only buy orders should be open in this market. The target is at the level of 1.1275.

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Technical analysis of EUR/JPY for October 1, 2014 Market Analysis Review

General overview for 01/10/2014 09:20 CET

The previous bullish impulsive count has been invalidated due to wave -1- and wave -2- overlaps. Currently, there are two possible counts with main one counting (a)(b)(c) three-wave sequence to the upside completed at the level of 141.20, and the alternative one (alt:(1), alt:(2)), that counts the possible impassive wave progression to the upside as a still possible. The recent retracement cycle has almost hit 61%Fibo at the level of 137.87 but it looks like the correction needs one more wave to the downside to complete the wave Z brown of the overall complex corrective cycle. The key level is a crucial zone to the upside, and only if this grey rectangular zone between the levels of 138.96 - 139.20 is clearly violated, bulls will regain control.

Support/Resistance:

137.12 - WS2

137.73 - WS1

137.60 - 137.87 - Important Fibo Zone

137.94 - Intraday Support

138.79 - Intraday Resistance

138.96 - Weekly Pivot

138.96 - 139.20 - Demand Breakthrough Zone

139.59 - WR1

140.20 - Technical Resistance

140.79 - WR2

141.20 - Swing High

Trading recommendations:

Day traders should consider opening buy positions from the zone between 137.60 - 137.87, with SL just below the level of 137.59 and TP at the level of 139.20.

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Technical Analysis of USD/CAD for October 01, 2014 Market Analysis Review

The pair made a highest closing on the previous week. As we are recommending to buy for the last couple of weeks with a target at 1.1145, 1.1195, and 1.1224. We are still waiting for the rest of the targets. The pair is trying to breach the March 2014 high at 1.1279, currently it is trading at 1.1214. Above this - at 1.1528 and 1.687. For the longer-term perspective, a strong breakout above 1.1230 we can see 1.1938. This view is valid with sl 1.0865. This week the pair opened with a very strong lower note. We expect the upmove to continue further. For an hourly and intraday view, the pair has support at 1.1194,1.1155, and 1.1130; below this the pair will face some selling pressure. Use a dip to add the long positions.

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Intraday trading recommendations on EUR/JPY for October 01, 2014 Market Analysis Review

The pair faced strong selling pressure in yesterday's session and held support at the 61.8 fib level; below this 137.70-137.50 is a strong support zone . In the previous week, the pair hit and closed below the top end of the trend line. This week, as of now the pair is facing strong resistance at 50Wsma 139.20. Safe buy will trigger only above 139.20 only. The trading pattern is framed between the 139.70-137.70 levels. If a break is below 137.50, it will fall up to 136.90 levels.

For an intraday view, the prices are closed below key hourly moving averages. The prices are facing strong resistance in a 1-month trend line; support has become resistance. We recommend buying above 139.12 with an upside target at the 139.45 and 139.65 levels. Selling below 138.35 will mint the money.

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Intraday trading recommendations on USD/SGD for October 01, 2014 Market Analysis Review

The pair gave an upside breakout from the 3-year descending trend line on the previous week. This week, the pair is showing good strength trying to breach a 14-month another trend line. The pair has the nearest resistance existed at 1.2769 61.8 fib level above this, it can extend its rally up to 1.2835-1.2838 and 1.2950 in a couple of weeks. The pair has strong support at 1.2670 below this, 1.2564 is strong support in the short-term view. Fresh buyers can buy only above the blue trend line.

For an intraday view, the prices are closed and trading above the 12ema and 35DEMA. The pair has support at 1.27, only below this the pair turns to bearish on an hourly basis. Sustaining above 1.2745, we can see 1.28-1.2805 today.

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Intraday trading recommendations on Gold for October 01, 2014 Market Analysis Review

The yellow metal drifted to a 9-month low at $1,204.10. As we entered into the Q4, the initial ticks are in green. If we look back to Q2, the metal drops $123 from the open price. In Q3 2013, the metal fell approximately $145 from the open price and $180 for the high price. The metal is making lower lows on the weekly chart for 9 weeks. On the down side, it has support at $1,200 and $1,195 below, further at $1,185-$1,180 and $1,150, maybe even $1,135 in the near term. The metal finally closes below 200MEma $1,212.50. Currently the same is acting as initial resistance. On the down side 200MSma or $1,185 will act as an intermediate support below this the bottom of the support line existed at $1,182-$1,180.

For an intraday view, the metal prices are closed and are trading below 12ema and 35DEMA. The metal is facing strong resistance at 35DEMA. We recommend selling on every up move. Until the price trades below $1,212.50, the selling pressure still continues. On the down side, it has support at $1,206-$1,204 below these, it will extend its fall up to $1,200 and $1,295. If the metal managed to trade above $1,212, it has an intraday resistance at $1,217.50. Use every up move to sell. We have been recommending the same from the $1,270 levels.

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GBP/USD intraday technical levels and trading recommendations for October 1, 2014 Market Analysis Review

Overview:

On July 15, extensive bearish impulse was initiated. Since then, the GBP/USD pair has been down-trending below the depicted downtrend line.

Two bearish impulses were previously initiated around 1.7180 and 1.6630 corresponding to the downtrend line.

The price level of 1.6140 constituted a prominent weekly support to meet the pair. Bullish rejection was witnessed in the previous visit. This led to 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 being established applied as expected in previous articles.

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

Trading recommendations:

Based on the previous data, the market offered a valid SELL opportunity around 1.6460 during last week's consolidations.

This short position remains valid as long as the bears keep defending price zone of 1.6250-1.6320 ( 23.6% Fibonacci level and previous broken bottom ).Hence, Stop Loss should be located slightly above these price zone. This secures some of the profits.

Bearish targets are located around 1.6160 and 1.6080.

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Intraday technical levels and trading recommendations on GBP/USD for October 1, 2014 Market Analysis Review

Since July 15, bears initiated the manifested downtrend around 1.7180. This downside movement is maintained within the depicted bearish channel.

Previous weekly bearish gap (about 150 pips) enabled bears to test 1.6058 when significant bullish recovery was manifested.

Bullish engulfing daily candlesticks were expressed during last week shooting towards 61.8% Fibonacci level located around 1.6400.

Price level of 1.6400 stands as a prominent daily resistance. This price zone corresponds to 61.8% Fibonacci level as well as the upper limit of the current movement channel.

The bearish scenario was enhanced by shooting-star daily candlestick that was expressed when the pair spoke up to 1.6515.

Friday's daily closure within the channel ( below 1.6300 ) further enhanced the bearish scenario towards 1.6140 and probably towards 1.6060.

The GBP/USD pair has been downtrending for almost eight successive weeks. Moreover, evident bearish momentum kept pushing lower until September 9.

Bullish fixation above price level of 1.6150 and 1.6275 (neckline of the 123 reversal pattern) allowed a bullish corrective move to take place towards 1.6350 and 1.6410 ( 61.8% Fibonacci Levels ).

Technically, a valid SELL entry was suggested at retesting of price levels around 1.6410. This position is running in profits now.

Price level 1.6150 should be monitored for price action. 4H fixation below 1.6140 is essential to pursue the current bearish movement. Otherwise, a long-term ascending bottom will probably be established.

However, the bearish scenario is better enhanced by the successive lower highs being expressed on the 4H chart during the past few consolidation days. This applies continuous bearish pressure on the previously mentioned DEMAND level ( 1.6140 ).

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Daily analysis of major pairs for October 1, 2014 Market Analysis Review

EUR/USD: As a result of a perpetual strength in the Greenback, this pair continues to be weak, going further south. Any rallies that happen in this market are good opportunities to sell at better prices. The pair is now trading below the resistance line at 1.2650, going towards the support line at 1.2550.

USD/CHF: This pair would continue to go upwards as long as the EUR/USD pair goes down. The single most important reason for the stamina in this pair is the strength in the USD itself. The USD is the strongest currency among the major currencies right now, and this very pair can reach the resistance level at 0.9600, having broken the support level at 0.9550 to the upside.

GBP/USD: There is now a Bearish Confirmation Pattern in the GBP/USD chart – the price is below the EMAs 11 and 56 and the RSI period 14 is below the level 50. The price has already breached the distribution territory at 1.6200 to the downside, going towards the accumulation territory at 1.6150.

USD/JPY: The USD/JPY pair continues its northward journey in a slow and steady manner. The price is currently trading above the demand level at 109.50 and it would soon break the supply level at 110.00 to the upside. Meanwhile, there is a demand level at 109.00 which could ensure that any bearish effort on the way is frustrated.

EUR/JPY: In spite of the clear volatility in this market, the EUR/JPY pair remains weak. The ‘sell’ signal would be valid as long as the price is unable to go above the EMA 56. There is a high possibility that the price may test the demand zone at 138.00 again, for that demand zone has previously been tested.

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Technical analysis of USD/JPY for October 01, 2014 Market Analysis Review

Fundamental Overview:

USD/JPY is expected to consolidate with a bullish bias after hitting a six-year high 109.86 on Tuesday. It is underpinned by the positive dollar sentiment (ICE spot dollar index hit four-year-high 86.218 Tuesday, last at 85.93 versus 85.62 early Tuesday) on relatively hawkish Federal Reserve's monetary policy and outperformance of the U.S. economy versus other major economies. USD/JPY is also supported by the demand from Japanese importers, higher U.S. Treasury yields (10-year at 2.495% versus 2.479% late Monday) and weak yen sentiment on surprise 1.5% on-month drop in Japan's August industrial production (versus forecast +0.3%) and ultra-loose Bank of Japan's monetary policy. But USD sentiment is dented by the bigger-than-expected drop in Conference Board U.S. consumer confidence index to 86.0 in September from a revised 93.4 in August (versu forecast 92.8), worse-than-expected drop in U.S. ISM-Chicago PMI to 60.5 in September from 64.3 in August (versus forecast 62.0). USD/JPY gains are tempered by Japanese export sales and diminished investor risk appetite (VIX fear gauge rose 2.07% to 16.31, S&P 500 slipped 0.28% overnight to close at 1,972.29) amid caution ahead of the European Central bank's interest rate decision Thursday and U.S. non-farm payrolls data Friday, while pro-democracy protests in Hong Kong (crowds expected to increase Wednesday as two-day holiday starts) and lower final HSBC China September manufacturing PMI of 50.2 versus preliminary reading of 50.5 added to concerns over global economic outlook.

Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at the overbought zone, five and 15-day moving averages are advancing.

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 110.30. A break of this target will move the pair further downwards to 110.55. The pivot point stands at 109.50. 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 109.20 and the second target at 108.80.

Resistance levels:

110.30

110.55

110.85

Support levels:

109.20

108.80

108.50

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Technical analysis of USD/CHF for October 01, 2014 Market Analysis Review

Fundamental Overview:

USD/CHF is expected to consolidate with a bullish bias after hitting a 14-month high 0.9597 on Tuesday. It is supported by the positive dollar sentiment (ICE spot dollar index hit four-year-high 86.218 Tuesday, last at 85.93 versus 85.62 early Tuesday) on relatively hawkish Federal Reserve's monetary policy and outperformance of the U.S. economy versus other major economies, contagion from weak EUR on CHF and dovish Swiss National Bank's monetary policy.

Technical Comments:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at 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 0.96 and the second target at 0.9650. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9485. A break of this target would push the pair further downwards and one may expect the second target at 0.9455. The pivot point is at 0.9530.

Resistance levels:

0.96

0.9650

0.9685



Support levels:

0.9485

0.9455

0.9415

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Technical analysis of NZD/USD for October 01, 2014 Market Analysis Review

Fundamental Overview:

NZD/USD is expected to trade in a lower range. NZD/USD is supported by Kiwi demand on cross trades versus major currencies. But NZD/USD gains are tempered by the positive dollar sentiment, waning investor risk appetite and threat of the central bank intervened to weaken the NZD. It is supported by the positive dollar sentiment (ICE spot dollar index hit four-year-high 86.218 Tuesday, last at 85.93 versus 85.62 early Tuesday) on relatively hawkish Federal Reserve's monetary policy and outperformance of the U.S. economy versus other major economies.

Technical Comment:
Daily chart is still negative-biased as MACD is bearish, stochastics stays suppressed at oversold zone, 5 and 15-day moving averages falling, although inside-day-range pattern was completed on Tuesday.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.7730. A break of this target will move the pair further downwards to 0.77. The pivot point stands at 0.7830. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.7910 and the second target at 0.7955.

Resistance levels:

0.7910

0.7955

0.8035

Support levels:

0.7730

0.77

0.7675

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Technical analysis of GBP/JPY for October 01, 2014 Market Analysis Review

Fundamental Overview:

GBP/JPY is expected to resume a bullish bias. It is undermined by the weak EUR sentiment and Japanese export sales. But GBP/JPY losses are tempered by the demand from Japanese importers and buoyant USD/JPY undertone and surprise 0.2% on-month drop in U.K. Nationwide September house price index (versus forecast +0.5%). Besides, the currency pair is also tempered by the sterling demand on soft EUR/GBP cross and expectations of rate increase from Bank of England in early 2015. Daily chart is negative-biased as MACD and stochastics are bearish, five-day moving average is below 15-day MA and is declining.

Technical Comment:
Daily chart is negative-biased as MACD and stochastics are bearish, five-day moving average is below 15-day MA and is declining.

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 178.45 and the second target at 179.15. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 176.75. A break of this target would push the pair further downwards and one may expect the second target at 175.80. The pivot point is at 177.35.

Resistance levels:

178.45

179.15

179.90

Support levels:

176.75

175.80

175.30

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Technical analysis of EUR/USD for October 01, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as Spanish Manufacturing PMI, Italian Manufacturing PMI, Final Manufacturing PMI, and German 10-y Bond Auction. The US will release the economic data too such as the ADP Non-Farm Employment Change, Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, Crude Oil Inventories, Total Vehicle Sales, so amid the reports, EUR/USD will move medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2690.

Strong Resistance:1.2682.

Original Resistance: 1.2670.

Inner Sell Area: 1.2658.

Target Inner Area: 1.2628.

Inner Buy Area: 1.2598.

Original Support: 1.2586.

Strong Support: 1.2574.

Breakout SELL Level: 1.2566.

Best regards,

Arief Makmur

Official Analyst of InstaForexGroup

InstaForex Group

http://instaforex.com

email: Arief.jakarta@indo.instaforex.com

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for October 01, 2014 . Thanks for your support.

Technical analysis of USD/JPY for October 01, 2014 Market Analysis Review

In Asia, Japan will release the Tankan Manufacturing Index, Tankan Non-Manufacturing Index, and Final Manufacturing PMI. The US will publish some economic data such as ADP Non-Farm Employment Change, Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, Crude Oil Inventories, Total Vehicle Sales. So, there is a big probability the USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 110.39.

Resistance. 2: 110.17.

Resistance. 1: 109.96.

Support. 1: 109.69.

Support. 2: 109.48.

Support. 3: 109.26.

Best regards,

Arief Makmur

Official Analyst of InstaForexGroup

InstaForex Group

http://instaforex.com

email: Arief.jakarta@indo.instaforex.com

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/JPY for October 01, 2014 . Thanks for your support.

Daily analysis of USDX for October 01, 2014 Market Analysis Review

On the daily chart, you can see that the USDX has finally hit the resistance level of 86.20, because the USDX has been very strong in the bullish trend due to the strong impulses that the instrument has been getting after the publication of several economic indicators in the United States. The USDX could begin to form a higher high pattern for a breakout at the resistance level of 86.20 and advance to the next target at the 87.35 level. However, the USDX could begin to enter a phase of consolidation.

Daily chart's resistance levels: 86.20 – 87.35

Daily chart's support levels: 85.18 – 84.29

On the H1 chart, we can see a rather peculiar situation for the USDX, because this instrument found support at the same level for several consecutive hours in yesterday's session. This level is located at 85.62, where the USDX performed a rebound thanks to the force exerted by the bulls. The USDX is still holding above the 200 SMA.

H1 chart's resistance levels: 85.95 – 86.17

H1 chart's support levels: 85.73 – 85.49

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 85.95 take profit is at 86.17, and stop loss is at 85.73.

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