Short-term forecast and intraday recommendation on USD/CAD for October 06, 2014 Market Analysis Review

The pair is just 9 pips away from the yearly high at 1.1279. Fresh buying will emerge above 1.1279 for an upside target at 1.1400 within strong resistance at 1.1320 levels. This pair is supported by a fall in crude oil prices. The pair has support at 1.0998, below this only, we recommend selling. We recommend fresh buying only above 1.1289 levels. In case if the pair closes above 1.1289 (monthly) in the longer term it can touch 1.1400 and 1.1646 (200MEma). If the pair closes above the upper end of the ascending symmetric triangle, we can expect 1.1646 in the long term. On a weekly basis, the pair will face selling pressure below 1.1220 levels. On a positional view sellers can start selling below 1.1220 for a downside target at 1.1155 and 1.1135 levels.

For an intraday view, the safe buying will be triggered only above 1.1270 and strong momentum, only above 1.1280 for an upside target at 1.1315. For an hourly perspective the pair has support at 1.1244 and 1.1220. Safe selling will be triggered below 1.1210 for a downside target at 1.1186 and 1.1177 levels. The panic will be triggered below 1.1165 towards 1.1129 and the base support of the ascending symmetric triangle.

Trade-

Buy above 1.1270, strong momentum is above 1.1280, targets are 1.12 and 1.1315.

Sell below 1.1210, targets are 1.1186, 1.1177, and 1.1165.

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Technical analysis of EUR/USD for October 06, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Factory Orders m/m, Retail PMI, Sentix Investor Confidence. The US will not release economic data, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2573.

Strong Resistance:1.2565.

Original Resistance: 1.2553.

Inner Sell Area: 1.2541.

Target Inner Area: 1.2511.

Inner Buy Area: 1.2481.

Original Support: 1.2469.

Strong Support: 1.2457.

Breakout SELL Level: 1.2449.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

email: Arief.jakarta@indo.instaforex.com

Yahoo Messenger & Skype: Arief.ifx_jakarta

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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Short-term forecast and intraday recommendation on USD/CHF for October 06, 2014 Market Analysis Review

The pair successfully breached the 2-year descending trend line in the monthly chart. The pair has been enjoying its uptrend for 3 consecutive months. On the upper side, the pair has resistance at 0.9716, above this, parallel resistances are 0.9751 (July 2013 high), 0.9838 (May 2013 high), 0.9898 (August 2012 high), and 0.9972 (July 2012 high). In case the pair closes above 0.96 on a monthly basis, the pair will aim at 1.0000 and 1.1020 100MSma levels. The pair has monthly support at 0.9456 and 0.9180 levels. As of now, today, the pair made a high at 0.9688, but was unable to sustain above the previous week's high at 0.9684 levels.

We recommend fresh buying above 0.9688 for an upside target at 0.9750 and 0.9790 levels. On the down side, the pair has support at 0.9660. For the bears we recommend safe selling only below 0.9660 for a downside target at 0.9630, 0.9610 and 0.96. For an intraday view, the pair has support at 0.9615, below this, 0.9580 and 0.9558 will act as strong support levels. If the pair falls below 0.9555, it will extend its fall to 0.9518 levels.

Trade-

Selling below 0.9660, target: 0.9630, 0.9615 and 0.9600.

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Short-term forecast and intraday recommendation on GBP/USD for October 06, 2014 Market Analysis Review

The cable drifted below 50MSma and the 50.0 fib level in the monthly chart. The cable has support at 1.5894, 1.5855 (November 2013 low) and 1.5750-1.5720 (August 2013 high), and 61.8 the fib level. The cable is trading at 1.5971, an 11-month low, against the US dollar. It is exactly trading at the upper end of the descending rectangle which turned to support from resistance. In case if the cable closes below the 3-year support trend line and 50MSma, we can expect 150 to 200 pips down. On the upside, 1.6015, 1.6163 and 1.6235 will act as strong monthly resistance levels. 1.6015 is acting as weekly resistance level. On the down side, 1.5914 and 1.59 will act as weekly support levels.

Support 1.5950, 1.5900, 1.5850

Resistance 1.6015, 1.6163, 1.6235

Unless the cable closes above 1.6015, the selling will mint the money in the near term. The short-term trend is still looking favorable for bears until closing below 1.6235 levels. For the rest of the year 2014, until the pair closes below 1.6524, we recommend selling on every rise for a downside target at 1.5875, 1.5750 and 1.55 levels, may be even lower 1.5385. This view is valid with sl 1.6525 on a daily closing basis.

For an intraday view, the prices are closed and trading below the hourly key moving averages 12ema and 34hrsma. Now, as of today, opening a new week, the cable held the previous week's low at 1.5952 levels. We are recommending fresh selling opportunity only below 1.5950 levels for a downside target at 1.5875 levels. In Asia's session the cable is trading at 1.5957. On the higher side, the resistance levels are at 1.6029 (12hour high) and 1.6063 (12ema). We recommend fresh buying only above 1.6065.

Trade-

Selling only below 1.5950, target: 1.5875 and 1.5850.

Buying only above 1.6065, target: 1.6090 and 1.6125.

The material has been provided by InstaForex Company - www.instaforex.com



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Short-term forecast and intraday recommendation on EUR/USD for October 06, 2014 Market Analysis Review

The stronger US data pushed the Euro towards 1.25 levels against the US dollar. Now, as of today, the pair is holding parallel support at September 2012 lows. The pair has strong support at 1.2450, the 80.0 fib level in the monthly chart. In case if the pair breaks below the 80.0 fib level at 1.2450, the pair will extend its fall towards 1.2220. As per the long-term view, in case if the pair closes below 1.22 (the bottom of the triangle in the monthly chart), the pair can fall towards 1.2135, 1.20 and 1.1875. The pair has monthly resistance at 1.2760 levels (200Mema). Until the pair closes below 200Mema, the bears have an upper hand.

Support 1.2500, 1.2450, 1.2220

Resistance 1.2660, 1.2715, 1.2760

For an intraday view, the prices are closed and trading below the hourly key moving averages 12ema and 34hrsma. Selling below 1.25 can mint money in today's session. In case if the pair breaks below 1.25, it will fall towards 1.2466 and 1.2450 levels. On the higher side, the resistance levels are at 1.2520 (4hour high), 1.2550 (8hour high) and 1.2567 35DEMA levels.

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Technical analysis of USD/JPY for October 06, 2014 Market Analysis Review

Today, Japan and the US will not release any economic data. So there is a big probability the USD/JPY will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 110.18.

Resistance. 2: 109.97.

Resistance. 1: 109.75.

Support. 1: 109.49.

Support. 2: 109.28.

Support. 3: 109.06.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

email: Arief.jakarta@indo.instaforex.com

Yahoo Messenger & Skype: Arief.ifx_jakarta

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 06, 2014 . Thanks for your support.

Daily analysis of USDX for October 06, 2014 Market Analysis Review

The USDX had a strong momentum within the bullish trend above the level of 85.90, the H4 chart. Now this instrument is attempting to consolidate above the 86.70 level and then go up to the resistance level of 87.00. However, caution should be exercised, because the USDX could make a pullback at current levels.

H4 chart's resistance levels: 86.70 – 87.00

H4chart's support levels: 85.85 – 85.06

In the H1 chart, the USDX did a bullish consolidation above the support level of 86.17, so far, this instrument is forming a higher high pattern below the resistance level of 86.72. The USDX would have to make a breakout at that level for rise to the resistance level of 87.00, which would be a record high that the USDX has not touched for several months. The MACD indicator is in neutral territory.

H1 chart's resistance levels: 86.72– 87.00

H1 chart's support levels: 86.17 – 85.95

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 86.73 take profit is at 87.00, and stop loss is at 86.44.

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Daily analysis of GBP/USD for October 06, 2014 Market Analysis Review

The GBP/USD continues to weaken in the H4 chart, so this pair is trying to consolidate below the resistance level of 1.6004, so it is very likely that the GBP/USD also finds support at the 1.5900 level, where one bearish trend line is. This decline was driven by the positive indicators of employment in the United States, published last Friday.

H4 chart's resistance levels: 1.6004 - 1.6051

H4 chart's support levels: 1.5811 - 1.698

On the H1 chart, we can clearly see the strength of the current bearish trend for GBP/USD as this pair is forming a lower low pattern below the resistance level of 1.5980. Now, it is likely that the GBP/USD will try to make a correction of its current trend, due to the steep fall that this pair had last Friday. The next target for the GBP/USD on the downside is the support level of 1.5925. The MACD indicator is oversold.

H1 chart's resistance levels: 1.5980 – 1.6031

H1 chart's support levels: 1.5925 – 1.5871

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 1.5925, take profit is at 1.5871, and stop loss is at 1.5980.

The material has been provided by InstaForex Company - www.instaforex.com



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USDCAD Daily Analysis - October 6, 2014 Forex Analysis

USDCAD broke above 1.1222 resistance, indicating that the uptrend from 1.0886 has resumed. Further rise could be expected, and next target would be at 1.1400 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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USDCHF Daily Analysis - October 6, 2014 Forex Analysis

USDCHF's upward movement from 0.9300 extended to as high as 0.9687. Support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9900 area. Only a clear break below the trend line support could signal completion of the uptrend.

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USDJPY Daily Analysis - October 6, 2014 Forex Analysis

USDJPY is facing 110.08 resistance, a break above this level will indicate that the uptrend from 101.06 (Jul 10 low) has resumed, then next target would be at 113.00 area. However, as long as 110.08 resistance holds, sideways consolidation could be expected to continue, and the trading range would be between 108.00 and 110.08.

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AUDUSD Daily Analysis - October 6, 2014 Forex Analysis

After consolidation, AUDUSD continued its downward movement from 0.9401, and the fall extended to as low as 0.8642. Further decline is still possible, and next target would be at 0.8400 area. Key resistance is now at 0.8826, only break above this level could signal completion of the downtrend.

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GBPUSD Daily Analysis - October 6, 2014 Forex Analysis

GBPUSD broke below 1.6051 support, indicating that the downtrend from 1.7190 (Jul 15 high) has resumed. Further decline could be expected after a minor consolidation, and next target would be at 1.5600 area. Resistance levels are at 1.6050 and 1.6080, only break above these levels could trigger another rise to 1.6400 area.

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EURUSD Daily Analysis - October 6, 2014 Forex Analysis

After consolidation, EURUSD continued its downward movement from 1.2994, and the fall extended to as low as 1.2500. Near term resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, further decline could be expected and next target would be at 1.2200 area. Key resistance is at 1.2698, only break above this level could signal completion of the downtrend.

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