Technical analysis on USDX for October 08, 2014 Market Analysis Review

We recommend buying at the current market price at 85.66, using sl 85.18, with targets at 85.90, 86.00 and 86.10 levels. The prices are closed and trading below hourly key moving averages 12ema. In the early Pacific hours, the price was rejected at 34hrsma and drifted lower to 20Dsma. The prices are taking multi support at 85.18 in the h4 and daily chart. In case if the price falls below 85.18, it has the nearest intraweek support at 85.07 20Dsma. In case, the price closes below 85.07 on a daily basis, the intraweek trend turns down. The prices are consolidating in a trading range between 86.22 and 85.18. We can expect huge buying above 86.22 levels.

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Technical analysis on EUR/JPY for October 08, 2014 Market Analysis Review

The pair is facing strong resistance at 50Wsma. It was unable to breach the level during the previous week. This week the pair is facing strong resistance at 20Wsma, at 137.91. In yesterday's deals the pair was again sold off and took the support at the 80.0 fib level on a closing basis and closed at 136.85 levels. Today the pair is showing a strong pullback in Asia's session with the support of at the previous low. The pair has resistance at 137.04 levels. The pair is trading on a bearish note, close below 50Wsma and 20Wsma represents short-term weakness. A close below 50Dsma represents near-term noise. Combined selling on every up move will mint the money.

For an intraday view, the prices are trading below the hourly moving averages 35DEMA and 12ema levels. The pair is facing strong resistance at 137.04, 12ema and 18 hr high. We can see strong and safe selling at current market price. If the pair manages to breach above 137.04 it can fly up to 137.50, 137.76 and 137.87. Until the h4 candle closes above the descending trend line, use every up move to sell.

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Intraday trading recommendations on USD/JPY for October 08, 2014 Market Analysis Review

The BOJ kept policy unchanged. The bank will continue with the qualitative monetary easing, aiming to achieve the price stability target of 2%. In yesterday's session the pair dropped and closed below 20Dsma. In today's session ahead of the FOMC meeting minutes the pair is supported by buying at lower levels and facing strong resistance at 108.55. Today, as of now the pair made a low at 107.76, the 23.6 fib level in the weekly chart and pulled from the lows. We can expect fresh up move only above 20Dsma, at 108.55 levels. On the down side, if the pair again breaks below 107.76, it can extend its fall to 107.39, 107.10 and 106.80 levels.

For an hourly trading perspective, the momentum oscillators indicating pull back will take place. The prices are closed and trading below 12ema and 35DEMA. We recommend fresh buying above 108.44, targets are at 108.60, 108.75 and 109.00. In case if the pair manages to trade above 34hrsma at 109.0, strong buying will take place towards 109.25 and 109.45 levels. In the h4 chart, for the first time we can see lower high and lower low swings after a couple of months. The pair has support near 108.0 and 107.75.

Trade-

Buying above 108.44, safe buying above 108.60

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Technical analysis of EUR/USD for October 08, 2014 Market Analysis Review

When the European market opens, there is no economic news to be released, but the US will release economic data such as the Crude Oil Inventories, 10-y Bond Auction, FOMC Meeting Minutes, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2727.

Strong Resistance:1.2719.

Original Resistance: 1.2707.

Inner Sell Area: 1.2695.

Target Inner Area: 1.2665.

Inner Buy Area: 1.2635.

Original Support: 1.2623.

Strong Support: 1.2611.

Breakout SELL Level: 1.2603.

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 08, 2014 Market Analysis Review

In Asia, Japan will release the Current Account, BOJ Monthly Report, conomy Watchers Sentiment, and the US will release some economic data such as Crude Oil Inventories, 10-y Bond Auction, FOMC Meeting Minutes. So there is a big probability the USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 108.87.

Resistance. 2: 108.66.

Resistance. 1: 108.45.

Support. 1: 108.19.

Support. 2: 107.98.

Support. 3: 107.76.

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 GBP/CHF for October 08, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is stalling at 1.5400 levels for now; after pulling back from 1.5470 resistance levels earlier. A push below 1.5375 would be still required to accelerate further downfall towards 1.5200. Immediate support is seen at 1.5300, followed by 1.5200, while resistance is fixed at 1.5550 respectively. It is recommended to remain short for now, risk remains above 1.5550. The pair is poised to correct at least towards 1.5200 before resuming rally again. Please note that fibonacci 0.618 support and past resistance turned support region is also around the same level 1.5200/1.5180.

Trading recommendations:

Remain short for now, stop at 1.5560, target 1.5200.

Good luck!

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Weekly forecast and an intraday analysis on USD/CHF for October 08, 2014 Market Analysis Review

The pair opened this week on a bearish note and has continued its bearish move in a row of 2 days. After consecutive 7 weeks of weekly green candles, this week, as of now, in the weekly chart the bears have an upper hand. The pair erased its Friday's gain completely in Monday's and Tuesday's sessions. The pair has weekly support at 0.9489, the 61.6 fib level and 0.9465 (20Dsma). If the pair closes below 0.9465, the bears will have an upper hand and the weekly trend turns down. Today, as of now, in the Pacific session, the pair is unable to breach above the previous opening price. It represents that some more weakness is acting in the foreground, but ahead of the FOMC meeting minutes, lower level buying we can see from 0.9560 to 9515 levels.

For an intraday view, the prices are closed and trading below 12ema and DEMA. In yesterday's session the prices faced strong resistance at 35DEMA. In the h4 chart, the pair has hourly resistance at 0.9587, 0.96055 and 0.9625. Unless the pair passes 0.9625, on the down side we can expect 0.9518, 0.9505 and 0.9489 levels. If the prices fall below 0.9518, the selling pressure will increase to touch 0.9489 and 0.9465. Ahead of the FOMC meeting minutes, we expect a pullback from the lower levels. Huge buying will take place above 0.9625 and panic, below 0.9555.

Trade-

Buy at cmp 0.9567, target 0.9587, 0.9606 and 0.9625.

Selling only below 0.9555.

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Daily analysis of USDX for October 08, 2014 Market Analysis Review

The USDX has been consolidating under the bullish trend line at the level of 85.85, and now the USDX is trying to fall to the support level of 85.06. If USDX manages to perform a breakout at that level, it would be expected to drop to the level of 84.47, where the 200 SMA is located. However, USDX could perform a rebound at that level. The MACD indicator is in negative territory.

H4chart's resistance levels: 86.20 – 87.35

H4chart's support levels: 85.18 – 84.29

On the H1 chart, the USDX is trying to make a breakout at the support level of 85.49, with the formation of a lower low pattern. However, the USDX could conduct a rebound at current levels, because the 200 SMA could serve as dynamic support in the USDX. However, on the downside, the USDX may fall to the level of 85.27.

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 sell (short) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 85.49, take profit is at 85.27, and stop loss is at 85.73.

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Daily analysis of GBP/USD for October 08, 2014 Market Analysis Review

In the H4 chart, the GBP/USD continues to recover after the fall below the 1.6000 level, so far, the GBP/USD is trying to make a deep retracement to the resistance level of 1.6247, which is a pretty strong area. However, it is very likely that this pair will rise to the 200-day moving average this week. For now, we recommend caution when placing buy orders at current levels.

H4 chart's resistance levels: 1.6247 - 1.6435

H4 chart's support levels: 1.6051 - 1.6004

The GBP/USD is consolidating above support at the 1.6075 level, because this pair performed a breakout at that level during yesterday's session. On the H1 chart, we can see that this pair is attempting to make a breakout at the resistance level of 1.6117. If successful, the next target would be the level of 1.6170. The MACD indicator is entering negative territory.

H1 chart's resistance levels: 1.6117 – 1.6170

H1 chart's support levels: 1.6075 – 1.6031

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 1.6075, take profit is at 1.031, and stop loss is at 1.6118.

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USDCAD Daily Analysis - October 8, 2014 Forex Analysis

USDCAD remains in uptrend from 1.0886, the fall from 1.1269 is likely consolidation of the uptrend. Key support is at 1.1071, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.1400 area. Only break below 1.1071 support could signal completion of the uptrend.

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USDCHF Daily Analysis - October 8, 2014 Forex Analysis

USDCHF broke below the upward trend line on 4-hour chart, deeper decline to test 0.9516 support is possible, a breakdown below this level will indicate that consolidation of the uptrend from 0.8997 (Aug 15 low) is underway, then the pair will find support around 0.9450. On the upside, as long as 0.9516 support holds, the uptrend from 0.9300 could be expected to resume, and next target would be at 0.9900 area.

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USDJPY Daily Analysis - October 8, 2014 Forex Analysis

USDJPY broke below 108.00 support, indicating that lengthier consolidation for the uptrend from 101.06 (Jul 10 low) is needed. Range trading between 107.00 and 110.08 would likely be seen over the next several days. However, the uptrend could be expected to resume after consolidation, and a break above 110.08 resistance could trigger another rise towards 115.00.

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AUDUSD Daily Analysis - October 8, 2014 Forex Analysis

AUDUSD broke above 0.8826 resistance, indicating that the downtrend from 0.9401 had completed at 0.8642 already. Further rally would likely be seen in a couple of days, and the target would be at 0.8900 - 0.8950 area. Support levels are at 0.8720 and 0.8642, only break below these levels could trigger another fall towards 0.8000.

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GBPUSD Daily Analysis - October 8, 2014 Forex Analysis

GBPUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the rise from 1.5951 could be treated as consolidation of the downtrend from 1.6524, another fall to 1.5600 area is still possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.5951 already, then the following upward movement could bring price to 1.6400 zone.

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EURUSD Daily Analysis - October 8, 2014 Forex Analysis

EURUSD is facing 1.2698 resistance, a break of this level will indicate that the downtrend from 1.2994 had completed at 1.2500 already, then further rise to 1.2850 area could be seen. On the downside, as long as 1.2698 resistance holds, the rise from 1.2500 would possibly be consolidation of the downtrend, another fall to 1.2200 area is still possible.

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Technical analysis of USD/JPY for October 07, 2014 Market Analysis Review

Fundamental Overview:

USD/JPY is expected to consolidate in lower range. USD/JPY is undermined by the broadly weaker USD undertone (ICE spot dollar index last 85.76 versus 86.69 early Monday) as investors bet that the Federal Reserve will be patient in raising interest rates after focusing on the small amount of wage inflation in Friday's strong U.S. jobs report, and took profits on long-USD positions. USD/JPY is also weighed by the lower U.S. Treasury yields (10-year at 2.419% versus% 2.447% late Friday), Japan exporter sales and diminished investor risk appetite (VIX fear gauge rose 6.25% to 15.46, S&P 500 closed 0.16% lower at 1,964.82 overnight). But USD/JPY losses are tempered by the demand from Japan importers. Daily chart is tilting negative as MACD and stochastics are bearish, five-day moving average is staging bearish crossover against 15-day MA.

Technical comment:
Daily chart is negative-biased as MACD and stochastics is in bearish mode,bearish parabolic stop-and-reverse signal was hit on Thursday.

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 107.95. A break of this target will move the pair further downwards to 107.65. The pivot point stands at 108.80. In case the price moves in the opposite direction and bounces back from the support level, then it will move 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 109.25 and the second target at 109.55.

Resistance levels:

109.25

109.55

110

Support levels:

107.95

107.65

107.35

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Technical analysis of GBP/JPY for October 07, 2014 Market Analysis Review

Fundamental Overview:

GBP/JPY to trade in lower range. Supported by rebounding GBP/USD and by sterling sales on cross trades versus major currencies, receding investor risk appetite and demand from the Japan importers. But GBP/JPY gains are tempered by soft USD/JPY undertone and Japan exporter sales.

Technical Comment:
Daily chart is mixed as MACD is bearish, five-day moving average is below 15-day MA and is declining, but stochastics is turning bullish at oversold zone.

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 173.50. A break of this target will move the pair further downwards to 172.95. The pivot point stands at 175.15. 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 176 and the second target at 176.65.

Resistance levels:

176

176.65

177.10

Support levels:

173.50

172.95

172.50

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Daily analysis of Silver for October 07, 2014 Market Analysis Review

Overview

Based on the 4H chart above, silver is still stabilizing between the support level of 17.00 and the resistance level of 17.30 after it rebounded from the resistance level of 17.50 yesterday. If silver keeps its bearish move and manages to break the support level of 17.00, it would provide a strong indicator for the downward move and open the way towards the support level of 17.75. In this case, we should wait for the breakout of this level to continue the bearish move. On the other hand, the breakout of this resistance level will denote a bullish strength providing new buy signals from this level till reaching the resistance level of 17.50, then 17.75.

Resistance and support levels: R3 (17.75), R2 (17.50), R1 (17.30), S1 (17.00), S2 (16.75), S3 (16.50)

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Intraday technical levels and trading recommendations on EUR/USD for October 7, 2014 Market Analysis Review

Several congestion zones were established at meeting the downtrend line around price levels of 1.3800, 1.3580 and 1.3335 before further bearish decline took place.

The recent bearish slide below 1.2870 invalidated the previous attempt of bullish reversal. Thus, bearish decline towards 1.2680 and 1.2570 took place shortly after achieving the projection targets of the recent flag pattern.

Careful monitoring of price action around the current price levels is essential to determine the next destination of the EUR/USD pair.

The EUR/USD pair looked oversold and was trading beyond the lower limit of the channel.

Yesterday and earlier today, some bullish recovery is being expressed to push towards 1.2650 ( limit of the breached channel ).

The current short-term bearish trend remains intact as long as the bears keep defending the price zone around 1.2870 (the recent consolidation zone).

The bearish slide below 1.2820 invalidated the possibility of a short-term bullish reversal.

Careful watching of price action around the current price levels is essential to determine the next destination of the EUR/USD pair.

Recommendation :

A conservative trader should wait for daily closure again inside the channel to look for long positions.

In case the bulls initiate a corrective movement around the lower limit of the channel being breached today, the first target levels to be visited should be located around 1.2870 and 1.2940 where the upper limit of the channel and significant Fibonacci level are located.

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Elliott wave analysis of EUR/JPY for October 7 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 137.76

R2: 137.64

R1: 137.44

Current spot: 136.96

S1: 136.86

S2: 136.60

S3: 136.36

Technical summary:

We are still lock inside a narrow falling channel, but ideally support at 136.87 will protect the downside for a break above minor resistance at 137.76 and more importantly a break above 139.13, which will confirm a new test of the 141.22 top on the way higher to 143.79. At this point, the risk is obviously support at 136.87 and a break below here would call for a third zig-zag correction towards important support at 135.80. Support at 135.80 has to protect the downside to keep the bullish count alive.

Trading recommendation:

We are long EUR from 137.75 with stop and revers in place at 136.85. If you are not long EUR yet, then buy a break above 137.76 with the same stop. If support at 136.87 is broken, then sell EUR with a stop at 137.80 and take profit at 135.85.

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Gold analysis for October 07, 2014 Market Analysis Review

Overview:

Since our last analysis, gold has been trading upwards. The price tested the level of 1,212.40. Our Fibonacci retracement 61.8% at the price of 1,207.00 held successful, which is a sign that buying gold at this stage looks risky. According to the daily chart, we can observe demand in a volume below the average. According to previous price action, we got resistance level at the price of 1,204.00 (swing low like resistance). According to Fibonacci expansion, first down station may be around the price of 1,189.00 (Fibonacci expansion 61.8%). Any l arger supply in a high volume may confirm further bearish movement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,217.04

R2: 1,.226.77

R3: 1,243.64

Support levels

S1: 1,190.44

S2: 1,173.57

S3: 1,163.54

Trading recommendations: Buying still looks risky since our Fibonacci retracement 61.8% held successful

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Technical analysis of EUR/USD for October 7, 2014 Market Analysis Review

Overview and trading recommendations :

• The EUR/USD pair is in the long term.


• The price of the EUR/USD pair is going to continue its bearish sentiment from the level of 1.2653 (the weekly resistance 1). Accordingly, it will be a good sign to sell below 1.2653 with the first target of 1.2576 to test a minor support at this price which coincides with the weekly pivot point. Also, it will call for a downtrend in order to continue its bearish movement towards 1.2495. The level of 1.2495 is the lowest point since 26/8/2012. At the same time, the stop loss should be placed above 1.2575 at the price of 1.2590. Equally important, the support will set around the double bottom 1.2500 level. Additionally, it should be noted that the range today will be about 125 pips.

Weekly technical levels :

• R3: 1.2867


• R2: 1.2790


• R1: 1.2653


• PP: 1.2576


• S1: 1.2439


• S2: 1.2362


• S3: 1.2225

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 up to 250 145 pips this week.


• The key level is seen set at the level of 1.2575.

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Technical analysis of USD/CHF for October 7, 2014 Market Analysis Review

Overview :

• The USD/CHF pair is going to set strong support at the level of 0.9550 which represents the weekly support 1. Equally important, the price is still moving between 0.9565 and 0.9615 (the weekly pivot point on October 7, 2014). Also, the USD/CHF pair has still been above 38.2% of Fibonacci retracement levels for a while. As a result, the price has already formed the strong support at this level of 0.9550 and it is going to come around it in order to test it. Therefore, the USD/CHF pair will get a upside momentum rather convincing and the structure of the fall does not look corrective, for indicating a bullish opportunity above the the weekly support 1 level (0.9550). It will be a good sign to buy above this level with a first target of 0.9615 (this level is coinciding with the weekly pivot point this week) and it will call for an uptrend in order to continue bullish towards 0.9683. Additionally, the price of 0.9683 would form the double top. Moreover, the range of USD/CHF pair will be about 190 pips this week. On the other hand, the stop loss should always be taken into account, thus it will of the sagacity to set your stop loss at the price of 0.9505.

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Technical analysis of EUR/JPY for October 7, 2014 Market Analysis Review

General overview for 07/10/2014 10:20

The market keeps trading in very narrow range zone between the levels of 136.86 - 1137.94 and only a clear breakout either up or down will give more clues about further wave progression. Please note that despite the bottom for wave B, the market still did not really developed any impassive progression to the upside and this might turn our short-term bias to more bearish one. Support/Resistance:

136.86 - Intraday Support | Wave B Low|

137.68 - Weekly Pivot

137.93 - Intraday Resistance

138.45 - WR1

138.97 - 139.15 - Demand Breakthrough Zone

Trading recommendations:

Market range trading still did not change the outlook and daytraders should pay attention to the mentioned key level as any breakout higher would provide a great opportunity for a buy side trade with SL below the level of 136.85.

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#USDX technical analysis for October 7, 2014 Market Analysis Review

The Dollar index has broken short-term support and is showing signs of a possible trend reversal. The critical support at 85.50 was challenged yesterday but the daily close did not find the index below that support area. The index is in a short-term down trend that is now testing support at 85.50 and 85.

Green line = price channel

The Dollar index remains in a long-term up trend despite the strong reversal from yesterday. Price is still inside the upward sloping channel and above the Ichimoku cloud. However there are some indications that a break below 85 will signal the start of a bigger downward correction.

The 1st important support level below 85.50 which is the short-term support, is the 85.08 level where the 23.8% retracement of the rise from 79.75 is found. Next important support is the 38% Fibonacci retracement at 84.10. A break below 85 will confirm the bearish reversal towards 84.

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Gold Technical analysis for October 7, 2014 Market Analysis Review

Gold price has bounced strongly yesterday above $1,200 and has now reached the important downward sloping channel boundaries at $1,213. Trend remains bearish in the longer-term as price is below the Ichimoku cloud. Our longer-term view remains bearish as long as price is below $1,233.

Blue line= support

Green line= price channel

Gold price is testing the downward sloping channel. Just above the upper channel boundaries is the Ichimoku cloud resistance. So the area between $1,213 and $1,222 is strong short-term resistance. Support is found at $1,180 and I still expect this level to be challenged once again.

Blue line = support

In the short-term chart as shown above, important short-term support levels are the $1,202.50 level from the horizontal support trend line, and the $1,206 level from the upward sloping blue trend line. Breaking those two support trend lines will confirm that bears are again back in control and that a new lower low below $1,180 should be expected.

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