Technical analysis of GBP/JPY for October 13, 2014 Market Analysis Review

In the previous session, the pair finally broke the 50 and 100Dsma and closed below those levels. In the weekly chart, the pair broke the 20Wsma and closed below this as well. On the down side the pair has support at 172.00 200Dsma, 171.60, the 80% fib level, 171.00 and 170.60 200Dema levels. In the near and short term, the support zone is between 171.00 and 170.60 levels. In case if this week it closes below 171.00, we can expect strong sell-offs again towards 169.50. In case if the pair closes below the base of the ascending triangle, we can expect another free fall in the short and medium term. The pair has resistance at 173.45 20Wsma and 173.75. Until the price closes below 173.75, use every rise to sell.

Support: 172.00, 171.00, 170.60.

Resistance: 173.35, 173.75, 174.24.

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Technical analysis of EUR/JPY for October 13, 2014 Market Analysis Review

After 3 days of range bound trading, the pair finally was sold off during Friday's session. The pair pushed to the bottom of the triangle in the weekly chart. The pair has support at 135.35, below this, we can expect a free fall towards the downside target at 134.50 and 134 levels. As we recommended in our earlier articles, sellers will mint the money. Now our take is start selling again only below 135.35 20Msma. For an intraday session, traders use sl 135.35 and buy a cmp 135.66 for targets at 136.00 and 136.40. On a positional basis in the near term, use every rise to sell.

Support: 135.50, 135.35, 134.50.

For an intraday view, the prices are closed far below the hourly key moving averages. The strong support zone is between 135.50, the base of the triangle, and 135.35 20Msma. We expect before further sell-off, the pair to hold these support levels and change its direction for a small pullback towards 136.45 and 137.00. Until the prices closes below 137 on h4 chart, bears will have an upper hand.

·The base of the symmetric triangle helps the pair. Breaks below 135.50-135.35 trigger panic.

·It has been trading below the short- and medium-term moving averages

·Trading in downward trend line

Trade-

Buy at cmp 135.66, sl 135.35, target is 136 and 136.40.

Sell below 135.35 with targets at 134.50 and 134.10.

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Technical analysis of EUR/USD for October 13, 2014 Market Analysis Review

When the European market opens, there will be released a German WPI m/m. The US will not release any economic data, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2700.

Strong Resistance:1.2692.

Original Resistance: 1.2680.

Inner Sell Area: 1.2668.

Target Inner Area: 1.2638.

Inner Buy Area: 1.2608.

Original Support: 1.2596.

Strong Support: 1.2584.

Breakout SELL Level: 1.2576.

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 October 13, 2014 Market Analysis Review

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

TODAY TECHNICAL LEVELS:

Resistance. 3: 107.61.

Resistance. 2: 107.42.

Resistance. 1: 107.23.

Support. 1: 106.99.

Support. 2: 106.80.

Support. 3: 106.60.

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 forecast and intraday analysis of EUR/USD for October 13-17, 2014 Market Analysis Review

Weekly key economic data-

The pair has some important key events this week. Traders eye Tuesday's German Zew Economic sentiment. This index has been falling for 9 months. In September it came in at 6.9. Again, we expect a downfall in this index. The industrial production data will be released on Tuesday as well, we expect another downfall. On Wednesday the Draghi speech and German final CPI data are set for release.

Weekly forecast

The pair made a minor double bottom at 1.2501 and faced strong resistance at the 61.8 fib level in the weekly chart at 1.2791 levels. In the daily chart, the pair breached the 20Dsma on an intraday basis, but failed to close above that. In case, if the pair closes above 20Dsma, the weekly trend turns positive until bears have an upper hand. For a weekly basis, the pair has resistance at 1.2715 and 1.2735, above these, 1.30 50Dsma will act as strong resistance. On the down side, 1.26 and 1.2570 will be minor support levels. 1.25 will act as a key support level, below this, we can expect a free fall to 1.22 200Msma levels.

Recommendation- for an intraday view, the prices have been trading below the hourly key moving averages 12ema and 21hrsma. The pair is facing strong resistance at 1.2650, a 8hr high, above this, 1.2680 (21hrsma) is acting as a strong resistance level. In the h4 chart, the support region is between 1.2580 and 1.26. At the current market price of 1.2626 we recommend buying for an hourly target at 1.2680, 1.27, 1.2710 and 1.2720 levels. We recommend selling below 1.26 for targets at 1.2584, 1.2570, and 1.2540 levels.

Trade- Buy at cmp 1.2626

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Technical analysis on USD/CAD for October 13, 2014 Market Analysis Review

The pair has been facing strong resistance between 1.1279 and 1.1270, facing selling pressure whenever the pair tries to breach this zone. In the previous week, the pair held the support at 20Dsma, bounced from 1.1082, and closed above a 4-day high in last Friday's session. Today the pair opened on a strong bullish note, opened lower at 1.1179 levels. On the upper side, the initial resistance is at 1.1211 and 1.1225, above this, 1.1245 and 1.1265 will act as trend decider levels.

Resistance 1.1211, 1.1225, 1.1245-1.1265

Support 1.1160, 1.1111, 1.1050

For an intraday view, the prices are closed above the hourly key moving averages. Even though the pair opened on a bullish note it is facing resistance at 1.1211. We can observe a hns pattern in the h4 chart. The level of 1.1223 is the left shoulder and 1.1220 is the right shoulder. The trading pattern is framed between 1.1223 and 1.1157 levels. In case if the pair breaches the upside resistance at 1.1223, we can see fresh buying on an hourly basis. On the down side, if the pair breaks below 1.1155, we can see a 50-70 immediate fall, but panic will be triggered only below the neck line.

Trade-

Safe buyers, buy above 1.1223.

Risky traders, buy at cmp sl 1.1179, target is at 1.1220, 1.1245 and 1.1279.

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Daily analysis of USDX for October 13, 2014 Market Analysis Review

The USDX continues to recover above the support level of 85.18, as this instrument is trying to finish forming a bullish pattern that has been developing for several days. On the upside, the USDX may find resistance at the level of 86.20, as the USDX formed a fractal above that level. The USDX is far from the 200 SMA and the MACD indicator is moving into negative territory.

Dailychart's resistance levels: 86.20 – 87.35

Dailychart's support levels: 85.18 – 84.29

As we can see in the H1 chart, the USDX is consolidating back above the support level of 85.73, where the 200 SMA is located. The USDX formed a fractal at the resistance level of 85.95 so far, this instrument may enter in a phase of consolidation in the short term. The MACD indicator is entering overbought area.

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 13, 2014 Market Analysis Review

The GBP/USD continues to weaken in the daily chart, because this pair has found support at the 1.6046 level. If the GBP/USD manages to consolidate below this level, it would be expected to fall to the support level of 1.5883 in the long term. It would be a bearish consolidation below the fractal which formed days ago. However, it is likely that the GBP/USD will start performing corrective movements. The MACD indicator is entering neutral territory.

Dailychart's resistance levels: 1.6146 – 1.6235

Daily chart's support levels: 1.6046 - 1.5883

On the H1 chart, GBP/USD made a sharp drop to the support level of 1.6031, where the pair performed a rebound and later found resistance at the 1.6075 level. Now, the GBP/USD is trying to form a lower low pattern to strengthen the bearish trend in the short term. In addition, the GBP/USD that still remains below the 200 SMA.

H1 chart's resistance levels: 1.6075 – 1.6117

H1 chart's support levels: 1.6031 – 1.5980

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 1.6031, take profit is at 1.5980, and stop loss is at 1.6083.

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USDCAD Daily Analysis - October 13, 2014 Forex Analysis

USDCAD stays in a trading range between 1.1071 and 1.1269. As long as 1.1071 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.0810 (Aug 29 low), another rise towards 1.1500 could be expected after consolidation. Only break below 1.1071 support could signal completion of the uptrend.

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USDCHF Daily Analysis - October 13, 2014 Forex Analysis

USDCHF's downward movement from 0.9687 extended to as low as 0.9468. Further decline would likely be seen, and next target would be at 0.9400 area. Key resistance is at 0.9687, only break above this level will indicate that the uptrend from 0.8997 (Aug 15 low) has resumed, then next target would be at 0.9900 area.

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USDJPY Daily Analysis - October 13, 2014 Forex Analysis

USDJPY's downward movement from 110.08 extended to as low as 107.07. Further decline is still possible, and next target would be at 106.50 area. Resistance is at 108.20, only break above this level will indicate that the downward movement is complete, then the following uptrend could bring price back to test 110.08 resistance.

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AUDUSD Daily Analysis - October 13, 2014 Forex Analysis

AUDUSD is facing 0.8642 support, a breakdown below this level will signal resumption of the downtrend from 0.9401, then next target would be at 0.8400 area. However, as long as 0.8642 support holds, sideways movement could be expected to continue, and the trading range would be between 0.8642 and 0.8898.

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GBPUSD Daily Analysis - October 13, 2014 Forex Analysis

GBPUSD is now in uptrend from 1.5951, the fall from 1.6226 could be treated as consolidation of the uptrend. Further rise would likely be seen, and next target would be at 1.6350 area. Key support is at 1.5951, only break below this level will indicate that the downtrend from 1.7190 (Jul 15 high) has resumed, then next target would be at 1.5600 area.

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EURUSD Daily Analysis - October 13, 2014 Forex Analysis

EURUSD is now in uptrend from 1.2500, the fall from 1.2791 is likely correction of the uptrend. Key support is at 1.2500, as long as this level holds, the uptrend could be expected to resume, and one more rise to 1.2850 area to complete the upward movement is possible. On the downside, a breakdown below 1.2500 will indicate that the downtrend from 1.3700 (Jul 1 high) has resumed, then next target would be at 1.2200 area.

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