Technical analysis of EUR/JPY for October 29, 2014 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair is inching towards its first measured extension levels at 138.00 and 138.70/80 levels respectively, as seen on the 4H chart view here. Resistance is just around the current price action at 138.00, followed by 139.00 and higher, while support is 136.50, followed by 135.00 and lower respectively. Please note that the pair has bounced off the confluences of fibonacci 0.618 and resistance turned support trend line earlier (around 135.20 levels). It is still recommended to hold long positions, risk remains just below 135.00.

Trading recommendations:

Remain long, move stop to 136.50, target is 138.70.

Good luck!

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/JPY for October 29, 2014 . Thanks for your support.

Technical analysis of GBP/CHF for October 29, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair reverses from 1.5310/20 levels, defined as resistance (fibonacci 0.618) as depicted here on the 4H chart view. A follow through is required through the 1.5200 break, to confirm and accelerate further downside. Please note that the pair has turned back from confluence of past support turned resistance and fibonacci 0.618 at 1.5320 levels. Resistance is seen at 1.5420/50 levels, followed by 1.5550, while support is seen at 1.5200 levels, followed by 1.4975 and lower respectively. It is recommended to remain short here, risk remains above 1.5450 at least. On the flip side now, a push through 1.5350 levels could delay matters further.

Trading recommendations:

Remain short, set stop above 1.5450, target is open.

Good luck!

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 GBP/CHF for October 29, 2014 . Thanks for your support.

Technical analysis of Silver for October 29, 2014 Market Analysis Review

Technical outlook and chart setups:

Silver rallied through $17.40 region yesterday before pulling back into the support zone around $17.10/20 levels as seen in the 4H chart view presented here. Bulls are expected to remain in control till prices remain above $16.60/70 levels. The metal could be targeting $18.20/50 levels for now. Support is seen at $17.00, followed by $16.60 and lower, while resistance is seen at $18.00, followed by $18.50 and higher respectively. Having produced an engulfing bullish reversal pattern on October 06, 2014, the metal is expected to rally at least till $18.50 levels, if not higher.

Trading recommendations:

Remain long, set stop at $16.40, target is $18.50.

Good luck!

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 Silver for October 29, 2014 . Thanks for your support.

Technical analysis of Gold for October 29, 2014 Market Analysis Review

Technical outlook and chart setups:

The 4H chart view presented here indicates that Gold could still dip towards $1,210.00 levels before resuming rally. As seen here, the $1,210.00 level is fibonacci 0.618 support of the rally between $1183 and $1,255.00. Furthermore it is also the extension of the drop from $1,255.00 to $1,225.00/26.00 levels. Support is seen at $1,205.00, followed by $1,183.00, while resistance is seen at $1,255.00 (interim), followed by $1,275.00 and higher respectively. It is recommended to look to enter buying around $1,210.00 levels as a safe trading strategy. On the flip side, the metal is expected to face resistance around $1,240.00 levels, if a rally is materialized from current levels. An aggressive trade strategy cold be to initiate short positions there. ($1,240.00).

Trading recommendations:

Short around $1,240.00 if the metal rallies from current levels, set stop above $1,255.00, target is $1,210.00. OR Initiate long positions after a dip at $1,210.00 levels.

Good luck!

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 Gold for October 29, 2014 . Thanks for your support.

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

When the European market opens, some economic news will be released such as German 10-y Bond Auction. The US will release economic data too such as the Crude Oil Inventories, FOMC Statement, Federal Funds Rate, so amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2799.

Strong Resistance:1.2791.

Original Resistance: 1.2779.

Inner Sell Area: 1.2767.

Target Inner Area: 1.2737.

Inner Buy Area: 1.2707.

Original Support: 1.2695.

Strong Support: 1.2683.

Breakout SELL Level: 1.2675.

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 29, 2014 . Thanks for your support.

Technical analysis of USD/JPY for October 29, 2014 Market Analysis Review

In Asia, Japan will release the Prelim Industrial Production m/m and the US will release some economic data such as Crude Oil Inventories, FOMC Statement, Federal Funds Rate. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with medium to high volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 108.65.

Resistance. 2: 108.44.

Resistance. 1: 108.23.

Support. 1: 107.96.

Support. 2: 107.75.

Support. 3: 107.54.

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 29, 2014 . Thanks for your support.

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

On the daily chart the USDX is trying to find support at the level of 85.18, even though the instrument remains strong in our current bullish outlook. However, the USDX has formed four fractals at the resistance level of 86.20. The USDX could make a breakout at the support level of 85.18 to fall to the level of 84.29. The MACD indicator remains in negative territory.

Daily chart's resistance levels: 86.20/87.35

Daily chart's support levels: 85.18/84.29

The USDX is trying to form a lower low pattern below the 200 SMA on the H1 chart. However, the USDX is finding strong support at the 85.27 level, a level that could serve as a strong support zone for the USDX to consolidate again above the 200-day moving average, but the next target in the bearish trend remains the 85.03 level.

H1 chart's resistance levels: 85.49 / 85.73

H1 chart's support levels: 85.27 / 85.03

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 85.27, take profit is at 85.03, and stop loss is at 85.49.

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 Daily analysis of USDX for October 29, 2014 . Thanks for your support.

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

The GBP/USD has made a pullback to the 200-day moving average, which is near the resistance level of 1.6183 on the H1 chart, so it is very likely that this pair will fall back to the support level of 1.6051. The GBP/USD has formed a fractal at 200 SMA so the bullish road could lose momentum in the coming hours, and this pair has not finished forming the bullish pattern. The MACD indicator is entering neutral territory.

H4 chart's resistance levels: 1.6183/1.6226

H4chart's support levels: 1.6051/1.6004

On the H1 chart, GBP/USD made a strong pullback at the resistance level of 1.6170, although the pair remains above the support level of 1.6117. This could mean that the GBP/USD is still very much bullish force and is likely to go up again to the resistance level of 1.6170. However, caution should be exercised, because the MACD indicator is moving into negative territory.

H1 chart's resistance levels: 1.6170 / 1.6216

H1 chart's support levels: 1.6117 / 1.6075

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6170, take profit is at 1.6216, and stop loss is at 1.6127.

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 Daily analysis of GBP/USD for October 29, 2014 . Thanks for your support.

USDCAD Daily Analysis - October 29, 2014 Forex Analysis

USDCAD's downward movement from 1.1385 extended to as low as 1.1163. However, the fall would possibly be consolidation of the uptrend from 1.0810 (Aug 29 low), another rise to 1.1500 is still possible after consolidation. Resistance is at 1.1265, a break of this level could signal resumption of the uptrend.

For more short term forex analysis and info visit via USDCAD Daily Analysis - October 29, 2014 . Thanks for your support.

USDCHF Daily Analysis - October 29, 2014 Forex Analysis

USDCHF remains in uptrend from 0.9370, the fall from 0.9557 is likely consolidation of the uptrend. Another rise to test 0.9687 resistance is still possible after consolidation. Support levels are at 0.9420 and 0.9370, only break below these levels could trigger another fall to 0.9300 zone.

For more short term forex analysis and info visit via USDCHF Daily Analysis - October 29, 2014 . Thanks for your support.

USDJPY Daily Analysis - October 29, 2014 Forex Analysis

USDJPY remains in uptrend from 105.32, the fall from 108.34 is likely consolidation of the uptrend. Key support is now at 107.60, as long as this level holds, the uptrend could be expected to continue, and next target would be at 109.50 area. On the downside, a breakdown below 107.60 support will indicate that the uptrend had completed at 108.34 already, then deeper decline to 106.50 area could be seen.

For more short term forex analysis and info visit via USDJPY Daily Analysis - October 29, 2014 . Thanks for your support.

AUDUSD Daily Analysis - October 29, 2014 Forex Analysis

AUDUSD is facing 0.8898 resistance, a break of this level will indicate that the downtrend from 0.9401 (Sept 5 high) had completed at 0.8642 already, then further rise to 0.9000 area could be seen. On the downside, as long as 0.8898 resistance holds, the price action in the trading range between 0.8642 and 0.8898 could be treated as consolidation of the downtrend, another fall to 0.8400 area is still possible.

For more short term forex analysis and info visit via AUDUSD Daily Analysis - October 29, 2014 . Thanks for your support.

GBPUSD Daily Analysis - October 29, 2014 Forex Analysis

GBPUSD is facing 1.6226 resistance again, a break of this level will indicate that the downtrend from 1.6524 had completed at 1.5874 already, then further rise to 1.6400 area could be seen. On the downside, as long as 1.6226 resistance holds, the price action from 1.5951 would possibly be consolidation of the downtrend, another fall to 1.5600 area is still possible after consolidation.

For more short term forex analysis and info visit via GBPUSD Daily Analysis - October 29, 2014 . Thanks for your support.

EURUSD Daily Analysis - October 29, 2014 Forex Analysis

EURUSD remains in downtrend from 1.2867, the rise from 1.2613 is likely consolidation of the downtrend. Another fall to test 1.2500 is still possible after consolidation, a breakdown below this level will signal resumption of the longer term downtrend from 1.3700 (Jul 1 high), then next target would be at 1.2200 area. Resistance levels are at 1.2800 and 1.2867, only break above these levels could trigger another rise to 1.3000 area.

For more short term forex analysis and info visit via EURUSD Daily Analysis - October 29, 2014 . Thanks for your support.

Intraday technical levels and trading recommendations on GBP/USD for October 28, 2014 Market Analysis Review

A Shooting Star daily candlestick occurred previously around 61.8% - 50% Fibonacci levels. A valid SELL position was suggested then and it got triggered few days later. The market successfully pushed below 1.6100 shortly after.

Bullish rejection was once expressed when the market pushed below 1.6100 and 1.6060 on September 9. However, another bearish leg was expressed below 1.6060 during the current month.

On the other hand, the price zone of 1.6100-1.6140 constituted a prominent SUPPLY zone where considerable bearish pressure was applied on the pair.

On Wednesday, bullish recovery was expressed off 1.5880. Bullish engulfing daily candlestick is depicted on the chart. Bullish targets were located around the price zone of 1.6130-1.6180 ( already reached ).

Bullish breakout off the depicted bearish channel is apparent on the daily chart. A bullish corrective move towards 1.6300 may occur as long as bulls keep moving above the upper limit of the channel.

Breakout above price level of 1.6140 ( being tested today ) is essential to confirm this suggested position. Otherwise, the pair remains under bearish pressure to revisit 1.5880 at least.

4H chart reveals long period of downside movement roughly maintained within the limits of the depicted channel.

This week, bulls managed to push beyond the upper limit of the channel as well as previous broken bottom (probably now acting as resistance).

The GBP/USD pair remains trapped between the backside of the channel (1.6020) and price level of 1.6140.

Breakout in either direction is necessary to take a position in the same direction of breakout ( bullish breakout is more anticipated ).

A BUY entry was suggested around 1.6010-1.6020. It's running in profits now. Stop Loss should be located at 1.5980.

A higher risk entry is suggested after fixation above 1.6140-1.6180 takes place. Bulls have been trying to do so for the past couple of days without success yet.

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 Intraday technical levels and trading recommendations on GBP/USD for October 28, 2014 . Thanks for your support.

Technical analysis of USD/JPY for October 28, 2014 Market Analysis Review

Fundamental overview:

USD/JPY is expected to consolidate in a higher range. USD/JPY is undermined by the weaker dollar sentiment (ICE spot dollar index last 85.57 versus 85.69 early Monday) on smaller-than-expected +0.3% on-month increase in U.S. September pending home sales index (versus forecast +1.0%). USD/JPY is also weighed by the lower U.S. Treasury yields (10-year at 2.258% versus% 2.273% late Friday), Japan's export sales, unwinding JPY-funded carry trades amid diminished investor risk appetite as U.S. stocks closed mixed overnight (S&P 500 fell 0.15%, DJIA gained 0.07%) as a disappointing business confidence report from Germany raised concerns over the growth outlook in the eurozone, while caution prevailed ahead of Wednesday's policy announcement from the Federal Reserve. But USD/JPY losses are tempered by the demand from Japan's importers and ultra-loose Bank of Japan monetary policy.

Technical comment:
Daily chart is mixed as stochastics is bullish, five-day moving average is above 15-day MA and advancing but MACD is still in a bearish mode.

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 108.35 and the second target at 108.75. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 107.35. A break of this target would push the pair further downwards and one may expect the second target at 107.05. The pivot point is at 107.55.

Resistance levels:

108.35

108.75

109

Support levels:

107.35

107.05

106.75

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 28, 2014 . Thanks for your support.

EUR/NZD analysis for October 28, 2014 Market Analysis Review

Overview:

In our last analysis, EUR/NZD has been trading downwards. The price tested the level of 1.6023 in a high volume. Our Fibonacci expansion 100% at the price of 1.6050 held successfully, so be careful when selling EUR/NZD at this stage. According to the 4H time frame, we can observe good rejection from our support, which is a sign that selling looks risky. We also got Fibonacci retracement 61.8% at the price of 1,6015 (almost got tested). Be careful when selling EUR/NZD since we may see further upward movement. Watch for potential buying opportunities after retracement.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.6140

R2: 1.6158

R3: 1.6189

Support levels:

S1: 1.6079

S2: 1.6061

S3: 1.6031

Trading recommendations: Be careful when selling the EUR/NZD pair since our Fibonacci retracement 38.2% is on the test

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 EUR/NZD analysis for October 28, 2014 . Thanks for your support.

Technical analysis of USD/CHF for October 28, 20142 Market Analysis Review

Fundamental overview:

USD/CHF is expected to trade with risks skewed lower. It is undermined by the weaker dollar sentiment (ICE spot dollar index last 85.57 versus 85.69 early Monday) on smaller-than-expected +0.3% on-month increase in U.S. September pending home sales index (versus forecast +1.0%). But USD/CHF losses are tempered by the dovish Swiss National Bank's monetary policy.

Technical comments:

Daily chart is mixed as MACD is bearish, but stochastics is in a bullish mode.

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 0.9560 and the second target at 0.9590. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9465. A break of this target would push the pair further downwards and one may expect the second target at 0.9435. The pivot point is at 0.9500.

Resistance levels:

0.9560

0.9590

0.9625



Support levels:

0.9465

0.9435

0.9390

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/CHF for October 28, 20142 . Thanks for your support.

Technical analysis of NZD/USD for October 28, 2014 Market Analysis Review

Fundamental overview:

NZD/USD is expected to trade in a higher range. It is supported by the weaker dollar sentiment (ICE spot dollar index last 85.57 versus 85.69 early Monday) on smaller-than-expected +0.3% on-month increase in U.S. September pending home sales index (versus forecast +1.0%), Kiwi demand on soft AUD/NZD cross and NZD-USD interest differential. But NZD/USD gains are tempered by the waning investor risk appetite.

Technical comment:

Daily chart is mixed as MACD is bullish but stochastics is in a bearish mode, 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 0.7955 and the second target at 0.7990. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 10.7840. A break of this target would push the pair further downwards and one may expect the second target at 0.7805 The pivot point is at 0.7880.

Resistance levels:

0.7955

0.7990

0.8035



Support levels:

0.7840

0.7805

0.7775

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 NZD/USD for October 28, 2014 . Thanks for your support.

Gold : analysis for October 28, 2014 Market Analysis Review

Overview:

Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of 1,235.40 in a volume above average. Since our submajor Fibonacci retracement 38.2% at the price of 1,227.00 held successful, that action led the price to start upward movement. According to the daily time frame, we can observe supply in a volume below average. I have placed Fibonacci retracement to find resistance levels and I got Fibonacci retracement 38.2% at the price of 1,234.85 (currently on the test) and Fibonacci retracement 61.8% at the price of 1,242.00. If the price breaks the level of 1,234.00 in a high volume and healthy price action , we may see testing the level of 1,242.00. Anyway, if we see larger reaction from sellers aroud our resistance, a bearish phase will be possible.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,231.51

R2: 1,233.13

R3: 1,235.77

Support levels

S1: 1,226.23

S2: 1,224.61

S3: 1,221.97

Trading recommendations: Selling gold at this stage still looks risky since we got strong demand in the background.

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 Gold : analysis for October 28, 2014 . Thanks for your support.

Technical analysis of GBP/JPY for October 28, 2014 Market Analysis Review

Fundamental overview:

GPB/JPY is expected to consolidate in a higher range. But GBP/JPY gains are tempered by the decreased investor risk appetite. GBP/JPY is also weighed by Japan's export sales, unwinding JPY-funded carry trades amid diminished investor risk appetite as U.S. stocks closed mixed overnight (S&P 500 fell 0.15%, DJIA gained 0.07%) as a disappointing business confidence report from Germany raised concerns over the growth outlook in the eurozone.

Technical comment:

Daily chart is still positive-biased as MACD and stochastics are bullish, five-day moving average is rising above 15-day MA.

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 174.95 and the second target at 175.90. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 172.55. A break of this target would push the pair further downwards and one may expect the second target at 171.75. The pivot point is at 173.30.

Resistance levels:

174.95

175.90

176.75

Support levels:

172.55

171.75

171

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 GBP/JPY for October 28, 2014 . Thanks for your support.

Technical analysis of USD/CHF for October 28, 2014 Market Analysis Review

Intraday trading recommendations :

• According to the previous events, the price of the USD/CHF pair has still been trapped between 0.9520 and 0.9424.


• The level of 0.9491 represents the weekly pivot point. It should be noted that the weekly pivot point coincides with the ratio of 61.8% Fibonacci retracement levels.


• So, sell below 0.9491 in the short term with the first target of 0.9491 in order to test the first support, it might resume to 0.9397 (the double bottom) if the trend will be able to break the double top at weekly support 1.


• The stop loss should never exceed your maximum exposure amounts. Thus, it will be quite profitable to set your stop loss at the level of 0.9540.

Review :

• The first resistance of USD/CHF pair is projected at the level of 0.9491 today.


• The second resistance had already fixed at 0.9525.


• The area of 0.9491 is a useful area to sell in the long term this week.


• We expect a range of 70 pips on October 28, 2014.


• Volatility: 251.85. As a rule, the market is highly volatile if the last day had a huge volatility.


• 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, the market price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.

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/CHF for October 28, 2014 . Thanks for your support.

Technical analysis of EUR/USD for October 28, 2014 Market Analysis Review

Overview :

• EUR/USD: The levels of 1.2801 will indicate strong resistance on October 28, 2014. Moreover, we expect that the level of 1.2839 is going to form a double top at this spot in H1 chart. On the other hand, the minor support has set at the price of 1.2666 and the major support is going to set at 1.2613. Also, it might be noticed that the double bottom is going to place at the price of 1.2613. Furthermore, according to the previous events, the EUR/USD pair is still moving between the levels 1.2666 and 1.2753. Consequently, it will be wise to sell at the area of 1.2800 or 1.2840 with the first target at 1.2707 (the weekly pivot point) in coming hours. Do it another way, the stop loss should be placed above the level of 1.2840. Consequently, it will be very beneficial if you set your stop loss at the 1.2864 price.
  

Notes :

• The double top will set at the level of 1.2839.


• The major support is going to set at 1.2613.


• The minor support has set at the price of 1.2666.


• The price had only hit the weekly pivot point this week.


• We expect a range of 84 pips today.

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 28, 2014 . Thanks for your support.

Technical analysis of GBP/USD for October 28, 2014 Market Analysis Review

Overview :

• The price of the GBP/USD pair is going to turn to a bullish sentiment from the level of 1.6089; because if the trend is of an upside character, then the strength of the currency will be defined as following: GBP is in uptrend and USD is in downtrend. Additionally, the price of 1.6089 coincides with the weekly pivot point and the ratio of 50% Fibonacci retracement levels in H1 chart. Accordingly, it will be a good sign to buy above the weekly pivot point (1.6089) with the first target of 1.6161 to test a minor resistance at this price. It should be noted that the price of 1.6161 represents the double top. Also, it will call for an uptrend in order to continue its bullish movement towards 1.6183 today. Equally important, the resistance will set at the 1.6183 level. So, it will be very useful to take profit at this area. At the same time, the stop loss should be placed below the double bottom at the price of 1.6080. Furthermore, it should be noted that the range today will be about 72 pips.

Notes :

• The stop loss has set in 48 pips. Consequently, the risk of 72 pips should make a profit of 75 pips.


• Also, it should note that stop loss should never exceed your maximum exposure amounts.

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 GBP/USD for October 28, 2014 . Thanks for your support.

Technical analysis of USD/CAD for October 28, 2014 Market Analysis Review

General overview for 28/10/2014 11:10 CET

Not much has changed in this pair since yesterday as the market is waiting for the FOMC meeting that will be held tomorrow. Currently, the range is getting even more tighter, the important levels are still the same as yesterday and the market is in a waiting mode. Please notice, that because of the range squeeze the breakout might be severe. The bias is still bullish as long as the level of 1.1080 is not broken.

Support/Resistance:

1.1070 - 1.1080 - Demand Zone

1.1128 - WS2

1.1182 - Intraday Support

1.1185 - WS1

1.1240 - Weekly Pivot

1.1262 - Intraday Resistance

1.1293 - Intraday Resistance

1.1296 - WR1

1.1354 - WR2

1.1384 - Swing High

1.1409 - WR3

Trading recommendations:

Traders should wait for an important level breakout and trade accordingly. The first date for that breakout is the FOMC meeting tomorrow.

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/CAD for October 28, 2014 . Thanks for your support.

#USDX Technical analysis for October 28, 2014 Market Analysis Review

The Dollar index remains above short-term support after the bounce from 84.45 towards 86 but the intermediate-term trend is still unclear. As long as we do not break the 86 resistance level, we could still be inside a bigger corrective pattern that could bring us towards 84. Short-term strength signals however point that support at 85.20-85.30 should hold if we are going to break 86 soon.

Black line=resistance

Blue lines= price channel

The Dollar index moves inside an upward sloping price channel but below important resistance level of 86. The Dollar index remains above the Ichimoku cloud in the 4-hour chart, tenkan-sen has crossed above the Kijun-sen and the Chikou span is above the candles. Most Ichimoku cloud indicators are bullish and technically we are still above support of 85.35.

Once again, I point out the weekly chart where a huge bullish flag has been formed and we have seen a break out above it. The target for this bullish flag is at 91 and that is why I remain longer-term bullish from the current levels because the form of the decline has been corrective in nature and has almost reached 38% retracement from the low at 79.75. We could still see a sharp decline towards 84 which is the 38% retracement but I do not believe we will see lower. My strategy is to remain neutral and buy the Dollar index on signs of strength.

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 #USDX Technical analysis for October 28, 2014 . Thanks for your support.

Gold Technical analysis for October 28, 2014 Market Analysis Review

Gold price is breaking below support levels and downtrend resumes after the strong bounce from $1,180 to $1,255. My longer-term view remains bearish targeting $1,050. The short-term trend has changed to bearish as well.

As one can see in the 4-hour chart above, Gold price has broken out and below the Ichimoku cloud support and this confirms that the short-term trend has changed to bearish. In order for the short-term trend to change to bullish again, Gold price needs to break above $1,237 which is the cloud resistance and the Kijun-sen. As the cloud is turning red, this confirms the bearish trend we are currently in. A bounce towards $1,235-57 will not be a surprise for bears, but a break above this level is likely to happen. In any case, a rejection and a daily close below $1,237 continues to put the trend on bears' hands.

Blue line=support

Gold price in the weekly chart above remains fully bearish in Ichimoku cloud terms. Price is below the tenkan-sen and has not managed to close above it for the last 10 weeks. The tenkan-sen weekly resistance is now at $1,235. So, a weekly close above this level could push Gold price towards $1,265. In generall, trend remains down and breaking below support at $1,180 where a triple bottom is formed, will surely push prices much lower towards $1,050. Concluding I remain longer-term bearish in Gold.

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 Gold Technical analysis for October 28, 2014 . Thanks for your support.

Elliott wave analysis of EUR/NZD for October 28 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 1.6160

R2: 1.6132

R1: 1.6107

Current spot: 1.6075

S1: 1.6061

S2: 1.6044

S3: 1.6025

Technical summary:

Now, we have seen the expected test of support at 1.6056 (the low has been 1.6061). Currently, we will be looking for a break above minor resistance at 1.6107 as the first indication, that red wave ii is over, while a break above 1.6160 is needed to confirm, that red wave ii is indeed over and red wave iii higher towards at least 1.6446 is developing. However, as long as minor resistance at 1.6106 is protecting the upside, we will have to allow for a move closer to 1.6056 and maybe even slightly lower to 1.6025, but it's not necessary.

Trading recommendation:

We bought EUR at 1.6065 and has placed our stop at 1.6000. If you are not long in EUR yet, buy minding a break above 1.6107 with the same stop at 1.6000.

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 Elliott wave analysis of EUR/NZD for October 28 - 2014 . Thanks for your support.

Elliott wave analysis of EUR/JPY for October 28 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 137.82

R2: 137.35

R1: 137.21

Current spot: 137.11

S1: 136.90

S2: 136.79

S3: 136.59

Technical summary:

Wave c of B higher to 137.82 is still unfolding. Once the B-wave correction is over near 137.82, then we should be looking for wave C lower to 130.73. Short term, I expect minor support at 136.79 and more importantly support at 136.59 will protect the downside for the final rally higher towards 137.82 before wave C takes over for the next impulsive decline.

Trading recommendation:

We will sell EUR at 137.70 with stop placed at 138.10

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 Elliott wave analysis of EUR/JPY for October 28 - 2014 . Thanks for your support.

Trading recommendation on October 28, 2014 Market Analysis Review

The soft US data dragged the pair below 20Dsma. In yesterday's session the pair rejected at 20Dsma and closed below that. Today the pair opened below the previous close which represents some more weakness. Traders eye today's US consumer confidence and tomorrow's US Federal Reserve monetary policy meeting. On the down side the pair has support at 0.9470. We recommend selling below 0.9465 and buying above 0.9525. The prices are trading below the hourly key moving averages in the h4 chart. The pair has been making a strong base between 0.9400 and 0.9392 levels. In case, if the pair closes below 0.9392, we can expect a 100 to 150 pips correction in the near term. The monthly support level exists at 0.9150 levels. Huge buying will take place above 0.9565 for a upside target of 0.9593 and 0.9625 levels.

Support: 0.9465, 0.9392, 0.9301

Resistance: 0.9562, 0.9625, 0.9688

Trade- selling below 0.9465

Buying above 0.9525

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 Trading recommendation on October 28, 2014 . Thanks for your support.

Intraday trading recommendations on Gold for October 28, 2014 Market Analysis Review

In yesterday's session the metal closed at the 20Dsma levels. The metal has been making lower lows for 5 sessions. Today the metal opened below the 20Dsma and rejected there. Ahead of the US Federal Reserve monetary policy meeting, the expectations are very high the central bank will end its quantitative easing program. If this happens, the US dollar will gain more strength that will turn to the negative side for the yellow metal. Today in Asia's session, the metal is trading at $1,225, below the 20Dsma. Support levels exist at $1,221.50 and $1,217.00. Speculators can start selling below $1,221.50 or safe traders can start selling below $1,217.00 levels. For an Intraday view, the prices are closed below the hourly moving averages. The 12ema levels act as strong resistance levels. For speculators, we recommend risky selling only below $1,221.50, safe selling, below $1,217 and buying, above $1,230.00 levels.

Until the prices close below $1,240.00 the trading pattern is framed between $1,217.00 and $1,240.0.

Trade-

Buy with sl $1,221.50 and targets at $1,230, above this, $1,232, $1,234, $1,238 and $1,240.

Selling below $1,221.50 with targets at $1,217.00, below this, $1,210 and $1,204.00.

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 Intraday trading recommendations on Gold for October 28, 2014 . Thanks for your support.

Technical analysis on GBP/USD for October 28, 2014 Market Analysis Review

The soft US data gave enough strength to close above 20Dsma.The cable is trading on the verge of 4-month descending trend line. In the daily chart, we can observe minor h&s pattern. Today's closing will provide a clear direction in the near and short term. Ahead of the US Federal Reserve monetary policy meeting, the expectations are very high the central bank will end its quantitative easing program. A daily close above the neck line in the daily chart, we can see a sharp upswing of 310 pips in the near and short term. The cable has strong support at 1.6000 levels. The trading pattern is framed between 1.6000 and 1.6200. For an Intraday view, the prices are closed and trading above hourly key moving averages. The cable has support at 1.6100 and 1.6090 levels. Below 1.6090 hourly key trend decider level exists at 1.6070. We recommend selling below 1.6070 for targets at 1.6000, below this, panic will be triggered. Safe traders can buying above 1.6200.

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 on GBP/USD for October 28, 2014 . Thanks for your support.

Technical analysis of EUR/USD for October 28, 2014 Market Analysis Review

The soft US data gave the pair enough strength to close above 20Dsma. The euro recovered from the support zone at 1.2600 levels. Traders eye this week's Federal Reserve monetary policy meeting. There are high expectations that the US central bank will end its QE program. On the down side the pair has a strong support zone between 1.2600 and 1.2584 levels. Today, in the Pacific session the pair is trying to hold at 20Dsma, 1.2694 levels. The longer-term picture still favors the downside target at 1.2220, 200Msma. On October 28-31, the support level exists at 1.2600 and resistances exist at 1.2740 and 1.2865, 50Dsma levels.

For an hourly view, the prices are closed above 12ema and 21hrsma levels. Currently the price is facing strong resistance at 34hrsma, above this, 1.2715 levels. On the down side, support exists at 1.2694, below this, 1.2689, 1.2675, 35DEMA and 21hrsma 1.2666 12hr low. We can see strong rise above 1.2845 levels. We recommend selling below 1.2660 for targets at 1.2630, 1.2614 and 1.2606.

Trade-

Selling below 1.2660

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 28, 2014 . Thanks for your support.

Technical analysis of EUR/JPY for October 28, 2014 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY is seen to be stalling around 137.00/20 levels since yesterday. The pair could retrace and carve a higher low around 136.00 levels before resuming rally towards 138.70/80 levels. Support is seen at 136.50, followed by 135.25, 134.25 and lower while resistance is seen at 138.00, followed by 139.00 and higher respectively. The pair had bounced off the 135.20 levels last week, which is confluence of fibonacci 0.618 support, backside of the resistance line and a morning star bullish candlestick formation. Hence it is recommended to remain long since bulls shall remain in control till prices remain above 135.00/20 from here on.

Trading recommendations:

Remain long, set stop at 135.00, target is 138.70.

Good luck!

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/JPY for October 28, 2014 . Thanks for your support.

Technical analysis of GBP/CHF for October 28, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair reversed after printing intraday highs at 1.5338/40 yesterday. Please make a note that the pair is stalling at a fibonacci 0.618 resistance around 1.5320/30 (of the drop from 1.5555 to 1.4975). A bearish reversal could be expected at current levels, and the pair could possibly resume its next downswing extension below 1.4975 levels. Support on the daily chart view here is at 1.4950, followed by 1.4700/50 while resistance is seen at 1.5450, followed by 1.5555 respectively. It is recommended to remain short for now and also look to add further.

Trading recommendations:

Remain short. set stop above 1.5450, target is open.

Good luck!

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 GBP/CHF for October 28, 2014 . Thanks for your support.

Technical analysis of Silver for October 28, 2014 Market Analysis Review

Technical outlook and chart setups:

Silver is trading at the support region around $17.00 levels for now. The metal could be preparing to rally towards $17.50/60 levels at least, if not higher from here. Hence, it is recommended to remain long for now, risk remains at $16.60. The metal still continues to be in a trading range, where support is around $17.00 and resistance is around $17.60/70 respectively. The metal is supported by $16.60 for now and bulls should remain in control till prices remain above the same. Resistance is seen at $18.00, followed by $18.50 and higher respectively.

Trading recommendations:

Remain long, sset stop at $16.40, target is open.

Good luck!

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 Silver for October 28, 2014 . Thanks for your support.

Technical analysis of Gold for October 28, 2014 Market Analysis Review

Technical outlook and chart setups:

Gold is trading around $1,227.00 levels for now which are around 0.382 fibonacci support, of the rally between $1,183.00 and $1,255.00. The metal could pullback towards $1,242.00 levels before dipping further into $1,210.00 region. Support is seen at $1,208.00/10, followed by $1,183.00 and lower while resistance is seen at $1,255.00 (interim), followed by $1,275.00 and higher respectively. It is recommended to cover short positions if taken last week and wait for a rally higher. The optimum level to go long is around $1,208.00/10.00 levels. Either way, a push above $1,255.00 levels could further see $1,300.00 at least on the higher side.

Trading recommendations:

Cover short positions taken earlier, remain flat for now.

Good luck!

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 Gold for October 28, 2014 . Thanks for your support.

Technical analysis of EUR/USD for October 28, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Import Prices m/m. The US will release the economic data too such as the Core Durable Goods Orders m/m, Durable Goods Orders m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, Richmond Manufacturing Index, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2763.

Strong Resistance:1.2755.

Original Resistance: 1.2743.

Inner Sell Area: 1.2731.

Target Inner Area: 1.2701.

Inner Buy Area: 1.2671.

Original Support: 1.2659.

Strong Support: 1.2647.

Breakout SELL Level: 1.2639.

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 28, 2014 . Thanks for your support.

Technical analysis of USD/JPY for October 28, 2014 Market Analysis Review

In Asia, Japan will release the Retail Sales y/y and the US will release some economic data such as Core Durable Goods Orders m/m, Durable Goods Orders m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, Richmond Manufacturing Index. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 108.47.

Resistance. 2: 108.26.

Resistance. 1: 108.05.

Support. 1: 107.78.

Support. 2: 107.57.

Support. 3: 107.36.

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 28, 2014 . Thanks for your support.

Daily analysis of USDX for October 28, 2014 Market Analysis Review

At the H4 chart, the USDX has met resistance at the bullish trend line near the resistance level of 86.01, so the USDX could be forming a bullish pattern above the 200-day moving average. It is likely that during today's session the USDX will make a rebound on bullish trend line at the level of 85.45 and therefore rise again to the level of 86.01, although the MACD indicator remains in neutral territory.

H4chart's resistance levels: 86.01 / 86.75

H4chart's support levels: 85.06 / 84.52

The USDX is trying to make a rebound at the support level of 85.49, where the 200 SMA is on the H1 chart. If the USDX makes a breakout at the resistance level of 85.73, it's expected to climb back to the level of 85.95 in the short term that means a strong bullish consolidation in the short term and the USDX could have a second wind in the current trend. The MACD is entering neutral territory, which could favor the bullish momentum in the USDX.

H1 chart's resistance levels: 85.73 / 85.95

H1 chart's support levels: 85.49 / 85.27

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 85.95, take profit is at 86.17, and stop loss is at 85.73.

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 Daily analysis of USDX for October 28, 2014 . Thanks for your support.

Daily analysis of GBP/USD for October 28, 2014 Market Analysis Review

On the daily chart, the GBP/USD is trying again to make a breakout at the level of 1.6146 so it is very likely that this pair will go up to the resistance level of 1.6235. However, these corrective movements may stop suddenly, and GBP/USD might begin to fall below the support level of 1.6046, so that the next target would be the level of 1.5883. Keep in mind that the GBP/USD is following a bearish trend line at current levels. The MACD indicator remains in positive territory.

Daily chart's resistance levels: 1.6146/ 1.6235

Dailychart's support levels: 1.6046 / 1.5883

The GBP/USD is consolidating above the support level of 1.6117 with the formation of a higher high pattern, so that the next target would be the resistance level of 1.6170 on the bullish road. If GBP/USD does a breakout at the level of 1.6170, it's expected to rise to the level of 1.6216. The MACD indicator is entering neutral territory.

H1 chart's resistance levels: 1.6170 / 1.6216

H1 chart's support levels: 1.6117 / 1.6075

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6170, take profit is at 1.6216, and stop loss is at 1.6127.

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 Daily analysis of GBP/USD for October 28, 2014 . Thanks for your support.