Technical analysis of EUR/USD for February 11, 2015 Market Analysis Review

When the European market opens, no economic news are due today. However, when the US market starts they will release some economic reports such as the Federal Budget Balance, 10-y Bond Auction, and Crude Oil Inventories. So, amid the reports, EUR/USD will move with low to medium volatility during this day.


TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1377.

Strong Resistance:1.1370.

Original Resistance: 1.1359.

Inner Sell Area: 1.1348.

Target Inner Area: 1.1321.

Inner Buy Area: 1.1294.

Original Support: 1.1283.

Strong Support: 1.1272.

Breakout SELL Level: 1.1265.





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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Forecast and trading recommendations on Gold for February 11, 2015 Market Analysis Review

The yellow metal again ended lower at the previous session amid the strong US dollar. Today, the focus has shifted to the Euro group meeting. In the recent days, the precious metal lost its momentum following the strong US economic data and weaker Chinese data. The same repeated again at the previous session. The stronger US data goves hope that the US Federal Reserve will raise the interest rates earlier than later. The metal has been taken support between $1,230.00 and $1,228.00. We recommend fresh selling below $1,228.00 with the targets at $1,225.00 and $1,217.00. If a daily close is below $1,217.00, bears can challenge $1,207.00, $1,204.00, and $1,199.00. The weekly key support level exists at $1,216.00. Until the prices close and the metal trades below $1,266.00, use every rise to sell. Intraday resistance exists at 1252.00. In case if the prices manage to breach above 1252.00, bulls can challenge 1255.00, 1264.00, and 1266.00.

Resistance: $1,240.00, $1,246.00, $1,252.00.

Support: $1,228.00, $1220.00, $1,217.00.

Selling below $1,228.00.

Buying above $1,240.00, strong momentum above $1,252.00.

Risky traders can try with sl $1,230.00.

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Technical analysis of USD/JPY for February 11, 2015 Market Analysis Review

In Asia, Japan will not release any economic data. However, the US will release some economic reports such as Federal Budget Balance, 10-y Bond Auction, and Crude Oil Inventories. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.


TODAY TECHNICAL LEVELS:

Resistance. 3: 120.10.

Resistance. 2: 119.86.

Resistance. 1: 119.63.

Support. 1: 119.35.

Support. 2: 119.11.

Support. 3: 118.88.





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



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Daily analysis of USDX for February 11, 2015 Market Analysis Review

The USDX had a bullish day during the session on Tuesday and we could expect a rally towards the resistance level of 95.45 in the near term. Besides, bear in mind the fact that the 200 SMA is still pointing upwards and the USDX continues to form a bullish pattern. It shows a good performance of this instrument in the bullish bias.

On the H1 chart, the USDX is battling with the resistance level of 94.87, which currently is getting stronger. However, the 200 SMA on this time frame is still bullish. If the USDX makes a breakout in that zone, it would be expected to rise until the level of 95.16. For now, be cautious, as the MACD indicator is still showing negative levels.

Daily chart's resistance levels: 95.45 / 96.78

Dailychart's support levels: 94.18 / 93.02

H1 chart's resistance levels: 94.87 / 95.16

H1 chart's support levels: 94.38 / 93.94

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 94.87, take profit is at 95.16, and stop loss is at 94.58.

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Daily analysis of GBP/USD for February 11, 2015 Market Analysis Review

The corrective moves on the GBP/USD pair are still on the way, as the pair is trying to perform a bullish consolidation above the level of 1.5247. Now, we're watching a higher high pattern formation of the GBP/USD pair on the daily chart. We expect a rise until the resistance level of 1.5491, when the pair finishes developing that pattern.

The range established between the levels of 1.5249 and 1.5210 continues to be respected by the GBP/USD pair on the H1 chart, because the pair found strong support in the zone of 1.5210. However, later the pair was rejected from the level of 1.5249. By the way, it seems that bulls could take the ride on the GBP/USD pair in an intraday outlook. The MACD indicator is still on the positive territory.

Daily chart's resistance levels: 1.5247 / 1.5491

Dailychart's support levels: 1.5025 / 1.4841

H1 chart's resistance levels: 1.5249 / 1.5302

H1 chart's support levels: 1.5210 / 1.5166

Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5249, take profit is at 1.5302, and stop loss is at 1.5196.

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USDCAD Daily Analysis - February 11, 2015 Forex Analysis

USDCAD is forming a sideways consolidation in a range between 1.2352 and 1.2797. The sideways movement could be expected to continue in a couple of days. As long as 1.2352 support holds, the uptrend from 1.1191 (Nov 21, 2014 low) could be expected to resume, and one more rise towards 1.3000 is still possible.

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USDJPY Daily Analysis - February 11, 2015 Forex Analysis

USDJPY's upward movement from 115.85 extended to as high as 119.61. Further rise to test 120.82 resistance could be expected, a break of this level will target 125.00 area. Support is at 118.20, only break below this level could bring price back to test 115.85 support.

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AUDUSD Daily Analysis - February 11, 2015 Forex Analysis

AUDUSD is in consolidation of the downtrend from 0.8294. Range trading between 0.7625 and 0.7950 would likely be seen over the next several days. Resistance is at 0.7950, as long as this level holds, the downtrend could be expected to resume, and next target would be at 0.7500 area.

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GBPUSD Daily Analysis - February 11, 2015 Forex Analysis

GBPUSD is now in uptrend from 1.4950, the fall from 1.5351 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.5500 area. Key support is at 1.4950, only break below this level could trigger another fall towards 1.4500.

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EURUSD Daily Analysis - February 11, 2015 Forex Analysis

EURUSD is in consolidation of the downtrend from 1.2569 (Dec 16, 2014 high). Range trading between 1.1097 and 1.1650 is possible over the next several days. Support is at 1.1097, a breakdown below this level could signal resumption of the downtrend.

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Daily analysis of GBP/JPY for February 10, 2015 Market Analysis Review

Overview

Proceeding from the today's H4 chart, the pair is still trading between the support level of 181.00 and the resistance level of 182.00 and currently the pair fails again to break the resistance level. If the pair breaks it to take an upward movement, it may continue its bullish trend and we will get a good opportunity to buy again above the resistance level of 182.00 untill closing H4 below the resistance level of 182.50 as a level target. Then we have to wait for breaking this resistance level to continue the upward move and open the way towards the resistance level of 183.00. On the other hand, if the pair failed to break the resistance level of 182.00 and bounces from it, it may take a downward trend, which will enable the support level of 181.00 again. Therefore, we suggest waiting for the next closing before making a decision.

Resistance and support levels: R3 (183.00), R2 (182.50), R1 (182.00), S1 (181.00), S2 (180.50), S3(180.00)

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Daily analysis of Silver for February 10, 2015 Market Analysis Review

Overview

According to our yesterday's expections, the price's close below the resistance level of 17.00 would give new opportunities for sell signals. As shown on the H4 chart, the metal has failed to break the resistance level of 17.00 and has bounced from it. Currently, the metal is trying to break the support level of 16.75 and is approaching it to continue its bearish move. On the other hand, the metal's rebound from the support level of 16.75 cancels the bearish scenario.

Resistance and support levels: R3 (17.70), R2 (17.50), R1 (17.00), S1 (16.75), S2 (16.50), S1(16.20).

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Technical analysis of EUR/JPY for February 10, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair might be preparing to break higher, above the handle of 135.00 now. The pair has been facing resistance for some time at the levels of 135.00; and a break higher could raise the pair quickly into the region of 137.50/138.00. Therefore, it is recommended to hold long positions taken earlier and to look to add fresh ones above 135.00/30 as well, risk remains at 132.50 for now. Immediate support is also seen at 132.50 followed by 130.00 and lower, while resistance is seen at 137.50/138.50 followed by 142.00 and higher, respectively.

Trading recommendations:

Remain long for now; stop is at 132.00, target is open.

Good luck!

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Technical analysis of GBP/CHF for February 10, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is stalling around the handle of 1.4100/4200, as seen here. This region is also marked by the Fibonacci 0.618 resistance of the drop from 1.5500 to 1.1800. Bears could possibly regain control from here if the handle of 1.4200 remains intact. An aggressive trade setup could be to initiate 50% short positions now (1.4090/4100) with risk above 1.4200. The resistance is seen at 1.4190 (interim) followed by 1.4300, 1.4700 and higher, while the support is seen at 1.4000 followed by 1.3850 and lower, respectively. A drop below 1.4000 from the current levels would accelerate further downside.

Trading recommendations:

Initiate 50% short positions now; stop is above 1.4200, target is open.

Good luck!

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EUR/NZD analysis for February 10, 2015 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.5194 in a volume below the average. Our Fibonacci retracement 61.8% at the price of 1.5180 almost got testes; so my advice is to be careful when selling EUR/NZD at this stage. Anyway, if the price breaks the level of 1.5180, we may see a possible testing of the level of 1.5060. According to the 4H time frame, we can observe lack of supply around the price of 1.5225, which is a sign that selling looks risky.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5375

R2: 1.5424

R3: 1.5504

Support levels:

S1: 1.5215

S2: 1.5166

S3: 1.5086

Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after retracement (buy on the dips).

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Gold analysis for February 10, 2015 Market Analysis Review

Overview :

Since our last analysis gold has been trading sideways around the price of 1,238.00. According to the H4 time frame, we can observe rejection from our Fibonacci retracement 61.8% at the price of 1,234.00. According to the daily time frame, we have demand in a volume below the average. Major resistance level is around the price of 1,307.00 (swing high like resistance) and intraday resistance is around the price of 1,252.00. My advice is to watch for potential buying opportunities on the lows (buy on the dips). Anyway, if the price breaks the level of 1,228.00, we may see possible testing of the level of 1,220.00 before any larger bullish reaction.

Daily Fibonacci pivot points :

Resistance levels :

R1: 1,245.26

R2: 1,249.03

R3: 1,254.46

Support levels :

S1: 1,236.06

S2: 1,230.63

S3: 1,226.86

Trading recommendations: Watch for potential buying opportunities after retracement (buy on the dips).

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Technical analysis of Silver for February 10, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver has bounced off the Fibonacci 0.618 support levels at the levels of $16.50/60 earlier (last Friday). The metal is preparing to resume its rally and extend higher towards $18.90 and higher in the coming sessions. It is recommended to remain long and also to add further positions at the current levels. The metal has bounced off its trend line support (not depicted today) as well, which is quite encouraging for bulls. Immediate support is seen at the levels of $16.50 (interim) followed by $16.20, $15.50 and lower, while resistance is seen at $17.40/50 (interim) followed by $18.40/50, $18.90 and higher, respectively. Bulls are setting up to gain control again for now.

Trading recommendations:

Remain long; stop is at $16.00, target is open.

Good luck!

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Technical analysis of Gold for February 10, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is seen to be retracing lower towards the levels of $1,235.00 for now. The metal may be supported at the current levels and then continue higher above $1,245.00 again. On the flip side, a drop below $1,228.00 could find support at $1,221.00, which is also 60% of the rally between $1,170.00 to $1,307.00. It is recommended to remain long for now and also look to add further on dips with risk below the levels of $1,170.00. Immediate support is seen at $1,220.00 (interim) followed by $1,205, $1,170.00 and lower, while resistance is seen at $1,285.00 (interim) followed by $1,307.00, $1,340.00 levels and higher, respectively. Bulls would remain in control untill the prices stay above $1,170.00.

Trading recommendations:

Remain long, stop at $1,170, target is open.

Good luck!

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Technical analysis of AUD/USD for February 10, 2015 Market Analysis Review

Overview :

• According to the previous events, the price of the AUD/USD pair has moved between the levels of 0.7828 and 0.7724. For that it should be noted that the minor support and resistance are going to set at the levels of 0.7724 and 0.7828 respectively today. So, the range of this pair today is likely to be about 104 pips. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to sell below 0.7830 with the first target at 0.7744, and the price will climb towards 0.7724 in order to test this strong support (it should be noted that at the level of 0.7724 will be formed double bottom). However, if the pair fails to break 0.7830, the market will indicate a bullish opportunity above 0.7833 because this price will really act as strong resistance. Consequently, it will be a good sign to buy above 0.7733 with the first target at 0.7851 and it will call for an uptrend in order to continue bullish movement towards 0.7875.

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Intraday technical levels and trading recommendations for GBP/USD for February 10, 2015 Market Analysis Review

The previous consolidation movement extended between the price levels of 1.5550 and 1.5770. It represented a period of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.

Bearish breakout below 1.5550 directly exposed lower targets. Bears have already pushed towards the price levels of 1.5050 and 1.4960 which have not been visited since July 2013.

As mentioned in the previous articles, conservative traders should have been waiting for the current bullish pullback towards the recent SUPPLY zone around 1.5280-1.5320 for a low-risk SELL entry.

This SUPPLY zone also corresponds to the upper limit of the depicted daily channel where bearish pressure was anticipated last week on Thursday at retesting.

However, this bearish scenario was threatened on Thursday after the daily closure above the upper limit of the consolidation zone as well as the depicted channel around 1.5250.

Moreover, a bearish engulfing daily candlestick was expressed on Friday. This has pushed the GBP/USD pair again inside the channel.

On January 8, the GBP/USD pair has shown initial bullish recovery off the price level of 1.5050. Since then, the pair was trapped within a consolidation zone ranging between 1.4960 and 1.5230 until Thursday when the pair achieved daily closure above them.

The price level of 1.5280 corresponds to the upper limit of the depicted H4 channel as well as 50% Fibonacci level of the recent bearish swing that extended between 1.5600 and 1.4976.

As suggested, the price zone of 1.5280-1.5320 offered a low-risk SELL entry by the end of the last week with Stop loss located above 1.5360 (61.8% Fibonacci level). SL can now be lowered to 1.5280 to offside some of the risk.

On the other hand, DAILY closure above 1.5340 invalidates the short-term bearish scenario exposing the price level of 1.5480 for retesting.

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Technical analysis of NZD/USD for February 10, 2015 Market Analysis Review

Overview :

• In the short term, the last double top of the NZD/USD pair has already been set at the price of 0.7493 on the H4 chart. Moreover, it should be noted that the level of 0.8856 is representing the highest price. So, the market will turn to the bearish sentiment from the level of 0.7493/0.7450. Additionally, the support has reached 0.7345 and the resistance is going to set at the spot of 0.7450/0.7493. Thus, we expect a new range of 253 pips this week. Therefore, it will be a good sign to sell at the price of 0.7450 with the first target of 0.7345. Furthermore, it will continue in the downtrend in order to keep its bearish movement towards 0.7310 (it should be also noticed that the level of 0.7310 is going to form a strong support). Nevertheless, the stop loss should never exceed your maximum exposure amounts. Accordingly, the stop loss should be placed above the double top (0.7483) at the level of 0.7505.

Intraday technical levels :

• R3: 0.7550


• R2: 0.7495


• R1: 0.7452


• PP: 0.7397


• S1: 0.7354


• S2: 0.7299


• S3: 0.7256

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Intraday technical levels and trading recommendations for EUR/USD for February 10, 2015 Market Analysis Review

The market has been pushing lower aggressively after breaking below the major DEMAND LEVELS around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010.

The pair has lost almost 800 pips since the beginning of 2015. Moreover, theoretical long-term bearish targets would be located near 0.9450, especially after the obvious MONTHLY closure of January took place below 1.2000.

During the past few weeks, the EUR/USD bears have been challenging historical lows that were established back in 2005 and 2003.

Some bullish recovery was finally witnessed by the end of January and the beginning of February.

On the daily chart the market looked oversold below the price levels of 1.2000 and 1.1900 (prominent psychological SUPPORT).

As it was suggested in the previous articles, conservative traders should be waiting for a bullish pullback looking for better prices to SELL the pair off (R1 at 1.1550 and R2 at 1.1700).

The price zone of 1.1540-1.1600 is a recently established SUPPLY zone. Short-term SELL positions can be taken there. Stop loss should be placed slightly above the price level of 1.1680.

On the other hand, the daily fixation again below 1.1260, which is a recent DEMAND level depicted on the H4 chart, activates a DOUBLE-TOP reversal pattern exposing the recent lows around 1.1110 for retesting especially after the breakout took place below the depicted bullish channel on the H4 chart.

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Technical analysis of EUR/JPY for Febuary 10, 2015 Market Analysis Review

General overview for 10/02/2015 11:35 CET

The momentum in this market is almost gone as it is shown by the RSI indicator that is currently forming a triangle. The pair is still trading inside the daily range, between the levels of 133.63 - 135.36. Only a breakout higher above the level of 135.36 would invalidate the alternative scenario and put the level of 137.64 in view for test. Otherwise, the bias looks bearish and one more wave to the downside is needed to complete the impulsive cycle.

Support/Resistance:

136.74 - Key Resistance

137.27 - WR2

136.15 - WR1

135.36 - Intraday Resistance

134.22 - Weekly Pivot

133.63 - Intrday Support

133.11 - WS1

132.32 - Key Level To The Downside

Trading recommendations:

Sell orders advised yesterday should be still kept open. SL should be placed above the level of 135.36 and open TP level for now.

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Technical analysis of USD/CAD for Febuary 10, 2015 Market Analysis Review

General overview for 10/02/2015 11:25 CET

As it was anticipated yesterday, the market is still trying to complete the corrective cycle in the shape of abcde green triangle. So far it has been following the scenario very well and now it looks like there is only one more wave tot he upside to complete the wave X brown (wave e green). When this sub-cycle is finished, the market should continue lower and violate the intraday support at the level of 1.2350. The projected target for the wave Y brown is at the level of 1.2122 (weekly pivot support level).

Support/Resistance:

1.2797 - Swing High

1.2732 - WR1

1.2593 - Intraday Resistance|Key Level|

1.2543 - Weekly Pivot

1.2350 - Intraday Support|Key Level|

1.2314 - WS1

1.2122 - WS2

Trading recommendations:

Sell orders advised yesterday should be kept open for now. SL is above the level of 1.2593, and TP is open for now.

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GBP/USD intraday technical levels and trading recommendations for February 10, 2015 Market Analysis Review

Overview:

The daily closure below the recent bottoms located around 1.5540-1.5560 rendered the previous consolidation range as a bearish flag pattern with the projection target at 1.5300.

The market has already pushed further below reaching down to 1.5030-1.4980 where the lower limit of the channel has been providing support for the pair over the past few weeks.

The H4 chart shows transition into a sideway movement with mild bearish tendency which has been maintained within the depicted price range until evident bullish pressure was applied at retesting of 1.5000 last week.

Temporary bullish breakout above the upper limit of the short-term channel pattern (the price level of 1.5170) took place last week.

Persistence above the key-support (the price zone of 1.5170-1.5200) has applied bullish pressure over the price zone of 1.5290-1.5360 (prominent Fibonacci levels and the upper limit of the depicted movement channel) where bearish rejection was applied, as anticipated.

A bearish engulfing daily candlestick was expressed at retesting of the upper limit of the daily channel on Friday. Hence, the GBP/USD pair gets back to apply bearish pressure over the previously broken key-zone (1.5170-1.5200). There is a high probability of bearish breakdown.

Trading recommendations:

SELL entries were suggested around the price zone of 1.5290-1.5360. It's running in profits now. Hence, SL should be lowered to be slightly above 1.5270.

Look for the early signs of bullish reversal around the current prices (1.5200 - 1.5170). Bullish rejection signs would indicate an upcoming bullish swing with targets further above 1.5350.

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#USDX technical analysis for February 10, 2015 Market Analysis Review

The Dollar index is consolidating near its short-term highs. There is a bullish flag being formed that will give us the short-term target of 95.90 if we make a breakout above the resistance. The trend remains bullish in the longer-term targeting 100.

Black line = broken resistance

Red lines = bullish flag pattern and target

The Dollar index has broken the short-term trend line resistance and has also moved above the Ichimoku cloud resistance. The short-term chart shows a bullish flag that is being formed and a breakout above 94.90 will imply that we are breaking out with 95.90 as a target.

The weekly chart remains fully bullish with long tailed bullish candles supporting the current trend. In Ichimoku terms support is found at 91.60 and as long as we are above that level, we should expect 100 to be achieved in the coming months.

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Gold technical analysis for February 10, 2015 Market Analysis Review

Gold price remains in a short-term downtrend. The price is making a short-term bounce and I expect selling pressures to come back and push price towards a new short-term low towards $1,220 or even $1,200.

Black lines = triangle pattern

Red line = bearish flag

The 4-hour chart above shows the bearish flag that gold price is currently forming. Support is found at $1,235 and resistance at $1,245. The price is below the Ichimoku cloud and the trend is bearish. I remain bearish expecting the price to continue lower after the triangle breakout to the downside.

Gold price is expected to reach the green area as shown on the chart above and most probably to reach the 61.8% retracement. I also believe that if we break below the 61.8% retracement we should expect gold price to test the Ichimoku cloud support at $1,200-$1,190.

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Technical analysis of USD/JPY for February 10, 2015 Market Analysis Review

Fundamental overview:
USD/JPY is expected to trade in a lower range. It is undermined by the flows to haven yen amid increasing risk aversion (VIX fear gauge rose 7.29% to 18.55, S&P 500 closed 0.42% lower at 2,046.74 overnight) as deepening standoff between Greece and its creditors enhanced fears of a forced exit by the indebted nation from Europe's single currency union. Besides, a decline in China's January exports and imports raised concerns about slowing global economy. USD/JPY is also affected by the broadly weaker dollar undertone (ICE spot dollar index last 94.51 versus 94.70 early Monday) on profit-taking of long USD positions and Japan's export sales. But USD/JPY losses are tempered by the higher U.S. Treasury yields (10-year at 1.977% versus 1.938% late Friday), demand from Japan's importers, and ultra-loose Bank of Japan's monetary policy.

Technical comment:
The daily chart is still positive-biased as MACD and stochastics are in a bullish mode. Five-day moving average is rising above 15-day moving average.

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 the pivot point. Short positions are recommended with the first target at 118. A break of this target will move the pair further downward to 117.65. The pivot point stands at 119. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 119.30 and the second target at 119.75.

Resistance levels:

119.30

119.75

120.25

Support levels:

118

117.65

117.25

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Technical analysis of USD/CHF for February 10, 2015 Market Analysis Review

Fundamental overview:
USD/CHF is expected to trade in a range. It is supported by the negative Swiss interest rates and threat of SNB CHF selling intervention. But USD/CHF upside move is limited by the broadly weaker dollar undertone (ICE spot dollar index last 94.51 versus 94.70 early Monday) on profit-taking of long USD positions.

Technical comment:
The daily chart is still positive-biased as MACD and stochastics are in a bullish mode.

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 the pivot point. Short positions are recommended with the first target at 0.9160. A break of this target will move the pair further downward to 0.9075. The pivot point stands at 0.9290. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 0.9365 and the second target at 0.9435.

Resistance levels:
0.9365

0.9435

0.9465

Support levels:

0.9160

0.9075

0.8985

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Technical analysis of NZD/USD for February 10, 2015 Market Analysis Review

Fundamental overview:
NZD/USD is expected to trade in a higher range. It is supported by the broadly weaker dollar undertone (ICE spot dollar index last 94.51 versus 94.70 early Monday) on profit-taking with long USD positions, firmer commodity prices, and Kiwi demand on soft AUD/NZD cross. But NZD/USD gains are tempered by the increased investor risk aversion.

Technical comment:

The daily chart is tilting positive as stochastics is rising from oversold levels, MACD staging bullish crossover against its exponential moving average.

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 0.7455 and the second target at 0.75. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.7325. A break of this target would push the pair further downwards, and one may expect the second target at 0.7280. The pivot point is at 0.7365.

Resistance levels:

0.7455

0.75

0.7530



Support levels:

0.7325

0.7280

0.7220

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Technical analysis of GBP/JPY for Feburary 10, 2015 Market Analysis Review

Fundamental overview:
GBP/JPY is expected to trade with risks skewed lower. It is undermined by the worries over Greece, increased investor risk aversion, and Japan's export sales. But GBP/JPY losses are tempered by the demand from Japan's importers. The daily chart is still positive-biased as MACD and stochastics are in a bullish mode.

Technical comment:
The daily chart is still positive-biased as MACD and stochastics are in a bullish mode.

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 the pivot point. Short positions are recommended with the first target at 179.20. A break of this target will move the pair further downward to 178.50. The pivot point stands at 181.10. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 181.80 and the second target at 182.65.

Resistance levels:

181.80

182.65

183.35

Support levels:

179.20

178.50

177.70

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Technical analysis and trading recommendations on Gold for February 10, 2015 Market Analysis Review

The weak US dollar supported the yellow metal to hold the support levels. In the recent days, the yellow metal lost its momentum affected by the strong US economic data and weaker Chinese data. At yesterday's session, the metal marginally gained ground amid concerns over Greece. The stronger US data raises hopes that the Federal reserve will raise the interest rates earlier than later. At yesterday's session, we recommend buying above $1,240.00 with the targets at $1,246.00 and $1,250.00, but the metal made a high at $1,243.30. Today, at the Asian session, the metal is unable to breach the previous day's high. We recommend fresh selling below $1,235.00 with the targets at $1,231.00, $1,228.00, $1,217.00 and 100Dsma. If a daily close is below $1,217.00, bears can challenge $1,207.00, $1,204.00, and $1,199.00. The weekly key support level exists at $1,216.00. Until the metal prices close and the metal trades below $1,266.00, use every rise to sell. Risky traders can buy above $1,244.00 with the targets at $1,246.50, $1,250.00, and $1,255.00.

Resistance: $1,239.00 $1,246.00, $1,250.00.

Support: $1,235.00, $1,228.00, $1,217.00.

Selling below $1,235.00; panic is expected below $1,228.00.

Buying above $1,244.00; strong momentum will appear above $1,265.00.

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