03/03/15 ~ Best and Easy Analyst News

Tuesday 3 March 2015

Elliott wave analysis of EUR/JPY for March 4 - 2015 Market Analysis Review

Technical summary:

We are still looking for a break below minor support at 133.39 to provide acceleration lower in red wave iii towards 131.04 as the first target. In the long term, we are looking for a decline towards 125.98 as the final low for wave C expanded flat correction from the December 2013 high at 145.69. At that point, a break above minor resistance at 134.60 will delay the expected downside pressure, but only a break above 135.63 will invalidate an immediate bearish count.

Trading recommendation:

We are short EUR from 133.90 and will keep our stop at 135.70. If you are not short EUR yet, then sell a break below 133.39 with stop at 134.65

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 March 4 - 2015 . Thanks for your support.

Technical analysis and trading recommendation of Gold for March 04, 2014 Market Analysis Review

Again, the metal price managed to close above $1,200.00 mark at yesterday's session. The metal dropped to $1,195.00 at the Asian session but managed to closed above $1,200.00. Ahead of ADP data, the metal opened on a bullish note. The price is hovering around $1,200.00 for 8 days. This week, US nonfarm pay roll is due on Friday, which will inflience the Federal Reserve thinking about an interest rate hike. Until prices close below $1,214.00, bears have the upper hand. The intraday support is found at $1,203.00 and resistance is seen at $1,211.00 and $1,214.00. The weekly resistance is set between $1,223.00 and $1,228.00. The near-term bottom was placed at $1,190.00. A daily close below $1,185.00 leads to $1,170.00, $1,167.00, and $1,150.00.

We recommend fresh selling below $1,203.00 with targets at $1,200.50, $1,195.00, and $1,190.00. We can expect intraday strong momentum only above $1,211.00 towards the levels of $1,214.00, $1,216.00, $1,220.00 and $1,222.00. We can expect another strong momentum above $1,224.00 towards the levels of $1,236.00, $1,245.00, and $1,255.00 on a weekly basis.

Resistance: $1,211.00, $1,220.00, $1,224.00.

Support: $1,204.00, $1,200.00, $1,190.00.

Trade: buying above $1,207.00.

Selling below $1,203.00.

Strong upswing momentum is only above $1,211.00. Until the price closes above $1,195.00, bulls try to hit $1,222.00 again.

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 and trading recommendation of Gold for March 04, 2014 . Thanks for your support.

Elliott wave analysis of EUR/NZD for March 4 - 2015 Market Analysis Review

Technical summary:

We are still waiting for the last decline to a long-term support around 1.4700 from 1.7274 to end and set a stage for a multi-month rally. We ideally will see the 1.4819 upside protection for the expected decline closer to 1.4700 in the short term. That says any break below 1.4763 is going to fulfill all requirements for the decline from 1.5821 as a five-wave decline may be counted and we should be looking for a long-term low.

Trading recommendation:

We will buy EUR at 1.4725 or upon a break above 1.4925 (one order done cancels the other)

Technical analysis of EUR/USD for March 04, 2015 Market Analysis Review

When the European market opens, economic data on retail sales m/m, the final services PMI, the Italian services PMI, and the Spanish services PMI will be released.The US is expacted to release economic data on the Beige Book, crude oil inventories, the ISM mon-manufacturing PMI, the final services PMI, and the ADP non-farm employment change. So, EUR/USD will move low to medium volatility during this day amid the reports.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1234.

Strong Resistance:1.1228.

Original Resistance: 1.1217.

Inner Sell Area: 1.1206.

Target Inner Area: 1.1180.

Inner Buy Area: 1.1154.

Original Support: 1.1143.

Strong Support: 1.1132.

Breakout SELL Level: 1.1126.

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for March 04, 2015 . Thanks for your support.

Technical analysis of USD/JPY for March 04, 2015 Market Analysis Review

In Asia, Japan is not expected to release any economic data, but the US will release data on the Beige Book, crude oil inventories, the ISM non-manufacturing PMI, the final services PMI, and the ADP non-farm employment change. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the North American session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.17.

Resistance. 2: 119.94.

Resistance. 1: 119.70.

Support. 1: 119.41.

Support. 2: 119.18.

Support. 3: 118.94.

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 March 04, 2015 . Thanks for your support.

USDCAD Daily Analysis - March 4, 2015 Forex Analysis

USDCAD stayed in the trading range between 1.2352 and 1.2797. Key resistance is now at 1.2663, a break of this level will signal resumption of the long term uptrend from 1.1191 (Nov 21, 2014 low), then the following upward movement could bring price to 1.3000 area. Support is at 1.2352, a breakdown below this level will target 1.2200 area.

For more short term forex analysis and info visit via USDCAD Daily Analysis - March 4, 2015 . Thanks for your support.

USDJPY Daily Analysis - March 4, 2015 Forex Analysis

USDJPY failed to break above 120.47 resistance, indicating that the pair remains in downtrend from 120.47, and the rise from 118.23 could be treated as correction of the downtrend. Another fall to 116.50 area to complete the downward movement would likely be seen. Resistance is at 120.47, only break above this level will indicate that the uptrend from 101.06 (Jul 10, 2014 low) has resumed, then the following upward movement could bring price to 125.00 area.

For more short term forex analysis and info visit via USDJPY Daily Analysis - March 4, 2015 . Thanks for your support.

AUDUSD Daily Analysis - March 4, 2015 Forex Analysis

AUDUSD is now in downtrend from 0.7912. Further decline to test 0.7625 support could be expected, a breakdown below this level will confirm that the downtrend from 0.8294 (Jan 15 high) has resumed. Then the following downward movement could bring price to 0.7000 zone. Resistance is at 0.7912, only break above this level could trigger another rise to 0.8000 area.

For more short term forex analysis and info visit via AUDUSD Daily Analysis - March 4, 2015 . Thanks for your support.

GBPUSD Daily Analysis - March 4, 2015 Forex Analysis

GBPUSD is now in downtrend from 1.5551. Further decline could be expected after a minor consolidation, and next target would be at 1.5100 area. Resistance levels are at 1.5460 and 1.5551, only break above these levels could trigger another rise to 1.5650 zone.

For more short term forex analysis and info visit via GBPUSD Daily Analysis - March 4, 2015 . Thanks for your support.

EURUSD Daily Analysis - March 4, 2015 Forex Analysis

EURUSD's downward movement from 1.1450 extended to as low as 1.1154. Further decline to test 1.1097 support is possible, a breakdown below this level will confirm that the downtrend from 1.2569 (Dec 16, 2014 high) has resumed, then the following downward movement could bring price to 1.0500 area. Resistance is at 1.1250, only break above this level will indicate that lengthier consolidation for the downtrend is needed, then range trading between 1.1097 and 1.1534 could be seen.

For more short term forex analysis and info visit via EURUSD Daily Analysis - March 4, 2015 . Thanks for your support.

Daily analysis of Silver for March 03, 2015 Market Analysis Review

Overview

From the today's H4 chart, yesterday the metal failed to break the support level of 16.30 to bounced again from it to trade between this support level and the resistance level of 16.50. Currently, the metal is approaching the resistance level of 16.50 again; therefore, we should wait for closing above to continue its upward trend move. Given that the metal has managed to close 4H above today, this gives us a good opportunity for more bullish signals above it with the first target few pips below the resistance level of 16.75, then the second target of 17.00 after breaking this resistance level. But as long as silver is trading below 16.50, waiting would be prefered in that case that would cancels the bullish move scenario.

Resistance and support levels: R3 (17.00), R2 (16.75), R1 (16.50), S1 (16.30), S2 (16.00), S3 (15.75).

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 Daily analysis of Silver for March 03, 2015 . Thanks for your support.

Daily analysis of GBP/JPY for March 03, 2015 Market Analysis Review

Overview

As it is shown on the attached H4 chart, the price has closed below the support area of 184.60 and gave a new opportunity for more bearish signals today. As it is depicted, the price has already broken 184.60 and now is testing the support level of 183.50. Closing below this level again may provide us with more sell signals util the price tests the support level of 182.50. So we can consider our first target a few pips above this support level then 182.00 as the second level. But we should wait for breaking 183.50 and closing H4 below before making a decision. But the price's closing above the support level of 183.50 cancels the bearish scenario.

Resistance and support levels: R3 (185.00), R2 (184.60), R1 (184.00), S1 (183.50), S2 (182.50), S3 (182.00).

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 Daily analysis of GBP/JPY for March 03, 2015 . Thanks for your support.

Elliott wave analysis of EUR/NZD for March 3 - 2015 Market Analysis Review

Technical summary

We are still looking for the final decline closer to the long-term support near 1.4700, from which we expect a multi-month rally to take place. From the high of 1.5821, a five wave decline can be allowed for, which means we are close to a bottom and are looking at the longer-term picture. The long-term support from March 1997 is coming in close to 1.4700, which should provoke a long-term rally for many months.

Trading recommendation:

We will buy EUR at 1.4725 or higher than a break above resistance at 1.4925 (an order done cancels the others).

EUR/NZD : analysis for March 03, 2015 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading downwards. The price has tested the level of 1.4791 in an average volume. The major support level at the price of 1.4790 is again on the test again, so be careful when selling EUR/NZD at this stage. I have placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 38.2% at the level of 1.4950. According to the 4H time frame, we can observe supply below the average volume. My advice is to watch for potential bullish opportunities near the lows. Any larger reaction from our support levels may confirm a further bullish phase.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4916

R2: 1.4949

R3: 1.5002

Support levels:

S1: 1.4809

S2: 1.4776

S3: 1.4722

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

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 March 03, 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for March 3 - 2015 Market Analysis Review

Technical summary:

Our dominant count is that the final decline in wave (v) currently is unfolding. A break below the minor support at 133.39 will support this count and will call for a decline towards the perfect target near 125.98. At this point only a break above the resistance at 134.60 and more importantly a break above resistance at 135.63 will invalidate the bearish count for a more complex correction in wave (iv).

Trading recommendation:

We are short EUR from 133.90 with a stop placed at 135.70. If you are not short EUR yet, then sell a break below 133.51 with stop placed at 134.65.

Gold analysis for March 03, 2015 Market Analysis Review

Overview :

Since our last analysis, gold has been trading downwards. The price has tested the level of $1,195.27. We can observe a successful rejection from our Fibonacci retracement 61.8% at the price of $1,203.00. According to the 30M time frame, we have absorption volume in the background, which is a sign that selling gold at this stage looks risky. My advice is to watch for potential buying opportunities. We have a resistance level around the price of $1,235.00 (Fibonacci retracement 38.2%). According to a daily time frame, we have demand in a volume above the average.

Daily Fibonacci pivot points:

Resistance levels :

R1: 1,218.98

R2: 1,223.42

R3: 1,230.60

Support levels :

S1: 1,204.62

S2: 1,200.18

S3: 1,193.03

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

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 March 03, 2015 . Thanks for your support.

Intraday technical levels and trading recommendations for GBP/USD for March 3, 2015 Market Analysis Review

A 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.

Around the price levels of 1.5050 and 1.4960 the market has established another consolidation zone, which extended up to the price levels of 1.5280.

Two weeks ago, the ongoing bearish trend was terminated when bullish breakout above 1.5200 took place, as depicted on the chart. Since then, the GBP/USD pair has been trending upwards within the depicted bullish channel.

Estimated projection targets are located around 1.5600-1.5640 where the previous consolidation zone was located. However, earlier, bears have applied significant bearish pressure around 1.5550 resulting in the formation of a bearish engulfing daily candlestick without further retesting of 1.5600.

By the end of the last week, the GBP/USD pair has consolidated above the price zone of 1.5360 (61.8% Fibonacci level), which failed to provide enough RESISTANCE over the last bullish swing.

For the current bullish breakout to persist, bulls should keep defending the price zone of 1.5300-1.5330 that is being approached today.

Estimated projection targets for the recent bullish breakout are roughly located around 1.5600-1.5640, which have not been tested yet.

On the other hand, the price action should be watched around the price zone of 1.5350-1.5300 to determine the next destination of the GBP/USD pair.

The bearish breakdown of 1.5300 should not be excluded, especially after the obvious bearish engulfing candlestick that occurred yesterday. If so, a bearish decline towards 1.5230 would be expected.

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For detail explanation and best discovery on daily market trends and news you may visit via Intraday technical levels and trading recommendations for GBP/USD for March 3, 2015 . Thanks for your support.

Intraday technical levels and trading recommendations for EUR/USD for March 3, 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 EUR/USD 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 FULL bearish MONTHLY below 1.2000 (January's monthly candlestick).

Bearish breakout below 1.2000 and 1.1900 (prominent psychological SUPPORT) allowed a quick bearish decline towards 1.1100 to take place few days later.

Conservative traders were suggested to wait for a bullish pullback looking for better prices to SELL the EUR/USD pair off (R1 at 1.1550 and R2 at 1.1700). However, the EUR/USD bulls did not show enough bullish momentum to reach these levels.

Instead, a bearish Flag pattern was established on the daily chart. DAILY fixation below the price level of 1.1260 (recent bottom) confirmed that bearish pattern.

Risky traders could wait for a bullish pullback towards the price level of 1.1260 (recent SUPPLY level) for SHORTING the pair.

The nearest DEMAND level to meet the EUR/USD pair would be located around 1.1110 (weekly low).

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For detail explanation and best discovery on daily market trends and news you may visit via Intraday technical levels and trading recommendations for EUR/USD for March 3, 2015 . Thanks for your support.

GBP/USD intraday technical levels and trading recommendations for March 3, 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 provided support for the pair few weeks ago.

The H4 chart showed a transition phase into a sideways movement that has been maintained within the depicted price range.

On February 5, initial bullish breakout above 1.5220 took place. Shortly after, a new DAILY support was established around 1.5170-1.5200 (ascending bottoms, a sign of ongoing bullish momentum).

Since then, the GBP/USD pair has been trending upwards. Persistence of the pair above the recent DAILY support (the price zone of 1.5170-1.5200) applied extensive bullish pressure over the price level of 1.5360 (61.8% Fibonacci level on the H4 chart), which did not provide enough RESISTANCE. Now these price levels are acting as SUPPORT.

The long-term projection target for the recent bullish breakout was already reached around 1.5550 where the previous DAILY bottoms were located (DAILY RESISTANCE).

The GBP/USD pair has been moving upwards within the short-term bullish channel depicted on the daily chart until yesterday, when DAILY breakdown of the lower limit of the channel took place, indicating an upcoming bearish swing initially towards 1.5280.

Trading recommendations:

A valid SELL entry could have been taken at retesting of the price level of 1.5550. SL should be located above 1.5600. TP levels to be placed at 1.5480, 1.5360 and finally at 1.5280.

Risky traders can wait for DAILY fixation below 1.5350 to take a short-term SELL entry with TP at 1.5280 and 1.5210.

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For detail explanation and best discovery on daily market trends and news you may visit via GBP/USD intraday technical levels and trading recommendations for March 3, 2015 . Thanks for your support.

Technical analysis of USD/CAD for March 3, 2015 Market Analysis Review

Overview :

The USD/CAD pair has rebounded from the minor support at 1.2492 and it is now approaching its support. It will probably start an upside movement at this area and recover again. Moreover, it should be noted that the price has formed a strong support at the level of 1.2470 today. Furthermore, this strong level has been still moving between 38.2% of Fibonacci retracement levels (the double bottom) and 61.8% on the H1 chart. Hence, the market will probably start showing the signs of bullish market again in order to indicate a bullish opportunity from the level of 1.2470 or 1.2492 with the first target at 1.2535 (the first resistance), then the USD/CAD pair will continue straightly towards the major resistance at 1.2558. What is more, the level of 1.2558 is going to represent the daily resistance, so it will be very gainful to take profit around this area. However, if the USD/CAD pair breaks this level and closure below 1.2470, it will be a downside momentum what is rather convincing. The structure of the fall does not look corrective, thus the market will indicate a bearish opportunity below 1.2450. Then the support will become a resistance, so it will be a good sign to sell below 1.2450 with the first target at 1.2420. It will call for a downtrend in order to continue bearish trend towards 1.2387 to test the double bottom.

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for March 3, 2015 . Thanks for your support.

Technical analysis of NZD/USD for March 3, 2015 Market Analysis Review

Overview :

The NZD/USD pair will continue its rise straight from the level of 0.7449 (38.2% of Fibonacci retracement levels on the H4 chart). Moreover, it is probably going to form a double bottom at the same time frame. Therefore, the NZD/USD pair is showing signs of strength following the break of the highest level of 0.7450, so it will be a good sign to buy above the level of 38.2% of Fibonacci with the first target of 0.7542 and further to 0.7617 (it will act as a strong resistance, so it will be a good place to take profit). It should be also noted that this level of taking profit will coincide with 61.8% of Fibonacci retracement level. However, in case if a reversal takes place and the NZD/USD pair breaks through the support level of 0.7449, the market will decline further to 0.7403 in order to indicate a bearish market.

Trading recommendations :

According to the previous events, the price will be moving between the levels of 0.7613 and 0.7448.

Buy above the price of 0.7448 with the first target of 0.7545, it might resume to 0.7610.

Look for further downside with 0.7400 and 0.7375 targets below the levels of 0.7440/0.7435.

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 March 3, 2015 . Thanks for your support.

Technical analysis of USD/JPY for March 03, 2015 Market Analysis Review

Fundamental Outlook:
USD/JPY is expected to consolidate with bullish bias after hitting almost a three-week high of 120.21 this morning. USD/JPY is underpinned by the bullish dollar sentiment (ICE spot dollar index hit 11-year high 95.514 Monday, last 95.49 versus 95.45 early Monday) and the higher US Treasury yields (10-year at 2.085% versus 2.002% late Friday) as expectations prevail that the Federal Reserve could raise interest rates as early as midyear. The pair is also boosted by a rise in the US core PCE price index for January by 0.1% on-month and by 1.3% on-year, while the US ISM manufacturing PMI for February came in at 52.9, roughly meeting forecast of 53.0. USD/JPY is also supported by demand from Japan's importers, the ultra-loose Bank of Japan's monetary policy, and yen-funded carry trades amid positive investor risk appetite (VIX fear gauge eased 2.25% to 13.04; S&P 500 closed up 0.61% at 2,117.39 overnight). But the USD sentiment is dented by the surprise 1.1% on-month drop in the US January construction spending (versus forecast +0.1%), the bigger-than-expected 0.2% on-month drop in the US January personal spending (versus forecast -0.1%), and the smaller-than-expected 0.3% increase in the U. January personal income (versus forecast +0.4%). The USD/JPY gains are also tempered by the Japanese exports.

Technical comment:
The daily chart is positive-biased as the MACD and stochastics are bullish, five- and 15-day moving averages are rising.

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 120 and the second target at 120.35. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 119.60. A break of this target would push the pair further downwards, and one may expect the second target at 118.60. The pivot point is at 119.50.

Resistance levels:

120

120.35

120.75

Support levels:

119.10

118.60

118.25

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/JPY for March 03, 2015 . Thanks for your support.

Daily analysis of USDX for March 03, 2015 Market Analysis Review

On the daily chart we can see a huge bullish consolidation in progress, as the USDX is trying to perform a breakout at the resistance zone of 95.45. Bulls will be very strong when the instrument starts to form a higher high pattern above that territory. For now, we could recommend to wait for that breakout before resuming buy orders on the USDX.

The resistance level of 95.52 on the H1 chart is still solid and the USDX stays alive above the support level of 95.31. This shows us a proof of the current bullish bias's strengthening on the intraday charts. The 200 SMA is bullish and we expect more bullish rallies on this instrument, but first, we would like to see the breakout on that resistance zone.

Daily chart's resistance levels: 95.45 / 96.96

Dailychart's support levels: 94.18 / 93.02

H1 chart's resistance levels: 95.52 / 96.63

H1 chart's support levels: 94.02 / 93.87

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD index breaks through with a bullish candlestick; the resistance level is at 94.38, take profit is at 94.87, and stop loss is at 94.41.

Daily analysis of GBP/USD for March 03, 2015 Market Analysis Review

Bears are those who affect the current movements in the GBP/USD pair on the daily chart again, as the pair is trading lower and still below the resistance level of 1.5491. One could expect a fall to the support level of 1.5247, but the GBP/USD pair will continue to fall breaking that support zone in the coming days. The MACD indicator is entering to a negative territory.

An intraday outlook shows that the GBP/USD pair will find a solid support at the 1.5340 level, because that zone have been showing strength during the last week. At this point, the pair is trading below the 200 SMA and the H1 chart is showing a more solid bearish trend, but the GBP/USD pair could eventually test the resistance level of 1.5413 again.

Daily chart's resistance levels: 1.5761 / 1.5957

Dailychart's support levels: 1.5491 / 1.5247

H1 chart's resistance levels: 1.5413 / 1.5455

H1 chart's support levels: 1.5340 / 1.5257

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 1.5413, take profit is at 1.5455, and stop loss is at 1.5370.

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For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of GBP/USD for March 03, 2015 . Thanks for your support.

Technical analysis of USD/CHF for March 03, 2015 Market Analysis Review

Fundamental overview:
USD/CHF is expected to consolidate with bullish bias after hitting a six-week high of 0.9598 on Monday. It is underpinned by bullish dollar sentiment, negative Swiss interest rates, and the threat of the Swiss National Bank CHF-selling intervention. But the Swiss sentiment was boosted by a stronger-than-expected Swiss PMI 47.3 in February (versus forecast 46.5).

Technical comment:
The daily chart is positive-biased as the MACD and stochastics are bullish, although the latter is at overbought levels, five- and 15-day moving averages are advancing.

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 0.9630 and the second target at 0.9670. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9495. A break of this target would push the pair further downwards, and one may expect the second target at 0.9445. The pivot point is at 0.9530.

Resistance levels:

0.9630

0.9670

0.9690

Support levels:

0.9495

0.9445

0.9405

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CHF for March 03, 2015 . Thanks for your support.

Technical analysis of NZD/USD for March 03, 2015 Market Analysis Review

Fundamental overview:
NZD/USD is to trade in a lower range. It is undermined by the bullish dollar sentiment (ICE spot dollar index hit 11-year high 95.514 Monday, last 95.49 versus 95.45 early Monday) and the higher US Treasury yields (10-year at 2.085% versus 2.002% late Friday) as expectations prevail that the Federal Reserve could raise interest rates as early as midyear. The pair is also affected by contagion from the weak Aussie, a rise in the US core PCE price index for January by 0.1% on-month and by 1.3% on-year, while the US ISM manufacturing PMI for February came in at 52.9 roughly meeting the forecast of 53.0. But the NZD/USD losses are tempered by the positive investor risk appetite.

Technical comment:

The daily chart is mixed as the MACD is bullish, but stochastics turned bearish at overbought levels. Bearish outside-day-range pattern was completed on Monday.

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 0.7570 and the second target at 0.7615. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.7470. A break of this target would push the pair further downwards, and one may expect the second target at 0.7430. The pivot point is at 0.7510.

Resistance levels:

0.7570

0.7615

0.7655

Support levels:

0.7470

0.7430

0.7

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Technical analysis of GBP/JPY for March 03, 2015 Market Analysis Review

Fundamental overview:
GBP/JPY is expected to trade with bullish bias. It is supported by the positive investor risk appetite, buoyant USD/JPY undertone and demand from Japan's importers. But the GBP/JPY gains are tempered by the weak EUR/USD undertone and the Japanese exports. The GBP/JPY losses are also tempered by the pound demand on buoyant GBP/JPY cross amid positive investor risk appetite.

Technical comment:

The daily chart is mixed as the MACD is bullish, stochastics is turning bullish at oversold levels, but five-day moving average is below 15-day moving average and is declining.

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 183.35. A break of that target will move the pair further downwards to 182.90. The pivot point stands at 184.50. 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 185.05 and the second target at 185.70.

Resistance levels:

185.05

185.70

186.15

Support levels:

183.35

182.90

182.50

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#USDX technical analysis for March 3, 2015 Market Analysis Review

The Dollar index remains in a bullish trend in all time frames. After the buy signal had been generated in the area of the triangle breakout, the Dollar index was not pushed back below the breakout area. We saw a back test of the breakout area and now we see the index making higher highs and higher lows.

Red lines=triangle pattern

The Dollar index is above the Ichimoku cloud and is in a bullish trend since the breakout above 95 where the upper triangle boundary was. Trend is bullish as long as price is above 94. I continue to expect a breakout towards new highs near 97-98.

The monthly chart of the Dollar index is fully bullish. Strong resistance is at 95.80-96 where the 50% retracement is found. I expect this level to be broken and the Dollar index to move towards the 61.8% retracement over the coming weeks. Target is 100-101.

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Gold technical analysis for March 3, 2015 Market Analysis Review

Gold price has made a strong reversal yesterday towards the support of $1,200. The short-term trend is unclear for gold, but there is an increased chance of a continued bounce towards the 38% retracement of $1,235.

Gold price, as shown on the 4-hour chart above, is inside the Ichimoku cloud and above the green support area of $1,188-$1,200. As long as gold price is above the green support area, I would expect gold price to bounce towards the 38% Fibonacci retracement at least.

Red line = support

Gold price on the weekly chart, as shown above, remains in a bearish trend and below the kijun-sen resistance (yellow line). However, as long as the price is above the red line support, I would expect gold price to bounce above the kijun-sen (yellow line) towards the tenkan-sen (red line) at least.

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Technical analysis of USD/CAD for March 3, 2015 Market Analysis Review

General overview for 03/03/2015 09:40 CET

The recent wave development might be labeled in two different ways and both of them are bullish. The difference between them is the range of corrective wave c green of wave (ii) green. There is the key level for both counts at the level of 1.2474, because any violation of this level would invalidate the alternative count and made the corrective decline more deeper than it is now. Nevertheless, the wave progression looks pretty bullish so far and any breakout above weekly pivot at the level of 1.2515 and above the golden trend line is going to support a bullish view.

Support/Resistance:

1.2367 - WS1

1.2447 - Intraday Support

1.2474 - Intraday Support|Key Level|

1.2515 - Weekly Pivot

1.2564 - Intraday Resistance

1.2600 - Dynamic Trend Line Resistance

Trading recommendations:

Daytraders and swingtraders should consider opening buy orders from the current market levels with SL below the level of 1.2474 and TP open for now.

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