Technical analysis of EUR/JPY for March 13, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair has taken out another stop at the 128.00 level, made low at the 127.63 level and pulled back sharply through the 129.00 level. The 4H chart is indicating a potential reversal from current levels, that could possibly extend through 137.50 level at least. It is still recommended to initiate 50% long positions at the current price (128.80/90) with risk at the level of 127.25. Immediate support is seen at 127.60 (interim) followed by 125.00 while resistance is seen through 130.00, followed by 132.00, 133.50/134, 137.50, and higher respectively.

Trading recommendations:

Initiate 50% long positions, stop at 127.25, target is 137.50.

Good luck!

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Technical analysis of GBP/CHF for March 13, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has hit fresh high at the level of 1.5200 yesterday before pulling back sharply. As seen here on the the 4H chart, the pair is bouncing off intermediary support trend line passing through the 1.4900/25 level at the moment. A bullish bounce here could attempt to push prices beyond the 1.5200 level and hence it is recommended to initiate 50% long positions with risk around 1.4750. Immediate support is seen at 1.4760 followed by 1.4650, 1.4600, and lower, while resistance is seen at 1.5200 (interim) followed by 1.5500 respectively.

Trading recommendations:

Initiate 50% long positions here, stop at 1.4750, target above 1.5200.

Good luck!

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Technical analysis of Silver for March 13, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver is seen to be trading above the $15.50 level for now and holding the fibonacci 0.786 support. Bulls are expected to regain control soon, untill prices stay above the $14.60/70 levels lows as seen here. It is recommended to remain long from fresh positions taken yesterday with risk at the lenel of $14.25. Immediate support is seen at the $14.50 level while resistance is seen at the $17.00 level, followed by $17.40/50, $18.40.50, and higher respectively. A push through the $17.00 level is still required to confirm that a higher low is in place for the metal.

Trading recommendations:

Remain long, stop at $14.25/30, target is open.

Good luck!

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Technical analysis of Gold for March 13, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is still seen to be testing the back side of the resistance trend line, which should provide enough support around the level of $1,147.00. Yesterday, an indecision candlestick pattern (doji)was formed, indicating that a reversal could be on the cards. A bullish morning star pattern is seen to be quite encouraging today and fresh long positions can be initiated as well. We recommend to hold long positions with risk below the $1,130.00 level for now. Immediate support is seen at $1,130.00 while resistance is seen at the level of $1,220.00. A push through the $1,220.00/25.00 levels would confirm that a low is in place, however a drop lower below $1,130.00 should be extremely bearish for the yellow metal.

Trading recommendations:

Remain long for now, stop at $1,130.00, target is open.

Good luck!

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Technical analysis of GBP/USD for March 13, 2015 Market Analysis Review

Trading recommendations :

• The market is likely to turn to bearish sentiment from the level of 1.4934 again. Moreover, the daily resistance to the GBP/USD pair is set at the level of 1.4940 in a short term. Therefore, it will be a good sign to sell below 0.14940 with the first target at 1.4850. It will call for downtrend in order to continue its bearish movement towards 1.4790 to form a new double bottom in the H1 chart. Nevertheless, the stop loss should never exceed your maximum exposure amounts; accordingly, the stop loss should be placed above the last bullish wave at the level of 1.5015.

Observations :

• According to the previous events, the GBP/USD pair is going to move between 1.4851 and 1.4934 today.


• It should be noted that the level of 1.4850 represents the double bottom.


• The resistance will be set at the level of 1.5015 this week.


• The support has already been placed at the price of 1.4847.


• We expect a new range about 95 pips today.


• The key level will be set at the level of 1.4900.

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Technical analysis of NZD/USD for March 13, 2015 Market Analysis Review

Overview :

• · The psychological price of the NZD/USD pair is seen at the level of 0.7400 today, and it is going to act as a daily pivot point. Moreover, the NZD/USD pair has formed a support at the level of 0.7343 and the area of 0.7305 is probably going to compose a double bottom. Hence the price of 0.7310 will form the last bearish wave and will act as a strong support for that. It should be noted that the market was so stable and the trend was also so clear since yesterday (uptrend), so it will be a good sign to buy above the level of 0.7310 with the first target at 0.7449 and further at 0.7533, which coincides with the ratio of 50% of Fibonacci retracement levels. The level of 0.7533 will act as a strong resistance today. It is likely to be a good place to take profit below the 0.7533 level. Therefore, the strong resistance will set at 0.7533 and minor support has already placed at the price of 0.7343. On the other hand, if reversal takes place and the NZD/USD pair breaks through the support at the level of 0.7308, then the market will lead to further decline towards the 0.7263 level. Also, it should be noted that we expect a range of 99 pips as uptrend from the level of 0.7350 towards the 0.7449.

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USDCAD Daily Analysis - March 13, 2015 Forex Analysis

USDCAD remains in uptrend from 1.2406, the fall from 1.2797 is likely consolidation of the uptrend. Support is at 1.2600, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.3000 area. On the other side, a breakdown below 1.2600 support will indicate that lengthier sideways movement in a range between 1.2352 and 1.2797 is underway, then deeper decline to 1.2450 area could be seen.

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USDJPY Daily Analysis - March 13, 2015 Forex Analysis

USDJPY failed to break below the upward trend line on 4-hour chart, indicating that the pair remains in uptrend from 118.23, the fall from 122.02 could be treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 125.00 area. Key support is now at 120.66, only break below this level could signal completion of the uptrend.

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AUDUSD Daily Analysis - March 13, 2015 Forex Analysis

AUDUSD broke above 0.7700 resistance, indicating that the downward movement from 0.7912 had completed at 0.7560 already. Further rise could be expected, and the target would be at 0.7850 area. Support is at 0.7560, only break below this level could trigger another fall towards 0.7000.

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GBPUSD Daily Analysis - March 13, 2015 Forex Analysis

GBPUSD's downward movement from 1.5551 extended to as low as 1.4849. Resistance is now at 1.5050, as long as this level holds, the downtrend could be expected to continue and next target would be at 1.4500 area. On the upside, a break of 1.5050 resistance will indicate that the downtrend is complete, then further rise to 1.5250 - 1.5300 area could be seen.

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EURUSD Daily Analysis - March 13, 2015 Forex Analysis

EURUSD remains in downtrend from 1.1450, the rise from 1.0494 is likely consolidation of the downtrend. Resistance is at 1.0700, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0200 area. On the upside, a break of 1.0700 resistance will indicate that the downtrend had completed at 1.0494 already, then the pair will find resistance around 1.0850.

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Technical analysis of USD/JPY for March 12, 2015 Market Analysis Review

Fundamental Outlook:
USD/JPY is expected to trade in a lower range. USD/JPY is underpinned by the bullish dollar sentiment (ICE spot dollar index hit near-12-year high 99.985 Wednesday, last 99.67 versus 98.55 early Wednesday) amid expectations that the Federal Reserve will abandon the term "patient" from its interest-rate statement next week and could raise interest rates from near zero as soon as June. Fed's James Bullard, in an interview with the Financial Times published Wednesday, warned that the end of the Fed's near-zero interest-rate policy is overdue given the rapid pace of improvement in the jobs market. USD/JPY is also supported by demand from the Japanese importers, and the ultra-loose Bank of Japan's monetary policy. The USD/JPY gains are tempered by the Japanese exports, lower longer-dated US Treasury yields (10-year at 2.108% versus 2.121% late Tuesday), selling of the yen crosses amid diminished investor risk appetite (VIX fear gauge rose 1.08% to 16.87, S&P 500 closed 0.19% lower at 2,040.24 overnight).

Technical comment:
The daily chart is positive-biased as the MACD is bullish, stochastics stays elevated at overbought levels, 5 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 122 and the second target at 122.50. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 120.60. A break of this target would push the pair further downwards, and one may expect the second target at 120.20. The pivot point is at 120.90.

Resistance levels:

122

122.50

122.75

Support levels:

120.60

120.20

120

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Technical analysis of USD/CHF for March 12, 2015 Market Analysis Review

Fundamental overview:
USD/CHF is expected to consolidate with bearish bias after hitting almost a two-month high of 1.0107 Wednesday. USD/CHF is underpinned by the bullish dollar sentiment, the negative Swiss interest rates, the threat of the Swiss National Bank to carry out CHF-selling intervention, and franc sales on the soft CHF/JPY cross.

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 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 0.9950. A break of that target will move the pair further downwards to 0.9875. The pivot point stands at 1.0065. 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 1.0120 and the second target at 1.0160.

Resistance levels:

1.0120

1.0160

1.02

Support levels:

0.9950

0.9875

0.9820

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Technical analysis of NZD/USD for March 12, 2015 Market Analysis Review

Fundamental overview:
NZD/USD is expected to trade in a higher range after hitting a five-week low of 0.7182 Wednesday. NZD/USD is supported by the fact that the Reserve Bank of New Zealand kept its policy rate at 3.5% as widely anticipated and said "future interest rate adjustments, either up or down, will depend on the emerging flow of economic data." NZD/USD is also boosted by the NZD-USD yield differential, and kiwi demand on cross trades versus major currencies. The NZD/USD gains are tempered by the bullish dollar sentiment, subdued investor risk appetite and soft commodity prices.

Technical comment:

The daily chart is mixed as the MACD bearish, 5- and 15-day moving averages are falling, but stochastics is turned bullish at oversold levels. Bullish hammer candlestick pattern was completed on Wednesday.

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 0.7450 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 0.7255. A break of this target would push the pair further downwards, and one may expect the second target at 0.72. The pivot point is at 0.7315.

Resistance levels:

0.7450

0.75

0.7550



Support levels:

0.7255

0.72

0.7150

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Technical analysis of GBP/JPY for March 12, 2015 Market Analysis Review

Fundamental overview:
GBP/JPY is expected to consolidate with bearish bias after hitting a 20-month low of 127.64 on EBS Wednesday. GBP/JPY is undermined by he soft EUR/USD undertone, diminished investor risk appetite and Japan's exports. The EUR/JPY losses are tempered by demand from the Japanese importers.

Technical comment:

The daily chart is negative-biased as the MACD is bearish, stochastics stays suppressed at oversold levels. Five- and 15-day moving averages are 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 180.15. A break of that target will move the pair further downwards to 179.50. The pivot point stands at 181.75. 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 180.15 and the second target at 179.50.

Resistance levels:

182.25

183.20

183.75

Support levels:
180.15

179.50

179

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Gold analysis for March 12, 2015 Market Analysis Review

Overview :

Since our last analysis, gold has been trading upwards. As we expected, the price has tested the level of $1,166.41 in a high volume. I have placed Fibonacci retracement to find potential resistance and have got Fibonacci retracemen 61.8% at the price of $1,164.00 (successfully rejected). My advice is to watch for potential selling opportunities after a retracement. If the price breaks the level of $1,150.00 (the long-term support), we may see even $1,047.00 (the long-term support).

Daily Fibonacci pivot points:

Resistance levels :

R1: 1,160.60

R2: 1,164.80

R3: 1,171.60

Support levels :

S1: 1,147.13

S2: 1,142.41

S3: 1,136.37

Trading recommendations: Watch for potential selling opportunities after a retracement.

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EUR/NZD analysis for March 12, 2015 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.4286 in a high volume. We can observe a successful rejection from our resistance level around the price of 1.4800. The short- and mid-term trends are bearish and my advice is to watch for potential selling opportunities after corrections. I found a range zone according to 30-minute time frame around the price of 1.4390-1.4300. According to the long-term time frames, we may see a possible testing of Fibonacci expansion 161.8% at the price of 1.3550.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4673

R2: 1.4749

R3: 1.4870

Support levels:

S1: 1.4431

S2: 1.4355

S3: 1.4234

Trading recommendations: Be careful when buying at this stage and watch for potential selling opportunities after a retracement (after bullish correction).

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Daily analysis of USDX for March 12, 2015 Market Analysis Review

The USDX had completed its pullback on the daily chart and still did not reach the bullish consolidation above psychological level of 100.00. The main target is seen at at the resistance level of 100.49 in this time frame. We expect that it will find support at the level of 99.19 for now. If the USDX breaks that zone, the next downside target is seen at the level of 98.01.

Our intraday trade idea worked well at the yesterday's session, as the USDX reached the resistance level of 100.01. Currently, the USDX is looking for support at the level of 99.13 after the pullback at the 100.01 level. There is a strong possibility of another fall to the support level of 97.93 because of corrective moves.

Daily chart's resistance levels: 99.19 / 100.49

Dailychart's support levels: 98.01 / 96.96

H1 chart's resistance levels: 99.13 / 100.00

H1 chart's support levels: 97.96 / 96.85

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 99.13, take profit is at 100.00, and stop loss is at 98.30.

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Daily analysis of GBP/USD for March 12, 2015 Market Analysis Review

GBP/USD is looking for a strong support at the level of 1.4948 and we can see a strong bearish momentum on the daily chart. That support zone is very important, as the GBP/USD pair has not broken it yet. In case the pair breaks that level, the next important lower low is seen the level of 1.4820.

During the wednesday session, the GBP/USD pair did a false breakout at the support level of 1.4948. It remains alive in the lower low pattern formation on the H1 chart now. That retracement was expected, as the pair was very bearish and it could lower into the oversold levels in minor timeframes. The next resistance is seem at the level of 1.5028.

Daily chart's resistance levels: 1.5086 / 1.5247

Dailychart's support levels: 1.4948 / 1.4820

H1 chart's resistance levels: 1.5028 / 1.5097

H1 chart's support levels: 1.4948 / 1.4891

Trading recommendations for today: Based on the H1 chart, place short (sell) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4948, take profit is at 1.4891, and stop loss is at 1.5010.

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Technical analysis of NZD/USD for March 12, 2015 Market Analysis Review

Overview :

• The market of the NZD/USD pair is continuing to show signs of strength following the break at the prices of 0.7260 and 0.7345. Therefore, the resistances of the NZD/USD pair have broken and were turned into supports since yesterday. Moreover, the pair has already formed strong support at the level of 0.7260. So, the market indicates a bullish opportunity at the levels of 0.7260 and 0.7345 with the first target of 0.7391 and continues towards 0.7449 which represents the ratio of 38.2% Fibonacci retracement levels. On the other hand, if the trend can break this level and close below 0.7345, it will be a rather convincing downside momentum. The structure of the fall does not look corrective, for that the market will indicate the bearish opportunity at the price of 0.7345. As a result, it will be a good sign to sell at this level with a range of 0.7345 - 0.7257, but it should be kept in mind that stop loss should never exceed your maximum exposure amounts.

Today:

• Major support will be set at the level of 0.7260


• Major resistance will be set at the level of 0.7450.


• We expect a new range about 73 pips.

Notes :

• If the trend is upward, the strength of the currency will be defined as follows: NZD is in an uptrend and USD is in a downtrend.


• Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.


• Fibonacci is in a range trade; it looks like the trend is trapped moving up or down. If you sell or buy in the long term, you will surely lose your profit.


• Stop loss should never exceed your maximum exposure amounts. So, your stop loss should be around 53 pips for each position.

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#USDX technical analysis for March 12, 2015 Market Analysis Review

The US Dollar index has reached our target of 100 and has made a sharp reversal towards 99. This sharp reversal is most probably a short-term correction and the trend will resume higher towards the 61.8% retracement at 101.50.

The US Dollar index has pulled back towards the tenkan-sen (purple line). Next support is at 98.15 at the kijun-sen (yellow line). The short-term trend remains bullish, although we are close to reversing the short-term trend to bearish if we break below 98.95.

The longer-term trend remains fully bullish. I still expect the US Dollar index to reach at least the 61.8% retracement at 101.50. Important monthly support is at 95. As long as the price is above that level, the long-term trend will remain bullish. Strong resistance is at 101.50. Bulls need to be extra careful as the rise from low 80's is very steep.

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Gold technical analysis for March 12, 2015 Market Analysis Review

Gold price tried to make an early bounce towards $1,165, but was rejected. The price remains inside the downward sloping channel. The short-term trend remains bearish. The longer-term trend also remains bearish as an important weekly top was formed at $1,303. We are probably inside a new downward move that will bring gold price to new lows near $1,000.

Orange lines = downward sloping channel

Gold price remains below the Ichimoku cloud, but early today we see the signs that some bulls are trying to push the price out of the bearish channel. Short-term resistance by the bearish channel is at $1,165; and by the kijun-sen (yellow line), at $1,175. The short-term trend remains bearish. Gold price has short-term support at $1,147. If it is broken, we could see a test of the lows of 2014 at $1,130.

The weekly chart remains bearish. There is no sign of an upward reversal. The first important weekly resistance is at $1,215. Support is at $1,130. Gold price has broken all short-term support levels and is making lower lows and lower highs. The trend is clearly bearish and we should expect a move towards the lows of 2014 to be tested. Most probably, gold price will make new lows in the longer-term towards $1,000.

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Technical analysis of EUR/USD for March 12, 2015 Market Analysis Review

Overview :

• Today, the EUR/USD pair has rebounded from the level of 1.0494 towards the high price at 1.0642. So, the pair has moved up to 148 pips today and set a strong support at the price of 1.05000. On the other hand, the resistance has been already placed at the level of 1.0666 on March 12, 2014. Additionally, the double top is also coinciding with the same price at the level of 1.0666. Moreover, the EUR/USD pair broke the daily pivot point, but the price is still around it. Also, it should be noted that the market is calling for bearish market for weeks; even the market was rebounded today. Hence, the trend moved sideways and the range seemed extensive up to the levels of 1.0642 and 1.0666. According to the previous events, the price of the EUR/USD pair has been still trapped between the levels of 1.0666 and 1.0500. Therefore, it will be advantageous to sell at the price of 1.0666 with the first target at 1.0543 (the level of 1.0540 is going to represent the daily pivot point). If the price can break 1.0540, it may resume to 1.0500. Nevertheless, stop loss should be always taken into account. So it will be profitable to set the stop loss above the double top at the price of 1.0739.

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Technical analysis of USD/CAD for March 12, 2015 Market Analysis Review

General overview for 12/03/2015 09:10 CET

Instead of making a corrective cycle to the downside yesterday, the market made another high in somehow extended wave (v) green to the upside and reversed right back into the old supply zone that should now provide some resistance. Nevertheless, the corrective cycle is currently being expected as we can see a double top formation on larger time frames (H4 time frame). The first intraday support for the corrective cycle is at the level of 1.2662 In case of a breakout lower, the next support is seen at the level of 1.2597. The bias is still bullish as long the low at the level of 1.2386 is not violated.

Support/Resistance:

1.2934 - WR3

1.2797 - Intraday High

1.2778 - WR2

1.2727 - WR1

1.2662 - Intraday Support

1.2597 - Intraday Support

Trading recommendations:

Daytraders should consider opening buy orders only if the level of 1.2797 is clearly violated with H1 candle close above this level. SL orders should be placed below the level of 126.62 and TP orders should be placed at the level of 1.2934.

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Technical analysis of EUR/JPY for March 12, 2015 Market Analysis Review

General overview for 12/03/2015 08:55 CET

The impulsive wave progression to the downside in the last wave 5 red looks like overextended. It means a sharp corrective counter-trend movement might happen soon. Any breakout above the intraday resistance at the level of 129.24 is the first clue that supports this view.

Support/Resistance:

127.63 - Intraday Support

128.12 - WS2

129.10 - WS1

129.24 - Intraday Resistance

130.72 - Intraday Resistance

Trading recommendations:

Daytraders should consider opening buy orders only if the level of 129.24 is clearly violated with H1 candle close above this level. SL orders should be placed below the level of 127.63 and TP orders should be placed at the level of 130.72.

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Technical analysis of EUR/USD for March 12, 2015 Market Analysis Review

When the European market opens, some economic data about the Spanish 10-year bond auction, the industrial production m/m, the French CPI m/m, and the German final CPI m/m will be released.The US is expected to release economic data on the 30-year bond auction, natural gas storage, business inventories m/m, import prices m/m, unemployment claims, retail sales m/m, and core retail sales m/m. So amid the reports, EUR/USD is likely to move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0599.

Strong Resistance:1.0593.

Original Resistance: 1.0583.

Inner Sell Area: 1.10573.

Target Inner Area: 1.0549.

Inner Buy Area: 1.0525.

Original Support: 1.0515.

Strong Support: 1.0505.

Breakout SELL Level: 1.0499.

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

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Elliott wave analysis of EUR/NZD for March 12 - 2015 Market Analysis Review

Technical summary:

We have seen an unexpected break below support at 1.4554, which has changed the wave configuration to a much more bearish structure. This more bearish count calls for a continuation lower to 1.4236 as the next downside target to end just wave iii. If support at 1.4236 is broken, wave iii will extend even further down to 1.3851, but we will be looking for support near 1.4236 for now. Short-term resistance is found at 1.4473.

Trading recommendation:

Our stop at 1.4560 has been hit. We will sell the EUR at 1.4450 with stop at 1.4500.

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Elliott wave analysis of EUR/JPY for March 12 - 2015 Market Analysis Review

Technical summary:

The decline in wave iii has been stronger than we first anticipated. We have adjusted our count slightly to the more bearish count, but our ideal downside target remains at 125.98. In the short term, we could see a correction towards 129.09 and maybe even slightly closer to 129.96 before the next downside pressure is seen in a series of waves three, four, and five.

Trading recommendation:

We are short EUR from 133.90 and will lower our stop to 131.00 and place our take profit at 126.25. If you are not short EUR yet, then sell near 129.96 with the same stop and take profit.

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Technical analysis and trading recommendations on GBP/USD for March 12, 2015 Market Analysis Review

GBP/USD

The pound sterling fell against USD & JPY after the weak manufacturing data. Total production output decreased by 0.1% in January 2015 compared with December 2014. There were increases in two of the main sectors with mining & quarrying output being the largest contributor increasing by 2.0%. The manufacturing output contracted by 0.5% in January 2015 compared with December 2014. The cable fell below the previous swing at 1.4950, made a low at 1.4894. Today, traders eye BoE Governor Carney's speech. Ahead of a batch of the key economic data, the cable is trading higher against USD & JPY. The UK is slowly approaching its general election scheduled in May. Market participants expect the pound to get under downward pressure. The monthly support is seen at 1.4810. In case, the price closes below 1.4950, we can expect 1.4800 in the medium term and 1.4350 in the longer term. The cross EUR/GBP is also weighing on the pound. The eurozone is the major trading partner of the UK. At yesterday's session, we recommend fresh intraday selling below 1.5020 with targets at 1.4990 and 1.4960. The cable made a low at 1.4894. Until the prices close below 1.4950, the bearish view remains in play for 1.4720 and 1.4560 initially. Until the prices close below 1.5130, the intra-month bearish view remains on play.

Resistance: 1.4950, 1.4990, 1.5030.

Support: 1.4894, 1.4850, 1.4800.

Trade: we recommend waiting for a rise to sell with sl 1.5030.

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Technical analysis and trading recommendations on GBP/JPY for March 12, 2015 Market Analysis Review

The pound sterling fell to a 1-month low against the yen after yesterday's UK's disappointing data. Beside BOJ Shirai said, "In my view, given that QQE was already expanded in October 2014, a temporary reduction in the core CPI inflation is acceptable as long as the underlying price developments and recovery process in domestic demand continue. Nevertheless, the timing of an inflation rate approaching 2 percent now entails greater uncertainty, including the possible delay from the Bank's latest forecast."

In addition, even though the BoJ economic growth outlook for 2014 has been revised sharply downward, it is clear that Japan's economy is currently in a far better shape than it was before the QQE introduction.

At yesterday's session, the cross fell below 100Dsma and 50Dsma, but eventually managed to close above 50Dsma. The near- and short-term outlook remains bearish. On a weekly basis, the cross closes below 20Wsma and is trading below it. The parallel support is set at 180.10. A descending trend line helped the pair to push above 50Dsma at yesterday's session. Until the price closes below 181.65, the bearish view remains in play. Weekly resistance seems at 182.60. At yesterday's session, we recommended buying with sl 182.10 with targets at 182.80 and 182.90. The pair made a high at 183.10 and was sold-off. In case the price closes below 181.00, a steep fall will ignite. The pair made an intraday high below 181.00, but managed to close above it. We advise traders to remain calm, until we get a clear picture. Hope today we can get the clear picture towards 180.00, 176.50 or 182.60 on the higher side.

Trade: buying above 181.65.

Selling below 181.00.

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Technical analysis of USD/JPY for March 12, 2015 Market Analysis Review

In Asia, Japan is expected to release data on the consumer confidence, tertiary industry activity m/m, and the BSI manufacturing index. The US will publish economic data about results of a 30-year bond auction, natural gas storage, business inventories m/m, import prices m/m, unemployment claims, retail sales m/m, and core retail sales m/m. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 122.19.

Resistance. 2: 121.96.

Resistance. 1: 121.27.

Support. 1: 121.42.

Support. 2: 121.19.

Support. 3: 120.95.

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

The material has been provided by InstaForex Company - www.instaforex.com



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Technical analysis of Silver for March 12, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver has dropped lower into the $15.25 area, taking our stops out at $15.50 yesterday before puling back. Please note that the metal is still supported by fibonacci 0.786 around $15.46 as depicted here. It is still recommended to initiate fresh long positions with risk at $14.40. A bullish reversal here is likely to keep the overall structure intact and push prices higher towards $19.00 and $21.00 levels respectively. Immediate support is seen at $14.60/70 while resistance is seen at $17.00 levels followed by $17.40/50, $18.40/50 and higher respectively.

Trading recommendations:

Initiate fresh long positions, stop at $14.40, target is open.

Good luck!

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Technical analysis of Gold for March 12, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold had tested previous lows at $1,146.00/47.00 levels yesterday before pulling back as seen here. The yellow metal is trading at $1,153.00 at the moment, just below the fibonacci 0.786 support at the level of $1,168.00. The metal is still testing a back side of the resistance trend line, which should act as support now. Only a drop below $1,130.00 should be a reason to worry. For now, it is recommended to remain long with risk at $1.130.00. Immediate support is seen at $1,145.00/46.00 levels followed by $1,130.00 and lower, while resistance is seen at the level of $1,220.00 followed by $1,285.00, $1,307.00, and higher respectively.

Trading recommendations:

Remain long, stop at $1,130.00, target is open.

Good luck!

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Technical analysis and trading recommendations on EUR against USD, YEN for March 12, 2015 Market Analysis Review

EUR/USD

The euro plummeted to a new low against the USD at 1.0511. It's a fresh 12-year low. After Draghi's speech during yesterday's session, the pair started a downward journey again. According to Draghi, in January the ECB decided to expand its asset purchase programme to include government bonds after it became clear that there was a need for more monetary stimulus. The EUR/USD pair has lost 30% from the recent peak. Draghi said, inflation is expected to remain very low or negative in the months ahead mainly due to the sharp drop in oil prices. However, despite this fact an inflation rate is likely to move closer the ECB's inflation target over the coming years and reach 1.8 per cent in 2017. The euro fall is accelerated against the US dollar day by day. The pair has broken all major supports.

Upcoming events.

Today, traders eye German Bundesbank President Weidman speech. French and German CPIs are also due. Besides, US core retails, retail sales, and unemployment claims will be published today. We are expecting an uptick on Core retail sales and retails sales from the negative zone.

Technical view.

Ahead of the big data, the euro is trading lower against USD, GBP & AUD. At yesterday's session, we recommended 1.0560 and 1.0530 in the near term. The EUR/USD pair made a low at 1.0511. Eventually, it can go below 1.0000. The prices are closed and trading far below hourly moving averages. Until prices close below 1.0.860, use every rise to sell this week. The weekly resistance is found at 1.0780. Forget buying, until the price closes below 1.0860 on a positional basis. The longer-term target seems at 0.9000 in case prices close below 1.0760 on a monthly basis. The downtrend remains strong. We are recommending lower targets initially at sub 1.1000 and later 0.9000. At yesterday's session, we recommended fresh intraday selling below 1.0680 with targets at 1.0600 and 1.0575. The pair made a low at 1.0511.

Resistance: 1.0740, 1.0780, 1.0825.

Support: 1.0680, 1.0600, 1.0560.

Trade: use a rise to sell. Intraday, selling below 1.0680.

EUR & JPY

The cross broke the previous swing low. At yesterday's session, the cross fell below 200WEma, 200Msma, and 200Mema. These factors represent more noise than voice. The nearest support seems at 126.60, 125.60, and 125.00. At yesterday's session we advised in case, the price closes below 129.00, bears can challenge 128.00 and 125.00 in the near and short term. The cross fell below 127.60. The lowest lows and lower highs have been developing on the h4 chart, suggesting more room for a downside is yet to come. We initially advised selling at 132.35 with a target at 129.00 and again recommended yesterday below 129.00 with targets at 128.00, 125.00, and even 122.50. Besides at yesterday's Asian session, we recommended risky buying with sl 129.00 which was taken off. Intraday resistance seems at 129.00 and 130.15. Support is found at 127.80 and 127.60. The pair held at 138.00% the fib level at yesterday's session on the h4chart. We recommend fresh selling only below 127.60 with targets at 126.10 and 125. Until the price closes below 130.15, the bearish view remains in play.

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Daily analysis of major pairs for March 12, 2015 Market Analysis Review

EUR/USD:

It is noteworthy that the EUR/USD pair has been able to breach the resistance line at 1.0600 to the downside, where one of the strongest bearish movements could be triggered this month. The great support line at 1.0500 seems to be the next target for bears. Should bears hold out long enough, the support line could be breached to the downside.

USD/CHF: This currency trading instrument has continued its slow and steady journey to the upside. The great psychological level at 1.0000 has already been breached to the upside as the price is currently battering the resistance level at 1.0100. Should bulls hold out long enough, the next target would be another resistance level at 1.0150.

GBP/USD: All attempts made by bulls to effect a bullish reversal in this market have been rendered useless. Yesterday, the price closed below the distribution territory at 1.4950, after testing the accumulation territory at 1.4900. With further selling pressure in the market, the accumulation territory would be breached to the downside.

USD/JPY: Although the outlook on this pair is bullish, there has not been a significant movement to the upside since yesterday. However, this tardy movement may change as some fundamental figures are expected today and they will have impact on the markets.

EUR/JPY: This currency trading instrument has plummeted by over 300 pips this week and it would continue doing so as long as the euro is weak. The price is below the EMA 11, which itself is below the EMA 56; and the RSI period 14 is below the level 50. This shows a Bearish Confirmation Pattern: the downtrend may continue.

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