03/13/15 ~ Best and Easy Analyst News

Friday 13 March 2015

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

Fundamental Outlook:
USD/JPY is expected to range-trade. It is undermined by the weaker dollar sentiment (ICE spot dollar index last 99.19 versus 99.67 early Thursday) after a surprise 0.6% on-month drop in US February retail sales (versus forecast +0.2%). USD/JPY is also weighed by the lower shorter-dated US Treasury yields (2-year at 0.664% versus 0.688% late Wednesday) and Japan's exports. But the USD sentiment is soothed by fewer-than-expected U.S. jobless claims of 289,000 for the week ended on March 7 (versus forecast 305,000), a higher-than-expected on-month rise of 0.4% in U.S. February import price index (forecast +0.2%). USD/JPY downside is also limited by the yen-funded carry trades amid improved investor risk sentiment (VIX fear gauge eased 8.6% to 15.42; S&P 500 closed up 1.26% at 2,065.95 overnight) as the weak report on US retail sales gives the Fed more leeway to hold off before raising rates. USD/JPY downside is also tempered by demand from the Japanese importers, the ultra-loose Bank of Japan's monetary policy and positions adjustment ahead of the weekend.

Technical comment:
The daily chart is still 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 120.90 and the second target at 120.60. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 122. A break of this target would push the pair further downwards, and one may expect the second target at 122.50. The pivot point is at 121.65.

Resistance levels:

122

122.50

122.75

Support levels:

120.90

120.60

120.20

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EUR/NZD analysis for March 13, 2015 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.4324 in a high volume. We can observe a successful rejection from our resistance level around the price of 1.4465 (Fibonacci retracement 38.2%). 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. If the price breaks the level of 1.4290, we may see a possible testing of the level of 1.4175 (Fibonacci expansion 61.8%).

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4472

R2: 1.4521

R3: 1.4600

Support levels:

S1: 1.4315

S2: 1.4266

S3: 1.4188

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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For detail explanation and best discovery on daily market trends and news you may visit via EUR/NZD analysis for March 13, 2015 . Thanks for your support.

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

Fundamental overview:
NZD/USD is expected to consolidate with bullish bias after hitting a four-day high of 0.7442 on Thursday. Kiwi sentiment is boosted by the 5.2-point rise in seasonally adjusted BusinessNZ manufacturing index to 55.9 in February from the previous month. NZD/USD is also supported by the NZD-USD yield differential, weaker dollar sentiment, kiwi demand on the buoyant NZD/JPY cross amid reduced risk aversion, and kiwi demand on the soft EUR/NZD, GBP/NZD crosses and on the buoyant NZD/CAD and NZD/CHF crosses. The NZD/USD gains are tempered by kiwi sales on the buoyant AUD/NZD cross and positions adjustment ahead of the weekend.

Technical comment:

The daily chart is mixed as the MACD is bearish, but stochastics is bullish at oversold levels.

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 0.7380 and the second target at 0.7445. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.7215. A break of this target would push the pair further downwards, and one may expect the second target at 0.7180. The pivot point is at 0.7275.

Resistance levels:

0.7380

0.7445

0.75

Support levels:

0.7215

0.7180

0.7150

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of NZD/USD for March 13, 2015 . Thanks for your support.

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

Fundamental overview:
GBP/JPY is expected to trade in a lower range.It is underpinned by positive investor risk sentiment, the stronger EUR/USD undertone and demand from the Japanese importers. The GBP/JPY gains are tempered by Japan's exports and positions adjustment ahead of the weekend.

Technical comment:

The daily chart is mixed as the MACD is bearish, five- and 15-day moving averages are declining, but stochastics is turning bullish at oversold levels. Inside-day-range pattern was completed on Thursday.

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 178. A break of that target will move the pair further downwards to 177.25. The pivot point stands at 180.16. 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 180.80 and the second target at 181.75.

Resistance levels:

180.80

181.75

182.35

Support levels:
178

177.25

176.75

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/JPY for March 13, 2015 . Thanks for your support.

Gold analysis for March 13, 2015 Market Analysis Review

Overview :

Since our last analysis, gold has been trading downwards. As we expected, the price has tested the level of $1,151.22 in a high volume. I have placed Fibonacci retracement to find potential resistance and have got Fibonacci retracement 61.8% at the price of $1,164.00 (successfully tested). My advice is to watch for potential selling opportunities after a retracement. According to the H4 time frame, we can observe supply in a high voume. If the price breaks the level of $1,150.00 (the long-term support), we may see a potential testing of the level of $1,143.00 and $1,139.00.

Daily Fibonacci pivot points:

Resistance levels :

R1: 1,161.98

R2: 1,166.28

R3: 1,173.23

Support levels :

S1: 1,148.08

S2: 1,143.78

S3: 1,136.83

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

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For detail explanation and best discovery on daily market trends and news you may visit via Gold analysis for March 13, 2015 . Thanks for your support.

Daily analysis of USDX for March 13, 2015 Market Analysis Review

The instrument is still inside the valid bullish pattern formation on the daily chart because the USDX is above the support level of 99.19 and it is trying to reach the next resistance at the level of 100.49. A breakout of that zone will unleash the bullish momentum and the USDX will reach the resistance level of 101.60 in the near term.

On the H1 chart the USDX is making a rebound at the support level of 99.13 and probably the instrument will test the resistance level of 100.01 again. As we expected, that zone will produce some pullbacks in the USDX because the bullish trend is currently reaching extreme zones and the instrument will start making more deep corrective moves eventually.

Daily chart's resistance levels: 100.49 / 101.60

Dailychart's support levels: 99.19 / 98.01

H1 chart's resistance levels: 100.01 / 100.88

H1 chart's support levels: 99.13 / 97.93

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 100.01, take profit is at 100.88, and stop loss is at 99.13.

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For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of USDX for March 13, 2015 . Thanks for your support.

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

On the daily chart the pair is still showing a solid bearish structure and it is getting ready for breaking the support level of 1.4820. Remember that low is very important as that level is a fresh multi-year low. For now, we could expect a bearish pattern formation and, more probably, some retracements because the GBP/USD pair will reach oversold levels in lower time frames soon.

The GBP/USD pair will finish developing a lower low pattern formation on the H1 chart because the pair is doing a breakout at the support level of 1.4844. To the downside, the pair will find a support at the zone of 1.4746. Also, GBP/USD will get more bearish momentum in the near term because the MACD indicator is still in a solid negative territory.

Daily chart's resistance levels: 1.4948 / 1.5086

Dailychart's support levels: 1.4820 / 1.4649

H1 chart's resistance levels: 1.4891 / 1.4948

H1 chart's support levels: 1.4844 / 1.4746

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 1.4844, take profit is at 1.4746, and stop loss is at 1.4940.

#USDX technical analysis for March 13, 2015 Market Analysis Review

The Dollar index bounced higher yesterday but I believe the downward correction might not be over yet. The longer-term trend remains fully bullish and we should soon see the index reach 101.50. But bulls need to be cautious as we could first visit 98-97.80 before we resume higher.

Red line = support

If support at 99 is broken, we should expect the price to move towards 98 and near the 38% retracement. I believe the downward correction might not be complete and bulls should be cautious as we could see another sharp decline similar to the first one from 100.

The monthly chart remains fully bullish. Despite the short-term pull back, I expect the target at 101.50 and the 61.8% retracement to be be achieved shortly. Important monthly support is at 94.50-95. As long as we trade above that level, bulls are in control.

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Intraday technical levels and trading recommendations for GBP/USD for March 13, 2015 Market Analysis Review

A bearish breakout below 1.5550 exposed lower targets. Bears have already pushed towards the price levels of 1.5050 and 1.4960 where the market has established another consolidation zone, which extended up to the price level of 1.5280.

This was followed by a transient uptrend maintained within the depicted channel. Bulls managed to push towards higher levels including 1.5550 (just below the weekly supply level).

Significant bearish pressure was applied around 1.5550 resulting in formation of multiple bearish engulfing daily candlesticks.

Demand level located around 1.5200-1.5230 was breached last week indicating a strong bearish tendency on the market. It is expected to provide significant supply at retesting.

GBP/USD bulls failed to defend their demand zone of 1.5170-1.5220, especially after the obvious bearish pressure that originated last week.

A quick bearish decline towards 1.5080 and 1.5000 took place shortly after the bearish breakdown of 1.5170.

Conservative traders should wait for a bullish pullback towards the price zone of 1.5000-1.5030 (recently established supply zone) for a low-risk sell entry. Stop loss should be located above 1.5130.

On the other hand, H4 persistence below the recent bottom at 1.4900-1.4890 enhances a further bearish decline. An initial bearish target would be located at 1.4800 (historical low).

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

Yellow metal is testing lower levels. Short lived bulls rally did not live up to expcectations. The metal price is under pressure amid mounting concerns of the Federal rate hike. Parallel support is seen at 1145.00 and 1140.00. Prices are falling for 9 consecutive days. Prices are trading at a 52-week low of 1147.00. The US dollar affects the metal price. The US dollar is likely to remain strong. The index shying at 100.00. Daily close above 100.00 leads to 101 and 101.30. SPDR GOLD TRUST positions are likely to reduce by 2.09 tons to 7501 tonnes compared to the previous day . At the today's Asian session, the metal is trading higher. We recommend selling below $1,147.00 with targets at $1,140.00, $1,137.00, $1,124.00, $1,120.00, $1,115.00, and $1,100.00. The physical demand is weak as well. China's physical buying is drying up and signalling more room for the downside. The intraday support is found at $1150.00 and $1,147.00. Resistance is seen at $1,161.50 and $1,167.00. The weekly resistance is set around $1,168.00. We recommend intraday buying above $1,168.00.

Trade: selling below $1,150.00

Buying above $1,168.00.

Gold technical analysis for March 13, 2015 Market Analysis Review

Gold price has held support at $1,147 and is trying to make a breakout above the downward sloping channel. The price has moved above the channel but got rejected at the first short-term resistance at $1,165. Now, the price is testing the break out. Only a break above $1,165 could signal a move higher towards $1,200. The longer-term trend remains bearish.

Orange lines= downward sloping channel

Gold price continues to trade below the Ichimoku cloud. The trend remains bearish. Thre price got rejected at the kijun-sen indicator (yellow line) and did not manage to break above a yesterday's high at $1,165. A break above $1,165 will push Gold price towards $1,180 at least and most probably towards $1,200. If support at $1,147gets broken, it is likely to push price towards $1,130.

The weekly chart remains fully bearish with price approaching the 2014 lows at $1,130 with strong probabilities of breaking below them and pushing towards $1,000. The longer-term trend remains bearish as long as price is below $1,303.

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Intraday technical levels and trading recommendations for EUR/USD for March 13, 201 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 1400 pips since the beginning of 2015. The EUR/USD pair is pushing further below a significant twelve-year low around 1.0900 ( September 2003 low ).

Theoretical long-term bearish targets are likely to be located near 0.9450, especially after two bearish monthly closures below 1.2000 (January and February's candlesticks).

A bearish Flag pattern was established on the daily chart. The daily fixation below the price level of 1.1260 (minor consolidation range) confirmed that bearish pattern.

The obvious bearish breakdown of the weekly demand level at 1.1100 exposed lower targets around 1.0800.

Bearish persistence below 1.1100 (broken weekly low) enhanced the bearish side of the market.

Projection targets for the Flag pattern would be located around 1.0800 (already breached) and 1.0500 (yet to come).

On the other hand, conservative traders can wait for a bullish pullback towards 1.1100 (nearest supply level) for a low-risk sell position with Stop loss to be located above 1.1130.

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Technical analysis and trading recommendation of USD against CAD,YEN for March 13, 2015 Market Analysis Review

IMPACT OF USD– The US Census Bureau announced data on retail and food services sales for February that is down 0.6 percent compared to the previous month. Unemployment benefits dropped more than estimated. It shows the labor market is in development mode. In the week ending March 7, the advance figure for seasonally adjusted initial claims was 289,000, 36,000 below the previous week's revised level.

IMPACT OF CAD– The New Housing Price Index (NHPI) fell 0.1% in January as a result of lower negotiated selling prices. That was the first decrease in the national level since July 2010.

USD/CAD

Today, traders eye on the US PPI, consumer data, unemployment rate in Canada (mainly), and employment change.

The pair made a double top at 1.2798. Ahead of series of significant data, CAD is trading lower against USD. The USDX shied to the level of 100.00. A daily close above the 100.00 level leads to 101 and 101.30. Bulls must close above 1.2800 as soon as possible. Bulls can challenge 1.3000 and 1.3250 in case prices close above 1.2800. We advised caution near 1.3000 odd levels, it's a multi-month resistance. The intraday support is seen at 1.2680. Overall, the picture favours buying on dips. We have been recommending buying with sl 1.2350 with targets at 1.2695, 1.2800, 1.2965, and 1.3070 in the near and short term. The level of 1.2798 is done. Fresh buying above 1.2800 with targets at 1.2830, 1.2900, and 1.2965.

USD/JPY

Japan industrial production data yet to release today. Ahead of the data release, the yen is trading lower against the euro at the Asian session. The price is consolidating at a 8-year high. Today, the pair has opened on a bullish note. Intraday support was found at 121.20 and 121.00. We still opt to recommend buying on every dip. Now, we are revising the targets at 124, 125.00, and 125.75. The prices are making higher lows and higher highs on the h4 chart. Support has climbed from 119.80 to 121.00. It's a good sign for further room on the upswing. If the price closes above 121.85 on a weekly basis, we can see 128.00 as well. It's a one side move all the way to new highs. Another upswing looms above 122.0 with targets 123.00 and 123.20 in a day or two. Later, 124.00 and 125.00 are expected. Until a h4 candle closes above 120.80, a long trade remains in play. The overall picture favours buying on dips.

Trade: we remain buyers.

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GBP/USD intraday technical levels and trading recommendations for March 13, 2015 Market Analysis Review

Overview:

On February 5, initial bullish breakout above 1.5220 (previous consolidation range) took place. Shortly after, an ascending bottom was established around 1.5170-1.5200 indicating bullish sentiment of the market.

Projection target for this bullish breakout was already reached around 1.5550 where the previous DAILY bottoms were located (DAILY RESISTANCE).

Last week on Monday, an obvious breakdown of the lower limit of the depicted channel occurred, enhancing the bearish side of the market.

Significant bearish pressure was applied over the price levels of 1.5200 (R2) and 1.4950 (R1 = Broken Weekly Support).

Bearish persistence below 1.4950-1.5000 indicates a further bearish decline. Projection target for the recent bearish breakout would be located at 1.4700.

Trading recommendations:

Wait for a bullish pullback towards 1.4950-1.5000 for a low-risk SELL entry. SL to be set as daily closure above 1.5000. TP levels should be set at 1.4900, 1.4840 and finally at 1.4700.

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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 13, 2015 . Thanks for your support.

Daily analysis of major pairs for March 13, 2015 Market Analysis Review

EUR/USD: Indeed, this pair touched the support line at 1.0500, but a further downward slide was rejected as the price moved higher from there, going upwards by 180 pips. There is an ongoing battle between bulls and bears now. An important support line at 1.0500 should act as a deterrent to bears, and further rally is possible later this week or next week.

USD/CHF: The USD/CHF pair tested the resistance level at 1.0100, but it was not able to close above it. The price dived by 100 pips, testing the great psychological level at 1.0000. Again, the price could not close below that psychological level/ So, bulls have come in and are making attempts to push the price higher now.

GBP/USD: This currency trading instrument has continued to drop further and further. In fact, buying in this market is not a rational thing to do at the present. One should see any rally as short-selling opportunities. An accumulation territory at 1.4850 could end up being breached to the downside.

USD/JPY: Recently, we do not expect this market to move activly. However, the outlook remains bullish. The price is above the EMA 56 and the RSI period 14 is above the level of 50. The supply level at 122.00 is being watched, for the price may reach that place latter.

EUR/JPY: Like EUR/USD, the EUR/JPY cross has also made some weak attempt to rally – all in the context of a downtrend. This rally may be seen as another opportunity to sell short, for the market may come down lower from there. Unless the supply zone at 130.00 is challenged, present rallies are likely to be insignificant.

Elliott wave analysis of EUR/NZD for March 13 - 2015 Market Analysis Review

Technical summary:

The correction in wave iv will likely be complex and take up more time. We are looking for a move closer to 1.4445 and maybe even slightly higher towards 1.4560 before the next downside pressure towards 1.4135 that is expected. In the short term, only a break below minor support at 1.4337 indicates more downside pressure.

Trading recommendation:

As we expect a more complex correction to unfold, it is better to stay neutral for now.

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For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/NZD for March 13 - 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for March 13 - 2015 Market Analysis Review

Technical summary:

We have seen the expected minor correction to 129.09. Now, we should see the next decline to 126.51 in blue wave v and red wave iii. This is the last part of the decline towards the ideal target at 125.98. It is likely to be choppy, as a series of wave three, four, and five is developing. In the short term, a break below minor support at 128.17 confirms the decline towards 126.51, which again should be followed by a minor correction that should stay below 129.00.

Trading recommendation:

It is time to protect your profit by closeing in your stop as much as possible. We will move our stop lower to 129.55 and when support at 128.17 breaks, we will move stop lower to 129.10. Take profit will stay at 126.25

USD/CAD intraday technical levels and trading recommendations for March 13, 2015 Market Analysis Review

Overview:

The market looks overbought since bulls have pushed further above the upper limit of both depicted bullish channels as well as the 79.6% Fibonacci level. That is why the sideways movement was anticipated.

The nearest SUPPORT levels to meet the USD/CAD pair is located around 1.2620-1.2650 (upper limit of the confirmed wedge pattern), then 1.2300 (79.6% Fibonacci level) that already provided significant SUPPORT for successive weeks.

Successive lower highs were established within the wedge-pattern depicted on the DAILY chart. However, the market price action indicated an ongoing bullish breakout above 1.2600-1.2660.

Bullish persistence above 1.2650 - 1.2680 (recent highs) enhances further bullish advancement towards 1.2900 and 1.2960, as it confirms the continuation pattern.

Projection target for the wedge pattern would be roughly located around 1.3060 (last visited on March 2009).

Consider the other scenario if WEEKLY closure comes below the price zone of 1.2680-1.2650 (key-zone). If so, this would expose the next DAILY SUPPORT around 1.2350 and 1.2300 where the 79.6% Fibonacci level is located.

Trading recommendations:

Risky traders can benefit from the short-term bullish breakout above the wedge-pattern. T/P levels should be set at 1.2880 and 1.2960.

A bearish pullback towards 1.2600 will probably offer a valid BUY entry for those who missed the initial breakout.

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

General overview for 13/03/2015 09:20 CET

General overview for 12/03/2015 09:25 CET

A sudden and sharp corrective wave to the downside hit the lower levels of the price range, as anticipated, yesterday. Currently, this corrective cycle might be considered completed, but to confirm this assumption, the price must make another high above the level of 1.2797. Otherwise, this upward price progression might be only wave (b) green from the overall (a)(b)(c) corrective structure, and a lower level should be expected then. The bias is still bullish as long as the low at the level of 1.2386 is not violated.

Support/Resistance:

1.2934 - WR3

1.2797 - Intraday High

1.2778 - WR2

1.2728 - Intraday Resistance

1.2717 - WR1

1.2662 - Intraday Support

1.2597 - Intraday Support

Trading recommendations:

Daytraders should still 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.

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

General overview for 13/03/2015 09:20 CET

The corrective cycle to the upside started yesterday as anticipated. To continue with the upside wave progression, the price must break out above the intraday resistance at the level of 129.24 and head to the next resistance level of 130.72. In case of any failure here, the market will develop a more complex and time-consuming wave b green before bouncing to the upside.

Support/Resistance:

127.63 - Intraday Support

128.12 - WS2

129.10 - WS1

129.24 - Intraday Resistance

130.72 - Intraday Resistance

Trading recommendations:

Because the market is in the corrective cycle that takes some time to fully develop, daytraders should still 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 and trading recommendation of GBP against USD,YEN for March 13, 2015 Market Analysis Review

The pound fell against USD following the BOE governor Carney speech. The core inflation in the UK, currently around 1.4%, is likely to decline further in the coming months, reflecting the sterling's past strength and muted domestic cost growth. Core inflation rates in the euro area, US, and UK have declined by between three quartes and 1 percentage points since 2012. The cable grounded towards the lowest level since mid-2013. The cable made a low at 1.4851. The parallel support is seen at 1.4831 (March 2013 low) and 1.4810 (July 2013 low). In case the price close below these levels, it can extend its fall another 500 pips. The UK is slowly approaching its general election scheduled for May. Market participants expect the pound to get under downward pressure. We recommended selling with sl 1.5030 at the yesterday's session. The cable made a high at 1.5026 and fell to 1.4851. Today, we recommend fresh intraday selling only below 1.4800. Intraday resistance is seen at 1.4930. We recommend buying above 1.4930 with small targets at 1.5000 and 1.5020. Until the price close above 1.5030, use rise to sell remains in play.

The trading pattern is framed between 1.5030 and 1.4810 rounded to 1.4800.

Safe trade:

Buying above 1.4930

Selling below 1.4800

GBP/JPY

The pound sterling extending its 1-month low against the yen post Carney speech and disappointing data from the UK. Japan is expected to publish data about its industrial production today. The yen is trading lower against the pound ahead of this. 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. Parallel support is set at 180.10 rounded to 180.00. A descending trend line helped the pair to push above 50Dsma at the yesterday's session. Until the price closes below 181.65, the bearish view remains in play. We advised traders to remain calm in yesterday's session, until we get a clear picture. Hopefully, today we can get a clear picture of 180.00, 176.50 or 182.60 on the higher side. The pair is likely to choose on downside support 180.00. We forecasted a bearish head and shoulder pattern in the h4 chart, but we did not advise shorting aggressively. We concern about the pound against USD, not over the yen. In case the price closes below 180.00, the problem of the pound against yen is likely to arise. In this situation we can expect minimum 178 and 176.50.

Safe trade: Selling below 180.00

For risky traders- buying with sl 180.00

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

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When the European market opens, economic data on the German WPI m/m are going to be published.The US will release economic data about prelim UoM inflation expectations, prelim UoM consumer sentiment, the core PPI m/m, the PPI m/m. So, EUR/USD is likely to move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0677.

Strong Resistance:1.0670.

Original Resistance: 1.0660.

Inner Sell Area: 1.10650.

Target Inner Area: 1.0625.

Inner Buy Area: 1.0600.

Original Support: 1.0590.

Strong Support: 1.0580.

Breakout SELL Level: 1.0573.

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

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In Asia, Japan is going to release data on the revised industrial production m/m. The US is expected to release economic data about prelim UoM inflation expectations, prelim UoM consumer centiment, the core PPI m/m, and the PPI m/m. So, there is a big probability that 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: 122.03.

Resistance. 2: 121.79.

Resistance. 1: 121.56.

Support. 1: 121.27.

Support. 2: 121.03.

Support. 3: 120.79.