Technical analysis of EUR/JPY for June 2, 2014 Trend News

General Overview for 02/06/2014 09:30 CET

The impulsive wave progression in wave c purple of wave (ii) green looks completed and now any impulsive reaction to the downside will be considered as the first clue that the overall corrective cycle is finished and now downward cycle has been started. Moreover, a breakout below the supply breakthrough zone is bearish and next support level would be the weak golden trendline. Please notice that in alternate count the market might still go little bit higher before the reversal happens and this is valid for both intermediate and small internal cycles.

Support/Resistance:

139.50 - WR1

139.35 - Wave 2 High

138.95 - Intraday Resistance

138.73 - Weekly Pivot

138.60 - Intraday Support

138.50 - 138.57 - Supply Breakthrough Zone

138.11 - WS1

137.97 - Wave (i) green Low

Trading recommendations:

Daytraders should consider opening sell limit orders at the level of 138.93 with SL above the level of 139.15 and TP at the level of 138.73 with a possible extension to the level of 138.60.

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Technical analysis of USD/CAD for June 2, 2014 Trend News

General Overview for 02/06/2014 09:05 CET

The reaction from the level of technical support has been capped by the upper red channel line and price is now trying to breakout higher. The key level is intraday resistance at the level of 1.0854 and a breakout above is needed to confirm further impulsive wave progression. The next resistance level would be WR1 at the level of 1.0871 and a breakout higher would mean that supply zone will be tested. Please remember that this count is an attempt of (a)(b)(c) blue irregular flat wave progression in wave 2 black, so we are looking for wave (c) to go beyond the top of the wave (a). The specific target is at the H4 chart.

Support/Resistance:

1.0810 - WS1

1.0812 - 1.0821 - Technical Support

1.0836 - Intraday Support

1.0846 - Weekly Pivot

1.0854 - Intraday Resistance |Key Level|

1.0874 - WR1

1.0911 - WR2

Trading recommendations:

Daytraders should consider opening buy stop orders if the level of 1.0854 is broken with SL below the level of 1.0836 and TP at the level of 1.0874 .

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Technical analysis of EUR/USD for June 02, 2014 Trend News

When the European market opens, some economic news will be released such as German Prelim CPI m/m, Spanish Manufacturing PMI, Italian Manufacturing PMI, Final Manufacturing PMI.The US will release economic data too such as the Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3693.

Strong Resistance:1.3685.

Original Resistance: 1.3672.

Inner Sell Area: 1.3659.

Target Inner Area: 1.3627.

Inner Buy Area: 1.3595.

Original Support: 1.3582.

Strong Support: 1.3569.

Breakout SELL Level: 1.3561.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3582 and 1.3672. The rate is accompanied by strong support at 1.3569 and by 1.3685 as strong resistance.

If EUR/USD breaks out and closes below the 1.3561 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3693 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3595 and at 1.3659, a SELL position. In this case both targets should be placed at the level of 1.3627.

Official Analyst of InstaForex Group Insta Forex Group http://instaforex.com email: Arief.jakarta@indo.instaforex.com For more analysis go to: blog.mt5.com/arief My Profile: http://www.mt5.com/forex_analysis_award/profile/index/arief

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 USD/JPY for June 02, 2014 Trend News

In Asia, Japan will release the Capital Spending q/y and Final Manufacturing PMI, and the US will release some economic data such as Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices. So there is a big probability USD/JPY will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.45.

Resistance. 2: 102.25.

Resistance. 1: 102.05.

Support. 1: 101.80.

Support. 2: 101.60.

Support. 3: 101.40.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.40) and resistance 3 (102.45). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

Best regards,

Official Analyst of InstaForexGroup Insta Forex Group http://instaforex.com email: Arief.jakarta@indo.instaforex.com For more analysis go to: blog.mt5.com/arief My Profile: http://www.mt5.com/forex_analysis_award/profile/index/arief

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 June 02, 2014 Trend News

Technical outlook and chart setups:

1. Silver is seen to be trading in a falling wedge pattern on the weekly chart view presented here. A metal is formed constant supports around sub $18.00/20 levels as seen here. A break below $18.20 could be extremely bearish and push the metal through $17.00 and $16.00 levels respectively. Recommendations are to remain flat for now and await for a reaction here.

2. Support is at $18.00/20, followed by $17.00, while resistance is at $20.00, followed by $21.70, $22.30 respectively.

3. The structure indicates that Silver would bounce back if sub $18.00 levels hold. On the flip side, the metal could still form a lower low before reversing.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of Gold for June 02, 2014 Trend News

Technical outlook and chart setups:

1. Gold has slipped to lower levels and has remained just shy of $1,240.00 as seen here. A further push below $1,240.00 could bring in $1,230.00 levels into focus. Please note that fibonacci 0.786 support is passing through $1,230.00 region for now. Recommendations are to remain flat for now and watch for a reaction here.

2. Support is seen at $1,240.00, followed by $1,230.00, $1,210, and $1,180.00 while resistance is seen at $1,300.00 followed by $1,310.00, $1,330.00, $1350.00/60.00 and $1,388.00 respectively.

3. The structure indicates that Gold is still seeking support and bullish bounce just ahead of $1,240.00 region. Watch out for a reaction here.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of GBP/CHF for June 02, 2014 Trend News

Technical outlook and chart setups

1. The GBP/CHF pair reversed from 1.5120 levels last week, remaining just shy of 1.5130/40 resistance. Minimum implications are that the pair could fall towards 1.4700/20 levels. Intraday rallies should remain well capped below 1.5130/40 levels from here on.

2. Support is seen at 1.4900, followed by 1.4780, 1.4650 and lower, while resistance is seen at 1.5140 levels respectively.

3. The structure indicates that GBP/CHF still remains fairly in control of bears till prices remain below 1.5130 levels. 1.4700 levels would remain of interest.

Trading recommendations:

Remain short, stop at 1.5140/50, target is open.

Good luck!

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