Technical analysis of Silver for June 02, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver jumped through the level of $17.20 yesterday before pulling back sharply. The metal is seen to be trading around $16.70 at the moment, looking to resume its rally towards $17.30/40 levels at least. It is hence recommended to remain long with risk around $16.00. Also note that the pair has found support around the fibonacci 0.618 levels of the rally between $16.15 and $17.40 respectively. Immediate support is seen at the level of $16.50 (interim) followed by $16.15, $15.80, and lower. Resistance is seen at $17.30/40 followed by $17.70/80, $18.40/50, and higher respectively.

Trading recommendations:

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

Good luck!

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 Silver for June 02, 2015 . Thanks for your support.

USDX technical analysis for June 2, 2015 Market Analysis Review

The US Dollar Index is still in a bullish trend inside the upward sloping channel. My short-term view is bullish as long as the price is above 96.50. I believe we should expect one more new high at least before a larger pullback.

Black lines = bullish channel

The US Dollar Index is above the cloud support and inside the bullish channel. Support is at 97 and the next one is seen at 96.50 by the cloud. I believe we are near today's lows. So, I prefer open long positions at current levels with stops near support line at 96.50 or near 96.80 for short-term traders.

The weekly chart remains bullish as the price is above the tenkan-sen indicator. The US Dollar Index has reached an important low at 93.10. As long as we trade above this level, we should expect new highs towards 102-103 at least. A breakout below 93.10 will push the Index towards the cloud support at 86-87.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 USDX technical analysis for June 2, 2015 . Thanks for your support.

Technical analysis of Gold for June 02, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold rose through $1,204.00 yesterday before pulling back sharply. The metal is trading around $1,188.00/89.00 now testingt he trend-line support and prepearing to rally through at least $1,215.00. It is hence recommended to remain long for now with risk at $1,168.00. Immediate support is seen at $1,180.00 (interim) followed by $1,168.00, $1,162.00, and lower. Resistance is seen at $1,215.00 (interim) followed by $1,231.00, $1,235.00/40.00, and higher respectively.

Trading recommendations:

Remain long for now, stop is at $1,168.00, a target is open.

Good luck!

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 Gold for June 02, 2015 . Thanks for your support.

Gold technical analysis for June 2, 2015 Market Analysis Review

Gold price has bounced towards the short-term resistance at $1,200 as expected and got rejected. The price is below $1,190 again as bulls are not strong enough to break above $1,200. Support still holds the level of $1,180, but I do not believe it will last much longer. Time for a plunge towards $1,130-40 is getting closer.

Red line = support

Gold price reached the cloud resistance and got rejected. The price is trading below the cloud confirming the short-term trend remains bearish. The red trend-line support at $1,185-80 remains intact as price is trading around it. There is no clear break of support yet.

The weekly chart remains bearish as the price got rejected by the tenkan-sen yesterday and is trading below the cloud today. The upward move from $1,140 in 3 waves is corrective. Support is seen at $1,169. If bulls break that level, I will feel very confident about moving towards $1,130.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 technical analysis for June 2, 2015 . Thanks for your support.

Technical analysis of EUR/AUD for June 02, 2015 Market Analysis Review

The cross made a double bottom between 1.3735 and 1.3685 and changed the direction towards North. The cross made a double top at 1.4391 trading at 1.4325 compared to 1.4372 at Monday's session. The strong resistance is seen at 1.4450. Fresh buying is available above 1.4450 with targets at 1.4580. Intraday resistance is seen at 1.4391 and 1.4425. At yesterday's session, the cross took the support at 200Dema 1.4240. Below this, 1.4195 20Wsma was found. In the hourly chart, the cross made a double top at 1.4391. In case the price takes off 1.4391, bulls can reach 1.4425 and 1.4450 in the extreme case. Fresh buying looms above 1.4450. Intraday support is found at 1.4280 and 1.4250. The panic will be triggered below 1.4245 towards 1.4200 and 1.4160.

Trade: Selling below 1.4280 aim at 1.4250, 1.4200 and 1.4160 , risk buying above 1.4340 target 1.4390, 1.4420.

To contact the author of this analysis, please email- joseph.wind@analytics.instaforex.com

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 EUR/AUD for June 02, 2015 . Thanks for your support.

Technical analysis of USDX & USD/JPY for June 02, 2015 Market Analysis Review

USD dominates against major currencies at Monday's section. Manufacturing data boosted the US dollar bulls.

Economic activity in the manufacturing sector expanded for the 29th consecutive month in May. The overall economy grew for the 72nd consecutive month, the nation's supply executives said in the latest Manufacturing ISM Report.

The USDX is at 61.8 the fib level 97.78 from a peak to a low of 93.37. The 50Dsma has been providing support for 4 days. In case of daily close above 97.80, bulls will aim at a new high of 103.00. For intraday session, fresh buying is available above 97.80 with a target at 98.10 initially, 98.60 and 99.60 later. Earlier, we forecasted a break from the inverse head and shoulder aiming at 99.40, we advise the same today. Support is found at 96.60.

USD/JPY

The pair reached a high of 125.05 at today's Asian session. The pair has been moving higher in a correctional manner for 7 consecutivedays. It is an excellent move after a month of consolidation. The pair breached a 5-month consolidation range on the higher side. The nearest resistance is seen at 125.79 (December 2002 high). We expect the pair to touch 128.00/129.00.

For an intraday session, fresh buying is available above 125.10 with targets at 125.50 and 125.80.

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 USDX & USD/JPY for June 02, 2015 . Thanks for your support.

Technical analysis of USD/CAD for June 02, 2015 Market Analysis Review

The pair managed to close above the supply zone and above the 20Wsma. The pair changed the texture from selling to buying. The previous resistances acting as support now. The weekly support is found at 1.2430 and 1.2395. Until the price closes above 1.2390, use dips to buy. Bears can try to hit 1.2300 in case the price breaks below 1.2390. The nearest parallel resistance is seen at 1.2570. Fresh buying is advised above 1.2570. In case buying triggers, bulls will aim at 1.2650 an 1.2670 immediately. The monthly support is found at 1.2250.

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/CAD for June 02, 2015 . Thanks for your support.