Forecast of USDX for June 19, 2014 Trend News

USDX

The FOMC is optimistic about the US economy. The labor market indicators sign a further growth. In yesterday's meeting of the FOMC, they decided to cut another $10 billion from its quantitative easing program. The reduction brings the monthly bond purchases to $15 billion mortgage and $20 billion treasuries.

The USD index drifted to 80.35 levels and closed below the 200-day EMA. As we discussed in our previous articles the index made a double top at 80.71 levels. The price is forming a small base around 80.35 levels. The index movement is framed between 80.35-80.71 levels. On the upper side, the price has resistance between 80.67-80.71, above this, it can fly up to 81 and 81.30 levels. On a positional basis, if the price closes the week above 81, it can extend its up move to 82.50 and 84 levels. On the down side, it has support between 80.35-80.30 levels, breaking below 80.30, it can take another support at 80.24 levels. Breaking below 80.24, it can correct to 80.17 and 80.08 levels. A day close below 80.08, the bears will tighten their grip for a correction.

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Technical analysis of Silver for June 19, 2014 Trend News

Technical outlook and chart setups:

1. Silver is seen to be breaking out of trend line resistance as seen here. The confirmation is above $20.00 levels though. Recommendations for now is to remain short with risk around $20.40 levels.

2. Support is seen at $19.40, followed by $19.00, $18.60 and lower while resistance is seen at $20.40, followed by $21.70 and higher respectively.

3. The structure indicates that Silver might be turning bullish; a break of $20.40 would confirm though.

Trading recommendations:

Remain flat (conservative trade setups). OR remain short with stop at $20.40.

Good luck!

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Technical analysis of EUR/USD for June 19, 2014 Trend News

When the European market opens, some economic news will be released such as Eurogroup Meeting. The US will release the economic data too such as the Unemployment Claims, Philly Fed Manufacturing Index, CB Leading Index m/m, Natural Gas Storage, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3654.

Strong Resistance:1.3646.

Original Resistance: 1.3633.

Inner Sell Area: 1.3620.

Target Inner Area: 1.3588.

Inner Buy Area: 1.3556.

Original Support: 1.3543.

Strong Support: 1.3530.

Breakout SELL Level: 1.3522.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3543 and 1.3633. The rate is accompanied by strong support at 1.3530 and by 1.3646 as strong resistance. If EUR/USD breaks out and closes below the 1.3522 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3654 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 1.3556 and at 1.3620, a SELL position. In this case both targets should be placed at the level of 1.3588. Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group http://instaforex.com

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.

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Technical analysis of USD/JPY for June 19, 2014 Trend News

In Asia, Japan will release the All Industries Activity m/m, and the US will release some economic data such as Unemployment Claims, Philly Fed Manufacturing Index, CB Leading Index m/m, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during the day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.47.

Resistance. 2: 102.27.

Resistance. 1: 102.07.

Support. 1: 101.82.

Support. 2: 101.62.

Support. 3: 101.42.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.42) and resistance 3 (102.47). 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 InstaForex Group InstaForex 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 EUR/JPY for June 19, 2014 Trend News

Technical outlook and chart setups:

1. The Eur/JPY seems to be facing resistance just ahead of the fibonacci 0.618 levels as seen here. The pair could reverse from 138.50 levels, towards fresh lows. Recommendations are to initiate short positions here, risk remains 140.00.

2. Support is seen st 138.00 levels (interim), followed by 136.50, 134.00 and lower, while resistance is at 140.00, followed by 141.00, 142.50/143.00 and higher respectively.

3. The structure indicates that EUR/JPY might reverse from 138.50 levels. A break below 138.00 could be extremely bearish for the pair, towards 132.00 levels.

Trading recommendations:

Remain short now, stop at 140.00, target is open.

Good luck!

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Technical analysis of GBP/CHF for June 19, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair is setting for for further correction towards at least 1.5100 levels from here on. Recommendations are to remain short, risk remains above 1.53 for now. A bullish bounce around 1.5090/1.5100 could be bought again.

2. Support is seen at 1.4900/50, followed by 1.4780, 1.4650, 1.4550 and lower while resistance is at 1.5300 respectively.

3. The structure indicates that GBP/CHF bears could remain in control till the corrective fall towards resistance turned support level around 1.5100 levels.

Trading recommendations:

Remain short, stop above 1.5300, target is 1.5100.

Good luck!

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Technical analysis of AUS/NZD for June 19, 2014 Trend News

The pair has been in a down trend from 1.1029 levels. It has been on a down stream for the last 7 trading sessions. In yesterday's session, it took support exactly at the lower supporting trend line. Currently, it is facing strong resistance at 1.0790 (61.8 fib level). The daily Stochastics favors a pullback. The pair will get strong momentum above 1.0790 for 1.0830 and 1.0842 levels. On the down side, if the pair breaks the previous support at 1.0740, it can extend its red blanket up to 1.0687, and 1.0640 levels.

For an intraday purpose, the pair has support at 1.0768; below this, again it will become weak and look at another support at 1.0740 and 1.0725. The panic will be triggered below 1.0725 for 1.0687 and 1.0660 levels. On the north side, the resistance levels are at 1.0790-1.0795 and 1.0822 levels. Strong momentum above 1.0822 for 1.0833, and 1.0865 levels. The hourly RSI favors pullback from the oversold levels.

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