Technical analysis of EUR/JPY for March 20, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY seems to be testing the recent low formed at sub 140.00 levels. It is recommended to remain long for now, risk remains at 140.00. A break of 140.50 should prove to be further bearish.

2. Immediate resistance is at 144.00 levels, followed by 145.50, while supports are spread through 139.00/136.50 (intermediary), followed by 134.00, 131.00 and lower respectively.

3. The structure reveals that so long as 140.50 holds, the bulls shall remain in control and push prices towards 145.50 and higher up.

Trading recommendations:

Remain long for now, set stop at 140.00, target is open.

Good luck!

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Technical analysis of GBP/CHF for March 20, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair has rallied back to test the support turned resistance line as expected. A turn lower is expected from 1.4650/70 levels now. It is recommended to initiate short positions and also look to add further at current level. Risk remains above 1.4700 at least.

2. Immediate resistance is at 1.4850, followed by 1.4950/60 and 1.5120, while support is spread through 1.4350, followed by 1.4200 and lower respectively.

3. The structure reveals that GBP/CHF should be headed south towards 1.4350 levels before a meaningful pullback occurs. Selling rallies should be preferred trade strategy.

Trading recommendations:

Remain short for now, stop is at 1.4710, target is 1.4350.

Good luck!

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Technical analysis of Silver for March 20, 2014. Trend News

Technical outlook and chart setups:

1. Silver is heading lower as per expectations. It is recommended to initiate long positions at $20.00 levels, which is also fibonacci 0.618 support for the entire rally from $18.75 to $22.30. Also the past resistance turned support criteria has been met at $20.50.

2. Immediate resistance is the $23.00 level, while supports are now at $20.00, followed by $19.00, $18.75 and lower respectively.

3. The structure reveals that Silver is heading towards bottom formation at $20.00 levels. It is recommended to initiate long positions towards at least $25.00 levels from there on.

Trading recommendations:

Flat for now. Look to buy around $20.00.

Good luck!

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Technical analysis of Gold for March 20, 2014. Trend News

Technical outlook and chart setups:

1. Gold is continuing its slide down for now and first support is now seen at $1,300.00 levels, which is the fibonacci 0.382 support as seen here. It is still recommended to remain flat and look to sell on a pullback towards $1,370.00 atleast.

2. Immediate resistance is at $1,388.00/95.00, followed by $1,410.00, while supports are spread through $1,320.00/$1,300.00, followed by $1,285.00, $1,245/50 and lower respectively.

3. The structure reveals that the metal is carving out a right shoulder for a potential inverse head and shoulder reversal. Minimum level of interest is $1,250.00/40.00.

Trading recommendations:

Flat for now.

Good luck!

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EUR/NZD analysis for March 20, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.6227 on average volume. Our previous analysis is still active. According to the daily chart we can observe weak supply on high volume, which is a sign that we may see further bullish movements. The EUR/NZD is in short- and mid-term bullish trend, so watch for buying opportunities on the dips and try to catch the bullish phase. I have placed Fibonacci levels to find upper stations and i got Fibonacci Retracement 38.2% at the price of 1.6234 and Fibonacci Retracement 61.8% at the price of 1.6325. To confrim potential bullish phase, we need to see strong demand on high volume on the market. Anyway, if the price breaks the level of 1.6085 on high volume, we may see testing of the level 1.6020 (Fibonacci expansion 100%) before any larger upward movement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6192

R2: 1.6214

R3: 1.6251

Support levels:

S1: 1.6119

S2 : 1.6097

S3: 1.6061

Trading recommendation: Be careful with selling the EUR/NZD pair since we got selling climax and weak supply according, to the daily chart.

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Technical analysis of EUR/JPY for March 20, 2014 Trend News

General overview for 20/03/2014 12:00 CET

On H4 time frame we can still see the golden ascending price channel that keeps the price action in the range. The breakout is needed here to confirm the farther market move. For the bears, the most important level is the invalidation line at the level of 140.21 because violation of this level will invalidate the bullish wave progression. For the bulls the most important level is the technical resistance at the level of 142.21 because violation of this level will make the recent highs available for test or breakout.

Support/Resistance:

143.78 - Swing High

142.52 - WR1

142.21 - Technical Resistance

141.47 - Weekly Pivot

140.21 - Invalidation Line

139.37 - WS1

Trading recommendations:

Wait for a clear breakout of one of the levels mentioned above.

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Technical analysis of USD/CAD for March 20, 2014 Trend News

General overview for 20/03/2014 11:00 CET

Due to wave overlaps the main count is indicating the top for wave 5 navy at the level of 1.1220 has been invalidated and new count has been made. This new count indicates more bullish wave progression from wave (B) purple low, but still shows the possibility of a current trend maturity as the five wave progression to the upside is almost done on both major and intermediate cycle degree. On daily chart we can see that five black waves to the upside are almost done and the same situation is on H4 time frame chart, where green impulsive wave development need only wave (v) green to the upside to finish the cycle. On H1 intraday time frame the main support for the price comes as the dynamic channel support at the level of 1.1206, just slightly below the intraday support at the level of 1.1230. Only a breakout below this support would expose the level of technical support at the level of 1.1150 to be tested. Otherwise more upside is anticipated.

Support/Resistance:

1.1270 - Swing High | 4 year's high |

1.1230 - Intraday Support

1.1206 - WR2

1.1150 - WR1 | Invalidation Line |

1.1096 - Weekly Pivot

Trading recommendations:

For swing traders - all bulls should consider a partial close of the long positions on the current market prices due to a possible major upside cycle completion.

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