EUR/AUD intraday technical levels and trading recommendations for June 9, 2014 Trend News

By breaking down price level of 1.5175, the Double Top pattern could not only achieve its projection target at 1.4820-1.4800, but it also confirmed a bigger Head and Shoulders pattern.

The bears managed to break down 1.4950 corresponding to 50% Fibonacci level which exposed the price level of 1.4750 (61.8% Fibonacci) on March 10.

Previously, a bullish pull-back was initiated off 1.4670 ( around 61.8% Fibonacci ). Two bullish spikes above 1.4950 (50% Fibonacci level on the daily chart) were executed. However, the bulls failed to pursue the bullish breakout leading to failure of the bullish breakout attempt.

Since then, the pair has been moving downwards within the depicted RED channel as a part of the larger BLUE bearish channel as well.

Moreover, Intraday support zone around 1.4750-1.4660 failed to provide enough support for the pair. Instead, bearish breakdown took place pushing towards 1.4500.

Overall, the daily chart suggested bearish tendency especially when the daily candlesticks maintained closures below 1.4700.

On the other hand, the price zone above 1.4570-1.4520 should be watched for significant bullish price action as it paused the bearish momentum once before.

Bearish breakdown of 1.4560-1.4520 allows the bears to initiate a quick movement towards 1.4475 and probably 1.4420 where important weekly levels are located.

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via EUR/AUD intraday technical levels and trading recommendations for June 9, 2014 . Thanks for your support on EUR/AUD intraday technical levels and trading recommendations for June 9, 2014

USD/CAD intraday technical levels and trading recommendations for June 9, 2014 Trend News

Since the USD/CAD bulls failed to show enough momentum above 1.1200 during the last visit on March 20, the pair has been down trending within the depicted bearish channel which managed to push towards price zone of 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart) for few times.

Although previous daily closure below 1.0920 took place, it didn't take long time to get a bullish engulfing daily candlestick as a bullish reaction on the next day pushed the pair again towards 1.1000.

Later on, the price zone of 1.0875-1.0830 (extending down to 61.8% Fibonacci level and the lower limit of the ongoing movement) provided significant bullish pressure.

The market has shown a significant bullish recovery around 1.0830 (bullish engulfing daily candlestick) aiming to push higher towards 1.0910-1.0950 where significant bearish pressure was previously applied on March 21.

As expected, a bullish visit towards 1.0940 (the upper limit of the ongoing congestion zone) took place shortly after as we mentioned in previous articles.

As we see, the pair is facing temporary resistance around these levels. A bearish corrective movement is expected to take place towards 1.0900 and 1.0888 ( depicted on the 4H chart ) to collect more buyers to allow a bullish breakout above 1.0950 to take place after a long bullish rally that took place after bullish breakout above the depicted bearish channel happened.

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via USD/CAD intraday technical levels and trading recommendations for June 9, 2014 . Thanks for your support on USD/CAD intraday technical levels and trading recommendations for June 9, 2014

Technical analysis of EUR/JPY for June 09, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair has rallied through the 140.00 levels, taking out resistance at 139.00 levels as seen here. The next resistance is at 141.00 levels and bulls would want to target after pulling back lower. Please note that 138.00 level remain key for a bearish reversal. Recommendations are to exit long and remain flat.

2 Support is at 138.00, followed by 136.00 and lower while resistance is at 141.00, followed by 142.50/143.50, 144.00 and 145.50 respectively.

3. The structure indicates that EUR/JPY bulls shall remain in control till prices stay above 138.00 levels.

Trading recommendations:

Remain flat for now. Aggressive setup could be to initiate short positions, stop above 141.00, target open.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/JPY for June 09, 2014 . Thanks for your support on Technical analysis of EUR/JPY for June 09, 2014

Technical analysis of GBP/CHF for June 09, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF touched 1.5131 levels intraday, only to reverse sharply towards 1.5000 levels again. It is more or less confirmed that the pair is ready to retrace lower towards 1.4720 levels as shown here. It is therefore recommended to remain short, risk remains at 1.5140/50 levels.

2. Immediate support level is at 1.4900, followed by 1.4780, 1.4650 and lower while resistance is at 1.5140/50 respectively.

3. The structure indicates that GBP/CHF rally from 1.4450 levels could be complete now and the pair is expected to retrace lower into 1.4700 levels.

Trading recommendations:

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

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via Technical analysis of GBP/CHF for June 09, 2014 . Thanks for your support on Technical analysis of GBP/CHF for June 09, 2014

#USDX technical analysis for June 9, 2014 Trend News

The daily reversal from the 81 price level was a very bearish sign for the trend in the Dollar index. Price has broken support levels as we explained in our previous analysis last week and is now preparing for a downward move. So we expect the Dollar index to be pushed below 80.

Short-term support is found at 80.35-80.25. This is the previous short-term low and the Ichimoku cloud support in the 4 hour chart as shown above. This is also the 38% Fibonacci retracement. I expect to see the index break those lows and move lower towards the 61.8% Fibonacci retracement. Short-term resistance is found at 80.70.

The daily reversal candle as shown in the Daily chart above is a very bearish indication of what we should expect. It is very similar to the bullish indication we were given at the bottom of this move with a similar daily bullish reversal candle just below the 79 price level. I expect the Dollar index to push lower towards the 79.75 longer-term support area. I'm bearish as long as price is below 81.

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via #USDX technical analysis for June 9, 2014 . Thanks for your support on #USDX technical analysis for June 9, 2014

Gold analysis for June 9, 2014 Trend News

Gold price remains above the $1,250 price level consolidating near the 38% Fibonacci retracement of the decline from $1,301. Gold price has short-term support at $1,245-40 and short-term resistance at $1,257. Short-term trend is still downwards, but it is very possible to see another leg upwards equal to the first from $1,240 that would push the precious metal towards $1,280.

Important support is found at $1,240. If broken we should expect Gold price to test $1,220-$1,200 support area. The short-term chart shows how Gold price is challenging the Ichimoku cloud. Moving inside the cloud will turn trend from down to neutral and could push Gold price towards our target of 50% Fibonacci retracement where the top of the cloud is now.

On a daily basis, Gold price could have formed a longer-term A-B-C-D parts of a large sideways triangle. This is another reason why I think we have seen a short- to intermediate-term bottom. If the low is in, we should expect a larger upwards move as part of wave E of the triangle. The target now is $1,330-340. An important signal that will confirm such a scenario will be if Gold price breaks above $1,290. So we see how crucial our target of $1,280-90 is, as mentioned above. The longer-term outlook for Gold is bearish, targeting a price near or even below $1,000.

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via Gold analysis for June 9, 2014 . Thanks for your support on Gold analysis for June 9, 2014

Technical analysis of USD/CAD for June 9, 2014 Trend News

General overview for 09/06/2014 08:00 CET

The corrective cycle in wave (ii) green of a larger wave C blue is getting more complex and time consuming. Currently the golden trendline provides the dynamic resistance but any breakout higher will be considered bullish. Please note that the small corrective cycle in wave *ii( green to the downside has not been finished yet and it needs one more wave to complete. This is why I indicated a possible downside levels penetration including the key level at the intraday support at the level of 1.0888. Only a clear breakout below this level will be considered bearish.

Support/Resistance:

1.0960 - Swing High

1.0947 - Intraday Resistance

1.0914 - Weekly Pivot

1.0903 - Intraday Support

1.0888 - Key Level

1.0868 - WS1

Trading recommendations:

Daytraders should consider opening short positions from current price levels with SL above the level of 1.0948 and TP at the level of 1.0903 and 1.0888.

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CAD for June 9, 2014 . Thanks for your support on Technical analysis of USD/CAD for June 9, 2014