Technical analysis of EUR/JPY for June 27, 2014 Trend News

General overview for 27/06/2014 08:30 CET

Despite the recent impulsive breakout below the golden trendline into the old bearish zone, there is still a possibility of an extended upside wave progression in corrective wave (c) blue of wave 2 black. This scenario is possible as long as the intraday support at the level of 137.90 is not clearly broken in impulsive fashion. That means the confirmation of impulsive bullish wave progression comes with the level of 138.47 breakout and then weekly pivot breakout as well. If these breakouts do not materialize, then the lower prices should be expected.

Support/Resistance:

137.34 - WS2

137.70 - Techncial Support

137.90 - Intraday Support

138.18 - WS1

138.47 - Intraday Resistance

138.53 - Weekly Pivot

138.91 - Technical Resistance.

139.36 - WR1

Trading recommendations:

Please keep an eye on both important invalidation/confirmation levels I have indicated on the chart. A breakout above 138.47 is bullish and long positions should be opened; a breakout below 137.90 is bearish and short positions should be opened.

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Short-term forecast and intraday recommendations on NZD/USD for June 27, 2014 Trend News

The kiwi moved to a three-month high trading at 0.8784 levels (previous high at 0.8846 levels). If the pair breaches the previous high, it can aim at the next target at 0.94 levels another 600-pip move. It has weekly support at 0.8329 (50-week Sma). The weekly stochastic is indicating some more upstream left in this pair. The target of 0.94 is valid until the pair closes above the 0.8329 level. The immediate support is between 0.8660-0.86.

For an intraday basis, the pair has support at 0.8756 levels; below this, 0.8730-0.8724. We expect a panic selling below 0.8724 for 0.87, 0.8685 and 0.8660. The hourly RSI is indicating selling on the rise with sl 0.8846. Fresh buy only above 0.8850 levels. If a four-hour candle closes above 0.8780, we can expect the kiwi to prepare the next leg up, but the strong momentum is only above 0.8850 levels for 0.8920, 0.8950, 0.90 and 0.9156 for next 1-3 weeks time frame.

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Short term forecast of GBP/JPY for June 27, 2014 Trend News

GBP/JPY

Short-term view-

The pair is enjoying its bull run from 116.80 and is rallying all the way to 174.75 levels. It pauses its rally at 174.75 and has been consolidating near 200-day Ema. The monthly momentum indicators favor selling mode. We recommend next buying only above 174.75 for a target at 178 and 185 levels. On the down side, it has strong support at 168; a break below this, we can see 164 levels.

KEY MONTHLY SUPPORT LEVEL 168

In the weekly chart, the pair is making an ascending triangle. If we get an upside breakout, we can again see a huge upside target aiming at 185 levels. But the weekly RSI is indicating a negative divergence. If the pair gives a downside break out, it can fall further to 169.50, 167.75 and 165 levels.

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Short-term forecast for EUR/JPY for June 27, 2014 Trend News

EUR/JPY

Short-term view-

The pair has been in a down trend from 145.68 levels. The pair has broken the 16-month support trend line and is trading near 50-week Sma at 137.45 levels. It is trading in a very crucial support zone between 137.45-136.20. If the pair hits the 50-week Sma on a closing basis, we can see the extension of the bearish leg towards the initial target at 134.40-134.10 and later 131 .20 levels. On the upside, we have resistance at 138.90, 140.06 and 142 levels. The pair favors selling on the rallies until it crosses above the 143.78 levels. We can see a huge downfall if the pair breaches 136.21 for 131 and 129 levels.

KEY SUPPORT LEVEL 136.20 FOR THE SHORT TERM

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Short-term forecast for EUR/GBP for June 27, 2014 Trend News

EUR/GBP

The pound looks stronger than the other majors like the US dollar, euro and yen. Traders raise their bets in the interest rate hike by BoE at 0.50%. The bulls made an effort to make a new high and they succeeded in that. Now the situation is changing. The bets in interest rate hike are cooling off. Currently, the Pound looks a bit weaker. In the technical front the EUR/GBP pair is trading 200 pips around its strong support zone.

Medium-term view-

The pair is trading at 0.7996, almost the lowest point of the current month (0.7958 low). It has been in a down trend from 0.8814 (February 2013 high). The pair has strong support at 0.7786 (200-month Ema) and 0.7757 (July 2012). If the pair holds the given support zone, we can expect a nice pull back up to 0.84 (50-month Sma) levels. In case if the pair hits the previous swing low at 0.7757, we can see another red blanket aiming at 0.7595 and 0.7321 levels (200-month Sma).

Cmp is 0.7996.

Sell below 0.7757 for 0.7595 and 0.7321.

Next week we will update the complete analysis (near- and short-term).

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Technical analysis of USD/CAD for June 27, 2014 Trend News

General overview for 27/06/2014 08:10 CET

The market keeps making new lower lows and this is why I decided to take the second look at the four-hour time frame count to determine if the impulsive wave count is better than any other and if it can fit the overall picture. Currently, it looks like the wave progression is very impulsive and new lows should be expected as the impulsive cycle wich has not been finished yet. The target zone for wave (v) green is the area between the levels of 1.0644 - 1.0661 and some rebound in wave 4 red should be expected there. The key level for bulls to take control is the level of 1.0751 (breakout).

Support/Resistance:

1.0644 - 1.0661 - Wave (v) Target Zone

1.0716 - Technical Resistance

1.0751 - Wave (iv) High

1.0813 - Technical Resistance

Trading recommendations:

The swing traders should still keep the open sell positions running and the good level to add to the existing positions is the area between the levels of 1.0716 - 1.0751, with SL above the level of 1.0813 and TP below the level of 1.0644.

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Technical analysis of EUR/USD for June 27, 2014 Trend News

When the European market opens, some economic news will be released such as German Import Prices m/m, German Prelim CPI m/m, French Consumer Spending m/m, Spanish Flash CPI y/y, Italian 10-y Bond Auction, and EU Economic Summit. The US will release the economic data too such as the Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3676.

Strong Resistance:1.3668.

Original Resistance: 1.3655.

Inner Sell Area: 1.3642.

Target Inner Area: 1.3610.

Inner Buy Area: 1.3578.

Original Support: 1.3565.

Strong Support: 1.3552.

Breakout SELL Level: 1.3544.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3565 and 1.3655. The rate is accompanied by strong support at 1.3552 and by 1.3668 as strong resistance.

If EUR/USD breaks out and closes below the 1.3544 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3676 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 1.3578 and at 1.3642, a SELL position. In this case both targets should be placed at the level of 1.3544.

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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