Intraday trading recommendations on USD/CHF for September 10, 2014 Market Analysis Review

The pair gets restriction at 200WEma and 61.8 fib level. A fresh, strong up move will flare above 0.94 towards the 0.9456, 0.9534, and 0.9611 levels. In the medium term, 0.94 is the strong resistance level and the trend decider level. In the daily chart, the momentum oscillators indicating bears will drive the pair up to the 0.9280 and 0.9180 levels in the near term. This view is valid until the pair closes below the 0.9360 levels. For August, 0.9175 was strong support. The medium will turn to bearish again, if the pair hits 0.9175. The monthly RSI and Stochastics are indicating a bullish move.

For an intraday view, the prices are closed and trading below35DEMA and 12ema represents bearish views for an hour and intrady basis. The pair has support at 0.9315, below this bears prompt the pair to make 0.93, 0.9286, and 0.9280. The panic will trigger below 0.9280 towards the 0.9255 and 0.9216 levels. On the down side, 0.9175 is the key trend level in the near term and 0.94 is the strong resistance level.

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Intraday trading recommendations on USD/CAD for September 10, 2014 Market Analysis Review

The pair breached the 4-week resistance and moved to 1.1032 but rejected at the 61.8 fib level. The pair has a strong resistance zone between the 1.1053-1.1070 levels. We can expect a strong up move only above 1.1070 (safe buy) towards 1.1150. On the down side, the pair has strong support at 1.08526 and 1.0816 (50Wsma) for the short-term perspective. Until the pair closes above 1.0816, bulls will have an upper hand. In the near term, the pair is unable to sustain at higher levels on closing basis. Even though it breaches the high levels, but unable to close at higher levels 1.0986. We are bullish only if the pair closes above 1.0986 on a daily closing basis for the near term.

Resistance 1.0986 1.1053 1.1070

Support 1.0919 1.08474 1.0816

For an intraday basis, the pair opened with a bearish note moving high and below the previous day close. The pair has support at 1.0964, below this 1.0960 and 1.0954 level is a major support level. Safe traders can sell below 1.0964 with downside targets at the 1.0954, 1.0942, 1.0928, and 1.0920 levels. Risky trades can sell at cmp 1.0979 with sl at 1.0986.

Sell with sl 1.0986.

Safe traders can sell below 1.0964.

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Technical analysis of USD/JPY for Sep 10, 2014 Market Analysis Review

Fundamental Overview:

USD/JPY is expected to trade in a higher range after hitting a near-six-year high at 106.47 on Tuesday. It is underpinned by the higher U.S. Treasury yields (10-year at 2.502% versus 2.471% late Monday) after hawkish comments by the San Francisco Federal Reserve triggered speculation that the Fed might sound less dovish in next week's policy statement, and that rate hikes are potentially nearer than markets have anticipated. USD/JPY is also supported by demand from Japanese importers; healthier-than-expected rise in U.S. NFIB Index of Small Business Optimism to 96.1 in August from 95.7 in July (versus forecast 96.0); negative JPY sentiment as recent data pointing to a struggling Japanese economy suggest the Bank of Japan may yet provide more stimulus. However, USD/JPY gains are tempered by Japanese export sales; profit-taking on long USD positions.

Data focus:

2350 GMT Japan will release July orders received for machinery as well as August corporate goods price index.

1400 GMT U.S. will publish July wholesale trade report.

Technical comment:
The daily chart is still positive-biased as MACD is bullish, stochastics stays elevated at overbought zone, 5 and 15-day moving averages are advancing.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 106.60 and the second target at 107. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 105.40. A break of this target would push the pair further downwards and one may expect the second target at 104.95. The pivot point is at 105.70.

Resistance levels:

106.60

107

107.35

Support levels:

105.40

104.95

104.70

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Technical analysis of USD/CHF for Sep 10, 2014 Market Analysis Review

Fundamental Overview:

USD/CHF is expected to consolidate in a higher rage after hitting a year high at 0.9380 on Tuesday. It is undermined by the spillover strength from rebounding RUR on CHF, franc demand on buoyant CHF/JPY cross amid the weak yen sentiment and profit-taking on long USD positions. But USD/CHF losses are tempered by the dovish Swiss National Bank's monetary policy and underpinned by higher U.S. Treasury yields (10-year at 2.502% versus 2.471% late Monday). Hawkish comments by the San Francisco Federal Reserve triggered expectations that the Fed might sound less dovish in next week's policy statement.

Technical Comments:
The daily chart is mixed as MACD is bullish, 5 and 15-day moving averages are advancing but stochastics is turning bearish to the overbought zone.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9380 and the second target at 0.9430. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9290. A break of this target would push the pair further downwards and one may expect the second target at 0.9250. The pivot point is at 0.9315.

Resistance levels:

0.9380

0.9430

0.9465



Support levels:

0.9290

0.9250

0.9210

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Technical analysis of NZD/USD for Sep 10, 2014 Market Analysis Review

Fundamental Overview:

NZD/USD is expected to consolidate with a bearish bias after hitting a seven-month low at 0.8219 on Tuesday as markets await 2100 GMT Reserve Bank of New Zealand interest rate announcement (9 a.m. NZ time). RBNZ is expected to hold its official cash rate at 3.5%. NZD/USD is undermined by the weak dairy prices and healthier-than-expected rise in U.S. NFIB Index of Small Business Optimism to 96.1 in August from 95.7 in July (versus forecast 96.0). But NZD/USD losses are tempered by the Kiwi demand on the buoyant NZD/JPY cross amid the weak yen sentiment, Kiwi demand on soft AUD/NZD cross, NZD-USD interest differential and profit-taking on short-NZD positions ahead of RBNZ's rate decision, and higher U.S. Treasury yields (10-year at 2.502% versus 2.471% late Monday). Hawkish comments by the San Francisco Federal Reserve triggered expectation that the Fed might sound less dovish in next week's policy statement, and that a rate hike is potentially nearer than markets have anticipate.

Technical Comment:
The daily chart is negative-biased as MACD is bearish, stochastics stays suppressed in the oversold area, 5 and 15-day moving averages are falling.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.8215. A break of this target will move the pair further downwards to 0.8180. The pivot point stands at 0.83. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.8350 and the second target at 0.8390.

Resistance levels:

0.8350

0.8390

0.8435

Support levels:

0.8215

0.8180

0.8175

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Technical analysis of GBP/JPY for Sep 10, 2014 Market Analysis Review

Fundamental Overview:

GBP/JPY is expected to trade in a higher range. It is supported by the negative JPY sentiment. The recent data pointing to a struggling Japanese economy suggest the Bank of Japan may yet provide more stimulus increasing demand from Japanese importers. But GBP/JPY gains are tempered by Japanese export sales and uncertainty related to the referendum for Scotland's independence. Bank of England Gov. Carney warned on Tuesday that a currency union between England and independent Scotland would be incompatible with sovereignty. Besides, we should note wider-than-expected U.K. July global goods trade deficit of GBP10.2 billion (versus forecast GBP9.3 billion) and sterling sales on buoyant EUR/GBP cross. But GBP sentiment is soothed as Mr. Carney also signaled that a rate hike could be expected in spring; U.K. July industrial production is increased stronger-than-expected 0.5% on month and +1.7% on year (versus forecast +0.3% on month, +1.4% on year).

Technical Comment:
The daily chart is mixed as MACD and stochastics are turning bullish but five and 15-day moving averages are still meandering sideways.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 171.75 and the second target at 172.35. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 169.25. A break of this target would push the pair further downwards and one may expect the second target at 168.55. The pivot point is at 170.50.

Resistance levels:

171.75

172.35

172.75



Support levels:

170

169.25

168.55

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Technical analysis of EUR/USD for September 10, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as French Final Non-Farm Payrolls q/q, French Industrial Production m/m, and German 10-y Bond Auction. The US will release the economic data too such as the Wholesale Inventories m/m, Crude Oil Inventories, and 10-y Bond Auction. So, amid the reports, EUR/USD will move low volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.3002.

Strong Resistance:1.2995.

Original Resistance: 1.2982.

Inner Sell Area: 1.2969.

Target Inner Area: 1.2939.

Inner Buy Area: 1.2909.

Original Support: 1.2896.

Strong Support: 1.2883.

Breakout SELL Level: 1.2876.

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