Daily analysis of USDX for April 04, 2014 Trend News

Daily chart: The USDX remains strong in the current bullish bias above the support level of 80.11, so it is very likely that the USDX rises to the resistance level of 80.62, where the 200-day moving average is located. If the USDX does make a breakout at that level, it would be expected to rise to the level of 81.50. The MACD indicator is in positive territory.

H4 chart: The USDX is trying to form a lower high pattern above the 80.44 level. If the USDX does make a breakout on the resistance level of 80.58, it's expected to rise to the level of 81.32. Furthermore, if USDX is able to consolidate below the support level of 80.35, it's expected to fall to the level of 80.15. The MACD indicator is in positive territory.

H1 chart: The USDX has made a breakout at the level of 80.35, so it is very likely that the USDX will rise to resistance level of 80.59. If the USDX does make a breakout at that level, it would be expected to rise to the level of 80.73. The USDX remains above the 200 SMA and MACD is in negative territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 80.59, take profit is at 80.73, and stop loss is at 80.44.

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Daily analysis of GBP/USD for April 04, 2014 Trend News

Daily chart: The GBP/USD continues to fall below the resistance level of 1.6663. Now, it is very likely that this pair will fall to the support level of 1.6540, which is set slightly bullish trend line. If GBP/USD manages to consolidate below this level, it would be expected to strengthen the bearish bias. The MACD indicator is entering neutral territory.

H4 chart: This pair continues to seek support on the 200 SMA and the support level of 1.6583. If GBP/USD manages to make a breakout at that level, it would be expected to fall to the level of 1.6516. On the other hand, if the pair manages to make a breakout on the resistance level of 1.6592, it's expected to rise to the level of 1.6644. The MACD indicator is in negative territory.

H1 chart: The GBPUSD has consolidated below the 200 SMA with the formation of a bearish pattern. If the pair manages to make a breakout in the support level of 1.6578, it's expected to fall to the level of 1.6544. On the other hand, you should wait for a breakout on the resistance level of 1.6629 to continue placing buy orders. The MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.6578, take profit is at 1.6544, and stop loss is at 1.6612.

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Technical analysis of EUR/USD for April 04, 2014 Trend News

When the European market opens, some economic news will be released such as German Factory Orders m/m, Retail PMI.The US will release the economic data too such as the US-Non-Farm Employment Change, US-Unemployment Rate, so amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3789.

Strong Resistance:1.3780.

Original Resistance: 1.3767.

Inner Sell Area: 1.3754.

Target Inner Area: 1.3721.

Inner Buy Area: 1.3688.

Original Support: 1.3675.

Strong Support: 1.3662.

Breakout SELL Level: 1.3653.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3675 and 1.3767. The rate is accompanied by strong support at 1.3662 and by 1.3780 as strong resistance.

If EUR/USD breaks out and closes below the 1.3653 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3789 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 1.3688 and at 1.3754, a SELL position. In this case both targets should be placed at the level of 1.3721.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

For more analysis go to: blog.mt5.com/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 April 04, 2014 Trend News

In Asia, Japan will not release any economic data and the US will release some economic data such as US-Non-Farm Employment Change, US-Unemployment Rate. So there is a big probability the USD/JPY will move with medium to high volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 104.39.

Resistance. 2: 104.18.

Resistance. 1: 103.98.

Support. 1: 103.73.

Support. 2: 103.53.

Support. 3: 103.32

DESCRIPTION:

Please, pay attention to the levels of support 3 (103.32) and resistance 3 (104.39). 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,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

For more analysis go to: blog.mt5.com/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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Fundamental analysis of EUR/USD for April 04, 2014 Trend News

The European Central Bank President Mario Draghi signaled the bank was ready to take further steps to counter low inflation. The ECB is concerned about continued low inflation after consumer prices held below 1 percent for a sixth month in March.Tonight, all eyes will be on the US employment data which is expected to show payrolls growth by 200,000 in March after a gain of 175,000 in February. The ECB's President Mario said Thursday that the Governing Council is already leaving its worst fears that the European economy would see “protracted stagnation,” as unemployment across the euro zone remains high.

Technical view

EUR/USD is trading at 1.3723 in Asia's trading session. The pair has been in a downtrend from 1.3967 levels travelling towards to the lower levels by breaking all the short-term moving averages. On the down side, the support levels exist at 1.364, a break below this will push the price to 1.3548 and 1.3477 levels. On the up side, 1.37764 is the strong resistance (intraday). If the pair crosses this level, short covering will take place and the pair will push to 1.3810 levels. The downfall is limited due to oversold RSI levels in the H4 chart. For positional basis, traders can go short with sl 1.3735 on a closing basis for targets at 1.3640, 1.3548, and 1.3477 levels. A day close above the 50SMA (red line) of 1.3735 will show us an up move to 1.3763, 1.3781, and 1.3820 levels.

Intraday- 1.3735 above only safe for longs

For intraday purpose, the pair is facing stiff resistance level at 50&200MA levels, noted as R1. Until the pair crosses the R1, we can't see up move. Only above the R1, the pair can travel up to R2 (1.3820), above this, R3 is 1.3876. On the down side, If the pair breaks the 1.3794 level, it will drift towards 1.365 and 1.3642 levels immediately. I expect "limited" from the current levels at 1.3722.

Recommendations-

Traders who favor the euro can buy with sl 1.3694 for targets 1.3735, 1.3777, and 1.38 (intraday).

For bears - sell below 1.3694 for targets 1.365 and 1.3642.

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Technical analysis of USD/CAD for April 04, 2014 Trend News

Canada’s merchandise trade balance swung to a surplus in February, with rising exports of autos and energy outpacing record imports.The surplus of $290 million exceeded the $200 million surplus that was the median of 17 predictions in a Bloomberg survey. January’s deficit was revised to $337 million from an initially reported $177 million, Statistics Canada said Thursday.

In the currency view, Canadian's exporters may benefit this year from a weaker currency and quicker economic growth in the U.S. Three-quarters of Canada’s exports were shipped to the U.S. in 2013, while the currency weakened 6.4% over the last six months.

USD/CAD has been in a consolidation phase waiting for a direction. The level of 1.1 looks like a key level between bulls and bears. It has been hovering at 1.1 levels for last 7 trading sessions in the daily chart. On the down side, if the pair breaks and closes below the 1.1 level, it will drift all the way to 1.0955, 1.0910 and 1.0810 with sl 1.1078 (March 28 high). On the up side, if the pair holds the 1.1 in today's trading session (cb), it will fly up to 1.108. Closing above it will cause a new bull run towards the higher levels.

Intraday-

In the H4 chart, RSI favors buy side. Traders can enter fresh longs only above the level of 1.1045 with targets at 1.1056, 1.1075 immediately. Above this, 1.11 and 1.1170 levels will be possible. Sellers can short only below 1.1 levels for targets at 1.0955 and 1.0910 levels.

joseph.wind@analytics.instaforex.com

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Fundamental analysis of Gold for April 04, 2014 Trend News

The big monthly US jobs report will be released today. Initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 326,000, the Labor Department said on Thursday. The government's closely watched employment report on Friday is expected to show non-farm payrolls increase of 200,000 jobs last month after rising by 175,000 in February. The Shangai Gold exchange is down 0.48%. The metal came under pressure after the US dollar gained strength. The market participants reveal that the general sentiment towards gold is quite subdued right now," UBS analyst Edel Tully said.

Technical view-

In yesterday's trade gold drifted to its 7-week low, but held the previous support level at $1,277.0. For positional traders, one can enter fresh shorts once gold closes below $1,279 for targets at $1,270, $1,275, $1,265, and $1,261 levels. Or in another view, due to oversold levels in hourly chart once the price moves higher towards $1,306-$1,307 levels, one can enter shorts with small sl $1,308 on a closing basis. On the higher side, the levels of $1,298 and $1,397 are the supply zone. A day close above the $1,307 level (50SMA), the metal will move upwards to $1,317, $1,320, and $1,327. The metal will get positive waves only after a day close above the $1,342 levels. Until that, any rise is a selling opportunity. Sellers will get a shorting opportunity below $1,279 or higher levels $1,295, $1,298, and $1,307 levels.

Intraday-

In the H4 chart, the metal is facing stiff resistance between $1,287.20-$1,288.60 levels. Buyers can enter longs only above the level of $1,288.6 for $1,294. Above this, $1,298 will be possible for intraday session. Today, if the pair is unable to cross the $1,294 level, the gates are open for lower targets at $1,277, below this, $1,270 and $1,272 (intraday). Sellers can enter fresh short positions at higher levels at $1,294 or $1,298 or below $1,281 for targets at $1,277.

Recommendations- cmp $1,284.80

Safe traders-

Sell below $1,281 for targets at $1,277; below this, $1,275 and $1,272.

Buy above $1,289 with targets at $1,294 and $1,298.

Risky trades-

Buy with sl $1,277 for targets at $1,288, $1,294, and $1,298 (above $1,289 only, next targets will come).

Sell below $1,277 for targets $1,270, $1,265, and $1,261.

Please adopt one strategy and trade safely.

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