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Wednesday, 9 April 2014

Technical analysis of EUR/USD for April 10, 2014 Trend News

The Federal Reserve officials worried about inflation and the signals they were sending about interest rates at their two day policy meeting March 18-19. Some officials argued they needed to send a stronger signal that they wanted to see inflation moving up toward the Fed’s 2% objective. Some also worried that their interest rate projections might be incorrectly viewed leading toward a more restrictive policy.

Technical view-

Positional view-

EUR/USD is doing what the cable is doing. The EUR/USD is trading at 1.3856 in Asia's trading session. It is continuing its bullish move towards new highs. The pair is facing resistance at 1.396-1.40 levels. Once the pair closes above the 1.396-1.40 levels, it will travel up to 1.44 levels in the next couple of months. On the down side, the pair has minor support at 1.37918 and 1.37718 and the strong support exists at 1.3748; below this, 1.3643 levels. RSI in the daily charts is still favoring the up move. Before making a new high, we expect the pair to correct a bit up to 1.3750 levels.

Recommendations-

Buy above 1.40 or wait for a dip to enter fresh longs.

Intraday- limited upside and set for a correction

In the H4 chart, the pair is facing resistance at 1.3876 levels. It looks tired to make a fresh level. The momentum indicators are giving an overbought indication resulting in limited upside and open gates for a correction. On the up side, the pair has resistance levels at 1.3876. Above this, it can go up to 1.1.3924 and 1.3950 levels. We expect before moving to 1.3950 levels, the pair will take a back seat and set for a correction. Safe traders can enter shorts at higher levels for targets at 1.3820 and 1.37725 levels. The pair will be in bear hands once it trades below the 1.3780 level, it will drift up to 1.377 and 1.3756 levels. This view is valid up to Monday. Once the pair breaks below the 1.3764 level, it will panic up to 1.3741 and 1.3673 levels.

Recommendations-

Safe traders, buy above 1.3876 for 1.39, 1.3924, and 1.3945.

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/USD for April 10, 2014 . Thanks for your support on Technical analysis of EUR/USD for April 10, 2014

Forecast for GBP/USD for April 10, 2014 Trend News

Today traders eye G20 meeting. The Group of 20 major economies have promised to target a two percentage point increase in the global growth rate over five years and create tens of millions of jobs worldwide. While geopolitical risks emanating from the Ukraine crisis will be discussed, growth will top the agenda at the meeting. The Federal Reserve officials are worried about inflation and the signals they were sending about interest rates at their two day policy meeting March 18-19.

Technical view-

Positional

GBP/USD is trading in a long-term bullish pattern aiming at new highs at 1.838 levels in the next couple of months. This view is invalid when the pair closes below the 1.6220 levels. Currently, it is trading near the previous high level at 1.6823 made on February 27, 2014. The RSI is still in the positive zone (weekly chart) favoring this pair to make a new high, probably today. If the pair closes the day above the 1.6823 levels, it will fly up to 1.6920 and 1.7076 levels as an immediate target. Before making a new fresh high, we expect a bit of correction towards 1.6718 levels. After a day close below the 1.6718 level, the pair is set back to correct up to 1.6684 and 1.6554 within support at 1.66 levels. Positioanl traders, please wait for a dip to enter fresh longs for new highs.

Intraday- limited upside and set for correction

In the H4 chart, the pair is taking support at 1.6786 levels. It looks tired to make a fresh new level. The momentum indicators are giving an overbought indication, the result of which is limited upside and open gates for a correction. On the up side, the pair has resistance levels at 1.6823. Above this, it can go up to 1.6920. We expect before moving to 1.6920 levels, the pair will take a back seat and all set for a correction. Safe traders can enter shorts at higher levels for targets at 1.6786 and 1.6718 levels. This view is valid up to Monday. Once the pair breaks below the 1.6718 level, it will panic up to 1.66 levels.

joseph.wind@analytics.instaforex.com

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

For detail explanation and best discovery on market trends you may visit via Forecast for GBP/USD for April 10, 2014 . Thanks for your support on Forecast for GBP/USD for April 10, 2014

Fundamental analysis of Gold for April 10, 2014 Trend News

The Fed's officials were worried at the meeting that their individual projections for short-term interest rates could be misleading. Some officials pushed up their projections for rates in 2015 and 2016, which would be made public in the Fed’s release of projections with its official policy statement.The FOMC minutes should cast light on the committee's thinking regarding the further tapering of its quantitative easing program, currently worth $55 billion per month. Today traders eye G20 meeting.The Group of 20 major economies have promised to target a two percentage point increase in the global growth rate over five years and create tens of millions of jobs worldwide.

Fed officials discussed at length the continued run of inflation below the central bank’s 2% objective. Some officials wanted to make it clearer in their policy statement that the Fed wouldn’t tolerate low inflation and they agreed to monitor the data carefully. Fed officials agreed that they would likely keep short-term interest rates low well into the future. Officials appeared to have become a bit more concerned about the economic outlook in China.

Technical view-

The metal is trading at $1,315 levels in Asia's trading session. The metal is facing strong resistance at $1,317, which was a break up level for more upside for $,1326 and $1,342. As we recommended in yesteraday's report, until the metal trades above the $1,300 levels, bulls will have an upper hand. The same was done during yesterday's trading session. In today's trading session I expect the metal to step back towards $1,310, $1,308, and even $1,300 levels, before it move further up. For hourly trade if the metal will become weak below $1,314, it will drift up to $1,310. If it breaks $1,310, then the strong support level exists at $1,308. The level of $1,300 will come only after a break below the $1,308 levels. Panic button will be pressed only below $1,300 towards $1,295; in xase of a break below this, $1,281 is an open target. A day close below $1,300 will trigger panic.

Intraday-

Buy above $1,317 for targets at $1,326.

Safe traders, sell below $1,308 with targets at $1,300.

Risky traders, sell below $1,314 for targets at $1,310, $1,308, and $1,300.

Adopt a strategy and trade safe.

joseph.wind@analytics.instaforex.com

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

For detail explanation and best discovery on market trends you may visit via Fundamental analysis of Gold for April 10, 2014 . Thanks for your support on Fundamental analysis of Gold for April 10, 2014

Forecast for AUD/USD for April 10, 2014 Trend News

Australia's unemployment rate fell to 5.8% in March from 6.1% in February, official figures showed.The total number of people with jobs rose 18,100 (seasonally adjusted) to 11.55 m, the Australian Bureau of Statistics figures showed just. Full-time employment fell 22,100 to 8.02 m in March and part-time employment was up 40,200 to 3.52 m. Chinese exports was at an annual rate of -6.6% in March (expected +4.8%, previous -18.1%). China March imports came in at -11.3% (expected +3.9%, previous +10.1%). China's total import and export turnover was 965.88 billion U.S. dollars, down 1%.

Technical view-

The pair started looking down side after the Chinese data yad been printed below expectations. The pair is trading at 1.9415 in Asia. It is facing strong resistance at 0.9450 levels. In the daily and hourly charts, the RSI is in overbought conditions. I expect the upside to be limited and set for correction like GBP/USD and EUR/USD. But regarding AUD/USD, we expect a deep correction towards 0.9242 levels, with intermediate support at 0.9363, 0.9297, and 0.9280 levels.

On the upside, if the pair trades above the 0.9450 level, it will jump to 0.9550 and 0.957 immediately.

Recommendations-

Positional- sell on every rise with sl 0.957 and (cb) targets 0.92; cmp 0.9415.

Intraday- buy above 0.9450 for targets at 0.9550 and 0.957.

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

For detail explanation and best discovery on market trends you may visit via Forecast for AUD/USD for April 10, 2014 . Thanks for your support on Forecast for AUD/USD for April 10, 2014

Daily analysis of USDX for April 10, 2014 Trend News

Daily chart: The USDX continues falling and strengthening the current bearish bias. Now, it is very likely that the USDX will fall to the support level of 79.19. If the USDX does make a breakout at that level, it would be expected to fall to the level of 78.12. For now, the USDX remains below the 200-day moving average, so more bearish movements are expected. The MACD indicator is in negative territory.

H4 chart: The USDX is consolidating below the resistance level of 79.69 and now the USDX is falling toward the support level of 79.27. If the USDX does make a breakout at that level, it would be expected to fall to the level of 78.65. On the other hand, if the USDX makes a bullish rebound at current levels, it is expected to rise to the level of 79.69. The MACD indicator is in negative territory.

H1 chart: The USDX is forming a bearish pattern below resistance level of 79.64. If the USDX manages to consolidate below the support level of 79.39, it's expected to fall to the level of 79.13. On the other hand, if the USDX does make a breakout on the resistance level of 79.64, it's expected to rise to the level of 79.88. The MACD indicator is in negative territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 79.39, take profit is at 79.13, and stop loss is at 79.64.

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

For detail explanation and best discovery on market trends you may visit via Daily analysis of USDX for April 10, 2014 . Thanks for your support on Daily analysis of USDX for April 10, 2014

Daily analysis of GBP/USD for April 10, 2014 Trend News

Daily chart: This pair has consolidated above the support level of 1.6766 after the GBP/USD has successfully performed a breakout at that level. It is very likely that this pair will rise to the resistance level of 1.6851. If GBP/USD manages to make a breakout at that level, it would be expected to rise to the level of 1.7000. The MACD indicator is in positive territory.

H4 chart: The GBP/USD has consolidated above the bearish trend line near to the 1.6730 level. If the pair manages to make a breakout on the resistance level of 1.6822, it's expected to rise to the level of 1.6950 in the medium term. However, if the pair manages to make a breakout in the support level of 1.6785, it's expected to fall to the level of 1.6730. The MACD indicator is in positive territory.

H1 chart: The GBP/USD has made a breakout at the 1.6750 level where it has formed a point of control and now this pair is forming a lower high pattern above that level. If the pair manages to make a breakout on the resistance level of 1.6800, it's expected to rise to the level of 1.6850. The MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6800, take profit is at 1.6850, and stop loss is at 1.6750.

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

For detail explanation and best discovery on market trends you may visit via Daily analysis of GBP/USD for April 10, 2014 . Thanks for your support on Daily analysis of GBP/USD for April 10, 2014

Technical analysis of EUR/USD for April 10, 2014 Trend News

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When the European market opens, some economic news will be released such as French Industrial Production m/m, French CPI m/m, ECB Monthly Bulletin, Italian Industrial Production m/m.The US will release the economic data too such as the Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction, Federal Budget Balance, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3919.

Strong Resistance:1.3910.

Original Resistance: 1.3897.

Inner Sell Area: 1.3884.

Target Inner Area: 1.3851.

Inner Buy Area: 1.3818.

Original Support: 1.3805.

Strong Support: 1.3792.

Breakout SELL Level: 1.3783.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3805 and 1.3897. The rate is accompanied by strong support at 1.3792 and by 1.3910 as strong resistance.

If EUR/USD breaks out and closes below the 1.3783 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3919 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 1.3818 and at 1.3884, a SELL position. In this case both targets should be placed at the level of 1.3851.

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.