Technical analysis of EUR/JPY for June 26, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY is stalling around 139.00 levels at the moment, which is also fibonacci 0.50 resistance as seen here. A push above 139.00 here, would test the 139.30/40 levels which is fibonacci 0.618 resistance and trend line confluence.

2. Support is around 137.70/75, followed by 136.50, 134.00 and lower, while resistance is at 139.30/40, followed by 140.00, 141.00 and higher up respectively.

3. The structure indicates that EUR/JPY should be in control of bears until prices remain below 140.00.

Trading recommendations:

Remain flat for now. Look to sell the rally around 139.20/30.

Good luck!

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Technical analysis of EUR/USD for June 26, 2014 Trend News

When the European market opens, there is no economic news to be released in the Euro Zone. The US will release the economic data such as the Core PCE Price Index m/m, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Natural Gas Storage, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3694.

Strong Resistance:1.3686.

Original Resistance: 1.3673.

Inner Sell Area: 1.3660.

Target Inner Area: 1.3628.

Inner Buy Area: 1.3596.

Original Support: 1.3583.

Strong Support: 1.3570.

Breakout SELL Level: 1.3562. DESCRIPTION:

Today EUR/USD has support and resistance at 1.3583 and 1.3673. The rate is accompanied by strong support at 1.3570 and by 1.3686 as strong resistance.

If EUR/USD breaks out and closes below the 1.3562 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3694 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 1.3596 and at 1.3660, a SELL position. In this case both targets should be placed at the level of 1.3628.

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 June 26, 2014 Trend News

In Asia, Japan will not release any news, but the US will release some economic data such as Core PCE Price Index m/m, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.26.

Resistance. 2: 102.06.

Resistance. 1: 101.86

Support. 1: 101.61.

Support. 2: 101.41.

Support. 3: 101.21. DESCRIPTION:

Please, pay attention to the levels of support 3 (101.21) and resistance 3 (102.26). 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.

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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Short-term forecast and intraday recommendations on USD/CAD for June 26, 2014 Trend News

USD/CAD-

Short term- The pair is consolidating at 1.0716 levels. It keeps on testing the support and succeeded in holding the support. The daily momentum oscillators are indicating an oversold level, they helped the pair not to hit the 1.0716 levels. If the pair breaks the current support, it has an immediate support zone between 1.0711-1.070 levels. We are completely bearish below 1.070 levels for a downside target at 1.068, 1.0650 and 1.0630, in the least case the 1.060 levels for the rest of the year. The bulls will get charged above 1.0761 (this week's high) levels.

For an intraday purpose, the hourly RSI is indicating a positive divergence, likely limited downside fall. The pair is trading at the lowest point of the day. It has support between 1.0716-1.0711. Traders can buy at cmp or even at a dip with sl 1.070. We recommend to sell only below 1.07 levels. On the upside, it has an initial resistance at 1.0726 and 1.0735. We can see strong momentum above these levels for 1.0752, 1.0761 and 1.077. Huge spike above 1.077 for 1.0826-1.0834 levels. In Asia's session, it opened on a minor bullish note lower at 1.0720 levels.

NOTE- cmp 1.0723.

Buy between cmp- 1.0716-1.0710 sl 1.070 with targets 1.0735, 1.0752, 1.0761 and 1.077.

Sell below 1.070.

This trade requires significant patience. Please trade with levels and patience as well.

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Daily analysis of USDX for June 26, 2014 Trend News

Daily chart: The USDX continues to find support on the level of 80.11, which is located below the 200 SMA. Now the USDX could perform a bullish rebound above that level and try to climb up to the resistance level of 80.62. 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 negative territory.

H4 chart: The USDX has made a bullish rebound above the support level of 80.09, while the USDX is trying to make a breakout at that level, because the USDX is below the 200 SMA. If the USDX makes a breakout at the support level of 79.93, it's expected to fall to the level of 79.33. The MACD indicator is in negative territory.

H1 chart: The USDX is trying to form a bearish pattern below the 200 SMA and the resistance level of 80.35. If the USDX does make a breakout at the level of 80.15, it's expected to fall to the level of 79.88, which would be a bearish consolidation. The MACD indicator is moving into positive 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 80.15, take profit is at 79.88, and stop loss is at 80.42.

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Daily analysis of GBP/USD for June 26, 2014 Trend News

Daily chart: The GBP/USD stays below the resistance level of 1.7000, because during yesterday's session, the pair had no major changes. Now, the GBP/USD is trying to stay alive in the bullish outlook, because this pair remains above the 200 SMA. MACD indicator is in the overbought zone and entering neutral territory.

H4 chart: The GBP/USD continues to find resistance at the 1.6995 level. Now this pair is trying to make a breakout at that level, although it is likely to fall to the 200-day moving average, which is near the level of 1.6900. For now, the GBP/USD remains strong in the bullish bias. The MACD indicator is entering oversold zone.

H1 chart: This pair is again finding support in the 200 SMA, which is forming a point of control. If GBP/USD manages to make a breakout on the resistance level of 1.7000, it's expected to rise to the level of 1.7050. For now, we recommend caution when placing sell orders at current levels. The MACD indicator is entering neutral 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 1.7000, take profit is at 1.7050, and stop loss is at 1.6950.

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Daily analysis of GBP/JPY for June 25, 2014 Trend News

Overview

In 4H chart, closing below the resistance level of 173.50 gives the price an opportunity for a slightly bearish move again. As it is shown here, currently the price is trying to continue its bearish move by breaking the support level of 172.75 and closing 4H below which is tested now. In that case, we may get another opportunity for more sell signals and it opens the way towards 172.00, as first target, and then the price should test the support level of 172.00 to continue its bearish move. But as long as the price stabilizes above the support level of 172.75 it cancels the first scenario.

Resistance and support levels: R3 (174.40), R2 (174.00), R1 (173.50), S1 (172.75), S2 (172.00), S3 (171.50).

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