Technical analysis of USD/JPY for September 09, 2014 Market Analysis Review

In Asia, Japan will release its Monetary Policy Meeting Minutes, Tertiary Industry Activity m/m, M2 Money Stock y/y, 30-y Bond Auction, Consumer Confidence, and Prelim Machine Tool Orders y/y data. Meanwhile, the US will release its NFIB Small Business Index and OLTS Job Openings. So there is a big probability the USD/JPY pair will move with low to medium volatility during the Asian session, but with low volatility during the US session.

Today’s technical levels:

Resistance. 3: 106.54.

Resistance. 2: 106.33.

Resistance. 1: 106.12.

Support. 1: 105.87.

Support. 2: 105.66.

Support. 3: 105.45. 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 EUR/USD for September 09, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as French Gov Budget Balance and French Trade Balance. The US will release its NFIB Small Business Index and JOLTS Job Openings. So amid the reports, EUR/USD will move low volatility during this day.

Today’s technical levels:

Breakout BUY Level: 1.2954.

Strong resistance:1.2947.

Original resistance: 1.2934.

Inner sell area: 1.2921.

Target inner area: 1.2891.

Inner buy area: 1.2861.

Original support: 1.2848.

Strong support: 1.2835.

Breakout SELL level: 1.2828.

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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Technical analysis of GBP/CHF for September 09, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair pushed lower into the 1.5000 levels yesterday as expected and discussed, and as seen on the daily chart view here. The pair pulled off the lows and closed around 1.5060 levels, but bearish pressure should remain for a while and intraday rallies should be considered as fresh short opportunities. The 1.5050 mark should now be acting as intermediary resistance. Bears seem to remain under control at least till 1.4800 levels as depicted here, which is fibonacci extension level of the down swing from 1.5430 levels through 1.5050 earlier. The pair, at the moment is still said to be retracing the entire rally from 1.4450 levels through 1.5430 levels as seen here. Immediate support is seen at 1.4960, followed by 1.4760, while resistance is at 1.4250/75, followed by 1.5430 respectively.

Trading recommendations:

Remain short, stop above 1.5300, target 1.4800.

Good luck!

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Technical analysis of EUR/JPY for September 09, 2014 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY bulls responded well at the back side of resistance turned support line yesterday, as expected. The pair has now produced a bullish reversal candlestick pattern as seen on the daily chart view here and prices and prices pushed ahead up to 137.00 mark before closing at 136.80 yesterday. It looks like the bulls are back in control and should continue dragging prices higher up towards 139.80 and subsequently also through 141.30/40 levels. Support is now seen at 136.00/135.80 levels, while resistance is fixed at 138.20 (interim), followed by 139.20, and 140.10 respectively. The structure for now, reveals that bulls remain in control, bottom line remains that 135.80 should hold well.

Trading recommendations:

Remain long for now, stop just below 135.80, target 139.80 at least.

Good luck!

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Daily analysis of major pairs for September 9, 2014 Market Analysis Review

EUR/USD: There is a long-term Bearish Confirmation Pattern in the market. With further weakness in this market, the price has tested the support line at 1.2900. Should the support line at 1.2900 get broken to the downside, the next target would be the support line at 1.2850.

USD/CHF: This is a bull market – which is supposed to continue as long as EUR/USD is weak. The barriers that were once thought as being impregnable (the erstwhile resistance levels) have already been breached to the upside. The market may go further north, reaching another resistance level at 0.9400.

GBP/USD: With a strong weakness in this currency trading instrument, the Bearish Confirmation Pattern in the market is clean and straightforward. Moreover, the price opened this week with a gap-down. In fact, every GBP pair gapped up or down at the open of the markets. The price has trended downwards following the gap and this may be the stance for this week: further movement southwards.

USD/JPY: The markets have been going according to expectation. For instance, USD/JPY has already tested the supply level at 106.00. With more strength in the pair, the supply level might be breached to the upside; and the price may go upwards towards the demand level at 106.50.

EUR/JPY: This cross which went downwards significantly last week, made serious bullish attempts on Monday. The bullish attempts have been formidable enough to pose threat to the recent ‘sell’ signal and the weakness in the yen is one cause of this. Any movement above the supply zone at 137.50 would be the end of the bearish bias. However, as long as the price is below that supply zone, the bearish bias is valid.

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Daily analysis of USDX for September 09, 2014 Market Analysis Review

Daily chart: The USDX had a bullish momentum above the support level of 83.74. So now the USDX is trying to make a breakout at the resistance level of 84.29. If it succeeds, it would be expected to climb up to the resistance level of 85.18, which would be a strong bullish consolidation. The MACD indicator stays in positive territory.

H4 chart: The USDX is trying to consolidate above the bullish trend line near to the level of 84.25. If the USDX succeeds in doing a breakout at the resistance level of 84.47, it's expected to rise to the level of 85.06, bearing in mind that the USDX is entering overbought area. The MACD indicator stays in positive territory.

H1 chart: The USDX is trying to form a higher high pattern above the support level of 84.18. If the USDX manages to make a breakout at the resistance level of 84.37, the next objective would be the level of 84.60. However, the USDX could carry out a pullback and fall back to the support level 84.03. The MACD indicator stays in positive 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 84.37, take profit is at 84.60, and stop loss is at 84.14.

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Daily analysis of GBP/USD for September 09, 2014 Market Analysis Review

Daily chart: GBP/USD failed to fill the bearish gap yesterday, so this pair is consolidating below the resistance level of 1.6146. The next objective for this pair is the level of 1.6043. If GBP/USD manages to make a breakout at that level, it's expected to fall to the support level of 1.5883 in the medium term, although it is likely that the pair will rebound at current levels. The MACD indicator stays in positive territory.

H4 chart: GBP/USD is trying to fall to the support level of 1.6004. If this pair consolidates below that level, the next support level would be 1.5811. GBP/USD remains far from the 200-day moving average and the MACD indicator remains in negative territory.

H1 chart: The GBP/USD encountered resistance at the 1.6170 level, so it is likely that this pair will try a breakout at the support level of 1.6117, and will fall to the level of 1.6075. The MACD indicator is entering neutral 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 will be at 1.6075, take profit is at 1.6031, and stop loss will be at 1.6119.

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