USDCAD Daily Analysis - March 18, 2015 Forex Analysis

USDCAD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.2406. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.3000 area. Key support is at 1.2618, only break below this level could bring price back to 1.2400 zone.

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USDJPY Daily Analysis - March 18, 2015 Forex Analysis

USDJPY moved sideways in a narrow range between 120.66 and 122.02. As long as 120.66 support holds, the price action in the range could be treated as consolidation of the uptrend from 118.23, another rise to 125.00 area could be expected after consolidation. Only break below 120.66 support could signal completion of the uptrend.

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AUDUSD Daily Analysis - March 18, 2015 Forex Analysis

AUDUSD remains in downtrend from 0.7912, the rise from 0.7560 is likely consolidation of the downtrend. Near term resistance is at the top of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.7300 area. Key resistance is at 0.7730, only break above this level could trigger another rise to 0.7850 area.

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GBPUSD Daily Analysis - March 18, 2015 Forex Analysis

GBPUSD remains in downtrend from 1.5551, the rise from 1.4698 is likely consolidation of the downtrend. Resistance is at 1.4900, as long as this level holds, the downtrend could be expected to continue and next target would be at 1.4500 area. Only break above 1.4900 resistance could signal completion of the downtrend.

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EURUSD Daily Analysis - March 18, 2015 Forex Analysis

EURUSD remains in downtrend from 1.1450, the rise from 1.0462 is likely consolidation of the downtrend. Range trading between 1.0462 and 1.0700 is possible in a couple of days. As long as 1.0700 resistance holds, the downtrend could be expected to continue, and next target would be at 1.0200 area. Only break above 1.0700 resistance could signal completion of the downtrend.

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EUR/NZD analysis for March 17, 2015 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading upwards. The price has tested the level of 1.4509 in a high volume. We can observe testing of our Fibonacci retracement 38.2% at the price of 1.4490. The mid-term trends are bearish and my advice is to watch for potential selling opportunities after corrections. I found resitance about the price of 1.4560 (swing low like resistance). My advice is to be careful when buying and to watch for potential selling opportunities after retracement.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4353

R2: 1.4376

R3: 1.4413

Support levels:

S1: 1.4278

S2: 1.4256

S3: 1.4219

Trading recommendations: Be careful when buying at this stage and watch for potential selling opportunities after a retracement (after bullish correction).

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



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Gold analysis for March 17, 2015 Market Analysis Review

Overview :

Since our last analysis, gold has been trading downwards. As we expected, the price has tested the level of $1,142.59 in an ultra volume. Our support at the price of $1,142.00 was successfully tested. We can observe buying climax according to the 4H time frame. According to the 5-minute time frame, we have an ultra high buying climax and very weak demand later what is a sign that professional may sell gold at this stage. My advice is to watch for potential selling opportunities after a retracement. If the price breaks the level of $1,142.00 in a high volume, we may see a potential testing the level of $1,138.00 (Fibonacci expansion 100%).

Daily Fibonacci pivot points:

Resistance levels :

R1: 1,160.62

R2: 1,163.62

R3: 1,169.27

Support levels :

S1: 1,149.92

S2: 1,146.62

S3: 1,141.27

Trading recommendations: Watch for potential selling opportunities after a retracement.

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



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