Daily analysis of USDX for September 02, 2015 Market Analysis Review

The USDX has been forming a kind of higher high pattern above the support level of 95.26. The resistance zone of 95.83 is still the focus of concern on the daily chart. If the index does a breakout over there, it will reach the level of 96.64. However, the current corrective moves could push the index lower until the 200 SMA.

On the H1 chart, there is a double pattern formation above the support level of 95.33, but is still moving below the 200 SMA. However, we should expect a breakout at the level of 95.68, a move which could open the doors to the level of 96.09 is expected in the short term. Currently, a consolidation below 95.33 will expose the USDX to test the level of 95.00.

Daily chart's resistance levels: 95.83 / 96.64

Daily chart's support levels: 95.26 / 93.86

H1 chart's resistance levels: 96.08 / 96.39

H1 chart's support levels: 95.68 / 95.33

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is seen at 95.68, take profit is at 96.09, and stop loss is at 95.27.

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Daily analysis of GBP/USD for September 02, 2015 Market Analysis Review

On the daily chart, GBP/USD continues to trade in a lower range. It has already made a breakout at the support level of 1.5329. This was a highly anticipated move because of the current cable's behavior in this time frame.

The next target is located at the level of 1.5224 where it should be expected to see some rebounds before any move lower.

The pair is looking for an opportunity to test the support level of 1.5272 after the breakout at 1.5331. Currently, as we can see on the H1 chart, the 200 SMA is bearish and current lower swings are calling for more downside in the GBP/USD. We should expect a break at 1.5272 and this would be the move that could send the pair towards to level of 1.5220.

Daily chart's resistance levels: 1.5329 / 1.5438

Daily chart's support levels: 1.5224 / 1.5107

H1 chart's resistance levels: 1.5331 / 1.5368

H1 chart's support levels: 1.5272 / 1.5220

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 1.5272, take profit is at 1.5220, and stop loss is at 1.5322.

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Technical analysis of USD/JPY for September 02, 2015 Market Analysis Review

In Asia, Japan will release the Monetary Base y/y and the US will publish data on Beige Book, Crude Oil Inventories, Factory Orders m/m, Revised Unit Labor Costs q/q, Revised Non Farm Productivity q/q, and ADP Non-Farm Employment Change. So, there is a strong probability that USD/JPY will move with low to medium volatility during the day and medium volatility during the US session

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.86.

Resistance. 2: 120.62.

Resistance. 1: 120.39.

Support. 1: 120.10.

Support. 2: 119.86.

Support. 3: 119.62

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 02, 2015 Market Analysis Review

When the European market opens, some economic news on the PPI m/m and Spanish Unemployment Change will be released .The US will unveile readings for Beige Book, Crude Oil Inventories, Factory Orders m/m, Revised Unit Labor Costs q/q, Revised Nonfarm Productivity q/q, and ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move with medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1350.

Strong Resistance:1.1344.

Original Resistance: 1.1333.

Inner Sell Area: 1.1322.

Target Inner Area: 1.1296.

Inner Buy Area: 1.1270.

Original Support: 1.1259.

Strong Support: 1.1248.

Breakout SELL Level: 1.1242.

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

For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for September 02, 2015 . Thanks for your support.

USD/CAD intraday technical levels and trading recommendations for September 1, 2015 Market Analysis Review

Overview:

Few months ago, when bulls pushed the price further above 79.6% Fibonacci level, the market looked quite overbought. That is why, the price failed to hold above 1.2650 - 1.2680 (previous highs), resulting in lower highs (within the depicted consolidation zone) enhancing the bearish side of the market.

A daily fixation below 1.2300 opened the way towards the levels of 1.2000 and 1.1940 (the depicted weekly uptrend).

Bullish support was found around these levels. Successive higher lows were achieved. Bullish pressure was applied against the resistance levels at 1.2450 and 1.2500 (previous tops).

On the other hand, the previous weekly candlestick was quite bullish. That is why, an extensive bullish movement is seen on the chart.

A bullish breakout above the zone of 1.2770-1.2800 has been executed.

The long-term bullish target was projected towards the level of 1.3270 (100% Fibonacci Expansion) where bearish pressure should be expected. Bulls were approaching this level this week.

Bearish corrective movement towards the level of 1.2750 (Breakout Level) should be expected as long as USD/CAD bears keep defending the Fibonacci Expansion zone around 1.3270 - 1.3300.

On the other hand, bearish persistence below 1.3100 (lower limit of the depicted Flag pattern) is needed to expose the next support level around 1.2910 and then 1.2800 where long-term buy entries can be considered.

Trading recommendations:

A valid SELL entry was suggested at retesting of the price levels around 1.3270 (upper limit of the Flag pattern and Fibonacci Expansion 100%). S/L can now be lowered to 1.3330 to offset the associated risk.

Conservative traders should wait for a bearish pullback towards the recent breakout zone (1.2800-1.2750) for a valid buy entry as the breakout level constitutes a recent strong support.

Stop Loss should be located below the level of 1.2700. T/P levels should be located at 1.2850 and 1.2900 and T/P levels to be placed at 1.3200 and 1.3050.

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Intraday technical levels and trading recommendations for GBP/USD for September 1, 2015 Market Analysis Review

Few months ago, the market was pushed above the weekly key zone around 1.5550 in an attempt to reach the area around 1.5900, which has been providing evident supply for the GBP/USD pair.

Last week, strong bearish pressure was applied at the level of 1.5550 again. It was broken down temporarily two weeks ago, when a weekly bullish engulfing candlestick was expressed.

For several weeks, consecutive weekly candlesticks have been generating contradictory signals.

However, a recent weekly candlestick closure above 1.5500 hindered a further bearish decline for some time and enhanced the bullish side of the market towards 1.5670 (previous weekly high) and 1.5780 (61.8% Fibonacci level).

The most recent WEEKLY candlestick came as bearish engulfing one, closing below the price level of 1.5450 (Head and Shoulders neckline). This enhances the bearish side of the market in the long term. Approximate projection target for the reversal pattern should be located near the price level of 1.5050.

In the short term, the nearest demand level around 1.5200 is vulnerable to retesting as long as the GBP/USD bears manage to keep moving below the level of 1.5450 (neckline).

Previously, the zone of 1.5800-1.5880 acted as significant supply. It offered a valid sell entry few weeks ago. All T/P levels were successfully reached.

On the other hand, the level of 1.5550, which corresponds to the 50% Fibonacci level and the previous prominent top, was temporarily broken allowing further bearish decline towards 1.5350 where an ascending bottom was recently established.

The level of 1.5500 formed a significant key level to watch for. It corresponded to the uptrend line depicted on the chart.

Prominent supply/resistance levels were located around the level of 1.5770 (prominent 61.8% Fibonacci level) where the right shoulder of the depicted bearish reversal pattern was originated.

That is why, a valid sell entry was suggested for retesting 1.5770 last week on Monday. The position is already running in profits now.

Moreover, the bearish movement towards 1.5200 should be expected as long as the market keeps trading below the zone of 1.5480-1.5500.

On the other hand, bearish rejection should be expected at retesting of the depicted 50% Fibonacci level (price zone around 1.5500-1.5540) with the same T/P levels projected towards 1.5200.

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Intraday technical levels and trading recommendations for EUR/USD for September 1, 2015 Market Analysis Review

The market was pushed lower after breaking below major demand levels around 1.2100 and 1.2000 where historical bottoms were previously hit back in July 2012 and June 2010.

EUR/USD bears have already pushed the price slightly below the monthly demand level at 1.0550 (established in January 1997). Bullish recovery was expressed shortly after.

April's monthly candlestick came as a bullish engulfing one. However, the next monthly candlesticks (May, June, July, and August) reflected recent bearish rejection being expressed around 1.1450.

In the long term, a projection target will be still located at 0.9450 if a bearish breakdown of the monthly demand level at 1.0550 occurs soon.

On the other hand, a bullish corrective movement towards 1.1500 will be possible only if May's monthly high of 1.1465 gets breached. This can be achieved if the current monthly candlestick closes above the weekly high (1.1465) by the end of August.

After such a long bearish rally, which started around the level of 1.1300, long-term bullish rejection took place at 1.0570 (monthly demand level).

Evident bullish recovery was expressed after hitting the level of 1.0800. Since then, bulls have been trying to achieve an extensive bullish movement towards 1.1500 and 1.1700.

Multiple ascending bottoms were established around the levels of 1.0830 and 1.1020. These levels corresponded to the current daily uptrend depicted on the chart.

Extensive bullish pressure was applied until bearish resistance was expressed around the price level of 1.1700.

Recently, the market looked overbought as the bulls were pushing above the price level of 1.1500 (Daily Supply Level). That is why, a bearish corrective movement took place towards the price level of 1.1160 shortly after.

Conservative traders can have a valid BUY entry anywhere around the price level of 1.1160 (corresponding to the depicted uptrend line as well as 61.8% Fibonacci level). S/L should be placed below 1.1100. T/P levels should be placed at 1.1330 and 1.1440.

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