InstaForex Wave Analysis - page 173
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Technical analysis of AUD/USD for March 14, 2014
The pair has been trying to cross the resistance level of 0.9085. If the pair closes above the level of 0.9085, then we can see a huge momentum upside towards the targets at 0.9205, 0.9246, 0.9450, and 0.9516. The pair did multiple attempts to cross the 0.9085 level from its daily high made on January 13, 2014. It succeeded three times, but was unable to close above that level. On the down side, 0.8992, 0.8977, and 0.8929 are the strong support zones. A move below the level of 0.8890 will lead to a fall towards 0.8730, 0.8693, and 0.8660. The daily momentum indicators show a buy signal.
Positional
S1 0.8992 R1 0.9085
S2 0.8890 R2 0.9205
S3 0.0.8693 R3 0.9246
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Technical analysis of EUR/JPY for March 17, 2014
Technical outlook and chart setups:
1. The EUR/JPY pair seems to be bouncing off right from the trend line support as seen here. Please note that this region is also the past resistance turned support area. It is recommended to book profits from short positions taken earlier. Aggressive trade setup would be to go long again, risk remains below 140.00.
2. Immediate support is at 138.50/136.50 (intermediary), followed by 134.00, 131.00 and lower, while resistance is at 144.00 (intermediary), followed by 145.50 respectively. 3. The structure reveals that a bullish bounce here, would bring back control with bulls again and prices should rally back towards fresh highs.
Trading recommendations:
Book profits on short positions. Initiate longs now (141.05), set stop below 140.00, target is open.
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Technical analysis of EUR/USD for March 19, 2014
The euro has risen in what could turn out to be an ending pattern. Based on the wave count below, we are in wave c of E up with the upper line at 1.396. Will it stop there or not? Will it take a European intervention to stop it? The Dollar index broke below the 79.5 mark, consolidating near the lowest levels. A break below the recent lows showing continued weakness in the dollar is going on. If the dollar goes into a collapse, trillions of the US dollars will start flowing out into other markets, then I am not sure what it will look like. 1.396 is going to be an important level. In Asia, the pair is trading at 1.3928. The pair is holding above the 21EMA in H4 chart. On the downside, support exists at 1.3910, 1.3891, 1.3862, and 1.3833. If the pair breaks the 1.3833 levels, it will drift to 1.3707. We can expect a strong reversal to happen at the level between 1.3845 and 1.3833. On the up side, if the pair trades above the 1.3966 level, we will see 1.4 and 1.41 levels.
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Technical analysis of EUR/USD for March 20, 2014
EUR/USD is trading near key support at the level of 21EMA at 1.3816. Today in Asia, the pair has broken the level and made a low at 1.3814 as of now. As we recommended earlier, hold shorts until the pair crosses the level of 1.396. In the daily chart, the RSI is showing a sell sign. For today, trading perspective at 1.3803 is the key level, if the pair holds this level, we will see some pullback from the current level.
On the upside, 1.3893 and 1.3945 is the major resistance level fon a hourly basis. In the H4 chart, RSI is in oversold condition, we can see some pullback. On the downside, if the pair breaks the level of 1.3803 it will drift towards 1.3774 1.3708, and 1.3643.Recommendation
- 1.3803 is the key level.
Intraday Buy with sl 1.3773 for targets at 1.3899, 1.3945.
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Technical analysis of Silver for March 21, 2014
Unlike gold, silver failed to go above the 40-week average. It lacks the same impulsive behavior so it might be doing something different. $20.42 is the 20wma support, below which I would consider that its still forming a triangle and could go down to the lower line at $19.22$.More analysis - at instaforex.com
Technical analysis of USD/CAD for March 25, 2014
USDCAD broke above the prior 1.1224 high and reached as high as 1.1279, indicating that the uptrend from 1.0182 has resumed. Further rise could be expected, and the next target would be in the 1.1500 area. Key support is at the upward trend line in the daily chart, only a clear break below the trend line support could signal the completion of the uptrend.
On an intraday basis, the pair has support at 1.1180 and 1.1149. Whereas 1.1149 is the major support; if it breaks, we will see the 1.1083 level.
S1 1.1180 R1 1.1205
S2 1.1149 R2 1.1246
S3 1.1083 R3 1.1279
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Technical analysis of USD/JPY for March 26, 2014
The USD/JPY moved sideways in a narrow range between 102.01 and 102.50. Resistance is at 102.50, a break above this level will trigger another rise to test the 103.76 resistance. Support is at 102.01, a break down below this level will signal completion of the uptrend from 101.20, then the following downward movement could bring the price to the 100 and 98.00 zone. More analysis - at instaforex.com
Technical analysis of USD/JPY for March 27, 2014
In Asia, Japan will not release any economic data and the US will release some economic data such as Unemployment Claims, Final GDP q/q, Final GDP Price Index q/q, Pending Home Sales m/m, Natural Gas Storage. So there is a big probability the USD/JPY will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.38.
Resistance. 2: 102.18.
Resistance. 1: 101.99.
Support. 1: 101.74.
Support. 2: 101.54.
Support. 3: 101.34.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.34) and resistance 3 (102.38). 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.
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Technical analysis of USD/CAD for March 28, 2014
The pair has been in a downtrend from the 1.1279 level. The pair has kept correcting for the last 5 days. It has erased all its gains this week. In Asia's trading session, the pair is trading at 1.1031. The pair is trading near the support trend line (purple) and below all the near moving averages that raises bearish view. On the downside, the pair has support at 1.0955 and 1.0910. A move below the level of 1.0910 makes real problems for bulls, and bears will take the pair towards the blue trend lines and the last lower support level at 1.0687 (200EMA).In the H4 chart, RSI is giving a buy signal. As of now, the pair is trading at 1.1031. We expect a pullback in 1 or 2 days. On the upside, it is facing resistance at 1.1089, above this, it will fly up to 1.1119, 1.114, and 1.1162.
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Gold technical analysis for March 31, 2014
Gold prce has made an impulsive decline from $1,391 to $1,285. This impulsive decline together with the fact that the upward breakout was fake, makes me believe that Gold price will have more downside pressure if the price remains below $1,400. I believe that over the next few months, we will see Gold price making new lower lows than $1,180 towards $1,100. Gold price in the short-term is oversold and that is why my strategy is to wait for an upward bounce before enterish short positions.
Gold price has finally broken out of the downward sloping red trend line. This is an initial reversal sign and a clue that the short-term bottom might be in. As long as price trades above $1,285, there are increased probabilities of moving higher towards $1,322. Short-term resistance is found at $1,308-10. Short-term support is at $1,285. I expect Gold price to retrace at least the 38% of the decline.
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