InstaForex Wave Analysis - page 184
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Intraday trading recommendations for Gold for September 15, 2014
The yellow metal drifted to a 5-month low, trading near support zone. The metal lost its shine by rising expectations that the US Federal Reserve will raise the interest rates rather earlier than later. The metal has a minor support zone between $1,225 (80.0 fib level) and $1,217 levels. Currently in Pacific session, the metal is trading at $1,225.50 level near the support zone. We recommend fresh selling only below $1,225 or $1,217 (safe trades). Risky traders can buy using sl $1,217 at cmp $1,225.50 for an upside target at $1,231, $1,234, $1,237 and $1,240 levels. The metal has intraday resistance at $1,235, $1,239, $1,242 and $1,248. Strong up move we can see only above $1,248 on a weekly basis. More analysis - at instaforex.com
Technical analysis of Silver for September 16, 2014
Technical outlook and chart setups:
Silver has been in a broad consolidation range since June 2013 as depicted on the weekly chart view here. The consolidation type has been decreasing resistance ( $25.10, $22.70, $21.60) and constant support ( $18.20/50). Normally such consolidation ranges break lower, hence it is recommended to enter long positions only after confirmed reversal signal appearance around the support levels. The metal is currently trading at $18.69 levels and might be preparing to produce bullish reversal signal. Please note that support is at $18.20/50 while resistance begins from $20.00 levels.
Trading recommendations:
Flat for now, looking to initiate long positions on reversal.
More analysis - at instaforex.com
Technical analysis of USD/JPY for September 17, 2014
In Asia, Japan will not release any economic data and the US will release some economic data such as CPI m/m, Core CPI m/m, Current Account, NAHB Housing Market Index, Crude Oil Inventories, Federal Funds Rate. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with medium volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 107.80.
Resistance. 2: 107.59.
Resistance. 1: 107.38.
Support. 1: 107.12.
Support. 2: 106.91.
Support. 3: 106.70.
More analysis - at instaforex.com
Technical analysis of Silver for September 18, 2014
Technical outlook and chart setups:
Silver remains in control of the bears, around $18.50 levels for now, as depicted here on the weekly chart view. As seen here, the support line of the overall consolidation is passing through the current levels and it is a make or break situation around $18.20/50 levels. RSI is hinting towards a potential bullish divergence at 34.00 levels (not seen here). A bullish reversal at current levels should be extremely favorable for bulls. Immediate support is at $18.20 while immediate resistance is the $18.80/90 level, followed by $19.90 respectively.It is yet recommended to remain flat and await a reaction here on the support line of consolidation.
Trading recommendations:
Remain flat for now, look to go long on confirmation.
More analysis - at instaforex.com
Intraday trading recommendations for GBP/USD for September 19, 2014
The Pound has given a stellar performance in yesterday's trade closing above 20Dsma. In todays session, the cable held the 20Dsma support and again moved higher, breached the 2-month descending trend line. The pair formed a triangle, and just breached the upper end of that, a daily close above the upper end of the triangle makes further bullish movement in the near term. Today, as of now, the cable made a high at 1.6460 and trading at 1.6422. The pair has resistance between 1.6586-1.6590 levels. A weekly close above these, makes it more bullish in the short term. On the down side, it has support at 1.6380.
Support 1.6380 1.6245 1.6160
Resistance 1.6440 1.6590 1.6625
More analysis - at instaforex.com
Short-term trend levels and an intraday recommendation for Gold for September 22, 2014
The yellow metal drifted to $1,213 levels in Friday's session, but managed to close above $1,215 levels. The strong US dollar puts pressure on the metal. Now the metal is trading at $1,215.70, it made a low at $1,214.50. The metal has support at $1,212 (200MEma) and $1,185 (200MSma). The short- and medium-term trend setup at these levels; in case of a daily and weekly close below $1,212, the metal will drift towards $1,185, $1,150 and may be even lower to $1,120 levels. Twice these levels pushed the metal from the lower levels. In June 2013 the metal made a low at $1,180, hit the 200MEma, but 200MSma helped the metal to push higher levels and in December 2013 the situation repeated. Currently the metal testing its fortune at the same support zones again. If this time the metal holds the support, it will give a good rally again, but the chances are very remote. We can still see the bear image in the metal chart.
Support $1,212, $1,185-$1,180, $1,120
Resistance $1,228, $1,242, $1,254
More analysis - at instaforex.com
GBP/USD Intraday Technical analysis
Technical outlook and chart setups:
Gold had produced a doji yesterday around $1,213.00/15.00 levels. Potential indications from here are for a reversal or at least a pullback towards the $1,280.00 region (fibonacci 0.618 resistance of fall from $1,300.00 to $1,208.00). The metal needs to at least clear $1,240.00 levels to confirm, that bulls are ready to take control back. Immediate support is seen around $1,200.00 levels, followed by $1,180.00, while resistance is seen at $1,240.00, followed by $1,273.00 and higher up respectively. As seen here, the metal is in process to produce a morning star bullish reversal candlestick pattern. It is recommended to plan a long entry after the above signal is confirmed on the daily chart view.
Trading recommendations:
Remain flat for now. Looking to go long.
More analysis - at instaforex.com
Short-term analysis of USD/CAD for September 29, 2014
The pair made the highest closing in the previous week. As we have been recommending to buy for the last couple of weeks for a target at 1.1145, 1.1195, 1.1224. We are still waiting for the rest of the targets. For the longer-term perspective, a strong breakout above 1.1230, we can see 1.1938. This view is valid with sl 1.0865. We initiated the buy at 1.1 in the August 22 article. As of now toady the pair went up approximately 200 pips, and we are still waiting for more upside. This week the pair opened on a very strong note (opened lower). We expect the uptrend to continue.
For an hourly and intraday view, the pair has support at 1.1151 and 1.1138, below this, 1.1110 and 1.1074. Use a dip to add the long positions.
More analysis - at instaforex.com
Technical analysis of AUD/USD for September 30, 2014
The AUD/USD pair had fallen from the level of 0.8920, and the decline was extended further to as low as 0.8720 yesterday; furthermore, the price has been below 23.6% of Fibonacci retracement levels in the daily chart. Additionally, it should be noted that the price has formed strong resistance at the 0.8920 level and minor resistance at 0.8780. Moreover, this strong level has still been trapped between 23.6% of Fibonacci retracement levels and 00% in the daily chart. As it is known, history usually repeats itself at a certain level. So it will be of the wisdom to use historic quotes to determine future prices; hence, it is probably that the market will show bearish signs again in order to indicate a bearish opportunity at the level of 0.8780 with targets towards the strongest support around the 0.8659 level. Equally important, the market will form a range between two important levels of 0.8720 and 0.8660, so the range will be 80 pips precisely on the last day of September. Also, it should be noted that the double bottom will set at the level of 0.8659.
More analysis - at instaforex.com
GBP/USD intraday technical levels and trading recommendations for October 1, 2014
Overview:
On July 15, extensive bearish impulse was initiated. Since then, the GBP/USD pair has been down-trending below the depicted downtrend line.
Two bearish impulses were previously initiated around 1.7180 and 1.6630 corresponding to the downtrend line. The price level of 1.6140 constituted a prominent weekly support to meet the pair. Bullish rejection was witnessed in the previous visit. This led to bullish weekly closure ( above the weekly support level around 1.6250 ).
Retracement towards the price zone of 1.6350-1.6400 took place as expected where a new bearish impulse is being established applied as expected in previous articles.
This price zone corresponds to the upper limit of the depicted channels as well as Fibonacci level of the recent bearish impulse between 1.7180 and 1.6060.
Trading recommendations:
Based on the previous data, the market offered a valid SELL opportunity around 1.6460 during last week's consolidations.
This short position remains valid as long as the bears keep defending price zone of 1.6250-1.6320 ( 23.6% Fibonacci level and previous broken bottom ). Hence, Stop Loss should be located slightly above these price zone. This secures some of the profits.
Bearish targets are located around 1.6160 and 1.6080.
Performed by Mohamed Samy, Analytical expert
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