Instaforex Analysis

Daily analysis of Silver for July 03, 2014

https://forex-images.instaforex.com/...silver_3-7.png

Overview
According to our yesterday's expections, the prices close below the Resistance level of 21.20 would give new opportunities for sell signals. As shown in the H4 chart, the metal has failed to break the Resistance level of 21.20 and bounced from it. Currently, the metal is trying to break the Support level of 20.90 and is approachig it to continue its bearish move. On the other hand, the metal's rebound from the Support level of 20.90 cancels the bearish scenario.

Resistance and support levels:
R3 (21.75), R2 (21.50), R1 (21.20), S1 (20.90), S2 (20.50), S1(20.20).

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Technical analysis of Gold for July 07, 2014

https://forex-images.instaforex.com/...sd07072014.jpg

Technical outlook and chart setups:
1. Gold is finally seen to be reversing after printing highs at $1,330.00 levels last week. The downfall should accelerate towards at least $1,290.00/80.00 levels if not lower. Recommendations are to remain short for now.
2. Support is seen at $1,280.00, followed by $1,260.00, $1,240.00, $1,230.00 and lower while resistance is seen at $1,350.00/60.00, followed by $1,388.00 and higher respectively.
3. The structure indicates that Gold is headed lower for now before reversing.

Trading recommendations:
Remain short, stop at $1,340.00, target is open.


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Technical analysis of USD/JPY for July 08, 2014

https://forex-images.instaforex.com/..._!UJ080714.jpg

In Asia, Japan will release the Current Account, Bank Lending y/y, Economy Watchers Sentiment. The US will release some economic data such as NFIB Small Business Index, JOLTS Job Openings. So there is a big probability the USD/JPY pair will move with low volatility during the day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.29.
Resistance. 2: 102.09.
Resistance. 1: 101.89.
Support. 1: 101.64.
Support. 2: 101.44.
Support. 3: 101.24.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.24) and resistance 3 (102.29). 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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Daily analysis of GBP/JPY for July 08, 2014

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In H4 chart, the price closed below the support level of 174.75 which gave a new opportunity for more bearish signals today. As shown, the price has already broken the Support area and now is approaching the support level of 173.50. Closing below this level again may give us more sell signals till the price tests the support level of 172.75. So, we can consider our first target a few pips above this support level, then 172.30 as the second level. But first, we should wait for breaking the Support level of 173.50 and closing 4H below it, before making a decision. But the price's closing above the support level cancels the bearish scenario.

Resistance and support levels:
R3 (175.30), R2 (174.75), R1 (174.00), S1 (173.50), S2 (172.75), S3 (172.30).

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Technical analysis of EUR/USD for July 9, 2014

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Trading recommendations:
According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3585 and 1.3625. Moreover, it should be noted that the market was quite stable and the downward trend was also obvious. Futhermore, likewise, the range was around 130 pips last week. Additionally, the value of 38.2% Fibonacci retracement levels is 1.3629 for that the key level of 1.3626, is available for a downtrend to confirm the bearsh market. Therefore, sell deals are recommended below the 1.3626 level with targets at 1.3585 (the double bottom) as it will resume towards 1.3552 in order to test weekly support 1. It should be noted the descending movement will probably be lower than 1.3511 level (it will form a new double bottom). Please check out the market volatility before investing, because the sight price may have already been reached and the scenarios would become invalidate.


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Technical analysis of GBP/CHF for July 11, 2014

https://forex-images.instaforex.com/...hf11072014.jpg

Technical outlook and chart setups:
1. The GBP/CHF pair is bouncing off the fibonacci 0.50 support levels around 1.5250 levels, as seen here. Please, note that the past resistance turned to support is around the same levels. Recommendations are to initiate long positions, risk remains just below 1.5240.
2. Support is seen at 1.5150, followed by 1.4950, 1.4780 and lower while resistance is seen at 1.5350/60 levels respectively.
3. The structure indicates that GBP/CHF pair may manage to push higher up from 1.5250 levels. Only a break below 1.5150 is a concern.

Trading recommendations:
Initiate longs, stop below 1.5240, target is open.

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Technical analysis of Silver for July 14, 2014

https://forex-images.instaforex.com/...sd14072014.jpg

Technical outlook and chart setups:
1. Silver is trading at the $21.40 levels for now. It is expected to correct itself at least towards $20.00 and $19.75 levels before rallying further up. Recommendations are to remain flat for now and look to go long around the fibonacci support level as depicted here.
2. Support is seen around $19.75 (fibonacci), followed by $19.00, $18.60 and lower, while resistance is seen at $21.70, followed by $22.30 and higher up respectively.
3. The structure indicates that Silver is a clear buy on dips from here on.

Trading recommendations:
Remain flat for now. Consider to buy lower.

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Technical analysis of GBP/JPY for July 21, 2014

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The pair held the 50 DSma and pushed a bit higher. The previous week, the pair lost support at 20 DSma and closed below it, but held the 50 DSma and is trading above it. The weekly trading pattern is framed between 172.50- 173.77 levels. On the down side, if the pair hits the 50 DSma and closes below it, it can extend its fall to 172.11, 171.75 and 170.95 levels.
Support zone is between 172.50-172.36.
Resistance 173.46, 173.77.
or an hourly basis, the pair is trading below the hourly moving averages. The resistance levels are at 173.32 and 173.65 levels. The support levels are at 173.05 (8hr low), below this 172.69 (12 and 16hr low).


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Technical analysis of EUR/JPY for July 22, 2014

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The hourly oscillators favor the pullback mode. The pair is holding above the hourly moving averages. In Asia's session, it is facing resistance at 137.39-137.45. Fresh buyers can buy above 137.50 with targets at 137.75 and 138 levels. On the down side, the pair has support at 137 and 136.85 levels. Below 136.85, the pair looks weak. On the down side, the pair has weekly support at 136.20/136 levels.
A day close below 136, it can drift up to 134 levels. A day close above 137.75, the pair can fly up to 138.50 on a positional basis.
Intraday buying is only above 137.50 with targets at 138, 138.25, 138.40 and 138.50.

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Gold wave analysis for July 23, 2014

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Gold price is trading above $1,300, but I expect this important psychological support level to be broken soon. Gold price is below the Ichimoku cloud in the 4-hour chart confirming our view that $1,346 was an important top and that the trend has reversed downwards. At $1,346, I still believe we have seen the end of wave E of wave 4 and we are now at the beginning of a new downward move to $1,000.
Gold price was rejected at the 61.8% Fibonacci retracement and did not manage to break above the Ichimoku cloud. The Ichimoku cloud is putting pressure on the Gold price and I expect to see at least a move that will push price lower than $1,290. Support is found at $1,303 and resistance, at $1,320.


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Technical analysis of USD/CHF for July 24, 2014

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Overview:
The price of the USD/CHF pair is supposedly going to form strong support at the level of 0.8987 (78.6% of Fibonacci retracement levels in the H4 chart). It formed the last bearish wave last week. It should be noted that the price is going to form a new double bottom at this level, but the level of 0.8997 acts as strong support because it is representing the first weekly support this week. So, the saturation is likely to take place around 0.9000. Moreover, the RSI indicators are also going to call for an uptrend at the same level we indicated above. Therefore, it is possible that the market will start showing bullish signs. In the other words, buy deals are recommended above 0.8987 with the first target seen at the 0.9033 level and further at the 0.9050 level to test the weekly resistance one. Thus, it also should be noted that the level of 0.9050 is going to form a minor resistance. Additionally, the level of 0.9085 will act as a major resistance.


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Short-term forecast for USD/SGD for July 24, 2014

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The pair holds the support at 1.23 levels. The pair is trading in a complete bearish zone, moving below the medium-term moving averages. Until the pair holds the 1.23 level, the down move will pause for sometime. It's been making lower highs for 6 weeks. If the pair hits the 1.23 level, it can extend its fall to 1.2240 and 1.2128 levels.

The daily RSI indicates a pullback sign. The pair made a minor double bottom at 1.2340 in the daily chart and is moving to the initial resistance level at 1.24, a high made at 1.2389 in today's Asia's session. If the pair manages to trade above 1.24, it can fly up to 1.2421, 1.2458. A day close above 1.2458, the short-term trend turns to positive towards 1.2515 and 1.2560 levels.

Positional selling is only below 1.23 for targets at 1.2228 and 1.2243.

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Technical analysis of Silver for July 28, 2014

https://forex-images.instaforex.com/...sd28072014.jpg

Technical outlook and chart setups:

1. Silver continues to retrace lower towards $20.00 and $19.60 levels for now. The metal is a clear buy on dips on the longer run but needs to correct a little further than current levels. Recommendations are to buy on dips.

2. Support is seen at $19.60, followed by $19.00, $18.60 and lower while resistance is seen at $21.40, followed by $21.70, $22.30 and higher respectively.

3. The structure indicates that Silver needs to correct further towards $19.60 levels before bulls take back control.

Trading recommendations:

Remain flat for now. Buy on dips around $19.60.

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Technical analysis of EUR/USD for July 29, 2014

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The pair held the support at 1.3420 and is trading at 1.3438 in the Pacific session. In the daily chart, the daily momentum oscillators seated at oversold levels. The support zone is between 1.3420-1.3395. Traders are eyeing Wednesday's FOMC meeting. We recommend selling only below 1.3370 levels. The pair has resistance at 1.3496 (40Dema) levels. Until it trades below the 40 Dema, the downside risk still emerges in this week.

Support: 1.3420, 1.3395, 1.3370.

Resistance: 1.3496, 1.3546, 1.3585.

Intraday cmp 1.3439

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Technical analysis of GBP/CHF for July 30, 2014

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Technical outlook and chart setups:

1. The GBP/CHF pair has remained virtually unchanged since last few trading sessions. The pair is stalling around 1.5360/70 mark for now having broken the immediate line of support, as seen here. Recommendations are to remain short, risk remains above 1.5430/50 levels.

2. Support is seen at 1.5220, followed by 1.5150 and lower while resistance is seen at 1.5380/90 (interim), followed by 1.5430/50 respectively.

3. The structure indicates that GBP/CHF should be correcting lower at least for now.

Trading recommendations:

Remain short, stop above 1.5450, target is open.

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Intraday recommendation of GBP/USD for August 01, 2014

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The cable pushed towards 20WSma at 1.6857, and is trading above that. In yesterday's session, the cable hit the 61.8 fib level and exactly closed at that level. The daily momentum oscillators are indicating an oversold level. On the down side, it has strong support at 1.6857, 1.6785 (80 fib level) and 1.6763 (30WSma) levels. Resistance is at 1.6923, 1.6975 and 1.70 levels. Until the pair trades below 1.70, the bears will have the grip in the new month as well.

Support 1.6857 1.6785 1.6763

Resistance 1.6925 1.6955 1.70

Intraday cmp 1.6878

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USD/CAD intraday technical levels and trading recommendations for August 4, 2014

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Since the USD/CAD pair failed to show enough bullish momentum above 1.1200 during the last visit on March 20, the pair has been downtrending within the depicted bearish channel, which managed to push towards the price zone between 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart) where a prominent congestion zone was established.

As depicted on the chart, bullish rejection was expressed at retesting of the lower limit of the bearish channel around 1.0630 (It's the origin of the previous bullish impulse initiated in December 2013 as well).

A valid BUY entry was suggested. Expected targets got visited around 1.0750 and 1.0820.

The USD/CAD pair had a strong resistance zone located between 1.0830 (61.8% Fibonacci Level) and 1.0945 ( 50% Fibonacci Level of the same bearish swing ).

The price zone around 1.0940 (50% Fibonacci Level ) remains the nearest Intraday resistance level that comes to meet the pair.

Bearish rejection may be anticipated at retesting especially after such a long bullish rally that originated off 1.0650 and 1.0710. However, daily closure above which enables the bulls to shoot towards 1.1050 initially.

On the other hand, the price level of 1.0775 remains the nearest support to meet the pair where a valid BUY entry may be taken with Stop Loss below 1.0715.

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Technical analysis of USD/JPY for August 05, 2014

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In Asia, Japan will release the 10-y Bond Auction and the US will release some economic data such as Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders m/m, IBD/TIPP Economic Optimism. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.13.
Resistance. 2: 103.93.
Resistance. 1: 102.72.
Support. 1: 102.49.
Support. 2: 102.29.
Support. 3: 102.08.

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Technical analysis of Silver for August 06, 2014

https://forex-images.instaforex.com/...sd06082014.jpg

Technical outlook and chart setups:
1. Silver is seen to be forming bottom around $19.70/80 levels as seen here and expected earlier. A morning star bullish reversal candlestick is potentially being produced on the 8H chart as seen here. A confirmation here would be extremely bullish for the metal.
2. Support is seen at $19.40, followed by $18.60 and lower while resistance is seen at $20.80, followed by $21.20 and higher respectively.
3. The structure indicates that Silver is preparing to reverse from current levels.

Trading recommendations:
Initiate long positions, stop at $19.40, target is open.

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ITechnical analysis of Gold for August 08, 2014

https://forex-images.instaforex.com/...sd08082014.jpg

Technical outlook and chart setups:
1. Gold is pushing higher as expected since $1280.00 levels. The metal could pullback towards the $1,290.00/95.00 region again, before continuing further rally. Recommendations are to hold on to long positions and also look to add further on dips.
2. Support is seen at $1295.00/90.00, followed by $1280.00 and lower while resistance is seen at $1,224.00 followed by $1,240.00 and higher respectively.
3. The structure indicates that Gold remains clear buy on dips for now.

Trading recommendations:
Hold long positions for now, also add towards $1,295.00, stop at $1,280.00.


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Technical analysis of GBP/CHF for August 12, 2014

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Technical outlook and chart setups:
1. The GBP/CHF pair could still continue to drift lower until 1.5070 levels as depicted here. The pair may stage intermediary pullback rallies though. As discussed earlier, a potential head and shoulder top and reversal is under way (with right shoulder around 1.5350).
2.Support is seen at 1.5140, followed by 1.4960/70 and lower while resistance is seen at 1.5350, followed by 1.5430/50 respectively.
3. The structure indicates that GBP/CHF could continue drifting lower at least towards 1.5070 before a meaningful pullback can materialize.

Trading recommendations:
Remain short, move stop to break even, target is 1.5070.

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Technical analysis of USD/JPY for August 13, 2014

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In Asia, Japan will release the Prelim GDP q/q, Monetary Policy Meeting Minutes, Prelim GDP Price Index y/y, and the US will release some economic data such as Core Retail Sales m/m, Retail Sales m/m, Business Inventories m/m, Crude Oil Inventories, 10-y Bond Auction. So there is a big probability the USD/JPY will move with low to medium volatility during the day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.78.
Resistance. 2: 102.38.
Resistance. 1: 102.46.
Support. 1: 102.13.
Support. 2: 101.93.
Support. 3: 101.73.

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Technical analysis of USD/JPY for August 14, 2014

https://forex-images.instaforex.com/...140814/!UJ.jpg

In Asia, Japan will release the Core Machinery Orders m/m. The US will release some economic data such as Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.13.
Resistance. 2: 102.83.
Resistance. 1: 102.73.
Support. 1: 102.48.
Support. 2: 102.27.
Support. 3: 102.07.


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Intraday analysis of Gold for August 15, 2014

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In Asia, Japan will release the Core Machinery Orders m/m. The US will release some economic data such as Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

A weekly close above $1,309, the bulls will hold their strength. The metal is facing strong resistance at higher levels. Until the metal closes above $1,324.50, sell on an up move. The daily Stochastics indicates a sell signal. On the bullish front, the metal closed above the major support levels, but it was unable to breach the $1,324.50 levels. On the downside, $1,263 is an open target until gold closes above $1,324.50. For an intraday perspective, the metal has support at $1,310.50, below this, $1,305.80 and $1,304.50. Buy above $1,314
Sell below $1,308


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Technical analysis of Silver for Aug 25, 2014

https://forex-images.instaforex.com/...sd25082014.jpg

Technical outlook and chart setups:
1. Silver seems to have formed base at $19.30 levels last week, and should resume rally from current price of $19.43/45. Please note that the metal is just shy of the fibonacci 0.786 support level ($19.26). Recommendation is to remain long, risk remains below $19.00.
2. Support is seen at $19.00, followed by $18.60 and lower while resistance is seen at $20.10 (interim), followed by $21.70, $22.30 and higher respectively.
3. The structure indicates that Silver rally from current levels remains highly probable.

Trading recommendations:
Remain long, stop below $19.00, target is open.

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Technical analysis of USD/JPY for August 28, 2014

https://forex-images.instaforex.com/...140828/!UJ.jpg

In Asia, Japan will not release any economic data news but the US will release its Prelim GDP q/q, Unemployment Claims, Prelim GDP Price Index q/q, Pending Home Sales m/m, and Natural Gas Storage data. So there is a big probability USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

Todays technical levels:
Resistance. 3: 104.29.
Resistance. 2: 104.09.
Resistance. 1: 103.98.
Support. 1: 103.63.
Support. 2: 103.43.
Support. 3: 103.22.

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Technical analysis of USD/JPY for August 29, 2014

https://forex-images.instaforex.com/...140829/!UJ.jpg

In Asia, Japan will release its Household Spending y/y, Tokyo Core CPI y/y, National Core CPI y/y, Unemployment Rate, Prelim Industrial Production m/m, Retail Sales y/y, and Housing Starts y/y. Meanwhile, the US will unveil its Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, and Revised UoM Inflation Expectations. So there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

Todays technical levels:
Resistance. 3: 104.24.
Resistance. 2: 104.04.
Resistance. 1: 103.83.
Support. 1: 103.59.
Support. 2: 103.29.
Support. 3: 103.18.


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Technical analysis of USD/JPY for September 02, 2014

https://forex-images.instaforex.com/...140829/!UJ.jpg

In Asia, Japan will release its Monetary Base y/y, Average Cash Earnings y/y, 10-y Bond Auctionand the US will release its Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, and ISM Manufacturing Prices. So there is a big probability USD/JPY will move with low to medium volatility today.

Todays technical levels:
Resistance. 3: 105.09.
Resistance. 2: 104.89.
Resistance. 1: 104.68.
Support. 1: 104.43.
Support. 2: 104.22.
Support. 3: 104.02.

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Technical analysis of GBP/CHF for Sep 03, 2014

https://forex-images.instaforex.com/...hf03092014.jpg

Technical outlook and chart setups:
1. The GBP/CHF pair has reacted with an engulfing bearish candlestick signal around 1.5250/60 levels as seen here. The pair has reacted from fibonacci 0.618 resistance level and should continue drifting lower. It is recommended to remain short, risk remains above 1.5450.
2. Support is seen at 1.4960, followed by 1.4760/70 and lower while resistance is seen at 1.5350, and 1.5450 respectively.
3. The structure indicates that GBP/CHF is in control of bears for now.

Trading recommendations:
Remain short, stop above 1.5450, target is open.


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Technical analysis of USD/JPY for September 04, 2014

https://forex-images.instaforex.com/...140904/!UJ.jpg

In Asia, Japan will release the Monetary Policy Statement and BOJ press conference. Besides, the US will release some economic data such as ADP non-farm employment change, trade balance, unemployment claims, revised non-farm productivity q/q, revised unit labor costs q/q, final services PMI, ISM non-manufacturing PMI, natural gas storage, and crude oil Inventories. So, there is a big probability the USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:
Resistance. 3: 105.48.
Resistance. 2: 105.23.
Resistance. 1: 105.02.
Support. 1: 104.77.
Support. 2: 104.57.
Support. 3: 104.36.


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Technical Analysis of USD/CAD for September 05 , 2014

https://forex-images.instaforex.com/...SDCADDaily.png

The pair drifted and held the support at 50Dsma in the previous day. Twice the 5Dsma gave enough support to push the price to the North. The pair has strong support at 1.0803 for the short term and 1.0856 for the near-term basis. The pair is facing strong resistance at 1.09. We strongly recommend to buy only above this with the targets at the 1.0910, 1.0926, and 1.0940 levels, even 1.0960 is also possible. On the down side, the pair has strong support at 1.08820 for an intraday session. Below this, the pair will face selling pressure up to the 1.0873, 1.0869, and 1.0856 levels. The strong buy will appear above 1.1 for the 1.1068 and 1.111 levels in the short term.


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Technical analysis of GBP/CHF for September 08, 2014

https://forex-images.instaforex.com/...hf08092014.jpg

Technical outlook and chart setups:

1. The GBP/CHF pair is seen to be bouncing lower from the line of resistance here. As expected, the pair has reversed from 1.5250/75 levels last week and has also re-tested the same. Currently trading at 1.5100/10 levels, the pair is expected to continue drifting lower to the 1.4900 and subsequently to 1.4800 levels. On the flip side, only a push above 1.5350 levels would be of concern to bears.

2. Support is seen at 1.4960, followed by 1.4760 levels and lower while resistance is seen at 1.5350/60, followed by 1.5430/50 respectively.

3. The structure indicates that GBP/CHF could remain in control of bears till 1.49/1.48 levels at least.


Trading recommendations:

Remain short for now, stop at 1.5350, target is 1.4800 levels.

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Technical analysis of EUR/JPY for September 09, 2014

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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.

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Technical analysis of USD/JPY for September 11, 2014

https://forex-images.instaforex.com/...140911/!UJ.jpg

In Asia, Japan will release the BSI Manufacturing Index. Besides, the US will also release some economic data such as Natural Gas Storage and 30-y Bond Auction. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:
Resistance. 3: 107.25.
Resistance. 2: 107.04.
Resistance. 1: 106.83.
Support. 1: 106.58.
Support. 2: 106.37.
Support. 3: 106.16.

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Intraday trading recommendations for Gold for September 15, 2014

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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.

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Technical analysis of Silver for September 16, 2014

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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.


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Technical analysis of USD/JPY for September 17, 2014

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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.

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Technical analysis of Silver for September 18, 2014

https://forex-images.instaforex.com/...sd18092014.jpg

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.


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Intraday trading recommendations for GBP/USD for September 19, 2014

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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


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Short-term trend levels and an intraday recommendation for Gold for September 22, 2014

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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


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