Technical analysis on EU,GU and major pairs-part 2

[johny5]

Technical analysis of USD/JPY for January 13, 2015

In Asia, Japan will release the Economy Watchers Sentiment, Bank Lending y/y, and Current Account. Besides, the U.S. will publish some economic data such as IBD/TIPP Economic Optimism, JOLTS Job Openings, Federal Budget Balance, 10-y Bond Auction, JOLTS Job Openings, and NFIB Small Business Index. 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: 118.50.
Resistance. 2: 118.28.
Resistance. 1: 118.05.
Support. 1: 117.76.
Support. 2: 117.54.
Support. 3: 117.30.

Performed by Arief Makmur, Analytical expert

 

[johny5]

Gold technical analysis for January 13, 2015

Gold price has broken above the important resistance at $1,235-38 and is making new trend highs. Short-term trend remains bullish as gold price makes higher highs and higher lows. Target is now at $1,260 as long as the price holds above $1,200.

The triangle pattern has been broken upwards from yesterdays late trading. Price is above the Ichimoku cloud and tenkan-sen is crossing the kijun-sen. This is another bullish signal that supports my bullish view for an upward move towards $1,260 at least.

Performed by Alexandros Yfantis, Analytical expert

 

[johny5]

Technical analysis of Silver for January 13, 2015

Technical outlook and chart setups:
Silver is trading at $16.70/75 levels for now and should be targeting at least $18.00/30 levels before a meaning pullback occurs. It is still recommended to remain long and also look to add during intraday dips. Immediate support is seen at $16.25/00 levels, followed by $15.50, $14.50 and lower while resistance is seen at $17.40/50 levels, followed by $17.80/18.00 and higher respectively. As discussed earlier, a potential inverted head and shoulder reversal is unfolding slowly but steadily with $15.50 being projected as the right shoulder. Bulls are poised to remain in control till prices stay above $15.50 and subsequently above $14.50 levels.
Trading recommendations:
Remain long, stop at $14.50, target is open. Good luck!

Performed by Harsh Japee, Analytical expert

 

[johny5]

Technical analysis of EUR/USD for January 14, 2015

When the European market opens, some economic news will be released such as German 10-y Bond Auction, Industrial Production m/m, and French CPI m/m. The US will publish the economic data too such as the Beige Book, 30-y Bond Auction, Crude Oil Inventories, Business Inventories m/m, Import Prices m/m, Retail Sales m/m, and Core Retail Sales m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1826.
Strong Resistance:1.1819.
Original Resistance: 1.1808.
Inner Sell Area: 1.1797.
Target Inner Area: 1.1769.
Inner Buy Area: 1.1741.
Original Support: 1.1730.
Strong Support: 1.1719.
Breakout SELL Level: 1.1712.

Performed by Arief Makmur, Analytical expert

 

[johny5]

Intraday technical levels and trading recommendations for GBP/USD for January 14, 201

Consolidation movement range between the price levels of 1.5770 and 1.5550 represented the state of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.
As anticipated, the bearish breakout below 1.5550 exposed lower targets directly. The bears have already reached the price level of 1.5050 that has not been hit since August 2013.
For RISKY traders, LONG entries was suggested around price level of 1.5100. Targets would be located initially around 1.5400. Stop Loss to be located below 1.5025. It is running in profits now (+100 pips).
Conservative traders should wait for a bullish pullback towards the recent SUPPLY zone around 1.5480-1.5550 for a low-risk SELL entry. The stop loss should be located above 1.5560.
Note that the price level of 1.5480 corresponds to 50% Fibonacci level as well as the upper limit of the current movement channel.

Performed by Michael Becker, Analytical expert

 

[johny5]

Technical analysis of USD/JPY for January 14, 2015

In Asia, Japan will release the Prelim Machine Tool Orders y/y, 30-y Bond Auction, and M2 Money Stock y/y. The US will publish some economic reports such as Beige Book, 30-y Bond Auction, Crude Oil Inventories, Business Inventories m/m, Import Prices m/m, Retail Sales m/m, and Core Retail Sales m/m. So there is a big probability the USD/JPY pair will move with low to medium volatility during the Asian day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 118.10.
Resistance. 2: 117.88.
Resistance. 1: 117.65.
Support. 1: 117.36.
Support. 2: 117.14.
Support. 3: 116.90.

Performed by Arief Makmur, Analytical expert

 

[johny5]

Gold technical analysis for January 14, 2015

Gold price has reversed lower after reaching $1,245 and making a higher high than the one made in the early December. Despite a higher high sellers have pushed the precious metal back below $1,230. If this is a fake breakout, the reversal will be destructive and we could see new lows, specially if support at $1,200 fails to hold.

Gold price as shown on the daily chart above is pulling back inside the triangle. This could be a fake breakout. If this is true, we should expect gold price to move sharply towards $1,180 and then towards the recent lows at $1,130. If, on the other hand, gold manages to break above $1,245, then the bullish scenario with $1,270 as the first target will be preferred.

Performed by Alexandros Yfantis, Analytical expert

 

[johny5]

Technical analysis of Silver for January 14, 2015

Technical outlook and chart setups:
Silver reached $17.20 levels before pulling back again towards $16.80 levels as seen on the 4H chart view depicted here. The metal should be well supported around $16.50/60 levels as immediate trend line support and past resistance turned support is around the same region. Immediate price support is seen at $16.20 levels, followed by $15.50, $14.50 and lower while resistance is seen at $17.40/50, followed by $17.80/18.00 and higher respectively. Bulls seem to be in control for now and hence it is recommended to hold earlier long positions while also looking to add up further on dips. The metal should print higher highs till $15.50 levels remain intact.
Trading recommendations:
Remain long and add on dips, stop at $14.50, the target is open. Good luck!

Performed by Harsh Japee, Analytical expert

 

[johny5]

Intraday technical levels and trading recommendations for EUR/USD for January 15, 201

The market currently looks oversold below the price level of 1.2000 and 1.1900 (prominent psychological SUPPORT & the lower limit of the movement channel on the H4 chart).
Currently, SELLING the EUR/USD should be avoided as much as possible at such historically low prices.
On the other hand, BUYING the pair is considered a low-risk opportunity but with low probability after such strong bearish trend.
Bullish pullback should be anticipated when looking for better prices to sell the pair off.
The price zone of 1.1750-1.1820 is the recently established SUPPLY zone. Short-term SELL positions can be taken there provided that the market keeps trading below the price level of 1.1880.

Performed by Michael Becker, Analytical expert

 

[johny5]

Intraday technical levels and trading recommendations for GBP/USD for January 15, 201

Consolidation movement range between the price levels of 1.5770 and 1.5550 represented the state of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.
As anticipated, the bearish breakout below 1.5550 exposed lower targets directly. Bears have already reached the price level of 1.5050 that has not been hit since August 2013.
For RISKY traders, LONG entries was suggested around the price level of 1.5100. Stop Loss to be located below 1.5025.
It is running in profits now (+80 pips). The bulls should defend the recent DEMAND zone located around 1.5160-1.5115 to pursue towards 1.5400.
Conservative traders should wait for a bullish pullback towards the recent SUPPLY zone around 1.5480-1.5550 for a low-risk SELL entry. The stop loss should be located above 1.5560.
Note that the price level of 1.5480 corresponds to 50% Fibonacci level as well as the upper limit of the current movement channel.

Performed by Michael Becker, Analytical expert