Daily Forecast

Technical Analysis: 29/09/2014

EURUSD:

Our preference: Bearish setups on a pull-back move to within 1.2685 – 1.2725 with targets @ 1.2665 & 1.2642 in extension.

Alternative scenario: Above 1.2725, watch for bullish setups with 1.2741 as target and 1.2764 in extension.

Comment: EUR/USD remains capped by negative trendline. Note that hourly stochastic and RSI are oversold. Watch the trendline area and level of 1.2715 (50% Fibonacci).

GOLD:

Our preference: Bearish setups within 1215.50 – 1225.30 with targets @ 1212.10 & 1206.68 in extension.

Alternative scenario: Above 1225.30, watch for bullish setups with 1229.63 as target and 1235.05 in extension.

Comment: Gold price remains in consolidation mode. Note that 20 MA has crossed above 50 MA on hourly chart. The price is moving above 20 MA and 50 MA on hourly chart. However, intraday bias is neutral. Hourly stochastic and RSI are mixed.

Technical Analysis: 26/09/2014
EUR/USD:

Our preference: Bearish setups on a pull-back move to within 1.2755 – 1.2800 with targets @ 1.2697 & 1.2649 in extension.

Alternative scenario: Above 1.2800, watch for bullish setups with 1.2852 as target and 1.2900 in extension.

Comment: A pull-back move occurs to the confluence zone. Note that hourly stochastic is oversold while RSI is flat near the oversold area. Watch the level of 1.2800 as intraday key resistance (near 50% Fibonacci).

GOLD:

Our preference: Bearish setups within 1215.50 – 1225.30 with targets @ 1212.10 & 1206.68 in extension.

Alternative scenario: Above 1225.30, watch for bullish setups with 1229.63 as target and 1235.05 in extension.

Comment: Gold price has pulled back into the confluence zone. Note that 20 MA has crossed above 50 MA on hourly chart. The price is moving above 20 MA and 50 MA on hourly chart. Note that hourly stochastic is oversold but RSI is overbought. 

Wednesday, 24 September 2014 - 4:00 AM GMT

EUR/USD

Risk reward: 1.62

Trend: Up

Buy at 1.2839 SL 1.2807 TP 1.2896

USD/JPY

Risk reward: 0.91

Trend: Down

Sell at 108.69 SL 109.01 TP 108.16

GBP/USD

Risk reward: 2.09

Trend: Strong Up

Buy at 1.6376 SL 1.6344 TP 1.6447

USD/CHF

Risk reward: 1.13

Trend: Down

Sell at 0.9407 SL 0.9439 TP 0.9358

The current support/resistance levels are:

EUR/USD 1.3474, 1.3454, 1.3422 - 1.3596, 1.3616, 1.3648

USD/JPY 100.79, 100.68, 100.50 - 101.69, 101.80, 101.98

GBP/USD 1.7018, 1.6992, 1.6951 - 1.7168, 1.7194, 1.7235

USD/CHF 0.8925, 0.8911, 0.8889 - 0.8969, 0.8983, 0.9005

Monday, 22 September 2014 - 4:00 AM GMT

EUR/USD

Risk reward: 1.62

Trend: Strong Up

Buy at 1.2854 SL 1.2822 TP 1.2925

USD/JPY

Risk reward: 0.91

Trend: Neutral

Sell at 108.93 SL 109.25 TP 108.61

GBP/USD

Risk reward: 2.09

Trend: Strong Up

Buy at 1.6333 SL 1.6301 TP 1.6402

USD/CHF

Risk reward: 1.13

Trend: Down

Sell at 0.9391 SL 0.9423 TP 0.9335

The current support/resistance levels are:

EUR/USD 1.3474, 1.3454, 1.3422 - 1.3596, 1.3616, 1.3648

USD/JPY 100.79, 100.68, 100.50 - 101.69, 101.80, 101.98

GBP/USD 1.7018, 1.6992, 1.6951 - 1.7168, 1.7194, 1.7235

USD/CHF 0.8925, 0.8911, 0.8889 - 0.8969, 0.8983, 0.9005

Friday, 19 September 2014 - 4:00 AM GMT

EUR/USD

Risk reward: 1.87

Trend: Down

Sell at 1.2929 SL 1.2961 TP 1.2869

USD/JPY

Risk reward: 1.38

Trend: Up

Buy at 109.02 SL 108.70 TP 109.46

GBP/USD

Risk reward: 2.16

Trend: Strong Down

Sell at 1.6520 SL 1.6557 TP 1.6370

USD/CHF

Risk reward: 1.69

Trend: Up

Buy at 0.9333 SL 0.9301 TP 0.9387

The current support/resistance levels are:

EUR/USD 1.2863, 1.2840, 1.2803 - 1.2995, 1.3018, 1.3055

USD/JPY 108.48, 108.31, 108.04 - 109.56, 109.73, 110.00

GBP/USD 1.6448, 1.6422, 1.6379 - 1.6602, 1.6628, 1.6671

USD/CHF 0.9268, 0.9247, 0.9214 - 0.9398, 0.9419, 0.9452

Thursday, 18 September 2014 - 4:00 AM GMT

EUR/USD

Risk reward: 1.62

Trend: Up

Buy at 1.2853 SL 1.2821 TP 1.2914

USD/JPY

Risk reward: 0.91

Trend: Down

Sell at 108.88 SL 109.20 TP 108.41

GBP/USD

Risk reward: 2.09

Trend: Strong Up

Buy at 1.6256 SL 1.6224 TP 1.6322

USD/CHF

Risk reward: 1.13

Trend: Down

Sell at 0.9421 SL 0.9453 TP 0.9368

The current support/resistance levels are:

EUR/USD 1.3474, 1.3454, 1.3422 - 1.3596, 1.3616, 1.3648

USD/JPY 100.79, 100.68, 100.50 - 101.69, 101.80, 101.98

GBP/USD 1.7018, 1.6992, 1.6951 - 1.7168, 1.7194, 1.7235

USD/CHF 0.8925, 0.8911, 0.8889 - 0.8969, 0.8983, 0.9005

Wed Sep 17

BUY STOP GBP/USD Entry=1.6269 TP=1.6319 SL=1.6249 

Trading Time Start 5.00 GMT - End 18.00 GMT

Tuesday, 16 September 2014 - 4:00 AM GMT

EUR/USD

Risk reward: 2.06

Trend: Strong Down

Sell at 1.2946 SL 1.2978 TP 1.2880

USD/JPY

Risk reward: 1.19

Trend: Up

Buy at 107.08 SL 106.76 TP 107.46

GBP/USD

Risk reward: 1.97

Trend: Down

Sell at 1.6234 SL 1.6266 TP 1.6171

USD/CHF

Risk reward: 1.72

Trend: Up

Buy at 0.9343 SL 0.9311 TP 0.9398

The current support/resistance levels are:

EUR/USD 1.2876, 1.2851, 1.2810 - 1.3016, 1.3041, 1.3082

USD/JPY 106.58, 106.43, 106.20 - 107.58, 107.73, 107.96

GBP/USD 1.6161, 1.6137, 1.6098 - 1.6307, 1.6331, 1.6370

USD/CHF 0.9277, 0.9256, 0.9222 - 0.9409, 0.9430, 0.9464

Monday, 15 September 2014 - 4:00 AM GMT

EUR/USD

Risk reward: 1.62

Trend: Down

Sell at 1.2965 SL 1.2997 TP 1.2913

USD/JPY

Risk reward: 1.00

Trend: Neutral

Buy at 107.14 SL 106.82 TP 107.46

GBP/USD

Risk reward: 1.78

Trend: Down

Sell at 1.6248 SL 1.6280 TP 1.6191

USD/CHF

Risk reward: 1.41

Trend: Up

Buy at 0.9332 SL 0.9300 TP 0.9377

The current support/resistance levels are:

EUR/USD 1.2904, 1.2884, 1.2852 - 1.3026, 1.3046, 1.3078

USD/JPY 106.67, 106.55, 106.35 - 107.61, 107.73, 107.93

GBP/USD 1.6179, 1.6157, 1.6122 - 1.6317, 1.6339, 1.6374

USD/CHF 0.9272, 0.9255, 0.9227 - 0.9392, 0.9409, 0.9437

Friday, 12 September 2014 - 4:00 AM GMT

EUR/USD

Risk reward: 1.69

Trend: Up

Buy at 1.2914 SL 1.2882 TP 1.2968

USD/JPY

Risk reward: 1.59

Trend: Up

Buy at 107.09 SL 106.77 TP 107.60

GBP/USD

Risk reward: 2.12

Trend: Strong Up

Buy at 1.6216 SL 1.6184 TP 1.6284

USD/CHF

Risk reward: 1.38

Trend: Down

Sell at 0.9365 SL 0.9397 TP 0.9321

The current support/resistance levels are:

EUR/USD 1.2852, 1.2831, 1.2798 - 1.2976, 1.2997, 1.3030

USD/JPY 106.50, 106.31, 105.99 - 107.68, 107.87, 108.19

GBP/USD 1.6140, 1.6114, 1.6072 - 1.6292, 1.6318, 1.6360

USD/CHF 0.9306, 0.9289, 0.9262 - 0.9360, 0.9377, 0.9404