Tag: forex analysis

Daily analysis of GBP/USD for May 22, 2014

Daily chart: The GBP/USD has made a successful breakout at the level of 1.6851, so far, the next target for this pair will be the resistance level of 1.7000 in the medium term. However, it is expected that the GBP/USD will start to form a bullish patte…

Technical analysis of Silver for May 22, 2014

Technical outlook and chart setups:

1. Silver remains locked in consolidation at the moment around sub $19.00 levels as seen here, as the lower boundary of the range. The metal needs to push above $20.00 levels and subsequently break $20.40 levels to confirm further bullish possibilities.

2. Support is at $19.00 levels, followed by $18.75/90, $18.50/60 and lower, while resistance is seen at $20.40, followed by $21.70, $22.30 and higher up respectively.

3. The structure indicates that Silver should attempt to move towards $20.00 levels again and a push higher should be extremely bullish. 

Trading recommendations:

Remain long, stop at $19.00, target is open or Remain flat.

Good luck!

The material has been provided by InstaForex Company – www.instaforex.com

Technical analysis of EUR/JPY for May 22, 2014

Technical outlook and chart setups:

1. The EUR/JPY pair is seen to be bouncing off the trend line support as expected and seen here, from around the 139.00 levels. The pair is producing a bullish morning star candlestick signal as well. Recommendations are to remain long, risk remains below 138.00 levels.

2. Support is seen at 138.00, followed by 136.00, 134.00 and lower, while resistance remains at 141.00, followed by 142.50, 143.50/144.00 and 145.50 respectively.

3. The structure indicates that EUR/JPY could resume rally from current levels towards 142.50 levels before any meaningful correction.

Trading recommendations:

Remain long, stop below 138.00, target is open.

Good luck! 

The material has been provided by InstaForex Company – www.instaforex.com

Technical analysis of GBP/CHF for May 22, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair seems to be stalling just a few pips ahead of resistance at 1.5120/30 as seen here. The pair might have managed to resume the uptrend but a retracement towards 1.4700 levels is due any moment. Re…

Technical analysis of EUR/USD for May 22, 2014

When the European market opens, some economic news will be released such as French Flash Manufacturing PMI, French Flash Services PMI, German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI, Spanish 10-y …

Technical analysis of USD/JPY for May 22, 2014

In Asia, Japan will release the Flash Manufacturing PMI, BOJ Monthly Report, and the US will release some economic data such as Unemployment Claims, Flash Manufacturing PMI, Existing Home Sale, CB Leading Index m/m, Natural Gas Storage. So there is a b…