USD/CAD technical analysis for July 30, 2013

Overview: 
The resistance of USD/CAD sets at the level of 1.0425, therefore the bears are going to sell below 1.0425 because there is a double top on the price 1.0430. So it should also be noted that the resistance sets at the level of 1.0425, thus swing trade at 1.0425 in order to sell with the target of 1.0353, it might resume to 1.0250. Additionally, the trend will call for a bearish market on the level of 1.0500, there is a bearish channel. It might be informing that the stop loss should never exceed your maximum exposure amounts. Hence, set a stop loss above 1.0560. However, the USD/CAD pair has still been trapped between 1.0504 (78% of Fibonacci retracement levels) and 1.0370 (50% of Fibonacci retracement levels). At the same time, the support sets at the level of 1.0250, then the bulls are going to buy above 1.0250 with the first target of 1.0365, it might resume to 1.0430. 
It should be noted that Range: 55 pips, then a risk of 46 pips must make a profit of 82.5. 
Volatility: 150.85, therefore the market indicates the higher volatility. (Volatility Formulas Variation = Average * (Higher - Lower)).
In the long term if the market calls for bearish then the price will form double bottom at the level of 1.0135.

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EUR/USD technical analysis for August 1, 2013

Overview: 
The EUR/USD's resistance was broken and it turned to support since yesterday, thus the pair has already formed a strong support at 1.3180 (this level will be formed at the weekly support 1) and a minor support will be set at the level of 1.3240. Moreover, it could not close below 1.3179 (23.6% Fibonacci retracements levels) and started indicating a bullish market, as well as the price placed above 23.6% Fibonacci for five days. Additionally, it should also be noted that the price has still been trapped between 61.8% Fibonacci retracement levels and 100%. Equally important, the RSI and the moving average (50) are still calling for uptrend. Therefore, the market indicates a bullish opportunity at level of 1.3179 at H1 or daily charts with the first target of 1.3240, and continues towards 1.3340. On the other hand, if the price closes below the minor support then the best location for placing a stop loss should be below 1.3130, thus the price will fall for a bearish market in order to go further towards the strong support at 1.3130 to test it again. Furthermore, it should be noted that the level of 1.3136 is going to form a double bottom. However, the resistance for August 1, 2013 will be set at the level of 1.3340. Therefore, it will be wise to sell at this level with the first target at the weekly pivot point 1.3237, and it will continue towards 1.3179.

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Silver: Immediate resistance seen at 12.50 level

Technical outlook and chart setups:
Silver remains locked in a trading range for now. Support region is around 19.00/20, while resistance is around 12.30/50. As depicted here, the metal broke the rising counter trend line last week and is testing the backside, which is resistance now. It is recommended to initiate fresh short positions on a bearish signal appearance here. Immediate resistance is around the 20.50 mark, followed by 21.80/22.00 region; while support is now at 18.70/80 region. Looking lower on a turn around at the backside of trend line test.

Trading recommendations:
Flat for now. Looking to initiate short positions again.

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GBP/CHF slide poised to accelerate. Remain short

Technical outlook and chart setups:
he currency pair tested the rising support line and fell back yesterday, as depicted in the Daily chart. Implications are bearish for GBP/CHF from here. Hence the recommendation is not changed - to maintain short positions for now. Immediate resistance would be at 1.4300 level, which was a high two days ago, followed by 1.44. Strong resistance is placed at 1.48 and 1.5. Looking into the wave structure, the next swing lows could be below 1.4 level in the coming days/weeks. Looking lower for now.

Trading recommendations:
Remain short, stop at 1.44, target is open

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Silver tests backside of resistance line. Initiate short positions against 21.00 now

Technical outlook and chart setups:
The metal has breached through the resistance line now, around 20.25/30 levels. Hence, it is recommended to initiate short positions against 21.00. Immediate resistance is at 20.70/75, followed by 22.50/23.00; while support is around 18.70, followed by 18.25 levels. The wave structure indicates that a dip down ward movement towards 18.70/50 levels is possible before next leg higher up. The entire structure may be turning as a 3 wave pullback for now. Looking lower at least for the short-term prospect.

Trading recommendations:
Remain short, set stop at 21.00, target is at 18.50.

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EUR/USD - Sell below 1.3387 - for August 13, 2013 (daily strategy)

Yesterday, the Euro in the Week opening left a gap that was covered at the beginning of the day, after it had a significant correction to the levels of the 15-day moving average, now we see that this bouncing, hope this stops at 1.3360 area, given that today's European session will be unveiled German ZEW Economic Sentiment, the analyst expected at 40.3, to be more optimistic compared to the previous month of 36.3, therefore we believe that this data can drive the euro but only few make a pullback, since it is located in area of high pressure bearish according the indicator of MACD and Momentum. Therefore, we recommend the next signal on the chart below.

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Silver inching towards 22.50 Resistance

Technical outlook and chart setups:
The metal has staged an impressive rally towards 22.20/30 levels till now. The 20.50 region should be past resistance turned support for the time being. A final push higher towards 22.50 would be required to confirm a major bullish reversal though. Resistance is at 22.50/23.00 levels, while support is at 19.20 and lower for now. Hence it is recommended to exit short positions, and watch out for the price reaction at 22.50 levels, before concluding a possible trade setup. The overall trend still remains bearish for now and a failure at 22.50 would warn a bearish reversal.

Trading recommendations:
Flat for now.

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EUR/JPY technical analysis for August 22, 2013

Since yesterday, the 131.00 level has already acted as strong resistance, although all the three moving average still make the "Golden Cross" pattern, this means the upside trend still continue in this pair, as long this currency not going down and breach bellow the EMA 100 (green) the uptrend situation still in a healthy condition. 

RECOMMENDATION:
BUY Stop (Pending Order) at 131.26.
Take Profit at 131.30.
Stop Loss at 131.16.

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EUR/JPY technical analysis for August 26, 2013

For today; we can look at this currency, the barrier at the 132.25. Since yesterday this level has already held this pair to continued the uptrend; the 132.25 acts as strong resistance, all the three Moving Averages has already formed the "Golden Cross" pattern that means the EUR/JPY still have a good and healthy uptrend situation.

RECOMMENDATION:
BUY Stop (Pending Order) at 132.51.
Take Profit at 132.65.
Stop Loss at 132.41.
Alternative:
SELL Stop (Pending Order) at 131.99.
Take Profit at 131.85.
Stop Loss at 132.09.

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EUR/JPY technical analysis for August 28, 2013

Yesterday, after the EUR/JPY pair had breached bellow 131.25, the uptrend changed to downtrend. This condition has been already confirmed by all the three moving averages form the "Death Cross" pattern. It means, the downside momentum is stronger then the upside movement. However, if EUR/JPY breaches above 130.50 today, then the downside movement will be hold, at least, till the end of the day.

RECOMMENDATION:
SELL Stop (Pending Order) at 129.74
Take Profit at 129.60.
Stop Loss at 129.84.

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EUR/JPY technical analysis for August 30, 2013

Since yesterday the level of 130.00 has acted as strong support for the EUR/JPY pair. Even the market is still affected with bearish pressure, which has been already indicated by all the three moving averages, the pair is still making a "Death Cross pattern". After this level a strong barrier at the 130.00 level can hold the movement and make this pair entering to the ranging condition between the 130.00 level to the 130.50 level.

RECOMMENDATION:
SELL Stop (Pending Order) at 129.74.
Take Profit at 129.60
Stop Loss at 129.84.
Alternative:
BUY Stop (Pending Order) at 130.51.
Take Profit at 130.65.
Stop Loss at 130.41.

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EUR/JPY technical analysis for September 04, 2013

Today, the EUR/JPY price is moving in the ranging condition but between the 103.75 to the 131.50 level but in a Bullish sentiment, We can look at all the three moving averages still making a "Golden Cross" pattern, but please pay attention to the 130.50 level, if this level can be breach by this pair, the bullish sentiment will be hold, at least, for today.

RECOMMENDATION:
BUY Stop (Pending Order) at 131.51.
Take Profit at 131.65.
Stop Loss at 131.41.
Alternative:
SELL Stop (Pending Order) at 130.49.
Take Profit at 130.35.
Stop Loss at 130.59.

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