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Technical analysis of EUR/USD for December 02, 2014
https://forex-images.instaforex.com/...02/!EURUSD.jpg
When the European market opens, some economic news will be released such as Spanish Unemployment Change and PPI m/m. Besides, the US will release the economic data too such as the Construction Spending m/m and Total Vehicle Sales. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2526.
Strong Resistance:1.2528.
Original Resistance: 1.2516.
Inner Sell Area: 1.2504.
Target Inner Area: 1.2474.
Inner Buy Area: 1.2444.
Original Support: 1.2432.
Strong Support: 1.2420.
Breakout SELL Level: 1.2412.
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Daily analysis of major pairs for December 3, 2014
EUR/USD: EUR/USD traded downwards on Tuesday, breaking below the resistance line at 1.2400. The resistance line is now an immediate barrier to any rallies that may be initiated by the bulls. Meanwhile, price may trend further downwards towards the support line at 1.2350.
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Daily analysis of USDX for December 04, 2014
On the daily chart, the USDX is making a breakout at the level of 88.63, so massive buy orders in this instrument could lead the US dollar to reach a historic high levels at 90.40. However, like any sharp movement, the USDX could form another bullish pattern above the support level of 88.63. The MACD indicator is entering the neutral territory. Daily chart's resistance levels: 90.40 / 89.00
Dailychart's support levels: 88.63 / 87.35
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Technical analysis of USD/CAD for December 5, 2014
Overview:
The trading recommendations today will give its impact in the short term. Also, we should remember that history will probably repeat itself at this level again. Thus, according to the previous events, the USD/CAD pair is going to move between 1.1313 and 1.1454. In particular, the double bottom has set at the price of 1.1314 and the support is represented at the same level on H4 chart. Consequently, the trend may fail to close below the strong support at 1.1313. So, buy below the level of 1.1313 with the first target at 1.1418, then it will be continued towards 1.1554 in order to test this strong support. The stop-loss is to be placed below the level of 1.1313. On the other hand, the strong resistance will be formed at the level of 1.1465 (100% Fibonacci retracement levels) providing a clear signal for sell deals with the targets seen at 1.1420 and 1.1393.
Intraday technical levels:
Date:5/12/2014 Pair:USD/CAD
R3: 1.1463
R2: 1.1430
R1: 1.1406
PP: 1.1373
S1: 1.1349
S2: 1.1316
S3: 1.1292
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Daily analysis of major pairs for December 9, 2014
https://forex-images.instaforex.com/...18083129_1.png
EUR/USD: After testing the support line at 1.2250, EUR/USD price bounced upwards, and the upwards bounce can continue a bit further upwards. For the upwards bounce to be strong enough to threaten the existing bearish bias, it must go above the resistance line at 1.2500; otherwise this may be another opportunity to sell short.
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Technical analysis of EUR/USD for December 10, 2014
https://forex-images.instaforex.com/...10/!EURUSD.jpg
When the European market opens, some economic news will be released such as French Final Non-Farm Payrolls q/q and French Industrial Production m/m. The US will release the economic data too such as the Crude Oil Inventories, 10-y Bond Auction, Federal Budget Balance. So, amid the reports, EUR/USD will move low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2446.
Strong Resistance:1.2439.
Original Resistance: 1.2427.
Inner Sell Area: 1.2415.
Target Inner Area: 1.2386.
Inner Buy Area: 1.2358.
Original Support: 1.2345.
Strong Support: 1.2334.
Breakout SELL Level: 1.2327.
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Daily analysis of GBP/USD for December 11, 2014
The GBP/USD pair is conducting a breakout at the level of 1.5698, because this pair intends to go up to where the 200-day moving average is located on the H4 chart. This move is probably since the GBP/USD pair managed to consolidate above the bearish trend line that was putting pressure on the level of 1.5650. However, for the rest of the week, movements in a low range are expected.
H4chart's resistance levels: 1.5811 / 1.5874
H4chart's support levels: 1.5698 / 1.5589
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Elliott wave analysis of EUR/JPY for December 15 - 2014
https://forex-images.instaforex.com/...-EURUSD-8H.png
Technical summary:
Wave c of the correction from 149.13 is developing. Till now, we have seen wave a and b and wave c is currently unfolding. Red wave i ended at 147.69 and red wave ii is unfolding towards the 148.50 - 148.89 area from where the more powerful red wave iii lower to 145.88 is expected. The first target for this correction is found at 144.78. That said, wave c could easily extend lower to 142.05, but for now let's see what will happen as we approach 144.78.
Trading recommendation:
We are short in EUR from 147.97 and will move our stop to break-even and re-sell EUR at 148.50 with stop placed at 149.20 if/when our stop is hit.
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Daily analysis of major pairs for December 16, 2014[
EUR/USD: This currency trading instrument is still bullish as bulls keep on flexing their muscles. The price is above the support line at 1.2400, going towards the resistance line at 1.2450 (which might be breached to the upside again). That resistance line has taken several beatings already. The ultimate target is at the resistance line at 1.2500.
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Technical analysis of Gold for December 17, 2014
Technical outlook and chart setups:
Gold is trading at sub $1,200.00 levels after making highs at $1,222.00/23.00 yesterday. The yellow metal remained just shy of the $1,270.00/80.00 mark, which is defined as the best buy for now. Immediate support is seen at $1,170.00, followed by $1,142.00, $1,130.00 and lower while resistance is seen at $1,255.00 and higher respectively. It is recommended to initiate long positions around $1,170.00/80.00 levels, risk remains below $1,140.00. Bulls are expected to remain in control till prices stay above $1,140.00. A break there could be extremely bearish and push prices lower into the $1,030.00/50.00 region.
Trading recommendations:
Remain flat for now, look to buy around $1,170.00/80.00 levels.
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Technical analysis of USD/JPY for December 18, 2014
No economic data is expected in Japan today. As for the US, it will release some economic data such as Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, Flash Services PMI, and Unemployment Claims. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.
TODAY TECHNICAL LEVELS:
Resistance. 3: 119.28.
Resistance. 2: 119.05.
Resistance. 1: 118.82.
Support. 1: 118.54.
Support. 2: 118.31.
Support. 3: 118.07.
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USDX Technical analysis for December 19, 2014
The Dollar index is making a short-term pullback as expected by our previous post. However, a trend remains bullish in all time frames. The longer-term target since early October is the 91 level as this is the bullish flag break out target.
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USDX Technical analysis for December 22, 2014
https://forex-images.instaforex.com/...41221/usdx.jpg
The Dollar index as expected after the strong reversal, is now making new highs getting closer to our target of 91 given some time ago by my bullish flag analysis. Bulls remain in control after the sharp upward reversal we saw last week. Bulls should continue to support this upward move as it seems that it has only just started.
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Gold Technical analysis for December 23, 2014
Gold price has broken the neckline and has given a short-term sell signal. The target for the Head and Shoulders pattern I mentioned yesterday is the recent lows at $1,140-30. I'm bearish for Gold. Gold is at a short-term downtrend and in danger of starting a new downward move that could bring the price near $1,050.
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Daily analysis of major pairs for January 5, 2015
https://forex-images.instaforex.com/...20150105/1.png
EUR/USD: The EUR/USD trended downwards on Friday, closing below the resistance line at 1.2050. The support line at 1.2000 is being tested and with further exertion of selling pressure, it may be breached to the downside. After this, the price may then go for another support line at 1.1950.
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Daily analysis of major pairs for January 7, 2015
EUR/USD: The bias here is bullish and the price may go further downwards, reaching the support line at 1.1850. There is a recalcitrant resistance line at 1.2000, which could be a great hurdle to the bulls interests.
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Technical analysis of gold for January 08, 2015
Technical outlook and chart setups:
Gold seems to be preparing to correct deeper into $1,200.00 and subsequently $1,185.00 levels for now. It is therefore recommended to book partial or full profits on long positions taken earlier and wait for correction to finish before entering again. Immediate support is seen at $1,200.00 followed by $1,189.00, $1,170.00 and lower, while resistance is seen at $1,238.00/40, $1,250.00 and higher respectively. Bulls are poised to remain in control as long as prices stay above $1,170.00 levels, but a break below the trend line would delay matters further.
Trading recommendations:
Book profits on long positions taken earlier, remain flat for now.
More analysis - at nstaforex.com
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Technical analysis of gold for January 09, 2015
Technical outlook and chart setups:
A daily chart view has been depicted here again for a larger view of wave structures. Gold had bounced off the support from $1,170.00 levels and reached $1,220.00/23.00 levels before pulling back. At the moment, the metal can be seen testing a dropping resistance trendline. A bullish bounce from current levels could possibly push the metal higher into $1,235.00 and higher levels. Another possibility still remains for a drop into $1,190.00 levels before rallying further. It is recommended to remain flat for 1-2 days and watch out for a reaction at the trendline. Immediate support is at $1,200.00 levels followed by $1,190.00 and lower while resistance is seen at $1,235.00 levels, followed by $1,255.00 and higher respectively.
Trading recommendations:
Remain flat for now. Look to buy lower.
More analysis - at instaforex.com
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Weekly technical levels for GBP/USD for January 12-16, 2015
Forecast:
According to the previous events, the price of GBP/USD pair has still been trapped between 1.5068 and 1.5255. The level of 1.5306 represents strong resistance. Also, it should be noted that the price of 1.5318 coincides with the ratio of 100% Fibonacci retracement levels. The minor support has set at the level of 1.5102. Hence, we expect a range about 58 pips on January 12. Therefore, the market is going to call for a downtrend from the level of 1.5285. Thus, sell below the level of 1.5285 in the short term with the first target of 1.5143, it might resume to 1.5053 if the trend will be able to break the weekly pivot point at the level of 1.5171. It should be noted that the weekly support 1 will set at 1.5023.
Notes:
According to our statistics, it was found out that the range was between 240 pips and 285 pips and the average range was around 266 pips. Major support will set at 1.5023 on January 12, 2015. The level of 1.5170 represents the weekly pivot point. Major resistance has already set at the price of 1.5306. It should be noted that the weekly range was not very large for the last four weeks.
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Technical analysis of NZD/USD for January 13, 2015
Forecast:
According to the previous events, the NZD/USD pair has still been moving between 0.7835 and 0.7745. Strong resistance will be formed at the level of 0.7864 (the double top on H1 chart) providing a clear signal for sell deals with the targets seen at 0.7791 and 0.7740. Stop-loss is to be placed above 0.87893. The strong level (support) will be formed at the mark of 0.7741 providing a clear signal for buy deals with the target seen at the 0.7835 level. Stop-loss is to be placed below 0.7719.
Notes:
The level of 0.7780 is representing the daily pivot point. The double top will be set at the level of 0.7864. We expect a range of 62 pips today. But it should be noted that the risk of 42 pips must make a profit of 63 pips. Volatility: 162.451. Therefore, the market indicates the higher volatility. The value of 50% Fibonacci retracement levels is 0.7741 (for confirming for the bullish market).
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Daily analysis of major pairs for January 14, 2015
EUR/USD: This currency trading instrument still has the potential to continue trading further down in the context of the existing bearish trend. When the support line at 1.1750 is breached to the downside, it would ensure more southerly trip towards another support line at 1.1700.
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Daily analysis of USDX for January 20, 2015
The USDX is still following the bullish bias in the long term, because this instrument was forming a higher high pattern above the support level of 91.88 and during the last days, the bullish momentum has unleashed the buy orders at the USDX, giving it a good road to perform a consolidation above the resistance level of 93.02 in the near term. The MACD indicator is trying to enter the negative territory.
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Daily analysis of major pairs for January 21, 2015[
EUR/USD: This is a weak market and the recent bullish attempt in it was being thwarted by bearish effort. The price is currently below the resistance line at 1.1550 and it may reach the support line at 1.1500.
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Technical analysis of EUR/JPY for January 26, 2015
Technical outlook and chart setups: The EUR/JPY pair has dropped by 5 waves down from 149.80 to sub 131.00 levels, depicted with arrows here. It looks like the pair is preparing for a counter trend rally that could extend towards 142.30 levels. Immediate support is seen at sub 130.00 levels, while resistance is seen at 133.00 respectively. A break above 133.00 would confirm that the rally has resumed and it would be recommended to initiate long positions on dips there after. As discussed earlier, the bigger picture indicates that EUR/JPY might be heading into a deeper correction lower towards 115.00/116.00 levels. For now, a 3-wave counter trend rally seems more probable.
Trading recommendations: Could buy on dips after 133.00 breaks.
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Daily analysis of major pairs for January 27, 2015
EUR/USD: After testing the support line at 1.1100, the EUR/USD pair bounced upwards by over 190 pips. The upward bounce pales into insignificance when compared to the overall bearish bias, which is now very strong. In other words, the current upward bounce is better seen as a clean opportunity to sell short as the price rallies in the context of a downtrend.
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Daily analysis of GBP/USD for January 28, 2015
The GBP/USD pair had another bullish session during yesterday, as this pair is trading close to the resistance level of 1.5247. Remember that a breakout on that zone could activate buy orders on this pair to the nearest resistance level of 1.5491. Anyway, from a general view, the GBP/USD pair is still forming a bearish pattern and that bias is still valid.
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Daily analysis of major pairs for January 29, 2015
EUR/USD: The situation on this pair is nearly similar to that of EUR/JPY. From the beginning of this week, the market moved upward by roughly 300 pips, reaching the resistance line at 1.1400. From that line, the market has begun another phase of bearish movement in conjunction with the overall bias which is bearish.
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Technical analysis and trading recommendation on USD/JPY for January 30, 2015
The strong US dollar took the pair towards 20Dsma. The US unemployment claims plunged, which gave a strong support to the greenback. In the week ending January 24, the flash figure for seasonally adjusted initial claims was 265,000, a decrease of 43,000 from the previous week's revised level. This is the lowest level for initial claims since April 15, 2000. But the Pending home sales data was disappointing, it declined 3.7%. On the other hand, Japan's retail sales unexpectedly fell in December. Sales declined 0.3% percent from November for a third month in a row. Today, the focus has shifted to US preliminary GDP. The pair has been still consolidating in the same tight range between 118.85 and 117.10 as we discussed in our earlier reports. The prices are trading within a triangle on the h4 chart. In case if the prices managed to give an upside breakout, it can challenge towards 120.50. In yesterday's session the pair managed to close above 34hrsma levels. The prices are facing strong resistance at the 80.0 fib level on the h4-chart. For about 3 hours, the prices have been taking support from the previous swing high at 118.24. We recommend buying at the current price of 118.27 with the targets at 118.50, 118.65, and 118.80. On a positional basis, until the pair holds at 117.00 and trades above 118.85, it can give another stellar show towards 120.00+. In case if the pair breaks below 117.00, it can extend its fall to 115.00 and panic will spark below 115.00. The intraday support levels exists at 118.15 and 117.85. We recommend selling only below 117.85, until bulls have an upper hand.
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Daily analysis of GBP/USD for February 02, 2015
The GBP/USD pair continues to get more bearish pressure every day. Currently, it's trying to perform a breakout at the support level of 1.5025. This zone has been tested several times, but the pair is still very bearish. However, this outlook could change in the near future, if the GBP/USD pair makes a breakout above the resistance level of 1.5247, where this pair could rise until the resistance level of 1.5491.
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Daily analysis of GBP/USD for February 03, 2015
On the daily chart, we can see the domination of the bearish bias on the GBP/USD pair. The pressure remains, as the pair is trying to consolidate below the support level of 1.5025. That breakout could take place during this week, when GBP/USD price action shows us that a lower low pattern is fully finished. The MACD indicator remains in the positive territory.
During the last session, the GBP/USD pair made a breakout in the 1.5039 zone, where the pair could start to form a solid bearish pattern to continue looking for more lows in the short-term bias. Anyway, our targets on the downside remains placed at the support level of 1.4994 and 1.4957, and this could be possible because the 200 SMA is bearish.
Daily chart's resistance levels: 1.5247 / 1.5491
Dailychart's support levels: 1.5025 / 1.4853
H1 chart's resistance levels: 1.5039 / 1.5084
H1 chart's support levels: 1.4994 / 1.4957
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4994, take profit is at 1.4957, and stop loss is at 1.532.
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Technical analysis of Gold for February 04, 2015
Technical outlook and chart setups: Gold drops to test intermediary lows at $1,250.00 levels as seen here. The metal still remains in control of bulls till prices remain above $1,250.00. It is recommended to remain long and also look to add further positions at current levels. A bullish bounce is expected from current levels, which could push the yellow metal through fresh swing highs and subsequently towards $1,340.00. Please note that the yellow metal had bounced off the fibonacci 0.382 support at $1,250.00 levels earlier and the current drop is still considered as a test. Bulls are poised to rally.
Trading recommendations: Remain long, stop at $1,245.00, the target is $1,340.00.
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Daily analysis of major pairs for February 5, 2015
EUR/USD: This pair tested the resistance line at 1.1500, broke through it and later failed to close above it. The dip that occurred as a result is serious enough to be a danger to the current bullish possibility. A movement below the support line at 1.1250 would mean the end of the bullish possibility and the reversal of the recent bearish trend.
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#USDX Technical analysis for February 6, 2015
The Dollar index confirms the fact that the Dollar is currently weak and more weakness is around the corner. The Dollar index has managed to move lower after being rejected by the short-term resistance. The black line is the resistance trend line and price has gotten rejected every time. Price is below the Ichimoku cloud. Therefore, we should expect more downside pressures to arise and push the index lower for a bigger than normal correction.After a long time, the weekly chart is showing signs of reversal and some increased bearishness. The Dollar index has weekly support at 91.65 by the tenkan-sen (red) trend line. The longer-term trend remains bullish and a pullback towards 92-91.50 could be a great buying opportunity.
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Daily analysis of GBP/USD for February 11, 2015
The corrective moves on the GBP/USD pair are still on the way, as the pair is trying to perform a bullish consolidation above the level of 1.5247. Now, we're watching a higher high pattern formation of the GBP/USD pair on the daily chart. We expect a rise until the resistance level of 1.5491, when the pair finishes developing that pattern. The range established between the levels of 1.5249 and 1.5210 continues to be respected by the GBP/USD pair on the H1 chart, because the pair found strong support in the zone of 1.5210. However, later the pair was rejected from the level of 1.5249. By the way, it seems that bulls could take the ride on the GBP/USD pair in an intraday outlook. The MACD indicator is still on the positive territory.
Daily chart's resistance levels: 1.5247 / 1.5491
Dailychart's support levels: 1.5025 / 1.4841
H1 chart's resistance levels: 1.5249 / 1.5302
H1 chart's support levels: 1.5210 / 1.5166
Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5249, take profit is at 1.5302, and stop loss is at 1.5196.
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Technical analysis of Silver for February 12, 2015
Technical outlook and chart setups:
Silver has remained unchanged while Gold hit lows yesterday, as seen here. The metal is holding fibonacci 0.618 support level very well at $16.50. It is expected to resume rally any time now, towards $18.90 and $21.00 at the sessions to come. It is recommended to remain long for now and consider adding further positions at the current levels. Bulls are very much poised to extend rally through higher levels till $16.50 and $15.50 remains intact. Immediate support is seen at $16.50 levels (interim), followed by $16.20, $15.50 and lower while resistance is seen at $17.40/50 (interim), followed by $18.40.50, $18.90 and higher respectively.
Trading recommendations:
Remain long, stop at $16.00, the target is open.
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Technical analysis of GBP/USD for February 13, 2015
Overview: According to the previous events, the price of GBP/USD called for a strong bullish market from the price of 1.5200 yesterday (February 12, 2015). Therefore, the market will continue to move between the levels of 1.5366 and 1.5405 today. So, it would be wise to excercise caution in this range around the level of 50% Fibonacci retracement because the ratio of 50% coincides with the price of 1.5368. So, the first step is to wait for a period of tight sideway range market before breakouts. Then, the possible scenario is that the market is going to start showing signs of the bullish market again. In other words, it will be a good sign to buy above the level of 1.5360 with a first target of 1.5433 which climbs towards the first resistance around the area of 1.5467 (61.8% of Fibonacci retracement levels on H4 chart). However, if the the pair cannot break this resistance, hence the market will indicate a bearish opportunity below 1.5470. Then, the level is going to act really as strong resistance. Accordingly, it will be a good idea to sell below 1.5470 with a first target of 1.5402 and it is going to call for a downtrend in order to continue the bearish market towards 1.5332 on February 13, 2015.
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Daily analysis of GBP/USD for February 17, 2015
The Monday session was supposed to be a slow one for the GBP/USD pair, but in fact the bearish bias took the control again of this pair for a while. However, currently, our targets still remain on the upside at the resistance level of 1.5491. The current moves could deliver a bullish pattern on the daily chart. The MACD indicator is still on the positive territory.
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Technical analysis of USD/JPY for February 18, 2015
In Asia, Japan will release the BOJ Press Conference and Monetary
Policy Statement. The US will also release some economic reports such
as Industrial Production m/m, Capacity Utilization Rate, Housing
Starts, Core PPI m/m, PPI m/m, and Building Permits. 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: 119.90.
Resistance. 2: 119.67.
Resistance. 1: 119.44.
Support. 1: 119.15.
Support. 2: 118.92.
Support. 3: 118.68.
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Technical analysis of NZD/USD for February 20, 2015
Overview: The NZD/USD pair will probably continue straight from the level of 0.7478 (at 61.8% of Fibonacci retracement levels on H1 chart). Besides, it should be noted that the double bottom will be formed at the same level of 0.7478. Therefore, the NZD/USD pair is showing signs of strenght following the break of the first resistance level of 0.7500. So it will be a good idea to buy above the level of 0.7470 or/and 0.7500 with the first target of 0.7548 and further towards the last peak point 0.7577 (it will act as a strong resistance, so that it is going to be a good place to take profit, it should be also noted that this level of taking profit will coincide with 100% of Fibonacci). However, in case reversal takes place and the NZD/USD pair breaks through the support level of 0.7478, the market will lead to further decline to 0.7443 and then 0.7414 in order to indicate for the bearish market on February 20, 2015.
Trading recommendations: According to previous events, the price will move between 0.7577 and 0.7415. Buy above 0.7480 with the first target of 0.7546, it might resume to 0.7570. Below the level of 0.7463 look for further downside with the 0.7443 and 0.7414 targets.
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GBP/JPY Elliott wave count and Fibonacci levels for April 25, 2012
EUR/USD: This currency trading instrument moved largely sideways last week as bulls and bears struggled in vain for significant supremacy, being swayed by transitory buying and selling pressure. There is a support line at 1.1300 and a resistance line at 1.1450; and the price would break either to the downside or the upside. Nevertheless, a break above the resistance line at 1.1450 is more likely this week.
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