Technical analysis of EUR/JPY for October 27, 2014 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY dropped into 135.20/30 levels last week before bouncing off, as it was discussed and expected. Please note that the pair bounced off from confluence of fibonacci 0.618 support, the back side of the trend line (resistance turned support) and a right shoulder of potential inverted head and shoulder reversal. Minimum expectations on the higher side are 138.00, followed by 138.70/80 levels. Support is seen at 135.20/30, followed by 134.20/30 and lower, while resistance is seen at 138.00, followed by 139.00 and higher up respectively. It is recommended to remain long, risk remains at 135.00 now.

Trading recommendations:

Remain long for now, move stop to 135.00, target is 138.80 at least.

Good luck!

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Technical analysis of GBP/CHF for October 27, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is seen to be facing resistance at 1.5290/1.5300 levels as seen here. The pair could possibly resume its down move from current levels. It is still recommended to remain short, risk remains above 1.5450. Resistance is seen at 1.5450, followed by 1.5550, while support is seen at 1.5225/1.5200, followed by 1.5125, 1.4975 and lower respectively. The bears are expected to re-gin control from current levels and possibly push prices below 1.4975 levels. The structure indicated that GBP/CHF may have completed 2 waves, within the 3 wave correction that begun from sub 1.5550 levels. The 3rd wave could extend itself into the 1.4800 and subsequently 1.4700 levels.

Trading recommendations:

Remain short for now, stop is at 1.5450/60, target is open.

Good luck!

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Technical analysis of Silver for October 27, 2014 Market Analysis Review

Technical outlook and chart setups:

Silver remains locked in a trading range between $17.00 and $17.60 since a few trading sessions as seen here. Support is seen at $17.00 levels, followed by $16.60 while resistance is seen at $17.60/70 followed by $18.00 and higher respectively. It is recommended to remain long for now, risk remains below $16.60. Immediate expected movement is a rally towards at least $17.60 levels if not higher. Only a break above $17.60.70 levels would confirm that the metal is headed towards $18.00, $18.80 and higher levels. On the flip side, a break below $17.00 and subsequently $16.60 would delay matters further and confirm that bears remain in control.

Trading recommendations:

Remain long, stop is at $16.40, target is open.

Good luck!

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Technical analysis of Gold for October 27, 2014 Market Analysis Review

Technical outlook and chart setups:

Gold looks to have completed its first leg of correction at $1,225.00/26.00 last week. The metal is expected to rally to $1,245.00 levels before dropping lower. The area of interest for bottom formation is around $1,208.00/10.00 levels. Please note that $1,208.00 is the fibonacci 0.618 support of the rally between $1,183.00 and $1,255.00 respectively. It is recommended to remain short for now (aggressive trade setup). Risk is above $1,255.00. The metal is correcting towards $1,208.00 for now, and a bullish bounce from there could resume rally towards $1,280.00 and higher. Support is seen at $1,220.00/22.00, followed by $1,205.00, $1,183.00 and lower, while resistance is seen at $1,255.00, followed by $1,275.00/77.00 and higher respectively.

Trading recommendations:

Look to go long again around $1,208.00/10.00.

Good luck!

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Technical analysis of EUR/USD for October 27, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Ifo Business Climate, M3 Money Supply y/y, Private Loans y/y, Private Loans y/y. The US will release the economic data too such as the Flash Services PMI, Pending Home 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: 1.2738.

Strong Resistance:1.2730.

Original Resistance: 1.2718.

Inner Sell Area: 1.2706.

Target Inner Area: 1.2676.

Inner Buy Area: 1.2646.

Original Support: 1.2634.

Strong Support: 1.2622.

Breakout SELL Level: 1.2614.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Technical analysis of USD/JPY for October 27, 2014 Market Analysis Review

In Asia, Japan will release the SPPI y/y and the US will release some economic data such as Flash Services PMI, Pending Home Sales m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 108.53.

Resistance. 2: 108.32.

Resistance. 1: 108.83.

Support. 1: 107.84.

Support. 2: 107.63.

Support. 3: 107.42.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Weekly technical levels of EUR/USD for October 27-31, 2014 Market Analysis Review

The weekly technical levels of EUR/USD pair.

Overview :

• The EUR/USD pair in the long term.


• The pair called for a bearish market from the level of 1.2839 and closed at 1.2669 last week. So, the price of the EUR/USD pair is going to continue the bearish trend from the level of 1.2707. It also should be noted that the pivot point is set at the same price of 1.2707 for October 27-31, 2014. Accordingly, it will be a good sign to sell below 1. 2707 with the first target of 1.2613 to test a minor support at this price. Moreover, the double bottom will set at the 1.2613 level. Also, it will call for downtrend in order to continue its bearish movement towards 1.2575 in order to test the weekly support 1.


• At the same time, the stop loss should be placed above the weekly pivot point at the price of 1.2730. Equally important, the resistance will set at the 1.2727 level (50% of Fibonacci retracement levels). Additionally, it should be noted that the range today will be about 74 pips.

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Weekly technical levels of NZD/USD for October 27-31, 2014 Market Analysis Review

The weekly technical levels of NZD/USD.

Trading recommendations :

• The market will turn to bearish sentiment from the level of 0.7895. Moreover, the weekly pivot point of the NZD/USD pair is set at the level of 0.7895 in the short term. Therefore, it will be a good sign to sell below 0. 7895 with the first target of 0.7825. It will call for downtrend in order to continue its bearish movement towards 0.7800 to form a double bottom in the H1 chart. Notwithstanding, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed above the weekly pivot point at the price of 0.7916 .

Observations:

• According to the previous events, the NZD/USD pair is going to move between 0.7758 and 0.7895 today.


• It should be noted that the level of 0.7800 represents the double bottom and the weekly pivot point is placed at the price of 0.7895.


• The resistance will be set at the level of 0.7960 this week.


• The support has already been placed at the price of 0.7778.


• We expect a new range about 182 pips this week.


• The key level will be set at the level of 0.7903.

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Weekly technical levels of USD/CHF for October 27-31, 2014 Market Analysis Review

Overview :

• The price of USD/CHF pair has still been moving between the price of 0.9491 and the 0.9584 price. A psychological level has set at the 0.9491 price because the weekly pivot point has placed at the same level (0.9491). Moreover, the weekly resistance is set at 0.9584. Therefore, sell deals are recommended below the 0. 9584 level with targets at the level of 0.9491 in order to test the weekly pivot point at this level in H1 chart. Hence, the price of the USD/CHF pair is going to try to break the weekly pivot point at 0.9491 to call for the bearish market below 0.9477. Thus, the price will go further towards the level of 0.9425. The major support has been placed at the price of 0.9425. The stop loss should always be taken into account, so it will be of the wisdom to set your stop loss at the 0.9605 price.

The weekly technical levels of USD/CHF pair.

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Weekly technical levels of GBP/USD for October 27-31, 2014 Market Analysis Review

The weekly technical levels of GBP/USD pair.

Tools of the chart :

• The market was in downtrend. Moreover, the trend was so clear because the price moved higher to 1.6089; but the price of GBP/USD pair has been rebounding lower towards the level of 1.5994.


• The double bottom is set at the price of 1.5994.


• We expect a range of 210 pips this week. The last range was 189 pips.


• The level of 1.6111 is the key level to confirm the bullish market.

Review :

The movement of pivot point among resistances and supports.

• Resistance 3: 1.6372


• Resistance 2: 1.6278


• Resistance 1: 1.6183


• Pivot Point: 1.6089


• Support 1: 1.5994


• Support 2: 1.5900


• Support 3: 1.5805

Notes :

• If the price is at pivot point, watch for a move back to resistance 1 or support 1.


• If the price is at resistance 1, expect a move to resistance 2 or back towards the pivot point.


• If the price is at support 1, expect a move to support 2 or back towards resistance 1.


• If the price is at support 2, expect a move to support 3 or back towards support 1.


• If the price is at resistance 2, expect a move to resistance 3 or back towards resistance 1.

Observations :

• It should be noted that if there is no significant news to influence, the market price will be moving from the pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.

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USDCAD Daily Analysis - October 27, 2014 Forex Analysis

No changed in our view, USDCAD remains in uptrend from 1.0810 (Aug 29 low), the fall from 1.1385 would possibly be consolidation of the uptrend. Deeper decline is still possible, and the target would be at 1.1150 area. Resistance is at 1.1300, a break above this level will indicate that the uptrend from 1.0810 has resumed, then another rise towards 1.1500 could be seen.

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USDCHF Daily Analysis - October 27, 2014 Forex Analysis

USDCHF remains in uptrend from 0.9370, the fall from 0.9557 is likely consolidation of the uptrend. Another rise to test 0.9687 resistance could be expected after consolidation, and a break above 0.9557 resistance will signal resumption of the uptrend. Support is at 0.9440, only break below this level could trigger another fall to 0.9300 area.

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USDJPY Daily Analysis - October 27, 2014 Forex Analysis

USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 105.32. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 109.50 area. On the downside, a clear break below the trend line support will signal completion of the uptrend, then pullback to 106.50 area could be seen.

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AUDUSD Daily Analysis - October 27, 2014 Forex Analysis

AUDUSD continued its sideways movement in a range between 0.8642 and 0.8898. the sideways movement is likely consolidation of the downtrend from 0.9401, as long as 0.8898 resistance holds, another fall to 0.8400 area is still possible. Only break above 0.8898 resistance could signal completion of the downtrend.

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GBPUSD Daily Analysis - October 27, 2014 Forex Analysis

GBPUSD continued its sideways movement in a range between 1.5874 and 1.6226. Resistance is at 1.6226, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.6524, another fall to 1.5600 area could be expected after consolidation. On the upside, a break above 1.6226 resistance will indicate that the downtrend had completed at 1.5874 already, then further rise to 1.6400 area could be seen.

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EURUSD Daily Analysis - October 27, 2014 Forex Analysis

EURUSD is now in downtrend from 1.2867, the rise from 1.2613 is likely consolidation of the downtrend. Further decline to test 1.2500 support would likely be seen, a breakdown below this level will signal resumption of the longer term downtrend from 1.3700 (Jul 1 high), then next target would be at 1.2200 area. Resistance is at 1.2750, only break above this level could trigger another rise to 1.2950 area.

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