Technical analysis of Silver for November 10, 2014 Market Analysis Review

Technical outlook and chart setups:

Silver bounced off the $15.00 levels on Friday and closed around the high of the day at $15.75, producing a morning star on the daily chart view. It is recommended to remain long and also continue to buy on dips. Resistance is seen at $16.20 levels, followed by $17.40, $17.80/18.00 while support is seen at $15.00 levels respectively. Bulls want to target at $16.20 as an immediate target before pulling back. Also note that $16.20/25 is the fibonacci 0.382 resistance level of the drop between $17.50 and $15.00 levels respectively. Breaking the $16.20 resistance, Silver could be bought again after dips around $15.50 region.

Trading recommendations:

Remain long in the metal for now. Stop at $14.75.

Good luck!

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Technical analysis of Gold for November 10, 2014 Market Analysis Review

Technical outlook and chart setups:

Gold has rallied from $1,130 to $1,180.00 levels, as expected. It is recommended to take profit on long positions taken on Friday, at the current levels ($1,172.00). The metal had paused at fibonacci 0.382 resistance for now and can possibly print a new high (just by a few points), before pulling back to retrace. Resistance is seen at $1,208.00, followed by $1,235.00, $1,250.00 while support is seen at $1,130.00 respectively. It remains possible that the current rally could extend above $1,250.00 but at the moment it is too early to confirm. Looking for a pullback around $1,150.00 levels to again initiate long positions.

Trading recommendations:

Exit long positions. Re-enter around $1,150.00, stop at $1,125.00, the target is open.

Good luck!

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Technical Analysis of Gold for November 10, 2014 Market Analysis Review

The yellow metal rebounds from the lower levels after the soft US data hit the wires. The overall picture favors bears. In Friday's session, the metal gained approximately $35 and closed above the day's high. Today, the metal opened on a bearish note, opened higher at $1,177.60. We recommend buying only above $1,178.50 levels and strong upmove will underpin above $1,183.00 with the targets at 1,200 .00 and 1,212.00. The weekly support exists at $1,161.00, below this free mode will be triggered. As we recommended earlier, we are still looking at the lower level targets of $1,024.00, $927.00 and $850.00-$800.00 in the longer-term view. The metal has strong resistance at the broken support trend line, above this at $1,188.00 200MSma and $1,212.00 200MEma. The monthly resistance exists at $1,233.00.

Resistance: $1,178.50, $1,182.00, $1,200.00.

Support: $1,161.00, $1,131.00, $1,102.00.

For an hourly basis, the prices are closed above 35DEMA and 12ema levels. The prices have strong resistance at $1,178.50. We recommend buying above $1,178.50 with the targets at $1,182.00, above this at $1,190.00 and $1,193.00. In case, if the prices break below $1,167.90, the weakness persists. We recommend selling at $1,167.00 with the targets at $1,158.00, below this at $1,152.00 and $1,146.00. Currently, the trading range of the prices is framed between $1,178.40 and $1,167.90 levels. Either side breakout will provide further room for trading.

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Technical analysis of EUR/USD for November 10, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as Italian Industrial Production m/m, and Sentix Investor Confidence. The US economic calendar will not release any reports today. So, in this context, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2520.

Strong Resistance:1.2512.

Original Resistance: 1.2500.

Inner Sell Area: 1.2488.

Target Inner Area: 1.2458.

Inner Buy Area: 1.2428.

Original Support: 1.2416.

Strong Support: 1.2404.

Breakout SELL Level: 1.2396.

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 November 10, 2014 Market Analysis Review

In Asia, Japan will not release any economic data. The US economic calendar does not expect any reports today. So, there is a big probability the USD/JPY pair will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 114.75.

Resistance. 2: 114.53.

Resistance. 1: 114.31.

Support. 1: 114.03.

Support. 2: 113.80.

Support. 3: 113.58.

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 on GBP/USD for November 10, 2014 Market Analysis Review

The pair saw another bearish week. On Friday's session the pair managed to recover 40 pips and closed at the highest point. This week the key economic event to be released on Wednesday is the UK employment data. The pair has resistance at 1.6040, 1.6147, and 1.6220 levels. On the downside, 1.5750 will act as strong support, below this 1.5620 and 1.5500 are open targets. The pair favors selling on the rise. The cable has strong resistance between 1.6227 and 1.6183 levels. Use every rise to sell, until the prices close above these resistance levels. The monthly resistance exists at 1.6030 50M sma levels. The pair has weekly resistance at 1.6025, above this we can expect 1.6092 and 1.6200.

For an intraday view, the prices are closing and trading above 35DEMA. The prices have resistance at the 1.5896 levels. Above this, 1.5910 and 1.5940 will act as resistance levels. Until the prices close below 1.5940, bears will try to drag the pair to lower levels. In the h4 chart, the prices are making lower highs and lower lows. We recommend selling below 1.5870 with the targets at 1.5845 and 1.5800 levels.

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Technical analysis and trading recommendation on EUR/USD for November 10, 2014 Market Analysis Review

The pair saw another bearish week. On Friday's session the pair managed to recover 80 pips and closed at the highest point. This week, the key economic events falling on Wednesday are Industrial production, Thursday German final CPI, French CPI, and US unemployment claims. The major key events falling on Friday are French and German prelim GDP, French non-farm payrolls, US retail sales and core retails sales. We expect a huge volatility this weekend. The pair has weekly resistance at 1.2580, 1.2630, and 1.2770. Until the prices close below 1.2500 on a daily basis, the bears will have an upper hand. As we recommended earlier, sell on every upswing with the downside initial targets at 1.2300 and 1.2230. As we know, President Draghi said the ECB would soon start the purchases of asset-backed securities for two years. On the downside, the pair has support at 1.2350, below this 1.2226 is the major support level.

For an intraday view, the prices are closed and trading above 12ema and 35DEMA. But the pair has strong hourly resistance at 1.2480. Above this, 1.2505 will act as another resistance level. On the down side, the pair has support at 1.2460, below this at 1.2435, 1.2410, and 1.2366. In case, if the pair correct below 1.2400 again the selling pressure will increase. The panic will be triggered below the 1.2358 levels. We recommend buying only above 1.2485 with the targets at 1.2500 and 1.2530 levels. Risky traders use sl 1.2485 selling on an up move. On a positional basis, we recommend selling on every upswing.

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Daily analysis of major pairs for November 10, 2014 Market Analysis Review

EUR/USD: This pair is still in a weak market, but there is a good possibility that the pair may rally this week. This may happen as a result of the EUR becoming strong versus some other popular currencies, including, of course, the USD. This may happen this week or next week, and therefore we are looking for a rally here.

USD/CHF: This currency trading instrument closed at 0.9660 (on Friday, November 7, 2014). The price closed lower in the context of a downtrend. Some may see the bearish correction as another opportunity to go long, provided that the price would not go below the resistance level at 0.9600. It is a level where long trades may no longer be sensible.

GBP/USD: The Cable dropped by 200 pips last week, testing the accumulation territory at 1.5800 before bouncing upwards beyond the accumulation territory at 1.5850. For the bearish trend to continue, the accumulation territory at 1.5800 would be tested again; otherwise the price may go above the distribution territory at 1.5950.

USD/JPY: The USD/JPY pair tested the supply level at 115.50 several times, but it was unable to break it to the upside. There is an existing bearish pullback in the market, which could be challenged at the demand level of 113.50. Any movement below that demand level may put the bullish outlook in a precarious situation.

EUR/JPY: This market moved sideways in the last few days of the last trading week, on a consolidation note. The market is consolidating in the context of an uptrend. Any movement above the supply zone at 143.50 would signal the renewal of the bullish trend, but any movement below the demand zone at 141.50 would put the uptrend in jeopardy.

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Daily analysis of USDX for November 10, 2014 Market Analysis Review

The USDX has made an interesting pullback at the level of 87.95 on the daily chart. Because of this bearish pattern, the USDX could make a breakout at the support level of 87.35 and fall to the level of 86.20. However, we must be cautious in the medium term with the USDX, because this instrument could rise to the resistance level of 88.63.

Dailychart's resistance levels: 88.63 / 90.40

Dailychart's support levels: 87.35 / 86.20

On the H1 chart, the USDX had a fall from the resistance level of 88.15. Now, this instrument is finding support at the 87.58 level. If the USDX manages to make a breakout at that level, the next target would be the 87.28 level. However, our bullish outlook on the USDX still kept alive, because this instrument is located above the 200 SMA. MACD indicator remains in the negative territory.

H1 chart's resistance levels: 87.86 / 88.15

H1 chart's support levels: 87.58 / 87.28

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 87.86, take profit is at 88.15, and stop loss is at 87.57.

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Daily analysis of GBP/USD for November 10, 2014 Market Analysis Review

At the H4 chart, the GBP/USD pair is forming a bullish pattern above the support level of 1.5811, while the resistance level of 1.5874 has halted future rises in the GBP/USD. This pair is likely to achieve consolidation above this level during this week though GBP/USD remains strong in the current bearish trend. On the downside road, if this pair makes a breakout at the support level of 1.5811, it would be expected to fall to the level of 1.5698 in the medium term.

H4chart's resistance levels: 1.5874 / 1.5951

H4chart's support levels: 1.5811 / 1.5698

The GBP/USD pair has made a strong bullish rebound at the support level of 1.5810. This pair is likely to make a pullback at the resistance level of 1.5871, because we expect this pair to finish making corrective movements in this area. On the other hand, consolidation above this resistance level, could lead GBP/USD to rise up to the level of 1.5925 in the H1 chart. The MACD indicator remains in the positive territory.

H1 chart's resistance levels: 1.5871 / 1.5925

H1 chart's support levels: 1.5810 / 1.5739

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 1.5810, take profit is at 1.5739, and stop loss is at 1.5881.

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USDCAD Daily Analysis - November 10, 2014 Forex Analysis

USDCAD broke below 1.1330 support, indicating that the uptrend from 1.1121 had completed at 1.1466 already. Deeper decline could be expected, and next target would be at 1.1250 area. Resistance is at 1.1466, only break above this level could trigger another rise to 1.1600 zone.

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USDCHF Daily Analysis - November 10, 2014 Forex Analysis

USDCHF's upward movement from 0.9370 extended to as high as 0.9739, the subsequent fall is likely consolidation of the uptrend. Support is at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to resume, and another rise to 0.9900 area is still possible. Only a clear break below the channel support could signal completion of the uptrend.

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USDJPY Daily Analysis - November 10, 2014 Forex Analysis

USDJPY remains in uptrend from 105.32, the fall from 115.50 is likely consolidation of the uptrend. Range trading between 113.17 and 115.50 would likely be seen in a couple of days. As long as 113.17 support holds, the uptrend could be expected to resume, and another rise to 117.00 area is still possible. On the downside, a breakdown below 113.17 support will indicate that the uptrend had completed at 115.50 already, then deeper decline to 110.00 area could be seen.

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AUDUSD Daily Analysis - November 10, 2014 Forex Analysis

AUDUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 0.8910 had completed at 0.8540 already. Further rise would likely be seen, and the target would be at 1.8750 area. Support is at 0.8540, only break below this level could trigger another fall to 0.8400 zone.

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GBPUSD Daily Analysis - November 10, 2014 Forex Analysis

GBPUSD is in downtrend from 1.6182, the rise from 1.5790 is likely consolidation of the downtrend. Resistance is located at the downward price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and next target would be at 1.5600 area. However, a clear break above the channel resistance will indicate that the downtrend had completed at 1.5790 already, then further rise to 1.6100 area could be seen.

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EURUSD Daily Analysis - November 10, 2014 Forex Analysis

EURUSD remains in downtrend from 1.2867, the rise from 1.2358 is likely consolidation of the downtrend. Resistance is located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.2200 area. Only a clear break above the channel resistance will indicate that the downtrend had completed at 1.2358 already, then the following upward movement could bring price back to 1.2750 area.

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