Technical Analysis of GBP/USD for November 25, 2014 Market Analysis Review

GBP/USD

The cable has been consolidating at the lower levels. It seems the cable is forming a base at 1.5590. The trading range is framed between 1.5590 and 1.5737. Today, the pair opened on a bearish note unable to breach the previous day's high at the Asian session. As of now, on the weekly chart the cable formed a double bottom at 1.5590. In case if the cable holds the 1.5590 the double bottom, can turn to the triple bottom on the weekly chart. In case if this happens, we can expect some technical bounce towards 1.5810 and 1.5880. We recommend fresh buying above 1.5740 with the targets at 1.5770, 1.5800, 1.5850, and 1.5880. We recommend selling below 1.5670 with the targets at 1.5640 and 1.5630. In case if the cable falls below 1.5630, the last bulls hope exists at 1.5590. Below this, panic will be triggered with 100 or 150 pips down side. On the hourly chart, we can observe continuation of the symmetrical triangle. The height of the triangle is 147 pips.

Trade:

Selling below 1.5670.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical Analysis of GBP/USD for November 25, 2014 . Thanks for your support.

Technical Analysis of EUR/USD for November 25, 2014 Market Analysis Review

The business climate indicator rose after six consecutive shrinks. The Ifo Business Climate Index for industry and trade in German rose to 104.70 from 103.20 points in October. The manufacturing sector gives a big thumbs up in the export business. The Euro gained 80 pips in yesterday's session, closed at days high. The pair managed to held at the previous low and gave strong close. The further outlook on the Euro is still bearish because of easing. We recommend fresh selling below 1.2350 with the targets at 1.2320, 1.2300, 1.2250, and 1.2226. In case if the prices close below 1.2226, it can extend its fall up to 1.2100. Now the focus shifts on Thursday heavy economic data. German and Spanish CPI data and OPEC meeting are the key attraction of this week ahead. There is a lot of uncertainty in the fall in oil prices.

Today the pair opened on a bearish note, unable to breach the previous high at Asia's session. The pair has been facing strong resistance in broken support trend line. In case if the prices manage to stay above 1.2445, then they can aim up to 1.2490 20Dsma. We still recommend the same strategy, use every rise to sell. Until the prices close below 1.2490, use every rise to sell.

Trade: Strong selling will emerge below 1.2320.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical Analysis of EUR/USD for November 25, 2014 . Thanks for your support.

Technical analysis of EUR/USD for November 25, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Final GDP q/q and Italian Retail Sales m/m. The US will also release the economic data such as the Prelim GDP q/q, Prelim GDP Price Index q/q, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, and Richmond Manufacturing Index. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2490.

Strong Resistance:1.2482.

Original Resistance: 1.2470.

Inner Sell Area: 1.2458.

Target Inner Area: 1.2428.

Inner Buy Area: 1.2398.

Original Support: 1.2386.

Strong Support: 1.2374.

Breakout SELL Level: 1.2366.

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.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for November 25, 2014 . Thanks for your support.

Technical Analysis on Gold for November 25, 2014 Market Analysis Review

The yellow metal is facing strong resistance at $1,200.00. In yesterday's session, the metal rejected at $1,200.00 level and closed below that. Today, the metal opened on a bearish note, opened higher at $1,198.60. The metal has strong resistance between $1,205.00 and $1,207.00. Until the metal closes below these levels, bears have an upper hand. The metal was supported by China rate cut decision. This week, we can expect high volatility in the metal prices. The Swiss gold referendum will take place on November 30, 2014. The nearest weekly resistance exists at $1,213.50, above this $1,240 and $1,243.00 are the major resistance levels. Bulls will regain the strength, in case if the metal prices close above $1,207.00. Today, the focus shifts to US consumer confidence and GDP data.

From an intraday view, the prices are taking support at $1,295.50, below this $1,294.00 and $1,192.50 are the support levels. In the hourly chart, the metal is making higher highs and higher lows. The panic will be triggered below $1,174.00. After Fisher's inflation comments, gold started falling. We recommend intraday selling below $1,192.00 with the targets at $1,189.50, $1,186.40, $1,184.60, and $1,180.00 levels.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical Analysis on Gold for November 25, 2014 . Thanks for your support.

Technical analysis of USD/JPY for November 25, 2014 Market Analysis Review

In Asia, Japan will release the Monetary Policy Meeting Minutes, SPPI y/y, and BOJ Gov Kuroda Speech. The US will publish some economic data such as Prelim GDP q/q, Prelim GDP Price Index q/q, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, and Richmond Manufacturing Index. 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: 118.58.

Resistance. 2: 118.35.

Resistance. 1: 118.12.

Support. 1: 117.83.

Support. 2: 117.60.

Support. 3: 117.37.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/JPY for November 25, 2014 . Thanks for your support.

Daily analysis of USDX for November 25, 2014 Market Analysis Review

The USDX has made a pullback at the level of 88.45, although this instrument continues forming a bullish pattern above the trend line level of 88.15. If the USDX takes a breakout at the 87.93 level, one would expect to fall at the level of 87.65. The MACD indicator is entering the neutral territory.

H4chart's resistance levels: 88.19 / 88.65

H4chart's support levels: 87.93 / 87.35

In the H1 chart, the USDX made a retracement at the level of 88.15. So, this is likely to fall to the instrument support level of 87.86, where the 200 SMA is located. A breakout below that area, could endanger the current bullish trend in the USDX. On the other hand, if the USDX manages to surpass the level of 88.43, the bullish trend could last several days.

H1 chart's resistance levels: 88.15 / 88.43

H1 chart's support levels: 87.86 / 87.58

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 88.15, take profit is at 88.43, and stop loss is at 87.87.

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



For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of USDX for November 25, 2014 . Thanks for your support.

Daily analysis of GBP/USD for November 25, 2014 Market Analysis Review

On the daily chart, the GBP/USD pair continues forming a bearish pattern above the support level of 1.5642, so this pair has moved into a low range in the recent days. However, the correction in the GBP/USD pair could extend to the level of 1.5883 in the medium term. Note that this pair formed a fractal in the level of 1.5746. The MACD indicator is in the neutral territory.

H4chart's resistance levels: 1.5746 / 1.5883

H4chart's support levels: 1.5642 / 1.5506

The GBP/USD pair has made a breakout at the level of 1.5686 and now GBP/USD is facing resistance at the 200 SMA on the H1 chart. If the GBP/USD pair manages to form a bullish pattern over the area, the next target would be the resistance level of 1.5739, which is the high of November 20th. The bearish road at the support levels are 1.5686 and 1.5632. The MACD indicator is entering the overbought area.

H1 chart's resistance levels: 1.5739 / 1.5810

H1 chart's support levels: 1.5686 / 1.5632

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 1.5686, take profit is at 1.5632, and stop loss is at 1.5740.

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



For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of GBP/USD for November 25, 2014 . Thanks for your support.

Daily analysis of major pairs for November 25, 2014 Market Analysis Review

EUR/USD: After testing the support line at 1.2400, this market trended upwards. There is still a Bearish Confirmation Pattern in the market, which can only be rendered invalid when the price goes above the resistance line at 1.2600. Otherwise, the price may go further downwards from here.

USD/CHF: After testing the resistance level at 0.9700, this market trended downwards by more than 60 pips. There is still a Bullish Confirmation Pattern in the market, which can only be rendered invalid when the price goes below the support level at 0.9550. Otherwise, the price may go further upwards from here.

GBP/USD: This is a bearish market – irrespective of the bullish effort in it. The only thing that can make the bullish effort to render the bearish outlook useless is a situation in which the price goes above the distribution territory at 1.5800. That is the point where it would be clear that short trades are not sensible.

USD/JPY: This pair remains in a bullish market and it is supposed to continue going further upwards. The nearest target for bulls is at the supply level at 119.00, which could be reached this week. With enough strength in the market, the price can even go beyond that supply level.

EUR/JPY: There is a rally on EUR/JPY after the price touched the demand zone at 145.50. The price has moved upward by 150 pips since then, and further move may enable this cross to recover the loss it incurred around the end of last week. There is now a bullish target at the supply zone of 149.00, which was touched last week.

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



For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of major pairs for November 25, 2014 . Thanks for your support.

Technical analysis of USD/JPY for November 24, 2014 Market Analysis Review

Fundamental overview:

USD/JPY is expected to consolidate. Liquidity was thin in Asia on Monday as financial markets in Japan were shut for a public holiday. USD/JPY is undermined by the Japan's finance minister Aso's remark on Friday that the recent fall in yen had been too fast. USD/JPY is also weighed by lower U.S. Treasury yields (10-year at 2.315% versus 2.333% late Thursday), buy-yen orders from Japan's exporters. But USD/JPY losses are tempered by the sell-yen orders from Japan's importers, Bank of Japan's large-scale easing policy and the positive dollar sentiment (ICE spot dollar index last 88.41 versus 87.67 early Friday) on divergent Federal Reserve's monetary policy versus that of other major central banks and stronger-than-expected rise in Kansas City Fed manufacturing production index to 9 in November from 3 in October (versus forecast of 5), yen-funded carry trades amid the positive investor risk sentiment (VIX fear gauge eased 5.01% to 12.9; S&P 500 hit all-time high 2,071.46 Friday before closing up 0.52% at 2,063.5) after China's central bank cut interest rates for the first time in more than two years and the European Central Bank's president reiterated that the ECB was ready to expand its stimulus program.

Technical comment:
Daily chart is still positive-biased as MACD is bullish, stochastics stays elevated at the overbought levels, 5 and 15-day moving averages are advancing.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 119 and the second target at 119.70. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 116.75. A break of this target would push the pair further downwards and one may expect the second target at 116.35. The pivot point is at 117.40.

Resistance levels:

119

119.70

120

Support levels:

116.75

116.35

116.05

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/JPY for November 24, 2014 . Thanks for your support.

Technical analysis of NZD/USD for November 24, 2014 Market Analysis Review

Fundamental overview:

Technical comment:
NZD/USD is expected to trade with a bullish bias. It is supported by the Kiwi demand on buoyant NZD/JPY cross amid the positive risk sentiment and NZD-USD interest differential. But NZD/USD gains are tempered by the positive dollar sentiment, weak dairy prices; and Kiwi sales on buoyant AUD/NZD cross. Daily chart is mixed as stochastics is bearish near the overbought levels, but MACD is in a bullish mode.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.7910 and the second target at 0.7945. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.7820. A break of this target would push the pair further downwards and one may expect the second target at 0.7790. The pivot point is at 0.7850.

Resistance levels:

0.7910

0.7945

0.8005

Support levels:

0.7820

0.7790

0.7750

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of NZD/USD for November 24, 2014 . Thanks for your support.

Technical analysis of GBP/JPY for November 24, 2014 Market Analysis Review

Fundamental overview:

GBP/JPY is expected to trade in a higher range. It is weighed by the weak euro sentiment after ECB President Draghi's signal of more aggressive monetary easing. Sterling sentiment is dented after PM Cameron's Conservative Party's loss of parliament seat to the U.K. Independence Party, which advocates the U.K.'s exit from the EU, in a vote Thursday. GBP/USD is also weighed by the positive dollar sentiment.

Technical comment:

Daily chart is mixed as MACD is bullish, but stochastics is turned bearish at the overbought levels.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 186.15 and the second target at 187. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 183.35. A break of this target would push the pair further downwards and one may expect the second target at 182.80. The pivot point is at 184.15.

Resistance levels:

186.15

187

187.75

Support levels:

183.35

182.80

182.35

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/JPY for November 24, 2014 . Thanks for your support.

Technical analysis of GBP/JPY for November 24, 2014 Market Analysis Review

Fundamental overview:

GBP/JPY is expected to trade in a higher range. It is weighed by the weak euro sentiment after ECB President Draghi's signal of more aggressive monetary easing. Sterling sentiment is dented after PM Cameron's Conservative Party's loss of parliament seat to the U.K. Independence Party, which advocates the U.K.'s exit from the EU, in a vote Thursday. GBP/USD is also weighed by the positive dollar sentiment.

Technical comment:

Daily chart is mixed as MACD is bullish, but stochastics is turned bearish at the overbought levels.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 186.15 and the second target at 187. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 183.35. A break of this target would push the pair further downwards and one may expect the second target at 182.80. The pivot point is at 184.15.

Resistance levels:

186.15

187

187.75

Support levels:

183.35

182.80

182.35

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/JPY for November 24, 2014 . Thanks for your support.

Gold : analysis for November 24, 2014 Market Analysis Review

Overview :

Since our last analysis, gold has been trading sidewas around the price of 1,195.00. We are waiting for a larger volume and stronger price action on the market. According to the daily time frame, we can observe weak demand, which is a sign that buying looks risky. We can observe rejection from our Fibonacci retracement 61.8% at the price of 1,208.00, which caused price to start a bearish phase. I have placed Fibonacci expansion to find potential support levels and I got Fibonacci expansion 61.8% at the price of 1,194.00 (currently on the test), Fibonacci expansion 100% at the price of 1,188.00 and Fibonacci expansion 161.8% at the price of 1,177.00. If the price breaks the level of 1,194.00 in a high volume and strong price action, we may see potential testing the level of 1,188.00. Be careful when buying at this stage but watch for buying opportunities after a bearish corrective phase.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,203.71

R2: 1,204.59

R3: 1,206.00

Support levels:

S1: 1,200.89

S2: 1,200.01

S3: 1,198.60

Trading recommendations: Watch for potential buying opportunities after retracement (buy on the lows).

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



For detail explanation and best discovery on daily market trends and news you may visit via Gold : analysis for November 24, 2014 . Thanks for your support.

EUR/NZD : analysis for November 24, 2014 Market Analysis Review

Overview:

In our last analysis, EUR/NZD has been trading downwards. As we expected, the price rejected from the level of 1.6035 and tested the level of 1.5641. According to the daily time frame, we can observe supply in an ultra high volume (selling climax), which is a sign that selling EUR/NZD at this stage looks very risky and that we may see a potential absorption phase. According to the 4H time frame, we can oberve a bullish corrective phase. I have placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 38.2% at the price of 1.5790 and Fibonacci retracement 61.8% at the price of 1.5885. If the price breaks breaks the level of 1.5820, we will have an absorption volume. Anyway, if we don't see an absorption volume. If we see larger reaction from sellers and bearish continuation, our next down station will be around the price of 1.5515.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5896

R2: 1.5971

R3: 1.6092

Support levels:

S1: 1.5654

S2: 1.5579

S3: 1.5458

Trading recommendations: Be careful when selling EUR/NZD since we got strong selling climax in the background.

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



For detail explanation and best discovery on daily market trends and news you may visit via EUR/NZD : analysis for November 24, 2014 . Thanks for your support.

Elliott wave analysis of EUR/NZD for November 24 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 1.5862

R2: 1.5818

R1: 1.5785

Current spot: 1.5751

S1: 1.5738

S2: 1.5683

S3: 1.5643

Technical summary:

The decline to a new low at 1.5643, does not really fit the picture, but we still think that wave iv of the expanded diagonal either has ended or will end with a slight new low just below 1.5643 for a rally towards 1.6446 on the way higher to 1.6800. Short term, we should expect resistance near 1.5785 for one final decline to 1.5643 or just below before a new strong rally higher.

Trading recommendation:

We will buy EUR at 1.5655 with a stop at 1.5520.

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



For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/NZD for November 24 - 2014 . Thanks for your support.

Elliott wave analysis of EUR/JPY for November 24 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 147.92

R2: 147.45

R1: 147.01

Current spot: 146.70

S1: 146.52

S2: 146.29

S3: 146.03

Technical summary:

The decline from 149.13 does have impulsive characters. Short term, we will be looking for resistance next to 147.01 for one more impulsive decline to the 144.83 - 145.25 area to end wave a of the correction. We will be looking for a deeper decline in wave (ii) towards 142.06 before the correction in wave (ii) is over and wave (iii) higher is expected.

Trading recommendation:

We will sell EUR at 146.90 with a stop at 147.92 and take profit at 145.50.

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



For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/JPY for November 24 - 2014 . Thanks for your support.

Weekly technical levels of EUR/USD for November 24-28, 2014 Market Analysis Review

The weekly technical levels of EUR/USD pair:

Intraday trading recommendations :

• The EUR/USD pair probably is going to move between the levels of 1.2310 and 1.2460 on November 24, 2014. The level of 1.2310 will indicate strong support. The intraday resistance will set at the price of 1.2460. So, we expect that the level of 1.2560 will form a new double top at this price. Therefore, it will be wise to buy above the area of 1.2330 with the first target at 1.2422 (minor resistance), then it will continue towards the level of 1.3454 in order to test the weekly pivot point. The stop loss should be placed below 1.2310.
  

Observations :

• The trend still calls for a bullish market from the level of 1.2330.


• The support will set at the level of 1.2310.


• The resistance has already placed at 1.2460.


• So, we expect a range of 84 pips.


• The weekly pivot point is set at 1.2450. So, above the price of 1.2460 it will be a good sign to confirm for a bullish market.

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



For detail explanation and best discovery on daily market trends and news you may visit via Weekly technical levels of EUR/USD for November 24-28, 2014 . Thanks for your support.

#USDX Technical analysis for November 24, 2014 Market Analysis Review

The Dollar index has broken above its resistance on Friday and is back testing it now. The trend is bullish both in short- and long-term. The bullish flag pattern within the longer-term bullish flag confirms that our target is 91. So, there is increasing chance of reaching that level before a deeper pullback correction for the Dollar.

Black line = support

The Dollar index remains above the Ichimoku cloud and has broken above the previous double top price level of 88.15. The cloud is thin and this is not a good sign. We could see a short-term pull back towards 87.95 but this support should hold and prices should continue higher, otherwise we will be in danger of seeing another fake break out. Critical support at 87.50-87.30 must hold for the bullish longer-term trend to remain in control.

The long-term trend remains bullish. The bullish flag within the bullish flag confirms our bullish target of 91. On a daily basis, critical support is found at 87.80, so a daily close above it keeps the bullish trend intact.

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



For detail explanation and best discovery on daily market trends and news you may visit via #USDX Technical analysis for November 24, 2014 . Thanks for your support.

Weekly technical levels of GBP/USD for November 24-28, 2014 Market Analysis Review

The weekly technical levels of GBP/USD pair:

Trading recommendations :

• According to previous events, the price of GBP/USD pair has still been trapped between 23.6% of Fibonacci retracement and 61.8% in H1 chart. So, these ratios will coincide with the levels of 1.5624 and 1.5680 respectively.


• Long buying:


• Buy above the level of 1.5590 (the double bottom) with the first target of 1.5660 in order to test the weekly pivot point, it might resume to 1.5680 today.


• However, the stop loss should always be in account, for that it will quite safe to set the stop loss at the level of 1.5565. Also, it should be noted that support 1 is set at the 1.5585 level.

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



For detail explanation and best discovery on daily market trends and news you may visit via Weekly technical levels of GBP/USD for November 24-28, 2014 . Thanks for your support.

Gold Technical analysis for November 24, 2014 Market Analysis Review

Gold price continues to trade around the 61.8% retracement level. The trend is neutral as we have not seen a clear break above $1,200 yet. A clear break above $1,200 could push Gold price towards $1,225. Critical short-term support is found at $1,190-$1,174. I still believe this upward move from $1,130 is corrective and we have not seen the low in Gold price.

Red line = resistance

Blue line = support

Gold price continues to trade within the trading range of $1,204 and $1,174. The short-term trend remains neutral. A break above $1,203-$1,204 will give a bullish signal with $1,225 as the first target. Support at $1,174 will be tested if we see Gold price break below $1,190.

Black line = support

Gold price continues to trade around the 61.8% Fibonacci retracement which is important resistance. Holding above the cloud and the black trend line is a sign that bulls continue to have the upper hand. Short-term support by the kijun-sen is at $1,191. Soon, we will see if support holds and price bounces above Friday's highs or we see a trend reversal from the current levels and a push towards $1,174 support. My longer-term view remains bearish targeting at $1,050.

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



For detail explanation and best discovery on daily market trends and news you may visit via Gold Technical analysis for November 24, 2014 . Thanks for your support.

Technical analysis of EUR/JPY for November 24, 2014 Market Analysis Review

General overview for 24/11/2014 09:10 CET

After finding support at the level of 145.59 which is a higher time frame important level, the corrective cycle labeled here as wave W brown looks to be completed. Now, the market is trying to resume the impulsive rally to the upside. The golden trend line is still providing dynamic resistance and only a clear breakout above the key level at the mark of 146.75 might indicate the market will try to test the recent swing high at the level of 149.14. Otherwise, a failure here would mean, the corrective cycle will be more complex and time-consuming.

Support/Resistance:

149.14 - Swing High

147.98 - WR1

146.75 - Intraday Resistance|Key Level|

146.38 - Weekly Pivot

145.67 - Technical Support

145.59 - Intraday Support

144.70 - Old Wave Four Low

143.68 - WS1

142.08 - WS2

Trading recommendations:

Day traders should consider opening buy orders only if the level of 146.75 is violated. SL then should be placed below the level of 145.59 and TP level in longer term should aim for the level of 147.98 and 149.14.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for November 24, 2014 . Thanks for your support.

Technical analysis of USD/CAD for November 24, 2014 Market Analysis Review

General overview for 24/11/2014 08:35 CET

The impulsive wave development to the downside is accelerating as the wave -iii- blue has been completed. Currently, the internal corrective cycle in wave -iv- blue is needed to complete before another leg down will appear. The invalidation line for wave -iv- blue is at the level of 1.1260 and if it is violated, then it will be the first indication, that the whole structure inside the golden channel is really a complex corrective pattern full of zig-zags and not an impulsive wave progression. Moreover, the top for wave 5 blue at the level of 1.1465 might be just a temporary swing high before new highs are made.

Support/Resistance:

1.1148 - WS2

1.1190 - Intraday Support

1.1224 - WS1

1.1251 - Intraday Resistance

1.1258 - Weekly Pivot

1.1260 - Blue Impulsive Count Invalidation Line

1.1326 - WR1

Trading recommendations:

Day traders should consider opening buy orders only if the level of 1.1260 is violated. SL then should be placed below the swing low and TP level in longer term should aim for the level of 1.1370 and 1.1465.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for November 24, 2014 . Thanks for your support.

Technical Analysis of USD/CHF for November 24, 2014 Market Analysis Review

The US dollar is well placed at higher levels against the Euro, JPY, and CHF. A surprise interest rate cut by China made the USD friendly. The People’s Bank of China cut the one-year benchmark lending rate by 40 basis points to 5.6% and the one-year deposit rate by 25 basis points to 2.75%. The Swiss gold referendum will take place on November 30, 2014. Today, the pair opened with a gap up, but unable to sustain there. The pair has immediate parallel resistance at 0.9742. On the daily chart, the pair has made higher lows and higher highs formation. In case if the price breaches the 0.9742 levels, it can extend its rally up to 0.9950. We have been recommending using every dip to buy with the targets at 0.9800, 0.9840,0.9970, and 1.017. The parallel monthly resistance exists at 0.9751. We recommend buying above 0.9751 with the targets at 0.9820 and 0.9870. If a daily close is above 0.9742, the bulls will challenge new highs by adding 150 or 200 pips on the higher side.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical Analysis of USD/CHF for November 24, 2014 . Thanks for your support.

Technical Analysis of GBP/USD for November 24, 2014 Market Analysis Review

The positive CPI and retail sales data helped the pound to recover from its lows. The cable made a low at 1.5590, a 14-month low against the US dollar. The US dollar gained strength after China rate cut and Draghi comments. In terms of the economic events this week, it's a quiet week for the pound. This week's pound fortune or fate will rely on the GDP data which is expected to be released on Wednesday. Today, the pair opened on a bullish note, opened lower at 1.5636. The pair has nearest support at 1.5590. Panic will be triggered below this with the targets at 1.5500. Bears can challenge 100 odd pips on the down side. Considering a weekly close below 1.5500, we can expect 250 odd pips correction on the downside from the medium-term view. The pair has strong, long-term support at 1.5500. Below 1.5500, 1.5429 and 1.5300 are the other support levels.

From an intraday view, the prices are closed and trading below 12DEMA. But the 35DEMA providing enough support exists at 1.5625 on an hourly basis. On the higher side, 1.5670 will act as a resistance level. In case if the pound falls below 1.5625, the last hope for bulls exists at 1.5590. In case if the pair corrects below 1.5590 again, the selling pressure will increase . The panic will be triggered below 1.5590. On an intraday and positional basis, we are recommending selling on every upswing at 1.5675. The trading pattern is framed between 1.5590 and 1.5736. In case if the prices break below 1.5590, we recommend selling with the targets at 1.5535 and 1.5510. Below 1.5500, another 100 or 150 pips will move downside .

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical Analysis of GBP/USD for November 24, 2014 . Thanks for your support.