Technical Analysis on Gold for November 26, 2014 Market Analysis Review

The metal has been facing strong resistance exists at 50Dsma. In the previous session, the metal fell to 1190.00, but managed to close with marginal gains. Today, the metal opened on a bearish note, opened higher at $1,201.50. Today, the focus shifts to US durable goods orders, personal spending, and the PCE price index. The metal has strong resistance between $1,205.00 and $1,207.00. Until the metal closes below above these levels, bears have an upper hand. 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 strength, in case if the metal prices close above $1,207.00. From an Intraday view, the prices are taking support at $1,198.00, below this $1,195.90, $1,193.00, and $1,190.00 are the support levels. In the hourly chart, the metal is making higher highs and higher lows. We recommend intraday selling below $1,198.00 with the targets at $1,195.00, $1,193.00, and $1,190.00. In case if the prices correct below $1,190.00, it can extend its fall up to $1,188.00, $1,186.00, and $1,180.00. The panic will be triggered below $1,174.00.

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Technical Analysis on GBP/USD for November 26, 2014 Market Analysis Review

The cable is continuing its consolidation phase between 1.5590 and 1.5737. As of now, the pair made a triple top at the 1.5537 levels. The trading range is framed between 1.5590 and 1.5737. As of now, today the pair is unable to breach previous day's high. The mixed US data pushed the US dollar down against most of the pairs. The US consumer confidence report was weak, but the GDP expanded more than forecast in the 3rd quarter. The US dollar didn't respond to the positive GDP data. Maybe this a bit concern in the near term for bulls. As of now, in the weekly chart the cable has formed a double bottom at 1.5590. In case if the cable holds at the 1.5590, the double bottom can turn into a triple bottom on the weekly chart. In case if this happens, we can expect some technical bounce towards 1.5810 and 1.5880. Today, the focus shifts to US durable goods orders, personal sending, and the PCE price index. In the UK, second estimate GDP data will provide a clear picture. We recommend fresh buying above 1.5740 levels 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 for 100 or 150 pips down side. In the hourly chart, we can observe continuation of the symmetrical triangle. The height of the triangle is 147 pips.

Trade: Buying above 1.5740

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Technical analysis and trading recommendation on GBP/JPY for November 26, 2014 Market Analysis Review

The pound continues its winning streak for 6 weeks in a row. This week the cross is unable to breach the previous week high at 186.15. We recommend fresh buying only above the 186.20 levels. Today, the pair opened on a bearish note. The pair has support at 184.89. In case if the prices close above 186.15 on a daily basis, the pair challenges 186.90, 187.45, and 188.30. On the down side, in case if the price falls below 184.89, the pair can correct up to 184.70, 184.50, and 184.00. The panic will be triggered below the 183.90 levels. In the hourly chart, the prices are forming continuous symmetric triangle. We recommend risky trade buying above 185.60 with immediate targets at 186.00 and 186.10. For bears, we recommend selling below 184.50 with the targets at 184.30, 184.00, and 183.60. Risky traders can sell below the 184.70 levels. Today, the focus has shifted to second estimate of UK's GDP.

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Technical analysis and trading recommendation on EUR/USD for November 26, 2014 Market Analysis Review

The mixed US data pushed the US dollar down against most of the pairs. The US consumer confidence report was weak, but the GDP expands more than the forecast in the 3rd quarter. The euro stood high against the US dollar, gaining 30 pips. In yesterday's session, the pair faced resistance at 20Dsma or 1.2490 levels. In case if the pair breaches 1.2490, it has another multiple resistance at 1.2510. We recommend fresh intraday buying only above 1.2510 with the targets at 1.2575 and 1.2610. The hourly stochastic is indicating buying signal. Risky traders can buy at the 1.2490 levels. On the down side, the pair has support at 1.2440, 1.2400, and 1.2358. In the hourly chart, the prices are making a double bottom at the 1.2358 levels. The panic will be triggered below 1.2320 with the targets at 1.2250 and 1.2226. In case if the prices close below 1.2226, the pair can extend its fall up to 1.2100. In case, the prices close above 1.2600, further 200 pips upswing will ignite (1.2770 or 1.2880). For the near term, 1.2600 is the key level on the bullish front and 1.2350 and 12320 are the key support levels on the support side. The focus shifts to tomorrow's German prelim CPI, Spanish Flash CPI, German unemployment data, and the OPEC meeting. Huge volatility existed in the system ahead of the major key economic events.

Trade:

Buying above 1.2510.

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Technical analysis of EUR/USD for November 26, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Import Prices m/m and German 10-y Bond Auction. The US will release a number of important economic reports such as the Core Durable Goods Orders m/m, Unemployment Claims, Core PCE Price Index m/m, Durable Goods Orders m/m, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, New Home Sales, Pending Home Sales m/m, Crude Oil Inventories, and Natural Gas Storage. So, amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2542.

Strong Resistance:1.2534.

Original Resistance: 1.2522.

Inner Sell Area: 1.2510.

Target Inner Area: 1.2480.

Inner Buy Area: 1.2450.

Original Support: 1.2438.

Strong Support: 1.2426.

Breakout SELL Level: 1.2418.

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Technical analysis of USD/JPY for November 26, 2014 Market Analysis Review

Today, Japan will not release any economic data. But the US will publish many important economic reports such as Core Durable Goods Orders m/m, Unemployment Claims, Core PCE Price Index m/m, Durable Goods Orders m/m, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, New Home Sales, Pending Home Sales m/m, Crude Oil Inventories, and Natural Gas Storage. 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: 118.40.

Resistance. 2: 118.17.

Resistance. 1: 117.94.

Support. 1: 117.66.

Support. 2: 117.43.

Support. 3: 117.20.

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



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Daily analysis of USDX for November 26, 2014 Market Analysis Review

The USDX has made a pullback close to the resistance level of 88.63 on the daily chart again. It is therefore possible that this instrument falls to the support level of 87.35 in this week. The USDX could have a respite to fall to that level and try again routed to the level of 88.63 and consolidate above that area, because the USDX is forming a bullish pattern. The MACD indicator remains in the negative territory.

Dailychart's resistance levels: 88.63 / 90.40

Dailychart's support levels: 87.35 / 86.20

In the H1 chart, the USDX fell abruptly to the location of the 200 SMA at the support level of 87.86. The USDX could conduct a rebound over this area and reach the resistance level of 88.15 again because this instrument still remains strong in the current bullish bias.

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.

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Daily analysis of GBP/USD for November 26, 2014 Market Analysis Review

The GBP/USD pair is trying to make a breakout at the resistance level of 1.5700, to extend the corrective movements to the level of 1.5811 on H4 chart. However, the GBP/USD pair is preparing the ground to fall to the next target in the bearish road at the level of 1.5512. The GBP/USD pair remains below the 200 SMA and MACD indicator remains in the positive territory.

H4 chart's resistance levels: 1.5700 / 1.5811

H4chart's support levels: 1.5698 / 1.5512

In the H1 chart, the GBP/USD pair is forming a higher high pattern above the 200-day moving average, as this pair is trying to make a breakout at the resistance level of 1.5739, to climb to the level of 1.5810. On the other hand, we can see that this pair could find dynamic resistance at the 200-day moving average and fall to the level of 1.5632.

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.

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Daily analysis of major pairs for November 26, 2014 Market Analysis Review

EUR/USD: This currency trading instrument is making some commendable effort to go bullish, though some odds are still against it. An upward movement of over 110 so far this week is formidable enough, and when price goes above the resistance line at 1.2600, then things would have gone bullish. However, this goal is not currently easy to achieve.

USD/CHF: This is a bullish market, which can be rendered invalid only when price goes below the support line at 0.9550. Until then, the bullish outlook is logical, for the EMA 11 is still above the EMA 56 and the Williams’ % Range period 20 is not too far from the overbought region.

GBP/USD: This is a bearish market – with a Bearish Confirmation Pattern in the chart. The only thing that can render the Bearish Confirmation Pattern invalid is the condition in which price goes above the distribution territory at 1.5800.

USD/JPY: USD/JPY is still in a bullish mode. Following the shallow bearish attempt that happened yesterday, price has stabilized, forming a short-term base. The bullish trend is supposed to continue from here, as it takes price towards the supply level at 119.00. That is the ultimate target for this week.

EUR/JPY: This market dropped by around 60 pips yesterday, allowing astute bulls to enter the market when things were temporarily on sale and in the context of an uptrend. It is expected that price would go upwards towards the supply zone at 149.00. That supply zone was tested last week, and with enough strength in the market, it could be tested again this week or next week.

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USDCAD Daily Analysis - November 26, 2014 Forex Analysis

USDCAD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.1466, the rise from 1.1191 could be treated as consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to continue, and deeper decline to test 1.1121 support is possible. Only a clear break above the trend line resistance could signal completion of the downtrend.

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USDCHF Daily Analysis - November 26, 2014 Forex Analysis

USDCHF failed to break above 0.9739 resistance, and stayed in the trading range between 0.9531 and 0.9739. Another rise to test 0.9739 resistance would likely be seen, a break of this level will signal resumption of the uptrend from 0.9370, then the following upward movement could bring price to 1.0000 area.

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USDJPY Daily Analysis - November 26, 2014 Forex Analysis

USDJPY is facing the support of the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend from 105.32 could be expected to continue and next target would be at 120.00 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 118.97 already, then deeper decline to test 115.45 support could be seen.

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AUDUSD Daily Analysis - November 26, 2014 Forex Analysis

AUDUSD broke below 0.8540 support, indicating that the downtrend from 0.8910 has resumed. Further decline could be expected over the next several days, and next target would be at 0.8300 area. Resistance is at 0.8600, only break above this level will indicate that lengthier sideways movement is underway, then further rise to 0.8750 area could be seen.

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GBPUSD Daily Analysis - November 26, 2014 Forex Analysis

GBPUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the rise from 1.5590 could be treated as consolidation of the downtrend from 1.6182, another fall to 1.5400 area could be expected after consolidation. Only a clear break above the trend line resistance could signal completion of the downtrend.

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EURUSD Daily Analysis - November 26, 2014 Forex Analysis

EURUSD failed to break below 1.3258 support and stayed in the trading range between 1.2358 and 1.2599. As long as 1.2599 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.2867, another fall to 1.2000 area could be expected after consolidation.

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Intraday technical levels and trading recommendations on EUR/USD for November 25, 2014 Market Analysis Review

The price zone of 1.2880-1.2900 ( corresponding to the upper limit of the previous broken channel ) was being targeted one month ago. However, bearish pressure was applied earlier around 1.2800-1.2840 where the depicted head and shoulders reversal pattern was initiated.

A bearish breakout off the bullish channel took place shortly after, thus confirming a Flag continuation pattern. Bearish projection target was already reached around 1.2490.

Daily fixation below 1.2490-1.2500 (the origin of the previous bullish swing expressed one month ago) theoretically extends the bearish targets towards the price level of 1.2200.

As we mentioned, the EUR/USD bears needed to obviously fixate below 1.2490 soon enough ( took place already on Friday ).

Bullish recovery was expressed off 1.2360 resulting in Yesterday's daily bullish candlestick.

Price level of 1.2200 corresponds to the projection target of the current bearish flag pattern as long as the bears keep defending price zone of 1.2450-1.2490 as their recent SUPPLY zone.

As depicted on the chart, the EUR/USD pair has been respecting the limits of the current previous bearish channel until November 14.

Few ascending bottoms around 1.2400 and 1.2430 ( above the depicted broken uptrend line ) were established.

The EUR/USD pair managed to fixate above price level of 1.2500 for a few 4H candlesticks before the bears managed to apply enough bearish pressure on Friday.

Trade recommendations:

The bearish flag scenario should now be considered for the longer-term positions.

The EUR/USD pair now has a bearish projection target roughly located around price level of 1.2200.

Price zone of 1.2470-1.2490 should now be considered for SELLING the pair at considerable prices. Risky traders can SHORT the pair at lower prices as their money management allows.

Stop Loss should be located above 1.2575.

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

Fundamental overview:

USD/JPY is expected to consolidate in a higher range . USD/JPY is underpinned by the yen-funded carry trades amid the positive risk sentiment (VIX fear gauge eased 2.17% to 12.62, S&P 500 gained 0.29% to post record-high close of 2,069.41 overnight) on encouraging data from Germany and easy-money policies globally. USD/JPY is also supported by the demand from Japan's importers and Bank of Japan's large-scale easing policy. But USD/JPY gains are tempered by Japan's export sales and lower U.S. Treasury yields (10-year at 2.302% versus 2.315% late Friday), softer USD sentiment (ICE spot dollar index last 88.15 versus 88.41 early Monday) after lower Markit flash U.S. November services PMI of 56.3 versus final October reading of 57.1, drop in Chicago Fed National Activity Index to +0.14 in October from +0.29 in September.

Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at 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 118.70 and the second target at 119. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 117.40. A break of this target would push the pair further downwards and one may expect the second target at 116.75. The pivot point is at 117.75.

Resistance levels:

118.70

119

119.70

Support levels:

117.40

116.75

116.35

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

Fundamental overview:

USD/CHF is expected to trade in a higher range. It is undermined by the softer USD sentiment (ICE spot dollar index last 88.15 versus 88.41 early Monday) after lower Markit flash U.S. November services PMI of 56.3 versus final October reading of 57.1, drop in Chicago Fed National Activity Index to +0.14 in October from +0.29 in September, spillover strength from euro on the Swiss franc and franc demand on buoyant CHF/JPY cross. But USD/CHF losses are tempered by the ultra-loose Swiss National Bank's monetary policy.

Technical comments:

Daily chart is mixed as stochastics is in bullish mode, but MACD is bearish.

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 0.9720 and the second target at 0.9740. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9605. A break of this target would push the pair further downwards and one may expect the second target at 0.9555. The pivot point is at 0.9655.

Resistance levels:

0.9720

0.9740

0.9760



Support levels:
0.9605

0.9555

0.9515

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

Fundamental overview:

NZD/USD is expected to consolidate with a bearish bias. It is undermined by the China growth worries and weak commodity prices. But NZD/USD downside is limited by the NZD-USD interest differential, softer USD sentiment (ICE spot dollar index last 88.15 versus 88.41 early Monday) after lower Markit flash U.S. November services PMI of 56.3 versus final October reading of 57.1, drop in Chicago Fed National Activity Index to +0.14 in October from +0.29 in September and Kiwi demand on buoyant NZD/JPY cross amid the positive risk sentiment and Kiwi demand on soft AUD/NZD cross.

Technical Comment:

Daily chart is mixed as MACD is bullish, but stochastics is in bearish mode.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.7760. A break of this target will move the pair further downwards to 0.7735. The pivot point stands at 0.7840. In case the price moves in the opposite direction and bounces back from the support level, then it will move above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.7885 and the second target at 0.7910.

Resistance levels:

0.7885

0.7910

0.7945

Support levels:

0.7760

0.7735

0.77

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

Fundamental overview:

GBP/JPY is expected to trade in a higher range. It is supported by the improved euro sentiment, positive investor risk appetite and demand from Japan's importers. But GBP/JPY gains are tempered by Japan's export sales .GBP/JPY gains are tempered by the sterling sales on buoyant EUR/GBP cross.

Technical comment:

Daily chart is mixed as MACD is bullish, 5 and 15-day moving averages are advancing but stochastics is 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 185.75 and the second target at 186.30. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 184. A break of this target would push the pair further downwards and one may expect the second target at 183.35. The pivot point is at 184.45.

Resistance levels:

185.75

186.30

187

Support levels:

184

183.35

182.80

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Gold : analysis for November 25, 2014 Market Analysis Review

Overview :

Since our last analysis, gold has been trading sidewas around the price of 1,200.00. We are facing another low volume day, which is a sign that buying at this stage looks risky. 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 the 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 (successfully tested), 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: 1,202.16

R2: 1,204.74

R3: 1,208.90

Support levels:

S1: 1,193.84

S2: 1,191.26

S3: 1,187.10

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

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

Trading recommandations :

• According to the previous events, the NZD/USD pair has still been trapped between 0.7850 and 0.7735. A strong level (resistance) will be formed at the level of 0.7850, providing a clear signal for sell deals with the target seen at 0.7788 and 0.7733 in order to test the double bottom. Stop-loss is to be placed above 0.7865. In the long term, a strong level (support) will be formed at the level of 0.7662, providing a clear signal for buy deals with the targets seen at the 0.7703 and level. Stop-loss is to be placed below 0.7745.

Notes :

• We expect a range about 59 pips today.


• The risk of 59 pips must make a profit of 88 pips.


• The level of 0.7850 will confirm the bearish market.


• Volatility today is 127.86. As a rule, the market is highly volatile if the last day had a huge volatility.

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

Overview :

• The major support of the USD/CHF pair has already set at the level of 0.9560 and minor support sets at 0.9604. Equally important, the 0.9604 price coincides with the ratio of 38.2% Fibonacci retracement levels. On the other hand, the double top has placed at the point of 0.9730; and the first resistance is seen at 0.9700. Additionally, according to the previous events, the price will move between 0.9690 and 0.9604. In addition, the range will be around 90 pips today. Also, It should be noted that the trend is descending from the resistance level of 0.9700. Therefore, strong resistance will be formed at the level of 0.9700 providing a clear signal for sell deals with the targets seen at 0.9650 and it might resume to 0.9607 if the trend will be able to break the first target. Anywise, stop loss should never exceed your maximum exposure amounts, for that the stop loss should be placed above the double top at the 0.9745 level.

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Elliott wave analysis of EUR/NZD for November 25 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 1.6048

R2: 1.5990

R1: 1.5963

Current spot: 1.5920

S1: 1.5907

S2: 1.5878

S3: 1.5849

Technical summary:

Quite unpredictable moves are still going on. The rally from the 1.5644 low has been very strong, but we think that a top is close at hand and a correction towards at least 1.5849 and possibly even lower to 1.5805 soon will be seen. Once this correction is over, we should see a new powerful rally higher towards 1.6273 as the next strong resistance level that needs to be conquered to confirm the rally towards 1.6446 and higher towards 1.6800.

Trading recommendation:

We will be looking for a buying opportunity next to 1.5805.

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Elliott wave analysis of EUR/JPY for November 25 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 147.39

R2: 147.05

R1: 146.88

Current spot: 146.73

S1: 146.52

S2: 146.29

S3: 146.02

Technical summary:

The rally in wave (i) to 149.13 became a bit unusual as the rally ended at 149.13, where it was 423.6% the distance traveled in wave i added to the top of wave i. Looking at the upper chart, we can see that these former resistance points now act as both support and resistance as the correction from 149.13 is unfolding. The decline from 149.13 was halted at the 300% extension target for a minor rally to the 361.8% extension target before turning lower again. We will now be looking for the next part the decline from 149.13 lower to 144.58 before the next minor rally. In the short term, we expect minor resistance at 146.85 to protect the upside for the next decline towards 144.58.

Trading recommendation:

We sold EUR at 146.90 and will move our stop lower to 147.50 and place take profit at 144.75. If you are not short in EUR yet, then sell near 146.85 with the same stop and take profit levels.

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#USDX Technical analysis for November 25, 2014 Market Analysis Review

The Dollar index is pulling back after the Friday break out above 88.15. This back test is critical as bulls would not want to see another fake break out and reversal as this would imply that a deep correction is starting. A short-term trend remains bullish and the bullish flag pattern continues to be valid.

Black lines = consolidation range

The Dollar index is above the cloud support which is very thin. This is not a good sign. Support is at 87.80. Resistance is at 88.30. As long as the Dollar index remains above 87.50, the trend will remain bullish and we will continue to have 91 as a target.

The Dollar index remains in a bullish trend in the daily chart as long as price is above 86.50. The cloud indicators remain bullish and the bullish flag patterns point to 91. Trend reversal will occur if the index closes below 87.

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Gold Technical analysis for November 25, 2014 Market Analysis Review

Gold price remains around the 61.8% Fibonacci retracement and is showing signs of strength as it is holding above the short-term support of $1,189 and is trying to break above the sideways consolidation targeting $1,220-$1,225 in the short-term.

Blue line = support

Black line = contracting triangle

Gold price is breaking above the contracting triangle consolidation pattern and this is a bullish signal. Breaking above short-term resistance at $1,203 will be a bullish signal and this gives me a target of $1,220-25. So, I believe we could see one more final upside move before a trend reversal.

Black line = support

Gold price remains above the Ichimoku cloud and above the black line support. As long as these two conditions are met, a short-term trend remains bullish. Important resistance is at $1,225-$1,230. Breaking above that level will put my longer-term bearish view in challenge. Critical resistance is also the $1,255 high. Breaking above that level will make me rethink of my bearish expectations for $1,050. Concluding, the short-term trend targets $1,225, breaking support of $1,145 will favor my bearish view for a move down to $1,050.

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

General overview for 25/11/2014 09:20 CET

The corrective cycle labeled as wave W brown looks completed and the market has bounced from the level of the higher time frame support. So far, the wave progression inside the corrective cycle might be considered completed but there is still a chance that it will be more complex and time-consuming as the current wave progression will change into WXY complex structure. Only a new high above the level of 149.14 would neglect the possibility of another wave to the downside in the ongoing corrective cycle.

Support/Resistance:

149.14 - Swing High

148.50 - Intraday Resistance

147.98 - WR1

147.38 - Intraday Resistance

146.38 - Weekly Pivot

145.67 - Technical Support

145.84 - Intraday Support

Trading recommendations:

The level of 146.75 had been violated and now SL should be placed below the intraday support at the level of 145.58 and TP level in longer term should aim for the level of 147.98 and 149.14.

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

Technical outlook and chart setups:

The EUR/JPY pair is rallying as expected and hitting 147.40 levels before pulling back. Please note that the backside of immediate support trend line is providing resistance around the same region. Implications are both ways at the moment, with longer trend pointing higher. Till the time 145.58 (yesterday's low), remain intact, the pair could drift sideways or in a rising channel and try to push higher towards 151.00 and 154.00 levels in the sessions to come. On the flip side, a break below 145.50/55, the pair could drift lower towards further support trend line. Support is 145.55 (interim), followed by 145.00 and lower while resistance is 147.50 (interim) and 149.00 respectively.

Trading recommendations:

Remain long for now, move stop to 145.50, the target is open. One could reverse positions on a break below 145.50.

Good luck!

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

Technical outlook and chart setups:

The GBP/CHF pair has paused around the 1.5200/20 levels as seen here, around the fibonacci 0.50 resistance. It is still recommended to hold remaining long positions with a risk at break even. The pair might be looking to push through 1.5300 levels from here, which is also the support turned resistance zone, as depicted here. Resistance is seen at 1.5450 levels, followed by 1.5475, and 1.5550 levels while support is seen at 1.5100, followed by 1.5025, 1.4950 and lower respectively. Bulls could be looking to remain in control till 1.5300 levels at least.

Trading recommendations:

Remain long on remaining positions for now, move stop to break even levels, the target is at 1.5300.

Good luck!

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Technical analysis of Silver for November 25, 2014 Market Analysis Review

Technical outlook and chart setups:

Silver looks to be setting up to push higher towards $17.00 levels at least. It is recommended to hold remaining long positions taken earlier, risk remains below $15.40 for now. The metal maybe targeting $17.00 and subsequently $17.30 levels from here on. This could confirm that bulls are in control and further dips should be bought. On the flip side, a drop below $15.50 levels could be extremely bearish for the metal. Probabilities are stacked 60-40 towards higher side from the current level, though. Immediate support is seen at $15.90/16.00, followed by $15.20 and $15.00 levels while resistance is seen at $17.30/50, followed by $17.80/18.00 and higher respectively.

Trading recommendations:

Remain long, stop at $15.20, the target is open.

Good luck!

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Technical analysis of Gold for November 25, 2014 Market Analysis Review

Technical outlook and chart setups:

Gold has been trading in a tight range since last 2 sessions as seen here. The metal trades around $1,198.00/99.00 levels for now, looking to push higher. A break above $1,208.00/10.00 levels could challenge $1,235.00 and subsequently $1,255.00; indicating that bulls are here to stay longer. On the flip side, a bearish reaction around $1,208.00/10.00 could bring the metal back under pressure. Immediate support is seen at $1,175.00, followed by $1,147.00/50.00, $1,130.00 and lower while resistance is at $1,235.00, followed by $1,255.00 and higher respectively.

Trading recommendations:

Hold partial long positions taken earlier, stop at break even, the target is open.

Good luck!

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

The oil prices put pressure on this pair. The Canadian dollar raises its voice against the US dollar. The pair took the support from 50Dsma and started bouncing from a 3-week low. Today, the pair opened on a bullish mode, opened lower at 1.1278. The pair has the nearest resistance at 1.1315 20Dsma, above this strong upswing looms for targets at 1.1370, 1.1390, and 1.1400. On the down side, the pair has strong support zone between 1.1120 and 1.1100. Bears will have an upper hand below 1.1100. Ahead of the OPEC meeting on Thursday, we expect huge volatile this week. We can see a huge spike in case if the prices are breached above 1.1325. The pair has strong resistance zone between 1.1393 and 1.1402 and support zone between 1.1215 and 1.1191. The pair has major resistance at 1.1425 on a daily closing basis. In case if the pair closes above 1.1386 on a weekly basis, it can challenge 260 odd pips on the higher side. Today, traders' focus shifts to Canadian retail sales and US consumer confidence data.

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