Elliott wave analysis of EUR/NZD for December 11 - 2014 Market Analysis Review

Technical summary:

Support at 1.6028 held perfect for the next attack on the resistance line. As expected, it broke for a rally higher towards 1.6273, but suddenly near 1.6200 prices ran into a brick wall and took an awful dive. Should we be afraid? When prices collapse like this, we should always be careful, but we regard this decline as wave ii and will be looking for wave iii higher to at least 1.6526, where wave iii will be 161.8% of wave i. In the short term, only a break below 1.5789 will invalidate the bullish outlook.

Trading recommendation:

Our stop at 1.6010 was hit for a nice profit. We will buy EUR again at 1.5915 or upon a break above 1.5984 with a stop at 1.5775.

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 December 11 - 2014 . Thanks for your support.

Technical Analysis of USD/CAD for December 11, 2014 Market Analysis Review

IMPACT ON THE USD-

Today, the focus has shifted to retail sales, core retail sales, and unemployment data. China's economy slowdown supported demand for the Yen and pushed the US dollar lower against most of the currencies.

IMPACT ON THE CAD-

Today, the focus has shifted to the speech of BOC Governor Poloz.

At yesterday's session, the pair made a double top at 1.1502 and closed at 1.1482. Today, the pair opened on a bearish note, opened higher at 1.1481. Until the prices trades and close below 1.1502, we can witness weakness. In case if the prices close above 1.1502 on a daily basis, it can challenge 1.1540, 1.1565, and 1.1575 in the near term. For an intraday session, we recommend buying only above 1.1485 (today's high) until the current market price 1.1482 remain on the selling side. The intraday support exists at 1.1430. In case, an hourly candle closes below 1.1455, it can extend its fall up to 1.1430 and 1.1400. Today's major US data will determine the trend.

Trade:

Buy above 1.1485.

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 December 11, 2014 . Thanks for your support.

Elliott wave analysis of EUR/JPY for December 11 - 2014 Market Analysis Review

Technical summary:

The correction from 149.13 continues to unfold as expected. Wave c of the expanded flat should continue lower to 144.79 as the first target. That said, wave c is allowed to extend and therefore, we could see a move lower to 143.40 and maybe even 141.64 where this correction would have corrected 50% of the rally from 134.14 to 149.13. Short-term resistance at 148.25 should protect the upside for the continuation lower to 144.79.

Trading recommendation:

We are short in EUR from 147.97 and will move our stop lower to 148.35. If you are not short in EUR yet, then sell near 147.75 with the same stop at 148.35.

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 Elliott wave analysis of EUR/JPY for December 11 - 2014 . Thanks for your support.

Technical analysis and trading recommendation on Gold for December 11, 2014 Market Analysis Review

After a big gain, the metal faced resistance at $1,240.00. The metal made a double top at $1,237.90 and corrected a bit at yesterday's session. Ahead of the U.S. Federal Reserve's meeting next week, the metal is looking mildly strong. The Federal Open Market Committee will undertake a monetary policy review at a 2-day meeting next week on 16-17 December, 2014. The policy meeting will be keenly watched for any hints on the timing of the interest rates hike. Today, the focus has shifted to retail sales, core retail sales, and unemployment data. Today, the pair held the previous low and is trading in the marginal green. Gold has immediate resistance at $1,235.00, above this $1,237.90 and $1,240.00 will act as strong resistance levels. The safe buying will trigger above $1,240.00. The metal prices are taking support at $1,223.00 and $1,220.00. We recommend risk selling below $1,223.00 and safe selling below $1,220.00. In case if the prices fall below $1,220.00, we can expect panic towards $1,213.00 and $1,209.00. The hourly trading view still favours bears. The prices are trading and closed below 35DEMA on the H1 chart. In case if the prices close below $1,209.00, then bears will hold their grip towards $1,200.00. The trading pattern is framed between $1,237.90 and $1,224.30. Breakout of any side will provide further room to trade.

Strong momentum only above $1,240.00.

Double top is at $1,237.90.

Panic selling is below $1,209.00.

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 and trading recommendation on Gold for December 11, 2014 . Thanks for your support.

Technical analysis of EUR/USD for December 11, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Final CPI m/m, French CPI m/m, ECB Monthly Bulletin, Italian Industrial Production m/m, and Targeted LTRO. The US will publish a batch of macroeconomic reports as the Core Retail Sales m/m, Retail Sales m/m, Retail Sales m/m, Unemployment Claims, Import Prices m/m, Business Inventories m/m, Natural Gas Storage, and 30-y Bond Auction. So, amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2552.

Strong Resistance:1.2544.

Original Resistance: 1.2532.

Inner Sell Area: 1.2520.

Target Inner Area: 1.2490.

Inner Buy Area: 1.2460.

Original Support: 1.2448.

Strong Support: 1.2436.

Breakout SELL Level: 1.2428.

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 December 11, 2014 . Thanks for your support.

Technical analysis of USD/JPY for December 11, 2014 Market Analysis Review

In Asia, Japan will release the Core Machinery Orders m/m and Tertiary Industry Activity m/m. The US will publish a batch of economic reports such as Core Retail Sales m/m, Retail Sales m/m, Retail Sales m/m, Unemployment Claims, Import Prices m/m, Business Inventories m/m, Natural Gas Storage, and 30-y Bond Auction. 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: 118.70.

Resistance. 2: 118.47.

Resistance. 1: 118.24.

Support. 1: 117.96.

Support. 2: 117.73.

Support. 3: 117.49.

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 USD/JPY for December 11, 2014 . Thanks for your support.

Technical Analysis of GBP/USD for December 11, 2014 Market Analysis Review

IMPACT ON THE USD-

Today, the focus has shifted to retail sales, core retail sales, and unemployment data. The Chinese disappointing data supported the demand for the Yen and pushed the US dollar lower against most of the currencies. The Greece political instability and China's economy slowdown put pressure on the US dollar at the yesterday's session.

TECHNICAL VIEW

The pair rose notably at the previous session and managed to close above 20Dsma. The cable has intraday parallel resistances at 1.5726 and 1.5764 and weekly resistance at 1.5826. We recommend fresh intraday buying above 1.5726 with the targets at 1.5760 and 1.5800. The pair has support at 1.5725, 1.5690, and 1.5650. The selling pressure will emerge only below 1.5680. This bullish view is only for the near term. Today's US data can weigh the pair. Positive readings of the US reports can trigger selling pressure. We recommend selling below 1.5680 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 of GBP/USD for December 11, 2014 . Thanks for your support.

Review and intraday trading recommendations on EUR/USD for December 11, 2014 Market Analysis Review

IMPACT ON THE EURO-

The focus has shifted to today's major key event TLTRO result. In yesterday's French data again, it was disappointed we expected an uptick. French industrial output fell in October as the production of energy, agricultural and food products declined on the month, official data showed . Industrial production in the Euro zone's second largest economy fell 0.8% in October compared with September, the national statistics agency Insee said. On the jobs data it was also disappointed . In Q3 2014, payroll employment in principally market sectors decreased sharply by 0.3% q-o-q (-55,200 jobs), after a slight increase in the previous quarter as per agency Insee.

IMPACT ON THE USD-

Today the focus has shifted to retail sales, core retail sales and unemployment data. The Chinese concern supported the demand for the Yen, pushed the US dollar lower against most of the currencies.

TECHNCIAL VIEW

The pair rose strongly at the previous session and managed to close above 20Dsma. The pair closed at the highest level at the previous session. Yesterday, we recommended buying above 1.2400 with the targets at 1.2450, 1.2500, and 1.2530. Today, the pair made a high at 1.2450. We are still waiting patiently for the next targets higher. The pair has resistance at 1.2456, above this it can challenge 1.2500 and 1.2507. In case if the prices break out above 1.2507, it can extend its challenge towards 1.2525 and 1.2531. This bullish view is only for the near term. Today's US data can affect the pair. The support level exists at 1.2450, 1.2425, and 1.2400. We recommend selling below 1.2395 with the targets at 1.2360, 1.2340, and 1.2300. The longer-term picture still favour to the bears.

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 Review and intraday trading recommendations on EUR/USD for December 11, 2014 . Thanks for your support.

Daily analysis of major pairs for December 11, 2014 Market Analysis Review

EUR/USD: EUR/USD has been making attempts to go bullish this week. The movement this week has been bullish so far, and this has threatened the recent bearish outlook in the market. From the support line at 1.2250, price has gone upward by nearly 200 pips. A touch of the resistance line at 1.2500 would mean the end of the bearish outlook.

USD/CHF: This currency trading instrument has been making attempts to go bearish this week. The movement this week has been bearish so far, but it would not be said that the bullish bias is over unless price closes below the support level at 0.9600. Further weakness in the Greenback may bring about this expectation.

GBP/USD: The Cable has also gotten engaged in a slow and steady bullish run – something that has resulted in a new bullish bias. Slowly and steadily, price could reach the distribution territory at 1.5800, and this is something that would strengthen the novel bullish bias.

USD/JPY: The bias on USD/JPY has gone bearish and price is now trading below the supply level at 118.00. Further weakness in the market could take price to the demand level at 117.00, which is the next target for bears. Some fundamental figures are expected today and they would have impact on the markets.

EUR/JPY: So far this week, this cross has been trending downwards and this has resulted in a Bearish Confirmation Pattern on the chart. The EMA 11 has just crossed the EMA 56 to the downside and the RSI period 14 is below the level 50. The next target to be attained is the demand zone 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 Daily analysis of major pairs for December 11, 2014 . Thanks for your support.

Daily analysis of USDX for December 11, 2014 Market Analysis Review

On the H4 chart, the USDX has had a fairly strong bearish trend for several days, as this instrument is currently finding support at the 88.27 level. This area could serve as a strong support for the USDX, but remember that this instrument could be looking down to the support level of 87.93, which would be an approximation to the 200-day moving average. The MACD indicator remains in the negative territory.

Daily chart's resistance levels: 88.44 / 88.65

Dailychart's support levels: 88.19 / 87.93

The USDX found strong resistance at the 88.71 level, where the 200-day moving average is located on the H1 chart. Now, the USDX is trying to form a lower low pattern below the resistance level of 88.43. The nearest support is the level of 88.15 and if the USDX makes a breakout there, it would be expected to fall to the level of 87.86. The MACD indicator remains in the negative territory.

H1 chart's resistance levels: 88.43 / 88.71

H1 chart's support levels: 88.15 / 87.86

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 88.43, take profit is at 88.71, and stop loss is at 88.14.

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 Daily analysis of USDX for December 11, 2014 . Thanks for your support.

Daily analysis of GBP/USD for December 11, 2014 Market Analysis Review

The GBP/USD pair is conducting a breakout at the level of 1.5698, because this pair intends to go up to where the 200-day moving average is located on the H4 chart. This move is probably since the GBP/USD pair managed to consolidate above the bearish trend line that was putting pressure on the level of 1.5650. However, for the rest of the week, movements in a low range are expected.

H4chart's resistance levels: 1.5811 / 1.5874

H4chart's support levels: 1.5698 / 1.5589

On the H1 chart, the GBP/USD pair found dynamic support at the 200-day moving average after forming a bullish pattern above the support level of 1.5632. Technically, the GBP/USD pair could rise to the resistance level of 1.5739. However, the bearish outlook is still valid for this pair as on higher charts, GBP/USD is below the 200-day moving average.

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 1.5739.

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 December 11, 2014 . Thanks for your support.

USDCAD Daily Analysis - December 11, 2014 Forex Analysis

USDCAD remains in uptrend from 1.1191. Further rise would likely be seen, and next target would be at 1.1600 area. Support is at 1.1365, only break below this level will signal completion of the uptrend, then deeper decline to 1.1200 area could be seen.

For more short term forex analysis and info visit via USDCAD Daily Analysis - December 11, 2014 . Thanks for your support.

USDCHF Daily Analysis - December 11, 2014 Forex Analysis

USDCHF broke below 0.9646 support, indicating that the uptrend from 0.9531 had completed at 0.9817 already. Deeper decline would likely be seen, and the target would be at 0.9550 area. Resistance levels are at 0.9725 and 0.9817, only break above these levels could trigger another rise towards 1.0000.

For more short term forex analysis and info visit via USDCHF Daily Analysis - December 11, 2014 . Thanks for your support.

USDJPY Daily Analysis - December 11, 2014 Forex Analysis

USDJPY is facing 117.23 support, as long as this level holds, the fall from 121 .84 could be treated as consolidation of the uptrend from 105.32 (Oct 15 low), range trading between 117.23 and 121.84 would likely be seen over the next several days.

For more short term forex analysis and info visit via USDJPY Daily Analysis - December 11, 2014 . Thanks for your support.

AUDUSD Daily Analysis - December 11, 2014 Forex Analysis

AUDUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8000 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

For more short term forex analysis and info visit via AUDUSD Daily Analysis - December 11, 2014 . Thanks for your support.

GBPUSD Daily Analysis - December 11, 2014 Forex Analysis

GBPUSD's rise from 1.5541 extended to as high as 1.5756. Range trading between 1.5541 and 1.5825 could be seen over the next several days. As long as 1.5825 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.6182 (Oct 28 high), another fall towards 1.5000 is still possible after consolidation.

For more short term forex analysis and info visit via GBPUSD Daily Analysis - December 11, 2014 . Thanks for your support.

EURUSD Daily Analysis - December 11, 2014 Forex Analysis

EURUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.2599 had completed at 1.2247 already. Range trading between 1.2247 and 1.2599 would likely be seen over the next several days.

For more short term forex analysis and info visit via EURUSD Daily Analysis - December 11, 2014 . Thanks for your support.

Technical analysis of USD/JPY for December 10, 2014 Market Analysis Review

Fundamental overview:

USD/JPY is expected to consolidate with bearish bias after hitting a six-day low of 117.90 on Tuesday. It is undermined by the selling of the yen crosses amid diminished risk appetite (VIX fear gauge rose 4.79% to 14.89, S&P 500 fell as low as 2,034.17 overnight before closing roughly flat at 2,056.59 versus the previous close of 2,060.31) as investor sentiment soured after China on Tuesday unexpectedly tightened credit conditions to rein in lending, triggering a 5.31% plunge in Shanghai Composite for sharpest fall in five years. At the same time, the fears over the integrity of the European monetary union were reignited after the Greek Prime Minister Antonis Samara moved forward a high-stakes parliamentary vote for president. USD/JPY is also weighed by the lower U.S. Treasury yields (10-year at 2.216% versus 2.257% late Monday) and broadly weaker USD undertone (ICE spot dollar index last 88.67 versus 89.10 early Tuesday) and Japan's export sales. But USD sentiment is soothed by the stronger-than-expected rise in the USA NFIB index of small business optimism to 98.1 in November from 96.1 in October (versus forecast 96.5) and bigger-than-expected 0.4% increase in the USA October wholesale inventories (versus forecast +0.3%), the rise in the USA IBD/TIPP economic optimism index to 48.4 in December from 46.4 in November. USD/JPY losses are also tempered by the demand from the Japanese import and Bank of Japan's large-scale monetary easing policy.

Technical comment:
the daily chart is tilting negative as the MACD histogram bars are turned negative, stochastics is falling from overbought levels, bearish parabolic stop-and-reverse signal was hit on Tuesday.

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 positions are recommended with the first target at 117.90. A break of this target will move the pair further downwards to 117.40. The pivot point stands at 119.55. 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 120.10 and the second target at 120.50.

Resistance levels:

120.10

120.50

120.75

Support levels:

117.90

117.40

117

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 December 10, 2014 . Thanks for your support.

Technical analysis of USD/CHF for December 10, 2014 Market Analysis Review

Fundamental overview:

USD/CHF is expected to consolidate with bearish bias after hitting three-day low 0.9652 on Tuesday. CHF sentiment is boosted by the lower-than-expected Switzerland November unemployment rate of 3.1% (versus forecast 3.2%). USD/CHF is also undermined by the broadly weaker USD undertone. But USD/CHF downside is limited by the franc sales on soft CHF/JPY cross and ultra-loose Swiss National Bank's monetary policy.

Technical comment:

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

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 positions are recommended with the first target at 0.9705. A break of this target will move the pair further downwards to 0.9675. The pivot point stands at 0.9735. 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 0.9770 and the second target at 0.9795.

Resistance levels:

0.9770

0.9795

0.9820

Support levels:

0.9705

0.9675

0.9635

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 December 10, 2014 . Thanks for your support.

Technical analysis of NZD/USD for December 10, 2014 Market Analysis Review

Fundamental overview:

NZD/USD is expected to consolidate with bullish bias after hitting two-and-a-half-year low of 0.7606 on Tuesday as the market awaits 20:00 GMT (Thursday 9 a.m. NZ time) the Reserve Bank of New Zealand's interest rate decision. The RBZ is expected to keep its policy rate at 3.5%. The kiwi sentiment is dented after Fonterra lowered its payout to dairy farmers from the previous forecast of NZ$5.30 to NZ$4.70. NZD/USD is also weighed by the kiwi sales on soft NZD/JPY cross amid reduced investor risk appetite. But NZD/USD losses are tempered by the broadly weaker USD undertone and NZD/USD interest differential.

Technical Comment:

The daily chart is negative-biased as the MACD is bearish, stochastics stays suppressed at the oversold levels, five-day moving average is below 15-day moving average and is declining.

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 0.7770 and the second target at 0.7820. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.7610. A break of this target would push the pair further downwards and one may expect the second target at 0.7565. The pivot point is at 0.7660.

Resistance levels:

0.7770

0.7820

0.7860



Support levels:
0.7610

0.7565

0.7525

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 December 10, 2014 . Thanks for your support.

Technical analysis of GBP/JPY for December 10, 2014 Market Analysis Review

Fundamental overview:

GBP/JPY is expected to consolidate with risks skewed lower. It is undermined by the reduced investor risk appetite and Japan's export sales. But GBP/JPY losses are tempered by the demand from the Japanese importers. But sterling sentiment is dented by a sudden 0.1% monthly drop in the UK October industrial production (versus forecast +0.2%) and a surprise 0.7% monthly fall in the UK October manufacturing output (versus forecast +0.2%).

Technical comment:

Daily chart is tilting negative as MACD is in bearish mode, stochastics is turning 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 185.75 and the second target at 185.10. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 188.45. A break of this target would push the pair further downwards and one may expect the second target at 189.20. The pivot point is at 187.85.

Resistance levels:

188.45

189.20

189.75

Support levels:

185.75

185.10

184.75

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 December 10, 2014 . Thanks for your support.

Intraday technical levels and trading recommendations on GBP/USD for December 10, 2014 Market Analysis Review

Overview:

The GBP/USD pair has been moving downward respecting the depicted bearish channel since mid-September when the ongoing channel was initiated. Many bearish impulses were previously initiated around 1.6450, 1.6170, and 1.5940 where the upper limit of the channel came to meet the pair.

The price zone of 1.5890-1.5870 constituted a transient daily support that paused the bearish movement for a few days. However, bears quickly managed to push lower.

Bullish fixation above 1.5890-1.5900 was essential to maintain the bullish scenario. However, bears have failed to do so. Instead, the market pushed towards support level located around 1.5600 where the lower limit of the ongoing channel was previously located.

The GBP/USD pair looked quite oversold. Bullish correction was anticipated as the pair has tested a prominent WEEKLY support (price level of 1.5600) corresponding to multiple previous tops established back in May and June 2013.

On the other hand, a break below the recent bottom around 1.5580 invalidates this bullish scenario and renders the current consolidation range as a bearish flag pattern with projected target at 1.5410.

Trading recommendations:

As anticipated, a previous valid BUY opportunity was suggested at retesting of the same price level of 1.5600. This position was running in profit until bearish pullback took place towards entry levels again.

TP levels should be set at 1.5760, 1.5820 and 1.5880.

On the other hand, a low risk SELL entry will probably be offered around 1.5880-1.5940 ( Important Fibonacci Levels and slightly above the upper limit of the depicted bearish channel ).

Stop Loss should be located just above 1.5950.

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 Intraday technical levels and trading recommendations on GBP/USD for December 10, 2014 . Thanks for your support.

Intraday technical levels and trading recommendations on GBP/USD for December 10, 2014 Market Analysis Review

The GBP/USD pair was trapped between 1.6100 and 1.5890 for almost 20 days before bearish breakout could take place.

Daily fixation below 1.5870 led bearish pressure to the pair so that it reached 1.5620-1.5650 where a prominent consolidation zone was established above.

This week, the GBP/USD pair is finding intraday DEMAND around 1.5580-1.5550 where many recent lows were previously established back in November.

The current DAILY price action favors the bullish scenario initially towards 1.5800.

Monday's bullish engulfing daily candlestick emerged off 1.5550 where the backside of the broken downtrend is located. However, yesterday's daily - Doji - candlestick reflects indecision at the important levels which may give some time for more sideway movement.

4H chart reveals the recent downside movement maintained within the limits of the depicted channel.

Conservative traders were waiting for a bullish pullback towards the price zone of 1.5680-1.5710 for a low-risk SELL entry. Stop Loss should be located at 1.5740.

On the other hand, an obvious 4H fixation below the triple-bottom price zone (1.5600 - 1.5590 ) indicates an upcoming bearish movement towards 1.5480-1.5500 where the lower limit of the current movement channel is located.

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 Intraday technical levels and trading recommendations on GBP/USD for December 10, 2014 . Thanks for your support.

Intraday technical levels and trading recommendations on EUR/USD for December 10, 2014 Market Analysis Review

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

A bearish breakout off the bullish channel took place soon, thus confirming a flag continuation pattern. Bearish projected target was already reached around 1.2490.

As anticipated earlier, daily fixation below 1.2490-1.2500 (the origin of the previous bullish swing expressed one month ago) extends the bearish targets towards the price level of 1.2200.

After the bears could fixate below 1.2360 this week, the EUR/USD pair is showing bullish recovery again above it due to the lack of bearish pressure below 1.2255.

Yesterday's daily candlestick spiked up to 1.2446. However, the market came back to close at 1.2373. It could be a sign of indecision about a possible bullish breakout off the upper limit of the depicted movement channel.

Price level of 1.2200 remains the projected target of the current bearish flag pattern as long as 1.2360-1.2390 remains defended by the EUR/USD bears.

The bearish flag scenario should now be considered for the long-term positions. Bears should be looking for a solid SUPPLY ZONE to SHORT the EUR/USD pair again.

A double-top pattern was expressed last week on the 4H chart around 1.2500. As anticipated, fixation below neckline (price level of 1.2430) enhanced the bearish trend on the market.

Fixation below the recently broken bottom around 1.2390 is mandatory to maintain the current bearish momentum towards 1.2200. Some signs of bearish rejection are being expressed today.

Moreover, the EUR/USD pair has a bearish projected target (the flag pattern) roughly located around price level of 1.2200 where the lower limit of the depicted 4H channel is also located.

Trade recommendations:

Intraday traders can SHORT the pair anywhere around 1.2410 -1.2450 (prominent Fibonacci Levels). Stop Loss should be set at a four-hour closure above 1.2470.

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 Intraday technical levels and trading recommendations on EUR/USD for December 10, 2014 . Thanks for your support.

Intraday technical levels and trading recommendations on USD/CAD for December 10, 2014 Market Analysis Review

Overview:

Three months ago, the price levels around 1.0620 (around the lower limit of the depicted chart) initiated the current strong uptrend.

Recently, bulls were pushing towards the upper limit of the movement channel (1.1370) in mid-October. Immediate bearish rejection was expressed resulting in a bearish correction towards 1.1200.

4H fixation below 1.1230 - 1.1210 (50% Fibonacci level) temporarily allowed bears to push towards 1.1100 (the lower limit of the bullish channel), where extensive bullish support was offered.

Recently, bulls have pushed further above the price level of 1.1400. However, the upper limit of the movement channel was located around 1.1470 where the bearish rejection was applied.

As anticipated, the bullish breakout above 1.1440 is important to push towards 1.1550 where the upper limit of the ongoing bullish channel is located.

During the past few weeks, the USD/CAD pair established a recent SUPPORT zone around 1.1430-1.1330, breakout above which allowed the bulls to reach a new high around 1.1495.

Price zone of 1.1430-1.1460 is a key zone for today's movement. Persistence above it signals the bullish tendency towards 1.550 initially. Otherwise, another bearish correction towards 1.1400 should not be excluded.

Trading recommendations:

Risky traders can LONG the USD/CAD pair after the market expresses 4H closure above the price level of 1.1450 (it is a high risk position).

Conservative traders still can SHORT the pair around the current prices with Stop Loss at daily closure above 1.1470. Targets would be located around 1.1310 and 1.1230.

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 Intraday technical levels and trading recommendations on USD/CAD for December 10, 2014 . Thanks for your support.

Analysis of EUR/NZD for December 10, 2014 Market Analysis Review

Overview:

In our last analysis, EUR/NZD was trading downwards. As we expected, the price tested the level of 1.6026 in an average volume. Our Fibonacci expansion 100% at the price of 1.6145 held successfully, and it made price start with downward movement. I placed Fibonacci retracement to find potential support level and I got Fibonacci retracement 38.2% at the price of 1.5960 and Fibonacci retracement 61.8% at the price of 1.5840. According to the 4H time frame, we can observe lack of demand around the price of 1.6150. So, be careful when buying and watch for potential selling opportunities. Any larger supply may confirm a further bearish phase.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.6150

R2: 1.6180

R3: 1.6230

Support levels:

S1: 1.6051

S2: 1.6021

S3: 1.5971

Trading recommendations: Be careful when buying the EUR/NZD pair since we got rejection from our resistance level 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 Analysis of EUR/NZD for December 10, 2014 . Thanks for your support.

Analysis of gold for December 10, 2014 Market Analysis Review

Overview :

Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of 1,238.09 in a volume above the average. Our Fibonacci expansion 100% at the price of 1,186.00 is broken so we may expect potential testing of the level of 1,255.00-1,265.00. My advice is to look for buying opportunities near the lows (after retracement). According to the 4H time frame, we finished the bearish corrective phase abcd, and we can observe a weak supply on the market.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,238.59

R2: 1,247.91

R3: 1,263.00

Support levels:

S1: 1,208.41

S2: 1,199.09

S3: 1,184.00

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 Analysis of gold for December 10, 2014 . Thanks for your support.

Technical analysis of NZD/USD for December 10, 2014 Market Analysis Review

Forecast :

• According to the previous events, the price of the NZD/USD pair is still moving between 0.7766 and 0.7661.


• The level of 0.7761 represents the double top, and the weekly resistance 1 is set at the same level.


• Consequently, sell below the price of 0.7766 in the short term with the first target at 0.7660, it might resume to 0.7610 if the trend can break the support at 0.7660.

Notes :

• The double top will set at the level of 0.7761.


• The major support is going to set at 0.7609.


• The minor support has set at the price of 0.7660.


• The price hit the weekly pivot point and the support 1 this week.


• We expect a range of 69 pips today.

Intraday technical levels :

• Projected high: 1.7821


• Breakout (buy stop): 1.7771


• Strong resistance (sell limit): 0.77


• Current pivot: 0.7709


• Strong support (buy limit): 0.7609


• Breakout (sell stop): 0.7600


• Projected low: 0.7562

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 December 10, 2014 . Thanks for your support.

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

Overview :

• The weekly pivot point of the EUR/USD pair has set at the level of 1.2353. Also, the daily pivot point set at the same price for December 10, 2014. Consequently, the market has still been calling for downward because the price set below the weekly resistance 1 at 1.2436 since yesterday. Accordingly, if the trend fails to close above the level of 1.2436, then it will be a good opportunity to sell below the weekly resistance 1 with the first target at 1.2353 (this level is going to represent the weekly support 1). Then it will be continued in downtrend towards 1.2246 in order to test the double bottom. On the other hand, the stop loss should always be taken into account because it should never exceed your maximum exposure amounts. As a result, the best location to set your stop loss should be placed above the double top at the level of 1.2450 (78.6% of Fibonacci retracement 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 of EUR/USD for December 10, 2014 . Thanks for your support.

#USDX technical analysis for December 10, 2014 Market Analysis Review

Black line = support

Blue line = resistance

The index remains inside the upward sloping channel. Short-term support is at 88.50 and short-term resistance is at 88.85. The decline from 89.50, I believe, is corrective and we could see a new higher high towards 91 as per our bullish flag pattern. Bulls, I believe, have not said their last word yet.

On a weekly basis, the Dollar index remains bullish, although, the double top is not a good sign. If at the end of the week we see this red candle much smaller than it is today, it will be a bullish signal implying that bulls continue to support the trend. However, if the week ends with a candle like this, then we should be very carefull for the next week as this could mean the end of the up trend from 79.75.

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 December 10, 2014 . Thanks for your support.

Gold technical analysis for December 10, 2014 Market Analysis Review

Gold price broke above resistance levels at $1,208-10 yesterday and gave a buy signal. Gold price reached our first target at $1,240 by making a high at $1,239. Short-term support is at $1,225 and at $1,215. This upward move could continue towards $1,260 if support levels are held.

Red line = support

Blue line = trend support

Gold price is making higher highs and higher lows. Price made a double top and it could signal a move towards short-term support at $1,225. If this support is broken we could see a push towards $1,215 where the rising trend line is found. $1,240 is an important resistance and if it is broken we could see an upward extension towards $1,260-70.

Gold price has broken above the Ichimoku cloud and is now back testing the breakout area. The pullback inside the cloud will be a bearish sign as it will mean that the breakout was fake. Important bullish support is at $1,185. Breaking below this level will signal the end of the upward bounce and the start of a new downward move towards new 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 technical analysis for December 10, 2014 . Thanks for your support.

Technical analysis of EUR/JPY for December 10, 2014 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair dipped into the immediate trend line support as seen here, around 147.00 levels. Please note that the pair has not yet broken the trend line and still remains in the buy zone, hence recommendations are to remain long with risks at 146.50 levels for now. The bulls are still in control and rally could resume taking the pair higher towards 150.80 and 151.80 levels respectively. Also note that the pair has been supported by fibonacci 0.618 at 147.20, of the rally between 145.50 to 149.80 levels. Immediate support is at 146.50 levels, followed by 145.50, while resistance is seen at 149.70/80 levels respectively.

Trading recommendations:

Remain long for now, stop at 146.50, the target is open.

Good luck!

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 December 10, 2014 . Thanks for your support.

Technical analysis of GBP/CHF for December 10, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair dropped towards 1.5150 levels before pulling back sharply yesterday. The pair is currently trading at 1.5210/20 levels and it is recommended to exit short positions and remain flat for a while. Please note that the pair remains well supported by the rising trend line around 1.5175 levels. Furthermore, past resistance turned support zone and fibonacci support levels are seen to be passing through the same levels. A bullish follow through now, could bring back bulls into action and the pair might be headed towards 1.5450 levels at least. Immediate support is at 1.5075 levels while resistance is seen at 1.5350 (interim), followed by 1.5450 respectively.

Trading recommendations:

Exit short positions at market and remain flat. Aggressive trade setup would be to initiate long positions, stop at 1.5100, the target is open.

Good luck!

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/CHF for December 10, 2014 . Thanks for your support.

Technical analysis of USD/CAD for December 10, 2014 Market Analysis Review

General overview for 10/12/2014 06:50 CET

The black impulsive count has been invalidated due to wave one and wave four overlaps, but there is still a possibility of a leading diagonal in wave 1 black as long as the level of 1.1339 is not violated. The most important level for further impulsive wave progression is the intraday resistance at the level of 1.1460 and only a clear breakout higher above this level puts bulls back to control. Otherwise, the market might fall even deeper and the alternative count, labeled as alt: (a), (b) blue so far will be in play then.

Support/Resistance:

1.1579 - WR2

1.1519 - WR1

1.1500 - Intraday Resistance

1.1460 - Intraday Resistance|Key Level|

1.1416 - Weekly Pivot

1.1396 - Intraday Support

1.1357 - WS1

1.1339 - Leading Diagonal Invalidation Level

Trading recommendations:

The SL from yesterday's buy trades has been hit and currently there is no active open orders. Please remember that the uptrend is still intact and swing traders still should consider buying the dips as the market has to complete more waves to the upside. Only a sustained breakout below the level of 1.1189 invalidates the mid-term bullish outlook.

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 December 10, 2014 . Thanks for your support.

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

Technical outlook and chart setups:

Gold has pushed through resistance at $1,235.00 levels yesterday. Bulls are now poised to take out $1,255.00 resistance before a meaningful pullback can take place. It is recommended to remain flat for now and enter long after the expected pullback. Aggressive trade setup would be to initiate long positions, with risk at $1,219.00, targeting above $1,255.00 levels. Immediate support is seen at $1,220.00 (interim), followed by $1,190.00, $1,145.00 and $1,130.00 while resistance is seen at $1,255.00, followed by $1,295.00 and higher respectively. Bulls are in control for now and poised to take out $1,255.00 at least.

Trading recommendations:

Remain flat and await a meaningful pullback to enter long.

Good luck!

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 Gold for December 10, 2014 . Thanks for your support.

Technical analysis of EUR/JPY for December 10, 2014 Market Analysis Review

General overview for 10/12/2014 06:30 CET

The green impulsive count has been canceled due to wave one and wave four overlaps and now an alternate count is in play. In this count, the general idea is a little more complex wave developing in a corrective cycle labeled as waves WXY brown of a wave 2 red. Currently, this cycle has got back into the yellow neutral zone and further downward progression is expected. The first level of support is the yesterday's big candle shadow bottom at the level of 146.76, but if it is violated, the market should fall event further to the level of 145.70. Only a sustained breakout above the level of 148.32 would change the bearish outlook.

Support/Resistance:

151.04 - WR1

149.76 - Technical Resistance

149.00 - Weekly Pivot

148.32 - WS1|Key Level|

147.53 - Intraday Resistance

146.79 - Intraday Support

146.34 - WS2

Trading recommendations:

The sell orders from the level of 147.37 should be still kept open and traders are welcome to add to the shorts at any price between this level and the level of 148.32.. SL orders should be placed above the level of 148.33 and TP orders should be placed at the level of 146.34 with a possible extension downward to the level of 145.70.

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 December 10, 2014 . Thanks for your support.

Technical Analysis of GOLD for December 10, 2014 Market Analysis Review

The risk appetite supported the yellow metal to regain its safe haven status. The metal soared to the nearest resistance at $1,240.00. The unexpected decision of the Greek government strongly impacted on the USD on a negative side. However, China's CPI data released today again came out below expectations, this leads to bring back the US dollar as a safe haven asset. Now, the focus has shifted to the technical resistance at $1,240.00 ahead of the tomorrow’s US data. A positive readings may push automatically the metal prices towards the South.

The precious metal has intraday key level at $1,226.00. We recommend selling below $1,226.00 with the targets at $1,221.00 and $1,216.00. The intraday support exists at $1,215.00 and $1,205.00. Bulls will try hard to hold their grip, until the prices are trading above $1,205.00 and 34hrsma. The technical indicators (hourly moving averages) favor bulls.

Intraday - Key support level at $1,205.00.

Hourly - Key support level at $1,226.00.

On the daily chart, the yellow metal managed to close above 7-month descending trend line. The metal can challenge $1,255.00 in case if the prices break $1,240.00 on the higher side.

0 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 GOLD for December 10, 2014 . Thanks for your support.