Technical analysis of EUR/USD for January 05, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as Sentix Investor Confidence, Spanish Unemployment Change, and German Prelim CPI m/m.The US will release its Total Vehicle Sales data as well. So amid the reports, EUR/USD will move low volatility during this day.

Today's technical levels:

Breakout BUY Level: 1.2020.

Strong Resistance:1.2013.

Original Resistance: 1.2001.

Inner Sell Area: 1.1989.

Target Inner Area: 1.1961.

Inner Buy Area: 1.1933.

Original Support: 1.1921.

Strong Support: 1.1909.

Breakout SELL Level: 1.1902.

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

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Technical analysis of USD/JPY for January 05, 2015 Market Analysis Review

In Asia, Japan will release its Final Manufacturing PMI figures and the US will release its Total Vehicle Sales data. So there is a big probability the USD/JPY pair will move with low volatility during the day.

Today's technical levels:

Resistance. 3: 120.90.

Resistance. 2: 120.67.

Resistance. 1: 120.43.

Support. 1: 120.14.

Support. 2: 119.91.

Support. 3: 119.67.

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

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Elliott wave analysis of EUR/JPY for January5 - 2015 Market Analysis Review

Technical summary:

We have seen a low at 142.88. In the short term we expect minor resistance at 144.12 to protect the upside for the next decline towards 142.44 to end wave y and possibly wave (ii). Only a direct break above 144.12 and more importantly a break above resistance at 144.65 will indicate that wave y already has finished and a new rally towards at 145.57 in a new x-wave. Only a break above 146.42 will confirm that the correction in wave (ii) is over and wave (iii) higher is developing.

Trading recommendation:

We are short EUR from 145.90 and will move our stop lower to 144.70 and take profit at 142.55. If you are not short EUR yet, then sell it near 144.12 with a stop at 144.70 and take profit at 142.55

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Elliott wave analysis of EUR/NZD for January 5 - 2015 Market Analysis Review

Technical summary:

The correction from 1.5472 has turned into an expanded flat correction and with the test of 1.5679 no more correction is needed, but to confirm that the correction is over, a break below 1.5572 is needed and a break below this support will confirm a new test of support at 1.5439 on the way towards strong support at 1.5407. Only an unexpected break above 1.5724 will confuse the picture and call for a continuation higher towards strong resistance at 1.5849.

Trading recommendation:

We sold EUR at 1.5620 and has placed our stop at 1.5725. If you are not short EUR yet, then sell near 1.5679 with the same stop at 1.5725.

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Technical analysis of GBP/CHF for January 05, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has dropped lower into the 1.5300 levels, breaking the immediate support trendline as seen here. At the moment, the pair has bounced off the past resistance turned support around 1.5275/1.5300 levels. A bullish reversal here has got potential to take prices on to fresh highs at 1.5620 levels at least, if not further. Immediate support is seen at 1.5250, followed by 1.5070, 1.5000 and lower, while resistance is seen at 1.5525. It is recommended to remain flat for a while and watch out for a reaction at the back side of the trend line which is resistance now.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of silver for January 05, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver has yet again bounced off the support region around $15.50 levels as expected last week. The metal is currently trading at sub $16.00 levels and is poised to rally beyond $16.50 as immediate short-term target. Immediate support is seen at $15.50 (interim), followed by $14.50 and lower while resistance is seen at $16.40/50, followed by $17.20/30, $17.40/50, $17.80/18.00 and higher respectively. As discussed earlier, silver might have carved a right shoulder of a potential inverted head and shoulder reversal at $15.50 levels. If this structure holds true, the metal will rally past $18.00 and $23.00 levels pretty soon.

Trading recommendations:

Remain long, stop at $14.25, target is open.

Good luck!

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Weekly technical levels for EUR/USD for January 5-9, 2015 Market Analysis Review

Weekly technical levels of the EUR/USD pair.

Trading recommendations :

• According to the previous events, the price of EUR/USD is going to move between the levels of 1.2000 and 1.1860. The level of 1.2000 is representing the double bottom and coinciding with the ratio of 00% Fibonacci retracement levels in H1 chart.


• Sell below the level of 1.2195 which represents the minor resistance in H1 chart with the first target at 1.1920. Then, the trend will be able to continue towards the level of 1.1855 in order to form a new double bottom. Also, it should be noted that the weekly support 1 coincides with the price of 1.1854. Nevertheless, the stop loss should be set at the level 1.2028.

Notes :

• We expect a range about 248 pips this week.


• The risk of 62 pips must make a profit of 248 pips.


• The value of 00% Fibonacci retracement levels is 1.2000.


• The weekly pivot point will be set at the price of 1.2074.


• The level of 1.2074 will confirm the bullish market.

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Weekly technical levels for GBP/USD for January 5-9, 2015 Market Analysis Review

Weekly technical levels for the GBP/USD pair in the new year of 2015.

Review :

• The key level is likely to set at the level of 1.5326. Also, it should be noted that the level of 1.5326 represents the double bottom.


• The support of the GBP/USD pair has already set at 1.5131.


• Moreover, the weekly support 2 will set at the same level and support 1 is placed at 1.5228. If the trend fails to close below the level of 1.5326, it will be a good opportunity to sell below 1.5326 with the first target at 1.5230. Then it is seen to continue straight towards 1.5135 in the coming days.


• So, we expect a new range about 210 pips this week.


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

Technical levels :

• It should be noted that the price is seen to be moving between 1.5326 and 1.5135 today.


• Projected high: 1.5326


• Strong resistance (sell limit): 1.5320. Resistance will be at 1.5320/1.5326.


• Current pivot: 1.5227


• Breakout (sell stop): 1.5228. Support will be set at the price of 1.5228.


• Projected low: 1.5131

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USDCAD Daily Analysis - January 5, 2015 Forex Analysis

USDCAD's upward movement from 1.1191 extended to as high as 1.1841. Further rise could be expected after a minor consolidation, and next target would be at 1.2000 area. Support is at 1.1750, as long as this level holds, the uptrend will continue.

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USDCHF Daily Analysis - January 5, 2015 Forex Analysis

USDCHF's upward movement from 0.9553 extended to as high as 1.0187. Further rise could be expected after a minor consolidation, and next target would be at 1.0300 area. Support is at 0.9950, as long as this level holds, the uptrend will continue.

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USDJPY Daily Analysis - January 5, 2015 Forex Analysis

USDJPY is facing 120.82 resistance, a break of this level will signal resumption of the uptrend from 115.56, then next target would be at 125.00 area. Support is at 118.85, only break below this level could trigger another fall to 115.00 area.

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AUDUSD Daily Analysis - January 5, 2015 Forex Analysis

After consolidation, AUDUSD continued its downward movement from 0.8795 (Nov 17, 2014 high), and the fall extended to as low as 0.8052. Key resistance is now at 0.8214, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.7900 area. Only break above 0.8214 resistance could signal completion of the downtrend.

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GBPUSD Daily Analysis - January 5, 2015 Forex Analysis

GBPUSD's downward movement from 1.5785 extended to as low as 1.5167. Further decline could be expected after a minor consolidation, and next target would be at 1.5000 area. Resistance is at 1.5380, as long as this level holds, the downtrend will continue.

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EURUSD Daily Analysis - January 5, 2015 Forex Analysis

EURUSD's downward movement from 1.2569 extended to as low as 1.1861. Further decline could be expected after a minor consolidation, and next target would be at 1.1700 area. Resistance is at 1.2050, as long as this level holds, the downtrend will continue.

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