Technical analysis of GBP/CHF for January 14, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has pushed higher to 1.5475 levels as seen on the 4H chart view depicted here, just shy of the interim resistance at 1.5520 levels. It is recommended to book profits on long positions now and remain flat for a while. Aggressive traders might look to initiate 50% short positions at current price, risk remains at 1.5530 levels. The pair might dip lower below 1.5250 levels, forming a gartley, before resuming the uptrend. A break below 1.5350 would surely confirm the probability of pushing lower into 1.5200 levels. Immediate support is seen at 1.5350 levels, followed by 1.5250 and lower, while resistance is seen at 1.5520 levels respectively.

Trading recommendations:

Book profits on long positions and remain flat. Aggressive trade setup could be to initiate 50% short positions, stop at 1.5530, the target is at 1.5200.

Good luck!

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Technical analysis of Silver for January 14, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver reached $17.20 levels before pulling back again towards $16.80 levels as seen on the 4H chart view depicted here. The metal should be well supported around $16.50/60 levels as immediate trend line support and past resistance turned support is around the same region. Immediate price support is seen at $16.20 levels, followed by $15.50, $14.50 and lower while resistance is seen at $17.40/50, followed by $17.80/18.00 and higher respectively. Bulls seem to be in control for now and hence it is recommended to hold earlier long positions while also looking to add up further on dips. The metal should print higher highs till $15.50 levels remain intact.

Trading recommendations:

Remain long and add on dips, stop at $14.50, the target is open.

Good luck!

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Technical analysis of Gold for January 14, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold had hit $1,244.00 levels during early hours today before pulling back lower. Please note that the metal has hit minimum expected targets as depicted here (red lines). A pullback lower is expected towards $1,205.00/10.00 levels, before the rally resumes. It is recommended to remain flat and loon to buy around $1,210.00 levels, risk remains at $1,170.00 for now. Immediate support is seen at $1,210.00/05.00 levels, followed by $1,170.00, $1,143.00 and lower while resistance is seen at $1,255.00 and higher respectively. Bulls should remain in control till prices remain above $1,170.00 for now.

Trading recommendations:

Buy around $1,210.00/05.00, stop below $1,170.00, the target is open.

Good luck!

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Technical analysis of EUR/USD for January 14, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as German 10-y Bond Auction, Industrial Production m/m, and French CPI m/m. The US will publish the economic data too such as the Beige Book, 30-y Bond Auction, Crude Oil Inventories, Business Inventories m/m, Import Prices m/m, Retail Sales m/m, and Core Retail Sales m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1826.

Strong Resistance:1.1819.

Original Resistance: 1.1808.

Inner Sell Area: 1.1797.

Target Inner Area: 1.1769.

Inner Buy Area: 1.1741.

Original Support: 1.1730.

Strong Support: 1.1719.

Breakout SELL Level: 1.1712.

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 14, 2015 Market Analysis Review

In Asia, Japan will release the Prelim Machine Tool Orders y/y, 30-y Bond Auction, and M2 Money Stock y/y. The US will publish some economic reports such as Beige Book, 30-y Bond Auction, Crude Oil Inventories, Business Inventories m/m, Import Prices m/m, Retail Sales m/m, and Core Retail Sales m/m. So there is a big probability the USD/JPY pair will move with low to medium volatility during the Asian day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 118.10.

Resistance. 2: 117.88.

Resistance. 1: 117.65.

Support. 1: 117.36.

Support. 2: 117.14.

Support. 3: 116.90.

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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Daily analysis of USDX for January 14, 2015 Market Analysis Review

The USDX continues to remain above the bullish trend line at the level of 92.20. On the H4 chart, we can see that this instrument could not overcome the barrier set by the resistance level of 92.62. Therefore, the bullish bias has not caught momentum in recent days, although this is normal, as the USDX had gained much bullish ground in recent weeks.

H4chart's resistance levels: 92.62 / 94.25

H4chart's support levels: 92.10 / 91.62

On the H1 chart, the USDX has consolidated again above the support level of 92.08, so the closest target in the short term remains the resistance level of 92.51. As a result, the USDX is forming a higher high pattern to gain more positions this week, due to the release of US NFP data during the session last Friday.

H1 chart's resistance levels: 92.51 / 92.92

H1 chart's support levels: 92.08 / 91.66

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 92.51, take profit is at 92.91, and stop loss is at 92.08.

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Daily analysis of GBP/USD for January 14, 2015 Market Analysis Review

On the H4 chart, the GBP/USD pair still finds strong pressure on the bearish trend line that is located near the 1.5148 level. Now, the GBP/USD pair could concentrate forces for a strong breakout at the 1.5150 level. If it succeeds, this pair is likely to get consolidated in the bullish bias above the level of 1.5235 in the medium term.

H4chart's resistance levels: 1.5341 / 1.5485

H4 chart's support levels: 1.5148 / 1.5017

The GBP/USD pair continues to move in a low range between 1.5198 and 1.5110. So, many traders exercise caution and keep away from trading within this area because of a high trading volume. GBP/USD has no clear trend in the short term. The MACD indicator is entering the neutral territory.

H1 chart's resistance levels: 1.5198 / 1.5249

H1 chart's support levels: 1.5146 / 1.5110

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 1.5146, take profit is at 1.5110, and stop loss is at 1.5183.

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Technical analysis of EUR/USD for January 14, 2015 Market Analysis Review

Trading recommendations :

• The support of the EUR/USD pair has set at the price of 1.1856 and this price coincides with the weekly pivot point.


• The first key level will set at the level of 1.1856 and the second key level will set at 1.1805 today.


• Moreover, it should be noted that the area between 1.1805 and 1.1737 represents strong support on H1 chart.


• Equally important, the price of the EUR/USD pair is still moving between 1.1788 and 1.1742.


• Additionally, it should be noticed that the range was about 222 pips last week, but we expect a large range around 300 pips this week.


• Furthermore, the trend was very clear and indicating a downward bias. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.1856 or 1.1805.


• As a result, sell at the price of 1.1856 or 1.1805 with the first target of 1.1760, it might resume to 1.1753 in order to test the double bottom.


• The level of 1.1666 will act as strong support in coming days.
  


• On the other hand, your stop loss should be placed above the 1.1856 level, hence it will helpful to set it at the price of 1.1886 this week.

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Technical analysis of GBP/USD for January 14, 2015 Market Analysis Review

Overview :

• The first key level of GBP/USD pair will set at the level of 1.6875 and the second key level will set at the 1.5306 mark today. Moreover, it should be noted that the level of 1.5325 represents the resistance and the ratio of 50% Fibonacci retracement levels. Additionally, the 1.5023 level is going to act as the support on H1 chart and the double bottom sets at the level of 1.5035 at the same time frame. Equally important, the price of the GBP/USD pair is still moving between 1.5104 and 1.2521. Another thought, it should be noted that the range will be about 88 pips today. Furthermore, in the long term the trend is very clear and indicating a downward bias from the double top at the level of 1.5325. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.5320. As a result, sell at the price of 1.5320 with the first target of 1.5180, it might resume to 1.5104 and continue towards the point of 1.5035 in order to test the weekly support. On the other hand, your stop loss should be placed above the 1.5325 level. Therefore, it will be helpful to set it at the price of 1.5360 today.

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Daily analysis of major pairs for January 14, 2015 Market Analysis Review

EUR/USD: This currency trading instrument still has the potential to continue trading further down in the context of the existing bearish trend. When the support line at 1.1750 is breached to the downside, it would ensure more southerly trip towards another support line at 1.1700.

USD/CHF: This market is still in a bullish mode and the resistance level at 1.0200 is still being challenged (just as it was challenged unsuccessfully last week). A breach of that stubborn resistance level is a task that must be done by bulls; otherwise, the risk of a large pullback from here is high. The resistance level must not only be broken - the price must also close above it.

GBP/USD: This is a bear market in spite of bulls' effort to push the price further up. Unless the price closes above the distribution territory at 1.5250, there cannot be any threat to the existing bearish outlook. The price is likely to dive further from this point.

USD/JPY: Now, there is a clean Bearish Confirmation Pattern in this market, with the price below the EMA 56 and the RSI period 14 below the level 50. Given the current strength in the Yen, this market is expected to fall further, challenging the demand level at 117.00.

EUR/JPY: This week, the EUR/JPY pair has dropped by over 150 pips, testing the demand zone at 138.50. That demand zone could be tested again and breached to the downside, enabling the price to reach another demand zone at 138.00.

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USDCAD Daily Analysis - January 14, 2015 Forex Analysis

USDCAD's upward movement from 1.1560 extended to as high as 1.1993. Further rise is still possible after a minor consolidation, and next target would be at 1.2100 area. Support is at 1.1850, only break below this level could signal completion of the uptrend.

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USDCHF Daily Analysis - January 14, 2015 Forex Analysis

USDCHF remains in uptrend from 1.9553, the fall from 1.0216 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.0300 area. Key support is at 1.0030, only break below this level could signal completion of the uptrend.

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USDJPY Daily Analysis - January 14, 2015 Forex Analysis

USDJPY stays in the downward price channel on 4-hour chart, and remains in downtrend from 120.82. Deeper decline is still possible, and next target would be at 116.50 area. Resistance is at the upper line of the channel, only a clear break above the channel resistance could trigger another rise towards 125.00.

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AUDUSD Daily Analysis - January 14, 2015 Forex Analysis

No changed in our view, AUDUSD is in consolidation of the downtrend from 0.8910 (Oct 29, 2014 high). Range trading between 0.8032 and 0.8300 would likely be seen in a couple of days. As long as 0.8300 resistance holds, the downtrend could be expected to resume, and another fall towards 0.7500 is still possible after consolidation.

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GBPUSD Daily Analysis - January 14, 2015 Forex Analysis

GBPUSD broke above the upper line of the price channel on 4-hour chart, indicating that lengthier consolidation for the downtrend from 1.5785 is needed. Range trading between 1.5034 and 1.5300 would likely be seen in a couple of days. However, as long as 1.5300 resistance holds, the downtrend could be expected to resume, and one more fall towards 1.4500 is is still possible after consolidation.

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EURUSD Daily Analysis - January 14, 2015 Forex Analysis

EURUSD is in consolidation of the downtrend from 1.2569. Range trading between 1.1754 and 1.1975 would likely be seen in a couple of days. Resistance is at 1.1975, as long as this level holds, the downtrend could be expected to resume, and another fall to 1.1500 area is still possible. Support is at 1.1754, a breakdown below this level could signal resumption of the downtrend.

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GBP/USD intraday technical levels and trading recommendations for January 13, 2015 Market Analysis Review

Overview:

The GBP/USD pair has been moving downwards respecting the depicted bearish channel since mid-September when the ongoing channel was initiated.

Recently, the market failed to express a bullish breakout above the price level of 1.5760 (the upper limit of the daily bearish channel).

Instead, an extensive bearish pressure was applied against the price levels of 1.5540-1.5560 (this breakdown was successfully executed on December 23).

A daily closure below the recent bottoms established around 1.5540-1.5560 rendered the previous consolidation range as a bearish flag pattern with "projection target" at 1.5300.

The market has already pushed further below this level reaching down to 1.5030 affected by the U.S. dollar strength these days.

The key-support zone for today's movement is located at 1.5100-1.5120. On the other hand, fixation above the price level of 1.5175 pauses the current bearish decline exposing price level of 1.5260, 1.5370 and 1.5410.

However, within such strong bearish trend you should note that H4 fixation below 1.5100 indicates further bearish tendency on the market, probably, new lows below 1.5030 are going to be hit.

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USD/CAD intraday technical levels and trading recommendations for January 13, 2015 Market Analysis Review

Overview:

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

During the past few weeks, the USD/CAD pair established a temporary consolidation zone between price levels of 1.1560 and 1.1670.

Bullish breakout above these zones allowed bulls to reach price levels of 1.1800, 1.1850 and recently 1.1900 where new highs have been scored.

As a conservative trader, you should know that price zone of 1.1800-1.1750 remains the nearest SUPPORT zone for the current prices. LONG positions are suggested at retesting this price zone.

You should also note the ascending channel pattern being expressed around price zone of 1.1900-1.1950 where the upper limit of the depicted movement channel is located.

This pattern may indicate bearish reversal if confirmed with bearish breakdown of the lower limit of it around price level of 1.1850-1.1870 (the most recent SUPPORT zone).

Trading recommendations:

LONG positions are suggested at retesting price zone of 1.1800-1.1750 which is a newly established SUPPORT zone. SL should be placed slightly below price level of 1.1730.

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Intraday technical levels and trading recommendations for EUR/USD for January 13, 2015 Market Analysis Review

The EUR/USD pair continued to move lower after breaking below the major DEMAND LEVEL at 1.2250 exposing the price levels of 1.2120 and 1.2000 .

Further actions from the ECB regarding QE are still doubted. The market was expecting the US Non-Farm Employment indicator to drop on Friday. Moreover, the latest eurozone manufacturing release was not that good. All these reasons led to the current negative EUR/USD pair sentiment.

The EUR/USD pair has lost almost 200 pips since the year of 2015 started, as the market is pushing towards its lowest levels since December 2009.

The market currently looks oversold below the price level of 1.2000 and 1.1950 (prominent psychological SUPPORT & the lower limit of the movement channel on the H4 chart).

Currently, selling the EUR/USD pair is considered a high-risk position at such historically low prices. On the other hand, BUYING the EUR/USD pair is currently a low-risk opportunity at such low prices.

Bullish pullback should be anticipated looking for better prices to sell the pair off.

The price level of 1.1950 is the recently established SUPPLY level. Short-term SELL positions can be taken there provided that the market keeps trading below the price level of 1.2000.

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Intraday technical levels and trading recommendations for GBP/USD for January 13, 2015 Market Analysis Review

Previously, the GBP/USD pair had temporary DEMAND around 1.5550 where many previous lows were established within a congestion zone in November 2014.

A bearish breakout was expressed after successive unsuccessful attempts back in 2014.

A bearish flag pattern is obvious on the daily chart, similar to what happened back in October.

The final bearish target was expected to be around price level of 1.5140. This target was already bypassed on Friday reaching the lower limit of the depicted bearish channel around 1.5050.

Currently, the GBP/USD pair is showing bullish recovery off the price level of 1.5050 which is manifested in the bullish hammer daily candlesticks. This is supported by the positive UK Manufacturing production data that emerged on Friday.

Bullish fixation above 1.5100 is mandatory to maintain the current corrective movement. Price level of 1.5100 has been defended by bulls since 2015 started.

Consolidation movement range between the price levels of 1.5770 and 1.5550 represented the state of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.

As anticipated, the bearish breakout below 1.5550 directly exposed lower targets. The bears have already reached the price level of 1.5050 that has not been hit since August 2013.

Risky traders can look for BUY entries around price level of 1.5100. Targets would be located around 1.5400, 1.5480 and 1.5550. Stop Loss to be located below 1.5025.

Conservative traders should wait for a bullish pullback towards the recent SUPPLY zone around 1.5480-1.5550 for a low-risk SELL entry. The stop loss should be located above 1.5560.

Note that the price level of 1.5480 corresponds with 50% Fibonacci level as well as multiple previous bottoms established back in December.

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Gold analysis for January 13, 2014 Market Analysis Review

Overview :

Since our last analysis gold has been trading upwards. As we expected, the price tested the level of 1,243.97 in a volume above the average. According to the H4 time frame, we can observe demand on the market, which is a sign that selling gold at this stage looks risky. We may expect testing the levels of 1,255.00-1,265.00. Be careful when selling gold and watch for potential buying opportunities on the lows.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,235.84

R2: 1,240.20

R3: 1,247.27

Support levels:

S1: 1,221.70

S2: 1,217.37

S3: 1,210.10

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

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EUR/NZD analysis for January 13, 2014 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading sideways around the price of 1.5200. According to the daily time frame, we can observe demand in a volume above the average. According to the H1 time frame, we can observe weak demand, which is a sign that buying looks risky. I have placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 38.2% at the price of 1.5290 and Fibonacci retracement 61.8% at the price of 1.5435. Be careful when buying and watch for potential selling opportunities after retracement. Any larger supply in a high volume may confirm further bearish phase.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5246

R2: 1.5289

R3: 1.5357

Support levels:

S1: 1.5110

S2: 1.5067

S3: 1.5000

Trading recommendations: Be careful when buying the EUR/NZD pair at this stage since we got weak demand in the background.

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#USDX technical analysis for January 13, 2015 Market Analysis Review

The Dollar index did not manage to break above the resistance yesterday, but is still consolidating above the short-term suppot at 91.80. The longer-term trend remains bullish although we could see a deeper short-term pullback towards 91 before resuming higher towards 94-95.

Red line = resistance

Blue line = support

The Dollar index remains above the trend line support but below the short-term resistance trend line. The Dollar index is also above the Ichimoku cloud. The recent consolidation, I believe, is just another pause before the resumption of the uptrend. In case the Dollar index breaks below the 91.70 support, I expect the pullback to push price towards the cloud support area of 91.10-91.40.

The monthly chart above shows that January is another strong bullish month. The clear breakout above the 38% retracement gives me 95 as target where the 50% retracement is found. Trend remains strongly bullish and there is no sign of a reversal. Any pullback towards 90 should be seen as a back test and another opportunity to go long with this index.

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Gold technical analysis for January 13, 2015 Market Analysis Review

Gold price has broken above the important resistance at $1,235-38 and is making new trend highs. Short-term trend remains bullish as gold price makes higher highs and higher lows. Target is now at $1,260 as long as the price holds above $1,200.

Gold price has broken the consolidation range last week, and early this week continues to show strength by breaking above important medium-term resistance at $1,238. The target of the bullish flag is at $1,260. Price is above the Ichimoku cloud and as long as the price holds above $1,220-$1,200 bulls should be in control.

The triangle pattern has been broken upwards from yesterdays late trading. Price is above the Ichimoku cloud and tenkan-sen is crossing the kijun-sen. This is another bullish signal that supports my bullish view for an upward move towards $1,260 at least.

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Technical analysis of USD/CAD for January 13, 2015 Market Analysis Review

General overview for 13/01/2015 09:15 CET

The projected target for wave 5 purple has been hit, but the market is continuing to make higher highs as the impulsive structure looks incomplete yet. This is why the overall scenario has been a little changed and the top for wave iii black has been established at the level of 1.1867 now. Please notice the momentum oscillator is starting to diverge from price and bearish divergence is building now. The current scenario expects an internal corrective sub-cycle in wave (iv) blue and then another high will be made.

Support/Resistance:

1.1987 - WR2

1.1977 - Intraday Resistance

1.1926 - WR1

1.1895 - 1.1912 - Target Zone

1.1887 - Intraday Support

1.1829 - Weekly Pivot

Trading recommendations:

The target zone for wave 5 purple has been met and now the corrective decline might happen very soon. One more wave to the upside is being expected before any meaningful corrective cycle will start.

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