Daily analysis of major pairs for January 16, 2015 Market Analysis Review

EUR/USD: This currency trading instrument continues to go downwards, moving below the support line at 1.1650. Another support line at 1.1600 could be breached to the downside as well.

USD/CHF: There has been an abnormal southward plunge on this pair, as a result of the actions of the Swiss National Bank. A downwards movement of over 2800 pips in a single day is not normal, but this same thing happened on all CHF pairs. For example, the CHF/JPY pair rose by close to 7000 pips in a single day. As for USD/CHF, the market is expected to correct itself gradually until things become normal. One may open a long trade with a very small lot and target about 500 pips.

GBP/USD: The Cable has proven to give an opportunity to sell short when the price was slightly higher in the context of a downtrend. The distribution territory at 1.5250 was challenged but the price was unable to close above it, and therefore, the current dip in the price could be a renewal of further bearish move.

USD/JPY: This pair has entered a bear market – the price is below the EMA 56 and the RSI period 14 is below the level 50. The next target could be the demand level at 115.50, although the price could go below that level.

EUR/JPY: This week, the EUR/JPY pair has gone downwards by more than 500 pips, owing to the ongoing weakness in the EUR and the continuous strength in the Yen. The Bearish Confirmation Pattern on the chart is now very strong and the price could break the demand zone at 135.00 to the downside.

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Daily analysis of USDX for January 16, 2014 Market Analysis Review

The USDX made a pullback at the resistance level of 92.62 and this instrument may close the week in the range between the 92.62 and 91.62 levels. This is because the USDX has not found a way to consolidate a solid trend on a medium term basis. During yesterday's session, the USDX made a rebound to the support level of 91.62 after being rejected by the aforementioned resistance zone.

H4chart's resistance levels: 92.62 / 94.45

H4chart's support levels: 91.62 / 91.17

On the H1 chart, the USDX had an intraday fall from the level of 92.75 after conducting a strong bullish rebound at the 200-day moving before yesterday's American session. Now, the support USDX located at the level of 92.08, so this instrument is likely to reach the resistance level of 92.51. The MACD indicator remains in the negative territory.

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 92.92, and stop loss is at 92.10.

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Daily analysis of GBP/USD for January 16, 2015 Market Analysis Review

On the H4 chart, GBP/USD has fallen back to the support level of 1.5148, which is an area where this pair could find solid support during the following hours before closing today's session. However, the bearish bias remains alive in GBP/USD, as this pair is still below the 200-day moving average and also, the MACD indicator is moving into the negative territory.

H4chart's resistance levels: 1.5341 / 1.5485

H4chart's support levels: 1.5148 / 1.5034

The GBP/USD pair has consolidated again below the 200 SMA on the H1 chart. So now, this pair will try to make a breakout at the support level of 1.5146 with the formation of a lower low pattern. If successful, the next target would be the 1.5110 level, but now, the pair is losing bearish intraday momentum.

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 1.5182.

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Technical analysis of EUR/USD for January 16, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as Final Core CPI y/y, Final CPI y/y, French Gov Budget Balance, and German Final CPI m/m. The US will also publish a bunch of the economic reports such as the TIC Long-Term Purchases, Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, Industrial Production m/m, Capacity Utilization Rate, Core CPI m/m, and CPI m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1673.

Strong Resistance:1.1666.

Original Resistance: 1.1655.

Inner Sell Area: 1.1644.

Target Inner Area: 1.1616.

Inner Buy Area: 1.1588.

Original Support: 1.1577.

Strong Support: 1.1566.

Breakout SELL Level: 1.1559.

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 16, 2015 Market Analysis Review

In Asia, Japan will release the Tertiary Industry Activity m/m. The US will also release a bunch of economic data such as TIC Long-Term Purchases, Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, Industrial Production m/m, Capacity Utilization Rate, Core CPI m/m, and CPI m/m. 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.

Resistance. 3: 116.62.

Resistance. 2: 116.40.

Resistance. 1: 116.17.

Support. 1: 115.89.

Support. 2: 115.66.

Support. 3: 115.43.

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 Silver for January 16, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver remains more or less unchanged from yesterday and is seen trading at $17.10 levels for now. The metal is expected to push higher through the $17.40/50 levels at least before producing a meaningful retracement. It is therefore recommended to remain long for now and also look to dd further during intraday dips. Immediate support is seen at $16.50 levels, followed by $16.20, $15.50, $14.50 and lower while resistance is seen at $17.40/50, followed by $17.80/18.00 and higher respectively. The metal is lagging behind its counterpart Gold for now and a push higher towards at least $17.40/50 levels should fulfill minimum criteria for a pullback.

Trading recommendations:

Remain long, stop at $15.50, a target is open.

Good luck!

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Technical analysis of Gold for January 16, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold has hit the minimum expected levels at $1,255.00 yesterday. The metal crossed $1,266.00 levels and is trading at $1,261.00 levels for now. Please note that the metal has taken out past resistance at $1,255.00 levels and hence a pullback could be expected from here. It is recommended to book profits on long positions and wait for a pullback to materialize. Immediate support is seen at $1,224.00, followed by $1,205.00, $1,170.00 and lower while resistance is now at $1,290.00 and higher respectively. Bulls are seen to be in complete control now and all dips from here should be considered excellent buy opportunities for long and short term trading.

Trading recommendations:

Book profits on long positions.

Good luck!

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USDCAD Daily Analysis - January 16, 2015 Forex Analysis

USDCAD broke below the bottom of the price channel on 4-hour chart, indicating that consolidation of the uptrend from 1.1191 (Nov 21, 2014 low) is underway. Range trading between 1.1750 and 1.2017 would likely be seen over the next several days. Resistance is at 1.2017, only break above this level could trigger another rise towards 1.2500.

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USDJPY Daily Analysis - January 16, 2015 Forex Analysis

USDJPY remains in downtrend from 120.82, and the fall extended to as low as 115.85. Further decline to test 115.56 support is still possible. Near term resistance is at 118.00, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

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AUDUSD Daily Analysis - January 16, 2015 Forex Analysis

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. Resistance is at 0.8300, as long as this level 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 16, 2015 Forex Analysis

GBPUSD is in consolidation of the downtrend from 1.5785. Range trading between 1.5034 and 1.5300 would likely be seen in a couple of days. Resistance is at 1.5300, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.4500 is still possible. Only break above 1.5300 resistance could signal completion of the downtrend.

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EURUSD Daily Analysis - January 16, 2015 Forex Analysis

EURUSD continued its downward movement from 1.2569, and he fall extended to as low as 1.1568. Further decline could be expected over the next several days, and next target would be at 1.1400 area. Resistance levels are at 1.1725 and 1.1870, only break above these levels could signal completion of the downtrend.

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Intraday technical levels and trading recommendations for EUR/USD for January 15, 2015 Market Analysis Review

The market has been pushing lower aggressively after breaking below major DEMAND LEVELS around 1.2000 and 1.1860 where historical bottoms were previously established back in 2012 and 2010.

Further actions from the ECB regarding QE are still doubted due to the ECB’s policy meeting on January 22. This is strongly affecting the market leading to the current long-term negative sentiment of the EUR/USD pair.

The pair has lost almost 475 pips since the beginning of 2015, as the market is pushing towards its lowest levels since November 2005.

The market currently looks oversold below the price level of 1.2000 and 1.1900 (prominent psychological SUPPORT & the lower limit of the movement channel on the H4 chart).

Currently, SELLING the EUR/USD should be avoided as much as possible at such historically low prices.

On the other hand, BUYING the pair is considered a low-risk opportunity but with low probability after such strong bearish trend.

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

The price zone of 1.1750-1.1820 is the recently established SUPPLY zone. Short-term SELL positions can be taken there provided that the market keeps trading below the price level of 1.1880.

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Intraday technical levels and trading recommendations for GBP/USD for January 15, 2015 Market Analysis Review

Many previous lows were established around 1.5550 where the GBP/USD pair found temporary DEMAND in November 2014. A bearish breakout was expressed after many unsuccessful attempts back in 2014.

A bearish breakout scenario similar to what happened back in October was successfully executed shortly after. The final bearish target was expected to be around price level of 1.5140.

The market has already pushed further below this level 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 successive bullish hammer daily candlesticks. This is supported by the positive UK Manufacturing production data that emerged last week.

The price level of 1.5100 has been defended by bulls since the start of 2015. Bullish fixation above 1.5130-1.5180 is mandatory to maintain the current corrective movement towards 1.5400.

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 exposed lower targets directly. Bears have already reached the price level of 1.5050 that has not been hit since August 2013.

For RISKY traders, LONG entries was suggested around the price level of 1.5100. Stop Loss to be located below 1.5025.

It is running in profits now (+80 pips). The bulls should defend the recent DEMAND zone located around 1.5160-1.5115 to pursue towards 1.5400.

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 to 50% Fibonacci level as well as the upper limit of the current movement channel.

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USD/CAD intraday technical levels and trading recommendations for January 15, 2015 Market Analysis Review

Overview:

During the past few weeks, the USD/CAD pair established a temporary consolidation zone between the price levels of 1.1560 and 1.1670 bullish breakout above which allowed bulls to reach the price levels of 1.1800, 1.1900 and recently 1.2015 where new highs have been visited.

As expected from the nearest support, the price zone of 1.1800-1.1750 provided excellent SUPPORT for the pair. LONG positions were suggested yesterday at retesting. It is running in profits now.

You should also note the newly established short-term channel being expressed since the price level of 1.1750 extended up to 1.2000 as the market looks quite overbought since bulls have pushed further above the upper limit of the long-term movement channel.

This channel pattern may indicate bearish reversal, if confirmed, with H4 bearish breakdown of the lower limit of it around price level of 1.1850-1.1870.

Otherwise, if bulls keep defending the recent INTRADAY SUPPORT around 1.1850 down to 1.1800, the market bias remains positive.

Trading recommendations:

LONG positions are suggested at retesting price zone of 1.1800-1.1750. SL should be placed slightly below price level of 1.1730.

Counter-trend risky traders can wait for a bearish breakout below 1.1850 to SELL the USD/CAD pair aiming for 1.1750 and 1.1680.

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GBP/USD intraday technical levels and trading recommendations for January 15, 2015 Market Analysis Review

Overview:

The GBP/USD pair has been moving downwards respecting the depicted bearish channel since mid-September 2014 when the ongoing channel was initiated.

On December 17, the market failed to express a bullish breakout above the upper limit of the daily bearish channel. Shortly after, an extensive bearish pressure was applied against the price levels of 1.5540-1.5560 on December 23.

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 where the lower limit of the channel provided significant support for the pair.

Bullish recovery was manifested by the ascending bottoms being established on the H4 chart. This may apply further pressure to break above the recent high (1.5260).

The key-support zone for today's movement is located at 1.5150-1.5180. Fixation above it enhances the bullish side of the market towards 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.

Trading recommendations:

Price zone of 1.5350-1.5380 ( 61.8% Fibonacci Level ) should be watched for new SELL entries with SL as daily closure above 1.5400.

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Technical analysis of USD/JPY for January 15, 2015 Market Analysis Review

Fundamental overview:
USD/JPY is expected to trade with risks skewed to the downside after hitting almost a one-month low 116.07 on Wednesday. It is undermined by the flows to safe haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 4.47% to 21.48, S&P 500 closed 0.58% lower at 2,011.27 overnight) and worries about the pace of global economic growth after the World Bank lowered its forecasts for global expansion in 2015 to 3.0% from 3.4% and in 2016 to 3.3% from 3.5%. It is also noteworthy that copper prices plunged to their lowest in more than five years and that the U.S. retail sales fell 0.9% on-month in December (versus forecast -0.2%). USD/JPY is also weighed by the weaker dollar sentiment (ICE spot dollar index last 92.08 versus 92.22 on early Wednesday) on weak U.S. retail sales and by 5.5% on-year drop in the U.S. December import price index (biggest annual decline since October 2009). In addition to it, 0.2% rise in the U.S. November business inventories (versus forecast +0.3%), lower U.S. Treasury yields (10-year at 1.85% versus 1.89% late Tuesday) and Japan's export sales weigh the pair. However, USD/JPY losses are tempered by the demand from the Japanese importers and by the Bank of Japan's large-scale easing monetary policy.

Technical comment:
The daily chart is negative-biased as the MACD and stochastics are bearish, although, the latter is at the oversold levels. Five-day moving average is below 15-day moving average and is declining.

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 the pivot point. Short positions are recommended with the first target at 116. A break of this target will move the pair further downward to 115.50. The pivot point stands at 117.55. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to this scenario, a long position is recommended with the first target at 117.95 and the second target at 118.50.

Resistance levels:

117.95

118.50

119



Support levels:

116

115.50

115

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Technical analysis of USD/CHF for January 15, 2015 Market Analysis Review

Fundamental overview:
USD/CHF is expected to consolidate with bearish bias after hitting a four-year high 1.0240 on Wednesday. It is supported by the contagion from the weak euro on the Swiss franc and franc sales on soft CHF/JPY cross and ultra-loose Swiss National Bank's monetary policy. But USD/CHF gains are tempered by the weaker dollar sentiment.

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

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 the pivot point. Short positions are recommended with the first target at 0.8405. A break of this target will move the pair further downward to 0.8005. The pivot point stands at 0.9550. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 0.9780 and the second target at 1.

Resistance levels:

0.9780

0.9810

0.9845

Support levels:

0.8405

0.8005

0.7975

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Gold analysis for January 15, 2014 Market Analysis Review

Overview :

Since our last analysis gold has been trading upwards. As we expected, the price has tested the level of 1,260.70 in a high volume. Weak supply from yesterday caused price to continue with upward movement. According to the H4 time frame, we can observe demand in a high volume on the market, which is a sign that selling gold at this stage looks risky. Our Fibonacci expansion 161.8% around the price of 1,265.00 is on the test. Be careful when selling gold and watch for potential buying opportunities on the lows. We got support level at the price of 1,244.00 (swing high like support).

Daily pivot Fibonacci points:

Resistance levels :

R1: 1,244.44

R2: 1,254.37

R3: 1,264.14

Support levels :

S1: 1,224.74

S2: 1,214.97

S3: 1,205.04

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

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Technical analysis of NZD/USD for January 15, 2015 Market Analysis Review

Fundamental overview:
NZD/USD is expected to trade with bearish bias. It is undermined by the kiwi sales on soft NZD/JPY cross amid increased investor risk aversion and kiwi sales on buoyant AUD/NZD cross. But NZD/USD losses are tempered by the weaker dollar sentiment and NZD-USD interest differential.

Technical comment:

The daily chart is negative-biased as stochastics is falling from overbought levels, the MACD histogram bars is turning negative and five-day moving average is falling below 15-day moving average.

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 0.7865 and the second target at 0.79. In an alternative scenario, if the price moves below its pivot points, short posisitions are recommended with the first target at 0.7755. A break of this target would push the pair further downward and one may expect the second target at 0.7720. The pivot point is at 0.7755.

Resistance levels:

0.7865

0.79

0.7935



Support levels:

0.7720

0.7690

0.7650

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Technical analysis of GBP/JPY for January 15, 2015 Market Analysis Review

Fundamental overview:
GBP/JPY is expected to consolidate with bearish bias. It is undermined by the flows to the safe haven yen amid increased investor risk aversion and weak euro sentiment. The GBP/JPY daily chart downside is limited by the continuing impact from the BOE government, Carney's suggestion on Tuesday that there is no need for further monetary stimulus in the U.K. despite weak U.K. inflation, and by the sterling demand on the soft EUR/GBP cross.

Technical comment:
The daily chart is negative-biased as the MACD is bearish, stochastics stays suppressed at oversold levels, five- and 15-day moving averages are declining.

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 the pivot point. Short positions are recommended with the first target at 177.20. A break of this target will move the pair further downward to 176.50. The pivot point stands at 178.80. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 179.60 and the second target at 180.10.

Resistance levels:

179.60

180.10

181

Support levels:

177.20

176.50

176

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EUR/NZD analysis for January 15, 2014 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.4859 in an ultra high volume. According to the daily time frame, we can observe strong supply in an ultra high volume (selling climax), so selling EUR/NZD at this stage looks very risky.The price rejected from our Fibonacci retracement 38.2% (1,5290) and caused market to continue with downward movement . Our Fibonacci expansion 161.8% at the price of 1.4900 is on the test. Be careful when selling since we may expect reaction from buyers. Anyway, if the price breaks the level of 1.4900, we may see a potential testing of the level of 1.4450.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5317

R2: 1.5354

R3: 1.5414

Support levels:

S1: 1.5198

S2: 1.5161

S3: 1.5102

Trading recommendations: Be careful when selling the EUR/NZD pair at this stage since the price is testing Fibonacci expansion 161.8%.

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Technical analysis of EUR/JPY for January 15, 2015 Market Analysis Review

Technical outlook and chart setups:

A weekly chart view of EUR/JPY has been depicted here to keep in mind the larger picture. The EUR/JPY might have completed the large upswing (5 waves) from 94.00 levels to 149.00 levels that began in the mid 2012. The pair might have a 3 wave correction which can go deep into 115.00 levels as depicted here. The current drop from 149.80 levels might end near 134.00 levels, which could be the first leg of correction. It is recommended to remain flat for now and look for entering long to capture wave 2 which could potentially rally back towards 142.00/143.00 levels. Immediate support is seen at 134.13 followed by 127.00 and lower while resistance is seen at 142.00/143.00 followed by 145.00, 149.80 levels respectively.

Trading recommendations:

Remain flat for now, look for buy slight lower.

Good luck!

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Technical analysis of GBP/CHF for January 15, 2015. Market Analysis Review

Technical outlook and chart setups:

It was discussed yesterday to short 50% around 1.5470 levels, as aggressive trade strategy. The GBP/CHF pair popped up an intraday high at 1.5540/45 levels and gave in sharply (unexpected drop) into the 1.1780/1800 region. Technically, the pair has hit the fibonacci 0.681 resistance at 1.5540/45 levels and might move below 1.1500 levels in the weeks/months to come by. Please note that intraday/short term supports and resistances shall form in the coming sessions.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of Silver for January 15, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver pushed higher towards the levels of $17.25 /30 today before pulling back to $17.05 for now. The metal is expected to push through the resistance at $17.40/50 and subsequently $17.80/18.00 levels before producing a meaningful retracement. Please, note that the inverted head and shoulder formation extends up to $18.30 and $18.90 levels as depicted here. Bulls are still in control; and it is recommended to remain long looking for adding further during intraday dips. Immediate support is seen at $16.50, followed by $16.20, $15.50, $14.50 and lower while resistance is seen at $17.40/50 followed by $17.80/18.00 and higher respectively.

Trading recommendations:

Remain long for now, stop at $15.50, target is open.

Good luck!

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Technical analysis of AUD/USD for January 15, 2015 Market Analysis Review

Overview :

• According to the previous events, the price of the AUD/USD pair has still been trapped between the levels of 0.8169 and 0.8226. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to sell below 0.0.8222 (it should be noted the the level of 0.8254 will form a double top on the H1 chart) with the first target at 0.8195 and the price will fall towards the 0.8169 level which represents the rate of 61.8% Fibonacci retracement levels. However, if the pair fails to break and close below the price of 0.8169, the market will indicate a bullish opportunity above 0.8170, and the level of 0.8170 will really act as a strong support. It will be a good sign to buy above 0.8170 with the first target at 0.8206 and it will call for an uptrend in order to continue bullish movement towards 0.0.8254 in order to test the double top.

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Technical analysis of USD/CHF for January 15, 2015 Market Analysis Review

Overview :

• Today, on January 15, 2015, the USD/CHF pair has dropped sharply from the 0.9947 level towards 0.7309. Now, price is set at the 0.8902 to act as a daily pivot point. It should be noted that the volatility is very high for that the price of the USD/CHF pair is still moving between 0.9397 and 0.8521 in coming day. Furthermore, the price has been set below the strong resistance at the levels of 0.9947 and 0.9397 which coincide with the 61.8% and 50% of Fibonacci retracement levels respectively. Additionally, the current price is worth noting that this level coincides with the 38.2% of Fibonacci retracement levels on H1 chart to the weekly chart. Thereupon, the pair has already formed a strong resistance at this level of 0.9383, and it is now approaching it to test it. Therefore, the possibility that the Swissy will have a downside momentum is rather convincing and the structure of the fall does not look corrective. In order to indicate a bearish opportunity below 0.9383, it will be a good sign to sell below 0.9383 or 0.9110 with the first target of 0.8820. It is equally important that it will call for downtrend in order to continue bearish trend towards 0.8152. On the other hand, it is also noteworthy that the price at 0.8521 will possibly form a strong support. Accordingly, saturation around 0.8521 to rebound the pair is likely to occur. Furthermore, it is possible that the market is going to start showing the signs of bullish market. Hence, it will be a good sign to buy above 0.8521 with the first target of 0.8913 and continue towards 0.9080 and 1.9110.

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Gold technical analysis for January 15, 2015 Market Analysis Review

Gold price is currently above the short-term support of $1,225. The rejection at $1,245 is not a good sign and it increases the chances of a fake breakout. As long as Gold price is above $1,225, bulls will have the upper hand. Bullish confirmation will come if we break above $1,245.

Red line = resistance

Blue line = neckline

Green line = support

Gold price is testing the neckline at $1,225. The double top from the rejection at $1,245 is not a good sign for bulls. If the neckline is broken at $1,225, I will have $1,205 as the first target, but the bearish implication from the fake breakout will be bigger and very bad for the longer-term view.

The daily chart of Gold price is worrying the bulls as the long-tailed red candles imply fake breakout. Bulls want price to hold support and break resistance at $1,245 to confirm breakout towards $1,270.

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#USDX technical analysis for January 15, 2015 Market Analysis Review

The Dollar index remains in its short-term sideways move after testing both upper and lower boundaries of the trading range. There is still no clear breakout, although, longer-term trend remains bullish. It is better to avoid this neutral short-term trend.

Red line = resistance

Blue line = support

The short-term resistance is at 92.40 and short-term support at 91.70. The 4-hour chart above shows clearly the sideways move in which the Dollar currently is and also the boundaries of this trading range. Neutral trend means that we should prefer to abstain from trading and wait for a clear signal once a breakout is made.

The weekly chart remains fully bullish with no sign of reversal. Weekly support is found at 89.90. This is the tenkan-sen support and the lower boundary of the upward sloping channel. If it is broken, we should expect the Dollar index to pull back towards the kijun-sen support at 86.70. The Chikou-span is positively sloped and, thus, bullish.

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Technical analysis of USD/CAD for January 15, 2015 Market Analysis Review

General overview 15/01/2015 09:10 CET

The market made another higher high, just as anticipated, and currently the corrective cycle might be developing. To confirm this Elliott wave count, the price must break out below the intraday support at the level of 1.1923 and continue lower. Moreover, breaking out of the golden channel is another bearish sign and there is a possibility that the weekly pivot at the level of 1.1829 might be tested at some point of time. Nevertheless, please, remember that the market is in the corrective cycle wave 4 green and in the mid-term there is another wave to the upside coming once the correction is finished.

Support/Resistance:

1.1829 - Weekly Pivot

1.1923 - Intraday Support

1.1926 - WR1

1.1987 - WR2

1.2000 - Intraday Resistance

1.2015 - Swing High

Trading recommendations:

Daytraders should consider opening sell stop orders from the level of 1.1921 with SL above the level of 1.2000 and TP at the level of 1.1829.

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Technical analysis of EUR/JPY for January 15, 2015 Market Analysis Review

General overview 15/01/2015 09:00 CET

The market had bounce exactly from the anticipated level of 137.00 and currently has hit the first intraday resistance at the level of 138.89. However, the Elliott wave count looks uncompleted with one more wave to the downside needed to finish the cycle. Only an impulsive breakout above the level of 140.05 would invalidate the main count. In that case, the low for wave 5 purple would be at the level of 136.99 and the whole corrective cycle might have been considered completed.

Support/Resistance:

136.99 - Intraday Support

137.12 - WS2

138.36 - WS1

138.89 - Intraday Resistance

140.04 - Purple Impulsive Count Invalidation Line

141.31 - Weekly Pivot

Trading recommendations:

Daytraders should consider opening buy stop orders from the level of 138.91 with SL below the level of 136.99 and TP at the level of 140.04.

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