Technical analysis of EUR/USD for January 26, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as German Ifo Business Climate. However, the US economic calendar lacks any reports. So, in this context EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1219.

Strong Resistance:1.1213.

Original Resistance: 1.1202.

Inner Sell Area: 1.1191.

Target Inner Area: 1.1165.

Inner Buy Area: 1.1139.

Original Support: 1.1128.

Strong Support: 1.1117.

Breakout SELL Level: 1.1111.

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 major pairs for January 26, 2015 Market Analysis Review

EUR/USD: The EUR/USD pair is now one of the weakest of the popular pairs. Since January 2, 2015, the price has fallen by roughly 900 pips. There was a massive drop in the market last week, enabling the price to drop below the support line at 1.1150. Although the price bounced upwards after that, the support line would be breached soon.

USD/CHF: The outlook on this special market remains unchanged. The bias on this currently abnormal market is bearish, but the bullish correction is expected to continue gradually in spite of occasional large bearish corrections. Therefore, the USD/CHF pair would move upwards by at least 500 pips this week, although the upwards movement would be slow and gradual.

GBP/USD: One nice thing about the Cable is that it is now going in a clean positive correlation with the EUR/USD pair. The two pairs tend to go in positive correlation with each other – an established habit. The Cable and the EUR/USD pair are both dropping, but the drop in the latter is more significant than the drop in the former. On the Cable, further drop is expected this week.

USD/JPY: The situation on the USD/JPY pair is a kind of dicey right now; but it is more probable that the pair would go further south, as a result of apparent strength in the JPY. This market can reach the demand level at 117.00 soon.

EUR/JPY: This is one of the weakest among the JPY pairs – largely because of the strong weakness in the EUR itself. On Friday, January 23, 2015, the price closed on a bearish note. More southerly movement is expected this week.

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Technical analysis of USD/JPY for January 26, 2015 Market Analysis Review

In Asia, Japan will release the Trade Balance and Monetary Policy Meeting Minutes. The US will not publish any economic reports. So, there is a big probability the USD/JPY pair will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 119.24.

Resistance. 2: 118.01.

Resistance. 1: 117.78.

Support. 1: 117.50.

Support. 2: 117.27.

Support. 3: 117.04.

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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Forecast and trading recommendations on GBP/JPY for January 26, 2015 Market Analysis Review

The cross is trading at a 2-months low. On the monthly chart, the cross fell below the 200Msma and is still trading below it. The cross has parallel support between 174.75 and 174.50. On the weekly chart, the pair closed below the 20Wsma and made a minor double top at 180.53. The weekly support level exists between 175.80 and 175.25 and 50Wsma. Today, at early Asian session, the cross managed to hold the previous week's low at 176.15 and is trading at 176.64. In case if the price breaks below 176.15, we can expect 175.80 and 175.20 immediately. A weekly close is below 175.20 and 50Wsma, the medium-term view turns to more bearish. The trading pattern is framed between the 175.20 and 180.50 levels. Either side of breakout will provide a clear way for the medium trend.

On the daily chart, the pair has been testing its fate at 200Dsma and a 2-week low at the175.80 levels. The pair broke the near- and medium-term moving averages and closed below them. So, it's clear bulls have the last hope between 175.80 and 175.20. If a weekly close is below, these levels can extend the cross fall towards 171.50. On the chart, we can observe the support trend line became the resistance trend line. Until the pair closes above the resistance trend line, use the rally to sell will favour. We recommend fresh selling only below 175.00.

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Technical analysis of Silver for January 26, 2015. Market Analysis Review

Technical outlook and chart setups:

Silver cleared its initial extension at $18.30/40 levels last week. The metal could be poised to push higher towards $18.90 levels, the next extension. Please note that the metal has already moved, unfolding an inverted head and shoulder reversal since $15.50 levels. One should not be surprised to see $21.00 levels being hit soon enough. Immediate support is seen at $17.90 levels, followed by $17.40/50 and lower while resistance is seen at $18.90/19.00 levels and higher respectively. It is recommended to keep buying on dips as a simple trading strategy. A long-term bullish trend might have already resumed.

Trading recommendations:

Look to buy on each dip.

Good luck!

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Technical analysis of EUR/JPY for January 26, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair has dropped by 5 waves down from 149.80 to sub 131.00 levels, depicted with arrows here. It looks like the pair is preparing for a counter trend rally that could extend towards 142.30 levels. Immediate support is seen at sub 130.00 levels, while resistance is seen at 133.00 respectively. A break above 133.00 would confirm that the rally has resumed and it would be recommended to initiate long positions on dips there after. As discussed earlier, the bigger picture indicates that EUR/JPY might be heading into a deeper correction lower towards 115.00/116.00 levels. For now, a 3-wave counter trend rally seems more probable.

Trading recommendations:

Could buy on dips after 133.00 breaks.

Good luck!

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Daily analysis of USDX for January 26, 2015 Market Analysis Review

The bullish momentum at the USDX seems to be unstoppable, because during the last session, the USDX did a strong breakout at the 94.18 level. Now, the next resistance zone on this instrument is the level of 97.52. Currently, from the technical view, the USDX is overbought, as the MACD indicator is reaching those extreme levels in the upside and the USDX could start to form a bullish pattern.

We can see on the H1 chart a bullish formation above the support level of 94.38 and the near-term resistance is at the level of 95.48, the latest Friday's high. The 200 SMA is still bullish, but the MACD indicator is bearish. Anyway, we cannot neglect the fact that the USDX was performing a retracement to favor the current bullish bias. Because of it, this instrument could make a breakout at the resistance level of 95.48 with a target placed at the 96.63 level.

Daily chart's resistance levels: 97.52 / 99.17

Dailychart's support levels: 94.18 / 93.02

H1 chart's resistance levels: 95.48 / 96.63

H1 chart's support levels: 94.38 / 94.02

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 95.48, take profit is at 96.63, and stop loss is at 94.32.

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Daily analysis of GBP/USD for January 26, 2015 Market Analysis Review

The GBP/USD pair is trying to reach new low levels during this week, as this pair peformed a breakout at the support level of 1.5025. It opened the way for more falls to the support level of 1.4853 that could be reached in the coming days. Also, the main bias on the GBP/USD pair remains very bearish, because the 200 SMA is still pointing to the downwards.

On the H1 chart, the GBP/USD pair is currently forming a lower low pattern below the 200 SMA. Besides, this pair seems to have formed a double top pattern next to the resistance level of 1.5030. Currently, the short-term targets remain at the 1.4927 and 1.4849 levels, as the GBP/USD continues to stay bearish at least in the short term. The MACD indicator stays in the positive territory, but in the coming days, that situation could change.

Daily chart's resistance levels: 1.5025 / 1.5247

Dailychart's support levels: 1.4853 / 1.4714

H1 chart's resistance levels: 1.5000 / 1.5084

H1 chart's support levels: 1.4927 / 1.4849

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 1.4927, take profit is at 1.4849, and stop loss is at 1.5006.

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USDCAD Daily Analysis - January 26, 2015 Forex Analysis

USDCAD remains in uptrend from 1.1560. Near term support is at 1.2250, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.2700 area. Key support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

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USDJPY Daily Analysis - January 26, 2015 Forex Analysis

USDJPY remains in short term uptrend from 115.85, the fall from 118.86 is likely consolidation of the uptrend. Further rise to test 120.82 resistance could be expected after consolidation, a break of this level will signal resumption of the longer term uptrend from 101.06 (Jul 10, 2014 low), then the following upward movement could bring price to 125.00 area.

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AUDUSD Daily Analysis - January 26, 2015 Forex Analysis

AUDUSD remains in downtrend from 0.8294, and the fall extended to as low as 0.7857. Further decline could be expected after a minor consolidation, and next target would be at 0.7600 area. Resistance is at 0.8000, as long as this level holds, the downtrend will continue.

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GBPUSD Daily Analysis - January 26, 2015 Forex Analysis

GBPUSD's downward movement from 1.5785 extended to as low as 1.4950. Further decline could be expected, and next target would be at 1.4700 area. Resistance levels are at 1.5100 and 1.5268, only break above these levels could signal completion of the downtrend.

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EURUSD Daily Analysis - January 26, 2015 Forex Analysis

EURUSD's downward movement from 1.2569 extended to as low as 1.1097. Further decline could be expected after a minor consolidation and next target would be at 1.0800 area. Near term resistance is at 1.1350, 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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