Elliott wave analysis of EUR/NZD for February 4 - 2015 Market Analysis Review

Technical summary:

We have changed our count for wave (i). Instead of the peak at 1.5290 being wave (i), we think the moving wave (i) to the peak at 1.5821 as being a better fit. That means we should now be looking for wave (ii) and a move lower to the 50% corrective target at 1.5354 as the ideal target for wave (ii). That said, we have to remember, that second waves often do correct a great part of the first wave. So we will keep tight stops, if we manage to enter a long EUR position near 1.5354. To confirm that a bottom is in place, we need a break above minor resistance at 1.5539

Trading recommendation:

Our stop at 1.5490 was hit for a loss. We will buy EUR again at 1.5365 with a stop at 1.5230

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 February 4 - 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for February 4 - 2015 Market Analysis Review

Technical summary:

With a break above important short-term resistance at 134.18, we were right letting bulls have the benefit of the doubt. We are still looking for a move closer to 136.33. However, in the short term, we should see a minor decline to 134.31 before the final rally higher to 136.33 to end wave (iv) and set the stage for wave (v) lower towards 125.98 to end the major expanded flat correction.

Trading recommendation:

We are long EUR from 132.60 and will raise our stop to 133.55 and keep our take-profit at 136.20.

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 February 4 - 2015 . Thanks for your support.

Technical analysis and trading recommendations on Gold for February 04, 2015 Market Analysis Review

The yellow metal made a double top and slipped to the support levels. As we recommended in yesterday's articles, the selling pressure will appear only below $1,266.00. Ahead of the Chinese Lunar New year on February 19th, we can expect Chinese consumers will acquire gold. The focus has shifted to today's ADP non-farm employment data. The metal fell, due to fading concerns over Greece. The metal has support at $1,255.00 and $1,249.50. The panic will be triggered below $1,249.50. We recommend fresh selling only below $1,249.50. The prices have been taking support at $1,255.00, a 12-hour low.

Resistance: $1,286.00, $1,297.50, $1,303.00.

Support: $1,255.00, $1,249.50, $1,239.00.

At the Asian session, the metal is trading at $1,260.00. The support exists at $1,255.00, 12-hour support. We can expect weakness below it. The next support levels are expected to be at $1,251.50.00 and $1,249.50.00. Until the metal trades and closes below $1,286.00, use every rise to sell with the targets at $1,230.00. Safe traders can sell below $1,249.50 and risky traders can sell below 1255.00.

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 recommendations on Gold for February 04, 2015 . Thanks for your support.

Technical analysis and trading recommendations on GBP/USD for February 04, 2015 Market Analysis Review

The cable gave a strong close, but restricted the descending trend line. The U.S. dollar is slipping against most major currencies. Greece's hopes weigh against the U.S. dollar. The U.S. economic data are disappointing as well. The U.S. factory orders fell sharply. The U.K. released the construction data which appeared to be quite strong in January. The construction PMI index rose to 59.1 from a 17-month low at 57.6 in December. It's a good sign for bulls to make a bottom in the near and medium term. The pair made a low at 1.4950 in January. On the monthly charts, the previous supports are seen between 1.4830 and 1.4800.

After 4 days, the pair managed again to close above 20Dsma. Bulls can hold the upper hand longer in case if the prices overcome 1.5225 with the targets at 1.5265, 1.5320, and 1.5400. The strong resistance levels exist between 1.5225 and 1.5270. The pair can make a breakout with a 300-pips upswing, in case the prices close above the descending trend line on the daily chart. It is too early to foresee such a big target. but it's better to keep an eye on it. We have been recommending fresh selling only below 1.4950 and the same is advised now. The intraweek support exists at 1.5120 or 20Dsma. Today, at the Asian session the pair was unable to breach the trend line and is trading in red now. Until the prices close above 1.5060, use any dip to buy this week.

Support:1.5140,1.5095,1.5060

Resistance:1.5180,1.5225,1.5270

We recommend fresh buying above 1.5180

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 recommendations on GBP/USD for February 04, 2015 . Thanks for your support.

Technical analysis and trading recommendations on GBP/JPY for February 04, 2015 Market Analysis Review

The UK released the construction data which turned out to be quite strong in January. The construction PMI index rose to 59.1 from a 17-month low at 57.6 in December. The cross has been consolidating for 4-weeks at 50Wsma. This week, the pair touched the 50Wsma and started reinforcement. After 8-weeks, the cross looks stronger. On the weekly chart, we can observe where exactly the pair touched the 50Wsma, it bounced from there and made a new high. In Monday's articles, we recommended buying above 177.70 with the targets at 178.20 and 179.40. At the early Asian session, the pound made a high at 178.38 against the yen, but was unable to breach the previous day's high. In case if the prices breach 178.38, bulls can challenge 178.55, 178.90, and 179.40. We recommend fresh buying above 178.40. We recommend putting long positions with a sl at 50Wsma or 175.45 on a weekly closing basis. On the weekly chart, the pair closed below the 20Wsma and made a minor double top at 180.53. Until the pair trades and closes above 177.10 and 177.00, use dips to buy which will be gainful in the intraweek. Intraday support exists at 178.00, 177.60, and 176.90. The prices gave an upside breakout from the falling expanding wedge pattern on the hourly chart. Today, the focus has shifted to UK's services PMI data. We are expecting an uptick from the data. In case if the positive readings take place, we can expect 179.40 in a day or two.

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 recommendations on GBP/JPY for February 04, 2015 . Thanks for your support.

Technical analysis of EUR/USD for February 04, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as Retail Sales m/m, Final Services PMI, Italian Services PMI, and Spanish Services PMI. The US will publish several economic reports too such as the Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change. So, amid the reports, EUR/USD will move with medium volatility during this day.



TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1517.

Strong Resistance:1.1510.

Original Resistance: 1.1499.

Inner Sell Area: 1.1488.

Target Inner Area: 1.1460.

Inner Buy Area: 1.1432.

Original Support: 1.1421.

Strong Support: 1.1410.

Breakout SELL Level: 1.1403.



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 February 04, 2015 . Thanks for your support.

Technical analysis of USD/JPY for February 04, 2015 Market Analysis Review

In Asia, Japan will release the Average Cash Earnings y/y. The US will publish several economic reports such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change. 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: 118.32.

Resistance. 2: 118.09.

Resistance. 1: 117.86.

Support. 1: 117.58.

Support. 2: 117.35.

Support. 3: 117.12.





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 February 04, 2015 . Thanks for your support.

Technical analysis of Silver for February 04, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver drops to sub $17.00/10 levels for now but still remains buy on dips. The bulls remain in control till prices remain above $16.50/60 levels and hence it is recommended to remain long and also add further positions on dips. The metal had bounced off the trend line support and just ahead of the fibonacci 0.618 levels as seen here. Immediate support is seen at $16.70 (interim), followed by $16.20, $15.50 and lower while resistance is seen at $18.20 levels (interim), followed by $18.40/50, $18.90 and higher respectively. Please note that the metal remains in the buy zone of trend line support and shall remain bullish till prices remain above $16.60 levels.

Trading recommendations:

Remain long, add further on dips, stop at $15.50, the target is seen at $18.90 and $21.00.

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 Silver for February 04, 2015 . Thanks for your support.

Daily analysis of USDX for February 04, 2015 Market Analysis Review

On the daily chart, the USDX had a very bearish day during yesterday's session, as this instrument is performing a bearish consolidation below the level of 94.18. That opened the way for a test at the support level of 93.02. If the USDX breaks that zone, it would be expected to visit the 92.23 level in the medium term.

The USDX is currently located below the 200 SMA on the H1 chart, with a lower low pattern formation. Now, the USDX finds support at the level of 93.49 and currently those movements could jeopardize the strong bullish intraday bias that the instrument had during last weeks. If the USDX does a bearish consolidation below the support level of 93.49, the next target would be the level of 93.05.

Daily chart's resistance levels: 94.18 / 95.45

Dailychart's support levels: 93.02 / 92.23

H1 chart's resistance levels: 93.94 / 94.38

H1 chart's support levels: 93.49 / 93.05

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 93.49, take profit is at 93.05, and stop loss is at 93.94.

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 February 04, 2015 . Thanks for your support.

Daily analysis of GBP/USD for February 04, 2015 Market Analysis Review

The GBP/USD pair had a strong bullish momentum above the support level of 1.5025, where it seems to be a clear rejection of the pair from that support zone. Now, the current target is set at the resistance level of 1.5247, which could be stronger and produce a pullback on the GBP/USD pair. But as the bullish momentum remains alive, the pair could breakt that level and rise to the 1.5491 in the medium term.

As we can see on the H1 chart, the GBP/USD pair won positions above the 200 SMA, which is currently pointing upwards. Now, the pair is forming a higher high pattern that could help to perform a bullish consolidation above the resistance level of 1.5161, with a short-term target placed at the 1.5211 level. The MACD indicator stays in the positive territory.

Daily chart's resistance levels: 1.5247 / 1.5491

Dailychart's support levels: 1.5025 / 1.4853

H1 chart's resistance levels: 1.5161 / 1.5211

H1 chart's support levels: 1.5110 / 1.5084

Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5161, take profit is at 1.5211, and stop loss is at 1.5111.

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 February 04, 2015 . Thanks for your support.

Technical analysis of Gold for February 04, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold drops to test intermediary lows at $1,250.00 levels as seen here. The metal still remains in control of bulls till prices remain above $1,250.00. It is recommended to remain long and also look to add further positions at current levels. A bullish bounce is expected from current levels, which could push the yellow metal through fresh swing highs and subsequently towards $1,340.00. Please note that the yellow metal had bounced off the fibonacci 0.382 support at $1,250.00 levels earlier and the current drop is still considered as a test. Bulls are poised to rally.

Trading recommendations:

Remain long, stop at $1,245.00, the target is $1,340.00.

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 February 04, 2015 . Thanks for your support.

Daily analysis of major pairs for February 4, 2015 Market Analysis Review

EUR/USD: The EUR/USD pair has been trending upwards since yesterday, breaking through the resistance line at 1.1500. With further buying pressure, the price would close above the resistance line at 1.1500 and reach another resistance line at 1.1550. Then, a strong Bullish Confirmation Pattern would be formed on the chart.

USD/CHF: The outlook for the USD/CHF pair remains upbeat in the context of a downtrend. The price is supposed to continue going upwards in a slow and steady manner by at least 500 pips this month. Along the way, occasional serious pullbacks are expected which would, nevertheless, be transient in nature.

GBP/USD: In a welcome positive correlation with the EUR/USD pair, GBP/USD has also moved upwards since yesterday. The price is above the accumulation territory at 1.5150, and it may soon reach the distribution territory at 1.5200. A movement above the distribution territory at 1.5250 would result in a clear bullish outlook in the market.

USD/JPY: The outlook for the USD/JPY pair is still the same.There was no much activity in this market last week, save occasional short-term upswings and downswings in the market. This week, either the supply level at 119.00 is to be breached to the upside or the demand level at 117.00 is to be broken to the downside. The bullish outlook is more probable.

EUR/JPY: This market has been making an attempt to go northward – a movement of over 280 pips in two days is noteworthy. It is expected that the price would soon go above the supply zone at 136.00. By then, the EMA 11 would have crossed the EMA 56 to the upside, as the RSI period 14 has crossed the level 50 to the upside.

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 February 4, 2015 . Thanks for your support.

USDCAD Daily Analysis - February 4, 2015 Forex Analysis

USDCAD broke below 1.2380 support, indicating that the uptrend from 1.1803 had completed at 1.2797 already. Range trading between 1.2200 and 1.2797 would likely be seen over the next several days.

For more short term forex analysis and info visit via USDCAD Daily Analysis - February 4, 2015 . Thanks for your support.

USDJPY Daily Analysis - February 4, 2015 Forex Analysis

USDJPY is facing the resistance of the price channel on 4-hour chart, a clear break above the channel resistance will indicate that the uptrend from 115.85 has resumed, then the following upward movement could bring price to test 120.82 resistance.

For more short term forex analysis and info visit via USDJPY Daily Analysis - February 4, 2015 . Thanks for your support.

AUDUSD Daily Analysis - February 4, 2015 Forex Analysis

AUDUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 0.8294. As long as the trend line resistance holds, the rise from 0.7625 could be treated as consolidation of the downtrend, and another fall towards 0.7500 is still possible after consolidation.

For more short term forex analysis and info visit via AUDUSD Daily Analysis - February 4, 2015 . Thanks for your support.

GBPUSD Daily Analysis - February 4, 2015 Forex Analysis

GBPUSD stays in the trading range between 1.4950 and 1.5268. As long as 1.5268 resistance holds, the price action from 1.5034 could be treated as consolidation of the downtrend from 1.5785 (Dec 16, 2014 high), and another fall towards 1.4500 is still possible after consolidation.

For more short term forex analysis and info visit via GBPUSD Daily Analysis - February 4, 2015 . Thanks for your support.

EURUSD Daily Analysis - February 4, 2015 Forex Analysis

EURUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.2569 (Dec 16, 2014 high) had completed at 1.1097 already. Range trading between 1.1097 and 1.1650 would likely be seen over the next several days. However, as long as 1.1650 resistance holds, rise from 1.1097 would possibly be consolidation of the downtrend, another fall towards 1.0500 could be expected after consolidation.

For more short term forex analysis and info visit via EURUSD Daily Analysis - February 4, 2015 . Thanks for your support.

Technical analysis of USD/JPY for February 03, 2015 Market Analysis Review

Fundamental overview:
USD/JPY is expected to consolidate. It is underpinned by the reduced safe-haven appeal of the yen amid improved global risk sentiment (VIX fear gauge eased 7.34% to 19.43; S&P 500 closed 1.3% higher at 2,020.85 overnight) as oil prices surged for the second day straight and investors shook off the data showing slowing activity in the U.S. and China's manufacturing sectors. USD/JPY is also supported by the demand from Japan's importers and the ultra-loose Bank of Japan's monetary policy. But USD/JPY upside is limited by the Japanese exports and the weaker dollar sentiment (ICE spot dollar index last 94.57 versus 94.67 early Monday) on worse than expected drop in the U.S. ISM manufacturing PMI to 53.5 in January (versus forecast 54.3) from 55.1 in December and by weaker than expected 0.4% rise in the U.S. December construction spending (versus forecast +0.8%).

Technical comment:
The daily chart is mixed as the MACD is bearish, but stochastics is neutral; five- and 15-day moving averages are meandering sideways.

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 117. A break of this target will move the pair further downward to 116.55. The pivot point stands at 117.75. 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 118.20 and the second target at 118.45.

Resistance levels:

118.20

118.45

118.75

Support levels:

117

116.55

116.80

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 February 03, 2015 . Thanks for your support.

Technical analysis of USD/CHF for February 03, 2015 Market Analysis Review

Fundamental overview:

USD/CHF is expected to consolidate with bullish bias after hitting a two-week high 0.9347 on Monday. It is supported by the franc sales on cross trades versus major currencies, the negative Swiss interest rates, the threat of the SNB CHF-selling intervention and bigger than expected drop in Switzerland's PMI to 48.2 in January from revised 53.6 in December (versus forecast 49.2). But the USD/CHF gains are also tempered by the weaker USD sentiment.

Technical comment:
The daily chart is positive-biased as the MACD and stochastics are bullish; five-day moving average above 15-day moving average and advancing.

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 0.9365 and the second target at 0.9435. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9075. A break of this target would push the pair further downwards, and one may expect the second target at 0.8985. The pivot point is at 0.9150.

Resistance levels:

0.9365

0.9435

0.9465

Support levels:

0.9075

0.8985

0.8935

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 February 03, 2015 . Thanks for your support.

Technical analysis of EUR/JPY for February 03, 2015 Market Analysis Review

Technical outlook and chart setups:

An hourly chart of EUR/JPY has been depicted here, which confirms that the pair continues to range trade between 132.00 (Support) and 134.00 (Resistance) since several trading sessions. The pair is expected to break higher above the levels of 134.00 and reach 137.50/138.00 soon enough. On the flip side, a break below 132.00 and subsequently 131.00 could prove to be extremely bearish and test 130.00 handle again. Probability remains high for a break higher, hence it is recommended to hold long positions, risk at 130.00. Support for now is 132.00, followed by 131.50 and lower while resistance is at 134.00, followed by 137.50/138.00, respectively.

Trading recommendations:

Remain long for now, stop at 130.00, target 138.00

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 February 03, 2015 . Thanks for your support.

Technical analysis of NZD/USD for February 03, 2015 Market Analysis Review

Fundamental overview:
NZD/USD is expected to trade in a higher range. It is underpinned by the weaker USD sentiment, kiwi demand on buoyant NZD/JPY cross amid reduced risk aversion and the kiwi demand on soft AUD/NZD cross. But the NZD/USD gains are tempered by the shift in the Reserve Bank of New Zealand's monetary stance from tightening bias to neutral.

Technical comment:

The daily chart is still negative-biased as the MACD is bearish, stochastics stays suppressed at oversold levels and five- and 15-day moving averages 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 0.7160. A break of this target will move the pair further downward to 0.71. The pivot point stands at 0.7315. 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 0.7360 and the second target at 0.7440.

Resistance levels:

0.7360

0.7440

0.7465



Support levels:

0.7160

0.71

0.7040

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 February 03, 2015 . Thanks for your support.

Technical analysis of GBP/CHF for February 03, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is trading at 1.3960/70 for now and is expected to push higher towards Fibonacci 0.618 levels at 1.4100, we have been discussing this for few days now. It is recommended to remain long from position taken earlier, risk remains just below 1.3800 for now. Immediate support is seen at the levels of 1.3800, followed by 1.3650, 1.3450, 1.3350/3400, while resistance is seen at 1.4100 and higher, respectively. After breaking lower towards the levels of 1.1800 earlier and consolidating in a trading range, the pair has broken higher, aiming at least the 1.4100 mark. Bulls are favored untill the prices remain above 1.3800 and subsequently 1.3400.

Trading recommendations:

Remain long; stop is at 1.3800, target is at 1.4100.

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 February 03, 2015 . Thanks for your support.

Gold analysis for February 03, 2015 Market Analysis Review

Overview :

Since our last analysis gold has been trading upwards. As we expected, the price has tested the level of 1,285.72 in an average volume. We are facing low volatility today so any larger demand in a high volume may confirm further bullish phase. According to the H4 time frame, we got selling climax in the background, what caused the price to start with an upward movement. Our submajor Fibonacci retracement 38.2% at the price of 1,254.00 has been held successfully which is a sign that selling gold at this stage looks risky. Anyway, if the price breaks the level of 1,254.00 in a strong volume, we may see a possible testing of the level of 1,240.00 (Fibonacci expansion 161.8%). Resistance level is around the price of 1,307.00 (swing high like resistance).

Daily Fibonacci pivot points :

Resistance levels :

R1: 1,282.42

R2: 1,286.52

R3: 1,293.72

Support levels :

S1: 1,269.12

S2: 1,265.02

S3: 1,258.37

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

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 analysis for February 03, 2015 . Thanks for your support.

EUR/NZD : analysis for February 03, 2015 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading upwards. As we expected, the price tested the level of 1.5777. Our Fibonacci retracement 61.8% around the price of 1.5800 is on the test. Be careful when buying EUR/NZD at this stage. Anyway, if the price breaks the level of 1.5810 in a high volume and strong price action, we may see possible testing of the level of 1.6320. According to the 4H time frame, we can observe demand in an ultra high volume in the background (buying climax) and later on weak demand, which is a sign that buying look risky.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5609

R2: 1.5641

R3: 1.5693

Support levels:

S1: 1.5504

S2: 1.5472

S3: 1.5419

Trading recommendations: Be careful when buying at this stage, but watch for potential buying opportunities after retracement (buy on the dips)

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 EUR/NZD : analysis for February 03, 2015 . Thanks for your support.

Technical analysis of GBP/JPY for Feburary 03, 2015 Market Analysis Review

Fundamental overview:
GBP/JPY is expected to trade in a higher range. It is supported by the improved euro sentiment as worries over Greece diminish receding investor risk aversion and by the demand from Japan's importers. The GBP sentiment is boosted by a rise in the CIPS / Markit U.K. manufacturing PMI to 53.0 in January (versus forecast 52.6) from revised 52.7 in December (originally reported as 52.5). But the GBP/JPY gains are tempered by the Japanese exporter sales.

Technical comment:
The daily chart is tilting positive as stochastics is rising from oversold levels, the MACD is staging bullish crossover against its exponential moving average.

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 175.50. A break of this target will move the pair further downward to 175. The pivot point stands at 177.10. 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 177.70 and the second target at 178.55.

Resistance levels:

177.70

178.55

179.

Support levels:

175.50

175

174.25

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 Feburary 03, 2015 . Thanks for your support.

Technical analysis of EUR/USD for February 3, 2015 Market Analysis Review

Trading recommendations :

• The support of the EUR/USD pair has already set at 1.1270 on February 3, 2015. In the short term, the weekly pivot is acting as a support for a while. Furthermore, it will be very profitable to buy above this level for retesting this level in the long term. Therefore, buy deals are recommended above the level of 1.1270 with targets at 1.1360 and 1.1422 to reach the double top on the H1 chart. On the contrary, the resistance is going to set at the level of 1.1439 (the level of 1.1439 is representing the weekly resistance 1) this week. Consequently, the descending movement will probably be lower than the level of 1.1456 which represents the ratio of 61.8% of Fibonacci retracement levels at the same time frame, with the targets at the weekly pivot point around the area of 1.1268 and 1.1206.

Observations :

• We expect a new range about 64-75 pips today.


• The key level will be set at the level of 1.1268.


• The support of the EUR/USD pair has been already set at 1.1268. Moreover, the major support will set at the 1.1206 level.


• If the trend fails to close below the level of 1.1268, it will be a good opportunity to buy above 1.1270 with the first target at 1.13,60 then it will be continued straight towards 1.1422.


• The price of 1.1439 is representing the weekly resistance 1 and 1.1422 is going to form a double top.

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 February 3, 2015 . Thanks for your support.

Technical analysis of USD/CAD for February 3, 2015 Market Analysis Review

Overview :

• As expected, the USD/CAD pair has rebounded from the level of 1.2427, and showed signs of strength after it. Additionally, the resistance was broken and turned into support at the same key level (1.2427). On the H1 chart, the level of 1.2427 is representing strong support which coincides with the 61.8% of Fibonacci retracement level. It is equally important that the price has been set above the support since last month because the market was calling for strong bullish trend. Consequently, the pair has already formed the strong support at 1.2430 and it should also be noted that the double bottom is going to be set around this area. Furthermore, the price has been still moving between 1.2430 and 1.2690. Therefore, the USD/CAD pair started showing the signs of bullish market, so the market indicates the bullish opportunity at the level of 1.2430 with the first target of 1.2612, and continues towards the level of 1.2690 again. On the other hand, the stop loss should always be taken into account. From now on, it will be wise to set your stop loss at the price of 1.2435.

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 February 3, 2015 . Thanks for your support.

#USDX technical analysis for February 3, 2015 Market Analysis Review

The Dollar index continues to trade above the short-term Ichimoku cloud support and, I believe, we are in a phase where the uptrend has paused and we should soon see a new uptrend start. The triangle pattern in the short-term implies that the waiting will soon end.

Green lines = triangle pattern

The Dollar index made a low at the 38% Fibonacci retracement and since then it is moving higher and sideways forming a triangle pattern and at the same time holding above the Ichimoku cloud support. Resistance is at 95 and support is at 94.40. Breaking below the 38% retracement will increase the chances of a deep pullback towards 93.

On the daily chart, as shown above, the Dollar index remains above the tenkan-sen support. The price action implies that we are currently in a sideways corrective move as a pause to the bigger bullish trend that could bring the index towards 100 if the level of 95.50 is broken and if the support at 92 is held.

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 February 3, 2015 . Thanks for your support.

Gold technical analysis for February 3, 2015 Market Analysis Review

Gold price continues to trade in a neutral range for the short-term increasing the chances that we are currently in a consolidation range before a new upward move towards $1,330. Gold price has short-term support at $1,250 and short-term resistance at $1,288.

Green line = support

Black line = resistance

The gold price is trying to move back above the Ichimoku cloud and the black line resistance. If Gold price manages to break above those two resistance levels, I would expect a final leg up towards $1,330. If, on the other hand, we see a rejection at the current price levels and the gold price breaks below $1,250, we should expect a move towards $1,220 or even below $1,200.

Red lines = horizontal support levels

Gold price has bounced off the 38% Fibonacci retracement and as long as it holds above it we have more chances of seeing new highs towards $1,330. So bulls should use $1,250 as a stop reverse level that and if it is broken, traders should prefer short positions with $1,220 as the first target.

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 February 3, 2015 . Thanks for your support.

Technical analysis of USD/CAD for Febuary 3, 2015 Market Analysis Review

General overview foe 03/02/2015 09:40 CET

The yesterday's intraday support has been violated and currently it looks like a sharp downward correction is taking place. The wave a green has been made and now the second corrective wave is in progress. The market still trades inside the bullish zone, but any breakout below the today's intraday support at the level of 1.2553 is bearish and the golden trend line might be tested sooner or later as the market falls into the range zone again.

Support/Resistance:

1.2897 - WR1

1.2799 - Swing High

1.2648 - Intraday Resistance

1.2636 - Weekly Pivot

1.2553 - Intraday Support

1.2474 - WS1

Trading recommendations:

Daytraders should consider opening a sell stop orders from the level of 1.2549 with SL above the level of 1.2648 and TP at the level of 1.2474. It is not a good level to open long-term swing buy positions.

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 Febuary 3, 2015 . Thanks for your support.

Technical analysis of EUR/JPY for Febuary 3, 2015 Market Analysis Review

General overview for 03/02/2015 09:20 CET

The market is still moving inside the range between the levels of 132.38 - 134.33, and only an impulsive breakout above one of these levels would give more clues about further price development. Nevertheless, the bias is slightly bullish because the corrective wave progression does not look completed just yet and it is quite possible, that the wave (c) blue to the upside will be made sooner or later. The current corrective structure in wave (b) blue looks like a triangle pattern but it can change into even more complex and time-consuming cycle. Please watch the mentioned levels and trade accordingly.

Support/Resistance:

137.64 - Technical Resistance

136.58 - WR2

134.59 - WR1

134.33 - Intraday Resistance

132.37 - Intraday Support

130.39 - WS1

Trading recommendations:

Because the market is still in the range zone, my recommendations are still the same as yesterday: daytraders should consider opening a buy stop orders from the level of 134.35 with SL below the level of 134.31 and TP at the level of 136.05 with a possible extension to the level of 137.64 later on.

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 Febuary 3, 2015 . Thanks for your support.

Technical analysis of Silver for February 03, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver bounced from $16.70 levels on Jan 30, and remained shy by few cents to hit the Fibonacci 0.618 support as seen here. Nevertheless, the metal has resumed rally above the levels of $17.50 as of now, and bulls remain poised to extend further gains here, as it was expected. It is highly recommended to remain long for now, and risk is below $16.00. Immediate support is seen at $16.70 (interim), followed by $16.50, $16.20 and lower while resistance is seen at the levels of $18.20 followed by $18.50, $18.90 and higher, respectively. A push beyond $17.80 levels now (trend line resistance passing), would be extremely bullish and confirm that bulls shall remain in control.

Trading recommendations:

Remain long for now; stop is at $16.00, target is $18.90 and $21.00

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 Silver for February 03, 2015 . Thanks for your support.

Technical analysis of Gold for February 03, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold had dropped lower to $1,265.00 levels yesterday before rallying higher back towards $1,280.00 levels as seen here. The metal seems to be preparing to break above $1,285.00 (intermediary resistance trend line) and subsequently head towards $1,340.00 levels. It is highly recommended to remain long in the yellow metal for now, risk remains below $1,245.00. Immediate support is seen at $1,265.00 levels (interim), followed by $1,250.00, $1,220.00 and lower while resistance is seen at $1,295.00 levels (interim), followed by $1,307.00 and higher respectively. Bulls are in control at least until prices remain above $1,250.00.

Trading recommendations:

Remain long, stop at $1,245.00, the target is at least $1,340.00/50.00.

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 February 03, 2015 . Thanks for your support.

Forecast and trading recommendations on GBP/JPY for February 03, 2015 Market Analysis Review

The cross has been consolidating for 4 consecutive weeks between 180.55 and 175.83 this week. The pair has strong support at 175.30 and 50Wsma. On the weekly chart, the pair closed below the 20Wsma and made a minor double top at 180.53. The pair is being rejected at 20Dsma 4 days in a row. On the daily and hourly charts, nothing has happened yet. The prices are making lower lows as well as a lower top formation on the h4 chart. The prices are closed and trading below the hourly moving averages. Today, at the early Asian session, the pair was rejected at 35DEMA on the h4 chart. In case the prices close below the lower end of the descending line of the triangle, bears can face a challenge towards 173.50. This week, we recommend selling below 175.30; safe selling will be triggered only below 175.00. The intraday resistance exists between 174.50 and 178.10. Today, the focus has shifted to UK's manufacturing PMI data. As of now, the cross favours a pullback towards 177.20 and 177.50. We recommend fresh buying only above 177.70 with the targets at 178.20 and 179.40.

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 Forecast and trading recommendations on GBP/JPY for February 03, 2015 . Thanks for your support.

Forecast of USD/JPY for Febraury 03 , 2015 Market Analysis Review

The US PMI registered 53.5 percent, a decrease of 1.6 percentage points from December’s seasonally adjusted reading of 55.1 percent. Now, the focus has shifted to tomorrows ADP non-farm payroll. The pair has been still consolidating in the tight range as we discussed in our earlier reports. The prices are trading within a triangle on the H4 chart. In case if the prices manage to give an upside breakout, it can face a challenge towards 120.50. The prices are closed and trading below the hourly moving averages. The prices are likely to form a triangle pattern. The support base exists at 115.50 and 115.00. The weekly support exists at 115.00 which is 20Wsma. In case if the pair closes below 115.00, we can confirm the broadening top for the near and medium term. The rate hike bets favours to the US dollar. The policy makers have repeatedly announced their plan to raise interest rates during 2015.The pair closed and is trading below 50Dsma at 118.70. In case the pair closes above 118.85, it can challenge 119.90 and 120.50. In intraday, weakness will hit the pair if the prices break below 116.90.

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 Forecast of USD/JPY for Febraury 03 , 2015 . Thanks for your support.