03/23/15 ~ Best and Easy Analyst News

Monday 23 March 2015

Technical analysis of USD/JPY for March 24, 2015 Market Analysis Review

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In Asia, Japan is going to release data on the Flash Manufacturing PMI. The US is expected to publish economic data about Crude Oil Inventories, New Home Sales, Flash Manufacturing PMI, HPI m/m, Core CPI m/m, and CPI m/m. So, there is a strong probability that 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: 120.37.

Resistance. 2: 120.14.

Resistance. 1: 119.91.

Support. 1: 119.62.

Support. 2: 119.39.

Support. 3: 119.15.

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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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/JPY for March 24, 2015 . Thanks for your support.

Daily analysis of major pairs for March 24, 2015 Market Analysis Review

EUR/USD: This pair moved upwards by 150 pips on Monday, hitting the resistance line at 1.0950 before a shallow pullback. The resistance line would be overcome soon as the market targets another resistance line at 1.1000, which may also be breached easily as the market continues to be strong.

USD/CHF: As it was expected, the USD/CHF pair continues to go further downwards, as opposed to the bullish movement in the EUR/USD pair. Now, we are watching the support levels at 0.9600 and 0.9550, which may be attained this week as long as this pair is weak.

GBP/USD: The bullish movement on the cable is shallow compared with the EUR/USD pair. Although, there is a great threat to the recent Bearish Confirmation Pattern in the market. It is not going to be invalidated until the price crosses the distribution territories at 1.5000 and 1.5050 to the upside.

USD/JPY: This market has continued to show more and more weakness; slowly and gradually. The demand levels at 119.50 and 119.00 may be tested soon but they may do a good job in halting further bearish development. The outlook for this pair is bullish for this week. The price could rally anytime, provided that it is still above the aforementioned demand levels. Should they breach the demand levels to the downside, the bullish expectation could be rendered illogical.

EUR/JPY: This currency trading instrument has been able to hold onto its bullishness, owing to the recent strength in the euro. This perpetual bullishness, which has been taking place since last week, has succeeded in affecting a clean bullish outlook on the market. This may just be the beginning of a serious bullish journey.

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For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of major pairs for March 24, 2015 . Thanks for your support.

USDCAD Daily Analysis - March 24, 2015 Forex Analysis

USDCAD is facing 1.2447 support, as long as this level holds, the sideways movement in a range between 1.2447 and 1.2835could be expected to continue. On the downside, a breakdown below 1.2447 support will indicate that the downtrend from 1.2835 has resumed, then the following downward movement could bring price to 1.2300 area.

For more short term forex analysis and info visit via USDCAD Daily Analysis - March 24, 2015 . Thanks for your support.

USDJPY Daily Analysis - March 24, 2015 Forex Analysis

USDJPY is facing 119.29 support, a breakdown below this level will indicate that the downtrend from 122.02 has resumed, then next target would be at 118.00 area. Resistance levels are at 121.20 and 122.02, only break above this level could trigger another rise towards 125.00.

For more short term forex analysis and info visit via USDJPY Daily Analysis - March 24, 2015 . Thanks for your support.

AUDUSD Daily Analysis - March 24, 2015 Forex Analysis

AUDUSD is facing 0.7912 resistance, as long as this level holds, the sideways movement in a range between 0.7560 and 0.7912 could be expected to continue, and another fall towards 0.7000 is possible after consolidation. On the upside, a break of 0.7912 resistance will indicate that the uptrend from 0.7560 has resumed, then next target would be at 0.8000 zone.

For more short term forex analysis and info visit via AUDUSD Daily Analysis - March 24, 2015 . Thanks for your support.

GBPUSD Daily Analysis - March 24, 2015 Forex Analysis

GBPUSD is forming a sideways consolidation in a range between 1.4634 and 1.5162. As long as 1.5162 resistance holds, the sideways movement could be expected to continue over the next several days, and another fall towards 1.4000 is possible after consolidation.

For more short term forex analysis and info visit via GBPUSD Daily Analysis - March 24, 2015 . Thanks for your support.

EURUSD Daily Analysis - March 24, 2015 Forex Analysis

EURUSD is facing 1.1045 resistance, as long as this level holds, the sideways movement in a range between 1.0462 and 1.1045 could be expected to continue. However, a break of 1.1045 resistance will indicate that the uptrend from 1.0462 has resumed, then next target would be at 1.1200.

For more short term forex analysis and info visit via EURUSD Daily Analysis - March 24, 2015 . Thanks for your support.

Intraday technical levels and trading recommendations for GBP/USD for March 23, 2015 Market Analysis Review

The market has previously established a consolidation zone around 1.4960 which extended up to 1.5280. This was followed by a transient uptrend maintained within the depicted channel.

Bulls managed to push towards higher levels including 1.5550 (just below the weekly supply level).

Significant bearish pressure was applied around 1.5550 resulting in formation of multiple bearish engulfing daily and weekly candlesticks.

Significant demand levels located around 1.5200 and 1.5000 were recently breached indicating a strong bearish tendency on the market.

Yesterday, significant bullish rejection was expressed around 1.4700 (WEEKLY LOW). A bullish engulfing DAILY candlestick was expressed by the end of the day.

As anticipated, the price zone of 1.4960-1.5000 was expected to provide significant SUPPLY for retesting. It corresponds to the upper limit of the long-term depicted channel as well as a broken WEEKLY DEMAND established on January 2015.

Recently, the GBP/USD bulls failed to defend their demand zone around 1.4960-1.5000 which was breached two weeks ago.

Evident bullish recovery was manifested on the H4 chart near the price levels around 1.4700 (WEEKLY low).

Fixation above 1.4700-1.4720 enhanced the bullish side of the market allowing another bullish swing towards 1.4990 to take place.

On the other hand, conservative traders should wait for a bullish pullback towards the price zone of 1.5050-1.5100 (recent SUPPLY zone) for a low-risk sell entry. Stop loss should be located above 1.5150.

Conservative traders should note that the GBP/USD pair remains trapped between 1.4700 and 1.4970 until breakout occurs in either direction (transient consolidation range shouldn't be excluded).

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Intraday technical levels and trading recommendations for EUR/USD for March 23, 2015 Market Analysis Review

The market has been pushing lower aggressively after breaking below major demand levels around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010.

The EUR/USD pair has lost almost 1600 pips since the beginning of 2015. This week, the EUR/USD pair has been pushed further below monthly demand around 1.0550 (established on January 1997) where some bullish recovery is expected to exist.

On the other hand, theoretical long-term bearish targets would be located near 0.9450. That is why the price action should be watched around the current monthly demand level looking for monthly closure below 1.0570 (significant bottom that goes back to 1997).

A bearish Flag pattern was established on the daily chart. The daily fixation below the price level of 1.1260 (minor consolidation range) confirmed that bearish pattern.

Obvious bearish breakdown of the weekly demand level at 1.1100 enhanced the bearish side of the market exposing lower targets initially around 1.0800.

Full projection targets for the Flag pattern were successfully reached around 1.0800 and 1.0500.

As anticipated, after such a long bearish rally (which started off 1.1300), sure signs of bullish rejection was anticipated around 1.0570 (monthly demand level).

Note that daily persistence above the price zone around 1.0630-1.0660 (achieved yesterday) indicates a quick corrective movement towards 1.1100 where a long-term sell position can be offered.

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For detail explanation and best discovery on daily market trends and news you may visit via Intraday technical levels and trading recommendations for EUR/USD for March 23, 2015 . Thanks for your support.

GBP/USD intraday technical levels and trading recommendations for March 23, 2015 Market Analysis Review

Overview:

On February 5, temporary bullish breakout above 1.5220 (previous consolidation range) took place. Shortly after, an ascending channel was established since price levels of 1.5170-1.5200 are indicating the bullish sentiment on the market.

A projected target for this bullish breakout has already been reached around 1.5550 where the previous daily bottoms were located (daily resistance).

Two weeks ago, the bearish breakdown of the lower limit of the depicted channel occurred enhancing the bearish side of the market and confirming the Flag pattern as bearish.

Significant bearish pressure was applied at the price level of 1.5200 (R2), then 1.4950 (R1 = broken weekly bottom).

Bearish persistence below 1.4950-1.5000 indicated a further bearish decline. Initial projection target for this bearish breakout was located at 1.4700.

Last week, GBP/USD bulls significantly managed to defend the recent bottom at 1.4700. Evident bullish rejection was expressed around 1.4630 resulting in the formation of a bullish Head and Shoulders reversal pattern.

Persistence above 1.4980-1.5000 (neck-line) is a must to confirm the pattern's projection target at 1.5200. Otherwise, the GBP/USD pair remains in a long-term downtrend as depicted on the WEEKLY chart.

Trading recommendations:

Risky traders can wait for H4 bullish breakout above 1.5000 for a short-term BUY entry with a quite good projection target.

T/P levels should be set at 1.5080, 1.5120 and finally at 1.5200. S/L should be set as DAILY closure below 1.4900.

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For detail explanation and best discovery on daily market trends and news you may visit via GBP/USD intraday technical levels and trading recommendations for March 23, 2015 . Thanks for your support.

Technical analysis of NZD/USD for March 23, 2015 Market Analysis Review

Overview :

The support of the NZD/USD pair is going to set at the level of 0.7529 on March 23, 2015. Also, it should be noticed that the level of 0.7529 is representing the key level of the NZD/USD pair this week, because it acts as a psychological price. Moreover, the market is still calling in uptrend from the level of 0.7529 since last week, for the reason that the resistance became the strong support. Consequently, the ascending movement will probably be higher than the level of 0.7530 with the targets at 0.7620 and 0.7737 in the coming days. The level of 0.7737 is the highest price. Accordingly, the pair is going to form the first double top in the H4 chart. However, the resistance is likely to be formed at the level of 0.7737. Furthermore, it will be very profitable to sell below this level for retesting this level in the short period. Therefore, sell deals are recommended below the 0.7737 level with targets at 0.7650 and 0.7520.

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of NZD/USD for March 23, 2015 . Thanks for your support.

USD/CAD intraday technical levels and trading recommendations for March 23, 2015 Market Analysis Review

Overview:

Since bulls have pushed further above the upper limit of both depicted bullish channels and the 79.6% Fibonacci level, the market looks quite overbought.

However, bullish pressure is still being expressed on the market as previous weekly closure came above 1.2550 (consolidation zone mid-line).

The nearest support level to meet the USD/CAD pair is located around 1.2370 (lower limit of the confirmed wedge pattern) and 1.2300 (79.6% Fibonacci level that provided significant SUPPORT for successive weeks on the DAILY chart).

Successive lower highs were established within the wedge-pattern depicted on the daily chart. However, the market price action indicated a bullish breakout above 1.2600-1.2660.

Yesterday, the market failed to persist above 1.2650 - 1.2680 (previous highs) resulting in bearish engulfing daily candlestick.

On the long-term, projection target for the wedge pattern would be located near price levels of 1.3060 (the origin of the last bearish swing initiated on March 2009).

Last week, the resulting WEEKLY candle came strongly bearish as the price zone of 1.2680-1.2650 applied significant bearish pressure at retesting.

Trading recommendations:

For risky traders, a bearish pullback towards 1.2560 offers a valid buy entry for those who missed the initial breakout. SL should be placed slightly below 1.2420.

Conservative traders should wait either for a pullback towards 1.2370-1.2300 for low-risk BUY entries or at least significant signs of bullish rejection around the current price levels (1.2550).

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For detail explanation and best discovery on daily market trends and news you may visit via USD/CAD intraday technical levels and trading recommendations for March 23, 2015 . Thanks for your support.

Technical analysis of USD/CHF for March 23, 2015 Market Analysis Review

Overview :

The trend of USD/CHF has been descending since yesterday; the strength of the currency will be defined as follows: USD is in uptrend and CHF is in downtrend. Additionally, according to the previous events, the price of the USD/CHF pair has still been moving between 0.9760 and 0.9671. Hence, we expect a new range about 89 pips today and 212 this week. Moreover, it should be noted that the resistance has already set at the level of 0.9822, which represents the ratio of 38.2% of Fibonacci retracement levels in the H1 chart. Therefore, it will be of the insight to sell in this area of 0.9822 with the first target at 0.9691 in order to try to break the minor support. Then, the price is likely to be able to continue in downtrend towards 0.9633 (the level of 0.9633 will be formed a double bottom at the same frame time). On the other hand, the stop losses should be placed above 0.9830 because the level of 0.9822 will confirm a bullish market on March 23, 2015.

Daily analysis of USDX for March 23, 2015 Market Analysis Review

Thanks to the pullback that the USDX did during the Friday's session, the current price is below the resistance level of 98.01. The move that could open the way to more falls to the support level of 96.60 is expected in the short term. The USDX is strong in the general bullish bias and we're not looking for the short side trades yet.

At the H1 chart, the USDX tries to stay above the support level of 97.19, but we're still in front of a possible bearish consolidation, as the index is trading below the 200 SMA. Of course, this consolidation is mentioned in a short term bias, as the USDX still has enough bullish momentum to do rallies towards new highs.

Daily chart's resistance levels: 98.01 / 99.19

Dailychart's support levels: 96.60 / 95.53

H1 chart's resistance levels: 99.13 / 100.01

H1 chart's support levels: 97.93 / 97.19

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 99.19, take profit is at 100.49, and stop loss is at 98.27.

Daily analysis of GBP/USD for March 23, 2015 Market Analysis Review

The rebound continues to take place on the GBP/USD pair, finding strong support at the level of 1.4820, with a resistance placed at the level of 1.4948. The pair continues to move in favor of the overall bearish bias, as we can see it at the daily chart. The bearish structure is also showing us a potential short trade, as the GBP/USD pair is forming a lower low pattern.

During the last Friday, the pair was rejected by the resistance level of 1.4984, where the GBP/USD pair did a pullback and its trying to stay below the 200 SMA at the H1 chart now. Eventually, the pair could break the support zone around 1.4842 and fall to the level of 1.4769. That move could strength the bearish bias during this week.

Daily chart's resistance levels: 1.4948 / 1.5087

Dailychart's support levels: 1.4820 / 1.4649

H1 chart's resistance levels: 1.4921 / 1.4984

H1 chart's support levels: 1.4842 / 1.4769

Trading recommendations for today: Based on the H1 chart, place short (sell) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4842, take profit is at 1.4769, and stop loss is at 1.4920.

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For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of GBP/USD for March 23, 2015 . Thanks for your support.

#USDX technical analysis for March 23, 2015 Market Analysis Review

The Dollar index is below short-term resistance and is testing last Wednesday's lows after the FOMC meeting. The dollar is showing signs of weakness but we have a higher low formed for now. This could turn into a nice bullish reversal if bulls step in. My longer-term view remains bullish but short-term trend is unclear.

Red line = resistance

Green line= medium-term resistance

The Dollar index made a strong upward reversal following a low after the FOMC meeting on Wednesday but resistance at 99.10 and 99.40 were not broken. The price got rejected and pulled back below the Ichimoku cloud. Short-term trend is unclear as long as we trade above 96.60. Breaking below the last Wednesday's low is likely to turn trend to bearish.

The weekly chart remains bullish as long as the price holds above last Wednesday's lows and the red line tenkan-sen. We got a rejection at the 61.8% retracement and we are testing support at the 50% retracement back. The next important support is at 92. Bulls need to be very cautious and I believe we could see a resumption of the uptrend after this short-term pullback.

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For detail explanation and best discovery on daily market trends and news you may visit via #USDX technical analysis for March 23, 2015 . Thanks for your support.

Gold technical analysis for March 23, 2015 Market Analysis Review

On Friday, Gold price broke above the Ichimoku cloud and trend line resistance was signaling that a bigger upward bounce could be expected over the new few days. Gold price has potential to reach $1,200-$1,220 as a corrective bounce. Huge weekly support is seen at $1,130. In case it gets broken, the price is likely to be pushed towards $1,000.

Green line = short-term support

Red lines= bullish channel

Black line = Medium-term resistance trend line

Gold price is trading inside a bullish short-term price channel shown in the 4 hour chart above by the two parallel red lines. Gold price has managed to break above the Ichimoku cloud. Do not forget that price was below this cloud since $1,265.

Blue line = huge support at $1,130

Orange lines= downward sloping channel

Gold price in a weekly basis remains in a downward sloping trend.The price is above critical support and a bounce could be justified from current levels. The important thing traders need to watch is a possible break below $1,130. This will give me a longer-term sell signal towards $1,000 or even $900.

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For detail explanation and best discovery on daily market trends and news you may visit via Gold technical analysis for March 23, 2015 . Thanks for your support.

Technical analysis of USD/CAD for March 23, 2015 Market Analysis Review

General overview for 23/03/2015 09:20 CET

The wave (ii) green bottom might be in place now. Any impulsive wave progression to the upside might indicate the uptrend is resuming. However, the first important confirmation of this wave progression comes with a descending golden trend line and the demand breakthrough zone breakout. Otherwise, the market might still be making more complex corrective cycle as it is indicated by an alternative blue count.

Support/Resistance:

1.2833 - Swing High

1.2765 - WR1

1.2698 - 1.2720 - Demand Breakthrough Zone

1.2657 - Intraday Resistance

1.2607 - Weekly Pivot

1.2540 - Intraday Support

Trading recommendations:

Daytraders should consider opening buy positions from current market levels with SL below the level of 1.2540 and TP at the level of 1.2673 with a possible extension upward to the level of 1.2698 - 1.2720.

Technical analysis of EUR/JPY for March 23, 2015 Market Analysis Review

General overview for 23/03/2015 09:00 CET

The current wave development follows the anticipated path. The corrective cycle in wave X brown looks completed now, the next cycle is to finish the wave Y brown to the upside. The market is currently trading around the weekly pivot at the level of 129.75 and the wave b green might be completed at this level. Nevertheless, the upward wave progression might happen only if the top of the wave a green is violated in an impulsive fashion. A lack of this kind of price action will indicate even more complex and time-consuming wave X brown.

Support/Resistance:

126.89 - Swing Low

127.78 - WS1

128.26 - Intraday Support

129.51 - Intraday Support

129.75 - Weekly Pivot

130.67 - Intraday Resistance

131.59 - 50%Fibo

131.64 - Intraday Resistance

131.84 - Technical Resistance

Trading recommendations:

Daytraders should consider opening buy positions only if the top of the wave a green is violated in an impulsive fashion. Otherwise, the market might still be making wave X brown.

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for March 23, 2015 . Thanks for your support.

Technical analysis and trading recommendations on GBP/USD for March 23, 2015 Market Analysis Review

The cable stopped its 2-week losing streak and closed at the previous swing low. Last Wednesday's trading range is the current cable trading range. Today, the cable also opened on a bearish note. The parallel resistance exists at 1.5035. We recommend strong buying only above 1.5035 towards 1.5100. We advise the bearish view again. Eventually, the pound looks weak against the USD ahead of the political challenge. The UK is slowly approaching its general election scheduled for May. Market participants expect the pound to get under a downward pressure. The cable gave an upside breakout from the bearish channel, but bulls hope it is short-lived. The cable settles in the same bearish channel. The cable has been closing around 1.4745 and 1.4750. A daily close is below 1.4745 and we can expect 1.4350 in the medium term. David Cameron said on Friday, EU leaders and officials will breathe "a sigh of relief" if he loses the national elections in May. Cameron said, “If you vote for anyone else, you are likely to get a prime minister who comes here and says, 'You can all relax, there will be no renegotiations, no referendum, no difficult choices, no difficult reforms – breathe a sigh of relief.' In case Cameron wins the upcoming election, he opts for the EU referendum. The pound is trading lower against the USD, euro, and yen at the Asian session today. Intraday support is found at 1.4910 and 1.4820. We recommend safe selling below 1.4820 with targets at 1.4725 and 1.4690. The panic will be triggered below 1.4690. Weekly support is set at 1.4800 and resistance seems at 1.5010 and 1.5035. Today, traders are expecting the CBI industrial order flash estimate. We recommend buying above 1.5040 with targets at 1.5100 and 1.5130.

To contact the author of this analysis, please email joseph.wind@analytics.instaforex.com.

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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 March 23, 2015 . Thanks for your support.

Technical analysis and trading recommendations on EUR/USD for March 23, 2015 Market Analysis Review

Short covering story was developed in the previous week, which helped the pair to recover 2% of its losses. The dovish Federal Reserve statement helped the euro to gain ground against the US dollar. As we expected, shocking upswing wild moves took place that informs us of short reinforcement. After the FOMC meeting, Greece's tensions again came to existence. Greece's Prime Minister Tsipras relies on EU funds. David Cameron said on Friday that EU leaders and officials will breathe "a sigh of relief" if he loses the general elections in May. Technically and fundamentally the euro looks bearish towards the 0.9000 levels.

Upcoming economic events:

Today, traders eye ECB President Draghi's speech in Brussels. Consumer confidence index is expected to give an uptick. It's been improving for the last 3 months. Besides, German Bundesbank monthly report is due. If Draghi's speech and Consumer confidence data deliver an optimistic view on the eurozone short, the single European currency will extend an upward bias to 1.1200. But the chances are remote.

Weekly technical view:

The pair has been facing strong resistance at 20Dsma. The pair has been rejected thrice from 20Dsma. At today's early Asian session, it was again rejected. The prices are closed and trading above hourly moving averages. Until the price closes above 1.0600, bulls are trying to hold their grip. This view is valid for this week. Weekly resistance seems at 1.0920, 1.1450, and 1.1635. Support is found at 1.0600 and 1.0460. In case the price closes below 1.0460, bears can challenge 1.000 and 0.9900 in the near term.

Intraday:

Support is found at 1.0700 and resistance seems at 1.0920. We recommend fresh buying only above 1.0920 with targets at 1.1000 and 1.1035. In case of the negative economic data, sell below 1.0700 with targets at 1.0620, 1.0600, 1.0580, and 1.0550. Panic will be triggered below 1.0580.

Trade: buying above 1.0920.

Selling below 1.0700.

Risky traders can sell with sl 1.0890.

To contact the author of this analysis, please email joseph.wind@analytics.instaforex.com

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 EUR/USD for March 23, 2015 . Thanks for your support.

Technical analysis of EUR/USD for March 23, 2015 Market Analysis Review

!EURUSD.jpg

When the European market opens, the major economic news to be released is the Consumer Confidence Index. The US will publish the economic data too such as the Existing Home Sales. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0876.

Strong Resistance:1.0870.

Original Resistance: 1.0859.

Inner Sell Area: 1.0848.

Target Inner Area: 1.0823.

Inner Buy Area: 1.0798.

Original Support: 1.0787.

Strong Support: 1.0776.

Breakout SELL Level: 1.0770.

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for March 23, 2015 . Thanks for your support.

Technical analysis of USD/JPY for March 23, 2015 Market Analysis Review

!USDJPY.jpg

In Asia, Japan will not release any economic data. However, the US is expected to publish data on Existing Home Sales. So, there is a strong probability that the USD/JPY pair will move with low volatility at the Asian session, but with low to medium volatility at the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.70.

Resistance. 2: 120.46.

Resistance. 1: 120.23.

Support. 1: 119.94.

Support. 2: 119.71.

Support. 3: 119.47

Technical analysis of EUR/JPY for March 23, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair met the trend line resistance at the level of 131.70 last week before pulling back lower again. The pair is currently trading at 129.70 and is likely to be pushed higher. A push above 132.00 is going to be be encouraging for bulls as trend line resistance will be broken and the pair will target towards the level of 136.50 at least. Immediate support is seen at the level 128.00 followed by 127.00, while resistance is seen at 136.50/137.00 and higher respectively on the daily chart view here.

Trading recommendations:

Remain long, stop at 127.00, target is open for now.

Good luck!

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for March 23, 2015 . Thanks for your support.

Technical analysis of GBP/CHF for March 23, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has been pulling back lower since hitting the levels of 1.540/50 earlier, as seen here. The pair seems to have stalled just ahead of the level of 1.4500 and could stage a rally from here. Minimum upside is seen at 1.5000 from the current price if not higher. It is recommended to hold long positions and add fresh to the current levels with risk below 1.4500. Immediate support is seen at 1.4400, followed by 1.4200, 1.4000, and lower while resistance is seen at 1.4900, followed by 1.5000 and 1.5140/50 respectively.

Trading recommendations:

Remain long, stop below 1.4500, target is open.

Good luck!

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/CHF for March 23, 2015 . Thanks for your support.