Technical analysis of GBP/USD for March 27, 2015 Market Analysis Review

Overview :

• Today, resistance and support have been set at the levels of 1.5093 and 1.4746 respectively. They are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. It should be noted that the daily pivot point is seen at the level of 1.4850 for that it will act as a psychological level. Therefore, the pivot lines work well on the sideways markets, as prices are most likely to be located between the resistance and support lines. Hence, according to the previous events, the GBP/USD pair is going to move between 1.5078 and 1.4753. So, our forecast will be the following:


• look for further downside below the prices of 1.4990 and 1.5030 with a target at 1.4850 and continue towards the level of 1.4750 in order to test weekly support on March 27 ,2015. On other hand, the stop loss should be placed at the 1.5105 price.

Intraday technical levels :

Date:26/03/2015

Pair:GBP/USD

• R3: 1.5147


• R2: 1.5071


• R1: 1.4959


• PP: 1.4883


• S1: 1.4771


• S2: 1.4695


• S3: 1.4583

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Technical analysis of NZD/USD for March 27, 2015 Market Analysis Review

Overview :

• The NZD/USD pair is likely to continue straight from 0.7515. Support at 0.7515 coincides with ratio of 00% Fibonacci retracement level in the H1 chart. Additionally, it is probably going to form a double bottom at the same level. Therefore, the kiwi shows signs of strength following the break through the highest levels of 0.7515 and 0.7550. So, it is going to be a good sign to buy above the support levels of 0.7515 and 0.7550 with the first target at 0.7603 in order to retest a weekly pivot point and further 0.9636 (it will act as strong resistance, it is going to be a good place to take profit, it also should be noted that the level to take profit will coincide at 88.2% of Fibonacci at the same time frame). It should be noted that another resistance is set at the level of 0.7696, which represents the double bottom. However, in case a reversal takes place and the NZD/USD pair breaks through the support level at 0.7550, the market will be led to further decline to 0.7466 in order to indicate the bearish market on March 27, 2015.

Observations :

• Stop loss should never exceed your maximum exposure amounts.


• Risk to reward ratios are important and should be calculated.

Example:

• A risk reward ratio of 1:1.5 is recommended:


• Risk of 60 pips should make a profit of 90 pips. 60 pips * 1:1.5 = 90 pips.

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EUR/NZD analysis for March 26, 2015 Market Analysis Review

Overview:

In our last analysis, EUR/NZD was trading upwards. As we expected, the price has tested the level of 1.4491 in a high volume. The short-term trend changed from bearish to neutral. We can observe reaction from our Fibonacci retracement 61.8% at the price of 1.4440. According to the M15 time frame, we have a buying climax in the background which is a sign that buying looks risky. My advice is to watch for potential selling opportunities after a retracement. Anyway, if the price breaks the level of 1,4440 in a high volume, we may see potential testing of the level of 1.4550.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4444

R2: 1.4492

R3: 1.4569

Support levels:

S1: 1.4290

S2: 1.4242

S3: 1.4165

Trading recommendations: Be careful when buying at this stage and watch for potential selling opportunities after a retracement.

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Gold analysis for March 26, 2015 Market Analysis Review

Overview :

Since our last analysis, gold has been trading upwards. As we expected, the price has tested the level of $1,219.51 in an ultra high volume. According to the 4H time frame, we can observe demand in an ultra high volume (buying climax) which is a sign that buying looks risky. The price rejected from our major Fibonacci retracement 38.2% ($1,205.00). If the price breaks the level of %1,220.00, we may see potential testing of the level of $1,244.00. Support level is around the price of $1,200.00.

Daily Fibonacci pivot points:

Resistance levels :

R1: 1,199.94

R2: 1,202.29

R3: 1,207.33

Support levels :

S1: 1,189.09

S2: 1,185.97

S3: 1,180.93

Trading recommendations: Be careful when buying gold at this stage since the price rejected from our Fibonacci retracement 38.2%

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

Fundamental Outlook:
USD/JPY is expected to trade in a lower range. It is undermined by the negative dollar sentiment (ICE spot dollar index last 96.92 versus 97.23 early Wednesday) after a surprise on-month drop of 1.4% in US February durable goods orders (versus forecast +0.2%). USD/JPY is also weighed by the Japanese exports, flows to the safe-haven yen and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 13.36% to 15.44, S&P 500 closed 1.46% lower at 2,061.05 overnight) as the weak data on US durable goods raised concerns about the US economic growth. The USD/JPY losses are tempered by the demand from Japan's importers, the ultra-loose Bank of Japan's monetary policy, and higher US Treasury yields (10-year at 1.928% versus 1.878% late Tuesday) after a $35-billion sale of five-year treasury notes met lacklustre demand.

Technical comment:
The daily chart is negative-biased as the MACD and stochastics are bearish, although the latter is at oversold levels, 5-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 118.65. A break of that target will move the pair further downwards to 118.25. The pivot point stands at 119.35. 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 119.95 and the second target at 120.30.

Resistance levels:

119.95

120.30

120.65

Support levels:

118.65

118.25

117.85

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Technical analysis of USD/CHF for March 26, 2015 Market Analysis Review

Fundamental overview:
USD/CHF is expected to range-trade. It is undermined by the negative dollar sentiment (ICE spot dollar index last 96.92 versus 97.23 early Wednesday) after a surprise on-month drop of 1.4% in US February durable goods orders (versus forecast +0.2%). The USD/CHF downside is limited by Swissie sales on the buoyant EUR/CHF cross, the negative Swiss interest rates and the threat of the Swiss National Bank to carry out CHF-selling intervention.

Technical comment:
The daily chart is still negative-biased as 5-day moving average is below 15-day moving average and is declining. The MACD and stochastics are bearish, although the latter is at oversold levels, while the inside-day-range pattern was completed on Wednesday.

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 0.9480. A break of that target will move the pair further downwards to 0.9440. The pivot point stands at 0.9635. 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 0.9720 and the second target at 0.9760.

Resistance levels:

0.9720

0.9760

0.9820

Support levels:

0.9480

0.9440

0.94

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Technical analysis of NZD/USD for March 26, 2015 Market Analysis Review

Fundamental overview:
NZD/USD is expected to trade in a lower range. It is undermined by kiwi sales on the soft NZD/JPY cross amid increased investor risk aversion and kiwi sales on the buoyant EUR/NZD, GBP/NZD crosses. The NZD/USD losses are tempered by the negative dollar sentiment.

Technical comment:

The daily chart is mixed as the MACD is bullish, 5-day moving average is above 15-day moving average and is advancing, but stochastics is turning bearish at overbought levels.

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 0.7530. A break of that target will move the pair further downwards to 0.7455. The pivot point stands at 0.7675. 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 0.7750 and the second target at 0.78.

Resistance levels:

0.7750

0.78

0.7845

Support levels:

0.7530

0.7455

0.7405

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Technical analysis of GBP/JPY for March 26, 2015 Market Analysis Review

Fundamental overview:
GBP/JPY is expected to range-trade. It is undermined by the increased investor risk aversion and Japan's exports. The GBP/JPY downside is limited by the demand from the Japanese importers and improved euro sentiment after the upbeat data on Germany's Ifo business confidence.

Technical comment:

The daily chart is still positive-biased as the MACD and stochastics are bullish, 5-day moving average is above 15-day moving average and is 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 176. A break of that target will move the pair further downwards to 175.45. The pivot point stands at 177.55. 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 that scenario, a long position is recommended with the first target at 178.30 and the second target at 179.30.

Resistance levels:

178.30

179.30

178.65

Support levels:
176

175.45

175

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GBP/USD intraday technical levels and trading recommendations for March 26, 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 at the price level of 1.5170-1.5200. This indicates 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 (solid 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 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 likely to extend the pattern's projection target at 1.5200.

Otherwise, the GBP/USD pair remains in the long-term downtrend as depicted on both the daily and weekly charts.

Trading recommendations:

Risky traders can wait for H4 bullish breakout above 1.5000 for a short-term buyentry.

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

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USD/CAD intraday technical levels and trading recommendations for March 26, 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 expressed as the 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. However, the market expressed a bullish breakout above 1.2550-1.2600 shortly after.

Earlier this week, the market failed to persist above 1.2650 - 1.2680 (previous highs) resulting in the formation of a double-top pattern that waits for confirmation (Daily closure below 1.2350).

On the long term, a projected target for the wedge pattern would be located near the price level of 1.3050 (the origin of the last bearish swing initiated on March 2009).

Last week, the resulting weekly candlestick came strongly negative as the price zone of 1.2680-1.2650 applied significant bearish pressure to retesting.

This indicates the bearish tendency of the market for the medium-term perspective. The nearest bearish targets would be located at 1.2150 and 1.2100.

Trading recommendations:

For risky traders, the current bearish pullback towards 1.2350 should be considered for a valid buy entry with Stop/Loss located slightly below 1.2300.

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Intraday technical levels and trading recommendations for GBP/USD for March 26, 2015 Market Analysis Review

The market has previously established a consolidation zone around 1.5000, 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 (weekly supply level) resulting in the formation of multiple bearish engulfing daily candlesticks followed by a steep bearish decline towards 1.4700.

Moreover, demand levels located around 1.5200 and 1.5000 failed to provide enough support for the GBP/USD pair.

Last week, strong bullish rejection was expressed around 1.4700 (weekly low). A significant bullish weekly candlestick was expressed by the end of the week.

As anticipated, the price zone arond 1.4960-1.5000 was expected to provide significant supply for retesting. It corresponds to the upper limit of the long-term depicted channel, 38.2% Fibonacci level and a broken weekly demand established on January 2015.

Note that daily persistence above the price level of 1.5090 (50% Fibo level) indicates a quick bullish spike towards price level of 1.5380 (projection target).

Recently, 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 a bullish side of the market allowing another bullish swing towards 1.4990 to take place.

Recently, the market failed to trade above the price level of 1.4970 so far (multiple tops are being expressed around 1.4970-1.5000).

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

However, a bullish pullback towards the price zone of 1.5080-1.5100 (recent supply zone) may be watched for a quick intraday sell entry. Stop loss should be located above 1.5150.

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Intraday technical levels and trading recommendations for EUR/USD for March 26, 2015 Market Analysis Review

The market has been pushed 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 already pushed slightly below monthly demand around 1.0550 (established on January 1997) where some bullish recovery was expected to exist.

The price action should is likely to be observed around the current monthly demand level looking for monthly closure below 1.0570 and theoretical long-term projection targets are seen near 0.9450.

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

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), bullish rejection existed around 1.0570 (MONTHLY DEMAND level). Since then, the EUR/USD pair has been moving towards 1.1140.

Daily persistence above the price zone of 1.0850-1.0860 (recent DEMAND zone) enhances the probability of a quick corrective movement towards 1.1100 where a long-term sell position can be offered.

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

Overview :

• Resistance of the EUR/USD pair was broken and it turned to support at the level of 1.0880 this week. The pair has already formed new strong support at the level of 1.0880. Moreover, after the pair has closed above this level today, it is signing the bullish market from 1.0880. Additionaly, the RSI has still called for uptrend at the level mentioned before. Consequently, the price of the EUR/USD pair indicates a bullish opportunity at the level of 1.0880 with the first target at 1.1041 in order to form a double top, and continues towards 1.1080 to test weekly resistance 1..


• However, in case a reversal takes place and the EUR/USD pair breaks through the new support level of 1.0880, the market will move to further decline to 1.0783 in coming two days.

Intraday technical levels :

Date and Time:26/03/2015 13:10

Pair:EUR/USD

• R3: 1.1136


• R2: 1.1074


• R1: 1.1023


• PP: 1.0961


• S1: 1.0910


• S2: 1.0848


• S3: 1.0797

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Technical analysis of AUD/USD for March 26, 2015 Market Analysis Review

Overview :

• The AUD/USD pair had a breakdown and extended further to as low as 0.7721 last week. But it closed at 0.7817 yesterday and the price has been placed above the 38.2% of Fibonacci retracement levels today. Additionally, it should be noted that the price had formed a strong support at the level of 0.7817. Furthermore, this strong level has still been moved between 38.2% of Fibonacci retracement levels and 61.8% in the H4 chart. Accordingly, the market is likely to start showing the signs of bullish market again in order to indicate a bullish opportunity in the short term from the level of 0.7817 with a target towards strong resistance around 0.7976, which coincides with the ratio of 61.8% Fibonacci. Meanwhile, bulls are going to be forced to pull back below this area. Thus, this level will act as a spot to sell in the long term. Hence, it will be a good sign to sell below strong resistance at 0.7976 with a target at 0.7890. It might resume to the 0.7807 in order to form a double bottom.

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

Our bearish outlook is now getting stronger on the daily chart as corrective moves continue to take in place on this time frame. The nearest support level is located at the zone of 95.53. That territory could offer some kind of buying zone in order to ride the overall bullish trend in the medium and long term. Currently, the MACD indicator is at negative territory.

On the H1 chart the bearish bias is very clear and now the USDX is trying to break the support level of 96.24. It seems that the instrument is very strong in the current trend and, probably, it doesn't form a solid lower low pattern. For now, while the USDX stays below the 200 SMA, we could look only for intraday short trades.

Daily chart's resistance levels: 96.60 / 98.01

Dailychart's support levels: 95.53 / 93.89

H1 chart's resistance levels: 96.63 / 97.19

H1 chart's support levels: 96.24 / 95.87

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 96.24, take profit is at 95.87, and stop loss is at 96.62.

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

There is the bullish momentum in the current bias on the daily chart because the GBP/USD pair is trying to perform a breakout at the resistance level of 1.4948 in order to reach the zone of 1.5087. Currently, our odds are in favor of the overall bearish trend because the current structure is showing us that the 200 SMA is bearish.

Now, on the H1 chart, GBP/USD is finding resistance at the level of 1.4984 after being trapped in a low-range zone in the half of the 200 SMA. Anyway, the pair is currently unable to trade in an intraday basis because GBP/USD could perform deeper pull backs to the support level of 1.4842 and later perform some kind of rebound.

Daily chart's resistance levels: 1.4948 / 1.5087

Dailychart's support levels: 1.4820 / 1.4649

H1 chart's resistance levels: 1.4984 / 1.5022

H1 chart's support levels: 1.4921 / 1.4842

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 1.4921, take profit is at 1.4842, and stop loss is at 1.5001.

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#USDX technical analysis for March 26, 2015 Market Analysis Review

The US dollar index remains in a short-term down trend and is now in danger of reversing of the longer-term bullish trend. The extended dollar weakness continues and this week will be critical. If this week ends with the index below 97, we should expect a move lower towards 93.

The USD index is now trading below the 61.8% retracement which is important support. The trend is bearish in the short term. The trend changes if we break above 97 which is the first short-term resistance. The cloud resistance at 98.60 is the important resistance level that if broken, will be an important medium-term buy signal.

The weekly chart is getting weaker. The price is testing the tenkan-sen support. If this week closes below 97 we should expect the US dollar index to move towards the kijun-sen over the next weeks towards 93. At the level of 93 we also find the 38% retracement of the entire upward move from 75. So we should not be surprised to see a sharp move lower over the next weeks.

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Gold technical analysis for March 26, 2015 Market Analysis Review

Gold price continues its upward move above $1,200 towards the weekly resistance of $1,215 by the kijun-sen. Gold price has given us a buy signal and a trend-changing signal since it broke above the Ichimoku cloud at $1,180 and the bounce target was the area of $1,200-$1,220. My longer-term view remains bearish and, I believe, soon we will see a downward reversal.

Red line = support

Gold price is in a short-term bullish trend. The price is above the Ichimoku cloud. Support is at $1,193 and I will get a sell signal if that level is broken. I did not expect Gold price to move this high on the fisrt try. I expected a pullback to $1,175 and then a push above $1,200 but it seems that the market wants the price to go towards $1,220 straight away.

As the weekly chart shows, gold price is now testing the kijun-sen and tenkan-sen indicators at $1,215-20. The next level that gold price is going to reach is the 61.8% retracement at $1,240. The longer-term trend remains bearish as the price is still below the Ichimoku cloud.

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

General overview for 26/03/2015 10:10 CET

The wave (b) blue turned out to be a little more complex than anticipated. The golden channel line bounced the wave progression back on track, suggesting more gains in this pair to come. The first resistance is the 50% Fibo at the level of 131.39 and then intraday resistance at the level of 131.65. Please notice, the impulsive wave progression in wave (c) blue might even get extended up to the level of 132.44 before any meaningful profit taking would take place.

Support/Resistance:

132.45 - 61%Fibo

132.13 - WR1

131.85 - Technical Resistance

131.65 - Intraday Resistance

131.39 - 50%Fibo

130.16 - Intraday Support

129.75 - Weekly Pivot

Trading recommendations:

Daytraders should consider opening buy orders from the current price levels with SL below the level of 130.15 and TP at the level of 131.39, with a possible extension up to the level of 132.44 later in the week.

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Technical analysis of USD/CAD for March 26, 2015 Market Analysis Review

General overview for 26/03/2015 10:00 CET

The Elliott wave count on the H4 time frame works quite well now as the market is about to test the a zone between the levels of 1.2352 - 1.2379. Please notice that any violation of the level of 1.2388 will invalidate an impulsive alternative green count. This will mean that more complex and time consuming corrective cycle in wave 4 green is in progress. The next demand zone is the area between the levels of 1.1933 - 1.1803 and it will act as a mid-term support for the price.

Support/Resistance:

1.1933 - 1.1803 - Demand Zone

1.2352 - 1.2379 - Key Zone

1.2388 - Invalidation Level

Trading recommendations:

If the level of 1.2388 is violated to the downside, daytraders and swingtraders should consider opening sell orders on any rally up with SL above the level of 1.2555.

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

Technical outlook and chart setups:

The EUR/JPY pair has dropped to the level of 130.50 for now after facing resistance at 131.50 yesterday. The pair could be supported around the 130.00 and still look to push towards the level of 133.00 in the sessions to come. It is recommended to remain long for now with risk at 128.00. Bulls are poised to remain in control untill prices stay above the level of 128.00. Immediate support is seen at 129.30 followed by 128.00 and lower, while resistance is seen at 132.00 followed by 133.00/75 and higher respectively. The pair needs to clear 136.50 to confirm a trend reversal scenario.

Trading recommendations:

Remain long, stop at 128.00 target is 133.00.

Good luck!

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Technical analysis of GBP/CHF for March 26, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is holding initial fibonacci support at the level of 1.4200 as seen here. The pair could produce a bullish bounce from here but a drop below would expose 1.4000. It is recommended to remain long with risk at the level of 1.4100 for now. A more conservative trading approach would be to remain flat for now and wait for further confirmation. Immediate support is seen at 1.4200 (interim) followed by 1.4000, 1.3850, and lower, while resistance is seen at 1.4475 followed by 1.4650 and higher respectively.

Trading recommendations:

Remain flat for now or hold on to earlier long position with stop at 1.4100 (aggressive).

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



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Technical analysis of Silver for March 26, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver was pushed through $17.12/17 yesterday before pulling back. The metal has produced a doji candlestick pattern, indicating a potential change in the direction. Prices are expected to retrace lower into the area around $16.00 before resuming the rally. It is recommended to remain flat for now and look for that dip to enter long positions again. Immediate support is seen at $16.60 followed by $15.80, $15.30, and lower, while resistance is seen at $17.50 followed by $18.50 and higher respectively. The pair needs to correct lower before resuming further rally.

Trading recommendations:

Remain flat for now.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



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Technical analysis of Gol6 for March 23, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold has been pushed through the level of $1,200.00 for now. The metal could face interim resistance at current levels since it was in the past support turned resistance zone. It is recommended to remain aside for now and wait for a dip to re-enter. A push through the $1,220.00 would prove the extremely bullish uotlook for the metal. Immediate resistance is seen at the levels of $1,220.00/25.00 followed by $1,280.00/85.00 and higher, while support is seen at $1,180.00 followed by $1,160.00, $1,140.00, and lower respectively.

Trading recommendations:

Remain flat for now. Look to enter on a dip again.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



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Elliott wave analysis of EUR/NZD for March 26 - 2015 Market Analysis Review

Technical summary:

The expected rally has worked just the way we anticipated. As red wave ii was flat, we are looking for extension in red wave iii and that calls for minimum 1.4583 and possibly even more upside towards 1.4649 before a correction in red wave iv. After a minor correction in red wave iv, a final rally higher to 1.4798 is expected to end the first impulsive rally from the bottom at 1.4128. The fact that we have already broken above the channel resistance-line is also encouraging.

Trading recommendation:

We are long EUR from 143.15 and we will move our stop higher to 1.4375. We will place take profit at 1.4775. If you are not long EUR yet, then buy near 1.4440 with the same stop at 1.4375

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Elliott wave analysis of EUR/JPY for March 26 - 2015 Market Analysis Review

Technical summary:

As long as resistance at 131.74 protects the upside, our preferred count shows that a final decline closer to 125.98 is still expected. However, if resistance at 131.74 is cleared, we will shift our count to the bullish count that indicates that a firm bottom is already in place at 126.87. Resistance at 131.74 has protected the upside for now and we will be looking for a break below minor support at 130.31 and more importantly a break below 129.26 adding confidence to the call for a final decline closer to 125.98.

Trading recommendation:

We are neutral, with a EUR sell-order placed at 129.85 and a EUR buy-order placed at 131.80 (one order done cancels the other).

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