Daily analysis of major pairs for April 28, 2015 Market Analysis Review

EUR/USD: This market went further upwards at the beginning of this week – in the context of uptrend. There is still a convincing indication that the price would go further upwards proving that the EUR continues to be strong. Any sudden weakness in the EUR may cause the price to pull back towards the support lines at 1.0800 and 1.0750.

USD/CHF: This currency trading instrument has not moved very much this week. The price is volatile and there is a tussle between bulls and bears, all in the context of downtrend. The support level at 0.9500 has been tested several times in the past and it may be tested again. Strong sellpressure is needed for that support level to be breached to the downside.

GBP/USD: the GBP/USD continued its bullish movement on Monday, testing the distribution territory at 1.5250. It calls for strong buy pressure for that distribution territory to be breached to the upside. The next target would be another distribution territory at 1.5300.

USD/JPY: This is a type of market in which upswings and downswings are short-term in nature. However, a closer look reveals that the bears currently have the upper hands, and as a result of this, we may see some sell pressure this week.

EUR/JPY: this cross did not show significant movements this week but things remain bullish. As long as the price is above the demand zone at 128.50, it would be prudent to assume that a bullish signal is still in place. The price is expected to trend further north, for only a movement below the aforementioned demand zone could put the expectation in jeopardy.

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 April 28, 2015 . Thanks for your support.

Intraday technical levels and trading recommendations for EUR/USD for April 27, 2015 Market Analysis Review

The market was aggressively pushed lower after breaking below the 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 lost almost 1600 pips since the beginning of 2015. Moreover, EUR/USD bears have already pushed the market slightly below the monthly demand level of 1.0550 (established on January 1997).

The previous monthly closure reflected negativity for the EUR/USD pair in the long term. However, this month, some bullish rejection is shown in the ongoing monthly candlestick.

Bearish breakdown of the monthly demand level at 1.0550 should be anticipated as theoretical long-term targets are projected to 0.9450.

The obvious bearish breakout of the weekly demand level at 1.1100 enhanced the bearish side of the market exposing lower targets.

Full projection targets of the Flag pattern were successfully reached at 1.0800 and 1.0500.

After such a long bearish rally (which started around levels of 1.1300), bullish rejection was expressed at 1.0570 (monthly demand level).

Last week, EUR/USD bears failed to defend their recent SUPPLY zone at 1.0750-1.0800. Instead, an ascending bottom was established near the same price levels.

The nearest bullish target should be located at 1.0980 - 1.0995 (the upper limit of the current wedge-pattern) where a low-risk SELL entry can be offered.

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 Intraday technical levels and trading recommendations for EUR/USD for April 27, 2015 . Thanks for your support.

GBP/USD intraday technical levels and trading recommendations for April 27, 2015 Market Analysis Review

Overview:

Bearish breakdown of the lower limit of the previous DAILY channel occurred enhancing the bearish side of the market.

Persistence below the price zone of 1.4950-1.5000 indicated a further bearish decline.

Initial projection target for this bearish breakout was located at 1.4700. Shortly after, the bearish trend was resumed towards the level of 1.4550 where a lower daily bottom was established.

Evident bullish recovery emerged at 1.4560 pushing the GBP/USD pair above the level of 1.4700. Since then, successive higher highs have been established on the H4 chart.

As anticipated, daily closure above 1.5060 (50% Fibonacci level) ended the ongoing bearish momentum, thus exposing the next resistance level at 1.5170-1.5200 (R2) for retesting.

Recently, the zone between 1.5000-1.5050 (lower limit of the H4 channel and 50% Fibonacci) turned to be Intraday support when further retesting takes place.

On the other hand, the price action should be watched around the current price levels near 1.5170 (R2) for either a low-risk sell entry or a high-risk bullish breakout opportunity in case the current short-term bullish momentum persists.

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 GBP/USD intraday technical levels and trading recommendations for April 27, 2015 . Thanks for your support.

USD/CAD intraday technical levels and trading recommendations for April 27, 2015 Market Analysis Review

Overview:

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

The market failed to hold above 1.2650 - 1.2680 (previous highs) resulting in the formation of a Triple-top pattern.

Successive lower highs were established within the depicted consolidation zone, supporting the bearish side of the market.

Moreover, support levels around 1.2350 and 1.2300 (79.6% Fibonacci level) were broken after providing significant support for several weeks on the daily and weekly charts.

A daily fixation below 1.2300 clears the way for the USD/CAD pair towards the zone between 1.2000-1.1950 (where the projection target of the recent range breakout is located) and 1.1800 where the depicted daily uptrend is roughly located.

The price zone at 1.2320-1.2350 remains a significant intraday resistance zone where the price actions should be watched for a low-risk sell entry at further retesting.

Trading recommendations:

Conservative traders should be waiting for either a bullish pullback towards 1.2320-1.2350 or a bearish breakout below 1.2100 for a valid sell entry.

T/P levels should be placed at 1.2220, 1.2150 and 1.2050, respectively.

On the other hand, daily closure above 1.2370 invalidates this bearish scenario.

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 USD/CAD intraday technical levels and trading recommendations for April 27, 2015 . Thanks for your support.

Technical analysis of USD/JPY for April 27, 20157 Market Analysis Review

Fundamental outlook:

USD/JPY is expected to trade in a lower range. It is undermined by the weaker dollar sentiment (ICE spot dollar index last 96.94 versus 97.31 early Friday) after the report on the US durable goods published in March (excluding transportation goods) showed a decline by 0.2% (versus forecast +0.3%), while orders for non-defense capital goods excluding aircraft slid 0.5% (versus forecast +0.3%). USD/JPY is also weighed by the lower US Treasury yields (10-year slipped 3.0 bps Friday to 1.917%) and Japan export sales. But USD/JPY losses are tempered by demand from Japan importers, ultra-loose Bank of Japan's monetary policy, and yen-funded carry trades amid positive investor risk appetite (VIX fear gauge eased 1.52% to 12.29) as U.S. stocks rose Friday (S&P 500 hit record high 2,120.92 before closing up 0.23% at 2,117.69).

Technical comment:
The daily chart is negative-biased as the MACD is in bearish mode, stochastic turned bearish.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 119. A break of that target will move the pair further downwards to 118.70. The pivot point stands at 119.70. 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, long positions are recommended with the first target at 120.10 and the second target at 120.45.

Resistance levels:
120.10
120.45
120.85

Support levels:
119
118.70
117.35

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 April 27, 20157 . Thanks for your support.

Technical analysis of USD/CHF for April 27, 2015 Market Analysis Review

Fundamental overview:

USD/CHF is expected to trade with risks skewed lower. It is undermined by the weaker dollar sentiment. But USD/CHF losses are tempered by the franc sales on buoyant EUR/CHF crosses, negative interest rates, and the threat of CHF-selling intervention by Swiss National Bank. "The Swiss franc is significantly overvalued overall," Swiss National Bank President Thomas Jordan said Friday. The SNB will monitor exchange rates and intervene in the market to influence monetary conditions, Mr. Jordan said.

Technical comment:
The daily chart is negative-biased as the MACD is bearish, stochastic is getting bearish mode near oversold levels.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as long 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 0.9620. 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, long positions are recommended with the first target at 0.9670 and the second target at 0.9720.

Resistance levels:
0.9670
0.9720
0.9760

Support levels:
0.9480
0.9440
0.94

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 Technical analysis of USD/CHF for April 27, 2015 . Thanks for your support.

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

Fundamental overview:
NZD/USD is expected to trade in a higher range. Financial markets in New Zealand are shut for a public holiday on Monday. NZD/USD is supported by the weaker dollar sentiment and positive investor risk appetite. But NZD/USD gains are tempered by the comments from RBNZ Assistant Governor John McDermott who said the cash rate would be on hold for some time with an increasing risk of a rate cut and kiwi sales on buoyant AUD/NZD cross and soft dairy prices.

Technical comment:
The daily chart is mixed as stochastics is falling from overbought levels, but the MACD is still in bullish mode.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.7640 and the second target at 0.7685. In the alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.7540. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.7490. The pivot point is at 0.7575.

Resistance levels:
0.7640
0.7685
0.7740

Support levels:
0.7540
0.7490
0.7435

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 April 27, 2015 . Thanks for your support.

Technical analysis of GBP/JPY for April 27, 2015 Market Analysis Review

Fundamental overview:

GBP/JPY is expected to consolidate in a higher range. It is undermined by the soft USD/JPY undertone and Japan exporter sales and continued impact from less-dovish-than-expected UK Bank of England MPC meeting minutes released last Wednesday, positive investor risk appetite, and sterling demand on soft EUR/GBP cross. But GBP/JPY is limited by the positive investor risk appetite and demand from Japan importers.

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

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 181.20 and the second target at 181.80. In the alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 179.40. A break of this target is likely to push the pair further downwards, and one may expect the second target at 178.40. The pivot point is at 180.

Resistance levels:
181.20
181.80
182.45
Support levels:
179.40
178.90
178.50

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 April 27, 2015 . Thanks for your support.

EUR/NZD : analysis for April 27, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been trading downwards. The price tested the level of 1.4222 in an average volume. The short-term trend changed from bearish to bullish. Be careful when selling at this stage and watch for potential buying opportunities after a bearish correction. According to the H4 time frame, we can observe supply in an average volume but with a very weak price action. I had placed Fibonacci retracement to find potential support levels. I got Fibonacci retracement 38.2% at the level of 1.4200 and Fibonacci retracement 61.8% at the level of 1.4085. We also found support around 1.4220 (recent swing high like support).

Fibonacci Pivot Points:

Resistance levels:

R1: 1.4371

R2: 1.4408

R3: 1.4469

Support levels:

S1: 1.4250

S2: 1.4212

S3: 1.4150

Trading recommendations: Be careful when selling EUR/NZD and watch for potential buying opportunities after retracement.

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 April 27, 2015 . Thanks for your support.

Gold : analysis for April 27, 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading downwards. The price tested the level of $1,175.07. According to the daily time frame, we can observe a supply in a ultra high volume (selling climax), which is a sign that selling at this stage looks risky. I had placed Fibonacci retracement to find potential support level and got Fibonacci retracement 61.8% at $1,174.00. I had also placed Fibonacci expansion levels to find potential bullish objective points. I got Fibonacci expansion 61.8% at the level of $1,224.00. Major resistance is seen around the level of $1,220.00. The short-term trend is neutral. Anyway, if the price breaks the level of $1,174.00 in an high volume, we may see potential testing the level of $1,147.00.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,179.37

R2: 1,179.73

R3: 1,180.30

Support levels:

S1: 1,178.23

S2: 1,177.80

S3: 1,177.00

Trading recommendations: Selling climax according to the daily time frame, selling gold looks risky.

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 April 27, 2015 . Thanks for your support.

Technical analysis of AUD/USD for April 27, 2015 Market Analysis Review

Overview:

• The AUD/USD pair set below the double top (0.7840) since yesterday. On the H4 chart, the resistance had already been placed at the level of 0.7851 which coincides with the 78.6% of Fibonacci retracement levels. Also, it should be noted that the price has formed the strong resistance at 0.7851. Furthermore, the AUD/USD pair has still been moving between 38.2% of Fibonacci retracement levels and 78.6% at the same time frame. Additionally, the AUD/USD pair will be able to fall from the level of 0.7851 in order to extend further to 0.7783 today. Hence, there is a probability that the market will start showing signs of bearish market again to indicate the bearish opportunity from the level of 0.7851 to 0.7840 targeting the strong support around 0.7783 and 0.7752. Meanwhile, bears were forced to pull back at the level of this area. Therefore, this level will form strong support at 0.7687 to indicate a bullish opportunity above that line. So, it will be a good sign to buy in the short term above the level of 0.7687 with the first target at 0.7780 and it might resume to 0.7840.

Observations:

• Stop loss should never exceed your maximum exposure amounts. So, your stop loss should be around 55 pips for each position.
• Major support is seen at 0.7687.
• Major resistance has already been placed at 0.7850.
• We expect a new range about 163 pips in coming days.

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 AUD/USD for April 27, 2015 . Thanks for your support.

Technical analysis of USD/CHF for April 27, 2015 Market Analysis Review

Overview:

• The resistance got broken at the level of 0.9537 and turned to support since the April 17, 2015. Also, it should be noted that the level of 0.9537 represents the ratio of 11.8% Fibonacci retracement levels and the double bottom set at the point of 0.9494. Moreover, the area between 0.9494/0.9537 is going to become support this week. So, according to previous events, the price of USD/CHF pair will move between the levels of 0.9537 and 0.9635. Additionally, the psychological level has been set at 0.9581 because it acts as minor resistance. Also, the double top will be set at 0.9635. Therefore, it will be of the sagacity to buy above the level of 0.9537 with the first target at 0.9581. Equally important, the USD/CHF pair is going to try to break the minor resistance at 0.9581 to call for the bullish market above 0.9630. In consequence, the price is likely to move towards the double top (0.9535). On the other hand, the stop loss should always be taken into account, thus it will be of the foresight to set your stop loss at 0.9480.

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 April 27, 2015 . Thanks for your support.

Daily analysis of USDX for April 27, 2015 Market Analysis Review

The Index remains solid in the current bearish bias, as it could reach the support zone around 96.30. By the way, the bullish risk is still there on the daily chart, because the USDX is still on an overall bullish consolidation above the 200 SMA. In the short term, if bulls are enough strong, the index is expected to rise to the resistance level at 97.83.

On the H1 chart, the USDX continues to look for solid floor at the support level of 96.83. The bearish outlook is still solid in the lower timeframe, as the index is still trading below the 200 SMA, which should act as strong dynamic resistance. We could see bullish moves until the resistance level of 97.52 during this week.

Daily chart's resistance levels: 97.83 / 99.94

Dailychart's support levels: 96.30 / 95.00

H1 chart's resistance levels: 97.18 / 97.52

H1 chart's support levels: 96.83 / 96.34

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 96.83, take profit is at 96.34, and stop loss is at 97.32.

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 April 27, 2015 . Thanks for your support.

Daily analysis of GBP/USD for April 27, 2015 Market Analysis Review

In the daily chart, GBP/USD is tying to reach the resistance zone around 1.5238 in the near term. The bearish force seems getting stronger at the current levels and eventually we could see a break of the support level at 1.5125. In this case, GBP/USD is likely to test the 1.4976 level in the medium term. It should be noted that the 200 SMA is turning flat.

GBP/USD is moving in favor of a pullback towards 1.5185, as the pair is trying to reach the support at 1.5096. The short-term outlook could be bearish, but this would be invalidated by the breakout of the resistance zone around 1.5161, because GBP/USD will rise until the 1.5245 level. The MACD is at negative territory.

Daily chart's resistance levels: 1.5125 / 1.5238

Dailychart's support levels: 1.4976 / 1.4820

H1 chart's resistance levels: 1.5161 / 1.5245

H1 chart's support levels: 1.5096 / 1.5025

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5161, take profit is at 1.5245, and stop loss is at 1.5082.

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 April 27, 2015 . Thanks for your support.

#USDX technical analysis for April 27, 2015 Market Analysis Review

The Dollar index is trading above critical support. There is a possibiliti for Head and Shoulders pattern to be formed. Confirmation will come once a break of the neckline is made at 96.70. A daily close below that level will put the recent low to the test and probably push even towards 94-93.

Green line = neckline

Blue line= price projection if neckline is broken

The Dollar index is trading above short-term and medium-term important support of 96.70. The recent low at 96.20 is also a big support level. So, bulls will need to be extra cautious if they see these two levels being broken. A deeper dollar correction could push the index towards 94 or even 93.

Orange lines= bullish channel

The rice has broken the weekly bullish channel as shown in the chart above. The weekly candle has also closed below the tenkan-sen indicator and this is another bearish signal. Target of such break down is the kijun-sen (yellow line) at 94. Bulls need to be very cautious as we might see a deep dollar correction if week closes below 96.

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 April 27, 2015 . Thanks for your support.

Gold technical analysis for April 27, 2015 Market Analysis Review

Gold price had broken the triangle pattern and pushed below $1,180 on Friday producing a new sell signal. Now, the price is testing the breakdown area. As long as the price is below $1,200, bears are in control with $1,130-40 as 1st target area.

Blue lines = triangle pattern

Gold price has broken the lower boundary of the triangle pattern. The price is below the Ichimoku cloud. It is making lower lows and lower highs in the 4-hour chart. Short-term support is at $1,175, which is the last weeks's low. The price is back testing the breakdown area. It is testing the triangle from below.

The weekly chart does not look good either. After 3 weeks, the red line indicator tenkan-sen was broken. The weekly candle closed below the tenkan-sen and this is a new bearish signal. Overall the weekly chart is bearish as price has reversed from the 50% retracement, price remains below the Ichimoku cloud and below the kijun-sen. If $1,130 is broken I expect to see a push as low as $1,000 or even $900.

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 April 27, 2015 . Thanks for your support.

Technical analysis of EUR/JPY for April 27, 2015 Market Analysis Review

General overview for 27/04/2015 08:30 CET

After hitting all the previous week's targets, including the 78%Fibo at the level of 130.10, the market stalled a little and declined to the level of 128.82 that will act as intraday support now. It is worth to mention that the decline from the level of 130.10 is in three waves. This is why there might be another rally up in the alternative labeling presented on the chart before the overall corrective cycle will be completed. Please notice that even a break out below the intraday support is still not bearish in this count as the key level is the weekly pivot support at the level of 127.87. Only a clear break out below this level will result in last swing low test.

Support/Resistance:

126.07 - Swing Low

126.33 - WS2

127.86 - WS1

128.82 - Intraday Support

128.97 - Weekly Pivot

130.10 - Intraday Resistance

130.51 - WR1

Trading recommendations:

Daytraders should consider to open sell orders only if the intraday support level is clearly broken, with entry at the level of 128.80, SL at the level of 129.10 and TP at the level of 1.2786 (3:1 R/R trade).

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 April 27, 2015 . Thanks for your support.

Technical analysis of Gold for April 27, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold dropped lower to $1,175.00 on Friday before pulling back higher. The metal is seen to be trading around $1,182.00/83.00 for now. The hourly chart view has been depicted here, indicating interim support at $1,175.00 and lower, while resistance is seen at $1,198.00 followed by $1,204.00/08.00 and higher up respectively. If the metal drops below $1,175.00, it should test the levels of $1,171.00/73.00 at least, which is fibonacci 0.618 support of the rally between $1,140.00 and $1,224.00 respectively. A drop below $1,170.00 could prove to be extremely bearish though.

Trading recommendations:

Remain long, stop at $1,170.00, a target is open.

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 April 27, 2015 . Thanks for your support.

Technical analysis of USD/CAD for April 27, 2015 Market Analysis Review

General overview for 27/04/2015 08:15 CET

The golden trend line is still providing dynamic resistance for the price and only an impulsive break out higher will be considered bullish (short-term). Nevertheless, the market hasn't completed wave (c) blue to the downside, so the mentioned bullish break out might be just a part of wave b green and then market should reverse. The price is still trying to complete wave 4 green to the downside as a part of a larger degree corrective cycle.

Support/Resistance:

1.2085 - WS1

1.2102 - Intraday Support

1.2187 - Intraday Resistance

1.2193 - Weekly Pivot

1.2285 - WR1

Trading recommendations:

Daytraders should consider opening buy orders only if the golden trend line is clearly broken, with entry at the level of 1.2231, SL at the level of 1.2187 and TP at the level of 1.2285.

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 April 27, 2015 . Thanks for your support.