05/11/15 ~ Best and Easy Analyst News

Monday 11 May 2015

Technical analysis of EUR/USD for May 12, 2015 Market Analysis Review

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When the European market opens, the results of the ECOFIN Meetings are due for release. The US is expected to release economic data on the Federal Budget Balance, JOLTS Job Openings, and NFIB Small Business Index. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1198.

Strong Resistance:1.1192.

Original Resistance: 1.1181.

Inner Sell Area: 1.1170.

Target Inner Area: 1.1144.

Inner Buy Area: 1.1118.

Original Support: 1.1107.

Strong Support: 1.1096.

Breakout SELL Level: 1.1090.

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 EUR/USD for May 12, 2015 . Thanks for your support.

Technical analysis of USD/JPY for May 12, 2015 Market Analysis Review

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In Asia, Japan will release Leading Indicators and 10-y Bond Auction. The US is expected to release economic data on Federal Budget Balance, JOLTS Job Openings, and NFIB Small Business Index. So, there is a strong probability that USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.73.

Resistance. 2: 120.49.

Resistance. 1: 120.26.

Support. 1: 119.97.

Support. 2: 119.74.

Support. 3: 119.50.

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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 May 12, 2015 . Thanks for your support.

GBP/USD intraday technical levels and trading recommendations for May 11, 2015 Market Analysis Review

Overview:

On March 2, bearish breakdown of the lower limit of the previous daily channel occurred enhancing the bearish side of the market.

Persistence below the zone of 1.4950-1.5000 indicated a further bearish decline towards 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) exposed the next resistance levels at 1.5400 and 1.5450 where extensive bearish pressure was applied.

Persistence below 1.5300 (the lower limit of the H4 channel) enhanced the bearish side of the market towards the levels of 1.5300, 1.5250 and 1.5100.

The price level of 1.5050 remains the most prominent support level to watch for long-term buy entries (corresponds to 50% Fibonacci level and the previous consolidation range's upper limit).

On the other hand, the price zone of 1.5550-1.5580 is now a critical zone to be watched for price action.

Obvious bullish breakout above 1.5550 indicates further bullish movement initially towards 1.5750 (backside of the broken channel) where a valid SELL entry can be taken.

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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 May 11, 2015 . Thanks for your support.

USD/CAD intraday technical levels and trading recommendations for May 11, 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. That is why 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 enhancing the bearish side of the market.

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.

Daily fixation below 1.2300 cleared the way for the USD/CAD pair towards the levels of 1.2000 and 1.1940 (projection target of the recent range breakout and the depicted weekly uptrend).

That is why we expected these price levels to provide significant signs of bullish price action.

On the other hand, the price zone of 1.2330-1.2350 remains a significant intraday resistance zone at further retesting. This zone is likely to offer a low-risk sell entry while retesting.

Trading recommendations:

Risky traders could have taken a buy entry anywhere around the price level of 1.1950. T/P is projected at 1.2100, 1.2270 and 1.2320 as long as USD/CAD bulls keep defending the recent low (1.1940).

On the other hand, conservative traders should wait for a bullish pullback towards the price zone of 1.2300-1.2340 for a low-risk sell entry. T/P levels should be placed at 1.2220, 1.2100, and 1.1950 while S/L should be placed above 1.2250.

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EUR/NZD : analysis for May 11, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5185 in a high volume. The short-term trend is bullish. Our target at 1.5155 (Fibonacci retracement 50%) has been reached and we can observe a completed bearish corrective phase in the background. According to the daily time frame, we can observe supply in a volume just above average in the background. Our target is at the price of 1.5450. Watch for potential buying opportunities on the dips (after bearish correction).

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5100

R2: 1.5150

R3: 1.5230

Support levels:

S1: 1.4950

S2: 1.4900

S3: 1.4826

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

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Intraday technical levels and trading recommendations for EUR/USD for May 11, 2015 Market Analysis Review

The market was 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 1,500 pips since the beginning of 2015. Moreover, EUR/USD bears have already pushed the market slightly below the monthly demand level at 1.0550 (established on January 1997).

The previous monthly closure had a negative impact on the EUR/USD pair. However, April's monthly candlestick came as a bullish engulfing candle as depicted on the chart.

This probably hinders further bearish decline for some time. On the other hand, it enhances a bullish corrective movement towards 1.1500 and 1.1600 if a daily closure persists above the level of 1.1250.

In the long term, bearish breakdown of the monthly demand level of 1.0550 should not be excluded as the long-term breakout target is roughly projected towards the level of 0.9450.

The obvious bearish breakout of the weekly demand level at 1.1100 allowed the market to fall dramatically shortly afterwards.

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

The price zone between 1.1050 and 1.1150 failed to neutralize the ongoing bullish momentum.

Moreover, a bullish continuation pattern with an ascending bottom was previously established around the level of 1.0650.

This applied a strong bullish pressure over the prominent supply levels at 1.1150 and 1.1240. Thus, bears failed to pause the ongoing bullish momentum of the EUR/USD pair.

The current daily candlestick closure should be monitored for further price analysis.

Daily persistence above price levels of 1.1150 and 1.1250 enhances the bullish side of the market. This exposes the nearest daily supply level at 1.1500 for a quick retesting.

On the other hand, failure to persist above 1.1150 indicates further sideway movement without significant bullish momentum.

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Intraday technical levels and trading recommendations for GBP/USD for May 11, 2015 Market Analysis Review

Significant supply levels located around 1.5300 (weekly 38.2% Fibonacci level) and 1.5500 (weekly 50% Fibonacci level) have been providing significant supply over the GBP/USD pair for a few months.

Evident bullish recovery emerged from the area around 1.4550 where a significant bullish engulfing weekly candlestick was expressed.

As mentioned in the previous articles, persistence above the levels of 1.5000-1.5080 exposed the weekly supply zone of 1.5500-1.5550 (roughly corresponding to weekly 50% Fibonacci level), where significant bearish pressure was previously applied on February 22.

The current weekly candlestick closure should be monitored to determine the next destination of the pair as persistence above the weekly supply at 1.5530 has been pausing the ongoing bearish trend for a few weeks.

Sideways movement with slight bearish tendency had been expressed on the daily chart until the bullish breakout took place above 1.4970-1.5000 (via a Full-body bullish candlesticks).

The price zone between 1.5000 and 1.5050 (daily 38.2% and 50% Fibonacci levels) constitutes the prominent demand level for the GBP/USD pair.

As anticipated, it offered a valid buy entry at retesting that took place on Tuesday. S/L can be advanced to 1.5250 to secure some profits now.

A daily closure above the weekly supply zone 1.5500-1.5530 exposes the next supply level located at 1.5720 (100% Fibonacci Expansion of the recent bullish swing).

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Gold : analysis for May 11, 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of $1,191.53 in a high volume. According to the daily time frame, we can observe demand in a volume below average. The short-term trend is neutral. Our Fibonacci retracement 61.8% at the level of $1,181.00 was held successful. I am still expecting bullish movement, so my advice is to focus on buying positions. The first resistance level is seen around $1,200.00. According to the 30-minute time frame, there is still a valid inverted head and shoulders formation (bullish). I found corrective downward channel according to 30min time frame and the price broke and re-tested that channel, which is a sign of potential bullish movement.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,189.60

R2: 1,190.00

R3: 1,191.00

Support levels:

S1: 1,187.65

S2: 1,187.30

S3: 1,186.50

Trading recommendations: Be careful when selling gold at this stage and watch for potential buying opportunities (buy on dips).

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Daily analysis of USDX for May 11, 2015 Market Analysis Review

In the daily chart, there is still a battle between bulls and bears because the support level of 93.95 is very strong and the index is trying to break the resistance level of 95.00 to rally towards the resistance zone of 96.30.. If that move happens, it would be expected to reach new highs in the medium term, as the USDX is having a bullish momentum.

There is still a dynamic resistance in the H1 chart, because the USDX is trading very close and below the zone where the 200 SMA (95.34) is located . Currently, we want to see some sideways consolidation before some significant move. All indicates that the bullish side has high odds to become successful in the current outlook.

Daily chart's resistance levels: 95.00 / 96.30

Dailychart's support levels: 93.95 / 92.64

H1 chart's resistance levels: 95.34 / 95.94

H1 chart's support levels: 94.70 / 93.85

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 94.70, take profit is at 93.85, and stop loss is at 95.56.

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Daily analysis of GBP/USD for May 11, 2015 Market Analysis Review

GBP/USD is forming a bullish pattern below the zone around 1.5543, where the 200 SMA is currently located in the daily chart. This gives us a new scenario because the pair could reach new highs above that moving average. It is likely to find resistance at the level of 1.5745. The MACD indicator is still alive at positive territory.

The short-term outlook remains bullish because GBP/USD is still trading above the 200 SMA in the H1 chart with a higher high pattern formation in place. The closest resistance is located at 1.5472. Now, there is risk of a lower breakout at the support level of 1.5392 with a near-term target at 1.5307.

Daily chart's resistance levels: 1.5543 / 1.5745

Dailychart's support levels: 1.5371 / 1.5238

H1 chart's resistance levels: 1.5472 / 1.5533

H1 chart's support levels: 1.5392 / 1.5307

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 1.5472, take profit is at 1.5533, and stop loss is at 1.5415.

Technical analysis of EUR/USD for May 11-15, 2015 Market Analysis Review

The weekly technical analysis of EUR/USD pair:

Overview:

According to the previous events, the price of the EUR/USD pair has still moved between 1.1066 and 1.1230 in the short term. The level of 1.1267 is likely to indicate strong resistance and minor resistance has been set at 1.1230. Moreover, the price will form a new strong spot at this level. Also, it should be noted that the price of 1.1219 is coinciding with the weekly pivot point in the H1 chart. Therefore, it will be of wisdom to sell at 1.1267 or 1.1230 with the first target at 1.1140, then it will continue towards 1.1066 and 1.1046 in order to test the the double bottom. For that reason, it will be very profitable to buy at 1.1046 with the first target at 1.1170, then continue towards 1.1219. The stop loss should be placed below 1.1046 at the level of 1.1030.

Technical analysis of GBP/USD for May 11-15, 2015 Market Analysis Review

Overview:

The market of GBP/USD pair was very stable and the trend was also clear because the pair called for a strong bullish market from the support of 1.5353 (the weekly pivot point). Consequently, the market will probably start showing the signs of tight uptrend again from the same level. But, the GBP/USD pair will be restricted by the levels of 1.5353. So, it would be intellect to pay attention to this area. Moreover, it should be noted that the double bottom is going to set at the price of 1.5350. Additionally, resistance stood at 1.5619. Thus, we predict a tiny range from the level of 1.5353 to 1.5619 this week. Therefore, try to buy at a lower price around the weekly pivot point at the price of 1.5353 with the first target of 1.5521 (the price of 1.5521 is representing the double top in H1 chart). It will climb towards 1.5619 in order to test the weekly resistance one.

Observations:

We expect a weekly range of 266 pips (1.5353 - 1.5619).
Strong support level will be formed at the price of 1.5353 today.
The value of 61.8 % Fibonacci retracement levels has set at the 1.5356 level. Moreover, it is the key level to confirm the bullish market.
Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.

The weekly technical analysis of GBP/USD pair:

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Technical analysis of USD/CAD fo May 11, 2015 Market Analysis Review

General outlook for 11/05/2015 09:50 CET

There is still a missing wave (c) blue in the current wave development, but the alternate count is showing a possibility of sooner termination of the overall corrective structure and a potential bullish structure in progress. To follow this scenario, the market must break out above the key zone between the levels of 1.2189 - 1.2203 in an impulsive fashion. Otherwise, the corrective structure will be still uncompleted and more downside progression could develop soon.

Support/Resistance:

1.1938 - Swing Low

1.1964 - WS1

1.2043 - Intraday Support

1.2073 - Weekly Pivot

1.2161 - Intraday Resistance

1.2189 - 1.2203 - Supply Zone

1.2206 - WR1

Trading recommendations:

As long as the market is below the golden trend-line resistance, the daytraders should consider opening sell orders with SL above the level of 1.2162 and TP at the level of 1.2043 with a possible extension downward. However, any breakout above the golden trend line will produce an opportunity to open a buy trade with tight SL and TP at the level of 1.2203.

#USDX wave analysis for May 11, 2015 Market Analysis Review

The Dollar index has reversed the short-term trend to bullish as expected, because a decline of wave C down was nearly a complete 5 wave sequence since 99.95. There are high probabilities that the entire downward correction is over and that we have just started a new upward move that will bring the index above 100.

Blue line = trend line support

Green line = neckline resistance

Orange lines= bearish channel

The Dollar index has held above the blue trend-line support and bounced. The price has broken above the Orange downward sloping channel but it is testing the Ichimoku cloud resistance now. The trend is bullish for the short-term as long as the price is above 94.20. We could see a back test of the channel breakout level or a continuation of this upward breakout that will bring the price inside the cloud resistance.

The weekly chart shows my wave count as I have been saying since last week and I believe last week's low is the end of wave 5 of C down. The price also held above the kijun-sen indicator and I believe I can say with many chances of success that the trend has reversed and we should expect new highs over the coming weeks. Bulls should also protect their positions with a stop at the kijun-sen level in case there is another round of the dollar weakness.

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Technical analysis of EUR/JPY for May 11, 2015 Market Analysis Review

General outlook for 11/05/2015 09:30 CET

The current impulsive structure that had been developing since the top of the wave B at the level of 135.97 is so far in three waves and there is a high probability that the leading diagonal pattern if forming now. The price can not go higher than intraday resistance at the level of 135.36 to continue making this pattern, because if it does, the leading diagonal will be invalidated. So, the equally legs of the ABCD pattern labeled in blue had produced a small bounce from the intraday support at the level of 133.47. It might continue higher in no new low is made. Please notice that the technical support at the level of 133.09 is the key level for bulls as any break out lower means trading in a bearish zone.

Support/Resistance:

131.47 - WS2

132.73 - WS1

133.09 - Technical Support|Key Level|

133.47 - Intraday Support

134.33 - Weekly Pivot

135.36 - Intraday Resistance

135.56 - WR1

135.97 - Swing High

Trading recommendations:

As long as the market is below the weekly pivot and dynamic golden trend line resistance the daytraders should consider to open sell orders with SL above the level of 135.00 and TP at the level of 133.09 with a possible extension downward.

Gold wave analysis for May 11, 2015 Market Analysis Review

Gold price continues to trade below $1,200 and there are more chances of a downward break than a push above $1,200. I remain medium-term and longer-term bearish. Important support that needs to be broken is at $1,130 and this will give me $1,000 or even $900 as a target.

Blue line= trend line support

I believe there are high chances that wave C was completed at $1,200.50. The price is moving lower in an impulsive pattern whereas the bounce could not manage to move above the 61.8% retracement. The price is also below the Ichimoku cloud and is testing the blue trend-line support. So, it is important to see if support at $1,178-80 holds today. If not, a low of $1,170 is likely to be tested.

Gold price in the daily chart remains below the cloud and below the tenkan- and kijun-sen indicators. The price has bounced from $1,140 in a corrective manner and that is why I continue to believe we should expect one more downward sloping impulsive wave that will bring the price towards $1,000.

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Technical analysis of USD/JPY for May 11, 2015 Market Analysis Review

Fundamental outlook:
USD/JPY is expected to trade in a lower range. It is undermined by softer dollar sentiment and lower US Treasury yields (2-year at 0.576% versus 0.631% late Thursday) after slightly-fewer-than-expected 223,000 increase in the US non-farm payrolls in April (versus forecast +228,000) and less-than-expected 0.1% on-month rise in the US average hourly earnings in April (versus forecast +0.2%), while the March payrolls increase was cut to just +85,000 from previously reported 126,000. USD/JPY is also weighed by the weaker-than-expected 0.1% rise in the US March wholesale inventories (versus forecast +0.4%) and Japan export sales. But USD/JP Y losses are tempered by demand from Japan importers, ultra-loose Bank of Japan's monetary policy, and reduced safe-haven appeal of the yen amid positive risk sentiment (VIX fear gauge eased 15.0% to 12.86, S&P 500 closed up 1.35% at 2,116.1 Friday) as the US April jobs data reassured investors that the Federal Reserve will remain patient in raising interest rates, while China's central bank cut interest rates by 0.25% on Sunday--its third decrease since November.

Technical comment:
The daily chart is mixed as the MACD is bullish, but stochastics is neutral.

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 120.25 and the second target at 120.50. In the alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 119.40. A break of this target is likely to push the pair further downwards, and one may expect the second target at 119. The pivot point is at 119.60.

Resistance levels:
120.25
120.50
120.80

Support levels:
119.40
119
118.75

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Technical analysis of USD/CHF for May 11, 2015 Market Analysis Review

Fundamental overview:
USD/CHF is expected to trade in a higher range. Swissie sentiment is dented by the surprise 0.2% on a month drop in Switzerland April CPI (versus forecast +0.1% on-month). USD/CHF is also supported by the franc sales on cross trades versus the major currencies, negative Swiss interest rates, and the threat of the Swiss National Bank CHF-selling intervention. But USD/CHF gains are tempered by softer dollar sentiment.

Technical comment:
The daily chart is mixed as the MACD is bearish, but stochastics is rising from oversold levels.

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 0.9415 and the second target at 0.9450. In the alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9190. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9132. The pivot point is at 0.9255.

Resistance levels:
0.9415
0.9450
0.9485
Support levels:
0.9190
0.9135
0.9065

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Technical analysis of GBP/JPY for May 11, 2015 Market Analysis Review

Fundamental outlook:
GBP/JPY is expected to trade in a higher range as markets are awaiting the Bank of England's interest rate decision: the BOE is expected to leave interest rates unchanged at their current record low of 0.5%. It is undermined by the weaker USD/JPY undertone and Japan export sales. But GBP/JPY losses are tempered by the demand from Japan importers and positive investor risk appetite.

Technical comment:
The daily chart is mixed as the MACD is bullish, but stochastics is bearish at overbought levels.

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 186 and the second target at 186.55. In the alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 183. A break of this target is likely to push the pair further downwards, and one may expect the second target at 182.40. The pivot point is at 183.80.

Resistance levels:
186
186.55
187.30

Support levels:
183
182.40
181.75

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Technical analysis of NZD/USD for May 11, 2015 Market Analysis Review

Fundamental overview:
NZD/USD is expected to consolidate with bearish bias after hitting a five-week low of 0.7410 this morning. It is undermined by the kiwi sales on buoyant AUD/NZD cross and weak dairy prices. But NZD/USD downside is limited by softer dollar sentiment, positive investor risk appetite, and NZD-USD interest differential.

Technical comment:
The daily chart is negative-biased as the MACD and stochastics are bearish, although the latter is at oversold levels, five-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 long as it remains below the pivot point. Short positions are recommended with the first target at 0.7340. A break of that target will move the pair further downwards to 0.73. The pivot point stands at 0.7460. 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 0.7515 and the second target at 0.7550.

Resistance Levels:
0.7515
0.7550
0.7580

Support levels:
0.7340
0.73
0.7265

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Technical analysis of EUR/JPY for May 11, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair has reversed from the level of 136.00 earlier and is trading at 133.60/70 now. The pair has turned bearish but the fall is expected to be corrective in nature. EUR/JPY bears seem to be in control for now and the pair is expected to drop further towards 129.00/130.00 before resuming its rally. It is recommended to initiate fresh short positions with risk at 136.00 now. Immediate support is seen at the level of 133.00 followed by 131.50, 127.00, and 126.00, while resistance is seen at 136.50/137.00 followed by 138.00, 139.00, and higher respectively.

Trading recommendations:

Initiate fresh short positions, stop at 136.00, a target is open.

Good luck!

Technical analysis of GBP/CHF for May 11, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has rallied through 1.4400 and hit fibonacci 0.618 resistance as depicted here. The pair could be looking to drop lower at least in a corrective manner from here. It is recommended to exit long positions if taken earlier and initiate 50% short positions with risk around 1.4550. Immediate resistance is seen at the level of 1.4520 followed by 1.4700, 1.4800, and higher while support is seen at 1.4150 followed by 1.3800 and lower respectively. Short-term correction might be possible from the current levels.

Trading recommendations:

Exit long positions. Initiate short positions, stop at 1.4550, a target is open.

Good luck!

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Technical analysis of Silver for May 11, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver is trading around $16.40 now confined into an increasing support and constant resistance type consolidation pattern. The metal should be looking to break above at least $16.60/70 to rally higher. It is hence recommended to remain long with risk at $15.50 now. Immediate support is seen at $16.20 followed by $15.60, $15.30, and lower, while resistance is seen at $16.70 (interim) followed by $17.40/50, $18.40/50, and higher respectively. The rising support consolidation tends to break on the higher side.

Trading recommendations:

Remain long, stop at $15.30 levels, a target is open.

Good luck!

Daily analysis of major pairs for May 11, 2015 Market Analysis Review

EUR/USD: This currency trading instrument will be a major determinant of the movement of USD/CHF and EUR/JPY this week. So, keep a close watch on it.

USD/CHF: This pair is trying to make a rally in the context of an overall bearish bias. This week, the event on the pair would be dictated by what happens to the EUR/USD pair itself. Unless there is a vivid weakness in EUR/USD, the present rally on USD/CHF would result in nice opportunities for bears to enter at short at better prices.

GBP/USD: The outlook for the Cable this week and this month is bearish – though the current bias is bullish. The current bullish bias is largely determined by positive sentiment and optimism emanating from the UK. This bullish sentiment may continue to push the price further upwards, but any failure of the price to stay above the accumulation territories at 1.5250 and 1.5200 could result in a threat to the existing bias.

USD/JPY: The condition on USD/JPY is precarious now because the market is currently volatile, with upswings and downswings being short-term in nature. Position and swing traders may do well to stay away from this market until there is a protracted movement in one direction. Meanwhile, the market is favorable to scalpers and intraday traders.

EUR/JPY: TThis week, the event on the EUR/JPY cross would largely be determined by the strength in EUR itself. Should EUR continue to maintain its stamina, the cross would continue its bullish journey, testing the supply zones at 136.00 and 136.50. Any significant weakness in EUR would cause the cross to plummet.

Technical analysis and trading recommendation for USDX and USD/CAD for May 11, 2015 Market Analysis Review

Total nonfarm payroll employment increased by 223,000 in April and the unemployment rate remained unchanged at 5.4 percent, the US Bureau of Labor Statistics reported on Friday's session. The USDX inched higher probably made double bottom at 93.89. The index managed to trade above hourly moving averages, but bearish cross over remains in play. Intraday resistance is seen at 95.40 and 96.00. Support is found at 94.90 and 94.60. The lower lows and lower highs still exist.

USD/CAD

The pair opened the new week on a bullish note. The pair has immediate resistance found at 1.2160 20Dsma and 1.2190 100Dema. The pair is forming a base at 1.2070 and 1.2000 in the hourly chart. The strong resistance is seen at 1.2350 and bears have the upper hand in the medium term. We expect strong momentum above 1.2205 towards 1.2270 and 1.2300. We expect mild upswing towards 1.2160 and 1.2190. The strong upswing will be available only above 1.2205 towards 1.2300 and 1.2330. Intraday support is found at 1.2090. We recommend selling below 1.2090 with targets at 1.2060, 1.2040, and 1.2010.

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Technical analysis of Gold for May 11, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is trading around $1,188.00 now, confined in a cone type trading range. The metal needs to push above $1,200.00 or below $1,180.00 to break out of the trading range and decide upon further direction. It is recommended to remain long for now, with risk below the level of $1,165.00. Immediate support is seen at $1,168.00 (interim) followed by $1,162.00, $1,142.00, and lower, while resistance is seen at $1,200.00 followed by $1,225.00, $1,235.00/40.00, and higher respectively. Bulls should remain in control until prices remain broadly above $1,168.00.

Trading recommendations:

Remain long, stop at $1,165.00, a target is open.

Good luck!

Technical analysis and trading recommendation for EUR/CAD for May 11, 2015 Market Analysis Review

EUR/CAD

The cross had been consolidating for 6 day before it moved higher to the crucial resistance level of 1.3765. The cross was rejected at the same supply zone again and changed its direction. We recommended selling below 1.3620 with targets at 1.3510 and 1.3470. As of now, the pair made a low at 1.3495. At today's Asian session, the pair held 50Dsma and was trading above that. The parallel support is found at 1.3470 and 1.3400, which is the buying level with sl 13385. On the higher side, 1.3765 is the supply zone. A daily close above 1.3765 will be added to the system with targets at 1.3810, 1.4000, and 1.4080. The current uptrend will be cancelled in case the price breaks below 1.3385. On a bullish front, two levels arrested the current rally (1.3765 200Wsma and 1.3780 50Msma). We expect 400pips on the higher side if these take out on a closing basis.

Trade: positional buying between 1.3500,1.3440, and 1.3410 with sl 1.3385.

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Technical analysis and trading recommendation for NZD/JPY for May 11, 2015 Market Analysis Review

The cross edged lower after a strong closure on Friday's session. In the daily chart, the cross fell and closed below all daily moving averages. In

April, 200Dema and 200Dsma twice gave enough support to the cross to made a high at 92.36. But in May, the cross breached the same levels twice. Today, at the Asian session, the cross fell below the last bullish support at 88.71 trading at 88.69. In the weekly chart, the cross fell below 20 & 50 Wsma. Bulls found support at 88.18 and 87.27. In the daily chart, we can observe inverse head and shoulder pattern formation, right hand shoulder is found at 87.27. The real panic will ignite towards 86.10 100wsma, 85.56 100Wema, and the previous swing low at 84.00. The new fresh week started on a bearish note opened at 89.70. The weekly trading pattern is framed between 87.27 and 89.80.

Intraday: The cross is trading below the support at 88.71, the next major support is seen at 88.50/88.45 161.8,4HFE. We expect the cross to touch 88.20,88.00, and 87.85. We recommend fresh intraday selling only below 88.40 with targets at 88.20 and 88.00.

Resistance: 89.20, 89.72, 89.80

Support: 88.45, 88.20,87.85

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Technical analysis of EUR/USD for May 11, 2015 Market Analysis Review

!EURUSD.jpg

When the European market opens, economic data on Eurogroup's meeting and German WPI m/m are due.The US will release economic data on the Labor Market Conditions Index m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1248.

Strong Resistance:1.1242.

Original Resistance: 1.1231.

Inner Sell Area: 1.1220.

Target Inner Area: 1.1194.

Inner Buy Area: 1.1168.

Original Support: 1.1157.

Strong Support: 1.1146.

Breakout SELL Level: 1.1140.

Technical analysis of USD/JPY for May 11, 2015 Market Analysis Review

!USDJPY.jpg

In Asia, Japan will not release any economic data, but the US will publish data on Labor Market Conditions Index m/m. So, there is a strong probability that USD/JPY will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.44.

Resistance. 2: 120.21.

Resistance. 1: 119.98.

Support. 1: 119.69.

Support. 2: 119.46.

Support. 3: 119.22.

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Technical analysis and trading recommendation for GBP/USD for May 11, 2015 Market Analysis Review

The new week starts with a big event, the Bank of England interest rate decision. As usual, we expect the interest rate to remain unchanged. Data on manufacturing production and industrial production are due on Tuesday's session. Major economic data, like BoE Governor Carney's speech, inflation report, and Claimant count, change fall on Wednesday. Besides, the US will publish figures for retail and core retail sales on Wednesday. Thursday and Friday are seen to be mute sessions in terms of economic data. We expect the BoE inflation data to be crucial.

Technical view: The cable enjoyed the biggest intraday spike in a month. The cable rejected at 1.5535 200Dema and made a high of 1.5522. In April 29, 2014, the pair edged lower to 1.5090 from a high of 1.5498. The strong parallel resistance zone is seen between 1.5535 161.8 FE and 1.5552. In case the price manages to stay above 1.5555, bulls can aim to gain another 100 pips on the higher side. The 200Dsma is seen at 1.5650. The cable managed to close above 20Wsma after 37 weeks. The 20Wsma is found at 1.5125. On the downside, support is found at 1.5230, 1.5140 100Dema, and 100Dsma respectively. The weekly trading pattern is framed between 1.5552 and 1.5140. Until the cable closes above 1.5000 50Dsma and the previous supply zone, the bullish view remains in play.

Intraday view: Intraday support is found at 1.5400 in the four-hour chart. The real problem for bulls will arise below 1.5350 to extend the downward journey towards 1.5300 and 1.5260 61.8 FE/1.5240 34hrsma. Intraday resistance is found at 1.5470 and 1.5485. Major resistance is seen at 1.5535 and 1.5552. We recommend buying above 1.5450 with small targets at 1.5470, 1.5485, 1.5500, 1.5530, and 1.5550. We can expect intraday strong momentum above 1.5485 and big spikes above 1.5552 towards 1.5600 and 1.5640. In the four-hour chart, mild negative divergence has been developing.

Trade: Sell below 1.5400, risk traders can buy above 1.5450 and safe traders can buy above 1.5485.

Key resistance levels to watch:

1.5520 double top-h4

1.5535 200Dema

1.5552 previous swing

Support: 1.5355 double bottom-h4

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Technical analysis and trading recommendation for EUR/USD for May 11, 2015 Market Analysis Review

The new week starts with a big event, the Eurogroup's meeting. The Finance Minister of Germany expected difficulties in reaching an agreement on Greece within today's Eurogroup's meeting. But the Greek government expects progress in negotiation with Greece lenders. After today's big event, major economic data fall on Wednesday. French, Italian, and German prelim GDP q/q, French prelim non-farm pay roll q/q, French CPI m/m, German final CPI m/m, Flash GDP q/q, Industrial production m/m, and ECB monetary policy meeting accounts due. Wednesday is another big data for this pair. We expect the German GDP to be in the expansion side and Italy and France are likely to be stagnant.

Technical view:The pair was unchanged over the previous week. The pair has been developing the technical bullish signs for 4 consecutive weeks. The divergence between the ECB and Fed favors the long-term bearish view for this pair. The pair managed to close above 20Wsma after 52 weeks. Last week, the pair rejected at weekly parallel resistance of 1.3997 and made a high at 1.3992. The pair fell and closed below 100Dema& 100Dsma.On Friday's session, the pair rejected exactly at 100Dsma. Until the pair closes below 1.1300 100Dsma, bulls will be losing the grip. The parallel support is found at 1.1175; below this 1.1145 is another minor support. The strong bullish support base is found at 1.1050. Until the pair closes above 1.1030, bullish view remains in play. The near term will be capped, in case the price closes below 1.1050. The lower low formation will be launched in case the event takes place. The daily chart indicates the weekly trading pattern framed between 1.1300 and 1.1050. Further bullish will re-ignite in case the price closes above 1.1300. The real panic will be triggered below 1.1030 towards 1.0890. In case the price closes above 1.1300, it can skyrocket towards 1.1397 and 1.1475, whereas 1.1392 is median resistance. Negative divergence has been developing in the daily chart.

Intraday view: In the hourly and four-hour chart, the price was closed and trading below the hourly moving averages 34hrsma. In the H1 chart, 34hrsma is found at 1.1225, until the price remains below 34hrsma, bearish view is likely to move towards 1.1150, 1.1110, and 1.1100. We expect 1.1050 and 1.1030 as well in a day or two. Bulls are strengthening looms above 1.1230 with minor upside possibility at 1.1250, 1.1275, and 1.1300. The real strength is seen only above 1.1300 towards 1.350, a previous high of 1.1392 and 1.1475.

Trade: Selling below 1.1175 buying above 1.1230

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