05/25/15 ~ Best and Easy Analyst News

Monday 25 May 2015

Technical analysis of EUR/AUD for May 26, 2015 Market Analysis Review

All time intervals favor bears. Bulls' last hope is at 1.3680. The 50Msma is found at 1.3688, 200Wsma is seen at 1.3684. April's low is made at 1.3685. The euro is depressed by the ECB's QE and Greek saga. In the monthly and weekly charts, lower high formation is taking place. We can observe multi lows between 1.3735 and 1.3685 in the daily chart. Lower lows formation has been extending in the daily chart as well. The pair closes below near and medium-term moving averages. Early at today's Asian session, the cross has rejected at 50Dsma. The nearest support is found at 1.4000. Ideal selling is available below 1.4000 with targets at 1.3980, 1.3950, and 1.3920 initially. Risky traders can use sl 1.4045 and sell at the current level of 1.4029. Safe selling is available below 1.3980. Until the cross closes below 1.4205, bears will aim at 1.3920, 1.3810, and 1.3750.

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

GGreek Interior Minister Nikos Voutsis warned that it is likely to be hard to make upcoming payments unless they reach a deal. Currently, the Greek issue is major concern. It was a muted session yesterday owing to bank holidays in France, Germany, and the US. Because of lack of economic data, the trading pattern will be determined by news from the US. The Greek debt drama will be the main focus over coming days. The pair closed below 20Wsma. The pair closed below the strong support zone at 1.1050 and 1.1030 provided more strength to the euro bears. The pair broke the bearish head and shoulder pattern aiming at 1.0800 in coming days and at 1.0550 later. These targets will be cancelled in case bulls manage to close above 1.1210. These factors favor further bearish views in the days to come. A divergence between the ECB and Federal Reserve favors bears in the long term. The weekly support is found at 1.0960, which is the last hope for the euro bulls. Monthly gains are completely erased. At yesterday's session, the pair managed to hold the 50Dsma.

Intraday: The last bulls' hope lies at 1.0960 50Dsma. A daily close is seen below 1.0960, bears are aiming at 1.0860, 1.0820, and 1.0800 this week. The intraday trading pattern is found between 1.1050 and 1.0940. An ideal selling opportunity is available below 1.0960 with targets at 1.0930, 1.0900, and 1.0860, stop loss is around 1.1010. In all time intervals, selling below the support or selling on rises is preferable within a day. Today, traders eye on the US core durable goods orders. The March manufacturing data returned back after seven months of negative readings. We expect the April readings to stay above 0.4%. In case readings meet our expectations, use the given selling opportunity. In case negative readings take place, sell on rises. Resistance is seen at 1.1010 and 1.1050.

Support: 1.0940, 1.0900, and 1.0860. Resistance: 1.1010, 1.1050, and 1.1100.

Technical analysis of USD/JPY for May 25, 2015 Market Analysis Review

Fundamental Overview: USD/JPY is expected to consolidate with bullish bias after hitting the 2.5-month high of 121.60 this morning. Liquidity was thin as financial markets in the US and the UK were shut for public holidays. USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 96.18 versus 95.39 early Friday) after higher-than-expected US core CPI of +0.3% on-month in April that was the largest increase since January 2013 (versus forecast +0.2%). Fed Chairwoman Yellen reiterated the US central bank is on track to raise short-term interest rates this year. USD/JPY is also supported by the higher US Treasury yields (2-year at 0.626% versus 0.577% late Thursday), demand from Japan's importers, and the ultra-loose Bank of Japan's monetary policy. But USD/JPY gains are tempered by the Japanese exports and diminished investor risk appetite (S&P 500 closed 0.22% lower at 2,126.06 Friday).

Technical comment: The daily chart is positive-biased as bullish outside-day-range pattern was completed on Friday. The MACD is bullish; stochastics stays elevated at overbought levels; 5- and 15-day moving averages are 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 122 and the second target at 122.40. In the alternative scenario, short positions are recommended with the first target at 120.60 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 120.30. The pivot point is at 121.

Resistance levels: 122 122.40 123

Support levels: 120.60 120.30 120

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Technical analysis of USD/CHF for May 25, 2015 Market Analysis Review

Fundamental overview: USD/CHF is expected to consolidate with bullish bias after hitting almost a one-month highof 0.9457 on Friday. Financial markets in Switzerland were closed for a public holiday. USD/CHF is underpinned by the positive dollar sentiment, the negative Swiss interest rates, and the threat of the Swiss National Bank to carry out CHF-selling intervention. But USD/CHF gains are tempered by the franc demand on the soft EUR/CHF cross.

Technical comment: The daily chart is positive-biased as bullish outside-day-range pattern was completed on Friday. The MACD and stochastics are bullish, although the latter is at overbought levels. Five-day moving average is rising above 15-day moving average.

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 0.95 and the second target at 0.9550. In the alternative scenario, short positions are recommended with the first target at 0.9280 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9215. The pivot point is at 0.9350.

Resistance levels: 0.95 0.9550 0.96 Support levels: 0.9280 0.9215 0.9175

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Technical analysis of NZD/USD for May 25, 2015 Market Analysis Review

Fundamental overview: NZD/US is expected to trade with bullish bias. It is undermined by the positive dollar sentiment, soft dairy prices, decreased investor risk appetite and speculation that the RBNZ would cut interest rate in the coming months. But NZD/USD losses are tempered by the kiwi demand on the soft AUD/NZD cross and NZD-USD interest differential.

Technical comment: The daily chart is negative-biased as the MACD is bearish; stochastics stays suppressed at oversold levels; 5 and 15-day moving averages are falling.

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 0.7370 and the second target at 0.7395. In the alternative scenario, short positions are recommended with the first target at 0.7230 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.7195. The pivot point is at 0.7280.

Resistance levels: 0.7370 0.7395 0.7435

Support levels: 0.7230 0.7195 0.7150

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Technical analysis of GBP/JPY for May 25, 2015 Market Analysis Review

Fundamental outlook: GBP/JPY is expected to consolidate with bearish bias. It is undermined by the weak euro sentiment, diminished investor risk appetite, and Japan's exports. But GBP/JPY losses are tempered by the demand from the Japanese importers.

Technical comment: The daily chart is negative-biased as the MACD and stochastics are bearish. 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 187.05. A break of that target will move the pair further downwards to 185.90. The pivot point stands at 189.35. 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, long positions are recommended with the first target at 190 and the second target at 190.60.

Resistance levels: 190 190.60 191.35

Support levels: 187.05 185.90 185

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

Technical summary:

Wave c of the expanded flat correction continues to unfold as expected. We are looking for a bottom for wave c at 1.4725. Short term, we expect minor resistance near 1.5062 will protect the upside for a break below support at 1.4995 for a continuation lower to 1.4725.

It will take an unexpected break above resistance at 1.5208 to indicate a bottom for wave (ii) already is in place.

Trading recommendation:

We will sell EUR at 1.5050 or upon a break below 1.4995 with stop placed at 1.5195.

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

Technical summary:

The correction in wave (ii) from 136.96 continues to unfold as we expected. Wave c of (ii) is currently unfolding towards the target area of 132.79 - 133.08, this area could terminate the correction in wave (ii), but we don't yet have any signs of a possible bottom being in place.

In the short term, we expect minor resistance at 133.83 to protect the upside for the continuation lower to 133.08 and likely even closer to 132.79 before a possible bottom is in place.

Trading recommendation:

We are looking for a EUR-buying opportunity near 132.79, but will wait for a more proper buying signal.

GOLD COULD RISE FACING SUPPORT Market Analysis Review

In past two months, Gold hasn't showed any clear direction. The price moved in a 50-dollar range trading between 1180 and 1230 dollars for one troy ounce of gold. As no clear direction has been established, the best strategy is to use Oscillators to capitalize on the oversold/overbought market conditions.

While precious metal broke above the ascending channel, it rejected the resistance level R3 (1231.36), which is 23.6% Fibonacci level applied to the channel breakout point. Currently, the price dropped back to the 61.8% Fibs supporting S1 (1204.92), which is rejected. At the same time, DeMarker Oscilator crossed the oversold line from above suggested short-term growth.

If gold continues to trade above the S2 (that is the lowest point below S1 support), consider buying the yellow metal near S1 (1204.92) targeting either R1 (1213) or R2 (1221) resistance levels. Only a daily close below S2 could send the price lower to test S3 (1195).

Support: 1204.92, 1201.36, 1194.79

Resistance: 1213.04, 1221.23, 1231.36

gold-h4-instaforex-group_(1).png

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Technical analysis of USD/CHF for May 25, 2015 Market Analysis Review

Overview:

In the long term, the USD/CHF pair is likely to set strong resistance at 0.9599 and support stands at 0.9321 today. The price is still moving around the key level of 0.9475 since the market opened. Moreover, the USD/CHF pair is still below the ratio of 50% of Fibonacci retracement levels. Additionally, the RSI calls for the downtrend. As a result, the price has already formed the strong resistance at this spot of 0.9599. The pair is approaching it in order to test it now. The USD/CHF pair is likely to get downside momentum rather convincing. The structure of the fall does not look corrective for indicating a bearish opportunity below 0.9599. It will a good sign to sell below 0.9599 with the first target at 0.9427(this level is coinciding with the daily pivot point) and it will call for the downtrend to continue towards 0.9321 (the weekly support 1).

Observations:

Major support is seen at the level of 0.9321.
Major resistance will set at the level of 0.9599.
We expect a new range up to 293 pips this week.
If the trend is upward, the strength of the currency will be defined as: USD is in an uptrend and CHF is in a downtrend.
Stop loss should never exceed your maximum exposure amounts.
As a rule, the market is highly volatile if the last day had huge volatility.

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Technical analysis of USD/CAD for May 25, 2015 Market Analysis Review

Overview:

The price of the USD/CAD pair is continuing to show signs of strength following the break of resistance at the level of 1.2135 (23.6% of Fibonacci retracement levels). Also, it should be noted that the level of 1.2135 represents strong support in the H4 chart this week. Therefore, the USD/CAD pair resistance was broken and turned to support last week. Moreover, the pair has already formed the strong support at 1.2135. So, the market indicates a bullish opportunity in the area of 1.2135/1.2150 with a target at 1.2315 and continues toward the second resistance at the level of 1.2376. At the same time frame, the ratio of 50% Fibonacci retracement levels coincides with the level of 1.2376. If the trend breaks this level and closes below the key level (1.2130), it will be rather convincing downside momentum. The structure of the fall does not look corrective. So, the market will indicate a bearish opportunity at 1.2115. It will be a good sign to sell at this level with targets at 1.2027 (the support has already been placed at 1.2027) and 1.1919 in order to test the double bottom.

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Gold analysis for May 25, 2015 Market Analysis Review

Overview:

Gold has been trading sideways around the level of $1,205.00. The price supports cluster around the level of $1,201.00. We can observe weak price action in a volume just above the average in the daily time frame. The short-term trend is neutral. The daily resistance at the level of $1,224.00 held successfully. If the price breaks the level of $1,224.00 in a high volume and strong price action takes place, we may see possible testing at the level of $1,250.00 (Fibonacci expansion 100%). Anyway, I found strong trading range between the price of $1,214.00 and $1,201.00. I am waiting for a clear breakout with a high volume to confirm direction. We can observe sign of weakness (SOW) inside the trading range, which is a sign that this is more likely a redistribution.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,205.40

R2: 1,206.00

R3: 1,206.50

Support levels:

S1: 1,204.00

S2: 1,203.50

S3: 1,202.80

Trading recommendations: Be careful when buying gold below the price of $1,225.00.

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EUR/NZD analysis for May 25, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been trading downwards. The price tested the level of 1.4999 in a high volume . The short-term trend is bearish. According to the daily time frame, supply is in a volume below the average. According to the 30-minute time frame, the price has broken the strong trading range between the price of 1.5040 and 1.5260. Be careful when buying. I placed Fibonacci expansion to find potential bearish targets and got Fibonacci expansion 61.8% at the price of 1.5070 (broken), Fibonacci expansion 100% at the price of 1.4940 and Fibonacci expansion 161.8% at the price of 1.4725. Watch for potential selling opportunities after retracement.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5170

R2: 1.5210

R3: 1.5270

Support levels:

S1: 1.5045

S2: 1.5000

S3: 1.4940

Trading recommendations: Be careful when buying EUR/NZD at this stage since we can observe strong bearish activity (volume) in the background and broken trading range.

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Analysis of GBP/CAD for May 25, 2015 Market Analysis Review

Following the downtrend from 1.9550 to 1.8146, which started at the level of 24.02.15 and ended at 17.04.15, GBP/CAD almost immediately switched to an uptrend. There was some sort of a range lasted for approximately two weeks, but then on the May 05, 2015 pair broke above the high.

Simultaneously GBP/CAD broke above the 38.2% Fibonacci retracement level applied to the 15.02 high and 17.04 low. The quote continued to increase taking out both 50% and 61.8% Fibonacci retracement levels. Currently, the pair is trading near the 61.8% Fib level where the point of the uptrend trendline rejection (not for the first time).

All the facts are pointing to the validity of the uptrend and GBP/CAD could be getting ready for a next wave up. Consider buying GBP/CAD near S1 (1.0914), which is broken 61.8% Fibs resistance. Target should be near the previously established high near R1 (1.9550) as no other major obstacles are seen prior to this rate. The major support level is located near S2 (1.8847) and only clear break below could send the pair back to S3 (1.8698).

Support: 1.9014, 1.8847, 1.8682

Resistance: 1.9550

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Technical analysis of EUR/JPY for May 25, 2015 Market Analysis Review

General overview for 25/05/2015 10:00 CET

There is still no decisive breakout below the level of 133.09. So, we cannot be sure that the top at the level of 136.95 is the major swing top for a larger time frame cycle. It looks like the market is trying to definitely ensure this top is in place as the current wave progression looks very bearish. However, the intraday sub-wave might be considered slightly bullish as there is bullish divergence between the price and momentum oscillator. But the bias is still bearish in the larger perspective and lower lows are expected on this market.

Support/Resistance:

133.09 - Major Technical Support

133.30 - Intraday Support

133.48 - Technical Support

133.92 - Intrday Resistance

134.29 - Weekly Pivot

Trading recommendations:

As the market is approaching the major support level, it is advised to stay aside for a while and observe the market response. If the level holds, small corrective rally should be expected. That gives an opportunity to open sell orders ( levels 133.92 - 133.50). It it does not hold, selling on corrections up to the level of 133.09 is the way to trade on this market for now.

Technical analysis of USD/CAD for May 25, 2015 Market Analysis Review

General overview for 25/05/2015 09:40 CET

AAccording to the main count, wave 5 impulsive structure to the upside had been completed. Now, it looks like it is time for a corrective cycle to begin. The support for this view comes with one of Elliott wave rules, that says that the length of wave 5 is very often equal to the length of the wave 1. This kind of relationship is shown in the current technical picture. There is still a slight possibility that the market will make one more marginal spike higher above the intraday resistance at the level of 1.2320 to complete an internal sub-wave -v. A break below the level of 1.2216 is likely to invalidate this view. Please notice that another confirmation of a short-term top comes from building bearish divergence between the price and the momentum oscillator. The first level of support is projected at 1.2146.

Support/Resistance:

1.2320 - Intraday Resistance

1.2256 - Intraday Support

1.2234 - Weekly Pivot

1.2146 - WS1

Trading recommendations:

Daytraders should consider opening sell orders as close to the level of 1.2320 as possible with a very tight SL ( 20-30 pips) and set TP orders at the level of 1.2256 with a possible extension downward to the level of 1.2234.

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#USDX wave analysis for May 25, 2015 Market Analysis Review

The Dollar index continues to move in an impulsive pattern higher breaking above March low at 96.15. This means that the upward bounce from 93.10 is not a wave 4. Most probably, we have seen the end of a three wave downward correction at 93.10 near the 38% retracement. What we expect now is a new upward move to push the price towards new highs.

Breaking above the cloud resistance and out of the downward sloping wedge were the initial signals of a trend reversal. The Dollar index has completed wave 5 upward move from 93.10 to 95.85. It was pulled back to 38% retracement and started a new upward wave to higher highs for the short-term. The fact that the pullback was so shallow is another sign of strength for the dollar.

The Dollar index has overlapped the March low canceling any wave count that was implying. The decline from theFebruary highs is in 3 waves and completed. The bounce is impulsive and bulls are likely to test the Ichimoku cloud at 96.90-97. A breakout above this area will increase chances that the Dollar index will rally to new highs.

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Gold technical analysis for May 25, 2015 Market Analysis Review

Gold price remains above the short-term support level of $1,200 but the weekly trend remains trapped below $1,230 and above $1,180. Gold continues to move sideways but the overall picture is not promising. Unless we see a weekly close above $1,230, bulls should be very cautious.

The short-term chart remains neutral as the price is moving sideways as shown above. The price is slightly below the Ichimoku cloud, something that could tip the balance in favor of the short positions. Resistance is found at $1,216 while support below $1,200 is found at $1,180.

The weekly chart remains bearish as the price remains below the Ichimoku cloud and below the kijun-sen. Support at $1,180 by the tenkan-sen is important. Up to now, we can see gold price to be found at kijun-sen as resistance that cannot be broken. Another rejection here could signal the end of the upward bounce from $1,169. I believe that we will see a break below the important support of $1,130 during the summer.

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Technical analysis of EUR/USD for May 25, 2015 Market Analysis Review

EUR/USD

The euro nosedived against USD at Friday's session after Mario Draghi's speech at the ECB's forum. Last week, the pair opened at 1.1450 and lost 4% by the end of the week. We have been repeatedly advised to book profit or sell with sl 1.1535 from May 14. We forecasted that the pair would be capped between 1.1480 and 1.1535. The pair made a high at 1.1465 and changed its direction towards south. The divergence between ECB and Federal Reserve favours bears in the long term. The ECB executive member said the Central Bank is likely to increase purchase of euro assets ahead of summer. Low-liquidity favor the euro bears. The FOMC minutes provided power to the dollar bulls. The Greek factor is the major bearish factor in the coming days. These fundamental factors made the pair favor selling on a rise. Greece was given four month extension to its bailout in February. On July 20, Greek bond will total 3.5 billion euros matures by the ECB.

Because of lack of economic data, the trading pattern will be driven by the news flow from the US. The Greek debt drama will be the main focus in coming days. Today, we expect soft movements owing to a bank holiday in France, Germany and US. On Friday, German retail sales m/m and Spanish flash CPI y/y were released. The recent German data provided the inconsistent growth.

Weekly technical view: The pair showed a 5-week winning streak lost 4% last week. The pair closed below 20Wsma. The pair closed below the strong support zone at 1.1050 and 1.1030 provided more strength to the euro bears. The pair broke the bearish head and shoulder pattern aiming at 1.0800 in coming days and at 1.0550 later. These factors favor further bearish views the coming days. The 1.1000 is seen at the fib 50.0 entire rise from a low to a high of 1.1465. These targets will be cancelled in case the bulls managed to close above 1.1210. The weekly support is found at 1.0940, which is the last hope for the euro bulls. The monthly gains completely erased.

Support: 1.0940, 1.0800, 1.0660

Resistance: 1.1120, 1.1210, 1.1285

Intraday: The pair has the nearest support finds at 1.1000, the 50.0 fib level entire rise from the lows. The last bulls' hope lies at 1.0940 50Dsma. A daily close below 1.0940, bears aim at 1.0860, 1.0820, and 1.0800 this week. Intraday trading pattern is found between 1.1050 and 1.0940. We advise to sell on a rise. When Monday's session opened, bears started selling below 1.1000 with targets at 1.0960 and 1.0945. We advise fresh selling below 1.0940 within the European and American sessions.

Support: 1.0940, 1.0900, 1.0860

Resistance: 1.1050, 1.1120, 1.1170

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

Technical analysis of USDX&USD/CAD for May 25, 2015 Market Analysis Review

The dollar index gave a strong close after a 5-week losing streak. The index managed to close above 20wsma and 100D&Ema. It was bulls' greatest development over the past week. We forecasted on May 18 that the USDX and USD related pairs are likely to change the direction. The USDX closed at 96.27 3.5% compared to the previous week's closing. The nearest resistance is seen at 96.30 and 96.50. In the four-hour chart, the index gave a bullish break of inverse head and shoulder aiming at 97.50 initially. Median resistance is seen at 96.85 50Dsma.

USD/CAD

The pair showed a 5-week falling streak and gave a strong bullish close last week. The pair regained its 4-weeks losses in just 1 week. After 2 weeks of consolidation between 1.1940 and 1.1920 the pair is finally on a verge of a bullish breakout. On May 15, we advised bottoming in process was likely to hit 1.2300 and 1.2350. Now, the pair gained 300 pips from our buying level.

The pair made a triple bottom at 1.2169 edging up higher towards the key trend-change level. The nearest resistance is seen between 1.2321 50Dsma and 1.2360 100Dsma. In case of a daily close above 1.2360, bulls will aim at a new high. Today, the pair has opened on a bullish note. Weekly support is found at 1.2169 and 1.2100. Weekly resistance is seen at 1.2400 20Dsma. A week close is above 1.2400, bulls aim at 1.2650 immediately.

Intraday: Intraday resistance is seen at 1.2325 and 1.2360. Support is found at 1.2278 and 1.2240. The buying opportunity is available above 1.2325 like 1.2350 and 1.2400. Traders, please keep in mind that 1.2360 is the crucial level to handle. Selling opportunity is available below 1.2250 aiming at 1.2225, 1.2210, and 1.2200. The selling pressure will emerge below 1.2200 towards 1.2170 and 1.2150.

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

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Technical analysis of EUR/JPY for May 25, 2015 Market Analysis Review

EUR/JPY

The Greek factor drives the euro this week. BOJ monetary policy meeting minutes are due on Tuesday. The retail sales index y/y is expected to be published on Wednesday. Tokyo core CPI y/y and National core CPI y/y are due on Thursday. As Japanese retail sales have been disappointing for a while, we express the same view this time as well. The unemployment rate and national core CPI data are expected to be optimistic.

The cross rejected at 100Wsma again and erased most of its previous week's gains. Last Monday, on May 18, the cross rejected at 200Dsma. By the end of the week, it closed below 200D & Sma and 20Dsma. This was the fourth time the cross rejected at the same levels. The parallel support is found at 133.48 and 133.00 strong support seen at 132.67. The weekly support is found at 132.66 20Wsma. Bull's last hope lies at 131.15 50Dsma. Big distribution pattern and head and shoulder have been forming in the four-hour chart. In case the price closes below 133.00, we will conclude that the near and medium terms are capped. The cross favors selling on rise. The selling range is set between 134.75 and 135.15 sl 135.35.

Intraday: The cross has the nearest support found at 133.72, 133.46 and 133.10 are likely below this. Bulls' last hope lies at 133.00 for intraday. In case the price takes out 133.00, bears will aim at 132.40 and 131.75. Intraday resistance is seen at 134.22 and 134.55. In the four-hour chart, lower high formation was painted after 2 weeks. The cross made a double top in the H1 and H4 charts. Bears have a selling opportunity below 133.70 for a small target at 133.46. Real selling is below 133.45 towards 133.00. The panic will be triggered below 133.00 towards 132.35. Bulls have a minor buying opportunity above 134.15 aiming at 134.40. While the cross is tradeing below 135.55, use every rise to sell is the best strategy.

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

Technical analysis of Silver for May 25, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver is trading at $17.00/10 levels at the moment, for an opportunity to resume its rally. Please note that the metal has been well supported around the fibonacci 0.50 levels at $16.90. It is still possible that the metal drops up to fibonacci 0.618 support at the level of $16.75 before resuming its rally further. It is recommended to remain long for now with stop around the level of $16.30/40, leaving more room for a correction. Immediate support is seen at $16.90 (interim) followed by $16.20, $15.80, and lower. Resistance is seen at $17.70/80 followed by $18.40/50 and higher respectively.

Trading recommendations:

Remain long for now, stop at $16.30, a target is open.

Good luck!

Technical analysis of Gold for May 25, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold has tested $1,200.00/01.00 twice earlier and is trading around the level of $1,204.00 now. The metal has bounced off around fibonacci 0.50% support region but still has potential to drop towards $1,195.00/96 before resuming its rally. Also, note that past resistance turned out to be support and fibonacci 0.618 support falls to the area around $1,195.00/96.00. It is hence recommended to remain long with risk below $1,190.00 now allowing space for further correction. Immediate support is seen at $1,200.00 (interim) followed by $1,195.00, $1,180.00, and lower. Resistance is seen at the level of $1,225.00 followed by $1,235.00/40.00 and higher respectively.

Trading recommendations:

Remain long for now, stop at $1,190.00, a target is open.

Good luck!

Technical analysis of EUR/JPY for May 25, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair is trading around 133.50/60 now after hitting a low at 133.28 earlier. The pair has dropped close to the levevl of 133.00 as expected and could possibly retrace higher before continuing to drop lower again. It is hence recommended to take profits on the short positions taken earlier. Aggressive trade setups could be to initiate long positions now with risk below 133.00. Immediate support is seen at the levels of 133.00/20, followed by 131.50, 129.00, 128.00, and lower. Resistance is seen at 135.50 (interim), followed by 137.00 and higher respectively.

Trading recommendations:

Book profits on short positions now. Initiate 50% long positions stop at 132.80, a target is open.

Good luck!

Technical analysis of GBP/CHF for May 25, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is trading around the level of 1.4580/90 now and has remained just shy of 1.4700/10 before pulling back lower. The pair seems to be preparing to drop lower to the level of 1.4150 before resuming its rally further. It is hence recommended to initiate 50% short positions now, with risk at 1.4740. Immediate support is seen at 1.4400 followed by 1.4300, 1.4150, 1.4000, and lower while resistance is seen at 1.4700 followed by 1.4800, 1.4950, and higher respectively. Bears are expected to take control from the current levels or after taking out 1.4700 resistance.

Trading recommendations:

Initiate 50% short positions, stop at 1.4740/50, target around 1.4150.

Good luck!

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Technical analysis of GBP/USD for May 25, 2015 Market Analysis Review

GBP/USD

The cable got away from a 6-week high of 1.5815.Last week, the pair opened at 1.5746 and lost 1.7% by the end of the week. We have been repeatedly advised to book profit or sell with sl 1.5835 from May 14. We forecasted that the pair would be capped between 1.5800 and 1.1835. The pair made a high at 1.5815 and changed its direction towards south. Economic data published last week supported the pound and the lowest CPI was the laggard. Traders were willing to buy the pound on dips. After the UK election, the EU referendum is seen to be the next major event. Mr. Cameron pointed an earlier date in May 2016 then expected 2017.

This week is a data-light week on the UK macro front. The major data fall on Thursday, that is the second reading of GDP q/q. The week started with a bank holiday in the UK and US. We expect soft movements during today's trade.

Weekly technical view: The pair showed a 2-week winning streak lost 1.7% in the previous week. At Friday's session, the cable managed to hold the 20Dsma found at 1.5455 and a low made at 1.5461. The parallel support is found at 1.5446 and 1.5393 that is previous week's low. Before starting the next leg up, we expect the cable to touch 1.5330 and 1.5300. In case bulls lose control at 1.5300, another leg down is expected towards 1.5220 where buying is available. The cable favors buying on dips with sl 1.5100. Bottom fishing is seen between 1.5220 and 1.5150 with sl 1.5100. The cable closes below 200D&Ema favoring the near-term weakness and structural bullish view remains in play. We can observe minor distribution between 1.5700 and 1.5690. Until the cable closes below 1.5700, bears are likely to retest 1.5330 and 1.5300. This is just a normal technical correction after a big jump. The cable closed below the ascending trendline, started making lower high formation. The lower levels of 1.5220 and 1.5150 are expected in case the price closes below 1.5393.

Support: 1.5440, 1.5390, 1.5300

Resistance: 1.5575, 1.5655, 1.5700.

Intraday: The nearest support is found at 1.5446. Bears have a selling opportunity below 1.5440 aiming at 1.5390, 1.5355, 1.5340, and may be 1.5300. Intraday resistance is seen at 1.5525, 1.5600, and 1.5650. Until the price closes below 1.5700, bears have the upper hand. Bulls have a buying opportunity above 1.5525 aiming at 1.5538, 1.5570, and 1.5600. In the extreme case bulls can aim at 1.5660. Bulls will regain the strength above 1.5700.

Trade: Selling below 1.5440 buying above 1.5525

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

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

For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/USD for May 25, 2015 . Thanks for your support.

Daily analysis of USDX for May 25, 2015 Market Analysis Review

The USDX remains very strong in the bullish trend on the daily chart. It is also doing a consolidation above the support level of 95.74 with a target around the level of 96.97. If the index does a breakout in that zone, we could expect a rally towards the level of 98.08. The daily chart is already calling for more upside room for this week.

The last Friday was important for the current intraday structure of the USDX, because the index is already forming a higher high pattern above the support level of 96.21. Also, if the USDX does a consolidation above the 96.46 level, it would be expected to do a rally until the 96.90, which is an important high. The MACD indicator is in the overbought zone.

Daily chart's resistance levels: 96.97 / 98.08

Dailychart's support levels: 95.74 / 95.00

H1 chart's resistance levels: 96.46 / 96.90

H1 chart's support levels: 96.21 / 95.82

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 96.46, take profit is at 96.90, and stop loss is at 96.04.

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Daily analysis of major pairs for May 25, 2015 Market Analysis Review

EUR/USD: A drop over 420 pips last week has established the weakness on the EUR/USD. There is a Bearish Confirmation Pattern on the market now: the price would go further downwards this week, testing the support lines at 1.0950 and 1.0900. More intense bearish pressure could even take the price beyond these support lines.

USD/CHF: This pair has turned bullish. The price trended upwards from the support level at 0.9150, testing the resistance level at 0.9450. That is a movement of 300 pips and further northward journey is possible. The only challenge to this expectation is a possible stamina in CHF.

GBP/USD: On the cable, the last week was characterized by serious battle between bulls and bears, but at the end of the week, the bears gained the upper hand. However, the recent bullish bias would be violated only when the accumulation territory at 1.5400 gets breached to the downside. The bullish bias is seriously threatened – it would be invalid only after the aforementioned accumulation territory is violated.

USD/JPY: The USD/JPY pair moved upward by 200 pips last week. The upward journey started at the demand level of 119.50 and it has gone beyond the demand level at 121.50. This bullish journey has put the end to the recent protracted equilibrium phase on the market: the price would continue its journey upwards as long as USD is strong.

EUR/JPY: The fate of this cross would continue to be determined largely by whatever happens to the euro. The current weakness on the market is caused by the weakness in the euro itself, and things have already turned bearish, the trend that could be sustained this week.

Daily analysis of GBP/USD for May 25, 2015 Market Analysis Review

GBP/USD continues to trade lower and riding a bearish bias below the 200 SMA at the daily chart. Also, we expect a bearish continuation until the support level of 1.5346 during this week. The current price action shows a fractal formation that favors bears in this time frame. The MACD indicator is also at negative territory.

During the friday session, GBP/USD had a strong drop below the 200 SMA at the H1 chart and is already testing the zone around the support level at 1.5443. If the pair breaks that level, it would be expected to fall until 1.5358. Currently, there is a lower low pattern formation in place, and we could expect more falls in an intraday basis.

Daily chart's resistance levels: 1.5543 / 1.5745

Dailychart's support levels: 1.5346 / 1.5199

H1 chart's resistance levels: 1.5597 / 1.5670

H1 chart's support levels: 1.5443 / 1.5358

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5443, take profit is at 1.5358, and stop loss is at 1.5534.