05/26/15 ~ Best and Easy Analyst News

Tuesday 26 May 2015

Technical analysis of GBP/CHF for May 27, 2015 Market Analysis Review

Technical outlook and chart setups:

As discussed yesterday, there was no significant changes in the price action up to now and the GBP/CHF pair is preparing for a retracement before resuming its rally. The pair is trading around the level of 1.4650 at the moment and might want to test 1.4700/10 before reversing lower towards 1.4150. It is recommended to remain short and look to add further around the levevl of 1.4700 with risk around 1.4760. Immediate support is seen at 1.4530 levels followed by 1.4400, 1.4300/50, and lower. Resistance is seen at 1.4700/10 followed by 1.4850 and higher respectively.

Trading recommendations:

Remain short for now, stop at 1.4760, a target is open.

Good luck!

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Elliott wave analysis of EUR/NZD for May 27, 2015 Market Analysis Review

Technical summary:

We are still looking for one final decline closer to the ideal target at 1.4725. That said yesterday's rally to 1.5079 wasn't a part of our roadmap and it does cause concern. The only pattern that allows the overlap we saw yesterday is an ending diagonal. So, this is what we will be looking for as long as resistance at 1.5079 protects the upside.

That said, a break above resistance at 1.5079 will invalidate the bearish count and indicate that a bottom already is in place at 1.4926 and a new impulsive rally in wave (iii) should be expected.

Trading recommendation:

We are short EUR from 1.4995 and will move our stop+reverse lower to 1.5080 and we will place take profit+reverse at 1.4950.

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For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/NZD for May 27, 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for May 27, 2015 Market Analysis Review

Technical summary:

We saw a minor wavefive rally from a low of 133.07, which tells us that the correction in wave (ii) is over and wave (iii) higher towards at least 144.03 and more likely to 150.77 is developing. In the short term, we will ideally see the 61.8% corrective target of blue wave i at 133.62 protecting the downside for a break above minor resistance at 134.11 and more importantly a break above 134.52 confirming wave (iii) higher is developing.

As long as minor resistance at 134.18 is able to protect the upside, we must allow more deeper correction in blue wave ii, but at no point a break below 133.07 can be allowed or this count will be invalidated.

Trading recommendation:

We will buy EUR at 133.50 or upon a break above 134.18 (one order done cancels the other) stop will be placed at 133.00

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

The UK retail sales hit a 27year high. The growth in retail sales picked up strongly in the year to May and expectations for the next month are at their highest for 27 years, according to the CBI's latest quarterly Distributive Trades Survey. CBI Director of Economics Rain Newton-Smith said, “Low inflation, which we expect to remain below 1% for the rest of the year, has given household incomes a much-needed boost and greater spending power". The pound fell against USD for the third consecutive day. The stronger US data pushed the majors to lower levels against USD. The cable is trading at a 2-week low.

The cable has the nearest support found at 1.5345. Yesterday, the cable managed to help support at 61.8FE. Intraday support is found at 1.5380, 1.5355, and 1.5345. The hourly momentum indicators indicating oversold levels. The buying opportunity is available in two options. Safe trades should buy above 1.5400 with small targets at 1.5420, 1.5440, and at least 1.5460. Risky traders should use sl 1.5340 to buy. Though, we maintain our view bearish for coming days. Today, we recommend a minor opportunity buying with small sl. Bears have two different options at today's session: to use a rise to sell between 1.5460 and 1.5490 sl 1.5510 or to sell below 1.5340, 1.5300, and 1.5260. Intraday resistance is seen at 1.5470 2Dsma. Weekly support is found at 1.5150 and 1.5100.

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

Technical analysis of USDX & USD/JPY for May 27, 2015 Market Analysis Review

TStrong US data helped the US Dollar Index inch above 50Dsma. The USDX managed to close above 50Dsma as well. The Conference Board Consumer Confidence Index, which declined in April, increased moderately in May. The Index stands at 95.4 now, up from 94.3 in April. The US housing data added extra power to the USD bulls. New homes purchasing in the US expanded in April. Intraday resistance is seen at 97.50. Fresh move is likely to take place above 97.50 towards 98.40 and 99.20. We initially advised buying at 94.20.

USD/JPY

We have been repeatedly advising buying this pair on every dip with sl 118.00 later raised the TSL for targets at 122 and 123.00 (Article May 14&15). Finally, the pair met our targets after 9 days. Yesterday's stellar intraday fireworks took place after more than 3 months. The nearest resistance is seen at 123.66 and 124.13 that were highs back in July 2007 and June 2007. Today, the pair made a high at 123.32, which is a double top. Small buying is available above 123.35 with targets at 123.50/123.60 and 124.10/124.20. Before the next move up, we expect the pair to correct a bit targets at 125.00 and 125.70.

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

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USDX & USD/JPY for May 27, 2015 . Thanks for your support.

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

USD/CAD

Ahead of the BOC rate statement, CAD is trading higher against USD early at the Asian session. The monthly monetary policy statement is due for 10.00am ET. Canada's economy remains in optimistic mood. The weak loonie helps the export-led economy to expand exports. Falling oil prices are influencing the economy of Canada. We expect Poloz to mantain rates unchanged at 0.75%. The pair gave another stellar move yesterday. The pair has been gaining for 3 days. The pair managed to close above 100Dsma and 20Wsma at yesterday's session. Another great work of bulls. We have been repeatedly advising buying from 1.2000 (May 15th). Buy on dips continues. We recommend intraday fresh buying above 1.2450 with targets at 1.2480 and 1.2520. In case of a daily close above 1.2365, bulls will aim at 1.2650. In case of a weekly close above 1.2400, bulls will aim at 1.2800.

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 USD/CAD for May 27, 2015 . Thanks for your support.

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

The USDX managed to break the resistance zone of 96.97 and now it's focusing to test the next upside target at 98.08. We're at important levels and we should be cautious when trading owing to bullish momentum on the Index. As the current price action is showing that bulls are in control, we should follow this bias.

In the H1 chart, the USDX continues to trade in favor of the upward trend. Also, it's moving sideways, that could mean it could be forming a bullish pattern. In case of success, it has to break the resistance level of 97.60 in order to rally towards the level of 97.97. 200 SMA is still bullish, but the MACD indicator is in the negative territory.

Daily chart's resistance levels: 98.08 / 98.64

Daily chart's support levels: 96.97 / 95.74

H1 chart's resistance levels: 97.16 / 97.97

H1 chart's support levels: 97.16 / 96.90

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is at 97.60, take profit is at 97.97, and stop loss is at 97.25.

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For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of USDX for May 27, 2015 . Thanks for your support.

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

The GBP/USD pair is still bearish and it's prepearing to test the support level at 1.5346 again. There is a high risk of a breakout in that territory for a lower continuation towards the support level of 1.5199 in coming days. 200 SMA is still flat on the daily chart. We would expect some kind of sideways moves before that possible breakout.

In the H1 chart, GBP/USD is trading in favor of the intraday bearish bias below the 200 SMA. Also, the bottom at the support level of 1.5358 is still solid and that's why we would expect a lower low pattern formation. For now, GBP/USD continues to form lower swings and the current structure is favoring downside.

Daily chart's resistance levels: 1.5543 / 1.5745

Daily chart's support levels: 1.5346 / 1.5199

H1 chart's resistance levels: 1.5443 / 1.5513

H1 chart's support levels: 1.5358 / 1.5259

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 1.5358, take profit is at 1.5259, and stop loss is at 1.5459.

Daily analysis of major pairs for May 27, 2015 Market Analysis Review

EUR/USD: This pair has moved downwards by around 120 pips this week. Now, it is trading below the resistance line at 1.0900. The support line at 1.0800 could be tested this week as the price continues its weakness. The resistance line at 1.0950 is a good barrier to the bulls' interests now.

USD/CHF: This currency trading instrument has moved upwards by about 100 pips this week. Now it is moving above the support level at 0.9500. The resistance level of 0.9600 could be tested today or tomorrow as the price continues to show lots of stamina. The support level at 0.9400 could do a good job in frustrating the bears' effort in the days to come.

GBP/USD: As it was mentioned in yesterday's forecast, the distribution territory at 1.5400 was breached to the downside. There is a strong Bearish Confirmation Pattern in the market and additional accumulation territories at 1.5300 and 1.5250 could be breached to the downside. However, this would not happen without some obstruction from bulls.

USD/JPY: The USD/JPY pair has moved upwards by over 370 pips since it went up from the demand level at 119.50. There is a very strong bullish bias on the market, which would continue until there is significant weakness in USD. As long as USD is strong, the price would continue its upward journey, battering the supply level at 124.00.

EUR/JPY: The weakness in the yen lets this cross to avoid bearish plunge, which is as strong as that of the EUR/USD. However, a bias is bearish as the EMA 11 is below the EMA 56 and the RSI period 14 is below the level of 50. Further bearish movement is possible.

Technical analysis of EUR/USD for May 27, 2015 Market Analysis Review

!EURUSD.jpg

When the European market opens, economic data on the Belgian NBB Business Climate, German 30-y Bond Auction, ECB Financial Stability Report, and GfK German Consumer Climate are due. The US is not expected to release any economic data today. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0938.

Strong Resistance:1.0932.

Original Resistance: 1.0921.

Inner Sell Area: 1.0910.

Target Inner Area: 1.0885.

Inner Buy Area: 1.0860.

Original Support: 1.0849.

Strong Support: 1.0838.

Breakout SELL Level: 1.0832.

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.

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/USD for May 27, 2015 . Thanks for your support.

Technical analysis of USD/JPY for May 27, 2015 Market Analysis Review

!USDJPY.jpg

In Asia, Japan will release the Monetary Policy Meeting Minutes while the US is unlikely to release any economic data today. So, there is a strong probability that USD/JPY will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 123.81.

Resistance. 2: 123.57.

Resistance. 1: 123.33.

Support. 1: 123.03.

Support. 2: 122.79.

Support. 3: 122.55.

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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 27, 2015 . Thanks for your support.

Technical analysis of EUR/CAD for May 27, 2015 Market Analysis Review

Ahead of the BOC rate statement, CAD is trading higher against the euro. The monthly monetary policy statement is due for 10.00am ET. Canada's economy remains in optimistic mood. The weak loonie helps the export-led economy expand exports. Falling oil prices are influencing the economy in Canada. We expect Poloz to maintane rates unchanged at 0.75%. The cross is trading at 1.3515 compared to Tuesday's closing price of 1.3518. Bulls are likely to find support at 1.3430, 1.3400, and 1.3385. Bulls' last hope lies at 1.3380.

Intraday support is found at 1.3500, 1.3475, and 1.3425. Intraday selling is available below 1.3490 with targets at 1.3475 and 1.3430. In the latter case the price is likely to re-test the level of 1.3400. Safe selling is seen below 1.3475. The panic will be triggered below 1.3380 at 1.3270 and 1.3210 in a day or two.

Intraday buying is available above 1.3540 with targets at 1.3560, 1.3580, and 1.3600. For positional bulls, risk buying is available between 1.3430 and 1.3400 sl 1.3380. The real bulls strength is available above 1.3600 towards 1.3660. Bulls will aim at a new high in case the level of 1.3670 gets broken.

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 EUR/CAD for May 27, 2015 . Thanks for your support.

Technical analysis of EUR/USD for May 27, 2015 Market Analysis Review

Today is understandably a quiet day for the euro because of lack of macroeconomic data. Traders shifted the focus to the US. The US housing data added extra power to the USD bulls. USD traded higher against majors. New homes purchases in the US expanded in April. The Federal Reserve's rate hike decision depends on data release. The CB consumer confidence increased moderately in May. The Index stands at 95.4 now, up from 94.3 in April. Yesterday's positive US data raised hopes on Fed's interest rate hike.

The pair has been falling for 3 days. After the liquidly returns, the pair posts a big drop at yesterday's session. In seven trading session, the pair posted 4 falling days. This shows the immense selling pressure on the euro takes place. The euro bulls lost the last hope at 1.0950 when the price closed below that. We initially advised selling with sl 1.1535, 1.1130 later, and again below 1.0940, low was made at 1.0863. At today's Asian session, the euro is trading higher against USD. Ahead of Germany Gfk consumer climate data, the euro is trading higher. We expect negative readings. Use rises to sell again for the targets at 1.0820 and 1.0800 initially. On May 25, we advised selling with targets at 1.0800 and 1.0550 later.

Trade: Selling below 1.0850.

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 EUR/USD for May 27, 2015 . Thanks for your support.

AUD/NZD intraday selling pressure Market Analysis Review

AUD/NZD had strong support around the level of 1.0740 that had been rejected for at least 4 times. Nevertheless, the price sliced through this massive support on May 22 that could be strong confirmation of the AUD/NZD being under selling pressure.

Applying the Fibonacci to the support breakout point, the R1 resistance level comes into play. The price is currently rejecting 38.2% Fibs and very successfully. At the same time we can see the pair printing lower lows and lower highs adding more confidence to the validity of the trend down.

Consider selling AUD/NZD near R1 (1.0700), which is Fibs as well as psychological resistance level. Target is 0% Fibonacci that is S2 (1.0585) support area. Only a break above R2 (1.0737) will invalidate this scenario.

Support: 1.0657, 1.0585

Resistance: 1.0701, 1.0737, 1.0773

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

Fundamental Overview:

USD/JPY is expected to consolidate with buoyant tone after hitting the 2.5-month high of 121.78 on Monday. USD/JPY is supported by the positive dollar sentiment on continued impact from the last Friday's higher-than-expected US April core CPI data. Financial markets in the US, the UK and Frankfurt were shut for holidays on Monday and no major data were released yesterday. USD/JPY is also supported by the higher US Treasury yields, demand from Japan's importers, and the ultra-loose Bank of Japan's monetary policy. But USD/JPY upside is limited by the Japanese exports and profit-taking on long-USD positions ahead of the US data on Tuesday.

Technical comment:

The daily chart is positive-biased as 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 123.50 and the second target at 123.80. In the alternative scenario, short positions are recommended with the first target at 121.70 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 121.40. The pivot point is at 122.45.

Resistance levels: 123.50 123.80 124.15

Support levels: 121.70 121.40 121

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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 26, 2015 . Thanks for your support.

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

Fundamental overview:

USD/CHF is expected to trade with bullish bias. It 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 the MACD and stochastics are bullish, although the latter is at overbought levels. 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 0.9550 and the second target at 0.96. In the alternative scenario, short positions are recommended with the first target at 0.9335 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 0.9280. The pivot point is at 0.94.

Resistance levels: 0.9550 0.96 0.9635

Support levels: 0.9335 0.9280 0.9215

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CHF for May 26, 2015 . Thanks for your support.

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

Fundamental overview:

NZD/USD is expected to trade with bearish bias. It is undermined by the positive dollar sentiment, soft dairy prices, and speculation that the RBNZ would cut interest rate in coming months. But the kiwi sentiment is soothed by the larger-than-expected New Zealand April trade surplus of NZ$123 million (versus forecast NZ$98 million). NZD/USD losses are also 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 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 0.72. A break of that target will move the pair further downwards to 0.7170. The pivot point stands at 0.7280. 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 0.7320 and the second target at 0.7370.

Resistance levels: 0.7320 0.7370 0.7395

Support levels: 0.72 0.7170 0.7150

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of NZD/USD for May 26, 2015 . Thanks for your support.

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

Fundamental outlook:

GBP/JPY is expected to consolidate with bullish bias. It is undermined by the weak GBP sentiment 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 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 190 and the second target at 190.60. In the alternative scenario, short positions are recommended with the first target at 188 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 187.05. The pivot point is at 188.60.

Resistance levels: 190 190.60 191.35

Support levels: 188 187.05 185.90

EUR/NZD : analysis for May 26, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been trading downwards. As we expected, the price tested the level of 1.4930 in a high volume . The short-term trend is neutral. According to the daily time frame, supply is in a volume below the average and we got very weak price action. According to the 30-minute time frame, the price rejected from our Fibonacci expansion 100% (1.4950) in a high volume. Be careful when selling EUR/NZD since we may see bullish movements. First strong resistance is around the level of 1.5040.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5050

R2: 1.5065

R3: 1.5090

Support levels:

S1: 1.4995

S2: 1.4980

S3: 1.4955

Trading recommendations: Be careful when selling EUR/NZD at this stage since we can observe strong bullish activity (volume) in the background and rejection from our support.

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Daily analysis of USDX for May 26 2015 Market Analysis Review

In the daily chart, the USDX continues trading with gains above the support zone of 95.74. Now, it's looking to do another rally towards the resistance level of 98.08, after a possible breakout around the level of 96.97. For now, we still want to see another bullish pattern formation before that rally mentioned above. the MACD indicator is at positive territory.

Our short-term outlook is still very bullish, because the Index tries to stay above the key support level at 96.46 and the immediate resistance remains located at the level of 97.16. If the USDX does a breakout in that zone, the next target would be at 97.60 in the days to come. The MACD indicator remains in the neutral territory.

Daily chart's resistance levels: 96.97 / 98.08

Daily chart's support levels: 95.74 / 95.00

H1 chart's resistance levels: 97.16 / 97.60

H1 chart's support levels: 96.90 / 96.46

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 97.16, take profit is at 97.60, and stop loss is at 96.71.

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

Finally, GBP/USD is already testing the support zone around the level of 1.5346 on the daily chart because of weakness. That's why we would prefer to stay riding the bearish outlook in the medium and long term. One of the reasons is represented with dynamic resistance offered by the 200 SMA in this time frame. The price action is very bearish in pattern formations.

The H1 chart is showing a bearish pattern formation taking place below the resistance level of 1.5443. Now it's trying to reach the support zone of 1.5358. If the pair achieves to break that level, it would be expected to test the level of 1.5259 in coming hours. Also, our intraday outlook remains very bearish.

Daily chart's resistance levels: 1.5543 / 1.5745

Daily chart's support levels: 1.5346 / 1.5199

H1 chart's resistance levels: 1.5443 / 1.5513

H1 chart's support levels: 1.5358 / 1.5259

GBP/USD intraday technical levels and trading recommendations for May 26, 2015 Market Analysis Review

Overview:

On March 2, a 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.

As anticipated, the daily closure above 1.5060 (50% Fibonacci level) exposed the next resistance levels at 1.5400 and 1.5450 where extensive bearish pressure was previously applied.

This enhanced the bearish side of the market towards the levels of 1.5300, 1.5250, and 1.5100 where the most recent bullish swing was initiated on May 5.

On the other hand, the price zone of 1.5750-1.5800 (critical resistance zone) offered a valid sell entry almost two weeks ago. Final bearish target at 1.5450 was already reached.

IIntraday Support-1 (price zone of 1.5400-1.5450) is the most prominent support level to be watched for buy entries. However, signs of strong bearish pressure are observed on the chart today.

Initial bullish targets would be located at 1.5650 then 1.5750 if the current support zone remains defended by bulls.

On the other hand, daily closure below 1.5400 (previous weekly bottom) invalidates this bullish scenario exposing the levels around 1.5300 and 1.5150 to be visited shortly after.

That's why the current daily candlestick should be monitored by the end of today's trading sessions.

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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 26, 2015 . Thanks for your support.

USD/CAD intraday technical levels and trading recommendations for May 26, 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 price 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.

A 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 bullish support. A bullish pullback is currently taking place.

The price zone of 1.2350-1.2400 remains significant intraday resistance to be watched at further retesting. This price zone will probably offer a low-risk sell entry at retesting which is taking place today.

Trading recommendations:

Risky traders could have taken a suggested buy entry anywhere around 1.1950. All T/P levels have already been reached. S/L should be advanced to 1.2240 to offside any associated risk.

Conservative traders can take a low-risk sell entry around 1.2350-1.2400. S/L should be placed above 1.2450.

T/P levels should be placed at 1.2220, 1.2100 and 1.1950.

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For detail explanation and best discovery on daily market trends and news you may visit via USD/CAD intraday technical levels and trading recommendations for May 26, 2015 . Thanks for your support.

Gold: analysis for May 26, 2015 Market Analysis Review

Overview:

Gold has been trading downwards. As we had expected, the price tested the level of $1,193.00. The short-term trend is beairsh. The price broke the strong support cluster at $1,201.00 and we may expect further bearish direction. We can observe a sign of weakness (SOW) after a breakout of trading range, which signals that buying looks risky. I have placed Fibonacci retracement to find potential support. I got Fibonacci retracement 61.8% at the level of $1,192.00 (on the test). If the price breaks the level of $1,192.00 in a high volume, we may see the level of $1,178.00 (demand zone) on test.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,208.70

R2: 1,210.00

R3: 1,212.25

Support levels:

S1: 1,204.00

S2: 1,203.00

S3: 1,200.00

Trading recommendations: Be careful when buying gold below the price of $1,225.00 and watch for selling opportunities after retracement.

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USD/CAD should test key resistance Market Analysis Review

After the downtrend, USD/CAD formed a triple bottom near 1.1940 with a low of 1.1918 tested on May 14. While forming the triple bottom, the pair was ranging between 1.1940 and 1.2140. The price broke out of the range sending pair higher on May 19.

This did put the beginning of further extension up resulted in a breakout of the descending channel. Applying Fibonacci to the breakout point, we can see that 38.2% level (1.2345) has been taken out and could act as a support. This could confirm that the uptrend is not over yet.

For more risky trade consider buying at the current rate, although to stay on a safer side perhaps it is better to wait for a pullback before going long. The target is very clear and it is pointing up to the R1 (1.2444) resistance level that previously acted as very strong support. Only a break below S2 (1.2263) might drop the price further to S3 (1.2181), however the R1 should be tested with a high probability, maybe not as soon as it appears.

Support: 1.2345, 1.2263, 1.2181

Resistance: 1.2444, 1.2608

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

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

As mentioned before, 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.

Last week, the market has already pushed above the weekly supply at 1.5530 (50% Fibo level) and further above 1.5720 (FE 100%). However, evident bearish pressure was applied around 1.5800, resulting in the depicted bearish engulfing weekly candlestick.

Note that persistence below the weekly supply at 1.5530 (corresponding to 50% Fibo level) hinders the ongoing bullish trend for sometime.

Sideways movement with a slight bearish tendency had been expressed on the daily chart until the bullish breakout took place above 1.4970-1.5000 (via a long-term bullish reversal pattern).

The price zone between 1.5000 and 1.5050 (daily 38.2% and 50% Fibonacci levels) failed to hold. Moreover, it constitutes a prominent demand level for the GBP/USD pair now.

It offered a valid buy entry for retesting that took place last week.

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

Evident bearish pressure was applied around 1.5720 (100% FE and the upper limit of the depicted bullish channel). So, a bearish pullback took place towards 1.5500 on Tuesday.

Bearish breakout off the depicted bullish channel took place on Friday as a result of the evident bearish pressure that emerged at the level of 1.5660.

Persistence below 1.5530 (lower limit of the broken channel) is needed to pursue towards lower levels.

Initial bearish targets would be located at 1.5250 and possibly 1.5100 if enough bearish momentum is expressed.

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Intraday technical levels and trading recommendations for EUR/USD for May 26, 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, the 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 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.

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

Meanwhile, a further bearish decline can be hindered for a few weeks.

On the other hand, a bullish corrective movement towards 1.1500 and 1.1600 is still probable especially if intraday demand zone (1.1150-1.1100) remains defended by bulls.

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).

A bullish continuation pattern with an ascending bottom was established around the level of 1.0650.

That is why, bears failed to hinder the ongoing bullish momentum around the key zone of 1.1150-1.1050 on April 29. Temporal bullish fixation above 1.1100 took place shortly after.

Further bullish advancement was enhanced by the multiple daily closures above the levels of 1.1150 and 1.1250 until bearish pressure was applied around 1.1450 (just below the depicted supply level of 1.1500).

This week, bearish pullback is taking place towards 1.0800 -1.0830 where a valid buy entry can be offered.

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

Overview:

In the H1 chart, the weekly pivot point of the EUR/USD pair is at the level of 1.1154. At the same time frame, the level of 1.0861 is representing the weekly support 1. The market is still calling for downward movement because the price has set below the weekly pivot point at 1.1154 since yesterday. If the trend fails to close above the level of 1.1154, it will be a good opportunity to sell below his area with the first target at 1.0861 in order to test the weekly support 1. However, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. Thus, the best location to set your stop loss is seen above the level of 1.1173.

Notes:

It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is significant news to influence, the price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3. According to the previous events, the GBP/USD pair is going to move between 1.1154 and 1.0861.
The resistance will be set at the level of 1.1154 and the support has already been placed at the price of 1.0861.
We expect a new range about 348 pips this week.
The key level will set at the level of 1.1000 (psychological level).

The weekly technical analysis of EUR/USD pair:

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

The weekly technical analysis of GBP/USD pair:

Overview:

According to the previous events, the major support of GBP/USD pair is seen at the level of 1.5377. Moreover, the price hit the weekly pivot point and the support 1 last week. The level of 1.5445 is representing a daily pivot point on May 26, 2015. So, we expect a new range of 68 pips today. Therefore, the EUR/USD pair is going to move between 1.5377 and 1.5445. As a result, sell below the level of 1.5445 in the short term with the first target at 1.5410. If the trend is able to break a new double bottom at 1.5410,the pair might resume to 1.5377.

Observations:

If the trend is upward, GBP is likely to be in an uptrend and USD is seen in a downtrend.
Major support is seen at the level of 1.5480.
Major resistance is seen at the level of 1.5377.
We expect a new range up to 68 pips today.
Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account. Fibonacci is in a range trade; it looks like the trend is trapped and going up or down. If you sell or buy in the long term in this period, you will surely lose your profit.
Stop loss should never exceed your maximum exposure amounts.
As a rule, the market is highly volatile if the last day had huge volatility.

AUD/CHF intraday downside potential Market Analysis Review

AUD/CHF has been moving sideways for over a week now. Taking the Fibonacci applied to the 07.05 low and 14.05 high, after breaking 23.6% support the pair rushed down to test 50% retracement level. The following move was a comeback to test the previous 23.6% level, which became resistance. The resistance has been established near 0.74 and support is seen at 0.735.

Today, the pair has tested the resistance zone once again. It has been rejected again. The Demarker oscillator is signaling on a potential overbought area. At the same time, it is moving within the descending channel that could be a confirmation of the continuation of range trading. If that's the case, AUD/CHF could start falling to test one of the resistance areas, either 50% or 61.8%.

Consider selling AUD/CHF at the current level with a very tight stop loss, just above the most recent high (0.7421). A target could be at the area between S2 and S3, but it appears that the area of 0.7320 plays the key role and could be used as take profit.

Support: 0.7375, 0.7344, 0.7321, 0.7311

Resistance: 0.7414, 0.7478

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

Technical outlook and chart setups:

Silver is trading around the level of $16.80. It is expected to find support around $16.60/70, which is also the fibonacci 0.618 support of the rally $16.10 and $17.80. Please note that an intermediary support trendline is passing through the same region. It is hence recommended to remain long for now and add further long positions with risk at $16.20. Immediate support is seen at $16.60/70 (interim) followed by $16.20/00, $15.80, $15.30, and lower. Resistance is seen at $17.30 (interim) followed by $17.80, $18.40/50, and higher respectively.

Trading recommendations:

Remain long, stop at $16.20, a target is open.

Good luck!

Remain

Technical analysis of Gold for May 26, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is trading around $1,195.00/96.00 at the moment. It is looking for an opportunity to test the level of $1,193.00 soon, which is fibonacci 0.618 support of a rally between $1,168.00 and $1,231.00 as depicted here. Please note that a short-term support trendline is also offering the required support and bounce to the metal. It is recommended to hold long positions for now and add fresh around the current levels with risk at $1,180.00. Immediate support is seen at $1,193.00 (fibonacci) followed by $1,180, $1,170.00, and lower while resistance is seen at $1,215.00 followed by $1,231.00, $1,235.00/40.00, and higher respectively.

Trading recommendations:

Remain long for now and also add further, stop at $1,180.00, a target is open.

Good luck!

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

The US Dollar Index continues its rally higher as expected after the reversal on May 19. The US Dollar Index gave a buy/reversal signal when it broke above the downward sloping wedge. I have been calling for this reversal as the index approached very close to the support of the 38% Fibonacci retracement on a weekly basis.

The US Dollar Index is approaching the 61.8% retracement of a decline from 100. Strong resistance is found at this Fibonacci retracement and I will not be surprised to see a pause of the rise. Important support is at 94.80. The Ichimoku cloud remains below the current price confirming that trend is bullish.

Red line = resistance

The US Dollar Index has also reached the Ichimoku cloud resistance on the daily chart. The red line resistance was broken and the price is testing the lower cloud boundary now. If bulls manage to push the price into the cloud, this will be an important step into changing the Ichimoku trend to neutral on the daily chart. My view remains bullish in the longer term.

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

Technical outlook and chart setups:

The EUR/JPY pair is trading around 133.50/60 after printing lows at 133.10 during the day. The pair seems to be ready to get higher from the current levels and is producing an engulfing bullish candlestick signal on the H4 chart view. It is hence recommended to remain long from yesterday with risk below 133.00. Bulls seem to be poised to stage a rally until prices stay above 132.80/133.00. Immediate support is seen at 133.00 (interim), followed by 131.50, 129.00, 128.00, and lower while resistance is seen at 135.50 followed by 136.50, 137.00 and higher respectively.

Trading recommendations:

Remain long, stop at 132.80, a target is open.

Good luck!

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