06/21/15 ~ Best and Easy Analyst News

Sunday 21 June 2015

Daily analysis of USDX for June 22, 2015 Market Analysis Review

On the daily chart, tho USDX is currently finding a bottom around the level of 93.75. This zone will be the key one for the trend's development during this week, because the Index is trying to ride the overall bullish bias again, as it's currently trading above the 200 SMA on this time frame. Also, there is no signs of immediate downside acceleration yet.

The current intraday structure is still showing a very bearish trend, because the USDX is trading below the 200 SMA on the H1 chart and the MACD indicator is still at the negative territory. During the last session, the USDX found strong resistance around the level of 94.33. If the USDX does a breakout at 93.88, it would be expected to fall until the zone around 93.53.

Daily chart's resistance levels: 94.66 / 95.74

Daily chart's support levels: 93.75 / 93.14

H1 chart's resistance levels: 94.33 / 94.63

H1 chart's support levels: 93.88 / 93.53

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US Dollar Index breaks with a bearish candlestick; the support level is at 93.88, take profit is at 93.53, and stop loss is at 94.24.

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

For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of USDX for June 22, 2015 . Thanks for your support.

Daily analysis of GBP/USD for June 22, 2015 Market Analysis Review

GBP/USD is still finding strong resistance around the level of 1.5898 in the daily chart, where we expect a higher high pattern formation in order to do rallies towards the next high at the level of 1.6036.

On the H1 chart, GBP/USD is still trading sideways, but the bullish bias remains intact. Also, be aware of the support level of 1.5841, because it's currently bringing strong bottom to the current price action of this pair. The 200 SMA in the current time frame is still bullish and the MACD indicator is turning to negative territory.

Daily chart's resistance levels: 1.5898 / 1.6036

Daily chart's support levels: 1.5755 / 1.5543

H1 chart's resistance levels: 1.5884 / 1.5927

H1 chart's support levels: 1.5841 / 1.5789

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 1.5884, take profit is at 1.5927, and stop loss is at 1.5841.

Daily analysis of major pairs for June 22, 2015 Market Analysis Review

EUR/USD: This pair remains in a bullish trend for the bulls were able to keep the price upwards in spite of the bears' efforts to push it down. Possible targets are seen at the resistance lines of 1.1450 and 1.1500 for this week. Support lines are seen at 1.1250 and 1.1200.

USD/CHF: This is a bearish market. The selling pressure which we observed last week enabled the recalcitrant resistance level at 0.9250 to be breached to the downside (including another resistance level at 0.9200). The support level at 0.9150 has also been tested and it could be tested again. It could even be breached to the downside. As long as the price is unable to go above the resistance level of 0.9350, the bearish outlook would remain intact.

GBP/USD: The GBP/USD pair moved upwards nicely last week – a movement of 350 pips. Since June 8, 2015, the price has moved upwards by 650 pips. The distribution territory at 1.5900 is being threatened now and it could be slashed to the upside, as bulls target at another distribution territory at 1.5950. However, the pair could reverse massively before the end of this week or this month.

USD/JPY: Following some protracted consolidation that first happened last week, there was a false bullish breakout in the market, which happened briefly before the bears pushed down the price. There may be further downward movemenst this week.

EUR/JPY: Although the outlook is bullish here, the price condition is not stable. This week would determine whether the price would continue going upwards or whether it would go downwards: depending largely on whatever happens to EUR.