GBP/USD intraday technical levels and trading recommendations for August 19, 2015 Market Analysis Review

Overview:

On April 9, the bearish trend was resumed towards the level of 1.4550 where a lower daily bottom was reached. This is where the ongoing bullish swing was initiated.

A daily closure above 1.5060 exposed the next resistance levels at 1.5400 and 1.5450 where a temporary bearish pullback took place on April 29.

The next bullish swing extended up to the levels of 1.5750-1.5800, which offered traders few valid sell entries (depicted with red arrows). The final bearish target at 1.5450 was already reached.

Recently, strong bullish pressure was applied against the resistance levels around 1.5800 via the ongoing bullish swing.

That is why, the resistance level at 1.5800 was temporarily breached. Hence, GBP/USD bulls pursued towards 100% Fibonacci Expansion located around 1.5900 where the depicted Head and Shoulders pattern was initiated.

The level of 1.5555 (prominent demand level/depicted uptrend line) got breached earlier last month due to excessive bearish pressure. This enhanced the bearish side of the market towards 1.5360.

However, a bullish pullback towards 1.5550-1.5600 was expected to take place shortly after, as suggested in the previous articles.

Our SELL entry which was suggested around 1.5600 got triggered two weeks ago. An early exit should be considered after the current daily candlesticks managed to fixate above 1.5600.

A better SELL entry with a lower risk/reward ratio may be offered around the price level of 1.5780 (the upper limit of the consolidation range) if enough bullish pressure is expressed above 1.5660 (yesterday's daily closure level).

Note that fixation below the price zone of 1.5550-1.5500 is mandatory to pursue towards lower bearish targets, initially at 1.5450. Moreover, it confirms the Double-Top reversal pattern.

Risky traders can SELL the GBP/USD pair upon daily closure below 1.5525. Initial bearish target would be located at 1.5450.

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USD/CAD intraday technical levels and trading recommendations for August 19, 2015 Market Analysis Review

Overview:

When bulls pushed the price further above 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 a formation of successive lower highs (within the depicted consolidation zone) enhancing the bearish side of the market.

Daily fixation below 1.2300 opened a way towards the levels of 1.2000 and 1.1940 (the depicted weekly uptrend).

Bullish support was found around these levels. Successive higher lows were reached. Bullish pressure was applied against the resistance levels of 1.2450 and 1.2500 (previous tops).

On the other hand, the previous weekly candlestick was quite bullish. That is why, an extensive bullish movement is seen on the chart.

A bullish breakout above the zone of 1.2770-1.2800 has been executed.

The long-term bullish projection target remains projected at the level of 1.3270 (100% Fibonacci Expansion) where bearish pressure should be applied.

Recently, signs of lack of bullish momentum were generated on the chart (Head and Shoulders reversal pattern).

A bearish corrective movement towards the levels of 1.2750 (Breakout Level) should be expected as long as USD/CAD bears keep defending the recent high around the price level of 1.3180 (being approached today).

On the other hand, bearish persistence below 1.3050 is needed to expose the next support level around 1.2910 and then 1.2800 where long-term BUY entries should be considered.

Trading recommendations:

Conservative traders can wait for a bearish pullback towards the recent breakout zone (1.2800-1.2750) for a valid buy entry as the breakout level constitutes a strong support.

Stop Loss should be located below the level of 1.2700. T/P levels should be located at 1.2850 and 1.2900.

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Intraday technical levels and trading recommendations for EUR/USD for August 19, 2015 Market Analysis Review

The market was pushed lower after breaking below major demand levels around 1.2100 and 1.2000 where historical bottoms were previously hit back in July 2012 and June 2010.

EUR/USD bears have already pushed the price slightly below the monthly demand level at 1.0550 (established on January 1997). Bullish recovery was expressed shortly after.

April's monthly candlestick came as a bullish engulfing one. However, the next monthly candlesticks (May, June, and July) reflect recent bearish rejection being expressed around 1.1450.

In the long term, a projection target will be still located at 0.9450 if a bearish breakdown of the monthly demand level at 1.0550 occurs soon.

A bullish corrective movement towards 1.1500 will be possible only if May's monthly high of 1.1465 gets breached (a low probability).

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

Multiple ascending bottoms were established around the levels of 1.0470, 1.0550, and 1.0850. These levels corresponded to the daily uptrend depicted on the chart.

Further bullish pressure was observed until bearish rejection was applied around 1.1400 (long-term double-top reversal pattern).

A daily closure below the level of 1.1150 brought EUR/USD back to 1.1000 again. Bearish daily closure below 1.0950 enabled a quick bearish decline towards 1.0850 and 1.0750.

Evident bullish recovery was expressed last week after hitting the level of 1.0800. Since then, bulls have been trying to bring a bullish corrective movement towards 1.1000 and 1.1150 where the backside of the broken uptrend is located.

Bearish rejection was anticipated around the price zone of 1.1150-1.1180 as it corresponds to the backside of the broken uptrend (depicted on the chart).

On Friday, significant bearish reaction has been shown at 1.1150 resulting in two consecutive bearish engulfing daily candlesticks.

The nearest bearish destination to meet the EUR/USD pair would be located at 1.0980 as long as the price level of 1.1150 remains defended by the market bears.

DAILY closure below the price level of 1.0980 should be pursued towards lower bearish targets around 1.0850 and 1.0750.

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Intraday technical levels and trading recommendations for GBP/USD for August 19, 2015 Market Analysis Review

Few months ago, the market was pushed above the weekly key zone around 1.5550 in an attempt to reach the area around 1.5900, which provided evident supply for the GBP/USD pair.

As anticipated, a bearish pullback towards the level of 1.5550 took place. A bearish breakout below 1.5500 took place two weeks ago.

Last week, strong bearish pressure was applied to the level of 1.5550 again. It was beeing broken temporarily until the last week when bullish recovery was expressed.

Contradictory signals are coming from consecutive weekly candlesticks. This indicates lacking bullish momentum above 1.5500.

The previous weekly candlestick closure above 1.5500 hinders further bearish decline and enhances the bullish side of the market towards 1.5680 (previous weekly high).

Next bullish destination would be located at 1.5770 (61.8% Fibonacci level).

On the other hand, the current weekly candlestick should be monitored by the end of the week to determine if the weekly closure comes above 1.5500 or below.

The nearest demand level around 1.5200 will become exposed only if the GBP/USD bears manage to bring the market price below the level of 1.5500 again.

Previously, the zone of 1.5800-1.5880 acted as significant supply. It offered a valid sell entry few weeks ago. All T/P levels were successfully reached.

On the other hand, the level of 1.5550, which corresponds to 50% Fibonacci level and a previous prominent top, was temporarily broken allowing further bearish decline towards 1.5350 where an ascending bottom was recently established.

The level of 1.5500 constitutes a significant KEY-level to watch for. It corresponds to the short-term uptrend line depicted on the chart.

However, evident bullish pressure was applied at 1.5450 on August 7. A bullish engulfing daily candlestick was expressed by the end of the day.

The nearest supply levels to meet the GBP/USD pair are located around the price levels of 1.5660 (Multiple Daily Highs) and 1.5770 (prominent 61.8% Fibonacci level) where the price reaction should be monitored.

On the other hand, the bearish scenario towards 1.5470 and 1.5370 should only be considered if the GBP/USD bears manage to successfully push below 1.5500 again.

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Daily analysis of SILVER for August 19, 2015 Market Analysis Review

Overview

According to the attached H4 chart, Silver price broke the 15.00 level and closed the daily candlestick below it as the price completed forming a minor head and shoulders' pattern that appears on chart. It stops the recently suggested positive scenario and push the price to decline to test the 14.40 level mainly.

Therefore, the bearish bias will be suggested for the upcoming period as long as the price is below the 15.00 level supported by the EMA50, being aware that it is important to monitor the price behavior when reaching the 14.40 level as breaking it will extend silver price losses to reach 12.80 on the near-term basis.

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Daily analysis of GBP/JPY for August 19, 2015 Market Analysis Review

Overview

According to the shown H4 chart, intraday bias in GBP/JPY remains neutral for the moment. A rebound from 184.95 might extend. But we'd expect strong resistance from 195.86 to limit upside and bring a reversal. At this point, we're holding on to the view that consolidation pattern from 195.86 is not completed yet. A break of 190.99 will start the third leg of the consolidation and will target the 184.95 support.

Daily Pivots: (S1) 193.79; (P) 194.53; (R1) 195.54;

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EUR/NZD analysis for August 19, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving downwards. As we expected, the price tested the level of 1.6855 in a high volume. In the daily time frame, we can observe a supply bar in a volume below the average. According to the H4 chart, we have an absorption volume in the background (short-term buying looks very risky). We may expect continuation of downward movement if the price breaks strong support at the level of 1.6800. According to Wyckoff analysis, the price is building a potential strong distribution (selling). Intraday frames are favoring sellers as well.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6815

R2: 1.6850

R3: 1.6915

Support levels:

S1: 1.6690

S2: 1.6650

S3: 1.6590

Trading recommendations: Watch only for selling opportunities if the price breaks the level of 1.6800 in a high volume.

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Gold analysis for August 19 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading upwards. According to the daily time frame, we can observe a neutral bar (doji) in a volume below the average. According to the 30M time frame, we can observe a volume spike (buying climax) with a wide-range bar at the price of $1,121.00, which is a sign that buying gold at this stage looks risky. According to Wyckoff analysis, we have strong accumulation and bottoming on gold, so watch only for buying opportunities on the dips (after bearish corrections). Anyway, to confirm further bullish movement, the price needs to break the level of $1,122.70 in a high volume. Intraday looks very risky for buying but the short term got a large sign of strength in the background.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,119.80

R2: 1,122.60

R3: 1,127.17

Support levels:

S1: 1,110.75

S2: 1,107.00

S3: 1,103.00

Trading recommendations: Be careful when buying gold at this stage. Intraday selling opportunities are preferable.

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Technical analysis of USD/CAD for August 19, 2015 Market Analysis Review

Overview:

• The trend of the USD/CAD pair is going to turn to bullish sentiment from the level of 1.2976. Additionally, the price of 1.2976 is coinciding with the double bottom and the ratio of 78.6% Fibonacci retracement levels on the four-hour chart. Accordingly, it will be a good sign to buy above 1.2976 with the first target of 1.3130 to test a minor resistance at this price and it should be noted that the price of 1.3130 is representing the weekly pivot point. Besides, it will call for an uptrend in order to continue its bullish movement towards 1.3207 (double bottom). Equally important, the resistance will be set at the 1.3207 level. So, it will be very useful to take profit at this spot. At the same time, the stop loss should be placed below the double bottom at the price of 1.2643. On the other hand, as it is known, sellers are asking for a higher price as well as buyers are bidding at a lower price. Therefore, the first key level will be at the level of 1.3207; and the second key level, at the 1.3130 level for August 19, 2015. Moreover, the level of 1.3207 is representing the resistance and the 1.2976 level is going to act as the support. Additionally, the price of the USD/CAD pair has been still moving between 1.3207 and 1.2976.

Observations:

• The range today will be about 231 pips (1.3207 and 1.2976) this week. Another thought: the stop loss has been set in 77 pips. Consequently, the risk of 77 pips should make a profit of 231 pips.
• The trend was very clear and indicating an uptrend, but on the H1 chart, the trend will call in bearish market from the double top at 1.3207 in the short term.

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Technical analysis of AUD/USD for August 19, 2015 Market Analysis Review

Short overview:

• The AUD/USD pair is still moving between the levels of 0.7459 and 0.5215. So the weekly pivot point will be set at the level of 0.7364. Moreover, the weekly point has already formed a minor resistance at this area because the strong resistance has already been set at 0.7459. Therefore, sell at the level of 0.7459/0.7364 with the first target at the 0.7292 price, then it will call for a downtrend in order to continue its bullish movement towards 0.7215 in order to represent the double top. Nevertheless, the stop loss should be placed at the level of 1.6550. If the trend fails to close above the level of 0.7459, it will be a good sign to buy at this level in the short term with targets at 0.7495. Then it is going to continue towards the 0.7534 price.

Outlook in the long term:

• On the H4 and daily charts, we expect that the trend is going to call for the bearish market at the level of 0.7534 and 0.7459 (the monthly pivot point). As a result, sell at the price of 0.7534/.7459 with the first target of 0.7215, it might resume to 0.7160 with a view to form a new double bottom. On the other hand, your stop loss should be placed above the 0.7534 level, hence it will be good to set it at the price of 0.7568 this week.

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Technical analysis of EUR/NZD for August 19, 2015 Market Analysis Review

EUR/NZD correction down

After forming a double top near 1.71, EUR/NZD formed a bearish divergence on the DeMarker oscillator signaling the potential correction or reversal to the downside. Although, the price rejected 200 Moving Average multiple times, it could be on its way to test it once again.

It seems that previous resistance R1 (1.6786) is still valid since it's being rejected today once again. Overall, it is likely that price will consolidate between already established support and resistance levels R1 and S1 - that is also Fibonacci resistance level applied to the last wave up (13.08 low and 14.08 high).

Consider selling EUR/NZD on any minor pullbacks while it is trading near R1, targeting S1 (1.6600-1.6550 area). Since it is a counter-trend trade, a tight stop loss should be used just above R1 high - 1.6815.

Support: 1.6593

Resistance: 1.6786

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Global macro overview for 19/08/2015 Market Analysis Review

Global macro overview for 19/08/2015:

The most important event of the day will be CPI inflation figures release at 12:20 pm GMT and the FOMC meeting minutes release at 6:00 pm GMT. The Consumer Price Index for the month of July is expected to decrease slightly to 0.2% m/m on a monthly basis, but it should increase to 0.2% on year-to-year basis. Any better than expected inflation data today might start another wave of September rate hike speculations as the recent Fed meeting was not followed by a press conference and the statement was rather terse. However, Fed chairwoman Janet Yellen has quite often hinted at the possible rate hike this year as it would enable the US economy to gradually and smoothly return to the path of interest rates normalization without risking any economic turbulence from raising the rates sharply to pre-2008 levels. Nevertheless, please notice that the Fed members' point of view about rising the interest rates might be somewhat outdated now as new economic events took place since the last meeting. The most important would be the yuan depreciation in China and the following risk of creating the yuan a more free-market depended and regulated currency by the People's Bank of China.

The technical situation on the EUR/USD pair is rather stable as the market awaits the Fed minutes release. The immediate support comes at the level of 1.1000 and resistance at the level of 1.1129.

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Technical analysis of GBP/USDfor August 19, 2015 Market Analysis Review

Since July 15, GBP/USD has been consolidating in the 200-pip range 1.5460 to 1.5660. While the price was moving sideways, the RSI oscillator has been moving upwards within the ascending channel signaling on a potential uptrend continuation.

On August 7, the pair formed a double bottom near 1.5660 and at the same time rejected ascending channel slightly. The longer-term uptrend has also been rejected, but the shorter-term downtrend trendline has been broken. Finally, yesterday, GBP/USD managed to make a new higher high that could bring in more buyers.

Consider buying GBP/USD this week on any minor pullbacks while the price is below R1 (1.5688). The target area is between the previously formed top on the 18.06 (1.5930) and 161.8% retracement level of the Fibonacci applied to the last corrective wave down (29.07 high and 07.08 low). A tight stop loss at the S1 low (1.5561) should be used.

Support: 1.5587

Resistance: 1.5688, 1.5851, 1.5930

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Global macro overview for 19/08/2015 Market Analysis Review

Global macro overview for 19/08/2015:

The sterling rallied yesterday after inflation data beat expectations. Moreover, the market now might anticipate a more probable BoE interest rate hike in the coming months. The core inflation peaked at a five-moth high, while the consumer inflation rose 0,1% instead of staying flat at 0%. In his latest economic outlook, BoE governor Mark Carney stated that the inflation will remain low or flat until the end of the year as the British pound speculations could persist a little longer. Nevertheless, leaving the rates at a low level in order to wait for the BoE 2% inflation target would not be healthy for the UK economic recovery in the long term, so the BoE might wait for the US Fed to raise the rates first and then follow up.

The technical picture of GBP/USD is getting more clear now as the demand break-through zone has been finally violated. If the bullish sentiment persists, this pair should soon test the next resistance at the level of 1.5790.

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Technical analysis of EUR/JPY for August 19, 2015 Market Analysis Review

General overview for 19/08/2015 09:50 CET

This pair is currently trading at the edge of the bullish zone. It is about to enter the neutral/corrective zone if the intraday support at the level of 137.06 is violated again. The current count might then evolve to WXYXXZ brown alternative count, typical for more complex and time-consuming corrections. For now, the golden trend line is generating the dynamic resistance and the market is trading inside the golden channel.

Support/Resistance:

136.72 - WS1

137.06 - Intraday Support

137.57 - Intraday Resistance

137.78 - Weekly Pivot

Trading recommendations:

Daytraders should consider opening sell orders from current price levels with SL above the level of 137.69 and TP at the level of 136.80.

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Technical analysis of USD/CAD for August 19, 2015 Market Analysis Review

General overview for 19/08/2015 09:30 CET

The three sub-wave corrective cycles to the downside are almost completed as wave c purple is about to hit support at the level of 1.3015. Nevertheless, the overall corrective cycle has not been completed yet as we are expecting another push lower, just below the last wave W brown at the level of 1.2951. The market is still trading inside the neutral/range zone between the levels of 1.2858 - 1.3211. Only a clear impulsive breakout above/below one of this levels would change the current scenario.

Support/Resistance:

1.3058 - Intraday Resistance

1.3079 - Weekly Pivot

1.3015 - Intraday Support

1.2975 - WS1

Trading recommendations:

Yesterday's sell zone level has not been hit ( high was 1.3124), but the general direction was correct. Currently, daytraders should wait for a better opportunity to occur after corrective sub-cycle is completed.

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USDX technical analysis for August 19, 2015 Market Analysis Review

The Dollar index got rejected at the Ichimoku cloud resistance as expected. Price has turned lower towards the kijun-sen support and we have a short-term reversal signal. The back test of the break down is complete and I believe we should start a new downward move towards 95 at least.

As can be seen in the 4-hour chart above,the Dollar index has reached the 97.15 resistance area by the Ichimoku cloud and got rejected. This is

a bearish signal. Resistance is at 97.15. Support is at the kijun-sen (yellow indicator) at 96.55.

Red line - resistance

Green line - support

The weekly chart continues to show price trapped inside the triangle. If we look closer, price is now also trapped between the kijun- and tenkan-sen indicators. I believe price will eventually push towards the lower triangle boundary at the green trend line support. A break above the triangle will be a buy signal for me with new highs as target.

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Gold technical analysis for August 19, 2015 Market Analysis Review

Gold price has reached the 38% Fibonacci retracement and found support. Price is now giving some short-term bullish signals targeting new short-term highs above $1,130. Important short-term support is at $1,116. If broken, we could see a new lower low below $1,110 towards $1,100.

Red line - resistance

Gold price touched the 38% retracement, held above the Ichimoku cloud in the 4-hour chart as shown above and is now breaking above the red downward sloping trend line. Next resistance is the previous highs at $1,127. Support is at $1,116. If broken, we should expect Gold to test the 61.8% retracement.

Blue area - resistance

Gold weekly chart remains longer-term bearish as price remains below the Ichimoku cloud but price is bouncing as I have been expecting for the last two weeks. Bounce target is the tenkan-sen and next at the kijun-sen. In general, I would expect price to find resistance on the blue area.

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Daily analysis of major pairs for August 19, 2015 Market Analysis Review

EUR/USD: The EUR/USD pair did not move very much yesterday. The little movement that was seen was towards the downside in the context of an uptrend. For the current bullish outlook to become illogical, the support lines at 1.1000 and 1.0950 must be broken to the downside: otherwise the price could make some renewed bullish attempts.

USD/CHF: This pair continues to move sideways while the overall outlook is bullish. What can invalidate the bullish outlook is an event in which the price closes below the support level at 0.9650. But in case it does not happen, this week can see some considerable bullish attempts, especially if the USD tries to amass lots of stamina. Right now the market is flat.

GBP/USD: At last, the GBP/USD pair has succeeded in going above the defiant accumulation territory at 1.5650. The price was able to close above that accumulation territory, trying to go towards the distribution territory at 1.5700, which has been tested but yet to be breached to the upside.

USD/JPY: There is no dominant trend in the market, but it is expected that the price would either go above the supply level at 125.50 or below the demand level at 123.50 when a breakout occurs (following the current sideways movement). Should this happen, that would mean a strong bullish or bearish outlook.

EUR/JPY: This cross has continued its weakness, but the Bullish Confirmation Pattern is not totally invalid. It would be OK to stay away from this market - the EMA 11 is not below the EMA 56 and the RSI period 14 is not below the level 50. There are mixed signals.

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Elliott wave analysis of EUR/NZD for August 19 - 2015 Market Analysis Review

Technical summary:

We can consider a nice five-wave rally complete at the 1.7103 high. Therefore, we will be looking for a correction towards wave four of one or two to some degree. The first wave four of a smaller degree is found at 1.6337, which also marks the 23.6% corrective target, while the wave low of two smaller degrees is found at 1.6035 just above the 38.2% corrective target at 1.5864.

In the short term, we will be looking for minor resistance near 1.6877 and again at 1.6931, which we expect will protect the upside for the next decline towards the first corrective target at 1.6337.

Trading recommendation:

We will sell EUR at 1.6920 with a stop placed at 1.7110, but expect to be able to move the stop lower quickly.

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Elliott wave analysis of EUR/JPY for August 19 - 2015 Market Analysis Review

Technical summary:

Red wave iv found support right at the inverse S/H/S neckline, but should stay above important support at 136.49 (the top of red wave i) for the next impulsive rally higher to 139.41 as the ideal target for red wave v and wave iii.

In the short term, we will be looking for a break above minor resistance at 137.90 as the first strong indication that red wave v is unfolding for a rally towards 139.46.

Trading recommendation:

We bought EUR at 137.45 with stop placed at 136.45. If you are not long EUR yet, then buy a during break above 137.39 with the same stop at 136.45.

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Technical analysis of USD/JPY for August 19, 2015 Market Analysis Review

USD/JPY is expected to trade with a bearish bias. With the U.S. dollar index currently trading at 96.962, the U.S. dollar held firm overnight thanks to solid U.S. housing data while U.S. stocks edged lower. The U.S. government reported that housing starts increased 0.2% on-month in July to a seasonally adjusted annual rate of 1.21 million, the highest level since October 2007. Meanwhile, the Dow Jones Industrial Average fell 0.2% to 17511.34, the S&P 500 lost 0.3% to 2096.92, and the Nasdaq Composite dropped 0.6% to 5059.35. Crude oil bounced 1.8% to $42.62 a barrel, gold slid 0.1% to $1,117.10 an ounce, while the 10-year Treasury yield climbed to 2.196% from 2.150% a day earlier. Regarding USD/JPY, the pair has narrowed its trading range to between the key resistance at 124.60 and the first downside target at 124.15. It is overlapping with the 20- and 50-period intraday moving averages. At the same time, the intraday RSI is around the neutrality level of 50 and lacking momentum. As long as the key resistance at 124.60 is not surpassed, expect choppy price action with a bearish bias. The second downside target is now set at 124.00 (the low of August 14).

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 124. A break of that target will move the pair further downwards to 123.75. The pivot point stands at 124.60. 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 125 and the second target at 125.25.

Resistance levels: 125 125.25 125.60

Support levels: 124 123.75 123.50

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Technical analysis of USD/CHF for August 19, 2015 Market Analysis Review

USD/CHF is expected to trade with a bearish bias below 0.9800. The pair remains under pressure below the key resistance at 0.9800. Meanwhile, the intraday RSI indicator is lacking upward momentum. In this outlook, as long as 0.9800 is not surpassed, the risk of the break below the first downside target at 0.9715 remains high. The second downside target is set at 0.9660 (August 12's low).

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 0.9715. A break of that target will move the pair further downwards to 0.9660. The pivot point stands at 0.98. 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 0.9860 and the second target at 0.9940.

Resistance levels: 0.9860 0.9940 0.9995

Support levels: 0.9715 0.9660 0.9635

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Technical analysis of NZD/USD for August 19, 2015 Market Analysis Review

NZD/USD is expected to trade with a bullish bias above 0.6555. The pair remains supported by an intraday rising trend line and is likely to post a new rebound to challenge 0.6605 in sight. The intraday RSI is mixed to bullish, while the 20- and 50-period MAs is still in an uptrend. Meanwhile, a strong support base around 0.6555 has formed, which should prevent any downside risk. Therefore, as long as 0.6555 is not broken, upside targets are set at 0.6605 and 0.6625.

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 0.6605 and the second target at 0.6630. In the alternative scenario, short positions are recommended with the first target at 0.6530 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 0.6510. The pivot point is at 0.6540.

Resistance levels: 0.6605 0.6630 0.6675

Support levels: 0.6530 0.6510 0.6480

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Technical analysis of GBP/JPY for August 19, 2015 Market Analysis Review

GBP/JPY is expected to trade in a higher range. The pair is capped by its 20-period intraday MA and is looking for a higher target. The descending 50-period intraday MA also maintains a bearish bias. And the intraday RSI stays below 50 and is negatively oriented. The first target to the upside is therefore set at the horizontal resistance and overlap at 195.30. A break below this level would open the way to further weakness towards 195.30 in extension. Only a break above the key support at 194.40 would call for a further upward move towards August 17's low at 194.10.

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 195.30 and the second target at 196.05. In the alternative scenario, short positions are recommended with the first target at 194.10 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 193.80. The pivot point is at 194.40.

Resistance levels: 195.30 196.05 196.75

Support levels: 194.10 193.80 193

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Technical analysis of Silver for August 19, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver had dropped lower into $14.70 levels, just below its 50-day moving average, before pulling back higher again. Besides, please note that the drop has stalled at the fibonacci 0.618 support of the rally between $14.40 and $15.60 levels respectively. Furthermore, the backside of the resistance line is being tested for now. It is hence recommended to initiate long positions again with risk at $14.40 levels for now. Immediate support is seen at $14.70 levels (interim), followed by $14.40 and lower, while resistance is seen at $15.60 levels (interim), followed by $15.90, $16.40 and higher respectively.

Trading recommendations:

Initiate long positions, stop at $14.40, a target $16.40.

Good luck!

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Technical analysis of EUR/USD for August 19, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as Current Account report. The US will release the economic data too such as the FOMC Meeting Minutes, Crude Oil Inventories, Core CPI m/m, and CPI m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1002.

Strong Resistance:1.1076.

Original Resistance: 1.1065.

Inner Sell Area: 1.1064.

Target Inner Area: 1.1028.

Inner Buy Area: 1.1002.

Original Support: 1.0991.

Strong Support: 1.0980.

Breakout SELL Level: 1.0974.

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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Technical analysis of USD/JPY for August 19, 2015 Market Analysis Review

In Asia, Japan will release indices of all industries activity m/m and Trade Balance report. The US will also release some important reports such as FOMC Meeting Minutes, Crude Oil Inventories, Core CPI m/m, and CPI m/m. So there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 124.96.

Resistance. 2: 124.72.

Resistance. 1: 124.47.

Support. 1: 124.18.

Support. 2: 123.93.

Support. 3: 123.69.

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 USD/JPY for August 19, 2015 . Thanks for your support.

Technical analysis of Gold for August 19, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold had dropped lower towards its 50-day moving average as seen here, before bouncing back higher again to $1,115.00/17.00 levels. The yellow metal is expected to push higher at least towards $1,130.00/35.00 levels if not higher. It is recommended to initiate long positions with risk at $1,100.00 levels. Immediate support is seen at $1,100.00 levels, followed by $1,090.00, $1,070.00 and lower, while resistance is seen at $1,130.00/35.00 (fibonacci 0.618), followed by $1,167.00, $1,175.00 and higher respectively.

Trading recommendations:

Remain/initiate long positions, stop at $1,100.00, a target is open.

Good luck!

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Technical analysis of EUR/JPY for August 19, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY has dropped to 137.00 levels as expected and is bouncing back higher. Please note that 137.00 level is also past resistance turned support of the earlier cone consolidation. Furthermore, a tweezer bottom candlestick pattern has also appeared on the 4H chart setup here, indicating a potential reversal. It is now recommended to initiate long positions below 136.00 levels. Immediate support is seen at 135.50 levels, followed by 135.00, 134.00, 133.00 and lower, while resistance is seen at 139.40 levels, followed by 140.40 and higher respectively.

Trading recommendations:

Initiate/remain long, stop below 136.00, a target is open.

Good luck!

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Technical analysis of GBP/CHF for August 19, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has tested resistance again at 1.5350 levels before pulling back lower. The pair is trading around the 1.5300/10 levels for now and is expected to drop lower till prices stay below 1.5400/10 levels. It is still recommended to remain short, with risk at 1.5450 levels for now. Immediate support is seen at 1.5150 levels (interim), followed by 1.5050, 1.4950 and lower, while resistance is seen at 1.5350 levels (interim), followed by 1.5410 and higher respectively. A 3-wave corrective drop is expected towards 1.5025/50 levels, before the rally could resume.

Trading recommendations:

Remain short, stop at 1.5450, a target 1.5050.

Good luck!

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Daily analysis of USDX for August 19, 2015 Market Analysis Review

On the daily chart, USDX has been trading in a bullish bias above the support level of 96.57, which is currently developing into a possible rebound towards the resistance zone of 97.57. We're still expecting a breakout over there for a higher continuation, but eventually, the index could pullback until the 96.57 level again.

USDX recovered from losses and now it's trading above the 200 SMA on H1 chart. There a pullback to the support level of 96.37could happen. However, if bulls are still strong during this action, the USDX will rise to the resistance zone of 97.37, where it should perform a breakout towards the 97.72 level.

Daily chart's resistance levels: 96.57 / 97.57

Daily chart's support levels: 95.50 / 94.70

H1 chart's resistance levels: 97.37 / 97.62

H1 chart's support levels: 96.88 / 96.37

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 96.88, take profit is at 96.37, and stop loss is at 97.38.

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Daily analysis of GBP/USD for August 19, 2015 Market Analysis Review

GBP/USD is trying to consolidate above 1.5640 with a mid-term focus towards the 1.5761 level. That's why bulls are still stronger and having a momentum above 200 SMA on the daily chart. However, we should recommend to follow the current bias because there are no signs in the short term for deep pullbacks. MACD indicator is on the positive territory.

On H1 chart, GBP/USD had a rally towards new weekly highs and remains above the 200 SMA. The pair is looking again to break the resistance level of 1.5679 in order to rise until the 1.5715 zone in the short term. After a breakout above it, GBP/USD will look to trade around the pyschological level of 1.5800. MACD indicator is still on the negative territory.

Daily chart's resistance levels: 1.5640 / 1.5761

Daily chart's support levels: 1.5543 / 1.5450

H1 chart's resistance levels: 1.5679 / 1.5715

H1 chart's support levels: 1.5632 / 1.5587

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 1.5679, take profit is at 1.5715, and stop loss is at 1.5644.

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