Daily analysis of Silver for September 09, 2015 Market Analysis Review

Overview

Silver price breached 14.70 level and settled above it, opening the way towards visiting the bearish channel's resistance near 15.15 in the upcoming sessions, noticing that stochastic reaches the thresholds of the overbought levels now, which supports bouncing lower to resuming the overall bearish trend according to the trading rules within the price channels. Therefore, the bearish trend will remain valid on the short-term basis, it might be proceeded by some temporary rise as we mentioned, taking into consideration that breaching 15.15 level will stop the negative scenario and pushes the price to achieve more gains on the intraday and short-term basis.

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Daily analysis of GBP/JPY for September 09, 2015 Market Analysis Review

Overview

Intraday bias in GBP/JPY remains neutral for consolidation above 180.36 temporary low. A further decline is expected as long as 187.36 resistance holds. Below 180.36, key support levelis expected at 174.86. However, a decisive break of 187.36 will turn focus back to 195.26 resistance instead. The break of the medium term trend line support is taken as a sign of a trend reversal. This is supported by bearish divergence condition in weekly MACD. Besides, GBP/JPY was close to key cluster resistance of 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to the 200 psychological level. A break of 174.86 will confirm a trend reversal and bring a deeper fall to 38.2% retracement of 116.83 to 195.86 at 165.67.

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Technical analysis of USD/JPY for September 09, 2015 Market Analysis Review

USD/JPY is expected to trade in a higher range. Overnight US stocks rallied as Chinese and global markets showed signs of stabilization. The Dow Jones Industrial Average rose 2.4% to 16492, its biggest one-day percentage and point gain in almost two weeks, the S&P 500 gained 2.5% to 1969, and the Nasdaq Composite was up 2.7% to 4811. Nymex crude oil edged down 0.2% to settle at $45.94 a barrel, gold was flat at $1120 an ounce, while the 10-year US Treasury yield rose to 2.191% from 2.128% last Friday. Meanwhile the US dollar fell against most other currencies amid a lack of certainty that the US Federal Reserve would hike interest rates in September.. The pair is trading on the upside with strong upward momentum. It has broken above the upper Bollinger band as those bands are widening. The 20- and 50-period intraday moving averages are ascending, and the intraday RSI has exceeded the over-bought level of 70 but shows no signs of a bearish divergence. Therefore, all technical indicators are pointing to a continued bullish bias. The first upside target is set at 121.45 (around the September 3 high) and the second at 121.75 (last seen on September 1).

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 121.45 and the second target at 121.75. In the alternative scenario, short positions are recommended with the first target at 119.60 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 119.20. The pivot point is at 119.95.

Resistance levels: 121.45 121.75 122.35

Support levels: 119.60 119.20 118.90

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Technical analysis of USD/CHF for September 09, 2015 Market Analysis Review

USD/CHF is expected to trade with a bullish bias. The pair is still moving in an uptrend, backed by a bullish 50-period intraday MA. A strong support base around 0.9735 has been formed allowing for stabilisation. Currently, the pair seems more likely to consolidate, as the intraday RSI is turnes down, and is moving into its neutrality area around 50. Nevertheless, as long as 0.9750 (our stop loss) is not broken, the intraday outlook remains positive with targets at 0.98200 and 0.9850.

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 0.9820 and the second target at 0.9850. In the alternative scenario, short positions are recommended with the first target at 0.9735 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 0.970. The pivot point is at 0.9750.

Resistance levels: 0.9820 0.9850 0.99

Support levels: 0.9735 0.97 0.9670

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GBP/USD intraday technical levels and trading recommendations for September 9, 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. That is where the depicted bullish swing was initiated.

The next bullish swing extended up to the levels of 1.5750-1.5800, which offered valid sell entries for risky traders (depicted with red numbers).

Recently, strong bullish pressure was applied at the resistance level of 1.5800 via the recent bullish swing.

That is why, the resistance level of 1.5800 was temporarily breached. Bulls moved towards 1.5900 where the depicted Head and Shoulders pattern was confirmed.

The support level of 1.5555 got breached by the end of the previous month due to excessive bearish pressure which originated at 1.5800.

The nearest support zone to meet the GBP/USD pair was located at 1.5200-1.5170 where a valid Intraday buy entry was offered as suggested in yesterday's article.

On the other hand, another sell entry can be offered near the resistance level of 1.5470 (lower limit of the previous consolidation range) if the current bullish pullback persists above the level of 1.5330.

Please note that persistence below the levels of 1.5450 (lower limit of the broken consolidation range) and 1.5350 (Recent Weekly Bottom) enhances further bearish decline in the near future and vice versa.

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Technical analysis of NZD/USD for September 09, 2015 Market Analysis Review

NZD/USD pair is turning up. The pair formed a "rounding bottom" pattern on an intraday basis confirming a bullish trend reversal. A continuation of the technical rebound is mpre likely to be headed towards 0.6430, as the 20- and 50-period intraday MAs are on the upside, and act as resistance levels. The intraday RSI is well-directed and calls for a new upward move. In these perspectives, as long as 0.6335 is not broken, look for further advance to 0.6430 & 0.6470 in extension.

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 0.6430 and the second target at 0.6470. In the alternative scenario, short positions are recommended with the first target at 0.6310 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 0.6260. The pivot point is at 0.6335.

Resistance levels: 0.6430 0.6470 0.65

Support levels: 0.6310 0.6260 0.6315

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USD/CAD intraday technical levels and trading recommendations for September 9, 2015 Market Analysis Review

Overview:

Few months ago, 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 lower highs (within the depicted consolidation zone) enhancing the bearish side of the market.

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

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

On the other hand, the previous weekly candlestick was rather 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 target was projected towards the level of 1.3270 (100% Fibonacci Expansion) where bearish pressure should be expected. Bulls are revisiting this level today.

Bearish corrective movement towards the level of 1.2750 (Breakout Level) should be expected as long as USD/CAD bears keep defending the Fibonacci Expansion zone around 1.3270 - 1.3300.

Moreover, bearish persistence below 1.3100 (lower limit of the depicted Flag pattern) is needed to expose the next support level around 1.2910 and then 1.2800 where long-term buy entries can be considered.

Trading recommendations:

A counter-trend sell entry can be offered around the level of 1.3330 (Fibonacci Expansion 100%). S/L should be placed above the level of 1.3400.

Conservative traders should wait for a bearish pullback towards the recent breakout zone (1.2800-1.2750) for a valid buy entry as the breakout level constitutes the recent 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 and T/P levels to be placed at 1.3200 and 1.3050.

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Technical analysis of GBP/JPY for September 09, 2015 Market Analysis Review

GBP/JPY is expected to trade in a higher range. The pair is supported by its ascending 20-period intraday MA and remains on the upside. The 50-period intraday MA is moving with a bullish bias and the intraday RSI stands above the neutrality level of 50 (positively oriented). Further upside is expected with the next horizontal resistance and overlap set at the horizontal support and overlap at 187 at first. A break above this level would call for further advance towards a high of 187.50.

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 187 and the second target at 187.50. In the alternative scenario, short positions are recommended with the first target at 183.85 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 183.35. The pivot point is at 184.75.

Resistance levels: 187 187.50 188

Support levels: 183.85 183.35 182.55

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Intraday technical levels and trading recommendations for GBP/USD for September 9, 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 has been providing evident resistance for the GBP/USD pair.

For several weeks, consecutive weekly candlesticks have been generating contradictory signals.

Previous weekly candlestick closure above 1.5500 hindered a further bearish decline for some time and enhanced the bullish side of the market towards 1.5670 (previous weekly high) and 1.5780 (61.8% Fibonacci level).

The most recent weekly candlestick came as bearish engulfing one, closing below the level of 1.5450 (Head and Shoulders neckline).

This enhances the bearish side of the market in the long term. For the reversal pattern, an approximate projection target should be located at the level of 1.5050.

In the short term, the nearest demand level to meet the GBP/USD pair is located around 1.5200. It constitutes a prominent demand level to be watched for a significant price action.

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 the 50% Fibonacci level and the previous prominent top, was temporarily broken enabling further bearish decline towards 1.5350 where an ascending bottom was recently established.

Prominent supply/resistance existed around the level of 1.5770 (prominent 61.8% Fibonacci level) where the right shoulder of the depicted bearish reversal pattern was originated.

That is why, a valid sell entry was suggested for retesting at 1.5770 two weeks ago. The position has already achieved most of its targets.

Moreover, the previous bearish movement found its way towards the level of 1.5200 (Prominent Demand Level) where evident bullish rejection was expressed (bullish engulfing Daily candlestick).

On the other hand, if the current bullish pullback takes place above the level of 1.5300, bearish rejection should be expected in the zone of 1.5450-1.5500 (recent resistance zone) with T/P levels projected towards 1.5200 and then 1.5050.

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Intraday technical levels and trading recommendations for EUR/USD for September 9, 2015 Market Analysis Review

The pair 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 in January 1997). Bullish recovery was expressed shortly after.

April's candlestick came as bullish engulfing one. However, the next monthly candlesticks (May, June, July, and August) reflected the 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 breakout of the monthly demand level at 1.0550 occurs soon.

On the other hand, a bullish corrective movement towards 1.1500 will take place only if a high of 1.1465 gets breached.

This can be achieved if the current monthly candlestick closes above the weekly high (1.1465) late this month.

Recently, evident bullish recovery was expressed after hitting the level of 1.0800. Since then, bulls have been trying to achieve an extensive bullish movement towards 1.1500 and 1.1700.

Multiple ascending bottoms were established around the levels of 1.0830 and 1.1020. These levels corresponded to the current daily uptrend depicted on the chart.

Extensive bullish pressure was applied until bearish resistance was expressed around the level of 1.1700.

Recently, the market looked overbought as the bulls were pushing above the price level of 1.1500 (Daily Supply Level).

That is why a bearish movement is taking place towards the level of 1.1160 (61.8% Fibonacci level), which is being breached Today.

Daily persistence below the level of 1.1160 exposes the next demand level around 1.0980 where the daily uptrend comes to meet the pair.

Conservative traders can wait for a valid BUY entry around the price zone of 1.0980-1.1000 (the depicted uptrend line). S/L should be placed below 1.0950. T/P levels should be placed at 1.1080 and 1.1160.

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Technical analysis of Silver for September 09, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver rallied through the level of $14.95 today before pulling back lower again.. Please note that levels of $15.00/10 are fibonacci 0.618 resistance as depicted here and a bearish reaction is expected. Bears are likely to remain in control of untill prices stay below $15.60. It is recommended to remain flat for now and trying to go short again around $15.00/10. Immediate support is seen at $14.00 followed by $13.00, $12.00, and lower while resistance is seen at $15.60 followed by $16.40/50 and higher.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of Gold for September 09, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is moving sideways now trading around $1,119.00/20.00. The metal might rally through the levels of $1,135.00. Please note that bears are expected to remain in control until prices stay broadly below $1,170.00. It is recommended to remain flat now, looking for an opportunity to sell again around $1,135.00. Immediate support is seen at $1,110.00 followed by $1,090.00, $1,075.00, and lower, while resistance is seen at $1,170.00 followed $1,200.00 and higher.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of EUR/JPY for September 09, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair faced initial resistance at 135.00. The pair is expected to drift lower/retrace towards at least 133.25. At the same time, there is still a probability that the pair will countinue to drop towards 130.00. It is recommended to take profit on long positions and remain flat for now. Immediate support is seen at 132.00 followed by 130.00 and lower, while resistance is seen at 136.00 followed by 137.00, 139.00, and higher respectively. The pair remains bearish until prices stay below 139.00.

Trading recommendations:

Exit long positions and remain flat.

Good luck!

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Technical analysis of USD/CAD for September 9, 2015 Market Analysis Review

Trading recommendations:

• The resistance for the USD/CAD pair is seen at 1.3225 and a minor resistance has been placed at the level of 1.3262 (61.8% Fibonacci retracement levels). Furthermore, it will be quite profitable to sell below 1.3262 for retesting the next objectives in order to call for a bearish market from the last wave of 1.3260. Therefore, sell deals are recommended below 1.3262 with targets at 1.3206. The bias will resume towards the level of 1.3172 to reach a strong support on 9th of September 2015. On the contrary, the key level is seen at 1.3262 today. Consequently, the ascending movement will probably be higher than 1.3262 with a target at 1.3301.

Observations:

• The USD/CAD pair found support at 1.3172. Moreover, the weekly support 1 is seen at the same level, but the double bottom was already formed at 1.3162.
• Major resistance is seen at 1.3301.
• We expect a new range about 238 pips this week.

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EUR/NZD : analysis for September 09, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving downwards. As we expected, the price tested the level of 1.7448 in a high volume. In the daily time frame, we can observe a supply bar in an average volume. The intraday trend is downward. I found strong resistance (cluster) around the level of 1.7870.. In the H1 time frame, we can observe sings of weakness (supply coming in) that means we may expect further downward continuation. Support levels are at are seen at 1.7450 and 1.7330.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.7820

R2: 1.7885

R3: 1.7995

Support levels:

S1: 1.7600

S2: 1.7530

S3: 1.7420

Trading recommendations: Weakness is observed in the H1 time frame. Be careful when buying EUR/NZD and watch for potential selling opportunities.

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Technical analysis of NZD/USD for September 9, 2015 Market Analysis Review

Overview:

• According to the previous events, the NZD/USD pair is still moving between the levels of 0.6447 and 0.6336. The strong resistance level will be formed at 0.6447 (this level coincides with the ratio of 61.8% Fibonacci retracement levels in the H1 time frame) generating a clear signal to sell deals with targets at 0.7380 and 0.6336 in order to test the double bottom on the same chart. The stop-loss is to be placed above the resistance at the level of 0.6447. On the other hand, the strong support level will be formed at 0.6336 (this level coincides with the ratio of 38.2% Fibonacci retracement levels) providing a clear signal to buy with targeta seen at 0.6391 (50% Fibonacci retracement levels) and 0.6450. Also, it should be noted that if the trend breaks 0.6336, it will continue towards the weekly support 2 at the level of 0.6267, which acts as strong support. However, the stop loss should never exceed your maximum exposure amounts. So, it is to be placed below the strong support at the price of 0.6221.

Notes:

• The key level is seen at 0.6366 because it represents the daily pivot point.
• If the trend is upward, then the strength of the currency will be defined as follows: NZD is in an uptrend and USD is in a downtrend.

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Technical analysis of GBP/CHF for September 09, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair had pair hit the levels around 1.5100 and performed a bearish bounce as expected. The pair is trading around 1.5020/30 at the moment. It is expected to continue drifting lower to at least 1.4200. It is recommended to remain short (from 1.5100 levels), with risk around 1.5400. Immediate support is seen at the levels of 1.4900 followed by 1.4750, 1.4600, and lower, while resistance is seen at 1.5100 (interim), followed by 1.5350, 1.5400, and higher respectively.

Trading recommendations:

Remain short for now, place stop at 1.5400, a target is open.

Good luck!

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Gold : analysis for September 09, 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading downwards. The price tested the level of $1,119.90. According to the daily time frame, we can observe a weak demand bar which finished in the middle in an average volume (potential selling) . Strong support is found at the level of $1,117.50. If the price breaks this support level, we will get the second support around $1,085.00. In the H1 time frame, we can observe weak demand with a strong reaction from sellers. The intraday trend is bearish

Daily Fibonacci pivot points :

Resistance levels

R1: 1,122.00

R2: 1,123.50

R3: 1,126.00

Support levels:

S1: 1,117.00

S2: 1,116.00

S3: 1,113.65

Trading recommendations: Bearish market. Watch for potential selling opportunities after correction.

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Global macro overview for 09/09/2015 Market Analysis Review

Global macro overview for 09/09/2015:

The Reserve Bank of New Zealand (RBNZ)is set to release its decision on the short-term interest rates at 9:00PM GMT today. The current interest rate is at the level of 3.00%, but the market expects a further cut by 0.25% to the level of 2.75%. Please notice that RBNZ has alredy cut the rates twice this year to stimulate the sluggish growth outlook.

The NZD/USD chart looks slightly bullish ahead of the RBNZ meeting and interest rate decision as the market broke above the golden trend line and now is trying to test the important resistance at the level of 0.6408. The support comes at the level of 0.6242.

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USDX technical analysis for September 9, 2015 Market Analysis Review

The US Dollar Index remains below the important trend-line resistance at 96.40 in the short term and at 97.80 in the long term. The price is moving right below important short-term resistance, so bulls need to be very cautious amid a possible pullback towards 94.50, which can take place.

Green line - resistance

The US Dollar Index is above the Ichimoku cloud in the 4-hour chart but below the green trend-line resistnace. A break above 96.50 will be a bullish sign that could bring the price towards 97.50-98. Rejection here will push the price towards cloud support near 95.75.

Red line -resistance

Green line - support

The US Dollar Index remains below the weekly kijun-sen (yellow Ichimoku indicator). This implies that bears have increased chances to stay in the trend and push prices towards at least 94.

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Global macro overview for 09/09/2015 Market Analysis Review

Global macro overview for 09/09/2015:

The revised seasonally adjusted EU GDP for the second quarter was overall better than expectations. The number was at the level of 0.4% q/q (1.5% y/y) vs. 0.3% q/q (1.2% y/y). The household consumption came out at the level of 0.4% q/q in line with experts' expectations, but lower than last quarter number of 0.5%. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.5% in the EU. The release reveals a decline in EU GDP and weaker growth outlook for the next quarters to come.

The EUR/USD pair was not heavely influenced by this news. The second quarter numbers were better than expected, but not better enough to make the market move impulsively in one direction. On the H4 chart, the current resistance is seen at the level of 1.1228 and support is found at the level of 1.1086.

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Gold technical analysis for September 9, 2015 Market Analysis Review

Gold price continues to trade above support at $1,117. As long as it does not break below it, bulls still have chances to send the price towards $1,170 again. Gold price is above its critical support and there is still no sell signals on the chart.

Green line - support

Black line - resistance

The price is below the black downward sloping trend line. A breakout above $1,125 will probably push the price towards $1,135 where the short-term Ichimoku cloud resistance is found. A breakout below $1,117 will bring in more sellers and push the price even lower to the territory below $1,100.

The weekly chart remains bearish. After the rejection at the 61.8% retracement, prices moved below the weekly tenkan-sen indicator ( red line). Gold price is now at important medium-term support line. Breaking below $1,117 area will probably push prices to the lows which were previously reached in summer.The material has been provided by InstaForex Company - www.instaforex.com

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Technical analysis of EUR/JPY for September 9, 2015 Market Analysis Review

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

The level of 134.68 was violated, so the green impulsive count to the downside had been invalidated. The bottom for wave C black is now set at the level of 132.22. The current corrective structure labeled as abc purple might just be a part of a lager corrective (a)(b)(c) blue cycle with targets at the levels of 135.59 and 136.38.

Support/Resistnace:

136.68 - 61%Fibo

135.81 - Intraday Resistnace

135.59 - 50%Fibo

134.80 - WR1

134.25 - Intraday Support

133.50 - Weekly Pivot

Trading recommendations:

Sell orders from the level of 136.68 should still be in play with SL above the level of 135.10 and TP at the level of 134.25 and 133.50.

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Technical analysis of USD/CAD for September 9, 2015 Market Analysis Review

General overview for 09/09/2015 09:00 CET

Larger time-frame cycles point out a rather more corrective structure of wave 4 purple that had been developing since the middle of August. In this case the recent price action is a part of the wave C purple of the wave 4 purple and any breakout above the golden trend line will be bullish. Please notice, the non-linear regression model channel slope is downward and this supports one more wave up ( wave 5 purple) and bigger corrective cycle to the downside.

Support/Resistnace:

1.3359 - WR1

1.3352 - Swing High

1.3326 - Intraday Resistance (strong)

1.3237 - Weekly Pivot

1.3148 - WS1

1.3136 - Intraday Support (weak)

1.3115 - Intraday Support (strong)

Trading recommendations:

Daytraders should refrain from trading and wait for more clear pattern to occur. Swingtraders should close their long-term buy orders and wait for further confirmation of a higher-degree corrective cycle.

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Elliott wave analysis of EUR/NZD for September 9 - 2015 Market Analysis Review

Technical summary:

A triangle formation should be finished soon. We still belive that this is a wave (iv) triangle and that it will call for a thrust out of the triangle towards the upside. A break above resistance at 1.7881 will confirm the upside thrust. Of course, it can turn out to be a B-wave triangle, which a break below support at 1.7304 will confirm.

Now we are at levels that makes the risk better to handle. So, we can wait for the thrust out of the triangle either at 1.7881 for the next rally or below support at 1.7304 for more declines. Or we could buy EUR here with a stop and revers at 1.7300.

Trading recommendation:

We think that we are at levels, where the risk is manageable again. We will buy EUR at 1.7490 and place our stop at 1.7300.

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Elliott wave analysis of EUR/JPY for September 9, 2015 Market Analysis Review

Technical summary:

A rally from a low of 132.19 is stronger than expected, so the question is whether wave 2 ended at 132.19 or we just saw a lower wave Y? The possible S/H/S top is also in danger invalidation. If this rally is terminated or gets close to termination near 134.75 for a break below support at 133.97 and more importantly below support at 132.95, we should expect swings towards this being an X-wave and more downside pressure to below 132.19. On the other hand, a clear break above resistance at 135.80 will favor wave 2 being over 132.19 and a new impulsive rally, which is currently unfolding.

Trading recommendation:

Our stop at 134.00 was hit. We will sell EUR again here at 134.53 with a stop at 134.85.

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Technical analysis of EUR/USD for September 09, 2015 Market Analysis Review

When the European market opens, economic news on German 10-y Bond Auction is due to be released. The US will publish economic data on 10-y Bond Auction and JOLTS Job Openings. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1261.

Strong Resistance:1.12055.

Original Resistance: 1.1244.

Inner Sell Area: 1.1233.

Target Inner Area: 1.1207.

Inner Buy Area: 1.1181.

Original Support: 1.1170.

Strong Support: 1.1159.

Breakout SELL Level: 1.1153.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for September 09, 2015 . Thanks for your support.

Technical analysis of USD/JPY for September 09, 2015 Market Analysis Review

In Asia, Japan will release data on the Prelim Machine Tool Orders y/y, Consumer Confidence, and M2 Money Stock y/y. The US is expected to post economic data about 10-y Bond Auction and JOLTS Job Openings. So, there is a strong probability that USD/JPY will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.86.

Resistance. 2: 120.62.

Resistance. 1: 120.39.

Support. 1: 120.10.

Support. 2: 119.86.

Support. 3: 119.63.

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 USD/JPY for September 09, 2015 . Thanks for your support.

Daily analysis of major pairs for September 9, 2015 Market Analysis Review

EUR/USD: This pair simply traded sideways on Tuesday, without any directional movement. The price would either break above the resistance lines at 1.1250 and 1.1300; or break below the support lines at 1.1100 and 1.1050. A break above the aforementioned resistance lines is more likely.

USD/CHF: This market remains bullish, for the price has gone upwards in a slow and steady manner, against all odds. The EMA 11 is above the EMA 56 and the Williams' % Range period 20 is around the overbought region. This signifies a Bullish Confirmation Pattern in the chart. The price has already reached the resistance level at 0.9800 and it has tested it several times. With more efforts, the resistance level would be overcome. On the other hand, a surge of strength in the EUR/USD might send the USD/CHF southwards.

GBP/USD: This currency trading instrument has gone upwards by 220 pips this week, running into the distribution territory of 1.5400. Should the price move further upwards by 200 pips, the outlook would turn bullish. This means that the price must first go above the distribution territory of 1.5400 in order to perform a bullish attempt to continue holding on.

USD/JPY: The Bearish Confirmation Pattern remaines intact in this chart. There is a possibility that the demand levels at 119.00 and 118.50 could be tested any day; serious weakness in the yen could cause strengthening in USD against the yen.

EUR/JPY: The EUR/JPY cross has moved upwards by 140 pips this week. Though the overall outlook remains bearish. Only a movement above the supply zone at 135.50 would result in a clear bullish bias; otherwise, this could be another opportunity to sell short at better price.

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Daily analysis of GBP/USD for September 09, 2015 Market Analysis Review

GBP/USD is still moving inside a bullish corrective channel which is taking in place on the daily chart. It made a breakout at the level of 1.5329 to the upside. That is why we focus on the territory around 1.5479 in the mid- and short-term, which is the nearest resistance level in this time frame.

On the H1 chart, the pair is forming a higher high pattern above the support level of 1.5357, with a consolidation zone above the 200 SMA. The resistance level of 1.5402 is the closest one in the short term, where a breakout to the upside should happen in order to reach the next high at 1.5440.

Daily chart's resistance levels: 1.5479 / 1.5559

Daily chart's support levels: 1.5329 / 1.5181

H1 chart's resistance levels: 1.5402 / 1.5440

H1 chart's support levels: 1.5357 / 1.5319

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 1.5357, take profit is at 1.5319, and stop loss is at 1.5393.

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