Technical analysis of EUR/USD for September 28, 2015 Market Analysis Review

When the European market opens, no economic reports will be delivered, but the US will release economic data about Pending Home Sales m/m, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1252.

Strong Resistance:1.1246.

Original Resistance: 1.1235.

Inner Sell Area: 1.1224.

Target Inner Area: 1.1198.

Inner Buy Area: 1.1172.

Original Support: 1.1161.

Strong Support: 1.1150.

Breakout SELL Level: 1.1144.

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 September 28, 2015 Market Analysis Review

In Asia, Japan will not release any significant economic data, but the US is expected to release data on Pending Home Sales m/m, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So, there is a strong probability that USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.03.

Resistance. 2: 120.79.

Resistance. 1: 120.56.

Support. 1: 120.27.

Support. 2: 120.03.

Support. 3: 119.80.

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 28, 2015 . Thanks for your support.

Daily analysis of major pairs for September 28, 2015 Market Analysis Review

EUR/USD: The market is bearish, in which bulls are making relentless effort to push the price upwards. Bulls would not be deemed as being successful until the resistance line at 1.1300 is overcome. Until then, the market will remain bearish.

USD/CHF: The USD/CHF pair trended upwards in a directional mode last week, going above the resistance level of 0.9800 briefly before closing below it on Friday. There is a possibility that the resistance level might be tried and breached to the upside again. Only a serious stamina could send the USD/CHF pair plunging southwards.

GBP/USD: The cable fell 400 pips last week, testing the accumulation territory at 1.5150. There is a clean Bearish Confirmation Pattern in the market and the price could still continue its downwards journey by at least 200 pips this week. Accumulation territories at 1.5100 and 1.5000 are potential targets for bears.

USD/JPY: This is a strong equilibrium market in which there is no clear uptrend or downtrend. It is better for swing and position traders to stay away from the market until a reliable breakout from the strong equilibrium phase takes place; and this would require at least a movement of 200 pips upwards or downwards. Right now, the market is OK for scalpers and intraday traders.

EUR/JPY: The outlook for the EUR/JPY pair is bearish - though bulls are making serious attempts to push it upwards. EUR/JPY first trended downwards last week, and then it bounced upwards. As long as the price is under the supply zone of 136.00, the outlook is bearish. So, one might not go long until the supply zone is breached to the upside.

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Daily analysis of USDX for September 28, 2015 Market Analysis Review

On the daily chart, there is still a higher high pattern formation in progress above the support level of 95.83. That is why we should remind that the current structure will call for more upside as long as it stays above that territory. A bullish outlook should get invalidated when the USDX does a breakout below the level of 95.26.

The index is performing a pullback from Friday's highs as it is expected to test the 200 SMA on the H1 chart again. However, it could do a rebound above the support level of 96.15 in order to try another breakout around 96.30, towards the highs reached on Friday. The 200 SMA is turning to neutral territory and the MACD indicator is entering the negative territory.

Daily chart's resistance levels: 96.38 / 96.91

Daily chart's support levels: 95.81 / 95.26

H1 chart's resistance levels: 96.35 / 96.51

H1 chart's support levels: 96.15 / 95.94

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 seen at 96.30, take profit is at 96.47, and stop loss is at 96.13.

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Daily analysis of GBP/USD for September 28, 2015 Market Analysis Review

GBP/USD is approaching key zones on the daily chart, and one of them is the support zone of 1.5169. Remind that a breakout below that territory will open the door to test at the level of 1.5030 in coming days. However, because of the strong downside held since several days ago, the cable could start to perform deeper rebounds.

On the H1 chart, there is currently a bearish structure below the 200 SMA and also a support zone of 1.5166, which is currently acting as bottom. The 200 SMA is still pointing to the downside and this bias should be seen during the week, as GBP/USD could perform another bearish pattern development.

Daily chart's resistance levels: 1.5256 / 1.5344

Daily chart's support levels: 1.5169 / 1.5030

H1 chart's resistance levels: 1.5223 / 1.5285

H1 chart's support levels: 1.5166 / 1.5103

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.5166, take profit is at 1.5103, and stop loss is at 1.5229.

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Elliott wave analysis of EUR/NZD for September 28, 2015 Market Analysis Review

Technical summary:

We are closer to the strong support level near 1.7470, which is expected to protect the downside for the next rally higher. A short-term breaout above minor resistance at 1.7646, which will be the first good indication that a bottom is in place for a new rally towards strong resistance at 1.8000. There are no more doubt that the next impulsive rally higher to 1.8683 is unfolding.

It will take an unexpected break below support at 1.7333 to invalidate the upside pressure.

Trading recommendation:

We keep our EUR buy-order at 1.7475 or upon a break above resistance at 1.7646 (one order done cancels the other). Stop will be placed at 1.7325.

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Elliott wave analysis of EUR/JPY for September 28, 2015 Market Analysis Review

Technical summary:

We are entering the final part of the decline from 141.06. Continue to look for a decline closer to 131.45 before a new impulsive rally takes place. In thr short term, we will be looking for a breakout below minor support at 134.75 as the first good indication that the move closer to 131.45 is developing, while a break below support at 134.10 will confirm the decline.

Only an unexpected breakout above resistance at 136.03 will confirm that the bottom is already in place for renewed upside pressure.

Trading recommendation:

Our stop at 134.95 was hit, but we will sell EUR again upon a break below 134.75 with stop placed at 135.50 and take profit at 131.65.

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