Elliott wave analysis of EUR/NZD for October 5, 2015 Market Analysis Review

Technical summary:

Prices spiked higher on Friday due to the weak Non Farm Payrolls data, but only to resume an underlying decline towards at least a 38.2% corrective target at 1.6781. In the short term, we are watching for a break below 1.7294 (the bottom of wave i of C) to confirm wave iii moving lower to at least 1.7028.

At this point, only an unexpected rally above 1.7650 will question the underlying bearish count.

Trading recommendation:

Our stop at 1.7580 was hit due to a price spike on Friday, but we remain bearish and still see a nice downside potential. So, we will like to short EUR at 1.7530 with a stop at 1.7660.

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Elliott wave analysis of EUR/JPY for October 5, 2015 Market Analysis Review

Technical summary:

A very messy price-action continues to unfold in the market. We are looking for a decline to 131.45 as long as resistance at 135.10 protects the upside. Any break above resistance at 135.10 will delay the expected decline and could possibly be the first serious warning that the bottom was found earlier at 132.23 and that a new impulsive rally is unfolding.

Trading recommendation:

We have placed buy orders at 131.60 or upon a break above 135.10 (one order done cancels the other).

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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/JPY for October 5, 2015 . Thanks for your support.

Technical analysis of EUR/USD for October 05, 2015 Market Analysis Review

When the European market opens, economic news on Retail Sales m/m, Sentix Investor Confidence, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI is due to be released. The US will publish economic data on Labor Market Conditions Index m/m, ISM Non-Manufacturing PMI, and Final Services PMI. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1273.

Strong Resistance:1.1267.

Original Resistance: 1.1256.

Inner Sell Area: 1.1245.

Target Inner Area: 1.1219.

Inner Buy Area: 1.1193.

Original Support: 1.1182.

Strong Support: 1.1171.

Breakout SELL Level: 1.1165.

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 October 05, 2015 . Thanks for your support.

Technical analysis of USD/JPY for October 05, 2015 Market Analysis Review

In Asia, Japan will release the Average Cash Earnings y/y, and the US will release economic data on Labor Market Conditions Index m/m, ISM Non-Manufacturing PMI, and Final Services PMI. So, there is a strong probability that USD/JPY will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.56.

Resistance. 2: 120.33.

Resistance. 1: 120.09.

Support. 1: 119.80.

Support. 2: 119.56.

Support. 3: 119.33.

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 October 05, 2015 . Thanks for your support.

Daily analysis of USDX for October 05, 2015 Market Analysis Review

The USDX continues to trade sideways between the levels of 96.38 and 95.83, in an effort to move higher and perform a consolidation for further rallies. However, as we can see on the daily chart, there are still high chances to see pullbacks below the support level of 95.83, across the zone of 95.26. The MACD indicator is entering the neutral territory.

On the H1 chart, we saw a strong downtrend during the Friday session, and the index is still trying to ride the bullish bias above the 200 SMA again. Currently, a breakout above the resistance level of 96.15 aims to open the door to test the zone of 96.30. A breakout below the level of 95.38 will unleash the bearish force at least in the short and mid-term.

Daily chart's resistance levels: 96.38 / 96.91

Daily chart's support levels: 95.81 / 95.26

H1 chart's resistance levels: 96.15 / 96.30

H1 chart's support levels: 95.94 / 95.38

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 96.15, take profit is at 96.30, and stop loss is at 96.00.

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Daily analysis of GBP/USD for October 05, 2015 Market Analysis Review

On the daily chart, GBP/USD found a bottom near the zone of 1.5169, and it is expected to extend corrective moves towards 1.5256. However, this move should be taken as one lower low pattern formation, which could deliver more bearish moves until at least the support level of 1.5030. The MACD indicator remains at the negative territory.

We saw a recovery from the support level of 1.5103 and now the Cable is testing the 200 SMA on the H1 chart, a zone that produced a pullback across the support level of 1.5166. In case of a breakout below there, it could fall until 1.5103. We Still want to ride the current bearish bias. The MACD indicator is entering the negative territory.

Daily chart's resistance levels: 1.5169 / 1.5256

Daily chart's support levels: 1.5030 / 1.4955

H1 chart's resistance levels: 1.5223 / 1.5284

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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For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of GBP/USD for October 05, 2015 . Thanks for your support.