Technical analysis of EUR/USD for October 26, 2015 Market Analysis Review

When the European market opens, some economic news on the German Buba Monthly Report and German Ifo Business Climate is due to be released.The US will publish data on the New Home Sales. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1071.

Strong Resistance:1.1065.

Original Resistance: 1.1054.

Inner Sell Area: 1.1043.

Target Inner Area: 1.1017.

Inner Buy Area: 1.0991.

Original Support: 1.0980.

Strong Support: 1.0969.

Breakout SELL Level: 1.0963.

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 October 26, 2015 Market Analysis Review

In Asia, Japan will not release any economic data, but the US will publish economic news about New Home Sales. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.74.

Resistance. 2: 121.50.

Resistance. 1: 121.26.

Support. 1: 120.97.

Support. 2: 120.73.

Support. 3: 120.49.

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 26, 2015 . Thanks for your support.

Daily analysis of major pairs for October 26, 2015 Market Analysis Review

EUR/USD: The EUR/USD pair is in a strong bearish mode now having fallen by 350 pips last week. The bias is bearish, and the price is supposed to go further south this week. But the price needs to break the psychological support line at 1.1000 to the downside. While this might look like a hard job for bears, it is attainable.

USD/CHF: A movement in the USD/CHF is largely dictated by movements in EUR/USD. Therefore strength was transferred indirectly by weakness in the latter. From the support level of 0.9500, the price moved by 300 pips upwards. Now it is very close to the resistance level of 0.9800. In case the price goes above that resistance level (which is very much likely), the next target for bulls would be another resistance level at 0.9900.

GBP/USD: The cable was unable to make any meaningful rally last week because bulls met a stubborn impediment at the distribution territory of 1.5500. In fact, the price simply went down last week resulting a "sell" signal in the market. The price needs to go further down, so that the "sell" signal could be valid. The cable might be under selling pressure as long as the EUR/USD pair is weak enough. They are both positively correlated.

USD/JPY: The USD/JPY pair nicely trended upwards last week ending the recent protracted equilibrium phase in the market. Since October 15, 2015, the price has moved upwards by roughly 350 pips almost reaching the supply level of 121.50. This week, we anticipate a further northward movement, which may enable the price to reach the resistance levels of 122.00 and 122.50.

EUR/JPY: Due to sudden weakness in the EUR, the EUR/JPY cross rapidly fell in the last few days previouse week. There is now a Bearish Confirmation Pattern in the market, which would most probably continue as long as the EUR is weak. The only factor that can reverse this is a situation is which the YEN becomes weaker than the EUR.

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Daily analysis of USDX for October 26, 2015 Market Analysis Review

The USDX is currently forming a higher high pattern above the support level of 96.85 after another bullish momentum gained during Friday's session. The 200 SMA is slightly bullish on the H1 chart and we expect a rally to unfold towards the resistance level of 97.51 following a breakout in the zone of 97.16. If the index starts making pullbacks at a current stage, it could fall towards the level of 96.56 in a corrective bias. The MACD is still at the positive territory.

H1 chart's resistance levels: 97.16 / 97.51

H1 chart's support levels: 96.85 / 96.56

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 97.16, take profit is at 97.51, and stop loss is at 96.81.

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Daily analysis of GBP/USD for October 26, 2015 Market Analysis Review

On the H1 chart, there is a pullback in progress from the 200 SMA until the support level of 1.5306, where the GBP/USD pair is expected to find a bottom. A rebound over there will push the pair towards the resistance level of 1.5339, where a breakout can happen for another rally towards the zone 1.5374. The 200 SMA is slightly pointing to the downside. Our short-term outlook remains bullish as long as the pair continues to trade above the level of 1.5264.

H1 chart's resistance levels: 1.5339 / 1.5374

H1 chart's support levels: 1.5306 / 1.5264

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 seen at 1.5339, take profit is at 1.5374, and stop loss is at 1.5305.

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