GBP/USD intraday technical levels and trading recommendations for November 13, 2015 Market Analysis Review

Overview:

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

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

Later, the support level of 1.5555 got breached by the end of September, due to the excessive bearish pressure, which originated at 1.5800.

The GBP/USD pair moved towards the support zone of 1.5170-1.5150 where a valid intraday buy entry was offered especially after the evident bullish rejection, which took place on October 6.

Conservative traders were advised to wait for a bullish pullback towards the level of 1.5480 for a low-risk sell entry.

Note that bearish persistence below the level of 1.5200 is needed for a further bearish decline towards the levels of 1.5000 (prominent weekly support).

A valid sell entry can be offered around the current levels (1.5225-1.5250) if enough bearish rejection is expressed by the end of the day.

However, a bullish breakout above the level of 1.5250 exposes next resistance levels around 1.5350 and 1.5450.

On the other hand, price actions should be watched around 1.4980 where the lower limit of the depicted movement channel comes to meet the GBP/USD pair. This is where a valid buy entry can be offered. S/L should be located below 1.4900.

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Technical analysis of USD/JPY for November 13, 2015 Market Analysis Review

USD/JPY is turning downwards. Overnight, US stocks fell over 1% undermined by shares in the energy, materials as well as pharmaceutical biotechnology and life sciences sectors. Nymex crude oil dropped another 2.8% to $41.75 a barrel. The Dow Jones Industrial Average fell 1.4% to 17,448, the S&P 500 lost 1.4% to 2,045, while the Nasdaq Composite was down 1.2% to 5,005. Gold edged down 0.1% to $1,084 an ounce, and the benchmark 10-year Treasury yield eased to 2.313% from 2.343% in the previous session.

Meanwhile, the US dollar weakened against most other major currencies as investors kept seeking clues about the Federal Reserve's possible rate increase in December. The Wall Street Journal Dollar Index dropped 0.3% to 89.99. EUR/USD rose 0.7% to 1.0817, while USD/JPY was down 0.2% to 122.59.The pair broke below its previous key support and remains under pressure. Currently, it is capped by a declining trend line established in November 9. It stands below the 20-period intraday moving average (MA), which is below the 50-period one. And the intraday relative strength index (RSI) remains below the neutrality level at 50. The intraday outlook has turned bearish. The first downside target is set at 122.30; and the second one, at 122 (a base formed on November 6).

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 122.30. A break of that target will move the pair further downwards to 122. The pivot point stands at 123.05. 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 123.40 and the second target at 123.60.

Resistance levels: 123.40 123.60 124

Support levels: 122 121.60 122.35

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Technical analysis of USD/CHF for November 13, 2015 Market Analysis Review

The USD/CHF pair got under pressure. The pair is clearly turning down being capped by its falling 20- and 50-period intraday MAs. The intraday RSI remains weak below its neutrality area of 50. Furthermore, the process of reaching lower highs and lows is taking place, which should confirm a bearish trend reversal. In that case, as long as 1.0055 (our trailing stop loss) acts as resistance, look for a new decline to 0.9980. A breakout below 0.9980 would trigger a bearish acceleration towards 0.9945.

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 0.9980. A break of that target will move the pair further downwards to 0.9945. The pivot point stands at 1.0050. 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 1.0090 and the second target at 1.00125.

Resistance levels: 1.00890 1.0125 1.0140

Support levels: 0.9980 0.9945 0.9915

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Technical analysis of NZD/USD for November 13, 2015 Market Analysis Review

NZD/USD is expected to trade with a bearish bias as the key resistance is seen at 0.6590. The pair is moving sideways within a range between 0.6590 and 0.6500, and seems to be more likely to test the lower boundary. The technical outlook is mixed to bearish, as the strong resistance at 0.6590 continues to maintain selling pressure, while the intraday RSI lacks upward momentum. Hence, as long as 0.6590 holds on the upside, expect a new pullback to 0.6500 and 0.6475.

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 0.65. A break of that target will move the pair further downwards to 0.6475. The pivot point stands at 0.6565. 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 0.6590 and the second target at 0.6625.

Resistance levels:0.6590 0.6625 0.6645 Support levels: 0.6500 0.6475 0.6435

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Technical analysis of GBP/JPY for November 13, 2015 Market Analysis Review

GBP/JPY is expected to trade with a bullish bias. The pair is turning up after breaking above its 20-period and 50-period intraday MAs. The intraday RSI is positively oriented. Further upside is therefore expected with the next horizontal resistance and overlap set at 132.90187.10. A breakout above this level would call for further advance towards 187.75.

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 187.7510 and the second target at 188.307.75. In the alternative scenario, short positions are recommended with the first target at 185.80 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 185.30. The pivot point is at 186.205.

Resistance levels: 187.10 187.75 188.30

Support levels: 185.80 185.30 184.80

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USD/CAD intraday technical levels and trading recommendations for November 13, 2015 Market Analysis Review

Overview:

A bullish breakout above the zone of 1.2770-1.2800 was observed on July 15 (highlighted in blue).

The long-term bullish target was projected towards the level of 1.3270 (100% Fibonacci Expansion). However, bulls moved further above the resistance level, which was bypassed on September 23.

Significant bearish rejection was observed around 1.3450 where the 141.4% Fibonacci Expansion was roughly located.

Later on October 1, bearish persistence below 1.3270 (Fibonacci Expansion 100%) was expressed. This applied enough bearish pressure to expose the next support levels around 1.2910 and 1.2750 where long-term buy entries were suggested.

On October 23, daily closure above 1.3100 was achieved. Besides, this enhanced the bullish side of the market.

The level of 1.3270 (Fibonacci Expansion 100%) got exposed shortly after USD/CAD bulls managed to push above the level of 1.3100.

On October 28, a valid sell entry was suggested around the level of 1.3270 (FE 100%). Target levels are located at 1.3075 and 1.2930.

A bearish breakout below the support level at 1.3075 was mandatory to allow further bearish decline towards 1.2930. However, an evident bullish rejection was expressed around this level instead.

Hence, another bullish visit towards the level of 1.3270 (FE 100%) is being executed as anticipated in the previous articles.

A price action should be watched around the price level of 1.3300 on a daily basis, as a daily breakout above 1.3300 directly exposes the next resistance level at 1.3450 which corresponds to Fibonacci Expansion 141.0% (significant resistance level).

Trading recommendations:

Risky traders can sell the USD/CAD pair around 1.3270-1.3300 (considered a risky trade as the recent weekly candlestick suggests more bullish advancement). S/L should be placed above 1.3350.

Conservative traders should wait to SELL the USD/CAD pair around 1.3450 (Fibonacci Expansion 141.0%).

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Intraday technical levels and trading recommendations for GBP/USD for November 13, 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 of 1.5900, which has been providing the GBP/USD pair with significant resistance.

Recent weekly candlesticks came as bearish engulfing candles, closing below the level of 1.5220 (the neckline of the Head and Shoulders pattern).

This supports the bearish side of the market in the long term. An approximate projection target should be located at the level of 1.4800 for this reversal pattern.

The previous demand level at 1.5200 (the origin of a previous bullish engulfing weekly candlestick) was broken down last week after it has provided significant bullish demand for the GBP/USD pair.

Now, the price zone at 1.5200-1.5230 constitutes an important supply zone to be watched for bearish positions which can be offered today.

The next demand level to meet the GBP/USD pair is located at 1.4950 (weekly demand level) where a possible BUY entry can be offered.

The previous bearish movement found its way towards the level of 1.5200 (prominent demand level), which prevented further bearish decline.

Instead of it, evident bullish reaction was expressed around 1.5200-1.5170 (resulting in bullish engulfing daily candlesticks)

This led to the recent bullish pullback towards 1.5600 (the backside of the depicted uptrend). It placed the GBP/USD pair under significant bearish pressure.

Recently, daily candlestick closure above the level of 1.5380 (two weeks ago) enhanced the bullish side of the market exposing levels around 1.5500 where bearish rejection was anticipated, similar to what happened back on October 22.

Demand levels at 1.5350 and 1.5200 were broken down last week. These levels currently constitute prominent supply levels to be watched for new sell entries. The price level of 1.5200 is being revisited today.

Note that bearish persistence below 1.5200 is mandatory to allow further bearish decline towards next demand levels at 1.5090, 1.5025, and 1.4950.

On the other hand, a daily breakout above supply level at 1.5220 enhances the bullish side of the market at least towards 1.5350.

Trading Recommendation:

A low-risk buy entry will probably be offered around the weekly demand levels at 1.5000-1.4950. S/L should be placed below 1.4920. Initial T/P levels should be located at 1.5170 and 1.5300.

On the other hand, risky traders can SELL the GBP/USD pair around 1.5220 (the current supply level). S/L should be located above 1.5250.

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Intraday technical levels and trading recommendations for EUR/USD for November 13, 2015 Market Analysis Review

The EUR/USD pair moved lower after breaking below the major demand levels around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010.

EUR/USD bears already pushed the price slightly below the monthly demand level of 1.0550 (established in January 1997). Bullish recovery was observed shortly after.

April's candlestick came as bullish engulfing one. However, the next monthly candlesticks (July, August, September and October) reflected recent bearish rejection, which was expressed around the level of 1.1450.

Hence, in the long term, a projected target is still seen at 0.9450 if a bearish breakdown of the monthly demand level at 1.0575 occurs before the end of the current month.

On August 24, the market looked overbought as bulls were pushing the pair further beyond the level of 1.1500 (daily supply level).

Recently, the intraday supply zone of 1.1360-1.1400 provided significant bearish rejection. An intraday sell entry was suggested. T/P levels located at 1.1150 and 1.1050 were already reached.

A bearish breakout of the depicted uptrend line has been executed on October 23. This enhanced a long-term bearish scenario with targets projected at 1.0800 and 1.0600.

Last week, daily persistence below the level of 1.0990 exposed the next demand level around 1.0850 where prominent bottoms were previously established in May, July, and August.

This week, daily persistence below the level of 1.0800 (prominent bottom established on July 21) is needed to maintain enough bearish momentum towards 1.0680 and 1.0530 (prominent monthly low).

An intraday sell entry can be offered around 1.0850 if the current bullish pullback persists above 1.0770 (Wednesday's highest level).

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Global macro overview for 13/11/2015 Market Analysis Review

Global macro overview for 13/11/2015:

The flash GDP reading for the eurozone disappoints the investors as the figures are slightly weaker than expected (0.3% q/q; 1.6% y/y versus 0.4% q/q; 1.7% y/y expected). The German and French GDP reports both came in at 0.3%, matching expectations. The trade balance has positively surprised as it rose to 20.1bln vs. 19.4bln. The overall picture of the European economy looks steady, but the growth is still sluggish and slow. Nevertheless, it does not mean ECB President Mario Draghi will hesitate to extend the QE beyond September 2015 at the December meeting.

The EUR/USD pair is trading just below the technical resistance at the level of 1.0808. The support is seen at the level of 1.0751.

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EUR/NZD analysis for November 13, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving upwards. As I had expected, the price tested the level of 1.6549. The short-term trend is still neutral. Be careful when selling EUR/NZD before a breakout of the key support level takes place. In the the daily time frame, we can see an upward bar in a volume above the average. A high-volume breakout at the level of 1.6150 will confirm further downward movements. The resistance is seen at the level of 1.6560. According to the M30, I found absorption of selling climax in the background and today highest volume was supportive nature, which is a sign that we may see upward movements. So, be careful when selling at this stage because we may see potential recovery of the euro. Anyway, strong support at 1.6150 may become strong resistance once it gets broken.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6560

R2: 1.6615

R3: 1.6700

Support levels:

S1: 1.6375

S2: 1.6320

S3: 1.6230

Trading recommendations: Selling looks risky at this stage so watch for potential buying opportunities on an intraday basis. Selling opportunities are preferable only if the price breaks the level of 1.6150.

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Gold analysis for November 13, 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading downwards. As I had expected, the price tested the level of $1,073.95. According to the daily time frame, I found strong pin bar and reaction from buyers, which did not let sellers to break the key support at the level of $1,077.00 According to the M30 time frame, I found massive volume spike at the level of $1,074.00 and very strong reaction from buyers shortly after (sign of strenght). Watch for potential intraday buying opportunities. The level of $1,085.00 is intraday resistance. Anyway, If the price breaks the major support level ($1,077.00), we may see potential testing at $1,043.00.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,084.70

R2: 1,084.85

R3: 1,085.00

Support levels:

S1: 1,084.30

S2: 1,084.00

S3: 1,083.60

Trading recommendations: Watch for a potential breakout of our trading range. If the price breaks the level of $1,077.00 in a high volume, we may see further downward movement. Selling looks risky at this stage.

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Technical analysis of CHF/USD for November 13, 2014 Market Analysis Review

Overview:

• The USD/CHF pair has been ascending for several days. Due to the previous events, the price is still moving between the levels of 1.1000 and 1.0085. Besides, resistance is seen at the level of 1.0080, and the double top has already placed at 1.0086. So, the area of 1.0086 represents strong resistance today. From this point, it will be wide to sell in this area 1.0086 with the first target at 0.9985 in order to try to break the minor support. Then, the price will be able to continue moving in a downtrend towards 0.9955 (the level of 0.9955 coincides with the ratio of 78.6% Fibonacci retracement levels in the H4 chart). On the other hand, stop losses should be placed above 1.0125.

Notes:

• Major support is found at the level of 0.9955.
• Major resistance is seen in the area of 1.0080/1.0086.
• We expect a new range about 65-110 pips today.
• The level of 1.0015 will confirm the bullish market.
• The strength of the currency will be defined as follows: USD is in the uptrend and CHF is in the downtrend.

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Technical analysis of GBP/USD for November 13, 2014 Market Analysis Review

Overview:

• The rGBP/USD pair is is trading in a range between 1.5258 and 1.5112 this week. In addition, the GBP/USD pair hit the weekly resistance 1 and the pivot point. As a result, the market was in an uptrend. Strong support was found at the level of 1.5098. It should be noted that the support coincides with a ratio of 11.8% Fibonacci retracement levels and represents minor support in the H1 chart. So, the level of 1.5098 acts as the key level to confirm the bullish market. For that reason, the market will probably indicate the bullish opportunity at the level of 1.5100, which will act as support. Therefore, buy above 1.5135 with the first target at 1.5260. Also, in case of a breakout, the trend is going to continue towards the level of 1.5302 in order to form the double top.

Intraday technical levels:

Date 13/11/2015

Pair: GBP/USD

• R3: 1.5331
• R2: 1.5288
• R1: 1.5259
• PP: 1.5216
• S1: 1.5187
• S2: 1.5144
• S3: 1.5115

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Global macro overview for 13/11/2015 Market Analysis Review

Global macro overview for 13/11/2015:

Even the OPEC remarks about increasing oil demand was not enough for the price to hold the $42 handle and market fell to the 41.35 level yesterday. The reason for the sell-off was crude inventories data that showed higher-than-expected numbers again. The markets expectations were a slight decrease in stockpiles to the level of 1300K barrels from last weeks 2847K barrels, but instead the stockpiles rose to the level of 4224K barrels. Saudi Arabia will be facing a serious economic problems if the situation continues and the IMF has suggested deep structural reforms might be needed.

The crude oil rebounded slightly after yesterday's drop, but is still trading under the technical resistance at the level of 42.58. The next support is seen at the level of 39.89.

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USDX technical analysis for November 13, 2015 Market Analysis Review

The US dollar index spiked in the early European session, while ECB president Mario Draghi was giving a speech. However, shortly after it reversed confirming the fake breakout. Prices turned lower towards the support levels of the bullish channel, which remains intact in the medium-term.

Red line - resistance

Blue lines - bullish channel

The US dollar index has pulled back towards the lower channel boundary. Support is found at 98.40. If that level breaks, we should expect the price to move towards the short-term Ichimoku cloud support at 98. Resistance is seen at yesterday's highs. Breaking above it will imply the downward correction is over and new highs towards 100 should be expected.

The weekly chart shows an initial rejection at the previous highs. The level of 98 is critical support for bulls and any breakout below it should be treated as a big warning for bulls. Kijun-sen weekly support is found at 96. Taking profits at current levels or raising stops should be the preferred strategy.The material has been provided by InstaForex Company - www.instaforex.com

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Technical analysis of EUR/JPY for November 13, 2015 Market Analysis Review

General overview for 13/11/2015 09:00 CET

Another fake breakout from the triangle pattern made the current structure even more complex and time-consuming. The key level is the weekly pivot support at the level of 131.46 and only if this level is violated, the market will accelerate to the downside towards the next support at the level of 130.62.

Support/Resistnace:

130.62 - WS2

131.46 - WS1

132.12 - Intraday Support

132.34 - Weekly Pivot

132.75 - Intraday Resistnace

Trading recommendations:

All sell orders should be closed as they hit the TP level yesterday, so now traders should wait for another trading setup to occur.

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Technical analysis of USD/CAD for November 13, 2015 Market Analysis Review

General overview for 13/11/2015 08:50 CET

As anticipated yesterday, the fifth wave to the upside has been made. Nevertheless, there is still a potential for another wave up as the main count has not been completed yet. The key level would be the bottom for the wave b green at the level of 1.3223 as any breakout lower would expand the drop to the level of 1.3161.

Support/Resistnace:

1.3339 - Intraday Resistnace

1.3273 - Intraday Support

1.3239 - Weekly Pivot

1.3161 - WS1

Trading recommendations:

All buy orders should be closed now and traders should wait for another trading setup to occur.

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Gold technical analysis for November 13, 2015 Market Analysis Review

Gold price brake below the short-term sideways consolidation of the previous days and made a new low yesterday. Prices bounced back into the resistance area of the previous consolidation range. An overall trend remains bearish but gold can be at the final stages of its bearish market.

Red lines - broken trading range

Blue line - resistance

Gold price is trading below the Ichimoku cloud. The short-term trend remains bearish. The price reached a new lower low and the stochastic oscillator has given a bullish divergence as it failed to hit a new low also. Resistance is seen at $1,096 and next on is expected at at $1,105. Support is found at $1,1074.

Blue line - support

The daily chart shows the price is below the Ichimoku cloud trading around the previous lows levels. The Stochastic oscillator is at oversold levels with the inclination to turn higher. This implies that a bounce should be expected and any downward move is currently limited. Daily resistance is found at $1,120.

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Technical analysis of Gold for November 13 2015 Market Analysis Review

Technical outlook and chart setups:

Gold plummeted at lows of $1,077.00 and hit a low of $1,075.00 before staging a sharp pullback towards $1,090.00. The metal has reached the stop order at $1.075.00 and is calling for staying flat now. The metal needs to be pushed further to the levevl of $1,095.00 at least before we can confirmed that bulls are back in control again. Immediate support is seen at $1,075.00 (interim) followed by $1,050.00/30.00, and lower, while resistance is seen at $1,095.00 and higher.

Trading recommendations:

Remain flat now.

Good luck!

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Technical analysis of Silver for November 13 2015 Market Analysis Review

Technical outlook and chart setups:

Silver hourly chart shows that the metal has been dropping to lower lows and lower highs from the levels of $16.30/40. Yesterdays' lows at $14.20 remained just shy of support at $14.00, and can be considered a test now. A breakout below $14.00 could push the metal lower, but a rally from current levels and a breakout above $14.50/60, would bring bulls back in control. It is recommended to hold long positions with risk at $14.00 and refrain from adding fresh orders. Immediate support is seen at the level $14.00, while resistance is seen at $14.50/60 and higher respectively. A potential rally remains possible, but the metal needs to clear the way the the level of $14.50.

Trading recommendations:

Remain long with stop at $14.00, a target is open.

Good luck!

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Technical analysis of EUR/JPY for November 13, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair looks for an opportunity to form a meaningful low around 131.40/50. In the hourly chart, the set-up -indicates that the pair has broken the immediate resistance line falling back to test the backside of it, which should act as support now. Bulls are expected to extend through 133.20, 133.80, and higher. It is hence recommended to remain long with risk at 131.00. Immediate support is seen at the levels of 131.40, while resistance is seen at 133.20 and higher.

Trading recommendations:

Remain long with the stop at 131.00, targets are seen at 133.80 and 134.30.

Good luck!

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