Technical analysis of USD/CAD for November 16, 2015 Market Analysis Review

General overview for 16/11/2015 08:10 CET

In an alternative count, the five wave impulsive upward structure looks completed, but there is still a chance for one more push higher to complete the wave c green. Only a sustained breakout below the level of 1.3222 would change the short-term outlook.

Support/Resistance:

1.3375 - WR1

1.3348 - Intraday Resistance

1.3298 - Weekly Pivot

1.3266 - Intraday Support

1.3250 - WS1

Trading recommendations:

Day traders should refrain from trading until better trading setup occurs.

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Technical analysis of Gold for November 16 2015 Market Analysis Review

Technical outlook and chart setups:

Gold has broken above the initial interim resistance at $1,095.00, which was discussed at a potential trigger for at least a counter-trend rally. Also note that the immediate downtrend line has been broken and prices could rally higher towards $1,112.00 and $1,136.00 before reversing lower. Please note that this could still be considered as a counter trend/corrective rally until $1,180 resistance remains intact. Initial support is seen at $1,085.00 followed by $1,075.00, while resistance is seen at $,1,110.00, followed by $1,140.00 and higher.

Trading recommendations:

Stay long at $1,085.00, stop is at $1,070.00, a target is at $1,135.00/40.00

Good luck!

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Technical analysis of Silver for November 16 2015 Market Analysis Review

Technical outlook and chart setups:

Silver opened the week in the green. We expect the price to rally through the level of $14.50, which is initial interim resistance. Once the price pasts $14.50, it is safe to assume that an interim low has been formed around $14.20 and that the metal could perform a counter-trend rally. It is hence recommended to remain long from earlier positions, with risk at $14.00. Immediate support is seen at the levels of $14.00, while resistance is seen at $14.50/60 and higher respectively. Trend-line resistance is seen at $15.00 as depicted here.

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 16, 2015 Market Analysis Review

General overview for 16/11/2015 08:00 CET

Another wave downwards has unfolded after today's opening bell, so this triangle breakout to the downside is valid now. Nevertheless, there is still much room to the downside as the wave (c) hasn't been completed yet and only a sustained breakout above the wave (b) blue high at the level of 132.80 would change the bearish outlook.

Support/Resistance:

130.44 - WS1

130.63 - Intraday Support

131.48 - Intraday Resistance

131.81 - Weekly Pivot

132.36 - WR1

Trading recommendations:

Day traders should placing sell orders from the current levels with SL above the level of 131.82 and TP, which is open now.

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Daily analysis of major pairs for November 16, 2015 Market Analysis Review

EUR/USD: There was no serious upwards or downwards movements in the EUR/USD pair in the entire last week. For the year 2015, we saw the tightest sideways movements on most majors, each of which did not move upwards or downwards by 50 pips in certain cases. Although the equilibrium movement could continue, we expect rising market momentum to take place soon.

USD/CHF: This pair moved sideways throughout last week shrugging off all the fundamental data that could impact it. Last week, most major pairs shrugged off most of the fundamental figures, which were supposed to affect them (except the employment figures coming out of Australia, which affected the AUD pairs). The current consolidation movement could continue until there is a breakout, which would most probably favor the current bullish bias.

GBP/USD: After testing the accumulation territory around 1.5050, the price gradually bounced upwards by 200 pips, reaching the distribution territory at 1.5250. As long as the distribution territory at 1.5350 is not broken to the upside, the recent bearish bias would not be violated. It is probable that the bearish journey would be resumed.

USD/JPY: In the context of an uptrend, this pair simply consolidated to the downside. The price tested the supply level of 123.50 and got corrected lower, testing the demand level at 122.50. It is possible that the pair would still go further upwards; possibly breaking the supply level of 123.50 to the upside (for it is possible for the JPY pairs to assume a bullish journey before the end of this month).

EUR/JPY: Last week, the EUR/JPY pair merely moved in a choppy sideways manner. The price zigzagged between the demand zone of 131.50 and the supply zone of 133.00. This week, the EUR/JPY pair might find it difficult to rally significantly, especially as long as the EUR is weak.

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Daily analysis of USDX for November 16, 2015 Market Analysis Review

On the H1 chart, the USDX keeps moving above the 200 SMA after a rebound performed during Friday's session. The resistance zone of 99.25 is still a very active zone for sellers, so the index could try a breakout above that level towards 99.80. Our outlook remains bullish as long as the index holds last session's lows. The MACD indicator is entering the negative territory.

H1 chart's resistance levels: 99.25 / 99.80

H1 chart's support levels: 98.31 / 98.03

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 99.25, take profit is at 99.80, and stop loss is at 98.71.

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Technical analysis of EUR/USD for November 16, 2015 Market Analysis Review

When the European market opens, some economic news on the German Buba Monthly Report, ECB President Draghi Speaks, Final Core CPI y/y, and Final CPI y/y is due to be released.The US will unveil economic data on the Empire State Manufacturing Index. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0775.

Strong Resistance:1.0769.

Original Resistance: 1.0758.

Inner Sell Area: 1.0747.

Target Inner Area: 1.0722.

Inner Buy Area: 1.0697.

Original Support: 1.0686.

Strong Support: 1.0675.

Breakout SELL Level: 1.0669.

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 November 16, 2015 Market Analysis Review

In Asia, Japan will release the Prelim GDP Price Index y/y and Prelim GDP q/q. The US will publish economic data on the Empire State Manufacturing Index. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 123.13.

Resistance. 2: 122.89.

Resistance. 1: 122.65.

Support. 1: 122.35.

Support. 2: 121.11.

Support. 3: 121.87.

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 November 16, 2015 . Thanks for your support.

Daily analysis of GBP/USD for November 16, 2015 Market Analysis Review

GBP/USD is still trapped sideways above the 200 SMA in the H1 chart. A pullback could happen at current levels because the cable is likely to make an attempt to perform a breakout below the support zone of 1.5205 with a target at the level of 1.5142. However, if a rebound takes place at the current stage the pair can try a rally until the resistance level of 1.5296. The MACD indicator is at the positive territory now.

H1 chart's resistance levels: 1.5296 / 1.5365

H1 chart's support levels: 1.5205 / 1.5142

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 found at 1.5205, take profit is at 1.5142, and stop loss is at 1.5270.

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