GBP/USD intraday technical levels and trading recommendations for November 27, 2015 Market Analysis Review

Overview:

Strong bullish pressure was applied at the resistance level of 1.5800 via the previous 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 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.

Note that bearish persistence below the level of 1.5200 was needed for a further bearish decline towards the level of 1.4950 (prominent weekly support). Instead, a bullish breakout above 1.5200 has been expressed on the previous Tuesday.

Bullish fixation above the price zone of 1.5200-1.5250 allowed a bullish movement towards 1.5330 where the upper limit of the depicted channel put the GBP/USD pair under significant bearish pressure.

This week, bearish persistence below 1.5030 (important key level) is needed to allow bearish decline towards 1.4950 (previous weekly bottom).

On the other hand, a stronger support level is located at 1.4850 (the lower limit of the depicted movement channel). This is where a low-risk buy entry can be offered to conservative traders.

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USD/CAD intraday technical levels and trading recommendations for November 27, 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 Fibonacci level, which was previously breached to the upside on September 23 and recently on November 12.

Significant bearish rejection has been observed around 1.3450 (141.4% Fibonacci Expansion).

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

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

Another bullish visit to the level of 1.3270 (FE 100%) was initiated on November 4. A bullish breakout above 1.3300 was performed again on November 13.

Since then, the USD/CAD pair has been moving sideways (ranging between 1.3300 and 1.3430).

Daily persistence above 1.3300 exposes the next resistance level at 1.3450 (Fibonacci Expansion 141.0%) where a valid sell entry can be offered.

On the other hand, bearish breakdown below 1.3300 (FE 100%) is needed to enhance the bearish side of the market again.

Trading recommendations:

Conservative traders should wait for an obvious bearish closure below 1.3250 (FE 100%) to sell the USD/CAD pair.

S/L should be placed above 1.3370.

Initial T/P levels should be placed at 1.3150 and 1.3080.

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Intraday technical levels and trading recommendations for GBP/USD for November 27, 2015 Market Analysis Review

A 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 supported the bearish side of the market in the long term. An approximate 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 two weeks ago. This bearish tendency was confirmed by the Shooting Star bearish weekly candlestick of the previous week.

A quick bearish decline towards the weekly demand level at 1.4950 remains expected as long as the bearish breakdown below 1.5200 persists on a weekly basis.

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

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

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

The demand levels of 1.5350 and 1.5200 were broken down a few weeks ago. Currently, these levels constitute prominent supply to be watched for new sell entries.

The key level of 1.5200 was temporarily breached to the upside last week until a daily bearish engulfing candlestick was expressed around 1.5330 on last Friday.

Note that bearish persistence below 1.5200 and 1.5050 (previous weekly bottom) enhances further bearish decline towards the weekly demand level at 1.4960.

Trading Recommendation:

Risky traders were advised to sell the GBP/USD pair anywhere around 1.5350. S/L can be lowered to 1.5150 to secure our profits.

For conservative traders, a low-risk buy entry will probably be offered around the weekly demand levels of 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.

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Intraday technical levels and trading recommendations for EUR/USD for November 27, 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 have previously 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 a strong bearish rejection, which took place at the level of 1.1450.

Hence, in the long term, a projected target is still seen at 0.9450 if a bearish breakout of the monthly demand level at 1.0555 occurs before the end of the this month.

On August 24, the market looked overbought as bulls were pushing the pair further above 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, which were already reached.

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

Two weeks ago, 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 1.0700 (key level) ensures enough bearish momentum towards 1.0650 and 1.0550 (prominent monthly low) where price actions should be watched.

A daily breakdown of the monthly demand level (1.0550) is needed to expose next bearish target levels at 1.0460 then 1.0300.

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Daily analysis of Silver for November 27, 2015 Market Analysis Review

Overview

Silver price crawls gradually to the downside to approach from 13.96 level. We are waiting for a break of the mentioned level to open the way towards 13.50 followed by 13.00. Therefore, we will continue suggesting the bearish trend on an intraday and short-term bases supported by the EMA50, unless breaching the 14.85 level and holding above it. The silver price has begun today's trading with slight bearish bias in attempt to approach the key support at 13.96. A break of it represents the key to head towards 13.50 followed by the 13.00 levels on a near-term basis.

In general, we will keep our overall bearish overview as long as the price is below the 14.85 level, noting that stochastic offers negative signals that we are waiting to form a negative motive that supports breaking the above-mentioned support line.

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Daily analysis of GBP/JPY for November 27, 2015 Market Analysis Review

Overview

A breakout at the support of 185/98 argues that the consolidation pattern from 180.36 was completed at 188.79. An intraday bias turned back to the downside in order to test the support zone of 180.36/64. At the moment, an outlook is likely to stay bearish as long as 188.79 resistance holds even in case of recovery. A breakout of the medium-term trend line support is taken as a sign of trend reversal. This is supported by bearish divergence condition in the weekly MACD. Also, GBP/JPY was close to key cluster resistance of 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to the psychological level of 200. The break of 174.86 will confirm trend reversal and bring a deeper fall to 38.2% retracement of 116.83 to 195.86 at 165.67. In case of another rise, we'll be cautious on strong resistance from 199.80/200.00 to bring reversal.

Daily Pivots: (S1) 185.25; (P) 186.11; (R1) 186.58;

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Technical analysis of AUD/USD for November 27, 2015 Market Analysis Review

Technical outlook and chart setups:

The AUD/USD pair seems is heading towards 0.7350 and 0.7400. The pair is trading around the level of 0.7200, which is also the Fibonacci 0.618 support of the recent rally between 0.7160 and 0.7280. It is hence recommended to initiate long positions with risk below the level of 0.7160. Immediate support is seen at 0.7160 followed by 0.7060 and 0.7020, while resistance is seen at 0.7280 (interim) and higher. Bulls are expected to remain in control until prices stay broadly above the level of 0.7060.

Trading recommendations:

Initiate long positions with stop at 0.7140, a target is at 0.7400.

Good luck!

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Technical analysis of US Dollar Index for September 27, 2015 Market Analysis Review

Technical outlook and chart setups:

The US dollar index seems to be testing its previous resistance around 100.20 now. No doubt that the index has been following its support trend line till now but the bearish divergences seen on multiple timeframes(not shown) cannot not be ignored. A drop below the trend-line support could trigger a bearish counter-trend drop, which can result in reaching the levels of 97.80 and 96.00 as well. It is hence recommended to remain flat for now and watch for a break below 99.30. An aggressive trade setup is to initiate short positions with risk above 100.20. Immediate support is seen at 100.20 followed by 98.74 and lower, while resistance is seen at the level of 100.20 (interim) and higher respectively.

Trading recommendations:

Remain flat now or follow the aggressive setup scenario, which implies initiating short positions with stops at 100.40, a target is open.

Good luck!

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Technical analysis of NZD/USD for November 27, 2015 Market Analysis Review

Technical outlook and chart setups:

The NZD/USD pair retraced lower from highs of 0.6598 printed yesterday. Please note that the pair is finding support at a the Fibonacci 0.382 level of the previous swing between 0.6420 and 0.6600. Also, the interim trend-line support is seen to be passing close to the current price action around 0.6530. It is hence recommended to initiate long positions with risk below the level of 0.6500. Immediate support is seen at 0.6500 followed by 0.6400 and lower, while resistance is seen at 0.6598 (interim) and higher.

Trading recommendations:

Initiate long positions with stop at 0.6500, a target is at 0.6715.

Good luck!

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Technical analysis of EUR/USD for November 27, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/USD pair is seen to be trading lower around 1.0583 at the moment, but be aware of the bullish divergences (not shown) on the chart setups. Bears might be surprised and the pair may hit the 1.0690 levels followed by 1.0763. It is recommended to remain flat and let the first resistance break at the 1.0690 levels before planning to go long. Aggressive traders might want to initiate 50% long positions with risk around the 1.0530 levels. Immediate support is seen at the 1.0565 levels (interim), while resistance is seen at the 1.0690 levels and higher.

Trading recommendations:

1. Conservative setup is to remain flat for now.

2. Aggressive setup is to go long, stop is at 1.0530, target is open.

Good luck!

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EUR/NZD : analysis for November 27, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6232. The short-term trend is still downward. The major 22-day trading range (re-distribution) support at the level of 1.6150 was finally broken. In the H4 time frame, our strong support area between the levels of 1.6150 and 1.6240 now became strong resistance. Watch for potential selling opportunities. The support level is found at 1.6085. If the price breaks the level of 1.6085 in a high volume, it will confirm the further downward continuation and potential testing of the level at 1.5730.

According to the Wyckoff research i wrote major points:

SC - Selling climax

AR - Automatic rally

ST - Secondary test

UT - Up thrust

UTAD - Up thrust after distribution

LPSY - Last point of supply

SOW - Sign of weakness

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6175

R2: 1.6195

R3: 1.6235

Support levels:

S1: 1.6100

S2: 1.6080

S3: 1.6045

Trading recommendations : Intraday selling opportunities are preferable. The first support level is found at 1.6085. According to the daily time frame, the profit level is seen at 1.5720.

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Gold : analysis for November 27 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading downwards. As I had expected, the price tested the level of $1,066.68. In the daily time frame, I found a supply bar and rejection from the SMA10. Our strong support around the levels of $1,075.00-$1,080.00 has become strong resistance (changing polarity) now. In the M30 time frame, our diagonal trend line got broken today, so watch for intraday selling opportunities. I also spoted strong rejection from Fibonacci retracement 50% at the level of $1,074.00. Intraday support is found at $1,065.00. Next strong daily support is seen around the level of $1,046.00. The breakout in a high volume ($1,065.00) will confirm the further downside continuation.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,073.30

R2: 1,074.50

R3: 1,076.50

Support levels:

S1: 1,069.50

S2: 1,068.30

S3: 1,066.40

Trading recommendations: Be careful when buying gold since I saw a breakout of the diagonal trend line. Watch for potential selling opportunities.

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Global macro overview for 27/11/2015 Market Analysis Review

Global macro overview for 27/11/2015:

The private capital expenditure in Australia sharply decreased in the third quarter, mainly due to renewed weakness in mining investment. As the Australia Bureau of Statistics said, the Private Capex index decreased by 9.2% q/q (seasonally adjusted), posting the sharpest decline in more than 15 years. The market expected a little milder decline of 2.8% q/q in the reported period. Reserve Bank of Australia Governor Glenn Stevens admitted that the slowdown in mining investment is only about half way through its cycle, and he did not expect any immediate recovery in non-mining investment ahead for Australia.

The AUD/USD pair is trading below the important market resistance at the level of 0.7296. The next support is seen at the level of 0.7158.

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Global macro overview for 27/11/2015 Market Analysis Review

Global macro overview for 27/11/2015:

The release of the UK GDP in the third quarter first reading is scheduled for 10:30 am GMT today. Economists expect the indicator to remain unchanged at 0.5% (2.3% y/y). Due to the slow economic growth in the eurozone, which is one of the UK strategic trading partner, the economy might face a strong headwinds. Maybe this is why recent remarks from Marc Carney were so different compared to the earlier statements regarding the rate hike at the turn of the year. Moreover, the euro is depressed as the ECB is ready to ease its monetary policy further at the December meeting. This explains why the Bank of England is in no rush to raise interest rates anymore.

The GBP/USD pair is trading just above the important technical support at the level of 1.5053. Any breakout lower will directly expose the next support at the level of 1.5026 to test.

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Technical analysis of USD/CAD for November 27, 2015 Market Analysis Review

General overview for 27/11/2015 09:20 CET:

After the Thanksgiving day in the US, the financial markets are open again. This is why the situation did not change much since yesterday. The golden trend line is still providing a dynamic resistance as the market is struggling for breaking above it. The key level of 1.3333 has not been broken yet as well, but there is still one more wave to the upside missed to complete the main count.

Support/Resistance:

1.3278 - WS1

1.3323 - Weekly Pivot

1.3343 - Intraday Resistance

1.3403 - WR1

1.3433 - Technical Resistance

Trading recommendations:

Day traders should consider reopening buy orders from the level of 1.3345 with tight SL and TP at the level of 1.3380.

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Technical analysis of EUR/JPY for November 27, 2015 Market Analysis Review

General overview for 27/11/2015 09:20 CET:

Markets are slowly resuming trading after the Thanksgiving day in the US. This is why the current situation did not change much since yesterday. The ending diagonal pattern probably needs only one sub-wave lower to complete. The target is still seen at the level of 129.50, but the bullish divergence between the price and momentum indicator supports the rebound scenario.

Support/Resistance:

129.48 - WS2

129.76 - Intraday Support

129.96 - WS1

130.47 - Intraday Resistance

130.78 - Intraday Resistance

Trading recommendations:

Day traders should wait for the TP at the level of 129.50 to be hit.

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Daily analysis of major pairs for November 27, 2015 Market Analysis Review

EUR/USD: Based on the price action in the market, it is not currently rational to seek long trades here – though the market looks oversold. The support line at 1.0550 will become a next target for bears if the price moves further southwards. The price has not moved seriously this week, but a breakout is imminent.

USD/CHF: After testing the resistance level of 1.0200, this pair succeeded in holding above it. A bullish bias is intact and it would hold as long as the price is above the support level of 1.0150. Only a very strong selling pressure can take the price below the support level (something that currently does not exist in the market).

GBP/USD: Based on what has happened so far this week, the outlook for the GBP/USD pair is strongly bearish. There is a Bearish Confirmation Pattern in the chart; and since the EMA 11 is below the EMA 56 (while the RSI period 14 is below the level of 50), it looks rational to expect further southward journey in the market.

USD/JPY: The USD/JPY pair only moved sideways on Thursday owing to weak trading activity. The price is now consolidating, and in case this continues for the next few trading days, the bias on the market would turn neutral.

EUR/JPY: This currency trading instrument has moved downwards by 80 pips so far this week, resting in the demand zone of 130.00. There is a strong probability that the demand zone would be breached to the downside as the price goes towards another demand zone of 129.50. This currency trading instrument would be weak as long as the euro is weak.

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USDX technical analysis for November 27, 2015 Market Analysis Review

The US dollar index is testing the short-term support level, and as I mentioned in previous posts, bulls should be very cautious as a correction towards 97.50 is very possible before the next leg up.

Blue lines - bullish channel

Red lines - bearish divergence signs

The US dollar index is testing the lower channel boundary at 99.70.99.60. A four-hour close below 99.50 will open the way to a deeper correction at least towards the Ichimoku cloud support at 99.20. However, the main target remains at 97.50.

The stochastic oscillator is overbought for far too long and a downward movement is hugely justified at current levels, so bulls should consider taking profits. This does not mean that a bullish trend is over. The bullish trend will be in danger only if the price breaks below 93.80.The material has been provided by InstaForex Company - www.instaforex.com

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Gold technical analysis for November 27, 2015 Market Analysis Review

Gold remains weak testing the recent lows. There are increased chances that we may see the area of $1,040-50 visited before a bounce, but this not be taken for granted as a decline is not as steep and hard as one would expect in case of a breakout at $1,077. Now is the time to focus on the bigger picture. A short-term trend is bearish, but a big bounce will come soon.

Black line - resistance

Green line - support

Gold price remains below the 4-hour Ichimoku cloud. The price is trapped inside a triangle pattern. Although earlier today we saw the support level being broken, there was no accelerated selling or additional pressure to push prices lows. It seems that everyone is short and there are not many people who want to sell. If I was a bear I would be very skeptical with gold price not pushing lower.

Red lines - bullish wedge

On the other hand, I would focus on the medium- to long-term as there are signs that gold might be heading a long-term low at current levels. Reaching new lows may be needed to complete the decline from $1,190, but I believe a strong bounce towards at least $1,120-30 will follow if not a longer-term trend change.

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Technical analysis of GBP/CHF for November 27, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is trading around 1.5430/40 now, after reaching highs at 1.5500 yesterday. As depicted here on the H4 chart, prices can drop lower towards 1.5370, which is also Fibonacci 0.618 support of the rally between 1.5290 and 1.5500. It is recommended to initiate fresh long positions around the level of 1.5350/70 on a bullish bounce with risk at 1.5280. Immediate support is found at 1,5400 (interim) followed by 1.5300, 1.5200, and lower, while resistance is seen at 1.5570 (interim) and higher. Bulls should regain control until prices stay above the level of 1.5290.

Trading recommendations:

Initiate long positions starting from 1.5350/70 with stop at 1.5280, a target is open.

Good luck!

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