Technical analysis of EUR/JPY for December 01, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair has been holding and testing lows at 129.65. It has bounced off higher towards 130.15 levels at the moment. The pair seems to be setup for a counter-trend rally soon. It is recommended to remain long with risk around the level of 129.30. Bulls should be poised to push prices higher towards at least 134.00 until 129.60 remains intact. Immediate support is seen at 129.65 followed by 129.30 and lower, while resistance is seen at 131.00 followed by 132.20 and higher .

Trading recommendations:

Remain long with stop is at 129.00, a target is open.

Good luck!

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Technical analysis of Gold for December 01, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold has rallied to the level of $1,075.00 during the day and is expected to take out resistance at $1,080.00 as well, after a dip fall at $1,066.00. The metal is testing its immediate line of resistance as seen on the chart, and a breakout here will be the first sign of a potential reversal. It would be then confirmed that the metal has formed an interim low at $1,052.00. Immediate support is seen at the level of $1,052.00 followed by $1,030.00 and lower, while resistance is seen at $1,080.00 followed by $1,090.00 and higher. Please note that prices could head towards $1,040.00 in the near term.

Trading recommendations:

Initiate long positions now with stop at $1,048.00, a target is open.

Good luck!

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Technical analysis of Silver for December 01, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver holds $13.93 now trading around the level of $14.19. A trend still can change from current levels due to the divergence seen in both metals last week. Bulls should be poised to push prices towards $15.00 until Silver stays above $13.93. It is hence recommended to initiate long positions with risk at $13.70. Immediate support is seen at $13.93 followed by $13.00 and lower, while resistance is seen at $14.45 followed by $15.10/15 and higher. Only a breakout below $13.93 would delay matters further and the metal may drop to $13.00.

Trading recommendations:

Initiate long positions with stop at $13.70, a target is at $15.00

Good luck!

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Daily analysis of major pairs for December 1, 2015 Market Analysis Review

EUR/USD: The EUR/USD merely consolidated to the downside in the context of a downtrend. The support line at 1.0550 would be tested soon and it could even be breached to the downside. The support line at 1.0500 is thus the potential target for the week.

USD/CHF: Since going above the big support level at 1.0000, this pair has moved upwards by 300 pips, testing the resistance level at 1.0300. One good method for dealing with this pair is to buy on dips in the context of an uptrend (which is happening right now), since the outlook for USD remains bullish. A further bullish journey is possible.

GBP/USD: The cable simply performed a shallow upward bounce on Monday, while the outlook remains bearish. Yes, it is highly possible that the current bearish bias would be sustained, because the outlook on GBP/USD (including GBP pairs) is gloomy for December 2015. The price is likely to drop further by 150 pips minimum.

USD/JPY: The USD/JPY pair has now moved above the demand level of 123.00. There is a highly probability that the price would reach the supply level of 123.50; and in case this happens, the bullish signal would have become stronger in the market. Further bullish movement is expected in the market.

EUR/JPY: Yesterday, there was not much activity on this cross. There is still a clear Bearish Confirmation Pattern in the market, as long as the EUR is weak. Any rallies that are witnessed in this market would merely signal short-selling opportunities. Unless the JPY loses strength significantly, long trades are not rational.

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Elliott wave analysis of EUR/NZD for December 1, 2015 Market Analysis Review

Wave summary:

We have finally seen an expected test of our target at 1.5898 (the low has been 1.5899), and we will look for a breakout above minor resistance at 1.6066 now as the first indication that a correction from 1.9114 has finally come to an end. However, a break above resistance at 1.6239 will be needed to confirm that an important low has been seen.

There is a risk that resistance at 1.6239 is able to protect the upside for more downside pressure towards 1.5688 and maybe even lower to 1.5478. This is not our preferred outlook, but we need to consider this possibility.

Trading recommendation:

We bought EUR at 1.5925 and will place our stop at 1.5850. If you are not long EUR yet, then buy on a breakout above minor resistance at 1.6066 and place you stop just below the most recent low.

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Elliott wave analysis of EUR/JPY for December 1, 2015 Market Analysis Review

Wave summary:

We continue to look for a correction in wave [iv] towards 132.50 before the final decline in wave [v] lower to 127.60 to end wave iii. That said we will like to warn that a break above 133.22 will question this count. The decline from a high of 141.06 in early June has been quite messy and very hard to read.

In the short term, a break above minor resistance at 130.30 will be the first indication that wave [iv] is developing, while a breakout above resistance at 130.76 will confirm wave [iv].

Trading recommendation:

We are long EUR from 130.08 with stop placed at 129.08. If you are not long EUR yet, then buy EUR upon a break above 130.30 and place your stop just below the most recent low.

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Technical analysis of USD/JPY for December 01, 2015 Market Analysis Review

The USD/JPY pair is expected to trade with a bearish bias as the key resistance is seen at 123.15. Overnight, the US stock indices closed lower, dragged by declining health-care and consumer staples shares. The Dow Jones Industrial Average fell 0.4% to 17719, the S&P 500 dropped 0.5% to 2080, while the Nasdaq Composite was down by 0.4% to 5108. Nymex crude oil edged down 0.1% to $41.65 a barrel, gold rebounded 0.5% to $1,064 an ounce, and the benchmark 10-year Treasury yield remained stable at 2.220%.

Meanwhile, the US dollar consolidated after last Friday's gains. The AUD/USD pair gained 0.5% to 0.7226, NZD/USD was up by 0.8% to 0.6580, and USD/CHF declined 0.2% to 1.0286. On the other hand, EUR/USD declined 0.3% to 1.0563 and USD/JPY was up by 0.2% to 123.08. The pair posted a technical rebound last night, but remains under pressure below its nearest resistance at 1.5070, which should maintain selling pressure. The intraday relative strength index is close to its horizontal resistance at 70, and seems to be losing its upward momentum. Therefore, the upward potential is likely to be limited by the resistance at 123.15. Below this threshold, look for a new pullback to 122.50 and 122.25 (the low of November 30).

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 122.50. A break of that target will move the pair further downwards to 122.25. The pivot point stands at 123.15. 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 123.35 and the second target at 123.60.

Resistance levels: 123.35 123.60 124

Support levels: 122.50 122.25 122

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Technical analysis of USD/CHF for December 01, 2015 Market Analysis Review

The USD/CHF pair is expected to trade with a bullish bias above 1.0260. The pair stands firmly above its support base around 1.0245, which has already been tested for two times. It allows for a temporary stabilization. The intraday relative strength index is bouncing off the "oversold" area of 30 showing bullish momentum. To sum up, as long as 1.0260 holds on the downside, expect further advance to 1.0330 and 1.0370.

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 1.0330 and the second target at 1.0370. In the alternative scenario, short positions are recommended with the first target at 1.0220 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 1.0195. The pivot point is at 1.0260.

Resistance levels: 1.0330 1.0370 1.0410

Support levels: 1..0220 1.0195 1.0170

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Technical analysis of GBP/JPY for December 01, 2015 Market Analysis Review

GBP/JPY is expected to trade with a bullish bias. The pair posted a rebound overnight after falling as low as 184.25. The 20-period moving average has moved above the 50-period one, while the relative strength index is staying above the neutrality level of 50 calling for further advance. The pair is therefore expected to reach the first upside target at 186 (around yesterday's high) before approaching the second one at 186.30 (a resistance seen on November 25).

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 186 and the second target at 186.30. In the alternative scenario, short positions are recommended with the first target at 184.25 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 183.85. The pivot point is at 184.80.

Resistance levels: 186 186.30 187

Support levels: 184.25 183.85 183

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Technical analysis of NZD/USD for December 01, 2015 Market Analysis Review

NZD/USD is expeced to trade with a bullish bias. Currently trading at 0.6622, the pair is still in an uptrend, but is approaching its key resistance at 0.6645 (around the high of November 26). A test should take place before any further advance. The 20-period and 50-period moving averages are still heading upwards without showing any reversal signal. Besides, the relative strength index is positive calling for a new rise. Hence, above 0.6565 look for 0.6645 and 0.6670 as our targets.

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 0.6645 and the second target at 0.6670. In the alternative scenario, short positions are recommended with the first target at 0.6540 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 0.6510. The pivot point is at 0.6565.

Resistance levels: 0.6645 0.6670 0.6715

Support levels: 0.6540 0.6510 0.6490

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Technical analysis of EUR/USD for December 01, 2015 Market Analysis Review

When the European market opens, economic news on the Unemployment Rate, Italian Quarterly Unemployment Rate, Italian Monthly Unemployment Rate, Final Manufacturing PMI, German Final Manufacturing PMI, German Unemployment Change, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI is due to be released. The US will unveil data on the Total Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0619.

Strong Resistance:1.0612.

Original Resistance: 1.0602.

Inner Sell Area: 1.0592.

Target Inner Area: 1.0567.

Inner Buy Area: 1.0542.

Original Support: 1.0532.

Strong Support: 1.0522.

Breakout SELL Level: 1.0515.

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 December 01, 2015 Market Analysis Review

In Asia, Japan will release data on the 10-y Bond Auction, Final Manufacturing PMI, and Capital Spending q/y. The US will publish economic data on the Total Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. 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: 123.60.

Resistance. 2: 123.36.

Resistance. 1: 123.12.

Support. 1: 122.82.

Support. 2: 122.58.

Support. 3: 122.34.

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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Daily analysis of USDX for December 01, 2015 Market Analysis Review

The index has been moving sideways, but it still favors the bullish bias in the short-term. The resistance zone of 100.24 is still a very strong hurdle for the overall trend and a breakout higher will perform a bullish consolidation on the USDX, which can last in the short and medium- terms. The 200 SMA is slightly bullish and the MACD indicator remains at the negative territory.

H1 chart's resistance levels: 100.24 / 101.01

H1 chart's support levels: 99.80 / 99.25

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks with a bullish candlestick; the resistance level is seen at 100.24, take profit is at 101.01, and stop loss is at 99.48.

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Daily analysis of GBP/USD for December 01, 2015 Market Analysis Review

On the H1 chart, GBP/USD found a temporary bottom around the psychological level of 1.5000. The current structure could be calling for more rallies towards the level of 1.5100, which is very close to the SMA 200 in this time frame. After that test, we should expect a pullback towards new lows, and the pair can start to strengthen. The MACD indicator remains at the positive territory.

H1 chart's resistance levels: 1.5062 / 1.5100

H1 chart's support levels: 1.5031 / 1.4982

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 1.5031, take profit is at 1.4982, and stop loss is at 1.5080.

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Daily analysis of Silver for November 30, 2015 Market Analysis Review

Overview

The silver price shows some slight bullish bias approaching the EMA50, while stochastic continues losing its positive momentum gradually approaching the overbought areas. It supports the chances of bouncing bearishly to resume the main bearish trend. Therefore, our bearish overview will remain valid for the rest of the day conditioned by holding below the 14.85 level, reminding you that our next targets begin at 13.50 followed by 13.00. The silver price made a new test of the 13.96 level without breaking it. it means stochastic loses its positive momentum gradually, while the EMA50 keeps pushing negatively on intraday and short-term trading.

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Daily analysis of GBP/JPY for November 30, 2015 Market Analysis Review

Overview

The current development indicates that the consolidation pattern from 180.36 has been completed at 188.79. A deeper fall is expected for a test of the 180.36/64 support zone. For the moment, the outlook will stay bearish as long as the 188.79 resistance holds even in case of recovery. In the longer-term picture, the uptrend from the 116.83 long-term bottom could be topping. There is no confirmation yet, but even is case of another rise, strong resistance is likely to be seen near the 61.8% retracement of 251.09 to 116.83 at 199.80.

Daily Pivots: (S1) 184.14; (P) 184.72; (R1) 185.20

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USD/CAD intraday technical levels and trading recommendations for November 30, 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 30, 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 three weeks ago. This bearish tendency was confirmed by the Shooting Star bearish weekly candlestick of a 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 before until a daily bearish engulfing candlestick was expressed around 1.5330 on November 20.

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 30, 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 this month (November).

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.

Last week, daily persistence below the level of 1.0700 (key level) ensured enough bearish momentum towards 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 as initial targets for the long-term bearish breakout mentioned above.

On the other hand, bullish fixation above 1.0550 brings the EUR/USD pair again towards 1.0700 (key level).

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Technical analysis of AUD/USD for November 30, 2015 Market Analysis Review

Technical outlook and chart setups:

The AUD/USD pair has picked up from its Fibonacci 50% support of the rally between 0.7070 and 0.7280, at the 0.7170 levels as seen here. It is quite possible that the retracement is complete and that prices could rally towards fresh highs. But recommendations are to initiate long positions around the 0.7150 levels, considering the risk/reward ratio. Besides, note that 0.7150 is the Fibonacci 0.618 support and the past resistance turned into support come in there. Immediate support is seen at the 0.7160 levels, followed by 0.7070, while resistance is seen at the 0.7280 levels.

Trading recommendations:

Remain flat for now, look to go long around the 0.7150 levels.

Good luck!

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Technical analysis of NZD/USD for November 30, 2015 Market Analysis Review

Technical outlook and chart setups:

The NZD/USD pair picked up from the expected price levels around 0.6530 on Friday. Today the pair has made an intraday high at the 0.6580 levels and is pulling back again before the rally could resume. Please note that the bullish bounce has come at a trend-line support and also the Fibonacci 0.786 support of the rally between 0.6500 and 0.6600 levels earlier. It is hence recommended to remain long with risk around the 0.6500 levels for now. Immediate support is seen at the 0.6510 levels (interim), while resistance is at 0.6600. Please note that a push above the 0.6600 levels would accelerate towards the 0.6715 levels.

Trading recommendations:

Remain long, stop is at 0.6500, target is 0.6700

Good luck!

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Technical analysis of US dollar Index for November 30, 2015 Market Analysis Review

Technical outlook and chart setups:

The US dollar index was pushed higher to the level of100.30 before pulling back lower. The index is trading at 100.16 now, we expect it to drop lower and break the immediate trend-line support and the level of 99.65 subsequently. We need to see a breakout below 99.65 to confirm a short on rally trade setup going ahead. It is therefore recommended to remain flat now. Immediate support is seen at 99.65 followed by 99.30 and lower, while resistance is seen at 100.30 and higher.

Trading recommendations:

Remain flat looking for an opportunity to go short.

Good luck!

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Technical analysis of EUR/USD for November 30, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/USD pair dropped lower to the level of 1.0560 during the day before pulling back towards 1.0585. There is no doubt that pair remains vulnerable to bears, but it is too late to initiate fresh short positions here. Moreover, a bullish divergence seen in the higher time frames (not shown), indicates that a turn is near. We need to see a breakout above at least 1.0640 before turning bullish, and trade with confidence. It is hence recommended to remain flat now. Immediate support is seen at 1.0550, while resistance is seen at 1.0640.

Trading recommendations:

Remain flat looking for an opportunity to initiate long positions.

Good luck!

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Technical analysis of GBP/CHF for November 30, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is seen to be trading around the 1.5470 levels for now, might be looking to drop lower to the 1.5370/80 levels before resuming its rally. Bulls are expected to remain in control until the 1.5280 levels remain intact. The rally from 1.5280 to 1.5525 levels is expected to retrace lower to its Fibonacci 0.618 levels at 1.5380, before it resumes towards new highs. It is hence recommended to remain flat for now and look to buy at lower levels. Immediate support is seen at the 1.5380 levels followed by 1.5280, while resistance is seen at the 1.5570 levels.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of EUR/USD for November 30, 2015 Market Analysis Review

Trading recommendations:

• The market has been moving between 1.0615 and 1.0543. Consequently, we expect the following scenarios:
• First outlook: buy (buy limit) above 1.0543 with the first target at 1.0666, it might resume towards the first resistance at 1.0615 in order to test the weekly pivot point;
• Second outlook: look for further downside with the targets at 1.0563 and 1.0540 targets below the level of 1.0615. Also, it should be noted that the new double bottom will set at the level of 1.0543.

Notes:

• Stop loss should never exceed your maximum exposure amounts.
• We expect a new weekly range about 249 pips.
• Risk of 166 pips must make profit of 249 (a risk to reward ratio of 1:1.5 is recommended)
• As a rule, the market is highly volatile if the previous day had huge volatility.
• Volatility: 85.50, therefore the market indicates the higher volatility.

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Technical analysis of EUR/JPY for November 30 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair dropped lower to the 129.60/70 levels before pulling back sharply again above the 130.00 levels on Friday. The pair produced a doji/pin bar candlestick pattern on Friday and might follow it up with a bullish morning star today. The pair is trading at the 130.15/16 levels for now, just near a trend line resistance. A break above and subsequent rally at the 131.00 levels are now required to induce confidence on the long side. It is recommended to remain flat for now and wait for further evidence to go long. Immediate support is seen at the 129.66 levels, while resistance is seen at the 131.00 levels.

Trading recommendations:

Flat for now, watching to go long after a break of 131.00.

Good luck!

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Technical analysis of Gold for November 30 2015 Market Analysis Review

Technical outlook and chart setups:

Gold had broken below the cone consolidation last week and dropped to print fresh lows at the $1,052.00 levels, beyond our expectations. The metal is trading close to its multi-year resistance turned into support area around $1,030.00 now. As depicted here, resistance is seen at the $1,080.00 levels and immediate support could be close to the $1,030.00 levels. It is hence recommended to remain flat for now as it is too late to go short and might be still early to enter buying. Bears are still in control for now until the $1,080.00 level remains intact.

Trading recommendations:

Remain flat for now.

Good luck!

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Technical analysis of Silver for November 30, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver is seen to be trading at the $14.11 levels for now, holding above its recent lows at $13.93. The metal has just went towards $14.40 levels last week before dropping, and the level of $13.93 holds well. A bullish reversal could be possible soon. It is recommended to remain flat for now until enough proof is seen. Immediate support is seen at the $13.93 levels, while resistance is seen at the $14.80/90 levels. Bullish divergence is seen in larger time frames, indicating that a potential turn around could be near.

Trading recommendations:

Remain flat for now.

Good luck!

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Global macro overview for 30/11/2015 Market Analysis Review

Global macro overview for 30/11/2015:

Crude prices have been decreasing for much of the year as a supply glut, geopolitical developments around the world and strong dollar continue to keep the black gold under the pressure. Energy companies have been steadily cutting costs, projects, and jobs to cope with falling revenues as a result of lower oil prices. The OPEC meeting press release is scheduled for Friday and commodity traders will be looking forward for this meeting as there might be a slight change in the overall OPEC policy towards crude prices. Remember that if we take into the account the last week's remarks of the Saudi Arabian minister for petroleum and mineral resources about Saudi Arabian readiness to cooperate with other oil producers to stabilize the market, the OPEC meeting news might be even more important.

From a technical point of view, the crude oil is trading just below the important technical resistance at the level of 43.44. Any breakout higher would directly expose the level of 45.11 for a test. The support is seen at the level of 41.67 and 40.39.

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Technical analysis of GBP/USD for November 30, 2015 Market Analysis Review

Weekly technical analysis of GBP/USD:

Overview:

• The market of the GBP/USD pair was steady because the trend has been moving only downwards for a while. The major resistances have been placed at the levels of 1.5085 and 1.5053. As a result, the GBP/USD pair might start showing signs of a bearish market at the level of 1.5085, which represents the weekly pivot point. In other words, it will be a good sign to sell below the price of 1.5085 with the first target of 1.4975 in order to test the weekly resistance 1. Moreover, if the pair breaks the first support 1.5085, the market will indicate a bearish opportunity at the spot of 1.4975. Then, it will call for the downtrend to continue with its bearish movements towards 1.4943 to form a new double bottom on the H1 chart. Thus, the level of 1.4943 will act as support this week. So, it is providing a clear signal for buy deals with the target seen at 1.4975 for correction. On the other hand, the stop loss should be placed above the weekly pivot point (1.5085).

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Gold analysis for November 30 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading downwards. As I had expected, the price tested the level of $1,052.56. 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, we can observe low activity (low volume) and I found intraday trading range between the price of $1,061.20 and the price of $1,052.65. Next strong daily support is seen around the level of $1,046.00.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,057.35

R2: 1,057.75

R3: 1,058.50

Support levels:

S1: 1,056.05

S2: 1,055.65

S3: 1,055.00

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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EUR/NZD analysis for November 30, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.6112. The short-term trend is downward. The major 22-day trading range (re-distribution) support at the level of 1.6150 was broken last week. In the H4 time frame, our strong resistance at the level of 1.6240 successfully held. Watch for potential selling opportunities. The first 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: 1.6230

R2: 1.6260

R3: 1.6310

Support levels:

S1: 1.6140

S2: 1.6110

S3: 1.6065

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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Global macro overview for 30/11/2015 Market Analysis Review

Global macro overview for 30/11/2015:

An important set of news scheduled for release in the coming week might cause more volatility in the forex market as the beginning of December will bring plenty of economic data and monetary policy statements. Australia, Canada, and Europe will issue rate statements, and the US is expected to release the NFP report on Friday together with the Organization of the Petroleum Exporting Countries (OPEC) press conference. The most important data from the eurozone will come on Thursday, December 3, when the ECB announces the rate statement at 1:45 pm GMT. The NFP report will be released on Friday, December 4, at 2:30 pm GMT.

The EUR/USD pair had been under pressure all last week as the market still expects that ECB will deliver rate cut/QE extension on its meeting in Thursday. Any failure to convince the market on the commitment of the central bank could result in a reversal and appreciation of the single currency. The support is seen at the level of 1.0565 and next resistance is seen at the level of 1.0604.

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USDX technical analysis for November 30, 2015 Market Analysis Review

The US dollar index is grinding higher and higher but the momentum is declining. The US dollar index should make a downward corrective move soon before the next FOMC meeting. This is not the time to be long on the dollar. First we need to see a pullback.

Blue lines - bullish channel

Red lines - bearish divergence

The US dollar index remains in a bullish trend as the price is still above the Ichimoku cloud and inside the bullish channel. Support is found at 99.60-99.40. Red lines show how the stochastic is not following the index to new highs. This is a bearish divergence sign.

Blue lines - bearish wedge

In the daily chart, we observe a bearish wedge formation as the daily stochastic is still at overbought levels. This is not the time to be bullish the US dollar index. This is the time to take profits and raise protective stops for long positions.

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Gold technical analysis for November 30, 2015 Market Analysis Review

On Friday, gold price broke the triangle formation we mentioned last week and moved closer to our target area of $1,050-40. Gold is oversold sending bullish divergence signals and a bounce towards at least $1,105 is expected.

Red lines - triangle broken downwards

Blue line - bullish divergence

Gold price remains below the Ichimoku cloud in the 4-hour chart. Triangles usually precede the last move of a trend. Stochastics have not reached a new low as the price did and this provides a bullish divergence. Gold price is expected to bounce towards at least $1,105 where the 38% Fibonacci retracement is observed.

Yellow line - long-term resistance

Red lines - bullish wedge

The weekly chart shows us how the price has approached the lower wedge boundaries. Stochastic is also at oversold levels. Each time stochastic reaches these levels in the weekly chart, a strong bounce follows. That is why I'm saying that this is not the time to be short or sell gold.

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