Technical analysis of GBP/USD for December 14, 2015 Market Analysis Review

After a volatile downtrend started on June 18, 2015, it seems that the GBP/USD pair found support in the area around 1.49. In overall, the trend is still bearish, but it looks like the pair is in a correctional phase now that should send the price higher.

The 23.6% Fibonacci retracement level was broken and then rejected. Exactly the same happened to the downtrend trend line as it was broken and then rejected, which might results in a continuation of the correctional move up.

Currently, S1(1.5140) acts as important support level, which the GBP/USD pair could retest once again. If that happens, consider buying the cable in the area of S1, targeting R1 (1.5290) resistance area, which is 38.2% Fibonacci retracement level.

Support: 1.5140

Resistance: 1.5290

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 GBP/USD for December 14, 2015 . Thanks for your support.

Technical analysis of EUR/GBP for December 14, 2015 Market Analysis Review

As per my previous forecast, EUR/GBP is expected to trigger the sell signal and I think the price will move lower. This might not be a fast decline but rather slow and consistent one.

After the downtrend channel and 38.2% Fibonacci were rejected, the price could consolidate for a couple of days, but in overall it seems very reasonable to expect a downtrend in the mid-term.

Consider selling EUR/GBP on small pullbacks with the stop loss well above R2 targeting potential double bottom near the S4 (0.6940) area.

Support: 0.7210, 0.7145, 0.7060

Resistance: 0.7280, 0.7360

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 EUR/GBP for December 14, 2015 . Thanks for your support.

Daily analysis of major pairs for December 14, 2015 Market Analysis Review

EUR/USD: The bullish breakout, which took place on December 3, 2015, has been sustained so far. This means that the breakout was not false one. The price moved upwards last week closing just below the resistance line at 1.1000, which is an important price area. With ongoing buying pressure in the market, the price could go above the resistance line this week. One thing should be noted, we may witness some weakness in the EUR/USD pair before the end of this month.

USD/CHF: The USD/CHF pair traded further downwards last week. Within the last two weeks, the price has come down by over 460 pips suggesting further southward attempts. This is possible because the USD/CHF pair faces two challenges: the euro is strong and the Swiss franc could potentially rally before the Christmas Eve. Nonetheless, the USD might rally against other currencies.

GBP/USD: From Monday to Tuesday last week, the cable was trending downwards. However, it was trending upwards from Tuesday to Friday closing above the accumulation territory at 1.5200. An upward movement of 250 pips has enabled a Bullish Confirmation Pattern to form in the market since last Tuesday. The distribution territories of 1.5250 and 1.5300 are potential targets for bulls, though that does not rule out the chances for pullbacks to occur in the market.

USD/JPY: After the pair has almost reached the supply level at 123.50, this currency trading instrument pulled backed in an intensive manner (a movement of 250 pips). This has led to a "sell" signal in the market, though the outlook for JPY pairs remains bullish for December 2015. Until that bullish outlook materializes, the current "sell" signal should be respected.

EUR/JPY: The EUR/JPY pair had consolidated in the first few trading days of the previous week, and then traded lower. The lower movement was shallow because the extant bias remains bullish. There is a possibility that the price would continue trading lower, which may threaten the bullish bias. The only thing that can change this is when the yen loses its stamina.

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 Daily analysis of major pairs for December 14, 2015 . Thanks for your support.

Elliott wave analysis of EUR/NZD for December 14, 2015 Market Analysis Review

Wave summary:

Wave [ii] ended at 1.6144 as we expected and we can see a nice rally unfolding. We can even observe a breakout above minor resistance at 1.6368 adding confidence in our call for a bottom for a bottom at 1.6144 and a new impulsive rally towards the ares above resistance at 1.6749 for a continuation to 1.7191 and maybe even higher to 1.7896 in wave iii.

In the short term, we will ideally see minor support at 1.6265 protecting the downside for a breakout above 1.6390 and more importantly above resistance at 1.6446 for the next rally higher towards 1.6749 and higher.

Trading recommendation:

We missed an entry point at 1.6150 by 4 small pips. Our second entry at 1.6245 was hit that is why we should raise our stop to 1.6210. If you are not long EUR yet, buy near 1.6265 or upon a breakout above 1.6390 and use the same stop at 1.6210.

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 Elliott wave analysis of EUR/NZD for December 14, 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for December 14, 2015 Market Analysis Review

Wave summary:

EUR/JPY failed to break out minor resistance of 134.00, which kept a corrective decline in wave alive for a deeper correction. The next corrective target is the 50% corrective target of wave a at 132.11 with the 61.8% corrective target located at 131.52.

In the short term, the corrective decline will proceed closer to 132.11 and possibly lower to 131.52 as long as resistance at 133.72 stays intact. Only a break above resistance at 133.72 will indicate a new rally higher towards 136.69 as the correction is over and.

Trading recommendation:

Our stop at 132.70 was hit for a small loss. We will re-buy EUR at 131.60 or upon a breakout above 133.72. One order cancels the other.

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 Elliott wave analysis of EUR/JPY for December 14, 2015 . Thanks for your support.

Technical analysis of EUR/USD for December 14, 2015 Market Analysis Review

When the European market opens, economic news on the ECB President Draghi Speaks and Industrial Production m/m is due to be released today.The US will not publish any economic data. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1034.

Strong Resistance:1.1028.

Original Resistance: 1.1017.

Inner Sell Area: 1.1006.

Target Inner Area: 1.0981.

Inner Buy Area: 1.0956.

Original Support: 1.0945.

Strong Support: 1.0934.

Breakout SELL Level: 1.0928.

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 EUR/USD for December 14, 2015 . Thanks for your support.

Technical analysis of USD/JPY for December 14, 2015 Market Analysis Review

In Asia, Japan will release data on the Tertiary Industry Activity m/m, Revised Industrial Production m/m, Tankan Non-Manufacturing Index, and Tankan Manufacturing Index. The US will not release any economic data today. So, there is a strong probability that the USD/JPY pair will move with low volatility during this day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.46.

Resistance. 2: 121.22.

Resistance. 1: 120.99.

Support. 1: 120.70.

Support. 2: 120.46.

Support. 3: 120.22.

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 December 14, 2015 . Thanks for your support.

Daily analysis of USDX for December 14, 2015 Market Analysis Review

On the H1 chart, the USDX is trying to find strong bottom around the level of 97.60, as the index will try another bullish breath towards the zone of the 200 SMA. However, any breakout below the level of 97.60 will expose the USDX to test the level of 97.01 on a short-term basis. A consolidation below it will push the index in late December.

H1 chart's resistance levels: 98.14 / 98.80

H1 chart's support levels: 97.60 / 97.01

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX breaks with a bearish candlestick; the support level is found at 97.60, take profit is at 97.01, and stop loss is at 98.21.

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 Daily analysis of USDX for December 14, 2015 . Thanks for your support.

Daily analysis of GBP/USD for December 14, 2015 Market Analysis Review

The GBP/USD pair is forming a higher high pattern above the support level of 1.5181, after a bullish consolidation performed above the 200 SMA on the H1 chart. However, the pair is trying to do some consolidation moves in a slow bias, so we should be aware of any deeper pullbacks that could make this pair to test the support level of 1.5122. The MACD indicator is at the positive territory.

H1 chart's resistance levels: 1.5238 / 1.5302

H1 chart's support levels: 1.5181 / 1.5122

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is seen at 1.5238, take profit is at 1.5302, and stop loss is at 1.5178.

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 Daily analysis of GBP/USD for December 14, 2015 . Thanks for your support.