Technical analysis of EUR/USD for December 23, 2015 Market Analysis Review

When the European market opens, economic news on the Italian Retail Sales m/m and French Consumer Spending m/m will be released.The US will also unveil data on the Crude Oil Inventories, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, New Home Sales, Personal Income m/m, Personal Spending m/m, Durable Goods Orders m/m, Core PCE Price Index m/m, and Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1004.

Strong Resistance:1.0998.

Original Resistance: 1.0987.

Inner Sell Area: 1.0976.

Target Inner Area: 1.0951.

Inner Buy Area: 1.0926.

Original Support: 1.0915.

Strong Support: 1.0904.

Breakout SELL Level: 1.0898.

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 23, 2015 Market Analysis Review

In Asia, Japan will not release any economic data, but the US will publish news on the Crude Oil Inventories, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, New Home Sales, Personal Income m/m, Personal Spending m/m, Durable Goods Orders m/m, Core PCE Price Index m/m, and Core Durable Goods Orders m/m. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session and with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.63.

Resistance. 2: 121.39.

Resistance. 1: 121.16.

Support. 1: 120.87.

Support. 2: 120.63.

Support. 3: 120.39.

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 23, 2015 Market Analysis Review

The USDX had a bearish trend during Tuesday's session, after a decline below the 200 SMA on the H1 chart. Currently, the support zone is placed around the 98.14 level, where a rebound can happen towards the resistance level of 98.66. However, we should prefer to stay sideways, as the Index is trapped inside a very volatile territory. The MACD indicator remains positive.

H1 chart's resistance levels: 98.66 / 99.19

H1 chart's support levels: 98.14 / 97.16

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 98.66, take profit is at 99.19, and stop loss is at 98.14.

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Daily analysis of GBP/USD for December 23, 2015 Market Analysis Review

On the H1 chart, we should note a decline towards the support level of 1.4802, after bears were controling the situation during Tuesday's session. By the way, we can expect a rebound until the resistance level of 1.4852 is a part of the corrective moves. It also should be noted that the 200 SMA on this timeframe is slightly bearish.

H1 chart's resistance levels: 1.4852 / 1.4918

H1 chart's support levels: 1.4802 / 1.4731

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 at 1.4802, take profit is at 1.4731, and stop loss is at 1.4873.

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NZD/USD intraday technical levels and trading recommendations for December 22, 2015 Market Analysis Review

The daily chart shows a bullish Flag pattern that was initiated around the level of 0.6230 on September 23.

On November 30, a bullish engulfing candlestick was expressed around 0.6520 where the depicted uptrend came to meet the NZD/USD pair.

Shortly after, a bullish breakout above 0.6600 (the upper limit of the flag pattern) took place. This enhanced the bullish side of the market towards 0.6800 initially.

A temporary bearish rejection was expected around 0.6750 and 0.6840 (daily resistance levels) in the daily chart. Actually, an earlier bearish rejection was expressed two weeks ago on Friday.

On the other hand, an estimated projection target for this flag pattern will remain at 0.6950 only if the NZD/USD pair manages to keep trading above 0.6750 and 0.6840.

Last Tuesday, an obvious bullish breakout above 0.6600 was made via a full-body bullish candlestick in the H4 chart.

Shortly after, the NZD/CAD pair faced resistance between 0.6700 and 0.6750 providing evident bearish rejection.

For the NZD/USD conservative traders, a valid buy entry was suggested around 0.6600 (corresponding to the depicted uptrend and the upper limit of the broken consolidation range).

The level of 0.6840 remains a significant resistance level to offer a valid Intraday sell entry.

However, previous bearish fixation below 0.6750 opened the way towards 1.6700 where the depicted uptrend line came to meet the NZD/USD pair.

A valid buy entry was suggested around the level of 0.6700 (the depicted uptrend line as well as a recent support level). It's already running in profits now.

S/L should be updated to 0.6770 to secure some of the achieved profits. T/P levels are projected towards 0.6840 and 0.6900.

On the other hand, a valid sell entry can be offered around 0.6840 if enough bearish rejection is expressed.

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USD/CAD intraday technical levels and trading recommendations for December 22, 2015 Market Analysis Review

Overview:

A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was executed on July 15 (shown on the weekly chart). The long-term bullish target was projected towards the level of 1.3270.

Significant bearish rejection has been observed around 1.3450. Since then, another consolidation range was established between 1.2800 and 1.3400.

Few weeks ago, a bearish breakout below the support level of 1.3075 was needed to allow the further bearish decline towards 1.2900. However, an evident bullish rejection was expressed around this level.

A bullish breakout above 1.3400 (the upper limit of the recent consolidation range) was performed on December 7.

Daily fixation above 1.3400 enhances the bullish side of the market.

A bullish visit towards the next resistance level of 1.4100 (Fibonacci Expansion 100%) should be expected.

Significant bearish rejection and a valid sell entry should be expected around this price level.

On the other hand, the price zone around 1.3370-1.3400 remains a significant support zone to be watched for valid buy entries if a bullish pullback occurs soon.

Trading recommendations:

Conservative traders should wait for the USD/CAD pair to retrace towards the zone of 1.3380-1.3400 looking for a low-risk buy entry. S/L should be placed below 1.3300.

Initial T/P levels should be placed at 1.3500 and 1.3600. The long-term bullish target is projected towards 1.4100.

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Intraday technical levels and trading recommendations for GBP/USD for December 22, 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.

A long-term bearish target is projected towards the level of 1.4800 for this reversal pattern.

The previous demand level of 1.5200 (the origin of a previous bullish engulfing weekly candlestick) was broken to the downside a month ago. This bearish tendency was confirmed by the Shooting Star and the bearish engulfing weekly candlesticks of the previous weeks.

Hence, a quick bearish decline towards the weekly demand level of 1.4950 was expected as a result of the bearish breakdown below 1.5200.

Note that the previous weekly closure below 1.4950 clears the way towards 1.4800 (long-term bearish target).

On the other hand, a bullish closure again above 1.4950 brings another bullish pullback towards 1.5350.

Recently, the key level of 1.5200 was temporarily breached to the upside before a daily bearish engulfing candlestick was expressed around 1.5330 on November 20.

Bearish persistence below 1.5200 and then 1.5050 (previous weekly bottom) enhanced a further bearish decline towards the weekly demand level of 1.4950 (corresponding to the lower limit of the depicted channel).

A bullish engulfing daily candlestick was expressed around 1.4950 earlier this month on December 3.

A bullish pullback towards 1.5200-1.5230 was expressed as the GBP/USD pair managed to hold above 1.5000 and 1.5100.

Last week, a significant bearish rejection was expressed around 1.5230. Many bearish engulfing daily candlesticks were already expressed. The level of 1.4950 is the key level to be watched for new sell entries if bullish pullback occurs.

Price zone of 1.4800-1.4830 (the lower limit of the depicted channel) should be watched for valid buy entries.

Trading Recommendation:

Risky traders can sell the GBP/USD pair at retesting of the broken demand level at 1.4950. S/L should be set as a daily closure above 1.4960.

Initial bearish target would be located at 1.4850 where the lower limit of the depicted channel is located.

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Intraday technical levels and trading recommendations for EUR/USD for December 22, 2015 Market Analysis Review

Previously, 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 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, next monthly candlesticks (August, September, October and November) reflected strong bearish rejection, which existed around the level of 1.1450.

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

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

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

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

Three weeks ago, daily persistence below the level of 1.0700 (key level) ensured enough bearish momentum towards 1.0550 (prominent monthly low) where the recent bullish pullback was initiated.

This week, the level of 1.1000 constitutes a significant supply level to offer a valid sell entry. A Head and Shoulders reversal pattern is being established around the depicted supply level. S/L should be located at 1.1075. Initial T/P levels should be located at 1.0900 and 1.0810.

An obvious bearish closure below 1.0820 (the depicted key level) is needed to allow more bearish decline towards 1.0730 and 1.0550 again.

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Technical analysis of GBP/JPY for December 22 , 2015 Market Analysis Review

GBP/JPY is capped by a negative trend line. The pair remains under pressure below its negative trend line. Both the 20-period and 50-period simple moving averages are clearly turning down. Furthermore, the relative strength index lacks upward momentum. At the current stage, the prices seem more likely to test the nearest support at 179.25 (the previous low). The risk is a slide below this threshold, which would trigger a bearish acceleration toward 178.50.

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 179.25. A break of that target will move the pair further downwards to 178.50. The pivot point stands at 180.60. 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 181.20 and the second target at 182.10.

Resistance levels: 181.20 182.10 183

Support levels: 179.25 178.50 178

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Daily analysis of Silver for December 22, 2015 Market Analysis Review

Overview

Silver price closed yesterday trading above the bearish channel's resistance that appears in the image, while the price could not surpass the critical resistance barrier at 14.25, which keeps the chances valid for resuming the main bearish trend, especially that stochastic shows clear negative signals on the four-hour time frame. Thus, we keep preferring the overall bearish trend that targets 13.50 then 13.00 initially, unless witnessing a clear breach and a daily close above 14.25 level. Silver price didn't show any strong move since morning, to keep fluctuating near 14.25, therefore, there is no change on the bearish trend scenario that depends on the stability of the daily close below the mentioned level, reminding you that our next targets are at 13.50 then 13.00.

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Daily analysis of GBP/JPY for December 22, 2015 Market Analysis Review

Overview

The breach of 180.36 suggests that a decline from 195.86 is resuming. The intraday bias stays on the downside for the next support level of 174.86. A break will indicate a larger trend reversal. On the upside, above 182.12, the minor resistance will turn bias neutral and bring consolidations first. This is supported by the bearish divergence condition in weekly MACD. Besides, GBP/JPY was close to the key cluster resistance of 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to the 200 psychological level. A break of 174.86 will confirm trend reversal and bring deeper fall to 38.2% retracement of 116.83 to 195.86 at 165.67. In case of another rise, we can expect strong resistance from 199.80/200.00 to bring reversal.

Daily Pivots: (S1) 179.83; (P) 180.52; (R1) 181.10;

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Technical analysis of USD/JPY for December 22, 2015 Market Analysis Review

USD/JPY is expected to trade with bearish bias.Overnight, the US stock indices closed higher with an end-of-session rally. Rising shares were noted in the semiconductor, food & staples retailing, and consumer services sectors. The Dow Jones Industrial Average gained 0.7% to 17251, the S&P 500 rose 0.8% to 2021, and the Nasdaq Composite was up 0.9% at 4968.

Nymex crude oil edged up 1 cent to settle at $34.74 a barrel, gold gained 1.2% to $1,078 an ounce, while the benchmark 10-year US Treasury yield declined to 2.196% from 2.215% last Friday.

The US dollar remained on the defensive as EUR/USD gained another 0.4% to 1.0912, AUD/USD climbed 0.3% to 0.7187, and NZD/USD was up 0.5% to 0.6757. Meanwhile, the dollar stayed weak against the yen with USD/JPY at 121.15, and strong against the Canadian dollar with USD/CAD at 1.3957. The pair posted a rebound after dipping as low as 120.82 overnight. However, the pair remains under pressure while being capped by the 50-period (30-minute chart) moving average. The 20-period moving average has crossed below the 50-period one. The rebound is losing momentum, and once it ends, the pair is expected to decline toward the first downside target at 120.85 (a price base seen on December 15) and the second one at 120.55 (the low of December 15). Only a break above the key resistance at 121.75 would turn the intraday outlook bullish.

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 120.50. A break of that target will move the pair further downwards to 120.15. The pivot point stands at 121.50 . 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 121.75 and the second target at 122.15.

Resistance levels: 121.75 122.15 122.55

Support levels: 120.50 120.15 119.65

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Technical analysis of USD/CHF for December 22, 2015 Market Analysis Review

USD/CHF is expected to trade with bearish bias as key resistance is at 0.9940. The pair managed to hold above its nearest key support at 0.9830, and it is likely to post some technical rebounds. The relative strength index turned up and jumped above its neutrality area at 50. The resistance base at 0.9940 should prevent any upward attempts. Thus, as long as the resistance level is at 0.9840, the pair is more likely to post further downward movement to 0.9830, and 0.9790 (the high of December 17).

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 0.9990 and the second target at 1.0015. In the alternative scenario, short positions are recommended with the first target at 0.99 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 0.9875. The pivot point is at 0.9925.

Resistance levels: 0.9970 0.9990 1.0015

Support levels: 0.9830 0.9795 0.9750

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Technical analysis of NZD/USD for December 22, 2015 Market Analysis Review

NZD/USD is expected to trade above 0.6765. The pair extended its gains after the validation of an intraday "bullish flag" pattern. The 20-period and 50-period moving averages are heading upwards, and they will continue to push the prices higher. The relative strength index bounced off its neutrality area at 50, showing strong upward momentum. Hence, as long as 0.6765 is not broken, there is a possibility of further advance to 0.6865 and 0.69 (the high of December 16).

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, it is recommended to open long positions with the first target at 0.6865 and the second target at 0.69. In the alternative scenario, it is recommended to open short positions with the first target at 0.6740, 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 0.6710. The pivot point is at 0.6765.

Resistance levels: 0.6865, 0.69, 0.6950

Support levels: 0.6740, 0.6710, 0.6660

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Technical analysis of S&P500 for December 22, 2015 Market Analysis Review

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Gold: analysis for December 22 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading sideways around the price of $1,078.00. In the daily time frame, I found a strong demand bar, which is a sign that selling looks risky. The trend is downward in the mid- and long terms. In the 4H-time frame, we can observe successful breakout of strong trendline and broken 200 SMA which gave us a sign that we may see further upside. The first resistance is seen at the level of $1,088.70. Key price action resistance is around the price of $1,100.00.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,080.50

R2: 1,083.20

R3: 1,087.50

Support levels:

S1: 1,071.90

S2: 1,069.22

S3: 1,064.90

Trading recommendations: Watch for potential buying opportunites, selling looks risky.

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EUR/NZD : analysis for December 22, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5965 in an average volume. In the daily time frame, I found a supply bar. In the H4 time frame, I found a strong head-and-shoulders formation confirmed (a broken neckline). Price also broke again our 200 SMA. Be careful when buying EUR/NZD at this stage since lower prices are expected. I have placed Fibonacci expansion to find potential support levels. I got Fibonacci expansion 61.8% at the level of 1.6070 (broken), Fibonacci expansion 100% is at the level of 1.5840 and Fibonacci expansion 161.8% is seen at the level of 1.5470.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6165

R2: 1.6190

R3: 1.6230

Support levels:

S1: 1.6085

S2: 1.6060

S3: 1.6020

Trading recommendations : Buying EUR/NZD looks very risky at this stage since the price confirmed a head-and-shoulders formation. Watch for potential selling opportunities.

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Global macro overview for 22/12/2015 Market Analysis Review

Global macro overview for 22/12/2015:

The bunch of important data from the US will be released today at 01:30pm GMT with the most important GDP figures for third quarter. The GDP is expected to decrease slightly to the level of 1.9% from 2.1% in the last quarter (2.0% vs. 2.2% on y/y basis). The GDP price index should remain on the same level of - 1.3%. After the recent rate hike from the US Fed, this will be the second important fundamental event this week as it will justify the recent Fed hike and reveal more data about the US economic conditions. If the GDP gets worse significantly, the further Fed hikes might be rather hard to justify.

The US Dollar Index has failed to break back above the golden channel upper line and now is trading just above the important support at the level of 98.33.

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Global macro overview for 22/12/2015 Market Analysis Review

Global macro overview for 22/12/2015:

In yesterday's Monthly Reports released by Bundesbank, the European Central Bank member and Bundesbank President Jens Weidmann pointed out that a possible economic recovery in the eurozone might increase next year, but it still might not be enough to lower notably the unemployment. Moreover, he remainded that the eurozone countries should further consolidate their budgets given their high debt levels which is becoming high to manage. Nevertheless, the eurozone main challenge will be to ensure prosperity and security as the levels of real GDP in the beginning of 2016, that will barely return to growth rates of early 2008.

The EUR/USD pair is trading quietly in the middle of the range after a failure to break out above the technical resistance at the level of 1.0923.

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Technical analysis of USD/CAD for December 22, 2015 Market Analysis Review

General overview for 22/12/2015 09:10 CET

The market did not confirm the top at the level of 1.4000 yet and any breakout below the level of 1.3847 will be a top conformation. Further development in corrective wave 4 black is anticipated with a potential target at the level of 1.3677.

Support/Resistance:

1.4100 - WR1

1.4000 - Intraday Resistance

1.3888 - Weekly Pivot

1.3847 - Intraday Support

1.3776 - WS1

Trading recommendations:

Day traders should consider placing sell orders from current market levels with SL above the level of 1.4000 and TP at the level of 1.3847.

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Technical analysis of EUR/JPY for December 22, 2015 Market Analysis Review

General overview for 22/12/2015 09:00 CET

The recent upswing looks quite corrective and the whole structure can evolve into a more complex corrective cycle. Any kind of a breakout higher above the level of 132.45 might lead to more gains in this pair as the wave XX brown might develop. Please notice the invalidation line or the whole structure is seen at the level of 129.65.

Support/Resistance:

134.82 - WR2

134.57 - Swing High

133.11 - WR1

132.45 - Intraday Resistance

132.06 - Weekly Pivot

131.04 - Intraday Support

130.68 - WS1

129.65 - Invalidation Level

Trading recommendations:

Day traders should consider placing sell orders from current market levels with SL above the level of 132.45 and TP at the level of 131.20.

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