Elliott wave analysis of EUR/NZD for January 11, 2016 Market Analysis Review

Wave summary:

Our count continues to work perfectly and we have already seen resistance at 1.6748 tested, but not yet broken clearly. However, it should just be a matter of time before the break above the resistance at 1.6748 is seen for a continuation higher towards 1.7133 as the next major upside target.

In the short term, we will ideally see support at 1.6526 protect the downside for the next rally above 1.6748 for the rally towards 1.7133.

Trading recommendation:

We are long EUR from 1.5810 and we will move our stop higher to 1.6235. If you are not long EUR yet, then buy near 1.6526 and use the same stop at 1.6235.

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 January 11, 2016 . Thanks for your support.

Elliott wave analysis of EUR/JPY for January 11, 2016 Market Analysis Review

Wave summary:

Our call for red wave (iv) being in place at 129.08 has worked perfectly. We are now looking for the final decline in red wave (v) towards 125.45, that will end wave [iii] and set the stage for a correction in wave [iv] and to just below the 129.08 high.

For now, we should remain focused towards the downside and the termination of red wave (v) closer to 125.45. We will ideally see minor resistance at 128.47 protect the upside for a break below minor support at 127.62 for the continuation lower to 126.05 and then 125.45.

Trading recommendation:

We are short EUR from 130.95 and will move our stop lower to 129.10. If you are not short EUR yet, then sell near 128.47 with you stop placed at 128.47.

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 January 11, 2016 . Thanks for your support.

Technical analysis of EUR/USD for January 11, 2016 Market Analysis Review

When the European market opens, some economic news will be released such as Sentix Investor Confidence. The US will also release the economic data, the Labor Market Conditions Index m/m. So amid the reports, EUR/USD will move with low to medium volatility today.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0990.

Strong Resistance:1.0984.

Original Resistance: 1.0973.

Inner Sell Area: 1.0962.

Target Inner Area: 1.0937.

Inner Buy Area: 1.0912.

Original Support: 1.0901.

Strong Support: 1.0890.

Breakout SELL Level: 1.0884.

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 January 11, 2016 . Thanks for your support.

Technical analysis of USD/JPY for Januari 11, 2016 Market Analysis Review

In Asia, Japan will not release any economic data today, but the US will report on the Labor Market Conditions Index, m/m.So there is a strong probability that the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 117.83.

Resistance. 2: 117.60.

Resistance. 1: 117.37.

Support. 1: 117.09.

Support. 2: 116.86.

Support. 3: 116.63.

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 Januari 11, 2016 . Thanks for your support.

Daily analysis of major pairs for January 11, 2016 Market Analysis Review

EUR/USD: This market went down from Monday to Wednesday. The pair went upwards from Thursday till the close of the market on Friday. This week would see what shall happen to the market, but the bearish bias would not be over unless the price goes above the resistance line at 1.1000, which is a formidable line.

USD/CHF: This pair experienced mixed signals last week. From Monday till Wednesday, the price went upwards, reaching the resistance level at 1.0100. However the price started coming down from Thursday, which is now a threat to the recent bullish effort. The Bullish Confirmation Pattern would hold as long as the price does not go below the support level at 0.9850.

GBP/USD: The cable went down by additional 220 pips last week. Since December 14, 2015, the price has come down by 700 pips, which is something that favors trend following a great deal. Any rallies in the market should be seen as opportunities to sell short, because it is much more likely that the bearish trend would continue.

USD/JPY: The USD/JPY pair moved southward last week by roughly 200 pips. The price made several attempts to break the demand level at 117.50 to the downside, but with no success. The price still shows the determination to go further south, which may eventually enable it to go below the demand level at 117.50.

EUR/JPY: This cross nosedived by 350 pips last week, testing the demand zone at 127.00. From that demand zone, the price bounced upwards by 200 pips, reaching the supply level at 129.00. On Friday, the price came down a bit, in the context of a downtrend. The bearish bias is valid and the upward bounce of 200 pips we saw might be another opportunity to sell short at a better price.

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 January 11, 2016 . Thanks for your support.

Daily analysis of USDX for January 11, 2016 Market Analysis Review

The short-term outlook is still calling for a possible resume of bullish bias in the USDX, because during last session, the Index did a failed breakout at the 200 SMA to the upside on the H1 chart, but it remains supported by the level of 98.39. A rebound at current levels will open the door to test the 99.00 psychological level. The MACD indicator remains at negative territory.

H1 chart's resistance levels: 98.39 / 98.79

H1 chart's support levels: 98.10 / 97.82

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 98.39, take profit is at 98.79, and stop loss is at 97.99.

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 January 11, 2016 . Thanks for your support.

Daily analysis of GBP/USD for January 11, 2016 Market Analysis Review

GBP/USD continues to strength its bearish bias at the H1 timeframe, expecting consolidation below the resistance level of 1.4555. That's why we're putting a target close to the support level of 1.4464 in a short-term perspective, as a breakout below will expose the Cable to test 1.4373 in coming days. The MACD indicator is at negative territory.

H1 chart's resistance levels: 1.4555 / 1.4608

H1 chart's support levels: 1.4464 / 1.4373

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 1.4464, take profit is at 1.4373, and stop loss is at 1.4555.

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 January 11, 2016 . Thanks for your support.