Elliott wave analysis of EUR/NZD for January 13 - 2016 Market Analysis Review

Wave summary:

The correction from 1.6841 is likely to be over with the test of 1.6370. We will now be looking for a break above 1.6714 and of course more importantly a break above 1.6841 confirming upside acceleration towards 1.7205 and likely even higher to 1.7641.

In the longer term, we continue to look for much higher levels and ultimately a break above 1.9114 for a continuation higher to 1.9844.

Trading recommendation:

We are long EUR from 1.5810 with our stop placed at 1.6235. If you are not long EUR yet, then buy a break above 1.6647 and place your stop at 1.6360.

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 13 - 2016 . Thanks for your support.

Elliott wave analysis of EUR/JPY for January 13 - 2016 Market Analysis Review

Wave summary:

Overall we continue to look for more downside pressure towards 126.05 and below to 125.45 as the next downside targets. As long as minor resistance at 128.47 protects the upside, we are looking for a direct break below minor support at 127.64 for a new test of 126.76 on the way lower to 126.05.

If however, minor resistance at 128.47 is broken, that will prolong the correction in red wave (iv) for a rally to 129.48 before going lower again.

Trading recommendation:

We are short EUR from 130.95 and will move our stop lower to 128.55. If you are not short EUR yet, then sell close to 128.20 and use the same stop at 128.55.

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 13 - 2016 . Thanks for your support.

Technical analysis of EUR/USD for Januari 13, 2016 Market Analysis Review

When the European market opens, some economic news will be released such as German 10-y Bond Auction, Industrial Production m/m, and French CPI m/m. The US will release a series of economic data too such as Federal Budget Balance, Beige Book, 10-y Bond Auction, and Crude Oil Inventories. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0889.

Strong Resistance:1.0883.

Original Resistance: 1.0872.

Inner Sell Area: 1.0861.

Target Inner Area: 1.0836.

Inner Buy Area: 1.0811.

Original Support: 1.0800.

Strong Support: 1.0789.

Breakout SELL Level: 1.0783.

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 Januari 13, 2016 . Thanks for your support.

Technical analysis of USD/JPY for Januari 13, 2016 Market Analysis Review

In Asia, Japan will release the M2 Money Stock y/y. Besides, the US will release some important reports, in particular a monthly budget statement for December. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 118.80.

Resistance. 2: 118.57.

Resistance. 1: 118.34.

Support. 1: 118.05.

Support. 2: 117.82.

Support. 3: 117.59.

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 13, 2016 . Thanks for your support.

Daily analysis of major pairs for January 13, 2016 Market Analysis Review

EUR/USD: The EUR/USD pair moved sideways on Tuesday with nothing significant. 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: By all indication, it is still possible that this currency pair would go further upwards. The EMA 11 is above the EMA 56, while the Williams' % Range period 20 is in the overbought region. Unless the CHF experiences lots of stamina, the USD/CHF pair could be seen making further bullish effort from here.

GBP/USD: Based on yesterday's forecast, the GBP/USD pair was able to test the accumulation territory at 1.4400. The price briefly went below that accumulation territory before bouncing upwards. The price action in this market reveals that such upward bounces should be taken as opportunities to go short, since the market could assume a further southward journey.

USD/JPY: This currency trading instrument, which moved southwards last week, still shows the tendency to move further south this week. Although it is still unclear if the pair will make a significant movement this week, 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 simply consolidated yesterday in the context of a bearish outlook. The Bearish Confirmation Pattern in the market is valid, and the price could test the demand zone at 127.00. The price could even breach that demand zone to the downside.

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 13, 2016 . Thanks for your support.

Daily analysis of USDX for January 13th, 2016 Market Analysis Review

At the H1 chart, the USDX is forming a higher high pattern below the resistance level of 99.22, as we're expecting more upside moves in the coming days. We should note that the support zone of 98.79 could be strong in a short-term basis, because it's in the 200 SMA price zone. This scenario should be invalidated when the Index breaks the 98.39 level.

H1 chart's resistance levels: 99.22 / 99.49

H1 chart's support levels: 98.79 / 98.39

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 99.22, take profit is at 99.49, and stop loss is at 98.94.

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 13th, 2016 . Thanks for your support.

Daily analysis of GBP/USD for January 13th, 2016 Market Analysis Review

GBP/USD is doing a rebound above the support level of 1.4373, as the declines are still working fine on the overall pair's structure. The 200 SMA at the H1 chart is very bearish and it is supporting the downside idea in a short-term basis at least. However, if Cable achieves in break above 1.4464, then, we can expect a rally towards the 1.4555 level. The MACD indicator is in positive territory.

H1 chart's resistance levels: 1.4464 / 1.4555

H1 chart's support levels: 1.4373 / 1.4309

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 1.4373, take profit is at 1.4309, and stop loss is at 1.4437.

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 13th, 2016 . Thanks for your support.

Daily analysis of Silver for January 12, 2016 Market Analysis Review

Overview

Silver traded negatively yesterday approaching the sideways range support line, located at 13.65 and accompanied by positive signals that appear on stochastic. It might push the price to test the mentioned range's resistance in the upcoming sessions, which is located at 14.25. In general, the metal is expected to trade sideways until it manages to breach one of the above mentioned levels, reminding you that breaking 13.65 support will push the price to test 13.00 barrier directly, while breaching 14.25 level will push the price to achieve some intraday gains, its main targets begins at 15.30. Silver price didn't show any strong move since morning, to keep fluctuating below the EMA50, while the price remains confined between the sideways range's lines that represented by 13.65 support and 14.25 resistance, waiting to breach one of them to detect the next targets clearly.

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 Silver for January 12, 2016 . Thanks for your support.

Daily analysis of GBP/JPY for January 12, 2016 Market Analysis Review

Overview

An intraday bias in GBP/JPY remains on the downside for next long-term fibonacci level at 165.67. On the upside, above 173.35 minor resistance will turn into a neutral bias and bring consolidation first. But recovery should be limited below the 180.36 support turned into resistance and brought a fall reversal. The current development confirmed medium-term topping at 195.86 on a bearish divergence condition in weekly MACD. A fall from 195.86 is currently viewed as a correction and would first target 38.2% retracement of 116.83 to 195.86 at 165.67. We'd assess the depth of correction based on reactions to 165.67 and the structure of the decline. A break of 180.36 will bring rebound but we'd expect strong resistance to bring 195.86 to limit the upside and bring another fall to extend the correction pattern.

Daily Pivots: (S1) 169.60; (P) 170.94; (R1) 172.56;

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/JPY for January 12, 2016 . Thanks for your support.

NZD/USD intraday technical levels and trading recommendations for January 12, 2016 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.

As anticipated, temporary bearish rejection existed around the price level of 0.6840 (daily resistance level) similar to what happened previously on December 16.

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

On the other hand, a daily closure below 0.6750 invalidated the depicted uptrend, allowing a quick bearish decline initially towards the price level of 0.6600 which was broken-down as well.

Price level of 0.6500 remains a significant Support level for the pair where a new bullish swing towards 0.6600 and 0.6700 may be initiated.

Two weeks ago, lack of enough bullish pressure was seen above 0.6800. That is why, the current bearish decline is pushing the pair even below the depicted support levels at 0.6700 and 0.6600.

However, an evident bearish breakdown of the depicted uptrend line occurred shortly after. This invalidated the previous bullish scenario allowing a quick bearish decline to occur towards the prominent support level of 0.6600.

Bearish decline went further below 0.6600 extending towards 0.6500 which corresponds to the lower limit of a previous consolidation range. Early signs of bullish recovery are manifested on the chart.

Bullish fixation above 0.6600 is needed to pursue towards higher bullish targets at 0.6700 and 0.6750 where price action should be watched carefully.

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 NZD/USD intraday technical levels and trading recommendations for January 12, 2016 . Thanks for your support.

USD/CAD intraday technical levels and trading recommendations for January 12, 2016 Market Analysis Review

Overview:

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

A significant bearish rejection was 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 enable a 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 enhanced the bullish side of the market.

A bullish visit towards the next resistance level of 1.4150 (Fibonacci Expansion 100%) was expected to take place. Hence, a valid sell entry should be expected around this level which is being tested again this week.

Note that a bullish daily closure above 1.4150 enhances the bullish side of the market towards 1.4600 where 141.4% Fibonacci expansion is located

On the other hand, the price zone of 1.3370-1.3400 remains a significant support zone to be watched for a valid buy entries if a bearish correction occurs.

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.

The initial T/P levels should be placed at 1.3500 and 1.3600. The long-term bullish target is projected towards 1.4140.

On the other hand, risky traders can have a counter-trend sell position around 1.4150 (Fibonacci Expansion 100%) if enough bearish rejection is expressed (bearish engulfing candlestick closure below 1.4100).

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 USD/CAD intraday technical levels and trading recommendations for January 12, 2016 . Thanks for your support.

Intraday technical levels and trading recommendations for GBP/USD for January 12, 2016 Market Analysis Review

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 provided significant bearish 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 quick bearish decline towards the previous weekly level at 1.4950 was expected as a result of the bearish breakdown below 1.5200.

Weekly fixation below 1.4950 exposed the way towards 1.4620 which was broken down last week as well.

Moreover, the previous weekly candlestick closed below the depicted demand level at 1.4620. Hence, a quick bearish decline towards the next demand level (1.4360) should be expected.

On the other hand, a bullish closure above 1.4610 brings bullish strength into the market. The first bullish target would be located at 1.4950.

During 2015, significant bearish rejection was expressed around 1.5770 and 1.5230 where a bearish Head and Shoulders reversal pattern was established. Since then, the market has been trending down within the depicted bearish channel.

The price level of 1.4950 was broken to the downside few weeks ago, constituting a significant supply level. As anticipated, it offered a valid sell entry on December 24.

Daily persistence below 1.4800 (the lower limit of the current bearish channel) allowed further bearish decline towards 1.4680 and 1.4610 where previous prominent bottoms are located on the GBP/USD daily chart.

The GBP/USD pair now looks oversold as it is being pushed further below the lower limit of the depicted bearish channel. Moreover, the previous demand level at 1.4615 was broken down last Friday.

That is why, early signs of bullish rejection should be considered around the demand level of 1.4360 as a valid buy signal.

Trading Recommendation:

Risky traders can have a valid BUY entry anywhere around the price level of 1.4360.

S/L should be located below 1.4300 to minimize our risk. Initial T/P levels should be located at 1.4440, 1.4500 and 1.4610.

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 Intraday technical levels and trading recommendations for GBP/USD for January 12, 2016 . Thanks for your support.

Intraday technical levels and trading recommendations for EUR/USD for January 12, 2016 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 pressure, which existed around the level of 1.1450.

Hence, a long-term projected target is still seen at 0.9450 if a bearish breakout below the monthly demand level of 1.0570 occurs before the end of this month (January).

On August 24, the EUR/USD pair looked overbought as the market spiked 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 are located at 1.1150 and 1.1050 were already reached.

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

One month ago, daily persistence below the level of 1.0800 and 1.0700 (key levels) ensured enough bearish momentum towards 1.0550 (prominent monthly level) where the recent bullish pullback was initiated.

Last week, the level of 1.1000 was considered a significant supply level to offer a valid sell entry, and it already did.

A Head and Shoulders reversal pattern was established around the mentioned supply level.

Bearish closure below 1.0800 (neckline) confirmed the depicted reversal pattern. Estimated bearish target is located at 1.0620.

Note that bearish persistence below 1.0800 (neckline of the depicted reversal pattern) is needed to allow further bearish decline towards 1.0730 and 1.0620 again.

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 Intraday technical levels and trading recommendations for EUR/USD for January 12, 2016 . Thanks for your support.

Technical analysis of USD/JPY for January 12, 2016 Market Analysis Review

USD/JPY is expected to rebound. Overnight, US stocks managed to halt further slippage thanks to a session-end rally. Shares in the automobile and retailing sectors traded higher, while energy stocks dropped sharply as Nymex crude oil plunged 5.3% to $31.41 a barrel. The Dow Jones Industrial Average gained 0.3% to 16,398, the S&P 500 added 0.1% to 1,923, while the Nasdaq Composite was down 0.1% to 4,637.

Gold declined 0.8% to $1,094 an ounce, while the benchmark 10-year Treasury yield edged up to 2.160% from 2.131% in the previous session.

Meanwhile, the US dollar remained mixed. EUR/USD dropped 0.6% to 1.0859, USD/CHF rose 0.7% to 1.0015, while GBP/USD edged up 0.1% to 1.4538 and AUD/USD was up 0.6% to 0.6993. As oil prices spiraled downward, USD/CAD once surged to 1.4246, which was only last seen in April 2003.

The pair rose to as high as 117.90 yesterday before entering a consolidation. Currently, being above the key support at 117.20, it is standing around the over-lapping 20- and 50-period moving averages, showing no downward momentum. If the current consolidation ends above the key support, the pair should retest the first upside target at 118.80.

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 118.80 and the second target at 119.30. In the alternative scenario, it is recommended to open short positions with the first target at 116.75, 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 116.10. The pivot point is at 117.20.

Resistance levels: 118.80, 119.30, 119.75

Support levels: 116.75, 116.10, 115.75

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 January 12, 2016 . Thanks for your support.

Technical analysis of USD/CHF for January 12, 2016 Market Analysis Review

USD/CHF is expected to continue its rebound. The pair remains supported by its rising 20-period moving average. The 50-period moving average is also turning up, and should play a support role. Furthermore, the relative strength index stands firmly above its neutrality area at 50, and is well directed. In this case, as long as 0.9950 (our trailing stop loss) is not broken, look for a new advance to 1.0040 and 1.0080 in extension.

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 1.0040 and the second target at 1.0080. In the alternative scenario, it is recommended to open short positions with the first target at 0.9915, 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 0.9870. The pivot point is at 0.9950.

Resistance levels: 1.0040, 1.0080, 1.0110

Support levels: 0.9915, 0.9870, 0.9810.

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/CHF for January 12, 2016 . Thanks for your support.

Technical analysis of NZD/USD for January 12, 2016 Market Analysis Review

NZD/USD is expected to trade in a lower range as the key resistance is at 0.6585. The pair posted some technical rebounds yesterday after the recent decline. Nevertheless, the key resistance at 0.6585 still places prices under strong selling pressure. Besides, the relative strength index lacks upward momentum. Even though a continuation of the technical rebounds cannot be ruled out, its extent should be very limited. As long as 0.6585 is not surpassed, look for a new pullback to 0.6500 and 0.6445 in extension.

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 0.6500. A break of that target will move the pair further downwards to 0.6445. The pivot point stands at 0.6585. 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 0.6635 and the second target at 0.6675.

Resistance levels: 0.6635, 0.6675, 0.6705

Support levels: 0.65, 0.6445, 0.64

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 NZD/USD for January 12, 2016 . Thanks for your support.

Technical analysis of GBP/JPY for January 12, 2016 Market Analysis Review

GBP/JPY is under pressure. The pair stays below its key resistance at 171.10 and remains under pressure. Meanwhile, the relative strength index lacks upward momentum. The first target to the downside is set at the horizontal support and overlap at 169.35. A break below this level would open the way to further weakness towards 168.30.

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 169.35. A break of that target will move the pair further downwards to 168.30. The pivot point stands at 171.10. 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 171.70 and the second target at 172.50.

Resistance levels: 171.70, 172.50, 173.45

Support levels: 169.35, 168.30, 167.65

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/JPY for January 12, 2016 . Thanks for your support.

Gold analysis for January 12, 2016 Market Analysis Review

Overview:

Since our last analysis, gold has been trading downwards. As I expected, the price tested the level of $1,085.33. In the daily time frame, we can observe rejection of Fibonacci retracement 38.2% and successful rejection of SMA 100. Buying at this stage looks risky since the price rejected our strong resistance. The intraday trend is downward. Besides, the short- and mid-term trend is downward. I placed Fibonacci expansion to find a potential end of upward correction and got Fibonacci expansion 161.8% at the price of $1,115.50 (held successfully). Be careful when buying gold at this stage and watch for potential selling opportunities. The key support for gold is at the price of $1,046.00.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,104.63

R2: 1,107.67

R3: 1,112.90

Support levels:

S1: 1,094.00

S2: 1,090.10

S3: 1,085.50

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

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 Gold analysis for January 12, 2016 . Thanks for your support.

Technical analysis of Silver for January 12, 2016 Market Analysis Review

Technical outlook and chart setups:

Silver is seen to be again dropping towards its consolidation support levels around $13.70/75 levels as seen here on the H4 chart. The metal is expected to bounce from the support levels here and push towards $14.20/30 levels in the sessions to come. It has been bouncing off the support and resistance levels since quite a few trading sessions now, and needs to break the cone consolidation to determine its next leg. It is recommended to initiate long positions since the metal is trading at support around $13.70/75. The metal is now expected to reach the resistance zone around $14.20/30 levels in the coming trading sessions.

Trading recommendations:

Initiate long positions now, stop is at $13.65, target is open.

Good luck!

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 Silver for January 12, 2016 . Thanks for your support.

EUR/NZD analysis for January 12, 2016 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6505 in an average volume. In the daily time frame, I found rejection from our SMA100 and SMA150 at the price of 1.6770. In the H4 time frame, I found that supply came in today. Besides, the price is above SMA50, SMA100, and SMA200. Selling EUR/NZD at this stage looks risky. Watch for potential buying opportunities. I placed Fibonacci expansion to find a potential end of downward correction and got Fibonacci expansion 61.8% at the price of 1.6515. The resistance level is at the price of 1.6835.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6760

R2: 1.6830

R3: 1.6950

Support levels:

S1: 1.6520

S2: 1.6445

S3: 1.6325

Trading recommendations: The short-term trend is still upward. So, watch for potential buying opportunities on the dips.

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 EUR/NZD analysis for January 12, 2016 . Thanks for your support.

Technical analysis of Gold for January 12, 2016 Market Analysis Review

Technical outlook and chart setups:

Gold is seen to be trading at $1,085.00/86.00 levels for now, looking to form a base around $1,078.00/80.00 levels as expected before rallying further. The metal has potential to rally through $1,125.00 and $1,136.00 levels before reversing lower. Please note that the current drop towards $1,080.00 levels is just a counter trend and the metal should be seen forming bottom around $1,080.00 levels. It is hence recommended to initiate 50% long positions now and remain at $1,078.00/80.00 levels with risk at $1,060.00. Immediate support is seen at $1,075.00 levels, while resistance is seen at $1,108.00 levels.

Trading recommendations:

Long 50% now and remain around $1,080.00, stop is at $1,060.00, target is open.

Good luck!

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 Gold for January 12, 2016 . Thanks for your support.

Technical analysis of GBP/CHF for January 12, 2016 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has retraced to Fibonacci 0.618 support of the entire rally between 1.4350 and 1.4580 levels, at 1.4415/25 levels at the moment. The pair is looking to push higher through at least 1.4750 levels, if not lower. The potential remains for a rally to 1.4950 current levels as well from. The pair is seen to be trading around 1.4430 levels, looking to form a bullish reversal candlestick signal in smaller time frames. It is hence recommended to remain long and also look to add further positions with risk at 1.4300 levels. Immediate support is seen at 1.4350 levels, while resistance is seen at 1.4650 levels and higher.

Trading recommendations:

Remain long, stop is at 1.4300, target is 1.4750.

Good luck!

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/CHF for January 12, 2016 . Thanks for your support.

Technical analysis of NZD/USD for January 12, 2016 Market Analysis Review

Overview:

• The NZD/USD pair will keep moving downwards from the level of 0.6603 (this level coincides with the 38.2% of Fibonacci retracement levels in H4 chart). Accordingly, the Kiwi is going to show signs of weakness at the highest price of 0.6603. Thereafter, it will be a good deal to sell below the level of 38.2% of Fibonacci retracement levels in H4 chart with the first target at 0.6481 and the second one at 0.6429 in order to test the double bottom (new project). Importantly, we expect that the new minimum price of 0.6429 will act as strong support and it is going to be a good place to take profit. On the other hand, in case a reflection takes place and the NZD/USD pair is not able to break through the suport at the 0.6781 level, the pair will further decline to 0.6429 to indicate a bearish market. At the same time, if the trend succeeds to stay above 0.6630, the market will continue upward movement above the daily pivot point towards the level of 0.6709.

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 NZD/USD for January 12, 2016 . Thanks for your support.

Technical analysis of USD/CHF for January 12, 2016 Market Analysis Review

Overview:

• The USD/CHF pair is going to set strong resistance at the level of 1.0096 and support at 0.9910. Equally important, the price is still moving between 0.9910 and 1.0096. Besides, the USD/CHF pair has still been below 78.6% of Fibonacci retracement levels since last week. As a result, the price has already formed the strong resistance at the level of 1.0096 and it is now approaching it in order to test it again. Therefore, the Swissy will get convincing downside momentum and the structure of the fall does not look corrective. It indicates a bearish opportunity below the 1.0096 level. So, it will be a good sign to sell below 1.0096 with the first target of 0.9973 (this level coincides with the daily pivot point) and it will call for a downtrend in order to continue bearish move towards 0.9910 in the coming hours. On the other hand, the stop loss should always be taken into account. Hence, it will be wise to set your stop loss at the price of 1.0123.

Intraday technical levels:

• R2: 1.0123
• R1: 1.0073
• PP: 0.9973
• S1: 0.9940
• S2: 0.9881

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/CHF for January 12, 2016 . Thanks for your support.

USD/JPY technical analysis for January 12, 2016 Market Analysis Review

USD/JPY is trading in a short-term bearish channel from 123.50 and is testing the neckline support at 117-116, which is a very important long-term support. Resistance is at 118.85. If it is broken I expect this pair to push towards 120. Otherwise, we should reach the 116 area.

The short-term resistance is at 118 and next at 118.85. Support is at 117.15. The trend is bearish. The price is below the Ichimoku cloud and below both cloud indicators (tenkan-sen and kijun-sen).

Red line - neckline support

According to the daily chart, the price has broken below the Ichimoku cloud and the decline has stopped right at the red neckline support of a potential Head and Shoulders top. A break below 116.50 will be a bearish signal, but with oscillators oversold there are more chances of a bounce towards 120 now.

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 USD/JPY technical analysis for January 12, 2016 . Thanks for your support.

GBPUSD technical analysis for January 12, 2016 Market Analysis Review

GBP/USD remains in a strong down trend inside a bearish channel, but there are signs that bears should be very cautious as I believe around 1.4450 we should expect a big reversal and strong bounce in this pair.

GBPUSD is trading inside a bearish channel as shown in the 4-hour chart above. Trend remains bearish as price is trading below the Ichimoku cloud and both the tenkan- and kijun-sen indicators. Stochastic oscillator is oversold providing some bullish divergence signals. Beas should protect their profits if price breaks above 1.4610. Downward target is at 1.4450.

In the weekly chart we also find oversold oscillator readings. A bounce towards 1.52 is possible although bulls will first have to break above 1.46-1.4650 in order to regain short-term control of the trend. Concluding, bears are in control but I believe they should protect their short positions by lowering their stops as a bounce is expected.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 GBPUSD technical analysis for January 12, 2016 . Thanks for your support.

Global macro overview for 12/01/2016 Market Analysis Review

Global macro overview for 12/01/2016:

The UK industrial and manufacturing production data, which have been just released, broadly disappointed investors. The market had expected the industrial production to decline just slightly from 0.1% to 0.0% this month, instead of that the production declined to -0.7%. Moreover, the manufacturing production had stayed at the same level as a month ago: -0.4% amid the market expectation of a minor increase to the level of 0.1%. It has been the fifth consecutive annual decline. The industrial output is the biggest plunge in almost three years due to warmer weather lowering energy demand.

The GBP/USD pair has dropped in light of the negative UK economy news and currently is trading just above the support at the level of 1.4495.

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 Global macro overview for 12/01/2016 . Thanks for your support.

Global macro overview for 12/01/2016 Market Analysis Review

Global macro overview for 12/01/2016:

The Japanese current account data was released overnight and it revealed account surplus for the 17th straight month in November. Japan's current account surplus came in at 1.14 trillion yen, up from 440.2 billion yen a year earlier. It was the much-expected data from Prime Minister Shinzo Abe's economy policy. The surplus was better than expectations mainly due to an increase in income from investments abroad by Japanese companies and a rise in services amid an influx of tourists after the Japanese yen weakened.

The USD/JPY pair is trading below the technical resistance at the level of 118.03. The next support is seen at the level of 116.18.

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 Global macro overview for 12/01/2016 . Thanks for your support.

USDX technical analysis for January 12, 2016 Market Analysis Review

The US Dollar index has bounced towards the 99 resistance level and I expect more selling pressures to push the price lower to test the 98 support area.

Blue line - support

Red line - resistance

The US Dollar index is mainly moving sideways as the price holds above the 98 support and below 99 resistance. I believe that the US Dollar index will eventually break support and push lower towards at least 97. Even after the better-than-expected Non-Farm Payrolls announced last Friday, the US Dollar reaction has been very muted.

According to the daily chart, the US Dollar index has found resistance at the upper cloud boundary. A rejection there will confirm the bearish short-term trend, the index is in, with possible target at the lower cloud boundary. If support at 98 is broken, we should expect moves towards 97 at least.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 USDX technical analysis for January 12, 2016 . Thanks for your support.

Gold wave analysis for January 12, 2016 Market Analysis Review

The gold price is either in a wave 4 correction phase or has made an important top and is starting a new decline towards new lows at $1,000. The decisive price level is $1,080.

The gold price is still above the Ichimoku cloud and the pullback has reached the kijun-sen support (yellow line). This level is also the 38% Fibonacci retracement support. This is a typical 4th wave correction. If the bullish scenario is true, then we should expect one more new final high to complete wave 5 up. However, if we pull back lower and price overlaps wave's 1 high at $1,080, then the bullish scenario will be postponed.

Red lines - bullish wedge

Yellow line - long-term resistance

The weekly chart remains the same. The price has much more upside potential than downside. The price increase has stopped right at the weekly kijun-sen resistance. The long-term trend remains bearish as the price remains below the Ichimoku cloud. However, I believe, there are more chances of a push towards the cloud.

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 Gold wave analysis for January 12, 2016 . Thanks for your support.