Technical analysis of USD/CAD for May 20, 2015 Market Analysis Review

We advised buying earlier. The pair moved 330 pips from lows. Bulls have been extending the winning streak for the fourth consecutive day. At yesterday's session, the pair managed to close above 100Dema. The trend-change level lies at 1.2350. In case of a daily close above 1.2350, bulls will aim at new highs. Last Friday, we covered a complete technical picture of this pair. The USD related pairs have been correcting for more than 2 months. On the downside, support is found at 1.2175 100Dema and 1.2090 200Dsma. In the daily chart, the pair has been forming the bottom around 1.1940, whereas the strong support is found at 1.1875. The intraday resistance is seen between 1.2250 and 1.2280. The strong resistance is seen at 1.2350. In the daily chart, we can observe positive divergence. The bottoming process is a very painful process after a sharp fall in the price. In case the FOMC's decision remains unchanged, the pair will correct with higher low formation. In the daily hourly chart, the double top was formed at 1.2250. We recommend fresh buying only above 1.2250 with targets at 1.2280, 1.2300, and 1.2350.

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Technical analysis of EUR/USD for May 20, 2015 Market Analysis Review

When the European market opens, economic data on the German PPI m/m are due.The US will release the FOMC Meeting Minutes and Crude Oil Inventories. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1197.

Strong Resistance:1.1191.

Original Resistance: 1.1180.

Inner Sell Area: 1.1169.

Target Inner Area: 1.1143.

Inner Buy Area: 1.1117.

Original Support: 1.1106.

Strong Support: 1.1095.

Breakout SELL Level: 1.1089.

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 May 20, 2015 Market Analysis Review

In Asia, Japan will release data on the Prelim GDP Price Index y/y and Prelim GDP q/q. The US is expected to publish the FOMC Meeting Minutes and data on Crude Oil Inventories. So, there is a strong probability that USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.51.

Resistance. 2: 121.28.

Resistance. 1: 121.04.

Support. 1: 120.74.

Support. 2: 120.51.

Support. 3: 120.27.

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 May 20, 2015 . Thanks for your support.

Technical analysis of GBP/USD for May 20, 2015 Market Analysis Review

The cable has been continuing the downward ticks for the 3rd consecutive day. At yesterday's session, the CPI data disappointed bulls and encouraged greenback bulls. The Consumer Prices Index (CPI) fell by 0.1% in the year to April 2015, compared to no change (0.0%) in the year to March 2015. This is the first time the CPI has fallen over the year since official records began in 1996 and the first time since 1960 based on comparable historic estimates. Today, traders eye on the MPC.

Technical view: The cable rejected at 100Wema and fell by 370 pips. We have warned that a sharp reversal was expected between 1.5800 and 1.5835. The cable made high at 1.5815 changed the direction close below 200Dsma&ema. The weekly support is found at 1.5150 20Wsma. The nearest support is found at 1.5440 and 1.5400. The intraday resistance is seen at 1.5535 and 1.5560. The trade favors selling on rises. Today, small trading below 1.5440 is available for bears with targets at 1.5400, 1.5393, and 1.5385. We expect the cable to touch 1.5280 in a day or two. On a positional basis, the cable favors buying on dips with sl 1.5150. Small trading is available for intraday bulls above 1.5535 likely 1.5550, 1.5580, and 1.5600.

To contact the author of this analysis, please email- joseph.wind@analytics.instaforex.com

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Technical analysis of EUR/USD for May 20, 2015 Market Analysis Review

TZEW Economic Sentiment for Germany decreased by 11.4 points in May 2015 compared to the previous month. Now, the index stands at 41.9 points. ZEW Economic Sentiment for the eurozone decreased by 3.6 points to 61.2 points. Gaining 11.8 points in May 2015, the current situation index reached the level of -16.5 points in the euro area. The European annual inflation was 0.0% in April 2015, up from -0.1% in March. In April 2014, the inflation growth rate was 0.7%. The European Union's annual inflation growth rate was also 0.0% on April 20.

The US delivered strong data supported the greenback for the second consecutive day as well. Today, the German PPI is due. We expect another negative data at today's session.

Technical view: the near-term top is likely to be at 1.1480 or 1.1535. The pair made a high at 1.1467 fell by 350 pips. At today's Asian session, the euro is trading lower against USD. The pair closed below 10Dsma and 20Dsma yesterday. These factors pumped enough strength to the bears who aim at 1.1050 and 1.0920 5Dsma. The strong support is seen at 1.1120 on a weekly closing basis. Resistance is seen at 1.1175 and 1.1295. The intraday support is found at 1.1090 and 1.1050. The trade favors selling on rises. Today's safe selling will be triggered below 1.1098. A daily close below 1.1050 is likely to provide bears with the complete control.

To contact the author of this analysis, please email- joseph.wind@analytics.instaforex.com

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AUDNZD long term downtrend could continue Market Analysis Review

Looking at the long-term picture based on the daily time frame, AUD/NZD got quite volatile over the last year. While it has been consistently rising since the beginning of 2014, after reaching the top at 1.1298 it felt sharply. The pair lost over 1200 points in 5 months.

The uptrend breakout allowed applying Fibonacci in order to find support/resistance and potential targets. The most significant fact is a break below the downside target, S3 (1.0344), which assumes a continuation of a long-term decline. In addition, AUD/NZD is currently rejecting the 50% Fibs, the point of the trend-line breakout, and it looks like a strong resistance has been established around the R1 (1.0820) area.

Consider selling AUD/NZD around the current levels. A target is seen at S2 (1.0570), the most appropriate area because it was acting as support as well as resistance previously. A break above 1.0890, which was a high back on May 13, could send the price higher to test the uptrend as resistance this time.

Support: 1.0707, 1.0569, 1.0344

Resistance: 1.0820, 1.0933, 1.1289

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AUDUSD correction down. Market Analysis Review

After hitting the low of 0.7531 on the 02.04, AUD/USD formed a double bottom that could be a reversal signal pushing the rate higher in the long term. Although in a small time frame, after breaking below the uptrend, it appears that the pair could make a correction lower.

The Fibonacci applied to the trend-line breakout point shows the current support and resistance levels as well as potential downside target. Currently, AUD/USD is rejecting the S1 support and there is a possibility that the pair will return back to one of the resistance levels, either R1 or R2 before/if moving lower.

Consider selling AUD/USD either on a pullback around R1 (0.7953) resistance or on the breakout of the current low at the S1 (0.7903) support targeting 0% Fibonacci – S3 (0.7745) support area. A breakout above R2 (0.8002) should bring the pair back to the most recent high, which seems to have low probability at this point.

Support: 0.7903, 0.7843, 0.7745

Resistance: 0.7953, 0.8002, 0.8161

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