USDX technical analysis for September 30, 2015 Market Analysis Review

The US dollar index continues to trade below the important resistance of 96.6, but also above the Ichimoku cloud in both the 4-hour and weekly charts. I prefer to stay neutral and wait for the buy signal above 96.60 to go long. The weekly bullish flag remains valid. We must be patient waiting for a breakout.

Red lines - triangle pattern

The US dollar index is trading in a big triangle pattern. The upper triangle boundary is seen at the previous high and important resistance of 96.60. The lower boundary is at 95. A trend is neutral in both the medium and short terms as the price mainly consolidates.

Red line - resistance

Green line - support

The weekly chart does not show any new or significant changes. The price remains trapped inside the bullish flag and above the Ichimoku cloud. The best thing to do is to wait for a breakout, so we need to be patient.

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Technical analysis of USD/CAD for September 30, 2015 Market Analysis Review

General overview for 30/09/2015 09:35 CET

The pair reached another marginal high, so it looks like the wave ii blue might have been completed earlier. The count has been changed to incorporate the recent changes and now it is more bullish. However, this current labeling might be a part of an ending diagonal wave 5 purple. Nevertheless, the market should develop an internal wave iv blue before calling for moor room higher above the level of 1.3456.

Support/Resistnace:

1.3451 - WR1

1.3456 - Intraday Resistnace

1.3371 - Intraday Support

1.3312 - Weekly Pivot

1.3208 - WS1

Trading recommendations:

Daytraders should refrain from trading and wait for more clear pattern to occur. More agressive investors might try to buy on dips inside of the triangle area.

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Technical analysis of EUR/JPY for September 30, 2015 Market Analysis Review

General overview for 30/09/2015 09:15 CET

It is the third day in a row when this pair is trading around the weekly pivot at the level of 134.77 with no intention to breakout through one of the important levels. Despite the fact that the golden trend line had been violated, there is no continuation to the upside. This is another clue that the current wave progression might be a part of a more complex and time consuming wave (b) pattern.

Support/Resistnace:

131.80 - WS2

132.22 - Technical Support

133.13 - Wave (b) Bottom

133.40 - WS1

133.92 - Intraday Support

134.77 - Weekly Pivot

135.36 - Intraday Resistnace

136.36 - WR1

Trading recommendations:

Daytraders should refrain from trading and wait for more clear pattern to occur as moment is not good to make any trades.

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Gold wave analysis for September 30, 2015 Market Analysis Review

Gold price continues to trade inside the short-term bearish channel, but in what I believe to be a wave 2. The price is approaching the 61.8% Fibonacci retracement, which is an important support and a highly probable reversal level. I prefer long positions with stop at $1,100.

Black lines - bearish channel

Green lines - long-term triangle pattern

Gold is testing the Ichimoku cloud and the 61.8% Fibonacci retracement. If this is a wave 2, we should see an upward reversal soon. The form of the decline in 3 waves is corrective so far. This complies with my view. We are in wave 2.

The weekly chart shows how this week's candle is testing the tenkan-sen support, so bulls will need to step in and push the price higher. If this does not happen and the week closes below the tenkan-sen, a new rejection at the kijun-sen will be bearish reversal and bearish sign that would signal approaching new lows.

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Elliott wave analysis of EUR/NZD for September 30, 2015 Market Analysis Review

Technical summary:

No change is observed here. We continue to watch for a breakout above important resistance at 1.8000 that confirms a continuation higher to 1.8683. It will take an unexpected breakout below support at 1.7454 to invalidate the bullish outlook.

Trading recommendation:

We are long EUR from 1.7475 with stop placed at 1.7450. If you are not long EUR yet, buy near 1.7585 or upon a break above 1.7901 with the same stop at 1.7450.

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Elliott wave analysis of EUR/JPY for September 30, 2015 Market Analysis Review

Technical summary:

No change in view is observed here. We continue to watch for one more decline closer to an ideal target at 131.45 before a firm bottom is expected. A new rally higher should be expected. In the short term, we expect the minor resistance at 135.38 to protect the upside for expected downside pressure.

Only an unexpected breakout above minor resistance at 135.38 will indicate that the bottom is in place for a new impulsive rally back to 141.03 and above.

Trading recommendation:

We have placed a buy-order at 131.50 and one upon a break above 135.38 (one order done cancels the other)

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Daily analysis of major pairs for September 30, 2015 Market Analysis Review

EUR/USD: This pair is performing some bullish attempts, which have now resulted in a Bullish Confirmation Pattern in the chart. The EMA 11 has crossed the EMA 56 to the upside, while the Williams' % Range period 20 is now in the overbought territory. This means there is rising momentum in the market, which could possibly favor bulls.

USD/CHF: There is a "sell" signal on the USD/CHF chart, which would become even stronger when the support level of 0.9650 is broken to the upside. The new "sell" signal cannot be rendered invalid as long as the price stays below the resistance level of 0.9800. Normally, the movement of the EUR/USD pair would determine the fate of the USD/CHF pair.

GBP/USD: The GBP/USD pair consolidated on Tuesday. There is a clean Bearish Confirmation Pattern in the market, and the price could still continue its journey by at least 200 pips down this week. The accumulation territories around 1.5100 and 1.5000 act as potential targets for bears.

USD/JPY: This is a strong equilibrium market with no clear uptrend or downtrend in it. It is better for swing and position traders to stay away from the market until a reliable breakout from the strong equilibrium phase takes place; this would require a movement of at least 200 pips upwards or downwards. Right now, the market is OK for scalpers and intraday traders.

EUR/JPY: There was no directional movement in the EUR/JPY chart yesterday, and the same thing is true of most other majors. The price is consolidating, while the overall bias remains bearish. There could be a breakout today or tomorrow, which would most probably favor bears.

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