Elliott wave analysis of EUR/NZD for September 17, 2015 Market Analysis Review

Technical summary:

A correction in wave ii has taken more time than first expected, but nothing else has changed. We are still looking for a break above resistance at 1.7866 to enable a rally towards at least 1.8288 and most likely even higher to 1.8682 in wave iii.

Ideally, support at 1.7702 will be able to protect the downside for a breakout above 1.7866.

Trading recommendation:

We are long EUR from 1.7490 with stop at 1.7620. If you are not long EUR yet, then buy on a break above resistance at 1.7866 with stop placed at 1.7700.

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Elliott wave analysis of EUR/JPY for September 17, 2015 Market Analysis Review

Technical summary:

A decline from 137.05 is performen in three waves and therefore more upside pressure is expected towards 138.25 where we the resistance-line of 141.06 is found. A movement back to a high of 141.06 and even higher to 143.90 should be expected.

Only if the resistance line near 138.25 is able to turn prices lower we should see a decline to 126.59 soon and maybe even lower.

Trading recommendation:

Our stop at 136.45 was hit for a very small loss. We will buy EUR at 135.75 with stop at 135.10.

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Technical analysis of EUR/USD for September 17, 2015 Market Analysis Review

When the European market opens, economic news on the Italian Trade Balance is due to be released. The US will publish the economic data about the Federal Funds Rate, FOMC Statement, Natural Gas Storage, Philly Fed Manufacturing Index, Housing Starts, Current Account, Unemployment Claims, and Building Permits. So amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1345.

Strong Resistance:1.1339.

Original Resistance: 1.1328.

Inner Sell Area: 1.1317.

Target Inner Area: 1.1291.

Inner Buy Area: 1.1265.

Original Support: 1.1254.

Strong Support: 1.1248.

Breakout SELL Level: 1.1237.

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 September 17, 2015 . Thanks for your support.

Technical analysis of USD/JPY for September 17, 2015 Market Analysis Review

In Asia, Japan will release the Trade Balance and BOJ Gov Kuroda Speaks. The US will publish economic data on the Federal Funds Rate, FOMC Statement, Natural Gas Storage, Philly Fed Manufacturing Index, Housing Starts, Current Account, Unemployment Claims, and Building Permits. So, there is a strong probability that USD/JPY will move with low to medium volatility during the Asian session, but with medium to high volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.10.

Resistance. 2: 120.86.

Resistance. 1: 120.63.

Support. 1: 120.34.

Support. 2: 120.10.

Support. 3: 119.87.

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 September 17, 2015 . Thanks for your support.

Daily analysis of major pairs for September 17, 2015 Market Analysis Review

EUR/USD: On this pair, there is yet to be a significant trending movement, as the market is still consolidating. When a breakout (which is normally expected) takes place, the support line at 1.1150 could be violated. On the other hand, we may see bulls making further bullish attempts.

USD/CHF: This pair is in a consolidation mode. There would be a breakout to the upside or to the downside today, pushing the price above the resistance level of 0.9800 or below the support level at 0.9600. When a breakout does occur, it would probably be in favor of bears. Nevertheless, a strong trend is needed for this to happen.

GBP/USD: The GBP/USD pair moved upwards by at least 170 pips, testing the distribution territory at 1.5500. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level of 50. This reveals a bullish outlook - the price could reach other distribution territories of 1.5550 and 1.5600. Moreover, some fundamental figures are expected today and they will have impact on the markets.

USD/JPY: This pair moved largely sideways yesterday. A breakout could take place any day this week, which would make the price go above the supply level at 121.00 or below the demand level at 119.00. Then, a directional movement is expected in the market.

EUR/JPY: The EUR/JPY pair made some bullish attempt on Wednesday, testing the supply zone of 136.50. When the supply zone is breached to the upside, the price could test another supply zone around 137.00. There is a Bullish Confirmation Pattern in the chart, and bulls still dominate in the market.

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Daily analysis of USDX for September 17, 2015 Market Analysis Review

The USDX continues moving inside a range detween 95.83 and 95.26 on the daily chart ahead of the FOMC meeting. That is why we should trade this index very cautiously, as the USDX could start a rally towards the resistance level of 96.64 or a pullback until the support zone of 94.42, where the 200 SMA is located.

On the H1 chart, we can see a bearish structure placed below the 200 SMA, where we should be aware of further downside moves. However, there is a strong probability that we wouls see a bullish correction towards the 200 SMA again. If the support level of 95.20 is broken, the USDX will fall until the price zone of 94.75. The MACD indicator is trading at the negative territory.

Daily chart's resistance levels: 96.64 / 97.23

Daily chart's support levels: 95.83 / 95.26

H1 chart's resistance levels: 95.65 / 95.83

H1 chart's support levels: 95.41 / 95.20

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US Dollar Index breaks with a bearish candlestick; the support level is at 95.41, take profit is at 95.20, and stop loss is at 95.61.

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Daily analysis of GBP/USD for September 17, 2015 Market Analysis Review

A bullish momentum can be seen on the GBP/USD chart ahead of the US Federal Reserve's meeting scheduled for this thursday. We could expect some volatile hours before the press conference. In the daily chart, current strong resistance is located around the level of 1.5479l. The MACD indicator is still at the positive territory.

The intraday outlook shows bullish pattern formation above the support level of 1.5466 and the resistance level of 1.5516 should be broken in coming hours for another advance towards the zone around 1.5561. However, if a pullback happens at current levels, the pair will fall until the level of 1.5402.

Daily chart's resistance levels: 1.5479 / 1.5559

Daily chart's support levels: 1.5329 / 1.5181

H1 chart's resistance levels: 1.5516 / 1.5561

H1 chart's support levels: 1.5466 / 1.5402

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5516, take profit is at 1.5561, and stop loss is at 1.5472.

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