Elliott wave analysis of EUR/NZD for September 29, 2015 Market Analysis Review

Technical summary:

We have seen an almost perfect touch down of our target near 1.7455 (the low came in at 1.7454). The next important thing to watch for is a break above resistance at 1.8000 that would call for a continuation higher to 1.8683.

In the short term, we will ideally see minor support at 1.7759 protecting the downside for the test of 1.8000 and a break above this line.

Trading recommendation:

We are long EUR from 1.7475 and will move our stop higher to 1.7450.

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Elliott wave analysis of EUR/JPY for September 29, 2015 Market Analysis Review

Technical summary:

We are still locked inside the descending channel continuing to look for a final decline to 131.45 before a firm bottom is expected to be in place for a rally back to 141.06 and above it.

In the short term, resistance at 135.38 should be able to protect the upside for a break below minor support at 133.94, confirming the next part of a decline closer to 131.45. An unexpected breakout above 135.38 could be the first strong indication that the bottom is already in place 132.26 and the next impulsive rally is about to take off.

Trading recommendation:

We will buy EUR at 131.65 or upon a break above 135.38 (one order don cancels the other

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Daily analysis of USDX for September 29, 2015 Market Analysis Review

The USDX is forming a higher high pattern on the daily chart, after a consolidation performed above the support zone around the level of 95.83. However, a breakout above the resistance zone of 96.38 will expose the index to test the zone of 96.91, which is still a key sell zone for the USDX. A pullback should not be discarded at this stage.

On the H1 chart, the USDX is trying to perform a rebound above the 200 SMA, which is acting as dynamic support. The current structure is still calling for more upside moves, as the index is still holding above the last important lows reached during the last week at least. The 200 SMA is turning neutral and the MACD indicator remains at the negative territory.

Daily chart's resistance levels: 96.38 / 96.91

Daily chart's support levels: 95.81 / 95.26

H1 chart's resistance levels: 96.15 / 96.30

H1 chart's support levels: 95.94 / 95.77

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is at 96.15, take profit is at 96.30, and stop loss is at 96.00.

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Technical analysis of EUR/USD for September 29, 2015 Market Analysis Review

When the European market opens, economic news about the Italian 10-y Bond Auction, Spanish Flash CPI y/y, German Prelim CPI m/m, and German Import Prices m/m is due to be released.The US will unveil economic data on the CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, and Goods Trade Balance. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1284.

Strong Resistance:1.1278.

Original Resistance: 1.1267.

Inner Sell Area: 1.1256.

Target Inner Area: 1.1230.

Inner Buy Area: 1.1204.

Original Support: 1.1193.

Strong Support: 1.1182.

Breakout SELL Level: 1.1176.

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 29, 2015 . Thanks for your support.

Technical analysis of USD/JPY for September 29, 2015 Market Analysis Review

In Asia, Japan will not release any economic data, but the US will publish data on the CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, and Goods Trade Balance. So, there is a strong probability that USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.25.

Resistance. 2: 120.01.

Resistance. 1: 119.78.

Support. 1: 119.55.

Support. 2: 119.31.

Support. 3: 119.02.

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 29, 2015 . Thanks for your support.

Daily analysis of GBP/USD for September 29, 2015 Market Analysis Review

On the daily chart, GBP/USD has been trading above the support level of 1.5169, where we expect a strong rebound, which should take this pair to higher levels. Current structure is calling for more downside room, but before further bearish moves. The cable should correct the decline held from the pullback around the 200 SMA.

The cable continues trading sideways, as the pair keeps trading above the support level of 1.5166, where a breakout should happen to test the next key low zone around the level of 1.5103. However, as the corrections could be extended, the GBP/USD pair will test the resistance at 1.5223 again.

Daily chart's resistance levels: 1.5256 / 1.5344

Daily chart's support levels: 1.5169 / 1.5030

H1 chart's resistance levels: 1.5223 / 1.5285

H1 chart's support levels: 1.5166 / 1.5103

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.5166, take profit is at 1.5103, and stop loss is at 1.5229.

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GBP/USD intraday technical levels and trading recommendations for September 28, 2015 Market Analysis Review

Overview:

On April 9, the bearish trend was resumed towards the level of 1.4550 where a lower daily bottom was reached. That is where the depicted bullish trend was initiated.

The next bullish swing extended up to the levels of 1.5750-1.5800, which offered valid sell entries for risky traders (depicted with red numbers).

Recently, strong bullish pressure was applied to the resistance level of 1.5800 via the recent bullish swing.

That is why, the resistance level of 1.5800 was temporarily breached. Bulls moved towards 1.5900 where the depicted Head and Shoulders pattern was confirmed.

The support level of 1.5555 got breached by the end of the previous month due to excessive bearish pressure which originated at 1.5800.

On the other hand, a valid sell entry was suggested around the depicted resistance zone of 1.5470-1.5540 with Stop Loss located above the level of 1.5580 (mid-range of the consolidation zone).

The current support zone for the GBP/USD pair is located at 1.5200-1.5170 where a valid intraday buy entry can be offered if enough bullish rejection is expressed.

On the other hand, bearish persistence below the level of 1.5170 allows further bearish decline towards the level of 1.5130 initially and then towards 1.5050.

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