Technical analysis of EUR/JPY for November 27, 2014 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY has been drifting sideways for the last 2 trading sessions as depicted above. Please note that the immediate support trend line was breached earlier and the prices had dropped to 145.57. Since then, the pair has been trading in a range and might be preparing for a push higher towards 151.00 levels at least. Immediate support is at 145.50/57 (interim), followed by 145.00, 143.20/30 and lower, while resistance is seen at 149.00 levels respectively. It is recommended to hold long positions taken earlier, risk below the 145.50 levels. Bulls are expected to remain in control, till the prices remain above 145.50.

Trading recommendations:

Remain long, stop at 145.40/50, the target is 151.00 and 154.00.

Good luck!

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Technical analysis of GBP/CHF for November 27, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair bounced off 1.5120/30 levels yesterday and hit fresh highs at 1.5220/30 before pulling back. The pair is seen to be trading at 1.5180/85 for now and is expected to inch higher towards 1.5270/1.5300 levels from here. Support is seen at 1.5120, followed by 1.5020, 1.4975 and lower while resistance is seen at 1.5300 (past support), 1.5450, 1.5475, and 1.5550 respectively. It is recommended to still hold long positions with risk around 1.5000. Please also note that fibonacci 0.618 resistance is around 1.5250/60, and the pair is expected to react there. However, a push through 1.5300 should see bulls in further control and targeting 1.5450/75 levels.

Trading recommendations:

Remain long, stop at 1.5000, the target is open.

Good luck!

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Technical analysis of Silver for November 27, 2014 Market Analysis Review

Technical outlook and chart setups:

Silver is seen to be pulling back from its recent highs of $16.70 levels. The metal is trading at $16.30 levels for now, with $15.90 as immediate support. A bounce ahead of $15.90 is quite probable, and should push the prices towards $17.30 levels. Please note that the support/counter trend line is passing through $15.70/80 levels for now and the metal is expected to be supported ahead of that. It is recommended to remain bullish for now and also look to add further positions with risk below $15.80. Support is at $15.90, followed by $15.30, and $15.00, while resistance is at $16.70 (interim), followed by $17.30/50, $17.80/18.00 and higher respectively. Only a break below $15.90 would confirm that a potential top is in place.

Trading recommendations:

Remain long, stop at $15.50, the target is open.

Good luck!

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Technical analysis of Gold for November 27, 2014 Market Analysis Review

Technical outlook and chart setups:

Gold is pulling back for now, after hitting the resistance area at $1,207.00 earlier. The metal is seen to be trading at $1,188.00 for now, with support seen at $1,175.00 levels. Please, note that the metal is lying in the buy zone of the rising support/counter trend line. Therefore, a positive bias still remains ahead of $1,170.00/75.00 levels. Immediate support is at $1,175.00, followed by $1,145.00 and $1,130.00, while resistance is seen at $1,207.00 (interim), followed by $1,235.00, $1,250.00/55.00 and higher respectively. It is still recommended to remain long on the remaining positions held earlier and also look to add further, risk remains at $1,145.00. Bulls could regain control back till the price remains above $1,175.00 levels.

Trading recommendations:

Remain long for now, stop at $1,145.00, the target is open.

Good luck!

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Technical Analysis of USD/CHF for November 27, 2014 Market Analysis Review

The pair has lost almost 100 odd pips this week. The pair has been making lower lows, it has been declining for 3 days. The pair is on a verge of the monthly support trend line on the daily chart. On the down side, the pair has support at 0.9590 and 0.9530. Bulls are trying to hold their grip, until the prices close above 0.9530. In case if the prices close below 0.9530, bears will drive the pair in the near term for 100 pips on the down side. From an Intraday view, the prices are forming a strong resistance level at 0.9621. We recommend hourly buying above 0.9625 and selling below 0.9590. The huge amount of pressure is taking place ahead of the Swiss referendum. It will be held this Sunday November 30, 2014. In case if the prices manage to breach above 0.9745 and close above this, the pair can challenge 0.9950 on a medium-term basis. In the hourly chart, the pair is making lower lows and lower highs.

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Review and intraday trading recommendations on GBP/JPY for November 27, 2014 Market Analysis Review

The pound sterling has been consolidating for 6 sessions. It tried to breach 186.15 a lot of times, but failed to breach that. As of now, today the pair made a triple top at 186.15. If is not safe to recommend buying in the current situation. Safe buying will take place above 186.20. The British pound managed to give an upside breakout against the US dollar, but failed to get the same result against the JPY. The pound continues its winning streak for 6 weeks in a row. The pair has support at 184.89 and 183.99. In case if the prices are close above186.15 on a daily basis, the pair challenges 186.90, 187.45, and 188.30. On the down side, in case if the price falls below 184.89, they can correct up to 184.70, 184.50, and 184.00. The panic will be triggered below 183.90. In the hourly chart, the prices are forming a continuous symmetric triangle. At yesterday's session, we recommended risky trade, buying above 185.60 with an immediate target at 186.00 and 186.10. All the targets met, the pair made high at exactly 186.10. As for bears, we recommend selling below 184.50 with the targets at 184.30, 184.00, and 183.60. Risky traders can sell below 184.70. Risky traders can sell below 185.00. The intraweek trading pattern is framed between 184.50 and 186.10. Either side breakout will provide further room to trade.

Trade:

Buying above 186.20.

Risky selling below 185.00.

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Review and intraday trading recommendations of GBP/USD for November 27, 2014 Market Analysis Review

GBP/USD

Finally, the cable gave an upside breakout of the trading range between 1.5590 and 1.5737. At yesterday's session, the pound gained almost 100 pips and closed at the highest point. The pair has resistance at 1.5810 or 20Dsma. As of now, today the pair is unable to breach previous day's high. The mixed US data made the US dollar down against most of the pairs. As of now, on the weekly chart the cable formed a double bottom at 1.5590. In case if the cable holds 1.5590, the double bottom can turn to a triple bottom on the weekly chart. In case if this happens, we can expect some technical bounce towards 1.5810 and 1.5880. We recommend fresh buying above 1.5810 with the targets at 1.5850 and 1.5880. At yesterday's session, we recommended buying at 1.5740 with the targets at 1.5770, 1.5800, 1.5850, and 1.5880. We gained 60 pips in an intraday session. We are giving the same recommendation today as well. Traders who bought yesterday session, move your stop loss to 1.5770. On the down side, the pair will face selling pressure only below 1.5735. So, we recommend selling below 1.5735 with the targets at the 1.5679, 1.5655, and 1.5630 levels.

Trade:

Fresh buying above 1.5810.

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Technical analysis of EUR/USD for November 27, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Prelim CPI m/m, Spanish Flash CPI y/y, German Unemployment Change, M3 Money Supply y/y, Private Loans y/y, Italian 10-y Bond Auction, Spanish HPI q/q, and GfK German Consumer Climate. The US will not release any economic data. So, amid the reports, EUR/USD will move low volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2559.

Strong Resistance:1.2551.

Original Resistance: 1.2539.

Inner Sell Area: 1.2527.

Target Inner Area: 1.2497.

Inner Buy Area: 1.2467.

Original Support: 1.2455.

Strong Support: 1.2443.

Breakout SELL Level: 1.2435.

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 November 27, 2014 Market Analysis Review

Today, Japan and the US will not release any economic data. So, there is a big probability the USD/JPY pair will move with low volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 118.33.

Resistance. 2: 118.06.

Resistance. 1: 117.79.

Support. 1: 117.46.

Support. 2: 117.19.

Support. 3: 116.27.

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



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Technical analysis of EUR/USD for November 27, 2014 Market Analysis Review

The disappointing US data weakens the US dollar further. At yesterday's session, the US dollar declined further against most major currencies. The focus shifts in today's German prelim CPI, Spanish Flash CPI, German unemployment, and OPEC meetings. The euro stood high against the US dollar and gained another 30pips. At yesterday's session, the pair faced resistance at the descending trend line on the daily chart. Today, the pair opened on a bearish note. In case, if the pair breaches 1.2531, it has another multiple resistance between 1.2575 and 1.2600. Until the pair closes below 1.2600 , bears hardly try to push the prices down. We recommend fresh intraday buying only above 1.2510 with the targets at 1.2530, 1.2575, and 1.2600. In case, the prices close above 1.2600, further 200 pips upswing will ignite. On the down side, the pair has support at 1.2486 and 1.2440. Risky traders can start selling below 1.2485 and safe traders could sell below 1.2440. For the near term, 1.2600 is the key level on the bullish front. 1.2350 and 12320 are the key support levels on the support side. The panic will be triggered below 1.2320 with the targets at 1.2250 and 1.2226 levels. In case if the prices are close below 1.2226 levels, it can extend its fall up to 1.2100 levels. The focus shifts in today's German prelim CPI, Spanish Flash CPI, German unemployment and OPEC meetings.

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Daily analysis of major pairs for November 27, 2014 Market Analysis Review

EUR/USD: Just like the Cable, this pair is making some effort to go bullish. It would not be said that the market is bullish unless price goes above the resistance line at 1.2600, which remains the target on condition that bulls succeed in pushing price upwards. There are support lines at 1.2450 and 1.2400.

USD/CHF: This market would normally go in the opposite direction to EUR/USD. A movement below the support level at 0.9550 would mean the end of the bullish bias – as a new bearish bias begins. Moreover, some fundamental figures are expected today and they may have impact on the markets.

GBP/USD: The Cable is making serious effort to go bullish and this has resulted in a new bullish outlook in the market. The distribution territory at 1.5800 is now under siege and with more exertion of bullish strength; the distribution territory could be breached to the upside, as price goes towards another distribution territory at 1.5850.

USD/JPY: This currency trading instrument is still bullish in outlook, though price has been trending sideways lately. The Bullish Conformation Pattern in the chart is still extant and when price breaks out, it would be to the upside, which may cause the market to test the supply level at 119.00.

EUR/JPY: The cross is still strong and further northward journey is expected. Price is above the EMA 11 which itself is above the EMA 56. The RSI period 14 is above the level 50, and this shows that the only logical thing to do in this market is to seek long trades .

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Daily analysis of USDX for November 27, 2014 Market Analysis Review

On the H4 chart, the USDX has made a breakout in the bullish trend line located at the level of 87.70. This instrument is likely to touch the support level of 87.35. For now, caution is recommended when placing buy orders in the USDX, as the MACD indicator remains in the negative territory.

H4chart's resistance levels: 87.93 / 88.19

H4chart's support levels: 87.35 / 87.18

In the H1 chart, the USDX is forming a lower low pattern above the support level of 87.58. The USDX has consolidated below the 200-day moving average which could start a bearish trend in the medium and long term. If the USDX takes a breakout at the support level, it would be expected to fall to the level of 87.28.

H1 chart's resistance levels: 87.86 / 88.15

H1 chart's support levels: 87.58 / 87.28

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 87.86, take profit is at 88.15, and stop loss is at 87.59.

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Daily analysis of GBP/USD for November 27, 2014 Market Analysis Review

On the daily chart, the GBP/USD pair gained a bullish momentum above the support level of 1.5746, where the pair is trying to reach the level of 1.5883. If the GBP/USD pair manages to make a breakout in that area, the next target would be the 1.6046 level. However, the GBP/USD pair could enter a phase of consolidation in the coming days due to low liquidity expected on the American markets. The MACD remains in the positive territory.

Dailychart's resistance levels: 1.5883 / 1.6046

Dailychart's support levels: 1.5746 / 1.5642

The GBP/USD pair is forming a bullish pattern below the resistance level of 1.5810. If this pair makes a pullback at the current levels, GBP/USD is likely to fall to the support level of 1.5749, although the pair is still keeping enough bullish force. The MACD indicator is entering the overbought area.

H1 chart's resistance levels: 1.5810 / 1.5871

H1 chart's support levels: 1.5739 / 1.5686

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 1.5739, take profit is at 1.5686, and stop loss is at 1.5795.

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Intraday technical levels and trading recommendations on GBP/USD for November 26, 2014 Market Analysis Review

Previously around 61.8% - 50% Fibonacci levels ( Price zone between 1.6240 and 1.6350 ), a short position was offered and it got triggered few days later. The market successfully pushed below 1.6100 shortly after.

Prominent bullish DEMAND existed around price zone of 1.5940 - 1.5880. Bullish engulfing daily candlesticks emerging off these levels paused the bearish momentum for a few days.

Then, price zone of 1.6100-1.6140 constituted a prominent SUPPLY zone. The pair has moved sideways until recent bearish breakout took place.

Daily fixation below 1.5870 has put further bearish pressure on the pair to reach 1.5780, 1.5700 and 1.5650 where the back side of the mentioned bearish channel is located.

The previous daily candlesticks represented intraday DEMAND offered around 1.5650 after such a strong bearish momentum. Sideway movement has been taking place for a whole week.

Today, the market is pushing above 1.5800 further beyond the downtrend line that has been respected for 20 days now. The GBP/USD pair has a solid Intraday SUPPLY around 1.5800-1.5820 where many important Fibonacci Levels are located.

4H chart reveals long period of downside movement roughly maintained within the limits of the depicted channel.

Last week, the bears managed to break below the recent low around 1.5790. This exposed the potential target at 1.5700 and 1.5650 where the backside of the broken channel is roughly located.

As anticipated, risky traders could have taken a BUY position around 1.5600-1.5650. It has achieved most of its targets by now.

Conservative traders are waiting for a bullish pull-back towards 1.5820-1.5860 for a low-risk SELL entry with Stop Loss located just above 1.5900.

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Technical analysis of NZD/USD for November 26, 2014 Market Analysis Review

Fundamental overview:

USD/JPY is expected to consolidate with risks skewed lower. It is undermined by the lower U.S. Treasury yields (10-year at 2.258% versus 2.308% late Monday), softer dollar sentiment (ICE spot dollar index last 87.89 versus 88.15 early Tuesday) as surprise fall in Conference Board U.S. consumer confidence index to 88.7 in November from October's 94.5 (versus forecast for rise to 96.8) and big drop in Richmond Fed manufacturing index to 4 in November from 20 in October offset unexpected upward revision in U.S. 3Q GDP to 3.9% from preliminary reading of 3.5% (versus forecast 3.3%). USD/JPY is also weighed by Japan's export sales. But USD/JPY losses are tempered by the demand from Japan's importers and Bank of Japan's large-scale easing policy.

Technical comment:
Daily chart is still positive-biased as MACD is bullish, stochastics stays elevated at overbought levels, 5 and 15-day moving averages are advancing.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 118.60. A break of this target will move the pair further downwards to 119. The pivot point stands at 118.25. In case the price moves in the opposite direction and bounces back from the support level, then it will move above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 117.40 and the second target at 117.

Resistance levels:

118.60

119

119.70

Support levels:

117.40

116.75

116.35

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Technical analysis of USD/CHF for November 26, 2014 Market Analysis Review

Fundamental overview:

USD/CHF is expected to trade with a bullish bias. It is undermined by softer USD sentiment and spillover strength from euro on the Swiss franc. But USD/CHF losses are tempered by the ultra-loose Swiss National Bank's monetary policy and franc sales on buoyant EUR/CHF as the cross rebounds further from the 1.2000 EUR/CHF floor. USD/CHF upside is limited by the softer dollar sentiment (ICE spot dollar index last 87.89 versus 88.15 early Tuesday) as surprise fall in Conference Board U.S. consumer confidence index to 88.7 in November from October's 94.5 (versus forecast for rise to 96.8) and big drop in Richmond Fed manufacturing index to 4 in November from 20 in October offset unexpected upward revision in U.S. 3Q GDP to 3.9% from preliminary reading of 3.5% (versus forecast 3.3%).

Technical comments:

Daily chart is mixed as MACD is bearish but stochastics is neutral.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9675 and the second target at 0.9720. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9580. A break of this target would push the pair further downwards and one may expect the second target at 0.9555. The pivot point is at 0.9610.

Resistance levels:

0.9675

0.9720

0.9740



Support levels:
0.9580

0.9555

0.9515

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Technical analysis of NZD/USD for November 26, 2014 Market Analysis Review

Fundamental overview:

NZD/USD is expected to consolidate with a bearish bias after hitting a two-week low 0.7764 on Tuesday. It is undermined by lower inflation expectations in the Reserve Bank of New Zealand's fourth-quarter survey, contagion from weak Aussie and soft commodity prices (CRB spot index closed down 0.13% Tuesday at 266.85). But NZD/USD losses are tempered by NZD-USD interest differential, weaker USD sentiment and Kiwi demand on soft AUD/NZD cross. Daily chart is mixed as MACD is bullish, but stochastics is in bearish mode.

Technical Comment:

Daily chart is mixed as MACD is bullish, but stochastics is in bearish mode.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.7765. A break of this target will move the pair further downwards to 0.7735. The pivot point stands at 0.7855. In case the price moves in the opposite direction and bounces back from the support level, then it will move above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.7885 and the second target at 0.7910.

Resistance levels:

0.7885

0.7910

0.7945

Support levels:

0.7765

0.7735

0.77

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Technical analysis of GBP/JPY for November 26, 2014 Market Analysis Review

Fundamental overview:

GBP/JPY is expected to consolidate. It is supported by the buoyant GBP/USD and demand from Japan's importers. But GBP/JPY upside is limited by Japan's export sales and softer USD/JPY undertone. GBP sentiment is boosted after BOE Gov. Carney told U.K. Parliament's treasury committee that the central bank's Monetary Policy Committee hasn't discussed the need for further stimulus, playing down the risk of deflation in the U.K. and that officials' deliberations remain focused on the timing and degree of an eventual tightening in policy. Daily chart is mixed as MACD is bullish but stochastics is bearish at overbought levels.

Technical comment:

Daily chart is mixed as MACD is bullish but stochastics is bearish at overbought levels.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 186.30 and the second target at 186.75. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 184. A break of this target would push the pair further downwards and one may expect the second target at 183.35. The pivot point is at 184.70.

Resistance levels:

186.30

186.75

187.25

Support levels:

184

183.35

182.80

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EUR/NZD : analysis for November 26, 2014 Market Analysis Review

Overview:

In our last analysis, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5999 in an average volume. According to the 4H time frame, we can oberve an absorption volume like we expected. Our Fibonacci retracement 38.2% at the price of 1.5945 is on the test. If the price breaks the level of 1.5945 in a high volume and strong price action, we may see potential testing the level of 1.6135. Be careful when selling EUR/NZD since we got absorption volume in the background. Watch for potential buying opportunities on the lows.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.6003

R2: 1.6050

R3: 1.6126

Support levels:

S1: 1.5851

S2: 1.5804

S3: 1.5728

Trading recommendations: Be careful when selling EUR/NZD since we got a strong absorption volume in the background.

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Gold : analysis for November 26, 2014 Market Analysis Review

Overview :

Since our last analysis, gold has been trading sidewas around the price of 1,200.00. We are facing another low volume day, which is a sign that buying at this stage looks risky. According to the daily time frame, we can observe weak demand, which is a sign that buying looks risky. I have placed Fibonacci expansion to find potential support levels and I got Fibonacci expansion 61.8% at the price of 1,194.00 (successfully tested), Fibonacci expansion 100% at the price of 1,188.00 and Fibonacci expansion 161.8% at the price of 1,177.00. If the price breaks the level of 1,194.00 in a high volume and strong price action, we may see potential testing the level of 1,188.00. According to the 1H time frame, we can observe fail absorption volume, which is a sign that buyers don't have power for a larger bullish movement. Be careful when buying at this stage but watch for buying opportunities after a bearish corrective phase.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,202.97

R2: 1,205.89

R3: 1,210.63

Support levels:

S1: 1,193.49

S2: 1,190.57

S3: 1,185.83

Trading recommendations: Watch for potential buying opportunities after retracement (buy on the lows).

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Technical analysis of AUD/USD for November 26, 2014 Market Analysis Review

Overview :

• The AUD/USD pair had fallen from the strong level of 0.8575 and extended further to as low as 0.8536 yesterday. So, the first resistance had placed at th level of 0.8575 since yesterday. Also, it should be noted that the minor resistance will form at 0.8536. Then, according to previous events, the price is going to move between 0.8536 and 0.8460 in the short term. The price of 0.8460 will form a new double bottom in H1 chart. Furthermore, the price has set below 23.6% of Fibonacci retracement levels, for that we expect a saturation around the level of 0.8575 or/and 0.8536. Consequently, it is probably that the market will start showing the signs of bearish market again in order to indicate a bearish opportunity from the level of 0.8536. Accordingly, sell below the level of 0.8536 with the first target at 0.8500, besides it will call for a downtrend in order to continue bearish towards 0.8460 in order to create a new bottom. On the other hand, if bears will have forced to pullback above the level of 0.8575 and buyers will be able to break this level, therefore the best solution is to set a stop loss at the price of 0.8593.

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Technical analysis of EUR/USD for November 26, 2014 Market Analysis Review

Overview :

• The EUR/USD pair is trading between the levels of 1.2360 and 1.2480 (those levels coincide with the Fibonacci retracement levels 00% and 50% respectively). It should be noted that the 1.2508 price will act as a strong resistance because it represents the ratio of 61.8% Fibonacci retracement levels in H1 chart. Moreover, the weekly pivot point has always set below the resistance and it will act as a minor resistance around the area of 1.2451. Therefore, it will be rather gainful to sell below the levels of 1.2508 or 1.2451 and look for further downside with 1.2357 and 1.2360 targets. It should also be reminded that the double bottom will set at the point of 1.2360; but the weekly support 1 has already been found at 1.2310. On the other hand, stop loss should always be taken in account, consequently, it will be of beneficial to set the stop loss above the resistance 1 at the price of 1.2540; because the stop loss must never exceed the maximum exposure amounts.

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Elliott wave analysis of EUR/NZD for November 26 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 1.6004

R2: 1.5993

R1: 1.5972

Current spot: 1.5944

S1: 1.5917

S2: 1.5878

S3: 1.5849

Technical summary:

The correction we where looking for towards 1.5805 is currently unfolding. Short term, we expect minor resistance at 1.5972 will protect the upside for a break below minor support at 1.5917 and more importantly below support at 1.5878 confirming the decline to 1.5805, before this correction is over.

Trading recommendation:

We are looking for a EUR-buy possibility near 1.5805.

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Elliott wave analysis of EUR/JPY for November 26 - 2014 Market Analysis Review

Today's support and resistance levels:

R3: 147.43

R2: 147.27

R1: 147.04

Current spot: 146.65

S1: 146.55

S2: 146.27

S3: 146.03

Technical summary:

The correction towards 142.06 is still unfolding. We are currently looking for a break below minor support at 146.55 to confirm the strong decline towards 143.82 on the way lower towards 142.06 to end the correction from 149.13. At this point only an unexpected break above 147.39 will delay the expected decline towards 142.06.

Trading recommendation:

We are short in EUR from 146.90 with stop place at 147.50. If you are not short in EUR yet, then sell near 146.85 with the same stop at 147.50.

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Gold Technical analysis for November 26, 2014 Market Analysis Review

Gold price is trading very nervously still inside a trading range of $1,208 and $1,189. Ichimoku indicators remain bullish but with the tendency to change to neutral. Price is below the important resistance and pivot point of the 61.8% retracement of the decline from $1,255. Bulls should keep their stops tight as the down trend could resume any time.

Red line = support

Black lines = triangle

Gold price is trading inside a triangle pattern. Resistance is found at $1,204-$1,207 and support at $1,189-$1,193. Breaking either level will push price towards $1,225 or $1,170. Price is above the Ichimoku cloud and above the red trend line support. Breaking below the triangle will increase the chances of breaking below the support levels and push towards $1,145.

Red line = resistance

Black line = support

The short-term chart above shows the choppy action in Gold the last few days. There is no clear impulsive action from $1,130 and I believe that this upward move is only a correction against the bigger down trend. Prices usually reverse around the 61.8% retracement levels and this is what I expect to happen in Gold as long as price remains below $1,208.

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Technical analysis of USD/CAD for November 26, 2014 Market Analysis Review

General overview for 26/11/2014 08:40 CET

The corrective cycle in wave -iv- blue looks to be completed as the price has broken below the yesterday's low. The leading diagonal scenarios, marked on the chart with thick blue lines, is still possible and all the requirement has been met so far except the last fifth wave to the downside. To complete this structure, the price should break below the level of 1.1230 and then finally below the level of 1.1190 before any meaningful correction will happen. Moreover, in that case the alternative count will be invalidated.

Support/Resistance:

1.1437 - WR2

1.1368 - Key Level

1.1326 - WR1

1.1276 - Intraday Resistance

1.1258 - Weekly Pivot

1.1224 - WS1

Trading recommendations:

Yesterday's buy trade has been closed as the price has hit our trailing stop loss order with profit. Currently, another trade setup might be considered by day traders: classical breakout trade using sell stop order from the level of 1.1230 with SL above the level of 1.1276 and TP at the level of 1.1190.

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Technical analysis of EUR/JPY for November 26, 2014 Market Analysis Review

General overview for 26/11/2014 08:20 CET

The corrective cycle inside the wave (ii) or b green is still in progress and two key levels have been marked on the chart. The upper key level is the most important for bears as any violation of it would lead to more intraday gains with the projected targets at the levels of 147.98 and 149.14. On the other hand, the breakout below the lower key level would be the most important for bulls, because it might lead to corrective cycle extension down to the levels of 145.58 before any meaningful bounce/resumption will happen.

Support/Resistance:

149.14 - Swing High

148.50 - Intraday Resistance

147.98 - WR1

147.38 - Intraday Resistance

146.30 - Intraday Support

146.38 - Weekly Pivot

145.67 - Technical Support

145.84 - Intraday Support

Trading recommendations:

The SL for the opened buy trade recommended at the beginning of the week should be placed below the intraday support at the level of 146.30 and TP level in longer term should aim for the level of 147.98 and 149.14.

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Technical analysis of EUR/JPY for November 26, 2014 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair is trading at 146.50/60 levels for now, after breaking below the immediate trend line support and having met with resistance at 147.40 levels yesterday. Please note that 145.50 level remains critical to determine short-term direction for the pair. It is expected to print higher highs towards 151.00 and 154.00 till 145.50 remains intact, while a break there could confirm a deeper correction towards 141.00/142.00 levels (outer trend line support) before the rally resumes. It is recommended to hold long positions for now, risk at 145.50 levels.

Trading recommendations:

Remain long, stop at 145.50, the targets are at 151.00 and 154.00 respectively.

Good luck!

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Technical analysis of GBP/CHF for November 26, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is pulling back and looking to form base again at 1.5130/40 levels. The pair is expected to push higher towards 1.5250/70 levels before a meaningful pullback can take place. It is recommended to remain long for now and also look to add fresh long positions, risk is at 1.5000 levels. Support is seen at 1.5025, followed by 1.4950 and lower while resistance is seen at 1.5300, followed by 1.5450, and 1.5550 respectively. Bulls are possibly looking to push higher into 1.5300 at least. Please note that 1.53 is past support turned resistance and a reaction could be expected there.

Trading recommendations:

Remain long, stop at 1.5000 or break even, the target is between 1.5270/1.53.

Good luck!

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Technical analysis of Silver for November 26, 2014 Market Analysis Review

Technical outlook and chart setups:

Silver seems to be pushing higher towards fibonacci 0.618 resistance of the drop from $17.80 to sub $15.00 levels as seen here. Please also note that the sloping trend line resistance is also seen at the same levels. A bearish reaction there could see the metal reversing lower and targeting below $15.00 levels. On the flip side, a push through, could see $17.00 and $17.30 levels at least. It is recommended to remain long on remaining positions, move risk to break even levels. Support is seen at $16.00/20, followed by $15.20/30 and lower while resistance is seen at $17.40/50, followed by $17.80/18.00 levels and higher up respectively.

Trading recommendations:

Remain long, move stop to break even levels, the target is at $17.30.

Good luck!

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Technical analysis of Gold for November 26, 2014 Market Analysis Review

Technical outlook and chart setups:

Gold has met the minimum criteria and rallied into $1.207.00 levels before pulling back. The metal needs to break below $1,175.00 mark to confirm that a meaningful lower top has been made at $1,207.00 levels. Bulls, seem to be determined to hold prices above $1,190.00 levels for now and push it even higher. A break above $1,208.00 levels, could see the metal rising up to $1,235.00 and $1,255.00 levels as well. It is recommended to hold remaining long positions for now, risk remains at $1,1750.00. Support is seen at $1,175.00, followed by $1,145.00, $1,130.00 and lower while resistance is seen at $1,235.00, followed by $1,255.00 and higher respectively.

Trading recommendations:

Hold long positions, stop at $1,175.00, the target is up to $1,255.00

Good luck!

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