#USDX Technical analysis for November 20, 2014 Market Analysis Review

The Dollar index remains inside its sideways trading range. I do not expect the Dollar index to continue much longer inside this range but until it breaks out I need to remain patient and wait for a valid signal. The Dollar index remains in a longer-term up trend and has not given any signs that bulls should exit their long positions yet.

Black line = support

Red line = resistance

The Dollar index contnues to trade on top of the Ichimoku cloud. The sideways consolidation could very well be a bullish flag within the longer-term bullish flag I have previously mentioned. If the Dollar index breaks above 88.15, we should expect an upward move towards 91. If the Dollar index breaks below 87, we should expect a pull back towards 86 at least.

Red line = resistance

Blue line = support

The Dollar index remains in a longer-term up trend and the ichimoku cloud indicators support this. The bullish flag pattern remains valid with 91 as my 1st target. Now, that we could have a smaller bullish flag inside this larger bullish flag, the bullish scenario has more chances of success than the bearish one (pull back towards 86 or lower).

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Gold Technical analysis for November 20, 2014 Market Analysis Review

Gold price reversed strongly from the 61.8% retracement yesterday and broken short-term support levels. However, the price bounced back strongly to re-test $1,200 only to continue back below $1,190 today. The short-term trend is neutral. Breaking below $1,170 and $1,145 are the signs bears are looking for the resumption of the down trend. I remain longer-term bearish targeting $1,050.

Red line = resistance

Blue line = support

Gold price is consolidating near its highs. Support today is at $1,170-74 and resistance at $1,204. From yesterday's high, Gold price is making lower lows and lower highs in the 30 minute chart I show above.

Gold price has reached the 61.8% retracement and got rejected. However, price remains above the ichimoku cloud and above the black supportive trend line. The kijun-sen support is at $1,175. A 4-hour close below $1,175 will signal more downside is to expected towards at least $1,150. If support at $1,145 fails to hold prices and if Gold price breaks below the cloud, then I will have confirmation of the start of the new downward move towards $1,050.

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Technical analysis of Silver for November 20, 2014 Market Analysis Review

Technical outlook and chart setups:

Silver looks to have done with its retracement at $15.70/80 levels as expected earlier. The metal could be looking to turn around and resume its rally from current levels, $16.15/20. It is still recommended to remain long and also look to add positions now, for higher upside targets towards $17.00 and $17.30 levels as shown here. Support is seen at $15.20/30, followed by $15.00 while resistance is seen at $16.50 (interim), followed by $17.30, $17.60/60, $17.80/18.00 and higher respectively. A push above $16.50 from current levels would confirm that bulls are here to remain for a longer time.

Trading recommendations:

Remain long, stop at $15.30, the target is open.

Good luck!

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Technical analysis of Gold for November 20, 2014 Market Analysis Review

Technical outlook and chart setups:

Gold has completed retracement around $1,175.00 levels for now and is looking to resume rally towards $1,208.00 and higher up. It is recommended to enter long positions now ($1,183.00), risk at $1,140.00. The metal could be seen targeting $1,208.00 levels at least and if breaks higher, then $1,250.00/60.00 could be well on cards. Support is seen at $1,140.00/45.00, followed by $1,030.00, while resistance is seen at $1,205.00 (interim), followed by $1,235.00, $1,250.00 and higher respectively. On the other hand, a bearish reaction at $1,208.00 could bring back bears in control and the metal could continue to slide below $1,030.00.

Trading recommendations:

Initiate long positions now at $1,1,83.00,stop $1,140.00, the target is open.

Good luck!

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Technical analysis of EUR/JPY for November 20, 2014 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair is targeting fresh highs each trading day as seen here. The fibonacci extensions are pointing towards 150.00 and 153.00/154.00 as potential upside targets. It is recommended to buy on intraday/interday dips for now. Immediate support is seen at 145.00, followed by 143.00/142.00 and lower while resistance is seen at 150.00, followed by 154.00 (fibonacci extensions), respectively. Any dip or retracement towards 146.50 levels could be considered as an opportunity to initiate long positions, with risk below 145.00. Bulls seem to be in complete control for now and short selling should be avoided for now.

Trading recommendations:

Flat for now, looking to go long around 146.50 levels.

Good luck!

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Technical analysis of GBP/CHF for November 20, 2014 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair breaks below 1.4975 mark and bounces off sharply towards 1.5020/30 levels as seen here. The expected fall from 1.5400/50 levels looks to be complete at least for now. A meaningful corrective rally could be underway any time now. Please note that the pair has also produced a morning star on the 4H view here, indicating a potential reversal ahead. Interim support is seen at 1.4950/40 while resistance is seen at 1.5300 (past support turned resistance), followed by 1.5450, 1.5475 and 1.5550 respectively. An aggressive way to trade could be to initiate long positions, risk below 1.4940.

Trading recommendations:

Aggressive trade is to go long now, stop at 1.4910, the target is open. Conservative trade is to remain flat and wait to sell higher.

Good luck!

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Technical Analysis on EUR/USD for November 20, 2014 Market Analysis Review

The pair closed with marginal profits in yesterday's session. After 14 sessions, the pair managed to closed above 20Dsma. The prices are facing resistance at 200hrsma and 200hrema at 1.2610, the pair made a high at 1.2600. We recommend fresh buying above 1.2620 with the targets at 1.2640 and 1.2680. The prices are taking support at intraday 12ema levels and hourly 34hrsma. The support levels exist at 1.2524 and 1.2513. We recommend speculative selling below 1.2500 with the targets at 1.2475 and 1.2445. The panic will be triggered below 1.2440 with the targets at 1.2415 and 1.2360. Ahead of the economic events, the cable is trading in a silent mode with negative shades. Today, traders are turning attention on US CPI and jobs data. In the euro region, French and Spanish manufacturing, flash services data will be published. Tomorrow, ECB president Draghi's speech will give clear direction for the near- and short-term basis. On the downside, the pair has support at 1.2350, below this, 1.2226 is the major support level.

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