USDCAD Daily Analysis - January 26, 2015 Forex Analysis

USDCAD remains in uptrend from 1.1560. Near term support is at 1.2250, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.2700 area. Key support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

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USDJPY Daily Analysis - January 26, 2015 Forex Analysis

USDJPY remains in short term uptrend from 115.85, the fall from 118.86 is likely consolidation of the uptrend. Further rise to test 120.82 resistance could be expected after consolidation, a break of this level will signal resumption of the longer term uptrend from 101.06 (Jul 10, 2014 low), then the following upward movement could bring price to 125.00 area.

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AUDUSD Daily Analysis - January 26, 2015 Forex Analysis

AUDUSD remains in downtrend from 0.8294, and the fall extended to as low as 0.7857. Further decline could be expected after a minor consolidation, and next target would be at 0.7600 area. Resistance is at 0.8000, as long as this level holds, the downtrend will continue.

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GBPUSD Daily Analysis - January 26, 2015 Forex Analysis

GBPUSD's downward movement from 1.5785 extended to as low as 1.4950. Further decline could be expected, and next target would be at 1.4700 area. Resistance levels are at 1.5100 and 1.5268, only break above these levels could signal completion of the downtrend.

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EURUSD Daily Analysis - January 26, 2015 Forex Analysis

EURUSD's downward movement from 1.2569 extended to as low as 1.1097. Further decline could be expected after a minor consolidation and next target would be at 1.0800 area. Near term resistance is at 1.1350, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

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EUR/AUD intraday technical levels and trading recommendations for January 23, 2015 Market Analysis Review

The depicted charts of the EUR/AUD pair illustrates a prominent downtrend on both the daily and weekly charts.

The WEEKLY chart shows a long-term Head and Shoulders reversal pattern being established with neckline roughly located around 1.4050.

The daily chart shows:

- The recently broken SUPPORT level at 1.4230 where the previous multiple prominent bottoms were established back in November 2014. Today, this may constitute an intraday resistance.

- The recent RESISTANCE level around 1.4400 where a newly established congestion zone was breached last week.

On the other hand, a bearish FLAG pattern is being established above 1.4050 (H&S pattern's neckline). Confirmation requires DAILY closure below 1.4050-1.4000.

Estimated projection target would be located around 1.3820.

On the other hand, daily persistence above 1.4240 pauses the current bearish momentum giving more time for corrective movement towards 1.4400 for retesting.

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Gold analysis for January 23, 2014 Market Analysis Review

Overview :

Since our last analysis gold has been trading sideways around the price of 1.295.00. I have found support around the price of 1,281.00 (swing high like support), and this level is successfully resisted. According to the H4 time frame, we can observe weak supply in a volume below the average, which is a sign that selling gold at this stage looks risky. Be careful when selling gold and watch for potential buying opportunities on the lows. We have resistance levels at the price of 1,304.00 and 1,344.00.

Daily Fibonacci pivot points :

Resistance levels :

R1: 1,306.83

R2: 1,313.61

R3: 1,324.57

Support levels :

S1: 1,284.91

S2: 1,278.31

S3: 1,267.17

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

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