Technical analysis of Silver for January 26, 2015. Market Analysis Review

Technical outlook and chart setups:

Silver cleared its initial extension at $18.30/40 levels last week. The metal could be poised to push higher towards $18.90 levels, the next extension. Please note that the metal has already moved, unfolding an inverted head and shoulder reversal since $15.50 levels. One should not be surprised to see $21.00 levels being hit soon enough. Immediate support is seen at $17.90 levels, followed by $17.40/50 and lower while resistance is seen at $18.90/19.00 levels and higher respectively. It is recommended to keep buying on dips as a simple trading strategy. A long-term bullish trend might have already resumed.

Trading recommendations:

Look to buy on each dip.

Good luck!

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 Silver for January 26, 2015. . Thanks for your support.

Technical analysis of EUR/JPY for January 26, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair has dropped by 5 waves down from 149.80 to sub 131.00 levels, depicted with arrows here. It looks like the pair is preparing for a counter trend rally that could extend towards 142.30 levels. Immediate support is seen at sub 130.00 levels, while resistance is seen at 133.00 respectively. A break above 133.00 would confirm that the rally has resumed and it would be recommended to initiate long positions on dips there after. As discussed earlier, the bigger picture indicates that EUR/JPY might be heading into a deeper correction lower towards 115.00/116.00 levels. For now, a 3-wave counter trend rally seems more probable.

Trading recommendations:

Could buy on dips after 133.00 breaks.

Good luck!

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/JPY for January 26, 2015 . Thanks for your support.

Daily analysis of USDX for January 26, 2015 Market Analysis Review

The bullish momentum at the USDX seems to be unstoppable, because during the last session, the USDX did a strong breakout at the 94.18 level. Now, the next resistance zone on this instrument is the level of 97.52. Currently, from the technical view, the USDX is overbought, as the MACD indicator is reaching those extreme levels in the upside and the USDX could start to form a bullish pattern.

We can see on the H1 chart a bullish formation above the support level of 94.38 and the near-term resistance is at the level of 95.48, the latest Friday's high. The 200 SMA is still bullish, but the MACD indicator is bearish. Anyway, we cannot neglect the fact that the USDX was performing a retracement to favor the current bullish bias. Because of it, this instrument could make a breakout at the resistance level of 95.48 with a target placed at the 96.63 level.

Daily chart's resistance levels: 97.52 / 99.17

Dailychart's support levels: 94.18 / 93.02

H1 chart's resistance levels: 95.48 / 96.63

H1 chart's support levels: 94.38 / 94.02

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 95.48, take profit is at 96.63, and stop loss is at 94.32.

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 Daily analysis of USDX for January 26, 2015 . Thanks for your support.

Daily analysis of GBP/USD for January 26, 2015 Market Analysis Review

The GBP/USD pair is trying to reach new low levels during this week, as this pair peformed a breakout at the support level of 1.5025. It opened the way for more falls to the support level of 1.4853 that could be reached in the coming days. Also, the main bias on the GBP/USD pair remains very bearish, because the 200 SMA is still pointing to the downwards.

On the H1 chart, the GBP/USD pair is currently forming a lower low pattern below the 200 SMA. Besides, this pair seems to have formed a double top pattern next to the resistance level of 1.5030. Currently, the short-term targets remain at the 1.4927 and 1.4849 levels, as the GBP/USD continues to stay bearish at least in the short term. The MACD indicator stays in the positive territory, but in the coming days, that situation could change.

Daily chart's resistance levels: 1.5025 / 1.5247

Dailychart's support levels: 1.4853 / 1.4714

H1 chart's resistance levels: 1.5000 / 1.5084

H1 chart's support levels: 1.4927 / 1.4849

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 1.4927, take profit is at 1.4849, and stop loss is at 1.5006.

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 Daily analysis of GBP/USD for January 26, 2015 . Thanks for your support.

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.

For more short term forex analysis and info visit via USDCAD Daily Analysis - January 26, 2015 . Thanks for your support.

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.

For more short term forex analysis and info visit via USDJPY Daily Analysis - January 26, 2015 . Thanks for your support.

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.

For more short term forex analysis and info visit via AUDUSD Daily Analysis - January 26, 2015 . Thanks for your support.