Technical analysis and trading recommendations on Gold for March 25, 2015 Market Analysis Review

The yellow metal extended its 5-day winning streak yesterday. The FOMC meeting filled the downbeat yellow metal with life. The metal is trading at a 2-week high. After China's tepid PMI data, the metal was pushed to $1,185.60. The metal took the parallel support at $1,185.00 changing its direction. The metal took support twice at $1,185.00 at yesterday's session. The trading pattern has been framed between $1,195.00 and $1,185.00. The pair made a 12hr high at $1,194.60. We recommend fresh buying ONLY above $1,195.00 and selling below $1,185,00. Nothing changed in terms of the fundamental and technical outlook for gold. Only the US dollar is losing its strength. We can expect the metal to challenge towards $1,200.00 and $1,206.00, in case the price breaches above $1,195.00. Intraday support is found at $1,185.00. We recommend selling below $1,185.00 with targets at $1,179.00, $1,177.50, $1,173.00, and $1,167.00 with sl $1,188.00. Weekly support is seen at $1,1770.00 and $1,167.00. Ahead of US series of data, gold is trading on a lower bias. In case the data turns out above expectations, we can expect a USD rally and gold prices under pressure.

Trade: buying above $1,195.00.

Selling below $1,185.00.

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Technical analysis of Gold for March 25, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is seen to be preparing to drop lower towards at least $1,175.00 if not further. The metal can bounce back from the level of $1,175.00 or $1,160.00 and resume moving towards $1,220.00/23.00. It is recommended to remain flat for now and look for an enter at lower levels on a bounce appearing on hourly charts. Immediate support is seen at $1,175.00 , followed by $1,162.00, $1,140.00/43.00, and lower while resistance is seen at $1,224.00/25.00 respectively. Bulls should push through initial resistance to install further confidence.

Trading recommendations:

Flat for now. Looking to buy lower again.

Good luck!

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Daily analysis of major pairs for March 25, 2015 Market Analysis Review

EUR/USD: The outlook for this pair is still bullish and in spite of the present shallow bearish retracement, it is assumed that the price may rally anytime soon (not going below the support lines at 1.0900 and 1.0850). The resistance line at 1.1000 may be tested; it may even be breached to the upside.

USD/CHF: Since March 12, 2015, the USD/CHF pair has dropped by over 500 pips, resulting in a clean Bearish Confirmation Pattern in the 4- hour chart. The support levels at 0.9500 and 0.9450 are the next targets for bears. Unless USD gains a measure of stamina, those support levels would be breached to the downside.

GBP/USD: Unlike its EUR/USD counterpart, the cable is having some difficulties going upward. In fact, long trades are no longer recommended here, unless the distribution territories around 1.5000 and 1.5050 are overcome. Meanwhile, there is a great possibility that the accumulation territories at 1.4800 and 1.4750 would be tested.

USD/JPY: This is a bear market, in spite of the probable bullish expectation on the currency trading instrument. For the bias to turn bullish, the price would need to settle above the EMA 56 and the RSI period 14 would also need to settle above the level of 50. Otherwise, buyers should stay off.

EUR/JPY: The price on this cross did not make a significant bullish movement yesterday. The market is in a short-term equilibrium zone, but there might soon be a breakout to the upside. The supply levels at 131.50 and 132.00 are being watched now.

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Elliott wave analysis of EUR/NZD for March 25 - 2015 Market Analysis Review

Technical summary:

We have seen a small expanded flat correction as green wave ii and is looking for an extended green wave iii higher to 1.4576 soon. Ideally, we will see support at 1.4260 protecting the downside for a break above minor resistance at 1.4334 and more importantly above 1.4343 confirming the rally to 1.4576. In the longe term, we are looking for a break above resistance at 1.4631 to confirm that a firm bottom is in place at 1.4128 and a new impulsive rally is prepearing.

Trading recommendation:

Our stop+reverse at 1.4315 was hit for a nice profit and now we are going to place our stop at 1.4120 expecting to be able to raise the stop quickly.

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Elliott wave analysis of EUR/JPY for March 25 - 2015 Market Analysis Review

Technical summary:

We have five waves down from 149.55, which could indicate a bottom in place. But the rally of the 126.87 low is not impulsive, at least not yet. So, we have to use the facts we do have. They say the overall pressure remains directed to the downside for a final decline closer to 125.98 as long as resistance at 131.74 protect the upside. A break below 130.00 followed by a break below support at 129.26 is going to add more downside pressure. A break above 131.74 and more importantly a break above resistance at 133.39 (the bottom of red wave i) will confirm that a firm bottom is in place.

Trading recommendation:

Our stop at 130.35 was hit for a little, but nice profit. We will place a EUR-sell order at 129.85 and a EUR buy-order at 131.80 (one order done cancels the other)

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Technical analysis and trading recommendation of EUR/USD for March 25, 2015 Market Analysis Review

FRENCH:

Flash France Manufacturing PMI rose to a 2-month high of 48.2 (47.6 in February), Flash France Services Activity Index fell to a 2-month low of 52.8 (53.4 in February), .

GERMANY:

Flash Germany Manufacturing PMI hit a 8-month high of 52.4 (51.1 in February). Flash Germany Services Activity Index clinbed to a 6-month high of 55.3 (54.7 in February).

EUROZONE:

Flash Eurozone Manufacturing PMI is at 51.9 (51.0 in February). That is a 10-month high.

Flash Eurozone Services PMI Activity Index(2) is at 54.3 (53.7 in February). That is a 46-month high.

The euro was pushed above 1.10. This may be the initial sign of the euro zone economy is achieving momentum.

Upcoming data:

Today, traders eye on thr German Ifo business climate. From November 2014 onwards, the data printed an uptick. In February, data were weaker than expected. Now, we expect an uptick again.

Technical view:

The euro extended its pullback story yesterday as well, but at the end of the US session bulls gave up. Finally, the currency erased its intraday gains and closed with losses. Now, the euro is getting stronger. The main reason behind the sharp pullback is the US dollar is weaker after the FOMC meeting. The pair managed to hold 20Dsma at the yesterday's session. Today, at the early Asian session, the euro is trading lower against the greenback. USD rebounds against the euro and pair is trading below 1.1000. The intraday trend turns to bearish, based on hourly moving averages. Intraday resistance is seen at 1.0953 and support is likely to be found at 1.0890. We recommend fresh selling below 1.0880 with targets at 1.0770, 1.0750, and 1.0690. An intraday week view remains at buy with sl 1.0770. This is based on a purely technical view. However, I think the pair is likely to close above 1.1045 and bears will try to regain the control. Hopefully, bulls' honeymoon is over. A daily close below 1.0770 shows that bulls are losing grip.

Bulls must try to close above 1.1045

Bears must try to close below 1.0768.

The above levels on closing basis, can change the current change. Until 250 pips trading range will play a role.

Weekly support is seen at 1.0768 and 1.0700. Bulls will have an upper hand until the pair closes above 1.0768, but limited upside.

Trade: Selling below 1.0880

Key technical levels of the euro against USD/JPY/CAD/GBP and AUD

EUR/USD-Weekly mode favors buying with sl 1.0768. Intraday turned favors to bears

EUR/JPY- Weekly mode favors buying with sl 129.67. Intraday turned favors to bears

EUR/CAD. Weekly mode favors buying with sl 1.3600 with a likely target at 1.3800. Double top formation at 1.3746

EUR/GBP. Weekly mode favors buying with sl 0.7250 with a likely target at 0.7430 (buying was advised on Monday above 0.7305).

EUR/AUD. Fresh selling below 1.3820.

The above analysis is based on the h4 chart. We will re-analyze if the weekly trend changes. The euro has been trading like a mirror image against USD & JPY.

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Technical analysis of EUR/USD for March 25, 2015 Market Analysis Review

When the European market opens, some economic data on German Ifo Business Climate are due for release. The US is expected to publish economic data about Crude Oil Inventories, Durable Goods Orders m/m, and Core Durable Goods Orders m/m/. Amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0958.

Strong Resistance:1.0952.

Original Resistance: 1.0941.

Inner Sell Area: 1.0930.

Target Inner Area: 1.0905.

Inner Buy Area: 1.0880.

Original Support: 1.0869.

Strong Support: 1.0858.

Breakout SELL Level: 1.0852.

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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