Elliott wave analysis of EUR/JPY for April 30 - 2015 Market Analysis Review

Technical summary:

A break above the base-channel resistance-line was, in fact, a strong acceleration higher with the first extension target at 131.90. A rally through this resistance was seen for a continuation higher to the 200% extension target at 132.95. Now, the broken base channel resistance-line near 131.22 should ideally provide the support for the next rally to 134.65 but even if blue wave iv moves back into the base-channel, it should not move below 130.36 before the next rally towards 134.65.

Trading recommendation:

We are long EUR from 128.85 and will move our stop higher to 130.20. If you are not long EUR yet, then buy EUR near 131.22 with the same stop at 130.20.

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Technical analysis of EUR/JPY for April 30, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY cleared the resistance at 131.50 yesterday as we can see on the 4-hour chart view. We reccomend to buy on dips from here on. The area of interest to initiate long positions is seen around 128.00/129.00. Also note that fibonacci 0.618 support and the resistance turned support trend-line is also converging around the same region. It is recommended to initiate long positions around 128.00/129.00 on a bullish bounce. Immediate support is seen at 130.30 followed by 128.00 and lower while resistance is seen at 134.00 and higher respectively.

Trading recommendations:

Flat for now. Looking to buy lower.

Good luck!

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Technical analysis of USD/CAD for April 30, 2015 Market Analysis Review

General overview for 30-04-2015 07:50 CET

Despite the general bad news from the US, the US dollar has started to show some signs of a rebound that is possible in the near term. The first clue of a possible reversal coming is important support in form of Fibonacci cluster between the levels of 1.1986 (July 2014 low) and 1.2023 (July 2011 low). The second clue came from a clear and simple bullish divergence between the price and momentum oscillator. The third clue that supports the view of a possible reversal is a completed WXY corrective pattern in wave 4 green, which means there should be one more wave to the upside made to complete the higher degree structures. The first hurdle to overcome is the golden trend line dynamic resistance and the technical resistance at the level of 1.2087, so any break out above this zone will be considered bullish.

Support/Resistance:

1.1944 - Local Low

1.1986 - 38%Fibo

1.2023 - 23%Fibo

1.2086 - Technical Resistance

Trading recommendations:

Daytraders and swingtraders should consider to open buy orders from current price levels or wait for a break out above the level of 1.2086 as a confirmation of a valid buy setup. Rather tight SL should be used here (20-30 pips) and TP is open for now.

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for April 30, 2015 . Thanks for your support.

Technical analysis of Silver for April 30, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver is trading around $16.50 at the moment and is expected to find support at $16.00 before it resumes its uptrend. Please note that the level of $16.00 is also the fibonacci 0.618 support for the recent rally between $15.60 and $16.70. It is recommended to remain flat for now and look to enter buying lower around those levels. Bulls are expected to regain control around $16.00 if ut gets reached. Immediate support is seen at $16.30 followed by $15.80, $15.30, and lower. Resistance is seen at $17.40/50 followed by $18.40/50 and higher respectively.

Trading recommendations:

Remain flat now.

Good luck!

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of Silver for April 30, 2015 . Thanks for your support.

Technical analysis of Gold for April 30, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is retracing lower as it was discussed and expected earlier. The metal is trading around $1,202.00 at the moment and support is expected around $1,190.00. Please note that $1,190.00 is the fibonacci 0.618 support for the rally between $1,175.00 and $1,215.00. Immediate support is seen at the level of $1,200.00 followed by $1,190.00, $1,175.00, $1,162.00and and lower. Resistance is seen at $1,235.00 followed by $1,280.00/85.00 and higher respectively. Bulls should resume rally from around the level of $1,190.00 for now.

Trading recommendations:

Flat for now. Looking to buy lower

Good luck!

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of Gold for April 30, 2015 . Thanks for your support.

Daily analysis of major pairs for April 30, 2015 Market Analysis Review

EUR/USD: There is a clean Bullish Confirmation Pattern on this currency trading instrument: the EMA 11 is above the EMA 56, while the price is above them all. The Williams' % Range period 20 has constantly been in an overbought territory. In addition, some fundamental figures are expected today and they would have impact on the market.

USD/CHF: Because of the strength in the EUR/USD, the USD/CHF has been forced to go downwards, slashing the adamant resistance level at 0.9500 to the downside. Even the support level at 0.9350 was also tried – it might be tried again in the face of the continuation of the selling pressure. Based on what was said at the beginning of this week, the event on the USD/CHF is being determined by what happens on the EUR/USD.

GBP/USD: This market has continued moving upwards, shrugging off any bearish attempts along the way. Any bearish retracements in this type of market would be transitory in nature, for the trend may continue going further upwards. The distribution territory at 1.5500 may be tested and breached to the upside, unless the price eases seriously.

USD/JPY: This is still essentially a bear market. While bears may succeed in bringing the price towards the demand level at 118.50, stronger weakness in the market would be required to breach that demand level to the downside. For now, there is no significant movement here.

EUR/JPY: All eyes are on the euro as it is one of the strongest currencies among the majors now. Most Euro pairs have proved that. For example, the EUR/JPY has gone upwards by 350 pips this week, slashing through the supply zone at 132.50 before easing. The supply zone could be breached again unless there is a strong reversal in the trend.

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Technical analysis and trading recommendation for EUR/NZD for April 30, 2015 Market Analysis Review

NZD: The Reserve Bank of NZ has left the Official Cash Rate unchanged at 3.5 percent today. The New Zealand economy continues to grow at an annual rate of around 3 percent supported by low interest rates, higher net immigration, construction activity, and fall in fuel prices. House price inflation is elevated in Auckland. However, lower dairy incomes, lingering effects of drought, fiscal consolidation, and higher exchange rate are weighing on the outlook for growth. On a trade-weighted basis, the New Zealand dollar continues to be unjustifiably high and unsustainable in terms of New Zealand's long-term economic fundamentals. The timing for further adjustments in the OCR is likely to depend on the inflationary pressure in both the non-traded and traded sectors.

Technical view: Immediately after the RBNZ policy meeting, traders started selling off the kiwi against AUD, EUR, and GBP. The crosses EUR/NZD & GBP/NZD gave a bullish inverse head and shoulder break on the higher side.

EUR/NZD: The cross edged higher and made the double bottom at 1.4174, which was a low back in April 28, and changed the direction. The cross managed to close above 20&50 dsma at yesterday's session. It gained 3% closed at the highest point of the day. Today, the cross has opened on a bullish bias trading at 1.4558 compared to 1.4474. Currently, the cross is trading at a 5-week high and above the previous swing in the daily chart. In all time frames, the near and medium-term trends favor buyers. In the near term, we expect bulls to challenge 1.4685 and 1.4785 In the medium term, the levels of 1.4820, 1.4860, and 1.4930 are likely to be challenged. At the Asian session, a big spike took place. Those who wish to join this cross bull's party start buying between 1.4540 and 1.4390 use sl 1.4170.

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