Technical analysis of EUR/JPY for May 31, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair is trading at the level of 134.72 now. But it still needs to clear the level of 135.35 for further development towards higher levels. The pair is expected to face resistance at 136.00/50 and bears are expected to remain under control until prices remain below the level of 137.00 broadly. It is hence recommended to remain short for now and to sell on intraday rallies. Immediate support is seen at 133.00 followed by 131.50, 129.00, 128.00, and lower. Resistance is seen at 136.00/50 followed by 137.00 and higher respectively.

Trading recommendations:

Remain short for now, stop at 137.00, a target is open.

Good luck!

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Technical analysis of Silver for May 22, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver has bounced off the fibonacci 0.382 support around $16.90 earlier and is seen to be trading at $17.20 at the moment. The metal is poised to stage a rally through at least $17.50/60 before reversing lower. It could complete at the level $16.40/50 before resuming its rally. It is recommended to remain long for now with risk at $16.80. Immediate support is seen at $16.90 (interim) followed by $ 16.20, $15.80, and lower. Resistance is seen at $17.70 followed by $18.40/50 and higher respectively.

Trading recommendations:

Remain long for now, stop at $16.80, a target $17.50/60.

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 May 22, 2015 . Thanks for your support.

Technical analysis of Gold for May 22, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is seen to be trading at $1,208.00 at the moment after pulling back from $1,202.00 earlier. The metal has tested lows twice, and it is expected to rally at least through $1,221.00. Immediate short-term target is seen at $1,213.00. It is hence recommended to hold long positions with risk around $1,200.00. Immediate support is seen at $1,200.00 (interim) followed by $1,180.00, $1,162.00, and lower. Resistance is seen at $1,230.00 followed by $1,235.00/40.00 and higher respectively.

Trading recommendations:

Remain long for now, stop at $1,200.00, a target at $1,221.00.

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 May 22, 2015 . Thanks for your support.

Technical analysis of EUR/JPY for May 22, 2015 Market Analysis Review

General overview for 22/05/2015 07:30 CET

The count had been slightly changed to incorporate a sooner-than-expected wave (i) green termination and to label the latest upward rally as a three wave corrective structure. Please notice that as long as the red line at the level of 133.09 is not clearly violated, there is still a possibility that the last wave up is only a part of a larger corrective structure. This would mean, the dynamic support provided by the golden trendline might be violated to make wave b green. However, the market can go up again to complete the wave c of the overall larger corrective structure. As long as no new swing high is made above the level of 136.95, the bias is bearish and new lows are expected on this market.

Support/Resistance:

133.09 - Key Level

133.45 - Technical Support

133.90 - Intraday Support

134.40 - Golden Trend Line Dynamic Support

134.87 - WS1

135.29 - Intraday Resistance

135.85 - Weekly Pivot

Trading recommendations:

As long as the level of 135.29 is providing resistance, daytraders should consider opening sell orders from the current levels with SL just above the level of 135.31 and TP at the level of 133.90, with a possible extension lower down to the level of 133.45 and beyond.

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for May 22, 2015 . Thanks for your support.

Technical analysis of USD/CAD for May 22, 2015 Market Analysis Review

General overview for 22/05/2015 07:10 CET

The corrective cycle is developing as anticipated at the beginning of the week, but the overall bias is still bullish as there are unfinished impulsive waves to the upside. Please notice that the main count indicates a possible triangle pattern in wave 4 blue that looks completed. That would mean any breakout higher above the green trendline will be considered as a bullish impulsive continuation to the upside with new highs in view. On the other hand, any breakout below the intraday support at the level of 1.2167 will favor alternate count that is now a part of uncompleted irregular flat corrective cycle. The target for that corrective pattern lies at the level of 1.2127.

Support/Resistance:

1.2066 - Invalidation Level

1.2127 - WR1

1.2167 - Intraday Support

1.2256 - Intraday Resistance

Trading recommendations:

As long as the level of 1.2167 is providing the support, daytraders should, consider opening buy orders from the current levels with SL just below the level of 1.2166 and TP at the level of 1.2235, with a possible extension higher up to the level of 1.2256 and beyond.

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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 May 22, 2015 . Thanks for your support.

Daily analysis of major pairs for May 22, 2015 Market Analysis Review

EUR/USD: Since the bias on this pair has turned bearish, the price has been caught in an equilibrium phase. It would be assumed that a break below the support line at 1.1000 would further strengthen the existing bearish bias; whereas a break above the resistance line at 1.1250 would put bulls in a defensive position.

USD/CHF: Since a sell signal was formed on this currency trading instrument, the price has been moving sideways. There could be a significant breakout either to the upside or to the downside soon. A breakout to the upside is more likely.

GBP/USD: The сable has shot skywards again, settling just above the accumulation territory at 1.5650. This bullish price action has saved the recent bullish bias from being rendered invalid by bears. A movement above the distribution territory at 1.5750 would really emphasize the strength of bulls.

USD/JPY: There is still a valid Bullish Confirmation Pattern seen on the USD/JPY chart. The price is above the EMA 56 and the RSI period 14 is above the level of 50. The next target for bulls is located at the supply level of 121.50, and along the way, bearish corrections would be shallow and transient.

EUR/JPY: This cross is also caught in an equilibrium phase, which would inevitable be followed by a breakout. Again, the fate of the euro would determine whether the expected breakout would be to the upside or to the downside. The current bias is bearish.

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Technical analysis of USD/CAD for May 22, 2015 Market Analysis Review

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS: In the week ended on May 16, the advance figure for seasonally adjusted initial claims was 274,000, 10,000 up from the previous week's unrevised level of 264,000.

US Manufacturing PMI eases to a 16-month low in May. US manufacturing output growth weakened for the second month in May. It was the slowest since January 2014. The seasonally adjusted Markit Flash US Manufacturing Purchasing Managers' Index fell from 54.1 in April reflecting the weakest improvement in overall business conditions since the start of 2014.

USD/CAD

The pair probably made a double top at 1.2256 and changed the direction. The pair has been consolidating at 100Dema for 2 days. The parallel support is found at 1.2169. The selling will emerge below 1.2169 towards 1.2130 and 1.2090. Bulls' real problem is likely to ignite below 1.2080 towards the previous low. Today, we expect 1.2130 and 1.2100. CAD is trading higher against USD ahead of Canada Core CPI m/m, CPI, and Core retail sales m/m. We expect the Canadian economy to continue following the positive trend. Strong resistance zone is seen at 1.2350. A daily close above 1.2350 leads to a fresh new high. On the downside, the pair formed a minor base between 1.1940 and 1.1900 and strong support is found at 1.1885 and 1.1795. On a weekly basis, the pair managed to gain 200 pips. After 5 consecutive weeks of losses, bulls managed to cover some loses this week. Our buy-on-dip bullish view is likely to remain in play with sl 1.2090. For today's trade, bears should sell below 1.2160 with targets at 1.2130 and 1.2100 following the trend. On the higher side, we recommend buying above 1.2200 with targets at 1.2240/50 initially, and 1.2300 and 1.2325 later. The pair gave an upside break from the month old descending trendline. The real strength for bulls is seen above 1.2310, trend-changing level is at 1.2350.

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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 May 22, 2015 . Thanks for your support.