Technical analysis of EUR/USD for June 01, 2015 Market Analysis Review

When the European market opens, some economic data on the Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, Spanish Manufacturing PMI, and German Prelim CPI m/m are due.The US will release data on the ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1008.

Strong Resistance:1.1002.

Original Resistance: 1.0991.

Inner Sell Area: 1.0980.

Target Inner Area: 1.0955.

Inner Buy Area: 1.0930.

Original Support: 1.0919.

Strong Support: 1.0908.

Breakout SELL Level: 1.0902.

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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Technical analysis of USD/JPY for June 01, 2015 Market Analysis Review

In Asia, Japan will release the Final Manufacturing PMI and Capital Spending q/q. The US is expected to release economic data on the ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So, there is a strong probability that USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 124.85.

Resistance. 2: 124.61.

Resistance. 1: 124.36.

Support. 1: 124.07.

Support. 2: 123.82.

Support. 3: 123.58.

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.

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 USD/JPY for June 01, 2015 . Thanks for your support.

EUR/CAD consolidating Market Analysis Review

After testing the bottom at 1.3025, EUR/CAD started to move higher. New higher highs were achieved without any signs of weakness that could attract buyers and push price even higher.

The descending channel has been broken. Fibonacci levels applied to the breakout point show that there is significant support at S2 (1.3507) that has been tested for tree times. It has been rejected continuously. The price tested R1 (1.3806) resistance level and rejected it. However, the bullish divergence on the RSI oscillator suggests that the corrective move up might be not over yet.

Consider buying EUR/CAD at the current level targeting at R2 (1.3990) as this is where the next Fib resistance (23.6%) is seen. Only a break below the Doji candle low (1.3426) could result in a further decline.

Support: 1.3658, 1.3507, 1.3323

Resistance: 1.3806, 1.3990

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Daily analysis of USDX for June 01, 2015 Market Analysis Review

The USDX is doing some pullbacks in favor of the bullish bias, as the Index is trying to break the support level of 96.97 in order to go until 95.74. For now, the bullish road is still alive, but the USDX needs to do corrective moves first to ride the bullish bias.

During the Friday session, we saw some irregular moves of the USDX, because the Index was lagging above the support zone at 96.90. The resistance level of 97.16 could be tested in the coming hours. On the H1 chart, the 200 SMA is bullish and the current structure is advising us about corrective and no trend-changing moves.

Daily chart's resistance levels: 98.08 / 98.64

Daily chart's support levels: 96.97 / 95.74

H1 chart's resistance levels: 97.16 / 97.60

H1 chart's support levels: 96.90 / 96.53

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is at 97.16, take profit is at 97.60, and stop loss is at 96.70.

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Daily analysis of GBP/USD for June 01, 2015 Market Analysis Review

At daily chart, GBP/USD is looking to find a bottom around the level of 1.5199, where it could start to form consolidation patterns in favor of the overall bearish trend. During this week, we expect to see bounces until short-term resistances, such as the level of 1.5346. The 200 SMA is still favoring downside in this time frame.

The short term-outlook is bearish and that's why we would like to enter short trades and no counter-trend trades. GBP/USD is still showing a very strong bearish structure which is pointing towards the next support around the level of 1.5158. The MACD remains in positive territory and fractals positions are still favoring the downside acceleration.

Daily chart's resistance levels: 1.5346 / 1.5543

Daily chart's support levels: 1.5199 / 1.5090

H1 chart's resistance levels: 1.5358 / 1.5443

H1 chart's support levels: 1.5259 / 1.5158

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 1.5259, take profit is at 1.5158, and stop loss is at 1.5358.

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Elliott wave analysis of EUR/NZD for June 1 - 2015 Market Analysis Review

Technical summary:

The former top at 1.5405 has been broken and after a minor correction in red wave iv more upside is expected to extend towards at least 1.5512 and possibly even higher to 1.5644 if red wave v.

In the long term, I'm looking for much more upside movement towards at least 1.6310 and more likely wave (iii) will extend as wave (ii) was an expanded flat and therefore, we should be looking for a continuation higher to 1.7154 and maybe even higher.

Trading recommendation:

We are long EUR from 1.5080 and are going to move our stop 1.5240. If you are not long EUR yet, buy near 1.5330 with the same stop at 1.5240.

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Elliott wave analysis of EUR/JPY for June 1 - 2015 Market Analysis Review

Technical summary:

The impulsive rally from a low of 133.07 continues to unfold as expected. In the short term, we are looking for a move closer to resistance at 136.57 to end blue wave iii and call for a small correction in blue wave iv towards 135.86 and maybe even 135.47 before moving higher to 137.52.

As we are in a new impulsive rally, we should be looking for a continuation higher with the next major upside target at 144.03.

Trading recommendation:

We are long EUR from 134.20 and will move our stop higher to 135.25. If you are not long EUR yet, buy in the area around 135.47 - 135.86 with the stop at 135.25.

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