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

General overview for 22/06/2015 6:10 CET

The golden trendline is acting as a dynamic resistance now and any breakout higher above the intraday resistance at the level of 1.2295 is the first sign of a bullish trend continuation to the upside. On the other hand, please notice that any violation of the intraday support at the level of 1.2248 might lead even to the recent local swing low test at the level of 1.2128. Nevertheless, the bias is still bullish as there is unfinished impulsive wave progression to the upside.

Support/Resistance:

1.2128 - Swing Low

1.2150 - WS1

1.2248 - Intraday Support

1.2253 - Weekly Pivot

1.2295 - Intraday Resistance

1.2382 - WR1

Trading recommendations:

Daytraders should consider opening buy orders from current price levels with SL below the level of 1.2248 and TP at the level of 1.2253 with a possible extension upwards to the level of 1.2382 later in the day.

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/CAD for June 22, 2015 . Thanks for your support.

Technical analysis of EUR/USD for June 22, 2015 Market Analysis Review

The euro closed gaining 1.3% against USD, 1.8% against NZD, 0.3% against CAD, 0.1% against AUD, and 0.2% against JPY. After the RBNZ's decision to cut its rate and the FOMC meeting, the euro edged higher. The single European currency was muted against the commodity currencies like CAD and AUD.

We expect big changes in Greece this week. As we know, Greece has not made a deal on paper yet. The emergency Eurogroup meeting takes place on Monday. Today's meeting is seen to be Greece's last chance to make a deal with its creditors. The next payment to the IMF is due on June 30.

Weekly upcoming events: The week started with major event at the European summit. Readings for European, French, and German flash manufacturing and services PMI are due. The German Ifo business climate index will be released on Wednesday. Thursday is a day when data on German consumer climate is expected to be published. Money supply data is due on Friday.

Technical view:

EUR/USD- The pair is approaching a month high of 1.1467 and 1.1535. The pair managed to close above 20Wsma for the third consecutive week. Today, the US existing home sales data is due. The negative readings may help euro bulls to reach the level of 1.1440 initially and 1.1530 later. If the European summit has a positive impact on the Greek situation, we expect the levels of 1.1600 and 1.1660 to be reached in a day or two.

Pros: In the four-hour chart, the pair managed to breach the double top formation 1.1380 hit a high of 1.1437. But bulls were unable to close above that double top. The nearest resistance is seen at 1.1440 and 1.1490. In case bulls are unable to close above 1.1535, bears will re-test 1.1200, 1.1100, and 1.1060 this week.

Intraday: Intraday buying is available above 1.1380 with targets at 1.1400, 1.1420, 1.1440, 1.1460, 1.1500, and 1.1520. Support is found at 1.1358, 1.1310, and 1.1290. Selling is available below 1.1280 with targets at 1.1240 and 1.1200. The selling pressure accelerates below 1.1190 towards 1.1150 and 1.1100. Bulls' last hope lies at 1.1060/1.1050.

To contact the author of this analysis, please email- joseph.wind@analytics.instaforex.com

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/USD for June 22, 2015 . Thanks for your support.

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

The cross has been making multiple tops on the level of 141.04 (61.8 fib level) in the weekly chart. In may be a weekly triple top. The parallel weekly resistance is seen at 141.22. Until the cross closes above 141.25, the near term is likely to be cap. In case bulls manage to take off the cap, big moves will loom above 141.25 towards 144.00 and 145.50 in the near term. On the down side, bulls are likely to find strong support at 137.50 and 137.30. At the end of this month, bulls are expected to close above 138.70. The cross gave a break by inverse head and shoulder pattern at 136.70. Until the pair closes below 141.25, bears are expected to re-test 137.70, 137.00, and 136.00.

Intraday: The support found at 139.40 and 139.20. Resistance is seen at 139.65, 140.10, and 140.65. Risky buying is available above 139.70 with targets at 140.00 and 140.50; safe buying is available above 140.00. Selling is expected below 139.20 with targets at 138.95, 138.80, and 138.50. The cross has been heading lower highs and lower low. The cross has fell below a month ascending support trendline and closed below that.

To contact the author of this analysis, please email- joseph.wind@analytics.instaforex.com

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 June 22, 2015 . Thanks for your support.

Elliott wave analysis of EUR/NZD for June 22, 2015 Market Analysis Review

Technical summary:

We are still looking for more upside pressure towards 1.6787 and expect minor resistance at 1.6513 to be broken soon for the next rally towards 1.6787. That said we are looking for even more upside pressure towards 1.7154 and the next major upside target in the longer term.

Now, support is found at 1.6374 and at 1.6313 again. The later should not be broken.

Trading recommendation:

We are long EUR from 1.5810 with stop at 161.85. Stop would be moved higher to 1.6300 once minor resistance at 1.6513 gets broken. If you are not long EUR yet, the buy EUR near 1.6425 or upon a break above 1.6513 and use the same stops.

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 Elliott wave analysis of EUR/NZD for June 22, 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for June 22, 2015 Market Analysis Review

Technical summary:

We are still looking for more upside pressure and do expect that the rally in blue wave iii will accelerate higher towards at least 145.93 and possibly even 150.87 if blue wave iii really takes off. A breakout above the minor resistance at 140.67 is likely to confirm that blue wave iii is well under way.

Support is found at 139.37 and at 138.90 again.

Trading recommendation:

We are long EUR from 138.10 with stop place at 138.75. If you are not long EUR yet, then buy near 139.37 or upon a break above 139.98 and use the same stop at 138.75.

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 Elliott wave analysis of EUR/JPY for June 22, 2015 . Thanks for your support.

Technical analysis of EUR/USD for June 22, 2015 Market Analysis Review

When the European market opens, some economic data on Consumer Confidence, Eurogroup Meetings, and Euro Summit is due. The US will release data about Existing Home Sales. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1415.

Strong Resistance:1.1408.

Original Resistance: 1.1397.

Inner Sell Area: 1.1386.

Target Inner Area: 1.1359.

Inner Buy Area: 1.1332.

Original Support: 1.1321.

Strong Support: 1.1310.

Breakout SELL Level: 1.1303.

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 EUR/USD for June 22, 2015 . Thanks for your support.

Technical analysis of USD/JPY for June 22, 2015 Market Analysis Review

In Asia, Japan will release the BOJ Monthly Report and the US is expected to publish some economic data on Existing Home Sales . So, there is a strong probability that USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 123.27.

Resistance. 2: 123.03.

Resistance. 1: 122.79.

Support. 1: 122.49.

Support. 2: 122.25.

Support. 3: 122.01.

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 22, 2015 . Thanks for your support.