Best and Easy Analyst News

Monday, 22 June 2015

Gold technical analysis for June 22, 2015 Market Analysis Review

Gold price has reached the 61.8% Fibonnaci retracement as expected and paused its developement. This level is an important resistance level and it is very probable to see trend reversal to the downside from this level.

Blue line - trend line support

Gold price is trading above the Ichimoku cloud in the 4-hour chart and above the blue trend-line support. Short-term support is found at $1,180 while short-term resistance is at $1,206 where the 61.8% Fibonacci retracement is found. I believe it is more probable to see trend reversal to the downside than a continuation of this uptrend.

Blue line - trend line support

The weekly chart remains bearish even if the price managed to close above the tenkan-sen last week. The trend remains bearish as the price is trading below the Ichimoku cloud and below the kijun-sen. Critical support for bulls is at the level of $1,130. I remain bearish expecting a breakout below $1,130 and a push towards $1,000.

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 Gold technical analysis for June 22, 2015 . Thanks for your support.

USDX technical analysis for June 22, 2015 Market Analysis Review

The US Dollar Index remains below the resistance trendline and the Ichimoku cloud confirming that at least the short-term trend remains bearish. The price got rejected at the trend-line resistance. Now it is testing important lows of the previous week again.

Green line - trend line resistance

Red line - previous support now resistance

The US Dollar Index is below the Ichimoku cloud and below two resistance trendlines. Last Friday, we saw a bounce towards the resistance line at 94.50 by the kijun-sen. As long as the price is below the green trendline, the short-term trend will remain bearish. Support is found at 93.50. If it gets broken, I would expect acceleration downwards 92.50.

The weekly chart remains bearish as last week's candle closed below the kijun-sen (yellow line) indicator. Next important support is seen at 93.10. Breaking below that level will push the Index towards 92.75-92.50 at least with most probable target around 90 where the 50% retracement and the cloud support is found.

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 USDX technical analysis for June 22, 2015 . Thanks for your support.

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

Technical outlook and chart setups:

Gold is trading around $1,197.00/98.00 now after having pulled back from $1,205.00. The metal is expected to rally up to at least $1,211.00/15.00 from here and head towards $1,225.00 subsequently. Bulls are poised to remain in control until prices stay above $1,171.00. It is hence recommended to remain long for now with risk at the level of $1,150.00. Immediate support is seen at $1,171.00 followed by $1,162.00, $1,143.00, and lower. Resistance is seen at the level of $1,215.00 followed by $1,225.00 and higher respectively.

Trading recommendations:

Remain long for now, stop is at $1,150.00 levels, a target is open.

Good luck!

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 Gold for June 22, 2015 . Thanks for your support.

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

Technical outlook and chart setups:

Silver is holding above $16.00 now. The metal tested recent lows at $15.90 last week before pulling back higher again. Please also note that the metal remains in the buy zone of its support trendline and holds the fibonacci 0.786 support around the level of $16.00. It is hence recommended to remain long with risk at $15.30 and to add on intraday dips as well. Immediate support is seen at the level of $15.90 followed by $15.60, $15.30, and lower. Resistance is seen at $17.20/30 and higher respectively.

Trading recommendations:

Remain long for now, stop is at $15.30, a target is open.

Good luck!

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

Technical outlook and chart setups:

The EUR/JPY pair is trading at 139.80 now after having hit a higher low at 139.00 last week. The pair could call for a push above 141.00 and bulls should remain in control until prices stay above 138.00. Please note that 138.00 is also the fibonacci 0.382 support of the rally between 133.00 and 141.00. It is therefore recommended to remain long for now, with risk below 138.00. Immediate support is seen at the level of 139.00 (interim) followed by 138.00, 135.00, and lower while resistance is seen at the level of 141.00 followed by 142.00 and higher respectively.

Trading recommendations:

Remain long for now, stop is at 137.80, a target is open.

Good luck!

Technical analysis of GBP/CHF for June 22, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair dropped to 1.4500 as seen here, before puling back higher again. Please note that the pair has formed a morning star candlestick pattern indicating a potential reversal on the higher side. Also, bulls are expected to remain in control until prices stay above 1.4150. It is hence recommended to remain long for now and add further on dips as well. The pair should be able to push through the level of 1.4700 in coming sessions. Immediate support is seen at 1.4500 (interim) followed by 1.4400, 1.4150, and lower. Resistance is seen at the level of 1.4700 respectively.

Trading recommendations:

Remain long for now, stop is at 1.4400, a target is open.

Good luck!

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

General overview for 22/06/2015 6:30 CET

The price is still trading inside of the neutral zone between the levels of 137.99 and 140.65 as the complex corrective cycle is unfolding. Any breakout above the intraday resistance at the level of 140.65 will be considered bullish and the main count will be invalidated. On the other hand, to continue with the current main count, the market must break below the intraday support at the level of 138.93 and head into the supply breakthrough zone agaim.

Support/Resistance:

141.05 - Swing High

140.00 - WR1

140.65 - Intraday Resistance

139.57 - Weekly Pivot

138.93 - Intraday Support

138.50 - WS1

137.98 - 138.28 - Supply Breakthrough Zone

Trading recommendations:

Daytraders should consider opening sell orders from current levels with SL above the level of 140.66 and TP at the level of 138.93 with a possible extension upwards to the level of 138.00 later in the day.