Daily analysis of USDX for June 29, 2015 Market Analysis Review

A bullish gap is taking advantage of the USDX current trend on the daily chart, because the Index responded Greek news released at the weekend. Currently, we could expect a huge fall to the support level of 95.74 where it is currently making a strong bottom. That move is needed because of the gap.

The H1 chart is advising us to wait for a gap which is expacted to take place in coming hours, because the USDX is trying the resistance level of 96.25. However, this pullback could be extended below the support level of 95.80, but our overall forecast for this Index is still bullish, at least in the short and mid term. The MACD indicator is overbought.

Daily chart's resistance levels: 96.57 / 97.49

Daily chart's support levels: 95.74 / 94.66

H1 chart's resistance levels: 96.25 / 96.57

H1 chart's support levels: 95.80 / 95.48

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index gets broken with a bullish candlestick; the resistance level is at 96.25, take profit is at 96.57, and stop loss is at 95.93.

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Daily analysis of GBP/USD for June 29, 2015 Market Analysis Review

In the daily chart, GBP/USD is currently trading with a bearish gap, after a massive buying of the US dollar because of economic problems in Greece. By the way, the support level of 1.5543 is still the closest one in this time frame because it is currently located at the 200 SMA. GBP/USD could start going upwards after the corrective move.

Currently, GBP/USD is approaching strong support around the level of 1.5687 and, as we can see on the H1 chart, the pair could move to the upside and find resistance at 1.5740 in coming hours. However, a breakout in the support zone of 1.5687 will enable bears to test the level of 1.5650. The MACD indicator is in negative territory.

Daily chart's resistance levels: 1.5755 / 1.5898

Daily chart's support levels: 1.5543 / 1.5450

H1 chart's resistance levels: 1.5740 / 1.5789

H1 chart's support levels: 1.5687 / 1.5650

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5740, take profit is at 1.5789, and stop loss is at 1.5693.

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Technical analysis of EUR/USD for June 29, 2015 Market Analysis Review

Overview:

• The price of the EUR/USD pair is going to turn bearish from the level of 1.1162 because the resistance has already set at the level of 1.1162 and the double top is seen near the resistance at 1.1195. It is a good sign to sell in this area (formed a big gab) with the first target at 1.0955 to test minor support at this level, which represents a new double bottom in the H1 chart. If the trend is able to break 1.0955, it will call for a downtrend in order to continue its bearish movement towards 1.0780 with a view to the weekly support 3. The weekly support 3 is found at 1.0780 this week. On the other hand, the stop loss should be placed at the level of 1.1200. It should also be noted that the support is expected at 1.0954 today.

The weekly technical analysis of EUR/USD pair:

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Technical analysis of GBP/USD for June 29, 2015 Market Analysis Review

The weekly technical analysis of GBP/USD pair:

Overview:

• According to the previous events, the GBP/USD pair has been trapping between 1.5774 and 1.5639. The level of 1.5774 (the weekly pivot point) represents strong resistance. Also, it should be noted that the price of 1.5787 is coinciding with a ratio of 50% Fibonacci retracement levels. The minor support set at the level of 1.5666 (the double bottom in the H1 chart). Hence, we expect a range about 135 pips in coming hours. Therefore, the market is going to call for an uptrend from the level of 1.5666. Thus, buy above the level of 1.5666 in the short term with the first target at 1.5774. If the trend is able to break the weekly pivot point, it might resume to 1.5816 in order to test the golden ratio in the same time frame.

Notes:

• Major support sets at 1.5639 and the double bottom sets at 1.5666.
• The level of 1.5774 represents the weekly pivot point.
• Major resistance has already set at 1.5816.
• It should be noted that the weekly range was not very large for the last four weeks (around 234 pips).

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Daily analysis of major pairs for June 29, 2015 Market Analysis Review

EUR/USD: There is already a bearish signal on this pair, though there is a formidable barrier to the bears' interest at the support of 1.1150. A breakout of that support line would enable the price to go further southwards more smoothly.

USD/CHF: This market has the propensity to go upwards, which would become possible in case EUR/USD goes further downwards. There is a stubborn resistance level at 0.9400, which bulls need to breach in order to maintain the existing dominance.

GBP/USD: The GBP/USD pair fell by 200 pips last week, threatening the recent bullish outlook on the market. The bullish outlook would be valid as long as the accumulation territory at 1.5650 is not broken to the downside. Once the accumulation territory is breached to the downside, the outlook would become bearish. This would also affect other GBP pairs.

USD/JPY: The pair is moving sideways. That is likely to go on for a few weeks. There is a bound to make a break above the supply level at 124.50 or below the demand level at 122.50. On the USD/JPY pair, there would be a great directional movement in July 2015 (and most probable in direction of bears).

EUR/JPY: The EUR/JPY pair is moving in a bearish trend. Since the bearish signal has been formed, the market is moving sideways. However, there could be a significant movement today or next week. The fundamental events in the Eurozone could have a serious impact on the market; plus the situation around the euro would determin further derection on this cross.

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Technical analysis of USD/JPY for June 29, 2015 Market Analysis Review

In Asia, Japan will release Prelim Industrial Production m/m and Retail Sales y/y. The US will rpublish data on Pending Home Sales 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: 123.41.

Resistance. 2: 123.17.

Resistance. 1: 122.93.

Support. 1: 122.64.

Support. 2: 122.40.

Support. 3: 122.16.

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 EUR/USD for June 29, 2015 Market Analysis Review

When the European market opens, economic data on the Spanish Flash CPI y/y and German Prelim CPI m/m is due. The US will release economic data on the Pending Home Sales m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1028.

Strong Resistance:1.1022.

Original Resistance: 1.1011.

Inner Sell Area: 1.1000.

Target Inner Area: 1.0975.

Inner Buy Area: 1.0950.

Original Support: 1.0939.

Strong Support: 1.0928.

Breakout SELL Level: 1.0922.

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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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for June 29, 2015 . Thanks for your support.