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Monday, 29 June 2015

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

GBP/USD has been steadily rising since June 05 up to june 18 when it tested a high of 1.5929. Currently, GBP/USD is in a correctional phase and could hit new lower lows.

The uptrend trendline is broken, the 200 moving average is broken, the downtrend trendline is rejected. And finally, 38.2% level, (taken from the Fibonaccy applied to the uptrend trendline breakout point) was rejected few times.

Overall, the short-term trend is downword, resistance was rejected. Support was not tested. Consider selling GBP/USD between R1 (1.5752) and R2 (1.5785) targeting S2 (1.5642) which is 0% Fibs level. Onlya break above R3 could result in a movement higher to form a double top near 1.5930.

Support: 1.5709, 1.5642

Resistance: 1.5752, 1.5785, 1.5819

gbpusd-h1-instaforex-group_(1).png

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 GBP/USD for June 29, 2015 . Thanks for your support.

Technical analysis of Gold for June 29, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is trading around $1,184.00 now after bouncing off from the level of $1,168.00. The metal should be poised to rally further higher towards $1,225.00 levels at least in the sessions to come. As depicted here, the metal has bounced off fibonacci 0.786 support and is expected to rally towards fresh swing highs. It is hence recommended to remain long for now with risk at $1,150.00. Immediate support is seen at $1,160.00 followed by $1,143.0 and lower. Resistance is seen at $1,205.00 followed by $1,215.00, $1,225.00/30.00, and higher respectively.

Trading recommendations:

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

Good luck!

Technical analysis of Silver for June 29, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver rallied through $16.00/05 after testing lows of $15.50 on the back of the Greek crisis. The metal is expected to fall back to the levet $15.80 from here before rallying further up. Also, the metal has hit the support line turned resistance as depicted on the chart view. It is recommended to remain long and look for an opportunity to initiate further positions around $15.80 with risk at $15.30. Immediate support is seen at $15.50 followed by $15.30 and lower. Resistance is seen at $16.30/40 followed by $17.20/30 and higher respectively.

Trading recommendations:

Remain long for now, stop is at $15.30, 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 Silver for June 29, 2015 . Thanks for your support.

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

Technical outlook and chart setups:

The EUR/JPY pair is trading around 135.30 at the moment after pulling back higher from 134.00 earlier. As we can observe, the pair is seen to be bounced off from fibonacci 0.786 support and a new high is still lkely to be hit in coming weeks. It is hence recommended to initiate at least 50% long positions now with risk around 133.00. Immediate support is seen at 133.00 followed by 131.00, 129.00, and lower while resistance is seen at 138.00/139.00 levels followed by 140.00, 141.00, and higher respectively.

Trading recommendations:

Initiate at least 50% long positions, stop is at 133.00, 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 EUR/JPY for June 29, 2015 . Thanks for your support.

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

Technical outlook and chart setups:

The GBP/CHF pair is trading around 1.4750 at the moment looking for an opportunity to produce a meaningful retracement lower. Minimum downside expectation is limited with the level of 1.4550, while there is still the potential for a drop to the level of 1.4400 before the pair could resume its rally. It is therefore recommended to remain flat and look to initiate long positions at lower levels. Immediate support is seen at 1.4650 followed by 1.4500, 1.4400, and lower. Resistance is seen at 1.4750 followed by 1.4800 and higher respectively.

Trading recommendations:

Remain flat for now, look to buy lower.

Good luck!

Elliott wave analysis of EUR/NZD for June 29 - 2015 Market Analysis Review

Technical summary:

The EUR hit major highs after Monday's opening bell, as the Greek Prime Minister called a referendum on whether to accept the latest terms set by creditors. The important short-term support at 1.5792 is still intact, so we will stay cautiously bullish for now.

To confirm the bullish outlook, a breakout back above resistance at 1.6370 is needed. It will call for more upside towards 1.7154. However, a breakout below support at 1.5792 will delay an expected rally and will force a review of the entire rally from a low of 1.3880.

Trading recommendation:

Our stop at 1.6140 was taken out immediately as we opened at 1.6136. We will sideline until the volatility becomes normal again.

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 29 - 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for June 29 - 2015 Market Analysis Review

Technical summary:

On Saturday, Greece had called a referendum on whether to accept the latest terms from creditors, which caused a huge volatility in early trade on Monday. A break below important support at 133.07 will be bearish for EUR/JPY. It will indicate that a rally from a low of 126.05 has been only in three waves and thereby is a corrective one. If a breakout below 133.07 takes place, a new decline to 126.05 and lower is expected.

Amid that, stay cautiously bullish as long as important support at 133.07 protects the downside, but a breakout back above 139.17 will be needed to confirm the bullish outlook.

Trading recommendation:

With an extreme volatility seen here, the best is to stay neutral and let things come down before entering a new position. So, we will stay neutral for now.