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

Mounting concerns about crisis in Greece helped USD open with a gap up. The Index hit a low of 93.56 trading at 96.18. It faced the resistance at 96.40 20Wsma. The parallel resistance is seen at 96.55. We expect strong bullish momentum above 96.60 towards 96.90 initially and 97.70 later.

USD/JPY

At today's Asian session, data on the Japanese industrial and retail sales is due. Retail sales climbed to 3.0% beating expectations of 2.1%, but remains below the previous readings for 4.9%. The prelim industrial production output contracted to - 2.2% against 1.2% in the previous month.

Technical view: The pair hit a low of 122.13. The pair fell below the large ascending triangle after the opening bell, but managed to close above that in the four-hour chart. Intraday resistance is seen at 123.25, 123.45, and 123.70. The pair made a double top at 124.45. Bulls must take-off at the double top as soon as they can. In case the price closes below the ascending triangle, bears are likely to aim for 121.70 and 121.20. The 50Dsma is found at 121.80 and trend-change level remains at 120.80. Until the pair closes above 120.80, use every dip to buy. The 20Dsma is seen at 123.75. The weekly trading pattern is framed between 123.75 and 121.80. Either side close will deliver 124.45 and 125 or 121.20 and 121.00.

Intraday: Resistance is seen at 123.25, 123.55, and 123.70. Support is expected at 122.10, 122.00, and 121.80. Buying is available above 123.80 towards 124.00 and 124.40. Big moves loom at 124.50. Selling is available below 122.80 towards 122.50, 122.35, and 122.10.

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 USDX & USD/JPY for June 29, 2015 . Thanks for your support.

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

The yellow metal has been moving in a tight range for almost 4 weeks. In the previous week, the metal closed below 20Wsma. Now it is trading at a 3-week low. Investors are awaiting a clear picture of the ongoing Greek saga. The SPDR gold in trust holdings stands at 711 tonnes, an increase to 713 tonnes, posted on June 26, was the largest in four months.

The view on gold is bearish owing to technical and fundamental perspective. The Fed is likely to raise its interest rates after September. However, the recent developments in Greece raised doubts about the Fed's rate hike in 2015. Greek Prime Minister Tsipras decided the intention to hold a referendum on July 5.

Technical analysis: Today, the metal opened higher at $1,187.70 compared to previous week's closing price of $1,175.00. The 20Wsma is seen at $1,190.00. The past 2-week closing pattern indicated a double top at $1,200.00 on a closing basis. The trend-change levels remains at $1,217.00. In the weekly chart, gold has been approaching higher lows. But in the daily chart, lower highs and lower lows formation is expanding. Weekly support is found at $1,175.00 and $1,168.00. Resistance is seen at $1,190.00 and $1,200.00.

Intraday: The support is found at $1,177.00 and $1,175.00. Resistance is seen at $1,181.00, $1,185.00, and $1,187.00. We expect strong momentum above $1,190.00. Bulls are likely to open a buying position with sl $1,175.00. Buying near $1,180.00 is advised with low quantity. Target are at $1,185.00 and $1,187.00 initially, and later at $1,190.00, $1,192.00, and $1,199.00. Bears are likely to open selling position below $1,173.00 towards $1,170.00, $1,168.00, and $1,165.00. Selling accelerates below $1,165.00 initially towards $1,162.00, panic is expected below $1,162.00 towards $1,150.00 and new lows. Gold is supported by the ongoing developments in Greece.

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 Gold for June 29, 2015 . Thanks for your support.

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

The cable was rejected at the resistance zone pausing its 2-week winning streak. Today, the cable opened with a gap down hitting a low of 1.5665.

Weekly events: The week started with muted data. We have a number of high-impact data releases to look forward to, starting with the UK current account and final GDP q/q release. Data on manufacturing PMI and construction PMI is due on Thursday. Readings for the serves PMI are expected at the end of the week.

Technical analysis: The weekly supply zoneis seen around 1.5800 100Wema, 1.5870 200Wsma, and 1.5950 200Wema. The weekly support is found at 1.5650 50Wsma. In case bulls lose 1.5650, the other supports will be found at 1.5600 and 1.5530. Fundamental and technical aspects support the bullish view on the cable. The cable managed to breach the falling bearish channel in the hourly chart. Today, the cable took the support at the upper falling trendline.

Intraday: The cable formed a double bottom at 1.5665 after the opennig bell. Support is found at 1.5650. The ongoing situation favours buying with sl 1.5650. The double top was formed at 1.5770 in the H1 chart. Intraday resistance is seen at 1.5730 and 1.5780. The selling opportunity will arise below 1.5650 towards 1.5600 initially and 1.5550 later. Buying is available above 1.5780 with targets at 1.5800 and 1.5830. In case of a daily close above 1.5800, bulls will aim for 1.5870, 1.5900, and a new high of 1.5950.

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

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

Greek Prime Minister Tsipras decided the decision to hold a referendum on July 5. The Greek banks will be close until June 6. Transactions are restricted. These unexpected events dampen had a significant effect on the euro today. The euro dropped against the most majors. Greek officials said "Greek deposits are fully guaranteed and the Greek ATM will open at noon on Monday".

The euro is trading 1.8% lower at Monday's Asian session. As of now, the pair hit a low at 1.0954 temporary support is found at 1.0950. The pair opened with a 1.5% gap down. The trading weeks favours selling on rises with sl 1.1050 or 1.1085 daily closing basis. On the down side, the support is found at 1.0890 and 1.0820. In the daily chart, the higher low and higher will be erased if the pair fell below 1.0819. The pair made a double top between 1.1467 and 1.1437 with targets at 1.0800, 1.0550, and 1.0400. We forecast "In case bulls are unable to close above 1.1535, bears are likely to re-test 1.1200, 1.1100, and 1.1060 this week". The market met our expectations.

Weekly events: Today data on German prelim CPI Spanish flash CPI is due. German retail sales and unemployment change, Euro CPI y/y and unemployment rate are expected to be released on Tuesday. Wednesday is a day when Spanish, French, German and Italy manufacturing PMI is due. Draghi's speech is scheduled for Thursday and data on retail sales will close the week.

Intraday: Due to the opening gap down, traders didn't get a chance to sell. Fresh selling is advised only below 1.0950 towards 1.0920 and 1.0900. Resistance is seen at 1.1020, 1.1080, and 1.1150. The 20Wsma is seen at 1.1030. The momentum oscillators indicate that the level is oversold; a mild pullback towards the resistance zone is expected. Strong momentum will arise on the higher side in case of a breach above 1.1085.

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 29, 2015 . Thanks for your support.

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

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!

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 29, 2015 . Thanks for your support.

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.