Technical analysis of USD/CAD for June 30, 2015 Market Analysis Review

General overview for 30/06/2015 07:15 CET

The newest labeling had been slightly changed to incorporate the main impulsive count as s series of 1-2, (i)-(ii) wave progression and the alternative labeling of wave B blue: a double zig-zag pattern labeled as WXY brown. The current range is labeled as a part of a corrective cycle in wave ii blue or a part of wave XX. That would mean there is still a possibility for a double zig-zag to evolve into a triple zig-zag pattern as long as the level of 1.2215 is not violated. Please notice the near-term and longer-term outlook is still bullish.

Support/Resistance:

1.2128 - WS2

1.2245 - WS1

1.2275 - Intraday Support

1.2332 - Weekly Pivot

1.2420 - Intraday Resistance

1.2447 - WR1

1.2537 - WR2

Trading recommendations:

Daytraders should still refrain from trading and wait for the important levels to be tested first: the intraday resistance is seen at the level of 1.2420 and intraday support is expected at the level of 1.2275.

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Technical analysis of GBP/CHF for June 30, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is trading lower around the level of 1.4630 at the moment after having formed an intermediary top near 1.4800. Please note that the pair might be preparing for a deeper correction into 1.4400 as depicted here, before resuming its rally. It is hence recommended to remain short with risk above the level of 1.4800 now. Immediate support is seen at 1.4500 followed by 1.4400, 1.4250, and lower. Resistance is seen at 1.4800 levels (interim) and higher respectively.

Trading recommendations:

Remain short for now, stop is at 1.4830, a target is 1.4400.

Good luck!

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Daily analysis of major pairs for June 30, 2015 Market Analysis Review

EUR/USD: The EUR/USD pair opened with a large gap this week as did other EUR pairs. These gaps signify a high volatility this week, which has already started. The gaps have been filled. This means that most EUR pairs would go upwards this week. The EUR/USD went upwards on Monday.

USD/CHF: This pair had opened with a small gap and went downwards later on Monday. The pair went downwards by over 120 pips. This could cause a threat to the recent bullish outlook. A movement below the support level of 0.9200 could result in a bearish bias.

GBP/USD: The outlook for this pair is bullish as it was not affected by the gaps occurred at the beginning of the week. The bullish outlook would be valid as long as the accumulation territory around 1.5650 is not broken to the downside. Once the accumulation territory is breached to the downside, the outlook would become bearish. This scenario is more likely this week. This would also affect other GBP pairs.

USD/JPY: This currency trading instrument gapped down after the openning bell and the price trended downwards. Amid bearish expectation for this month, the price is likely to continue trending further downwards.

EUR/JPY: Just like the EUR/USD pair, EUR/JPY gapped down when the market opened. The price dropped by 400 pips testing the demand zone at 134.00 and bounced upwards by over 350 pips later. Further upward movements could result in a Bullish Confirmation Pattern.

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Daily analysis of USDX for June 30, 2015 Market Analysis Review

On the daily chart, the USDX has pulled back from its highs after a bullish gap, which was formed on the back of developments in Greece. The support zone around 94.66 is still the closest one on the downside, but the USDX could start trading higher if it does a rebound at that support. In case of success, it will test the next resistance at the level of 95.74.

Index closed the bullish gap falling below the 200 SMA on the H1 chart. Now, the USDX is forming a lower low pattern and looking for an opportunity to break the support level of 94.77. Anyway, a rebound at the current levels will help the USDX consolidate again above the moving average mentioned before. The MACD indicator is reaching the oversold territory.

Daily chart's resistance levels: 95.74 / 96.57

Daily chart's support levels: 94.66 / 93.63

H1 chart's resistance levels: 95.09 / 95.48

H1 chart's support levels: 94.77 / 94.40

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is at 95.09, take profit is at 95.48, and stop loss is at 94.71.

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Daily analysis of GBP/USD for June 30, 2015 Market Analysis Review

GBP/USD closed the bearish gap. On the daily chart, we still can observe a test at the resistance level of 1.5755 and if the pair does a breakout over there, it would be expected to test the next key high around the level of 1.5898. Also, bulls are getting stronger, but bear in mind the current situation in Greece.

At the H1 chart, GBP/USD has been trading sideways, but remains above the 200 SMA. The current situation in Greece makes us think about the possibility to take long positions at this stage. GBP/USD is expected to rally towards new highs, as 200 SMA provides dynamic support, but be cautious anyway.

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 30, 2015 Market Analysis Review

When the European market opens, economic data on Eurogroup Meetings, Italian 10-y Bond Auction, Italian Prelim CPI m/m, Unemployment Rate, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, German Unemployment Change, French Consumer Spending m/m, and German Retail Sales m/m is due. The US will release data on CB Consumer Confidence, Chicago PMI, and S&P/CS Composite-20 HPI y/y. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1270.

Strong Resistance:1.1264.

Original Resistance: 1.1253.

Inner Sell Area: 1.1242.

Target Inner Area: 1.1216.

Inner Buy Area: 1.1190.

Original Support: 1.1179.

Strong Support: 1.1168.

Breakout SELL Level: 1.1162.

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 30, 2015 . Thanks for your support.

Technical analysis of USD/JPY for June 30, 2015 Market Analysis Review

In Asia, Japan will release data on Housing Starts y/y and Average Cash Earnings y/y. The US will unveil data about CB Consumer Confidence, Chicago PMI, and S&P/CS Composite-20 HPI y/y. So, there is a strong probability that USD/JPY will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 123.12.

Resistance. 2: 122.88.

Resistance. 1: 122.64.

Support. 1: 122.35.

Support. 2: 122.11.

Support. 3: 121.87.

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 30, 2015 . Thanks for your support.