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Thursday, 30 July 2015

Technical analysis of Gold for July 30, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is virtually unchanged for last 2 trading sessions, trading at $1,093.00. The yellow metal might be preparing for a relief rally towards the level of $1,130.00, which is also the confluence of resistance trendline and fibonacci level of 0.618 of the drop from $1,167.00 to $1,075.00. It is recommended to initiate 50% long positions (aggressive trade setups) with risk at $1,070.00 now. Immediate support is seen at the level of $1,075.00 followed by $1,052.00, $1,030.00, and lower while resistance is seen at $1,130.00/32.00 followed by $1,176.00 and higher.

Trading recommendations:

Initiate 50% long positions, stop is at $1,070.00, a target is at $1,130.00.

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 July 30, 2015 . Thanks for your support.

Technical analysis of Silver for July 30, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver is seen to be trading around the levels of $14.75/77 at the moment, after having touched $14.90 yesterday. The metal is still expected to push higher through the levels of $15.00 and $15.30 respectively. Please note that the metal has pushed through the trend-line resistance (interim), and its 50-day moving average for now. It is recommended to hold long positions with risk at the level of $14.25 . Immediate support is seen at $14.40/50 followed by $14.00, $13.00, and lower while resistance is seen at $15.00 followed by $15.30 (fibonacci), $15.90/$16.00, and higher.

Trading recommendations:

Remain long for now, stop is at $14.25, a target $15.30

Good luck!

Technical analysis of EUR/JPY for July 30, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair dropped lower to the level of 136.00 yesterday before pulling back higher. Please note that the pair has broken its interim support trendline, but is testing a 50-day moving average, leaving enough room for a rally from current levels. It is recommended to initiate 50% long positions with risk at the level of 135.00. Immediate support is seen at 135.50 followed by 134.80, 134.00, and lower while resistance is seen at 138.00 followed by 139.00, 140.00, and higher. The pair should remain in control of bulls until prices stay above 135.00 and 134.00.

Trading recommendations:

Initiate 50% long positions, stop is at 135.00, a target is open.

Good luck!

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

Technical outlook and chart setups:

The GBP/CHF pair has been pushed above th elevel of 1.5100 as expected, preparing to clear fibonacci extension at 1.5200 before producing a meaningful retracement. The pair had tested the support of 1.4950 yesterday before rallying higher again. It is recommended to book some profits and move risk towards 1.4950 for now. Immediate support is seen at 1.4950 on the H4 chart, followed by 1.4775, 1.4575, 1.4450/75, and lower. Resistance is seen at 1.5200 (interim), followed by 1.5400 and higher respectively.

Trading recommendations:

Book some profits on long positions and exit all at 1.5200, move stop at 1.4950.

Good luck!

Elliott wave analysis of EUR/NZD for July 30, 2015 Market Analysis Review

Technical summary:

The flat correction in wave 2 is still unfolding and we could finally see a new low just below 1.6325 before this correction is over. A new rally towards 1.7277 is expected. In the short term, the final push lower can be seen as long as resistance at 1.6602 is able to protect the upside. Any break above resistance at 1.6602 will indicate that wave 2 is over and wave 3 is headed higher towards the first target at 1.7277 is developing.

Trading recommendation:

We are looking for an opportunity to buy near 1.6335 or upon a break above 1.6602.

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 July 30, 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for July 30, 2015 Market Analysis Review

Technical summary:

Strong resistance at 137.80 needs to be broken to clear the way for a rally higher to 141.06 and 144.03. As long as resistance at 137.80 holds firm, we will remain in a dead-lock situation between bulls and bears.

Support is found at 135.49, which will ideally protect the downside for the break above resistance at 137.80. However, if support at 135.49 gets broken, it will tip slightly in favor of bulls, but only a break below support at 134.28 and even more important at 133.27 will call for a new decline to 126.05 and below.

Trading recommendation:

We are long EUR from 134.07 with stop placed at 135.40. If you are not long EUR yet, buy on a break above resistance at 137.80 and use the same stop at 135.40.

Technical analysis of EUR/USD for July 30, 2015 Market Analysis Review

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When the European market opens, economic data on the Italian 10-y Bond Auction, ECB Economic Bulletin, German Unemployment Change, Spanish Flash GDP q/q, Spanish Flash CPI y/y, and German Prelim CPI m/m is due. The US will publish data on Natural Gas Storage, Advance GDP Price Index q/q, Unemployment Claims, and Advance GDP q/q. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1034.

Strong Resistance:1.1028.

Original Resistance: 1.1017.

Inner Sell Area: 1.1006.

Target Inner Area: 1.0981.

Inner Buy Area: 1.0966.

Original Support: 1.0945.

Strong Support: 1.0936.

Breakout SELL Level: 1.0929.

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.