Elliott wave analysis of EUR/NZD for October 28, 2015 Market Analysis Review

Wave summary:

With a breakout above 1.6390 we can see the first indication that a bottom was found at 1.6124 and a new impulsive rally is about to develop. The next resistance to look for is found at 1.6546 and a breakout above here will be a strong indication of a bottom being in place and for a continuation higher to 1.6950 or just above this resistance. To mark the top of wave i.

Trading recommendation:

We bought EUR at 1.6390 and have placed our stop at 1.6180. If you are not long EUR yet, buy EUR near 1.6390 and use the same stop at 1.6180.

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Elliott wave analysis of EUR/JPY for October 28, 2015 Market Analysis Review

Wave summary:

We have seen an expected breakout below support at 132.98 for a continuation lower towards strong support near 132.17. We will ideally find the bottom of wave (iii) at 132.17 and set the stage for a correction in wave (iv) back to 133.92 before lower in wave (v).

Short-term resistance is seen at 133.23 and again at 133.51. The later should ideally protect the upside for a continuation lower to 132.17.

Trading recommendation:

We are short EUR from 135.95 and will move our stop lower to 133.55 and keep our take profit at 132.25.

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Technical analysis of EUR/USD for October 28, 2015 Market Analysis Review

When the European market opens, some economic news on the German 10-y Bond Auction, GfK German Consumer Climate, and German Import Prices m/m is due to be released.The US will unveil economic data on the Federal Funds Rate, FOMC Statement, Crude Oil Inventories, and Goods Trade Balance. So amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout buy Level: 1.1087.

Strong Resistance:1.1081.

Original Resistance: 1.1070.

Inner Sell Area: 1.1059.

Target Inner Area: 1.1033.

Inner Buy Area: 1.1007.

Original Support: 1.0996.

Strong Support: 1.0985.

Breakout sell Level: 1.0979.

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 October 28, 2015 . Thanks for your support.

Technical analysis of USD/JPY for October 28, 2015 Market Analysis Review

In Asia, Japan will release data on the Retail Sales y/y today. The US will post economic news about the Federal Funds Rate, FOMC Statement, Crude Oil Inventories, and Goods Trade Balance. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during the Asian session, but with medium to high volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.98.

Resistance. 2: 120.74.

Resistance. 1: 120.51.

Support. 1: 120.21.

Support. 2: 119.98.

Support. 3: 119.74.

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 October 28, 2015 . Thanks for your support.

Daily analysis of Silver for October 28, 2015 Market Analysis Review

Overview

Silver price continues to fluctuate near 15.85. The price confines within a symmetrical triangle pattern that appears in the chart therefore breaching the resistance level of this pattern at 16.05 will provide a continuation of a bullish trend on a short-term basis. Its next targets is seen at 16.85. We observe an attempt to approach the mentioned resistance level at 16.05, supported by the positive signal that came from stochastic, keeping positive expectations valid for today. It reminds you that breaching the mentioned level will support the expectations of rising towards 16.85. Therefore, we keep preferring the bullish trend in upcoming sessions conditioned by holding above the level of 15.40.

Expected trading range for today is seen between support at 15.40 and resistance at 16.30.

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Daily analysis of GBP/JPY for October 28, 2015 Market Analysis Review

Overview

As noted before, price actions from 180.36 are viewed as a consolidation pattern. Choppy recovery from 180.64 is viewed as the third leg. While further rise might be seen, strong resistance at 188.28 is expected to limit a movement upside to finish the consolidation. A breakout at 180.36 will extend a fall from 195.86 and should then target a test at the key support level of 174.86. GBP/JPY was close to key cluster resistance of 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to the psychological level of 200. A break at 174.86 will confirm trend reversal and bring deeper fall to 38.2% retracement of 116.83 to 195.86 at 165.67. In case of another rise, we should be cautious as strong resistance at 199.80/200.00 is expected to bring reversal.

Daily Pivots: (S1) 185.30; (P) 185.68; (R1) 186.22;

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Daily analysis of USDX for October 28, 2015 Market Analysis Review

There is a sideways consolidation above the support level of 96.85 in the H1 chart. Ahead of the FONC meeting, we could expect some volatile moves in favor of the dominant bias, which is bullish. However, if the bearish scenario takes place after the meeting, we can expect a test at the 200 SMA zone in this time frame. The MACD indicator remains at the positive territory.

H1 chart's resistance levels: 97.16 / 97.51

H1 chart's support levels: 96.85 / 96.56

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 seen at 97.16, take profit is at 97.51, and stop loss is at 96.81.

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