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

Technical outlook and chart setups:

Silver moved through $16.30/40 yesterday before pulling back lower again. The metal trades just below $16.00 at the moment and might be looking for an opportunity to produce a meaningful correction lower towards $15.00/20 before the rally could be resumed. It is hence recommended to remain flat and look for an opportunity to initiate fresh long positions a bit lower. Immediate support is seen at $15.40/50 followed by $15.00, $14.40, and lower, while resistance is seen at $16.50 followed by $17.50 and higher. Bulls are expected to remain under control until prices stay broadly above $14.00.

Trading recommendations:

Remain flat and buy lower around $15.00/20.

Good luck!

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Technical analysis of Gold for October 29 2015 Market Analysis Review

Technical outlook and chart setups:

Gold has yet again dropped to its previous support of $1,160.00 after testing highs at $1,181.00. Please note that the yellow metal could still drop to its Fibonacci 0.618 support at $1,138.00/40.00 before moving towards the levels of $1,200.00 and $1,230.00. An uptrend, which began from $1,080.00, remains intact until prices stay above the levels of $1,100.00. It is recommended to remain flat and look for an opportunity to enter the lower levels. Immediate support is seen at $1,150.00, while resistance is seen at $1,200.00 followed by $1,230.00 and higher.

Trading recommendations:

Remain flat and go long around $1,130.00/40.00 with stop at $1,100.00.

Good luck!

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

Technical outlook and chart setups:

The EUR/JPY pair seemed to reach a major low at 131.57 yesterday. Please note that the daily chart view presented here suggests that the pair has bounced off the fibonacci 0.618 support levels of the entire rally from the sub-level of 126.00 through 141.00 earlier. The low formed yesterday could be a major infliction point for the next potential rally through fresh swing highs. It is highly recommended to initiate fresh long positions now with risk around 131.40/50. Immediate support is seen at 131.00 followed by 129.00 and lower, while resistance is seen at 137.00 followed by 138.00/139.00 and higher.

Trading recommendations:

Initiate fresh long positions with stop at 131.40/50, a target is open.

Good luck!

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for October 29 2015 . Thanks for your support.

Technical analysis of GBP/CHF for October 28, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair hit another high around 1.5180 yesterday before pulling back. Structurally, the pair has almost completed the first leg of its rally that had begun from mid 1.4500's earlier by clearly surpassing major resistance at 1.5120. The pair is now expected to produce a meaningful correction towards 1.4700/1.4800 from here. It is hence recommended to initiate 50% short positions now with risk above the level of 1.5230 as an aggressive trade strategy. Immediate support is seen at 1.5000, while resistance is seen at 1.5350 followed by 1.5400/10.

Trading recommendations:

Remain short with risk above the level of 1.5230.

Good luck!

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/CHF for October 28, 2015 . Thanks for your support.

Elliott wave analysis of EUR/NZD for October 29, 2015 Market Analysis Review

Wave summary:

We saw a nice test of strong resistance near 1.6500 yesterday, but no break above this resistance was seen. We do however expected that a break above here will be seen soon for a move closer to 1.6950. That said we also have to be aware of the risk of a breakout below support at 1.6124, which is likely to extend the downside for a decline closer to 1.5882. This is not our preferred outcome, but if support at 1.6124 is broken that will become our preferred count.

Trading recommendation:

We are long EUR from 1.6390 with stop placed at 1.6180. If you are not long EUR yet, then wait a buy a break above 1.6515 for a rally closer to 1.6950.

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For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/NZD for October 29, 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for October 29, 2015 Market Analysis Review

Wave summary:

If we see a weekly close below 132.17, we can expect a breakout below the support-line at 94.12 and a return to 126.05 and lower to 119.90. Looking at the shorter time frame, a decline to 130.90 is in the cards to end red wave 1 and set the stage for a more substantial correction back to the area of 133.55 - 133.92 in red wave 2. That said we should be aware of the risk of an accelerating decline to 126.05 and lower.

Trading recommendation:

We took profit on our short position at 133.55. We will look for a new shorting opportunity in the coming sessions.

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For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/JPY for October 29, 2015 . Thanks for your support.

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

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

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0977.

Strong Resistance:1.0971.

Original Resistance: 1.0960.

Inner Sell Area: 1.0949.

Target Inner Area: 1.0924.

Inner Buy Area: 1.10899.

Original Support: 1.0888.

Strong Support: 1.0877.

Breakout sell Level: 1.0871.

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 29, 2015 . Thanks for your support.