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

Technical outlook and chart setups:

Crude has reacted well at the Fibonacci 0.618 levels at the 42.50 levels yesterday by forming a huge engulfing bullish candlestick pattern on the daily chart. The commodity trades above the 45.50 levels at the moment, looking to hit yet another high before pulling back lower. Structurally, bulls shall remain poised and in control to push through the 56.00 levels in the coming sessions, till prices stay above 42.00 and subsequently above 38.00. It is hence recommended to remain long for now and also look to add further on intraday dips. Immediate support is seen at the 42.50 levels, followed by 41.70 and lower, while resistance is seen through the 48.00 levels, followed by 51.00 and higher.

Trading recommendations:

Remain long from yesterday, stop is at 39.00, target is 56.00.

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 Crude for October 29, 2015 . Thanks for your support.

Gold analysis for October 29 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading downward. The price tested the level of $1,152.13. The intraday and short-term trends changed from upward to downward. In the daily time frame, we can observe an strong supply bar in a high volume. In the H1 time frame, we can observe a volume spike (massive selling climax) in the background at the level of $1,152.13. Also, our strong support at the level of $1,162.00 now act like strong resistance. The price is below Ichimoku cloud in all frames from M1 to H4. Be careful when buying at this stage since we may expect a downward continuation. Only if the price breaks the level of $1,183.00, it will confirm absorption. Otherwise, watch only for selling opportunities.

Daily Fibonacci pivot points :

Resistance levels

R1: 1,181.20

R2: 1,183.50

R3: 1,185.90

Support levels:

S1: 1,175.40

S2: 1,173.60

S3: 1,170.70

Trading recommendations: Be careful when buying gold at this stage and watch for potential selling opportunities.

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 Gold analysis for October 29 , 2015 . Thanks for your support.

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

Overview:

Recently, EUR/NZD has been moving sideways around the level of 1.6450. In the daily time frame, we can observe a neutral bar. Our Fibonacci major retracement 50% held successfully and the price was rejected. An intraday trend is upward (the price is above Ichimoku cloud in the H1 and M30 charts), but the short- and mid-term trend is still downward (the price below Ichimoku cloud in a daily and H4 time frame). So, I would wait for a clear trend in both time frame. According to the H1 time frame, we can observe a volume spike (selling climax) after yesterday's news. We may see potential absorption, but only if the price breaks the level of 1.6510.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6460

R2: 1.6520

R3: 1.6615

Support levels:

S1: 1.6265

S2: 1.6205

S3: 1.6105

Trading recommendations: Intraday buying opportunities are preferable, but the trend is neutral.

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 EUR/NZD analysis for October 29, 2015 . Thanks for your support.

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

Overview:

• The NZD/USD pair has been moving in a downtrend since yesterday. So, according to prior events, the NZD/USD pair has still been moving between the ratio of 50% Fibonacci retracement levels at the level of 0.6755 and 50% Fibonacci retracement at the level of 0.6565. Furthermore, the price opened below the ratio of 78.6% Fibonacci retracement levels (0.6755). Also, resistance is set at the levels of 0.6755/0.6700 today.Therefore, sell below the level of 0.6695 with the first target at 0.6625. It should be noticed that the minor support has already been set at the level of 0.6625. Moreover, in case a reversal takes place and the NZD/USD pair breaks through the support level of 0.6625, the market will make a decline to 0.6560 in order to indicate a correctional movement at this level. Meanwhile, the H4 chart presents strong support at 0.6565, which forms the double bottom.

Intraday technical levels:

• Resistances: 0.6755 | 0.6818
• Pivot point: 0.6670
• Support: 0.6565 | 0.4688

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 NZD/USD for October 29, 2015 . Thanks for your support.

Global macro overview for 29/10/2015 Market Analysis Review

Global macro overview for 29/10/2015:

The US GDP data is due to be released at 12:30pm GMT today being highly anticipated as the most important fundamental event today. After last quarter's strong gains, the market expects data to come out lower (1.6%q/q vs. 3.9% q/q; 2.7% y/y prior), but please remember this is "advance" data ( (seasonally adjusted annual rate), so the impact on the US dollar might be still high.

After yesterday's FOMC meeting minutes, the EUR/USD pair declined to the level of 1.0894, but managed to re-bound. It is currently is trading at the level of 1.0955. The next resistance is seen at the level of 1.0998.

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 Global macro overview for 29/10/2015 . Thanks for your support.

USDX technical analysis for October 29, 2015 Market Analysis Review

The US dollar index broke above important resistance levels yesterday after the FOMC had announced its decision to maintain rates unchanged. The current price action is very bullish in the longer-term, but bulls could expect a short-term pullback.

Red line - resistance (broken)

The US dollar index has broken above the important resistance at 97.25. However, a rise from 93.80 can be seen, so we expect a pullback towards 97 in a couple of days to back test the breakout area or even towards the 38% Fibonacci retracement.

Red line - weekly resistance

Green line -weekly support

The US dollar index has broken above the weekly resistance trend line. The price is above the weekly cloud support. A long-term view has changed to bullish however we should be patient and see where this week's candle closes. With the US dollar index reaching a higher high, bulls are in control even if we make a pullback next week. Buy actions should be preferred with 94 as stop and targets of new highs.

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 USDX technical analysis for October 29, 2015 . Thanks for your support.

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

Overview:

• The first resistance level of GBP/USD pair will set at the level of 1.5375 and the second key level will set at the 1.5310 level today. Moreover, it should be noted that the level of 1.5310 is representing the minor resistance. Additionally, the 1.5242 level is going to act as a support in the H1 chart. Equally important, the price of the GBP/USD pair is still moving between 1.5310 and 1.5242. It should be noted that a range about 70 pips is expected in coming hours. Furthermore, the trend was very clear indicating downward direction from the double top at the level of 1.6920. As a result, sell at the level of 1.5310 with the first target at 1.5242, it might resume to 1.5172 in order to test the weekly support line. On the other hand, your stop loss should be placed above the level of 1.5375. It will be helpful to set it at the level of 1.5385 today.

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 October 29, 2015 . Thanks for your support.