Technical analysis of USD/CHF for November 03, 2015 Market Analysis Review

USD/CHF is choppy. The pair remains in consolidation below its key horizontal level at 0.9910. The intraday RSI lacks momentum, calling for caution. Besides, the 20- and 50-period intraday MAs are turning flat from a positive slope. In this case, the pair may continue consolidating within the range between 0.9910 and 0.9815 in the coming trading hours. However, as long as the resistance at 0.9910 is not surpassed, the risk of the break below 0.9815 remains high.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.9815. A break of that target will move the pair further downwards to 0.975. The pivot point stands at 0.9910. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.9960 and the second target at 1.00.

Resistance levels: 0.9960 1.000 1.0060

Support levels: 0.9815 0.9755 0.9710

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Technical analysis of NZD/USD for November 03, 2015 Market Analysis Review

GBP/USD is expected to trade in a higher range and the pair is bullish above 0.6695. The pair is currently testing its horizontal level at 0.6732 and 0.6695 which represents a strong support base and should allow for a temporary stabilization. Even though a consolidation cannot be ruled out at the current stage, its extent should be limited, as long as 0.6695 is not broken. Upward targets are set at 1.55100.6785 and 0.6810.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.6785 and the second target at 0.6850. In the alternative scenario, short positions are recommended with the first target at 0.6670 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6640. The pivot point is at 0.6695.

Resistance levels: 0.6785 0.6810 0.6850 Support levels: 0.6670 0.6640 0.6610

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Technical analysis of GBP/JPY for November 03, 2015 Market Analysis Review

GBP/JPY is expected to trade with a bullish bias. The pair is holding above its being support at 185.50 and is supported by its 50-period intraday MA. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. A further upside is therefore expected with the next horizontal resistance and overlap set at 186.75 at first. A break above this level would call for a further advance towards 187.30 in extension.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 186.75 and the second target at 187.30. In the alternative scenario, short positions are recommended with the first target at 185 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 184.60. The pivot point is at 185.50.

Resistance levels: 186.75 187.30 188.05

Support levels: 185 184.60 184.00

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Technical analysis of EUR/JPY for November 3, 2015 Market Analysis Review

General overview for 03/11/2015: 08:30 CET

The market keeps trading in a tight congestion zone just around the weekly pivot at the level of 132.81. This situation might last up to the Friday US data on non-farm payrolls, so any waves evolving into more complex corrections should not be surprising.

Support/Resistnace:

131.58 - Intraday Support

131.75 - WS1

132.82 - Weekly Pivot

133.73 - Intraday Resistance

133.70 - 133.92 - Demand Breakthrough Zone

Trading recommendations:

Day traders should refrain from trading until a clearer trading setup occurs.

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Technical analysis of USD/CAD for November 3, 2015 Market Analysis Review

General overview for 03/11/2015 08:15 CET

The internal sub-wave four is now in progress and one more marginally lower low is needed to complete wave labeled as -iii- or c. In that case, the overall cycle would be labeled as abc irregular correction wave 2, so further upside wave development would be anticipated. Any violation of the level of 1.3192 invalidates the view.

Support/Resistnace:

1.3276 - Swing High

1.3123 - Intraday Resistnace

1.3115 - Weekly Pivot

1.3053 - Intraday Support

1.2954 - WS1

Trading recommendations:

Day traders should consider buying on the dips in this market with tight SL and TP open for now.

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Technical analysis of GBP/CHF for November 03, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has produced a star doji candlestick pattern after printing highs around 1.5300 levels yesterday. It indicated a potential reversal at least in a corrective manner through the 1.4800/1.4900 levels. Please also note that the pair would be well supported around the resistance turned support trend line as depicted here. It is therefore recommended to remain flat for now and look to initiate long positions at lower levels. Immediate support is seen at 1.5100 levels, followed by 1.5000, 1.4950 and lower, while resistance is seen at 1.5350 levels, followed by 1.5400/10 and higher respectively.

Trading recommendations:

Remain flat for now and look to enter around 1.48/1.49 levels.

Good luck!

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Technical analysis of EUR/JPY for November 03, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair looks to be stuck around 133.00 levels for the latest couple of trading sessions. To summarize the wave counts, please note that the pair has corrected itself from sub 141.00 levels and bounced off the fibonacci 0.618 support levels around mid 131.00 levels, last week. It has produced an engulfing bullish candlestick pattern, indicating that the next major move could be on the north side. It is hence recommended to remain long for now with risk just below 131.00 levels. Immediate support is seen at 131.50 levels (interim), followed by 130.00 and lower while resistance is seen through 137.00/138.00 levels, followed by 139.00 and higher respectively.

Trading recommendations:

Remain long for now, stop at 131.00, a target is open.

Good luck!

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