Technical analysis of EUR/USD for November 20, 2015 Market Analysis Review

Overview:

In the short term, the EUR/USD pair will probably turn to a bearish trend from the level of 1.0722.The level of 1.0722 represents the ratio of 50% Fibonacci on the H1 chart and also the double top at the same frame time since last week. Accordingly, it will be a good sign to sell below 1.0722 with the first target of 1.0641 to test the the daily pivot at this price. Then, it will call for a downtrend in order to continue with its bearish movement towards 1.0602 (the weekly minor support). Moreover, the strong support will be set at the level of 1.0533 in the next hours. At the same time, the stop loss should be placed above the weekly pivot point at the price of 1.0758. Equally important, the weekly resistance will be set at the 1.0750 level.

Intraday technical levels:

Date | Time: 20/11/2015 | 10:46

Pair: EUR/USD

• R3: 1.0885
• R2: 1.0824
• R1: 1.0778
• PP: 1.0717
• S1: 1.0671
• S2: 1.0610
• S3: 1.0564

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Technical analysis of NZD/USD for November 20, 2015 Market Analysis Review

NZD/USD is expected to trade with bullish bias as the upside prevails. The pair managed to break above its previous resistance at 0.6540, and posted a new bounce yesterday. The intraday outlook is bullish now, as the process of higher highs and lows has been confirmed. The intraday relative strength index remains bullish above its neutrality area at 50. The 20-period and 50-period moving averages act well as support roles. Hence, as long as 0.6540 holds on the downside, look for further advance to 0.6615 and 0.6645 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 0.6615 and the second target at 0.6645. In the alternative scenario, short positions are recommended with the first target at 0.65 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 0.6450. The pivot point is at 0.6540.

Resistance levels: 0.6615 0.6645 0.6695 Support levels: 0.65 0.6450 0.64

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Technical analysis of GBP/JPY for November 20, 2015 Market Analysis Review

GBP/JPY is expected trade in a lower range as the key resistance is at 188.25. The pair remains capped by its key resistance at 188.25 and stays on the downside. Meanwhile, the intraday relative strength index lacks upward momentum. The first target to the downside is therefore set at the horizontal support and overlap at 187.20. A break below this level would open the way to further weakness towards 186.80.

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 187.20. A break of that target will move the pair further downwards to 786.80. The pivot point stands at 188.25. 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 188.85 and the second target at 189.30.

Resistance levels: 188.85 189.30 190

Support levels: 187.20 186.80 185.95

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Gold : analysis for November 20 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading upwards. The price tested the level of $1,087.21. In the daily time frame, I found a strong demand bar in a high volume testing our SMA10. Our strong support around the levels of $1,075.00-$1,080.00 became strong resistance (changing polarity) now. In the M30 time frame, I found a volume spike (buying climax ) at the level of $1,083.70 and then the up-thrust bar (sellers overcomed buyers). Be careful when buying at this stage and watch for potential intraday selling opportunities.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,082.30

R2: 1,083.40

R3: 1,085.50

Support levels:

S1: 1,078.45

S2: 1,070.30

S3: 1,075.35

Trading recommendations: Be careful when buying gold since the price testing our strong resistance level. Watch for potential selling opporutnities.

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USDX technical analysis for November 20, 2015 Market Analysis Review

The US dollar index broke support yesterday after backtesting resistance at 99.50. Bulls are vulnerable here as there are a lot of chances to see a deeper correction towards at least 97. For now, bulls are still in control as the price is above 99 again holding cloud support.

Blue lines -bullish channel

Red lines - bearish divergence

The US dollar index is above the cloud thus bulls are still in control. The bullish channel is broken. Support is found at 99, so a daily close below that level will open the way to a deeper correction. Short-term levels are oversold, so we could see another bounce towards 99.50 today.

Red line - support

The US dollar index broke below the red TL support but is trading back above it now. A lower low relative to yesterday will open the way to a push lower towards the green area shown in the daily chart above. The levels of 97.50-97 are my target area in the short term.

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EUR/NZD analysis for November 20, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6225 in a high volume. I am waiting for larger activity and stronger price actions. The short-term trend is still neutral. The major 20-day support zone is seen at the level of 1.6150. Be careful when selling EUR/NZD before a breakout of the key support level takes place. In the the daily time frame, we can see a supply bar in a high volume. I had placed Fibonacci retracement to find potential support levels and got Fibonacci retracement 50% at the level of 1.6260 and Fibonacci retracement 61.8% at the level of 1.5700. In the M30, I found weak demand around the level of 1.6280.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6450

R2: 1.6490

R3: 1.6560

Support levels:

S1: 1.6310

S2: 1.6260

S3: 1.6190

Trading recommendations: Selling opportunities are preferable only if the price breaks the level of 1.6150. Watch for a potential high-volume breakout to confirm the further downward direction.

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Gold technical analysis for November 20, 2015 Market Analysis Review

Gold price has made a strong bounce yesterday towards the first important short-term resistance at $1,090. I have warned gold bears that this is not the time to go short on gold despite the new yearly lows. The price is at the oversold levels and on the top of the major long-term Fibonacci retracement.

Blue lines - bearish channel

Red line - resistance

Gold price is trading well below the Ichimoku cloud but has exited the bearish channel in the daily chart above. Stochastics are turning upwards implying that momentum will be bullish and a bounce towards $1,130 is very possible.

The weekly chart above shows that the price is at the important long-term Fibonacci retracement of 50%. The weekly stochastics have entered oversold levels. The last time this happened, saw a rise from $1,077 to $1,190. A minimum target of the expected bounce is seen at the level of $1,130 where we found the tenkan- and kijun-sen.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 technical analysis for November 20, 2015 . Thanks for your support.