Technical analysis of EUR/JPY for November 24, 2015 Market Analysis Review

General overview for 24/11/2015 10:30 CET

An ending diagonal scenario is unfolding well as another sub-wave down has been completed. A growing bullish divergence between the price and momentum oscillator supports the view that an anticipated upside breakout will materialize soon. A breakout above the weekly pivot point at the level of 131.13 will be another indication of increasing upside momentum.

Support/Resistance:

129.96 - WS1

130.33 - Intraday Support

130.64 - Intraday Resistance

131.07 - Intraday Resistance

131.14 - Weekly Pivot

131.58 - WR1

Trading recommendations:

Day traders should consider placing buy orders only if the level of 131.06 is clearly violated, with tight SL and TP set at the level of 131.41.

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Technical analysis of USD/CAD for November 24, 2015 Market Analysis Review

General overview for 24/11/2015 10:15 CET

The top for the wave a green is in place and now some internal corrective sub-cycle should unfold. The weekly pivot at the level of 1.3323 is currently providing a good support, but any breakout lower would indicate that the next weekly support at the level of 1.3278 will be tested.

Support/Resistance:

1.3447 - WR2

1.3433 - Intraday Resistnace

1.3403 - WR1

1.3334 - Intraday Support

1.3323 - Weekly Pivot

1.3278 - WS1

Trading recommendations:

The yesterday buy orders' TP level was missed by 15 pips, but the trade was in profit for the most part of the day. Today however, the R/R ratio does not allow us to open a position in either direction, so traders must wait for a better trading setup to occur.

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Daily analysis of major pairs for November 24, 2015 Market Analysis Review

EUR/USD: This EUR/USD pair did not make any significant movement on Monday, though the bias remains bearish. It is possible that the price would continue moving southwards; there is also a possibility that the price will rise sharply.

USD/CHF: This pair also did not move upwards very much on Monday, though the bias is bullish. The price now lays siege at the resistance level of 1.0200, which must be broken to the upside so that the bullish bias could continue. On the other hand, the support levels are found at 1.0150 and 1.0100.

GBP/USD: The cable traded lower on Monday – something that started on Friday. Since then, the price has come down by at least 170 pips, moving closer to the accumulation territory of 1.5100. The next target for bears is easy to be seen: the aforementioned accumulation territory, which would be breached to the downside for the bearish journey to continue.

USD/JPY: The USD/JPY pair is still behaving exactly as it did last week. It just went up and down in a shallow manner, though the bullish bias remains valid. This week, there is a probability that the pair could continue moving upwards owing to the expected loss of stamina in the yen.

EUR/JPY: This cross still shows a strong willingness to continue trending downwards in conjunction with the extant bias in the market. The Bearish Confirmation Pattern looks very strong in the chart, and the weakness in the market should continue as long as the euro is weak versus the yen.

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USDX technical analysis for November 24, 2015 Market Analysis Review

The US dollar bulls might still be in control of the trend, but momentum is declining. I would expect more enthusiasm once we have broken above the recent high, but it seems a correction is needed there first before more buyers can make a real push above the level of 100.

Blue lines - bullish channel

Red lines - stochastic bearish divergence with new highs

The US dollar index remains in a bullish trend as the price is above the Ihcimoku cloud and above both the tenkan- and kijun-sen indicators. Also, the price is trading inside a bullish channel. However, bulls need to be very cautious as we observe divergence signals in the stochastic.

No change are seen in the weekly chart. Support is found at 98.75. If it gets broken, we expect a pullback towards the kijun-sen (yellow line indicator) and towards the 38% Fibonacci retracement. The trend remains bullish. The price is still above cloud. However, bulls need to be very cautious and protect their positions.

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Gold technical analysis for November 24, 2015 Market Analysis Review

I believe пold price is at an important trend-turning point in the short- and long-term trends. The price is expected to perform a strong bounce towards at least $1,120-30. However, there are also many chances that the entire bearish market is over or at its final stages.

Red line - resistance

The 4-hour chart above shows gold trading below the Ichimoku cloud confirming that the short-term trend is bearish. Bulls so far tried to break above the cloud twice and got rejected. We can see a new lower low. We are at the final stages of a decline from $1,190 and we either are going to bounce now or we are going to see $1,050-40 first and then bounce after the third rejection. No matter what , the bounce will certainly come above $1,100.

Red lines - bullish wedge

The weekly chart above shows that the price is trading inside a bullish wedge. Stochastics are at the oversold levels turning upwards. This time things might be different and instead of a bounce we can see the start of a new upward move in gold prices. However, a breakout above the weekly Ichimoku cloud will confirm a trend change.

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Technical analysis of GBP/CHF for November 24, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair seems to be reversing from the level of 1.5430 just ahead of the fibonacci 0.382 support seen at the territory around 1.5360. Please note that the pair has reached a low at 1.5380 today and reversed higher. It is recommended to initiate around 50% of long positions now, and the remaining around 1.5360 if prices manage to reach there. Immediate support is seen at 1.5250 followed by 1.5000 and lower while resistance is seen at 1.5570 and higher. Please also note that the trend-line support is passing closely, hence bulls can remain in control until prices hold the trend-line support.

Trading recommendations:

Initiate 50% long positions remaining at 1.5350, stop is at 1.5250, a target is open.

Good luck!

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Technical analysis of EUR/JPY for November 24, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair seems to be testing lows around 130.30/40 at the moment. Please note that the pair has produced a doji candlestick pattern on the daily charts. A test and reversal could indicate that a potential pullback rally is setting up. While a drop lower could expose the level of 129.00 (the fibonacci 0.786) as support and delay matters further for a pullback. It is recommended to remain flat at the moment and seek further evidence before committing a trade. Immediate support is at 130.30 followed by 129,00 and lower, while resistance is seen at 132.26/30 and higher.

Trading recommendations:

Remain flat now.

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 November 24, 2015 . Thanks for your support.