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

GBP/JPY is expected to trade in a lower range as a downside movement prevails . The pair remains capped by its declining 50-period intraday moving average and stays on the downside. Meanwhile, the intraday relative strength index lacks upward momentum. The first downside target is therefore set at the horizontal support and overlap at 184.90. A breakout below this level would open the way to further weakness towards 184.30.

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 184.90. A break of that target will move the pair further downwards to 184.30. The pivot point stands at 186. 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 186.40 and the second target at 187.

Resistance levels: 186.40 187 187.75

Support levels: 184.90 184.30 183.70

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Global macro overview for 24/112015 Market Analysis Review

Global macro overview for 24/11/2015:

Some good news has been delivered from Germany this morning. The German GDP increased 0.3% q/q (1.8% y/y), which was in line with expectations. The Ifo Business Climate index beat the expectations as it was reported at the level of 109 vs. the forecast of 108.3 and 108.2 in the previous month. It posted the best showing since June 2014. Moreover, all of the Services and Manufacturing PMIs released yesterday were above the level of 50 , which separates contraction from expansion. The manufacturing and services sectors are expanding, which is the good news, as the eurozone's economy has been hampered by the weak growth.

After breaking higher above the golden trend line, the EUR/USD pair is trading slightly below the technical resistance at the level of 1.0669. The support is seen at the level of 1.0619.

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Global macro overview for 24/11/2015 Market Analysis Review

Global macro overview for 24/11/2015:

The Inflation Report Hearings event (The Treasury Committee is appointed by the House of Commons to examine the expenditure, administration, and policy of HM Treasury, HM Revenue & Customs, and associated public bodies, including the Bank of England and the Financial Services Authority) has taken place at 12:00 am today. The most important news for traders and investor was the BoE Chief Economist Haldane remarks about further inflation projection, which is crucial for the UK economy right now. Haldane said that downside inflation risks are worse than in the recent inflation report, so the inflation target of 2% gets harder and harder to reach any time soon.

The GBP/USD pair has reacted negatively to the event. It hit a new local low on the hourly chart. The resistance level is seen at 1.5153. Next support is seen at the level of 1.5026.

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Gold : analysis for November 24 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading downwards. As I had expected, the price tested the level of $1,075.02. In the daily time frame, I found a supply bar in a high volume and rejection from our SMA10. Our strong support around the levels of $1,075.00-$1,080.00 became strong resistance (changing polarity) now. In the 1H time frame, I found very low activity and corrective movements. I have placed a diagonal trend line, and a potential breakout of this line will confirm a further continuation downwards. Next strong daily support is seen around the level of $1,046.00.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,070.15

R2: 1,071.15

R3: 1,072.80

Support levels:

S1: 1,066.90

S2: 1,652.95

S3: 1,064.30

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

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EUR/NZD : analysis for November 24, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6350 in an average volume. I am waiting for larger activity and stronger price actions. The short-term trend is still neutral. The major 21-day support at the level of 1.6150 held successfully. In the H4 time frame, I found strong resistance at the level of 1.6350 (currently on the test). Our strong support at the level of 1.6350 became strong resistance since its was broken. I found changes n polarity and my advice is to watch for potential intraday selling opportunities. The profit zone is seen around the level of 1.6180. Anyway, if the price breaks the level of 1.6350 in a high volume and close clearly above that level, we may see further upward movement.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6345

R2: 1.6380

R3: 1.6435

Support levels:

S1: 1.6235

S2: 1.6200

S3: 1.6145

Trading recommendations : Intraday selling opportunities are preferable. Buying opportunities are preferable only if the price breaks and close above the resistance level of 1.6350.

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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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