Technical analysis of Gold for December 28, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold has been drifting in a corrective manner since reaching highs of $1,081.00/82.00 last week. The yellow metal is still expected to drop lower towards the level of $1,060.00 from here before it could receive any major support. The metal could bounce from $1,060.00 or drop further lower into the region around $1,050.00 before bouncing back. It is hence recommended to initiate fresh long positions around $1,060.00 with risk at $1,043.00. Immediate support is seen at $1,060.00 followed by $1,047.00, while resistance is see at $1,081.00/82.00 levels and higher.

Trading recommendations:

Look for an opportunity to buy around $1,060.00.

Good luck!

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Technical analysis of EUR/JPY for December 28, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair dropped to the level of 131.00 as expected earlier. Since then, the pair has been drifting sideways between 131.25 and 132.75 as seen on the H4 chart. Bulls are expected to remain in control until prices remain broadly above the level of 131.00. Please note that the pair has found support at the Fibonacci 0.618 level at 131.00 earlier. It is hence recommended to remain long with risk at the level of 130.00. Immediate support is seen at 131.00 levels (interim) followed by 129.50 and lower, while resistance is seen at 132.75 followed by 133.75 and higher.

Trading recommendations:

Remain long, stop is at 130.00, a target is open.

Good luck!

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Technical analysis of USD/CHF for December 28, 2015 Market Analysis Review

Overview:

• The USD/CHF pair has already faced strong resistance at the level of 0.9912 and now it is approaching it in order to test it. Also, it should be noted that the price is still trading between 0.9910 and 0.9833 and below strong resistance at the level of 0.9912. Therefore, the fact that the yen will move downwards is rather convincing. The fall does not look corrective. It is likely to indicate a bearish opportunity below 0.9912 (you should keep in mind that the weekly pivot point is seen at 0.9888). It will be profitable to sell below 0.9988 with the first target at 0.9863. The pair will call for a downtrend to continue moving towards 0.9833 (around 23.6% of Fibonacci retracement levels in the H1 chart. Furthermore, it should also be said that the double bottom is expected to be formed at 126.00 calling for the strong support. So, the pair can rebound in the area around 0.9809. The market can start showing the bullish signs.

Trading recommendations:

• According to the previous events, the price is expected to remain between 0.9912 and 0.9833.
• The descending movement is likely to begin from the level 0.9112 (strong resistance) with targets seen at 0.9833 and 0.989.

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Technical analysis of EUR/USD for December 28, 2015 Market Analysis Review

Overview:

• The EUR/USD pair has rebounded from the major support level of 1.0930 and it is approaching its support now in order to test it. Moreover, it should be noted that the level of 1.0930 represents the weekly pivot point this week. So, it will probably start moving upside in this area and recover again. Therefore, buy at this spot with the first target at 1.0986 to form the double top and continue towards 1.1008 (it should be noted that this level will form the weekly resistance 1). On the other hand, in case of a breakout at 1.0927, a good place for stop loss is seen below 1.0915.

Observations:

• If the trend is upward, then the strength of the currencies will be defined as following: EUR is in an uptrend and USD is in a downtrend.
• Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.
• Fibonacci is in a trading range; it looks like the trend is trapping and going up or down. If you sell or buy in the long term in this period, you will surely lose your profit.

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Technical analysis of GBP/USD for December 28, 2015 Market Analysis Review

The weekly technical analysis of the GBP/USD pair:

Trading Recommendations:

• According to the previous events, the GBP/USD pair is still moving between 1.4841 and 1.4980 this week. .
• Buy above 1.4841 with the first target at 1.4944, it might resume to 1.4980.
• Below 1.5030 (161.8% of Fibonacci retracement levels), look for further downside with the aim to test the levels of 1.4980 and 1.4950 again.

Observations:

• Please check out the market volatility before investing, because the scenario may have already been invalidate.
• Use historic prices to determine future prices.

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EUR/NZD : analysis for December 28, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving sideways around the level of 1.6065. We can observe low liquidity and weak price action. In the daily time frame, I found a weak supply bar and a strong head-and-shoulders confirmed formation (a broken neckline). According to the H1 time frame, the price is trading below 50, 100, 200 SMA. I found 2 climatic actions in a background and a strong up-thrust bar in an ultra high volume (sign of weakness). Be careful when buying EUR/NZD at this stage since lower prices are expected. I have placed Fibonacci expansion to find potential support levels. I got Fibonacci expansion 61.8% at the level of 1.6070 (broken), Fibonacci expansion 100% is at the level of 1.5840, and Fibonacci expansion 161.8% is seen at the level of 1.5470.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6075

R2: 1.6100

R3: 1.6140

Support levels:

S1: 1.6000

S2: 1.5975

S3: 1.5940

Trading recommendations : Buying EUR/NZD looks very risky at this stage since the price confirmed the head-and-shoulders formation. Watch for potential selling opportunities.

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Gold : analysis for December 28 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading sideways around the level of $1,070.62. In the daily time frame, I found a weakly supply bar, which is a sign that selling looks risky. An intraday trend is neutral. In the 30M-time frame, we can observe successful re-testing of our channel and a breakout of a bullish flag, which made a good buy point at the level of $1,072.00.The first resistance is seen at the level of $1,080.00 and second at $1,088.70. The key price action resistance is seen around the level of $1,100.00.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,076.20

R2: 1,076.50

R3: 1,077.00

Support levels:

S1: 1,075.15

S2: 1,074.80

S3: 1,074.25

Trading recommendations: Watch for potential buying opportunites, selling looks risky.

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