Technical analysis of USD/JPY for January 07, 2016 Market Analysis Review

Market Overview:

The Japanese yen is one of major currencies that can become stronger against the US dollar in this new 2016 year. Although, in a bigger time frame, it seems to be in a ranging condition, but on the intraday chart, the yen is strengthening against the greenback.

Economic Data:

Today, Japan will release its reports on the 30-y Bond Auction, and the United States will publish its data on Natural Gas Storage, Unemployment Claims, Challenger Job Cuts y/y. Amid these statistical reports, the USD/JPY pair could be moving in low to medium volatility today.

Technical Data:

Weekly Bias: ranging

Daily Bias: bearish (stronger yen)

Technical Levels:

Resistance 3: 118.81

Resistance 2: 118.58

Resistance 1: 118.35

Support 1: 118.06

Support 2: 117.83

Support 3: 117.60.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.

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Technical analysis of EUR/USD for January 07, 2016 Market Analysis Review

Market Overview:

Entering the new 2016 year, we were struck by two important events. The first one is geopolitical conflicts between UAE and Iran, and the second event is the hydrogen bomb test by North Korea. Both of these events worry market participant so they choose USD as safe-haven instrument. No wonder most major currencies are experiencing bearish condition, especially the euro.

Economic Data for Today:

The eurozone will release the data on Retail Sales m/m, Retail PMI, and Unemployment Rate. Reports on Italian Monthly Unemployment Rate, German Retail Sales m/m, and German Factory Orders m/m will see the light of day as well. Statistics on Natural Gas Storage, Unemployment Claims, and Challenger Job Cuts y/y will be unveiled in the United States. Amid the data, EUR/USD is likely to move today with low to medium volatility.

Technical Data for Today:

Weekly Bias: Down

Daily Bias: Ranging

Technical Levels for Today:

Breakout BUY Level: 1.0829

Strong Resistance: 1.0823

Original Resistance: 1.0812

Inner Sell Area: 1.0801

Target Inner Area: 1.0776

Inner Buy Area: 1.0751

Original Support: 1.0740.

Strong Support: 1.0729.

Breakout SELL Level: 1.0723.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.

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 Technical analysis of EUR/USD for January 07, 2016 . Thanks for your support.

Daily analysis of major pairs for January 7, 2016 Market Analysis Review

EUR/USD: There is a vivid bearish signal for this trading instrument as bears push the price lower and lower. The EMA 11 is below the EMA 56 and the Williams' % Range period 20 is not far from the oversold region. Potential targets for this week remain at 1.0700 and 1.0650.

USD/CHF: The USD/CHF pair is in an uptrend, and given the current price action, it would be nice to buy pullbacks in the market. This is because the upward journey would continue, but there would be occasional muscles flexing the bears leading to occasional bearish corrections. The time during these corrections would be ideal for long trades in case a bullish candle forms next. Right now, there is a correction, following desperate attempts to breach the resistance level at 1.0100. Bulls might succeed in breaking that resistance level to the upside.

GBP/USD: Since mid-December, the Cable has gone down by 600 pips. There is a clear bearish confirmation pattern on the chart, which means the price could continue with its downward journey. The accumulation territory at 1.4600 stands a great chance of being tested. It also stands a great chance of being broken to the downside as the price goes further down.

USD/JPY: The USD/JPY pair has gone down by almost 145 pips this week, and right now, the price threatens to break down further. There is a lot of trading activity around the accumulation territory of 118.50, which might be easily broken to the downside. Further downward movement is possible in the market, and therefore, short trade should be sought.

EUR/JPY: This cross has almost tested the demand zone at 127.00. The bearish bias is now very strong, and any rallies should be taken as short-selling opportunities in this kind of market. In spite of bullish attempts – like the one being seen right now – the demand zone at 127.00 could still be breached to the downside.

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Daily analysis of USDX for January 07, 2016 Market Analysis Review

There is a corrective phase ongoing at USDX, which could test the support level of 99.07 again in coming days. However, the overall structure is still pointing to the upside, and that is why the bullish bias is still strong. The 200 SMA is pointing to the upside and a breakout around the resistance level of 99.58 will expose the Index to test the 99.87 level.

H1 chart's resistance levels: 99.58 / 99.87

H1 chart's support levels: 99.07 / 98.90

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is 99.58, take profit is at 99.87, and stop loss is at 99.31.

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Daily analysis of GBP/USD for January 07, 2016 Market Analysis Review

GBP/USD has been trading above the support level of 1.4608 after another session of declines on a short-term basis. On the H1 chart, a strong bottom was found around that level, so we can expect a rebound towards the resistance level of 1.4702 in coming days. The MACD indicator is in positive territory.

H1 chart's resistance levels: 1.4702 / 1.4802

H1 chart's support levels: 1.4608 / 1.4464

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is 1.4608, take profit is at 1.4464, and stop loss is at 1.4755.

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Daily analysis of EUR/JPY for January 06, 2016 Market Analysis Review

Overview

EUR/JPY continues falling today and reaches as low as 127.31 so far. Intraday bias remains on the downside to test the 126.09 key support level. We stay cautious about strong support from 126.09. But a break of the 129.66 support, turning it into resistance, is needed to indicate short-term bottoming. Otherwise, the outlook will stay bearish. A decisive break of 126.09 will extend the larger decline from 149.76. A strong rebound after failing to sustain below 38.2% retracement of 94.11 to 149.76 at 128.50 points to the development of a sideways pattern. We expect more range trading between 126.09 and 149.76 in the medium term. An upside breakout should come next at a later stage. Nevertheless, a decisive break of 126.09 would extend the correction towards 61.8% retracement at 115.36.

Daily Pivots: (S1) 127.16; (P) 128.31; (R1) 129.12

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Daily analysis of Silver for January 06, 2016 Market Analysis Review

Overview

The silver price shows more fluctuations around 13.96 and the EMA 50. Therefore, there is no change in our main bearish overview that depends on the stability of the daily close below 14.25, waiting to head towards 13.50 followed by 13.00 initially. Stochastic starts to offer negative overlapping signal that might motivate the price to resume the bearish bias in the upcoming sessions. The silver price have not shown any strong moves since morning, moving near the 13.96 level. This keeps the bearish trend scenario valid (no changes seen today), targeting 13.50 then 13.00 levels mainly. Its continuation is conditioned by holding below the 14.25 level.

Expected trading range for today is between the 13.50 support and 14.25 resistance.

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