Technical Analysis of GBP/USD for November 25, 2014 Market Analysis Review

GBP/USD

The cable has been consolidating at the lower levels. It seems the cable is forming a base at 1.5590. The trading range is framed between 1.5590 and 1.5737. Today, the pair opened on a bearish note unable to breach the previous day's high at the Asian session. As of now, on the weekly chart the cable formed a double bottom at 1.5590. In case if the cable holds the 1.5590 the double bottom, can turn to the triple bottom on the weekly chart. In case if this happens, we can expect some technical bounce towards 1.5810 and 1.5880. We recommend fresh buying above 1.5740 with the targets at 1.5770, 1.5800, 1.5850, and 1.5880. We recommend selling below 1.5670 with the targets at 1.5640 and 1.5630. In case if the cable falls below 1.5630, the last bulls hope exists at 1.5590. Below this, panic will be triggered with 100 or 150 pips down side. On the hourly chart, we can observe continuation of the symmetrical triangle. The height of the triangle is 147 pips.

Trade:

Selling below 1.5670.

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Technical Analysis of EUR/USD for November 25, 2014 Market Analysis Review

The business climate indicator rose after six consecutive shrinks. The Ifo Business Climate Index for industry and trade in German rose to 104.70 from 103.20 points in October. The manufacturing sector gives a big thumbs up in the export business. The Euro gained 80 pips in yesterday's session, closed at days high. The pair managed to held at the previous low and gave strong close. The further outlook on the Euro is still bearish because of easing. We recommend fresh selling below 1.2350 with the targets at 1.2320, 1.2300, 1.2250, and 1.2226. In case if the prices close below 1.2226, it can extend its fall up to 1.2100. Now the focus shifts on Thursday heavy economic data. German and Spanish CPI data and OPEC meeting are the key attraction of this week ahead. There is a lot of uncertainty in the fall in oil prices.

Today the pair opened on a bearish note, unable to breach the previous high at Asia's session. The pair has been facing strong resistance in broken support trend line. In case if the prices manage to stay above 1.2445, then they can aim up to 1.2490 20Dsma. We still recommend the same strategy, use every rise to sell. Until the prices close below 1.2490, use every rise to sell.

Trade: Strong selling will emerge below 1.2320.

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Technical analysis of EUR/USD for November 25, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Final GDP q/q and Italian Retail Sales m/m. The US will also release the economic data such as the Prelim GDP q/q, Prelim GDP Price Index q/q, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, and Richmond Manufacturing Index. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2490.

Strong Resistance:1.2482.

Original Resistance: 1.2470.

Inner Sell Area: 1.2458.

Target Inner Area: 1.2428.

Inner Buy Area: 1.2398.

Original Support: 1.2386.

Strong Support: 1.2374.

Breakout SELL Level: 1.2366.

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 advisor if you have any doubts.

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Technical Analysis on Gold for November 25, 2014 Market Analysis Review

The yellow metal is facing strong resistance at $1,200.00. In yesterday's session, the metal rejected at $1,200.00 level and closed below that. Today, the metal opened on a bearish note, opened higher at $1,198.60. The metal has strong resistance between $1,205.00 and $1,207.00. Until the metal closes below these levels, bears have an upper hand. The metal was supported by China rate cut decision. This week, we can expect high volatility in the metal prices. The Swiss gold referendum will take place on November 30, 2014. The nearest weekly resistance exists at $1,213.50, above this $1,240 and $1,243.00 are the major resistance levels. Bulls will regain the strength, in case if the metal prices close above $1,207.00. Today, the focus shifts to US consumer confidence and GDP data.

From an intraday view, the prices are taking support at $1,295.50, below this $1,294.00 and $1,192.50 are the support levels. In the hourly chart, the metal is making higher highs and higher lows. The panic will be triggered below $1,174.00. After Fisher's inflation comments, gold started falling. We recommend intraday selling below $1,192.00 with the targets at $1,189.50, $1,186.40, $1,184.60, and $1,180.00 levels.

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Technical analysis of USD/JPY for November 25, 2014 Market Analysis Review

In Asia, Japan will release the Monetary Policy Meeting Minutes, SPPI y/y, and BOJ Gov Kuroda Speech. The US will publish some economic data such as Prelim GDP q/q, Prelim GDP Price Index q/q, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, and Richmond Manufacturing Index. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 118.58.

Resistance. 2: 118.35.

Resistance. 1: 118.12.

Support. 1: 117.83.

Support. 2: 117.60.

Support. 3: 117.37.

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Daily analysis of USDX for November 25, 2014 Market Analysis Review

The USDX has made a pullback at the level of 88.45, although this instrument continues forming a bullish pattern above the trend line level of 88.15. If the USDX takes a breakout at the 87.93 level, one would expect to fall at the level of 87.65. The MACD indicator is entering the neutral territory.

H4chart's resistance levels: 88.19 / 88.65

H4chart's support levels: 87.93 / 87.35

In the H1 chart, the USDX made a retracement at the level of 88.15. So, this is likely to fall to the instrument support level of 87.86, where the 200 SMA is located. A breakout below that area, could endanger the current bullish trend in the USDX. On the other hand, if the USDX manages to surpass the level of 88.43, the bullish trend could last several days.

H1 chart's resistance levels: 88.15 / 88.43

H1 chart's support levels: 87.86 / 87.58

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 at 88.15, take profit is at 88.43, and stop loss is at 87.87.

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Daily analysis of GBP/USD for November 25, 2014 Market Analysis Review

On the daily chart, the GBP/USD pair continues forming a bearish pattern above the support level of 1.5642, so this pair has moved into a low range in the recent days. However, the correction in the GBP/USD pair could extend to the level of 1.5883 in the medium term. Note that this pair formed a fractal in the level of 1.5746. The MACD indicator is in the neutral territory.

H4chart's resistance levels: 1.5746 / 1.5883

H4chart's support levels: 1.5642 / 1.5506

The GBP/USD pair has made a breakout at the level of 1.5686 and now GBP/USD is facing resistance at the 200 SMA on the H1 chart. If the GBP/USD pair manages to form a bullish pattern over the area, the next target would be the resistance level of 1.5739, which is the high of November 20th. The bearish road at the support levels are 1.5686 and 1.5632. The MACD indicator is entering the overbought area.

H1 chart's resistance levels: 1.5739 / 1.5810

H1 chart's support levels: 1.5686 / 1.5632

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 at 1.5686, take profit is at 1.5632, and stop loss is at 1.5740.

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