Technical Analysis on Gold for November 26, 2014 Market Analysis Review

The metal has been facing strong resistance exists at 50Dsma. In the previous session, the metal fell to 1190.00, but managed to close with marginal gains. Today, the metal opened on a bearish note, opened higher at $1,201.50. Today, the focus shifts to US durable goods orders, personal spending, and the PCE price index. The metal has strong resistance between $1,205.00 and $1,207.00. Until the metal closes below above these levels, bears have an upper hand. 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 strength, in case if the metal prices close above $1,207.00. From an Intraday view, the prices are taking support at $1,198.00, below this $1,195.90, $1,193.00, and $1,190.00 are the support levels. In the hourly chart, the metal is making higher highs and higher lows. We recommend intraday selling below $1,198.00 with the targets at $1,195.00, $1,193.00, and $1,190.00. In case if the prices correct below $1,190.00, it can extend its fall up to $1,188.00, $1,186.00, and $1,180.00. The panic will be triggered below $1,174.00.

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Technical Analysis on GBP/USD for November 26, 2014 Market Analysis Review

The cable is continuing its consolidation phase between 1.5590 and 1.5737. As of now, the pair made a triple top at the 1.5537 levels. The trading range is framed between 1.5590 and 1.5737. As of now, today the pair is unable to breach previous day's high. The mixed US data pushed the US dollar down against most of the pairs. The US consumer confidence report was weak, but the GDP expanded more than forecast in the 3rd quarter. The US dollar didn't respond to the positive GDP data. Maybe this a bit concern in the near term for bulls. As of now, in the weekly chart the cable has formed a double bottom at 1.5590. In case if the cable holds at the 1.5590, the double bottom can turn into a triple bottom on the weekly chart. In case if this happens, we can expect some technical bounce towards 1.5810 and 1.5880. Today, the focus shifts to US durable goods orders, personal sending, and the PCE price index. In the UK, second estimate GDP data will provide a clear picture. We recommend fresh buying above 1.5740 levels 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 for 100 or 150 pips down side. In the hourly chart, we can observe continuation of the symmetrical triangle. The height of the triangle is 147 pips.

Trade: Buying above 1.5740

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Technical analysis and trading recommendation on GBP/JPY for November 26, 2014 Market Analysis Review

The pound continues its winning streak for 6 weeks in a row. This week the cross is unable to breach the previous week high at 186.15. We recommend fresh buying only above the 186.20 levels. Today, the pair opened on a bearish note. The pair has support at 184.89. In case if the prices close above 186.15 on a daily basis, the pair challenges 186.90, 187.45, and 188.30. On the down side, in case if the price falls below 184.89, the pair can correct up to 184.70, 184.50, and 184.00. The panic will be triggered below the 183.90 levels. In the hourly chart, the prices are forming continuous symmetric triangle. We recommend risky trade buying above 185.60 with immediate targets at 186.00 and 186.10. For bears, we recommend selling below 184.50 with the targets at 184.30, 184.00, and 183.60. Risky traders can sell below the 184.70 levels. Today, the focus has shifted to second estimate of UK's GDP.

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Technical analysis and trading recommendation on EUR/USD for November 26, 2014 Market Analysis Review

The mixed US data pushed the US dollar down against most of the pairs. The US consumer confidence report was weak, but the GDP expands more than the forecast in the 3rd quarter. The euro stood high against the US dollar, gaining 30 pips. In yesterday's session, the pair faced resistance at 20Dsma or 1.2490 levels. In case if the pair breaches 1.2490, it has another multiple resistance at 1.2510. We recommend fresh intraday buying only above 1.2510 with the targets at 1.2575 and 1.2610. The hourly stochastic is indicating buying signal. Risky traders can buy at the 1.2490 levels. On the down side, the pair has support at 1.2440, 1.2400, and 1.2358. In the hourly chart, the prices are making a double bottom at the 1.2358 levels. The panic will be triggered below 1.2320 with the targets at 1.2250 and 1.2226. In case if the prices close below 1.2226, the pair can extend its fall up to 1.2100. In case, the prices close above 1.2600, further 200 pips upswing will ignite (1.2770 or 1.2880). For the near term, 1.2600 is the key level on the bullish front and 1.2350 and 12320 are the key support levels on the support side. The focus shifts to tomorrow's German prelim CPI, Spanish Flash CPI, German unemployment data, and the OPEC meeting. Huge volatility existed in the system ahead of the major key economic events.

Trade:

Buying above 1.2510.

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Technical analysis of EUR/USD for November 26, 2014 Market Analysis Review

When the European market opens, some economic news will be released such as German Import Prices m/m and German 10-y Bond Auction. The US will release a number of important economic reports such as the Core Durable Goods Orders m/m, Unemployment Claims, Core PCE Price Index m/m, Durable Goods Orders m/m, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, New Home Sales, Pending Home Sales m/m, Crude Oil Inventories, and Natural Gas Storage. So, amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2542.

Strong Resistance:1.2534.

Original Resistance: 1.2522.

Inner Sell Area: 1.2510.

Target Inner Area: 1.2480.

Inner Buy Area: 1.2450.

Original Support: 1.2438.

Strong Support: 1.2426.

Breakout SELL Level: 1.2418.

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Technical analysis of USD/JPY for November 26, 2014 Market Analysis Review

Today, Japan will not release any economic data. But the US will publish many important economic reports such as Core Durable Goods Orders m/m, Unemployment Claims, Core PCE Price Index m/m, Durable Goods Orders m/m, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, New Home Sales, Pending Home Sales m/m, Crude Oil Inventories, and Natural Gas Storage. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 118.40.

Resistance. 2: 118.17.

Resistance. 1: 117.94.

Support. 1: 117.66.

Support. 2: 117.43.

Support. 3: 117.20.

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. The material has been provided by InstaForex Company - www.instaforex.com



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Daily analysis of USDX for November 26, 2014 Market Analysis Review

The USDX has made a pullback close to the resistance level of 88.63 on the daily chart again. It is therefore possible that this instrument falls to the support level of 87.35 in this week. The USDX could have a respite to fall to that level and try again routed to the level of 88.63 and consolidate above that area, because the USDX is forming a bullish pattern. The MACD indicator remains in the negative territory.

Dailychart's resistance levels: 88.63 / 90.40

Dailychart's support levels: 87.35 / 86.20

In the H1 chart, the USDX fell abruptly to the location of the 200 SMA at the support level of 87.86. The USDX could conduct a rebound over this area and reach the resistance level of 88.15 again because this instrument still remains strong in the current bullish bias.

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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