Elliott wave analysis of EUR/NZD for January 15 - 2015 Market Analysis Review

Technical summary:

The correction in blue wave iv entered the resistance area between 1.5330 - 1.5350 before turning lower again. We will now be looking for a break below support at 1.5175 to confirm that blue wave iv ended at 1.5331 and blue wave v lower to 1.4970 is developing. In the short term, we should ideally see minor resistance at 1.5228 protect the upside for a break below support at 1.5175 confirming the next decline towards 1.4970. Only an unexpected break above resistance at 1.5287 will delay the expected decline in blue wave v.

Trading recommendation:

We sold EUR at 1.5320 and will move stop lower to 1.5340. If you are not short EUR yet, then sell a break below 1.5175 with a stop at 1.5290.

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 Elliott wave analysis of EUR/NZD for January 15 - 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for January 15 - 2015 Market Analysis Review

Technical summary:

The correction in wave (ii) has been much deeper than first expected, but even though the pitchfork support line was pierced shortly, prices quickly went back into the pitchfork. It could be the first good indication, that wave (ii) is over at 137.00. We will be looking for a break above the resistance line at 138.90 as confirmation that a low is indeed in place and a new strong rally higher is evolving. It will take an unexpected break below 137.00 to invalidate the bullish count.

Trading recommendation:

Our stop at 137.85 was hit and we are now looking for a new EUR buying opportunity. We will buy EUR at 137.90 with a stop at 136.95

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 Elliott wave analysis of EUR/JPY for January 15 - 2015 . Thanks for your support.

Technical analysis of USD/JPY for January 15, 2015 Market Analysis Review

In Asia, Japan will release the PPI y/y and Core Machinery Orders m/m. Besides, the US will publish some economic data such as Natural Gas Storage, Philly Fed Manufacturing Index, Empire State Manufacturing Index, Core PPI m/m, Unemployment Claims, and PPI m/m. 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: 118.33.

Resistance. 2: 118.10.

Resistance. 1: 117.88.

Support. 1: 117.59.

Support. 2: 117.36.

Support. 3: 117.13.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/JPY for January 15, 2015 . Thanks for your support.

Technical analysis of EUR/USD for January 15, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as Trade Balance. The US will release the economic data too such as the Natural Gas Storage, Philly Fed Manufacturing Index, Empire State Manufacturing Index, Core PPI m/m, Unemployment Claims, and PPI m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1832.

Strong Resistance:1.1825.

Original Resistance: 1.1813.

Inner Sell Area: 1.1801.

Target Inner Area: 1.1774.

Inner Buy Area: 1.1746.

Original Support: 1.1734.

Strong Support: 1.1722.

Breakout SELL Level: 1.1715.

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



For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for January 15, 2015 . Thanks for your support.

Daily analysis of USDX for January 15, 2014 Market Analysis Review

At the daily chart, the USDX had no sudden movements and fulfilled an impending trend change. However, the USDX still remains alive in our bullish oulook. Therefore, our next target on the upside road remains at the resistance level of 93.44, which is a level that could be reached easily, due to few obstacles on the upside road.

Dailychart's resistance levels: 93.44 / 96.60

Dailychart's support levels: 91.62 / 90.40

The USDX is attempting a breakout at the level of 92.08 after conducting a rebound on the 200-day moving average on the H1 chart. If the USDX manages to consolidate above the level of 92.08, it would be expected to reach the level of 92.51 in the short term, although this instrument is kept moving in a low volume territory.

H1 chart's resistance levels: 92.08 / 92.51

H1 chart's support levels: 91.66 / 91.24

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 92.08, take profit is at 92.51, and stop loss is at 91.66.

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 Daily analysis of USDX for January 15, 2014 . Thanks for your support.

Daily analysis of GBP/USD for January 15, 2015 Market Analysis Review

The GBP/USD pair remains alive in the bearish trend on the daily chart, although this pair continues to make a bullish retracement. However, GBP/USD might find storng resistance at the level of 1.5266. If this pair makes a pullback at that level, the next target would be the support level of 1.5159. The MACD indicator is entering the neutral territory.

Dailychart's resistance levels: 1.5266 / 1.5407

Dailychart's support levels: 1.5159 / 1.5015

On the H1 chart, the GBP/USD pair is forming a bullish pattern above the 200-day moving average. Meanwhile, this pair is preparing to try to consolidate above the resistance level of 1.5249. However, as we had mentioned earlier, the GBP/USD pair could resume bearish bias and fall to the level of 1.5146. The MACD indicator is entering the overbought area.

H1 chart's resistance levels: 1.5249 / 1.5295

H1 chart's support levels: 1.5198 / 1.5146

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 1.5198, take profit is at 1.5146, and stop loss is at 1.5249.

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 Daily analysis of GBP/USD for January 15, 2015 . Thanks for your support.

Daily analysis of major pairs for January 15, 2015 Market Analysis Review

EUR/USD: Here, the outlook remains bearish – though the price is currently consolidating. The price may go below the support line at 1.1750; in case the expectation fails, a strong rally may begin from here.

USD/CHF: This currency trading instrument remains bullish. The price is above the EMA 11, which in turn is above the EMA 56. The RSI period 14 is above the level 50, meaning bulls still have the control in the market. With the Bullish Confirmation Pattern on the chart, the price may be able to settle above the resistance level at 1.0200.

GBP/USD: The Cable has been making visible efforts to go bullish since last week. After testing the accumulation territory at 1.5050, the price has gone upwards by roughly 200 pips. A break above the distribution territory 1.5300 would mean the beginning of a new bullish signal.

USD/JPY: The USD/JPY pair is bearish in outlook, in spite of the current short-term rally on it. This may be another opportunity to sell short at a better price. Moreover, some fundamental figures are expected today and they would have impact on the markets.

EUR/JPY: After testing the demand zone at 137.00, the EUR/JPY pair experienced an upward bounce, enabling it to go near the supply level at 138.50. The bearish bias is still very much intact, and the price could still move further south; unless it breaches the supply zone at 139.50 to the upside.

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 Daily analysis of major pairs for January 15, 2015 . Thanks for your support.