EUR/NZD analysis for February 27, 2015 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading downwards. The price has tested the level of 1.4826 in an average volume. The resistance level at the price of 1.5200 was held successfully and it caused the price to start with downward movement. Our Fibonacci expansion 100% at the price of 1.4865 is on the test so be careful when selling EUR/NZD. Anyway, the major long-term support is around the price of 1.4785. According to the H1 timeframe, we can observe weak supply around the price of 1.4828. My advice is to watch for potential bullish opportunities with better conditions. Any larger reaction from our support levels may confirm a further phase.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5003

R2: 1.5056

R3: 1.5142

Support levels:

S1: 1.4831

S2: 1.4778

S3: 1.4692

Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after retracement (buy on the dips).

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Gold : analysis for February 27, 2015 Market Analysis Review

Overview :

Since our last analysis, gold has been trading sideways around the price of $1,210.00. We can observe demand in a high volume on the market. According to a 30-minute time frame, we got a selling climax and an absorption volume in the background, which is a sign that selling gold at this stage looks risky. My advice is to watch for potential buying opportunities. We have a resistance level around the price of $1,235.00 (Fibonacci retracement 38.2%). According to a daily time frame, we got demand in a volume above average.

Daily Fibonacci pivot points:

Resistance levels :

R1: 1,218.86

R2: 1,227.63

R3: 1,235.36

Support levels :

S1: 1,202.36

S2: 1,194.63

S3: 1,185.86

Trading recommendations: Watch for potential buying opportunities after a retracement (buy on the dips).

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EUR/AUD intraday technical levels and trading recommendations for February 27, 2015 Market Analysis Review

By the end of 2014, the EUR/AUD pair declined rapidly off 1.5330 reaching down to 1.3970 where bullish recovery was manifested.

Recently the EUR/AUD pair has been trending upwards within the depicted bullish channel until the price level of 1.4800 was reached few weeks ago.

The price level of 1.4800 corresponds to the 61.8% Fibonacci level of the recent bearish swing. Around it a DOUBLE-TOP bearish reversal pattern was expressed.

Confirmation of the reversal pattern required DAILY fixation below the price level of 1.4500, which corresponds to the most recent bottom. This has already occurred on Wednesday.

If the current daily closure persists below 1.4500, initial projection target would be located around 1.4300 and then 1.4270 where the lower limit of the newly-established H4 channel is located.

Note the bullish spike of the yesterday's daily candlestick. It represents the failure of bulls to gather enough momentum to push above 1.4500 enhancing the bearish side of the market.

Trading recommendations:

DAILY closure below 1.4500 indicated a low-risk SELL entry. TP levels would be located around 1.4300 and 1.4270. SL should be set as daily closure again above 1.4500.

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Intraday technical levels and trading recommendations for EUR/USD for February 27, 2015 Market Analysis Review

The market has been pushing lower aggressively after breaking below the major DEMAND LEVELS around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010.

The EUR/USD pair has lost almost 800 pips since the beginning of 2015. Moreover, theoretical long-term bearish targets would be located near 0.9450, especially after the FULL bearish MONTHLY below 1.2000 (January's monthly candlestick).

Bearish breakout below 1.2000 and 1.1900 (prominent psychological SUPPORT) allowed a quick bearish decline towards 1.1100 to take place few days later.

Conservative traders were suggested to wait for a bullish pullback looking for better prices to SELL the EUR/USD pair off (R1 at 1.1550 and R2 at 1.1700). However, the EUR/USD bulls did not show enough bullish momentum to reach these levels.

Instead, a bearish Flag pattern was established on the daily chart. DAILY fixation below the price level of 1.1260 (recent bottom) confirmed this bearish pattern.

Risky traders could benefit from DAILY breakdown of 1.1260 (recent DEMAND level). This probably indicates a quick bearish visit towards the WEEKLY low around 1.1110.

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Intraday technical levels and trading recommendations for GBP/USD for February 27, 2015 Market Analysis Review

Bearish breakout below 1.5550 directly exposed lower targets. Bears have already pushed towards the price levels of 1.5050 and 1.4960, which have not been visited since July 2013.

Around the price levels of 1.5050 and 1.4960 the market has established another consolidation zone, which extended up to the price levels of 1.5280.

Two weeks ago, the ongoing bearish trend was terminated when bullish breakout above 1.5200 took place, as depicted on the chart. Since then, the GBP/USD pair has been trending upwards within the depicted bullish channel.

Estimated projection targets are located around 1.5600-1.5640 where the previous consolidation zone was located. However, earlier, around 1.5550 bears have applied significant bearish pressure resulting in the formation of a bearish engulfing daily candlestick without further retesting of 1.5600.

By the end of the last week, the GBP/USD pair has consolidated above the price zone of 1.5360 (61.8% Fibonacci level), which failed to provide enough RESISTANCE over the last bullish swing.

For the current bullish breakout to persist, bulls should keep defending the price zone of 1.5300-1.5330 that is being approached today.

Estimated projection targets for the recent bullish breakout are roughly located around 1.5600-1.5640, which have not been tested yet.

On the other hand, the price action should be watched around the price zone of 1.5350-1.5300 to determine the next destination of the GBP/USD pair.

Bearish breakdown of 1.5300 should not be excluded, especially after the obvious bearish engulfing candlestick of yesterday.

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Technical analysis of USD/JPY for February 27, 2015 Market Analysis Review

Fundamental Outlook:
USD/JPY is expected to trade in a higher range. The US second estimate GDP for 4Q that is to be released on Friday at 13:30 GMT will be in the spotlight (forecast +2.0%). USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 95.28 versus 94.19 early Thursday), higher U.S. Treasury yields (10-year at 2.038% versus 1.969% late Wednesday), thanks to 2.8% increase in US January durable goods orders (versus forecast +0.6%) and a rise in U.S. January core CPI by 0.2% on-month (versus forecast +0.1%) that raised odds that the Federal Reserve interest rates hike could come as early as June.

USD/JPY is also supported by demand from Japan's importers, the ultra-loose Bank of Japan's monetary policy and news that Japan's Federation of National Public Service Personnel Mutual Aid Associations would increase its exposure of domestic stocks to 25% from 8%. But the USD sentiment is dented by more-than-expected number of 313,000 U.S. jobless claims in week ended Feb. 21 (versus forecast 290,000). The USD/JPY gains are also tempered by the Japanese exports, selling of the yen crosses amid diminished investor risk appetite (VIX fear gauge rose 0.51% to 13.91, S&P 500 closed 0.15% lower at 2,110.74 overnight) on renewed sell-off in oil prices and by positions adjustment ahead of the weekend.

Technical comment:
The daily chart is mixed as stochastics is bearish, but the MACD is in bullish mode, five-day moving average is meandering sideways.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 119.65 and the second target at 119.95. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 118.50. A break of this target would push the pair further downwards, and one may expect the second target at 118.25. The pivot point is at 119.

Resistance levels:

119.65

119.95

120.35

Support levels:

118.50

118.25

117.95

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Intraday technical levels and trading recommendations for NZD/USD for February 27, 2015 Market Analysis Review

Few months ago, the NZD/USD pair established a consolidation zone that extended between the price levels of 1.7620 and 1.7870.

On January 20, bears managed to execute a successful breakout below the major DEMAND level at 1.7620. Shortly after, the bears managed to reach a new low around 0.7200 where significant bullish recovery was executed.

Recently, the NZD/USD pair managed to break above 0.7430 (key level). This price level has been providing significant SUPPORT for the pair so far.

Hence, bullish pressure is expected to be applied over the nearest SUPPLY level to meet the NZD/USD pair around 0.7630.

The H4 chart showed an inverted Head and Shoulders pattern that originated off the price level of 0.7200 (the most recent low).

Bullish fixation above the neck-line (the price level of 0.7450) confirmed the reversal pattern.

Estimated bullish projection target for the reversal pattern is located around the price level of 0.7676.

On the other hand, the price level of 0.7630 corresponds to the 61.8% Fibonacci Level as well as the lower limit of the broken consolidation zone depicted on the chart.

Hence, the price zone of 0.7630-0.7670 should be watched for the price action as low-risk SELL entries can be taken at retesting. Stop Loss should be placed above 0.7700.

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