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Thursday, 28 May 2015

Technical analysis of USD/CHF for May 29, 2015 Market Analysis Review

Overview:

According to the previous events, the price of the USD/CHF pair has been trading between 0.9556 and 0.9374. The level of 0.9556 represents the weekly pivot point. It should be noted that the weekly pivot point is coinciding with a ratio of 61.8% Fibonacci retracement level. In consequence, sell below 0.9556 in the short term with the first target at 0.9374 in order to test support 1. If the trend is able to break the support 1 at 0.7374; then it might resume to 0.9287 with a view to form the double bottom. Hence, the market will indicate a bearish opportunity at the level of 0.9556 and continue towards the last bearish wave at 0.9287. However, the best location for placing your stop loss should be set at 0.9575 because the stop loss should never exceed your maximum exposure amounts.

Intraday technical levels:

Date: 29/05/2015

Pair: USD/CHF

R3: 0.9611
R2: 0.9577
R1: 0.9535
PP: 0.9501
S1: 0.9459
S2: 0.9425
S3: 0.9383

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CHF for May 29, 2015 . Thanks for your support.

Technical analysis of USD/JPY for May 28, 2015 Market Analysis Review

Fundamental overview:

USD/JPY is expected to consolidate with bullish bias after hitting almost an 8-year high of 124.09 on Wednesday. USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 97.29 versus 97.24 early Wednesday) on expectations that the Fed would increase interest rates later this year. USD/JPY is supported by the higher shorter-dated US Treasury yields (2-year at 0.648% versus 0.618% late Tuesday), demand from Japan's importers, and the Bank of Japan's ultra-loose monetary policy as well. The pair is also boosted by reduced safe-haven appeal of the yen and the yen-funded carry trades as global risk sentiment improved (VIX fear gauge eased 5.62% to 13.27; S&P 500 closed up 0.92% at 2,123.48 overnight) after Greek Prime Minister Tsipras said the country is close to an agreement with its international creditors over its rescue program. However, The Wall Street Journal reported that one European Union official is doubtful of Greece's ability to close a deal quickly. But USD/JPY gains are tempered by the Japanese exports.

Technical comment:

The daily chart is positive-biased as the MACD is bullish, stochastics stays elevated at overbought levels, 5 and 15-day moving averages are advancing.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 124.80 and the second target at 125.50. In the alternative scenario, short positions are recommended with the first target at 122.85 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 122.45. The pivot point is at 123.40.

Resistance levels: 124.80 125.50 126

Support levels: 122.85 122.45 121.70

Technical analysis of USD/CHF for May 28, 2015 Market Analysis Review

Fundamental overview:

USD/CHF is expected to consolidate in a lower range after hitting almost a monthly high of 0.9545 on Wednesday. It is undermined by the franc demand on cross trades versus major currencies. But USD/CHF losses are tempered by the positive dollar sentiment, the negative Swiss interest rates, and the threat of the Swiss National Bank to carry out CHF-selling intervention.

Technical comment:

The daily chart is mixed as the MACD is bullish, five-day moving average is above 15-day moving average and is advancing. Stochastics is turning bearish at overbought levels, bearish dark-cloud-cover candlestick pattern was completed on Wednesday.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.94. A break of that target will move the pair further downwards to 0.9650. The pivot point stands at 0.9545. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.96 and the second target at 0.9650.

Resistance levels: 0.96 0.9650 0.97

Support levels: 0.94 0.9335 0.93

Technical analysis of NZD/USD for May 28, 2015 Market Analysis Review

Fundamental overview:

NZD/USD is expected to trade in a higher range after hitting the 2.5-month low of 0.7208 on Wednesday. The kiwi sentiment is boosted after Fonterra said it will pay its 10,600 farmer shareholders NZ$5.25 per kilo of milk solids for the season starting June 1 versus downwardly revised NZ$4.40 (from prior forecast of NZ$4.50) for the season ending May 31. NZD/USD is also supported by the kiwi demand on the buoyant NZD/JPY cross amid reduced risk aversion and kiwi demand on the soft AUD/NZD cross and NZD-USD interest differential. But NZD/USD gains are tempered by the positive dollar sentiment, soft dairy prices, and speculation that the RBNZ would cut interest rate in the coming months.

Technical comment:

The daily chart is still negative-biased as the MACD is bearish, stochastics stays suppressed at oversold levels, 5 and 15-day moving averages are falling.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.7120. A break of that target will move the pair further downwards to 0.7090. The pivot point stands at 0.7225. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.7270 and the second target at 0.730.

Resistance levels: 0.7270 0.73 0.7350

Support levels: 0.7120 0.7090 0.7050

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 NZD/USD for May 28, 2015 . Thanks for your support.

Technical analysis of GBP/JPY for May 28, 2015 Market Analysis Review

Fundamental outlook:

GBP/JPY is expected to trade in a higher range. It is underpinned by the improved euro sentiment as Greece worries subside and reduced safe-haven appeal of the yen amid better investor risk appetite and demand from Japan's importers. But GBP/JPY gains are tempered by the Japanese exports.

Technical comment:

The daily chart is mixed as the MACD is bearish, but stochastics is turned bullish at oversold levels.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 190 and the second target at 190.60. In the alternative scenario, short positions are recommended with the first target at 188.60 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 187.80. The pivot point is at 189.20.

Resistance levels: 190.60 191.20 191.75

Support levels: 188.60 187.80 187

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 GBP/JPY for May 28, 2015 . Thanks for your support.

EUR/NZD : analysis for May 28, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5256 in an very high volume. The short-term trend is bullish. According to the daily time frame, we can observe demand in a volume below average but with strong price action. According to the H1 time frame, the price has broken the major resistance (1.5060) and the key supply trendline. Be careful when selling EUR/NZD since we may see bullish movements. Resistance levels are at 1.5285 and 1.5400. Anyway, watch for potential buying opportunities after bearish correction (buy on the dips).

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5090

R2: 1.5120

R3: 1.5200

Support levels:

S1: 1.4980

S2: 1.4950

S3: 1.4890

Trading recommendations: Be careful when selling EUR/NZD at this stage since we can observe strong bullish activity (volume) in the background and broken supply trendline.

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 EUR/NZD : analysis for May 28, 2015 . Thanks for your support.

Gold : analysis for May 28, 2015 Market Analysis Review

Overview:

Gold has been trading sideways around the level of $1,186.00. The short-term trend is neutral. I found strong trading range between the levels of $1,192.00 and $1,183.00. I am waiting for a clear breakout with strong volume to confirm further direction. Our Fibonacci retracement 50 % at the level of $1,187.00 is on the test. If the price breaks the level of $1,183.00, support levels will be set at $1,178.00 and $1,167.00.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,190.00

R2: 1,192.00

R3: 1,195.40

Support levels:

S1: 1,184.50

S2: 1,183.00

S3: 1,179.90

Trading recommendations: Price is in trading range (sideways). Wait for a clear breakout in a high volume to confirm further direction.

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 Gold : analysis for May 28, 2015 . Thanks for your support.