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Monday, 20 July 2015

Daily analysis of USDX for July 21, 2015 Market Analysis Review

On the daily chart, The USDX is reaching new monthly highs above the key support level of 97.57 and it is expected to test the level of 99.15, when a breakout takes place above 98.29. However, we could expect a pullback when the Index achieves that territory, because it is overbought in lower time frames.

The USDX is trading sideways below the resistance level of 98.22, which is a very important zone in the current bullish intraday structure. If USDX breaks that level, it would be expected to test the next high around 99.02. The 200 SMA is slightly bullish, and the MACD indicator remains at positive territory on the H1 chart.

Daily chart's resistance levels: 98.29 / 99.15

Daily chart's support levels: 97.57 / 96.57

H1 chart's resistance levels: 98.22 / 99.02

H1 chart's support levels: 97.72 / 97.53

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is at 97.72, take profit is at 98.22, and stop loss is at 97.41.

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 July 21, 2015 . Thanks for your support.

Daily analysis of GBP/USD for July 21, 2015 Market Analysis Review

GBP/USD has been trading above the 200 SMA, looking for an opportunity to reach the resistance level of 1.5640, a zone which was tested during the last week. However, we should be aware of a breakout at the support level of 1.5543 that could change the focus to the downside (more specific at the level of 1.5450). The MACD indicator is at neutral territory.

On the H1 chart, the pair continues performing lower swings and now it is trading below the 200 SMA with a possible bearish pattern. If GBP/USD successfully achieves that pattern, it would be expected to test the support level of 1.5524. In the bullish side, a breakout above the level of 1.5596 will open doors to visit the price zone around 1.5639.

Daily chart's resistance levels: 1.5640 / 1.5755

Daily chart's support levels: 1.5543 / 1.5450

H1 chart's resistance levels: 1.5596 / 1.5639

H1 chart's support levels: 1.5524 / 1.5485

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5596, take profit is at 1.5639, and stop loss is at 1.5554.

Gold analysis for July 20, 2015 Market Analysis Review

Overview:

Gold has been trading downwards. The price tested the level of $1,085.15. According to the daily time frame, we can observe a strong bearish bar in an ultra-high volume (selling climax). According to the H1 time frame, we can observe supply in an ultra-high volume. Since the price has broken support at $1,132.00, we may expect potential testing of the level of $1,035.00 (monthly support). Watch for potential selling opportunities after retracement. Selling climax is active so selling at this stage looks risky because of possible bullish correction.The resistance level is around the price of $1,118.00.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,132.00

R2: 1,133.00

R3: 1,134.00

Support levels:

S1: 1,129.00

S2: 1,128.00

S3: 1,126.00

Trading recommendations: Supply in an ultra-high volume is observed on the market. Watch for a potential selling after retracement.

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 July 20, 2015 . Thanks for your support.

Technical analysis of Silver for July 20, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver is seen to be trading around the $14.80 levels at the moment after testing lows at the $14.50 levels earlier. The metal could bounce back from current levels if it manages to take out the $15.85/85 and $16.40 resistance levels subsequently. Please note that the metal could drop towards sub $13.00 levels as well before bouncing back at the long-term support trendline depicted on the monthly chart view here. It is therefore recommended to hold long positions for now with risk at the $14.25 levels. If prices drop lower, remain flat. Immediate support is seen at the $14.00 levels followed by $12.00/30, while resistance is seen at the $16.40 levels and higher respectively.

Trading recommendations:

Remain long until prices remain above the $14,25 levels.

Good luck!

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 Silver for July 20, 2015 . Thanks for your support.

Technical analysis of Gold for July 20, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is trading around $1,106.00 now after having reached fresh lows at $1,087.00 today. The metal looks to get finally on its way towards at least $1,030.00/30.00, which acted as resistance on the monthly chart. Please note that the above level was 2008 high/resistance, which would now act as support if prices manage to reach them. It is recommended to remain flat for now and look for an opportunity to sell on a rally through the levels of $1,130.00/40.00. Bears are expected to remain in control until prices stay below $1,230.00. Immediate support is seen at $1,050.00 while resistance is seen at $1,230.00 respectively.

Trading recommendations:

Remain flat for now, look to sell higher towards $1,130.00/40.00.

Good luck!

Technical analysis of EUR/JPY for July 20, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY is trading around the levels of 134.85/90 now after having dropped lower into 134.00 earlier. Please note that the pair has bounced off the fibonacci 0.786 support levels around 134.00 and also taken out the counter trendline as depicted on the 1H chart. The pair remains bullish until prices stay above the level of 133.00. It is therefore recommended to remain long and look for an opportunity to add further positions with risk at 133.00. Immediate support is seen at the levels of 133.00/30, followed by 131.50 and lower while resistance is seen at 135.25 (interim) followed by 136.25, 138.00, and higher respectively.

Trading recommendations:

Remain long for now, stop is at 133.00, a target is open.

Good luck!

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/JPY for July 20, 2015 . Thanks for your support.

EUR/NZD analysis for July 20, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD is moving downwards. As we had expected, the price tested the level of 1.6428 in a volume above the average. In the daily time frame, we can observe a weak downward bar in a volume below the average. There is also an inside-bar formation at the level of 16677 (held successful) and a low (support) at 1.6340. Watch for a potential breakout of inside-bar support or resistance. Besides, we have strong rejection from our demand trendline (support) around the level of 1.6390. Strong support is seen at the level of 1.6410. The short-term trend is neutral, but the mid-term trend is still bullish. I am still waiting for larger liquidity and stronger price actions to confirm the further direction.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6675

R2: 1.6700

R3: 1.6750

Support levels:

S1: 1.6575

S2: 1.6545

S3: 1.6495

Trading recommendations: Buying EUR/NZD at this stage looks risky since we have a fake breakout in the background.

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 July 20, 2015 . Thanks for your support.