Technical analysis of USD/JPY for August 10, 2015 Market Analysis Review

USD/JPY is expected to trade with bullish bias. With the US dollar index traded at 97.712, the greenback has failed to hold its gains made immediately after the US government reported last Friday that non-farm sector added 215K jobs in July (vs +225K expected, +223K in June). Even though the robust number suggests that the Federal Reserve could raise interest rates this year, traders expect rate increases to be slow, and the US dollar's upside is limited. USD/JPY broke above its previous key support at 124.45 and remains upside. The 20-period intraday moving average is below the 50-period one, while the intraday RSI stays within the selling area between 50 and 30. So, even though a continuation of a technical rebound cannot be ruled out, its extent should be limited. The key resistance is set at 124.45 and the first upside target at 125.25 (around last Friday's low). The second downside target is set at further support at 125.60.

Technical comment:

The daily chart is positive-biased as stochastics is bullish, the MACD histogram bars are turned positive.

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 keeps above its pivot point, long positions are recommended with the first target at 125.25 and the second target at 125.60. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 124.30. A break of this target would push the pair further downwards, and one may expect the second target at 124.10. The pivot point is at 124.45.

Resistance levels: 125.25 125.60 126

Support levels: 124.30 124.10 123.70

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Technical analysis of NZD/CHF for August 10, 2015 Market Analysis Review

After a heavy downtrend, NZD/CHF rejected the 0.63 area multiple times where finally it found the support. The pair started to produce higher highs and higher lows, thus pointing to a potential strength.

The price broke above the 200 Moving Average, came back to re-test it and was rejected. Currently, strong support is formed near the 0.64 area that also was rejected last week and could be an excellent opportunity to go long.

Consider buying NZD/CHF this week while it is trading between the current level (0.6450) and S1 support (0.6407) targeting 161.8% Fibs area (R2 - 0.66) applied to the 29.07 high and the 31.07 low. The stop loss should be set below the physiological support 0.64 because only daily closure below it could bring the control back to bears.

Support: 0.6407

Resistance: 0.6480, 0.6600

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Technical analysis of USD/CHF for August 10, 2015 Market Analysis Review

USD/CHF is expected to trade with bullish bias. The pair remains firmly above its horizontal support at 0.9790, which has been tested for several times. The upside momentum is still strong, as the intraday RSI holds above its 50 level, and is turning up again. Last but not least, an intraday rising trendline also provides a strong support, and calls for a new rise to challenge 0.9940 (last Friday's top). In case of a breakout, look for further advance to 1.

Technical comment:

The daily chart is positive-biased as the MACD and stochastics are bullish.

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 keeps above its pivot point, long positions are recommended with the first target at 0.9940 and the second target at 1.0. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9750. A break of this target would push the pair further downwards, and one may expect the second target at 9715. The pivot point is at 0.9790.

Resistance levels: 0.9940 1.0 1.045

Support levels: 0.9750 0.9715 0.9665

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Technical analysis of NZD/USD for August 10, 2015 Market Analysis Review

NZD/USD is expected to trade with bearish bias. The pair established a new intraday bearish trend after the recent break above its 20-period MA. A strong resistance base has formed around 0.6640, which should prevent any downward attempts. Besides, the intraday 20- and 50-period MAs are turning down, and continue to push the prices lower. The intraday RSI stands above the neutrality level at 50. Hence, as long as 0.6640 is not broken, look for further downside to 0.6525 and then to 0.6490.

Technical comment: The daily chart is negative-biased as the MACD indicator is bearish.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.6525. A break of this target will move the pair further downwards to 0.6490. The pivot point stands at 0.6640. In case the price moves in the opposite direction and bounces back from the support level, then it will move above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.6675 and the second target at 0.6700.

Resistance levels: 0.6675 0.67 0.6745

Support levels: 0.6525 0.6490 0.6455

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Technical analysis of GBP/JPY for August 10, 2015 Market Analysis Review

GBP/JPY is expected to trade in a higher range. After a choppy trading session last Friday, the pair is currently taking a breath and moving sideways above its key support at 192.50. Both 20- and 50-period intraday MAs are providing support now. And the intraday RSI stays above 50. Further upside is therefore expected with the next horizontal resistance and overlap set at the high of August 7 at 193.75 at first. A break above this level would call for a further advance toward 194.25 as possible. Only a break below the horizontal support at 195.50 would open the way to further weakness toward the low of August 7 at 191.95 at first.

Technical comment:

Daily chart is positive-biased as the MACD and stochastics are bullish.

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 keeps above its pivot point, long positions are recommended with the first target at 193.75 and the second target at 194.25. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 191.95. A break of this target would push the pair further downwards, and one may expect the second target at 191.45. The pivot point is at 192.50.

Resistance levels: 193.75 194.25 195

Support levels: 191.95 191.45 190.75

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Gold analysis for August 20 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading sideways around the price of $1,095.00. According to the daily time frame, we can observe a weak small real body. I found a strong trading range between the prices of $1,077.00 (support) and $1,108.00. Selling gold around our support looks very risky and my advice is to watch for a potential breakout of the trading range to confirm further direction. According to the 4H time frame, we can observe reversal up-thrust bar in an ultra high volume. I have placed Fibonacci retracement from most recent upward leg in the M30 time frame. Fibonacci retracement 61.8% at the price of $1,090.00 is on the test. The short-term trend is bullish but the mid-term trend is bearish.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,093.00

R2: 1,094.00

R3: 1,095.00

Support levels:

S1: 1,091.65

S2: 1,090.00

S3: 1,089.00

Trading recommendations: Be careful when selling gold at this stage since the price is near our strong support. Watch for a breakout of our trading range to confirm further direction. Buyers are in control today in the short term.

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Technical analysis of EUR/USD for August 10-14, 2015 Market Analysis Review

The weekly technical analysis of EUR/USD pair:

Trading recommendations:

• The price of the EUR/USD pair is still trapped between the levels of 1.0978 and 1.0880. The level of 1.0936 represents the daily pivot point. It should be noted that the daily pivot point coincides with the ratio of 61.8% Fibonacci retracement levels. Thus, sell below the price of 1.0936 in the short term with the first target of 1.0876 in order to test the weekly support 1. If the trend can break the weekly support 1 at 1.0876, it might resume to 1.0847 (the double bottom). The stop loss should never exceed your maximum exposure amounts. Therefore, it will be quite profitable to set your stop loss at the level of 1.0993.

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