Technical analysis of EUR/USD for October 22, 2015 Market Analysis Review

When the European market opens, some economic news on the Consumer Confidence, Minimum Bid Rate, and Spanish Unemployment Rate.The US will release data on the Natural Gas Storage, CB Leading Index m/m, Existing Home Sales, HPI m/m, and Unemployment Claims. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1402.

Strong Resistance:1.1395.

Original Resistance: 1.1384.

Inner Sell Area: 1.1373.

Target Inner Area: 1.1346.

Inner Buy Area: 1.1319.

Original Support: 1.1308.

Strong Support: 1.1297.

Breakout SELL Level: 1.1290.

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.

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Technical analysis of USD/JPY for October 22, 2015 Market Analysis Review

In Asia, Japan will release data on All Industries Activity m/m and Trade Balance. The US will release some economic data about Natural Gas Storage, CB Leading Index m/m, Existing Home Sales, HPI m/m, and Unemployment Claims. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.49.

Resistance. 2: 120.26.

Resistance. 1: 120.03.

Support. 1: 119.74.

Support. 2: 119.51.

Support. 3: 119.26.

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 October 22, 2015 . Thanks for your support.

Daily analysis of major pairs for October 22, 2015 Market Analysis Review

EUR/USD: The EUR/USD pair has only moved sideways from Monday till now and it is better to wait until there would be a break out of the current equilibrium phase. The price would either go above the resistance line at 1.1400 or below the support line of 1.1300. The current bias is bullish, so a breakout to the upside is more likely. Some fundamental figures would be released today and they might have a significant impact on the market.

USD/CHF: the USD/CHF has been consolidating to the upside this week though the bias remains bearish. The price is now close to the resistance level of 0.9600, but there cannot be any threat to the existing bearish bias as long as the price is below the resistance level of 0.9700. Right now, the Williams' % Range period 20 is in the overbought region, but the EMA 11 is yet to cross the EMA 56 to the upside.

GBP/USD: There is still a Bullish Confirmation Pattern in the GBP/USD chart, albeit the price has been corrected a bit downwards. When a breakout does occur, it is more likely that it would be to the upside, since the outlook for the GBP/USD pair is bullish (which might hold true for the rest of the month).

USD/JPY: Since October 15, 2015, the USD/JPY pair has been making some bullish effort. The price has moved upwards by close to 200 pips since then, testing the supply level of 120.00 now. The supply level could be easily breached today or tomorrow. If another supply level of 121.00 is eventually breached, that would harbinger a strong trending movement.

EUR/JPY: An outlook for this pair is still bullish in spite of the fact that the price looks a bit like consolidating. The bullish outlook would hold as long as the demand zone of 135.00 is not breached to the downside. Until that happens, any bearish corrections here would be taken as opportunities to go long.

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Daily analysis of USDX for October 22, 2015 Market Analysis Review

The USDX is getting outside the sideways range established around the 200 SMA zone in the H1 chart, but the index could perform a rally towards the resistance level of 95.30. If the USDX succeeds in breaking this level to the upside, it is expected to test the zone around 95.60, which confirm that the short-term bullish trend has started already. The MACD indicator remains at the positive territory.

H1 chart's resistance levels: 95.30 / 95.60

H1 chart's support levels: 94.98 / 94.61

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US dollar index breaks with a bearish candlestick; the support level is at 94.98, take profit is at 94.61, and stop loss is at 95.36.

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Daily analysis of GBP/USD for October 22, 2015 Market Analysis Review

A current intraday trand is calling for a correction in favor of bearish force. So the pair could make a rebound above the 200 SMA in the H1 chart, with a possible target towards the resistance level of 1.5458, which is a level that has been tested several times. However, this scenario could change when the cable performs a consolidation below the support level of 1.5374 with a lower low pattern formation. The MACD indicator is entering the negative territory.

H1 chart's resistance levels: 1.5458 / 1.5506

H1 chart's support levels: 1.5411 / 1.5374

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 seen at 1.5458, take profit is at 1.5506, and stop loss is at 1.5411.

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Technical analysis of USD/JPY for October 21, 2015 Market Analysis Review

USD/JPY is expected to trade with bullish bias. Overnight, US stocks dipped amid a sell-off in healthcare shares and International Business Machines' downbeat earnings report. The Dow Jones Industrial Average edging down 0.1% to 17,217, the S&P 500 was also down 0.1% to 2,030, while the Nasdaq Composite declined 0.5% to 4,880. Nymex crude oil fell 0.7% to $45.55 per barrel and gold was up 0.5% to $1,176 per ounce. The benchmark 10-year Treasury yield grew to 2.067% from 2.028% in the previous session. Meanwhile, the US dollar was broadly firm against most other major currencies. NZD/USD plunged to as low as 0.6732 after reaching the day-high at 0.6846. On the other hand, USD/CAD dropped to as low as 1.2930 from the day-high of 1.3049 after Justin Trudeau's Liberal Party secured a majority government in the latest national elections. The pair keeps trading on the upside after breaking above a triangle pattern. The 20-period intraday moving average (MA) remains above the 50-period one, while the intraday relative strength index (RSI) stands above the neutrality level of 50. The upside prevails and the pair is expected to proceed towards the first upside target at 120.15 (last seen on October 12).

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 120.15 and the second target at 120.35. In the alternative scenario, short positions are recommended with the first target at 119.20 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 118.90. The pivot point is at 119.55.

Resistance levels:120.15 120.35 120.75

Support levels: 119.20 118.90 118.60

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Technical analysis of USD/CHF for October 21, 2015 Market Analysis Review

USD/CHF is expected to trade in a higher range. The pair has broken above the 20- and 50-period intraday MAs, which are providing support. The intraday RSI is above its neutrality level at 50 and lacks downward momentum. As long as 0.9525 holds as the key support, look for a further advance to 0.9615. A break above this level would call for a further upside towards 0.9645.

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 0.9615 and the second target at 0.9645. In the alternative scenario, short positions are recommended with the first target at 0.95 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 0.9475. The pivot point is at 0.9525.

Resistance levels: 0.9615 0.9645 0.9695

Support levels: 0.95 0.9475 0.9450

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