Technical analysis of EUR/USD for October 29, 2015 Market Analysis Review

When the European market opens, some economic news on the Italian 10-y Bond Auction, German Unemployment Change, Spanish Flash CPI y/y, and German Prelim CPI m/m is due to be released. The US will unveil data on the Natural Gas Storage, Pending Home Sales m/m, Advance GDP Price Index q/q, Unemployment Claims, and Advance GDP q/q. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0977.

Strong Resistance:1.0971.

Original Resistance: 1.0960.

Inner Sell Area: 1.0949.

Target Inner Area: 1.0924.

Inner Buy Area: 1.10899.

Original Support: 1.0888.

Strong Support: 1.0877.

Breakout sell Level: 1.0871.

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 EUR/USD for October 29, 2015 . Thanks for your support.

Technical analysis of USD/JPY for October 29, 2015 Market Analysis Review

In Asia, Japan will release data on the Prelim Industrial Production m/m, and the US will publish economic news on the Natural Gas Storage, Pending Home Sales m/m, Advance GDP Price Index q/q, Unemployment Claims, and Advance GDP q/q. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.98.

Resistance. 2: 120.74.

Resistance. 1: 120.51.

Support. 1: 120.21.

Support. 2: 119.98.

Support. 3: 119.74.

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 29, 2015 . Thanks for your support.

Daily analysis of USDX for October 29, 2015 Market Analysis Review

On the H1 chart, the USDX is trading with a very strong bullish bias after the FOMC meeting on Wednesday. Currently, we expect a pullback towards the support zone of 97.51, which is a part of a higher high pattern in the H1 chart. If a corrective move continues to go deeper, a test around the support level of 97.16 should be expected. The MACD indicator is still at the positive territory.

H1 chart's resistance levels: 97.79 / 98.11

H1 chart's support levels: 97.51 / 97.16

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks with a bullish candlestick; the resistance level is seen at 97.79, take profit is at 98.11, and stop loss is at 97.48.

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 October 29, 2015 . Thanks for your support.

Daily analysis of GBP/USD for October 29, 2015 Market Analysis Review

After the FOMC meeting, GBP/USD traded into a bearish bias below the 200 SMA at H1 chart, doing a consolidation that seems to break the support zone around the level of 1.5262. If the pair achieves in performing a move below that territory, we could expect a bottom around the level of 1.5219, because the bearish momentum is still favored by the technical indicators. The MACD remains at the negative territory.

H1 chart's resistance levels: 1.5296 / 1.5339

H1 chart's support levels: 1.5262 / 1.5219

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is found at 1.5262, take profit is at 1.5219, and stop loss is at 1.5304.

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 GBP/USD for October 29, 2015 . Thanks for your support.

GBP/USD intraday technical levels and trading recommendations for October 28, 2015 Market Analysis Review

Overview:

Recently, strong bullish pressure was applied at the resistance level of 1.5800 via the recent bullish swing.

That is why, the resistance level of 1.5800 was temporarily breached. Bulls moved towards 1.5900 where the depicted Head and Shoulders reversal pattern was confirmed.

Later, the support level of 1.5555 got breached by the end of the previous month due to excessive bearish pressure, which originated at 1.5800.

The GBP/USD pair moved towards the support zone of 1.5170-1.5150 where a valid intraday buy entry was offered especially after the evident bullish rejection on October 6.

Conservative traders were advised to wait for a bullish pullback towards the level of 1.5480 for a low-risk sell entry.

This sell position was triggered last week. T/P levels to be located at 1.5330, then 1.5150. S/L should be lowered to 1.5410 to offset some of the associated risk.

Note that bearish persistence below the level of 1.5330 is needed for a further bearish decline towards the levels of 1.5100 and 1.5050. Otherwise, further bullish correction towards 1.5400 and 1.5450 should not be excluded.

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 GBP/USD intraday technical levels and trading recommendations for October 28, 2015 . Thanks for your support.

USD/CAD intraday technical levels and trading recommendations for October 28, 2015 Market Analysis Review

Overview:

A bullish breakout above the zone of 1.2770-1.2800 was observed on July 15 (highlighted in pale pink).

The long-term bullish target was projected towards the level of 1.3270 (100% Fibonacci Expansion). However, bulls moved further above the resistance level, which was bypassed on September 23.

A significant bearish rejection was observed around 1.3450 where 141.4% Fibonacci Expansion was roughly located.

Later on October 1, bearish persistence below 1.3270 (Fibonacci Expansion 100%) was expressed. This applied enough bearish pressure to expose the next support levels around 1.2910 and 1.2750 where long-term buy entries were suggested.

On Friday, daily closure above 1.3100 was achieved. This enhanced the bullish side of the market.

The price level of 1.3270 (Fibonacci Expansion 100%) got exposed shortly after the USD/CAD bulls managed to push above the price level of 1.3100.

Yesterday, a valid SELL entry was suggested around the price level of 1.3270 (FE100%). It is already running in profits now.

A bearish breakdown of the recent support level at 1.3075 is mandatory to allow further bearish decline initially towards 1.2940.

Trading recommendations:

Conservative traders should wait for bearish pullbacks towards the recent breakout zone (1.2800-1.2750) for a valid buy entry as the breakout level acts as a strong support.

S/L should be located below the level of 1.2700. T/P levels should be located at 1.2850 and 1.2900.

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 USD/CAD intraday technical levels and trading recommendations for October 28, 2015 . Thanks for your support.

Intraday technical levels and trading recommendations for GBP/USD for October 28, 2015 Market Analysis Review

Few months ago, the market was pushed above the weekly key zone around 1.5550 in an attempt to reach the area of 1.5900, which has been providing the GBP/USD pair with significant resistance.

The previous weekly candlestick closure above 1.5500 hindered a further bearish decline enhancing the bullish side of the market towards 1.5670 (previous weekly high) and 1.5780 (61.8% Fibonacci level).

However, recent weekly candlesticks came as bearish engulfing candles, closing below the level of 1.5450 (neckline of the Head and Shoulders pattern).

It supported the bearish side of the market in the long term. An approximate projection target should be located at the level of 1.5050 for a reversal pattern.

In the short term, the nearest demand level is seen around 1.5170 (intraday demand level and the origin of a previous bullish engulfing weekly candlestick) provided the pair with significant bullish rejection two weeks ago.

It is expected to be visited again if persistence below the level of 1.5350 (previous weekly bottom) is maintained on a weekly basis.

On the other hand, consolidation above 1.5350 hinders further bearish movement giving time for a bullish correction, which extended up to the levels of 1.5500 during last week's consolidation.

The previous bearish movement found its way towards the level of 1.5200 (prominent demand level), which prevented further bearish decline.

Instead of it, the evident bullish candlestick took place around 1.5200-1.5170 (resulting in bullish engulfing daily candlesticks) leading to the recent bullish pullback towards 1.5600 (the backside of the depicted uptrend). It applied significant bearish pressure to the GBP/USD pair.

The price zone of 1.5500-1.5550 remains a significant supply zone to offer valid sell entries. Yesterday, it offered one more valid sell entry, which is running in profits now.

A daily fixation below 1.5350 is currently needed to allow the current bearish movement to continue towards the levels of 1.5150 (previous prominent weekly bottoms) and 1.5000 (weekly demand level).

Trading Recommendation:

Traders were instructed to sell the GBP/USD pair in the zone around 1.5500-1.5530.

S/L should be lowered to 1.5360 to secure some profits. Remaining target levels are located at 1.5250 and 1.5160.

On the other hand, a low-risk buy entry can be offered around the weekly demand level of 1.5000 (if a bearish breakdown of both demand level of 1.5150 occurs soon). S/L should be placed below 1.4930.

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 Intraday technical levels and trading recommendations for GBP/USD for October 28, 2015 . Thanks for your support.