Technical analysis of EUR/JPY for November 4, 2015 Market Analysis Review

General overview for 04/11/2015 08:00 CET

The current wave development is very slow as it is typical for wave b progression. Nevertheless, the building bullish divergence between the price and momentum oscillator suggest that a rebound to the upside is unavoidable sooner or later. Please notice the wave b purple might go as low as the intraday support at the level of 131.58 before reversal.

Support/Resistnace:

131.58 - Intraday Support

131.75 - WS1

132.82 - Weekly Pivot

133.73 - Intraday Resistance

133.70 - 133.92 - Demand Breakthrough Zone

Trading recommendations:

Day traders should refrain from trading until a clearer trading setup occurs.

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Technical analysis of USD/CAD for November 4, 2015 Market Analysis Review

General overview for 04/11/2015 07:50 CET

The current corrective wave development looks incomplete. The price action inside the golden channel is clearly corrective in nature. Moreover, the corrective cycle needs one more push lower to complete the wave c green and therefore wave X brown.

Support/Resistance:

1.2954 - WS1

1.3038 - Intraday Support

1.3115 - Weekly Pivot

1.3165 - Intraday Resistnace

Trading recommendations:

Day traders should consider opening sell orders only if the intraday support at the level of 1.3038 is clearly violated. SL should be placed tight (15-20 pips) and TP should be placed at the level of 1.2954.

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Elliott wave analysis of EUR/NZD for November 4 - 2015 Market Analysis Review

Wave summary:

We continue to look for confirmation that wave 2 is over and wave 3 higher has taken over. The bottom could be well in place at 1.6124. Then we need a break above resistance at 1.6515 to indicate this is the case for a rally higher to 1.6950 and above higher, which will confirm the bottom for a rally much higher.

We have seen a new test of resistance at 1.6515 (the high has been 1.6508), but only a break above 1.6515 will indicate that we did indeed see a firm bottom at 1.6124.

Trading recommendation:

We will buy EUR at 1.5900 or upon a break above 1.6515 (one order done cancels the other).

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Elliott wave analysis of EUR/JPY for November 4 - 2015 Market Analysis Review

Wave summary:

Wave b of red wave 2 was rerouted, but as long as support at 132.15 protects the downside, I continue to look for a little more upside in red wave 2 towards 134.02 before red wave 3 takes over for a strong decline to 126.05 and likely even lower to 119.90. In the short term, a break above 133.05 confirms the next part of the corrective move higher to 134.02.

Trading recommendation:

We will sell EUR at 133.85 or upon a break below 132.16 (one order done cancels the other).

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Technical analysis of EUR/USD for November 04, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as PPI m/m, Final Services PMI, ECB President Draghi Speech, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI. The US will release the economic data too such as the Crude Oil Inventories, ISM Non-Manufacturing PMI, Fed Chair Yellen Testimony, Final Services PMI, Trade Balance, and ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1010.

Strong Resistance:1.1004.

Original Resistance: 1.0993.

Inner Sell Area: 1.0982.

Target Inner Area: 1.0957.

Inner Buy Area: 1.0932.

Original Support: 1.0921.

Strong Support: 1.0910.

Breakout SELL Level: 1.0904.

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 November 04, 2015 . Thanks for your support.

Technical analysis of USD/JPY for November 04, 2015 Market Analysis Review

In Asia, Japan will release the Consumer Confidence report and Monetary Base y/y. The US will also publish some economic data such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Fed Chair Yellen Testimony, Final Services PMI, Trade Balance, and ADP Non-Farm Employment Change. So there is a big probability the USD/JPY pair will move with low to medium volatility during the Asian session, but with medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.95.

Resistance. 2: 121.72.

Resistance. 1: 121.48.

Support. 1: 121.18.

Support. 2: 120.95.

Support. 3: 120.70.

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 November 04, 2015 . Thanks for your support.

Daily analysis of USDX for November 04, 2015 Market Analysis Review

USDX is forming a higher high pattern above the support level of 97.16 in an effort to reach new highs this week. 200 SMA is favoring this scenario, because it's slightly bullish. Besides, bear in mind the current structure is configured to visit the highs from the October 28th session, as the Index found dynamic support over that moving average. MACD indicator is entering the negative territory as H1 chart shows.

H1 chart's resistance levels: 97.16 / 97.51

H1 chart's support levels: 96.71 / 96.40

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 97.16, take profit is at 97.51, and stop loss is at 96.81.

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