Technical analysis of USD/CAD for November 5, 2015 Market Analysis Review

General overview for 05/11/2015 08:10 CET

An alternative count has been added to the chart and it shows a little different corrective cycle development. The wave b green in this cycle might be completed at the recent local high at the level of 1.3196, so there is still a potential for a further decline towards the weekly pivot level. The weekly pivot l is the key level for the day: any breakout below it would mean a further decline is more possible than a bullish reversal.

Support/Resistnace:

1.3191 - Intraday Resistnace

1.3111 - Weekly Pivot

1.3038 - Intraday Support

1.2954 - WS1

Trading recommendations:

Day traders should consider opening buy orders at the level of 1.3111 with tight SL (10-15 pips) and TP at the level of 1.3191.

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for November 5, 2015 . Thanks for your support.

Technical analysis of Silver for November 05 2015 Market Analysis Review

Technical outlook and chart setups:

Silver has converged towards $15.00/10 levels as expected and discussed earlier as seen on the daily chart setups depicted here. Please note that the metal is trading at a strong fibonacci convergence around current levels, and a bullish reversal here, would be extremely encouraging. On the flip side, a drop below the trend line support towards $14.40 levels would delay matters. It is recommended to remain long for now with risk just below $14.40 levels. Immediate support is seen at $14.40 levels and lower, while resistance is seen at $16.30/50 levels and higher respectively. Bullish setup is favored till prices are above $14.40 levels.

Trading recommendations:

Remain long for now, stop at $14.40, a target is open.

Good luck!

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of Silver for November 05 2015 . Thanks for your support.

Technical analysis of Gold for November 05 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is still seen to be testing the trend line support that extends through the July and October 2015 lows as depicted here on the daily chart setups. In the event of a break below $1,100.00 levels, the July lows at $1,080.00 levels shall be exposed. On the flip side, a bullish reversal here and prices pushing back above the $1,120.00 levels should be extremely encouraging to bulls. It is recommended to remain long for now, with risk around $1,100.00 levels. Immediate support is seen through the $1,100.00 levels, followed by $1,080 and lower, while resistance is seen through $1,140.00 levels, followed by $1,180.00 and higher respectively. Please note, if $1,100.00 holds, bulls are poised to extend rally through $1,250.00 levels in the coming weeks.

Trading recommendations:

Remain long for now, stop below $1,100.00 levels, 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 Gold for November 05 2015 . Thanks for your support.

Technical analysis of EUR/JPY for November 05, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY remains just shy and is bouncing ahead of 131.40/50 levels, the October 29, 2015 lows as seen here. The pair has formed a doji candlestick pattern, a few hours back and is seen to be trading around 132.07 levels for the moment. Please note that bulls could stage an impressive rally from current levels, towards 134.50 levels easily, if 131.40 remains intact. It is hence recommended to remain long for now, with risk at 131.40 or lower. Immediate support is seen through 131.40 levels (interim), followed by 130.00 and lower, while resistance is seen through 133.50/70 levels, followed by 134.00 and higher respectively.

Trading recommendations:

Remain long for now, stop at 131.20/30, a target is open for now.

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 November 05, 2015 . Thanks for your support.

Technical analysis of GBP/CHF for November 05, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has remained unchanged from yesterday and is trading around 1.5280 levels. Please note that the pair could still push through 1.5350 levels, before producing any meaningful retracement lower. It reached 1.5320 (yesterday's high), which is expected to push the pair lower towards 1.4850/1.4950 levels. It is hence recommended to remain short since yesterday and also look to add further around 1.5350 levels if prices manage to reach there. Immediate support is seen at 1.5150 levels, followed by 1.5000 and lower, while resistance is seen through 1.5320 levels (interim), followed by 1.5350, 1.5400/10 and higher respectively.

Trading recommendations:

Remain short for now, stop at 1.5450, a target 1.4900/1.4850.

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 GBP/CHF for November 05, 2015 . Thanks for your support.

Elliott wave analysis of EUR/NZD for November 5 - 2015 Market Analysis Review

Wave summary:

We have seen a move slightly above 1.6515, but as no real follow-through has been seen, then break is not confirmed yet. That said, we do think that a more substantial break soon will be seen, but then the resistance line from 1.9114 is staying just above 1.6550. However, if this hurdle is broken too, then the bottom at 1.6124 is confirmed for a new rally towards 1.8020 and above.

Short-term support is now found at 1.6352.

Trading recommendation:

We have bought EUR at 1.6520 and have placed our stop at 1.6345. If you are not long EUR yet, then wait for a break above 1.6550 to buy and use the same stop at 1.6345.

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 Elliott wave analysis of EUR/NZD for November 5 - 2015 . Thanks for your support.

Elliott wave analysis of EUR/JPY for November 5 - 2015 Market Analysis Review

Wave summary:

With a break below support at 132.16, the odds favor red wave 2 having ended early at 133.39 and a new impulsive decline in red wave 3 lower to 128.07 as the next downside target. That said, we would like to see a break below support at 131.58 as well to confirm the downside pressure in red wave 3.

Short-term resistance is now seen at 132.20 and again at 132.47.

Trading recommendation:

We sold EUR at 132.15 and will place our stop at 132.65. If you are not short EUR yet, then sell near 132.20 and use the same stop at 132.65.

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 Elliott wave analysis of EUR/JPY for November 5 - 2015 . Thanks for your support.