Technical analysis of GBP/CHF for November 13, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair remains structurally unchanged until prices remain broadly below 1.5350. Bears should be poised to push prices lower towards the levels of 1.4800/50 as depicted here. Also note that there is a Fibonacci convergence coming around the level of 1.4800 as well. Watch out for prices to turn bullish again. For now, it is recommended to ride a potential counter trend drop and remain short with risk at 1.5350. Immediate resistance is seen at 1.5350 followed by 1.5400/10, while support is seen at the levels of 1.4900 and lower.

Trading recommendations:

Remain short with stop at 1.5380, a target is at 1.4800. Go long then.

Good luck!

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Elliott wave analysis of EUR/NZD for November 13, 2015 Market Analysis Review

Wave summary:

The resistance line at 1.9114 was broken, but important resistance at 1.6545 still stays intact, and only a clear breakout above here will confirm that the bottom of wave 2 was seen at 1.6124 and wave 3 higher is developing.

The risk continues to be observed, that the sideways consolidation calls for one final decline closer to 1.5882 before the decline from 1.9114 finally comes to the end.

Trading recommendation:

We are waiting for an opportunity to buy EUR 1.6365 or upon a break above 1.6545, with stop placed at 1.6280.

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Elliott wave analysis of EUR/JPY for November 13, 2015 Market Analysis Review

Wave summary:

Consolidation in a range between 131.46 and 133.15 continues unfolding. We still anticipated that a downside resolution eventually will be seen for a decline towards 124.58, but we have to be patient and let both bulls and bears do more or less equal fighting there.

A short-term breakout above minor resistance at 132.48 calls for a move closer to 133.45, while a breakout below 131.45 is needed for a continuation lower to 124.58.

Trading recommendation:

We are short EUR from 132.09 and will keep our stop at 133.25. If you are not short EUR yet, then sell near 132.70 or upon a break below 131.85 and use the same stop at 133.25

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Daily analysis of major pairs for November 13, 2015 Market Analysis Review

EUR/USD: The market simply ranged for the most part of this week with neither significant bullish movement, nor serious bearish movement. There was a slightly bullish movement on Thursday, but the outlook on the market remains bearish. Unless the market goes up by 150 pips, it would still be assumed that the market is bearish.

USD/CHF: Despite the fact that the USD/CHF pair simply ranged for the most part of this week, the bullish bias in the market remains valid. The EMA 11 is above the EMA 56, but Williams' % Range period 20 is in the oversold area. This could mean that the current consolidation in the market, though slightly bearish, might result in a rally.

GBP/USD: The GBP/USD pair seems determined in its bullish correction in the context of a downtrend. The price is close to the distribution territory at 1.5250, and in case it moves further upwards by 150 pips, the recent bearish outlook could be rendered ineffectual. It would still be assumed that the market is bearish.

USD/JPY: After testing the supply level of 123.50, the price has eased a bit. Nevertheless, it is possible that the price would continue going further upwards, especially as long as the demand level at 122.00 is not broken to the downside.

EUR/JPY: In the most part of this week (in the past 4 trading days) this currency trading instrument has moved only sideways. There is no potential that today would be an exemption because the market has shrugged off most fundamental figures this week. However, there might be a rise next week.

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Daily analysis of USDX for November 13, 2015 Market Analysis Review

The USDX is still doing pullbacks below the resistance level of 99.25, and now the 200 SMA came into focus in the H1 chart, where the index could find dynamic support to perform a rebound later. However, if that level gives up, we can expect another downside move towards the support zone of 98.03, which is below the 200 SMA. The MACD indicator is still at the negative territory.

H1 chart's resistance levels: 99.25 / 99.80

H1 chart's support levels: 98.31 / 98.03

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US dollar index breaks with a bullish candlestick; the resistance level is seen at 99.25, take profit is at 99.80, and stop loss is at 98.71.

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Daily analysis of GBP/USD for November 13, 2015 Market Analysis Review

On the daily chart, GBP/USD has been moving sideways below the 200 SMA, which is currently acting as dynamic resistance. Also, bear in mind the cable wants to test new highs around the level of 1.5296 because of a higher high pattern formation which is in progress. However, pullbacks are expected in coming days at least because the overall structure is still calling for downside.

H1 chart's resistance levels: 1.5296 / 1.5365

H1 chart's support levels: 1.5205 / 1.5142

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 seen at 1.5205, take profit is at 1.5142, and stop loss is at 1.5270.

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Technical analysis of EUR/USD for November 13, 2015 Market Analysis Review

When the European market opens, some economic news the Trade Balance, Flash GDP q/q, Italian Prelim GDP q/q, French Prelim Non-Farm Payrolls q/q, German Prelim GDP q/q, and French Prelim GDP q/q is due to be released. The US will unveil the economic data on the Natural Gas Storage, Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Core PPI m/m, Retail Sales m/m, Retail Sales m/m, PPI m/m, and Core Retail Sales m/m. So amid the reports, the EUR/USD pair will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0857.

Strong Resistance:1.0851.

Original Resistance: 1.0840.

Inner Sell Area: 1.0829.

Target Inner Area: 1.0804.

Inner Buy Area: 1.0779.

Original Support: 1.0768.

Strong Support: 1.0757.

Breakout SELL Level: 1.0751.

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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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for November 13, 2015 . Thanks for your support.