Elliott wave analysis of EUR/NZD for November 19, 2015 Market Analysis Review

Wave summary:

A sideways consolidation between 1.61.24 and 1.6545 is becoming a never-ending and depressing story. We still continue to watch for a clear breakout above resistance at 1.6545, but they need to move soon in the face of the risk to turn lower for one final decline closer to 1.5882 to end the decline from 1.9114.

Trading recommendation:

We are long EUR from 1.6360 with stop placed at 1.6280. Buy EUR closer to 1.6300 or upon a breakout above 1.6545 and use the same stop at 1.6280.

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Elliott wave analysis of EUR/JPY for November 19, 2015 Market Analysis Review

Wave summary:

A failure to accelerate lower and a breakout above 131.73 taken place overnight did not meet our expectation of a decline in wave wave (iii). The decline from 141.06 in early June is clearly corrective as a nice symmetrical triangle was seen as wave b. Triangles will only be seen in wave 4 or as corrective B waves or X waves. This was a corrective decline, but how it should unfold and is still unclear. However, the failure to accelerate lower indicates that the corrective decline from 141.06 has come to an end and now we have to see how the rally from a low of 130.64 unfolds. A small five wave rally can indicate that the correction from 141.06 has ended.

Trading recommendation:

Our stop at 131.65 was hit for a small but nice profit. We will stand aside for now to observe the rally of the 130.64 low.

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Technical analysis of EUR/USD for November 19, 2015 Market Analysis Review

When the European market opens, economic news on the ECB Monetary Policy Meeting Accounts, Spanish 10-y Bond Auction, and Current Account is due to be released. The US will release publish data on the Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, 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: 1.0734.

Strong Resistance:1.0727.

Original Resistance: 1.0717.

Inner Sell Area: 1.0707.

Target Inner Area: 1.0682.

Inner Buy Area: 1.0657.

Original Support: 1.0647.

Strong Support: 1.0637.

Breakout sell level: 1.0630.

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 19, 2015 . Thanks for your support.

Technical analysis of USD/JPY for November 19, 2015 Market Analysis Review

In Asia, Japan will release data on results of the BOJ Press Conference, All Industries Activity m/m, Monetary Policy Statement, and Trade Balance. The US will unveil economic data om the Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, 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: 124.07.

Resistance. 2: 123.82.

Resistance. 1: 123.59.

Support. 1: 123.28.

Support. 2: 123.04.

Support. 3: 122.80.

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 19, 2015 . Thanks for your support.

Daily analysis of USDX for November 19, 2015 Market Analysis Review

The US dollar index continues to trade below the resistance zone of 99.80, with no major moves after the FOMC minutes. The 200 SMA is in the H1 chart. However, the USDX is still focused on reaching new highs above the level of 100.00. By the way, if the index continues to trade inside the bullish bias in coming days, then it could rally towards the level of 100.25.

H1 chart's resistance levels: 99.80 / 100.25

H1 chart's support levels: 99.25 / 98.31

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 99.80, take profit is at 100.25, and stop loss is at 99.37.

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Daily analysis of GBP/USD for November 19, 2015 Market Analysis Review

There is no major changes in the GBP/USD intraday chart after the FOMC minutes, which were released during Wednesday's session. The pair keeps moving inside a a range between the levels of 1.5296 and 1.5205, where the 200 SMA is located on the H1 chart. When the cable does a breakout below the level of 1.5205, then it could fall towards the zone of 1.5142. The MACD indicator keeps showing positive signs.

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

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GBP/USD intraday technical levels and trading recommendations for November 18, 2015 Market Analysis Review

Overview:

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

Hence, 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 September, due to the 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, which took place 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.

Note that bearish persistence below the level of 1.5200 is needed for a further bearish decline towards the levels of 1.5000 (prominent weekly support).

A valid sell entry can be offered around the current levels (1.5200-1.5230). This can be confirmed when daily closure below 1.5180 is expressed before the end of the day.

On the other hand, a bullish breakout above the level of 1.5250 exposes next resistance levels around 1.5350 and 1.5450.

Price actions should be watched around 1.4980 where the lower limit of the depicted movement channel comes to meet the GBP/USD pair. This is where a valid buy entry can be offered. S/L should be located below 1.4900.

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