Technical analysis of EUR/JPY for November 30, 2015 Market Analysis Review

General overview for 30/11/2015 07:40 CET

An Ending Diagonal pattern is almost completed and an uptrend should resume as soon as the wave (c) blue is terminated. Any breakout above the intraday resistance at the level of 130.78 is first indication of a medium-term bullish reversal in progress.

Support/Resistance:

129.33 - WS1

129.64 - Intraday Support

130.18 - Weekly Pivot

130.47 - Intraday Resistance

130.71 - WR1

130.78 - Intraday Resistance

131.57 - WR2

132.06 - WR3

Trading recommendations:

Day traders should consider placing buy orders from current market levels with SL below the level of 129.64 and TP at the level of 130.18 and then at 130.78.

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Technical analysis of USD/CAD for November 30, 2015 Market Analysis Review

General overview for 30/11/2015 07:20 CET

Upward wave development does not look completed yet as there are some internal sub-waves missed. A target is still seen at the level of 1.3433, but the wave progression might extend beyond that level. The first hurdle for bulls will be the golden trend-line dynamic resistance and any breakout above will be first indication that bulls are taking control over market.

Support/Resistance:

1.3447 - WR1

1.3433 - Intraday Resistance

1.3362 - Weekly Pivot

1.3338 - Intraday Support

1.3290 - WS1

Trading recommendations:

Day traders should consider playcing buy orders from current market levels with SL below the level of 1.3338 and TP at the level of 1.3433.

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Technical analysis of USD/JPY for November 30, 2015 Market Analysis Review

USD/JPY is expected to trade with a bullish bias. The US stock indices were mixed at Friday's shortened session. The Dow Jones Industrial Average edged down by 0.1% to 17798, the S&P 500 added 0.1% to 2090, while the Nasdaq Composite rose by 0.2% to 5127. Nymex crude oil lost 3.1% to $41.71 a barrel, gold dropped by 1.3% to $1,057 a troy ounce, and the benchmark 10-year Treasury yield declined to 2.213% from 2.232% during the previous session.

The U.S. dollar kept advancing as investors continued to bet the Federal Reserve would raise interest rates next month. The Wall Street Journal Dollar Index gained 0.3% to 90.81. EUR/USD fell 0.2% to 1.0587, GBP/USD dropped 0.4% to 1.5033, while USD/CHF ran up to 1.0330 before settling 0.6% higher at 1.0298, and USD/CAD also gained 0.6% to 1.3371. The pair posted a rebound after touching as low as 122.27 Friday. It is trading around the 20-period intraday (30-minute chart) moving average, which stands above the 50-period one. Meanwhile the relative strength index stays above the neutrality level at 50, lacking downward momentum. The intraday outlook continues to be bullish, and the first upside target is set at 122.95 (around the high of Nov. 25) and the second one at 123.05. decline toward 122.25 (around Friday's low).

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 122.95 and the second target at 123.05. In the alternative scenario, short positions are recommended with the first target at 122.25 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 122.00. The pivot point is at 122.50.

Resistance levels: 122.95 123.05 123.50

Support levels: 122.25 122 121.80

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Technical analysis of USD/CHF for November 30, 2015 Market Analysis Review

USD/CHF is expected to trade in a higher range. The pair posted a strong rebound on its last trading day and now seems to be forming an intraday bullish flag pattern. The relative strength index is above its neutrality area of 50 favoring a new rebound. The 20-period and 50-period moving averages are heading upward. Hence, as long as 1.026 (a strong support base) holds on the downside, a further rise is more likely to occur towards 1.0330 and 1.0370.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 1.0330 and the second target at 1.0370. In the alternative scenario, short positions are recommended with the first target at 1.0220 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 1.0195. The pivot point is at 1.0260.

Resistance levels: 1.0330 1.0370 1.0410

Support levels: 1..0220 1.0195 1.0170

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Technical analysis of NZD/USD for November 30, 2015 Market Analysis Review

NZD/USD is expected to trade on a bullish bias. The pair is reversing up after breaking above its previous key resistance at 0.6575, which should now play the key support role. A triple bottom pattern has been validated calling for an intraday trend reversal. Both ascending 20- and 50-period intraday moving averages maintain a bullish bias. Meanwhile, the relative strength index is positively oriented. Further upside is therefore expected with the next horizontal resistance and overlap set at 0.6575 at first. A breakout above this level would call for a further advance toward 0.6605.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.6575 and the second target at 0.6605. In the alternative scenario, short positions are recommended with the first target at 0.6490 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6460. The pivot point is at 0.6535.

Resistance levels: 0.6575 0.6605 0.6640

Support levels: 0.6490 0.6460 0.6430

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Technical analysis of GBP/JPY for November 30, 2015 Market Analysis Review

GBP/JPY is expected to trade in a lower range as the pair is under pressure now. The pair stays below its key resistance at 184.95 and remains under pressure. Meanwhile, the intraday relative strength index lacks upward momentum. The first target to the downside is therefore set at the horizontal support and overlap at 184.15. A breakout below this level would open the way to further weakness toward 183.85.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 184.15. A break of that target will move the pair further downwards to 183.85. The pivot point stands at 184.90. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 185.50 and the second target at 186.

Resistance levels: 185.50 186 186.55

Support levels: 184.15 183.85 183

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Elliott wave analysis of EUR/NZD for November 30, 2015 Market Analysis Review

Wave summary:

We can say a lot about this cross. A downtrend from 1.9114 persists with an ideal target seen at 1.5898 before recovery through minor resistance at 1.6377 indicating the bottom is in place and a new impulsive rally towards 1.8020 and above has begun.

A breakout above 1.6460 will confirm the bottom and the rally to 1.8020, but for now the downtrend still dominates the picture and still calls for a test of 1.5898.

Trading recommendation:

We are still looking for a EUR buying opportunity at 1.5925 or upon a breakout above 1.6377 (one order done cancels the other).

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