Elliott wave analysis of EUR/NZD for December 22 - 2015 Market Analysis Review

Wave summary:

We saw a failed attempt to break above short-term important resistance at 1.6246 yesterday, which added new downside pressure for a new low for wave ii at 1.5949. As long as the start of wave i at 1.5784 stays intact, we will give the bullish count the benefit of the doubt and look for a break above 1.6164 and more importantly a break above 1.6246 to confirm that wave ii is over and an extended wave iii higher is unfolding.

To sum up, a break above 1.6246 failed yesterday and the new low is slightly disturbing and make us more cautious than normal.

Trading recommendation:

We are looking to buy EUR upon a break above 1.6164 and will place stop at 1.5935.

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Elliott wave analysis of EUR/JPY for December 22 - 2015 Market Analysis Review

Wave summary:

We have seen a nicely rally from the 131.00 low. The break above 132.39 is the first minor indication that wave c towards 135.34 and maybe even towards 136.69 now is unfolding. It means the rally of the 131.00 low is not convincing enough so far, but we will hand bulls the benefit of the doubt and stay with the uptrend as long as minor support at 131.65 protects the downside.

The next important resistance to look for is found at 133.78 and a break above here will confirm the rally to 135.34 and possibly higher.

Trading recommendation:

We are long EUR 131.95 and will move our stop higher to 131.60. If you are not long EUR yet, then buy near 132.10 and use the same stop at 131.60.

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Technical analysis of EUR/USD for December 22, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as Belgian NBB Business Climate, GfK German Consumer Climate, and German Import Prices m/m. The US will release the economic reports too such as the Richmond Manufacturing Index, Existing Home Sales, HPI m/m, Final GDP Price Index q/q, and Final GDP q/q. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0958.

Strong Resistance:1.0952.

Original Resistance: 1.0941.

Inner Sell Area: 1.0930.

Target Inner Area: 1.0905.

Inner Buy Area: 1.0880.

Original Support: 1.0869.

Strong Support: 1.0858.

Breakout SELL Level: 1.0852.

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 December 22, 2015 . Thanks for your support.

Technical analysis of USD/JPY for December 22, 2015 Market Analysis Review

In Asia, Japan will not release any economic data. The US economic calendar will contain some reports such as Richmond Manufacturing Index, Existing Home Sales, HPI m/m, Final GDP Price Index q/q, and Final GDP q/q. So there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.86.

Resistance. 2: 121.63.

Resistance. 1: 121.39.

Support. 1: 121.09.

Support. 2: 120.85.

Support. 3: 120.61.

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 December 22, 2015 . Thanks for your support.

Technical analysis of NZD/USD for December 22, 2015 Market Analysis Review

Overview:

• The NZD/USD pair:
• The resistance will be set at the level of 0.6834 and the support has already been placed at 0.6737.
• The key level is likely to be set at 0.6737.
• The level of 0.6834 will represent the double top, for that the value of 100% Fibonacci retracement levels is placed at the same price (double top on H1 chart).
• The daily pivot point at the 0.6779 price.
• According to the previous events, the GBP/USD pair is going to move between 0.6737 and 0.6834.
• We expect a range about 97 pips today.
• Above the level of 0.6737 the bullish market will be confirmed.

Technical levels:

• It should be noted that the market of the GBP/USD pair will move between 0.6737 and 0.6834 today.
• Projected high: 0.6834.
• Strong resistance (sell limit): resistance will be formed at the level of 0.6834.
• Current pivot: 0.6780 (weekly pivot point sets at 0.6737).
• Breakout (sell stop): 0.6737.
• Projected low: 0.6665.

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Technical analysis of USD/CHF for December 22, 2015 Market Analysis Review

Overview:

• According to the previous events, the USD/CHF pair is still moving between the levels of 0.9813 and 1.0145. So, we expect a large range of about 332 pips this week. The breakout is seen at the ratio of 38.2% Fibonacci retracement level (0.9812). But the key level is set at 0.9910 because it represents minor support and it is coinciding with the 50% Fibonacci retracement level. The history is likely to repeat itself at this level again. Therefore, it will be a good sign to buy above 0.9910 with the first target at 1.0008. It will call for an uptrend in order to continue its bullish movement towards 1.0150. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed below the double top at 0.9785.

Intraday technical levels:

Date: 22/12/2015

Pair: USD/CHF

• R3: 1.0229
• R2: 1.0149
• R1: 1.0008
• PP: 0.9910
• S1: 0.9813
• S2: 0.9693
• S3: 0.9591

Warning:

• It should be noted that if there is no significant news to influence the market, the price is likely to be moving from pivot point to resistance 1 or support 1. But if there is significant news, the price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.

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Daily analysis of major pairs for December 22, 2015 Market Analysis Review

EUR/USD: The EUR/USD went slightly higher on Monday. The price is above the support line at 1.0900, nosing towards the resistance level at 1.0950. The price would either go above the aforementioned resistance line or below the aforementioned support line, based on what happens today.

USD/CHF: After testing the support level at 0.9800, the USD/CHF has been making some vivid bullish attempts, all in the context of a downtrend. At this juncture, it is not easy to predict the movement of the market, but the bearish bias would not be rendered invalid as long as the resistance level at 1.0050 is not overcome.

GBP/USD: The GBP/USD consolidated on Monday, in the context of a downtrend. There is a possibility of a breakout today or tomorrow, which is most likely to be in favor of the bears. Any rallies seen in this market should be taken as short-selling opportunities.

USD/JPY: After the bearish signal we got last week, the USD/JPY still shows the possibility of going further downwards. The demand level at 120.50 is the next possible target for the bears, which might be reached today or tomorrow. On the other hand, the supply level at 122.00 might check any possible rallies along the way.

EUR/JPY: This currency trading instrument simply moved sideways on Monday, with no directional movement. The price is currently trying to bounce upwards while the outlook remains bearish. The bearish outlook will not be rendered useless as long as the price does not go above the supply zone at 133.50.

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