Technical analysis of EUR/USD for January 06, 2016 Market Analysis Review

When the European market opens, some economic news will be released such as PPI m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI.The US will release the economic data too such as the FOMC Meeting Minutes, Crude Oil Inventories, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Trade Balance, ADP Non-Farm Employment Change, so amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0797.

Strong Resistance:1.0791.

Original Resistance: 1.0780.

Inner Sell Area: 1.0769.

Target Inner Area: 1.0744.

Inner Buy Area: 1.0719.

Original Support: 1.0708.

Strong Support: 1.0697.

Breakout SELL Level: 1.0691.

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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Technical analysis of USD/JPY for January 06, 2016 Market Analysis Review

In Asia, Japan will not release any economic data but the US will release some economic data such as FOMC Meeting Minutes, Crude Oil Inventories, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Trade Balance, ADP Non-Farm Employment Change. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 119.15.

Resistance. 2: 118.92.

Resistance. 1: 118.69.

Support. 1: 118.41.

Support. 2: 118.17.

Support. 3: 117.94.

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 January 06, 2016 . Thanks for your support.

Daily analysis of USDX for January 06, 2016 Market Analysis Review

USDX is doing some pullbacks around the 99.58 level after a bullish momentum gained above the support zone of 98.90. At H1 chart, we should note the Index is forming a higher high pattern that can be looking to reach the 99.87 level, and eventually the 100.00 key psychological zone. MACD indicator is entering negative territory.

H1 chart's resistance levels: 99.58 / 99.87

H1 chart's support levels: 99.07 / 98.90

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 99.58, take profit is at 99.87, and stop loss is at 99.31.

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Daily analysis of GBP/USD for January 06, 2016 Market Analysis Review

Our current view of H1 chart is still calling for more declines towards the support level of 1.4608, because overall structure shows some bearish patterns aligned with the fractals to the downside. 200 SMA is slightly bearish and that's why a breakout below the 1.4608 level will open the doors to test the 1.4464 low level. MACD indicator is at positive territory.

H1 chart's resistance levels: 1.4702 / 1.4802

H1 chart's support levels: 1.4608 / 1.4464

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 at 1.4608, take profit is at 1.4464, and stop loss is at 1.4755.

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Daily analysis of USD/JPY for January 05, 2016 Market Analysis Review

Overview

A strong break of the 129.66 support confirmed resumption of a whole decline from 141.04. Intraday bias remains on the downside for the moment. A break of lower channel support (now at 128.56) will indicate downside acceleration and target a test at the 126.09 key support level. On the upside, movements above 130.16 minor resistance will turn bias neutral and bring consolidations. But the near-term outlook will stay bearish as long as the 134.58 resistance holds. We expect more range trading between 126.09 and 149.76 in the medium term. Then it should be followed by an upside breakout at a later stage. Nonetheless, a break of 126.09 would extend the correction towards 61.8% retracement at 115.36.

Daily Pivots: (S1) 128.45; (P) 129.60; (R1) 130.54

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Daily analysis of Silver for January 05, 2016 Market Analysis Review

Overview

The silver price attempted to breach the 13.96 level yesterday without holding above it in order to keep the negative pressure valid on an intraday and short-term bases. The price was supported by the EMA50, waiting for resuming the bearish wave that will target 13.50 and then 13.00. We remind you that breaching the 14.25 level and holding with a daily close above it will stop the negative expectations and lead the price to turn its intraday trend to the upside. The silver price continues maneuvering around the 13.96 level as the EMA50 meets this level to add more strength to it, which keeps our bearish overview valid for the upcoming period. It targets 13.50 followed by 13.00 initially, reminding you that holding below 14.25 represents the main condition to achieve the targets.

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Daily analysis of GBP/JPY for January 05, 2016 Market Analysis Review

Overview

GBP/JPY dropped to as low as 174.93 and recovered mildly before the 174.86 key support level. There is no clear signs of bottoming yet. Intraday bias remains on the downside. A solid break of 174.86 will indicate a larger trend reversal and target 100% projection of 195.86 to 180.36 from 188.79 at 173.9 first. On the upside, movements above the 178.10 minor resistance will turn bias neutral and bring consolidation first. But the near-term outlook will stay bearish as long as the 180.36 resistance turned into support holds. A solid break of 174.86 will confirm the trend reversal and bring a deeper fall to 38.2% retracement of 116.83 to 195.86 at 165.67 and below. In case of another rise, we will be cautious about a strong resistance from 199.80/200.00 to bring the reversal finally.

Daily Pivots: (S1) 174.68; (P) 176.02; (R1) 177.09

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