Intraday technical levels and trading recommendations on EUR/USD for November 25, 2014

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The price zone of 1.2880-1.2900 ( corresponding to the upper limit of the previous broken channel ) was being targeted one month ago. However, bearish pressure was applied earlier around 1.2800-1.2840 where the depicted head and shoulders reversal pattern was initiated.


A bearish breakout off the bullish channel took place shortly after, thus confirming a Flag continuation pattern. Bearish projection target was already reached around 1.2490.


Daily fixation below 1.2490-1.2500 (the origin of the previous bullish swing expressed one month ago) theoretically extends the bearish targets towards the price level of 1.2200.


As we mentioned, the EUR/USD bears needed to obviously fixate below 1.2490 soon enough ( took place already on Friday ).


Bullish recovery was expressed off 1.2360 resulting in Yesterday's daily bullish candlestick.


Price level of 1.2200 corresponds to the projection target of the current bearish flag pattern as long as the bears keep defending price zone of 1.2450-1.2490 as their recent SUPPLY zone.


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As depicted on the chart, the EUR/USD pair has been respecting the limits of the current previous bearish channel until November 14.


Few ascending bottoms around 1.2400 and 1.2430 ( above the depicted broken uptrend line ) were established.


The EUR/USD pair managed to fixate above price level of 1.2500 for a few 4H candlesticks before the bears managed to apply enough bearish pressure on Friday.


Trade recommendations:


The bearish flag scenario should now be considered for the longer-term positions.


The EUR/USD pair now has a bearish projection target roughly located around price level of 1.2200.


Price zone of 1.2470-1.2490 should now be considered for SELLING the pair at considerable prices. Risky traders can SHORT the pair at lower prices as their money management allows.


Stop Loss should be located above 1.2575.


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Technical analysis of USD/JPY for November 25, 2014

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Fundamental overview:


USD/JPY is expected to consolidate in a higher range . USD/JPY is underpinned by the yen-funded carry trades amid the positive risk sentiment (VIX fear gauge eased 2.17% to 12.62, S&P 500 gained 0.29% to post record-high close of 2,069.41 overnight) on encouraging data from Germany and easy-money policies globally. USD/JPY is also supported by the demand from Japan's importers and Bank of Japan's large-scale easing policy. But USD/JPY gains are tempered by Japan's export sales and lower U.S. Treasury yields (10-year at 2.302% versus 2.315% late Friday), softer USD sentiment (ICE spot dollar index last 88.15 versus 88.41 early Monday) after lower Markit flash U.S. November services PMI of 56.3 versus final October reading of 57.1, drop in Chicago Fed National Activity Index to +0.14 in October from +0.29 in September.


Technical comment:
Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at overbought levels, 5 and 15-day moving averages are advancing.


Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 118.70 and the second target at 119. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 117.40. A break of this target would push the pair further downwards and one may expect the second target at 116.75. The pivot point is at 117.75.


Resistance levels:

118.70

119

119.70


Support levels:

117.40

116.75

116.35


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Technical analysis of USD/CHF for November 25, 2014

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Fundamental overview:


USD/CHF is expected to trade in a higher range. It is undermined by the softer USD sentiment (ICE spot dollar index last 88.15 versus 88.41 early Monday) after lower Markit flash U.S. November services PMI of 56.3 versus final October reading of 57.1, drop in Chicago Fed National Activity Index to +0.14 in October from +0.29 in September, spillover strength from euro on the Swiss franc and franc demand on buoyant CHF/JPY cross. But USD/CHF losses are tempered by the ultra-loose Swiss National Bank's monetary policy.


Technical comments:

Daily chart is mixed as stochastics is in bullish mode, but MACD is bearish.


Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9720 and the second target at 0.9740. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9605. A break of this target would push the pair further downwards and one may expect the second target at 0.9555. The pivot point is at 0.9655.


Resistance levels:

0.9720

0.9740

0.9760



Support levels:
0.9605

0.9555

0.9515


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Technical analysis of NZD/USD for November 25, 2014

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Fundamental overview:


NZD/USD is expected to consolidate with a bearish bias. It is undermined by the China growth worries and weak commodity prices. But NZD/USD downside is limited by the NZD-USD interest differential, softer USD sentiment (ICE spot dollar index last 88.15 versus 88.41 early Monday) after lower Markit flash U.S. November services PMI of 56.3 versus final October reading of 57.1, drop in Chicago Fed National Activity Index to +0.14 in October from +0.29 in September and Kiwi demand on buoyant NZD/JPY cross amid the positive risk sentiment and Kiwi demand on soft AUD/NZD cross.


Technical Comment:

Daily chart is mixed as MACD is bullish, but stochastics is in bearish mode.


Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.7760. A break of this target will move the pair further downwards to 0.7735. The pivot point stands at 0.7840. In case the price moves in the opposite direction and bounces back from the support level, then it will move above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.7885 and the second target at 0.7910.


Resistance levels:

0.7885

0.7910

0.7945

Support levels:

0.7760

0.7735

0.77


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Technical analysis of GBP/JPY for November 25, 2014

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Fundamental overview:


GBP/JPY is expected to trade in a higher range. It is supported by the improved euro sentiment, positive investor risk appetite and demand from Japan's importers. But GBP/JPY gains are tempered by Japan's export sales .GBP/JPY gains are tempered by the sterling sales on buoyant EUR/GBP cross.


Technical comment:

Daily chart is mixed as MACD is bullish, 5 and 15-day moving averages are advancing but stochastics is bearish at the overbought levels.


Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 185.75 and the second target at 186.30. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 184. A break of this target would push the pair further downwards and one may expect the second target at 183.35. The pivot point is at 184.45.


Resistance levels:

185.75

186.30

187

Support levels:

184

183.35

182.80


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Gold : analysis for November 25, 2014

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Overview :


Since our last analysis, gold has been trading sidewas around the price of 1,200.00. We are facing another low volume day, which is a sign that buying at this stage looks risky. According to the daily time frame, we can observe weak demand, which is a sign that buying looks risky. We can observe rejection from our Fibonacci retracement 61.8% at the price of 1,208.00, which caused the price to start a bearish phase. I have placed Fibonacci expansion to find potential support levels and I got Fibonacci expansion 61.8% at the price of 1,194.00 (successfully tested), Fibonacci expansion 100% at the price of 1,188.00 and Fibonacci expansion 161.8% at the price of 1,177.00. If the price breaks the level of 1,194.00 in a high volume and strong price action, we may see potential testing the level of 1,188.00. Be careful when buying at this stage but watch for buying opportunities after a bearish corrective phase.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,202.16


R2: 1,204.74


R3: 1,208.90


Support levels:


S1: 1,193.84


S2: 1,191.26


S3: 1,187.10


Trading recommendations: Watch for potential buying opportunities after retracement (buy on the lows).


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Technical analysis of NZD/USD for November 25, 2014

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Trading recommandations :



  • According to the previous events, the NZD/USD pair has still been trapped between 0.7850 and 0.7735. A strong level (resistance) will be formed at the level of 0.7850, providing a clear signal for sell deals with the target seen at 0.7788 and 0.7733 in order to test the double bottom. Stop-loss is to be placed above 0.7865. In the long term, a strong level (support) will be formed at the level of 0.7662, providing a clear signal for buy deals with the targets seen at the 0.7703 and level. Stop-loss is to be placed below 0.7745.



Notes :



  • We expect a range about 59 pips today.

  • The risk of 59 pips must make a profit of 88 pips.

  • The level of 0.7850 will confirm the bearish market.

  • Volatility today is 127.86. As a rule, the market is highly volatile if the last day had a huge volatility.



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Technical analysis of USD/CHF for November 25, 2014

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Overview :



  • The major support of the USD/CHF pair has already set at the level of 0.9560 and minor support sets at 0.9604. Equally important, the 0.9604 price coincides with the ratio of 38.2% Fibonacci retracement levels. On the other hand, the double top has placed at the point of 0.9730; and the first resistance is seen at 0.9700. Additionally, according to the previous events, the price will move between 0.9690 and 0.9604. In addition, the range will be around 90 pips today. Also, It should be noted that the trend is descending from the resistance level of 0.9700. Therefore, strong resistance will be formed at the level of 0.9700 providing a clear signal for sell deals with the targets seen at 0.9650 and it might resume to 0.9607 if the trend will be able to break the first target. Anywise, stop loss should never exceed your maximum exposure amounts, for that the stop loss should be placed above the double top at the 0.9745 level.


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Elliott wave analysis of EUR/NZD for November 25 - 2014

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Today's support and resistance levels:


R3: 1.6048


R2: 1.5990


R1: 1.5963


Current spot: 1.5920


S1: 1.5907


S2: 1.5878


S3: 1.5849


Technical summary:


Quite unpredictable moves are still going on. The rally from the 1.5644 low has been very strong, but we think that a top is close at hand and a correction towards at least 1.5849 and possibly even lower to 1.5805 soon will be seen. Once this correction is over, we should see a new powerful rally higher towards 1.6273 as the next strong resistance level that needs to be conquered to confirm the rally towards 1.6446 and higher towards 1.6800.


Trading recommendation:


We will be looking for a buying opportunity next to 1.5805.


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Elliott wave analysis of EUR/JPY for November 25 - 2014

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Today's support and resistance levels:


R3: 147.39


R2: 147.05


R1: 146.88


Current spot: 146.73


S1: 146.52


S2: 146.29


S3: 146.02


Technical summary:


The rally in wave (i) to 149.13 became a bit unusual as the rally ended at 149.13, where it was 423.6% the distance traveled in wave i added to the top of wave i. Looking at the upper chart, we can see that these former resistance points now act as both support and resistance as the correction from 149.13 is unfolding. The decline from 149.13 was halted at the 300% extension target for a minor rally to the 361.8% extension target before turning lower again. We will now be looking for the next part the decline from 149.13 lower to 144.58 before the next minor rally. In the short term, we expect minor resistance at 146.85 to protect the upside for the next decline towards 144.58.


Trading recommendation:


We sold EUR at 146.90 and will move our stop lower to 147.50 and place take profit at 144.75. If you are not short in EUR yet, then sell near 146.85 with the same stop and take profit levels.


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#USDX Technical analysis for November 25, 2014

The Dollar index is pulling back after the Friday break out above 88.15. This back test is critical as bulls would not want to see another fake break out and reversal as this would imply that a deep correction is starting. A short-term trend remains bullish and the bullish flag pattern continues to be valid.


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Black lines = consolidation range


The Dollar index is above the cloud support which is very thin. This is not a good sign. Support is at 87.80. Resistance is at 88.30. As long as the Dollar index remains above 87.50, the trend will remain bullish and we will continue to have 91 as a target.


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The Dollar index remains in a bullish trend in the daily chart as long as price is above 86.50. The cloud indicators remain bullish and the bullish flag patterns point to 91. Trend reversal will occur if the index closes below 87.


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Gold Technical analysis for November 25, 2014

Gold price remains around the 61.8% Fibonacci retracement and is showing signs of strength as it is holding above the short-term support of $1,189 and is trying to break above the sideways consolidation targeting $1,220-$1,225 in the short-term.


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Blue line = support


Black line = contracting triangle


Gold price is breaking above the contracting triangle consolidation pattern and this is a bullish signal. Breaking above short-term resistance at $1,203 will be a bullish signal and this gives me a target of $1,220-25. So, I believe we could see one more final upside move before a trend reversal.


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Black line = support


Gold price remains above the Ichimoku cloud and above the black line support. As long as these two conditions are met, a short-term trend remains bullish. Important resistance is at $1,225-$1,230. Breaking above that level will put my longer-term bearish view in challenge. Critical resistance is also the $1,255 high. Breaking above that level will make me rethink of my bearish expectations for $1,050. Concluding, the short-term trend targets $1,225, breaking support of $1,145 will favor my bearish view for a move down to $1,050.


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Technical analysis of EUR/JPY for November 25, 2014

General overview for 25/11/2014 09:20 CET


The corrective cycle labeled as wave W brown looks completed and the market has bounced from the level of the higher time frame support. So far, the wave progression inside the corrective cycle might be considered completed but there is still a chance that it will be more complex and time-consuming as the current wave progression will change into WXY complex structure. Only a new high above the level of 149.14 would neglect the possibility of another wave to the downside in the ongoing corrective cycle.


Support/Resistance:


149.14 - Swing High


148.50 - Intraday Resistance


147.98 - WR1


147.38 - Intraday Resistance


146.38 - Weekly Pivot


145.67 - Technical Support


145.84 - Intraday Support


Trading recommendations:


The level of 146.75 had been violated and now SL should be placed below the intraday support at the level of 145.58 and TP level in longer term should aim for the level of 147.98 and 149.14.


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Technical analysis of EUR/JPY for November 25, 2014


Technical outlook and chart setups:


The EUR/JPY pair is rallying as expected and hitting 147.40 levels before pulling back. Please note that the backside of immediate support trend line is providing resistance around the same region. Implications are both ways at the moment, with longer trend pointing higher. Till the time 145.58 (yesterday's low), remain intact, the pair could drift sideways or in a rising channel and try to push higher towards 151.00 and 154.00 levels in the sessions to come. On the flip side, a break below 145.50/55, the pair could drift lower towards further support trend line. Support is 145.55 (interim), followed by 145.00 and lower while resistance is 147.50 (interim) and 149.00 respectively.


Trading recommendations:


Remain long for now, move stop to 145.50, the target is open. One could reverse positions on a break below 145.50.


Good luck!


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Technical analysis of GBP/CHF for November 25, 2014


Technical outlook and chart setups:


The GBP/CHF pair has paused around the 1.5200/20 levels as seen here, around the fibonacci 0.50 resistance. It is still recommended to hold remaining long positions with a risk at break even. The pair might be looking to push through 1.5300 levels from here, which is also the support turned resistance zone, as depicted here. Resistance is seen at 1.5450 levels, followed by 1.5475, and 1.5550 levels while support is seen at 1.5100, followed by 1.5025, 1.4950 and lower respectively. Bulls could be looking to remain in control till 1.5300 levels at least.


Trading recommendations:


Remain long on remaining positions for now, move stop to break even levels, the target is at 1.5300.


Good luck!


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Technical analysis of Silver for November 25, 2014


Technical outlook and chart setups:


Silver looks to be setting up to push higher towards $17.00 levels at least. It is recommended to hold remaining long positions taken earlier, risk remains below $15.40 for now. The metal maybe targeting $17.00 and subsequently $17.30 levels from here on. This could confirm that bulls are in control and further dips should be bought. On the flip side, a drop below $15.50 levels could be extremely bearish for the metal. Probabilities are stacked 60-40 towards higher side from the current level, though. Immediate support is seen at $15.90/16.00, followed by $15.20 and $15.00 levels while resistance is seen at $17.30/50, followed by $17.80/18.00 and higher respectively.


Trading recommendations:


Remain long, stop at $15.20, the target is open.


Good luck!


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Technical analysis of Gold for November 25, 2014


Technical outlook and chart setups:


Gold has been trading in a tight range since last 2 sessions as seen here. The metal trades around $1,198.00/99.00 levels for now, looking to push higher. A break above $1,208.00/10.00 levels could challenge $1,235.00 and subsequently $1,255.00; indicating that bulls are here to stay longer. On the flip side, a bearish reaction around $1,208.00/10.00 could bring the metal back under pressure. Immediate support is seen at $1,175.00, followed by $1,147.00/50.00, $1,130.00 and lower while resistance is at $1,235.00, followed by $1,255.00 and higher respectively.


Trading recommendations:


Hold partial long positions taken earlier, stop at break even, the target is open.


Good luck!


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Technical Analysis of USD/CAD for November 25, 2014

The oil prices put pressure on this pair. The Canadian dollar raises its voice against the US dollar. The pair took the support from 50Dsma and started bouncing from a 3-week low. Today, the pair opened on a bullish mode, opened lower at 1.1278. The pair has the nearest resistance at 1.1315 20Dsma, above this strong upswing looms for targets at 1.1370, 1.1390, and 1.1400. On the down side, the pair has strong support zone between 1.1120 and 1.1100. Bears will have an upper hand below 1.1100. Ahead of the OPEC meeting on Thursday, we expect huge volatile this week. We can see a huge spike in case if the prices are breached above 1.1325. The pair has strong resistance zone between 1.1393 and 1.1402 and support zone between 1.1215 and 1.1191. The pair has major resistance at 1.1425 on a daily closing basis. In case if the pair closes above 1.1386 on a weekly basis, it can challenge 260 odd pips on the higher side. Today, traders' focus shifts to Canadian retail sales and US consumer confidence data.


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Technical Analysis of GBP/USD for November 25, 2014

GBP/USD


The cable has been consolidating at the lower levels. It seems the cable is forming a base at 1.5590. The trading range is framed between 1.5590 and 1.5737. Today, the pair opened on a bearish note unable to breach the previous day's high at the Asian session. As of now, on the weekly chart the cable formed a double bottom at 1.5590. In case if the cable holds the 1.5590 the double bottom, can turn to the triple bottom on the weekly chart. In case if this happens, we can expect some technical bounce towards 1.5810 and 1.5880. We recommend fresh buying above 1.5740 with the targets at 1.5770, 1.5800, 1.5850, and 1.5880. We recommend selling below 1.5670 with the targets at 1.5640 and 1.5630. In case if the cable falls below 1.5630, the last bulls hope exists at 1.5590. Below this, panic will be triggered with 100 or 150 pips down side. On the hourly chart, we can observe continuation of the symmetrical triangle. The height of the triangle is 147 pips.


Trade:


Selling below 1.5670.


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Technical Analysis of EUR/USD for November 25, 2014

The business climate indicator rose after six consecutive shrinks. The Ifo Business Climate Index for industry and trade in German rose to 104.70 from 103.20 points in October. The manufacturing sector gives a big thumbs up in the export business. The Euro gained 80 pips in yesterday's session, closed at days high. The pair managed to held at the previous low and gave strong close. The further outlook on the Euro is still bearish because of easing. We recommend fresh selling below 1.2350 with the targets at 1.2320, 1.2300, 1.2250, and 1.2226. In case if the prices close below 1.2226, it can extend its fall up to 1.2100. Now the focus shifts on Thursday heavy economic data. German and Spanish CPI data and OPEC meeting are the key attraction of this week ahead. There is a lot of uncertainty in the fall in oil prices.


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Today the pair opened on a bearish note, unable to breach the previous high at Asia's session. The pair has been facing strong resistance in broken support trend line. In case if the prices manage to stay above 1.2445, then they can aim up to 1.2490 20Dsma. We still recommend the same strategy, use every rise to sell. Until the prices close below 1.2490, use every rise to sell.


Trade: Strong selling will emerge below 1.2320.


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Technical analysis of EUR/USD for November 25, 2014

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When the European market opens, some economic news will be released such as German Final GDP q/q and Italian Retail Sales m/m. The US will also release the economic data such as the Prelim GDP q/q, Prelim GDP Price Index q/q, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, and Richmond Manufacturing Index. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2490.

Strong Resistance:1.2482.

Original Resistance: 1.2470.

Inner Sell Area: 1.2458.

Target Inner Area: 1.2428.

Inner Buy Area: 1.2398.

Original Support: 1.2386.

Strong Support: 1.2374.

Breakout SELL Level: 1.2366.

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 on Gold for November 25, 2014

The yellow metal is facing strong resistance at $1,200.00. In yesterday's session, the metal rejected at $1,200.00 level and closed below that. Today, the metal opened on a bearish note, opened higher at $1,198.60. The metal has strong resistance between $1,205.00 and $1,207.00. Until the metal closes below these levels, bears have an upper hand. The metal was supported by China rate cut decision. This week, we can expect high volatility in the metal prices. The Swiss gold referendum will take place on November 30, 2014. The nearest weekly resistance exists at $1,213.50, above this $1,240 and $1,243.00 are the major resistance levels. Bulls will regain the strength, in case if the metal prices close above $1,207.00. Today, the focus shifts to US consumer confidence and GDP data.


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From an intraday view, the prices are taking support at $1,295.50, below this $1,294.00 and $1,192.50 are the support levels. In the hourly chart, the metal is making higher highs and higher lows. The panic will be triggered below $1,174.00. After Fisher's inflation comments, gold started falling. We recommend intraday selling below $1,192.00 with the targets at $1,189.50, $1,186.40, $1,184.60, and $1,180.00 levels.


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Technical analysis of USD/JPY for November 25, 2014

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In Asia, Japan will release the Monetary Policy Meeting Minutes, SPPI y/y, and BOJ Gov Kuroda Speech. The US will publish some economic data such as Prelim GDP q/q, Prelim GDP Price Index q/q, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, and Richmond Manufacturing Index. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 118.58.

Resistance. 2: 118.35.

Resistance. 1: 118.12.

Support. 1: 117.83.

Support. 2: 117.60.

Support. 3: 117.37.


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Daily analysis of USDX for November 25, 2014

The USDX has made a pullback at the level of 88.45, although this instrument continues forming a bullish pattern above the trend line level of 88.15. If the USDX takes a breakout at the 87.93 level, one would expect to fall at the level of 87.65. The MACD indicator is entering the neutral territory.


H4chart's resistance levels: 88.19 / 88.65


H4chart's support levels: 87.93 / 87.35


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In the H1 chart, the USDX made a retracement at the level of 88.15. So, this is likely to fall to the instrument support level of 87.86, where the 200 SMA is located. A breakout below that area, could endanger the current bullish trend in the USDX. On the other hand, if the USDX manages to surpass the level of 88.43, the bullish trend could last several days.


H1 chart's resistance levels: 88.15 / 88.43


H1 chart's support levels: 87.86 / 87.58


USDXH1.png


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 88.15, take profit is at 88.43, and stop loss is at 87.87.


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Daily analysis of GBP/USD for November 25, 2014

On the daily chart, the GBP/USD pair continues forming a bearish pattern above the support level of 1.5642, so this pair has moved into a low range in the recent days. However, the correction in the GBP/USD pair could extend to the level of 1.5883 in the medium term. Note that this pair formed a fractal in the level of 1.5746. The MACD indicator is in the neutral territory.


H4chart's resistance levels: 1.5746 / 1.5883


H4chart's support levels: 1.5642 / 1.5506


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The GBP/USD pair has made a breakout at the level of 1.5686 and now GBP/USD is facing resistance at the 200 SMA on the H1 chart. If the GBP/USD pair manages to form a bullish pattern over the area, the next target would be the resistance level of 1.5739, which is the high of November 20th. The bearish road at the support levels are 1.5686 and 1.5632. The MACD indicator is entering the overbought area.


H1 chart's resistance levels: 1.5739 / 1.5810


H1 chart's support levels: 1.5686 / 1.5632


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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 1.5686, take profit is at 1.5632, and stop loss is at 1.5740.


The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of major pairs for November 25, 2014

EUR/USD: After testing the support line at 1.2400, this market trended upwards. There is still a Bearish Confirmation Pattern in the market, which can only be rendered invalid when the price goes above the resistance line at 1.2600. Otherwise, the price may go further downwards from here.


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USD/CHF: After testing the resistance level at 0.9700, this market trended downwards by more than 60 pips. There is still a Bullish Confirmation Pattern in the market, which can only be rendered invalid when the price goes below the support level at 0.9550. Otherwise, the price may go further upwards from here.


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GBP/USD: This is a bearish market – irrespective of the bullish effort in it. The only thing that can make the bullish effort to render the bearish outlook useless is a situation in which the price goes above the distribution territory at 1.5800. That is the point where it would be clear that short trades are not sensible.


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USD/JPY: This pair remains in a bullish market and it is supposed to continue going further upwards. The nearest target for bulls is at the supply level at 119.00, which could be reached this week. With enough strength in the market, the price can even go beyond that supply level.


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EUR/JPY: There is a rally on EUR/JPY after the price touched the demand zone at 145.50. The price has moved upward by 150 pips since then, and further move may enable this cross to recover the loss it incurred around the end of last week. There is now a bullish target at the supply zone of 149.00, which was touched last week.


5.pngThe material has been provided by InstaForex Company - www.instaforex.com