Daily analysis of GBP/JPY for December 25, 2014

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Overview


Proceeding from the today's H4 chart, the pair is still trading between the support level of 186.70 and the resistance level of 187.70, and currently the pair fails again to break the resistance level. If the pair breaks it to take an upward movement, it might continue its bullish trend and we will get a good opportunity to buy again above the resistance level of 187.70 untill the H4 closure above the resistance level of 188.50 as a target level. Then we should wait for breaking this resistance level to continue the upward move and open the way towards the resistance level of 189.30. On the other hand, if the pair fails to break the resistance level of 187.70 and bounces from it, it may take a downward trend, which will enable the support level of 186.70 again. Therefore, we suggest waiting for the next closure before making a decision.


Resistance and support levels: R3 (189.30), R2 (188.50), R1 (187.70), S1 (186.70), S2 (185.80), S3 (185.00).


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Silver daily analysis for December 25, 2014

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Overview


In the today's H4 chart, silver has stabilized above the support level of 15.50 and could not break it, and currently it is bouncing towards the resistance level of 16.00 to test it. So, we still suggest waiting for closing above the resistance level to give us a new opportunity for more buy signals with the first target few pips below the resistance level of 16.50, then after breaking this resistance level, silver would open the way towards the resistance level of 16.75, which means more bullish signals, but as long as the metal trades below the resistance level of 16.00, it cancels the bullish scenario.


Resistance and support levels: R3 (16.75), R2 (16.50), R1 (16.00), S1 (15.70), S2 (15.40), S3 (15.00).


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Daily analysis of major pairs for December 25, 2014

EUR/USD: This pair still maintains the bearish outlook on it. The price is below the resistance line at 1.2200, going towards the support line at 1.2150 (which is our ultimate target). There is currently no big momentum in the market, but when momentum does return to the market, the price would go further downwards.


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USD/CHF: The USD/CHF pair is now consolidating in the context of a downtrend, being above the support level at 0.9850. The ultimate target remains at the resistance level of 0.9900, though there are no important fundamental figures today.


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GBP/USD: After testing the accumulation territory at 1.5500, the Cable bounced upwards, reaching the distribution territory at 1.5550. It is possible that the Cable may go above that distribution territory a little, but the present upwards bounce is a great opportunity to sell short when things rally in the context of a bearish outlook.


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USD/JPY: This is a bull market. The price is above the EMA 56 and the RSI period 14 is above the level 50. The bullish outlook is very strong and there is a high probability that when momentum returns to the market, it would help push the price further upwards. The ultimate target is at the supply level at 121.00.


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EUR/JPY: After a bullish attempt on Monday, this market has been trading sideways. However, the bias is already bullish and there could be a breakout to the upside soon. The upwards breakout may enable the price to challenge the supply zone at 147.50 – courtesy of the novel Bullish Confirmation Pattern in the chart.


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

Silver daily analysis for December 24, 2014

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Overview


Yesterday the metal failed to break the support level of 15.50 to bounce again from it and to trade between this rupport level and below the sesistance level of 16.00. Currently, the metal must retest the resistance level of 16.00 again, therefore, we should wait for closing above to continue its upward trend move. Given that the metal has managed to close H4 above today, it gives us a good opportunity for more bullish signals above it with the first target few pips below the resistance level of 16.50, then the second target at 16.75, after breaking this support level. But as long as silver is trading below 16.00, waiting would be preferred in that case and it cancels the bullish move scenario.


Resistance and support levels: R3 (16.75), R2 (16.50), R1 (16.00), S1 (15.70), S2 (15.40), S3 (15.00).


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

Daily analysis of GBP/JPY for December 24, 2014

GBPJPY_24-12.png


Overview


Proceeding from the today's H4 chart, the pair is still trading between the support level of 186.70 and the resistance level of 187.70 and currently the pair fails again to break the resistance level. If the pair breaks it to take an upward movement, it might continue its bullish trend and we will get a good opportunity to buy again above the resistance level of 187.70 untill the H4 closure above the resistance level of 188.50 as a target level. Then we should wait for breaking this resistance level to continue the upward move and open the way towards the resistance level of 189.30. On the other hand, if the pair fails to break the resistance level of 187.70 and bounces from it, it may take a downward trend, which will enable the support level of 186.70 again. Therefore, we suggest waiting for the next closure before making a decision.


Resistance and support levels: R3 (189.30), R2 (188.50), R1 (187.70), S1 (186.70), S2 (185.80), S3 (185.00).


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