EUR/NZD analysis for December 31, 2014

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Overview:


In our last analysis, EUR/NZD was trading sideways around the price of 1.5515. We are facing very low volume on the market due to the bank holidays. Our support level around the price of 1.5650 got broken, which is a sign that we may see more downward movement. I have placed major Fibonacci expansion to find potential support level and got Fibonacci expansion 100% at the price of 1.5400. According to the H4 time frame, we can observe weak supply, which is a sign that selling EUR/NZD at this stage looks risky. My advice is to watch for potential selling opportunities after retracement with potential target around the price of 1.5400. Anyway, if we see a larger demand on the market in a very high volume, it may confirm further bullish corrective phase.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5600


R2: 1.5631


R3: 1.5681


Support levels:


S1: 1.5500


S2: 1.5469


S3: 1.5419


Trading recommendations: Be careful when selling the EUR/NZD pair at this stage, since we can observe supply in a low volume.


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Daily analysis of USDX for December 31, 2014

On the daily chart, the USDX has made a pullback on the level of 90.37 to form a higher high pattern, since this instrument has formed a fractal below the low levels played a couple of days ago, which would give some strength to the USDX. However, due to so pronounced movement that has had the USDX in the medium term, this instrument could fall to the level of 88.63.


Dailychart's resistance levels: 90.40 / 93.44


Dailychart's support levels: 88.63 / 87.35


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In the last hours, the USDX has just tried to do a bullish consolidation above the 90.01 level, but without success. These movements have only a very solid technical explanation that the volume of trading of the New Year's eve is being present, because the USDX has low range movements and MACD indicator is a proof of this, as it is in the neutral territory.


H1 chart's resistance levels: 90.01 / 90.26


H1 chart's support levels: 89.76 / 89.51


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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 90.01, take profit is at 90.26, and stop loss is at 89.75.


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Daily analysis of GBP/USD for December 31, 2014

The GBP/USD is having a bullish momentum at the end of the year, making a consolidation near the resistance level of 1.5642. However, the bearish structure on the daily chart still remains intact, because the GBP/USD still has a high probability of falling back to the support level of 1.5506 and conduct a breakout in that area with the formation of a bearish pattern.


Dailychart's resistance levels: 1.5642 / 1.5746


Dailychart's support levels: 1.5506 / 1.5407


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On the H1 chart, GBP/USD has made a breakout at the level of 1.5590, so that the next short-term target in the for this pair would be the resistance level of 1.5632. This bullish move time can not be considered as a possible trend change in the GBP/USD, because this pair currently does not have enough bullish momentum.


H1 chart's resistance levels: 1.5632 / 1.5686


H1 chart's support levels: 1.5590 / 1.5534


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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 1.5590, take profit is at 1.5534, and stop loss is at 1.5646.


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Technical analysis of USD/CAD for December 31, 2014

General overview for 31/12/2014 08:40 CET


As anticipated yesterday, the last wave to the downside is still being expected here to complete the overall complex and time consuming corrective cycle in wave 4 purple. The projected target is at the level of 1.1558, but the price has bounced from the intraday support at the level of 1.1588, and now the corrective structure might be completed. Confirmation of this scenario comes with the breakout of the intraday resistance at the level of 1.1649, otherwise, the market will keep trading inside the neutral range zone. Please notice that any breakout above the level of 1.1665 is bullish and further high prices should be expected.


Support/Resistance:


1.1712 - WR2


1.1670 - WR1


1.1650 - Intraday Resistance


1.1623 - Weekly Pivot


1.1588 - Intraday Support


1.1581 - WS1


1.1558 - Technical Support


1.1535 - WS2


1.1500 - Invalidation Level


Trading recommendations:


Buy orders opened from the level of 1.1633 should be still kept open. The SL orders should be placed below the level of 1.1588 and TP at the level of 1.1672 with a possible extension upside to the level of 1.1733.


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Technical analysis of EUR/JPY for December 31, 2014

General overview for 31/12/2014 08:20 CET


The yesterday's intraday support has been taken out, the market has made a fresh new lows but it failed so far to follow through with the decline. The neaк-term outlook remains the same with two possible scenarios available. The main scenario indicates a completed corrective cycle in wave XX brown, and another leg to the downside is being expected to complete the last wave Z brown in wave 2 red. The alternate outlook indicates an unfinished wave XX brown in a shape of an irregular flat correction, where wave (a) and (b) blue are done and now wave (c) blue to the upside is anticipated. The confirmation of the main scenario comes with a rejection of the level of 146.43. On the other hand, the confirmation of the alternative outlook comes with a violation of the level of 146.43. Any new low below the level of 144.97 supports the main scenario.


Support/Resistance:


149.76 - Technical Resistance|Swing High|


148.35 - WR3


148.22 - Technical Resistance


147.74 - WR2


147.17 - WR1


147.13 - Intraday Resistance


146.54 - Weekly Pivot


146.44 - Intraday Resistance|Key Level|


145.92 - WS1


145.70 - Technical Support


145.39 - WS2


144.78 - Intraday Support|Swing Low|


144.82 - WS3


Trading recommendations:


Daytraders should refrain from trading for now. Please use tight SL orders as the end of the year liquidity is low and the market moves might get very sharp and sudden in either direction.


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Technical analysis of EUR/USD for December 31, 2014

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When the European market opens, the economic calendar lacks any reports. However, the US will release the economic data too such as the Crude Oil Inventories, Unemployment Claims, Natural Gas Storage, Pending Home Sales m/m, and Chicago PMI. So, amid the reports, EUR/USD will move with low to medium volatility during this day.


TODAY TECHNICAL LEVELS:


Breakout BUY Level: 1.2216.


Strong Resistance:1.2209


Original Resistance: 1.2197.


Inner Sell Area: 1.2185.


Target Inner Area: 1.2156.


Inner Buy Area: 1.2127.


Original Support: 1.2115.


Strong Support: 1.2103.


Breakout SELL Level: 1.2096.


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 December 31, 2014

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In Asia, Japan will not release any news but the US will release some economic data such as Crude Oil Inventories, Unemployment Claims, Natural Gas Storage, Pending Home Sales m/m, and Chicago PMI. 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.


Resistance. 3: 119.90.


Resistance. 2: 119.67.


Resistance. 1: 119.45.


Support. 1: 119.15.


Support. 2: 118.92.


Support. 3: 118.68.


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

Daily analysis of major pairs for December 31, 2014

EUR/USD: The EUR/USD went further south yesterday, going below the support line at 1.2150. The price is currently above the support line, but it may go below it again, closing below it. The eventual target for bears is at the support line at 1.2100.


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USD/CHF: This market went above the resistance level at 0.9900 briefly before closing below it. It is expected that the price would go above that resistance level again, closing above it. The bias in the market is bullish and with just a movement of over 100 pips, the USD could reach parity with the CHF.


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GBP/USD: The Cable tested the accumulation territory at 1.5500 before the current upward bounce in the market. The upwards bounce is supposed to be transient, not going above the distribution territory at 1.5600. It is likely that the accumulation territory at 1.5500 could be tested again: the price could even go below it.


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USD/JPY: The sudden stamina in the JPY caused this currency trading instrument to go south on Tuesday. The southward movement was strong enough to lead to a Bearish Confirmation Pattern on the chart. The price is now below the EMA 21 and the RSI period 14 is below the level 50. A movement below the demand level at 119.00 would signify further weakness in the market.


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EUR/JPY: The sudden strength in the Yen has caused the EUR/JPY pair (and some JPY pairs) to go downwards by around 200 pips on Tuesday. The demand zone at 145.00 has been tested and with further weakness in the market, the demand zone would be tested again and possibly breached to the downside.


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#USDX technical analysis for December 31, 2014

The Dollar index remains in a bullish trend, and today it moved closer to our bullish flag target of 91. Trend remains bullish and trailing stops should be raised to 89.70. The short-term resistance is found at 90.10. A two-hour-candle close above it will be a bullish signal with new highs as target.


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Green line = support


Bulls should not be worried as long the Dollar index remains above 89.70 . If support fails, I expect, at least a pullback towards the 38% retracement and the level where the Ichimoku cloud support is. The green rectangle shows the area where I expect a deeper pullback to find support.


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Red line = long-term resistance


The weekly chart continues to be fully bullish. Weekly support is found at 88.60; and if broken, at 85.10. Price is still above the kijun-sen and the tenkan-sen with both indicators having positive slope. The Chiku-span is also bullish pointing higher. The Ichimoku cloud is below current price but it worries me that it is thin. Bulls should be very cautious and keep stops close.


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Gold technical analysis for December 31, 2014

Gold price has held its support on Tuesday and made a big upward spike towards $1,210. This puts the short-term trend back into bulls' hands, but bears, I believe, have not said their final word. Gold price, although, it made a break above the short-term resistance trend line, has pulled back inside the bearish Ichimoku cloud.


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Red line = resistance


Gold price as mentioned above, has broken the downward sloping trend line resistance. However price only managed to reach the 61.8% retracement and pull back inside the cloud. This means that short-term trend is neutral. The 61.8% retracement is important resistance; and if bears manage to hold it intact, we could expect a strong downward reversal.


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Blue line = support


Gold price on the weekly chart continues to trade between the kijun-sen and the tenkan-sen. It continues to trade in the neutral area between important levels of $1,240 and $1,180. The Ichimoku cloud, however, remains above current weekly chart, and this implies that the longer-term trend is bearish. A close above the tenkan-sen will give gold price a push towards the cloud resistance. On the other hand, a close below the kijun-sen at $1,185 will be a bearish signal.


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Technical analysis of GBP/USD for December 31, 2014

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Overview :



  • The GBP/USD pair on December 31, 2014. The resistance is going to set at the level of 0.5598. Consequently, the descending movement will probably be lower than the 0.5600 level with the targets at 0.5520 and 0.5485. Also, it should be noted that the weekly support 1 set at the level of 1.5473. On the contrary, the support has already set at 1.5473. Furthermore, it should be noticed that it will be very profitable to buy above this level for retesting this level in the short period. Therefore, buy deals are recommended above the 1.5473 level with targets at 1.5560 and 1.5610 to reach the double top.


Technical levels :



  • It should be noted that the price will move between 1.5600 and 1.5522 today.

  • Projected high: 1.5610

  • Strong resistance (sell limit): 1.5610.

  • The resistance will be set at the price of 1.5600.

  • Current pivot: 1.5556

  • Projected low: 1.5473


Observations :



  • The support will set at the level of 1.5473, but the double bottom is going to set at 1.5485.

  • The GBP/USD pair called for bearish market from the price of 1.5610 this week.

  • Stop loss should never exceed your maximum exposure amounts.

  • As a rule, the market is highly volatile on the last day of a year.


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Technical analysis of EUR/USD for December 31, 2014

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Overview :



  • The EUR/USD pair has rebounded from the minor resistance at the level of 1.2180, and it is now approaching its support in order to test it. Moreover, it should be noted that the price of 1.2205 is representing the weekly pivot point on the last day of 2014. So it will probably again start a downside movement in this area and recovery. Therefore, it will be a good sign to sell at this point with the first target of 1.2123 to form the double top and continue towards 1.2100 (it should be noted that this level will form the weekly support 1). On the other hand, in case of a break at the level of 1.2205, the best place to set the stop loss should be at the level of 1.2246.


Notes :



  • Major support will set at the level of 1.2100.

  • Major resistance has placed at the 1.2205 price.

  • We expect a new range about 63 pips today.


Intraday technical levels :


Date:30/12/2014


Pair:EUR/USD



  • R3: 1.2251

  • R2: 1.2219

  • R1: 1.2187

  • PP: 1.2155

  • S1: 1.2123

  • S2: 1.2091

  • S3: 1.2059


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EUR/NZD analysis for December 30, 2014

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Overview:


In our last analysis, EUR/NZD was trading downward. The price has tested the level of 1.5508 in an average volume. Our support level around the price of 1.5650 got broken, which is a sign that we may see more downward movement. I have placed major Fibonacci expansion to find potential support level and got Fibonacci expansion 100% at the price of 1.5400. According to the H4 time frame, we can observe selling climax in the background and weak supply later. Selling at this stage looks risky. My advice is to watch for potential selling opportunities after retracement with potential target around the price of 1.5400. Anyway, if we see a larger demand on the market in a very high volume, it may confirm further bullish phase.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5691


R2: 1.5721


R3: 1.5770


Support levels:


S1: 1.5593


S2: 1.5563


S3: 1.5514


Trading recommendations: Be careful when selling the EUR/NZD at this stage, since we can observe supply in a low volume.


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

Gold analysis for December 30, 2014

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Overview :


Since our last analysis, gold has been trading upward. As we expected, the price tested the level of 1,210.57. Our Fibonacci retracement 61.8% at the price of 1.181.00 has been held successfully what caused price to start with an upward movement. According to the H4 time frame, we can observe demand in an ultra high volume (buying climax). My advice is to watch for potential buying opportunities near the lows. According to the daily time frame, we can observe demand in a volume above the average, which is a sign that selling gold at this stage looks risky. I placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 38.2% at the price of 1,196.00 and Fibonacci retracement 61.8% at the price of 1,212.00. If the price breaks the level of 1,212.00 in a high volume, we may see a potential testing of the level of 1,237.00.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,193.22


R2: 1,197.68


R3: 1,204.90


Support levels:


S1: 1,178.78


S2: 1,174.32


S3: 1,176.10


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


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