Analysis of EUR/NZD for January 05, 2014

EURNZDDaily05.png


EURNZDH405.png


Overview:


In our last analysis, EUR/NZD was trading upwards. As we expected, the price tested the level of 1.5675 in an ultra high volume (buying climax). According to the H4 time frame, we can can observe strong rejection from our resistance level, which caused price to start with downward movement. My advice is to watch for potential selling opportunities. Our major support level is around the price of 1.5400 (Fibonacci expansion 100%).


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5624


R2: 1.5659


R3: 1.5714


Support levels:


S1: 1.5513


S2: 1.5478


S3: 1.5422


Trading recommendations: Be careful when buying the EUR/NZD pair at this stage, since we can observe strong rejection in the background.


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

Analysis of gold for January 05, 2014

GOLDDaily05.png


GOLDH405.png


Overview :


Since our last analysis, gold has been trading upwards. The price tested the level of 1,197.58. According to the 4H time frame, we can observe strong demand in the background, which is a sign that selling gold at this stage looks risky. My advice is to watch for potential buying opportunities near the lows. According to the daily time frame, we have support level at the price of 1,172.00. Our Fibonacci retracement 61.8% at the price of 1,172.00 has been held successful, which caused price to start with upward movement. 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. Any larger demand in a high volume and strong price action may confirm further bullish phase.


Daily pivot Fibonacci points:


Resistance levels:


R1: 1,187.34


R2: 1,189.80


R3: 1,193.77


Support levels:


S1: 1,179.40


S2: 1,176.94


S3: 1,172.97


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


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

Technical analysis of USD/CAD for January 5, 2015

General overview for 05/01/2015 12:00 CET


Just as anticipated during the whole last week, the price has moved impulsively higher, making another swing high at the level of 1.1842 and hitting the projected target levels. Currently there are two possible counts to consider. The first one indicates the possible top in this market as the green five wave impulsive structure has been completed. The alternate one (tracked on H1 chart) indicates more bullish wave progression until the level of 1.1935 min. will be hit. This alternate scenario is very bullish and might suggest that the targets over the level of 1.2000 might be hit with ease. Nevertheless, on an intraday time frame the most important level is the intraday support at the level of 1.1761 and only a breakout below this level would push the price lower to enter the range zone and test the technical support at the level 1.1671. Otherwise, the bias is still bullish.


Support/Resistance:


1.1935 - WR1


1.1842 - Intraday Resistance


1.1761 - Intraday Support


1.1752 - Weekly Pivot


1.1671 - Technical Support


Trading recommendations:


Daytraders should consider to open buy orders from current market levels with SL below the level of 1.1761 and TP at the level of 1.1842.


usdcad_h4.jpgusdcad_h1.jpgThe material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/JPY for January 5, 2015

General overview for 05/01/2015 11:00 CET


On larger time frames we can see that the complex corrective structure labeled here as WXYXXZ brown for wave 2 red might have been completed and now the market might try to rebound impulsively. The last spike down to the level of 143.18 might be the last one in the corrective wave progression to the downside and now the market might start the impulsive structure to the upside. The first resistance is the gap zone between the levels of 144.10 - 144.42 and then a weekly pivot at the level of 144.58. Only a clear impulsive breakout higher would support this view and any violation of the level of 143.18 invalidates this count.


Support/Resistance:


143.18 - Intraday Support|Invalidation Line|


144.10 - 144.42 - Gap Zone


144.58 - Weekly Pivot


144.75 - Intraday Resistance


145.57 - Technical Resistance


146.22 - WR1


Trading recommendations:


Daytraders should consider to open buy orders from current market levels with SL below the level of 143.18 and TP at the level of 144.42 with a possible extension to the level of 144.75.


eurjpy_h4.jpgeurjpy_h1.jpgThe material has been provided by InstaForex Company - www.instaforex.com

#USDX technical analysis for January 5, 2015

The Dollar index has managed to reach my 91 target and has moved even higher with a new bullish flag pattern in the short-term that could push the index above 92. The trend remains bullish and dollar bulls continue to have the upper hand.


usdx.jpg

Blue trend line= support


The Dollar index has formed another bullish flag that has broken upwards and has 92.20-92.30 as a target. The trend remains fully bullish with price above the Ichimoku cloud and I believe we should expect this uptrend to continue higher as long as price is above 89.80.


usdxd.jpg

Red line = support


The Dollar index in the weekly chart remains fully bullish. Our target has been reached. There is no sign of a trend reversal and I believe this uptrend could continue even higher. The best strategy for me is to raise my stops and ride the uptrend as long as it lasts and not look to guess a top. Ichimoku cloud support is found at 89.50 by the tenkan-sen. The Kijun-sen support is at 86. Technical support is at 87.50.


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

Technical analysis of gold for January 5, 2015

Gold price is testing important resistance near $1,200. The trend remains bearish as long as gold price is below $1,205. The weekly trend remains neutral as long as gold price is between $1,240 and $1,170. Gold is now at a price level where I prefer to open short positions rather than long positions.


goldd.jpg

Red line = resistance


Green line = support


Gold price as shown in the weekly chart above, remains between the kijun-sen and the tenkan-sen. Short-term resistance at $1,213 is shown by the red horizontal trendline. Support at $1,178 is shown by the green horizontal trend line. If the red line is broken, we should expect Gold price to test the tenkan-sen at $1,238. If support is broken, then at the same time the kijun-sen will be broken. So very strong support and important trend level on a weekly basis is $1,178.


goldh4.jpg

Red line= resistance


Blue line= support


Gold price in the short-term is making lower highs and lower lows. Trend remains bearish as long as price is below $1,205. If this level is broken upwards then $1,213 will be tested and most probably gold will test also $1,240. At current price levels I prefer to look for short positions with $1,205 as stop. Target at $1,170. If $1,170 is broken on a daily basis then we should expect a price move to $1,140.


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

Technical analysis of EUR/USD for January 05, 2015

When the European market opens, some economic news will be released such as Sentix Investor Confidence, Spanish Unemployment Change, and German Prelim CPI m/m.The US will release its Total Vehicle Sales data as well. So amid the reports, EUR/USD will move low volatility during this day.



Today's technical levels:

Breakout BUY Level: 1.2020.

Strong Resistance:1.2013.

Original Resistance: 1.2001.

Inner Sell Area: 1.1989.

Target Inner Area: 1.1961.

Inner Buy Area: 1.1933.

Original Support: 1.1921.

Strong Support: 1.1909.

Breakout SELL Level: 1.1902.

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

Technical analysis of USD/JPY for January 05, 2015

!USDJPY.jpg

In Asia, Japan will release its Final Manufacturing PMI figures and the US will release its Total Vehicle Sales data. So there is a big probability the USD/JPY pair will move with low volatility during the day.



Today's technical levels:

Resistance. 3: 120.90.

Resistance. 2: 120.67.

Resistance. 1: 120.43.

Support. 1: 120.14.

Support. 2: 119.91.

Support. 3: 119.67.



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

Elliott wave analysis of EUR/JPY for January5 - 2015

2015-01-05-EURJPY-8H.png


Technical summary:


We have seen a low at 142.88. In the short term we expect minor resistance at 144.12 to protect the upside for the next decline towards 142.44 to end wave y and possibly wave (ii). Only a direct break above 144.12 and more importantly a break above resistance at 144.65 will indicate that wave y already has finished and a new rally towards at 145.57 in a new x-wave. Only a break above 146.42 will confirm that the correction in wave (ii) is over and wave (iii) higher is developing.


Trading recommendation:


We are short EUR from 145.90 and will move our stop lower to 144.70 and take profit at 142.55. If you are not short EUR yet, then sell it near 144.12 with a stop at 144.70 and take profit at 142.55


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

Elliott wave analysis of EUR/NZD for January 5 - 2015

2015-01-05-EURNZD-D.png


Technical summary:


The correction from 1.5472 has turned into an expanded flat correction and with the test of 1.5679 no more correction is needed, but to confirm that the correction is over, a break below 1.5572 is needed and a break below this support will confirm a new test of support at 1.5439 on the way towards strong support at 1.5407. Only an unexpected break above 1.5724 will confuse the picture and call for a continuation higher towards strong resistance at 1.5849.


Trading recommendation:


We sold EUR at 1.5620 and has placed our stop at 1.5725. If you are not short EUR yet, then sell near 1.5679 with the same stop at 1.5725.


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

Technical analysis of GBP/CHF for January 05, 2015


Technical outlook and chart setups:


The GBP/CHF pair has dropped lower into the 1.5300 levels, breaking the immediate support trendline as seen here. At the moment, the pair has bounced off the past resistance turned support around 1.5275/1.5300 levels. A bullish reversal here has got potential to take prices on to fresh highs at 1.5620 levels at least, if not further. Immediate support is seen at 1.5250, followed by 1.5070, 1.5000 and lower, while resistance is seen at 1.5525. It is recommended to remain flat for a while and watch out for a reaction at the back side of the trend line which is resistance now.


Trading recommendations:


Remain flat for now.


Good luck!


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

Technical analysis of silver for January 05, 2015


Technical outlook and chart setups:


Silver has yet again bounced off the support region around $15.50 levels as expected last week. The metal is currently trading at sub $16.00 levels and is poised to rally beyond $16.50 as immediate short-term target. Immediate support is seen at $15.50 (interim), followed by $14.50 and lower while resistance is seen at $16.40/50, followed by $17.20/30, $17.40/50, $17.80/18.00 and higher respectively. As discussed earlier, silver might have carved a right shoulder of a potential inverted head and shoulder reversal at $15.50 levels. If this structure holds true, the metal will rally past $18.00 and $23.00 levels pretty soon.


Trading recommendations:


Remain long, stop at $14.25, target is open.


Good luck!


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

Weekly technical levels for EUR/USD for January 5-9, 2015

Weekly technical levels of the EUR/USD pair.


eurusd_pp.png

Trading recommendations :



  • According to the previous events, the price of EUR/USD is going to move between the levels of 1.2000 and 1.1860. The level of 1.2000 is representing the double bottom and coinciding with the ratio of 00% Fibonacci retracement levels in H1 chart.

  • Sell below the level of 1.2195 which represents the minor resistance in H1 chart with the first target at 1.1920. Then, the trend will be able to continue towards the level of 1.1855 in order to form a new double bottom. Also, it should be noted that the weekly support 1 coincides with the price of 1.1854. Nevertheless, the stop loss should be set at the level 1.2028.



eurusdh1.png


Notes :



  • We expect a range about 248 pips this week.

  • The risk of 62 pips must make a profit of 248 pips.

  • The value of 00% Fibonacci retracement levels is 1.2000.

  • The weekly pivot point will be set at the price of 1.2074.

  • The level of 1.2074 will confirm the bullish market.


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

Weekly technical levels for GBP/USD for January 5-9, 2015

Weekly technical levels for the GBP/USD pair in the new year of 2015.


1420413655_gbpusd_pp.png

Review :



  • The key level is likely to set at the level of 1.5326. Also, it should be noted that the level of 1.5326 represents the double bottom.

  • The support of the GBP/USD pair has already set at 1.5131.

  • Moreover, the weekly support 2 will set at the same level and support 1 is placed at 1.5228. If the trend fails to close below the level of 1.5326, it will be a good opportunity to sell below 1.5326 with the first target at 1.5230. Then it is seen to continue straight towards 1.5135 in the coming days.

  • So, we expect a new range about 210 pips this week.

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



gbpusdh1.png


Technical levels :



  • It should be noted that the price is seen to be moving between 1.5326 and 1.5135 today.

  • Projected high: 1.5326

  • Strong resistance (sell limit): 1.5320. Resistance will be at 1.5320/1.5326.

  • Current pivot: 1.5227

  • Breakout (sell stop): 1.5228. Support will be set at the price of 1.5228.

  • Projected low: 1.5131


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