GBP/USD intraday technical levels and trading recommendations for January 9, 2015

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Overview:


The GBP/USD pair has been moving downwards respecting the depicted bearish channel since mid-September when the ongoing channel was initiated.


Recently, the market failed to express a bullish breakout above the price level of 1.5760 (upper limit of the daily bearish channel).


Instead, an extensive bearish pressure was applied against the price levels of 1.5540-1.5560 (this breakdown was successfully executed on December 23).


A daily closure below the recent bottoms established around 1.5540-1.5560 rendered the previous consolidation range as a bearish flag pattern with projected target at 1.5300. The market has already pushed further below this level reaching down to 1.5030.


The key-support zone for today's movement is located at 1.5090-1.5100. Four-Hour fixation above price level of 1.5120 pauses the current bearish decline exposing price level of 1.5260, 1.5370 and 1.5410.


However, at such strong bearish trend, you should note that persistent fixation below 1.5100 signals more bearish tendency of the market, probably new lows below 1.5030 are going to be hit.


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Intraday technical levels and trading recommendations for GBP/USD for January 9, 2015

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Previously, the GBP/USD pair found temporary DEMAND around 1.5550 where many lows were established within a congestion zone back in November 2014.


A bearish breakout was expressed after successive unsuccessful attempts back in 2014.


A bearish flag pattern is obvious on the daily chart, similar to what happened back in October.


The final bearish target was expected to be the level of 1.5140 where the lower limit of the movement channel is located. This target got already reached yesterday.


Today, the GBP/USD pair is currently showing some bullish recovery off the price level of 1.5050 supported by the positive UK Manufacturing production data that emerged today.


gbpusd4h.jpg


Consolidation movement ranging between the price levels of 1.5770 and 1.5550 represented the state of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.


As anticipated, the bearish breakout below 1.5550 directly exposed lower targets. The bears have already reached the price level of 1.5050 that hasn't been hit since August 2013.


A potential projection target for the flag continuation pattern was expected to be located around 1.5100, where the lower limit of the current movement channel is roughly located.


Conservative traders should wait for a bullish pull-back towards the recent SUPPLY zone around 1.5480-1.5550 for a low-risk SELL entry. The stop loss should be located above 1.5560.


Note that the price level of 1.5480 corresponds to 50% Fibonacci level as well as multiple previous bottoms established back in December.


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Intraday technical levels and trading recommendations for EUR/USD for January 9, 2015

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The EUR/USD pair continued to move lower after breaking below the major DEMAND LEVEL at 1.2250 exposing price levels of 1.2120 and 1.2000 .


Further actions from the ECB regarding QE are still doubted. The market expected the US Non-Farm Employment indicator to drop. Eurozone manufacturing release wasn't that good today. All these reasons led to the current negative EUR/USD pair sentiment.


The euro has lost almost 200 pips since 2015 started, as the market is pushing towards its lowest levels since December 2009.


eur4h.jpg


The market currently looks oversold below price level of 1.2000 and 1.1950 (prominent psychological SUPPORT & the lower limit of the movement channel on the 4H chart).


Currently, selling the EUR/USD pair is considered a high-risk position at such historically low prices. Bullish pullback should be anticipated looking for better prices to sell the pair off.


The price level of 1.1950 is the recently established SUPPLY level. Intraday short positions can be taken there, provided that the market keeps trading below price level of 1.2000.


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Analysis of EUR/NZD for January 09, 2014

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Overview:


In our last analysis, EUR/NZD was trading sideways around the price of 1.5080. According to the H1 time frame, we can observe supply in a ultra high volume (selling climax), which is a sign that selling EUR/NZD around the price of 1.5080 looks risky. Our Fibonacci expansion 100% at the price of 1.5400 got broken so we may see a potential testing of the level of 1.4950 (Fibonacci expansion 161.8%). Be careful when selling at this stage but watch for potential selling opportunities after retracement (after bullish correction). Yesterday we got supply in a volume above the average and very weak reaction from buyers.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5195


R2: 1.5236


R3: 1.5304


Support levels:


S1: 1.5059


S2: 1.5018


S3: 1.4950


Trading recommendations: Be careful when selling the EUR/NZD pair at this stage, since we can observe selling climax according to the 1H time frame.




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Analysis of EUR/NZD for January 09, 2014

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EURNZDH109.png


Overview:


In our last analysis, EUR/NZD was trading sideways around the price of 1.5080. According to the H1 time frame, we can observe supply in an ultra-high volume (selling climax), which is a sign that selling EUR/NZD around the price of 1.5080 looks risky. Our Fibonacci expansion 100% at the price of 1.5400 got broken so we may see a potential testing of the level of 1.4950 (Fibonacci expansion 161.8%). Be careful when selling at this stage but watch for potential selling opportunities after retracement (after bullish correction). Yesterday we got supply in a volume above the average and very weak reaction from buyers.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5195


R2: 1.5236


R3: 1.5304


Support levels:


S1: 1.5059


S2: 1.5018


S3: 1.4950


Trading recommendations: Be careful when selling the EUR/NZD pair at this stage, since we can observe selling climax according to the 1H time frame.




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Technical analysis of #USDX for January 9, 2015

The Dollar index is showing signs of a short-term reversal as I mentioned in my yesterday's analysis. The Dollar index is expected to pull back towards 91.50, but I believe the long-term uptrend is not over yet and we should expect this move to continue towards 94-95.


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Blue line = support trend line


Red line = expected path of price


The Dollar index is showing some signs of a short-term top. The trend remains bullish but I would expect a pullback towards the 38% retracement and towards the Ichimoku cloud and the blue support trendline. This pullback is only a corrective part of the bigger uptrend and, as the red lines show, I expect this pullback to be followed by a new upward move towards new highs.


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The weekly chart remains fully bullish. There are some signs of a possible top, but I believe it will be only a short-term top. Important weekly support is found at 89.90. The longer-term target of the Dollar index is at 94-95.




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Technical analysis of gold for January 9, 2015

Gold price remains inside the trading range of $1,220 and $1,190 forming a sideways contracting triangle. The trend is neutral. Traders should better be patient and wait for a break out. Possible targets are $1,270 or $1,130 depending on the direction of the break.


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Red lines = sideways wedge


In the short-term chart we observe the neutral trend the gold price is currently in. Price has entered the Ichimoku cloud which has become very thin. This is a sign that we will soon see a breakout. If it breaks above $1,218-$1,220 then I expect gold to rally towards at least $1,240. If this level is broken, then gold is likely to reach $1,270. If on the other hand gold price breaks below $1,185, then we should expect a test of the lows at $1,130.


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Blue lines = contracting triangle


In the daily chart as shown above, we observe the medium-term trend being neutral as gold price is moving sideways inside a triangle. This consolidation does not help traders as there are many overlapping moves that confuse short-term traders. Best strategy is to wait for a breakout, or buy near support of $1,180, or sell near resistance of $1,235.




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Technical analysis of USD/CAD for January 9, 2015

General overview for 09/01/2015 10:30 CET


The market is trading inside of the intraday trading range between the levels of 1.1795 - 1.1872 and it is still developing the suggested triangle pattern in intraday wave -iv- of the overall impulsive wave progression. The orange rectangle area is still valid as a projected target zone and the price is expected to at least touch it before any meaningful correction will happen. Please notice that the market is still in the bullish zone and only a breakout below the weekly pivot at the level of 1.1752 would temporary change the intraday bullish outlook.


Support/Resistance:


1.1935 - WR1


1.1897 - 1.1912 - Projected Target Zone for Wave 5 Purple


1.1872 - Intraday Resistance


1.1795 - Intraday Support


1.1753 - Weekly Pivot


Trading recommendations:


There is one more wave needed to complete the wave progression to the upside. The target is still the orange rectangle zone between the levels of 1.1897 - 1.1912. After hitting this target zone, the price should reverse downside in a counter-trend internal corrective cycle.


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Technical analysis of EUR/JPY for January 9, 2015

General overview for 09/01/2015 10:10 CET


The market is trading inside of the intraday trading range between the levels of 140.54 - 141.63, possibly waiting for today's Non Farm Payrolls data to show the direction. The bias is bullish as the corrective wave progression in wave 2 red to the downside looks completed and the impulsive rebound can happen anytime now. First major intraday resistance is at the level of 141.63 and any breakout higher will directly expose the next resistance at the level of 143.17.


Support/Resistance:


140.54 - WS2


141.65 - Intraday Resistance


141.95 - WS1


143.18 - Intraday Resistance


144.10 - 144.42 - Gap Zone


144.58 - Weekly Pivot


145.57 - Technical Resistance


146.22 - WR1


Trading recommendations:


There is not much of the impulsive wave progression to the upside so far but the buy orders opened a couple a days ago should still be kept open as the market is awaiting the NFP news release. SL below the level of 140.54 and TP at the level of 144.42. The next good level to add to existing positions is at the level of 143.17


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Elliott wave analysis of EUR/NZD for January 9, 2015

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Technical summary:


Blue wave iii has extended deeper towards the 200% extension target of blue wave i. We expect blue wave iv to start any time now for correction to at least 1.5341 and maybe even slightly higher to 1.5454 before blue wave v lower takes over for the decline to 1.4966, which marks the July 2012 bottom.


Trading recommendation:


We will be looking for a EUR selling opportunity near 1.5450, once blue wave iv starts to unfold.


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Elliott wave analysis of EUR/JPY for January 9, 2015

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Technical summary;


The correction we were looking for ended at 142.73 against our ideal target at 142.78 before turning lower again towards the ideal downside target at 140.12. Once the ideal downside target at 140.12 has been tested, we think the risk will shift towards the upside for a new impulsive rally to above the top at 149.78, but first let's focus on finishing the downside near 140.12.


Trading recommendation:


We will buy EUR at 140.25 with a stop placed at 139.60.


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Technical analysis of USD/JPY for January 09, 2015

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Fundamental overview:
USD/JPY is expected to consolidate with a bullish bias after hitting a three-day high of 119.97 on Thursday as markets await 1330 GMT U.S. December non-farm payrolls (expected to have increased by 240,000) and unemployment rate (expected to have slipped to 5.7% from November's 5.8%). USD/JPY is underpinned by the yen-funded carry trades amid positive risk sentiment (VIX fear gauge eased 11.91 to 17.01; S&P 500 closed up 1.79% at 2,062.14 overnight) as expectations of continued accommodative monetary policy from major central banks stoked investor risk appetite. USD/JPY is also supported by the positive dollar sentiment (ICE spot dollar index hit nine-year high 92.528 Thursday, last at 92.31 versus 92.02 early Thursday), higher U.S. Treasury yields (10-year at 2.013% versus 1.952% late Wednesday), demand from Japan importers and the Bank of Japan's large-scale monetary easing policy. But the USD sentiment is dented by more-than-expected 294,000 U.S. jobless claims in a week ended Jan. 3 (versus forecast 290,000), less-than-expected $14.08 billion increase in U.S. November consumer credit (versus forecast +$15.0 billion). USD/JPY gains are also tempered by Japanese exports and positions adjustment ahead of the long weekend in Japan (financial markets in Japan are shut on Monday for a public holiday).


Technical comment:
The daily chart is mixed as MACD is bearish, the five-day moving average is below the 15-day moving average and declining but stochastics turned neutral.


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 the pivot point. Short positions are recommended with the first target at 118.5. A break of this target will move the pair further downward to 118.05. The pivot point stands at 119.50. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 119.95 and the second target at 120.3.


Resistance levels:

119.95

120.3

120.65

Support levels:

118.50

118.05

117.75


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Technical analysis of NZD/USD for January 09, 2015

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Fundamental overview:
NZD/USD is expected to consolidate in a higher range as markets await the U.S. non-farm payrolls report. The kiwi sentiment is boosted by a 10.0% increase in New Zealand's November building consents (versus October's +8.8%). NZD/USD is also supported by firmer dairy prices, the kiwi demand on the buoyant NZD/JPY cross amid positive risk sentiment and the kiwi demand on the soft AUD/NZD cross and NZD-USD interest differential. But NZD/USD gains are tempered by the positive dollar sentiment and positions adjustment ahead of weekend.


Technical comment:


The daily chart is mixed as MACD and stochastic are indicators in a bullish mode but five and 15-day moving averages are meandering sideways.


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 0.7850 and the second target at 0.7890. In an alternative scenario, if the price moves below its pivot points, short posisitions are recommended with the first target at 0.7720. A break of this target would push the pair further downward and one may expect the second target at 0.7680. The pivot point is at 0.7755.


Resistance levels:

0.7850

0.7890

0.7945



Support levels:


0.7720

0.7680

0.7650


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Technical analysis of GBP/JPY for January 09, 2015

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Fundamental overview:
GBP/JPY is expected to consolidate with bearish bias as markets await the U.S. non-farm payrolls report. GBP/JPY is supported by the positive risk sentiment and demand from Japan importers. But GBP/JPY upside is limited by the weak euro sentiment, Japan exporter sales and positions adjustment ahead of the long weekend in Japan.


Technical comment:
The daily chart is still negative-biased as MACD is bearish, stochastics stays suppressed at oversold levels, five and 15-day moving averages are declining.


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 the pivot point. Short positions are recommended with the first target at 179.60. A break of this target will move the pair further downward to 179. The pivot point stands at 181. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 181.70 and the second target at 182.70.


Resistance levels:

181.70

182.70

183.65


Support levels:

179.60

179

177.10


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Daily analysis of USDX for January 09, 2015

On the daily chart, it seems that the USDX is trying to form a bullish pattern, because the volume of trading this instrument has decreased in the last few hours, so the USDX could conduct a retracement below the psychological level of 92.00. For now, the resistance level of 93.44 remains the bullish target.


Dailychart's resistance levels: 93.44 / 96.59


Dailychart's support levels: 90.40 / 88.63


USDXDaily.png

The USDX has consolidated above the support level of 92.08, because this instrument has not been able to make a breakout at the level of 92.51. Today, depending on the publication of the first U.S NFP of the year, it is likely that the USDX will start moving in a low range to try to form a solid bullish pattern.


H1 chart's resistance levels: 92.51 / 92.92


H1 chart's support levels: 92.08 / 91.66


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 92.51, take profit is at 92.92, and stop loss is at 92.08.


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Daily analysis of GBP/USD for January 09, 2015

The GBP/USD has not yielded to the force of the bulls on the daily chart, because this pair continues to form bearish candlesticks and is also trying to find a solid bottom to begin to form a lower low pattern. On the downside, the support level of 1.5015 remains the next goal The MACD indicator remains in negative territory.


Dailychart's resistance levels: 1.5159 / 1.5266


Dailychart's support levels: 1.5015 / 1.4894


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On the H1 chart, GBP/USD has moved into a range below the resistance level of 1.5110. For now, the GBP/USD remains strong in the bearish bias on a short-term basis, but this could change if the pair makes a breakout of the resistance level of 1.5146 and rises to the level of 1.5200. The MACD indicator is entering neutral territory.


H1 chart's resistance levels: 1.5110 / 1.5146


H1 chart's support levels: 1.5074 / 1.5018


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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 1.5074, take profit is at 1.5018, and stop loss is at 1.5131.


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Technical analysis of EUR/JPY for January 09, 2015


Technical outlook and chart setups:


The EUR/JPY is stalling at 141.00 levels for now and could drop to 140.00 before resuming its rally again. Please note that 140.00 level is valid if there is also fibonacci 0.618 support of the rally from 134.00 to 149.80 levels respectively. It is recommended to remain long for now and also look to add further at 140.00 levels if prices manage to reach there. Risk remains at 139.00 levels. Immediate support is seen at 140.00 (fibonacci), followed by 137.00 and lower, while resistance is seen at 145.00 levels, followed by 147.00, 148.00 and 149.80 respectively. A push through the 145.00/146.00 levels would accelerate further bullish run towards fresh highs.


Trading recommendations:


Remain long for now. The stop is at 139.00 and the target is open.


Good luck!




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Technical analysis of EUR/USD for January 09, 2015

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When the European market opens, some economic news will be released such as French Trade Balance and Industrial Production m/m reports as well as German Trade Balance and Industrial Production m/m data.The US will release its economic data too such as Wholesale Inventories m/m, Average Hourly Earnings m/m, Unemployment Rate, and Non-Farm Employment Change. So amid the reports, EUR/USD will move medium to high volatility during this day.


Today's technical levels:


Breakout BUY Level: 1.1851.


Strong Resistance:1.1844.


Original Resistance: 1.1833.


Inner Sell Area: 1.1822.


Target Inner Area: 1.1794.


Inner Buy Area: 1.1766.


Original Support: 1.1755.


Strong Support: 1.1744.


Breakout Sell Level: 1.1737.


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 09, 2015

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In Asia, Japan will release its Leading Indicators data, while the US will disclose its Wholesale Inventories m/m, Average Hourly Earnings m/m, Unemployment Rate, and Non-Farm Employment Change data. So there is a big probability USD/JPY will move with low volatility during the Asian session, but with high volatility during the US session.


Today's technical levels:


Resistance. 3: 120.11.


Resistance. 2: 119.87.


Resistance. 1: 119.64.


Support. 1: 119.35.


Support. 2: 119.12.


Support. 3: 118.88.


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 GBP/CHF for January 09, 2015


Technical outlook and chart setups:


The GBP/CHF pair had risen into 1.5380 levels before pulling back towards 1.5350 levels. The pair is either poised to rally further from current levels or probably drop into the 1.5200 levels and then resume its rally. In either scenario, it is recommended to hold long positions for now and also look to add further if prices reach the 1.5200 levels. Risk remains at 1.5150 for now. Please also note that 1.5200 is the fibonacci 0.618 support of the rally from 1.5000 to 1.5525, and hence more significant for a bullish turnaround. Immediate support now is at 1.5250 (interim), followed by 1.5200 and lower, while resistance is seen at 1.5400 levels followed by 1.5520 respectively.


Trading recommendations:


Remain long for now. The stop is at 1.5150, and the target is open.


Good luck!




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Technical analysis of silver for January 09, 2015


Technical outlook and chart setups:


Silver has paused its rally around $16.40/50 levels as seen here. A drop at least towards $16.00 or $15.90 levels is expected before the rally resumes. Please note that $16.00 was resistance earlier, which could act as support now, if prices manage to reach there. It is recommended to remain flat for a while and look to enter buying on a drop from here. Immediate support is seen at $16.00, followed by $15.80/90, $15.50 and lower, while resistance is seen at $17.40/50, $17.80/18.00 and higher respectively. Only a drop below $15.50 and subsequently $14.50 could be a worry for the bullish setup.


Trading recommendations:


Remain flat for now. Look to buy lower.


Good luck!




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Technical analysis of gold for January 09, 2015


Technical outlook and chart setups:


A daily chart view has been depicted here again for a larger view of wave structures. Gold had bounced off the support from $1,170.00 levels and reached $1,220.00/23.00 levels before pulling back. At the moment, the metal can be seen testing a dropping resistance trendline. A bullish bounce from current levels could possibly push the metal higher into $1,235.00 and higher levels. Another possibility still remains for a drop into $1,190.00 levels before rallying further. It is recommended to remain flat for 1-2 days and watch out for a reaction at the trendline. Immediate support is at $1,200.00 levels followed by $1,190.00 and lower while resistance is seen at $1,235.00 levels, followed by $1,255.00 and higher respectively.


Trading recommendations:


Remain flat for now. Look to buy lower.


Good luck!




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Technical analysis of EUR/USD for January 9, 2015

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Overview :



  • The EUR/USD pair is in the short term.

  • The price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.1840. Moreover, it should be noted that the level of 1.1863 is representing a double top today. Accordingly, it will be a good sign to sell below the double top at 1.1863 with the first target of 1.1755. Then, if the price breaks the level of 1.1755, it will call for a downtrend market in order to continue its bearish movement towards 1.1710 (to form a new double bottom point at this area). Equally important, the resistance would set at the 1.1840 level. Additionally, it should be noted that today's range will be about 85 pips (1.1840 - 1.1755) at least. However, the stop loss should be placed below the double top at the price of 1.1893, so the stop loss should be set in 30 pips since the risk of 30 pips could make profit of 60 pips.


Observations :



  • The EUR/USD pair called for the bearish market from the price of 1.1840 towards the level of 1.1796; but the EUR/USD pair recovered again to start going upwards close to 1.1805 yesterday.

  • The support will set at the level of 1.1755, but the new double bottom is going to set at 1.1710 today.

  • The minor resistance has set at 1.1840; and the price of 1.1863 is representing strong resistance.

  • We expect volatility of more than 209 pips today. As a rule, the market is highly volatile if the last day had huge volatility.

  • If the trend is of a downside character, then the strength of the currency will be defined as following: EUR is in a downtrend and USD is in an uptrend.


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Technical analysis of GBP/USD for January 9, 2015

gbpusdh4.png

Overview :



  • Bearish outlook for January 9, 2015.

  • According to the previous events, the price of GBP/USD pair has still been trapped between 1.5178 and 1.5041. The level of 1.5178 is representing strong resistance. Also, it should be noted that the price of 1.5178 is coinciding with the ratio of 23.6% Fibonacci retracement levels. The minor support has set at the level of 1.5041 (it represents the double bottom). Hence, we expect a range about 85 pips. Therefore, the market is going to call for a downtrend from the level of 1.5178. Thus, sell below the level of 1.5178 in the short term with the first target of 1.5041. It could resume to 1.5003 if the trend is able to break the 1.5041 level.



Observations :



  • Major support will set at 1.4936.

  • The level of 1.5083 is representing the daily pivot point.

  • Major resistance has already set at the price of 1.5178.

  • It should be noted that the weekly range is not very large this week.

  • According to our statistics, the range was between 65 pips and 93 pips daily.



Note :



  • Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account. Fibonacci is in a range trade; it looks like the trend is trapped and going up or down. If you sell or buy in the long term in this period, you will surely lose your profit.



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Daily analysis of Silver for January 08, 2015

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Overview


As shown on the today's H4 chart, the metal is stabilizing below the Resistance level of 16.50 after its failure to break the Support area today. Currently, we should wait for closing below the Support level of 16.00 and closing below to get the bearish move opportunity. In that case, we will get a good chance to sell below the Support level till the price tests the next Support level of 15.50. Therefore, we can consider our first target few pips above this Support level, but as long as the price is above the Support area and the upward trendline, this cancels the bearish move scenario.


Resistance and support levels: R3 (17.00), R2 (16.75), R1(16.50), S1 (16.00), S2 (15.50), S3 (15.20)




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Daily analysis of GBP/JPY for January 08, 2015

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Overview


According to our yesterday's forecast, more bullish signals are expected in case of closing above the Resistance level of 180.00. Today, as it is shown in the H4 chart, the pair has already managed to break the Resistance level and close 4H above it. Currently, the pair is approaching the Resistance level of 181.00 trying to break it through to continue the upward move. More bullish signals are in case of closing 4H above this Resistance level with the first target few pips below the Resistance level of 181.70 then 182.50 as the second target.


Resistance and Support levels: R3 (182.50), R2 (181.70), R1 (181.00), S1 (180.00), S2 (179.30), S3 (179.00)




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