Technical analysis of AUD/NZD for November 25, 2016

AUD/NZD is clearly trending upwards and trading within the ascending channel. Today the pair rejected the lower trend line on the channel while prior to the break of the 200 Moving Average and after rejected it as well.

Consider buying AUD/NZD at the current rate 1.0560, targeting 161.8% Fibs (1.0650) applied to the current corrective wave down. The suggested stop loss is just below the 200 Moving Average 1.0530.

Support: 1.0550

Resistance: 1.0610, 1.0650

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Technical analysis of NZD/USD for November 25, 2016

NZD/USD moving lower rejecting the downtrend trend line as well as the 200 Moving Average. This might suggest that it is facing strong resistance area and sellers could start dominating once again at this point.

Consider selling NZD/USD at the current rate (0.7040), targeting either 161.8% (0.6925), 261.8% (0.6825) or 361.8% Fibs (0.6726). Suggested stop loss is 0.7085.

Support: 0.6985, 0.6925, 0.6825

Resistance: 0.7085

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Technical analysis of EUR/GBP for November 25, 2016

EUR/GBP continues declining. The broke 200 Moving Average to trade below it. The pair rejected the downtrend trend line and seems to be ready to continue moving lower.

EUR/GBP broke below the 161.8% Fibs (0.8480) and now next potential downside targets are 261.8% (0.8340) or 361.8% (0.8200)

Consider selling EUR/GBP near the 200 Moving Average, targeting either 0.8340 or 0.8200 levels corresponding with Fibonacci retracement. Suggested stop loss is 0.8690.

Support: 0.8480, 0.8340, 0.8200

Resistance: 0.8567

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Technical analysis of gold for November 25, 2016

The price has made a push down to our perfect buying area. We remain bullish above our major support at 1170.48 (Fibonacci projection, Fibonacci retracement) and we expect a push up from here towards at least previous major resistance at 1203.14 (Fibonacci retracement, horizontal pullback resistance).

Stochastic (21,5,3) is seeing bullish divergence vs the price signalling a bullish reversal is impending.

Buy above 1170.48. Stop loss at 1155.51. Take profit at 1203.14.

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Technical analysis of NZD/USD for November 25, 2016

The price is back to our buying level, which is major support at 0.6990 (Fibonacci projection, Fibonacci retracement, recent swing low support) where we expect a bounce to at least 0.7090 (recent swing high resistance, Fibonacci retracement).

The RSI (34) is also seeing a bounce from support at 36% and bullish divergence vs the price signalling a bullish reversal is approaching.

Buy above 0.6990. Stop loss at 0.6949. Take profit at 0.7090.

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Technical analysis of AUD/NZD for November 25, 2016

The price is at major resistance at 1.0596 (Fibonacci retracement, horizontal resistance) where we expect a reaction from and a drop to at least 1.0477 (Fibonacci retracement, horizontal overlap support).

Stochastic (21,5,3) is also seeing major resistance from our 94% level.

The RSI (34) is also seeing major resistance from the 64% level where our previous major reversal occurred.

Sell below 1.0596. Stop loss at 1.0661. Take profit at 1.0477.

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Technical analysis of AUD/USD for November 25, 2016

The price is right at our selling area again. We remain bearish below the 0.7419 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to 0.7311.

The RSI (34) has made a pullback to previous support and has reacted well off it.

Sell below 0.7419. Stop loss at 0.7516. Take profit at 0.7311.

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Gold analysis for November 25, 2016

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Since our previous analysis, gold has been trading sideways at the price fo $1,187.20. Using the market profile analysis, I found a point of control at the price of $1,186.30. Anyway, I found the upward trend line and the price broke it, which is a sign of weakness. Watch for selling opportunities. The first downward target is set at the price of $1,171.00 (swing low).

Fibonacci pivot points:

Resistance levels:

R1: 1,189.20

R2: 1,191.70

R3: 1,195.60

Support levels:

S1: 1,181.20

S2: 1,178.70

S3: 1,174.60

Trading recommendations for today: Breakout of upward trend line. Watch for selling opportunities.

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EUR/NZD analysis for November 25, 2016

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Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5019 in a high volume. Using the market profile on the M30 time frame, I found that the price rejected from strong point of control at 1.5115 in the background. The price is trading below 21SMA, which is a sign of weakness. I placed Fibonacci expansion to find potential downward targets. The first downward target is set at the price of 1.5000; and the second, at 1.4980. The second possible scenario for EUR/NZD sideways trading near the level of 1.5040.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5100

R2: 1.5125

R3: 1.5160

Support levels:

S1: 1.5030

S2: 1.5015

S3: 1.4975

Trading recommendations for today: Watch for a potential downside or try to trade in the range.

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Technical analysis of USD/JPY for November 25, 2016

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USD/JPY is expected to extend its upside movement. The pair broke above its former key resistance at 112.15, which is now playing a support role. The upward momentum is further reinforced by the ascending 20-period and 50-period moving averages. The relative strength index is still above its neutrality level at 50, and lacks downward momentum. Thus as long as 112.15 remains support, look for a further upside toward 113.75 and even to 114.30 as possible.

Trading Recommendation: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 113.75 and the second one at 114.30. In the alternative scenario, short positions are recommended with the first target at 110.75 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 110.75. The pivot point lies at 112.15.

Resistance levels: 113.75, 114.30, 115.00

Support levels: 111.30, 110.75, 110.20

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Global macro overview for 25/11/2016

Global macro overview for 25/11/2016:

The IFO Business Climate data were released yesterday and it remained unchanged for the reported month. According to the Institute for Economic Research in Munich, the Business Climate Index came in at 110.4, just as a month ago and 0.2 points lower than expected. The Business Expectations Index, which tracks sentiment in the next six months, declined to 105.5 during the reported period from 105.9 in October, while the market analysts expected a slight increase to 106.00 points. The last sub-index, the Current Assesment, was released slightly better than expected at the level of 105.6, a 0.5 point better than a month ago. In conclusion, the released data suggest that executives remain positive about the country's economic growth, despite the uncertainties hanging over Brexit negotiations and Donald Trump's presidency.

Let's now take a look at the EUR/USD technical picture at the 4H time frame. The positive divergence between the price and the momentum oscillator is making the pair to bounce and challenge the next important resistance at the level of 1.0665. Only a sustained break out above this level will confirm the temporary bullish relief rally is in place.

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Technical analysis of NZD/USD for November 25, 2016

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NZD/USD is expected to trade with a bullish outlook. The pair is trading around its 20-period and 50-period moving averages and is holding on the upside. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Additionally, 0.6970 represents a significant key support level, which should limit the downside potential. As long as this key level is not broken, look for a further upside toward 0.7090. A break above this level would call for a further advance toward 0.7110.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.7090 and the second one at 0.7110. In the alternative scenario, short positions are recommended with the first target at 138.70, if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6920. The pivot point lies at 0.6970.

Resistance levels: 0.7090, 0.7110, 0.7140

Support levels: 0.6950, 0.6920, 0.6885

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Technical analysis of USD/CHF for November 25, 2016

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USD/CHF is expected to trade in a lower range as the bias remains bearish. The technical picture of the pair is bearish, as the pair has struck against the horizontal resistance at 1.1095. The relative strength index lacks upward momentum. Even though a continuation of the rebound cannot be ruled out, its extent should be limited.

Hence, as long as the pair stands below the resistance at 1.0195, expect a new drop to the targets at 1.0090 and 1.0060 in extension.

Resistance levels: 1.0220, 1.0250, 1.0295

Support levels: 1.0090, 1.0060, 1.0025

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Global macro overview for 25/11/2016

Global macro overview for 25/11/2016:

The second estimate of the UK GDP has been released this morning and it was in line with expectations. The third quarter GDP was estimated at the level of 0.5% on a monthly basis and 2.3% on yearly basis. The revised prints confirmed the flash estimates. Moreover, the Business Investment data for the third quarter beat the market expectations of a -0.2% decline after 1.0% increase last time. This time the data were released at the level of 0.9%, almost the same as the prior reading. In conclusion, since June 2016, the UK economy has revealed robust performance with economic indicators from various sectors better than expected, despite the fact that the pound sterling has plunged 16 percent over that period. The UK economy has weathered the post-Brexit period fairly well, but we need to remember there are serious concerns that the actual exit from the European Union will take a heavy toll on the British economy later.

Let's now take a look at the GBP/USD technical picture in the 4H time frame. The market has bounced from the major support at the level of 1.2334, but bulls did not manage to break out above the technical resistance at the level of 1.2511 and currently the market is trading in a congestion zone between those two levels. Market participants should now wait for a breakout in either direction.

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Technical analysis of GBP/JPY for November 25, 2016

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GBP/JPY is expected to trade with a bullish bias. The pair stands firmly above its rising 20-period and 50-period moving averages. The relative strength index holds above its neutrality level at 50. Additionally, 118.45 represents a significant key support level, which should limit the downside potential. As long as this threshold is not broken, look for further advance toward 142.40 and even to 143.25 as possible.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 142.40 and the second one at 143.25. In the alternative scenario, short positions are recommended with the first target at 138.70, if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 137.25. The pivot point lies at 139.60.

Resistance levels: 142.40, 143.25, 144.10

Support levels: 138.70, 137.25, 136.25

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Technical analysis of USD/CAD for November 25, 2016

General overview for 25/11/2016:

The market has broken below the dashed blue trend line and now is trading below the weekly pivot at the level of 1.3497. In case of a further move to the downside, the intraday support is the key level for daytraders as any breakout below it will confirm the wave c (green) is in progress. The projected target zone for the wave c (green) is the demand zone between the levels of 1.3290 and 1.3312.

Support/Resistance:

1.3596 - WR1

1.3566 - Intraday Resistance

1.3497 - Weekly Pivot

1.3419 - WS1

1.3378 - Intraday Support

1.3308 - WS2

Trading recommendations:

The corrective upward wave progression is about to be completed, so this is why daytraders should consider opening only sell orders with tight SL and TP open for now.

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Technical analysis of EUR/JPY for November 25, 2016

General overview for 25/11/2016:

The projected target level for wave (iii) has been hit and now the market should start to develop the internal corrective cycle labeled as the wave (iv). The projected target for this wave is at the level of 118.47 and the most common pattern of this correction is a triangle. When the correction is completed, one more higher high is anticipated in this market.

Support/Resistance:

120.14 - Intraday Resistance

119.93 - 161% Fibonacci Extension

119.00 - Intraday Support

118.97 - WR2

118.47 - WR1

116.99 - Weekly Pivot

116.49 - WS1

116.24 - Local Low

Trading recommendations:

Day traders should consider opening only buy orders on the dips with tight SL and TP open for now.

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Elliott wave analysis of EUR/NZD for November 25, 2016

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Wave summary:

We are still looking for a firm break above the minor resistance line near 1.5090 to confirm the next rally higher to the ending diagonal resistance line near 1.5365 and above here. Such developments will call for a continuation higher to 1.5730 and above. As long as the minor resistance line is able to protect the upside, we need to allow for more consolidation in the 1.4980 - 1.5090 area.

Trading recommendation:

We are long EUR from 1.5000 with stop placed at 1.4950. If you are not long EUR yet, then buy a break above 1.5090 and use the same stop at 1.4950.

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Elliott wave analysis of EUR/JPY for November 25, 2016

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Wave summary

Red wave iii most likely peaked with the test of 120.16. A correction towards at least 118.64 and likely even closer to 117.69 should now be expected in red wave iv before red wave v takes over for the next rally higher towards 122.00. Short term, a break below 119.15 confirms that red wave iii is complete and that red wave iv now is unfolding for a corrective decline.

Trading recommendation:

We are long EUR from 115.04 and will move our stop higher to 119.10. We will re-buy EUR at 117.75 and place the stop at 117.25.

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Technical analysis of USD/CHF for November 25, 2016

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Overview:

  • The bias remains bullish in the nearest term testing 1.0195 or 1.0272.
  • Currently, the price is moving in a bullish channel. The major resistance is seen at the price of 1.0272. However, the support is seen at 0.9996. We expect a range between the levels of 0.9996 and 1.0270. The USD/CHF pair didn't make any significant movements yesterday. There are no changes in our technical outlook.
  • This is confirmed by the RSI indicator signaling that we are still in a bullish trending market as the price is still above the moving average (100).
  • The USD/CHF pair faced resistance at the level of 1.0195, while minor resistance is seen at 1.0121.
  • Support is found at the levels of 1.0121 and 0.9996. The USD/CHF pair continued to move upwards from the level of 1.0121.
  • The pair rose from the level of 1.0121 to the top around 1.0163. Afterwards, the USD/CHF pair broke resistance, which turned into strong support at the level of 1.0121.
  • Today, the level of 1.0121 is expected to act as major support.
  • Hence, we expect the USD/CHF pair to continue moving in the bullish trend from the support level of 1.0121 towards the target level of 1.0195. If the pair succeeds in passing through the level of 1.0195, the market will indicate the bullish opportunity above the level of 1.0195 in order to reach the second target at 1.0272 to form a new double top in the H4 time frame.
  • Thus, the trend will probably continue its uptrend today as long as the level of 0.9996 is not breached. On the other hand, if the USD/CHF pair fails to break through the resistance level of 1.0272 today, the market will decline further to 1.0121.
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Technical analysis of NZD/USD for November 25, 2016

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Overview:

  • The NZD/USD pair has faced strong support at the level of 0.6970. So, the strong support have already been faced at the levels of 0.6970 and 0.7021. The pair is likely to try to approach it in order to test the price of 0.7021 again. The level of 0.7021 represents a weekly pivot point for that it is acting as minor support this week. Furthermore, the NZD/USD pair keeps trading in a bullish trend from the new support levels of 0.7021 and 0.6970. Currently, the price is in a bullish channel. According to the previous events, we expect the EUR/USD pair to move between 0.6970 and 0.7073.Besides, it should be noticed that the double top is set at 0.7136. This suggests the pair will probably go up in coming hours. Accordingly, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 0.7021 with the first target at the level of 0.7073. If the trend is able to break the double top at the level of 0.7073, then the market will continue rising towards the weekly resistance 2 at 0.7136. On the other hand, it should be noted that the RSI is still signaling that the trend is upward as it remains strong above the moving average (100). Hence, stop loss should always be taken into account, accordingly, it will be beneficial to set the stop loss above the last bullish wave at the level of 0.6930.
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Technical analysis of USDX for November 25, 2016

The Dollar index is showing short-term reversal signs. A pullback is justified from current levels. A long-term trend remains bullish as long as price is above 97-96. Long-term resistance was reached at 102 and price got rejected.

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Black line - support (broken)

The Dollar index has formed a short-term Head and Shoulders pattern and has already broken the neckline support. Price has already touched the lower cloud support and bounced off it. 101.30 is short-term support. Short-term resistance is at 101.60.

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Green line - long-term support trend line

Price is at an important weekly resistance level at 102. This is the long-term 61.8% Fibonacci retracement. This is very important resistance. A doji candle formation on the weekly chart could be formed today and this could be another signal for justifying a pull back. Bulls are in control as long as price is above the green trend line support.

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Technical analysis of gold for November 25, 2016

Gold price made a new low earlier this morning only to reach closer towards the long-term 61.8% Fibonacci retracement of the entire rise. Price is now bouncing and testing short-term resistance. Gold short-term trend remains in a bearish trend as long as price is below $1,195.

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Black line -short-term resistance

Gold price is testing resistance. Short-term trend remains bearish. There are divergence signs warning Gold bulls. A break above $1,195 could push Gold price towards $1,220. Support is at $1,170.

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On a weekly basis price has touched the lower cloud boundary and the 61.8% Fibonacci retracement. This is important support for Gold price. Next support is at $1,120-$1,118. I remain long-term bullish.The material has been provided by InstaForex Company - www.instaforex.com

USD/CAD intraday technical levels and trading recommendations for November 25, 2016

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On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations.

On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.

Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) was needed to enhance bearish momentum in the market.

However, on August 18 signs of bullish recovery were manifested around the price level of 1.2830 which led to the current bullish breakout above 1.3000.

The USD/CAD pair had been trapped between the price levels of 1.3000 (61.8% Fibonacci level) and 1.3360 (50% Fibonacci level) until bullish breakout took place three weeks ago.

Note that the USD/CAD pair was challenging the upper limit of the depicted flag pattern around 1.3360-1.3400 which failed to apply enough bearish pressure on the pair.

Bullish persistence above 1.3360 will probably liberate a quick bullish movement towards 1.3650 unless the pair comes to close below 1.3360 before the end of the current week.

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Intraday technical levels and trading recommendations for GBP/USD for November 25, 2016

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The price zone between 1.3845 and 1.3550 (historical bottoms set in January 2009) was considered a significant demand zone to be watched for bullish recovery.

However, by the end of June a significant bearish break below 1.3550 was expressed as seen on the depicted charts (fundamental reasons).

Bearish persistence below the demand level at 1.3550 enhanced the bearish scenario towards the current price levels around 1.2700 (nearest bearish projection target).

Note that the GBP/USD pair was trapped inside the depicted consolidation range above 1.2700 until a bearish breakout took place on October 6.

Daily persistence below 1.2700 confirmed the bearish Flag pattern. That's why, bearish projection target would be located around 1.2020.

Recently, bullish recovery was manifested around 1.2080. That is why, a bullish pullback was being executed towards 1.2700.

The recent bullish pullback towards 1.2700 was suggested to be watched for a valid SELL entry. The bearish engulfing candlestick of the previous week enhances this scenario.

S/L should be lowered to 1.2600 to offset the associated risk. T/P levels should be located at 1.2300 and 1.2100.

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Intraday technical levels and trading recommendations for EUR/USD for November 25, 2016

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In January 2015, the EUR/USD pair moved below the major demand level near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450.

In March 2015, the EUR/USD bears challenged the monthly demand level around 1.0570, which had been previously reached in August 1997.

Later in April 2015, a strong bullish recovery was observed around the mentioned demand level. However, next monthly candlesticks (September, October, and November) reflected a strong bearish rejection around the area of 1.1400-1.1500.

Again in February 2016, the depicted price levels around 1.1400-1.1500 acted as a significant supply zone during the bullish pullback.

That is why, recent bearish rejection was expected around the depicted supply levels (note the monthly candlesticks of May, August, and October 2016).

In the longer term, the level of 0.9450 will remain a projected bearish target when the current monthly candlestick comes to close below the depicted monthly demand level of 1.0570.

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The long-term outlook for the EUR/USD pair remains bearish as the monthly chart illustrates. Bearish persistence below 1.0825 is needed to enhance this bearish scenario.

In September 2016, temporary bullish breakout above 1.1250 was expressed again, but evident bearish pressure was applied on the EUR/USD pair on September 16.

Bearish closure below 1.1250 (supply level 1) maintained enough bearish pressure and enhanced the bearish momentum towards the price level of 1.1000 (key level 1).

On November 9, obvious bearish breakdown of the 1.1000 price level occurred (Shooting Star daily candlestick). Moreover, further bearish decline below 1.0825 (Fibonacci Expansion 100%) was expressed.

The current bearish persistence below 1.0825 allowed further bearish decline to occur towards 1.0570 (demand level) where price action should be watched for a possible BUY entry if enough bullish rejection is manifested.

The price level of 1.0825 (Fibonacci Expansion 100%) constitutes a recent supply level to be watched for a SELL entry if any bullish pullback occurs.

On the other hand, obvious bearish closure below the depicted demand level around 1.0570 is needed to allow further bearish decline. Initial bearish target would be located around 1.0220.

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NZD/USD Intraday technical levels and trading recommendations for November 25, 2016

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As long as the NZD/USD pair continued trading above 0.6860, further bullish advance was expected toward the upper limit of the depicted channel around 0.7400.

During August and September, a consolidation range was established from the price level of 0.7250 up to 0.7350.

Later on October 20, the lower limit of the consolidation range (0.7250) stood as a temporary resistance which initiated a bearish movement toward 0.7100 (the lower limit of the depicted channel).

Bullish recovery was expressed around the price level of 0.7100 on October 28. Hence, a double-bottom pattern was expressed on the chart.

Bullish fixation above 0.7250 and 0.7350 was needed to allow further bullish advance toward the projected target of the reversal pattern around 0.7450.

However, significant signs of a bearish reversal were expressed around the upper limit of the price range (0.7350).

The bearish breakdown of 0.7250 (lower limit of the depicted range) enhanced the bearish side of the market toward the price level of 0.7100 (recent bottom of October 28) which was broken as well.

Bearish persistence below 0.7100 allows quick bearish decline toward 0.6960 (BUY zone) where bullish rejection and a valid BUY entry should be expected. S/L should be placed below 0.6900.

On the other hand, any bullish pullback toward 0.7100 should be considered for selling the NZD/USD pair as it constitutes a recent resistance level to be considered. S/L should be placed above 0.7150.

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Technical analysis of EUR/USD for Nov 25, 2016

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When the European market opens, some Economic Data will be released, such as Italian Retail Sales m/m. The US will release the Economic Data, too, such as Flash Services PMI, Prelim Wholesale Inventories m/m, and Goods Trade Balance. So, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0604.

Strong Resistance:1.0597.

Original Resistance: 1.0587.

Inner Sell Area: 1.0577.

Target Inner Area: 1.0552.

Inner Buy Area: 1.0527.

Original Support: 1.0517.

Strong Support: 1.0507.

Breakout SELL Level: 1.0500.

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 Nov 25, 2016

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In Asia, Japan will release the BOJ Core CPI y/y, SPPI y/y, National Core CPI y/y, Tokyo Core CPI y/y and the US will release some Economic Data, such as Flash Services PMI, Prelim Wholesale Inventories m/m, and Goods Trade Balance. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 114.38.

Resistance. 2: 114.15.

Resistance. 1: 113.93.

Support. 1: 113.65.

Support. 2: 113.43.

Support. 3: 113.21.

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 EUR/USD for Nov 18, 2016

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When the European market opens, some Economic Data will be released, such as Current Account and German PPI m/m. The US will present the economic report, too, namely CB Leading Index m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.0665.

Strong Resistance:1.0659.

Original Resistance: 1.0648.

Inner Sell Area: 1.0637.

Target Inner Area: 1.0612.

Inner Buy Area: 1.0587.

Original Support: 1.0576.

Strong Support: 1.0565.

Breakout SELL Level: 1.0559.

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 November 25, 2016

EUR/USD: This price has mostly been consolidating this week. The EMA 11 is below the EMA 56, and the Williams' % Range is often in the oversold territory. There is a strong Bearish Confirmation Pattern in the 4-hour chart, and bears could push price further downwards toward the support lines at 1.0500, 1.0450 and 1.0400.

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USD/CHF: This is a bull market. Price is now above the support level at 1.0150, going toward the resistance levels at 1.0200 and 1.0250. Any corrections or pauses seen in this market would signal opportunities to buy long. The silence in this market would soon be broken by a rise in momentum, which would most probably favor bulls.

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GBP/USD: The GBP/USD is choppy and directionless, though the overall bias remains bearish (especially in the bigger timeframe). It is better to stay away from the market until a directional movement occurs to the upside or to the downside, by at least, 200 pips.

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USD/JPY: The USD/JPY has gone upwards by 270 pips this week, in one of the strongest bullish movements on popular JPY pairs. Since the low of November 9, price has gone upwards by 1220 pips, and bulls are still willing to push price further upwards within the next few trading days.

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EUR/JPY: This cross has gone upwards by 210 pips this week – having gone upwards by 590 pips since the low of November 9. The movement on the USD/JPY has been stronger than the movement on the EUR/JPY, because USD is strong while EUR is weak. So EUR/JPY was able to move upwards because JPY is weaker than EUR. Price is now above the demand zone at 119.50, going towards the supply zone at 120.00.

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Daily analysis of GBP/USD for November 25, 2016

USDX stayed in sideways during Thursday's Thanksgiving holiday in the US and still it's trying to break above the 101.74 level, in order to reach the 102.61 price zone. Because of current low volatility, we can expect some pullbacks and eventually it can test the 200 SMA at H1 chart. The next key support is located at the 100.53 level.

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H1 chart's resistance levels: 101.74 / 102.61

H1 chart's support levels: 100.53 / 99.39

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 101.74, take profit is at 102.61 and stop loss is at 100.87.

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Daily analysis of GBP/USD for November 25, 2016

The pair is still supported by the dynamic bottom offered in the 200 SMA at H1 chart, but we can see that GBP/USD struggles to break higher the 1.2451 level. If Cable manages to consolidate above it, then our short-term target of 1.2516 will be reached. However, because of Thanksgiving holidays in the United States, we cannot expect such volatile moves to take place.

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H1 chart's resistance levels: 1.2451 / 1.2516

H1 chart's support levels: 1.2396 / 1.2361

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2451, take profit is at 1.2516 and stop loss is at 1.2386.

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Daily analysis of GBP/JPY for November 24, 2016

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Overview

The GBPJPY pair opened its trading with a strong bullish wave that allows it to achieve the awaited target at 140.40. The current level forms an extension of the bearish channel's resistance, forming the key line between resuming the bullish attack and its stability within the negative range. Therefore, we recommend being neutral for the trading today until the true trend is confirmed in the upcoming period. A positive close above the current resistance will help the price make new gains that might begin at 141.60 reaching to 143.10. The expected trading range for today is between 137.60 and 141.60.

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Daily analysis of EUR/JPY for November 24, 2016

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Overview

The EURJPY price completed its bullish rally approaching from the awaited target at 119.20, which forms an initial barrier against the bullish attempts. Therefore, we recommend monitoring the price behavior when reaching this level. If the price surpasses this level, it will open the way for more positive targets that begin at 121.45. Stochastic stability within the overbought level reinforces positive pressure, providing bullish momentum, which gives a strong chance of resuming the bullish attack in the near and medium period. The expected trading range for today is between 118.20 and 121.45.

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Daily analysis of Gold for November 24, 2016

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Overview

The gold price confirmed a break of the 1,211.31 level after closing the daily candlestick below it, which puts the price under negative pressure that we expect to dominate the upcoming trading. The downward target represents testing of the 61.8% Fibonacci correction level that forms key support at 1,172.68. Therefore, the bearish bias is expected today. The bias is supported by the negative pressure formed by the EMA50. It is important to monitor the price behavior when reaching the targeted level, as a break of it will extend losses to 1,124.90 levels. The negative pressure will remain valid until the price manages to breach and step above 1,211.31 levels again. The expected trading range for today is between the 1,170.00 support and the 1,200.00 resistance.

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Daily analysis of Silver for November 24, 2016

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Overview

The silver price ended yesterday's trading below 16.56 levels falling under negative pressure that opens the way to the 15.49 area in the upcoming sessions. As we mentioned in our last technical update, the intraday trend has turned downwards now. Therefore, we are waiting for more negative trades for today unless the price manages to breach 16.56 and hold above it again. The EMA50 forms negative pressure that supports the suggested decline. The expected trading range for today is between the 15.80 support and the 16.56 resistance.

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