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Daily analysis of USDX for December 01, 2015

The index has been moving sideways, but it still favors the bullish bias in the short-term. The resistance zone of 100.24 is still a very strong hurdle for the overall trend and a breakout higher will perform a bullish consolidation on the USDX,
which can last in the short and medium- terms. The 200 SMA is slightly
bullish and the MACD indicator remains at the negative territory.

USDXH1.png

H1 chart’s resistance
levels: 100.24 / 101.01

H1 chart’s support levels: 99.80
/ 99.25

Trading recommendations for today:
Based on the H1 chart, place
buy
(long)
orders only if the USDX breaks with
a bullish
candlestick;
the resistance
level is seen at
100.24,
take profit is at
101.01,
and stop loss is at 99.48.

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

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Daily analysis of GBP/USD for December 01, 2015

On the H1 chart, GBP/USD found a temporary bottom around the psychological level of 1.5000. The current structure could be calling for more rallies towards the level of 1.5100, which is very close to the SMA 200 in this time frame. After that test, we should expect a pullback
towards new lows, and the pair can start to strengthen. The MACD
indicator remains at the positive territory.

1448920711_GBPUSDH1.png

H1 chart’s resistance
levels: 1.5062 / 1.5100

H1 chart’s support levels:
1.5031 / 1.4982

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 found at 1.5031, take profit is at
1.4982, and stop loss is at 1.5080.

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

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Daily analysis of Silver for November 30, 2015

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Overview

The silver price shows some slight bullish bias approaching the EMA50, while stochastic continues losing its positive momentum gradually approaching the overbought areas. It supports the chances of bouncing bearishly to resume the main bearish trend. Therefore, our bearish overview will remain valid for the rest of the day conditioned by holding below the 14.85 level, reminding you that our next targets begin at 13.50 followed by 13.00. The silver price made a new test of the 13.96 level without breaking it. it means stochastic loses its positive momentum gradually, while the EMA50 keeps pushing negatively on intraday and short-term trading.

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

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Daily analysis of GBP/JPY for November 30, 2015

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Overview

The current development indicates that the consolidation pattern from 180.36 has been completed at 188.79. A deeper fall is expected for a test of the 180.36/64 support zone. For the moment, the outlook will stay bearish as long as the 188.79 resistance holds even in case of recovery. In the longer-term picture, the uptrend from the 116.83 long-term bottom could be topping. There is no confirmation yet, but even is case of another rise, strong resistance is likely to be seen near the 61.8% retracement of 251.09 to 116.83 at 199.80.

Daily Pivots: (S1) 184.14; (P) 184.72; (R1) 185.20

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

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USD/CAD intraday technical levels and trading recommendations for November 30, 2015

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Overview:

A bullish breakout above the zone of 1.2770-1.2800 was observed on July 15 (highlighted in blue).

The long-term bullish target was projected towards the level of 1.3270 (100% Fibonacci Expansion). However, bulls moved further above the Fibonacci level, which was previously breached to the upside on September 23 and recently on November 12.

Significant bearish rejection has been observed around 1.3450 (141.4% Fibonacci Expansion).

Later on October 1, bearish closure below 1.3270 (Fibonacci Expansion 100%) was expressed. This exposes the next support levels around 1.2910 and 1.2750 where long-term buy entries were suggested.

A bearish breakout below the support level of 1.3075 was mandatory to allow the further bearish decline towards 1.2930. However, an evident bullish rejection was expressed around this level.

Another bullish visit to the level of 1.3270 (FE 100%) was initiated on November 4. A bullish breakout above 1.3300 was performed again on November 13.

Since then, the USD/CAD pair has been moving sideways (ranging between 1.3300 and 1.3430).

Daily persistence above 1.3300 exposes the next resistance level at 1.3450 (Fibonacci Expansion 141.0%) where a valid sell entry can be offered.

On the other hand, bearish breakdown below 1.3300 (FE 100%) is needed to enhance the bearish side of the market again.

Trading recommendations:

Conservative traders should wait for an obvious bearish closure below 1.3250 (FE 100%) to sell the USD/CAD pair.

S/L should be placed above 1.3370.

Initial T/P levels should be placed at 1.3150 and 1.3080.

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

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Intraday technical levels and trading recommendations for GBP/USD for November 30, 2015

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A few months ago, the market was pushed above the weekly key zone around 1.5550 in an attempt to reach the area of 1.5900, which has been providing the GBP/USD pair with significant resistance.

Recent weekly candlesticks came as bearish engulfing candles, closing below the level of 1.5220 (the neckline of the Head and Shoulders pattern).

This supported the bearish side of the market in the long term. An approximate target should be located at the level of 1.4800 for this reversal pattern.

The previous demand level at 1.5200 (the origin of a previous bullish engulfing weekly candlestick) was broken down three weeks ago. This bearish tendency was confirmed by the Shooting Star bearish weekly candlestick of a previous week.

A quick bearish decline towards the weekly demand level at 1.4950 remains expected as long as the bearish breakdown below 1.5200 persists on a weekly basis.

gbpusddaily.png

The previous bearish movement found its way towards the level of 1.5200 (prominent demand level), which prevented the further bearish decline.

Instead of it, an evident bullish reaction was performed around 1.5200-1.5170 (resulting in bullish engulfing daily candlesticks).

This led to the previous bullish pullback towards 1.5600 (the backside of the depicted uptrend). It placed the GBP/USD pair under significant bearish pressure.

The demand levels of 1.5350 and 1.5200 were broken down a few weeks ago. Currently, these levels constitute prominent supply to be watched for new sell entries.

The key level of 1.5200 was temporarily breached to the upside before until a daily bearish engulfing candlestick was expressed around 1.5330 on November 20.

Note that bearish persistence below 1.5200 and 1.5050 (previous weekly bottom) enhances further bearish decline towards the weekly demand level at 1.4960.

Trading Recommendation:

Risky traders were advised to sell the GBP/USD pair anywhere around 1.5350. S/L can be lowered to 1.5150 to secure our profits.

For conservative traders, a low-risk buy entry will probably be offered around the weekly demand levels of 1.5000-1.4950. S/L should be placed below 1.4920. Initial T/P levels should be located at 1.5170 and 1.5300.

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

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Intraday technical levels and trading recommendations for EUR/USD for November 30, 2015

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The EUR/USD pair moved lower after breaking below the major demand levels around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010.

EUR/USD bears have previously pushed the price slightly below the monthly demand level of 1.0550 (established in January 1997). Bullish recovery was observed shortly after.

April’s candlestick came as bullish engulfing one. However, the next monthly candlesticks (July, August, September and October) reflected a strong bearish rejection, which took place at the level of 1.1450.

Hence, in the long term, a projected target is still seen at 0.9450 if a bearish breakout of the monthly demand level at 1.0555 occurs before the end of this month (November).

eurusddaily.png

On August 24, the market looked overbought as bulls were pushing the pair further above the level of 1.1500 (daily supply level).

Recently, the intraday supply zone of 1.1360-1.1400 provided significant bearish rejection. An intraday sell entry was suggested. T/P levels located at 1.1150 and 1.1050, which were already reached.

A bearish breakout of the depicted uptrend has been executed on October 23. This enhanced a long-term bearish scenario with targets projected at 1.0800 and 1.0600.

Two weeks ago, daily persistence below the level of 1.0990 exposed the next demand level around 1.0850 where prominent bottoms were previously established in May, July, and August.

Last week, daily persistence below the level of 1.0700 (key level) ensured enough bearish momentum towards 1.0550 (prominent monthly low) where price actions should be watched.

A daily breakdown of the monthly demand level (1.0550) is needed to expose next bearish target levels at 1.0460 then 1.0300 as initial targets for the long-term bearish breakout mentioned above.

On the other hand, bullish fixation above 1.0550 brings the EUR/USD pair again towards 1.0700 (key level).

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

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Technical analysis of AUD/USD for November 30, 2015

Technical outlook and chart setups:

The AUD/USD pair has picked up from its Fibonacci 50% support of the rally between 0.7070 and 0.7280, at the 0.7170 levels as seen here. It is quite possible that the retracement is complete and that prices could rally towards fresh highs. But recommendations are to initiate long positions around the 0.7150 levels, considering the risk/reward ratio. Besides, note that 0.7150 is the Fibonacci 0.618 support and the past resistance turned into support come in there. Immediate support is seen at the 0.7160 levels, followed by 0.7070, while resistance is seen at the 0.7280 levels.

Trading recommendations:

Remain flat for now, look to go long around the 0.7150 levels.

Good luck!

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

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Technical analysis of NZD/USD for November 30, 2015

Technical outlook and chart setups:

The NZD/USD pair picked up from the expected price levels around 0.6530 on Friday. Today the pair has made an intraday high at the 0.6580 levels and is pulling back again before the rally could resume. Please note that the bullish bounce has come at a trend-line support and also the Fibonacci 0.786 support of the rally between 0.6500 and 0.6600 levels earlier. It is hence recommended to remain long with risk around the 0.6500 levels for now. Immediate support is seen at the 0.6510 levels (interim), while resistance is at 0.6600. Please note that a push above the 0.6600 levels would accelerate towards the 0.6715 levels.

Trading recommendations:

Remain long, stop is at 0.6500, target is 0.6700

Good luck!

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

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Technical analysis of US dollar Index for November 30, 2015

Technical outlook and chart setups:

The US dollar index was pushed higher to the level of100.30 before pulling back lower. The index is trading at 100.16 now, we expect it to drop lower and break the immediate trend-line support and the level of 99.65 subsequently. We need to see a breakout below 99.65 to confirm a short on rally trade setup going ahead. It is therefore recommended to remain flat now. Immediate support is seen at 99.65 followed by 99.30 and lower, while resistance is seen at 100.30 and higher.

Trading recommendations:

Remain flat looking for an opportunity to go short.

Good luck!

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

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