Technical Analysis from www.Instaforex.com

[BudakFx]

USD/JPY:





What has happened this week is best called a 'base.' Indeed, the price has formed a base, which is likely to send the price either south or north, depending on what happens to the yen next week. An upturn is much more likely in the market.

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[BudakFx]

EUR/JPY:




Here, the EMA 11 is below the EMA 56, and the RSI period 14 is below the level of 50. There is a Bearish Confirmation Pattern in the market; and therefore, further bearish movement on the EUR/JPY is not ruled out.

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[BudakFx]

EUR/USD:





The inability of EUR/USD to go further higher has resulted in a weak bearish movement. The price is now threatening to test the support line at 1.0850, which is most likely to occur. According to all indications, the bears would succeed in driving EUR/USD further down this week.

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[BudakFx]

USD/CHF:






The sudden weakness in the franc caused this pair to break out of its long-term base last week. Because of the bullish breakout, there is now a bullish signal in the market, and there is a tendency that the market could trend further higher from here. If it happens, the resistance levels at 1.0050 and 1.0100 could be reached soon.

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[BudakFx]

GBP/USD:





The GBP/USD moved down by 170 pips last week, closing below the distribution territory at 1.4750. There is still a great probability that the market could continue going further down because the outlook on the GBP/USD (including other GBP pairs) is bearish. The price might test the accumulation territories at 1.4700 and 1.4650 this week.

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[BudakFx]

USD/JPY:




This currency trading instrument simply consolidated last week. A closer look at the chart shows that the price consolidated to the downside at the close of trading activities last week, testifying to the ongoing weakness in the market. It is possible that the market would continue moving further downwards this week.

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[BudakFx]

EUR/JPY:




The weakness in the euro caused the EUR/JPY to drop by 150 pips last week. This cross' movements would be determined by whatever happens to the euro. The price might attain the demand zones at 130.00 and 129.50 before the end of this week because there is a bearish confirmation pattern in the market.

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[BudakFx]

Technical analysis of USD/JPY for January 04, 2016 2016-01-04 0/5




USD/JPY is expected to trade in a lower range as the key resistance is at 119.95. Last Thursday, US stock indices settled lower in the last session of 2015, weighed on by shares in semiconductor, technology hardware and software sectors. The Dow Jones Industrial Average fell 1.0% to 17,425, the S&P 500 dropped 0.9%, to 2,043, while the Nasdaq Composite was down 1.2% to 5,007. Nymex crude oil rebounded 1.2% to $37.04 a barrel, gold was flat at $1,060 an ounce, and the benchmark 10-year Treasury yield closed at 2.173%, down from 2.305% in the previous session. Meanwhile, the US dollar bounced with EUR/USD falling 0.6% to 1.0860, GBP/USD dropping 0.5% to 1.4743, and USD/CHF surging 1.4% to 1.0018. On the other hand, USD/JPY declined 0.2% to 120.30. The pair fell to as low as 119.95 at the end of 2015 before posting a rebound. Currently, it is trading above the 20- and 50-period (30-minute chart) moving average and the intraday relative strength index has reached the over-bought level of 70. As long as the key resistance at 119.95 is not surpassed, the pair is expected to return to the first downside target at 118.60. Trading recommendations: The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 118.60. A break of that target will move the pair further downwards to 118. The pivot point stands at 119.95. 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, long positions are recommended with the first target at 120.40 and the second target at 120.75. Resistance levels: 120.40, 120.75, 121 Support levels: 118.60, 118, 117.65 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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[BudakFx]

Technical analysis of USD/CHF for January 04, 2016 2016-01-04 0/5




USD/CAD is under pressure. The pair is reversing down against its key resistance at 0.9990 and remains under pressure. The descending 50-period moving average maintains a bearish bias. The first target to the downside is therefore set at 0.9910. A break below this level would open the way to further weakness towards 0.9875. Trading recommendations: The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.9910. A break of that target will move the pair further downwards to 0.9875. The pivot point stands at 0.9990. 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, long positions are recommended with the first target at 1.0030 and the second target at 1.0085. Resistance levels: 1.0030, 1.0085, 1.0125 Support levels: 0.9910, 0.9875, 0.9825 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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[BudakFx]

Technical analysis of NZD/USD for January 04, 2016 2016-01-04 0/5




NZD/USD is under pressure. The pair failed to break above its nearest key resistance at 0.6820 after the recent tests, and remains under pressure below its falling 50-period moving average. At the current stage, the pair seems more likely to test its support at 0.6735 in the coming trading hours. The relative strength index is negative without showing any reversal signs. To sum up, as long as 0.6820 holds on the upside, look for a new pullback to 0.6735 and 0.6715 in extension. Trading recommendations: The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6735. A break of that target will move the pair further downwards to 0.6715. The pivot point stands at 0.6820. 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, long positions are recommended with the first target at 0.6845 and the second target at 0.6885. Support levels: 0.67305, 0.6715, 0.6665 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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