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Technical Analysis from www.Instaforex.com
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EUR/USD:
The situation in the EUR/USD pair requires some tact at present. The movement in the market have been transitory and unreliable, but the price is very likely to go upwards reaching the resistance line at 1.0950. This expectation would make sense as long as the price is unable to go below the support line of 1.0800.
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USD/CHF:
It is still possible that this currency pair would go further upwards. The EMA 11 is above the EMA 56, while the Williams' % Range period 20 is in the overbought region. Unless the CHF experience lots of stamina, the USD/CHF pair could be seen making further bullish efforts from here. There is a resistance level at 1.0100, which has been tested and could be retested.
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GBP/USD:
Long trades are not recommended in this market, unless the price goes upwards by at least, 300 pips. This is the only action that could harbinger the start of a new bullish bias; otherwise, rallies ought to be seen as good chances to go short, because the outlook for the market is bearish.
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USD/JPY:
The USD/JPY pair has consolidated so far this week. The consolidation is taking place in the context of a downtrend, and when a breakout occurs, it is more likely to be in favor of bears. This expectation would be rational as long as the price does not go above the supply level of 119.50.
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EUR/JPY:
This cross consolidated yesterday in the context of an extant bearish outlook. The Bearish Confirmation Pattern in the market is valid, and the price could test the demand zone around 127.00, on condition that there is no upward movement of about 300 pips.
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Technical analysis of USD/CHF for January 14, 2016 2016-01-14 0/5
USD/CHF is expected to trade in a higher range as the bias remains bullish. The pair stands firmly above its major support around 1.0020, which should call for a stabilization. Even though, a continuation of the consolidation cannot be ruled out at the current stage, its extension should be limited. To conclude, as long as 1.0020 is not broken, look for a further advance to 1.0105 and 1.0140 after a small pause. Trading recommendations: 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. As long as the price holds above its pivot point, it is recommended to open long positions with the first target at 1.0105 and the second target at 1.0140. In the alternative scenario, it is recommended to open short positions with the first target at 0.9990, if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9950. The pivot point is at 1.0020. Resistance levels: 1.0105, 1.0140, 1.0170 Support levels: 0.9990, 0.9950, 0.99 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016
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Technical analysis of USD/JPY for January 14, 2016 2016-01-14 0/5
USD/JPY is expected to trade in a lower range. Overnight, the US stocks resumed their slide losing over 2%. Consumer discretionary and health care shares declined. The Dow Jones Industrial Average dropped 2.2% to 16151, the S&P 500 lost 2.5% to 1890, while the Nasdaq Composite was down 3.4% to 4526. Nymex crude oil edged up 4 cents to close at $30.48 a barrel, gold rose 0.6% to $1093 an ounce, while the benchmark 10-year Treasury yield declined further to 2.07% from 2.100% at the previous session. Meanwhile, the US dollar pared most of its gains against the euro and the yen. EUR/USD increased 0.2% to 1.0873 (day low at 1.0803), and USD/JPY edged up to 117.66 (day high at 118.37) from 117.62. On the other hand, the greenback remained firm against commodity-related currencies with USD/CAD rising another 0.5% to 1.4337 and AUD/USD falling 0.4% to 0.6954. Though the pair broke above the previous key resistance at 118.05, it could only run up to 118.38 before starting its descent. It is currently trading around the lower Bollinger band, while the 20-period (30-minute chart) has crossed below the 50-period one. And the intraday relative strength index is around the over-sold level of 30. The first downside target at 117.20 (a base seen in January 11-12) is in sight, and the break-below of this level could call for a further decline toward 116.75. 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 117.20. A break of that target will move the pair further downwards to 116.75. The pivot point stands at 118.05. 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 118.35 and the second target at 118.60. Resistance levels: 118.35, 118.60, 119 Support levels: 117.20, 116.75, 116.10 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016
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Technical analysis of NZD/USD for January 14, 2016 2016-01-14 0/5
NZD/USD is expected to trade in a lower range . The pair broke below its intraday trading range pattern yesterday, and accelerated on the downside. The 20-period moving average also crossed below the 50-period one, and should act as a strong resistance to push the prices lower. Besides, the relative strength index is badly directed without showing any signals of reversal. To sum up, as long as 0.6540 (our trailing stop loss) is not surpassed, a decline to 0.6450 and 0.6400 should be expected. 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 0.6450. A break of that target will move the pair further downwards to 0.64. The pivot point stands at 0.6540. 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 0.6585 and the second target at 0.6635. Resistance levels: 0.6585, 0.6635, 0.6675 Support levels: 0.6450, 0.64, 0.6365 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016
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Technical analysis of GBP/JPY for January 14, 2016 2016-01-14 0/5
GBP/JPY is expected to trade in a lower range as the key resistance is seen at 170.45. The pair has struck against its key resistance at 170.45 turning down. The 20-period and 50-period moving averages are above the prices now. Furthermore, the relative strength index fell below its neutrality area of 50, which should confirm a bearish reversal. Hence, as long as 170.45 holds on the upside, any rebounds should be limited before a new pullback to 168.50 and 167.35 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 168.50. A break of that target will move the pair further downwards to 167.35. The pivot point stands at 170.45. 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 171.35 and the second target at 172.30. Resistance levels: 171.35, 172.30, 173.45 Support levels: 168.50, 167.35, 166.25 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016
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EUR/USD:
The condition remains unchanged in the market just as it was yesterday. The situation in the market requires some tact at present. The movements in the market have been transitory and unreliable, but the price is very likely to go upwards towards the resistance line at 1.0950. This expectation would make sense as long as the price is unable to go below the support line at 1.0800.
