Technical Analysis from www.Instaforex.com

[BudakFx]

Technical analysis of NZD/USD for January 27, 2016 2016-01-27 4/5





NZD/USD is expected to trade in a lower range. Its key resistance stands at 0.6520. The pair stays below its key resistance at 0.6520 and remains on the downside. The descending 50-period moving average maintains a bearish bias. The first target to the downside is therefore set at 0.6455. A break below this level would open the way to further weakness towards 0.6430. 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 0.6455. A break of that target will move the pair further downwards to 0.6430. The pivot point stands at 0.6520. 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 0.6550 and the second target at 0.6580. Resistance levels: 0.6550, 0.6580, 0.6610 Support levels: 0.6455, 0.6430, 0.64 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

​

 

[BudakFx]

Technical analysis of USD/CHF for January 27, 2016 2016-01-27 4/5




USD/CHF is turning downwards. The pair bounced off its resistance around 1.0175 and 1.020 and reversed down. The 20-period moving average has crossed above the 50-period one, and both of them play resistance roles. The relative strength index is negative below its neutrality area at 50. In these perspectives, as long as the mark of 1.0200 (our pivot point) is not broken, look for further decline to 0.6520 and 0.6550 in extension. Alternatively, breaches below 0.6470 will likely lead to a decline 0.6430 and 0.6410 as targets. 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 1.0110. A break of that target will move the pair further downwards to 1.0065. The pivot point stands at 1.0200. 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 1.0230 and the second target at 1.0260. Resistance levels: 1.0230, 1.0260, 1.0295 Support levels: 1.0110, 1.0065,1.0030 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

​

 

[BudakFx]

Technical analysis of USD/JPY for January 27, 2016 2016-01-27 0/5




USD/JPY is expected to trade with bullish bias. Overnight, U.S. stocks rebounded as oil shares climbed with rallying crude prices. Better-than-expected quarterly results posted by large firms like Johnson & Johnson and 3M also contributed to the rise. The Dow Jones Industrial Average gained 1.8% to 16,167, the S&P 500 rose 1.4% to 1,903, while the Nasdaq Composite was up 1.1% to 4,567. Nymex crude oil rose 3.7% to $31.45 a barrel, and gold gained another 1.3% to $1,121 an ounce. While U.S. Federal Reserve officials began a two-day meeting over the monetary policy, the benchmark 10-year Treasury yield eased further to 1.996% from 2.022% in the previous session. Meanwhile, the U.S. dollar weakened against commodity currencies, with USD/CAD plunging 1.2% to 1.4114, giving back all gains made on Monday. AUD/USD rebounded 0.7% to 0.7002 and NZD/USD was up 0.7% to 0.6497. At the same time, EUR/USD rose 0.2% to 1.0869; and GBP/USD was up 0.7% to 1.4350. Overnight, the pair rebounded to as high as 118.62 from a low of 117.62. Currently, it keeps trading on the upside and is seeking support from the 50-period (30-minute chart) moving average. The 20-period moving average still stands above the 50-period one. As long as 117.90 holds as the key support, the pair should continue its rebound and rise towards the first upside target at 118.85 (resistance tested repeatedly on January 22-25). However, in case of breaches below 117.95, expect a further decline towards 117.60 (around yesterday's low). 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, long positions are recommended with the first target at 118.60 and the second target at 168.85. In the alternative scenario, short positions are recommended with the first target at 117.60 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 117.18. The pivot point is at 117.90. Resistance levels: 118.60, 118.85, 119.25 Support levels: 117.60, 117.18, 116.75 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

​

 

[BudakFx]

EUR/USD:




Just like its GBP/USD counterpart, this pair also moved upwards on Monday, trying to reach the resistance line at 1.0900. In case the resistance line is breached to the upside, the next target for the bulls could be the resistance line at 1.1000. However, there is still a neutral bias on the market, and at least a 300-pip movement to the upside or the downside is needed to force the price out of the current neutral region.

​

 

[BudakFx]

USD/CHF:




Because the EUR/USD moved upward yesterday, the USD/CHF moved lower on the same day (in an inverse correlation with each other). However, the bullish signal in the market is not yet over, unless the price breaks below the support levels at 1.0100 and 1.0050. Should this fail to happen, we might see a resumption of the bullish movement in the market.

​

 

[BudakFx]

GBP/USD:





It is interesting to see that the GBP/USD moved upwards by 200 pips on Monday, rising from the accumulation territory at 1.4250, and almost reached the distribution territory at 1.4450. Although the recent bearish bias still exists, it is now threatened by the price action on Monday. A further bullish movement of 200 pips would result in a new bullish bias on the market. Otherwise, this could turn out to be a rally in the context of an uptrend.

​

 

[BudakFx]

USD/JPY:




This pair, which moved significantly upwards last week, simple moved sideways yesterday. The indicators in the chart currently support the bullish trend in the market, which is supposed to continue this week and this month. The same outlook is also possible on other JPY pairs, owing to the seasonality of this phenomenon. JPY pairs are usually strong in February of every year.

​

 

[BudakFx]

EUR/JPY:





This cross moved upward slightly yesterday, recovering the shallow pullback witnessed on January 29, 2016. The price should rally further today or tomorrow, enabling the price to test the supply zones at 132.50 and 130.00. The demand zones at 130.50 and 131.00 should do a good job in resisting any bearish corrections along the way.

​

 

[BudakFx]

EUR/USD:





This pair started moving upwards gradually on Monday, but the upwards movement became really significant on Wednesday leading to a strong Bullish Confirmation Pattern in the chart. The price has now moved upwards by over 300 pips and there is more room for additional bullish journey, which is likely to take place irrespective of the pullbacks along the way.

​

 

[BudakFx]

USD/CHF:






The USD/CHF pair plunged massively on Wednesday (February 3, 2016), as a result of a perceived weakness in USD. The price dropped by 230 pips this week, ending the recent bullish bias in the market. After the plunge, there is an upward bounce in the context of a downtrend. Further downward movement is thus expected, which might take the price towards the support level of 0.9950.

​