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Technical Analysis from www.Instaforex.com
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USD/CHF:
This pair also did not move upwards very much on Monday, though the bias is bullish. The price now lays siege at the resistance level of 1.0200, which must be broken to the upside so that the bullish bias could continue. On the other hand, the support levels are found at 1.0150 and 1.0100.
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GBP/USD:
The cable traded lower on Monday � something that started on Friday. Since then, the price has come down by at least 170 pips, moving closer to the accumulation territory of 1.5100. The next target for bears is easy to be seen: the aforementioned accumulation territory, which would be breached to the downside for the bearish journey to continue.
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USD/JPY:
The USD/JPY pair is still behaving exactly as it did last week. It just went up and down in a shallow manner, though the bullish bias remains valid. This week, there is a probability that the pair could continue moving upwards owing to the expected loss of stamina in the yen.
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EUR/JPY:
This cross still shows a strong willingness to continue trending downwards in conjunction with the extant bias in the market. The Bearish Confirmation Pattern looks very strong in the chart, and the weakness in the market should continue as long as the euro is weak versus the yen
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Technical analysis of GBP/JPY for November 24, 2015 2015-11-24 0/5
GBP/JPY is expected to trade in a lower range as a downside movement prevails . The pair remains capped by its declining 50-period intraday moving average and stays on the downside. Meanwhile, the intraday relative strength index lacks upward momentum. The first downside target is therefore set at the horizontal support and overlap at 184.90. A breakout below this level would open the way to further weakness towards 184.30. 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 184.90. A break of that target will move the pair further downwards to 184.30. The pivot point stands at 186. 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 186.40 and the second target at 187. Resistance levels: 186.40 187 187.75 Support levels: 184.90 184.30 183.70 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of NZD/USD for November 24, 2015 2015-11-24 0/5
NZD/USD is expected to trade with a bearish bias. The pair broke below its previous key support at 0.6550 and accelerated on the downside. The declining 50-period moving average suggests that the pair still has potential for a further decline. The relative strength index is around its neutrality area of 50%. As long as 0.6550 holds on the downside, the pair is likely to test its previous low of 0.6490. A breakout below this level would call for a a further drop towards 0.6460. 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 0.6490. A break of that target will move the pair further downwards to 0.6460. The pivot point stands at 0.6550. 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 0.6580 and the second target at 0.6605. Resistance levels: 0.6580 0.6605 0.6625 Support levels: 0.6490 0.6460 0.6430 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of USD/CHF for November 24, 2015 2015-11-24 0/5
USD/CHF is expected to trade in a higher range as the bias remains bullish. The pair is consolidated trading below its 20- and 50-period moving averages. The relative strength index is below its neutrality level of 50%. Nevertheless, the support area was found around 1.0150, which should limit the downside potential. Even though a continuation of consolidation cannot be ruled out, its extension should be limited. As long as 1.0150 is not broken, look for a technical rebound with targets at 1.0220 and 1.0250. 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 1.0220 and the second target at 1.0250. In the alternative scenario, short positions are recommended with the first target at 1.0115 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 1.0075. The pivot point is at 1.0150. Resistance levels: 1.0220 1.0250 1.0275 Support levels: 1.0115 1.0075 1.0025 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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Technical analysis of USD/JPY for November 24, 2015 2015-11-24 0/5
The USD/JPY pair is under pressure. The US dollar continued to rise against other most major currencies as investors kept expecting the Federal Reserve to raise interest rates in December. The Wall Street Journal Dollar Index gained another 0.3% to 90.54. EUR/USD hovered around its 7-month low of 1.0620 and once moved as low as 1.0591. The GBP/USD pair lost 0.4% to 1.5122. Meanwhile, USD/CHF reached as high as 1.0225, which was last seen in January just before the Swiss central bank abandoned the peg between the euro and the Swiss franc. The pair encountered resistance after the level of 123.26 was reached yesterday. Since then it has entered a consolidation zone and is currently trading around the 20-period moving average, which has crossed below the 50-period one. The relative strength index is still below the neutrality level of 50. As long as 123.05 holds as the key resistance level, the pair is expected to return to 122.35 (a base seen on November 20). 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 122.35. A break of that target will move the pair further downwards to 122.20. The pivot point stands at 123.05. 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 123.25 and the second target at 123.40. Resistance levels: 123.25 123.40 123.60 Support levels: 122.35 122.20 122 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015
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EUR/USD:
This currency trading instrument did not present any significant movement on Tuesday, though the bias remains bearish. It is possible that the price would continue south; and it is also possible that the price would rise sharply. This week, we will witness the possibilities.
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USD/CHF:
After testing the resistance level at 1.0200, this pair has eased a bit hitting the support level at 1.0150. The bullish bias is intact and it would hold out as long as the price is above the support level at 1.0050. Only a very strong selling pressure is needed to take the price below that support level � something that currently does not exist in the market.
