Technical Analysis from www.Instaforex.com

[BudakFx]

GBP/USD:





The GBP/USD pair moved slightly downwards on Monday proving that the rally we saw last week was merely an upward bounce in the context of a downtrend. Further bearish movements are expected this week and next week (as it is also forecasted for other GBP pairs); therefore accumulation territories around 1.4850 and 1.4800 would be tested.

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[BudakFx]

USD/JPY:





The USD/JPY pair has moved down by 110 pips, now it is trading below the supply level of 120.50 and going towards the demand level at 120.00. There is a very strong Bearish Confirmation Pattern in the chart; plus the price is likely to go further south when momentum returns to the market.

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[BudakFx]

EUR/JPY:




An upwards bounce we witnessed last week proved to be an opportunity to go short. The price came down after that, plus the demand zone at 131.50 is the next target, which might be breached to the downside soon.

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[BudakFx]

Technical analysis of GBP/JPY for December 29, 2015 2015-12-29 0/5





The GBP/JPY pair is expected to trade with a bearish bias. The pair is turning down away from its key resistance at 179.80 and is heading lower. Both descending 20-period and 50-period moving averages maintain a bearish bias. And the relative strength index lacks upward momentum. We remain negative below 179.80 with targets at 178.50 and 177.85. 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 179.00. A break of that target will move the pair further downwards to 178.50. The pivot point stands at 180.10. 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 180.60 and the second target at 181.20. Resistance levels: 180.15, 180.60, 181.20 Support levels: 178.50, 177.85, 177 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015

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[BudakFx]

Technical analysis of NZD/USD for December 29, 2015 2015-12-29 0/5





The NZD/USD is expected to trade in a higher range as the bias remains bullish. The pair is well supported by its 50-period moving average and remains on the upside. The RSI is bullish calling for moving further upside. As long as 0.6805 holds as the key support, look for further upside with targets at 0.6890 and 0.6920. 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 0.6890 and the second target at 0.6920. In the alternative scenario, it is recommended to open short positions with the first target at 0.6805, 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 0.6780. The pivot point is at 0.6835. Resistance levels: 0.6890, 0.6920, 0.6950 Support levels: 0.6805, 0.6780, 0.6755 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015

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[BudakFx]

Technical analysis of USD/CHF for December 29, 2015 2015-12-29 0/5




USD/CHF is expected to trade in a lower range as key resistance is seen at 0.9890. The pair struck against the key resistance at 0.9890 yesterday but failed to close above that level. Currently, it is back below both the 20- and 50-period moving averages. At the same time, the relative strength index is below the neutrality level of 50 lacking upward momentum. Therefore, as long as 0.9830 holds as the key resistance, the pair should return to the first downside target at 0.980 (a major support seen in December 24-28). 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 0.9830. A break of that target will move the pair further downwards to 0.98. The pivot point stands at 0.9890. 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 0.9915 and the second target at 0.9940. Resistance levels: 0.9915, 0.9940, 0.9970 Support levels: 0.9830, 0.98, 0.9755 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015

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[BudakFx]

Technical analysis of USD/JPY for December 29, 2015 2015-12-29 0/5




USD/JPY is still under pressure. Overnight the US stock indexes continued to move lower as oil prices resumed sell-off led to losses in energy shares. The Dow Jones Industrial Average edged down 0.1% to 17528, the S&P 500 fell 0.2% to 2056, while the Nasdaq Composite was down 0.2% to 5040. Nymex crude oil lost 3.4% landing at $36.81 a barrel. Meanwhile, gold declined 0.7% to $1,068 an ounce, and the benchmark 10-year Treasury yield fell further to 2.227% from 2.241% in the previous session. The U.S. dollar remained mixed against most major currencies. EUR/USD stayed broadly flat at 1.0965, while GBP/USD fell 0.4% to 1.4876 and USD/CAD was up 0.6% to 1.3904. The pair continues to stay on the downside while being capped by the 50-period (30-minute chart) moving average. The 20-period moving average has crossed below the 50-period one, and the intraday relative strength index stands below the neutrality level of 50. The intraday outlook remains bearish, and the pair is expected to return to the first downside target at 120.00 (the low of December 25). The second downside target is set at 119.80 (last seen on October 22). Only a break above the key resistance at 120.75 (a price base seen in December 22-23) would turn the intraday outlook bullish. 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 120.00. A break of that target will move the pair further downwards to 119.75. The pivot point stands at 120.75. 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 121 and the second target at 121.30. Resistance levels: 121.00, 121.30, 121.75 Support levels: 120.00, 119.75, 119.35 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2015

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[BudakFx]

EUR/USD:




This currency pair has only moved sideways this week so far. It would be better to stay off the market because the price action does not show supremacy of bulls or bears at the moment. Momentum would return to the market early next week, which would make the price go either above the resistance level of 1.1000 or below the support level of 1.0850.

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[BudakFx]

USD/CHF:





This currency trading instrument is generally in an equilibrium phase, though the current price action is a threat to an ongoing bias. A move above the resistance level of 1.0000 would result in invalidation of the bearish bias in the market leading to a Bullish Confirmation Pattern. If the price fails to do this, the price is likely to continue its southward effort when there is a breakout in the market.

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[BudakFx]

GBP/USD:





The GBP/USD pair simply went flat on Wednesday. The bias is strongly bearish on the market, and the current upwards bounce is simply a rally in the context of a downtrend. The accumulation territory would be tested again: it could even be breached to the downside this week or next week.

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