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Technical analysis of USD/CHF for January 11, 2016 2016-01-11 0/5




USD/CHF is expected to trade in a higher range. The pair stays above its key support at 0.9920 and remains on the upside. Both rising 20-period and 50-period moving averages maintain a bullish bias. Meanwhile, the relative strength index is positively oriented. Further upside is therefore expected with the next horizontal resistance and overlap set at 1.0040 at first. A break above this level would call for further advance towards 1.0080. 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 1.0040 and the second target at 1.0080. In the alternative scenario, it is recommended to open short positions with the first target at 0.9870, 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 0.9810. The pivot point is at 0.9920. Resistance levels: 1.0040, 1.0080, 1.0110 Support levels: 0.9870, 0.9810, 0.9765 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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[BudakFx]

Technical analysis of USD/JPY for January 11, 2016 2016-01-11 0/5




USD/JPY is expected to trade in a higher range. Last Friday, US stocks continued with their downtrend despite a stronger-than-expected non-farm jobs report (+292,000 in December vs +210,000 expected). The Dow Jones Industrial Average fell another 1.0% to 16,346, the S&P 500 dropped 1.1% to 1,922, while the Nasdaq Composite was down 1.0% to 4,643. Nymex crude oil declined 0.3% to $33.16 a barrel, gold dropped 0.5% to $1,103 an ounce, while the benchmark 10-year Treasury yield fell to 2.131% from 2.153% in the previous session. At the same time, the US dollar kept its strength against commodity currencies, with NZD/USD plunging 1.3% to 0.6538, AUD/USD falling 0.8% to 0.6951 and USD/CAD rising another 0.4% to 1.1468. GBP/USD remained on its downtrend giving up another 0.7% to 1.4517. However, at the end of the session, it pared most of the gains made against the euro and the yen earlier amid the jobs report's release. EUR/USD edged down 0.1% to 1.0929 (vs day low of 1.0801) and USD/JPY was down 0.2% to 117.44 (vs day high of 118.75).The pair maintained its upward momentum and is trading around the lower Bollinger band. The 20-period (30-minute chart) moving average has crossed below the 50-period one, and the intraday relative strength index has dropped below the over-sold level of 30. Therefore the intraday bullish outlook is expected to persist. 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 118.80 and the second target at 119.30. In the alternative scenario, it is recommended to open short positions with the first target at 116.75, 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 116.10. The pivot point is at 117.05. Resistance levels: 118.80, 119.30, 119.75 Support levels: 116.75, 116.10, 115.75 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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[BudakFx]

EUR/USD:




The EUR/USD pair went down slightly on Monday with nothing significant. This week would see what shall happen to the market, but the bearish bias would not be over unless the price goes above the resistance line at 1.1000, which is a formidable line.

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USD/CHF




: On Monday, this pair showed some determination to continue going upwards. It is possible that the price would test the resistance level at 1.0100, which bulls could not breach to the upside last week. Another attempt to breach it to the upside might be witnessed this week, though that would require a significant buying pressure.

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[BudakFx]

GBP/USD:





The GBP/USD pair is still in a bearish mode, and the price might go further southwards. Any rallies in the market should be seen as opportunities to sell short, because the bearish trend is likely to continue. Therefore, the accumulation territories 1.4500 and 1.4450 could be attained.

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[BudakFx]

USD/JPY:




This currency trading instrument, which moved southwards last week, still shows the tendency to move further south this week. The price made several attempts to break the demand level at 117.00 to the downside, but with no success. The price still shows the determination to go further south, which may eventually enable it to go below the demand level at 117.50.

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[BudakFx]

EUR/JPY:




This cross moved lower on Monday in conjunction with the extant bearish outlook. The Bearish Confirmation Pattern in the market is valid, and the price could test the demand zone at 127.00. The price could even breach that demand zone to the downside.

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[BudakFx]

Technical analysis of GBP/JPY for January 12, 2016 2016-01-12 0/5






GBP/JPY is under pressure. The pair stays below its key resistance at 171.10 and remains under pressure. Meanwhile, the relative strength index lacks upward momentum. The first target to the downside is set at the horizontal support and overlap at 169.35. A break below this level would open the way to further weakness towards 168.30. 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 169.35. A break of that target will move the pair further downwards to 168.30. The pivot point stands at 171.10. 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 171.70 and the second target at 172.50. Resistance levels: 171.70, 172.50, 173.45 Support levels: 169.35, 168.30, 167.65 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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[BudakFx]

Technical analysis of NZD/USD for January 12, 2016 2016-01-12 0/5





NZD/USD is expected to trade in a lower range as the key resistance is at 0.6585. The pair posted some technical rebounds yesterday after the recent decline. Nevertheless, the key resistance at 0.6585 still places prices under strong selling pressure. Besides, the relative strength index lacks upward momentum. Even though a continuation of the technical rebounds cannot be ruled out, its extent should be very limited. As long as 0.6585 is not surpassed, look for a new pullback to 0.6500 and 0.6445 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 0.6500. A break of that target will move the pair further downwards to 0.6445. The pivot point stands at 0.6585. 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 0.6635 and the second target at 0.6675. Resistance levels: 0.6635, 0.6675, 0.6705 Support levels: 0.65, 0.6445, 0.64 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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[BudakFx]

Technical analysis of USD/CHF for January 12, 2016 2016-01-12 0/5





USD/CHF is expected to continue its rebound. The pair remains supported by its rising 20-period moving average. The 50-period moving average is also turning up, and should play a support role. Furthermore, the relative strength index stands firmly above its neutrality area at 50, and is well directed. In this case, as long as 0.9950 (our trailing stop loss) is not broken, look for a new advance to 1.0040 and 1.0080 in extension. 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 1.0040 and the second target at 1.0080. In the alternative scenario, it is recommended to open short positions with the first target at 0.9915, 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 0.9870. The pivot point is at 0.9950. Resistance levels: 1.0040, 1.0080, 1.0110 Support levels: 0.9915, 0.9870, 0.9810. Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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