Technical analysis on EU,GU and major pairs-part 2

[johny5]

Technical analysis of USD/JPY for December 31, 2014

In Asia, Japan will not release any news but the US will release some economic data such as Crude Oil Inventories, Unemployment Claims, Natural Gas Storage, Pending Home Sales m/m, and Chicago PMI. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.
Resistance. 3: 119.90.
Resistance. 2: 119.67.
Resistance. 1: 119.45.
Support. 1: 119.15.
Support. 2: 118.92.
Support. 3: 118.68.

Performed by Arief Makmur, Analytical expert

 

[johny5]

Technical analysis of EUR/JPY for December 31, 2014

General overview for 31/12/2014 08:20 CET
The yesterday's intraday support has been taken out, the market has made a fresh new lows but it failed so far to follow through with the decline. The near-term outlook remains the same with two possible scenarios available. The main scenario indicates a completed corrective cycle in wave XX brown, and another leg to the downside is being expected to complete the last wave Z brown in wave 2 red. The alternate outlook indicates an unfinished wave XX brown in a shape of an irregular flat correction, where wave (a) and (b) blue are done and now wave (c) blue to the upside is anticipated. The confirmation of the main scenario comes with a rejection of the level of 146.43. On the other hand, the confirmation of the alternative outlook comes with a violation of the level of 146.43. Any new low below the level of 144.97 supports the main scenario.
Support/Resistance:
149.76 - Technical Resistance|Swing High|
148.35 - WR3
148.22 - Technical Resistance
147.74 - WR2
147.17 - WR1
147.13 - Intraday Resistance
146.54 - Weekly Pivot
146.44 - Intraday Resistance|Key Level|
145.92 - WS1
145.70 - Technical Support
145.39 - WS2
144.78 - Intraday Support|Swing Low|
144.82 - WS3
Trading recommendations:
Daytraders should refrain from trading for now. Please use tight SL orders as the end of the year liquidity is low and the market moves might get very sharp and sudden in either direction.

Performed by Sebastian Seliga, Analytical expert

 

[johny5]

Gold technical analysis for December 31, 2014

Gold price has held its support on Tuesday and made a big upward spike towards $1,210. This puts the short-term trend back into bulls' hands, but bears, I believe, have not said their final word. Gold price, although, it made a break above the short-term resistance trend line, has pulled back inside the bearish Ichimoku cloud.

Blue line = support
Gold price on the weekly chart continues to trade between the kijun-sen and the tenkan-sen. It continues to trade in the neutral area between important levels of $1,240 and $1,180. The Ichimoku cloud, however, remains above current weekly chart, and this implies that the longer-term trend is bearish. A close above the tenkan-sen will give gold price a push towards the cloud resistance. On the other hand, a close below the kijun-sen at $1,185 will be a bearish signal.

Performed by Alexandros Yfantis, Analytical expert

 

[johny5]

Technical analysis of EUR/USD for January 02, 2015

When the European market opens, some economic news will be released such as Final Manufacturing PMI, Italian Manufacturing PMI, Spanish Manufacturing PMI and Unemployment Change. The US will release its economic data too such as the ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. So amid the reports, EUR/USD will move low to medium volatility during this day.
Today's technical levels:
Breakout BUY Level: 1.2143.
Strong Resistance:1.2136.
Original Resistance: 1.2124.
Inner Sell Area: 1.2112.
Target Inner Area: 1.2084.
Inner Buy Area: 1.2056.
Original Support: 1.2044.
Strong Support: 1.2032.
Breakout SELL Level: 1.2025.

Performed by Arief Makmur, Analytical expert

 

[johny5]

Intraday technical levels and trading recommendations for GBP/USD for January 2, 2015

Consolidation movement ranging between the price levels of 1.5770 and 1.5550 represented the state of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.
As anticipated, the bearish breakout below 1.5550 directly exposed lower targets. The bears have already reached price level of 1.5440 that hasn't been visited since August 2013.
Potential projection target for this range breakout pattern should be located around 1.5330-1.5350.
On the other hand, 4H re-fixation above 1.5550 temporarily pauses the current bearish trend exposing higher SUPPLY levels (initially 1.5650) to be retested first.

Performed by Michael Becker, Analytical expert

 

[johny5]

Technical analysis of USD/JPY for January 02, 2015

In Asia, Japan will not release any economic data but the US will release its ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI data. So there is a big probability USD/JPY will move with low to medium volatility during the day.
Today's technical levels
Resistance. 3: 120.82.
Resistance. 2: 120.58.
Resistance. 1: 120.35.
Support. 1: 120.06.
Support. 2: 119.82.
Support. 3: 119.58.

Performed by Arief Makmur, Analytical expert

 

[johny5]

Technical analysis of gold for January 02, 2015

Technical outlook and chart setups:
Gold has again dropped into the support region of $1,170.00 as seen on the daily chart depicted here. Please note that a counter trend line (support) is being tested at the moment. Also note that a fibonacci convergence is seen around $1,166.00/70.00 price levels. A bullish bounce here is expected, and should be extremely encouraging for bulls. Immediate support is seen around $1,166.00 (fibonacci), followed by $1,143.00, $1,130.00 and lower, while resistance is seen at $1,210.00(interim), followed by $1,235.00, $1,255.00 and higher up respectively. It is still recommended to hold long positions and watch for a reaction at the trend line test.
Trading recommendations:
Remain long, stop below $1,250, target is open. Good luck!

Performed by Harsh Japee, Analytical expert

 

[johny5]

Daily analysis of silver for January 02, 2015

Overview
The H4 chart demonstrates today that silver still cannot break the support level of 15.50 and is currently trading above it and below the resistance level of 16.00, so we should wait for the mid-day closing. If the metal manages to close 4H below it, there might be a good opportunity to sell until it reaches the support level of 15.20 after closing 4H below. After that we should wait for breaking out this support level for the bearish move to continue . In case silver is able to break the support levels of 15.20 and closes 4H below them, we will get bearish strength which will provide new sell signals and enable the support level of 15.00 as a target level.
Resistance and support levels:
R3 (16.75), R2 (16.50), R1 (16.00),
S1 (15.50), S2 (15.20), S3 (15.00).

Performed by Hossam Soliman Ali, Analytical expert

 

[johny5]

Intraday technical levels and trading recommendations for EUR/USD for January 5, 2015

As anticipated previously, an obvious 4H break below 1.2150 exposed the full-range breakout projection target around 1.2000.
Following such a strong bearish swing, the market should be looking for a considerable DEMAND level to pause around.
The lower limit of the current movement channel has been breached after the bearish GAP that occurred at the market opening this Monday.
Further price action should be considered as the current price levels haven't been visited since May 2010.
Trade recommendations :
Risky traders should now be looking for LONG positions around these historical low prices after such quick bearish decline off 1.2550.
However, conservative traders should be looking for SHORT positions. Low-risk SELL entries can be taken around price level 1.2250 where a recent SUPPLY zone is located.

Performed by Michael Becker, Analytical expert

 

[johny5]

Intraday technical levels and trading recommendations for GBP/USD for January 5, 2015

Consolidation movement ranging between the price levels of 1.5770 and 1.5550 represented the state of indecision on the market after such a long bearish rally that started off 1.7100 and 1.6500.
As anticipated, the bearish breakout below 1.5550 directly exposed lower targets. The bears have already reached price level of 1.5170 that hasn't been visited since August 2013.
Potential projection target for flag continuation pattern should be located around 1.5140 where the lower limit of the current movement channel is located.
Conservative traders should wait for a bullish pull-back towards the recent SUPPLY zone around 1.5480-1.5550 for a low-risk SELL entry. Stop Loss should be located above 1.5560.
Note that, price level of 1.5480 corresponds to 50% Fibonacci level as well as multiple previous bottoms established back in December.

Performed by Michael Becker, Analytical expert