EUR/USD Buy Above 1.3005 (fractal) For October 31, 2012 (Daily Strategy) Trend News

The euro yesterday exceeded the weekly pivot 1.2967 and managed to return back to Fractal 1.3005, up 1.3020. Now it is showing a small correction, it is likely that the euro could fall to 1.2920, but the most likely that if the pair traded above 1.2967, the bullish movement extends to 1.3120. There are many resistances above 1.3150, and it will be very difficult to reach the 1.35 level key operators.

According to the chart, we can see that the euro is above the main uptrend and below the secondary downtrend line. The break of 1.3120 will be the start for the pair to reach the levels of 1.33 and 1.35. On the other hand, if the main trend line is broken and if the pair closes below the 200 day moving average periods, a fall to 1.25 will be started. Now we're stuck in a consolidation of the euro. So we must be very careful.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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GBP/USD Sell Below Fractal 1.6135. For October 31, 2012 (Daily Strategy) Trend News

The GBP/USD pair has been trading below the secondary downtrend line, as you could see on the chart. From the technical point of view, it appears that the bullish strength in this pair is running out, and it is likely that for the next few days this pair will be trading near the 200 day moving average period (blue) around 1.5850. So we recommend selling the pair below the trend line, around 1.6125 with objectives to the psychological level of 1.60. If the downtrend continues, keep order until 1.5850.

Moreover, a breakdown of downtrend line will enable the start of an upward movement to1.63. Thus, we recommend buying above the bearish channel.

It is recommended to operate with low leverage on these markets. Place always stop loss.

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NZD/USD Analysis for October 31, 2012 Trend News

Daily



The New Zealand dollar still cannot consolidate above the correctional level 76.4% - 0.8230 of Fibonacci against the dollar and it is near the greenback for a fifth consecutive day. The formation of two bearish patterns has not influenced the market yet. The pair can neither turn in favor of the U.S. dollar nor continue the growth in favor of the New Zealand dollar. If the rebound from the correctional level 76.4% of Fibonacci is observed, then it may enable the drop towards the level of correction 61.8% - 0.8083. The consolidation of the rate above the correctional level of 76.4% can make possible the continuation of growth towards the correctional level of Fibonacci 100.0% - 0.8471. The next formation of a bearish candlestick pattern gives a chance to wait for a rebound. However, having two harami patterns we do not have it.

4h



The rebound from the correctional level 38.2% - 0.8187 of Fibonacci enabled the pair to turn in favor of the New Zealand dollar on the H4 and to start the next uptrend towards the level of correction 23.6% - 0.8251. On the daily chart this correctional level of 76.4% of Fibonacci may hinder the growth considerably as it has not been broken trough for a fifth consecutive day. Thus, the pair may turn in favor of the U.S. dollar on the H4, even if it has not reached the correctional level 23.6% of Fibonacci. Two bearish harami patterns were built; it may influence the price swing towards U.S. dollar and drop towards 38.2% of Fibonacci. If the pair consolidates above the correctional level 23.6% of Fibonacci on both charts, then the continuous growth of the rate towards the level of 0.0% - 0.8355 of Fibonacci.

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USD/SGD Wave Analysis for October 31, 2012 Trend News

USD/SGD Elliott Wave

Last week the USD/SGD pair was trading in a downward move, impulsive wave (5) (coloured green) of the bigger wave (3) (coloured orange) was developing. Yesterday during the Asian and European sessions we could observe strong descending movement from 1.2222 towards the 1.2195 level. Therefore, during the New York session the USD/SGD pair continued trading in a bearish mood and the price reached a new daily low at 1.2185 level. Today this exotic pair is trading around 1.2205 level and we are expecting to see the price around 1.2160 level soon. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit 1 at 1.2160 (100% of wave 1) and take profit 2 at 1.2114 (161.8% of wave 1). To reduce the risk, we can use invalidation at 1.2234 level as stop loss.



Support and Resistance

(S3) 1.2162 (S2) 1.2177 (S1) 1.2187 (PP) 1.2203 (R1) 1.2218 (R2) 1.2228 (R3) 1.2244



Trading Forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.2195 with stop loss 1.2234, take profit 1 at 1.2160, and take profit 2 at 1.2114 are recommended.

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USD/CAD Wave Analysis for October 31, 2012 Trend News

USD/CAD Elliott Wave

For the last few week the USD/CAD pair was trading in an upward move, corrective wave (c) (coloured orange) of the bigger 4 wave (coloured purple) was developing. Yesterday during the Asian session we could observe ascending movement towards the 1.0018 level and we can consider this move as the end of the impulsive (5) wave (coloured green) of the bigger wave (c) (coloured orange). Therefore, during the European and New York sessions this major pair started pushing lower when development of the final impulsive 5 wave (coloured purple) starts. At the moment the USD/CAD pair is trading around 0.9990 level and we are expecting to see price around 0.9560 level in the next few weeks. In accordance with our wave rules and taking into account that the wave 5 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit 1 at 0.9736 (100% of wave 1) and take profit 2 at 0.9560 (161.8% of wave 1). To reduce the risk, we can use invalidation at 1.0019 level as stop loss.

Support and Resistance

(S3) 0.9963 (S2) 0.9976 (S1) 0.9985 (PP) 0.9999 (R1) 1.0012 (R2) 1.0021 (R3) 1.0035



Trading Forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.9880 with stop loss 1.0019, take profit 1 at 0.9736, and take profit 2 at 0.9560 are recommended.

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EUR/USD Intraday Technical Analysis and Trading Recommendations for October 30, 2012 Trend News

The EUR/USD market has been bearish for the last couple of weeks since finding resistance near 1.3140.

The EUR/USD pair attempted to push lower last week, but found a good support at the lower limit of the bullish channel depicted on the DAILY chart above and failed to close outside/below the lower limit giving a bullish hammer daily candlestick. However, yesterday, the pair expressed obvious bearish daily candlestick closure outside the channel, although it failed to break the low of Friday's daily candlestick.

If the market consolidates above 1.2875, it respects the trendline. However, a clear break below 1.2850 is likely a confirmed break of the trendline.

The bias is bullish in the short term, especially if price is able to make a clear break above 78.6% Fibonacci Level around price level of 1.3015 allowing the pair to reach 1.3070 initially.

The H&S bearish scenario (4H chart) also remains intact; but an obvious break back below 1.2950 is needed to continue the bearish pressure retesting the lower limit of the bullish channel and 1.2900 Price Zone.

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Silver Recommendation: Buy On Dips. Look Higher Trend News

Technical Analysis and Chart Setups:

The bullish outlook remains unchanged for the metal. After moving a bit sideways for a few sessions, silver is preparing for break higher from here on. The support at 30.20 level is intact and it instills confidence that this bull trend maybe setting up to register higher highs. A clear break of 32.50 is still required to rule out further downside from here on. 33.20/30, 34.30, and 35.00 are the lined up resistances to be taken off in the coming sessions. Buying dips should be trading mantra for now.

Trading Recommendations:

Hold on long positions. Build further long positions. Stop at 31.00. Target Open.

Good Luck!

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Gold: Low Seems To Be Placed At 1,700.00 Level. Look Higher Trend News

Technical Outlook and Chart /setups:

There is no change in the above structure. The yellow metal has held 1,700.00 level well and bulls would be targeting 1,730.00 level immediately (R1 on the charts). Trading above 1,730.00 level would bring back the metal in the buy zone above dropping trendline. 1,685/90 levels are strong support; prices are bouncing off just ahead. 1,750, 1,775, and 1,795 are the line resistance levels after 1,730.00. Also, in the short term support trend line is opening up for a rally to materialize, carving fresh highs. Bottom line; buy on dips for now.

Trading Recommendations:

Hold on to long positions taken earlier. Buy on dips and add further long positions. Stop at 1,680.00. Target Open.

Good Luck!

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EurJpy Bounces From Past Resistance Turned Support; Hold On To Long Positions Trend News

Technical Outlook and Chart Setups:

The single currency seems to be bouncing from the past resistance turned support levels around 102.50. Furthermore, the 0.5 Fibonacci support ratio is also at 102.35 level. A bullish turnaround from here would possibly carve out fresh highs in the coming sessions. Supports are well placed at 101.00 level followed by 100.00. Also, trendline support is just below 102.00 level at the moment. Intermediary resistance is placed around 103.20, followed by 104.20/30. Considering the above facts and the current chart setup, it is recommended to keep buying on intraday dips for a higher target ahead.

Trading Recommendations;

Hold on to long positions taken from yesterday. Stop below 101.00. Target 104.75.

Good Luck!

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GbpChf: Buy Between 1.49-1.4950 Trend News

Technical Outlook and Chart Setups:

The single currency pair has retraced to 1.5 level since yesterday. Implications are around 1.49-1.4950 levels, these ones would be the optimum buy levels. Intermediary support remains unchanged at 1.48 level, while resistance is just above 1.53 level. It is recommended to start buying at these levels (aggressive trading approach) and add further long positions on dips towards 1.4950 from here on. We are retracing the bull run between 1.48 and 1.51 at the moment. Higher implications would be 1.52 and 1.53 at least. Buy on dips for now.

Trading Recommendations:

Buy around 1.4950 level. Stop at 1.48. Target Open.

Good Luck!

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USD/CHF: Technical Analysis for October 30-31, 2012 Trend News

Forecast:

Strong level (Resistance) will be formed at 0.9430 providing a clear signal for sell deals with the target seen at 0.9320 level. Stop loss is to be placed above 0.9475.

Strong level (Support) will be formed at 0.9240 providing a clear signal for buy deals with the target seen at 0.9380 level. Stop loss is to be placed below 0.9200.

Overview:

USD/CHF: It is necessary to consider that the price is still located between points of 0.9320 and 0.9370, i.e. above the strong resistance level of 0.9430. The pair has already formed a strong resistance at this level of 0.9430 and is presently approaching to the further testing. Therefore, the Swissie is expected to go downwards following the structure which does not look corrective and indicating the bearish opportunity below 0.9430 level. Sell deals are recommended below 0.9430 with the first target seen at 0.9390 level. Thus, the downtrend is likely to continue the bearish movement towards 0.9320 level. Moreover, it is crucial that the price has probably formed a strong support at 0.9240. The saturation is likely to take place around 0.9240. Therefore, it is possible that the market will start showing the signs of a bullish behavior. In other words, buy deals are recommended above 0.9240 with the first target seen at 0.9280 level and if the weekly pivot point (0.93220) will be broken successfully, then the pair will go further at 0.9380 level. It should be noted that the resistance becomes a support after it is broken.



Weekly Pivot Points:

R3: 0.9518

R2: 0.9445

R1: 0.9395

PP: 0.9322

S1: 0.9272

S2: 0.9199

S3: 0.9149

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GOLD Wave Analysis for October 30, 2012 Trend News

Gold Elliott Wave

Since our last analysis gold was trading in a downward move, corrective wave 2 (coloured blue) of the bigger wave (3) (coloured green) was developing. During the Monday's Asian session we could observe ascending movement from 1,710.19 toward the 1,716.43 level. Therefore, during the European and New York sessions this commodity did not manage to hold this level and price drop to the new daily low at 1,705.20 level. We can consider this move as the end of the 2 wave (coloured blue). At the moment gold is developing impulsive 3 wave (coloured blue) of the bigger (3) wave (coloured green) and we are expecting to see price around 1,732.50 level today. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit 1 at 1,732.52 (161.8% of wave 1) and take profit 2 at 1,749,25 (261.8% of wave 1). To reduce the risk, we can use invalidation at 1,698.74 level as stop loss.

Support and Resistance

(S3) 1,664.2 (S2) 1,681.4 (S1) 1,696.7 (PP) 1,713.9 (R1) 1,729.2 (R2) 1,746.4 (R3) 1,761.7



Trading Forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1,714.00 with stop loss 1,698.74, take profit 1 at 1,732.52, and take profit 2 at 1,749.25 are recommended.

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Gold: Buying On Dips Is Recommended Trend News

Technical Outlook and Chart Setups:

Fridays' rally has made a small sequence of higher highs and higher lows till now. Intermediary support is at 1,698.00 and it is expected to hold further as well. Strong support is 1,685/90 and by the time prices are above these levels, we are expecting the yellow metal to carve out higher highs and higher lows. The next lined up resistances are as follows: 1,730.00, 1,751.00, 1,775.00, and 1,795.00. Buy on intraday dips.

Trading Recommendations:

Hold on to long positions. Stop at 1,680.00. Target Open for now.

Good Luck!

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Silver: It Is Recommended To Buy Intraday Dips Trend News

Technical Analysis and Chart Setups:

Buying on dips is recommended in silver. The metal has been showing signs of bottom formation around 31.50 since last 2-3 trade sessions. Fridays' rally was good enough. If the rate passes through 32.50, then it instills further confidence in our bullish stance. 30.20 is strong support and by the time prices are above that level, the metal is headed north. Resistances are lined up as follows: 32.50, 33.20/30, 34.30, and 35.00. Long for now.

Trading Recommendations:

Hold on to long positions taken earlier. Stop at 31.00. Target Open.

Good Luck!

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EURJPY At Past Resistance Level Trend News

Technical Outlook and Chart Setups:

Till now, the measured resistance at 104.20/30 levels have played out well. No doubt, a small stop was triggered last week while going long. Nevertheless, the single currency pair is again wanting to establish support around the past resistance region. Strong Fibonacci support will be offered around 101.80. Looking into the risk/reward ratio, it is recommended to build long positions between 101.50-102.00. If the support trendline breaks, we shall think about selling the pair considering that a top may be in place around 104.50. By the time prices are above 101.50, 104.75 remains a possibility. Buy on dips.

Trading Recommendations:

Buy 50% now (around 102.50/60) and 50% in the range 101.50 to 102.00 (if prices reach the level). Stop at 101.00. Target 104.75.

Good Luck!

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GbpChf Takes Out 1.5100, Expect A Pullback Before Further Rally Trend News

Technical Analysis and Chart Setups:

After getting stopped out, it is necessary to re-evaluate the chart setup above before entering again. It is clear that 1.4700 support has held strong till now and it continues in the coming sessions as well. Bulls have taken out further the first intermediary resistance around 1.5100 level. The most probable move from here on should be a pullback towards 1.4900-1.4950 in the coming sessions. Therefore, it is recommended to stay away for now and wait for a pullback to materialize towards 1.4950 level to enter long positions. Intermediary support comes just above 1.4800.

Trading Recommendations:

Flat for now. Looking to go along near 1.4950.

Good Luck!

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NZD/USD: Weekly Technical Levels for October 29 - November 2, 2012 Trend News

Weekly Technical Levels:

Tip (s):

R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.

Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines.

Within a strong trend the price is expected to be lower than the pivot point line and continue the movement.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.



Observation (s):

If the trend is of an upside character, then the strength of the currency will be defined as following: NZD is an uptrend and USD is a downtrend.

Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.

Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, sure you will lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market has a high volatile if the last day had a huge volatility.



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USD/CHF: Weekly Technical Levels for October 29 - November 2, 2012 Trend News

Weekly Technical Levels:

Tip (s):

R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.

Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines.

Within a strong trend the price is expected to be lower than the pivot point line and continue the movement.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.



Observation (s):

If the trend is of an upside character, then the strength of the currency will be defined as following: USD is an uptrend and CHF is a downtrend.

Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.

Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, sure you will lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market has a high volatile if the last day had a huge volatility.



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NZD/USD Analysis for October 29, 2012 Trend News

Daily



The New Zealand dollar has been trading in the range 76.4% - 0.8229 to 61.8% - 0.8083 of correctional levels of Fibonacci against the dollar for a couple of weeks. After the bullish engulfing pattern was formed the rate reversed to the level of correction 76.4%. As a result, a rebound and turn in favor of U.S. dollar may occur. Then, the drop towards the level of correction 61.8%, which has not been reached yet, may resume. The bearish harami, which was built, enables the pair to rebound from the level of correction 76.4%. The unexpected rate’s consolidation above the correctional level of Fibonacci 76.4% enables the rate to rise towards 100.0% - 0.8469 of Fibonacci.

4h



On the 4H chart, after the bullish harami was built, the rate consolidated above the correctional level of Fibonacci 38.2% - 0.8187. As a result, the pair has an opportunity to continue an upward move towards the level of correction 23.6% - 0.8251. However, a bearish candlestick formation shooting star was built; it may enable the pair to turn in favor of the U.S. dollar and a drop towards the level of correction 38.2% may start. If the rate does not break through the top of the formation, then the possibility of a drop increases. The consolidation of rates above the level of Fibonacci 23.6% enables the pair to continue growth towards the level of correction 0.0% - 0.8355; especially if it coincides with the consolidation of the rate above 76.4% of Fibonacci on a daily chart.

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AUD/USD Wave Analysis for October 29, 2012 Trend News

AUD/USD Elliott Wave

Since our last analysis the AUD/USD pair was trading in a sideways move, impulsive wave 1 and corrective wave 2 (coloured blue) of the bigger wave (3) (coloured green) is developing. During the Friday's Asian session we could observe descending movement towards the 1.0305 level and we can consider this move as the end of the wave 1 (coloured blue). Therefore, during the European and New York sessions this currency pair did not manage to hold this level and price reached a new daily high at 1.0385 level. We can consider this move as the end of the wave 2 (coloured blue). The AUD/USD pair is trading around 1.0347 level at the moment and we are expecting to see continuation of the bearish mood for the next few days. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit 1 at 1.0294 (100% of wave 1) and take profit 2 at 1.0237 (161.8% of wave 1). To reduce the risk, we can use invalidation at 1.0385 level as stop loss.

Support and Resistance

(S3) 1.0274 (S2) 1.0304 (S1) 1.0323 (PP) 1.0354 (R1) 1.0384 (R2) 1.0403 (R3) 1.0434

Trading Forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0340 with stop loss 1.0385, take profit 1 at 1.0294, and take profit 2 at 1.0237 are recommended.

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GBP/USD: Weekly Technical Levels for October 29 - November 2, 2012 Trend News

Weekly Technical Levels:

Tip (s):

R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.

Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines.

Within a strong trend the price is expected to be lower than the pivot point line and continue the movement.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.



Observation (s):

If the trend is of an upside character, then the strength of the currency will be defined as following: GBP is an uptrend and USD is a downtrend.

Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.

Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, sure you will lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market has a high volatile if the last day had a huge volatility.





If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

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EUR/USD: Weekly Technical Levels for October 29 - November 2, 2012 Trend News

Weekly Technical Levels:

Tip (s):

R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.

Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines.

Within a strong trend the price is expected to be lower than the pivot point line and continue the movement.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.



Observation (s):

If the trend is of an upside character, then the strength of the currency will be defined as following: EUR is an uptrend and USD is a downtrend.

Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.

Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, sure you will lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market has a high volatile if the last day had a huge volatility.





If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

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USD/CAD Intraday Technical Analysis and Trading Recommendations for October 29, 2012 Trend News

The USD/CAD bullish movement managed to break above the upper limit of the depicted long-term channel (0.9725). It was considered to be a bullish signal in the long term with a confirmed bullish 123 reversal pattern appearing on the DAILY chart targeting 0.9980 which was hit earlier today.

Last week, considerable bullish price action was expressed towards 0.9770 (the newly established ascending bottom) which is considered to be a quite strong bullish manifestation.

Price zone 0.9820 - 0.9850 is now considered to be an Intraday Support zone. In order to resume the targets for the bullish patterns targeting around 0.9980 there should remain consolidating above this zone.

Price area 0.9960-0.9975 corresponding to the upper limit of the newly established 4H bullish channel is considered to be a strong Intraday Resistance zone where a bearish retracement would probably take place towards 0.9820 - 0.9850 before further continuation of the bullish movements.

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EUR/USD Testing Key Trendline Support for October 29, 2012 Trend News

The EUR/USD market has been bearish for the last couple of weeks since finding resistance near 1.3140.

The EUR/USD pair attempted to push lower last week, but found a good support at the lower limit of the bullish channel depicted on the DAILY chart above and failed to close outside/below the lower limit giving a bullish hammer daily candlestick.

If the market consolidates above 1.2875, it respects the trendline. However, a clear break below 1.2850 is likely a confirmed break of the trendline.

The bias is bullish in the short term, especially if price is able to make a clear break above 78.6% Fibonacci Level around price level of 1.3015 allowing the pair to reach 1.3070 initially.

The H&S bearish scenario (4H chart) also remains intact; but an obvious break back below 1.2950 is needed to continue the bearish pressure retesting the lower limit of the bullish channel and 1.2900 Price Zone.

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Fundamental Analysis For October 26, 2012 Trend News

The data on U.S. GDP for the third quarter is just published. The 2% growth shows modest but sustained recovery in the world's largest economy just few days before the presidential election.

The first impact, as reflected in the Dow Jones index futures was very positive. It left its quote, in principle, the uptrend line in weekly chart of 13 months, and the breakdown could mean a change in direction of the index in the medium term.

Also, the data favored, at least in the minutes after publication, to the European currencies. They are mixed against the dollar.

While the euro plummets and touched 1.2880 the British pound is reaching highs of several days, driven by the first positive UK GDP in four quarters published on Thursday.

However, today's data could unify the behavior of leading currencies against the dollar, which in turn, would fall in good shape in the American session if, as expected, NYSE actions take bullish strength.

However, as shown and as has occurred throughout this month, the prices of the major pairs move very cautiously, in very narrow ranges, giving good opportunities in the short term, but longer trends jolting.

The consumer confidence data issued by the University of Michigan will be published at 9:55 shaping trends that are likely to begin to take shape with the opening bell for the U.S. trading session.

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GBP/JPY Technical Levels and Trading Recommendations for October 26, 2012 Trend News

Overview

The H4 chart demonstrates today that the pair takes a downward move after its failure to break the Resistance level of 129.75. Currently, the pair is trading between the Support level of 128.40 and the Resistance level of 129.05. Given that the pair continues its bearish move and manages to break this Support level and closes 4H below, we will receive a strong indicator for more bearish signals which will enable the Support level of 127.80 as a level target. Then we should wait for breaking of this Support level to continue the downward move and the way towards the Support level of 127.10 will be open.

On the other hand, if the pair fails to break the Support level of 128.40 and bounces from it, it may reverse the bearish move taking an upward move enabling the Resistance level of 129.05 again. Then we should wait for breaking this Resistance level to provide new bullish signals. In case the pair is able to break the Resistance level and closes 4H above, we will get a bullish strength providing new buy signals enabling the Resistance level of 129.75 as a level target. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level of 128.40 is unbroken, the upward move is still expected invalidating the bearish outlook.

Resistance and Support Levels

R3 (130.00)

R2 (129.75)

R1 (129.05)

S1 (128.40)

S2 (127.80)

S3 (127.10)

Trading Recommendations

According to the previous analysis, we recommend selling after breaking the Support level of 128.40 and closing 4H below with TP 127.75; SL closing 4 hours above the Support level will be appropriate.

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Silver Prepares For A Rally. Buing Intraday Dips Recommended Trend News

Technical Outlook and Chart Setups:

It seems that silver is retracing yesterday’s rally through 32.25 levels. It is expected that 31.50 level should be held as well as intermediary support; while 30.20 level is strong support for the metal. Next resistance comes in at 32.50 level as it was depicted above. Immediate bullish target for the metal is getting past the 32.50 level before taking on the lined up resistance levels till 35.00. A bullish reversal from here on (31.50 level should be held now), would take the metal comfortably past the 35.00 level towards 37.00 and higher. Long for now.

Trading Recommendations:

Stay long for now, stop at 31.00, and target open. Intraday dips are buying opportunities.

Good Luck!

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Gold Setting Up For A Rally. Buy On Dips Trend News

Technical Outlook and Chart Setups:

Believe it or not, gold maybe setting up for an aggressive rally taking out resistances lined up higher. The bottom line is 1,690.00 and it should be held. Looking into the chart story for the last 24 hours; the yellow metal raced through 1,715.00 level during the present retracing. The lows are being held well till now and a positive/constructive reaction is expected. Immediate bullish target for gold is 1,730.00 level by today or Monday. It is further emphasized that 1,690/95 levels should be held for this count to be true. Bullish for now.

Trading Recommendations:

Hold long positions taken earlier. Stop at 1,680.00. Target open.

Good Luck!

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EUR/CHF: Technical Analysis (Long Term) for October 26, 2012 Trend News

Forecast:

At 1.2 / 1.206 a strong level (Support) will be formed providing a clear signal for buy deals with the target seen at the 1.2270 level. Stop loss is to be placed below 1.1850.

Overview:

EUR/CHF: The market is still showing signs of strength following the break above 1.2000, now it could rebuy at the spot of 1.2060. Therefore, it will turn to a strong support. In such case, a stronger rise should be seen towards 1.2270 resistance for confirmation. Moreover, the trend is still above 50% Fibonacci retracement level, thus it will be a good sign to buy above 1.2 (rebuy at 1.2060), and sell below 1.1950.

Types of Analysis:

- Fundamental analysis: the Swissie is also quoted amid the promise to “buy unlimited euro” in order to support this market.

- Technical analysis: on a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels), then it indicates a bullish market.

- Sentiment analysis: psychological level is at 1.2000, in this case one should be patient to keep the trade till the end.

- Money management: always invest 3% - 7% of the capital (composite) per all trades, always risk (stop loss) 1% - 5% of the capital per all trades, and always trade high risk ratio - trade at least 1/2.

- Period: long-term.

- Stop loss must be set at 1.1950.

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NZD/USD: (Bearish Market: 0.8233) Technical Analysis for October 26, 2012 Trend News

Overview:

The NZD/USD pair is expected to continue the movement from the point of 0.8165. Thus, the kiwi shows the signs of strength, following the breakdown of the highest level 0.8165. This fact can be considered as a good signal for BUY deals above this strong support (0.8165) with the first targets at 0.8230 (it will serve as a strong resistance level and is considered to be appropriate for take profit orders). It is necessary to mention that this level will coincide with the weekly resistance 2 (0.8287). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8287, the market will show a further decline to the level of 0.8165 (it is the weekly pivot point) indicating a bearish mood in order to retest the weekly support 1 at the level of 0.8103.

Weekly Pivot Points:



R3: 0.8344

R2: 0.8287

R1: 0.8222

PP: 0.8165

S1: 0.8100

S2: 0.8043

S3: 0.7978



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USD/CAD Intraday Technical Analysis and Trading Recommendations for October 25, 2012 Trend News

The USD/CAD bullish movement managed to break above the upper limit of the depicted long-term channel (0.9725). It was considered to be a bullish signal in the long term with a confirmed bullish 123 reversal pattern appearing on the DAILY chart. It is targeting 0.9980 as long as the pair is consolidating above 0.9880.

Last week, considerable bullish price action was expressed towards 0.9770 (the newly established ascending bottom) which is considered to be a quite strong bullish manifestation.

Price zone 0.9820 - 0.9850 is now considered to be an Intraday Support zone. In order to resume the targets for the bullish patterns targeting around 0.9980 there should remain consolidating above this zone.

Price area 0.9960-0.9975 corresponding to the upper limit of the newly established 4H bullish channel is considered to be a strong Intraday Resistance zone where a bearish retracement is probably taking place towards 0.9820 - 0.9850 before further continuation of the bullish movement.

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AUD/USD Wave Analysis for October 25, 2012 Trend News

AUD/USD Elliott Wave

Since our last analysis the AUD/USD pair was trading in an upward move, corrective wave C (coloured blue) of the bigger wave (2) (coloured green) was developing.

Yesterday during the Asian and European sessions we could observe strong ascending movement from 1.0258 towards the 1.326 level. Therefore, during the New York session the

AUD/USD pair continued trading in a bullish mood and price reached a new daily high at 1.0365 level. Today this currency pair finished developing of the corrective C wave and we are expecting to see price lower when development of the impulsive (3) wave (starts).

In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1, with take profit at 1.0209 (100% of wave 1). To reduce the risk, we can use resistance at 1.0410 level as stop loss.



Support and Resistance

(S3) 1.0220 (S2) 1.0261 (S1) 1.0286 (PP) 1.0327 (R1) 1.0368 (R2) 1.0393 (R3) 1.0434

Trading Forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0355 with stop loss 1.0410 and take profit at 1.0209 are recommended.

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GOLD Wave Analysis for October 25, 2012 Trend News

GOLD Elliott Wave

Gold was trading in a downward move yesterday, corrective (C) wave (coloured green) of the bigger wave (4) (coloured orange) was developing.

During the European session we could observe sideways move between 1,711.85 and 1,705 level. Therefore, during the early New York session this commodity did not manage to hold this levels and price pushed lower reaching a new low at 1,698.74 level and we can consider this move as the end of the 5 wave (coloured blue) of the bigger wave (C) (coloured green). Gold is trading around 1,711 level at the moment and we are expecting to see price higher in the next few days.

In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1,808.42 (100% of wave 1). To reduce the risk, we can use invalidation at 1,698.74 level as stop loss.



Support and Resistance

(S3) 1,679.0 (S2) 1,688.9 (S1) 1,695.5 (PP) 1,705.4 (R1) 1,712.0 (R2) 1,721.9 (R3) 1,728.5

Trading Forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1,715.00 with stop loss 1,698.74 and take profit at 1,808.42 are recommended.

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Gold Holds 1,700.00 And Rallies Through 1,713.00 Level. Reversal / Pullback Due Trend News

Technical Outlook and Chart Setups:

Gold threatened to break past 1,700.00 levels last evening but managed to hold it good and further follow it up through 1,713.00 level. This is an indication that further gains are lined up from here on. Any intraday pullbacks from here should be considered as opportunities to go long again. Immediate support is placed and intact at 1,695/90 levels. The next resistance level is lined up at 1,730.00 levels. This would instill further confidence in the bullish structure. It is recommended to look for buying opportunities.

Trading Recommendations:

Stay long for now. Stop at 1,680.00 level. Target open.

Good Luck!

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Silver Bullish Setup Materializes... Buying On Dips Recommended Trend News

Technical Outlook and Chart Setups:

Silver rallies through 32.00 level indicating further bullish scenario for the metal in the coming sessions. The next resistance is placed at 32.50 and a push through it will further confirm strength here. Support remains strong at 30.20 level. It appears that the pullback from sub 35.00 level may be over near 31.60 level (around yesterday’s lows). It is recommended to stay long and look to add positions on intraday dips from here on. Next immediate bullish target is 32.50 level. Long for now.

Trading Recommendations:

Stay long for now and add on intraday dips. Stop at 31.00. Target open.

Good Luck!

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EurJpy May Spike To 104.70 Levels Before Pulling Back Trend News

Technical Outlook and Chart Setups:

As it was depicted above, the short-term support at 103.00 was broken yesterday. It is quite possible that the single currency pair rallies through the resistance area around 104.20/30; then a pullback occurs. On the other hand, a possibility still remains for a rally through 104.75 region before a meaningful reversal materializes. Either way, it is recommended to look for selling opportunities. Intermediary support is placed at 101.75, followed by 101.00 and 100.00 respectively. Resistance is placed at 104.50/60 at the moment.

Trade Recommendations:

Look for selling opportunities around 104.20/30 or 104.70 region, stop at 105.50. Target at least 102.00.

Good Luck!

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GbpChf Meets Resistance At 1.4950 Trend News

Technical Outlook and Chart Setups:

As we discussed yesterday, the single currency pair has fulfilled expectations of rising through the resistance area around 1.4950 region. As it was depicted above, this region is reinforced by the trend line resistance and also the past resistance turned support region. A reaction is expected around price range 1.4950/60. It is highly recommended to give respect to the bearish setup until the R1 is intact i.e. around 1.5050 as shown above. If a bearish setup is materialized here, expect 1.4700 to be the minimum downside target.

Trading Recommendations:

Short now (1.4950). Stop at 1.5100. Target at 1.4700.

Good Luck!

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NZD/USD: Technical Analysis for October 25, 2012 Trend News

Overview:

The NZD/USD pair is expected to continue the movement from the point of 0.8165. Thus, the kiwi shows the signs of strength, following the breakdown of the highest level 0.8165. This fact can be considered as a good signal for BUY deals above this strong support (0.8165) with the first targets at 0.8230 and 0.8290 (it will serve as a strong resistance level and is considered to be appropriate for take profit orders). It is necessary to mention that this level will coincide with the weekly resistance 2 (0.8287). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8287, the market will show a further decline to the level of 0.8165 (it is the weekly pivot point) indicating a bearish mood in order to retest the weekly support 1 at the level of 0.8103.

Weekly Pivot Points:



R3: 0.8344

R2: 0.8287

R1: 0.8222

PP: 0.8165

S1: 0.8100

S2: 0.8043

S3: 0.7978



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Silver Holding 31.60/80 Levels. Short-term Charts Signalling A Possible Bullish Reversal Trend News

Technical Outlook and Chart Setups:

As depicted above, silver is still holding support region around 31.60/80 levels. Furthermore, strong support is around 30.20 levels. Short-term charts (15min-1hour) are beginning to show signs of reversals, but resistance which is now placed at the 32.50 region needs to be broken to confirm a bullish reversal. The long-term trend set-up should be taken into consideration. It is still recommended to stay long and add positions on dips. Our risk is around 31.00 region for now.

Trading Recommendations:

Stay long for now. Stop at 31.00. Target open (fresh highs).

Good Luck!

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Gold Holds Above 1,700.00. Short Time Charts Indicate A Reversal Trend News

Technical Outlook and Chart Setups:

Gold holds support region around the 1,700.00 range. It is also reinforced by the past resistance turned support area as seen on the charts (dotted price line). Furthermore, the 1,690.00 region is also strong support and our stops are just below that region at 1,680.00. Short-term charts (15min-1hour) are showing signs of a reversal; currently prices are around 1,711-1,712 region and a push through 1,725-30 levels today will confirm a bullish reversal. Immediate resistance is at 1,730.00 level now. Long for now.

Trading Recommendations:

Stay long for now. Stop at 1680.00. Target open (new highs).

Good Luck!

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