GBP/USD Intraday Technical Analysis and Trading Recommendations for October 22, 2012 Trend News

GBP/USD expressed daily closure below the lower limit of the depicted bullish channel which extended the bearish movement towards 1.5970 which has been providing considerable support for the pair.

The lower limit of the depicted 4H channel provided considerable support pushing the GBP/USD pair to the upper limit of the bearish 4H channel around 1.6170 which acted as intraday resistance.

The lower limit of the broken DAILY channel was retested around the price zone of 1.6160 - 1.6180 last week. It triggered a suggested SELL entry with SL located above 1.6215 which is running in profits.

Some profits should have been taken off the SELL entry in order to avoid possible short-term bullish retracement.

Price Action towards DAILY SUPPORT around 1.5960 and 50% Fibonacci around 1.5920 should be watched as it is considered to be a strong Intraday Support Level.

Support: 1.6020, 1.5960, and 1.5920.

Resistance: 1.6070, 1.6125, 1.6070, 1.6175, and 1.6260.

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USD/CAD Intraday Technical Analysis and Trading Recommendations for October 22, 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 fixating 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 would probably take place towards 0.9820 - 0.9850 before further continuation of the bullish movement starts.

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NZD/USD: Weekly Technical Levels for October 22 - 26, 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 level 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'll 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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For detail explanation and best discovery on market trends you may visit via NZD/USD: Weekly Technical Levels for October 22 - 26, 2012 . Thanks for your support on NZD/USD: Weekly Technical Levels for October 22 - 26, 2012

USD/CHF: Weekly Technical Levels for October 22 - 26, 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 level 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'll 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.

The material has been provided by Instaforex Company - instaforex.com



For detail explanation and best discovery on market trends you may visit via USD/CHF: Weekly Technical Levels for October 22 - 26, 2012 . Thanks for your support on USD/CHF: Weekly Technical Levels for October 22 - 26, 2012

GBP/USD: Weekly Technical Levels for October 22 - 26, 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 level 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'll 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.

The material has been provided by Instaforex Company - instaforex.com



For detail explanation and best discovery on market trends you may visit via GBP/USD: Weekly Technical Levels for October 22 - 26, 2012 . Thanks for your support on GBP/USD: Weekly Technical Levels for October 22 - 26, 2012

EUR/USD: Weekly Technical Levels for October 22 - 26, 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 level 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'll 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.

The material has been provided by Instaforex Company - instaforex.com



For detail explanation and best discovery on market trends you may visit via EUR/USD: Weekly Technical Levels for October 22 - 26, 2012 . Thanks for your support on EUR/USD: Weekly Technical Levels for October 22 - 26, 2012

GOLD Wave Analysis for October 22, 2012 Trend News

GOLD Elliott Wave

Last Friday Gold was trading in a downward move like we expected; final (C) wave (coloured green) of the bigger wave (4) (coloured orange) is developing. During the European session we could observe descending movement from 1,742.66 towards the 1,730.72 level. Therefore, during the early New York session Gold continued trading in a strong bearish mood and price reached 1,712.98 level. We can consider this move as the end of the corrective wave (4) (coloured orange). At the moment this commodity is trading around 1,721.30 level and we are expecting to see price around 1,823 level 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 1,823.39 (100% of wave 1). To reduce the risk, we can use invalidation at 1,713.71 level as Stop Loss.

Support and Resistance

(S3) 1681.5 (S2) 1698.7 (S1) 1710.2 (PP) 1727.4 (R1) 1738.9 (R2) 1756.1 (R3) 1767.6

Trading Forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1,726.37 with Stop Loss 1,713.71 and Take Profit at 1,823.39 are recommended.

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AUD/USD Wave Analysis for October 22, 2012 Trend News

AUD/USD Elliott Wave

Last week the AUD/USD pair was trading in a downward move; corrective wave C (coloured blue) of the bigger wave (4) (coloured green) is developing. During the Friday's Asian and European sessions we could observe descending movement from 1.0381 towards the 1.0347 level. Therefore, during the New York session the AUD/USD pair continued trading in a bearish mood and price reached a new daily low at 1.0317 level. Today this currency pair finished development of the (4) wave at 1.3001 level and we are expecting to see price around 1.0450 soon. 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 1.0449 (100% of wave 1). To reduce the risk, we can use invalidation at 1.0293 level as Stop Loss.

Support and Resistance

(S3) 1.0280 (S2) 1.0304 (S1) 1.0320 (PP) 1.0344 (R1) 1.0368 (R2) 1.0384 (R3) 1.0408

Trading Forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0330 with Stop Loss 1.0293 and Take Profit at 1.0449 are recommended.

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