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.



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

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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.



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

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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.

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 29 - November 2, 2012 . Thanks for your support on GBP/USD: Weekly Technical Levels for October 29 - November 2, 2012

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.

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 29 - November 2, 2012 . Thanks for your support on EUR/USD: Weekly Technical Levels for October 29 - November 2, 2012

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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