EUR/USD Sell Bellow 1.3306 - For December 19, 2012 (Daily Strategy) Trend News

This morning in the U.S. session the euro managed to reach the highest level of 1.3306, at this time it is at the level of 1.3292. I see that a fall is imminent as a part of the correction of the pair. If we look on the graph, the trend indicator is showing a downward pressure. So I am selling this pair very cautiously with a very tight stop loss, about 25 pips above the daily maximum.

During these days the market will become less and less liquid so you should be very careful and operate cautiously.

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

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GBP/USD Sell Bellow 1.63 (Fractal) - For December 19, 2012 (Daily Strategy) Trend News

The British pound had an upward rally to the 1.6306 level (last fractal daily). The market is rather overbought at the moment. A daily closure above 1.6305 will be the start of a new upward rally but I consider it is highly unlikely. In fact at this time it is recommend selling the pair only with a very tight stop loss about 25 pips above the high of today.

On the other hand, you can buy in the support level 1.6135 fractal.

The trend indicator is showing a bearish reversal.

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

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Fundamental Analysis For December 19, 2012 Trend News

The financial climate has improved substantially in Europe in recent days as a result of the decision, now stronger, to create a unified banking, which allows troubled banks to be financed through special mechanisms.

The European Union announced, this time with more emphasis, its willingness to remain Greece in the eurozone.

This favors the growth of the single currency, which now becomes unstoppable upward. It beat smooth areas of 1.31 and 1.32, and may touch 1.33 in the next few hours.

Meanwhile, based on a report that UK inflation is steady at 2.7%, the sterling also shows signs of strength against the dollar, trading above 1.62, and the upward trend on the short-term charts.

The Swiss franc is similar to the euro, and also comes with short-term uptrend. As the single currency looks overbought, on the contrary, reversal patterns indicate a turnaround.

Meanwhile, the Australian dollar falls losing its uptrend extending from mid-November to economic growth data from Australia for less than expected. Pay attention, that AUD usually anticipate the movements of other currencies.

The yen continues its downward move. The Bank of Japan meeting can make a change in monetary policy, starting to pump money into the economy with an annual inflation target of 2%.

Following data should be considered, construction permits in the United States, at 10:00 Eastern, and oil inventories at 10:30, influencing the price of the Canadian dollar.

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USD/CHF Wave Analysis for December 19, 2012 Trend News

USD/CHF Elliott Wave
For the last few days the USD/CHF pair was trading in a downward channel, impulsive (5) wave (coloured red) of the bigger 1 wave (coloured purle) was developing. Yesterday during the Asian and European sessions we could observe strong descending movement from 0.9185 toward the 0.2136 level. Therefore, during the New York session this major pair continued trading in a bearish mood and the price reached a new low at 0.9113 level. At the moment the USD/CHF is trading at the end of the 1 impulsive wave (coloured purple) and we are expecting to see the end of this wave around 0.9100. In accordance with our wave rules and taking into account that the wave 2 should retrace 61.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.9358 (61.8% of wave 1). To reduce the risk, we can use support at 0.9050 level as stop loss.

Support and Resistance
(S3) 0.9083 (S2) 0.9107 (S1) 0.9122 (PP) 0.9146 (R1) 0.9170 (R2) 0.9185 (R3) 0.9209

Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 0.9120 with stop loss 0.9050 and take profit at 0.9358 are recommended.

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Silver Drops Below 32.00 Level. Buying On Dips Still Remains Favoured Strategy Trend News

Technical Outlook and Chart Setups:

Silver stopped us out below 32.00 in the last trading session. Still the structure remains constructive for bulls. It is quite possible that silver has completed an A-B-C correction from 34.30/40 levels, and that the metal is ready to rally again. Intermediary support now begins from 30.60/70 levels followed by 30.00 level; while resistance (intermediary) is at 33.60/70, 34.30/40, and 35.10 respectively. It is still recommended to consider dips as fresh buying opportunities and build long positions. If prices manage to reach 30.00 level, it will be considered best buy since the Fibonacci 0.618 support level of the rally between 26.00 to 35.00 is re-enforced there.

Trading Recommendations:

Buy at current levels, stop is at 29.80. Target is above 37.00.

Good Luck!

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Gold Breaks 1672.00. Buying On Dips Still A Favourable Strategy Trend News

Technical Outlook and Chart Setups:

The yellow metal has stopped us out below 1,672.00 in the last trading session. Yesterday’s swing count was presented here. Wave 4 is looking to be formed at/between 1,635.00 to 1,645.00. Furthermore, it is also quite possible that yesterday’s spike lower than 1,672.00 level might have completed the necessary A-B-C correction from 1,795.00 level. It is recommended to buy 50% capacity around current levels and the remaining around 1,645.00 region. Also the 1,645.00 region is re-enforced by Fibonacci 0.618 support of the rally from 1,530/40 to 1,795.00. Buying on dips still remains the recommended trading strategy.

Trading Recommendations:

1. Aggressive: Buy 50% capacity now, remaining 50% at 1,645.00, Stop is at 1,610/20. Target is open.

2. Conservative: Buy between 1,640.00 and 1,645.00. Stop is at 1,610/20. Target is open.

Good Luck!

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EurJpy Hits Target At 111.00. Take Profits For Now Trend News

Technical Outlook and Chart Setups:

The single currency pair has risen past resistance above 111.00, printing fresh highs today morning. As depicted here, 111.00 was embarked by past resistance and also the Fibonacci target of the rally from 94.00 to 104.00 levels. Therefore, it is recommended to book maximum (80%) profits at current levels (111.60). Support on Daily Charts is quite far at 106.00, followed by 105.20. A meaningful pullback is possible towards 109.00 level before the next rally.

Trading Recommendations:

Book profits on longs at current levels. Wait for a pullback to re-enter.

Good Luck!

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GbpChf Preparing To Breakdown. Stay Short and Move Risk To Breakeven Trend News

Technical Outlook and Chart Setups:

As depicted here, prices just want to break down below the wedge support region defined by 1.4800 - 1.4820 region. A push below 1.4800 would confirm the same. Intermediary support is provided by 1.4800, followed by 1.4700, and 1.4600 respectively. On the other hand, resistance remains lined up from 1.5050/60 region, moving up to 1.5150/60 and above. It is recommended to remain short expecting prices to break down below 1.4800, also selling intraday rallies. Further selling can be made on a breakdown of 1.4800 level also.

Trading Recommendations:

Remain short, move stop loss to at least breakeven. Target is open.

Good Luck!

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