EUR/JPY Weekly and Monthly Pivot Points and Signals For December 24-29, 2012 Trend News

As we all know the Japanese government is determined to devalue its currency. The EUR/JPY pair is very bullish, but will the Japanese government be able to weaken the yen enough to keep buyers? Technical indicators such as RSI is in the overbought territory, so there is probably a correction during next few days. Thus, we have traced the likely movements according to the table pivots.

111.17 and 105.03 are weekly and monthly pivot points for this week for EUR/JPY.

Signals for December 24-29, 2012

Sell if pullback is at 112.41 (W_PPV) with take profit at 111.17, stop loss is above 109.85 (W_R1).

____WEEKLY_____

Weekly - R3 = 114.97

Weekly - R2 = 113.73

Weekly - R1 = 112.41

Weekly Pivot = 111.17

Weekly - S1 = 109.85

Weekly - S2 = 108.61

Weekly - S3 = 107.29

If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com

____MONTHLY____

Monthly - R3 = 117.07

Monthly - R2 = 112.37

Monthly - R1 = 109.73

Monthly Pivot = 105.03

Monthly - S1 = 102.39

Monthly - S2 = 97.69

Monthly - S3 = 95.05

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EUR/USD: Weekly Technical Levels for December 24 - 28, 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 moving.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and 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, you will surely lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market is highly 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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Gold Bottom in Place at 1635.00 Levels. Look Higher. Trend News

Technical Outlook and Chart Setups:

As expected, the yellow metal looks to be bottomed out at 1630/40 region and the next upswing should be under way around 1850/1900 levels in the coming weeks. Immediate support is at 1635.00 levels, followed by 1600.00 respectively. Resistance is at 1750/55, followed by 1795.00/1800.00. Furthermore, 1635.00 is also the 0.618 Fibonacci support, past resistance turned support, and also the trendline support as depicted on the charts. Looking higher from here on.

Trade Recommendations:

Hold on to earlier long positions, buying fresh is also favourable, Stop is at 1610/20, Target is open.

Good Luck !

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