EurJpy: Prepare go short around 150.90 Trend News

Technical outlook and chart setups:

As depicted on the short term chart view here (1H), the single currency pair probably completed the first leg of the expected 3 waves correction yesterday. A rally towards the 125.90 region is expected to for today, it is also re-enforced by the Fibonacci 0.618 resistance level. Support is around the 123.00 region followed by 121.50 and lower. It is recommended to prepare to go short today, by selling intraday rallies towards the 125.90 region. Looking lower for the short term.

Trading recommendations:

Sell around 125.90, stop is at 127.50, and target is at 122.50 and 120.00.

Good Luck!

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GBP/CHF countertrend rally underway; 1.4700/1.4800 is resistance Trend News

Technical outlook and chart setups:

As seen in the 4H chart depicted here, the single currency pair seems to have begun the expected countertrend rally yesterday. Intermediary support is just under 1.4200 now, while resistance begins from 1.4500 and spreads through the 1.4700 region mark. This is also re-enforced by the sloping channel resistance line, as seen here. It is recommended to shift the trading strategy to buy on dips for a short term view now, as well as to hold on long positions taken yesterday. It looks like an intermediary bottom is in place at 1.4270/75 for now.

Trade recommendations:

Hold on to long positions taken yesterday. Buy on intraday dips. Stop is at 1.4150. Target at 1.4700.

Good Luck!

The material has been provided by Instaforex Company - http://www.instaforex.com/



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EUR/JPY: Weekly and monthly pivot points and signals for February 04 - 09, 2013 Trend News

After having negotiated in April 2010, EUR/JPY price levels show signs of a potential correction as part of profit-taking. The pair is overbought on daily charts and it is very likely that in the next few days there is a correctional trend until 124.94 weekly pivot. It is likely that this upward level forces an upward movement with targets to 128.22. Therefore, we must oversee this weekly pivot point level, below this level the pair could quickly fall to the next support 122.91.

124.94 and 120.88 are weekly and monthly pivot points for this week for EUR/JPY.

Signals for February 04 - 09, 2013

Buy if it rebounds at 124.94 (W_PPV) with take profit at 126.90 and 128.22 (W_R1), stop loss is below 122.90.

Sell if it closes below 124.94 (W_PPV) with take profit at 122.91 and 119.19 (W_S2), stop loss is above 125.50.

____WEEKLY_____

Weekly - R3 = 134.41

Weekly - R2 = 130.69

Weekly - R1 = 128.66

Weekly Pivot = 124.94

Weekly - S1 = 122.91

Weekly - S2 = 119.19

Weekly - S3 = 117.16

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

____MONTHLY____

Monthly - R3 = 135.06

Monthly - R2 = 131.92

Monthly - R1 = 128.22

Monthly Pivot = 120.88

Monthly - S1 = 117.18

Monthly - S2 = 109.84

Monthly - S3 = 106.14

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NZD/USD: Weekly technical levels for February 4 - 8, 2013 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 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: 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, 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 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 - http://www.instaforex.com/



For detail explanation and best discovery on market trends you may visit via NZD/USD: Weekly technical levels for February 4 - 8, 2013 . Thanks for your support on NZD/USD: Weekly technical levels for February 4 - 8, 2013