Silver: Structure remains locked in consolidation between 22.00 - 23.00. Trend News

Technical outlook and chart setups:

Silver is a classic example of sideways consolidation and the game of support-resistance. Support band is 22.00/10, while resistance range is 23.00/10 respectively since several trading sessions. The overall wave structure remains constructive for bulls, hence it is recommended to hold long positions and buy further on dips. For those who need to take fresh positions can enter long on a bullish break above 23.00 or a bearish break below 22.00 respectively. Support levels are spread through 21.20/40, 20.80 and 20.00 levels; while resistance is at 23.00, followed by 24.00/20 and higher up. A bullish break above 23.00 should be aggressively bought since it has got potential to rally straight through 25.00 levels in short time.

Trading recommendations;

Remain long, buy further on dips, stop is at 20.80, and target is open.

Good luck!

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Gold structure remains constructive above 1,370.00 Trend News

Technical outlook and chart setups:

The yellow metal is holding the short-term immediate line of support as depicted here. It is recommended to hold long positions for now, since the overall structure remains constructive for bulls; a possible 3 wave pullback is under way towards 1,500/20 levels. Immediate support is at 1,370.00, followed by 1,360.00 and 1,340/20; while resistance is at 1,440/50, followed by 1,488.00 and higher up. Till the time Gold stays above 1,370.00; i.e above the immediate line of support, we are looking higher for the metal and bulls shall remain in control. The minimum extensions are pointing towards 1,520.00 levels at least, which is also past support turned resistance.

Trading recommendations:

Remain long, stop is at 1,369.00, and target is open.

Good luck!

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Gold structure remains constructive above 1,370.00 Trend News

Technical outlook and chart setups:

The yellow metal is holding the short-term immediate line of support as depicted here. It is recommended to hold long positions for now, since the overall structure remains constructive for bulls; a possible 3 wave pullback is under way towards 1,500/20 levels. Immediate support is at 1,370.00, followed by 1,360.00 and 1,340/20; while resistance is at 1,440/50, followed by 1,488.00 and higher up. Till the time Gold stays above 1,370.00; i.e above the immediate line of support, we are looking higher for the metal and bulls shall remain in control. The minimum extensions are pointing towards 1,520.00 levels at least, which is also past support turned resistance.

Trading recommendations:

Remain long, stop is at 1,369.00, and target is open.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



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EurJpy pulling back towards 131.00/50; Providing another short opportunity Trend News

Technical outlook and chart setups:

The single currency pair has broken immediate line of support last week. Furthermore, it has tested resistance at 132.00 level as well. The current rally from 129.50 to 131.40/50 can still be defined as retracement of earlier fall; and an opportunity to initiate further short positions. It is recommended to remain short on earlier positions taken as well; minimum downside extensions seen towards 127.50 for now. Immediate resistance is 132.00 level, followed by 134.00 on the higher side; while immediate support is seen at 129.00, followed by 127.00 respectively. 132.00 remains key for bears to remain in control for now.

Trading recommendations:

Remain short, stop is at 133.50, and target is at 127.50.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via EurJpy pulling back towards 131.00/50; Providing another short opportunity . Thanks for your support on EurJpy pulling back towards 131.00/50; Providing another short opportunity

EurJpy pulling back towards 131.00/50; Providing another short opportunity Trend News

Technical outlook and chart setups:

The single currency pair has broken immediate line of support last week. Furthermore, it has tested resistance at 132.00 level as well. The current rally from 129.50 to 131.40/50 can still be defined as retracement of earlier fall; and an opportunity to initiate further short positions. It is recommended to remain short on earlier positions taken as well; minimum downside extensions seen towards 127.50 for now. Immediate resistance is 132.00 level, followed by 134.00 on the higher side; while immediate support is seen at 129.00, followed by 127.00 respectively. 132.00 remains key for bears to remain in control for now.

Trading recommendations:

Remain short, stop is at 133.50, and target is at 127.50.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com



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Elliott Wave analysis of EUR/NZD for June 4, 2013 Trend News

Today's Support and Resistance levels:

R3: 1.6368

R2: 1.6316

R1: 1.6265

Current spot: 1.6231

S1: 1.6185

S2: 1.6123

S3: 1.6090

Technical overview:

Green wave iii ended a little earlier than we expected and green wave iv became a little deeper than expected, but that does not change the overall picture, that more upside is coming. As the target for green wave v and only blue wave iii we are looking for 1.6452 and possibly even 1.6530 before blue wave iv takes over for a minor correction. As blue wave ii was a deep and quick, we should expect blue wave iv to be shallow and it will take more time, but our main focus should be towards the upside, as we are in the middle of wave 3 and, even though, it is difficult to foretell what will hapen with corrections, they tend to be minor or even sub-normal.

Trading recommendation:

We are long EUR from 1.5790 and will keep our stop at 1.6090 for now. If you are not long EUR already, then buy near 1.6186 or upon a break above 1.6244 with the same stop.

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