EUR/JPY Elliott Wave analysis for June 12, 2013 Trend News

Today's support and resistance levels:

R3: 129.20

R2: 128.96

R1: 128.70

Current spot: 128.44

S1: 128.09

S2: 127.42

S3: 127.10

Technical overview:

We have seen a nice impulsive decline from the 131.31 high, which confirms that the x wave did end at 131.31 and the second zigzag lower now has begun. In the short term, we are looking for a minor rally towards resistance at 128.70 and maybe 128.96 before the next decline sets in. A break below support at 128.09 and, more importantly, a break below 127.42 confirms, that the next decline towards strong support at 126.30 is developing. However, a break below support at 126.30 confirms, that a decline to our ideal wave 2 target at 118.73 is developing.

Trading recommendation:

We short EUR from 130.75 and will move our stop lower to 131.35. If you do not have short positions on EUR yet, then sell it close to 128.70 with the same stop.

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



For detail explanation and best discovery on market trends you may visit via EUR/JPY Elliott Wave analysis for June 12, 2013 . Thanks for your support on EUR/JPY Elliott Wave analysis for June 12, 2013

Silver: Buy on dips. Major support at 21.20/30 Trend News

Technical outlook and chart setups:

The structure remains unchanged for now. Prices are out of consolidation range of 22.00 and 23.00 for now. 22.00 level shall provide short-term resistance for the metal. On the lower side, supports are spread through 21.20/40 levels (the Fibonacci 0.618 level of the rally between 20.00 to 23.00 recently). A bullish reversal here would trigger rally towards 25.00 level in the coming sessions. It is therefore recommended to hold long positions for now and look to add towards 21.20/40, if reached. Please note that Silver has printed lows at 20.00 level, while Gold has not. This divergent picture warrants that a reversal could be in store. Looking higher for now.

Trading recommendations:

Hold long positions for now, stop is at 20.50, and target is open.

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 Silver: Buy on dips. Major support at 21.20/30 . Thanks for your support on Silver: Buy on dips. Major support at 21.20/30

Gold: Major support at 1,350.00. A break here would be critical for bulls Trend News

Technical outlook and chart setups:

The metal has been testing out patience levels recently. As depicted here, we are focusing on the recent swings from 1,324 to 1,488 and 1,340 to 1,420. This structure depicts a cone consolidation and with in the structure, Gold is at a possible Fibonacci convergence at 1,368/70 levels, as depicted. A bullish bounce here, would trigger a rally which could break past 1,425.00 resistance level. For now, the line of support is pointing towards 1,350.00, while line of resistance is at 1,410.00 level respectively. Hence it is recommended to remain long in the metal till prices remain above 1,350.00. One 1,410.00 level is cleared further aggressive buying could be made in the counter. On the flip side a break of 1,350.00 would prove to be critical for bulls.

Trading recommendations:

Remain long for now, move stop to 1,345.50, and target is open.

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 Gold: Major support at 1,350.00. A break here would be critical for bulls . Thanks for your support on Gold: Major support at 1,350.00. A break here would be critical for bulls

Gold: Major support at 1,350.00. A break here would be critical for bulls Trend News

Technical outlook and chart setups:

The metal has been testing out patience levels recently. As depicted here, we are focusing on the recent swings from 1,324 to 1,488 and 1,340 to 1,420. This structure depicts a cone consolidation and with in the structure, Gold is at a possible Fibonacci convergence at 1,368/70 levels, as depicted. A bullish bounce here, would trigger a rally which could break past 1,425.00 resistance level. For now, the line of support is pointing towards 1,350.00, while line of resistance is at 1,410.00 level respectively. Hence it is recommended to remain long in the metal till prices remain above 1,350.00. One 1,410.00 level is cleared further aggressive buying could be made in the counter. On the flip side a break of 1,350.00 would prove to be critical for bulls.

Trading recommendations:

Remain long for now, move stop to 1,345.50, and target is open.

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 Gold: Major support at 1,350.00. A break here would be critical for bulls . Thanks for your support on Gold: Major support at 1,350.00. A break here would be critical for bulls

EurJpy retraces to 128.00. 126.00 intermediary support Trend News

Technical outlook and chart setups:

The single currency pair rose through 131.20/30 levels yesterday and pulled back to 128.00 level now. This region is re-enforced by the 0.618 Fibonacci retracement of the rally between 126 and 131.20/30. If short positions were taken yesterday, it is recommended to cover and book profits; also initiate 50% long positions now, at 128.80/85. Immediate intermediary support is at 126.00. A break of 126.00 would push prices down towards 123.00/124.00 levels; but a rally here is expected to print highs around 133.00 at least. Resistance is spread through 132.00 and 133.80/134.00 levels. Looking higher till prices stay above 126.00.

Trading recommendations:

Initiate 50% long positions, stop is at 126.00, and target is at 133.00 at least.

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 retraces to 128.00. 126.00 intermediary support . Thanks for your support on EurJpy retraces to 128.00. 126.00 intermediary support

GbpChf again testing 1.44. Sell a break here Trend News

Technical outlook and chart setups:

The single currency pair has been swinging between 1.44 and 1.45/1.46 lately. Today is yet another leg down towards 1.44. It is recommended to hold long as long as prices stay above 1.44 here, which is immediate support. A break of 1.4350 level should be sold as it would technically indicate a probable large swing lower. Supports are spread through 1.4075, 1.4 and lower. On the flip side if 1.44 holds again, long positions can be held and fresh positions could be added as well. 1.46/1.47 are immediate intermediary resistances, while 1.5 is major. Current trading range between 1.44 and 1.46 should be broken in order to get further clarification of the next move.

Trading recommendations:

Hold on to long positions for now, stop is at 1.4350, stop reverse on a break.

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 GbpChf again testing 1.44. Sell a break here . Thanks for your support on GbpChf again testing 1.44. Sell a break here

Elliott Wave analysis of EUR/NZD for June 11, 2013 Trend News

Today's Support and Resistance levels:

R3: 1.6961

R2: 1.6921

R1: 1.6864

Current Spot: 1.6821

S1: 1.6790

S2: 1.6756

S3: 1.6692

Technical overview:

Wave iii is still progressing nicely, but we are slowly but surely closing in on the top of black wave iii, which we expect will be found close to 1.7040. However, for now we are "only" in red wave v, which also will mark black wave iii, higher towards 1.7040. Once wave red wave v and black wave iii are in place we shall see a correction towards at least 1.6617 and more likely down to 1.6354, where wave iv will have corrected 38.2% of wave iii. As black wave ii was a complex wave, we should expect a simple zig-zag as black wave iv. However, it could also become a complex triangle, but at this point it is less likely, but time will show us.

Trading recommendation:

We are long EUR from 1.5790 and will keep our stop at 1.6550, but once we see a break above 1.6350 we will move our stop higher to 1.6685. We will place our take profit at 1.7015. As we are getting close to a temporary top we suggest to wait to take new long positions.

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



For detail explanation and best discovery on market trends you may visit via Elliott Wave analysis of EUR/NZD for June 11, 2013 . Thanks for your support on Elliott Wave analysis of EUR/NZD for June 11, 2013

Elliott Wave analysis of EUR/JPY for June 11, 2013 Trend News

Today's Support and Resistance levels:

R3: 131.31

R2: 131.00

R1: 130.68

Current Spot: 130.45

S1: 129.91

S2: 129.20

S3: 128.48

Technical overview:

The x-wave ended a little higher (131.31) than the ideal 130.88, where it would have corrected 61.8% of the decline from 133.81 down to 126.11. Now we are looking for the second zig-zag lower towards the ideal wave 2 target at 118.73, where wave 2 will have corrected 38.2% of wave 1 and at the same time it is where we will find the bottom of wave iv, of one lesser degree. In the short term we expect resistance at 130.68 will protect the upside for a decline towards 129.20 where we will find the next strong support, but it should just be a matter of time before this support breaks and the decline towards 126.11 and 118.73 continues. That said, a break above 131.31 and, more importantly, a break above 131.47 would call for a full test of the top at 133.81 and maybe even higher in a much more complex wave 2 correction.

Trading recommendation:

We are short EUR from 130.75 with a stop at 131.50. If you are not short EUR already, then sell near 130.68 with the same stop.

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



For detail explanation and best discovery on market trends you may visit via Elliott Wave analysis of EUR/JPY for June 11, 2013 . Thanks for your support on Elliott Wave analysis of EUR/JPY for June 11, 2013