Gold drops to the 1,320.00 level, breaking the line of support Trend News

Technical outlook and chart setups:

As depicted here in the daily chart, Gold has fallen below the lines of support by now. It is going to face resistance at the 1,350/65 levels, going forward, hence it is recommended to exit long positions if it reverses from 1,350/65 which is support turned resistance at the moment. But the current setup still does not confirm a reversal; a move back up to the buy zone of the trendline shall keep the existing setup intact. Intermediary resistance begins from 1,350/65, followed by 1,410/15 and 1,440; while support begins from 1,270, followed by 1,210 and 1,180.00. A test at the back side of rising trendline and reversal would warrant initiating short positions, for now, stay long.

Trading recommendations:

Remain long, set a stop at 1,270.

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 drops to the 1,320.00 level, breaking the line of support . Thanks for your support on Gold drops to the 1,320.00 level, breaking the line of support

GBPCHF: Remain long for now Trend News

Technical outlook and chart setups:

The currency pair is consolidating the recent gains at the moment, before pushing through higher highs. Immediate resistance is seen at the 1.48 levels, followed by 1.5; while immediate support is at 1.46, followed by 1.42 and 1.4 respectively. It is recommended to hold long positions taken earlier; also fresh long positions can be taken at intraday dips ahead of the 1.46 levels. Structurally, the pair should push through the 1.49 levels after consolidating at the current levels. It is suggested to keep risk just at 1.46 for now. If a larger correction occurs, the 1.45 levels would be a good entry point. Looking at a target at the 1.49 levels for now.

Trading recommendations:

Remain long, stop at 1.46, target is at 1.49.

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: Remain long for now . Thanks for your support on GBPCHF: Remain long for now

Silver holding support at 22.30. Exit short positions Trend News

Technical outlook and chart setups:

The metal seems to be holding support at 22.30 level for now. It is recommended to exit short positions taken earlier and look to go long again. Immediate support is the 22.30 region, followed by 19.25 and lower, while intermediary resistance is at 25.00 and higher up. It is quite possible that the metal retraces further to 21.50 level before rallying ahead towards fresh swing highs. The region to enter long positions again would be between 21.00 and 21.50. The following convergence levels are seen there.

1. Fibonacci 0.618 retracement level for recent upswing.

2. Past resistance turned support near 21.00 level.

3. Rising trend line would be passing around that region soon.

Trading recommendations:

Exit short positions. Plan to buy between 21.00 and 21.50.

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 Silver holding support at 22.30. Exit short positions . Thanks for your support on Silver holding support at 22.30. Exit short positions

Gold hits target at 1,350.00 Time to initiate long positions now Trend News

Technical outlook and chart setups:

The metal has just met with out expected downside target at 1,350.00. It is strongly recommended to exit short positions now and look to initiate long positions at current level (1,340/45). The following reasons would be enough to take long positions:

1. Prices are at past resistance turned support at 1,340/50.

2. The trend line from 1,180.00 level is passing just across current price action.

3. Prices are between Fibonacci retracements of 0.5 and 0.618 of recent rally from 1,270 to 1,440 levels.

4. Downside extensions also have been met at 1,340.00 level.

Support is at 1,310, followed by 1,270.00 and lower, while intermediary resistance is at 1,440.00.

Trading recommendations:

Exit short positions. Go long, stop is at 1,270, 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 hits target at 1,350.00 Time to initiate long positions now . Thanks for your support on Gold hits target at 1,350.00 Time to initiate long positions now

EurJpy testing past resistance at 132.00. Book partial profits on long positions Trend News

Technical outlook and chart setups:

The single currency pair raised past 133.00 level yesterday but failed to print higher highs. At the moment, it looks to be testing the past resistance turned support region around 132.00 level. It is recommended to book partial profits at current levels and move risk to break-even levels on the remaining long positions. The currency pair would probably rally towards a new high from current levels, it seems a failure would enforce structural change though! At the moment, resistance is at 133.80/134.00 region, while support is just below 130.00 level. Looking to print higher highs for now.

Trading recommendations:

Book partial profit on long positions and move risk/stop to break-even levels.

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 testing past resistance at 132.00. Book partial profits on long positions . Thanks for your support on EurJpy testing past resistance at 132.00. Book partial profits on long positions

GbpChf continues rallying. Book partial profits and reduce risk Trend News

Technical outlook and chart setups:

The single currency pair has raised ahead after entering into buy zone of the sloping downtrend line as depicted on daily chart view here. It is recommended to book partial profits at current levels, and move stop to 1.46. The trade does not have any risk now! Immediate short-term support is at 1.46, followed by 1.42 and 1.4 levels, while resistance is at 1.48 level. The bulls here seem to be determined to take out 1.48 level soon enough. A failure here would eventually bring prices lower at least to 1.45 level. It is recommended to remain long on partial quantity and await for a reaction at sub 1.48 level.

Trading recommendations:

Book partial profits. Move stop from 1.42 to 1.46.

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 continues rallying. Book partial profits and reduce risk . Thanks for your support on GbpChf continues rallying. Book partial profits and reduce risk

#USDX Analysis for September 12, 2013 Trend News

Trend remains down in the Dollar Index and still we remain neutral as no bullish sign was given yesterday. Prices have now reached the 61.8% Fibonacci retracement as shown in the cahrt below. This price level was our second target for a possible bottom and end of the decline from 82.67.

Short-term support is found at 81.40 and 81.20. Short-term resistance is found at 81.65 (downward sloping blue trendline) and at 81.80-95 (the previous sideways consolidation). Chances for a bottom near 81.50 have increased and we are looking to find the first bullish signal. This will be a break above the downward sloping trendline, a back test of the break out and a new higher high to confirm the breakout.

In the daily chart, prices will need to break above 82.40 resistance and the 82.67 high in order for 84.50-85 to be a feasible target. Breaking above those levels could lead to another upward big leg that will challenge the previous top at 84.75. Breaking below support at the 81 level could put in danger the longer-term upward sloping trend channel. This can be clearly seen in the chart below.

Concludin we remain neutral to bearish as trend remains down, but there is increased probability for a trend reversal as prices trade close to longer- and intermediate-term support.

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



For detail explanation and best discovery on market trends you may visit via #USDX Analysis for September 12, 2013 . Thanks for your support on #USDX Analysis for September 12, 2013

Gold Elliott wave analysis for September 12, 2013 Trend News

Gold did not manage to make any significant upward move. Resistance at 1,372 was not broken and prices moved sideways in an overlapping pattern. The correction ended today as the low at 1,355 was broken and prices fell towards our second target of 1,340.

The trend remains downward, but bears should be cautious and to move lower their trailing stops to protect their gains. Important resistance is now found at 1,366. If broken upwards, it can lead prices towards 1,375-80. We believe that prices could go as low as 1,330. Pushing lower could put the bullish scenario in danger.

An important breakdown of support has occured with a new low today. The upward sloping trendline in the daily chart that connects the 1,180 with 1,272 lows was broken earlier today. This puts the bullish scenario in the second place. The bearish scenario becomes our first choice as suppot fails. The short-term support is found at 1,330 and then 1,307. The trend remains downward as lower lows and lower hgihs continue to be the main pattern in the daily chart. We remain bearish as long as prices trade below 1,368. Profit taking is advised to minimise risk because of higher probability of an upward bounce.

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 Elliott wave analysis for September 12, 2013 . Thanks for your support on Gold Elliott wave analysis for September 12, 2013