Elliott Wave Analysis of EUR/NZD for September 19, 2013 Trend News

Today's Support and Resistance levels:

R3: 1.6263

R2: 1.6187

R1: 1.6139

Current Spot: 1.6119

S1: 1.6077

S2: 1.6026

S3: 1.5966

Technical summary:

Trying to pinpoint the bottom for this wave C has been a real pain. We hit the cluster of supports at 1.6119, but also saw a break below this support, with 1.6077 being the low for now. Looking at the EWO-indicator we have a massive divergence telling us that momentum for this decline is weakening almost by the minute and still this decline continues. By breaking below the ideal target at 1.6119 we now have a window open for a continuation even lower towards 1.5873. That said, we find it most unlikely that we will see a decline that low and regard this as a short term spike below the ideal 1.6119 target. However, to confirm that wave C is over a break above 1.6263 and more importantly a break above 1.6348 is needed. A break above 1.6348 would call for a new rally higher towards 1.7274 and even higher longer term.

Trading recommendation:

The aggresive long at 1.6225 was stopped out with a small loss at 1.6095. As we now have an opening for a deeper decline towards 1.5873. Long EUR positions should only be taken when if the market commits to us by breaking above 1.6348. Therefore, we recommend placing an order to buy EUR at 1.6350.

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 September 19, 2013 . Thanks for your support on Elliott Wave Analysis of EUR/NZD for September 19, 2013

Gold Elliott wave analysis for September 18, 2013 Trend News

Gold made a new low today at 1,291 confirming our bearish view. The trend remains downward. Prices continue to trade within the downward sloping channel. Our view and wave count remain bearish with target at the 1,280-70 level. The impulsive downward wave that started at 1,433 will soon be complete so bears will have to tighten their stops. However, we still believe that this downward wave could complete near 1270.

The daily chart shows clearly that support is broken and that the trend is downward as lower lows and lower highs are being formed. Support is found at 1,292 and at 1,280. Resistance is found at 1,315 and at 1,325.

Prices continue to trade within the downward sloping channel. Our wave count is depicted in the chart above. We expect new lower lows in order to complete the wave pattern from 1,433. Concluding, we remain bearish with 1,335 stop. First buy target is at 1,285.

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 18, 2013 . Thanks for your support on Gold Elliott wave analysis for September 18, 2013

EUR/JPY H1 Analysis for September 18, 2013 Trend News

General overview for 18/09/2013 09:00 CET

The price is consolidating just below Key Level resistance area, that must be broken to the upside to expose a possible test of the latest highs.

Not much of a impulsive bullish wave progression tough. Looks more like some more complex wave (ii) black in progress.

Very narrow rage indicates that market is awaiting FED decision, so the situation will be more clear later today. Nevertheless, the main count is still impulsive bulish triangle breakout and it is valid as long as 129.88 is not broken.

RSI has flatten and all above clues indicates that market is in a waiting mode.

Support/Resistance:

133.35 - Swing High

133.30 - WR1

132.65 - KEY LEVEL

132.39 - Intraday Support

132.15 - Weekly Pivot

131.65 - Intraday Support

Trading recommendation:

Please, do not expect too much price action until FED statemend is relased.

The bias is upside due to the higher time frames unifinished cycles.

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 H1 Analysis for September 18, 2013 . Thanks for your support on EUR/JPY H1 Analysis for September 18, 2013