#USDX analysis for November 12, 2013 Trend News

The Dollar index remains supported by bullish trend and the prices are expected to continue higher to new higher highs. Trend remains up, our view remains bullish and the prices are expected to test 81.50 and break above it towards 82.

The dollar index remains bullish as long as the prices trade above the blue upward sloping trend line. Prices have not broken below support at 80.75-60 (previous resistance now turned to support) and we expect the double top at 81.50 to be broken.

Short-term support is found at 81 and below that at 80.80. Short-term resistance is found at 81.50 and long-term resistance as shown in the second chart is found at 81.65-70. We remain bullish with 81.70-82 as target as long as the prices trade above 81. Long-term target is 83.

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Gold analysis for November 12, 2013 Trend News

Gold is sliding downwards towards 1,280-70 and is reaching important support levels that could change the intermediate and long-term trend. The prices are moving downwards in an impulsive pattern and the decline has retraced more than the 76.4% of the 1,250-1,360 rise. This is not a bullish sign. However, confirmation of the bearish scenario will come with the break of 1,250$-60 neckline.

For the short-term trend to change upwards, the prices must break above the resistance levels, shown in the chart above. As long as the prices trade below the green downward sloping trend line, we remain bearish.

The daily chart shows that the prices are near important support and this is the area where we can see an upward move starting. If support fails, expect 1,250 to be broken and the prices push lower towards 1,200. A break above 1,300 could make us to buy a small position with a strategy to add above 1,325. Target is in the area 1,360-1,400. If resistance levels are not broken, then new lows are the targets.

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EUR/JPY H1 analysis for November 12, 2013 Trend News

General overview for 12/11/2013 06:40 CET

The target level mentioned in yesterday's analysis has been hit and now we have a first clue that the Triple ZigZag correction might be done here on 50% Fibo of a larger swing and 88.6% Fibo of a lower swing. But we cannot be sure whether the correction is over or not in this cycle as long as price is moving in the upward channel. It is possible for the price to hit the SUPPLY zone as well. However, if this zone is broken, this will be first clue waves WXY brown in the count are finished and wave B black of alternate count is in place, and so then downward progression is terminated on 131.21 low.

Support/Resistance:

131.21 - Swing Low | WS1 |

132.19 - Intraday Support

132.45 - Weekly Pivot

132.90 - Intraday Support

133.13 - Intraday Support

133.32 - 50% Fibo

133.60 - 133.70 - SUPPLY ZONE | WR1 |

133.82 - 61% Fibo

Trading recommendations:

Sell zone shorts should be in play in anticipation of corrective leg up termination and downtrend resumption. Sl is above SUPPLY ZONE and TP is below the 132.21 level.

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