#USDX analysis for December 12, 2013 Trend News

The Dollar index remains under pressure. Prices are sliding lower as the trend remains downward. Prices have fallen slightly below support of the 61,8% Fibonacci retracement. The bullish scenario that is expecting a trend reversal is losing its chances to success, the deeper downward move. The bullish scenario will be canceled if prices break below 79.

Bulls will first need to break above the downward sloping wedge and the MA with the negative slope. Resistance is found at 80.05 and 80.20. This short-term resistance should be broken to have the first positive signal. In the chart below, however, the dollar index will face a bigger resistance area that should be broken, in order for the trend to reverse. In the chart below, you see the resistance area as a red rectangle.

Prices are trading in a longer-term downward sloping channel and need to break above the red area for bulls to have a longer-term hope. Otherwise, if the trend continues like this and the blue MA crosses and the red MA, we could be in for an ugly surprise for bulls with new lower lows near the Christmas period. Taper or no taper talk during mid December by the Fed will surely play its role and bring a lot of volatility. We prefer being neutral and waiting for a strong signal to take a position, with a small favor to the bullish side.

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 December 12, 2013 . Thanks for your support on #USDX analysis for December 12, 2013

Silver stands at resistance level of 20.50. Trend News

Technical outlook and chart setups:

The metal has raised towards the 0.382 fibonacci resistance at 20.50 levels as depicted in the daily chart. It is recommended to initiate at least 50% short positions now, with risk at 21.70 levels. Resistance levels are 21.00, followed by 21.50, 22.00 and higher; while support is at sub 18.00 levels. The wave structure reveals that the metal should continue to drift lower from current levels, towards fresh swing lows of 17.00 levels atleast; till the time it is trading well below the channel resistance line (passing through 21.50 levels at the moment). Selling rallies is favored trade strategy for now.

Trading recommendations:

Sell 50% now, and remain at 21.00 levels, stop is at 21.70.

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 stands at resistance level of 20.50. . Thanks for your support on Silver stands at resistance level of 20.50.

Gold at resistance level of 1,260/70. Selling recommended Trend News

Technical outlook and chart setups:

The metal has paused after hitting 1,270.00 recently. As depicted here, this is the 0.382 fibonacci resistance level of the fall between 1,370 and 1,210 down swing. Lined up resistance levels are 1,280.00, 1,305.00, followed by 1,360.00 and higher; while support levels are at 1,210.00 and 1,180.00 respectively. It is recommended to initiate 50% short positions now, with risk at 1,280.00. The entire structure reveals that a fresh swing low should be formed till prices are trading below the channel resistance of 1,300.00 levels at least. Selling rallies favored strategy for now.

Trading recommendations:

Initiate 50% short positions now and remain around 1,275.00, stop at 1,280.

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 at resistance level of 1,260/70. Selling recommended . Thanks for your support on Gold at resistance level of 1,260/70. Selling recommended

EURJPY resistance is at 142.00 Trend News

Technical outlook and chart setups:

The currency pair is holding resistance at 142.00 levels for now. It is recommended to initiate short positions between 141.60/70 levels with a risk at 142.50/60 from here on. As depicted here in the 4H chart view, supports are spread through 138.50 levels, followed by 137.00 and 134.00 respectively. The structure reveals of a short setup being formed now, with a target of 138/139 levels at least. On the flip side, a push beyond 142.00 would trigger upside movement towards 142.80/90 levels. That could be the final top before reversal. It is recommended to refrain from buying at the moment.

Trading recommendations:

Short between 141.60/70, stop at 142.60.

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 resistance is at 142.00 . Thanks for your support on EURJPY resistance is at 142.00

EURJPY resistance is at 142.00 Trend News

Technical outlook and chart setups:

The currency pair is holding resistance at 142.00 levels for now. It is recommended to initiate short positions between 141.60/70 levels with a risk at 142.50/60 from here on. As depicted here in the 4H chart view, supports are spread through 138.50 levels, followed by 137.00 and 134.00 respectively. The structure reveals of a short setup being formed now, with a target of 138/139 levels at least. On the flip side, a push beyond 142.00 would trigger upside movement towards 142.80/90 levels. That could be the final top before reversal. It is recommended to refrain from buying at the moment.

Trading recommendations:

Short between 141.60/70, stop at 142.60.

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 resistance is at 142.00 . Thanks for your support on EURJPY resistance is at 142.00

Elliott wave analysis of EUR/JPY for December 12, 2013 Trend News

Today's Support and Resistance levels:

R3: 143.22

R2: 142.78

R1: 142.34

Current Spot: 141.81

S1: 141.33

S2: 140.95

S3: 140.40

Technical summary:

Support at 140.99 did more or less protect the downside as we expected. We did see a slight dip below 140.99, but it was not sustained and we are now in the final rally higher towards 142.34 as the first target for this final wave v of 5, however we could easily see an extension higher towards 142.78 and 143.22 as the final top of wave 5 and I. Once the top is in place we should see the beginning of a major correction, which time- and pricewise will be the biggest we have seen since the 94.10 low. The minimum target for this correction will be at 124.95, but it could move lower towards 118.72.

However, for now we should stay focused towards the upside for the final new high above 142.17, but once this high is broken a top could be in place any time.

Trading recommendation:

We will sell EUR at 143.00 or upon a break below 141.33.

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 December 12, 2013 . Thanks for your support on Elliott wave analysis of EUR/JPY for December 12, 2013

Elliott wave analysis of EUR/JPY for December 12, 2013 Trend News

Today's Support and Resistance levels:

R3: 143.22

R2: 142.78

R1: 142.34

Current Spot: 141.81

S1: 141.33

S2: 140.95

S3: 140.40

Technical summary:

Support at 140.99 did more or less protect the downside as we expected. We did see a slight dip below 140.99, but it was not sustained and we are now in the final rally higher towards 142.34 as the first target for this final wave v of 5, however we could easily see an extension higher towards 142.78 and 143.22 as the final top of wave 5 and I. Once the top is in place we should see the beginning of a major correction, which time- and pricewise will be the biggest we have seen since the 94.10 low. The minimum target for this correction will be at 124.95, but it could move lower towards 118.72.

However, for now we should stay focused towards the upside for the final new high above 142.17, but once this high is broken a top could be in place any time.

Trading recommendation:

We will sell EUR at 143.00 or upon a break below 141.33.

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 December 12, 2013 . Thanks for your support on Elliott wave analysis of EUR/JPY for December 12, 2013

GBPCHF is testing a support line at 1.4490/1.4500 Trend News

Technical outlook and chart setups:

The currency pair is testing the outer support line in the daily chart view depicted here at 1.4490/1.4500 levels. It is still recommended to initiate long positions with a risk at 1.4400 from here on. The resistance is fixed at 1.4900 levels; while supports are spread through 1.4350, followed by 1.4200 and 1.4050 respectively. The structure reveals that a pullback is due towards 1.4750/1.48 levels, if not higher from here on. On the flip side, if the trend line breaks down, prices would further weaken towards 1.4300 levels. Higher probability trade is to remain long from here on keeping the trend line support.

Trading recommendations:

Remain long, stop at 1.44, target is 1.4750/1.48.

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 is testing a support line at 1.4490/1.4500 . Thanks for your support on GBPCHF is testing a support line at 1.4490/1.4500

GBPCHF is testing a support line at 1.4490/1.4500 Trend News

Technical outlook and chart setups:

The currency pair is testing the outer support line in the daily chart view depicted here at 1.4490/1.4500 levels. It is still recommended to initiate long positions with a risk at 1.4400 from here on. The resistance is fixed at 1.4900 levels; while supports are spread through 1.4350, followed by 1.4200 and 1.4050 respectively. The structure reveals that a pullback is due towards 1.4750/1.48 levels, if not higher from here on. On the flip side, if the trend line breaks down, prices would further weaken towards 1.4300 levels. Higher probability trade is to remain long from here on keeping the trend line support.

Trading recommendations:

Remain long, stop at 1.44, target is 1.4750/1.48.

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 is testing a support line at 1.4490/1.4500 . Thanks for your support on GBPCHF is testing a support line at 1.4490/1.4500