Crude oil: Mathematical Analysis with Murray Lines for January 22, 2014 Trend News

Daily chart

After several days of indecision Crude Oil finally was picking up Tuesday with a large candle of decision. Although it was not sufficient to break the top line of its trading range as the 5/8 (green line), however, it shows us that the force is on the side of buyers. Therefore, we can expect that the following days continue with their upward trend and take buying positions above 95.31, with goals of at least 160 pips until its next resistance at 96.88.

4-hour chart

The price is drilling its housing price for the top area, which gives us indications that the bulls seem to regain control.

Although at this time Crude Oil is encountering resistance at the 5/8 line (green line) and this can make it back a little, despite the accumulation of candles that exists in the area of range which he departed the price, it will be a support area to take into account.

1-hour chart

Finally in the 1-hour chart Crude oil is on the verge of the top line of the channel of trend and although we can expect a slight setback in the next few hours, the more likely it is that during the American session prices will continue to climb, but if the price again enters below the bracket which broke after their promotion makes it about 4 hours, this panorama is invalidated and the best thing would be leaving our buying positions.

If you have any questions or suggestions, please contact me right through:

Email:antonio.inga@analytics.instaforex.com DISCLAIMER

No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature.

The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.

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Technical analysis of EUR/USD for 22.01 Trend News

The German economy grew 0.4% in the previous year and is expected to show better performance in the current year of 2014. The euro zone is showing a good sign of recovery led by increase domestic demand. Strong domestic demand plays a vital role in the German recovery. In the year of 2013, GDP stretched by just 0.4% compared to 2012, the worst performance since 2009 - the lowest level for four years. In 2014, GDP is forecasted to grow by 1.2-2.0%. We can see investments by German companies going higher, which is a good sign.

In the currency front, EUR/USD is trading at the level of 1.3558. After making a new high in 2013 at the level of 1.3893 the pair went through correction. In the daily charts oscillators sign oversold indications, which lead to a pull back. But overall trend is down. The pair breaks the trend line and close below the trend line, the first sign of bearishness, prices trading below 21DEMA which adds more bearish views. Final confirmation of bearishness comes if prices close below 1.35, until pull back to resistance zones is possible.

Support- 1.3550 1.35

Resistance- 1.3620 1.365

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Gold holds at weekly support, sell on rallies Trend News

Gold rallies on inconsistent economic growth in the US and Festival demand in China. Traders eye at the January 28-29 Fed meeting. On the other hand, Chinese seasonal demand increased, due to the Spring festival that will begin on January 31. In India the wedding season has started, due to which the demand for physical gold has increased. The Dollar shows a good strength trading above 81.0 and may strengthen further if this week Unemployment claims and existing home sales result will positive. Strong dollar is a negative sign for Gold ad it may drag yellow metal towards down side.

In the daily charts oscillators produce a sell signal. Due to the oversold conditions prices will pull back a little bit. Overall trend is down. In the weekly basis, yesterday gold took support at the level $1,235 which is equal to last week's low of $1,234.

Prices rebound from the level of $,1235.30, down side limited due to over sold conditions in the hourly charts. Oscillators gave a buy signal with sl 1,234. The rest of the week, if gold save its weekly support at the level $1,234, we see pull back in the charts towards the resistance zones. Prices trading below 21DEMA, further up move could possible only above 1,245. We still stick to sell on rallies strategy.

Intraday

Support- $1,239 $1,234

Resistance $1,245 $1,259

Intraday Strategy-

Buy with sl $1,234 for targets T1-$1,244 T2-$1,250 T3-$1,255, cmp $1,241. (t2 and t3 will come only above prices trades above $1,245)

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Technical analysis of GBP/USD for January 22, 2014 Trend News

Trading recommendations :

• According to previous events, the price of the GBP/USD pair has still been trapped between 100% of Fibonacci retracement and 61.8% in H1 chart.


• Long Buying :


• Buy above 1.6387 with the first target of 1.6466, it might resume to 1.6515.


• Short Selling :


• Outlook -1-: Swing trade at 1.6520 in order to sell with a traget of 1.6460.


• Outlook -2-: Below 1.6455 look for further downside with 1.6412 (in order to test the weekly pivot point) and 1.6383 targets.

Intraday technical levels :

Date: 22/01/2014

Pair: GBP/USD

• Projected high: 1.6656


• Breakout (buy stop): 1.6601


• Strong resistance (sell limit): 1.6571


• Current pivot: 1.6442


• Strong support (buy limit): 1.6313


• Breakout (sell stop): 1.6288


• Projected low: 1.6238

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Technical analysis of EUR/USD for January 22, 2014 Trend News

The EUR/USD pair for swing trade on January 22, 2014.

The last four strong levels:

• Swing bearish trade = (Sum of Resistances ) / (Total of Resistances)


• Swing bearish trade = (1.3471 + 1.3585 + 1.3653 + 1.3767) / 4


• Swing bearish trade = 1.3619


• The market will indicate a bearish opportunity at the level of 1.3620. Hence, it will very profitable to take profit at the 1.3585 price as the first target and it is going to continue towards the price of 1.3515.

Weekly pivot point = 1.3585

• The value of 100% Fibonacci retracement is: high = 1.3698 in H1 chart.


• The best location for placing a stop loss should be placed above 1.3686.

It should be noted that:

• Take profit = 110 pips.


• Stop loss = 66 pips.


• Take profit = 5/3 * Stop Loss.

Stop loss should never exceed your maximum exposure amounts.

Risks to reward ratios are important and should be calculated.

Example :

• A risk reward ratio of 1:1.7 is recommended:


• Risk: 66 pips must make a profit of 112 pips.


• 66 pips * 1:1.7 = 45 pips.

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Daily analysis of USDX for January 22, 2014 Trend News

Daily chart: The USDX has made a bearish rebound that could indicate a change in trend, as the USDX could be finding dynamic resistance in the 200 SMA. Now, the USDX is approaching consolidate below the 200 SMA, so it is very likely that the USDX to fall to the support level of 80.62. However, it is also very likely that USDX will make a bullish rebound at current levels and go up to the resistance level of 81.50. The MACD indicator is in positive territory.

H4 chart: The USDX is maintained within the range between 81.29 and 80.99 levels. It is very likely that the USDX find strong support at the level of 80.99, but the USDX could conduct a breakout at that support level, as the MACD indicator is in negative territory, so the strength of the bears could dominate the USDX in the short term. However, the USDX remains in positive territory, so our bullish outlook remains alive.

H1 chart: The USDX found resistance near the level of 81.40, where it formed a fractal. Now, the USDX is forming a higher low pattern near the support level of 81.09. If the USDX makes a breakout at that level, would be expected to fall to the level of 80.93, where the 200-day moving average is located. Furthermore, the USDX could perform a bullish rebound at current levels and up to the resistance level of 81.40, which is the closest point of control. The MACD indicator is in negative territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX Index breaks with a bearish candlestick; the support level is at 81.09, take profit is at 80.93, and stop loss is at 81.25.

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Technical analysis of USD/JPY for January 21, 2014 Trend News

Overview:

USD/JPY is expected to consolidate after hitting a four-day low of 103.87 Monday. It is supported by the JPY sales on rebounding yen crosses after stronger-than-expected China 4Q GDP data, the demand from Japan importers and ultra-loose Bank of Japan's monetary policy. But USD/JPY upside is limited by broadly weaker dollar undertone (ICE spot dollar index last 81.03 versus 81.21 early Monday) and still-subdued investor risk mood as the European stocks edged lower on Monday (Stoxx Europe 600 index slipped 0.1% to end at 335.50) and Japan exporter sales. Daily chart is mixed as MACD is bearish, but stochastics is neutral.

Trading recommendation:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 104.75 and the second target at 105.05 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 103.8.A breach of this target will move the pair further downwards and one may expect the second target at 103.5. The pivot point stands at 104.15.

Resistance levels:

104.75

105.05

105.45

Support levels:

103.8

103.5

103.2

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Technical analysis of USD/CHF for January 21, 2014 Trend News

Overview:
USD/CHF is expected to consolidate in higher range after hitting a two-month high of 0.9132 Monday.It is undermined by the broadly weaker dollar undertone and franc demand on the rebounding CHF/JPY cross. Daily chart is still positive-biased as MACD and stochastics are bullish, although the latter in overbought zone, five and 15-day moving averages are advancing.

Trading recommendation:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.9185 and the second target at 0.9225 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9055.A breach of this target will move the pair further downwards and one may expect the second target at 0.9035. The pivot point stands at 0.908.

Resistance levels:

0.9185

0.9225

0.925

Support levels:

0.9055

0.9035

0.9

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Technical analysis of NZD/USD for January 21, 2014 Trend News

Overview:

NZD/USD is expected to trade in higher range. It is supported by the surprise 0.1% quarter rise in New Zealand 4Q CPI (versus the forecast 0.1% fall),the hawkish Reserve Bank of New Zealand's monetary policy stance and Kiwi demand on soft AUD/NZD cross, rebounding of NZD/JPY cross, and broadly weaker dollar undertone. Daily chart is mixed as stochastics is in bearish mode, but MACD is still bullish.

Trading recommendation:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.8335 and the second target at 0.839 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8225. A breach of this target will move the pair further downwards and one may expect the second target at 0.8195. The pivot point stands at 0.827.

Resistance levels:

0.8355

0.8385

0.8425

Support levels:

0.8225

0.8195

0.8155

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GBP/USD intraday technical levels and trading recommendations for January 21, 2014 Trend News

The daily chart showed bearish rejection at the upper limit of the ongoing channel around 1.6590 (on January 2) with a quite strong bearish engulfing candlestick.

This was followed by bearish breakdown of the first support trendline located at 1.6490 where a descending high was established last week.Since then, the pair has been consolidating within price range1.6320-1.6500.

On Friday, the bears failed to close below 1.6320 (2nd support trendline). Instead, considerable bullish rejection was expressed.

The technical outlook suggests taking a SELL entry at 1.6460. Daily closure above 1.6460 invalidates this SELL entry.

On the long-term, daily breakdown below 1.6333-1.6300 is a must to collect further bearish momentum to push towards 1.6230-1.6200 initially.

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GOLD analysis for January 21, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,242.90 on high volume (selling climax) according to M30 timeframe.We can also observe selling climax and testing of our FR 61.8 % at 1,244.00. Since the price has broken the level of 1,254.00, we may expect testing of previous swing high at 1,260.00 and possible testing of major FE 100 % at 1,279.00-1,295.00. Do not forget, gold is in bearish trend and we are now in bullish corrective phase. If our submajor FR 61.8 % at 1,244.00 can not hold,we may see testing of major FR 38.2 % around the price of 1,233.00-1,230.00, before another bullish movement. Anyway, selling gold at this stage looks risky since gold is in progress of bullish corrective phase, and we saw demand on the high volume in the background. Watch for buying opportunities.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,257.20

R2: 1,258.34

R3: 1,260.17

Support levels:

S1: 1,253.54

S2: 1,252.40

S3: 1,250.57

Trading recommendation: Trading the metal, be careful with selling gold and try to catch bullish corrective phase.

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Elliott Wave Analysis of AUD/USD for January 21, 2014 Trend News

AUD/USD Elliott Wave
Since our last analyses the AUD/USD pair has continued trading upwards, corrective wave ii (coloured blue) ofthe bigger wave (v) (coloured red) has been developing. In the 1-hour chart we can see that the price was pushed towards the 0.8837 level yesterday, this move look corrective and that is why weare going to stay buyers while the price stays above the low at the 0.8757 level. Traders who want to join thelong should wait for a break above 0.8800 that should provide new fresh buying signal, and everyone who arealready long can move stops to break even. In accordance with our wave rules and taking into account that wave1 should retrace 50% of wave 1, we can define the potential targets with measuring wave 1 with take profit at0.8920 (50% of wave 1).

Alternate count: From the low at 0.8757 we already have enough sub-waves to call wave ii (coloured blue)completed, break below 0.8757 is going to switch us to sellers, so keep your eyes on this important level.

Support and Resistance
(S3) 0.8707 (S2) 0.8732 (S1) 0.8771 (PP) 0.8796 (R1) 0.8835 (R2) 0.8860 (R3) 0.8899

Trading forecast
Proceeding from Elliot Wave rules today, the trend is expected to begin the upward movements. That is why longpositions at level 0.8800 with stop loss at 0.8756 and take profit at 0.8920 are recommended.

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USD/CAD intraday technical levels and trading recommendations for January 21, 2014 Trend News

The bulls are pushing towards new price levels (1.1010) that haven't been reached since September 2009 in reaction to the positive fundamental data from the United States and in Canada.

Today,Comments by Fed's watcher Jon Hilsenrath about the probability to reduce further monetary easing in the next week applied further bullish pressure against other currencies including CAD.

The next prominent resistance level is around 1.1230 corresponding to 50% Fibonacci Level of the depicted bearish movement between March 2009 and July 2011. Temporary resistance off the price level of 1.1000 may be expressed first as it corresponds to the upper limit of the depicted bullish channel.

The USD/CAD pair has a prominent support zone at 1.0700-1.0750 which represents the upper limit of consolidation range that got broken this month.Any further testing of this zone will provide a valid BUY entry for the mid-term.

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Intraday technical levels and trading recommendations for EUR/USD for January 21, 2014 Trend News

Bullish movement above 1.3450 within the depicted bullish channel allowed the pair to reach further supply levels around 1.3650 and 1.3750, respectively. This was taking place until obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904).

A breakdown of the depicted bullish channel took place shortly after (January 2). This led to the current bearish movement within the newly established bearish channel.

Within the depicted bearish channel, the bears managed to hit lower lows at 1.3550 then 1.3500 (bullish rejection was expressed yesterday)

The daily chart outlook remains bearish probably targeting at 1.3470-1.3400 (lower limit of the channel and prominent DEMAND levels on the DAILY chart).

The EUR/USD pair consolidated around 100-SMA (located at 1.3660) showing indecision. As expected, this led to a bearish movement towards 1.3500 earlier this week.

The pair remains moving within the channel probably heading to test the lower limit at 1.3450 where bullish rejection is expected to be found.

We should note that 1.3525 is an important key-level on the intraday basis. It corresponds to previous price ranges that goes back to December 3. 4H fixation below which is essential to gather futher momentum to push towards levels around 1.3400. Otherwise, a bullish impulse towards 1.3600 would be expected.

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EUR/NZD analysis for January 21, 2014 Trend News

Overview:

Since our last analysis, the EUR/NZD pair has been trading downwards, as we expected, the price rejected from the level of 1.6493 on high volume and tested 1.6233 on ultra high volume (selling climax). As you can see in the chart, our FE 161.8 % at 1.6480 held successfully and the price started downward movement from that point.We can observe selling climax at 1.6272 on ultra high volume which is a sign that selling at this stage looks very risky. The first upper stations are FR 38.2 % at 1.6335 and FR 61.8 % at 1.6400. In case that the price continues with downward movement, we may see the testing of previous swing lot at 1.6220. Do not forget EUR/NZD is in short- and mid-term bullish trend and selling EUR/NZD at this stage looks very risky, so watch for buying opportunities and try to catch bullish continuation phase.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6437

R2: 1.6489

R3: 1.6574

Support levels:

S1: 1.6268

S2: 1.6216

S3: 1.6132

Trading recommendation: Be careful with selling the EUR/NZD pair, watch for buying opportunities and try to catch bullish continuation phase.

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Intraday technical levels and trading recommendations for GBP/USD for January 21, 2014 Trend News

The double-top pattern establishedat testing of the level of 1.6600 (the upper limit of the expanding wedge)achieved its projection target (1.6350) one week later.

The failure of the GBP/USD pair to break down 1.6350 allowed enough bullish momentum to be gathered to push again towards 1.6460. This price level provided a SELL entry shortly after as expected.

Further bearish pressure was applied on the pair last week (lower highs around 1.6450 and 1.6375 and a lower low around 1.6300).

Failure of the bears to breach 1.6300 allowed the bulls to push again towards 1.6350 (50%Fibonacci and the upper limit of the ongoing channel) where another SELL entry can be taken with SL for all sell orders as 4H closure above 1.6400.

Estimated bearish targets are located at 1.6310 then possibly 1.6250-1.6230 (prominent DEMAND zone). The bears need to achieve 4H fixation below 1.6310 to gather enough bearish momentum.Otherwise, the bulls will be shooting at 1.6460 again.

Price action should be watched carefully at 1.6250-1.6230 to catch a BUY entry to make profits of the ongoing long-term bullish direction.

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Elliott Wave Analysis of EUR/JPY for January 21, 2014 Trend News

Today's Support and Resistance levels:

R3: 142.35

R2: 142.15

R1: 141.92

Current spot: 141.70

S1: 141.52

S2: 141.38

S3: 140.92

Technical summary:

We are now at the expected resistance levels we set out yesterday. In the short-term we could still see the test of resistance at 141.92, as long as support at 141.52 and more importantly as long as support at 141.34 protects the downside, but from 141.92 or upon a break below 141.34, we will see the next powerful decline in red wave iii towards 137.64 and possibly even lower towards 136.65.

Only an unexpected break above resistance at 142.91 will invalidate the bearish scenario above.

Trading recommendation:

We sold EUR at 141.85 with a stop at 142.95. If you are not short in EUR yet, then sell here or upon a break below 141.52 with the same stop at 142.95.

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Elliott Wave Analysis of EUR/NZD for January 21, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.6355

R2: 1.6333

R1: 1.6316

Current spot: 1.6303

S1: 1.6283

S2: 1.6249

S3: 1.6214

Technical summary:

With the break below 1.6403, we got the confirmation needed that the next impulsive decline towards 1.6129 and maybe even lower towards 1.6049 is developing. In the short-term we will ideally see resistance at 1.6310 protect the upside for a break below 1.6249, which confirms that the final decline towards 161.29 is developing. Once at 161.29 or perhaps even from the 1.6049 low which terminates wave (v) and iii we should see a new complex correction towards 1.6315 and likely even higher towards 1.6431 to end wave iv.

Trading recommendation:

Stay short from 1.6405 and move the stop lower to 1.6400. Place take profit at 1.6150. If you are not short in EUR yet, then sell near 1.6310 with the same stop and stop-profit levels.

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#USDX analysis for January 21, 2014 Trend News

The Dollar index continues to rise in an impulsive pattern making higher highs and higher lows. Prices are heading towards the previous highs resistance area of 81.50. The short-term trend remains bullish as the 80.40 support remains intact. The short-term trend will remain bullish, as long as prices trade above the purple trend line support as shown in the chart below.

The 81 level is important short-term support. Prices are unfolding upwards in an impulsive pattern and are expected to continue like this. We expect the previous high to be broken soon and the Dollar index to continue towards 82.50. I believe that short and intermediate term trend is bullish now, and we will have confirmation when prices break above 81.50.

The daily chart shows how close we are to breaking the previous highs. Breaking above 81.50 will technically open the way to 82.50. Prices continue to make higher highs and higher lows from 79.70. The trend has reversed up, and we should expect prices to continue higher. We prefer long positions, as long as prices trade above 80.40 on a daily level.

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Gold analysis for January 21, 2014 Trend News

Gold prices although managed to make a new higher high above $1,256, it did not manage to move much higher or touch the important resistance at $1,270. Prices look like they are taking another turn down and we should be very cautious as a short-term sell signal could be triggered once the purple trend lines are broken. The purple trend lines provide support as shown in the following chart.

Short-term support is found at $1,240. Breaking below that level will mean a possible trend reversal and important top could be in place. The short-term bullish trend will change to bearish once the last low at $1,234 is broken downwards. Currently the short term trend remains bullish as prices make higher highs and higher lows. Cancelation of this pattern will mean trend reversal. So going short when prices break $1,240-34 is our preferred strategy.

The daily chart above shows us that prices have reached important resistance levels on a daily level. The time is right for a trend reversal and a new downward move to start. Breaking below $1,230 on a daily level will confirm this trend change. Our longer-term target of $1,140 remains valid.

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Technical analysis of USD/CAD for January 21, 2014 Trend News

General overview for 21/01/2014 08:40 CET

Still the corrective price action in the range zone between the levels of 1.0927 - 1.0983 continues.

The key to the downside is the golden trendline breakout, below the Weekly Pivot level and ideally below Intraday Support at the level of 1.0927.

On the other hand, the upper golden trendline is the key to the upside and breakout above the Intraday Resistance is bullish and last swing high is in view.

Please notice that if the upside breakout will happen before downside breakout, the count will be revised.

Support/Resistance:

1.1037 - WR1

1.0999 = Swing High

1.0983 - Intraday Resistance

1.0940 - Weekly Pivot

1.0927 - Intraday Support

Trading Recommendations:

Typical range breakout strategy should be used here to enter the position:

- in case of the level of 1.0983 break: long positions should be in play with SL below the level of 1.0964 and TP at the level of 1.1037

- in case of the level of 1.0928 break: short positions should be in play with SL above the level of 1.0999 and TP at the level of 1.0927

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Technical analysis of EUR/JPY for January 21, 2014 Trend News

General overview for 21/01/2014 8:15 CET

After finishing the corrective cycle, the price has broken above Weekly Pivot level and now the impulsive wave progression continues.

The first intraday target would be the level of 142.15, where the previous wave (iv) area is.

If this level is broken, then last SUPPLY ZONE between the levels of 143.15 - 143.31 will be put to the test and might get broken.

There is a chance that before the intraday resistance level of 141.83 is broken, price might step back and first test the Weekly Pivot level from the upside before the trend resumes.

Support/Resistance:

143.15 - 143.31 - SUPPLY ZONE

142.90 - Wave B High

142.32 - WR1

142.15 - Previous wave (iv) level

141.83 - Intraday Resistance

141.51 - Intraday Support

141.41 - Weekly Pivot

141.37 - Technical Support

Trading recommendations:

Breakout above 141.83 is bullish and long positions should be in play with SL at the level of 141.49 and TP at the level of 142.15 and 142.90.

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Daily analysis of GBP/JPY for January 21, 2014 Trend News

Overview

As it was expected last week, more bullish signals would be expected in case ofclosing above the Resistance level of171.50. Today, as it is shown inthe H4 chart, the pair has already managed to break the Resistance level and close 4H above it.Currently,the pair is approaching the Resistance level of172.20 trying to break it through to continue the upward move. More bullish signals would be expected in case of closing 4H above this Resistance level with thefirst target few pips below the Resistance level ofOF 173.00, then 173.50 as the second target.

Resistance and support levels:R3 (173.50),R2 (173.00), R1 (172.20), S1 (171.50), S2 (170.50). Use commas when

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Daily analysis of major pairs for January 21, 2014 Trend News

EUR/USD: As indicated by the Bearish Confirmation Pattern in the chart, the pair is weak and would continue to trend lower. The weakness of the EUR/USD is expected to continue irrespective of any short-term rallies in the market. The price would soon test the support line at 1.3500.

USD/CHF: As indicated by the Bullish Confirmation Pattern in the chart, this pair is strong and would continue to trend upwards. The strength of the USD/CHF is expected to continue irrespective of any short-term bearish corrections in the market. The price would soon test the resistance level at 0.9150.

GBP/USD: Surprisingly (though it is not new), this market has assumed a bullish bias and it may start putting more effort to go further northward – as engineered by the bulls. It is possible that the weakness of the EUR/USD might indirectly cause a limited bullish movement in the market, but the price could reach the distribution territory at 1.6500.

USD/JPY: The vagary of the USD/JPY is gradually becoming a major source of concern. Recent bullish and bearish signals have proven to be short-lived and unreliable. A movement would happen suddenly and not when expected; and when a new bias is confirmed, a reversal would soon occur. At the present, a bullish signal is in place and it seems logical for one to take a profit at 105.00.

EUR/JPY: This cross has been able to maintain it bearish bias, and rallies have always been opportunities to sell short here. There is a barrier the bullish attempts at 142.00. Meanwhile the price could fall further before reaching there.

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