GbpChf holding 1.44. Stay long for now Trend News

Technical outlook and chart setups:

The single currency pair has held support of 1.44 level well till now. Having tested the immediate support, the pair has bounced off the 1.45 mark for now. It is recommended to stay long as long as the prices are above the 1.44 mark comfortably. Support levels are spread through 1.4075 and lower from here; while resistance is fixed at 1.5 level (major). Immediate resistance levels are 1.47 and 1.48 mark. A rally past 1.46/1.47 now, would confirm that the pair is headed towards 1.5 level at least. We can expect major correction after that. Looking higher for now.

Trading recommendations:

Remain long, stop is at 1.4350, and target is open.

Good luck!

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GbpChf holding 1.44. Stay long for now Trend News

Technical outlook and chart setups:

The single currency pair has held support of 1.44 level well till now. Having tested the immediate support, the pair has bounced off the 1.45 mark for now. It is recommended to stay long as long as the prices are above the 1.44 mark comfortably. Support levels are spread through 1.4075 and lower from here; while resistance is fixed at 1.5 level (major). Immediate resistance levels are 1.47 and 1.48 mark. A rally past 1.46/1.47 now, would confirm that the pair is headed towards 1.5 level at least. We can expect major correction after that. Looking higher for now.

Trading recommendations:

Remain long, stop is at 1.4350, and target is open.

Good luck!

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



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Elliott Wave analysis of EUR/NZD for June 10, 2013 Trend News

Today's Support and Resistance levels:

R3: 1.6961

R2: 1.6921

R1: 1.6881

Current Spot: 1.6837

S1: 1.6781

S2: 1.6726

S3: 1.6678

Technical overview:

The wave 3 rally just keeps moving higher and higher. It is most likely we have ended green wave v and blue wave iii at 1.6687 and after a very small and brief blue wave iv we saw the next move higher in blue wave v, which when it ends near 1.6921 or maybe even first at 1.7053 only will end red wave iii. As we said trying to sell EUR looking for a deeper correction could easily leave you with a loss and no chance to get onboard the train higher again. In the short term we are looking for support at 1.6726 and 1.6678 to protected the downside for the rally higher towards 1.6921 and 1.6961 as the next small targets.

Trading recommendation:

We are long EUR from 1.5790 and will move our stop higher to 1.6550. If you are not long EUR yet then possible potential in this rally is deminising quickly, but we still recommends buying EUR near 1.6678 with the same stop at 1.6550.

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Elliott Wave analysis of EUR/JPY for June 10, 2013 Trend News

Today's Support and Resistance levels:

R3: 130.88

R2: 130.36

R1: 129.98

Current Spot: 129.52

S1: 129.18

S2: 128.58

S3: 128.21

Technical overview:

With a low at 126.11 we saw a very slight break below our target at 126.15, but the following rally has broken above the bottom of wave i at 129.41 and, therefore it cannot be wave iv of c. Therefore, we have changed our count slightly to a finished wave c and W at 126.11 and we are now in a X-wave towards 130.36 and possibly even 130.88 before the next decline towards our major wave 2 target near 118.73. In the short term we are looking for support in the 129.10 - 129.20 range for the rally higher to 130.36 and possibly even 130.88 before the next decline sets in. A break below 128.79 confirms that the X-wave is over and the second zig-zag correction has begun.

Trading recommendation:

Our stop at 129.45 was hit for yet another nice little profit. We are now looking to re-sale EUR at 130.75 or upon a break below 128.58 with a stop at 131.45.

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Silver continues trade in the range. Expect break above 23.00 soon Trend News

Technical outlook and chart setups:

The metal continues to drift sideways between 22.00 (Support) and 23.00 (Resistance) since several trading sessions. It is recommended to hold long positions taken earlier, but fresh long positions could be taken on a break above 23.00 level, which should be expected soon enough. Immediate resistance is at 23.00, followed by 24.00 and higher up; while immediate support is at 22.00, followed by 21.30/40, 20.75 and lower. Range trading is also recommended by selling the resistance and buying the support, for scalping. Breakout should be traded in the same direction.

Trading recommendations:

Hold on to long positions taken earlier, stop is at 20.50, and target is open.

Good luck!

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Gold breaks cone consolidation. 1,450.00 in sight now Trend News

Technical outlook and chart setups:

The metal is finally out of the cone consolidation as depicted here. 1,405/06 levels should now act as support for Gold. Immediate support is at 1,390.00 level, followed by 1,370.00, 1,340/50 and 1,324.00, while resistance is now lined up through 1,440/50, followed by 1,488 and higher up. The whole wave structure could be possible unfolding into a 3 wave correction towards 1,500/25 levels in the sessions to come. It is recommended to hold long positions and buy further on dips towards 1,405/06 levels. Looking higher for now.

Trading recommendations:

Hold on long positions, stop is at 1,380.00, and target is at 1,500/25.

Good luck!

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



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Gold breaks cone consolidation. 1,450.00 in sight now Trend News

Technical outlook and chart setups:

The metal is finally out of the cone consolidation as depicted here. 1,405/06 levels should now act as support for Gold. Immediate support is at 1,390.00 level, followed by 1,370.00, 1,340/50 and 1,324.00, while resistance is now lined up through 1,440/50, followed by 1,488 and higher up. The whole wave structure could be possible unfolding into a 3 wave correction towards 1,500/25 levels in the sessions to come. It is recommended to hold long positions and buy further on dips towards 1,405/06 levels. Looking higher for now.

Trading recommendations:

Hold on long positions, stop is at 1,380.00, and target is at 1,500/25.

Good luck!

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



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