EurJpy targets 123.00. Initiate/hold short positions Trend News

Technical outlook and chart setups:

The single currency pair has reversed, taking out our stop at 126.00 level. It is recommended to initiate short positions with a target of 123.00 level. Immediate resistance is 129.00, followed by 131.50, 132.00 and higher up. The structure indicates a major retracement on the downside is possible now. Currently trading around 125.00 level the pair is expected to reach 123.00 and lower in coming trading sessions. Trading strategy from here on should be selling rallies towards 127.00/50. This could be a possible Head and Shoulder Reversal and looking for further bearish targets which shall be updated tomorrow. Looking lower now.

Trading recommendations:

Sell now, stop is above 129.00, and target is 123.00 and lower.

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 targets 123.00. Initiate/hold short positions . Thanks for your support on EurJpy targets 123.00. Initiate/hold short positions

Elliott Wave analysis of EUR/JPY for June 13, 2013 Trend News

Today's Support and Resistance levels:

R3: 128.16

R2: 127.58

R1: 127.09

Current spot: 126.55

S1: 126.50

S2: 125.77

S3: 125.20

Technical overview:

With the rally to 129.34, the correction from 127.10 became slightly higher than we expected, but it did not change the larger picture in any way. Currently we are testing strong support at the neckline at 126.50, but it should just be a matter of time, before this support breaks and we see a continuation lower towards 125.77 and 125.20. Our ideal target for the ongoing wave 2 is at 118.73, where wave 2 will have corrected 38.2% of wave 1 and it is also where we find the bottom of wave iv of one lesser degree. In the short term we will find resistance at 127.09, which ideally will protect the upside, but it will take a break above 128.17 to invalidate our bearish call.

Trading recommendation:

We are short EUR from 130.75 and will move our stop lower to 128.25. If you are not short EUR already, then sell close to 127.09 or upon a break below 126.50 (one order done cancels the other) with the same stop.

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 June 13, 2013 . Thanks for your support on Elliott Wave analysis of EUR/JPY for June 13, 2013

EUR/NZD Elliott Wave analysis for June 13, 2013 Trend News

Today's support and resistance levels:

R3: 1.7109

R2: 1.6980

R1: 169.34

Current Spot: 1.6888

S1: 1.6798

S2: 1.6739

S3: 1.6662

Technical overview:

Our expectation of a top at 171.09 was clearly confirmed yesterday, as we broke below support at 1.6692 without any problems. We are looking for black wave iv declining to 1.6399 before the final black wave v can take over. In the short term, we are looking for resistance at 1.6934 to protect the upside for a break below 1.6798, which will confirm that the next decline lower is unfolding. However, if we break above 169.34 we might already have seen the bottom of black wave iv at 1.6537 and should expect a new rally towards 171.09.

Trading recommendation:

We short EUR from 1.6797 and will move our stop lower to 1.6950. We will place our take profit + reverse our short EUR position to a long EUR position at 1.6450. If you do not have short positions on EUR already, then sell EUR here or upon a break below 1.6798 with the same low risk stop.

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/NZD Elliott Wave analysis for June 13, 2013 . Thanks for your support on EUR/NZD Elliott Wave analysis for June 13, 2013

Elliott Wave Analysis of EUR/NZD for June 12, 2013 Trend News

Today's Support and Resistance Levels:

R3: 1.6992

R2: 1.6956

R1: 1.6920

Current Spot: 1.6836

S1: 1.6809

S2: 1.6772

S3: 1.6692

Technical Overview:

We think there was the culmination of black wave iii at 171.09 yesterday. It was a little higher than our ideal target near 1.7040, but then trying to pin-point the top of an extended wave three is not the easiest thing to do. In short-term, we are looking for a minor rally towards 1.6956 and ideally to 1.6992 before the next decline begins. This decline should break below 1.6800 and more importantly - below 1.6692, which will confirm that we have seen the top of black wave iii and that black wave iv towards 1.6399 is developing. That said, we must consider the possibility of black wave iv to be sub-normal, because of the strength of black wave iii, but only time will tell.

Trading Recommendation:

Take profit at 1.7015 was hit yesterday and we took a huge profit. We are now looking for a EUR-selling opportunity and will sell EUR at 1.6980 or upon a break below 1.6800 (one order cancels the other) with a stop at 171.15.

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 June 12, 2013 . Thanks for your support on Elliott Wave Analysis of EUR/NZD for June 12, 2013

EUR/JPY Elliott Wave analysis for June 12, 2013 Trend News

Today's support and resistance levels:

R3: 129.20

R2: 128.96

R1: 128.70

Current spot: 128.44

S1: 128.09

S2: 127.42

S3: 127.10

Technical overview:

We have seen a nice impulsive decline from the 131.31 high, which confirms that the x wave did end at 131.31 and the second zigzag lower now has begun. In the short term, we are looking for a minor rally towards resistance at 128.70 and maybe 128.96 before the next decline sets in. A break below support at 128.09 and, more importantly, a break below 127.42 confirms, that the next decline towards strong support at 126.30 is developing. However, a break below support at 126.30 confirms, that a decline to our ideal wave 2 target at 118.73 is developing.

Trading recommendation:

We short EUR from 130.75 and will move our stop lower to 131.35. If you do not have short positions on EUR yet, then sell it close to 128.70 with the same stop.

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 Elliott Wave analysis for June 12, 2013 . Thanks for your support on EUR/JPY Elliott Wave analysis for June 12, 2013

Silver: Buy on dips. Major support at 21.20/30 Trend News

Technical outlook and chart setups:

The structure remains unchanged for now. Prices are out of consolidation range of 22.00 and 23.00 for now. 22.00 level shall provide short-term resistance for the metal. On the lower side, supports are spread through 21.20/40 levels (the Fibonacci 0.618 level of the rally between 20.00 to 23.00 recently). A bullish reversal here would trigger rally towards 25.00 level in the coming sessions. It is therefore recommended to hold long positions for now and look to add towards 21.20/40, if reached. Please note that Silver has printed lows at 20.00 level, while Gold has not. This divergent picture warrants that a reversal could be in store. Looking higher for now.

Trading recommendations:

Hold long positions for now, stop is at 20.50, and target is open.

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: Buy on dips. Major support at 21.20/30 . Thanks for your support on Silver: Buy on dips. Major support at 21.20/30

Gold: Major support at 1,350.00. A break here would be critical for bulls Trend News

Technical outlook and chart setups:

The metal has been testing out patience levels recently. As depicted here, we are focusing on the recent swings from 1,324 to 1,488 and 1,340 to 1,420. This structure depicts a cone consolidation and with in the structure, Gold is at a possible Fibonacci convergence at 1,368/70 levels, as depicted. A bullish bounce here, would trigger a rally which could break past 1,425.00 resistance level. For now, the line of support is pointing towards 1,350.00, while line of resistance is at 1,410.00 level respectively. Hence it is recommended to remain long in the metal till prices remain above 1,350.00. One 1,410.00 level is cleared further aggressive buying could be made in the counter. On the flip side a break of 1,350.00 would prove to be critical for bulls.

Trading recommendations:

Remain long for now, move stop to 1,345.50, and target is open.

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: Major support at 1,350.00. A break here would be critical for bulls . Thanks for your support on Gold: Major support at 1,350.00. A break here would be critical for bulls