Elliott Wave analysis of EUR/JPY for Spetember 6, 2013 Trend News

Today's Support and Resistance levels:

R3: 132.14

R2: 131.48

R1: 131.16

Current Spot: 131.07

S1: 130.86

S2: 130.64

S3: 130.26

Technical summary:

Wave i of the new impulsive rally ended at 132.14 and was followed by an zig-zag wave ii correction. This wave ii correction is still ongoing to minor resistance at 131.16 and more important resistance at 131.48, which protects the upside. As long as these resistance levels protect the upside we will be looking for one last decline closer to our target at 130.64. That said we have to remember, that this is a wave ii correction and the second waves are allowed to correct all of the first wave, but it can never break below the starting point of the first wave, which in this case is at 129.30. However, once we have seen a test of support at 130.64 or a break above 131.48 we are looking for a new powerful rally higher, at least, towards 133.48 and more likely 135.24.

Trading recommendation:

Our stop at 131.25 was hit first for a nice profit. Buy EUR again at 130.75 or upon a break above 131.48 and place stop at 129.29

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 Spetember 6, 2013 . Thanks for your support on Elliott Wave analysis of EUR/JPY for Spetember 6, 2013

Elliott Wave analysis of EUR/NZD for September 6, 2013 Trend News

Today's Support and Resistance levels:

R3: 1.6806

R2: 1.6744

R1: 1.6654

Current Spot: 1.6586

S1: 1.6582

S2: 1.6485

S3: 1.6409

Technical summary:

This wave ii correction has proven to be a harder nut to crack than expected. Once again we have taken out what could be the final low and once again we had to adjust our short-term count. Once again we could be at the low for this wave ii correction, which now has corrected 70.7% of wave i. However, the second waves are allowed to correct the whole wave i, but can never break below the starting point of wave i, which in this case is at 1.6325. Again we see a possible hidden divergence, but it could also be a warning that we still have more downside moves to come. To end this wave ii correction we need a break above the resistance at 1.6651 and more importantly a break above 1.6806. A break above the latter will confirm that wave ii has finally come to the end and wave iii is moving higher, at least, to 1.7968.

Trading recommendation:

If you are long from 1.6752, stay long, otherwise buy EUR upon a break above 1.6651 with a stop at 1.6325 expecting to be able to raise you stop higher soon.

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 September 6, 2013 . Thanks for your support on Elliott Wave analysis of EUR/NZD for September 6, 2013

Gold Elliott wave analysis for September 5, 2013 Trend News

Gold prices fell sharply yesterday as expected after topping 1,415. Support at 1,400 failed and prices fell sharply below the recent low at 1,384 confirming that trend is down. Now trading at 1,388, we expect downward pressures to continue towards 1,360.

The short-term resistance is found at 1,395. If this resistance is broken upwards we could see a move towards 1,405. Important resistance is the recent high at 1,415. We do not think prices will manage to break that level. We expect prices to continue their pattern of making lower lows and lower highs. Next important support is 1,372.

If the 1,372 support is not broken and if there is no higher high above 1,415, then we could very well be inside a sideways triagnle. It is too early to confirm this scenario but until then we will remain bearish with 1,415 as stop. Our first target still remains at 1,350-60 area specially if 1,372 is broken. The longer term trend however remains bullish as no upward channel has been broken and all our automatic indicators still are green. This downward move could very well just be a small correction. In the next few sessions things will get clearer.

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 Elliott wave analysis for September 5, 2013 . Thanks for your support on Gold Elliott wave analysis for September 5, 2013

#USDX Analysis for September 5, 2013 Trend News

The Dollar Index after having topped 82.55, has now made an initial pull back towards the 23,8% Fibonacci retracement and is now re-testing the highs. We do not think the correction is over and we believe there is more downside to come.

The short-term resistance is found at 82.50-60 and short-term support is found at 82.25 and 81.95. We believe that prices are going to end the downward correction near the 38% Fibonacci retracement. The move from the lows at 80.75 is a three wave upward pattern and we now need the 4th wave correction to come and then the 5th wave to end an impulsive move from the lows. The alternative scenario will be that prices have already topped as the three wave pattern looks complete. So the alternative implies that we will not see higher prices than the recent high.

Prices have retraced the 38% of the entire decline from 84.75 to 80.75 and this shallow retracement also coincides with the strong resistance found at 82.50. As it was said above, you can see in the daily chart above that the upward pattern is in three waves now. The next couple of sessions will clear things up regarding which scenario will prevail. Concluding we are slightly bearish below 82.60 with 81.90-82 as a target.

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 September 5, 2013 . Thanks for your support on #USDX Analysis for September 5, 2013

Elliott Wave analysis of EUR/NZD for September 5, 2013 Trend News

Today's Support and Resistance levels:

R3: 1.6847

R2: 1.6799

R1: 1.6750

Current Spot: 1.6697

S1: 1.6674

S2: 1.6625

S3: 1.6572

Technical summary:

As minor, but important, resistance at 1.6933 had protected the upside from a break below support at 1.6801 we had to change our short-term count slightly (see the 15-minute chart below). With the decline to 1.6625 (deeper than expected) we have seen a 61.8% correction of wave i and wave c of the expanded flat correction has become 3 times longer than wave a. In the short-term, we will need a break above 1.6750 as the first indication, that wave ii could be over, but it will take a break above 1.6933 to confirm that wave ii is indeed over and wave iii is developing for a rally higher towards at least 1.8037 and possibly higher. However, as long as minor resistance at 1.6750 protects the upside we could see a slightly deeper correction in wave ii, but we are very close to a bottom now.

Trading recommendation:

Our stop at 1.6801 was hit. Buy EUR at 1.6590 or upon a break above 1.6750. Place stop at 1.6320 expecting to be able to raise your stop quickly.

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 September 5, 2013 . Thanks for your support on Elliott Wave analysis of EUR/NZD for September 5, 2013

Elliott Wave analysis of EUR/JPY for September 5, 2013 Trend News

Today's Support and Resistance levels:

R3: 132.59

R2: 132.28

R1: 131.95

Current Spot: 131.50

S1: 131.38

S2: 131.02

S3: 130.64

Technical summary:

We have seen the expected short-term rally towards the first target at 131.95. We have not hit 131.95 yet, but we still think, that there will be one more rally towards 131.95 before this wave i is over and wave ii takes over in a correction of wave i towards 130.95 and maybe even 130.64 before we can expect the next impulsive rally in wave iii towards at least 133.09. However, for now we should focus on pinpointing the top of wave i, which likely will be at 131.95, but with a possibility of extending higher towards 132.28 and even 132.59 before the wave ii correction takes over.

Trading recommendation:

Stay long in EUR and move your stop higher to 131.25 and take profit at 131.90. When the stop or the take profit is hit place a new order to buy at 130.75 with a stop at 129.30.

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 September 5, 2013 . Thanks for your support on Elliott Wave analysis of EUR/JPY for September 5, 2013

Silver resumes pullback. Remain short. Trend News

Technical outlook and chart setups:

Silver resumes the third wave down as expected yesterday. Modest extensions are pointing towards 21.70/80. The fibonacci 0.618 level is passing through 21.45/50 as well. It is recommended to remain short for now, and also move risk to break even levels. Intermediary resistance is at 24.50, followed by 25.00; while intermediary support is at 23.00, followed by 22.30 respectively. A push below 23.00 would confirm bearish expectations towards 21.40/50. Furthermore, it is also possible that prices fall till 20.50/21.00 levels, where the rising trendline is passing through.

Trading recommendations:

Remain short for now, move risk to breakeven levels, target is at 21.40/50.

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 resumes pullback. Remain short. . Thanks for your support on Silver resumes pullback. Remain short.