Gold minimum target should be at $1,150/60. Trend News

Technical outlook and chart setups:

The metal is making lower lows and lower highs and till the time it continues, there is no reason to believe that the trend has changed. As depicted here, at the moment, resistance is seen around the $1,210/20 region, and fresh short positions can be initiated if the price reaches there. Downside extensions are pointing towards $1,160.00 and $1,145.00 respectively. The immediate swing resistance is at $1,250.00 and till the time the price stays below it, bears are clearly in control. Support is at $1,180.00 for now, followed by the $1,150.00 region respectively. We expect some bullish reaction at the $1,150.00 levels, but a break will open up lower levels.

Trading recommendations:

Sell towards $1,210/20, set stop at $1,250.00 and target is at $1,160.00

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 minimum target should be at $1,150/60. . Thanks for your support on Gold minimum target should be at $1,150/60.

EURJPY still range bound. Support is at 141.00 Trend News

Technical outlook and chart setups:

We took a closer look at the 4H chart. As seen here, the currency pair has been trading in a range of support (141.00) and resistance (142.70/80) for several sessions now. At the moment, short positions have been taken and it still recommended to remain short with risk just above 143.00. A breakout on the north side would however warrant further upside potential, and it would be advisable to flip to long positions above 143.00 levels. On the other hand, a break down of 141.00 would be extremely bearish and push prices to atleast 139.00 levels. Further support levels are 138.50, 137.00 and 134.00 respectively.

Trading recommendations:

Existing short positions could be held with a stop above 143.00. Fresh positions should be taken only upon a breakout to either side.

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 still range bound. Support is at 141.00 . Thanks for your support on EURJPY still range bound. Support is at 141.00

GBPCHF turns from resistance between 1.47-1.4750. Hold short positions Trend News

Technical outlook and chart setups:

As expected, the currency pair has reversed from the resistance zone of 1.4700/50, producing an engulfing bearish candle. Short positions might have triggered and it is recommended to hold the same and also add on intraday rallies from here on. Risk remains at 1.4900. Resistance is at 1.4900; while support is at 1.4350, followed by 1.4200 and 1.4000 respectively. The entire structure might be unfolding as a head and shoulder reversal; where the current engulfing bearish is probable right shoulder. Extensions are pointing towards 1.4150 and 1.4000 levels respectively. Prices should remain below 1.4900 levels from here on.

Trading recommendations:

Remain short, set stop at 1.4910, 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 GBPCHF turns from resistance between 1.47-1.4750. Hold short positions . Thanks for your support on GBPCHF turns from resistance between 1.47-1.4750. Hold short positions

Gold analysis for December 20, 2013 Trend News

Gold prices are unfolding in a downward impulsive move which we label as wave 5 of the decline that started at 1,360. We expect prices to continue lower towards our Head and shoulders target of 1,140. First support area is the previous low at 1,179 which can provide a small upward bounce.

Trend remains downward and bears should feel comfortable as long as prices continue to trade below wave (2) high and below the purple downward sloping resistance trend line. Short term support is found at 1,179 and then at 1,120-1,140.

The daily chart confirms our bearish view which was our preferred wave scenario. Prices are moving downwards in an impulsive pattern making lower lows and lower highs. We expect this downward move to continue to new lows.

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 analysis for December 20, 2013 . Thanks for your support on Gold analysis for December 20, 2013

Elliott Wave analysis of EUR/NZD for December 20, 2013 Trend News

Today's Support and Resistance levels:

R3: 1.6756

R2: 1.6694

R1: 1.6659

Current Spot: 1.6626

S1: 1.6597

S2: 1.6569

S3: 1.6517

Technical summary:

We are still looking for the final rally in blue wave v higher towards 1.6869 to end the leading diagonal. Once we have seen 1.6869 tested we should see a correction lower towards 1.6569. That said, we have to be aware of the possibility of blue wave v already being in place with the high set at 1.6807. If this is the case, the next rally will break right through resistance at 1.6869 for a continuation towards 1.7239. Only time will tell, which scenario is the correct one.

Trading recommendation:

Stay long EUR from 1.6715 with your stop at 1.6560. If you are not long EUR already, then buy a break above 1.6658 with the same stop at 1.6560.

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 December 20, 2013 . Thanks for your support on Elliott Wave analysis of EUR/NZD for December 20, 2013

Elliott Wave analysis of EUR/JPY for December 20, 2013 Trend News

Today's Support and Resistance levels:

R3: 143.24

R2: 142.89

R1: 142.59

Current Spot: 142.38

S1: 142.14

S2: 141.86

S3: 141.41

Technical summary:

It is still an open question whether we have seen an important top at 142.89 or we need more upside action before the top is finally in place. To confirm, that we have an important top in place we still need a break below 140.91.

Short term we will be looking for minor resistance at 142.59 likely protecting the upside for a break below 142.14 and more importantly a break below 141.86, which confirms a new test of support at 140.91, but only below here confirms that the top is in place. However, even if we do get a break above 142.89, the upside progress should be very limited, likely we will not see more than 143.24 tested.

Trading recommendation:

Stay short from 141.70 with a stop at 142.90. If you are not short yet, then sell a break below 142.14 with the same stop at 142.90.

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 20, 2013 . Thanks for your support on Elliott Wave analysis of EUR/JPY for December 20, 2013

Gold analysis for December 19, 2013 Trend News

Yesterday, we mentioned that our favorite wave scenario was that we are currently in wave 4 and a final wave down to new lows was anticipated. The confirmation would come if $1,220-$1,210 was broken. We also expected prices to break resistance or support levels after the announcement of the FED policy regarding the tapering of the QE program.

Gold prices broke down and are now trading at $1,200. As long as prices trade below the purple trend line resistance, we will remain short with $1,180-$1,190 minimum targets. This is most probably the final 5th wave from $1,360.Stop for bears now is the $1,245 level. Bulls could find support at $1,190-$1,180 where the previous lows are.

The daily chart continues to support short positions as trend remains downward. Important daily resistance is the $1,268 price level. A daily close above that price level will confirm trend reversal in the short term. Our target remains at $1,180-$1,190 in the short term.

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 analysis for December 19, 2013 . Thanks for your support on Gold analysis for December 19, 2013