GOLD Intraday Technical Analysis 2012-05-31

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Gold is currently testing the intermediate resistance of its medium term bearish channel at 1,575 and is about to decline. However, a break through these levels will reveal significant potential enabling to reach its upper limit in 1,610.
Technical indicators do not provide clear signals but as long as resistance is unbroken, the assumption of a decline is relevant. Bollinger bands are much discarded due to the strong decline that took place these days. The situation is expected to stabilize soon.
According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1,575 with the 1st objectives seen at 1,590 and 1,595 levels. In case the level 1,572 is passed through, the proposed scenario will be invalidated.

InstaForex

GOLD Intraday Technical Analysis 2012-05-30

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At the moment Gold is testing the intermediate support of its medium term bearish channel at 1,538 and is likely to rebound. However, a breakdown of these levels will release significant potential enabling to reach its lower limit in 1,491.
Technical indicators provide sellers signals but as long as support is unbroken, the assumption of a rebound is relevant. Bollinger bands are much discarded as a result of a strong decline these days. The situation is expected to stabilize in the nearest future.
According to previous events the market will provide a bullish opportunity at the level of 1,538 with the 1st targets seen at 1,550 and 1,555 levels. A breakthrough of 1,535 will cancel this scenario.

InstaForex

GOLD Intraday Technical Analysis 2012-05-29

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Gold is currently testing the intermediate resistance of its medium term bearish channel at 1,583 and seems to initiate a decline. However, a break through these levels will give good potential and the pair will be able to reach the upper limit of this one - 1,614.
Technical indicators do not provide clear signals but until the resistance is not punctured the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.
According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1,583 with the 1st objective at 1,595 and then at 1,598. A break through 1,580 will alter this scenario.

GOLD Intraday Technical Analysis 2012-05-28

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Gold is currently testing the intermediate resistance of its medium term bullish channel at 1,583 and is expected to decline. However, a breakdown of these levels will release significant potential enabling to reach its upper limit in 1,620.
Technical indicators provide buyers signals but as long as the resistance level is unbroken, it is very likely to decline. Bollinger bands are much discarded due to the strong increase that took place these days. The situation is expected to stabilize soon.
According to previous events the market will provide a bullish opportunity as soon as the gold will has broken through its resistance of 1,583 with 1,595 and 1,598 seen as first objectives. A breakthrough 1,580 will invalidate this scenario.

GBP/USD Intraday Technical Analysis for May 25, 2012

Weekly Pivot Point: 1.5715.

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GBP/USD:

• Resistance: 1.6030. (Sell below this level).
• Support: 1.5624. (Buy above this level).
  

Trading Recommendations:

According to previous events, the price is still located between the levels 1.5650 and 1.6030.

• The descending movement will probably take place lower than the 1.6030 level with the first targets at levels 1.5730 and 1.5633.
• BUY-deals are recommended higher than the 1.562 level with targets at levels 1.57 and 1.5889 (Weekly pivot point).

Overview:

It should be noted that the market revealed the signs of instability. The trend movement was controversial as it took place in a narrow sideways channel. Concerning the previous events, the price is still between the levels 1.5650 and 1.6030, so it is recommended to be cautious while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then, the market will probably indicate the signs of a bullish trend. In other words, BUY-deals are recommended higher than the 1.5625 level with its first target at the level of 1.5725. From this point the pair is likely to begin the ascending movement to the point 1.5825 and further to the level 1.5900. However, if the pair fails to pass through the level of 1.6030, the market will indicate a bearish opportunity below the strong resistance level 1.6030. In this regard, SELL-deals are recommended lower than the 1.6030 level with the first target at 1.5730. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.5633.

GOLD Intraday Technical Analysis 2012-05-24

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Gold is currently testing the intermediate resistance of its medium term bearish channel at 1,580 and seems to initiate a decline. However, a break through these levels will release good potential and will be able to reach the upper limit of this one to 1,620.
Technical indicators do not provide clears signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.
According to previous events the market will provide a bullish opportunity as soon as the gold has broken through its resistance of 1,580 with the 1st objective at 1,590 and then at 1,595. A break through 1,577 will invalidate this scenario.

GOLD Intraday Technical Analysis 2012-05-23

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Gold is currently testing the intermediate support of its medium term bearish channel at 1,552 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 1,508.
Technical indicators do not provide clears signals but are approaching the oversell zone supporting the assumption of a rebound. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events the market will provide a bullish opportunity at the level of 1,552 with the 1st objective at 1,565 and then at 1,570. A break through 1,549 will alter this scenario.