GOLD Intraday Technical analysis 2012-01-09

The gold is currently testing the upper limit of its medium term bearish channel in 1627 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1627 with a 1st objective of 1640, then 1645. A break in 1625 would invalidate this scenario.

http://instaforex.com/forex_analysis/47667/?x=OUE

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EUR/USD Intraday Technical Analysis & Trade Recommendation January 9, 2012

EUR/USD is having a downtrend making lower highs & lows inside the marked bearish channel.

Today, After recording a low at 1.2666 the pair shows some bullish power presented in the 4H hammer candlestick & the following bullish candlesticks.

This indicates retracement and profit taking. However, we focus on short opportunities in this downtrend.

The pair has a strong resistance level at 1.2860 which is 50% Fibonacci level of the swing between 1.3080-1.2666, last week's low & Last January's low also.

So this gives a good short entry at 1.2860 with TP at with TP at 1.2805, 1.2757, 1.2705 & 1.2630.

SL should be 4H closure above 1.2965.

http://instaforex.com/forex_analysis/47721/?x=OUE

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GOLD Intraday Technical Analysis 2012-01-06

Gold is currently testing the upper limit of its medium term bearish channel at 1,629 and seems to start declining. However, a break through these levels will free up significant potential and initiate a bullish trend.
According to previous events, the market will indicate a bullish opportunity as soon as gold price has broken its resistance at 1,629 with the 1st objective of 1,640, then of 1,645. A break of 1,627 will invalidate this scenario.

http://instaforex.com/forex_analysis/47563/?x=OUE

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AUD/USD Intraday Technical Analysis & Trade Recommendations for January 5, 2012

Technical analysis

Mohamed Samy

AUD/USD currency pair has a good supply zone extending between 1.0311 - 1.0438 marked on the chart.

Also there's the upper limit of the long-term bearish channel situated near this supply zone.

Today we see bearish reaction towards this zone which gives confirmation of the bearish view.

On the 4H chart, we see that the pair formed a small double top pattern at our mentioned zone.

During the last 4H candlestick, AUD/USD managed to confirm  the reversal pattern with 4H closure below 1.0311.

This gives a short opportunity at 1.0311 with SL daily closure above 1.0438.

TP should be at 1.0250, 1.0180 then 1.0080 then may extend down to 1.0000.

http://instaforex.com/forex_analysis/47515/?x=OUE

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GOLD Intraday Technical Analysis 2012-01-04

Technical analysis

Albert Fitoussi

The gold is currently testing the upper limit of its medium term bearish channel at 1609 and seems to start a decline. However, breaking through these levels will free significant potential and initiate a bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance at 1609 with the 1st target at 1620, then at 1625. A break at 1607 will cancel such scenario.

http://instaforex.com/forex_analysis/47355/?x=OUE

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Wave Analysis of EUR/USD for January 3, 2012

Wave analysis

Alexander Dneprovskiy

Analysis of the wave marking:
Due to the holidays season yesterday’s session EUR/USD overall wave stance did not alter significantly. Thus the price moved in a very narrow price range above the rate of the 29th figure. Meanwhile the formed wave structure still allows for a possible development of the marked prolonged upside correction as well as a chance for the pair to renew the decline to the next target rate for the 3rd wave (in the 5th) which corresponds to the mark of 1.2760-1.2750. At the same time we should pay attention to that if this target is hit in the nearest future the inner wave marking of the 5th wave in the 3rd would probably need to be slightly adjusted.

The targets of the correctional movement:
1.3023 – 161.8% Fibo
1.3080 – 127.2% Fibo

The targets for the 3rd wave in the 5th:
1.2858 – 261.8% Fibo

General recommendations:
On Tuesday the correction continues amid the decline over the last two days of 2011.
The fact that the price is still within the declining range points at the continuation of the downfalling trends’ part. The current situation is that the inner wave marking of the assumed third wave in the fifth is ambiguous and hardly possible. That is why uncertainty is high regarding not only the direction of the trend but the wave marking of this movement.
The MACD divergence indicates a possible rebound from the current levels in the direction of new lows and in particular to 1.2858, which corresponds to 261.8% Fibo/ on the other hand, the exit from a narrower declining range can complicate the current correction in the direction to 1.3080, that corresponds to 127.2% Fibo.

http://instaforex.com/forex_analysis/47273/?x=OUE

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GBP/JPY Elliott wave count and Fibonacci levels for January 2, 2012

Wave analysis

Roman Molodiashin

GBP/JPY is developing impulse wave C (colored light green in the chart) from 122.71. This wave is confirmed since the price broke below 119.31 (top of wave A). Within this wave we have four subwaves (colored red in the chart), and potential subwave 4 is developing from 119.21. The targets of the upmove are Fibonacci retracements of 122.71-119.21, 122.21-119.21.

Resistances:

- 120.36 = .382 retracement
- 120.55 = .382 ret
- 120.71 = .50 ret
- 120.96 = .50 ret
- 121.06 = .618 ret

If the price breaks below 119.21, subwave 5 will continue. The targets of the downmove will be Fibonacci expansions off 127.25-119.31-122.71, 122.71-121.54-122.21, 122.21-119.21-119.99.

Supports:

- 118.14 = contracted objective point (COP)
- 117.80 = COP
- 116.99 = objective point (OP)

Overbought/Oversold

Assuming that the major wave is now moving down it's preferable to try short positions when the Detrended Oscillator gets above the zero level (10-15 pips above the current prices) or into the overbought area (30-40 pips above the current prices), watch for entries short at the indicated supports.

http://instaforex.com/forex_analysis/47155/?x=OUE

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