GOLD Intraday Technical Analysis 2012-06-27

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Gold is currently testing the lower limit of its medium term bearish channel at 1,562 and seems to initiate a decline. However, a break through these levels will release good potential and initiate a violent bearish trend.
Technical indicators provide sell-signals but approching to oversell zone supporting the assumption of a rebound. 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 at the level of 1,562 with the 1st objective at 1,575 and then at 1,580. A break through 1,559 will alter this scenario

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GOLD Intraday Technical Analysis 2012-06-26

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Gold is currently testing the intermediate resistance of its medium term bullish channel at 1,592 and seems to initiate a decline. However, a break through these levels will release good potential and reach the upper limit of this one to 1,645.
Technical indicators provide sell-signals and untill 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 1,592 with the 1st objective at 1,605 and then at 1,608. A break through 1,589 will invalidate this scenario.

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GBP/USD Weekly Technical Levels for June 25 - 29, 2012

Weekly Technical Levels:

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Tip (s):

R3 and S3 are considered as clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.
Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 line.
Within a strong trend the price is expected to be lower than the pivot point line and continue the movement.
In case of the breaking news release that may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.

Observation (s):

• If the trend is of upside character, then the strength of the currency will be defined as following: GBP is an uptrend and USD is a downtrend.
• Most of the traders use the Fibonacci retracement to determine accurately the psychological support and resistance levels.

EUR/JPY Intraday Technical Analysis 2012-06-22

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The spot rate is currently testing the intermediate resistance of its medium term bullish channel at 101.20 and seems to initiate a decline. However, a break through these levels will release good potential and reach the upper limit of this one to 101.80.
Technical indicators provide buy-signals but until the resistance is not broken the assumption of a decline is most likely. 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 as soon as the spot rate has broken through its resistance of 101.20 with the 1st objective at 101.80 and then at 102.00. A break through 101.00 will invalidate this scenario.

GBP/USD: Sideways Trend for June 21 - 22, 2012

Weekly Pivot Point: 1.5632.

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Sideways Trend: Prices are moving within a narrow range between 1.5600 and 1.5850.

GBP/USD:

• Resistance: 1.5906. (Sell below this level).
• Support: 1.5600. (Buy above this level).
  

Trading Recommendations:

According to the previous events, the price is still between the levels 1.5600 and 1.5850.

• The descending movement will probably take place lower than the 1.5906 level with the first targets at levels 1.5783 and 1.565.
• BUY deals are recommended higher than the 1.5600 level with targets at levels 1.5710 and 1.5850.

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. In the light of the previous events, the price is still between the levels 1.5600 and 1.5850, 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 1.5600 level with its first target at the level of 1.5710. From this point, the pair is likely to begin an ascending movement to the point 1.5850 and further to the level 1.59. However, if the pair fails to pass through the level of 1.5906, the market will indicate a bearish opportunity below the strong resistance level 1.5906. In this regard, SELL deals are recommended lower than the 1.5906 level with the first target at 1.5780. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.5670 then 1.5632 (The weekly pivot point).

GOLD Intraday Technical Analysis 2012-06-14

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Gold is at the moment testing the upper limit of its medium term bearish channel at 1,629 and seems to initiate a decline. However, a break through these levels will release good potential and initiate a violent bullish trend.
Technical indicators provide buy-signals but until the resistance is not hit the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in a short term.
According to previous events the market will provide a bullish opportunity as soon as gold has broken through its resistance of 1,629 with the 1st objective at 1,640 and then at 1,645. A break through 1,626 will invalidate this scenario.

EUR/JPY Intraday Technical Analysis 2012-06-13

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The spot rate is currently testing the intermediate support of its medium term bearish channel at 98.90 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 97.50.

Technical indicators do not provide clears signals but until the resistance is not broken the assumption of a decline is most likely. 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 98.90 with the 1st objective at 99.50 and then at 99.70. A break through 98.70 will alter this scenario.