Gold short term analysis and trade recommendations May 31, 2011

On the short and medium term , Gold is trending up .
Early on the 4H timeframe it broke a downtrend line with 2 tops and was successfully tested
Recently it broke and closed above the newly formed resistance level 1532.30 Now working as support
Based on the previous analysis , There's a Long opportunity on the GOLD
Best level to buy at was near 1533.20 with target at the upper limit of the channel at 1569.70
SL should be below 1515.40 as its break will allow the price to go lower .
http://instaforex.com/forex_analysis/29697/?x=OUE  

EUR/USD Weekly For May 30th to the June 3rd / 2011

SHORT DESCRIPTION :
The EUR/USD is now trading in the Sideways situation between 1.4065 and 1.4441, this situation is confirmed by the flat slope of the 10 Weeks Simple Moving Avarage, and next week the pair will test the Resistance at the 1.4352. If it can break that level it will cause this pair to test the 1.4500 and if this level can be broken, it will be the sign of the Bullish situation, on the other hand if the pair cannot break the mark 1.4500 it will hold the Bullish situation for the EUR/USD and will make this pair enter  the Sideways situation again.
http://instaforex.com/forex_analysis/29623/?x=OUE 
 

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EUR / USD 123 Pattern and possible change of direction May 27, 2011

:: 4 H ::

EUR / USD shows possible change in short/mid term direction on the 4H timeframe
Pattern 1 2 3 with broken high ( 2 ) gives warning early to very possible change in short term direction
We had strong breakout of the bearish channel this morning which changes the bearish view for the day at least
For the long term view we need to see 1.4350 level breached next swing up in order to change our long term view as well to bullish
Divergence on the MACD indicates coming upside movement .
:: 1H ::

The EUR / USD is trending up recently on the 1H timeframe making higher highs and higher lows indicating this possible change in direction
Best levels to BUY from are :
- 23% Fibonacci and previous broken high now support at 1.4200
- 50% Fibonatcci , previous double top now support , short term uptrend  at 1.4120
Direction of the MACD to the upside enhances the up direction at least for the short term scale .
Targets for the BUY positions are 1.4272 as 1st target  then1.4330 as a 2nd target
SL should be put below 1.4010 as its break indicates breaching of of the newly formed uptrends .

http://instaforex.com/forex_analysis/29543/?x=OUE  

GBP/JPY Technical analysis and Long position oportunity May 26, 2011

The GBP / JPY currency pair showed an obvious hummer candlestick at testing the support level 125.47 which is a historical low
this candlestick indicates upside movemet confirmed further
the upside movement was contained at the resistance level 139.75 which stopped the upside swing of the pair leading to correction forming a flag pattern
The support level 131.20 which is 50% fibonatcci of the last swing up held the price above preventing further decline
The last daily candle closed outside the upper limit of the flag indicating continuation of the upside movement technically .
http://instaforex.com/forex_analysis/29381/?x=OUE 
 

EUR/USD wave analysis for May 25, 2011

In general, as expected, the EUR/USD currency pair started to move upwards slowly after it failed to break the 40 figure level. At the same time, given the correction scenario of the wave situation after May 16, current growth of the euro price is limited by the c wave (in the B). If so, the indicated upside movement might develop in the direction of the 1.4200 level.

http://instaforex.com/forex_analysis/29337/?x=OUE

Dollar Pares Gains - Kiwi Surges on Rate Expectations Daily Winners and Losers

The New Zealand dollar topped the performance charts against the greenback in overnight trade, advancing nearly 1% as a rally in commodities and stocks stoked demand for higher-yielding assets. The gains come on the heels of a steep sell-off yesterday that saw US equities plummet more than 1% across the board. The kiwi’s gains were triggered by a central bank report that showed executives had raised their inflation expectations, fueling speculation that the Reserve Bank of New Zealand will move on interest rates. The NZD/USD pair broke through interim resistance at the 0.7920 before leveling off just above the 0.80-handle. Interim support rests at the 0.7970 level, with subsequent floors eyed at 0.9720 and 0.7860. Topside targets are eyed at the 0.80-handle, backed by 0.8020 and 0.8060. With no data on the kiwi economic docket this week, price actions will be dictated by swings in risk appetite, with Monday’s loss’s keeping traders on edge.

Key Levels/Indicators

Level/Indicator	Level
50-Day SMA	0.7793
20-Day SMA	0.7937
10-Day SMA	0.7899
2011 High	0.8120

The Japanese yen continued to slide overnight, breaching the 82-figure early in per-market trade. With risk appetite creeping back into markets, the allure of the safe-haven continues to slowly lose its luster. With the Japanese economy falling back into recession, the yen may continue to see pressure in the coming days if market appetite persists. The USD/JPY pair continues to trade within the ascending channel that dates back to May 5th. Topside targets are eyed at 82.20 backed by 82.40, with interim support resting at the 23.6% Fibonacci extension taken from the March 16th and May 5th troughs at 81.70. Subsequent floors are seen at 81.50 followed by 81.30. Traders will be eyeing trade balance figures overnight with consensus estimates calling for steep declines in domestic exports. A weaker than anticipated print here could see further losses for the battered yen.

Key Levels/Indicators

Level/Indicator	Level
50-Day SMA	81.97
20-Day SMA	81.16
10-Day SMA	81.40
2011 High	85.51

Upcoming Events

Date	GMT	Importance	Release	Expected	Prior
5/24	23:50	MEDIUM	Adjusted Merchandise Trade Balance (Yen) (APR)	-695.9B	96.3B
5/24	23:50	MEDIUM	Merchandise Trade Balance Total (Yen) (APR)	-703.7B	196.5B
5/24	23:50	LOW	Merchandise Trade Exports (YoY) (APR)	-12.7	-2.2
5/24	23:50	LOW	Merchandise Trade Imports (YoY) (APR)	12.8	11.9

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