GOLD Intraday Technical Analysis 2012-07-31

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Gold is currently testing the intermediate resistance of its medium term bullish channel at 1 633 and seems to initiate a decline. However, a breakthrough these levels will release good potential and reach the upper limit of this one to 1 658.
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 as soon as the gold has broken through its resistance of 1 633 with the 1st objective at 1 645 and then at 1 650. A breakthrough 1 630 will invalidate this scenario.

GBP/USD Intraday Technical Analysis 2012-07-30

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The spot rate is currently testing the upper limit of its medium term trading range at 1.5770 and seems to initiate a decline. However, a break through these levels will release a good potential and initiate a violent bullish trend.
Technical indicators do not provide clears signals but approach an overbuy zone supporting the assumption of a decline. 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 the spot rate has broken through its resistance of 1.5770 with the 1st objective at 1.5830 and then at 1.5850. A breakthrough 1.5750 will invalidate this scenario.

EUR/USD Intraday Technical Levels for Jully 27, 2012

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Today’s Technical Levels:
Breakout BUY Level: 1.2334.
Strong Resistance: 1.2327.
Original Resistance: 1.2316.
Inner Sell Area: 1.2304.
Target Inner Area: 1.2276.
Inner Buy Area: 1.2247.
Original Support: 1.2236.
Strong Support: 1.2224.
Breakout SELL Level: 1.2217.
Description:
Today EUR/USD has support and resistance at 1.2236 and 1.2316 and is accompanied by strong support at 1.2224 and by 1.2327 as strong resistance.
If EUR/USD breaks out and closes below a 1.2217 level today, this will indicate a considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2334 level, this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2247, and SELL position at 1.2304; in this case both targets should be located at the level of 1.2276.

Gold Continues To Remain Sideways Choppy Before Breakdown.. 2012-07-20

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Technical Outlook and Chart Setups:
As it is depicted above, the yellow metal remains locked in a decreasing resistance/ increasing support type cone structure. If we study the wave counts after the highs registered at 1640.00 levels, we are in the 5th wave now which should break down to lower levels. Until 1620/25 levels are not breached, expect gold to breakdown. We recommend to go short on any intraday rallies towards 1580/90 levels.
Trading Recommendations:
Remain short, stop at 1620/25, and target fresh lows.

Gold Bais Turns Increasingly Towards A Bearish Breakdown 2012-07-19

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Technical Outlook and Chart Setup:
Yesterday we discussed that the yellow metal is vulnerable towards a bearish breakdown till prices are below 1600.00 level. Today we re-confirm the above depicted structure. Immediate resistance is now at 1600.00 level, it is expected that prices should not exceed this for now. Expect a bearish breakdown to materialize soon, which would bring in a paradigm shift in the trend. We shall turn bullish only on a clear break of 1620.00 level on the higher side.
Trading Recommendations:
Short at current market price (1673-75), Stop 1620, target open.

Gold Vulnerable Below 1600.00

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Technical Outlook and Chart Setups:
Let us focus specifically on the recent consolidating structure, as shown above. It is basically a cone structure within the down swing from 1780 levels at least. Such structures have slight tendencies to break towards the swing or trend (which is down in this case). Till the time we are within the consolidation, our strategy should be to buy the support (1540/50) and sell resistance (1590/1600). Aggressive trading should be performed only on a break on either side.
Trading Recommendations:
For now, buy the support region around 1550.00 and sell the resistance region around 1590.00. Later on, trade will be in the direction of break.

EUR/USD Technical Levels and Trading Recommendations for July 17, 2012

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Overview

Proceeding from today's H4 chart, the pair is still taking the upward movement after its rebound from the Support level 1.2170 and currently is approaching to the Resistance level 1.2330. If the pair is able to break the Resistance level and close 4H above, we will receive a strong indicator for more bullish move which enables the Resistance level 1.2405. Then we should wait for breaking this Resistance level to continue the bullish signals. In case the pair manages to break this Resistance level 1.2405, we will get more bullish signals till reaching the Resistance level 1.2460.
On the other side, if the pair fails to break the Support level 1.2330 and bounces from it, this will provide a good opportunity for the bearish signals till reaching the Support level 1.2225. Then we should wait for breaking the Support level to continue the bearish signals. Given that the pair manages to break this Support level and closes 4H below, a bullish strength will provide new sell signals and enable the Support level of 1.2170 as a level target. Based on the given H4 chart, the technical indicators provide more bullish signals, but as long as the Resistance level of 1.2330 is unbroken, the downward move is still expected invalidating the bullish outlook. Therefore, we should wait for more confirmations before making the decision.
Resistance and Support Levels
R3(1.2460)
R2(1.2405)
R1(1.2330)
S1(1.2225)
S2(1.2170)
S3(1.2140)

Trading Recommendations
According to previous analysis, we recommend buying after breaking the Resistance level 1.2330 and closing 4H above with TP 1.2400; SL closing 4 hours below the Resistance level will be appropriate.