GOLD 30.12.2012 - technical analysis and recommendation

Gold hit the long term uptrend line at the major support 1532.50 level. Then it bounce up forming candle with long lower shadow. We should expect some further growing now.

GOLD weekly

At the daily chart we can see that the long lower shadow candle has been recently formed. Now the strong bullish candle is rising. The closest resistance is on the 1579 level.

GOLD daily

On the 4-hours time frame gold rate has just crossed over the downtrend line. Now we should wait for the confirmation by closing above 1579 (closest resistance level). Then the rate has the open way to rise to 1625.

GOLD H4

Trade recommendation: Buy after closing above 1579 Take profit levels: Target 1: 1625 Target 2: 1665

EURUSD 29.12.2012 - technical analysis and recommendation

EURUSD weekly 

EURUSD is moving in the downtrend channel. It hit the major support at 1.2870, which seems to be serious retracement level. Now we can expect it tp bounce up.

EURUSD daily

When we look at the daily chart we can see that the EURUSD is in the downtrend, now consolidating in the 1.2870 - 1.3085 zone. After hitting the major support at 1.2870 it has formed the long lower shadow candle with small body which suggest some direction change possibility. After crossing the downtrend line and closing above 1.3085 it should move up to 1.3375.

EURUSD H4

When we zoom in to 4-hours chart we can see more precisely the above description. Long lower shadows  which have appeared in few last candles and finally some bullish colored candles have formed. After closing above 1.2955 it is expected to grow up to 1.3025 where we should also meet the downtrend line resistance. Reaching this level should force some bounce back, so it would be good place to take profit and wait for another entry.

Trade recommendation: Buy after closing above 1.2955  Take profit levels: Target 1: 1.3025 Target 2: 1.3085

EURGBP 28.12.2011 - technical analysis and recommendation

EURGBP  weekly

EURGBP daily

EURGBP has reached major support by getting close to 0.8285 level. In addition it has touched the lower boundary of the downtrend channel forming long lower candle shadow. It suggest breaking up.

At the daily chart we can see consolidation in 0.8300-0.8375 zone. Breaking over 0.8375 will open the way to 0.8425 level.

EURGBP H4

At the 4-hours chart we can see that the new uptrend channel has formed within higher time frame downtrend channel. After breaking over 0.8375 the primary target is at the 0.8410 level. Then we should expect some move down which should be supported on 0.8375. Later we can expect some further grow to the 0.8450 resistance level (and the upper line of the downtrend channel).
Alternatively - if the price falls below 0.8330 we can expect some further falling to the 0.8285 level.

Trade recommendation: Buy after closing above 0.8375   Take profit levels: Target 1: 0.8410 Target 2: 0.8450