| Author's today's articles: Harsh Japee - Official analytic of InstaForex Companies Group  Official analyst of InstaForex Companies Group. Born on 4th February 1977. Studied Bachelor of Computer Science and Engineering, Dgyneshwar Vidhyapeeth, Pune, India. Work Experience:Worked as a Network Specialist and was involved in many Wide Area Network implementation projects for Corporates and Stock Exchanges in India. Got involved into Forex Markets, since early 2006. Developed Trading Sills and became an FX Technical Trainer since March 2008. Currently visiting premier B-Schools as a Technical Trainer and also serving at Ahmedabad Management Association. With Divine Blessings of Guruji have personally trained around 750+ participants in Gujarat since March 2008. Also acting as a Currency Hedging Advisor to a few Export-Import Companies in Ahmedabad, Gujarat. Authored "FX Technical Traders Handbook" published by Ahmedabad Management Association. Interests: Light Music, Meditation, Serving Less Priviledged. "When One Understands "Who am I", All Problems are Solved." By Our Divine Guruji, Dhyanyogi Shri Madhusudasji Maharaj Ahsan Aslam - Official analytic of InstaForex Companies Group  Born in 1988, obtained his professional degree of accounting (chartered Accountant). In 2007 to enhance his exposure and to excel in Accounting and auditing field he has obtained professional certification of CIA (certified Internal Auditor) from Institute of Internal Auditors USA. Acquired his First Experience as a Analyst of stock exchange in investment company. In 2007 Started Trading Forex online and managed some big accounts. He wrote many articles about forex trading in business magazines and analysis. In 2009 Completed his first book that covered topics related to technical analysis. In 2010 founded his own company providing its clients with complete overview and ease of trading through Forex technical research and analysis. Albert Fitoussi - Official analytic of InstaForex Companies Group  Born in December, 1977. I made my economic studies in the sorbonne (Paris) I integrated broking firms such as pinatton, ODB or Dexia securities making recommendations of technical analysis for the institutional on shares. In 2006 creations of Fx Office desk of analysis forex who supplies with the analysis to the biggest institutions of forex world. Azeez Mustapha - Official analytic of InstaForex Companies Group  Born on June 29, 1978 Azeez started on the currency and stock market in 2001; making rapid progress and has written many world-class and cutting-edge articles on trading strategies, technical analyses, market psychology and correct trading mindset, risk and money management, etc, Has wide educational and professional experience in forex trading, coaching and funds management. Worked for leading on-line projects as Senior Analyst and Forex Signals Strategist. Interests: Receptive to new ideas, sharing his knowledge with others; reading, good music and exercise. Andrey Syrbu - Official analytic of InstaForex Companies Group  Born 5 April 1977. Graduated from the Technical University of Moldova with Information Technologies specialty. Andrey has been trading on Forex since 2005. He has also been studying various trading strategies, tactics, and theories including the Elliott wave system for many years. Nowadays Andrey is interested in analyzing forex options. Option data is provided by the Chicago Mercantile Exchange. Besides trading, Andrey is engaged in developing and improving his trading system, writing analytical reviews and market forecasts. Interests: web programming, web development and promotion. Your success depends on your own decisions. John Rockefeller Never invest in a business you cannot understand. Warren Buffet Gerardo Porras Palomino - Official analytic of InstaForex Companies Group  Born August 30, 1980, in Huancayo, Peru. Since 1999 studied Maintenance Mechanics, specializing in fluids engineering (SENATI). In 2005 entered the foreign exchange market and started dealing with investments and studying Technical Analysis. Since 2007 devoted all his time to Forex world. Passed the advanced course of Forex trading (UdeForex) at University of Forex and thus aquired the following qualification: Operator and Analyst in the foreign exchange market. Carried out many other studies; among them there are the Waves of Elliot, the famous theory of Fibonacci etc. Presently seeks to operate his own money on the market, to carry out Technical and fundamental analysis and also to instruct beginners helping them to gain consistency in trading.Interest: reading, music, playing chess, operating on Forex. GbpChf Breaks First Resistance at 1.5050 Level 2012-10-26 
Technical Outlook and Chart Setups: Yesterday was a bullish day for the single currency pair, racing through measured resistance R1, as it is depicted above. Looking into the developments that were seen for the last 24 hours, we are coming to the following conclusions.
1. 1.4700 Support remains intact, and the single currency pair races past first measured resistance at 1.5050 level.
2. Hourly Chart suggests that this rally in 5 waves is impulse. Move probable move should be a retracement towards 1.4920/50 levels.
3. One can expect higher levels above R2 i.e. 1.5250 and above; one retracement is done.
4. Intermediary support now is around 1.4800/20 levels. Trading Recommendations: 1. Stop placed at 1.5100 is still intact, look for a pullback around 1.4950.
2. Exit short positions around 1.4950, switch to longs placing stop below 1.4800, and target 1.4250 plus. Good Luck! EurJpy Pullsback From Resistance, 104.75 Level Still Possible 2012-10-26 
Technical Outlook and Chart Setups: All right, the single currency respects resistance at 104.20/30 levels and pulls back. Fine till now, but it does not still confirm a bearish view, aggressively. It is still possible that the ongoing consolidation between 103.00 and 104.50 breaks out to fresh highs before a meaningful correction. It is humbly recommended, to cover short positions taken yesterday between 104.20/30, at least for now. Intermediary support stands at 103.00 at the moment and a break down would suggest a move lower towards 102.00 level, as it was discussed yesterday. But a bullish bounce at current levels around 103.20/30 levels would still take prices to 104.75 level before reversing. Exit short positions for now. Trading Recommendations: 1. Exit short positions if they were taken yesterday.
2. Aggressive trade strategy would be to go long, stop at 102.90, and target above 104.50/60. Reverse on a stop trigger.
3. Conservative trade strategy would be to go short on a break of 103.00 or on a rally towards 104.70 level. Good Luck! Gold Setting Up For A Rally. Buy On Dips 2012-10-26 
Technical Outlook and Chart Setups: Believe it or not, gold maybe setting up for an aggressive rally taking out resistances lined up higher. The bottom line is 1,690.00 and it should be held. Looking into the chart story for the last 24 hours; the yellow metal raced through 1,715.00 level during the present retracing. The lows are being held well till now and a positive/constructive reaction is expected. Immediate bullish target for gold is 1,730.00 level by today or Monday. It is further emphasized that 1,690/95 levels should be held for this count to be true. Bullish for now. Trading Recommendations: Hold long positions taken earlier. Stop at 1,680.00. Target open. Good Luck! Silver Prepares For A Rally. Buing Intraday Dips Recommended 2012-10-26  
Technical Outlook and Chart Setups: It seems that silver is retracing yesterday’s rally through 32.25 levels. It is expected that 31.50 level should be held as well as intermediary support; while 30.20 level is strong support for the metal. Next resistance comes in at 32.50 level as it was depicted above. Immediate bullish target for the metal is getting past the 32.50 level before taking on the lined up resistance levels till 35.00. A bullish reversal from here on (31.50 level should be held now), would take the metal comfortably past the 35.00 level towards 37.00 and higher. Long for now. Trading Recommendations: Stay long for now, stop at 31.00, and target open. Intraday dips are buying opportunities. Good Luck! USD/JPY: Under Pressure 2012-10-26 
Overview:
USD/JPY is consolidating after hitting four-month high of 80.38 this morning, as markets are waiting for 12:30 GMT U.S. 3Q advance estimate GDP. USD/JPY is underpinned by fears about impact of political stand-off over a JPY 38.3 trillion deficit-financing bill needed to keep the Japanese government funded. The Nikkei reported on Thursday that S&P had warned of serious implications for Japan's sovereign debt rating if there would be delay in the bill's passage. USD/JPY is also supported by weak JPY sentiment on expectations for aggressive monetary easing from Bank of Japan at its meeting on Tuesday and widening USD-JPY interest differential, demand from Japan importers. Yen-funded carry trades amid reduced risk aversion (VIX fear gauge eased 1.15% to 18.12; S&P rose 0.3% overnight) as U.K. reported unexpected growth of 1% in the third quarter, while U.S. jobless claims fell by 23,000 last week and U.S. durable goods orders jumped 9.9% in September (vs. +7.8% forecast). But risk sentiment dented by lower-than-expected 0.3% rise in U.S. September pending home sales (vs. +2.8% forecast); drop in Kansas City Fed manufacturing composite index to minus 4 this month from plus 2 in September; concerns over fiscally-strapped Spain and Greece; and Apple reporting below-forecast earnings after U.S. markets closed. USD/JPY gains also tempered by Japan exporter sales; concerns about U.S. "fiscal cliff" that could throw the U.S. economy back into recession; and positions adjustment before weekend.
Preference:
Sell below 80.2 with targets 79.69 and 79.4 in extension.
Support Levels:
S1 - 79.69 (Wednesday's low)
S2 - 79.4
S3 - 79.21-79.14 band (Monday's low-Oct. 19 low)
Alternative scenario:
Buy Above 80.2, look for further upside with 80.35 and 80.6 as targets.
Resistance Levels:
R1 - 80.35
R2 - 80.63 (June 25 high)
R3 - 81.00
Technical Comment:
The pair has broken below its support and remains under pressure. Stochastics stays elevated at overbought. USD/CHF: Bullish Bias Above 0.9315 2012-10-26 
Overview:
USD/CHF is trading in higher range. The rate is supported by contagion on CHF/USD from weak EUR/USD. But USD/CHF gains tempered by broadly weaker demand for safe-haven USD amid lower risk aversion and positions adjustment before weekend.
Preference:
Buy above 0.9315 with targets 0.9375 and 0.94 in extension.
Resistance Levels:
R1 - 0.9371 (Oct. 15 high)
R2 - 0.94
R3 - 0.9431 (Oct. 10 high)
Alternative scenario:
Sell below 0.9315, look for further downside with 0.9285 and 0.927 as targets.
Support Levels:
S1 - 0.9286 (Thursday's low)
S2 - 0.927
S3 - 0.9255 (Tuesday's low)
Technical Comment:
The pair remains on the upside and is challenging its resistance. Daily chart is positive-biased as MACD & stochastics are bullish; five-day moving average is staging bullish crossover against 15-day MA. EUR/USD Intraday Technical Analysis 2012-10-26 
The spot rate is currently testing the intermediate support of its medium-term bearish channel at 1.2920 suggesting a rebound. However, a break of these levels will reach the lower limit of its channel at 1.2880.
Technical indicators provide buy signals and until the support is not broken the assumption of a rebound is most likely. Bollinger bands are stabilized showing a more regular volatility.
The spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios. The first one is the hypothesis of a rebound where we recommend a buy on the level of 1.2920 with the 1st objective at 1.2980 and then at 1.3000. A breakthrough of 1.2900 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means to sell the spot rate as soon as it is broken through its support of 1.2920 with the 1st objective at 1.2860 and then at 1.2840. A breakthrough of 1.2940 will invalidate this scenario. GBP/USD Intraday Technical Analysis 2012-10-26 
The spot rate approaches the upper limit of its medium-term bearish channel at 1.6140 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.
Technical indicators provide sell signals and until the resistance is not broken 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 the short term.
The spot rate is currently testing the upper limit of its channel, we suggest 2 scenarios. The first one is the hypothesis of a decline where we recommend a sell on the level of 1.6140 with the 1st objective at 1.6080 and then at 1.6060. A breakthrough of 1.6160 will invalidate this scenario. The second scenario is a break of its resistance where we recommend a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 1.6140 with the 1st objective at 1.6200 and then at 1.6220. A breakthrough of 1.6120 will invalidate this scenario. GOLD Intraday Technical Analysis 2012-10-26 .png)
Gold is currently testing the intermediate support of its medium-term bearish channel at 1,700 suggesting a rebound. However, a break of these levels will reach the lower limit of its channel at 1,688.
Technical indicators provide buy signals and until the support is not broken the assumption of a rebound is most likely. Bollinger bands are stabilized showing a more regular volatility.
Gold is currently testing the intermediate support of its channel, we suggest 2 scenarios. The first one is the hypothesis of a rebound where we recommend a buy on the level of 1,700 with the 1st objective at 1,710 and then at 1,712. A breakthrough of 1,697 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means to sell the spot rate as soon as it is broken through its support of 1,700 with the 1st objective at 1,690 and then at 1,688. A breakthrough of 1,703 will invalidate this scenario. EUR/JPY Intraday Technical Analysis 2012-10-26 
The spot rate is currently testing the intermediate support of its medium-term bearish channel at 103.40 suggesting a rebound. However, a break of these levels will reach the lower limit of its channel at 102.70.
Technical indicators do not provide clear signals, but until the support is not broken the assumption of a rebound is most likely. Bollinger bands are stabilized showing a more regular volatility.
The spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios. The first one is the hypothesis of a rebound where we recommend a buy on the level of 103.40 with the 1st objective at 104.00 and then at 104.20. A breakthrough of 103.20 will invalidate this scenario. The second scenario is a break of its support where we recommend a “sell stop” which means to sell the spot rate as soon as it is broken through its support of 103.40 with the 1st objective at 102.80 and then at 102.60. A breakthrough of 103.60 will invalidate this scenario. Daily Trading Forecasts (October 26, 2012) 2012-10-26 EURUSD: This week has been bearish for the EURUSD pair; a short trade has been signified on the chart. What started as a rally at the beginning of this week has proven to be an opportunity to sell short in a content of a new downtrend. It looks like EURUSD is headed for the support level at 1.2900. 
USDCHF: This pair has moved up by close to 100 pips this week. A new bullish signal has been confirmed. It is done as it is assumed that the market would trend higher. The next target should be the resistance level at 0.9400. 
GBPUSD: The cable is very strong right now. Or in order to be precise, it could be said that the GBP is very strong. The market fell below the crucial accumulation zone of 1.6000 this week, but further bearish plunge was rejected below this zone. The bottom for this week is 1.5916, and the price has gone considerably up since then. It is by around 200 pips. 
USDJPY: The bullish USDJPY has gone up significantly without much retracement. Having moved up by almost 190 pips, the price is now experiencing some pullback. It is expected that this pullback could be halted around 79.50. It is understandable, since the RSI 14 period has been in an oversold territory for a long period of time. So this temporary pullback is not a surprise. 
EURJPY: Strictly speaking, this week has been indecisive on the EURJPY pair. There is no clear victory between buyers and sellers, though I still prefer a bullish bias. If one would need to go short, then one would need to wait for more confirmation. I would stay out of this market, until a new direction is confirmed or an upward continuation is established. 
NZD/USD Analysis for October 26, 2012 2012-10-26 Daily 
The New Zealand dollar has been trading between the levels of 76.4% - 0.8230 and 61.8% - 0.8082 of Fibonacci for three weeks. That, essentially, is a flat. Thus, candlestick patterns and reverses which are becoming more and more frequent could be explained. The bearish candlestick pattern Harami was built; the rate may resume its attempt to begin downward move towards at least the correctional level of 61.8% - 0.8082 of Fibonacci. The consolidation of rate above the level of 76.4% of Fibonacci may enable the growth towards the next level of correction 100.0% - 0.8469. It is still not known when flat finishes. Meanwhile, such a complex movement is still observed. It is serious, especially on the 4h chart. 4h 
The pair has made a turn near the correctional level of Fibonacci 23.6%; the candlestick pattern has not been formed. Thus, the pair started the next pattern of the downtrend and consolidated under the level of correction 38.2% - 0.8187. Consequently, it is probable that the drop will continue towards the correctional level 50.0% - 0.8134. Formation of bullish candlestick pattern or rebound from one of the correctional levels will enable the pair to make a turn in favor of New Zealand currency. The rate’s turn under the level of correction 50.0% is possible where it happened on the previous occasion. GBP/USD Fractal 1.6135. For October 26, 2012 (Daily Strategy) 2012-10-26 The GBP/USD pair operated with an uptrend yesterday; daily fractal is near 1.6135, hovering around this level. Higher up we noted the line of short-term downtrend, as you can see on the chart. If the pair breaks, we can see the beginning of a new upward wave towards 1.63.
At a fundamental level, the pound is strong against the dollar, because the British economy expanded more than expected in the third quarter.
On the other hand, the pair will remain affected by Spain and Greece's austerity measures.
Thus, it is recommended to exercise caution in the trading while you operate with the pair; always place stop loss.
Therefore, we suggest selling below the 1.6135 fractal. If the pair breaks the trend line, we can enter the bullish wave. You can decide whether to buy or sell. 
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks. Subscription's options management Theme's:
Fundamental analysis, Fractal analysis, Wave analysis, Technical analysis, Review, Forecast, Stock Markets
Author's :
Alexander Dneprovskiy, Aleksey Goncharov, Maxim Magdalinin, Stanislav Polyanskiy, Alexey Portnov, Natalia Grigorieva, Aleksey Almazov, Asri Mahmood, Denis Strelkov, Arief Makmur, Gleb Kabanov, Vadim Idrisov, Gerardo Porras Palomino, Albert Fitoussi, Sergey Dushechkin, Mohamed Samy, Vyacheslav Belousov, Oleg Khmelevskiy, Mourad El Keddani, Sergey Litvinenko, Muzammil Hussain Bhatti, Grigory Sokolov, Mohamed Nour Elden Beshir, Yuriy Zaycev, Andrey Syrbu, Harsh Japee, Dmitriy Demidenko, Azeez Mustapha, Nikita Kabanovs, Ahsan Aslam
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