| Author's today's articles: Arief Makmur - Official analytic of InstaForex Companies Group  Born May, 15th/1970 at Jakarta; Graduate from Trisakti University in 1998 at Major Corporate & Bussiness Law. Starting in Finance World in 1998 at Jakarta Stock Exchange & Familliar with Forex Market since December 2003. 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. 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. Mohamed Samy - Official analytic of InstaForex Companies Group  Born November 18, 1966, in Egypt. In 1990 graduated from the Faculty Of Engineering, Alexandria University. In 2000 started to follow financial markets. Took a higher diploma in investing and finance in 2008 and also CMT in 2009. Started at the Financial World as an analyst, then worked as a technical analysis consultant at Misr Financial Investments Co. Since 2005 has been working on the Stock Exchange. Has been familiar with Forex since December 2005. Being a member of the Egyptian Society of Technical Analysis, attends seminars and conferences dedicated to financial markets. Is a member of the American Market Technicians Association. Interests: football, reading, volleyball, swimming, movies EUR/USD Intraday Technical Levels for October 29, 2012 2012-10-29 
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.2984.
Strong Resistance: 1.2977.
Original Resistance: 1.2965.
Inner Sell Area: 1.2952.
Target Inner Area: 1.2922.
Inner Buy Area: 1.2891.
Original Support: 1.2879.
Strong Support: 1.2866.
Breakout SELL Level: 1.2859. DESCRIPTION: Today EUR/USD has support and resistance at 1.2879 and 1.2965. The rate is accompanied by strong support at 1.2866 and by 1.2977 as strong resistance. If EUR/USD breaks out and closes below 1.2859 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.2984 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.2891 and at 1.2952 – a SELL position. In this case both targets should be located at the level of 1.2922.
Best regards, Arief Makmur Official Analyst of InstaForex Companies Group InstaForex Companies Group http://instaforex.com E-mail: Arief.jakarta@indo.instaforex.com
USD/JPY Intraday Technical Levels for October 29, 2012 2012-10-29 
TODAY's TECHNICAL LEVELS: Resistance 3: 80.07.
Resistance 2: 79.92.
Resistance 1: 7976.
Support 1: 79.56.
Support 2: 79.40.
Support 3: 79.24. DESCRIPTION: Please, pay attention to the levels of support 3 (79.24) and resistance 3 (80.07). In general, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips. But if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today. Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
E-mail: Arief.jakarta@indo.instaforex.com Daily Trading Forecasts (October 29, 2012) 2012-10-29 EURUSD: EURUSD was bearish last week – something that is expected to continue this week. The support line at 1.2900 could be breached on the downside, as the price goes for another level at 1.2850. I prefer to go short right now. 
USDCHF: Since last week, the USDCHF pair has been trying to regain some of its recent losses. This could continue in this week. The resistance level at 0.9350 was breached and is now acting as a support level. It would not be difficult for the price to reach the level at 0.9400, eventually. 
GBPUSD: The scenario on the cable is currently intriguing – just as I was about recommending trading this instrument with caution. GBPUSD is normally expected to be positively correlated with EURUSD, and therefore, the weakness in the latter would potentially portend the bullish break on the former as a false one. This is exactly what is happening right now. 
USDJPY: By Friday this pair had given up most of the gain it had last week. If this scenario continues for a few more days, it could mean the end of the current bullish propensity. The RSI 14 period is currently under the level 50; it would be good to wait for a clearer signal. 
EURJPY: The EURJPY cross is now trading below the supply zone at 103.00, having been essentially bearish in the last five trading days. If the present scenario continues, a bearish confirmation would be in place. The price might reach a supply level at 102.00 this week. 
USD/JPY: Under Pressure 2012-10-29 
Overview:
USD/JPY is trading in lower range after retreating sharply from four-month high of 80.38 on Friday. The rate is undermined by trimming of short-JPY exposures ahead of tomorrow's Bank of Japan policy meeting - market participants are wary of disappointment on expectations for BOJ to aggressively expand the size of its Y80 trillion asset-purchase program. USD/JPY is also weighed by lower U.S. Treasury yields, Japan exporter sales, and concerns about U.S. "fiscal cliff" in early 2013 that could throw the U.S. economy back into recession. But USD/JPY losses tempered by demand from Japan importers, buying of yen crosses amid diminished risk aversion (VIX fear gauge eased 1.71 to 17.81) as U.S. economy grew stronger-than-expected 2% in third quarter (vs. +1.8% forecast), although Wall Street closed narrowly mixed on Friday (DJIA up 0.03%; S&P down 0.07%), as sentiment dented after final October reading of University of Michigan consumer sentiment index came in at 82.6, falling from initial reading of 83.1, versus expectations for it to remain unchanged, and worries over the euro zone as Spain's 3Q unemployment rate rose above 25% for first time on record.
Preference:
USDJPY is trading in lower ranges, short position is recommended. Sell below 79.9 with targets 79.4 and 79.15 in extension.
Support Levels:
S1 - 79.4
S2 - 79.14 (Oct. 19 low)
S3 - 78.91 (Oct. 18 low)
Alternative scenario:
In case market moves opposite. Buy above 79.9 and look for further upside with 80.1 and 80.35 as targets.
Resistance Levels:
R1 - 80.1
R2 - 80.38 (Friday's high)
R3 - 80.63 (June 25 high)
Technical Comment:
As long as 79.9 is resistance, look for choppy price action with a bearish bias. USD/JPY daily chart is mixed as MACD is bullish but stochastics have turned bearish at overbought; bearish outside-day-range pattern was completed on Friday. USD/CHF: Bullish Bias Above 0.933 2012-10-29 
Overview:
USD/CHF is consolidating in higher range after hitting two-week high of 0.9386 on Friday. The rate is undermined by broadly weaker demand for safe-haven USD as risk tolerance improves.
Preference:
Buy above 0.933 with targets 0.9385 and 0.94 in extension.
Resistance Levels:
R1 - 0.9386 (Friday's high)
R2 - 0.94
R3 - 0.9431-0.9438 (Oct. 10 high-Oct. 1 high)
Alternative scenario:
Sell below 0.933 and look for further downside with 0.931 and 0.9285 as targets.
Support Levels:
S1 - 0.931
S2 - 0.9286 (Thursday's low)
S3 - 0.9255 (Tuesday's low)
Technical Comment:
A support base at 0.933 has formed and has allowed for a temporary stabilization. Daily chart is positive-biased as MACD & stochastics are bullish; five-day moving average is above 15-day MA and rising. EUR/USD Intraday Technical Analysis 2012-10-29 
The spot rate approaches the intermediate resistance of its medium-term bearish channel at 1.2950. It seems that a decline was initiated. However, a break of these levels will free a large potential and reach the upper limit of its channel at 1.3010.
Technical indicators provide buy signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility.
The spot rate is currently testing the intermediate resistance 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 1.2950 with the 1st objective at 1.2890 and then at 1.2870. A breakthrough of 1.2970 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 1.2950 with the 1st objective at 1.3010 and then at 1.3030. A breakthrough of 1.2930 will invalidate this scenario. GBP/USD Intraday Technical Analysis 2012-10-29 
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 advise 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 2012-10-29 .png)
Gold approaches the upper limit of its medium-term bearish channel at 1,719 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 have greatly tightened in the recent days showing a decline in volatility and the imminence of a violent movement.
Gold 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 1,719 with the 1st objective at 1,708 and then at 1,705. A breakthrough of 1,722 will invalidate this scenario. The second scenario is a break of its resistance where we advises a “buy stop” that’s means to buy gold as soon as it is broken through its resistance of 1,719 with the 1st objective at 1,729 and then at 1,733. A breakthrough of 1,716 will invalidate this scenario. EUR/JPY Intraday Technical Analysis 2012-10-29 
The spot rate is currently testing the lower limit of its medium-term bearish channel at 102.70 suggesting a rebound. However, a break of these levels will free a large potential and initiate a more violent bearish channel.
Technical indicators provide buy signals, and until the support is not broken the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in the short term.
The spot rate is currently testing the lower limit 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 102.70 with the 1st objective at 103.30 and then at 103.50. A breakthrough of 102.50 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 102.70 with the 1st objective at 102.10 and then at 101.90. A breakthrough of 102.90 will invalidate this scenario. EUR/USD Testing Key Trendline Support for October 29, 2012 2012-10-29  
The EUR/USD market has been bearish for the last couple of weeks since finding resistance near 1.3140.
The EUR/USD pair attempted to push lower last week, but found a good support at the lower limit of the bullish channel depicted on the DAILY chart above and failed to close outside/below the lower limit giving a bullish hammer daily candlestick.
If the market consolidates above 1.2875, it respects the trendline. However, a clear break below 1.2850 is likely a confirmed break of the trendline.
The bias is bullish in the short term, especially if price is able to make a clear break above 78.6% Fibonacci Level around price level of 1.3015 allowing the pair to reach 1.3070 initially.
The H&S bearish scenario (4H chart) also remains intact; but an obvious break back below 1.2950 is needed to continue the bearish pressure retesting the lower limit of the bullish channel and 1.2900 Price Zone.
USD/CAD Intraday Technical Analysis and Trading Recommendations for October 29, 2012 2012-10-29  
The USD/CAD bullish movement managed to break above the upper limit of the depicted long-term channel (0.9725). It was considered to be a bullish signal in the long term with a confirmed bullish 123 reversal pattern appearing on the DAILY chart targeting 0.9980 which was hit earlier today.
Last week, considerable bullish price action was expressed towards 0.9770 (the newly established ascending bottom) which is considered to be a quite strong bullish manifestation.
Price zone 0.9820 - 0.9850 is now considered to be an Intraday Support zone. In order to resume the targets for the bullish patterns targeting around 0.9980 there should remain consolidating above this zone.
Price area 0.9960-0.9975 corresponding to the upper limit of the newly established 4H bullish channel is considered to be a strong Intraday Resistance zone where a bearish retracement would probably take place towards 0.9820 - 0.9850 before further continuation of the bullish movements.
GBP/USD Intraday Technical Analysis and Trading Recommendations for October 29, 2012 2012-10-29  
GBP/USD expressed daily closure below the lower limit of the depicted bullish channel which extended the bearish movement towards 1.5970; a considerable support for the pair has been provided.
Last week the lower limit of the broken DAILY channel was retested around the price zone of 1.6160 - 1.6180 triggering a suggested SELL entry which hit its full target at 1.5930.
As it was expected, strong bullish rejection was expressed on testing 50% Fibonacci around 1.5930 which provided a valid low risk BUY entry.
The upper limit of the depicted 4H channel around 1.6140 (an Intraday Resistance Level) was re-tested last week showing a significant bearish price action so far. However, SELLING is risky this time due to the strong bullish rejection manifested this week. That is why a small lot SELL entry is suggested off 1.6140 with tight SL placed above 1.6180. Support: 1.6060, 1.6020, 1.5960, and 1.5920.
Resistance: 1.6125, 1.6175, and 1.6260.
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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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