| Author's today's articles: Mohamed Nour Elden Beshir - 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 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 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. GOLD Wave Analysis for October 25, 2012 2012-10-25 .png)
GOLD Elliott Wave
Gold was trading in a downward move yesterday, corrective (C) wave (coloured green) of the bigger wave (4) (coloured orange) was developing.
During the European session we could observe sideways move between 1,711.85 and 1,705 level. Therefore, during the early New York session this commodity did not manage to hold this levels and price pushed lower reaching a new low at 1,698.74 level and we can consider this move as the end of the 5 wave (coloured blue) of the bigger wave (C) (coloured green). Gold is trading around 1,711 level at the moment and we are expecting to see price higher in the next few days.
In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1,808.42 (100% of wave 1). To reduce the risk, we can use invalidation at 1,698.74 level as stop loss.
Support and Resistance
(S3) 1,679.0 (S2) 1,688.9 (S1) 1,695.5 (PP) 1,705.4 (R1) 1,712.0 (R2) 1,721.9 (R3) 1,728.5 Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1,715.00 with stop loss 1,698.74 and take profit at 1,808.42 are recommended. AUD/USD Wave Analysis for October 25, 2012 2012-10-25 .png)
AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in an upward move, corrective wave C (coloured blue) of the bigger wave (2) (coloured green) was developing.
Yesterday during the Asian and European sessions we could observe strong ascending movement from 1.0258 towards the 1.326 level. Therefore, during the New York session the
AUD/USD pair continued trading in a bullish mood and price reached a new daily high at 1.0365 level. Today this currency pair finished developing of the corrective C wave and we are expecting to see price lower when development of the impulsive (3) wave (starts).
In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the wave 1, we can define the potential targets with measuring wave 1, with take profit at 1.0209 (100% of wave 1). To reduce the risk, we can use resistance at 1.0410 level as stop loss.
Support and Resistance
(S3) 1.0220 (S2) 1.0261 (S1) 1.0286 (PP) 1.0327 (R1) 1.0368 (R2) 1.0393 (R3) 1.0434 Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0355 with stop loss 1.0410 and take profit at 1.0209 are recommended. EUR/USD Intraday Technical Analysis 2012-10-25 
The spot rate approaches the upper limit of its medium-term bearish channel at 1.3010 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.
Technical indicators provide buy signals, but 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.
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 1.3010 with the 1st objective at 1.2950 and then at 1.2930. A breakthrough of 1.3030 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 1.3010 with the 1st objective at 1.3070 and then at 1.3090. A breakthrough of 1.2990 will invalidate this scenario. GBP/USD Intraday Technical Analysis 2012-10-25 
The spot rate approaches the intermediate resistance of its medium-term bearish channel at 1.6080. 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 1.6140.
Technical indicators provide buy 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.
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 1.6080 with the 1st objective at 1.6020 and then at 1.6000. A breakthrough of 1.6100 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 1.6080 with the 1st objective at 1.6140 and then at 1.6160. A breakthrough of 1.6060 will invalidate this scenario. GOLD Intraday Technical Analysis 2012-10-25 .png)
Gold is currently testing the intermediate resistance of its medium-term bearish channel at 1,716. 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 1,729.
Technical indicators provide buy signals, but 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 decline these days. Stabilization is expected in the short term.
Gold 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 1,716 with the 1st objective at 1,706 and then at 1,703. A breakthrough of 1,719 will invalidate this scenario. The second scenario is a break of its resistance where we recommend a “buy stop” which means to buy gold as soon as it is broken through its resistance of 1,716 with the 1st objective at 1,726 and then at 1,729. A breakthrough of 1,713 will invalidate this scenario. EUR/JPY Intraday Technical Analysis 2012-10-25 
The spot rate approaches the intermediate resistance of its medium-term bullish channel at 104.60. 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 105.60.
Technical indicators do not provide clear 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.
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 104.60 with the 1st objective at 104.00 and then at 103.80. A breakthrough of 104.80 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 104.60 with the 1st objective at 104.80 and then at 105.00. A breakthrough of 104.40 will invalidate this scenario. USD/CAD Intraday Technical Analysis and Trading Recommendations for October 25, 2012 2012-10-25 
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. It is targeting 0.9980 as long as the pair is consolidating above 0.9880.
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 is probably taking place towards 0.9820 - 0.9850 before further continuation of the bullish movement.
GBP/USD Intraday Technical Analysis and Trading Recommendations for October 25, 2012 2012-10-25  
GBP/USD expressed daily closure below the lower limit of the depicted bullish channel which extended the bearish movement towards 1.5970 which has been providing considerable support for the pair.
The lower limit of the broken DAILY channel was retested around the price zone of 1.6160 - 1.6180 last week 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) is being re-tested today. However, SELLING is risky this time due to the strong bullish rejection manifested this week. Support: 1.6060, 1.6020, 1.5960, and 1.5920.
Resistance: 1.6125, 1.6175, and 1.6260. EUR/USD Intraday Technical Analysis and Trading Recommendations for October 25, 2012 2012-10-25 
The EUR/USD pair attempted to push lower yesterday, but found a good support at the lower limit of the bullish channel depicted on the DAILY chart above and traded higher earlier today hitting 1.3012.
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. Daily Trading Forecasts (October 25, 2012) 2012-10-25 EURUSD: EURUSD is currently trying to rally, though not in a very significant mode. The RSI period 14 is now pointing towards the level 50. If this rally continues for the rest of today and the RSI indicator eventually crosses the level 50 on the upside, a ‘buy’ signal would be generated eventually. But I prefer to stay out of the market right now. 
USDCHF: The scenario on EURUSD is almost similar to the one on the USDCHF, albeit in an opposite manner. One would need to wait for a clearer signal before opening a long order. Here, I would prefer the RSI 14 to cross the level 50 on the downside before looking for an entry point. 
GBPUSD: The cable is currently showing a bullish pressure, coupled with strong northward determination. There has been a significant rally today, and as a result of it, looking for a long entry would be sensible in the long run. However, the Williams’ % Range is in an overbought region; it may cause a temporary pullback in the market. 
USDJPY: The JPY pairs in most cases have been caught in a steady and protracted bullish bias for many days. The USDJPY pair is no different. The great supply territory at 80.00 was breached on the upside as it was predicted. The next target would be 80.50, if scenario continues. Please bear it in mind that the RSI 14 has constantly stayed in the overbought region. 
EURJPY: The EURJPY pair, bullish EURJPY! This cross has rejected the bearish correction it had experienced recently. The correction took the price to the demand zone at 103.00, and since then, the price has rallied by around 130 pips. The bullish trend on the cross is still valid. 
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