Daily analysis of EUR/JPY for October 28, 2016

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Overview

The EUR/JPY pair rallied to the upside yesterday, surpassing the resistance at 114.70 Thus, the odds are for getting rid of the dominating negativity by reaching 115.00. We need a close in the four-hour time frame above the mentioned resistance to expect the rally towards some positive targets from 116.30 to reach 119.20 in the upcoming period. Stochastic supports the bullish rally by its stability within the overbought level to provide the required bullish momentum. Please be aware that surpassing the moving average 55 at 115.50 will reinforce the dominating positivity in the upcoming trading, which opens the way towards the suggested targets. The expected trading range for today is between 114.70 and 116.30

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Daily analysis of GBP/JPY for October 28, 2016

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Overview

There is no news for the GBP/JPY price as the pair is poised to follow the bear bias. The pair reached the initial resistance in the expected trading range for today between 129.60 and 126.10 since early trading. You should note that surpassing this resistance will open the way towards testing 129.60 level before achieving any expected downward target. The main scenario will remain bearish if the main resistance is held at 129.60. This supports our overview for the price attempt to reach the initial target at 124.60 and then continue trading towards 120.90. The expected trading range is between 129.60 and 126.10

The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of Gold for October 28, 2016

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Overview

Gold price is hovering around the EMA50 and the intraday bullish trend line that appears on the chart. Therefore, there is no change in the overall bullish scenario that depends on the stability above 1249.94 level, while its main targets begin at 1297.74. We remind you that breaching 1249.94 level will extend the bullish wave to reach 1375.00 on the near-term basis. At the same time, while breaking 1249.94 level represents a negative factor that will push the price to visit 1211.31 areas before any new attempt to rise. The expected trading range for today is between 1255.00 support and 1297.74 resistance.

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Daily analysis of silver for October 28, 2017

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Overview

Silver price shows more fluctuation around the EMA50, and we are still waiting to breach 17.80 level to ease the mission of resuming the main bullish trend. It stopped recently for some bearish correction which is depicted on the chart above. Therefore, the bullish trend scenario will remain valid for the upcoming period unless the 17.43 level is broken. Please note that our first main target is located at 18.30, while breaking 17.43 level represents negative factor that will push the price to visit 16.56 areas before any new attempt to rise. The expected trading range for today is between 17.43 support and 17.95 resistance.

The material has been provided by InstaForex Company - www.instaforex.com