Silver Holding 31.60/80 Levels. Short-term Charts Signalling A Possible Bullish Reversal Trend News

Technical Outlook and Chart Setups:

As depicted above, silver is still holding support region around 31.60/80 levels. Furthermore, strong support is around 30.20 levels. Short-term charts (15min-1hour) are beginning to show signs of reversals, but resistance which is now placed at the 32.50 region needs to be broken to confirm a bullish reversal. The long-term trend set-up should be taken into consideration. It is still recommended to stay long and add positions on dips. Our risk is around 31.00 region for now.

Trading Recommendations:

Stay long for now. Stop at 31.00. Target open (fresh highs).

Good Luck!

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Gold Holds Above 1,700.00. Short Time Charts Indicate A Reversal Trend News

Technical Outlook and Chart Setups:

Gold holds support region around the 1,700.00 range. It is also reinforced by the past resistance turned support area as seen on the charts (dotted price line). Furthermore, the 1,690.00 region is also strong support and our stops are just below that region at 1,680.00. Short-term charts (15min-1hour) are showing signs of a reversal; currently prices are around 1,711-1,712 region and a push through 1,725-30 levels today will confirm a bullish reversal. Immediate resistance is at 1,730.00 level now. Long for now.

Trading Recommendations:

Stay long for now. Stop at 1680.00. Target open (new highs).

Good Luck!

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GbpChf Resistance Placed Around 1.4910/50 Trend News

Technical Outlook and Chart Setups:

The single currency pair has been bouncing off between 1.4800/10 and 1.4880/90 levels lately. As it was depicted above, the trend line seems to be broken but price is holding 1.4800 level. The bears must be targeting the next support which is placed at 1.4700 level. Resistance should be met around 1.4920/50 levels. It is recommended to take maximum or all profits on earlier short positions taken and wait for a clear directional movement for now. A break past 1.4800 will target 1.4700 level.

Trading Recommendations:

Book profits on all short positions taken earlier. Flat for now.

Good Luck!

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EUR/CHF: Technical Analysis for October 24, 2012 Trend News

Forecast:

At 1.2 / 1.206 a strong level (Support) will be formed providing a clear signal for buy deals with the target seen at the 1.2270 level. Stop loss is to be placed below 1.1850.

Overview:

EUR/CHF: The market is still showing signs of strength following the break above 1.2000, now it could rebuy at the spot of 1.2060. Therefore, it will turn to a strong support. In such case, a stronger rise should be seen towards 1.2270 resistance for confirmation. Moreover, the trend is still above 50% Fibonacci retracement level, thus it will be a good sign to buy above 1.2 (rebuy at 1.2060), and sell below 1.1950.

Types of Analysis:

- Fundamental analysis: the Swissie is also quoted amid the promise to “buy unlimited euro” in order to support this market.

- Technical analysis: on a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels), then it indicates a bullish market.

- Sentiment analysis: psychological level is at 1.2000, in this case one should be patient to keep the trade till the end.

- Money management: always invest 3% - 7% of the capital (composite) per all trades, always risk (stop loss) 1% - 5% of the capital per all trades, and always trade high risk ratio - trade at least 1/2.

- Period: long-term.

- Stop loss must be set at 1.1950.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

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EUR/USD: Technical Analysis for October 24, 2012 Trend News

Weekly Pivot Point: 1.3017

Overview:

The EUR/USD pair has broken the resistance level and turned towards the support level near the two-month point of 1.2903. Therefore, the pair has already formed a strong support at 1.2803 / 1.2894. Moreover, having failed to close below 1.2900 yesterday, the pair started showing a bullish reaction at this level. It is necessary to mention that these levels coincide with strong levels for bulls on H4 chart; the pair has also formed a strong support at the level of 1.2803 / 1.2894. The pair will move upwards, it is convincing; the structure of the upside movement does not look corrective and is indicating a bullish opportunity above 1.2803. This can be a good sign for buy deals above 1.2803 / 1.2894 with the first target at 1.2970 initiating an uptrend in order to continue the bullish mood towards the point of 1.3015 and further to 1.3130. If the trend breaks the weekly pivot point (1.3017), then the pair will go upwards to these targets. However, it should also be noted that the price is still between 1.3090 and 1.2955, as the last strong resistance level (1.3140) is still able to begin a downtrend at this level. Thus, the market indicates a bearish opportunity at the level 1.3140 on H4 chart with the first target at 1.3090 and continues towards 1.3000.

Weekly Pivot Points:

R3: 1.3392

R2: 1.3266

R1: 1.3143

PP: 1.3017

S1: 1.2894

S2: 1.2768

S3: 1.2645

Observation (s):

If the trend is ascending, then the strength of the currency will be defined as following: EUR is an uptrend and USD is a downtrend.

Most of the traders use the Fibonacci retracement to determine accurately the psychological support and resistance levels.

Stop loss should NEVER exceed your maximum exposure amounts.

The market has a high volatile as usual if the last day had a huge volatility.



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