GbpChf Downside Should Gain Momentum Below 1.4850 Trend News

Technical Outlook and Chart Analysis:

The overall structure remains bearish as we have been discussing lately. Resistance is spread across 1.5050, 1.5150, followed by 1.5250/1.5300; while support remains spread through 1.4800 (intermediary support), followed by 1.4700. It is still recommended to remain short and add short positions on intraday rallies. Please note that 1.4800 level should break down if the bears are to stay in control. Looking lower from here on.

Trading Recommendations:

Remain short from earlier positions. Stop is at 1.5150. Target is open.

Good Luck!

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Silver Bullish Above 32.00. Staying Long Is Recommended Trend News

Technical Outlook and Chart Setups:

As depicted here, intermediary supports are 32.00 and 30.70/80 respectively. Till the time prices stay above these mentioned levels, it is recommended to remain long and further add on dips. Immediate intermediary resistance is at 33.60/65 levels followed by 33.80/90 levels respectively. Looking into the overall trend structure, the bullish scenario persists and a push through 35.00 level would raise prices further up to 37.00 and 44.00 respectively. Looking higher from here on.

Trading Recommendations:

Stay long from positions taken earlier. Stop is below 32.00. Target is open.

Good Luck!

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Gold Is Bullish Above 1,670/80 Levels Trend News

Technical Outlook and Chart Setups:

As depicted here, intermediary support is provided by 1,680.00, followed by 1,672.00 level respectively, while strong support region is 1,630/40. Furthermore, 1,672.00 region is re-enforced by the 0.5 Fibonacci support for the upswing from 1,550.00 to 1,790.00 level. Intermediary resistance is at 1,720.00 level, followed by 1,755.00. It is recommended to stay long keeping the overall uptrend into consideration. A push through 1,720.00 and subsequently 1,755.00 level is expected into coming sessions. Looking higher from here on.

Trading Recommendations:

Hold on to long positions taken earlier, stop is below 1,672.00, and target is open.

Good Luck!

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EurJpy Just Shy of 111.00. Staying Long Trend News

Technical Outlook and Chart Setups:

The single currency pair has risen through the region of 110.80 today. Currently it seems to be retracing and providing another short term opportunity to go long. The only resistance is at 111.00 level, while support is far from it at 106.00, followed by 105.00. It is recommended to stay long form positions taken earlier. Moreover, buying on intraday dips is good. A pullback should be expected after the resistance at 111.00 is cleared. Looking higher from here on till 111.00 clears the way.

Trading Recommendations:

Stay long from earlier positions, move stop loss to breakeven levels. Target is at 111.00

Good Luck!

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GbpChf Hits Bottom of The Range At 1.4810/20. A Break Will Accelerate Downfall Trend News

Technical Outlook and Chart Setups:

The structure remains constructive for bears to gain momentum further. Bottom line is that 1.4800 should break down. If we study the swing formations since 1.5200 level, it looks like a falling wedge formation i.e. that is consolidation rather than trend. Hence it is recommended to hold short positions for an expected break of 1.4800 level, but cover short positions on a bullish reversal from these levels. Immediate resistance is just above 1.5050/60 at the moment, 1.5150/60, and 1.5200 respectively. Immediate support is 1.4800, followed by 1.4700, and 1.4600 respectively. Looking for a break down at the moment.

Trading Recommendations:

Hold on to short positions taken earlier, go fresh short positions on a breakdown further, stop is at 1.5050. Target is open. Book profits on short positions taken on a bounce back.

Good Luck!

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