GBP/USD Intraday technical and fundamental review for April 30, 2013 Trend News

The rising wedge continuation pattern achieved its full projection target around 1.5490.

This week, the cable is meeting a significant supply zone located between 1.5500-1.5550 which comes to meet 100-day SMA and the upper limit of the depicted bullish channel. Hence, it is a zone of strong resistance which will probably pause the bullish movement looking for some bearish retracement.

Although the pair is trading slightly above the 100- day SMA, the bullish steam seems to fade away which is manifested in the "inverted hammer" daily candlestick which is an early indicator for possible retracement.

The cable has dependable demand level around 1.5365 which may provide a valid BUY entry on the next bearish retracement. Another minor demand zone is located around 1.5430 which has been established by the bulls last Friday leading towards 1.5550 as expected. Today, there is an established Supply Zone located at the upper limit of the channel 1.5530-1.5545. In case of its stabilization, the bearish momentum will be targeting 1.5430, 1.5365 then 1.5200. Fundamentally, the amount of currency in circulation and deposited in banks in the UK fell unexpectedly during the previous quarter. Also, the lending index fell in Britain more than expected during the month of March according to the official data released today. This data supports the short-term bearish view mentioned above.

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Silver: Move seems to be Corrective till now. Book profits (24.40/45) Trend News

Technical outlook and chart setups:

Silver rally is in 3 waves for now and it is corrective in nature. The support region is around 23.50 (trendline is passing through) and immediate resistance is at 26.00/50 levels (past support turned resistance). The wave structure is unfolding at the moment, it warrants a dip towards 23.50 level first and then a possible rally, if the support line remains intact. Hence it is recommended to book profits in the metal now around 24.40/50 region, leaving space to further go long on dips lower. On the other hand, if the rally continues from current levels, please note to watch for 26.00/50 region to initiate fresh short positions. Higher up resistance is at 28.00 and 28.50/60 according to the chart view presented here; while intermediary support is at 24.00, followed by 22.00 and lower.

Trading recommendations:

Book profits for now, look to buy again on dips towards 23.40 level or sell on rally towards 26.00/50 levels.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Silver: Move seems to be Corrective till now. Book profits (24.40/45) . Thanks for your support on Silver: Move seems to be Corrective till now. Book profits (24.40/45)

Gold trades sideways. Safe trading strategy is sell around 1,500/10 Trend News

Technical outlook and chart setups:

Gold is retracing or just consolidating recent gains. As depicted on chart here, the yellow metal could fall below towards 1,450.00/1,425.00 levels before rallying further up towards the measured extension of 1,500/10 levels. It is recommended to book profits on the metal at current price (1,472.00) and wait for dips to re-enter buying. Another conservative but safe trading strategy would be to wait for a rally towards 1,500/10/20 levels and go short, since the 1,500/20 region is past support turned resistance zone. Higher up resistances are towards 1,580/85 and 1,600.00 on the chart view here, while intermediary support now is 1,320.00 region.

Trading recommendations:

Book profits for now. Look to buy on dips towards 1,450/20 region again or sell towards 1,500/20 region.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Gold trades sideways. Safe trading strategy is sell around 1,500/10 . Thanks for your support on Gold trades sideways. Safe trading strategy is sell around 1,500/10

EurJpy remains bearish below 130.00/50. Prepare to go short again Trend News

Technical outlook and chart setups:

The single currency pair is still within the decreasing resistance, increasing support triangle formation as depicted here. It is recommended to initiate short positions again around the 130.00 mark, or on a break of 126.00. Intermediary support is at 125.00 region and a break lower would accelerate downfall towards 123.00/124.00 levels further. Till the time prices remain within the cone structure, a rally towards 130.00 level still remains possible before final reversal. As seen here, major support is at 119.00 level, while resistances are at 103.00/50 and 131.00 respectively. Looking lower below 130.00/50; sell rallies from here on.

Trading recommendations:

Look to enter short again between 129.50 and 130.00 levels.

Good luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy remains bearish below 130.00/50. Prepare to go short again . Thanks for your support on EurJpy remains bearish below 130.00/50. Prepare to go short again

GbpChf produces evening star bearish signal at 0.618 Fibonacci resistance Trend News

Technical outlook and chart setups:

As depicted on the daily chart view here, the single currency pair has produced an Evening Star bearish signal at yesterday’s close. This level around 1.4600/50 is also re-enforced by the 0.618 Fibonacci resistance (purple lines). Hence it is recommended to remain short from positions taken earlier and sell rallies for now. Also please note the past support turned resistance region is around 1.47 region, so there still remains a possibility of a final rally up there, and then reverse. Intermediary support levels are at 1.4070/30 and 1.4; while resistance levels are spread across 1.5, 1.5100 and higher up. The current swing structure favors further downside.

Trading recommendations:

Remain short for now, stop is at 1.58, and target is open.

Good luck!

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Silver consolidates gains. 25.00 and 26.00 remain upside targets Trend News

Technical outlook and chart setups:

Silver is consolidating gains after breaking out of its trading range above 24.00 level last week. Further upside targets remain at 25.00 and 26.00 levels at least. It is recommended to remain long for now and also buy on dips. The 26.00/50 region is convergence of Fibonacci 0.618 resistance and past support turned resistance; hence it remains potential point of reversal to go short again. Higher up resistance levels are 28.00, followed by 29.10/20, 31.50/60, 34.00 and higher; while support levels are spread through 22.50, 22.00, 21.40/50 and lower. Looking higher in the short term, then reverse.

Trading recommendations:

Remain long for now, stop is at 22.50, and targets are at 25.00 and then 26.00

Good luck!

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For detail explanation and best discovery on market trends you may visit via Silver consolidates gains. 25.00 and 26.00 remain upside targets . Thanks for your support on Silver consolidates gains. 25.00 and 26.00 remain upside targets

Gold preparing retrace. Buy on dips, target is at 1,500/10 Trend News

Technical outlook and chart setups:

Gold has been trading sideways, probably in wave 4, after hitting first measured target at 1,450.00 level last week. It is recommended to hold remaining long positions for now and also plan to buy on dips towards 1,500/10 levels. This region is past support turned resistance and further downswing is expected to continue from there. Also the Fibonacci 0.618 resistance is around 1,504.00 region, making it more favorable to initiate short positions towards 1,290/1,300 levels and lower. Resistance is spread across 1,510/20 region, followed by 1,575/80, 1,610/20, 1,650/60 and higher up; while support is at 1,400.00 (intermediary), followed by 1,320.00, 1,290/1,300, and 1,150.00 according to weekly chart. Looking higher for the short term and then reverse.

Trading recommendations:

Remain long, stop is at 1,350.00, and target is at 1,500.00

Good luck!

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For detail explanation and best discovery on market trends you may visit via Gold preparing retrace. Buy on dips, target is at 1,500/10 . Thanks for your support on Gold preparing retrace. Buy on dips, target is at 1,500/10

GBP/USD intraday technical analysis and trading recommendations for April 29, 2013 Trend News

As it was suggested last week, price level 1.5230 stood as an Intraday Support level. It provided a BUY entry yesterday which is running in profit now, the next near target is located at the upper limit of the movement channel around 1.5560.

Stabilization above 1.5370 cancelled the bearish reversal scenario, leading towards 1.5430 (the projection target of the range breakout) then 1.5475 (broken resistance level).

The long-term view remains bullish as long as the pair continues to consolidate within the depicted DAILY bullish channel above 1.5370-1.5400.

The breakout projection target has been achieved. However, the way towards 1.5555 (the upper limit of the daily channel) is still open where price action should be watched carefully for a retracement opportunity.

On the 4H chart, there are signs of lack of bullish steam. However, there is no confirmed signal of reversal until now.

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EurJpy oscillating within range. 130.00/50 remains resistance Trend News

Technical outlook and chart setups:

As seen on the 4H chart setup here, the single currency pair has been trading within the range 125.00-130.00 in a decreasing resistance increasing support fashion. After a huge rally from sub 90.00 level to 130.00 level, the pair should retrace before rallying further, but that cannot be confirmed before break of 125.00 level. It also remains possible that the pair rallies one last time towards 132.00 level before finally reversing sharply. It is recommended to remain cautious about buying for now; rather one can book profits on short positions taken earlier and wait to sell on rallies towards 130.00 level. Resistance is at 130.20/50 levels, followed by 131.00, while immediate support for now is 125.00. Only a break of 125.00 would confirm bearish reversal.

Trading recommendations:

Book profits on short positions. Plan to sell rallies towards 130.00 again.

Good luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy oscillating within range. 130.00/50 remains resistance . Thanks for your support on EurJpy oscillating within range. 130.00/50 remains resistance

GbpChf top formation seen between 1.4600-1.4700 Trend News

Technical outlook and chart setups:

The single currency pair has rallied through the 0.618 resistance level around 1.4650. Prices have been stalling since then indicating that a last spike higher is possible. The measured level for a top and reversal is between 1.4600-1.4700 in the next few trading sessions. Hence it is recommended to remain short for now and also sell on a rally towards 1.4700; which is past support turned resistance and the sloping line of resistance also converges here. Higher up resistance is at 1.5, followed by 1.51 and higher up; while support is at 1.4075, followed by 1.4030 and lower. Minimum downside expectations are 1.4200.

Trading recommendations:

Remain short, add further around 1.47 level, stop is at 1.4800, and target is open.

Good luck!

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For detail explanation and best discovery on market trends you may visit via GbpChf top formation seen between 1.4600-1.4700 . Thanks for your support on GbpChf top formation seen between 1.4600-1.4700

GBP/USD - Bearish outlook - for April 26, 2013 (daily strategy) Trend News

The pound is optimistic with GDP of 0.3% in the quarter. Analyzing the technical chart I have no reason to believe that the pound will rise again, probably the increase of a few pips above but prolonged fall is expected to the 1.50 level, because the indicator is currently in negative zone and the moving average of the MACD is already very overbought, suggesting a decrease in the coming days. Therefore, it is recommended to sale at current price level 1.5485 or if the pair reaches the region of 1.55, the psychological level, we can sell this pair with targets 1.5280.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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AUD/USD - Buy above fractal 1.0225 - for April 26, 2013 (daily strategy) Trend News

The Australian dollar is within a range between 200-day EMA, and 1.0224 fractal. Given the fact the Momentum Indicator is showing a bearish signal. The pair is likely to move down to the level of 1.0240. On this level we recommend buying, it is likely in the next few days the pair returns to the area of the 200-day moving average. Therefore, below 1.0225 the Aussie would initiate a new sequence, so we suggest placing the stop loss below the fractal.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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For detail explanation and best discovery on market trends you may visit via AUD/USD - Buy above fractal 1.0225 - for April 26, 2013 (daily strategy) . Thanks for your support on AUD/USD - Buy above fractal 1.0225 - for April 26, 2013 (daily strategy)

EUR/USD - Buy above 1.2990 - for April 26, 2013 (daily strategy) Trend News

The euro has not lost a medium-term uptrend for two reasons. The first one is it is trading above the 200-day moving and the second is the Momentum Indicator is above the moving average of the MACD, you can observe it on the graph. If in the next days the euro price enters and consolidates below it, then we note that there is a downward trend. Therefore, we now recommend buying the pair above 1.2990 with targets at bearish channel ceiling around 1.31.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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For detail explanation and best discovery on market trends you may visit via EUR/USD - Buy above 1.2990 - for April 26, 2013 (daily strategy) . Thanks for your support on EUR/USD - Buy above 1.2990 - for April 26, 2013 (daily strategy)

Silver breaks out of consolidation. 24.00 support now Trend News

Technical outlook and chart setups:

Silver has finally broken above 24.00 bringing an end to the sideways movement, since several days. Please note that 24.00 level is the resistance turned support now and hence fresh long positions can be built around this region, on dips. It is recommended to stay long on positions taken earlier and target 25.00 and 26.00 levels as minimum potential targets. Partial profits could be booked around 25.00 level. The 26.00/50 level is immediate resistance, since it was previous support and prices are expected to reverse from there lower. Higher up resistance levels are 28.10/20, 29.20/30, 32.10/20 and higher; while supports are fixed at 22.00, 21.45 and 20.00 on the long-term charts. Bottom line: Remain long till at least 26.00/50 levels.

Trading recommendations:

Remain long, stop is at 22.50, and targets are 25.00 and 26.00.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Silver breaks out of consolidation. 24.00 support now . Thanks for your support on Silver breaks out of consolidation. 24.00 support now

Gold hits first measured target at 1,450.00. 1,520/25 next up Trend News

Technical outlook and chart setups:

The yellow metal is unfolding its counter trend rally, well according to expectations till now. The first measured target at 1,450.00 was hit yesterday. It was recommended to book partial profits at 1,450.00 level and hold on the remaining positions for an upside target towards 1,520/30 levels soon. The metal should be bought at dips towards 1,520/30 from here on. 1,520/30 region is past support turned resistance zone. It is more likely that prices reverse from there towards possible fresh lows, towards 1,290/1,300 or even 1,500.00 in the coming weeks. Resistance is lined up at 1,580/85, 1,620/30, 1,650/60 and higher, while support is fixed at 1,320.00 level, followed by 1,290.00 and 1,500.00 on the weekly charts as discussed earlier. Bottom line: Remain long till 1,520/30 at least.

Trading recommendations:

Hold remaining long positions, stop is at 1,350.00, and target is at 1,520.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Gold hits first measured target at 1,450.00. 1,520/25 next up . Thanks for your support on Gold hits first measured target at 1,450.00. 1,520/25 next up

EurJpy sliding down. Continue holding short positions. 130.50 resistance Trend News

Technical outlook and chart setups:

The single currency pair has begun to slide below the 129.00 mark now. As seen on the daily chart view here, 130.50 is immediate resistance, followed by 131.00 level for now; while support is at 125.00 (intermediary), followed by strong support at 119.00 level. It is still recommended to remain short and add further during intraday rallies. As shown here, the measured downside target should be around 124.00 levels at least (Red Line); while a break of the inner trendline here, could push it even lower towards 116.00 and 114.00 level. On the flip side, a bullish reversal above 130.50 shall negate our bearish scenario for now. Bottom line: Remain short till prices are below 130.50.

Trading recommendations:

Remain short, stop is at 131.30, and target is open.

Good luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy sliding down. Continue holding short positions. 130.50 resistance . Thanks for your support on EurJpy sliding down. Continue holding short positions. 130.50 resistance

GbpChf at 0.618 Fibonacci resistance around 1.4600/50. Short can be initiated now Trend News

Technical outlook and chart setups:

Looking into the daily chart wave structure presented here, the single currency pair seems to have retraced 60% of the fall from 1.5 levels to recent lows at 1.4 levels at 1.4600/50. Also note that the past support turned resistance zone is near 1.4700 region; also the sloping trendline is passing through the same levels. Keeping all this into consideration and a bearish signal appearance on hourly chart, it is now recommended to initiate short positions. Resistance is at 1.5, followed by 1.51, 1.52, and higher up; while daily chart support is at 1.4100 level. Bottom line: Look lower for now, at least towards 1.42.

Trading recommendations:

Go short around 1.4580-1.4600, stop is at 1.4800, and target is open.

Good luck!

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For detail explanation and best discovery on market trends you may visit via GbpChf at 0.618 Fibonacci resistance around 1.4600/50. Short can be initiated now . Thanks for your support on GbpChf at 0.618 Fibonacci resistance around 1.4600/50. Short can be initiated now

GBP/USD - Bearish outlook - for April 25, 2013 (daily strategy) Trend News

The British pound had an upward movement after the publication of the UK's GDP. It grew by 0.3% in the first quarter, more than modest but managed to avoid a major recession, and the British pound jumped immediately, reaching its maximum, so far, from 20 February. Looking at the graph I have no reason to consider that the pound will rise more, probably rising a few pips above, but a prolonged fall is expected to the level of 1.50, because the Momentum Indicator is in negative zone and the moving average of the MACD is already very overbought, which is suggestive of a decrease in the next few days. Therefore, we recommend selling in the current price level 1.5461, or if the pair reaches the area of 1.55, the psychological level, we can sell this pair with objectives to 1.5280.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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For detail explanation and best discovery on market trends you may visit via GBP/USD - Bearish outlook - for April 25, 2013 (daily strategy) . Thanks for your support on GBP/USD - Bearish outlook - for April 25, 2013 (daily strategy)

AUD/USD - Buy above fractal 1.0299 - for April 25, 2013 (daily strategy) Trend News

The Australian dollar had a bullish momentum; we mentioned yesterday that this pair was at the beginning of a new upward sequence. Given that, the pair has broken the 1.0299 fractal and trading above this level increases the likelihood of an upward movement for the next few days to the level of the 200-day moving average around 1. 0380.

The Momentum Indicator is showing upward force which is likely to be a rebound in the fractal of 1.0299, at this level we recommend buying.

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For detail explanation and best discovery on market trends you may visit via AUD/USD - Buy above fractal 1.0299 - for April 25, 2013 (daily strategy) . Thanks for your support on AUD/USD - Buy above fractal 1.0299 - for April 25, 2013 (daily strategy)

EUR/USD - Buy above 1.2980 - for April 25, 2013 (daily strategy) Trend News

The euro during the European session managed to have a bullish momentum reaching the level of 1.3092, strong resistance level. This morning and during the American session the pair made recoil and right now is trading at 1.3032. It is likely to fall to the 1.2990 zone. At this level we recommend buying the pair back with zone objectives to bearish channel resistance around 1.31. On the other hand, the Momentum Indicator is in support of the moving average of the MACD and still has not been broken down. We do not see a bearish signal for the euro. Therefore, we recommend buying the pair at support levels.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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For detail explanation and best discovery on market trends you may visit via EUR/USD - Buy above 1.2980 - for April 25, 2013 (daily strategy) . Thanks for your support on EUR/USD - Buy above 1.2980 - for April 25, 2013 (daily strategy)

GBP/JPY: Upside Trend News

Overview:

GBP/JPY is trading in higher range. The rate is supported by weak yen sentiment on Bank of Japan's aggressive easing measures to help reach its 2% inflation target in two years; demand from Japan importers. But GBP/JPY gains tempered by Japan exporter sales. Daily chart is positive-biased as MACD and stochastics are bullish, although latter is at overbought; five- and 15-day moving averages are rising.

Trading recommendations:

The pair is trading above its pivot point at 153.52. The pair is likely to trade in higher range as far as it remains above its pivot point. As far as the price is above its pivot point, it will be most favorably to trade in higher range and buy position is recommended above its pivot with first target at 153.9 and second target at 154.5. You should keep in view short position below the pivot keep of the first target at 151, breach of this target will move the pair downward further and expect the second target at 150.55. Pivot point stands at 152.

Resistance levels:

R1 - 153.9 , R2 - 154.5, R3 - 155

Support levels:

S1 - 151, S2 - 150.55, S3 - 150.1

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Silver should gain bullish momentum anytime. 24.00 needs to be cleared Trend News

Technical outlook and chart setups:

The metal seems to be preparing to break above the trading range at 24.00 level. Looking into the current structure, it still remains sideways. A break above 24.00 would bring 26.00/50 levels into focus, while a break lower would bring 21.00/50 levels into focus. Please note that 26.00/50 region is resistance for now since the Fibonacci 0.618 level and past support turned resistance convergence remains. Support is at 22.00 level for now, followed by 21.45 and 20.00 levels on the lower side. Weekly charts show that 20.00/30 region is the past resistance turned support region for now. Hence a push lower from here would provide another long opportunity. It is recommended to initiate fresh long positions on a break above 24.00.

Trading recommendations:

Remain long for now, stop is at 21.90, and targets are at 25.00 and 26.00.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Silver should gain bullish momentum anytime. 24.00 needs to be cleared . Thanks for your support on Silver should gain bullish momentum anytime. 24.00 needs to be cleared

Gold near 1,450.00. Long for now Trend News

Technical outlook and chart setups:

The yellow metal is inching towards 1,450.00 level; our initial measured target. Furthermore, the wave structure remains unchanged at least in the short term. The bulls would want to push prices towards 1,500/10 levels before reversing. It is hence recommended to remain long for now; book partial profits around 1,450.00 level and remain at 1,500.00. Please also note that the 1,500/10 region is past support turned resistance for now and also the Fibonacci 0.618 resistance level is around 1,503.00. Considering all the above facts, 1,500.00 would be a favorable level to initiate short positions. Resistance on the higher side is at 1,580/85, 1,620/30, and 1,650.60; while intermediary support is at 1,310.00 region, followed by 1,290/1300 and lower at 1,500.00 on the weekly charts. Bottom line: Long for now, then reverse.

Trading recommendations:

Remain long for now, stop is at 1,315.00, and targets are at 1,450 and 1,500.00

Good luck!

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EurJpy testing resistance around 130.00. Selling rallies favourable Trend News

Technical outlook and chart setups:

The single currency pair has been trading around 130.00 resistance levels since several trading sessions and there is no change in wave structure for now. Resistance remains fixed at 130.00/50 and 131.00 levels; while intermediary support is at 125.00 level, followed by strong support at 119.00 respectively. However, a break of inner trendline would push prices lower to 112.00/110.00 levels as well. Looking into the price action since 90.00 levels, it is recommended to remain short for now. Risk/Reward ratio of initiating fresh short positions on rallies towards 130.00 level is also good. Looking lower for now till prices remain below 131.00 level.

Trading recommendations:

Remain short for now, stop is at 131.30, and target is open.

Good luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy testing resistance around 130.00. Selling rallies favourable . Thanks for your support on EurJpy testing resistance around 130.00. Selling rallies favourable

GbpChf breaks out, 1.46-1.47 seen as resistance Trend News

Technical outlook and chart setups:

The single currency pair has finally broken above the consolidation cone depicted here. Furthermore, the price resistance at 1.4530 is also cleared, indicating further bullishness in store. This daily chart view is depicting a wave structure which still remains bearish with major resistance at 1.5 level. The current rally from 1.4 level could still be a retracement/pullback of the larger downswing (1.5-1.4). 1.4600-1.4700 levels would be of interest to us now, for initiating short positions. This region is also re-enforced by past support turned resistance zone, the Fibonacci 0.618 resistance and extension of the recent upswing that begun from 1.4 level. Keeping all this in view, it is recommended to initiate short positions around 1.46/1.47 levels.

Trading recommendations:

Flat for now. Looking to sell higher.

Good luck!

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EUR/USD - Buy above 1.2950 - for April 24, 2013 (daily strategy) Trend News

The EUR/USD pair is trading with low volatility with a poorly defined range. Today the pair has approached the level of the 200-day moving average which is located at 1.2940. This level will provide dynamic support to the pair, since the pair is approaching this level it will try to bounce upwards, as it has happened in the previous months. Therefore, we believe that if the pair again negotiates between the levels of 1.2970 and 1.2950, the Euro quickly tries to bounce. The Momentum Indicator approaches the moving average of the MACD which also signifies that the euro could recover its losses in the coming days, so we recommend buying the pair at any price above 1.2950 with targets at the ceiling of the bearish channel around 1.3101.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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AUD/USD - Buy above fractal 1.0224 - for April 24, 2013 (daily dtrategy) Trend News

The Australian dollar made three attempts to break the daily fractal area 1.0224. The fact that the pair failed to close below that level increases the likelihood that in the medium term the pair reaches the level of 1.05. This area has become very strong support for the pair, so it is recommended to buy at current price levels with targets at 1.03 and higher on, 1.0445. On the other hand, the Momentum Indicator is showing a bullish signal.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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USD/CAD intraday technical analysis and trading recommendations for April 24, 2013 Trend News

Bearish rejection around 1.0300 was followed by multiple days of indecision within the same consolidation range 1.0225 - 1.0330 until the pair gave obvious daily closure below 1.0220 which opened the way towards the projection target at 1.0110.

Price level 1.0085 stood as a solid intraday support which provided a good BUY entry which is running in considerable profit now.

Price zone 1.0200 - 1.0235 which corresponded to a downtrend line has been broken through obviously last week, there is a continuation flag pattern confirmed with daily closure above 1.0210 to have final target at 1.0400. However, it is important to note that signs of lack of bullish steam seem to exist this week as depicted on the daily chart.

Retesting of the backside of 61.8% Fibonacci Level around 1.0235 provided a valid BUY entry on Friday with tight SL below 1.0200, TP levels should be located at 1.0250, 1.0280, and 1.0330.

4H closure below 1.0250 gives an early indication of a possible short-term bearish retracement targeting 1.0200 initially.

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For detail explanation and best discovery on market trends you may visit via USD/CAD intraday technical analysis and trading recommendations for April 24, 2013 . Thanks for your support on USD/CAD intraday technical analysis and trading recommendations for April 24, 2013

Silver remains locked/sideways. 22.00 remains intermediary support Trend News

Technical outlook and chart setups:

Silver remains sideways since last several trading sessions. Further implications would be a break higher towards 26.00/50 or towards 21.00/50 level. It is recommended to remain long for now on positions taken earlier, but refrain from taking fresh longs. The strategy would be to initiate fresh long positions above 24.00 level, targeting 26.00/50. Daily chart view suggests that prices are quite in the oversold territory and at least a relief rally towards 26.00 level remains high probability. Please also note that 26.00 level is also defined by the past support turned resistance, hence it remains an excellent selling opportunity if prices reach there. Bottom line: Bullish in the short term, towards 26.00 level.

Trading recommendations:

Hold long positions for now, stop is below 22.00, and targets are at 25.00 and 26.00.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Silver remains locked/sideways. 22.00 remains intermediary support . Thanks for your support on Silver remains locked/sideways. 22.00 remains intermediary support

Gold remains buy on dips for now. 1,380.00-1,400.00 support Trend News

Technical outlook and chart setups:

The short-term outlook and structure remain constructive for the yellow metal, as seen here. It is recommended to hold long positions for now, and fresh positions can be built around the 1,380-1,400 support region on a dip. 1,450.00 remains the first measured target, followed by 1,500/20 region, which is the past support turned resistance now (according to weekly charts). Intermediary support is fixed at 1,310/20 levels, followed by 1,290.00 and also 1,500.00 level remain a possibility according to weekly charts. Immediate resistance is around the 1,500.00 mark and it is recommended to exit long positions if prices reach there in the coming trade sessions. Bottom line: Short-term bullish towards 1,500.00 level and bearish thereafter towards 1,290.00 levels at least.

Trading recommendations:

Remain long for now, stop is at 1,315.00, and targets are at 1,450 and 1,500.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Gold remains buy on dips for now. 1,380.00-1,400.00 support . Thanks for your support on Gold remains buy on dips for now. 1,380.00-1,400.00 support

EurJpy continues swing between Fibonacci ratios. 130.50 remains immediate resistance Trend News

Technical outlook and chart setups:

The single currency pair remains locked between a range between 126.00 and 130.00, bouncing off between Fibonacci ratios. The following trade strategies can be possible:

1. A downswing, that begun from 131.00 level, took support at 125.00 region (which is defined as past resistance turned support). This swing has been retraced to 130.50 level, which is the 0.786 Fibonacci resistance as well. The projected extension is at 123.00 level and it is recommended to remain short for now. Resistance is at 130.50 level and 131.00 on the higher side.

2. Prices have taken support at 125.00 level after printing highs at 131.00 level. A sequence of higher highs and higher lows has been forming since then and a push through 130.50 level will pretty much confirm that the pair is moving towards a new high. Turning bullish now is not recommended, only above 130.50 level.

Trading recommendations:

Remain short for now, stop is above 130.50/60, and target is open.

Good luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy continues swing between Fibonacci ratios. 130.50 remains immediate resistance . Thanks for your support on EurJpy continues swing between Fibonacci ratios. 130.50 remains immediate resistance

GbpChf rallies to 1.44. Flat for now Trend News

Technical outlook and chart setups:

A daily chart view has been presented here for a detailed wave structure. The single currency pair seems to be within the larger downswing that started from 1.5400 level. The current wave structure, from 1.4530 level is in a consolidation mode, swinging between the support and resistance lines depicted here. The resistance levels are defined by 1.4480 and 1.4530; while supports are defined by 1.4075 and 1.4030/1.4 levels respectively. Having stopped out from short positions recently, it is recommended to remain flat for now and wait for a bearish trade signal at resistance line or a break higher. The resistance line is passing through 1.4430/50 levels for now and the single currency pair is expected to react around this region. A bearish signal here could be sold, while a break higher could be bought. Please note the tone remains cautiously bearish below 1.4530.

Trading recommendations:

Remain flat for now. Sell at resistance line or buy on a break higher.

Good luck!

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For detail explanation and best discovery on market trends you may visit via GbpChf rallies to 1.44. Flat for now . Thanks for your support on GbpChf rallies to 1.44. Flat for now

EUR/USD - Bearish outlook - for April 23, 2013 (daily strategy) Trend News

The euro is located below the psychological level of 1.30 after nine attempts to break this level. Now it is trading below 1.30 because the PMI manufacturing showed a figure lower than expected, thereby feeding speculation that the European Central Bank to cut back interest rates at the next meeting in May, seeking to lower the cost of credit. Technically, the euro has to meet one of reversal patterns that was formed in the last daily sessions with target at 1.27 area. We believe that for the next few days the euro could arrive for this price. On the other hand, the Momentum Indicator produces bearish signal. We believe that the level of 1.2880 will give us the opportunity to decide whether to buy again or continue to sell the pair.

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For detail explanation and best discovery on market trends you may visit via EUR/USD - Bearish outlook - for April 23, 2013 (daily strategy) . Thanks for your support on EUR/USD - Bearish outlook - for April 23, 2013 (daily strategy)

AUD/USD - Buy above fractal 1.0224 - for April 23, 2013 (daily strategy) Trend News

The Australian dollar fell against the dollar, a direct consequence of negative reports in the Chinese economy, the main market of this country. The rate is likely to continue downwardly but it must close below 1.0224 fractal. Given that the Momentum Indicator is entering an oversold area, it is more likely that there is bullish move to the Aussie, which immediate objective is the level of 1.03. Thus, the pair is approaching the 1.0224 support, it will be a good opportunity to buy the pair. Stop loss is placed below the minimum of February.

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For detail explanation and best discovery on market trends you may visit via AUD/USD - Buy above fractal 1.0224 - for April 23, 2013 (daily strategy) . Thanks for your support on AUD/USD - Buy above fractal 1.0224 - for April 23, 2013 (daily strategy)

GBP/USD - Sell below 1.53 - for April 23, 2013 (daily strategy) Trend News

The British currency maintains certain firmness against the dollar, up from 1.52 in the last five candles on the daily chart. The pair has found strong support in this area. On the weekly charts the pound is kept in inside the bearish channel long term. The breakdown of the day's low of 1.5195 so far could drill the base of support, in which case the lower pound will be much firmer and faster. Therefore, we recommend selling only if the pair in 4 hour charts closed below the 1.52 level. On the other hand, a pullback to the bearish channel ceiling would be a good opportunity to sell with goals to weekly support of 1.4950.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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For detail explanation and best discovery on market trends you may visit via GBP/USD - Sell below 1.53 - for April 23, 2013 (daily strategy) . Thanks for your support on GBP/USD - Sell below 1.53 - for April 23, 2013 (daily strategy)

Silver providing another buy opportunity now. Remain long targeting 25.00 and 26.00 at least Trend News

Technical outlook and chart setups:

Silver is providing another buy opportunity at the moment at 23.00 level. Immediate support is around 22.00 level for now, followed by 21.45 and 20.00 on the lower side, while resistance is at 26.10/20 region (which is also the past support turned resistance level as depicted here), followed by 28.10, 29.10/20, 32.10/20 and higher up. It is recommended to remain long for now with an upside target of 25.00 level at least. On the other hand, it should be noted that a break below 22.00 level could take prices towards 21.40/50, which is the past resistance turned support region on the weekly chart. The current price actions suggest a sideways movement and a break above 24.00 region is required to confirm further upside movement.

Trading recommendations:

Remain long for now, stop is at 21.50 level, targets are at 25.00 and 26.00.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Silver providing another buy opportunity now. Remain long targeting 25.00 and 26.00 at least . Thanks for your support on Silver providing another buy opportunity now. Remain long targeting 25.00 and 26.00 at least

Gold just shy of first target at 1,450.00. Remain long Trend News

Technical outlook and chart setups:

Gold reverses just shy of our measured target at 1,450.00 level yesterday. Nevertheless, it is still recommended to remain long from long positions taken earlier and add on intraday dips. Please book profits on at least 50% of long positions at 1,450.00 region. Also, the inner line of resistance will also coincide with 1,450.00 region soon. Furthermore, the past support turned resistance region is between 1,500.00 and 1,500.20/25 region as depicted here. Long positions should be sold off around the same region and a clear signal should be awaited to sell from there on. Further resistance level is at 1,580.00, 1,620/30, and 1,650/60, while support is around 1,320 level for now. Please remember that the yellow metal can print another low towards 1,290/1,300 levels in the coming sessions.

Trading recommendations:

Hold long positions for now, stop is at 1,315.00, and targets are at 1,450 and 1,520.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Gold just shy of first target at 1,450.00. Remain long . Thanks for your support on Gold just shy of first target at 1,450.00. Remain long

EurJpy reverses from resistance at 130.00. Remain short for now Trend News

Technical outlook and chart setups:

The structure remains unchanged for now and EurJpy has taken resistance from the 0.786 Fibonacci level of the entire downfall from 131.00 to 125.00 as seen here. Therefore, it is recommended to remain short from positions taken yesterday around 130.00 region. A fall below 126.00/127.00 shall accelerate downfall towards 123.00 level, which is the 0.618 Fibonacci support level of the upswing between 119.00 to 131.00. Resistance is fixed at 130.50 and 131.00 levels, while intermediary support is at 125.00 region, followed by strong support at the 119.00 level. Please note that prices are testing the backside of the cone/triangle here, hence a bullish bounce here shall enable a reversal here and we shall look to enter buying.

Trading recommendations:

Hold on to short positions, stop is at 131.00, and target is at 123.00.

Good luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy reverses from resistance at 130.00. Remain short for now . Thanks for your support on EurJpy reverses from resistance at 130.00. Remain short for now

GbpChf at resistance cluster near 1.4350. Should reverse from here Trend News

Technical outlook and chart setups:

If we consider the entire fall from 1.4480 level to 1.4075 recently, the single currency pair seems to be testing the Fibonacci 0.618 resistance at 1.4310/20 as depicted on the 4H chart view here. A bearish reversal here shall resume downswing towards 1.4 and lower. Immediate resistance is the 1.4350/60 level, followed by 1.44 and then 1.4480, while support remain intact at 1.4030 and 1.4 respectively. Furthermore, the recent sloping line of resistance is also passing through the 1.4350 region at the moment. Keeping these facts into consideration, it is safe to remain short on positions taken earlier and also possibly initiate fresh short positions at current levels. Bottom line: Looking lower till prices remain below 1.4530.

Trading recommendations:

Remain short, stop is at 1.4400 (from 1.4350), and target is below 1.4.

Good luck!

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For detail explanation and best discovery on market trends you may visit via GbpChf at resistance cluster near 1.4350. Should reverse from here . Thanks for your support on GbpChf at resistance cluster near 1.4350. Should reverse from here

Strategy of the day on EUR/JPY Trend News

The spot rate approaches the lower limit of its medium-term bearish channel at 128.60 suggesting a rebound. However, a break of these levels will free a large potential and initiate a more violent bearish channel.

Technical indicators do not provide clear signals but, 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 a short term.

The spot rate is currently testing the lower limit of its channel, so we recommend 2 scenarios: the first one is the hypothesis of a rebound, then we recommend a buy on the level of 128.60 with the 1st objective at 129.20 and then at 129.40. A break through 128.40 will invalidate this scenario. The second scenario is a break of its support, then we recommend a sell stop, which means to sell the spot rate as soon as it has broken through its support of 128.60 with the 1st objective at 128.00 and then at 127.80. A break through 128.80 will invalidate this scenario.

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Silver targeting sub 26.00 at least for now Trend News

Technical outlook and chart setups:

As seen here, the metal is still subdued in a trading range and we are still waiting for a break above 24.00 level convincingly. Immediate targets for the metal are 25.00 and 26.00/27.00 levels as Fibonacci extension levels are depicted in RED. Please note that 26.00/50 levels is the area of past support turned resistance level now, hence that would be of interest for a possible exit of long positions taken and re-entering shorts. Higher up resistance levels are at 28.00/10, followed by 29.20/30, 32.20 and higher, while intermediary support is at sub 22.00 level, followed b 21.50 and 20.00 respectively. It is recommended to remain long for now, till around 25.00/26.00 levels and then reverse. Also note that a fresh new low between 20.00 and 21.50 still remains a possibility before a bullish reversal can materialize.

Trading recommendations:

Remain long for now, stop is at 21.80, and targets are at 25.00 and 26.00.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Silver targeting sub 26.00 at least for now . Thanks for your support on Silver targeting sub 26.00 at least for now

Gold targeting 1,450.00. Remain long for now Trend News

Technical outlook and chart setups:

Gold continues to move in a sequence of higher highs and higher lows forming lows at 1,320.00 level recently. The measured upside targets for the yellow metal are 1,450.00 and then 1,520/30 as depicted here as Fibonacci extensions in the RED. It is therefore recommended to remain long for now and utilize intraday dips as buying opportunities. Immediate resistance is at 1,500/20 levels, which was past support turned resistance now. The 0.618 Fibonacci resistance of the downswing is also at 1,507.00 level as seen here in PURPLE. This would be exit for long positions and initiating short positions. Higher up resistance levels are at 1,550/60, 1,620/30, and higher, while intermediary support is at 1,320.00 for now, followed by 1,200/1,150 levels on the lower side.

Trading recommendations:

Hold on long positions for now, stop is at 1,315.00, targets are at 1,450 and 1,505.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Gold targeting 1,450.00. Remain long for now . Thanks for your support on Gold targeting 1,450.00. Remain long for now

EurJpy at crossroads, book profits on long positions now at 130.10/20 Trend News

Technical outlook and chart setups:

The single currency pair has moved out of the triangle on Friday as depicted here on the 4H chart view. Please note that the downside risk still remains towards 123.00 level as shown here in the RED. It is recommended to book profits on long positions taken for now around 130.10. Major resistance is at 131.00, while supports are spread through 129.00 level, followed by 126.50, and 125.00 respectively. Please note that prices need to fall below 129.00 level for the downside to accelerate further. Aggressive trading strategy could be to short small quantity respecting the engulfing bearish signal that has appeared on the 4H chart as seen here.

Trading recommendations:

1. Book profits on long positions taken earlier.

2. Initiate short positions (aggressive trading strategy), stop is at 131.50, and target is open.

Good luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy at crossroads, book profits on long positions now at 130.10/20 . Thanks for your support on EurJpy at crossroads, book profits on long positions now at 130.10/20

GbpChf setting up to resume downswing below 1.4. Remain short Trend News

Technical outlook and chart setups:

The single currency pair is setting up for an extended downswing towards 1.4 and lower as seen on the 4H chart depicted here. Resistance is consolidated at 1.4350/60 levels, followed by 1.4400 and 1.4480 on the higher side; while intermediary support is at 1.4030, followed by 1.4 and lower respectively. The last rally can be seen as a retracement of the downswing from 1.4480 levels, at the moment. Please note that 1.4530 level is still seen as trend defining resistance level and bears would remain in control till the time prices remain below the same. Bottom line: Remain short for now.

Trading recommendations:

Hold on short positions and sell rallies (intraday), stop is at 1.4350/60, and target is below 1.4

Good luck!

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For detail explanation and best discovery on market trends you may visit via GbpChf setting up to resume downswing below 1.4. Remain short . Thanks for your support on GbpChf setting up to resume downswing below 1.4. Remain short

EUR/JPY: Key level 129.17, for April 19, 2013 (daily strategy) Trend News

The EUR/JPY is a pair that has become the winner in recent weeks. Due to the extent of movements, this pair is very optimistic because in the meeting of G-20 Finance Minister Japan, Taro Aso, did not find much resistance to stimulus to the economy, which has been promoting Shinzo Abe's government, and the yen, consequently, fell again. Right now there is no doubt that the Japanese currency will break the barrier of 100 units in the short term, and in turn it will take up the cross of euro yen towards the objectives of 132.50 and 135 yens per euro. Looking at the graph below, we can decide to buy if the pair finds a rebound in the level of 129.17 with target to 130.90, first weekly resistance. If the pair breaks the level of 129 yens, it is likely to be a correction to 125.45 support. On the other hand, the Momentum Indicator is very overbought, which signifies the imminent fall of this pair before a new upward sequence.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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For detail explanation and best discovery on market trends you may visit via EUR/JPY: Key level 129.17, for April 19, 2013 (daily strategy) . Thanks for your support on EUR/JPY: Key level 129.17, for April 19, 2013 (daily strategy)

Silver attempting to clear resistance at 23.90/24.00 Trend News

Technical outlook and chart setups:

Silver is attempting to break clearly above the 24.00 mark at the moment. It is recommended to remain long from yesterday and add on dips as well (or initiate fresh positions only). In the event that a break above 24.00 is successful now, it would be rather clear that the metal is headed towards the extensions at 25.00 levels and then 26.30/40 in the near term. The intermediary support at the moment is fixed just above 22.00 level, while weekly charts point anywhere between 20.00 and 21.50. The 20.50/21.00 region is re-enforced by a long-term past resistance support and if prices manage to reach there now, or in the next downswing, that would produce the next major bottom. Major resistance now is fixed at 26.00/50 levels which was past support. Bottom line: Remain long now for an extended rally towards at least 26.00/50.

Trading recommendations:

Remain long from yesterday, stop is at 21.80, and targets are at 25.00 and 26.50.

Good luck!

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Gold targeting 1,450.00 and 1,520.25. Remain long for now Trend News

Technical outlook and chart setups:

The yellow metal seems to be finally breaking above the 1,400.00 mark as seen on the chart view depicted here. It is recommended to remain long from yesterday’s positions since the next upside targets remain at 1,450.00 and then 1,520/25. Intermediary support is at 1,310/15 levels (the recent swing lows), 1,290.00/1,300.00, and 1,150.00 (on weekly charts). It is quite possible that the metal prints yet another low before rallying or it could stage an impressive rally towards 1,520/25 levels (which is defined as past support turned resistance) then reverse low towards 1,150.00 levels. Bottom line: Stay long for now in anticipation of a rally that could extend towards 1,520/25.

Trading recommendations:

Hold long positions for now, stop is at 1,315.00, and targets are at 1,450 and 1,520/25.

Good luck!

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For detail explanation and best discovery on market trends you may visit via Gold targeting 1,450.00 and 1,520.25. Remain long for now . Thanks for your support on Gold targeting 1,450.00 and 1,520.25. Remain long for now