EUR/JPY correction is due; 120.00 seen as resistance for now Trend News

Technical outlook and chart setups:

As depicted here, the single currency pair produced an Engulfing Bearish ahead of the 120.00/10 region. At the moment, prices seem to be retracing the fall and should face resistance around the 119.90 region. Looking into the risk/reward ratio, it is recommended to initiate short positions at current levels, 119.90/92. The single currency pair is expected to correct in 3 waves towards the 118.20/30 levels at least. A higher Fibonacci resistance is at 121.00, while support is at 118.80 and then 117.50/60 respectively. Looking lower for now.

Trading recommendations:

Short now (119.90/92), stop is at 120.45. Target is at 118.20.

Good Luck!

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EUR/JPY - Weekly Pivot Points and Signals for - January 14 - 19, 2013 Trend News

After opening of the Asian session, the pair EUR/JPY reached to a peak around psychological level of 120 yen to the euro. This morning during the American session it has traded at 119.43. It is expected there will be a significant correction for this pair, the opening of the session of this week left a gap in 118.97, to be covered in the next few hours. For the next few days we expect a fall as part of the correction of this pair, because it is overbought, so we can sell cautiously until pivot level. If the pair closes below this level, it may have a downward pressure to the nearest support of 115.23. Two weeks ago the euro-yen pair left a gap at 111.80, all the gaps are covered, so in the medium term it should be at these levels. Thus, we have traced the likely movements according to the table pivots.

117.28 and 111.67 are weekly and monthly pivot points for this week for EUR/JPY.

Signals for January 14 - 19, 2013

Sell if pullback is at 120.02 with take profit at 117.28 and 115.23 (W_S1), stop loss is above 120.00.

Sell if it closes below 117.28 (W_PPV) with take profit at 115.23 (W_S2), stop loss is above 120.20.

____WEEKLY_____

Weekly - R3 = 126.81

Weekly - R2 = 123.07

Weekly - R1 = 121.02

Weekly Pivot = 117.28

Weekly - S1 = 115.23

Weekly - S2 = 111.49

Weekly - S3 = 109.44

If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com

____MONTHLY____

Monthly - R3 = 126.06

Monthly - R2 = 120.38

Monthly - R1 = 117.35

Monthly Pivot = 111.67

Monthly - S1 = 108.64

Monthly - S2 = 102.96

Monthly - S3 = 99.93

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GBP/USD - Weekly Pivot Points and Signals for January 14 - 19, 2013 Trend News

The British pound is trading below the weekly pivot of 1.6101, with a downward trend. Technical indicators are showing a bearish sequence until weekly support level 1.6024 and the psychological level of 1.60. If these levels are broken, is expected to drop to the next support of 1.5916. On the other hand, above the pivot point, can add strength to the pound, and contribute to levels of 1.6209, first weekly resistance 1.6286 (W_R2) and the psychological level of 1.63. Therefore, we consider that the following signal will have validity for the whole week.

Signals for January 14 - 19, 2013

Buy if the day closes above 1.6101 (W_PPV) with take profit at 1.62.09 and 1.6286, stop loss is below 1.60 (W_S1).

Sell if the day below closes 1.6101 (W_PPV) with take profit at 1.6024 and 1.60, stop loss is above 1.6160.

____WEEKLY_____

Weekly - R3 = 1.6394

Weekly - R2 = 1.6286

Weekly - R1 = 1.6209

Weekly Pivot = 1.6101

Weekly - S1 = 1.6024

Weekly - S2 = 1.5916

Weekly - S3 = 1.5839

If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com

_____MONTHLY____

Monthly - R3 = 1.6672

Monthly - R2 = 1.6490

Monthly - R1 = 1.6365

Monthly Pivot = 1.6183

Monthly - S1 = 1.6058

Monthly - S2 = 1.5876

Monthly - S3 = 1.5751

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Silver Bullish Trend Remains Intact Trend News

Technical Outlook and Chart Setup:

As depicted on the Daily chart presented here, the support trendline remains intact for the bulls to stay in control in coming weeks. Furthermore, the prices have taken support from the 0.618 Fibonacci support of the upswing between 26.00 and 35.00 levels. Therefore, the trend structure remains favorable for bulls, till the time 29.22 level remains intact. At the moment, resistance remains fixed at 31.50 level, followed by 32.50, 34.30/40 and then 35.00 respectively. It is recommended to buy during intraday dips; around 30.00/30 would be best buy.

Trading Recommendations:

Hold on to long positions, buy fresh on intraday dips, stop is at 29.00, and target is open.

Good Luck!

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Gold Extremely Dullish Above 1,680.00 Level. Buying On Dips Still Recommended Trend News

Technical Outlook and Chart Setups:

The trend structure remains unchanged after last Friday’s pullback, which was expected. Please note that intraday support levels are spread through 1,640/45; hence the yellow metal needs to be bought if prices manage to reach those levels. Immediate resistance is at 1,694.00, followed by 1,720/22 and 1,753.00. On shorter timeframes (1h / 4h), the yellow metal is forming a diamond pennant and a breakout would be very strong (above 1,680/82). Once again, till the time prices stay above the 1,626.00 level, it is recommended to keep buying on dips. Watch out for 1,640/50 bounce to go long again.

Trading Recommendations:

Hold long positions, buy on dips, stop is at 1,600/10, and target is open.

Good Luck!

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EurJpy Prints Higher Highs. 121.00 Is The Next Reistance Trend News

Technical Outlook and Chart Setups:

A Daily Chart view has been depicted here for larger Fibonacci extension view. The single currency pair has extended rally further above 118.00 level in a considerable way. The next Fibonacci extension/resistance level is at 121.00 level, which also coincides with a past resistance on a weekly chart. Longer timeframe support is at 114.00 level now, while immediate support is at 118.00 at the moment. It is recommended to wait for a pullback on smaller timeframes before entering into fresh long positions. 118.00/50 are recommended buy prices for intraday dips.

Trading Recommendations:

Flat for now. Wait for intraday dips for building fresh long positions to target 121.00 level.

Good Luck!

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GbpChf Intermediary Support Seen At 1.4670 Trend News

Technical Outlook and Chart Setups:

The single currency pair has given up most gains of the recent upswing between 1.4670 and 1.4990 levels. Intermediary support remains fixed at 1.4670 level, followed by Fibonacci extensions at 1.46 and 1.45 respectively. Intermediary resistance remains at 1.4990/1.5 level, followed by 1.5050 and 1.5150 respectively. A 4H chart view has been presented here for a shorter swing study. Till the time prices stay supported above 1.4670 level, an upswing to 1.5050 remains a possibility. However, this is an aggressive trading strategy. It is recommended only for a possible short swing.

Trading Recommendations:

1. Conservative: Remain flat for now.

2. Aggressive: Buy now. Stop is at 1.4640. Target is at 1.5050.

Good Luck!

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