GBP/CHF is testing resistance; fix long positions' profit (1.4960/65) Trend News

Technical outlook and chart setups:

A 4H chart has been depicted here for a shorter-term resistance line view. As it is seen here, prices rebounded sharply yesterday and hit the 1.4950 level. The possible targets for this corrective rally could still extend to the 1.5050 level. But prices have hit the line of resistance, as shown here, and a bearish reversal remains possible. Moreover, a structural 3 wave correction might be in place at the 1.4275 level. Only a clear break of the trendline here and the 1.5050 level would bring a shift in the trend structure. Hence, it is recommended to fix profits on long positions taken two days ago and wait for a bearish reversal confirmation.

Trading recommendations:

Fix profits on long positions taken earlier. Look to sell again on confirmation.

Good Luck!

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GBP/USD buy above fractal 1.5963 - for January 15, 2013 (Daily Strategy) Trend News

The British pound maintains an underlying downward trend, although its movements are slow and without much force. Currently it is trading at 1.6033, above the psychological level of 1.60. It is likely to be a bullish rebound at this level. If the pair closes below the 1.60 level, the next support will be very strong and it is at 1.5963, daily fractal level. Unlike the euro, this pair has been more cautious in moving upward, the next level we must take into account is 1.6135 (daily Fractal) and 1.63, very strong resistance level. Moreover, the technical indicators are showing a moderate upward movement possible for the next few hours.

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

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EUR/USD sell bellow 1.3406 (61.8%) - for January 15, 2013 (Daily Strategy) Trend News

Yesterday the euro tried to make a new record, but lost upward momentum, carrying a maximum so far of 2013 at 1.3403, strong resistance level. If the euro tries to rise in price, the road will be very difficult to 1.35, as the pair stopped the 61.8% Fibonacci retracement. This indicator shows the level where the fall began in 1.4940, to 1.2018 minimum. You can see from the chart the line of the 61.8% Fibonacci, crossing at the level of 1.34.

It is most likely that the pair is trying to consolidate or break this level, but the indicators are showing overbought level, the nearest support level, that the euro will have a significant stop, is the weekly pivot of 1.3241.

Therefore, we can sell below 1.34 with targets to support level 1.3241, the stop loss will be place 50 pips above the maximum of 1.3403. The momentum indicator is below a downtrend and is showing bearish signal for the next few days.

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

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Fundamental analysis for January 15, 2012 Trend News

When it seems that all is well in the markets, the voices begin to appear touting crazy ideas like the demise of the dollar, or at least as it will be replaced with other hard currencies such as the euro or the yen. The U.S. is responsible for denying these matters imagined by fame seekers.

So, in a scenario of uncertainty, the euro, the British pound, the Australian dollar, and the Canadian dollar downtrends take on their crosses with the dollar, in some cases more strongly than others.

The euro quickly lost positions after approaching late Monday to 1.34 again, that value was reached at the beginning of the week, technically forming a figure-reversal double ceiling, and indicators outlined very low. The goal for the next few hours appears near 1.3230.

As for the British pound, it maintains underlying downtrend, although, its movements are slow and without much force. The break of 1.5990 could accelerate a sharper decline of the British currency.

The yen also stars the currency market at the time. It takes strength against the dollar, after touching 89.65, and correction of 4 hour chart, downward course, has its next target in 87.95, 61.8% of the last rally.

With a lot of economic data ahead, including the index of wholesale inflation, the New York manufacturing index, and retail sales, all are published at 8:30 Eastern, the day is shaping up with the dollar as a clear winner of the contest. The opening of the American session will have, as usual, the last word.

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NZD/USD: Weekly technical levels for January 14 - 18, 2013 Trend News

Weekly technical levels:

Tip(s):

R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.

Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines.

Within a strong trend, the price is expected to be lower than the pivot point line and continue the movement.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.



Observation(s):

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

Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.

Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, you will surely lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market is highly volatile if the last day had huge volatility.

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

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USD/CHF: Weekly technical levels for January 14 - 18, 2013 Trend News

Weekly technical levels:

Tip(s):

R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.

Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines.

Within a strong trend, the price is expected to be lower than the pivot point line and continue the movement.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.





Observation(s):

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

Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.

Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, you will lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market is highly volatile if the last day had a huge volatility.



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

The material has been provided by Instaforex Company - instaforex.com



For detail explanation and best discovery on market trends you may visit via USD/CHF: Weekly technical levels for January 14 - 18, 2013 . Thanks for your support on USD/CHF: Weekly technical levels for January 14 - 18, 2013

GBP/USD: Weekly technical levels for January 14 - 18, 2013 Trend News

Weekly technical levels:

Tip(s):

R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.

Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines.

Within a strong trend, the price is expected to be lower than the pivot point line and continue the movement.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.



Observation(s):

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

Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.

Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, you will surely lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market is highly volatile if the last day had a huge volatility.





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

The material has been provided by Instaforex Company - instaforex.com



For detail explanation and best discovery on market trends you may visit via GBP/USD: Weekly technical levels for January 14 - 18, 2013 . Thanks for your support on GBP/USD: Weekly technical levels for January 14 - 18, 2013

EUR/USD: Weekly technical levels for January 14 - 18, 2013 Trend News

Weekly technical levels:

Tip(s):

R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.

Pivot lines work well on the sideways markets as the prices are most likely to be located between the R1 and S1 lines.

Within a strong trend, the price is expected to be lower than the pivot point line and continue moving.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.



Observation(s):

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

Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.

Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, you will surely lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market is highly volatile if the last day had a huge volatility.



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

The material has been provided by Instaforex Company - instaforex.com



For detail explanation and best discovery on market trends you may visit via EUR/USD: Weekly technical levels for January 14 - 18, 2013 . Thanks for your support on EUR/USD: Weekly technical levels for January 14 - 18, 2013

Silver remains strong buy on dips Trend News

Technical outlook and chart setups:

The trend remains intact for the white metal. A 4H view depicted here may be hinting a possible pullback towards 30.00/50 levels before rallying further up. Initial resistance is seen at 31.50, followed by 32.50, 33.80, and 34.30; while support levels extend through 29.60/70 levels respectively. It is recommended to hold long positions taken earlier and use intraday dips as further buying opportunities. Anything between 30.00 and 30.50 could be considered as optimum long entry.

Trading recommendations:

Hold on long positions taken earlier, buy further on dips, stop is at 29.00, and target remains open.

Good Luck!

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GbpChf bullish correction seems to be underway. Long against 1.4640 Trend News

Technical outlook and chart setups:

As it was discussed yesterday, the aggressive trading strategy has worked out well against 1.4650 level. Intermediary support is now at 1.4690/1.4700 level, while resistance is through 1.4990, 1.5050, and 1.5150 respectively. As depicted here, a 3 wave correction is possibly underway towards 1.5050. It is recommended to buy intraday dips from here on. Intraday support begins from 1.4800 level and extends through 1.4760 level respectively. Looking higher for now.

Trading recommendations:

Hold on to long positions taken yesterday, build on longs during intraday dips, stop is at 1.4640, and target is at 1.5050 and above.

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Gold uptrend remains intact. Intraday dips are viewed as buying opportunities. 1,645.00 remains best buy. Trend News

Technical outlook and chart setups:

A 4H chart view has been presented here today. As depicted here, the yellow metal has been drifting in a diamond shape, pennant formation since Dec 20, 2012 to date. Furthermore, prices are facing resistance at the sloping downtrend line, shown here. It is a more likely possibility that prices correct towards 1,645/50 levels before finally breaking through the trendline. Initial resistance is at 1,690/95, followed by 1,725.00, and 1,750/53; while support extends through the 1,630.00 level respectively. It is highly recommended to hold long positions taken earlier and look to further add on dips towards 1,650 levels.

Trade recommendations:

Hold on to long positions taken earlier, buy further on intraday dips towards 1,645.00, stop is at 1,600/10, and target remains open.

Good Luck!

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For detail explanation and best discovery on market trends you may visit via Gold uptrend remains intact. Intraday dips are viewed as buying opportunities. 1,645.00 remains best buy. . Thanks for your support on Gold uptrend remains intact. Intraday dips are viewed as buying opportunities. 1,645.00 remains best buy.